Protective Life Corp.'s third-quarter net income increased 27% to $73 million, or $1.02 a share, from $57.3 million, or 80 cents a share, a year earlier.

The Birmingham, Ala., financial services company's operating income rose to $69.6 million, or 97 cents a share, from $45.5 million, or 63 cents a share, in the year-ago period. On average, analysts polled by Thomson Financial expected per-share earnings of 94 cents and revenue of $756 million.

Protective Life forecast full-year per-share operating income of $3.95 to $4.10.