The company has posted an after-tax operating income of $71.4m, or $0.89 per average diluted share, compared to $99.1m, or $1.18 per average diluted share in the first quarter of 2012.
Life marketing segment pre-tax operating income was $23.7m for the first quarter of 2013, representing a decrease of $6.7m from the three months ended 31 March 2012.
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For the first quarter of 2013, acquisitions segment pre-tax operating income registered was $34.4m compared to $39.1m for the same quarter last year.
Annuities segment pre-tax operating income was $43.4m for the first quarter of 2013 compared to $35.8m for the first quarter of 2012.
Protective Life chairman, president and CEO, said: "Operating earnings in the quarter were right on our plan and exceeded plan, if adjusted for a few small, unexpected items. We are also pleased to see higher life sales, moderation in variable annuity sales, solid performance in the investment portfolio and continued robust spreads in the stable value segment."
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