ARM Financial Group, Inc. provides indexed and variable annuities, face amount certificates and institutional products to bank trust departments, plan sponsors, cash management funds, corporate treasurers and other institutional investors. The subsidiaries of the company include Integrity Life Insurance Company, National Integrity Insurance Company, ARM Securities Corporation and SBM Certificate Company. During the year 1999, the company discontinued its institutional business. Retail spread products and options accounted for 87% of 1999 revenues; retail variable fund options, 10% and corporate and other, 3%.