SFG » Topics » Capital

This excerpt taken from the SFG 8-K filed Oct 20, 2009.


The Company’s available capital increased $90 million to approximately $290 million at September 30, 2009, compared to available capital at June 30, 2009. Available capital includes cash at the holding company and capital at its insurance subsidiaries in excess of the Company’s target risk-based capital ratio of 300%. Approximately $40 million of the increase is related to an improvement in the mortgage experience adjustment factor in the risk-based capital calculation. The Company reported available capital after subtracting an allocation for expected annual interest and dividends. The Company does not anticipate a need to raise capital for non-strategic reasons in the foreseeable future.

Diluted weighted-average shares outstanding for the third quarters of 2009 and 2008 were 49.3 million. The Company did not repurchase any shares during the third quarter of 2009. At September 30, 2009, the Company had approximately 0.9 million shares remaining under its repurchase program, which expires December 31, 2009. During the fourth quarter of 2009, the Company intends to resume its share repurchases on an opportunistic basis while maintaining an adequate capital position.

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