Equitable Financial Life Insurance Company – Third Quarter Statement 2022
STATEMENT AS OF
STATEMENT AS OF
ASSETS
Current Statement Date |
4 |
|||||
1 |
2 |
3 |
|
|||
Net Admitted Assets |
Prior Year Net |
|||||
Assets |
Nonadmitted Assets |
(Cols. 1 - 2) |
Admitted Assets |
|||
1. |
Bonds |
45,214,622,840 |
0 |
45,214,622,840 |
46,005,226,935 |
|
2. |
Stocks: |
|||||
2.1 Preferred stocks |
372,776,654 |
0 |
372,776,654 |
371,728,230 |
||
2.2 Common stocks |
367,775,796 |
0 |
367,775,796 |
315,227,862 |
3. Mortgage loans on real estate:
3.1 First liens |
11,822,819,332 |
0 |
11,822,819,332 |
11,346,930,880 |
||||
3.2 Other than first liens |
223,670,756 |
0 |
223,670,756 |
169,354,910 |
||||
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) |
1 |
0 |
1 |
1 |
||
4.3 Properties held for sale (less $ |
0 |
|||||||
encumbrances) |
0 |
0 |
0 |
0 |
||||
5. |
Cash ($ |
68,278,846 |
), cash equivalents |
|||||
($ |
230,672,020 ) and short-term |
|||||||
investments ($ |
0 ) |
298,950,866 |
0 |
298,950,866 |
1,027,695,462 |
|||
6. |
Contract loans (including $ |
0 |
premium notes) |
3,536,801,351 |
6,284,740 |
3,530,516,611 |
3,531,975,678 |
|
7. |
Derivatives |
6,934,101 |
0 |
6,934,101 |
102,551,864 |
|||
8. |
Other invested assets |
2,626,458,181 |
10,372,186 |
2,616,085,995 |
2,260,133,895 |
|||
9. |
Receivables for securities |
1,057,814,677 |
0 |
1,057,814,677 |
52,130,637 |
|||
10. |
Securities lending reinvested collateral assets |
0 |
0 |
0 |
0 |
|||
11. |
Aggregate write-ins for invested assets |
141,870,108 |
0 |
141,870,108 |
177,890,000 |
|||
12. |
Subtotals, cash and invested assets (Lines 1 to 11) |
65,670,494,663 |
16,656,926 |
65,653,837,737 |
65,360,846,354 |
|||
13. |
Title plants less $ |
0 charged off (for Title insurers |
||||||
only) |
0 |
0 |
0 |
0 |
||||
14. |
Investment income due and accrued |
554,573,376 |
0 |
554,573,376 |
479,372,656 |
|||
15. |
Premiums and considerations: |
|||||||
15.1 Uncollected premiums and agents' balances in the course of collection |
140,228,187 |
3,298,451 |
136,929,736 |
149,832,074 |
||||
15.2 Deferred premiums, agents' balances and installments booked but |
||||||||
deferred and not yet due (including $ |
0 |
|||||||
earned but unbilled premiums) |
88,935,582 |
0 |
88,935,582 |
65,195,199 |
||||
15.3 Accrued retrospective premiums ($ |
0 ) and |
|||||||
contracts subject to redetermination ($ |
0 ) |
0 |
0 |
0 |
0 |
16. Reinsurance:
16.1 |
Amounts recoverable from reinsurers |
181,872,769 |
0 |
181,872,769 |
182,755,520 |
|
16.2 |
Funds held by or deposited with reinsured companies |
20,009,993 |
0 |
20,009,993 |
19,931,908 |
|
16.3 |
Other amounts receivable under reinsurance contracts |
6,051,511 |
0 |
6,051,511 |
9,908,465 |
|
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 |
1,166,854,760 |
540,867,298 |
625,987,462 |
570,021,157 |
|
19. |
Guaranty funds receivable or on deposit |
6,593,918 |
0 |
6,593,918 |
6,579,466 |
|
20. |
Electronic data processing equipment and software |
116,568,254 |
106,142,731 |
10,425,523 |
10,430,000 |
21. Furniture and equipment, including health care delivery assets
($ |
0 ) |
10,093,218 |
10,093,218 |
0 |
0 |
|
22. |
Net adjustment in assets and liabilities due to foreign exchange rates |
0 |
0 |
0 |
7,557 |
|
23. |
Receivables from parent, subsidiaries and affiliates |
175,673,888 |
0 |
175,673,888 |
164,285,133 |
|
24. |
Health care ($ |
0 ) and other amounts receivable |
0 |
0 |
0 |
0 |
25. |
Aggregate write-ins for other than invested assets |
2,142,446,234 |
43,031,892 |
2,099,414,342 |
2,255,095,861 |
26. Total assets excluding Separate Accounts, Segregated Accounts and
Protected Cell Accounts (Lines 12 to 25) |
70,280,396,353 |
720,090,516 |
69,560,305,837 |
69,274,261,350 |
27. From Separate Accounts, Segregated Accounts and Protected Cell
Accounts |
140,001,536,289 |
0 |
140,001,536,289 |
178,752,434,217 |
|||
28. |
Total (Lines 26 and 27) |
210,281,932,642 |
720,090,516 |
209,561,842,126 |
248,026,695,567 |
||
DETAILS OF WRITE-INS |
|||||||
1101. |
Collateral on Derivative Instruments |
0 |
140,060,000 |
177,890,000 |
|||
140,060,000 |
|||||||
1102. |
Miscellaneous invested assets |
1,810,108 |
0 |
1,810,108 |
0 |
||
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) |
141,870,108 |
0 |
141,870,108 |
177,890,000 |
||
2501. |
Accrued charges for administrative, separate accounts, claim service |
||||||
and other fees |
28,583 |
0 |
28,583 |
38,433 |
|||
2502. |
Miscellaneous assets |
27,265,187 |
0 |
27,265,187 |
32,493,349 |
||
2503. |
Other assets non-admitted |
43,031,892 |
43,031,892 |
0 |
0 |
||
2598. |
Summary of remaining write-ins for Line 25 from overflow page |
2,072,120,572 |
0 |
2,072,120,572 |
2,222,564,079 |
||
2599. |
Totals (Lines 2501 through 2503 plus 2598)(Line 25 above) |
2,142,446,234 |
43,031,892 |
2,099,414,342 |
2,255,095,861 |
2
STATEMENT AS OF
LIABILITIES, SURPLUS AND OTHER FUNDS
1 |
2 |
|||||
Current |
|
|||||
Statement Date |
Prior Year |
|||||
1. |
Aggregate reserve for life contracts $ |
44,198,037,246 less $ |
0 included in Line 6.3 |
|||
(including $ |
7,254 |
Modco Reserve) |
44,198,037,246 |
41,499,127,172 |
||
2. |
Aggregate reserve for accident and health contracts (including $ |
0 Modco Reserve) |
547,605,613 |
552,043,540 |
||
3. |
Liability for deposit-type contracts (including $ |
0 Modco Reserve) |
15,028,419,988 |
13,884,731,588 |
4. Contract claims:
4.1 |
Life |
567,025,695 |
582,822,191 |
||
4.2 |
Accident and health |
33,982,246 |
39,112,611 |
||
5. Policyholders' dividends/refunds to members $ |
2,628,696 and coupons $ |
0 due |
|||
and unpaid |
2,628,696 |
2,392,792 |
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 |
|||
|
29,310,577 |
107,599,028 |
|||
6.2 |
Policyholders' dividends and refunds to members not yet apportioned (including $ |
0 |
80,707,146 |
0 |
|
6.3 |
Coupons and similar benefits (including $ |
0 |
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
$ |
808 discount; including $ |
616,678 accident and health premiums |
5,245,007 |
4,878,316 |
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 |
5,119,860 |
5,058,289 |
|||||||
9.3 Other amounts payable on reinsurance, including $ |
0 assumed and $ |
8,855,656 |
|||||||
ceded |
8,855,656 |
20,758,532 |
|||||||
9.4 Interest Maintenance Reserve |
172,280,404 |
706,009,925 |
|||||||
10. |
Commissions to agents due or accrued-life and annuity contracts $ |
31,684,971 , accident and health |
|||||||
$ |
993,260 and deposit-type contract funds $ |
0 |
32,678,231 |
1,518,580 |
|||||
11. |
Commissions and expense allowances payable on reinsurance assumed |
3,885,928 |
3,932,247 |
||||||
12. |
General expenses due or accrued |
200,198,992 |
362,118,726 |
||||||
13. |
Transfers to Separate Accounts due or accrued (net) (including $ |
(2,850,278,475) accrued for expense |
|||||||
allowances recognized in reserves, net of reinsured allowances) |
(1,264,435,821) |
(2,291,790,201) |
|||||||
14. |
Taxes, licenses and fees due or accrued, excluding federal income taxes |
38,627,680 |
40,886,626 |
||||||
15.1 Current federal and foreign income taxes, including $ |
0 on realized capital gains (losses) |
88,671,322 |
623,088,703 |
||||||
15.2 |
Net deferred tax liability |
0 |
0 |
||||||
16. |
Unearned investment income |
1,601,569 |
1,934,217 |
||||||
17. |
Amounts withheld or retained by reporting entity as agent or trustee |
2,779,888,399 |
5,244,977,719 |
||||||
18. |
Amounts held for agents' account, including $ |
0 agents' credit balances |
0 |
0 |
|||||
19. |
Remittances and items not allocated |
155,358,959 |
167,118,667 |
||||||
20. |
Net adjustment in assets and liabilities due to foreign exchange rates |
0 |
40,900 |
||||||
21. |
Liability for benefits for employees and agents if not included above |
60,593,803 |
89,376,199 |
||||||
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 |
915,355,598 |
1,013,179,745 |
||||
24.02 Reinsurance in unauthorized and certified ($ |
0 ) companies |
22,786,479 |
215,074,436 |
||||
24.03 Funds held under reinsurance treaties with unauthorized and certified ($ |
0 ) reinsurers |
0 |
0 |
||||
24.04 |
Payable to parent, subsidiaries and affiliates |
0 |
12,759,923 |
||||
24.05 |
Drafts outstanding |
0 |
0 |
||||
24.06 |
Liability for amounts held under uninsured plans |
0 |
0 |
||||
24.07 |
Funds held under coinsurance |
818,831,908 |
1,091,029,635 |
||||
24.08 |
Derivatives |
0 |
0 |
||||
24.09 |
Payable for securities |
76,582,194 |
520,733,626 |
||||
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 |
560,145,236 |
420,491,521 |
||||
26. |
Total liabilities excluding Separate Accounts business (Lines 1 to 25) |
65,169,988,611 |
64,921,005,253 |
||||
27. |
From Separate Accounts Statement |
139,604,994,872 |
177,711,816,659 |
||||
28. |
Total liabilities (Lines 26 and 27) |
204,774,983,483 |
242,632,821,912 |
||||
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 |
1,676,898,965 |
1,728,225,540 |
||||
34. |
Aggregate write-ins for special surplus funds |
1,240,847,473 |
1,255,687,506 |
||||
35. |
Unassigned funds (surplus) |
1,866,612,205 |
2,407,460,609 |
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 $ |
396,541,417 |
in Separate Accounts Statement) |
4,784,358,643 |
5,391,373,655 |
||||
38. |
Totals of Lines 29, 30 and 37 |
4,786,858,643 |
5,393,873,655 |
||||||
39. |
Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3) |
209,561,842,126 |
248,026,695,567 |
||||||
DETAILS OF WRITE-INS |
|||||||||
2501. |
Aviation reinsurance losses |
12,267,352 |
12,610,433 |
||||||
2502. |
Accrued interest on policy claims and other contract funds |
5,017,054 |
4,557,215 |
||||||
2503. |
Miscellaneous liabilities |
542,860,830 |
403,323,873 |
||||||
2598. |
Summary of remaining write-ins for Line 25 from overflow page |
0 |
0 |
||||||
2599. |
Totals (Lines 2501 through 2503 plus 2598)(Line 25 above) |
||||||||
560,145,236 |
420,491,521 |
||||||||
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. |
Reserve for aviation reinsurance |
30,000,000 |
30,000,000 |
||||||
3402. |
Special contingent reserve fund for separate accounts |
2,500,000 |
2,500,000 |
||||||
3403. |
VA Derivatives (SSAP 108) |
1,208,347,473 |
1,223,187,506 |
||||||
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) |
1,240,847,473 |
1,255,687,506 |
3
STATEMENT AS OF
SUMMARY OF OPERATIONS
1 |
2 |
3 |
||
Current Year |
Prior Year |
Prior Year Ended |
||
To Date |
To Date |
|
||
1. |
Premiums and annuity considerations for life and accident and health contracts |
13,668,156,205 |
2,556,096,749 |
4,891,809,315 |
2. |
Considerations for supplementary contracts with life contingencies |
17,954,630 |
16,577,094 |
20,313,216 |
3. |
Net investment income |
5,342,208,376 |
(210,407,333) |
(377,860,197) |
4. |
Amortization of Interest Maintenance Reserve (IMR) |
(10,197,201) |
22,195,134 |
24,325,800 |
5. |
Separate Accounts net gain from operations excluding unrealized gains or losses |
515,674,660 |
548,280,918 |
962,257,810 |
6. |
Commissions and expense allowances on reinsurance ceded |
(106,210,731) |
36,239,000 |
58,165,851 |
7. |
Reserve adjustments on reinsurance ceded |
(3,513,672) |
(2,587,431) |
(3,842,126) |
8. Miscellaneous Income:
8.1 Income from fees associated with investment management, administration and contract |
||||
guarantees from Separate Accounts |
1,126,069,790 |
1,268,805,008 |
1,704,154,396 |
|
8.2 Charges and fees for deposit-type contracts |
0 |
0 |
0 |
|
8.3 Aggregate write-ins for miscellaneous income |
54,092,864 |
120,182,552 |
140,935,870 |
|
9. |
Totals (Lines 1 to 8.3) |
20,604,234,921 |
4,355,381,691 |
7,420,259,935 |
10. |
Death benefits |
1,726,942,525 |
1,898,507,367 |
2,589,881,964 |
11. |
Matured endowments (excluding guaranteed annual pure endowments) |
1,011,770 |
9,302,914 |
11,930,823 |
12. |
Annuity benefits |
1,749,811,111 |
1,761,962,933 |
2,355,853,220 |
13. |
Disability benefits and benefits under accident and health contracts |
61,415,966 |
53,661,970 |
75,829,573 |
14. |
Coupons, guaranteed annual pure endowments and similar benefits |
0 |
0 |
0 |
15. |
Surrender benefits and withdrawals for life contracts |
10,650,916,923 |
11,608,143,630 |
16,227,802,366 |
16. |
Group conversions |
0 |
0 |
0 |
17. |
Interest and adjustments on contract or deposit-type contract funds |
101,930,334 |
104,695,308 |
109,926,799 |
18. |
Payments on supplementary contracts with life contingencies |
35,715,198 |
37,582,330 |
47,993,989 |
19. |
Increase in aggregate reserves for life and accident and health contracts |
2,694,472,147 |
||
(10,900,188,960) |
(13,952,601,217) |
|||
20. |
Totals (Lines 10 to 19) |
17,022,215,974 |
4,573,667,492 |
7,466,617,517 |
21. Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
business only) |
985,411,045 |
910,978,279 |
1,282,533,315 |
|
22. |
Commissions and expense allowances on reinsurance assumed |
6,019,760 |
5,489,412 |
7,744,878 |
23. |
General insurance expenses and fraternal expenses |
607,214,975 |
908,279,948 |
1,159,268,816 |
24. |
Insurance taxes, licenses and fees, excluding federal income taxes |
39,120,453 |
60,541,917 |
76,687,549 |
25. |
Increase in loading on deferred and uncollected premiums |
201,788 |
687,105 |
913,635 |
26. |
Net transfers to or (from) Separate Accounts net of reinsurance |
621,635,144 |
(2,710,876,168) |
(3,923,487,434) |
27. |
Aggregate write-ins for deductions |
373,917,764 |
(417,346,761) |
(259,689,364) |
28. |
Totals (Lines 20 to 27) |
19,655,736,903 |
3,331,421,224 |
5,810,588,912 |
29. Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
Line 28) |
948,498,018 |
1,023,960,467 |
1,609,671,023 |
30. Dividends to policyholders and refunds to members |
81,300,630 |
105,539,401 |
101,497,148 |
31. Net gain from operations after dividends to policyholders, refunds to members and before federal
income taxes (Line 29 minus Line 30) |
867,197,388 |
918,421,066 |
1,508,173,875 |
32. Federal and foreign income taxes incurred (excluding tax on capital gains) |
282,982,167 |
481,640,558 |
505,857,807 |
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) |
584,215,221 |
436,780,508 |
1,002,316,068 |
|||
34. |
Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital |
|||||
gains tax of $ |
(215,685,234) (excluding taxes of $ |
(144,588,116) |
||||
transferred to the IMR) |
(1,526,529,331) |
(1,492,578,892) |
(1,810,333,284) |
|||
35. |
Net income (Line 33 plus Line 34) |
(942,314,110) |
(1,055,798,384) |
(808,017,216) |
||
CAPITAL AND SURPLUS ACCOUNT |
||||||
36. |
Capital and surplus, |
5,393,873,655 |
6,113,510,235 |
6,113,510,235 |
||
37. |
Net income (Line 35) |
(942,314,110) |
(1,055,798,384) |
(808,017,216) |
||
38. |
Change in net unrealized capital gains (losses) less capital gains tax of $ |
73,203,515 |
240,572,094 |
110,283,315 |
295,908,486 |
|
39. |
Change in net unrealized foreign exchange capital gain (loss) |
(49,750,525) |
26,910,916 |
38,944,411 |
||
40. |
Change in net deferred income tax |
273,815,595 |
500,299,275 |
491,025,077 |
||
41. |
Change in nonadmitted assets |
421,947,547 |
(265,620,211) |
(325,104,832) |
||
42. |
Change in liability for reinsurance in unauthorized and certified companies |
192,287,957 |
533,657 |
(64,540,779) |
||
43. |
Change in reserve on account of change in valuation basis, (increase) or decrease |
0 |
0 |
(1,201,246,158) |
||
44. |
Change in asset valuation reserve |
97,824,147 |
(295,985,872) |
(331,973,631) |
||
45. |
Change in treasury stock |
0 |
0 |
0 |
||
46. |
Surplus (contributed to) withdrawn from Separate Accounts during period |
1,156,050,767 |
(49,944,048) |
(62,925,427) |
||
47. |
Other changes in surplus in Separate Accounts Statement |
(1,159,750,803) |
49,944,048 |
58,674,870 |
||
48. |
Change in surplus notes |
0 |
0 |
0 |
||
49. |
Cumulative effect of changes in accounting principles |
0 |
(512,714,904) |
(496,257,962) |
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 |
(51,326,575) |
721,763,549 |
721,697,052 |
|
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 |
177,502,541 |
0 |
1,003,092,656 |
|
52. |
Dividends to stockholders |
(929,781,499) |
0 |
0 |
|
53. |
Aggregate write-ins for gains and losses in surplus |
(34,092,148) |
(39,029,171) |
(38,913,127) |
|
54. |
Net change in capital and surplus for the year (Lines 37 through 53) |
(607,015,012) |
(809,357,830) |
(719,636,580) |
|
55. |
Capital and surplus, as of statement date (Lines 36 + 54) |
4,786,858,643 |
5,304,152,405 |
5,393,873,655 |
|
DETAILS OF WRITE-INS |
|||||
08.301. Sundry receipts and adjustments |
54,092,864 |
||||
120,297,585 |
141,050,903 |
||||
08.302. Aviation reinsurance premiums |
0 |
(115,033) |
(115,033) |
||
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) |
54,092,864 |
120,182,552 |
140,935,870 |
||
2701. |
Aviation reinsurance losses |
(408,169) |
(839,512) |
(375,876) |
|
2702. |
Sundry disbursements and adjustments |
215,548,827 |
12,143,450 |
105,670,040 |
|
2703. |
Separate account |
158,777,106 |
85,308,343 |
148,975,514 |
|
2798. |
Summary of remaining write-ins for Line 27 from overflow page |
0 |
(513,959,042) |
(513,959,042) |
|
2799. |
Totals (Lines 2701 through 2703 plus 2798)(Line 27 above) |
373,917,764 |
(417,346,761) |
(259,689,364) |
|
5301. |
Change in Pension Plans |
375,000 |
348,133 |
464,177 |
|
5302. |
Prior Year Adjustments |
(34,467,148) |
(39,377,304) |
(39,377,304) |
|
5303. |
0 |
0 |
0 |
||
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) |
(34,092,148) |
(39,029,171) |
(38,913,127) |
4
STATEMENT AS OF
CASH FLOW
1 |
2 |
3 |
|||
Current Year |
Prior Year |
Prior Year Ended |
|||
To Date |
To Date |
|
|||
Cash from Operations |
|||||
1. |
Premiums collected net of reinsurance |
13,617,902,702 |
11,413,914,044 |
15,821,892,956 |
|
2. |
Net investment income |
5,066,505,160 |
(179,987,873) |
(435,942,253) |
|
3. |
Miscellaneous income |
1,251,498,159 |
1,422,639,129 |
1,899,413,991 |
|
4. |
Total (Lines 1 to 3) |
19,935,906,021 |
12,656,565,300 |
17,285,364,694 |
|
5. |
Benefit and loss related payments |
14,376,338,667 |
15,397,853,071 |
21,301,209,457 |
|
6. |
Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts |
(1,561,770,003) |
(3,401,483,135) |
(4,962,942,869) |
|
7. |
Commissions, expenses paid and aggregate write-ins for deductions |
2,196,090,372 |
1,894,160,672 |
2,481,411,989 |
|
8. |
Dividends paid to policyholders |
16,990,234 |
21,329,059 |
28,532,712 |
|
9. |
Federal and foreign income taxes paid (recovered) net of $ |
0 tax on capital |
|||
gains (losses) |
(56,059,531) |
(98,446,239) |
(129,342,872) |
||
10. |
Total (Lines 5 through 9) |
14,971,589,739 |
13,813,413,428 |
18,718,868,417 |
|
11. |
Net cash from operations (Line 4 minus Line 10) |
4,964,316,282 |
(1,156,848,128) |
(1,433,503,723) |
|
Cash from Investments
12. Proceeds from investments sold, matured or repaid:
12.1 |
Bonds |
7,249,168,372 |
17,659,993,744 |
19,098,674,897 |
12.2 |
Stocks |
6,702,051 |
424,319,247 |
486,462,364 |
12.3 |
Mortgage loans |
836,717,166 |
1,244,707,353 |
1,479,877,462 |
12.4 |
Real estate |
0 |
0 |
0 |
12.5 |
Other invested assets |
168,954,792 |
267,757,303 |
404,184,795 |
12.6 |
Net gains or (losses) on cash, cash equivalents and short-term investments |
0 |
0 |
(861,268) |
12.7 |
Miscellaneous proceeds |
36,019,892 |
55,054,000 |
33,724,000 |
12.8 Total investment proceeds (Lines 12.1 to 12.7) |
8,297,562,273 |
19,651,831,647 |
21,502,062,250 |
|
13. Cost of investments acquired (long-term only): |
||||
13.1 |
Bonds |
7,157,791,964 |
18,428,566,778 |
20,673,894,332 |
13.2 |
Stocks |
31,155,429 |
614,496,191 |
615,171,190 |
13.3 |
Mortgage loans |
1,363,486,855 |
475,656,884 |
769,627,867 |
13.4 |
Real estate |
0 |
0 |
0 |
13.5 |
Other invested assets |
554,569,827 |
717,570,297 |
977,336,977 |
13.6 |
Miscellaneous applications |
2,640,118,023 |
5,036,502,345 |
4,088,387,952 |
13.7 |
Total investments acquired (Lines 13.1 to 13.6) |
11,747,122,098 |
25,272,792,495 |
27,124,418,318 |
14. Net increase (or decrease) in contract loans and premium notes |
(2,223,558) |
(94,046,802) |
(95,055,192) |
|
15. Net cash from investments (Line 12.8 minus Line 13.7 and Line 14) |
(3,447,336,267) |
(5,526,914,046) |
(5,527,300,876) |
|
Cash from Financing and Miscellaneous Sources
16. Cash provided (applied):
16.1 |
Surplus notes, capital notes |
0 |
0 |
0 |
16.2 |
Capital and paid in surplus, less treasury stock |
0 |
749,981,358 |
749,981,359 |
16.3 |
Borrowed funds |
0 |
0 |
0 |
16.4 |
Net deposits on deposit-type contracts and other insurance liabilities |
1,185,618,547 |
3,609,325,133 |
4,417,937,738 |
16.5 Dividends to stockholders |
929,781,499 |
0 |
0 |
|
16.6 Other cash provided (applied) |
(2,501,561,658) |
1,584,895,299 |
1,406,637,647 |
|
17. Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5 |
||||
plus Line 16.6) |
(2,245,724,610) |
5,944,201,790 |
6,574,556,744 |
|
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) |
(728,744,595) |
(739,560,384) |
(386,247,855) |
|
19. Cash, cash equivalents and short-term investments: |
||||
19.1 |
Beginning of year |
1,027,695,461 |
1,413,943,316 |
1,413,943,316 |
19.2 End of period (Line 18 plus Line 19.1) |
298,950,866 |
674,382,932 |
1,027,695,461 |
|
Note: Supplemental disclosures of cash flow information for non-cash transactions: |
||||
20.0001. SEE NOTE 1A(2) IN THE NOTES TO FINANCIAL STATEMENTS FOR NON-CASH TRANSACTIONS |
0 |
0 |
0 |
|
5
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Phillips & Associates, Inc. Handles Madison Countys Property, Equipment, and General Liability Insurance Claims
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