August 7, 2024 Reinsurance

2024 Supplemental Report Q2 Quarterly Statement

U.S. Markets via PUBT

STATEMENT AS OF JUNE 30, 2024 OF THE RiverSource Life Insurance Company

ASSETS

			Current Statement Date		4
		1	2		3	December 31
					Net Admitted Assets	Prior Year Net
		Assets	Nonadmitted Assets		(Cols. 1 - 2)	Admitted Assets
1.	Bonds	............ 7,948,137,965	...................................	............	7,948,137,965	............ 8,371,150,828
2.	Stocks:
	2.1 Preferred stocks	...................................	...................................	...................................	...................................
	2.2 Common stocks	486,882,248	...................................	...............	486,882,248	................490,369,360

3. Mortgage loans on real estate:

	3.1 First liens	1,259,883,185	...................................	1,259,883,185	1,314,850,716
	3.2 Other than first liens	...................................	...................................	...................................	...................................
4.	Real estate:
	4.1 Properties occupied by the company (less $
	encumbrances)	70,582,348	...................................	70,582,348	72,173,765
	4.2 Properties held for the production of income (less
	$	encumbrances)	...................................	...................................	...................................	...................................
	4.3 Properties held for sale (less $

	.......................................................................................encumbrances)	...................................	...................................	...................................	...................................
5.	Cash ($	217,773,905 ), cash equivalents
	($	1,522,377,802	) and short-term
	investments ($	)	1,740,151,707	...................................	1,740,151,707	2,121,399,403
6.	Contract loans (including $	................................... premium notes)	889,733,616	292,048	889,441,568	857,623,810
7.	Derivatives		5,998,894,210	...................................	5,998,894,210	4,857,567,920
8.	Other invested assets	26,340,507	1,698,201	24,642,306	10,812,755
9.	Receivables for securities	143,609,272	...................................	143,609,272	142,059,219
10.	Securities lending reinvested collateral assets	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	...................................	...................................	...................................	...................................
12.	Subtotals, cash and invested assets (Lines 1 to 11)	18,564,215,058	1,990,249	18,562,224,809	18,238,007,776
13.	Title plants less $	charged off (for Title insurers
	only)		...................................	...................................	...................................	...................................
14.	Investment income due and accrued	96,085,742	...................................	96,085,742	94,806,527

15. Premiums and considerations:

15.1	Uncollected premiums and agents' balances in the course of collection	5,629,820	58,691	5,571,129	5,636,761
15.2	Deferred premiums, agents' balances and installments booked but
	...................................deferred and not yet due (including $
	earned but unbilled premiums)	...................................	...................................	...................................	...................................
15.3	Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	................................... ................................... ................................... ...................................

16. Reinsurance:

	....................................................16.1 Amounts recoverable from reinsurers	................122,175,609	...................................	................122,175,609	................123,154,187
	16.2 Funds held by or deposited with reinsured companies	...................................	...................................	...................................	...................................
	16.3 Other amounts receivable under reinsurance contracts	...................................	...................................	...................................	...................................
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	....Current federal and foreign income tax recoverable and interest thereon	................409,987,194	...................................	................409,987,194	................228,157,127
18.2	Net deferred tax asset	...................................................................................	................288,466,017	...................... 285,670	................288,180,347	................398,755,580
19.	Guaranty funds receivable or on deposit	................. 29,407,326	...................................	................. 29,407,326	................. 29,407,326
20.	Electronic data processing equipment and software	................. 34,911,801	................. 34,911,801	...................................	...................................
21.	Furniture and equipment, including health care delivery assets
	($	)	........................ 12,250	........................ 12,250	...................................	...................................
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	Receivables from parent, subsidiaries and affiliates	................. 42,082,436	...................................	................. 42,082,436	................. 42,904,605
24.	Health care ($	) and other amounts receivable	...................................	...................................	...................................	...................................
25.	Aggregate write-ins for other than invested assets	............ 5,122,489,825	...................1,598,485	............ 5,120,891,340	............ 4,623,678,637
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	.......... 24,715,463,078	................. 38,857,146	.......... 24,676,605,932	.......... 23,784,508,526

27. From Separate Accounts, Segregated Accounts and Protected Cell

	Accounts	85,957,223,317	...................................	85,957,223,317	81,332,932,322
28.	Total (Lines 26 and 27)	110,672,686,395	38,857,146	110,633,829,249	105,117,440,848
	DETAILS OF WRITE-INS
1101.	......................................................................................................................	....................................	....................................	....................................	....................................
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	Summary of remaining write-ins for Line 11 from overflow page	...................................	...................................	...................................	...................................
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)
2501.	Derivative collateral	............ 2,608,955,838	...................................	............ 2,608,955,838	............ 2,373,147,654
2502.	Net deferred losses from variable annuity hedge	............ 2,317,581,668	...................................	............ 2,317,581,668	............ 2,053,806,791
2503.	Business owned life insurance	................109,381,404	...................................	................109,381,404	................109,619,783
2598.	Summary of remaining write-ins for Line 25 from overflow page	................. 86,570,915	...................1,598,485	................. 84,972,430	................. 87,104,409
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	5,122,489,825	1,598,485	5,120,891,340	4,623,678,637

STATEMENT AS OF JUNE 30, 2024 OF THE RiverSource Life Insurance Company

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current	December 31
					Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	.......... 11,283,502,326	less $	included in Line 6.3
	(including $	Modco Reserve)		11,283,502,326	11,414,960,358
2.	Aggregate reserve for accident and health contracts (including $	Modco Reserve)	3,050,726,037	3,064,920,146
3.	Liability for deposit-type contracts (including $	Modco Reserve)	57,930,778	40,059,588
4.	Contract claims:
	4.1 Life			43,956,304	53,813,934
	4.2 Accident and health			17,755,286	18,759,801
5.	Policyholders' dividends/refunds to members $	and coupons $	due
	and unpaid			...................................	...................................

6. Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated amounts:

6.1 Policyholders' dividends and refunds to members apportioned for payment (including $ ...................................

		Modco)	...................................	...................................
	6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	Modco)	...................................
	6.3	Coupons and similar benefits (including $	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
	$	................................... discount; including $	3,079,865 accident and health premiums	...................5,102,640	................... 5,240,330

9. Contract liabilities not included elsewhere:

	9.1	Surrender values on canceled contracts		...................................	...................................
	9.2	Provision for experience rating refunds, including the liability of $	................................... accident and health
		experience rating refunds of which $	is for medical loss ratio rebate per the Public Health
		Service Act			1,215,300	1,419,100
	9.3 Other amounts payable on reinsurance, including $	assumed and $	................. 31,833,891
		ceded			31,833,891	35,558,544
	9.4 Interest Maintenance Reserve		...................................	...................................
10.	Commissions to agents due or accrued-life and annuity contracts $	................................... , accident and health
	$	...................................	and deposit-type contract funds $	............................. 259	.................................7
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed	...................................	...................................
12.	............................................................................................................................................General expenses due or accrued		................. 16,290,049	................. 21,479,394
13.	Transfers to Separate Accounts due or accrued (net) (including $	(2,280,388,237) accrued for expense
	allowances recognized in reserves, net of reinsured allowances)		...........(2,193,006,873)	.......... (2,279,236,264)
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes	................. 28,009,025	................. 31,115,592
15.1 Current federal and foreign income taxes, including $	on realized capital gains (losses)	...................................	...................................
15.2	Net deferred tax liability			...................................	...................................
16.	Unearned investment income		................... 2,316,959	................... 2,345,017
17.	.......................................................................................Amounts withheld or retained by reporting entity as agent or trustee		...................8,208,429	...................6,895,519
18.	Amounts held for agents' account, including $	agents' credit balances	...................................	...................................
19.	........................................................................................................................................Remittances and items not allocated		................116,754,680	................. 91,556,564
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 $	200,000,000 and interest thereon $	................. 10,161,106	............... 210,161,106	................210,179,333
23.	.......................................................................................................................Dividends to stockholders declared and unpaid		...................................	...................................
24.	Miscellaneous liabilities:
	...................................................................................................................................................24.01 Asset valuation reserve		................. 34,137,632	................. 35,549,915
	24.02 Reinsurance in unauthorized and certified ($	) companies	...................................	...................................
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	) reinsurers	...................................	...................................
	24.04 Payable to parent, subsidiaries and affiliates		..................72,237,772	................. 65,967,479
	...........................................................................................................................................................24.05 Drafts outstanding			...................................	...................................
	............................................................................................................24.06 Liability for amounts held under uninsured plans		...................................	...................................
	........................................................................................................................................24.07 Funds held under coinsurance		...................................	...................................
	24.08 Derivatives			............ 7,193,199,741	............ 5,817,963,622
	24.09 Payable for securities			................874,167,016	................904,230,729
	.........................................................................................................................................24.10 Payable for securities lending		...................................	...................................
	24.11 Capital notes $	and interest thereon $	................................... ...........................................	...................................	...................................
25.	Aggregate write-ins for liabilities		1,258,989,002	1,186,580,992
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)	.....................................................................................	22,113,487,359	20,729,359,700
27.	From Separate Accounts Statement		85,956,880,104	81,330,955,035
28.	Total liabilities (Lines 26 and 27)		108,070,367,463	102,060,314,735
29.	Common capital stock			3,000,000	3,000,000
30.	..............................................................................................................................................................Preferred capital stock			...................................	...................................
31.	..........................................................................................................Aggregate write-ins for other than special surplus funds		...................................	...................................
32.	............................................................................................................................................................................Surplus notes			............... 500,000,000	............... 500,000,000
33.	Gross paid in and contributed surplus		650,731,922	1,050,731,922
34.	Aggregate write-ins for special surplus funds		2,347,219,914	2,085,017,230
35.	Unassigned funds (surplus)			(937,490,050)	(581,623,039)

36. Less treasury stock, at cost:

	36.1	shares common (value included in Line 29	$	................................... )	...................................	...................................
	36.2	shares preferred (value included in Line 30	$	................................... )	...................................	...................................
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	343,213	in Separate Accounts Statement)	2,560,461,786	3,054,126,113
38.	Totals of Lines 29, 30 and 37	...................................................................................................................................................			2,563,461,786	3,057,126,113
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				110,633,829,249	105,117,440,848
	DETAILS OF WRITE-INS
2501.	Derivative collateral				............ 1,258,930,980	............ 1,186,535,083
2502.	Miscellaneous liabilities				........................ 58,022	........................ 45,909
2503	....................................	....................................
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			...................................	...................................
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)				1,258,989,002	1,186,580,992
3101	....................................	....................................

3102	....................................	....................................
3103	....................................	....................................
3198.	Summary of remaining write-ins for Line 31 from overflow page	...................................	...................................
3199.	Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)
3401.	Surplus from variable annuity hedge	2,317,581,668	2,053,806,791
3402.	Surplus from admitted disallowed IMR	................. 29,638,246	................. 31,210,439
3403	....................................	....................................
3498.	Summary of remaining write-ins for Line 34 from overflow page	...................................	...................................
3499.	Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)	2,347,219,914	2,085,017,230

STATEMENT AS OF JUNE 30, 2024 OF THE RiverSource Life Insurance Company

SUMMARY OF OPERATIONS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Premiums and annuity considerations for life and accident and health contracts	............ 3,022,958,505	............ 2,294,114,602	............ 4,973,784,625
2.	Considerations for supplementary contracts with life contingencies
...................................	...................................	...................................
3.	Net investment income	................380,691,216	................524,221,007	................915,308,649
4.	Amortization of Interest Maintenance Reserve (IMR)	................. (7,941,172)	................. (4,296,902)	................(11,872,403)
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	..............(515,933,925)	..............(480,067,821)	..............(478,397,026)
6.	Commissions and expense allowances on reinsurance ceded	................. 27,601,771	................. 27,936,708	................. 57,026,904
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	................765,872,111	................760,596,609	............ 1,539,809,338
	8.2 Charges and fees for deposit-type contracts	...................................	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	262,082,929	254,383,619	505,918,975
9.	Totals (Lines 1 to 8.3)	3,935,331,435	3,376,887,822	7,501,579,062
10.	Death benefits	150,240,238	............... 150,886,622	................293,812,235
11.	Matured endowments (excluding guaranteed annual pure endowments)	...................................	...................................	...................................
12.	Annuity benefits	................565,297,346	................501,037,217	................988,715,737
13.	Disability benefits and benefits under accident and health contracts	............... 118,966,215	................112,045,847	................231,613,309
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	............ 3,232,853,400	............ 2,457,757,686	............ 5,197,902,550
16.	Group conversions	...................................	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	.......................207,473	...................... 988,125	................... 1,223,786
18.	Payments on supplementary contracts with life contingencies	..........................4,214	..........................4,214	..........................8,429
19.	Increase in aggregate reserves for life and accident and health contracts	(145,652,141)	(265,418,908)	(281,136,025)
20.	Totals (Lines 10 to 19)	............ 3,921,916,745	............ 2,957,300,803	............ 6,432,140,021
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................235,423,137	................207,380,091	................426,794,141
22.	Commissions and expense allowances on reinsurance assumed	...................................	...................................	...................................
23.	General insurance expenses and fraternal expenses	................195,869,726	................201,182,574	................393,171,383
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................. 18,653,122	................. 22,083,681	................. 48,432,809
25.	Increase in loading on deferred and uncollected premiums	.......................(42,300)	.....................(663,167)	.....................(707,624)
26.	Net transfers to or (from) Separate Accounts net of reinsurance	..............(834,613,529)	..............(676,111,406)	.......... (1,199,415,560)
27.	Aggregate write-ins for deductions
242,699	231,800	486,398
28.	Totals (Lines 20 to 27)	3,537,449,600	2,711,404,376	6,100,901,568
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................397,881,835	................665,483,446	............ 1,400,677,494
30.	Dividends to policyholders and refunds to members
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................397,881,835	................665,483,446	............ 1,400,677,494
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	6,909,485	51,069,606	69,353,294
33.	Net gain from operations after dividends to policyholders, refunds to members and federal income
	taxes and before realized capital gains or (losses) (Line 31 minus Line 32)	................390,972,350	................614,413,840	............ 1,331,324,200

34. Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital

	gains tax of $	(189,691,358) (excluding taxes of $	(1,693,020)
	transferred to the IMR)		(713,600,822)	(370,883,432)	(486,685,664)
35.	Net income (Line 33 plus Line 34)	(322,628,472)	243,530,408	844,638,536
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	3,057,126,113	3,089,621,377	3,089,621,377
37.	Net income (Line 35)		(322,628,472)	243,530,408	844,638,536
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	.............. 74,931,802	276,392,121	(203,777,057)	(223,941,206)
39.	Change in net unrealized foreign exchange capital gain (loss)	(10,386,165)	(5,409,402)	(3,427,683)
40.	Change in net deferred income tax	(38,824,275)	(36,941,967)	(158,027,618)
41.	............................................................................................................Change in nonadmitted assets	.......................370,181	................(47,489,867)	................130,493,685
42.	.......................................Change in liability for reinsurance in unauthorized and certified companies	...................................	...................................	...................................
43.	..........................Change in reserve on account of change in valuation basis, (increase) or decrease	...................................	...................................	...................................
44.	Change in asset valuation reserve	1,412,283	(15,453,470)	(22,230,978)
45.	Change in treasury stock		...................................	...................................	...................................
46.	.........................................Surplus (contributed to) withdrawn from Separate Accounts during period	..............(514,299,851)	..............(175,624,066)	..............(175,617,403)
47.	................................................................Other changes in surplus in Separate Accounts Statement	............... 514,299,851	................175,624,066	................175,617,403
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		(400,000,000)	(400,000,000)	(600,000,000)
	........................................................................................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
54.	Net change in capital and surplus for the year (Lines 37 through 53)	(493,664,327)	(465,541,355)	(32,495,264)
55.	Capital and surplus, as of statement date (Lines 36 + 54)		2,563,461,786	2,624,080,022	3,057,126,113
	DETAILS OF WRITE-INS
..........................................................................................................................08.301. Miscellaneous income		............... 262,082,929	................254,383,619	................505,918,975
08.302.	..............................................................................................................................................................		....................................	....................................	....................................
08.303.	..............................................................................................................................................................		....................................	....................................	....................................
........................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	...................................	...................................	...................................
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)		262,082,929	254,383,619	505,918,975
2701.	Miscellaneous deductions	...................................................................................................................	242,699	231,800	486,398
2702	....................................	....................................	....................................
2703	....................................	....................................	....................................
2798.	.........................................................Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................	...................................
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)
	242,699	231,800	486,398
5301	....................................	....................................	....................................

5302. .............................................................................................................................................................. .................................... .................................... ....................................

5303. .............................................................................................................................................................. .................................... .................................... ....................................

5398. Summary of remaining write-ins for Line 53 from overflow page ............................................................................................ ................................... ...................................

5399. Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)

STATEMENT AS OF JUNE 30, 2024 OF THE RiverSource Life Insurance Company

CASH FLOW

Cash from Operations

Current Year

To Date

Prior Year

To Date

Prior Year Ended

December 31

1.	Premiums collected net of reinsurance	............ 3,024,277,431	............ 2,297,041,295	............ 4,973,596,666
2.	Net investment income	................332,161,215	................359,217,909	................703,289,149
3.	Miscellaneous income	1,056,617,359	1,039,416,890	2,102,588,001
4.	Total (Lines 1 to 3)	4,413,056,005	3,695,676,094	7,779,473,816
5.	Benefit and loss related payments	............ 4,081,177,106	............ 3,233,632,500	............ 6,705,803,847
6.	.................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	..............(768,625,791)	..............(649,903,507)	..............(994,162,676)
7.	...............................................Commissions, expenses paid and aggregate write-ins for deductions	............... 452,214,051	................413,503,378	................851,748,767
8.	Dividends paid to policyholders	...................................	...................................	...................................
9.	Federal and foreign income taxes paid (recovered) net of $	tax on capital
	gains (losses)	(2,644,826)	271,530,729	236,774,149
10.	Total (Lines 5 through 9)	3,762,120,540	3,268,763,100	6,800,164,087
11.	Net cash from operations (Line 4 minus Line 10)	650,935,465	426,912,994	979,309,729

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	................231,245,379	................553,957,073	............ 1,223,462,932
	12.2	Stocks	................... 5,606,017	................... 4,898,123	................. 86,387,439
	12.3	Mortgage loans	................. 57,276,240	................. 51,889,756	................. 94,957,683
	12.4	Real estate	...................................	...................................	...................................
	12.5	Other invested assets	................... 1,164,734	...................... 754,865	................... 1,921,107
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	................... 5,717,815	................... 1,519,795	.......................678,583
	12.7	Miscellaneous proceeds		175,330,162	341,609,553
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	................301,010,185	................788,349,774	............ 1,749,017,297
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	................172,512,115	............... 402,421,661	................800,484,673
	13.2	Stocks	................... 7,613,087	...................4,904,852	................. 12,390,199
	13.3	Mortgage loans	................... 2,308,709	................... 4,970,331	................. 12,520,331
	13.4	Real estate	...................................	...................................	...................................
	13.5	Other invested assets	................. 19,500,000	...................................	...................................
	13.6	Miscellaneous applications	742,793,524	872,154,547	1,089,354,395
	13.7	Total investments acquired (Lines 13.1 to 13.6)	944,727,435	1,284,451,391	1,914,749,598
14.	Net increase (or decrease) in contract loans and premium notes	31,813,792	25,270,029	61,597,771
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	(675,531,042)	(521,371,646)	(227,330,072)
		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	..............(400,000,000)	..............(400,000,000)	..............(600,000,000)
	16.3	Borrowed funds	...................................	...................................	...................................
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	................. 17,871,190	................. 16,276,459	................. 28,343,434
	..........................................................................................................16.5 Dividends to stockholders	...................................	...................................	...................................
	....................................................................................................16.6 Other cash provided (applied)	25,476,691	(20,911,985)	6,389,803
17.	Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus Line 16.6)	(356,652,119)	(404,635,526)	(565,266,763)
	RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	.Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	..............(381,247,696)	..............(499,094,178)	................186,712,894
19.	Cash, cash equivalents and short-term investments:
	19.1	Beginning of year	............ 2,121,399,403	............ 1,934,686,509	............ 1,934,686,509
	19.2 End of period (Line 18 plus Line 19.1)	1,740,151,707	1,435,592,331	2,121,399,403

Note: Supplemental disclosures of cash flow information for non-cash transactions:

20.0001.	Investments contributed	to separate accounts	................362,082,722	...................................	...................................
20.0002.	Capital contribution to	subsidiary	...................................	........................ 90,428	........................ 90,428

STATEMENT AS OF JUNE 30, 2024 OF THE RiverSource Life Insurance Company

EXHIBIT 1

DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Individual life	............... 541,884,122	................524,160,733	............ 1,075,904,060
2.	Group life	9,690	........................ 10,890	........................ 22,168
3.	Individual annuities	2,527,772,416	1,810,340,004	3,987,992,717
4.	Group annuities	16,379,386	19,478,413	37,482,665
5.	Accident & health	139,747,023	144,255,228	294,163,903
6.	Fraternal	...................................	...................................	...................................
7.	Other lines of business	...................................	...................................	...................................
8.	Subtotal (Lines 1 through 7)	3,225,792,637	2,498,245,268	5,395,565,513
9.	Deposit-type contracts	................. 23,010,407	................. 18,456,972	................. 33,021,355
10.	Total (Lines 8 and 9)	3,248,803,044	2,516,702,240	5,428,586,868

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NOTES TO FINANCIAL STATEMENTS

1. Summary of Significant Accounting Policies and Going Concern

Accounting Practices
The accompanying financial statements of RiverSource Life Insurance Company ("the Company" or "RiverSource Life") have been prepared in conformity with accounting practices prescribed or permitted by the State of Minnesota Department of Commerce. The Minnesota Department of Commerce has adopted the National Association of Insurance Commissioners ("NAIC") Accounting Practices and Procedures Manual as a component of its prescribed statutory accounting principles ("SAP").
A reconciliation of the Company's net income and capital and surplus between NAIC SAP and practices prescribed and permitted by the State of Minnesota is shown below:

			F/S	F/S			June 30,				December 31,
		SSAP #	Page	Line #			2024				2023
NET INCOME/(LOSS):
(1)	The Company's state basis (Page 4, Line 35, Columns 1 & 3)	XXX	XXX	XXX	$	(322,628,472)	$	844,638,536
(2)	State prescribed practices that increase/(decrease) NAIC SAP: None						-				-
(3)	State permitted practices that increase/(decrease) NAIC SAP: None						-				-
(4)	NAIC SAP (1-2-3=4)	XXX	XXX	XXX	$	(322,628,472)	$	844,638,536
SURPLUS:
(5)	The Company's state basis (Page 3, Line 38, Columns 1 & 2)	XXX	XXX	XXX	$	2,563,461,786	$	3,057,126,113
(6)	State prescribed practices that increase/(decrease) NAIC SAP: None						-				-
(7)	State permitted practices that increase/(decrease) NAIC SAP: None						-				-
(8)	NAIC SAP (5-6-7=8)	XXX	XXX	XXX		$	2,563,461,786		$	3,057,126,113

B. - D. No significant change.

Accounting Changes and Corrections of ErrorsNone.
Business Combinations and GoodwillNot applicable.
Discontinued OperationsNot applicable.
Investments

A. - C. No significant change.

Loan-Backedand Structured Securities ("LBaSS")
1. Prepayment assumptions for LBaSS are based on financial information provided by a licensed data provider. These assumptions are consistent with the current interest rate and economic environment. The retrospective method is used to value LBaSS except in situations where rate changes result in recalculation of the effective yield. The recalculated yield is used to amortize the investment as of the rate change date.
2. During the six months ended June 30, 2024, the Company had no other-than- temporary impairments ("OTTI") recognized on LBaSS due to intent to sell or inability or lack of intent to retain for a period of time sufficient to recover the amortized cost.
3. The following table provides information about LBaSS held at June 30, 2024 for which an OTTI has been recognized in the current reporting period due to the fact that the present value of cash flows expected to be collected is less than the amortized cost of the securities:

		Carrying Value		Present Value of									Date of Financial
		Before Current		Projected Cash			Recognized		Amortized Cost			Statement Where
CUSIP			Period OTTI			Flows			OTTI		After OTTI		Fair Value	Reported
15136DAC0	$	1,100,604	$	951,629	$	148,975	$	951,629	$	749,397	March 31, 2024
15137GAE8			880,419			703,716			176,703		703,716		319,908	March 31, 2024
19736VAC6			3,985,657			3,395,438			590,219		3,395,438		2,606,843	March 31, 2024
15136DAC0			817,659			720,801			96,858		720,801		701,245	June 30, 2024
15137GAE8			703,716			496,162			207,554		496,162		359,280	June 30, 2024
19736VAC6			3,183,774			2,762,649			421,125		2,762,649		2,622,089	June 30, 2024
Total								$	1,641,434

The following table provides information about investments in LBaSS for which the carrying value (amortized cost) exceeds fair value and the length of time that individual securities have continuously had amortized cost in excess of fair value, as of June 30, 2024:

a. The aggregate amount of unrealized losses:

1.	Less than 12 Months	$	913,776
2.	12 Months or Longer	$	180,345,033

b. The aggregate related fair value of securities with unrealized losses:

1.	Less than 12 Months	$	117,524,852
2.	12 Months or Longer	$	1,947,658,139

For all LBaSS for which carrying value exceeds fair value, RiverSource Life has the intent and ability to retain the investment in the security for a period of time sufficient to recover the carrying value.

1. 1. No change.
2. - R. No significant change.
Joint Ventures, Partnerships and Limited Liability CompaniesNo significant change.
Investment IncomeNo significant change.
Derivative Instruments
1. Derivatives underSSAP 86 - Derivatives ("SSAP 86")
  (1)-(4) No significant change.

(5)-(7) and (9) Not applicable.

Ｗ

NOTES TO FINANCIAL STATEMENTS

The deferred premium associated with certain options is paid or received semiannually over the life of the option contract or at maturity. The following is a summary of the payments the Company is scheduled to make for these options as of June 30, 2024:

	Derivative Premium
Fiscal Year		Payments Due
2024 (for the period from July 1, 2024 to December 31, 2024)	$	68,872,452
2025		119,082,313
2026		222,575,521
2027		19,545,043
Thereafter		361,932,190
Total future settled premiums	$	792,007,519

				Derivative Fair Value
					with Premium			Derivative Fair Value
		Undiscounted Future			Commitments			Excluding
		Premium			(Reported on		Impact of Future Settled
		Commitments			Schedule DB)			Premiums
Prior Year - 2023	$	867,477,586	$	856,219,260	$	856,219,260
Current Year - 2024		792,007,519			993,255,009			993,255,009

Derivatives under SSAP 108 - Derivative Hedging Variable Annuity Guarantees ("SSAP 108")
1. Discussion of hedged item/hedging instruments and hedging strategy: No significant change.
  As discussed in Annual Statement Note 8B(1), due to the Company's modified approach to the calculation of deferred balances, the Company leaves columns 3 through 6 of Schedule DB Part E blank. The following table presents relevant information on the hedged item, based on Company's modified approach:

Column #	5	6
	Fair Value Gain (Loss) in Full Contract Cash Flows	Fair Value Gain (Loss) in Hedged Item
Description in Schedule DB Part E	Attributed to Interest Rates	Attributed to Hedged Risk
RiverSource Life's calculation	Rho of full contract less Rho of fixed income assets	Rho of designated hedged risk
supporting variable annuity reserves

1st Quarter 2024	$21,759,819	$7,871,487
2nd Quarter 2024	$18,189,585	$6,267,869

Recognition of gains/(losses) and deferred assets and liabilities: a. Scheduled Amortization of net gains or (losses):

	Amortization Year
	For the twelve months beginning June 30		Deferred Assets		Deferred Liabilities
1.	2024	$	(288,057,680)	$	-
2.	2025		(288,057,680)			-
3.	2026		(288,057,680)			-
4.	2027		(288,057,680)			-
5.	2028		(288,057,680)			-
6.	2029		(288,057,680)			-
7.	2030		(246,362,246)			-
8.	2031		(194,974,627)			-
9.	2032		(114,056,811)			-
10	2033		(33,841,904)			-
11.	Total	$	(2,317,581,668)		$	-
b. Total Net Deferred gains/(losses)		$	(2,317,581,668)

Reconciliation of Amortization:

1.	Prior Year Net Deferred gains/(losses)	$	(2,053,806,791)
2.	Current Year Amortization	(131,212,373)
3.	Current Year Deferred Recognition	394,987,250
4.	Ending Net Deferred gains/(losses) [1-(2+3)]	$	(2,317,581,668)

1. 1. Open Derivative Removed from SSAP 108 and Captured in Scope of SSAP 86: No significant change.
  2. Open Derivative Removed from SSAP 86 and Captured in Scope of SSAP 108: No significant change.
2. Hedging Strategies Identified as No Longer Highly Effective: None.
3. Hedging Strategies Terminated: None.
Income Taxes
No significant change.
Information Concerning Parent, Subsidiaries, Affiliates and Other Related Parties
1. No significant change.
2. Cash dividends/distributions paid and received by RiverSource Life were as follows:

Six Months Ended

June 30, 2024

(in millions)

Paid to Ameriprise Financial, Inc

400

During June of 2024, the Company invested $310 million in new asset backed securities issued by Ameriprise Installment Financing, LLC, an affiliate of the Company. The asset backed securities are collateralized by a portfolio of loans issued to advisors affiliated with Ameriprise Financial Services, LLC, an affiliated broker dealer. The Company purchased these asset backed securities at their fair value. The asset backed securities are held in the Company's noninsulated separate account and therefore are carried at fair value and reported as a component of separate account assets on the Balance Sheet. As of June 30, 2024, the carrying value of these asset backed securities was $310 million.

C. - O. No significant change.

ＷＮＱ

NOTES TO FINANCIAL STATEMENTS

11. Debt

No significant change.
Federal Home Loan Bank Agreements
1. The Company is a member of the Federal Home Loan Bank ("FHLB") of Des Moines which provides access to collateralized borrowings. Members of FHLB of Des Moines benefit from a range of funding products, the ability to better manage liquidity needs and the opportunity to partner with the FHLB on affordable housing and economic development initiatives. Funding products offered include an overnight fed funds advance, short term (less than 12 months) fixed rate advance, long-term fixed rate advances (1 to 30 years), letters of credit and long- term variable rate advances.
  The Company's membership in the FHLB requires the ownership of member stock. The fair value of the assets pledged as collateral by the Company must be maintained at certain specified levels of the borrowed amount, which can vary, depending on the nature of the assets pledged.
  The Company borrows short-term funds under these FHLB borrowings. The Company accounts for the liability as a collateralized borrowing, classified in borrowed money. The Company has pledged securities consisting of commercial mortgage backed securities to collateralize its obligation to the FHLB. The securities pledged are reported in bonds.
2. FHLB Capital Stock a. Aggregate Totals 1. June 30, 2024

			1					2					3
			Total				General				Separate
			2+3					Account				Accounts
(a)	Membership Stock - Class A	$	-	$	-	$	-
(b)	Membership Stock - Class B		10,000,000					10,000,000					-
(c)	Activity Stock		9,000,000					9,000,000					-
(d)	Excess Stock		-				-				-
(e)	Aggregate Total	$	19,000,000			$	19,000,000		$	-

(f)	Estimated Borrowing Capacity as determined by the Insurer	$	3,884,000,000					XXX				XXX
2. December 31, 2023
			1					2					3
			Total				General				Separate
			2+3					Account				Accounts
(a)	Membership Stock - Class A	$	-	$	-	$	-
(b)	Membership Stock - Class B		10,000,000					10,000,000					-
(c)	Activity Stock		9,000,000					9,000,000					-
(d)	Excess Stock		-				-				-
(e)	Aggregate Total	$	19,000,000			$	19,000,000			$	-
(f)	Estimated Borrowing Capacity as determined by the Insurer	$	4,025,000,000					XXX				XXX

Membership Stock (Class A and B) Eligible and Not Eligible for Redemption

		1		2				Eligible for Redemption
						3			4	5				6
			Not Eligible				6 months to		1 to Less
	Current Year		for	Less Than 6		Less Than 1		Than 3				3 to 5
Membership Stock		Total	Redemption		Months			year		Years			Years
1. Class A	$	-	$	-	$	-	$	-	$	-	$	-
2. Class B		10,000,000		10,000,000		-			-			-			-

Collateral Pledged to FHLB
a. Amount Pledged as of Reporting Date

		1	2	3
				Aggregate
				Total
		Fair Value	Carrying Value	Borrowing
1.	Current Year Total General and Separate Accounts
	Total Collateral Pledged (Lines 2+3)	$ 1,096,482,096	$ 1,112,594,396	$ 201,411,106
2.	Current Year General Account Total Collateral Pledged	328,226,716	344,339,016	201,411,106
3.	Current Year Separate Accounts Total Collateral Pledged	768,255,380	768,255,380	-
4.	Prior Year-end Total General and Separate Accounts
	Total Collateral Pledged	1,060,827,566	1,080,111,143	201,429,333

Maximum Amount Pledged (based on carrying value) During Reporting Period
123 Amount

				Borrowed at
				Time of
				Maximum
		Fair Value	Carrying Value	Collateral
1.	Current Year Total General and Separate Accounts
	Maximum Collateral Pledged (Lines 2+3)	$ 1,096,482,096	$ 1,112,594,396	$ 201,411,106
2.	Current Year General Account Maximum Collateral Pledged	328,226,716	344,339,016	201,411,106
3.	Current Year Separate Accounts Maximum Collateral Pledged ...	768,255,380	768,255,380	-
4.	Prior Year-end Total General and Separate Accounts
	Maximum Collateral Pledged	1,060,827,566	1,080,111,143	201,429,333

Borrowing from FHLB
a. Amount as of the Reporting Date 1. Current Year

				1			2			3			4
				Total			General			Separate		Funding Agreements
				2+3			Account			Accounts		Reserves Established
(a)	Debt	$	201,411,106	$	201,411,106	$	-			XXX
(b)	Funding Agreements		-			-			-	$	-
(c)	Other		-			-			-			XXX
(d)	Aggregate Total	$	201,411,106	$	201,411,106	$	-	$	-

ＷＮＲ

NOTES TO FINANCIAL STATEMENTS

2. Prior Year-end
				1			2			3			4
				Total			General			Separate		Funding Agreements
				2+3			Account			Accounts		Reserves Established
(a)	Debt	$	201,429,333	$	201,429,333	$	-			XXX
(b)	Funding Agreements		-			-			-	$	-
(c)	Other		-			-			-			XXX
(d)	Aggregate Total	$	201,429,333	$	201,429,333	$	-	$	-

b. Maximum Amount during Reporting Period (Current Year)

				1			2		3
				Total			General		Separate
				2+3			Account		Accounts
1.	Debt	$	201,641,165	$	201,641,165	$	-
2.	Funding Agreements		-			-		-
3.	Other		-			-		-
4.	Aggregate Total	$	201,641,165	$	201,641,165	$	-

c. FHLB - Prepayment Obligations

		Does the Company have prepayment
		obligations under the following
		arrangements (YES/NO)?
1.	Debt	Yes
2.	Funding Agreements	N/A
3.	Other	N/A

Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated Absences and Other Postretirement Benefit PlansNo significant change.
Capital and Surplus, Dividend Restrictions and Quasi-ReorganizationsNo significant change.
Liabilities, Contingencies and AssessmentsNo significant change.
Leases
No significant change.
Information about Financial Instruments with Off-Balance Sheet Risk and Financial Instruments with Concentrations of Credit Risk No significant change.
Sale, Transfer and Servicing of Financial Assets and Extinguishments of LiabilitiesNo significant change.
Gain or Loss to the Reporting Entity from Uninsured Plans and the Uninsured Portion of Partially Insured PlansNot applicable.
Direct Premium Written/Produced by Managing General Agents/Third Party AdministratorsNot applicable.
Fair Value Measurements
1. The Company categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company's valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows:
  Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date. Level 2 Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

Fair Value Measurements at June 30, 2024

	Description for each class of asset													Net Asset Value
	or liability			(Level 1)				(Level 2)				(Level 3)			("NAV")	Total
a. Assets at fair value
	Bonds: Special revenue	$	-	$	2,079,000	$	-	$	-	$	2,079,000
	Cash equivalents			523,813,726				-				-			-	523,813,726
	Derivative assets:
	Interest rate contracts			164,253				806,854,322				-			-	807,018,575
	Equity contracts			31,620,742				5,127,660,340				-			-	5,159,281,082
	Foreign exchange contracts			126,375				32,468,178				-			-	32,594,553
	Total derivative assets			31,911,370				5,966,982,840				-			-	5,998,894,210
	Other invested assets			-				-				17,719,333			-	17,719,333
	Separate account assets			78,999,065				12,908,692,527				1,033,893,398			71,677,908,604	85,699,493,594
	Total assets at fair value	$	634,724,161	$	$18,877,754,367	$	1,051,612,731	$	71,677,908,604	$	92,241,999,863
b. Liabilities at fair value
	Derivative liabilities:
	Interest rate contracts	$	783,400	$	3,532,206,335	$	-	$	-	$	3,532,989,735
	Equity contracts			109,488,900				3,526,750,162				-			-	3,636,239,062
	Credit contracts			-				18,430,000				-			-	18,430,000
	Foreign exchange contracts			163,313				5,377,631				-			-	5,540,944
	Total derivative liabilities			110,435,613				7,082,764,128				-			-	7,193,199,741
	Separate account liabilities			16,305,788				550,547,910				-			-	566,853,698
	Total liabilities at fair value		$	126,741,401		$	7,633,312,038		$	-	$	-	$	7,760,053,439

The following table provides a summary of changes during the current quarter in Level 3 assets and liabilities measured at fair value:

											Total gains		Total gains
			Beginning		Transfers		Transfers out	and (losses)		and (losses)										Ending balance
			balance at			into			of	included in		included in								Settle-			at June 30,
		April 1, 2024		Level 3			Level 3	Net Income		Surplus		Purchases		Issuances			ments			2024
a. Assets
Other invested
assets	$	9,559,108	$	-		$	(5,882,960) (2)	$(725,537)	$(4,385,644)	$ 19,500,000	$	-	$	(345,634)	$	17,719,333
Separate account
assets		594,502,423		980,835	(1)		(25,000,000) (3)	(155,167)		-	408,048,016	59,275,000			(3,757,709)			1,033,893,398
Total assets		$	604,061,531		$980,835		$	(30,882,960)		$(880,704)		$(4,385,644)		$427,548,016		$59,275,000		$	(4,103,343)		$	1,051,612,731

1. Includes bonds transferred to Level 3 as fair value is now based on a single non-binding broker quote.
2. Includes other invested assets transferred out of Level 3 as investments are no longer reported at fair value.
3. Includes bonds transferred out of Level 3 as fair value is now obtained from a third-party pricing source with observable inputs.
The Company recognizes transfers between levels of the fair value hierarchy as of the beginning of the quarter in which each transfer occurred.

ＷＮＳ

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Ameriprise Financial Inc. published this content on 07 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2024 16:16:25 UTC.

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