Improving earnings with fixed-interest coverage of more than 5x in 2003, up from 2x in 2001, attributable to debt reductions and strong profits at the operating companies. Leadership position in the equity index annuity market, which is one of the fastest growing markets in the insurance industry. Large distribution of independent agent with an excellent relationship with key national marketing organizations. Entrepreneurial, but prudent, management team that has built the company from a start up firm in 1995 to a key competitor in the annuity market place. The management team has also demonstrated the ability to slow down growth to maintain its long-term financial strength by improving capital and profitability. Excellent cash flows and liquidity as a result of the
