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QUARTERLY STATEMENT Life Insurance Company of the Southwest

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QUARTERLY STATEMENT Life Insurance Company of the Southwest Powered By Docstoc
					LIFE AND ACCIDENT AND HEALTH COMPANIES - ASSOCIATION EDITION

                                                                                                                                    *65528201020100101*
                                                       QUARTERLY STATEMENT
                                                                                           As of March 31, 2010
                                                                                        of the Condition and Affairs of the

                      Life Insurance Company of the Southwest
  NAIC Group Code.....634, 634                                                NAIC Company Code..... 65528                                         Employer's ID Number..... 75-0953004
                                   (Current Period) (Prior Period)
  Organized under the Laws of Texas                                           State of Domicile or Port of Entry Texas                                    Country of Domicile        US
  Incorporated/Organized..... March 7, 1955                                                                         Commenced Business..... January 2, 1956
  Statutory Home Office                                          1300 West Mockingbird Lane….. Dallas ..... TX ..... 75247-4921
                                                                     (Street and Number)       (City or Town, State and Zip Code)
  Main Administrative Office                                         1300 West Mockingbird Lane….. Dallas ..... TX ..... 75247-4921                                          214-638-7100
                                                                     (Street and Number)      (City or Town, State and Zip Code)                                      (Area Code) (Telephone Number)
  Mail Address                                                       P. O. Box 569080….. Dallas ..... TX ..... 75356-9080
                                                                     (Street and Number or P. O. Box)         (City or Town, State and Zip Code)
  Primary Location of Books and Records                              1300 West Mockingbird Lane….. Dallas ..... TX ..... 75247-4921                                          214-638-7100
                                                                     (Street and Number)      (City or Town, State and Zip Code)                                      (Area Code) (Telephone Number)
  Internet Web Site Address                                          www.lifeofsouthwest.com
  Statutory Statement Contact                                        Michele Renee Hollifield                                                                                214-638-9335
                                                                     (Name)                                                                                (Area Code) (Telephone Number) (Extension)
                                                                     mhollifield@nationallife.com                                                                            214-638-9140
                                                                     (E-Mail Address)                                                                                            (Fax Number)

                                                                                                 OFFICERS
                    Name                                                       Title                                                  Name                                       Title
  1. Wade Hampton Mayo                                           President & CEO                                    2. Jacque Lynn Crawford                        Secretary
  3. Robert Earl Cotton                                          Treasurer                                          4. Craig Alan Smith                            VP & Appointed Actuary
                                                                                                    OTHER
  Geoffrey Samuel Bird                                           Vice President                                     Thomas Hyde Brownell                           Sr. VP & Chief Investment Officer
  Gregory Henry Doremus                                          Sr. Vice President                                 Maryann (nmn) Ellis                            Vice President
  Michele Susan Gatto                                            Executive Vice President                           Joyce Bloom LaRosa                             Vice President
  Eric (nmn) Lopez                                               Vice President                                     Carl Joseph Lutz                               Executive Vice President
  Elizabeth Hill MacGowan                                        Vice President                                     Donald Paul Messier                            Vice President
  Ruth Barra Smith                                               Sr. Vice President                                 Michael Curran Ward                            Vice President
  Keith William Young                                            Vice President




                                                                                 DIRECTORS OR TRUSTEES
  Mehran (nmn) Assadi                                       Thomas Hyde Brownell                                    Carl Joseph Lutz                           Wade Hampton Mayo




State of........          Texas
County of.....            Dallas

The officers of this reporting entity being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period
stated above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as
herein stated, and that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statement
of all the assets and liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions
therefrom for the period ended, and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Procedures
manual except to the extent that: (1) state law may differ; or, (2) that state rules or regulations require differences in reporting not related to accounting practices and
procedures, according to the best of their information, knowledge and belief, respectively. Furthermore, the scope of this attestation by the described officers also
includes the related corresponding electronic filing with the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of the
enclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition to the enclosed statement.


                               (Signature)                                                           (Signature)                                                   (Signature)
                          Wade Hampton Mayo                                                   Jacque Lynn Crawford                                             Robert Earl Cotton
                           1. (Printed Name)                                                    2. (Printed Name)                                              3. (Printed Name)
                            President & CEO                                                             Secretary                                                   Treasurer
                                 (Title)                                                                 (Title)                                                      (Title)


  Subscribed and sworn to before me                                                                     a. Is this an original filing?                                    Yes [ X ]     No [ ]
  This             10th             day of        May 2010                                              b. If no:       1. State the amendment number

                                                                                                                        2. Date filed

                                                                                                                        3. Number of pages attached
Statement as of March 31, 2010 of the                 Life Insurance Company of the Southwest
                                                                                                                                      ASSETS
                                                                                                                                                                                             Current Statement Date                                                                   4
                                                                                                                                                                           1                            2                                     3
                                                                                                                                                                                                                                         Net Admitted                      December 31
                                                                                                                                                                                                     Nonadmitted                           Assets                          Prior Year Net
                                                                                                                                                                      Assets                           Assets                            (Cols. 1 - 2)                    Admitted Assets
 1.      Bonds........................................................................................................................................... ..........6,474,649,986 ................................... ..........6,474,649,986 ..........6,236,951,367
 2.      Stocks:
         2.1       Preferred stocks................................................................................................................. ...............11,021,775 ................................... ...............11,021,775 ...............11,021,775
         2.2       Common stocks................................................................................................................. ................................... ................................... ...............................0 ...................................
 3.      Mortgage loans on real estate:
         3.1       First liens............................................................................................................................ .............824,810,706 ................................... .............824,810,706 .............835,480,546
         3.2       Other than first liens........................................................................................................... ................................... ................................... ...............................0 ...................................
 4.      Real estate:
         4.1       Properties occupied by the company (less $..........0
                   encumbrances).................................................................................................................. ................................... ................................... ...............................0 ...................................
         4.2       Properties held for the production of income (less $..........0
                   encumbrances).................................................................................................................. ................................... ................................... ...............................0 ...................................
         4.3       Properties held for sale (less $..........0 encumbrances)..................................................... ................................... ................................... ...............................0 ...................................
  5.     Cash ($.....12,368,560), cash equivalents ($.....161,290,613)
         and short-term investments ($.....15,925,781)............................................................................. .............189,584,953 ................................... .............189,584,953 .............131,203,046
  6.      Contract loans (including $..........0 premium notes).................................................................... .............156,627,322 ................................... .............156,627,322 .............155,669,047
  7.     Derivatives................................................................................................................................... .............571,384,183 ................................... .............571,384,183 .............683,646,229
  8.     Other invested assets.................................................................................................................. ...............21,055,800 ................................... ...............21,055,800 ...............21,089,886
  9.     Receivables for securities............................................................................................................ ...............22,467,616 ................................... ...............22,467,616 ....................320,454
 10 Aggregate write-ins for invested assets....................................................................................... ...............................0 ...............................0 ...............................0 ...............................0
 11. Subtotals, cash and invested assets (Lines 1 to 10).................................................................... ..........8,271,602,342 ...............................0 ..........8,271,602,342 ..........8,075,382,348
 12. Title plants less $..........0 charged off (for Title insurers only)..................................................... ................................... ................................... ...............................0 ...................................
 13. Investment income due and accrued........................................................................................... ...............85,916,486 ................................... ...............85,916,486 ...............79,415,152
 14. Premiums and considerations:
         14.1 Uncollected premiums and agents' balances in the course of collection........................... ....................208,533 ................................... ....................208,533 ....................261,803
         14.2 Deferred premiums, agents' balances and installments booked but deferred
              and not yet due (including $..........0 earned but unbilled premiums)................................. .................5,500,914 ................................... .................5,500,914 .................5,729,409
          14.3 Accrued retrospective premiums....................................................................................... ................................... ................................... ...............................0 ...................................
 15. Reinsurance:
         15.1 Amounts recoverable from reinsurers................................................................................ ....................449,347 ................................... ....................449,347 ....................492,111
         15.2 Funds held by or deposited with reinsured companies...................................................... ....................218,157 ................................... ....................218,157 ....................172,925
         15.3 Other amounts receivable under reinsurance contracts.................................................... ........................3,229 ................................... ........................3,229 ........................1,997
 16. Amounts receivable relating to uninsured plans.......................................................................... ................................... ................................... ...............................0 ...................................
17.1 Current federal and foreign income tax recoverable and interest thereon................................... ................................... ................................... ...............................0 ...................................
17.2 Net deferred tax asset.................................................................................................................. ...............57,787,715 ...............26,490,702 ...............31,297,013 ...............31,068,365
 18. Guaranty funds receivable or on deposit..................................................................................... ....................514,219 ................................... ....................514,219 ....................542,942
 19. Electronic data processing equipment and software................................................................... ....................945,199 ....................917,388 ......................27,811 ......................30,836
 20. Furniture and equipment, including health care delivery assets ($..........0)................................. ....................165,223 ....................165,223 ...............................0 ...................................
 21. Net adjustment in assets and liabilities due to foreign exchange rates....................................... ................................... ................................... ...............................0 ...................................
 22. Receivables from parent, subsidiaries and affiliates.................................................................... ...............17,211,545 ................................... ...............17,211,545 .................6,555,492
 23. Health care ($..........0) and other amounts receivable................................................................. ...............15,132,373 ...............15,132,373 ...............................0 ...................................
 24. Aggregate write-ins for other than invested assets...................................................................... ...............10,462,714 ....................138,213 ...............10,324,500 ...............10,178,958
 25. Total assets excluding Separate Accounts, Segregated Accounts and Protected
     Cell Accounts (Lines 11 through 24)............................................................................................ ..........8,466,117,996 ...............42,843,899 ..........8,423,274,097 ..........8,209,832,337
 26. From Separate Accounts, Segregated Accounts and Protected Cell Accounts.......................... ................................... ................................... ...............................0 ...................................
 27. Total (Lines 25 and 26)................................................................................................................ ..........8,466,117,996 ...............42,843,899 ..........8,423,274,097 ..........8,209,832,337

                                                                                                                                DETAILS OF WRITE-INS
1001 ..................................................................................................................................................... ................................... ................................... ...............................0 ...................................
1002 ..................................................................................................................................................... ................................... ................................... ...............................0 ...................................
1003. ..................................................................................................................................................... ................................... ................................... ...............................0 ...................................
1098. Summary of remaining write-ins for Line 10 from overflow page................................................. ...............................0 ...............................0 ...............................0 ...............................0
1099. Totals (Lines 1001 thru 1003 plus 1098) (Line 10 above)........................................................... ...............................0 ...............................0 ...............................0 ...............................0
2401. Corporate Owned Life Insurance................................................................................................. ...............10,168,746 ................................... ...............10,168,746 ...............10,106,279
2402. Items not allocated....................................................................................................................... ....................161,863 ........................7,716 ....................154,147 ......................71,071
2403. Prepaid Expenses........................................................................................................................ ......................94,680 ......................94,680 ...............................0 ...................................
2498. Summary of remaining write-ins for Line 24 from overflow page................................................. ......................37,425 ......................35,817 ........................1,608 ........................1,608
2499. Totals (Lines 2401 thru 2403 plus 2498) (Line 24 above)........................................................... ...............10,462,714 ....................138,213 ...............10,324,500 ...............10,178,958




                                                                                                                                                  Q02
Statement as of March 31, 2010 of the               Life Insurance Company of the Southwest
                                                                           LIABILITIES, SURPLUS AND OTHER FUNDS
                                                                                                                                                                                                                                         1                                              2
                                                                                                                                                                                                                                       Current                                    December 31
                                                                                                                                                                                                                                   Statement Date                                  Prior Year
  1.    Aggregate reserve for life contracts $.....7,382,379,039 less $..........0
        included in Line 6.3 (including $.....1,017,698 Modco Reserve)............................................................................................................                                        ...................7,382,379,039 ...................7,104,045,804
  2.    Aggregate reserve for accident and health contracts (including $.........0 Modco Reserve)..................................................................                                                       .............................735,654 .............................747,165
  3.    Liability for deposit-type contracts (including $..........0 Modco Reserve)..............................................................................................                                         ........................58,450,481 ........................55,689,509
  4.    Contract claims:
        4.1         Life.............................................................................................................................................................................................     ..........................5,980,316 ..........................7,364,702
        4.2         Accident and health...................................................................................................................................................................                ...............................24,300 ...............................24,300
  5.    Policyholders' dividends $..........0 and coupons $..........0 due and unpaid...........................................................................................                                          ........................................... ...........................................
  6.    Provision for policyholders' dividends and coupons payable in following calendar year - estimated amounts:
        6.1         Dividends apportioned for payment (including $..........0 Modco)...............................................................................................                                       ...............................24,507         ...............................24,551
        6.2         Dividends not yet apportioned (including $..........0 Modco).......................................................................................................                                   ...........................................   ...........................................
        6.3         Coupons and similar benefits (including $..........0 Modco)........................................................................................................                                   ...........................................   ...........................................
  7.    Amount provisionally held for deferred dividend policies not included in Line 6....................................................................................                                               ...........................................   ...........................................
  8.    Premiums and annuity considerations for life and accident and health contracts received in advance
        less $..........0 discount; including $.....1,406 accident and health premiums.........................................................................................                                           .............................162,445 .............................148,844
  9.    Contract liabilities not included elsewhere:
        9.1         Surrender values on canceled contracts....................................................................................................................................                            ...........................................   ...........................................
        9.2         Provision for experience rating refunds, including $..........0 accident and health experience rating refunds............................                                                             ...........................................   ...........................................
        9.3         Other amounts payable on reinsurance, including $..........0 assumed and $..........0 ceded.....................................................                                                      ...........................................   ...........................................
        9.4         Interest Maintenance Reserve...................................................................................................................................................                       ........................38,776,108            ........................29,829,908
 10.    Commissions to agents due or accrued - life and annuity contracts $.....1,779,842, accident and health $..........0
        and deposit-type contract funds $..........0.............................................................................................................................................                         ..........................1,779,842 ..........................4,265,965
 11.    Commissions and expense allowances payable on reinsurance assumed...........................................................................................                                                      ........................................... ...........................................
 12.    General expenses due or accrued........................................................................................................................................................                           ..........................4,061,041 ..........................5,345,969
 13.    Transfers to Separate Accounts due or accrued (net) (including $..........0 accrued for expense
        allowances recognized in reserves, net of reinsured allowances).........................................................................................................                                          ...........................................   ...........................................
  14.   Taxes, licenses and fees due or accrued, excluding federal income taxes...........................................................................................                                                .............................213,100          ..........................1,086,971
 15.1   Current federal and foreign income taxes, including $..........0 on realized capital gains (losses).........................................................                                                      ........................33,361,860            ........................13,736,796
 15.2   Net deferred tax liability.........................................................................................................................................................................               ...........................................   ...........................................
  16.   Unearned investment income................................................................................................................................................................                        .............................167,723          .............................160,013
  17.   Amounts withheld or retained by company as agent or trustee.............................................................................................................                                          ..........................2,394,746           ..........................1,031,722
  18.   Amounts held for agents' account, including $..........0 agents' credit balances....................................................................................                                              ..........................2,932,917           ..........................4,621,041
  19.   Remittances and items not allocated.....................................................................................................................................................                          ........................21,918,602            ........................17,710,248
  20.   Net adjustment in assets and liabilities due to foreign exchange rates.................................................................................................                                           ...........................................   ...........................................
  21.   Liability for benefits for employees and agents if not included above...................................................................................................                                          ...........................................   ...........................................
  22.   Borrowed money $..........0 and interest thereon $..........0....................................................................................................................                                 ...........................................   ...........................................
  23.   Dividends to stockholders declared and unpaid....................................................................................................................................                                 ...........................................   ...........................................
  24.   Miscellaneous liabilities:
        24.01 Asset valuation reserve..............................................................................................................................................................                       ........................18,734,176            ..........................7,937,065
        24.02 Reinsurance in unauthorized companies...................................................................................................................................                                    ...........................................   ...........................................
        24.03 Funds held under reinsurance treaties with unauthorized reinsurers........................................................................................                                                  .............................311,604          .............................209,754
        24.04 Payable to parent, subsidiaries and affiliates.............................................................................................................................                                 .............................224,922          .............................229,892
        24.05 Drafts outstanding......................................................................................................................................................................                    ...........................................   ...........................................
        24.06 Liability for amounts held under uninsured plans.......................................................................................................................                                     ...........................................   ...........................................
        24.07 Funds held under coinsurance...................................................................................................................................................                             ...........................................   ...........................................
        24.08 Derivatives.................................................................................................................................................................................                ......................340,331,255             ......................453,469,797
        24.09 Payable for securities.................................................................................................................................................................                     ...........................................   ...........................................
        24.10 Capital notes $..........0 and interest thereon $..........0...............................................................................................................                                 ...........................................   ...........................................
 25.    Aggregate write-ins for liabilities............................................................................................................................................................                   ........................10,318,904            ..........................9,842,806
 26.    Total liabilities excluding Separate Accounts business (Lines 1 to 25).................................................................................................                                           ...................7,923,283,542              ...................7,717,522,823
 27.    From Separate Accounts statement......................................................................................................................................................                            ...........................................   ...........................................
 28.    Total liabilities (Lines 26 and 27)...........................................................................................................................................................                    ...................7,923,283,542              ...................7,717,522,823
 29.    Common capital stock...........................................................................................................................................................................                   ..........................3,000,000           ..........................3,000,000
 30.    Preferred capital stock...........................................................................................................................................................................                ...........................................   ...........................................
 31.    Aggregate write-ins for other than special surplus funds.......................................................................................................................                                   ........................................0     ........................................0
 32.    Surplus notes.........................................................................................................................................................................................            ........................30,000,000            ........................30,000,000
 33.    Gross paid in and contributed surplus...................................................................................................................................................                          ......................165,972,114             ......................165,972,114
 34.    Aggregate write-ins for special surplus funds........................................................................................................................................                             ..........................8,246,061           ..........................8,246,061
 35.    Unassigned funds (surplus)...................................................................................................................................................................                     ......................292,772,380             ......................285,091,340
 36.    Less treasury stock, at cost:
        36.1 .....0.000 shares common (value included in Line 29 $..........0)................................................................................................                                            ...........................................   ...........................................
        36.2 .....0.000 shares preferred (value included in Line 30 $..........0)................................................................................................                                         ...........................................   ...........................................
 37.    Surplus (Total Lines 31 + 32 + 33 + 34 + 35 - 36) (including $..........0 in Separate Accounts Statement)...........................................                                                              ......................496,990,555             ......................489,309,515
 38.    Totals of Lines 29, 30 and 37................................................................................................................................................................                     ......................499,990,555             ......................492,309,515
 39.    Totals of Lines 28 and 38......................................................................................................................................................................                   ...................8,423,274,097              ...................8,209,832,337
                                                                                                                                   DETAILS OF WRITE-INS
2501.   Broker deposits on Loaned Securities...................................................................................................................................................                           ..........................7,004,728           ..........................7,150,505
2502.   Interest payable surplus note................................................................................................................................................................                     ..........................1,442,551           .............................880,051
2503.   Uncashed checks pending escheatment...............................................................................................................................................                                .............................654,982          .............................595,191
2598.   Summary of remaining write-ins for Line 25 from overflow page..........................................................................................................                                           ..........................1,216,643           ..........................1,217,058
2599.   Totals (Lines 2501 thru 2503 plus 2598) (Line 25 above).....................................................................................................................                                      ........................10,318,904            ..........................9,842,806
3101.   ...............................................................................................................................................................................................................   ...........................................   ...........................................
3102.   ...............................................................................................................................................................................................................   ...........................................   ...........................................
3103.   ...............................................................................................................................................................................................................   ...........................................   ...........................................
3198.   Summary of remaining write-ins for Line 31 from overflow page..........................................................................................................                                           ........................................0     ........................................0
3199.   Totals (Lines 3101 thru 3103 plus 3198) (Line 31 above).....................................................................................................................                                      ........................................0     ........................................0
3401.   Net DTA SSAP 10R...............................................................................................................................................................................                   ..........................8,246,061           ..........................8,246,061
3402.   ...............................................................................................................................................................................................................   ...........................................   ...........................................
3403.   ...............................................................................................................................................................................................................   ...........................................   ...........................................
3498.   Summary of remaining write-ins for Line 34 from overflow page..........................................................................................................                                           ........................................0     ........................................0
3499.   Totals (Lines 3401 thru 3403 plus 3498) (Line 34 above).....................................................................................................................                                      ..........................8,246,061           ..........................8,246,061




                                                                                                                                                    Q03
Statement as of March 31, 2010 of the                Life Insurance Company of the Southwest

                                                                                                     SUMMARY OF OPERATIONS
                                                                                                                                                                                                                         1                                   2                                   3
                                                                                                                                                                                                                    Current                               Prior                     Prior Year Ended
                                                                                                                                                                                                                Year to Date                        Year to Date                       December 31
 1.   Premiums and annuity considerations for life and accident and health contracts...................................................................                                                  ............355,395,303             ............314,797,199             .........1,574,649,424
 2.   Considerations for supplementary contracts with life contingencies.......................................................................................                                          .................................   .................................   .................................
 3.   Net investment income............................................................................................................................................................                  ............147,736,323             ..............75,236,307            ............528,978,313
 4.   Amortization of Interest Maintenance Reserve (IMR).............................................................................................................                                    ...................395,375          .....................84,240         ...................644,964
 5.   Separate Accounts net gain from operations excluding unrealized gains or losses...............................................................                                                     .................................   .................................   .................................
 6.   Commissions and expense allowances on reinsurance ceded...............................................................................................                                             ...................157,977          ...................101,989          ...................510,252
 7.   Reserve adjustments on reinsurance ceded...........................................................................................................................                                .................................   .................................   .................................
 8.   Miscellaneous Income:
       8.1 Income from fees associated with investment management, administration and contract guarantees
             from Separate Accounts................................................................................................................................................                      .................................   .................................   .................................
       8.2 Charges and fees for deposit-type contracts.................................................................................................................                                  .................................   .................................   .................................
       8.3 Aggregate write-ins for miscellaneous income..............................................................................................................                                    ...................216,339          ....................(21,473)        ...................682,695
 9.   Totals (Lines 1 to 8.3).............................................................................................................................................................               ............503,901,318             ............390,198,262             .........2,105,465,648
10.   Death benefits.........................................................................................................................................................................            ................6,123,310           ................6,127,982           ..............25,771,590
11.   Matured endowments (excluding guaranteed annual pure endowments)..............................................................................                                                     ...................680,282          ...................120,280          ...................621,877
12.   Annuity benefits.......................................................................................................................................................................            ................9,704,456           ................8,797,285           ..............38,907,886
13.   Disability benefits and benefits under accident and health contracts......................................................................................                                         ...................295,337          ...................202,361          ...................893,166
14.   Coupons, guaranteed annual pure endowments and similar benefits....................................................................................                                                .................................   .................................   .................................
15.   Surrender benefits and withdrawals for life contracts.............................................................................................................                                 ............111,592,545             ............122,964,992             ............472,909,985
16.   Group conversions..................................................................................................................................................................                .................................   .................................   .................................
17.   Interest and adjustments on contract or deposit-type contract funds......................................................................................                                          ................2,747,533           ................2,200,453           ................6,462,005
18.   Payments on supplementary contracts with life contingencies...............................................................................................                                         .....................25,388         .....................25,588         ...................102,031
19.   Increase in aggregate reserves for life and accident and health contracts.............................................................................                                             ............278,321,724             ............171,958,432             .........1,186,186,838
20.   Totals (Lines 10 to 19)............................................................................................................................................................                ............409,490,573             ............312,397,373             .........1,731,855,377
21.   Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only).........................                                                                    ..............43,079,542            ..............38,001,118            ............184,606,116
22.   Commissions and expense allowances on reinsurance assumed..........................................................................................                                                .................................   .................................   .................................
23.   General insurance expenses..................................................................................................................................................                       ................9,913,556           ................8,543,337           ..............37,524,002
24.   Insurance taxes, licenses and fees, excluding federal income taxes......................................................................................                                           ................1,902,575           ................1,217,428           ................5,957,711
25.   Increase in loading on deferred and uncollected premiums....................................................................................................                                       ..................(237,969)         ..................(110,132)         ....................(13,697)
26.   Net transfers to or (from) Separate Accounts net of reinsurance............................................................................................                                        .................................   .................................   .................................
27.   Aggregate write-ins for deductions..........................................................................................................................................                       ....................(98,451)        ..................(111,516)         ..................(323,313)
28.   Totals (Lines 20 to 27)............................................................................................................................................................                ............464,049,826             ............359,937,608             .........1,959,606,196
29.   Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus Line 28)......................                                                                   ..............39,851,491            ..............30,260,654            ............145,859,452
30.   Dividends to policyholders......................................................................................................................................................                   ..........................344       ..........................387       .....................36,636
31.   Net gain from operations after dividends to policyholders and before federal income taxes (Line 29 minus Line 30)...........                                                                       ..............39,851,147            ..............30,260,267            ............145,822,816
32.   Federal and foreign income taxes incurred (excluding tax on capital gains)..........................................................................                                               ..............13,975,099            ..............10,972,837            ..............53,463,402
33.   Net gain from operations after dividends to policyholders and federal income taxes and before realized
      capital gains or (losses) (Line 31 minus Line 32)....................................................................................................................                              ..............25,876,048 ..............19,287,430 ..............92,359,414
34.   Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains
      tax of $.....(11,299,960) (excluding taxes of $.....5,649,995 transferred to the IMR)...............................................................                                               ..................(105,443) .............(12,083,551) .............(40,584,890)
35.   Net income (Line 33 plus Line 34)..........................................................................................................................................                        ..............25,770,606 ................7,203,879 ..............51,774,524
                                                      CAPITAL AND SURPLUS ACCOUNT
36.   Capital and surplus, December 31, prior year.........................................................................................................................                              ............492,309,515             ............420,121,367             ............420,121,367
37.   Net income (Line 35)...............................................................................................................................................................                ..............25,770,606            ................7,203,879           ..............51,774,524
38.   Change in net unrealized capital gains (losses) less capital gains tax of $..........0................................................................                                             ...............(8,401,470)          ..................(175,000)         ...............(2,459,097)
39.   Change in net unrealized foreign exchange capital gain (loss)...............................................................................................                                       .................................   .................................   .................................
40.   Change in net deferred income tax.........................................................................................................................................                         ................3,254,074           .................................   ................2,453,176
41.   Change in nonadmitted assets................................................................................................................................................                       ...............(2,145,058)          ...................309,686          ................4,621,338
42.   Change in liability for reinsurance in unauthorized companies...............................................................................................                                       .................................   .................................   .................................
43.   Change in reserve on account of change in valuation basis, (increase) or decrease.............................................................                                                     .................................   .................................   ................1,666,683
44.   Change in asset valuation reserve..........................................................................................................................................                        .............(10,797,111)           ...............(4,355,459)          ................5,885,464
45.   Change in treasury stock........................................................................................................................................................                   .................................   .................................   .................................
46.   Surplus (contributed to) withdrawn from Separate Accounts during period............................................................................                                                .................................   .................................   .................................
47.   Other changes in surplus in Separate Accounts Statement....................................................................................................                                        .................................   .................................   .................................
48.   Change in surplus notes.........................................................................................................................................................                   .................................   .................................   .................................
49.   Cumulative effect of changes in accounting principles...........................................................................................................                                   .................................   .................................   .................................
50.   Capital changes:
      50.1 Paid in............................................................................................................................................................................           ................................. ................................. .................................
      50.2 Transferred from surplus (Stock Dividend)....................................................................................................................                                 ................................. ................................. .................................
      50.3 Transferred to surplus...................................................................................................................................................                     ................................. ................................. .................................
51.   Surplus adjustment:
      51.1 Paid in............................................................................................................................................................................           .................................   .................................   .................................
      51.2 Transferred to capital (Stock Dividend).........................................................................................................................                              .................................   .................................   .................................
      51.3 Transferred from capital................................................................................................................................................                      .................................   .................................   .................................
      51.4 Change in surplus as a result of reinsurance................................................................................................................                                  .................................   .................................   .................................
52.   Dividends to stockholders.......................................................................................................................................................                   .................................   .................................   .................................
53.   Aggregate write-ins for gains and losses in surplus................................................................................................................                                ..............................0     ..............................0     ................8,246,061
54.   Net change in capital and surplus (Lines 37 through 53)........................................................................................................                                    ................7,681,040           ................2,983,106           ..............72,188,148
55.   Capital and surplus as of statement date (Lines 36 + 54).......................................................................................................                                    ............499,990,555             ............423,104,473             ............492,309,515
                                                                                                                                  DETAILS OF WRITE-INS
 08.301.       COLI valuation change..................................................................................................................................................                   .....................62,467         .....................63,269         ...................356,755
 08.302.       Miscellaneous income...................................................................................................................................................                   .....................86,027         ..................(112,797)         ...................184,407
 08.303.       Interest on agents debit balances..................................................................................................................................                       .....................74,258         .....................31,332         ...................163,392
 08.398.       Summary of remaining write-ins for Line 8.3 from overflow page.................................................................................                                           ......................(6,413)       ......................(3,277)       ....................(21,859)
 08.399.       Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)...................................................................................                                         ...................216,339          ....................(21,473)        ...................682,695
  2701.        Reserve adjustment of modified coinsurance................................................................................................................                                ..................(111,272)         ..................(112,214)         ..................(330,771)
  2702.        Fines and penalties.......................................................................................................................................................                .......................2,065        .......................1,180        .......................3,865
  2703.        Changes in agents def comp.........................................................................................................................................                       ......................(2,089)       ......................(1,514)       ......................(7,191)
  2798.        Summary of remaining write-ins for Line 27 from overflow page..................................................................................                                           .....................12,845         .......................1,032        .....................10,783
  2799.        Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above).............................................................................................                                      ....................(98,451)        ..................(111,516)         ..................(323,313)
  5301.        Surplus Adj Net DTA SSAP 10R...................................................................................................................................                           .................................   .................................   ................8,246,061
  5302.        .......................................................................................................................................................................................   .................................   .................................   .................................
  5303.        .......................................................................................................................................................................................   .................................   .................................   .................................
  5398.        Summary of remaining write-ins for Line 53 from overflow page..................................................................................                                           ..............................0     ..............................0     ..............................0
  5399.        Totals (Lines 5301 thru 5303 plus 5398) (Line 53 above).............................................................................................                                      ..............................0     ..............................0     ................8,246,061




                                                                                                                                                     Q04
Statement as of March 31, 2010 of the                Life Insurance Company of the Southwest
                                                                                                                               CASH FLOW
                                                                                                                                                                                                             1                                     2                               3
                                                                                                                                                                                                        Current Year                          Prior Year                   Prior Year Ended
                                                                                                                                                                                                          to Date                              To Date                      December 31
                                                                   CASH FROM OPERATIONS
   1.      Premiums collected net of reinsurance............................................................................................................................... .............355,928,638 .............315,177,517 ..........1,574,565,861
   2.      Net investment income........................................................................................................................................................ .............142,353,455 ...............61,445,113 .............330,830,204
   3.      Miscellaneous income......................................................................................................................................................... ....................311,849 ......................80,516 ....................836,192
   4.      Total (Lines 1 through 3)..................................................................................................................................................... .............498,593,942 .............376,703,146 ..........1,906,232,257
   5.      Benefit and loss related payments...................................................................................................................................... .............132,497,144 .............138,944,490 .............544,908,644
   6.      Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts................................................ ................................... ................................... ...................................
   7.      Commissions, expenses paid and aggregate write-ins for deductions.............................................................................. ...............59,358,117 ...............49,968,322 .............225,120,052
   8.      Dividends paid to policyholders........................................................................................................................................... ...........................389 ...........................376 ......................36,161
   9.       Federal and foreign income taxes paid (recovered) net of $..........0 tax on capital gains (losses)................................... .............................30 ................................... ...............26,061,217
  10.      Total (Lines 5 through 9)..................................................................................................................................................... .............191,855,680 .............188,913,188 .............796,126,075
  11.      Net cash from operations (Line 4 minus Line 10)............................................................................................................... .............306,738,263 .............187,789,958 ..........1,110,106,183
                                                                  CASH FROM INVESTMENTS
 12.       Proceeds from investments sold, matured or repaid:
           12.1 Bonds........................................................................................................................................................................ .............606,785,071 ..........1,275,960,081 ..........2,610,051,827
           12.2 Stocks........................................................................................................................................................................ ................................... ................................... ...................................
           12.3 Mortgage loans......................................................................................................................................................... .................8,889,590 .................6,895,732 ...............40,836,057
           12.4 Real estate................................................................................................................................................................ ................................... ................................... ...................................
           12.5 Other invested assets............................................................................................................................................... .....................(63,086) .................1,083,954 .................1,304,892
           12.6 Net gains or (losses) on cash, cash equivalents and short-term investments......................................................... ................................... ................................... ...................................
           12.7 Miscellaneous proceeds........................................................................................................................................... .............112,262,046 ................................... .................9,044,950
           12.8 Total investment proceeds (Lines 12.1 to 12.7)....................................................................................................... .............727,873,621 ..........1,283,939,767 ..........2,661,237,726
  13.      Cost of investments acquired (long-term only):
           13.1 Bonds........................................................................................................................................................................ .............835,104,350 ..........1,469,856,783 ..........3,652,427,414
           13.2 Stocks........................................................................................................................................................................ ................................... ................................... ...................................
           13.3 Mortgage loans......................................................................................................................................................... ................................... ................................... ...............11,700,000
           13.4 Real estate................................................................................................................................................................ ................................... ................................... ...................................
           13.5 Other invested assets............................................................................................................................................... ................................... .................1,065,204 .................5,575,056
           13.6 Miscellaneous applications....................................................................................................................................... .............137,340,716 .................4,175,587 .................5,605,682
           13.7 Total investments acquired (Lines 13.1 to 13.6)...................................................................................................... .............972,445,066 ..........1,475,097,574 ..........3,675,308,152
  14.      Net increase (decrease) in contract loans and premium notes.......................................................................................... ....................958,275 ................(2,661,764) .................5,732,257
  15.      Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)................................................................................ ............(245,529,721) ............(188,496,043) .........(1,019,802,683)
                                  CASH FROM FINANCING AND MISCELLANEOUS SOURCES
  16.      Cash provided (applied):
           16.1 Surplus notes, capital notes...................................................................................................................................... ................................... ................................... ...................................
           16.2 Capital and paid in surplus, less treasury stock....................................................................................................... ................................... ................................... ...................................
           16.3 Borrowed funds......................................................................................................................................................... ................................... ................................... ...................................
           16.4 Net deposits on deposit-type contracts and other insurance liabilities.................................................................... .................2,919,593 ...................(842,763) .....................(43,395)
           16.5 Dividends to stockholders......................................................................................................................................... ................................... ................................... ...................................
           16.6 Other cash provided (applied).................................................................................................................................. ................(5,746,228) ..............(20,740,698) .................6,141,795
  17.       Net cash from financing and miscellaneous sources (Lines 16.1 through 16.4 minus Line 16.5 plus Line 16.6)............ ................(2,826,634) ..............(21,583,461) .................6,098,401
        RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
  18.      Net change in cash, cash equivalents and short-term investments (Line 11 plus Line 15 plus Line 17).......................... ...............58,381,908 ..............(22,289,545) ...............96,401,900
  19.      Cash, cash equivalents and short-term investments:
           19.1 Beginning of year...................................................................................................................................................... .............131,203,046 ...............34,801,146 ...............34,801,146
           19.2 End of period (Line 18 plus Line 19.1)..................................................................................................................... .............189,584,953 ...............12,511,600 .............131,203,046
Note: Supplemental disclosures of cash flow information for non-cash transactions:
 20.0001 ................................................................................................................................................................................... ................................... ................................... ...................................




                                                                                                                                                Q05
Statement as of March 31, 2010 of the                 Life Insurance Company of the Southwest
                                                                                                                                    EXHIBIT 1
                                                                                      DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS
                                                                                                                                                                             1                                                 2                                           3
                                                                                                                                                                        Current Year                                      Prior Year                                  Prior Year
                                                                                                                                                                          To Date                                          To Date                                Ended December 31

  1.      Industrial life.............................................................................................................................. ............................................... ............................................... ...............................................

  2.      Ordinary life insurance............................................................................................................... ............................64,741,539 ............................46,706,307 ..........................192,990,061

  3.      Ordinary individual annuities..................................................................................................... ..........................276,234,073 ..........................248,137,997 .......................1,306,994,648

  4.      Credit life (group and individual)................................................................................................ ............................................... ............................................... ...............................................

  5.      Group life insurance.................................................................................................................. .....................................2,451 .....................................2,891 ...................................41,469

  6.      Group annuities......................................................................................................................... ............................16,538,224 ............................21,784,419 ............................83,179,361

  7.      A&H - group............................................................................................................................... ............................................... ............................................... ...............................................

  8.      A&H - credit (group and individual)............................................................................................ ............................................... ............................................... ...............................................

  9.      A&H - other................................................................................................................................ ...................................22,617 ...................................24,035 ...................................98,206

 10. Aggregate of all other lines of business..................................................................................... ............................................0 ............................................0 ............................................0

 11. Subtotal..................................................................................................................................... ..........................357,538,904 ..........................316,655,648 .......................1,583,303,744

 12. Deposit-type contracts............................................................................................................... .................................738,823 ..............................1,196,084 ..............................8,541,832

 13. Total........................................................................................................................................... ..........................358,277,727 ..........................317,851,732 .......................1,591,845,576

                                                                                                                                DETAILS OF WRITE-INS

1001. ................................................................................................................................................... ............................................... ............................................... ...............................................

1002. ................................................................................................................................................... ............................................... ............................................... ...............................................

1003. ................................................................................................................................................... ............................................... ............................................... ...............................................

1098. Summary of remaining write-ins for Line 10 from overflow page.............................................. ............................................0 ............................................0 ............................................0

1099. Total (Lines 1001 thru 1003 plus 1098) (Line 10 above)........................................................... ............................................0 ............................................0 ............................................0




                                                                                                                                                   Q06
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                      NOTES TO FINANCIAL STATEMENTS

Note 1 - Summary of Significant Accounting Policies

       A.        Accounting Practices

              The financial statements of Life Insurance Company of the Southwest (the Company) are presented on the basis of
              accounting practices prescribed or permitted by the Texas Department of Insurance.

              The Texas Department of Insurance recognizes only statutory accounting practices prescribed or permitted by the state
              of Texas for determining and reporting the financial condition and results of operations of an insurance company for
              determining its solvency under the Texas Insurance Law. The National Association of Insurance Commissioners’ (NAIC)
              Accounting Practices and Procedures manual (NAIC SAP) has been adopted as a component of prescribed or permitted
              practices by the State of Texas.

              With permission of the Texas Department of Insurance, substantive amendments to the NAIC Accounting Practices and
              Procedures Manual for SSAP No. 10R, Income Taxes – Revised, a Temporary Replacement of SSAP No. 10, is
              permitted. The Company recognized a gain in surplus of $8,246,061 with the application of SSAP No. 10R.

              A reconciliation of the Company’s net income and capital and surplus between NAIC SAP and practices prescribed and
              permitted by the State of Texas is shown below:

                                                                            State of
                                                                            Domicile               2010             2009
              (1)       Net Income (Loss) Texas State basis                                   $ 25,770,606     $ 51,774,524

              (2)       State Prescribed Practice (Income)                      TX                     -0-                 -0-

              (3)       State Permitted Practices (Income)                      TX                     -0-                 -0-

              (4)       Net Income, NAIC SAP                                                     25,770,606        51,774,524

              (5)       Statutory Surplus                                                       499,990,555       492,309,515

              (6)       State Prescribed Practice (Surplus)                     TX                     -0-                 -0-

              (7)       State Permitted Practice (Surplus)                      TX                     -0-          8,246,061

              (8)       Statutory Surplus, NAIC SAP                                           $ 499,990,555    $ 484,063,454


Note 2 - Accounting Changes and Corrections of Errors

                 No significant change.


Note 3 - Business Combinations and Goodwill

                 No significant change.


Note 4 - Discontinued Operations

                 No significant change.


Note 5 - Investments

              D. Loan-Backed Securities

              (2)       Prepayment assumptions used in the calculation of the effective yield and valuation of loan-backed bonds and
                        structured securities are based on available industry sources and information provided by lenders. The
                        retrospective adjustment methodology is used for the valuation of securities held by the Company.

              (4)       None

              (5)       None

              (6)
                                                  LT 12 months                   GT 12 months                   Total
                                         Fair Value       Unreal Loss   Fair Value      Unreal Loss    Fair Value       Unreal Loss
              Total CMBS                 7,992,700          (507,703)   77,639,162      (50,857,076)   85,631,862       (51,364,779)

              (7)       Cash flow models were reviewed on all of the CMBS and it was determined at this time that impairments were not
                        other than temporary.




                                                                            Q07
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                  NOTES TO FINANCIAL STATEMENTS
Note 6 - Joint Ventures, Partnerships and Limited Liability Companies

                 No significant change.


Note 7 - Investment Income

                 No significant change.


Note 8 - Derivative Instruments

                 No significant change.


Note 9 - Income Taxes

                 No significant change.


Note 10 - Information Concerning Parent, Subsidiaries, Affiliates and Other Related Parties

                 No significant change.


Note 11 - Debt

                 No significant change.


Note 12 - Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated Absences and Other
          Postretirement Benefit Plans

                 No significant change.


Note 13 - Capital and Surplus, Shareholders’ Dividend Restrictions and Quasi-Reorganizations

                 No significant change.


Note 14 - Contingencies

                 No significant change.


Note 15 - Leases

                 No significant change.


Note 16 - Information About Financial Instruments With Off-Balance Sheet Risk and Financial Instruments With
          Concentrations of Credit Risk

                 No significant change.


Note 17 - Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities

                 C.         Wash Sales: None


Note 18 - Gain or Loss to the Reporting Entity from Uninsured Plans and the Uninsured Portion of Partially Insured
          Plans

                 No significant change.


Note 19 - Direct Premium Written/Produced by Managing General Agents/Third Party Administrators

          No significant change.
Note 20 - Other Items

                 No significant change.




                                                                   Q07.1
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                  NOTES TO FINANCIAL STATEMENTS
Note 21 - Events Subsequent

                 No significant change.


Note 22 - Reinsurance

                 No significant change.


Note 23 - Retrospectively Rated Contracts & Contracts Subject to Redetermination

                 No significant change.


Note 24 - Change in Incurred Losses and Loss Adjustment Expenses

                 Not Applicable.


Note 25 - Intercompany Pooling Arrangements

                 No significant change.


Note 26 - Structured Settlements

                 No significant change.


Note 27 - Health Care Receivables

                 No significant change.


Note 28 - Participating Policies

                 No significant change.


Note 29 - Premium Deficiency Reserves

                 No significant change.


Note 30 - Reserves for Life Contracts and Annuity Contracts

                 No significant change.


Note 31 - Analysis of Annuity Actuarial Reserves and Deposit Liabilities by Withdrawal Characteristics

                 No significant change.


Note 32 - Premiums and Annuity Considerations Deferred and Uncollected

                 No significant change.


Note 33 - Separate Accounts

                 No significant change.


Note 34 - Loss/Claim Adjustment Expenses

                 No significant change.




                                                                   Q07.2
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                                      GENERAL INTERROGATORIES
                                                                        PART 1 - COMMON INTERROGATORIES
                                                                                    GENERAL
1.1   Did the reporting entity experience any material transactions requiring the filing of Disclosure of Material Transactions with the State of Domicile, as
      required by the Model Act?                                                                                                                                                Yes [ ]                 No [ X ]

1.2   If yes, has the report been filed with the domiciliary state?                                                                                                              Yes [ ]                 No [ ]

2.1   Has any change been made during the year of this statement in the charter, by-laws, articles of incorporation, or deed of settlement of the reporting entity?             Yes [ ]                 No [ X ]

2.2   If yes, date of change:                                                                                                                                              .........................................

3.    Have there been any substantial changes in the organizational chart since the prior quarter end?                                                                          Yes [ ]                 No [ X ]
      If yes, complete the Schedule Y-Part 1 - Organizational chart.

4.1   Has the reporting entity been a party to a merger or consolidation during the period covered by this statement?                                                           Yes [ ]                 No [ X ]

4.2   If yes, provide name of entity, NAIC Company Code, and state of domicile (use two letter state abbreviation) for any entity that has ceased to exist
      as a result of the merger or consolidation.
                                                          1                                                            2                    3
                                                                                                                     NAIC                State of
                                                    Name of Entity                                             Company Code              Domicile


5.    If the reporting entity is subject to a management agreement, including third-party administrator(s), managing general agent(s), attorney-in-fact,
      or similar agreement, have there been any significant changes regarding the terms of the agreement or principals involved?                                         Yes [ ] No [ X ] N/A [ ]
      If yes, attach an explanation.



6.1   State as of what date the latest financial examination of the reporting entity was made or is being made.                                                            12/31/2009.......................

6.2   State the as of date that the latest financial examination report became available from either the state of domicile or the reporting entity. This date should
      be the date of the examined balance sheet and not the date the report was completed or released.                                                                     12/31/2004.......................

6.3   State as of what date the latest financial examination report became available to other states or the public from either the state of domicile or
      the reporting entity. This is the release date or completion date of the examination report and not the date of the examination (balance sheet date).                6/8/2006...........................

6.4   By what department or departments?
               Texas Department of Insurance


6.5   Have all financial statement adjustments within the latest financial examination report been accounted for in a subsequent financial statement
      filed with Departments?                                                                                                                                            Yes [ X ] No [ ] N/A [ ]

6.6   Have all of the recommendations within the latest financial examination report been complied with?                                                                 Yes [ X ] No [ ] N/A [ ]

7.1   Has this reporting entity had any Certificates of Authority, licenses or registrations (including corporate registration, if applicable) suspended or revoked
      by any governmental entity during the reporting period?                                                                                                                   Yes [ ]                 No [ X ]

7.2   If yes, give full information:



8.1   Is the company a subsidiary of a bank holding company regulated by the Federal Reserve Board?                                                                             Yes [ ]                 No [ X ]

8.2   If response to 8.1 is yes, please identify the name of the bank holding company.



8.3   Is the company affiliated with one or more banks, thrifts or securities firms?                                                                                            Yes [ ]                 No [ X ]

8.4   If the response to 8.3 is yes, please provide below the names and location (city and state of the main office) of any affiliates regulated by a federal
      regulatory services agency [i.e. the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the Office of Thrift
      Supervision (OTS), the Federal Deposit Insurance Corporation (FDIC) and the Securities Exchange Commission (SEC)] and identify the affiliate's
      primary federal regulator].
                                            1                                    2                      3                    4                    5                6                         7
                                    Affiliate Name                     Location (City, State)          FRB                  OCC                  OTS              FDIC                      SEC


9.1   Are the senior officers (principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing
      similar functions) of the reporting entity subject to a code of ethics, which includes the following standards?                                                           Yes [ X ]                No [ ]
      (a)      Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and
               professional relationships;
      (b)      Full, fair, accurate, timely and understandable disclosure in the periodic reports required to be filed by the reporting entity;
      (c)      Compliance with applicable governmental laws, rules and regulations;
      (d)      The prompt internal reporting of violations to an appropriate person or persons identified in the code; and
      (e)      Accountability for adherence to the code.

9.11 If the response to 9.1 is No, please explain:




9.2   Has the code of ethics for senior managers been amended?                                                                                                                  Yes [ ]                 No [ X ]

9.21 If the response to 9.2 is Yes, provide information related to amendment(s).



9.3   Have any provisions of the code of ethics been waived for any of the specified officers?                                                                                  Yes [ ]                 No [ X ]




                                                                                                     Q08
Statement as of March 31, 2010 of the           Life Insurance Company of the Southwest
                                                                                            GENERAL INTERROGATORIES
                                                                                                  PART 1 - COMMON INTERROGATORIES
                                                                                                              GENERAL
9.31 If the response to 9.3 is Yes, provide the nature of any waiver(s).



                                                                                                                                   FINANCIAL
10.1 Does the reporting entity report any amounts due from parent, subsidiaries or affiliates on Page 2 of this statement?                                                                                                           Yes [ X ]               No [ ]

10.2 If yes, indicate any amounts receivable from parent included in the Page 2 amount:                                                                                                                                          $....................17,211,545

                                                                                                                                 INVESTMENT
11.1 Were any of the stocks, bonds, or other assets of the reporting entity loaned, placed under option agreement, or otherwise made available
     for use by another person? (Exclude securities under securities lending agreements.)                                                                                                                                            Yes [ ]                No [ X ]

11.2 If yes, give full and complete information relating thereto:



 12. Amount of real estate and mortgages held in other invested assets in Schedule BA:                                                                                                                                           $.........................247,368

 13. Amount of real estate and mortgages held in short-term investments:                                                                                                                                                         $....................................0

14.1 Does the reporting entity have any investments in parent, subsidiaries and affiliates?                                                                                                                                          Yes [ ]                No [ X ]

14.2 If yes, please complete the following:                                                                                                                                       1                                            2
                                                                                                                                                                           Prior Year-End                              Current Quarter
                                                                                                                                                                     Book/Adjusted Carrying Value                Book/Adjusted Carrying Value
      14.21    Bonds............................................................................................................................................                 $ ..........................0           $ ......................................0
      14.22    Preferred Stock.............................................................................................................................                      $ ..........................0           $ ......................................0
      14.23    Common Stock.............................................................................................................................                         $ ..........................0           $ ......................................0
      14.24    Short-Term Investments...............................................................................................................                             $ ..........................0           $ ......................................0
      14.25    Mortgage Loans on Real Estate...................................................................................................                                  $ ..........................0           $ ......................................0
      14.26    All Other........................................................................................................................................                 $ ..........................0           $ ......................................0
      14.27    Total Investment in Parent, Subsidiaries and Affiliates (Subtotal Lines 14.21 to 14.26)..............                                                             $ ..........................0           $ ......................................0
      14.28    Total Investment in Parent included in Lines 14.21 to 14.26 above.............................................                                                    $ ..........................0           $ ......................................0

15.1 Has the reporting entity entered into any hedging transactions reported on Schedule DB?                                                                                                                                         Yes [ X ]               No [ ]

15.2 If yes, has a comprehensive description of the hedging program been made available to the domiciliary state?                                                                                                                    Yes [ X ]               No [ ]
     If no, attach a description with this statement.



 16. Excluding items in Schedule E-Part 3-Special Deposits, real estate, mortgage loans and investments held physically in the reporting
     entity's offices, vaults or safety deposit boxes, were all stocks, bonds and other securities, owned throughout the current year held
     pursuant to a custodial agreement with a qualified bank or trust company in accordance with Section 3, III. Conducting
     Examinations, F-Custodial or Safekeeping Agreements of the NAIC Financial Condition Examiners Handbook?                                                                                                                         Yes [ X ]               No [ ]

      16.1     For all agreements that comply with the requirements of the NAIC Financial Condition Examiners Handbook,
               complete the following:
                                        1                                                                         2
                             Name of Custodian(s)                                                         Custodian Address
               JP Morgan Chase                                    3 Chase Metrotech Center, Floor 6, Brooklyn, NY 11245


      16.2     For all agreements that do not comply with the requirements of the NAIC Financial Condition Examiners Handbook, provide the
               name, location and a complete explanation.
                                        1                                              2                                                            3
                                    Name(s)                                       Location(s)                                             Complete Explanation(s)



      16.3     Have there been any changes, including name changes, in the custodian(s) identified in 16.1 during the current quarter?                                                                                               Yes [ ]                No [ X ]

      16.4     If yes, give full and complete information relating thereto:
                                          1                                                                              2                                                3                                         4
                                    Old Custodian                                                                   New Custodian                                  Date of Change                                 Reason



      16.5     Identify all investment advisors, broker/dealers or individuals acting on behalf of broker/dealers that have access
               to the investment accounts, handle securities and have authority to make investments on behalf of the reporting entity:
                                         1                                                            2                                                            3
                          Central Registration Depository                                         Name(s)                                                      Address
                                      109396                          Sentinel Investments                                         One National Life Drive, Montpelier, VT 05604


       17.1 Have all the filing requirements of the Purposes and Procedures Manual of the NAIC Securities Valuation Office been followed?                                                                                            Yes [ X ]               No [ ]

       17.2 If no, list exceptions:




                                                                                                                                          Q08.1
Statement as of March 31, 2010 of the            Life Insurance Company of the Southwest
                                                                        GENERAL INTERROGATORIES (continued)
                                                                                                                  PART 2 - LIFE & HEALTH

1.    Report the statement value of mortgage loans at the end of this reporting period for the following categories:                                                                                                                                                 1

1.1   Long-term mortgages in good standing                                                                                                                                                                                                               Amount
      1.11 Farm mortgages............................................................................................................................................................................................................ $...................................................
      1.12      Residential mortgages................................................................................................................................................................................................... $...................................................
      1.13       Commercial mortgages................................................................................................................................................................................................. $..............................824,810,706
      1.14       Total mortgages in good standing................................................................................................................................................................................. $..............................824,810,706

1.2   Long-term mortgages in good standing with restructured terms
      1.21 Total mortgages in good standing with restructured terms............................................................................................................................................ $...................................................

1.3   Long-term mortgage loans upon which interest is overdue more than three months
      1.31       Farm mortgages............................................................................................................................................................................................................ $...................................................
      1.32      Residential mortgages................................................................................................................................................................................................... $...................................................
      1.33       Commercial mortgages................................................................................................................................................................................................. $...................................................
      1.34       Total mortgages with interest overdue more than three months................................................................................................................................... $................................................0

1.4   Long-term mortgage loans in process of foreclosure
      1.41       Farm mortgages............................................................................................................................................................................................................ $...................................................
      1.42      Residential mortgages................................................................................................................................................................................................... $...................................................
      1.43      Commercial mortgages................................................................................................................................................................................................. $...................................................
      1.44       Total mortgages in process of foreclosure.................................................................................................................................................................... $................................................0

1.5    Total mortgage loans (Lines 1.14 + 1.21 + 1.34 + 1.44) (Page 2, Column 3, Lines 3.1 + 3.2) .............................................................................................. $..............................824,810,706

1.6   Long-term mortgages foreclosed, properties transferred to real estate in current quarter
      1.61 Farm mortgages............................................................................................................................................................................................................ $...................................................
      1.62      Residential mortgages................................................................................................................................................................................................... $...................................................
      1.63      Commercial mortgages................................................................................................................................................................................................. $...................................................
      1.64      Total mortgages foreclosed and transferred to real estate............................................................................................................................................ $................................................0

2.    Operating Percentages:
      2.1    A&H loss percent........................................................................................................................................................................................................... .....................................................
      2.2        A&H cost containment percent...................................................................................................................................................................................... .....................................................
      2.3       A&H expense percent excluding cost containment expenses....................................................................................................................................... .....................................................

3.1    Do you act as a custodian for health savings accounts?..........................................................................................................................................................     Yes [ ]                 No [ X ]
3.2    If yes, please provide the amount of custodial funds held as of the reporting date.................................................................................................................. $...................................................
3.3   Do you act as an administrator for health savings accounts?...................................................................................................................................................                                         Yes [ ]                No [ X ]
3.4    If yes, please provide the balance of the funds administered as of the reporting date............................................................................................................. $...................................................




                                                                                                                                            Q09
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                       SCHEDULE S - CEDED REINSURANCE
                                                      Showing All New Reinsurance Treaties - Current Year to Date
       1                     2               3                        4                                      5            6               7
     NAIC                 Federal                                                                                      Type of       Is Insurer
    Company                 ID            Effective                                                                  Reinsurance   Authorized?
     Code                 Number            Date               Name of Reinsurer                          Location     Ceded       (YES or NO)




                                                                                   Q10
Statement as of March 31, 2010 of the                Life Insurance Company of the Southwest
                                                  SCHEDULE T - PREMIUMS AND ANNUITY CONSIDERATIONS
                                                                                          Current Year to Date - Allocated by States and Territories
                                                                                                                         1                                                                                   Direct Business Only
                                                                                                                                                    Life Contracts                                             4                                5                         6                          7
                                                                                                                                                2                           3                   Accident and Health
                                                                                                                                                                                               Insurance Premiums,                                                       Total
                                                                                                                      Active           Life Insurance                   Annuity               Including Policy, Mem-                        Other                    Columns                 Deposit-Type
                                             States, Etc.                                                             Status              Premiums                Considerations             bership and Other Fees Considerations                                 2 through 5                  Contracts
   1.      Alabama.....................................................................................AL         ......L.........   ........1,210,292            ........2,813,215          .................................57 .........................      ........4,023,563         .........................
   2.      Alaska........................................................................................AK       ......L.........    .............29,721         ...............2,225       .................................40 .........................      .............31,986       .........................
   3.      Arizona.......................................................................................AZ       ......L.........    ........1,531,469           ........2,503,623          .................................23 .........................      ........4,035,115         .........................
   4.      Arkansas...................................................................................AR          ......L.........    ...........181,119          ...........157,849         .................................19 .........................      ...........338,986        .........................
   5.      California...................................................................................CA        ......L.........    ......26,849,426            ......84,419,769           ...............................219 .........................       ....111,269,415            .............57,850
   6.      Colorado...................................................................................CO          ......L.........    ........1,602,418           ........1,905,852          ...............................507 .........................       ........3,508,777         .........................
   7.      Connecticut................................................................................CT          ......L.........    ...........437,133          ........4,584,376          ...................................... .........................   ........5,021,510         .........................
   8.      Delaware...................................................................................DE          ......L.........    ...........475,586          ........4,976,565          .................................23 .........................      ........5,452,174         .........................
   9.      District of Columbia...................................................................DC              ......L.........    ...........251,331          .............66,768        ...................................... .........................   ...........318,100        .........................
  10.      Florida........................................................................................FL      ......L.........    ........3,369,162           ......32,078,837           .................................97 .........................      ......35,448,097           .............23,072
  11.      Georgia.....................................................................................GA         ......L.........    ........1,655,915           ........6,914,686          .................................13 .........................      ........8,570,614         .........................
  12.      Hawaii.........................................................................................HI      ......L.........    ...........323,706          ........6,783,169          ...................................... .........................   ........7,106,876         .........................
  13.      Idaho...........................................................................................ID     ......L.........    .............65,267         ........1,187,284          .................................32 .........................      ........1,252,583         .........................
  14.      Illinois..........................................................................................IL   ......L.........    ........1,258,007           ........4,365,800          ...................................... .........................   ........5,623,807          .............79,490
  15.      Indiana........................................................................................IN      ......L.........    ...........189,619          ........4,206,115          .................................23 .........................      ........4,395,757          ...........137,471
  16.      Iowa............................................................................................IA     ......L.........    .............47,017         ........2,169,577          ...................................... .........................   ........2,216,594          ...........142,402
  17.      Kansas.......................................................................................KS        ......L.........    .............60,666         ........3,995,156          .................................93 .........................      ........4,055,915         .........................
  18.      Kentucky....................................................................................KY         ......L.........    .............36,320         ...........447,707         ...................................... .........................   ...........484,027        .........................
  19.      Louisiana....................................................................................LA        ......L.........    ...........130,551          ........2,858,845          ............................3,887 .........................        ........2,993,283         .........................
  20.      Maine........................................................................................ME        ......L.........    .............24,241         ...........292,171         ...................................... .........................   ...........316,412        .........................
  21.      Maryland...................................................................................MD          ......L.........    ........2,659,637           ........3,370,960          ...................................... .........................   ........6,030,598          .............59,620
  22.      Massachusetts..........................................................................MA              ......L.........    ...........438,998          ........3,907,268          ...................................... .........................   ........4,346,267         .........................
  23.      Michigan.....................................................................................MI        ......L.........    ...........818,416          ........9,002,105          .................................59 .........................      ........9,820,580          .............43,301
  24.      Minnesota.................................................................................MN           ......L.........    ........1,348,196           ........1,340,291          ...................................... .........................   ........2,688,486         .........................
  25.      Mississippi.................................................................................MS         ......L.........    ...........133,478          ...........387,503         ...............................333 .........................       ...........521,314        .........................
  26.      Missouri....................................................................................MO         ......L.........    ...........373,685          ........2,627,116          .................................69 .........................      ........3,000,870          .............50,000
  27.      Montana....................................................................................MT          ......L.........    ...............8,005        ...........813,479         ...............................102 .........................       ...........821,586        .........................
  28.      Nebraska...................................................................................NE          ......L.........    .............31,925         ...........680,852         .................................23 .........................      ...........712,800        .........................
  29.      Nevada......................................................................................NV         ......L.........    ...........548,003          ........2,543,253          .................................37 .........................      ........3,091,293         .........................
  30.      New Hampshire.........................................................................NH               ......L.........    ...........123,279         ..........(334,209)         ...................................... .........................   ..........(210,930)       .........................
  31.      New Jersey................................................................................NJ           ......L.........    ........1,216,691           ........2,337,499          ...................................... .........................   ........3,554,190         .........................
  32.      New Mexico..............................................................................NM             ......L.........    .............67,753         ........3,037,944          ...............................574 .........................       ........3,106,271         .........................
  33.      New York...................................................................................NY          ......N.........    ...........256,433          ........1,391,905          ...................................... .........................   ........1,648,339         .........................
  34.      North Carolina...........................................................................NC            ......L.........    ........1,713,922           ......10,564,158           .................................13 .........................      ......12,278,093          .........................
  35.      North Dakota.............................................................................ND            ......L.........    .............23,436         .............11,226        .................................98 .........................      .............34,760       .........................
  36.      Ohio..........................................................................................OH       ......L.........    ........1,791,179           ........4,896,214          .................................48 .........................      ........6,687,441          .............63,948
  37.      Oklahoma..................................................................................OK           ......L.........    ...........199,903          ........5,550,475          ............................2,103 .........................        ........5,752,481         .........................
  38.      Oregon......................................................................................OR         ......L.........    ...........194,955          .............91,059        ...................................... .........................   ...........286,014         .............81,669
  39.      Pennsylvania.............................................................................PA            ......L.........    ........1,070,049           ........8,984,373          ...............................105 .........................       ......10,054,527          .........................
  40.      Rhode Island...............................................................................RI          ......L.........    ...........109,817          ...........435,607         ...................................... .........................   ...........545,424        .........................
  41.      South Carolina...........................................................................SC            ......L.........    ...........387,936          ........2,862,822          .................................28 .........................      ........3,250,786         .........................
  42.      South Dakota.............................................................................SD            ......L.........    ...............8,387        .............45,800        ...................................... .........................   .............54,187       .........................
  43.      Tennessee.................................................................................TN           ......L.........    ...........640,033          ........1,961,370          .................................48 .........................      ........2,601,450         .........................
  44.      Texas.........................................................................................TX       ......L.........    ........6,502,523           ......44,036,652           ..........................13,034 .........................         ......50,552,209          .........................
  45.      Utah...........................................................................................UT      ......L.........    ...........360,821          ........2,643,992          ...............................274 .........................       ........3,005,087         .........................
  46.      Vermont.....................................................................................VT         ......L.........    ...........150,724          ........5,048,560          ...................................... .........................   ........5,199,283         .........................
  47.      Virginia.......................................................................................VA      ......L.........    ........1,896,560           ........4,760,159          ...................................... .........................   ........6,656,719         .........................
  48.      Washington...............................................................................WA            ......L.........    ........2,019,185           ...........988,925         .................................26 .........................      ........3,008,136         .........................
  49.      West Virginia............................................................................WV            ......L.........    .............48,120         ...........687,075         .................................10 .........................      ...........735,205        .........................
  50.      Wisconsin...................................................................................WI         ......L.........    ...........269,145          ........1,022,143          ...................................... .........................   ........1,291,289         .........................
  51.      Wyoming...................................................................................WY           ......L.........    .............16,913         ...........342,732         ...............................240 .........................       ...........359,885        .........................
  52.      American Samoa.......................................................................AS                ......N.........   .........................   .........................   ...................................... .........................   ......................0   .........................
  53.      Guam........................................................................................GU         ......N.........   .........................   .........................   ...................................... .........................   ......................0   .........................
  54.      Puerto Rico................................................................................PR          ......N.........    ..................317       ..................445      ...................................... .........................   ..................762     .........................
  55.      US Virgin Islands........................................................................VI            ......N.........   .........................   .........................   ...................................... .........................   ......................0   .........................
  56.      Northern Mariana Islands..........................................................MP                   ......N.........   .........................   .........................   ...................................... .........................   ......................0   .........................
  57.      Canada......................................................................................CN         ......N.........   .........................   .........................   ...................................... .........................   ......................0   .........................
  58.      Aggregate Other Alien...............................................................OT                 ....XXX......       .............71,739         ...............2,952       ...................................0 ......................0       .............74,691        ......................0
  59.      Subtotal..........................................................................................     (a)........50       ......65,229,127            ....292,772,297            ..........................22,258 ......................0           ....358,023,682            ...........738,823
  90.      Reporting entity contributions for employee benefit plans..............                                ....XXX......      .........................   .........................   ...................................... .........................   ......................0   .........................
  91.      Dividends or refunds applied to purchase paid-up
           additions and annuities...................................................................             ....XXX...... ....................68 ......................... ...................................... ......................... ....................68 .........................
  92.      Dividends or refunds applied to shorten endowment or
           premium paying period...................................................................               ....XXX...... ......................... ......................... ...................................... ......................... ......................0 .........................
  93.      Premium or annuity considerations waived under disability
           or other contract provisions............................................................                          .............58,444 ......................... ...................................... ......................... .............58,444
                                                                                                                  ....XXX......                                                                                                                                                           .........................
  94.      Aggregate other amounts not allocable by State...........................                                         ......................0 ......................0 ...................................0 ......................0 ......................0
                                                                                                                  ....XXX......                                                                                                                                                            ......................0
  95.      Totals (Direct Business).................................................................                         ......65,287,639 ....292,772,297 ..........................22,258 ......................0 ....358,082,194
                                                                                                                  ....XXX......                                                                                                                                                            ...........738,823
  96.      Plus Reinsurance Assumed...........................................................                               ...........114,704 ......................... ...................................... ......................... ...........114,704
                                                                                                                  ....XXX......                                                                                                                                                           .........................
  97.      Totals (All Business).......................................................................                      ......65,402,343 ....292,772,297 ..........................22,258 ......................0 ....358,196,898
                                                                                                                  ....XXX......                                                                                                                                                            ...........738,823
  98.      Less Reinsurance Ceded...............................................................                             ........2,268,173 ......................... .................................86 ......................... ........2,268,260
                                                                                                                  ....XXX......                                                                                                                                                           .........................
  99.      Totals (All Business) less Reinsurance Ceded..............................                                        ......63,134,170 ....292,772,297 ..........................22,171 ......................0 ....355,928,638
                                                                                                                  ....XXX......                                                                                                                                                            ...........738,823
                                                                                                                            DETAILS OF WRITE-INS
5801. Other foreign.................................................................................. ....XXX...... .............71,739 ...............2,952 ...................................... ......................... .............74,691                                         .........................
5802. ....................................................................................................... ....XXX...... ......................... ......................... ...................................... ......................... ......................0                  .........................
5803. ....................................................................................................... ....XXX...... ......................... ......................... ...................................... ......................... ......................0                  .........................
5898. Summary of remaining write-ins for line 58 from overflow page.... ....XXX...... ......................0 ......................0 ...................................0 ......................0 ......................0                                                                 ......................0
5899. Total (Lines 5801 thru 5803 plus 5898) (Line 58 above)................ ....XXX...... .............71,739 ...............2,952 ...................................0 ......................0 .............74,691                                                                       ......................0
9401. ....................................................................................................... ....XXX...... ......................... ......................... ...................................... ......................... ......................0                  .........................
9402. ....................................................................................................... ....XXX...... ......................... ......................... ...................................... ......................... ......................0                  .........................
9403. ....................................................................................................... ....XXX...... ......................... ......................... ...................................... ......................... ......................0                  .........................
9498. Summary of remaining write-ins for line 94 from overflow page.... ....XXX...... ......................0 ......................0 ...................................0 ......................0 ......................0                                                                 ......................0
9499. Total (Lines 9401 thru 9403 plus 9498) (Line 94 above)................ ....XXX...... ......................0 ......................0 ...................................0 ......................0 ......................0                                                            ......................0
(L) - Licensed or Chartered - Licensed Insurance Carrier or Domicilied RRG; (R) - Registered - Non-domiciled RRGs; (Q) - Qualified - Qualified or Accredited Reinsurer;
(E) - Eligible - Reporting Entities eligible or approved to write Surplus Lines in the state; (N) - None of the above - Not allowed to write business in the state.
  (a) Insert the number of L responses except for Canada and Other Alien.




                                                                                                                                                    Q11
      Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                              SCHEDULE Y – INFORMATION CONCERNING ACTIVITIES OF INSURER MEMBERS OF A HOLDING COMPANY GROUP
                                                                                        PART 1 – ORGANIZATIONAL CHART




                                                                                              NONE
Q12
Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                             SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES
The following supplemental reports are required to be filed as part of your statement filing. However, in the event that your company does not transact the type of
business for which the special report must be filed, your response of NO to the specific interrogatory will be accepted in lieu of filing a "NONE" report and a bar code
will be printed below. If the supplement is required of your company but is not being filed for whatever reason, enter SEE EXPLANATION and provide an
explanation following the interrogatory questions.
                                                                                                                                                                           Response
 1.    Will the Trusteed Surplus Statement be filed with the state of domicile and the NAIC with this statement?                                                             NO
 2.    Will the Medicare Part D Coverage Supplement be filed with the state of domicile and the NAIC with this statement?                                                    NO
 3.    Will the Reasonableness of Assumptions Certification required by Actuarial Guideline XXXV be filed with the state of domicile and electronically
       with the NAIC?                                                                                                                                                        NO
 4.    Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXV be filed with the state of domicile
       and electronically with the NAIC?                                                                                                                                     YES
 5.    Will the Reasonableness of Assumptions Certification for Implied Guaranteed Rate Method required by Actuarial Guideline XXXVI be filed with
       the state of domicile and electronically with the NAIC?                                                                                                               NO
 6.    Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXVI (Updated Average Market Value)
       be filed with the state of domicile and electronically with the NAIC?                                                                                                 NO
 7.    Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXVI (Updated Market Value) be filed
       with the state of domicile and electronically with the NAIC?                                                                                                          YES


Explanations:
 1.
 2.
 3.
 4.
 5.
 6.
 7.


Bar Code:



       *65528201049000001*                                                                                                 *65528201044700001*
       *65528201036500001*                                                                                                 *65528201044800001*
       *65528201044500001*




                                                                                                Q13
Statement as of March 31, 2010 of the               Life Insurance Company of the Southwest
                                                                                            Overflow Page for Write-Ins
Additional Write-ins for Assets:
                                                                                                                                                                                      Current Statement Date                                                                   4
                                                                                                                                                                   1                             2                                          3
                                                                                                                                                                                                                                  Net Admitted                       December 31,
                                                                                                                                                                                              Nonadmitted                              Assets                        Prior Year Net
                                                                                                                                                                 Assets                           Assets                           (Cols. 1 - 2)                    Admitted Assets
2404. Miscellaneous Receivables..........................................................................................................             ........................9,923    ........................9,923        ...............................0   ...................................
2405. Employee Travel Advance...........................................................................................................              ........................2,814    ........................2,814        ...............................0   ...................................
2406. Leasehold Improvements.............................................................................................................             ......................23,080     ......................23,080         ...............................0   ...................................
2407. Other assets.................................................................................................................................   ........................1,608   ...................................   ........................1,608       ........................1,608
2497. Summary of remaining write-ins for Line 24................................................................................                      ......................37,425     ......................35,817         ........................1,608       ........................1,608

Additional Write-ins for Liabilities:
                                                                                                                                                                                                                                 1                                   2
                                                                                                                                                                                                                            Current                        December 31
                                                                                                                                                                                                                     Statement Date                          Prior Year
2504. Guaranty fund........................................................................................................................................................................................ ..........................1,216,643 ..........................1,217,058
2597. Summary of remaining write-ins for Line 25.......................................................................................................................................... ..........................1,216,643 ..........................1,217,058
Additional Write-ins for Summary of Operations:
                                                                                                                                                                                       1                             2                             3
                                                                                                                                                                                  Current                         Prior               Prior Year Ended
                                                                                                                                                                              Year to Date                  Year to Date                 December 31
  08.304. Interest on funds withheld reinsurance assumed.......................................................................................................... .......................2,745 .......................4,132 .....................10,239
  08.305. Interest on reserve adjustments on reinsurance ceded................................................................................................. ......................(9,158) ......................(7,409) ....................(32,097)
  08.397. Summary of remaining write-ins for Line 8.3................................................................................................................. ......................(6,413) ......................(3,277) ....................(21,859)
Additional Write-ins for Summary of Operations:
                                                                                                                                                                                                      1                                 2                              3
                                                                                                                                                                                                 Current                             Prior                Prior Year Ended
                                                                                                                                                                                             Year to Date                      Year to Date                  December 31
   2704.        Interest on reserve adjustments on modified coinsurance............................................................................................ .....................12,845 .......................1,282 .....................10,783
   2705.        Miscellaneous deductions............................................................................................................................................. ................................. .........................(250) .................................
   2797.        Summary of remaining write-ins for Line 27.................................................................................................................. .....................12,845 .......................1,032 .....................10,783




                                                                                                                                            Q14
Statement as of March 31, 2010 of the              Life Insurance Company of the Southwest
                                                                                               SCHEDULE A - VERIFICATION
                                                                                                                                    Real Estate
                                                                                                                                                                                                                        1                                            2
                                                                                                                                                                                                                                                        Prior Year Ended
                                                                                                                                                                                                       Year to Date                                        December 31
 1.    Book/adjusted carrying value, December 31 of prior year....................................................................................................... ...............................................0 ...................................................
 2.    Cost of acquired:
       2.1 Actual cost at time of acquisition...................................................................................................................................... ................................................... ...................................................
       2.2 Additional investment made after acquisition................................................................................................................... ................................................... ...................................................
  3.   Current year change in encumbrances................................................................................................................................... ................................................... ...................................................
  4.   Total gain (loss) on disposals.................................................................................................................................................. ................................................... ...................................................
  5.   Deduct amounts received on disposals................................................................................................................................... ................................................... ...................................................
  6.   Total foreign exchange change in book/adjusted carrying value............................................................................................. ................................................... ...................................................
  7.   Deduct current year's other than temporary impairment recognized....................................................................................... ................................................... ...................................................
  8.   Deduct current year's depreciation.......................................................................................................................................... ................................................... ...................................................
  9.   Book/adjusted carrying value at end of current period (Lines 1+2+3+4-5+6-7-8)................................................................... ...............................................0 ...............................................0
 10.   Deduct total nonadmitted amounts.......................................................................................................................................... ................................................... ...................................................
 11.   Statement value at end of current period (Line 9 minus Line 10)............................................................................................ ...............................................0 ...............................................0




                                                                                               SCHEDULE B - VERIFICATION
                                                                                                                               Mortgage Loans
                                                                                                                                                                                                                        1                                                 2
                                                                                                                                                                                                                                                             Prior Year Ended
                                                                                                                                                                                                            Year to Date                                        December 31
 1.    Book value/recorded investment excluding accrued interest, December 31 of prior year....................................................... .............................837,074,317 .............................866,143,003
 2.    Cost of acquired:
       2.1 Actual cost at time of acquisition...................................................................................................................................... ................................................... ...............................11,700,000
       2.2 Additional investment made after acquisition................................................................................................................... ................................................... ...................................................
  3.   Capitalized deferred interest and other................................................................................................................................... ....................................219,750 ......................................67,371
  4.   Accrual of discount.................................................................................................................................................................. ................................................... ...................................................
  5.   Unrealized valuation increase (decrease)............................................................................................................................... ................................................... ...................................................
  6.   Total gain (loss) on disposals.................................................................................................................................................. ................................................... ...................................................
  7.   Deduct amounts received on disposals................................................................................................................................... .................................8,889,590 ...............................40,836,057
  8.   Deduct amortization of premium and mortgage interest points and commitment fees............................................................ ................................................... ...................................................
  9.   Total foreign exchange change in book value/recorded investment excluding accrued interest............................................. ................................................... ...................................................
 10.   Deduct current year's other than temporary impairment recognized....................................................................................... ................................................... ...................................................
 11.   Book value/recorded investment excluding accrued interest at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)......... .............................828,404,477 .............................837,074,317
 12.   Total valuation allowance........................................................................................................................................................ ................................(3,593,771) ................................(1,593,771)
 13.   Subtotal (Line 11 plus Line 12)................................................................................................................................................ .............................824,810,706 .............................835,480,546
 14.   Deduct total nonadmitted amounts.......................................................................................................................................... ................................................... ...................................................
 15.   Statement value at end of current period (Line 13 minus Line 14).......................................................................................... .............................824,810,706 .............................835,480,546




                                                                                            SCHEDULE BA - VERIFICATION
                                                                                                             Other Long-Term Invested Assets
                                                                                                                                                                                                                        1                                          2
                                                                                                                                                                                                                                                      Prior Year Ended
                                                                                                                                                                                                            Year to Date                                 December 31
 1.    Book/adjusted carrying value, December 31 of prior year....................................................................................................... ...............................21,089,886 ...............................20,703,792
 2.    Cost of acquired:
       2.1 Actual cost at time of acquisition...................................................................................................................................... ................................................... .................................4,395,750
       2.2 Additional investment made after acquisition................................................................................................................... ................................................... .................................1,179,306
  3.   Capitalized deferred interest and other................................................................................................................................... ................................................... ...................................................
  4.   Accrual of discount.................................................................................................................................................................. ........................................5,524 ......................................11,689
  5.   Unrealized valuation increase (decrease)............................................................................................................................... ...........................................575 .....................................(13,368)
  6.   Total gain (loss) on disposals.................................................................................................................................................. .............................................76 ...........................................671
  7.   Deduct amounts received on disposals................................................................................................................................... .....................................(63,086) .................................1,304,892
  8.   Deduct amortization of premium and depreciation.................................................................................................................. ....................................103,347 ....................................889,422
  9.   Total foreign exchange change in book/adjusted carrying value............................................................................................. ................................................... ...................................................
 10.   Deduct current year's other than temporary impairment recognized....................................................................................... ................................................... .................................2,993,640
 11.   Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)......................................................... ...............................21,055,800 ...............................21,089,886
 12.   Deduct total nonadmitted amounts.......................................................................................................................................... ................................................... ...................................................
 13.   Statement value at end of current period (Line 11 minus Line 12).......................................................................................... ...............................21,055,800 ...............................21,089,886




                                                                                               SCHEDULE D - VERIFICATION
                                                                                                                             Bonds and Stocks
                                                                                                                                                                                                                        1                                                      2
                                                                                                                                                                                                                                                                  Prior Year Ended
                                                                                                                                                                                                                Year to Date                                         December 31
  1.   Book/adjusted carrying value of bonds and stocks, December 31 of prior year......................................................................                                         ..........................6,247,973,142               ..........................5,219,256,404
  2.   Cost of bonds and stocks acquired.........................................................................................................................................                .............................835,104,351              ..........................3,652,427,405
  3.   Accrual of discount..................................................................................................................................................................     .................................3,259,380            ...............................11,011,942
  4.   Unrealized valuation increase (decrease)...............................................................................................................................                   ................................(6,402,046)           ...................................(851,957)
  5.   Total gain (loss) on disposals..................................................................................................................................................          ...............................14,991,494             ...............................15,249,718
  6.   Deduct consideration for bonds and stocks disposed of.........................................................................................................                            .............................606,785,073              ..........................2,610,051,824
  7.   Deduct amortization of premium..............................................................................................................................................              .................................2,218,237            .................................9,336,792
  8.   Total foreign exchange change in book/adjusted carrying value.............................................................................................                               ...................................................   ...................................................
  9.   Deduct current year's other than temporary impairment recognized.......................................................................................                                   ....................................251,250           ...............................29,731,754
 10.   Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)...............................................................                                            ..........................6,485,671,761               ..........................6,247,973,142
 11.   Deduct total nonadmitted amounts..........................................................................................................................................               ...................................................   ...................................................
 12.   Statement value at end of current period (Line 10 minus Line 11)..........................................................................................                                ..........................6,485,671,761               ..........................6,247,973,142



                                                                                                                                           QSI01
              Statement as of March 31, 2010 of the              Life Insurance Company of the Southwest
                                                                                                                                                                                                                        SCHEDULE D - PART 1B
                                                                                                                                                                                    Showing the Acquisitions, Dispositions and Non-Trading Activity
                                                                                                                                                                              During the Current Quarter for all Bonds and Preferred Stock by Rating Class
                                                                                                                                                             1                                               2                                             3                                          4                                             5                                           6                                             7                                             8
                                                                                                                                                   Book/Adjusted Carrying                              Acquisitions                                  Dispositions                             Non-Trading Activity                       Book/Adjusted Carrying                       Book/Adjusted Carrying                        Book/Adjusted Carrying                       Book/Adjusted Carrying
                                                                                                                                                      Value Beginning                                     During                                        During                                      During                                   Value End of                                 Value End of                                  Value End of                              Value December 31
                                                                                                                                                     of Current Quarter                               Current Quarter                               Current Quarter                            Current Quarter                                First Quarter                              Second Quarter                                 Third Quarter                                  Prior Year

                  BONDS

         1.       Class 1 (a)................................................................................................................ .....................3,400,935,256 .....................2,326,672,353 .....................2,132,990,013 ........................127,348,418 .....................3,721,966,014 ............................................. ............................................. .....................3,400,935,256


         2.       Class 2 (a)................................................................................................................ .....................2,501,189,703 ........................132,138,902 ..........................56,330,040 .........................(83,292,724) .....................2,493,705,843 ............................................. ............................................. .....................2,501,189,703


         3.       Class 3 (a)................................................................................................................ ........................317,281,890 ............................6,924,980 ...............................269,238 .........................(33,706,495) ........................290,231,137 ............................................. ............................................. ........................317,281,890


         4.       Class 4 (a)................................................................................................................ ........................105,499,321 ............................3,990,000 ...............................171,374 .........................(19,136,056) ..........................90,181,892 ............................................. ............................................. ........................105,499,321


         5.       Class 5 (a)................................................................................................................ ..........................30,164,036 ............................2,366,250 ............................................. ............................3,165,433 ..........................35,695,718 ............................................. ............................................. ..........................30,164,036


         6.       Class 6 (a)................................................................................................................ ..........................20,081,767 ............................................. ............................................. ...................................4,010 ..........................20,085,777 ............................................. ............................................. ..........................20,081,767
QSI02




         7.       Total Bonds.............................................................................................................. .....................6,375,151,973 .....................2,472,092,485 .....................2,189,760,665 ...........................(5,617,414) .....................6,651,866,381 ..........................................0 ..........................................0 .....................6,375,151,973


                  PREFERRED STOCK

         8.       Class 1..................................................................................................................... ............................9,021,775 ............................................. ............................................. ...........................(5,021,775) ............................4,000,000 ............................................. ............................................. ............................9,021,775


         9.       Class 2..................................................................................................................... ............................2,000,000 ............................................. ............................................. ............................5,021,775 ............................7,021,775 ............................................. ............................................. ............................2,000,000


         10. Class 3..................................................................................................................... ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. .............................................


         11. Class 4..................................................................................................................... ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. .............................................


         12. Class 5..................................................................................................................... ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. .............................................


         13. Class 6..................................................................................................................... ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. ............................................. .............................................


         14. Total Preferred Stock............................................................................................... ..........................11,021,775 ..........................................0 ..........................................0 ..........................................0 ..........................11,021,775 ..........................................0 ..........................................0 ..........................11,021,775


         15. Total Bonds and Preferred Stock............................................................................. .....................6,386,173,748 .....................2,472,092,485 .....................2,189,760,665 ...........................(5,617,414) .....................6,662,888,156 ..........................................0 ..........................................0 .....................6,386,173,748

        (a)       Book/Adjusted Carrying Value column for the end of the current reporting period includes the following amount of non-rated short-term and cash equivalent bonds by NAIC designation:
                  NAIC 1 $.....161,416,394; NAIC 2 $..........0; NAIC 3 $..........0; NAIC 4 $..........0; NAIC 5 $..........0; NAIC 6 $..........0.
Statement as of March 31, 2010 of the               Life Insurance Company of the Southwest
                                                                                                              SCHEDULE DA - PART 1
                                                                                                                              Short-Term Investments
                                                                                      1                                                 2                                            3                                            4                                           5
                                                                               Book/Adjusted                                                                                       Actual                                Interest Collected                       Paid for Accrued Interest
                                                                               Carrying Value                                    Par Value                                          Cost                                   Year To Date                                 Year To Date

   9199999. Totals...................................... ............................15,925,781 ................XXX....................... ...........................15,928,438 .......................................845 ..............................................




                                                                                             SCHEDULE DA - VERIFICATION
                                                                                                                        Short-Term Investments
                                                                                                                                                                                                                         1                                             2
                                                                                                                                                                                                                                                               Prior Year Ended
                                                                                                                                                                                                                Year to Date                                    December 31

 1. Book/adjusted carrying value, December 31 of prior year....................................................................................................... ...............................39,177,073 ...............................43,672,858

 2.     Cost of short-term investments acquired................................................................................................................................. ...............................40,500,000 .............................363,324,152

 3.     Accrual of discount.................................................................................................................................................................. ................................................... ...................................................

 4.     Unrealized valuation increase (decrease)............................................................................................................................... ................................................... ...................................................

 5.     Total gain (loss) on disposals.................................................................................................................................................. ................................................... ...................................................

 6.     Deduct consideration received on disposals........................................................................................................................... ...............................63,750,000 .............................367,815,822

 7. Deduct amortization of premium.............................................................................................................................................. ........................................1,292 ........................................4,115

 8. Total foreign exchange change in book/adjusted carrying value............................................................................................. ................................................... ...................................................

 9.     Deduct current year's other than temporary impairment recognized....................................................................................... ................................................... ...................................................

 10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)............................................................... ...............................15,925,781 ...............................39,177,073

 11. Deduct total nonadmitted amounts.......................................................................................................................................... ................................................... ...................................................

 12. Statement value at end of current period (Line 10 minus Line 11).......................................................................................... ...............................15,925,781 ...............................39,177,073




                                                                                                                                            QSI03
Statement as of March 31, 2010 of the                Life Insurance Company of the Southwest
                                                                              SCHEDULE DB - PART A - VERIFICATION
                                                                                            Options, Caps, Floors, Collars, Swaps and Forwards
 1.      Book/Adjusted Carrying Value, December 31, prior year (Line 8, prior year).......................................................................................................................................                                        226,281,014

 2.      Cost paid (consideration received) on additions...................................................................................................................................................................................                        32,820,782

 3.     Unrealized valuation increase (decrease).............................................................................................................................................................................................                      35,732,554

 4.      Total gain (loss) on termination recognized..........................................................................................................................................................................................

 5.     Considerations received (paid) on terminations....................................................................................................................................................................................                         69,577,793

 6.      Amortization..........................................................................................................................................................................................................................................       (21,136)

 7.     Adjustment to the Book/Adjusted Carrying Value of hedge item...........................................................................................................................................................

 8.      Total foreign exchange change in Book/Adjusted Carrying Value........................................................................................................................................................

 9.     Book/Adjusted Carrying Value, December 31, current year (Lines 1 + 2 + 3 + 4 - 5 + 6 + 7 + 8).........................................................................................................                                                    225,235,421

 10. Deduct nonadmitted assets...................................................................................................................................................................................................................

 11. Statement value at end of current period (Line 9 minus Line 10)..........................................................................................................................................................                                    225,235,421




                                                                              SCHEDULE DB - PART B - VERIFICATION
                                                                                                                                Futures Contracts
 1.     Book/Adjusted Carrying Value, December 31, prior year......................................................................................................................................................................                                 3,895,417

 2.      Net cash deposits (Section 1, Broker Name/Net Cash Deposits footnote)...........................................................................................................................................                                           5,817,508

 3.1 Change in variation margin on open contracts.........................................................................................................................................                                                    (126,013)

 3.2 Add:

                  Change in adjustment to basis of hedged item:

        3.21 Section 1, Column 16, current year to date minus................................

        3.22 Section 1, Column 16, prior year...........................................................                                                                                                       0

                  Change in amount recognized:

        3.23 Section 1, Column 15, current year to date minus................................                                                            365,775

        3.24 Section 1, Column 15, prior year...........................................................                                                 491,788                                   (126,013)                                  (126,013)

 3.3 Subtotal (line 3.1 minus Line 3.2)..........................................................................................................................................................................................................                           0

 4.1 Variation margin on terminated contracts during the year...........................................................................                                                         3,895,417

 4.2 Less:

        4.21 Amount used to adjust basis of hedged item.........................................

        4.22 Amount recognized................................................................................                                                                                                 0

 4.3 Subtotal (line 4.1 minus Line 4.2)..........................................................................................................................................................................................................                   3,895,417

 5.     Dispositions gains (losses) on contracts terminated in prior year:

        5.1       Recognized.................................................................................................................................................................................................................................

        5.2       Used to adjust basis of hedged items.........................................................................................................................................................................................

 6.      Book/Adjusted Carrying Value at end of current period (Lines 1 + 2 + 3.3 - 4.3 - 5.1 - 5.2).................................................................................................................                                               5,817,508

 7.     Deduct nonadmitted assets...................................................................................................................................................................................................................

 8.     Statement value at end of current period (Line 6 minus Line 7)............................................................................................................................................................                                  5,817,508




                                                                                                                                               QSI04
        Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                                                                                      SCHEDULE DB - PART C - SECTION 1
                                                                                                                Replicated (Synthetic) Assets Open as of Current Statement Date
                                                         Replicated (Synthetic) Asset                                                                                                     Components of the Replicated (Synthetic) Asset
            1                              2                 3             4                 5          6         7           8                Derivative Instruments Open                                                          Cash Instrument(s) Held
                                                          NAIC                                                                               9                         10          11            12                            13                         14           15          16
                                                        Designation                                                                                                                                                                                  NAIC Desig.
                                                         or Other       Notional      Book/Adjusted     Fair   Effective   Maturity                              Book/Adjusted     Fair                                                                or Other  Book/Adjusted    Fair
        Number                       Description        Description     Amount        Carrying Value   Value     Date       Date         Description             Carrying Value   Value         CUSIP                      Description               Description Carrying Value   Value
QSI05
          Statement as of March 31, 2010 of the              Life Insurance Company of the Southwest
                                                                                                                                                                                          SCHEDULE DB - PART C - SECTION 2
                                                                                                                                                                                               Reconciliation of Replicated (Synthetic) Assets Open
                                                                                                                                   First Quarter                                                              Second Quarter                                                                Third Quarter                                                              Fourth Quarter                                                               Year-To-Date
                                                                                                                      1                                    2                                      3                                    4                                       5                                   6                                       7                                    8                                       9                                   10
                                                                                                                   Number                           Total Replicated                           Number                           Total Replicated                            Number                          Total Replicated                            Number                           Total Replicated                            Number                          Total Replicated
                                                                                                                      of                           (Synthetic) Assets                             of                           (Synthetic) Assets                              of                          (Synthetic) Assets                              of                           (Synthetic) Assets                              of                          (Synthetic) Assets
                                                                                                                   Positions                        Statement Value                            Positions                        Statement Value                             Positions                       Statement Value                             Positions                        Statement Value                             Positions                       Statement Value

        1. Beginning Inventory................................................................ ....................................... ....................................... ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0

        2. Add: Opened or Acquired Transactions............................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................0 ....................................0

        3. Add: Increases in Replicated Asset
                Statement Value............................................................ ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................0

        4. Less: Closed or Disposed of Transactions............................. ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................0 ....................................0

        5. Less: Positions Disposed of for
                Failing Effectiveness Criteria......................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................0 ....................................0

        6. Less: Decreases in Replicated (Synthetic)
                Asset Statement Value.................................................. ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................... ..............XXX.................. ....................................0

        7. Ending inventory..................................................................... ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0 ....................................0
QSI06
Statement as of March 31, 2010 of the               Life Insurance Company of the Southwest
                                                                                               SCHEDULE DB - VERIFICATION
                             Verification of Book/Adjusted Carrying Value, Fair Value and Potential Exposure of all Open Derivative Contracts
                                                                                                                                                                                                                        Book/Adjusted Carrying Value Check
 1.     Part A, Section 1, Column 14...................................................................................................................................................................                              225,235,421

 2.      Part B, Section 1, Net Broker Cash Deposit Write-in (Footnote)................................................................                                                       5,817,508

 3.      Part B, Section 1, Column 17.....................................................................................................................

 4.      Subtotal (Line 2 minus Line 3).................................................................................................................................................................                                5,817,508

 5.     Total (Line 1 plus Line 4)...........................................................................................................................................................................................................................   231,052,929

 6.      Part D, Column 5.....................................................................................................................................................................................                       571,384,184

 7.      Part D, Column 6.....................................................................................................................................................................................                     (340,331,255)

 8.      Total (Line 5 minus Line 6 minus Line 7)..................................................................................................................................................................................................                      0

                                                                                                                                                                                                                                           Fair Value Check
 9.     Part A, Section 1, Column 16...................................................................................................................................................................                              225,235,421

 10. Part B, Section 1, Column 2 (Number of Contracts) multiplied by Column 12 (Reporting Date Price)....................................................                                                                               5,817,508

 11. Total (Line 9 plus Line 10).........................................................................................................................................................................................................................       231,052,929

 12. Part D, Column 8.....................................................................................................................................................................................                           571,384,184

 13. Part D, Column 9.....................................................................................................................................................................................                         (340,331,255)

 14. Total (Line 11 minus Line 12 minus Line 13)............................................................................................................................................................................................                             (0)

                                                                                                                                                                                                                                   Potential Exposure Check
 15. Part A, Section 1, Column 21...................................................................................................................................................................

 16. Part B, Section 1, Column 18...................................................................................................................................................................                                    2,216,000

 17. Part D, Column 11...................................................................................................................................................................................                               2,216,000

 18. Total (Line 15 plus Line 16 minus Line 17)...............................................................................................................................................................................................                           0




                                                                                                                                           QSI07
Statement as of March 31, 2010 of the               Life Insurance Company of the Southwest
                                                                                                    SCHEDULE E- VERIFICATION
                                                                                                                                Cash Equivalents
                                                                                                                                                                                                            1                                                       2
                                                                                                                                                                                                                                                            Prior Year Ended
                                                                                                                                                                                                   Year to Date                                              December 31


   1. Book/adjusted carrying value, December 31 of prior year..................................................................................... ..........................................99,023,534 .............................................................


   2. Cost of cash equivalents acquired......................................................................................................................... .....................................1,596,488,134 .....................................4,215,736,956


   3. Accrual of discount................................................................................................................................................. ............................................................. .............................................................


   4. Unrealized valuation increase (decrease).............................................................................................................. ............................................................. .............................................................


   5. Total gain (loss) on disposals................................................................................................................................. ............................................................. .............................................................


   6. Deduct consideration received on disposals.......................................................................................................... .....................................1,534,217,086 .....................................4,116,713,422


   7. Deduct amortization of premium............................................................................................................................ ...................................................3,969 .............................................................


   8. Total foreign exchange change in book/ adjusted carrying value.......................................................................... ............................................................. .............................................................


   9. Deduct current year's other than temporary impairment recognized...................................................................... ............................................................. .............................................................


 10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9).............................................. ........................................161,290,613 ..........................................99,023,534


 11. Deduct total nonadmitted amounts......................................................................................................................... ............................................................. .............................................................


 12. Statement value at end of current period (Line 10 minus Line 11)......................................................................... ........................................161,290,613 ..........................................99,023,534




                                                                                                                                           QSI08
       Statement as of March 31, 2010 of the       Life Insurance Company of the Southwest
                                                                                                                                                     SCHEDULE A - PART 2
                                                                                                                  Showing all Real Estate ACQUIRED AND ADDITIONS MADE During the Current Quarter
                                               1                                                      Location                       4                                                   5                                                            6                                 7                               8                                9
                                                                                                2                      3                                                                                                                                                                                                                             Additional
                                                                                                                                                                                                                                                  Actual Cost                                              Book/Adjusted Carrying                   Investment
                                                                                                                                    Date                                                                                                           at Time of                   Amount of                       Value Less                          Made After
                                    Description of Property                                    City                   State       Acquired                                         Name of Vendor                                                 Acquisition                 Encumbrances                    Encumbrances                          Acquisition
QE01




                                                                                                                                                     SCHEDULE A - PART 3
                                                                                          Showing all Real Estate DISPOSED During the Quarter, Including Payments During the Final Year on "Sales Under Contract "
                           1                                  Location            4                     5                     6                7               8                   Change in Book/Adjusted Carrying Value Less Encumbrances                     14            15                16            17                18             19                 20
                                                              2           3                                                               Expended for                         9              10              11               12            13
                                                                                                                                           Additions,                                       Current
                                                                                                                                           Permanent     Book/Adjusted                       Year's                                         Total         Book/Adjusted                                                                   Gross Income        Taxes,
                                                                                                                                         Improvements    Carrying Value                  Other Than         Current           Total        Foreign          Carrying                          Foreign                                         Earned         Repairs,
                                                                                                                                          and Changes         Less          Current       Temporary         Year's         Change in      Exchange         Value Less      Amounts           Exchange      Realized            Total       Less Interest       and
                                                                               Disposal                                                        in        Encumbrances       Year's        Impairment       Change in        B./A.C.V.     Change in       Encumbrances     Received         Gain (Loss)   Gain (Loss)       Gain (Loss)     Incurred on     Expenses
                 Description of Property                      City       State   Date         Name of Purchaser        Actual Cost       Encumbrances      Prior Year     Depreciation   Recognized Encumbrances (11 - 9 - 10)            B./A.C.V.        on Disposal    During Year       on Disposal   on Disposal       on Disposal   Encumbrances       Incurred
           Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                               SCHEDULE B - PART 2
                                                                                                                                                                                Showing all Mortgage Loans ACQUIRED AND ADDITIONS MADE During the Current Quarter
                                     1                                                                                                         Location                                                                                             4                            5                             6                                                    7                                                                         8                                                                           9
                                                                                                                                       2                                                                             3                                                                                                                                            Actual                                                                  Additional
                                                                                                                                                                                                                                                                                                                                                                   Cost                                                                  Investment                                                                 Value of
                                                                                                                                                                                                                                                  Loan                       Date                         Rate of                                                at Time                                                                 Made After                                                                 Land and
                             Loan Number                                                                                             City                                                                         State                           Type                      Acquired                      Interest                                            of Acquisition                                                             Acquisition                                                                Buildings




                                                                                                                                                                                                                                                      SCHEDULE B - PART 3
                                                                                                                                                                                         Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                        1                                                Location                                     4                 5                     6                          7                                                                            Change in Book Value/Recorded Investment                                                                                            14                                   15                              16                            17                              18
                                                                     2                                 3                                                                                                                 8                              9                      10                  11                                           12                         13                         Book Value/
                                                                                                                                                                                 Book Value/                                                                             Current Year's                                                                                   Total                        Recorded
                                                                                                                                                                                   Recorded                        Unrealized                    Current                  Other Than          Capitalized                                   Total                        Foreign                      Investment                                                           Foreign
                                                                                                                                                                                  Investment                        Valuation                    Year's                   Temporary             Deferred                                  Change in                     Exchange                       Excluding                                                          Exchange                      Realized                          Total
                                                                                                                    Loan            Date                 Disposal             Excluding Accrued                     Increase                  (Amortization)/             Impairment            Interest                                  Book Value                   Change in                    Accrued Interest                                                     Gain (Loss)                   Gain (Loss)                     Gain (Loss)
               Loan Number                                          City                             State          Type           Acquired                Date               Interest Prior Year                  (Decrease)                   Accretion                 Recognized           and Other                                 (8+9-10+11)                   Book Value                     on Disposal                       Consideration                    on Disposal                   on Disposal                     on Disposal


       Mortgages Closed by Repayment
       0210477........................... SCOTTSDALE.................................. AZ......... .............. 01/31/2007.... 01/15/2010.... ...................2,990,901 ............................... ............................... ............................... ............................... ............................0 ............................... ...................2,990,901 ...................2,990,901 ............................... ............................... ................................0
       0199999. Total - Mortgages Closed by Repayment..................... ............................................................................... ...................2,990,901 ............................0 ............................0 ............................0 ............................0 ............................0 ............................0 ...................2,990,901 ...................2,990,901 ............................0 ............................0                              ................................0
       Mortgages With Partial Repayments
       0210056........................... MIDLAND......................................... TX......... .............. 03/10/1987.... ..................... ......................121,221 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................3,396 ............................... ............................... ................................0
       0210086........................... HOUSTON........................................ TX......... .............. 01/01/1989.... ..................... ........................54,249 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................2,134 ............................... ............................... ................................0
QE02




       0210214........................... EL PASO.......................................... TX......... .............. 08/18/1997.... ..................... ......................197,648 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,429 ............................... ............................... ................................0
       0210238........................... CRESTVIEW HILLS.......................... KY......... .............. 01/21/1998.... ..................... ...................2,063,956 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................46,215 ............................... ............................... ................................0
       0210239........................... TOWSON......................................... MD........ .............. 02/25/1998.... ..................... ...................1,001,025 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................68,825 ............................... ............................... ................................0
       0210240........................... PITTSBURGH................................... PA......... .............. 02/20/1998.... ..................... ......................463,572 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,083 ............................... ............................... ................................0
       0210248........................... DALLAS............................................ TX......... .............. 02/04/2005.... ..................... ...................3,281,906 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................36,189 ............................... ............................... ................................0
       0210258........................... EL PASO.......................................... TX......... .............. 08/18/1998.... ..................... ......................435,175 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................25,371 ............................... ............................... ................................0
       0210261........................... NORCROSS..................................... GA......... .............. 08/18/1998.... ..................... ......................923,201 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,992 ............................... ............................... ................................0
       0210272........................... LEXINGTON..................................... KY......... .............. 10/28/1998.... ..................... ......................571,549 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................31,879 ............................... ............................... ................................0
       0210274........................... GAFFNEY......................................... SC......... .............. 03/10/1999.... ..................... ......................597,002 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................29,914 ............................... ............................... ................................0
       0210285........................... DALLAS............................................ TX......... .............. 07/01/1999.... ..................... ...................2,205,970 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,032 ............................... ............................... ................................0
       0210292........................... VIRGINIA BEACH............................. VA......... .............. 02/04/2005.... ..................... ...................2,415,115 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,722 ............................... ............................... ................................0
       0210293........................... FINDLAY.......................................... OH......... .............. 03/28/2000.... ..................... ...................2,951,224 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,168 ............................... ............................... ................................0
       0210294........................... COON RAPIDS................................. MN........ .............. 06/12/2000.... ..................... ...................3,147,514 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................45,802 ............................... ............................... ................................0
       0210298........................... ASTON............................................. PA......... .............. 06/15/2000.... ..................... ...................4,335,486 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,307 ............................... ............................... ................................0
       0210299........................... ASTON............................................. PA......... .............. 06/15/2000.... ..................... ...................1,829,922 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,218 ............................... ............................... ................................0
       0210304........................... AUSTIN............................................ TX......... .............. 08/09/2000.... ..................... ...................5,596,003 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................43,240 ............................... ............................... ................................0
       0210307........................... CHELMSFORD................................. MA......... .............. 10/12/2000.... ..................... ...................2,230,088 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,744 ............................... ............................... ................................0
       0210308........................... MT PLEASANT................................. SC......... .............. 10/30/2000.... ..................... ...................4,289,244 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................31,941 ............................... ............................... ................................0
       0210311........................... ROCKVILLE...................................... MD........ .............. 04/17/2001.... ..................... ...................3,949,619 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................26,422 ............................... ............................... ................................0
       0210312........................... FINDLAY.......................................... OH......... .............. 04/19/2001.... ..................... ...................1,365,203 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................88,065 ............................... ............................... ................................0
       0210313........................... CHARLOTTE.................................... NC......... .............. 06/08/2001.... ..................... ...................1,146,275 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................20,504 ............................... ............................... ................................0
       0210315........................... NORTHLAKE.................................... IL........... .............. 09/17/2001.... ..................... ...................2,336,864 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,932 ............................... ............................... ................................0
       0210316........................... DALLAS............................................ TX......... .............. 07/26/2001.... ..................... ...................2,085,431 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,169 ............................... ............................... ................................0
       0210317........................... DURHAM.......................................... NC......... .............. 02/04/2005.... ..................... ......................657,558 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,434 ............................... ............................... ................................0
             Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                        SCHEDULE B - PART 3
                                                                                                                                                                                           Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                          1                                                Location                                     4                 5                     6                          7                                                                            Change in Book Value/Recorded Investment                                                                                            14                                   15                              16                            17                              18
                                                                       2                                 3                                                                                                                 8                             9                       10                  11                                           12                         13                         Book Value/
                                                                                                                                                                                   Book Value/                                                                             Current Year's                                                                                   Total                        Recorded
                                                                                                                                                                                     Recorded                        Unrealized                    Current                  Other Than          Capitalized                                   Total                        Foreign                      Investment                                                           Foreign
                                                                                                                                                                                    Investment                        Valuation                    Year's                   Temporary             Deferred                                  Change in                     Exchange                       Excluding                                                          Exchange                      Realized                          Total
                                                                                                                      Loan            Date                 Disposal             Excluding Accrued                     Increase                  (Amortization)/             Impairment            Interest                                  Book Value                   Change in                    Accrued Interest                                                     Gain (Loss)                   Gain (Loss)                     Gain (Loss)
                 Loan Number                                          City                             State          Type           Acquired                Date               Interest Prior Year                  (Decrease)                   Accretion                 Recognized           and Other                                 (8+9-10+11)                   Book Value                     on Disposal                       Consideration                    on Disposal                   on Disposal                     on Disposal

         0210318........................... STAFFORD...................................... TX......... .............. 08/30/2001.... ..................... ...................4,357,344 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................26,465 ............................... ............................... ................................0
         0210321........................... SIMI VALLEY.................................... CA......... .............. 02/04/2005.... ..................... ...................3,597,716 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................59,661 ............................... ............................... ................................0
         0210324........................... INWOOD.......................................... WV........ .............. 02/13/2003.... ..................... ...................2,339,042 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,943 ............................... ............................... ................................0
         0210326........................... NORFOLK........................................ VA......... .............. 12/18/2001.... ..................... ...................2,022,533 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................25,774 ............................... ............................... ................................0
         0210327........................... GREENSBORO................................ NC......... .............. 04/11/2002.... ..................... ...................1,905,933 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,423 ............................... ............................... ................................0
         0210330........................... BETHLEHAM.................................... PA......... .............. 06/27/2002.... ..................... ...................2,259,044 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................5,049 ............................... ............................... ................................0
         0210332........................... DENTON.......................................... TX......... .............. 07/23/2002.... ..................... ...................4,719,155 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................41,349 ............................... ............................... ................................0
         0210333........................... MYRTLE BEACH.............................. SC......... .............. 09/09/2003.... ..................... ...................3,944,337 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,087 ............................... ............................... ................................0
         0210337........................... MEADVILLE...................................... PA......... .............. 12/05/2002.... ..................... ...................5,058,137 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................20,527 ............................... ............................... ................................0
         0210338........................... GREENSBORO................................ NC......... .............. 11/14/2002.... ..................... ...................1,921,421 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,201 ............................... ............................... ................................0
         0210341........................... CHARLOTTE.................................... NC......... .............. 11/26/2002.... ..................... ...................6,329,137 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................30,048 ............................... ............................... ................................0
         0210342........................... PORT ARTHUR................................ TX......... .............. 12/20/2002.... ..................... ...................1,980,470 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................46,482 ............................... ............................... ................................0
         0210343........................... SAN ANTONIO................................. TX......... .............. 12/30/2002.... ..................... ...................1,510,618 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,001 ............................... ............................... ................................0
         0210344........................... GREENSBORO................................ NC......... .............. 11/07/2002.... ..................... ...................5,909,782 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................71,085 ............................... ............................... ................................0
QE02.1




         0210347........................... ANKENY........................................... IA........... .............. 01/15/2003.... ..................... ...................4,018,697 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,839 ............................... ............................... ................................0
         0210349........................... SAN DIEGO...................................... CA......... .............. 04/01/2003.... ..................... ...................5,165,973 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................38,400 ............................... ............................... ................................0
         0210351........................... FOREST PARK................................. OH......... .............. 07/02/2003.... ..................... ...................2,372,579 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................11,740 ............................... ............................... ................................0
         0210353........................... EVERETT......................................... WA........ .............. 08/21/2003.... ..................... ...................3,432,867 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................24,981 ............................... ............................... ................................0
         0210354........................... WOODBURY.................................... MN........ .............. 08/28/2003.... ..................... ...................3,406,842 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................40,582 ............................... ............................... ................................0
         0210356........................... SAN ANTONIO................................. TX......... .............. 01/22/2004.... ..................... ...................3,432,039 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................37,254 ............................... ............................... ................................0
         0210358........................... SALT LAKE CITY.............................. UT......... .............. 10/06/2003.... ..................... ...................6,037,815 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................42,431 ............................... ............................... ................................0
         0210361........................... EDMONDS....................................... WA........ .............. 12/29/2003.... ..................... ...................2,208,249 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................14,920 ............................... ............................... ................................0
         0210362........................... STATESBORO................................. GA......... .............. 12/23/2003.... ..................... ...................6,305,137 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................35,026 ............................... ............................... ................................0
         0210363........................... HOUSTON........................................ TX......... .............. 03/10/2004.... ..................... ...................1,914,716 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,504 ............................... ............................... ................................0
         0210364........................... EL PASO.......................................... TX......... .............. 12/24/2003.... ..................... ...................3,436,290 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,612 ............................... ............................... ................................0
         0210366........................... MONROE TOWNSHIP...................... NJ.......... .............. 02/11/2004.... ..................... ...................2,874,182 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,568 ............................... ............................... ................................0
         0210367........................... CHARLOTTE.................................... NC......... .............. 04/16/2004.... ..................... ...................2,682,916 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,204 ............................... ............................... ................................0
         0210368........................... AMARILLO........................................ TX......... .............. 06/04/2004.... ..................... ...................6,755,197 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................34,844 ............................... ............................... ................................0
         0210369........................... PUYALLUP....................................... WA........ .............. 04/01/2004.... ..................... ...................5,599,276 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................60,107 ............................... ............................... ................................0
         0210370........................... AURORA.......................................... IL........... .............. 03/23/2004.... ..................... ...................3,045,543 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................14,155 ............................... ............................... ................................0
         0210372........................... GREEN TOWNSHIP......................... OH......... .............. 03/15/2004.... ..................... ...................3,695,109 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................20,117 ............................... ............................... ................................0
         0210374........................... IRVINE............................................. CA......... .............. 04/29/2004.... ..................... ...................3,608,055 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................22,730 ............................... ............................... ................................0
         0210375........................... BURIEN............................................ WA........ .............. 05/13/2004.... ..................... ...................3,441,471 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................27,480 ............................... ............................... ................................0
         0210376........................... TOTOWA.......................................... NJ.......... .............. 04/19/2004.... ..................... ...................4,598,929 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................52,472 ............................... ............................... ................................0
         0210377........................... POMPANO BEACH.......................... FL.......... .............. 05/13/2004.... ..................... ...................2,708,188 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,451 ............................... ............................... ................................0
         0210378........................... CINCINNATI..................................... OH......... .............. 07/08/2004.... ..................... ...................2,392,066 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,991 ............................... ............................... ................................0
         0210379........................... ROCHESTER................................... MN........ .............. 08/25/2004.... ..................... ...................3,853,004 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................34,786 ............................... ............................... ................................0
         0210380........................... WEST CHESTER............................. OH......... .............. 08/20/2004.... ..................... ...................3,128,307 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,746 ............................... ............................... ................................0
             Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                         SCHEDULE B - PART 3
                                                                                                                                                                                            Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                          1                                                 Location                                     4                 5                    6                           7                                                                            Change in Book Value/Recorded Investment                                                                                            14                                    15                              16                            17                              18
                                                                        2                                 3                                                                                                                 8                             9                       10                  11                                           12                          13                        Book Value/
                                                                                                                                                                                   Book Value/                                                                              Current Year's                                                                                    Total                       Recorded
                                                                                                                                                                                     Recorded                        Unrealized                     Current                  Other Than          Capitalized                                   Total                         Foreign                     Investment                                                            Foreign
                                                                                                                                                                                    Investment                        Valuation                     Year's                   Temporary             Deferred                                  Change in                      Exchange                      Excluding                                                           Exchange                      Realized                          Total
                                                                                                                      Loan             Date                Disposal             Excluding Accrued                     Increase                   (Amortization)/             Impairment            Interest                                  Book Value                    Change in                   Accrued Interest                                                      Gain (Loss)                   Gain (Loss)                     Gain (Loss)
                 Loan Number                                          City                             State          Type            Acquired               Date               Interest Prior Year                  (Decrease)                    Accretion                 Recognized           and Other                                 (8+9-10+11)                    Book Value                    on Disposal                       Consideration                     on Disposal                   on Disposal                     on Disposal

         0210381........................... PHOENIX......................................... AZ......... .............. 07/29/2004.... ..................... ...................4,151,713 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................27,561 ............................... ............................... ................................0
         0210382........................... CAPE CANAVERAL.......................... FL.......... .............. 07/20/2004.... ..................... ...................2,620,038 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................27,915 ............................... ............................... ................................0
         0210383........................... DES MOINES................................... IA........... .............. 10/22/2004.... ..................... ...................6,041,847 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................59,579 ............................... ............................... ................................0
         0210384........................... CINCINNATI..................................... OH......... .............. 11/05/2004.... ..................... ...................1,831,250 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,431 ............................... ............................... ................................0
         0210385........................... LYNNWOOD..................................... WA........ .............. 08/05/2004.... ..................... ...................5,255,088 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................33,262 ............................... ............................... ................................0
         0210386........................... SAN ANTONIO................................. TX......... .............. 10/29/2004.... ..................... ...................2,868,243 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,522 ............................... ............................... ................................0
         0210387........................... CINCINNATI..................................... OH......... .............. 09/28/2004.... ..................... ...................5,980,388 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ......................111,917 ............................... ............................... ................................0
         0210388........................... CINCINNATI..................................... OH......... .............. 02/08/2005.... ..................... ...................7,786,569 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................49,029 ............................... ............................... ................................0
         0210389........................... NEWARK.......................................... DE......... .............. 02/10/2005.... ..................... ...................3,083,955 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,162 ............................... ............................... ................................0
         0210391........................... CATAWBA........................................ NC......... .............. 12/28/2004.... ..................... ...................3,852,462 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................52,806 ............................... ............................... ................................0
         0210393........................... SPOKANE........................................ WA........ .............. 08/29/2005.... ..................... ...................3,851,130 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,278 ............................... ............................... ................................0
         0210394........................... BLUE ASH........................................ OH......... .............. 12/16/2004.... ..................... ...................6,249,007 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................28,755 ............................... ............................... ................................0
         0210395........................... NEWARK.......................................... DE......... .............. 02/10/2005.... ..................... ...................2,242,877 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,572 ............................... ............................... ................................0
         0210396........................... CHARLOTTE.................................... NC......... .............. 02/17/2005.... ..................... ...................4,692,319 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................30,767 ............................... ............................... ................................0
QE02.2




         0210397........................... SPOKANE........................................ WA........ .............. 09/16/2005.... ..................... ...................4,233,118 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,291 ............................... ............................... ................................0
         0210398........................... BOISE............................................... ID.......... .............. 12/29/2004.... ..................... ...................3,875,537 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,164 ............................... ............................... ................................0
         0210399........................... AUSTIN............................................ TX......... .............. 04/11/2005.... ..................... ...................3,807,337 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................24,561 ............................... ............................... ................................0
         0210400........................... DRAPER........................................... UT......... .............. 01/14/2005.... ..................... ...................6,960,649 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................39,270 ............................... ............................... ................................0
         0210401........................... BLUE ASH........................................ OH......... .............. 04/04/2005.... ..................... ...................3,488,720 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................22,313 ............................... ............................... ................................0
         0210402........................... FARMINGTON.................................. CT......... .............. 05/18/2005.... ..................... ...................2,212,890 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,585 ............................... ............................... ................................0
         0210403........................... CLEAR LAKE.................................... TX......... .............. 03/24/2005.... ..................... ...................2,308,819 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................11,772 ............................... ............................... ................................0
         0210407........................... KNOXVILLE...................................... TN......... .............. 06/10/2005.... ..................... ...................3,901,532 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................38,702 ............................... ............................... ................................0
         0210408........................... FRANKLIN TOWNSHIP.................... NJ.......... .............. 03/30/2005.... ..................... ...................2,440,669 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,949 ............................... ............................... ................................0
         0210409........................... OVIEDO............................................ FL.......... .............. 09/23/2005.... ..................... ...................3,064,191 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................29,666 ............................... ............................... ................................0
         0210410........................... WOODRIDGE................................... IL........... .............. 05/13/2005.... ..................... ...................4,343,521 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................29,355 ............................... ............................... ................................0
         0210411........................... ABERDEEN...................................... MD........ .............. 09/28/2005.... ..................... ...................4,036,418 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................22,614 ............................... ............................... ................................0
         0210412........................... MONROE......................................... WA........ .............. 10/11/2005.... ..................... ...................8,469,839 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................65,939 ............................... ............................... ................................0
         0210413........................... MELBOURNE................................... FL.......... .............. 07/14/2005.... ..................... ...................3,089,648 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,296 ............................... ............................... ................................0
         0210414........................... COLORADO SPRINGS..................... CO......... .............. 07/21/2005.... ..................... ...................2,163,139 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................35,718 ............................... ............................... ................................0
         0210415........................... AURORA.......................................... CO......... .............. 05/20/2005.... ..................... ...................9,319,913 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................48,872 ............................... ............................... ................................0
         0210416........................... FORT MILL....................................... SC......... .............. 09/16/2005.... ..................... ...................2,734,668 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,894 ............................... ............................... ................................0
         0210417........................... FORT MILL....................................... SC......... .............. 09/16/2005.... ..................... ...................2,780,246 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,192 ............................... ............................... ................................0
         0210418........................... SUPERIOR....................................... CO......... .............. 09/08/2005.... ..................... ...................4,160,335 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................22,633 ............................... ............................... ................................0
         0210419........................... IRVINE............................................. CA......... .............. 11/03/2005.... ..................... ...................6,118,226 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................26,339 ............................... ............................... ................................0
         0210421........................... CENTERVILLE................................. OH......... .............. 02/28/2006.... ..................... ...................4,926,968 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................79,693 ............................... ............................... ................................0
         0210422........................... WOODINVILLE................................. WA........ .............. 10/04/2005.... ..................... ...................6,385,605 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................28,030 ............................... ............................... ................................0
         0210424........................... CINNAMINSON................................ NJ.......... .............. 11/18/2005.... ..................... ...................2,107,651 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,476 ............................... ............................... ................................0
             Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                        SCHEDULE B - PART 3
                                                                                                                                                                                           Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                          1                                                Location                                     4                 5                     6                          7                                                                            Change in Book Value/Recorded Investment                                                                                            14                                   15                              16                            17                              18
                                                                       2                                 3                                                                                                                 8                             9                       10                  11                                           12                         13                         Book Value/
                                                                                                                                                                                   Book Value/                                                                             Current Year's                                                                                   Total                        Recorded
                                                                                                                                                                                     Recorded                        Unrealized                    Current                  Other Than          Capitalized                                   Total                        Foreign                      Investment                                                           Foreign
                                                                                                                                                                                    Investment                        Valuation                    Year's                   Temporary             Deferred                                  Change in                     Exchange                       Excluding                                                          Exchange                      Realized                          Total
                                                                                                                      Loan            Date                 Disposal             Excluding Accrued                     Increase                  (Amortization)/             Impairment            Interest                                  Book Value                   Change in                    Accrued Interest                                                     Gain (Loss)                   Gain (Loss)                     Gain (Loss)
                 Loan Number                                          City                             State          Type           Acquired                Date               Interest Prior Year                  (Decrease)                   Accretion                 Recognized           and Other                                 (8+9-10+11)                   Book Value                     on Disposal                       Consideration                    on Disposal                   on Disposal                     on Disposal

         0210425........................... SCOTTSDALE.................................. AZ......... .............. 12/14/2005.... ..................... ...................4,401,250 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................28,065 ............................... ............................... ................................0
         0210426........................... PLYMOUTH...................................... MN........ .............. 11/01/2005.... ..................... ...................2,503,304 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................41,342 ............................... ............................... ................................0
         0210427........................... WEST DUNDEE............................... IL........... .............. 11/02/2005.... ..................... ...................1,872,014 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,214 ............................... ............................... ................................0
         0210428........................... ISSAQUAH....................................... WA........ .............. 11/02/2005.... ..................... ...................1,730,518 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,930 ............................... ............................... ................................0
         0210429........................... MATTHEWS..................................... NC......... .............. 02/03/2006.... ..................... ...................1,335,447 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,192 ............................... ............................... ................................0
         0210430........................... OAK PARK....................................... IL........... .............. 12/08/2005.... ..................... ...................7,702,624 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................58,394 ............................... ............................... ................................0
         0210431........................... CORONA.......................................... CA......... .............. 03/22/2006.... ..................... ...................1,194,462 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,133 ............................... ............................... ................................0
         0210432........................... CORONA.......................................... CA......... .............. 03/22/2006.... ..................... ...................2,459,185 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,626 ............................... ............................... ................................0
         0210433........................... WAUKEGAN..................................... IL........... .............. 12/08/2005.... ..................... ...................3,853,342 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................24,337 ............................... ............................... ................................0
         0210434........................... PHOENIX......................................... AZ......... .............. 12/01/2005.... ..................... ...................2,134,983 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................7,583 ............................... ............................... ................................0
         0210435........................... GREENSBORO................................ NC......... .............. 12/21/2005.... ..................... ...................3,978,147 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,997 ............................... ............................... ................................0
         0210436........................... CORONA.......................................... CA......... .............. 02/09/2006.... ..................... ...................3,012,520 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,670 ............................... ............................... ................................0
         0210437........................... HICKORY......................................... NC......... .............. 02/02/2006.... ..................... ...................4,508,234 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,392 ............................... ............................... ................................0
         0210438........................... IRVINE............................................. CA......... .............. 03/16/2006.... ..................... ...................7,987,631 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................46,816 ............................... ............................... ................................0
QE02.3




         0210439........................... AUSTIN............................................ TX......... .............. 01/30/2006.... ..................... .................11,545,984 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ......................106,877 ............................... ............................... ................................0
         0210441........................... BELLEVUE....................................... WA........ .............. 05/05/2006.... ..................... ...................5,743,038 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................31,965 ............................... ............................... ................................0
         0210442........................... GREENSBORO................................ NC......... .............. 03/28/2006.... ..................... ...................4,183,456 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................24,241 ............................... ............................... ................................0
         0210444........................... GREENSBORO................................ NC......... .............. 04/13/2006.... ..................... ...................2,594,773 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,167 ............................... ............................... ................................0
         0210445........................... SAN ANTONIO................................. TX......... .............. 03/16/2006.... ..................... ...................8,494,104 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................31,238 ............................... ............................... ................................0
         0210446........................... LONGVIEW...................................... WA........ .............. 08/02/2006.... ..................... ...................7,211,870 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................52,947 ............................... ............................... ................................0
         0210447........................... MESA............................................... AZ......... .............. 03/10/2006.... ..................... .................15,000,000 ............................... ............................... ............................... .................219,750 .................219,750 ............................... .................................... .................................... ............................... ............................... ................................0
         0210448........................... MANCHESTER................................. VT......... .............. 05/23/2006.... ..................... ...................2,179,214 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,704 ............................... ............................... ................................0
         0210449........................... NORTH AURORA............................. IL........... .............. 09/25/2006.... ..................... ...................2,926,112 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,897 ............................... ............................... ................................0
         0210450........................... PEORIA............................................ AZ......... .............. 05/25/2006.... ..................... ...................3,100,045 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,580 ............................... ............................... ................................0
         0210451........................... FAIRFLIELD..................................... CA......... .............. 04/04/2006.... ..................... ...................4,203,665 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................24,575 ............................... ............................... ................................0
         0210452........................... FARMERS BRANCH........................ TX......... .............. 05/01/2006.... ..................... ...................3,028,674 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,317 ............................... ............................... ................................0
         0210453........................... LAKEWOOD..................................... WA........ .............. 07/20/2006.... ..................... ...................8,084,373 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................36,474 ............................... ............................... ................................0
         0210454........................... ONTARIO......................................... CA......... .............. 06/28/2006.... ..................... ...................3,829,744 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,962 ............................... ............................... ................................0
         0210455........................... MANSFIELD..................................... OH......... .............. 06/29/2006.... ..................... ...................3,162,565 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................11,607 ............................... ............................... ................................0
         0210456........................... AUSTIN............................................ TX......... .............. 09/15/2006.... ..................... ...................3,468,101 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,465 ............................... ............................... ................................0
         0210457........................... AUSTIN............................................ TX......... .............. 07/13/2006.... ..................... ...................6,769,674 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................25,721 ............................... ............................... ................................0
         0210458........................... AMARILLO........................................ TX......... .............. 08/22/2006.... ..................... ...................2,752,019 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................11,037 ............................... ............................... ................................0
         0210459........................... HICKORY......................................... NC......... .............. 08/03/2006.... ..................... ...................2,323,019 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,288 ............................... ............................... ................................0
         0210460........................... SAN ANTONIO................................. TX......... .............. 10/03/2006.... ..................... ...................5,364,247 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,565 ............................... ............................... ................................0
         0210461........................... PHOENIX......................................... AZ......... .............. 11/15/2006.... ..................... ...................4,643,066 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................14,390 ............................... ............................... ................................0
         0210462........................... KIRKLAND........................................ WA........ .............. 08/16/2006.... ..................... ...................3,355,893 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,980 ............................... ............................... ................................0
         0210463........................... LEXINGTON..................................... KY......... .............. 08/31/2006.... ..................... ...................3,357,203 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,234 ............................... ............................... ................................0
         0210464........................... BELMONT........................................ NC......... .............. 10/25/2006.... ..................... ...................5,639,232 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,499 ............................... ............................... ................................0
             Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                       SCHEDULE B - PART 3
                                                                                                                                                                                           Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                          1                                                Location                                     4                 5                    6                           7                                                                            Change in Book Value/Recorded Investment                                                                                           14                                    15                             16                            17                              18
                                                                       2                                 3                                                                                                                 8                             9                       10                  11                                          12                          13                        Book Value/
                                                                                                                                                                                  Book Value/                                                                              Current Year's                                                                                   Total                       Recorded
                                                                                                                                                                                    Recorded                        Unrealized                    Current                   Other Than          Capitalized                                  Total                         Foreign                     Investment                                                           Foreign
                                                                                                                                                                                   Investment                        Valuation                    Year's                    Temporary             Deferred                                 Change in                      Exchange                      Excluding                                                          Exchange                      Realized                          Total
                                                                                                                      Loan            Date                Disposal             Excluding Accrued                     Increase                  (Amortization)/              Impairment            Interest                                 Book Value                    Change in                   Accrued Interest                                                     Gain (Loss)                   Gain (Loss)                     Gain (Loss)
                 Loan Number                                         City                             State           Type           Acquired               Date               Interest Prior Year                  (Decrease)                   Accretion                  Recognized           and Other                                (8+9-10+11)                    Book Value                    on Disposal                       Consideration                    on Disposal                   on Disposal                     on Disposal

         0210465........................... LEXINGTON..................................... KY......... .............. 10/12/2006.... ..................... ...................2,510,861 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,602 ............................... ............................... ................................0
         0210466........................... ELLWOOD CITY............................... PA......... .............. 11/16/2006.... ..................... ...................1,837,403 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................8,433 ............................... ............................... ................................0
         0210467........................... MUSKEGON..................................... MI.......... .............. 12/11/2006.... ..................... ...................4,261,486 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................22,541 ............................... ............................... ................................0
         0210469........................... GASTONIA....................................... NC......... .............. 12/11/2006.... ..................... ...................1,734,381 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,198 ............................... ............................... ................................0
         0210471........................... LOVELAND....................................... CO......... .............. 12/20/2006.... ..................... ...................6,794,083 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ...................1,019,715 ............................... ............................... ................................0
         0210472........................... ARLINGTON..................................... TX......... .............. 12/05/2006.... ..................... ...................3,410,701 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,223 ............................... ............................... ................................0
         0210473........................... AUSTIN............................................ TX......... .............. 01/05/2007.... ..................... .................10,429,280 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................69,041 ............................... ............................... ................................0
         0210474........................... CARBONDALE................................. CO......... .............. 12/08/2006.... ..................... ...................3,058,053 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................16,097 ............................... ............................... ................................0
         0210475........................... BELLWOOD..................................... IL........... .............. 12/21/2006.... ..................... ...................7,124,901 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,248 ............................... ............................... ................................0
         0210476........................... SCOTTSDALE.................................. AZ......... .............. 12/21/2006.... ..................... ...................3,685,807 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,148 ............................... ............................... ................................0
         0210478........................... CHARLOTTE.................................... NC......... .............. 03/23/2007.... ..................... ...................1,902,906 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,006 ............................... ............................... ................................0
         0210479........................... BARDSTOWN.................................. KY......... .............. 06/08/2007.... ..................... ...................2,354,929 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................12,313 ............................... ............................... ................................0
         0210481........................... YPSILANTI....................................... MI.......... .............. 05/03/2007.... ..................... ...................4,009,286 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,153 ............................... ............................... ................................0
         0210482........................... HOUSTON........................................ TX......... .............. 04/02/2007.... ..................... ...................1,673,451 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,825 ............................... ............................... ................................0
QE02.4




         0210483........................... SCOTTSDALE.................................. AZ......... .............. 04/11/2007.... ..................... ...................3,932,872 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................20,288 ............................... ............................... ................................0
         0210484........................... SCOTTSDALE.................................. AZ......... .............. 04/12/2007.... ..................... ...................2,955,611 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,247 ............................... ............................... ................................0
         0210485........................... ALEPPO TOWNSHIP....................... PA......... .............. 06/07/2007.... ..................... ...................2,044,397 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,776 ............................... ............................... ................................0
         0210486........................... PLYMOUTH...................................... MI.......... .............. 05/02/2007.... ..................... ...................2,690,603 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................7,447 ............................... ............................... ................................0
         0210487........................... MASON............................................ OH......... .............. 09/28/2007.... ..................... ...................3,751,390 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,492 ............................... ............................... ................................0
         0210488........................... MELROSE PARK.............................. IL........... .............. 05/09/2007.... ..................... .................13,548,703 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................47,609 ............................... ............................... ................................0
         0210489........................... GRAND RAPIDS............................... MI.......... .............. 08/01/2007.... ..................... ...................5,405,639 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,575 ............................... ............................... ................................0
         0210490........................... SANTA FE SPRINGS....................... CA......... .............. 07/02/2007.... ..................... ...................1,988,473 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................7,057 ............................... ............................... ................................0
         0210491........................... VANDALIA........................................ OH......... .............. 10/30/2007.... ..................... ...................1,996,676 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,864 ............................... ............................... ................................0
         0210493........................... FAYETTEVILLE................................ NC......... .............. 07/09/2007.... ..................... ...................1,347,478 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................7,007 ............................... ............................... ................................0
         0210494........................... SHARONVILLE................................. OH......... .............. 08/09/2007.... ..................... ...................5,443,072 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,064 ............................... ............................... ................................0
         0210495........................... AUSTIN............................................ TX......... .............. 06/22/2007.... ..................... ...................4,273,344 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,814 ............................... ............................... ................................0
         0210496........................... RALEIGH.......................................... NC......... .............. 07/19/2007.... ..................... ...................3,509,818 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,693 ............................... ............................... ................................0
         0210497........................... SHARONVILLE................................. OH......... .............. 08/09/2007.... ..................... ...................3,317,097 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................11,398 ............................... ............................... ................................0
         0210502........................... MANKATO........................................ MN........ .............. 12/20/2007.... ..................... ...................3,530,490 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,693 ............................... ............................... ................................0
         0210503........................... POMPANO BEACH.......................... FL.......... .............. 09/27/2007.... ..................... ...................5,397,425 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................23,048 ............................... ............................... ................................0
         0210504........................... WHITESBURG................................. KY......... .............. 12/21/2007.... ..................... ...................4,287,329 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................19,317 ............................... ............................... ................................0
         0210505........................... MEMPHIS......................................... TN......... .............. 11/16/2007.... ..................... ...................3,207,058 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................9,886 ............................... ............................... ................................0
         0210506........................... W DES MOINES............................... IA........... .............. 03/24/2008.... ..................... ...................8,910,064 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................27,893 ............................... ............................... ................................0
         0210507........................... DAYTON........................................... OH......... .............. 11/21/2007.... ..................... ...................3,349,196 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................33,651 ............................... ............................... ................................0
         0210508........................... ANN ARBOR.................................... MI.......... .............. 02/12/2008.... ..................... ...................9,983,834 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................32,835 ............................... ............................... ................................0
         0210509........................... WOODLAWN.................................... MD........ .............. 01/18/2008.... ..................... ...................4,455,829 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................21,010 ............................... ............................... ................................0
         0210510........................... CINCINNATI..................................... OH......... .............. 12/13/2007.... ..................... ...................1,306,866 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................6,041 ............................... ............................... ................................0
         0210511........................... HILLIARD......................................... OH......... .............. 02/14/2008.... ..................... ...................3,726,967 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................14,922 ............................... ............................... ................................0
             Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                        SCHEDULE B - PART 3
                                                                                                                                                                                           Showing all Mortgage Loans DISPOSED, Transferred or Repaid During the Current Quarter
                          1                                                Location                                     4                 5                     6                          7                                                                            Change in Book Value/Recorded Investment                                                                                            14                                   15                              16                            17                              18
                                                                       2                                 3                                                                                                                 8                             9                       10                  11                                           12                         13                         Book Value/
                                                                                                                                                                                   Book Value/                                                                             Current Year's                                                                                   Total                        Recorded
                                                                                                                                                                                     Recorded                        Unrealized                    Current                  Other Than          Capitalized                                   Total                        Foreign                      Investment                                                           Foreign
                                                                                                                                                                                    Investment                        Valuation                    Year's                   Temporary             Deferred                                  Change in                     Exchange                       Excluding                                                          Exchange                      Realized                          Total
                                                                                                                      Loan            Date                 Disposal             Excluding Accrued                     Increase                  (Amortization)/             Impairment            Interest                                  Book Value                   Change in                    Accrued Interest                                                     Gain (Loss)                   Gain (Loss)                     Gain (Loss)
                 Loan Number                                          City                             State          Type           Acquired                Date               Interest Prior Year                  (Decrease)                   Accretion                 Recognized           and Other                                 (8+9-10+11)                   Book Value                     on Disposal                       Consideration                    on Disposal                   on Disposal                     on Disposal

         0210512........................... FREDERICKSBURG......................... TX......... .............. 04/11/2008.... ..................... ...................2,251,309 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,487 ............................... ............................... ................................0
         0210513........................... HIALEAH.......................................... FL.......... .............. 02/26/2008.... ..................... ...................3,431,124 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,503 ............................... ............................... ................................0
         0210514........................... MIDLOTHIAN.................................... VA......... .............. 03/06/2008.... ..................... ...................5,158,643 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,975 ............................... ............................... ................................0
         0210515........................... ORLANDO........................................ FL.......... .............. 06/05/2008.... ..................... ...................4,723,407 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,546 ............................... ............................... ................................0
         0210516........................... CHARLOTTE.................................... NC......... .............. 06/26/2008.... ..................... ...................1,472,331 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................5,121 ............................... ............................... ................................0
         0210517........................... DALLAS............................................ TX......... .............. 12/30/2008.... ..................... .................11,836,056 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................46,603 ............................... ............................... ................................0
         0210518........................... DALLAS............................................ TX......... .............. 12/30/2008.... ..................... ...................4,734,423 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................18,641 ............................... ............................... ................................0
         0210519........................... FARRAUT......................................... TN......... .............. 12/30/2008.... ..................... .................14,351,841 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................41,959 ............................... ............................... ................................0
         0210520........................... SAN ANTONIO................................. TX......... .............. 11/18/2008.... ..................... .................10,385,395 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................29,854 ............................... ............................... ................................0
         0210521........................... ALBUQUERQUE.............................. NM........ .............. 11/21/2008.... ..................... .................12,858,782 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................36,792 ............................... ............................... ................................0
         0210522........................... BELLEVUE....................................... WA........ .............. 12/08/2008.... ..................... ...................6,333,406 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................17,374 ............................... ............................... ................................0
         0210523........................... GLEN BURNIE................................. MD........ .............. 12/30/2008.... ..................... ...................6,357,711 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................26,189 ............................... ............................... ................................0
         0210524........................... CLEAR LAKE CITY........................... TX......... .............. 12/21/2009.... ..................... ...................4,200,000 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................15,217 ............................... ............................... ................................0
         0210525........................... SAN ANTONIO................................. TX......... .............. 12/31/2009.... ..................... ...................7,500,000 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................13,597 ............................... ............................... ................................0
QE02.5




         0910022........................... SPOKANE........................................ WA........ .............. 09/05/2000.... ..................... ...................4,008,161 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................31,037 ............................... ............................... ................................0
         210360A........................... RIVERSIDE...................................... CA......... .............. 12/15/2003.... ..................... ...................1,549,552 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,499 ............................... ............................... ................................0
         210360B........................... RIVERSIDE...................................... CA......... .............. 01/05/2004.... ..................... ...................1,540,722 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................10,439 ............................... ............................... ................................0
         210373A........................... UPLAND........................................... CA......... .............. 05/04/2004.... ..................... ...................4,141,258 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................45,573 ............................... ............................... ................................0
         210373B........................... UPLAND........................................... CA......... .............. 02/20/2007.... ..................... ......................573,133 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ..........................2,708 ............................... ............................... ................................0
         210405A........................... GREELEY......................................... CO......... .............. 05/05/2005.... ..................... ...................4,558,546 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................46,323 ............................... ............................... ................................0
         210405B........................... GREELEY......................................... CO......... .............. 05/05/2005.... ..................... ......................273,994 ............................... ............................... ............................... ............................... ............................0 ............................... .................................... ........................26,615 ............................... ............................... ................................0
         0299999. Total - Mortgages With Partial Repayments................. ............................................................................... ...............788,677,946 ............................0 ............................0 ............................0 .................219,750 .................219,750 ............................0                                 ................................0 ...................5,898,685 ............................0 ............................0     ................................0
         0599999. Total Mortgages........................................................... ............................................................................... ...............791,668,847 ............................0 ............................0 ............................0 .................219,750 .................219,750 ............................0 ...................2,990,901 ...................8,889,586 ............................0 ............................0                          ................................0
           Statement as of March 31, 2010 of the                             Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                                          SCHEDULE BA - PART 2
                                                                                                                                                                                       Showing Other Long-Term Invested Assets ACQUIRED AND ADDITIONS MADE During the Current Quarter
                     1                                                                                     2                                                                                                      Location                                                                                               5                                                                     6                   7                     8                         9                              10                                 11                              12                           13
                                                                                                                                                                                                              3                                    4                                                                                                                                                                                                             Actual                        Additional                                                       Commitment
                                                                                                                                                                                                                                                                                                                 Name of                                                                   NAIC                Date                   Type                      Cost at                       Investment                                                             for                    Percentage
               CUSIP                                                                                 Name or                                                                                                                                                                                                    Vendor or                                                                  Desig-            Originally                and                      Time of                       Made After                      Amount of                           Additional                    of
            Identification                                                                          Description                                                                                             City                                State                                                         General Partner                                                              nation            Acquired                Strategy                  Acquisition                    Acquisition                   Encumbrances                         Investment                 Ownership




                                                                                                                                                                                                                                                                           SCHEDULE BA - PART 3
                                                                                                                                                                                            Showing Other Long-Term Invested Assets DISPOSED, Transferred or Repaid During the Current Quarter
QE03




                     1                                                         2                                                              Location                                                              5                                               6                   7                       8                                                     Changes in Book/Adjusted Carrying Value                                                                                  15                     16                    17                   18                   19                   20
                                                                                                                                              3                         4                                                                                                                                                                  9                   10               11              12               13                                                  14
                                                                                                                                                                                                                                                                                                      Book/Adjusted                                       Current Year's Current Year's                                                                             Total              Book/Adjusted
                                                                                                                                                                                                                                                                                                      Carrying Value                Unrealized            (Depreciation)   Other Than       Capitalized        Total                                               Foreign             Carrying Value                                   Foreign
                                                                                                                                                                                                                                                                Date                                       Less                      Valuation                 or          Temporary         Deferred        Change in                                            Exchange                  Less                                       Exchange             Realized               Total
               CUSIP                                                     Name or                                                                                                                     Name of Purchaser or                                     Originally           Disposal           Encumbrances,                  Increase             (Amortization)/  Impairment        Interest         B./A.C.V                                            Change in            Encumbrances                                   Gain (Loss)          Gain (Loss)          Gain (Loss)            Investment
            Identification                                              Description                                                         City                     State                            Nature of Disposal                                      Acquired               Date               Prior Year                  (Decrease)              Accretion      Recognized       and Other      (9+10-11+12)                                           B./A.C.V.             on Disposal            Consideration          on Disposal          on Disposal          on Disposal              Income


       Any Other Class of Asset - Unaffiliated
           LN3634          61      2 Energy Future Holdings-TXU Syndicated B.................. .......................................... ........ Redemption                                           100.0000...................................... 05/09/2008 01/01/2010 ..............(75,527) ........................ ........................ ........................ ........................ .....................0 ........................ ..............(75,527) ...........(75,586) ...................... ................(59) ................(59) ..............(176)
           LN3634          69      5 Energy Future Holdings-TXU Syndicated B.................. .......................................... ........ Redemption                                           100.0000...................................... 11/09/2009 03/31/2010 .................6,245 ........................ ........................ ........................ ........................ .....................0 ........................ .................6,245                                ..............6,250 ...................... ...................5 ...................5 .................59
           LN3605          19      0 First Data Corp Syndicated Bank Loan-A...................... .......................................... ........ Redemption                                        100.0000...................................... 10/25/2007 03/31/2010 .................6,113 ........................ .....................7 ........................ ........................ .....................7 ........................ .................6,120                                  ..............6,250 ...................... ...............130 ...............130 .................47
       3799999. Total - Any Other Class of Asset - Unaffiliated......................................................................................... .......................................................................................................................... ..............(63,169) .....................0                         .....................7   .....................0   .....................0    .....................7    .....................0 ..............(63,162) ...........(63,086) ...................0 .................76 .................76 ................(70)
                     3999999. Subtotal - Unaffiliated..............................................................................................................................................................................................................................                  ..............(63,169) .....................0        .....................7   .....................0   .....................0    .....................7    .....................0 ..............(63,162) ...........(63,086) ...................0 .................76 .................76 ................(70)
       4199999. Totals........................................................................................................................................................ .......................................................................................................................... ..............(63,169) .....................0   .....................7   .....................0   .....................0    .....................7    .....................0 ..............(63,162) ...........(63,086) ...................0 .................76 .................76 ................(70)
          Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                               SCHEDULE D - PART 3
                                                                                                                                                                                                                  Show all Long-Term Bonds and Stock Acquired During the Current Quarter
                  1                                                                                        2                                                                                      3                    4                                                                                5                                                                                           6                                                7                                               8                                            9                                       10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Paid for                            NAIC Designation
             CUSIP                                                                                                                                                                                                  Date                                                                                                                                                                   Number of                                                                                                                                       Accrued Interest                            or Market
          Identification                                                                           Description                                                                                Foreign             Acquired                                                                   Name of Vendor                                                                              Shares of Stock                                     Actual Cost                                       Par Value                                    and Dividends                            Indicator (a)


       Bonds - U.S. Government
         912810 QE         1 United States Treasury 4.625% 02/15/40.................................................................................................... ................. ....02/18/2010 Barclays Capital........................................................................................................................ ............................................... ................................14,697,656                                    ................................15,000,000      .........................................7,666 1................................
         912828 MP         2 United States Treasury 3.625% 02/15/20.................................................................................................... ................. ....02/18/2010 Deutsche Bank-Alex Brown...................................................................................................... ............................................... ................................14,793,750                                              ................................15,000,000      .........................................6,008 1................................
       0399999.                Total - Bonds - U.S. Government............................................................................................................................................................... .................................................................................................................................................................................................... ................................29,491,406   ................................30,000,000      .......................................13,674 ..........XXX.................
       Bonds - U.S. Special Revenue and Special Assessment
         3128M7 YQ         3 FREDDIE MAC G05819 5.000% 02/01/40................................................................................................. ................. ....03/17/2010 Nomura Securities..................................................................................................................... ............................................... ................................26,336,330                                             ................................25,145,832      .......................................73,342 1FE...........................
         312939       V8   1 FREDDIE MAC A91539 5.000% 03/01/40.................................................................................................. ................. ....03/18/2010 Banc of America Securities....................................................................................................... ............................................... ................................75,394,688                                                 ................................72,000,000      .....................................220,000 1FE...........................
         31394C GA         4 Federal Natl Mtg Assn 5.000% 02/25/35.................................................................................................... ................. ....03/16/2010 Barclays Capital........................................................................................................................ ............................................... ................................51,133,150                                     ................................49,886,000      .....................................124,715 1FE...........................
         31394D QA         1 Federal Natl Mtg Assn 5.000% 05/25/35.................................................................................................... ................. ....03/15/2010 Barclays Capital........................................................................................................................ ............................................... ................................48,990,900                                     ................................47,796,000      .....................................112,852 1FE...........................
         31395N RM         1 Federal Natl Mtg Assn 5.500% 07/25/36.................................................................................................... ................. ....03/09/2010 Citigroup Global........................................................................................................................ ............................................... ................................27,914,665                                     ................................26,428,085      .......................................44,414 1FE...........................
         31396K KS         0 Federal Natl Mtg Assn 6.500% 08/25/36.................................................................................................... ................. ....03/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................184,723                                    .....................................184,723 ................................................... 1FE...........................
         31396Q Q9         3 Federal Natl Mtg Assn 4.000% 09/25/29.................................................................................................... ................. ....02/18/2010 Credit Suisse............................................................................................................................. ............................................... ................................44,340,261                                   ................................46,920,911      .....................................114,696 1FE...........................
         31396X FK         5 Federal Natl Mtg Assn 6.500% 08/25/37.................................................................................................... ................. ....03/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................228,656                                    .....................................228,656 ................................................... 1FE...........................
         31396Y       F7   2 Federal Natl Mtg Assn 4.500% 04/25/38.................................................................................................... ................. ....03/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................215,682                                    .....................................215,682 ................................................... 1FE...........................
         31397A GM         9 Federal Home Ln Mtg 5.500% 08/15/36..................................................................................................... ................. ....01/25/2010 Barclays Capital........................................................................................................................ ............................................... ................................52,750,000                                      ................................50,000,000      .....................................206,250 1FE...........................
         31397A RM         7 Federal Home Ln Mtg 5.000% 08/15/36..................................................................................................... ................. ....03/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................304,539                                     .....................................304,539 ................................................... 1FE...........................
         31397F       L8   3 FREDDIE MAC REMIC                        4.500% 03/15/37................................................................................................ ................. ....03/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................155,378                     .....................................155,378 ................................................... 1FE...........................
QE04




         31397W UV         5 Federal Home Ln Mtg 5.000% 07/15/38..................................................................................................... ................. ....01/08/2010 Keybanc Capital Markets.......................................................................................................... ............................................... ..................................9,907,813                                            ................................10,000,000      .......................................16,667 1FE...........................
         31398E 6W         9 Federal Home Ln Mtg 4.000% 06/15/24..................................................................................................... ................. ....02/26/2010 BNP Paribas.............................................................................................................................. ............................................... ................................48,546,875                                     ................................50,000,000      .......................................11,111 1FE...........................
         31398E DS         0 Federal Home Ln Mtg 5.000% 06/15/39..................................................................................................... ................. ....02/01/2010 Interest Capitalization................................................................................................................ ............................................... .....................................344,523                                     .....................................344,523 ................................................... 1FE...........................
          31398J      U5   0 Federal Home Ln Mtg 4.000% 09/15/24..................................................................................................... ................. ....01/13/2010 BNP Paribas.............................................................................................................................. ............................................... ................................15,604,031                                     ................................16,350,000      .......................................32,700 1FE...........................
         31412R D9         5 Fannie Mae 932628 4.000% 03/01/25........................................................................................................ ................. ....03/24/2010 Nomura Securities..................................................................................................................... ............................................... ................................69,454,889                                       ................................68,207,962      .....................................136,416 1FE...........................
         31412R EA         1 Fannie Mae 932629 4.000% 03/01/25........................................................................................................ ................. ....03/24/2010 Nomura Securities..................................................................................................................... ............................................... ................................41,556,893                                       ................................40,785,787      .......................................81,572 1FE...........................
         38374V AX         7 Government Natl Mtg 4.500% 07/20/37...................................................................................................... ................. ....02/26/2010 Greenwich Capital..................................................................................................................... ............................................... ................................40,350,593                                       ................................40,287,644      .......................................10,072 1FE...........................
         38376E       J2   2 Government Natl Mtg 4.000% 11/16/24...................................................................................................... ................. ....01/14/2010 Morgan Stanley DWD................................................................................................................ ............................................... ................................19,050,000                                           ................................20,000,000      .......................................42,222 1FE...........................
       3199999.                Total - Bonds - U.S. Special Revenue & Special Assessments................................................................................................................ .................................................................................................................................................................................................... ..............................572,764,589                        ..............................565,241,722       ..................................1,227,029 ..........XXX.................
       Bonds - Industrial and Miscellaneous
         00510R AA         1 ACUITY BRANDS LIGHTING 6.000% 12/15/19.......................................................................................... ................. ....01/04/2010 Seaport Group........................................................................................................................... ............................................... ..................................4,867,830                                             ..................................5,000,000     .......................................24,167 2FE...........................
         00724F AB         7 Adobe Systems Inc 4.750% 02/01/20.......................................................................................................... ................. ....01/25/2010 Banc of America Securities....................................................................................................... ............................................... ..................................7,950,960                                         ..................................8,000,000 ................................................... 2FE...........................
         018804       AL   8 ALLIANT TECHSYSTEMS INC 6.750% 04/01/16....................................................................................... ................. ....01/04/2010 Libertas Partners....................................................................................................................... ............................................... .....................................992,500                                              ..................................1,000,000     .......................................18,000 3FE...........................
         031162 BA         7 Amgen Inc 6.400% 02/01/39........................................................................................................................ ................. ....02/18/2010 Citigroup Global........................................................................................................................ ............................................... ..................................5,390,750                            ..................................5,000,000     .......................................19,556 1FE...........................
         037411 AR         6 Apache Corp 6.000% 01/15/37.................................................................................................................... ................. ....02/18/2010 JP Morgan................................................................................................................................. ............................................... ................................10,339,400                             ................................10,000,000      .......................................63,333 1FE...........................
         055921 AA         8 BMC Software Inc 7.250% 06/01/18............................................................................................................ ................. ....01/20/2010 BTIG.......................................................................................................................................... ............................................... ..................................2,804,442                           ..................................2,514,000     .......................................27,340 2FE...........................
         07388Q AG         4 Bear Stearns Comm Mtg 5.915% 06/11/50................................................................................................ ................. ....03/25/2010 UBS........................................................................................................................................... ............................................... ..................................8,500,000                                  ................................10,000,000      .......................................47,649 1FE...........................
         101137 AK         3 Boston Scientific Corp 6.000% 01/15/20..................................................................................................... ................. ....03/16/2010 Libertas Partners....................................................................................................................... ............................................... ..................................1,937,520                                  ..................................2,000,000     .......................................31,667 3FE...........................
         10510K AA         5 BRAMBLES USA INC 5.350% 04/01/20...................................................................................................... ................. ....03/24/2010 JP Morgan................................................................................................................................. ............................................... ..................................1,999,380                                     ..................................2,000,000 ................................................... 2FE...........................
         124857 AD         5 CBS CORP 5.750% 04/15/20...................................................................................................................... ................. ....03/30/2010 Morgan Stanley DWD................................................................................................................ ............................................... .....................................998,770                                    ..................................1,000,000 ................................................... 2FE...........................
         12572X AA         8 CME GROUP INDEX SERVICE 4.400% 03/15/18...................................................................................... ................. ....03/08/2010 Barclays Capital........................................................................................................................ ............................................... ..................................2,994,000                                                ..................................3,000,000 ................................................... 1FE...........................
         126117 AE         0 CNA Finl Corp 7.250% 11/15/23.................................................................................................................. ................. ....03/24/2010 BNP Paribas.............................................................................................................................. ............................................... ..................................4,007,400                             ..................................4,000,000     .....................................107,944 2FE...........................
         17275R AF         9 Cisco Systems Inc 5.500% 01/15/40........................................................................................................... ................. ....02/17/2010 Banc of America Securities....................................................................................................... ............................................... ..................................2,830,140                                        ..................................3,000,000     .......................................16,958 1FE...........................
         Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                    SCHEDULE D - PART 3
                                                                                                                                                                                                         Show all Long-Term Bonds and Stock Acquired During the Current Quarter
                1                                                                                      2                                                                                  3                   4                                                                            5                                                                                      6                                             7                                              8                                            9                                       10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Paid for                            NAIC Designation
             CUSIP                                                                                                                                                                                         Date                                                                                                                                                           Number of                                                                                                                                  Accrued Interest                            or Market
          Identification                                                                        Description                                                                           Foreign            Acquired                                                               Name of Vendor                                                                          Shares of Stock                                  Actual Cost                                     Par Value                                    and Dividends                            Indicator (a)


         18683K AA         9 CLIFFS NATURAL RESOURCE 5.900% 03/15/20..................................................................................... ................. ....03/10/2010 Banc of America Securities....................................................................................................... ............................................... ..................................2,982,810                                  ..................................3,000,000 ................................................... 2FE...........................
         226566 AC         1 CRICKET COMMUNICATIONS 9.375% 11/01/14..................................................................................... ................. ....02/11/2010 Cantor Fitzgerald....................................................................................................................... ............................................... .....................................980,000                           ..................................1,000,000     .......................................27,604 4FE...........................
         25459H AR         6 DirecTV Holdings/Fing 5.200% 03/15/20..................................................................................................... ................. ....03/08/2010 JP Morgan................................................................................................................................. ............................................... ..................................2,995,110           ..................................3,000,000 ................................................... 2FE...........................
         344868 AA         2 FOOTBALL TRUST V 5.350% 10/05/20..................................................................................................... ................. ....03/24/2010 Banc of America Securities....................................................................................................... ............................................... ..................................5,000,000                         ..................................5,000,000 ................................................... 1FE...........................
         401378 AA         2 GUARDIAN LIFE INSURANCE 7.375% 09/30/39....................................................................................... ................. ....03/25/2010 Wells Fargo Funds.................................................................................................................... ............................................... ..................................7,564,270                            ..................................7,000,000     .....................................249,521 1FE...........................
         404132 AH         5 HCC Insurance Holdings 6.300% 11/15/19................................................................................................ ................. ....03/30/2010 Various...................................................................................................................................... ............................................... ..................................2,079,910            ..................................2,000,000     .......................................48,650 1FE...........................
         42208@ AA         8 HD Salem (Home Depot) 6.250% 11/30/30................................................................................................ ................. ....02/28/2010 Direct-Private Placement.......................................................................................................... ............................................... ..................................5,000,000                        ..................................5,000,000 ................................................... 2Z..............................
         45326T AA         6 INCITEC PIVOT FIN LLC 6.000% 12/10/19................................................................................................ ................. ....03/09/2010 Citigroup Global........................................................................................................................ ............................................... ..................................6,932,660                  ..................................7,000,000     .....................................107,333 2FE...........................
         50075N AZ         7 Kraft Foods Inc 6.500% 02/09/40................................................................................................................ ................. ....02/18/2010 Greenwich Capital..................................................................................................................... ............................................... ................................11,048,730           ................................11,000,000      .......................................29,792 2FE...........................
         50075N BA         1 Kraft Foods Inc 5.375% 02/10/20................................................................................................................ ................. ....03/09/2010 Citigroup Global........................................................................................................................ ............................................... ................................11,349,030         ................................11,000,000      .......................................55,840 2FE...........................
         53217V AC         3 LIFE TECHNOLOGIES CORP 6.000% 03/01/20........................................................................................ ................. ....02/11/2010 Various...................................................................................................................................... ............................................... ..................................8,045,900                    ..................................8,000,000 ................................................... 2FE...........................
         548661 CP         0 Lowes Companies Inc 6.650% 09/15/37..................................................................................................... ................. ....02/18/2010 Citigroup Global........................................................................................................................ ............................................... ..................................5,502,200               ..................................5,000,000     .....................................145,931 1FE...........................
         552676 AP         3 MDC HOLDINGS INC 5.625% 02/01/20...................................................................................................... ................. ....01/12/2010 Citigroup Global........................................................................................................................ ............................................... ..................................2,926,950                 ..................................3,000,000 ................................................... 2FE...........................
         562567 AP         2 Mandalay Resort Group 6.375% 12/15/11................................................................................................... ................. ....02/09/2010 Miller Tabek............................................................................................................................... ............................................... ..................................2,366,250            ..................................2,500,000     .......................................25,234 5FE...........................
         574599 BG         0 Masco Corp 7.125% 03/15/20..................................................................................................................... ................. ....03/05/2010 Various...................................................................................................................................... ............................................... ..................................3,007,460   ..................................3,000,000 ................................................... 3FE...........................
         575767 AE         8 MASS MUTUAL LIFE INS CO 5.625% 05/15/33......................................................................................... ................. ....03/25/2010 Barclays Capital........................................................................................................................ ............................................... ..................................2,967,463                       ..................................3,325,000     .......................................70,137 1FE...........................
         58013M EC         4 McDonalds Corp 6.300% 10/15/37.............................................................................................................. ................. ....02/18/2010 Citigroup Global........................................................................................................................ ............................................... ..................................7,461,440           ..................................7,000,000     .....................................156,800 1FE...........................
QE04.1




         582839 AB         2 Mead Johnson Nutrition 4.900% 11/01/19.................................................................................................. ................. ....03/25/2010 Credit Suisse............................................................................................................................. ............................................... ..................................9,905,400             ................................10,000,000      .....................................197,361 2FE...........................
         61980A AC         7 Motiva Enterprises LLC 5.750% 01/15/20................................................................................................... ................. ....01/06/2010 Credit Suisse............................................................................................................................. ............................................... ..................................4,740,690            ..................................4,750,000 ................................................... 1FE...........................
         62425* AA         5 Mountain Prairie Wind 6.560% 03/25/30.................................................................................................... ................. ....03/25/2010 Direct-Private Placement.......................................................................................................... ............................................... ..................................8,000,000                    ..................................8,000,000 ................................................... 2Z..............................
         631103 AD         0 Nasdaq Stock Market Inc 5.550% 01/15/20................................................................................................. ................. ....03/25/2010 Banc of America Securities....................................................................................................... ............................................... ..................................2,979,390                      ..................................3,000,000     .......................................34,688 2FE...........................
         66989H AD         0 NOVARTIS CAPITAL CORP 4.400% 04/24/20........................................................................................... ................. ....03/09/2010 JP Morgan................................................................................................................................. ............................................... ..................................1,984,740                     ..................................2,000,000 ................................................... 1FE...........................
         73020* AB         9 PNG CO LLC Series A 4.930% 02/26/17................................................................................................... ................. ....02/26/2010 Direct-Private Placement.......................................................................................................... ............................................... ..................................6,000,000                       ..................................6,000,000 ................................................... 2Z..............................
         887317 AE         5 Time Warner Inc 6.200% 03/15/40.............................................................................................................. ................. ....03/25/2010 Goldman Sachs & Company..................................................................................................... ............................................... ..................................3,946,720                      ..................................4,000,000     .......................................13,089 2FE...........................
         90388@ AF         8 ULTRA PETRO Notes RB-8 5.500% 01/28/20........................................................................................... ................. ....02/16/2010 Direct-Private Placement.......................................................................................................... ............................................... ..................................5,000,000                            ..................................5,000,000 ................................................... 2Z..............................
         909279 BF         7 UNITED AIRLINES INC 9.875% 08/01/13................................................................................................... ................. ....01/21/2010 Piper Jaffary.............................................................................................................................. ............................................... ..................................2,045,000              ..................................2,000,000     .........................................6,035 4FE...........................
         911312     AJ     5 United Parcel Service 6.200% 01/15/38...................................................................................................... ................. ....02/18/2010 Citigroup Global........................................................................................................................ ............................................... ..................................2,133,160            ..................................2,000,000     .......................................13,089 1FE...........................
         91359P AF         7 Universal Hospital Ser 8.500% 06/01/15..................................................................................................... ................. ....02/12/2010 Cantor Fitzgerald....................................................................................................................... ............................................... .....................................965,000           ..................................1,000,000     .......................................18,181 4FE...........................
         91913Y     AL     4 Valero Energy Corp 6.625% 06/15/37......................................................................................................... ................. ....03/24/2010 Citigroup Global........................................................................................................................ ............................................... .....................................954,410           ..................................1,000,000     .......................................19,139 2FE...........................
         91913Y AR         1 Valero Energy Corp 6.125% 02/01/20......................................................................................................... ................. ....03/24/2010 Citigroup Global........................................................................................................................ ............................................... ..................................1,999,540            ..................................2,000,000     .......................................17,354 2FE...........................
         96950F AC         8 Williams Partners LP 5.250% 03/15/20....................................................................................................... ................. ....03/25/2010 Deutsche Bank-Alex Brown...................................................................................................... ............................................... ..................................2,997,240                      ..................................3,000,000     .......................................22,313 2FE...........................
         65334H AG         7 Nexen Inc 6.400% 05/15/37......................................................................................................................... A.............. ....03/29/2010 RBC Dain.................................................................................................................................. ............................................... .....................................250,040    .....................................250,000    .........................................6,044 2FE...........................
         884903 BH         7 Thomson Corporation 5.850% 04/15/40...................................................................................................... A.............. ....03/25/2010 RBC Dain.................................................................................................................................. ............................................... .....................................964,250             ..................................1,000,000 ................................................... 1FE...........................
         03938L AP         9 Arcelormittal 7.000% 10/15/39..................................................................................................................... F............... ....03/25/2010 RBC Dain.................................................................................................................................. ............................................... ..................................3,064,230    ..................................3,000,000     .....................................100,333 2FE...........................
         05252A AN         1 AUST & NZ BANKING GROUP 5.100% 01/13/20...................................................................................... F............... ....01/06/2010 JP Morgan................................................................................................................................. ............................................... ..................................4,992,250                         ..................................5,000,000 ................................................... 1FE...........................
         411349 AA         1 HANSON LTD 6.125% 08/15/16.................................................................................................................. F............... ....01/12/2010 Barclays Capital........................................................................................................................ ............................................... .....................................987,500           ..................................1,000,000     .......................................25,521 3FE...........................
         53947M AB         2 LLOYDS TSB BANK PLC 5.800% 01/13/20................................................................................................ F............... ....01/05/2010 Banc of America Securities....................................................................................................... ............................................... ..................................3,990,680                            ..................................4,000,000 ................................................... 1FE...........................
         55608J AC         2 MACQUARIE GROUP LTD 6.000% 01/14/20............................................................................................. F............... ....01/07/2010 Barclays Capital........................................................................................................................ ............................................... ..................................7,992,880                        ..................................8,000,000 ................................................... 1FE...........................
         91911T     AJ     2 VALE OVERSEAS LIMITED 5.625% 09/15/19........................................................................................... F............... ....03/25/2010 UBS........................................................................................................................................... ............................................... ..................................4,131,960                  ..................................4,000,000     .........................................9,375 2FE...........................
         G5241#     AF     4 KERRY GROUP PLC Tranche 4.930% 01/20/22........................................................................................ F............... ....01/20/2010 Direct-Private Placement.......................................................................................................... ............................................... ..................................9,000,000                               ..................................9,000,000 ................................................... 2Z..............................
            Statement as of March 31, 2010 of the                     Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                                      SCHEDULE D - PART 3
                                                                                                                                                                                                                        Show all Long-Term Bonds and Stock Acquired During the Current Quarter
                    1                                                                                         2                                                                                         3                    4                                                                                  5                                                                                              6                                                 7                                              8                                         9                                    10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Paid for                         NAIC Designation
                CUSIP                                                                                                                                                                                                     Date                                                                                                                                                                        Number of                                                                                                                                    Accrued Interest                         or Market
             Identification                                                                           Description                                                                                  Foreign              Acquired                                                                     Name of Vendor                                                                                 Shares of Stock                                      Actual Cost                                       Par Value                                and Dividends                         Indicator (a)


         3899999.              Total - Bonds - Industrial & Miscellaneous................................................................................................................................................. .................................................................................................................................................................................................... ..............................232,848,355                    ..............................232,339,000   ..................................1,755,978 ..........XXX.................
         8399997.               Total - Bonds - Part 3................................................................................................................................................................................. .................................................................................................................................................................................................... ..............................835,104,350       ..............................827,580,722   ..................................2,996,681 ..........XXX.................
         8399999.               Total - Bonds.............................................................................................................................................................................................. .................................................................................................................................................................................................... ..............................835,104,350   ..............................827,580,722   ..................................2,996,681 ..........XXX.................
         9999999.               Total - Bonds, Preferred and Common Stocks.......................................................................................................................................... .................................................................................................................................................................................................... ..............................835,104,350 ............XXX................................ ..................................2,996,681 ..........XXX.................
         (a) For all common stock bearing the NAIC market indicator "U" provide: the number of such issues:...............0.
QE04.2
         Statement as of March 31, 2010 of the              Life Insurance Company of the Southwest
                                                                                                                                                                                                                              SCHEDULE D - PART 4
                                                                                                                                                  Show All Long-Term Bonds and Stock Sold, Redeemed or Otherwise Disposed of During the Current Quarter
                  1                                        2                                 3           4                              5                                    6                           7                        8                       9                       10                           Change in Book/Adjusted Carrying Value                                                       16                   17                18               19              20            21          22
                                                                                             F                                                                                                                                                                                                         11          12            13             14                                    15                                                                                                                     NAIC
                                                                                             o                                                                                                                                                                                                                                 Current                                                                                       Foreign                                                Bond                    Desig-
                                                                                             r                                                                                                                                                                               Prior Year                                        Year's                                              Total                Book/               Exchange           Realized           Total           Interest/                  nation
                                                                                             e                                                                                                                                                                                 Book/              Unrealized     Current     Other Than        Total                              Foreign             Adjusted                Gain               Gain             Gain             Stock                       or
                                                                                             i                                                                         Number of                                                                                             Adjusted              Valuation     Year's      Temporary      Change in                            Exchange              Carrying              (Loss)             (Loss)           (Loss)          Dividends                  Market
              CUSIP                                                                          g      Disposal                                                           Shares of                                                                                              Carrying             Increase/ (Amortization)/ Impairment      B./A.C.V.                           Change in             Value At                on                 on               on            Received      Maturity    Indicator
           Identification                           Description                              n        Date                  Name of Purchaser                            Stock                  Consideration               Par Value              Actual Cost                 Value              (Decrease)    Accretion    Recognized (11+12-13)                               B./A.C.V.          Disposal Date           Disposal           Disposal         Disposal        During Year     Date          (a)


       Bonds - U.S. Government
         36225A       PD    6 Government Natl Mtg 7.500% 08/15/26...... ..... 03/01/2010 Paydown..................................... .............................. ..................4,290 ..................4,290 ..................4,401 ..................4,376 .................... ................(86) .................... ................(86) .................. ..................4,290 .................. .................. ...............0                      .............34 08/15/2026 1FE......
         36225A       UH    1 Government Natl Mtg 7.000% 06/15/27...... ..... 03/01/2010 Paydown..................................... .............................. ..................4,703 ..................4,703 ..................4,748 ..................4,742 .................... ................(39) .................... ................(39) .................. ..................4,703 .................. .................. ...............0                      .............52 06/15/2027 1FE......
         664355       B9    4 Northeast 1985-1 FHA 8.581% 12/24/20..... ..... 03/01/2010 Paydown..................................... .............................. ................56,891 ................56,891 ................58,508 ................57,766 .................... ..............(875) .................... ..............(875) .................. ................56,891 .................. .................. ...............0                             ...........840 12/24/2020 1FE......
         912810       QE    1 United States Treasury 4.625% 02/15/40.... ..... 02/23/2010 Barclays Capital.......................... .............................. .........14,803,711                                 .........15,000,000     .........14,697,656 ............................ .................... .................65 .................... .................65 .................. .........14,697,722 .................. .....105,989 .....105,989          ......17,248 02/15/2040 1...........
         912828       MP    2 United States Treasury 3.625% 02/15/20.... ..... 02/23/2010 Deutsche Bank-Alex Brown........ .............................. .........14,821,875                                           .........15,000,000     .........14,793,750 ............................ .................... ...............238 .................... ...............238 .................. .........14,793,988 .................. ......27,887        ......27,887     ......13,519 02/15/2020 1...........
       0399999.                Total - Bonds - U.S. Government................................................................................................................................... .........29,691,470   .........30,065,884     .........29,559,063 ................66,884 .................0 ..............(697) .................0 ..............(697) ...............0         .........29,557,594      ...............0 .....133,876 .....133,876           ......31,693 ......XXX... ..XXX....
       Bonds - U.S. Special Revenue and Special Assessment
         3128MJ       MB    3 Federal Home Loan Mtg 4.500% 07/01/39. ..... 03/01/2010 Paydown..................................... .............................. ..............484,154                                 ..............484,154   ..............483,625   ..............483,621 .................... ...............534 .................... ...............534 .................. ..............484,154 .................. .................. ...............0   ........3,607 07/01/2039 1FE......
        3128MM        KU    6 Federal Home Loan Mtg 4.500% 04/01/24 ..... 03/24/2010 UBS............................................ .............................. .........44,135,665                                 .........42,425,392     .........43,704,782     .........43,663,419 .................... .........(36,587) .................... .........(36,587) .................. .........43,626,832 .................. .....508,833 .....508,833 .....572,743 04/01/2024 1FE......
        3128MM        KU    6 Federal Home Loan Mtg 4.500% 04/01/24 ..... 03/01/2010 Paydown..................................... .............................. ...........2,084,318                                   ...........2,084,318    ...........2,147,173    ...........2,145,141 .................... .........(60,823) .................... .........(60,823) .................. ...........2,084,318 .................. .................. ...............0       ......13,778 04/01/2024 1FE......
         312926       2U    1 Federal Home Ln Mtg 6.000% 08/01/38..... ..... 03/09/2010 Keybanc Capital Markets............ .............................. .........10,893,904                                          .........10,084,030     .........10,236,866     .........10,232,735 .................... ............2,263 .................... ............2,263 .................. .........10,234,998 .................. .....658,906 .....658,906 .....169,748 08/01/2038 1FE......
QE05




         312926       2U    1 Federal Home Ln Mtg 6.000% 08/01/38..... ..... 03/01/2010 Paydown..................................... .............................. ..............244,747                               ..............244,747   ..............248,457   ..............248,356 .................... ...........(3,609) .................... ...........(3,609) .................. ..............244,747 .................. .................. ...............0   ........3,455 08/01/2038 1FE......
         31292H       X3    3 Federal Home Ln Mtg 5.000% 08/01/33..... ..... 03/01/2010 Paydown..................................... .............................. ..............786,803                               ..............786,803   ..............813,542   ..............813,030 .................... .........(26,228) .................... .........(26,228) .................. ..............786,803 .................. .................. ...............0     ........6,669 08/01/2033 1FE......
         31292J       BR    0 Federal Home Ln Mtg 6.000% 06/01/34..... ..... 03/09/2010 Deutsche Bank-Alex Brown........ .............................. ...........3,560,403                                            ...........3,280,533    ...........3,354,089    ...........3,351,326 .................... ...............736 .................... ...............736 .................. ...........3,352,061 .................. .....208,342 .....208,342               ......55,222 06/01/2034 1FE......
         31292J       BR    0 Federal Home Ln Mtg 6.000% 06/01/34..... ..... 03/01/2010 Paydown..................................... .............................. ..............257,323                               ..............257,323   ..............263,092   ..............262,875 .................... ...........(5,553) .................... ...........(5,553) .................. ..............257,323 .................. .................. ...............0   ........3,093 06/01/2034 1FE......
         312933       NC    4 FREDDIE MAC A86687 4.500% 06/01/39.. ..... 03/01/2010 Paydown..................................... .............................. ..............368,009                                   ..............368,009   ..............361,914   ..............361,972 .................... ............6,036 .................... ............6,036 .................. ..............368,009 .................. .................. ...............0     ........2,812 06/01/2039 1FE......
         31296R       PL    6 Federal Home Ln Mtg 5.000% 12/01/33..... ..... 03/01/2010 Paydown..................................... .............................. ...........1,497,151                                ...........1,497,151    ...........1,547,095    ...........1,546,139 .................... .........(48,988) .................... .........(48,988) .................. ...........1,497,151 .................. .................. ...............0       ......12,874 12/01/2033 1FE......
         31297B       AG    7 FREDDIE MAC A23607 5.500% 06/01/34.. ..... 03/16/2010 Credit Suisse.............................. .............................. .........34,036,230                                      .........31,972,974     .........34,071,200     .........34,068,346 .................... ..........14,111 .................... ..........14,111 .................. .........34,082,457 .................. .....(46,227) .....(46,227) .....527,554 06/01/2034 1FE......
         31297B       AG    7 FREDDIE MAC A23607 5.500% 06/01/34.. ..... 03/01/2010 Paydown..................................... .............................. ...........2,570,039                                    ...........2,570,039    ...........2,738,698    ...........2,738,469 .................... .......(168,429) .................... .......(168,429) .................. ...........2,570,039 .................. .................. ...............0         ......23,916 06/01/2034 1FE......
         31297S       SK    2 FREDDIE MAC A36822 4.500% 08/01/35.. ..... 03/01/2010 Paydown..................................... .............................. ...........1,188,119                                    ...........1,188,119    ...........1,177,723    ...........1,177,809 .................... ..........10,309 .................... ..........10,309 .................. ...........1,188,119 .................. .................. ...............0         ......11,248 08/01/2035 1FE......
         31339D       SE    9 Federal Home Ln Mtg 6.000% 02/15/32..... ..... 03/17/2010 Greenwich Capital...................... .............................. .........13,023,715                                      .........11,962,081     .........12,253,656     .........12,114,260 .................... ...........(8,920) .................... ...........(8,920) .................. .........12,105,340 .................. .....918,375 .....918,375 .....221,298 01/15/2032 1FE......
         31339D       SE    9 Federal Home Ln Mtg 6.000% 02/15/32..... ..... 03/01/2010 Paydown..................................... .............................. ..............830,919                               ..............830,919   ..............851,173   ..............841,490 .................... .........(10,571) .................... .........(10,571) .................. ..............830,919 .................. .................. ...............0     ......10,491 01/15/2032 1FE......
         31371G       HP    8 Federal Natl Mtg Assn 9.500% 09/01/17.... ..... 03/01/2010 Paydown..................................... .............................. .....................652 .....................652 .....................701 .....................674 .................... ................(23) .................... ................(23) .................. .....................652 .................. .................. ...............0                 .............10 09/01/2017 1FE......
         31371N       V7    7 Federal Natl Mtg Assn 5.000% 06/01/28.... ..... 03/24/2010 Credit Suisse.............................. .............................. .........18,533,795                                 .........17,751,614     .........18,361,826     .........18,352,125 .................... ............6,451 .................... ............6,451 .................. .........18,358,576 .................. .....175,219 .....175,219 .....251,481 06/01/2028 1FE......
         31371N       V7    7 Federal Natl Mtg Assn 5.000% 06/01/28.... ..... 03/01/2010 Paydown..................................... .............................. ...........1,355,850                               ...........1,355,850    ...........1,402,457    ...........1,401,716 .................... .........(45,866) .................... .........(45,866) .................. ...........1,355,850 .................. .................. ...............0       ......10,917 06/01/2028 1FE......
         31385X       NR    4 Federal Natl Mtg Assn 5.500% 10/01/33.... ..... 03/01/2010 Paydown..................................... .............................. ..............592,821                              ..............592,821   ..............613,385   ..............613,079 .................... .........(20,257) .................... .........(20,257) .................. ..............592,821 .................. .................. ...............0     ........5,165 10/01/2033 1FE......
         31392C       N8    3 Federal Natl Mtg Assn 6.000% 04/25/32..... ..... 03/24/2010 Deutsche Bank-Alex Brown........ .............................. ...........9,021,285                                          ...........8,285,910    ...........8,368,769    ...........8,364,720 .................... ................(20) .................... ................(20) .................. ...........8,364,700 .................. .....656,585 .....656,585 .....162,956 04/25/2032 1FE......
         31392C       N8    3 Federal Natl Mtg Assn 6.000% 04/25/32..... ..... 03/01/2010 Paydown..................................... .............................. ..............443,191                             ..............443,191   ..............447,623   ..............447,406 .................... ...........(4,215) .................... ...........(4,215) .................. ..............443,191 .................. .................. ...............0   ........4,157 04/25/2032 1FE......
         31392G       DB    8 Federal Natl Mtg Assn 6.000% 12/25/32..... ..... 03/01/2010 Paydown..................................... .............................. ..............349,596                             ..............349,596   ..............358,227   ..............352,604 .................... ...........(3,008) .................... ...........(3,008) .................. ..............349,596 .................. .................. ...............0   ........3,636 03/25/2032 1FE......
         31392T       LW    5 Federal Home Ln Mtg 6.000% 08/15/32..... ..... 03/17/2010 UBS Warburg............................. .............................. ...........9,908,921                                    ...........9,122,136    ...........9,270,371    ...........9,174,736 .................... ...............437 .................... ...............437 .................. ...........9,175,173 .................. .....733,748 .....733,748 .....168,760 08/15/2032 1FE......
         31392T       LW    5 Federal Home Ln Mtg 6.000% 08/15/32..... ..... 03/01/2010 Paydown..................................... .............................. ..............854,035                               ..............854,035   ..............867,913   ..............858,959 .................... ...........(4,925) .................... ...........(4,925) .................. ..............854,035 .................. .................. ...............0   ........8,803 08/15/2032 1FE......
         31392V       4N    9 Federal Home Ln Mtg 6.000% 09/15/32..... ..... 03/17/2010 Greenwich Capital...................... .............................. ...........7,789,091                                     ...........7,158,268    ...........7,346,173    ...........7,236,904 .................... ...............776 .................... ...............776 .................. ...........7,237,680 .................. .....551,410 .....551,410 .....132,428 09/15/2032 1FE......
         31392V       4N    9 Federal Home Ln Mtg 6.000% 09/15/32..... ..... 03/01/2010 Paydown..................................... .............................. ..............757,858                               ..............757,858   ..............777,752   ..............766,184 .................... ...........(8,325) .................... ...........(8,325) .................. ..............757,858 .................. .................. ...............0   ........9,727 09/15/2032 1FE......
         31396E WE          2 Federal Home Ln Mtg 5.500% 04/15/31..... ..... 03/01/2010 Paydown..................................... .............................. ................24,574 ................24,574 ................24,339 ................24,439 .................... ...............134 .................... ...............134 .................. ................24,574 .................. .................. ...............0                                ...........338 04/15/2031 1FE......
         31398E       DS    0 Federal Home Ln Mtg 5.000% 06/15/39..... ..... 03/01/2010 Paydown..................................... .............................. ..............656,326                               ..............656,326   ..............636,404   ..............631,521 .................... ..........19,370 .................... ..........19,370 .................. ..............656,326 .................. .................. ...............0       ........8,170 06/15/2039 1FE......
           Statement as of March 31, 2010 of the             Life Insurance Company of the Southwest
                                                                                                                                                                                                                         SCHEDULE D - PART 4
                                                                                                                                              Show All Long-Term Bonds and Stock Sold, Redeemed or Otherwise Disposed of During the Current Quarter
                    1                                       2                               3          4                             5                                  6                          7                        8                         9                        10                            Change in Book/Adjusted Carrying Value                                                          16                    17                18                19              20             21          22
                                                                                            F                                                                                                                                                                                                        11          12            13             14                                       15                                                                                                                        NAIC
                                                                                            o                                                                                                                                                                                                                                Current                                                                                           Foreign                                                 Bond                     Desig-
                                                                                            r                                                                                                                                                                             Prior Year                                         Year's                                                Total                 Book/                Exchange           Realized            Total           Interest/                   nation
                                                                                            e                                                                                                                                                                               Book/               Unrealized     Current     Other Than        Total                                Foreign              Adjusted                 Gain               Gain              Gain             Stock                        or
                                                                                            i                                                                     Number of                                                                                               Adjusted               Valuation     Year's      Temporary      Change in                              Exchange               Carrying               (Loss)             (Loss)            (Loss)          Dividends                   Market
                CUSIP                                                                       g     Disposal                                                        Shares of                                                                                                Carrying              Increase/ (Amortization)/ Impairment      B./A.C.V.                             Change in              Value At                 on                 on                on            Received       Maturity    Indicator
             Identification                           Description                           n       Date                 Name of Purchaser                          Stock                  Consideration               Par Value               Actual Cost                  Value               (Decrease)    Accretion    Recognized (11+12-13)                                 B./A.C.V.           Disposal Date            Disposal           Disposal          Disposal        During Year      Date          (a)


            31401J      GH    5 Federal Natl Mtg Assn 5.000% 07/01/33.... ..... 03/18/2010 Keybanc Capital Markets............ .............................. .........35,861,635                                 .........34,276,354      .........35,497,449       .........35,474,428 .................... ............3,300 .................... ............3,300 .................. .........35,477,728 .................. .....383,907 .....383,907 .....533,188 07/01/2033 1FE......
            31401J      GH    5 Federal Natl Mtg Assn 5.000% 07/01/33.... ..... 03/01/2010 Paydown..................................... .............................. ...........1,580,150                       ...........1,580,150     ...........1,636,443      ...........1,635,382 .................... .........(55,232) .................... .........(55,232) .................. ...........1,580,150 .................. .................. ...............0             ......15,677 07/01/2033 1FE......
           31402C       PL    0 Federal Natl Mtg Assn 5.000% 11/01/33.... ..... 03/01/2010 Paydown..................................... .............................. ...........1,243,183                       ...........1,243,183     ...........1,280,169      ...........1,279,553 .................... .........(36,370) .................... .........(36,370) .................. ...........1,243,183 .................. .................. ...............0             ........9,677 11/01/2033 1FE......
           31402R       F8    7 Federal National Mortg 5.000% 06/01/35.... ..... 03/01/2010 Paydown..................................... .............................. ..............679,334                     ..............679,334    ..............697,485     ..............697,198 .................... .........(17,864) .................... .........(17,864) .................. ..............679,334 .................. .................. ...............0           ........5,397 06/01/2035 1FE......
           31402R       FU    8 Federal National Mortg 5.000% 06/01/35.... ..... 02/18/2010 Credit Suisse.............................. .............................. .........26,474,635                        .........25,444,911      .........26,124,767       .........26,114,828 .................... ............2,090 .................... ............2,090 .................. .........26,116,918 .................. .....357,717 .....357,717 .....289,789 06/01/2035 1FE......
           31402R       FU    8 Federal National Mortg 5.000% 06/01/35.... ..... 02/01/2010 Paydown..................................... .............................. ..............809,401                     ..............809,401    ..............831,027     ..............830,711 .................... .........(21,310) .................... .........(21,310) .................. ..............809,401 .................. .................. ...............0           ........5,031 06/01/2035 1FE......
           31402R       FV    6 Federal National Mortg 5.000% 06/01/35.... ..... 02/18/2010 Greenwich Capital...................... .............................. .........23,041,490                            .........22,145,298      .........22,698,930       .........22,693,602 .................... ............1,698 .................... ............1,698 .................. .........22,695,300 .................. .....346,190 .....346,190 .....252,210 06/01/2035 1FE......
           31402R       FV    6 Federal National Mortg 5.000% 06/01/35.... ..... 02/01/2010 Paydown..................................... .............................. ..............683,487                     ..............683,487    ..............700,574     ..............700,410 .................... .........(16,923) .................... .........(16,923) .................. ..............683,487 .................. .................. ...............0           ........4,216 06/01/2035 1FE......
           31402R       JV    2 Federal National Mortg 5.000% 07/01/35.... ..... 03/01/2010 Paydown..................................... .............................. ...........1,320,004                      ...........1,320,004     ...........1,355,273      ...........1,354,763 .................... .........(34,759) .................... .........(34,759) .................. ...........1,320,004 .................. .................. ...............0             ......10,510 07/01/2035 1FE......
           31412N       BX    3 Federal National Mortg 6.000% 08/01/38.... ..... 03/16/2010 Keycorp Capital.......................... .............................. .........26,735,578                          .........25,100,147      .........25,786,479       .........25,772,317 .................... ............5,501 .................... ............5,501 .................. .........25,777,819 .................. .....957,760 .....957,760 .....451,803 08/01/2038 1FE......
           31412N       BX    3 Federal National Mortg 6.000% 08/01/38.... ..... 03/01/2010 Paydown..................................... .............................. ..............564,244                     ..............564,244    ..............579,672     ..............579,354 .................... .........(15,110) .................... .........(15,110) .................. ..............564,244 .................. .................. ...............0           ........6,452 08/01/2038 1FE......
           31412P       W5    6 Federal Natl Mtg Assn 4.500% 06/01/29.... ..... 03/01/2010 Paydown..................................... .............................. ..............975,705                      ..............975,705    ..............967,320     ..............967,436 .................... ............8,269 .................... ............8,269 .................. ..............975,705 .................. .................. ...............0           ........6,602 06/01/2029 1FE......
QE05.1




           31415M       FQ    3 Federal Natl Mortg Assn 4.500% 06/01/23.. ..... 01/14/2010 Credit Suisse.............................. .............................. .........19,055,844                         .........18,344,976      .........18,918,256       .........18,898,258 .................... ............4,144 .................... ............4,144 .................. .........18,902,401 .................. .....153,442 .....153,442 .....112,363 06/01/2023 1FE......
           31415M       FQ    3 Federal Natl Mortg Assn 4.500% 06/01/23.. ..... 01/01/2010 Paydown..................................... .............................. ..............402,922                      ..............402,922    ..............415,514     ..............415,075 .................... .........(12,152) .................... .........(12,152) .................. ..............402,922 .................. .................. ...............0           ........1,511 06/01/2023 1FE......
           31415Y WQ          8 Fannie Mae 993555 5.000% 04/01/39........ ..... 03/24/2010 Keybanc Capital Markets............ .............................. .........49,611,076                                 .........47,825,107      .........49,334,587       .........49,313,296 .................... .........(16,426) .................... .........(16,426) .................. .........49,296,870 .................. .....314,206 .....314,206 .....677,522 04/01/2039 1FE......
           31415Y WQ          8 Fannie Mae 993555 5.000% 04/01/39........ ..... 03/01/2010 Paydown..................................... .............................. ..............779,015                      ..............779,015    ..............803,602     ..............803,255 .................... .........(24,241) .................... .........(24,241) .................. ..............779,015 .................. .................. ...............0           ........8,530 04/01/2039 1FE......
           31416H       4X    0 Fannie Mae AA0837 4.500% 01/01/39....... ..... 03/01/2010 Paydown..................................... .............................. ...........3,489,526                        ...........3,489,526     ...........3,456,266      ...........3,456,570 .................... ..........32,955 .................... ..........32,955 .................. ...........3,489,526 .................. .................. ...............0               ......22,665 01/01/2039 1FE......
            31416J MH         1 Fannie Mae AA1259 4.500% 09/01/35....... ..... 03/01/2010 Paydown..................................... .............................. ...........1,507,254                        ...........1,507,254     ...........1,503,957      ...........1,503,932 .................... ............3,323 .................... ............3,323 .................. ...........1,507,254 .................. .................. ...............0             ......10,579 09/01/2035 1FE......
           31416R       Y9    8 Fannie Mae AA7935 4.500% 01/01/35....... ..... 03/01/2010 Paydown..................................... .............................. ...........1,940,306                        ...........1,940,306     ...........1,924,541      ...........1,924,767 .................... ..........15,539 .................... ..........15,539 .................. ...........1,940,306 .................. .................. ...............0               ......12,850 01/01/2035 1FE......
           31416R       YP    2 Fannie Mae AA7917 4.500% 01/01/35....... ..... 03/01/2010 Paydown..................................... .............................. ...........1,205,486                        ...........1,205,486     ...........1,200,965      ...........1,200,974 .................... ............4,512 .................... ............4,512 .................. ...........1,205,486 .................. .................. ...............0             ........8,591 01/01/2035 1FE......
           31416R       ZA    4 Fannie Mae AA7936 4.500% 01/01/36....... ..... 03/01/2010 Paydown..................................... .............................. ...........2,148,298                        ...........2,148,298     ...........2,141,750      ...........2,141,744 .................... ............6,554 .................... ............6,554 .................. ...........2,148,298 .................. .................. ...............0             ......15,393 01/01/2036 1FE......
           31417K       LX    3 Fannie Mae AC1241 5.000% 07/01/39....... ..... 03/01/2010 Paydown..................................... .............................. ..............275,595                       ..............275,595    ..............281,452     ..............281,395 .................... ...........(5,800) .................... ...........(5,800) .................. ..............275,595 .................. .................. ...............0         ........2,012 07/01/2039 1FE......
           31417Y       DC    8 Federal Natl Mtg Assn 4.000% 06/01/29.... ..... 03/18/2010 Credit Suisse.............................. .............................. .........38,690,282                         .........38,444,000      .........36,629,924       .........36,669,289 .................... ..........12,808 .................... ..........12,808 .................. .........36,682,098 .................. ..2,008,184 ..2,008,184 .....478,414 06/01/2029 1FE......
           31417Y       DC    8 Federal Natl Mtg Assn 4.000% 06/01/29.... ..... 03/01/2010 Paydown..................................... .............................. ..............468,562                      ..............468,562    ..............446,452     ..............446,932 .................... ..........21,630 .................... ..........21,630 .................. ..............468,562 .................. .................. ...............0             ........3,242 06/01/2029 1FE......
           36297K       ZU    8 Government National 4.500% 06/15/39....... ..... 03/01/2010 Paydown..................................... .............................. ..............510,062                     ..............510,062    ..............509,983     ..............509,973 .................... .................89 .................... .................89 .................. ..............510,062 .................. .................. ...............0       ........3,249 06/15/2039 1FE......
           38373M       4Z    0 Government Natl Mtg 1.664% 10/16/48...... ..... 03/01/2010 Paydown..................................... .............................. ............................ ............................ ................24,121 ................23,976 .................... .........(23,976) .................... .........(23,976) .................. ............................ .................. .................. ...............0                ...........789 10/16/2048 1FE......
           38373T       K2    0 Government Natl Mtg 6.500% 11/20/31...... ..... 03/01/2010 Paydown..................................... .............................. ..............254,071                      ..............254,071    ..............259,153     ..............254,670 .................... ..............(599) .................... ..............(599) .................. ..............254,071 .................. .................. ...............0       ........2,469 04/20/2011 1FE......
           38374V       AX    7 Government Natl Mtg 4.500% 07/20/37...... ..... 01/25/2010 Goldman Sachs & Company....... .............................. .........45,344,254                                      .........45,287,644      .........45,146,120       .........45,146,943 .................... ...............197 .................... ...............197 .................. .........45,147,140 .................. .....197,114 .....197,114 .....322,674 07/20/2037 1FE......
           3837H0       JB    0 Government Natl Mtg 8.050% 06/16/25...... ..... 03/01/2010 Paydown..................................... .............................. ..................3,720 ..................3,720 ..................3,830 ..................3,790 .................... ................(70) .................... ................(70) .................. ..................3,720 .................. .................. ...............0                       .............51 06/16/2025 1FE......
           043175       AB    4 Aruba Airport Authority 7.700% 01/01/13..... F... 01/04/2010 Call                         100.0000........................ .............................. ................91,000 ................91,000 ................92,492 ................91,476 .................... ..................(1) .................... ..................(1) .................. ................91,475 .................. ..........(475) ..........(475) ........3,504 01/01/2013 2FE......
         3199999.                Total - Bonds - U.S. Special Revenue & Assessment.................................................................................................... .......451,995,613         .......435,189,185       .......443,977,578        .......443,460,352 .................0        .......(553,414) .................0      .......(553,414) ...............0       .......442,912,376 ...............0 ..9,083,236 ..9,083,236 ..5,682,016 ......XXX... ..XXX....
         Bonds - Industrial and Miscellaneous
           00111@       AA    2 AES Hawaii Inc 6.870% 06/30/22................ ..... 03/31/2010 Redemption                           100.0000............ .............................. ................49,000 ................49,000 ................49,000 ................49,000 .................... ...................... .................... ...................0 .................. ................49,000 .................. .................. ...............0        ...........842 06/30/2022 2...........
            00113*      AA    2 AEP Generating Company 6.330% 09/30/37 ..... 03/31/2010 Redemption                                   100.0000............ .............................. ..............148,760    ..............148,760    ..............148,760     ..............148,760 .................... ...................... .................... ...................0 .................. ..............148,760 .................. .................. ...............0   ........4,708 09/30/2037 2...........
           00184A       AB    1 AOL Time Warner Inc 6.750% 04/15/11...... ..... 03/11/2010 Salomon Smith Barney............... .............................. ...........5,331,250                                ...........5,000,000     ...........4,992,520      ...........4,998,728 .................... ...............180 .................... ...............180 .................. ...........4,998,908 .................. .....332,342 .....332,342 .....136,875 04/15/2011 2FE......
           01958X       BN    6 Allied Waste North 7.250% 03/15/15.......... ..... 03/31/2010 Call                        103.6250........................ .............................. .........10,362,500     .........10,000,000      ...........9,450,000      ...........9,507,494 .................... ..........18,649 .................... ..........18,649 .................. ...........9,526,143 .................. .....836,357 .....836,357 .....394,722 03/15/2015 2FE......
         Statement as of March 31, 2010 of the             Life Insurance Company of the Southwest
                                                                                                                                                                                                                             SCHEDULE D - PART 4
                                                                                                                                                 Show All Long-Term Bonds and Stock Sold, Redeemed or Otherwise Disposed of During the Current Quarter
                1                                          2                                3           4                              5                                   6                          7                          8                         9                        10                            Change in Book/Adjusted Carrying Value                                                          16                    17                18                19              20             21          22
                                                                                            F                                                                                                                                                                                                              11         12            13             14                                       15                                                                                                                        NAIC
                                                                                            o                                                                                                                                                                                                                                     Current                                                                                           Foreign                                                 Bond                     Desig-
                                                                                            r                                                                                                                                                                                  Prior Year                                         Year's                                                 Total                Book/                Exchange           Realized            Total           Interest/                   nation
                                                                                            e                                                                                                                                                                                    Book/               Unrealized     Current     Other Than        Total                                 Foreign             Adjusted                 Gain               Gain              Gain             Stock                        or
                                                                                            i                                                                        Number of                                                                                                 Adjusted               Valuation     Year's      Temporary      Change in                               Exchange              Carrying               (Loss)             (Loss)            (Loss)          Dividends                   Market
             CUSIP                                                                          g      Disposal                                                          Shares of                                                                                                  Carrying              Increase/ (Amortization)/ Impairment      B./A.C.V.                              Change in             Value At                 on                 on                on            Received       Maturity    Indicator
          Identification                            Description                             n        Date                  Name of Purchaser                           Stock                  Consideration                Par Value                Actual Cost                  Value               (Decrease)    Accretion    Recognized (11+12-13)                                  B./A.C.V.          Disposal Date            Disposal           Disposal          Disposal        During Year      Date          (a)


         037411     AR     6 Apache Corp 6.000% 01/15/37................... ..... 03/09/2010 JP Morgan.................................. .............................. .........10,479,700                           .........10,000,000       .........10,339,400 ............................ .................... ..............(172) .................... ..............(172) .................. .........10,339,228 .................. .....140,472 .....140,472                  ......95,000 01/15/2037 1FE......
         04004#     AA     2 Center Operating Co 8.200% 09/30/23........ ..... 03/31/2010 Redemption                                   100.0000............ .............................. ................16,626 ................16,626 ................16,626 ................16,626 .................... ...................... .................... ...................0 .................. ................16,626 .................. .................. ...............0           ...........341 09/30/2023 2FE......
         05526X     AA     9 BASF Ser 2000-A1 7.930% 02/16/12.......... ..... 02/16/2010 Redemption                                    100.0000............ .............................. ..............494,387      ..............494,387     ..............494,387     ..............494,387 .................... ...................... .................... ...................0 .................. ..............494,387 .................. .................. ...............0   ......19,602 02/16/2012 1...........
         12644@     AB     1 Home Depot Nanuet 6.860% 04/15/10........ ..... 02/01/2010 Redemption                                     100.0000............ .............................. ...........2,282,093       ...........2,282,093      ...........2,282,093      ...........2,282,093 .................... ...................... .................... ...................0 .................. ...........2,282,093 .................. .................. ...............0     ......65,230 04/15/2010 2...........
         14911Q     SR     3 Caterpillar Financial 5.250% 03/15/19......... ..... 03/15/2010 Call                           100.0000........................ .............................. .........10,000,000       .........10,000,000       ...........9,875,000      ...........9,912,311 .................... ............1,487 .................... ............1,487 .................. ...........9,913,799 .................. ......86,201                  ......86,201 .....262,500 03/15/2019 1FE......
         17275R     AF     9 Cisco Systems Inc 5.500% 01/15/40........... ..... 03/09/2010 Banc of America Securities......... .............................. ...........2,868,630                                    ...........3,000,000      ...........2,830,140 ............................ .................... ...............131 .................... ...............131 .................. ...........2,830,271 .................. ......38,359             ......38,359      ......26,125 01/15/2040 1FE......
         25654#     AA     0 Dodgers Tickets LLC 5.660% 03/31/30....... ..... 03/31/2010 Redemption                                    100.0000............ .............................. ..............279,025      ..............279,025     ..............279,025     ..............279,025 .................... ...................... .................... ...................0 .................. ..............279,025 .................. .................. ...............0   ......15,793 03/31/2030 2...........
         30256Y     AA     1 FPL Energy Marcus Hook 7.590% 07/10/18 ..... 01/11/2010 Redemption                                        100.0000............ .............................. ................95,371 ................95,371 ................95,371 ................95,371 .................... ...................... .................... ...................0 .................. ................95,371 .................. .................. ...............0           ........3,619 07/10/2018 2...........
         30257F     AA     1 FPL Energy National 6.125% 03/25/19....... ..... 03/25/2010 Redemption                                    100.0000............ .............................. ................90,600 ................90,600 ................89,751 ................89,960 .................... .................12 .................... .................12 .................. ................89,972 .................. ...........628                  ...........628    ........2,775 03/25/2019 3FE......
         30257G     AA     9 FPL Energy National 5.608% 03/10/24....... ..... 03/10/2010 Redemption                                    100.0000............ .............................. ..............285,360      ..............285,360     ..............287,516     ..............287,169 .................... ................(16) .................... ................(16) .................. ..............287,153 .................. .......(1,793) .......(1,793) ........8,002 03/10/2024 2FE......
         31331F     AK     7 Federal Express 7.630% 01/05/14.............. ..... 01/05/2010 Redemption                                 100.0000............ .............................. ..............267,317      ..............267,317     ..............267,317     ..............267,317 .................... ...................... .................... ...................0 .................. ..............267,317 .................. .................. ...............0   ......10,198 01/05/2014 2FE......
         31331F     AN     1 Federal Express 7.110% 01/02/14.............. ..... 01/02/2010 Redemption                                 100.0000............ .............................. ..............147,098      ..............147,098     ..............147,098     ..............147,098 .................... ...................... .................... ...................0 .................. ..............147,098 .................. .................. ...............0   ........5,229 01/02/2014 2FE......
QE05.2




                             Freeport LNG Developmen 6.500%
         35669#     AA     2 12/19/25                                                      ..... 03/31/2010 Redemption                 100.0000............ .............................. ................52,242 ................52,242 ................52,242 ................52,242 .................... ...................... .................... ...................0 .................. ................52,242 .................. .................. ...............0           ...........849 12/19/2025 2Z........
         361452     AA     3 GATX Rail Corp 8.100% 01/13/20............... ..... 01/13/2010 Redemption                                 100.0000............ .............................. ..............202,873      ..............202,873     ..............202,873     ..............202,873 .................... ...................... .................... ...................0 .................. ..............202,873 .................. .................. ...............0   ........8,216 01/13/2020 1FE......
         36804P     AF     3 GATX Financial 144A 5.697% 01/02/25...... ..... 01/02/2010 Redemption                                     100.0000............ .............................. ................42,168 ................42,168 ................42,168 ................42,168 .................... ...................... .................... ...................0 .................. ................42,168 .................. .................. ...............0           ........1,201 01/02/2025 1FE......
         396789     ES     4 Greenwich Capital Com 4.915% 01/05/36.. ..... 03/30/2010 JP Morgan.................................. .............................. .........15,839,063                                  .........15,000,000       .........12,721,875       .........13,221,198 .................... ........116,454 .................... ........116,454 .................. .........13,337,652 .................. ..2,501,411 ..2,501,411 .....192,504 01/05/2036 1FE......
         49228R     AC     7 Kern River Funding Corp 6.676% 07/31/16. ..... 03/31/2010 Redemption                                      100.0000............ .............................. ................76,328 ................76,328 ................77,140 ................76,783 .................... ..................(9) .................... ..................(9) .................. ................76,773 .................. ..........(445) ..........(445) ...........849 07/31/2016 1FE......
         50075N     AZ     7 Kraft Foods Inc 6.500% 02/09/40................ ..... 03/09/2010 Greenwich Capital...................... .............................. .........11,482,570                              .........11,000,000       .........11,048,730 ............................ .................... ...................... .................... ...................0 .................. .........11,048,730 .................. .....433,840 .....433,840              ......67,528 02/09/2040 2FE......
         548661     CP     0 Lowes Companies Inc 6.650% 09/15/37..... ..... 03/09/2010 Citigroup Global.......................... .............................. ...........5,618,000                                 ...........5,000,000      ...........5,502,200 ............................ .................... ..............(161) .................... ..............(161) .................. ...........5,502,039 .................. .....115,961 .....115,961 .....163,479 09/15/2037 1FE......
         5525V0     AL     0 Marshall & Ilsley Bank 4.670% 03/19/15..... ..... 03/19/2010 Call                              100.0000........................ .............................. ...........9,500,000      ...........9,500,000      ...........9,135,755      ...........9,293,264 .................... ............7,355 .................... ............7,355 .................. ...........9,300,619 .................. .....199,381 .....199,381 .....221,825 03/19/2015 2FE......
         58013M     EC     4 McDonalds Corp 6.300% 10/15/37.............. ..... 03/09/2010 Citigroup Global.......................... .............................. ...........7,601,720                             ...........7,000,000      ...........7,461,440 ............................ .................... ..............(113) .................... ..............(113) .................. ...........7,461,327 .................. .....140,393 .....140,393 .....180,075 10/15/2037 1FE......
         61910D     DC     3 Mortgage Capital Fdg 1.988% 11/20/12...... ..... 03/01/2010 Paydown..................................... .............................. ............................ ............................ ............................ ............................ .................... ...................... .................... ...................0 .................. ............................ .................. .................. ...............0   ...............3 05/29/2018 1FE......
         62963#     AE     1 Natural Resource Part 5.820% 03/28/24..... ..... 03/28/2010 Redemption                                    100.0000............ .............................. ..............666,667      ..............666,667     ..............666,667     ..............666,667 .................... ...................... .................... ...................0 .................. ..............666,667 .................. .................. ...............0   ......19,400 03/28/2024 2...........
         63250@     AE     3 National Amusements Inc 10.000% 12/31/10 ..... 02/10/2010 Redemption                                      100.0000............ .............................. ..............171,374      ..............171,374     ..............171,374     ..............171,374 .................... ...................... .................... ...................0 .................. ..............171,374 .................. .................. ...............0   ........5,590 12/31/2010 4...........
         64079*     AB     8 Neptune Regional 6.210% 06/30/27............ ..... 03/31/2010 Redemption                                  100.0000............ .............................. ................34,819 ................34,819 ................34,819 ................34,819 .................... ...................... .................... ...................0 .................. ................34,819 .................. .................. ...............0           ...........541 06/30/2027 2Z........
         739227     AA     4 Power Contract Fin 6.256% 02/01/10.......... ..... 02/01/2010 Redemption                                  100.0000............ .............................. ..............949,210      ..............949,210     ..............979,580     ..............949,770 .................... ..............(560) .................... ..............(560) .................. ..............949,210 .................. .................. ...............0       ......29,691 02/01/2010 2FE......
         78126#     AA     9 Rudolfs Engine LLC 9.050% 07/01/11........ ..... 01/01/2010 Redemption                                    100.0000............ .............................. ..............172,678      ..............172,678     ..............172,678     ..............172,678 .................... ...................... .................... ...................0 .................. ..............172,678 .................. .................. ...............0   ........7,814 07/01/2011 3...........
         84254Q     AA     7 Southern Capital Corp 5.700% 06/30/22.... ..... 01/01/2010 Redemption                                     100.0000............ .............................. ...............(12,160) ...............(12,160) ...............(12,160) ...............(12,160) .................... ...................... .................... ...................0 .................. ...............(12,160) .................. .................. ...............0 .................. 06/30/2022 3FE......
                             SW AIRLINES 07-1 TRUST 6.150%
         84474Y     AA     4 08/01/22                                                      ..... 02/01/2010 Redemption                 100.0000............ .............................. ..............211,040      ..............211,040     ..............186,468     ..............187,460 .................... .................94 .................... .................94 .................. ..............187,554 .................. ......23,485            ......23,485      ........6,489 08/01/2022 1FE......
         87305N     AV     0 TTX Ser 2004-A1 5.453% 01/02/22............. ..... 01/02/2010 Redemption                                  100.0000............ .............................. ..............113,288      ..............113,288     ..............113,288     ..............113,288 .................... ...................... .................... ...................0 .................. ..............113,288 .................. .................. ...............0   ........3,083 01/02/2022 1...........
         880314     AA     7 Tenaska Wash Partners 6.790% 09/23/11. ..... 03/23/2010 Redemption                                        100.0000............ .............................. ................26,455 ................26,455 ................26,455 ................26,455 .................... ...................... .................... ...................0 .................. ................26,455 .................. .................. ...............0           ...........898 09/23/2011 2FE......
         88031V     AA     7 Tenaska Gateway Partner 6.052% 12/30/23 ..... 03/30/2010 Redemption                                       100.0000............ .............................. ................67,581 ................67,581 ................67,581 ................67,581 .................... ...................... .................... ...................0 .................. ................67,581 .................. .................. ...............0           ........1,022 12/30/2023 2FE......
                             UNP RR CO 2006 PASS TRS 5.866%
         90783W     AA     1 07/02/30                                                      ..... 01/04/2010 Redemption                 100.0000............ .............................. ..............134,537      ..............134,537     ..............132,707     ..............132,753 .................... ...................... .................... ...................0 .................. ..............132,754 .................. ........1,784       ........1,784     ........3,946 07/02/2030 1FE......
         911312     AJ     5 United Parcel Service 6.200% 01/15/38...... ..... 03/09/2010 Citigroup Global.......................... .............................. ...........2,162,100                              ...........2,000,000      ...........2,133,160 ............................ .................... ................(77) .................... ................(77) .................. ...........2,133,083 .................. ......29,017         ......29,017      ......19,633 01/15/2038 1FE......
            Statement as of March 31, 2010 of the              Life Insurance Company of the Southwest
                                                                                                                                                                                                                                           SCHEDULE D - PART 4
                                                                                                                                                           Show All Long-Term Bonds and Stock Sold, Redeemed or Otherwise Disposed of During the Current Quarter
                    1                                          2                                   3           4                                5                                       6                            7                         8                       9                      10                             Change in Book/Adjusted Carrying Value                                                          16                    17                18                19              20             21          22
                                                                                                   F                                                                                                                                                                                                                 11          12            13             14                                       15                                                                                                                        NAIC
                                                                                                   o                                                                                                                                                                                                                                         Current                                                                                           Foreign                                                 Bond                     Desig-
                                                                                                   r                                                                                                                                                                                     Prior Year                                          Year's                                                Total                  Book/               Exchange           Realized            Total           Interest/                   nation
                                                                                                   e                                                                                                                                                                                       Book/                Unrealized     Current     Other Than        Total                                Foreign               Adjusted                Gain               Gain              Gain             Stock                        or
                                                                                                   i                                                                             Number of                                                                                               Adjusted                Valuation     Year's      Temporary      Change in                              Exchange                Carrying              (Loss)             (Loss)            (Loss)          Dividends                   Market
                CUSIP                                                                              g      Disposal                                                               Shares of                                                                                                Carrying               Increase/ (Amortization)/ Impairment      B./A.C.V.                             Change in               Value At                on                 on                on            Received       Maturity    Indicator
             Identification                             Description                                n        Date                    Name of Purchaser                              Stock                    Consideration                Par Value              Actual Cost                Value                (Decrease)    Accretion    Recognized (11+12-13)                                 B./A.C.V.            Disposal Date           Disposal           Disposal          Disposal        During Year      Date          (a)


            91324P      AL    6 UnitedHealth Group Inc 5.000% 08/15/14... ..... 01/20/2010 JP Morgan.................................. .............................. ...........6,258,540                                           ...........6,000,000    ...........5,944,680    ...........5,970,945 .................... ...............573 .................... ...............573 .................. ...........5,971,518 .................. .....287,022 .....287,022 .....324,167 08/15/2014 2FE......
            91324P      AQ    5 UnitedHealth Group Inc 5.375% 03/15/16... ..... 01/20/2010 JP Morgan.................................. .............................. ...........3,117,060                                           ...........3,000,000    ...........2,988,660    ...........2,992,350 .................... ...............109 .................... ...............109 .................. ...........2,992,459 .................. .....124,601 .....124,601 .....154,052 03/15/2016 2FE......
            924172      E*    6 Vermont Electric Power 7.420% 01/01/12... ..... 01/01/2010 Redemption                                           100.0000............ .............................. ................24,444 ................24,444 ................24,444 ................24,444 .................... ...................... .................... ...................0 .................. ................24,444 .................. .................. ...............0             ...........453 01/01/2012 1...........
            92978*      AA    3 International Gr 6.245% 03/31/25................ ..... 03/10/2010 Redemption                                    100.0000............ .............................. ................34,760 ................34,760 ................34,760 ................34,760 .................... ...................... .................... ...................0 .................. ................34,760 .................. .................. ...............0             ...........362 03/31/2025 2...........
            969457      BF    6 Williams Cos Inc 7.125% 09/01/11.............. ..... 02/17/2010 Redemption                                      106.5000............ .............................. ...........5,325,000             ...........5,000,000    ...........4,985,350    ...........4,996,846 .................... ...............231 .................... ...............231 .................. ...........4,997,077 .................. .....327,923 .....327,923 .....314,271 09/01/2011 2FE......
            981469      AA    7 World Financial Props 6.950% 09/01/13..... ..... 03/01/2010 Redemption                                          100.0000............ .............................. ..............470,728            ..............470,728   ..............469,373   ..............469,732 .................... .................22 .................... .................22 .................. ..............469,753 .................. ...........975          ...........975    ........5,463 09/01/2013 1FE......
            032479      AC    1 Anadarko Finance 6.750% 05/01/11............ A.. 03/11/2010 Credit Suisse.............................. .............................. ...........2,127,700                                          ...........2,000,000    ...........1,992,680    ...........1,998,748 .................... ...............185 .................... ...............185 .................. ...........1,998,933 .................. .....128,767 .....128,767                     ......50,625 05/01/2011 2FE......
            136380      AA    0 Canadian National Rail 6.719% 01/02/13.... A.. 01/04/2010 Redemption                                            100.0000............ .............................. ..............876,565            ..............876,565   ..............831,299   ..............862,415 .................... .................35 .................... .................35 .................. ..............862,450 .................. ......14,115            ......14,115      ......58,896 01/02/2013 1FE......
            060340      A*    7 Banistmo CC Receivables 5.858% 12/15/11 F... 03/15/2010 Redemption                                              100.0000............ .............................. ..............195,587            ..............195,587   ..............195,587   ..............195,587 .................... ...................... .................... ...................0 .................. ..............195,587 .................. .................. ...............0   ........1,913 12/15/2011 1...........
            92857T      AG    2 Vodafone Airtouch PLC 7.750% 02/15/10... F... 02/15/2010 Maturity...................................... .............................. ...........5,575,000                                          ...........5,575,000    ...........5,898,183    ...........5,581,435 .................... ...........(6,435) .................... ...........(6,435) .................. ...........5,575,000 .................. .................. ...............0 .....216,031 02/15/2010 1FE......
         3899999.                Total - Bonds - Industrial & Miscellaneous..................................................................................................................... .......122,315,654                  .......117,741,821      .......115,926,060      .........77,101,814 .................0        ........137,974 .................0       ........137,974      ...............0   .......116,554,858 ...............0 ..5,760,796 ..5,760,796 ..3,112,430 ......XXX... ..XXX....
         Bonds - Credit Tenant Loans
QE05.3




           52467@       AJ    4 Stop & Shop 7.539% 11/15/26.................... ..... 03/15/2010 Redemption                                     100.0000............ .............................. ................18,584 ................18,584 ................18,776 ................18,749 .................... ..................(1) .................... ..................(1) .................. ................18,748 .................. ..........(164) ..........(164) ...........234 11/15/2026 3Z*.......
         4199999.                Total - Bonds - Credit Tenant Loans.............................................................................................................................. ................18,584 ................18,584 ................18,776 ................18,749 .................0 ..................(1) .................0 ..................(1) ...............0 ................18,748 ...............0                      ..........(164) ..........(164) ...........234 ......XXX... ..XXX....
         Bonds - Hybrid Securities
            94986E      AA    8 Wells Fargo Capital XII 7.700% Perpet....... ..... 03/09/2010 JP Morgan.................................. .............................. ...........2,763,750                                        ...........2,750,000    ...........2,750,000    ...........2,750,000 .................... ...................... .................... ...................0 .................. ...........2,750,000 .................. ......13,750          ......13,750      ......97,640 01/01/9999 1FE......
         4899999.                Total - Bonds - Hybrid Securities................................................................................................................................... ...........2,763,750           ...........2,750,000    ...........2,750,000    ...........2,750,000 .................0 ...................0 .................0 ...................0 ...............0          ...........2,750,000 ...............0      ......13,750      ......13,750      ......97,640 ......XXX... ..XXX....
         8399997.                Total - Bonds - Part 4.................................................................................................................................................... .......606,785,071       .......585,765,474      .......592,231,477      .......523,397,799 .................0        .......(416,138) .................0      .......(416,138) ...............0        .......591,793,576 ...............0 14,991,494 14,991,494 ..8,924,013 ......XXX... ..XXX....
         8399999.                Total - Bonds................................................................................................................................................................. .......606,785,071   .......585,765,474      .......592,231,477      .......523,397,799 .................0        .......(416,138) .................0      .......(416,138) ...............0        .......591,793,576 ...............0 14,991,494 14,991,494 ..8,924,013 ......XXX... ..XXX....
         9999999.                Total - Bonds, Preferred and Common Stocks............................................................................................................... .......606,785,071 ...........XXX.......... .......592,231,477                            .......523,397,799 .................0        .......(416,138) .................0      .......(416,138) ...............0        .......591,793,576 ...............0 14,991,494 14,991,494 ..8,924,013 ......XXX... ..XXX....
         (a) For all common stock bearing the NAIC market indicator "U" provide: the number of such issues:...............0.
         Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                  SCHEDULE DB - PART A - SECTION 1
                                                                                                                                         Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                      1                                     2                             3              4                    5                    6              7                8                 9                  10                  11                 12                  13                    14              15            16                  17                  18                       19                   20                      21                    22                  23
                                                     Description of                                                                                                                                                   Strike            Prior Year       Current Year                                                                                                         Total                                     Adjustment                                                           Hedge
                                                     Items Hedged                                                                                                                                                  Price, Rate         Initial Cost       Initial Cost                                 Book/                                         Unrealized              Foreign               Current              to Carrying                                   Credit             Effectiveness
                                                       or Used for                   Schedule                                                                Date of                                               of Indexed          of Premium        of Premium             Current               Adjusted                                        Valuation             Exchange               Year's                 Value of                                   Quality of           at Inception
                                                         Income                       /Exhibit       Type(s)           Exchange or              Trade       Maturity or      Number of           Notional           Received            Received           Received               Year                Carrying                        Fair            Increase              Change in           (Amortization)            Hedged                Potential            Reference               and at
                 Description                           Generation                    Identifier      of Risk           Counterparty             Date        Expiration       Contracts           Amount               (Paid)              (Paid)             (Paid)             Income                 Value           Code          Value           (Decrease)             B./A.C.V.             Accretion                Items                Exposure               Entity           Quarter-end (a)

       Purchased Options - Hedging Effective - Call Options and Warrants
       S&P 500 OTC Call Option
       9PG832VN SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........22,261 ...................... 1114.............. .....2,083,184 ...................... ...................... ...........2,264,420 ....... .....2,264,420                ........223,650 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VJ SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........17,324 ...................... 1114.............. .....1,621,180 ...................... ...................... ...........1,762,222 ....... .....1,762,222                ........174,050 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VH SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ..........8,527 ...................... 1114.............. ........797,958 ...................... ...................... ..............867,378 ....... ........867,378            ..........85,668 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VL SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........60,590 ...................... 1114.............. .....5,670,012 ...................... ...................... ...........6,163,300 ....... .....6,163,300                ........608,730 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VP SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........21,633 ...................... 1114.............. .....2,024,416 ...................... ...................... ...........2,200,539 ....... .....2,200,539                ........217,340 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VT SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........34,469 ...................... 1114.............. .....3,225,609 ...................... ...................... ...........3,506,235 ....... .....3,506,235                ........346,300 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VR SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........54,217 ...................... 1114.............. .....5,073,627 ...................... ...................... ...........5,515,029 ....... .....5,515,029                ........544,702 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832VV SPX                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .12/28/2009 .12/28/2010 ........10,729 ...................... 1128.............. ........993,398 ...................... ...................... ...........1,005,876 ....... .....1,005,876                  ..........91,571 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06




       9PG832VX SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/07/2010 .01/07/2011 ........13,051 ...................... 1142.............. ...................... .....1,131,783 ...................... ...........1,125,977 ....... .....1,125,977 ...........(5,806) ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832VZ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/14/2010 .01/14/2011 ..........7,401 ...................... 1148.............. ...................... ........597,261 ...................... ..............617,508 ....... ........617,508                 ..........20,247 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XM SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........25,885 ...................... 1116.............. ...................... .....2,124,123 ...................... ...........2,682,621 ....... .....2,682,621                     ........558,498 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XH SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........16,033 ...................... 1116.............. ...................... .....1,315,668 ...................... ...........1,661,598 ....... .....1,661,598                     ........345,930 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XF SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........18,630 ...................... 1116.............. ...................... .....1,528,778 ...................... ...........1,930,741 ....... .....1,930,741                     ........401,963 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XK SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........63,055 ...................... 1116.............. ...................... .....5,174,293 ...................... ...........6,534,775 ....... .....6,534,775                     .....1,360,482 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XB SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........11,196 ...................... 1116.............. ...................... ........918,744 ...................... ...........1,160,310 ....... .....1,160,310                    ........241,566 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XD SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........58,308 ...................... 1116.............. ...................... .....4,784,754 ...................... ...........6,042,814 ....... .....6,042,814                     .....1,258,060 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XO SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/28/2010 .01/28/2011 ..........9,774 ...................... 1085.............. ...................... ........828,835 ...................... ...........1,229,184 ....... .....1,229,184                   ........400,349 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832SF2 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/04/2010 .02/07/2011 ........12,474 ...................... 1066.............. ...................... .....1,093,346 ...................... ...........1,736,137 ....... .....1,736,137              ........642,791 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option                                                                                        JP Morgan Chase
       9PG832XS SPX                     Multiple........................................... N/A......... Equity/Index & Co            .02/12/2010 .02/14/2011 ........11,250 ...................... 1076.............. ...................... ........973,913 ...................... ...........1,499,516 ....... .....1,499,516                    ........525,603 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832YH SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........20,285 ...................... 1109.............. ...................... .....1,651,402 ...................... ...........2,252,624 ....... .....2,252,624              ........601,223 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832YD SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........43,005 ...................... 1109.............. ...................... .....3,501,037 ...................... ...........4,775,653 ....... .....4,775,653              .....1,274,616 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832YB SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........23,170 ...................... 1109.............. ...................... .....1,886,270 ...................... ...........2,573,000 ....... .....2,573,000              ........686,731 ...................... ...................... ...................... ...................... ...................... 1....................
       S&P 500 OTC Call Option
       9PG832XX SPX                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .02/19/2010 .02/18/2011 ........23,261 ...................... 1109.............. ...................... .....1,888,561 ...................... ...........2,600,407 ....... .....2,600,407                   ........711,846 ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                    SCHEDULE DB - PART A - SECTION 1
                                                                                                                                           Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                     2                             3              4                    5                    6              7               8                  9                  10                 11                  12                  13                    14              15           16                  17                  18                       19                   20                      21                    22                  23
                                                       Description of                                                                                                                                                   Strike           Prior Year        Current Year                                                                                                        Total                                     Adjustment                                                           Hedge
                                                       Items Hedged                                                                                                                                                  Price, Rate        Initial Cost        Initial Cost                                Book/                                          Unrealized             Foreign               Current              to Carrying                                   Credit             Effectiveness
                                                         or Used for                   Schedule                                                                Date of                                               of Indexed         of Premium         of Premium             Current              Adjusted                                         Valuation            Exchange               Year's                 Value of                                   Quality of           at Inception
                                                           Income                       /Exhibit       Type(s)           Exchange or              Trade       Maturity or      Number of           Notional           Received           Received            Received               Year               Carrying                        Fair             Increase             Change in           (Amortization)            Hedged                Potential            Reference               and at
                   Description                           Generation                    Identifier      of Risk           Counterparty             Date        Expiration       Contracts           Amount               (Paid)             (Paid)              (Paid)             Income                Value            Code         Value            (Decrease)            B./A.C.V.             Accretion                Items                Exposure               Entity           Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832XZ SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........35,793 ...................... 1109.............. ...................... .....2,913,908 ...................... ...........3,974,769 ....... .....3,974,769             .....1,060,861 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832XU SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........10,819 ...................... 1109.............. ...................... ........880,775 ...................... ...........1,201,437 ....... .....1,201,437            ........320,662 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YF SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 ........44,808 ...................... 1109.............. ...................... .....3,647,819 ...................... ...........4,975,874 ....... .....4,975,874             .....1,328,054 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YK SPX                     Multiple........................................... N/A......... Equity/Index & Co            .02/26/2010 .02/28/2011 ........12,132 ...................... 1104.............. ...................... ........979,538 ...................... ...........1,395,036 ....... .....1,395,036                   ........415,498 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YM SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .03/05/2010 .03/07/2011 ........12,119 ...................... 1139.............. ...................... ........957,159 ...................... ...........1,148,557 ....... .....1,148,557            ........191,399 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YO SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .03/12/2010 .03/14/2011 ..........9,391 ...................... 1150.............. ...................... ........764,615 ...................... ..............842,610 ....... ........842,610           ..........77,995 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YZ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/20/2011 ..........9,486 ...................... 1160.............. ...................... ........770,168 ...................... ..............801,086 ....... ........801,086                ..........30,918 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YS SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........11,984 ...................... 1160.............. ...................... ........972,981 ...................... ...........1,012,040 ....... .....1,012,040                   ..........39,059 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06.1




         9PG832YY SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........19,140 ...................... 1160.............. ...................... .....1,553,977 ...................... ...........1,616,359 ....... .....1,616,359                    ..........62,383 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832ZC SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........18,967 ...................... 1160.............. ...................... .....1,539,931 ...................... ...........1,601,750 ....... .....1,601,750                    ..........61,819 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YZ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........57,503 ...................... 1160.............. ...................... .....4,668,669 ...................... ...........4,856,087 ....... .....4,856,087                    ........187,419 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YV SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........46,728 ...................... 1160.............. ...................... .....3,793,846 ...................... ...........3,946,146 ....... .....3,946,146                    ........152,300 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YU SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........41,900 ...................... 1160.............. ...................... .....3,401,861 ...................... ...........3,538,425 ....... .....3,538,425                    ........136,564 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YQ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........11,122 ...................... 1160.............. ...................... ........902,995 ...................... ..............939,245 ....... ........939,245                 ..........36,250 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832ZE SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/26/2010 .03/28/2011 ........13,458 ...................... 1167.............. ...................... .....1,114,592 ...................... ...........1,100,629 ....... .....1,100,629 .........(13,963) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DK SPXA                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 ........22,441 ...................... 1114.............. .....1,144,940 ...................... ...................... ...........1,234,671 ....... .....1,234,671               ........114,273 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option                                                                                      JP Morgan Chase
         9PG837DL SPXA                    Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 ........19,973 ...................... 1116.............. ...................... ........943,325 ...................... ...........1,186,871 ....... .....1,186,871                   ........243,547 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DM SPXA                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .02/19/2010 .02/18/2011 ........27,318 ...................... 1109.............. ...................... .....1,248,433 ...................... ...........1,995,697 ....... .....1,995,697                  ........747,264 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option                                                                                      JP Morgan Chase
         9PG837DN SPXA                    Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 ........25,433 ...................... 1160.............. ...................... .....1,138,635 ...................... ...........1,205,362 ....... .....1,205,362                    ..........66,727 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PG3 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/14/2009 .04/14/2010 ........11,884 ...................... 841.5............. .....1,298,089 ...................... ...................... ...........3,893,142 ....... .....3,893,142                  ........650,835 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832QM9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .05/28/2009 .05/28/2010 ........11,138 ...................... 906.83........... .....1,050,648 ...................... ...................... ...........2,904,437 ....... .....2,904,437                     ........518,100 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832QR8 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .06/12/2009 .06/14/2010 ........11,203 ...................... 946.21........... .....1,051,514 ...................... ...................... ...........2,486,160 ....... .....2,486,160                     ........453,183 ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                                                                                                                                               SCHEDULE DB - PART A - SECTION 1
                                                                                                                                       Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                    2                            3              4                   5                   6             7               8                  9                 10                 11                 12                 13                   14             15           16                  17                  18                      19                    20                     21                    22                  23
                                                      Description of                                                                                                                                              Strike           Prior Year       Current Year                                                                                                     Total                                     Adjustment                                                          Hedge
                                                      Items Hedged                                                                                                                                             Price, Rate        Initial Cost       Initial Cost                              Book/                                        Unrealized              Foreign               Current              to Carrying                                   Credit            Effectiveness
                                                        or Used for                  Schedule                                                              Date of                                             of Indexed         of Premium        of Premium            Current             Adjusted                                       Valuation             Exchange               Year's                 Value of                                   Quality of          at Inception
                                                          Income                      /Exhibit       Type(s)          Exchange or             Trade       Maturity or     Number of           Notional          Received           Received           Received              Year              Carrying                       Fair            Increase              Change in           (Amortization)            Hedged               Potential             Reference              and at
                   Description                          Generation                   Identifier      of Risk          Counterparty            Date        Expiration      Contracts           Amount              (Paid)             (Paid)             (Paid)            Income               Value            Code        Value           (Decrease)             B./A.C.V.             Accretion                Items               Exposure                Entity          Quarter-end (a)

         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832PU2 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .04/28/2009 .04/28/2010 ........13,097 ...................... 855.16........... .....1,416,833 ...................... ...................... ...........4,108,489 ....... .....4,108,489           ........700,953 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PY4 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .05/14/2009 .05/14/2010 ........13,101 ...................... 893.07........... .....1,248,394 ...................... ...................... ...........3,603,440 ....... .....3,603,440         ........643,151 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832TQ7 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .10/14/2009 .10/14/2010 ........10,897 ...................... 1092.............. .....1,026,497 ...................... ...................... ...........1,176,541 ....... .....1,176,541          ........139,782 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RK2 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .07/14/2009 .07/14/2010 ........13,358 ...................... 905.84........... .....1,203,957 ...................... ...................... ...........3,497,838 ....... .....3,497,838           ........571,446 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832UK8 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/13/2009 .11/12/2010 ........11,889 ...................... 1093.............. .....1,154,422 ...................... ...................... ...........1,316,592 ....... .....1,316,592          ........144,694 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PW8 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .05/07/2009 .05/07/2010 ........14,327 ...................... 907.39........... .....1,504,335 ...................... ...................... ...........3,733,776 ....... .....3,733,776    ........682,991 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RG1 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .06/26/2009 .06/28/2010 ........14,147 ...................... 918.9............. .....1,279,172 ...................... ...................... ...........3,523,278 ....... .....3,523,278          ........603,057 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VA9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/30/2009 .11/26/2010 ........12,185 ...................... 1091.............. .....1,180,239 ...................... ...................... ...........1,384,509 ....... .....1,384,509          ........149,801 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
QE06.2




         9PG832SQ8 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .08/28/2009 .08/27/2010 ........13,218 ...................... 1029.............. .....1,360,000 ...................... ...................... ...........1,994,483 ....... .....1,994,483   ........310,453 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VE1 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .12/14/2009 .12/14/2010 ........12,925 ...................... 1114.............. .....1,261,222 ...................... ...................... ...........1,297,010 ....... .....1,297,010          ........119,324 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QO5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .06/05/2009 .06/07/2010 ........15,424 ...................... 940.09........... .....1,507,696 ...................... ...................... ...........3,508,947 ....... .....3,508,947    ........635,519 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832SC9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .08/14/2009 .08/13/2010 ........14,939 ...................... 1004.............. .....1,397,992 ...................... ...................... ...........2,566,429 ....... .....2,566,429          ........417,247 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SU9 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .09/14/2009 .09/14/2010 ........14,295 ...................... 1049.............. .....1,351,592 ...................... ...................... ...........1,943,977 ....... .....1,943,977        ........297,546 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TS3 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........10,634 ...................... 1081.............. ........949,085 ...................... ...................... ...........1,239,863 ....... .....1,239,863    ........162,140 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VC5 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .12/07/2009 .12/07/2010 ........13,777 ...................... 1103.............. .....1,343,671 ...................... ...................... ...........1,469,548 ....... .....1,469,548          ........145,901 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PE8 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/07/2009 .04/07/2010 ........18,883 ...................... 815.55........... .....2,083,550 ...................... ...................... ...........6,680,550 ....... .....6,680,550         .....1,060,012 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PS7 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........18,234 ...................... 850.08........... .....1,850,751 ...................... ...................... ...........5,817,090 ....... .....5,817,090         ........982,215 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RI7 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .07/07/2009 .07/07/2010 ........18,388 ...................... 881.03........... .....1,642,968 ...................... ...................... ...........5,255,008 ....... .....5,255,008    ........831,517 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832TM6 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .09/28/2009 .09/28/2010 ........15,522 ...................... 1063.............. .....1,496,476 ...................... ...................... ...........1,978,565 ....... .....1,978,565          ........272,341 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QA5 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 ........14,409 ...................... 888.33........... .....1,340,325 ...................... ...................... ...........4,014,412 ....... .....4,014,412      ........699,665 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SS4 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .09/04/2009 .09/07/2010 ........16,824 ...................... 1016.............. .....1,638,153 ...................... ...................... ...........2,733,255 ....... .....2,733,255        ........437,385 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SE5 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........12,474 ...................... 1026.............. .....1,185,279 ...................... ...................... ...........1,901,951 ....... .....1,901,951        ........310,918 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RY2 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .07/28/2009 .07/28/2010 ........17,864 ...................... 979.62........... .....1,644,917 ...................... ...................... ...........3,450,043 ....... .....3,450,043           ........582,754 ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                                                                                                                                               SCHEDULE DB - PART A - SECTION 1
                                                                                                                                       Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                    2                            3              4                   5                   6             7               8                  9                 10                 11                 12                 13                   14             15           16                  17                  18                      19                    20                     21                    22                  23
                                                      Description of                                                                                                                                              Strike           Prior Year       Current Year                                                                                                     Total                                     Adjustment                                                          Hedge
                                                      Items Hedged                                                                                                                                             Price, Rate        Initial Cost       Initial Cost                              Book/                                        Unrealized              Foreign               Current              to Carrying                                   Credit            Effectiveness
                                                        or Used for                  Schedule                                                              Date of                                             of Indexed         of Premium        of Premium            Current             Adjusted                                       Valuation             Exchange               Year's                 Value of                                   Quality of          at Inception
                                                          Income                      /Exhibit       Type(s)          Exchange or             Trade       Maturity or     Number of           Notional          Received           Received           Received              Year              Carrying                       Fair            Increase              Change in           (Amortization)            Hedged               Potential             Reference              and at
                   Description                          Generation                   Identifier      of Risk          Counterparty            Date        Expiration      Contracts           Amount              (Paid)             (Paid)             (Paid)            Income               Value            Code        Value           (Decrease)             B./A.C.V.             Accretion                Items               Exposure                Entity          Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832SW5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........13,995 ...................... 1065.............. .....1,346,319 ...................... ...................... ...........1,743,121 ....... .....1,743,121   ........238,550 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UG7 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .10/28/2009 .10/28/2010 ........17,552 ...................... 1043.............. .....1,670,073 ...................... ...................... ...........2,575,463 ....... .....2,575,463   ........345,114 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RC0 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........20,950 ...................... 921.23........... .....1,949,188 ...................... ...................... ...........5,165,356 ....... .....5,165,356      ........904,583 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QT4 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........14,546 ...................... 921.23........... .....1,353,360 ...................... ...................... ...........3,586,409 ....... .....3,586,409      ........628,070 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RM8 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........19,171 ...................... 954.58........... .....1,725,773 ...................... ...................... ...........4,134,970 ....... .....4,134,970      ........712,680 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832UI3 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/06/2009 .11/05/2010 ........19,826 ...................... 1069.............. .....1,851,748 ...................... ...................... ...........2,530,691 ....... .....2,530,691          ........310,820 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QC1 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 ........24,315 ...................... 888.33........... .....2,261,781 ...................... ...................... ...........6,774,268 ....... .....6,774,268      .....1,180,675 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PI9 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........19,410 ...................... 850.08........... .....1,970,115 ...................... ...................... ...........6,192,262 ....... .....6,192,262         .....1,045,563 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06.3




         9PG832TO2 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .10/07/2009 .10/07/2010 ........21,086 ...................... 1058.............. .....1,997,688 ...................... ...................... ...........2,798,028 ....... .....2,798,028          ........380,878 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832SA3 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .08/07/2009 .08/06/2010 ........23,157 ...................... 1010.............. .....2,152,675 ...................... ...................... ...........3,840,639 ....... .....3,840,639          ........634,249 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RU0 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........25,875 ...................... 954.58........... .....2,329,268 ...................... ...................... ...........5,580,948 ....... .....5,580,948      ........961,901 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UW2 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 ........41,782 ...................... 1091.............. .....4,021,100 ...................... ...................... ...........4,694,402 ....... .....4,694,402   ........529,468 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832US1 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 ........34,452 ...................... 1091.............. .....3,315,660 ...................... ...................... ...........3,870,842 ....... .....3,870,842   ........436,581 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UM4 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .11/20/2009 .11/19/2010 ........10,354 ...................... 1091.............. .....1,006,823 ...................... ...................... ...........1,166,880 ....... .....1,166,880     ........135,332 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UU6 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 ........48,471 ...................... 1091.............. .....4,664,849 ...................... ...................... ...........5,445,942 ....... .....5,445,942   ........614,232 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UO0 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .11/20/2009 .11/19/2010 ........16,310 ...................... 1091.............. .....1,585,984 ...................... ...................... ...........1,838,112 ....... .....1,838,112     ........213,179 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UY8 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 ........34,269 ...................... 1091.............. .....3,298,049 ...................... ...................... ...........3,850,281 ....... .....3,850,281   ........434,262 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UQ5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 ........35,002 ...................... 1091.............. .....3,368,592 ...................... ...................... ...........3,932,637 ....... .....3,932,637   ........443,551 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TG9 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........24,797 ...................... 1065.............. .....2,385,471 ...................... ...................... ...........3,088,543 ....... .....3,088,543   ........422,675 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SI6 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........24,656 ...................... 1026.............. .....2,342,813 ...................... ...................... ...........3,759,379 ....... .....3,759,379        ........614,560 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TY0 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........24,968 ...................... 1081.............. .....2,228,394 ...................... ...................... ...........2,911,126 ....... .....2,911,126     ........380,697 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TC8 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........25,924 ...................... 1065.............. .....2,493,889 ...................... ...................... ...........3,228,915 ....... .....3,228,915   ........441,885 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PO6 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........34,585 ...................... 850.08........... .....3,510,378 ...................... ...................... .........11,033,457 ....... ....11,033,457          .....1,862,999 ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the   Life Insurance Company of the Southwest
                                                                                                                                                                               SCHEDULE DB - PART A - SECTION 1
                                                                                                                                       Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                    2                            3              4                   5                   6             7               8                  9                 10                 11                 12                 13                   14             15           16                  17                  18                      19                    20                     21                    22                  23
                                                      Description of                                                                                                                                              Strike           Prior Year       Current Year                                                                                                     Total                                     Adjustment                                                          Hedge
                                                      Items Hedged                                                                                                                                             Price, Rate        Initial Cost       Initial Cost                              Book/                                        Unrealized              Foreign               Current              to Carrying                                   Credit            Effectiveness
                                                        or Used for                  Schedule                                                              Date of                                             of Indexed         of Premium        of Premium            Current             Adjusted                                       Valuation             Exchange               Year's                 Value of                                   Quality of          at Inception
                                                          Income                      /Exhibit       Type(s)          Exchange or             Trade       Maturity or     Number of           Notional          Received           Received           Received              Year              Carrying                       Fair            Increase              Change in           (Amortization)            Hedged               Potential             Reference              and at
                   Description                          Generation                   Identifier      of Risk          Counterparty            Date        Expiration      Contracts           Amount              (Paid)             (Paid)             (Paid)            Income               Value            Code        Value           (Decrease)             B./A.C.V.             Accretion                Items               Exposure                Entity          Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832TW4 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........27,927 ...................... 1081.............. .....2,492,485 ...................... ...................... ...........3,256,128 ....... .....3,256,128     ........425,813 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TE4 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........29,493 ...................... 1065.............. .....2,837,227 ...................... ...................... ...........3,673,445 ....... .....3,673,445   ........502,720 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SO3 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........32,939 ...................... 1026.............. .....3,129,864 ...................... ...................... ...........5,022,315 ....... .....5,022,315        ........821,018 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QX5 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........33,759 ...................... 921.23........... .....3,140,937 ...................... ...................... ...........8,323,497 ....... .....8,323,497      .....1,457,652 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RO4 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........32,161 ...................... 954.58........... .....2,895,133 ...................... ...................... ...........6,936,768 ....... .....6,936,768      .....1,195,582 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TK0 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........32,123 ...................... 1065.............. .....3,090,233 ...................... ...................... ...........4,001,019 ....... .....4,001,019   ........547,549 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TI5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........32,874 ...................... 1065.............. .....3,162,479 ...................... ...................... ...........4,094,559 ....... .....4,094,559   ........560,350 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RW6 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........37,399 ...................... 954.58........... .....3,366,658 ...................... ...................... ...........8,066,546 ....... .....8,066,546      .....1,390,305 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
QE06.4




         9PG832SK1 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........36,448 ...................... 1026.............. .....3,463,289 ...................... ...................... ...........5,557,344 ....... .....5,557,344        ........908,482 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RE6 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........41,466 ...................... 921.23........... .....3,857,997 ...................... ...................... .........10,223,707 ....... ....10,223,707       .....1,790,427 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UE2 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........35,417 ...................... 1081.............. .....3,160,967 ...................... ...................... ...........4,129,419 ....... .....4,129,419     ........540,016 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QI8 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 ........43,227 ...................... 888.33........... .....4,020,976 ...................... ...................... .........12,043,236 ....... ....12,043,236       .....2,098,994 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QG2 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 ........44,465 ...................... 888.33........... .....4,136,134 ...................... ...................... .........12,388,149 ....... ....12,388,149       .....2,159,109 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RS5 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........41,798 ...................... 954.58........... .....3,762,656 ...................... ...................... ...........9,015,361 ....... .....9,015,361      .....1,553,837 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TU8 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........37,082 ...................... 1081.............. .....3,309,569 ...................... ...................... ...........4,323,548 ....... .....4,323,548     ........565,402 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UA0 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........39,671 ...................... 1081.............. .....3,540,637 ...................... ...................... ...........4,625,411 ....... .....4,625,411     ........604,878 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SG0 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........41,905 ...................... 1026.............. .....3,981,813 ...................... ...................... ...........6,389,390 ....... .....6,389,390        .....1,044,499 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PM0 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........50,701 ...................... 850.08........... .....5,146,152 ...................... ...................... .........16,174,853 ....... ....16,174,853          .....2,731,123 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832QE7 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .05/21/2009 .05/21/2010 ........50,544 ...................... 888.33........... .....4,741,533 ...................... ...................... .........14,102,348 ....... ....14,102,348            .....2,467,867 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UC6 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 ........43,832 ...................... 1081.............. .....3,912,006 ...................... ...................... ...........5,110,560 ....... .....5,110,560     ........668,323 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TA2 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 ........43,582 ...................... 1065.............. .....4,192,588 ...................... ...................... ...........5,428,273 ....... .....5,428,273   ........742,873 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PQ1 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........60,112 ...................... 850.08........... .....6,101,368 ...................... ...................... .........19,177,191 ....... ....19,177,191          .....3,238,067 ...................... ...................... ...................... ...................... ...................... 1....................
             Statement as of March 31, 2010 of the                    Life Insurance Company of the Southwest
                                                                                                                                                                                                                   SCHEDULE DB - PART A - SECTION 1
                                                                                                                                                                      Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                                1                                               2                                 3                4                      5                      6                7                 8                    9                   10                    11                   12                     13                    14             15          16                 17                  18                      19                    20                     21                    22                  23
                                                                         Description of                                                                                                                                                                    Strike              Prior Year         Current Year                                                                                                        Total                                     Adjustment                                                          Hedge
                                                                         Items Hedged                                                                                                                                                                   Price, Rate           Initial Cost         Initial Cost                                   Book/                                       Unrealized             Foreign               Current              to Carrying                                   Credit            Effectiveness
                                                                           or Used for                       Schedule                                                                       Date of                                                     of Indexed            of Premium          of Premium                Current              Adjusted                                      Valuation            Exchange               Year's                 Value of                                   Quality of          at Inception
                                                                             Income                           /Exhibit         Type(s)             Exchange or                Trade        Maturity or        Number of             Notional             Received              Received             Received                  Year               Carrying                      Fair            Increase             Change in           (Amortization)            Hedged               Potential             Reference              and at
                         Description                                       Generation                        Identifier        of Risk             Counterparty               Date         Expiration         Contracts             Amount                 (Paid)                (Paid)               (Paid)                Income                Value           Code        Value           (Decrease)            B./A.C.V.             Accretion                Items               Exposure                Entity          Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832RQ9 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........56,884 ...................... 954.58........... .....5,120,698 ...................... ...................... .........12,269,243 ....... ....12,269,243                                       .....2,114,658 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RA4 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........59,486 ...................... 921.23........... .....5,534,577 ...................... ...................... .........14,666,653 ....... ....14,666,653                                       .....2,568,497 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QV9 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 ........59,920 ...................... 921.23........... .....5,574,957 ...................... ...................... .........14,773,659 ....... ....14,773,659                                       .....2,587,237 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                                         JP Morgan Chase
         9PG832QK3 SPX                                     Multiple........................................... N/A......... Equity/Index & Co            .05/21/2009 .05/21/2010 ........62,252 ...................... 888.33........... .....5,839,860 ...................... ...................... .........17,369,012 ....... ....17,369,012                                            .....3,039,523 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SM7 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 ........58,862 ...................... 1026.............. .....5,593,067 ...................... ...................... ...........8,974,878 ....... .....8,974,878                                        .....1,467,159 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PK4 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........94,462 ...................... 850.08........... .....9,587,893 ...................... ...................... .........30,135,677 ....... ....30,135,677                                          .....5,088,407 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DD2 SPXA                                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 ........21,726 ...................... 888.33........... .....1,210,138 ...................... ...................... ...........3,880,576 ....... .....3,880,576                                      ........243,581 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DC4 SPXA                                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 ........23,880 ...................... 850.08........... .....1,455,486 ...................... ...................... ...........4,599,011 ....... .....4,599,011                                         ........146,005 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
QE06.5




         9PG837DF7 SPXA                                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 ........23,571 ...................... 954.58........... .....1,194,814 ...................... ...................... ...........3,592,064 ....... .....3,592,064                                      ........453,929 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DE0 SPXA                                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .06/19/2009 .06/21/2010 ........24,424 ...................... 921.23........... .....1,311,813 ...................... ...................... ...........4,025,388 ....... .....4,025,388                                         ........389,568 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DG5 SPXA                                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .08/21/2009 .08/20/2010 ........24,363 ...................... 1026.............. .....1,312,435 ...................... ...................... ...........2,350,695 ....... .....2,350,695                                     ........418,032 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DH3 SPXA                                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .09/21/2009 .09/21/2010 ........25,548 ...................... 1065.............. .....1,376,271 ...................... ...................... ...........1,790,445 ....... .....1,790,445                                     ........311,272 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DJ9 SPXA                                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .11/20/2009 .11/19/2010 ........25,656 ...................... 1091.............. .....1,394,404 ...................... ...................... ...........1,679,640 ....... .....1,679,640                                     ........232,265 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P Asian OTC Call Option
         9PG837DI1 SPXA                                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .10/21/2009 .10/21/2010 ........29,776 ...................... 1081.............. .....1,462,002 ...................... ...................... ...........1,894,149 ....... .....1,894,149                                        ........276,145 ...................... ...................... ...................... ...................... ...................... 1....................
         0019999. Total-Purchased Options-Hedging Effective-Call Options and Warrants.......................................................... ............................................................................................................. ..242,343,207 ....61,591,995 ...................0                              .......565,566,676 XXX ..565,566,676 ....90,321,737 ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
         0079999. Total-Purchased Options-Hedging Effective.................................................................................................... ............................................................................................................. ..242,343,207 ....61,591,995 ...................0              .......565,566,676 XXX ..565,566,676 ....90,321,737 ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
         0369999. Total-Purchased Options-Call Options and Warrants....................................................................................... ............................................................................................................. ..242,343,207 ....61,591,995 ...................0                   .......565,566,676 XXX ..565,566,676 ....90,321,737 ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
         0429999. Total-Purchased Options................................................................................................................................. ............................................................................................................. ..242,343,207 ....61,591,995 ...................0   .......565,566,676 XXX ..565,566,676 ....90,321,737 ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......


         Written Options - Hedging Effective - Call Options and Warrants
         S&P 500 OTC Call Option
         9PG832VT SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(34,469) ...................... 1186.............. ....(2,058,144) ...................... ...................... ..........(2,057,826) ....... ....(2,057,826) .........(66,262) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VR SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(54,217) ...................... 1192.............. ....(3,116,393) ...................... ...................... ..........(3,086,793) ....... ....(3,086,793) .........(75,359) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VP SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(21,633) ...................... 1203.............. ....(1,151,957) ...................... ...................... ..........(1,116,613) ....... ....(1,116,613) ...........(8,166) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VN SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(22,261) ...................... 1214.............. ....(1,093,683) ...................... ...................... ..........(1,037,154) ....... ....(1,037,154) ..........12,470 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VL SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(60,590) ...................... 1225.............. ....(2,740,486) ...................... ...................... ..........(2,536,174) ....... ....(2,536,174) ..........85,955 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VJ SPX                                      Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .......(17,324) ...................... 1239.............. .......(704,394) ...................... ...................... .............(630,107) ....... .......(630,107) ..........41,085 ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                        SCHEDULE DB - PART A - SECTION 1
                                                                                                                                             Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                     2                              3               4                     5                    6              7                8                   9                  10                  11                  12                   13                    14               15            16                  17                18                    19                  20                   21                  22                 23
                                                       Description of                                                                                                                                                        Strike            Prior Year        Current Year                                                                                                         Total                                 Adjustment                                                     Hedge
                                                       Items Hedged                                                                                                                                                       Price, Rate         Initial Cost        Initial Cost                                  Book/                                           Unrealized           Foreign             Current            to Carrying                               Credit           Effectiveness
                                                         or Used for                    Schedule                                                                  Date of                                                 of Indexed          of Premium         of Premium              Current               Adjusted                                          Valuation          Exchange             Year's               Value of                               Quality of         at Inception
                                                           Income                        /Exhibit        Type(s)           Exchange or               Trade       Maturity or       Number of           Notional            Received            Received            Received                Year                Carrying                         Fair             Increase           Change in         (Amortization)          Hedged              Potential          Reference             and at
                   Description                           Generation                     Identifier       of Risk           Counterparty              Date        Expiration        Contracts           Amount                (Paid)              (Paid)              (Paid)              Income                 Value            Code          Value            (Decrease)          B./A.C.V.           Accretion              Items              Exposure             Entity         Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832VH SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .12/21/2009 .12/21/2010 .........(8,527) ...................... 1278.............. .......(251,719) ...................... ...................... .............(200,417) ....... .......(200,417) ..........36,622 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832VV SPX                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .12/28/2009 .12/28/2010 .......(10,729) ...................... 1212.............. .......(567,457) ...................... ...................... .............(519,327) ....... .......(519,327) ...............743 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VX SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/07/2010 .01/07/2011 .......(13,051) ...................... 1230.............. ...................... .......(611,831) ...................... .............(552,817) ....... .......(552,817) ..........59,014 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VZ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/14/2010 .01/14/2011 .........(7,401) ...................... 1229.............. ...................... .......(327,790) ...................... .............(325,293) ....... .......(325,293) ............2,498 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XM SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(25,885) ...................... 1189.............. ...................... ....(1,262,929) ...................... ..........(1,619,111) ....... ....(1,619,111) .......(356,182) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XK SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(63,055) ...................... 1195.............. ...................... ....(2,942,777) ...................... ..........(3,773,366) ....... ....(3,773,366) .......(830,590) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XH SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(16,033) ...................... 1211.............. ...................... .......(649,817) ...................... .............(835,780) ....... .......(835,780) .......(185,963) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XF SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(18,630) ...................... 1220.............. ...................... .......(703,096) ...................... .............(903,732) ....... .......(903,732) .......(200,636) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06.6




         9PG832XD SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(58,308) ...................... 1228.............. ...................... ....(2,057,106) ...................... ..........(2,626,435) ....... ....(2,626,435) .......(569,329) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XB SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/21/2010 .01/21/2011 .......(11,196) ...................... 1267.............. ...................... .......(272,511) ...................... .............(346,776) ....... .......(346,776) .........(74,265) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XO SPX                     Multiple........................................... N/A......... Equity/Index & Co            .01/28/2010 .01/28/2011 .........(9,774) ...................... 1169.............. ...................... .......(455,664) ...................... .............(724,492) ....... .......(724,492) .......(268,828) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SF2 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/04/2010 .02/07/2011 .......(12,474) ...................... 1143.............. ...................... .......(643,783) ...................... ..........(1,111,176) ....... ....(1,111,176) .......(467,393) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832XS SPX                     Multiple........................................... N/A......... Equity/Index & Co            .02/12/2010 .02/14/2011 .......(11,250) ...................... 1156.............. ...................... .......(556,425) ...................... .............(929,357) ....... .......(929,357) .......(372,932) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YH SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(20,285) ...................... 1181.............. ...................... .......(985,445) ...................... ..........(1,415,490) ....... ....(1,415,490) .......(430,045) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YF SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(44,808) ...................... 1187.............. ...................... ....(2,062,512) ...................... ..........(3,003,222) ....... ....(3,003,222) .......(940,710) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YD SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(43,005) ...................... 1195.............. ...................... ....(1,850,505) ...................... ..........(2,709,459) ....... ....(2,709,459) .......(858,954) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YB SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(23,170) ...................... 1212.............. ...................... .......(858,217) ...................... ..........(1,283,442) ....... ....(1,283,442) .......(425,225) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832XZ SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(35,793) ...................... 1220.............. ...................... ....(1,246,312) ...................... ..........(1,854,249) ....... ....(1,854,249) .......(607,937) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832XX SPX                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .02/19/2010 .02/18/2011 .......(23,261) ...................... 1228.............. ...................... .......(737,839) ...................... ..........(1,123,690) ....... ....(1,123,690) .......(385,851) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832XU SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .02/19/2010 .02/18/2011 .......(10,819) ...................... 1264.............. ...................... .......(244,724) ...................... .............(380,249) ....... .......(380,249) .......(135,525) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YK SPX                     Multiple........................................... N/A......... Equity/Index & Co            .02/26/2010 .02/28/2011 .......(12,132) ...................... 1190.............. ...................... .......(510,515) ...................... .............(804,093) ....... .......(804,093) .......(293,579) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832YM SPX                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .03/05/2010 .03/07/2011 .......(12,119) ...................... 1218.............. ...................... .......(515,542) ...................... .............(658,877) ....... .......(658,877) .......(143,334) ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                        SCHEDULE DB - PART A - SECTION 1
                                                                                                                                             Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                     2                              3               4                     5                    6              7                8                   9                  10                  11                  12                   13                    14               15            16                  17                18                    19                  20                   21                  22                 23
                                                       Description of                                                                                                                                                        Strike            Prior Year        Current Year                                                                                                         Total                                 Adjustment                                                     Hedge
                                                       Items Hedged                                                                                                                                                       Price, Rate         Initial Cost        Initial Cost                                  Book/                                           Unrealized           Foreign             Current            to Carrying                               Credit           Effectiveness
                                                         or Used for                    Schedule                                                                  Date of                                                 of Indexed          of Premium         of Premium              Current               Adjusted                                          Valuation          Exchange             Year's               Value of                               Quality of         at Inception
                                                           Income                        /Exhibit        Type(s)           Exchange or               Trade       Maturity or       Number of           Notional            Received            Received            Received                Year                Carrying                         Fair             Increase           Change in         (Amortization)          Hedged              Potential          Reference             and at
                   Description                           Generation                     Identifier       of Risk           Counterparty              Date        Expiration        Contracts           Amount                (Paid)              (Paid)              (Paid)              Income                 Value            Code          Value            (Decrease)          B./A.C.V.           Accretion              Items              Exposure             Entity         Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832YO SPX                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .03/12/2010 .03/14/2011 .........(9,391) ...................... 1242.............. ...................... .......(381,275) ...................... .............(427,630) ....... .......(427,630) .........(46,355) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832ZC SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(18,967) ...................... 1224.............. ...................... .......(965,800) ...................... ..........(1,017,038) ....... ....(1,017,038) .........(51,238) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832ZA SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(66,989) ...................... 1241.............. ...................... ....(2,983,690) ...................... ..........(3,122,958) ....... ....(3,122,958) .......(139,268) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YY SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(19,140) ...................... 1256.............. ...................... .......(752,585) ...................... .............(789,524) ....... .......(789,524) .........(36,939) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YV SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(46,728) ...................... 1267.............. ...................... ....(1,663,984) ...................... ..........(1,740,985) ....... ....(1,740,985) .........(77,001) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YU SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(41,900) ...................... 1279.............. ...................... ....(1,346,247) ...................... ..........(1,404,986) ....... ....(1,404,986) .........(58,739) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YS SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(11,984) ...................... 1287.............. ...................... .......(353,049) ...................... .............(370,419) ....... .......(370,419) .........(17,371) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832YQ SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/19/2010 .03/21/2011 .......(11,122) ...................... 1322.............. ...................... .......(229,558) ...................... .............(242,917) ....... .......(242,917) .........(13,359) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06.7




         9PG832ZE SPX                     Multiple........................................... N/A......... Equity/Index & Co            .03/26/2010 .03/28/2011 .......(13,458) ...................... 1251.............. ...................... .......(599,685) ...................... .............(588,239) ....... .......(588,239) ..........11,446 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832QN7 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .05/28/2009 .05/28/2010 .......(11,138) ...................... 981.64........... .......(664,827) ...................... ...................... ..........(2,089,116) ....... ....(2,089,116) .......(412,737) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832QS6 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .06/12/2009 .06/14/2010 .......(11,203) ...................... 1024.............. .......(640,251) ...................... ...................... ..........(1,653,568) ....... ....(1,653,568) .......(313,340) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832PV0 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .04/28/2009 .04/28/2010 .......(13,097) ...................... 923.57........... ....(1,003,492) ...................... ...................... ..........(3,216,228) ....... ....(3,216,228) .......(635,672) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PZ1 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .05/14/2009 .05/14/2010 .......(13,101) ...................... 966.75........... .......(812,000) ...................... ...................... ..........(2,647,758) ....... ....(2,647,758) .......(536,444) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832TR5 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .10/14/2009 .10/14/2010 .......(10,897) ...................... 1171.............. .......(625,488) ...................... ...................... .............(629,118) ....... .......(629,118) .........(23,327) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RL0 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .07/14/2009 .07/14/2010 .......(13,358) ...................... 980.57........... .......(742,972) ...................... ...................... ..........(2,549,069) ....... ....(2,549,069) .......(445,059) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832UL6 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/13/2009 .11/12/2010 .......(11,889) ...................... 1178.............. .......(690,275) ...................... ...................... .............(696,973) ....... .......(696,973) .........(19,434) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PX6 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .05/07/2009 .05/07/2010 .......(14,327) ...................... 982.25........... ....(1,011,629) ...................... ...................... ..........(2,673,418) ....... ....(2,673,418) .......(558,134) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RH9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .06/26/2009 .06/28/2010 .......(14,147) ...................... 994.71........... .......(779,924) ...................... ...................... ..........(2,498,779) ....... ....(2,498,779) .......(456,605) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VB7 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/30/2009 .11/26/2010 .......(12,185) ...................... 1182.............. .......(674,074) ...................... ...................... .............(715,644) ....... .......(715,644) .........(17,179) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SR6 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .08/28/2009 .08/27/2010 .......(13,218) ...................... 1106.............. .......(881,244) ...................... ...................... ..........(1,188,962) ....... ....(1,188,962) .......(144,146) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VF8 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .12/14/2009 .12/14/2010 .......(12,925) ...................... 1198.............. .......(761,541) ...................... ...................... .............(686,828) ....... .......(686,828) ..............(693) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QP2 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .06/05/2009 .06/07/2010 .......(15,424) ...................... 1018.............. .......(950,890) ...................... ...................... ..........(2,359,073) ....... ....(2,359,073) .......(451,971) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832SD7 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .08/14/2009 .08/13/2010 .......(14,939) ...................... 1079.............. .......(876,023) ...................... ...................... ..........(1,621,325) ....... ....(1,621,325) .......(229,357) ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                        SCHEDULE DB - PART A - SECTION 1
                                                                                                                                             Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                     2                              3               4                     5                    6              7                8                   9                  10                  11                  12                   13                    14               15            16                  17                18                    19                  20                   21                  22                 23
                                                       Description of                                                                                                                                                        Strike            Prior Year        Current Year                                                                                                         Total                                 Adjustment                                                     Hedge
                                                       Items Hedged                                                                                                                                                       Price, Rate         Initial Cost        Initial Cost                                  Book/                                           Unrealized           Foreign             Current            to Carrying                               Credit           Effectiveness
                                                         or Used for                    Schedule                                                                  Date of                                                 of Indexed          of Premium         of Premium              Current               Adjusted                                          Valuation          Exchange             Year's               Value of                               Quality of         at Inception
                                                           Income                        /Exhibit        Type(s)           Exchange or               Trade       Maturity or       Number of           Notional            Received            Received            Received                Year                Carrying                         Fair             Increase           Change in         (Amortization)          Hedged              Potential          Reference             and at
                   Description                           Generation                     Identifier       of Risk           Counterparty              Date        Expiration        Contracts           Amount                (Paid)              (Paid)              (Paid)              Income                 Value            Code          Value            (Decrease)          B./A.C.V.           Accretion              Items              Exposure             Entity         Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832SV7 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .09/14/2009 .09/14/2010 .......(14,295) ...................... 1131.............. .......(820,533) ...................... ...................... ..........(1,090,582) ....... ....(1,090,582) .......(114,478) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TV6 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(37,082) ...................... 1195.............. ....(1,517,025) ...................... ...................... ..........(1,725,349) ....... ....(1,725,349) .........(21,568) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TT1 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(10,634) ...................... 1236.............. .......(308,599) ...................... ...................... .............(312,698) ....... .......(312,698) ..........29,473 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832VD3 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .12/07/2009 .12/07/2010 .......(13,777) ...................... 1180.............. .......(846,597) ...................... ...................... .............(834,980) ....... .......(834,980) .........(21,363) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PF5 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/07/2009 .04/07/2010 .......(18,883) ...................... 880.79........... ....(1,524,613) ...................... ...................... ..........(5,448,640) ....... ....(5,448,640) ....(1,010,616) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PH1 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/14/2009 .04/14/2010 .......(11,884) ...................... 906.72........... .......(949,056) ...................... ...................... ..........(3,118,320) ....... ....(3,118,320) .......(607,640) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PT5 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(18,234) ...................... 905.34........... ....(1,381,043) ...................... ...................... ..........(4,810,657) ....... ....(4,810,657) .......(920,375) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RJ5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .07/07/2009 .07/07/2010 .......(18,388) ...................... 951.51........... ....(1,040,393) ...................... ...................... ..........(4,005,793) ....... ....(4,005,793) .......(691,843) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
QE06.8




         9PG832TN4 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .09/28/2009 .09/28/2010 .......(15,522) ...................... 1143.............. .......(923,869) ...................... ...................... ..........(1,107,608) ....... ....(1,107,608) .........(86,811) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QB3 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 .......(14,409) ...................... 1006.............. .......(632,555) ...................... ...................... ..........(2,350,407) ....... ....(2,350,407) .......(478,563) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832ST2 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .09/04/2009 .09/07/2010 .......(16,824) ...................... 1093.............. ....(1,036,190) ...................... ...................... ..........(1,708,874) ....... ....(1,708,874) .......(233,830) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SF2 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(12,474) ...................... 1162.............. .......(481,247) ...................... ...................... .............(656,566) ....... .......(656,566) .........(34,340) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832RZ9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .07/28/2009 .07/28/2010 .......(17,864) ...................... 1056.............. ....(1,018,427) ...................... ...................... ..........(2,249,089) ....... ....(2,249,089) .......(358,490) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SY1 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(13,995) ...................... 1208.............. .......(523,833) ...................... ...................... .............(492,611) ....... .......(492,611) ..........26,351 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UH5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .10/28/2009 .10/28/2010 .......(17,552) ...................... 1118.............. ....(1,055,226) ...................... ...................... ..........(1,607,781) ....... ....(1,607,781) .......(161,909) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RD8 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(20,950) ...................... 990.32........... ....(1,266,009) ...................... ...................... ..........(3,779,632) ....... ....(3,779,632) .......(708,565) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QU1 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(14,546) ...................... 1046.............. .......(588,240) ...................... ...................... ..........(1,885,513) ....... ....(1,885,513) .......(347,921) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RN6 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(19,171) ...................... 1081.............. .......(730,223) ...................... ...................... ..........(1,988,907) ....... ....(1,988,907) .......(310,938) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832UJ1 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .11/06/2009 .11/05/2010 .......(19,826) ...................... 1155.............. ....(1,075,759) ...................... ...................... ..........(1,399,537) ....... ....(1,399,537) .........(83,973) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QD9 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 .......(24,315) ...................... 981.6............. ....(1,263,894) ...................... ...................... ..........(4,541,779) ....... ....(4,541,779) .......(908,807) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PJ7 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(19,410) ...................... 960.59........... ....(1,064,250) ...................... ...................... ..........(4,051,054) ....... ....(4,051,054) .......(872,243) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832TP9 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .10/07/2009 .10/07/2010 .......(21,086) ...................... 1134.............. ....(1,250,611) ...................... ...................... ..........(1,647,433) ....... ....(1,647,433) .......(142,688) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option                                                                                        JP Morgan Chase
         9PG832SB1 SPX                    Multiple........................................... N/A......... Equity/Index & Co            .08/07/2009 .08/06/2010 .......(23,157) ...................... 1086.............. ....(1,333,612) ...................... ...................... ..........(2,370,630) ....... ....(2,370,630) .......(332,002) ...................... ...................... ...................... ...................... ...................... 1....................
           Statement as of March 31, 2010 of the    Life Insurance Company of the Southwest
                                                                                                                                                                                       SCHEDULE DB - PART A - SECTION 1
                                                                                                                                             Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                        1                                     2                              3               4                    5                    6               7                8                  9                  10                  11                  12                   13                    14               15           16                   17                18                    19                  20                  21                  22                 23
                                                       Description of                                                                                                                                                       Strike            Prior Year        Current Year                                                                                                         Total                                 Adjustment                                                    Hedge
                                                       Items Hedged                                                                                                                                                      Price, Rate         Initial Cost        Initial Cost                                 Book/                                           Unrealized            Foreign             Current            to Carrying                              Credit           Effectiveness
                                                         or Used for                    Schedule                                                                  Date of                                                of Indexed          of Premium         of Premium              Current              Adjusted                                          Valuation           Exchange             Year's               Value of                              Quality of         at Inception
                                                           Income                        /Exhibit        Type(s)           Exchange or              Trade        Maturity or      Number of            Notional           Received            Received            Received                Year               Carrying                         Fair             Increase            Change in         (Amortization)          Hedged             Potential          Reference             and at
                   Description                           Generation                     Identifier       of Risk           Counterparty             Date         Expiration       Contracts            Amount               (Paid)              (Paid)              (Paid)              Income                Value             Code         Value            (Decrease)           B./A.C.V.           Accretion              Items             Exposure             Entity         Quarter-end (a)

         S&P 500 OTC Call Option
         9PG832RV8 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(25,875) ...................... 1026.............. ....(1,477,204) ...................... ...................... ..........(3,888,069) ....... ....(3,888,069) .......(679,512) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UZ5 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 .......(34,269) ...................... 1162.............. ....(2,153,464) ...................... ...................... ..........(2,319,296) ....... ....(2,319,296) .......(139,452) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UX0 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 .......(41,782) ...................... 1168.............. ....(2,534,496) ...................... ...................... ..........(2,703,173) ....... ....(2,703,173) .......(145,730) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UV4 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 .......(48,471) ...................... 1179.............. ....(2,733,764) ...................... ...................... ..........(2,857,488) ....... ....(2,857,488) .......(114,989) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UT9 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 .......(34,452) ...................... 1192.............. ....(1,770,144) ...................... ...................... ..........(1,797,780) ....... ....(1,797,780) .........(36,963) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UR3 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .11/20/2009 .11/19/2010 .......(35,002) ...................... 1201.............. ....(1,699,347) ...................... ...................... ..........(1,692,058) ....... ....(1,692,058) .........(12,176) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UP7 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .11/20/2009 .11/19/2010 .......(16,310) ...................... 1214.............. .......(728,078) ...................... ...................... .............(684,103) ....... .......(684,103) ..........16,354 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832UN2 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .11/20/2009 .11/19/2010 .......(10,354) ...................... 1247.............. .......(360,423) ...................... ...................... .............(302,653) ....... .......(302,653) ..........33,704 ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
QE06.9




         9PG832TH7 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(24,797) ...................... 1147.............. ....(1,442,937) ...................... ...................... ..........(1,657,904) ....... ....(1,657,904) .......(121,008) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SJ4 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(24,656) ...................... 1118.............. ....(1,313,179) ...................... ...................... ..........(1,980,545) ....... ....(1,980,545) .......(235,203) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TZ7 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(24,968) ...................... 1179.............. ....(1,159,264) ...................... ...................... ..........(1,364,665) ....... ....(1,364,665) .........(57,353) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TD6 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(25,924) ...................... 1160.............. ....(1,378,898) ...................... ...................... ..........(1,530,990) ....... ....(1,530,990) .........(82,163) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832PP3 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(34,585) ...................... 918.09........... ....(2,437,205) ...................... ...................... ..........(8,684,367) ....... ....(8,684,367) ....(1,709,454) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TX2 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(27,927) ...................... 1184.............. ....(1,242,193) ...................... ...................... ..........(1,448,625) ....... ....(1,448,625) .........(47,614) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TF1 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(29,493) ...................... 1152.............. ....(1,656,622) ...................... ...................... ..........(1,878,208) ....... ....(1,878,208) .......(123,381) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SP0 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(32,939) ...................... 1090.............. ....(2,122,589) ...................... ...................... ..........(3,317,840) ....... ....(3,317,840) .......(469,638) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832QY3 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(33,759) ...................... 1006.............. ....(1,825,349) ...................... ...................... ..........(5,581,690) ....... ....(5,581,690) ....(1,051,793) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RP1 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(32,161) ...................... 1050.............. ....(1,550,482) ...................... ...................... ..........(4,165,379) ....... ....(4,165,379) .......(708,422) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TL8 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(32,123) ...................... 1134.............. ....(2,040,132) ...................... ...................... ..........(2,413,301) ....... ....(2,413,301) .......(214,884) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832TJ3 SPX                    Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(32,874) ...................... 1139.............. ....(2,014,519) ...................... ...................... ..........(2,359,098) ....... ....(2,359,098) .......(195,732) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RX4 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(37,399) ...................... 1021.............. ....(2,206,541) ...................... ...................... ..........(5,777,685) ....... ....(5,777,685) ....(1,012,596) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832SL9 SPX                    Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(36,448) ...................... 1113.............. ....(2,012,294) ...................... ...................... ..........(3,058,128) ....... ....(3,058,128) .......(378,551) ...................... ...................... ...................... ...................... ...................... 1....................
         S&P 500 OTC Call Option
         9PG832RF3 SPX                    Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(41,466) ...................... 985.72........... ....(2,582,088) ...................... ...................... ..........(7,660,608) ....... ....(7,660,608) ....(1,432,564) ...................... ...................... ...................... ...................... ...................... 1....................
              Statement as of March 31, 2010 of the                    Life Insurance Company of the Southwest
                                                                                                                                                                                                                      SCHEDULE DB - PART A - SECTION 1
                                                                                                                                                                        Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                                 1                                                2                                 3                4                       5                      6               7                  8                    9                   10                    11                    12                     13                    14             15           16                17               18                    19                   20                   21                   22                  23
                                                                           Description of                                                                                                                                                                     Strike              Prior Year          Current Year                                                                                                     Total                                  Adjustment                                                       Hedge
                                                                           Items Hedged                                                                                                                                                                    Price, Rate           Initial Cost          Initial Cost                                   Book/                                       Unrealized          Foreign             Current             to Carrying                                Credit            Effectiveness
                                                                             or Used for                       Schedule                                                                        Date of                                                     of Indexed            of Premium           of Premium                Current              Adjusted                                      Valuation         Exchange             Year's                Value of                                Quality of          at Inception
                                                                               Income                           /Exhibit         Type(s)             Exchange or                Trade         Maturity or        Number of             Notional             Received              Received              Received                  Year               Carrying                       Fair           Increase          Change in         (Amortization)           Hedged              Potential           Reference              and at
                          Description                                        Generation                        Identifier        of Risk             Counterparty               Date          Expiration         Contracts             Amount                 (Paid)                (Paid)                (Paid)                Income                Value           Code         Value          (Decrease)         B./A.C.V.           Accretion               Items              Exposure              Entity          Quarter-end (a)

          S&P 500 OTC Call Option
          9PG832UF9 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(35,417) ...................... 1152.............. ....(2,004,248) ...................... ...................... ..........(2,469,592) ....... ....(2,469,592) .......(195,987) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832QJ6 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 .......(43,227) ...................... 959.4............. ....(2,603,994) ...................... ...................... ..........(9,011,916) ....... ....(9,011,916) ....(1,758,023) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832QH0 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .05/21/2009 .05/21/2010 .......(44,465) ...................... 968.28........... ....(2,528,280) ...................... ...................... ..........(8,883,477) ....... ....(8,883,477) ....(1,752,176) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832RT3 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(41,798) ...................... 1033.............. ....(2,270,467) ...................... ...................... ..........(6,017,620) ....... ....(6,017,620) ....(1,045,714) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832UB8 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(39,671) ...................... 1168.............. ....(1,996,245) ...................... ...................... ..........(2,398,747) ....... ....(2,398,747) .......(140,479) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832SH8 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(41,905) ...................... 1129.............. ....(2,076,812) ...................... ...................... ..........(3,074,273) ....... ....(3,074,273) .......(329,672) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832PN8 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(50,701) ...................... 926.59........... ....(3,400,516) ...................... ...................... ........(12,301,060) ....... ..(12,301,060) ....(2,467,084) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option                                                                                                         JP Morgan Chase
          9PG832QF4 SPX                                     Multiple........................................... N/A......... Equity/Index & Co            .05/21/2009 .05/21/2010 .......(50,544) ...................... 977.16........... ....(2,752,626) ...................... ...................... ..........(9,682,729) ....... ....(9,682,729) ....(1,946,091) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
QE06.10




          9PG832UD4 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .10/21/2009 .10/21/2010 .......(43,832) ...................... 1157.............. ....(2,390,597) ...................... ...................... ..........(2,917,784) ....... ....(2,917,784) .......(212,745) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832TB0 SPX                                     Multiple........................................... N/A......... Equity/Index Merrill Lynch Intl.... .09/21/2009 .09/21/2010 .......(43,582) ...................... 1171.............. ....(2,155,566) ...................... ...................... ..........(2,317,115) ....... ....(2,317,115) .........(82,117) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832PR9 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(60,112) ...................... 909.59........... ....(4,445,884) ...................... ...................... ........(15,604,250) ....... ..(15,604,250) ....(3,013,990) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832RR7 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .07/21/2009 .07/21/2010 .......(56,884) ...................... 1040.............. ....(2,938,059) ...................... ...................... ..........(7,834,845) ....... ....(7,834,845) ....(1,351,076) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832RB2 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(59,486) ...................... 997.23........... ....(3,429,963) ...................... ...................... ........(10,346,353) ....... ..(10,346,353) ....(1,945,312) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832QW7 SPX                                     Multiple........................................... N/A......... Equity/Index Credit Suisse FB Int .06/19/2009 .06/21/2010 .......(59,920) ...................... 1013.............. ....(3,085,281) ...................... ...................... ..........(9,523,455) ....... ....(9,523,455) ....(1,794,955) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option                                                                                                         JP Morgan Chase
          9PG832QL1 SPX                                     Multiple........................................... N/A......... Equity/Index & Co            .05/21/2009 .05/21/2010 .......(62,252) ...................... 950.51........... ....(4,031,440) ...................... ...................... ........(13,549,526) ....... ..(13,549,526) ....(2,632,299) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832SN5 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .08/21/2009 .08/20/2010 .......(58,862) ...................... 1103.............. ....(3,485,219) ...................... ...................... ..........(5,370,438) ....... ....(5,370,438) .......(711,958) ...................... ...................... ...................... ...................... ...................... 1....................
          S&P 500 OTC Call Option
          9PG832PL2 SPX                                     Multiple........................................... N/A......... Equity/Index Barclays Bank PLC .04/21/2009 .04/21/2010 .......(94,462) ...................... 935.09........... ....(6,055,014) ...................... ...................... ........(22,117,246) ....... ..(22,117,246) ....(4,518,220) ...................... ...................... ...................... ...................... ...................... 1....................
          0439999. Total-Written Options-Hedging Effective-Call Options and Warrants................................................................ ............................................................................................................. (137,522,090) ..(28,771,213) ...................0                             ......(338,824,591) XXX (338,824,591) ..(55,341,757) ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
          0499999. Total-Written Options-Hedging Effective.......................................................................................................... ............................................................................................................. (137,522,090) ..(28,771,213) ...................0             ......(338,824,591) XXX (338,824,591) ..(55,341,757) ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
          0789999. Total-Written Options-Call Options and Warrants............................................................................................ ............................................................................................................. (137,522,090) ..(28,771,213) ...................0                   ......(338,824,591) XXX (338,824,591) ..(55,341,757) ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
          0849999. Total-Written Options...................................................................................................................................... ............................................................................................................. (137,522,090) ..(28,771,213) ...................0   ......(338,824,591) XXX (338,824,591) ..(55,341,757) ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......


          Swaps - Hedging Other - Credit Default
          Barclays US Funding LLC Fixed                     TOLL BROS FINANCE CORP
          Rate Credit Default Swap                          88947EAG5                                          N/A......... Credit......... Barclays Bank PLC .11/20/2008 .12/20/2013 .................... ..(10,000,000) -3.75.............. ...................... ...................... .........(94,792) .............(930,734) ....... .......(930,734) ..........29,442 ...................... ...................... ...................... ...................... 2.................... 2....................
          Barclays US Funding LLC Variable TOLL BROS FINANCE CORP
          Rate Credit Default Swap         88947EAG5                                                           N/A......... Credit......... Barclays Bank PLC .11/20/2008 .12/20/2013 .................... ....10,000,000 100................ ...................... ...................... ...................... ............................ ....... ...................... ...................... ...................... ...................... ...................... ...................... 2.................... 2....................
              Statement as of March 31, 2010 of the                       Life Insurance Company of the Southwest
                                                                                                                                                                                                                                SCHEDULE DB - PART A - SECTION 1
                                                                                                                                                                                Showing all Options, Caps, Floors, Collars, Swaps and Forwards Open as of Current Statement Date
                                  1                                                  2                                   3                 4                        5                      6                 7                   8                     9                   10                     11                     12                    13                   14             15          16                 17               18                  19                 20                21                 22                23
                                                                              Description of                                                                                                                                                                             Strike               Prior Year           Current Year                                                                                                   Total                              Adjustment                                                Hedge
                                                                              Items Hedged                                                                                                                                                                            Price, Rate            Initial Cost           Initial Cost                                 Book/                                       Unrealized          Foreign           Current           to Carrying                           Credit          Effectiveness
                                                                                or Used for                        Schedule                                                                            Date of                                                        of Indexed             of Premium            of Premium               Current             Adjusted                                      Valuation         Exchange           Year's              Value of                           Quality of        at Inception
                                                                                  Income                            /Exhibit          Type(s)              Exchange or                  Trade         Maturity or         Number of               Notional             Received               Received               Received                 Year              Carrying                       Fair           Increase          Change in       (Amortization)         Hedged           Potential         Reference            and at
                           Description                                          Generation                         Identifier         of Risk              Counterparty                 Date          Expiration          Contracts               Amount                 (Paid)                 (Paid)                 (Paid)               Income               Value           Code         Value          (Decrease)         B./A.C.V.         Accretion             Items           Exposure            Entity        Quarter-end (a)

          CDX IG 12 Fixed Rate Credit                                                                                                          JP Morgan Chase
          Default Swap                                        Multiple........................................... N/A......... Credit......... & Co            .05/04/2009 .06/20/2014 .................... ....(9,920,000) -1................... .......(280,094) ...................... .........(25,076) ...............(94,176) ....... .........(94,176) ...........(3,806) ...................... .........(13,250) ...................... ...................... 2.................... 2....................
          CDX IG 12 Variable Rate Credit                                                                                                       JP Morgan Chase
          Default Swap                                        Multiple........................................... N/A......... Credit......... & Co            .05/04/2009 .06/20/2014 .................... .....9,920,000 97.176472...... ...................... ...................... ...................... ............................ ....... ...................... ...................... ...................... ...................... ...................... ...................... 2.................... 2....................
          CDX IG 12 Fixed Rate Credit                                                                                                          JP Morgan Chase
          Default Swap                                        Multiple........................................... N/A......... Credit......... & Co            .05/07/2009 .06/20/2014 .................... ....(9,920,000) -1................... .......(165,804) ...................... .........(25,076) ...............(94,176) ....... .........(94,176) ...........(9,171) ...................... ...........(7,886) ...................... ...................... 2.................... 2....................
          CDX IG 12 Variable Rate Credit                                                                                                       JP Morgan Chase
          Default Swap                                        Multiple........................................... N/A......... Credit......... & Co            .05/07/2009 .06/20/2014 .................... .....9,920,000 98.328587...... ...................... ...................... ...................... ............................ ....... ...................... ...................... ...................... ...................... ...................... ...................... 2.................... 2....................
          Goodrich Corp Fixed Rate Credit                                                                                     JP Morgan Chase
          Default Swap                                        Goodrich Corp 38238QAL0........... N/A......... Credit......... & Co            .02/04/2009 .03/20/2014 .................... ....(5,000,000) -0.95.............. ...................... ...................... .........(12,007) ...............(88,370) ....... .........(88,370) ..........40,649 ...................... ...................... ...................... ...................... 2.................... 2....................
          Goodrich Corp Variable Rate Credit                                                                 JP Morgan Chase
          Default Swap                       Goodrich Corp 38238QAL0........... N/A......... Credit......... & Co            .02/04/2009 .03/20/2014 .................... .....5,000,000 99.99945........ ...................... ...................... ...................... ............................ ....... ...................... ...................... ...................... ...................... ...................... ...................... 2.................... 2....................
          Newell Rubbermaid Inc Fixed Rate Newell Rubbermaid Inc                                                                                JP Morgan Chase
          Credit Default Swap              651229AF3                                                               N/A......... Credit......... & Co            .02/05/2009 .03/20/2013 .................... ....(5,000,000) -2.5................ ...................... ...................... .........(31,597) .............(299,208) ....... .......(299,208) ............3,423 ...................... ...................... ...................... ...................... 2.................... 2....................
          Newell Rubbermaid Inc Variable                      Newell Rubbermaid Inc                                                             JP Morgan Chase
          Rate Credit Default Swap                            651229AF3                                            N/A......... Credit......... & Co            .02/05/2009 .03/20/2013 .................... .....5,000,000 100.005518.... ...................... ...................... ...................... ............................ ....... ...................... ...................... ...................... ...................... ...................... ...................... 2.................... 2....................
          0929999. Total-Swaps-Hedging Other-Credit Default..................................................................................................... ............................................................................................................. .......(445,898) ...................0                     .......(188,548) ..........(1,506,664) XXX ....(1,506,664) ..........60,537 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......
QE06.11




          0969999. Total-Swaps-Hedging Other............................................................................................................................ ............................................................................................................. .......(445,898) ...................0             .......(188,548) ..........(1,506,664) XXX ....(1,506,664) ..........60,537 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......
          1169999. Total-Swaps-Credit Default............................................................................................................................. ............................................................................................................. .......(445,898) ...................0           .......(188,548) ..........(1,506,664) XXX ....(1,506,664) ..........60,537 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......
          1209999. Total-Swaps.................................................................................................................................................... ............................................................................................................. .......(445,898) ...................0   .......(188,548) ..........(1,506,664) XXX ....(1,506,664) ..........60,537 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......
          1399999. Total-Hedging Effective................................................................................................................................... ............................................................................................................. ..104,821,117 ....32,820,782 ...................0              .......226,742,085 XXX ..226,742,085 ....34,979,980 ...................0 ...................0 ...................0 ...................0 ........XXX....... ........XXX.......
          1409999. Total-Hedging Other........................................................................................................................................ ............................................................................................................. .......(445,898) ...................0       .......(188,548) ..........(1,506,664) XXX ....(1,506,664) ..........60,537 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......
          1449999. TOTAL............................................................................................................................................................ ............................................................................................................. ..104,375,219 ....32,820,782          .......(188,548) .......225,235,421 XXX ..225,235,421 ....35,040,517 ...................0 .........(21,136) ...................0 ...................0 ........XXX....... ........XXX.......




                 (a)          Code                  Financial or Economic Impact of the Hedge at the End of the Reporting Period

                              1                     The hedge effectiveness cannot be measured at inception. At 3/31/2010, the change in fair value of the derivative hedging instrument over the previous quarter was 102% of the opposite change in the fair value of the hedged item attributable to the hedged risk, which is within the 80-125 percent range allowed by SSAP 86 for a highly effective hedge.
                              2                     The Company purchases credit default swaps to protect against credit risk in certain bonds. In the event the specified entity defaults, the credit default swap will make us whole on any losses incurred. In the event that the specified entity doesn't default, the credit default swap expires worthless.
           Statement as of March 31, 2010 of the                              Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                                             SCHEDULE DB - PART B - SECTION 1
                                                                                                                                                                                                                                                              Futures Contracts Open as of Current Statement Date
             1                      2                          3                                                      4                                                                                5                                                     6                         7                      8                      9                     10                       11                          12                            13                                                Change in Variation Margin                                                               18                      19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         14                       15                  16                                     17                                                Hedge
                                                                                                                                                                                                                                                                                                                                                                                                                                          Book/                                              Gain (Loss)          Gain (Loss)                                                                              Effectiveness
                                                                                                                                                                                                Description                                           Schedule/                                         Date of                                                                                            Reporting                     Adjusted                                            Recognized            Used to                                                                                  at Inception
         Ticker              Number of                    Notinoal                                                                                                                              of Hedged                                              Exhibit                    Type(s)              Maturity or                                       Trade               Transaction                     Date                        Carrying                                             in Current       Adjust Basis of                                                       Potential                 and at
         Symbol              Contracts                    Amount                                              Description                                                                         Item(s)                                             Identifier                  of Risk              Expiration              Exchange                  Date                   Price                        Price                        Value                     Cumulative                   Year            Hedged Item                             Deferred                    Exposure             Quarter-end (a)


       Long Futures
       Hedging Effective
       R2M0....... .................149 ...............53,400 Russel 2000............................................................... Multiple....................................................................... N/A.................. Equity/Index.... .06/18/2010 ICE.................. Various...... ....................672 ....................677                                                                   .................73,965       ...............272,340   .................63,525 ............................. ............................. ...............596,000 1...........................
       SPM0....... ...................72 ...............66,750 S&P 500 FUTURE..................................................... Multiple....................................................................... N/A.................. Equity/Index.... .06/18/2010 CME................ Various...... .................1,146 .................1,165                                                                             ...............338,100        ............1,281,600    ...............302,250 ............................. ............................. ............1,620,000 1...........................
       1279999. Total-Long Futures-Hedging Effective.......................................................................................................................................................................... ........................ ........................................................................................................................................................... ...............412,065                      ............1,553,940    ...............365,775     ..........................0   ..........................0   ............2,216,000 .........XXX.............
       1329999. Total-Long Futures....................................................................................................................................................................................................... ........................ ........................................................................................................................................................... ...............412,065           ............1,553,940    ...............365,775     ..........................0   ..........................0   ............2,216,000 .........XXX.............
       1399999. Total-Hedging Effective................................................................................................................................................................................................ ...................................................................................................................................................................................... ...............412,065           ............1,553,940    ...............365,775     ..........................0   ..........................0   ............2,216,000 .........XXX.............
       1449999. TOTAL.......................................................................................................................................................................................................................... ...................................................................................................................................................................................... ...............412,065   ............1,553,940    ...............365,775     ..........................0   ..........................0   ............2,216,000 .........XXX.............
QE07




                 (a)          Code             Financial or Economic Impact of the Hedge at the End of the Reporting Period

                              1                The hedge effectiveness cannot be measured at inception. At 3/31/2010, the change in fair value of the derivative hedging instrument over the previous quarter was 102% of the opposite change in the fair value of the hedged item attributable to the hedged risk, which is within the 80-125 percent range allowed by SSAP 86 for a highly effective hedge.




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Net Cash
       Broker Name                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Deposits
       Brokers
       Goldman Sachs...................................................................................................................................................................................................... ....................................................................................................................................................................................... ................................................................................................................................. ........................5,817,508
       Total Net Cash Deposits......................................................................................................................................................................................... ....................................................................................................................................................................................... ................................................................................................................................. ........................5,817,508
            Statement as of March 31, 2010 of the                             Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                                    SCHEDULE DB - PART D
                                                                                                                                                                                                       Showing Counterparty Exposure for Derivative Instruments Open as of Current Statement Date
                                                             1                                                                   2                      3                                 4                                                                      Book Adjusted Carrying Value                                                                                                                         Fair Value                                                                                        11                                                 12
                                                                                                                                                                                                                                    5                                         6                                                  7                                             8                                           9                                            10
                                                                                                                                                    Credit                                                                    Contracts With                           Contracts With
                                                 Description                                                                Master                 Support                          Fair Value                                Book Adjusted                            Book Adjusted                                                                                     Contracts                                    Contracts                                                                                                                                     Off-Balance
                                           Counterparty or Exchange                                                       Agreement                 Annex                         of Acceptable                                 Carrying                                  Carrying                                       Exposure Net                                      Fair                                         Fair                                     Exposure Net                                     Potential                                            Sheet
                                                   Traded                                                                  (Y or N)                (Y or N)                         Collateral                                  Value > 0                                 Value < 0                                       of Collateral                                  Value > 0                                    Value < 0                                   of Collateral                                   Exposure                                           Exposure


       Exchange Traded Derivatives
       0199999. Exchange Traded............................................................................ .....XXX......... .....XXX.........                       ................XXX.......................... .................................5,817,508 ................................................. .................................5,817,508 .................................5,817,508 ................................................. .................................5,817,508 .................................2,216,000 .................................2,216,000
       NAIC 1 Designation
       Barclays Bank PLC......................................................................................... .....Y.............. .....Y..............           ...............................33,690,000    .............................155,110,679     ............................(101,614,349)    ...............................19,806,330    .............................155,110,679     ............................(101,614,349)    ...............................19,806,330    .................................................   ..............................................0
       Credit Suisse FB Int........................................................................................ .....Y.............. .....Y..............         ...............................81,556,000    .............................204,214,053     ............................(117,954,265)    .................................4,703,788   .............................204,214,053     ............................(117,954,265)    .................................4,703,788   .................................................   ..............................................0
       JP Morgan Chase & Co................................................................................... .....Y.............. .....Y..............              ...............................27,475,000    .............................119,484,237     ..............................(72,492,428)   ...............................19,516,809    .............................119,484,237     ..............................(72,492,428)   ...............................19,516,809    .................................................   ..............................................0
       Merrill Lynch Intl.............................................................................................. .....Y.............. .....Y..............     ...............................33,890,000    ...............................86,757,707    ..............................(48,270,213)   .................................4,597,494   ...............................86,757,707    ..............................(48,270,213)   .................................4,597,494   .................................................   ..............................................0
       0299999. Total NAIC 1 Designation................................................................................................................              .............................176,611,000     .............................565,566,676     ............................(340,331,255)    ...............................48,624,421    .............................565,566,676     ............................(340,331,255)    ...............................48,624,421     ..............................................0    ..............................................0
       0899999. Totals.............................................................................................................................................   .............................176,611,000     .............................571,384,184     ............................(340,331,255)    ...............................54,441,929    .............................571,384,184     ............................(340,331,255)    ...............................54,441,929    .................................2,216,000          .................................2,216,000
QE08
Statement as of March 31, 2010 of the                         Life Insurance Company of the Southwest
                                                                                                                             SCHEDULE E - PART 1 - CASH
                                                                                                                                               Month End Depository Balances
                                                                    1                                                                               2                    3                      4                              5                                        Book Balance at End of Each                                  9
                                                                                                                                                                                          Amount of                       Amount of                                     Month During Current Quarter
                                                                                                                                                                      Rate                  Interest                   Interest Accrued                         6                    7                              8
                                                                                                                                                                       of               Received During                    at Current
                                                             Depository                                                                          Code               Interest            Current Quarter                 Statement Date                  First Month               Second Month                Third Month            *


Open Depositories
Chase Bank..................................................................... New York, NY.......................................... ................... ..................... ................................ ................................ ...........(7,537,556) ..............(485,357) ..........20,921,367 XXX..
Chase Bank..................................................................... Dallas, TX................................................ ................... ..................... ................................ ................................ ...............370,803   ...............494,475     ...............307,822 XXX..
Chase Bank..................................................................... San Angelo, TX....................................... ................... ..................... ................................ ................................ .........(13,841,582) .........(13,870,483) .........(11,894,257) XXX..
State Street Bank............................................................. Boston, MA.............................................. ................... ..................... ................................ ................................ ...............127,943 ..............(117,974) ...............125,423 XXX..
Bank of New York - Mellon.............................................. Dallas, TX................................................ ................... ..................... ................................ ................................ ............1,090,626            ............5,282,236      ............2,906,182 XXX..
0199999. Total Open Depositories.................................................................................................... ....XXX........ ......XXX........ .............................0 .............................0 .........(19,789,766) ...........(8,697,103) ..........12,366,536 XXX..
0399999. Total Cash on Deposit......................................................................................................... ....XXX........ ......XXX........ .............................0 .............................0 .........(19,789,766) ...........(8,697,103) ..........12,366,536 XXX..
0499999. Cash in Company's Office................................................................................................... ....XXX........ ......XXX........ ..........XXX............... ..........XXX............... ...................2,024                       ...................2,024   ...................2,024 XXX..
0599999. Total Cash........................................................................................................................... ....XXX........ ......XXX........ .............................0 .............................0 .........(19,787,742) ...........(8,695,080) ..........12,368,560 XXX..




                                                                                                                                                                     QE09
            Statement as of March 31, 2010 of the                                Life Insurance Company of the Southwest
                                                                                                                                                                                                                                                     SCHEDULE E - PART 2 - CASH EQUIVALENTS
                                                                                                                                                                                                                                                                         Show Investments Owned End of Current Quarter
                                                                                                                                           1                                                                                                                                 2                        3                                            4                                            5                                                      6                                                                     7                                                                     8

                                                                                                                                                                                                                                                                                                   Date                                       Rate of                                      Maturity                                          Book/Adjusted                                                      Amount of Interest                                                     Amount Received
                                                                                                                                   Description                                                                                                                            Code                   Acquired                                     Interest                                      Date                                             Carrying Value                                                      Due & Accrued                                                           During Year

       U.S. Government Issuer Obligations
       US Treasury....................................................................................................................................................................................................................................................   ........... .....................03/23/2010 ..........................................0.100 .....................04/15/2010 .....................................................22,998,531 .................................................................575 ........................................................................
       0199999. U.S. Government Issuer Obligations.................................................................................................................................................................................................... ....................................................................................................................................................... .....................................................22,998,531 .................................................................575 .....................................................................0
       0399999. Total - U.S. Government Bonds............................................................................................................................................................................................................ ....................................................................................................................................................... .....................................................22,998,531 .................................................................575 .....................................................................0
       U.S. Special Revenue & Special Assessment Obligations and all Non-Guaranteed Obligations of Agencies and Authorities of Governments and Their Political Subdivision - Issuer Obligations
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/23/2010 ..........................................0.080 .....................04/01/2010 .....................................................19,999,600 .................................................................400 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/24/2010 ..........................................0.080 .....................04/05/2010 .......................................................9,899,736 .................................................................176 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/31/2010 ..........................................0.010 .....................04/07/2010 .......................................................1,239,998 ........................................................................ ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/23/2010 ..........................................0.100 .....................04/07/2010 .....................................................13,999,417 .................................................................350 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/30/2010 ..........................................0.070 .....................04/09/2010 .....................................................21,999,572 ...................................................................86 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/31/2010 ..........................................0.010 .....................04/13/2010 .....................................................30,599,890 .....................................................................9 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/31/2010 ..........................................0.010 .....................04/15/2010 .......................................................4,079,983 .....................................................................1 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/25/2010 ..........................................0.090 .....................04/15/2010 .....................................................16,675,125 .................................................................292 ........................................................................
       FHLB...........................................................................................................................................................................................................................................................   ........... .....................03/25/2010 ..........................................0.090 .....................04/19/2010 .....................................................19,798,763 .................................................................346 ........................................................................
       2599999. U.S. Special Revenue & Special Assessment Obligations - Issuer Obligations................................................................................................................................... ....................................................................................................................................................... ...................................................138,292,084 ..............................................................1,660 .....................................................................0
       3199999. Total - U.S. Special Revenue & Special Assessment Obligations and all Non-Guaranteed Obligations............................................................................................. ....................................................................................................................................................... ...................................................138,292,084 ..............................................................1,660 .....................................................................0
       Total
QE10




       7799999. Subtotals - Issuer Obligations............................................................................................................................................................................................................... ....................................................................................................................................................... ...................................................161,290,615 ..............................................................2,235 .....................................................................0
       8399999. Subtotals - Bonds.................................................................................................................................................................................................................................. ....................................................................................................................................................... ...................................................161,290,615 ..............................................................2,235 .....................................................................0
       8699999. Total - Cash Equivalents....................................................................................................................................................................................................................... ....................................................................................................................................................... ...................................................161,290,615 ..............................................................2,235 .....................................................................0

				
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