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Minnesota Life Reassures Stakeholders

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NU Online News Service, Sept. 12, 12:39 p.m. – Robert L. Senkler, chairman, president and chief executive of Minnesota Life Insurance Co., Saint Paul, Minn., issued the following statement following the terrorist attacks in New York and Washington.

Minnesota Life has the financial strength to meet all obligations to its customers, including any who may be affected by today’s tragic events,” Senkler says.

“We are strongly positioned to meet all of our obligations to our customers, and we will be there when they need us — to pay the claims, manage the investments and perform all the services they expect of us.”

While it is too early to assess the impact of yesterday’s terrorist events on the stock and bond markets, Advantus Capital Management, Minnesota Life’s asset management subsidiary, is closely monitoring events, the company says.

Advantus and other Minnesota Life subsidiaries and business units are following holiday processing procedures for market-related transactions on the dates the markets are closed.

All transactions from Sept. 11, 12, and any subsequent days will be processed when the market reopens, the company says.

Account balances will reflect the market values from the last business day the New York Stock Exchange was open.

Business units, subsidiaries and affiliates of Minnesota Life include: Advantus Capital Management; Securian Financial Network; Securian Retirement Services; Securian Financial Services; IA Systems, Inc.; WorthMark Financial Services.