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Bryan C. Dunn, CLU, ChFC
President and Chief Executive Officer
The Lafayette Life Insurance Company fortified its strong position in the industry in 2015 with excellent financial performance and a culture that emphasizes service and responsiveness.
In 2015, Lafayette Life’s total life premium topped $394 million while total annuity premium reached $149 million. Strong sales and good persistency helped grow Lafayette Life’s GAAP assets by nearly 8 percent, reaching a new high of $4.8 billion. Pre-tax operating income increased 17 percent over the prior year, also a new high.
The company’s Retirement Services Department has more than 30 years of experience customizing plans to help meet employee needs for retirement income while maximizing tax advantages for both employers and employees.1 Supported by this expertise, retirement plan sales grew 16 percent while Lafayette Life produced a 39 percent increase in life premium from qualified plans, further enhancing the company’s financial strength.
In 2015, Lafayette Life introduced an enhanced, dividend-paying whole life portfolio to enable consumers to choose policies for specific needs and to help strengthen their financial well-being.
The company also introduced a new single premium fixed indexed annuity, Marquis® SP, as a retirement-funding product with growth potential and income guarantees. This includes an option that is linked, in part, to a proprietary multi-asset class index, which helps distinguish the product, and an optional guaranteed lifetime withdrawal income benefit rider.
These attractive features, which set this annuity apart from others, helped fuel the company’s strong fourth-quarter sales growth.
An array of new tools and practices from Lafayette Life were introduced in 2015 to further support independent producers and their clients.
Responding to growing demand, Lafayette Life gives producers the ability to customize product brochures. Images are continually added to the company’s graphics library so producers can more effectively engage clients with relevant and visually interesting material.
Lafayette Life implemented new approaches to producer communications throughout 2015 to improve effectiveness, including video, audio and electronic messaging.
Also, as part of the company’s multi-channel communication, it introduced a one-way producer blog, Learn @Lafayette, to promote Lafayette Life products, retirement services, advanced sales and illustrations.
Lafayette Life continues to build on its financial strength and culture of exceptional service to help independent producers continue to deliver value to their clients.
1 Lafayette Life does not provide tax or legal advice. Please contact a tax or legal advisor. The information provided is for educational purposes only.