If the Company's assumptions and estimates are incorrect or do not come to fruition, or if the Company does not achieve all of these key factors, then the Company's actual performance could vary materially from the forward-looking statements made herein. The Company disclaims any obligation to update forward-looking information. This product is also distributed by the Company's multi-line exclusive agents and is available for purchase over the Internet at the Company's home page. Individual life insurance products are principally sold by the Company's exclusive agent producers. Growth in brokerage income for the first quarter was flat due to lower override commissions with selected life insurance carriers.
Individual life benefits as a percentage of premium reflects increased mortality for the quarter.
The Company continues to realize increasing cost efficiencies from recently implemented digital imaging and automated policy processing technologies. This allows the Company to increase production without increasing costs. The Company attempts to minimize these risks by following a conservative investment strategy and by contracting with reinsuring companies that meet high standards for rating criteria and other qualifications. The Company invests in government, governmental agency and high quality corporate bonds having an A rating or better. The fixed maturity portfolio had an average rating of AA- at March 31, 2001.