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Conseco Reports Fourth Quarter and Year-End Results
Date:3/31/2008

ss, net

of planned increases to associated policyholder charges.

-- Our benefit ratios increased in the fourth quarter of 2007 on our

specified disease and Medicare supplement business. These increases

negatively affected fourth quarter 2007 earnings by approximately

$8 million compared to the same period of the prior year.

-- Earnings in the fourth quarter of 2007 were also negatively affected by

$4.2 million of trading losses related to the termination of interest

rate swap agreements held in our trading portfolio.

-- During the fourth quarter of 2007, we recognized additional operating

costs and expenses of approximately $3.0 million related to operational

initiatives and consolidation activities.

-- Earnings in the fourth quarter of 2006 were negatively affected by

$16.1 million related to the segment's life insurance results in

connection with management's intent regarding the administration of

certain policies. This compares to a similar charge in the fourth

quarter of 2007 of $2.0 million.

In our Other Business in Run-off segment, we recognized a pre-tax operating loss of $10.0 million in the fourth quarter of 2007, compared to a loss of $45.1 million in the fourth quarter of 2006. Earnings in the fourth quarter of 2006 were negatively impacted by claim reserve strengthening resulting from adverse claim experience on claims incurred in previous quarters. In the fourth quarter of 2007, there were no comparable significant adjustments for claim experience related to previous quarters.

The Corporate Operations segment includes our investment advisory subsidiary and corporate expenses.

Net realized losses of $23.0 million (net of taxes) in the fourth quarter of 2007 consisted of losses from market value declines and from sales of mortgage-backed securities collateralized by sub-prime residential mortgage loans.
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SOURCE Conseco, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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