Securing Financial Futures
The President's Message
John H. Bultema
President & Chief Executive Officer
The Lafayette Life Insurance Company delivers life insurance, annuity, retirement and small business planning solutions to individuals and businesses. Serving emerging affluent and affluent clients, we offer our protection strategies and resources through approximately 7,600 independent producers.
Solid Financial Results
In 2019, Lafayette Life’s GAAP operating income reached a record $59.1 million from life and annuity business. Its annualized sales growth in life premiums was 37.2% and new life policies were 104.3% over 2018. In keeping with the company’s tradition of paying dividends on its whole life products since its founding in 1905, it expensed record dividends of $69.1 million in 2019.1
Expanded Service Capabilities
We continue to build our culture of exceptional service by investing in customer experience and digital technology solutions. A new electronic policy delivery option, introduced in 2019, resulted in a more streamlined and efficient process for our customers and partners. Further, enhancements to our online training portal provided producers easy access to valuable industry content and training.
Enhanced Product Strategies
Lafayette Life introduced multiyear J.P. Morgan and Goldman Sachs index annuity allocation options in 2019, giving producers and their clients more flexibility with indexing strategies within select Lafayette Life annuities. These new indexes complement the S&P 500 Index, which also continues to be among the available allocation choices.
Building Confidence Through Competence
Our policyholder and producers are the reason we’ve been in business since 1905. We know that to gain and retain loyal, lifelong customers, we must continue to meet expectations and provide a seamless relationship experience. That challenge inspires and energizes us every day.