Description: From the Record 1977 Vol. 3, No. 1, this presentation is from a concurrent session at the Society of Actuaries 1977 Regional Meeting, held in Atlanta March 31-April 1. The presenters at this session discuss the sources of funds for stock life insurance companies, including debt, capital, policyholders, and coinsurance, and the prioritization of the use of funds. “Enterprise risk exposure and management” and policyholder vs. shareholder dividend philosophy are additional topics.