Exhibit 99.1

AMERUS GROUP CO.
CONSOLIDATED STATEMENTS OF INCOME
($ in thousands, except share data)

		For The Three Months Ended March 31,
		2003			2002
Revenues:
	Insurance premiums	$	81,605		$	90,458
	Universal life and annuity product charges		44,107			37,128
	Net investment income		253,217			239,770
	Realized gains (losses) on investments		15,148			(5,254	)
	Unrealized (losses) on investments		(7,293	)		(19,458	)
	Other income		17,168			12,468
			403,952			355,112
Benefits and expenses:
	Policyowner benefits		218,055			206,163
	Underwriting, acquisition and other expenses		37,719			36,251
	Demutualization costs		—			285
	Restructuring costs		3,193			1,795
	Amortization of deferred policy acquisition costs and value of business acquired		50,397			39,842
	Dividends to policyowners		34,574			28,403
			343,938			312,739
Income before interest and income tax expense			60,014			42,373
Interest expense			6,799			6,027
Income before income tax expense			53,215			36,346
Income tax expense			17,426			11,432
Net income		$	35,789		$	24,914
Net income per common share:
	Basic	$	0.92		$	0.60
	Diluted	$	0.91		$	0.59
Weighted average common shares outstanding:
	Basic		38,984,807			41,349,785
	Diluted		39,217,951			41,968,570

AMERUS GROUP CO.
CONSOLIDATED BALANCE SHEETS
($ in thousands)

					March 31,		December 31,
					2003		2002
				Assets
Investments:
	Securities available-for-sale at fair value:
		Fixed maturity securities			$	13,432,473	$	13,328,902
		Equity securities				64,042		63,345
		Short-term investments				20,741		32,318
	Securities held for trading purposes:
		Fixed maturity securities				1,760,274		1,843,868
	Mortgage loans					888,323		883,034
	Real estate					475		476
	Policy loans					493,086		496,753
	Other investments					430,359		283,794
			Total investments			17,089,773		16,932,490
Cash and cash equivalents						921,054		102,612
Accrued investment income						187,672		185,660
Premiums, fees and other receivables						43,252		13,082
Reinsurance receivables						1,004,194		865,930
Deferred policy acquisition costs						871,646		884,239
Value of business acquired						450,210		454,159
Goodwill						225,075		218,995
Property and equipment						73,908		74,188
Other assets						308,371		326,397
Separate account assets						219,801		235,913
			Total assets		$	21,394,956	$	20,293,665

AMERUS GROUP CO.
CONSOLIDATED BALANCE SHEETS
($ in thousands)

					March 31,			December 31,
					2003			2002
			Liabilities and Stockholders’ Equity
Liabilities:
	Policy reserves and policyowner funds:
		Future life and annuity policy benefits			$	16,453,162		$	16,244,016
		Policyowner funds				1,483,713			1,335,144
						17,936,875			17,579,160
	Accrued expenses and other liabilities					942,819			283,836
	Dividends payable to policyowners					327,054			303,062
	Policy and contract claims					39,237			39,569
	Income taxes payable					58,783			61,325
	Deferred income taxes					25,928			16,499
	Notes payable					533,593			511,353
	Separate account liabilities					219,801			235,913
				Total liabilities		20,084,090			19,030,717
Stockholders’ equity:
	Preferred Stock, no par value, 20,000,000 shares authorized, none issued					—			—
	Common Stock, no par value, 230,000,000 shares authorized; 43,695,889 shares issued and 39,051,187 shares outstanding in 2003; 43,656,280 shares issued and 39,011,578 shares outstanding in 2002					43,696			43,656
	Additional paid-in capital					1,180,736			1,179,646
	Accumulated other comprehensive income					99,886			88,522
	Unearned compensation					(860	)		(458	)
	Unallocated ESOP shares					(1,406	)		(1,443	)
	Retained earnings					145,306			109,517
	Treasury stock, at cost (4,644,702 shares in 2003 and 2002)					(156,492	)		(156,492	)
				Total stockholders’ equity		1,310,866			1,262,948
				Total liabilities and stockholders’ equity	$	21,394,956		$	20,293,665

AMERUS GROUP CO.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
For the Three Months Ended March 31, 2003 and the Year Ended December 31, 2002
($ in thousands)

							Accumulated
				Additional			Other
				Paid-In			Comprehensive			Unearned
		Common Stock		Capital			Income (Loss)			Compensation
Balance at December 31, 2001		$	43,506	$	1,177,688		$	12,669		$	(727	)
2002:
	Net income		—		—			—			—
	Net unrealized gain on securities		—		—			73,646			—
	Net unrealized gain on derivatives designated as cash flow hedges		—		—			3,434			—
	Stock issued under various incentive plans, net of forfeitures		150		5,730			—			269
	Stock issued under exercise of warrants		—		(3,802	)		—			—
	Purchase of treasury stock and ESOP shares		—		—			—			—
	Dividends declared on common stock		—		—			—			—
	Allocation of shares in leveraged ESOP		—		30			—			—
	Minimum pension liability adjustment		—		—			(1,227	)		—
Balance at December 31, 2002			43,656		1,179,646			88,522			(458	)
2003:
	Net income		—		—			—			—
	Net unrealized gain (loss) on securities		—		—			10,443			—
	Net unrealized gain (loss) on derivatives designated as cash flow hedges		—		—			921			—
	Stock issued under various incentive plans, net of forfeitures		40		1,090			—			(402	)
	Allocation of shares in leveraged ESOP		—		—			—			—
Balance at December 31, 2003		$	43,696	$	1,180,736		$	99,886		$	(860	)

[Additional columns below]

[Continued from above table, first column(s) repeated]

		Unallocated									Total
		ESOP			Retained			Treasury			Stockholders'
		Shares			Earnings			Stock			Equity
Balance at December 31, 2001		$	(224	)	$	62,187		$	(56,582	)	$	1,238,517
2002:
	Net income		—			62,866			—			62,866
	Net unrealized gain on securities		—			—			—			73,646
	Net unrealized gain on derivatives designated as cash flow hedges		—			—			—			3,434
	Stock issued under various incentive plans, net of forfeitures		—			—			1			6,150
	Stock issued under exercise of warrants		—			—			12,205			8,403
	Purchase of treasury stock and ESOP shares		(2,522	)		—			(112,116	)		(114,638	)
	Dividends declared on common stock		—			(15,536	)		—			(15,536	)
	Allocation of shares in leveraged ESOP		1,303			—			—			1,333
	Minimum pension liability adjustment		—			—			—			(1,227	)
Balance at December 31, 2002			(1,443	)		109,517			(156,492	)		1,262,948
2003:
	Net income		—			35,789			—			35,789
	Net unrealized gain (loss) on securities		—			—			—			10,443
	Net unrealized gain (loss) on derivatives designated as cash flow hedges		—			—			—			921
	Stock issued under various incentive plans, net of forfeitures		—			—			—			728
	Allocation of shares in leveraged ESOP		37			—			—			37
Balance at December 31, 2003		$	(1,406	)	$	145,306		$	(156,492	)	$	1,310,866