Brooke Life Insurance Company 2021 annual statutory statement

ANNUAL STATEMENT

OF THE

BROOKE LIFE INSURANCE COMPANY

TO THE

Insurance Department

OF THE

STATE OF

Michigan

FOR THE YEAR ENDED

DECEMBER 31, 2021

[ X ] LIFE, ACCIDENT AND HEALTH

[ ] FRATERNAL BENEFIT SOCIETIES

2021

ANNUAL STATEMENT FOR THE YEAR 2021 OF THE BROOKE LIFE INSURANCE COMPANY

ASSETS

		Current Year		Prior Year
	1	2	3	4
			Net Admitted Assets	Net Admitted
	Assets	Nonadmitted Assets	(Cols. 1 - 2)	Assets
1. Bonds (Schedule D)	314,871,760	0	314,871,760	207,823,034

2. Stocks (Schedule D):

2.1 Preferred stocks	0	0	0	0
2.2 Common stocks	6,098,185,448	0	6,098,185,448	4,780,510,279

3. Mortgage loans on real estate (Schedule B):

3.1	First liens	0	0	0	0
3.2	Other than first liens	0	0	0	0

4. Real estate (Schedule A):

	4.1 Properties occupied by the company (less $		0
	encumbrances)						0	0	0	0
	4.2 Properties held for	the production of income (less
	$			0	encumbrances)			0	0	0	0
	4.3 Properties held for sale (less $	0
	encumbrances)						0	0	0	0
5.	Cash ($		103,563	, Schedule E - Part 1), cash equivalents
	($	8,754,971	, Schedule E - Part 2) and short-term
	investments ($				0 , Schedule DA)		8,858,534	0	8,858,534	31,924,249
6.	Contract loans (including $		0	premium notes)		618,149	0	618,149	681,826
7.	Derivatives (Schedule DB)					0	0	0	0
8.	Other invested assets (Schedule BA)			1,248,895	1,248,895	0	0
9.	Receivables for securities					0	0	0	0
10.	Securities lending reinvested collateral assets (Schedule DL)		0	0	0	0
11.	Aggregate write-ins for invested assets			0	0	0	0
12.	Subtotals, cash and invested assets (Lines 1 to 11)			6,423,782,786	1,248,895	6,422,533,891	5,020,939,388
13.	Title plants less $			0 charged off (for Title insurers
	only)						0	0	0	0
14.	Investment income due and accrued		2,048,464	0	2,048,464	1,760,999

15. Premiums and considerations:

15.1	Uncollected premiums and agents' balances in the course of collection	6,547,000	0	6,547,000	6,951,682
15.2	Deferred premiums and agents' balances and installments booked but
	deferred and not yet due (including $	0
	earned but unbilled premiums)		53,888	0	53,888	52,731
15.3	Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	0 )	0	0	0	0

16. Reinsurance:


	16.1	Amounts recoverable from reinsurers	10,000	0	10,000	35,000
	16.2	Funds held by or deposited with reinsured companies	0	0	0	0
	16.3	Other amounts receivable under reinsurance contracts	0	0	0	0
17.	Amounts receivable relating to uninsured plans	0	0	0	0
18.1	Current federal and foreign income tax recoverable and interest thereon	0	0	0	22,109,911
18.2	Net deferred tax asset		0	0	0	0
19.	Guaranty funds receivable or on deposit	0	0	0	0
20.	Electronic data processing equipment and software	0	0	0	0
21.	Furniture and equipment, including health care delivery assets
	($	0 )	0	0	0	0
22.	Net adjustment in assets and liabilities due to foreign exchange rates	0	0	0	0
23.	Receivables from parent, subsidiaries and affiliates	0	0	0	13,783,628
24.	Health care ($	0 ) and other amounts receivable	0	0	0	0
25.	Aggregate write-ins for other than invested assets	772,977	0	772,977	447,417

26. Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

6,433,215,115

1,248,895

6,431,966,220

5,066,080,756

27. From Separate Accounts, Segregated Accounts and Protected Cell

	Accounts	0	0	0	0
28.	Total (Lines 26 and 27)	6,433,215,115	1,248,895	6,431,966,220	5,066,080,756
	DETAILS OF WRITE-INS
1101.
1102.
1103.
1198.	Summary of remaining write-ins for Line 11 from overflow page	0	0	0	0
1199.	Totals (Lines 1101 thru 1103 plus 1198)(Line 11 above)	0	0	0	0
2501.	Cash held by third party administrator	749,603	0	749,603	437,467
2502.	Other assets	23,374	0	23,374	9,950
2503.
2598.	Summary of remaining write-ins for Line 25 from overflow page	0	0	0	0
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)	772,977	0	772,977	447,417

ANNUAL STATEMENT FOR THE YEAR 2021 OF THE BROOKE LIFE INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current Year	Prior Year
1.	Aggregate reserve for life contracts $	271,943,766 (Exh. 5, Line 9999999) less $	0
	included in Line 6.3 (including $	16,118,503 Modco Reserve)			271,943,766	284,548,312
2.	Aggregate reserve for accident and health contracts (including $	0 Modco Reserve)	0	0
3.	Liability for deposit-type contracts (Exhibit 7, Line 14, Col. 1) (including $	1,345,089	Modco Reserve)	2,450,379	2,632,363

4. Contract claims:


4.1	Life (Exhibit 8, Part 1, Line 4.4, Col. 1 less sum of Cols. 9, 10 and 11)	26,221,680	20,596,281
4.2	Accident and health (Exhibit 8, Part 1, Line 4.4, sum of Cols. 9, 10 and 11)		0	0
5. Policyholders' dividends/refunds to members $	0 and coupons $	0 due
and unpaid (Exhibit 4, Line 10)		0	0

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 $	0
	Modco)			0	0
6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	45 Modco)	9,118	9,397
6.3	Coupons and similar benefits (including $	0 Modco)		0	0
7. Amount provisionally held for deferred dividend policies not included in Line 6		0	0

8. Premiums and annuity considerations for life and accident and health contracts received in advance less

$	0 discount; including $	0 accident and health premiums (Exhibit 1,
Part 1, Col. 1, sum of lines 4 and 14)	922	1,319

9. Contract liabilities not included elsewhere:

	9.1	Surrender values on canceled contracts					0	0
	9.2	Provision for experience rating refunds, including the liability of $	0	accident and health
		experience rating refunds of which $	0	is for medical loss ratio rebate per the Public Health
		Service Act						0	0
	9.3 Other amounts payable on reinsurance, including $	33,453 assumed and $	0
		ceded						33,453	0
	9.4 Interest maintenance reserve (IMR, Line 6)				6,177,946	6,927,208
10.	Commissions to agents due or accrued-life and annuity contracts $	0	accident and health
	$	0 and deposit-type contract funds $	0			0	400
11.	Commissions and expense allowances payable on reinsurance assumed			0	0
12.	General expenses due or accrued (Exhibit 2, Line 12, Col. 7)				23,164	0
13.	Transfers to Separate Accounts due or accrued (net) (including $	0	accrued for expense
	allowances recognized in reserves, net of reinsured allowances)				0	0
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes (Exhibit 3, Line 9, Col. 6)		0	0
15.1 Current federal and foreign income taxes, including $	0 on realized capital gains (losses)		0	0
15.2	Net deferred tax liability						0	0
16.	Unearned investment income						16,276	17,461
17.	Amounts withheld or retained by reporting entity as agent or trustee				25,021	24,588
18.	Amounts held for agents' account, including $	0 agents' credit balances		0	0
19.	Remittances and items not allocated						0	0
20.	Net adjustment in assets and liabilities due to foreign exchange rates				0	0
21.	Liability for benefits for employees and agents if not included above				0	0
22.	Borrowed money $	0	and interest thereon $	0			0	0
23.	Dividends to stockholders declared and unpaid				0	0

24. Miscellaneous liabilities:

	24.01	Asset valuation reserve (AVR, Line 16, Col. 7)			2,395,543	2,060,063
	24.02 Reinsurance in unauthorized and certified ($	0 ) companies		0	0
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	0 ) reinsurers	0	0
	24.04	Payable to parent, subsidiaries and affiliates			122,499	0
	24.05	Drafts outstanding				0	0
	24.06	Liability for amounts held under uninsured plans			0	0
	24.07	Funds held under coinsurance				0	0
	24.08	Derivatives				0	0
	24.09	Payable for securities				0	0
	24.10	Payable for securities lending				0	0
	24.11 Capital notes $	0 and interest thereon $		0	0	0
25.	Aggregate write-ins for liabilities				26,871,802	26,806,236
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)			336,291,569	343,623,628
27.	From Separate Accounts Statement				0	0
28.	Total liabilities (Lines 26 and 27)				336,291,569	343,623,628
29.	Common capital stock				51,500,000	51,500,000
30.	Preferred capital stock				0	0
31.	Aggregate write-ins for other than special surplus funds			0	0
32.	Surplus notes				2,000,000,000	2,000,000,000
33.	Gross paid in and contributed surplus (Page 3, Line 33, Col. 2 plus Page 4, Line 51.1, Col. 1)		2,176,188,014	651,188,014
34.	Aggregate write-ins for special surplus funds			0	0
35.	Unassigned funds (surplus)				1,867,986,637	2,019,769,114

36. Less treasury stock, at cost:

	36.1	0 shares common (value included in Line 29	$	0	)	0	0
	36.2	0 shares preferred (value included in Line 30	$	0	)	0	0
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $		0 in Separate Accounts Statement)	6,044,174,651	4,670,957,128
38.	Totals of Lines 29, 30 and 37 (Page 4, Line 55)				6,095,674,651	4,722,457,128
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				6,431,966,220	5,066,080,756
	DETAILS OF WRITE-INS
2501.	Interest payable on death claims
			383,580	318,014
2502.	Interest payable on surplus note				26,488,222	26,488,222
2503.
2598.	Summary of remaining write-ins for Line 25 from overflow page				0	0
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)				26,871,802	26,806,236
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.
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)				0	0

ANNUAL STATEMENT FOR THE YEAR 2021 OF THE BROOKE LIFE INSURANCE COMPANY

SUMMARY OF OPERATIONS

1	2
Current Year	Prior Year

1. Premiums and annuity considerations for life and accident and health contracts (Exhibit 1, Part 1, Line 20.4, Col. 1, less

	Col. 11)	30,459,458	33,199,277
2.	Considerations for supplementary contracts with life contingencies	0	0
3.	Net investment income (Exhibit of Net Investment Income, Line 17)	(82,878,532)	(81,431,518)
4.	Amortization of Interest Maintenance Reserve (IMR, Line 5)	1,137,751	914,632
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	0	0
6.	Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col. 1)	87,292	94,696
7.	Reserve adjustments on reinsurance ceded	(513,973)	(793,604)

8. Miscellaneous Income:

	8.1 Income from fees associated with investment management, administration and contract guarantees from Separate
	Accounts	0	0
	8.2 Charges and fees for deposit-type contracts	2,305	20,644
	8.3 Aggregate write-ins for miscellaneous income	0	0
9.	Total (Lines 1 to 8.3)	(51,705,699)	(47,995,873)
10.	Death benefits	31,846,554	40,015,679
11.	Matured endowments (excluding guaranteed annual pure endowments)	0	0
12.	Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 8)	9,352,418	10,998,475
13.	Disability benefits and benefits under accident and health contracts	0	0
14.	Coupons, guaranteed annual pure endowments and similar benefits	0	0
15.	Surrender benefits and withdrawals for life contracts	13,514,474	12,011,887
16.	Group conversions	0	0
17.	Interest and adjustments on contract or deposit-type contract funds	106,559	(93,960)
18.	Payments on supplementary contracts with life contingencies	0	0
19.	Increase in aggregate reserves for life and accident and health contracts	(12,604,546)	(2,820,203)
20.	Totals (Lines 10 to 19)	42,215,459	60,111,878

21. Commissions on premiums, annuity considerations, and deposit-type contract funds (direct business only) (Exhibit 1, Part

	2, Line 31, Col. 1)	192,086	162,849
22.	Commissions and expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1)	1,631	1,775
23.	General insurance expenses and fraternal expenses (Exhibit 2, Line 10, Cols. 1, 2, 3, 4 and 6)	435,524	478,452
24.	Insurance taxes, licenses and fees, excluding federal income taxes (Exhibit 3, Line 7, Cols. 1 + 2 + 3 + 5)	2,982	3,403
25.	Increase in loading on deferred and uncollected premiums	(991)	(442)
26.	Net transfers to or (from) Separate Accounts net of reinsurance	0	0
27.	Aggregate write-ins for deductions	0	0
28.	Totals (Lines 20 to 27)	42,846,691	60,757,915
29.	Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus
	Line 28)	(94,552,390)	(108,753,788)
30.	Dividends to policyholders and refunds to members	9,028	9,727

31. Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29

minus Line 30)	(94,561,418)	(108,763,515)
32. Federal and foreign income taxes incurred (excluding tax on capital gains)	(439,252)	(23,692,875)

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)			(94,122,166)	(85,070,640)
34.	Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains tax of
	$	0 (excluding taxes of $	488,543	transferred to the IMR)	0	26
35.	Net income (Line 33 plus Line 34)			(94,122,166)	(85,070,614)
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year (Page 3, Line 38, Col. 2)		4,722,457,128	4,760,494,896
37.	Net income (Line 35)				(94,122,166)	(85,070,614)
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	0	(57,362,320)	(478,960,831)
39.	Change in net unrealized foreign exchange capital gain (loss)			0	0
40.	Change in net deferred income tax			0	(324,615)
41.	Change in nonadmitted assets			37,489	(106,627)
42.	Change in liability for reinsurance in unauthorized and certified companies		0	0
43.	Change in reserve on account of change in valuation basis, (increase) or decrease	0	0
44.	Change in asset valuation reserve			(335,480)	424,919
45.	Change in treasury stock (Page 3, Lines 36.1 and 36.2, Col. 2 minus Col. 1)	0	0
46.	Surplus (contributed to) withdrawn from Separate Accounts during period		0	0
47.	Other changes in surplus in Separate Accounts Statement			0	0
48.	Change in surplus notes			0	0
49.	Cumulative effect of changes in accounting principles			0	0

50. Capital changes:

50.1	Paid in	0	0
50.2	Transferred from surplus (Stock Dividend)	0	0
50.3	Transferred to surplus	0	0

51. Surplus adjustment:

	51.1 Paid in	1,525,000,000	526,000,000
	51.2 Transferred to capital (Stock Dividend)	0	0
	51.3 Transferred from capital	0	0
	51.4 Change in surplus as a result of reinsurance	0	0
52.	Dividends to stockholders	0	0
53.	Aggregate write-ins for gains and losses in surplus	0	0
54.	Net change in capital and surplus for the year (Lines 37 through 53)	1,373,217,523	(38,037,768)
55.	Capital and surplus, December 31, current year (Lines 36 + 54) (Page 3, Line 38)	6,095,674,651	4,722,457,128
	DETAILS OF WRITE-INS
08.301.
08.302.
08.303.
08.398. Summary of remaining write-ins for Line 8.3 from overflow page	0	0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398)(Line 8.3 above)	0	0
2701.
2702.
2703.
2798.	Summary of remaining write-ins for Line 27 from overflow page	0	0
2799.	Totals (Lines 2701 thru 2703 plus 2798)(Line 27 above)	0	0
5301.
5302.
5303.
5398.	Summary of remaining write-ins for Line 53 from overflow page	0	0
5399.	Totals (Lines 5301 thru 5303 plus 5398)(Line 53 above)	0	0

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Jackson Financial Inc. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 15:56:59 UTC.

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