SEGMENT INFORMATION

6 Months Ended

Jun. 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 the CARS Trust as a component of the Wealth Management segment.

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):

	Six-month period ended June 30, 2011
	Wealth		Individual		Group
	Management		Protection		Protection		Corporate		Totals
Total revenues	$	714,899	$	36,976	$	62,876	$	12,703	$	827,454
Total benefits and expenses		589,961		44,696		58,425		6,824		699,906
Income (loss) before income tax expense (benefit)		124,938		(7,720)		4,451		5,879		127,548
Net income (loss)	$	90,677	$	(4,901)	$	2,909	$	3,114	$	91,799
	Six-month period ended June 30, 2010
	Wealth		Individual		Group
	Management		Protection		Protection		Corporate		Totals
Total revenues	$	545,477	$	27,671	$	64,576	$	(33,518)	$	604,206
Total benefits and expenses		126,187		26,308		61,992		11,914		226,401
Income (loss) before income tax expense (benefit)		419,290		1,363		2,584		(45,432)		377,805
Net income (loss)	$	282,658	$	971	$	1,682	$	(28,860)	$	256,451

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

		Three-month period ended June 30, 2011
		Wealth		Individual		Group
		Management		Protection		Protection		Corporate		Totals
Total revenues	$	255,011	$	17,470	$	31,569	$	17,326	$	321,376
Total benefits and expenses		165,433		22,803		28,007		2,129		218,372
Income (loss) before income tax expense (benefit)		89,578		(5,333)		3,562		15,197		103,004
Net income (loss)	$	62,714	$	(3,412)	$	2,326	$	9,786	$	71,414
		Three-month period ended June 30, 2010
		Wealth		Individual		Group
		Management		Protection		Protection		Corporate		Totals
Total revenues	$	3,352	$	12,445	$	32,315	$	(1,382)	$	46,730
Total benefits and expenses		(211,278)		12,093		30,844		1,040		(167,301)
Income (loss) before income tax expense (benefit)		214,630		352		1,471		(2,422)		214,031
Net income (loss)	$	144,523	$	260	$	959	$	(942)	$	144,800