BALANCE SHEETS - USD ($)
$ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
| ASSETS: |
|
|
| Fixed maturities available for sale, at fair value (amortized cost $1,099 and $898) |
$ 1,109
|
$ 906
|
| Mortgage loans on real estate |
17
|
0
|
| Policy loans |
176
|
159
|
| Other invested assets |
75
|
89
|
| Total investments |
1,377
|
1,154
|
| Cash and cash equivalents |
138
|
176
|
| Amounts due from reinsurers |
1,260
|
1,299
|
| Deferred policy acquisition costs |
374
|
364
|
| Value of business acquired |
0
|
9
|
| Deferred cost of reinsurance |
57
|
63
|
| Current and deferred income tax receivables |
27
|
1
|
| Other assets |
22
|
15
|
| Separate Accounts’ assets |
1,747
|
1,701
|
| Total Assets |
5,002
|
4,782
|
| LIABILITIES |
|
|
| Policyholders’ account balances |
2,403
|
2,158
|
| Future policy benefits and other policyholders liabilities |
351
|
389
|
| Other liabilities |
78
|
60
|
| Separate Accounts’ liabilities |
1,747
|
1,701
|
| Total liabilities |
4,579
|
4,308
|
| Commitments and contingent liabilities (Notes 2, 5, 7, 8, and 11) |
|
|
| SHAREHOLDER’S EQUITY |
|
|
| Common stock, $1.00 par value, 5.0 million shares authorized, 2.5 million issued and outstanding |
2
|
2
|
| Capital in excess of par value |
323
|
320
|
| Retained earnings |
91
|
147
|
| Accumulated other comprehensive income (loss) |
7
|
5
|
| Total shareholder's equity |
423
|
474
|
| Total Liabilities and Shareholder’s Equity |
$ 5,002
|
$ 4,782
|