Second, we’re not satisfied with sales levels in individual item. And the near-term outlook remains challenging, you recall that we told you last quarter that we’re lowering commissions on our single premium life product, as a result of interest rates that change went into effect on July 1, and we expect that to be our sales drop off dramatically for the remainder of the year.

For now, I’ll take a personal charge of the Life business, I have a lot of experience here and we’ll be working with a very capable team to carefully evaluate ways to historic growth. We still need a more complete product offering and we obviously need to drive sales through our distribution relationships.

With regard to our grow and diversify campaign, we’ve done a lot of optimal work across the company to expand our products and capabilities. The retirement division launched our True Variable Annuity products in June and the Benefits division implemented the state-of-the-art Life & DI claims in asset management system. The Life team introduced a Lapse Protection Benefit rider for Classic UL and a new variable COLI product. Now our focus is on driving increased revenues as a result of these initiatives. It’s critical that we were quickly to drive sales of our new products, while we also keep our core business going strong. We build good products and service capabilities, but now it’s time to execute on the sales side.

Turning to slide four, we have our consolidated financial results for the second quarter. Net income was $44 million down from $58 million in second quarter 2011 reflecting lower net realized investment gains. Adjusted operating income was $47 million compared with $49 million in second quarter of 2011. Return on equity was 6.6% for the 12 months ended June 30, down from 9.1% for the same period last year, mostly due to growth in total stockholders’ equity, which includes higher unrealized gains in the investment portfolio.

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