— BOARD OF DIRECTORS —Peter J. Hennessey III, CLU, FLMI

Chairman of the Board, President, and CEOR. Clark Boddy

Cristy J. Farley, JD C. Alan Ferguson, JD, CLU, FLMI

Eugene E. Habiger General, USAF Retired

Peter J. Hennessey IV, LLIF, FLMIPamela A. Hutchins, FSA, MAAA

Cynthia Taylor Krier JD, Judge Retired

Maria de Lourdes Mendoza, CPA, FLMINeal T. Jaco

Lieutenant General, USA Retired, Advisory Director

— SENIOR OFFICERS —Peter J. Hennessey III, CLU, FLMI

Chairman of the Board, President and CEOPeter J. Hennessey IV, LLIF, FLMI

Executive Vice President and Chief Operating OfficerC. Alan Ferguson, JD, CLU, FLMI

Senior Vice President and Senior Corporate CounselPamela A. Hutchins, FSA, MAAA

Senior Vice President and Chief ActuaryTonya E. Carroll, CLU, CSA, FLMI

Vice President – Customer Experience Officer Robert R. Draper, CFA, MBA

Vice President – InvestmentsCristy J. Farley, JD

Vice President, General Counsel and SecretaryGregory M. Lawler, MBA, FLMI

Commander, USN Retired Vice President – Chief Information Officer

Maria de Lourdes Mendoza, CPA, FLMI Vice President and TreasurerJay Moyer, ChFEBC, LLIF

Vice President – Director of MarketingWallace D. Taylor, CLU, ChFC

Vice President and Corporate Underwriting OfficerMichael E. Dever, M.D.

Medical Director

Government Personnel Mutual Life Insurance Company (GPM Life)

P.O. Box 659567, San Antonio, TX 78265(210) 357-2222 1-800-938-4765

www.gpmlife.com

ServeTo be worthy of reliance or trustTo be a servant toTo give the service and respect

Merriam Webster dictionary

ServiceProvide quality assistance to those we serve.

a GPM Life Core Value

Financial Strength RatingA.M. Best Company

GPM Life maintained its A.M. Best Rating of

A- (Excellent) as of the last date of review, March 1, 2019. For details on the latest rating and the exact type, numerical order, scope, and extent of the rating, see the website: www.ambest.com.

GOVERNMENT PERSONNEL MUTUAL LIFE INSURANCE COMPANY

STATEMENT OF FINANCIAL CONDITION

December 31, 2018

Invested Assets $790,760,808

Total Assets $820,201,055

Total Liabilities $705,450,168

Surplus $114,750,887

2018 Net Income ($883,548)

2018 Net Increase In Surplus ($2,001,748)

Who We ServeGPM Life serves individuals and families from all walks of life. Many of our custom-ers are Federal employees, active duty or retired military, seniors and individuals who are purchasing or refinancing their family home. The products we offer are designed to be cost-effective solutions that specifically address the needs of our markets and customers we serve.

We continually strive to be worthy of the trust our policyholders have placed in us to help protect their vision of their family’s financial plan. We help protect their vision and their money by managing a conservative investment portfolio with a long-term strategy.

InvestmentsThe Federal Reserve continued to raise interest rates in 2018. GPM Life contin-ues to purchase highly rated bonds and make mortgage loans on commercial properties meeting GPM Life’s conser-vative underwriting requirements. Our investment philosophy remains unchanged: balance safety of princi-pal with adequate returns to meet the long-term financial needs of our policy-holders. The Net Investment Yield was 4.70% in 2018.

Life Insurance Sales PerformanceThe GPM Life Group experienced solid growth in 2018. Our sales of individual life insurance policies outpaced the industry and our insurance amount in-force grew by almost 12%. This growth is due in large part to our focus on life insurance products that address the specific needs of the customers and markets we serve. We provide specialized products for new home buyers, alternative opportunities for retiring Federal employees, and simple-to-use products for individuals.

GPM Health and Life successfully introduced the Medicare Supplement (MedSupp) suite of products, now available in 21 states.

Our products are offered through independent life and health insurance agents, most of whom participate in professional development and training programs to assure they stay abreast of the needs of customers and of changes to the markets they serve.

2019A N N U A L M E E T I N G

W E D N E S D A Y

APRIL 109:00 a.m.

The Annual Meeting of the GPM Life Policyholders will be held Wednesday, April 10, 2019, at 9:00 a.m. in the Home Office, GPM Life Building, 2211 N.E. Loop 410, San Antonio, Texas, 78217.

Attendees will receive a full report on financial operations for 2018 and will have the opportunity to participate in the election of Directors.

All policyholders are cordially invited to attend the meeting, or to return their proxy if unable to attend.

Life HintLife insurance isn’t for you.

It’s for them.