It is important to know that the company you trust to help you plan for your family's financial security is financially sound. With Presidential Life, you'll have no doubt.
Presidential Life is a New York-domiciled, New York-regulated life insurance and annuity company that has been helping people just like you achieve financial security since 1965. From its modest local beginnings in Rockland County, Presidential has developed into a company with a national network of regional sales directors supporting a field force of more than 16,500 independent financial services professionals active in 49 states and the District of Columbia. Annual premium sales of approximately $250 million in premium today, and the Company's assets exceed $3.9 billion (statutory), of which 492 million represents the Company's capital and surplus (IMR & AVR).
A.M. Best, the oldest insurance rating agency in the United States, has determined that Presidential Life is financially strong and has given it a rating of B+ ( Good), citing the company as having ". . . a good ability to meet their ongoing obligations to policyholders." In addition, Standard & Poor's Corporation (S&P), a leading provider of credit analysis, rates Presidential Life's financial strength BB along with other companies listed in its "secure range" because they exhibit "secure claims - paying abilities."
To learn more
about Presidential Life's financial strength, click on one of the
hyperlinks listed below:
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you will be leaving the Presidential Life Corporation site. Linked sites are provided only as a convenience to you. The inclusion of such
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*Including investment reserves (AVR and IMR)
PRESIDENTIAL
LIFE INSURANCE COMPANY as of 12/31/07
PARENT:
Presidential Life is a wholly-owned subsidiary of Presidential
Life Corporation, a publicly-owned
holding company.
A.M. BEST RATING:B+ ( Good)
S&P RATING:BB+ (Upgraded as of 4-29-08)
FITCH RATING:Aq (Strong)
CAPITAL & SURPLUS TO LIABILITIES: 14.32%
INVESTMENT GRADE BONDS: 94.5%
STATES: Admitted to D.C. and all states except New Hampshire.
MARKETING
PROFILE:
A financially stable New York-domiciled company doing business in 49 states and the District of Columbia, Presidential Life offers a broad portfolio of Life Insurance and Annuities emphasizing substantial guarantees and highly competitive initial and renewal rates.
PRESIDENTIAL LIFE INSURANCE COMPANY is located in Nyack, New York
10960 1-800-926-7599 or 1-888-PRES LIF Fax:
845-353-0273
INVESTED ASSETS (in millions)
12/31/07
12/31/06
$
%
$
%
Cash/Short Term
363.0
9.45
811.9
19.4
U. S. Treasury/Agencies
510.1
13.28
468.5
11.2
Foreign Government
8.9
0.23
8.8
0.2
Public Utilities
436.4
11.36
342.1
8.2
Real Estate
0.4
0.01
0.4
0.1
Corporates
2,076.7
54.07
2,100.7
50.2
Preferred Stocks
121.2
3.16
129.1
3.1
Common Stocks
8.7
0.23
27.4
0.6
Payor Swaption
7.0
0.18
9.8
0.2
Other Invested Assets
289.3
7.53
268.0
6.4
Policy Loans
19.2
0.50
18.0
0.4
TOTAL
3,840.90
100.0
4,184.7
100.0
CREDIT QUALITY DISTRIBUTION
(in millions)
12/31/07
12/31/06
NAIC Rating
Equivalent Public Ratings Moody's/S&P
$
%
$
%
1
Aaa/AAA
643.2
18.97
567.3
19.4
Aa/A
338.9
10.0
265.9
9.1
A/A
1,236.30
36.47
94.55
947.7
32.5
92.7
2
Baa/BBB
986.8
29.11
925.9
31.7
3
Ba/BB
116.4
3.43
144.0
4.9
4
B/B
48.0
1.42
50.7
1.8
5
Caa
20.4
0.60
15.7
0.5
6
Ca + Lower
0.3
0.01
2.9
0.1
TOTAL
$3,390.3
100
2,920.1
100
PRESIDENTIAL LIFE INSURANCE COMPANY
(in thousands)
12/31/2007
12/31/2006
ASSETS
Fixed Maturities
3,153,327
3,049,249
Common Stocks
8,690
27,407
Derivative Instruments
7,005
9,784
Policy Loans
19,194
17,965
Cash & Short Term Investments
340,384
806,583
Other Invested Assets
289,341
267,974
Other Assets
107,751
98,345
TOTAL ASSETS
3,925,692
4,277,307
LIABILITIES
Policy Reserves
3,423,849
3,809,712
Other Liabilities
9,976
20,395
TOTAL
3,433,825
3,830,107
CAPITAL, SURPLUS, AND INVESTMENT RESERVES
Asset Valuation Reserve
57,938
50,159
Interest Maintenance Reserve
73,556
66,937
Capital and Surplus
360,373
330,104
TOTAL
491,867
447,200
TOTAL LIABILITIES, CAPITAL AND SURPLUS
3,925,692
4,277,307
PRESIDENTIAL
LIFE INSURANCE COMPANY (in thousands)
Presidential Life Corporation (PLFE) had 2007 net income of $63.7 million ($2.16 per share) compared to $49.7 million ($1.69 per share) for 2006. Net income for the 4th quarter 2007 was $4.0 million ($0.14 per share), compared with $7.9 million ($.27 per share) for the same period in 2006.
Operating income for 2007 was $53.3 million ($1.81 per share) compared to $52.3 million ($1.78 per share) for 2006. Operating income for the 4th quarter 2007 was $13.7 million ($0.47 per share) compared with $13.3 million ($0.45 per share) for the same period in 2006.
Book value per share at December 31, 2007 … $22.40 (based on 29,553,710 shares outstanding).
For further discussion and analysis refer to Presidential’s website at www.presidentiallife.com. Access the Financial Data tab and select Recent SEC Filings to review the 10K. .
2007
2006
Total (000)
Per Share
Total (000)
Per Share
Operating Income
First Quarter
$ 12,178
$ .42
$ 13,326
$ .45
Second Quarter
11,532
.39
8,407
.29
Third Quarter
15,800
.53
17,233
.59
Fourth Quarter
13,741
.47
13,315
.45
Twelve Months
$ 53,251
$ 1.81
$ 52,281
$ 1.78
Net Investment Gains *
First Quarter
$ 8,927
$ .30
$ 7,092
$ .24
Second Quarter
12,430
.42
9,196
.31
Third Quarter
(1,182)
(.04)
(13,469)
(.46)
Fourth Quarter
(9,744)
(.33)
(5,386)
(.18)
Twelve Months
$ 10,431
$ .35
$ (2,567)
$ (.09)
Net Income
First Quarter
$ 21,105
$ .72
$ 20,418
$ .69
Second Quarter
23,962
.81
17,603
.60
Third Quarter
14,618
.49
3,764
.13
Fourth Quarter
3,997
.14
7,929
.27
Twelve Months
$ 63,682
$ 2.16
$ 49,714
$ 1.69
* Net of losses and tax effects.
Quarterly results are unaudited.
PRESIDENTIAL LIFE CORPORATION AND SUBSIDIARIES
(In
thousands, except share data)
Twelve Months Ended
December 31 (unaudited)
Twelve Months Ended
December 31 (unaudited)
.
2007
2006
2005
REVENUES:
Insurance revenues
.
43,022
44,348
42,028
Net investment income
.
294,860
316,415
339,711
Realized investment gains (losses)
.
24,833
(3,607)
75,010
Other income
.
1,410
1,670
1,832
Total Revenues
.
364,125
358,826
458,581
BENEFITS AND EXPENSES:
Benefits
.
91,044
90,069
88,273
Interest credited to policies, expenses on notes payable and other charges
.
138,984
163,217
176,140
Increase in liability for future policy benefits
.
(3,222)
(636)
966
Selling, General & Administrative expenses
.
40,659
36,013
44,990
Total Benefits and Expense
.
267,465
288,663
310,369
Income before taxes
.
96,660
70,163
148,212
PROVISION FOR INCOME TAXES
.
32,978
20,450
56,623
NET INCOME
.
63,682
49,713
91,589
Earnings per common share
.
$2.16
$1.69
$3.12
Weighted average number of shares outstanding during the period, basic
FOUNDED:
Corporation, a publicly-owned
holding company.
