Equitable Financial Life and Annuity Company - Annual Statement 2023 - Insurance News

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY 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)	................289,093,330	.................................0	................289,093,330	................315,710,926
2.	Stocks (Schedule D):
	2.1 Preferred stocks	0	0	0	0
	2.2 Common stocks	0	0	0	0

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 ($	(328,480) , Schedule E - Part 1), cash equivalents
	($	34,863,725	, Schedule E - Part 2) and short-term
	investments ($	0 , Schedule DA)	................. 34,535,245	.................................0	................. 34,535,245	................. 14,710,364
6.	Contract loans (including $	.................................0	premium notes)	............... 215,064,641	.......................135,673	............... 214,928,968	............... 226,441,159
7.	Derivatives (Schedule DB)		.................................0	.................................0	.................................0	.................................0
8.	Other invested assets (Schedule BA)	.................................0	.................................0	.................................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)	................538,693,216	.......................135,673	................538,557,543	............... 556,862,449
13.	Title plants less $	0 charged off (for Title insurers
	only)				.................................0	.................................0	.................................0	.................................0
14.	Investment income due and accrued	...................4,121,991	.................................0	...................4,121,991	................... 4,118,597

15. Premiums and considerations:

15.1	Uncollected premiums and agents' balances in the course of collection	(2,740,281)	0	(2,740,281)	(3,371,203)
15.2	Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	.................................0
	earned but unbilled premiums)	583,029	.................................0	...................... 583,029	...................... 608,131
15.3	Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	.................................0 )	.................................0	0	0	0

16. Reinsurance:


	16.1	....................................................Amounts recoverable from reinsurers	................. 15,276,132	.................................0	................. 15,276,132	...................... 791,445
	16.2	..........................Funds held by or deposited with reinsured companies	.................................0	.................................0	.................................0	.................................0
	16.3	........................Other amounts receivable under reinsurance contracts	.......................316,873	.................................0	.......................316,873	...................... 205,460
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	.................................0
18.2	Net deferred tax asset	...................................................................................	................. 10,064,148	................... 9,168,457	...................... 895,691	................... 1,094,368
19.	......................................................Guaranty funds receivable or on deposit	...................... 227,155	.................................0	...................... 227,155	...................... 218,416
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	...................... 182,853	.................................0	...................... 182,853	........................ 16,516
24.	Health care ($	0 ) and other amounts receivable	0	0	0	0
25.	Aggregate write-ins for other than invested assets	3,085,412	264,874	2,820,538	0

26. Total assets excluding Separate Accounts, Segregated Accounts and

	Protected Cell Accounts (Lines 12 to 25)	569,810,528	9,569,004	560,241,524	560,544,179
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	0	0	0	0
28.	Total (Lines 26 and 27)	569,810,528	9,569,004	560,241,524	560,544,179
	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.	Admitted Disallowed IMR	2,820,538	.................................0	................... 2,820,538	.................................0
2502.	Other AssetsNon-Admitted	...................... 264,874	...................... 264,874	.................................0	.................................0
2503.	.....................................................................................................................	.................................0	.................................0	.................................0	.................................0
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)	3,085,412	264,874	2,820,538	0

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current Year	Prior Year
1.	Aggregate reserve for life contracts $	372,192,082 (Exh. 5, Line 9999999) less $	0
	included in Line 6.3 (including $	0 Modco Reserve)	..........................................................................	372,192,082	418,970,712
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 $	.................................0	Modco Reserve)	.................................0	0

4. Contract claims:


4.1	Life (Exhibit 8, Part 1, Line 4.4, Col. 1 less Col. 6)	................... 7,293,074	3,677,738
4.2	Accident and health (Exhibit 8, Part 1, Line 4.4, Col. 6)	.................................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 $	0 Modco)	0	0
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)	...................... 129,001	22,248

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 $		0 assumed and $	0
		ceded						0	0
	9.4 Interest maintenance reserve (IMR, Line 6)					0	0
10.	Commissions to agents due or accrued-life and annuity contracts $	.................................	0	accident and health
	$	.................................0	and deposit-type contract funds $	.................................	0		0	1,075,953
11.	Commissions and expense allowances payable on reinsurance assumed			0	0
12.	General expenses due or accrued (Exhibit 2, Line 12, Col. 7)					0	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)	1,832,544	1,766,208
15.1	Current federal and foreign income taxes, including $		0 on realized capital gains (losses)	182,167	182,167
15.2	Net deferred tax liability						0	0
16.	Unearned investment income					5,265,690	5,583,536
17.	Amounts withheld or retained by reporting entity as agent or trustee				0	0
18.	Amounts held for agents' account, including $	.........................................0 agents' credit balances		0	.................................0
19.	........................................................................................................................................Remittances and items not allocated						........................ 48,550	.................................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)
						1,562,672	1,241,609
	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						................. 25,934,262	................. 31,204,743
	...........................................................................................................................................................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						540,091	38,294
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)	.....................................................................................				414,980,133	463,763,208
27.	.........................................................................................................................................From Separate Accounts Statement						.................................0	.................................0
28.	Total liabilities (Lines 26 and 27)						414,980,133	463,763,208
29.	...............................................................................................................................................................Common capital stock							...................2,500,000	...................2,500,000
30.	...............................................................................................................................................................Preferred capital stock							.................................0	.................................0
31.	...........................................................................................................Aggregate write-ins for other than special surplus funds						.................................0	.................................0
32.	Surplus notes
						0	0
33.	Gross paid in and contributed surplus (Page 3, Line 33, Col. 2 plus Page 4, Line 51.1, Col. 1)	...............................................		181,346,501	181,346,501
34.	Aggregate write-ins for special surplus funds						2,820,538	0
35.	Unassigned funds (surplus)	.......................................................................................................................................................						................(41,405,648)	................(87,065,530)
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)	142,761,391	94,280,971
38.	......................................................................................................................Totals of Lines 29, 30 and 37 (Page 4, Line 55)						145,261,391	96,780,971
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)							560,241,524	560,544,179
	DETAILS OF WRITE-INS
2501.	Miscellaneous liabilities
.......................................................................................................................................................						...................... 540,091	........................ 38,294
2502		....................................

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)	540,091	38,294
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.	Admitted Disallowed IMR	2,820,538	0

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)	2,820,538	0

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY 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. 8)	.....................(933,767)	.....................(154,562)
2.	Considerations for supplementary contracts with life contingencies	.................................0	.................................0
3.	Net investment income (Exhibit of Net Investment Income, Line 17)	................. 23,141,355	................. 12,556,997
4.	Amortization of Interest Maintenance Reserve (IMR, Line 5)	.....................(576,143)	.....................(271,151)
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)	................... 2,478,453	................... 2,523,203
7.	Reserve adjustments on reinsurance ceded	.................................0	.................................0

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	0	.................................0
	8.3 Aggregate write-ins for miscellaneous income	33	0

9.	Total (Lines 1 to 8.3)	24,109,931	14,654,487
10.	Death benefits	................. 19,546,340	................. 19,880,738
11.	Matured endowments (excluding guaranteed annual pure endowments)	.................................0	.................................0
12.	Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 5 minus Analysis of Operations Summary, Line 18, Col. 1)	.................................0	.................................0
13.	Disability benefits and benefits under accident and health contracts	........................ 99,570	........................ 96,025
14.	Coupons, guaranteed annual pure endowments and similar benefits	.................................0	.................................0
15.	Surrender benefits and withdrawals for life contracts	................... 2,310,300	................... 3,276,946
16.	Group conversions	.................................0	.................................0
17.	Interest and adjustments on contract or deposit-type contract funds	.......................473,265	...................... 396,559
18.	Payments on supplementary contracts with life contingencies	.................................0	.................................0
19.	Increase in aggregate reserves for life and accident and health contracts	(46,778,629)	(47,038,169)
20.	Totals (Lines 10 to 19)	(24,349,154)	................(23,387,901)

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

	2, Line 31, Col. 1)	................... 1,634,374	................... 1,927,840
22.	Commissions and expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1)	.................................0	.................................0
23.	General insurance expenses and fraternal expenses (Exhibit 2, Line 10, Cols. 1, 2, 3, 4 and 6)	........................ 21,491	...................... 181,474
24.	Insurance taxes, licenses and fees, excluding federal income taxes (Exhibit 3, Line 7, Cols. 1 + 2 + 3 + 5)	...................... 140,252	........................ (5,539)
25.	Increase in loading on deferred and uncollected premiums	.......................(38,704)	...................... (29,044)
26.	Net transfers to or (from) Separate Accounts net of reinsurance	.................................0	.................................0
27.	Aggregate write-ins for deductions	16,329	199,090
28.	Totals (Lines 20 to 27)	(22,575,412)	(21,114,080)

29. Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus

	Line 28)	................. 46,685,343	35,768,567
30.	Dividends to policyholders and refunds to members	0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29
	minus Line 30)	................. 46,685,343	35,768,567
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	0	0

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)		46,685,343	35,768,567
34.	Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains tax of
	$	569,330 (excluding taxes of $	......................................(569,330) transferred to the IMR)	(569,330)	(279,396)
35.	Net income (Line 33 plus Line 34)		46,116,013	................. 35,489,171
		CAPITAL AND SURPLUS ACCOUNT
36.	...................................................................................Capital and surplus, December 31, prior year (Page 3, Line 38, Col. 2)	96,780,971	54,600,941
37.	Net income (Line 35)		46,116,013	................. 35,489,171
38.	..............................Change in net unrealized capital gains (losses) less capital gains tax of $	0	.................................0	.................................0
39.	Change in net unrealized foreign exchange capital gain (loss)		.................................0	.................................0
40.	...........................................................................................................................................Change in net deferred income tax		................. (9,961,253)	................. (8,690,945)
41.	..................................................................................................................................................Change in nonadmitted assets		................. 12,646,723	...................6,800,182
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		.....................(321,063)	.....................(431,723)
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	.................................0	.................................0
	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	9,013,345
54.	Net change in capital and surplus for the year (Lines 37 through 53)	48,480,420	42,180,030
55.	Capital and surplus, December 31, current year (Lines 36 + 54) (Page 3, Line 38)	145,261,391	96,780,971
	DETAILS OF WRITE-INS
08.301. Sundry receipts and adjustments	33	.................................0
08.302.	...................................................................................................................................................................................................................................	0	.................................0
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)	33	0
2701.	Sundry disbursements and adjustments	16,329	...................... 199,090

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)	16,329	199,090
5301.	Prior Year Corrections	.................................0	................... 9,013,345
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	9,013,345

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

CASH FLOW

			1	2
			Current Year	Prior Year
	Cash from Operations
1.	Premiums collected net of reinsurance	................. (1,394,130)	.....................(145,641)
2.	Net investment income	................. 22,298,057	................. 13,605,133
3.	Miscellaneous income	2,478,486	2,523,203
4.	Total (Lines 1 through 3)	23,382,413	15,982,695
5.	Benefit and loss related payments	................. 33,410,240	................. 49,623,996
6.	.......................................................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	.................................0	.................................0
7.	Commissions, expenses paid and aggregate write-ins for deductions	................... 2,830,802	...................1,161,168
8.	Dividends paid to policyholders	.................................0	.................................0
9.	Federal and foreign income taxes paid (recovered) net of $	0 tax on capital gains (losses)	0	0
10.	Total (Lines 5 through 9)	36,241,042	50,785,164
11.	Net cash from operations (Line 4 minus Line 10)	(12,858,629)	(34,802,469)

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	................. 42,453,503	................. 28,741,000
	12.2	Stocks	.................................0	.................................0
	12.3	Mortgage loans	.................................0	.................................0
	12.4	Real estate	.................................0	.................................0
	12.5	Other invested assets	.................................0	.................................0
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	.................................0	.................................0
	12.7	Miscellaneous proceeds	0	0
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	................. 42,453,503	................. 28,741,000
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	................. 18,024,945	................. 99,214,721
	13.2	Stocks	.................................0	.................................0
	13.3	Mortgage loans	.................................0	.................................0
	13.4	Real estate	.................................0	.................................0
	13.5	Other invested assets	.................................0	.................................0
	13.6	Miscellaneous applications	0	0
	13.7	Total investments acquired (Lines 13.1 to 13.6)	18,024,945	99,214,721
14.	Net increase/(decrease) in contract loans and premium notes	(11,547,416)	(17,384,428)
15.	Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)	35,975,974	(53,089,293)
		Cash from Financing and Miscellaneous Sources
16.	Cash provided (applied):
	16.1	Surplus notes, capital notes	.................................0	.................................0
	................................................................................................................16.2 Capital and paid in surplus, less treasury stock	.................................0	................. 50,000,000
	.................................................................................................................................................................16.3 Borrowed funds	.................................0	.................................0
	..............................................................................16.4 Net deposits on deposit-type contracts and other insurance liabilities	.................................0	.................................0

	.................................................................................................................................................16.5 Dividends to stockholders	.................................0	.................................0
	...........................................................................................................................................16.6 Other cash provided (applied)	(3,292,464)	3,302,376
17.	Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)	(3,292,464)	53,302,376
		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)	19,824,881	(34,589,386)
19.	Cash, cash equivalents and short-term investments:
	...............................................................................................................................................................19.1 Beginning of year	................. 14,710,364	................. 49,299,750
	19.2 End of year (Line 18 plus Line 19.1)	34,535,245	14,710,364

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

20.0001. Non-CashTransactions for Bonds acquired/proceeds	................... 5,998,575	................... 1,734,994

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - SUMMARY

		1	2	3	4	5	6	7		8		9
										Other Lines of		YRT Mortality
		Total	Individual Life	Group Life	Individual Annuities	Group Annuities	Accident and Health	Fraternal		Business		Risk Only
1.	Premiums and annuity considerations for life and accident and health contracts	(933,767)	(933,767)	0	0	0	0	.................................	0	.................................	0	0
2.	Considerations for supplementary contracts with life contingencies	................................. 0	...............XXX	...............XXX	................................. 0	................................. 0	...............XXX	...............XXX	.................................	0	...............XXX
3.	Net investment income	...................23,141,355	...................23,141,355	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	.................................	0	................................. 0
4.	Amortization of Interest Maintenance Reserve (IMR)	......................(576,143)	......................(576,143)	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	.................................	0	................................. 0
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
6.	Commissions and expense allowances on reinsurance ceded	....................2,478,453	....................2,478,453	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
7.	Reserve adjustments on reinsurance ceded	0	0	0	0	0	0	...............XXX	.................................	0	0

8. Miscellaneous Income:

	8.1 Income from fees associated with investment management, administration and
	contract guarantees from Separate Accounts	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	...............XXX	................................. 0	................................. 0
	8.2 Charges and fees for deposit-type contracts	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	...............XXX	................................. 0	................................. 0
	8.3 Aggregate write-ins for miscellaneous income	33	33	0	0	0		0		0	0	0
9.	Totals (Lines 1 to 8.3)	24,109,931	24,109,931	0	0	0		0		0	0	0
10.	Death benefits	...................19,546,340	...................19,546,340	................................. 0	0	0	...............XXX	...............XXX	0	0
11.	Matured endowments (excluding guaranteed annual pure endowments)	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	...............XXX	................................. 0	................................. 0
12.	Annuity benefits	................................. 0	...............XXX	...............XXX	................................. 0	................................. 0	...............XXX	...............XXX	................................. 0	...............XXX
13.	Disability benefits and benefits under accident and health contracts	......................... 99,570	......................... 99,570	................................. 0	................................. 0	................................. 0	.................................	0	...............XXX	................................. 0	................................. 0
14.	Coupons, guaranteed annual pure endowments and similar benefits	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	...............XXX	................................. 0	................................. 0
15.	Surrender benefits and withdrawals for life contracts	2,310,300	.................... 2,310,300	................................. 0	0	0	...............XXX	...............XXX	0	0
16.	Group conversions	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	...............XXX	................................. 0	................................. 0
17.	Interest and adjustments on contract or deposit-type contract funds	....................... 473,265	....................... 473,265	................................. 0	................................. 0	................................. 0	.................................	0	...............XXX	................................. 0	................................. 0
18.	Payments on supplementary contracts with life contingencies	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	...............XXX	................................. 0	................................. 0
19.	Increase in aggregate reserves for life and accident and health contracts	(46,778,629)	(46,778,629)	0	0	0		0	XXX		0	0
20.	Totals (Lines 10 to 19)	(24,349,154)	(24,349,154)	0	0	0	.................................	0	...............XXX	0	0

21. Commissions on premiums, annuity considerations and deposit-type contract funds

	(direct business only)	1,634,374	1,634,374	0	0	0	0	.................................	0	0	...............XXX
22.	Commissions and expense allowances on reinsurance assumed	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	................................. 0	................................. 0
23.	General insurance expenses and fraternal expenses	21,491	......................... 21,491	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	................................. 0	................................. 0
24.	Insurance taxes, licenses and fees, excluding federal income taxes	....................... 140,252	....................... 140,252	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	................................. 0	................................. 0
25.	Increase in loading on deferred and uncollected premiums	....................... (38,704)	....................... (38,704)	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	................................. 0	................................. 0
26.	Net transfers to or (from) Separate Accounts net of reinsurance	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	................................. 0	................................. 0
27.	Aggregate write-ins for deductions	16,329	16,329	0	0	0	0		0	0	0
28.	Totals (Lines 20 to 27)	(22,575,412)	(22,575,412)	0	0	0	0		0	0	0
29.	Net gain from operations before dividends to policyholders, refunds to members and
	federal income taxes (Line 9 minus Line 28)	46,685,343	46,685,343	0	0	0	0	.................................	0	0	0
30.	Dividends to policyholders and refunds to members	0	0	0	0	0	0	XXX		0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and
	before federal income taxes (Line 29 minus Line 30)	46,685,343	46,685,343	0	0	0	0	.................................	0	0	0
32.	Federal income taxes incurred (excluding tax on capital gains)	0	0	0	0	0	0		0	0	0
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)	46,685,343	46,685,343	0	0	0	0		0	0	0
34.	Policies/certificates in force end of year	2,500	2,500	0	0	0	0	XXX		0	0
	DETAILS OF WRITE-INS
............................................................................08.301. Sundry receipts and adjustments	............................... 33	............................... 33	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	................................. 0	................................. 0
.08.302	................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
.08.303	................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
08.398. Summary of remaining write-ins for Line 8.3 from overflow page	................................. 0	0	0	0	0	0	.................................	0	0	0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	33	33	0	0	0	0		0	0	0
2701.	Sundry disbursements and adjustments	16,329	16,329	0	0	0	0	.................................	0	0	0
2702	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2703	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	................................. 0	................................. 0
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	16,329	16,329	0	0	0	0		0	0	0

6.1

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - INDIVIDUAL LIFE INSURANCE (b)

		1	2	3	4	5	6	7	8		9		10		11	12
								Universal Life
								With Secondary			Variable		Credit Life		Other Individual	YRT Mortality
		Total	Industrial Life	Whole Life	Term Life	Indexed Life	Universal Life	Guarantees	Variable Life		Universal Life		(c)		Life	Risk Only
1.	Premiums for life contracts(a)	............... (933,767)	..........................0	0	..............1,334,563	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	.............(2,268,330)	..........................0
2.	Considerations for supplementary contracts with life contingencies	...........XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX
3.	Net investment income	............ 23,141,355	..........................0	..........................0	.................. 55,904	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	.............23,085,451	..........................0
4.	Amortization of Interest Maintenance Reserve (IMR)	............... (576,143)	..........................0	..........................0	..................... (568)	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	................(575,575)	..........................0

5. Separate Accounts net gain from operations excluding unrealized gains or

	losses	0	0	0	0	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	0	0
6.	Commissions and expense allowances on reinsurance ceded	..............2,478,453	..........................0	..........................0	................. 298,280	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..............2,180,173	..........................0
7.	Reserve adjustments on reinsurance ceded	..........................0	..........................0	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management,
	administration and contract guarantees from Separate Accounts	..........................0	..........................0	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
	8.2 Charges and fees for deposit-type contracts	..........................0	..........................0	0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
	8.3 Aggregate write-ins for miscellaneous income	33	0	0	33	0		0		0		0		0		0	0	0
9.	Totals (Lines 1 to 8.3)	24,109,931	0	0	1,688,212	0		0		0		0		0		0	22,421,719	0
10.	Death benefits	............ 19,546,340	..........................0	0	................. 841,256	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	.............18,705,084	..........................0
11.	Matured endowments (excluding guaranteed annual pure endowments)							0		0		0		0		0
..........................0	..........................0	0	..........................0	..........................0	..........................	..........................	..........................	..........................	..........................	..........................0	..........................0
12.	Annuity benefits	...........XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX
13.	Disability benefits and benefits under accident and health contracts	.................. 99,570	..........................0	..........................0	.................. 99,100	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	.......................470	..........................0
14.	Coupons, guaranteed annual pure endowments and similar benefits	..........................0	..........................0	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
15.	Surrender benefits and withdrawals for life contracts	.............. 2,310,300	..........................0	0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	.............. 2,310,300	..........................0
16.	Group conversions	..........................0	..........................0	0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
17.	Interest and adjustments on contract or deposit-type contract funds	.................473,265	..........................0	0	....................7,173	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	................. 466,092	..........................0
18.	Payments on supplementary contracts with life contingencies	..........................0	..........................0	..........................0	..........................0	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	..........................0	..........................0
19.	Increase in aggregate reserves for life and accident and health contracts ...	(46,778,629)	0	0	971,626	0		0		0		0		0		0	(47,750,255)	0
20.	Totals (Lines 10 to 19)	...........(24,349,154)	..........................0	0	..............1,919,155	..........................0	..........................	0	..........................	0	..........................	0	..........................	0	..........................	0	........... (26,268,309)	..........................0

21. Commissions on premiums, annuity considerations and deposit-type

	contract funds (direct business only)	1,634,374	0	0	224,233	0		..........................	0	0	0	0	0		1,410,141			...........XXX
22.	Commissions and expense allowances on reinsurance assumed				0		0		0		0		..........................	0		0		0		0		0		0		0
	0
23.	General insurance expenses					..........................0				..........................0			.................. 21,491			..........................0		..........................	0			..........................0				..........................0			..........................0			..........................0		..........................0		..........................0
	.................. 21,491
24.	Insurance taxes, licenses and fees, excluding federal income taxes					0					..........................	0			0			0
	................. 140,252			..........................0				.................. 18,212		..........................0				..........................0					..........................0		................. 122,040		..........................0
25.	Increase in loading on deferred and uncollected premiums		.................(38,704)			..........................0		0			.................(38,704)		..........................0		..........................	0		..........................0		0			0		..........................0		..........................0	..........................0
26.	Net transfers to or (from) Separate Accounts net of reinsurance		..........................0			..........................0		0			..........................0		..........................0		..........................	0		..........................0		0			0		..........................0		..........................0	..........................0
27.	Aggregatewrite-insfor deductions		16,329			0			0			505			0			0			0			0			0		0		15,824			0
28.	Totals (Lines 20 to 27)		(22,575,412)			0			0			2,144,892			0			0			0			0			0		0		(24,720,304)			0
29.	Net gain from operations before dividends to policyholders, refunds to
	members and federal income taxes (Line 9 minus Line 28)	.............46,685,343			..........................0			0			................(456,680)			..........................0		..........................	0			..........................0			0			0		..........................0		............ 47,142,023			..........................0
30.	Dividends to policyholders and refunds to members		0			0			0			0			0			0			0			0			0		0		0			0
31.	Net gain from operations after dividends to policyholders, refunds to
	members and before federal income taxes (Line 29 minus Line 30)		.............46,685,343			..........................0			0			................(456,680)			..........................0		..........................	0			..........................0			0			0		..........................0		............ 47,142,023			..........................0
32.	Federal income taxes incurred (excluding tax on capital gains)		0			0			0			0			0			0			0			0			0		0		0			0
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)		46,685,343			0			0			(456,680)			0			0			0			0			0		0		47,142,023			0
34.	Policies/certificates in force end of year		2,500			0			0			885			0			0			0			0			0		0		1,615			0
	DETAILS OF WRITE-INS
08.301.	Sundry receipts and adjustments																..........................	0
	........................ 33			..........................0		0			........................ 33		..........................0				..........................0		0		0		..........................0		..........................0		..........................0
08.302.	.........................................................................................................		.............................			.............................				.............................			.............................			.............................		.............................			.............................				.............................			.............................			.............................		.............................		.............................
08.303.	.........................................................................................................		.............................			.............................				.............................			.............................			.............................		.............................			.............................				.............................			.............................			.............................		.............................		.............................
08.398. Summary of remaining write-ins for Line 8.3 from overflow page		..........................0			..........................0		0			..........................0		..........................0		..........................	0		..........................0		0		0		..........................0		..........................0		..........................0

08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)		33			0			0			33			0			0			0			0			0		0		0			0
2701.	Sundry disbursements and adjustments		.................. 16,329			..........................0			0			.......................505			..........................0		..........................	0			..........................0			0			0		..........................0		.................. 15,824			..........................0
2702	.............................		.............................		.............................		.............................		.............................	.............................		.............................		.............................		.............................		.............................	.............................		.............................
2703	.............................			.............................			.............................		.............................			.............................	.............................			.............................			.............................			.............................			.............................	.............................		.............................
2798.	Summary of remaining write-ins for Line 27 from overflow page		..........................0			..........................0			0			..........................0			..........................0		..........................	0			..........................0			0			0		..........................0		..........................0			..........................0

2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)		16,329			0			0			505			0			0			0			0			0		0		15,824			0
(a) Include premium amounts for preneed plans included in Line 1	0
(b) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which columns are affected.	......................................................................................................................................................................................
(c) Individual and Group Credit Life are combined and included on								page. (Indicate whether included with Individual or Group.)

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

Analysis of Operations by Lines of Business - Group Life Insurance

N O N E

Analysis of Operations by Lines of Business - Individual Annuities

N O N E

Analysis of Operations by Lines of Business - Group Annuities

N O N E

Analysis of Operations by Lines of Business - Accident and Health

N O N E

6.2, 6.3, 6.4, 6.5

7.1

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

ANALYSIS OF INCREASE IN RESERVES DURING THE YEAR - INDIVIDUAL LIFE INSURANCE (a)

		1	2	3	4	5	6	7	8		9		10	11	12
								Universal Life							YRT
								With Secondary			Variable		Credit Life (b)	Other Individual	Mortality
		Total	Industrial Life	Whole Life	Term Life	Indexed Life	Universal Life	Guarantees	Variable Life		Universal Life		(N/A Fratermal)	Life	Risk Only
	Involving Life or Disability Contingencies (Reserves)
	(Net of Reinsurance Ceded)
1.	Reserve December 31 of prior year	........ 418,970,712	......................... 0	......................... 0	............1,917,509	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	........ 417,053,203	......................... 0
2.	Tabular net premiums or considerations	............7,524,174	......................... 0	......................... 0	............3,219,928	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	............4,304,246	......................... 0
3.	Present value of disability claims incurred	.................41,032	......................... 0	0	.................41,032	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	......................... 0	......................... 0
4.	Tabular interest	..........12,431,128	......................... 0	0	.................77,640	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	..........12,353,488	......................... 0
5.	Tabular less actual reserve released	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	......................... 0	......................... 0
6.	Increase in reserve on account of change in valuation basis	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	......................... 0	......................... 0
6.1	Change in excess of VM-20 deterministic/stochastic reserve over
	net premium reserve	......................... 0	.......... XXX	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	.......... XXX	......................... 0	......................... 0
7.	Other increases (net)	(39,589,682)	0	0	344,297	0	0	0		0		0	0	(39,933,979)	0
8.	Totals (Lines 1 to 7)	........ 399,377,364	......................... 0	0	........... 5,600,406	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	........ 393,776,958	......................... 0
9.	Tabular cost	............5,917,248	......................... 0	......................... 0	............3,988,010	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	............1,929,238	......................... 0
10.	Reserves released by death	..........18,936,683	......................... 0	......................... 0	.................. 1,602	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	..........18,935,081	......................... 0
11.	Reserves released by other terminations (net)	............2,331,351	......................... 0	0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	............2,331,351	......................... 0
12.	Annuity, supplementary contract and disability payments involving
	life contingencies	......................... 0	......................... 0	0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	......................... 0	......................... 0
13.	Net transfers to or (from) Separate Accounts	0	0	0	0	0	0	0		0		0	0	0	0
14.	Total Deductions (Lines 9 to 13)	27,185,282	0	0	3,989,612	0	0	0		0		0	0	23,195,670	0
15.	Reserve December 31 of current year	372,192,082	0	0	1,610,794	0	0	0		0		0	0	370,581,288	0
	Cash Surrender Value and Policy Loans
16.	CSV Ending balance December 31, current year	........ 369,426,434	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	......................... 0	.........................	0	.........................	0	......................... 0	........ 369,426,434	......................... 0
17.	Amount Available for Policy Loans Based upon Line 16 CSV	369,426,434	0	0	0	0	0	0		0		0	0	369,426,434	0

(a) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which columns are affected.	..........................................................................................................................................
(b) Individual and Group Credit Life are combined and included on	page. (Indicate whether included with Individual or Group.)

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE EQUITABLE FINANCIAL LIFE AND ANNUITY COMPANY

Analysis of Increase in Reserves During the Year - Group Life Insurance

N O N E

Analysis of Increase in Reserves During the Year - Individual Annuities

N O N E

Analysis of Increase in Reserves During the Year - Group Annuities

N O N E

7.2, 7.3, 7.4

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Equitable Holdings Inc. published this content on 02 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2024 14:01:21 UTC.

Equitable Financial Life and Annuity Company – Annual Statement 2023

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