ELCO is a well-known niche marketer. In years past it pioneered products such as polio and cancer indemnification plans as well as various specialized life programs. For more than twenty years it has concentrated on developing plans to provide seniors with solutions to estate and survival problems. But it also has policies for every age group. An ability to create new products quickly has always been a big plus for its agency department as well as established marketers seeking a worthy partner for a new venture.

BALANCE SHEET AS OF JUNE 30 2010

Assets

Bonds356,764,054
Preferred Stocks3,500,000
First Lien Mortgage Loans13,456,455
Real Estate953,224
Policy Loans462,889
Cash and Short-Term Investments54,476,057
All Other Assets8,764,643
Total Admitted Assets$438,377,322

Liabilities and Surplus

Policyholder Reserves413,045,723
Claims in Process565,166
Dividends Payable Next 12 Months241,580
Other Liabilities814,227
Total Policyholder Liabilities$414,666,696
Unassigned Surplus22,020,030
Interest Maintenance and Asset Valuation Reserves1,690,599
Total Surplus for Benefit of Policyholders$23,710,629
Total Liabilities and Surplus$438,377,325

OPERATIONS FOR SIX MONTHS ENDED JUNE 30 2010

Premiums Considerations and Deposits146,882,784
Investment Income13,473,461
Total Income$160,356,245
Policyholder Benefits Paid79,125,553
Expenses and Reserve Changes79,591,574
Total Outgo$158,717,127
Operating Gain before dividends and federal taxes$1,639,118


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