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The Life Division provides high-quality life insurance products to affluent and emerging upper-income
professionals, business owners and individuals. We have served the residents of Latin America for more than 15 years.
Our clients choose us from their many other options because they know:
- Our products provide superior long-term value.
- We will honor our commitments for their entire lives.
- We choose to conduct business to a high ethical, moral and legal standard.
- We treat our clients and field consultants as members of the AFA family.
- We continually seek out ways to make it easy to do business with us.
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We are proud of our service to nearly 115,000 Customers worldwide, answering the call to protect
their families and businesses with over $69 million in total life insurance claims paid. We continued to grow our
Latin American business, evidenced by a growth in new issued annualized premium. We experienced a deterioration,
however, of new issued premium in our domestic market.
Our 2008 focus of growing our Latin America penetration and providing efficient and cost-effective
services continues to prompt efforts to increase back-office efficiencies. We completed the development of our Electronic
Data System for our Latin field, which allows the field to electronically transmit forms. We also enhanced our Latin
agent Web site to allow direct credit card payments, and we improved our service model to further strengthen our infrastructure.
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Our long-term goals are to provide financial security to over 125,000 Customers worldwide, grow our
annualized premium and continue to increase our inforce net earned premium.
Growth, efficiency and expense management will remain the priorities of the Life Division. We will reach our long-term
growth goals by focusing our talent and energy in these areas:
- Concentrating our marketing efforts in select regions of Latin America.
- Increasing the productivity and number of our loyal field distributors.
- Increasing distribution through institutional brokers (private banking and financial institutions).
- Growing our presence in non-capital cities.
- Focusing the U.S. market on affinity groups and scaling back to a sustainable profitable core.
- Exploring opportunities in other international markets.
On the product front, we plan to develop two new products and roll them out during our annual Latin training
conference in late August. We will be implementing a new sales process in selected countries, beginning with Brazil,
which is expected to provide a significant competitive advantage in one of our fastest-growing Latin markets.
The prime components for another promising year in 2009 will be dedication to sales growth through distribution
expansion and improved broker productivity, expense control through technological improvements and adapting to the
changing business and regulatory market environments.
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