CNO Financial : First Quarter 2024 Bankers Life and Casualty Company

STATEMENT AS OF MARCH 31, 2024 OF THE BANKERS LIFE AND CASUALTY COMPANY

ASSETS

		Current Statement Date		4
	1	2		3	December 31
				Net Admitted Assets	Prior Year Net
	Assets	Nonadmitted Assets		(Cols. 1 - 2)	Admitted Assets
1. Bonds	.......... 17,120,526,289	...................................	..........	17,120,526,289	.......... 16,990,997,386

2. Stocks:

	2.1 Preferred stocks		131,701,991	...................................	131,701,991	134,247,816
	2.2 Common stocks		758,339,357	62,988	758,276,368	717,743,192
3.	Mortgage loans on real estate:
	3.1 First liens	..................................................................................................		1,232,836,244	...................................	1,232,836,244	1,228,331,828
	3.2 Other than first liens		...................................	...................................	...................................	...................................
4.	Real estate:
	4.1 Properties occupied by the company (less $
	encumbrances)		...................................	...................................	...................................	...................................
	4.2 Properties held for the production of income (less
	$	encumbrances)	...................................	...................................	...................................	...................................
	4.3 Properties held for sale (less $
	.......................................................................................encumbrances)		...................................	...................................	...................................	...................................
5.	Cash ($	86,622,110 ), cash equivalents
	($	30,422,773	) and short-term
	investments ($	58,521,806 )	................175,566,688	...................................	................175,566,688	................205,913,884
6.	Contract loans (including $	...................................	premium notes)	................. 82,202,115	..........................6,155	................. 82,195,960	................. 80,439,427
7.	Derivatives			................349,963,757	...................................	................349,963,757	................235,114,679
8.	Other invested assets		................701,555,374	.......................... 3,707	................701,551,667	................725,287,400
9.	Receivables for securities		................. 15,639,228	...................................	................. 15,639,228	................... 4,140,632
10.	Securities lending reinvested collateral assets	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	................. 88,622,445	...................................	................. 88,622,445	................. 76,123,513
12.	Subtotals, cash and invested assets (Lines 1 to 11)	.......... 20,656,953,488	........................ 72,850	.......... 20,656,880,638	...........20,398,339,755
13.	Title plants less $ ................................... charged off (for Title insurers
	only)			...................................	...................................	...................................	...................................
14.	Investment income due and accrued	................164,394,856	...................................	................164,394,856	................164,800,479
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	................... 3,786,330	.......................163,453	................... 3,622,877	................... 3,742,029
	15.2 Deferred premiums, agents' balances and installments booked but
	...................................deferred and not yet due (including $
	earned but unbilled premiums)	70,942,722	...................................	70,942,722	69,796,445
	15.3 Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	................................... ................................... ................................... ...................................

16. Reinsurance:

	16.1	Amounts recoverable from reinsurers	...................... 641,167	...................................	...................... 641,167	...................1,089,966
	16.2	Funds held by or deposited with reinsured companies	...................................	...................................	...................................	...................................
	16.3	Other amounts receivable under reinsurance contracts	................. 83,550,182	...................................	................. 83,550,182	................. 50,080,926
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	....Current federal and foreign income tax recoverable and interest thereon	...................................	...................................	...................................	................... 2,043,455
18.2	...................................................................................Net deferred tax asset	................277,216,723	................157,821,836	................119,394,887	............... 114,016,966
19.	Guaranty funds receivable or on deposit	................... 5,624,277	...................................	5,624,277	5,754,551
20.	Electronic data processing equipment and software	488,637	...................................	488,637	629,327

21. Furniture and equipment, including health care delivery assets

	($	)	................... 4,152,478	................... 4,152,478	...................................	...................................
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	.....................................Receivables from parent, subsidiaries and affiliates	................... 4,993,528	...................................	................... 4,993,528	................. 21,375,137
24.	Health care ($	) and other amounts receivable	................. 39,871,413	................. 36,967,051	................... 2,904,362	...................1,889,055
25.	........................................Aggregate write-ins for other than invested assets	................309,045,816	...................................	................309,045,816	................306,757,255
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	.......... 21,621,661,616	................199,177,668	.......... 21,422,483,949	.......... 21,140,315,345
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	...................................	...................................	...................................	...................................
28.	Total (Lines 26 and 27)		21,621,661,616	199,177,668	21,422,483,949	21,140,315,345
	DETAILS OF WRITE-INS
1101.	Assets held in rabbi trust for agents' deferred compensation program
................. 88,622,445	...................................	................. 88,622,445	................. 76,123,513
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	...................Summary of remaining write-ins for Line 11 from overflow page	...................................	...................................	...................................	...................................
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)	88,622,445		88,622,445	76,123,513
2501.	Cash surrender value of company owned life insurance	................305,196,655	...................................	................305,196,655	................303,031,568
2502.	Transferable state tax credits	.................................................................	................... 3,849,161	...................................	................... 3,849,161	................... 3,725,687
2503.	.......................................................................................................................	....................................	....................................	....................................	....................................
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	...................................	...................................	...................................	...................................
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	309,045,816		309,045,816	306,757,255

2

STATEMENT AS OF MARCH 31, 2024 OF THE BANKERS LIFE AND CASUALTY COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

						1	2
						Current	December 31
						Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	.......... 13,540,828,745	less $	included in Line 6.3
	(including $	6,728,461,616	Modco Reserve)		13,540,828,745	13,351,739,263
2.	Aggregate reserve for accident and health contracts (including $	Modco Reserve)	2,384,965,205	2,352,811,438
3.	Liability for deposit-type contracts (including $	Modco Reserve)	3,162,176,866	3,167,951,487
4.	Contract claims:
	4.1 Life				30,667,906	27,983,743
	4.2 Accident and health			155,448,496	153,544,558
5.	Policyholders' dividends/refunds to members $	and coupons $	due
	and unpaid				...................................	...................................

6. Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated amounts:

	6.1	Policyholders' dividends and refunds to members apportioned for payment (including $
		Modco)	.......................113,171	...................... 115,320
	6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	Modco)	...................................
	6.3	Coupons and similar benefits (including $	Modco)	...................................
7.	Amount provisionally held for deferred dividend policies not included in Line 6	...................................
8.	Premiums and annuity considerations for life and accident and health contracts received in advance less
	$	................................... discount; including $	18,425,690 accident and health premiums	................. 20,928,432	................. 22,004,399

9. Contract liabilities not included elsewhere:

	9.1	Surrender values on canceled contracts					...................................	...................................
	9.2	Provision for experience rating refunds, including the liability of $	accident and health
		experience rating refunds of which $	is for medical loss ratio rebate per the Public Health
		Service Act						...................................	...................................
	9.3 Other amounts payable on reinsurance, including $		assumed and $	...................4,202,585
		ceded					4,202,585	4,493,016
	9.4 Interest Maintenance Reserve				210,301,384	213,658,920
10.	Commissions to agents due or accrued-life and annuity contracts $	6,807,343 , accident and health
	$	................... 1,174,289	and deposit-type contract funds $	..................................................		................... 7,981,631	................. 11,007,279
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed				...................................	...................................
12.	............................................................................................................................................General expenses due or accrued					................158,540,097	................164,283,303
13.	Transfers to Separate Accounts due or accrued (net) (including $	accrued for expense
	allowances recognized in reserves, net of reinsured allowances)				...................................	...................................
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes				...................5,991,456	...................6,881,041
15.1	Current federal and foreign income taxes, including $		on realized capital gains (losses)		................. 14,248,009	...................................
15.2	Net deferred tax liability						...................................	...................................
16.	Unearned investment income					................... 2,467,167	................... 2,483,289
17.	.......................................................................................Amounts withheld or retained by reporting entity as agent or trustee				................... 1,443,244	...................... 558,060
18.	.................Amounts held for agents' account, including $	...........................................13,839,660 agents' credit balances		................. 14,067,786	................. 29,575,860
19.	........................................................................................................................................Remittances and items not allocated					................. 48,028,801	................. 46,191,719
20.	Net adjustment in assets and liabilities due to foreign exchange rates				...................................	...................................
21.	.......................................................................................Liability for benefits for employees and agents if not included above				...................................	...................................
22.	Borrowed money $	and interest thereon $	...........................................		...................................	...................................
23.	.......................................................................................................................Dividends to stockholders declared and unpaid					...................................	...................................
24.	Miscellaneous liabilities:
	...................................................................................................................................................24.01 Asset valuation reserve					................262,203,444	................266,397,127
	...................................24.02 Reinsurance in unauthorized and certified ($	.......................................................) companies		...................................	...................................
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	...................................	) reinsurers		...................................	...................................
	24.04 Payable to parent, subsidiaries and affiliates					.......................839,593	................... 2,467,209
	...........................................................................................................................................................24.05 Drafts outstanding						...................................	...................................
	............................................................................................................24.06 Liability for amounts held under uninsured plans					...................................	...................................
	........................................................................................................................................24.07 Funds held under coinsurance					...................................	...................................
	24.08 Derivatives						...................................	...................................
	24.09 Payable for securities						................. 37,866,448	...................2,202,064
	.........................................................................................................................................24.10 Payable for securities lending					...................................	...................................
	24.11 Capital notes $	and interest thereon $	...........................................	...................................	...................................
25.	Aggregate write-ins for liabilities					365,620,129	280,745,354
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)				20,428,930,596	20,107,094,447
27.	.........................................................................................................................................From Separate Accounts Statement					...................................	...................................
28.	Total liabilities (Lines 26 and 27)					20,428,930,596	20,107,094,447
29.	Common capital stock						10,000,000	10,000,000
30.	..............................................................................................................................................................Preferred capital stock						...................................	...................................
31.	..........................................................................................................Aggregate write-ins for other than special surplus funds					...................................	...................................
32.	............................................................................................................................................................................Surplus notes						...................................	...................................
33.	.......................................................................................................................................Gross paid in and contributed surplus					................988,621,970	................988,621,970
34.	Aggregate write-ins for special surplus funds					...................................	...................................
35.	Unassigned funds (surplus)						................. (5,068,618)	................. 34,598,928
36.	Less treasury stock, at cost:
	36.1	...................................	shares common (value included in Line 29	$	)
			...................................	...................................
	36.2	...................................	shares preferred (value included in Line 30	$		)
			...................................	...................................
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $		in Separate Accounts Statement)		983,553,353	1,023,220,898
38.	Totals of Lines 29, 30 and 37					993,553,353	1,033,220,898
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)						21,422,483,949	21,140,315,345
	DETAILS OF WRITE-INS
2501.	..........................................................................Liability for index credits under modified coinsurance ceded agreement			................201,785,164	................133,695,456
2502.	Liability for agents' deferred compensation program funded through a rabbi trust		................. 89,902,826	................. 76,975,398
2503.	Unclaimed funds						................. 73,568,032	................. 69,710,392
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page				.......................364,107	.......................364,107
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)					365,620,129	280,745,354
3101	....................................	....................................

3102. ................................................................................................................................................................................................... .................................... ....................................

3103. ................................................................................................................................................................................................... .................................... ....................................

3198. Summary of remaining write-ins for Line 31 from overflow page .............................................................................................. ................................... ...................................

3199. Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)

3401. ................................................................................................................................................................................................... .................................... ....................................

3402. ................................................................................................................................................................................................... .................................... ....................................

3403. ................................................................................................................................................................................................... .................................... ....................................

3498. Summary of remaining write-ins for Line 34 from overflow page .............................................................................................. ................................... ...................................

3499. Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)

3

STATEMENT AS OF MARCH 31, 2024 OF THE BANKERS LIFE AND CASUALTY COMPANY

SUMMARY OF OPERATIONS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Premiums and annuity considerations for life and accident and health contracts	................349,303,679	................688,570,422	............ 2,413,152,091
2.	Considerations for supplementary contracts with life contingencies	...................... 156,531	...................... 381,414	...................2,591,421
3.	Net investment income	................365,762,740	................238,756,743	............ 1,032,756,448
4.	Amortization of Interest Maintenance Reserve (IMR)	.....................(358,621)	........................ (6,533)	................. (4,278,757)
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	...................................	...................................	...................................
6.	Commissions and expense allowances on reinsurance ceded	................. 61,640,519	................... 5,284,867	................. 74,442,214
7.	Reserve adjustments on reinsurance ceded	................214,242,347	...................................	............... 241,465,998
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	...................................	...................................	...................................
	8.2 Charges and fees for deposit-type contracts	............................. 110	............................. 130	............................. 587
	8.3 Aggregate write-ins for miscellaneous income	3,507,325	2,241,605	13,187,737
9.	Totals (Lines 1 to 8.3)	994,254,629	935,228,648	3,773,317,739
10.	Death benefits	66,867,801	................. 65,585,383	................246,202,741
11.	Matured endowments (excluding guaranteed annual pure endowments)	........................ 56,898	........................ 67,852	...................... 260,676
12.	Annuity benefits	................. 64,143,808	................. 84,813,269	................313,785,830
13.	Disability benefits and benefits under accident and health contracts	............... 146,980,681	............... 149,288,869	................588,276,194
14.	Coupons, guaranteed annual pure endowments and similar benefits	............................... 59	............................... 59	............................. 198
15.	Surrender benefits and withdrawals for life contracts	................172,513,920	................226,046,358	................825,900,380
16.	Group conversions	...................................	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	................. 31,513,196	................. 23,873,536	................108,780,128
18.	Payments on supplementary contracts with life contingencies	................... 1,460,563	................... 1,464,139	................... 5,986,874
19.	Increase in aggregate reserves for life and accident and health contracts	221,243,250	146,580,536	749,822,231
20.	Totals (Lines 10 to 19)	................704,780,176	................697,720,000	............ 2,839,015,252
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................. 57,126,238	................. 50,698,560	................221,747,644
22.	Commissions and expense allowances on reinsurance assumed	................... 9,232,316	................. 11,154,701	................. 41,481,150
23.	General insurance expenses and fraternal expenses	................104,472,910	................103,655,909	................389,341,241
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................. 11,050,860	...................9,982,185	................. 37,127,095
25.	Increase in loading on deferred and uncollected premiums	................... 1,470,056	................... 5,903,520	...................6,965,966
26.	Net transfers to or (from) Separate Accounts net of reinsurance	...................................	...................................	...................................
27.	Aggregate write-ins for deductions
80,725,204	13,039	55,133,812
28.	Totals (Lines 20 to 27)	968,857,761	879,127,915	3,590,812,161
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................. 25,396,869	................. 56,100,733	................182,505,578
30.	Dividends to policyholders and refunds to members	29,359	32,560	112,910
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................. 25,367,510	................. 56,068,173	................182,392,668
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	27,257,590	20,333,588	85,211,099
33.	Net gain from operations after dividends to policyholders, refunds to members and federal income
	taxes and before realized capital gains or (losses) (Line 31 minus Line 32)	................. (1,890,080)	................. 35,734,585	................. 97,181,569

34. Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital

	gains tax of $	(29,987) (excluding taxes of $	(252,362)
	transferred to the IMR)		(4,140,606)	(1,300,454)	(17,338,094)
35.	Net income (Line 33 plus Line 34)	(6,030,686)	34,434,131	79,843,475
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	1,033,220,898	1,352,762,293	1,352,762,293
37.	Net income (Line 35)		(6,030,686)	34,434,131	79,843,475
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	(3,522,860)	(7,049,155)	(667,619)	17,959,766
39.	Change in net unrealized foreign exchange capital gain (loss)	...................................	...................................	...................................
40.	Change in net deferred income tax	25,478,160	10,497,825	44,214,660
41.	............................................................................................................Change in nonadmitted assets	................(24,460,144)	................(13,032,488)	................(40,564,941)
42.	.......................................Change in liability for reinsurance in unauthorized and certified companies	...................................	...................................	...................................
43.	..........................Change in reserve on account of change in valuation basis, (increase) or decrease	...................................	...................................	...................................
44.	Change in asset valuation reserve	4,193,683	(6,002,696)	(36,751,988)
45.	Change in treasury stock		...................................	...................................	...................................
46.	.........................................Surplus (contributed to) withdrawn from Separate Accounts during period	...................................	...................................	...................................
47.	................................................................Other changes in surplus in Separate Accounts Statement	...................................	...................................	...................................
48.	Change in surplus notes		...................................	...................................	...................................
49.	Cumulative effect of changes in accounting principles	...................................	...................................	...................................
50.	Capital changes:
	50.1 Paid in		...................................	...................................	...................................
	..................................................................................50.2 Transferred from surplus (Stock Dividend)	...................................	...................................	...................................
	50.3 Transferred to surplus		...................................	...................................	...................................
51.	Surplus adjustment:
	51.1 Paid in		...................................	...................................	20,000,000
	........................................................................................51.2 Transferred to capital (Stock Dividend)	...................................	...................................	...................................
	...............................................................................................................51.3 Transferred from capital		...................................	...................................	...................................
	...............................................................................51.4 Change in surplus as a result of reinsurance	(1,799,402)	...................................	58,612,440
52.	Dividends to stockholders		................(30,000,000)	................(55,000,000)	..............(459,295,794)
53.	.............................................................................Aggregate write-ins for gains and losses in surplus			(3,559,015)
54.	Net change in capital and surplus for the year (Lines 37 through 53)	(39,667,545)	(29,770,847)	(319,541,396)
55.	Capital and surplus, as of statement date (Lines 36 + 54)		993,553,353	1,322,991,446	1,033,220,898
	DETAILS OF WRITE-INS
.....................08.301. Change in cash surrender value of company owned life insurance, net of premiums	................... 2,165,087	................... 2,220,523	................... 3,973,533
08.302. Death benefit proceeds from company owned life insurance	1,323,673	...................................	...................9,116,528
08.303. Gain from utilization of transferable state tax credits
17,369	19,692	92,301
........................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	..........................1,196	..........................1,389	.......................... 5,375
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)		3,507,325	2,241,605	13,187,737
2701.	Index credits incurred under modified coinsurance ceded agreement	80,725,204	...................................	55,119,997
2702.	................................................................Transfer of reserves under coinsurance ceded agreement	...................................	........................ 13,039	........................ 13,039
2703.	.............................................................................................Penalties from regulatory authorities	...................................	...................................	............................. 776
2798.	.........................................................Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................	...................................
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)
	80,725,204	13,039	55,133,812
5301.	Change in liability for deferred compensation obligation		...................................	(3,559,015)

5302	....................................	....................................	....................................
5303	....................................	....................................	....................................
5398.	Summary of remaining write-ins for Line 53 from overflow page	...................................	...................................	...................................
5399.	Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)			(3,559,015)

4

STATEMENT AS OF MARCH 31, 2024 OF THE BANKERS LIFE AND CASUALTY COMPANY

CASH FLOW

Cash from Operations

1

Current Year

To Date

2

Prior Year

To Date

3

Prior Year Ended

December 31

1.	Premiums collected net of reinsurance	................345,852,697	................678,537,264	............ 2,400,613,956
2.	Net investment income	............... 220,659,554	................211,037,146	................876,683,373
3.	Miscellaneous income	27,714,208	10,045,036	43,425,947
4.	Total (Lines 1 to 3)	594,226,460	899,619,445	3,320,723,276
5.	Benefit and loss related payments	................264,220,312	............... 555,892,411	............ 1,849,395,566
6.	Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	...................................	...................................	...................................
7.	...............................................Commissions, expenses paid and aggregate write-ins for deductions	................199,224,453	................184,472,034	................513,703,518
8.	Dividends paid to policyholders	........................ 31,508	........................ 34,271	...................... 120,190
9.	Federal and foreign income taxes paid (recovered) net of $	(282,349) tax on capital
	gains (losses)	10,683,777	14,182,465	74,835,469
10.	Total (Lines 5 through 9)	474,160,050	754,581,182	2,438,054,743
11.	Net cash from operations (Line 4 minus Line 10)	120,066,410	145,038,264	882,668,533

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	............... 529,896,502	................535,654,124	............ 1,587,977,023
	12.2	Stocks	................... 2,750,143	...................................	...................1,010,409
	12.3	Mortgage loans	...................5,840,966	................. 27,239,935	................. 63,106,863
	12.4	Real estate	...................................	...................................	...................................
	12.5	Other invested assets	................. 13,995,814	................... 7,424,505	................. 62,704,908
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	........................ (5,671)	..........................5,271	...................... (11,621)
	12.7	Miscellaneous proceeds	40,593,653	642	642
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	................593,071,406	................570,324,477	............ 1,714,788,224
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	................653,026,057	............... 651,526,842	............ 1,726,260,500
	13.2	Stocks	................. 35,000,000	................205,931,366	................399,009,922
	13.3	Mortgage loans	................. 14,376,801	................. 74,193,785	................307,701,339
	13.4	Real estate	...................................	...................................	...................................
	13.5	Other invested assets	................. 15,353,909	................. 11,555,844	................. 48,777,630
	13.6	Miscellaneous applications		74,904,679	71,666,041
	13.7	Total investments acquired (Lines 13.1 to 13.6)	717,756,767	1,018,112,517	2,553,415,433
14.	Net increase (or decrease) in contract loans and premium notes	1,755,519	1,199,010	5,639,700
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	(126,440,879)	(448,987,050)	(844,266,908)
		Cash from Financing and Miscellaneous Sources
16.	Cash provided (applied):
	16.1	Surplus notes, capital notes	...................................	...................................	...................................
	16.2	Capital and paid in surplus, less treasury stock	...................................	...................................	................. 20,000,000
	16.3	Borrowed funds	...................................	...................................	...................................
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	................. (5,774,620)	............... 194,511,851	................489,792,662
	..........................................................................................................16.5 Dividends to stockholders	................. 30,000,000	................. 55,000,000	................459,295,794
	....................................................................................................16.6 Other cash provided (applied)	11,801,895	696,725	(90,960,575)
17.	Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus Line 16.6)	(23,972,725)	140,208,576	(40,463,707)
	RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	.Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	................(30,347,195)	..............(163,740,210)	................. (2,062,082)
19.	Cash, cash equivalents and short-term investments:
	19.1	Beginning of year	................205,913,884	................207,975,966	................207,975,966
	19.2 End of period (Line 18 plus Line 19.1)	175,566,688	44,235,756	205,913,884

Note: Supplemental disclosures of cash flow information for non-cash transactions:

20.0001.	Exchanges and transfers of invested assets	................... 1,430,650	...................4,591,902	................... 9,742,139
20.0002.	Capitalized interest	................... 3,349,587	................... 1,323,113	...................1,581,561

5

STATEMENT AS OF MARCH 31, 2024 OF THE BANKERS LIFE AND CASUALTY COMPANY

EXHIBIT 1

DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Individual life	............... 122,851,660	................129,366,784	................499,632,927
2.	Group life	...................................	...................................	...................................
3.	Individual annuities	386,964,663	363,778,104	1,554,050,828
4.	Group annuities	...................................	...................................	...................................
5.	Accident & health	144,077,482	150,956,557	579,497,568
6.	Fraternal	...................................	...................................	...................................
7.	Other lines of business	...................................	...................................	...................................
8.	Subtotal (Lines 1 through 7)	653,893,804	644,101,444	2,633,181,323
9.	Deposit-type contracts	................223,015,594	................506,188,392	................810,093,641
10.	Total (Lines 8 and 9)	876,909,398	1,150,289,836	3,443,274,964

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