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) April 23, 1999
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 April 23, 1999, 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 April 23, 1999.
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: April 23, 1999
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Exhibit Index
Exhibit Number Description
99. Press Release Dated April 23, 1999
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Exhibit 99
PROTECTIVE ANNOUNCES RECORD 1Q99 EARNINGS
BIRMINGHAM, Alabama (April 23, 1999) Protective Life Corporation (NYSE:PL)
announced record first quarter results today. The Company's diluted operating
income, which excludes realized investment gains and losses and related
amortization, was $.55 per share in the 1999 first quarter, a 17% increase over
the $.47 per share last year. Consolidated net income for the first quarter of
1999 was $36.6 million, compared to $30.0 million reported for the 1998 first
quarter. Diluted net income per share was $.56 per share in the 1999 first
quarter compared to $.47 per share last year.
At March 31, 1999, the Company's assets were $12.2 billion. Share-owners' equity
per share was $14.26 (excluding $.03 per share of unrealized investment gains
resulting from marking the Company's securities to market values).
Operating return on average equity for the twelve months ending March 31, 1999
was 16.6%. (Average equity excludes the effect of unrealized gains and losses on
share-owners' equity.)
This release includes "forward-looking statements" which express expectations of
future events and/or results. All statements based on future expectations rather
than on historical facts are forward-looking statements that involve a number of
risks and uncertainties, and the Company cannot give assurance that such
statements will prove to be correct. Please refer to Exhibit 99 of the Company's
most recent Form 10-K for more information about factors which could affect
future results.
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