Contents
Summary 2
Ratings Actions 5
Capital & Liquidity 7
Mergers & Acquisitions 8
Section 2. Summary of Recent Research 9
Section 3. Price Performance 11
Section 4. Valuation 15
Section 5. Earnings Analysis 27
Section 6. Insider Transactions 40
Section 7. Life Insurance Statistics 44
Section 8. Annuity Industry Statistics 54
Section 9. Disability Industry Statistics 60
Section 10. Credit Markets 62
Appendix 64