Statistical Compilation · 2015-07-15 · issues, including antifraud, product ﬁ ling requirements, producer licensing and market analysis. NAIC Activities NAIC member directories,

Statistical Compilation

of Annual Statement Information for Life/Health Insurance Companies in 2014

Statistical Compilation of Annual Statement Information

for Life/Health Insurance Companies in 2014

2015

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Statistical Compilation of Annual Statement Information for Life/Health Insurance Companies in 2014

TABLE OF CONTENTS

2014 Report Page INTRODUCTION....................................................................................................................................... 1 Report Format ............................................................................................................................................... 1 Aggregation of Data ...................................................................................................................................... 1 Crosschecks and Balances ............................................................................................................................ 2 Prior Year Data ............................................................................................................................................. 2 Qualifications ................................................................................................................................................ 2 ANNUAL STATEMENT FINANCIAL DATA ........................................................................................ 3 2014 Annual Statement Page 2014 Report Page 2 Aggregate Assets 2014 .................................................................................................................... 5 Graph—2014 Distribution of Assets ............................................................................................... 7 2 Aggregate Assets 2013 .................................................................................................................... 9 2 Aggregate Assets 2012 .................................................................................................................. 10 2 Aggregate Assets 2011 .................................................................................................................. 11 2 Aggregate Assets 2010 .................................................................................................................. 12 3 Aggregate Liabilities, Surplus and Other Funds 2014................................................................... 13 3 Aggregate Liabilities, Surplus and Other Funds 2013................................................................... 14 3 Aggregate Liabilities, Surplus and Other Funds 2012................................................................... 15 3 Aggregate Liabilities, Surplus and Other Funds 2011................................................................... 16 3 Aggregate Liabilities, Surplus and Other Funds 2010................................................................... 17 4 Aggregate Summary of Operations 2014 ...................................................................................... 18 4 Aggregate Summary of Operations 2013 ...................................................................................... 19 4 Aggregate Summary of Operations 2012 ...................................................................................... 20 4 Aggregate Summary of Operations 2011 ...................................................................................... 21 4 Aggregate Summary of Operations 2010 ...................................................................................... 22 Graphs—2005-2014 Assets; 2005-2014 Capital and Surplus; 2005-2014 Net Income ................ 23 6 Aggregate Analysis of Operations by Lines of Business .............................................................. 25 Table—Aggregate Analysis of Operations by Lines of Business Historical 2005-2014 .............. 26 7 Aggregate Analysis of Increase in Reserves .................................................................................. 27 8 Aggregate Exhibit of Net Investment Income ............................................................................... 28 8 Aggregate Exhibit of Capital Gains (Losses) ................................................................................ 28 9 Aggregate Exhibit 1-Part 1 – Premiums and Annuity Considerations for Life and Accident and Health Contracts ....................................................................................................... 29 10 Aggregate Exhibit 1-Part 2 – Dividends and Coupons Applied, Reinsurance Commissions

and Expenses .................................................................................................................... 30 11 Aggregate Exhibit 2 – General Expenses ..................................................................................... 31 11 Aggregate Exhibit 3 – Taxes, Licenses and Fees (Excluding Federal Income Taxes) ................. 31 11 Aggregate Exhibit 4 – Dividends or Refunds ................................................................................ 31 14 Aggregate Exhibit 6 – Aggregate Reserves for Accident and Health Contracts ........................... 32 15 Aggregate Exhibit 7 – Deposit-Type Contracts ............................................................................. 33 16 Aggregate Exhibit 8 – Claims for Life and Accident and Health Contracts – Part 1 – Liability End of Current Year ............................................................................. 34

© 2015 National Association of Insurance Commissioners

2014 Annual Statement Page 2014 Report Page 17 Aggregate Exhibit 8 – Claims for Life and Accident and Health Contracts – Part 2 – Incurred During the Year .................................................................................... 35 18 Aggregate Exhibit of Nonadmitted Assets ................................................................................... 36 Table—Historical Premium Volume 2005-2014 .......................................................................... 37 SI01 Aggregate Summary Investment Schedule .................................................................................. 38 25 Aggregate Exhibit of Life Insurance ............................................................................................ 39 26 Aggregate Exhibit of Life Insurance (Continued) ....................................................................... 40 27 Aggregate Exhibit of Number of Policies, Contracts, Certificates, Income Payable and Account Values in Force for Supplementary Contracts, Annuities, Accident & Health and Other Policies ........................................................... 41 SI04 Aggregate Schedule D – Long-Term Bonds and Stocks Owned (Summary by Country) ............ 42 SI05-07 Aggregate Schedule D – Part 1A, Section 1 – Quality and Maturity of All Bonds ..................... 43 Graph—2005-2014 Maturity Distribution of Bonds .................................................................... 47 Graph—2005-2014 Publicly Traded vs. Privately Placed Bonds................................................. 49 SI08-09 Aggregate Schedule D – Part 1A, Section 2 – Maturity Distribution of All Bonds ..................... 51 37 Aggregate Schedule H – Accident and Health Exhibit ............................................................... 53 38 Aggregate Schedule H – Part 2 – Accident and Health Exhibit; Reserves and Liabilities .......... 54 38 Aggregate Schedule H – Part 3 – Accident and Health Exhibit; Test of Prior Year’s Claim Reserves and Liabilities ......................................................................................... 54 38 Aggregate Schedule H – Part 4 – Accident and Health Exhibit; Reinsurance ............................. 54 39 Aggregate Schedule H – Part 5 – Accident and Health Exhibit; Health Claims .......................... 55 47 Aggregate Schedule S – Part 6 – Five-Year Exhibit of Reinsurance Ceded Business ................. 56 22 Aggregate Five – Year Historical Data ......................................................................................... 57 Technical Notes .......................................................................................................................................... 58 STATE AND COUNTRYWIDE INSURANCE DATA ......................................................................... 59

2014 Annual Statement Page 2014 Report Page 49 Schedule T – Exhibit of Premiums Written .................................................................................. 61 50 Schedule T – Part 2 – Interstate Compact Products – Exhibit of Premiums Written ................... 62 Supp31 Medicare Part D Coverage Supplement........................................................................................ 63 Graph—2014 Direct Written Premium Volume by State ............................................................. 65 Graph—2005-2014 Total Direct Written Premiums & Deposit-Type Contracts ......................... 67 24 Life Insurance (State Page) By Line – Total (All U.S. States and Territories, Canada, Aggregate Other Alien) .................................... 69 24 Life Insurance (State Page) By Line – Alabama .......................................................................... 70 24 Life Insurance (State Page) By Line – Alaska .............................................................................. 71 24 Life Insurance (State Page) By Line – Arizona ............................................................................ 72 24 Life Insurance (State Page) By Line – Arkansas .......................................................................... 73 24 Life Insurance (State Page) By Line – California ........................................................................ 74 24 Life Insurance (State Page) By Line – Colorado .......................................................................... 75 24 Life Insurance (State Page) By Line – Connecticut ..................................................................... 76 24 Life Insurance (State Page) By Line – Delaware ......................................................................... 77 24 Life Insurance (State Page) By Line – District of Columbia ........................................................ 78 24 Life Insurance (State Page) By Line – Florida ............................................................................. 79 24 Life Insurance (State Page) By Line – Georgia ............................................................................ 80 24 Life Insurance (State Page) By Line – Hawaii ............................................................................. 81


STATE AND COUNTRYWIDE INSURANCE DATA (Continued) 2014 Annual Statement Page 2014 Report Page 24 Life Insurance (State Page) By Line – Idaho ................................................................................. 82 24 Life Insurance (State Page) By Line – Illinois .............................................................................. 83 24 Life Insurance (State Page) By Line – Indiana .............................................................................. 84 24 Life Insurance (State Page) By Line – Iowa .................................................................................. 85 24 Life Insurance (State Page) By Line – Kansas .............................................................................. 86 24 Life Insurance (State Page) By Line – Kentucky .......................................................................... 87 24 Life Insurance (State Page) By Line – Louisiana .......................................................................... 88 24 Life Insurance (State Page) By Line – Maine ............................................................................... 89 24 Life Insurance (State Page) By Line – Maryland .......................................................................... 90 24 Life Insurance (State Page) By Line – Massachusetts................................................................... 91 24 Life Insurance (State Page) By Line – Michigan .......................................................................... 92 24 Life Insurance (State Page) By Line – Minnesota ......................................................................... 93 24 Life Insurance (State Page) By Line – Mississippi ....................................................................... 94 24 Life Insurance (State Page) By Line – Missouri ........................................................................... 95 24 Life Insurance (State Page) By Line – Montana ........................................................................... 96 24 Life Insurance (State Page) By Line – Nebraska ........................................................................... 97 24 Life Insurance (State Page) By Line – Nevada .............................................................................. 98 24 Life Insurance (State Page) By Line – New Hampshire ................................................................ 99 24 Life Insurance (State Page) By Line – New Jersey ..................................................................... 100 24 Life Insurance (State Page) By Line – New Mexico ................................................................... 101 24 Life Insurance (State Page) By Line – New York ....................................................................... 102 24 Life Insurance (State Page) By Line – North Carolina ................................................................ 103 24 Life Insurance (State Page) By Line – North Dakota .................................................................. 104 24 Life Insurance (State Page) By Line – Ohio ................................................................................ 105 24 Life Insurance (State Page) By Line – Oklahoma ....................................................................... 106 24 Life Insurance (State Page) By Line – Oregon ............................................................................ 107 24 Life Insurance (State Page) By Line – Pennsylvania .................................................................. 108 24 Life Insurance (State Page) By Line – Rhode Island ................................................................... 109 24 Life Insurance (State Page) By Line – South Carolina ................................................................ 110 24 Life Insurance (State Page) By Line – South Dakota .................................................................. 111 24 Life Insurance (State Page) By Line – Tennessee ....................................................................... 112 24 Life Insurance (State Page) By Line – Texas .............................................................................. 113 24 Life Insurance (State Page) By Line – Utah ................................................................................ 114 24 Life Insurance (State Page) By Line – Vermont.......................................................................... 115 24 Life Insurance (State Page) By Line – Virginia .......................................................................... 116 24 Life Insurance (State Page) By Line – Washington .................................................................... 117 24 Life Insurance (State Page) By Line – West Virginia ................................................................. 118 24 Life Insurance (State Page) By Line – Wisconsin ....................................................................... 119 24 Life Insurance (State Page) By Line – Wyoming ........................................................................ 120 24 Life Insurance (State Page) By Line – American Samoa ............................................................ 121 24 Life Insurance (State Page) By Line – Guam .............................................................................. 122 24 Life Insurance (State Page) By Line – Northern Mariana Islands ............................................... 123 24 Life Insurance (State Page) By Line – Puerto Rico ..................................................................... 124 24 Life Insurance (State Page) By Line – U.S. Virgin Islands ......................................................... 125 24 Life Insurance (State Page) By Line – Canada ............................................................................ 126 24 Life Insurance (State Page) By Line – Aggregate Other Alien ................................................... 127 Technical Notes ........................................................................................................................................ 128


2014 Annual Statement Page 2014 Report Page SELECTED DATA ELEMENTS FROM COMPANY STATEMENTS .......................................... 129 How to Locate Companies and Groups .................................................................................................... 131 Individual Company Data ......................................................................................................................... 132

• NAIC Company Code • Company Name • State of Domicile • Total Assets • Capital and Surplus • Direct Premium and Annuity Considerations • Net Premium and Annuity Considerations • Net Investment Income • Total Income • Total Benefits, Endowments, Conversions and Payments • Direct and Assumed Commissions • General Insurance Expenses • Insurance Taxes, Licenses and Fees • Dividends to Policyholders • Federal and Foreign Taxes Incurred • Net Gain from Operations • Net Realized Capital Gains • Net Income • Total Amount of Insurance

Technical Notes ........................................................................................................................................ 186 INDEX OF COMPANIES ...................................................................................................................... 187 WORKERS’ COMPENSATION SUPPLEMENT .............................................................................. 211 Supp 21 Underwriting and Investment Exhibit Part 1 – Premiums Earned ........................................................................................................ 213 Part 2 – Premiums Written ....................................................................................................... 213 Part 3 – Losses Paid and Incurred ............................................................................................ 213 Part 4 – Unpaid Losses Paid and Loss Adjustment Expenses .................................................. 213 Supp 23 Schedule P – Part 1 .................................................................................................................... 214 Supp 24 Schedule P – Part 2 .................................................................................................................... 215 Supp 24 Schedule P – Part 3 .................................................................................................................... 215 Supp 25 Schedule P – Part 4 .................................................................................................................... 216 Supp 25 Schedule P – Part 5 – Section 1 ................................................................................................. 216 Supp 25 Schedule P – Part 5 – Section 2 ................................................................................................. 216 Supp 25 Schedule P – Part 5 – Section 3 ................................................................................................. 216 Supp 26 Schedule P – Part 6 – Section 1 ................................................................................................. 217 Supp 26 Schedule P – Part 6 – Section 2 ................................................................................................. 217 INDEX OF COMPANIES FILING 2014 WORKERS’ COMPENSATION SUPPLEMENT ........ 218


INTRODUCTION This Statistical Compilation of Annual Statement Information for Life/Health Insurance Companies in 2014 has been created to fill a need for industrywide totals from the NAIC annual statement databases. These data, by being readily available as a reference, will satisfy a wide range of needs and uses.

Report Format This report contains four major sections:

Annual Statement Financial Data • The first section consists of aggregate countrywide financial data, presented in annual

statement format for Assets, Liabilities, Summary of Operations, Analysis of Operations by Line of Business, Analysis of Increase in Reserves During the Year, Exhibits 1–8, Exhibit of Nonadmitted Assets, Summary Investment Schedule, Exhibit of Life Insurance, Exhibit of Number of Policies, Contracts, Certificates, Schedule D, Schedule H, Schedule S, and Five-Year Historical Data.

State and Countrywide Insurance Data • The second section consists primarily of 2014 direct insurance data from Schedule T

and the state page (annual statement, p. 24). Direct life insurance premiums, annuity considerations, deposit-type funds, dividends to policyholders, and claims and benefits paid are shown by line of insurance by state. Direct accident and health insurance premiums, dividends paid, and losses paid and incurred are also shown by line of business and by state.

Selected Data Elements from Company Statements • The third section consists of selected 2014 data elements from company annual

statements. The annual statement sources for these data are listed in the technical notes. An index is available to facilitate locating companies that are included in a group.

Workers’ Compensation Supplement • The fourth section consists of the 2014 Workers’ Compensation Supplement from

company annual statements. An index is available that lists companies used in compiling the aggregated data.

This compilation is aggregated from company life/health annual statements filed with the NAIC. Accident and health data are not included from companies filing property/casualty, fraternal, or health annual statements. Comments on this report are encouraged so that the report will continue to evolve to meet the needs of NAIC members and other users. These data are maintained in NAIC databases and are available for additional application development.

Aggregation of Data This report utilizes the term “aggregated” to describe data developed by summing the annual statements of individual companies.


1

Crosschecks and Balances Aggregated data are developed from the annual statements of 762 individual companies. The level of precision that is possible with an individual company statement is not possible with industry aggregated data. The most important difference is that a significant number of company annual statements are added to and deleted from the NAIC annual statement database each year. Therefore, the ending capital and surplus for the prior year cannot and should not equal the beginning capital and surplus for the current year. Also, while every effort has been made to ensure that all significant errors and omissions in annual statements have been identified and resolved, certain anomalous data do exist. Most anomalies will be identified and resolved prior to publication of the final report. However, in some instances, explanations might be provided by insurance companies, resulting in maintaining the anomalous figures. To minimize anomalous results, certain statement pages might be excluded from this Statistical Compilation. The section displaying selected data elements for individual companies provides a complete listing of companies included in this Statistical Compilation.

Prior Year Data Individual aggregated annual statement pages for Assets, Liabilities and Summary of Operations (annual statement, pp. 2, 3 and 4) from annual statements submitted for years 2010 through 2014 are included in this publication. The aggregated Analysis of Operations by Lines of Business (annual statement, p. 6) contains data from annual statements submitted for years 2005 through 2014.

Qualifications The accuracy of the reports included in this publication depends on the accuracy of the information contained in the annual statements filed by insurers. The NAIC system cannot always identify a misstatement in accordance with statutory requirements or errors in identifying securities. Even though the data elements used to prepare the reports are extracted from annual statements filed with the NAIC, the NAIC cannot guarantee their accuracy. While the NAIC exercises a great deal of care in capturing data from annual statements and producing various reports, as with any statistical project of a significant magnitude, errors can occur. Consequently, the NAIC makes no representations or warranties with respect to the accuracy of the data and statistics in this report.

Please send any questions regarding this report to [email protected]. Links to this report and other NAIC reports can be found on the NAIC website at: NAIC Publications.


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mailto:[email protected]://www.naic.org/prod_serv_statistical.htm#market_share

Annual Statement Financial Data


3


4

LIFE INSURANCE INDUSTRY AGGREGATES

(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets

(Cols 1 - 2)Net Admitted

Assets

Current Year Prior Year

2

Annual Statement Year Percent ofNet Admitted

Assets toTotal Assets

OF THE .....................................................................2014ANNUAL STATEMENT FOR THE YEAR

2014

01. Bonds (Schedule D) 2,694,238,121 301,768 2,693,936,353 2,605,827,78242.37

02. Stocks (Schedule D):

02.1. Preferred stocks 9,192,284 508 9,191,776 8,311,0470.14

02.2. Common stocks 149,445,889 1,679,340 147,766,549 147,255,5412.32

03. Mortgage loans on real estate (Schedule B)

03.1. First liens 368,393,331 2,411 368,390,921 350,053,9885.79

03.2. Other than first liens 4,627,045 6,009 4,621,036 3,087,6350.07

04. Real estate (Schedule A)

04.1. Properties occupied by the company (less encumbrances) 5,495,376 978 5,494,398 5,441,2310.09

04.2. Properties held for the production of income (less encumbrances) 15,988,801 34,577 15,954,225 15,953,2840.25

04.3. Properties held for sale (less encumbrances) 445,188 6,792 438,396 940,3160.01

05. Cash, cash equivalents and short-term investments 100,748,340 17,486 100,730,854 98,383,2451.58

06. Contract loans (including premium notes) 130,240,891 107,029 130,133,863 128,365,7382.05

07. Derivatives (Schedule DB) 56,487,932 0 56,487,932 40,395,1710.89

08. Other invested assets (Schedule BA) 164,631,636 2,316,361 162,315,275 145,961,0012.55

09. Receivables for securities 2,172,099 5,982 2,166,117 3,174,7290.03

10. Securities lending reinvested collateral assets (Schedule DL) 11,155,833 0 11,155,833 13,828,0640.18

11. Aggregate write-ins for invested assets 4,026,572 33,072 3,993,500 1,631,1800.06

12. Subtotals, cash and invested assets (Lines 1 to 11) 3,717,289,339 4,512,312 3,712,777,027 3,568,609,95258.39

13. Title plants less charged off (for Title insurers only) 0 0 0 00.00

14. Investment income due and accrued 36,130,309 22,415 36,107,894 35,223,6360.57

15. Premiums and considerations

15.1. Uncollected prems & agents' balances in the course of collection 14,404,256 793,560 13,610,695 12,861,2050.21

15.2. Deferred premiums, agents' balances and installments booked

but deferred and not yet due 15,525,888 49,331 15,476,557 14,784,1820.24

15.3. Accrued retrospective premiums 306,908 4,049 302,858 254,8730.00

16. Reinsurance

16.1. Amounts recoverable from reinsurers 7,245,321 33,591 7,211,730 6,072,0750.11

16.2. Funds held by or deposited with reinsured companies 44,160,177 0 44,160,177 41,760,7010.69

16.3. Other amounts receivable under reinsurance contracts 9,022,873 43,457 8,979,417 9,070,6170.14

17. Amounts receivable relating to uninsured plans 3,278,009 109,989 3,168,020 1,883,0710.05

18.1. Current federal & foreign income tax recoverable & interest thereon 6,058,525 853,374 5,205,151 5,670,8670.08

18.2. Net deferred tax asset 74,181,484 38,232,728 35,948,756 34,270,7880.57

19. Guaranty funds receivable or on deposit 984,293 893 983,399 995,2380.02

20. Electronic data processing equipment and software 4,841,668 4,152,162 689,506 679,3440.01

21. Furniture and equipment, including health care delivery assets 1,230,349 1,226,295 4,054 4,1680.00

22. Net adjustment in assets and liabilities due to foreign exchange rates 11,524 0 11,524 160.00

23. Receivables from parent, subsidiaries and affiliates 9,744,602 253,954 9,490,648 6,413,0930.15

24. Health care and other amounts receivable 3,416,486 1,143,525 2,272,960 1,637,2310.04

25. Aggregate write-ins for other than invested assets 48,010,648 9,315,727 38,694,922 37,939,6600.61

26. Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25) 3,995,842,658 60,747,363 3,935,095,296 3,778,130,71661.89

27. From Separate Accounts, Segregated Accounts and

Protected Cell Accounts 2,423,542,466 631 2,423,541,835 2,328,903,14338.11

28. Totals (Lines 26 and 27) 6,419,385,125 60,747,994 6,358,637,131 6,107,033,859100.00


5


6

Bonds42.37%

Stocks2.47%

MortgageLoans5.87%

RealEstate0.34%

All Other Invested Assets7.34%

Other Assets3.50%

Separate Accounts38.11%

AGGREGATED LIFE INSURANCE INDUSTRY 2014Distribution of Net Admitted Assets


7


8


(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2




2013

01. Bonds (Schedule D) 2,605,387,571 330,535 2,605,057,036 2,546,842,12342.77


02.1. Preferred stocks 8,314,737 1,054 8,313,683 7,838,1090.14

02.2. Common stocks 152,382,760 1,614,916 150,767,844 142,549,2992.48


03.1. First liens 350,105,095 2,044 350,103,051 333,315,1695.75






05. Cash , cash equivalents and short-term investments 94,750,965 38,815 94,712,150 106,542,6741.55





10. Securities lending reinvested collateral assets (ScheduleDL) 13,828,146 82 13,828,064 10,828,7810.23

11. Aggregate write-ins for invested assets 1,663,112 31,932 1,631,180 (314,026)0.03









16. Reinsurance







19. Guaranty funds receivable or on deposit 989,277 1,289 987,988 923,4020.02



22. Net adjustment in assets and liabilities due to foreign exchange rates 16 0 16 8,6600.00







Protected Cell Accounts 2,328,917,682 11,658 2,328,906,024 2,053,136,31038.23

28. Totals (Lines 26 and 27) 6,154,166,415 63,115,768 6,091,050,648 5,720,214,483100.00


9


(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2




2012

01. Bonds (Schedule D) 2,547,659,052 346,052 2,547,313,000 2,535,512,73844.54



02.2. Common stocks 143,830,354 1,163,328 142,667,026 139,597,4242.49


03.1. First liens 333,069,652 2,192 333,067,461 321,123,4775.82









07. Derivatives (Schedule DB) 41,580,386 3,799 41,576,588 44,397,0700.73



11. Aggregate write-ins for invested assets (302,197) 32,549 (334,746) (1,081,081)(0.01)









16. Reinsurance










22. Net adjustment in assets and liabilities due to foreign exchange rates 8,660 0 8,660 41,0020.00








28. Totals (Lines 26 and 27) 5,786,404,779 67,089,959 5,719,314,820 5,438,993,757100.00


10


(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2



OF THE ...................................................................2011ANNUAL STATEMENT FOR THE YEAR

2011

01. Bonds (Schedule D) 2,536,655,478 349,433 2,536,306,045 2,425,135,87046.59



02.2. Common stocks 142,909,858 1,156,396 141,753,461 139,133,4522.60


03.1. First liens 321,139,698 17,088 321,122,610 305,233,6575.90



04.1. Properties occupied by the company (less encumbrances) 5,678,259 1,049 5,677,210 5,739,5370.10









11. Aggregate write-ins for invested assets 232,198 31,964 200,234 529,5570.00









16. Reinsurance




17. Amounts receivable relating to uninsured plans 1,995,535 55,003 1,940,532 943,3830.04








24. Health care and other amounts receivable 2,824,250 996,645 1,827,605 1,660,8750.03






28. Totals (Lines 26 and 27) 5,513,773,967 70,438,655 5,443,335,311 5,265,996,913100.00


11


(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2

2010 Annual Statement Year Percent ofNet Admitted


OF THE ......................................................................2010ANNUAL STATEMENT FOR THE YEAR

01. Bonds (Schedule D) 2,426,389,169 473,567 2,425,915,602 2,290,206,09546.05



02.2. Common stocks 140,292,032 1,098,249 139,193,784 128,826,9702.64


03.1. First liens 305,047,557 17,618 305,029,939 312,957,3555.79



04.1. Properties occupied by the company (less encumbrances) 5,742,135 1,773 5,740,362 6,150,8630.11






07. Derivatives 21,575,963 0 21,575,963 18,408,0960.41


10. Securities lending reinvested collateral assets 10,601,968 18,484 10,583,484 611,3100.20

11. Aggregate write-ins for invested assets 579,234 44,192 535,042 2,764,5790.01









16. Reinsurance


16.2. Funds held by or deposited with reinsured companies 19,107,828 1,026 19,106,801 17,535,5140.36


17. Amounts receivable relating to uninsured plans 1,096,788 61,717 1,035,071 706,5890.02



19. Guaranty funds receivable or on deposit 624,604 641 623,963 609,9700.01





24. Health care and other amounts receivable 2,601,636 902,805 1,698,831 1,575,4410.03






28. Totals (Lines 26 and 27) 5,344,353,132 76,833,664 5,267,519,468 4,920,579,740100.00


12


(Name)(000's)

LIABILITIES, SURPLUS AND OTHER FUNDS Current Year Prior Year

3OF THE .....................................................................2014ANNUAL STATEMENT FOR THE YEAR

2014

01. Aggregate reserve for life contracts (Exhibit 5, Line9999999) including in Line 6.3 2,490,520,828 2,399,304,21102. Aggregate reserve for accident and health contracts (Exhibit 7, Line 14, Col.1) 223,486,789 218,826,97303. Liability for deposit-type contracts (Exhibit 7,Line 14, Col. 1) (including Modco reserve) 267,766,143 264,391,10004. Contract claims: 04.1. Life 22,100,037 20,727,185 04.2. Accident and health 20,886,904 20,579,39105. Policyholders' dividends and coupons due and unpaid (12,941) (12,180)06. Provision for policyholders' dividends and coupons payable in following calendar year -- estimated amounts: 06.1. Dividends apportioned for payment (including Modco) 17,408,231 16,826,094 06.2. Dividends not yet apportioned (including Modco) 167,547 166,260 06.3. Coupons and similar benefits (including Modco) 623 64707. Amount provisionally held for deferred dividend policies not included in Line 6 8 908. Premiums and annuity considerations for life and accident and health contracts received in advance less discount; including accident and health premium 12,133,037 13,577,65509. Contract liabilities not included elsewhere 09.1. Surrender values on canceled contracts 143,076 119,877 09.2. Provision for experience rating refunds, including the liability of accident and heal 4,910,973 5,129,227 experience rating refunds of which is for medical loss ratio rebate per the Public Health Service Act 09.3 Other amounts payable on reinsurance, including assumed and ceded 13,974,133 13,765,944 09.4. Interest maintenance reserve 26,478,322 25,961,75710. Commissions to agents due or accrued-life & annuity contracts, A&H and dep-type contract funds 2,447,371 2,331,55511. Commissions and expense allowances payable on reinsurance assumed 1,289,343 1,340,36312. General expenses due or accrued (Exhibit 2, Line 12, Col. 6) 17,393,055 16,429,94413. Transfers to Separate Accounts due or accrued (net) (36,827,541) (36,643,918)14. Taxes, licenses and fees due or accrued, excluding federal income taxes 2,304,397 1,897,90215.1. Current federal and foreign income taxes including on realized capital gains (losses) 4,301,047 5,182,46515.2. Net deferred tax liability 1,604,321 2,249,12016. Unearned investment income 999,073 1,056,44417. Amounts withheld or retained by company as agent or trustee 5,551,921 5,083,48618. Amounts held for agents' account, including agents' credit balances 788,972 778,06319. Remittances and items not allocated 9,145,987 8,695,76820. Net adjustment in assets and liabilities due to foreign exchange rates 424,720 616,54221. Liability for benefits for employees and agents if not included above 6,748,747 5,396,50822. Borrowed money and interest thereon 19,042,984 17,924,09023. Dividends to stockholders declared and unpaid 4,886,182 346,17724. Miscellaneous liabilties: 24.01. Asset valuation reserve (AVR, Line 16, Col. 7) 51,060,093 46,563,169 24.02. Reinsurance in unauthorized and certified ($......) companies 541,280 510,056 24.03. Funds held under reinsurance treaties with unauthorized and certified ($..)reinsurers 89,195,808 85,333,307 24.04. Payable to parent, subsidiaries and affiliates 8,494,483 7,942,803 24.05. Drafts outstanding 572,765 509,270 24.06. Liability for amounts held under uninsured plans 1,122,538 883,255 24.07. Funds held under coinsurance 64,155,852 56,011,342 24.08. Derivatives 32,562,329 34,525,987 24.09. Payable for securities 7,495,599 7,242,849 24.10. Payable for securities lending 49,683,277 53,071,811 24.11. Capital notes and interest thereon 7,500 025. Aggregate write-ins for liabilities 62,761,898 46,904,832

26. Total liabilities excluding Separate Accounts business (Lines 1 to 25) 3,507,717,709 3,371,547,341

27. From Separate Accounts statement 2,421,310,268 2,326,966,27528. Total liabilities (Lines 26 and 27) 5,929,027,977 5,698,513,616

29. Common capital stock 3,126,818 3,090,88930. Preferred capital stock 236,673 236,69031. Aggregate write-ins for other than special surplus funds 5,686,099 5,586,39032. Surplus notes 34,041,796 29,851,03033. Gross paid in and contributed surplus (Page 3, Line 33, Col. 2 plus Page 4, Line 51.1, Col.1) 177,440,604 184,305,02834. Aggregate write-ins for special surplus funds 38,909,040 38,155,42535. Unassigned funds (surplus) 170,638,388 147,752,73636. Less treasury stock, at cost: 36.1. Shares common (value included in Line 29) 412,063 399,737 36.2. Shares preferred (value included in Line 30) 58,201 58,20137. Surplus (Total Lines 31 + 32 + 33 + 34 + 35 - 36) 426,245,663 405,192,671

38. Totals of Lines 29, 30 and 37 (Page 4, Line 55) 429,609,154 408,520,250

39. Totals of Lines 28 and 38 (Page 2, Line 28, Col.3) 6,358,637,132 6,107,033,866


13


(Name)(000's)



2013

01. Aggregate reserve for life contracts (Exhibit 5, Line9999999) including in Line 6.3 2,377,187,179 2,306,924,94302. Aggregate reserve for accident and health contracts (Exhibit 7, Line 14, Col.1) 218,977,714 219,235,45703. Liability for deposit-type contracts (Exhibit 7,Line 14, Col. 1) (including Modco reserve) 264,391,013 270,650,35204. Contract claims: 04.1. Life 20,666,103 20,751,464 04.2. Accident and health 22,264,448 22,025,95105. Policyholders' dividends and coupons due and unpaid (19,576) (94,629)06. Provision for policyholders' dividends and coupons payable in following calendar year -- estimated amounts: 06.1. Dividends apportioned for payment (including Modco) 16,812,388 16,444,143 06.2. Dividends not yet apportioned (including Modco) 166,260 172,927 06.3. Coupons and similar benefits (including Modco) 647 63107. Amount provisionally held for deferred dividend policies not included in Line 6 9 908. Premiums and annuity considerations for life and accident and health contracts received in advance less discount; including accident and health premium 13,667,050 14,143,15309. Contract liabilities not included elsewhere 09.1. Surrender values on canceled contracts 119,872 179,209 09.2. Provision for experience rating refunds, including the liability of accident and heal 5,264,400 5,997,049 experience rating refunds of which is for medical loss ratio rebate per the Public Health Service Act 09.3 Other amounts payable on reinsurance, including assumed and ceded 13,684,986 9,386,929 09.4. Interest maintenance reserve 26,005,398 25,206,15810. Commissions to agents due or accrued-life & annuity contracts, A&H and dep-type contract funds 2,354,097 2,330,72711. Commissions and expense allowances payable on reinsurance assumed 1,288,155 1,171,89412. General expenses due or accrued (Exhibit 2, Line 12, Col. 6) 16,698,154 15,621,35813. Transfers to Separate Accounts due or accrued (net) (36,643,918) (37,154,772)14. Taxes, licenses and fees due or accrued, excluding federal income taxes 1,913,693 2,502,24315.1. Current federal and foreign income taxes including on realized capital gains (losses) 5,193,956 5,962,45415.2. Net deferred tax liability 2,250,117 2,754,75716. Unearned investment income 1,058,951 1,168,19917. Amounts withheld or retained by company as agent or trustee 5,193,273 5,772,32218. Amounts held for agents' account, including agents' credit balances 777,952 730,52919. Remittances and items not allocated 8,725,206 8,390,82020. Net adjustment in assets and liabilities due to foreign exchange rates 616,542 458,41921. Liability for benefits for employees and agents if not included above 5,396,512 5,927,13822. Borrowed money and interest thereon 17,847,894 15,703,42123. Dividends to stockholders declared and unpaid 346,177 387,20624. Miscellaneous liabilties: 24.01. Asset valuation reserve (AVR, Line 16, Col. 7) 46,628,070 43,127,917 24.02. Reinsurance in unauthorized and certified ($......) companies 510,056 483,664 24.03. Funds held under reinsurance treaties with unauthorized and certified ($..)reinsurers 85,357,113 87,743,879 24.04. Payable to parent, subsidiaries and affiliates 7,952,695 6,767,499 24.05. Drafts outstanding 509,270 587,274 24.06. Liability for amounts held under uninsured plans 914,911 860,086 24.07. Funds held under coinsurance 57,192,646 51,862,817 24.08. Derivatives 32,075,145 19,127,252 24.09. Payable for securities 7,242,849 8,599,910 24.10. Payable for securities lending 53,211,594 51,714,651 24.11. Capital notes and interest thereon 0 025. Aggregate write-ins for liabilities 46,422,249 54,180,823







14


(Name)(000's)



2012

01. Aggregate reserve for life contracts (Exhibit 5, Line9999999) including in Line 6.3 2,305,694,518 2,312,832,14002. Aggregate reserve for accident and health contracts (Exhibit 7, Line 14, Col.1) 219,236,246 222,387,59103. Liability for deposit-type contracts (Exhibit 7,Line 14, Col. 1) (including Modco reserve) 270,575,924 266,876,14304. Contract claims: 04.1. Life 20,720,706 20,611,735 04.2. Accident and health 22,103,196 22,473,91605. Policyholders' dividends and coupons due and unpaid (94,675) (45,840)06. Provision for policyholders' dividends and coupons payable in following calendar year -- estimated amounts: 06.1. Dividends apportioned for payment (including Modco) 16,399,535 16,391,076 06.2. Dividends not yet apportioned (including Modco) 172,953 185,862 06.3. Coupons and similar benefits (including Modco) 617 55507. Amount provisionally held for deferred dividend policies not included in Line 6 9 908. Premiums and annuity considerations for life and accident and health contracts received in advance less discount; including accident and health premium 14,148,867 8,512,07809. Contract liabilities not included elsewhere 09.1. Surrender values on canceled contracts 179,209 139,233 09.2. Provision for experience rating refunds, including the liability of accident and heal 5,995,781 5,959,942 experience rating refunds of which is for medical loss ratio rebate per the Public Health Service Act 09.3 Other amounts payable on reinsurance, including assumed and ceded 9,356,892 8,840,742 09.4. Interest maintenance reserve 25,212,642 20,249,48810. Commissions to agents due or accrued-life & annuity contracts, A&H and dep-type contract funds 2,332,257 2,405,53811. Commissions and expense allowances payable on reinsurance assumed 1,182,195 1,150,47312. General expenses due or accrued (Exhibit 2, Line 12, Col. 6) 15,628,505 15,232,07513. Transfers to Separate Accounts due or accrued (net) (37,154,772) (34,764,810)14. Taxes, licenses and fees due or accrued, excluding federal income taxes 2,504,039 2,581,88515.1. Current federal and foreign income taxes including on realized capital gains (losses) 5,961,900 4,601,01815.2. Net deferred tax liability 2,755,432 3,038,87316. Unearned investment income 1,168,290 1,181,91217. Amounts withheld or retained by company as agent or trustee 5,772,767 5,494,35018. Amounts held for agents' account, including agents' credit balances 730,529 741,38819. Remittances and items not allocated 8,261,155 8,021,13720. Net adjustment in assets and liabilities due to foreign exchange rates 458,419 16,19221. Liability for benefits for employees and agents if not included above 5,927,191 6,063,91622. Borrowed money and interest thereon 15,703,421 16,389,38223. Dividends to stockholders declared and unpaid 387,206 917,65824. Miscellaneous liabilties: 24.01. Asset valuation reserve (AVR, Line 16, Col. 7) 43,132,089 37,965,399 24.02. Reinsurance in unauthorized and certified ($......) companies 483,664 675,977 24.03. Funds held under reinsurance treaties with unauthorized and certified ($..)reinsurers 87,742,552 81,592,304 24.04. Payable to parent, subsidiaries and affiliates 6,780,249 7,491,492 24.05. Drafts outstanding 589,306 628,805 24.06. Liability for amounts held under uninsured plans 867,553 1,798,242 24.07. Funds held under coinsurance 51,864,685 41,166,746 24.08. Derivatives 19,127,252 16,751,761 24.09. Payable for securities 8,600,256 7,883,800 24.10. Payable for securities lending 47,811,226 37,597,078 24.11. Capital notes and interest thereon 0 025. Aggregate write-ins for liabilities 58,093,681 55,531,988







15


(Name)(000's)



2011

01. Aggregate reserve for life contracts (Exhibit 5, Line9999999) including in Line 6.3 2,313,672,442 2,190,656,60402. Aggregate reserve for accident and health contracts (Exhibit 7, Line 14, Col.1) 222,321,273 207,127,19603. Liability for deposit-type contracts (Exhibit 7,Line 14, Col. 1) (including Modco reserve) 266,876,143 272,070,77404. Contract claims: 04.1. Life 20,617,949 18,650,890 04.2. Accident and health 22,555,846 22,897,39505. Policyholders' dividends and coupons due and unpaid (45,840) (135,044)06. Provision for policyholders' dividends and coupons payable in following calendar year -- estimated amounts: 06.1. Dividends apportioned for payment (including Modco) 16,391,076 16,460,821 06.2. Dividends not yet apportioned (including Modco) 185,862 215,946 06.3. Coupons and similar benefits (including Modco) 555 70307. Amount provisionally held for deferred dividend policies not included in Line 6 9 1008. Premiums and annuity considerations for life and accident and health contracts received in advance less discount; including accident and health premium 8,512,084 4,955,34809. Contract liabilities not included elsewhere 09.1. Surrender values on canceled contracts 139,233 126,022 09.2. Provision for experience rating refunds, including the liability of accident and heal 6,071,288 5,425,434 experience rating refunds of which is for medical loss ratio rebate per the Public Health Service Act 09.3 Other amounts payable on reinsurance, including assumed and ceded 8,831,176 8,053,904 09.4. Interest maintenance reserve 20,366,425 15,487,29010. Commissions to agents due or accrued-life & annuity contracts, A&H and dep-type contract funds 2,395,807 2,390,45711. Commissions and expense allowances payable on reinsurance assumed 1,149,948 926,45312. General expenses due or accrued (Exhibit 2, Line 12, Col. 6) 15,242,994 14,354,04413. Transfers to Separate Accounts due or accrued (net) (34,764,810) (36,099,569)14. Taxes, licenses and fees due or accrued, excluding federal income taxes 2,582,778 2,185,22715.1. Current federal and foreign income taxes including on realized capital gains (losses) 4,757,745 5,902,13815.2. Net deferred tax liability 3,038,888 1,515,40116. Unearned investment income 1,181,951 1,199,82317. Amounts withheld or retained by company as agent or trustee 5,504,679 4,371,04218. Amounts held for agents' account, including agents' credit balances 743,468 762,90819. Remittances and items not allocated 7,967,388 8,558,61520. Net adjustment in assets and liabilities due to foreign exchange rates 16,192 58,25821. Liability for benefits for employees and agents if not included above 6,063,913 6,288,39522. Borrowed money and interest thereon 16,390,067 15,781,52423. Dividends to stockholders declared and unpaid 917,658 737,20724. Miscellaneous liabilties: 24.01. Asset valuation reserve (AVR, Line 16, Col. 7) 37,937,863 29,969,051 24.02. Reinsurance in unauthorized companies 675,383 981,353 24.03. Funds held under reinsurance treaties with unauthorized reinsurers 81,245,829 84,460,687 24.04. Payable to parent, subsidiaries and affiliates 7,683,552 7,391,422 24.05. Drafts outstanding 628,985 576,008 24.06. Liability for amounts held under uninsured plans 2,005,029 1,696,652 24.07. Funds held under coinsurance 41,514,955 32,447,877 24.08. Derivatives 16,711,306 12,604,280 24.09. Payable for securities 7,867,204 5,323,417 24.10. Payable for securities lending 37,077,953 38,917,438 24.11. Capital notes and interest thereon 0 501,58425. Aggregate write-ins for liabilities 56,199,814 45,567,852







16


(Name)(000's)


3OF THE ......................................................................2010ANNUAL STATEMENT FOR THE YEAR

2010

01. Aggregate reserve for life contracts (Exhibit 5, Line9999999) including in Line 6.3 2,190,411,094 2,112,146,24502. Aggregate reserve for accident and health contracts (Exhibit 7, Line 14, Col.1) 207,148,077 190,097,17003. Liability for deposit-type contracts (Exhibit 7,Line 14, Col. 1) (including Modco reserve) 273,146,037 280,818,10004. Contract claims: 04.1. Life 18,648,475 18,100,844 04.2. Accident and health 23,060,058 23,715,04105. Policyholders' dividends and coupons due and unpaid (137,396) (12,460)06. Provision for policyholders' dividends and coupons payable in following calendar year -- estimated amounts: 06.1. Dividends apportioned for payment (including Modco) 16,462,091 16,544,990 06.2. Dividends not yet apportioned (including Modco) 215,946 232,550 06.3. Coupons and similar benefits (including Modco) 703 75107. Amount provisionally held for deferred dividend policies not included in Line 6 10 1008. Premiums and annuity considerations for life and accident and health contracts received in advance less discount; including accident and health premium 4,960,428 3,670,40509. Contract liabilities not included elsewhere 09.1. Surrender values on canceled contracts 126,022 173,278 09.2. Provision for experience rating refunds 5,428,207 5,130,352 09.3. Other amounts payable on reinsurance including assumed and ceded 8,047,379 7,734,294 09.4. Interest maintenance reserve 15,485,716 10,449,31510. Commissions to agents due or accrued-life & annuity contracts, A&H and dep-type contract funds 2,392,102 2,254,30311. Commissions and expense allowances payable on reinsurance assumed 928,324 2,294,03612. General expenses due or accrued (Exhibit 2, Line 12, Col. 6) 14,262,425 13,713,48813. Transfers to Separate Accounts due or accrued (net) (36,099,569) (34,681,390)14. Taxes, licenses and fees due or accrued, excluding federal income taxes 2,183,521 1,966,82615.1. Current federal and foreign income taxes including on realized capital gains (losses) 5,929,282 5,460,91515.2. Net deferred tax liability 1,515,401 1,175,84116. Unearned investment income 1,198,877 1,274,65617. Amounts withheld or retained by company as agent or trustee 4,373,405 5,185,72318. Amounts held for agents' account, including agents' credit balances 763,287 747,60219. Remittances and items not allocated 8,597,009 8,588,49520. Net adjustment in assets and liabilities due to foreign exchange rates 58,258 554,12921. Liability for benefits for employees and agents if not included above 6,289,109 6,158,47922. Borrowed money and interest thereon 15,773,727 20,699,97823. Dividends to stockholders declared and unpaid 737,207 211,97224. Miscellaneous liabilties: 24.01. Asset valuation reserve (AVR, Line 16, Col. 7) 29,963,373 19,928,146 24.02. Reinsurance in unauthorized companies 981,025 2,232,721 24.03. Funds held under reinsurance treaties with unauthorized reinsurers 84,459,836 81,938,636 24.04. Payable to parent, subsidiaries and affiliates 7,493,617 7,616,240 24.05. Drafts outstanding 577,693 592,634 24.06. Liability for amounts held under uninsured plans 1,699,859 1,713,363 24.07. Funds held under coinsurance 32,424,671 32,860,517 24.08. Derivatives 12,487,656 9,514,173 24.09. Payable for securities 5,323,425 5,269,227 24.10. Payable for securities lending 38,989,814 27,432,776 24.11. Capital notes and interest thereon 501,584 501,58425. Aggregate write-ins for liabilities 45,631,842 48,039,115







17


(000's omitted)

4

Summary of Operations Current Year Prior Year


2014

01. Premiums and annuity considerations for life and accident and health contracts 647,585,349 562,884,32402. Considerations for supplementary contracts with life contingencies 2,794,056 2,497,31103. Net investment income (Exhibit of Net Investment Income, Line 17) 183,565,645 173,510,38104. Amortization of Interest Maintenance Reserve (IMR, Line 5) 3,800,558 3,511,58305. Separate Accounts net gain from operations excluding unrealized gains or losses 752,255 (104,289)06. Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col.1) 17,460,628 20,065,35907. Reserve adjustments on reinsurance ceded (14,987,927) (21,265,550)08. Miscellaneous income: 08.1. Income from fees associated with investment management administration and contract guarantees from Separate Accounts 34,270,975 31,479,764 08.2. Charges and fees for deposit-type contracts 268,061 204,279 08.3. Aggregate write-ins for miscellaneous income 17,206,135 19,309,48209. Totals (Lines 1 to 8.3) 892,715,735 792,092,64410. Death benefits 66,219,370 62,964,96311. Matured endowments (excluding guaranteed annual pure endowments) 352,150 369,30612. Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 8) 69,583,732 66,256,15213. Disability benefits and benefits under accident and health contracts 113,765,758 110,935,14514. Coupons, guaranteed annual pure endowments and similar benefits 19,002 17,23215. Surrender benefits and withdrawals for life contracts 281,615,198 257,561,39916. Group conversions 28,088 52,89317. Interest and adjustments on contract or deposit-type contract funds 7,752,087 8,197,64518. Payments on supplementary contracts with life contingencies 2,237,030 1,986,17519. Increase in aggregate reserves for life and accident and health contracts 105,964,913 76,663,51420. Totals (Lines 10 to 19) 647,537,329 585,004,42421. Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only) (Exhibit 1, Part 2, Line 31, Col. 1) 42,404,620 40,796,96022. Commissions & expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1) 9,963,646 12,464,12423. General insurance expenses (Exhibit 2, Line 10, Col. 1, 2, 3 and 4) 59,040,572 58,518,12224. Insurance taxes, licenses and fees, excluding federal income taxes 9,994,614 8,200,74625. Increase in loading on deferred and uncollected premiums (6,544) 40,39626. Net transfers to or (from) Separate Accounts net of reinsurance (16,464,689) (771,523)27. Aggregate write-ins for deductions 65,834,408 (456,972)28. Totals (Lines 20 to 27) 818,303,762 703,796,27629. Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus Line 28) 74,411,973 88,296,36830. Dividends to policyholders 16,474,297 15,733,67731. Net gains from operations after dividends to policyholders and before federal income taxes (Line 29 minus Line 30) 57,937,676 72,562,69132. Federal and foreign income taxes incurred (excluding tax on capital gains) 9,760,310 8,647,33233. Net gain from operations after dividends to policyholders and federal income taxes and before realized capital gains or (losses) (Line 31 minus Line 32) 48,177,366 63,915,35934. Net realized capital gains or (losses) (excluding gains (losses) transferred to the IMR) (1,303,376) (13,226,283)35. Net income (Line 33 plus Line 34) 46,873,990 50,689,077

CAPITAL AND SURPLUS ACCOUNT36. Capital and surplus, December 31, prior year (Page 3, Line 38, Col.2) 408,520,249 398,311,20137. Net income (Line 35) 46,873,990 50,689,07738. Change in net unrealized capital gains (losses) less capital gains tax of 15,626,527 (1,072,949)39. Change in net unrealized foreign exchange capital gain (loss) (148,634) (612,571)40. Change in net deferred income tax 3,058,741 1,600,29241. Change in nonadmitted assets 5,115,741 (2,947,359)42. Change in liability for reinsurance in unauthorized companies (29,957) (26,405)43. Change in reserve on account of change in valuation basis, (increase) or decrease (1,136,315) (1,433,862)44. Change in asset valuation reserve (4,703,903) (3,724,921)45. Change in treasury stock (Page 3, Line36.1 and 36.2 Col.2 minus Col. 1) (12,326) (2,245)46. Surplus (contributed to) withdrawn from Separate Accounts during period 429,011 375,05047. Other changes in surplus in Separate Accounts statement (230,716) (369,250)48. Change in surplus notes 4,190,184 240,04449. Cumulative effect of changes in accounting principles (27,147) (893,451)50. Capital changes: 50.1. Paid in 101,182 31,671 50.2. Transferred from surplus (Stock Dividend) 3,818 2,485 50.3. Transferred to surplus (1,500) (1,307)51. Surplus adjustments: 51.1. Paid in (2,733,313) (1,187,877) 51.2. Transferred to capital (Stock Dividend) (2,380) 16,310 51.3. Transferred from capital (69,354) (100,895) 51.4. Change in surplus as a result of reinsurance 566,179 (1,306,940)52. Dividends to stockholders (39,049,153) (30,768,738)53. Aggregate write-ins for gains and losses in surplus (6,731,769) 1,702,89154. Net change in capital and surplus for the year (Line 37 through 53) 21,088,904 10,209,04855. Capital and surplus, December 31, current year (Lines 36 + 54) (Page 3, Line 38) 429,609,154 408,520,249

© 2015 National Association of Insurance Commissioners18


(000's omitted)

4

Summary of Operations Current Year Prior Year


2013

01. Premiums and annuity considerations for life and accident and health contracts 580,738,514 642,596,12602. Considerations for supplementary contracts with life contingencies 2,494,760 2,405,97603. Net investment income (Exhibit of Net Investment Income, Line 17) 174,145,287 169,653,42504. Amortization of Interest Maintenance Reserve (IMR, Line 5) 3,519,346 2,981,59605. Separate Accounts net gain from operations excluding unrealized gains or losses (104,289) 2,948,60906. Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col.1) 20,186,634 18,236,01907. Reserve adjustments on reinsurance ceded (21,247,568) (30,763,749)08. Miscellaneous income: 08.1. Income from fees associated with investment management administration and contract guarantees from Separate Accounts 31,425,611 29,516,569 08.2. Charges and fees for deposit-type contracts 204,090 196,753 08.3. Aggregate write-ins for miscellaneous income 19,286,139 17,260,77909. Totals (Lines 1 to 8.3) 810,648,523 855,032,10410. Death benefits 62,577,038 61,749,18611. Matured endowments (excluding guaranteed annual pure endowments) 369,299 416,13612. Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 8) 74,882,585 70,288,53413. Disability benefits and benefits under accident and health contracts 127,678,627 123,521,89714. Coupons, guaranteed annual pure endowments and similar benefits 17,234 17,19115. Surrender benefits and withdrawals for life contracts 248,768,774 245,787,44516. Group conversions 52,893 27,83417. Interest and adjustments on contract or deposit-type contract funds 8,197,554 7,327,96418. Payments on supplementary contracts with life contingencies 1,985,919 1,809,67719. Increase in aggregate reserves for life and accident and health contracts 78,046,574 76,432,93620. Totals (Lines 10 to 19) 602,576,497 587,378,80021. Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only) (Exhibit 1, Part 2, Line 31, Col. 1) 41,233,322 41,586,67422. Commissions & expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1) 12,240,778 11,461,56323. General insurance expenses (Exhibit 2, Line 10, Col. 1, 2, 3 and 4) 60,861,563 59,295,72624. Insurance taxes, licenses and fees, excluding federal income taxes 8,389,152 8,209,65025. Increase in loading on deferred and uncollected premiums 40,241 143,34426. Net transfers to or (from) Separate Accounts net of reinsurance (771,567) 61,550,51227. Aggregate write-ins for deductions (411,316) 6,827,21428. Totals (Lines 20 to 27) 724,158,669 776,453,48329. Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus Line 28) 86,489,853 78,578,62130. Dividends to policyholders 15,704,938 15,256,76331. Net gains from operations after dividends to policyholders and before federal income taxes (Line 29 minus Line 30) 70,784,916 63,321,85832. Federal and foreign income taxes incurred (excluding tax on capital gains) 8,894,575 10,170,21733. Net gain from operations after dividends to policyholders and federal income taxes and before realized capital gains or (losses) (Line 31 minus Line 32) 61,890,341 53,151,64134. Net realized capital gains or (losses) (excluding gains (losses) transferred to the IMR) (12,026,373) (9,444,986)35. Net income (Line 33 plus Line 34) 49,863,968 43,706,655

CAPITAL AND SURPLUS ACCOUNT36. Capital and surplus, December 31, prior year (Page 3, Line 38, Col.2) 401,716,240 379,231,46737. Net income (Line 35) 49,863,968 43,706,65538. Change in net unrealized capital gains (losses) less capital gains tax of 1,538,090 6,439,97239. Change in net unrealized foreign exchange capital gain (loss) (782,516) (1,958,602)40. Change in net deferred income tax 881,326 (571,675)41. Change in nonadmitted assets (955,630) 2,361,09042. Change in liability for reinsurance in unauthorized companies (26,405) 200,85843. Change in reserve on account of change in valuation basis, (increase) or decrease (1,380,126) (642,194)44. Change in asset valuation reserve (3,769,838) (5,155,298)45. Change in treasury stock (Page 3, Line36.1 and 36.2 Col.2 minus Col. 1) (2,245) (10,784)46. Surplus (contributed to) withdrawn from Separate Accounts during period 375,050 5,795,20847. Other changes in surplus in Separate Accounts statement (369,250) (4,128,273)48. Change in surplus notes (120,643) (1,536,026)49. Cumulative effect of changes in accounting principles (893,451) 1,351,70350. Capital changes: 50.1. Paid in 26,268 2,235

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