Protective's CEO Presents At BAML 2012 Insurance Conference (Transcript)

Protective Life Corporation ( PL)

Bank of America Merrill Lynch 2012 Insurance Conference

February 16, 2012 - 12:35 a.m. ET

Executives

John D. Johns – Chairman, President and Chief Executive Officer

Carolyn M. Johnson – Executive Vice President and Chief Operating Officer

D. Scott Adams – Senior Vice President and Chief Human Resources Officer

Carl S. Thigpen – Executive Vice President and Chief Investment Officer

Analysts

Edward Spehar – Bank of America Merrill Lynch

Presentation

Edward Spehar – Bank of America Merrill Lynch

We have Johnny Johns, CEO of Protective Life. And Johnny was nice enough to remind me that I downgraded the stock a week or so ago. I guess right before they had their second-highest operating earnings quarter I think in the history of the company, and the highest on an adjusted basis. So, thank you. I'm going to pass it over to Johnny.

John D. Johns

Ed, thank you for what enthusiastic introduction. I appreciate it. No, actually not only what Ed just said is true, but it was also my birthday that he downgraded the stock, just to add insult to injury in. Another analyst, who had a different writing on the stock, described it was the McMuffin of quarterly earnings reports in our industry. And I had to go Google that to see that ties back to a McDonald's commercial where anything that's a McMuffin is really good. So we got kind of chucked by that.

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