Life Companies at a Glance
Highlights
- Closed block of business with assets under management of over $14 billion
- Produced strong net operating cash flow (segment income excluding certain non-cash items(1)) of $119 million and segment income of $11 million in 2004
- Solid capital position with statutory capital of $582 million and a risk-based capital ratio of 472 percent
- A.M. Best rating of B+ [Stable]
Strategic Focus
- Maximize the value of this segment by maintaining expense margins with declining business and retaining our customers
- Maintain strong and stable surplus position
- Manage market-related surplus volatility through hedging program
- Utilize excess capital to strategically support Property and Casualty growth plans
(1) Segment income excluding certain non-cash items is a non-GAAP financial measure and is reconciled to GAAP Segment Income on page 41 of the attached Annual Report on Form 10-K.
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