The Company was able to substantially reduce its total debt in the third quarter of 2000 primarily as a result of $340 million in after tax cash proceeds from the closing of the sales of AMLIC
, Auxia and certain loans of the Company's lending subsidiary.
Best expects that AMLIC
and SPLIC will be integrated into Securian's credit insurance operations upon the close of the sale.
With the closing of the sale of AMLIC
, we have achieved one more goal in the execution of our strategic plan.
76 billion, which is before the receipt of estimated proceeds associated with the sale of AMLIC
and Auxia, and down from a previous high balance of $4.
The addition of AMLIC
establishes Fortis' leadership position in the prearranged funeral insurance market and furthers Fortis' U.
Best anticipates that Assurant will continue to capitalize USIC and AMLIC
appropriately with capital contributions by year end to offset any temporary shortfalls.
However, ALC has not produced the same dollar profits as AMLIC
and is not fully integrated with Assurant's remaining U.
is being rated mostly on a stand-alone basis with partial attribution of strength from its new parent, Service Corporation International (SCI).
remains on Rating Watch--Down, pending due diligence with SCI.
which consist of AMLIC
, its two wholly owned subsidiaries, Great Western
, formerly known as Prairie States Life Insurance Co.
markets pre-need insurance with the sponsorship of state associations of funeral directors.