CNO Financial : First Quarter 2024 Colonial Penn Life Insurance Company

STATEMENT AS OF MARCH 31, 2024 OF THE COLONIAL PENN LIFE INSURANCE COMPANY

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	................752,036,983	...................................	................	752,036,983	................734,191,502
2.	Stocks:
	2.1 Preferred stocks	1,000,000	...................................	...................	1,000,000	...................1,000,000
	2.2 Common stocks	2,077,800	...................................	...................	2,077,800	................... 2,077,800

3. Mortgage loans on real estate:

	3.1 First liens	..................................................................................................	421,962	...................................	421,962	433,529
	3.2 Other than first liens	...................................	...................................	...................................	...................................
4.	Real estate:
	4.1 Properties occupied by the company (less $
	encumbrances)	...................................	...................................	...................................	...................................
	4.2 Properties held for the production of income (less
	$	encumbrances)	...................................	...................................	...................................	...................................
	4.3 Properties held for sale (less $
	.......................................................................................encumbrances)	................... 4,590,287	...................................	................... 4,590,287	................... 4,590,287
5.	Cash ($	32,095,961 ), cash equivalents
	($	31,316,267	) and short-term
	investments ($	)	63,412,228	...................................	63,412,228	67,475,226
6.	Contract loans (including $	................................... premium notes)	21,560,180	162,645	21,397,535	21,258,397
7.	Derivatives		...................................	...................................	...................................	...................................
8.	Other invested assets	19,655,709	277	19,655,432	18,517,240
9.	Receivables for securities	25,916	...................................	25,916	...................................
10.	Securities lending reinvested collateral assets	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	...................................	...................................	...................................	...................................
12.	Subtotals, cash and invested assets (Lines 1 to 11)	864,781,064	162,922	864,618,142	849,543,981
13.	Title plants less $	charged off (for Title insurers
	only)		...................................	...................................	...................................	...................................
14.	Investment income due and accrued	10,218,636	...................................	10,218,636	9,883,852

15. Premiums and considerations:

15.1	Uncollected premiums and agents' balances in the course of collection	1,872,236	297,538	1,574,698	1,714,561
15.2	Deferred premiums, agents' balances and installments booked but
	...................................deferred and not yet due (including $
	earned but unbilled premiums)	68,389,134	...................................	68,389,134	61,135,889
15.3	Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	................................... ................................... ................................... ...................................

16. Reinsurance:

	16.1	Amounts recoverable from reinsurers	........................ 64,892	...................................	........................ 64,892	........................ 64,892
	16.2	Funds held by or deposited with reinsured companies	...................................	...................................	...................................	...................................
	16.3	Other amounts receivable under reinsurance contracts	...................1,169,509	...................................	...................1,169,509	................... 1,865,678
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	....Current federal and foreign income tax recoverable and interest thereon	................... 1,997,773	...................................	................... 1,997,773	...................................
18.2	...................................................................................Net deferred tax asset	................. 82,253,069	................. 67,643,388	................. 14,609,681	................. 12,927,966
19.	Guaranty funds receivable or on deposit	...................1,256,805	...................................	1,256,805	1,293,231
20.	Electronic data processing equipment and software	2,434,071	2,434,071	...................................	...................................

21. Furniture and equipment, including health care delivery assets

	($	)	........................ 42,391	........................ 42,391	...................................	...................................
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	.....................................Receivables from parent, subsidiaries and affiliates	................... 1,588,393	...................................	................... 1,588,393	................... 1,057,857
24.	Health care ($	) and other amounts receivable	................. 30,976,561	................. 30,962,246	........................ 14,315	........................ 49,808
25.	........................................Aggregate write-ins for other than invested assets	...................1,241,429	...................................	...................1,241,429	................... 1,851,972
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	............ 1,068,285,963	............... 101,542,556	................966,743,406	................941,389,688
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	...................................	...................................	...................................	...................................
28.	Total (Lines 26 and 27)		1,068,285,963	101,542,556	966,743,406	941,389,688
	DETAILS OF WRITE-INS
1101.	......................................................................................................................	....................................	....................................	....................................	....................................
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	...................Summary of remaining write-ins for Line 11 from overflow page	...................................	...................................	...................................	...................................
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)
2501.	Transferable state tax credits	.................................................................	...................1,241,429	...................................	...................1,241,429	................... 1,851,972
2502.	.......................................................................................................................	....................................	....................................	....................................	....................................
2503.	.......................................................................................................................	....................................	....................................	....................................	....................................
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	...................................	...................................	...................................	...................................
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	1,241,429		1,241,429	1,851,972

2

STATEMENT AS OF MARCH 31, 2024 OF THE COLONIAL PENN LIFE INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current	December 31
					Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	................682,948,533	less $	included in Line 6.3
	(including $	Modco Reserve)		682,948,533	670,918,616
2.	Aggregate reserve for accident and health contracts (including $	Modco Reserve)	17,788,592	17,428,096
3.	Liability for deposit-type contracts (including $	Modco Reserve)	50,208,522	50,211,695
4.	Contract claims:
	4.1 Life			14,524,967	15,570,755
	4.2 Accident and health			8,841,487	8,299,256
5.	Policyholders' dividends/refunds to members $	and coupons $	due
	and unpaid			...................................	...................................

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 $ ...................................

		Modco)	...................................	...................................
	6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	Modco)	...................................
	6.3	Coupons and similar benefits (including $	Modco)	...................................
7.	Amount provisionally held for deferred dividend policies not included in Line 6	...................................
8.	Premiums and annuity considerations for life and accident and health contracts received in advance less
	$	................................... discount; including $	972,600 accident and health premiums	................... 4,476,722	...................4,690,059

9. Contract liabilities not included elsewhere:

	9.1	Surrender values on canceled contracts					...................................	...................................
	9.2	Provision for experience rating refunds, including the liability of $	...................................	accident and health
		experience rating refunds of which $	is for medical loss ratio rebate per the Public Health
		Service Act						...................................	...................................
	9.3 Other amounts payable on reinsurance, including $	239,534	assumed and $	................. 11,441,870
		ceded					11,681,404	10,486,108
	9.4 Interest Maintenance Reserve				13,978,692	14,297,257
10.	Commissions to agents due or accrued-life and annuity contracts $	.......................	137,500 , accident and health
	$	............................. 648	and deposit-type contract funds $		..................................................		...................... 138,148	...................... 500,801
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed				...................................	...................................
12.	............................................................................................................................................General expenses due or accrued					...................8,218,611	...................6,690,681
13.	Transfers to Separate Accounts due or accrued (net) (including $		accrued for expense
	allowances recognized in reserves, net of reinsured allowances)					...................................	...................................
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes				................... 1,458,790	................... 2,880,343
15.1	Current federal and foreign income taxes, including $		on realized capital gains (losses)		...................................	...................1,026,616
15.2	Net deferred tax liability						...................................	...................................
16.	Unearned investment income					...................................	...................................
17.	.......................................................................................Amounts withheld or retained by reporting entity as agent or trustee					...................... 106,321	........................ 99,978
18.	Amounts held for agents' account, including $	...........................................agents' credit balances		...................................	...................................
19.	........................................................................................................................................Remittances and items not allocated					...................6,266,210	...................6,944,042
20.	Net adjustment in assets and liabilities due to foreign exchange rates	....................................................................................				...................................	...................................
21.	.......................................................................................Liability for benefits for employees and agents if not included above					...................................	...................................
22.	Borrowed money $	and interest thereon $	...................................	...........................................		...................................	...................................
23.	.......................................................................................................................Dividends to stockholders declared and unpaid					...................................	...................................
24.	Miscellaneous liabilities:
	...................................................................................................................................................24.01 Asset valuation reserve					................... 5,932,702	................... 6,007,385
	...................................24.02 Reinsurance in unauthorized and certified ($	.......................................................) companies		...................................	...................................
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	...................................	) reinsurers		...................................	...................................
	24.04 Payable to parent, subsidiaries and affiliates					..........................6,465	................... 1,877,315
	...........................................................................................................................................................24.05 Drafts outstanding						...................................	...................................
	............................................................................................................24.06 Liability for amounts held under uninsured plans					...................................	...................................
	........................................................................................................................................24.07 Funds held under coinsurance					...................................	...................................
	24.08 Derivatives						...................................	...................................
	24.09 Payable for securities						................... 3,000,000	...................................
	.........................................................................................................................................24.10 Payable for securities lending					...................................	...................................
	24.11 Capital notes $	and interest thereon $	...................................	...........................................	...................................	...................................
25.	Aggregate write-ins for liabilities					25,159,694	24,346,289
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)	.....................................................................................				854,735,863	842,275,293
27.	.........................................................................................................................................From Separate Accounts Statement					...................................	...................................
28.	Total liabilities (Lines 26 and 27)					854,735,863	842,275,293
29.	Common capital stock						2,500,000	2,500,000
30.	..............................................................................................................................................................Preferred capital stock						...................................	...................................
31.	..........................................................................................................Aggregate write-ins for other than special surplus funds					...................................	...................................
32.	............................................................................................................................................................................Surplus notes						............... 160,000,000	............... 160,000,000
33.	.......................................................................................................................................Gross paid in and contributed surplus					................462,827,065	................436,077,065
34.	Aggregate write-ins for special surplus funds					...................................	...................................
35.	Unassigned funds (surplus)						..............(513,319,522)	..............(499,462,670)
36.	Less treasury stock, at cost:
	36.1	...................................	shares common (value included in Line 29	$	)
			...................................	...................................
	36.2	...................................	shares preferred (value included in Line 30	$	)
			...................................	...................................
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $		in Separate Accounts Statement)		109,507,543	96,614,395
38.	Totals of Lines 29, 30 and 37					112,007,543	99,114,395
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)						966,743,406	941,389,688
	DETAILS OF WRITE-INS
2501.	.......................................................................................................................................................................Unclaimed funds						................. 25,159,694	................. 24,346,289
2502		....................................	....................................
2503		....................................	....................................
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page					...................................	...................................
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)						25,159,694	24,346,289
3101	....................................	....................................

3102. ................................................................................................................................................................................................... .................................... ....................................

3103. ................................................................................................................................................................................................... .................................... ....................................

3198. Summary of remaining write-ins for Line 31 from overflow page .............................................................................................. ................................... ...................................

3199. Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)

3401. ................................................................................................................................................................................................... .................................... ....................................

3402. ................................................................................................................................................................................................... .................................... ....................................

3403. ................................................................................................................................................................................................... .................................... ....................................

3498. Summary of remaining write-ins for Line 34 from overflow page .............................................................................................. ................................... ...................................

3499. Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)

3

STATEMENT AS OF MARCH 31, 2024 OF THE COLONIAL PENN LIFE INSURANCE COMPANY

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	................134,352,649	................133,281,796	................456,541,970
2.	Considerations for supplementary contracts with life contingencies
...................................	...................................	...................................
3.	Net investment income	................. 10,626,974	................... 9,853,300	................. 27,541,487
4.	Amortization of Interest Maintenance Reserve (IMR)	.......................256,376	...................... 240,238	...................... 966,260
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	...................................	...................................	...................................
6.	Commissions and expense allowances on reinsurance ceded	...................9,248,222	................. 11,173,900	................. 41,549,918
7.	Reserve adjustments on reinsurance ceded	...................................	...................................	...................................
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	...................................	...................................	...................................
	8.2 Charges and fees for deposit-type contracts	...................................	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	12,778	859	65,052
9.	Totals (Lines 1 to 8.3)	154,496,999	154,550,093	526,664,688
10.	Death benefits	47,909,911	................. 45,737,952	................167,948,343
11.	Matured endowments (excluding guaranteed annual pure endowments)	...................... 168,146	...................... 186,406	.......................833,975
12.	Annuity benefits	...................................	...................................	...................................
13.	Disability benefits and benefits under accident and health contracts	................. 15,854,576	................. 16,493,482	................. 65,187,681
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	................... 3,240,649	...................2,824,248	................. 12,091,236
16.	Group conversions	...................................	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	.......................873,749	...................... 726,480	................... 3,138,810
18.	Payments on supplementary contracts with life contingencies	...................................	...................................	...................................
19.	Increase in aggregate reserves for life and accident and health contracts	12,390,413	12,700,800	33,878,687
20.	Totals (Lines 10 to 19)	................. 80,437,446	................. 78,669,368	................283,078,732
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................. 13,588,802	................. 12,009,363	................. 50,934,047
22.	Commissions and expense allowances on reinsurance assumed	.......................267,677	...................... 254,742	...................... 979,616
23.	General insurance expenses and fraternal expenses	................. 54,301,073	................. 61,302,687	................212,729,308
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................... 5,558,374	................... 6,217,370	................. 22,060,033
25.	Increase in loading on deferred and uncollected premiums	................. 12,044,563	................. 13,134,231	................... 5,234,594
26.	Net transfers to or (from) Separate Accounts net of reinsurance	...................................	...................................	...................................
27.	Aggregate write-ins for deductions
28.	Totals (Lines 20 to 27)	166,197,934	171,587,761	575,016,330
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................(11,700,935)	................(17,037,667)	................(48,351,642)
30.	Dividends to policyholders and refunds to members
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................(11,700,935)	................(17,037,667)	................(48,351,642)
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	(3,323,011)	(4,630,875)	(5,439,965)
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)	................. (8,377,924)	................(12,406,792)	................(42,911,677)

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

	gains tax of $	(excluding taxes of $	17,192
	transferred to the IMR)			50	(1,269,960)
35.	Net income (Line 33 plus Line 34)		(8,377,923)	(12,406,743)	(44,181,637)
	CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	99,114,395	90,714,978	90,714,978
37.	Net income (Line 35)		(8,377,923)	(12,406,743)	(44,181,637)
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	(71,329)	(268,332)	(71,274)	(78,174)
39.	Change in net unrealized foreign exchange capital gain (loss)	...................................	...................................	...................................
40.	Change in net deferred income tax		682,997	505,735	5,593,604
41.	Change in nonadmitted assets		................. (5,968,277)	................. (6,216,485)	................. (6,846,274)
42.	.......................................Change in liability for reinsurance in unauthorized and certified companies	...................................	...................................	...................................
43.	..........................Change in reserve on account of change in valuation basis, (increase) or decrease	...................................	...................................	...................................
44.	Change in asset valuation reserve		74,683	(94,539)	661,897
45.	Change in treasury stock		...................................	...................................	...................................
46.	.........................................Surplus (contributed to) withdrawn from Separate Accounts during period	...................................	...................................	...................................
47.	................................................................Other changes in surplus in Separate Accounts Statement	...................................	...................................	...................................
48.	Change in surplus notes		...................................	...................................	...................................
49.	Cumulative effect of changes in accounting principles	...................................	...................................	...................................
50.	Capital changes:
	50.1 Paid in		...................................	...................................	...................................
	..................................................................................50.2 Transferred from surplus (Stock Dividend)	...................................	...................................	...................................
	50.3 Transferred to surplus		...................................	...................................	...................................
51.	Surplus adjustment:
	51.1 Paid in		26,750,000	28,750,000	53,250,000
	........................................................................................51.2 Transferred to capital (Stock Dividend)	...................................	...................................	...................................
	51.3 Transferred from capital		...................................	...................................	...................................
	...............................................................................51.4 Change in surplus as a result of reinsurance	...................................	...................................	...................................
52.	Dividends to stockholders		...................................	...................................	...................................
53.	.............................................................................Aggregate write-ins for gains and losses in surplus
54.	Net change in capital and surplus for the year (Lines 37 through 53)	12,893,148	10,466,695	8,399,417
55.	Capital and surplus, as of statement date (Lines 36 + 54)		112,007,543	101,181,673	99,114,395
	DETAILS OF WRITE-INS
..............................................................08.301. Gain from utilization of transferable state tax credits	........................ 12,667	............................. 656	........................ 64,375
..........................................................................................................................08.302. Miscellaneous income		............................. 111	............................. 203	............................. 677
08.303.	..............................................................................................................................................................		....................................	....................................	....................................
........................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	...................................	...................................	...................................
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)		12,778	859	65,052
2701	....................................	....................................	....................................
2702	....................................	....................................	....................................
2703	....................................	....................................	....................................
2798.	.........................................................Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................	...................................
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)
5301	....................................	....................................	....................................

5302. .............................................................................................................................................................. .................................... .................................... ....................................

5303. .............................................................................................................................................................. .................................... .................................... ....................................

5398. Summary of remaining write-ins for Line 53 from overflow page ............................................................................................ ................................... ...................................

5399. Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)

4

STATEMENT AS OF MARCH 31, 2024 OF THE COLONIAL PENN LIFE INSURANCE COMPANY

CASH FLOW

Cash from Operations

1

Current Year

To Date

2

Prior Year

To Date

3

Prior Year Ended

December 31

1.	Premiums collected net of reinsurance	................114,976,279	................113,272,256	............... 448,022,804
2.	Net investment income	................. 10,180,704	................... 9,467,889	................. 26,898,307
3.	Miscellaneous income	9,957,169	11,335,701	40,866,715
4.	Total (Lines 1 to 3)	135,114,152	134,075,847	515,787,827
5.	Benefit and loss related payments	................. 67,355,294	................. 71,929,521	................251,583,986
6.	Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	...................................	...................................	...................................
7.	...............................................Commissions, expenses paid and aggregate write-ins for deductions	................. 80,661,468	................. 88,123,457	................291,831,440
8.	Dividends paid to policyholders	...................................	...................................	...................................
9.	Federal and foreign income taxes paid (recovered) net of $	17,192 tax on capital
	gains (losses)	(281,431)	(2,380,822)	(7,939,352)
10.	Total (Lines 5 through 9)	147,735,331	157,672,156	535,476,074
11.	Net cash from operations (Line 4 minus Line 10)	(12,621,179)	(23,596,309)	(19,688,247)

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	................... 8,365,579	................. 11,800,493	................. 45,651,169
	12.2	Stocks	...................................	...................................	...................................
	12.3	Mortgage loans	........................ 11,568	........................ 10,893	........................ 44,570
	12.4	Real estate	...................................	...................................	...................................
	12.5	Other invested assets	........................ 25,320	...................................	...................................
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	..........................1,841	............................... 81	.......................(11,134)
	12.7	Miscellaneous proceeds	2,974,084	73,153	1,100,049
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	................. 11,378,392	................. 11,884,620	................. 46,784,654
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	................. 26,144,033	................. 21,680,066	................. 65,022,689
	13.2	Stocks	...................................	...................................	..........................7,200
	13.3	Mortgage loans	...................................	...................................	...................................
	13.4	Real estate	...................................	...................................	...................................
	13.5	Other invested assets	................... 1,505,534	...................................	...................................
	13.6	Miscellaneous applications
	13.7	Total investments acquired (Lines 13.1 to 13.6)	27,649,567	21,680,066	65,029,889
14.	Net increase (or decrease) in contract loans and premium notes	156,351	(15,586)	640,713
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	(16,427,526)	(9,779,860)	(18,885,948)
		Cash from Financing and Miscellaneous Sources
16.	Cash provided (applied):
	16.1	Surplus notes, capital notes	...................................	...................................	...................................
	16.2	Capital and paid in surplus, less treasury stock	................. 26,750,000	................. 28,750,000	................. 53,250,000
	16.3	Borrowed funds	...................................	...................................	...................................
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	........................ (3,174)	........................ 23,349	........................ 38,244
	..........................................................................................................16.5 Dividends to stockholders	...................................	...................................	...................................
	....................................................................................................16.6 Other cash provided (applied)	(1,761,119)	4,495,846	(1,534,001)
17.	Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus Line 16.6)	24,985,707	33,269,194	51,754,243
	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)	................. (4,062,998)	.....................(106,975)	................. 13,180,048
19.	Cash, cash equivalents and short-term investments:
	19.1	Beginning of year	................. 67,475,226	................. 54,295,178	................. 54,295,178
	19.2 End of period (Line 18 plus Line 19.1)	63,412,228	54,188,203	67,475,226

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

5

STATEMENT AS OF MARCH 31, 2024 OF THE COLONIAL PENN LIFE INSURANCE COMPANY

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	................. 86,907,880	................. 83,175,703	................276,752,566
2.	Group life	25,697,210	................. 26,557,859	................. 92,619,275
3.	Individual annuities	...................................	...................................	...................................
4.	Group annuities	...................................	...................................	...................................
5.	Accident & health	104,367,919	112,341,437	417,208,530
6.	Fraternal	...................................	...................................	...................................
7.	Other lines of business	...................................	...................................	...................................
8.	Subtotal (Lines 1 through 7)	216,973,008	222,074,999	786,580,371
9.	Deposit-type contracts	...................................	................. 15,000,000	................. 40,000,000
10.	Total (Lines 8 and 9)	216,973,008	237,074,999	826,580,371

6

#$$$#" $ #%" (

$#$#$$$#

7<-	-;+:18<176	)/-
	/JBB6GND;/>;>86CI88DJCI>C<,DA>8>:H6C9#D>C
	88DJCI>C<=6C<:H6C9DGG:8I>DCHD;!GGDGH
	JH>C:HHDB7>C6I>DCH6C9#DD9L>AA
	>H8DCI>CJ:9+E:G6I>DCH
	%CK:HIB:CIH
	&D>CI2:CIJG:H,6GIC:GH=>EH6C9(>B>I:9(>67>A>INDBE6C>:H
	%CK:HIB:CI%C8DB:
	:G>K6I>K:%CHIGJB:CIH
	%C8DB:06M:H
	%C;DGB6I>DCDC8:GC>C<,6G:CI/J7H>9>6G>:H;;>A>6I:H6C9+I=:G.:A6I:9,6GI>:H
	:7I
	.:I>G:B:CI,A6CH :;:GG:9DBE:CH6I>DC,DHI:BEADNB:CI:C:;>IH6C9DBE:CH6I:97H:C8:H
	C9+I=:G,DHIG:I>G:B:CI:C:;>I,A6CH
	6E>I6A6C9/JGEAJH/=6G:=DA9:GHR >K>9:C9.:HIG>8I>DCH6C9-J6H>.:DG<6C>O6I>DCH
	(>67>A>I>:HDCI>C<:C8>:H6C9HH:HHB:CIH
	(:6H:H
	%C;DGB6I>DC7DJI">C6C8>6A%CHIGJB:CIH3>I=+;;6A6C8:/=::I.>H@6C9">C6C8>6A%CHIGJB:CIH
	3>I=DC8:CIG6I>DCHD;G:9>I.>H@
	/6A:0G6CH;:G6C9/:GK>8>CC6C8>6AHH:IH6C9!MI>CH=B:CIHD;(>67>A>I>:H
	#6>CDG(DHHIDI=:.:EDGI>CIN;GDB1C>CHJG:9,A6CH6C9I=:1C>CHJG:9,DGI>DCD;,6GI>6AAN
	%CHJG:9,A6CH
	>G:8I,G:B>JB3G>II:C,GD9J8:97N)6C6<>C<#:C:G6A<:CIH0=>G9,6GIN9B>C>HIG6IDGH
	"6>G26AJ:):6HJG:B:CIH
	+I=:G%I:BH
	!K:CIH/J7H:FJ:CI
	.:>CHJG6C8:
	.:IGDHE:8I>K:AN.6I:9DCIG68IHDCIG68IH/J7?:8IID.:9:I:GB>C6I>DC
	=6C<:>C%C8JGG:9(DHH:H6C9(DHH9?JHIB:CI!ME:CH:H
	%CI:G8DBE6CN,DDA>C
	/IGJ8IJG:9/:IIA:B:CIH
	$:6AI=6G:.:8:>K67A:H
	,6GI>8>E6I>C<,DA>8>:H
	,G:B>JB :;>8>:C8N.:H:GK:H
	.:H:GK:H;DG(>;:DCIG68IH6C9CCJ>INDCIG68IH
	C6ANH>HD;CCJ>IN8IJ6G>6A.:H:GK:H6C9 :EDH>I0NE:(>67>A>I>:H7N3>I=9G6L6A=6G68I:G>HI>8H
	C6ANH>HD;(>;:8IJ6G>6A.:H:GK:H7N3>I=9G6L6A=6G68I:G>HI>8H
	,G:B>JB6C9CCJ>INDCH>9:G6I>DCH :;:GG:96C91C8DAA:8I:9
	/:E6G6I:88DJCIH
	(DHHA6>B9?JHIB:CI!ME:CH:H

#$$$#" $ #%" (

$#$#$$$#

#=55):A7.#1/61.1+)6<++7=6<16/ 741+1-;)6,716/76+-:6

88DJCI>C<,G68I>8:H

0=:;>C6C8>6AHI6I:B:CIHD;DADC>6A,:CC(>;:%CHJG6C8:DBE6CNSDBE6CNT 6G:EG:H:CI:9DCI=:76H>HD; 688DJCI>C8:HEG:H8G>7:9DGE:GB>II:97NI=:,:CCHNAK6C>6%CHJG6C8: :E6GIB:CI :E6GIB:CI

0=: :E6GIB:CIG:8DO:HDCANHI6IJIDGN688DJCI>C8:HEG:H8G>7:9DGE:GB>II:97NI=:DBBDCL:6AI=D; ,:CCHNAK6C>6;DGG:EDGI>CC6C8>6A8DC9>I>DC6C9G:HJAIHD;DE:G6I>DCHD;6C>CHJG6C8:8DBE6CN6C99:I:GB>C>C< >IHHDAK:C8NJC9:G,:CCHNAK6C>6%CHJG6C8:(6L0=: B6CJ6AS*%/,T =6H7::C69DEI:96H68DBEDC:CID;EG:H8G>7:9DGE:GB>II:9EG68I>8:H7NI=:DBBDCL:6AI=D;,:CCHNAK6C>6 $DL:K:GI=:DBBDCL:6AI=D;,:CCHNAK6C>6B6N69DEI8:GI6>CEG:H8G>7:9688DJCI>C8:HI=6I9>;;:G;GDB I=DH:;DJC9>C*%/,%C699>I>DCI=: :E6GIB:CI=6HI=:G><=IIDE:GB>IDI=:GHE:8>;>8EG68I>8:HI=6I9:K>6I: ;GDBEG:H8G>7:9EG68I>8:H$DL:K:GI=:DBE6CN=6HCDHJ8=E:GB>II:9EG68I>8:H

G:8DC8>A>6I>DCD;I=:DBE6CNRHC:I>C8DB:6C986E>I6A6C9HJGEAJH7:IL::C*%/,6C9EG68I>8:HEG:H8G>7:9

6C9E:GB>II:97NI=:/I6I:D;,:CCHNAK6C>6>HH=DLC7:ADL

		//,	"/	"/
			,6<:	(>C:
*!0%*+)!
	DADC>6A,:CC(>;:%CHJG6C8:DBE6CN/I6I:D;	444	444	444
	,:CCHNAK6C>676H>H,6<:(>C:DAJBCH
	*%/,/I6I:,G:H8G>7:9,G68I>8:HI=6I>C8G:6H:9:8G:6H:
	*DC:	*	*	*		Q	Q
	/,/I6I:,:GB>II:9,G68I>8:HI=6I>C8G:6H:9:8G:6H: *%
	*DC:	*	*	*		Q	Q
	*%/,	444	444	444
/1.,(1/
	DADC>6A,:CC(>;:%CHJG6C8:DBE6CN/I6I:D;	444	444	444
	,:CCHNAK6C>676H>H,6<:(>C:DAJBCH
	*%/,/I6I:,G:H8G>7:9,G68I>8:HI=6I>C8G:6H:9:8G:6H:
	*DC:	*	*	*		Q	Q
	/,/I6I:,:GB>II:9,G68I>8:HI=6I>C8G:6H:9:8G:6H: *%
	*DC:	*	*	*		Q	Q
	*%/,	444	444	444

*DH>;>86CI8=6C<:H

DC9HCDI768@:97NDI=:GAD6CH6G:HI6I:96I6BDGI>O:98DHIJH>CCI:G:HIB:I=D9L>I=I=:;DAADL>C<

:M8:EI>DCH> I=DH:8DCI6>C>C<86AAEGDK>H>DCH:M8:EISB6@:L=DA:T86AAEGDK>H>DCH6G:6BDGI>O:9JH>C:A9IDLDGHIB:I=D9>> I=DH:G6I:9*%8A6HHL=>8=6G:HI6I:96II=:ADL:GD;6BDGI>O:98DHIDG;6>GK6AJ: 6C9>>> E:GE:IJ6A7DC9HI=6I9DCDIEDHH:HHDGCDADC<:GEDHH:HH6C:;;:8I>K:86AADEI>DCL=>8=6G:G:EDGI:96I ;6>GK6AJ:G:<6G9A:HHD;*%9:H>DC0=:DBE6CN9D:HCDIJI>A>O:I=:HNHI:B6I>8K6AJ:B:6HJG:B:CI B:I=D9;DG/2+%9:CI>;>:9>CK:HIB:CIH

(D6C768@:97DC9HHIGJ8IJG:9H:8JG>I>:H6C97:C:;>8>6A>CI:G:HIH6G:HI6I:96I6BDGI>O:98DHIJH>CCI:G:HI

B:I=D9:M8:EI;DGI=DH:G6I:9*%8A6HHL=>8=6G:HI6I:96II=:ADL:GD;6BDGI>O:98DHIDG;6>GK6AJ:"DG

H:8JG>I>:HL=:G:8DAA:8I>DCD;6AA8DCIG68IJ6A86H=;ADLH>HEGD767A:8=6C<:H>C8JGG:CIAN:HI>B6I:986H=;ADLH

>C8AJ9>CDCH6G:688DJCI:9;DGJH>CK:B:I=D9"DGH:8JG>I>:H

I=6I6G:CDID;=><=8G:9>IFJ6A>IN;DGL=>8=8DAA:8I>DCD;6AA8DCIG68IJ6A86H=;ADLH>HCDIEGD767A:H>;>86CI

>C8G:6H:H>C86H=;ADL:HI>B6I:H6G:688DJCI:9;DGJH>CK:B:I=D9

*DDI=:GH>;>86CI8=6C<:H

#D>C 0=:DBE6CNHB6C6<:B:CI9D:HCDI=6K:HJ7HI6CI>6A9DJ7I67DJI>IH67>A>INID8DCI>CJ:6H6C<8DC8:GC

++7=6<16/0)6/-;)6,7::-+<176;7.::7:;

*DC:

=;16-;;75*16)<176;)6,77,?144

*DC:

1;+76<16=-,8-:)<176;

*DC:

#$$$#" $ #%" (

$#$#$$$#

6>-;<5-6<;

*DH>;>86CI8=6C<:H

*DC:

(D6C768@:9/:8JG>I>:H

,G:E6NB:CI6HHJBEI>DCH;DGAD6C768@:97DC9H6C9HIGJ8IJG:9H:8JG>I>:H6G:D7I6>C:9;GDBI=>G9E6GINK:C9DGH 6C9>CI:GC6A:HI>B6I:H0=:H:6HHJBEI>DCH6G:G:K>:L:9;DG8DCH>HI:C8NL>I=I=:8JGG:CI>CI:G:HIG6I:6C9 :8DCDB>8:CK>GDCB:CI

0=:DBE6CN9>9CDIG:8DG96CNDI=:GI=6CI:BEDG6GN>BE6>GB:CIHS+00%T 9JG>CH:9(D6C768@:96C9/IGJ8IJG:9/:8JG>I>:HS//,.T G:HJAI>C<;GDB:>I=:G6C>CI:CIIDH:AADGI=:>C67>A>INDGA68@D;>CI:CIIDG:I6>CI=:>CK:HIB:CI;DG6E:G>D9D; I>B:HJ;;>8>:CIIDG:8DK:GI=:6BDGI>O:98DHI76H>H

0=:DBE6CN9>9CDIG:8DO:6CN+00%6HD;)6G8=6H6G:HJAID;6C:ME:8I:9H=DGI6<:D; 9>H8DJCI:9;JIJG:86H=;ADLHIDG:8DK:GI=:6BDGI>O:98DHID;I=:H:8JG>INDC8JGG:CIAN=:A9AD6C768@:9 7DC9HHIGJ8IJG:9H:8JG>I>:H6C97:C:;>8>6A>CI:G:HIH (D6C768@:97DC9HHIGJ8IJG:9H:8JG>I>:H6C97:C:;>8>6A>CI:G:HIHDLC:96I)6G8=I=6I=6K:CDI7::C >BE6>G:9L>I=6;6>GK6AJ:ADL:GI=6C6BDGI>O:98DHI6G:HJBB6G>O:97:ADL7NA:CB:I=6I>C9>K>9J6A H:8JG>I>:H=6K:7::C>C68DCI>CJDJHADHHEDH>I>DC6 0=:6

(:HHI=6C)DCI=H

)DCI=HDG(DC<:G

7 0=:6I>:HL>I=JCG:6A>O:9ADHH:H

	(:HHI=6C)DCI=H
	)DCI=HDG(DC<:G

0=:DBE6CNG:IH>CK:HIB:CIHL>I=JCG:6A>O:9ADHH:H;DGEDHH>7A:>BE6>GB:CI0=: DBE6CNRH6HH:HHB:CID;L=:I=:GJCG:6A>O:9ADHH:H6G:SDI=:GI=6CI:BEDG6GNTG:FJ>G:HH>;>86CI?J99:G:9>C8AJ9:> I=::MI:CIIDL=>8=;6>GK6AJ:>HA:HHI=6CI=:8DHI76H>H>> I=:A:CB: I=6II=:;6>GK6AJ:=6H7::CA:HHI=6C8DHI>>> L=:I=:GI=:JCG:6A>O:9ADHH>H:K:CI9G>K:C8G:9>I9G>K:CDG6 G:HJAID;8=6C<:H>CB6G@:I>CI:G:HIG6I:HDGG>H@EG:B>JB>K I=:C:6GI:GBEGDHE:8IH;DGHE:8>;>8:K:CIH 9:K:ADEB:CIHDG8>G8JBHI6C8:HA>@:ANID6;;:8II=:K6AJ:D;I=:>CK:HIB:CIK I=:>CK:HIB:CIRHG6I>C<6C9 L=:I=:GI=:>CK:HIB:CI>H>CK:HIB:CI<>C8:>IHEJG8=6H:K> L=:I=:GI=: >HHJ:G>H8JGG:CIDC6AAE6NB:CIH>C688DG96C8:L>I=I=:8DCIG68IJ6AI:GBHD;I=:>CK:HIB:CI6C9>H:ME:8I:9ID B::I6AAD;>IHD7A><6I>DCHJC9:GI=:I:GBHD;I=:>CK:HIB:CIK>> L=:I=:GDGCDII=:DBE6CN>CI:C9HIDG:I6>C I=:>CK:HIB:CIJCI>A>IH6CI>8>E6I:9G:8DK:GND88JGHK>>> L=:I=:G>I>HBDG:A>@:ANI=6CCDII=6I8>G8JBHI6C8:H L>AAG:FJ>G:I=:DBE6CNIDH:AAI=:>CK:HIB:CI7:;DG:G:8DK:GND88JGH>M I=:JC9:GAN>C<8JGG:CI6C9 EGDHE:8I>K:6HH:I6C9:CI:GEG>H:K6AJ:HD;I=:>HHJ:G6C9I=::MI:CIIDL=>8=I=:G:8DK:G67>A>IND;I=:86GGN>C< K6AJ:D;I=:DBE6CNH>CK:HIB:CIB6N7:6;;:8I:97N8=6C<:H>CHJ8=K6AJ:HM EGD?:8I>DCHD;6C9 JC;6KDG67A:8=6C<:H>C86H=;ADLHDCHIGJ8IJG:9H:8JG>I>:H>C8AJ9>CI>:HM> I=:DBE6CNH7:HI:HI>B6I:D;I=:K6AJ:D;6CN8DAA6I:G6A6C9M>> DI=:GD7?:8I>K:6C9 HJ7?:8I>K:;68IDGH

!%

*DC:

&(

*DH>;>86CI8=6C<:H

),

*DC: - *DH>;>86CI8=6C<:H

. .:EDGI>CINRH/=6G:D;6H=,DDA7NHH:I0NE: 0=:DBE6CN9>9CDI=6K:6H=6G:>C6CN86H=EDDAH6HD;)6G8=

716<&-6<=:-;):<6-:;018;)6,151<-,1)*141<> *DH>;>86CI8=6C<:H

#$$$#" $ #%" (

$#$#$$$#

6>-;<5-6<6+75-

*DH>;>86CI8=6C<:H

-:1>)<1>-6;<:=5-6<;

*DC:

6+75-$)@-;

*DH>;>86CI8=6C<:H

6.7:5)<17676+-:616/):-6<#=*;1,1):1-;..141)<-;)6,<0-:"-4)<-,):<1-;

+C)6G8=I=:DBE6CNG:8:>K:96HJGEAJH8DCIG>7JI>DCD;>C86H=;GDB>IHHDA:H=6G:=DA9:G

DCH:8D(>;:%CHJG6C8:DBE6CND;0:M6H

+

*DH>;>86CI8=6C<:H

-*<

*DC:

":9:G6A$DB:(D6C6C@S"$(T <>

":9:G6A$DB:(D6C6C@D;,>IIH7JG<=S"$(,T

0=:DBE6CN>H6B:B7:GD;I=:"$(,H6B:B7:GD;I=:"$(,I=:DBE6CN=6HI=:67>A>INID7DGGDL DC68DAA6I:G6A>O:976H>H;GDB"$(,0=:DBE6CNJH:HI=:H:69K6C8:HL=>8=I6@:I=:;DGBD;>CHJG6C8: 8DCIG68IHHIGJ8IJG:96H;JC9>C<6C8G:B:CI6A>C8DB:>C6C>CK:HIB:CIHEG:69HIG6I:C<86E68>INJC9:GI=>H6C:97N6JI=DG>O6I>DC D;I=:DBE6CNRH7D6G9D;9>G:8IDGH0=:DBE6CN>HG:FJ>G:9ID=DA98:GI6>CB>C>BJB6BDJCIHD;"$(, 8DBBDCHID8@6H68DC9>I>DCD;B:B7:GH=>E>CI=:"$(,6C9699>I>DC6A6BDJCIH76H:9DCI=:6BDJCID; 7DGGDL>C

AA"$(68I>K>IN>H>C8AJ9:9>CI=:DBE6CNRH#:C:G6A88DJCI

"$(6E>I6A/ID8@

6 <<>

				0DI6A			#:C:G6A			/:E6G6I:
							88DJCI			88DJCIH
	JGG:CI5:6G
	6	):B7:GH=>E/ID8@A6HH		Q		Q		Q
	7	):B7:GH=>E/ID8@A6HH						Q
	8	99>I>DC6A8I>K>IN/ID8@						Q
	9	!M8:HH/ID8@		Q			Q			Q
	:	<						Q
	;	8IJ6ADG!HI>B6I:9DGGDL>C<6E68>IN6H					4444444			4444444
		:I:GB>C:97NI=:%CHJG:G
	,G>DG5:6G:C9
	6	):B7:GH=>E/ID8@A6HH		Q		Q		Q
	7	):B7:GH=>E/ID8@A6HH						Q
	8	99>I>DC6A8I>K>IN/ID8@						Q
	9	!M8:HH/ID8@		Q			Q			Q
	:	<						Q
	;	8IJ6ADG!HI>B6I:9DGGDL>C<6E68>IN6H					4444444			4444444
		:I:GB>C:97NI=:%CHJG:G

7 ):B7:GH=>E/ID8@:A><>7>A>IN;DGG:9:BEI>DC6HD;)6G8=>H6H;DAADLH

!A><>7A:;DG.:9:BEI>DC

JGG:CI5:6G

*DI!A><>7A:

(:HH0=6C

)DCI=H

ID(:HH

ID

):B7:GH=>E/ID8@

0DI6A

;DG

ID(:HH0=6C

I=6C

.:9:BEI>DC

)DCI=H

5:6G

5:6GH

5:6GH

A6HH

Q

Q

Q

Q

Q

Q

A6HH

Q

Q

Q

Q