CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $) In Thousands, except Share data	3 Months Ended				6 Months Ended
	Jun. 30, 2011		Jun. 30, 2010		Jun. 30, 2011		Jun. 30, 2010
Revenues
Premiums and policy fees	$ 716,586		$ 679,241		$ 1,382,929		$ 1,308,013
Reinsurance ceded	(364,248)		(379,729)		(696,056)		(685,558)
Net of reinsurance ceded	352,338		299,512		686,873		622,455
Net investment income	448,785		422,500		892,998		834,497
Realized investment gains (losses):
Derivative financial instruments	(34,993)		(119,888)		(47,679)		(142,960)
All other investments	58,917		67,704		63,389		115,603
Other-than-temporary impairment losses	(15,632)		(36,683)		(31,653)		(58,539)
Portion of loss recognized in other comprehensive income (before taxes)	6,145		19,885		16,503		29,872
Net impairment losses recognized in earnings	(9,487)		(16,798)		(15,150)		(28,667)
Other income	87,224		59,072		159,433		102,944
Total revenues	902,784		712,102		1,739,864		1,503,872
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (three months: 2011 - $357,165; 2010 - $359,766; six months: 2011 - $670,271; 2010 - $662,467)	551,553		525,371		1,087,922		1,032,666
Amortization of deferred policy acquisition costs and value of business acquired	79,688		23,086		154,051		104,375
Other operating expenses, net of reinsurance ceded: (three months: 2011 - $48,810; 2010 - $50,657; six months: 2011 - $94,070; 2010 - $94,081)	128,270		99,185		250,523		201,095
Total benefits and expenses	759,511		647,642		1,492,496		1,338,136
Income before income tax	143,273		64,460		247,368		165,736
Income tax expense	49,909		23,216		86,538		54,786
Net income	93,364		41,244		160,830		110,950
Less: Net income (loss) attributable to noncontrolling interests	296		(127)		245		(200)
Net income available to PLC's common shareowners	$ 93,068	[1]	$ 41,371	[1]	$ 160,585	[1]	$ 111,150	[1]
Net income available to PLC's common shareowners - basic (in dollars per share)	$ 1.08		$ 0.48		$ 1.86		$ 1.28
Net income available to PLC's common shareowners - diluted (in dollars per share)	$ 1.06		$ 0.47		$ 1.83		$ 1.27
Cash dividends paid per share (in dollars per share)	$ 0.16		$ 0.14		$ 0.30		$ 0.26
Average shares outstanding - basic (in shares)	86,346,216		86,562,379		86,474,012		86,531,461
Average shares outstanding - diluted (in shares)	87,653,731		87,666,035		87,736,449		87,609,027

[1] Protective Life Corporation ("PLC")