UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported: November 15, 2005)
AMERUS GROUP CO.
(Exact Name of Registrant as Specified in its Charter)
| |
|
|
|
|
| IOWA
|
|
001-15166
|
|
42-1458424 |
|
|
|
|
|
|
(State or Other Jurisdiction
of Incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer Identification
No.) |
| |
|
|
699 WALNUT STREET
DES MOINES, IOWA
|
|
50309-3948 |
|
|
|
|
| (Address of principal executive offices)
|
|
(Zip Code) |
Registrant’s telephone number, including area code: (515) 362-3600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
|
|
|
| o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
| o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12) |
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
AmerUs Group Co.’s (the “Company”) statutory adjusted capital for the nine months ended September
30, 2005 was $1.298 billion.
ITEM 7.01. REGULATION FD DISCLOSURE
The Company expects the following results at December 31, 2005: an NAIC risk based capital level
of 345%; a statutory capitalization of 7.0%; a cash interest coverage of 3.9x; and an operating
return on equity1 of 12.5%.
This Report on Form 8-K and the exhibits hereto contain statements which constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995, including
statements relating to trends in operations and financial results and the business and the products
of the Company and its subsidiaries, as well as other statements including words such as
“anticipate,” “believe,” “plan,”
“estimate,” “expect,” “intend” and other similar expressions. Forward-looking statements are made based upon management’s current expectations and beliefs
concerning future developments and their potential effects on the Company. Such forward-looking
statements are not guarantees of future performance. Factors that may cause our actual results to
differ materially from those contemplated by these forward-looking statements include, among
others, the following possibilities: (a) general economic conditions and other factors, including
prevailing interest rate levels and stock and bond market performance, which may affect our ability
to sell our products, the market value of our investments and the lapse rate and profitability of
policies; (b) our ability to achieve anticipated levels of operational efficiencies and cost-saving
initiatives and to meet cash requirements based upon projected liquidity sources; (c) customer
response to new products, distribution channels and marketing initiatives; (d) mortality,
morbidity, and other factors which may affect the profitability of our insurance products; (e) our
ability to develop and maintain effective risk management policies and procedures and to maintain
adequate reserves for future policy benefits and claims; (f) changes in the federal income tax and
other federal laws, regulations, and interpretations, including federal regulatory measures that
may significantly affect the insurance business including limitations on antitrust immunity, the
applicability of securities laws to insurance products, minimum solvency requirements, and changes
to the tax advantages offered by life insurance and annuity products or programs with which they
are used; (g) increasing competition in the sale of insurance and annuities and the recruitment of
sales representatives; (h) regulatory changes, interpretations, initiatives or pronouncements,
including those relating to the regulation of insurance companies and the regulation and sale of
their products and the programs in which they are used; (i) our
|
|
|
| 1 |
|
This projection is based on adjusted net operating
income which is a non-GAAP financial measure. Due to the unpredictability of
the timing and recognition of gains and losses (especially credit impairments),
trading gains and losses, FAS 133 adjustments as well as the unpredictable
nature of certain other items that management believes are not indicative of
ongoing operational performance, GAAP net income cannot readily be estimated
because management has not regularly projected the foregoing items. Since GAAP
net income cannot be readily estimated, the company is unable to provide
guidance with respect to, or a reconciliation of guidance on operating return
on equity to, GAAP return on equity. Management of the Company believes that
calculating the Company’s operating return on equity in this manner
assists investors in evaluating the performance of the Company. |
ratings and those of our
subsidiaries by independent rating organizations which we believe are particularly important to the
sale of our products; (j) the performance of our investment portfolios; (k) the impact of changes
in standards of accounting; (l) our ability to integrate the business and operations of acquired
entities; (m) expected protection products and accumulation products margins; (n) the impact of
anticipated investment transactions; and (o) litigation or regulatory investigations or
examinations.
There can be no assurance that other factors not currently anticipated by the Company will not
materially and adversely affect results of operations. You are cautioned not to place undue
reliance on any forward-looking statements made by the Company or on its behalf. Forward-looking
statements speak only as of the date the statement was made. The Company undertakes no obligation
to update or revise any forward-looking statement.