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MINNESOTA MUTUAL REPORTS RECORD EARNINGS AND POLICYOWNER DIVIDENDS; LIFE INSURANCE IN FORCE SURPASSES $100 BILLION

MINNESOTA MUTUAL REPORTS RECORD EARNINGS AND POLICYOWNER DIVIDENDS;
 LIFE INSURANCE IN FORCE SURPASSES $100 BILLION
 ST. PAUL, Minn., Feb. 19 /PRNewswire/ -- Minnesota Mutual today announced record 1991 earnings and policyowner dividends. The life insurance protection provided by the 111-year old mutual company also exceeded the $100 billion milestone.
 Total revenue increased 8.2 percent to a record $1.7 billion, including $1.3 billion from insurance premiums and $459 million from net investment income.
 Earnings before dividends increased 39 percent to a record $134.6 million, and policyowner dividends were a record $103 million. Net earnings were $31.6 million, also a record.
 "We attribute these all-time records to our strong investment results, our continuing focus on expense controls and the excellent persistency of our business," said Coleman Bloomfield, chairman and chief executive officer.
 The company's strong performance increased its capital 28 percent to a record high of $341 million. As a result, its ratio of capital to liabilities increased from 5.5 percent to 6.4 percent.
 "Our strong capital position provides absolute assurance to our clients that all guarantees and commitments to them will be honored," said Bloomfield. "Minnesota Mutual continues to be distinguished by its impeccable financial strength."
 Life insurance in force, which is the primary financial protection provided by the company, grew to more than $103 billion in 1991 positioning Minnesota Mutual as the 10th largest mutual company in the United States.
 Assets under management by the company and its subsidiaries grew 15 percent to $7.1 billion.
 "The ongoing, steady growth of the protection we provide and the assets we safeguard reflects the widespread acceptance of our products and services," said Bloomfield. "It reflects the trust of more than nine million people who rely on us for financial protection."
 The company's net rate of return on investments was 9.25 percent, a result that continues to exceed the industry average and reflects the high quality of Minnesota Mutual's assets.
 "Our investment portfolio is comprised primarily of very high quality bonds and mortgages," said Bloomfield. "We have avoided investment in high-risk, low-grade bonds, and we've avoided the problems associated with commercial mortgages. Our clients continue to benefit from the soundness of our proven investment strategy."
 Minnesota Mutual continues to receive high ratings for financial strength and claims-paying ability from the major independent analysts: A+ Superior from A.M. Best, AA+ from Standard and Poor's and Aa1 from Moody's Investors Services.
 "Ratings this high are held by fewer than one percent of insurers in the nation," Bloomfield said.
 MINNESOTA MUTUAL LIFE INSURANCE COMPANY
 FINANCIAL HIGHLIGHTS
 1991 1990
 Revenue $1,732,041,368 $1,601,914,657
 Earnings before dividends 134,647,955 96,908,819
 Policyowner dividends 103,054,539 91,100,640
 Net earnings 31,593,416 5,808,179
 -0- 2/19/92
 /CONTACT: Marian McLain-Johnson of Minnesota Mutual, 612-298-3674 or 612-941-3789/ CO: Minnesota Mutual ST: Minnesota IN: INS SU: ERN


AL -- MN015 -- 0662 02/19/92 17:15 EST
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Date:Feb 19, 1992
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