Protective Life Corp (PL) 2012年年度报告「NYSE」.pdf

1、2011 Annual ReportTMProtective.Our mission is in our name.We protect the financial future of our customers and those who depend upon them.By helping people protect their tomorrow,we free them to embrace and enjoy their lives today.Our vision is clear.Our strategy is in motion.Our future is bright.By

2、 most measures,2011 was an outstanding year for our Company.Our teams hard work and discipline produced strong financial results across the board even in the face of strong headwinds arising from extremely low interest rates,a tenuous recovery in the U.S.economy and financial distress in the Euro Zo

3、ne.Financial highlights for the year include:Fully diluted operating earnings per share of$3.65,a 34%increase over 2010.Net income of$339 million,a record level and up 30%over 2010.Operating income return on average equity of 10%,up 1.8%from our operating income return on average equity in 2010.Tota

4、l adjusted statutory capital of$2.9 billion,a record level,even after we committed more than$500 million on two acquisitions at year-end 2010 and in April 2011.A risk based capital ratio at year-end of 433%,well above our plan.Continued high credit ratings with a stable outlook from the four major r

5、ating agencies.Reinitiation of our share repurchase program,acquiring 4.1 million shares,which represented 4.8%of total outstanding shares at the beginning of the year.Continued improvement in asset quality;at year-end only about 5%of securities in our investment portfolio were rated below investmen

6、t grade under regulatory standards.Successful progress to integrate the Liberty Life and United Investors acqui-sitions,adding about$59 million to pre-tax operating earnings for the year.Solid earnings results,with sales on or ahead of our plans in the Life Marketing,Annuities and Asset Protection s