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Moved To Cincinnati

The President's Message

New Century — New Horizons


It became evident in 2010 that the worst of the recession was over, but there were still major concerns within the financial services industry. The sluggish economic recovery, the low interest rate environment, and uncertainty surrounding regulatory changes topped the list.

Concerns within the industry didn’t suppress The Lafayette Life Insurance Company. On the contrary, 2010 proved to be the most successful year in overall performance for the company since our founding in 1905. Plus, because of strategic decisions made, we believe we are now positioned for even better growth in the future. This is indeed a New Century, New Horizons for Lafayette Life.

Our year in 2010 was an historic one. We enjoyed our best year ever in new individual earned life premium and annuity premium. An accomplishment like this was possible because of our focus, our people and our culture. We’re focused on what we do best — dividend-paying whole life insurance, indexed annuities and retirement services. Lafayette Life is truly unique in today’s marketplace because of our focus on only three lines of business. We’re also staffed with a remarkable team of people who value relationships. From our home office associates to our field management team, we have developed strong service-oriented relationships with our producers and policyholders. Finally, we have a culture of performance. Every day, every associate is driven to perform well.

The year 2010 was also historic for another reason. Groundwork was laid for the most exciting, challenging and impactful event in Lafayette Life’s history: by mid-year 2011, Lafayette Life’s operations are moving from Lafayette, Ind., to the Cincinnati headquarters of parent company Western & Southern Financial Group. This move more fully leverages the capital, resources and systems of Western & Southern and positions Lafayette Life well for continued growth. It also provides tremendous opportunities for career growth for our associates.

The following 2010 highlights are a true testament to the New Century, New Horizons of Lafayette Life:
  •  Best Year in History. For new individual life premium, Lafayette Life earned more than $71 million — a 78 percent increase over 2009 and our best year ever. New annuity premium increased 54 percent in 2010 to reach more than $270 million — another record-breaker. New life policies sold reached 9,800 — a 72 percent increase over 2009.
  •  Historic Move. In 2005 Lafayette Life merged with Western & Southern Financial Group to ensure that we would have the financial strength to keep promises to policyholders well into the future. Embedded in the merger agreement was a plan for our company to remain in Lafayette for a minimum of three to five years. After conducting extensive due diligence on the move and timing, the decision was made to move Lafayette Life’s operations to Cincinnati during 2011.
  •  Our Legacy Remains. Lafayette Life’s community legacy will continue in Lafayette, Ind., in the form of the Lafayette Life Foundation, Inc., which was formed in 2005 to support worthy local causes. Bill Olds, a senior vice president at Lafayette Life, will head the foundation. Since 2005, the foundation has contributed over $750,000 to local charities and will continue to support children, families and arts organizations in the Lafayette area in the future.
Any business that exists for more than a century will experience change. We have never shied away from the changes necessary to answer the critical challenges our company has faced. What has endured through these changes, and what our policyholders, producers and associates can count on in 2011 and beyond, are the founding principles of Lafayette Life that continue to guide us to success.

Sincerely,

Jerry B. Stillwell, CLU, ChFC, RHU, LLIF, LUTCF
President and Chief Executive Officer
The Lafayette Life Insurance Company