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Meeting Overview

Meeting Overview. Who is Fidelity & Guaranty Life Who is Old Mutual Insurance Industry Trends Why Fidelity & Guaranty Life. F&G Life. Founded in 1959 Premier provider of Life and Annuity products Offers diverse product portfolio in 49 States and DC One of the first members of IMSA.

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Meeting Overview

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  1. Meeting Overview • Who is Fidelity & Guaranty Life • Who is Old Mutual • Insurance Industry Trends • Why Fidelity & Guaranty Life

  2. F&G Life • Founded in 1959 • Premier provider of Life and Annuity products • Offers diverse product portfolio in 49 States and DC • One of the first members of IMSA

  3. F&G Life (cont.) • Strong financial strength ratings • A.M. Best A • Standard & Poor’s A • Fitch A • Moody’s A2

  4. F&G Life (cont.) • Proven track record in producing positive sales and earnings growth • Between 1993 and 2000, sales increased 448% and have grown to more than $1 Billion a year • Surpassed $2 Billion in new premium in June 2002

  5. F&G Life (cont.) • Based on LIMRA results • 4th largest brokerage term writer in annualized premium (1st Quarter 2002) • 8th largest brokerage life writer in annualized premium (1st Quarter 2002) • Top 5 fixed annuity writer (2002)

  6. Old Mutual • In September 2001, joined forces with Old Mutual family of companies • Founded 156 years ago • London based insurance & asset management company • Fortune Global 500 Company • Manages $234 Billion in funds (June 2001)

  7. Old Mutual (cont.) • Has 3.8 Million policyholders • Has 2.4 Million banking customers • Dedicated to the U.S. life insurance market

  8. What has Old Mutual brought to F&G Life? • Capital to grow our business • By the end of 2002, Old Mutual will have invested over $1 Billion in F&G Life • $816 Million through March 2002 which includes the initial purchase of $635 Million in September 2001 • An additional $200 Million by December 2002 • F&G Life has Old Mutual’s support to continue to grow and support the new business we provide in today’s economic environment and the future

  9. What has Old Mutual brought to F&G Life? • World class expertise in Administrative Services • Old Mutual provides the purchasing and negotiating power - and the weight - to competently move from a single supplier of administrative services to an actively managed portfolio of suppliers • F&G Life gains additional competency from suppliers with specialized skills • Skills are now available to make changes without jeopardizing existing business and relationships • A Win-Win situation is realized through lowering operating expenses and gaining quality of services provided

  10. What has F&G Life brought to Old Mutual? • F&G Life has proven to be an excellent entry into the U.S. life insurance market by providing: • An established distribution channel and partners • An experienced management team • Knowledge in innovative product design • An established and well run organization • Outstanding sales growth • A great platform for future growth • A Great Success Story!!!

  11. What won’t Old Mutual bring to F&G Life? • Failure to support our distribution channels and partners • Rejection of the ideas and needs of agents • Neglect to our distribution partners in terms of service and product design • Second class solutions to problems and opportunities

  12. Insurance Industry Trends • New Insurance Sales • Overall trends downward in life insurance sales • Despite industry trends, traditional life products are showing excellent growth • Key issues impacting new sales • performance of equity market • events of September 11th • new institutional sales • estate tax reform uncertainty

  13. U.S. Business Environment • Interest rates at historic low levels and holding • Volatility of stock market • declines started in March 2000 • overall worst market performance in 23 years • Investor confidence rattled • ENRON • WorldCom

  14. U.S. Business Environment (cont.) • Favorable demographic trends • The aging of America • in 1970, 9% of Americans were over 65 • in 2002, the figure is 12.5% • in 2030, it will be 19% • The youngest of Baby-Boomers are now eyeing 40 • We are in the midst of the greatest transfer of wealth in history

  15. U.S. Business Environment (cont.) • We are in the most positive sales environment we have ever seen • Our products have what consumers want and need today

  16. U.S. Business Environment (cont.) • Our products have: • Safety • Tax Advantages • Competitive Yields/Rates • Liquidity • Estate Planning Advantages • Protection for Families

  17. Why Fidelity & Guaranty Life • We have 5 core values that form the foundation to provide the best life and annuity products in the marketplace • Integrity - customer satisfaction is our #1 priority and is the cornerstone for all of our business activities • Professionalism - we strive to exceed the expectations of our policyholders and distribution • Innovation - by listening to and understanding what the market needs, we constantly look for unmet needs and continue to develop innovative products to meet those needs

  18. Why Fidelity & Guaranty Life (cont.) • Service - we recognize that service is the name of the game and are striving to ensure that are distribution is given the level of service they need and deserve • Teamwork - we place a strong emphasis on teamwork and customer feedback by encouraging open communication from our key stakeholders which enables us to achieve higher levels of innovation, success and dedication

  19. Why Fidelity & Guaranty Life (cont.) • With Fidelity & Guaranty Life, you have a solid partner for your financial future • With Fidelity & Guaranty Life, you have a company built upon the promise that • Life Keeps Getting Better!!!

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