EX-12 2 exhibit12123112.htm STATEMENT RE COMPUTATION OF RATIOS exhibit12123112


EXHIBIT 12. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In Thousands)
 
 
 
 
 
Years ended December 31
2012
2011
2010
2009
2008
Earnings
 
 
 
 
 
Income (loss) before income taxes
46,074

(12,715
)
58,383

(28,706
)
(33,136
)
Add: fixed charges
42,612

43,868

43,889

42,494

40,994

Total earnings
88,686

31,153

102,272

13,788

7,858

Fixed charges
 
 
 
 
 
Interest on policyholders’ accounts
41,409

42,834

42,988

41,652

40,177

Portion of rent representative of interest factor
1,203

1,034

901

842

817

Total fixed charges
42,612

43,868

43,889

42,494

40,994

Ratio of earnings to fixed charges
2.08

0.71

2.33

0.32

0.19