SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 11, 1997
PROTECTIVE LIFE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-12332 95-2492236
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2801 Highway 280 South, Birmingham, Alabama 35223
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (205) 879-9230
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On February 11, 1997, Registrant issued a press release with respect to its
earnings which is included as an Exhibit to this Current Report and incorporated
by reference herein.
Item 7. Financial Statements and Exhibits
(c) Exhibits
The following exhibit is included herein.
Exhibit 99: Press Release dated February 11, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
PROTECTIVE LIFE CORPORATION
BY/s/Jerry W. DeFoor
Jerry W. DeFoor
Vice President and Controller
Dated: February 11, 1997
<PAGE>
Exhibit Index
Exhibit Number Description Page Number
99. Press Release Dated February 11, 1997
<PAGE>
Exhibit 99
February 11, 1997
For Immediate Release
PROTECTIVE ANNOUNCES RECORD 4Q96 EARNINGS
Protective Life Corporation (NYSE:PL) announced fourth quarter results today.
The Company's operating income, which excludes realized investment gains and
losses and related amortization, was a record $.78 per share in the 1996 fourth
quarter, an 11% increase over the $.70 per share last year in the fourth
quarter. Consolidated net income for the fourth quarter of 1996 was $24.6
million or $.79 per share, compared to $18.9 million or $.65 per share reported
for the 1995 fourth quarter.
The Company's 1996 operating income was a record $2.90 per share, an 8% increase
over the $2.68 per share reported for 1995. Consolidated net income in 1996 was
$89.0 million or $2.94 per share, compared to $76.7 million or $2.68 per share
last year.
At December 31, 1996, the Company's assets were $8.3 billion, an increase of
$1.1 billion in 1996. Stockholders' equity per share was $19.76 (excluding $.22
per share of unrealized investment gains resulting from marking the Company's
securities to market values).
Operating return on average equity for 1996 was 16.4%. (Average equity excludes
the effect of unrealized gains and losses on stockholders' equity.)
Protective Life Corporation provides financial services through the production,
distribution and administration of insurance and investment products throughout
the United States and Hong Kong.
