Exhibit 12

AMERUS GROUP CO.

EXHIBIT 12 — STATEMENT RE: COMPUTATION OF RATIOS
RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended June 30,
	2005		2004		2004		2003		2002			2001		2000
Earnings	($in thousands)
Pre-tax income from continuing operations	$	115,624	$	88,566	$	228,294	$	239,238	$	89,157		$	119,377	$	115,737
Less: Minority interest		—		—		—		—		—			—		21,677
Less: Income (loss) from equity investees		3,180		3,879		8,105		12,563		(3,993	)		5,072		3,481
Add: Distributed income from equity investees		180		290		564		1,521		2,591			7,730		4,449
		112,624		84,977		220,753		228,196		95,741			122,035		95,028
Fixed charges		255,800		237,389		556,985		570,646		492,093			371,667		344,363
Total Earnings	$	368,424	$	322,366	$	777,738	$	798,842	$	587,834		$	493,702	$	439,391
Fixed Charges
Interest credited to policyowners	$	238,950	$	220,245	$	523,231	$	538,622	$	464,022		$	341,575	$	312,008
Interest expense on debt		15,971		16,334		32,120		30,154		25,487			26,011		29,723
Amortization of debt issuance costs		465		464		928		1,137		985			3,155		1,833
Estimate of interest within rental expense		414		346		706		733		1,599			926		799
Total Combined Fixed Charges	$	255,800	$	237,389	$	556,985	$	570,646	$	492,093		$	371,667	$	344,363
Ratio of Earnings to Fixed Charges		1.44		1.36		1.40		1.40		1.19			1.33		1.28