Exhibit 99.1

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

		For The Three Months Ended June 30,					For The Six Months Ended June 30,
		2003		2002			2003		2002
Revenues:
	Insurance premiums	$	79,637	$	91,853		$	161,242	$	182,333
	Universal life and annuity product charges		51,426		35,016			95,534		74,058
	Net investment income		249,646		251,897			502,863		491,667
	Realized gains (losses) on investments		16,649		(41,133	)		31,797		(46,387	)
	Unrealized gains (losses) on investments		42,320		(34,778	)		35,027		(54,236	)
	Other income		18,149		20,465			35,316		32,933
			457,827		323,320			861,779		680,368
Benefits and expenses:
	Policyowner benefits		256,114		212,283			474,169		418,446
	Underwriting, acquisition and other expenses		36,080		45,602			73,799		83,791
	Demutualization costs		—		179			—		464
	Restructuring costs		12,670		6,416			15,864		8,211
	Amortization of deferred policy acquisition costs and value of business acquired		49,578		28,324			99,974		68,164
	Dividends to policyowners		29,740		19,221			64,314		47,624
			384,182		312,025			728,120		626,700
Income before interest and income tax expense			73,645		11,295			133,659		53,668
Interest expense			7,575		6,337			14,374		12,364
Income before income tax expense			66,070		4,958			119,285		41,304
Income tax expense			22,359		696			39,784		12,128
Net income		$	43,711	$	4,262		$	79,501	$	29,176
Net income per common share:
	Basic	$	1.12	$	0.11		$	2.03	$	0.72
	Diluted	$	1.11	$	0.10		$	2.02	$	0.71
Weighted average common shares outstanding:
	Basic		39,161,780		40,155,276			39,112,346		40,749,054
	Diluted		39,404,467		40,661,337			39,354,894		41,311,695

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

				June 30,		December 31,
				2003		2002
Assets
Investments:
	Securities available-for-sale at fair value:
		Fixed maturity securities		$	13,949,747	$	13,328,902
		Equity securities			71,285		63,345
		Short-term investments			29,831		32,318
	Securities held for trading purposes:
		Fixed maturity securities			1,854,975		1,843,868
		Equity securities			1,921		—
	Mortgage loans				911,549		883,034
	Real estate				314		476
	Policy loans				492,007		496,753
	Other investments				590,245		283,794
			Total investments		17,901,874		16,932,490
Cash and cash equivalents					645,836		102,612
Accrued investment income					186,437		185,660
Premiums, fees and other receivables					43,683		13,082
Reinsurance receivables					957,530		865,930
Deferred policy acquisition costs					862,278		884,239
Value of business acquired					405,512		454,159
Goodwill					224,075		218,995
Property and equipment					49,657		74,188
Other assets					322,817		326,397
Separate account assets					242,123		235,913
			Total assets	$	21,841,822	$	20,293,665

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

					June 30,			December 31,
					2003			2002
			Liabilities and Stockholders’ Equity
Liabilities:
	Policy reserves and policyowner funds:
		Future life and annuity policy benefits			$	16,725,762		$	16,244,016
		Policyowner funds				1,524,760			1,335,144
						18,250,522			17,579,160
	Accrued expenses and other liabilities					819,138			283,836
	Dividends payable to policyowners					399,139			303,062
	Policy and contract claims					37,714			39,569
	Income taxes payable					57,826			61,325
	Deferred income taxes					66,434			16,499
	Notes payable					552,586			511,353
	Separate account liabilities					242,123			235,913
				Total liabilities		20,425,482			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; 43,728,197 shares issued and 39,083,495 shares outstanding in 2003; 43,656,280 shares issued and 39,011,578 shares outstanding in 2002					43,728			43,656
	Additional paid-in capital					1,181,049			1,179,646
	Accumulated other comprehensive income					162,364			88,522
	Unearned compensation					(1,921	)		(458	)
	Unallocated ESOP shares					(1,406	)		(1,443	)
	Retained earnings					189,018			109,517
	Treasury stock, at cost (4,644,702 shares in 2003 and 2002)					(156,492	)		(156,492	)
				Total stockholders’ equity		1,416,340			1,262,948
				Total liabilities and stockholders’ equity	$	21,841,822		$	20,293,665

AMERUS GROUP CO.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
For the Six Months Ended June 30, 2003 and the Year Ended December 31, 2002
($ in thousands)

							Accumulated
				Additional			Other						Unallocated									Total
				Paid-In			Comprehensive			Unearned			ESOP			Retained			Treasury			Stockholders’
		Common Stock		Capital			Income (Loss)			Compensation			Shares			Earnings			Stock			Equity
Balance at December 31, 2001		$	43,506	$	1,177,688		$	12,669		$	(727	)	$	(224	)	$	62,187		$	(56,582	)	$	1,238,517
2002:
	Net income		—		—			—			—			—			62,866			—			62,866
	Net unrealized gain on securities		—		—			73,646			—			—			—			—			73,646
	Net unrealized gain on derivatives designated as cash flow hedges		—		—			3,434			—			—			—			—			3,434
	Stock issued under various incentive plans, net of forfeitures		150		5,730			—			269			—			—			1			6,150
	Stock issued under exercise of warrants		—		(3,802	)		—			—			—			—			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		—		30			—			—			1,303			—			—			1,333
	Minimum pension liability adjustment		—		—			(1,227	)		—			—			—			—			(1,227	)
Balance at December 31, 2002			43,656		1,179,646			88,522			(458	)		(1,443	)		109,517			(156,492	)		1,262,948
2003:
	Net income		—		—			—			—			—			79,501			—			79,501
	Net unrealized gain (loss) on securities		—		—			72,089			—			—			—			—			72,089
	Net unrealized gain (loss) on derivatives designated as cash flow hedges		—		—			1,753			—			—			—			—			1,753
	Stock issued under various incentive plans, net of forfeitures		72		8,490			—			(1,463	)		—			—			—			7,099
	PRIDES purchase contract adjustments and allocated fees and expenses		—		(7,087	)		—			—			—			—			—			(7,087	)
	Allocation of shares in leveraged ESOP		—		—			—			—			37			—			—			37
Balance at June 30, 2003		$	43,728	$	1,181,049		$	162,364		$	(1,921	)	$	(1,406	)	$	189,018		$	(156,492	)	$	1,416,340