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Torchmark Corporation (TMK) is a publicly-traded financial services holding company which operates through eight wholly-owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The group markets these insurance products using multiple distribution channels; which include direct response, exclusive agency and independent agency systems. The group's key operating subsidiaries include American Income Life Insurance Company (AILIC), Liberty National Life Insurance Company (LNL), Globe Life and Accident Insurance Company (Globe) , United American Insurance Company (UAIC), and United Investors Life Insurance Company (UILIC). The group benefits from expense advantages derived from the consolidation of administrative, financial, investment and marketing functions among the insurance subsidiaries. At year end 2000, TMK reported consolidated GAAP operating revenues of $2.5 billion, with total financial leverage of 27% and net operating income of $365 million on $12.9 billion of assets. At year end 1999, TMK reported consolidated GAAP total revenues of $2.3 billion, total financial leverage of 31% and net operating income of $328 million on $12.1 billion of assets. |