Insurance Company, reported a 15 percent increase in total revenues to $7.76 million for the quarter ended March 31, 2001.

Net income rose to $1.22 million, compared to the last quarter's $0.87 million. The increase is attributed primarily to increased revenues, including increased investment income, lower-than-expected claims activity and decreased interest expense due to full repayment of the line of credit.

WMA Life has nearly $9.4 billion of life reinsurance in force and more than $267 million of annuity contracts benefits in force (at March 31, 2001). It produced $7.60 million of the $7.76 total revenues.