1051717--3/14/2006--AMERUS_GROUP

related topics

{loss, insurance, financial}

{regulation, government, change}

{tax, income, asset}

{capital, credit, financial}

{regulation, change, law}

{financial, litigation, operation}

{operation, international, foreign}

{operation, natural, condition}

{control, financial, internal}

{product, market, service}

{acquisition, growth, future}

We face competition from other insurance companies, banks and non-insurance financial service companies for customers and sales agents. If we are unable to attract and retain sales representatives and develop new distribution channels, sales of our products and services may be reduced. Future downgrades in the ratings of our life insurance subsidiaries or in our credit ratings could adversely affect sales of our life insurance and annuity products and our financial condition and results of operations. Litigation and regulatory investigations may harm our financial strength and reduce our profitability. Our sales and profitability could be adversely affected by regulatory changes applicable to our indexed products. We may be exposed to unidentifiable or unanticipated liabilities if we cannot effectively manage our operational, legal, regulatory and other risks, which could negatively affect the amounts that our subsidiaries may distribute to us as dividends. Our insurance subsidiaries are heavily regulated, and changes in insurance, securities and other regulation in the United States may reduce our profitability. Our reserves established for future policy benefits and claims may prove inadequate, requiring us to increase liabilities. If reinsurance becomes unavailable or more costly, our profitability could suffer. Payment of dividends by our life insurance subsidiaries to us is regulated by state insurance laws. We may experience volatility in net income due to accounting for derivatives. Changes in tax laws or their interpretation could make some of our products less attractive to consumers. We may need to fund deficiencies in our closed blocks; assets allocated to the closed blocks benefit only the holders of closed block policies. The continued threat of terrorism and military actions may adversely affect our investment portfolio. The occurrence of events unanticipated in our disaster recovery systems and management continuity planning could impair our ability to conduct business effectively. We may experience volatility in net income due to recent changes in accounting for share-based payments. We are exposed to potential risks from legislation requiring companies to evaluate their internal controls over financial reporting. Future acquisitions that we make may result in certain risks for our business and operations.

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1051717--3/14/2006--AMERUS_GROUP_CO/IA