SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Schedule Of Segment Reporting Information By Segment [Text Block]

3. SEGMENT INFORMATION

As described below, the Company conducts business primarily in three operating segments and maintains a Corporate segment to provide for the capital needs of the three operating segments and to engage in other financing related activities. Each segment is defined consistently with the way results are evaluated by the chief operating decision-maker.

Net investment income is allocated based on segmented assets, including allocated capital, by line of business. Allocations of operating expenses among segments are made using both standard rates and actual expenses incurred. Management evaluates the results of the operating segments on an after-tax basis. The Company does not depend on one or a few customers, brokers or agents for a significant portion of its operations.

Wealth Management

The Wealth Management segment markets, sells and administers funding agreements, individual and group variable annuity products, individual and group fixed annuity products and other retirement benefit products. These contracts may contain any of a number of features including variable or fixed interest rates and equity index options and may be denominated in foreign currencies. The Company uses derivative instruments to manage the risks inherent in the contract options. Additionally, the Company consolidates certain VIE as a component of the Wealth Management segment. Refer to Note 5 for details about the VIE that is consolidated in the Company's condensed consolidated financial statements.

Individual Protection

The Individual Protection segment markets, sells and administers a variety of life insurance products sold to individuals and corporate owners of life insurance. The products include whole life, universal life and variable life insurance products.

Group Protection

The Group Protection segment markets, sells and administers group life, group long-term disability, group short-term disability, group dental and group stop loss insurance products to small and mid-size employers in the State of New York through the Company's subsidiary, SLNY.

Corporate

The Corporate segment includes the unallocated capital of the Company, its debt financing, and items not otherwise attributable to the other segments.

3. SEGMENT INFORMATION (CONTINUED)

The following amounts pertain to the Company's four segments (in 000's):

	Nine-month period ended September 30, 2011
	Wealth		Individual		Group
	Management		Protection		Protection		Corporate		Totals
Total revenues	$	360,088	$	64,688	$	94,565	$	9,571	$	528,912
Total benefits and expenses		(231,665)		73,969		82,818		6,298		(68,580)
Income (loss) before income tax expense (benefit)		591,753		(9,281)		11,747		3,273		597,492
Net income (loss)	$	398,839	$	(5,863)	$	7,656	$	2,040	$	402,672
	Nine-month period ended September 30, 2010
	Wealth		Individual		Group
	Management		Protection		Protection		Corporate		Totals
Total revenues	$	1,080,834	$	43,035	$	96,555	$	(31,616)	$	1,188,808
Total benefits and expenses		760,992		38,563		90,982		15,127		905,664
Income (loss) before income tax expense (benefit)		319,842		4,472		5,573		(46,743)		283,144
Net income (loss)	$	221,310	$	3,026	$	3,632	$	(35,912)	$	192,056

The following amounts pertain to the various business segments (in 000's):

		Three-month period ended September 30, 2011
		Wealth		Individual		Group
		Management		Protection		Protection		Corporate		Totals
Total revenues	$	(354,811)	$	27,712	$	31,689	$	(3,132)	$	(298,542)
Total benefits and expenses		(821,626)		29,273		24,393		(526)		(768,486)
Income (loss) before income tax expense (benefit)		466,815		(1,561)		7,296		(2,606)		469,944
Net income (loss)	$	308,162	$	(962)	$	4,747	$	(1,074)	$	310,873
		Three-month period ended September 30, 2010
		Wealth		Individual		Group
		Management		Protection		Protection		Corporate		Totals
Total revenues	$	535,357	$	15,364	$	31,979	$	1,902	$	584,602
Total benefits and expenses		634,805		12,255		28,990		3,213		679,263
(Loss) income before income tax (benefit) expense		(99,448)		3,109		2,989		(1,311)		(94,661)
Net (loss) income	$	(61,348)	$	2,055	$	1,950	$	(7,052)	$	(64,395)