Brooke Life Insurance Company 2Q 2023 statutory statement

QUARTERLY STATEMENT

OF THE

BROOKE LIFE INSURANCE COMPANY

TO THE

Insurance Department

OF THE

STATE OF

Michigan

FOR THE QUARTER ENDED

JUNE 30, 2023

[ X ] LIFE, ACCIDENT AND HEALTH

[ ] FRATERNAL BENEFIT SOCIETIES

2023

.MI

STATEMENT AS OF JUNE 30, 2023 OF THE BROOKE 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	................236,234,617	................................. 0	................	236,234,617	................258,105,935

2. Stocks:

	2.1 Preferred stocks		0	0	0	0
	2.2 Common stocks		3,307,908,061	0	3,307,908,061	5,987,417,659
3.	Mortgage loans on real estate:
	3.1 First liens	..................................................................................................		0	0	0	0
	3.2 Other than first liens		0	0	0	0
4.	Real estate:
	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 ($	(1,096,894) ), cash equivalents
	($	37,157,054	) and short-term
	investments ($	0 )	................. 36,060,160	................................. 0	................. 36,060,160	................... 1,126,923
6.	Contract loans (including $	................................. 0	premium notes)	.......................617,392	................................. 0	.......................617,392	...................... 604,124
7.	Derivatives			................................. 0	................................. 0	................................. 0	................................. 0
8.	Other invested assets		................. 24,765,878	................... 1,164,462	................. 23,601,416	................. 24,648,615
9.	Receivables for securities		.......................... 4,313	................................. 0	.......................... 4,313	................................. 0
10.	..............................................Securities lending reinvested collateral assets	................................. 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)	............ 3,605,590,421	................... 1,164,462	............ 3,604,425,959	............ 6,271,903,256
13.	Title plants less $	0 charged off (for Title insurers
	only)			................................. 0	................................. 0	................................. 0	................................. 0
14.	.............................................................Investment income due and accrued	................... 1,800,728	................................. 0	................... 1,800,728	................... 1,830,888
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	................... 4,316,846	................................. 0	................... 4,316,846	................... 5,014,641
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	0
	............................................................earned but unbilled premiums)	........................ 56,885	................................. 0	........................ 56,885	........................ 64,884
	15.3 Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	0 )	................................. 0	0	0	0

16. Reinsurance:

	16.1 Amounts recoverable from reinsurers	77,577	0	77,577	10,000
	..........................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 ....	.......................565,307	................................. 0	.......................565,307	.......................565,307
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	................................. 0
24.	Health care ($	0 ) and other amounts receivable	................................. 0	................................. 0	................................. 0	................................. 0
25.	........................................Aggregate write-ins for other than invested assets	...................... 385,201	............................. 237	...................... 384,964	................... 1,023,713
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	............ 3,612,792,965	................... 1,164,699	............ 3,611,628,266	............ 6,280,412,689
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	................................. 0	................................. 0	................................. 0	................................. 0
28.	Total (Lines 26 and 27)		3,612,792,965	1,164,699	3,611,628,266	6,280,412,689
	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 through 1103 plus 1198)(Line 11 above)	0	0	0	0
2501.	Cash held by third party administrator	...................... 384,964	................................. 0	...................... 384,964	................... 1,023,713
2502.	Agents' balances	............................. 237	............................. 237	................................. 0	................................. 0
2503.	.......................................................................................................................	....................................	....................................	....................................	....................................
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	................................. 0	................................. 0	................................. 0	................................. 0
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	385,201	237	384,964	1,023,713

STATEMENT AS OF JUNE 30, 2023 OF THE BROOKE LIFE INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

									1	2
									Current	December 31
									Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	................238,813,890	less $	0 included in Line 6.3
	.................(including $	15,132,320	Modco Reserve)				................238,813,890	................264,496,366
2.	Aggregate reserve for accident and health contracts (including $	0	Modco Reserve)	................................. 0	................................. 0
3.	Liability for deposit-type contracts (including $	1,300,155	Modco Reserve)		................... 2,965,112	................... 2,646,591
4.	Contract claims:
	4.1 Life						................... 7,242,310	................. 14,837,549
	4.2 Accident and health						................................. 0	................................. 0
5.	Policyholders' dividends/refunds to members $	0	and coupons $	0	due
	................................................................................................................................................................................and unpaid						................................. 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 $	0	Modco) ....	.......................... 8,795	.......................... 8,719
	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	.......................... 1,919	............................. 797
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 $		.................................135,257 assumed and $	0
		ceded						.......................135,257	...................... 145,638
	9.4 Interest Maintenance Reserve					...................... 681,608	................... 2,303,817
10.	Commissions to agents due or accrued-life and annuity contracts $		.................................	0 , accident and health
	$	................................. 0	and deposit-type contract funds $	.................................	0			................................. 0	................................. 0
			..................................................
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed		................................. 0	................................. 0
12.	............................................................................................................................................General expenses due or accrued					........................ 26,798	........................ 13,705
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		................................. 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					........................ 19,778	........................ 16,381
17.	Amounts withheld or retained by reporting entity as agent or trustee				........................ 24,912	........................ 50,344
18.	Amounts held for agents' account, including $	0	agents' credit balances	................................. 0	................................. 0
19.	........................................................................................................................................Remittances and items not allocated					........................ 44,184	.......................... 1,146
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					................... 3,615,118	................... 3,527,821
	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					........................ 69,343	...................... 181,498
	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					26,706,282	26,929,006
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)	.....................................................................................		280,355,306	315,159,378
27.	From Separate Accounts Statement					0	0
28.	Total liabilities (Lines 26 and 27)					280,355,306	315,159,378
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					............ 2,026,188,014	............ 2,176,188,014
34.	...........................................................................................................................Aggregate write-ins for special surplus funds					................................. 0	................................. 0
35.	Unassigned funds (surplus)					(746,415,054)	1,737,565,297

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)	3,279,772,960	5,913,753,311
38.	Totals of Lines 29, 30 and 37	...................................................................................................................................................			3,331,272,960	5,965,253,311
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				3,611,628,266	6,280,412,689
	DETAILS OF WRITE-INS
2501.	..........................................................................................................................................Interest payable on death claims			...................... 214,684	...................... 432,881
2502.	..........................................................................................................................................Interest payable on surplus note			................. 26,488,222	................. 26,488,222
2503.	.............................................................................................................................Investment escrow & unallocated proceeds			................................. 1	.......................... 7,903
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			.......................... 3,375	................................. 0
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)				26,706,282	26,929,006
3101	....................................	....................................
3102	....................................	....................................
3103	....................................	....................................
3198.	..............................................................................................Summary of remaining write-ins for Line 31 from overflow page			................................. 0	................................. 0
3199.	Totals (Lines 3101 through 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 through 3403 plus 3498)(Line 34 above)	0	0

STATEMENT AS OF JUNE 30, 2023 OF THE BROOKE 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	................... 9,032,453	................. 13,841,756	................. 23,990,209
2.	Considerations for supplementary contracts with life contingencies	................................. 0	................................. 0	................................. 0
3.	Net investment income	................408,953,912	................(40,789,371)	................(82,099,572)
4.	Amortization of Interest Maintenance Reserve (IMR)	...................... 122,247	...................... 422,872	.......................743,889
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	................................. 0	................................. 0	................................. 0
6.	Commissions and expense allowances on reinsurance ceded	........................ 39,054	........................ 41,991	........................ 82,471
7.	Reserve adjustments on reinsurance ceded	..................... (373,279)	.....................(381,140)	.....................(712,458)
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	................................. 0	................................. 0	................................. 0
	8.2 Charges and fees for deposit-type contracts	........................ 20,377	................................. 0	........................ 22,034
	8.3 Aggregate write-ins for miscellaneous income	0	0	0
9.	Totals (Lines 1 to 8.3)	417,794,764	(26,863,892)	(57,973,427)
10.	Death benefits	................. 10,286,918	................. 25,503,926	................. 28,638,291
11.	Matured endowments (excluding guaranteed annual pure endowments)	................................. 0	................................. 0	................................. 0
12.	Annuity benefits	................... 3,938,180	................... 4,615,352	................... 8,370,145
13.	Disability benefits and benefits under accident and health contracts	................................. 0	................................. 0	................................. 0
14.	Coupons, guaranteed annual pure endowments and similar benefits	................................. 0	................................. 0	................................. 0
15.	Surrender benefits and withdrawals for life contracts	................. 24,032,481	................... 5,927,534	................. 20,711,740
16.	Group conversions	................................. 0	................................. 0	................................. 0
17.	Interest and adjustments on contract or deposit-type contract funds	.....................(185,995)	...................... 261,248	........................ 96,348
18.	Payments on supplementary contracts with life contingencies	................................. 0	................................. 0	................................. 0
19.	Increase in aggregate reserves for life and accident and health contracts	(25,682,476)	(6,240,124)	(7,447,399)
20.	Totals (Lines 10 to 19)	................. 12,389,108	................. 30,067,936	................. 50,369,125
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	........................ 11,039	........................ 56,300	........................ 82,002
22.	Commissions and expense allowances on reinsurance assumed	............................. 487	............................. 664	.......................... 1,496
23.	General insurance expenses and fraternal expenses	.......................308,701	...................... 221,945	.......................713,695
24.	Insurance taxes, licenses and fees, excluding federal income taxes	.......................... 2,465	.......................... 2,559	.......................... 2,809
25.	Increase in loading on deferred and uncollected premiums	............................(817)	............................(112)	............................. 495
26.	Net transfers to or (from) Separate Accounts net of reinsurance	................................. 0	................................. 0	................................. 0
27.	Aggregate write-ins for deductions	0	0	0
28.	Totals (Lines 20 to 27)	12,710,983	30,349,292	51,169,622
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	405,083,781	(57,213,184)	(109,143,049)
30.	Dividends to policyholders and refunds to members	5,171	4,650	8,451
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	405,078,610	(57,217,834)	(109,151,500)
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	84,491	(36,882)	(40,191)

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)	.....................................	404,994,119	(57,180,952)	(109,111,309)
34.	Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital
	gains tax of $	285,483 (excluding taxes of $	(369,974)
	transferred to the IMR)		(285,483)	0	(125,505)
35.	Net income (Line 33 plus Line 34)	404,708,636	(57,180,952)	(109,236,814)
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	5,965,253,311	6,095,674,651	6,095,674,651
37.	Net income (Line 35)		404,708,636	................(57,180,952)	.............. (109,236,814)
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	................... 190,710	.......... (2,528,779,498)	............ 2,219,769,257	................489,700,389
39.	Change in net unrealized foreign exchange capital gain (loss)	................................. 0	................................. 0	................................. 0
40.	......................................................................................................Change in net deferred income tax	...................... 190,710	.......................271,477	...................... 150,264
41.	Change in nonadmitted assets	...................... (12,902)	........................ 74,679	........................ 97,098
42.	Change in liability for reinsurance in unauthorized and certified companies	................................. 0	................................. 0	................................. 0
43.	Change in reserve on account of change in valuation basis, (increase) or decrease	................................. 0	................................. 0	................................. 0
44.	.......................................................................................................Change in asset valuation reserve	.......................(87,297)	.....................(580,048)	................. (1,132,278)
45.	Change in treasury stock		................................. 0	................................. 0	................................. 0
46.	Surplus (contributed to) withdrawn from Separate Accounts during period	................................. 0	................................. 0	................................. 0
47.	Other changes in surplus in Separate Accounts Statement	................................. 0	................................. 0	................................. 0
48.	Change in surplus notes		................................. 0	................................. 0	................................. 0
49.	........................................................................Cumulative effect of changes in accounting principles	................................. 0	................................. 0	................................. 0
50.	Capital changes:
	50.1 Paid in		................................. 0	................................. 0	................................. 0
	50.2 Transferred from surplus (Stock Dividend)	................................. 0	................................. 0	................................. 0
	50.3 Transferred to surplus		................................. 0	................................. 0	................................. 0
51.	Surplus adjustment:
	51.1 Paid in		..............(150,000,000)	................................. 0	................................. 0
	51.2 Transferred to capital (Stock Dividend)	................................. 0	................................. 0	................................. 0
	51.3 Transferred from capital		................................. 0	................................. 0	................................. 0
	...............................................................................51.4 Change in surplus as a result of reinsurance	................................. 0	................................. 0	................................. 0
52.	Dividends to stockholders		.............. (360,000,000)	..............(510,000,000)	..............(510,000,000)
53.	Aggregate write-ins for gains and losses in surplus	0	0	0
54.	Net change in capital and surplus for the year (Lines 37 through 53)	(2,633,980,351)	1,652,354,413	(130,421,340)
55.	Capital and surplus, as of statement date (Lines 36 + 54)		3,331,272,960	7,748,029,064	5,965,253,311
	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	................................. 0
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)		0	0	0
2701	....................................	....................................	....................................

2702	....................................	....................................	....................................
2703	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	................................. 0	................................. 0	................................. 0
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)	0	0	0
5301	....................................	....................................	....................................

5302
5303
5398.	Summary of remaining write-ins for Line 53 from overflow page	0	................................. 0	................................. 0
5399.	Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)	0	0	0

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Jackson Financial Inc. published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 20:18:45 UTC.

Brooke Life Insurance Company 2Q 2023 statutory statement

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