Profile: Protective Life Corp (PL.N)

PL.N on New York Stock Exchange

45.05USD
1 Aug 2013
Price Change (% chg)

$1.72 (+3.97%)
Prev Close
$43.33
Open
$44.24
Day's High
$46.04
Day's Low
$44.02
Volume
221,139
Avg. Vol
110,066
52-wk High
$46.04
52-wk Low
$24.67

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Protective Life Corporation, incorporated on February 3, 1981, is a holding company. The Company, along with its subsidiaries, provides financial services through the production, distribution, and administration of insurance and investment products.

The Company's operating segments include Life Marketing, Acquisitions, Annuities, Stable Value Products, and Asset Protection. Protective Life Insurance Company (PLICO) is the Company's subsidiary.

Life Marketing

The Life Marketing segment markets universal life (UL), variable universal life, bank-owned life insurance (BOLI), and level premium term insurance (traditional) products on a national basis, primarily through networks of independent insurance agents and brokers, stockbrokers, and independent marketing organizations.

Acquisitions

The Acquisitions segment focuses on acquiring, converting, and servicing policies acquired from other companies. The segment's primary focus is on life insurance policies and annuity products that were sold to individuals. The level of the segment's acquisition activity is predicated upon many factors, including available capital, operating capacity, potential return on capital, and market dynamics.

Annuities

The Annuities segment markets fixed and variable annuity (VA) products. These products are primarily sold through broker-dealers, financial institutions, and independent agents and brokers. The Company's fixed annuities include modified guaranteed annuities which guarantee an interest rate for a fixed period. The Company's variable annuities offer the policyholder the opportunity to invest in various investment accounts and offer optional features that guarantee the death and withdrawal benefits of the underlying annuity.

Stable Value Products

The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank (FHLB), and markets guaranteed investment contracts (GICs) to 401(k) and other qualified retirement savings plans.

Asset Protection

The Asset Protection segment markets extended service contracts and credit life and disability insurance to protect consumers' investments in automobiles, watercraft, and recreational vehicles (RV). In addition, the segment markets a guaranteed asset protection (GAP) product. GAP coverage covers the difference between the loan pay-off amount and an asset's actual cash value in the case of a total loss. The segment's products are primarily marketed through a national network of approximately 8,000 automobile, marine and RV dealers.

Mortgage Loans

The Company invests a portion of its investment portfolio in commercial mortgage loans. The Company has specialized in making loans on either credit-oriented commercial properties or credit-anchored strip shopping centers and apartments. The Company concentrates on a small number of commercial real estate asset types associated primarily with the necessities of life , which includes retail, multi-family, professional office buildings, and warehouses.

Company Address

Protective Life Corp

2801 Highway, 280 South
BIRMINGHAM   AL   35223
P: +1205.2681000
F: +1205.8683541

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