Lafayette Life Insurance Company Revenue and Competitors

The Lafayette Life Insurance Company began as the vision of a handful of turn-of-the-20th century businessmen to provide the best possible insurance protection to people at the lowest reasonable cost. Their vision became reality on December 26, 1905, when the Articles of Incorporation established Lafayette Life as a mutual company, with headquarters in Lafayette, Indiana. From its humble beginnings in the nation's heartland, Lafayette Life has emerged as a leading provider of insurance products and services. This has been achieved by taking advantage of strategic opportunities, by answering critical challenges, and by embracing changes that have positioned the company to grow and to prosper. The company now operates in 48 states and the District of Columbia. Guided by its three founding principles”"solid and unquestioned financial strength, attention and service to policyowners, and close relationships with field associates”"Lafayette Life has remained focused, yet flexible, to not only survive, but to thrive in an ever-changing marketplace and industry. Lafayette Life has remained strong despite the impact of two world wars, the Great Depression, the stock market crash and the challenges that are presented by the changing marketplace, industry and society. Nothing has deterred Lafayette Life from meeting its primary obligation to policyowners. That bedrock of financial security and a sense of rightness allowed Lafayette Life to pay the war claims of World War I casualties, even though the company was not obligated. During the Great Depression, when banks and other mortgage holders were foreclosing on delinquent accounts, Lafayette Life did everything possible to help real estate owners”"especially farmers”"keep their land. In some cases, delinquent mortgage holders deeded their farms to Lafayette Life, which then leased it back to the owners. This allowed the farmers to keep their insurance, their farms, and their dignity. During a Century of Service, Lafayette Life's employees have contributed their time, talent, and financial resources to support civic, educational, cultural and religious activities. During 2005, more than $20,000 was raised for Hurricane Katrina relief efforts through employee donations and a matching grant from the Lafayette Life Foundation. The Foundation also made a grant of $35,000 to United Way of Greater Lafayette to support 25 local member agencies that provide valuable services to one in every three local residents. Responding to challenges and strategic opportunities, Lafayette Life has continued to grow and evolve as a leading insurance company. In 2000, Lafayette Life reorganized into a Mutual Insurance Holding Company structure. This change added structural flexibility while allowing the company to retain its mutual culture. The reorganization enhanced Lafayette Life's ability to engage in mergers and acquisitions and to access the capital markets, if necessary, to remain competitive and to grow. Approaching its 100th anniversary, Lafayette Life initiated a strategic alliance that would make the company even stronger and more competitive, as well as provide improved financial ratings and greater resources. In June 2005, Lafayette Life aligned with the Western & Southern Financial Group, a Cincinnati-based diversified family of financial services companies with assets owned and under management in excess of $38 billion. President and Chief Executive Officer Larry Grypp states: "Over the years, Lafayette Life has grown and progressed by adapting to the changes and challenges of our industry and by taking advantage of strategic opportunities. William Shakespeare wrote that ‘what's past is prologue.' As Lafayette Life begins our second century of service, we are extremely proud of our past, and look forward with excitement to opportunities on the horizon. We have remained in harmony with our founding principles and practices. Yet, we are also clearly and confidently focused on the future, well prepared to launch our second century of excellence. If the past is indeed prologue to the future, be assured that Lafayette Life is committed to fulfilling our vision to be a premier provider of financial protection and security for families in the 21st century."