ASSETS 2000 1999
Investments (Notes 2c and 5):
Fixed maturities available for sale, at fair value
(amortized cost: 2000, $746,060; 1999, $734,466) . . . . . . . . . $ 751,738 $ 717,560
Equity securities, at fair value (cost: 2000, $3,819; 1999, $5,120) 3,547 4,838
Policy loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,077 25,640
Other invested assets . . . . . . . . . . . . . . . . . . . . . . . 4,318 5,506
Total investments . . . . . . . . . . . . . . . . . . . . . . . . . 784,680 753,544
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . 40,250 58,753
Accrued investment income . . . . . . . . . . . . . . . . . . . . . 11,459 11,506
Deferred policy acquisition costs (Note 2d) . . . . . . . . . . . . 48,651 34,943
Amounts due from reinsurers (Note 11) . . . . . . . . . . . . . . . 202,929 196,960
Due and unpaid premiums . . . . . . . . . . . . . . . . . . . . . . 3,680 3,578
Deferred income tax asset (Note 6) . . . . . . . . . . . . . . . . . 65,014 70,968
Goodwill (Note 2o) . . . . . . . . . . . . . . . . . . . . . . . . . 6,712 4,201
Present value of future profits . . . . . . . . . . . . . . . . . . 5,802 1,226
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,687 17,742
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,189,864 1,153,421
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Policyholder account balances (Note 2e) . . . . . . . . . . . . . . 223,681 238,665
Reserves for future policy benefits . . . . . . . . . . . . . . . . 575,239 560,777
Policy and contract claims - life . . . . . . . . . . . . . . . . . 7,207 5,644
Policy and contract claims - health . . . . . . . . . . . . . . . . 77,884 72,261
Loan payable (Note 12) . . . . . . . . . . . . . . . . . . . . . . . 69,650 70,000
Amounts due to reinsurers . . . . . . . . . . . . . . . . . . . . . 2,877 85
Restructuring liability (Note 4) . . . . . . . . . . . . . . . . . . 2,955 9,980
Negative goodwill (Note 2o and 4) . . . . . . . . . . . . . . . . . 1,944 9,622
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 54,478 52,422
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 1,015,915 1,019,456
Commitments and contingencies (Note 13)
STOCKHOLDERS' EQUITY (Note 8)
Common stock (Authorized: 80 million shares, issued and outstanding:
2000, 46.8 million shares; 1999, 45.9 million shares) . . . . . . . 468 459
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . 128,625 122,924
Accumulated other comprehensive income (loss) . . . . . . . . . . . 4,875 (6,887)
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . 40,354 17,469
Less: Treasury Stock (0.1 million shares) . . . . . . . . . . . . . (373) -
Total stockholders' equity . . . . . . . . . . . . . . . . . . . . 173,949 133,965
Total liabilities and stockholders' equity . . . . . . . . . . . . $1,189,864 $1,153,421
See notes to consolidated financial statements.
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