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GOODWILL
6 Months Ended
Jun. 30, 2011
Goodwill Abstract  
Schedule Of Goodwill [Text Block]

 

 

11. GOODWILL

 

The Company's goodwill represents the intangible asset related to the transfer of goodwill to SLNY, based on the SLHIC to SLNY asset transfer, effective May 31, 2007. Goodwill is allocated to the Group Protection Segment. In accordance with FASB ASC Topic 350, “Intangibles-Goodwill and Other,” goodwill is tested for impairment on an annual basis. The Company completed the required impairment tests of goodwill and indefinite-lived intangible assets during the fourth quarter of 2010 and concluded that these assets were not impaired.

 

12. SUBSEQUENT EVENTS

 

On July 1, 2011, the Company paid $901.3 million to LLC II due to the maturity of the floating rate funding agreements that the Company issued to LLC II on May 17, 2006. The payment included $1.3 million in accrued interest.