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This document may contain forward-looking statements and information. Additional information and factors that could cause actual results to differ materially from any forward-looking statements or information in this document is available in our Form 10-K for the year ended December 31, 2017.

This document is a financial supplement to our fourth quarter 2018 earnings release. It is designed to enable comprehensive analysis of our ongoing business using the same core metrics that our management utilizes in assessing our business and making strategic and operational decisions. Throughout this document we provide financial information that is derived from our U.S. GAAP financial statements and adjusted for three different purposes, as follows:

Management utilizes these non-GAAP financial measures in managing the business and believes they present relevant and meaningful analytical metrics for evaluating the ongoing business. Reconciliations of non-GAAP to GAAP financial measures are included in this financial supplement.

Certain items throughout this supplement may not add due to rounding and as such, may not agree to other public reporting of the respective item. Certain items throughout this supplement are noted as ‘na’ to indicate not applicable. Certain variances are noted as ‘nm’ to indicate not meaningful. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity.

(Dollars in thousands)				Dec 31, 2016			Mar 31, 2017			Jun 30, 2017			Sep 30, 2017			Dec 31, 2017			Mar 31, 2018			Jun 30, 2018			Sep 30, 2018			Dec 31, 2018
Condensed Balance Sheets
Assets:
	Investments and cash excluding securities held to maturity			$	2,087,607		$	2,110,131		$	2,139,275		$	2,157,513		$	2,287,955		$	2,254,512		$	2,239,045		$	2,322,453		$	2,422,734
	Securities held to maturity				503,230			535,160			635,690			688,840			737,150			796,450			843,810			891,860			970,390
			Total investments and cash		2,590,837			2,645,291			2,774,965			2,846,353			3,025,105			3,050,962			3,082,855			3,214,313			3,393,124
	Due from reinsurers				4,193,562			4,219,547			4,191,754			4,238,978			4,205,173			4,263,111			4,199,275			4,196,021			4,141,569
	Deferred policy acquisition costs				1,713,065			1,767,681			1,833,877			1,900,122			1,951,892			1,998,985			2,053,445			2,107,814			2,133,920
	Other assets				653,525			681,156			719,765			734,425			705,661			759,973			772,058			769,387			730,933
	Separate account assets				2,287,953			2,356,320			2,424,937			2,486,960			2,572,872			2,419,707			2,389,007			2,419,997			2,195,501
			Total assets	$	11,438,943		$	11,669,996		$	11,945,297		$	12,206,839		$	12,460,704		$	12,492,737		$	12,496,640		$	12,707,531		$	12,595,047

Liabilities:
	Future policy benefits			$	5,673,890		$	5,736,313		$	5,812,217		$	5,894,882		$	5,954,524		$	6,004,101		$	6,057,112		$	6,132,750		$	6,168,157
	Other policy liabilities				631,700			642,640			645,443			656,434			685,885			693,223			673,912			682,126			700,094
	Income taxes				225,006			237,719			241,314			255,877			177,468			184,161			182,140			182,241			187,104
	Other liabilities				449,963			449,734			428,176			463,926			451,398			506,535			495,242			511,623			486,772
	Notes payable				372,919			373,011			373,103			373,196			373,288			373,381			373,474			373,567			373,661
	Surplus note				502,491			534,435			634,980			688,055			736,381			795,697			843,073			891,139			969,685
	Payable under securities lending				73,646			93,326			115,875			106,978			89,786			89,433			82,096			70,632			52,562
	Separate account liabilities				2,287,953			2,356,320			2,424,937			2,486,960			2,572,872			2,419,707			2,389,007			2,419,997			2,195,501
			Total liabilities		10,217,568			10,423,499			10,676,044			10,926,309			11,041,603			11,066,237			11,096,056			11,264,074			11,133,535

Stockholders’ equity:
	Common stock ($0.01 par value) (1)				457			455			450			444			443			440			432			430			427
	Paid-in capital				52,468			28,606			(0	)		(0	)		(0	)		(0	)		(0	)		(0	)		(0	)
	Retained earnings				1,138,851			1,182,038			1,224,375			1,228,546			1,375,090			1,416,564			1,409,104			1,452,841			1,489,520
	Treasury stock				—			—			—			—			—			—			—			—			—
	Accumulated other comprehensive income (loss), net:				—			—			—			—			—			—			—			—			—
		Net unrealized investment gains (losses) not other-than-temporarily impaired			42,852			47,534			49,883			47,191			39,686			14,039			1,493			(4,380	)		(7,253	)
		Net unrealized investment losses other-than-temporarily impaired			(62	)		(56	)		(54	)		(143	)		(113	)		(136	)		(136	)		(135	)		(116	)
		Cumulative translation adjustment			(13,193	)		(12,082	)		(5,401	)		4,492			3,995			(4,406	)		(10,309	)		(5,300	)		(21,064	)
			Total stockholders’ equity		1,221,374			1,246,497			1,269,253			1,280,530			1,419,101			1,426,500			1,400,584			1,443,456			1,461,513
			Total liabilities and stockholders' equity	$	11,438,943		$	11,669,996		$	11,945,297		$	12,206,839		$	12,460,704		$	12,492,737		$	12,496,640		$	12,707,531		$	12,595,047

Reconciliation of Adjusted Stockholders' Equity to Total Stockholders' Equity
Adjusted stockholders' equity				$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597		$	1,399,227		$	1,447,972		$	1,468,882
Reconciling items:					—			—			—			—			—			—			—			—			—
	Net unrealized investment gains (losses) not other-than-temporarily impaired				42,852			47,534			49,883			47,191			39,686			14,039			1,493			(4,380	)		(7,253	)
	Net unrealized investment losses other-than-temporarily impaired				(62	)		(56	)		(54	)		(143	)		(113	)		(136	)		(136	)		(135	)		(116	)
		Total reconciling items			42,791			47,479			49,829			47,048			39,573			13,903			1,357			(4,515	)		(7,370	)
			Total stockholders’ equity	$	1,221,374		$	1,246,497		$	1,269,253		$	1,280,530		$	1,419,101		$	1,426,500		$	1,400,584		$	1,443,456		$	1,461,513

Adjusted Stockholders' Equity Rollforward
Balance, beginning of period				$	1,149,131		$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597		$	1,399,227		$	1,447,972
	Net Income				56,874			52,069			63,107			66,635			168,443			65,714			86,699			85,139			86,541
	Shareholder dividends				(8,410	)		(8,882	)		(8,799	)		(9,120	)		(9,020	)		(11,278	)		(11,086	)		(10,920	)		(10,856	)
	Retirement of shares and warrants				(18,697	)		(36,353	)		(45,185	)		(57,916	)		(17,318	)		(51,563	)		(87,448	)		(34,508	)		(43,338	)
	Net foreign currency translation adjustment				(4,966	)		1,111			6,681			9,893			(497	)		(8,402	)		(5,903	)		5,009			(15,765	)
	Other, net				4,653			12,489			4,602			4,565			4,437			38,598			4,367			4,024			4,328
Balance, end of period				$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597		$	1,399,227		$	1,447,972		$	1,468,882

Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period				$	1,672,454		$	1,713,065		$	1,767,681		$	1,833,877		$	1,900,122		$	1,951,892		$	1,998,985		$	2,053,445		$	2,107,814
	General expenses deferred				8,226			9,489			9,061			9,350			8,887			9,599			9,800			8,886			8,497
	Commission costs deferred				89,647			95,923			99,341			102,113			99,411			104,314			103,192			100,890			96,697
	Amortization of deferred policy acquisition costs				(53,305	)		(51,850	)		(47,861	)		(53,384	)		(56,304	)		(60,165	)		(53,847	)		(59,534	)		(66,184	)
	Foreign currency impact and other, net				(3,957	)		1,054			5,653			8,166			(224	)		(6,655	)		(4,684	)		4,127			(12,904	)
Balance, end of period				$	1,713,065		$	1,767,681		$	1,833,877		$	1,900,122		$	1,951,892		$	1,998,985		$	2,053,445		$	2,107,814		$	2,133,920

																											YOY Q4												YOY YTD
(Dollars in thousands, except per-share data)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Earnings per Share
Basic earnings per share:
	Weighted-average common shares and fully vested equity awards			46,301,339			45,983,783			45,317,641			44,809,433			44,739,864			44,065,972			43,452,234			43,179,898			(1,629,535	)		-3.6	%		45,598,180			43,854,102			(1,744,078	)	-3.8%

	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	85,139		$	86,541		$	(81,902	)		-48.6	%	$	350,255		$	324,093		$	(26,161	)	-7.5%
	Less income attributable to unvested participating securities			(421	)		(430	)		(465	)		(1,171	)		(425	)		(483	)		(485	)		(487	)		684			58.4	%		(2,526	)		(1,894	)		632		25.0%
		Net income used in computing basic EPS	$	51,648		$	62,677		$	66,170		$	167,272		$	65,289		$	86,216		$	84,654		$	86,054		$	(81,218	)		-48.6	%	$	347,729		$	322,200		$	(25,529	)	-7.3%
		Basic earnings per share	$	1.12		$	1.36		$	1.46		$	3.73		$	1.46		$	1.96		$	1.95		$	1.99		$	(1.74	)		-46.6	%	$	7.63		$	7.35		$	(0.28	)	-3.7%

	Adjusted net operating income		$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	84,489		$	87,641		$	15,383			21.3	%	$	253,893		$	324,330		$	70,437		27.7%
	Less operating income attributable to unvested participating securities			(421	)		(430	)		(465	)		(502	)		(428	)		(479	)		(482	)		(493	)		9			1.8	%		(1,831	)		(1,895	)		(64	)	-3.5%
		Adjusted net operating income used in computing basic operating EPS	$	51,556		$	62,609		$	66,156		$	71,755		$	65,787		$	85,506		$	84,008		$	87,147		$	15,392			21.5	%	$	252,062		$	322,435		$	70,373		27.9%
		Basic adjusted operating income per share	$	1.11		$	1.36		$	1.46		$	1.60		$	1.47		$	1.94		$	1.93		$	2.02		$	0.42			26.0	%	$	5.53		$	7.35		$	1.82		33.0%

Diluted earnings per share:
	Weighted-average common shares and fully vested equity awards			46,301,339			45,983,783			45,317,641			44,809,433			44,739,864			44,065,972			43,452,234			43,179,898			(1,629,535	)		-3.6	%		45,598,180			43,854,102			(1,744,078	)	-3.8%
	Dilutive impact of contingently issuable shares			72,947			86,550			89,455			107,386			115,421			140,567			136,628			131,384			23,998			22.3	%		91,012			131,046			40,034		44.0%
		Shares used to calculate diluted EPS		46,374,286			46,070,333			45,407,096			44,916,819			44,855,285			44,206,539			43,588,862			43,311,282			(1,605,537	)		-3.6	%		45,689,192			43,985,148			(1,704,044	)	-3.7%

	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	85,139		$	86,541		$	(81,902	)		-48.6	%	$	350,255		$	324,093		$	(26,161	)	-7.5%
	Less income attributable to unvested participating securities			(421	)		(430	)		(464	)		(1,169	)		(424	)		(481	)		(484	)		(486	)		683			58.4	%		(2,521	)		(1,889	)		632		25.1%
		Net income used in computing diluted EPS	$	51,648		$	62,677		$	66,171		$	167,275		$	65,290		$	86,217		$	84,655		$	86,055		$	(81,219	)		-48.6	%	$	347,734		$	322,205		$	(25,529	)	-7.3%
		Diluted earnings per share	$	1.11		$	1.36		$	1.46		$	3.72		$	1.46		$	1.95		$	1.94		$	1.99		$	(1.74	)		-46.6	%	$	7.61		$	7.33		$	(0.29	)	-3.8%

	Adjusted net operating income		$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	84,489		$	87,641		$	15,383			21.3	%	$	253,893		$	324,330		$	70,437		27.7%
	Less operating income attributable to unvested participating securities			(420	)		(429	)		(464	)		(501	)		(427	)		(478	)		(480	)		(492	)		9			1.9	%		(1,828	)		(1,890	)		(62	)	-3.4%
		Adjusted net operating income used in computing diluted operating EPS	$	51,556		$	62,609		$	66,156		$	71,756		$	65,788		$	85,507		$	84,009		$	87,149		$	15,392			21.5	%	$	252,065		$	322,440		$	70,374		27.9%
		Diluted adjusted operating income per share	$	1.11		$	1.36		$	1.46		$	1.60		$	1.47		$	1.93		$	1.93		$	2.01		$	0.41			26.0	%	$	5.52		$	7.33		$	1.81		32.9%

																										YOY Q4												YOY YTD
		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Annualized Return on Equity
	Average stockholders' equity	$	1,233,936		$	1,257,875		$	1,274,892		$	1,349,815		$	1,422,801		$	1,413,542		$	1,422,020		$	1,452,485		$	102,669			7.6	%	$	1,279,129		$	1,427,712		$	148,582			11.6	%
	Average adjusted stockholders' equity	$	1,188,801		$	1,209,221		$	1,226,453		$	1,306,505		$	1,396,063		$	1,405,912		$	1,423,599		$	1,458,427		$	151,922			11.6	%	$	1,232,745		$	1,421,000		$	188,255			15.3	%

	Net income return on stockholders' equity		16.9	%		20.1	%		20.9	%		49.9	%		18.5	%		24.5	%		23.9	%		23.8	%		-26.1	%	nm				27.4	%		22.7	%		-4.7	%	nm
	Net income return on adjusted stockholders' equity		17.5	%		20.9	%		21.7	%		51.6	%		18.8	%		24.7	%		23.9	%		23.7	%		-27.8	%	nm				28.4	%		22.8	%		-5.6	%	nm

	Adjusted net operating income return on adjusted stockholders' equity		17.5	%		20.9	%		21.7	%		22.1	%		19.0	%		24.5	%		23.7	%		24.0	%		1.9	%	nm				20.6	%		22.8	%		2.2	%	nm

Capital Structure
	Debt-to-capital (1)		23.0	%		22.7	%		22.6	%		20.8	%		20.7	%		21.1	%		20.6	%		20.4	%		-0.5	%	nm				20.8	%		20.4	%		-0.5	%	nm

	Cash and invested assets to stockholders' equity		2.1	x		2.2	x		2.2	x		2.1	x		2.1	x		2.2	x		2.2	x		2.3	x		0.2	x	nm				2.1	x		2.3	x		0.2	x	nm
	Cash and invested assets to adjusted stockholders' equity		2.2	x		2.3	x		2.3	x		2.2	x		2.2	x		2.2	x		2.2	x		2.3	x		0.1	x	nm				2.2	x		2.3	x		0.1	x	nm

	Share count, end of period (2)		45,549,739			45,034,788			44,380,349			44,251,256			43,953,046			43,168,005			42,976,742			42,694,258			(1,556,998	)		-3.5	%		44,251,256			42,694,258			(1,556,998	)		-3.5	%
	Adjusted stockholders' equity per share	$	26.32		$	27.08		$	27.79		$	31.17		$	32.14		$	32.41		$	33.69		$	34.40		$	3.23			10.4	%	$	31.17		$	34.40		$	3.23			10.4	%

Financial Strength Ratings - Primerica Life Insurance Co
	Moody's	A2			A2			A2			A2			A2			A2			A1			A1			nm			nm			nm			nm			nm			nm
	S&P	AA-			AA-			AA-			AA-			AA-			AA-			AA-			AA-			nm			nm			nm			nm			nm			nm
	A.M. Best	A+			A+			A+			A+			A+			A+			A+			A+			nm			nm			nm			nm			nm			nm

Holding Company Senior Debt Ratings
	Moody's	Baa2			Baa2			Baa2			Baa2			Baa2			Baa2			Baa1			Baa1			nm			nm			nm			nm			nm			nm
	S&P	A-			A-			A-			A-			A-			A-			A-			A-			nm			nm			nm			nm			nm			nm
	A.M. Best	a-			a-			a-			a-			a-			a-			a-			a-			nm			nm			nm			nm			nm			nm

																											YOY Q4												YOY YTD
(Dollars in thousands)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Statement of Income
Revenues:
	Direct premiums		$	627,698		$	637,426		$	646,079		$	650,906		$	656,087		$	667,191		$	670,222		$	673,605		$	22,699			3.5	%	$	2,562,109		$	2,667,104		$	104,995			4.1	%
	Ceded premiums			(399,769	)		(406,043	)		(397,641	)		(397,318	)		(394,249	)		(403,449	)		(391,175	)		(392,290	)		5,028			1.3	%		(1,600,771	)		(1,581,164	)		19,607			1.2	%
		Net premiums		227,929			231,384			248,438			253,587			261,838			263,741			279,047			281,314			27,727			10.9	%		961,338			1,085,940			124,602			13.0	%
	Net investment income			19,894			19,742			19,922			19,459			19,017			20,030			20,622			21,760			2,301			11.8	%		79,017			81,430			2,413			3.1	%
	Commissions and fees:			—			—			—			—			—			—			—			—			—			0.0	%		—			—			—			0.0	%
		Sales-based (1)		60,517			60,692			53,488			58,307			64,461			64,307			64,181			67,041			8,734			15.0	%		233,005			259,991			26,986			11.6	%
		Asset-based (2)		64,474			67,424			70,279			72,982			74,649			75,672			78,318			75,012			2,030			2.8	%		275,158			303,652			28,494			10.4	%
		Account-based (3)		13,217			13,282			13,811			14,720			20,595			20,438			20,306			20,463			5,743			39.0	%		55,030			81,802			26,772			48.7	%
		Other commissions and fees		6,060			6,919			7,049			8,097			7,122			7,523			8,074			9,444			1,348			16.6	%		28,125			32,163			4,038			14.4	%
	Realized investment (losses) gains			134			104			22			1,079			(1,656	)		1,313			(126	)		(1,651	)		(2,730	)	nm				1,339			(2,121	)		(3,460	)	nm
	Other, net			12,939			14,150			14,291			14,710			13,897			14,790			14,359			13,940			(770	)		-5.2	%		56,091			56,987			896			1.6	%
	Total revenues			405,164			413,696			427,300			442,941			459,923			467,814			484,781			487,324			44,383			10.0	%		1,689,102			1,899,843			210,741			12.5	%
Benefits and expenses:
	Benefits and claims			102,385			99,512			105,864			108,259			116,890			105,069			118,787			116,837			8,578			7.9	%		416,019			457,583			41,564			10.0	%
	Amortization of DAC			51,850			47,861			53,384			56,304			60,165			53,847			59,534			66,184			9,880			17.5	%		209,399			239,730			30,331			14.5	%
	Insurance commissions			4,899			5,157			5,593			5,459			5,877			6,417			6,584			5,612			154			2.8	%		21,108			24,490			3,382			16.0	%
	Insurance expenses			37,621			36,920			37,636			35,102			41,109			43,451			41,925			41,671			6,569			18.7	%		147,280			168,156			20,877			14.2	%
	Sales commissions:			—			—			—			—			—			—			—			—			—			0.0	%		—			—			—			0.0	%
		Sales-based (1)		43,209			43,253			38,338			41,261			46,259			45,905			45,634			47,424			6,163			14.9	%		166,061			185,221			19,160			11.5	%
		Asset-based (2)		27,630			28,965			30,220			31,698			32,484			33,350			34,813			33,297			1,599			5.0	%		118,513			133,943			15,430			13.0	%
		Other sales commissions		2,865			3,221			3,463			3,864			3,777			3,700			4,141			4,602			738			19.1	%		13,414			16,220			2,806			20.9	%
	Interest expense			7,127			7,144			7,074			7,143			7,173			7,229			7,216			7,192			49			0.7	%		28,488			28,809			322			1.1	%
	Other operating expenses			52,736			45,274			45,528			45,762			63,228			55,083			54,712			56,584			10,822			23.6	%		189,301			229,606			40,306			21.3	%
	Total benefits and expenses			330,322			317,308			327,100			334,852			376,961			354,050			373,346			379,403			44,551			13.3	%		1,309,582			1,483,760			174,177			13.3	%
	Income before income taxes			74,841			96,389			100,200			108,089			82,962			113,764			111,435			107,922			(167	)		-0.2	%		379,519			416,083			36,564			9.6	%
Income taxes				22,772			33,282			33,565			(60,355	)		17,248			27,065			26,296			21,380			81,735			135.4	%		29,265			91,990			62,725		nm
	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	85,139		$	86,541		$	(81,902	)		-48.6	%	$	350,255		$	324,093		$	(26,161	)		-7.5	%

Income Before Income Taxes by Segment
Term Life			$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	74,338		$	72,117		$	3,879			5.7	%	$	245,657		$	281,903		$	36,246			14.8	%
Investment & Savings Products				37,119			39,684			39,050			46,982			39,985			43,228			45,052			45,647			(1,335	)		-2.8	%		162,835			173,911			11,076			6.8	%
Corporate & Other Distributed Products				(11,300	)		(5,149	)		(5,392	)		(7,131	)		(16,644	)		(5,291	)		(7,954	)		(9,842	)		(2,711	)		-38.0	%		(28,973	)		(39,731	)		(10,758	)		-37.1	%
	Income before income taxes		$	74,841		$	96,389		$	100,200		$	108,089		$	82,962		$	113,764		$	111,435		$	107,922		$	(167	)		-0.2	%	$	379,519		$	416,083		$	36,564			9.6	%

																										YOY Q4												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Reconciliation from Term Life Direct Premiums to Term Life Adjusted Direct Premiums
	Term Life direct premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	663,183		$	667,776		$	23,402			3.6	%	$	2,534,068		$	2,640,830		$	106,761			4.2	%
	Less: Premiums ceded to IPO Coinsurers		312,982			308,323			304,580			300,144			294,301			290,956			284,742			281,265			(18,879	)		-6.3	%		1,226,028			1,151,264			(74,764	)		-6.1	%
	Term Life adjusted direct premiums	$	307,397		$	322,163		$	334,251		$	344,230		$	355,065		$	369,548		$	378,441		$	386,511		$	42,281			12.3	%	$	1,308,041		$	1,489,566		$	181,525			13.9	%


Reconciliation from Term Life Ceded Premiums to Term Life Other Ceded Premiums
	Term Life ceded premiums	$	(398,077	)	$	(404,175	)	$	(395,772	)	$	(394,987	)	$	(392,561	)	$	(401,686	)	$	(389,332	)	$	(390,173	)	$	4,814			1.2	%	$	(1,593,011	)	$	(1,573,751	)	$	19,260			1.2	%
	Less: Premiums ceded to IPO Coinsurers		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		(284,742	)		(281,265	)		18,879			6.3	%		(1,226,028	)		(1,151,264	)		74,764			6.1	%
	Term Life other ceded premiums	$	(85,095	)	$	(95,852	)	$	(91,193	)	$	(94,843	)	$	(98,260	)	$	(110,730	)	$	(104,590	)	$	(108,908	)	$	(14,065	)		-14.8	%	$	(366,983	)	$	(422,487	)	$	(55,504	)		-15.1	%


Reconciliation from Net Investment Income to Adjusted Net Investment Income
	Net Investment Income	$	19,894		$	19,742		$	19,922		$	19,459		$	19,017		$	20,030		$	20,622		$	21,760		$	2,301			11.8	%	$	79,017		$	81,430		$	2,413			3.1	%
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)		(297	)		280		nm			nm				—			(1,680	)	nm			nm
	Adjusted net investment income	$	19,894		$	19,742		$	19,922		$	19,459		$	20,305		$	20,405		$	20,920		$	21,480		$	2,022			10.4	%	$	79,017		$	83,110		$	4,093			5.2	%


Reconciliation from Total Revenues to Adjusted Operating Revenues
	Total revenues	$	405,164		$	413,696		$	427,300		$	442,941		$	459,923		$	467,814		$	484,781		$	487,324		$	44,383			10.0	%	$	1,689,102		$	1,899,843		$	210,741			12.5	%
	Less: Realized investment gains/(losses)		134			104			22			1,079			(1,656	)		1,313			(126	)		(1,651	)	nm			nm				1,339			(2,121	)	nm			nm
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)		(297	)		280		nm			nm				—			(1,680	)	nm			nm
	Adjusted operating revenues	$	405,030		$	413,592		$	427,278		$	441,862		$	462,866		$	466,877		$	485,205		$	488,695		$	46,833			10.6	%	$	1,687,763		$	1,903,644		$	215,881			12.8	%


Reconciliation from Income Before Income Taxes to Adjusted Operating Income Before Income Taxes
	Income before income taxes	$	74,841		$	96,389		$	100,200		$	108,089		$	82,962		$	113,764		$	111,435		$	107,922		$	(167	)		-0.2	%	$	379,519		$	416,083		$	36,564			9.6	%
	Less: Realized investment gains/(losses)		134			104			22			1,079			(1,656	)		1,313			(126	)		(1,651	)	nm			nm				1,339			(2,121	)	nm			nm
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)		(297	)		280		nm			nm				—			(1,680	)	nm			nm
	Adjusted operating income before income taxes	$	74,708		$	96,285		$	100,178		$	107,010		$	85,906		$	112,827		$	111,859		$	109,293		$	2,283			2.1	%	$	378,180		$	419,884		$	41,704			11.0	%


Reconciliation from Net Income to Adjusted Net Operating Income
	Net income	$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	85,139		$	86,541		$	(81,902	)		-48.6	%	$	350,255		$	324,093		$	(26,161	)		-7.5	%
	Less: Income before income taxes reconciling items		134			104			22			1,079			(2,944	)		937			(424	)		(1,371	)	nm			nm				1,339			(3,801	)	nm			nm
	Less: Tax impact of income before income taxes reconciling items		(41	)		(36	)		(8	)		(350	)		675			(223	)		104			272		nm			nm				(434	)		827		nm			nm
	Less: Transition impact of tax reform (1)		—			—			—			95,457			1,768			—			970			—		nm			nm				95,457			2,737		nm			nm
	Adjusted net operating income	$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	84,489		$	87,641		$	15,383			21.3	%	$	253,893		$	324,330		$	70,437			27.7	%

																										YOY Q4												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Term Life Insurance
Revenues:
	Direct Premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	663,183		$	667,776		$	23,402			3.6	%	$	2,534,068		$	2,640,830		$	106,761			4.2	%
	Premiums ceded to IPO coinsurers (1)		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		(284,742	)		(281,265	)		18,879			6.3	%		(1,226,028	)		(1,151,264	)		74,764			6.1	%
	Adjusted direct premiums (2)		307,397			322,163			334,251			344,230			355,065			369,548			378,441			386,511			42,281			12.3	%		1,308,041			1,489,566			181,525			13.9	%
	Other ceded premiums (3)		(85,095	)		(95,852	)		(91,193	)		(94,843	)		(98,260	)		(110,730	)		(104,590	)		(108,908	)		(14,065	)		-14.8	%		(366,983	)		(422,487	)		(55,504	)		-15.1	%
	Net premiums		222,302			226,311			243,058			249,387			256,805			258,818			273,851			277,603			28,217			11.3	%		941,057			1,067,078			126,021			13.4	%
	Allocated net investment income		2,303			2,347			2,527			2,754			3,089			3,246			3,506			3,907			1,152			41.8	%		9,931			13,747			3,816			38.4	%
	Other, net		9,446			10,244			10,655			10,890			10,415			10,913			10,615			10,431			(460	)		-4.2	%		41,236			42,374			1,138			2.8	%
	Revenues		234,051			238,902			256,240			263,031			270,309			272,978			287,972			291,941			28,909			11.0	%		992,224			1,123,199			130,975			13.2	%

Benefits and expenses:
	Benefits and claims		97,771			95,532			101,351			103,559			112,831			101,755			113,988			113,201			9,642			9.3	%		398,212			441,775			43,563			10.9	%
	Amortization of DAC		50,133			44,937			50,386			56,294			56,673			51,257			56,904			63,779			7,485			13.3	%		201,751			228,613			26,862			13.3	%
	Insurance commissions		1,408			1,646			1,874			1,799			2,228			2,856			2,936			2,244			445			24.7	%		6,728			10,263			3,535			52.5	%
	Insurance expenses		35,717			34,932			36,086			33,142			38,956			41,282			39,807			40,600			7,458			22.5	%		139,876			160,645			20,769			14.8	%
	Benefits and expenses		185,029			177,047			189,697			194,794			210,688			197,150			213,635			219,824			25,030			12.8	%		746,567			841,297			94,730			12.7	%
	Income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	74,338		$	72,117		$	3,879			5.7	%	$	245,657		$	281,903		$	36,246			14.8	%

Investment & Savings Products
Revenues:
	Commissions and fees:
	Sales-based	$	60,517		$	60,692		$	53,488		$	58,307		$	64,461		$	64,307		$	64,181		$	67,041		$	8,734			15.0	%	$	233,005		$	259,991		$	26,986			11.6	%
	Asset-based		64,474			67,424			70,279			72,982			74,649			75,672			78,318			75,012			2,030			2.8	%		275,158			303,652			28,494			10.4	%
	Account-based		13,217			13,282			13,811			14,720			20,595			20,438			20,306			20,463			5,743			39.0	%		55,030			81,802			26,772			48.7	%
	Other, net		2,199			2,376			2,480			2,499			2,336			2,424			2,464			2,408			(91	)		-3.7	%		9,555			9,631			76			0.8	%
	Revenues		140,407			143,774			140,058			148,508			162,042			162,841			165,269			164,924			16,416			11.1	%		572,747			655,075			82,328			14.4	%

Benefits and expenses:
	Amortization of DAC		1,734			2,310			2,780			(656	)		3,442			2,080			2,349			1,896			2,552		nm				6,168			9,766			3,598			58.3	%
	Insurance commissions		2,959			3,050			3,219			3,278			3,199			3,132			3,193			3,042			(236	)		-7.2	%		12,505			12,567			62			0.5	%
	Sales commissions:
	Sales-based		43,209			43,253			38,338			41,261			46,259			45,905			45,634			47,424			6,163			14.9	%		166,061			185,221			19,160			11.5	%
	Asset-based		27,630			28,965			30,220			31,698			32,484			33,350			34,813			33,297			1,599			5.0	%		118,513			133,943			15,430			13.0	%
	Other operating expenses		27,756			26,512			26,451			25,945			36,673			35,147			34,228			33,619			7,674			29.6	%		106,664			139,667			33,003			30.9	%
	Benefits and expenses		103,288			104,090			101,008			101,526			122,057			119,613			120,217			119,277			17,751			17.5	%		409,912			481,164			71,252			17.4	%
	Income before income taxes	$	37,119		$	39,684		$	39,050		$	46,982		$	39,985		$	43,228		$	45,052		$	45,647		$	(1,335	)		-2.8	%	$	162,835		$	173,911		$	11,076			6.8	%

Corporate & Other Distributed Products
Revenues:
	Direct premiums	$	7,319		$	6,941		$	7,249		$	6,532		$	6,721		$	6,686		$	7,039		$	5,829		$	(703	)		-10.8	%	$	28,041		$	26,274		$	(1,766	)		-6.3	%
	Ceded premiums		(1,692	)		(1,868	)		(1,869	)		(2,331	)		(1,688	)		(1,763	)		(1,843	)		(2,118	)		214			9.2	%		(7,760	)		(7,413	)		347			4.5	%
	Net premiums		5,627			5,073			5,380			4,201			5,033			4,923			5,195			3,711			(490	)		-11.7	%		20,281			18,862			(1,419	)		-7.0	%
	Allocated net investment income		17,591			17,395			17,395			16,705			17,216			17,159			17,413			17,574			869			5.2	%		69,086			69,363			277			0.4	%
	Commissions and fees:
	Prepaid Legal Services		2,946			3,063			3,182			3,318			3,669			3,607			4,431			4,586			1,269			38.2	%		12,509			16,293			3,785			30.3	%
	Auto and Homeowners Insurance		1,815			2,166			1,980			2,238			1,347			1,800			1,516			2,386			149			6.6	%		8,199			7,048			(1,151	)		-14.0	%
	Other sales commissions		1,299			1,689			1,887			2,541			2,106			2,116			2,127			2,472			(70	)		-2.7	%		7,417			8,821			1,404			18.9	%
	Other, net		1,294			1,530			1,156			1,320			1,145			1,453			1,281			1,102			(219	)		-16.6	%		5,300			4,982			(318	)		-6.0	%
	Adjusted operating revenues		30,572			30,917			30,981			30,323			30,516			31,058			31,964			31,831			1,508			5.0	%		122,792			125,369			2,578			2.1	%

Benefits and expenses:
	Benefits and claims		4,615			3,980			4,513			4,700			4,059			3,314			4,799			3,636			(1,064	)		-22.6	%		17,807			15,808			(1,999	)		-11.2	%
	Amortization of DAC		(17	)		613			218			666			50			510			282			509			(157	)		-23.6	%		1,480			1,351			(129	)		-8.7	%
	Insurance commissions		532			461			500			382			450			428			455			326			(55	)		-14.5	%		1,875			1,660			(215	)		-11.5	%
	Insurance expenses		1,904			1,988			1,551			1,961			2,153			2,169			2,118			1,071			(889	)		-45.4	%		7,404			7,511			107			1.5	%
	Sales commissions		2,865			3,221			3,463			3,864			3,777			3,700			4,141			4,602			738			19.1	%		13,414			16,220			2,806			20.9	%
	Interest expense		7,127			7,144			7,074			7,143			7,173			7,229			7,216			7,192			49			0.7	%		28,488			28,809			322			1.1	%
	Other operating expenses		24,980			18,763			19,077			19,817			26,554			19,936			20,484			22,965			3,148			15.9	%		82,636			89,939			7,303			8.8	%
	Benefits and expenses		42,006			36,170			36,395			38,532			44,216			37,287			39,495			40,301			1,769			4.6	%		153,103			161,299			8,196			5.4	%
	Adjusted operating income before income taxes	$	(11,434	)	$	(5,254	)	$	(5,415	)	$	(8,209	)	$	(13,700	)	$	(6,228	)	$	(7,531	)	$	(8,471	)	$	(261	)		-3.2	%	$	(30,312	)	$	(35,930	)	$	(5,618	)		-18.5	%

																										YOY Q4												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Term Life Insurance Income Before Income Taxes
	Revenues:
	Direct Premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	663,183		$	667,776		$	23,402			3.6	%	$	2,534,068		$	2,640,830		$	106,761			4.2	%
	Premiums ceded to IPO coinsurers (1)		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		(284,742	)		(281,265	)		18,879			6.3	%		(1,226,028	)		(1,151,264	)		74,764			6.1	%
	Adjusted direct premiums (2)		307,397			322,163			334,251			344,230			355,065			369,548			378,441			386,511			42,281			12.3	%		1,308,041			1,489,566			181,525			13.9	%
	Other ceded premiums (3)		(85,095	)		(95,852	)		(91,193	)		(94,843	)		(98,260	)		(110,730	)		(104,590	)		(108,908	)		(14,065	)		-14.8	%		(366,983	)		(422,487	)		(55,504	)		-15.1	%
	Net premiums		222,302			226,311			243,058			249,387			256,805			258,818			273,851			277,603			28,217			11.3	%		941,057			1,067,078			126,021			13.4	%
	Allocated net investment income		2,303			2,347			2,527			2,754			3,089			3,246			3,506			3,907			1,152			41.8	%		9,931			13,747			3,816			38.4	%
	Other, net		9,446			10,244			10,655			10,890			10,415			10,913			10,615			10,431			(460	)		-4.2	%		41,236			42,374			1,138			2.8	%
	Revenues		234,051			238,902			256,240			263,031			270,309			272,978			287,972			291,941			28,909			11.0	%		992,224			1,123,199			130,975			13.2	%

	Benefits and expenses:
	Benefits and claims		97,771			95,532			101,351			103,559			112,831			101,755			113,988			113,201			9,642			9.3	%		398,212			441,775			43,563			10.9	%
	Amortization of DAC		50,133			44,937			50,386			56,294			56,673			51,257			56,904			63,779			7,485			13.3	%		201,751			228,613			26,862			13.3	%
	Insurance commissions		1,408			1,646			1,874			1,799			2,228			2,856			2,936			2,244			445			24.7	%		6,728			10,263			3,535			52.5	%
	Insurance expenses		35,717			34,932			36,086			33,142			38,956			41,282			39,807			40,600			7,458			22.5	%		139,876			160,645			20,769			14.8	%
	Benefits and expenses		185,029			177,047			189,697			194,794			210,688			197,150			213,635			219,824			25,030			12.8	%		746,567			841,297			94,730			12.7	%
	Income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	74,338		$	72,117		$	3,879			5.7	%	$	245,657		$	281,903		$	36,246			14.8	%

Total Term Life Insurance - Financial Analysis
	Primary direct premiums (4)	$	227,390		$	240,580		$	250,457		$	258,524		$	267,615		$	280,209		$	287,554		$	294,006		$	35,482			13.7	%	$	976,952		$	1,129,385		$	152,433			15.6	%
	Legacy direct premiums (5)		392,989			389,906			388,373			385,849			381,751			380,295			375,629			373,770			(12,079	)		-3.1	%		1,557,117			1,511,445			(45,672	)		-2.9	%
	Total direct premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	663,183		$	667,776		$	23,402			3.6	%	$	2,534,068		$	2,640,830		$	106,761			4.2	%

	Premiums ceded to IPO coinsurers	$	312,982		$	308,323		$	304,580		$	300,144		$	294,301		$	290,956		$	284,742		$	281,265		$	(18,879	)		-6.3	%	$	1,226,028		$	1,151,264		$	(74,764	)		-6.1	%
	% of Legacy direct premiums		79.6	%		79.1	%		78.4	%		77.8	%		77.1	%		76.5	%		75.8	%		75.3	%	nm			nm				78.7	%		76.2	%	nm			nm

	Benefits and claims, net (6)	$	182,866		$	191,384		$	192,544		$	198,402		$	211,091		$	212,485		$	218,577		$	222,109		$	23,707			11.9	%	$	765,195		$	864,262		$	99,067			12.9	%
	% of adjusted direct premiums		59.5	%		59.4	%		57.6	%		57.6	%		59.5	%		57.5	%		57.8	%		57.5	%	nm			nm				58.5	%		58.0	%	nm			nm

	DAC amortization & insurance commissions	$	51,542		$	46,584		$	52,260		$	58,094		$	58,901		$	54,113		$	59,839		$	66,023		$	7,930			13.6	%	$	208,479		$	238,876		$	30,397			14.6	%
	% of adjusted direct premiums		16.8	%		14.5	%		15.6	%		16.9	%		16.6	%		14.6	%		15.8	%		17.1	%	nm			nm				15.9	%		16.0	%	nm			nm

	Insurance expenses, net (7)	$	26,271		$	24,687		$	25,431		$	22,251		$	28,541		$	30,369		$	29,193		$	30,169		$	7,918			35.6	%	$	98,640		$	118,272		$	19,631			19.9	%
	% of adjusted direct premiums		8.5	%		7.7	%		7.6	%		6.5	%		8.0	%		8.2	%		7.7	%		7.8	%	nm			nm				7.5	%		7.9	%	nm			nm

	Total Term Life income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	74,338		$	72,117		$	3,879			5.7	%	$	245,657		$	281,903		$	36,246			14.8	%
	Term Life operating margin (8)		15.9	%		19.2	%		19.9	%		19.8	%		16.8	%		20.5	%		19.6	%		18.7	%	nm			nm				18.8	%		18.9	%	nm			nm

																											YOY Q4												YOY YTD
(Dollars in thousands, except as noted)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Key Statistics

Life-insurance licensed sales force, beginning of period				116,827			117,907			121,471			124,436			126,121			127,182			130,156			130,658			6,222			5.0	%		116,827			126,121			9,294			8.0	%
	New life-licensed representatives			10,903			12,947			12,783			11,902			11,730			13,544			11,715			11,052			(850	)		-7.1	%		48,535			48,041			(494	)		-1.0	%
	Non-renewal and terminated representatives			(9,823	)		(9,383	)		(9,818	)		(10,217	)		(10,669	)		(10,570	)		(11,213	)		(10,974	)		(757	)		-7.4	%		(39,241	)		(43,426	)		(4,185	)		-10.7	%
Life-insurance licensed sales force, end of period				117,907			121,471			124,436			126,121			127,182			130,156			130,658			130,736			4,615			3.7	%		126,121			130,736			4,615			3.7	%

Estimated annualized issued term life premium ($mills) (1):
	Premium from new policies		$	59.4		$	70.2		$	65.8		$	67.6		$	60.4		$	71.1		$	64.6		$	62.4		$	(5.2	)		-7.8	%	$	263.1		$	258.5		$	(4.6	)		-1.8	%
	Additions and increases in premium			15.1			16.5			16.4			17.5			16.9			18.7			18.4			19.1			1.5			8.8	%		65.5			73.0			7.5			11.4	%
		Total estimated annualized issued term life premium	$	74.5		$	86.7		$	82.2		$	85.1		$	77.3		$	89.8		$	82.9		$	81.4		$	(3.7	)		-4.4	%	$	328.6		$	331.5		$	2.9			0.9	%

Issued term life policies				70,642			84,033			78,056			80,068			70,821			83,754			74,892			72,122			(7,946	)		-9.9	%		312,799			301,589			(11,210	)		-3.6	%
Estimated average annualized issued term life premium per policy (1)(2)			$	841		$	836		$	843		$	845		$	853		$	849		$	862		$	865		$	20			2.4	%	$	841		$	857		$	16			1.9	%

Term life face amount in-force, beginning of period ($mills)			$	728,385		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604		$	781,276		$	23,865			3.2	%	$	728,385		$	763,831		$	35,446			4.9	%
	Issued term life face amount (3)			21,628			25,458			24,035			24,515			22,258			26,001			23,728			23,222			(1,292	)		-5.3	%		95,635			95,209			(426	)		-0.4	%
	Terminated term life face amount			(16,704	)		(14,994	)		(16,331	)		(17,929	)		(17,788	)		(16,341	)		(17,638	)		(18,525	)		(596	)		-3.3	%		(65,958	)		(70,291	)		(4,333	)		-6.6	%
	Foreign currency impact, net			447			2,207			3,280			(165	)		(2,570	)		(1,788	)		1,582			(4,932	)		(4,767	)	nm				5,769			(7,708	)		(13,477	)	nm
Term life face amount in-force, end of period			$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604		$	781,276		$	781,041		$	17,210			2.3	%	$	763,831		$	781,041		$	17,210			2.3	%

(1) Estimated annualized issued term life premium - estimated as average premium per $1,000 of face amounts issued on new policies and additions (before free look returns) multiplied by actual face amount issued on new policies, rider additions and face amount increases.

(3) Issued term life face amount - includes face amount on issued term life policies, additional riders added to existing policies, and face increases under increasing benefit riders.

																										YOY Q4												YOY YTD
(Dollars in thousands, except as noted)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change		% Change
Investment & Savings Products Income Before Income Taxes
	Revenues:
	Commissions and fees:
	Sales-based	$	60,517		$	60,692		$	53,488		$	58,307		$	64,461		$	64,307		$	64,181		$	67,041		$	8,734			15.0	%	$	233,005		$	259,991		$	26,986		11.6	%
	Asset-based		64,474			67,424			70,279			72,982			74,649			75,672			78,318			75,012			2,030			2.8	%		275,158			303,652			28,494		10.4	%
	Account-based		13,217			13,282			13,811			14,720			20,595			20,438			20,306			20,463			5,743			39.0	%		55,030			81,802			26,772		48.7	%
	Other, net		2,199			2,376			2,480			2,499			2,336			2,424			2,464			2,408			(91	)		-3.7	%		9,555			9,631			76		0.8	%
	Revenues		140,407			143,774			140,058			148,508			162,042			162,841			165,269			164,924			16,416			11.1	%		572,747			655,075			82,328		14.4	%

	Benefits and expenses:
	Amortization of DAC		1,734			2,310			2,780			(656	)		3,442			2,080			2,349			1,896			2,552		nm				6,168			9,766			3,598		58.3	%
	Insurance commissions		2,959			3,050			3,219			3,278			3,199			3,132			3,193			3,042			(236	)		-7.2	%		12,505			12,567			62		0.5	%
	Sales commissions:
	Sales-based		43,209			43,253			38,338			41,261			46,259			45,905			45,634			47,424			6,163			14.9	%		166,061			185,221			19,160		11.5	%
	Asset-based		27,630			28,965			30,220			31,698			32,484			33,350			34,813			33,297			1,599			5.0	%		118,513			133,943			15,430		13.0	%
	Other operating expenses		27,756			26,512			26,451			25,945			36,673			35,147			34,228			33,619			7,674			29.6	%		106,664			139,667			33,003		30.9	%
	Benefits and expenses		103,288			104,090			101,008			101,526			122,057			119,613			120,217			119,277			17,751			17.5	%		409,912			481,164			71,252		17.4	%
	Income before income taxes	$	37,119		$	39,684		$	39,050		$	46,982		$	39,985		$	43,228		$	45,052		$	45,647		$	(1,335	)		-2.8	%	$	162,835		$	173,911		$	11,076		6.8	%

Financial Analysis

	Fees paid based on client asset values (1)	$	4,884		$	5,088		$	5,440		$	5,697		$	5,690		$	5,833		$	6,037		$	5,962		$	265			4.7	%	$	21,109		$	23,522		$	2,412		11.4	%
	Fees paid based on fee-generating positions (2)		5,017			4,590			4,495			4,537			12,495			10,854			10,223			10,219			5,682			125.2	%		18,639			43,792			25,153		134.9	%
	Other operating expenses		17,855			16,834			16,516			15,711			18,488			18,460			17,968			17,437			1,726			11.0	%		66,916			72,354			5,437		8.1	%
	Total other operating expenses	$	27,756		$	26,512		$	26,451		$	25,945		$	36,673		$	35,147		$	34,228		$	33,619		$	7,674			29.6	%	$	106,664		$	139,667		$	33,003		30.9	%

	Sales-based net revenue as % of revenue-generating sales (3)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		—			—			0.00	%		0.00	%		—		—
	U.S.		1.27	%		1.25	%		1.26	%		1.28	%		1.24	%		1.27	%		1.26	%		1.35	%	nm			nm				1.26	%		1.28	%	nm		nm
	Canada		1.01	%		0.99	%		0.98	%		0.97	%		1.05	%		0.95	%		0.90	%		0.90	%	nm			nm				0.99	%		0.96	%	nm		nm
	Total		1.23	%		1.21	%		1.22	%		1.24	%		1.20	%		1.22	%		1.21	%		1.29	%	nm			nm				1.22	%		1.23	%	nm		nm

	Asset-based net revenue as % of average asset values (4)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		—			—			0.00	%		0.00	%		—		—
	U.S.		0.035	%		0.036	%		0.036	%		0.036	%		0.036	%		0.037	%		0.037	%		0.037	%	nm			nm				0.143	%		0.148	%	nm		nm
	Canada		0.129	%		0.123	%		0.120	%		0.154	%		0.111	%		0.123	%		0.121	%		0.122	%	nm			nm				0.527	%		0.478	%	nm		nm
	Total		0.051	%		0.050	%		0.050	%		0.055	%		0.048	%		0.051	%		0.050	%		0.051	%	nm			nm				0.206	%		0.200	%	nm		nm

	Account-based net revenue per average fee generating position (5)(6)	$	2.84		$	2.98		$	3.20		$	3.52		$	2.90		$	3.49		$	3.70		$	3.80		nm			nm			$	12.54		$	13.87		nm		nm

																													YOY Q4												YOY YTD
(Dollars in thousands, except as noted)					Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Key Statistics

	Product sales ($mills)
		U.S. Retail Mutual Funds			$	752.2		$	804.2		$	707.4		$	752.7		$	792.4		$	800.6		$	763.3		$	767.8		$	15.1			2.0	%	$	3,016.5		$	3,124.0		$	107.6			3.6	%
		Canada Retail Mutual Funds				232.8			182.7			170.8			199.3			276.2			199.2			181.7			182.6			(16.7	)		-8.4	%		785.6			839.7			54.1			6.9	%
		Indexed Annuities				80.9			83.6			64.2			58.4			67.5			71.9			78.8			88.2			29.8			51.1	%		287.0			306.5			19.4			6.8	%
		Variable Annuities and other				346.2			366.5			301.7			368.2			376.1			432.2			504.5			476.8			108.6			29.5	%		1,382.6			1,789.6			406.9			29.4	%
				Total sales-based revenue generating product sales		1,412.2			1,437.0			1,244.1			1,378.5			1,512.2			1,504.0			1,528.3			1,515.3			136.9			9.9	%		5,471.7			6,059.8			588.1			10.7	%
		Managed Accounts				70.8			72.4			125.4			159.7			188.8			204.3			190.5			169.4			9.7			6.1	%		428.2			753.0			324.8			75.9	%
		Segregated Funds				102.4			63.5			61.7			64.7			82.0			50.6			43.7			50.9			(13.8	)		-21.3	%		292.3			227.3			(65.0	)		-22.2	%
				Total product sales	$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9		$	1,762.4		$	1,735.7		$	132.8			8.3	%	$	6,192.2		$	7,040.1		$	847.9			13.7	%

		Canada Retail Mutual Funds			$	232.8		$	182.7		$	170.8		$	199.3		$	276.2		$	199.2		$	181.7		$	182.6		$	(16.7	)		-8.4	%	$	785.6		$	839.7		$	54.1			6.9	%
		Segregated Funds				102.4			63.5			61.7			64.7			82.0			50.6			43.7			50.9			(13.8	)		-21.3	%		292.3			227.3			(65.0	)		-22.2	%
			Total Canada product sales			335.2			246.2			232.5			264.0			358.2			249.8			225.4			233.6			(30.5	)		-11.5	%		1,077.9			1,067.0			(10.9	)		-1.0	%
			Total U.S. product sales			1,250.1			1,326.6			1,198.7			1,338.8			1,424.8			1,509.1			1,537.1			1,502.1			163.3			12.2	%		5,114.3			5,973.1			858.8			16.8	%
				Total product sales	$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9		$	1,762.4		$	1,735.7		$	132.8			8.3	%	$	6,192.2		$	7,040.1		$	847.9			13.7	%

	Client asset values, beginning of period ($mills)				$	52,339		$	54,925		$	56,591		$	58,671		$	61,167		$	60,821		$	61,777		$	64,234		$	5,563			9.5	%	$	52,339		$	61,167		$	8,828			16.9	%
		Inflows				1,585			1,573			1,431			1,603			1,783			1,759			1,762			1,736			133			8.3	%		6,192			7,040			848			13.7	%
		Outflows (1)				(1,266	)		(1,318	)		(1,258	)		(1,306	)		(1,571	)		(1,498	)		(1,499	)		(1,376	)		(71	)		-5.4	%		(5,147	)		(5,944	)		(798	)		-15.5	%
				Net flows		320			255			174			297			212			261			264			360			62			20.9	%		1,046			1,096			50		nm
		Foreign currency impact, net				47			241			354			(18	)		(283	)		(195	)		174			(543	)		(526	)	nm				624			(847	)		(1,472	)	nm
		Change in market value, net and other (2)				2,219			1,170			1,552			2,217			(276	)		891			2,019			(6,346	)		(8,563	)	nm				7,158			(3,712	)		(10,870	)	nm
	Client asset values, end of period				$	54,925		$	56,591		$	58,671		$	61,167		$	60,821		$	61,777		$	64,234		$	57,704		$	(3,463	)		-5.7	%	$	61,167		$	57,704		$	(3,463	)		-5.7	%
		Annualized net flows as % of beginning of period asset values				2.4	%		1.9	%		1.2	%		2.0	%		1.4	%		1.7	%		1.7	%		2.2	%		0.2	%	nm				2.0	%		1.8	%		-0.2	%	nm

	Average client asset values ($mills)
		U.S. Retail Mutual Funds			$	26,899		$	27,890		$	28,756		$	29,826		$	30,674		$	30,348		$	31,439		$	30,156		$	331			1.1	%	$	28,343		$	30,654		$	2,311			8.2	%
		Canada Retail Mutual Funds				6,434			6,673			6,960			7,255			7,508			7,444			7,610			7,252			(3	)	nm				6,831			7,454			623			9.1	%
		Managed Accounts				1,954			2,084			2,246			2,494			2,739			2,930			3,179			3,189			694			27.8	%		2,195			3,009			814			37.1	%
		Indexed Annuities				1,699			1,774			1,836			1,890			1,939			1,997			2,049			2,117			227			12.0	%		1,800			2,025			226			12.5	%
		Variable Annuities and other				14,505			14,982			15,394			15,928			16,333			16,176			16,669			15,982			54			0.3	%		15,202			16,290			1,088			7.2	%
		Segregated Funds				2,331			2,375			2,463			2,513			2,510			2,402			2,417			2,311			(202	)		-8.0	%		2,420			2,410			(10	)		-0.4	%
				Total	$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297		$	63,363		$	61,006		$	1,100			1.8	%	$	56,791		$	61,842		$	5,052			8.9	%

		Canada Retail Mutual Funds			$	6,434		$	6,673		$	6,960		$	7,255		$	7,508		$	7,444		$	7,610		$	7,252		$	(3	)	nm			$	6,831		$	7,454		$	623			9.1	%
		Segregated Funds				2,331			2,375			2,463			2,513			2,510			2,402			2,417			2,311			(202	)		-8.0	%		2,420			2,410			(10	)		-0.4	%
			Total Canada average client assets			8,765			9,048			9,423			9,768			10,018			9,846			10,027			9,562			(206	)		-2.1	%		9,251			9,864			613			6.6	%
			Total U.S. average client assets			45,058			46,730			48,233			50,138			51,685			51,451			53,336			51,444			1,306			2.6	%		47,540			51,979			4,439			9.3	%
				Total average client assets	$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297		$	63,363		$	61,006		$	1,100			1.8	%	$	56,791		$	61,842		$	5,052			8.9	%

	Average number of fee-generating positions (thous) (3)
		Recordkeeping and custodial				2,218			2,237			2,235			2,215			2,130			2,086			2,066			2,042			(173	)		-7.8	%		2,226			2,081			(145	)		-6.5	%
		Recordkeeping only				670			676			678			677			665			660			657			652			(25	)		-3.8	%		675			658			(17	)		-2.5	%
				Total		2,887			2,913			2,913			2,892			2,795			2,746			2,723			2,694			(198	)		-6.9	%		2,901			2,739			(162	)		-5.6	%

				As of or for the period ended December 31, 2018
											% of Total						Avg
				Market		Amortized		Unrealized			Market			Amortized			Book			Avg
(Dollars in thousands)				Value		Cost		G/(L)			Value			Cost			Yield			Rating
Investment Portfolio by Asset Class

Cash and cash equivalents				$	270,309	$	270,309	$	-			11.3	%		11.3	%

Fixed Income:
	Treasury				28,435		28,169		266			1.2	%		1.2	%		2.42	%	AAA
	Government				195,608		192,581		3,026			8.2	%		8.0	%		3.32	%	AA-
	Tax-Exempt Municipal				6,483		6,338		145			0.3	%		0.3	%		3.33	%	A-
	Corporate				1,319,985		1,330,907		(10,922	)		55.2	%		55.4	%		3.94	%	BBB+
	Mortgage-Backed				191,732		191,083		649			8.0	%		8.0	%		3.52	%	AAA
	Asset-Backed				75,753		76,004		(251	)		3.2	%		3.2	%		3.19	%	AA
	CMBS				132,822		132,739		82			5.6	%		5.5	%		4.60	%	AAA
	Private				129,558		131,663		(2,105	)		5.4	%		5.5	%		4.73	%	BBB
	Redeemable Preferred				2,869		2,947		(78	)		0.1	%		0.1	%		5.79	%	BBB
			Total Fixed Income		2,083,245		2,092,432		(9,188	)		87.1	%		87.2	%		3.89	%	A

Equities:
	Perpetual Preferred				15,272		15,272		-			0.6	%		0.6	%
	Common Stock				16,685		16,685		0			0.7	%		0.7	%
	Mutual Fund				5,722		5,722		0			0.2	%		0.2	%
	Other				-		-		-			0.0	%		0.0	%
			Total Equities		37,679		37,679		0			1.6	%		1.6	%

			Total Invested Assets	$	2,391,233	$	2,400,420	$	(9,188	)		100.0	%		100.0	%

Corporate Portfolio by Sector

	Banking			$	187,784	$	189,174	$	(1,391	)		14.2	%		14.2	%
	Consumer Non Cyclical				166,126		167,550		(1,425	)		12.6	%		12.6	%
	Reits				125,662		126,071		(409	)		9.5	%		9.5	%
	Energy				114,139		116,273		(2,134	)		8.6	%		8.7	%
	Insurance				103,183		104,057		(874	)		7.8	%		7.8	%
	Technology				101,165		101,969		(804	)		7.7	%		7.7	%
	Communications				90,084		89,944		139			6.8	%		6.8	%
	Consumer Cyclical				88,623		88,938		(315	)		6.7	%		6.7	%
	Capital Goods				83,989		86,067		(2,078	)		6.4	%		6.5	%
	Electric				72,929		73,055		(126	)		5.5	%		5.5	%
	Basic Industry				68,342		68,499		(158	)		5.2	%		5.1	%
	Transportation				50,546		51,699		(1,152	)		3.8	%		3.9	%
	Brokerage				35,231		35,132		99			2.7	%		2.6	%
	Finance Companies				13,659		13,924		(265	)		1.0	%		1.0	%
	Industrial Other				11,415		11,381		34			0.9	%		0.9	%
	Natural Gas				4,424		4,395		29			0.3	%		0.3	%
	Financial Other				1,699		1,780		(81	)		0.1	%		0.1	%
	Utility Other				986		998		(12	)		0.1	%		0.1	%
			Total Corporate portfolio	$	1,319,985	$	1,330,907	$	(10,922	)		100.0	%		100.0	%

Fixed-Maturity Securities - Effective Maturity


Effective maturity
		< 1 Yr.		$	274,384	$	272,978	$	1,405			13.2	%		13.0	%		4.50	%
		1-2 Yrs.			223,621		223,331		290			10.7	%		10.7	%		3.75	%
		2-5 Yrs.			846,922		850,060		(3,138	)		40.7	%		40.6	%		3.68	%
		5-10 Yrs.			681,910		691,933		(10,023	)		32.7	%		33.1	%		3.91	%
		> 10 Yrs.			56,408		54,130		2,278			2.7	%		2.6	%		4.56	%
			Total Fixed Income	$	2,083,245	$	2,092,432	$	(9,188	)		100.0	%		100.0	%		3.89	%

Duration

Fixed Income portfolio duration					3.5	years

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

(Dollars in thousands)
Investment Portfolio Quality Ratings (1)
			Amortized Cost		% of Total
Total Fixed Income portfolio:
	Rating
	AAA		$	444,466		21.2	%
	AA			217,541		10.4	%
	A			469,044		22.4	%
	BBB			898,694		42.9	%
	Below Investment Grade			59,368		2.8	%
	NA			3,319		0.2	%
		Total Fixed Income	$	2,092,432		100.0	%




			Amortized Cost		% of Total							Amortized Cost		% of Total
Corporate asset class:								Private asset class:
	Rating								Rating
	AAA		$	12,594		0.9	%		AAA			$	-		—
	AA			104,105		7.8	%		AA				1,032		0.8	%
	A			391,646		29.4	%		A				12,713		9.7	%
	BBB			766,615		57.6	%		BBB				115,927		88.0	%
	Below Investment Grade			54,997		4.1	%		Below Investment Grade				1,990		1.5	%
	NA			950		0.1	%		NA				-		—
		Total Corporate	$	1,330,907		100.0	%				Total Private	$	131,663		100.0	%



CMBS asset class:								Mortgage-Backed asset class:
	Rating								Rating
	AAA		$	127,670		96.2	%		AAA			$	189,274		99.1	%
	AA			-		—			AA				268		0.1	%
	A			4,176		3.1	%		A				1,174		0.6	%
	BBB			-		—			BBB				252		0.1	%
	Below Investment Grade			894		0.7	%		Below Investment Grade				62		0.0	%
	NA			-		—			NA				54		0.0	%
		Total CMBS	$	132,739		100.0	%				Total Mortgage-Backed	$	191,083		100.0	%



Asset-Backed asset class:								Treasury & Government asset classes:
	Rating								Rating
	AAA		$	46,468		61.1	%		AAA			$	67,947		30.8	%
	AA			6,006		7.9	%		AA				105,803		47.9	%
	A			19,748		26.0	%		A				37,612		17.0	%
	BBB			1,309		1.7	%		BBB				8,120		3.7	%
	Below Investment Grade			157		0.2	%		Below Investment Grade				1,269		0.6	%
	NA			2,315		3.0	%		NA				0		0.0	%
		Total Asset-Backed	$	76,004		100.0	%				Total Treasury & Government	$	220,750		100.0	%



NAIC Designations

	1		$	939,746		52.7	%
	2			784,186		44.0	%
	3			47,403		2.7	%
	4			11,938		0.7	%
	5			961		0.1	%
	6			3		0.0	%			`
		U.S. Insurer Fixed Income (2)		1,784,237		100.0	%
	Other (3)			345,874
	Cash and cash equivalents			270,309
		Total Invested Assets	$	2,400,420

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

																												YOY Q4
(Dollars in thousands)				Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			$ Change			% Change
Net Investment Income by Source
	Fixed-maturity securities (available-for-sale)			$	19,069		$	19,200		$	19,268		$	19,340		$	19,289		$	19,743		$	20,142		$	20,183		$	843		nm
	Fixed-maturity securities (held-to-maturity)				5,718			6,087			7,231			7,829			8,373			9,052			9,592			10,467			2,638		33.7%
	Equity Securities				535			515			525			519			513			466			482			495			(24	)	-4.7%
	Deposit asset underlying 10% reinsurance treaty				1,032			770			869			299			1,181			1,270			1,392			1,480			1,181		nm
	Deposit asset - Mark to Market				—			—			—			—			(1,288	)		(375	)		(297	)		280			280		nm
	Policy loans and other invested assets				305			317			395			397			411			390			391			478			81		20.4%
	Cash & cash equivalents				194			246			282			402			586			641			664			1,030			628		156.3%
			Total investment income		26,853			27,135			28,570			28,786			29,065			31,187			32,366			34,413			5,627		19.5%
	Investment expenses				1,241			1,306			1,417			1,498			1,675			2,105			2,152			2,186			688		45.9%
	Interest Expense on Surplus Note				5,718			6,087			7,231			7,829			8,373			9,052			9,592			10,467			2,638		33.7%
			Net investment income	$	19,894		$	19,742		$	19,922		$	19,459		$	19,017		$	20,030		$	20,622		$	21,760		$	2,301		11.8%
		Fixed income book yield, end of period			4.18	%		4.11	%		4.04	%		3.97	%		3.92	%		3.91	%		3.88	%		3.89	%
		New money yield			2.31	%		2.83	%		2.85	%		2.28	%		2.43	%		3.16	%		3.34	%		2.81	%

																												YOY Q4
				Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018			% Pt Change
Fixed Income Portfolio Quality Ratings
	Rating
	AAA				17.4	%		17.3	%		18.6	%		19.2	%		19.8	%		20.9	%		22.0	%		21.2	%		2.1	%
	AA				9.5	%		8.4	%		8.5	%		8.4	%		8.6	%		9.8	%		10.6	%		10.4	%		2.0	%
	A				21.6	%		23.5	%		22.5	%		22.2	%		23.4	%		23.0	%		22.2	%		22.4	%		0.3	%
	BBB				46.0	%		45.8	%		46.3	%		46.5	%		44.6	%		43.0	%		42.2	%		42.9	%		-3.6	%
	Below Investment Grade				5.0	%		4.5	%		3.7	%		3.5	%		3.4	%		3.1	%		2.7	%		2.8	%		-0.7	%
	NA				0.4	%		0.3	%		0.3	%		0.2	%		0.2	%		0.2	%		0.2	%		0.2	%		-0.0	%
			Total Fixed Income		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%	nm

			Average rating by amortized cost	A-			A-			A-			A			A			A			A			A			na

				As of December 31, 2018									As of December 31, 2018						As of December 31, 2018
				Market Value			Amortized Cost			Credit Rating			Market Value		Amortized Cost				Market Value		Amortized Cost
Top 25 Exposures											Foreign Exposure (1)						Government Investments (1)

	1	Canada		$	23,228		$	23,027		AAA	Canada		$	65,932	$	66,353	AAA		$	3,232	$	3,250
	2	Comcast Corp			13,205			13,248		A-	Australia			47,830		48,104	AA			13,808		13,802
	3	Wells Fargo & Co			12,974			13,207		A-	United Kingdom			44,550		44,922	A			11,202		11,066
	4	Province of Quebec Canada			12,957			12,299		AA-	France			19,411		19,445	BBB			8,069		8,120
	5	Morgan Stanley			11,973			12,049		A+	Germany			18,894		19,200	Below Investment Grade			1,261		1,269
	6	Bank of America Corp			11,741			11,837		A-	Switzerland			15,120		15,237	NA			—		—
	7	Province of British Columbia Canada			11,540			11,497		AAA	Ireland			14,942		15,149		Total	$	37,573	$	37,507
	8	Office Properties Income Trust			11,405			11,456		BBB-	Netherlands			13,762		13,081
	9	Province of Alberta Canada			10,897			10,877		A+	Bermuda			12,675		12,673
	10	Province of Ontario Canada			10,799			10,566		A+	Cayman Islands			11,451		11,522	Non-Government Investments (1)
	11	AT&T Inc			9,264			8,779		BBB+	Japan			7,887		7,900
	12	American Express Co			9,186			9,316		BBB+	Belgium			6,066		6,119	AAA		$	4,350	$	4,349
	13	City of Toronto Canada			8,964			9,021		AA	Norway			5,880		5,981	AA			33,286		33,671
	14	Welltower Inc			8,821			8,791		BBB+	Mexico			5,398		5,404	A			83,716		84,081
	15	Bank of New York Mellon Corp			8,750			8,877		AA-	Israel			5,141		5,263	BBB			178,134		178,591
	16	Province of Manitoba Canada			8,616			8,596		A+	Emerging Markets (2)			12,354		12,421	Below Investment Grade			4,680		4,926
	17	Apple Inc			8,245			8,273		AA+	All Other			34,444		34,352	NA			—		—
	18	Municipal Finance Authority of British Columbia			8,210			8,283		AAA		Total	$	341,737	$	343,125		Total	$	304,164	$	305,618
	19	Enbridge Inc			8,088			8,132		BBB+
	20	Province of Newfoundland and Labrador			7,803			7,484		A
	21	Cigna Corp			7,780			7,824		A-
	22	JPMorgan Chase & Co			7,629			7,691		A-
	23	Fifth Third Bancorp			7,563			7,588		BBB+
	24	American Airlines Group Inc			7,464			7,846		AA-
	25	City of Montreal Canada			7,460			7,232		AA-
			Total	$	254,561		$	253,797

			% of total fixed income portfolio		10.6	%		10.6	%

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

(Dollars in millions)			2014			2015			2016			2017			2018			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			Q3 2018			Q4 2018


Recruits				190,439			228,115			262,732			303,867			290,886			70,983			78,273			90,210			64,401			76,230			76,520			76,146			61,990


Life-insurance licensed sales force, beginning of period				95,566			98,358			106,710			116,827			126,121			116,827			117,907			121,471			124,436			126,121			127,182			130,156			130,658
	New life-licensed representatives			33,832			39,632			44,724			48,535			48,041			10,903			12,947			12,783			11,902			11,730			13,544			11,715			11,052
	Non-renewal and terminated representatives			(31,040	)		(31,280	)		(34,607	)		(39,241	)		(43,426	)		(9,823	)		(9,383	)		(9,818	)		(10,217	)		(10,669	)		(10,570	)		(11,213	)		(10,974	)
Life-insurance licensed sales force, end of period				98,358			106,710			116,827			126,121			130,736			117,907			121,471			124,436			126,121			127,182			130,156			130,658			130,736


Issued term life policies				220,984			260,059			298,244			312,799			301,589			70,642			84,033			78,056			80,068			70,821			83,754			74,892			72,122


Issued term life face amount			$	69,574		$	79,111		$	89,869		$	95,635		$	95,209		$	21,628		$	25,458		$	24,035		$	24,515		$	22,258		$	26,001		$	23,728		$	23,222


Term life face amount in force, beginning of period			$	674,868		$	681,927		$	693,194		$	728,385		$	763,831		$	728,385		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604		$	781,276
	Issued term life face amount			69,574			79,111			89,869			95,635			95,209			21,628			25,458			24,035			24,515			22,258			26,001			23,728			23,222
	Terminated term life face amount			(54,962	)		(53,580	)		(57,238	)		(65,958	)		(70,291	)		(16,704	)		(14,994	)		(16,331	)		(17,929	)		(17,788	)		(16,341	)		(17,638	)		(18,525	)
	Foreign currency impact, net			(7,553	)		(14,263	)		2,560			5,769			(7,708	)		447			2,207			3,280			(165	)		(2,570	)		(1,788	)		1,582			(4,932	)
Term life face amount in force, end of period			$	681,927		$	693,194		$	728,385		$	763,831		$	781,041		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604		$	781,276		$	781,041


Estimated annualized issued term life premium
	Premium from new policies		$	179.8		$	212.4		$	245.2		$	263.1		$	258.5		$	59.4		$	70.2		$	65.8		$	67.6		$	60.4		$	71.1		$	64.6		$	62.4
	Additions and increases in premium			51.6			54.9			60.4			65.5			73.0			15.1			16.5			16.4			17.5			16.9			18.7			18.4			19.1
		Total estimated annualized issued term life premium	$	231.4		$	267.3		$	305.7		$	328.6		$	331.5		$	74.5		$	86.7		$	82.2		$	85.1		$	77.3		$	89.8		$	82.9		$	81.4


Investment & Savings product sales			$	5,682.3		$	5,856.8		$	5,594.3		$	6,192.2		$	7,040.1		$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9		$	1,762.4		$	1,735.7

Investment & Savings average client asset values			$	46,936		$	48,477		$	49,427		$	56,791		$	61,842		$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297		$	63,363		$	61,006

	Page
Preface, definition of Non-GAAP financial measures	3
Condensed balance sheets and reconciliation of balance sheet non-GAAP to GAAP financial measures	4
Financial results and other statistical data	5
Statements of income	6
Reconciliation of statement of income GAAP to non-GAAP financial measures	7
Segment operating results	8
Term Life Insurance segment - financial results, key statistics, and financial analysis	9-10
Investment and Savings Products segment - financial results, financial analysis, and key statistics	11-12
Investment portfolio	13-15
Five-year historical key statistics	16