Unified Life Insurance Company - LogoUnified Life Insurance Company - Title

Balance Sheet as of March 31, 2009

Assets
Bonds $99,733,153
Mortgage Loans $665,852
Policy Loans $8,570,728
Cash & Equivalents $13,513,745
Premiums Due & Deferred $2,468,751
Accrued Investment Income $700,892
Goodwill $1,406,469
Amounts Held By Administrator $4,207,122
Other Assets $2,847,331
Total Assets $133,754,043
Liabilities
Aggregate Reserves $108,415,085
Deposit Funds $2,625,555
Contract Claims $3,891,932
Funds Held Under Reinsurance Treaties $3,668,519
Other Liabilities $3,237,302
Total Liabilities $121,838,393
Capital and Surplus
Common Stock $1,750,000
Preferred Stock $750,000
Paid in Surplus $16,298,618
Unamortized costs of merged companies ($7,803,992)
Unassigned Surplus

$921,024

Total Capital and Surplus $11,915,650
Total Liabilities & Capital Surplus $133,754,043

Income Statement for the Year Ending March 31, 2009

Income
Premiums and annuity considerations $5,929,957
Net investment income $1,774,350
Commissions and expense allowances on reinsurance ceded $171,713
Experience refunds $96,860
Reinsurance income on assumed modco $1,142,202
Administration fees $168,038
Total Income $9,283,120
Expense
Death benefits $1,832,831
Benefits under accident and health contracts $3,646,629
Surrender benefits $1,670,553
Increase in aggregate reserves ($1,270,621)
Direct commissions $369,391
Assumed commissions and expense allowances $125,910
General insurance expenses $1,606,687
Other Expenses $451,282
Total Expense $8,437,560
Net gain from operations after dividends to policyholders and before federal income taxes $845,560
Federal income taxes incurred $100,000
Net Income $745,560
Capital and Surplus Account
Capital and Surplus, December 31, prior year $11,145,464
Net income $745,560
Change in nonadmitted assets ($32,188)
Other capital and surplus account changes

$56,814

Capital and Surplus, December 31, current year $11,915,650

 

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