Order Prints

August 12, 2024 Reinsurance No comments

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK – 2nd QUARTER FINANCIALS 2024

U.S. Markets via PUBT

STATEMENT AS OF JUNE 30, 2024 OF THE RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

ASSETS

		Current Statement Date		4
	1	2		3	December 31
				Net Admitted Assets	Prior Year Net
	Assets	Nonadmitted Assets		(Cols. 1 - 2)	Admitted Assets
1. Bonds	............ 1,161,091,625	.................................0	............	1,161,091,625	............ 1,213,509,053

2. Stocks:

	2.1 Preferred stocks			4,591,265	0	4,591,265	3,850,693
	2.2 Common stocks			2,466,872	0	2,466,872	2,303,685
3.	Mortgage loans on real estate:
	3.1 First liens				105,770,008	0	105,770,008	108,882,071
	3.2 Other than first liens			0	0	0	0
4.	Real estate:
	4.1 Properties occupied by the company (less $	0
	encumbrances)			0	0	0	0
	4.2 Properties held for the production of income (less
	$	0	encumbrances)	.................................0	.................................0	.................................0	.................................0
	4.3 Properties held for sale (less $	0

	.......................................................................................encumbrances)			.................................0	.................................0	.................................0	.................................0
5.	Cash ($	15,613,156	), cash equivalents
	($	32,801,000	) and short-term
	investments ($	39,002,698 )	................. 87,416,855	.................................0	................. 87,416,855	................. 94,656,640
6.	Contract loans (including $	.................................	0	premium notes)	................. 58,709,870	........................ 67,732	................. 58,642,139	................. 61,858,415
7.	Derivatives				...................... 613,800	.................................0	...................... 613,800	.......................392,789
8.	Other invested assets			................... 4,086,636	.................................0	................... 4,086,636	................... 4,123,969
9.	Receivables for securities			................... 1,395,359	.................................0	................... 1,395,359	................... 1,657,898
10.	Securities lending reinvested collateral assets	..................42,327,773	.................................0	..................42,327,773	................. 45,177,923
11.	Aggregate write-ins for invested assets	.................................0	.................................0	.................................0	.................................0
12.	Subtotals, cash and invested assets (Lines 1 to 11)	............ 1,468,470,064	........................ 67,732	............ 1,468,402,333	............ 1,536,413,137
13.	Title plants less $	0 charged off (for Title insurers
	only)				.................................0	.................................0	.................................0	.................................0
14.	Investment income due and accrued	................. 11,507,152	........................ 30,356	................. 11,476,797	................. 12,153,032
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	...................... 818,460	...................... 412,124	.......................406,336	................. (5,873,899)
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	0
	............................................................earned but unbilled premiums)	...................5,066,420	.................................0	...................5,066,420	...................4,855,268
	15.3 Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	0 )	.................................0	.................................0	.................................0	.................................0
16.	Reinsurance:
	....................................................16.1 Amounts recoverable from reinsurers	................. 26,920,696	.................................0	................. 26,920,696	................. 25,255,877
	16.2 Funds held by or deposited with reinsured companies	.................................0	.................................0	.................................0	.................................0
	16.3 Other amounts receivable under reinsurance contracts	................... 1,689,322	.................................0	................... 1,689,322	................... 4,724,024
17.	Amounts receivable relating to uninsured plans	.................................0	.................................0	.................................0	.................................0
18.1	....Current federal and foreign income tax recoverable and interest thereon	................... 2,000,304	.................................0	................... 2,000,304	...................... 529,100
18.2	...................................................................................Net deferred tax asset			................. 44,897,691	................. 36,871,189	...................8,026,502	................... 8,648,277
19.	......................................................Guaranty funds receivable or on deposit	...................... 114,515	.................................0	...................... 114,515	.......................161,376
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	........................ 80,408	........................ 80,408	.................................0	.................................0
24.	Health care ($		0 ) and other amounts receivable	........................ 67,114	........................ 67,114	.................................0	.................................0
25.	........................................Aggregate write-ins for other than invested assets	................... 1,154,717	........................ 17,912	................... 1,136,804	...................... 902,828
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	............ 1,562,786,865	................. 37,546,836	............ 1,525,240,029	............ 1,587,769,020
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts				................474,619,407	.................................0	................474,619,407	................465,720,937
28.	Total (Lines 26 and 27)				2,037,406,272	37,546,836	1,999,859,436	2,053,489,957
	DETAILS OF WRITE-INS
1101.	......................................................................................................................	....................................	....................................	....................................	....................................
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	Summary of remaining write-ins for Line 11 from overflow page	.................................0	.................................0	.................................0	.................................0
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)	0	0	0	0
2501.	Miscellaneous assets			................... 1,154,717	........................ 17,912	................... 1,136,804	...................... 902,828
2502.	.......................................................................................................................	....................................	....................................	....................................	....................................
2503.	.......................................................................................................................	....................................	....................................	....................................	....................................
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	.................................0	.................................0	.................................0	.................................0
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	1,154,717	17,912	1,136,804	902,828

STATEMENT AS OF JUNE 30, 2024 OF THE RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

LIABILITIES, SURPLUS AND OTHER FUNDS

									1	2
									Current	December 31
									Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	................872,909,641	less $	0 included in Line 6.3
	(including $	1,005,104	Modco Reserve)				872,909,641	889,110,099
2.	Aggregate reserve for accident and health contracts (including $	0	Modco Reserve)	26,317,068	26,450,391
3.	Liability for deposit-type contracts (including $	0	Modco Reserve)		42,790,683	46,766,005
4.	Contract claims:
	4.1 Life						12,221,776	10,518,095
	4.2 Accident and health						20,343,740	28,786,748
5.	Policyholders' dividends/refunds to members $	26,364	and coupons $	0	due
	and unpaid						26,364	39,044
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)						1,267,008	1,253,598
	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	91,153	114,477
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				47,264	124,427
	9.3 Other amounts payable on reinsurance, including $	0 assumed and $	8,643,016
		ceded				8,643,016	5,244,509
	9.4 Interest Maintenance Reserve			4,215,517	3,635,390
10.	Commissions to agents due or accrued-life and annuity contracts $	231,965 , accident and health
	$	...................... 786,028 and deposit-type contract funds $	.................................	0		1,140,028
		1,017,993
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed		.................................0	.................................0
12.	............................................................................................................................................General expenses due or accrued			...................... 602,438	...................... 645,459
13.	Transfers to Separate Accounts due or accrued (net) (including $	(476,802) accrued for expense
	allowances recognized in reserves, net of reinsured allowances)		........................ 90,992	........................ 93,115
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes		.....................(466,195)	.....................(286,276)
15.1 Current federal and foreign income taxes, including $	0 on realized capital gains (losses)	.................................0	.................................0
15.2	Net deferred tax liability				.................................0	.................................0
16.	Unearned investment income			...................1,006,865	...................... 992,671
17.	.......................................................................................Amounts withheld or retained by reporting entity as agent or trustee		........................ 50,794	........................ 62,473
18.	........................Amounts held for agents' account, including $	...........................................86,190 agents' credit balances	........................ 86,190	........................ 59,278
19.	........................................................................................................................................Remittances and items not allocated			................... 8,004,739	................. 13,981,430
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	24,000,000

24. Miscellaneous liabilities:


	24.01	Asset valuation reserve			................... 9,163,318	................... 7,093,690
	.................................24.02 Reinsurance in unauthorized and certified ($	0 ) companies	.......................................................	.......................337,909	...................... 194,076
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	0 ) reinsurers	.................................0	.................................0
	24.04	Payable to parent, subsidiaries and affiliates		................. 14,963,678	................. 14,829,389
	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			........................ 47,585	...................... 143,460
	24.09	Payable for securities			................... 3,120,415	...................2,500,021
	24.10	Payable for securities lending			..................42,327,773	................. 45,177,923
	24.11 Capital notes $	0 and interest thereon $	0	0	0
25.	Aggregate write-ins for liabilities			8,594,098	9,034,656
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)		1,077,821,827	1,131,704,174
27.	From Separate Accounts Statement			474,619,407	465,720,937
28.	Total liabilities (Lines 26 and 27)			1,552,441,234	1,597,425,111
29.	Common capital stock			2,755,726	2,755,726
30.	..............................................................................................................................................................Preferred capital stock			.................................0	.................................0
31.	..........................................................................................................Aggregate write-ins for other than special surplus funds		................122,336,808	................125,754,842
32.	............................................................................................................................................................................Surplus notes			.................................0	.................................0
33.	Gross paid in and contributed surplus			228,881,164	228,881,164
34.	Aggregate write-ins for special surplus funds		0	0
35.	Unassigned funds (surplus)			93,444,504	98,673,114

36. Less treasury stock, at cost:

	36.1	0	shares common (value included in Line 29	$	.................................0	)	.................................0	.................................0
	36.2	0	shares preferred (value included in Line 30	$	.................................0	)	.................................0	.................................0
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	0 in Separate Accounts Statement)	444,662,476	453,309,120
38.	Totals of Lines 29, 30 and 37				447,418,202	456,064,846
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				1,999,859,436	2,053,489,957
	DETAILS OF WRITE-INS
2501.	Unclaimed property					................... 6,331,777	................... 5,596,747
2502.	Margin call collateral					...................1,081,821	...................1,081,821
2503.	Lifeline deposits payable	......................................................................................................................................................				...................... 925,894	...................2,040,485
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			...................... 254,607	...................... 315,604
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)				8,594,098	9,034,656
3101.	Deferred gain on reinsurance	.................................................................................................................................................			122,336,808	125,754,842

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)	122,336,808	125,754,842
3401	....................................	....................................

3402	....................................	....................................
3403	....................................	....................................
3498.	Summary of remaining write-ins for Line 34 from overflow page	.................................0	.................................0
3499.	Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)	0	0

STATEMENT AS OF JUNE 30, 2024 OF THE RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SUMMARY OF OPERATIONS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Premiums and annuity considerations for life and accident and health contracts	................. 68,834,548	................. 71,905,477	................141,193,003
2.	Considerations for supplementary contracts with life contingencies	...................... 689,398	................... 3,104,069	................... 2,379,740
3.	Net investment income	..................35,337,797	................. 36,010,745	................. 71,358,059
4.	Amortization of Interest Maintenance Reserve (IMR)	.....................(577,939)	.....................(193,208)	.....................(662,202)
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	.................................0	.................................0	.................................0
6.	Commissions and expense allowances on reinsurance ceded	................... 6,471,248	................. 12,111,221	................. 18,011,645
7.	Reserve adjustments on reinsurance ceded	................(25,819,167)	................(22,751,901)	................(50,395,915)
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	................... 5,033,409	................... 5,216,784	................. 10,341,936
	8.2 Charges and fees for deposit-type contracts	.................................0	.................................0	.................................0
	8.3 Aggregate write-ins for miscellaneous income	808,568	795,933	1,423,717
9.	Totals (Lines 1 to 8.3)	90,777,862	106,199,120	193,649,981
10.	Death benefits	29,311,832	................. 33,089,044	................. 64,022,825
11.	Matured endowments (excluding guaranteed annual pure endowments)	.......................... 3,934	..........................2,891	..........................8,682
12.	Annuity benefits	...................2,645,969	................... 3,407,621	................... 6,297,970
13.	Disability benefits and benefits under accident and health contracts	................. 41,106,890	................. 27,707,388	................. 75,066,970
14.	Coupons, guaranteed annual pure endowments and similar benefits	.................................0	.................................0	.................................0
15.	Surrender benefits and withdrawals for life contracts	................. 21,779,450	................. 14,749,443	................. 29,743,819
16.	Group conversions	.................................0	.................................0	.................................0
17.	Interest and adjustments on contract or deposit-type contract funds	...................... 969,310	...................... 558,506	................... 1,321,948
18.	Payments on supplementary contracts with life contingencies	...................... 782,698	................... 2,326,541	................... 3,479,884
19.	Increase in aggregate reserves for life and accident and health contracts	(16,333,781)	(9,210,662)	(69,444,333)
20.	Totals (Lines 10 to 19)	................. 80,266,302	................. 72,630,772	................110,497,766
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................... 3,895,480	................... 3,802,188	................... 7,571,626
22.	Commissions and expense allowances on reinsurance assumed	.................................0	.................................0	.................................0
23.	General insurance expenses and fraternal expenses	................... 7,936,358	................... 8,339,535	................. 16,504,984
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................... 2,926,043	................... 3,024,235	................... 5,740,205
25.	Increase in loading on deferred and uncollected premiums	................... 1,110,635	.......................107,839	...................... 496,925
26.	Net transfers to or (from) Separate Accounts net of reinsurance	................(28,682,418)	................(24,432,062)	................(55,507,985)
27.	Aggregate write-ins for deductions
23,116	9,871	25,556
28.	Totals (Lines 20 to 27)	67,475,516	63,482,379	85,329,078
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................. 23,302,345	................. 42,716,741	................108,320,903
30.	Dividends to policyholders and refunds to members	615,500	536,976	1,139,366
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................. 22,686,845	................. 42,179,765	................107,181,538
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	3,752,722	6,174,041	9,563,403
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)	................. 18,934,123	................. 36,005,724	................. 97,618,135

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

	gains tax of $	38,649 (excluding taxes of $	582
	transferred to the IMR)		(119,449)	(555,215)	(1,309,281)
35.	Net income (Line 33 plus Line 34)	18,814,674	35,450,508	96,308,854
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	456,064,846	405,307,201	405,307,201
37.	Net income (Line 35)		18,814,674	35,450,508	96,308,854
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	25,522	108,719	(1,878,316)	(1,320,587)
39.	Change in net unrealized foreign exchange capital gain (loss)	(12,708)	81,781	101,206
40.	Change in net deferred income tax	(36,339)	(405,039)	(9,689,953)
41.	............................................................................................................Change in nonadmitted assets	.....................(889,494)	................. (3,666,895)	................... 4,956,711
42.	.......................................Change in liability for reinsurance in unauthorized and certified companies	.....................(143,833)	.....................(213,576)	.......................(58,130)
43.	Change in reserve on account of change in valuation basis, (increase) or decrease
0	0	501,268
44.	Change in asset valuation reserve	(2,069,628)	(115,990)	(2,953,364)
45.	Change in treasury stock		0	0	0
46.	.........................................Surplus (contributed to) withdrawn from Separate Accounts during period	.................................0	.................................0	.................................0
47.	................................................................Other changes in surplus in Separate Accounts Statement	.................................0	.................................0	.................................0
48.	Change in surplus notes
	0	0	0
49.	Cumulative effect of changes in accounting principles	0	0	(95,263)
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	0	0	0
	51.2 Transferred to capital (Stock Dividend)	0	.................................0	.................................0
	51.3 Transferred from capital	.................................0	.................................0	.................................0

	51.4 Change in surplus as a result of reinsurance	(3,418,035)	................. (9,379,569)	................(12,993,095)
52.	Dividends to stockholders	................(21,000,000)	.................................0	................(24,000,000)
53.	Aggregate write-ins for gains and losses in surplus	0	0	0

54.	Net change in capital and surplus for the year (Lines 37 through 53)	(8,646,644)	19,872,904	50,757,645
55.	Capital and surplus, as of statement date (Lines 36 + 54)	447,418,202	425,180,105	456,064,846
	DETAILS OF WRITE-INS
...........................................................................................................................................08.301. Fee income	...................... 668,612	.......................627,354	................... 1,272,944
..........................................................................................................................08.302. Miscellaneous income	...................... 139,956	...................... 168,579	.......................150,773
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)	808,568	795,933	1,423,717
2701.	Reinsurance expense	23,111	6,569	19,113
2702.	Miscellaneous expense	5	.......................... 3,302	..........................6,443
2703	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	.................................0	.................................0	.................................0
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)	23,116	9,871	25,556
5301	....................................	....................................	....................................

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

STATEMENT AS OF JUNE 30, 2024 OF THE RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

CASH FLOW

Cash from Operations

Current Year

To Date

Prior Year

To Date

Prior Year Ended

December 31

1.	Premiums collected net of reinsurance	................. 61,552,692	................. 74,519,215	................142,478,833
2.	Net investment income	................. 35,651,515	................. 35,293,604	................. 70,108,394
3.	Miscellaneous income	10,823,510	10,999,566	15,973,479
4.	Total (Lines 1 to 3)	108,027,717	120,812,385	228,560,707
5.	Benefit and loss related payments	................127,423,768	................. 90,668,769	................217,817,929
6.	.................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	................(28,680,295)	................(24,555,062)	................(55,741,563)
7.	...............................................Commissions, expenses paid and aggregate write-ins for deductions	................. 13,972,730	................. 16,991,139	................. 31,490,867
8.	Dividends paid to policyholders	.......................614,770	.......................572,843	...................1,096,011
9.	Federal and foreign income taxes paid (recovered) net of $	70,043 tax on capital
	gains (losses)	5,263,157	9,468,922	13,780,830
10.	Total (Lines 5 through 9)	118,594,131	93,146,611	208,444,074
11.	Net cash from operations (Line 4 minus Line 10)	(10,566,414)	27,665,774	20,116,633

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	................110,616,395	................199,509,768	................351,033,977
	12.2	Stocks	.................................0	...................... 300,000	...................... 600,000
	12.3	Mortgage loans	................... 3,112,063	................... 3,001,490	..................13,727,371
	12.4	Real estate	.................................0	.................................0	.................................0
	12.5	Other invested assets	........................ 54,249	...................... 415,708	...................... 416,827
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	..........................1,543	............................(140)	........................ (1,294)
	12.7	Miscellaneous proceeds	3,733,083	4,197,697	12,672,478
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	................117,517,333	................207,424,523	................378,449,359
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	................. 58,184,424	............... 205,994,909	................311,099,134
	13.2	Stocks	...................... 800,000	.................................0	.................................0
	13.3	Mortgage loans	.................................0	.................................0	................. 16,500,000
	13.4	Real estate	.................................0	.................................0	.................................0
	13.5	Other invested assets	.................................0	.................................0	.................................0
	13.6	Miscellaneous applications	221,011	4,621,672	2,678,924
	13.7	Total investments acquired (Lines 13.1 to 13.6)	59,205,435	210,616,581	330,278,058
14.	Net increase (or decrease) in contract loans and premium notes	(3,221,870)	(674,481)	(2,948,026)
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	61,533,767	(2,517,577)	51,119,327
		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	.................................0	.................................0
	16.3	Borrowed funds	.................................0	.................................0	.................................0
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	................. (3,975,322)	..................(3,032,736)	................. (6,041,547)
	..........................................................................................................16.5 Dividends to stockholders	................. 45,000,000	.................................0	.................................0
	....................................................................................................16.6 Other cash provided (applied)	(9,231,816)	(28,539,909)	(18,914,286)
17.	Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus Line 16.6)	(58,207,138)	(31,572,645)	(24,955,833)
	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)	................. (7,239,785)	................. (6,424,448)	................. 46,280,127
19.	Cash, cash equivalents and short-term investments:
	19.1	Beginning of year	................. 94,656,640	................. 48,376,513	................. 48,376,513
	19.2 End of period (Line 18 plus Line 19.1)	87,416,855	41,952,065	94,656,640

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

STATEMENT AS OF JUNE 30, 2024 OF THE RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

EXHIBIT 1

DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Individual life	................. 81,332,259	................. 82,175,528	................155,461,927
2.	Group life	5,013,452	................... 5,273,817	................. 10,172,016
3.	Individual annuities	263,864	196,346	324,276
4.	Group annuities	0	0	0
5.	Accident & health	45,721,558	45,430,742	92,741,878
6.	Fraternal	0	0	0
7.	Other lines of business	0	0	0
8.	Subtotal (Lines 1 through 7)	132,331,134	133,076,432	258,700,097
9.	Deposit-type contracts	.................................0	.................................0	...................... 109,676
10.	Total (Lines 8 and 9)	132,331,134	133,076,432	258,809,773

STATEMENT AS OF JUNE 30, 2024 OF THE ReliaStar Life Insurance Company of New York

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

1. Summary of Significant Accounting Policies and Going Concern

Accounting Practices
The financial statements of ReliaStar Life Insurance Company of New York (the "Company" or "RNY") are presented on the basis of accounting practices prescribed or permitted by the New York Department of Financial Services ("NYDFS").
The NYDFS recognizes only statutory accounting practices prescribed or permitted by the State of New York for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under the New York Insurance Law. The National Association of Insurance Commissioners' ("NAIC") Accounting Practices and Procedures Manual ("NAIC SAP") has been adopted as a component of prescribed or permitted practices by the State of New York. The Superintendent of the NYDFS has the right to permit other specific practices that deviate from prescribed practices.
The NYDFS superintendent approved a permitted accounting practice that allows the Company to hold reserves computed in accordance with VM-A and VM-C for individual term life policies that convert into universal life policies, instead of Valuation Manual 20: Requirements for Principle-Based Reserves for Life Products ("VM-20") reserves as required by the valuation manual. As of June 30, 2024, there were 100 such policies with total face amount of $22,555,000 and reserves of $288,872.
Other than the permitted practice above, the Company did not have any prescribed or permitted practices as of June 30, 2024 and December 31, 2023.

			F/S	F/S
		SSAP #	Page	Line #			2024		2023
Net Income:
(1)	RNY State basis (Page 4, Line 35, Columns 1 & 3)	XXX	XXX	XXX	$	18,814,674	$	96,308,854
(2)	State prescribed practices that are an increase/(decrease) from NAIC SAP:
	None						-		-
(3)	State permitted practices that are an increase/(decrease) from NAIC SAP:
	None						-		-
(4)	NAIC SAP (1-2-3=4)	XXX	XXX	XXX	$	18,814,674	$	96,308,854
Surplus:

(5)	RNY State basis (Page 3, Line 38, Columns 1 & 2)	XXX	XXX	XXX	$	447,418,202	$	456,064,846
(6)	State prescribed practices that are an increase/(decrease) from NAIC SAP:
	None						-		-
(7)	State permitted practices that are an increase/(decrease) from NAIC SAP:
	None						-		-
(8)	NAIC SAP (5-6-7=8)	XXX	XXX	XXX	$	447,418,202	$	456,064,846

Accounting Policy
1. Bonds not backed by other loans are stated at either amortized cost using the yield to worst method or the lower of cost or fair market value. The Company does not have any SVO-Identified investments as defined in SSAP No. 26R, Bonds-Revised.

Loan-backedsecurities are stated at either amortized cost or the lower of amortized cost or fair market value. Amortized cost is determined using the interest method and includes anticipated prepayments. The prospective adjustment method is used to determine the amortized cost for the majority of loan-backed and structured securities. For certain securities, the retrospective adjustments methodology is utilized, including agency and non-agency pools.

The Company made no significant changes to its accounting policies or practices as of June 30, 2024.

Certain amounts in the Company's statutory basis financial statements have been reclassified to conform to the 2024 financial statement presentation.

1. Going ConceNone
Accounting Changes and Corrections of ErrorsNo significant change
Business Combinations and Goodwill

None

4. Discontinued Operations None

STATEMENT AS OF JUNE 30, 2024 OF THE ReliaStar Life Insurance Company of New York

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

5. Investments

D. Loan-Backed Securities

Prepayment assumptions for loan-backed and structured securities are obtained from third party services, broker dealer survey values or internal estimates.
The following table discloses in aggregate the Other than Temporary Impairment ("OTTI") recognized in accordance with structured securities subject to SSAP No. 43R,Loan-backedand Structured Securities ("SSAP No. 43R") as of June 30, 2024 due to intent to sell or inability or lack of intent to hold to recovery.

		(1)			(2)		(3)
	Amortized Cost	Other-than-Temporary Impairment
		Basis Before		Recognized in Loss
		Other-than-
			(2a)	(2b)
		Temporary		Fair Value
		Impairment		Interest	Non-interest
OTTI recognized 1st Quarter
a. Intent to sell	$	-	$	- $	- $	-

Inability or lack of intent to retain the investment in the security for a period of time sufficient

to recover the amortized cost basis		-			-			-	-
c. Total 1st Quarter (a+b)	$	-	$	-	$	-	$	-
OTTI recognized 2nd Quarter

d. Intent to sell	$	250,944	$	181,675	$	-	$	69,269

Inability or lack of intent to retain the investment in the security for a period of time sufficient

	to recover the amortized cost basis		-		-		-		-
f.	Total 2nd Quarter (d+e)	$	250,944	$	181,675	$	- $	69,269
m.	Annual Aggregate Total (c+f+i+l)			$	181,675	$	-

The Company did not have any OTTI's that were recognized in accordance with structured securities subject to SSAP No. 43R for the period April 1, 2024 to June 30, 2024.
The following table shows all impaired securities at June 30, 2024 in the aggregate for which an OTTI has not been recognized in earnings as a realized loss, including securities with a recognized OTTI for non-interest related declines when a non-recognized interest related impairment remains:

a. Aggregate amount of unrealized losses:

1.	Less than 12 Months	$	164,277
2.	12 Months or Longer	$	44,242,660

b. The aggregate related fair value

of securities with unrealized losses:

1.	Less than 12 Months	$	21,846,360
2.	12 Months or Longer	$	257,039,174

If the fair value of a loan-backed or structured security is less than its amortized cost basis at the balance sheet date, the Company determines whether the impairment is other-than-temporary. Amortized cost basis includes adjustments made to the cost of an investment for accretion, amortization, collection of cash and previous OTTI recognized as a realized loss.
The general categories of information that the Company considers in reaching the conclusion that an impairment is other-than-temporary are as follows:
Intent to Sell - if the Company intends to sell the loan-backed or structured security (that is, it has decided to sell the security), an OTTI is considered to have occurred.
Intent and Ability to Hold - if the Company does not intend to sell the loan-backed or structured security, the Company determines whether it has the intent and ability to retain the investment in the security for a period of time sufficient to recover the amortized cost basis. If the Company does not have the intent and ability to retain the investment for the time sufficient to recover the amortized cost basis, an OTTI shall be considered to have occurred.
Recovery of the Amortized Cost Basis - if the Company does not expect to recover the entire amortized cost basis of the security, the Company would be unable to assert that it will recover its amortized cost basis even if it does not intend to sell the security and the entity has the intent and ability to hold. Therefore, in those situations, an OTTI shall be considered to have occurred. In assessing whether the entire amortized cost basis of the security will be recovered, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If present value of cash flows expected to be

7. 1

STATEMENT AS OF JUNE 30, 2024 OF THE ReliaStar Life Insurance Company of New York

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

collected is less than the amortized cost basis of the security, the entire amortized cost basis of the security will not be recovered (that is, a non-interest related decline exists), and an OTTI shall be considered to have occurred.

The Company conducts a thorough quarterly review of all loan-backed and structured security holdings to conclude if the amortized cost basis of those securities is recoverable. This review is documented at a detailed level and encompasses numerous factors and assumptions. The overall credit tracking process yields a variety of key data that supports the impairment decision making process. The review process and related assumptions are updated quarterly based on trends in the marketplace.

As part of the quarterly review, the Company identifies securities whose ratio of credit enhancement to serious delinquency does not exhibit ample protection against principal loss. Those securities are put through a more detailed analysis which covers, among other factors, (a) an analysis of the underlying collateral characteristics;

a review of the historical performance of the collateral in the deal; (c) structural analysis of the security; and

cash flow scenario analysis.

The prospective adjustment method is used to determine the amortized cost for the majority of loan-backed and structured securities as well as securities that have experienced an OTTI. For certain securities, including Agency-backed securities, the retrospective adjustment method is used to determine amortize cost.

The market values for loan-backed and structured securities are obtained as follows:

1. For securities that are considered marketable - market values are received from third party pricing services or by obtaining a bid price from brokerage firms engaged in the business of trading those securities.
2. For securities that were privately placed and for which no ready market exists - the Company establishes fair market values using a matrix pricing system which considers key factors such as credit quality, industry sector, size of the issuer and transaction structure. A limited portion of the private placement portfolio is priced independently of the matrix system as described above.
Dollar Repurchase Agreements and/or Securities Lending Transactions
1. Collateral Received

		Fair Value
b) The fair value of that collateral and of the portion	$	42,327,773
of that collateral that it has sold or repledged

Repurchase Agreements Transactions Accounted for as Secured Borrowing None
Reverse Repurchase Agreements Transactions Accounted for as Secured Borrowing None
Repurchase Agreements Transactions Accounted for as a Sale None
Reverse Repurchase Agreements Transactions Accounted for as a Sale

None

Working Capital Finance Investments None
Offsetting and Netting of Assets and Liabilities None

1. Reporting Entity's Share of Cash Pool by Asset type None
Joint Ventures, Partnerships and Limited Liability CompaniesNo significant change
Investment Income

No significant change

7. 2

STATEMENT AS OF JUNE 30, 2024 OF THE ReliaStar Life Insurance Company of New York

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

Derivative Instruments
1. Derivatives under SSAP No. 86-Derivatives
  (8) None
2. Derivatives under SSAP No.108-Derivatives Hedging Variable Annuity Guarantees None
Income Taxes

No significant change

10. Information Concerning Parent, Subsidiaries and Affiliates B. Transactions

On March 8, 2024, the Company declared an ordinary dividend in the amount of $21,000,000, which was paid to its sole shareholder, ReliaStar Life Insurance Company ("RLI") on March 25, 2024.

D. Amounts Due To/From Related Parties

As of March 31, 2024, the Company had a $30,254,215 outstanding receivable from RLI, which was paid as part of the intercompany settlement process, on May 30, 2024.

As of June 30, 2024, the Company had $39,017,680 outstanding receivable including principle and interest from Voya Financial, Inc. and no outstanding payable under reciprocal loan agreement between the Company and Voya Financial, Inc.

Debt
1. FHLB (Federal Home Loan Bank) Agreements None
Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated Absences and Other Postretirement Benefit Plans
1. Defined Benefit Plan None
Capital and Surplus, Shareholders' Dividend Restrictions and Quasi-ReorganizationsD. Dividends Paid
On March 8, 2024, the Company declared an ordinary dividend in the amount of $21,000,000, which was paid to its sole shareholder, RLI, on March 25, 2024.
Liabilities, Contingencies, and Assessments

No significant change

Leases
No significant change
Information About Financial Instruments With Off-Balance Sheet Risk and Financial Instruments With Concentrations of Credit Risk
No significant change
Sale, Transfer and Servicing of Financial Assets and Extinguishments of LiabilitiesNone
Gain or Loss to the Reporting Entity from Uninsured Plans and the Uninsured Portion of Partially Insured PlansNone
Direct Premium Written/Produced by Managing General Agents/Third Party AdministratorsNo significant change

7. 3

Attachments

Disclaimer

Voya Financial Inc. published this content on 12 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2024 14:47:09 UTC.