REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | File No. 333-137202 |
Pre-Effective Amendment No. | □ |
Post-Effective Amendment No. 21 | ☑ |
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | File No. 811-08301 |
Amendment No. 229 | ☑ |
Telephone: | 1-877-351-8808 (TDD: 1-800-238-3035) |
Facsimile: | 1-855-677-2357 |
Internet: | www.nationwide.com |
U.S. Mail: | Nationwide
Life Insurance Company Nationwide Business Solutions Group One Nationwide Plaza, 1-11-401 Columbus, OH 43215-2220 |
The policy is NOT: insured by the Federal Deposit Insurance Corporation; a bank deposit; available in every state; or insured or endorsed by a bank or any federal government agency. |
The policy may decrease in value to the point of being valueless because of poor Investment Experience. |
Nationwide offers a variety of variable universal life policies. Despite offering substantially similar features and investment options, certain policies may have lower overall charges than others including the policy described herein. These differences in charges may be attributable to differences in sales and related expenses incurred in one distribution channel versus another. |
Page | |
|
6 |
|
8 |
|
9 |
|
14 |
|
14 |
|
15 |
|
16 |
|
16 |
|
17 |
|
17 |
|
18 |
|
19 |
|
20 |
|
20 |
|
21 |
|
21 |
|
22 |
|
23 |
|
23 |
|
23 |
|
24 |
|
24 |
|
25 |
|
26 |
|
26 |
|
26 |
|
26 |
|
27 |
|
28 |
|
29 |
|
30 |
|
31 |
|
32 |
|
32 |
|
32 |
|
32 |
|
33 |
|
34 |
|
34 |
|
35 |
|
39 |
|
39 |
|
39 |
|
39 |
|
39 |
|
40 |
|
40 |
|
40 |
|
41 |
|
41 |
|
41 |
|
41 |
|
41 |
|
41 |
|
42 |
|
42 |
|
42 |
Page | |
|
43 |
|
43 |
|
44 |
|
45 |
|
45 |
|
45 |
|
46 |
|
46 |
|
46 |
|
47 |
|
53 |
|
53 |
|
53 |
|
53 |
|
54 |
|
54 |
|
55 |
|
55 |
|
55 |
|
55 |
|
56 |
|
70 |
|
72 |
• | change the death benefit option; |
• | increase or decrease the Base Policy Specified Amount and/or Rider Specified Amount; |
• | change beneficiaries; and |
• | change ownership of the policy. |
• | take a policy loan, see Policy Loans. |
• | take a partial surrender, see Partial Surrender. |
• | surrender the policy for its Cash Surrender Value at any time while the policy is In Force, see Full Surrender. |
• | Change of Insured Rider (no charge) |
• | Supplemental Insurance Rider |
• | Policy Component A has a Premium Load that declines each year over the first five policy years and a Deferred Premium Load that is based on Premium paid in the first policy year and is charged in policy years two through five. |
• | Policy Component B has a Premium Load that declines over the first five policy years. No Deferred Premium Load applies under this policy component. |
• | Policy Component C has a current Premium Load that is lower than the Premium Load on Policy Components A and B, and declines over a shorter, four year, period. No Deferred Premium Load applies. |
• | Policy Component D has no Premium Load or Deferred Premium Load, and higher aggregate current monthly charges when compared to Policy Components A, B and C. |
Transaction Fees | |||||
Charge | When Charge is Deducted | Amount Deducted By Policy Component (A, B, C, and D) | |||
Premium Load1 | Upon making a Premium payment | A | B | C | D |
Target Premium | |||||
Maximum | 10% | 10% | 10% | 10% | |
Current | 10% | 10% | 8% | 0% | |
Excess Premium | |||||
Maximum | 10% | 10% | 10% | 10% | |
Current | 2% | 2% | 2% | 0% | |
Illustration Charge2 | Upon requesting an illustration | ||||
Maximum | $25 (flat fee applies regardless of policy component configurations) | ||||
Current | $0 (flat fee applies regardless of policy component configurations) |
1 | The Premium Load will vary according to the amount of annual Target Premium and Excess Premium and the blending of the policy component configuration selected. |
The maximum premium load applied to all policy components as a percentage of each Premium (whether Target Premium or Excess Premium) declines on the following schedule: | |
Policy Year | 1 | 2 through 5 | 6 and thereafter | |||
Premium
Load |
10% | 8% | 5% |
Policy Year | Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
1 |
10% | 10% | 8% | 0% | ||||
2 |
8% | 8% | 6% | 0% | ||||
3 |
6% | 6% | 4% | 0% | ||||
4 |
4% | 4% | 2% | 0% | ||||
5 |
2% | 2% | 2% | 0% | ||||
6 and
thereafter |
2% | 2% | 2% | 0% |
Policy Year | Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
1 |
2% | 2% | 2% | 0% | ||||
2 –
5 |
2% | 2% | 2% | 0% | ||||
6 and
thereafter |
2% | 2% | 2% | 0% |
2 | The policy owner will be expected to pay the Illustration Charge at the time of the request. This charge will not be deducted from Cash Value. |
Periodic Charges | |||||
Charge | When Charge is Deducted | Amount Deducted From Cash Value (deductions are separated by Policy Component A, B, C, and D where applicable) | |||
Deferred Premium Load1 | On the anniversary of the Policy Date in policy years two through five | A | B | C | D |
Target Premium | |||||
Maximum | 2% | 2% | 2% | 2% | |
Current | 2% | 0% | 0% | 0% | |
Excess Premium | |||||
Maximum | 2% | 2% | 2% | 2% | |
Current | 0.5% | 0% | 0% | 0% | |
Base Policy Cost of Insurance Charge2† | Monthly | A | B | C | D |
Maximum | $83.33 per $1,000 of Net Amount At Risk | $83.33 per $1,000 of Net Amount At Risk | $83.33 per $1,000 of Net Amount At Risk | $83.33 per $1,000 of Net Amount At Risk | |
Minimum | $0.03 per $1,000 of Net Amount At Risk | $0.03 per $1,000 of Net Amount At Risk | $0.03 per $1,000 of Net Amount At Risk | $0.03 per $1,000 of Net Amount At Risk | |
Representative:
an individual Insured, Issue Age 40, non-tobacco, policy year 10, Death Benefit Option 1, issued on a short-form, non-medical basis. Representative Cost by Policy Component Net Amount At Risk3 |
$0.24 | $0.21 | $0.22 | $0.24 |
Periodic Charges | |||||
Charge | When Charge is Deducted | Amount Deducted From Cash Value (deductions are separated by Policy Component A, B, C, and D where applicable) | |||
Supplemental Insurance Rider Cost of Insurance Charge4† | Monthly | A | B | C | D |
Maximum | $83.33 per $1,000 of Rider Net Amount at Risk | $83.33 per $1,000 of Rider Net Amount at Risk | $83.33 per $1,000 of Rider Net Amount at Risk | $83.33 per $1,000 of Rider Net Amount at Risk | |
Minimum | $0.02 per $1,000 of Rider Net Amount at Risk | $0.02 per $1,000 of Rider Net Amount at Risk | $0.02 per $1,000 of Rider Net Amount at Risk | $0.02 per $1,000 of Rider Net Amount at Risk | |
Representative:
an individual Insured, Issue Age 40, non-tobacco, policy year 10, issued on a short-form, non-medical basis. Representative Cost by Policy Component Net Amount at Risk5 |
$0.16 | $0.15 | $0.15 | $0.10 | |
Flat Extra Charge6 | Monthly | Maximum
$2.08 per $1,000 of Net Amount at Risk for each Flat Extra assessed | |||
Base Policy Sub-Account Asset Charge7 | Monthly, based on an annual rate | A | B | C | D |
Maximum | 1.25% | 1.25% | 1.25% | 1.25% | |
Current | 0.30% | 0.25% | 0.25% | 0.60% | |
Supplemental Insurance Rider Sub-Account Asset Charge8 | Monthly, based on an annual rate | A | B | C | D |
Maximum | 1.25% | 1.25% | 1.25% | 1.25% | |
Current | 0.20% | 0.16% | 0.16% | 0.30% | |
Base Policy Specified Amount Charge9 | Monthly | ||||
Maximum | $0.40 per $1,000 of Base Policy Specified Amount | ||||
Current | $0.08 per $1,000 of Base Policy Specified Amount | ||||
Supplemental Insurance Rider Specified Amount Charge10 | Monthly | ||||
Maximum | $0.40 per $1,000 of Rider Specified Amount | ||||
Current | $0.02 per $1,000 of Rider Specified Amount |
Periodic Charges | |||||
Charge | When Charge is Deducted | Amount Deducted From Cash Value (deductions are separated by Policy Component A, B, C, and D where applicable) | |||
Administrative Charge | Monthly | ||||
Maximum | $10 per policy | ||||
Current | $5 per policy | ||||
Policy Loan Interest Charge11 | Annually, or on an increase or repayment of the loan | ||||
Maximum | 3.50% of Indebtedness | ||||
Current | 2.80% of Indebtedness |
† | This charge will vary based upon the individual characteristics of the Insured. Representative charges shown in the table may not be representative of the charge that a particular policy owner will pay. Policy owners can request an illustration of specific costs and/or see the Policy Data Pages for information about specific charges of the policy. |
1 | The Deferred Premium Load (maximum and current) will vary according to the amount of aggregate Premium paid in policy year one, the amount of term insurance coverage purchased via the Supplemental Insurance Rider, and the policy component configurations selected. Each policy component has a different deferred premium load assessed on each Premium payment in accordance with the following tables. The ultimate Deferred Premium Load will depend on the policy component configuration and whether Premium paid is Target Premium or Excess Premium. |
Policy Year | Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
1 |
0% | 0% | 0% | 0% | ||||
2-5
|
2% | 0% | 0% | 0% | ||||
6 and
thereafter |
0% | 0% | 0% | 0% |
Policy Year | Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
1 |
0% | 0% | 0% | 0% | ||||
2-5
|
0.5% | 0% | 0% | 0% | ||||
6 and
thereafter |
0% | 0% | 0% | 0% |
2 | The Cost of Insurance Charge varies according to the Insured's age, sex (if not unisex classified), tobacco use, Substandard Ratings, underwriting class, the number of years from the Policy Date, the Base Policy Specified Amount, whether coverage has been elected under the Supplemental Insurance Rider, and the elected policy component configurations. The Cost of Insurance maximum charge calculation does not include substandard rated policies. For substandard rated policies, the maximum charge is $125.00 per $1,000 of Net Amount at Risk. |
3 | The representative for the Base Policy Cost of Insurance Charge shown is for policies with applications dated on or after September 30, 2008. The representative for policies with applications dated prior to September 30, 2008, is as follows: Policy Component A is $0.33; Policy Component B is $0.31; Policy Component C is $0.32; and Policy Component D is $0.30. |
4 | The Supplemental Insurance Rider Cost of Insurance maximum charge calculation does not include substandard rated policies. For substandard rated policies, the maximum charge is $125.00 per $1,000 of Net Amount at Risk. |
5 | The representative for the Supplemental Insurance Rider Cost of Insurance Charge shown is for policies with applications dated on or after September 30, 2008. The representative for policies with applications dated prior to September 30, 2008, is as follows: Policy Component A is $0.20; Policy Component B is $0.24; Policy Component C is $0.24; and Policy Component D is $0.15. |
6 | The Flat Extra Charge is only applicable if certain factors result in an Insured having a Substandard Rating. Under no circumstance will the assessment of a Flat Extra Charge result in the Cost of Insurance Charge exceeding the maximum Cost of Insurance Charge, see Cost of Insurance. |
7 | The Sub-Account Asset Charge is based on assets allocated to the Sub-Accounts and is deducted only from the Sub-Account allocations. The maximum guaranteed annual rate for this charge is 1.25%, but ultimate charges assessed may be higher or lower because the charge is taken monthly rather than annually. Values in the table are listed at the annual rate. Maximum guaranteed annual and monthly rates are shown on the Policy Data Pages. See Sub-Account Asset Charges for a detailed table of annual rate charges. |
8 | The Supplemental Insurance Rider Sub-Account Asset Charge varies according to the ratio of the Cash Value to the maximum annual Premium allowed under the Code assuming that: (i) the policy is not a modified endowment contract; (ii) the policy's death benefit is equal to the Total Specified Amount; and (iii) seven level, annual Premiums are paid; (iv) there are no premiums resulting from a Section 1035 exchange; and (v) there are no adjustments due to a state imposed requirement or to substandard underwriting ratings. The Supplemental Insurance Rider Sub-Account Asset Charge is deducted only from the Sub-Account allocations. The current charges shown here are the highest amounts currently charged, see Supplemental Insurance Rider. |
9 | The current Base Policy Specified Amount Charge shown is for policies with applications dated on or after September 30, 2008. For policies with applications dated prior to September 30, 2008, the current charge is $0.30 per $1,000 of Base Policy Specified Amount. |
For all policies, in policy years 21 and later, the Base Policy Specified Amount Charge per $1,000 is reduced to $0.01 per $1,000 of Base Policy Specified Amount. For policies with applications dated prior to September 30, 2008, with a Total Specified Amount in excess of $50,000, the current charge applied to amounts attributable to Base Policy Specified Amount per $1,000 for such excess amounts is $0.09 for policy years one through 20 and $0.01 for policy years 21 and later. | |
10 | The current Supplemental Insurance Rider Specified Amount Charge shown is for policies with applications dated on or after September 30, 2008. For policies with applications dated prior to September 30, 2008, the current charge is $0.05 per $1,000 of Rider Specified Amount. |
For all policies, policy years 21 and later, the Supplemental Insurance Rider Specified Amount Charge per $1,000 is reduced to $0.01 per $1,000 of Rider Specified Amount. For policies with applications dated prior to September 30, 2008, with a Total Specified Amount in excess of $50,000, the current charge applied per $1,000 for such excess amounts is $0.01 for all policy years. | |
11 | The Policy Loan Interest Charge is described in more detail in Policy Loans. |
Total Annual Mutual Fund Operating Expenses | |||||
Minimum | Maximum | ||||
Total
Annual Mutual Fund Operating Expenses (expenses that are deducted from the mutual fund assets, including management fees, distribution (12b-1) fees, and other expenses) |
0.27% | 1.92% |
(1) | trading on the NYSE is restricted; |
(2) | an emergency exists making disposal or valuation of securities held in the separate account impracticable; or |
(3) | the SEC, by order, permits a suspension or postponement for the protection of security holders. |
(a) | is the sum of: |
• | the NAV per share of the mutual fund held in the Sub-Account as of the end of the current Valuation Period; and |
• | the per share amount of any dividend or income distributions made by the mutual fund held in the Sub-Account (if the date of the dividend or income distribution occurs during the current Valuation Period); plus or minus |
• | a per share charge or credit for any taxes reserved for as a result of the Sub-Account's investment operations if changes to the law result in a modification to the tax treatment of the separate account; and |
(b) | is the NAV per share of the mutual fund held in the Sub-Account determined as of the end of the immediately preceding Valuation Period. |
• | the dilution of the value of the investors' interests in the mutual fund; |
• | mutual fund managers taking actions that negatively impact performance (i.e., keeping a larger portion of the mutual fund assets in cash or liquidating investments prematurely in order to support redemption requests); and/or |
• | increased administrative costs due to frequent purchases and redemptions. |
(1) | request the taxpayer identification number, international taxpayer identification number, or other government issued identifier of any policy owner; |
(2) | request the amounts and dates of any purchase, redemption, transfer, or exchange request ("transaction information"); and |
(3) | instruct Nationwide to restrict or prohibit further purchases or exchanges by policy owners that violate policies established by the underlying mutual fund (whose policies may be more restrictive than Nationwide’s policies). |
• | by telephone at 1-877-351-8808 (TDD: 1-800-238-3035) |
• | by mail to Nationwide Life Insurance Company, Nationwide Business Solutions Group, One Nationwide Plaza (1-11-401), Columbus, Ohio 43215-2220 |
• | by fax at 1-855-677-2357 |
• | by Internet at www.nationwide.com. |
• | changing the policy owner, contingent owner, and beneficiary; |
• | assigning, exchanging, and/or converting the policy; |
• | requesting transfers, policy loans, and partial surrenders or a complete surrender; and |
• | changing insurance coverage such as death benefit option changes, adding or removing Riders, and/or increasing or decreasing the Total Specified Amount. |
• | the date Nationwide certifies that the complete application materials have been submitted and the underwriting conditions have been satisfied; |
• | the Policy Date; or |
• | the date the initial Premium is received at the Service Center. |
• | the date the insurance carrier of the exchanged policy authorizes payment of such policy's proceeds to Nationwide; or |
• | the date Nationwide certifies that the complete application materials have been submitted and the underwriting conditions have been satisfied, provided there is sufficient Premium to pay policy charges for at least three months. |
• | Nationwide may require satisfactory evidence of insurability before accepting any additional Premium payment that results in an increase in the policy's Net Amount At Risk. |
• | Nationwide will refund Premium payments that exceed the applicable premium limit established by the Code to qualify the policy as a contract for life insurance. |
• | Nationwide will monitor Premiums paid and will notify policy owners when the policy is in jeopardy of becoming a modified endowment contract, see Taxes. |
• | Nationwide may require that policy Indebtedness be repaid before accepting any additional Premium payments. |
(1) | Accumulation Unit values resulting from the Net Premium allocated to the Fixed Account; |
(2) | amounts held in the Policy Loan Account; and |
(3) | Accumulation Unit values resulting from Net Premium allocated to the Sub-Accounts. |
(1) | Sub-Account Asset Charge; plus |
(2) | Administrative Charge; plus |
(3) | Base Policy Specified Amount Charge; plus |
(4) | Deferred Premium Load (only applied during years two through five to the monthly deduction associated with the Policy Anniversary in those years); plus |
(5) | the monthly cost of any additional benefits provided by any Riders; plus |
(6) | Base Policy Cost of Insurance. |
• | sex (if not unisex classified) of the Insured; |
• | the elapsed time since the Policy Date; |
• | Investment Experience; |
• | the charges assessed to the policy; |
• | the policy component configurations; and |
• | the pattern of renewal Premium payments. |
• | the policy owner requests in writing to the Service Center to terminate coverage; |
• | the Insured dies; |
• | the policy is In Force on the Maturity Date and the policy owner does not elect to extend coverage beyond the Maturity Date; |
• | the policy Lapses; or |
• | the policy is surrendered for its Cash Surrender Value. |
• | the Total Specified Amount; |
• | the current Cash Value; |
• | Premiums paid; |
• | the Cash Surrender Value; |
• | all charges since the last report; and |
• | Indebtedness. |
• | Policy Component A calls for the greatest apportionment of charges on the front-end. This policy component includes a Premium Load that declines over the first five policy years, as well as a Deferred Premium Load that is assessed in policy years two through five and is based on Premium paid in the first policy year. The aggregate current monthly charges (i.e., the cost of insurance charge, the specified amount charge, and the sub-account asset charge) under this policy component are lower than those for Policy Components B and C during the first four policy years, and lower than those for Policy Component D in all policy years. |
• | Policy Component B includes a Premium Load that declines over the first five policy years, but does not include a Deferred Premium Load. The aggregate current monthly charges are lower than those for Policy Component A after the first four policy years, lower than those for Policy Component C after the first 10 policy years, and lower than those for Policy Component D in all policy years. |
• | Policy Component C apportions charges on the front-end to a lesser extent than under either Policy Component A or B: the Premium Load is at a lower, declining rate and for a shorter duration (i.e., for four rather than five years). The aggregate current monthly charges are higher than those for Policy Component B during the first 10 policy years, and similar thereafter. The aggregate current monthly charges are higher than those for Policy Component A during the first four policy years, and similar thereafter. The aggregate current monthly charges are lower than those for Policy Component D in all years. |
• | Policy Component D has no Premium Load—either front-end or deferred. The aggregate current monthly charges under this policy component are always higher than those under Policy Components A, B, and C. |
Policy Year | 1 | 2 | 3 | 4 | 5 and thereafter | ||||||||||||||||
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium | ||||||||||||
Policy Component
A |
10% | 2% | 8% | 2% | 6% | 2% | 4% | 2% | 2% | 2% | |||||||||||
Policy Component
B |
10% | 2% | 8% | 2% | 6% | 2% | 4% | 2% | 2% | 2% | |||||||||||
Policy Component
C |
8% | 2% | 6% | 2% | 4% | 2% | 2% | 2% | 2% | 2% | |||||||||||
Policy Component
D |
0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Policy Year | 1 | 2-5 | 6 and thereafter | ||||||||||
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium |
Target
Premium |
Excess
Premium | ||||||||
Policy Component
A |
0% | 0% | 2% | 0.5% | 0% | 0% | |||||||
Policy Component
B |
0% | 0% | 0% | 0% | 0% | 0% | |||||||
Policy Component
C |
0% | 0% | 0% | 0% | 0% | 0% | |||||||
Policy Component
D |
0% | 0% | 0% | 0% | 0% | 0% |
Policy Year | Total
Specified Amount | |
1 through
20 |
$0.08 per $1,000 | |
21 and
thereafter |
$0.01 per $1,000 |
Total Specified Amount | ||||
Policy Year | Up to $50,000 | Over $50,000 | ||
1 through
20 |
$0.30 per $1,000 | $0.09 per $1,000 | ||
21 and
thereafter |
$0.01 per $1,000 | $0.01 per $1,000 |
1 | The total charges applied to Base Policy Specified Amount are determined by adding the amount of the charges of the first $50,000 of Total Specified Amount attributable to Base Policy Specified Amount to the amount of charges attributable to Base Policy Specified Amount on Total Specified Amount in excess of $50,000. Base Policy Specified Amount will equal Total Specified Amount, unless any Rider Specified Amount is elected. |
Ratio
of Cash Value to 7-Pay Premium2 (on a monthly anniversary) |
Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
Under
125% |
0.30% | 0.25% | 0.25% | 0.60% | ||||
125% -
249% |
0.26% | 0.23% | 0.23% | 0.55% | ||||
250% -
374% |
0.22% | 0.20% | 0.20% | 0.50% | ||||
375% -
499% |
0.19% | 0.18% | 0.18% | 0.46% | ||||
500% -
649% |
0.17% | 0.16% | 0.16% | 0.42% | ||||
650% -
799% |
0.15% | 0.14% | 0.14% | 0.38% | ||||
800% -
999% |
0.13% | 0.13% | 0.13% | 0.35% | ||||
1000% -
1299% |
0.11% | 0.11% | 0.11% | 0.33% | ||||
1300% -
1599% |
0.10% | 0.10% | 0.10% | 0.31% | ||||
1600% -
1999% |
0.09% | 0.09% | 0.09% | 0.29% | ||||
2000% -
2499% |
0.08% | 0.08% | 0.08% | 0.27% | ||||
2500% &
over |
0.06% | 0.06% | 0.06% | 0.25% |
1 | To calculate the monthly
deduction based on the annual rates listed above, use the following formula: Monthly Rate = (1+ Annual Rate) (Number of days in the Month / Number of days in the year) – 1 |
2 | The 7-Pay Premium is established as of the Policy Date and will not change. |
Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | |||
0.30% | 0.25% | 0.25% | 0.60% |
• | Underlying mutual fund 12b-1 fees, which are deducted from underlying mutual fund assets; |
• | Sub-transfer agent fees or fees pursuant to administrative service plans adopted by the underlying mutual fund, which may be deducted from underlying mutual fund assets; and |
• | Payments by an underlying mutual fund's advisor or subadvisor (or its affiliates). Such payments may be derived, in whole or in part, from the advisory fee, which is deducted from underlying mutual fund assets and is reflected in mutual fund charges. |
(1) | At the time of the change, the new Insured must have the same business relationship to the policy owner as did the previous Insured. |
(2) | The new Insured may be required to submit satisfactory evidence of insurability. |
(3) | The new Insured must satisfy Nationwide’s underwriting requirements. |
(4) | The policy must be In Force and not be in a Grace Period at the time of the change. |
(5) | The new Insured must have been at least age 18 on the Policy Date. |
(6) | The policy owner must make written application to change the Insured to the Service Center. |
• | certain benefits that are normally available under the policy may be reduced or eliminated when this Rider is in effect; |
• | adding this Rider results in a lower Enhancement Benefit; |
• | in some years and/or at some ages, the cost of insurance charge for the Rider is more expensive than the cost of insurance for the base policy; |
• | the Maturity Date may not be extended with respect to the Rider Specified Amount; |
• | the Rider's death benefit terminates if the Insured is living on the Maturity Date; and |
• | the compensation rates payable to the selling broker-dealer are lower on this Rider than those on the base policy. |
• | Sub-Account Asset Charge; |
• | Supplemental Insurance Rider Specified Amount Charge; |
• | Supplemental Insurance Rider Cost of Insurance Charge; and |
• | Supplemental Insurance Rider Sub-Account Asset Charge. |
Ratio
of Cash Value to 7-Pay Premium2 (on a monthly anniversary) |
Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | ||||
Under
125% |
0.20% | 0.16% | 0.16% | 0.30% | ||||
125% -
249% |
0.18% | 0.15% | 0.15% | 0.27% | ||||
250% -
374% |
0.16% | 0.14% | 0.14% | 0.24% | ||||
375% -
499% |
0.14% | 0.13% | 0.13% | 0.22% | ||||
500% -
649% |
0.12% | 0.12% | 0.12% | 0.20% | ||||
650% -
799% |
0.11% | 0.11% | 0.11% | 0.18% | ||||
800% -
999% |
0.10% | 0.10% | 0.10% | 0.16% | ||||
1000% -
1299% |
0.09% | 0.09% | 0.09% | 0.14% | ||||
1300% -
1599% |
0.08% | 0.08% | 0.08% | 0.13% | ||||
1600% -
1999% |
0.07% | 0.07% | 0.07% | 0.12% | ||||
2000% -
2499% |
0.06% | 0.06% | 0.06% | 0.11% | ||||
2500% &
over |
0.05% | 0.05% | 0.05% | 0.10% |
1 | To calculate the monthly
deduction based on the annual rates listed above, use the following formula: Monthly Rate = (1+ Annual Rate) (Number of days in the Month / Number of days in the year) -1 |
2 | The 7-Pay Premium is established as of the Policy Date and will not change. |
Policy
Component A |
Policy
Component B |
Policy
Component C |
Policy
Component D | |||
0.20% | 0.16% | 0.16% | 0.30% |
Policy Year | Total Specified Amount | |
1 through
20 |
$0.02 per $1,000 | |
21 and
thereafter |
$0.01 per $1,000 |
Total Specified Amount | ||||
Policy Year | Up to $50,000 | Over $50,000 | ||
1 through
20 |
$0.05 per $1,000 | $0.01 per $1,000 | ||
21 and
thereafter |
$0.01 per $1,000 | $0.01 per $1,000 |
1 | The charge associated with the first $50,000 of Total Specified Amount is determined separately from the charge associated with the Total Specified Amount in excess of $50,000. Each of these charges is determined using a weighted average (i.e., a blend that uses the relative proportions of the Base Policy Specified Amount and Rider Specified Amount) of the base and Rider charges. |
(1) | Base Policy Death Benefit – The amount of the Death Benefit allocated to the base policy is calculated using the formula below. |
Base
Policy Death Benefit |
= | CV + (Total NAAR) | x |
(Base Policy Specified Amount) (Total Specified Amount) |
CV | = | the Cash Value of the policy |
Total NAAR | = | the total Net Amount At Risk which is the Death Benefit minus the Cash Value |
(2) | Supplemental Insurance Rider Death Benefit – The amount of the Death Benefit allocated to the Supplemental Insurance Rider is calculated by taking the Death Benefit and subtracting the Base Policy Death Benefit (as calculated in item 1 above). |
In most instances, charges end up being lower if the policy owner elects as much coverage as possible under the Rider. | |
Total Specified Amount remains the same unless an increase or decrease is requested. All increases or decreases are done proportionally based on the established allocation between Rider Specified Amount and Base Policy Specified Amount. | |
If the Cash Value increases, the portion of the Death Benefit attributable to this Rider may, at times, be less than the Rider Specified Amount. If the Cash Value decreases, the portion of the Death Benefit attributable to the base policy may, at times, be less than the Base Policy Specified Amount. |
• | the date the base policy is surrendered or terminated; |
• | the date the base policy Lapses; |
• | the Insured's death; or |
• | the date the Insured reaches Attained Age 100. |
• | Annually, at the end of a policy year; |
• | At the time a new loan is requested; |
• | When a loan repayment is made; |
• | Upon the Insured's death; |
• | Upon policy Lapse and/or; |
• | Upon a full surrender of the policy. |
• | submitting a written request to reinstate the policy to the Service Center any time within three years after the end of the Grace Period (or longer if required by state law) and before the Maturity Date; |
• | providing satisfactory evidence of insurability that Nationwide may require; |
• | paying sufficient Premium to keep the policy In Force for three months (or less if required by state law) from the date of reinstatement; |
• | paying sufficient Premium to cover all policy charges that were due and unpaid during the Grace Period; and |
• | repaying or reinstating any Indebtedness that existed at the end of the Grace Period. |
• | occurs before the 15th anniversary of the Policy Date; and |
• | when added to any prior preferred policy surrenders taken in same policy year, does not exceed 10% of the Cash Surrender Value as of the beginning of that policy year. |
• | the cash value accumulation test; or |
• | the guideline premium/cash value corridor test. |
• | The cash value accumulation test generally allows flexibility to pay more Premium, subject to Nationwide's approval of any increase in the policy's Net Amount At Risk that would result from higher Premium payments. Premium payments under the guideline premium/cash value corridor test are limited by Section 7702 of the Code. |
• | Generally, the guideline premium/cash value corridor test produces a higher Death Benefit in the early years of the policy while the cash value accumulation test produces a higher Death Benefit in the policy's later years. |
• | Monthly cost of insurance charges that vary with the amount of the Death Benefit may be greater during the years when the elected test produces a higher Death Benefit. |
• | the Total Specified Amount will be changed to the Cash Value on the Maturity Date and increases or decreases to the Total Specified Amount will not be permitted; |
• | Death Benefit Option 2 and Death Benefit Option 3 will be changed to Death Benefit Option 1 where the Total Specified Amount equals the Cash Value; |
• | 100% of the policy's Cash Value will be permanently transferred to the Fixed Account; |
• | no additional Premium payments will be permitted; |
• | no additional monthly periodic policy charges will be deducted; |
• | loans, loan repayments and partial surrenders will continue to be permitted; |
• | loan interest will continue to be charged on Indebtedness; and |
• | the extension of coverage beyond the Maturity Date will not occur when the policy would fail the definition of life insurance under the Code. |
• | the value each year of the life insurance protection provided; |
• | an amount equal to any employer-paid Premiums; |
• | some or all of the amount by which the current value exceeds the employer's interest in the policy; and/or |
• | interest that is deemed to have been forgiven on a loan that Nationwide deems to have been made by the employer. |
• | remove, close, combine, or add Sub-Accounts and make new Sub-Accounts available; |
• | substitute shares of another mutual fund, which may have different fees and expenses, for shares of an existing mutual fund; |
• | transfer assets supporting the policies from one Sub-Account to another, or from one separate account to another; |
• | combine the separate account with other separate accounts, and/or create new separate accounts; |
• | deregister the separate account under the 1940 Act, or operate the separate account or any Sub-Account as a management investment company under the 1940 Act or as any other form permitted by law; and |
• | modify the policy provisions to reflect changes in the Sub-Accounts and the separate account to comply with applicable law. |
(1) | shares of a current underlying mutual fund are no longer available for investment; or |
(2) | further investment in an underlying mutual fund is inappropriate. |
Designations Key: | |
STTF: | The underlying mutual fund corresponding to this Sub-Account assesses (or reserves the right to assess) a short-term trading fee, see Short-Term Trading Fees. |
FF: | The underlying mutual fund corresponding to this Sub-Account primarily invests in other mutual funds. Therefore, a proportionate share of the fees and expenses of any acquired funds are indirectly borne by investors. As a result, investors in this Sub-Account may incur higher charges than if the assets were invested in an underlying mutual fund that does not invest in other mutual funds. Refer to the prospectus for this underlying mutual fund for more information. |
Investment Advisor: | AllianceBernstein L.P. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | AllianceBernstein L.P. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | AllianceBernstein L.P. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | The fund pursues long-term total return using a strategy that seeks to protect against U.S. inflation. |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | Capital growth. |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | Long-term capital growth with income as a secondary objective. |
Investment Advisor: | American Century Investment Management, Inc. |
Investment Objective: | Long-term capital growth with income as a secondary objective. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | Seeks high total return (including income and capital gains) consistent with the preservation of capital over the long term. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | Seeks to provide as high a level of current income as is consistent with the preservation of capital. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | Seeks long-term growth of capital through investments in smaller companies in the U.S. and around the world. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | Seeks to provide you with growth of capital. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | Seeks to provide you with long-term growth of capital. |
Investment Advisor: | Capital Research and Management Company |
Investment Objective: | The fund’s investment objective is long-term capital appreciation. |
Investment Advisor: | BlackRock Advisors, LLC |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | Seek high total investment return. |
Investment Advisor: | BlackRock Advisors, LLC |
Sub-advisor: | BlackRock Financial Management, Inc. |
Investment Objective: | The Fund seeks to maximize total return, consistent with income generation and prudent investment management. |
Investment Advisor: | BlackRock Advisors, LLC |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | The investment objective of the Fund is to seek high total investment return (i.e. the combination of capital appreciation (from increases or decreases in the market value) and current income (from interest or dividends). |
Investment Advisor: | Davis Selected Advisors, L.P. |
Sub-advisor: | Davis Selected Advisors - NY, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Delaware Management Company, Inc. |
Investment Objective: | The Series seeks long-term capital appreciation. |
Investment Advisor: | Delaware Management Company, Inc. |
Investment Objective: | The fund seeks capital appreciation. |
Investment Advisor: | Deutsche Investment Management Americas Inc. |
Investment Objective: | Seeks to achieve a high rate of total return. |
Investment Advisor: | Deutsche Investment Management Americas Inc. |
Investment Objective: | Long-term capital appreciation. |
Investment Advisor: | The Dreyfus Corporation |
Investment Objective: | The fund seeks investment results that are greater than the total return performance of publicly traded common stocks of medium-size domestic companies in the aggregate, as represented by the Standard & Poor's MidCap 400® Index (S&P 400 Index), and if such fees and/or charges were included, the fees and expenses would be higher. |
Investment Advisor: | The Dreyfus Corporation |
Investment Objective: | The fund seeks to match the performance of the Standard & Poor's® SmallCap 600 Index (S&P SmallCap 600 Index). |
Investment Advisor: | The Dreyfus Corporation |
Investment Objective: | The fund seeks to match the total return of the Standard & Poor's® 500 Composite Stock Price Index (S&P 500® Index). |
Investment Advisor: | The Dreyfus Corporation |
Sub-advisor: | Fayez Sarofim & Co. |
Investment Objective: | The fund seeks long-term capital growth consistent with the preservation of capital. Its secondary goal is current income. |
Investment Advisor: | The Dreyfus Corporation |
Investment Objective: | The fund seeks long-term capital growth. |
Investment Advisor: | Eaton Vance Management |
Investment Objective: | The fund seeks to provide a high level of current income. |
Investment Advisor: | Federated Investment Management Company |
Investment Objective: | Current income. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | High total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | High total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | High total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | FMR Co., Inc. |
Sub-advisor: | FMR Co., Inc. |
Investment Objective: | The fund seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. |
Investment Advisor: | Fidelity Management & Research Company |
Sub-advisor: | FMR Co., Inc., Fidelity Investments Money Management, Inc., Fidelity Management & Research (U.K.) Inc., Fidelity Research & Analysis Company, Fidelity Investments Japan Limited, Fidelity International Investment Advisors, Fidelity International Investment Advisors (U.K.) Limited |
Investment Objective: | Long-term capital appreciation. |
Investment Advisor: | Fidelity Management & Research Company |
Sub-advisor: | FMR Co., Inc., Fidelity Management & Research (U.K.) Inc., Fidelity Research & Analysis Company, Fidelity Investments Japan Limited, Fidelity International Investment Advisors, Fidelity International Investment Advisors (U.K.) Limited |
Investment Objective: | Reasonable income. |
Investment Advisor: | Fidelity Management & Research Company |
Sub-advisor: | FMR Co., Inc., Fidelity Management & Research (U.K.) Inc., Fidelity Research & Analysis Company, Fidelity International Investment Advisors, Fidelity International Investment Advisors (U.K.) Limited, Fidelity Investments Japan Limited |
Investment Objective: | Capital appreciation. |
Investment Advisor: | Fidelity Management & Research Company |
Sub-advisor: | Fidelity Investments Money Management, Inc., Fidelity Research & Analysis Company, Fidelity International Investment Advisors, Fidelity International Investment Advisors (U.K.) Limited |
Investment Objective: | High level of current income. |
Investment Advisor: | Fidelity Management & Research Company |
Sub-advisor: | FMR Co., Inc., Fidelity Management & Research (U.K.) Inc., Fidelity Research & Analysis Company, Fidelity Investments Japan Limited, Fidelity International Investment Advisors, Fidelity International Investment Advisors (U.K.) Limited |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Franklin Mutual Advisers, LLC |
Investment Objective: | Seeks capital appreciation. |
Investment Advisor: | Franklin Advisory Services, LLC |
Investment Objective: | Seeks long-term total return. |
Investment Advisor: | Templeton Investment Counsel, LLC |
Investment Objective: | Seeks long-term capital growth. |
Investment Advisor: | Franklin Advisers, Inc. |
Investment Objective: | Seeks high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. |
Investment Advisor: | Franklin Advisers, Inc. |
Investment Objective: | High current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. |
Investment Advisor: | Goldman Sachs Asset Management, L.P. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Goldman Sachs Asset Management, L.P. |
Investment Objective: | Seeks long-term growth of capital. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | To seek long-term growth of capital and income. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Total return, comprised of current income and capital appreciation. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Capital growth. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Invesco Advisers, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Ivy Investment Management Company |
Investment Objective: | To seek to provide total return. |
Investment Advisor: | Ivy Investment Management Company |
Investment Objective: | To seek to provide growth of capital. |
Investment Advisor: | Ivy Investment Management Company |
Investment Objective: | To seek to provide total return through a combination of high current income and capital appreciation. |
Investment Advisor: | Ivy Investment Management Company |
Investment Objective: | To seek to provide growth of capital. |
Investment Advisor: | Ivy Investment Management Company |
Sub-advisor: | Advantus Capital Management, Inc. |
Investment Objective: | To seek to provide total return through capital appreciation and current income. |
Investment Advisor: | Ivy Investment Management Company |
Investment Objective: | To seek to provide growth of capital. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Long-term capital growth, consistent with preservation of capital and balanced by current income. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Maximum total return, consistent with preservation of capital. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Janus Capital Management LLC |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Janus Capital Management LLC |
Sub-advisor: | Perkins Investment Management LLC ("Perkins") |
Investment Objective: | Capital appreciation. |
Investment Advisor: | J.P. Morgan Investment Management Inc. |
Investment Objective: | Capital appreciation with the secondary goal of achieving current income by investing primarily in equity securities. |
Investment Advisor: | J.P. Morgan Investment Management Inc. |
Investment Objective: | The Portfolio seeks capital growth over the long term. |
Investment Advisor: | Lazard Asset Management LLC |
Investment Objective: | Long-term capital appreciation. |
Investment Advisor: | Legg Mason Partners Fund Advisor, LLC |
Sub-advisor: | ClearBridge Investments, LLC |
Investment Objective: | The fund seeks long-term growth of capital. |
Investment Advisor: | Lincoln Investment Advisors Corporation (LIA) |
Sub-advisor: | BAMCO, Inc. |
Investment Objective: | Capital appreciation. |
Investment Advisor: | Lord, Abbett & Co. LLC |
Investment Objective: | To seek high current income and the opportunity for capital appreciation to produce a high total return. |
Investment Advisor: | Lord, Abbett & Co. LLC |
Investment Objective: | Capital appreciation through investments, primarily in equity securities, which are believed to be undervalued in the market place. |
Investment Advisor: | Lord, Abbett & Co. LLC |
Investment Objective: | The Fund’s investment objective is to seek a high level of income consistent with preservation of capital. |
Investment Advisor: | Lord, Abbett & Co. LLC |
Investment Objective: | The Fund’s investment objective is to seek income and capital appreciation to produce a high total return. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | To seek capital appreciation. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | The fund’s investment objective is to seek total return with an emphasis on current income, but also considering capital appreciation. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | To seek capital appreciation. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | To seek capital appreciation. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | The fund’s investment objective is to seek capital appreciation. MFS normally invests the fund’s assets primarily in foreign equity securities, including emerging market equity securities. |
Investment Advisor: | Massachusetts Financial Services Company |
Investment Objective: | To seek capital appreciation. |
Investment Advisor: | Morgan Stanley Investment Management Inc. |
Investment Objective: | High total return by investing primarily in fixed income securities of government and government-related issuers and, to a lesser extent, of corporate issuers in emerging market countries. |
Investment Advisor: | Morgan Stanley Investment Management Inc. |
Sub-advisor: | Morgan Stanley Investment Management Company |
Investment Objective: | The Portfolio seeks to provide current income and capital appreciation. |
Investment Advisor: | Morgan Stanley Investment Management Inc. |
Investment Objective: | Long-term capital appreciation by investing primarily in growth-oriented equity securities of large capitalization companies. |
Investment Advisor: | Morgan Stanley Investment Management Inc. |
Investment Objective: | Long-term capital growth by investing primarily in common stocks and other equity securities. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Federated Investment Management Company |
Investment Objective: | The Fund seeks to provide high current income. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Neuberger Berman Investment Advisers LLC |
Investment Objective: | The Fund seeks long-term growth of capital by investing primarily in securities of companies that meet the fund's financial criteria and social policy. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | The Fund seeks to match the performance of the Bloomberg Barclays U.S. Aggregate Bond Index ("Aggregate Bond Index") as closely as possible before the deduction of Fund expenses. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Aggressive Fund seeks maximum growth of capital consistent with a more aggressive level of risk as compared to other Cardinal Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Fund seeks a high level of total return through investment in both equity and fixed income securities. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Fund seeks growth of capital, but also seeks income consistent with a less aggressive level of risk as compared to other Cardinal Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Fund seeks a high level of total return consistent with a conservative level of risk as compared to other Cardinal Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Fund seeks a high level of total return consistent with a moderate level of risk as compared to other Cardinal Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The Fund seeks growth of capital, but also seeks income consistent with a moderately aggressive level of risk as compared to other Cardinal Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The fund seeks a high level of total return consistent with a moderately conservative level of risk. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Lazard Asset Management, LLC and Standard Life Investments (Corporate Funds) Limited |
Investment Objective: | The Fund seeks long-term capital growth by investing primarily in equity securities of companies located in emerging market countries. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Nationwide Asset Management, LLC |
Investment Objective: | The fund seeks as high a level of current income as is consistent with the preservation of capital. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Federated Investment Management Company |
Investment Objective: | The Fund seeks as high a level of current income as is consistent with preserving capital and maintaining liquidity. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Lazard Asset Management LLC |
Investment Objective: | The Fund seeks long-term capital growth by investing primarily in equity securities of companies in Europe, Australasia, the Far East and other regions, including developing countries. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | The Fund seeks to match the performance of the MSCI Europe, Australasia and Far East Index ("MSCI EAFE® Index") as closely as possible before the deduction of Fund expenses. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | The Fund seeks to match the performance of the Morgan Stanley Capital International Europe, Australasia and Far East Index ("MSCI EAFE® Index") as closely as possible before the deduction of Fund expenses. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The NVIT Investor Destinations Aggressive Fund seeks maximum growth of capital consistent with a more aggressive level of risk as compared to other Investor Destinations Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The NVIT Investor Destinations Conservative Fund seeks a high level of total return consistent with a conservative level of risk as compared to other Investor Destinations Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The NVIT Investor Destinations Moderate Fund seeks a high level of total return consistent with a moderate level of risk as compared to other Investor Destinations Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The NVIT Investor Destinations Moderately Aggressive Fund seeks growth of capital, but also seeks income consistent with a moderately aggressive level of risk as compared to other Investor Destinations Funds. |
Investment Advisor: | Nationwide Fund Advisors |
Investment Objective: | The NVIT Investor Destinations Moderately Conservative Fund seeks a high level of total return consistent with a moderately conservative level of risk. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | BlackRock Investment Management, LLC |
Investment Objective: | The Fund seeks capital appreciation. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Logan Circle Partners, L.P. |
Investment Objective: | The Fund seeks to provide above average total return over a market cycle of three to five years. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Massachusetts Financial Services Company; Smith Asset Management Group; and Loomis, Sayles & Company L.P. |
Investment Objective: | The fund seeks long-term capital growth. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Massachusetts Financial Services Company; The Boston Company Asset Management, LLC; Wellington Management Company, LLP |
Investment Objective: | The fund seeks long-term capital growth. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Neuberger Berman Investment Advisers LLC; Wells Capital Management, Inc. |
Investment Objective: | The fund seeks long-term capital growth. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | American Century Investment Management, Inc.; Thompson, Siegel & Walmsley LLC; WEDGE Capital Management L.L.P. |
Investment Objective: | The fund seeks long-term capital appreciation. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | OppenheimerFunds, Inc.; Wellington Management Company, LLP |
Investment Objective: | The Fund seeks capital growth. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Epoch Investment Partners, Inc.; JPMorgan Investment Management Inc. |
Investment Objective: | The Fund seeks capital appreciation. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Jacobs Levy Equity Management, Inc.; OppenheimerFunds, Inc.; Putnam Investment Management, LLC |
Investment Objective: | The Fund seeks long-term growth of capital. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | HighMark Capital Management, Inc. |
Investment Objective: | The Fund seeks total return through a flexible combination of capital appreciation and current income. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Brookfield Investment Management, Inc. |
Investment Objective: | The Fund seeks current income and long-term capital appreciation. |
Investment Advisor: | Nationwide Fund Advisors |
Sub-advisor: | Nationwide Asset Management, LLC |
Investment Objective: | The Fund seeks to provide a high level of current income while preserving capital and minimizing fluctuations in share value. |
Investment Advisor: | Neuberger Berman Investment Advisers LLC |
Investment Objective: | The Fund seeks long-term growth of capital. |
Investment Advisor: | Neuberger Berman Investment Advisers LLC |
Investment Objective: | The fund seeks growth of capital. |
Investment Advisor: | OFI Global Asset Management, Inc. |
Sub-advisor: | OppenheimerFunds, Inc. |
Investment Objective: | The investment seeks capital appreciation. |
Investment Advisor: | OFI Global Asset Management, Inc. |
Sub-advisor: | OppenheimerFunds, Inc. |
Investment Objective: | The Fund seeks capital appreciation. |
Investment Advisor: | OFI Global Asset Management, Inc. |
Sub-advisor: | OppenheimerFunds, Inc. |
Investment Objective: | The Fund seeks capital appreciation. |
Investment Advisor: | OFI Global Asset Management, Inc. |
Sub-advisor: | OppenheimerFunds, Inc. |
Investment Objective: | The Fund seeks capital appreciation. |
Investment Advisor: | OFI Global Asset Management, Inc. |
Sub-advisor: | OppenheimerFunds, Inc. |
Investment Objective: | Capital appreciation. |
Investment Advisor: | Pacific Investment Management Company LLC |
Sub-advisor: | Research Affiliates, LLC |
Investment Objective: | The Portfolio seeks maximum real return, consistent with preservation of real capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum total return consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Fund seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum real return, consistent with preservation of real capital and prudent investment management. |
Investment Advisor: | Pacific Investment Management Company LLC |
Investment Objective: | The Portfolio seeks maximum total return, consistent with preservation of capital and prudent investment management. |
Investment Advisor: | Pioneer Investment Management, Inc. |
Investment Objective: | Long-term growth of capital. |
Investment Advisor: | Pioneer Investment Management, Inc. |
Investment Objective: | Maximize total return through a combination of income and capital appreciation. |
Investment Advisor: | Putnam Investment Management, LLC |
Sub-advisor: | Putnam Investments Limited |
Investment Objective: | Seeks capital appreciation. |
Investment Advisor: | Royce & Associates, LP |
Investment Objective: | Long-term capital growth. |
Investment Advisor: | T. Rowe Price Associates, Inc. |
Investment Objective: | The fund seeks to provide long-term capital growth. Income is a secondary objective. |
Investment Advisor: | T. Rowe Price Associates, Inc. |
Investment Objective: | The fund seeks a high level of dividend income and long-term capital growth primarily through investments in stocks. |
Investment Advisor: | T. Rowe Price Associates, Inc. |
Investment Objective: | The fund seeks to provide long-term capital growth by investing primarily in the common stocks of growth companies. |
Investment Advisor: | T. Rowe Price Associates, Inc. |
Investment Objective: | The fund seeks the highest total return over time consistent with an emphasis on both capital appreciation and income. |
Investment Advisor: | T. Rowe Price Associates, Inc. |
Investment Objective: | The fund seeks a high level of income consistent with moderate fluctuations in principal value. |
Investment Advisor: | Van Eck Associates Corporation |
Investment Objective: | Long-term capital appreciation by investing primarily in hard asset securities. Income is a secondary consideration. |
Investment Advisor: | Wells Fargo Funds Management, LLC |
Sub-advisor: | Wells Capital Management, Inc. |
Investment Objective: | Seeks long-term capital appreciation. |
Investment Advisor: | Wells Fargo Funds Management, LLC |
Sub-advisor: | Wells Capital Management, Inc. |
Investment Objective: | Seeks long-term capital appreciation. |
Accumulation Unit – The measure of an investment in, or share of, a Sub-Account. Accumulation Unit values are initially set at $10 for each Sub-Account. |
Attained Age – A person's Issue Age plus the number of full years since the Policy Date. |
Base Policy Specified Amount – The amount of insurance coverage selected under the base policy, excluding any Rider Specified Amount. |
Cash Surrender Value – The amount payable to the policy owner upon a full surrender of the policy. This amount is equal to the Enhanced Cash Value, minus Indebtedness and outstanding policy charges. |
Cash Value – The total of amounts allocated to the Sub-Accounts, the policy loan account, and the Fixed Account. |
Code – The Internal Revenue Code of 1986, as amended. |
Death Benefit – The amount paid upon the Insured's death, before the deduction of any Indebtedness, or due and unpaid policy charges. |
Enhanced Cash Value – The sum of the policy's Cash Value plus the Enhancement Benefit, if applicable. |
Enhancement Benefit – An additional amount added to the policy's Cash Value upon a full surrender of the policy during the applicable policy years, provided the qualifying conditions have been satisfied. |
Excess Premium – Any Premium applied to the policy that is not considered Target Premium. |
Fixed Account – An investment option that is funded by Nationwide's general account. |
Grace Period – A 61-day period after which the Policy will Lapse if sufficient payments are not made to prevent Lapse. |
In Force – Any time during which benefits are payable under the policy and any elected Rider(s). |
Indebtedness – The total amount of all outstanding policy loans, including principal and interest due. |
Insured – The person whose life is insured under the policy, and whose death triggers payment of the Death Benefit. |
Investment Experience – The market performance of a mutual fund/Sub-Account. |
Issue Age – A person's age based on their last birthday on or before the Policy Date. |
Lapse – The policy terminates without value. |
Maturity Date – The policy anniversary on which the Insured reaches 100. |
Minimum Required Death Benefit – The lowest Death Benefit that will qualify the policy as life insurance under the Code. |
Nationwide – Nationwide Life Insurance Company, us, we, or our. |
Net Amount At Risk – The policy's base Death Benefit minus the policy's Cash Value. |
Net Asset Value (NAV) – The price of each share of a mutual fund in which a Sub-Account invests. NAV is calculated by subtracting the mutual fund's liabilities from its total assets, and dividing that figure by the number of shares outstanding. Nationwide uses NAV to calculate the value of Accumulation Units. NAV does not reflect deductions made for charges taken from the Sub-Accounts. |
Net Premium – Premium after transaction charges, but before any allocation to an investment option. |
Policy Data Page(s) – The Policy Data Page(s) contains more detailed information about the policy, some of which is unique to the policy owner, the beneficiary, and the Insured. |
Policy Date – The date the policy takes effect as shown in the Policy Data Pages. Policy years, months, and anniversaries are measured from this date. |
Policy Loan Account – An account used as collateral for policy loans. Amounts in this account will accrue and be credited daily interest at a rate not less than the stated interest crediting rate shown on the Policy Data Pages. |
Policy owner or Owner – The person or entity named as the owner on the application, or the person or entity assigned ownership rights. |
Policy Proceeds or Proceeds – The amount payable upon termination of the policy. Policy Proceeds may constitute the Death Benefit, the Maturity Proceeds, or the Cash Surrender Value upon a full surrender of the policy. |
Premium – Amount(s) paid to purchase and maintain the policy. |
Rider – An optional benefit purchased under the policy. Rider availability and Rider terms may vary depending on the state in which the policy was issued. |
Rider Specified Amount – The portion of the Total Specified Amount attributable to the Supplemental Insurance Rider. |
SEC – The Securities and Exchange Commission. |
Service Center – The department of Nationwide responsible for receiving all service and transaction requests relating to the policy. For service and transaction requests submitted other than by telephone (including fax requests), the Service Center is Nationwide's mail and document processing facility. For service and transaction requests communicated by telephone, the Service Center is Nationwide’s operations processing facility, see Contacting the Service Center. |
Seven-Pay Premium (7-Pay Premium) – 100% of the unadjusted maximum annual premium allowed under the Code assuming that: (i) the policy is not a modified endowment contract; (ii) the policy's Death Benefit is equal to the Total Specified Amount, and (iii) seven level, annual premiums are paid; (iv) there are no premiums resulting from a Section 1035 exchange; and (v) there are no adjustments due to a state imposed requirement or underwriting Substandard Ratings. |
Sub-Account(s) – The mechanism used to account for allocations of Net Premium and Cash Value among the policy's variable investment options. |
Substandard Rating – An underwriting classification based on medical and/or non-medical factors used to determine what to charge for life insurance based on characteristics of the Insured beyond traditional factors for standard risks, which include age, sex, and smoking habits of the Insured. Substandard Ratings are shown in the Policy Data Pages as rate class multiples (medical factors) and/or monthly flat extras (medical and/or non-medical factors). The higher the rate class multiple or monthly flat extra, the greater the risk assessed and the higher the cost of coverage. |
Target Premium – The maximum amount of Premium the policy owner may pay to purchase Base Policy Specified Amount under Section 7702A of the Code and still have the policy treated as a life insurance contract for federal tax purposes. This is the maximum Premium that the policy owner may pay based on the "7-Pay method", which determines the limits on Premium payments in each of the first seven policy years. The actual amount is based on numerous factors which include the Issue Age of the Insured, Substandard Ratings (if any), and an adjustment for any Premium exchanged into the policy under Section 1035 of the Code. |
Total Specified Amount – The sum of the Base Policy Specified Amount and the Rider Specified Amount, if applicable. |
Valuation Period – The period during which Nationwide determines the change in the value of the Sub-Accounts. One Valuation Period ends and another begins with the close of trading on the NYSE. |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
10.00% | 0.00% | 5.00% (1) | |||
Yr
2 |
8.00% | 0.00% | 4.00% | |||
Yr
3 |
6.00% | 0.00% | 3.00% | |||
Yr
4 |
4.00% | 0.00% | 2.00% | |||
Yr
5+ |
2.00% | 0.00% | 1.00% |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
0.00% | 0.00% | 0.00% | |||
Yr
2-5 |
0.00% | 0.00% | 0.00% |
Ratio of Cash Value to 7-Pay Premium (on a monthly anniversary) | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Under
125% |
0.25% | 0.60% | 0.43% (2) | |||
125%-249% |
0.23% | 0.55% | 0.39% | |||
250%-374% |
0.20% | 0.50% | 0.35% | |||
375%-499% |
0.18% | 0.46% | 0.32% | |||
500%-649% |
0.16% | 0.42% | 0.29% |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
$12.00 (3) | $12.00 | $12.00 | |||
Yr
2 |
$ 12.00 | $12.00 | $12.00 | |||
Yr
3 |
$ 12.00 | $12.00 | $12.00 | |||
Yr
4 |
$ 12.00 | $12.00 | $12.00 | |||
Yr
5 |
$ 12.00 | $12.00 | $12.00 |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
0.082 | 0.160 | 0.121 | |||
Yr
2 |
0.101 | 0.174 | 0.138 | |||
Yr
3 |
0.120 | 0.190 | 0.155 | |||
Yr
4 |
0.140 | 0.207 | 0.174 | |||
Yr
5 |
0.163 | 0.225 | 0.194 |
(1) | Blended 5.00% = [50% x (Component B @ 10.00%)] plus [50% x (Component D @ 0%)] |
(2) | Blended 0.43% = [50% x (Component B @ 0.25%)] plus [50% x (Component D @ 0.60%)] |
(3) | $12.00 Total Specified Amount Charge = [(Total Specified Amount) ($0.08)/1,000] |
Component B | Component D | Blended
50% Component B and 50% Component D | ||||||||||
Policy Year | Target | Excess | Target | Excess | Target | Excess | ||||||
Yr
1 |
10.00% | 2.00% | 0.00% | 0.00% | 5.00% (4) | 1.00% | ||||||
Yr
2 |
8.00% | 2.00% | 0.00% | 0.00% | 4.00% | 1.00% | ||||||
Yr
3 |
6.00% | 2.00% | 0.00% | 0.00% | 3.00% | 1.00% | ||||||
Yr
4 |
4.00% | 2.00% | 0.00% | 0.00% | 2.00% | 1.00% | ||||||
Yr
5+ |
2.00% | 2.00% | 0.00% | 0.00% | 1.00% | 1.00% |
Component B | Component D | Blended
50% Component B and 50% Component D | ||||||||||
Policy Year | Target | Excess | Target | Excess | Target | Excess | ||||||
Yr
1 |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
Yr
2-5 |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Ratio of Cash Value to 7-Pay Premium (on a monthly anniversary) | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | ||||||||||
Under
125% |
0.25% | 0.16% | 0.23% (5) | 0.60% | 0.30% | 0.54% | 0.43% | 0.23% | 0.39% (6) | ||||||||||
125%-249% |
0.23% | 0.15% | 0.21% | 0.55% | 0.27% | 0.49% | 0.39% | 0.21% | 0.35% | ||||||||||
250%-374% |
0.20% | 0.14% | 0.19% | 0.50% | 0.24% | 0.45% | 0.35% | 0.19% | 0.32% | ||||||||||
375%-499% |
0.18% | 0.13% | 0.17% | 0.46% | 0.22% | 0.41% | 0.32% | 0.18% | 0.29% | ||||||||||
500%-649% |
0.16% | 0.12% | 0.15% | 0.42% | 0.20% | 0.38% | 0.29% | 0.16% | 0.26% |
Policy Year | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | |||||||||
Yr
1 |
$12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | |||||||||
Yr
2 |
$12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | |||||||||
Yr
3 |
$12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | |||||||||
Yr
4 |
$12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | |||||||||
Yr
5 |
$12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 | $12.00 | $3.00 | $10.20 |
Policy Year | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | |||||||||
Yr
1 |
0.082 | 0.059 | 0.077 | 0.160 | 0.072 | 0.142 | 0.121 | 0.066 | 0.110 | |||||||||
Yr
2 |
0.101 | 0.068 | 0.094 | 0.174 | 0.078 | 0.155 | 0.138 | 0.073 | 0.125 | |||||||||
Yr
3 |
0.120 | 0.079 | 0.112 | 0.190 | 0.086 | 0.169 | 0.155 | 0.083 | 0.141 | |||||||||
Yr
4 |
0.139 | 0.092 | 0.130 | 0.207 | 0.093 | 0.184 | 0.173 | 0.093 | 0.157 | |||||||||
Yr
5 |
0.163 | 0.107 | 0.152 | 0.225 | 0.102 | 0.200 | 0.194 | 0.105 | 0.176 |
(4) | 5.00% Blended Premium Load on Target Premium = [50% x (Component B @ 10.00%)] plus [50% x (Component D @ 0%)] |
(5) | 0.23% Variable Sub-Account Asset Charge for Component B = [80% x (Base Policy @ 0.25%)] plus [20% x (Supplemental Insurance Rider @ 0.16%)] |
(6) | 0.39% Blended Variable Sub-Account Asset Charge = [50% x (Component B @ 0.23%)] plus [50% x (Component D @ 0.54%)] |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
10.00% | 0.00% | 5.00% (1) | |||
Yr
2 |
8.00% | 0.00% | 4.00% | |||
Yr
3 |
6.00% | 0.00% | 3.00% | |||
Yr
4 |
4.00% | 0.00% | 2.00% | |||
Yr
5+ |
2.00% | 0.00% | 1.00% |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
0.00% | 0.00% | 0.00% | |||
Yr
2-5 |
0.00% | 0.00% | 0.00% |
Ratio of Cash Value to 7-Pay Premium (on a monthly anniversary) | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Under
125% |
0.25% | 0.60% | 0.43% (2) | |||
125%-249% |
0.23% | 0.55% | 0.39% | |||
250%-374% |
0.20% | 0.50% | 0.35% | |||
375%-499% |
0.18% | 0.46% | 0.32% | |||
500%-649% |
0.18% | 0.46% | 0.32% |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
$16.00 (3) | $16.00 | $16.00 | |||
Yr
2 |
$ 16.00 | $16.00 | $16.00 | |||
Yr
3 |
$ 16.00 | $16.00 | $16.00 | |||
Yr
4 |
$ 16.00 | $16.00 | $16.00 | |||
Yr
5 |
$ 16.00 | $16.00 | $16.00 |
Policy Year | Component B | Component D | Blended
50% Component B and 50% Component D | |||
Yr
1 |
0.973 | 2.505 | 1.739 | |||
Yr
2 |
1.305 | 2.734 | 2.019 | |||
Yr
3 |
1.721 | 2.994 | 2.358 | |||
Yr
4 |
2.128 | 3.420 | 2.774 | |||
Yr
5 |
2.539 | 3.652 | 3.096 |
(1) | Blended 5.00% = [50% x (Component B @ 10.00%)] plus [50% x (Component D @ 0%)] |
(2) | Blended 0.43% = [50% x (Component B @ 0.25%)] plus [50% x (Component D @ 0.60%)] |
(3) | $16.00 Total Specified Amount Charge = [(the first $50,000 of Total Specified Amount) x (.0003) plus (the Total Specified Amount in excess of $50,000 of $100,000) x (.00001)] |
Component B | Component D | Blended
50% Comp B and 50% Comp D | ||||||||||
Policy Year | Target | Excess | Target | Excess | Target | Excess | ||||||
Yr
1 |
10.00% | 2.00% | 0.00% | 0.00% | 5.00% (4) | 1.00% | ||||||
Yr
2 |
8.00% | 2.00% | 0.00% | 0.00% | 4.00% | 1.00% | ||||||
Yr
3 |
6.00% | 2.00% | 0.00% | 0.00% | 3.00% | 1.00% | ||||||
Yr
4 |
4.00% | 2.00% | 0.00% | 0.00% | 2.00% | 1.00% | ||||||
Yr
5+ |
2.00% | 2.00% | 0.00% | 0.00% | 1.00% | 1.00% |
Component B | Component D | Blended
50% Comp B and 50% Comp D | ||||||||||
Policy Year | Target | Excess | Target | Excess | Target | Excess | ||||||
Yr
1 |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
Yr
2-5 |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Ratio of Cash Value to 7-Pay Premium (on a monthly anniversary) | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | ||||||||||
Under
125% |
0.25% | 0.16% | 0.23% (5) | 0.60% | 0.30% | 0.54% | 0.43% | 0.23% | 0.39% (6) | ||||||||||
125%-249% |
0.23% | 0.15% | 0.21% | 0.55% | 0.27% | 0.49% | 0.39% | 0.21% | 0.35% | ||||||||||
250%-374% |
0.20% | 0.14% | 0.19% | 0.50% | 0.24% | 0.45% | 0.35% | 0.19% | 0.32% | ||||||||||
375%-499% |
0.18% | 0.13% | 0.17% | 0.46% | 0.22% | 0.41% | 0.32% | 0.18% | 0.29% | ||||||||||
500%-649% |
0.18% | 0.13% | 0.17% | 0.46% | 0.22% | 0.41% | 0.32% | 0.18% | 0.29% |
Policy Year | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | |||||||||
Yr
1 |
$16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | |||||||||
Yr
2 |
$16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | |||||||||
Yr
3 |
$16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | |||||||||
Yr
4 |
$16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | |||||||||
Yr
5 |
$16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 | $16.00 | $3.50 | $13.50 |
Policy Year | Base | Rider | 80/20
Blend Component B |
Base | Rider | 80/20
Blend Component D |
Base | Rider | 80/20
Blend | |||||||||
Yr
1 |
0.973 | 1.248 | n/a | 2.505 | 0.703 | n/a | 1.739 | 0.976 | n/a | |||||||||
Yr
2 |
1.305 | 1.409 | n/a | 2.734 | 0.820 | n/a | 2.019 | 1.115 | n/a | |||||||||
Yr
3 |
1.721 | 1.621 | n/a | 2.994 | 1.218 | n/a | 2.358 | 1.420 | n/a | |||||||||
Yr
4 |
2.128 | 1.792 | n/a | 3.420 | 1.659 | n/a | 2.774 | 1.725 | n/a | |||||||||
Yr
5 |
2.539 | 2.100 | n/a | 3.652 | 2.268 | n/a | 3.096 | 2.184 | n/a |
(4) | 5.00% Blended Premium Load on Target Premium =[50% x (Component B @ 10.00%)] plus [50% x (Component D @ 0%)] |
(5) | 0.23% Variable Sub-Account Asset Charge for Component B =[80% x (Base Policy @ 0.25%)] plus [20% x (Supplemental Insurance Rider @ 0.16%)] |
(6) | 0.39% Blended Variable Sub-Account Asset Charge =[50% x (Component B @ 0.23%)] plus [50% x (Component D @ 0.54%)] |
• | by telephone at 1-877-351-8808 (TDD: 1-800-238-3035) |
• | by mail to Nationwide Life Insurance Company |
NATIONWIDE
VLI SEPARATE
ACCOUNT-4
Annual Report
to
Contract Owners
December 31, 2016
NATIONWIDE LIFE INSURANCE COMPANY
HOME OFFICE: COLUMBUS, OHIO
Report of Independent Registered Public Accounting Firm
The Board of Directors of Nationwide Life Insurance Company and subsidiaries and
Contract Owners of Nationwide VLI Separate Account-4:
We have audited the accompanying statement of assets, liabilities and contract owners equity of Nationwide VLI Separate Account-4 (comprised of the sub-accounts listed in note 1(b), (collectively, the Accounts)), as of December 31, 2016, and the related statements of operations for the period then ended, the statements of changes in contract owners equity for each of the periods in the two-year period then ended, and the financial highlights for each of the periods in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Accounts management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2016, by correspondence with the transfer agents of the underlying mutual funds or by other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Accounts as of December 31, 2016, the results of their operations for the period then ended, the changes in contract owners equity for each of the periods in the two-year period then ended, and the financial highlights for each of the periods in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.
/s/ KPMG LLP
Columbus, Ohio
March 21, 2017
NATIONWIDE VLI SEPARATE ACCOUNT-4
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS EQUITY
December 31, 2016
Assets: |
||||
Investments at fair value: |
||||
VPS Dynamic Asset Allocation Portfolio - Class A (ALVDAA) |
||||
2,522 shares (cost $29,610) |
$ | 29,325 | ||
VP Inflation Protection Fund - Class I (ACVIP1) |
||||
1,865,508 shares (cost $19,328,377) |
18,897,600 | |||
Asset Allocation Fund - Class 2 (AMVAA2) |
||||
378,930 shares (cost $8,093,590) |
8,143,198 | |||
Bond Fund - Class 2 (AMVBD2) |
||||
6,727,549 shares (cost $74,512,284) |
71,782,949 | |||
Global Small Capitalization Fund - Class 2 (AMVGS2) |
||||
65,648 shares (cost $1,553,163) |
1,294,582 | |||
Growth Fund - Class 2 (AMVGR2) |
||||
263,814 shares (cost $18,515,784) |
17,654,437 | |||
International Fund - Class 2 (AMVI2) |
||||
366,460 shares (cost $6,853,769) |
6,141,863 | |||
New World Fund - Class 2 (AMVNW2) |
||||
19,558 shares (cost $379,050) |
382,160 | |||
Variable Series Funds, Inc. - BlackRock High Yield V.I. Fund - Class I (BRVHYI) |
||||
679,774 shares (cost $4,763,176) |
4,921,562 | |||
Large Cap Core V.I. Fund - Class II (MLVLC2) |
||||
52,083 shares (cost $1,645,855) |
1,663,540 | |||
Global Allocation V.I. Fund - Class II (MLVGA2) |
||||
587,293 shares (cost $9,639,913) |
9,079,555 | |||
VP S&P 500 Index Portfolio (CVSPIP) |
||||
5,792 shares (cost $672,233) |
709,206 | |||
Value Portfolio (DAVVL) |
||||
398,182 shares (cost $4,142,137) |
3,623,456 | |||
VIP Emerging Markets Series: Service Class (DWVEMS) |
||||
172,762 shares (cost $3,063,235) |
3,088,983 | |||
VIP Small Cap Value Series: Service Class (DWVSVS) |
||||
469,688 shares (cost $17,366,691) |
18,632,517 | |||
VA Inflation-Protected Securities Portfolio (DFVIPS) |
||||
516,815 shares (cost $5,291,356) |
5,121,641 | |||
VA International Small Portfolio (DFVIS) |
||||
77,018 shares (cost $912,636) |
877,237 | |||
VA U.S. Targeted Value Portfolio (DFVUTV) |
||||
144,331 shares (cost $2,656,829) |
2,789,926 | |||
Stock Index Fund, Inc. - Initial Shares (DSIF) |
||||
10,432,529 shares (cost $386,194,929) |
478,435,765 | |||
Socially Responsible Growth Fund Inc - Initial Shares (DSRG) |
||||
297,991 shares (cost $9,540,457) |
11,281,923 | |||
Global Income Builder VIP - Class A (DSGIBA) |
||||
1,041 shares (cost $24,206) |
24,456 | |||
Floating-Rate Income Fund (ETVFR) |
||||
7,746,889 shares (cost $71,412,256) |
71,736,192 | |||
Franklin Income Securities Fund - Class 2 (FTVIS2) |
||||
437,768 shares (cost $6,852,226) |
6,732,871 | |||
Rising Dividends Securities Fund - Class 1 (FTVRDI) |
||||
652,058 shares (cost $16,354,368) |
16,633,997 | |||
Small Cap Value Securities Fund - Class 1 (FTVSVI) |
||||
545,631 shares (cost $9,570,190) |
10,874,429 | |||
Small Cap Value Securities Fund - Class 2 (FTVSV2) |
||||
566,934 shares (cost $10,658,451) |
10,975,852 | |||
Mutual Global Discovery Securities Fund - Class 2 (FTVMD2) |
||||
109,743 shares (cost $2,356,614) |
2,163,031 |
Templeton Developing Markets Securities Fund - Class 2 (FTVDM2) |
||||
327,867 shares (cost $2,902,090) |
2,413,102 | |||
Templeton Foreign Securities Fund - Class 1 (TIF) |
||||
71,339 shares (cost $1,065,796) |
990,903 | |||
Templeton Foreign Securities Fund - Class 2 (TIF2) |
||||
1,794,611 shares (cost $28,252,106) |
24,424,653 | |||
Templeton Global Bond Securities Fund - Class 2 (FTVGI2) |
||||
480,025 shares (cost $8,564,899) |
7,800,407 | |||
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2) |
||||
91,667 shares (cost $665,962) |
649,005 | |||
VIP Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1) |
||||
866,334 shares (cost $14,673,110) |
14,597,720 | |||
Van Kampen V.I. Mid Cap Growth Fund - Series I Shares (IVKMG1) |
||||
691,882 shares (cost $3,810,728) |
3,383,304 | |||
Balanced-Risk Allocation Fund: Series I Shares (IVBRA1) |
||||
131,083 shares (cost $1,493,140) |
1,486,484 | |||
Mid Cap Value Portfolio: Class 1 (JPMMV1) |
||||
3,075,441 shares (cost $32,158,470) |
33,768,341 | |||
Small Cap Core Portfolio 1 (JPSCE1) |
||||
4,673 shares (cost $93,250) |
105,104 | |||
Balanced Portfolio: Service Shares (JABS) |
||||
882,157 shares (cost $27,738,901) |
28,132,001 | |||
Enterprise Portfolio: Service Shares (JAMGS) |
||||
87,632 shares (cost $4,866,892) |
4,926,647 | |||
Flexible Bond Portfolio: Service Shares (JAFBS) |
||||
1,095,339 shares (cost $14,170,107) |
13,834,131 | |||
Forty Portfolio: Service Shares (JACAS) |
||||
1,334,736 shares (cost $47,906,724) |
41,096,537 | |||
Global Technology Portfolio: Service Shares (JAGTS) |
||||
1,765,830 shares (cost $13,356,675) |
14,991,896 | |||
Overseas Portfolio: Service Shares (JAIGS) |
||||
814,051 shares (cost $26,985,266) |
19,431,401 | |||
Perkins Mid Cap Value Portfolio: Service Shares (JAMVS) |
||||
88,917 shares (cost $1,381,240) |
1,431,563 | |||
Retirement Emerging Markets Equity Portfolio - Service Shares (LZREMS) |
||||
1,651,880 shares (cost $31,552,431) |
31,005,781 | |||
Lord Abbett Series Fund Inc. - Bond Debenture Portfolio: Class VC (LOVBD) |
||||
210,923 shares (cost $2,302,446) |
2,518,417 | |||
Lord Abbett Series Fund Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV) |
||||
4,636 shares (cost $120,463) |
118,299 | |||
Series Fund, Inc. - Total Return Portfolio - Class VC (LOVTRC) |
||||
697,385 shares (cost $11,741,263) |
11,458,036 | |||
Lord Abbett Series Fund Inc. - Short Duration Income Portfolio: Class VC (LOVSDC) |
||||
822,288 shares (cost $12,275,537) |
11,980,740 | |||
VIT II - MFS Blended Research Core Equity Portfolio - Service Class (MVBRES) |
||||
14,569 shares (cost $688,067) |
673,976 | |||
Var Insurance Trust II - MFS Investors Growth Stock Portfolio: Initial Class (MV2IGI) |
||||
184,515 shares (cost $3,196,333) |
2,837,847 | |||
Var Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS) |
||||
194,277 shares (cost $2,952,754) |
2,599,431 | |||
Variable Insurance Trust - MFS New Discovery Series - Intital Class (MNDIC) |
||||
20,915 shares (cost $343,084) |
338,410 | |||
New Discovery Series - Service Class (MNDSC) |
||||
5,272 shares (cost $77,657) |
79,140 | |||
Value Series - Initial Class (MVFIC) |
||||
634,482 shares (cost $10,753,058) |
11,991,705 | |||
Value Series - Service Class (MVFSC) |
||||
3,492,204 shares (cost $63,887,726) |
64,920,077 |
Variable Insurance Trust II - MFS International Value Portfolio - Service Class (MVIVSC) |
||||
3,707,369 shares (cost $76,838,527) |
82,414,814 | |||
Core Plus Fixed Income Portfolio - Class I (MSVFI) |
||||
187,688 shares (cost $1,986,782) |
2,002,634 | |||
Emerging Markets Debt Portfolio - Class I (MSEM) |
||||
2,784,828 shares (cost $23,512,002) |
21,693,813 | |||
Global Real Estate Portfolio - Class II (VKVGR2) |
||||
470,074 shares (cost $4,851,738) |
4,869,972 | |||
Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio - Class I (MSVMG) |
||||
637,233 shares (cost $6,761,274) |
5,556,668 | |||
Universal Institutional Funds, Inc. - Growth Portfolio - Class I (MSVEG) |
||||
64,971 shares (cost $1,815,454) |
1,601,529 | |||
U.S. Real Estate Portfolio - Class I (MSVRE) |
||||
853,852 shares (cost $16,269,390) |
18,263,898 | |||
NVIT Investor Destinations Managed Growth and Income Class I (IDPGI) |
||||
77 shares (cost $826) |
804 | |||
NVIT Cardinal Managed Growth and Income Class I (NCPGI) |
||||
79 shares (cost $825) |
804 | |||
NVIT Cardinal Managed Growth Class I (NCPG) |
||||
4,754 shares (cost $48,767) |
48,253 | |||
NVIT Bond Index Fund Class I (NVBX) |
||||
9,547,955 shares (cost $102,733,537) |
98,725,850 | |||
NVIT International Index Fund Class I (NVIX) |
||||
3,005,244 shares (cost $26,400,716) |
25,664,786 | |||
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1) |
||||
2,515,961 shares (cost $38,430,580) |
41,186,276 | |||
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2) |
||||
391,172 shares (cost $8,649,271) |
9,262,941 | |||
American Funds NVIT Bond Fund - Class II (GVABD2) |
||||
121,416 shares (cost $1,414,627) |
1,373,214 | |||
American Funds NVIT Global Growth Fund - Class II (GVAGG2) |
||||
276,664 shares (cost $7,565,160) |
7,303,931 | |||
American Funds NVIT Growth Fund - Class II (GVAGR2) |
||||
131,233 shares (cost $8,556,273) |
9,767,644 | |||
American Funds NVIT Growth-Income Fund - Class II (GVAGI2) |
||||
63,437 shares (cost $2,901,880) |
3,277,773 | |||
Federated NVIT High Income Bond Fund - Class I (HIBF) |
||||
3,393,874 shares (cost $22,851,305) |
22,161,996 | |||
NVIT Emerging Markets Fund - Class I (GEM) |
||||
1,249,591 shares (cost $13,720,939) |
12,233,497 | |||
NVIT International Equity Fund - Class I (GIG) |
||||
1,763,416 shares (cost $18,305,930) |
16,611,376 | |||
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6) |
||||
20,082 shares (cost $169,746) |
187,768 | |||
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1) |
||||
1,630,815 shares (cost $14,521,706) |
15,835,213 | |||
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1) |
||||
19,337 shares (cost $282,925) |
254,286 | |||
NVIT Cardinal Aggressive Fund - Class I (NVCRA1) |
||||
420,976 shares (cost $4,160,918) |
3,902,444 | |||
NVIT Cardinal Balanced Fund - Class I (NVCRB1) |
||||
16,615,722 shares (cost $173,500,844) |
179,948,267 | |||
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1) |
||||
606,111 shares (cost $6,854,376) |
6,261,125 | |||
NVIT Cardinal Conservative Fund - Class I (NVCCN1) |
||||
399,257 shares (cost $4,183,131) |
3,980,593 | |||
NVIT Cardinal Moderate Fund - Class I (NVCMD1) |
||||
658,054 shares (cost $7,510,581) |
6,922,724 |
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1) |
||||
745,012 shares (cost $7,768,726) |
6,816,856 | |||
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1) |
||||
414,301 shares (cost $4,661,722) |
4,358,446 | |||
NVIT Core Bond Fund - Class I (NVCBD1) |
||||
154,825 shares (cost $1,707,980) |
1,650,434 | |||
NVIT Core Plus Bond Fund - Class I (NVLCP1) |
||||
199,895 shares (cost $2,294,388) |
2,222,834 | |||
NVIT Nationwide Fund - Class I (TRF) |
||||
8,222,868 shares (cost $89,194,176) |
131,648,112 | |||
NVIT Government Bond Fund - Class I (GBF) |
||||
4,956,368 shares (cost $55,867,308) |
53,132,260 | |||
NVIT International Index Fund - Class II (GVIX2) |
||||
270,355 shares (cost $2,565,771) |
2,308,830 | |||
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA) |
||||
1,851,454 shares (cost $20,281,185) |
23,254,258 | |||
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2) |
||||
105,216 shares (cost $1,584,907) |
1,590,863 | |||
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2) |
||||
44,466 shares (cost $785,307) |
758,592 | |||
NVIT Investor Destinations Conservative Fund - Class II (GVIDC) |
||||
1,390,968 shares (cost $14,367,965) |
13,812,309 | |||
NVIT Investor Destinations Moderate Fund - Class II (GVIDM) |
||||
5,044,848 shares (cost $55,479,998) |
62,909,259 | |||
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA) |
||||
6,596,756 shares (cost $73,386,701) |
86,549,441 | |||
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC) |
||||
1,526,157 shares (cost $16,898,901) |
16,894,558 | |||
NVIT Mid Cap Index Fund - Class I (MCIF) |
||||
4,439,493 shares (cost $97,065,820) |
107,613,309 | |||
NVIT Money Market Fund - Class I (SAM) |
||||
46,054,585 shares (cost $46,054,585) |
46,054,585 | |||
NVIT Money Market Fund - Class V (SAM5) |
||||
149,888,754 shares (cost $149,888,754) |
149,888,754 | |||
NVIT Multi-Manager International Growth Fund - Class I (NVMIG1) |
||||
1,455,290 shares (cost $17,089,719) |
14,087,211 | |||
NVIT Multi-Manager International Value Fund - Class I (GVDIVI) |
||||
485,907 shares (cost $5,310,028) |
4,684,143 | |||
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1) |
||||
1,085,630 shares (cost $12,205,099) |
11,876,795 | |||
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1) |
||||
1,807,143 shares (cost $18,730,828) |
18,396,719 | |||
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1) |
||||
4,329,375 shares (cost $45,181,551) |
43,899,865 | |||
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1) |
||||
123,135 shares (cost $1,334,417) |
1,306,467 | |||
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2) |
||||
1,338,290 shares (cost $14,483,729) |
14,252,785 | |||
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF) |
||||
1,162,778 shares (cost $20,775,224) |
18,116,080 | |||
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF) |
||||
2,940,662 shares (cost $35,075,401) |
43,757,056 | |||
NVIT Multi-Manager Small Company Fund - Class I (SCF) |
||||
2,159,709 shares (cost $43,301,945) |
46,368,946 | |||
NVIT Multi-Sector Bond Fund - Class I (MSBF) |
||||
1,304,558 shares (cost $11,961,342) |
11,910,611 | |||
NVIT Short Term Bond Fund - Class I (NVSTB1) |
||||
3,134,141 shares (cost $32,725,969) |
32,218,966 |
NVIT Short Term Bond Fund - Class II (NVSTB2) |
||||
118,388 shares (cost $1,233,784) |
1,212,295 | |||
NVIT Large Cap Growth Fund - Class I (NVOLG1) |
||||
8,485,076 shares (cost $143,376,732) |
134,997,557 | |||
Templeton NVIT International Value Fund - Class III (NVTIV3) |
||||
53,597 shares (cost $650,266) |
569,195 | |||
Invesco NVIT Comstock Value Fund - Class I (EIF) |
||||
650,132 shares (cost $7,651,829) |
11,422,819 | |||
NVIT Real Estate Fund - Class I (NVRE1) |
||||
5,084,024 shares (cost $40,035,951) |
32,029,352 | |||
Loring Ward NVIT Capital Appreciation Fund - Class P (NVLCAP) |
||||
3,641 shares (cost $37,318) |
40,963 | |||
Loring Ward NVIT Moderate Fund - Class P (NVLMP) |
||||
662 shares (cost $7,308) |
7,620 | |||
NVIT Small Cap Index Fund Class II (NVSIX2) |
||||
73,832 shares (cost $917,327) |
919,214 | |||
NVIT S&P 500 Index Fund Class I (GVEX1) |
||||
335,948 shares (cost $4,876,346) |
5,056,024 | |||
Short Duration Bond Portfolio - I Class Shares (AMTB) |
||||
375,814 shares (cost $4,035,502) |
3,953,562 | |||
Guardian Portfolio - I Class Shares (AMGP) |
||||
46,155 shares (cost $817,376) |
676,627 | |||
Mid-Cap Growth Portfolio - I Class Shares (AMCG) |
||||
83,031 shares (cost $1,928,961) |
1,877,338 | |||
Mid-Cap Growth Portfolio - S Class Shares (AMMCGS) |
||||
48,526 shares (cost $1,071,520) |
1,024,866 | |||
Advisers Management Trust: Large Cap Value Portfolio - Class I (AMTP) |
||||
20,603 shares (cost $301,817) |
313,985 | |||
Advisers Management Trust: Mid Cap Intrinsic Value Portfolio - Class I (AMRI) |
||||
331,278 shares (cost $4,770,451) |
5,601,903 | |||
Socially Responsive Portfolio - I Class Shares (AMSRS) |
||||
90,699 shares (cost $1,551,700) |
2,047,077 | |||
TOPS Managed Risk Balanced ETF Portfolio - Class 3 (NOTB3) |
||||
3,340 shares (cost $39,453) |
37,575 | |||
TOPS Managed Risk Growth ETF Portfolio - Class 3 (NOTG3) |
||||
2,867 shares (cost $30,188) |
31,077 | |||
TOPS Managed Risk Moderate Growth ETF Portfolio - Class 3 (NOTMG3) |
||||
3,862 shares (cost $42,283) |
43,529 | |||
VPS Growth and Income Portfolio - Class A (ALVGIA) |
||||
791,167 shares (cost $23,017,102) |
24,692,309 | |||
VPS International Value Portfolio - Class A (ALVIVA) |
||||
680,140 shares (cost $9,453,734) |
9,032,262 | |||
VPS Small/Mid Cap Value Portfolio - Class A (ALVSVA) |
||||
1,042,151 shares (cost $21,125,398) |
21,145,237 | |||
VP Capital Appreciation Fund - Class I (ACVCA) |
||||
45,989 shares (cost $649,930) |
642,933 | |||
VP Income & Growth Fund - Class I (ACVIG) |
||||
2,051,104 shares (cost $14,606,266) |
19,116,291 | |||
VP Inflation Protection Fund - Class II (ACVIP2) |
||||
921,938 shares (cost $10,065,920) |
9,320,790 | |||
VP International Fund - Class I (ACVI) |
||||
380,959 shares (cost $3,716,384) |
3,569,588 | |||
VP Mid Cap Value Fund - Class I (ACVMV1) |
||||
891,924 shares (cost $16,884,071) |
18,828,508 | |||
VP Ultra(R) Fund - Class I (ACVU1) |
||||
37,269 shares (cost $575,035) |
575,812 | |||
VP Value Fund - Class I (ACVV) |
||||
2,447,577 shares (cost $22,758,819) |
25,650,604 |
MidCap Stock Portfolio - Initial Shares (DVMCS) |
||||
128,580 shares (cost $2,577,347) |
2,583,182 | |||
Small Cap Stock Index Portfolio - Service Shares (DVSCS) |
||||
5,637,340 shares (cost $93,680,048) |
106,432,980 | |||
Appreciation Portfolio - Initial Shares (DCAP) |
||||
462,446 shares (cost $19,872,356) |
18,964,911 | |||
Opportunistic Small Cap Portfolio: Initial Shares (DSC) |
||||
21,240 shares (cost $918,229) |
1,050,109 | |||
International Value Portfolio - Initial Shares (DVIV) |
||||
335,588 shares (cost $3,689,265) |
3,255,199 | |||
Variable Series II - DWS Small Mid Cap Value VIP - Class B (SVSSVB) |
||||
13,198 shares (cost $204,113) |
219,474 | |||
Variable Series II - DWS Large Cap Value VIP - Class B (SVSLVB) |
||||
5,739 shares (cost $86,373) |
79,085 | |||
Managed Tail Risk Fund II: Primary Shares (FVCA2P) |
||||
140,835 shares (cost $819,339) |
677,415 | |||
Quality Bond Fund II - Primary Shares (FQB) |
||||
2,230,268 shares (cost $25,231,484) |
24,488,343 | |||
VIP Contrafund(R) Portfolio - Service Class (FCS) |
||||
905,263 shares (cost $30,223,075) |
29,909,875 | |||
VIP Energy Portfolio - Service Class 2 (FNRS2) |
||||
395,730 shares (cost $8,134,686) |
8,159,943 | |||
VIP Equity-Income Portfolio - Service Class (FEIS) |
||||
2,757,810 shares (cost $57,133,011) |
60,285,731 | |||
VIP Freedom Fund 2010 Portfolio - Service Class (FF10S) |
||||
187,736 shares (cost $2,204,194) |
2,307,281 | |||
VIP Freedom Fund 2020 Portfolio - Service Class (FF20S) |
||||
2,636,228 shares (cost $32,704,463) |
33,031,931 | |||
VIP Freedom Fund 2030 Portfolio - Service Class (FF30S) |
||||
1,247,471 shares (cost $15,707,758) |
15,880,306 | |||
VIP Freedom Income Fund Portfolio - Service Class (FFINS) |
||||
88,007 shares (cost $964,600) |
965,437 | |||
VIP Growth Opportunities Portfolio - Service Class (FGOS) |
||||
7,266 shares (cost $249,594) |
225,252 | |||
VIP Growth Portfolio - Service Class (FGS) |
||||
1,453,189 shares (cost $62,304,422) |
85,883,470 | |||
VIP High Income Portfolio - Service Class (FHIS) |
||||
2,525,051 shares (cost $14,222,992) |
13,483,771 | |||
VIP Index 500 Portfolio - Initial Class (FIP) |
||||
222,874 shares (cost $40,239,472) |
50,692,699 | |||
VIP Investment Grade Bond Portfolio - Service Class (FIGBS) |
||||
14,892,347 shares (cost $190,539,011) |
186,154,337 | |||
VIP Mid Cap Portfolio - Service Class (FMCS) |
||||
1,190,552 shares (cost $39,624,944) |
40,121,602 | |||
VIP Money Market Portfolio - Initial Class (FMMP) |
||||
9,352,801 shares (cost $9,352,801) |
9,352,801 | |||
VIP Overseas Portfolio - Service Class (FOS) |
||||
864,173 shares (cost $17,259,029) |
15,330,429 | |||
VIP Value Strategies Portfolio - Service Class (FVSS) |
||||
218,426 shares (cost $2,877,229) |
3,438,023 | |||
VIP Fidelity VIP Freedom Fund 2005 Portfolio - Service Class (FF05S) |
||||
28,659 shares (cost $330,826) |
331,868 | |||
VIP Fidelity VIP Freedom Fund 2015 Portfolio - Service Class (FF15S) |
||||
656,175 shares (cost $8,226,968) |
8,116,883 | |||
VIP Fidelity VIP Freedom Fund 2025 Portfolio - Service Class (FF25S) |
||||
1,380,516 shares (cost $17,748,568) |
17,836,267 | |||
VIP Fidelity VIP Freedom Fund 2040 Portfolio - Service Class (FF40S) |
||||
460,724 shares (cost $8,390,200) |
8,463,507 |
Mid Cap Value- Institutional Shares (GVMCE) |
||||
1,502,408 shares (cost $23,996,240) |
24,384,076 | |||
Goldman Sachs Structured Small Cap Equity Fund (GVCSE) |
||||
41,188 shares (cost $565,412) |
567,984 | |||
VIT Growth Opportunities Fund - Service Shares (GVGOPS) |
||||
186,412 shares (cost $1,281,146) |
1,254,551 | |||
Goldman Sachs Global Markets Navigator Fund - Service Shares (GVGMNS) |
||||
1,669 shares (cost $20,128) |
18,897 | |||
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG) |
||||
574,154 shares (cost $12,287,406) |
12,235,219 | |||
Baron Growth Opportunities Fund Service Class (BNCAI) |
||||
137,859 shares (cost $5,963,741) |
5,538,067 | |||
Capital Appreciation Fund/VA - Non-Service Shares (OVGR) |
||||
211,869 shares (cost $11,033,666) |
10,245,997 | |||
Global Securities Fund/VA - Non-Service Shares (OVGS) |
||||
1,971,566 shares (cost $72,887,546) |
69,044,225 | |||
International Growth Fund/VA - Non-Service Shares (OVIG) |
||||
6,483,026 shares (cost $14,271,203) |
13,484,695 | |||
Main Street Fund(R)/VA - Non-Service Shares (OVGI) |
||||
1,155,780 shares (cost $27,178,308) |
32,835,703 | |||
Main Street Small- & Mid-Cap Fund(R)/VA - Non-Service Shares (OVSC) |
||||
294,440 shares (cost $7,071,617) |
7,090,118 | |||
Discovery Mid Cap Growth Fund/VA - Non-Service Shares (OVAG) |
||||
331,136 shares (cost $16,947,232) |
24,057,020 | |||
Global Strategic Income Fund/VA: Non-service Shares (OVSB) |
||||
3,548,143 shares (cost $18,931,856) |
17,527,828 | |||
All Asset Portfolio - Administrative Class (PMVAAA) |
||||
2,202,983 shares (cost $22,984,035) |
22,051,859 | |||
CommodityRealReturn(R) Strategy Portfolio - Administrative Class (PMVRSA) |
||||
21,477 shares (cost $155,312) |
169,021 | |||
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA) |
||||
136,461 shares (cost $1,357,353) |
1,334,592 | |||
Long-Term U.S. Government Portfolio - Administrative Class (PMVLGA) |
||||
114,265 shares (cost $1,421,602) |
1,312,906 | |||
Low Duration Portfolio - Administrative Class (PMVLDA) |
||||
3,868,685 shares (cost $40,531,843) |
39,615,336 | |||
Real Return Portfolio - Administrative Class (PMVRRA) |
||||
4,513,512 shares (cost $57,487,746) |
55,380,795 | |||
Total Return Portfolio - Administrative Class (PMVTRA) |
||||
7,456,014 shares (cost $82,189,765) |
79,331,992 | |||
Pioneer Emerging Markets VCT Portfolio - Class I Shares (PIVEMI) |
||||
23,516 shares (cost $384,929) |
379,311 | |||
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1) |
||||
508,792 shares (cost $4,920,862) |
4,731,765 | |||
VT Growth & Income Fund: Class IB (PVGIB) |
||||
36,673 shares (cost $842,270) |
953,127 | |||
VT Growth Opportunities Fund: Class IB (PVGOB) |
||||
150,579 shares (cost $1,155,592) |
1,163,973 | |||
VT International Equity Fund: Class IB (PVTIGB) |
||||
67,402 shares (cost $870,476) |
831,062 | |||
VT Small Cap Value Fund: Class IB (PVTSCB) |
||||
63,412 shares (cost $905,710) |
998,737 | |||
VI Growth and Income Fund - Series I Shares (ACGI) |
||||
277,763 shares (cost $5,999,235) |
5,846,905 | |||
VI American Franchise Fund - Series I Shares (ACEG) |
||||
20,660 shares (cost $1,003,251) |
1,106,972 | |||
VI Value Opportunities Fund - Series I Shares (AVBVI) |
||||
74 shares (cost $480) |
479 |
VI High Yield Fund - Series I Shares (AVHY1) |
||||
2,651,397 shares (cost $14,667,545) |
14,317,545 | |||
VI International Growth Fund - Series I Shares (AVIE) |
||||
1,308,681 shares (cost $44,801,872) |
43,042,503 | |||
VI Mid Cap Core Equity Fund: Series I Shares (AVMCCI) |
||||
26,846 shares (cost $342,985) |
345,510 | |||
VI Small Cap Equity Fund - Series I Shares (AVSCE) |
||||
14,114 shares (cost $248,879) |
259,407 | |||
Micro-Cap Portfolio - Investment Class (ROCMC) |
||||
564,740 shares (cost $6,004,690) |
6,274,262 | |||
Variable Fund - Multi-Hedge Strategies (RVARS) |
||||
22,157 shares (cost $531,325) |
530,651 | |||
Equity Income Portfolio - II (TREI2) |
||||
983,172 shares (cost $28,167,011) |
27,774,615 | |||
Health Sciences Portfolio - II (TRHS2) |
||||
660,161 shares (cost $24,031,293) |
22,036,170 | |||
Limited-Term Bond Portfolio (TRLT1) |
||||
3,186,008 shares (cost $15,494,588) |
15,420,280 | |||
Mid-Cap Growth Portfolio - II (TRMCG2) |
||||
927,348 shares (cost $25,353,463) |
22,859,135 | |||
New America Growth Portfolio (TRNAG1) |
||||
1,493,421 shares (cost $37,416,507) |
35,110,321 | |||
Personal Strategy Balanced Portfolio (TRPSB1) |
||||
207,672 shares (cost $4,071,316) |
3,981,076 | |||
Blue Chip Growth Portfolio (TRBCGP) |
||||
2,053,315 shares (cost $44,737,252) |
47,616,380 | |||
VIP Trust Emerging Markets Fund - Initial Class (VWEM) |
||||
759,075 shares (cost $9,594,166) |
7,894,381 | |||
VIP Trust Global Hard Assets Fund - Initial Class (VWHA) |
||||
1,328,119 shares (cost $31,632,214) |
32,060,787 | |||
Variable Insurance Fund - Balanced Portfolio (VVB) |
||||
405,756 shares (cost $9,005,182) |
9,344,553 | |||
Insurance Fund - Capital Growth Portfolio (VVCG) |
||||
416,501 shares (cost $10,976,739) |
11,811,965 | |||
Variable Insurance Fund - Diversified Value Portfolio (VVDV) |
||||
805,233 shares (cost $12,166,547) |
13,777,535 | |||
Variable Insurance Fund - International Portfolio (VVI) |
||||
412,673 shares (cost $8,671,936) |
8,059,498 | |||
Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI) |
||||
1,286,278 shares (cost $26,090,572) |
27,153,337 | |||
Variable Insurance Fund - REIT Index Portfolio (VVREI) |
||||
684,029 shares (cost $8,784,912) |
9,220,706 | |||
Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC) |
||||
564,799 shares (cost $5,980,568) |
6,003,812 | |||
Variable Insurance Fund - Small Company Growth Portfolio (VVSCG) |
||||
211,007 shares (cost $4,764,940) |
4,536,661 | |||
Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB) |
||||
1,948,847 shares (cost $23,260,955) |
22,937,928 | |||
Variable Insurance Portfolios - Asset Strategy (WRASP) |
||||
947,578 shares (cost $8,938,565) |
7,622,314 | |||
Variable Insurance Portfolios - Growth (WRGP) |
||||
1,589,389 shares (cost $17,877,423) |
16,376,266 | |||
Variable Insurance Portfolios - High Income (WRHIP) |
||||
10,602,439 shares (cost $40,717,388) |
38,252,540 | |||
Variable Insurance Portfolios - Mid Cap Growth (WRMCG) |
||||
445,016 shares (cost $4,476,286) |
4,199,927 | |||
Variable Insurance Portfolios - Real Estate Securities (WRRESP) |
||||
1,039,219 shares (cost $8,938,445) |
8,724,553 |
Variable Insurance Portfolios - Science and Technology (WRSTP) |
||||
601,972 shares (cost $14,097,350) |
13,447,823 | |||
Wells Fargo Variable Trust - VT Discovery Fund: Class 2 (SVDF) |
||||
540,127 shares (cost $15,518,992) |
13,994,684 | |||
Advantage VT Opportunity Fund - Class 2 (SVOF) |
||||
244,075 shares (cost $6,703,527) |
6,021,326 | |||
Advantage VT Small Cap Growth Fund - Class 2 (WFVSCG) |
||||
553,722 shares (cost $5,115,099) |
4,612,507 | |||
|
|
|||
Total Investments |
$ | 4,732,604,741 | ||
|
|
|||
Other Accounts Receivable |
54,134 | |||
Accounts Receivable - VP International Fund - Class I (ACVI) |
10,254 | |||
Accounts Receivable - VP Inflation Protection Fund - Class I (ACVIP1) |
8,513 | |||
Accounts Receivable - Mid-Cap Growth Portfolio - I Class Shares (AMCG) |
1,086 | |||
Accounts Receivable - Variable Series Funds, Inc. - BlackRock High Yield V.I. Fund - Class I (BRVHYI) |
19,435 | |||
Accounts Receivable - Socially Responsible Growth Fund Inc - Initial Shares (DSRG) |
12,852 | |||
Accounts Receivable - International Value Portfolio - Initial Shares (DVIV) |
8 | |||
Accounts Receivable - VIP Contrafund(R) Portfolio - Service Class (FCS) |
190,348 | |||
Accounts Receivable - VIP Growth Opportunities Portfolio - Service Class (FGOS) |
126,062 | |||
Accounts Receivable - VIP Growth Portfolio - Service Class (FGS) |
122,371 | |||
Accounts Receivable - NVIT Investor Destinations Managed Growth and Income Class I (IDPGI) |
2 | |||
Accounts Receivable - Perkins Mid Cap Value Portfolio: Service Shares (JAMVS) |
533 | |||
Accounts Receivable - Discovery Mid Cap Growth Fund/VA - Non-Service Shares (OVAG) |
84,271 | |||
Accounts Receivable - Capital Appreciation Fund/VA - Non-Service Shares (OVGR) |
27,196 | |||
Accounts Receivable - Variable Series II - DWS Large Cap Value VIP - Class B (SVSLVB) |
5 | |||
Accounts Payable - Advisers Management Trust: Large Cap Value Portfolio - Class I (AMTP) |
(547 | ) | ||
Accounts Payable - VI Value Opportunities Fund - Series I Shares (AVBVI) |
(3 | ) | ||
Accounts Payable - Opportunistic Small Cap Portfolio: Initial Shares (DSC) |
(8 | ) | ||
Accounts Payable - Loring Ward NVIT Moderate Fund - Class P (NVLMP) |
(4 | ) | ||
Accounts Payable - NVIT Money Market Fund - Class I (SAM) |
(161,434 | ) | ||
Accounts Payable - Variable Series II - DWS Small Mid Cap Value VIP - Class B (SVSSVB) |
(2 | ) | ||
|
|
|||
$ | 4,733,099,813 | |||
|
|
|||
Contract Owners Equity: |
| |||
Accumulation units |
4,733,099,813 | |||
|
|
|||
Total Contract Owners Equity (note 8) |
$ | 4,733,099,813 | ||
|
|
See accompanying notes to financial statements.
NATIONWIDE VLI SEPARATE ACCOUNT-4
STATEMENT OF OPERATIONS
Year Ended December 31, 2016
Investment Activity: | Total | ALVDAA | ACVIP1 | AMVAA2 | AMVBD2 | AMVGS2 | AMVGR2 | AMVI2 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 75,222,169 | 229 | 237,462 | 115,033 | 1,222,073 | 3,217 | 138,313 | 83,310 | |||||||||||||||||||||||
Asset charges (note 3) |
(5,848,156 | ) | - | (24,386 | ) | (12,976 | ) | (72,695 | ) | (2,761 | ) | (42,357 | ) | (13,160 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
69,374,013 | 229 | 213,076 | 102,057 | 1,149,378 | 456 | 95,956 | 70,150 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
46,700,180 | (1,555 | ) | (117,230 | ) | 41,453 | (11,246 | ) | (95,724 | ) | 152,600 | (226,694 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
32,203,948 | 2,087 | (51,762 | ) | 289,198 | 617,286 | (127,729 | ) | (171,097 | ) | (83,550 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
78,904,128 | 532 | (168,992 | ) | 330,651 | 606,040 | (223,453 | ) | (18,497 | ) | (310,244 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
206,359,654 | 6 | 47,854 | 151,298 | 251,767 | 228,140 | 1,617,818 | 463,255 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 354,637,795 | 767 | 91,938 | 584,006 | 2,007,185 | 5,143 | 1,695,277 | 223,161 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | AMVNW2 | BRVHYI | MLVLC2 | MLVGA2 | CVSPIP | DAVVL | DWVEMS | DWVSVS | ||||||||||||||||||||||||
Reinvested dividends |
$ | 1,852 | 238,793 | 17,650 | 101,869 | 8,417 | 45,626 | 18,800 | 107,697 | |||||||||||||||||||||||
Asset charges (note 3) |
(77 | ) | (6,351 | ) | (4,261 | ) | - | (1,450 | ) | (3,656 | ) | (6,162 | ) | (33,940 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
1,775 | 232,442 | 13,389 | 101,869 | 6,967 | 41,970 | 12,638 | 73,757 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(50 | ) | (57,340 | ) | (87,939 | ) | (25,132 | ) | 43 | (280,753 | ) | (118,539 | ) | (395,736 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
3,110 | 351,867 | 128,244 | 280,171 | 49,896 | 101,850 | 345,215 | 3,291,330 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
3,060 | 294,527 | 40,305 | 255,039 | 49,939 | (178,903 | ) | 226,676 | 2,895,594 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | - | 121,562 | - | 6,423 | 546,456 | 49,432 | 1,340,874 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 4,835 | 526,969 | 175,256 | 356,908 | 63,329 | 409,523 | 288,746 | 4,310,225 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | DFVIPS | DFVIS | DFVUTV | DSIF | DSRG | DSGIBA | ETVFR | FTVIS2 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 67,527 | 21,180 | 21,270 | 9,100,542 | 140,443 | - | 2,408,188 | 332,764 | |||||||||||||||||||||||
Asset charges (note 3) |
(2,394 | ) | (1,915 | ) | (3,884 | ) | (657,957 | ) | (873 | ) | - | (95,625 | ) | - | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
65,133 | 19,265 | 17,386 | 8,442,585 | 139,570 | - | 2,312,563 | 332,764 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(17,693 | ) | (23,621 | ) | (95,160 | ) | 27,801,793 | 351,441 | 17 | (766,721 | ) | (14,949 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(169,715 | ) | 45,959 | 449,548 | (2,033,461 | ) | (480,482 | ) | 250 | 4,475,338 | 583,734 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(187,408 | ) | 22,338 | 354,388 | 25,768,332 | (129,041 | ) | 267 | 3,708,617 | 568,785 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
3,543 | 7,368 | 75,515 | 15,562,830 | 1,067,074 | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (118,732 | ) | 48,971 | 447,289 | 49,773,747 | 1,077,603 | 267 | 6,021,180 | 901,549 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | FTVRDI | FTVSVI | FTVSV2 | FTVMD2 | FTVDM2 | TIF | TIF2 | FTVGI2 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 254,151 | 97,560 | 82,437 | 34,924 | 18,557 | 20,892 | 469,448 | - | |||||||||||||||||||||||
Asset charges (note 3) |
- | - | (23,931 | ) | (1,290 | ) | - | - | (40,580 | ) | (2,444 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
254,151 | 97,560 | 58,506 | 33,634 | 18,557 | 20,892 | 428,868 | (2,444 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
683,137 | 433,255 | (1,064,788 | ) | (123,269 | ) | (200,815 | ) | (8,906 | ) | (404,491 | ) | (885,426 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
(422,179 | ) | 685,005 | 2,218,341 | 166,394 | 534,408 | 38,695 | 1,173,881 | 1,061,378 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
260,958 | 1,118,260 | 1,153,553 | 43,125 | 333,593 | 29,789 | 769,390 | 175,952 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
1,847,519 | 1,351,260 | 1,514,968 | 165,605 | - | 16,379 | 420,475 | 8,984 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 2,362,628 | 2,567,080 | 2,727,027 | 242,364 | 352,150 | 67,060 | 1,618,733 | 182,492 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | FTVFA2 | FTVGB1 | IVKMG1 | IVBRA1 | JPMMV1 | JPSCE1 | JABS | JAMGS | ||||||||||||||||||||||||
Reinvested dividends |
$ | 24,446 | - | - | 4,578 | 144,775 | 320 | 535,889 | 13,568 | |||||||||||||||||||||||
Asset charges (note 3) |
- | (26,745 | ) | (2,421 | ) | - | (41,540 | ) | (170 | ) | (48,467 | ) | (4,376 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
24,446 | (26,745 | ) | (2,421 | ) | 4,578 | 103,235 | 150 | 487,422 | 9,192 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(2,034 | ) | (1,005,312 | ) | 367,992 | (43,310 | ) | 84,083 | 53 | 371,249 | (8,289 | ) | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
34,141 | 1,472,530 | (746,090 | ) | 110,463 | 2,027,483 | 11,963 | (33,133 | ) | 59,755 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
32,107 | 467,218 | (378,098 | ) | 67,153 | 2,111,566 | 12,016 | 338,116 | 51,466 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
20,693 | 11,364 | 349,893 | - | 866,641 | 5,001 | 380,816 | 139,121 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 77,246 | 451,837 | (30,626 | ) | 71,731 | 3,081,442 | 17,167 | 1,206,354 | 199,779 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | JAFBS | JACAS | JAGTS | JAIGS | JAMVS | LZREMS | LOVBD | LOVMCV | ||||||||||||||||||||||||
Reinvested dividends |
$ | 310,537 | 374,895 | 13,235 | 1,025,199 | 14,616 | 314,707 | 111,454 | 563 | |||||||||||||||||||||||
Asset charges (note 3) |
(28,815 | ) | (29,372 | ) | (4,743 | ) | (10,491 | ) | (3,349 | ) | (61,895 | ) | (5,551 | ) | (252 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
281,722 | 345,523 | 8,492 | 1,014,708 | 11,267 | 252,812 | 105,903 | 311 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(87,233 | ) | (897,545 | ) | 604,628 | (2,062,735 | ) | (259,699 | ) | (1,702,967 | ) | (2,539 | ) | (430 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
19,203 | (4,252,129 | ) | 679,227 | (967,714 | ) | 305,306 | 7,204,148 | 239,149 | 10,809 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(68,030 | ) | (5,149,674 | ) | 1,283,855 | (3,030,449 | ) | 45,607 | 5,501,181 | 236,610 | 10,379 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | 5,577,646 | 511,313 | 580,615 | 240,070 | - | - | 6,385 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 213,692 | 773,495 | 1,803,660 | (1,435,126 | ) | 296,944 | 5,753,993 | 342,513 | 17,075 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | LOVTRC | LOVSDC | MVBRES | MV2IGI | MV2RIS | MNDIC | MNDSC | MVFIC | ||||||||||||||||||||||||
Reinvested dividends |
$ | 300,212 | 303,269 | 9,496 | 17,384 | 35,430 | - | - | 231,520 | |||||||||||||||||||||||
Asset charges (note 3) |
(18,896 | ) | (8,112 | ) | (1,925 | ) | - | (6,513 | ) | - | (256 | ) | - | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
281,316 | 295,157 | 7,571 | 17,384 | 28,917 | - | (256 | ) | 231,520 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
2,501 | 1,360 | (46,203 | ) | (45,205 | ) | (38,030 | ) | (53,719 | ) | (49,918 | ) | 386,332 | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(67,178 | ) | (294,797 | ) | 18,562 | (135,306 | ) | (24,100 | ) | 63,817 | 35,371 | (78,359 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(64,677 | ) | (293,437 | ) | (27,641 | ) | (180,511 | ) | (62,130 | ) | 10,098 | (14,547 | ) | 307,973 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
43,581 | - | 78,664 | 335,460 | - | 14,797 | 4,306 | 894,276 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 260,220 | 1,720 | 58,594 | 172,333 | (33,213 | ) | 24,895 | (10,497 | ) | 1,433,769 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | MVFSC | MVIVSC | MSVFI | MSEM | VKVGR2 | MSVMG | MSVEG | MSVRE | ||||||||||||||||||||||||
Reinvested dividends |
$ | 1,084,204 | 925,736 | 39,727 | 1,976,313 | 74,775 | - | - | 262,794 | |||||||||||||||||||||||
Asset charges (note 3) |
(118,700 | ) | (165,322 | ) | - | (28,099 | ) | (12,116 | ) | (15,593 | ) | (3,172 | ) | (39,520 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
965,504 | 760,414 | 39,727 | 1,948,214 | 62,659 | (15,593 | ) | (3,172 | ) | 223,274 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
1,359,038 | 3,141,015 | 20,892 | (870,142 | ) | 178,466 | (1,835,295 | ) | 7,923 | 2,089,195 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
592,887 | (2,785,489 | ) | 40,199 | 2,499,907 | (57,078 | ) | 825,277 | (270,212 | ) | (1,046,284 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
1,951,925 | 355,526 | 61,091 | 1,629,765 | 121,388 | (1,010,018 | ) | (262,289 | ) | 1,042,911 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
4,787,257 | 1,871,728 | - | - | - | 329,968 | 251,337 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 7,704,686 | 2,987,668 | 100,818 | 3,577,979 | 184,047 | (695,643 | ) | (14,124 | ) | 1,266,185 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | IDPGI | IDPG | NCPGI | NCPG | NVBX | NVIX | NVAMV1 | GVAAA2 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 15 | 56 | 14 | 1,603 | 2,265,017 | 707,295 | 899,308 | 172,460 | |||||||||||||||||||||||
Asset charges (note 3) |
- | - | - | - | (169,601 | ) | (44,294 | ) | - | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
15 | 56 | 14 | 1,603 | 2,095,416 | 663,001 | 899,308 | 172,460 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
- | (1,347 | ) | 70 | (1,431 | ) | (114,780 | ) | (1,009,193 | ) | 348,874 | 549,210 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(21 | ) | 3,568 | (21 | ) | 3,247 | (311,640 | ) | 737,391 | 2,121,293 | (492,088 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(21 | ) | 2,221 | 49 | 1,816 | (426,420 | ) | (271,802 | ) | 2,470,167 | 57,122 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | - | - | - | 207,636 | - | 3,723,802 | 546,241 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (6 | ) | 2,277 | 63 | 3,419 | 1,876,632 | 391,199 | 7,093,277 | 775,823 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | GVABD2 | GVAGG2 | GVAGR2 | GVAGI2 | HIBF | GEM | GIG | NVIE6 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 36,167 | 106,999 | 21,216 | 33,651 | 1,218,954 | 95,250 | 358,708 | 3,624 | |||||||||||||||||||||||
Asset charges (note 3) |
- | - | - | - | (22,078 | ) | (7,985 | ) | (11,176 | ) | - | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
36,167 | 106,999 | 21,216 | 33,651 | 1,196,876 | 87,265 | 347,532 | 3,624 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
38,312 | 218,075 | 459,935 | 216,152 | (443,818 | ) | (467,161 | ) | (592,988 | ) | 1,835 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(31,601 | ) | (1,024,820 | ) | (1,621,539 | ) | (321,435 | ) | 1,967,467 | 1,197,795 | 338,926 | (4,487 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
6,711 | (806,745 | ) | (1,161,604 | ) | (105,283 | ) | 1,523,649 | 730,634 | (254,062 | ) | (2,652 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
4,994 | 683,147 | 1,979,469 | 400,303 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 47,872 | (16,599 | ) | 839,081 | 328,671 | 2,720,525 | 817,899 | 93,470 | 972 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | NVNMO1 | NVNSR1 | NVCRA1 | NVCRB1 | NVCCA1 | NVCCN1 | NVCMD1 | NVCMA1 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 119,416 | 1,983 | 84,761 | 4,800,739 | 165,626 | 100,230 | 189,159 | 180,521 | |||||||||||||||||||||||
Asset charges (note 3) |
- | - | (212 | ) | (165,782 | ) | (442 | ) | (747 | ) | (270 | ) | (696 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
119,416 | 1,983 | 84,549 | 4,634,957 | 165,184 | 99,483 | 188,889 | 179,825 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
205,302 | (11,232 | ) | (308,425 | ) | 269,250 | (237,194 | ) | (152,686 | ) | 70,627 | (37,099 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
871,200 | 4,646 | 211,953 | (2,720,352 | ) | 22,595 | 126,724 | (259,020 | ) | (204,134 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
1,076,502 | (6,586 | ) | (96,472 | ) | (2,451,102 | ) | (214,599 | ) | (25,962 | ) | (188,393 | ) | (241,233 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
721,745 | 25,658 | 261,329 | 8,289,013 | 433,816 | 97,910 | 459,457 | 560,402 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 1,917,663 | 21,055 | 249,406 | 10,472,868 | 384,401 | 171,431 | 459,953 | 498,994 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | NVCMC1 | NVCBD1 | NVLCP1 | TRF | GBF | GVIX2 | GVIDA | NVDBL2 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 113,286 | 49,627 | 68,874 | 1,799,714 | 1,099,448 | 56,642 | 367,817 | 29,850 | |||||||||||||||||||||||
Asset charges (note 3) |
(647 | ) | - | - | (89,911 | ) | (72,856 | ) | (249 | ) | (7,564 | ) | - | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
112,639 | 49,627 | 68,874 | 1,709,803 | 1,026,592 | 56,393 | 360,253 | 29,850 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(155,765 | ) | (1,299 | ) | 6,830 | 8,597,119 | (810,781 | ) | (276,330 | ) | 985,983 | 9,176 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
125,934 | 210 | 485 | 4,064,038 | 101,038 | 132,903 | (1,018,963 | ) | 19,056 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(29,831 | ) | (1,089 | ) | 7,315 | 12,661,157 | (709,743 | ) | (143,427 | ) | (32,980 | ) | 28,232 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
156,143 | 2,375 | 8,840 | - | - | - | 1,644,978 | 36,174 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 238,951 | 50,913 | 85,029 | 14,370,960 | 316,849 | (87,034 | ) | 1,972,251 | 94,256 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | NVDCA2 | GVIDC | GVIDM | GVDMA | GVDMC | MCIF | SAM | SAM5 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 13,427 | 272,265 | 1,173,298 | 1,473,578 | 321,946 | 1,198,384 | 2,790 | 48,407 | |||||||||||||||||||||||
Asset charges (note 3) |
- | (11,790 | ) | (21,246 | ) | (32,285 | ) | (4,913 | ) | (123,815 | ) | (635 | ) | (332,855 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
13,427 | 260,475 | 1,152,052 | 1,441,293 | 317,033 | 1,074,569 | 2,155 | (284,448 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
189 | (109,900 | ) | 3,033,546 | 1,897,818 | 460,310 | 2,317,374 | - | - | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
12,102 | 40,928 | (3,255,184 | ) | (2,774,674 | ) | (450,158 | ) | 5,032,195 | - | - | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
12,291 | (68,972 | ) | (221,638 | ) | (876,856 | ) | 10,152 | 7,349,569 | - | - | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
28,129 | 272,357 | 3,499,125 | 6,142,556 | 558,313 | 8,766,100 | 972 | 3,387 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 53,847 | 463,860 | 4,429,539 | 6,706,993 | 885,498 | 17,190,238 | 3,127 | (281,061 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | NVMIG1 | GVDIVI | NVMLG1 | NVMLV1 | NVMMG1 | NVMMV1 | NVMMV2 | SCGF | ||||||||||||||||||||||||
Reinvested dividends |
$ | 212,888 | 138,539 | 102,090 | 311,005 | - | 19,364 | 183,824 | - | |||||||||||||||||||||||
Asset charges (note 3) |
- | - | (2,342 | ) | (11,828 | ) | (13,482 | ) | (1,869 | ) | - | (10,098 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
212,888 | 138,539 | 99,748 | 299,177 | (13,482 | ) | 17,495 | 183,824 | (10,098 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(249,443 | ) | (107,896 | ) | 424,480 | 263,430 | 1,320,467 | (32,489 | ) | 254,168 | 437,525 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(591,956 | ) | 211,218 | (2,061,247 | ) | 195,471 | (3,540,330 | ) | 96,793 | 536,674 | (2,842,573 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(841,399 | ) | 103,322 | (1,636,767 | ) | 458,901 | (2,219,863 | ) | 64,304 | 790,842 | (2,405,048 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
321,679 | - | 1,756,323 | 1,764,870 | 4,887,392 | 113,131 | 1,148,664 | 3,762,263 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (306,832 | ) | 241,861 | 219,304 | 2,522,948 | 2,654,047 | 194,930 | 2,123,330 | 1,347,117 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | SCVF | SCF | MSBF | NVSTB1 | NVSTB2 | NVOLG1 | NVTIV3 | EIF | ||||||||||||||||||||||||
Reinvested dividends |
$ | 248,515 | 138,716 | 376,465 | 593,004 | 20,201 | 993,001 | 12,241 | 281,827 | |||||||||||||||||||||||
Asset charges (note 3) |
(18,284 | ) | (35,699 | ) | (5,107 | ) | (41,931 | ) | - | (617 | ) | - | (1,125 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
230,231 | 103,017 | 371,358 | 551,073 | 20,201 | 992,384 | 12,241 | 280,702 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
1,274,392 | 1,594,153 | 40,496 | 4,450 | (16,150 | ) | 2,449,246 | (70,093 | ) | 499,956 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,760,858 | 819,857 | 500,976 | (86,074 | ) | 32,730 | (29,125,109 | ) | 46,178 | 981,809 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
5,035,250 | 2,414,010 | 541,472 | (81,624 | ) | 16,580 | (26,675,863 | ) | (23,915 | ) | 1,481,765 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
3,885,287 | 6,395,420 | - | - | - | 30,340,812 | 8,284 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 9,150,768 | 8,912,447 | 912,830 | 469,449 | 36,781 | 4,657,333 | (3,390 | ) | 1,762,467 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | NVRE1 | NVLCAP | NVLMP | NVSIX2 | GVEX1 | AMTB | AMGP | AMCG | ||||||||||||||||||||||||
Reinvested dividends |
$ | 651,839 | 639 | 105 | 5,865 | 86,884 | 43,111 | 3,523 | - | |||||||||||||||||||||||
Asset charges (note 3) |
(16,811 | ) | - | - | - | - | - | (1,522 | ) | (5,071 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
635,028 | 639 | 105 | 5,865 | 86,884 | 43,111 | 2,001 | (5,071 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(1,328,114 | ) | (1,844 | ) | (59 | ) | (11,627 | ) | 17,570 | (40,136 | ) | (40,397 | ) | (122,129 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
265,592 | 7,398 | 540 | 37,000 | 256,385 | 45,132 | (31,607 | ) | 115,250 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(1,062,522 | ) | 5,554 | 481 | 25,373 | 273,955 | 4,996 | (72,004 | ) | (6,879 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
2,624,909 | 439 | 102 | 58,424 | 68,108 | - | 121,285 | 94,449 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 2,197,415 | 6,632 | 688 | 89,662 | 428,947 | 48,107 | 51,282 | 82,499 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | AMMCGS | AMTP | AMRI | AMSRS | NOTB3 | NOTG3 | NOTMG3 | ALVGIA | ||||||||||||||||||||||||
Reinvested dividends |
$ | - | 2,296 | 33,509 | 13,649 | 484 | 464 | 645 | 227,495 | |||||||||||||||||||||||
Asset charges (note 3) |
- | (146 | ) | (12,369 | ) | - | - | - | - | (44,355 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
- | 2,150 | 21,140 | 13,649 | 484 | 464 | 645 | 183,140 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(11,860 | ) | (13,982 | ) | 66,926 | 71,559 | (205 | ) | 13 | 30 | 806,879 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(1,046 | ) | 51,757 | 282,195 | 29,720 | 1,827 | 890 | 1,527 | 94,274 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(12,906 | ) | 37,775 | 349,121 | 101,279 | 1,622 | 903 | 1,557 | 901,153 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
51,292 | 25,172 | 380,957 | 70,083 | - | - | - | 1,358,916 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 38,386 | 65,097 | 751,218 | 185,011 | 2,106 | 1,367 | 2,202 | 2,443,209 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | ALVIVA | ALVSVA | ACVCA | ACVIG | ACVIP2 | ACVI | ACVMV1 | ACVU1 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 113,131 | 111,450 | - | 433,425 | 169,764 | 16,822 | 266,022 | 2,474 | |||||||||||||||||||||||
Asset charges (note 3) |
(14,236 | ) | (15,762 | ) | (1,352 | ) | (6,905 | ) | - | (3,651 | ) | (9,686 | ) | (1,712 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
98,895 | 95,688 | (1,352 | ) | 426,520 | 169,764 | 13,171 | 256,336 | 762 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
52,827 | (305,256 | ) | (53,917 | ) | 371,827 | (280,531 | ) | (24,989 | ) | 650,476 | (9,261 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(225,135 | ) | 3,440,962 | 20,702 | 1,164,262 | 442,667 | (41,076 | ) | 1,583,924 | 11,788 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(172,308 | ) | 3,135,706 | (33,215 | ) | 1,536,089 | 162,136 | (66,065 | ) | 2,234,400 | 2,527 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | 1,047,125 | 57,974 | 338,152 | 68,878 | - | 662,743 | 29,328 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (73,413 | ) | 4,278,519 | 23,407 | 2,300,761 | 400,778 | (52,894 | ) | 3,153,479 | 32,617 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | ACVV | DVMCS | DVSCS | DCAP | DSC | DVIV | SVSSVB | SVSLVB | ||||||||||||||||||||||||
Reinvested dividends |
$ | 415,955 | 27,182 | 810,175 | 324,197 | - | 73,438 | 449 | 731 | |||||||||||||||||||||||
Asset charges (note 3) |
(48,124 | ) | (6,111 | ) | (165,497 | ) | (8,101 | ) | - | (7,840 | ) | (393 | ) | (241 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
367,831 | 21,071 | 644,678 | 316,096 | - | 65,598 | 56 | 490 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
529,693 | (120,562 | ) | 3,267,414 | 49,053 | 49,312 | (109,793 | ) | (6,309 | ) | 6,193 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,569,445 | 270,397 | 9,684,971 | (1,823,974 | ) | 17,610 | (30,414 | ) | 14,993 | (20,336 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
4,099,138 | 149,835 | 12,952,385 | (1,774,921 | ) | 66,922 | (140,207 | ) | 8,684 | (14,143 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | 180,460 | 7,680,217 | 2,952,589 | 73,582 | - | 20,455 | 5,236 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 4,466,969 | 351,366 | 21,277,280 | 1,493,764 | 140,504 | (74,609 | ) | 29,195 | (8,417 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | FVCA2P | FQB | FCS | FNRS2 | FEIS | FF10S | FF20S | FF30S | ||||||||||||||||||||||||
Reinvested dividends |
$ | 12,092 | 888,009 | 210,228 | 34,207 | 1,253,001 | 32,534 | 473,441 | 212,553 | |||||||||||||||||||||||
Asset charges (note 3) |
- | (23,669 | ) | (70,977 | ) | - | (29,607 | ) | (584 | ) | (54,620 | ) | (18,160 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
12,092 | 864,340 | 139,251 | 34,207 | 1,223,394 | 31,950 | 418,821 | 194,393 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(7,679 | ) | (51,284 | ) | 836,270 | (160,950 | ) | 2,334,674 | 28,707 | 584,496 | 324,829 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(33,120 | ) | 96,277 | (1,478,476 | ) | 2,032,472 | 2,162,641 | (1,999 | ) | (91,861 | ) | (96,024 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(40,799 | ) | 44,993 | (642,206 | ) | 1,871,522 | 4,497,315 | 26,708 | 492,635 | 228,805 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | - | 2,642,744 | - | 3,649,305 | 48,953 | 877,797 | 495,769 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (28,707 | ) | 909,333 | 2,139,789 | 1,905,729 | 9,370,014 | 107,611 | 1,789,253 | 918,967 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | FFINS | FGOS | FGS | FHIS | FIP | FIGBS | FMCS | FMMP | ||||||||||||||||||||||||
Reinvested dividends |
$ | 13,668 | 547 | - | 685,881 | 707,652 | 4,306,919 | 162,012 | 6,541 | |||||||||||||||||||||||
Asset charges (note 3) |
(2,062 | ) | (633 | ) | (70,579 | ) | (13,420 | ) | (100,662 | ) | (302,171 | ) | (34,014 | ) | (5,121 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
11,606 | (86 | ) | (70,579 | ) | 672,461 | 606,990 | 4,004,748 | 127,998 | 1,420 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
2,529 | (10,388 | ) | 2,610,095 | (211,169 | ) | 1,887,634 | (204,023 | ) | (77,131 | ) | - | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
9,956 | 1,875 | (10,188,118 | ) | 1,266,607 | 3,029,372 | 3,497,427 | 1,999,382 | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
12,485 | (8,513 | ) | (7,578,023 | ) | 1,055,438 | 4,917,006 | 3,293,404 | 1,922,251 | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
10,223 | 5,913 | 8,191,795 | - | 50,473 | 81,868 | 2,510,379 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 34,314 | (2,686 | ) | 543,193 | 1,727,899 | 5,574,469 | 7,380,020 | 4,560,628 | 1,420 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | FOS | FVSS | FF05S | FF15S | FF25S | FF40S | GVMCE | GVCSE | ||||||||||||||||||||||||
Reinvested dividends |
$ | 215,145 | 34,168 | 4,286 | 115,916 | 251,121 | 102,446 | 321,520 | 818 | |||||||||||||||||||||||
Asset charges (note 3) |
(5,030 | ) | (58 | ) | (513 | ) | (18,664 | ) | (35,040 | ) | (17,169 | ) | (81,946 | ) | (137 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
210,115 | 34,110 | 3,773 | 97,252 | 216,081 | 85,277 | 239,574 | 681 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
201,818 | 173,115 | (2,136 | ) | (311,500 | ) | 27,906 | 26,275 | (3,665,563 | ) | (4,145 | ) | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(1,371,624 | ) | 77,116 | 7,036 | 265,254 | 324,699 | 199,275 | 7,439,462 | 11,915 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(1,169,806 | ) | 250,231 | 4,900 | (46,246 | ) | 352,605 | 225,550 | 3,773,899 | 7,770 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
27,212 | - | 1,970 | 291,446 | 408,452 | 262,373 | 12,988 | 1,951 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | (932,479 | ) | 284,341 | 10,643 | 342,452 | 977,138 | 573,200 | 4,026,461 | 10,402 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | GVGOPS | GVGMNS | SBVSG | BNCAI | OVGR | OVGS | OVIG | OVGI | ||||||||||||||||||||||||
Reinvested dividends |
$ | - | 53 | - | 28,026 | 44,774 | 720,044 | 119,232 | 340,471 | |||||||||||||||||||||||
Asset charges (note 3) |
(3,505 | ) | - | (24,218 | ) | (14,920 | ) | (25,262 | ) | (84,950 | ) | (20,815 | ) | (11,689 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
(3,505 | ) | 53 | (24,218 | ) | 13,106 | 19,512 | 635,094 | 98,417 | 328,782 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(181,531 | ) | (700 | ) | (428,485 | ) | (61,629 | ) | 264,896 | 1,947,453 | (240,036 | ) | 302,545 | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
203,432 | 1,593 | 679,565 | 20,485 | (1,786,574 | ) | (7,341,044 | ) | (208,566 | ) | (857,756 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
21,901 | 893 | 251,080 | (41,144 | ) | (1,521,678 | ) | (5,393,591 | ) | (448,602 | ) | (555,211 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
8,984 | - | 458,852 | 397,350 | 1,134,448 | 4,564,074 | 253,641 | 3,618,968 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 27,380 | 946 | 685,714 | 369,312 | (367,718 | ) | (194,423 | ) | (96,544 | ) | 3,392,539 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | OVSC | OVAG | OVSB | PMVAAA | PMVRSA | PMVFBA | PMVLGA | PMVLDA | ||||||||||||||||||||||||
Reinvested dividends |
$ | 34,134 | - | 857,814 | 563,634 | 1,665 | 18,018 | 49,496 | 652,951 | |||||||||||||||||||||||
Asset charges (note 3) |
- | (9,849 | ) | - | (41,542 | ) | - | (1,451 | ) | (5,898 | ) | (85,688 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
34,134 | (9,849 | ) | 857,814 | 522,092 | 1,665 | 16,567 | 43,598 | 567,263 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(534 | ) | 617,682 | (225,123 | ) | (1,123,681 | ) | (7,714 | ) | (55,055 | ) | 320,082 | (766,389 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
820,876 | (1,948,657 | ) | 454,100 | 3,049,279 | 27,656 | 119,503 | (187,530 | ) | 705,346 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
820,342 | (1,330,975 | ) | 228,977 | 1,925,598 | 19,942 | 64,448 | 132,552 | (61,043 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
253,053 | 1,878,904 | - | - | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 1,107,529 | 538,080 | 1,086,791 | 2,447,690 | 21,607 | 81,015 | 176,150 | 506,220 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | PMVRRA | PMVTRA | PIVEMI | PIHYB1 | PVGIB | PVGOB | PVTIGB | PVTSCB | ||||||||||||||||||||||||
Reinvested dividends |
$ | 1,475,000 | 1,808,959 | 3,414 | 211,588 | 15,566 | - | 29,513 | 10,676 | |||||||||||||||||||||||
Asset charges (note 3) |
(134,856 | ) | (157,118 | ) | (350 | ) | (8,452 | ) | - | - | - | (2,029 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
1,340,144 | 1,651,841 | 3,064 | 203,136 | 15,566 | - | 29,513 | 8,647 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(4,855,695 | ) | (1,243,164 | ) | (171,037 | ) | (149,268 | ) | 35,956 | 32 | 42,576 | (62,163 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
7,131,930 | 1,722,319 | 195,028 | 521,670 | 44,131 | 8,380 | (99,753 | ) | 200,135 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
2,276,235 | 479,155 | 23,991 | 372,402 | 80,087 | 8,412 | (57,177 | ) | 137,972 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | - | - | - | 27,489 | - | - | 91,160 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 3,616,379 | 2,130,996 | 27,055 | 575,538 | 123,142 | 8,412 | (27,664 | ) | 237,779 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | PVTVB | ACGI | ACEG | AVBVI | AVHY1 | AVIE | AVMCCI | AVSCE | ||||||||||||||||||||||||
Reinvested dividends |
$ | 14,274 | 57,632 | - | 2 | 592,826 | 646,480 | 325 | - | |||||||||||||||||||||||
Asset charges (note 3) |
- | (11,999 | ) | - | (5 | ) | (29,251 | ) | (98,510 | ) | (524 | ) | (557 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
14,274 | 45,633 | - | (3 | ) | 563,575 | 547,970 | (199 | ) | (557 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(53,253 | ) | (235,204 | ) | 83,193 | (167 | ) | (262,311 | ) | 1,612,198 | (51,522 | ) | (42,933 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
5,900 | 694,361 | (172,967 | ) | (93 | ) | 1,149,530 | (2,520,375 | ) | 60,083 | 53,568 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(47,353 | ) | 459,157 | (89,774 | ) | (260 | ) | 887,219 | (908,177 | ) | 8,561 | 10,635 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
50,757 | 476,281 | 102,736 | 174 | - | - | 27,727 | 17,325 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 17,678 | 981,071 | 12,962 | (89 | ) | 1,450,794 | (360,207 | ) | 36,089 | 27,403 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | ROCMC | RVARS | TREI2 | TRHS2 | TRLT1 | TRMCG2 | TRNAG1 | TRPSB1 | ||||||||||||||||||||||||
Reinvested dividends |
$ | 47,631 | 536 | 595,036 | - | 286,340 | - | 14,217 | 63,407 | |||||||||||||||||||||||
Asset charges (note 3) |
(13,481 | ) | - | (71,565 | ) | (28,140 | ) | (51,250 | ) | (53,393 | ) | (78,274 | ) | (8,750 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
34,150 | 536 | 523,471 | (28,140 | ) | 235,090 | (53,393 | ) | (64,057 | ) | 54,657 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
(740,554 | ) | 9,750 | 3,502,292 | 2,792,366 | (77,599 | ) | (295,514 | ) | (2,084,600 | ) | (188,191 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
1,903,622 | (12,149 | ) | (2,126,377 | ) | (6,483,689 | ) | 114,377 | 49,969 | 631,470 | 279,097 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
1,163,068 | (2,399 | ) | 1,375,915 | (3,691,323 | ) | 36,778 | (245,545 | ) | (1,453,130 | ) | 90,906 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | - | 2,612,541 | 171,039 | - | 1,493,887 | 1,734,518 | 91,725 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 1,197,218 | (1,863 | ) | 4,511,927 | (3,548,424 | ) | 271,868 | 1,194,949 | 217,331 | 237,288 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | TRBCGP | VWEM | VWHA | VVB | VVCG | VVDV | VVI | VVMCI | ||||||||||||||||||||||||
Reinvested dividends |
$ | - | 36,587 | 109,911 | 197,046 | 118,393 | 365,515 | 122,246 | 362,146 | |||||||||||||||||||||||
Asset charges (note 3) |
(82,494 | ) | (6,087 | ) | (45,117 | ) | (17,249 | ) | (21,169 | ) | (27,426 | ) | (17,250 | ) | (54,038 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
(82,494 | ) | 30,500 | 64,794 | 179,797 | 97,224 | 338,089 | 104,996 | 308,108 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
1,509,207 | (120,107 | ) | (3,880,140 | ) | 59,478 | (21,164 | ) | 379,235 | 27,395 | 812,689 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(881,856 | ) | 58,637 | 14,108,839 | 267,508 | 729,348 | 77,004 | (205,005 | ) | (261,900 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
627,351 | (61,470 | ) | 10,228,699 | 326,986 | 708,184 | 456,239 | (177,610 | ) | 550,789 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
- | 39,636 | - | 344,830 | 259,870 | 747,681 | 142,329 | 1,800,809 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 544,857 | 8,666 | 10,293,493 | 851,613 | 1,065,278 | 1,542,009 | 69,715 | 2,659,706 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Activity: | VVREI | VVSTC | VVSCG | VVHGB | WRASP | WRGP | WRHIP | WRMCG | ||||||||||||||||||||||||
Reinvested dividends |
$ | 230,448 | 101,562 | 13,691 | 488,747 | 59,793 | 4,320 | 2,764,426 | - | |||||||||||||||||||||||
Asset charges (note 3) |
(19,195 | ) | (11,651 | ) | (8,422 | ) | (47,050 | ) | (5,407 | ) | (19,326 | ) | (52,796 | ) | (10,906 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income (loss) |
211,253 | 89,911 | 5,269 | 441,697 | 54,386 | (15,006 | ) | 2,711,630 | (10,906 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Realized gain (loss) on investments |
164,883 | (7,534 | ) | (75,569 | ) | (33,629 | ) | (2,956,905 | ) | (698,650 | ) | (1,537,892 | ) | (535,333 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
(336,706 | ) | 54,939 | 290,804 | (5,787 | ) | 2,491,470 | (1,125,365 | ) | 4,306,807 | 500,716 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net gain (loss) on investments |
(171,823 | ) | 47,405 | 215,235 | (39,416 | ) | (465,435 | ) | (1,824,015 | ) | 2,768,915 | (34,617 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reinvested capital gains |
611,456 | - | 347,644 | 58,226 | - | 1,888,577 | - | 333,815 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 650,886 | 137,316 | 568,148 | 460,507 | (411,049 | ) | 49,556 | 5,480,545 | 288,292 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Investment Activity: | WRRESP | WRSTP | SVDF | SVOF | WFVSCG | CAF | ||||||||||||||||||||||||||
Reinvested dividends |
$ | 85,851 | - | - | 113,315 | - | 20,339 | |||||||||||||||||||||||||
Asset charges (note 3) |
(10,441 | ) | (18,176 | ) | (13,341 | ) | (13,277 | ) | (7,591 | ) | (768 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Net investment income (loss) |
75,410 | (18,176 | ) | (13,341 | ) | 100,038 | (7,591 | ) | 19,571 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Realized gain (loss) on investments |
(367,986 | ) | (1,162,290 | ) | (321,740 | ) | (23,564 | ) | (654,920 | ) | 3,341,232 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(227,393 | ) | 690,860 | 106,434 | (6,347 | ) | 451,060 | (4,805,528 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Net gain (loss) on investments |
(595,379 | ) | (471,430 | ) | (215,306 | ) | (29,911 | ) | (203,860 | ) | (1,464,296 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Reinvested capital gains |
725,353 | 499,483 | 994,544 | 562,582 | 523,918 | 1,404,949 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
$ | 205,384 | 9,877 | 765,897 | 632,709 | 312,467 | (39,776 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
NATIONWIDE VLI SEPARATE ACCOUNT-4
STATEMENTS OF CHANGES IN CONTRACT OWNERS EQUITY
Years Ended December 31, 2016 and 2015
Total | ALVDAA | ACVIP1 | AMVAA2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 69,374,013 | 73,565,886 | 229 | 552 | 213,076 | 123,750 | 102,057 | 72,606 | |||||||||||||||||||||||
Realized gain (loss) on investments |
46,700,180 | 157,541,808 | (1,555 | ) | 634 | (117,230 | ) | (40,592 | ) | 41,453 | 77,689 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
32,203,948 | (475,204,916 | ) | 2,087 | (3,333 | ) | (51,762 | ) | (365,402 | ) | 289,198 | (432,377 | ) | |||||||||||||||||||
Reinvested capital gains |
206,359,654 | 206,683,439 | 6 | 1,108 | 47,854 | - | 151,298 | 333,728 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
354,637,795 | (37,413,783 | ) | 767 | (1,039 | ) | 91,938 | (282,244 | ) | 584,006 | 51,646 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
214,947,701 | 230,175,856 | 9,196 | 6,669 | 420,565 | 4,587 | 355,012 | 348,568 | ||||||||||||||||||||||||
Transfers between funds |
- | - | (37,415 | ) | 20,242 | 13,205,298 | 4,969,655 | 2,221,773 | 1,798,242 | |||||||||||||||||||||||
Surrenders (note 6) |
(223,413,580 | ) | (261,930,075 | ) | (922 | ) | (710 | ) | (146,949 | ) | (15,845 | ) | (50,804 | ) | (45,336 | ) | ||||||||||||||||
Death benefits (note 4) |
(19,933,699 | ) | (21,800,687 | ) | - | - | (3,282 | ) | (5 | ) | - | (31,992 | ) | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
(4,371,264 | ) | (7,475,773 | ) | (137 | ) | (30 | ) | (44,823 | ) | (3,332 | ) | 13,412 | (27,774 | ) | |||||||||||||||||
Deductions for surrender charges (note 2d) |
(88,731 | ) | (117,645 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(109,803,006 | ) | (107,812,060 | ) | (6,764 | ) | (5,855 | ) | (106,738 | ) | (41,151 | ) | (146,069 | ) | (87,962 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(5,013,433 | ) | (5,536,627 | ) | (195 | ) | (281 | ) | (211 | ) | (98 | ) | (1,262 | ) | (1,403 | ) | ||||||||||||||||
MSP contracts |
(267,404 | ) | (294,944 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
SL contracts or LSFP contracts |
(642,587 | ) | (703,206 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
66,349 | 8,440 | (16 | ) | 5 | 9,766 | (768 | ) | 35 | (2 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(148,519,654 | ) | (175,486,721 | ) | (36,253 | ) | 20,040 | 13,333,626 | 4,913,043 | 2,392,097 | 1,952,341 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
206,118,141 | (212,900,504 | ) | (35,486 | ) | 19,001 | 13,425,564 | 4,630,799 | 2,976,103 | 2,003,987 | ||||||||||||||||||||||
Contract owners equity beginning of period |
4,526,981,672 | 4,739,882,176 | 64,806 | 45,805 | 5,480,549 | 849,750 | 5,167,132 | 3,163,145 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 4,733,099,813 | 4,526,981,672 | 29,320 | 64,806 | 18,906,113 | 5,480,549 | 8,143,235 | 5,167,132 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
249,805,767 | 251,462,059 | 5,447 | 3,808 | 592,890 | 89,451 | 354,629 | 219,500 | ||||||||||||||||||||||||
Units purchased |
38,573,195 | 46,460,532 | 794 | 2,252 | 1,524,582 | 561,286 | 176,756 | 150,977 | ||||||||||||||||||||||||
Units redeemed |
(41,718,118 | ) | (48,116,824 | ) | (3,862 | ) | (613 | ) | (160,811 | ) | (57,847 | ) | (19,629 | ) | (15,848 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
246,660,844 | 249,805,767 | 2,379 | 5,447 | 1,956,661 | 592,890 | 511,756 | 354,629 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMVBD2 | AMVGS2 | AMVGR2 | AMVI2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,149,378 | 1,133,237 | 456 | (4,302 | ) | 95,956 | 58,715 | 70,150 | 67,183 | ||||||||||||||||||||||
Realized gain (loss) on investments |
(11,246 | ) | (10,918 | ) | (95,724 | ) | 284,933 | 152,600 | 4,209,138 | (226,694 | ) | 176,738 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
617,286 | (2,381,044 | ) | (127,729 | ) | (312,589 | ) | (171,097 | ) | (6,136,457 | ) | (83,550 | ) | (773,619 | ) | |||||||||||||||||
Reinvested capital gains |
251,767 | 1,386,907 | 228,140 | 125,351 | 1,617,818 | 3,364,440 | 463,255 | 276,716 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,007,185 | 128,182 | 5,143 | 93,393 | 1,695,277 | 1,495,836 | 223,161 | (252,982 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
- | 737 | 84,939 | 143,033 | 647,989 | 636,096 | 881,456 | 858,836 | ||||||||||||||||||||||||
Transfers between funds |
(4,084 | ) | 3,577 | (312,582 | ) | (964,330 | ) | (1,613,358 | ) | (8,729,499 | ) | 152,991 | 631,694 | |||||||||||||||||||
Surrenders (note 6) |
(1,187 | ) | (41,665 | ) | (7,324 | ) | (205,389 | ) | (215,958 | ) | (441,281 | ) | (247,231 | ) | (551,918 | ) | ||||||||||||||||
Death benefits (note 4) |
- | - | (1,516 | ) | (3,934 | ) | (15,173 | ) | (62,232 | ) | (6,959 | ) | (22,950 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(419 | ) | (353 | ) | (2,480 | ) | (6,588 | ) | (26,400 | ) | (6,598 | ) | 10,415 | 585 | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(683,020 | ) | (637,156 | ) | (15,764 | ) | (23,066 | ) | (260,015 | ) | (275,499 | ) | (114,781 | ) | (98,310 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(21 | ) | (40 | ) | (12 | ) | (132 | ) | (70 | ) | (69 | ) | (346 | ) | (256 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
216 | 23 | 17 | (9 | ) | (78 | ) | (4 | ) | 54 | (23 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(688,515 | ) | (674,877 | ) | (254,722 | ) | (1,060,415 | ) | (1,483,063 | ) | (8,879,086 | ) | 675,599 | 817,658 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,318,670 | (546,695 | ) | (249,579 | ) | (967,022 | ) | 212,214 | (7,383,250 | ) | 898,760 | 564,676 | ||||||||||||||||||||
Contract owners equity beginning of period |
70,464,503 | 71,011,198 | 1,544,166 | 2,511,188 | 17,442,134 | 24,825,384 | 5,243,130 | 4,678,454 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 71,783,173 | 70,464,503 | 1,294,587 | 1,544,166 | 17,654,348 | 17,442,134 | 6,141,890 | 5,243,130 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
5,633,226 | 5,686,802 | 125,623 | 204,209 | 1,120,259 | 1,698,415 | 506,463 | 430,497 | ||||||||||||||||||||||||
Units purchased |
72 | 358 | 10,122 | 19,573 | 47,871 | 75,203 | 191,858 | 138,452 | ||||||||||||||||||||||||
Units redeemed |
(53,219 | ) | (53,934 | ) | (32,378 | ) | (98,159 | ) | (130,019 | ) | (653,359 | ) | (124,218 | ) | (62,486 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
5,580,079 | 5,633,226 | 103,367 | 125,623 | 1,038,111 | 1,120,259 | 574,103 | 506,463 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMVNW2 | BRVHYI | MLVLC2 | MLVGA2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,775 | - | 232,442 | 50,643 | 13,389 | 11,248 | 101,869 | 102,280 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(50 | ) | - | (57,340 | ) | (26,364 | ) | (87,939 | ) | 335,732 | (25,132 | ) | (62,239 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,110 | - | 351,867 | (182,132 | ) | 128,244 | (429,169 | ) | 280,171 | (657,456 | ) | |||||||||||||||||||||
Reinvested capital gains |
- | - | - | 25,185 | 121,562 | 104,072 | - | 530,085 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
4,835 | - | 526,969 | (132,668 | ) | 175,256 | 21,883 | 356,908 | (87,330 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
130 | - | 70,145 | 85 | 350,833 | 221,265 | 422,961 | 486,677 | ||||||||||||||||||||||||
Transfers between funds |
378,099 | - | 839,694 | 3,364,781 | (697,454 | ) | (913,294 | ) | (114,065 | ) | (497,833 | ) | ||||||||||||||||||||
Surrenders (note 6) |
- | - | (157,787 | ) | - | (131,862 | ) | (176,386 | ) | (735,680 | ) | (588,687 | ) | |||||||||||||||||||
Death benefits (note 4) |
- | - | - | (2 | ) | (15,605 | ) | (255 | ) | (42,694 | ) | (17,787 | ) | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | (15,523 | ) | - | 87,253 | (65,329 | ) | (46,616 | ) | (184,746 | ) | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (221 | ) | 295 | |||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(903 | ) | - | (46,995 | ) | (8,499 | ) | (32,293 | ) | (46,064 | ) | (416,298 | ) | (425,844 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | (145 | ) | - | (18 | ) | (282 | ) | (25,548 | ) | (31,541 | ) | |||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | (1,072 | ) | (996 | ) | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (4,215 | ) | (5,203 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
4 | - | (346 | ) | 1,743 | 20 | 6 | (3 | ) | (1 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
377,330 | - | 689,043 | 3,358,108 | (439,126 | ) | (980,339 | ) | (963,451 | ) | (1,265,666 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
382,165 | - | 1,216,012 | 3,225,440 | (263,870 | ) | (958,456 | ) | (606,543 | ) | (1,352,996 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
- | - | 3,724,985 | 499,545 | 1,927,425 | 2,885,881 | 9,686,094 | 11,039,090 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 382,165 | - | 4,940,997 | 3,724,985 | 1,663,555 | 1,927,425 | 9,079,551 | 9,686,094 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
- | - | 397,942 | 51,392 | 97,677 | 145,570 | 588,721 | 665,128 | ||||||||||||||||||||||||
Units purchased |
36,871 | - | 91,744 | 347,896 | 23,582 | 24,503 | 37,949 | 36,835 | ||||||||||||||||||||||||
Units redeemed |
(88 | ) | - | (21,518 | ) | (1,346 | ) | (44,714 | ) | (72,396 | ) | (95,822 | ) | (113,242 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
36,783 | - | 468,168 | 397,942 | 76,545 | 97,677 | 530,848 | 588,721 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CVSPIP | DAVVL | DWVEMS | DWVSVS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 6,967 | (980 | ) | 41,970 | 17,742 | 12,638 | 4,222 | 73,757 | 39,076 | ||||||||||||||||||||||
Realized gain (loss) on investments |
43 | (25,844 | ) | (280,753 | ) | 34,305 | (118,539 | ) | (26,217 | ) | (395,736 | ) | 3,457 | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
49,896 | 10,700 | 101,850 | (394,395 | ) | 345,215 | (221,696 | ) | 3,291,330 | (2,588,514 | ) | |||||||||||||||||||||
Reinvested capital gains |
6,423 | 9,344 | 546,456 | 394,807 | 49,432 | 26,736 | 1,340,874 | 1,626,973 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
63,329 | (6,780 | ) | 409,523 | 52,459 | 288,746 | (216,955 | ) | 4,310,225 | (919,008 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
902,869 | 31,176 | 190,399 | 160,324 | 668,318 | 526,550 | 775,129 | 1,233,125 | ||||||||||||||||||||||||
Transfers between funds |
(805,082 | ) | 94,887 | 853,256 | (506,177 | ) | 208,330 | 632,664 | 920,275 | (1,489,437 | ) | |||||||||||||||||||||
Surrenders (note 6) |
- | - | (298,484 | ) | (35,568 | ) | (68,458 | ) | (3,306 | ) | (92,578 | ) | (354,359 | ) | ||||||||||||||||||
Death benefits (note 4) |
- | - | - | (9 | ) | - | (16 | ) | (56,484 | ) | (29,778 | ) | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(122 | ) | (4,801 | ) | 11,185 | (18,440 | ) | (1,736 | ) | (745 | ) | (21,303 | ) | 61,833 | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(5,294 | ) | (12,910 | ) | (43,449 | ) | (35,584 | ) | (55,636 | ) | (37,699 | ) | (261,510 | ) | (227,033 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | (2,290 | ) | (2,316 | ) | (52 | ) | (4 | ) | (2,067 | ) | (1,328 | ) | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
11 | (11 | ) | 10 | (10 | ) | 19 | 1 | 130 | (20 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
92,382 | 108,341 | 710,627 | (437,780 | ) | 750,785 | 1,117,445 | 1,261,592 | (806,997 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
155,711 | 101,561 | 1,120,150 | (385,321 | ) | 1,039,531 | 900,490 | 5,571,817 | (1,726,005 | ) | ||||||||||||||||||||||
Contract owners equity beginning of period |
553,494 | 451,933 | 2,503,302 | 2,888,623 | 2,049,470 | 1,148,980 | 13,060,799 | 14,786,804 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 709,205 | 553,494 | 3,623,452 | 2,503,302 | 3,089,001 | 2,049,470 | 18,632,616 | 13,060,799 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
49,793 | 40,910 | 187,283 | 219,468 | 231,836 | 110,505 | 980,158 | 1,035,605 | ||||||||||||||||||||||||
Units purchased |
79,246 | 50,402 | 84,774 | 11,992 | 111,825 | 125,606 | 222,896 | 132,415 | ||||||||||||||||||||||||
Units redeemed |
(71,715 | ) | (41,519 | ) | (28,847 | ) | (44,177 | ) | (35,498 | ) | (4,275 | ) | (134,744 | ) | (187,862 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
57,324 | 49,793 | 243,210 | 187,283 | 308,163 | 231,836 | 1,068,310 | 980,158 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DFVIPS | DFVIS | DFVUTV | DSIF | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 65,133 | - | 19,265 | 20,110 | 17,386 | 24,570 | 8,442,585 | 7,194,548 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(17,693 | ) | - | (23,621 | ) | (11,293 | ) | (95,160 | ) | (16,221 | ) | 27,801,793 | 29,566,708 | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(169,715 | ) | - | 45,959 | (81,358 | ) | 449,548 | (316,451 | ) | (2,033,461 | ) | (44,641,970 | ) | |||||||||||||||||||
Reinvested capital gains |
3,543 | - | 7,368 | 33,302 | 75,515 | 142,051 | 15,562,830 | 11,749,112 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(118,732 | ) | - | 48,971 | (39,239 | ) | 447,289 | (166,051 | ) | 49,773,747 | 3,868,398 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
64 | - | 204 | (89 | ) | 561 | (323 | ) | 17,443,442 | 15,346,063 | ||||||||||||||||||||||
Transfers between funds |
5,326,807 | - | (167,478 | ) | 1,107,002 | 430,700 | 2,228,929 | 10,494,808 | 16,884,811 | |||||||||||||||||||||||
Surrenders (note 6) |
(79,000 | ) | - | (14,942 | ) | (38,599 | ) | (35,885 | ) | (78,101 | ) | (19,212,219 | ) | (19,087,452 | ) | |||||||||||||||||
Death benefits (note 4) |
- | - | (3,584 | ) | (2,581 | ) | (7,052 | ) | (5,227 | ) | (1,429,110 | ) | (1,250,584 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | - | - | - | (1,236,405 | ) | (1,532,190 | ) | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (2,760 | ) | (4,481 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(7,380 | ) | - | (7,602 | ) | (4,825 | ) | (15,252 | ) | (9,663 | ) | (10,183,708 | ) | (9,373,668 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(118 | ) | - | - | - | - | - | (403,117 | ) | (435,953 | ) | |||||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | (12,001 | ) | (12,846 | ) | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (67,657 | ) | (69,819 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
3 | - | 8 | (4 | ) | 15 | (5 | ) | 3,874 | 214 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
5,240,376 | - | (193,394 | ) | 1,060,904 | 373,087 | 2,135,610 | (4,604,853 | ) | 464,095 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
5,121,644 | - | (144,423 | ) | 1,021,665 | 820,376 | 1,969,559 | 45,168,894 | 4,332,493 | |||||||||||||||||||||||
Contract owners equity beginning of period |
- | - | 1,021,665 | - | 1,969,559 | - | 433,286,156 | 428,953,663 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 5,121,644 | - | 877,242 | 1,021,665 | 2,789,935 | 1,969,559 | 478,455,050 | 433,286,156 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
- | - | 105,953 | - | 215,294 | - | 19,872,339 | 19,703,250 | ||||||||||||||||||||||||
Units purchased |
529,203 | - | - | 110,690 | 29,942 | 225,046 | 1,824,459 | 1,801,373 | ||||||||||||||||||||||||
Units redeemed |
(8,773 | ) | - | (20,138 | ) | (4,737 | ) | (5,533 | ) | (9,752 | ) | (2,007,820 | ) | (1,632,284 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
520,430 | - | 85,815 | 105,953 | 239,703 | 215,294 | 19,688,978 | 19,872,339 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DSRG | DSGIBA | ETVFR | FTVIS2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 139,570 | 131,372 | - | - | 2,312,563 | 2,153,287 | 332,764 | 303,078 | |||||||||||||||||||||||
Realized gain (loss) on investments |
351,441 | 777,547 | 17 | - | (766,721 | ) | (253,501 | ) | (14,949 | ) | 67,282 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(480,482 | ) | (2,951,356 | ) | 250 | - | 4,475,338 | (2,614,256 | ) | 583,734 | (831,478 | ) | ||||||||||||||||||||
Reinvested capital gains |
1,067,074 | 1,668,105 | - | - | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,077,603 | (374,332 | ) | 267 | - | 6,021,180 | (714,470 | ) | 901,549 | (461,118 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
636,539 | 675,825 | 1,221 | - | 321,886 | 283,477 | 358,376 | 369,656 | ||||||||||||||||||||||||
Transfers between funds |
(60,698 | ) | (606,819 | ) | 24,921 | - | 3,397,156 | (444,493 | ) | 181,274 | 125,547 | |||||||||||||||||||||
Surrenders (note 6) |
(797,863 | ) | (709,318 | ) | (1,491 | ) | - | (537,378 | ) | (1,210,455 | ) | (851,720 | ) | (393,876 | ) | |||||||||||||||||
Death benefits (note 4) |
(78,466 | ) | (252,148 | ) | - | - | (22,036 | ) | (34,286 | ) | (47,471 | ) | (92,453 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
43,420 | 68,378 | 3 | - | (48,961 | ) | (650,427 | ) | 459,645 | 80,105 | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(18 | ) | (50 | ) | - | - | - | - | (306 | ) | (854 | ) | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(655,264 | ) | (678,052 | ) | (420 | ) | - | (846,871 | ) | (776,341 | ) | (286,935 | ) | (274,166 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(45,292 | ) | (51,543 | ) | (45 | ) | - | (612 | ) | (438 | ) | (13,997 | ) | (15,835 | ) | |||||||||||||||||
MSP contracts |
(1,295 | ) | (1,480 | ) | - | - | - | - | (1,803 | ) | (1,875 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
(1,500 | ) | (1,683 | ) | - | - | - | - | (5,832 | ) | (5,662 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
1,199 | (385 | ) | 1 | - | 482 | (496 | ) | (5 | ) | (4 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(959,238 | ) | (1,557,275 | ) | 24,190 | - | 2,263,666 | (2,833,459 | ) | (208,774 | ) | (209,417 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
118,365 | (1,931,607 | ) | 24,457 | - | 8,284,846 | (3,547,929 | ) | 692,775 | (670,535 | ) | |||||||||||||||||||||
Contract owners equity beginning of period |
11,176,410 | 13,108,017 | - | - | 63,451,455 | 66,999,384 | 6,040,094 | 6,710,629 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 11,294,775 | 11,176,410 | 24,457 | - | 71,736,301 | 63,451,455 | 6,732,869 | 6,040,094 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
503,710 | 579,590 | - | - | 5,769,523 | 6,022,601 | 377,928 | 390,265 | ||||||||||||||||||||||||
Units purchased |
32,508 | 46,157 | 2,541 | - | 419,480 | 272,465 | 58,953 | 44,283 | ||||||||||||||||||||||||
Units redeemed |
(74,542 | ) | (122,037 | ) | (191 | ) | - | (192,200 | ) | (525,543 | ) | (67,415 | ) | (56,620 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
461,676 | 503,710 | 2,350 | - | 5,996,803 | 5,769,523 | 369,466 | 377,928 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FTVRDI | FTVSVI | FTVSV2 | FTVMD2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 254,151 | 269,461 | 97,560 | 89,263 | 58,506 | 46,272 | 33,634 | 60,190 | |||||||||||||||||||||||
Realized gain (loss) on investments |
683,137 | 712,132 | 433,255 | 773,780 | (1,064,788 | ) | 431,175 | (123,269 | ) | (15,121 | ) | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(422,179 | ) | (3,179,153 | ) | 685,005 | (2,976,841 | ) | 2,218,341 | (2,843,013 | ) | 166,394 | (344,491 | ) | |||||||||||||||||||
Reinvested capital gains |
1,847,519 | 1,677,113 | 1,351,260 | 1,416,193 | 1,514,968 | 1,582,970 | 165,605 | 123,517 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,362,628 | (520,447 | ) | 2,567,080 | (697,605 | ) | 2,727,027 | (782,596 | ) | 242,364 | (175,905 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
919,776 | 1,123,180 | 359,119 | 333,206 | 522,312 | 559,224 | 9,773 | 2,599 | ||||||||||||||||||||||||
Transfers between funds |
(423,196 | ) | 279,626 | 113,757 | (589,048 | ) | 826,953 | (1,300,846 | ) | (17,667 | ) | 1,844,305 | ||||||||||||||||||||
Surrenders (note 6) |
(1,031,914 | ) | (1,583,797 | ) | (291,139 | ) | (756,064 | ) | (1,752,780 | ) | (711,121 | ) | (21,686 | ) | (11,753 | ) | ||||||||||||||||
Death benefits (note 4) |
(81,707 | ) | (47,815 | ) | (19,680 | ) | (29,984 | ) | (65,758 | ) | (116,075 | ) | (7,183 | ) | - | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(321,663 | ) | (110,064 | ) | (152,948 | ) | 48,443 | (21,112 | ) | 25,281 | (55,339 | ) | (624 | ) | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
(270 | ) | (619 | ) | (719 | ) | (839 | ) | - | - | - | - | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(489,784 | ) | (479,442 | ) | (326,604 | ) | (308,058 | ) | (117,284 | ) | (117,723 | ) | (61,805 | ) | (43,314 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(46,876 | ) | (49,952 | ) | (27,463 | ) | (30,096 | ) | (520 | ) | (1,210 | ) | (2,973 | ) | (2,156 | ) | ||||||||||||||||
MSP contracts |
(1,760 | ) | (1,849 | ) | (1,522 | ) | (1,538 | ) | - | - | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(5,838 | ) | (6,134 | ) | (3,721 | ) | (3,867 | ) | - | - | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
(3 | ) | 4 | 43 | (8 | ) | 56 | 16 | 15 | (3 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,483,235 | ) | (876,862 | ) | (350,877 | ) | (1,337,853 | ) | (608,133 | ) | (1,662,454 | ) | (156,865 | ) | 1,789,054 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
879,393 | (1,397,309 | ) | 2,216,203 | (2,035,458 | ) | 2,118,894 | (2,445,050 | ) | 85,499 | 1,613,149 | |||||||||||||||||||||
Contract owners equity beginning of period |
15,754,609 | 17,151,918 | 8,658,290 | 10,693,748 | 8,856,820 | 11,301,870 | 2,077,541 | 464,392 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 16,634,002 | 15,754,609 | 10,874,493 | 8,658,290 | 10,975,714 | 8,856,820 | 2,163,040 | 2,077,541 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
570,589 | 599,977 | 255,164 | 292,511 | 436,021 | 512,783 | 147,343 | 32,122 | ||||||||||||||||||||||||
Units purchased |
25,800 | 43,397 | 13,034 | 11,709 | 71,307 | 48,883 | 7,568 | 124,909 | ||||||||||||||||||||||||
Units redeemed |
(78,509 | ) | (72,785 | ) | (22,689 | ) | (49,056 | ) | (91,325 | ) | (125,645 | ) | (18,059 | ) | (9,688 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
517,880 | 570,589 | 245,509 | 255,164 | 416,003 | 436,021 | 136,852 | 147,343 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FTVDM2 | TIF | TIF2 | FTVGI2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 18,557 | 60,438 | 20,892 | 42,124 | 428,868 | 773,732 | (2,444 | ) | 906,016 | ||||||||||||||||||||||
Realized gain (loss) on investments |
(200,815 | ) | (251,045 | ) | (8,906 | ) | 4,703 | (404,491 | ) | 371,073 | (885,426 | ) | (173,148 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
534,408 | (778,823 | ) | 38,695 | (152,028 | ) | 1,173,881 | (3,642,164 | ) | 1,061,378 | (1,295,522 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | 384,881 | 16,379 | 39,502 | 420,475 | 835,214 | 8,984 | 59,042 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
352,150 | (584,549 | ) | 67,060 | (65,699 | ) | 1,618,733 | (1,662,145 | ) | 182,492 | (503,612 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
238,922 | 220,824 | - | - | 460,610 | 385,096 | 258,533 | 268,974 | ||||||||||||||||||||||||
Transfers between funds |
(16,791 | ) | (377,918 | ) | (11,614 | ) | (17,299 | ) | (1,220,733 | ) | 2,068,601 | (145,882 | ) | (1,130,563 | ) | |||||||||||||||||
Surrenders (note 6) |
(237,017 | ) | (154,489 | ) | (21,485 | ) | (84,583 | ) | (388,491 | ) | (459,477 | ) | (3,023,335 | ) | (528,057 | ) | ||||||||||||||||
Death benefits (note 4) |
(2,773 | ) | (6,752 | ) | - | - | (49,836 | ) | (314,545 | ) | (174 | ) | (112,780 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
22,209 | (6,995 | ) | (31,886 | ) | (13,453 | ) | (207,587 | ) | 23,513 | (11,428 | ) | (33,945 | ) | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
(406 | ) | (487 | ) | (1 | ) | - | (200 | ) | (1,725 | ) | (160 | ) | (148 | ) | |||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(95,562 | ) | (107,323 | ) | (23,596 | ) | (27,274 | ) | (389,648 | ) | (406,838 | ) | (420,037 | ) | (347,783 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(8,018 | ) | (9,377 | ) | (2,551 | ) | (3,306 | ) | (13,903 | ) | (17,288 | ) | (22,945 | ) | (26,008 | ) | ||||||||||||||||
MSP contracts |
(627 | ) | (716 | ) | (483 | ) | (532 | ) | (231 | ) | (257 | ) | (696 | ) | (863 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(886 | ) | (1,199 | ) | (534 | ) | (631 | ) | (2,696 | ) | (3,089 | ) | (3,560 | ) | (3,762 | ) | ||||||||||||||||
Adjustments to maintain reserves |
6 | (3 | ) | (14 | ) | 13 | 125 | (33 | ) | (1 | ) | (10 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(100,943 | ) | (444,435 | ) | (92,164 | ) | (147,065 | ) | (1,812,590 | ) | 1,273,958 | (3,369,685 | ) | (1,914,945 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
251,207 | (1,028,984 | ) | (25,104 | ) | (212,764 | ) | (193,857 | ) | (388,187 | ) | (3,187,193 | ) | (2,418,557 | ) | |||||||||||||||||
Contract owners equity beginning of period |
2,161,899 | 3,190,883 | 1,016,000 | 1,228,764 | 24,618,620 | 25,006,807 | 10,987,604 | 13,406,161 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 2,413,106 | 2,161,899 | 990,896 | 1,016,000 | 24,424,763 | 24,618,620 | 7,800,411 | 10,987,604 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
285,175 | 338,402 | 42,432 | 48,081 | 1,146,428 | 1,087,231 | 662,999 | 774,609 | ||||||||||||||||||||||||
Units purchased |
23,196 | 25,972 | - | 1 | 54,562 | 150,863 | 22,917 | 27,295 | ||||||||||||||||||||||||
Units redeemed |
(37,330 | ) | (79,199 | ) | (3,932 | ) | (5,650 | ) | (137,557 | ) | (91,666 | ) | (228,154 | ) | (138,905 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
271,041 | 285,175 | 38,500 | 42,432 | 1,063,433 | 1,146,428 | 457,762 | 662,999 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FTVFA2 | FTVGB1 | IVKMG1 | IVBRA1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 24,446 | 21,227 | (26,745 | ) | 879,228 | (2,421 | ) | (3,982 | ) | 4,578 | 26,252 | ||||||||||||||||||||
Realized gain (loss) on investments |
(2,034 | ) | (20,790 | ) | (1,005,312 | ) | (289,149 | ) | 367,992 | 493,195 | (43,310 | ) | (5,320 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
34,141 | (48,744 | ) | 1,472,530 | (1,180,828 | ) | (746,090 | ) | (808,966 | ) | 110,463 | (105,893 | ) | |||||||||||||||||||
Reinvested capital gains |
20,693 | 1,161 | 11,364 | 56,886 | 349,893 | 381,271 | - | 54,647 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
77,246 | (47,146 | ) | 451,837 | (533,863 | ) | (30,626 | ) | 61,518 | 71,731 | (30,314 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
39,548 | 32,418 | 1,019,936 | 1,145,793 | 137,192 | 201,155 | 37,280 | 19,819 | ||||||||||||||||||||||||
Transfers between funds |
(15,741 | ) | 3,818 | 1,302,206 | 2,146,536 | (1,380,268 | ) | 496,502 | 858,258 | 271,965 | ||||||||||||||||||||||
Surrenders (note 6) |
(72,468 | ) | (14,371 | ) | (1,283,311 | ) | (1,109,483 | ) | (232,058 | ) | (499,996 | ) | (59,132 | ) | (9,718 | ) | ||||||||||||||||
Death benefits (note 4) |
- | - | (43,580 | ) | (2,105 | ) | (28,388 | ) | (3,491 | ) | - | - | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(15,363 | ) | (20,211 | ) | (43,694 | ) | (46,496 | ) | (29,508 | ) | (4,917 | ) | (2,470 | ) | (12,832 | ) | ||||||||||||||||
Deductions for surrender charges (note 2d) |
(180 | ) | (52 | ) | - | - | (232 | ) | (80 | ) | - | - | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(26,296 | ) | (27,845 | ) | (202,394 | ) | (184,568 | ) | (110,740 | ) | (123,824 | ) | (36,160 | ) | (13,297 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(2,422 | ) | (2,906 | ) | (2,655 | ) | (2,186 | ) | (8,280 | ) | (9,811 | ) | (3,538 | ) | (1,956 | ) | ||||||||||||||||
MSP contracts |
(26 | ) | (53 | ) | - | - | (314 | ) | (368 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(5 | ) | (6 | ) | - | - | (1,612 | ) | (1,944 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
5 | (9 | ) | 90 | (7 | ) | (7 | ) | (1 | ) | (3 | ) | 2 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(92,948 | ) | (29,217 | ) | 746,598 | 1,947,484 | (1,654,215 | ) | 53,225 | 794,235 | 253,983 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(15,702 | ) | (76,363 | ) | 1,198,435 | 1,413,621 | (1,684,841 | ) | 114,743 | 865,966 | 223,669 | |||||||||||||||||||||
Contract owners equity beginning of period |
664,708 | 741,071 | 13,399,403 | 11,985,782 | 5,068,137 | 4,953,394 | 620,517 | 396,848 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 649,006 | 664,708 | 14,597,838 | 13,399,403 | 3,383,296 | 5,068,137 | 1,486,483 | 620,517 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
51,295 | 53,635 | 1,372,392 | 1,178,165 | 345,418 | 341,263 | 62,732 | 38,475 | ||||||||||||||||||||||||
Units purchased |
3,434 | 2,849 | 450,652 | 388,625 | 10,799 | 64,472 | 82,585 | 28,487 | ||||||||||||||||||||||||
Units redeemed |
(10,478 | ) | (5,189 | ) | (371,614 | ) | (194,398 | ) | (127,620 | ) | (60,317 | ) | (10,707 | ) | (4,230 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
44,251 | 51,295 | 1,451,430 | 1,372,392 | 228,597 | 345,418 | 134,610 | 62,732 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JPMMV1 | JPSCE1 | JABS | JAMGS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 103,235 | 91,758 | 150 | (27 | ) | 487,422 | 392,997 | 9,192 | - | ||||||||||||||||||||||
Realized gain (loss) on investments |
84,083 | 444,429 | 53 | 33 | 371,249 | 669,691 | (8,289 | ) | - | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
2,027,483 | (1,827,990 | ) | 11,963 | (109 | ) | (33,133 | ) | (1,831,608 | ) | 59,755 | - | ||||||||||||||||||||
Reinvested capital gains |
866,641 | 890,570 | 5,001 | - | 380,816 | 806,630 | 139,121 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
3,081,442 | (401,233 | ) | 17,167 | (103 | ) | 1,206,354 | 37,710 | 199,779 | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
1,015,452 | 1,201,351 | 36,574 | 6,725 | 2,377,201 | 2,110,919 | 110,425 | - | ||||||||||||||||||||||||
Transfers between funds |
14,317,494 | 5,373,498 | 10,226 | 37,330 | 1,678,822 | 551,934 | 4,664,985 | - | ||||||||||||||||||||||||
Surrenders (note 6) |
(330,481 | ) | (715,916 | ) | - | - | (2,081,787 | ) | (1,732,944 | ) | (23,331 | ) | - | |||||||||||||||||||
Death benefits (note 4) |
(53,141 | ) | (15,425 | ) | - | - | (20,585 | ) | (116,335 | ) | (3,506 | ) | - | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
(57,630 | ) | 94,161 | - | - | (28,041 | ) | 48,321 | 21 | - | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | (80 | ) | (68 | ) | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(263,554 | ) | (174,145 | ) | (2,239 | ) | (578 | ) | (556,457 | ) | (477,470 | ) | (21,484 | ) | - | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(1,608 | ) | (1,823 | ) | - | - | (11,988 | ) | (13,978 | ) | (241 | ) | - | |||||||||||||||||||
MSP contracts |
- | - | - | - | (52 | ) | (33 | ) | - | - | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | (1,809 | ) | (1,702 | ) | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
131 | (8 | ) | 8 | (1 | ) | 131 | 9 | 18 | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
14,626,663 | 5,761,693 | 44,569 | 43,476 | 1,355,355 | 368,653 | 4,726,887 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
17,708,105 | 5,360,460 | 61,736 | 43,373 | 2,561,709 | 406,363 | 4,926,666 | - | ||||||||||||||||||||||||
Contract owners equity beginning of period |
16,060,386 | 10,699,926 | 43,373 | - | 25,570,430 | 25,164,067 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 33,768,491 | 16,060,386 | 105,109 | 43,373 | 28,132,139 | 25,570,430 | 4,926,666 | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
573,578 | 372,474 | 4,684 | - | 947,970 | 933,751 | - | - | ||||||||||||||||||||||||
Units purchased |
573,330 | 235,274 | 5,021 | 4,745 | 490,409 | 182,098 | 522,307 | - | ||||||||||||||||||||||||
Units redeemed |
(89,955 | ) | (34,170 | ) | (239 | ) | (61 | ) | (438,127 | ) | (167,879 | ) | (65,095 | ) | - | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,056,953 | 573,578 | 9,466 | 4,684 | 1,000,252 | 947,970 | 457,212 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JAFBS | JACAS | JAGTS | JAIGS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 281,722 | 183,288 | 345,523 | 544,780 | 8,492 | 119,287 | 1,014,708 | 115,319 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(87,233 | ) | 2,566 | (897,545 | ) | 587,908 | 604,628 | 1,721,783 | (2,062,735 | ) | (2,781,891 | ) | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
19,203 | (311,186 | ) | (4,252,129 | ) | (5,087,638 | ) | 679,227 | (3,154,269 | ) | (967,714 | ) | (240,479 | ) | ||||||||||||||||||
Reinvested capital gains |
- | 38,354 | 5,577,646 | 9,050,213 | 511,313 | 2,055,008 | 580,615 | 798,169 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
213,692 | (86,978 | ) | 773,495 | 5,095,263 | 1,803,660 | 741,809 | (1,435,126 | ) | (2,108,882 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
1,118,361 | 1,087,753 | 1,944,671 | 1,895,009 | 229,576 | 525,179 | 963,073 | 991,026 | ||||||||||||||||||||||||
Transfers between funds |
739,105 | 12,868,588 | (1,618,379 | ) | (2,325,107 | ) | 235,446 | (1,127,343 | ) | (613,083 | ) | (3,561,288 | ) | |||||||||||||||||||
Surrenders (note 6) |
(447,095 | ) | (5,703,917 | ) | (3,299,119 | ) | (2,459,036 | ) | (762,592 | ) | (708,591 | ) | (1,173,845 | ) | (1,984,556 | ) | ||||||||||||||||
Death benefits (note 4) |
(4,930 | ) | (243 | ) | (224,935 | ) | (180,685 | ) | (52,235 | ) | (94,680 | ) | (74,585 | ) | (133,693 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
(22,446 | ) | (14,547 | ) | 42,217 | (2,067 | ) | 55,574 | (80,090 | ) | 1,057,320 | 70,004 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (2,945 | ) | (1,440 | ) | (723 | ) | (128 | ) | (1,839 | ) | (1,175 | ) | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(179,492 | ) | (132,029 | ) | (1,507,700 | ) | (1,470,574 | ) | (485,149 | ) | (550,541 | ) | (792,232 | ) | (889,261 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(887 | ) | (475 | ) | (95,079 | ) | (102,864 | ) | (41,223 | ) | (43,154 | ) | (52,104 | ) | (67,369 | ) | ||||||||||||||||
MSP contracts |
- | - | (2,708 | ) | (3,118 | ) | (884 | ) | (1,027 | ) | (2,139 | ) | (2,716 | ) | ||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (9,580 | ) | (9,469 | ) | 2,525 | (3,500 | ) | (5,536 | ) | (7,068 | ) | |||||||||||||||||||
Adjustments to maintain reserves |
70 | (15 | ) | 63 | 20 | 38 | 10 | 39 | 10 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
1,202,686 | 8,105,115 | (4,773,494 | ) | (4,659,331 | ) | (819,647 | ) | (2,083,865 | ) | (694,931 | ) | (5,586,086 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,416,378 | 8,018,137 | (3,999,999 | ) | 435,932 | 984,013 | (1,342,056 | ) | (2,130,057 | ) | (7,694,968 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
12,417,813 | 4,399,676 | 45,096,682 | 44,660,750 | 14,007,986 | 15,350,042 | 21,561,467 | 29,256,435 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 13,834,191 | 12,417,813 | 41,096,683 | 45,096,682 | 14,991,999 | 14,007,986 | 19,431,410 | 21,561,467 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,234,000 | 435,927 | 2,232,703 | 2,473,108 | 1,452,572 | 1,666,220 | 1,556,610 | 1,927,784 | ||||||||||||||||||||||||
Units purchased |
397,862 | 1,379,110 | 101,902 | 121,359 | 132,104 | 207,499 | 165,120 | 104,627 | ||||||||||||||||||||||||
Units redeemed |
(284,232 | ) | (581,037 | ) | (338,506 | ) | (361,764 | ) | (216,952 | ) | (421,147 | ) | (214,962 | ) | (475,801 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,347,630 | 1,234,000 | 1,996,099 | 2,232,703 | 1,367,724 | 1,452,572 | 1,506,768 | 1,556,610 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JAMVS | LZREMS | LOVBD | LOVMCV | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 11,267 | 17,362 | 252,812 | 284,940 | 105,903 | 12,564 | 311 | (580 | ) | ||||||||||||||||||||||
Realized gain (loss) on investments |
(259,699 | ) | (35,634 | ) | (1,702,967 | ) | (526,065 | ) | (2,539 | ) | 970 | (430 | ) | 264,419 | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
305,306 | (265,831 | ) | 7,204,148 | (5,757,125 | ) | 239,149 | (23,178 | ) | 10,809 | (249,505 | ) | ||||||||||||||||||||
Reinvested capital gains |
240,070 | 205,362 | - | 71,651 | - | 438 | 6,385 | 6,367 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
296,944 | (78,741 | ) | 5,753,993 | (5,926,599 | ) | 342,513 | (9,206 | ) | 17,075 | 20,701 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
21,889 | 33,750 | 1,236,136 | 1,613,604 | 18,883 | 19,442 | 102 | 98,328 | ||||||||||||||||||||||||
Transfers between funds |
(440,468 | ) | 191,094 | 182,138 | 5,306,843 | 2,068,869 | 305,417 | 11,578 | (1,087,833 | ) | ||||||||||||||||||||||
Surrenders (note 6) |
(428,848 | ) | (20,238 | ) | (1,978,714 | ) | (1,284,197 | ) | (33,895 | ) | (5,624 | ) | (1,016 | ) | (45,090 | ) | ||||||||||||||||
Death benefits (note 4) |
- | (18,598 | ) | (69,218 | ) | (90,473 | ) | (163,567 | ) | (12 | ) | (8,330 | ) | (4,829 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
26,699 | (35,753 | ) | (5,919 | ) | (8,454 | ) | (1 | ) | - | 59 | 30,754 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(32,715 | ) | (34,980 | ) | (343,952 | ) | (312,628 | ) | (20,618 | ) | (3,784 | ) | (1,366 | ) | (13,092 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(226 | ) | (183 | ) | (1,649 | ) | (1,608 | ) | - | - | (18 | ) | (20 | ) | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
109 | (44 | ) | 273 | (89 | ) | 28 | (4 | ) | (5 | ) | (6 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(853,560 | ) | 115,048 | (980,905 | ) | 5,222,998 | 1,869,699 | 315,435 | 1,004 | (1,021,788 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(556,616 | ) | 36,307 | 4,773,088 | (703,601 | ) | 2,212,212 | 306,229 | 18,079 | (1,001,087 | ) | |||||||||||||||||||||
Contract owners equity beginning of period |
1,988,712 | 1,952,405 | 26,233,081 | 26,936,682 | 306,229 | - | 100,210 | 1,101,297 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,432,096 | 1,988,712 | 31,006,169 | 26,233,081 | 2,518,441 | 306,229 | 118,289 | 100,210 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
135,681 | 128,064 | 3,088,800 | 2,531,668 | 30,871 | - | 5,441 | 57,274 | ||||||||||||||||||||||||
Units purchased |
17,164 | 15,444 | 363,097 | 726,121 | 216,642 | 31,792 | 639 | 5,140 | ||||||||||||||||||||||||
Units redeemed |
(70,478 | ) | (7,827 | ) | (423,652 | ) | (168,989 | ) | (20,522 | ) | (921 | ) | (547 | ) | (56,973 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
82,367 | 135,681 | 3,028,245 | 3,088,800 | 226,991 | 30,871 | 5,533 | 5,441 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LOVTRC | LOVSDC | MVBRES | MV2IGI | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 281,316 | 174,278 | 295,157 | - | 7,571 | 6,234 | 17,384 | 16,130 | |||||||||||||||||||||||
Realized gain (loss) on investments |
2,501 | (494 | ) | 1,360 | - | (46,203 | ) | (25,354 | ) | (45,205 | ) | (28,691 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(67,178 | ) | (216,048 | ) | (294,797 | ) | - | 18,562 | (32,654 | ) | (135,306 | ) | (223,180 | ) | ||||||||||||||||||
Reinvested capital gains |
43,581 | 648 | - | - | 78,664 | 40,193 | 335,460 | 189,434 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
260,220 | (41,616 | ) | 1,720 | - | 58,594 | (11,581 | ) | 172,333 | (46,307 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
401,935 | 39,908 | 91,828 | - | 43,134 | 1,125 | 102,921 | 92,653 | ||||||||||||||||||||||||
Transfers between funds |
4,121,728 | 6,894,209 | 11,989,304 | - | (232,876 | ) | 922,827 | 21,209 | 3,305,041 | |||||||||||||||||||||||
Surrenders (note 6) |
(14,700 | ) | - | (71,244 | ) | - | - | (82,601 | ) | (255,074 | ) | (293,265 | ) | |||||||||||||||||||
Death benefits (note 4) |
- | - | (1,219 | ) | - | - | - | (2,295 | ) | (13,332 | ) | |||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(11,228 | ) | (39,754 | ) | - | - | (2,882 | ) | (3,467 | ) | 1,781 | 3,076 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (244 | ) | (35 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(129,414 | ) | (21,669 | ) | (29,649 | ) | - | (13,110 | ) | (5,137 | ) | (126,044 | ) | (100,784 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(1,448 | ) | (135 | ) | - | - | - | (49 | ) | (12,214 | ) | (10,435 | ) | |||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | (63 | ) | (61 | ) | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (578 | ) | (438 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
10 | 12 | 33 | - | 3 | (2 | ) | 1 | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
4,366,883 | 6,872,571 | 11,979,053 | - | (205,731 | ) | 832,696 | (270,600 | ) | 2,982,420 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
4,627,103 | 6,830,955 | 11,980,773 | - | (147,137 | ) | 821,115 | (98,267 | ) | 2,936,113 | ||||||||||||||||||||||
Contract owners equity beginning of period |
6,830,955 | - | - | - | 821,115 | - | 2,936,113 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 11,458,058 | 6,830,955 | 11,980,773 | - | 673,978 | 821,115 | 2,837,846 | 2,936,113 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
696,348 | - | - | - | 74,067 | - | 297,791 | - | ||||||||||||||||||||||||
Units purchased |
445,431 | 702,580 | 1,195,736 | - | 3,656 | 82,116 | 17,534 | 329,321 | ||||||||||||||||||||||||
Units redeemed |
(19,253 | ) | (6,232 | ) | (14,317 | ) | - | (21,376 | ) | (8,049 | ) | (43,985 | ) | (31,530 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,122,526 | 696,348 | 1,181,419 | - | 56,347 | 74,067 | 271,340 | 297,791 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MV2RIS | MNDIC | MNDSC | MVFIC | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 28,917 | 49,361 | - | - | (256 | ) | (1,229 | ) | 231,520 | 227,749 | |||||||||||||||||||||
Realized gain (loss) on investments |
(38,030 | ) | (7,975 | ) | (53,719 | ) | (29,785 | ) | (49,918 | ) | (161,597 | ) | 386,332 | 600,394 | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
(24,100 | ) | (329,223 | ) | 63,817 | 13,815 | 35,371 | 152,204 | (78,359 | ) | (1,472,583 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | 25,635 | 14,797 | 13,818 | 4,306 | 17,138 | 894,276 | 571,554 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(33,213 | ) | (262,202 | ) | 24,895 | (2,152 | ) | (10,497 | ) | 6,516 | 1,433,769 | (72,886 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
18,590 | 14,415 | 15,770 | 25,564 | 15,596 | 158,203 | 378,639 | 334,527 | ||||||||||||||||||||||||
Transfers between funds |
(169,997 | ) | 3,185,834 | (44,392 | ) | (110,267 | ) | (276,357 | ) | (837,747 | ) | 1,265,114 | 827,531 | |||||||||||||||||||
Surrenders (note 6) |
(6,028 | ) | (21,313 | ) | (32,569 | ) | (23,515 | ) | - | (35,937 | ) | (459,490 | ) | (811,033 | ) | |||||||||||||||||
Death benefits (note 4) |
(19 | ) | (41,733 | ) | - | (4,269 | ) | (9,639 | ) | (8,714 | ) | (47,684 | ) | (80,274 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(3,900 | ) | (1,522 | ) | (15,500 | ) | 8,650 | 7,430 | (6,582 | ) | (62,065 | ) | 18,231 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (451 | ) | (308 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(43,291 | ) | (36,028 | ) | (15,417 | ) | (19,715 | ) | (3,730 | ) | (14,654 | ) | (372,390 | ) | (308,692 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(26 | ) | (138 | ) | (1,221 | ) | (1,721 | ) | (26 | ) | (14 | ) | (23,835 | ) | (24,111 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | - | - | (1,025 | ) | (1,102 | ) | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (9,092 | ) | (7,556 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
24 | (12 | ) | (2 | ) | (2 | ) | (13 | ) | 6 | 1 | 25 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(204,647 | ) | 3,099,503 | (93,331 | ) | (125,275 | ) | (266,739 | ) | (745,439 | ) | 667,722 | (52,762 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(237,860 | ) | 2,837,301 | (68,436 | ) | (127,427 | ) | (277,236 | ) | (738,923 | ) | 2,101,491 | (125,648 | ) | ||||||||||||||||||
Contract owners equity beginning of period |
2,837,301 | - | 406,846 | 534,273 | 356,357 | 1,095,280 | 9,890,222 | 10,015,870 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 2,599,441 | 2,837,301 | 338,410 | 406,846 | 79,121 | 356,357 | 11,991,713 | 9,890,222 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
310,021 | - | 30,567 | 39,384 | 27,229 | 81,742 | 313,122 | 314,764 | ||||||||||||||||||||||||
Units purchased |
3,115 | 320,363 | 1,295 | 3,212 | 1,137 | 12,670 | 48,654 | 37,529 | ||||||||||||||||||||||||
Units redeemed |
(25,750 | ) | (10,342 | ) | (8,547 | ) | (12,029 | ) | (22,788 | ) | (67,183 | ) | (29,005 | ) | (39,171 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
287,386 | 310,021 | 23,315 | 30,567 | 5,578 | 27,229 | 332,771 | 313,122 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MVFSC | MVIVSC | MSVFI | MSEM | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 965,504 | 553,861 | 760,414 | 1,165,332 | 39,727 | 58,377 | 1,948,214 | 1,855,470 | |||||||||||||||||||||||
Realized gain (loss) on investments |
1,359,038 | 2,356,957 | 3,141,015 | 3,129,919 | 20,892 | 24,278 | (870,142 | ) | (253,777 | ) | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
592,887 | (4,929,014 | ) | (2,785,489 | ) | (1,337,403 | ) | 40,199 | (94,256 | ) | 2,499,907 | (1,929,212 | ) | |||||||||||||||||||
Reinvested capital gains |
4,787,257 | 1,733,837 | 1,871,728 | 753,330 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
7,704,686 | (284,359 | ) | 2,987,668 | 3,711,178 | 100,818 | (11,601 | ) | 3,577,979 | (327,519 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
3,231,149 | 2,262,626 | 2,891,566 | 2,525,979 | 76,273 | 111,355 | 392,831 | 453,468 | ||||||||||||||||||||||||
Transfers between funds |
19,810,427 | 10,197,209 | 8,379,773 | 12,401,044 | 423,797 | 6,337 | (14,717,441 | ) | (4,396,260 | ) | ||||||||||||||||||||||
Surrenders (note 6) |
(1,208,825 | ) | (3,106,364 | ) | (5,600,892 | ) | (3,251,179 | ) | (70,011 | ) | (68,219 | ) | (276,075 | ) | (193,165 | ) | ||||||||||||||||
Death benefits (note 4) |
(131,428 | ) | (300,145 | ) | (218,049 | ) | (159,584 | ) | (635 | ) | (61,594 | ) | (16,124 | ) | (15,782 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
53,185 | 84,318 | (40,637 | ) | (28,603 | ) | (12,792 | ) | (219 | ) | (44,850 | ) | 14,255 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | (165 | ) | (642 | ) | (27 | ) | (23 | ) | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(726,032 | ) | (433,068 | ) | (972,870 | ) | (827,966 | ) | (113,851 | ) | (77,279 | ) | (426,544 | ) | (469,537 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(7,436 | ) | (5,268 | ) | (3,867 | ) | (3,785 | ) | (6,861 | ) | (7,267 | ) | (13,749 | ) | (14,296 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | (523 | ) | (531 | ) | (233 | ) | (249 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | (1,093 | ) | (651 | ) | (930 | ) | (986 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
324 | 6 | 543 | (27 | ) | (8 | ) | 5 | 82 | (25 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
21,021,364 | 8,699,314 | 4,435,567 | 10,655,879 | 294,131 | (98,705 | ) | (15,103,060 | ) | (4,622,600 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
28,726,050 | 8,414,955 | 7,423,235 | 14,367,057 | 394,949 | (110,306 | ) | (11,525,081 | ) | (4,950,119 | ) | |||||||||||||||||||||
Contract owners equity beginning of period |
36,194,371 | 27,779,416 | 74,992,713 | 60,625,656 | 1,607,721 | 1,718,027 | 33,218,941 | 38,169,060 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 64,920,421 | 36,194,371 | 82,415,948 | 74,992,713 | 2,002,670 | 1,607,721 | 21,693,860 | 33,218,941 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,395,774 | 1,817,807 | 3,393,304 | 2,912,540 | 101,355 | 107,604 | 826,783 | 955,142 | ||||||||||||||||||||||||
Units purchased |
1,683,336 | 840,716 | 604,787 | 630,035 | 31,361 | 9,074 | 22,258 | 20,725 | ||||||||||||||||||||||||
Units redeemed |
(292,883 | ) | (262,749 | ) | (399,725 | ) | (149,271 | ) | (13,733 | ) | (15,323 | ) | (342,008 | ) | (149,084 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
3,786,227 | 2,395,774 | 3,598,366 | 3,393,304 | 118,983 | 101,355 | 507,033 | 826,783 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VKVGR2 | MSVMG | MSVEG | MSVRE | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 62,659 | 102,500 | (15,593 | ) | (25,778 | ) | (3,172 | ) | (2,889 | ) | 223,274 | 228,173 | |||||||||||||||||||
Realized gain (loss) on investments |
178,466 | 137,343 | (1,835,295 | ) | 404,517 | 7,923 | 77,818 | 2,089,195 | 1,866,918 | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(57,078 | ) | (327,136 | ) | 825,277 | (2,908,765 | ) | (270,212 | ) | (109,131 | ) | (1,046,284 | ) | (1,665,444 | ) | |||||||||||||||||
Reinvested capital gains |
- | - | 329,968 | 1,892,001 | 251,337 | 175,597 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
184,047 | (87,293 | ) | (695,643 | ) | (638,025 | ) | (14,124 | ) | 141,395 | 1,266,185 | 429,647 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
384,977 | 593,798 | 110,401 | 124,487 | 2,621 | 17,433 | 206,868 | 295,882 | ||||||||||||||||||||||||
Transfers between funds |
(574,458 | ) | 330,956 | (2,080,063 | ) | (2,952,517 | ) | 307,430 | 47,951 | (2,294,347 | ) | 2,426,423 | ||||||||||||||||||||
Surrenders (note 6) |
(368,395 | ) | (226,675 | ) | (866,279 | ) | (353,724 | ) | (15,917 | ) | (39,662 | ) | (1,017,885 | ) | (2,961,280 | ) | ||||||||||||||||
Death benefits (note 4) |
(3,247 | ) | (8,033 | ) | (97,259 | ) | (64,622 | ) | - | (1,287 | ) | - | (166,071 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
59,364 | (47,412 | ) | 50,796 | (22,686 | ) | (8,411 | ) | (6,922 | ) | (33,589 | ) | 80,404 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(82,289 | ) | (81,105 | ) | (84,743 | ) | (139,145 | ) | (59,738 | ) | (49,153 | ) | (192,379 | ) | (200,326 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(535 | ) | (575 | ) | (521 | ) | (704 | ) | (445 | ) | (341 | ) | 42 | 1 | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
43 | (60 | ) | 9 | (59 | ) | 15 | (5 | ) | 189 | 87 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(584,540 | ) | 560,894 | (2,967,659 | ) | (3,408,970 | ) | 225,555 | (31,986 | ) | (3,331,101 | ) | (524,880 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(400,493 | ) | 473,601 | (3,663,302 | ) | (4,046,995 | ) | 211,431 | 109,409 | (2,064,916 | ) | (95,233 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
5,270,760 | 4,797,159 | 9,220,353 | 13,267,348 | 1,390,107 | 1,280,698 | 20,329,045 | 20,424,278 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 4,870,267 | 5,270,760 | 5,557,051 | 9,220,353 | 1,601,538 | 1,390,107 | 18,264,129 | 20,329,045 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
471,131 | 421,696 | 561,751 | 758,843 | 69,285 | 71,574 | 402,965 | 417,956 | ||||||||||||||||||||||||
Units purchased |
179,301 | 82,705 | 6,899 | 33,092 | 18,681 | 5,534 | 16,927 | 62,678 | ||||||||||||||||||||||||
Units redeemed |
(227,833 | ) | (33,270 | ) | (195,984 | ) | (230,184 | ) | (6,668 | ) | (7,823 | ) | (81,398 | ) | (77,669 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
422,599 | 471,131 | 372,666 | 561,751 | 81,298 | 69,285 | 338,494 | 402,965 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IDPGI | IDPG | NCPGI | NCPG | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 15 | - | 56 | 821 | 14 | - | 1,603 | 580 | |||||||||||||||||||||||
Realized gain (loss) on investments |
- | - | (1,347 | ) | (41 | ) | 70 | - | (1,431 | ) | (141 | ) | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(21 | ) | - | 3,568 | (3,568 | ) | (21 | ) | - | 3,247 | (2,468 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(6 | ) | - | 2,277 | (2,788 | ) | 63 | - | 3,419 | (2,029 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
2 | 23 | - | - | 230 | - | 1,927 | 1,768 | ||||||||||||||||||||||||
Transfers between funds |
812 | - | (43,826 | ) | 46,968 | 678 | - | 2,235 | 3,972 | |||||||||||||||||||||||
Surrenders (note 6) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Death benefits (note 4) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | - | - | - | (1 | ) | - | |||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(7 | ) | (24 | ) | (1,321 | ) | (1,120 | ) | (162 | ) | - | (3,369 | ) | (2,442 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | (79 | ) | (110 | ) | (6 | ) | - | (296 | ) | (246 | ) | |||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
5 | (9 | ) | (3 | ) | 2 | 1 | - | (3 | ) | (3 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
812 | (10 | ) | (45,229 | ) | 45,740 | 741 | - | 493 | 3,049 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
806 | (10 | ) | (42,952 | ) | 42,952 | 804 | - | 3,912 | 1,020 | ||||||||||||||||||||||
Contract owners equity beginning of period |
- | 10 | 42,952 | - | - | - | 44,339 | 43,319 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 806 | - | - | 42,952 | 804 | - | 48,251 | 44,339 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
- | 1 | 4,397 | - | - | - | 4,610 | 4,296 | ||||||||||||||||||||||||
Units purchased |
78 | 2 | - | 4,519 | 102 | - | 484 | 581 | ||||||||||||||||||||||||
Units redeemed |
(1 | ) | (3 | ) | (4,397 | ) | (122 | ) | (24 | ) | - | (379 | ) | (267 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
77 | - | - | 4,397 | 78 | - | 4,715 | 4,610 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVBX | NVIX | NVAMV1 | GVAAA2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 2,095,416 | 1,636,597 | 663,001 | 481,793 | 899,308 | 920,371 | 172,460 | 117,552 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(114,780 | ) | (23,044 | ) | (1,009,193 | ) | (326,095 | ) | 348,874 | 797,905 | 549,210 | 359,686 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(311,640 | ) | (3,064,290 | ) | 737,391 | (335,354 | ) | 2,121,293 | (8,168,940 | ) | (492,088 | ) | (736,288 | ) | ||||||||||||||||||
Reinvested capital gains |
207,636 | 955,281 | - | - | 3,723,802 | 4,779,006 | 546,241 | 364,806 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,876,632 | (495,456 | ) | 391,199 | (179,656 | ) | 7,093,277 | (1,671,658 | ) | 775,823 | 105,756 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
148,823 | 1,114,871 | 806,057 | 722,863 | 1,464,014 | 1,583,758 | 360,560 | 346,026 | ||||||||||||||||||||||||
Transfers between funds |
4,245,156 | 37,797,410 | 6,174,183 | 9,584,491 | 247,637 | (455,764 | ) | 323,836 | 1,138,220 | |||||||||||||||||||||||
Surrenders (note 6) |
(1,387,403 | ) | (16,111 | ) | (1,377,368 | ) | (450,369 | ) | (1,933,684 | ) | (2,241,776 | ) | (436,352 | ) | (586,368 | ) | ||||||||||||||||
Death benefits (note 4) |
(187,056 | ) | - | (41,354 | ) | (92,138 | ) | (149,913 | ) | (213,106 | ) | - | (80,268 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(43,938 | ) | (33 | ) | (136,400 | ) | (521,234 | ) | (202,165 | ) | 36,591 | (11,770 | ) | (18,881 | ) | |||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | (1,687 | ) | (1,335 | ) | (1,041 | ) | (163 | ) | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(1,302,722 | ) | (955,872 | ) | (358,301 | ) | (286,001 | ) | (1,522,502 | ) | (1,472,017 | ) | (340,128 | ) | (303,689 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(15,544 | ) | (6,924 | ) | (6,019 | ) | (5,828 | ) | (123,355 | ) | (132,092 | ) | (25,452 | ) | (24,378 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | (6,042 | ) | (6,096 | ) | (5,852 | ) | (5,856 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | (14,292 | ) | (14,876 | ) | (9,024 | ) | (8,178 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
457 | 19 | 138 | (6 | ) | 15 | 20 | 11 | (4 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
1,457,773 | 37,933,360 | 5,060,936 | 8,951,778 | (2,241,974 | ) | (2,916,693 | ) | (145,212 | ) | 456,461 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
3,334,405 | 37,437,904 | 5,452,135 | 8,772,122 | 4,851,303 | (4,588,351 | ) | 630,611 | 562,217 | |||||||||||||||||||||||
Contract owners equity beginning of period |
95,391,912 | 57,954,008 | 20,212,790 | 11,440,668 | 36,335,010 | 40,923,361 | 8,632,339 | 8,070,122 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 98,726,317 | 95,391,912 | 25,664,925 | 20,212,790 | 41,186,313 | 36,335,010 | 9,262,950 | 8,632,339 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
9,294,873 | 5,645,631 | 2,225,659 | 1,245,179 | 1,546,350 | 1,667,165 | 519,808 | 490,736 | ||||||||||||||||||||||||
Units purchased |
365,216 | 3,744,487 | 865,879 | 1,156,774 | 72,517 | 78,350 | 53,624 | 95,916 | ||||||||||||||||||||||||
Units redeemed |
(236,711 | ) | (95,245 | ) | (285,881 | ) | (176,294 | ) | (163,502 | ) | (199,165 | ) | (61,703 | ) | (66,844 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
9,423,378 | 9,294,873 | 2,805,657 | 2,225,659 | 1,455,365 | 1,546,350 | 511,729 | 519,808 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GVABD2 | GVAGG2 | GVAGR2 | GVAGI2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 36,167 | 20,782 | 106,999 | 50,419 | 21,216 | 68,120 | 33,651 | 26,525 | |||||||||||||||||||||||
Realized gain (loss) on investments |
38,312 | 11,121 | 218,075 | 215,150 | 459,935 | 622,304 | 216,152 | 242,222 | ||||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(31,601 | ) | (35,615 | ) | (1,024,820 | ) | (564,797 | ) | (1,621,539 | ) | (338,258 | ) | (321,435 | ) | (441,408 | ) | ||||||||||||||||
Reinvested capital gains |
4,994 | 638 | 683,147 | 699,828 | 1,979,469 | 250,621 | 400,303 | 214,130 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
47,872 | (3,074 | ) | (16,599 | ) | 400,600 | 839,081 | 602,787 | 328,671 | 41,469 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
83,662 | 96,702 | 341,622 | 452,574 | 371,254 | 396,791 | 156,561 | 109,970 | ||||||||||||||||||||||||
Transfers between funds |
27,616 | 45,031 | (89,150 | ) | 1,290,083 | (545,913 | ) | (252,626 | ) | 176,428 | (106,808 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(170,862 | ) | (74,558 | ) | (496,395 | ) | (424,295 | ) | (279,291 | ) | (506,271 | ) | (270,016 | ) | (255,965 | ) | ||||||||||||||||
Death benefits (note 4) |
(2,649 | ) | (15,049 | ) | (76,529 | ) | (62,013 | ) | (1,704 | ) | (109,468 | ) | (7,167 | ) | (10,513 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
725 | 10,283 | 6,389 | (42,336 | ) | 167,704 | 43,577 | 792 | (25,952 | ) | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(284 | ) | - | (723 | ) | (259 | ) | (737 | ) | (1,858 | ) | (527 | ) | (1,154 | ) | |||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(105,553 | ) | (97,339 | ) | (238,363 | ) | (224,435 | ) | (291,667 | ) | (290,375 | ) | (87,098 | ) | (85,008 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(4,727 | ) | (5,061 | ) | (19,868 | ) | (21,384 | ) | (25,391 | ) | (27,597 | ) | (7,101 | ) | (7,830 | ) | ||||||||||||||||
MSP contracts |
(650 | ) | (710 | ) | (1,129 | ) | (1,386 | ) | (1,959 | ) | (1,999 | ) | (1,449 | ) | (1,385 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(1,773 | ) | (1,651 | ) | (3,394 | ) | (3,227 | ) | (5,334 | ) | (5,220 | ) | (1,598 | ) | (1,640 | ) | ||||||||||||||||
Adjustments to maintain reserves |
(1 | ) | 2 | (2 | ) | 3 | (17 | ) | (12 | ) | (10 | ) | 7 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(174,496 | ) | (42,350 | ) | (577,542 | ) | 963,325 | (613,055 | ) | (755,058 | ) | (41,185 | ) | (386,278 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(126,624 | ) | (45,424 | ) | (594,141 | ) | 1,363,925 | 226,026 | (152,271 | ) | 287,486 | (344,809 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
1,499,841 | 1,545,265 | 7,898,072 | 6,534,147 | 9,541,628 | 9,693,899 | 2,990,282 | 3,335,091 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,373,217 | 1,499,841 | 7,303,931 | 7,898,072 | 9,767,654 | 9,541,628 | 3,277,768 | 2,990,282 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
113,914 | 117,093 | 426,191 | 375,662 | 539,000 | 582,797 | 198,459 | 223,749 | ||||||||||||||||||||||||
Units purchased |
10,133 | 9,353 | 25,660 | 87,990 | 35,097 | 30,465 | 12,369 | 9,549 | ||||||||||||||||||||||||
Units redeemed |
(22,443 | ) | (12,532 | ) | (58,456 | ) | (37,461 | ) | (68,181 | ) | (74,262 | ) | (15,000 | ) | (34,839 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
101,604 | 113,914 | 393,395 | 426,191 | 505,916 | 539,000 | 195,828 | 198,459 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HIBF | GEM | GIG | NVIE6 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,196,876 | 1,110,809 | 87,265 | 101,484 | 347,532 | 85,171 | 3,624 | 575 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(443,818 | ) | (322,084 | ) | (467,161 | ) | (20,731 | ) | (592,988 | ) | 335,160 | 1,835 | 12,875 | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
1,967,467 | (1,573,157 | ) | 1,197,795 | (2,228,621 | ) | 338,926 | (1,973,168 | ) | (4,487 | ) | (27,123 | ) | |||||||||||||||||||
Reinvested capital gains |
- | 201,950 | - | - | - | 715,461 | - | 8,061 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,720,525 | (582,482 | ) | 817,899 | (2,147,868 | ) | 93,470 | (837,376 | ) | 972 | (5,612 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
444,134 | 540,486 | 487,838 | 627,076 | 625,986 | 866,134 | - | - | ||||||||||||||||||||||||
Transfers between funds |
89,265 | 334,386 | 767,447 | (413,298 | ) | (1,137,075 | ) | 4,286,531 | (2,433 | ) | (30,070 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(435,487 | ) | (533,878 | ) | (753,593 | ) | (492,012 | ) | (453,967 | ) | (1,470,726 | ) | - | (369 | ) | |||||||||||||||||
Death benefits (note 4) |
(21,830 | ) | (246,592 | ) | (35,683 | ) | (25,016 | ) | (16,130 | ) | (153,795 | ) | - | - | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(138,104 | ) | 8,701 | 28,578 | 91,545 | (99,360 | ) | 84,695 | (822 | ) | (8,875 | ) | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(688 | ) | (613 | ) | (976 | ) | (1,231 | ) | - | (1,279 | ) | - | - | |||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(601,411 | ) | (612,975 | ) | (383,311 | ) | (394,402 | ) | (419,203 | ) | (436,243 | ) | (5,013 | ) | (5,605 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(34,408 | ) | (38,021 | ) | (21,675 | ) | (25,380 | ) | (25,526 | ) | (30,393 | ) | (332 | ) | (395 | ) | ||||||||||||||||
MSP contracts |
(1,898 | ) | (2,034 | ) | (5,256 | ) | (5,878 | ) | (1,300 | ) | (1,429 | ) | - | - | ||||||||||||||||||
SL contracts or LSFP contracts |
(6,713 | ) | (7,017 | ) | (3,901 | ) | (4,045 | ) | (3,940 | ) | (3,910 | ) | (540 | ) | (747 | ) | ||||||||||||||||
Adjustments to maintain reserves |
177 | (33 | ) | 58 | (124 | ) | 27 | (40 | ) | 6 | - | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(706,963 | ) | (557,590 | ) | 79,526 | (642,765 | ) | (1,530,488 | ) | 3,139,545 | (9,134 | ) | (46,061 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
2,013,562 | (1,140,072 | ) | 897,425 | (2,790,633 | ) | (1,437,018 | ) | 2,302,169 | (8,162 | ) | (51,673 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
20,149,457 | 21,289,529 | 11,336,532 | 14,127,165 | 18,048,434 | 15,746,265 | 195,933 | 247,606 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 22,163,019 | 20,149,457 | 12,233,957 | 11,336,532 | 16,611,416 | 18,048,434 | 187,771 | 195,933 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
792,106 | 816,154 | 532,848 | 557,428 | 1,135,892 | 960,722 | 20,759 | 25,389 | ||||||||||||||||||||||||
Units purchased |
37,899 | 104,690 | 66,419 | 38,459 | 84,672 | 310,041 | 1 | - | ||||||||||||||||||||||||
Units redeemed |
(65,636 | ) | (128,738 | ) | (65,268 | ) | (63,039 | ) | (184,217 | ) | (134,871 | ) | (991 | ) | (4,630 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
764,369 | 792,106 | 533,999 | 532,848 | 1,036,347 | 1,135,892 | 19,769 | 20,759 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVNMO1 | NVNSR1 | NVCRA1 | NVCRB1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 119,416 | 121,719 | 1,983 | 2,461 | 84,549 | 94,921 | 4,634,957 | 4,578,317 | |||||||||||||||||||||||
Realized gain (loss) on investments |
205,302 | 421,357 | (11,232 | ) | 7,480 | (308,425 | ) | 262,450 | 269,250 | 460,379 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
871,200 | (2,058,459 | ) | 4,646 | (60,802 | ) | 211,953 | (659,139 | ) | (2,720,352 | ) | (13,401,114 | ) | |||||||||||||||||||
Reinvested capital gains |
721,745 | 1,364,862 | 25,658 | 51,609 | 261,329 | 265,482 | 8,289,013 | 6,327,978 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,917,663 | (150,521 | ) | 21,055 | 748 | 249,406 | (36,286 | ) | 10,472,868 | (2,034,440 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
548,695 | 573,152 | 13,015 | 14,989 | 847,975 | 899,864 | 1,304,236 | 1,083,952 | ||||||||||||||||||||||||
Transfers between funds |
(320,075 | ) | (353,784 | ) | (11,410 | ) | (38,898 | ) | (179,792 | ) | (567,694 | ) | 342,117 | 1,602,695 | ||||||||||||||||||
Surrenders (note 6) |
(659,158 | ) | (1,137,217 | ) | (31,333 | ) | (28,912 | ) | (232,884 | ) | (152,826 | ) | (117,595 | ) | (36,728 | ) | ||||||||||||||||
Death benefits (note 4) |
(86,049 | ) | (261,990 | ) | - | (305 | ) | (2,634 | ) | (10,401 | ) | (25,228 | ) | (42,177 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
130,197 | 225,402 | (263 | ) | (3,598 | ) | (182,394 | ) | (489,258 | ) | (653,670 | ) | (807,557 | ) | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
(283 | ) | (167 | ) | - | (33 | ) | (22 | ) | (61 | ) | - | (12 | ) | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(630,675 | ) | (644,929 | ) | (13,358 | ) | (14,193 | ) | (186,045 | ) | (197,084 | ) | (1,989,216 | ) | (1,846,915 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(46,516 | ) | (51,966 | ) | (719 | ) | (958 | ) | (8,822 | ) | (10,040 | ) | (19,131 | ) | (17,852 | ) | ||||||||||||||||
MSP contracts |
(1,607 | ) | (1,777 | ) | (28 | ) | (28 | ) | (236 | ) | (246 | ) | (323 | ) | (331 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(3,320 | ) | (3,717 | ) | (128 | ) | (181 | ) | (180 | ) | (89 | ) | (845 | ) | (854 | ) | ||||||||||||||||
Adjustments to maintain reserves |
(15 | ) | 3 | (5 | ) | (2 | ) | (3 | ) | 8 | 446 | (13 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,068,806 | ) | (1,656,990 | ) | (44,229 | ) | (72,119 | ) | 54,963 | (527,827 | ) | (1,159,209 | ) | (65,792 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
848,857 | (1,807,511 | ) | (23,174 | ) | (71,371 | ) | 304,369 | (564,113 | ) | 9,313,659 | (2,100,232 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
14,986,341 | 16,793,852 | 277,452 | 348,823 | 3,598,068 | 4,162,181 | 170,635,089 | 172,735,321 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 15,835,198 | 14,986,341 | 254,278 | 277,452 | 3,902,437 | 3,598,068 | 179,948,748 | 170,635,089 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,043,310 | 1,156,523 | 16,728 | 20,963 | 257,344 | 294,102 | 10,232,948 | 10,224,638 | ||||||||||||||||||||||||
Units purchased |
46,450 | 47,165 | 1,429 | 1,458 | 64,162 | 70,425 | 150,628 | 205,282 | ||||||||||||||||||||||||
Units redeemed |
(119,347 | ) | (160,378 | ) | (4,234 | ) | (5,693 | ) | (64,146 | ) | (107,183 | ) | (217,201 | ) | (196,972 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
970,413 | 1,043,310 | 13,923 | 16,728 | 257,360 | 257,344 | 10,166,375 | 10,232,948 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVCCA1 | NVCCN1 | NVCMD1 | NVCMA1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 165,184 | 176,683 | 99,483 | 88,221 | 188,889 | 212,526 | 179,825 | 227,043 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(237,194 | ) | 418,112 | (152,686 | ) | (28,414 | ) | 70,627 | 244,372 | (37,099 | ) | 157,741 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
22,595 | (994,295 | ) | 126,724 | (178,676 | ) | (259,020 | ) | (945,306 | ) | (204,134 | ) | (1,211,324 | ) | ||||||||||||||||||
Reinvested capital gains |
433,816 | 374,005 | 97,910 | 116,071 | 459,457 | 418,690 | 560,402 | 704,360 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
384,401 | (25,495 | ) | 171,431 | (2,798 | ) | 459,953 | (69,718 | ) | 498,994 | (122,180 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
961,973 | 1,135,786 | 648,919 | 824,546 | 540,910 | 526,365 | 279,590 | 411,082 | ||||||||||||||||||||||||
Transfers between funds |
361,339 | (1,082,452 | ) | (311,022 | ) | (1,131,364 | ) | (364,884 | ) | (19,785 | ) | (117,539 | ) | (3,579 | ) | |||||||||||||||||
Surrenders (note 6) |
(349,317 | ) | (155,433 | ) | (12,504 | ) | (326,280 | ) | (602,041 | ) | (444,109 | ) | (488,056 | ) | (423,643 | ) | ||||||||||||||||
Death benefits (note 4) |
(6,414 | ) | (154,515 | ) | (181,344 | ) | (32,074 | ) | 132 | (214,516 | ) | - | - | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
(589,196 | ) | (709,251 | ) | (237,839 | ) | (462,179 | ) | 258,750 | (405 | ) | 305,450 | (203,684 | ) | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
(8,921 | ) | (13 | ) | - | - | (1,220 | ) | (622 | ) | (1,380 | ) | (631 | ) | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(338,427 | ) | (282,398 | ) | (220,768 | ) | (225,824 | ) | (205,496 | ) | (317,909 | ) | (188,632 | ) | (196,076 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(16,619 | ) | (16,233 | ) | (8,764 | ) | (10,925 | ) | (15,144 | ) | (16,496 | ) | (17,980 | ) | (19,012 | ) | ||||||||||||||||
MSP contracts |
(447 | ) | (458 | ) | (325 | ) | (327 | ) | (2,454 | ) | (2,678 | ) | (3,933 | ) | (4,185 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(385 | ) | (1,112 | ) | (183 | ) | (203 | ) | (5,188 | ) | (5,569 | ) | (4,324 | ) | (5,802 | ) | ||||||||||||||||
Adjustments to maintain reserves |
(8 | ) | 15 | (6 | ) | 8 | - | (9 | ) | (9 | ) | 9 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
13,578 | (1,266,064 | ) | (323,836 | ) | (1,364,622 | ) | (396,635 | ) | (495,733 | ) | (236,813 | ) | (445,521 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
397,979 | (1,291,559 | ) | (152,405 | ) | (1,367,420 | ) | 63,318 | (565,451 | ) | 262,181 | (567,701 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
5,863,151 | 7,154,710 | 4,132,995 | 5,500,415 | 6,859,396 | 7,424,847 | 6,554,672 | 7,122,373 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 6,261,130 | 5,863,151 | 3,980,590 | 4,132,995 | 6,922,714 | 6,859,396 | 6,816,853 | 6,554,672 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
413,648 | 502,308 | 315,786 | 418,416 | 490,108 | 527,052 | 465,467 | 500,786 | ||||||||||||||||||||||||
Units purchased |
105,129 | 88,126 | 59,297 | 73,080 | 48,141 | 55,092 | 27,618 | 63,245 | ||||||||||||||||||||||||
Units redeemed |
(103,850 | ) | (176,786 | ) | (84,982 | ) | (175,710 | ) | (75,079 | ) | (92,036 | ) | (44,761 | ) | (98,564 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
414,927 | 413,648 | 290,101 | 315,786 | 463,170 | 490,108 | 448,324 | 465,467 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVCMC1 | NVCBD1 | NVLCP1 | TRF | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 112,639 | 125,903 | 49,627 | 31,119 | 68,874 | 45,283 | 1,709,803 | 1,456,800 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(155,765 | ) | 52,192 | (1,299 | ) | (20,738 | ) | 6,830 | 11,348 | 8,597,119 | 1,961,336 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
125,934 | (445,501 | ) | 210 | (34,232 | ) | 485 | (85,502 | ) | 4,064,038 | (2,665,260 | ) | ||||||||||||||||||||
Reinvested capital gains |
156,143 | 187,946 | 2,375 | 6,921 | 8,840 | 21,321 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
238,951 | (79,460 | ) | 50,913 | (16,930 | ) | 85,029 | (7,550 | ) | 14,370,960 | 752,876 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
566,087 | 452,583 | 29,696 | 16,183 | 44,815 | 93,526 | 2,193,809 | 2,543,833 | ||||||||||||||||||||||||
Transfers between funds |
(704,248 | ) | 1,413,325 | 982,633 | 135,342 | (28,979 | ) | 172,711 | (1,404,286 | ) | 11,702,763 | |||||||||||||||||||||
Surrenders (note 6) |
(97,955 | ) | (67,197 | ) | (19,807 | ) | (60,202 | ) | (100,236 | ) | (224,008 | ) | (2,441,021 | ) | (1,805,220 | ) | ||||||||||||||||
Death benefits (note 4) |
(13,368 | ) | (89,692 | ) | - | (935 | ) | - | (250 | ) | (487,634 | ) | (341,999 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(324,538 | ) | (344,348 | ) | (333,200 | ) | (55,182 | ) | (90,348 | ) | 5,816 | (312,836 | ) | (199,155 | ) | |||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (454 | ) | (2,099 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(215,749 | ) | (192,694 | ) | (33,281 | ) | (27,905 | ) | (93,228 | ) | (81,522 | ) | (2,964,696 | ) | (3,003,297 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(8,805 | ) | (8,780 | ) | (1,870 | ) | (2,127 | ) | (1,944 | ) | (2,354 | ) | (146,321 | ) | (160,819 | ) | ||||||||||||||||
MSP contracts |
(1,147 | ) | (1,668 | ) | (143 | ) | (67 | ) | (26 | ) | (26 | ) | (6,099 | ) | (9,162 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(159 | ) | (164 | ) | (1,791 | ) | (1,626 | ) | (2,916 | ) | (2,784 | ) | (6,251 | ) | (7,793 | ) | ||||||||||||||||
Adjustments to maintain reserves |
3 | (7 | ) | 5 | (1 | ) | 6 | 3 | 1,994 | 101 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(799,879 | ) | 1,161,358 | 622,242 | 3,480 | (272,856 | ) | (38,888 | ) | (5,573,795 | ) | 8,717,153 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(560,928 | ) | 1,081,898 | 673,155 | (13,450 | ) | (187,827 | ) | (46,438 | ) | 8,797,165 | 9,470,029 | ||||||||||||||||||||
Contract owners equity beginning of period |
4,919,377 | 3,837,479 | 977,281 | 990,731 | 2,410,668 | 2,457,106 | 122,867,582 | 113,397,553 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 4,358,449 | 4,919,377 | 1,650,436 | 977,281 | 2,222,841 | 2,410,668 | 131,664,747 | 122,867,582 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
356,776 | 274,907 | 71,807 | 72,271 | 163,170 | 165,785 | 6,001,037 | 5,535,091 | ||||||||||||||||||||||||
Units purchased |
72,879 | 140,086 | 70,362 | 11,010 | 5,309 | 20,514 | 116,108 | 748,764 | ||||||||||||||||||||||||
Units redeemed |
(129,480 | ) | (58,217 | ) | (27,055 | ) | (11,474 | ) | (23,389 | ) | (23,129 | ) | (315,749 | ) | (282,818 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
300,175 | 356,776 | 115,114 | 71,807 | 145,090 | 163,170 | 5,801,396 | 6,001,037 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GBF | GVIX2 | GVIDA | NVDBL2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,026,592 | 916,467 | 56,393 | 69,549 | 360,253 | 315,033 | 29,850 | 26,096 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(810,781 | ) | (1,147,822 | ) | (276,330 | ) | (14,940 | ) | 985,983 | 1,672,651 | 9,176 | 99,252 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
101,038 | 198,899 | 132,903 | (84,619 | ) | (1,018,963 | ) | (2,196,869 | ) | 19,056 | (178,091 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | - | - | 1,644,978 | - | 36,174 | 40,642 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
316,849 | (32,456 | ) | (87,034 | ) | (30,010 | ) | 1,972,251 | (209,185 | ) | 94,256 | (12,101 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
2,120,756 | 1,991,739 | 97,070 | 107,941 | 1,040,392 | 1,182,035 | 50,802 | 37,179 | ||||||||||||||||||||||||
Transfers between funds |
1,079,263 | (4,379,357 | ) | (979,881 | ) | (80,351 | ) | 414,496 | (1,448,865 | ) | 20,142 | 187,614 | ||||||||||||||||||||
Surrenders (note 6) |
(1,603,048 | ) | (3,050,632 | ) | (13,662 | ) | (59,669 | ) | (1,296,953 | ) | (1,185,905 | ) | (14,238 | ) | (618,219 | ) | ||||||||||||||||
Death benefits (note 4) |
(1,082,081 | ) | (318,555 | ) | - | (14 | ) | (69,650 | ) | (3,560 | ) | - | - | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
127,169 | 326,008 | 10,508 | 189 | 142,792 | (39,343 | ) | 194 | 20,983 | |||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(157 | ) | (2,798 | ) | (83 | ) | - | (4,182 | ) | (4,390 | ) | - | (52 | ) | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(2,851,290 | ) | (3,045,781 | ) | (33,320 | ) | (43,659 | ) | (782,452 | ) | (795,573 | ) | (70,444 | ) | (62,846 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(74,052 | ) | (76,862 | ) | (1,789 | ) | (2,455 | ) | (65,492 | ) | (70,388 | ) | (4,019 | ) | (4,584 | ) | ||||||||||||||||
MSP contracts |
(6,501 | ) | (6,866 | ) | (105 | ) | (93 | ) | (3,732 | ) | (5,063 | ) | - | - | ||||||||||||||||||
SL contracts or LSFP contracts |
(14,265 | ) | (15,067 | ) | (2,518 | ) | (2,546 | ) | (4,565 | ) | (5,661 | ) | (399 | ) | (865 | ) | ||||||||||||||||
Adjustments to maintain reserves |
207 | (71 | ) | 6 | (3 | ) | 138 | (28 | ) | (2 | ) | (2 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(2,303,999 | ) | (8,578,242 | ) | (923,774 | ) | (80,660 | ) | (629,208 | ) | (2,376,741 | ) | (17,964 | ) | (440,792 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(1,987,150 | ) | (8,610,698 | ) | (1,010,808 | ) | (110,670 | ) | 1,343,043 | (2,585,926 | ) | 76,292 | (452,893 | ) | ||||||||||||||||||
Contract owners equity beginning of period |
55,120,112 | 63,730,810 | 3,319,649 | 3,430,319 | 21,912,397 | 24,498,323 | 1,514,570 | 1,967,463 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 53,132,962 | 55,120,112 | 2,308,841 | 3,319,649 | 23,255,440 | 21,912,397 | 1,590,862 | 1,514,570 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,796,778 | 3,237,960 | 361,122 | 368,560 | 969,751 | 1,073,873 | 90,670 | 117,578 | ||||||||||||||||||||||||
Units purchased |
189,216 | 165,009 | 25,531 | 26,256 | 98,271 | 85,082 | 4,169 | 14,275 | ||||||||||||||||||||||||
Units redeemed |
(304,846 | ) | (606,191 | ) | (139,119 | ) | (33,694 | ) | (127,279 | ) | (189,204 | ) | (5,248 | ) | (41,183 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,681,148 | 2,796,778 | 247,534 | 361,122 | 940,743 | 969,751 | 89,591 | 90,670 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVDCA2 | GVIDC | GVIDM | GVDMA | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 13,427 | 11,651 | 260,475 | 172,036 | 1,152,052 | 1,053,712 | 1,441,293 | 1,233,878 | |||||||||||||||||||||||
Realized gain (loss) on investments |
189 | 14,466 | (109,900 | ) | 45,800 | 3,033,546 | 4,105,563 | 1,897,818 | 837,951 | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
12,102 | (58,470 | ) | 40,928 | (519,493 | ) | (3,255,184 | ) | (7,970,940 | ) | (2,774,674 | ) | (4,178,965 | ) | ||||||||||||||||||
Reinvested capital gains |
28,129 | 26,565 | 272,357 | 330,282 | 3,499,125 | 2,652,853 | 6,142,556 | 1,569,710 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
53,847 | (5,788 | ) | 463,860 | 28,625 | 4,429,539 | (158,812 | ) | 6,706,993 | (537,426 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
43,000 | 42,295 | 475,970 | 389,859 | 2,417,298 | 2,430,844 | 5,646,453 | 6,024,829 | ||||||||||||||||||||||||
Transfers between funds |
42,622 | 89,755 | 4,326,003 | 29,001 | 196,939 | 522,311 | (186,627 | ) | (1,692,464 | ) | ||||||||||||||||||||||
Surrenders (note 6) |
(59,160 | ) | (38,186 | ) | (1,149,619 | ) | (701,864 | ) | (4,275,009 | ) | (5,435,234 | ) | (4,363,313 | ) | (4,350,324 | ) | ||||||||||||||||
Death benefits (note 4) |
- | - | (53,597 | ) | (114,764 | ) | (656,801 | ) | (502,638 | ) | (576,517 | ) | (336,241 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(5,439 | ) | 4,194 | (63,433 | ) | 51,174 | (257,503 | ) | 135,400 | (36,894 | ) | 237,276 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (253 | ) | (5,625 | ) | (1,893 | ) | (5,828 | ) | (10,921 | ) | (12,072 | ) | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(37,514 | ) | (30,835 | ) | (424,037 | ) | (360,042 | ) | (2,683,284 | ) | (2,797,303 | ) | (2,942,367 | ) | (2,923,391 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,052 | ) | (2,987 | ) | (17,975 | ) | (19,674 | ) | (161,616 | ) | (180,153 | ) | (228,386 | ) | (245,877 | ) | ||||||||||||||||
MSP contracts |
(20 | ) | (15 | ) | (6,125 | ) | (6,622 | ) | (33,215 | ) | (35,215 | ) | (17,667 | ) | (19,501 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(22 | ) | (24 | ) | (1,681 | ) | (1,823 | ) | (25,181 | ) | (26,048 | ) | (34,285 | ) | (37,790 | ) | ||||||||||||||||
Adjustments to maintain reserves |
17 | (6 | ) | 38 | 6 | 92 | (12 | ) | 161 | (5 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(19,568 | ) | 64,191 | 3,085,291 | (740,374 | ) | (5,480,173 | ) | (5,893,876 | ) | (2,750,363 | ) | (3,355,560 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
34,279 | 58,403 | 3,549,151 | (711,749 | ) | (1,050,634 | ) | (6,052,688 | ) | 3,956,630 | (3,892,986 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
724,321 | 665,918 | 10,263,238 | 10,974,987 | 63,960,082 | 70,012,770 | 82,593,425 | 86,486,411 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 758,600 | 724,321 | 13,812,389 | 10,263,238 | 62,909,448 | 63,960,082 | 86,550,055 | 82,593,425 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
38,096 | 34,838 | 616,603 | 658,975 | 3,138,153 | 3,422,115 | 3,783,159 | 3,927,295 | ||||||||||||||||||||||||
Units purchased |
4,842 | 7,345 | 294,906 | 125,765 | 211,436 | 270,463 | 552,248 | 322,852 | ||||||||||||||||||||||||
Units redeemed |
(5,905 | ) | (4,087 | ) | (111,658 | ) | (168,137 | ) | (468,209 | ) | (554,425 | ) | (677,589 | ) | (466,988 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
37,033 | 38,096 | 799,851 | 616,603 | 2,881,380 | 3,138,153 | 3,657,818 | 3,783,159 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GVDMC | MCIF | SAM | SAM5 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 317,033 | 264,360 | 1,074,569 | 888,237 | 2,155 | (951 | ) | (284,448 | ) | (333,343 | ) | ||||||||||||||||||||
Realized gain (loss) on investments |
460,310 | 605,046 | 2,317,374 | 4,293,344 | - | - | - | - | ||||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(450,158 | ) | (1,663,219 | ) | 5,032,195 | (13,288,336 | ) | - | - | - | - | |||||||||||||||||||||
Reinvested capital gains |
558,313 | 805,499 | 8,766,100 | 5,707,304 | 972 | - | 3,387 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
885,498 | 11,686 | 17,190,238 | (2,399,451 | ) | 3,127 | (951 | ) | (281,061 | ) | (333,343 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
857,976 | 717,662 | 6,040,502 | 3,666,024 | 5,109,818 | 5,346,776 | 46,472,545 | 67,241,278 | ||||||||||||||||||||||||
Transfers between funds |
2,292,294 | (422,366 | ) | 6,022,491 | 11,500,240 | 9,784,542 | 909,202 | (41,584,537 | ) | (32,166,590 | ) | |||||||||||||||||||||
Surrenders (note 6) |
(1,749,031 | ) | (609,927 | ) | (4,944,678 | ) | (4,240,818 | ) | (12,089,270 | ) | (11,176,309 | ) | (14,424,350 | ) | (26,353,554 | ) | ||||||||||||||||
Death benefits (note 4) |
(317,931 | ) | (174,084 | ) | (206,391 | ) | (355,217 | ) | (927,476 | ) | (501,489 | ) | (282,166 | ) | (411,633 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
50,151 | (10,694 | ) | (817,116 | ) | (374,216 | ) | 948,710 | 1,334,668 | (5,460,521 | ) | (1,835,385 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
(15 | ) | (5 | ) | (3,688 | ) | (746 | ) | (3,815 | ) | (9,915 | ) | - | - | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(643,702 | ) | (599,664 | ) | (2,118,991 | ) | (1,818,123 | ) | (3,900,013 | ) | (4,462,252 | ) | (3,800,159 | ) | (3,351,867 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(34,288 | ) | (37,143 | ) | (100,214 | ) | (108,817 | ) | (195,938 | ) | (211,979 | ) | (47,667 | ) | (44,848 | ) | ||||||||||||||||
MSP contracts |
(16,886 | ) | (18,148 | ) | (1,624 | ) | (1,654 | ) | (9,547 | ) | (10,074 | ) | - | - | ||||||||||||||||||
SL contracts or LSFP contracts |
(5,723 | ) | (5,812 | ) | (9,890 | ) | (10,384 | ) | (34,059 | ) | (35,886 | ) | - | - | ||||||||||||||||||
Adjustments to maintain reserves |
24 | 12 | 475 | (7 | ) | (23 | ) | 8 | 719 | (1,103 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
432,869 | (1,160,169 | ) | 3,860,876 | 8,256,282 | (1,317,071 | ) | (8,817,250 | ) | (19,126,136 | ) | 3,076,298 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,318,367 | (1,148,483 | ) | 21,051,114 | 5,856,831 | (1,313,944 | ) | (8,818,201 | ) | (19,407,197 | ) | 2,742,955 | ||||||||||||||||||||
Contract owners equity beginning of period |
15,576,328 | 16,724,811 | 86,562,644 | 80,705,813 | 47,207,095 | 56,025,296 | 169,295,370 | 166,552,415 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 16,894,695 | 15,576,328 | 107,613,758 | 86,562,644 | 45,893,151 | 47,207,095 | 149,888,173 | 169,295,370 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
822,967 | 883,442 | 2,307,024 | 2,088,515 | 3,306,864 | 4,000,593 | 14,808,532 | 14,550,861 | ||||||||||||||||||||||||
Units purchased |
170,877 | 44,055 | 417,397 | 403,167 | 1,086,086 | 864,203 | 4,976,382 | 6,401,667 | ||||||||||||||||||||||||
Units redeemed |
(146,703 | ) | (104,530 | ) | (304,399 | ) | (184,658 | ) | (1,178,805 | ) | (1,557,932 | ) | (6,656,387 | ) | (6,143,996 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
847,141 | 822,967 | 2,420,022 | 2,307,024 | 3,214,145 | 3,306,864 | 13,128,527 | 14,808,532 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVMIG1 | GVDIVI | NVMLG1 | NVMLV1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 212,888 | 116,752 | 138,539 | 63,174 | 99,748 | 54,076 | 299,177 | 195,620 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(249,443 | ) | (112,543 | ) | (107,896 | ) | (96,999 | ) | 424,480 | 526,118 | 263,430 | 380,083 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(591,956 | ) | (1,031,137 | ) | 211,218 | (245,562 | ) | (2,061,247 | ) | (1,170,396 | ) | 195,471 | (1,926,947 | ) | ||||||||||||||||||
Reinvested capital gains |
321,679 | 962,551 | - | - | 1,756,323 | 981,251 | 1,764,870 | 766,122 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(306,832 | ) | (64,377 | ) | 241,861 | (279,387 | ) | 219,304 | 391,049 | 2,522,948 | (585,122 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
697,760 | 746,673 | 195,849 | 233,764 | 449,741 | 534,999 | 401,459 | 350,616 | ||||||||||||||||||||||||
Transfers between funds |
(362,112 | ) | 401,483 | 36,013 | (157,266 | ) | 913,772 | 234,727 | (234,361 | ) | 9,700,006 | |||||||||||||||||||||
Surrenders (note 6) |
(759,746 | ) | (896,212 | ) | (238,501 | ) | (306,186 | ) | (801,618 | ) | (748,598 | ) | (277,924 | ) | (537,531 | ) | ||||||||||||||||
Death benefits (note 4) |
(42,311 | ) | (84,422 | ) | (8,233 | ) | (22,219 | ) | (23,626 | ) | (199,197 | ) | (8,146 | ) | (18,410 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
154,447 | 91,200 | (1,684 | ) | 54,609 | (4,474 | ) | (45,548 | ) | (66,425 | ) | 3,882 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(233 | ) | (62 | ) | (219 | ) | (1,563 | ) | (978 | ) | (1,373 | ) | (345 | ) | (346 | ) | ||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(719,562 | ) | (731,684 | ) | (180,737 | ) | (188,960 | ) | (423,914 | ) | (456,637 | ) | (358,100 | ) | (276,744 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(45,353 | ) | (53,191 | ) | (14,795 | ) | (17,670 | ) | (36,228 | ) | (40,503 | ) | (21,863 | ) | (24,081 | ) | ||||||||||||||||
MSP contracts |
(2,308 | ) | (2,519 | ) | (214 | ) | (255 | ) | (1,137 | ) | (1,391 | ) | (512 | ) | (521 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(4,632 | ) | (5,183 | ) | (2,354 | ) | (2,631 | ) | (4,272 | ) | (4,787 | ) | (2,097 | ) | (2,267 | ) | ||||||||||||||||
Adjustments to maintain reserves |
6 | (6 | ) | - | 10 | 1 | - | 62 | (42 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,084,044 | ) | (533,923 | ) | (214,875 | ) | (408,367 | ) | 67,267 | (728,308 | ) | (568,252 | ) | 9,194,562 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(1,390,876 | ) | (598,300 | ) | 26,986 | (687,754 | ) | 286,571 | (337,259 | ) | 1,954,696 | 8,609,440 | ||||||||||||||||||||
Contract owners equity beginning of period |
15,478,083 | 16,076,383 | 4,657,160 | 5,344,914 | 11,590,235 | 11,927,494 | 16,442,051 | 7,832,611 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 14,087,207 | 15,478,083 | 4,684,146 | 4,657,160 | 11,876,806 | 11,590,235 | 18,396,747 | 16,442,051 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,587,910 | 1,641,194 | 258,691 | 281,697 | 699,376 | 744,288 | 1,027,161 | 509,471 | ||||||||||||||||||||||||
Units purchased |
94,011 | 132,384 | 20,880 | 18,355 | 110,054 | 52,437 | 64,577 | 618,150 | ||||||||||||||||||||||||
Units redeemed |
(205,373 | ) | (185,668 | ) | (32,302 | ) | (41,361 | ) | (107,207 | ) | (97,349 | ) | (101,236 | ) | (100,460 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,476,548 | 1,587,910 | 247,269 | 258,691 | 702,223 | 699,376 | 990,502 | 1,027,161 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVMMG1 | NVMMV1 | NVMMV2 | SCGF | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | (13,482 | ) | (2,668 | ) | 17,495 | 13,094 | 183,824 | 159,266 | (10,098 | ) | (6,404 | ) | |||||||||||||||||||
Realized gain (loss) on investments |
1,320,467 | 1,304,061 | (32,489 | ) | (67,180 | ) | 254,168 | 907,384 | 437,525 | 1,371,082 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(3,540,330 | ) | (6,571,225 | ) | 96,793 | (92,666 | ) | 536,674 | (2,935,360 | ) | (2,842,573 | ) | (3,157,385 | ) | ||||||||||||||||||
Reinvested capital gains |
4,887,392 | 5,086,876 | 113,131 | 113,872 | 1,148,664 | 1,496,109 | 3,762,263 | 1,895,359 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,654,047 | (182,956 | ) | 194,930 | (32,880 | ) | 2,123,330 | (372,601 | ) | 1,347,117 | 102,652 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
1,346,738 | 1,435,563 | 43,328 | 2,906 | 419,442 | 439,334 | 769,750 | 591,873 | ||||||||||||||||||||||||
Transfers between funds |
(828,669 | ) | 11,788,545 | 50,442 | 320,163 | 241,705 | (802,281 | ) | 222,731 | 3,323,383 | ||||||||||||||||||||||
Surrenders (note 6) |
(1,507,131 | ) | (1,867,173 | ) | (558 | ) | (83,737 | ) | (607,106 | ) | (1,116,013 | ) | (616,604 | ) | (1,133,748 | ) | ||||||||||||||||
Death benefits (note 4) |
(172,996 | ) | (235,813 | ) | - | (12,996 | ) | (54,292 | ) | (192,820 | ) | (54,749 | ) | (185,956 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
128,129 | (82,605 | ) | (14,759 | ) | (14,886 | ) | 63,662 | 24,364 | (28,799 | ) | (92,310 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
(1,622 | ) | (2,546 | ) | - | - | (133 | ) | - | (552 | ) | (1,180 | ) | |||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(1,532,250 | ) | (1,498,472 | ) | (29,120 | ) | (30,690 | ) | (497,479 | ) | (510,732 | ) | (520,785 | ) | (508,652 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(105,344 | ) | (126,042 | ) | (878 | ) | (762 | ) | (42,461 | ) | (45,864 | ) | (34,041 | ) | (40,457 | ) | ||||||||||||||||
MSP contracts |
(2,994 | ) | (3,367 | ) | - | - | (1,086 | ) | (1,473 | ) | (1,094 | ) | (1,273 | ) | ||||||||||||||||||
SL contracts or LSFP contracts |
(10,510 | ) | (10,667 | ) | - | - | (6,676 | ) | (7,586 | ) | (2,220 | ) | (2,780 | ) | ||||||||||||||||||
Adjustments to maintain reserves |
55 | (21 | ) | (32 | ) | 32 | 9 | 8 | 45 | 5 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(2,686,594 | ) | 9,397,402 | 48,423 | 180,030 | (484,415 | ) | (2,213,063 | ) | (266,318 | ) | 1,948,905 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(32,547 | ) | 9,214,446 | 243,353 | 147,150 | 1,638,915 | (2,585,664 | ) | 1,080,799 | 2,051,557 | ||||||||||||||||||||||
Contract owners equity beginning of period |
43,932,455 | 34,718,009 | 1,063,100 | 915,950 | 12,613,881 | 15,199,545 | 17,035,327 | 14,983,770 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 43,899,908 | 43,932,455 | 1,306,453 | 1,063,100 | 14,252,796 | 12,613,881 | 18,116,126 | 17,035,327 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,738,949 | 2,156,480 | 57,439 | 48,124 | 682,469 | 798,637 | 624,974 | 552,233 | ||||||||||||||||||||||||
Units purchased |
173,094 | 831,787 | 10,393 | 16,738 | 43,144 | 34,424 | 51,596 | 154,914 | ||||||||||||||||||||||||
Units redeemed |
(339,286 | ) | (249,318 | ) | (7,770 | ) | (7,423 | ) | (69,841 | ) | (150,592 | ) | (61,710 | ) | (82,173 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,572,757 | 2,738,949 | 60,062 | 57,439 | 655,772 | 682,469 | 614,860 | 624,974 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCVF | SCF | MSBF | NVSTB1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 230,231 | 269,779 | 103,017 | 127,982 | 371,358 | 234,463 | 551,073 | 253,975 | |||||||||||||||||||||||
Realized gain (loss) on investments |
1,274,392 | 1,255,158 | 1,594,153 | 3,315,212 | 40,496 | 82,367 | 4,450 | (109,093 | ) | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,760,858 | (7,772,252 | ) | 819,857 | (8,582,517 | ) | 500,976 | (656,344 | ) | (86,074 | ) | (115,239 | ) | |||||||||||||||||||
Reinvested capital gains |
3,885,287 | 3,832,274 | 6,395,420 | 4,454,708 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
9,150,768 | (2,415,041 | ) | 8,912,447 | (684,615 | ) | 912,830 | (339,514 | ) | 469,449 | 29,643 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
1,263,352 | 1,282,070 | 1,076,533 | 1,112,983 | 395,818 | 377,819 | 794,707 | 363,005 | ||||||||||||||||||||||||
Transfers between funds |
(1,770,242 | ) | 3,289,114 | (1,557,922 | ) | (1,844,806 | ) | 909,439 | 143,984 | 17,366,836 | (5,571,752 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(1,862,711 | ) | (1,515,365 | ) | (1,551,055 | ) | (1,597,252 | ) | (582,663 | ) | (393,961 | ) | (1,011,665 | ) | (4,748,995 | ) | ||||||||||||||||
Death benefits (note 4) |
(174,562 | ) | (232,030 | ) | (160,767 | ) | (329,640 | ) | (28,668 | ) | (280,450 | ) | (288 | ) | (147,154 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
34,839 | (89,130 | ) | (34,387 | ) | 84,911 | 29,718 | 93,039 | (79,355 | ) | (11,988 | ) | ||||||||||||||||||||
Deductions for surrender charges |
(749 | ) | (1,857 | ) | (459 | ) | (946 | ) | (769 | ) | (20 | ) | - | - | ||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(1,317,330 | ) | (1,277,926 | ) | (1,368,433 | ) | (1,352,568 | ) | (427,523 | ) | (389,091 | ) | (291,066 | ) | (275,410 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(93,833 | ) | (105,687 | ) | (91,082 | ) | (102,346 | ) | (24,419 | ) | (25,494 | ) | (481 | ) | (88 | ) | ||||||||||||||||
MSP contracts |
(3,160 | ) | (3,576 | ) | (3,041 | ) | (3,183 | ) | (1,433 | ) | (1,580 | ) | - | - | ||||||||||||||||||
SL contracts or LSFP contracts |
(6,292 | ) | (6,798 | ) | (9,723 | ) | (10,084 | ) | (4,186 | ) | (4,330 | ) | - | - | ||||||||||||||||||
Adjustments to maintain reserves |
37 | 52 | 485 | (73 | ) | 30 | (11 | ) | 95 | (9 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(3,930,651 | ) | 1,338,867 | (3,699,851 | ) | (4,043,004 | ) | 265,344 | (480,095 | ) | 16,778,783 | (10,392,391 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
5,220,117 | (1,076,174 | ) | 5,212,596 | (4,727,619 | ) | 1,178,174 | (819,609 | ) | 17,248,232 | (10,362,748 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
38,537,015 | 39,613,189 | 41,158,133 | 45,885,752 | 10,732,453 | 11,552,062 | 14,970,825 | 25,333,573 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 43,757,132 | 38,537,015 | 46,370,729 | 41,158,133 | 11,910,627 | 10,732,453 | 32,219,057 | 14,970,825 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
862,131 | 839,625 | 1,156,133 | 1,262,236 | 494,615 | 514,344 | 1,302,410 | 2,190,544 | ||||||||||||||||||||||||
Units purchased |
39,674 | 111,471 | 32,166 | 36,468 | 60,942 | 59,099 | 1,604,817 | 387,001 | ||||||||||||||||||||||||
Units redeemed |
(123,684 | ) | (88,965 | ) | (128,319 | ) | (142,571 | ) | (49,820 | ) | (78,828 | ) | (191,576 | ) | (1,275,135 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
778,121 | 862,131 | 1,059,980 | 1,156,133 | 505,737 | 494,615 | 2,715,651 | 1,302,410 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVSTB2 | NVOLG1 | NVTIV3 | EIF | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 20,201 | 26,477 | 992,384 | 817,039 | 12,241 | 13,507 | 280,702 | 177,517 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(16,150 | ) | (1,620 | ) | 2,449,246 | 3,923,741 | (70,093 | ) | 18,772 | 499,956 | 518,363 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
32,730 | (32,287 | ) | (29,125,109 | ) | (17,835,435 | ) | 46,178 | (100,572 | ) | 981,809 | (1,429,961 | ) | |||||||||||||||||||
Reinvested capital gains |
- | - | 30,340,812 | 19,631,603 | 8,284 | 28,883 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
36,781 | (7,430 | ) | 4,657,333 | 6,536,948 | (3,390 | ) | (39,410 | ) | 1,762,467 | (734,081 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
54,722 | 48,766 | 5,311,795 | 4,927,225 | 33,690 | 68,949 | 331,499 | 394,668 | ||||||||||||||||||||||||
Transfers between funds |
(356,658 | ) | (252,035 | ) | 12,674,922 | (2,285,047 | ) | (90,096 | ) | 262,187 | (528,506 | ) | (191,463 | ) | ||||||||||||||||||
Surrenders (note 6) |
(29,421 | ) | (29,513 | ) | (7,558,483 | ) | (7,669,159 | ) | (42,097 | ) | (13,867 | ) | (304,347 | ) | (767,302 | ) | ||||||||||||||||
Death benefits (note 4) |
(5,622 | ) | (40,756 | ) | (804,538 | ) | (1,042,310 | ) | - | - | (34,834 | ) | (37,086 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
805 | (3,331 | ) | (86,475 | ) | 120,067 | (4,836 | ) | (5,009 | ) | 11,410 | 14,165 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(15 | ) | (137 | ) | (4,050 | ) | (8,204 | ) | (206 | ) | (105 | ) | (366 | ) | (1,733 | ) | ||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b |
(43,805 | ) | (44,887 | ) | (5,841,205 | ) | (5,310,497 | ) | (24,008 | ) | (21,616 | ) | (376,235 | ) | (412,577 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,119 | ) | (3,558 | ) | (457,960 | ) | (469,624 | ) | (1,372 | ) | (1,515 | ) | (31,613 | ) | (36,164 | ) | ||||||||||||||||
MSP contracts |
(404 | ) | (414 | ) | (16,706 | ) | (17,774 | ) | - | - | (1,008 | ) | (1,088 | ) | ||||||||||||||||||
SL contracts or LSFP contracts |
(970 | ) | (1,082 | ) | (44,655 | ) | (46,723 | ) | (280 | ) | (327 | ) | (4,207 | ) | (4,485 | ) | ||||||||||||||||
Adjustments to maintain reserves |
(1 | ) | (5 | ) | 261 | (8 | ) | (13 | ) | (17 | ) | 50 | (18 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(384,488 | ) | (326,952 | ) | 3,172,906 | (11,802,054 | ) | (129,218 | ) | 288,680 | (938,157 | ) | (1,043,083 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(347,707 | ) | (334,382 | ) | 7,830,239 | (5,265,106 | ) | (132,608 | ) | 249,270 | 824,310 | (1,777,164 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
1,560,000 | 1,894,382 | 127,175,154 | 132,440,260 | 701,775 | 452,505 | 10,598,730 | 12,375,894 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,212,293 | 1,560,000 | 135,005,393 | 127,175,154 | 569,167 | 701,775 | 11,423,040 | 10,598,730 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
136,028 | 164,622 | 4,934,844 | 5,400,878 | 45,612 | 28,263 | 491,781 | 536,954 | ||||||||||||||||||||||||
Units purchased |
6,664 | 44,984 | 921,847 | 240,832 | 2,635 | 20,244 | 18,424 | 24,297 | ||||||||||||||||||||||||
Units redeemed |
(39,553 | ) | (73,578 | ) | (797,237 | ) | (706,866 | ) | (11,662 | ) | (2,895 | ) | (60,465 | ) | (69,470 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
103,139 | 136,028 | 5,059,454 | 4,934,844 | 36,585 | 45,612 | 449,740 | 491,781 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NVRE1 | NVLCAP | NVLMP | NVSIX2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 635,028 | 937,207 | 639 | 779 | 105 | 115 | 5,865 | 3,277 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(1,328,114 | ) | 60,266 | (1,844 | ) | (55 | ) | (59 | ) | (18 | ) | (11,627 | ) | (3,141 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
265,592 | (8,475,822 | ) | 7,398 | (3,018 | ) | 540 | (204 | ) | 37,000 | (33,556 | ) | ||||||||||||||||||||
Reinvested capital gains |
2,624,909 | 5,329,680 | 439 | 1,517 | 102 | 36 | 58,424 | 20,782 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,197,415 | (2,148,669 | ) | 6,632 | (777 | ) | 688 | (71 | ) | 89,662 | (12,638 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
1,283,506 | 1,524,023 | 1,591 | 1,291 | 3,010 | 1,100 | 57,834 | 21,868 | ||||||||||||||||||||||||
Transfers between funds |
(381,278 | ) | (2,224,423 | ) | 6,610 | 4,217 | - | 3,001 | 516,893 | 48,551 | ||||||||||||||||||||||
Surrenders (note 6) |
(1,844,302 | ) | (2,689,873 | ) | - | - | (11,745 | ) | - | (11,975 | ) | (492 | ) | |||||||||||||||||||
Death benefits (note 4) |
(115,383 | ) | (179,833 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(41,022 | ) | (47,705 | ) | 2 | 4 | 10,856 | - | (12,367 | ) | (1,999 | ) | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(934 | ) | (1,634 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(1,144,499 | ) | (1,204,297 | ) | (2,027 | ) | (2,132 | ) | (1,138 | ) | (221 | ) | (9,881 | ) | (7,005 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(82,604 | ) | (93,772 | ) | (141 | ) | (119 | ) | (37 | ) | (10 | ) | (1,321 | ) | (920 | ) | ||||||||||||||||
MSP contracts |
(3,263 | ) | (3,447 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
SL contracts or LSFP contracts |
(7,989 | ) | (10,493 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
36 | (8 | ) | - | (2 | ) | (2 | ) | (9 | ) | (7 | ) | 2 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(2,337,732 | ) | (4,931,462 | ) | 6,035 | 3,259 | 944 | 3,861 | 539,176 | 60,005 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(140,317 | ) | (7,080,131 | ) | 12,667 | 2,482 | 1,632 | 3,790 | 628,838 | 47,367 | ||||||||||||||||||||||
Contract owners equity beginning of period |
32,169,726 | 39,249,857 | 28,291 | 25,809 | 5,984 | 2,194 | 290,369 | 243,002 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 32,029,409 | 32,169,726 | 40,958 | 28,291 | 7,616 | 5,984 | 919,207 | 290,369 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,934,105 | 2,232,004 | 2,467 | 2,183 | 530 | 191 | 23,027 | 18,330 | ||||||||||||||||||||||||
Units purchased |
115,628 | 114,490 | 936 | 630 | 334 | 469 | 40,496 | 6,530 | ||||||||||||||||||||||||
Units redeemed |
(280,015 | ) | (412,389 | ) | (201 | ) | (346 | ) | (245 | ) | (130 | ) | (3,214 | ) | (1,833 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,769,718 | 1,934,105 | 3,202 | 2,467 | 619 | 530 | 60,309 | 23,027 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GVEX1 | AMTB | AMGP | AMCG | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 86,884 | 62,071 | 43,111 | 52,226 | 2,001 | 5,944 | (5,071 | ) | (5,894 | ) | |||||||||||||||||||||
Realized gain (loss) on investments |
17,570 | 63,366 | (40,136 | ) | (73,598 | ) | (40,397 | ) | (180,544 | ) | (122,129 | ) | (293,173 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
256,385 | (141,305 | ) | 45,132 | 26,717 | (31,607 | ) | (140,305 | ) | 115,250 | 119,501 | |||||||||||||||||||||
Reinvested capital gains |
68,108 | 39,810 | - | - | 121,285 | 269,213 | 94,449 | 223,112 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
428,947 | 23,942 | 48,107 | 5,345 | 51,282 | (45,692 | ) | 82,499 | 43,546 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
241,775 | 156,550 | 142,678 | 161,711 | 2,980 | 2,419 | 3,877 | (5,402 | ) | |||||||||||||||||||||||
Transfers between funds |
1,581,076 | 1,564,185 | 624,234 | 211,550 | 136,718 | (451,497 | ) | (324,259 | ) | (692,920 | ) | |||||||||||||||||||||
Surrenders (note 6) |
(217,603 | ) | (32,057 | ) | (234,750 | ) | (165,438 | ) | (64,250 | ) | - | - | - | |||||||||||||||||||
Death benefits (note 4) |
- | - | (102,135 | ) | (3,900 | ) | - | (9,120 | ) | (24,349 | ) | (69,023 | ) | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
(111,634 | ) | (20,501 | ) | (8,840 | ) | (45,376 | ) | - | - | - | 28,794 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (8 | ) | (153 | ) | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(109,520 | ) | (60,595 | ) | (225,147 | ) | (179,209 | ) | (9,167 | ) | (11,517 | ) | (20,784 | ) | (17,259 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(10,314 | ) | (7,789 | ) | (10,757 | ) | (11,539 | ) | - | - | - | (87 | ) | |||||||||||||||||||
MSP contracts |
- | - | (640 | ) | (570 | ) | - | - | - | - | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (2,359 | ) | (1,765 | ) | - | - | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
(5 | ) | 5 | (5 | ) | 4 | 24 | (11 | ) | 51 | 23 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
1,373,775 | 1,599,798 | 182,271 | (34,685 | ) | 66,305 | (469,726 | ) | (365,464 | ) | (755,874 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,802,722 | 1,623,740 | 230,378 | (29,340 | ) | 117,587 | (515,418 | ) | (282,965 | ) | (712,328 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
3,253,294 | 1,629,554 | 3,723,185 | 3,752,525 | 559,119 | 1,074,537 | 2,161,389 | 2,873,717 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 5,056,016 | 3,253,294 | 3,953,563 | 3,723,185 | 676,706 | 559,119 | 1,878,424 | 2,161,389 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
239,681 | 121,451 | 300,528 | 303,453 | 25,306 | 43,652 | 105,561 | 133,206 | ||||||||||||||||||||||||
Units purchased |
115,246 | 129,126 | 64,398 | 64,906 | 6,118 | 7,835 | 190 | 2,923 | ||||||||||||||||||||||||
Units redeemed |
(21,344 | ) | (10,896 | ) | (49,646 | ) | (67,831 | ) | (3,186 | ) | (26,181 | ) | (17,657 | ) | (30,568 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
333,583 | 239,681 | 315,280 | 300,528 | 28,238 | 25,306 | 88,094 | 105,561 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMMCGS | AMTP | AMRI | AMSRS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | - | (22 | ) | 2,150 | 4,844 | 21,140 | 28,295 | 13,649 | 11,634 | ||||||||||||||||||||||
Realized gain (loss) on investments |
(11,860 | ) | (14,902 | ) | (13,982 | ) | 65,034 | 66,926 | 48,757 | 71,559 | 276,438 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(1,046 | ) | (45,608 | ) | 51,757 | (192,795 | ) | 282,195 | (637,790 | ) | 29,720 | (483,836 | ) | |||||||||||||||||||
Reinvested capital gains |
51,292 | - | 25,172 | 55,600 | 380,957 | 123,169 | 70,083 | 183,936 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
38,386 | (60,532 | ) | 65,097 | (67,317 | ) | 751,218 | (437,569 | ) | 185,011 | (11,828 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
26,172 | 5,829 | 980 | (141 | ) | 7,825 | 11,577 | 76,818 | 74,810 | |||||||||||||||||||||||
Transfers between funds |
(23,061 | ) | 1,104,418 | 27,926 | (843,732 | ) | 85,643 | 8,659 | (23,374 | ) | (274,471 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(16,980 | ) | (944 | ) | (75,542 | ) | (916 | ) | (39,366 | ) | - | (73,250 | ) | (220,937 | ) | |||||||||||||||||
Death benefits (note 4) |
(38 | ) | - | (532 | ) | (2,453 | ) | (94,749 | ) | (158 | ) | (1 | ) | (13,793 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(7,513 | ) | 1,068 | 67,987 | (16,243 | ) | (744 | ) | (605 | ) | (12,339 | ) | 22,501 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
(136 | ) | - | - | - | - | - | (55 | ) | (2,373 | ) | |||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(33,221 | ) | (4,719 | ) | (4,423 | ) | (10,168 | ) | (43,151 | ) | (44,685 | ) | (86,320 | ) | (91,094 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,022 | ) | (479 | ) | (280 | ) | (308 | ) | (84 | ) | (80 | ) | (7,180 | ) | (8,283 | ) | ||||||||||||||||
MSP contracts |
(64 | ) | (8 | ) | - | - | - | - | (510 | ) | (511 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
(253 | ) | (36 | ) | - | - | - | - | (987 | ) | (1,113 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
(4 | ) | (2 | ) | (102 | ) | 36 | 59 | (23 | ) | 45 | (25 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(58,120 | ) | 1,105,127 | 16,014 | (873,925 | ) | (84,567 | ) | (25,315 | ) | (127,153 | ) | (515,289 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(19,734 | ) | 1,044,595 | 81,111 | (941,242 | ) | 666,651 | (462,884 | ) | 57,858 | (527,117 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
1,044,595 | - | 232,327 | 1,173,569 | 4,935,285 | 5,398,169 | 1,989,523 | 2,516,640 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,024,861 | 1,044,595 | 313,438 | 232,327 | 5,601,936 | 4,935,285 | 2,047,381 | 1,989,523 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
108,814 | - | 10,845 | 50,604 | 307,667 | 307,696 | 68,268 | 85,955 | ||||||||||||||||||||||||
Units purchased |
11,004 | 109,426 | 2,335 | 116 | 5,627 | 9,344 | 3,460 | 4,332 | ||||||||||||||||||||||||
Units redeemed |
(17,325 | ) | (612 | ) | (1,488 | ) | (39,875 | ) | (11,926 | ) | (9,373 | ) | (7,781 | ) | (22,019 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
102,493 | 108,814 | 11,692 | 10,845 | 301,368 | 307,667 | 63,947 | 68,268 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTB3 | NOTG3 | NOTMG3 | ALVGIA | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 484 | 421 | 464 | - | 645 | 1 | 183,140 | 302,224 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(205 | ) | (81 | ) | 13 | - | 30 | (6 | ) | 806,879 | 2,802,381 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
1,827 | (3,704 | ) | 890 | - | 1,527 | (280 | ) | 94,274 | (2,681,596 | ) | |||||||||||||||||||||
Reinvested capital gains |
- | 840 | - | - | - | 2 | 1,358,916 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
2,106 | (2,524 | ) | 1,367 | - | 2,202 | (283 | ) | 2,443,209 | 423,009 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
3,526 | 3,091 | 2,400 | - | 3,425 | 96 | 997,498 | 656,682 | ||||||||||||||||||||||||
Transfers between funds |
- | 35,616 | 27,310 | - | 27,176 | 11,917 | 197,020 | (1,044,477 | ) | |||||||||||||||||||||||
Surrenders (note 6) |
- | - | - | - | - | - | (853,576 | ) | (254,914 | ) | ||||||||||||||||||||||
Death benefits (note 4) |
- | - | - | - | - | (80 | ) | (162,535 | ) | (86,944 | ) | |||||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | - | (2 | ) | - | (80,714 | ) | (35,928 | ) | |||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (32 | ) | (76 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges |
(2,344 | ) | (1,580 | ) | - | - | (830 | ) | (117 | ) | (412,643 | ) | (380,354 | ) | ||||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(180 | ) | (136 | ) | - | - | (71 | ) | (10 | ) | (10,861 | ) | (11,936 | ) | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | (9 | ) | |||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (1,137 | ) | (1,049 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
1 | 2 | 4 | - | (2 | ) | (7 | ) | 129 | 15 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
1,003 | 36,993 | 29,714 | - | 29,696 | 11,799 | (326,851 | ) | (1,158,990 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
3,109 | 34,469 | 31,081 | - | 31,898 | 11,516 | 2,116,358 | (735,981 | ) | |||||||||||||||||||||||
Contract owners equity beginning of period |
34,469 | - | - | - | 11,626 | 110 | 22,576,076 | 23,312,057 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 37,578 | 34,469 | 31,081 | - | 43,524 | 11,626 | 24,692,434 | 22,576,076 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
3,395 | - | - | - | 1,135 | 10 | 794,184 | 831,086 | ||||||||||||||||||||||||
Units purchased |
337 | 3,559 | 2,939 | - | 2,975 | 1,145 | 97,078 | 104,552 | ||||||||||||||||||||||||
Units redeemed |
(241 | ) | (164 | ) | - | - | (107 | ) | (20 | ) | (109,703 | ) | (141,454 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
3,491 | 3,395 | 2,939 | - | 4,003 | 1,135 | 781,559 | 794,184 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ALVIVA | ALVSVA | ACVCA | ACVIG | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 98,895 | 200,918 | 95,688 | 137,656 | (1,352 | ) | (1,383 | ) | 426,520 | 419,678 | |||||||||||||||||||||
Realized gain (loss) on investments |
52,827 | 186,636 | (305,256 | ) | 596,243 | (53,917 | ) | 128,696 | 371,827 | 851,186 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(225,135 | ) | (204,444 | ) | 3,440,962 | (4,989,028 | ) | 20,702 | (175,817 | ) | 1,164,262 | (4,205,843 | ) | |||||||||||||||||||
Reinvested capital gains |
- | - | 1,047,125 | 3,136,679 | 57,974 | 40,745 | 338,152 | 1,774,328 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(73,413 | ) | 183,110 | 4,278,519 | (1,118,450 | ) | 23,407 | (7,759 | ) | 2,300,761 | (1,160,651 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
62,743 | 51,523 | 1,644,940 | 1,461,610 | 995 | 9,742 | 573,968 | 669,433 | ||||||||||||||||||||||||
Transfers between funds |
944,633 | (208,364 | ) | (918,086 | ) | (872,423 | ) | 54,201 | (974,543 | ) | (414,361 | ) | (2,996,080 | ) | ||||||||||||||||||
Surrenders (note 6) |
(34,837 | ) | (31,396 | ) | (1,500,075 | ) | (833,498 | ) | - | (39,539 | ) | (732,368 | ) | (774,796 | ) | |||||||||||||||||
Death benefits (note 4) |
(113,299 | ) | (11,255 | ) | (246,951 | ) | (91,225 | ) | (317 | ) | - | (65,914 | ) | (25,954 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(9,202 | ) | (12,116 | ) | 26,490 | 22,573 | (6,936 | ) | (4,252 | ) | 40,035 | (30,040 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (760 | ) | (637 | ) | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(100,542 | ) | (98,197 | ) | (326,930 | ) | (334,411 | ) | (7,081 | ) | (11,158 | ) | (727,834 | ) | (752,010 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,474 | ) | (3,925 | ) | (25,937 | ) | (28,268 | ) | (94 | ) | (127 | ) | (49,399 | ) | (54,786 | ) | ||||||||||||||||
MSP contracts |
- | - | (1,292 | ) | (1,487 | ) | - | - | (2,438 | ) | (2,502 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (909 | ) | (1,162 | ) | - | - | (4,684 | ) | (4,817 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
27 | (12 | ) | 99 | (34 | ) | 9 | 17 | 33 | (11 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
746,049 | (313,742 | ) | (1,349,411 | ) | (678,962 | ) | 40,777 | (1,019,860 | ) | (1,382,962 | ) | (3,971,563 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
672,636 | (130,632 | ) | 2,929,108 | (1,797,412 | ) | 64,184 | (1,027,619 | ) | 917,799 | (5,132,214 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
8,359,637 | 8,490,269 | 18,216,191 | 20,013,603 | 578,782 | 1,606,401 | 18,198,664 | 23,330,878 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 9,032,273 | 8,359,637 | 21,145,299 | 18,216,191 | 642,966 | 578,782 | 19,116,463 | 18,198,664 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
981,220 | 1,020,175 | 496,940 | 515,175 | 51,411 | 145,072 | 724,329 | 899,634 | ||||||||||||||||||||||||
Units purchased |
132,544 | 122,212 | 55,946 | 57,994 | 7,076 | 40,099 | 28,703 | 37,344 | ||||||||||||||||||||||||
Units redeemed |
(45,368 | ) | (161,167 | ) | (91,939 | ) | (76,229 | ) | (3,039 | ) | (133,760 | ) | (81,586 | ) | (212,649 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,068,396 | 981,220 | 460,947 | 496,940 | 55,448 | 51,411 | 671,446 | 724,329 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACVIP2 | ACVI | ACVMV1 | ACVU1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 169,764 | 241,073 | 13,171 | 3,505 | 256,336 | 212,262 | 762 | 4,169 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(280,531 | ) | (639,745 | ) | (24,989 | ) | 275,464 | 650,476 | 837,810 | (9,261 | ) | 398,710 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
442,667 | 123,310 | (41,076 | ) | (294,239 | ) | 1,583,924 | (1,860,368 | ) | 11,788 | (428,278 | ) | ||||||||||||||||||||
Reinvested capital gains |
68,878 | - | - | - | 662,743 | 591,112 | 29,328 | 145,277 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
400,778 | (275,362 | ) | (52,894 | ) | (15,270 | ) | 3,153,479 | (219,184 | ) | 32,617 | 119,878 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
208,158 | 269,923 | 37,381 | 52,261 | 2,008,345 | 2,030,673 | (28 | ) | (2,017 | ) | ||||||||||||||||||||||
Transfers between funds |
276,991 | (1,391,360 | ) | 2,205,842 | (344,366 | ) | 3,380,248 | 304,557 | (168,750 | ) | (940,187 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(594,029 | ) | (1,415,172 | ) | - | (11,288 | ) | (1,969,265 | ) | (1,084,397 | ) | - | (4,262 | ) | ||||||||||||||||||
Death benefits (note 4) |
(19,227 | ) | (60,792 | ) | (16,463 | ) | (1,993 | ) | (16,126 | ) | (16,851 | ) | (31,827 | ) | (10,114 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
9,756 | 271,635 | 10,713 | 10,193 | (560,576 | ) | (576,625 | ) | - | 4,262 | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(980 | ) | (807 | ) | - | - | (1,030 | ) | (1,299 | ) | - | - | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(457,129 | ) | (338,312 | ) | (80,473 | ) | (72,974 | ) | (524,739 | ) | (397,752 | ) | (7,255 | ) | (15,293 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(19,530 | ) | (26,165 | ) | - | (93 | ) | (28,619 | ) | (26,211 | ) | - | - | |||||||||||||||||||
MSP contracts |
(871 | ) | (998 | ) | - | - | (856 | ) | (815 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(10,081 | ) | (13,174 | ) | - | - | (2,274 | ) | (1,712 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
(2 | ) | 8 | (596 | ) | 83 | 40 | (10 | ) | (5 | ) | (15 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(606,944 | ) | (2,705,214 | ) | 2,156,404 | (368,177 | ) | 2,285,148 | 229,558 | (207,865 | ) | (967,626 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(206,166 | ) | (2,980,576 | ) | 2,103,510 | (383,447 | ) | 5,438,627 | 10,374 | (175,248 | ) | (847,748 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
9,526,951 | 12,507,527 | 1,476,332 | 1,859,779 | 13,389,899 | 13,379,525 | 751,055 | 1,598,803 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 9,320,785 | 9,526,951 | 3,579,842 | 1,476,332 | 18,828,526 | 13,389,899 | 575,807 | 751,055 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
611,924 | 783,544 | 103,448 | 119,008 | 500,601 | 492,846 | 34,702 | 77,382 | ||||||||||||||||||||||||
Units purchased |
49,043 | 79,664 | 176,570 | 32,016 | 197,372 | 93,051 | - | 6,369 | ||||||||||||||||||||||||
Units redeemed |
(87,448 | ) | (251,284 | ) | (12,994 | ) | (47,576 | ) | (124,139 | ) | (85,296 | ) | (9,166 | ) | (49,049 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
573,519 | 611,924 | 267,024 | 103,448 | 573,834 | 500,601 | 25,536 | 34,702 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACVV | DVMCS | DVSCS | DCAP | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 367,831 | 461,129 | 21,071 | 15,494 | 644,678 | 500,049 | 316,096 | 390,920 | |||||||||||||||||||||||
Realized gain (loss) on investments |
529,693 | 3,154,136 | (120,562 | ) | 198,637 | 3,267,414 | 6,601,408 | 49,053 | 1,918,192 | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,569,445 | (4,474,016 | ) | 270,397 | (875,105 | ) | 9,684,971 | (15,200,764 | ) | (1,823,974 | ) | (4,071,115 | ) | |||||||||||||||||||
Reinvested capital gains |
- | - | 180,460 | 596,636 | 7,680,217 | 5,950,257 | 2,952,589 | 1,203,674 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
4,466,969 | (858,751 | ) | 351,366 | (64,338 | ) | 21,277,280 | (2,149,050 | ) | 1,493,764 | (558,329 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
795,754 | 657,025 | 145,799 | 109,111 | 3,455,314 | 3,195,897 | 693,058 | 780,709 | ||||||||||||||||||||||||
Transfers between funds |
2,801,057 | (2,482,617 | ) | (289,830 | ) | (615,867 | ) | 3,805,842 | (3,333,747 | ) | (746,478 | ) | (5,431,263 | ) | ||||||||||||||||||
Surrenders (note 6) |
(3,212,897 | ) | (1,249,745 | ) | (82,479 | ) | (272,553 | ) | (4,128,661 | ) | (4,875,464 | ) | (2,043,962 | ) | (1,461,734 | ) | ||||||||||||||||
Death benefits (note 4) |
(19,357 | ) | (13,609 | ) | (44,989 | ) | (26,122 | ) | (303,924 | ) | (567,716 | ) | (25,195 | ) | (277,600 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
(175,120 | ) | (31,045 | ) | 23,001 | 2,110 | (497,052 | ) | (378,912 | ) | 79,030 | 145,066 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | (1,133 | ) | (1,667 | ) | (311 | ) | (1,375 | ) | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(341,643 | ) | (331,625 | ) | (38,482 | ) | (49,148 | ) | (1,488,559 | ) | (1,434,243 | ) | (717,630 | ) | (775,500 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(4,678 | ) | (5,431 | ) | (25 | ) | (23 | ) | (41,377 | ) | (43,910 | ) | (51,856 | ) | (58,922 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | (925 | ) | (1,101 | ) | (1,628 | ) | (1,723 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | (6,668 | ) | (6,847 | ) | (5,254 | ) | (6,220 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
567 | (151 | ) | 37 | 2 | 459 | (44 | ) | (7 | ) | 10 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(156,317 | ) | (3,457,198 | ) | (286,968 | ) | (852,490 | ) | 793,316 | (7,447,754 | ) | (2,820,233 | ) | (7,088,552 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
4,310,652 | (4,315,949 | ) | 64,398 | (916,828 | ) | 22,070,596 | (9,596,804 | ) | (1,326,469 | ) | (7,646,881 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
21,342,297 | 25,658,246 | 2,518,807 | 3,435,635 | 84,362,335 | 93,959,139 | 20,291,117 | 27,937,998 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 25,652,949 | 21,342,297 | 2,583,205 | 2,518,807 | 106,432,931 | 84,362,335 | 18,964,648 | 20,291,117 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
723,165 | 813,491 | 79,448 | 104,891 | 3,013,709 | 3,271,232 | 800,138 | 1,135,867 | ||||||||||||||||||||||||
Units purchased |
128,366 | 72,806 | 5,647 | 25,223 | 313,967 | 154,600 | 59,972 | 37,217 | ||||||||||||||||||||||||
Units redeemed |
(130,318 | ) | (163,132 | ) | (14,388 | ) | (50,666 | ) | (298,528 | ) | (412,123 | ) | (179,703 | ) | (372,946 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
721,213 | 723,165 | 70,707 | 79,448 | 3,029,148 | 3,013,709 | 680,407 | 800,138 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DSC | DVIV | SVSSVB | SVSLVB | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | - | - | 65,598 | 108,634 | 56 | (656 | ) | 490 | 1,283 | ||||||||||||||||||||||
Realized gain (loss) on investments |
49,312 | 92,242 | (109,793 | ) | 247,961 | (6,309 | ) | 30,987 | 6,193 | 5,181 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
17,610 | (129,288 | ) | (30,414 | ) | (461,605 | ) | 14,993 | (57,660 | ) | (20,336 | ) | (24,268 | ) | ||||||||||||||||||
Reinvested capital gains |
73,582 | 15,609 | - | - | 20,455 | 26,754 | 5,236 | 6,415 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
140,504 | (21,437 | ) | (74,609 | ) | (105,010 | ) | 29,195 | (575 | ) | (8,417 | ) | (11,389 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
94,501 | 64,907 | 39,144 | 62,203 | - | 8,291 | (5 | ) | 609 | |||||||||||||||||||||||
Transfers between funds |
(55,937 | ) | (38,876 | ) | (510,632 | ) | (668,952 | ) | (2,676 | ) | (472,358 | ) | (23,726 | ) | 3,511 | |||||||||||||||||
Surrenders (note 6) |
(37,835 | ) | (73,276 | ) | (55,089 | ) | (725,192 | ) | - | (14,339 | ) | (21,651 | ) | - | ||||||||||||||||||
Death benefits (note 4) |
- | - | (5,157 | ) | (29,864 | ) | - | - | (3,319 | ) | - | |||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(5,578 | ) | (5,455 | ) | (36,024 | ) | (14,355 | ) | (7,780 | ) | (16,440 | ) | (2,972 | ) | (3,429 | ) | ||||||||||||||||
Deductions for surrender charges (note 2d) |
(4 | ) | - | - | - | - | - | - | - | |||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(33,745 | ) | (38,141 | ) | (56,105 | ) | (76,134 | ) | (7,872 | ) | (9,343 | ) | (2,673 | ) | (3,063 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(2,781 | ) | (3,272 | ) | (73 | ) | (602 | ) | (68 | ) | (116 | ) | - | - | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
(490 | ) | (489 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
(19 | ) | 15 | 15 | 6 | 8 | (14 | ) | 5 | (9 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(41,888 | ) | (94,587 | ) | (623,921 | ) | (1,452,890 | ) | (18,388 | ) | (504,319 | ) | (54,341 | ) | (2,381 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
98,616 | (116,024 | ) | (698,530 | ) | (1,557,900 | ) | 10,807 | (504,894 | ) | (62,758 | ) | (13,770 | ) | ||||||||||||||||||
Contract owners equity beginning of period |
951,485 | 1,067,509 | 3,953,737 | 5,511,637 | 208,665 | 713,559 | 141,848 | 155,618 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,050,101 | 951,485 | 3,255,207 | 3,953,737 | 219,472 | 208,665 | 79,090 | 141,848 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
42,927 | 47,065 | 216,185 | 291,203 | 14,430 | 48,141 | 10,596 | 10,766 | ||||||||||||||||||||||||
Units purchased |
4,170 | 4,134 | 3,063 | 11,326 | 681 | 558 | 13 | 276 | ||||||||||||||||||||||||
Units redeemed |
(6,629 | ) | (8,272 | ) | (38,262 | ) | (86,344 | ) | (2,066 | ) | (34,269 | ) | (4,401 | ) | (446 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
40,468 | 42,927 | 180,986 | 216,185 | 13,045 | 14,430 | 6,208 | 10,596 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FVCA2P | FQB | FCS | FNRS2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 12,092 | 12,215 | 864,340 | 985,664 | 139,251 | 234,265 | 34,207 | 69,431 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(7,679 | ) | (5,098 | ) | (51,284 | ) | 67,659 | 836,270 | 9,664,141 | (160,950 | ) | (355,513 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
(33,120 | ) | (55,868 | ) | 96,277 | (1,139,269 | ) | (1,478,476 | ) | (14,401,641 | ) | 2,032,472 | (1,512,594 | ) | ||||||||||||||||||
Reinvested capital gains |
- | 1,024 | - | - | 2,642,744 | 5,099,951 | - | 212,716 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(28,707 | ) | (47,727 | ) | 909,333 | (85,946 | ) | 2,139,789 | 596,716 | 1,905,729 | (1,585,960 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
21,710 | 37,018 | 791,646 | 728,293 | 227,468 | 124,099 | 568,686 | 575,031 | ||||||||||||||||||||||||
Transfers between funds |
33,340 | (5,823 | ) | (81,969 | ) | (1,251,466 | ) | (3,993,111 | ) | (22,411,101 | ) | 610,002 | (178,858 | ) | ||||||||||||||||||
Surrenders (note 6) |
(17,080 | ) | (52,539 | ) | (1,276,326 | ) | (963,828 | ) | (1,542,907 | ) | (3,855,904 | ) | (815,429 | ) | (426,228 | ) | ||||||||||||||||
Death benefits (note 4) |
- | (8,410 | ) | (344,465 | ) | (311,833 | ) | (327,830 | ) | (377,056 | ) | (33,360 | ) | (24,380 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(3,602 | ) | 6,006 | 41,379 | 51,060 | (27,576 | ) | 190,929 | 145,619 | 44,823 | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(35 | ) | - | (231 | ) | (237 | ) | - | - | (898 | ) | (646 | ) | |||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(21,657 | ) | (22,707 | ) | (781,792 | ) | (796,663 | ) | (444,027 | ) | (545,016 | ) | (313,806 | ) | (284,798 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(1,753 | ) | (2,050 | ) | (51,872 | ) | (56,887 | ) | (1,793 | ) | (2,013 | ) | (17,987 | ) | (19,580 | ) | ||||||||||||||||
MSP contracts |
- | - | (2,869 | ) | (3,510 | ) | - | - | (997 | ) | (1,836 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
(409 | ) | (443 | ) | (5,233 | ) | (5,620 | ) | - | - | (5,021 | ) | (5,339 | ) | ||||||||||||||||||
Adjustments to maintain reserves |
(2 | ) | (3 | ) | 40 | 36 | 14,171 | 974 | 16 | (13 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
10,512 | (48,951 | ) | (1,711,692 | ) | (2,610,655 | ) | (6,095,605 | ) | (26,875,088 | ) | 136,825 | (321,824 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(18,195 | ) | (96,678 | ) | (802,359 | ) | (2,696,601 | ) | (3,955,816 | ) | (26,278,372 | ) | 2,042,554 | (1,907,784 | ) | |||||||||||||||||
Contract owners equity beginning of period |
695,612 | 792,290 | 25,290,762 | 27,987,363 | 34,056,039 | 60,334,411 | 6,117,397 | 8,025,181 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 677,417 | 695,612 | 24,488,403 | 25,290,762 | 30,100,223 | 34,056,039 | 8,159,951 | 6,117,397 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
40,403 | 43,124 | 1,164,659 | 1,283,800 | 1,229,565 | 2,176,373 | 390,067 | 405,538 | ||||||||||||||||||||||||
Units purchased |
3,551 | 2,279 | 51,273 | 51,886 | 49,359 | 6,280 | 52,776 | 53,678 | ||||||||||||||||||||||||
Units redeemed |
(2,884 | ) | (5,000 | ) | (128,395 | ) | (171,027 | ) | (271,487 | ) | (953,088 | ) | (53,121 | ) | (69,149 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
41,070 | 40,403 | 1,087,537 | 1,164,659 | 1,007,437 | 1,229,565 | 389,722 | 390,067 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FEIS | FF10S | FF20S | FF30S | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,223,394 | 1,804,717 | 31,950 | 38,038 | 418,821 | 455,452 | 194,393 | 201,673 | |||||||||||||||||||||||
Realized gain (loss) on investments |
2,334,674 | 2,980,977 | 28,707 | 73,170 | 584,496 | 328,768 | 324,829 | 310,788 | ||||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
2,162,641 | (13,017,860 | ) | (1,999 | ) | (116,011 | ) | (91,861 | ) | (1,032,078 | ) | (96,024 | ) | (700,905 | ) | |||||||||||||||||
Reinvested capital gains |
3,649,305 | 5,673,847 | 48,953 | 6,570 | 877,797 | 119,356 | 495,769 | 66,107 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
9,370,014 | (2,558,319 | ) | 107,611 | 1,767 | 1,789,253 | (128,502 | ) | 918,967 | (122,337 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
2,607,407 | 2,768,204 | 50,878 | 42,257 | 1,916,767 | 2,424,707 | 2,794,468 | 1,267,498 | ||||||||||||||||||||||||
Transfers between funds |
(930,611 | ) | (1,821,129 | ) | 53,126 | 116,816 | 4,097,899 | 4,069,008 | 209,861 | 2,387,781 | ||||||||||||||||||||||
Surrenders (note 6) |
(4,057,397 | ) | (2,870,919 | ) | (27,625 | ) | (48,159 | ) | (582,195 | ) | (734,627 | ) | (330,926 | ) | (450,687 | ) | ||||||||||||||||
Death benefits (note 4) |
(288,027 | ) | (452,890 | ) | (15,769 | ) | (310,889 | ) | (1,053,528 | ) | (44,364 | ) | (30,288 | ) | (20,815 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
(330,076 | ) | 539,684 | (13,573 | ) | (19,212 | ) | 168,296 | 45,903 | (32,995 | ) | (15,328 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
(2,248 | ) | (1,564 | ) | (4 | ) | (503 | ) | (246 | ) | (857 | ) | (1,180 | ) | (2,617 | ) | ||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(2,213,344 | ) | (2,256,171 | ) | (59,667 | ) | (61,389 | ) | (665,223 | ) | (650,441 | ) | (332,867 | ) | (296,668 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(145,129 | ) | (156,849 | ) | (4,598 | ) | (4,806 | ) | (14,172 | ) | (22,620 | ) | (19,198 | ) | (19,360 | ) | ||||||||||||||||
MSP contracts |
(5,972 | ) | (6,841 | ) | (3,924 | ) | (3,956 | ) | (3,876 | ) | (4,102 | ) | (1,576 | ) | (1,633 | ) | ||||||||||||||||
SL contracts or LSFP contracts |
(17,134 | ) | (18,890 | ) | (450 | ) | (511 | ) | (5,650 | ) | (4,798 | ) | (1,168 | ) | (1,169 | ) | ||||||||||||||||
Adjustments to maintain reserves |
737 | (194 | ) | (17 | ) | 8 | 181 | 9 | 57 | 17 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(5,381,794 | ) | (4,277,559 | ) | (21,623 | ) | (290,344 | ) | 3,858,253 | 5,077,818 | 2,254,188 | 2,847,019 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
3,988,220 | (6,835,878 | ) | 85,988 | (288,577 | ) | 5,647,506 | 4,949,316 | 3,173,155 | 2,724,682 | ||||||||||||||||||||||
Contract owners equity beginning of period |
56,301,658 | 63,137,536 | 2,221,284 | 2,509,861 | 27,384,785 | 22,435,469 | 12,707,207 | 9,982,525 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 60,289,878 | 56,301,658 | 2,307,272 | 2,221,284 | 33,032,291 | 27,384,785 | 15,880,362 | 12,707,207 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,345,447 | 2,527,460 | 125,604 | 141,331 | 1,516,176 | 1,234,002 | 670,689 | 523,809 | ||||||||||||||||||||||||
Units purchased |
184,640 | 163,364 | 11,292 | 8,899 | 420,340 | 363,732 | 245,843 | 193,483 | ||||||||||||||||||||||||
Units redeemed |
(403,765 | ) | (345,377 | ) | (13,069 | ) | (24,626 | ) | (205,426 | ) | (81,558 | ) | (127,681 | ) | (46,603 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,126,322 | 2,345,447 | 123,827 | 125,604 | 1,731,090 | 1,516,176 | 788,851 | 670,689 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FFINS | FGOS | FGS | FHIS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 11,606 | 18,948 | (86 | ) | (2,514 | ) | (70,579 | ) | 72,335 | 672,461 | 878,992 | ||||||||||||||||||||
Realized gain (loss) on investments |
2,529 | 9,315 | (10,388 | ) | 1,000,287 | 2,610,095 | 4,135,585 | (211,169 | ) | (64,469 | ) | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
9,956 | (37,989 | ) | 1,875 | (905,602 | ) | (10,188,118 | ) | (909,306 | ) | 1,266,607 | (1,507,420 | ) | |||||||||||||||||||
Reinvested capital gains |
10,223 | 1,706 | 5,913 | 51,369 | 8,191,795 | 2,753,757 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
34,314 | (8,020 | ) | (2,686 | ) | 143,540 | 543,193 | 6,052,371 | 1,727,899 | (692,897 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
79 | 8 | 1,384 | (4,220 | ) | 4,097,522 | 3,766,330 | 366,082 | 228,307 | |||||||||||||||||||||||
Transfers between funds |
(269,671 | ) | 262,995 | (76,935 | ) | (2,749,963 | ) | (806,936 | ) | (290,920 | ) | (267,096 | ) | 1,993,788 | ||||||||||||||||||
Surrenders (note 6) |
(15,906 | ) | (47,100 | ) | - | - | (3,142,937 | ) | (5,051,189 | ) | (646,973 | ) | (628,799 | ) | ||||||||||||||||||
Death benefits (note 4) |
(5,331 | ) | (7,226 | ) | (1,191 | ) | (130,391 | ) | (423,104 | ) | (570,580 | ) | (13,860 | ) | (339,331 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | 59,294 | (186,588 | ) | 163,841 | 30,074 | 64,190 | |||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | (1,636 | ) | (2,917 | ) | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(8,178 | ) | (9,843 | ) | (6,865 | ) | (24,699 | ) | (3,377,607 | ) | (3,325,228 | ) | (428,781 | ) | (389,909 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | - | (5 | ) | (195,612 | ) | (219,282 | ) | (22,174 | ) | (20,861 | ) | |||||||||||||||||||
MSP contracts |
- | - | - | - | (5,840 | ) | (7,092 | ) | (1,647 | ) | (1,553 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | (16,383 | ) | (17,984 | ) | (2,322 | ) | (2,051 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
(1 | ) | 2 | 309 | 6,514 | 1,055 | 7,991 | 43 | 28 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(299,008 | ) | 198,836 | (83,298 | ) | (2,843,470 | ) | (4,058,066 | ) | (5,547,030 | ) | (986,654 | ) | 903,809 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(264,694 | ) | 190,816 | (85,984 | ) | (2,699,930 | ) | (3,514,873 | ) | 505,341 | 741,245 | 210,912 | ||||||||||||||||||||
Contract owners equity beginning of period |
1,230,126 | 1,039,310 | 437,298 | 3,137,228 | 89,520,714 | 89,015,373 | 12,742,577 | 12,531,665 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 965,432 | 1,230,126 | 351,314 | 437,298 | 86,005,841 | 89,520,714 | 13,483,822 | 12,742,577 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
104,625 | 87,841 | 20,793 | 176,408 | 3,760,319 | 4,030,458 | 656,054 | 617,230 | ||||||||||||||||||||||||
Units purchased |
- | 22,186 | 75 | 230 | 334,362 | 307,264 | 44,241 | 459,283 | ||||||||||||||||||||||||
Units redeemed |
(25,746 | ) | (5,402 | ) | (4,294 | ) | (155,845 | ) | (447,707 | ) | (577,403 | ) | (93,273 | ) | (420,459 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
78,879 | 104,625 | 16,574 | 20,793 | 3,646,974 | 3,760,319 | 607,022 | 656,054 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIP | FIGBS | FMCS | FMMP | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 606,990 | 833,807 | 4,004,748 | 4,074,283 | 127,998 | 138,089 | 1,420 | - | |||||||||||||||||||||||
Realized gain (loss) on investments |
1,887,634 | 2,422,243 | (204,023 | ) | (523,374 | ) | (77,131 | ) | 1,457,252 | - | - | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
3,029,372 | (2,744,568 | ) | 3,497,427 | (5,318,505 | ) | 1,999,382 | (8,149,939 | ) | - | - | |||||||||||||||||||||
Reinvested capital gains |
50,473 | 23,251 | 81,868 | 127,077 | 2,510,379 | 6,009,549 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
5,574,469 | 534,733 | 7,380,020 | (1,640,519 | ) | 4,560,628 | (545,049 | ) | 1,420 | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
5,229 | 1,898 | 2,532,039 | 1,664,295 | 1,771,728 | 1,699,316 | - | - | ||||||||||||||||||||||||
Transfers between funds |
(238,990 | ) | 13,964,305 | 10,783,694 | 22,909,778 | (1,592,280 | ) | (4,857,132 | ) | 9,556,817 | - | |||||||||||||||||||||
Surrenders (note 6) |
(844,463 | ) | (1,808,100 | ) | (2,315,119 | ) | (2,408,131 | ) | (4,778,727 | ) | (3,440,765 | ) | (191,000 | ) | - | |||||||||||||||||
Death benefits (note 4) |
(241,755 | ) | (284,334 | ) | (401,534 | ) | (65,032 | ) | (129,612 | ) | (107,914 | ) | - | - | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | (132,672 | ) | 6,359 | 66,347 | (132,977 | ) | - | - | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (456 | ) | (1,185 | ) | (1,346 | ) | (2,474 | ) | - | - | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(397,599 | ) | (365,699 | ) | (2,126,907 | ) | (1,906,105 | ) | (1,226,023 | ) | (1,226,525 | ) | (14,435 | ) | - | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | (23,897 | ) | (25,756 | ) | (76,732 | ) | (92,075 | ) | - | - | ||||||||||||||||||||
MSP contracts |
- | - | (3,726 | ) | (3,844 | ) | (4,253 | ) | (4,496 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (8,076 | ) | (7,701 | ) | (11,293 | ) | (12,662 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
331 | 1 | 854 | (18 | ) | 181 | (57 | ) | 98 | - | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,717,247 | ) | 11,508,071 | 8,304,200 | 20,162,660 | (5,982,010 | ) | (8,177,761 | ) | 9,351,480 | - | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
3,857,222 | 12,042,804 | 15,684,220 | 18,522,141 | (1,421,382 | ) | (8,722,810 | ) | 9,352,900 | - | ||||||||||||||||||||||
Contract owners equity beginning of period |
46,835,841 | 34,793,037 | 170,471,100 | 151,948,959 | 41,543,203 | 50,266,013 | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 50,693,063 | 46,835,841 | 186,155,320 | 170,471,100 | 40,121,821 | 41,543,203 | 9,352,900 | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,841,994 | 2,135,022 | 10,467,562 | 9,237,349 | 977,992 | 1,164,190 | - | - | ||||||||||||||||||||||||
Units purchased |
- | 856,530 | 918,336 | 1,586,606 | 63,305 | 42,622 | 955,677 | - | ||||||||||||||||||||||||
Units redeemed |
(86,378 | ) | (149,558 | ) | (437,687 | ) | (356,393 | ) | (197,740 | ) | (228,820 | ) | (20,542 | ) | - | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,755,616 | 2,841,994 | 10,948,211 | 10,467,562 | 843,557 | 977,992 | 935,135 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOS | FVSS | FF05S | FF15S | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 210,115 | 233,301 | 34,110 | 37,283 | 3,773 | 2,746 | 97,252 | 168,602 | |||||||||||||||||||||||
Realized gain (loss) on investments |
201,818 | 847,327 | 173,115 | 1,041,060 | (2,136 | ) | 193 | (311,500 | ) | 181,306 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(1,371,624 | ) | (1,453,059 | ) | 77,116 | (1,184,629 | ) | 7,036 | (5,727 | ) | 265,254 | (454,356 | ) | |||||||||||||||||||
Reinvested capital gains |
27,212 | 18,961 | - | 4,120 | 1,970 | 361 | 291,446 | 54,176 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(932,479 | ) | (353,470 | ) | 284,341 | (102,166 | ) | 10,643 | (2,427 | ) | 342,452 | (50,272 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
660,243 | 461,694 | 129,077 | 123,236 | 19 | 2 | 213,200 | 330,847 | ||||||||||||||||||||||||
Transfers between funds |
(850,704 | ) | 10,854,064 | (187,512 | ) | (1,650,801 | ) | 157,867 | 89,017 | (2,830,504 | ) | 1,828,265 | ||||||||||||||||||||
Surrenders (note 6) |
(889,871 | ) | (1,767,228 | ) | (105,854 | ) | (94,861 | ) | (4,990 | ) | (5,300 | ) | (235,445 | ) | (252,054 | ) | ||||||||||||||||
Death benefits (note 4) |
(58,295 | ) | (75,844 | ) | (1,245 | ) | (236,993 | ) | (871 | ) | (688 | ) | (8,302 | ) | (8,494 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
19,020 | 37,753 | 4,176 | 4,858 | - | - | (4,735 | ) | (3,222 | ) | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(694 | ) | (610 | ) | (14 | ) | (127 | ) | - | - | - | - | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(694,255 | ) | (605,284 | ) | (130,752 | ) | (150,992 | ) | (2,017 | ) | (1,018 | ) | (141,053 | ) | (193,308 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(45,565 | ) | (41,140 | ) | (11,073 | ) | (13,482 | ) | - | - | (765 | ) | (909 | ) | ||||||||||||||||||
MSP contracts |
(1,219 | ) | (1,113 | ) | (141 | ) | (153 | ) | - | - | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(6,245 | ) | (5,502 | ) | (334 | ) | (438 | ) | - | - | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
21 | (13 | ) | 21 | (25 | ) | (10 | ) | (2 | ) | 49 | 15 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,867,564 | ) | 8,856,777 | (303,651 | ) | (2,019,778 | ) | 149,998 | 82,011 | (3,007,555 | ) | 1,701,140 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(2,800,043 | ) | 8,503,307 | (19,310 | ) | (2,121,944 | ) | 160,641 | 79,584 | (2,665,103 | ) | 1,650,868 | ||||||||||||||||||||
Contract owners equity beginning of period |
18,130,581 | 9,627,274 | 3,457,479 | 5,579,423 | 171,219 | 91,635 | 10,782,045 | 9,131,177 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 15,330,538 | 18,130,581 | 3,438,169 | 3,457,479 | 331,860 | 171,219 | 8,116,942 | 10,782,045 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
882,090 | 527,024 | 133,932 | 210,258 | 13,584 | 7,230 | 785,176 | 660,580 | ||||||||||||||||||||||||
Units purchased |
44,018 | 814,756 | 8,559 | 7,155 | 12,175 | 6,904 | 43,597 | 179,516 | ||||||||||||||||||||||||
Units redeemed |
(147,604 | ) | (459,690 | ) | (20,765 | ) | (83,481 | ) | (605 | ) | (550 | ) | (269,106 | ) | (54,920 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
778,504 | 882,090 | 121,726 | 133,932 | 25,154 | 13,584 | 559,667 | 785,176 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FF25S | FF40S | GVMCE | GVCSE | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 216,081 | 217,305 | 85,277 | 94,944 | 239,574 | 57,226 | 681 | 100 | |||||||||||||||||||||||
Realized gain (loss) on investments |
27,906 | 467,557 | 26,275 | 439,019 | (3,665,563 | ) | 6,311,028 | (4,145 | ) | (4,040 | ) | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
324,699 | (833,914 | ) | 199,275 | (620,117 | ) | 7,439,462 | (14,080,635 | ) | 11,915 | (5,177 | ) | ||||||||||||||||||||
Reinvested capital gains |
408,452 | 73,306 | 262,373 | 43,025 | 12,988 | 3,193,109 | 1,951 | 8,843 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
977,138 | (75,746 | ) | 573,200 | (43,129 | ) | 4,026,461 | (4,519,272 | ) | 10,402 | (274 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
205,584 | 311,257 | 455,474 | 181,138 | 45,973 | 61,258 | - | - | ||||||||||||||||||||||||
Transfers between funds |
3,589,241 | 3,768,518 | 1,164,414 | 1,381,857 | (17,169,809 | ) | (16,082,002 | ) | 503,737 | 23,527 | ||||||||||||||||||||||
Surrenders (note 6) |
(507,574 | ) | (760,696 | ) | (240,260 | ) | (316,240 | ) | (1,523,422 | ) | (3,531,170 | ) | - | - | ||||||||||||||||||
Death benefits (note 4) |
(26,849 | ) | (36,000 | ) | (34,859 | ) | (8,416 | ) | (151,948 | ) | (92,645 | ) | - | - | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
123,159 | (155,447 | ) | (12,821 | ) | 5,553 | 654,606 | 36,486 | - | - | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(276,676 | ) | (228,885 | ) | (157,394 | ) | (130,081 | ) | (366,718 | ) | (501,834 | ) | (5,478 | ) | (3,605 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(882 | ) | (1,033 | ) | (859 | ) | (858 | ) | - | - | (25 | ) | (22 | ) | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
94 | (8 | ) | 59 | 1 | 286 | (89 | ) | (6 | ) | 5 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
3,106,097 | 2,897,706 | 1,173,754 | 1,112,954 | (18,511,032 | ) | (20,109,996 | ) | 498,228 | 19,905 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
4,083,235 | 2,821,960 | 1,746,954 | 1,069,825 | (14,484,571 | ) | (24,629,268 | ) | 508,630 | 19,631 | ||||||||||||||||||||||
Contract owners equity beginning of period |
13,753,120 | 10,931,160 | 6,716,605 | 5,646,780 | 38,868,918 | 63,498,186 | 59,353 | 39,722 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 17,836,355 | 13,753,120 | 8,463,559 | 6,716,605 | 24,384,347 | 38,868,918 | 567,983 | 59,353 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
974,642 | 769,831 | 429,474 | 358,910 | 1,165,986 | 1,722,307 | 4,569 | 2,986 | ||||||||||||||||||||||||
Units purchased |
304,917 | 285,431 | 142,190 | 99,377 | 27,786 | 2,346 | 31,237 | 2,503 | ||||||||||||||||||||||||
Units redeemed |
(86,100 | ) | (80,620 | ) | (63,811 | ) | (28,813 | ) | (547,578 | ) | (558,667 | ) | (467 | ) | (920 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,193,459 | 974,642 | 507,853 | 429,474 | 646,194 | 1,165,986 | 35,339 | 4,569 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GVGOPS | GVGMNS | SBVSG | BNCAI | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | (3,505 | ) | (3,582 | ) | 53 | 23 | (24,218 | ) | (24,439 | ) | 13,106 | (20,487 | ) | ||||||||||||||||||
Realized gain (loss) on investments |
(181,531 | ) | (165,353 | ) | (700 | ) | 924 | (428,485 | ) | (75,569 | ) | (61,629 | ) | 359,343 | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
203,432 | (60,394 | ) | 1,593 | (3,049 | ) | 679,565 | (650,497 | ) | 20,485 | (1,586,865 | ) | ||||||||||||||||||||
Reinvested capital gains |
8,984 | 119,074 | - | 577 | 458,852 | 250,052 | 397,350 | 783,787 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
27,380 | (110,255 | ) | 946 | (1,525 | ) | 685,714 | (500,453 | ) | 369,312 | (464,222 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
124,341 | 160,356 | 1,354 | 1,285 | 795,320 | 878,039 | 119,274 | 159,303 | ||||||||||||||||||||||||
Transfers between funds |
(259,908 | ) | 383,689 | (8,295 | ) | (360 | ) | 474,679 | 2,704,324 | (2,219,684 | ) | (2,182,156 | ) | |||||||||||||||||||
Surrenders (note 6) |
(30,057 | ) | (246,576 | ) | - | (8,390 | ) | (654,068 | ) | (670,397 | ) | (956,380 | ) | (126,277 | ) | |||||||||||||||||
Death benefits (note 4) |
- | (220 | ) | - | - | (75,471 | ) | (11,029 | ) | (6,507 | ) | (4,041 | ) | |||||||||||||||||||
Net policy repayments (loans) (note 5) |
(1,107 | ) | 246 | (40 | ) | (64 | ) | (13,284 | ) | (30,247 | ) | 680,569 | 19,322 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(28,671 | ) | (29,060 | ) | (1,339 | ) | (1,603 | ) | (198,906 | ) | (185,716 | ) | (76,956 | ) | (94,525 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(96 | ) | (80 | ) | (114 | ) | (141 | ) | (1,700 | ) | (1,038 | ) | (45 | ) | (49 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
(8 | ) | 11 | 7 | 2 | 71 | (3 | ) | 74 | (13 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(195,506 | ) | 268,366 | (8,427 | ) | (9,271 | ) | 326,641 | 2,683,933 | (2,459,655 | ) | (2,228,436 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(168,126 | ) | 158,111 | (7,481 | ) | (10,796 | ) | 1,012,355 | 2,183,480 | (2,090,343 | ) | (2,692,658 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
1,422,670 | 1,264,559 | 26,382 | 37,178 | 11,222,935 | 9,039,455 | 7,628,457 | 10,321,115 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 1,254,544 | 1,422,670 | 18,901 | 26,382 | 12,235,290 | 11,222,935 | 5,538,114 | 7,628,457 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
98,136 | 82,502 | 2,301 | 3,054 | 614,965 | 472,936 | 219,509 | 281,384 | ||||||||||||||||||||||||
Units purchased |
14,382 | 38,878 | 115 | 107 | 151,038 | 198,155 | 27,844 | 5,338 | ||||||||||||||||||||||||
Units redeemed |
(27,017 | ) | (23,244 | ) | (836 | ) | (860 | ) | (131,285 | ) | (56,126 | ) | (96,103 | ) | (67,213 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
85,501 | 98,136 | 1,580 | 2,301 | 634,718 | 614,965 | 151,250 | 219,509 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OVGR | OVGS | OVIG | OVGI | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 19,512 | (19,003 | ) | 635,094 | 891,815 | 98,417 | 48,964 | 328,782 | 282,515 | ||||||||||||||||||||||
Realized gain (loss) on investments |
264,896 | 1,631,191 | 1,947,453 | 6,866,639 | (240,036 | ) | (40,431 | ) | 302,545 | 971,051 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(1,786,574 | ) | (3,585,060 | ) | (7,341,044 | ) | (9,612,017 | ) | (208,566 | ) | (311,357 | ) | (857,756 | ) | (4,973,461 | ) | ||||||||||||||||
Reinvested capital gains |
1,134,448 | 2,549,306 | 4,564,074 | 4,917,842 | 253,641 | 369,692 | 3,618,968 | 4,806,256 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(367,718 | ) | 576,434 | (194,423 | ) | 3,064,279 | (96,544 | ) | 66,868 | 3,392,539 | 1,086,361 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
21,285 | 42,434 | 3,098,848 | 2,917,112 | 1,178,601 | 286,378 | 1,128,983 | 1,157,135 | ||||||||||||||||||||||||
Transfers between funds |
(967,738 | ) | (3,094,453 | ) | (1,287,259 | ) | (3,216,690 | ) | 6,763,318 | 3,108,864 | 65,721 | (493,672 | ) | |||||||||||||||||||
Surrenders (note 6) |
(341,884 | ) | (907,707 | ) | (4,726,982 | ) | (2,122,796 | ) | (270,115 | ) | (155,866 | ) | (1,070,457 | ) | (1,177,100 | ) | ||||||||||||||||
Death benefits (note 4) |
(29,428 | ) | (27,737 | ) | (230,825 | ) | (188,356 | ) | (56,071 | ) | (555 | ) | (130,782 | ) | (248,436 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
213 | (1,060 | ) | (381,272 | ) | (389,434 | ) | (11,040 | ) | 10,851 | (110,909 | ) | (26,854 | ) | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (1,587 | ) | (2,711 | ) | - | - | (453 | ) | (2,573 | ) | ||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(261,498 | ) | (286,464 | ) | (1,716,029 | ) | (1,746,600 | ) | (291,382 | ) | (154,248 | ) | (1,311,913 | ) | (1,252,448 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(44 | ) | (180 | ) | (90,098 | ) | (106,800 | ) | (3,689 | ) | (856 | ) | (93,438 | ) | (99,934 | ) | ||||||||||||||||
MSP contracts |
- | - | (5,087 | ) | (5,943 | ) | - | - | (4,186 | ) | (4,225 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (11,776 | ) | (13,690 | ) | - | - | (7,328 | ) | (7,382 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
(533 | ) | 938 | 296 | 10 | 45 | 5 | 16 | 1 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,579,627 | ) | (4,274,229 | ) | (5,351,771 | ) | (4,875,898 | ) | 7,309,667 | 3,094,573 | (1,534,746 | ) | (2,155,488 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(1,947,345 | ) | (3,697,795 | ) | (5,546,194 | ) | (1,811,619 | ) | 7,213,123 | 3,161,441 | 1,857,793 | (1,069,127 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
12,220,538 | 15,918,333 | 74,591,145 | 76,402,764 | 6,271,624 | 3,110,183 | 30,977,868 | 32,046,995 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 10,273,193 | 12,220,538 | 69,044,951 | 74,591,145 | 13,484,747 | 6,271,624 | 32,835,661 | 30,977,868 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
701,016 | 914,523 | 3,251,249 | 3,457,910 | 567,662 | 290,603 | 1,317,469 | 1,408,467 | ||||||||||||||||||||||||
Units purchased |
8,877 | 6,487 | 208,358 | 186,110 | 746,087 | 305,164 | 81,242 | 73,419 | ||||||||||||||||||||||||
Units redeemed |
(105,872 | ) | (219,994 | ) | (446,364 | ) | (392,771 | ) | (65,201 | ) | (28,105 | ) | (143,698 | ) | (164,417 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
604,021 | 701,016 | 3,013,243 | 3,251,249 | 1,248,548 | 567,662 | 1,255,013 | 1,317,469 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OVSC | OVAG | OVSB | PMVAAA | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 34,134 | 58,791 | (9,849 | ) | (11,928 | ) | 857,814 | 1,300,440 | 522,092 | 759,773 | |||||||||||||||||||||
Realized gain (loss) on investments |
(534 | ) | 434,129 | 617,682 | 1,423,445 | (225,123 | ) | (421,949 | ) | (1,123,681 | ) | (1,140,261 | ) | |||||||||||||||||||
Change in unrealized gain (loss) on investments |
820,876 | (1,865,155 | ) | (1,948,657 | ) | (2,011,294 | ) | 454,100 | (1,400,706 | ) | 3,049,279 | (1,813,156 | ) | |||||||||||||||||||
Reinvested capital gains |
253,053 | 970,386 | 1,878,904 | 2,382,946 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,107,529 | (401,849 | ) | 538,080 | 1,783,169 | 1,086,791 | (522,215 | ) | 2,447,690 | (2,193,644 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
640,941 | 754,062 | 1,042,473 | 1,118,544 | 272,933 | 726,030 | 383,190 | 235,225 | ||||||||||||||||||||||||
Transfers between funds |
(527,673 | ) | 77,440 | (540,255 | ) | (970,448 | ) | (370,342 | ) | 821,764 | (865,254 | ) | (3,364,278 | ) | ||||||||||||||||||
Surrenders (note 6) |
(463,901 | ) | (726,597 | ) | (1,104,213 | ) | (1,831,233 | ) | (1,805,176 | ) | (2,835,868 | ) | (373,289 | ) | (759,216 | ) | ||||||||||||||||
Death benefits (note 4) |
(16,516 | ) | (8,295 | ) | (105,881 | ) | (151,064 | ) | (241 | ) | (4,589 | ) | (111,065 | ) | (161,580 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
14,026 | (11,731 | ) | 99,715 | 18,572 | (291,488 | ) | (344,898 | ) | (3,473 | ) | (10,312 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
(570 | ) | (305 | ) | - | (77 | ) | (316 | ) | (718 | ) | - | - | |||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(244,857 | ) | (253,777 | ) | (1,146,610 | ) | (1,168,729 | ) | (192,235 | ) | (193,121 | ) | (239,560 | ) | (295,949 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(19,520 | ) | (21,529 | ) | (79,119 | ) | (89,114 | ) | (6,750 | ) | (7,027 | ) | (3,308 | ) | (3,250 | ) | ||||||||||||||||
MSP contracts |
(459 | ) | (539 | ) | (1,420 | ) | (1,561 | ) | (108 | ) | (80 | ) | - | - | ||||||||||||||||||
SL contracts or LSFP contracts |
(3,378 | ) | (3,402 | ) | (3,569 | ) | (3,899 | ) | (37,788 | ) | (47,605 | ) | - | - | ||||||||||||||||||
Adjustments to maintain reserves |
16 | (4 | ) | 1,959 | 5,102 | 6 | (1 | ) | 156 | (41 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(621,891 | ) | (194,677 | ) | (1,836,920 | ) | (3,073,907 | ) | (2,431,505 | ) | (1,886,113 | ) | (1,212,603 | ) | (4,359,401 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
485,638 | (596,526 | ) | (1,298,840 | ) | (1,290,738 | ) | (1,344,714 | ) | (2,408,328 | ) | 1,235,087 | (6,553,045 | ) | ||||||||||||||||||
Contract owners equity beginning of period |
6,604,590 | 7,201,116 | 25,440,131 | 26,730,869 | 18,872,561 | 21,280,889 | 20,816,920 | 27,369,965 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 7,090,228 | 6,604,590 | 24,141,291 | 25,440,131 | 17,527,847 | 18,872,561 | 22,052,007 | 20,816,920 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
177,013 | 181,616 | 1,117,680 | 1,275,602 | 1,411,021 | 1,555,119 | 1,268,463 | 1,513,875 | ||||||||||||||||||||||||
Units purchased |
7,936 | 16,587 | 59,549 | 68,241 | 32,726 | 68,292 | 115,227 | 19,946 | ||||||||||||||||||||||||
Units redeemed |
(23,979 | ) | (21,190 | ) | (135,861 | ) | (226,163 | ) | (213,626 | ) | (212,390 | ) | (193,545 | ) | (265,358 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
160,970 | 177,013 | 1,041,368 | 1,117,680 | 1,230,121 | 1,411,021 | 1,190,145 | 1,268,463 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PMVRSA | PMVFBA | PMVLGA | PMVLDA | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,665 | 1,350 | 16,567 | 20,463 | 43,598 | 49,413 | 567,263 | 1,663,091 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(7,714 | ) | (9,415 | ) | (55,055 | ) | (44,538 | ) | 320,082 | 87,015 | (766,389 | ) | (420,973 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
27,656 | (7,630 | ) | 119,503 | (82,502 | ) | (187,530 | ) | (168,979 | ) | 705,346 | (1,114,082 | ) | |||||||||||||||||||
Reinvested capital gains |
- | - | - | 5,347 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
21,607 | (15,695 | ) | 81,015 | (101,230 | ) | 176,150 | (32,551 | ) | 506,220 | 128,036 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
61,502 | 2,356 | 86,092 | 42,012 | 245,836 | 222,907 | 1,420,342 | 1,670,553 | ||||||||||||||||||||||||
Transfers between funds |
42,216 | 33,493 | (409,656 | ) | 707,917 | (1,753,918 | ) | 154,203 | (10,596,345 | ) | (11,429,236 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(1,625 | ) | (2,383 | ) | (144,733 | ) | (61,829 | ) | - | (82,062 | ) | (1,603,788 | ) | (3,467,899 | ) | |||||||||||||||||
Death benefits (note 4) |
- | - | (156,592 | ) | (46 | ) | - | - | (268,934 | ) | (205,183 | ) | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
(587 | ) | (3,199 | ) | (5,296 | ) | 19,063 | (37,982 | ) | (30,239 | ) | 641,087 | 55,607 | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (199 | ) | - | - | - | (323 | ) | (113 | ) | |||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(3,312 | ) | (1,833 | ) | (47,767 | ) | (44,431 | ) | (43,188 | ) | (42,742 | ) | (828,371 | ) | (949,731 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(432 | ) | (224 | ) | (2,177 | ) | (2,450 | ) | (29 | ) | (46 | ) | (17,701 | ) | (21,058 | ) | ||||||||||||||||
MSP contracts |
- | - | (31 | ) | (31 | ) | - | - | (1,204 | ) | (1,177 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (468 | ) | (366 | ) | - | - | (2,596 | ) | (2,757 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
2 | (1 | ) | 125 | (213 | ) | 286 | (317 | ) | 1,633 | (2,064 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
97,764 | 28,209 | (680,702 | ) | 659,626 | (1,588,995 | ) | 221,704 | (11,256,200 | ) | (14,353,058 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
119,371 | 12,514 | (599,687 | ) | 558,396 | (1,412,845 | ) | 189,153 | (10,749,980 | ) | (14,225,022 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
49,651 | 37,137 | 1,934,119 | 1,375,723 | 2,725,551 | 2,536,398 | 50,361,877 | 64,586,899 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 169,022 | 49,651 | 1,334,432 | 1,934,119 | 1,312,706 | 2,725,551 | 39,611,897 | 50,361,877 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
8,994 | 4,998 | 160,948 | 106,364 | 183,456 | 167,933 | 3,359,878 | 4,315,631 | ||||||||||||||||||||||||
Units purchased |
18,747 | 5,140 | 26,430 | 63,998 | 58,738 | 26,689 | 240,679 | 166,239 | ||||||||||||||||||||||||
Units redeemed |
(1,153 | ) | (1,144 | ) | (78,719 | ) | (9,414 | ) | (154,417 | ) | (11,166 | ) | (988,442 | ) | (1,121,992 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
26,588 | 8,994 | 108,659 | 160,948 | 87,777 | 183,456 | 2,612,115 | 3,359,878 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PMVRRA | PMVTRA | PIVEMI | PIHYB1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,340,144 | 2,719,251 | 1,651,841 | 4,669,738 | 3,064 | 28,173 | 203,136 | 230,829 | |||||||||||||||||||||||
Realized gain (loss) on investments |
(4,855,695 | ) | (3,429,599 | ) | (1,243,164 | ) | (2,325,675 | ) | (171,037 | ) | (143,169 | ) | (149,268 | ) | (333,262 | ) | ||||||||||||||||
Change in unrealized gain (loss) on investments |
7,131,930 | (1,159,640 | ) | 1,722,319 | (1,948,588 | ) | 195,028 | (86,496 | ) | 521,670 | (250,895 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | - | 956,880 | - | 96,814 | - | 176,411 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
3,616,379 | (1,869,988 | ) | 2,130,996 | 1,352,355 | 27,055 | (104,678 | ) | 575,538 | (176,917 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
2,357,518 | 3,700,983 | 5,917,355 | 4,703,784 | 3,873 | 15,359 | 318,900 | 41,701 | ||||||||||||||||||||||||
Transfers between funds |
(15,785,409 | ) | (23,406,868 | ) | (4,803,039 | ) | (79,070,397 | ) | (296,016 | ) | (5,755 | ) | 105,069 | (1,227,629 | ) | |||||||||||||||||
Surrenders (note 6) |
(2,009,833 | ) | (4,792,443 | ) | (11,312,075 | ) | (6,694,905 | ) | (69 | ) | (35,171 | ) | (100,993 | ) | (77,607 | ) | ||||||||||||||||
Death benefits (note 4) |
(765,747 | ) | (123,889 | ) | (440,284 | ) | (729,212 | ) | - | 15 | (38,364 | ) | (8,318 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
(22,077 | ) | 277,260 | 3,561,909 | (615,632 | ) | (5,616 | ) | (22,517 | ) | 15,912 | 8,118 | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(847,680 | ) | (942,273 | ) | (1,664,351 | ) | (1,861,424 | ) | (9,310 | ) | (10,060 | ) | (84,693 | ) | (87,577 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(9,056 | ) | (8,046 | ) | (39,666 | ) | (37,354 | ) | (874 | ) | (939 | ) | (937 | ) | (854 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
(3,816 | ) | (314 | ) | 8,618 | (6,293 | ) | 3 | 2 | 679 | (297 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(17,086,100 | ) | (25,295,590 | ) | (8,771,533 | ) | (84,311,433 | ) | (308,009 | ) | (59,066 | ) | 215,573 | (1,352,463 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(13,469,721 | ) | (27,165,578 | ) | (6,640,537 | ) | (82,959,078 | ) | (280,954 | ) | (163,744 | ) | 791,111 | (1,529,380 | ) | |||||||||||||||||
Contract owners equity beginning of period |
68,846,366 | 96,011,944 | 85,963,454 | 168,922,532 | 660,266 | 824,010 | 3,941,198 | 5,470,578 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 55,376,645 | 68,846,366 | 79,322,917 | 85,963,454 | 379,312 | 660,266 | 4,732,309 | 3,941,198 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
3,850,039 | 5,207,734 | 4,440,358 | 8,771,801 | 120,357 | 127,281 | 154,355 | 204,952 | ||||||||||||||||||||||||
Units purchased |
280,354 | 252,011 | 734,217 | 446,018 | 761 | 17,101 | 19,141 | 7,192 | ||||||||||||||||||||||||
Units redeemed |
(1,182,443 | ) | (1,609,706 | ) | (1,182,590 | ) | (4,777,461 | ) | (55,814 | ) | (24,025 | ) | (11,030 | ) | (57,789 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,947,950 | 3,850,039 | 3,991,985 | 4,440,358 | 65,304 | 120,357 | 162,466 | 154,355 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PVGIB | PVGOB | PVTIGB | PVTSCB | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 15,566 | 18,519 | - | - | 29,513 | 13,129 | 8,647 | 4,792 | |||||||||||||||||||||||
Realized gain (loss) on investments |
35,956 | 64,016 | 32 | - | 42,576 | 58,197 | (62,163 | ) | (70,712 | ) | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
44,131 | (163,319 | ) | 8,380 | - | (99,753 | ) | (73,704 | ) | 200,135 | (62,090 | ) | ||||||||||||||||||||
Reinvested capital gains |
27,489 | - | - | - | - | - | 91,160 | 88,346 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
123,142 | (80,784 | ) | 8,412 | - | (27,664 | ) | (2,378 | ) | 237,779 | (39,664 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
37,272 | 50,543 | 5,431 | - | 26,918 | 44,115 | 77,369 | 2,393 | ||||||||||||||||||||||||
Transfers between funds |
(82,316 | ) | 19,698 | 1,149,494 | - | (15,602 | ) | 25,862 | (117,147 | ) | 160,158 | |||||||||||||||||||||
Surrenders (note 6) |
(22,332 | ) | (253,781 | ) | - | - | (90,158 | ) | (161,183 | ) | (2,148 | ) | (1,697 | ) | ||||||||||||||||||
Death benefits (note 4) |
- | - | - | - | (3,737 | ) | (16,671 | ) | - | (11 | ) | |||||||||||||||||||||
Net policy repayments (loans) (note 5) |
7,717 | 173,980 | 6,736 | - | 7,113 | 20,191 | (466 | ) | (403 | ) | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(588 | ) | - | - | - | (15 | ) | (42 | ) | - | - | |||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(45,215 | ) | (48,644 | ) | (5,582 | ) | - | (35,105 | ) | (46,287 | ) | (28,814 | ) | (25,006 | ) | |||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,190 | ) | (3,853 | ) | (410 | ) | - | (2,293 | ) | (3,074 | ) | (155 | ) | (126 | ) | |||||||||||||||||
MSP contracts |
(45 | ) | (47 | ) | (60 | ) | - | (17 | ) | (15 | ) | - | - | |||||||||||||||||||
SL contracts or LSFP contracts |
(512 | ) | (552 | ) | (48 | ) | - | (356 | ) | (429 | ) | - | - | |||||||||||||||||||
Adjustments to maintain reserves |
(7 | ) | (15 | ) | 1 | - | (11 | ) | (3 | ) | 5 | (6 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(109,216 | ) | (62,671 | ) | 1,155,562 | - | (113,263 | ) | (137,536 | ) | (71,356 | ) | 135,302 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
13,926 | (143,455 | ) | 1,163,974 | - | (140,927 | ) | (139,914 | ) | 166,423 | 95,638 | |||||||||||||||||||||
Contract owners equity beginning of period |
939,191 | 1,082,646 | - | - | 971,980 | 1,111,894 | 832,325 | 736,687 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 953,117 | 939,191 | 1,163,974 | - | 831,053 | 971,980 | 998,748 | 832,325 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
41,318 | 44,044 | - | - | 45,227 | 51,810 | 61,145 | 51,730 | ||||||||||||||||||||||||
Units purchased |
1,769 | 3,811 | 115,922 | - | 2,614 | 2,826 | 5,797 | 11,210 | ||||||||||||||||||||||||
Units redeemed |
(6,631 | ) | (6,537 | ) | (1,181 | ) | - | (8,199 | ) | (9,409 | ) | (9,243 | ) | (1,795 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
36,456 | 41,318 | 114,741 | - | 39,642 | 45,227 | 57,699 | 61,145 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PVTVB | ACGI | ACEG | AVBVI | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 14,274 | 17,063 | 45,633 | 136,142 | - | - | (3 | ) | 10,552 | ||||||||||||||||||||||
Realized gain (loss) on investments |
(53,253 | ) | 58,525 | (235,204 | ) | 150,165 | 83,193 | 50,542 | (167 | ) | 66,450 | |||||||||||||||||||||
Change in unrealized gain (loss) on investments |
5,900 | (393,229 | ) | 694,361 | (1,239,878 | ) | (172,967 | ) | (5,413 | ) | (93 | ) | (132,970 | ) | ||||||||||||||||||
Reinvested capital gains |
50,757 | 233,250 | 476,281 | 772,632 | 102,736 | 5,791 | 174 | 31,138 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
17,678 | (84,391 | ) | 981,071 | (180,939 | ) | 12,962 | 50,920 | (89 | ) | (24,830 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
47,909 | 68,766 | (13,815 | ) | 18,169 | 56,839 | 57,670 | 205 | 14,364 | |||||||||||||||||||||||
Transfers between funds |
(1,317,801 | ) | (100,953 | ) | 240,197 | 77,690 | (144,095 | ) | 208,169 | (8,677 | ) | (519,757 | ) | |||||||||||||||||||
Surrenders (note 6) |
(53,959 | ) | (87,793 | ) | (17,329 | ) | (409,181 | ) | (96,191 | ) | (55,420 | ) | - | (118,060 | ) | |||||||||||||||||
Death benefits (note 4) |
(1,951 | ) | (4,018 | ) | - | (22 | ) | (7,138 | ) | - | - | - | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
6,921 | 17,635 | (898 | ) | (655 | ) | 19,350 | 10,079 | - | 118,060 | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | (113 | ) | - | - | (59 | ) | (159 | ) | - | - | |||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(42,947 | ) | (52,536 | ) | (72,520 | ) | (69,578 | ) | (52,555 | ) | (52,674 | ) | (483 | ) | (4,563 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(3,389 | ) | (4,842 | ) | (36 | ) | (39 | ) | (4,377 | ) | (4,377 | ) | - | - | ||||||||||||||||||
MSP contracts |
(448 | ) | (604 | ) | - | - | (207 | ) | (248 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(576 | ) | (752 | ) | - | - | (178 | ) | (168 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
- | (5 | ) | 18 | 17 | 4 | - | (7 | ) | 25 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,366,241 | ) | (165,215 | ) | 135,617 | (383,599 | ) | (228,607 | ) | 162,872 | (8,962 | ) | (509,931 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(1,348,563 | ) | (249,606 | ) | 1,116,688 | (564,538 | ) | (215,645 | ) | 213,792 | (9,051 | ) | (534,761 | ) | ||||||||||||||||||
Contract owners equity beginning of period |
1,348,563 | 1,598,169 | 4,730,237 | 5,294,775 | 1,322,616 | 1,108,824 | 9,527 | 544,288 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | - | 1,348,563 | 5,846,925 | 4,730,237 | 1,106,971 | 1,322,616 | 476 | 9,527 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
53,180 | 59,171 | 288,247 | 312,024 | 85,010 | 74,837 | 496 | 24,969 | ||||||||||||||||||||||||
Units purchased |
2,396 | 3,061 | 16,366 | 1,575 | 4,338 | 18,178 | 12 | 763 | ||||||||||||||||||||||||
Units redeemed |
(55,576 | ) | (9,052 | ) | (6,237 | ) | (25,352 | ) | (19,776 | ) | (8,005 | ) | (487 | ) | (25,236 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
- | 53,180 | 298,376 | 288,247 | 69,572 | 85,010 | 21 | 496 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVHY1 | AVIE | AVMCCI | AVSCE | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 563,575 | 757,679 | 547,970 | 578,894 | (199 | ) | 708 | (557 | ) | (253 | ) | ||||||||||||||||||||
Realized gain (loss) on investments |
(262,311 | ) | (60,012 | ) | 1,612,198 | 3,810,415 | (51,522 | ) | (14,751 | ) | (42,933 | ) | (21,332 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
1,149,530 | (1,152,971 | ) | (2,520,375 | ) | (5,901,229 | ) | 60,083 | (38,348 | ) | 53,568 | (43,040 | ) | |||||||||||||||||||
Reinvested capital gains |
- | - | - | - | 27,727 | 39,216 | 17,325 | 42,403 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,450,794 | (455,304 | ) | (360,207 | ) | (1,511,920 | ) | 36,089 | (13,175 | ) | 27,403 | (22,222 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
334,329 | 280,857 | 1,690,071 | 2,025,128 | 23,618 | 31,930 | - | - | ||||||||||||||||||||||||
Transfers between funds |
(440,421 | ) | (581,516 | ) | (389,178 | ) | (4,796,861 | ) | (99,664 | ) | 20,812 | 33,342 | 225,243 | |||||||||||||||||||
Surrenders (note 6) |
(640,052 | ) | (703,125 | ) | (4,220,400 | ) | (6,568,474 | ) | (4,656 | ) | (56,141 | ) | - | - | ||||||||||||||||||
Death benefits (note 4) |
(48,057 | ) | (131,905 | ) | (103,221 | ) | (149,568 | ) | - | (4,680 | ) | - | (4 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
563 | 47,335 | (71,559 | ) | 46,727 | (501 | ) | (4,520 | ) | (52 | ) | (1,995 | ) | |||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(139,884 | ) | (151,325 | ) | (581,953 | ) | (615,625 | ) | (11,651 | ) | (13,542 | ) | (1,677 | ) | (630 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(364 | ) | (482 | ) | (2,725 | ) | (3,105 | ) | (455 | ) | (412 | ) | - | - | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
155 | (132 | ) | 168 | (58 | ) | 6 | (7 | ) | 5 | (2 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(933,731 | ) | (1,240,293 | ) | (3,678,797 | ) | (10,061,836 | ) | (93,303 | ) | (26,560 | ) | 31,618 | 222,612 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
517,063 | (1,695,597 | ) | (4,039,004 | ) | (11,573,756 | ) | (57,214 | ) | (39,735 | ) | 59,021 | 200,390 | |||||||||||||||||||
Contract owners equity beginning of period |
13,801,155 | 15,496,752 | 47,081,685 | 58,655,441 | 402,728 | 442,463 | 200,390 | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 14,318,218 | 13,801,155 | 43,042,681 | 47,081,685 | 345,514 | 402,728 | 259,411 | 200,390 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,054,103 | 1,143,753 | 2,038,231 | 2,475,931 | 21,154 | 22,264 | 19,997 | - | ||||||||||||||||||||||||
Units purchased |
31,617 | 36,625 | 262,658 | 278,070 | 2,034 | 4,587 | 3,329 | 20,260 | ||||||||||||||||||||||||
Units redeemed |
(100,332 | ) | (126,275 | ) | (424,991 | ) | (715,770 | ) | (7,204 | ) | (5,697 | ) | (169 | ) | (263 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
985,388 | 1,054,103 | 1,875,898 | 2,038,231 | 15,984 | 21,154 | 23,157 | 19,997 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROCMC | RVARS | TREI2 | TRHS2 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 34,150 | (18,834 | ) | 536 | 5,292 | 523,471 | 869,104 | (28,140 | ) | (38,827 | ) | ||||||||||||||||||||
Realized gain (loss) on investments |
(740,554 | ) | (124,506 | ) | 9,750 | 28,794 | 3,502,292 | 6,969,013 | 2,792,366 | 4,087,794 | ||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
1,903,622 | (1,541,321 | ) | (12,149 | ) | (21,158 | ) | (2,126,377 | ) | (14,033,326 | ) | (6,483,689 | ) | (2,725,705 | ) | |||||||||||||||||
Reinvested capital gains |
- | 446,667 | - | - | 2,612,541 | 1,216,426 | 171,039 | 2,580,507 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,197,218 | (1,237,994 | ) | (1,863 | ) | 12,928 | 4,511,927 | (4,978,783 | ) | (3,548,424 | ) | 3,903,769 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
248,190 | 447,745 | 17,699 | 5,601 | 1,650,397 | 1,563,365 | 624,525 | 615,647 | ||||||||||||||||||||||||
Transfers between funds |
(1,658,524 | ) | (2,504,334 | ) | 264,350 | (416,266 | ) | (28,293,862 | ) | (14,809,993 | ) | (7,371,673 | ) | 1,165,213 | ||||||||||||||||||
Surrenders (note 6) |
(289,121 | ) | (854,055 | ) | (53,022 | ) | (20,753 | ) | (1,610,076 | ) | (3,158,696 | ) | (1,150,540 | ) | (1,259,110 | ) | ||||||||||||||||
Death benefits (note 4) |
(17,715 | ) | (66,320 | ) | - | - | (111,687 | ) | (270,039 | ) | (104,381 | ) | (143,796 | ) | ||||||||||||||||||
Net policy repayments (loans) (note 5) |
578 | 9,147 | (3,319 | ) | 3,359 | 639,689 | (26,872 | ) | (30,272 | ) | (226,256 | ) | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | (921 | ) | (411 | ) | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(122,527 | ) | (154,484 | ) | (33,952 | ) | (29,630 | ) | (440,840 | ) | (823,267 | ) | (704,093 | ) | (773,385 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(1,280 | ) | (1,438 | ) | (1,472 | ) | (2,846 | ) | (2,844 | ) | (3,659 | ) | (32,834 | ) | (42,291 | ) | ||||||||||||||||
MSP contracts |
- | - | - | - | - | - | (1,791 | ) | (1,962 | ) | ||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | (7,401 | ) | (9,715 | ) | ||||||||||||||||||||||
Adjustments to maintain reserves |
29 | 25 | (4 | ) | (4 | ) | 240 | (32 | ) | 74 | 37 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,840,370 | ) | (3,123,714 | ) | 190,280 | (460,539 | ) | (28,168,983 | ) | (17,529,193 | ) | (8,779,307 | ) | (676,029 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(643,152 | ) | (4,361,708 | ) | 188,417 | (447,611 | ) | (23,657,056 | ) | (22,507,976 | ) | (12,327,731 | ) | 3,227,740 | ||||||||||||||||||
Contract owners equity beginning of period |
6,917,448 | 11,279,156 | 342,230 | 789,841 | 51,431,936 | 73,939,912 | 34,363,964 | 31,136,224 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 6,274,296 | 6,917,448 | 530,647 | 342,230 | 27,774,880 | 51,431,936 | 22,036,233 | 34,363,964 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
261,835 | 372,394 | 32,120 | 75,501 | 2,107,227 | 2,807,870 | 999,696 | 1,018,380 | ||||||||||||||||||||||||
Units purchased |
23,874 | 16,575 | 35,260 | 3,117 | 95,241 | 67,441 | 27,573 | 82,203 | ||||||||||||||||||||||||
Units redeemed |
(86,628 | ) | (127,134 | ) | (17,334 | ) | (46,498 | ) | (1,243,027 | ) | (768,084 | ) | (308,244 | ) | (100,887 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
199,081 | 261,835 | 50,046 | 32,120 | 959,441 | 2,107,227 | 719,025 | 999,696 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TRLT1 | TRMCG2 | TRNAG1 | TRPSB1 | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 235,090 | 202,315 | (53,393 | ) | (58,571 | ) | (64,057 | ) | (82,814 | ) | 54,657 | 54,248 | |||||||||||||||||||
Realized gain (loss) on investments |
(77,599 | ) | (101,809 | ) | (295,514 | ) | 5,240,635 | (2,084,600 | ) | 2,310,271 | (188,191 | ) | (125,093 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
114,377 | (96,311 | ) | 49,969 | (6,026,438 | ) | 631,470 | (2,590,922 | ) | 279,097 | (216,742 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | 1,493,887 | 2,808,783 | 1,734,518 | 4,090,222 | 91,725 | 266,599 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
271,868 | 4,195 | 1,194,949 | 1,964,409 | 217,331 | 3,726,757 | 237,288 | (20,988 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
279,362 | 304,872 | 31,967 | (28,237 | ) | 2,815,837 | 2,396,113 | 374,173 | 138,534 | |||||||||||||||||||||||
Transfers between funds |
(4,913,962 | ) | 11,909,945 | 409,211 | (11,583,147 | ) | (6,513,369 | ) | (2,388,278 | ) | 19,824 | 708,184 | ||||||||||||||||||||
Surrenders (note 6) |
(3,711,993 | ) | (4,881,861 | ) | (72,582 | ) | (3,242,433 | ) | (2,667,924 | ) | (3,871,779 | ) | (344,557 | ) | (1,140,617 | ) | ||||||||||||||||
Death benefits (note 4) |
(16,811 | ) | (146,667 | ) | (20,402 | ) | (405,560 | ) | (349,349 | ) | (48,880 | ) | - | (3,117 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(229,178 | ) | 2,071 | 675,819 | (21,086 | ) | 383,960 | (476,989 | ) | 51,619 | (40,644 | ) | ||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(275,496 | ) | (300,711 | ) | (198,434 | ) | (224,267 | ) | (590,852 | ) | (619,854 | ) | (61,447 | ) | (49,041 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(534 | ) | (613 | ) | - | - | (7,246 | ) | (9,692 | ) | (363 | ) | (1,048 | ) | ||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
1,287 | (1,842 | ) | 218 | (67 | ) | 216 | 18 | 58 | (8 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(8,867,325 | ) | 6,885,194 | 825,797 | (15,504,797 | ) | (6,928,727 | ) | (5,019,341 | ) | 39,307 | (387,757 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(8,595,457 | ) | 6,889,389 | 2,020,746 | (13,540,388 | ) | (6,711,396 | ) | (1,292,584 | ) | 276,595 | (408,745 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
24,014,768 | 17,125,379 | 20,838,600 | 34,378,988 | 41,821,955 | 43,114,539 | 3,704,524 | 4,113,269 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 15,419,311 | 24,014,768 | 22,859,346 | 20,838,600 | 35,110,559 | 41,821,955 | 3,981,119 | 3,704,524 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,318,939 | 1,654,482 | 442,133 | 770,625 | 1,528,987 | 1,705,856 | 231,861 | 255,954 | ||||||||||||||||||||||||
Units purchased |
62,380 | 1,242,581 | 36,748 | 5,669 | 211,304 | 235,566 | 32,030 | 51,965 | ||||||||||||||||||||||||
Units redeemed |
(909,160 | ) | (578,124 | ) | (20,329 | ) | (334,161 | ) | (469,777 | ) | (412,435 | ) | (29,573 | ) | (76,058 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,472,159 | 2,318,939 | 458,552 | 442,133 | 1,270,514 | 1,528,987 | 234,318 | 231,861 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TRBCGP | VWEM | VWHA | VVB | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | (82,494 | ) | (62,903 | ) | 30,500 | 62,574 | 64,794 | (36,549 | ) | 179,797 | 182,292 | ||||||||||||||||||||
Realized gain (loss) on investments |
1,509,207 | 1,409,080 | (120,107 | ) | (579,295 | ) | (3,880,140 | ) | (2,353,188 | ) | 59,478 | 253,999 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(881,856 | ) | 1,993,768 | 58,637 | (1,865,592 | ) | 14,108,839 | (7,885,482 | ) | 267,508 | (881,341 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | 39,636 | 718,177 | - | - | 344,830 | 394,520 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
544,857 | 3,339,945 | 8,666 | (1,664,136 | ) | 10,293,493 | (10,275,219 | ) | 851,613 | (50,530 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
4,843,919 | 4,853,313 | 265,248 | 274,879 | 1,358,320 | 1,618,946 | 957 | 109 | ||||||||||||||||||||||||
Transfers between funds |
3,545,674 | 7,689,575 | 64,526 | (3,671,528 | ) | (202,933 | ) | 2,753,237 | 885,363 | 1,218,023 | ||||||||||||||||||||||
Surrenders (note 6) |
(2,352,011 | ) | (1,002,682 | ) | (222,034 | ) | (553,918 | ) | (1,280,453 | ) | (1,799,591 | ) | (150,391 | ) | (306,301 | ) | ||||||||||||||||
Death benefits (note 4) |
(1,648 | ) | (77,499 | ) | (34,629 | ) | (36,336 | ) | (97,481 | ) | (107,971 | ) | (40,315 | ) | (48,965 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
(134,038 | ) | (75,625 | ) | 43,666 | 109,060 | (50,294 | ) | 22,638 | - | - | |||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | (61 | ) | - | - | - | - | - | |||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(690,535 | ) | (512,766 | ) | (303,572 | ) | (352,633 | ) | (627,769 | ) | (543,234 | ) | (67,994 | ) | (65,442 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(15,983 | ) | (13,972 | ) | (15,869 | ) | (20,592 | ) | (19,014 | ) | (18,846 | ) | - | - | ||||||||||||||||||
MSP contracts |
- | - | (337 | ) | (418 | ) | (150 | ) | (227 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | (2,041 | ) | (2,552 | ) | (1,071 | ) | (1,260 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
252 | (3 | ) | (24 | ) | 211 | 312 | (150 | ) | 63 | (18 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
5,195,630 | 10,860,341 | (205,127 | ) | (4,253,827 | ) | (920,533 | ) | 1,923,542 | 627,683 | 797,406 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
5,740,487 | 14,200,286 | (196,461 | ) | (5,917,963 | ) | 9,372,960 | (8,351,677 | ) | 1,479,296 | 746,876 | |||||||||||||||||||||
Contract owners equity beginning of period |
41,876,661 | 27,676,375 | 8,091,073 | 14,009,036 | 22,688,388 | 31,040,065 | 7,865,315 | 7,118,439 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 47,617,148 | 41,876,661 | 7,894,612 | 8,091,073 | 32,061,348 | 22,688,388 | 9,344,611 | 7,865,315 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
2,425,545 | 1,776,681 | 238,851 | 336,325 | 891,836 | 809,893 | 489,833 | 442,815 | ||||||||||||||||||||||||
Units purchased |
750,563 | 751,993 | 18,388 | 12,483 | 127,262 | 160,614 | 50,650 | 73,112 | ||||||||||||||||||||||||
Units redeemed |
(434,945 | ) | (103,129 | ) | (24,863 | ) | (109,957 | ) | (128,797 | ) | (78,671 | ) | (15,168 | ) | (26,094 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
2,741,163 | 2,425,545 | 232,376 | 238,851 | 890,301 | 891,836 | 525,315 | 489,833 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VVCG | VVDV | VVI | VVMCI | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 97,224 | (13,263 | ) | 338,089 | 350,675 | 104,996 | 55,479 | 308,108 | 143,902 | ||||||||||||||||||||||
Realized gain (loss) on investments |
(21,164 | ) | 43 | 379,235 | 708,830 | 27,395 | 193,527 | 812,689 | 814,562 | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
729,348 | 105,878 | 77,004 | (2,447,870 | ) | (205,005 | ) | (836,825 | ) | (261,900 | ) | (2,777,348 | ) | |||||||||||||||||||
Reinvested capital gains |
259,870 | - | 747,681 | 986,258 | 142,329 | 60,454 | 1,800,809 | 885,839 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
1,065,278 | 92,658 | 1,542,009 | (402,107 | ) | 69,715 | (527,365 | ) | 2,659,706 | (933,045 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
741 | (266 | ) | 1,671 | 603 | 1,770 | (80 | ) | 4,959 | (663 | ) | |||||||||||||||||||||
Transfers between funds |
961,080 | 10,448,462 | (1,360,393 | ) | (1,241,874 | ) | (1,100,018 | ) | 6,049,610 | (1,710,909 | ) | 12,889,324 | ||||||||||||||||||||
Surrenders (note 6) |
(186,428 | ) | (378,301 | ) | (222,347 | ) | (540,700 | ) | (135,878 | ) | (366,600 | ) | (453,591 | ) | (1,050,399 | ) | ||||||||||||||||
Death benefits (note 4) |
(37,129 | ) | (24,947 | ) | (75,548 | ) | (96,368 | ) | (38,051 | ) | (52,379 | ) | (126,229 | ) | (156,645 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(83,568 | ) | (45,613 | ) | (108,326 | ) | (119,324 | ) | (68,608 | ) | (69,707 | ) | (213,852 | ) | (206,954 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
65 | (2 | ) | 89 | 5 | 60 | (11 | ) | 169 | 7 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
654,761 | 9,999,333 | (1,764,854 | ) | (1,997,658 | ) | (1,340,725 | ) | 5,560,833 | (2,499,453 | ) | 11,474,670 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,720,039 | 10,091,991 | (222,845 | ) | (2,399,765 | ) | (1,271,010 | ) | 5,033,468 | 160,253 | 10,541,625 | |||||||||||||||||||||
Contract owners equity beginning of period |
10,091,991 | - | 14,000,476 | 16,400,241 | 9,330,551 | 4,297,083 | 26,993,273 | 16,451,648 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 11,812,030 | 10,091,991 | 13,777,631 | 14,000,476 | 8,059,541 | 9,330,551 | 27,153,526 | 26,993,273 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,016,660 | - | 942,963 | 1,075,270 | 867,678 | 395,718 | 1,540,845 | 923,730 | ||||||||||||||||||||||||
Units purchased |
88,265 | 1,062,717 | - | - | 1 | 516,149 | - | 696,051 | ||||||||||||||||||||||||
Units redeemed |
(29,178 | ) | (46,057 | ) | (119,808 | ) | (132,307 | ) | (130,477 | ) | (44,189 | ) | (143,002 | ) | (78,936 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
1,075,747 | 1,016,660 | 823,155 | 942,963 | 737,202 | 867,678 | 1,397,843 | 1,540,845 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VVREI | VVSTC | VVSCG | VVHGB | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 211,253 | 152,700 | 89,911 | 76,654 | 5,269 | 7,131 | 441,697 | 336,636 | |||||||||||||||||||||||
Realized gain (loss) on investments |
164,883 | 233,365 | (7,534 | ) | (37,140 | ) | (75,569 | ) | (22,409 | ) | (33,629 | ) | (157,341 | ) | ||||||||||||||||||
Change in unrealized gain (loss) on investments |
(336,706 | ) | (600,317 | ) | 54,939 | 5,979 | 290,804 | (660,162 | ) | (5,787 | ) | (341,604 | ) | |||||||||||||||||||
Reinvested capital gains |
611,456 | 325,445 | - | 886 | 347,644 | 513,177 | 58,226 | 71,030 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
650,886 | 111,193 | 137,316 | 46,379 | 568,148 | (162,263 | ) | 460,507 | (91,279 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
2,312 | (794 | ) | 224 | 51 | 728 | 25 | 1,432 | (248 | ) | ||||||||||||||||||||||
Transfers between funds |
352,919 | (833,552 | ) | 519,703 | 684,863 | 78,511 | 249,914 | 2,604,603 | 5,728,339 | |||||||||||||||||||||||
Surrenders (note 6) |
(153,766 | ) | (323,800 | ) | (92,583 | ) | (204,599 | ) | (77,195 | ) | (154,700 | ) | (379,111 | ) | (783,900 | ) | ||||||||||||||||
Death benefits (note 4) |
(51,011 | ) | (56,771 | ) | (28,046 | ) | (30,217 | ) | (21,407 | ) | (28,202 | ) | (98,561 | ) | (123,036 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(75,745 | ) | (74,293 | ) | (45,982 | ) | (40,935 | ) | (33,173 | ) | (34,770 | ) | (185,908 | ) | (162,995 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
75 | 9 | 20 | 8 | 13 | (3 | ) | 138 | (23 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
74,784 | (1,289,201 | ) | 353,336 | 409,171 | (52,523 | ) | 32,264 | 1,942,593 | 4,658,137 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
725,670 | (1,178,008 | ) | 490,652 | 455,550 | 515,625 | (129,999 | ) | 2,403,100 | 4,566,858 | ||||||||||||||||||||||
Contract owners equity beginning of period |
8,495,138 | 9,673,146 | 5,513,186 | 5,057,636 | 4,021,049 | 4,151,048 | 20,534,955 | 15,968,097 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 9,220,808 | 8,495,138 | 6,003,838 | 5,513,186 | 4,536,674 | 4,021,049 | 22,938,055 | 20,534,955 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
477,496 | 554,659 | 439,398 | 406,789 | 240,856 | 241,303 | 1,792,381 | 1,395,545 | ||||||||||||||||||||||||
Units purchased |
16,989 | - | 40,382 | 54,537 | 3,324 | 12,181 | 221,746 | 489,881 | ||||||||||||||||||||||||
Units redeemed |
(15,179 | ) | (77,163 | ) | (12,964 | ) | (21,928 | ) | (7,264 | ) | (12,628 | ) | (56,237 | ) | (93,045 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
479,306 | 477,496 | 466,816 | 439,398 | 236,916 | 240,856 | 1,957,890 | 1,792,381 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WRASP | WRGP | WRHIP | WRMCG | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 54,386 | 40,279 | (15,006 | ) | (3,420 | ) | 2,711,630 | 2,501,877 | (10,906 | ) | (13,780 | ) | |||||||||||||||||||
Realized gain (loss) on investments |
(2,956,905 | ) | 62,495 | (698,650 | ) | (2,557 | ) | (1,537,892 | ) | (832,503 | ) | (535,333 | ) | (5,105 | ) | |||||||||||||||||
Change in unrealized gain (loss) on investments |
2,491,470 | (3,819,448 | ) | (1,125,365 | ) | (510,609 | ) | 4,306,807 | (4,694,091 | ) | 500,716 | (928,712 | ) | |||||||||||||||||||
Reinvested capital gains |
- | 2,345,337 | 1,888,577 | 525,750 | - | 435,234 | 333,815 | 490,678 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
(411,049 | ) | (1,371,337 | ) | 49,556 | 9,164 | 5,480,545 | (2,589,483 | ) | 288,292 | (456,919 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
595,814 | 709,755 | 411,664 | 491,738 | 780,145 | 981,737 | 297,479 | 481,958 | ||||||||||||||||||||||||
Transfers between funds |
(5,478,611 | ) | 1,622,490 | (2,863,914 | ) | 15,897,294 | (2,733,156 | ) | (4,750,807 | ) | (2,796,342 | ) | 1,942,205 | |||||||||||||||||||
Surrenders (note 6) |
(771,983 | ) | (689,917 | ) | (103,116 | ) | (604,826 | ) | (852,584 | ) | (699,809 | ) | (47,440 | ) | (71,446 | ) | ||||||||||||||||
Death benefits (note 4) |
(165,993 | ) | (233,338 | ) | (12,999 | ) | (18 | ) | (108,110 | ) | (2,759 | ) | (54,535 | ) | (13,285 | ) | ||||||||||||||||
Net policy repayments (loans) (note 5) |
(4,287 | ) | (14,864 | ) | (20,435 | ) | (9,388 | ) | (63,141 | ) | (105,199 | ) | 3,578 | 6,652 | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
(2,387 | ) | (381 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(470,553 | ) | (500,986 | ) | (195,300 | ) | (88,455 | ) | (444,562 | ) | (449,772 | ) | (105,642 | ) | (132,913 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(24,349 | ) | (33,884 | ) | (1,272 | ) | (1,863 | ) | (5,672 | ) | (6,898 | ) | (1,724 | ) | (2,264 | ) | ||||||||||||||||
MSP contracts |
(518 | ) | (624 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
SL contracts or LSFP contracts |
(3,027 | ) | (3,851 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Adjustments to maintain reserves |
8 | (3 | ) | 55 | 17 | 168 | (3 | ) | 20 | 8 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(6,325,886 | ) | 854,397 | (2,785,317 | ) | 15,684,499 | (3,426,912 | ) | (5,033,510 | ) | (2,704,606 | ) | 2,210,915 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(6,736,935 | ) | (516,940 | ) | (2,735,761 | ) | 15,693,663 | 2,053,633 | (7,622,993 | ) | (2,416,314 | ) | 1,753,996 | |||||||||||||||||||
Contract owners equity beginning of period |
14,359,260 | 14,876,200 | 19,112,081 | 3,418,418 | 36,199,055 | 43,822,048 | 6,616,270 | 4,862,274 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 7,622,325 | 14,359,260 | 16,376,320 | 19,112,081 | 38,252,688 | 36,199,055 | 4,199,956 | 6,616,270 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
1,052,576 | 996,762 | 726,824 | 139,568 | 3,168,839 | 3,581,446 | 497,206 | 343,498 | ||||||||||||||||||||||||
Units purchased |
67,318 | 248,020 | 23,093 | 633,251 | 182,183 | 144,542 | 35,402 | 188,243 | ||||||||||||||||||||||||
Units redeemed |
(547,211 | ) | (192,206 | ) | (134,156 | ) | (45,995 | ) | (465,940 | ) | (557,149 | ) | (234,634 | ) | (34,535 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
572,683 | 1,052,576 | 615,761 | 726,824 | 2,885,082 | 3,168,839 | 297,974 | 497,206 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WRRESP | WRSTP | SVDF | SVOF | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 75,410 | 83,227 | (18,176 | ) | (23,249 | ) | (13,341 | ) | (19,554 | ) | 100,038 | (8,537 | ) | ||||||||||||||||||
Realized gain (loss) on investments |
(367,986 | ) | 236,892 | (1,162,290 | ) | 645,325 | (321,740 | ) | 929,488 | (23,564 | ) | 1,706,484 | ||||||||||||||||||||
Change in unrealized gain (loss) on investments |
(227,393 | ) | (870,992 | ) | 690,860 | (1,996,424 | ) | 106,434 | (3,499,131 | ) | (6,347 | ) | (2,911,383 | ) | ||||||||||||||||||
Reinvested capital gains |
725,353 | 857,574 | 499,483 | 932,305 | 994,544 | 2,319,407 | 562,582 | 935,022 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
205,384 | 306,701 | 9,877 | (442,043 | ) | 765,897 | (269,790 | ) | 632,709 | (278,414 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
691,070 | 946,173 | 1,392,819 | 1,466,721 | 964,234 | 1,018,582 | 2,383 | 17,401 | ||||||||||||||||||||||||
Transfers between funds |
1,225,472 | (1,771,487 | ) | (1,578,510 | ) | (1,032,658 | ) | (3,345,233 | ) | 957,625 | (21,291 | ) | (3,185,090 | ) | ||||||||||||||||||
Surrenders (note 6) |
(146,059 | ) | (358,538 | ) | (521,995 | ) | (921,060 | ) | (212,022 | ) | (569,089 | ) | - | (191,824 | ) | |||||||||||||||||
Death benefits (note 4) |
(47,521 | ) | (932 | ) | (87,587 | ) | (79,327 | ) | (207,150 | ) | (666 | ) | - | (1,651 | ) | |||||||||||||||||
Net policy repayments (loans) (note 5) |
(11,954 | ) | (16,890 | ) | (499,735 | ) | (595,179 | ) | (45,613 | ) | 55,119 | (1,771 | ) | - | ||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(142,580 | ) | (142,397 | ) | (321,673 | ) | (345,690 | ) | (176,876 | ) | (181,876 | ) | (77,596 | ) | (97,930 | ) | ||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(6,058 | ) | (7,148 | ) | (9,524 | ) | (11,751 | ) | (12,674 | ) | (12,014 | ) | - | (17 | ) | |||||||||||||||||
MSP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
SL contracts or LSFP contracts |
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Adjustments to maintain reserves |
2 | 12 | 70 | (32 | ) | 60 | (8 | ) | 59 | 11 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
1,562,372 | (1,351,207 | ) | (1,626,135 | ) | (1,518,976 | ) | (3,035,274 | ) | 1,267,673 | (98,216 | ) | (3,459,100 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
1,767,756 | (1,044,506 | ) | (1,616,258 | ) | (1,961,019 | ) | (2,269,377 | ) | 997,883 | 534,493 | (3,737,514 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
6,956,811 | 8,001,317 | 15,064,146 | 17,025,165 | 16,264,113 | 15,266,230 | 5,486,988 | 9,224,502 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 8,724,567 | 6,956,811 | 13,447,888 | 15,064,146 | 13,994,736 | 16,264,113 | 6,021,481 | 5,486,988 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
323,475 | 387,600 | 740,554 | 811,657 | 938,219 | 867,277 | 234,040 | 379,694 | ||||||||||||||||||||||||
Units purchased |
85,695 | 119,057 | 86,579 | 73,859 | 72,351 | 140,784 | 2,777 | 7,003 | ||||||||||||||||||||||||
Units redeemed |
(18,710 | ) | (183,182 | ) | (175,172 | ) | (144,962 | ) | (261,637 | ) | (69,842 | ) | (7,395 | ) | (152,657 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
390,460 | 323,475 | 651,961 | 740,554 | 748,933 | 938,219 | 229,422 | 234,040 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WFVSCG | MIGIC | FHISR | MVRISC | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | (7,591 | ) | (9,794 | ) | - | 28,322 | - | 10,244 | - | 73,528 | |||||||||||||||||||||
Realized gain (loss) on investments |
(654,920 | ) | 379,829 | - | 738,759 | - | 23,462 | - | 373,021 | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
451,060 | (1,417,695 | ) | - | (1,017,898 | ) | - | 152,161 | - | (248,986 | ) | |||||||||||||||||||||
Reinvested capital gains |
523,918 | 824,663 | - | 297,947 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
312,467 | (222,997 | ) | - | 47,130 | - | 185,867 | - | 197,563 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
213,643 | 404,723 | - | 32,802 | - | 109,650 | - | 217 | ||||||||||||||||||||||||
Transfers between funds |
(1,152,860 | ) | 176,013 | - | (3,469,871 | ) | - | (4,116,118 | ) | - | (3,009,796 | ) | ||||||||||||||||||||
Surrenders (note 6) |
(837,193 | ) | (261,670 | ) | - | (20,633 | ) | - | (104,063 | ) | - | (2,478 | ) | |||||||||||||||||||
Death benefits (note 4) |
(15,416 | ) | (96,684 | ) | - | - | - | (46,591 | ) | - | (5,675 | ) | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
6,859 | (37,501 | ) | - | (23,561 | ) | - | 5,676 | - | (764 | ) | |||||||||||||||||||||
Deductions for surrender charges (note 2d) |
(288 | ) | (49 | ) | - | - | - | - | - | - | ||||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
(109,949 | ) | (131,120 | ) | - | (33,423 | ) | - | (64,465 | ) | - | (11,603 | ) | |||||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
(4,726 | ) | (6,287 | ) | - | (3,487 | ) | - | (4,517 | ) | - | (50 | ) | |||||||||||||||||||
MSP contracts |
(25 | ) | (29 | ) | - | (19 | ) | - | (144 | ) | - | - | ||||||||||||||||||||
SL contracts or LSFP contracts |
(1,012 | ) | (1,143 | ) | - | (148 | ) | - | (436 | ) | - | - | ||||||||||||||||||||
Adjustments to maintain reserves |
46 | 62 | - | (10 | ) | - | 1 | - | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
(1,900,921 | ) | 46,315 | - | (3,518,350 | ) | - | (4,221,007 | ) | - | (3,030,149 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
(1,588,454 | ) | (176,682 | ) | - | (3,471,220 | ) | - | (4,035,140 | ) | - | (2,832,586 | ) | |||||||||||||||||||
Contract owners equity beginning of period |
6,201,275 | 6,377,957 | - | 3,471,220 | - | 4,035,140 | - | 2,832,586 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | 4,612,821 | 6,201,275 | - | - | - | - | - | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
390,465 | 389,785 | - | 129,370 | - | 262,020 | - | 288,102 | ||||||||||||||||||||||||
Units purchased |
16,134 | 44,930 | - | 1,906 | - | 8,488 | - | 12,816 | ||||||||||||||||||||||||
Units redeemed |
(136,451 | ) | (44,250 | ) | - | (131,276 | ) | - | (270,508 | ) | - | (300,918 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
270,148 | 390,465 | - | - | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOSR | CAF | NVMIG3 | AMFAS | |||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||
Investment activity: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
$ | - | - | 19,571 | 57,511 | - | - | - | (563 | ) | ||||||||||||||||||||||
Realized gain (loss) on investments |
- | 2,938,980 | 3,341,232 | 970,194 | - | - | - | (216,041 | ) | |||||||||||||||||||||||
Change in unrealized gain (loss) on investments |
- | (1,887,078 | ) | (4,805,528 | ) | (2,302,463 | ) | - | - | - | (56,197 | ) | ||||||||||||||||||||
Reinvested capital gains |
- | - | 1,404,949 | 2,060,769 | - | - | - | 260,397 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in contract owners equity resulting from operations |
- | 1,051,902 | (39,776 | ) | 786,011 | - | - | - | (12,404 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Equity transactions: |
||||||||||||||||||||||||||||||||
Purchase payments received from contract owners (notes 2a and 6) |
- | 219,069 | 276,455 | 1,009,699 | - | - | - | 53,035 | ||||||||||||||||||||||||
Transfers between funds |
- | (12,128,561 | ) | (16,138,685 | ) | 107,219 | - | - | - | (1,593,065 | ) | |||||||||||||||||||||
Surrenders (note 6) |
- | (156,651 | ) | (444,878 | ) | (1,178,466 | ) | - | - | - | (71,960 | ) | ||||||||||||||||||||
Death benefits (note 4) |
- | (41,811 | ) | (43,429 | ) | (195,232 | ) | - | - | - | (10,200 | ) | ||||||||||||||||||||
Net policy repayments (loans) (note 5) |
- | (872 | ) | 16,979 | 128,526 | - | - | - | (11,060 | ) | ||||||||||||||||||||||
Deductions for surrender charges (note 2d) |
- | (257 | ) | - | (9 | ) | - | - | - | (77 | ) | |||||||||||||||||||||
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) |
- | (151,836 | ) | (275,533 | ) | (941,753 | ) | - | - | - | (35,943 | ) | ||||||||||||||||||||
Asset charges (note 3): |
||||||||||||||||||||||||||||||||
FPVUL & VEL contracts |
- | (14,102 | ) | (18,488 | ) | (65,942 | ) | - | - | - | (3,123 | ) | ||||||||||||||||||||
MSP contracts |
- | (246 | ) | (505 | ) | (1,854 | ) | - | - | - | (50 | ) | ||||||||||||||||||||
SL contracts or LSFP contracts |
- | (1,303 | ) | (669 | ) | (3,198 | ) | - | - | - | (203 | ) | ||||||||||||||||||||
Adjustments to maintain reserves |
- | 253 | 8,986 | (21 | ) | - | - | - | (13 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net equity transactions |
- | (12,276,317 | ) | (16,619,767 | ) | (1,141,031 | ) | - | - | - | (1,672,659 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net change in contract owners equity |
- | (11,224,415 | ) | (16,659,543 | ) | (355,020 | ) | - | - | - | (1,685,063 | ) | ||||||||||||||||||||
Contract owners equity beginning of period |
- | 11,224,415 | 16,659,543 | 17,014,563 | - | - | - | 1,685,063 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contract owners equity end of period |
$ | - | - | - | 16,659,543 | - | - | - | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
CHANGES IN UNITS: |
||||||||||||||||||||||||||||||||
Beginning units |
- | 677,999 | 1,029,042 | 1,099,344 | - | - | - | 76,374 | ||||||||||||||||||||||||
Units purchased |
- | 15,479 | 43,072 | 85,331 | - | 6 | - | 9,390 | ||||||||||||||||||||||||
Units redeemed |
- | (693,478 | ) | (1,072,114 | ) | (155,633 | ) | - | (6 | ) | - | (85,764 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ending units |
- | - | - | 1,029,042 | - | - | - | - | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
NATIONWIDE VLI SEPARATE ACCOUNT-4
NOTES TO FINANCIAL STATEMENTS
December 31, 2016
(1) Background and Summary of Significant Accounting Policies
(a) Organization and Nature of Operations
The Nationwide VLI Separate Account-4 (the Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life Insurance Company (the Company) on December 3, 1997. The Account is registered as a unit investment trust under the Investment Company Act of 1940. The Account is an Investment Company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946, Financial Services Investment Companies. The Company offers Flexible Premium, Modified Single Premium, Variable Executive Life and Survivorship Life Variable Life Insurance Policies through the Account. The primary distribution for contracts is through wholesalers and brokers.
(b) The Contracts
Only contracts with a front-end sales load and certain other fees have been offered for purchase. See note 2 for a discussion of policy charges and note 3 for asset charges.
With certain exceptions, contract owners may invest in the following:
AB FUNDS
VPS Dynamic Asset Allocation Portfolio - Class A (ALVDAA)
VPS Growth and Income Portfolio - Class A (ALVGIA)
VPS Growth and Income Portfolio - Class B (ALVGIB)*
VPS International Value Portfolio - Class A (ALVIVA)
VPS International Value Portfolio - Class B (ALVIVB)*
VPS Small/Mid Cap Value Portfolio - Class A (ALVSVA)
VPS Small/Mid Cap Value Portfolio - Class B (ALVSVB)*
AMERICAN CENTURY INVESTORS, INC.
VP Inflation Protection Fund - Class I (ACVIP1)
AMERICAN FUNDS GROUP (THE)
Asset Allocation Fund - Class 2 (AMVAA2)
Bond Fund - Class 2 (AMVBD2)
Global Small Capitalization Fund - Class 2 (AMVGS2)
Growth Fund - Class 2 (AMVGR2)
International Fund - Class 2 (AMVI2)
New World Fund - Class 2 (AMVNW2)
BLACKROCK FUNDS
Variable Series Funds, Inc. - BlackRock High Yield V.I. Fund- Class I (BRVHYI)
Large Cap Core V.I. Fund - Class II (MLVLC2)
Global Allocation V.I. Fund - Class II (MLVGA2)
CALVERT GROUP
VP S&P 500 Index Portfolio (CVSPIP)
DAVIS FUNDS
Value Portfolio (DAVVL)
DELAWARE GROUP
VIP Emerging Markets Series: Service Class (DWVEMS)
VIP Small Cap Value Series: Service Class (DWVSVS)
DIMENSIONAL FUND ADVISORS INC.
VA Inflation-Protected Securities Portfolio (DFVIPS)
VA International Small Portfolio (DFVIS)
VA U.S. Targeted Value Portfolio (DFVUTV)
DREYFUS CORPORATION
Stock Index Fund, Inc. - Initial Shares (DSIF)
Stock Index Fund, Inc. - Service Shares (DSIFS)*
MidCap Stock Portfolio - Initial Shares (DVMCS)
Small Cap Stock Index Portfolio - Service Shares (DVSCS)
Socially Responsible Growth Fund Inc - Initial Shares (DSRG)
Appreciation Portfolio - Initial Shares (DCAP)
Appreciation Portfolio - Service Shares (DCAPS)*
Opportunistic Small Cap Portfolio: Initial Shares (DSC)
International Value Portfolio - Initial Shares (DVIV)
DEUTSCHE ASSET & WEALTH MANAGEMENT
Global Income Builder VIP - Class A (DSGIBA)
Small Cap Index VIP - Class A (BISCI)*
Variable Series II - DWS Small Mid Cap Value VIP - Class B (SVSSVB)
Variable Series II - DWS Large Cap Value VIP - Class B (SVSLVB)
EATON VANCE FUNDS
Floating-Rate Income Fund (ETVFR)
FIDELITY INVESTMENTS
VIP Freedom Fund 2015 Portfolio: Service Class 2 (FF15S2)*
VIP Contrafund(R) Portfolio - Service Class (FCS)
VIP Energy Portfolio - Service Class 2 (FNRS2)
VIP Equity-Income Portfolio - Service Class (FEIS)
VIP Equity-Income Portfolio - Service Class 2 (FEI2)*
VIP Freedom Fund 2010 Portfolio - Service Class (FF10S)
VIP Freedom Fund 2020 Portfolio - Service Class (FF20S)
VIP Freedom Fund 2020 Portfolio - Service Class 2 (FF20S2)*
VIP Freedom Fund 2030 Portfolio - Service Class (FF30S)
VIP Freedom Fund 2030 Portfolio - Service Class 2 (FF30S2)*
VIP Freedom Income Fund Portfolio - Service Class (FFINS)
VIP Growth & Income Portfolio - Service Class (FGIS)*
VIP Growth Opportunities Portfolio - Service Class (FGOS)
VIP Growth Portfolio - Service Class (FGS)
VIP Growth Portfolio - Service Class 2 (FG2)*
VIP High Income Portfolio - Service Class (FHIS)
VIP Index 500 Portfolio - Initial Class (FIP)
VIP Investment Grade Bond Portfolio - Service Class (FIGBS)
VIP Investment Grade Bond Portfolio - Service Class 2 (FIGBP2)*
VIP Mid Cap Portfolio - Service Class (FMCS)
VIP Mid Cap Portfolio - Service Class 2 (FMC2)*
VIP Money Market Portfolio - Initial Class (FMMP)
VIP Overseas Portfolio - Service Class (FOS)
VIP Value Strategies Portfolio - Service Class (FVSS)
VIP Fidelity VIP Freedom Fund 2005 Portfolio - Service Class (FF05S)
VIP Fidelity VIP Freedom Fund 2015 Portfolio - Service Class (FF15S)
VIP Fidelity VIP Freedom Fund 2025 Portfolio - Service Class (FF25S)
VIP Fidelity VIP Freedom Fund 2025 Portfolio - Service Class 2 (FF25S2)*
VIP Fidelity VIP Freedom Fund 2040 Portfolio - Service Class (FF40S)
VIP Fidelity VIP Freedom Fund 2040 Portfolio - Service Class 2 (FF40S2)*
FRANKLIN TEMPLETON DISTRIBUTORS, INC.
Franklin Income Securities Fund - Class 2 (FTVIS2)
Rising Dividends Securities Fund - Class 1 (FTVRDI)
Small Cap Value Securities Fund - Class 1 (FTVSVI)
Small Cap Value Securities Fund - Class 2 (FTVSV2)
Mutual Global Discovery Securities Fund - Class 2 (FTVMD2)
Templeton Developing Markets Securities Fund - Class 2 (FTVDM2)
Templeton Foreign Securities Fund - Class 1 (TIF)
Templeton Foreign Securities Fund - Class 2 (TIF2)
Templeton Global Bond Securities Fund - Class 2 (FTVGI2)
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2)
VIP Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1)
INVESCO INVESTMENTS
Van Kampen V.I. Mid Cap Growth Fund - Series I Shares (IVKMG1)
Balanced-Risk Allocation Fund: Series I Shares (IVBRA1)
VI American Franchise Fund - Series II Shares (ACEG2)*
VI Growth and Income Fund - Series I Shares (ACGI)
VI Growth and Income Fund - Series II Shares (VKLGI2)*
VI American Value Fund: Series I Shares (MSVMV)*
VI American Franchise Fund - Series I Shares (ACEG)
VI Value Opportunities Fund - Series I Shares (AVBVI)
VI High Yield Fund - Series I Shares (AVHY1)
VI International Growth Fund - Series I Shares (AVIE)
VI Mid Cap Core Equity Fund: Series I Shares (AVMCCI)
VI Small Cap Equity Fund - Series I Shares (AVSCE)
J.P. MORGAN INVESTMENT MANAGEMENT INC.
Mid Cap Value Portfolio: Class 1 (JPMMV1)
Small Cap Core Portfolio 1 (JPSCE1)
Insurance Trust Core Bond Portfolio: Class 1 (OGBDP)*
Insurance Trust Intrepid Mid Cap Portfolio: Class 1 (OGDMP)*
Insurance Trust U.S. Equity Portfolio: Class 1 (OGDEP)*
JANUS FUNDS
Balanced Portfolio: Service Shares (JABS)
Enterprise Portfolio: Service Shares (JAMGS)
Flexible Bond Portfolio: Service Shares (JAFBS)
Forty Portfolio: Service Shares (JACAS)
Global Technology Portfolio: Service Shares (JAGTS)
Overseas Portfolio: Service Shares (JAIGS)
Perkins Mid Cap Value Portfolio: Service Shares (JAMVS)
LAZARD FUNDS
Retirement Emerging Markets Equity Portfolio - Service Shares (LZREMS)
LORD ABBETT FUNDS
Lord Abbett Series Fund Inc. - Bond Debenture Portfolio: Class VC (LOVBD)
Lord Abbett Series Fund Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV)
Series Fund, Inc. - Total Return Portfolio - Class VC (LOVTRC)
Lord Abbett Series Fund Inc. - Short Duration Income Portfolio: Class VC (LOVSDC)
M FUNDS
M Large Cap Value Fund (MFBOV)*
M Capital Appreciation Fund (MFFCA)*
M International Equity Fund (MFBIE)*
M Large Cap Growth Fund (MFTCG)*
MASSACHUSETTS FINANCIAL SERVICES CO.
VIT II - MFS Blended Research Core Equity Portfolio- Service Class (MVBRES)
MFS Bond Portfolio - Service Class (MVBDS)*
Var Insurance Trust II - MFS Investors Growth Stock Portfolio: Initial Class (MV2IGI)
Var Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)
Variable Insurance Trust - MFS New Discovery Series - Intital Class (MNDIC)
New Discovery Series - Service Class (MNDSC)
Value Series - Initial Class (MVFIC)
Value Series - Service Class (MVFSC)
Variable Insurance Trust II - MFS International Value Portfolio - Service Class (MVIVSC)
MORGAN STANLEY
Core Plus Fixed Income Portfolio - Class I (MSVFI)
Emerging Markets Debt Portfolio - Class I (MSEM)
Emerging Markets Debt Portfolio - Class II (MSEMB)*
Global Real Estate Portfolio - Class II (VKVGR2)
Mid Cap Growth Portfolio - Class II (MSVMG2)*
Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio- Class I (MSVMG)
Universal Institutional Funds, Inc. - Growth Portfolio - Class I (MSVEG)
U.S. Real Estate Portfolio - Class I (MSVRE)
NATIONWIDE FUNDS GROUP
NVIT Investor Destinations Managed Growth and Income Class I (IDPGI)
NVIT Investor Destinations Managed Growth Class I (IDPG)*
NVIT Cardinal Managed Growth and Income Class I (NCPGI)
NVIT Cardinal Managed Growth Class I (NCPG)
NVIT Bond Index Fund Class I (NVBX)
NVIT International Index Fund Class I (NVIX)
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1)
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2)
American Funds NVIT Bond Fund - Class II (GVABD2)
American Funds NVIT Global Growth Fund - Class II (GVAGG2)
American Funds NVIT Growth Fund - Class II (GVAGR2)
American Funds NVIT Growth-Income Fund - Class II (GVAGI2)
Federated NVIT High Income Bond Fund - Class I (HIBF)
NVIT Emerging Markets Fund - Class I (GEM)
NVIT International Equity Fund - Class I (GIG)
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1)
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1)
Neuberger Berman NVIT Socially Responsible Fund - Class II (NVNSR2)*
NVIT Cardinal Aggressive Fund - Class I (NVCRA1)
NVIT Cardinal Balanced Fund - Class I (NVCRB1)
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1)
NVIT Cardinal Conservative Fund - Class I (NVCCN1)
NVIT Cardinal Moderate Fund - Class I (NVCMD1)
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1)
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1)
NVIT Core Bond Fund - Class I (NVCBD1)
NVIT Core Plus Bond Fund - Class I (NVLCP1)
NVIT Nationwide Fund - Class I (TRF)
NVIT Government Bond Fund - Class I (GBF)
NVIT International Index Fund - Class II (GVIX2)
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA)
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2)
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2)
NVIT Investor Destinations Conservative Fund - Class II (GVIDC)
NVIT Investor Destinations Moderate Fund - Class II (GVIDM)
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA)
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC)
NVIT Mid Cap Index Fund - Class I (MCIF)
NVIT Mid Cap Index Fund - Class II (MCIF2)*
NVIT Money Market Fund - Class I (SAM)
NVIT Money Market Fund - Class V (SAM5)
NVIT Multi-Manager International Growth Fund - Class I (NVMIG1)
NVIT Multi-Manager International Value Fund - Class I (GVDIVI)
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1)
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1)
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1)
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1)
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2)
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF)
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF)
NVIT Multi-Manager Small Company Fund - Class I (SCF)
NVIT Multi-Sector Bond Fund - Class I (MSBF)
NVIT Short Term Bond Fund - Class I (NVSTB1)
NVIT Short Term Bond Fund - Class II (NVSTB2)
NVIT Large Cap Growth Fund - Class I (NVOLG1)
Templeton NVIT International Value Fund - Class III (NVTIV3)
Invesco NVIT Comstock Value Fund - Class I (EIF)
NVIT Real Estate Fund - Class I (NVRE1)
Loring Ward NVIT Capital Appreciation Fund - Class P (NVLCAP)
Loring Ward NVIT Moderate Fund - Class P (NVLMP)
NVIT Small Cap Index Fund Class II (NVSIX2)
NVIT S&P 500 Index Fund Class I (GVEX1)
NEUBERGER & BERMAN MANAGEMENT, INC.
Short Duration Bond Portfolio - I Class Shares (AMTB)
Guardian Portfolio - I Class Shares (AMGP)
International Portfolio - S Class Shares (AMINS)
Mid-Cap Growth Portfolio - I Class Shares (AMCG)
Mid-Cap Growth Portfolio - S Class Shares (AMMCGS)
Advisers Management Trust: Large Cap Value Portfolio - Class I (AMTP)
Advisers Management Trust: Mid Cap Intrinsic Value Portfolio - Class I (AMRI)
Advisers Management Trust: Mid Cap Intrinsic Value Portfolio - Class S (AMRS)*
Socially Responsive Portfolio - I Class Shares (AMSRS)
NORTHERN LIGHTS
TOPS Managed Risk Balanced ETF Portfolio - Class 3 (NOTB3)
TOPS Managed Risk Growth ETF Portfolio - Class 3 (NOTG3)
TOPS Managed Risk Moderate Growth ETF Portfolio - Class 3 (NOTMG3)
AMERICAN CENTURY INVESTORS INC.
VP Capital Appreciation Fund - Class I (ACVCA)
VP Income & Growth Fund - Class I (ACVIG)
VP Inflation Protection Fund - Class II (ACVIP2)
VP International Fund - Class I (ACVI)
VP Mid Cap Value Fund - Class I (ACVMV1)
VP Mid Cap Value Fund - Class II (ACVMV2)*
VP Ultra(R) Fund - Class I (ACVU1)
VP Value Fund - Class I (ACVV)
VP Value Fund - Class II (ACVV2)*
FEDERATED INVESTORS
Managed Tail Risk Fund II: Primary Shares (FVCA2P)
Quality Bond Fund II - Primary Shares (FQB)
Quality Bond Fund II - Service Shares (FQBS)*
GOLDMAN SACHS ASSET MANAGEMENT GROUP
Mid Cap Value- Institutional Shares (GVMCE)
Goldman Sachs Structured Small Cap Equity Fund (GVCSE)
VIT Growth Opportunities Fund - Service Shares (GVGOPS)
Goldman Sachs Global Markets Navigator Fund - Service Shares (GVGMNS)
LEGG MASON
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG)
LINCOLN FUNDS
Baron Growth Opportunities Fund Service Class (BNCAI)
OPPENHEIMER FUNDS
Oppenheimer Capital Appreciation Fund/VA - Service Class (OVCAFS)*
Capital Appreciation Fund/VA - Non-Service Shares (OVGR)
Global Securities Fund/VA - Non-Service Shares (OVGS)
Oppenheimer Variable Account Funds - Oppenheimer Global Fund/VA: Service Shares (OVGSS)*
International Growth Fund/VA - Non-Service Shares (OVIG)
Main Street Fund(R)/VA - Non-Service Shares (OVGI)
Main Street Small- & Mid-Cap Fund(R)/VA - Non-Service Shares (OVSC)
Discovery Mid Cap Growth Fund/VA - Non-Service Shares (OVAG)
Global Strategic Income Fund/VA: Non-service Shares (OVSB)
PIMCO FUNDS
All Asset Portfolio - Administrative Class (PMVAAA)
CommodityRealReturn(R) Strategy Portfolio - Administrative Class (PMVRSA)
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA)
Long-Term U.S. Government Portfolio - Administrative Class (PMVLGA)
Low Duration Portfolio - Administrative Class (PMVLDA)
Real Return Portfolio - Administrative Class (PMVRRA)
Total Return Portfolio - Administrative Class (PMVTRA)
PIONEER FUNDS
Pioneer Emerging Markets VCT Portfolio - Class I Shares (PIVEMI)
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1)
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)*
PUTNAM INVESTMENTS
VT Growth & Income Fund: Class IB (PVGIB)
VT Growth Opportunities Fund: Class IB (PVGOB)
VT International Equity Fund: Class IB (PVTIGB)
VT Small Cap Value Fund: Class IB (PVTSCB)
ROYCE CAPITAL FUNDS
Micro-Cap Portfolio - Investment Class (ROCMC)
Small-Cap Portfolio - Investment Class (ROCSC)*
GUGGENHEIM INVESTMENTS
Variable Fund - Multi-Hedge Strategies (RVARS)
T. ROWE PRICE
Blue Chip Growth Portfolio - II (TRBCG2)*
Equity Income Portfolio - II (TREI2)
Health Sciences Portfolio - II (TRHS2)
Limited-Term Bond Portfolio (TRLT1)
Limited-Term Bond Portfolio - II (TRLT2)
Mid-Cap Growth Portfolio - II (TRMCG2)
New America Growth Portfolio (TRNAG1)
Personal Strategy Balanced Portfolio (TRPSB1)
Blue Chip Growth Portfolio (TRBCGP)
VAN ECK ASSOCIATES CORPORATION
VIP Trust Emerging Markets Fund - Initial Class (VWEM)
VIP Trust Global Hard Assets Fund - Initial Class (VWHA)
VANGUARD GROUP OF INVESTMENT COMPANIES
Variable Insurance Fund - Balanced Portfolio (VVB)
Insurance Fund - Capital Growth Portfolio (VVCG)
Variable Insurance Fund - Diversified Value Portfolio (VVDV)
Variable Insurance Fund - International Portfolio (VVI)
Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)
Variable Insurance Fund - REIT Index Portfolio (VVREI)
Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)
Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)
Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)
WADDELL & REED, INC.
Variable Insurance Portfolios - Asset Strategy (WRASP)
Variable Insurance Portfolios - Growth (WRGP)
Variable Insurance Portfolios - High Income (WRHIP)
Variable Insurance Portfolios - Mid Cap Growth (WRMCG)
Variable Insurance Portfolios - Real Estate Securities (WRRESP)
Variable Insurance Portfolios - Science and Technology (WRSTP)
WELLS FARGO FUNDS
Wells Fargo Variable Trust - VT Discovery Fund: Class 2 (SVDF)
Advantage VT Opportunity Fund - Class 2 (SVOF)
Advantage VT Small Cap Growth Fund - Class 2 (WFVSCG)
* | At December 31, 2016, contract owners were not invested in this fund. |
The contract owners equity is affected by the investment results of each fund, equity transactions by contract owners and certain policy and asset charges (see notes 2 and 3). The accompanying financial statements include only contract owners purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company.
A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.
Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.
A purchase payment could be presented as a negative equity transaction in the Statements of Changes in Contract Owners Equity if a prior period purchase payment is refunded to a contract owner due to a contract cancellation during the free look period, and/or if a gain is realized by the contract owner during the free look period.
The Company allocates purchase payments to sub-accounts and/or the fixed account as instructed by the contract owner. Shares of the sub-accounts are purchased at Net Asset Value, then converted into accumulation units. Certain transactions may be subject to conditions imposed by the underlying mutual funds, as well as those set forth in the contract.
(c) Security Valuation, Transactions and Related Investment Income
Investments in underlying mutual funds are valued at the closing Net Asset Value per share at December 31, 2016 of such funds. The cost of investments sold is determined on a first in - first out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed), and dividends and capital gain distributions are accrued as of the ex-dividend date and are reinvested in the underlying mutual funds.
(d) Federal Income Taxes
Operations of the Account form a part of, and are taxed with, operations of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. The Company does not provide for income taxes within the Account. Taxes are generally the responsibility of the contract owner upon termination or withdrawal.
(e) Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
(f) Recently Issued Accounting Standards
There are no recently issued accounting standards applicable to the Account.
(g) Subsequent Events
The Company evaluated subsequent events through the date the financial statements were issued with the Securities and Exchange Commission, and no subsequent events have occurred requiring accrual or disclosure.
(h) Securities and Exchange Commission Regulations
On October 13, 2016, the Securities and Exchange Commission amended Regulation S-X, which will require standardized, enhanced disclosure about derivatives in investment company financial statements, as well as other amendments. The compliance date for the amendments to Regulation S-X is August 1, 2017. Management is currently evaluating the impact to the financial statements and disclosures.
(2) Policy Charges
(a) Deductions from Premium
For individual flexible premium and survivorship contracts, the Company deducts a minimum of 4.0% to a maximum of 8.5% of all premiums received to cover premium tax and sales expense. The Company may, at its sole discretion, reduce the sales loading portion of the premium load.
There are no deductions from premium on modified single premium contracts.
For the Corporate Series, the Company deducts a front-end sales load from each premium payment received to compensate us for our sales expenses and premium taxes, and certain actual expenses, including acquisition costs. The Company may reduce this charge where the size or nature of the group results in savings in sales, underwriting, or administrative costs. Variations due to differences in costs are determined in a manner not unfairly discriminatory to policy owners.
For Future Corporate Flexible Premium Variable Universal Life this charge is guaranteed not to exceed 12% from each premium payment received.
For Future Executive Flexible Premium Variable Universal Life this charge is guaranteed not to exceed 12% (5.5% starting in the sixth policy year) from each premium payment received.
For Next Generation Corporate Owned Flexible Premium Variable Universal Life this charge is guaranteed not to exceed 10% from each premium payment received.
For the periods ended December 31, 2016 and 2015, total front-end sales charge deductions were $11,076,473 and $11,857,145, respectively and were recognized as a reduction of purchase payments on the Statements of Changes in Contract Owners Equity.
(b) Cost of Insurance
A cost of insurance charge is assessed monthly against each contract by liquidating units. The amount of the charge varies widely and is based upon age, sex, rate class and net amount at risk (death benefit less total contract value).
(c) Administrative Charges
For The Best of America® Next Generation, ChoiceLifeSM and all flexible premium survivorship contracts, the Company currently deducts a minimum monthly administration charge (for ProtectionSM flexible premium contracts this is known as the monthly expense charge) of $5 per policy month to a maximum of $10 per policy month to recover policy maintenance, accounting, record keeping and other administrative expenses. These charges are assessed monthly against each contract by liquidating units. For The Best of America® Last Survivorship II and The Best of America® ChoiceLife Survivorship Life contracts, there is an additional administrative (per specified amount) charge assessed to reimburse us for sales, underwriting, distribution and issuance costs. This charge is deducted from the policys Cash Value. During the first ten years from the Policy Date, the current monthly charge is $0.04 per $1,000 of Specified Amount, subject to a minimum charge of $20 and a maximum charge of $80 per month. These rates represent the maximum guaranteed charge for all years. After the tenth year from the Policy Date, the current monthly charge is $0.02 per $1,000 of Specified Amount with a $10 minimum and $40 maximum charge.
For The Best of America® ChoiceLifeSM Survivorship II, Next GenerationSM Survivorship Life, The Best of America® Protection Survivorship Life and The Best of America® ChoiceLifeSM Protection contracts, the Company deducts a per $1,000 of specified amount charge for the first 3 policy years. This charge varies with the age of the insured and will not exceed $0.40 per $1,000 of Specified Amount. These charges are assessed monthly against each contract by liquidating units.
For modified single premium contracts, for all states other than New York, the Company currently deducts a minimum monthly administration charge of $10 per policy per month. The actual charge is determined by multiplying 0.30% on an annualized basis by the policys cash value. This charge may be reduced to 0.15% on an annualized basis for policy years 11 and later. In New York, this charge is assessed in all policy years, with a maximum charge of $7.50 per month. These charges are assessed monthly against each contract by liquidating units.
For ProtectionSM flexible premium contracts, the Company deducts a policy expense per $1,000 of specified amount charge for the first two policy years. This charge varies with the age of the insured and will not exceed $0.30 per $1,000 of specified amount. For last survivor contracts, the Company deducts a per $1,000 of specified amount charge for the first 3 policy years. This charge varies with the age of the insured and will not exceed $0.40 per $1,000 of specified amount. These charges are assessed monthly against each contract by liquidating units.
For the Corporate Series, the Company deducts a monthly administrative expense charge to recover policy maintenance, accounting, record keeping and other administrative expenses. These charges are assessed against each contract by liquidating units. Currently, this monthly charge $5 per policy in all policy years (guaranteed not to exceed $10 per policy). We also deduct a per $1,000 of specified amount charge to compensate us for sales, underwriting, distribution and issuance of the policy. This charge is assessed monthly against each contract by liquidating units. This charge varies depending on the total specified amount. For Future Corporate Flexible Premium Variable Universal Life, the Company deducts a per $1,000 of specified amount that will not exceed $0.40 per $1,000 of specified amount, unless the policy is issued in the state of New York with an application signed on or after January 2, 2010, where the maximum guaranteed charge is $0.085 of specified amount. For Next Generation Corporate Owned Flexible Premium Variable Universal Life and Future Executive Corporate Flexible Premium Variable Universal Life the Company deducts a per $1,000 of specified amount charge that will not exceed $0.40 per $1,000 of specified amount.
(d) Surrender Charges
Policy surrenders result in a redemption of the contract value from the Account and payment of the surrender proceeds to the contract owner or designee. The surrender proceeds consist of the contract value, less any outstanding policy loans, and less a surrender charge, if applicable. The amount of the charge is based upon a specified percentage of the initial surrender charge which varies by issue age, sex and rate class. For individual flexible premium, flexible premium survivorship and modified single premium and corporate contracts (such as Variable Executive Life), the charge is 100% of the initial surrender charge in the first year, and declines a specified amount in subsequent years to 0% of the initial surrender charge in the ninth year or later. The Company may waive the surrender charge for certain contracts in which the sales expenses normally associated with the distribution of a contract are not incurred. The charges are assessed against each contract by liquidating units.
For the Corporate Series, contracts do not currently assess surrender charges.
(3) Asset Charges
The Company deducts a charge related to the assumption of mortality and expense risk.
(a) Modified Single Premium Contracts (MSP)
For modified single premium contracts, the Company deducts a charge equal to an annualized rate of 0.70% of the cash surrender value of the sub-accounts. In policy years 1- 10, the Company also deducts a charge equal to the annualized rate of 0.50% of the cash surrender value of the sub-accounts to remiburse us for taxes imposed by federal, state and local governments. These charges are assessed monthly against each contract by liquidating units.
(b) Flexible Premium and Variable Executive Life Contracts (FPVUL and VEL)
For Best of America® The Next Generation and ChoiceLifeSM contracts, during the first fifteen policy years, the Company deducts a charge of $0.50 per $1,000 on the first $25,000 of cash value attributable to the variable account, $0.25 per $1,000 on $25,001 up to $250,000 of cash value attributable to the variable account and $0.08 per $1,000 over $250,000 of cash value attributable to the variable account. Beginning in policy year sixteen, the Company deducts a charge of $0.50 per $1,000 on the first $25,000 of cash value attributable to the variable account, and $0.08 per $1,000 over
$25,000 of cash value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units. For Choice Life ProtectionSM contracts and Best of America® ProtectionSM contracts, the Company deducts $0.66 per $1,000 of cash surrender value attributable to the variable account during the first through fifteenth years from the Policy Date. Thereafter, this charge is $0.25 per $1,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.
(c) Survivorship Life Contracts (SL)
For The Best of America® Last Survivorship II and The Best of America® ChoiceLife Survivorship contracts, during the first ten policy years, the Company deducts a charge of $0.46 per $1,000 on the cash surrender value attributable to the variable account. After ten years from the Policy Date, the Company deducts $0.46 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account; $0.29 per $1,000 on $25,001 up to $99,999 of cash surrender value attributable to the variable account; and $0.17 per $1,000 on $100,000 or more of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.
For The Best of America® ChoiceLifeSM Survivorship II and Next GenerationSM Survivorship Life contracts, during the first fifteen policy years, the Company deducts a charge of $0.50 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account; $0.25 per $1,000 on $25,001 up to $250,000 of cash surrender value attributable to the variable account; and $0.08 per $1,000 over $250,000 of cash surrender value attributable to the variable account. After fifteen years from the Policy Date, the Company deducts $0.50 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account and $0.08 per $1,000 over $25,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.
For The Best of America® ProtectionSM Survivorship and ChoiceLife ProtectionSM Survivorship Life contracts, during the first fifteen policy years, the Company deducts a charge of $0.66 per $1,000 of cash surrender value attributable to the variable account. After fifteen years from the Policy Date, the Company deducts $0.25 per $1,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.
(d) Corporate Contracts (LSFP)
For Future Corporate Flexible Premium variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 0.90% of the daily net assets of the Account for policies issued on or after January 1, 2009. This charge is guaranteed not to exceed an annualized rate of 0.75% of the daily net assets of the Account for policies issued prior to January 1, 2009. Currently, this rate is 0.25% during the first through fourth policy years, 0.20% during the fifth through fifteenth policy years, and 0.10% thereafter. This charge is assessed monthly against each contract by liquidating units.
For Future Executive Corporate Flexible Premium Variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 0.90% of the daily net assets of the Account. Currently, this rate is 0.25% during the first through fourth policy years, 0.20% during the fifth through fifteenth policy years, and 0.10% thereafter. This charge is assessed monthly against each contract by liquidating units.
For Next Generation Corporate Owned Flexible Premium Variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 1.25% of the daily net assets of the Account. Currently, this rate will not exceed 0.60%. This charge is assessed monthly against each contract by liquidating units.
The Company may reduce or eliminate certain charges where the size or nature of the group results in savings in sales, underwriting, administrative or other costs to the Company. These charges may be reduced in certain group sponsored arrangements or special exchange programs made available by the Company.
(4) Death Benefits
Death benefit proceeds result in a redemption of the contract value from the Account and payment of those proceeds, less any outstanding policy loans (and policy charges), to the legal beneficiary. In the event that the guaranteed death benefit exceeds the contract value on the date of death, the excess is paid by the Companys general account.
(5) Policy Loans (Net of Repayments)
Contract provisions allow contract owners to borrow 90% of a policys variable cash surrender value plus 100% of a policys fixed cash surrender value less applicable value of surrender charge. Interest is charged on the outstanding loan and is due and payable in advance on the policy anniversary. At the time the loan is granted, the amount of the loan is transferred from the Account to the Companys general account as collateral for the outstanding loan. Collateral amounts in the general account are credited with the stated rate of interest in effect at the time the loan is made, subject to a guaranteed minimum rate. Interest credited is paid by the Companys general account to the Account. Loan repayments result in a transfer of collateral including interest credited back to the Account.
(6) Related Party Transactions
The Company performs various services on behalf of the mutual fund companies in which the Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company.
Contract owners may, with certain restrictions, transfer their assets between the Account and a fixed dollar contract (fixed account) maintained in the accounts of the Company. These transfers are the result of the contract owner executing fund exchanges. Fund exchanges from the Account to the fixed account are included in surrenders, and fund exchanges from the fixed account to the Account are included in purchase payments received from contract owners, as applicable, on the accompanying Statements of Changes in Contract Owners Equity. Policy loan transactions (note 5), executed at the direction of the contract owner, also result in transfers between the Account and the fixed account of the Company, but are included in Net Policy Repayments (Loans). The fixed account assets are not reflected in the accompanying financial statements. For the periods ended December 31, 2016 and 2015, total transfers to the Account from the fixed account were $47,759,275 and $46,415,343, respectively, and total transfers from the Account to the fixed account were $83,480,348 and $92,646,180, respectively.
(7) Fair Value Measurement
FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Account generally uses the market approach as the valuation technique due to the nature of the mutual fund investments offered in the Account. This technique maximizes the use of observable inputs and minimizes the use of unobservable inputs.
In accordance with FASB ASC 820, the Account categorized its financial instruments into a three level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.
The Account categorizes financial assets recorded at fair value as follows:
| Level 1 Unadjusted quoted prices accessible in active markets and mutual funds where the value per share (unit) is determined and published and is the basis for current transactions for identical assets or liabilities at the measurement date. |
| Level 2 Unadjusted quoted prices for similar assets or liabilities in active markets or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. |
| Level 3 Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect managements best estimate about the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs. |
The Account recognizes transfers between fair value hierarchy levels at the reporting period end. There were no transfers between Level 1 and 2 as of December 31, 2016.
The following table summarizes assets measured at fair value on a recurring basis as of December 31, 2016:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Separate Account Investments |
$ | 4,732,604,741 | $ | - | $ | - | $ | 4,732,604,741 |
The cost of purchases and proceeds from sales of Investments for the year ended December 31, 2016 are as follows:
Purchase of Investments |
Sales of Investments |
|||||||
VPS Dynamic Asset Allocation Portfolio - Class A (ALVDAA) |
$ | 8,859 | $ | 44,869 | ||||
VP Inflation Protection Fund - Class I (ACVIP1) |
15,788,261 | 2,203,470 | ||||||
Asset Allocation Fund - Class 2 (AMVAA2) |
3,117,097 | 471,680 | ||||||
Bond Fund - Class 2 (AMVBD2) |
1,474,024 | 761,610 | ||||||
Global Small Capitalization Fund - Class 2 (AMVGS2) |
504,528 | 530,670 | ||||||
Growth Fund - Class 2 (AMVGR2) |
4,631,885 | 4,401,096 | ||||||
International Fund - Class 2 (AMVI2) |
2,679,607 | 1,470,656 | ||||||
New World Fund - Class 2 (AMVNW2) |
380,769 | 1,668 | ||||||
Variable Series Funds, Inc. - BlackRock High Yield V.I. Fund- Class I (BRVHYI) |
2,469,897 | 1,552,848 | ||||||
Large Cap Core V.I. Fund - Class II (MLVLC2) |
963,584 | 1,267,778 | ||||||
Global Allocation V.I. Fund - Class II (MLVGA2) |
1,143,431 | 2,005,010 | ||||||
VP S&P 500 Index Portfolio (CVSPIP) |
523,271 | 417,512 | ||||||
Value Portfolio (DAVVL) |
2,139,456 | 840,412 | ||||||
VIP Emerging Markets Series: Service Class (DWVEMS) |
1,406,311 | 593,475 | ||||||
VIP Small Cap Value Series: Service Class (DWVSVS) |
5,809,351 | 3,133,258 | ||||||
VA Inflation-Protected Securities Portfolio (DFVIPS) |
5,781,750 | 472,700 | ||||||
VA International Small Portfolio (DFVIS) |
76,548 | 243,316 | ||||||
VA U.S. Targeted Value Portfolio (DFVUTV) |
876,734 | 410,761 | ||||||
Stock Index Fund, Inc. - Initial Shares (DSIF) |
69,471,547 | 50,074,869 | ||||||
Socially Responsible Growth Fund Inc - Initial Shares (DSRG) |
1,271,505 | 1,025,297 | ||||||
Global Income Builder VIP - Class A (DSGIBA) |
27,630 | 3,440 | ||||||
Floating-Rate Income Fund (ETVFR) |
19,301,495 | 14,725,747 | ||||||
Franklin Income Securities Fund - Class 2 (FTVIS2) |
1,339,526 | 1,215,532 | ||||||
Rising Dividends Securities Fund - Class 1 (FTVRDI) |
3,817,991 | 3,199,554 | ||||||
Small Cap Value Securities Fund - Class 1 (FTVSVI) |
2,179,634 | 1,081,734 | ||||||
Small Cap Value Securities Fund - Class 2 (FTVSV2) |
5,064,526 | 4,099,241 | ||||||
Mutual Global Discovery Securities Fund - Class 2 (FTVMD2) |
557,178 | 514,819 | ||||||
Templeton Developing Markets Securities Fund - Class 2 (FTVDM2) |
380,327 | 462,718 | ||||||
Templeton Foreign Securities Fund - Class 1 (TIF) |
37,272 | 92,149 |
Templeton Foreign Securities Fund - Class 2 (TIF2) |
3,417,103 | 4,380,475 | ||||||
Templeton Global Bond Securities Fund - Class 2 (FTVGI2) |
904,216 | 4,267,361 | ||||||
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2) |
129,959 | 177,773 | ||||||
VIP Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1) |
6,337,336 | 5,606,209 | ||||||
Van Kampen V.I. Mid Cap Growth Fund - Series I Shares (IVKMG1) |
515,663 | 1,822,399 | ||||||
Balanced-Risk Allocation Fund: Series I Shares (IVBRA1) |
1,150,252 | 351,436 | ||||||
Mid Cap Value Portfolio: Class 1 (JPMMV1) |
18,727,006 | 3,130,599 | ||||||
Small Cap Core Portfolio 1 (JPSCE1) |
52,566 | 2,853 | ||||||
Balanced Portfolio: Service Shares (JABS) |
6,637,413 | 4,413,951 | ||||||
Enterprise Portfolio: Service Shares (JAMGS) |
5,244,809 | 369,628 | ||||||
Flexible Bond Portfolio: Service Shares (JAFBS) |
5,656,916 | 4,172,577 | ||||||
Forty Portfolio: Service Shares (JACAS) |
8,050,554 | 6,900,943 | ||||||
Global Technology Portfolio: Service Shares (JAGTS) |
2,422,515 | 2,722,397 | ||||||
Overseas Portfolio: Service Shares (JAIGS) |
3,643,085 | 2,742,729 | ||||||
Perkins Mid Cap Value Portfolio: Service Shares (JAMVS) |
875,057 | 1,477,389 | ||||||
Retirement Emerging Markets Equity Portfolio - Service Shares (LZREMS) |
8,125,580 | 8,853,947 | ||||||
Lord Abbett Series Fund Inc. - Bond Debenture Portfolio: Class VC (LOVBD) |
2,259,114 | 283,540 | ||||||
Lord Abbett Series Fund Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV) |
18,795 | 11,089 | ||||||
Series Fund, Inc. - Total Return Portfolio - Class VC (LOVTRC) |
6,726,509 | 2,034,740 | ||||||
Lord Abbett Series Fund Inc. - Short Duration Income Portfolio: Class VC (LOVSDC) |
12,679,774 | 405,597 | ||||||
VIT II - MFS Blended Research Core Equity Portfolio- Service Class (MVBRES) |
416,370 | 535,870 | ||||||
Var Insurance Trust II - MFS Investors Growth Stock Portfolio: Initial Class (MV2IGI) |
504,582 | 422,340 | ||||||
Var Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS) |
94,446 | 270,198 | ||||||
Variable Insurance Trust - MFS New Discovery Series - Intital Class (MNDIC) |
58,947 | 137,480 | ||||||
New Discovery Series - Service Class (MNDSC) |
26,662 | 289,338 | ||||||
Value Series - Initial Class (MVFIC) |
3,174,948 | 1,381,429 | ||||||
Value Series - Service Class (MVFSC) |
34,310,013 | 7,536,212 | ||||||
Variable Insurance Trust II - MFS International Value Portfolio - Service Class (MVIVSC) |
17,811,712 | 10,744,546 | ||||||
Core Plus Fixed Income Portfolio - Class I (MSVFI) |
913,337 | 579,470 | ||||||
Emerging Markets Debt Portfolio - Class I (MSEM) |
2,971,181 | 16,126,109 | ||||||
Global Real Estate Portfolio - Class II (VKVGR2) |
1,171,221 | 1,693,144 | ||||||
Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio- Class I (MSVMG) |
1,905,950 | 4,559,243 | ||||||
Universal Institutional Funds, Inc. - Growth Portfolio - Class I (MSVEG) |
704,204 | 230,500 | ||||||
U.S. Real Estate Portfolio - Class I (MSVRE) |
4,413,784 | 7,521,800 | ||||||
NVIT Investor Destinations Managed Growth and Income Class I (IDPGI) |
829 | 7 | ||||||
NVIT Investor Destinations Managed Growth Class I (IDPG) |
56 | 45,226 | ||||||
NVIT Cardinal Managed Growth and Income Class I (NCPGI) |
2,629 | 1,873 | ||||||
NVIT Cardinal Managed Growth Class I (NCPG) |
29,457 | 27,358 | ||||||
NVIT Bond Index Fund Class I (NVBX) |
9,065,747 | 5,305,378 | ||||||
NVIT International Index Fund Class I (NVIX) |
11,265,409 | 5,541,610 | ||||||
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1) |
5,364,799 | 2,983,677 | ||||||
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2) |
2,107,847 | 1,534,367 | ||||||
American Funds NVIT Bond Fund - Class II (GVABD2) |
603,978 | 737,314 | ||||||
American Funds NVIT Global Growth Fund - Class II (GVAGG2) |
1,360,132 | 1,147,526 | ||||||
American Funds NVIT Growth Fund - Class II (GVAGR2) |
2,489,845 | 1,102,197 | ||||||
American Funds NVIT Growth-Income Fund - Class II (GVAGI2) |
946,237 | 553,456 | ||||||
Federated NVIT High Income Bond Fund - Class I (HIBF) |
5,459,131 | 4,969,393 | ||||||
NVIT Emerging Markets Fund - Class I (GEM) |
2,140,723 | 1,973,990 | ||||||
NVIT International Equity Fund - Class I (GIG) |
2,698,729 | 3,881,713 | ||||||
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6) |
3,624 | 9,141 | ||||||
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1) |
994,460 | 1,222,092 | ||||||
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1) |
41,796 | 58,378 | ||||||
NVIT Cardinal Aggressive Fund - Class I (NVCRA1) |
1,991,582 | 1,590,738 | ||||||
NVIT Cardinal Balanced Fund - Class I (NVCRB1) |
15,096,056 | 3,331,741 | ||||||
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1) |
2,733,022 | 2,120,437 | ||||||
NVIT Cardinal Conservative Fund - Class I (NVCCN1) |
1,452,713 | 1,579,151 | ||||||
NVIT Cardinal Moderate Fund - Class I (NVCMD1) |
1,086,222 | 834,512 | ||||||
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1) |
1,058,754 | 555,330 | ||||||
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1) |
1,411,435 | 1,942,537 | ||||||
NVIT Core Bond Fund - Class I (NVCBD1) |
1,156,207 | 481,968 | ||||||
NVIT Core Plus Bond Fund - Class I (NVLCP1) |
515,449 | 710,597 | ||||||
NVIT Nationwide Fund - Class I (TRF) |
17,539,222 | 21,405,209 | ||||||
NVIT Government Bond Fund - Class I (GBF) |
7,843,582 | 9,121,195 | ||||||
NVIT International Index Fund - Class II (GVIX2) |
308,289 | 1,175,675 | ||||||
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA) |
4,208,916 | 2,833,030 | ||||||
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2) |
125,694 | 77,631 | ||||||
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2) |
127,553 | 105,581 | ||||||
NVIT Investor Destinations Conservative Fund - Class II (GVIDC) |
6,385,551 | 2,767,466 | ||||||
NVIT Investor Destinations Moderate Fund - Class II (GVIDM) |
8,066,905 | 8,895,993 |
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA) |
13,889,722 | 9,056,397 | ||||||
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC) |
4,323,796 | 3,015,605 | ||||||
NVIT Mid Cap Index Fund - Class I (MCIF) |
24,440,987 | 10,739,917 | ||||||
NVIT Money Market Fund - Class I (SAM) |
17,305,226 | 18,619,148 | ||||||
NVIT Money Market Fund - Class V (SAM5) |
115,872,625 | 135,280,543 | ||||||
NVIT Multi-Manager International Growth Fund - Class I (NVMIG1) |
755,722 | 1,305,204 | ||||||
NVIT Multi-Manager International Value Fund - Class I (GVDIVI) |
403,633 | 479,969 | ||||||
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1) |
3,654,130 | 1,730,792 | ||||||
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1) |
4,021,054 | 2,525,320 | ||||||
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1) |
6,947,174 | 4,759,912 | ||||||
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1) |
397,461 | 218,379 | ||||||
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2) |
2,105,612 | 1,257,547 | ||||||
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF) |
5,234,550 | 1,748,751 | ||||||
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF) |
4,963,595 | 4,778,766 | ||||||
NVIT Multi-Manager Small Company Fund - Class I (SCF) |
7,582,402 | 4,784,300 | ||||||
NVIT Multi-Sector Bond Fund - Class I (MSBF) |
1,787,143 | 1,150,470 | ||||||
NVIT Short Term Bond Fund - Class I (NVSTB1) |
35,842,829 | 18,513,067 | ||||||
NVIT Short Term Bond Fund - Class II (NVSTB2) |
223,596 | 587,881 | ||||||
NVIT Large Cap Growth Fund - Class I (NVOLG1) |
47,960,517 | 13,462,269 | ||||||
Templeton NVIT International Value Fund - Class III (NVTIV3) |
86,834 | 195,515 | ||||||
Invesco NVIT Comstock Value Fund - Class I (EIF) |
713,173 | 1,370,678 | ||||||
NVIT Real Estate Fund - Class I (NVRE1) |
5,445,753 | 4,523,585 | ||||||
Loring Ward NVIT Capital Appreciation Fund - Class P (NVLCAP) |
21,327 | 14,213 | ||||||
Loring Ward NVIT Moderate Fund - Class P (NVLMP) |
2,981 | 1,829 | ||||||
NVIT Small Cap Index Fund Class II (NVSIX2) |
681,261 | 77,789 | ||||||
NVIT S&P 500 Index Fund Class I (GVEX1) |
2,453,890 | 925,117 | ||||||
Short Duration Bond Portfolio - I Class Shares (AMTB) |
986,600 | 761,213 | ||||||
Guardian Portfolio - I Class Shares (AMGP) |
294,433 | 104,865 | ||||||
Mid-Cap Growth Portfolio - I Class Shares (AMCG) |
208,174 | 484,311 | ||||||
Mid-Cap Growth Portfolio - S Class Shares (AMMCGS) |
159,256 | 166,080 | ||||||
Advisers Management Trust: Large Cap Value Portfolio - Class I (AMTP) |
175,240 | 131,802 | ||||||
Advisers Management Trust: Mid Cap Intrinsic Value Portfolio - Class I (AMRI) |
914,533 | 597,063 | ||||||
Socially Responsive Portfolio - I Class Shares (AMSRS) |
128,351 | 171,818 | ||||||
TOPS Managed Risk Balanced ETF Portfolio - Class 3 (NOTB3) |
4,010 | 2,523 | ||||||
TOPS Managed Risk Growth ETF Portfolio - Class 3 (NOTG3) |
32,167 | 1,992 | ||||||
TOPS Managed Risk Moderate Growth ETF Portfolio - Class 3 (NOTMG3) |
32,120 | 1,776 | ||||||
VPS Growth and Income Portfolio - Class A (ALVGIA) |
5,052,122 | 3,837,048 | ||||||
VPS International Value Portfolio - Class A (ALVIVA) |
1,478,113 | 633,198 | ||||||
VPS Small/Mid Cap Value Portfolio - Class A (ALVSVA) |
4,732,415 | 4,939,110 | ||||||
VP Capital Appreciation Fund - Class I (ACVCA) |
428,360 | 330,969 | ||||||
VP Income & Growth Fund - Class I (ACVIG) |
1,058,531 | 1,676,854 | ||||||
VP Inflation Protection Fund - Class II (ACVIP2) |
1,273,612 | 1,641,911 | ||||||
VP International Fund - Class I (ACVI) |
2,373,375 | 203,203 | ||||||
VP Mid Cap Value Fund - Class I (ACVMV1) |
8,100,484 | 4,896,296 | ||||||
VP Ultra(R) Fund - Class I (ACVU1) |
95,030 | 272,801 | ||||||
VP Value Fund - Class I (ACVV) |
11,691,068 | 11,480,122 | ||||||
MidCap Stock Portfolio - Initial Shares (DVMCS) |
528,487 | 613,960 | ||||||
Small Cap Stock Index Portfolio - Service Shares (DVSCS) |
22,795,281 | 13,677,530 | ||||||
Appreciation Portfolio - Initial Shares (DCAP) |
4,441,496 | 3,993,036 | ||||||
Opportunistic Small Cap Portfolio: Initial Shares (DSC) |
293,682 | 261,970 | ||||||
International Value Portfolio - Initial Shares (DVIV) |
576,241 | 1,134,579 | ||||||
Variable Series II - DWS Small Mid Cap Value VIP - Class B (SVSSVB) |
36,512 | 34,396 | ||||||
Variable Series II - DWS Large Cap Value VIP - Class B (SVSLVB) |
10,498 | 59,118 | ||||||
Managed Tail Risk Fund II: Primary Shares (FVCA2P) |
62,093 | 39,486 | ||||||
Quality Bond Fund II - Primary Shares (FQB) |
1,591,690 | 2,439,083 | ||||||
VIP Contrafund(R) Portfolio - Service Class (FCS) |
7,711,713 | 11,039,495 | ||||||
VIP Energy Portfolio - Service Class 2 (FNRS2) |
1,515,436 | 1,344,420 | ||||||
VIP Equity-Income Portfolio - Service Class (FEIS) |
8,462,651 | 8,972,485 | ||||||
VIP Freedom Fund 2010 Portfolio - Service Class (FF10S) |
314,527 | 255,231 | ||||||
VIP Freedom Fund 2020 Portfolio - Service Class (FF20S) |
10,049,330 | 4,894,640 | ||||||
VIP Freedom Fund 2030 Portfolio - Service Class (FF30S) |
5,072,399 | 2,128,107 | ||||||
VIP Freedom Income Fund Portfolio - Service Class (FFINS) |
91,549 | 368,727 | ||||||
VIP Growth Opportunities Portfolio - Service Class (FGOS) |
9,683 | 87,462 | ||||||
VIP Growth Portfolio - Service Class (FGS) |
12,727,787 | 8,665,699 | ||||||
VIP High Income Portfolio - Service Class (FHIS) |
2,245,240 | 2,559,477 | ||||||
VIP Index 500 Portfolio - Initial Class (FIP) |
3,878,971 | 4,939,086 | ||||||
VIP Investment Grade Bond Portfolio - Service Class (FIGBS) |
31,990,529 | 19,600,568 | ||||||
VIP Mid Cap Portfolio - Service Class (FMCS) |
5,890,960 | 9,234,771 | ||||||
VIP Money Market Portfolio - Initial Class (FMMP) |
11,844,074 | 2,491,273 |
VIP Overseas Portfolio - Service Class (FOS) |
1,221,529 | 2,851,786 | ||||||
VIP Value Strategies Portfolio - Service Class (FVSS) |
208,175 | 477,737 | ||||||
VIP Fidelity VIP Freedom Fund 2005 Portfolio - Service Class (FF05S) |
200,633 | 44,884 | ||||||
VIP Fidelity VIP Freedom Fund 2015 Portfolio - Service Class (FF15S) |
1,491,335 | 4,110,242 | ||||||
VIP Fidelity VIP Freedom Fund 2025 Portfolio - Service Class (FF25S) |
6,835,035 | 3,104,498 | ||||||
VIP Fidelity VIP Freedom Fund 2040 Portfolio - Service Class (FF40S) |
3,023,998 | 1,502,654 | ||||||
Mid Cap Value- Institutional Shares (GVMCE) |
4,126,161 | 22,384,915 | ||||||
Goldman Sachs Structured Small Cap Equity Fund (GVCSE) |
538,769 | 37,903 | ||||||
VIT Growth Opportunities Fund - Service Shares (GVGOPS) |
824,305 | 1,014,325 | ||||||
Goldman Sachs Global Markets Navigator Fund - Service Shares (GVGMNS) |
742 | 9,123 | ||||||
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG) |
3,503,366 | 2,742,163 | ||||||
Baron Growth Opportunities Fund Service Class (BNCAI) |
1,930,781 | 3,980,054 | ||||||
Capital Appreciation Fund/VA - Non-Service Shares (OVGR) |
1,753,518 | 2,178,656 | ||||||
Global Securities Fund/VA - Non-Service Shares (OVGS) |
10,159,670 | 10,312,568 | ||||||
International Growth Fund/VA - Non-Service Shares (OVIG) |
8,819,237 | 1,157,557 | ||||||
Main Street Fund(R)/VA - Non-Service Shares (OVGI) |
5,336,945 | 2,923,957 | ||||||
Main Street Small- & Mid-Cap Fund(R)/VA - Non-Service Shares (OVSC) |
1,036,902 | 1,371,622 | ||||||
Discovery Mid Cap Growth Fund/VA - Non-Service Shares (OVAG) |
2,157,807 | 2,127,629 | ||||||
Global Strategic Income Fund/VA: Non-service Shares (OVSB) |
1,069,842 | 2,643,540 | ||||||
All Asset Portfolio - Administrative Class (PMVAAA) |
4,636,447 | 5,327,115 | ||||||
CommodityRealReturn(R) Strategy Portfolio - Administrative Class (PMVRSA) |
171,040 | 71,613 | ||||||
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA) |
808,983 | 1,473,242 | ||||||
Long-Term U.S. Government Portfolio - Administrative Class (PMVLGA) |
1,087,667 | 2,633,350 | ||||||
Low Duration Portfolio - Administrative Class (PMVLDA) |
11,361,812 | 22,052,380 | ||||||
Real Return Portfolio - Administrative Class (PMVRRA) |
13,899,854 | 29,641,994 | ||||||
Total Return Portfolio - Administrative Class (PMVTRA) |
23,895,612 | 31,023,922 | ||||||
Pioneer Emerging Markets VCT Portfolio - Class I Shares (PIVEMI) |
1,050,642 | 1,355,592 | ||||||
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1) |
1,355,978 | 937,948 | ||||||
VT Growth & Income Fund: Class IB (PVGIB) |
107,111 | 173,264 | ||||||
VT Growth Opportunities Fund: Class IB (PVGOB) |
1,164,462 | 8,902 | ||||||
VT International Equity Fund: Class IB (PVTIGB) |
115,162 | 198,900 | ||||||
VT Small Cap Value Fund: Class IB (PVTSCB) |
326,464 | 298,018 | ||||||
VT Voyager Fund: Class IB (obsolete) (PVTVB) |
151,348 | 1,452,560 | ||||||
VI Growth and Income Fund - Series I Shares (ACGI) |
1,942,561 | 1,285,048 | ||||||
VI American Franchise Fund - Series I Shares (ACEG) |
150,782 | 276,658 | ||||||
VI Value Opportunities Fund - Series I Shares (AVBVI) |
576 | 9,360 | ||||||
VI High Yield Fund - Series I Shares (AVHY1) |
3,094,287 | 3,464,598 | ||||||
VI International Growth Fund - Series I Shares (AVIE) |
9,547,667 | 12,678,662 | ||||||
VI Mid Cap Core Equity Fund: Series I Shares (AVMCCI) |
263,023 | 328,803 | ||||||
VI Small Cap Equity Fund - Series I Shares (AVSCE) |
211,061 | 162,680 | ||||||
Micro-Cap Portfolio - Investment Class (ROCMC) |
1,677,410 | 3,483,659 | ||||||
Variable Fund - Multi-Hedge Strategies (RVARS) |
399,382 | 208,562 | ||||||
Equity Income Portfolio - II (TREI2) |
8,235,204 | 33,268,414 | ||||||
Health Sciences Portfolio - II (TRHS2) |
2,577,904 | 11,214,385 | ||||||
Limited-Term Bond Portfolio (TRLT1) |
13,241,696 | 21,875,216 | ||||||
Mid-Cap Growth Portfolio - II (TRMCG2) |
4,533,758 | 2,267,685 | ||||||
New America Growth Portfolio (TRNAG1) |
10,496,803 | 15,755,283 | ||||||
Personal Strategy Balanced Portfolio (TRPSB1) |
2,327,906 | 2,142,275 | ||||||
Blue Chip Growth Portfolio (TRBCGP) |
16,893,247 | 11,780,362 | ||||||
VIP Trust Emerging Markets Fund - Initial Class (VWEM) |
747,347 | 882,316 | ||||||
VIP Trust Global Hard Assets Fund - Initial Class (VWHA) |
9,203,685 | 10,059,735 | ||||||
Variable Insurance Fund - Balanced Portfolio (VVB) |
1,801,743 | 649,497 | ||||||
Insurance Fund - Capital Growth Portfolio (VVCG) |
2,313,586 | 1,301,797 | ||||||
Variable Insurance Fund - Diversified Value Portfolio (VVDV) |
1,701,431 | 2,380,604 | ||||||
Variable Insurance Fund - International Portfolio (VVI) |
486,759 | 1,580,218 | ||||||
Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI) |
2,863,316 | 3,254,021 | ||||||
Variable Insurance Fund - REIT Index Portfolio (VVREI) |
2,392,705 | 1,495,285 | ||||||
Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC) |
1,117,518 | 674,291 | ||||||
Variable Insurance Fund - Small Company Growth Portfolio (VVSCG) |
805,937 | 505,560 | ||||||
Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB) |
3,721,931 | 1,279,552 | ||||||
Variable Insurance Portfolios - Asset Strategy (WRASP) |
1,109,264 | 7,380,771 | ||||||
Variable Insurance Portfolios - Growth (WRGP) |
3,547,307 | 4,459,108 | ||||||
Variable Insurance Portfolios - High Income (WRHIP) |
6,555,799 | 7,271,248 | ||||||
Variable Insurance Portfolios - Mid Cap Growth (WRMCG) |
1,092,371 | 3,474,089 | ||||||
Variable Insurance Portfolios - Real Estate Securities (WRRESP) |
5,822,130 | 3,458,997 | ||||||
Variable Insurance Portfolios - Science and Technology (WRSTP) |
3,583,453 | 4,728,352 | ||||||
Wells Fargo Variable Trust - VT Discovery Fund: Class 2 (SVDF) |
3,058,906 | 5,113,036 | ||||||
Advantage VT Opportunity Fund - Class 2 (SVOF) |
841,633 | 277,288 | ||||||
Advantage VT Small Cap Growth Fund - Class 2 (WFVSCG) |
1,228,149 | 2,612,788 | ||||||
American Century NVIT Growth Fund - Class I (Obsolete) (CAF) |
1,802,068 | 16,997,552 | ||||||
|
|
|
|
|||||
$ | 1,155,195,606 | $ | 1,028,051,572 | |||||
|
|
|
|
(8) Financial Highlights
The following tabular presentation is a summary of units, unit fair values, contract owners equity outstanding and contract expense rates for variable life contracts as of December 31, 2016, and the investment income ratio and total return for each of the periods in the five year period ended December 31, 2016. Total return and investment income ratio for periods with no ending contract owners equity were considered to be irrelevant, and therefore are not presented.
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VPS Dynamic Asset Allocation Portfolio - Class A (ALVDAA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 2,379 | $ | 12.32 | $ | 29,320 | 0.53% | 3.59% | ||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 5,447 | 11.90 | 64,806 | 0.87% | -1.09% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 3,808 | 12.03 | 45,805 | 0.26% | 4.45% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 15,430 | 11.52 | 177,696 | 0.77% | 12.31% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 7 | 10.25 | 72 | 0.15% | 2.54% | **** | |||||||||||||||||||||||||||||||||||||||||
VP Inflation Protection Fund - Class I (ACVIP1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,956,661 | 10.16 | to | 9.65 | 18,906,113 | 2.18% | 4.71% | to | 4.44% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 592,890 | 9.71 | to | 9.24 | 5,480,549 | 2.52% | -2.28% | to | -2.52% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 89,451 | 9.93 | to | 9.47 | 849,750 | 1.51% | 3.58% | to | 3.32% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 43,953 | 9.18 | to | 9.17 | 403,043 | 1.16% | -8.40% | to | -8.44% | ||||||||||||||||||||||||||||||||||||
Asset Allocation Fund - Class 2 (AMVAA2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 511,756 | 16.20 | to | 15.83 | 8,143,235 | 1.78% | 9.41% | to | 9.14% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 354,629 | 14.80 | to | 14.50 | 5,167,132 | 1.79% | 1.40% | to | 1.15% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 219,500 | 14.60 | to | 14.34 | 3,163,145 | 1.29% | 5.40% | to | 5.13% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 293,121 | 13.85 | to | 13.64 | 4,006,660 | 1.50% | 23.69% | to | 23.38% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 250,210 | 11.20 | to | 11.05 | 2,771,221 | 2.21% | 16.19% | to | 15.90% | ||||||||||||||||||||||||||||||||||||
Bond Fund - Class 2 (AMVBD2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.20% | 5,580,079 | 12.98 | to | 12.75 | 71,783,173 | 1.68% | 2.94% | to | 2.74% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 5,633,226 | 12.61 | to | 12.35 | 70,464,503 | 1.69% | 0.27% | to | 0.02% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 5,686,802 | 12.58 | to | 12.35 | 71,011,198 | 6.95% | 5.28% | to | 5.02% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 6,226 | 11.95 | to | 11.76 | 74,024 | 1.11% | -2.16% | to | -2.40% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 19,064 | 12.21 | to | 12.05 | 232,400 | 1.94% | 5.37% | to | 5.11% | ||||||||||||||||||||||||||||||||||||
Global Small Capitalization Fund - Class 2 (AMVGS2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 103,367 | 12.77 | to | 12.49 | 1,294,587 | 0.25% | 2.10% | to | 1.84% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 125,623 | 12.51 | to | 12.27 | 1,544,166 | 0.00% | 0.27% | to | 0.02% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 204,209 | 12.48 | to | 12.26 | 2,511,188 | 0.12% | 2.12% | to | 1.87% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 202,172 | 12.22 | to | 12.04 | 2,439,091 | 0.98% | 28.28% | to | 27.96% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 176,306 | 9.53 | to | 9.41 | 1,663,017 | 1.28% | 18.18% | to | 17.88% | ||||||||||||||||||||||||||||||||||||
Growth Fund - Class 2 (AMVGR2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,038,111 | 17.38 | to | 16.99 | 17,654,348 | 0.78% | 9.49% | to | 9.21% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,120,259 | 15.87 | to | 15.56 | 17,442,134 | 0.52% | 6.86% | to | 6.59% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,698,415 | 14.85 | to | 14.59 | 24,825,384 | 0.80% | 8.51% | to | 8.24% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,752,402 | 13.69 | to | 13.48 | 23,660,929 | 0.96% | 30.10% | to | 29.78% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 1,723,465 | 10.42 | to | 10.39 | 17,928,302 | 0.83% | 17.65% | to | 17.60% | ||||||||||||||||||||||||||||||||||||
International Fund - Class 2 (AMVI2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 574,103 | 10.84 | to | 10.68 | 6,141,890 | 1.46% | 3.53% | to | 3.27% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 506,463 | 10.47 | to | 10.35 | 5,243,130 | 1.60% | -4.53% | to | -4.76% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 430,497 | 10.96 | to | 10.86 | 4,678,454 | 1.59% | -2.65% | to | -2.90% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 312,711 | 11.26 | to | 11.19 | 3,499,457 | 1.63% | 21.63% | to | 21.33% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 210,084 | 9.26 | to | 9.22 | 1,937,447 | 2.11% | 17.91% | to | 17.61% | ||||||||||||||||||||||||||||||||||||
New World Fund - Class 2 (AMVNW2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 36,783 | 10.40 | to | 10.39 | 382,165 | 1.16% | 4.03% | to | 3.86% | **** | |||||||||||||||||||||||||||||||||||
Variable Series Funds, Inc. - BlackRock High Yield V.I. Fund- Class I (BRVHYI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 468,168 | 10.59 | to | 10.53 | 4,940,997 | 5.47% | 12.92% | to | 12.64% | ||||||||||||||||||||||||||||||||||||
2015 | 0.10% | to | 0.25% | 397,942 | 9.37 | to | 9.35 | 3,724,985 | 4.71% | -3.70% | to | -3.84% | ||||||||||||||||||||||||||||||||||||
2014 | 0.25% | 51,392 | 9.72 | 499,545 | 1.36% | -2.80% | **** | |||||||||||||||||||||||||||||||||||||||||
Large Cap Core V.I. Fund - Class II (MLVLC2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 76,545 | 22.35 | to | 21.71 | 1,663,555 | 0.99% | 10.41% | to | 10.13% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 97,677 | 20.24 | to | 19.71 | 1,927,425 | 0.60% | 0.34% | to | 0.09% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 145,570 | 20.18 | to | 19.69 | 2,885,881 | 0.79% | 12.19% | to | 11.91% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 154,703 | 17.98 | to | 17.60 | 2,736,351 | 0.97% | 33.32% | to | 32.99% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 182,994 | 13.49 | to | 13.23 | 2,428,694 | 1.38% | 12.59% | to | 12.30% | ||||||||||||||||||||||||||||||||||||
Global Allocation V.I. Fund - Class II (MLVGA2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 530,848 | 17.10 | 9,079,551 | 1.09% | 3.96% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 588,721 | 16.45 | 9,686,094 | 0.95% | -0.87% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 665,128 | 16.60 | 11,039,090 | 2.12% | 1.97% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 640,899 | 16.28 | 10,431,814 | 1.07% | 14.55% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 680,130 | 14.21 | 9,664,120 | 1.57% | 10.14% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VP S&P 500 Index Portfolio (CVSPIP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.25% | 57,324 | 12.37 | 709,205 | 1.43% | 11.30% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.25% | 49,793 | 11.12 | 553,494 | 0.07% | 0.73% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.10% | 40,910 | 11.05 | 451,933 | 3.55% | 10.47% | **** | |||||||||||||||||||||||||||||||||||||||||
Value Portfolio (DAVVL) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 243,210 | 15.08 | to | 14.74 | 3,623,452 | 1.51% | 11.88% | to | 11.60% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 187,283 | 13.48 | to | 13.21 | 2,503,302 | 0.78% | 1.60% | to | 1.34% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 219,468 | 13.27 | to | 13.03 | 2,888,623 | 0.94% | 6.06% | to | 5.79% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 214,206 | 12.51 | to | 12.32 | 2,664,799 | 0.81% | 33.43% | to | 33.09% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 298,582 | 9.38 | to | 9.25 | 2,782,221 | 1.78% | 13.08% | to | 12.80% | ||||||||||||||||||||||||||||||||||||
VIP Emerging Markets Series: Service Class (DWVEMS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 308,163 | 10.14 | to | 10.02 | 3,089,001 | 0.73% | 13.68% | to | 13.40% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 231,836 | 8.85 | to | 8.84 | 2,049,470 | 0.53% | -14.94% | to | -14.99% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 110,505 | 10.46 | to | 10.39 | 1,148,980 | 0.38% | -8.26% | to | -8.49% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 37,049 | 11.41 | to | 11.36 | 420,861 | 0.19% | 9.86% | to | 9.58% | ||||||||||||||||||||||||||||||||||||
VIP Small Cap Value Series: Service Class (DWVSVS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,068,310 | 17.66 | to | 17.41 | 18,632,616 | 0.71% | 31.08% | to | 30.76% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 980,158 | 13.47 | to | 13.31 | 13,060,799 | 0.50% | -6.46% | to | -6.70% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,035,605 | 14.40 | to | 14.27 | 14,786,804 | 0.29% | 5.62% | to | 5.35% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 804,104 | 13.63 | to | 13.54 | 10,896,188 | 0.55% | 33.17% | to | 32.84% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 391,672 | 10.24 | to | 10.20 | 3,994,444 | 0.21% | 13.63% | to | 13.35% | ||||||||||||||||||||||||||||||||||||
VA Inflation-Protected Securities Portfolio (DFVIPS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 520,430 | 9.98 | to | 9.84 | 5,121,644 | 2.57% | -0.19% | to | -1.63% | **** | |||||||||||||||||||||||||||||||||||
VA International Small Portfolio (DFVIS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 85,815 | 10.22 | to | 10.22 | 877,242 | 2.28% | 6.02% | to | 5.97% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 105,953 | 9.64 | to | 9.64 | 1,021,665 | 2.07% | -3.56 | to | -3.60% | **** | |||||||||||||||||||||||||||||||||||
VA U.S. Targeted Value Portfolio (DFVUTV) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 239,703 | 11.64 | to | 11.63 | 2,789,935 | 1.09% | 27.24% | to | 27.17% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 215,294 | 9.15 | to | 9.15 | 1,969,559 | 1.32% | -8.51% | to | -8.54% | **** | |||||||||||||||||||||||||||||||||||
Stock Index Fund, Inc. - Initial Shares (DSIF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 19,688,978 | 31.44 | to | 21.64 | 478,455,050 | 2.03% | 11.71% | to | 11.43% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 19,872,339 | 28.15 | to | 19.42 | 433,286,156 | 1.84% | 1.11% | to | 0.85% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 19,703,250 | 27.84 | to | 19.25 | 428,953,663 | 1.78% | 13.42% | to | 13.14% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 18,495,758 | 24.54 | to | 17.02 | 359,230,963 | 1.87% | 32.03% | to | 31.70% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 18,671,915 | 18.59 | to | 12.92 | 275,529,192 | 2.05% | 15.74% | to | 15.45% | ||||||||||||||||||||||||||||||||||||
Socially Responsible Growth Fund Inc - Initial Shares (DSRG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 461,676 | 24.91 | to | 16.00 | 11,294,775 | 1.28% | 10.37% | to | 10.10% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 503,710 | 22.57 | to | 14.53 | 11,176,410 | 1.06% | -3.19% | to | -3.44% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 579,590 | 23.32 | to | 15.05 | 13,108,017 | 1.04% | 13.45% | to | 13.17% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 609,225 | 20.55 | to | 13.30 | 12,228,151 | 1.23% | 34.34% | to | 34.01% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 657,466 | 15.30 | to | 9.93 | 9,812,092 | 0.80% | 11.97% | to | 11.69% | ||||||||||||||||||||||||||||||||||||
Global Income Builder VIP - Class A (DSGIBA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 2,350 | 10.41 | 24,457 | 0.00% | 4.07% | **** | |||||||||||||||||||||||||||||||||||||||||
Floating-Rate Income Fund (ETVFR) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 5,996,803 | 12.06 | to | 11.89 | 71,736,301 | 3.48% | 8.95% | to | 8.67% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 5,769,523 | 11.07 | to | 10.94 | 63,451,455 | 3.33% | -0.99% | to | -1.24% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 6,022,601 | 11.18 | to | 11.08 | 66,999,384 | 3.22% | 0.57% | to | 0.32% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,302,534 | 11.12 | to | 11.04 | 25,512,559 | 3.51% | 3.85% | to | 3.59% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 1,438,087 | 10.69 | to | 10.66 | 15,367,260 | 3.38% | 7.22% | to | 7.06% | ||||||||||||||||||||||||||||||||||||
Franklin Income Securities Fund - Class 2 (FTVIS2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 369,466 | 18.22 | 6,732,869 | 5.10% | 14.02% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 377,928 | 15.98 | 6,040,094 | 4.68% | -7.05% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 390,265 | 17.20 | 6,710,629 | 4.91% | 4.62% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 391,706 | 16.44 | 6,438,224 | 6.32% | 13.94% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 397,235 | 14.43 | 5,730,247 | 6.26% | 12.65% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Rising Dividends Securities Fund - Class 1 (FTVRDI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 517,880 | 32.12 | 16,634,002 | 1.58% | 16.33% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 570,589 | 27.61 | 15,754,609 | 1.64% | -3.42% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 599,977 | 28.59 | 17,151,918 | 1.53% | 9.01% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 706,879 | 26.23 | 18,538,455 | 1.74% | 30.05% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 689,703 | 20.17 | 13,908,387 | 1.82% | 12.18% | ||||||||||||||||||||||||||||||||||||||||||
Small Cap Value Securities Fund - Class 1 (FTVSVI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 245,509 | 44.29 | 10,874,493 | 1.03% | 30.54% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 255,164 | 33.93 | 8,658,290 | 0.91% | -7.18% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 292,511 | 36.56 | 10,693,748 | 0.83% | 0.88% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 314,978 | 36.24 | 11,414,310 | 1.50% | 36.50% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 363,138 | 26.55 | 9,640,363 | 1.03% | 18.75% | ||||||||||||||||||||||||||||||||||||||||||
Small Cap Value Securities Fund - Class 2 (FTVSV2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 416,003 | 27.11 | to | 26.33 | 10,975,714 | 0.81% | 30.19% | to | 29.86% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 436,021 | 20.83 | to | 20.28 | 8,856,820 | 0.65% | -7.39% | to | -7.62% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 512,783 | 22.49 | to | 21.95 | 11,301,870 | 0.63% | 0.57% | to | 0.32% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 465,556 | 22.36 | to | 21.88 | 10,229,704 | 1.33% | 36.24% | to | 35.90% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 404,795 | 16.41 | to | 16.10 | 6,539,867 | 0.80% | 18.39% | to | 18.09% | ||||||||||||||||||||||||||||||||||||
Mutual Global Discovery Securities Fund - Class 2 (FTVMD2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 136,852 | 15.90 | to | 15.54 | 2,163,040 | 1.69% | 12.18% | to | 11.90% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 147,343 | 14.17 | to | 13.89 | 2,077,541 | 3.80% | -3.65% | to | -3.89% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 32,122 | 14.71 | to | 14.45 | 464,392 | 2.43% | 5.71% | to | 5.44% | ||||||||||||||||||||||||||||||||||||
2013 | 0.25% | 20,950 | 13.71 | 287,147 | 2.67% | 27.30% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.25% | 13,771 | 10.77 | 148,276 | 1.98% | 13.07% | ||||||||||||||||||||||||||||||||||||||||||
Templeton Developing Markets Securities Fund - Class 2 (FTVDM2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 271,041 | 8.90 | 2,413,106 | 0.80% | 17.44% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 285,175 | 7.58 | 2,161,899 | 2.16% | -19.60% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 338,402 | 9.43 | 3,190,883 | 1.50% | -5.71% | **** | |||||||||||||||||||||||||||||||||||||||||
Templeton Foreign Securities Fund - Class 1 (TIF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 38,500 | 25.74 | 990,896 | 2.16% | 7.49% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 42,432 | 23.94 | 1,016,000 | 3.58% | -6.31% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 48,081 | 25.56 | 1,228,764 | 2.07% | -10.89% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 53,511 | 28.68 | 1,534,588 | 2.56% | 23.27% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 58,522 | 23.26 | 1,361,447 | 3.25% | 18.60% | ||||||||||||||||||||||||||||||||||||||||||
Templeton Foreign Securities Fund - Class 2 (TIF2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,063,433 | 23.54 | to | 22.71 | 24,424,763 | 1.95% | 7.18% | to | 6.91% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,146,428 | 21.96 | to | 21.24 | 24,618,620 | 3.22% | -6.49% | to | -6.73% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,087,231 | 23.49 | to | 22.77 | 25,006,807 | 1.97% | -11.13% | to | -11.35% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 642,739 | 26.13 | to | 25.69 | 16,554,377 | 2.30% | 22.85% | to | 22.66% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 628,537 | 21.27 | to | 20.94 | 13,199,367 | 3.00% | 18.11% | to | 17.94% | ||||||||||||||||||||||||||||||||||||
Templeton Global Bond Securities Fund - Class 2 (FTVGI2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 457,762 | 17.09 | to | 16.70 | 7,800,411 | 0.00% | 2.94% | to | 2.68% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 662,999 | 16.60 | to | 16.26 | 10,987,604 | 7.60% | -4.30% | to | -4.54% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 774,609 | 17.35 | to | 17.04 | 13,406,161 | 3.71% | 1.83% | to | 1.58% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,511,603 | 17.04 | to | 16.77 | 42,440,610 | 4.74% | 1.63% | to | 1.38% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,363,034 | 16.77 | to | 16.55 | 39,360,480 | 5.98% | 15.07% | to | 14.78% | ||||||||||||||||||||||||||||||||||||
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 44,251 | 14.67 | 649,006 | 3.82% | 13.18% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 51,295 | 12.96 | 664,708 | 2.92% | -6.21% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 53,635 | 13.82 | 741,071 | 2.78% | 2.85% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 50,080 | 13.43 | 672,789 | 11.86% | 23.77% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 35,375 | 10.85 | 383,969 | 2.65% | 15.33% | ||||||||||||||||||||||||||||||||||||||||||
VIP Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,451,430 | 11.12 | to | 9.93 | 14,597,838 | 0.00% | 3.21% | to | 2.95% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,372,392 | 10.78 | to | 9.65 | 13,399,403 | 7.61% | -4.10% | to | -4.34% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,178,165 | 11.24 | to | 10.08 | 11,985,782 | 4.04% | 2.12% | to | 0.85% | **** |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Van Kampen V.I. Mid Cap Growth Fund - Series I Shares (IVKMG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 228,597 | 14.83 | to | 14.66 | 3,383,296 | 0.00% | 0.76% | to | 0.50% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 345,418 | 14.72 | to | 14.59 | 5,068,137 | 0.00% | 1.21% | to | 0.95% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 341,263 | 14.55 | to | 14.45 | 4,953,394 | 0.00% | 8.04% | to | 7.77% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 321,052 | 13.47 | to | 13.41 | 4,317,352 | 0.41% | 37.01% | to | 36.67% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 341,791 | 9.83 | to | 9.81 | 3,357,388 | 0.00% | -1.72% | to | -1.89% | **** | |||||||||||||||||||||||||||||||||||
Balanced-Risk Allocation Fund: Series I Shares (IVBRA1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 134,610 | 11.04 | 1,486,483 | 0.47% | 11.64% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 62,732 | 9.89 | 620,517 | 4.97% | -4.10% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 38,475 | 10.31 | 396,848 | 0.00% | 3.14% | **** | |||||||||||||||||||||||||||||||||||||||||
Mid Cap Value Portfolio: Class 1 (JPMMV1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,056,953 | 32.80 | to | 31.78 | 33,768,491 | 0.66% | 14.69% | to | 14.41% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 573,578 | 28.60 | to | 27.77 | 16,060,386 | 0.94% | -2.66% | to | -2.90% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 372,474 | 29.38 | to | 28.60 | 10,699,926 | 0.71% | 15.11% | to | 14.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 258,597 | 25.52 | to | 24.91 | 6,466,290 | 0.96% | 32.30% | to | 31.97% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 99,517 | 19.29 | to | 18.88 | 1,885,985 | 0.28% | 20.38% | to | 20.08% | ||||||||||||||||||||||||||||||||||||
Small Cap Core Portfolio 1 (JPSCE1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.25% | 9,466 | 11.10 | 105,109 | 0.47% | 19.91% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.25% | 4,684 | 9.26 | 43,373 | 0.00% | -7.40% | **** | |||||||||||||||||||||||||||||||||||||||||
Balanced Portfolio: Service Shares (JABS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,000,252 | 28.86 | to | 27.84 | 28,132,139 | 1.98% | 4.32% | to | 4.06% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 947,970 | 27.66 | to | 26.76 | 25,570,430 | 1.68% | 0.41% | to | 0.16% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 933,751 | 27.55 | to | 26.71 | 25,164,067 | 1.54% | 8.24% | to | 7.97% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 821,725 | 25.45 | to | 24.74 | 20,512,662 | 2.01% | 19.80% | to | 19.50% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 703,225 | 21.24 | to | 20.70 | 14,705,391 | 2.66% | 13.37% | to | 13.09% | ||||||||||||||||||||||||||||||||||||
Enterprise Portfolio: Service Shares (JAMGS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 457,212 | 10.79 | to | 10.77 | 4,926,666 | 0.40% | 7.90% | to | 7.72% | **** | |||||||||||||||||||||||||||||||||||
Flexible Bond Portfolio: Service Shares (JAFBS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,347,630 | 10.32 | to | 10.26 | 13,834,191 | 2.43% | 2.22% | to | 1.97% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,234,000 | 10.09 | to | 10.06 | 12,417,813 | 2.23% | -0.06% | to | -0.31% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 435,927 | 10.09 | 4,399,676 | 1.29% | 0.92% | **** | |||||||||||||||||||||||||||||||||||||||
Forty Portfolio: Service Shares (JACAS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,996,099 | 20.83 | to | 19.97 | 41,096,683 | 0.88% | 1.94% | to | 1.69% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,232,703 | 20.43 | to | 19.63 | 45,096,682 | 1.25% | 11.94% | to | 11.66% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,473,108 | 18.25 | to | 17.58 | 44,660,750 | 0.03% | 8.47% | to | 8.20% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,806,731 | 16.83 | to | 16.25 | 46,697,005 | 0.59% | 30.89% | to | 30.56% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 3,302,617 | 12.86 | to | 12.45 | 42,001,099 | 0.55% | 23.86% | to | 23.55% | ||||||||||||||||||||||||||||||||||||
Global Technology Portfolio: Service Shares (JAGTS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,367,724 | 11.03 | to | 10.57 | 14,991,999 | 0.09% | 13.85% | to | 13.57% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,452,572 | 9.69 | to | 9.31 | 14,007,986 | 0.81% | 4.65% | to | 4.38% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,666,220 | 9.26 | to | 8.92 | 15,350,042 | 0.00% | 9.35% | to | 9.07% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,724,013 | 8.47 | to | 8.18 | 14,513,340 | 0.00% | 35.39% | to | 35.05% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,913,179 | 6.25 | to | 6.06 | 11,896,992 | 0.00% | 19.15% | to | 18.85% | ||||||||||||||||||||||||||||||||||||
Overseas Portfolio: Service Shares (JAIGS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,506,768 | 13.02 | to | 12.48 | 19,431,410 | 5.11% | -6.71% | to | -6.94% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,556,610 | 13.95 | to | 13.41 | 21,561,467 | 0.48% | -8.80% | to | -9.03% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,927,784 | 15.30 | to | 14.74 | 29,256,435 | 5.77% | -12.10% | to | -12.32% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,331,866 | 17.41 | to | 16.81 | 40,211,611 | 3.05% | 14.28% | to | 14.00% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,835,962 | 15.23 | to | 14.75 | 42,805,297 | 0.69% | 13.18% | to | 12.90% | ||||||||||||||||||||||||||||||||||||
Perkins Mid Cap Value Portfolio: Service Shares (JAMVS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 82,367 | 17.60 | to | 17.31 | 1,432,096 | 0.82% | 18.76% | to | 18.47% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 135,681 | 14.82 | to | 14.61 | 1,988,712 | 1.06% | -3.69% | to | -3.93% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 128,064 | 15.39 | to | 15.21 | 1,952,405 | 3.38% | 8.44% | to | 8.17% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 135,589 | 14.19 | to | 14.06 | 1,908,778 | 1.00% | 25.81% | to | 25.49% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 189,721 | 11.28 | to | 11.21 | 2,127,531 | 0.89% | 10.79% | to | 10.51% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Retirement Emerging Markets Equity Portfolio - Service Shares (LZREMS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,028,245 | 10.38 | to | 10.21 | 31,006,169 | 1.04% | 20.78% | to | 20.48% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,088,800 | 8.59 | to | 8.47 | 26,233,081 | 1.29% | -20.05% | to | -20.25% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,531,668 | 10.75 | to | 10.62 | 26,936,682 | 1.81% | -4.64% | to | -4.87% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,130,245 | 11.27 | to | 11.17 | 23,822,313 | 1.47% | -1.24% | to | -1.49% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,981,197 | 11.41 | to | 11.34 | 22,485,704 | 1.71% | 22.05% | to | 21.75% | ||||||||||||||||||||||||||||||||||||
Lord Abbett Series Fund Inc. - Bond Debenture Portfolio: Class VC (LOVBD) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 226,991 | 11.11 | to | 11.09 | 2,518,441 | 5.09% | 11.91% | to | 11.85% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 30,871 | 9.93 | to | 9.92 | 306,229 | 8.70% | -1.73% | to | -1.78% | ||||||||||||||||||||||||||||||||||||
Lord Abbett Series Fund Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 5,533 | 21.96 | to | 21.33 | 118,289 | 0.51% | 16.39% | to | 16.10% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 5,441 | 18.87 | to | 18.37 | 100,210 | 0.10% | -3.79% | to | -4.03% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 57,274 | 19.61 | to | 19.15 | 1,101,297 | 0.34% | 11.53% | to | 11.25% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 84,220 | 17.59 | to | 17.21 | 1,455,733 | 0.44% | 30.32% | to | 29.99% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 83,197 | 13.49 | to | 13.24 | 1,106,163 | 0.77% | 14.54% | to | 14.26% | ||||||||||||||||||||||||||||||||||||
Series Fund, Inc. - Total Return Portfolio - Class VC (LOVTRC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,122,526 | 10.24 | to | 10.20 | 11,458,058 | 3.23% | 4.26% | to | 4.00% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 696,348 | 9.82 | to | 9.81 | 6,830,955 | 6.21% | -1.76% | to | -1.93% | **** | |||||||||||||||||||||||||||||||||||
Lord Abbett Series Fund Inc. - Short Duration Income Portfolio: Class VC (LOVSDC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 1,181,419 | 10.14 | to | 10.14 | 11,980,773 | 4.09% | 1.44% | to | 1.40% | **** | |||||||||||||||||||||||||||||||||||
VIT II - MFS Blended Research Core Equity Portfolio- Service Class (MVBRES) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 56,347 | 11.98 | to | 11.96 | 673,978 | 1.20% | 7.96% | to | 7.91% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 74,067 | 11.09 | to | 11.08 | 821,115 | 2.15% | 0.67% | to | 0.62% | ||||||||||||||||||||||||||||||||||||
Var Insurance Trust II - MFS Investors Growth Stock Portfolio: Initial Class (MV2IGI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 271,340 | 10.46 | 2,837,846 | 0.60% | 6.08% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 297,791 | 9.86 | 2,936,113 | 0.50% | -1.40% | **** | |||||||||||||||||||||||||||||||||||||||||
Var Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 287,386 | 9.05 | 2,599,441 | 1.34% | -1.16% | ||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 310,021 | 9.17 | to | 9.15 | 2,837,301 | 1.83% | -8.31% | to | -8.49% | **** | |||||||||||||||||||||||||||||||||||
Variable Insurance Trust - MFS New Discovery Series - Intital Class (MNDIC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 23,315 | 14.51 | 338,410 | 0.00% | 9.05% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 30,567 | 13.31 | 406,846 | 0.00% | -1.89% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 39,384 | 13.57 | 534,273 | 0.00% | -7.26% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 54,531 | 14.63 | 797,640 | 0.00% | 41.52% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 7,796 | 10.34 | 80,579 | 0.00% | 3.36% | **** | |||||||||||||||||||||||||||||||||||||||||
New Discovery Series - Service Class (MNDSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 5,578 | 14.22 | to | 14.18 | 79,121 | 0.00% | 8.58% | to | 8.53% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 27,229 | 13.19 | to | 13.07 | 356,357 | 0.00% | -2.15% | to | -2.39% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 81,742 | 13.48 | to | 13.39 | 1,095,280 | 0.00% | -7.49% | to | -7.72% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 148,553 | 14.57 | to | 14.51 | 2,155,892 | 0.00% | 41.22% | to | 40.86% | ||||||||||||||||||||||||||||||||||||
2012 | 0.25% | 65,112 | 10.30 | 670,683 | 0.00% | 3.00% | **** | |||||||||||||||||||||||||||||||||||||||||
Value Series - Initial Class (MVFIC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 332,771 | 36.04 | 11,991,713 | 2.16% | 14.09% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 313,122 | 31.59 | 9,890,222 | 2.29% | -0.74% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 314,764 | 31.82 | 10,015,870 | 1.51% | 10.51% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 368,819 | 28.79 | 10,619,793 | 1.21% | 35.89% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 394,370 | 21.19 | 8,356,622 | 1.70% | 16.26% | ||||||||||||||||||||||||||||||||||||||||||
Value Series - Service Class (MVFSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,786,227 | 17.49 | to | 17.09 | 64,920,421 | 2.00% | 13.78% | to | 13.49% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,395,774 | 15.38 | to | 15.06 | 36,194,371 | 2.12% | -0.93% | to | -1.18% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,817,807 | 15.52 | to | 15.24 | 27,779,416 | 1.33% | 10.20% | to | 9.93% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,108,924 | 14.08 | to | 13.86 | 29,309,020 | 1.02% | 35.59% | to | 35.26% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,084,955 | 10.39 | to | 10.25 | 21,406,037 | 1.48% | 15.88% | to | 15.59% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Trust II - MFS International Value Portfolio - Service Class (MVIVSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,598,366 | 23.27 | to | 22.83 | 82,415,948 | 1.15% | 3.84% | to | 3.58% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,393,304 | 22.41 | to | 22.04 | 74,992,713 | 1.81% | 6.32% | to | 6.05% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,912,540 | 21.07 | to | 20.78 | 60,625,656 | 1.84% | 1.13% | to | 0.88% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,760,169 | 20.84 | to | 20.60 | 56,931,951 | 1.39% | 27.63% | to | 27.31% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,528,785 | 16.33 | to | 16.18 | 40,955,451 | 1.59% | 15.93% | to | 15.64% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Core Plus Fixed Income Portfolio - Class I (MSVFI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 118,983 | 16.83 | 2,002,670 | 2.08% | 6.11% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 101,355 | 15.86 | 1,607,721 | 3.38% | -0.65% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 107,604 | 15.97 | 1,718,027 | 2.84% | 7.85% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 119,123 | 14.80 | 1,763,427 | 3.52% | -0.32% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 159,977 | 14.85 | 2,375,733 | 4.54% | 9.44% | ||||||||||||||||||||||||||||||||||||||||||
Emerging Markets Debt Portfolio - Class I (MSEM) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 507,033 | 36.45 | to | 35.05 | 21,693,860 | 6.88% | 10.55% | to | 10.28% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 826,783 | 32.97 | to | 31.78 | 33,218,941 | 5.22% | -1.12% | to | -1.36% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 955,142 | 33.35 | to | 32.22 | 38,169,060 | 5.48% | 2.93% | to | 2.67% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 985,279 | 32.40 | to | 31.39 | 38,132,292 | 4.05% | -8.75% | to | -8.98% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 977,094 | 35.50 | to | 34.48 | 41,041,916 | 2.86% | 17.96% | to | 17.67% | ||||||||||||||||||||||||||||||||||||
Global Real Estate Portfolio - Class II (VKVGR2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 422,599 | 11.76 | to | 11.49 | 4,870,267 | 1.40% | 3.12% | to | 2.86% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 471,131 | 11.40 | to | 11.17 | 5,270,760 | 2.30% | -1.42% | to | -1.66% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 421,696 | 11.57 | to | 11.36 | 4,797,159 | 0.69% | 13.85% | to | 13.57% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 290,891 | 10.16 | to | 10.00 | 2,913,382 | 3.58% | 2.63% | to | 2.38% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 242,254 | 9.90 | to | 9.77 | 2,370,646 | 0.54% | 29.94% | to | 29.62% | ||||||||||||||||||||||||||||||||||||
Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio- Class I (MSVMG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 372,666 | 15.50 | to | 14.86 | 5,557,051 | 0.00% | -8.78% | to | -9.01% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 561,751 | 16.99 | to | 16.34 | 9,220,353 | 0.00% | -5.90% | to | -6.13% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 758,843 | 18.05 | to | 17.40 | 13,267,348 | 0.00% | 1.97% | to | 1.71% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 785,039 | 17.71 | to | 17.11 | 13,482,809 | 0.37% | 37.49% | to | 37.14% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 900,392 | 12.88 | to | 12.48 | 11,269,895 | 0.00% | 8.69% | to | 8.42% | ||||||||||||||||||||||||||||||||||||
Universal Institutional Funds, Inc. - Growth Portfolio - Class I (MSVEG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 81,298 | 20.08 | to | 19.62 | 1,601,538 | 0.00% | -1.64% | to | -1.88% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 69,285 | 20.41 | to | 20.00 | 1,390,107 | 0.00% | 12.24% | to | 11.96% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 71,574 | 18.19 | to | 17.86 | 1,280,698 | 0.00% | 6.36% | to | 6.09% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 93,010 | 17.10 | to | 16.83 | 1,566,998 | 0.53% | 48.07% | to | 47.70% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 135,128 | 11.55 | to | 11.40 | 1,540,514 | 0.00% | 14.38% | to | 14.09% | ||||||||||||||||||||||||||||||||||||
U.S. Real Estate Portfolio - Class I (MSVRE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.10% | to | 0.25% | 338,494 | 64.16 | to | 51.21 | 18,264,129 | 1.38% | 6.71% | to | 6.55% | ||||||||||||||||||||||||||||||||||||
2015 | 0.10% | to | 0.25% | 402,965 | 60.13 | to | 48.07 | 20,329,045 | 1.35% | 2.07% | to | 1.92% | ||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 417,956 | 58.91 | to | 47.16 | 20,424,278 | 1.39% | 29.59% | to | 29.40% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 453,779 | 45.46 | to | 36.45 | 16,994,730 | 1.13% | 1.95% | to | 1.80% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 660,510 | 44.59 | to | 35.80 | 24,416,983 | 0.84% | 15.72% | to | 15.55% | ||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Managed Growth and Income Class I (IDPGI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 77 | 10.47 | 806 | 12.37% | 5.94% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 1 | 10.20 | 10 | 2.52% | 1.96% | **** | |||||||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Managed Growth Class I (IDPG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 4,397 | 9.77 | 42,952 | 1.83% | -3.71% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Cardinal Managed Growth and Income Class I (NCPGI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 78 | 10.31 | 804 | 0.88% | 5.74% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Cardinal Managed Growth Class I (NCPG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 4,715 | 10.23 | 48,251 | 3.18% | 6.40% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 4,610 | 9.62 | 44,339 | 1.34% | -4.62% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 4,296 | 10.08 | 43,319 | 3.21% | 0.84% | **** | |||||||||||||||||||||||||||||||||||||||||
NVIT Bond Index Fund Class I (NVBX) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 9,423,378 | 10.53 | to | 10.46 | 98,726,317 | 2.31% | 2.26% | to | 2.01% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 9,294,873 | 10.29 | to | 10.25 | 95,391,912 | 2.32% | 0.14% | to | -0.11% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 5,645,631 | 10.28 | to | 10.26 | 57,954,008 | 3.92% | 2.78% | to | 2.61% | **** | |||||||||||||||||||||||||||||||||||
NVIT International Index Fund Class I (NVIX) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,805,657 | 9.19 | to | 9.13 | 25,664,925 | 3.07% | 0.92% | to | 0.67% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,225,659 | 9.11 | to | 9.07 | 20,212,790 | 3.36% | -0.96% | to | -1.21% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,245,179 | 9.20 | to | 9.18 | 11,440,668 | 2.49% | -8.01% | to | -8.16% | **** |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 1,455,365 | 28.30 | 41,186,313 | 2.38% | 20.44% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 1,546,350 | 23.50 | 36,335,010 | 2.39% | -4.28% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 1,667,165 | 24.55 | 40,923,361 | 2.00% | 13.12% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 1,832,139 | 21.70 | 39,757,407 | 1.86% | 31.90% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 1,980,422 | 16.45 | 32,582,111 | 0.98% | 14.66% | ||||||||||||||||||||||||||||||||||||||||||
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 511,729 | 18.10 | 9,262,950 | 1.92% | 9.00% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 519,808 | 16.61 | 8,632,339 | 1.42% | 0.98% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 490,736 | 16.44 | 8,070,122 | 0.95% | 4.99% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 487,528 | 15.66 | 7,636,273 | 1.31% | 23.28% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 477,179 | 12.70 | 6,062,552 | 1.36% | 15.72% | ||||||||||||||||||||||||||||||||||||||||||
American Funds NVIT Bond Fund - Class II (GVABD2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 101,604 | 13.52 | 1,373,217 | 2.37% | 2.65% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 113,914 | 13.17 | 1,499,841 | 1.36% | -0.23% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 117,093 | 13.20 | 1,545,265 | 1.22% | 4.98% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 122,305 | 12.57 | 1,537,507 | 1.67% | -2.57% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 158,000 | 12.90 | 2,038,705 | 2.20% | 4.97% | ||||||||||||||||||||||||||||||||||||||||||
American Funds NVIT Global Growth Fund - Class II (GVAGG2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 393,395 | 18.57 | 7,303,931 | 1.45% | 0.19% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 426,191 | 18.53 | 7,898,072 | 0.69% | 6.54% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 375,662 | 17.39 | 6,534,147 | 0.70% | 1.84% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 394,540 | 17.08 | 6,738,800 | 0.39% | 28.64% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 374,929 | 13.28 | 4,978,082 | 0.87% | 22.09% | ||||||||||||||||||||||||||||||||||||||||||
American Funds NVIT Growth Fund - Class II (GVAGR2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 505,916 | 19.31 | 9,767,654 | 0.22% | 9.06% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 539,000 | 17.70 | 9,541,628 | 0.71% | 6.43% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 582,797 | 16.63 | 9,693,899 | 0.44% | 8.07% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 660,438 | 15.39 | 10,165,319 | 0.32% | 29.61% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 656,818 | 11.88 | 7,800,019 | 0.21% | 17.40% | ||||||||||||||||||||||||||||||||||||||||||
American Funds NVIT Growth-Income Fund - Class II (GVAGI2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 195,828 | 16.74 | 3,277,768 | 1.12% | 11.09% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 198,459 | 15.07 | 2,990,282 | 0.84% | 1.09% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 223,749 | 14.91 | 3,335,091 | 0.79% | 10.23% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 235,408 | 13.52 | 3,183,307 | 0.98% | 32.97% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 247,986 | 10.17 | 2,521,961 | 1.05% | 17.06% | ||||||||||||||||||||||||||||||||||||||||||
Federated NVIT High Income Bond Fund - Class I (HIBF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 764,369 | 29.25 | to | 28.90 | 22,163,019 | 5.76% | 14.16% | to | 13.87% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 792,106 | 25.62 | to | 25.38 | 20,149,457 | 5.47% | -2.61% | to | -2.85% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 816,154 | 26.31 | to | 26.13 | 21,289,529 | 5.48% | 2.55% | to | 2.29% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 679,469 | 25.66 | to | 25.54 | 17,286,424 | 6.14% | 7.07% | to | 6.80% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 891,109 | 23.96 | to | 23.91 | 21,088,404 | 8.24% | 14.56% | to | 14.27% | ||||||||||||||||||||||||||||||||||||
NVIT Emerging Markets Fund - Class I (GEM) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 533,999 | 23.17 | to | 22.25 | 12,233,957 | 0.82% | 7.72% | to | 7.45% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 532,848 | 21.51 | to | 20.71 | 11,336,532 | 0.85% | -15.99% | to | -16.20% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 557,428 | 25.61 | to | 24.71 | 14,127,165 | 1.22% | -5.51% | to | -5.74% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 347,886 | 27.10 | to | 26.22 | 9,214,541 | 1.10% | 0.75% | to | 0.49% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 443,026 | 26.90 | to | 26.09 | 11,673,052 | 0.50% | 17.22% | to | 16.92% | ||||||||||||||||||||||||||||||||||||
NVIT International Equity Fund - Class I (GIG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,036,347 | 16.20 | to | 15.55 | 16,611,416 | 2.14% | 0.87% | to | 0.62% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,135,892 | 16.06 | to | 15.46 | 18,048,434 | 0.54% | -3.06% | to | -3.30% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 960,722 | 16.57 | to | 15.99 | 15,746,265 | 3.56% | -0.45% | to | -0.70% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 796,673 | 16.64 | to | 16.10 | 13,055,210 | 0.54% | 17.83% | to | 17.54% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 758,056 | 14.12 | to | 13.70 | 10,581,543 | 0.87% | 15.61% | to | 15.32% | ||||||||||||||||||||||||||||||||||||
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 19,769 | 9.50 | 187,771 | 1.93% | 0.63% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 20,759 | 9.44 | 195,933 | 0.25% | -3.22% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 25,389 | 9.75 | 247,606 | 3.79% | -0.72% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 27,530 | 9.82 | 270,431 | 0.53% | 17.56% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 29,454 | 8.36 | 246,109 | 0.52% | 15.23% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 970,413 | 16.32 | 15,835,198 | 0.80% | 13.60% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 1,043,310 | 14.36 | 14,986,341 | 0.77% | -1.08% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 1,156,523 | 14.52 | 16,793,852 | 0.89% | 6.60% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 1,264,376 | 13.62 | 17,223,307 | 1.05% | 43.82% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 1,373,296 | 9.47 | 13,007,385 | 1.47% | 16.94% | ||||||||||||||||||||||||||||||||||||||||||
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 13,923 | 18.26 | 254,278 | 0.79% | 10.11% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 16,728 | 16.59 | 277,452 | 0.77% | -0.32% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 20,963 | 16.64 | 348,823 | 0.40% | 10.60% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 63,496 | 15.04 | 955,287 | 1.00% | 38.77% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 26,852 | 10.84 | 291,127 | 0.88% | 11.50% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Cardinal Aggressive Fund - Class I (NVCRA1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 257,360 | 15.02 | to | 23.00 | 3,902,437 | 2.47% | 8.33% | to | 8.06% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 257,344 | 13.87 | to | 21.28 | 3,598,068 | 2.63% | -1.58% | to | -1.82% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 294,102 | 14.09 | to | 21.68 | 4,162,181 | 2.30% | 4.48% | to | 4.21% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 261,976 | 13.49 | to | 20.80 | 3,541,688 | 1.43% | 29.65% | to | 29.32% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 213,377 | 10.40 | to | 16.08 | 2,220,609 | 1.16% | 16.22% | to | 15.93% | ||||||||||||||||||||||||||||||||||||
NVIT Cardinal Balanced Fund - Class I (NVCRB1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 10,166,375 | 14.67 | to | 17.70 | 179,948,748 | 2.76% | 6.28% | to | 6.02% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 10,232,948 | 13.80 | to | 16.69 | 170,635,089 | 2.73% | -1.05% | to | -1.30% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 10,224,638 | 13.95 | to | 16.91 | 172,735,321 | 2.41% | 4.46% | to | 4.20% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.10% | 10,209,139 | 13.35 | to | 16.34 | 165,624,736 | 1.74% | 14.72% | to | 14.60% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.10% | 10,264,208 | 11.64 | to | 14.26 | 145,467,469 | 1.58% | 11.24% | to | 11.13% | ||||||||||||||||||||||||||||||||||||
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 414,927 | 15.05 | to | 20.14 | 6,261,130 | 2.87% | 7.32% | to | 7.05% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 413,648 | 14.02 | to | 18.81 | 5,863,151 | 2.92% | -1.15% | to | -1.39% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 502,308 | 14.18 | to | 19.08 | 7,154,710 | 2.52% | 4.70% | to | 4.44% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 505,936 | 13.55 | to | 18.27 | 6,867,707 | 1.76% | 21.44% | to | 21.14% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 417,509 | 11.15 | 4,657,198 | 1.55% | 13.74% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Cardinal Conservative Fund - Class I (NVCCN1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 290,101 | 13.66 | to | 14.30 | 3,980,590 | 2.61% | 4.81% | to | 4.55% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 315,786 | 13.03 | to | 13.68 | 4,132,995 | 1.93% | -0.65% | to | -0.90% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 418,416 | 13.12 | to | 13.80 | 5,500,415 | 2.33% | 3.42% | to | 3.16% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 357,466 | 12.69 | to | 13.38 | 4,544,807 | 1.92% | 5.03% | to | 4.77% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 376,288 | 12.08 | to | 12.77 | 4,545,438 | 2.04% | 7.58% | to | 7.31% | ||||||||||||||||||||||||||||||||||||
NVIT Cardinal Moderate Fund - Class I (NVCMD1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 463,170 | 14.89 | to | 18.91 | 6,922,714 | 2.75% | 6.82% | to | 6.55% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 490,108 | 13.94 | to | 17.74 | 6,859,396 | 2.86% | -0.98% | to | -1.22% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 527,052 | 14.07 | to | 17.96 | 7,424,847 | 2.58% | 4.66% | to | 4.40% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 465,232 | 13.45 | to | 17.21 | 6,256,218 | 1.68% | 17.98% | to | 17.68% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 489,603 | 11.40 | 5,580,088 | 1.47% | 12.45% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 448,324 | 14.99 | to | 21.19 | 6,816,853 | 2.72% | 7.69% | to | 7.42% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 465,467 | 13.92 | to | 19.72 | 6,554,672 | 3.14% | -1.43% | to | -1.67% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 500,786 | 14.12 | to | 20.06 | 7,122,373 | 2.54% | 4.66% | to | 4.40% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 539,732 | 13.49 | to | 19.21 | 7,290,898 | 1.65% | 24.35% | to | 24.04% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 475,266 | 10.85 | to | 15.49 | 5,157,615 | 1.27% | 14.67% | to | 14.38% | ||||||||||||||||||||||||||||||||||||
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 300,175 | 14.41 | to | 16.56 | 4,358,449 | 2.66% | 5.99% | to | 5.73% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 356,776 | 13.60 | to | 15.66 | 4,919,377 | 2.82% | -0.88% | to | -1.13% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 274,907 | 13.72 | to | 15.84 | 3,837,479 | 2.59% | 4.17% | to | 3.91% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 234,164 | 13.17 | to | 15.25 | 3,134,027 | 2.10% | 11.33% | to | 11.05% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 168,356 | 11.83 | to | 13.73 | 2,023,329 | 1.97% | 10.13% | to | 9.86% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
NVIT Core Bond Fund - Class I (NVCBD1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 115,114 | 14.34 | 1,650,436 | 3.79% | 5.35% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 71,807 | 13.61 | 977,281 | 2.55% | -0.72% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 72,271 | 13.71 | 990,731 | 3.25% | 5.06% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 65,876 | 13.05 | 859,611 | 2.38% | -1.91% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 72,492 | 13.30 | 964,375 | 3.01% | 7.75% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Core Plus Bond Fund - Class I (NVLCP1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 145,090 | 15.32 | 2,222,841 | 2.98% | 3.70% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 163,170 | 14.77 | 2,410,668 | 1.87% | -0.32% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 165,785 | 14.82 | 2,457,106 | 2.41% | 5.09% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 68,382 | 14.10 | 964,406 | 2.14% | -1.77% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 88,003 | 14.36 | 1,263,519 | 3.10% | 7.38% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Nationwide Fund - Class I (TRF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 5,801,396 | 26.42 | to | 20.66 | 131,664,747 | 1.45% | 11.39% | to | 11.11% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 6,001,037 | 23.72 | to | 18.59 | 122,867,582 | 1.25% | 0.94% | to | 0.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 5,535,091 | 23.50 | to | 18.47 | 113,397,553 | 1.18% | 12.15% | to | 11.87% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 5,235,424 | 20.95 | to | 16.51 | 96,357,207 | 1.36% | 31.10% | to | 30.77% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 5,630,708 | 15.98 | to | 12.62 | 79,096,053 | 1.42% | 14.21% | to | 13.93% | ||||||||||||||||||||||||||||||||||||
NVIT Government Bond Fund - Class I (GBF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,681,148 | 22.20 | to | 18.15 | 53,132,962 | 1.93% | 0.74% | to | 0.49% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,796,778 | 22.03 | to | 18.06 | 55,120,112 | 1.66% | -0.11% | to | -0.36% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,237,960 | 22.06 | to | 18.13 | 63,730,810 | 1.84% | 4.57% | to | 4.31% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 4,678,416 | 21.09 | to | 17.38 | 88,111,568 | 1.58% | -4.06% | to | -4.29% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 6,848,651 | 21.98 | to | 18.16 | 132,739,247 | 2.29% | 3.06% | to | 2.80% | ||||||||||||||||||||||||||||||||||||
NVIT International Index Fund - Class II (GVIX2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 247,534 | 9.33 | to | 9.10 | 2,308,841 | 2.46% | 0.75% | to | 0.50% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 361,122 | 9.26 | to | 9.06 | 3,319,649 | 2.05% | -1.26% | to | -1.50% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 368,560 | 9.38 | to | 9.20 | 3,430,319 | 2.77% | -6.12% | to | -6.36% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,031,670 | 9.99 | to | 9.82 | 10,179,629 | 3.02% | 21.36% | to | 21.06% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 941,904 | 8.23 | to | 8.11 | 7,665,578 | 2.39% | 18.29% | to | 17.99% | ||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 940,743 | 24.86 | to | 23.95 | 23,255,440 | 1.68% | 9.47% | to | 9.19% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 969,751 | 22.71 | to | 21.93 | 21,912,397 | 1.39% | -1.00% | to | -1.25% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,073,873 | 22.94 | to | 22.21 | 24,498,323 | 1.57% | 4.99% | to | 4.72% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,274,214 | 21.85 | to | 21.21 | 27,694,970 | 1.70% | 27.25% | to | 26.93% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,281,727 | 17.17 | to | 16.71 | 21,905,937 | 1.41% | 15.90% | to | 15.61% | ||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 89,591 | 17.76 | 1,590,862 | 1.94% | 6.30% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 90,670 | 16.70 | 1,514,570 | 1.45% | -0.17% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 117,578 | 16.73 | 1,967,463 | 1.72% | 4.59% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 109,004 | 16.00 | 1,744,025 | 1.76% | 13.42% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 101,106 | 14.11 | 1,426,210 | 2.24% | 9.39% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 37,033 | 20.48 | 758,600 | 1.87% | 7.74% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 38,096 | 19.01 | 724,321 | 1.65% | -0.53% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 34,838 | 19.11 | 665,918 | 2.15% | 5.21% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 16,580 | 18.17 | 301,222 | 1.53% | 19.49% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 23,052 | 15.20 | 350,481 | 1.85% | 12.25% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Conservative Fund - Class II (GVIDC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 799,851 | 17.55 | to | 16.91 | 13,812,389 | 2.24% | 4.26% | to | 4.00% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 616,603 | 16.83 | to | 16.26 | 10,263,238 | 1.78% | 0.26% | to | 0.01% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 658,975 | 16.79 | to | 16.25 | 10,974,987 | 1.88% | 3.89% | to | 3.63% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 675,196 | 16.16 | to | 15.69 | 10,837,100 | 1.63% | 4.83% | to | 4.57% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 755,925 | 15.42 | to | 15.00 | 11,569,034 | 1.71% | 5.18% | to | 4.91% | ||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Moderate Fund - Class II (GVIDM) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,881,380 | 21.94 | to | 21.13 | 62,909,448 | 1.83% | 7.14% | to | 6.88% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,138,153 | 20.47 | to | 19.77 | 63,960,082 | 1.61% | -0.33% | to | -0.58% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,422,115 | 20.54 | to | 19.89 | 70,012,770 | 1.67% | 5.18% | to | 4.92% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 3,736,779 | 19.53 | to | 18.96 | 72,702,876 | 1.61% | 16.63% | to | 16.34% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 4,170,660 | 16.75 | to | 16.29 | 69,592,617 | 1.61% | 10.81% | to | 10.53% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,657,818 | 23.81 | to | 22.94 | 86,550,055 | 1.78% | 8.48% | to | 8.21% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,783,159 | 21.95 | to | 21.20 | 82,593,425 | 1.49% | -0.73% | to | -0.98% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,927,295 | 22.11 | to | 21.41 | 86,486,411 | 1.74% | 4.96% | to | 4.69% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 3,786,951 | 21.07 | to | 20.45 | 79,655,146 | 1.62% | 22.38% | to | 22.07% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 4,264,890 | 17.21 | to | 16.75 | 73,291,785 | 1.63% | 13.76% | to | 13.48% | ||||||||||||||||||||||||||||||||||||
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 847,141 | 20.07 | to | 19.33 | 16,894,695 | 2.02% | 5.70% | to | 5.44% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 822,967 | 18.98 | to | 18.33 | 15,576,328 | 1.68% | -0.03% | to | -0.28% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 883,442 | 18.99 | to | 18.38 | 16,724,811 | 1.83% | 4.74% | to | 4.48% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 929,870 | 18.13 | to | 17.60 | 16,808,751 | 1.67% | 10.49% | to | 10.22% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,041,782 | 16.41 | to | 15.97 | 17,039,395 | 1.75% | 8.04% | to | 7.77% | ||||||||||||||||||||||||||||||||||||
NVIT Mid Cap Index Fund - Class I (MCIF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,420,022 | 57.09 | to | 38.14 | 107,613,758 | 1.29% | 20.29% | to | 19.99% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,307,024 | 47.46 | to | 31.79 | 86,562,644 | 1.19% | -2.53% | to | -2.78% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,088,515 | 48.69 | to | 32.69 | 80,705,813 | 1.08% | 9.42% | to | 9.15% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,137,602 | 44.50 | to | 29.95 | 75,996,983 | 1.15% | 33.05% | to | 32.72% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,141,754 | 33.45 | to | 22.57 | 57,446,510 | 1.07% | 17.47% | to | 17.18% | ||||||||||||||||||||||||||||||||||||
NVIT Money Market Fund - Class I (SAM) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,214,145 | 14.29 | to | 11.79 | 45,893,151 | 0.01% | 0.01% | to | -0.24% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,306,864 | 14.29 | to | 11.82 | 47,207,095 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 4,000,593 | 14.29 | to | 11.85 | 56,025,296 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 4,607,576 | 14.29 | to | 11.88 | 64,524,668 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 6,108,577 | 14.29 | to | 11.91 | 85,967,265 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
NVIT Money Market Fund - Class V (SAM5) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 13,128,527 | 11.73 | to | 11.33 | 149,888,173 | 0.03% | 0.03% | to | -0.22% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 14,808,532 | 11.73 | to | 11.35 | 169,295,370 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 14,550,861 | 11.73 | to | 11.38 | 166,552,415 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 19,129,974 | 11.73 | to | 11.41 | 219,396,554 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 18,461,412 | 11.73 | to | 11.44 | 212,099,838 | 0.00% | 0.00% | to | -0.25% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager International Growth Fund - Class I (NVMIG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 1,476,548 | 9.54 | 14,087,207 | 1.44% | -2.12% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 1,587,910 | 9.75 | 15,478,083 | 0.72% | -0.49% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 1,641,194 | 9.80 | 16,076,383 | 1.06% | -2.04% | **** | |||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager International Value Fund - Class I (GVDIVI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 247,269 | 18.94 | 4,684,146 | 3.07% | 5.23% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 258,691 | 18.00 | 4,657,160 | 1.19% | -5.12% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 281,697 | 18.97 | 5,344,914 | 2.81% | -9.46% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 32,529 | 20.96 | 681,722 | 2.34% | 21.41% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 39,531 | 17.26 | 682,396 | 0.39% | 17.29% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 702,223 | 16.95 | to | 16.59 | 11,876,806 | 0.89% | 2.19% | to | 1.94% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 699,376 | 16.59 | to | 16.27 | 11,590,235 | 0.47% | 3.43% | to | 3.18% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 744,288 | 16.04 | to | 15.77 | 11,927,494 | 0.49% | 10.44% | to | 10.16% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 817,723 | 14.52 | to | 14.32 | 11,866,467 | 0.75% | 34.74% | to | 34.40% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 983,243 | 10.78 | to | 10.65 | 10,586,485 | 0.46% | 16.35% | to | 16.06% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 990,502 | 17.16 | to | 19.35 | 18,396,747 | 1.87% | 16.35% | to | 16.06% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,027,161 | 14.75 | to | 16.67 | 16,442,051 | 2.27% | -3.15% | to | -3.39% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 509,471 | 15.23 | to | 17.26 | 7,832,611 | 1.26% | 10.52% | to | 10.24% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 537,399 | 13.78 | to | 15.66 | 7,467,794 | 1.34% | 35.44% | to | 35.10% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 650,008 | 10.17 | to | 11.59 | 6,714,538 | 1.34% | 17.81% | to | 17.52% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,572,757 | 17.11 | to | 16.75 | 43,899,908 | 0.00% | 6.47% | to | 6.20% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,738,949 | 16.07 | to | 15.77 | 43,932,455 | 0.00% | -0.18% | to | -0.43% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,156,480 | 16.10 | to | 15.84 | 34,718,009 | 0.00% | 4.04% | to | 3.78% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,367,293 | 15.48 | to | 15.26 | 36,643,379 | 0.00% | 38.94% | to | 38.60% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,553,965 | 11.14 | to | 11.01 | 28,451,549 | 0.00% | 14.90% | to | 14.62% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 60,062 | 22.05 | to | 21.58 | 1,306,453 | 1.61% | 17.72% | to | 17.43% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 57,439 | 18.73 | to | 18.38 | 1,063,100 | 1.44% | -2.75% | to | -2.99% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 48,124 | 19.26 | to | 18.95 | 915,950 | 3.76% | 17.15% | to | 16.86% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 8,378 | 16.26 | to | 16.21 | 136,063 | 1.92% | 35.58% | to | 35.51% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 5,559 | 12.10 | to | 11.96 | 66,613 | 1.34% | 16.65% | to | 16.36% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 655,772 | 21.73 | 14,252,796 | 1.41% | 17.59% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 682,469 | 18.48 | 12,613,881 | 1.13% | -2.89% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 798,637 | 19.03 | 15,199,545 | 1.43% | 17.02% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 801,822 | 16.26 | 13,040,702 | 1.19% | 35.68% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 861,247 | 11.99 | 10,323,947 | 1.13% | 16.35% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 614,860 | 29.79 | to | 28.50 | 18,116,126 | 0.00% | 8.30% | to | 8.04% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 624,974 | 27.51 | to | 26.38 | 17,035,327 | 0.00% | 0.76% | to | 0.50% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 552,233 | 27.30 | to | 26.25 | 14,983,770 | 0.00% | 2.81% | to | 2.55% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 578,414 | 26.55 | to | 25.60 | 15,276,324 | 0.00% | 44.29% | to | 43.93% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 679,744 | 18.40 | to | 17.79 | 12,421,533 | 0.00% | 13.44% | to | 13.15% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 778,121 | 58.78 | to | 44.06 | 43,757,132 | 0.64% | 25.93% | to | 25.62% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 862,131 | 46.68 | to | 35.07 | 38,537,015 | 0.75% | -6.02% | to | -6.26% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 839,625 | 49.67 | to | 37.42 | 39,613,189 | 0.52% | 7.02% | to | 6.75% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 982,222 | 46.41 | to | 35.05 | 42,786,445 | 0.83% | 40.40% | to | 40.05% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,047,996 | 33.05 | to | 25.03 | 32,816,953 | 0.83% | 20.44% | to | 20.14% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager Small Company Fund - Class I (SCF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,059,980 | 51.49 | to | 34.07 | 46,370,729 | 0.33% | 22.83% | to | 22.53% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,156,133 | 41.92 | to | 27.81 | 41,158,133 | 0.37% | -1.63% | to | -1.88% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,262,236 | 42.61 | to | 28.34 | 45,885,752 | 0.16% | 0.82% | to | 0.56% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,549,110 | 42.27 | to | 28.18 | 54,890,033 | 0.13% | 40.91% | to | 40.55% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,779,583 | 30.00 | to | 20.05 | 44,668,472 | 0.15% | 15.50% | to | 15.21% | ||||||||||||||||||||||||||||||||||||
NVIT Multi-Sector Bond Fund - Class I (MSBF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 505,737 | 24.04 | to | 21.70 | 11,910,627 | 3.30% | 8.65% | to | 8.38% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 494,615 | 22.13 | to | 20.02 | 10,732,453 | 2.08% | -2.89% | to | -3.13% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 514,344 | 22.79 | to | 20.67 | 11,552,062 | 3.14% | 3.88% | to | 3.62% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 538,896 | 21.94 | to | 19.94 | 11,694,812 | 3.31% | -1.12% | to | -1.37% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 619,427 | 22.19 | to | 20.22 | 13,566,735 | 2.47% | 12.25% | to | 11.97% | ||||||||||||||||||||||||||||||||||||
NVIT Short Term Bond Fund - Class I (NVSTB1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,715,651 | 12.03 | to | 11.77 | 32,219,057 | 2.63% | 2.75% | to | 2.49% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,302,410 | 11.71 | to | 11.48 | 14,970,825 | 1.59% | -0.08% | to | -0.33% | ||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 2,190,544 | 11.64 | to | 11.52 | 25,333,573 | 0.90% | 0.67% | to | 0.52% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 3,094,731 | 11.63 | to | 11.46 | 35,644,261 | 1.51% | 0.33% | to | 0.08% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,525,391 | 11.59 | to | 11.45 | 29,087,822 | 2.62% | 3.83% | to | 3.57% | ||||||||||||||||||||||||||||||||||||
NVIT Short Term Bond Fund - Class II (NVSTB2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 103,139 | 11.75 | 1,212,293 | 1.48% | 2.49% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 136,028 | 11.47 | 1,560,000 | 1.72% | -0.34% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 164,622 | 11.51 | 1,894,382 | 0.97% | 0.49% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 163,595 | 11.45 | 1,873,312 | 0.98% | 0.11% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 201,309 | 11.44 | 2,302,741 | 1.30% | 3.52% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Large Cap Growth Fund - Class I (NVOLG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 5,059,454 | 26.71 | to | 10.37 | 135,005,393 | 0.76% | 3.63% | to | 3.68% | **** | |||||||||||||||||||||||||||||||||||
2015 | 0.00% | 4,934,844 | 25.77 | 127,175,154 | 0.63% | 5.09% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 5,400,878 | 24.52 | 132,440,260 | 0.71% | 8.80% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 5,982,076 | 22.54 | 134,827,822 | 0.79% | 36.70% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 6,636,497 | 16.49 | 109,418,189 | 0.70% | 18.68% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Templeton NVIT International Value Fund - Class III (NVTIV3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 36,585 | 15.56 | 569,167 | 2.03% | 1.12% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 45,612 | 15.39 | 701,775 | 2.37% | -3.90% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 28,263 | 16.01 | 452,505 | 3.75% | -8.15% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 29,863 | 17.43 | 520,525 | 1.87% | 20.09% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 35,997 | 14.51 | 522,460 | 2.54% | 19.56% | ||||||||||||||||||||||||||||||||||||||||||
Invesco NVIT Comstock Value Fund - Class I (EIF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 449,740 | 25.97 | to | 20.94 | 11,423,040 | 2.70% | 17.89% | to | 17.59% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 491,781 | 22.03 | to | 17.81 | 10,598,730 | 1.56% | -6.30% | to | -6.53% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 536,954 | 23.51 | to | 19.05 | 12,375,894 | 1.76% | 9.17% | to | 8.90% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 554,935 | 21.53 | to | 17.50 | 11,774,305 | 0.00% | 35.64% | to | 35.30% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 534,227 | 15.87 | to | 12.93 | 8,376,774 | 1.18% | 18.46% | to | 18.17% | ||||||||||||||||||||||||||||||||||||
NVIT Real Estate Fund - Class I (NVRE1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,769,718 | 16.00 | to | 31.50 | 32,029,409 | 2.01% | 7.35% | to | 7.08% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,934,105 | 14.91 | to | 29.42 | 32,169,726 | 2.62% | -5.36% | to | -5.59% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,232,004 | 15.75 | to | 31.16 | 39,249,857 | 3.00% | 28.88% | to | 28.56% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,274,473 | 12.22 | to | 24.24 | 30,746,745 | 1.49% | 3.05% | to | 2.79% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,455,857 | 11.86 | to | 23.58 | 31,777,308 | 1.03% | 15.79% | to | 15.50% | ||||||||||||||||||||||||||||||||||||
Loring Ward NVIT Capital Appreciation Fund - Class P (NVLCAP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 3,202 | 12.79 | 40,958 | 1.68% | 11.54% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 2,467 | 11.47 | 28,291 | 2.43% | -3.00% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 2,183 | 11.82 | 25,809 | 2.05% | 3.34% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 140 | 11.44 | 1,602 | 5.98% | 14.41% | **** | |||||||||||||||||||||||||||||||||||||||||
Loring Ward NVIT Moderate Fund - Class P (NVLMP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 619 | 12.30 | 7,616 | 1.45% | 8.96% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 530 | 11.29 | 5,984 | 5.79% | -1.70% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 191 | 11.49 | 2,194 | 1.50% | 2.09% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Small Cap Index Fund Class II (NVSIX2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 60,309 | 15.24 | 919,207 | 1.37% | 20.87% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 23,027 | 12.61 | 290,369 | 1.27% | -4.88% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 18,330 | 13.26 | 243,002 | 1.19% | 4.55% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 5,103 | 12.68 | 64,706 | 1.58% | 26.80% | **** | |||||||||||||||||||||||||||||||||||||||||
NVIT S&P 500 Index Fund Class I (GVEX1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 333,583 | 15.16 | 5,056,016 | 2.31% | 11.66% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 239,681 | 13.57 | 3,253,294 | 2.43% | 1.16% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 121,451 | 13.42 | 1,629,554 | 3.36% | 13.36% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 42,973 | 11.84 | 508,626 | 2.83% | 18.36% | **** | |||||||||||||||||||||||||||||||||||||||||
Short Duration Bond Portfolio - I Class Shares (AMTB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 315,280 | 12.54 | 3,953,563 | 1.14% | 1.22% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 300,528 | 12.39 | 3,723,185 | 1.46% | 0.18% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 303,453 | 12.37 | 3,752,525 | 1.76% | 0.61% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 290,095 | 12.29 | 3,565,590 | 2.16% | 0.62% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 299,031 | 12.22 | 3,652,892 | 2.92% | 4.61% | ||||||||||||||||||||||||||||||||||||||||||
Guardian Portfolio - I Class Shares (AMGP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 28,238 | 37.00 | to | 23.96 | 676,706 | 0.58% | 8.73% | to | 8.46% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 25,306 | 34.03 | to | 22.09 | 559,119 | 0.81% | -4.97% | to | -5.21% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 43,652 | 35.81 | to | 23.31 | 1,074,537 | 0.42% | 9.03% | to | 8.76% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 51,556 | 32.84 | to | 21.43 | 1,174,843 | 0.89% | 38.81% | to | 38.47% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 49,333 | 23.66 | to | 15.48 | 810,864 | 0.19% | 12.73% | to | 12.44% | ||||||||||||||||||||||||||||||||||||
Mid-Cap Growth Portfolio - I Class Shares (AMCG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 88,094 | 41.22 | to | 21.32 | 1,878,424 | 0.00% | 4.40% | to | 4.14% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 105,561 | 39.48 | to | 20.47 | 2,161,389 | 0.00% | 1.28% | to | 1.02% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 133,206 | 38.99 | to | 20.26 | 2,873,717 | 0.00% | 7.58% | to | 7.31% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 147,342 | 36.24 | to | 18.88 | 2,936,405 | 0.00% | 32.61% | to | 32.28% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 203,445 | 27.33 | to | 14.27 | 3,073,903 | 0.00% | 12.41% | to | 12.13% | ||||||||||||||||||||||||||||||||||||
Mid-Cap Growth Portfolio - S Class Shares (AMMCGS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 102,493 | 10.00 | 1,024,861 | 0.00% | 4.16% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 108,814 | 9.60 | 1,044,595 | 0.00% | -4.00% | **** |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Advisers Management Trust: Large Cap Value Portfolio - Class I (AMTP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 11,692 | 27.80 | to | 25.09 | 313,438 | 0.89% | 27.37% | to | 27.05% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 10,845 | 21.82 | to | 19.75 | 232,327 | 0.77% | -11.80% | to | -12.02% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 50,604 | 24.74 | to | 22.45 | 1,173,569 | 0.79% | 9.85% | to | 9.58% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 49,246 | 22.53 | to | 20.49 | 1,043,828 | 0.91% | 31.14% | to | 30.81% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 144,447 | 17.18 | to | 15.66 | 2,316,303 | 0.37% | 16.60% | to | 16.31% | ||||||||||||||||||||||||||||||||||||
Advisers Management Trust: Mid Cap Intrinsic Value Portfolio - Class I (AMRI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 301,368 | 19.09 | to | 18.58 | 5,601,936 | 0.67% | 16.17% | to | 15.88% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 307,667 | 16.43 | to | 16.04 | 4,935,285 | 0.78% | -8.34% | to | -8.57% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 307,696 | 17.92 | to | 17.54 | 5,398,169 | 1.03% | 13.84% | to | 13.55% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 347,690 | 15.75 | to | 15.45 | 5,373,194 | 1.23% | 37.05% | to | 36.71% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 380,913 | 11.49 | to | 11.30 | 4,307,792 | 0.61% | 15.53% | to | 15.24% | ||||||||||||||||||||||||||||||||||||
Socially Responsive Portfolio - I Class Shares (AMSRS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 63,947 | 32.02 | 2,047,381 | 0.70% | 9.86% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 68,268 | 29.14 | 1,989,523 | 0.51% | -0.46% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 85,955 | 29.28 | 2,516,640 | 0.35% | 10.38% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 113,615 | 26.52 | 3,013,621 | 0.70% | 37.60% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 122,284 | 19.28 | 2,357,202 | 0.22% | 10.98% | ||||||||||||||||||||||||||||||||||||||||||
TOPS Managed Risk Balanced ETF Portfolio - Class 3 (NOTB3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 3,491 | 10.76 | 37,578 | 1.34% | 6.02% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 3,395 | 10.15 | 34,469 | 1.29% | -4.54% | ||||||||||||||||||||||||||||||||||||||||||
TOPS Managed Risk Growth ETF Portfolio - Class 3 (NOTG3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 2,939 | 10.58 | 31,081 | 1.58% | 5.51% | ||||||||||||||||||||||||||||||||||||||||||
TOPS Managed Risk Moderate Growth ETF Portfolio - Class 3 (NOTMG3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 4,003 | 10.87 | 43,524 | 1.90% | 6.14% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 1,135 | 10.24 | 11,626 | 0.05% | -6.46% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 10 | 10.95 | 110 | 0.10% | 2.75% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 320 | 10.66 | 3,411 | 0.83% | 6.58% | **** | |||||||||||||||||||||||||||||||||||||||||
VPS Growth and Income Portfolio - Class A (ALVGIA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 781,559 | 32.48 | to | 31.34 | 24,692,434 | 1.00% | 11.30% | to | 11.02% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 794,184 | 29.19 | to | 28.23 | 22,576,076 | 1.45% | 1.70% | to | 1.45% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 831,086 | 28.70 | to | 27.83 | 23,312,057 | 1.55% | 9.54% | to | 9.27% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 575,885 | 26.20 | to | 25.47 | 14,819,195 | 1.26% | 34.96% | to | 34.63% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 466,391 | 19.41 | to | 18.92 | 8,924,592 | 1.56% | 17.52% | to | 17.23% | ||||||||||||||||||||||||||||||||||||
VPS International Value Portfolio - Class A (ALVIVA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,068,396 | 8.62 | to | 8.39 | 9,032,273 | 1.39% | -0.50% | to | -0.75% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 981,220 | 8.67 | to | 8.46 | 8,359,637 | 2.59% | 2.59% | to | 2.33% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,020,175 | 8.45 | to | 8.27 | 8,490,269 | 3.43% | -6.21% | to | -6.45% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,306,206 | 9.01 | to | 8.83 | 11,634,412 | 6.94% | 23.00% | to | 22.70% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,136,094 | 7.32 | to | 7.20 | 8,221,153 | 1.40% | 14.53% | to | 14.25% | ||||||||||||||||||||||||||||||||||||
VPS Small/Mid Cap Value Portfolio - Class A (ALVSVA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 460,947 | 46.38 | to | 44.82 | 21,145,299 | 0.59% | 25.09% | to | 24.78% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 496,940 | 37.07 | to | 35.92 | 18,216,191 | 0.79% | -5.49% | to | -5.72% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 515,175 | 39.23 | to | 38.10 | 20,013,603 | 0.72% | 9.20% | to | 8.93% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 413,328 | 35.92 | to | 34.98 | 14,715,273 | 0.63% | 38.06% | to | 37.71% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 393,530 | 26.02 | to | 25.40 | 10,156,369 | 0.56% | 18.75% | to | 18.45% | ||||||||||||||||||||||||||||||||||||
VP Capital Appreciation Fund - Class I (ACVCA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 55,448 | 11.67 | to | 11.59 | 642,966 | 0.00% | 3.23% | to | 2.97% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 51,411 | 11.30 | to | 11.25 | 578,782 | 0.00% | 1.93% | to | 1.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 145,072 | 11.09 | to | 11.07 | 1,606,401 | 0.00% | 10.86% | to | 10.67% | **** | |||||||||||||||||||||||||||||||||||
VP Income & Growth Fund - Class I (ACVIG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 671,446 | 30.21 | to | 21.97 | 19,116,463 | 2.36% | 13.48% | to | 13.20% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 724,329 | 26.63 | to | 19.40 | 18,198,664 | 2.08% | -5.62% | to | -5.86% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 899,634 | 28.21 | to | 20.61 | 23,330,878 | 2.04% | 12.50% | to | 12.22% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 900,940 | 25.08 | to | 18.37 | 21,067,403 | 2.22% | 35.82% | to | 35.48% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 984,649 | 18.46 | to | 13.56 | 16,875,187 | 2.10% | 14.74% | to | 14.46% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VP Inflation Protection Fund - Class II (ACVIP2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 573,519 | 16.25 | 9,320,785 | 1.82% | 4.39% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 611,924 | 15.57 | 9,526,951 | 2.05% | -2.47% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 783,544 | 15.96 | 12,507,527 | 1.30% | 3.30% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 880,216 | 15.45 | 13,601,857 | 1.80% | -8.48% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 2,163,527 | 16.88 | 36,530,087 | 2.45% | 7.39% | ||||||||||||||||||||||||||||||||||||||||||
VP International Fund - Class I (ACVI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 267,024 | 21.45 | to | 13.37 | 3,579,842 | 0.99% | -5.50% | to | -5.73% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 103,448 | 22.70 | to | 14.19 | 1,476,332 | 0.36% | 0.76% | to | 0.51% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 119,008 | 22.53 | to | 14.11 | 1,859,779 | 1.93% | -5.51% | to | -5.74% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 242,842 | 23.84 | to | 14.97 | 3,853,608 | 1.66% | 22.41% | to | 22.10% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 268,588 | 19.48 | to | 12.26 | 3,523,554 | 0.95% | 21.16% | to | 20.86% | ||||||||||||||||||||||||||||||||||||
VP Mid Cap Value Fund - Class I (ACVMV1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 573,834 | 33.06 | to | 32.11 | 18,828,526 | 1.70% | 22.85% | to | 22.55% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 500,601 | 26.91 | to | 26.20 | 13,389,899 | 1.64% | -1.43% | to | -1.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 492,846 | 27.30 | to | 26.65 | 13,379,525 | 1.17% | 16.42% | to | 16.13% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 482,118 | 23.45 | to | 22.95 | 11,238,525 | 1.23% | 30.11% | to | 29.79% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 397,347 | 18.02 | to | 17.68 | 7,119,230 | 2.06% | 16.33% | to | 16.04% | ||||||||||||||||||||||||||||||||||||
VP Ultra(R) Fund - Class I (ACVU1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.25% | 25,536 | 22.55 | 575,807 | 0.36% | 4.19% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.25% | 34,702 | 21.64 | 751,055 | 0.43% | 6.01% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 77,382 | 20.81 | to | 20.42 | 1,598,803 | 0.36% | 9.88% | to | 9.72% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 74,672 | 18.94 | to | 18.61 | 1,405,659 | 0.52% | 36.94% | to | 36.73% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 87,718 | 13.83 | to | 13.61 | 1,206,681 | 0.00% | 13.81% | to | 13.64% | ||||||||||||||||||||||||||||||||||||
VP Value Fund - Class I (ACVV) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 721,213 | 41.93 | to | 34.68 | 25,652,949 | 1.81% | 20.48% | to | 20.18% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 723,165 | 34.80 | to | 28.85 | 21,342,297 | 2.11% | -3.88% | to | -4.12% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 813,491 | 36.21 | to | 30.10 | 25,658,246 | 1.56% | 13.08% | to | 12.80% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 723,483 | 32.02 | to | 26.68 | 20,213,290 | 1.65% | 31.73% | to | 31.40% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 640,587 | 24.31 | to | 20.31 | 13,676,677 | 1.93% | 14.58% | to | 14.29% | ||||||||||||||||||||||||||||||||||||
MidCap Stock Portfolio - Initial Shares (DVMCS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 70,707 | 37.82 | to | 36.49 | 2,583,205 | 1.08% | 15.47% | to | 15.18% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 79,448 | 32.75 | to | 31.68 | 2,518,807 | 0.62% | -2.29% | to | -2.53% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 104,891 | 33.52 | to | 32.50 | 3,435,635 | 0.81% | 12.09% | to | 11.81% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 55,938 | 29.57 | to | 29.07 | 1,643,820 | 1.18% | 34.86% | to | 34.66% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 56,449 | 21.92 | to | 21.59 | 1,231,526 | 0.48% | 19.55% | to | 19.38% | ||||||||||||||||||||||||||||||||||||
Small Cap Stock Index Portfolio - Service Shares (DVSCS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,029,148 | 36.10 | to | 34.80 | 106,432,931 | 0.90% | 25.73% | to | 25.41% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,013,709 | 28.71 | to | 27.75 | 84,362,335 | 0.73% | -2.33% | to | -2.57% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,271,232 | 29.40 | to | 28.48 | 93,959,139 | 0.55% | 5.12% | to | 4.86% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,964,896 | 27.96 | to | 27.16 | 81,233,215 | 0.95% | 40.71% | to | 40.36% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,443,618 | 19.87 | to | 19.35 | 47,702,720 | 0.44% | 15.74% | to | 15.45% | ||||||||||||||||||||||||||||||||||||
Appreciation Portfolio - Initial Shares (DCAP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 680,407 | 29.81 | to | 19.86 | 18,964,648 | 1.63% | 7.90% | to | 7.63% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 800,138 | 27.63 | to | 18.45 | 20,291,117 | 1.68% | -2.47% | to | -2.71% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,135,867 | 28.33 | to | 18.97 | 27,937,998 | 1.81% | 8.09% | to | 7.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,660,176 | 26.21 | to | 17.59 | 35,692,893 | 1.96% | 21.10% | to | 20.80% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,960,552 | 21.64 | to | 14.56 | 35,125,710 | 3.70% | 10.43% | to | 10.15% | ||||||||||||||||||||||||||||||||||||
Opportunistic Small Cap Portfolio: Initial Shares (DSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 40,468 | 25.95 | 1,050,101 | 0.00% | 17.07% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 42,927 | 22.17 | 951,485 | 0.00% | -2.28% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 47,065 | 22.68 | 1,067,509 | 0.00% | 1.59% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 61,048 | 22.33 | 1,362,930 | 0.00% | 48.55% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 61,690 | 15.03 | 927,156 | 0.00% | 20.56% | ||||||||||||||||||||||||||||||||||||||||||
International Value Portfolio - Initial Shares (DVIV) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 180,986 | 18.59 | to | 17.93 | 3,255,207 | 2.13% | -1.45% | to | -1.69% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 216,185 | 18.86 | to | 18.24 | 3,953,737 | 2.30% | -2.72% | to | -2.96% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 291,203 | 19.39 | to | 18.80 | 5,511,637 | 2.00% | -9.32% | to | -9.55% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 546,235 | 21.38 | to | 20.78 | 11,390,676 | 2.00% | 22.99% | to | 22.69% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 551,230 | 17.38 | to | 16.94 | 9,366,349 | 3.81% | 12.67% | to | 12.38% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Variable Series II - DWS Small Mid Cap Value VIP - Class B (SVSSVB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 13,045 | 17.13 | to | 16.74 | 219,472 | 0.22% | 16.47% | to | 16.18% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 14,430 | 14.71 | to | 14.41 | 208,665 | 0.00% | -2.21% | to | -2.46% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 48,141 | 15.04 | to | 14.77 | 713,559 | 0.72% | 5.09% | to | 4.83% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 124,095 | 14.31 | to | 14.09 | 1,767,021 | 0.53% | 34.70% | to | 34.36% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 57,937 | 10.63 | to | 10.49 | 609,570 | 1.21% | 13.38% | to | 13.10% | ||||||||||||||||||||||||||||||||||||
Variable Series II - DWS Large Cap Value VIP - Class B (SVSLVB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 6,208 | 12.77 | to | 12.73 | 79,090 | 0.72% | -4.81% | to | -4.86% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 10,596 | 13.41 | to | 13.38 | 141,848 | 1.10% | -7.35% | to | -7.40% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 10,766 | 14.47 | to | 14.45 | 155,618 | 1.40% | 10.14% | to | 10.08% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 11,249 | 13.14 | to | 13.12 | 147,688 | 1.66% | 30.28% | to | 30.21% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 13,220 | 10.09 | to | 10.08 | 133,260 | 1.67% | 9.22% | to | 9.16% | ||||||||||||||||||||||||||||||||||||
Managed Tail Risk Fund II: Primary Shares (FVCA2P) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 41,070 | 16.49 | 677,417 | 1.76% | -4.20% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 40,403 | 17.22 | 695,612 | 1.64% | -6.29% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 43,124 | 18.37 | 792,290 | 1.71% | -0.97% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 43,232 | 18.55 | 802,033 | 0.96% | 16.45% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 43,680 | 15.93 | 695,862 | 0.63% | 10.17% | ||||||||||||||||||||||||||||||||||||||||||
Quality Bond Fund II - Primary Shares (FQB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,087,537 | 22.91 | to | 21.92 | 24,488,403 | 3.57% | 3.82% | to | 3.57% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,164,659 | 22.07 | to | 21.17 | 25,290,762 | 3.73% | -0.24% | to | -0.49% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,283,800 | 22.12 | to | 21.27 | 27,987,363 | 3.86% | 3.79% | to | 3.53% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,349,684 | 21.31 | to | 20.55 | 28,352,506 | 4.25% | 1.03% | to | 0.78% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,455,486 | 21.09 | to | 20.39 | 30,285,783 | 4.22% | 9.72% | to | 9.45% | ||||||||||||||||||||||||||||||||||||
VIP Contrafund(R)Portfolio - Service Class (FCS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,007,437 | 44.51 | to | 29.37 | 30,100,223 | 0.69% | 7.91% | to | 7.64% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,229,565 | 41.25 | to | 27.29 | 34,056,039 | 0.73% | 0.56% | to | 0.31% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,176,373 | 41.02 | to | 27.20 | 60,334,411 | 0.79% | 11.82% | to | 11.54% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,707,495 | 36.69 | to | 24.39 | 67,114,985 | 0.97% | 31.14% | to | 30.82% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 3,000,033 | 27.97 | to | 18.64 | 56,871,526 | 1.22% | 16.31% | to | 16.02% | ||||||||||||||||||||||||||||||||||||
VIP Energy Portfolio - Service Class 2 (FNRS2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 389,722 | 20.94 | 8,159,951 | 0.51% | 33.51% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 390,067 | 15.68 | 6,117,397 | 0.97% | -20.75% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 405,538 | 19.79 | 8,025,181 | 0.71% | -12.76% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 422,224 | 22.68 | 9,578,003 | 0.68% | 24.15% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 500,432 | 18.27 | 9,144,226 | 0.74% | 4.73% | ||||||||||||||||||||||||||||||||||||||||||
VIP Equity-Income Portfolio - Service Class (FEIS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,126,322 | 30.11 | to | 23.49 | 60,289,878 | 2.21% | 17.90% | to | 17.61% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,345,447 | 25.54 | to | 19.97 | 56,301,658 | 3.02% | -4.09% | to | -4.33% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,527,460 | 26.63 | to | 20.88 | 63,137,536 | 2.59% | 8.65% | to | 8.38% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 3,053,344 | 24.51 | to | 19.26 | 69,302,459 | 2.39% | 28.01% | to | 27.69% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 3,341,092 | 19.14 | to | 15.09 | 59,227,345 | 2.97% | 17.19% | to | 16.89% | ||||||||||||||||||||||||||||||||||||
VIP Freedom Fund 2010 Portfolio - Service Class (FF10S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 123,827 | 18.69 | to | 18.16 | 2,307,272 | 1.47% | 5.28% | to | 5.02% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 125,604 | 17.76 | to | 17.29 | 2,221,284 | 1.62% | -0.31% | to | -0.56% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 141,331 | 17.81 | to | 17.39 | 2,509,861 | 1.52% | 4.35% | to | 4.09% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 146,853 | 17.07 | to | 16.70 | 2,500,653 | 1.61% | 13.39% | to | 13.11% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 149,435 | 15.05 | to | 14.77 | 2,245,200 | 1.75% | 11.69% | to | 11.41% | ||||||||||||||||||||||||||||||||||||
VIP Freedom Fund 2020 Portfolio - Service Class (FF20S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,731,090 | 19.50 | to | 18.94 | 33,032,291 | 1.57% | 6.04% | to | 5.78% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,516,176 | 18.39 | to | 17.91 | 27,384,785 | 1.92% | -0.37% | to | -0.62% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,234,002 | 18.46 | to | 18.02 | 22,435,469 | 1.76% | 4.66% | to | 4.40% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,085,182 | 17.64 | to | 17.26 | 18,902,163 | 2.00% | 15.95% | to | 15.67% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 858,487 | 15.21 | to | 14.92 | 12,942,087 | 2.06% | 13.19% | to | 12.90% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VIP Freedom Fund 2030 Portfolio - Service Class (FF30S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 788,851 | 20.45 | to | 19.86 | 15,880,362 | 1.52% | 6.52% | to | 6.25% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 670,689 | 19.20 | to | 18.70 | 12,707,207 | 1.80% | -0.34% | to | -0.58% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 523,809 | 19.27 | to | 18.81 | 9,982,525 | 1.60% | 4.86% | to | 4.60% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 443,253 | 18.37 | to | 17.98 | 8,074,425 | 1.87% | 21.50% | to | 21.19% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 376,771 | 15.12 | to | 14.83 | 5,662,257 | 1.99% | 15.48% | to | 15.19% | ||||||||||||||||||||||||||||||||||||
VIP Freedom Income Fund Portfolio - Service Class (FFINS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 78,879 | 12.24 | to | 12.21 | 965,432 | 1.37% | 4.11% | to | 4.06% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 104,625 | 11.76 | to | 11.73 | 1,230,126 | 1.73% | -0.62% | to | -0.67% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 87,841 | 11.83 | to | 11.81 | 1,039,310 | 1.27% | 3.49% | to | 3.43% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 151,165 | 11.44 | to | 11.42 | 1,728,409 | 1.48% | 5.17% | to | 5.12% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 151,926 | 10.87 | to | 10.86 | 1,651,835 | 1.44% | 6.21% | to | 6.15% | ||||||||||||||||||||||||||||||||||||
VIP Growth Opportunities Portfolio - Service Class (FGOS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 16,574 | 22.69 | to | 20.45 | 351,314 | 0.21% | 0.25% | to | 0.00% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 20,793 | 22.63 | to | 20.45 | 437,298 | 0.01% | 5.48% | to | 5.22% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 176,408 | 21.45 | to | 19.43 | 3,137,228 | 0.14% | 12.10% | to | 11.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 143,931 | 19.14 | to | 17.38 | 2,307,620 | 0.22% | 37.78% | to | 37.43% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 145,694 | 13.89 | to | 12.65 | 1,697,922 | 0.29% | 19.46% | to | 19.16% | ||||||||||||||||||||||||||||||||||||
VIP Growth Portfolio - Service Class (FGS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,646,974 | 30.12 | to | 17.04 | 86,005,841 | 0.00% | 0.71% | to | 0.46% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,760,319 | 29.91 | to | 16.97 | 89,520,714 | 0.16% | 7.05% | to | 6.79% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 4,030,458 | 27.94 | to | 15.89 | 89,015,373 | 0.10% | 11.19% | to | 10.91% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 3,923,497 | 25.13 | to | 14.32 | 79,884,384 | 0.19% | 36.20% | to | 35.86% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 4,158,645 | 18.45 | to | 10.54 | 62,818,069 | 0.49% | 14.54% | to | 14.26% | ||||||||||||||||||||||||||||||||||||
VIP High Income Portfolio - Service Class (FHIS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 607,022 | 20.34 | to | 24.96 | 13,483,822 | 5.26% | 14.37% | to | 14.09% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 656,054 | 17.78 | to | 21.88 | 12,742,577 | 6.06% | -3.76% | to | -4.00% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 617,230 | 18.48 | to | 22.79 | 12,531,665 | 5.59% | 1.07% | to | 0.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 674,793 | 18.28 | to | 22.61 | 13,537,253 | 5.53% | 5.87% | to | 5.61% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 826,148 | 17.27 | to | 21.41 | 15,701,047 | 5.66% | 14.20% | to | 13.91% | ||||||||||||||||||||||||||||||||||||
VIP Index 500 Portfolio - Initial Class (FIP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 2,755,616 | 18.41 | to | 18.32 | 50,693,063 | 1.45% | 11.64% | to | 11.58% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 2,841,994 | 16.49 | to | 16.42 | 46,835,841 | 2.06% | 1.13% | to | 1.08% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 2,135,022 | 16.30 | to | 16.25 | 34,793,037 | 1.59% | 13.34% | to | 13.29% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 2,279,769 | 14.38 | to | 14.34 | 32,780,167 | 1.87% | 31.98% | to | 31.91% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 2,582,139 | 10.90 | to | 10.87 | 28,133,397 | 2.18% | 15.68% | to | 15.63% | ||||||||||||||||||||||||||||||||||||
VIP Investment Grade Bond Portfolio - Service Class (FIGBS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 10,948,211 | 17.40 | to | 16.82 | 186,155,320 | 2.38% | 4.63% | to | 4.37% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 10,467,562 | 16.63 | to | 16.11 | 170,471,100 | 2.56% | -0.71% | to | -0.95% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 9,237,349 | 16.75 | to | 16.27 | 151,948,959 | 4.79% | 5.75% | to | 5.49% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,366,422 | 15.84 | to | 15.42 | 36,825,540 | 2.51% | -1.89% | to | -2.13% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,090,637 | 16.14 | to | 15.76 | 33,296,402 | 2.31% | 5.77% | to | 5.50% | ||||||||||||||||||||||||||||||||||||
VIP Mid Cap Portfolio - Service Class (FMCS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 843,557 | 48.14 | to | 46.52 | 40,121,821 | 0.40% | 12.11% | to | 11.83% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 977,992 | 42.94 | to | 41.60 | 41,543,203 | 0.36% | -1.50% | to | -1.75% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,164,190 | 43.59 | to | 42.34 | 50,266,013 | 0.16% | 6.20% | to | 5.93% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,214,517 | 41.05 | to | 39.97 | 49,432,238 | 0.40% | 36.06% | to | 35.72% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,383,310 | 30.17 | to | 29.45 | 41,391,524 | 0.50% | 14.75% | to | 14.46% | ||||||||||||||||||||||||||||||||||||
VIP Money Market Portfolio - Initial Class (FMMP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 935,135 | 10.00 | 9,352,900 | 0.06% | 0.00% | **** | |||||||||||||||||||||||||||||||||||||||
VIP Overseas Portfolio - Service Class (FOS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 778,504 | 20.46 | to | 15.19 | 15,330,538 | 1.31% | -5.12% | to | -5.36% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 882,090 | 21.56 | to | 16.05 | 18,130,581 | 1.45% | 3.49% | to | 3.23% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 527,024 | 20.84 | to | 15.54 | 9,627,274 | 1.18% | -8.16% | to | -8.39% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 587,917 | 22.69 | to | 16.97 | 11,686,468 | 1.01% | 30.38% | to | 30.05% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 898,979 | 17.40 | to | 13.05 | 13,225,058 | 1.63% | 20.54% | to | 20.24% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VIP Value Strategies Portfolio - Service Class (FVSS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 121,726 | 28.27 | to | 27.25 | 3,438,169 | 1.04% | 9.48% | to | 9.21% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 133,932 | 25.82 | to | 24.95 | 3,457,479 | 0.74% | -3.05% | to | -3.30% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.10% | 210,258 | 26.63 | to | 26.30 | 5,579,423 | 0.96% | 6.69% | to | 6.59% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 208,874 | 24.96 | to | 24.24 | 5,197,182 | 0.85% | 30.44% | to | 30.12% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 214,480 | 19.14 | to | 18.63 | 4,094,123 | 0.49% | 27.10% | to | 26.78% | ||||||||||||||||||||||||||||||||||||
VIP Fidelity VIP Freedom Fund 2005 Portfolio - Service Class (FF05S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 25,154 | 13.20 | to | 13.16 | 331,860 | 1.68% | 4.68% | to | 4.63% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 13,584 | 12.61 | to | 12.58 | 171,219 | 2.28% | -0.55% | to | -0.59% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 7,230 | 12.68 | to | 12.65 | 91,635 | 2.81% | 3.98% | to | 3.92% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 2,444 | 12.19 | to | 12.17 | 29,794 | 0.05% | 9.38% | to | 9.32% | ||||||||||||||||||||||||||||||||||||
VIP Fidelity VIP Freedom Fund 2015 Portfolio - Service Class (FF15S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 559,667 | 14.78 | to | 14.46 | 8,116,942 | 1.35% | 5.81% | to | 5.55% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 785,176 | 13.97 | to | 13.70 | 10,782,045 | 1.88% | -0.44% | to | -0.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 660,580 | 14.03 | to | 13.80 | 9,131,177 | 1.73% | 4.63% | to | 4.37% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 560,735 | 13.41 | to | 13.22 | 7,423,685 | 2.10% | 14.24% | to | 13.96% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 391,232 | 11.74 | to | 11.60 | 4,546,241 | 2.15% | 12.13% | to | 11.85% | ||||||||||||||||||||||||||||||||||||
VIP Fidelity VIP Freedom Fund 2025 Portfolio - Service Class (FF25S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,193,459 | 15.24 | to | 14.91 | 17,836,355 | 1.59% | 6.11% | to | 5.85% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 974,642 | 14.36 | to | 14.09 | 13,753,120 | 1.84% | -0.36% | to | -0.61% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 769,831 | 14.41 | to | 14.17 | 10,931,160 | 1.78% | 4.98% | to | 4.72% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 585,943 | 13.73 | to | 13.53 | 7,940,480 | 1.91% | 19.89% | to | 19.59% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 593,356 | 11.45 | to | 11.32 | 6,719,690 | 2.04% | 14.97% | to | 14.68% | ||||||||||||||||||||||||||||||||||||
VIP Fidelity VIP Freedom Fund 2040 Portfolio - Service Class (FF40S) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 507,853 | 16.91 | to | 16.63 | 8,463,559 | 1.31% | 6.75% | to | 6.48% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 429,474 | 15.84 | to | 15.62 | 6,716,605 | 1.63% | -0.35% | to | -0.60% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 358,910 | 15.90 | to | 15.71 | 5,646,780 | 1.51% | 4.83% | to | 4.57% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 324,799 | 15.16 | to | 15.02 | 4,884,677 | 1.68% | 25.16% | to | 24.85% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 258,702 | 12.11 | to | 12.03 | 3,115,259 | 2.29% | 16.88% | to | 16.59% | ||||||||||||||||||||||||||||||||||||
Mid Cap Value- Institutional Shares (GVMCE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 646,194 | 37.97 | to | 37.70 | 24,384,347 | 0.95% | 13.30% | to | 13.25% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 1,165,986 | 33.51 | to | 33.29 | 38,868,918 | 0.34% | -9.42% | to | -9.47% | ||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 1,722,307 | 37.46 | to | 36.77 | 63,498,186 | 1.01% | 13.46% | to | 13.29% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 1,889,614 | 33.01 | to | 32.46 | 61,475,627 | 0.90% | 32.76% | to | 32.56% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 1,843,696 | 24.87 | to | 24.48 | 45,244,297 | 1.16% | 18.35% | to | 18.17% | ||||||||||||||||||||||||||||||||||||
Goldman Sachs Structured Small Cap Equity Fund (GVCSE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 35,339 | 16.09 | to | 15.95 | 567,983 | 0.78% | 23.20% | to | 22.89% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 4,569 | 13.06 | to | 12.98 | 59,353 | 0.39% | -2.13% | to | -2.37% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,986 | 13.35 | to | 13.29 | 39,722 | 0.96% | 6.93% | to | 6.66% | ||||||||||||||||||||||||||||||||||||
VIT Growth Opportunities Fund - Service Shares (GVGOPS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 85,501 | 14.87 | to | 14.66 | 1,254,544 | 0.00% | 1.42% | to | 1.17% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 98,136 | 14.66 | to | 14.49 | 1,422,670 | 0.00% | -5.20% | to | -5.44% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 82,502 | 15.46 | to | 15.32 | 1,264,559 | 0.00% | 11.10% | to | 10.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 44,812 | 13.92 | to | 13.83 | 619,638 | 0.00% | 32.20% | to | 31.87% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 4,758 | 10.53 | to | 10.49 | 49,922 | 0.00% | 19.43% | to | 19.13% | ||||||||||||||||||||||||||||||||||||
Goldman Sachs Global Markets Navigator Fund - Service Shares (GVGMNS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 1,580 | 11.96 | 18,901 | 0.21% | 4.34% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 2,301 | 11.47 | 26,382 | 0.07% | -5.82% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 3,054 | 12.17 | 37,178 | 0.03% | 3.95% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 3,565 | 11.71 | 41,751 | 0.10% | 13.57% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 92 | 10.31 | 949 | 0.00% | 3.12% | **** | |||||||||||||||||||||||||||||||||||||||||
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 634,718 | 19.67 | to | 19.22 | 12,235,290 | 0.00% | 5.80% | to | 5.54% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 614,965 | 18.59 | to | 18.21 | 11,222,935 | 0.00% | -4.37% | to | -4.61% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 472,936 | 19.44 | to | 19.09 | 9,039,455 | 0.00% | 4.08% | to | 3.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 334,875 | 18.68 | to | 18.39 | 6,165,317 | 0.04% | 47.05% | to | 46.68% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 168,989 | 12.70 | to | 12.54 | 2,120,145 | 0.55% | 19.43% | to | 19.13% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Baron Growth Opportunities Fund Service Class (BNCAI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 151,250 | 37.84 | to | 36.51 | 5,538,114 | 0.42% | 5.57% | to | 5.31% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 219,509 | 35.84 | to | 34.67 | 7,628,457 | 0.00% | -4.77% | to | -5.01% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 281,384 | 37.64 | to | 36.49 | 10,321,115 | 0.19% | 4.85% | to | 4.59% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 303,601 | 35.89 | to | 34.89 | 10,646,512 | 0.43% | 40.06% | to | 39.71% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 404,574 | 25.63 | to | 24.97 | 10,140,811 | 1.08% | 18.24% | to | 17.95% | ||||||||||||||||||||||||||||||||||||
Capital Appreciation Fund/VA - Non-Service Shares (OVGR) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 604,021 | 29.94 | to | 16.95 | 10,273,193 | 0.42% | -2.20% | to | -2.45% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 701,016 | 30.62 | to | 17.37 | 12,220,538 | 0.09% | 3.54% | to | 3.28% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 914,523 | 29.57 | to | 16.82 | 15,918,333 | 0.46% | 15.41% | to | 15.12% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,162,020 | 25.62 | to | 14.61 | 17,494,571 | 0.96% | 29.74% | to | 29.42% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,524,196 | 19.75 | to | 11.29 | 17,867,476 | 0.68% | 14.12% | to | 13.83% | ||||||||||||||||||||||||||||||||||||
Global Securities Fund/VA - Non-Service Shares (OVGS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,013,243 | 23.41 | to | 22.45 | 69,044,951 | 1.05% | 0.08% | to | -0.17% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,251,249 | 23.39 | to | 22.49 | 74,591,145 | 1.28% | 3.94% | to | 3.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,457,910 | 22.50 | to | 21.69 | 76,402,764 | 1.18% | 2.29% | to | 2.04% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,717,740 | 22.00 | to | 21.26 | 58,406,310 | 1.38% | 27.31% | to | 26.99% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,734,473 | 17.28 | to | 16.74 | 46,222,872 | 2.20% | 21.26% | to | 20.96% | ||||||||||||||||||||||||||||||||||||
International Growth Fund/VA - Non-Service Shares (OVIG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,248,548 | 10.88 | to | 10.78 | 13,484,747 | 1.14% | -2.12% | to | -2.36% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 567,662 | 11.11 | to | 11.04 | 6,271,624 | 1.20% | 3.43% | to | 3.17% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 290,603 | 10.74 | to | 10.70 | 3,110,183 | 1.26% | -7.22% | to | -7.45% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 51,327 | 11.58 | to | 11.56 | 593,525 | 0.00% | 15.80% | to | 15.60% | **** | |||||||||||||||||||||||||||||||||||
Main Street Fund(R)/VA - Non-Service Shares (OVGI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,255,013 | 26.98 | to | 22.78 | 32,835,661 | 1.10% | 11.62% | to | 11.34% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,317,469 | 24.17 | to | 20.46 | 30,977,868 | 0.93% | 3.33% | to | 3.07% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,408,467 | 23.39 | to | 19.85 | 32,046,995 | 0.83% | 10.70% | to | 10.43% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,526,979 | 21.13 | to | 17.97 | 31,396,294 | 1.10% | 31.77% | to | 31.44% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,674,156 | 16.04 | to | 13.67 | 26,173,622 | 0.95% | 16.87% | to | 16.58% | ||||||||||||||||||||||||||||||||||||
Main Street Small- & Mid-Cap Fund(R)/VA - Non-Service Shares (OVSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 160,970 | 44.05 | 7,090,228 | 0.52% | 18.05% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 177,013 | 37.31 | 6,604,590 | 0.86% | -5.90% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 181,616 | 39.65 | 7,201,116 | 0.85% | 11.93% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 188,218 | 35.42 | 6,667,259 | 0.96% | 41.01% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 174,944 | 25.12 | 4,394,613 | 0.57% | 17.99% | ||||||||||||||||||||||||||||||||||||||||||
Discovery Mid Cap Growth Fund/VA - Non-Service Shares (OVAG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,041,368 | 26.74 | to | 14.40 | 24,141,291 | 0.00% | 2.33% | to | 2.08% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,117,680 | 26.13 | to | 14.11 | 25,440,131 | 0.00% | 6.61% | to | 6.34% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,275,602 | 24.51 | to | 13.27 | 26,730,869 | 0.00% | 5.78% | to | 5.52% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,422,801 | 23.17 | to | 12.57 | 28,081,043 | 0.01% | 35.98% | to | 35.64% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,587,180 | 17.04 | to | 9.27 | 23,239,276 | 0.00% | 16.45% | to | 16.16% | ||||||||||||||||||||||||||||||||||||
Global Strategic Income Fund/VA: Non-service Shares (OVSB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 1,230,121 | 14.25 | 17,527,847 | 4.88% | 6.53% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 1,411,021 | 13.38 | 18,872,561 | 5.97% | -2.26% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 1,555,119 | 13.68 | 21,280,889 | 4.50% | 2.84% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 977,067 | 13.31 | 13,001,496 | 2.82% | -0.13% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 140,055 | 13.32 | 1,866,129 | 6.52% | 13.53% | ||||||||||||||||||||||||||||||||||||||||||
All Asset Portfolio - Administrative Class (PMVAAA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,190,145 | 18.99 | to | 18.39 | 22,052,007 | 2.69% | 12.93% | to | 12.65% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,268,463 | 16.81 | to | 16.33 | 20,816,920 | 3.21% | -8.99% | to | -9.21% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,513,875 | 18.47 | to | 17.99 | 27,369,965 | 5.30% | 0.47% | to | 0.22% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,466,038 | 18.39 | to | 17.95 | 26,438,388 | 4.71% | 0.27% | to | 0.02% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,420,335 | 18.34 | to | 17.94 | 25,602,177 | 6.62% | 14.95% | to | 14.66% | ||||||||||||||||||||||||||||||||||||
CommodityRealReturn(R)Strategy Portfolio - Administrative Class (PMVRSA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 26,588 | 6.36 | 169,022 | 1.17% | 15.16% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 8,994 | 5.52 | 49,651 | 2.61% | -25.70% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 4,998 | 7.43 | 37,137 | 0.16% | -25.70% | **** |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 108,659 | 12.45 | to | 12.18 | 1,334,432 | 1.18% | 3.01% | to | 2.75% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 160,948 | 12.08 | to | 11.85 | 1,934,119 | 1.51% | -7.08% | to | -7.31% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 106,364 | 13.00 | to | 12.79 | 1,375,723 | 2.13% | 0.40% | to | 0.15% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 231,139 | 12.95 | to | 12.77 | 2,986,586 | 1.83% | -6.47% | to | -6.71% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 154,021 | 13.85 | to | 13.69 | 2,127,709 | 5.68% | 5.50% | to | 5.24% | ||||||||||||||||||||||||||||||||||||
Long-Term U.S. Government Portfolio - Administrative Class (PMVLGA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 87,777 | 15.17 | to | 14.92 | 1,312,706 | 2.00% | 0.68% | to | 0.43% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 183,456 | 15.07 | to | 14.85 | 2,725,551 | 2.05% | -1.40% | to | -1.65% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 167,933 | 15.14 | to | 15.10 | 2,536,398 | 2.26% | 23.76% | to | 23.70% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 147,258 | 12.23 | to | 12.21 | 1,798,035 | 2.48% | -13.12% | to | -13.17% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 29,236 | 14.08 | to | 14.06 | 411,188 | 2.14% | 4.23% | to | 4.18% | ||||||||||||||||||||||||||||||||||||
Low Duration Portfolio - Administrative Class (PMVLDA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,612,115 | 15.60 | to | 15.05 | 39,611,897 | 1.49% | 1.41% | to | 1.15% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,359,878 | 15.39 | to | 14.88 | 50,361,877 | 3.20% | 0.31% | to | 0.06% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 4,315,631 | 15.34 | to | 14.87 | 64,586,899 | 1.13% | 0.85% | to | 0.60% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 4,244,504 | 15.21 | to | 14.79 | 63,117,103 | 1.42% | -0.13% | to | -0.38% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 3,426,127 | 15.23 | to | 14.84 | 51,151,896 | 1.93% | 5.86% | to | 5.59% | ||||||||||||||||||||||||||||||||||||
Real Return Portfolio - Administrative Class (PMVRRA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,947,950 | 19.36 | to | 18.67 | 55,376,645 | 2.28% | 5.19% | to | 4.92% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,850,039 | 18.40 | to | 17.80 | 68,846,366 | 3.66% | -2.70% | to | -2.95% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 5,207,734 | 18.91 | to | 18.34 | 96,011,944 | 1.42% | 3.09% | to | 2.83% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 5,409,910 | 18.35 | to | 17.83 | 96,923,936 | 1.64% | -9.22% | to | -9.44% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 5,891,396 | 20.21 | to | 19.69 | 116,545,395 | 1.08% | 8.75% | to | 8.48% | ||||||||||||||||||||||||||||||||||||
Total Return Portfolio - Administrative Class (PMVTRA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 3,991,985 | 20.37 | to | 19.65 | 79,322,917 | 2.08% | 2.69% | to | 2.43% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 4,440,358 | 19.84 | to | 19.19 | 85,963,454 | 4.31% | 0.44% | to | 0.18% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 8,771,801 | 19.75 | to | 19.15 | 168,922,532 | 1.89% | 4.27% | to | 4.01% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 22,671,205 | 18.94 | to | 18.41 | 421,168,048 | 2.20% | -1.96% | to | -2.20% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 22,903,897 | 19.32 | to | 18.83 | 434,553,540 | 2.57% | 9.60% | to | 9.33% | ||||||||||||||||||||||||||||||||||||
Pioneer Emerging Markets VCT Portfolio - Class I Shares (PIVEMI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 65,304 | 5.86 | to | 5.72 | 379,312 | 0.51% | 6.31% | to | 6.05% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 120,357 | 5.51 | to | 5.40 | 660,266 | 3.57% | -15.36% | to | -15.57% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 127,281 | 6.51 | to | 6.39 | 824,010 | 0.61% | -12.56% | to | -12.77% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 198,081 | 7.45 | to | 7.33 | 1,462,804 | 1.13% | -1.97% | to | -2.21% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 209,227 | 7.59 | to | 7.50 | 1,577,304 | 0.49% | 11.97% | to | 11.69% | ||||||||||||||||||||||||||||||||||||
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 162,466 | 29.96 | to | 28.90 | 4,732,309 | 4.91% | 14.25% | to | 13.96% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 154,355 | 26.22 | to | 25.36 | 3,941,198 | 4.78% | -3.94% | to | -4.18% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 204,952 | 27.30 | to | 26.47 | 5,470,578 | 4.72% | 0.08% | to | -0.17% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 238,255 | 27.27 | to | 26.51 | 6,364,135 | 5.22% | 12.05% | to | 11.77% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 320,179 | 24.34 | to | 23.72 | 7,633,325 | 5.53% | 16.05% | to | 15.76% | ||||||||||||||||||||||||||||||||||||
VT Growth & Income Fund: Class IB (PVGIB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 36,456 | 26.14 | 953,117 | 1.74% | 15.02% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 41,318 | 22.73 | 939,191 | 1.81% | -7.53% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 44,044 | 24.58 | 1,082,646 | 1.18% | 10.73% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 44,765 | 22.20 | 993,714 | 1.71% | 35.68% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 46,906 | 16.36 | 767,445 | 1.65% | 19.14% | ||||||||||||||||||||||||||||||||||||||||||
VT Growth Opportunities Fund: Class IB (PVGOB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 114,741 | 10.14 | 1,163,974 | 0.00% | 1.44% | **** | |||||||||||||||||||||||||||||||||||||||||
VT International Equity Fund: Class IB (PVTIGB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 39,642 | 20.96 | 831,053 | 3.39% | -2.45% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 45,227 | 21.49 | 971,980 | 1.16% | 0.14% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 51,810 | 21.46 | 1,111,894 | 0.87% | -6.78% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 49,608 | 23.02 | 1,142,034 | 1.43% | 28.07% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 53,095 | 17.98 | 954,407 | 2.17% | 21.92% | ||||||||||||||||||||||||||||||||||||||||||
VT Small Cap Value Fund: Class IB (PVTSCB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 57,699 | 17.68 | to | 17.28 | 998,748 | 1.18% | 27.49% | to | 27.18% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 61,145 | 13.87 | to | 13.58 | 832,325 | 0.82% | -4.24% | to | -4.48% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 51,730 | 14.48 | to | 14.22 | 736,687 | 0.32% | 3.43% | to | 3.18% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 720 | 13.83 | to | 13.78 | 9,931 | 0.78% | 39.33% | to | 39.26% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 299 | 9.92 | to | 9.90 | 2,964 | 0.38% | 17.25% | to | 17.19% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
VT Voyager Fund: Class IB (obsolete) (PVTVB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 53,180 | 25.36 | 1,348,563 | 1.14% | -6.11% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 59,171 | 27.01 | 1,598,169 | 0.74% | 9.72% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 80,179 | 24.62 | 1,973,714 | 0.75% | 43.72% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 66,439 | 17.13 | 1,137,933 | 0.33% | 14.23% | ||||||||||||||||||||||||||||||||||||||||||
VI Growth and Income Fund - Series I Shares (ACGI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 298,376 | 19.91 | to | 19.58 | 5,846,925 | 1.13% | 19.69% | to | 19.40% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 288,247 | 16.63 | to | 16.40 | 4,730,237 | 2.87% | -3.06% | to | -3.30% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 312,024 | 17.16 | to | 16.96 | 5,294,775 | 1.85% | 10.28% | to | 10.00% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 286,045 | 15.56 | to | 15.42 | 4,412,360 | 1.50% | 34.08% | to | 33.75% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 306,238 | 11.61 | to | 11.53 | 3,531,500 | 1.77% | 14.63% | to | 14.35% | ||||||||||||||||||||||||||||||||||||
VI American Franchise Fund - Series I Shares (ACEG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 69,572 | 15.91 | 1,106,971 | 0.00% | 2.27% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 85,010 | 15.56 | 1,322,616 | 0.00% | 5.01% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 74,837 | 14.82 | 1,108,824 | 0.04% | 8.44% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 86,923 | 13.66 | 1,187,662 | 0.43% | 40.14% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 82,490 | 9.75 | 804,283 | 0.00% | -2.50% | **** | |||||||||||||||||||||||||||||||||||||||||
VI Value Opportunities Fund - Series I Shares (AVBVI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.25% | 21 | 22.67 | 476 | 0.09% | 18.04% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.25% | 496 | 19.21 | 9,527 | 2.85% | -10.63% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 24,969 | 21.89 | to | 21.49 | 544,288 | 1.44% | 6.51% | to | 6.35% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 25,874 | 20.55 | to | 20.21 | 529,924 | 1.18% | 33.62% | to | 33.42% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 45,186 | 15.38 | to | 15.15 | 691,134 | 1.42% | 17.59% | to | 17.41% | ||||||||||||||||||||||||||||||||||||
VI High Yield Fund - Series I Shares (AVHY1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 985,388 | 14.73 | to | 14.49 | 14,318,218 | 4.22% | 11.21% | to | 10.94% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,054,103 | 13.25 | to | 13.06 | 13,801,155 | 5.24% | -3.17% | to | -3.41% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,143,753 | 13.68 | to | 13.52 | 15,496,752 | 4.12% | 1.73% | to | 1.47% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 781,618 | 13.45 | to | 13.33 | 10,432,057 | 4.58% | 7.01% | to | 6.74% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 791,083 | 12.57 | to | 12.49 | 9,888,749 | 5.34% | 17.17% | to | 16.88% | ||||||||||||||||||||||||||||||||||||
VI International Growth Fund - Series I Shares (AVIE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,875,898 | 23.57 | to | 22.84 | 43,042,681 | 1.41% | -0.45% | to | -0.70% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,038,231 | 23.68 | to | 23.00 | 47,081,685 | 1.31% | -2.34% | to | -2.59% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,475,931 | 24.25 | to | 23.61 | 58,655,441 | 1.60% | 0.33% | to | 0.08% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,336,984 | 24.17 | to | 23.59 | 55,292,311 | 1.27% | 19.01% | to | 18.72% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,122,930 | 20.31 | to | 19.87 | 42,304,002 | 1.49% | 15.53% | to | 15.24% | ||||||||||||||||||||||||||||||||||||
VI Mid Cap Core Equity Fund: Series I Shares (AVMCCI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 15,984 | 21.97 | to | 21.38 | 345,514 | 0.09% | 13.43% | to | 13.15% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 21,154 | 19.36 | to | 18.89 | 402,728 | 0.34% | -4.03% | to | -4.27% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 22,264 | 20.18 | to | 19.74 | 442,463 | 0.04% | 4.43% | to | 4.17% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 71,330 | 19.32 | to | 18.95 | 1,353,655 | 0.71% | 28.81% | to | 28.49% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 66,547 | 15.00 | to | 14.75 | 981,528 | 0.10% | 10.96% | to | 10.68% | ||||||||||||||||||||||||||||||||||||
VI Small Cap Equity Fund - Series I Shares (AVSCE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 23,157 | 11.22 | to | 11.20 | 259,411 | 0.00% | 11.84% | to | 11.79% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 19,997 | 10.03 | to | 10.02 | 200,390 | 0.00% | -5.71% | to | -5.75% | ||||||||||||||||||||||||||||||||||||
Micro-Cap Portfolio - Investment Class (ROCMC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 199,081 | 32.53 | to | 31.38 | 6,274,296 | 0.72% | 19.71% | to | 19.41% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 261,835 | 27.17 | to | 26.28 | 6,917,448 | 0.00% | -12.46% | to | -12.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 372,394 | 31.04 | to | 30.09 | 11,279,156 | 0.00% | -3.58% | to | -3.82% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 803,412 | 32.19 | to | 31.29 | 25,228,360 | 0.41% | 20.99% | to | 20.68% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,529,776 | 26.60 | to | 25.93 | 39,796,745 | 0.00% | 7.60% | to | 7.34% | ||||||||||||||||||||||||||||||||||||
Small-Cap Portfolio - Investment Class (ROCSC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 184,649 | 12.89 | to | 12.85 | 2,378,673 | 0.10% | 12.27% | to | 12.22% | ||||||||||||||||||||||||||||||||||||
Variable Fund - Multi-Hedge Strategies (RVARS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | 50,046 | 10.60 | 530,647 | 0.11% | -0.48% | ||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | 32,120 | 10.65 | 342,230 | 0.72% | 1.85% | ||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 75,501 | 10.46 | 789,841 | 0.00% | 4.66% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 16,822 | 10.00 | 168,146 | 0.00% | -0.04% | **** |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Equity Income Portfolio - II (TREI2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 959,441 | 29.88 | to | 28.83 | 27,774,880 | 1.78% | 18.85% | to | 18.56% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,107,227 | 25.14 | to | 24.32 | 51,431,936 | 1.54% | -7.11% | to | -7.34% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 2,807,870 | 27.07 | to | 26.24 | 73,939,912 | 1.51% | 7.10% | to | 6.84% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 2,898,250 | 25.27 | to | 24.57 | 71,406,961 | 1.33% | 29.41% | to | 29.08% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,782,361 | 19.53 | to | 19.03 | 53,102,114 | 1.93% | 16.92% | to | 16.63% | ||||||||||||||||||||||||||||||||||||
Health Sciences Portfolio - II (TRHS2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 719,025 | 30.95 | to | 30.26 | 22,036,233 | 0.00% | -10.72% | to | -10.94% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 999,696 | 34.66 | to | 33.97 | 34,363,964 | 0.00% | 12.47% | to | 12.19% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,018,380 | 30.82 | to | 30.28 | 31,136,224 | 0.00% | 31.22% | to | 30.90% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 898,513 | 23.48 | to | 23.13 | 20,956,747 | 0.00% | 50.51% | to | 50.14% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 685,053 | 15.60 | to | 15.41 | 10,624,734 | 0.00% | 31.00% | to | 30.67% | ||||||||||||||||||||||||||||||||||||
Limited-Term Bond Portfolio (TRLT1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,472,159 | 10.63 | to | 10.47 | 15,419,311 | 1.36% | 1.37% | to | 1.11% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,318,939 | 10.49 | to | 10.35 | 24,014,768 | 1.15% | 0.30% | to | 0.05% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,654,482 | 10.45 | to | 10.35 | 17,125,379 | 1.25% | 0.64% | to | 0.39% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,416,096 | 10.39 | to | 10.31 | 14,598,839 | 1.44% | 0.13% | to | -0.12% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 230,839 | 10.37 | to | 10.32 | 2,382,554 | 2.05% | 2.47% | to | 2.22% | ||||||||||||||||||||||||||||||||||||
Mid-Cap Growth Portfolio - II (TRMCG2) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 458,552 | 50.20 | to | 49.84 | 22,859,346 | 0.00% | 5.82% | to | 5.77% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 442,133 | 47.43 | to | 47.12 | 20,838,600 | 0.00% | 6.06% | to | 6.01% | ||||||||||||||||||||||||||||||||||||
2014 | 0.10% | to | 0.25% | 770,625 | 45.28 | to | 44.45 | 34,378,988 | 0.00% | 12.71% | to | 12.54% | ||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 767,584 | 40.17 | to | 39.50 | 30,393,507 | 0.00% | 36.26% | to | 36.06% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 815,148 | 29.48 | to | 29.03 | 23,729,275 | 0.00% | 13.50% | to | 13.33% | ||||||||||||||||||||||||||||||||||||
New America Growth Portfolio (TRNAG1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 1,270,514 | 28.39 | to | 27.51 | 35,110,559 | 0.04% | 1.31% | to | 1.06% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,528,987 | 28.02 | to | 27.22 | 41,821,955 | 0.00% | 8.60% | to | 8.33% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,705,856 | 25.80 | to | 25.13 | 43,114,539 | 0.00% | 9.33% | to | 9.06% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,851,100 | 23.60 | to | 23.04 | 42,869,299 | 0.00% | 38.01% | to | 37.66% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 2,050,836 | 17.10 | to | 16.74 | 34,439,125 | 0.56% | 13.12% | to | 12.84% | ||||||||||||||||||||||||||||||||||||
Personal Strategy Balanced Portfolio (TRPSB1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 234,318 | 17.39 | to | 16.96 | 3,981,119 | 1.71% | 6.45% | to | 6.19% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 231,861 | 16.34 | to | 15.97 | 3,704,524 | 1.73% | -0.05% | to | -0.30% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 255,954 | 16.34 | to | 16.02 | 4,113,269 | 1.68% | 5.20% | to | 4.94% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 250,814 | 15.54 | to | 15.26 | 3,840,044 | 1.53% | 17.93% | to | 17.63% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 306,888 | 13.17 | to | 12.97 | 3,988,841 | 1.90% | 15.14% | to | 14.86% | ||||||||||||||||||||||||||||||||||||
Blue Chip Growth Portfolio (TRBCGP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,741,163 | 17.51 | to | 17.32 | 47,617,148 | 0.00% | 0.78% | to | 0.53% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 2,425,545 | 17.37 | to | 17.23 | 41,876,661 | 0.00% | 11.05% | to | 10.77% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,776,681 | 15.64 | to | 15.56 | 27,676,375 | 0.00% | 9.17% | to | 8.89% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 578,648 | 14.33 | to | 14.29 | 8,267,392 | 0.08% | 41.15% | to | 40.80% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 7,887 | 10.15 | 80,031 | 0.14% | 1.46% | **** | |||||||||||||||||||||||||||||||||||||||
VIP Trust Emerging Markets Fund - Initial Class (VWEM) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 232,376 | 31.71 | to | 38.74 | 7,894,612 | 0.45% | 0.10% | to | -0.15% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 238,851 | 31.68 | to | 38.79 | 8,091,073 | 0.58% | -13.99% | to | -14.21% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 336,325 | 36.83 | to | 45.22 | 14,009,036 | 0.51% | -0.41% | to | -0.66% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 354,185 | 36.98 | to | 45.52 | 14,745,182 | 1.64% | 12.02% | to | 11.74% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 421,121 | 33.02 | to | 40.74 | 15,749,369 | 0.00% | 29.81% | to | 29.48% | ||||||||||||||||||||||||||||||||||||
VIP Trust Global Hard Assets Fund - Initial Class (VWHA) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 890,301 | 32.39 | to | 37.44 | 32,061,348 | 0.38% | 43.71% | to | 43.35% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 891,836 | 22.54 | to | 26.12 | 22,688,388 | 0.03% | -33.45% | to | -33.61% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 809,893 | 33.87 | to | 39.34 | 31,040,065 | 0.10% | -19.10% | to | -19.30% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 877,892 | 41.86 | to | 48.75 | 42,783,280 | 0.72% | 10.53% | to | 10.26% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 956,384 | 37.87 | to | 44.21 | 42,827,287 | 0.60% | 3.39% | to | 3.13% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Balanced Portfolio (VVB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 525,315 | 17.80 | to | 17.72 | 9,344,611 | 2.34% | 10.79% | to | 10.74% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 489,833 | 16.06 | to | 16.00 | 7,865,315 | 2.42% | -0.11% | to | -0.16% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 442,815 | 16.08 | to | 16.03 | 7,118,439 | 2.09% | 9.62% | to | 9.57% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 418,598 | 14.67 | to | 14.63 | 6,138,829 | 2.15% | 19.64% | to | 19.59% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 371,867 | 12.26 | to | 12.23 | 4,558,352 | 2.42% | 12.34% | to | 12.28% | ||||||||||||||||||||||||||||||||||||
Insurance Fund - Capital Growth Portfolio (VVCG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 1,075,747 | 10.98 | to | 10.97 | 11,812,030 | 1.14% | 10.62% | to | 10.57% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 1,016,660 | 9.93 | to | 9.92 | 10,091,991 | 0.00% | -0.73% | to | -0.76% | **** | |||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Diversified Value Portfolio (VVDV) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 823,155 | 16.75 | to | 16.67 | 13,777,631 | 2.74% | 12.74% | to | 12.68% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 942,963 | 14.85 | to | 14.80 | 14,000,476 | 2.55% | -2.65% | to | -2.70% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 1,075,270 | 15.26 | to | 15.21 | 16,400,241 | 2.20% | 9.61% | to | 9.56% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 1,192,808 | 13.92 | to | 13.88 | 16,598,693 | 2.14% | 29.14% | to | 29.07% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 1,259,787 | 10.78 | to | 10.75 | 13,576,102 | 0.80% | 16.27% | to | 16.21% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - International Portfolio (VVI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 737,202 | 10.94 | to | 10.89 | 8,059,541 | 1.45% | 1.67% | to | 1.62% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 867,678 | 10.76 | to | 10.72 | 9,330,551 | 0.88% | -0.97% | to | -1.02% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 395,718 | 10.86 | to | 10.83 | 4,297,083 | 1.47% | -6.24% | to | -6.29% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 468,254 | 11.59 | to | 11.55 | 5,423,630 | 1.38% | 23.01% | to | 22.95% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 471,330 | 9.42 | to | 9.40 | 4,438,353 | 2.10% | 19.90% | to | 19.84% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 1,397,843 | 19.44 | to | 19.35 | 27,153,526 | 1.37% | 10.89% | to | 10.84% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 1,540,845 | 17.53 | to | 17.46 | 26,993,273 | 0.79% | -1.63% | to | -1.68% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 923,730 | 17.82 | to | 17.76 | 16,451,648 | 0.93% | 13.37% | to | 13.31% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 1,014,767 | 15.72 | to | 15.67 | 15,943,070 | 0.97% | 34.66% | to | 34.59% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 802,681 | 11.67 | to | 11.64 | 9,365,695 | 1.08% | 15.58% | to | 15.53% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - REIT Index Portfolio (VVREI) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 479,306 | 19.25 | to | 19.19 | 9,220,808 | 2.47% | 8.14% | to | 8.09% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 477,496 | 17.80 | to | 17.75 | 8,495,138 | 1.86% | 2.02% | to | 1.97% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 554,659 | 17.44 | to | 17.41 | 9,673,146 | 2.98% | 29.85% | to | 29.78% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 519,163 | 13.43 | to | 13.41 | 6,973,233 | 1.23% | 2.13% | to | 2.08% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 140,656 | 13.15 | to | 13.14 | 1,850,006 | 2.07% | 17.22% | to | 17.17% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 466,816 | 12.87 | to | 12.81 | 6,003,838 | 1.79% | 2.51% | to | 2.46% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 439,398 | 12.55 | to | 12.50 | 5,513,186 | 1.68% | 0.92% | to | 0.87% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 406,789 | 12.44 | to | 12.40 | 5,057,636 | 1.51% | 1.55% | to | 1.50% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 384,564 | 12.25 | to | 12.21 | 4,708,426 | 2.05% | 0.87% | to | 0.82% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 491,102 | 12.14 | to | 12.11 | 5,961,111 | 2.42% | 4.21% | to | 4.16% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Small Company Growth Portfolio (VVSCG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 236,916 | 19.15 | to | 19.11 | 4,536,674 | 0.33% | 14.71% | to | 14.65% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 240,856 | 16.70 | to | 16.67 | 4,021,049 | 0.37% | -2.95% | to | -2.99% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 241,303 | 17.21 | to | 17.18 | 4,151,048 | 0.29% | 3.17% | to | 3.12% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 268,075 | 16.68 | to | 16.66 | 4,470,014 | 0.00% | 46.25% | to | 46.18% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.20% | to | 0.25% | 1,957,890 | 11.72 | to | 11.68 | 22,938,055 | 2.14% | 2.27% | to | 2.22% | ||||||||||||||||||||||||||||||||||||
2015 | 0.20% | to | 0.25% | 1,792,381 | 11.46 | to | 11.43 | 20,534,955 | 1.88% | 0.13% | to | 0.08% | ||||||||||||||||||||||||||||||||||||
2014 | 0.20% | to | 0.25% | 1,395,545 | 11.45 | to | 11.42 | 15,968,097 | 2.04% | 5.68% | to | 5.63% | ||||||||||||||||||||||||||||||||||||
2013 | 0.20% | to | 0.25% | 754,096 | 10.83 | to | 10.81 | 8,165,242 | 2.50% | -2.48% | to | -2.53% | ||||||||||||||||||||||||||||||||||||
2012 | 0.20% | to | 0.25% | 658,202 | 11.11 | to | 11.09 | 7,308,939 | 2.82% | 3.82% | to | 3.76% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - Asset Strategy (WRASP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 572,683 | 13.37 | to | 13.07 | 7,622,325 | 0.56% | -2.57% | to | -2.81% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,052,576 | 13.72 | to | 13.44 | 14,359,260 | 0.33% | -8.35% | to | -8.57% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 996,762 | 14.97 | to | 14.70 | 14,876,200 | 0.49% | -5.26% | to | -5.50% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,017,541 | 15.81 | to | 15.56 | 16,046,069 | 1.28% | 25.13% | to | 24.82% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,146,952 | 12.63 | to | 12.47 | 14,446,242 | 1.12% | 19.18% | to | 18.88% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - Growth (WRGP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 615,761 | 26.94 | to | 26.17 | 16,376,320 | 0.03% | 1.22% | to | 0.97% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 726,824 | 26.62 | to | 25.92 | 19,112,081 | 0.07% | 7.17% | to | 6.90% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 139,568 | 24.84 | to | 24.24 | 3,418,418 | 0.46% | 11.81% | to | 11.53% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 157,563 | 22.21 | to | 21.74 | 3,445,317 | 0.38% | 36.46% | to | 36.12% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 129,681 | 16.28 | to | 15.97 | 2,083,511 | 0.06% | 12.74% | to | 12.46% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - High Income (WRHIP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 2,885,082 | 13.34 | to | 13.19 | 38,252,688 | 7.49% | 16.19% | to | 15.90% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 3,168,839 | 11.49 | to | 11.38 | 36,199,055 | 6.24% | -6.50% | to | -6.74% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 3,581,446 | 12.28 | to | 12.20 | 43,822,048 | 5.21% | 1.90% | to | 1.65% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,882,396 | 12.06 | to | 12.01 | 22,619,242 | 4.84% | 10.50% | to | 10.22% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,192,471 | 10.91 | to | 10.89 | 12,993,224 | 0.10% | 9.10% | to | 8.92% | **** | |||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - Mid Cap Growth (WRMCG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 297,974 | 14.23 | to | 14.07 | 4,199,956 | 0.00% | 6.12% | to | 5.85% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 497,206 | 13.41 | to | 13.29 | 6,616,270 | 0.00% | -5.78% | to | -6.01% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 343,498 | 14.24 | to | 14.14 | 4,862,274 | 0.00% | 7.87% | to | 7.60% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 142,575 | 13.20 | to | 13.14 | 1,876,397 | 0.00% | 29.94% | to | 29.61% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 54,403 | 10.16 | to | 10.14 | 551,956 | 0.00% | 1.56% | to | 1.39% | **** | |||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - Real Estate Securities (WRRESP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 390,460 | 22.70 | to | 22.04 | 8,724,567 | 1.05% | 4.26% | to | 4.01% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 323,475 | 21.77 | to | 21.20 | 6,956,811 | 1.17% | 4.78% | to | 4.52% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 387,600 | 20.78 | to | 20.28 | 8,001,317 | 0.90% | 30.17% | to | 29.84% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 263,504 | 15.96 | to | 15.62 | 4,179,060 | 1.00% | 1.13% | to | 0.88% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 166,858 | 15.78 | to | 15.48 | 2,612,179 | 0.74% | 17.72% | to | 17.42% | ||||||||||||||||||||||||||||||||||||
Variable Insurance Portfolios - Science and Technology (WRSTP) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 651,961 | 20.90 | to | 20.42 | 13,447,888 | 0.00% | 1.54% | to | 1.29% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 740,554 | 20.58 | to | 20.16 | 15,064,146 | 0.00% | -2.88% | to | -3.12% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 811,657 | 21.19 | to | 20.81 | 17,025,165 | 0.00% | 2.91% | to | 2.65% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 800,093 | 20.59 | to | 20.27 | 16,320,668 | 0.00% | 56.38% | to | 55.99% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 368,902 | 13.17 | to | 13.00 | 4,814,961 | 0.00% | 27.83% | to | 27.51% | ||||||||||||||||||||||||||||||||||||
Wells Fargo Variable Trust - VT Discovery Fund: Class 2 (SVDF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 748,933 | 18.84 | to | 18.41 | 13,994,736 | 0.00% | 7.65% | to | 7.38% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 938,219 | 17.50 | to | 17.15 | 16,264,113 | 0.00% | -1.46% | to | -1.71% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 867,277 | 17.76 | to | 17.44 | 15,266,230 | 0.00% | 0.36% | to | 0.10% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 850,849 | 17.70 | to | 17.43 | 14,938,000 | 0.01% | 43.80% | to | 43.44% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 782,606 | 12.31 | to | 12.15 | 9,571,163 | 0.00% | 17.74% | to | 17.44% | ||||||||||||||||||||||||||||||||||||
Advantage VT Opportunity Fund - Class 2 (SVOF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 229,422 | 27.31 | to | 26.19 | 6,021,481 | 2.02% | 12.23% | to | 11.95% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 234,040 | 24.33 | to | 23.40 | 5,486,988 | 0.13% | -3.08% | to | -3.33% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 379,694 | 25.10 | to | 24.20 | 9,224,502 | 0.06% | 10.42% | to | 10.15% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 451,113 | 22.73 | to | 21.97 | 9,949,773 | 0.20% | 30.68% | to | 30.35% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 483,311 | 17.40 | to | 16.86 | 8,189,839 | 0.09% | 15.52% | to | 15.23% | ||||||||||||||||||||||||||||||||||||
Advantage VT Small Cap Growth Fund - Class 2 (WFVSCG) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2016 | 0.00% | to | 0.25% | 270,148 | 17.32 | to | 16.92 | 4,612,821 | 0.00% | 7.75% | to | 7.48% | ||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 390,465 | 16.07 | to | 15.74 | 6,201,275 | 0.00% | -2.88% | to | -3.12% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 389,785 | 16.55 | to | 16.25 | 6,377,957 | 0.00% | -1.88% | to | -2.12% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 431,204 | 16.86 | to | 16.60 | 7,209,362 | 0.00% | 50.23% | to | 49.85% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 712,536 | 11.23 | to | 11.08 | 7,928,009 | 0.00% | 7.87% | to | 7.60% | ||||||||||||||||||||||||||||||||||||
Global Securities Fund/VA - Class 3 (obsolete) (OVGS3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 967,069 | 20.71 | 20,025,316 | 1.37% | 27.34% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 957,445 | 16.26 | 15,569,771 | 2.16% | 21.23% | ||||||||||||||||||||||||||||||||||||||||||
Templeton Developing Markets Securities Fund - Class 3 (obsolete) (FTVDM3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 201,488 | 19.12 | 3,852,366 | 2.07% | -0.97% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 218,972 | 19.31 | 4,227,747 | 1.42% | 13.16% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Templeton Foreign Securities Fund - Class 3 (obsolete) (TIF3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 395,070 | 18.24 | 7,204,705 | 2.46% | 22.98% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 366,253 | 14.83 | 5,431,168 | 2.90% | 18.30% | ||||||||||||||||||||||||||||||||||||||||||
Templeton Global Bond Securities Fund - Class 3 (obsolete) (FTVGI3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 535,931 | 20.70 | 11,094,041 | 4.83% | 1.64% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 606,188 | 20.37 | 12,346,451 | 6.28% | 15.06% | ||||||||||||||||||||||||||||||||||||||||||
Calvert VP SRI Equity Portfolio (obsolete) (CVSSE) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 11,383 | 25.56 | to | 25.12 | 288,064 | 0.08% | 30.92% | to | 30.72% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 12,766 | 19.52 | to | 19.22 | 246,571 | 0.09% | 15.83% | to | 15.66% | ||||||||||||||||||||||||||||||||||||
Investors Growth Stock Series - Initial Class (obsolete) (MIGIC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 129,370 | 26.83 | 3,471,220 | 0.52% | 11.45% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 156,129 | 24.07 | 3,758,750 | 0.64% | 30.29% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 172,283 | 18.48 | 3,183,370 | 0.46% | 16.97% | ||||||||||||||||||||||||||||||||||||||||||
Mid Cap Growth Portfolio- Class 1 (obsolete) (OGGO) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.10% | to | 0.25% | 125,039 | 32.67 | to | 32.12 | 4,036,164 | 0.06% | 43.16% | to | 42.94% | ||||||||||||||||||||||||||||||||||||
2012 | 0.10% | to | 0.25% | 139,414 | 22.82 | to | 22.47 | 3,145,832 | 0.00% | 15.99% | to | 15.82% | ||||||||||||||||||||||||||||||||||||
Federated NVIT High Income Bond Fund - Class III (obsolete) (HIBF3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 588,722 | 18.20 | 10,716,292 | 6.72% | 6.94% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 644,890 | 17.02 | 10,977,189 | 8.23% | 14.71% | ||||||||||||||||||||||||||||||||||||||||||
VIP High Income Portfolio - Service Class R (obsolete) (FHISR) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 262,020 | 15.40 | 4,035,140 | 5.61% | 0.99% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 272,620 | 15.25 | 4,157,098 | 5.27% | 5.92% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 338,588 | 14.40 | 4,874,361 | 5.95% | 14.10% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Emerging Markets Fund - Class III (obsolete) (GEM3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 452,954 | 19.48 | 8,824,216 | 1.14% | 0.75% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 488,948 | 19.34 | 9,454,339 | 0.40% | 17.24% | ||||||||||||||||||||||||||||||||||||||||||
NVIT International Equity Fund - Class III (obsolete) (GIG3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 430,241 | 9.96 | 4,283,590 | 0.51% | 17.81% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 425,415 | 8.45 | 3,595,143 | 0.79% | 15.58% | ||||||||||||||||||||||||||||||||||||||||||
Research International Series - Service Class (obsolete) (MVRISC) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 288,102 | 10.01 | to | 9.82 | 2,832,586 | 1.20% | -7.09% | to | -7.32% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 423,329 | 10.78 | to | 10.60 | 4,491,538 | 1.76% | 18.66% | to | 18.37% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 403,657 | 9.08 | to | 8.96 | 3,617,731 | 2.64% | 16.41% | to | 16.12% | ||||||||||||||||||||||||||||||||||||
VIP Overseas Portfolio - Service Class R (obsolete) (FOSR) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | 677,999 | 16.56 | 11,224,415 | 1.22% | -8.18% | ||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 711,787 | 18.03 | 12,833,053 | 1.29% | 30.30% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 771,330 | 13.84 | 10,672,653 | 1.81% | 20.67% | ||||||||||||||||||||||||||||||||||||||||||
NVIT International Index Fund - Class VI (obsolete) (GVIX6) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 145,428 | 11.84 | 1,722,073 | 3.07% | 21.27% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 101,703 | 9.76 | 993,072 | 2.68% | 18.29% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager International Growth Fund - Class III (obsolete) (NVMIG3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 1,431,105 | 12.17 | 17,411,691 | 1.26% | 21.34% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 1,574,138 | 10.03 | 15,783,512 | 0.59% | 15.78% | ||||||||||||||||||||||||||||||||||||||||||
NVIT Multi-Manager International Value Fund - Class III (obsolete) (GVDIV3) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | 437,468 | 12.78 | 5,588,742 | 2.28% | 21.42% | ||||||||||||||||||||||||||||||||||||||||||
2012 | 0.00% | 465,460 | 10.52 | 4,897,270 | 0.39% | 17.24% | ||||||||||||||||||||||||||||||||||||||||||
American Century NVIT Growth Fund - Class I (obsolete) (CAF) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2015 | 0.00% | to | 0.25% | 1,029,042 | 16.53 | to | 15.63 | 16,659,543 | 0.35% | 4.67% | to | 4.41% | ||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.25% | 1,099,344 | 15.79 | to | 14.97 | 17,014,563 | 0.35% | 11.33% | to | 11.05% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 1,193,249 | 14.18 | to | 13.48 | 16,588,174 | 0.68% | 29.74% | to | 29.42% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 1,304,902 | 10.93 | to | 10.41 | 13,959,713 | 0.56% | 14.02% | to | 13.74% | ||||||||||||||||||||||||||||||||||||
VP Vista(SM) Fund - Class I (obsolete) (ACVVS1) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 90,579 | 18.87 | to | 18.47 | 1,683,610 | 0.00% | 30.17% | to | 29.85% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 124,668 | 14.50 | to | 14.22 | 1,784,625 | 0.00% | 15.61% | to | 15.33% |
Contract Expense Rate* |
Units | Unit Fair Value |
Contract Owners Equity |
Investment Income Ratio** |
Total Return*** | |||||||||||||||||||||||||||||||||||||||||||
Small-Cap Growth Portfolio - S Class Shares (obsolete) (AMFAS) |
| |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 0.00% | to | 0.10% | 76,374 | 22.15 | to | 21.88 | 1,685,063 | 0.00% | 3.47% | to | 3.37% | ||||||||||||||||||||||||||||||||||||
2013 | 0.00% | to | 0.25% | 145,700 | 21.40 | to | 20.81 | 3,077,339 | 0.00% | 45.83% | to | 45.47% | ||||||||||||||||||||||||||||||||||||
2012 | 0.00% | to | 0.25% | 115,055 | 14.68 | to | 14.30 | 1,668,533 | 0.00% | 8.82% | to | 8.55% | ||||||||||||||||||||||||||||||||||||
2016 | Contract owners equity: | $ | 4,733,099,813 | |||||||||||||||||||||||||||||||||||||||||||||
2015 | Contract owners equity: | $ | 4,526,981,672 | |||||||||||||||||||||||||||||||||||||||||||||
2014 | Contract owners equity: | $ | 4,739,882,176 | |||||||||||||||||||||||||||||||||||||||||||||
2013 | Contract owners equity: | $ | 4,637,188,888 | |||||||||||||||||||||||||||||||||||||||||||||
2012 | Contract owners equity: | $ | 4,083,042,311 |
* | This represents the range of annual contract expense rates of the variable account at the period end indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying mutual funds and charges made directly to contract owner accounts through the redemption of units. |
** | This represents the ratio of dividends for the period indicated, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by monthly average net assets (excluding months where net assets are zero). The investment income ratio for subaccounts initially funded during the period presented has not been annualized. The ratios exclude those expenses that result in direct reductions to the contract owner accounts through reductions in unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest. |
*** | This represents the range of minimum and maximum total returns for the period indicated, including changes in the value of the underlying mutual fund, which reflects the reduction of unit values for expenses assessed. The total returns do not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return is not annualized if the underlying mutual fund option is initially offered, funded, or both, during the period presented. Minimum and maximum ranges are not shown for underlying mutual fund options for which a single contract expense rate (product option) exists. In such cases, the total return presented is representative of all units issued and outstanding at period end. |
**** | Subaccounts denoted indicate the underlying mutual fund option was initially added and funded during the period presented. Prior period presentation, which indicated the date the underlying mutual fund was initially added and funded, has been updated to conform with current period presentation. |
![]() |
KPMG LLP | |
Suite 500 191 West Nationwide Blvd. Columbus, OH 43215-2568 |
Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholder
Nationwide Life Insurance Company:
We have audited the accompanying consolidated balance sheets of Nationwide Life Insurance Company and subsidiaries (the Company) as of December 31, 2016 and 2015, and the related consolidated statements of operations, comprehensive income, equity, and cash flows for each of the years in the three-year period ended December 31, 2016. In connection with our audits of the consolidated financial statements, we also have audited the financial statement schedules as listed in the accompanying table of contents. These consolidated financial statements and financial statement schedules are the responsibility of the Companys management. Our responsibility is to express an opinion on these consolidated financial statements and financial statement schedules based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Nationwide Life Insurance Company and subsidiaries as of December 31, 2016 and 2015, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2016, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the related financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
/s/ KPMG LLP
Columbus, Ohio
February 28, 2017
KPMG LLP is a Delaware limited liability partnership, the U.S.
member firm of KPMG International Cooperative (KPMG
International), a Swiss entity.
1
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Consolidated Statements of Operations
Year ended December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Revenues |
||||||||||||
Policy charges |
$ | 2,361 | $ | 2,216 | $ | 2,065 | ||||||
Premiums |
642 | 786 | 831 | |||||||||
Net investment income |
2,139 | 1,982 | 1,900 | |||||||||
Net realized investment (losses) gains, including other-than-temporary impairment losses |
(111 | ) | 82 | (1,078 | ) | |||||||
Other revenues |
8 | 14 | 11 | |||||||||
|
|
|
|
|
|
|||||||
Total revenues |
$ | 5,039 | $ | 5,080 | $ | 3,729 | ||||||
|
|
|
|
|
|
|||||||
Benefits and expenses |
||||||||||||
Interest credited to policyholder account values |
$ | 1,406 | $ | 1,078 | $ | 1,096 | ||||||
Benefits and claims |
1,298 | 1,662 | 1,502 | |||||||||
Amortization of deferred policy acquisition costs |
433 | 68 | 207 | |||||||||
Other expenses, net of deferrals |
998 | 1,044 | 1,055 | |||||||||
|
|
|
|
|
|
|||||||
Total benefits and expenses |
$ | 4,135 | $ | 3,852 | $ | 3,860 | ||||||
|
|
|
|
|
|
|||||||
Income (loss) before federal income taxes and noncontrolling interests |
$ | 904 | $ | 1,228 | $ | (131 | ) | |||||
Federal income tax expense (benefit) |
126 | 293 | (147 | ) | ||||||||
|
|
|
|
|
|
|||||||
Net income |
$ | 778 | $ | 935 | $ | 16 | ||||||
Loss attributable to noncontrolling interests, net of tax |
(91 | ) | (96 | ) | (94 | ) | ||||||
|
|
|
|
|
|
|||||||
Net income attributable to Nationwide Life Insurance Company |
$ | 869 | $ | 1,031 | $ | 110 | ||||||
|
|
|
|
|
|
See accompanying notes to consolidated financial statements.
2
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Consolidated Statements of Comprehensive Income
Year ended December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Net income |
$ | 778 | $ | 935 | $ | 16 | ||||||
|
|
|
|
|
|
|||||||
Other comprehensive income (loss), net of tax |
||||||||||||
Changes in: |
||||||||||||
Net unrealized gains (losses) on available-for-sale securities |
$ | 237 | $ | (720 | ) | $ | 435 | |||||
Other |
22 | 43 | 27 | |||||||||
|
|
|
|
|
|
|||||||
Total other comprehensive income (loss), net of tax |
$ | 259 | $ | (677 | ) | $ | 462 | |||||
|
|
|
|
|
|
|||||||
Total comprehensive income |
$ | 1,037 | $ | 258 | $ | 478 | ||||||
Comprehensive loss attributable to noncontrolling interests, net of tax |
(91 | ) | (96 | ) | (94 | ) | ||||||
|
|
|
|
|
|
|||||||
Total comprehensive income attributable to Nationwide Life Insurance Company |
$ | 1,128 | $ | 354 | $ | 572 | ||||||
|
|
|
|
|
|
See accompanying notes to consolidated financial statements.
3
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Consolidated Balance Sheets
December 31, | ||||||||
(in millions, except for share and per share amounts) |
2016 | 2015 | ||||||
Assets |
||||||||
Investments: |
||||||||
Fixed maturity securities, available-for-sale |
$ | 43,690 | $ | 37,570 | ||||
Mortgage loans, net of allowance |
9,760 | 8,396 | ||||||
Policy loans |
989 | 993 | ||||||
Short-term investments |
1,944 | 766 | ||||||
Other investments |
1,111 | 943 | ||||||
|
|
|
|
|||||
Total investments |
$ | 57,494 | $ | 48,668 | ||||
Cash and cash equivalents |
92 | 67 | ||||||
Accrued investment income |
514 | 477 | ||||||
Deferred policy acquisition costs |
5,432 | 5,200 | ||||||
Goodwill |
200 | 200 | ||||||
Other assets |
2,835 | 2,328 | ||||||
Separate account assets |
89,071 | 87,238 | ||||||
|
|
|
|
|||||
Total assets |
$ | 155,638 | $ | 144,178 | ||||
|
|
|
|
|||||
Liabilities and equity |
||||||||
Liabilities |
||||||||
Future policy benefits and claims |
$ | 52,911 | $ | 45,397 | ||||
Short-term debt |
300 | 400 | ||||||
Long-term debt |
707 | 707 | ||||||
Other liabilities |
3,104 | 2,042 | ||||||
Separate account liabilities |
89,071 | 87,238 | ||||||
|
|
|
|
|||||
Total liabilities |
$ | 146,093 | $ | 135,784 | ||||
|
|
|
|
|||||
Shareholders equity |
||||||||
Common stock ($1 par value; authorized - 5,000,000 shares, issued and outstanding - 3,814,779 shares) |
$ | 4 | $ | 4 | ||||
Additional paid-in capital |
1,718 | 1,718 | ||||||
Retained earnings |
6,530 | 5,661 | ||||||
Accumulated other comprehensive income |
626 | 367 | ||||||
|
|
|
|
|||||
Total shareholders equity |
$ | 8,878 | $ | 7,750 | ||||
Noncontrolling interests |
667 | 644 | ||||||
|
|
|
|
|||||
Total equity |
$ | 9,545 | $ | 8,394 | ||||
|
|
|
|
|||||
Total liabilities and equity |
$ | 155,638 | $ | 144,178 | ||||
|
|
|
|
See accompanying notes to consolidated financial statements.
4
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Consolidated Statements of Equity
(in millions) |
Common stock |
Additional paid-in capital |
Retained earnings |
Accumulated other comprehensive income |
Total shareholders equity |
Non-controlling interest |
Total equity |
|||||||||||||||||||||
Balance as of December 31, 2013 |
$ | 4 | $ | 1,718 | $ | 4,520 | $ | 582 | $ | 6,824 | $ | 680 | $ | 7,504 | ||||||||||||||
Comprehensive income (loss): |
||||||||||||||||||||||||||||
Net income (loss) |
$ | | $ | | $ | 110 | $ | | $ | 110 | $ | (94 | ) | $ | 16 | |||||||||||||
Other comprehensive income |
| | | 462 | 462 | | 462 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total comprehensive income (loss) |
$ | | $ | | $ | 110 | $ | 462 | $ | 572 | $ | (94 | ) | $ | 478 | |||||||||||||
Change in noncontrolling interest |
| | | | | 54 | 54 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance as of December 31, 2014 |
$ | 4 | $ | 1,718 | $ | 4,630 | $ | 1,044 | $ | 7,396 | $ | 640 | $ | 8,036 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Comprehensive income (loss): |
||||||||||||||||||||||||||||
Net income (loss) |
$ | | $ | | $ | 1,031 | $ | | $ | 1,031 | $ | (96 | ) | $ | 935 | |||||||||||||
Other comprehensive (loss) |
| | | (677 | ) | (677 | ) | | (677 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total comprehensive income (loss) |
$ | | $ | | $ | 1,031 | $ | (677 | ) | $ | 354 | $ | (96 | ) | $ | 258 | ||||||||||||
Change in noncontrolling interest |
| | | | | 100 | 100 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance as of December 31, 2015 |
$ | 4 | $ | 1,718 | $ | 5,661 | $ | 367 | $ | 7,750 | $ | 644 | $ | 8,394 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Comprehensive income (loss): |
||||||||||||||||||||||||||||
Net income (loss) |
$ | | $ | | $ | 869 | $ | | $ | 869 | $ | (91 | ) | $ | 778 | |||||||||||||
Other comprehensive income |
| | | 259 | 259 | | 259 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total comprehensive income (loss) |
$ | | $ | | $ | 869 | $ | 259 | $ | 1,128 | $ | (91 | ) | $ | 1,037 | |||||||||||||
Change in noncontrolling interest |
| | | | | 114 | 114 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance as of December 31, 2016 |
$ | 4 | $ | 1,718 | $ | 6,530 | $ | 626 | $ | 8,878 | $ | 667 | $ | 9,545 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to consolidated financial statements.
5
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Consolidated Statements of Cash Flows
Year ended December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Cash flows from operating activities |
||||||||||||
Net income |
$ | 778 | $ | 935 | $ | 16 | ||||||
Adjustments to net income: |
||||||||||||
Net realized investment losses (gains), including other-than-temporary impairment losses |
111 | (82 | ) | 1,078 | ||||||||
Interest credited to policyholder account values |
1,406 | 1,078 | 1,096 | |||||||||
Capitalization of deferred policy acquisition costs |
(823 | ) | (870 | ) | (685 | ) | ||||||
Amortization of deferred policy acquisition costs |
433 | 68 | 207 | |||||||||
Amortization and depreciation |
81 | 107 | 128 | |||||||||
Deferred tax expense (benefit) |
65 | 217 | (152 | ) | ||||||||
Changes in: |
||||||||||||
Policy liabilities |
(680 | ) | (249 | ) | (421 | ) | ||||||
Derivatives, net |
(247 | ) | (141 | ) | (181 | ) | ||||||
Other, net |
(142 | ) | (280 | ) | (59 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash provided by operating activities |
$ | 982 | $ | 783 | $ | 1,027 | ||||||
|
|
|
|
|
|
|||||||
Cash flows from investing activities |
||||||||||||
Proceeds from maturities of available-for-sale securities |
$ | 3,007 | $ | 2,828 | $ | 2,798 | ||||||
Proceeds from sales of available-for-sale securities |
852 | 466 | 647 | |||||||||
Purchases of available-for-sale securities |
(8,938 | ) | (7,106 | ) | (5,640 | ) | ||||||
Proceeds from repayments and sales of mortgage loans |
792 | 1,027 | 920 | |||||||||
Issuances of mortgage loans |
(2,163 | ) | (2,155 | ) | (1,837 | ) | ||||||
Net (purchases) sales of short-term investments |
(1,174 | ) | 169 | (524 | ) | |||||||
Collateral received, net |
217 | 48 | 399 | |||||||||
Other, net |
(231 | ) | (136 | ) | (94 | ) | ||||||
|
|
|
|
|
|
|||||||
Net cash used in investing activities |
$ | (7,638 | ) | $ | (4,859 | ) | $ | (3,331 | ) | |||
|
|
|
|
|
|
|||||||
Cash flows from financing activities |
||||||||||||
Net change in short-term debt |
$ | (100 | ) | $ | (260 | ) | $ | 382 | ||||
Repayments of long-term debt |
| (2 | ) | | ||||||||
Investment and universal life insurance product deposits |
10,894 | 8,224 | 6,037 | |||||||||
Investment and universal life insurance product withdrawals |
(4,132 | ) | (3,884 | ) | (4,095 | ) | ||||||
Other, net |
19 | (12 | ) | (4 | ) | |||||||
|
|
|
|
|
|
|||||||
Net cash provided by financing activities |
$ | 6,681 | $ | 4,066 | $ | 2,320 | ||||||
|
|
|
|
|
|
|||||||
Net increase (decrease) in cash and cash equivalents |
$ | 25 | $ | (10 | ) | $ | 16 | |||||
Cash and cash equivalents at beginning of year |
67 | 77 | 61 | |||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents at end of year |
$ | 92 | $ | 67 | $ | 77 | ||||||
|
|
|
|
|
|
See accompanying notes to consolidated financial statements.
6
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(1) | Nature of Operations |
Nationwide Life Insurance Company (NLIC, or collectively with its subsidiaries, the Company) was incorporated in 1929 and is an Ohio domiciled stock life insurance company. The Company is a member of the Nationwide group of companies (Nationwide), which is comprised of Nationwide Mutual Insurance Company (NMIC) and all of its subsidiaries and affiliates.
All of the outstanding shares of NLICs common stock are owned by Nationwide Financial Services, Inc. (NFS), a holding company formed by Nationwide Corporation (Nationwide Corp.), a majority-owned subsidiary of NMIC.
The Company is a leading provider of long-term savings and retirement products in the United States of America (U.S.). The Company develops and sells a wide range of products and services, which include fixed and variable individual annuities, private and public sector group retirement plans, life insurance, investment advisory services and other investment products.
The Company sells its products through a diverse distribution network. Unaffiliated entities that sell the Companys products to their own customer bases include independent broker-dealers, financial institutions, wirehouse and regional firms, pension plan administrators and life insurance specialists. Representatives of affiliates who market products directly to a customer base include Nationwide Retirement Solutions, Inc. (NRS) and Nationwide Financial Network (NFN) producers, which includes the agency distribution force of the Companys ultimate parent company, NMIC.
Wholly-owned subsidiaries of NLIC as of December 31, 2016 include Nationwide Life and Annuity Insurance Company (NLAIC), Nationwide Investment Services Corporation (NISC), Nationwide Investment Advisor (NIA) and Eagle Captive Reinsurance, LLC (Eagle). NLAIC primarily offers universal life insurance, variable universal life insurance, term life insurance, corporate-owned life insurance (COLI) and individual annuity contracts on a non-participating basis. NISC is a registered broker-dealer. NIA is a registered investment advisor.
As of December 31, 2016 and 2015, the Company did not have a significant concentration of financial instruments in a single investee, industry or geographic region. Also, the Company did not have a concentration of business transactions with a particular customer, lender, distribution source, market or geographic region in which a single event could cause a severe impact on the Companys financial position after considering insurance risk that has been transferred to external reinsurers.
(2) | Summary of Significant Accounting Policies |
Basis of Presentation
The consolidated financial statements include the accounts of NLIC and companies in which NLIC directly or indirectly has a controlling financial interest. The consolidated financial statements include wholly-owned subsidiaries and consolidated variable interest entities (VIEs). All intercompany accounts and transactions have been eliminated.
Use of Estimates
The Companys consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). The preparation of the consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates include the balance and amortization of deferred policy acquisition costs (DAC), legal and regulatory reserves, certain investment and derivative valuations, future policy benefits and claims, goodwill, provision for income taxes and valuation of deferred tax assets. Actual results could differ significantly from those estimates.
7
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Revenues and Benefits
Investment and universal life insurance products. Investment products are long-duration contracts that do not subject the Company to significant risk arising from mortality (the incidence of death) or morbidity (the incidence of disability resulting from disease or physical impairment). These include variable and fixed deferred annuity contracts in the accumulation phase with individuals and groups, as well as certain annuities without life contingencies. Universal life insurance products include long-duration insurance contracts that do not have fixed or guaranteed terms. These include universal life insurance, variable universal life insurance, COLI, bank-owned life insurance (BOLI) and other interest-sensitive life insurance policies. Revenues for investment products and universal life insurance products consist of net investment income, surrender charges and other policy charges earned and assessed against policy account balances during the period. Policy charges are assessed on a daily or monthly basis and are recognized as revenue when assessed and earned. Assessments for services provided in future periods are recorded as unearned revenue and recognized as revenue over the periods benefited. Surrender charges are recognized as revenue upon surrender of a contract in accordance with contractual terms.
Traditional life insurance products. Traditional life insurance products include those products with fixed and guaranteed terms, primarily consisting of whole life insurance, term life insurance and certain annuities with life contingencies. Premiums for traditional life insurance products are generally recognized as revenue when due. For certain annuities with life contingencies, any excess of gross premium over the net premium is deferred and recognized with the amount of expected future benefits. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contract. This association is accomplished through the provision for future policy benefits and the deferral and amortization of policy acquisition costs.
Future Policy Benefits and Claims
Investment and universal life insurance products. The Company calculates its liability for future policy benefits and claims for investment products in the accumulation phase and for universal life insurance policies at the policy accrued account balance, which represents participants net deposits adjusted for investment performance, interest credited and applicable contract charges. Policy benefits and claims that are charged to expense include interest credited to policyholder accounts and benefits and claims incurred in the period in excess of related policyholder accounts.
The Company offers guarantees on variable and fixed indexed annuity products, which can include a return of no less than the total deposits made on the contract less any customer withdrawals, total deposits made on the contract less any customer withdrawals plus a minimum return, or the highest contract value on a specified anniversary date minus any customer withdrawals following the contract anniversary. These guarantees can also include benefits payable in the event of death, upon annuitization, upon periodic withdrawal or at specified dates during the accumulation period.
As part of its valuation procedures, the Company makes an assumption of the expected utilization of guarantee benefits by participants. Guarantees that include a benefit that is wholly life contingent or is expected to be exercised upon annuitization are accounted for as insurance liabilities that accumulate over time. Guarantees that are expected to be exercised using a net settlement option are accounted for as embedded derivatives, which are required to be separated and valued apart from the host variable annuity contracts.
Guaranteed minimum death benefits (GMDB) and certain guaranteed living withdrawal benefits (GLWB) on variable annuity and fixed annuity products, as well as no-lapse guarantees on universal life and variable universal life insurance products are accounted for as insurance liabilities. Liabilities for these guarantees are calculated by multiplying the current benefit ratio by the cumulative assessments recorded from contract inception through the balance sheet date, less the cumulative guaranteed benefit payments plus interest. The Company evaluates its experience and assumptions and adjusts the benefit ratio as appropriate. If experience or assumption changes result in a new benefit ratio, the reserves are adjusted to reflect the changes, with a related charge or credit to benefits and claims in the period of evaluation. Determination of the expected benefit payments and assessments are based on a range of scenarios and assumptions, including those related to market rates of return and volatility, contract surrenders and mortality experience. The accounting for these guarantees impacts estimated gross profits used to calculate the balance and amortization of DAC and other expenses.
8
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Certain GLWB that are expected to net settle on variable annuity products represent embedded derivatives which are held at fair value and include the present value of attributed fees. Subsequent changes in the fair value of the embedded derivatives are recognized in earnings as a component of net realized investment gains and losses. The fair value of the embedded derivatives is calculated based on a combination of capital market and actuarial assumptions. Projections of cash flows inherent in the valuation of the embedded derivatives incorporate numerous, unobservable assumptions including, but not limited to, mortality, lapse rates, index volatility, benefit utilization and discounting. Benefit utilization includes a wait period (the number of years the policyholder is assumed to wait prior to beginning withdrawals once eligible) and efficiency of benefit utilization (the percent of the maximum permitted withdrawal that a policyholder takes). Discounting includes liquidity and non-performance risk (the risk that the liability will not be fulfilled) and affects the value at which the liability is transferred. The Company derives these inputs, which vary widely by product, attained age, policy duration, benefits in the money and the existence of surrender charges, from experience and industry data.
The Company offers certain indexed life insurance and annuity products for which the policyholders interest credits are based on market performance with caps and floors. The interest credits represent embedded derivatives within the insurance contract and therefore are required to be separated and valued apart from the host contracts. The embedded derivatives are held at fair value. Subsequent changes in the fair value of the embedded derivatives are recognized in earnings as a component of interest credited. The fair value of the embedded derivatives is calculated based on a combination of capital market and actuarial assumptions. Projections of cash flows inherent in the valuation of the embedded derivatives incorporate numerous assumptions including, but not limited to, mortality, lapse rates and index volatility.
The assumptions used to calculate the fair value of embedded derivatives are reviewed as part of an annual comprehensive study of assumptions. Quarterly, consideration is given as to whether adjustments to these assumptions are necessary.
Traditional life and other insurance products. The process of calculating reserve amounts for traditional life insurance products involves the use of a number of assumptions, including those related to persistency (the percentage of insurance policies remaining in-force from year to year), mortality, morbidity, interest rates and certain other expenses.
The liability for future policy benefits and claims for traditional life insurance policies was determined using the net level premium method, with weighted average interest rates of 6.6% and estimates of mortality, morbidity, investment yields and persistency that were used or being experienced at the time the policies were issued, with a provision for adverse deviation.
The liability for future policy benefits for certain annuities with life contingencies was calculated using the present value of future benefits and certain expenses, discounted using weighted average interest rates of 4.6% with a provision for adverse deviation.
The Company issues fixed and floating rate funding agreements to the Federal Home Loan Bank of Cincinnati (FHLB). The liability for such funding agreements is recorded in future policy benefits and claims. The amount of collateralized funding agreements outstanding with the FHLB as of December 31, 2016 and 2015 was $2.3 billion. In connection with an FHLB requirement for funding agreements, the Company held $47 million and $46 million of FHLB stock as of December 31, 2016 and 2015, respectively.
The Company offers certain short duration traditional insurance, consisting primarily of accident and health contracts. These short duration insurance contracts are subject to an internal modified coinsurance treaty where activity including premiums, investment income, losses paid and adjustments to reserves, dividends paid and expenses incurred are ceded from NLIC to NMIC. The Companys reserve for short duration contracts was $72 million and $78 million as of December 31, 2016 and 2015, respectively.
Reinsurance Ceded
The Company cedes insurance to other companies in order to limit potential losses and to diversify its exposures. Such agreements do not relieve the original insurer from its primary obligation to the policyholder in the event the reinsurer is unable to meet the obligations it has assumed. Reinsurance premiums ceded and reinsurance recoveries on benefits and claims incurred are deducted from the respective income and expense accounts. Assets and liabilities related to reinsurance ceded are reported in the consolidated balance sheets on a gross basis, separately from the related future policy benefits and claims of the Company.
Under the terms of contracts held with certain unaffiliated reinsurers, specified assets have been placed in trusts as collateral for the recoveries. The trust assets are invested in investment grade securities, the fair value of which must at all times be greater than or equal to 100% of the reinsured reserves, as outlined in the underlying reinsurance contracts.
9
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Deferred Policy Acquisition Costs
The Company has deferred certain acquisition costs that are directly related to the successful acquisition of new and renewal insurance and investment contracts. The methods and assumptions used to amortize and assess recoverability of the DAC balance depend on the type of product.
Investment and universal life insurance products. For certain investment and universal life insurance products, DAC is amortized with interest over the lives of the policies in relation to the present value of estimated gross profits, which is determined primarily from projected interest margins, policy charges and net realized investment gains and losses, less policy benefits and other expenses. The DAC asset related to investment and universal life insurance products is adjusted to reflect the impact of unrealized gains and losses on available-for-sale securities, with the corresponding adjustment recorded in accumulated other comprehensive income (AOCI). This adjustment to DAC represents the change in amortization that would have been required as a charge or credit to earnings had such unrealized amounts been realized. DAC for investment and universal life insurance products is subject to recoverability testing in the year of policy issuance, and DAC for universal life insurance products is also subject to loss recognition testing at the end of each reporting period.
The assumptions used in the estimation of gross profits are based on the Companys current best estimates of future events and are reviewed as part of an annual comprehensive study of assumptions. The most significant assumptions that are involved in the estimation of future gross profits include future net general and separate account investment performance, surrender/lapse rates, interest margins, renewal premiums and mortality. Quarterly, consideration is given as to whether adjustments to these assumptions are necessary. The Company uses a reversion to the mean process to determine the assumption for the future net separate account investment performance. This process assumes different performance levels over the next three years, such that the separate account mean return, measured from the anchor date to the end of the life of the product, equals the long-term assumption. The Companys long-term assumptions for net separate account investment performance consist of assumed gross returns of 10.5% for equity funds and 5.0% for fixed funds.
Changes in assumptions can have a significant impact on the amount of DAC reported for investment and universal life insurance products and on their related amortization patterns. In the event actual experience differs from assumptions or future assumptions are revised, the Company will record an increase or decrease in DAC amortization expense, which could be significant.
Traditional life insurance products. DAC is amortized with interest over the premium-paying period of the related policies in proportion to premium revenue recognized. These assumptions are consistent with those used in the calculation of liabilities for future policy benefits at issuance. DAC is evaluated for recoverability in the year of policy issuance, and loss recognition testing is conducted each reporting period.
Refer to Note 5 for discussion regarding DAC amortization and related balances.
Investments
Available-for-sale securities. Available-for-sale securities are reported at fair value, with unrealized gains and losses reported as a separate component of other comprehensive income, net of adjustments for DAC, future policy benefits and claims, policyholder dividend obligations and deferred federal income taxes. Realized gains and losses on sales of available-for-sale securities are recognized in income based on the specific identification method. Interest and dividend income is recognized when earned.
As of December 31, 2016 and 2015, 99% of fixed maturity securities were priced using externally sourced data. Independent pricing services are most often utilized (86% as of December 31, 2016 and 2015) to determine the fair value of securities for which market quotations or quotations on comparable securities are available. For these securities, the Company obtains the pricing services methodologies, pricing from additional sources, and classifies the investments accordingly in the fair value hierarchy.
A corporate pricing matrix is used in valuing certain corporate debt securities. The corporate pricing matrix was developed using publicly and privately available spreads for privately placed corporate securities with varying weighted average lives and credit quality ratings. The weighted average life and credit quality rating of a particular fixed maturity security to be priced using the corporate pricing matrix are important inputs into the model and are used to determine a corresponding spread that is added to the appropriate U.S. Treasury yield to create an estimated market yield for that security. The estimated market yield and other relevant factors are then used to estimate the fair value of the particular security.
10
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Non-binding broker quotes are also utilized to determine the fair value of certain fixed maturity securities when deemed appropriate or when quotes are not available from independent pricing services or a corporate pricing matrix. These securities are classified with the lowest priority in the fair value hierarchy as only one broker quote is ordinarily obtained, the investment is not traded on an exchange, the pricing is not available to other entities and/or the transaction volume in the same or similar investments has decreased. Inputs used in the development of prices are not provided to the Company by the brokers, as the brokers often do not provide the necessary transparency into their quotes and methodologies. At least annually, the Company performs reviews and tests to ensure that quotes are a reasonable estimate of the investments fair value. Price movements of broker quotes are subject to validation and require approval from the Companys management. Management uses its knowledge of the investment and current market conditions to determine if the price is indicative of the investments fair value.
When the collectability of contractual interest payments on fixed maturity securities is considered doubtful, such securities are placed in non-accrual status and any accrued interest is excluded from investment income. These securities are not restored to accrual status until the Company determines that future payment of principal and interest is probable.
The Company has entered into securities lending agreements with a custodial bank whereby eligible securities are loaned to third parties, primarily major brokerage firms. These transactions are used to generate additional income in the securities portfolio. The Company is entitled to receive from the borrower any payments of interest and dividends received on loaned securities during the loan term. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as collateral. Cash collateral is invested by the custodial bank in investment-grade securities, which are included in the total investments of the Company. Additionally, the Company may receive non-cash collateral, which would be recorded off-balance sheet. As of December 31, 2016 and December 31, 2015, the fair value of the securities received as collateral and recorded off balance sheet is $331 million and $167 million, respectively. The Company recognizes loaned securities in available-for-sale investments. A securities lending payable is recorded in other liabilities for the amount of cash collateral received. Net income received from securities lending activities is included in net investment income. As of December 31, 2016 and 2015, the fair value of loaned securities was $541 million and $389 million, respectively.
For investments in certain residential and commercial mortgage-backed securities, the Company recognizes income and amortizes discounts and premiums using the effective-yield method, based on prepayment assumptions and the estimated economic life of the securities. When actual prepayments differ significantly from estimated prepayments, the effective-yield is recalculated to reflect actual payments to date and anticipated future payments. Any resulting adjustment is included in net investment income in the period the estimates are revised. All other investment income is recorded using the effective-yield method without anticipating the impact of prepayments.
The Company periodically reviews its available-for-sale securities to determine if any decline in fair value to below amortized cost is other-than-temporary. Factors considered in determining whether a decline is other-than-temporary include the length of time a security has been in an unrealized loss position, the severity of the unrealized loss, reasons for the decline in value and expectations for the amount and timing of a recovery in fair value.
In assessing corporate debt securities for other-than-temporary impairment (OTTI), the Company evaluates the ability of the issuer to meet its debt obligations, the value of the company or specific collateral securing the debt, the Companys intent to sell the security and whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost basis. The Company evaluates U.S. government and agencies and obligations of states and political subdivisions securities for OTTI by examining similar characteristics.
Mortgage-backed securities are assessed for impairment using default estimates based on loan level data, where available. Where loan level data is not available, a proxy based on collateral characteristics is used. The impairment assessment considers loss severity as a function of multiple factors, including unpaid balance, interest rate, mortgage insurance ratios, assessed property value at origination, change in property value, loan-to-value (LTV) ratio at origination and prepayment speeds. Cash flows generated by the collateral are then utilized, along with consideration of the instruments position in the overall structure, to determine cash flows associated with the security.
Certain asset-backed securities are assessed for impairment using expected cash flows based on various inputs, including default estimates based on the underlying corporate securities, historical and forecasted loss severities or other market inputs when recovery estimates are not feasible. When the collateral is regional bank and insurance company trust preferred securities, default estimates used to estimate cash flows are based on U.S. Bank Rating service data and broker research.
11
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The Company evaluates its intent to sell on an individual security basis. OTTI losses on securities when the Company does not intend to sell the security and it is not more likely than not it will be required to sell the security prior to recovery of the securitys amortized cost basis are bifurcated, with the credit related portion of the impairment loss being recognized in earnings and the non-credit related portion of the impairment loss and any subsequent changes in the fair value of those debt securities being recognized in other comprehensive income, net of applicable taxes and other offsets. To estimate the credit related portion of an impairment loss recognized in earnings, the Company considers the present value of the cash flows. To the extent that the present value of cash flows generated by a debt security is less than the amortized cost, an OTTI is recognized through earnings.
It is possible that further declines in fair values of such investments, or changes in assumptions or estimates of anticipated recoveries and/or cash flows, may cause further OTTI, which could be significant.
The Company invests in fixed maturity securities that could qualify as VIEs, including corporate securities, mortgage-backed securities and asset-backed securities. The Company is not the primary beneficiary of these securities as the Company does not have the power to direct the activities that most significantly impact the entities performance. The Companys potential loss is limited to the carrying values of these securities. There are no liquidity arrangements, guarantees or other commitments by third parties that affect the fair value of the Companys interest in these assets.
Mortgage loans, net of allowance. The Company holds commercial mortgage loans that are collateralized by properties throughout the U.S. These mortgage loans are further segregated into the following classes based on the unique risk profiles of the underlying property types: office, industrial, retail, apartment and other. Mortgage loans held-for-investment are held at amortized cost less a valuation allowance.
As part of the underwriting process, specific guidelines are followed to ensure the initial quality of a new mortgage loan. Third-party appraisals are obtained to support loaned amounts, as the loans are usually collateral dependent.
The collectability and value of a mortgage loan are based on the ability of the borrower to repay and/or the value of the underlying collateral. The Companys commercial mortgage loans are typically structured with balloon payment maturities, exposing the Company to risks associated with the borrowers ability to make the balloon payment or refinance the property.
Mortgage loans require a loan-specific reserve when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. When management determines that a loan requires a loan-specific reserve, a provision for loss is established equal to the difference between the carrying value and either the fair value of the collateral less costs to sell or the present value of expected future cash flows, discounted at the loans market interest rate. Loan-specific reserve charges are recorded in net realized investment gains and losses. In the event a loan-specific reserve charge is reversed, the recovery is also recorded in net realized investment gains and losses.
In addition to the loan-specific reserves, the Company maintains a non-specific reserve based primarily on loan surveillance categories and property type classes, which reflects managements best estimates of probable credit losses inherent in the portfolio of loans without specific reserves as of the balance sheet date. Managements periodic evaluation of the adequacy of the non-specific reserve is based on past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect a borrowers ability to repay, the estimated value of the underlying collateral, the composition of the loan portfolio, current economic conditions and other relevant factors. Non-specific reserve changes are recorded in net realized investment gains and losses.
Management evaluates the credit quality of individual commercial mortgage loans and the portfolio as a whole through a number of loan quality measurements, including but not limited to LTV and debt service coverage (DSC) ratios. The LTV ratio is calculated as a ratio of the amortized cost of a loan to the estimated value of the underlying collateral. DSC is the amount of cash flow generated by the underlying collateral of the mortgage loan available to meet periodic interest and principal payments of the loan. This process identifies commercial mortgage loans representing the lowest risk profile and lowest potential for loss and those representing the highest risk profile and highest potential for loss. These factors are updated and evaluated at least annually.
Interest income on performing mortgage loans is recognized over the life of the loan using the effective-yield method. Loans in default or in the process of foreclosure are placed on non-accrual status. Interest received on non-accrual status mortgage loans is included in net investment income in the period received. Loans are restored to accrual status when the principal and interest is current and it is determined the future principal and interest payments are probable or when the loan is modified. Loans are considered delinquent when contractual payments are 90 days past due.
12
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Policy loans. Policy loans, which are collateralized by the related insurance policy, are held at the outstanding principal balance and do not exceed the net cash surrender value of the policy. As such, no valuation allowance for policy loans is required.
Short-term investments. Short-term investments consist primarily of highly liquid mutual funds and government agency discount notes with maturities of twelve months or less at acquisition. The Company and various affiliates maintain agreements with Nationwide Cash Management Company (NCMC), an affiliate, under which NCMC acts as a common agent in handling the purchase and sale of short-term securities for the respective accounts of the participants. Amounts on deposit with NCMC for the benefit of the Company are included in short-term investments on the consolidated balance sheets. The Company carries short-term investments at fair value.
Other investments. Other investments consist primarily of alternative investments in private equity funds, private debt funds, tax credit funds and real estate partnerships and funds accounted for under the equity method, as well as trading securities, equity securities and capital stock with the FHLB. The Company applies mark-to-market accounting to trading securities and recognizes changes in fair value in net realized investment gains and losses.
The Company holds alternative investments as described above and applies the equity method of accounting to these investments as it does not have a controlling financial interest. The Company recognizes the change in equity method investments in net investment income. The Companys unfunded commitments related to these investments were $495 million and $315 million as of December 31, 2016 and 2015, respectively. The carrying value of these investments was $362 million and $199 million as of December 31, 2016 and 2015, respectively.
The Company has sold $1.5 billion and $1.4 billion in tax credit funds to unrelated third parties as of December 31, 2016 and 2015, respectively. The Company has guaranteed after-tax benefits to the third party investors through periods ending in 2032. These guarantees are in effect for periods of approximately 15 years each. The tax credit funds provide a stream of tax benefits to the investors that will generate a yield and return of capital. If the tax benefits are not sufficient to provide these cumulative after-tax yields, the Company must fund any shortfall. The maximum amount of undiscounted future payments that the Company could be required to pay the investors under the terms of the guarantees is $836 million, but the Company does not anticipate making any material payments related to the guarantees. The Companys risks are mitigated in the following ways: (1) the Company has the right to buyout the equity related to the guarantee under certain circumstances, (2) the Company may replace underperforming properties to mitigate exposure to guarantee payments and (3) the Company oversees the asset management of the deals.
In the normal course of business, the Company has relationships with VIEs. If the Company determines that it has a variable interest and is the primary beneficiary, it consolidates the VIE. The Company is the primary beneficiary if the Company has the power to direct the activities of the VIE that most significantly impact the economic performance of the entity and the obligation to absorb losses or receive benefits from the entity that could be potentially significant to the VIE. This determination is based on a review of the entitys contract and other deal-related information, such as the entitys equity investment at risk, decision-making abilities, obligations to absorb economic risks and right to receive economic rewards of the entity. These consolidated VIEs are primarily made up of the tax credit funds discussed above.
Net assets (controlling and noncontrolling interests) of all consolidated VIEs totaled $667 million and $644 million as of December 31, 2016 and 2015, respectively, and are included within the consolidated balance sheet primarily as other investments of $614 million, other assets of $77 million and other liabilities of $67 million as of December 31, 2016, and other investments of $585 million, other assets of $113 million and other liabilities of $67 million as of December 31, 2015. The Companys general credit is not exposed to the creditors or beneficial interest holders of these consolidated VIEs. The results of operations and financial positions of each VIE for which the Company is the primary beneficiary, as well as the corresponding noncontrolling interests, are recorded in the consolidated financial statements. Ownership interests held by unrelated third parties in the consolidated VIEs are presented as noncontrolling interests in the equity section of the consolidated financial statements. Losses attributable to noncontrolling interests are excluded from the net income attributable to the Company on the consolidated statements of operations.
The Company is not required and does not intend to provide financial or other support outside of contractual requirements to any VIE.
Derivative Instruments
The Company uses derivative instruments to manage exposures and mitigate risks primarily associated with interest rates, equity markets and foreign currency. These derivative instruments primarily include interest rate swaps, futures contracts and options. Certain features embedded in the Companys indexed products and certain variable annuity contracts require derivative accounting. All derivative instruments are held at fair value and are reflected as other assets or liabilities in the consolidated balance sheets.
13
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The fair value of derivative instruments is determined using various valuation techniques relying predominantly on observable market inputs. These inputs include interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels. In cases where observable inputs are not available, the Company will utilize non-binding broker quotes to determine fair value, and these instruments are classified accordingly in the fair value hierarchy. Price movements of these broker quotes are subject to validation and require approval from the Companys management. Management uses models to internally value the instruments for comparison to the values received through broker quotes.
For derivatives that are not designated for hedge accounting, the gain or loss on the derivative is recognized in net realized investment gains and losses.
For derivative instruments that are designated and qualify for cash flow hedge accounting, the effective portion of the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income and reclassified into earnings in the same period or periods that the hedged transaction impacts earnings. The ineffective portion of the derivatives change in value, if any, along with any of the derivatives change in value that is excluded from the assessment of hedge effectiveness, are recorded in net realized investment gains and losses.
The Companys derivative transaction counterparties are generally financial institutions. To reduce the credit risk associated with open contracts, the Company enters into master netting agreements, which permit the closeout and netting of transactions with the same counterparty upon the occurrence of certain events. In addition, the Company attempts to reduce credit risk by obtaining collateral from counterparties. The determination of the need for and the levels of collateral vary based on an assessment of the credit risk of the counterparty. The Company accepts collateral in the forms of cash and marketable securities. Non-cash collateral received is recorded off-balance sheet.
Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Companys view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. In determining fair value, the Company uses various methods, including market, income and cost approaches.
The Company categorizes its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.
The Company categorizes assets and liabilities held at fair value in the consolidated balance sheets as follows:
Level 1. Unadjusted quoted prices accessible in active markets for identical assets or liabilities at the measurement date and mutual funds, where the value per share (unit) is determined and published daily and is the basis for current transactions.
Level 2. Unadjusted quoted prices for similar assets or liabilities in active markets or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. Primary inputs to this valuation technique may include comparative trades, bid/asks, interest rate movements, U.S. Treasury rates, London Interbank Offered Rate (LIBOR), prime rates, cash flows, maturity dates, call ability, estimated prepayments and/or underlying collateral values.
Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect managements best estimates of the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs.
The Company reviews its fair value hierarchy classifications for assets and liabilities quarterly. Changes in the observability of significant valuation inputs identified during these reviews may trigger reclassifications. Reclassifications are reported as transfers at the beginning of the period in which the change occurs.
Fair Value Option. The Company assesses the fair value option election for newly acquired assets or liabilities on a prospective basis. There are no material assets or liabilities for which the Company has elected the fair value option.
14
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Cash and Cash Equivalents
Cash and cash equivalents include highly liquid investments with original maturities of less than three months.
Goodwill
In connection with business acquisitions, the Company recognizes goodwill as the excess of the purchase price or fair value of consideration exchanged over the fair values of tangible assets acquired, liabilities assumed and separately identified intangible assets. Goodwill is not amortized, but is evaluated for impairment at the reporting unit level annually. Goodwill of a reporting unit is tested for impairment on an interim basis, in addition to the annual evaluation, if an event occurs or circumstances change which would more likely than not reduce the fair value of a reporting unit below its carrying amount. If a reporting units fair value is less than its carrying value, the Company will calculate implied goodwill. Goodwill is impaired at the reporting unit level if its carrying value exceeds the implied value of its goodwill.
The process of evaluating goodwill for impairment requires several judgments and assumptions to be made to determine the fair value of the reporting units, including the method used to determine fair value, discount rates, expected levels of cash flows, revenues and earnings, and the selection of comparable companies used to develop market-based assumptions. The Company performed its 2016 annual impairment test and determined that no impairment was required. As of December 31, 2016 and 2015, there were no accumulated impairments.
Closed Block
In connection with the sponsored demutualization of Provident Mutual Life Insurance Company (Provident) prior to its acquisition by the Company, Provident established a closed block for the benefit of certain classes of individual participating policies that had a dividend scale payable in 2001. Assets were allocated to the closed block in an amount that produces cash flows which, together with anticipated revenues from closed block business, is reasonably expected to be sufficient to provide for (1) payment of policy benefits, specified expenses and taxes, and (2) the continuation of dividends throughout the life of the Provident policies included in the closed block based upon the dividend scales payable for 2001, if the experience underlying such dividend scales continues.
Assets allocated to the closed block benefit only the holders of the policies included in the closed block and will not revert to the benefit of the Company. No reallocation, transfer, borrowing or lending of assets can be made between the closed block and other portions of the Companys general account, any of its separate accounts, or any affiliate of the Company without the approval of the Pennsylvania Insurance Department and ODI. The closed block will remain in effect as long as any policy in the closed block is in force.
If, over time, the aggregate performance of the closed block assets and policies is better than was assumed in funding the closed block, dividends to policyholders will increase. If, over time, the aggregate performance of the closed block assets and policies is less favorable than was assumed in the funding, dividends to policyholders could be reduced. If the closed block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from the Companys assets outside of the closed block, which are general account assets.
The assets and liabilities allocated to the closed block are recorded in the Companys consolidated financial statements on the same basis as other similar assets and liabilities. The carrying amount of closed block liabilities in excess of the carrying amount of closed block assets at the date Provident was acquired by the Company represents the maximum future earnings from the assets and liabilities designated to the closed block that can be recognized in income, for the benefit of stockholders, over the period the policies in the closed block remain in force.
If actual cumulative earnings exceed expected cumulative earnings, the expected earnings are recognized in income. This is because the excess actual cumulative earnings over expected cumulative earnings, which represents undistributed accumulated earnings attributable to policyholders, is recorded as a policyholder dividend obligation. Therefore, the excess will be paid to closed block policyholders as an additional policyholder dividend expense in the future unless it is otherwise offset by future performance of the closed block that is less favorable than originally expected. If actual cumulative performance is less favorable than expected, actual earnings will be recognized in income.
The principal cash flow items that affect the amount of closed block assets and liabilities are premiums, net investment income, purchases and sales of investments, policyholder benefits, policyholder dividends, premium taxes and income taxes. The principal income and expense items excluded from the closed block are management and maintenance expenses, commissions and net investment income and realized gains and losses on investments held outside of the closed block that support the closed block business, all of which enter into the determination of total gross margins of closed block policies. See Note 10 for further disclosure.
15
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Separate Accounts
Separate account assets and liabilities represent contractholders funds that have been legally segregated into accounts with specific investment objectives. In the separate account, investment income and gains and losses on investments accrue directly to, and investment risk is borne by, the contractholder. Separate account assets are recorded at fair value, with the value of separate account liabilities set to equal the fair value of separate account assets. Separate account assets are primarily comprised of public, privately-registered and non-registered mutual funds, whose fair value is primarily based on the funds net asset value. Other separate account assets are recorded at fair value based on the methodology that is applicable to the underlying assets.
Federal Income Taxes
The Company recognizes deferred tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, net operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss in the years in which those temporary differences are expected to be recovered or settled. Under this method, the effect on deferred tax assets and liabilities due to a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce a deferred tax asset to the amount expected to be realized. Interest expense and any associated penalties which relate to tax years still subject to review by the Internal Revenue Service (IRS) are recorded as income tax expenses.
The Company provides for federal income taxes based on amounts the Company believes it ultimately will owe. Inherent in the provision for federal income taxes are estimates regarding the deductibility of certain items and the realization of certain tax credits. In the event the ultimate deductibility of certain items or the realization of certain tax credits differs from estimates, the Company may be required to change the provision for federal income taxes recorded in the consolidated financial statements, which could be significant.
Tax reserves are reviewed regularly and are adjusted as events occur that the Company believes impact its liability for additional taxes, such as the lapsing of applicable statutes of limitations, conclusion of tax audits or substantial agreement with taxing authorities on the deductibility/nondeductibility of uncertain items, additional exposure based on current calculations, identification of new issues, release of administrative guidance or rendering of a court decision affecting a particular tax issue. The Company believes its tax reserves reasonably provide for potential assessments that may result from IRS examinations and other tax-related matters for all open tax years.
The Company files with the NMIC consolidated federal income tax return. Prior to 2015, NLIC filed a separate consolidated federal income tax return with its subsidiaries.
Participating Business
Participating business, which refers to policies that participate in profits through policyholder dividends, represented approximately 3% of the Companys life insurance in force in 2016 and 2015 (4% in 2014) and 33% of the number of life insurance policies in force in 2016 (35% in 2015 and 37% in 2014). The provision for policyholder dividends was based on the respective years dividend scales and has been included in future policy benefits and claims in the consolidated balance sheets.
Subsequent Events
The Company evaluated subsequent events through February 28, 2017, the date the consolidated financial statements were issued.
(3) | Recently Issued Accounting Standards |
Adopted Accounting Standards
On January 1, 2016, the Company adopted ASU 2015-07, which amends ASC 820, Fair Value Measurements. The amended guidance eliminates the requirement to categorize investments using net asset value as a practical expedient for fair value within the fair value hierarchy. The adoption of this guidance resulted in changes to disclosures only. Refer to Note 8 for the disclosure in accordance with the adopted guidance.
On January 1, 2016, the Company adopted ASU 2015-09, which amends ASC 944, Financial Services-Insurance. The amended guidance requires additional disclosures for short duration insurance contracts. The adoption of this guidance had no material impact on the Companys consolidated financial statements. Refer to Note 2 for discussion on short duration insurance contracts.
16
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Pending Accounting Standards
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The amended guidance develops a single standard to recognize revenue when the identified performance obligation is satisfied. In August 2015, the FASB issued ASU 2015-14, Deferral of the Effective Date, which deferred the effective date of ASU 2014-09 by one year for all entities. The Company will adopt ASU 2014-09 for annual periods beginning January 1, 2018. The Company is currently in the process of determining the impact of adoption.
In January 2016, the FASB issued ASU 2016-01, Financial Instruments Overall: Recognition and Measurement of Financial Assets and Liabilities. The amended guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The Company will adopt the ASU for annual periods beginning January 1, 2018. The Company is currently in the process of determining the impact of adoption.
In February 2016, the FASB issued ASU 2016-02, Leases Section A Leases. The amended guidance introduces a new standard on leases that requires recognition of assets and liabilities arising from all leasing arrangements on the balance sheet. The Company will adopt the ASU for annual periods beginning January 1, 2019. The Company is currently in the process of determining the impact of adoption.
In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. The update clarifies that a change in the hedging derivatives counterparty does not, in and of itself, trigger de-designation of a hedging relationship provided that all other hedge accounting criteria continue to be met. The Company will adopt the ASU for annual periods beginning January 1, 2017. The adoption of this guidance will not have a material impact on the Companys consolidated financial statements.
In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments. The update clarifies that in assessing whether an embedded contingent put or call option is clearly and closely related to the debt host, an entity is required to perform only the four-step decision sequence as amended by the ASU. Consequently, the Company does not have to separately assess whether the event that triggers its ability to exercise the contingent option is itself indexed only to interest rates or credit risk. The Company will adopt the ASU for annual periods beginning January 1, 2017. The adoption of this guidance will not have a material impact on the Companys consolidated financial statements.
In March 2016, the FASB issued ASU 2016-07, Equity Method and Joint Ventures: Simplifying the Transition to the Equity method of Accounting. The update simplifies the equity method of accounting by eliminating the requirement to retrospectively apply the equity method to an investment that subsequently qualified for such accounting as a result of an increase in the level of ownership interest or degree of influence. Consequently, when an investment qualifies for equity method, the cost of acquiring the additional interest in the investee would be added to the current basis of the investors previously held interest, and the equity method would be applied subsequently from the date on which the investor obtains the ability to exercise significant influence over the investee. Unrealized holding gains or losses in accumulated other comprehensive income related to an available-for-sale security that becomes eligible for the equity method are to be recognized in earnings as of the date on which the investment qualifies for the equity method. The Company will adopt the ASU for annual periods beginning January 1, 2017. The adoption of this guidance will not have a material impact on the Companys consolidated financial statements.
In June 2016, the FASB issued ASU 2016-13, Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments. The guidance introduces a new approach for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. The Company will adopt the ASU for annual periods beginning January 1, 2020. The Company is currently in the process of determining the impact of adoption.
In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). The amended guidance clarifies how certain transactions should be classified in the statement of cash flows. The Company will adopt the ASU for annual periods beginning January 1, 2018. The Company is currently in the process of determining the impact of adoption.
17
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(4) | Certain Long-Duration Contracts |
Variable Annuity Contracts
The Company provides various forms of guarantees to benefit the related contractholders of variable annuity contracts issued through general and separate accounts. The primary guarantee types include GMDB and GLWB.
The GMDB, offered on variable annuity contracts, provides a specified minimum return upon death. Many of these death benefits are spousal, whereby a death benefit will be paid upon death of the first spouse. The survivor has the option to terminate the contract or continue it by having the death benefit paid into the contract and having a second death benefit paid upon the survivors death.
The GLWB, primarily offered in the Companys Lifetime Income products, are living benefits that provide for enhanced retirement income security without the liquidity loss associated with annuitization. The withdrawal rates vary based on the age when withdrawals begin and are applied to a benefit base to determine the guaranteed lifetime income amount available to a contractholder. The benefit base is equal to the variable annuity premium at contract issuance and may increase as a result of a feature driven by minimum return and contract duration.
Other guarantee types the Company previously offered include guaranteed minimum accumulation benefits (GMAB) and guaranteed minimum income benefits (GMIB). The GMAB is a living benefit that provides the contractholder with a guaranteed return of deposits, adjusted proportionately for withdrawals, after a specified time period (5, 7 or 10 years). The GMIB is a living benefit that provides the contractholder with a guaranteed annuitization stream of income. The separate account value subject to GMAB was $359 million and $496 million for the years ended December 31, 2016 and December 31, 2015, respectively. The separate account value subject to GMIB was $347 million and $380 million for the years ended December 31, 2016 and December 31, 2015, respectively. The net amount at risk, general account value, reserve balances and paid claims for GMAB and GMIB were immaterial for the years ended December 31, 2016 and 2015.
The following table summarizes information regarding variable annuity contracts with GMDB and GLWB invested in general and separate accounts, as of the dates indicated (a contract may contain multiple guarantees):
December 31, 2016 | December 31, 2015 | |||||||||||||||||||||||||||||||
(in millions) |
General account value |
Separate account value |
Net amount at risk1 |
Average age2 |
General account value |
Separate account value |
Net amount at risk1 |
Average age2 |
||||||||||||||||||||||||
Contracts with GMDB: |
||||||||||||||||||||||||||||||||
Return of net deposits |
$ | 922 | $ | 27,459 | $ | 76 | 66 | $ | 885 | $ | 24,452 | $ | 208 | 66 | ||||||||||||||||||
Minimum return or anniversary contract value |
1,813 | 31,380 | 555 | 71 | 1,817 | 31,511 | 1,133 | 70 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total contracts with GMDB |
$ | 2,735 | $ | 58,839 | $ | 631 | 69 | $ | 2,702 | $ | 55,963 | $ | 1,341 | 68 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Contracts with GLWB: |
||||||||||||||||||||||||||||||||
GLWB minimum return or anniversary contract value |
$ | 149 | $ | 34,974 | $ | 166 | 67 | $ | 141 | $ | 32,187 | $ | 142 | 67 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 | Net amount at risk is calculated on a policy-level basis and equals the respective guaranteed benefit less the account value (or zero if the account value exceeds the guaranteed benefit). |
2 | Represents the weighted average attained age of contractholders at the respective date. |
The following table summarizes the reserve balances for the primary guarantees on variable annuity contracts, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
GMDB |
$ | 170 | $ | 148 | ||||
GLWB |
$ | 297 | $ | 180 |
18
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
During 2016, the Company recognized an increase in the liability for future policy benefits and claims in conjunction with the annual comprehensive review of assumptions for guarantees on variable annuity contracts, primarily related to the Companys assumptions related to lapses, mortality, interest rates and market rates of return. For the year ended December 31, 2016, the updated assumptions resulted in an increase to life insurance benefits and claims of $62 million and lower amortization of DAC of $21 million.
During 2015, the Company recognized a net decrease in the liability for future policy benefits and claims in conjunction with the annual comprehensive review of assumptions, primarily related to the Companys assumptions of participant benefit utilization of the net settlement option within the GLWB. The Company updated its estimate to reduce expected utilization of the net settlement option. For the year ended December 31, 2015, the change in estimate resulted in net realized investment gains of $187 million, an increase to life insurance benefits and claims of $164 million and lower amortization of DAC of $28 million.
Paid claims for GMDB were $36 million and $20 million for the years ended December 31, 2016 and 2015, respectively. Paid claims for GLWB were immaterial for the years ended December 31, 2016 and 2015.
The following table summarizes the account balances of deferred variable annuity contracts with guarantees invested in separate accounts, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Mutual funds: |
||||||||
Bond |
$ | 5,986 | $ | 5,371 | ||||
Domestic equity |
48,824 | 46,469 | ||||||
International equity |
3,010 | 3,001 | ||||||
|
|
|
|
|||||
Total mutual funds |
$ | 57,820 | $ | 54,841 | ||||
Money market funds |
1,019 | 1,122 | ||||||
|
|
|
|
|||||
Total1 |
$ | 58,839 | $ | 55,963 | ||||
|
|
|
|
1 | Excludes $30.2 billion and $31.3 billion as of December 31, 2016 and 2015, respectively, of separate account assets not related to deferred variable annuity contracts with guarantees, primarily attributable to retirement plan, variable universal life and COLI products. |
Fixed Annuity Contracts
The Company offers certain fixed indexed annuity products with GMDB and GLWB. As of December 31, 2016 and 2015, the general account value for contracts with GMDB was $5.2 billion and $2.7 billion, respectively, which includes $2.5 billion and $1.4 billion, respectively, of general account value relating to contracts that also have GLWB. The net amount at risk, reserve balance and paid claims for these guarantees were immaterial as of December 31, 2016 and 2015.
Universal and Variable Universal Life Insurance Contracts
The Company offers certain universal life and variable universal life insurance products with no-lapse guarantees. These no-lapse guarantees provide that a policy will not lapse so long as the policyholder makes minimum premium payments. The reserve balances on these guarantees were $710 million and $548 million as of December 31, 2016 and 2015, respectively. Paid claims on these guarantees were immaterial for the years ended December 31, 2016 and 2015.
The following table summarizes information regarding universal and variable universal life insurance contracts with no-lapse guarantees invested in general and separate accounts, as of the dates indicated:
(in millions) |
General account value |
Separate account value |
Adjusted insurance in force1 |
Average age2 |
||||||||||||
December 31, 2016 |
$ | 2,991 | $ | 2,117 | $ | 55,053 | 51 | |||||||||
December 31, 2015 |
$ | 2,473 | $ | 2,053 | $ | 48,140 | 51 |
1 | The adjusted insurance in force is calculated on a policy-level basis and equals the respective guaranteed death benefit less the account value and reinsurance. |
2 | Represents the weighted average attained age of contractholders at the respective date. |
19
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(5) | Deferred Policy Acquisition Costs |
The following table summarizes changes in the DAC balance, as of the dates indicated:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Balance at beginning of year |
$ | 5,200 | $ | 4,063 | $ | 3,778 | ||||||
Capitalization of DAC |
823 | 870 | 685 | |||||||||
Amortization of DAC, excluding unlocks |
(412 | ) | (326 | ) | (397 | ) | ||||||
Amortization of DAC related to unlocks |
(21 | ) | 258 | 190 | ||||||||
Adjustments to DAC related to unrealized gains and losses on available- for-sale securities |
(158 | ) | 335 | (193 | ) | |||||||
|
|
|
|
|
|
|||||||
Balance at end of year |
$ | 5,432 | $ | 5,200 | $ | 4,063 | ||||||
|
|
|
|
|
|
During 2016, the Company conducted its annual comprehensive review of model assumptions used to project DAC and other related balances, including valuation of business acquired (VOBA) and unearned revenue reserves. As part of this review, the Company recognized an increase in amortization for DAC of $21 million and a decrease in amortization for other related balances of $75 million. The updated assumptions were primarily related to a decrease in expected lapse rates and mortality performance. This was partially offset by updated assumptions for persistency, interest rates and market rates of return.
During 2015, the Company recognized a decrease in amortization for DAC of $258 million and decrease in amortization for other related balances of $21 million as a result of the annual comprehensive review of model assumptions and enhancements. The updated assumptions were primarily related to revisions made to the Companys economic hedging strategies in conjunction with the change in estimate discussed in Note 4, as well as a decrease in the expected lapse rates for certain variable annuity products.
During 2014, the Company recognized a decrease in amortization for DAC of $190 million and decrease in amortization for other related balances of $15 million as a result of the annual comprehensive review of model assumptions and enhancements. The updated assumptions were primarily related to the actual performance of the block of business since the prior year review and the expectations for lapses, partially offset by an update to the Companys long-term assumptions for separate account investment performance.
20
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(6) | Investments |
Available-for-Sale Securities
The following table summarizes the amortized cost, unrealized gains and losses and fair value of available-for-sale securities, as of the dates indicated:
(in millions) |
Amortized cost |
Unrealized gains |
Unrealized losses |
Fair value | ||||||||||||
December 31, 2016 |
||||||||||||||||
Fixed maturity securities: |
||||||||||||||||
U.S. government and agencies |
$ | 596 | $ | 49 | $ | | $ | 645 | ||||||||
Obligations of states, political subdivisions and foreign governments |
2,454 | 265 | 23 | 2,696 | ||||||||||||
Corporate public securities |
27,355 | 1,049 | 350 | 28,054 | ||||||||||||
Corporate private securities |
5,731 | 227 | 147 | 5,811 | ||||||||||||
Residential mortgage-backed securities |
3,161 | 126 | 39 | 3,248 | ||||||||||||
Commercial mortgage-backed securities |
1,260 | 23 | 4 | 1,279 | ||||||||||||
Asset-backed securities |
1,967 | 30 | 40 | 1,957 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total fixed maturity securities |
$ | 42,524 | $ | 1,769 | $ | 603 | $ | 43,690 | ||||||||
Equity securities |
2 | 8 | | 10 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total available-for-sale securities |
$ | 42,526 | $ | 1,777 | $ | 603 | $ | 43,700 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
December 31, 2015 |
||||||||||||||||
Fixed maturity securities: |
||||||||||||||||
U.S. government and agencies |
$ | 343 | $ | 59 | $ | | $ | 402 | ||||||||
Obligations of states, political subdivisions and foreign governments |
2,137 | 241 | 11 | 2,367 | ||||||||||||
Corporate public securities |
23,174 | 868 | 752 | 23,290 | ||||||||||||
Corporate private securities |
5,082 | 203 | 115 | 5,170 | ||||||||||||
Residential mortgage-backed securities |
3,036 | 152 | 42 | 3,146 | ||||||||||||
Commercial mortgage-backed securities |
1,539 | 37 | 11 | 1,565 | ||||||||||||
Asset-backed securities |
1,685 | 19 | 74 | 1,630 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total fixed maturity securities |
$ | 36,996 | $ | 1,579 | $ | 1,005 | $ | 37,570 | ||||||||
Equity securities |
7 | 14 | | 21 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total available-for-sale securities |
$ | 37,003 | $ | 1,593 | $ | 1,005 | $ | 37,591 | ||||||||
|
|
|
|
|
|
|
|
The fair value of the Companys available-for-sale securities may fluctuate significantly in response to changes in interest rates, investment quality ratings and credit spreads. The Company has the ability and intent to hold equity securities until anticipated recovery. The Company does not have the intent to sell, nor is it more likely than not that it will be required to sell, fixed maturity securities in an unrealized loss position.
21
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes the amortized cost and fair value of fixed maturity securities, by contractual maturity, as of December 31, 2016. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without early redemption penalties.
(in millions) |
Amortized cost |
Fair value |
||||||
Fixed maturity securities: |
||||||||
Due in one year or less |
$ | 1,122 | $ | 1,135 | ||||
Due after one year through five years |
11,637 | 12,127 | ||||||
Due after five years through ten years |
11,677 | 11,727 | ||||||
Due after ten years |
11,700 | 12,217 | ||||||
|
|
|
|
|||||
Subtotal |
$ | 36,136 | $ | 37,206 | ||||
Residential mortgage-backed securities |
3,161 | 3,248 | ||||||
Commercial mortgage-backed securities |
1,260 | 1,279 | ||||||
Asset-backed securities |
1,967 | 1,957 | ||||||
|
|
|
|
|||||
Total fixed maturity securities |
$ | 42,524 | $ | 43,690 | ||||
|
|
|
|
The following table summarizes the components of net unrealized gains and losses, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Net unrealized gains on available-for-sale securities, before adjustments and taxes1 |
$ | 1,174 | $ | 588 | ||||
Adjustment to DAC |
(191 | ) | (33 | ) | ||||
Adjustment to future policy benefits and claims |
(68 | ) | (16 | ) | ||||
Adjustment to policyholder dividend obligation |
(74 | ) | (67 | ) | ||||
Deferred federal income tax expense |
(288 | ) | (156 | ) | ||||
|
|
|
|
|||||
Net unrealized gains on available-for-sale securities |
$ | 553 | $ | 316 | ||||
|
|
|
|
1 | Includes net unrealized gains (losses) of $1 million and ($20) million as of December 31, 2016 and 2015, respectively, related to the non-credit portion of other-than-temporarily impaired securities. |
The following table summarizes the change in net unrealized gains and losses reported in accumulated other comprehensive income, for the years ended:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Balance at beginning of year |
$ | 316 | $ | 1,036 | ||||
Unrealized gains and losses arising during the year: |
||||||||
Net unrealized gains (losses) on available-for-sale securities before adjustments |
499 | (1,662 | ) | |||||
Non-credit impairments and subsequent changes in fair value of impaired debt securities |
21 | (11 | ) | |||||
Net adjustment to DAC and other expense |
(158 | ) | 339 | |||||
Net adjustment to future policy benefits and claims |
(52 | ) | 143 | |||||
Net adjustment to policyholder dividend obligations |
(7 | ) | 53 | |||||
Related federal income tax (expense) benefit |
(109 | ) | 401 | |||||
|
|
|
|
|||||
Unrealized gains (losses) on available-for-sale securities |
$ | 194 | $ | (737 | ) | |||
Less: Reclassification adjustment for net losses realized on available-for-sale securities, net of tax benefit ($23 and $9 as of December 31, 2016 and 2015, respectively) |
(43 | ) | (17 | ) | ||||
|
|
|
|
|||||
Net unrealized gains (losses) on available-for-sale securities |
$ | 237 | $ | (720 | ) | |||
|
|
|
|
|||||
Balance at end of year |
$ | 553 | $ | 316 | ||||
|
|
|
|
22
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes, by asset class, available-for-sale securities, in an unrealized loss position based on the amount of time each type of security has been in an unrealized loss position, as well as the related fair value, as of the dates indicated:
Less than or equal to one year | More than one year | Total | ||||||||||||||||||
(in millions) |
Fair value |
Unrealized losses |
Fair value |
Unrealized losses |
Unrealized losses1 |
|||||||||||||||
December 31, 2016 |
||||||||||||||||||||
Fixed maturity securities: |
||||||||||||||||||||
Corporate public securities |
$ | 7,315 | $ | 255 | $ | 990 | $ | 95 | $ | 350 | ||||||||||
Corporate private securities |
1,447 | 65 | 508 | 82 | 147 | |||||||||||||||
Residential mortgage-backed securities |
303 | 6 | 397 | 33 | 39 | |||||||||||||||
Asset-backed securities |
327 | 1 | 365 | 39 | 40 | |||||||||||||||
Other |
716 | 21 | 94 | 6 | 27 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total 2 |
$ | 10,108 | $ | 348 | $ | 2,354 | $ | 255 | $ | 603 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
December 31, 2015 |
||||||||||||||||||||
Fixed maturity securities: |
||||||||||||||||||||
Corporate public securities |
$ | 8,170 | $ | 455 | $ | 975 | $ | 297 | $ | 752 | ||||||||||
Corporate private securities |
1,642 | 56 | 418 | 59 | 115 | |||||||||||||||
Residential mortgage-backed securities |
427 | 3 | 423 | 39 | 42 | |||||||||||||||
Asset-backed securities |
654 | 7 | 756 | 67 | 74 | |||||||||||||||
Other |
844 | 20 | 81 | 2 | 22 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total2 |
$ | 11,737 | $ | 541 | $ | 2,653 | $ | 464 | $ | 1,005 | ||||||||||
|
|
|
|
|
|
|
|
|
|
1 | As of December 31, 2016 and 2015, there were $118 million and $448 million, respectively, of unrealized losses related to available-for-sale securities with a fair value to amortized cost ratio of less than 80%. |
2 | Represents 946 and 1,059 available-for-sale securities in an unrealized loss position as of December 31, 2016 and 2015, respectively. |
The Company believes the unrealized losses on these available-for-sale securities represent temporary fluctuations in economic factors that are not indicative of OTTI.
Mortgage Loans, Net of Allowance
The following table summarizes the amortized cost of mortgage loans by method of evaluation for credit loss, and the related valuation allowances by type of credit loss, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Amortized cost: |
||||||||
Loans with non-specific reserves |
$ | 9,775 | $ | 8,403 | ||||
Loans with specific reserves1 |
17 | 19 | ||||||
|
|
|
|
|||||
Total amortized cost |
$ | 9,792 | $ | 8,422 | ||||
|
|
|
|
|||||
Valuation allowance: |
||||||||
Non-specific reserves |
$ | 28 | $ | 23 | ||||
Specific reserves |
4 | 3 | ||||||
|
|
|
|
|||||
Total valuation allowance2 |
$ | 32 | $ | 26 | ||||
|
|
|
|
|||||
Mortgage loans, net of allowance |
$ | 9,760 | $ | 8,396 | ||||
|
|
|
|
1 | Interest income recognized on mortgage loans with a specific reserve was immaterial for the years ended December 31, 2016, 2015 and 2014. The average recorded investment was $18 million, $14 million and $16 million for the years ended December 31, 2016, 2015 and 2014, respectively. |
2 | Changes in the valuation allowance are due to current period provisions and recoveries. These changes in the valuation allowance for the years ended December 31, 2016, 2015 and 2014 were immaterial. |
23
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
As of December 31, 2016 and 2015, the Companys mortgage loans classified as delinquent and/or in non-accrual status were immaterial in relation to the total mortgage loan portfolio. The Company had no mortgage loans 90 days or more past due and still accruing interest.
The following table summarizes the LTV ratio and DSC ratios of the mortgage loan portfolio, as of the dates indicated:
LTV ratio | DSC ratio | |||||||||||||||||||||||
(in millions) |
Less than 90% |
90% or greater |
Total1 | Greater than 1.00 |
Less than 1.00 |
Total1 | ||||||||||||||||||
December 31, 2016 |
||||||||||||||||||||||||
Apartment |
$ | 3,503 | $ | 11 | $ | 3,514 | $ | 3,514 | $ | | $ | 3,514 | ||||||||||||
Industrial |
1,459 | 14 | 1,473 | 1,439 | 34 | 1,473 | ||||||||||||||||||
Office |
1,570 | 3 | 1,573 | 1,539 | 34 | 1,573 | ||||||||||||||||||
Retail |
2,850 | 30 | 2,880 | 2,866 | 14 | 2,880 | ||||||||||||||||||
Other |
352 | | 352 | 352 | | 352 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total2 |
$ | 9,734 | $ | 58 | $ | 9,792 | $ | 9,710 | $ | 82 | $ | 9,792 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
December 31, 2015 |
||||||||||||||||||||||||
Apartment |
$ | 2,791 | $ | | $ | 2,791 | $ | 2,791 | $ | | $ | 2,791 | ||||||||||||
Industrial |
1,221 | 25 | 1,246 | 1,193 | 53 | 1,246 | ||||||||||||||||||
Office |
1,318 | 3 | 1,321 | 1,286 | 35 | 1,321 | ||||||||||||||||||
Retail |
2,765 | 2 | 2,767 | 2,756 | 11 | 2,767 | ||||||||||||||||||
Other |
297 | | 297 | 297 | | 297 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total3 |
$ | 8,392 | $ | 30 | $ | 8,422 | $ | 8,323 | $ | 99 | $ | 8,422 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
1 | While these loan quality measurements contribute to managements assessment of relative credit risk in the commercial mortgage loan portfolio for the dates indicated, based on underwriting criteria and ongoing assessment of the properties performance, management believes the amounts, net of valuation allowance, are collectible. |
2 | As of December 31, 2016, the weighted average DSC ratios for the respective LTV ratio ranges above were 2.05 and 1.26, with a total weighted average DSC ratio of 2.04. As of December 31, 2016, the weighted average LTV ratios for the respective DSC ratio ranges above were 58% and 74%, with a total weighted average LTV ratio of 59%. |
3 | As of December 31, 2015, the weighted average DSC ratios for the respective LTV ratio ranges above were 2.02 and 0.83, with a total weighted average DSC ratio of 2.02. As of December 31, 2015, the weighted average LTV ratios for the respective DSC ratio ranges above were 60% and 85%, with a total weighted average LTV ratio of 60%. |
Available-For-Sale Securities on Deposit, Held in Trust and Pledged as Collateral
Available-for-sale securities with a carrying value of $10 million and $8 million were on deposit with various regulatory agencies as required by law as of December 31, 2016 and 2015, respectively. Additionally, available-for-sale securities with a carrying value of $260 million and $538 million were pledged as collateral to secure recoveries under reinsurance contracts and other funding agreements as of December 31, 2016 and 2015, respectively. These securities are primarily included in fixed maturity securities in the consolidated balance sheets.
24
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Net Investment Income
The following table summarizes net investment income, by investment type, for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Fixed maturity securities, available-for-sale |
$ | 1,781 | $ | 1,646 | $ | 1,575 | ||||||
Mortgage loans |
407 | 390 | 362 | |||||||||
Alternative Investments |
(60 | ) | (56 | ) | (32 | ) | ||||||
Policy loans |
52 | 51 | 51 | |||||||||
Other |
21 | 12 | 3 | |||||||||
|
|
|
|
|
|
|||||||
Gross investment income |
$ | 2,201 | $ | 2,043 | $ | 1,959 | ||||||
Investment expenses |
62 | 61 | 59 | |||||||||
|
|
|
|
|
|
|||||||
Net investment income |
$ | 2,139 | $ | 1,982 | $ | 1,900 | ||||||
|
|
|
|
|
|
Net Realized Investment Gains and Losses, Including Other-Than-Temporary Impairments
The following table summarizes net realized investment gains and losses, including other-than-temporary impairments, by source, for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Realized gains on sales1 |
$ | 50 | $ | 15 | $ | 31 | ||||||
Realized losses on sales1 |
(90 | ) | (41 | ) | (19 | ) | ||||||
Net realized derivative (losses) gains |
(42 | ) | 120 | (1,087 | ) | |||||||
Valuation losses and other |
(3 | ) | (11 | ) | 2 | |||||||
OTTI losses2 |
(26 | ) | (1 | ) | (5 | ) | ||||||
|
|
|
|
|
|
|||||||
Net realized investment (losses) gains |
$ | (111 | ) | $ | 82 | $ | (1,078 | ) | ||||
|
|
|
|
|
|
1 | Proceeds from the sale of available-for-sale securities were $852 million, $466 million and $647 million during the years ended December 31, 2016, 2015 and 2014, respectively. Gross gains of $49 million, $11 million and $17 million and gross losses of $89 million, $36 million and $10 million were realized on sales of available-for-sale securities during the years ended December 31, 2016, 2015 and 2014, respectively. |
2 | OTTI on fixed maturity securities excludes $6 million, $2 million and $1 million of non-credit losses included in other comprehensive income for the years ended December 31, 2016, 2015 and 2014, respectively. |
The following table summarizes the cumulative credit losses, for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Cumulative credit losses at beginning of year1 |
$ | (224 | ) | $ | (254 | ) | $ | (272 | ) | |||
New credit losses |
(22 | ) | (1 | ) | (2 | ) | ||||||
Incremental credit losses |
| | (4 | ) | ||||||||
Losses related to securities included in the beginning balance sold or paid down during the period |
51 | 31 | 24 | |||||||||
|
|
|
|
|
|
|||||||
Cumulative credit losses at end of year1 |
$ | (195 | ) | $ | (224 | ) | $ | (254 | ) | |||
|
|
|
|
|
|
1 | Cumulative credit losses are defined as amounts related to the Companys credit portion of the OTTI losses on debt securities that the Company does not intend to sell and that it is not more likely than not the Company will be required to sell prior to recovery of the amortized cost basis. |
25
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(7) | Derivative Instruments |
The Company is exposed to certain risks related to its ongoing business operations which are managed using derivative instruments.
Interest rate risk management. In the normal course of business, the Company enters into transactions that expose the Company to interest rate risk arising from mismatches between assets and liabilities. The Company uses interest rate swaps and futures to reduce or alter interest rate exposure.
Interest rate contracts are used by the Company in association with fixed and variable rate investments to achieve cash flow streams that support certain financial obligations of the Company and to produce desired investment returns. As such, interest rate contracts are generally used to convert fixed rate cash flow streams to variable rate cash flow streams or vice versa. In addition, prior to expiry in June 2015, the Company engaged in an interest rate swap program, which was structured to provide an offset against the negative impact of higher interest rates on the Companys statutory surplus position and to mitigate the negative impact of lower interest rates on certain guarantees related to variable annuity contracts.
Equity market risk management. The Company issues a variety of insurance and annuity products that expose the Company to equity risks. To mitigate these risks, the Company enters into a variety of derivatives including equity index futures, options and total return swaps.
Other risk management. As part of its regular investing activities, the Company may purchase foreign currency denominated investments. These investments and the associated income expose the Company to volatility associated with movements in foreign exchange rates. As foreign exchange rates change, the increase or decrease in the cash flows of the derivative instrument are intended to mitigate the changes in the functional-currency equivalent cash flows of the hedged item. To mitigate this risk, the Company uses cross-currency swaps, which are included in other derivative contracts in the following tables.
Credit risk associated with derivatives transactions. The Company periodically evaluates the risks within the derivative portfolios due to credit exposure. When evaluating these risks, the Company considers several factors which include, but are not limited to, the counterparty credit risk associated with derivative receivables, the Companys own credit as it relates to derivative payables, the collateral thresholds associated with each counterparty and changes in relevant market data in order to gain insight into the probability of default by the counterparty. The Company also considers the impact credit exposure could have on the effectiveness of the Companys hedging relationships. As of December 31, 2016 and 2015, the impact of the exposure to credit risk on the fair value measurement of derivatives and the effectiveness of the Companys hedging relationships was immaterial.
26
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes the fair value and related notional amounts of derivative instruments, as of the dates indicated:
Derivative assets | Derivative liabilities | |||||||||||||||
(in millions) |
Fair value | Notional | Fair value | Notional | ||||||||||||
December 31, 2016 |
||||||||||||||||
Derivatives designated and qualifying as hedging instruments |
$ | 128 | $ | 942 | $ | 11 | $ | 288 | ||||||||
Derivatives not designated as hedging instruments: |
||||||||||||||||
Interest rate contracts |
$ | 75 | $ | 2,078 | $ | 110 | $ | 1,681 | ||||||||
Equity contracts |
633 | 9,562 | | | ||||||||||||
Total return swaps and other derivative contracts |
| | 2 | 2 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total derivatives1 |
$ | 836 | $ | 12,582 | $ | 123 | $ | 1,971 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
December 31, 2015 |
||||||||||||||||
Derivatives designated and qualifying as hedging instruments |
$ | 86 | $ | 725 | $ | 2 | $ | 89 | ||||||||
Derivatives not designated as hedging instruments: |
||||||||||||||||
Interest rate contracts |
$ | 39 | $ | 875 | $ | 98 | $ | 1,059 | ||||||||
Equity contracts |
445 | 7,329 | | | ||||||||||||
Total return swaps and other derivative contracts |
| 77 | 6 | 2 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total derivatives1 |
$ | 570 | $ | 9,006 | $ | 106 | $ | 1,150 | ||||||||
|
|
|
|
|
|
|
|
1 | Fair value balance excludes accrued interest on derivative assets and liabilities of $10 million and $11 million, respectively, as of December 31, 2016 and 2015. |
Of the $836 million and $570 million of fair value of total derivative assets at December 31, 2016 and 2015, $71 million and $48 million, respectively, are subject to master netting agreements. The Company received $660 million and $374 million of cash collateral and held $89 million and $99 million, respectively, of securities as off-balance sheet collateral, resulting in an immaterial uncollateralized position as of December 31, 2016 and 2015. Of the $123 million and $106 million of fair value of total derivative liabilities at December 31, 2016 and 2015, $71 million and $48 million are subject to master netting agreements, respectively. The Company posted $151 million and $92 million of cash collateral and pledged securities with a fair value of $54 million and $64 million, respectively, resulting in an immaterial uncollateralized position as of December 31, 2016 and 2015.
The following table summarizes gains and losses for derivative instruments recognized in net realized investment gains and losses in the consolidated statements of operations, for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Derivatives not designated as hedging instruments: |
||||||||||||
Interest rate contracts |
$ | 13 | $ | (141 | ) | $ | 142 | |||||
Equity contracts |
(81 | ) | (257 | ) | (79 | ) | ||||||
Total return swaps |
| (44 | ) | (195 | ) | |||||||
Other derivative contracts |
8 | (6 | ) | 4 | ||||||||
Net interest settlements |
(2 | ) | 32 | 20 | ||||||||
|
|
|
|
|
|
|||||||
Total derivative losses1 |
$ | (62 | ) | $ | (416 | ) | $ | (108 | ) | |||
Change in embedded derivative liabilities and related fees2 |
20 | 536 | (979 | ) | ||||||||
|
|
|
|
|
|
|||||||
Net realized derivative (losses) gains |
$ | (42 | ) | $ | 120 | $ | (1,087 | ) | ||||
|
|
|
|
|
|
1 | Included in total derivative losses are economic hedging (losses) gains of $(2) million, $(402) million and $941 million related to the guaranteed benefit annuity programs for the years ended December 31, 2016, 2015 and 2014, respectively. Included in total derivative (losses) gains for the year ended December 31, 2015 and 2014 are economic hedging gains (losses) of $52 million and $(1.0) billion related to the program that protects against the negative impact of higher interest rates on the Companys statutory surplus position through expiry. |
2 | The annual comprehensive review of model assumptions for the individual variable annuity business produced an immaterial impact for the year ended December 31, 2016. The annual review produced a favorable impact for the year ended December 31, 2015, attributable to the change in estimate discussed in Note 4. The annual review produced a favorable impact for the year ended December 31, 2014, primarily due to model enhancements and updated assumptions for discounting and benefit utilization, partially offset by mortality and lapse rates. |
27
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(8) | Fair Value Measurements |
The following table summarizes assets and liabilities held at fair value on a recurring basis as of December 31, 2016:
(in millions) |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Investments: |
||||||||||||||||
Fixed maturity securities, available-for-sale: |
||||||||||||||||
U.S. government and agencies |
$ | 642 | $ | 1 | $ | 2 | $ | 645 | ||||||||
Obligations of states, political subdivisions and foreign governments |
57 | 2,639 | | 2,696 | ||||||||||||
Corporate public securities |
| 27,845 | 209 | 28,054 | ||||||||||||
Corporate private securities |
| 4,747 | 1,064 | 5,811 | ||||||||||||
Residential mortgage-backed securities |
1,385 | 1,857 | 6 | 3,248 | ||||||||||||
Commercial mortgage-backed securities |
| 1,279 | | 1,279 | ||||||||||||
Asset-backed securities |
| 1,817 | 140 | 1,957 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total fixed maturity securities, available-for-sale, at fair value |
$ | 2,084 | $ | 40,185 | $ | 1,421 | $ | 43,690 | ||||||||
Other investments at fair value |
1,050 | 957 | 1 | 2,008 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Investments at fair value |
$ | 3,134 | $ | 41,142 | $ | 1,422 | $ | 45,698 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative instruments - assets |
| 203 | 633 | 836 | ||||||||||||
Separate account assets1 |
87,266 | 1,374 | 65 | 88,705 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Assets at fair value |
$ | 90,400 | $ | 42,719 | $ | 2,120 | $ | 135,239 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
||||||||||||||||
Future policy benefits and claims |
$ | | $ | | $ | 346 | $ | 346 | ||||||||
Derivative instruments - liabilities |
| 121 | 2 | 123 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities at fair value |
$ | | $ | 121 | $ | 348 | $ | 469 | ||||||||
|
|
|
|
|
|
|
|
1 | Excludes $366 million as of December 31, 2016 of separate account assets that use net asset value (NAV) as a practical expedient to estimate fair value. |
The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the year ended December 31, 2016:
(in millions) |
Fixed maturity securities2 |
Other investments |
Derivative assets3 |
Separate account assets4 |
Total assets at fair value |
Liabilities at fair value3 |
||||||||||||||||||
Balance as of December 31, 2015 |
$ | 1,228 | $ | 37 | $ | 445 | $ | 361 | $ | 2,071 | $ | 71 | ||||||||||||
Net gains (losses) |
||||||||||||||||||||||||
In operations1 |
(12 | ) | 8 | 92 | (13 | ) | 75 | 277 | ||||||||||||||||
In other comprehensive income |
39 | (11 | ) | | | 28 | | |||||||||||||||||
Purchases |
147 | | 115 | | 262 | | ||||||||||||||||||
Sales |
(178 | ) | (33 | ) | (19 | ) | (283 | ) | (513 | ) | | |||||||||||||
Transfers into Level 3 |
261 | | | | 261 | | ||||||||||||||||||
Transfers out of Level 3 |
(64 | ) | | | | (64 | ) | | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance as of December 31, 2016 |
$ | 1,421 | $ | 1 | $ | 633 | $ | 65 | $ | 2,120 | $ | 348 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
1 | Net gains and losses included in operations are reported in net realized investment gains and losses and interest credited to policyholder accounts. The net unrealized gains on separate account assets are attributable to contractholders and therefore are not included in the Companys earnings. The change in unrealized gains (losses) included in operations on assets and liabilities still held at the end of the year was $157 million for future policy benefits and claims, $145 million for derivative assets, $(4) million for derivative liabilities and $(2) million for other investments at fair value. |
2 | Non-binding broker quotes were utilized to determine a fair value of $1.0 billion of the total fixed maturity securities as of December 31, 2016. |
3 | Non-binding broker quotes were utilized to determine a fair value of all Level 3 derivative assets and liabilities. |
4 | Certain prior period amounts related to separate account assets that use NAV as a practical expedient to estimate fair value has changed to conform with current period presentation as a result of new guidance. |
28
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Transfers into and out of Level 3 during the year ended December 31, 2016 are primarily due to the change in observability of pricing inputs used for certain corporate public and private securities. There were no material transfers between Levels 1 and 2 during the year ended December 31, 2016.
Living Benefit Guarantees
The following table summarizes significant unobservable inputs used for fair value measurements for living benefits liabilities, included in future policy benefits and claims and classified as Level 3 as of December 31, 2016:
Unobservable Inputs |
Range | |
Mortality |
0.1% - 10%3 | |
Lapse |
0% - 35%4 | |
Wait period |
0 yrs - 30 yrs5 | |
Efficiency of benefit utilization1 |
60% - 100%6 | |
Discount rate2 |
See note 2 below | |
Index volatility |
15% - 25% |
1 | The unobservable input is not applicable to GMABs. |
2 | Incorporates the liquidity and non-performance risk adjustment. The liquidity spread takes into consideration market observables for spreads in illiquid assets. The non-performance risk adjustment reflects an additional spread over LIBOR determined by market observables for similarly rated public bonds. |
3 | Represents the mortality for the majority of business with living benefits, with policyholder issue ages ranging from 45 to 85. |
4 | Certain scenarios could drive dynamic lapses outside of the specified range. The range shown represents lapses for the vast majority of scenarios. |
5 | A portion of the contractholders could never use the benefit, which would extend the range to an indeterminate period. |
6 | A portion of the contractholders could withdraw more than the benefit guarantee allows. For these policies, the excess withdrawals are assumed to be temporary before reverting back to 100% utilization. |
The following changes in any of the significant unobservable inputs presented in the table above may result in a change in the fair value measurements of the living benefits liability:
Higher mortality rates tend to decrease the value of the liability and lower mortality rates tend to increase the value of the liability.
Higher lapse rates tend to decrease the value of the liability and lower lapse rates tend to increase the value of the liability. Factors that impact the predicted lapse rate can include: age, policy duration, policy size, benefit in-the-moneyness, tax status (i.e. qualified or non-qualified), interest rate levels, short-term equity market performance, partial withdrawal behavior and applicable surrender charges. All else being equal, policies that are in-the-money will have lower lapse rates than policies that are out-of-the-money, and policies that have a surrender charge present will have lower lapse rates than policies without a surrender charge.
The assumed wait period and the efficiency of utilization determine the timing and amount of living benefits withdrawals. These assumptions vary by the product type, age of the policyholder, policy size and policy duration. Many products have a bonus feature which enhances the guarantee on every policy anniversary for the first ten years so long as withdrawals have not commenced. All else being equal, policies commencing withdrawals at a time around the year ten bonus will have higher liability values than policies commencing withdrawals 20 years after issue or policies commencing withdrawals only one year after issue. In addition, policies that are assumed to withdraw the maximum permitted amount will have a higher liability value than a policy that is assumed to withdraw less than the maximum allowed amount.
A higher discount rate tends to decrease the value of the liability and a lower discount rate tends to increase the value of the liability.
Higher index volatility tends to increase the value of the liability and lower index volatility tends to decrease the value of the liability.
29
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Indexed Products
The following table summarizes significant unobservable inputs used for fair value measurements for indexed universal life and indexed annuity products classified as Level 3 as of December 31, 2016:
Unobservable Inputs |
Range | |
Mortality |
0% - 5%¹ | |
Lapse |
0% - 10% | |
Index volatility |
15% - 25%2 |
1 | Represents the mortality for the majority of business, with policyholder issue ages ranging from 0 to 80. |
2 | Certain managed volatility indices utilize a 5% index volatility. |
The following changes in any of the significant unobservable inputs presented in the table above may result in a change in the fair value measurements of the indexed products:
Higher mortality rates tend to decrease the value of the liability and lower mortality rates tend to increase the value of the liability.
Higher lapse rates tend to decrease the value of the liability and lower lapse rates tend to increase the value of the liability. Factors that impact the predicted lapse rate can include: age, policy duration, policy size, and applicable surrender charges. All else being equal, policies with a surrender charge present will have lower lapse rates than policies without a surrender charge.
Higher index volatility tends to increase the value of the liability and lower index volatility tends to decrease the value of the liability.
30
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes assets and liabilities held at fair value on a recurring basis as of December 31, 2015:
(in millions) |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Investments: |
||||||||||||||||
Fixed maturity securities, available-for-sale: |
||||||||||||||||
U.S. government and agencies |
$ | 399 | $ | 1 | $ | 2 | $ | 402 | ||||||||
Obligations of states, political subdivisions and foreign governments |
63 | 2,304 | | 2,367 | ||||||||||||
Corporate public securities |
| 23,142 | 148 | 23,290 | ||||||||||||
Corporate private securities |
| 4,226 | 944 | 5,170 | ||||||||||||
Residential mortgage-backed securities |
846 | 2,291 | 9 | 3,146 | ||||||||||||
Commercial mortgage-backed securities |
| 1,565 | | 1,565 | ||||||||||||
Asset-backed securities |
| 1,505 | 125 | 1,630 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total fixed maturity securities, available-for-sale, at fair value |
$ | 1,308 | $ | 35,034 | $ | 1,228 | $ | 37,570 | ||||||||
Other investments at fair value |
270 | 546 | 37 | 853 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Investments at fair value |
$ | 1,578 | $ | 35,580 | $ | 1,265 | $ | 38,423 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative instruments - assets |
| 125 | 445 | 570 | ||||||||||||
Separate account assets1 |
83,466 | 1,323 | 361 | 85,150 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Assets at fair value |
$ | 85,044 | $ | 37,028 | $ | 2,071 | $ | 124,143 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
||||||||||||||||
Future policy benefits and claims |
$ | | $ | | $ | 65 | $ | 65 | ||||||||
Derivative instruments - liabilities |
| 100 | 6 | 106 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities at fair value |
$ | | $ | 100 | $ | 71 | $ | 171 | ||||||||
|
|
|
|
|
|
|
|
1 | Excludes $2.1 billion of separate account assets that use NAV as a practical expedient to estimate fair value, which presentation has changed to conform with the current period presentation as a result of new guidance. This included an investment in a mutual fund that was not redeemed until the guarantee period expired in 2016 with a net asset value of $1.7 billion. The investment strategy of this fund was to build a portfolio where the assets were sufficient to achieve a target portfolio value by the end of the guarantee period. |
The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the year ended December 31, 2015:
(in millions) |
Fixed maturity securities2 |
Other investments |
Derivative assets3 |
Separate account assets4 |
Total assets at fair value |
Liabilities at fair value3 |
||||||||||||||||||
Balance as of December 31, 2014 |
$ | 1,267 | $ | 36 | $ | 411 | $ | 354 | $ | 2,068 | $ | 264 | ||||||||||||
Net (losses) gains |
||||||||||||||||||||||||
In operations1 |
(6 | ) | | (46 | ) | 7 | (45 | ) | (313 | ) | ||||||||||||||
In other comprehensive income |
(44 | ) | | | | (44 | ) | | ||||||||||||||||
Purchases |
142 | 1 | 104 | | 247 | 144 | ||||||||||||||||||
Sales |
(162 | ) | | (24 | ) | | (186 | ) | (24 | ) | ||||||||||||||
Transfers into Level 3 |
201 | | | | 201 | | ||||||||||||||||||
Transfers out of Level 3 |
(170 | ) | | | | (170 | ) | | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance as of December 31, 2015 |
$ | 1,228 | $ | 37 | $ | 445 | $ | 361 | $ | 2,071 | $ | 71 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
1 | Net gains and losses included in operations are reported in net realized investment gains and losses and interest credited to policyholder accounts. The net unrealized gains on separate account assets are attributable to contractholders and therefore are not included in the Companys earnings. The change in unrealized gains (losses) included in operations on assets and liabilities still held at the end of the year was $316 million for future policy benefits and claims, $(9) million for derivative assets, and $2 million for derivative liabilities. |
2 | Non-binding broker quotes were utilized to determine a fair value of $1.1 billion of total fixed maturity securities as of December 31, 2015. |
3 | Non-binding broker quotes were utilized to determine a fair value of all Level 3 derivative assets and liabilities. |
4 | Certain prior period amounts related to separate account assets that use NAV as practical expedient to estimate fair value has changed to conform with the current period presentation as a result of new guidance. |
31
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Transfers into and out of Level 3 during the year ended December 31, 2015 are primarily due to the change in observability of pricing inputs used for certain corporate private securities. There were no material transfers between Levels 1 and 2 during the year ended December 31, 2015.
Financial Instruments Not Carried at Fair Value
The following table summarizes the carrying value and fair value of the Companys financial instruments not carried at fair value as of the dates indicated. The valuation techniques used to estimate these fair values are described below.
December 31, 2016 | December 31, 2015 | |||||||||||||||||||||||||||||||
(in millions) |
Carrying value |
Fair value |
Level 2 | Level 3 | Carrying value |
Fair value |
Level 2 | Level 3 | ||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||||||||||
Investments: |
||||||||||||||||||||||||||||||||
Mortgage loans, net of allowance |
$ | 9,760 | $ | 9,589 | $ | | $ | 9,589 | $ | 8,396 | $ | 8,462 | $ | | $ | 8,462 | ||||||||||||||||
Policy loans |
$ | 989 | $ | 989 | $ | | $ | 989 | $ | 993 | $ | 993 | $ | | $ | 993 | ||||||||||||||||
Other investments |
$ | 72 | $ | 72 | $ | | $ | 72 | $ | 71 | $ | 71 | $ | | $ | 71 | ||||||||||||||||
Liabilities |
||||||||||||||||||||||||||||||||
Investment contracts |
$ | 31,431 | $ | 29,736 | $ | | $ | 29,736 | $ | 27,301 | $ | 25,822 | $ | | $ | 25,822 | ||||||||||||||||
Short-term debt |
$ | 300 | $ | 300 | $ | | $ | 300 | $ | 400 | $ | 400 | $ | | $ | 400 | ||||||||||||||||
Long-term debt |
$ | 707 | $ | 927 | $ | 920 | $ | 7 | $ | 707 | $ | 941 | $ | 934 | $ | 7 |
Mortgage loans, net of allowance. The fair values of mortgage loans are estimated using discounted cash flow analyses based on interest rates currently being offered for similar loans to borrowers with similar credit ratings.
Policy loans. The carrying amount reported in the consolidated balance sheets approximates fair value as policy loans are fully collateralized by the cash surrender value of underlying insurance policies.
Other investments. Other investments not held at fair value consist of FHLB stock. The carrying amount reported in the consolidated balance sheets approximates fair value due to ownership restrictions and lack of market.
Investment contracts. For investment contracts without defined maturities, fair value is the amount payable on demand, net of surrender charges. For investment contracts with known or determined maturities, fair value is estimated using discounted cash flow analysis. Interest rates used in this analysis are similar to currently offered contracts with maturities consistent with those remaining for the contracts being valued. The fair value of adjustable rate contracts approximates their carrying value.
Short-term debt. The carrying amount reported in the consolidated balance sheets approximates fair value due to the short-term nature of this debt instrument.
Long-term debt. The fair values for long-term debt are based on estimated market prices using observable inputs from similar debt instruments.
32
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(9) | Goodwill |
The following table summarizes changes in the carrying value of goodwill by segment for the years indicated:
(in millions) |
Retirement Plans |
Individual Products & Solutions - Life and NBSG |
Total | |||||||||
Balance as of December 31, 20141 |
$ | 25 | $ | 175 | $ | 200 | ||||||
Adjustments |
| | | |||||||||
|
|
|
|
|
|
|||||||
Balance as of December 31, 20151 |
$ | 25 | $ | 175 | $ | 200 | ||||||
Adjustments |
| | | |||||||||
|
|
|
|
|
|
|||||||
Balance as of December 31, 20161 |
$ | 25 | $ | 175 | $ | 200 | ||||||
|
|
|
|
|
|
1 | The goodwill balances have not been previously impaired. |
33
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(10) | Closed Block |
The amounts shown in the following tables for assets, liabilities, revenues and expenses of the closed block are those that enter into the determination of amounts that are to be paid to policyholders.
The following table summarizes financial information for the closed block, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Liabilities: |
||||||||
Future policyholder benefits |
$ | 1,602 | $ | 1,637 | ||||
Policyholder funds and accumulated dividends |
138 | 138 | ||||||
Policyholder dividends payable |
20 | 21 | ||||||
Policyholder dividend obligation |
100 | 99 | ||||||
Other policy obligations and liabilities |
38 | 35 | ||||||
|
|
|
|
|||||
Total liabilities |
$ | 1,898 | $ | 1,930 | ||||
|
|
|
|
|||||
Assets: |
||||||||
Available-for-sale securities |
$ | 1,286 | $ | 1,316 | ||||
Mortgage loans, net of allowance |
223 | 235 | ||||||
Policy loans |
138 | 146 | ||||||
Other assets |
98 | 71 | ||||||
|
|
|
|
|||||
Total assets |
$ | 1,745 | $ | 1,768 | ||||
|
|
|
|
|||||
Excess of reported liabilities over assets |
$ | 153 | $ | 162 | ||||
|
|
|
|
|||||
Portion of above representing other comprehensive income: |
||||||||
Increase (decrease) in unrealized gain on fixed maturity securities, available-for-sale |
$ | 7 | $ | (53 | ) | |||
Adjustment to policyholder dividend obligation |
(7 | ) | 53 | |||||
|
|
|
|
|||||
Total of above representing other than comprehensive income |
$ | | $ | | ||||
|
|
|
|
|||||
Maximum future earnings to be recognized from assets and liabilities |
$ | 153 | $ | 162 | ||||
|
|
|
|
|||||
Other comprehensive income: |
||||||||
Available-for-sale securities: |
||||||||
Fair value |
$ | 1,286 | $ | 1,316 | ||||
Amortized cost |
1,212 | 1,249 | ||||||
Shadow policyholder dividend obligation |
(74 | ) | (67 | ) | ||||
|
|
|
|
|||||
Net unrealized appreciation |
$ | | $ | | ||||
|
|
|
|
34
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes closed block operations for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Revenues: |
||||||||||||
Premiums |
$ | 56 | $ | 58 | $ | 61 | ||||||
Net investment income |
84 | 87 | 93 | |||||||||
Realized investment (losses) gains |
(3 | ) | 1 | 1 | ||||||||
Realized losses credited to policyholder benefit obligation |
(1 | ) | (5 | ) | (5 | ) | ||||||
|
|
|
|
|
|
|||||||
Total revenues |
$ | 136 | $ | 141 | $ | 150 | ||||||
|
|
|
|
|
|
|||||||
Benefits and expenses: |
||||||||||||
Policy and contract benefits |
$ | 125 | $ | 122 | $ | 124 | ||||||
Change in future policyholder benefits and interest credited to policyholder accounts |
(36 | ) | (33 | ) | (34 | ) | ||||||
Policyholder dividends |
40 | 40 | 43 | |||||||||
Change in policyholder dividend obligation |
(8 | ) | (4 | ) | (1 | ) | ||||||
Other expenses |
1 | 1 | 2 | |||||||||
|
|
|
|
|
|
|||||||
Total benefits and expenses |
$ | 122 | $ | 126 | $ | 134 | ||||||
|
|
|
|
|
|
|||||||
Total revenues, net of benefits and expenses, before federal income tax expense |
$ | 14 | $ | 15 | $ | 16 | ||||||
Federal income tax expense |
5 | 5 | 6 | |||||||||
|
|
|
|
|
|
|||||||
Revenues, net of benefits and expenses and federal income tax expense |
$ | 9 | $ | 10 | $ | 10 | ||||||
|
|
|
|
|
|
|||||||
Maximum future earnings from assets and liabilities: |
||||||||||||
Beginning of period |
$ | 162 | $ | 172 | $ | 182 | ||||||
Change during period |
(9 | ) | (10 | ) | (10 | ) | ||||||
|
|
|
|
|
|
|||||||
End of period |
$ | 153 | $ | 162 | $ | 172 | ||||||
|
|
|
|
|
|
Cumulative closed block earnings from inception through December 31, 2016, 2015 and 2014 were higher than expected as determined in the actuarial calculation. Therefore, policyholder dividend obligations (excluding the adjustment for unrealized gains on available-for-sale securities) were $26 million, $32 million and $32 million as of December 31, 2016, 2015 and 2014, respectively.
35
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(11) | Short-Term Debt |
The Company classifies debt as short-term if the maturity date at inception is less than one year.
In December 2015, the Company renewed an agreement to increase its $600 million commercial paper program to $750 million. The Company had $300 million and $400 million outstanding under the agreement as of December 31, 2016 and 2015, respectively, with a weighted average interest rate of 0.72% and 0.45%, respectively.
In November 2015, the Company terminated its $400 million unsecured revolving promissory note and line of credit agreement with its parent company.
In March 2016, the Company renewed an agreement with the FHLB to extend its ability to borrow in order to provide financing for operations. This extension, which expires on March 24, 2017, allows the Company access to borrow up to $250 million, which would be collateralized by pledged securities. The Company had $6.1 billion and $6.7 billion in eligible collateral and no amounts outstanding under the agreement as of December 31, 2016 and 2015, respectively.
In April 2015, NMIC and the Company replaced their previous $600 million revolving credit facility with a new credit facility of $750 million, which expires on April 2, 2020. The Company had no amounts outstanding under this agreement as of December 31, 2016 and 2015.
The Company has entered into an agreement with its custodial bank to borrow against the cash collateral that is posted in connection with its securities lending program. The maximum amount available under the agreement is $350 million. The borrowing rate on this program is equal to one-month U.S. LIBOR. The Company had no amounts outstanding under this agreement as of December 31, 2016 and 2015.
The amount of interest paid on short-term debt was immaterial in 2016, 2015 and 2014.
(12) | Long-Term Debt |
The following table summarizes the carrying value of long-term debt, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
8.15% surplus note, due June 26, 2032, payable to NFS |
$ | 300 | $ | 300 | ||||
7.50% surplus note, due December 17, 2031, payable to NFS |
300 | 300 | ||||||
6.75% surplus note, due December 23, 2033, payable to NFS |
100 | 100 | ||||||
Other |
7 | 7 | ||||||
|
|
|
|
|||||
Total long-term debt |
$ | 707 | $ | 707 | ||||
|
|
|
|
The Company made interest payments to NFS on surplus notes totaling $54 million for the years ended December 31, 2016, 2015 and 2014. Payments of interest and principal under the notes require the prior approval of the ODI.
36
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(13) | Federal Income Taxes |
The following table summarizes the components of federal income tax expense (benefit) for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Current tax expense |
$ | 61 | $ | 76 | $ | 5 | ||||||
Deferred tax expense (benefit) |
65 | 217 | (152 | ) | ||||||||
|
|
|
|
|
|
|||||||
Total tax expense (benefit) |
$ | 126 | $ | 293 | $ | (147 | ) | |||||
|
|
|
|
|
|
The following table summarizes how the total federal income tax expense (benefit) differs from the amount computed by applying the U.S. federal income tax rate to net income for the years ended:
December 31, | ||||||||||||||||||||||||
2016 | 2015 | 2014 | ||||||||||||||||||||||
(in millions) |
Amount | % | Amount | % | Amount | % | ||||||||||||||||||
Rate reconciliation: |
||||||||||||||||||||||||
Computed (expected tax expense (benefit)) |
$ | 316 | 35 | % | $ | 430 | 35 | % | $ | (46 | ) | 35 | % | |||||||||||
Dividends received deduction |
(144 | ) | (16 | )% | (118 | ) | (10 | )% | (87 | ) | 66 | % | ||||||||||||
Tax credits |
(81 | ) | (9 | )% | (63 | ) | (5 | )% | (53 | ) | 41 | % | ||||||||||||
Noncontrolling interest |
32 | 4 | % | 33 | 3 | % | 33 | (25 | )% | |||||||||||||||
Other, net |
3 | | % | 11 | 1 | % | 6 | (5 | )% | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
$ | 126 | 14 | % | $ | 293 | 24 | % | $ | (147 | ) | 112 | % | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
The Companys current federal income tax liability was $52 million and $61 million as of December 31, 2016 and 2015, respectively.
The Company made $7 million, $33 million and immaterial payments for the years ended December 31, 2016, 2015 and 2014, respectively.
During 2016 and 2015, the Company recorded a tax benefit of $6 million and $1 million, respectively. These changes in estimates were primarily driven by differences in the Companys separate account dividends received deduction (DRD) between the previous years estimate and the amount reported on the previous years tax return.
As of December 31, 2016, the Company had $254 million in low-income-housing credit carryforwards, which expire between 2024 and 2036, $268 million in alternative minimum tax credit carryforwards, which have an unlimited carryforward and $77 million in foreign tax credit carryforwards, which expire between 2017 and 2025. The Company expects to fully utilize all carryforwards.
37
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following table summarizes the tax effects of temporary differences that gave rise to significant components of the net deferred tax liability included in other liabilities in the consolidated balance sheets, as of the dates indicated:
December 31, | ||||||||
(in millions) |
2016 | 2015 | ||||||
Deferred tax assets |
||||||||
Future policy benefits and claims |
$ | 953 | $ | 825 | ||||
Tax credit carryforwards |
599 | 483 | ||||||
Derivatives, including embedded derivatives |
21 | 120 | ||||||
Other |
383 | 411 | ||||||
|
|
|
|
|||||
Gross deferred tax assets |
$ | 1,956 | $ | 1,839 | ||||
Valuation allowance |
(17 | ) | (17 | ) | ||||
|
|
|
|
|||||
Gross deferred tax assets, net of valuation allowance |
$ | 1,939 | $ | 1,822 | ||||
|
|
|
|
|||||
Deferred tax liabilities |
||||||||
Deferred policy acquisition costs |
$ | 1,577 | $ | 1,502 | ||||
Available-for-sale securities |
536 | 315 | ||||||
Other |
278 | 249 | ||||||
|
|
|
|
|||||
Gross deferred tax liabilities |
$ | 2,391 | $ | 2,066 | ||||
|
|
|
|
|||||
Net deferred tax liability |
$ | 452 | $ | 244 | ||||
|
|
|
|
In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion of the total gross deferred tax assets will not be realized. Based on the Companys analysis, it is more likely than not that the results of future operations and the implementation of tax planning strategies will generate sufficient taxable income to enable the Company to realize the deferred tax assets for which the Company has not established valuation allowances.
The following table is a rollforward of the beginning and ending uncertain tax positions, including permanent and temporary differences, but excluding interest and penalties:
(in millions) |
2016 | 2015 | 2014 | |||||||||
Balance at beginning of period |
$ | 36 | $ | 38 | $ | 36 | ||||||
Additions for current year tax positions |
1 | 1 | 3 | |||||||||
Additions for prior year tax positions |
1 | | | |||||||||
Reductions for prior years tax positions |
(2 | ) | (3 | ) | (1 | ) | ||||||
|
|
|
|
|
|
|||||||
Balance at end of period |
$ | 36 | $ | 36 | $ | 38 | ||||||
|
|
|
|
|
|
The Company believes it is reasonably possible that the liability for unrecognized tax benefits could decrease $15 million within the next 12 months as a result of IRS exam settlement.
The Company files consolidated income tax returns in the U.S. federal jurisdiction and various state jurisdictions. NMIC and its eligible subsidiaries are no longer subject to U.S. federal, state or local income tax examinations by tax authorities through the 2010 tax year. NLIC and its eligible subsidiaries are no longer subject to examinations by tax authorities through the 2010 tax year. In 2015, the IRS commenced an examination of the Companys U.S. income tax returns for the years 2011 and 2012. Any adjustments that may result from either IRS examination of tax returns or appeals settlement are not expected to have a material effect on the results of operations, cash flows or financial position of the Company.
38
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(14) | Statutory Financial Information |
Statutory Results
The Companys life insurance subsidiaries prepare their statutory financial statements in conformity with the statutory accounting practices prescribed and permitted by insurance regulatory authorities, subject to any deviations prescribed or permitted by the applicable state departments of insurance.
Olentangy Reinsurance, LLC (Olentangy), a special purpose financial captive insurance company subsidiary of NLAIC domiciled in the State of Vermont, was granted a permitted practice from the State of Vermont that increased NLAICs valuation of this subsidiary by $56 million as of December 31, 2016 and 2015, which also allowed NLIC to admit additional deferred tax assets of $8 million as of December 31, 2016 and 2015.
Eagle applies a prescribed practice from the State of Ohio that allows an alternative reserve basis on assumed liabilities, net of third party reinsurance, with respect to specified GMDB and GLWB obligations provided under substantially all of the variable annuity contracts issued and to be issued by NLIC. This prescribed practice decreased NLICs valuation of this subsidiary by $97 million and $64 million as of December 31, 2016 and 2015, respectively, which also reduced NLICs admitted deferred tax assets by $15 million and $10 million as of December 31, 2016 and 2015, respectively.
Statutory accounting practices focus on insurer solvency and differ materially from GAAP primarily due to charging policy acquisition and other costs to expense as incurred, establishing future policy benefits and claims reserves based on different actuarial assumptions, excluding certain assets from statutory admitted assets and valuing investments and establishing deferred taxes on a different basis.
The following table summarizes the statutory net income (loss) and statutory capital and surplus for the Companys primary life insurance subsidiaries for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Statutory net income (loss) |
||||||||||||
NLIC |
$ | 751 | $ | 167 | $ | 341 | ||||||
NLAIC |
$ | (227 | ) | $ | (99 | ) | $ | (122 | ) | |||
Statutory capital and surplus |
||||||||||||
NLIC |
$ | 5,208 | $ | 4,567 | $ | 4,408 | ||||||
NLAIC |
$ | 968 | $ | 735 | $ | 691 | ||||||
|
|
|
|
|
|
Dividend Restrictions
The payment of dividends by NLIC is subject to restrictions set forth in the insurance laws and regulations of the State of Ohio, its domiciliary state. The State of Ohio insurance laws require Ohio-domiciled life insurance companies to notify the Ohio Superintendent of Insurance of all dividends prior to payment and must seek prior regulatory approval to pay a dividend or distribute cash or other property if the fair market value thereof, together with that of other dividends or distributions made in the preceding twelve months, exceeds the greater of (1) 10% of statutory-basis policyholders surplus as of the prior December 31 or (2) the statutory-basis net income of the insurer as of the prior December 31. During the years ended December 31, 2016, 2015 and 2014 NLIC did not pay any dividends to NFS. As of January 1, 2017, NLIC has the ability to pay dividends to NFS totaling $751 million without obtaining prior approval.
The State of Ohio insurance laws also require insurers to seek prior regulatory approval for any dividend paid from other than earned surplus. Earned surplus is defined under the State of Ohio insurance laws as the amount equal to the Companys unassigned funds as set forth in its most recent statutory financial statements, including net unrealized capital gains and losses or revaluation of assets. Additionally, following any dividend, an insurers policyholder surplus must be reasonable in relation to the insurers outstanding liabilities and adequate for its financial needs. The payment of dividends by the Company may also be subject to restrictions set forth in the insurance laws of the State of New York that limit the amount of statutory profits on the Companys participating policies (measured before dividends to policyholders) available for the benefit of the Company and its stockholders.
The Company currently does not expect such regulatory requirements to impair the ability to pay operating expenses and dividends in the future.
39
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Regulatory Risk-Based Capital
The National Association of Insurance Commissioners (NAIC) Risk-Based Capital (RBC) model law requires every insurer to calculate its total adjusted capital and RBC requirement to ensure insurer solvency. Regulatory guidelines provide for an insurance commissioner to intervene if the insurer experiences financial difficulty, as evidenced by a companys total adjusted capital falling below established relationships to required RBC. The model includes components for asset risk, liability risk, interest rate exposure and other factors. The State of Ohio imposes minimum RBC requirements that are developed by the NAIC. The formulas in the model for determining the amount of RBC specify various weighting factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio of total adjusted capital to authorized control level RBC, as defined by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, all of which require specified corrective action. NLIC, NLAIC, Olentangy and Eagle each exceeded the minimum RBC requirements for all periods presented.
(15) | Related Party Transactions |
The Company has entered into significant, recurring transactions and agreements with NMIC, other affiliates and subsidiaries as a part of its ongoing operations. These include annuity and life insurance contracts, agreements related to reinsurance, cost sharing, tax sharing, administrative services, marketing, intercompany loans, intercompany repurchases, cash management services, investment management and software licensing. In addition, employees of the Company participate in several benefit plans sponsored by NMIC, for which the Company has no legal obligations. Measures used to allocate expenses among companies include individual employee estimates of time spent, special cost studies, claims counts, policies in force, direct written premium, paid losses, pro rate share of employees or their salaries, the number of full-time employees, commission expense and other methods agreed to by the participating companies.
Effective January 1, 2015, the Company became party to a revised tax sharing agreement that reflects the new NMIC consolidated federal return group which includes its eligible life and non-life insurance company subsidiaries. The method of allocation among the companies is based upon separate return calculations with current benefit for tax losses and credits utilized in the consolidated return.
In addition, Nationwide Services Company, LLC (NSC), a subsidiary of NMIC, provides data processing, systems development, hardware and software support, telephone, mail and other services to the Company, based on specified rates for units of service consumed pursuant to the enterprise cost sharing agreement. For the years ended December 31, 2016, 2015 and 2014, the Company was allocated costs from NMIC and NSC totaling $277 million, $289 million and $275 million, respectively.
Under the enterprise cost sharing agreement, the Company has a cost sharing arrangement with NMIC to occupy office space. The Company made payments under the cost sharing agreement to NMIC of $19 million, $18 million and $16 million for the years ended December 31, 2016, 2015 and 2014, respectively.
The Company has issued group annuity and life insurance contracts and performs administrative services for various employee benefit plans sponsored by NMIC or its affiliates. Total account values of these contracts were $3.4 billion and $3.3 billion as of December 31, 2016 and 2015, respectively. Total revenues from these contracts were $127 million, $129 million and $131 million for the years ended December 31, 2016, 2015 and 2014, respectively, and include policy charges, net investment income from investments backing the contracts and administrative fees. Total interest credited to the account balances were $111 million, $106 million and $109 million for the years ended December 31, 2016, 2015 and 2014, respectively.
The Company may underwrite insurance policies for its agents, employees, officers and/or directors. The Company may offer discounts on certain products that are subject to applicable state insurance laws and approvals.
NLIC has a reinsurance agreement with NMIC whereby all of NLICs accident and health business not ceded to unaffiliated reinsurers is ceded to NMIC on a modified coinsurance basis. Either party may terminate the agreement on January 1 of any year with prior notice. Under a modified coinsurance agreement, the ceding company retains invested assets, and investment earnings are paid to the reinsurer. Under the terms of NLICs agreements, the investment risk associated with changes in interest rates is borne by the reinsurer. The ceding of risk does not discharge the original insurer from its primary obligation to the policyholder. Revenues ceded to NMIC were $209 million for the years ended December 31, 2016 and 2015 and $208 million for the years ended 2014, while benefits, claims and expenses ceded during these years were $185 million, $207 million and $217 million, respectively.
40
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Funds of Nationwide Funds Group (NFG), a group of Nationwide businesses that develops, sells and services mutual funds, are offered to the Companys customers as investment options in certain of the Companys products. As of December 31, 2016 and 2015, customer allocations to NFG funds totaled $61.4 billion and $59.1 billion, respectively. For the years ended December 31, 2016, 2015 and 2014, NFG paid the Company $199 million, $196 million and $185 million, respectively, for the distribution and servicing of these funds.
Amounts on deposit with NCMC for the benefit of the Company were $899 million and $501 million as of December 31, 2016 and 2015, respectively.
Nationwide Bank has a line of credit agreement with NLIC that allows the Bank access to borrow up to $50 million from NLIC. The borrowing rate on the line of credit is equal to the daily Prime Rate. The Bank had no amounts outstanding under this agreement as of December 31, 2016, 2015 and 2014.
Certain annuity products are sold through affiliated companies, which are also subsidiaries of NFS. Total commissions and fees paid to these affiliates were $65 million, $63 million and $57 million for the years ended December 31, 2016, 2015 and 2014, respectively.
The Company provides financing to Nationwide Realty Investors, LTD, a subsidiary of NMIC. As of December 31, 2016, 2015 and 2014, the Company had notes receivable outstanding of $332 million, $238 million and $142 million, respectively.
The Company provides financing to Nationwide Advantage Mortgage Company (NAMC), a subsidiary of NMIC. As of December 31, 2016, 2015 and 2014, the Company had notes receivable outstanding of $11 million, $14 million and $18 million, respectively.
(16) | Contingencies |
Legal and Regulatory Matters
The Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industries in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope, and many uncertainties. Regulatory proceedings may also affect the outcome of one or more of the Companys litigation matters. Furthermore, it is often not possible with any degree of certainty to determine the likely ultimate outcomes of the pending regulatory and legal proceedings or to provide reasonable ranges of potential losses. Some matters are in very preliminary stages, and the Company does not have sufficient information to make an assessment of the claims for liability or damages. In some of the legal proceedings which are seeking to be certified as class actions, the court has not yet decided whether a class will be certified or (in the event of certification) the size of the class and class period. In many of the legal proceedings, the plaintiffs are seeking undefined amounts of damages or other relief, including punitive damages and equitable remedies, which are difficult to quantify and cannot be defined based on the information currently available. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings is not likely to have a material adverse effect on the Companys consolidated financial position. Nonetheless, it is possible that such outcomes could materially affect the Companys consolidated financial position or results of operations in a particular quarter or annual period given the large or indeterminate amounts sought in certain of these legal proceedings and the inherent unpredictability of litigation. The Company maintains Professional Liability Insurance and Director and Officer Liability insurance policies that may cover losses for certain legal and regulatory matters. The Company recognizes an asset for insurance recoveries, not to exceed cumulative accrued losses, when recovery under such policies is probable and reasonably estimable.
The various businesses conducted by the Company are subject to oversight by numerous federal and state regulatory entities, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Department of Labor (DOL), the IRS and state insurance authorities. Such regulatory entities may, in the normal course, be engaged in general or targeted inquiries, examinations and investigations of the Company and/or its affiliates. With respect to all such scrutiny directed at the Company or its affiliates, the Company is cooperating with regulators. The Company will cooperate with its ultimate parent company, NMIC insofar as any inquiry, examination or investigation encompasses NMICs operations. In addition, recent regulatory activity, including activity by the DOL, may impact the Companys business and operations, and certain estimates and assumptions used by the Company in determining the amounts presented in the financial statements and accompanying notes. Actual results could differ significantly from those estimates and assumptions.
41
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Indemnifications
In the normal course of business, the Company provides standard indemnifications to contractual counterparties. The types of indemnifications typically provided include breaches of representations and warranties, taxes and certain other liabilities, such as third party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated, and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations.
(17) | Reinsurance |
The following table summarizes the effects of reinsurance on life, accident and health insurance in force and premiums for the years ended:
December 31, | ||||||||||||
(in millions) |
2016 | 2015 | 2014 | |||||||||
Premiums |
||||||||||||
Direct |
$ | 1,011 | $ | 1,144 | $ | 1,178 | ||||||
Assumed from other companies |
| | | |||||||||
Ceded to other companies |
(369 | ) | (358 | ) | (347 | ) | ||||||
|
|
|
|
|
|
|||||||
Net |
$ | 642 | $ | 786 | $ | 831 | ||||||
|
|
|
|
|
|
|||||||
Life, accident and health insurance in force |
||||||||||||
Direct |
$ | 275,404 | $ | 260,465 | $ | 241,936 | ||||||
Assumed from other companies |
2 | 5 | 5 | |||||||||
Ceded to other companies |
(61,674 | ) | (60,976 | ) | (59,588 | ) | ||||||
|
|
|
|
|
|
|||||||
Net |
$ | 213,732 | $ | 199,494 | $ | 182,353 | ||||||
|
|
|
|
|
|
Amounts recoverable under reinsurance contracts totaled $683 million, $647 million and $704 million as of December 31, 2016, 2015 and 2014, respectively, and are included in other assets in the consolidated balance sheets.
(18) Segment Information
Management views the Companys business primarily based on its underlying products and uses this basis to define its four reportable segments: Individual Products and Solutions-Annuity, Retirement Plans, Individual Products and Solutions-Life and NBSG and Corporate and Other.
The primary segment profitability measure that management uses is pre-tax operating earnings (loss), which is calculated by adjusting income before federal income taxes to exclude: (1) certain changes in variable annuity liabilities and net realized investment gains and losses, except for operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges); (2) the adjustment to amortization of DAC related to certain changes in variable annuity liabilities and net realized investment gains and losses; and (3) net losses attributable to noncontrolling interest.
Individual Products and Solutions-Annuity
The Individual Products & Solutions - Annuity segment consists of individual annuity products. Deferred annuity contracts provide the customer with tax-deferred accumulation of savings and flexible payout options including lump sum, systematic withdrawal or a stream of payments for life. In addition, deferred variable annuity contracts provide the customer with access to a wide range of investment options and asset protection features. Deferred fixed annuity contracts offered by the Company generate a return for the customer at a specified interest rate fixed for prescribed periods while deferred fixed indexed annuity contracts generate a return for the customer based o market performance with caps and floors. Immediate annuities differ from deferred annuities in that the initial premium is exchanged for a stream of income for a certain period and/or for the owners lifetime without future access to the original investment. The majority of assets and recent sales for the Individual Products & Solutions - Annuity segment consist of deferred variable and fixed annuities.
42
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
Retirement Plans
The Retirement Plans segment is comprised of the private and public sector retirement plans businesses. The private sector business primarily includes Internal Revenue Code (IRC) Section 401 qualified plans funded through fixed and variable group annuity contracts issued through NLIC. The public sector business primarily includes IRC Section 457 (b) and Section 401(a) governmental plans, both in the form of full-service arrangements that provide plan administration along with fixed and variable group annuities, as well as administration-only business. Across the public and private sector business Nationwide Investment Advisors managed account services are also available. The Retirement Plans segment also includes stable value wrap products and solutions.
Individual Products and Solutions-Life and NBSG
The Individual Products & Solutions - Life and NBSG segment consists of life insurance products, including individual variable universal life, COLI and BOLI products, traditional life insurance products, fixed universal life insurance products and indexed universal life insurance products. Life insurance products provide a death benefit and, for certain products, allow the customer to build cash value on a tax-advantaged basis.
Corporate and Other
The Corporate and Other segment includes certain non-operating changes in variable annuity liabilities and non-operating realized gains and losses, related amortization and other revenues and expenses not allocated to other segments. Additionally, this segment includes the funding agreements with the FHLB.
43
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
The following tables summarize the Companys business segment operating results for the years ended:
(in millions) |
Individual Products and Solutions- Annuity |
Retirement Plans |
Individual Products and Solutions- Life and NBSG |
Corporate and Other |
Total | |||||||||||||||
December 31, 2016 |
||||||||||||||||||||
Revenues: |
||||||||||||||||||||
Policy charges |
$ | 1,313 | 107 | 941 | | $ | 2,361 | |||||||||||||
Premiums |
309 | | 296 | 37 | 642 | |||||||||||||||
Net investment income |
713 | 791 | 624 | 11 | 2,139 | |||||||||||||||
Non-operating changes in variable annuity liabilities and net realized investment losses1 |
| | | (299 | ) | (299 | ) | |||||||||||||
Other revenues2 |
| | | 14 | 14 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total revenues |
$ | 2,335 | $ | 898 | $ | 1,861 | $ | (237 | ) | $ | 4,857 | |||||||||
Benefits and expenses: |
||||||||||||||||||||
Interest credited to policyholder accounts3 |
$ | 424 | 531 | 260 | 30 | $ | 1,245 | |||||||||||||
Benefits and claims4 |
487 | | 758 | 32 | 1,277 | |||||||||||||||
Amortization of DAC |
235 | 4 | 197 | (3 | ) | 433 | ||||||||||||||
Other expenses, net of deferrals |
333 | 181 | 321 | 163 | 998 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total benefits and expenses |
$ | 1,479 | $ | 716 | $ | 1,536 | $ | 222 | $ | 3,953 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income before federal income taxes and noncontrolling interests |
$ | 856 | 182 | 325 | (459 | ) | $ | 904 | ||||||||||||
|
|
|||||||||||||||||||
Less: certain non-operating changes in variable annuity liabilities and net realized investment gains (losses)1 |
| | | (299 | ) | |||||||||||||||
Less: adjustment to amortization of DAC and other related expenses related to non-operating items above |
| | | 6 | ||||||||||||||||
Less: net loss attributable to noncontrolling interest |
| | | (91 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Pre-tax operating earnings (loss) |
$ | 856 | $ | 182 | $ | 325 | $ | (75 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Assets as of year end |
$ | 79,199 | $ | 32,239 | $ | 33,863 | $ | 10,337 | $ | 155,638 | ||||||||||
|
|
|
|
|
|
|
|
|
|
1 | Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges). |
2 | Includes operating items (trading portfolio realized gains and losses, trading portfolio valuation changes). |
3 | Includes operating items (net realized gains and losses related to certain product hedges). |
4 | Excludes certain non-operating changes in variable annuity liabilities. |
44
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(in millions) |
Individual Products and Solutions- Annuity |
Retirement Plans |
Individual Products and Solutions- Life and NBSG |
Corporate and Other |
Total | |||||||||||||||
December 31, 2015 |
||||||||||||||||||||
Revenues: |
||||||||||||||||||||
Policy charges |
$ | 1,259 | $ | 111 | $ | 846 | $ | | $ | 2,216 | ||||||||||
Premiums |
459 | | 292 | 35 | 786 | |||||||||||||||
Net investment income |
591 | 752 | 602 | 37 | 1,982 | |||||||||||||||
Non-operating changes in variable annuity liabilities and net realized investment losses1 |
| | | (56 | ) | (56 | ) | |||||||||||||
Other revenues2 |
(76 | ) | | (7 | ) | 7 | (76 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total revenues |
$ | 2,233 | $ | 863 | $ | 1,733 | $ | 23 | $ | 4,852 | ||||||||||
Benefits and expenses: |
||||||||||||||||||||
Interest credited to policyholder accounts |
$ | 328 | $ | 494 | $ | 236 | $ | 20 | $ | 1,078 | ||||||||||
Benefits and claims3 |
700 | | 705 | 29 | 1,434 | |||||||||||||||
Amortization of DAC |
13 | 7 | 115 | (67 | ) | 68 | ||||||||||||||
Other expenses, net of deferrals |
334 | 163 | 371 | 176 | 1,044 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total benefits and expenses |
$ | 1,375 | $ | 664 | $ | 1,427 | $ | 158 | $ | 3,624 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income before federal income taxes and noncontrolling interests |
$ | 858 | $ | 199 | $ | 306 | $ | (135 | ) | $ | 1,228 | |||||||||
Less: certain non-operating changes in variable annuity liabilities and net realized investment gains1 |
| | | (56 | ) | |||||||||||||||
Less: adjustment to amortization of DAC and other related expenses related to non-operating items above |
| | | 74 | ||||||||||||||||
Less: net loss attributable to noncontrolling interest |
| | | (96 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Pre-tax operating earnings (loss) |
$ | 858 | $ | 199 | $ | 306 | $ | (57 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Assets as of year end |
$ | 73,370 | $ | 30,524 | $ | 30,650 | $ | 9,634 | $ | 144,178 | ||||||||||
|
|
|
|
|
|
|
|
|
|
1 | Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges). |
2 | Includes operating items discussed above. |
3 | Excludes certain non-operating changes in variable annuity liabilities. |
45
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Notes to December 31, 2016, 2015 and 2014 Consolidated Financial Statements
(in millions) |
Individual Products and Solutions- Annuity |
Retirement Plans |
Individual Products and Solutions- Life and NBSG |
Corporate and Other |
Total | |||||||||||||||
December 31, 2014 |
||||||||||||||||||||
Revenues: |
||||||||||||||||||||
Policy charges |
$ | 1,175 | $ | 107 | $ | 783 | $ | | $ | 2,065 | ||||||||||
Premiums |
518 | | 284 | 29 | 831 | |||||||||||||||
Net investment income |
546 | 750 | 565 | 39 | 1,900 | |||||||||||||||
Non-operating net realized investment gains, including of other-than-temporary impairment losses1 |
| | | (1,051 | ) | (1,051 | ) | |||||||||||||
Other revenues2 |
(38 | ) | | 12 | 10 | (16 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total revenues |
$ | 2,201 | $ | 857 | $ | 1,644 | $ | (973 | ) | $ | 3,729 | |||||||||
Benefits and expenses: |
||||||||||||||||||||
Interest credited to policyholder accounts |
$ | 370 | $ | 482 | $ | 231 | $ | 13 | $ | 1,096 | ||||||||||
Benefits and claims |
828 | | 644 | 30 | 1,502 | |||||||||||||||
Amortization of DAC |
120 | (28 | ) | 122 | (7 | ) | 207 | |||||||||||||
Other expenses, net of deferrals |
300 | 153 | 348 | 254 | 1,055 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total benefits and expenses |
$ | 1,618 | $ | 607 | $ | 1,345 | $ | 290 | $ | 3,860 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income before federal income taxes and noncontrolling interests |
$ | 583 | $ | 250 | $ | 299 | $ | (1,263 | ) | $ | (131 | ) | ||||||||
Less: non-operating net realized investment gains, including other-than-temporary impairment losses1 |
| | | (1,051 | ) | |||||||||||||||
Less: adjustment to amortization of DAC and other related expenses related to net realized investment gains and losses |
| | | 11 | ||||||||||||||||
Less: net loss attributable to noncontrolling interest |
| | | (94 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Pre-tax operating earnings (loss) |
$ | 583 | $ | 250 | $ | 299 | $ | (129 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Assets as of year end |
$ | 72,429 | $ | 30,744 | $ | 29,322 | $ | 11,029 | $ | 143,524 | ||||||||||
|
|
|
|
|
|
|
|
|
|
1 | Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges). |
2 | Includes operating items discussed above. |
46
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Schedule I Consolidated Summary of Investments Other Than Investments in Related Parties
As of December 31, 2016 (in millions)
Column A |
Column B | Column C | Column D | |||||||||
Type of investment |
Cost | Fair value |
Amount at which shown in the consolidated balance sheet |
|||||||||
Fixed maturity securities, available-for-sale: |
||||||||||||
Bonds: |
||||||||||||
U.S. government and agencies |
$ | 596 | $ | 645 | $ | 645 | ||||||
Obligations of states, political subdivisions and foreign governments |
2,454 | 2,696 | 2,696 | |||||||||
Public utilities |
4,396 | 4,508 | 4,508 | |||||||||
All other corporate, mortgage-backed and asset-backed securities |
35,078 | 35,841 | 35,841 | |||||||||
|
|
|
|
|
|
|||||||
Total fixed maturity securities, available-for-sale |
$ | 42,524 | $ | 43,690 | $ | 43,690 | ||||||
Equity securities, available-for-sale: |
||||||||||||
Common stocks: |
||||||||||||
Industrial, miscellaneous and all other |
$ | 2 | $ | 2 | $ | 2 | ||||||
Nonredeemable preferred stocks |
| 8 | 8 | |||||||||
|
|
|
|
|
|
|||||||
Total equity securities, available-for-sale |
$ | 2 | $ | 10 | $ | 10 | ||||||
Trading assets |
54 | 54 | 54 | |||||||||
Mortgage loans, net of allowance |
9,793 | 9,760 | 1 | |||||||||
Policy loans |
989 | 989 | ||||||||||
Other investments |
1,047 | 1,047 | ||||||||||
Short-term investments |
1,944 | 1,944 | ||||||||||
|
|
|
|
|||||||||
Total investments |
$ | 56,353 | $ | 57,494 | ||||||||
|
|
|
|
1 | Difference from Column B primarily is attributable to valuation allowances due to impairments on mortgage loans (see Note 6 to the audited consolidated financial statements). |
47
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Schedule III Supplementary Insurance Information
As of December 31, 2016, 2015 and 2014 and for each of the years then ended (in millions)
Column A |
Column B | Column C | Column D | Column E | Column F | |||||||||||||||
Year: Segment |
Deferred policy acquisition costs |
Future policy benefits, losses, claims and loss expenses |
Unearned premiums1 |
Other policy claims and benefits payable1 |
Premium revenue |
|||||||||||||||
2016 |
||||||||||||||||||||
IPS - Annuity |
$ | 3,309 | $ | 18,007 | $ | 309 | ||||||||||||||
Retirement Plans |
229 | 17,443 | | |||||||||||||||||
IPS - Life and NBSG |
2,081 | 14,614 | 296 | |||||||||||||||||
Corporate and Other |
(187 | ) | 2,847 | 37 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total |
$ | 5,432 | $ | 52,911 | $ | 642 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
2015 |
||||||||||||||||||||
IPS - Annuity |
$ | 3,070 | $ | 15,160 | $ | 459 | ||||||||||||||
Retirement Plans |
222 | 15,940 | | |||||||||||||||||
IPS - Life and NBSG |
1,937 | 11,582 | 292 | |||||||||||||||||
Corporate and Other |
(29 | ) | 2,715 | 35 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total |
$ | 5,200 | $ | 45,397 | $ | 786 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
2014 |
||||||||||||||||||||
IPS - Annuity |
$ | 2,495 | $ | 12,619 | $ | 518 | ||||||||||||||
Retirement Plans |
216 | 14,905 | | |||||||||||||||||
IPS - Life and NBSG |
1,717 | 10,763 | 284 | |||||||||||||||||
Corporate and Other |
(365 | ) | 2,443 | 29 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total |
$ | 4,063 | $ | 40,730 | $ | 831 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Column A |
Column G | Column H | Column I | Column J | Column K | |||||||||||||||
Year: Segment |
Net investment income2 |
Benefits, claims, losses and settlement expenses |
Amortization of deferred policy acquisition costs |
Other operating expenses2 |
Premiums written |
|||||||||||||||
2016 |
||||||||||||||||||||
IPS - Annuity |
$ | 713 | $ | 1,074 | $ | 235 | 333 | |||||||||||||
Retirement Plans |
791 | 531 | 4 | 181 | ||||||||||||||||
IPS - Life and NBSG |
624 | 1,037 | 197 | 321 | ||||||||||||||||
Corporate and Other |
11 | 62 | (3 | ) | 163 | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total |
$ | 2,139 | $ | 2,704 | $ | 433 | $ | 998 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
2015 |
||||||||||||||||||||
IPS - Annuity |
$ | 591 | $ | 1,257 | $ | 13 | $ | 334 | ||||||||||||
Retirement Plans |
752 | 494 | 7 | 163 | ||||||||||||||||
IPS - Life and NBSG |
602 | 941 | 115 | 371 | ||||||||||||||||
Corporate and Other |
37 | 48 | (67 | ) | 176 | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total |
$ | 1,982 | $ | 2,740 | $ | 68 | $ | 1,044 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
2014 |
||||||||||||||||||||
IPS - Annuity |
$ | 546 | $ | 1,198 | $ | 120 | $ | 300 | ||||||||||||
Retirement Plans |
750 | 482 | (28 | ) | 153 | |||||||||||||||
IPS - Life and NBSG |
565 | 875 | 122 | 348 | ||||||||||||||||
Corporate and Other |
39 | 43 | (7 | ) | 254 | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total |
$ | 1,900 | $ | 2,598 | $ | 207 | $ | 1,055 | ||||||||||||
|
|
|
|
|
|
|
|
1 | Unearned premiums and other policy claims and benefits payable are included in Column C amounts. |
2 | Allocations of net investment income and certain operating expenses are based on numerous assumptions and estimates, and reported segment operating results would change if different methods were applied. |
48
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Schedule IV Reinsurance
As of December 31, 2016, 2015 and 2014 and for each of the years then ended (in millions)
Column A |
Column B | Column C | Column D | Column E | ||||||||||||
Gross amount |
Ceded to other companies |
Assumed from other companies |
Net amount |
|||||||||||||
2016 |
||||||||||||||||
Life, accident and health insurance in force |
$ | 275,404 | $ | (61,674 | ) | $ | 2 | $ | 213,732 | |||||||
Premiums: |
||||||||||||||||
Life insurance1 |
$ | 698 | $ | (56 | ) | $ | | $ | 642 | |||||||
Accident and health insurance |
313 | (313 | ) | | | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 1,011 | $ | (369 | ) | $ | | $ | 642 | |||||||
|
|
|
|
|
|
|
|
|||||||||
2015 |
||||||||||||||||
Life, accident and health insurance in force |
$ | 260,465 | $ | (60,976 | ) | $ | 5 | $ | 199,494 | |||||||
Premiums: |
||||||||||||||||
Life insurance1 |
$ | 842 | $ | (56 | ) | $ | | $ | 786 | |||||||
Accident and health insurance |
302 | (302 | ) | | | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 1,144 | $ | (358 | ) | $ | | $ | 786 | |||||||
|
|
|
|
|
|
|
|
|||||||||
2014 |
||||||||||||||||
Life, accident and health insurance in force |
$ | 241,936 | $ | (59,588 | ) | $ | 5 | $ | 182,353 | |||||||
Premiums: |
||||||||||||||||
Life insurance1 |
$ | 888 | $ | (57 | ) | $ | | $ | 831 | |||||||
Accident and health insurance |
290 | (290 | ) | | | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 1,178 | $ | (347 | ) | $ | | $ | 831 | |||||||
|
|
|
|
|
|
|
|
1 | Primarily represents premiums from traditional life insurance and life-contingent immediate annuities and excludes deposits on investment and universal life insurance products. |
49
NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)
Schedule V Valuation and Qualifying Accounts
Years ended December 31, 2016, 2015 and 2014 (in millions)
Column A |
Column B | Column C | Column D | Column E | ||||||||||||||||
Description |
Balance at beginning of period |
Charged to costs and expenses |
Charged to other accounts |
Deductions1 | Balance at end of period |
|||||||||||||||
2016 |
||||||||||||||||||||
Valuation allowances - mortgage loans |
$ | 26 | $ | 8 | $ | | $ | (2 | ) | $ | 32 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
2015 |
||||||||||||||||||||
Valuation allowances - mortgage loans |
$ | 26 | $ | 2 | $ | | $ | (2 | ) | $ | 26 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
2014 |
||||||||||||||||||||
Valuation allowances - mortgage loans |
$ | 35 | $ | (8 | ) | $ | | $ | (1 | ) | $ | 26 | ||||||||
|
|
|
|
|
|
|
|
|
|
1 | Amounts generally represent payoffs, sales and recoveries. |
50
(a) | Resolution of the Depositor's Board of Directors authorizing the establishment of the Registrant – Filed previously with registration statement (333-31725) on July 21, 1997 and hereby incorporated by reference. |
(b) | Custodian Agreements - Not Applicable. |
(c) | Underwriting or Distribution of contracts between the Depositor and Principal Underwriter – Previously filed with pre-effective amendment number 3 on September 27, 2007 and hereby incorporated by reference. |
(d) | The form of the contract - Previously filed with pre-effective amendment number 3 on September 27, 2007 and hereby incorporated by reference. |
(e) | The form of the contract application – Previously filed with pre-effective amendment number 3 on September 27, 2007 and hereby incorporated by reference. |
(f) | Depositor’s Certificate of Incorporation and By-Laws. |
(1) | Amended Articles of Incorporation for Nationwide Life Insurance Company. Filed previously with initial registration statement (333-164119) on January 4, 2010 as document "exhibitf1.htm" and hereby incorporated by reference. |
(2) | Amended and Restated Code of Regulations of Nationwide Life Insurance Company. Filed previously with initial registration statement (333-164119) on January 4, 2010 as document "exhibitf2.htm" and hereby incorporated by reference. |
(3) | Articles of Merger of Nationwide Life Insurance Company of America with and into Nationwide Life Insurance Company, effective December 31, 2009. Filed previously with initial registration statement (333-164119) on January 4, 2010 as document "exhibitf3.htm" and hereby incorporated by reference. |
(g) | Form of Reinsurance Contracts – |
(1) | Reinsurance Agreement with Hannover Life Reassurance Company of America dated October 1, 2008, previously filed on April 12, 2011 with registration statement (333-149295), as Exhibit (g)(5) and hereby incorporated by reference. |
(2) | Automatic Self Administered YRT Reinsurance Agreement #196731 with Swiss Re Life & Health America, Inc. dated October 1, 2008, previously filed on April 12, 2011 with registration statement (333-43671), as Exhibit (g)(1) and hereby incorporated by reference. |
(3) | Automatic Self Administered YRT Reinsurance Agreement #196730 with Swiss Re Life & Health America, Inc. dated October 1, 2008, previously filed on April 12, 2011 with registration statement (333-43671), as Exhibit (g)(2) and hereby incorporated by reference. |
(h) | Form of Participation Agreements – |
The following Fund Participation Agreements were previously filed on July 17, 2007 with pre-effective amendment number 1 of registration statement (333-140608) under Exhibit 26(h), and are hereby incorporated by reference. For information regarding payments Nationwide receives from underlying mutual funds, please see the "Information on Underlying Mutual Fund Payments" section of the prospectus and/or the underlying mutual fund prospectuses. |
(1) | Fund Participation Agreement with AIM Variable Insurance Funds, AIM Advisors, Inc., and AIM Distributors dated January 6, 2003, under document "aimfpa99h1.htm". |
(2) | Amended and Restated Fund Participation and Shareholder Services Agreement with American Century Investment Services, Inc. dated September 15, 2004, as amended, under document "amcentfpa99h2". |
(3) | Restated and Amended Fund Participation Agreement with The Dreyfus Corporation dated January 27, 2000, as amended, under document "dreyfusfpa99h3.htm". |
(4) | Fund Participation Agreement with Federated Insurance Series and Federated Securities Corp. dated April 1, 2006, as amended, under document "fedfpa99h4.htm". |
(5) | Fund Participation Agreement with Fidelity Variable Insurance Products Fund dated May 1, 1988, as amended, including Fidelity Variable Insurance Products Fund IV and Fidelity Variable Insurance Products Fund V, under document "fidifpa99h5.htm". |
(6) | Amended and Restated Fund Participation Agreement with Franklin Templeton Variable Insurance Products Trust and Franklin/Templeton Distributors, Inc. dated May 1, 2003; as amended, under document "frankfpa99h8.htm". |
(7) | Fund Participation Agreement, Service and Institutional Shares, with Janus Aspen Series, dated December 31, 1999, under document "janusfpa99h9a.htm". |
(8) | Fund Participation Agreement with Nationwide Variable Insurance Trust (formerly, Gartmore Variable Insurance Trust) dated May 2, 2005, as amended, under document "nwfpa99h12a.htm". |
(9) | Fund Participation Agreement with Neuberger Berman Advisers Management Trust / Lehman Brothers Advisers Management Trust (formerly, Neuberger Berman Advisers Management Trust) dated January 1, 2006, under document "neuberfpa99h13.htm". |
(10) | Fund Participation Agreement with Oppenheimer Variable Account Funds and Oppenheimer Funds, Inc. dated April 13, 2007, under document "oppenfpa99h14.htm". |
(11) | Fund Participation Agreement with T. Rowe Price Equity Series, Inc., T. Rowe Price International Series, Inc., T. Rowe Price Fixed Income Series, Inc., and T. Rowe Price Investment Services, Inc. dated October 1, 2002, as amended, under document "trowefpa99h15.htm". |
(12) | Fund Participation Agreement with The Universal Institutional Funds, Inc., Morgan Stanley Distribution, Inc., and Morgan Stanley Investment Management, Inc. dated February 1, 2002, as amended, under document "univfpa99h16.htm". |
(13) | Fund Participation Agreement (Amended and Restated) with Alliance Capital Management L.P. and Alliance-Bernstein Investment Research and Management, Inc. dated June 1, 2003, as document "alliancebernsteinfpa.htm". |
(14) | Fund Participation Agreement with American Funds Insurance Series and Capital Research and Management Company, dated July 20, 2005, as document "americanfundsfpa.htm". |
(15) | Fund Participation Agreement with BlackRock (formerly FAM Distributors, Inc. and FAM Variable Series Funds, Inc.) dated April 13, 2004, as amended, as document "blackrockfpa.htm". |
(16) | Fund Participation Agreement with Davis Variable Account Fund and Davis Distributors, LLC dated August 7, 2007, as document "davisfpa.htm". |
(17) | Fund Participation Agreement with DWS Variable Series I and DWS Variable Series II (formerly Scudder Variable Series I, Scudder Variable Series II), Deutsche Investment Management Americas, Inc. and DWS Investments Distributors, Inc. (formerly DWS Scudder Distributors, Inc.) dated July 1, 2004, as document "dwsfpa.htm". |
(18) | Fund Participation with Legg Mason Partners Variable Portfolio I, Inc. (formerly Salomon Brothers Variable Series Funds Inc. and Salomon Brothers Asset Management Inc. dated September, 1999, as amended, as document "leggmasonfpa.htm". |
(19) | Fund Participation Agreement with Lincoln Variable Insurance Products Trust, Lincoln Financial Distributors, Inc., and Lincoln Investment Advisors Corporation dated June 5, 2007, as document "lincolnfpa.htm". |
(20) | Fund Participation Agreement with Lord Abbett Series Fund, Inc. and Lord Abbett Distributor LLC dated December 31, 2002, as amended, as document "lordabbettfpa.htm". |
(21) | Fund Participation Agreement with PIMCO Variable Insurance Trust and PIMCO Fund Distributors, LLC dated March 28, 2002, as amended, as document "pimcofpa.htm". |
(22) | Fund Participation Agreement with Pioneer Variable Contracts Trust, Pioneer Investment Management, Inc. and Pioneer Fund Distributor, Inc., dated September 27, 2002, as amended, as document "pioneerfpa.htm". |
(23) | Fund Participation Agreement with Putnam Variable Trust and Putnam Retail Management, L.P. dated February 1, 2002, as amended, as document "putnamfpa.htm". |
(24) | Fund Participation Agreement with Royce & Associates dated February 14, 2002, as amended, as document "roycefpa.htm". |
(25) | Fund Participation Agreement Van Eck Investment Trust, Van Eck Associates Corporation, Van Eck Securities Corporation dated September 1, 1989, as amended, as document "vaneckfpa.htm". |
(26) | Fund Participation Agreement with Waddell & Reed Services Company and Waddell & Reed, Inc., dated December 1, 2000, as amended, as document "waddellreedfpa.htm". |
(27) | Fund Participation Agreement with Wells Fargo Management, LLC, Stephens, Inc. dated November 15, 2004, as amended, as document "wellsfargofpa.htm". |
(28) | Fund Participation Agreement with Delaware Management Company and Delaware Distributors, L.P. dated February 5, 2008, as amended, as document "delawarefpa.htm". |
(29) | Fund Participation Agreement with Eaton Vance Variable Trust and Eaton Vance Distributors, Inc. dated March 24, 2011, as document "eatonvancefpa.htm". |
(30) | Fund Participation Agreement with Goldman Sachs Variable Insurance Trust, and Goldman Sachs & Co. dated December 22, 1998, as document "goldmansachsfpa.htm". |
(31) | Fund Participation Agreement with Lazard Retirement Series, Inc., and Lazard Asset Management Securities LLC dated April 13, 2009, as document "lazardfpa.htm". |
(32) | Fund Participation Agreement with J.P. Morgan Series Trust II, dated February 18, 2003, under document "jpmorganfpa.htm". |
(33) | Fund Participation Agreement among MFS Variable Insurance Trust, MFS Variable Insurance Trust II, Nationwide Financial Services, Inc., and MFS Fund Distributors, Inc., dated May 2, 2011, as document "mfsfpa.htm." |
(i) | Administrative Contracts |
The following Administrative Agreements were previously filed on July 17, 2007 with pre-effective amendment number 1 of registration statement (333-140608) under Exhibit 26(i), and are hereby incorporated by reference. | |
(1) |
(a) | Administrative Services Agreement with AIM Advisors, Inc. dated July 1, 2005, as amended, under document "aimasa99i1a.htm" |
(b) | Financial Support Agreement with AIM Variable Insurance Funds dated July 1, 2005, under document "aimasa99i1b.htm" |
(2) | Amended and Restated Fund Participation and Shareholder Services Agreement with American Century Investment Services, Inc. dated September 15, 2004, as amended. See Exhibit B for information related to administrative services, under document "amcentasa99i2.htm" |
(3) | Restated Administrative Services Agreement with The Dreyfus Corporation dated June 1, 2003, as amended, and 12b-1 letter agreement dated June 1, 2003, as amended, under document "dreyfusasa99i3.htm" |
(a) | Dealer Agreement with Federated Securities Corp dated October 26, 2006, under document "fedasa99i4a.htm" |
(b) | Fund Participation Agreement with Federated Insurance Series and Federated Securities Corp. dated April 1, 2006, as amended. See Exhibit B of Fund Participation Agreement for information related to administrative services, under document "fedasa99i4b.htm" |
(a) | Administrative Service Agreement with Fidelity Investments Institutional Operations Company, Inc. dated April 1, 2002, as amended, HTML file name "fidiiiasa99i5a.htm" |
(b) | Service Contract, with Fidelity Distributors Corporation dated April 1, 2002, as amended, under document "fidiiiasa99i5b.htm" |
(6) | Administrative Services Agreement with Franklin Templeton Services, LLC dated May 1, 2003, as amended, under document "frankasa99i6.htm" |
(7) | Distribution and Shareholder Services Agreement with Janus Distributors, Inc. dated December 31, 1999, under document "janusasa99i7.htm" |
(8) | Fund Participation Agreement with Nationwide Variable Insurance Trust (formerly, Gartmore Variable Insurance Trust) dated May 2, 2005, as amended, under document "nwasa99i10.htm" |
(9) | Fund Participation Agreement with Neuberger Berman Management Inc. dated January 1, 2006, under document "neuberasa99i11.htm" |
(10) | Revenue Sharing Agreement with Oppenheimer Funds dated April 17, 2007, under document "oppenasa99i12.htm" |
(11) | Administrative Services Letter Agreement with T. Rowe Price Associates, Inc. and T. Rowe Price International, Inc. dated October 1, 2002, as amended, under document "troweasa99i13.htm" |
(12) | Administrative Services Agreement with Morgan Stanley Distribution, Inc. (The Universal Institutional Funds, Inc.) dated May 5, 2005, as amended, under document "univasa99i14.htm" |
(13) | Administrative Services Agreement with Alliance Fund Distributors, Inc. dated June 3, 2003, as document "alliancebernsteinasa.htm". |
(14) | Business Agreement with American Funds Distributors, Inc. and Capital Research and Management Company dated July 20, 2005, as document "americanfundasa.htm". |
(15) | Administrative Services Agreement with BlackRock (formerly, FAM Distributors, Inc., and Merrill Lynch Variable Series Funds, Inc.) dated April 13, 2004, as amended, as document "blackrockasa.htm". |
(16) | Administrative Service Agreement with Davis Distributors, LLC dated August 7, 2007, as document "davisasa.htm". |
(17) | Fund Participation Agreement with DWS Variable Series I and DWS Variable Series II (formerly Scudder Variable Series I, Scudder Variable Series II), Deutsche Investment Management Americas, Inc. and DWS Investments Distributors, Inc. (formerly DWS Scudder Distributors, Inc.) dated July 1, 2004, as document "dwsfpa.htm" |
(18) | Administrative Services Agreement with Legg Mason Partners Variable Portfolios I, Inc. (formerly Salomon Brothers Asset Management Inc.) dated September 1999, as amended, as document "leggmasonasa.htm". |
(a) | Administrative Services Agreement with Lincoln Investment Advisors Corporation dated June 5, 2007, as document "lincolnasaa.htm". |
(b) | Distribution Services Agreement between Nationwide Investment Services Corporation (general distributor) and Lincoln Financial Distributors, Inc. dated June 5, 2007, as document "lincolnasab.htm". |
(20) | Administrative Services Agreement with Lord Abbett Series Fund, Inc. dated December 31, 2002, as amended, as document "lordabbettasa.htm". |
(a) | Administrative Services Agreement with Pacific Investment Management Company LLC dated March 28, 2002, as amended, as document "pimcoasaa.htm". |
(b) | Administrative Services Agreement with PIMCO Variable Insurance Trust dated March 28, 2002, as amended, as document "pimcoasab.htm". |
(22) | Fund Participation Agreement with Pioneer Variable Contracts Trust, Pioneer Investment Management, Inc. and Pioneer Fund Distributor, Inc., dated September 27, 2002, as amended, as document "pioneerfpa.htm" |
(23) | Administrative Services Agreement with Putnam Retail Management Limited Partnership dated August 1, 2006, as amended, as document "putnamasa.htm". |
(24) | Fund Participation Agreement with Royce & Associates dated February 14, 2002, as amended, as document "roycefpa.htm" |
(25) | Administrative Services Agreement with Van Eck Securities Corporation dated November 3, 1997, as amended, as document "vaneckasa.htm". |
(26) | Administrative Services Agreement with Waddell & Reed, Inc. dated December 1, 2000, as amended, as document "waddellreedasa.htm". |
(27) | Administrative Services Agreement with Wells Fargo Funds Management, LLC and Stephens, Inc. dated November 15, 2004, as amended, as document "wellsfargoasa.htm". |
(28) | Administrative Services Agreement with Delaware Distributors, L.P. dated February 5, 2008, as amended, as document "delawareasa.htm". |
(29) | Shareholder Servicing Agreement with Eaton Vance Variable Trust dated March 24, 2011, as document "eatonvanceasa.htm". |
(30) | Administrative Services Agreement with Goldman, Sachs & Co., dated January 6, 1999, as document "goldmansachsasa.htm". |
(31) | Administrative Services Agreement with Lazard Retirement Series, Inc., dated April 13, 2009, as document "lazardasa.htm". |
(32) | Fund Participation Agreement with J.P. Morgan Series Trust II, dated February 18, 2003, under document "jpmorganfpa.htm". |
(33) | Letter Agreement between MFS Fund Distributors, Inc. ("MFD") and Nationwide Financial Services, Inc., dated January 30, 2013, as document "mfsasa.htm." |
(j) | Other Material Contracts - Not Applicable. |
(k) | Opinion of Counsel – Filed previously with registration statement (333-137202) on September 8, 2006 under document "legalopinion.htm" and hereby incorporated by reference. |
(l) | Actuarial Opinion - Not Applicable. |
(m) | Calculation - Not Applicable. |
(n) | Consent of Independent Registered Public Accounting Firm – Attached hereto. |
(o) | Omitted Financial Statements - Not Applicable. |
(p) | Initial Capital Agreements - Not Applicable. |
(q) | Redeemability Exemption – Filed previously with registration statement (333-137202) on April 23, 2013 under document " d470016dex99q.htm" and hereby incorporated by reference. |
(99) | Power of Attorney – Attached hereto. |
President and Chief Operating Officer and Director | Kirt A. Walker |
Executive Vice President-Chief Information Officer | Michael C. Keller |
Executive Vice President-Chief Human Resources Officer | Gale V. King |
Executive Vice President | Mark A. Pizzi |
Executive Vice President and Director | Mark R. Thresher |
Senior Vice President | Harry H. Hallowell |
Senior Vice President | Sandra L. Rich |
Senior Vice President and Treasurer | David LaPaul |
Senior Vice President-Chief Financial Officer and Director | Timothy G. Frommeyer |
Senior Vice President-Chief Information Officer, NF Systems | Michael A. Richardson |
Senior Vice President-Head of Taxation | Pamela A. Biesecker |
Senior Vice President-Individual Products & Solutions and Director | Eric S. Henderson |
Senior Vice President-Integrated Relationship Strategies | Rondal L. Ransom |
Senior Vice President-Investment Management Group | Michael S. Spangler |
Senior Vice President-Marketing Services | Tiffanie Hiibner |
Senior Vice President-Nationwide Financial | Steven C. Power |
Senior Vice President-Nationwide Financial Network | Peter A. Golato |
Senior Vice President-NF Distribution and Sales | Tina S. Ambrozy |
Senior Vice President-NF Legal | Rae Ann Dankovic |
Senior Vice President-NF Marketing | Jennifer B. MacKenzie |
Senior Vice President-NI Enterprise Brand Marketing | Michael A. Boyd |
Senior Vice President-Digital Marketing | Ann S. Bair |
Senior Vice President-NW Retirement Plans and Director | John L. Carter |
Senior Vice President-President, Nationwide Growth Solutions | Terri L. Hill |
Director | Stephen S. Rasmussen |
Company | Jurisdiction
of Domicile |
Brief Description of Business |
Nationwide Financial Services, Inc. | Delaware | The company acts primarily as a holding company for companies within the Nationwide organization that offer or distribute life insurance, long-term savings and retirement products. |
NFS Distributors, Inc. | Delaware | The company acts primarily as a holding company for Nationwide Financial Services, Inc. companies. |
Nationwide Financial General Agency, Inc. | Pennsylvania | The company is a multi-state licensed insurance agency. |
Nationwide Fund Distributors, LLC | Delaware | The company is a limited purpose broker-dealer. |
Nationwide Fund Management, LLC | Delaware | The company provides administration, transfer and dividend disbursing agent services to various mutual fund entities. |
Nationwide Retirement Solutions, Inc. | Delaware | The company markets and administers deferred compensation plans for public employees. |
Nationwide Securities, LLC | Delaware | The company is a registered broker-dealer. |
Nationwide Bank | Federal | This is a federally savings bank chartered by the Office of Thrift Supervision in the United States Department of Treasury to exercise deposit, lending, agency, custody and fiduciary powers and to engage in activities permissible for federal savings banks under the Home Owners’ Loan Act of 1933. |
Company | Jurisdiction
of Domicile |
Brief Description of Business |
Nationwide Financial Services Capital Trust | Delaware | The trust’s sole purpose is to issue and sell certain securities representing individual beneficial interests in the assets of the trust |
Nationwide Life Insurance Company2 | Ohio | A stock corporation. The corporation provides individual life insurance, group and health insurance, fixed and variable annuity products and other life insurance products. |
Jefferson National Financial Corporation | Delaware | A stock corporation. The corporation is the holding company of Jefferson National Life Insurance Company, Jefferson National Life Insurance Company of New York, Jefferson National Securities Corporation, and JNF Advisors, Inc., offering annuity products and services. |
Jefferson National Life Insurance Company | Texas | The company provides life, health and annuity products. |
Jefferson National Life Insurance Company of New York | New York | The company provides variable annuity products. |
Jefferson National Securities Corporation | Delaware | The company is a limited purpose broker-dealer and distributor of variable annuities for Jefferson National Life Insurance Company and Jefferson National Life Insurance Company of New York. |
JNF Advisors, Inc. | Delaware | The company is an investment advisory firm but currently manages no assets. |
MFS Variable Account2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Multi-Flex Variable Account2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-II2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-32,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-42,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-52,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-62,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-72,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-82,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-92,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-102,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-112,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-122,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-132,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Variable Account-142,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Provident VA Separate Account 12,3 | Pennsylvania | A separate account issuing variable annuity contracts. |
Nationwide VLI Separate Account2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-22,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-32,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-42,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-52,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-62,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-72,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide Provident VLI Separate Account 12,3 | Pennsylvania | A separate account issuing variable life insurance policies. |
Company | Jurisdiction
of Domicile |
Brief Description of Business |
Nationwide Investment Services Corporation3 | Oklahoma | This is a limited purpose broker-dealer and distributor of variable annuities and variable life products for Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company. The company also provides educational services to retirement plan sponsors and its participants. |
Nationwide Financial Assignment Company3 | Ohio | The company is an administrator of structured settlements. |
Nationwide Investment Advisors, LLC3 | Ohio | The company provides investment advisory services. |
Eagle Captive Reinsurance, LLC3 | Ohio | The company is engaged in the business of insurance |
Nationwide Life and Annuity Insurance Company2,3 | Ohio | The company engages in underwriting life insurance and granting, purchasing and disposing of annuities. |
Nationwide VA Separate Account-A2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-B2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-C2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-D2,3 | Ohio | A separate account issuing variable annuity contracts. |
Nationwide Provident VA Separate Account A2,3 | Delaware | A separate account issuing variable annuity contracts. |
Nationwide VL Separate Account-A2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VL Separate Account-B2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VL Separate Account-C2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VL Separate Account-D2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide VL Separate Account-G2,3 | Ohio | A separate account issuing variable life insurance policies. |
Nationwide Provident VLI Separate Account A2,3 | Delaware | A separate account issuing variable life insurance policies. |
Olentangy Reinsurance, LLC3 | Vermont | The company is a captive life reinsurance company. |
Registered Investment Advisors Services, Inc.3 | Texas | The company is a technology company that facilitates third-party money management services for registered investment advisors |
Nationwide Fund Advisors3,4 | Delaware | The trust acts as a registered investment advisor. |
1 | This subsidiary/entity is controlled by its immediate parent through contractual association. |
2 | This subsidiary/entity files separate financial statements. |
3 | Information for this subsidiary/entity is included in the consolidated financial statements of its immediate parent. |
4 | This subsidiary/entity is a business trust. |
(a) | NISC serves as principal underwriter and general distributor for the following separate investment accounts of Nationwide or its affiliates: |
MFS Variable Account | Nationwide VA Separate Account-C |
Multi-Flex Variable Account | Nationwide VA Separate Account-D |
Nationwide Variable Account | Nationwide VLI Separate Account |
Nationwide Variable Account-II | Nationwide VLI Separate Account-2 |
Nationwide Variable Account-3 | Nationwide VLI Separate Account-3 |
Nationwide Variable Account-4 | Nationwide VLI Separate Account-4 |
Nationwide Variable Account-5 | Nationwide VLI Separate Account-5 |
Nationwide Variable Account-6 | Nationwide VLI Separate Account-6 |
Nationwide Variable Account-7 | Nationwide VLI Separate Account-7 |
Nationwide Variable Account-8 | Nationwide VL Separate Account-A |
Nationwide Variable Account-9 | Nationwide VL Separate Account-C |
Nationwide Variable Account-10 | Nationwide VL Separate Account-D |
Nationwide Variable Account-11 | Nationwide VL Separate Account-G |
Nationwide Variable Account-12 | Nationwide Provident VA Separate Account 1 |
Nationwide Variable Account-13 | Nationwide Provident VA Separate Account A |
Nationwide Variable Account-14 | Nationwide Provident VLI Separate Account 1 |
Nationwide VA Separate Account-A | Nationwide Provident VLI Separate Account A |
Nationwide VA Separate Account-B |
(b) | Directors and Officers of NISC: |
President | Robert O. Cline |
Vice President-Chief Compliance Officer | James J. Rabenstine |
Vice President-Tax | Daniel P. Eppley |
Vice President-Property Management & Accounting and Financial Operations | Peter J. Rothermel |
Associate Vice President-Nationwide Financial Services Distribution Compliance | Valerie Hamilton |
Associate Vice President and Secretary | Kathy R. Richards |
Associate Vice President and Treasurer | Christopher Igodan, Jr. |
Associate Vice President and Assistant Treasurer | J. Morgan Elliott |
Associate Vice President and Assistant Treasurer | John A. Reese |
Associate Vice President and Assistant Treasurer | Sarah E. Zureich |
Assistant Secretary | Keith W. Hinze |
Director | John L. Carter |
Director | Eric S. Henderson |
Director | Tina Ambrozy |
Name of Principal Underwriter | Net
Underwriting Discounts and Commissions |
Compensation
on Redemption or Annuitization |
Brokerage
Commissions |
Compensation | ||||
Nationwide Investment Services
Corporation |
N/A | N/A | N/A | N/A |
Nationwide VLI Separate Account-4 |
(Registrant) |
Nationwide Life Insurance Company |
(Depositor) |
By: /s/ PAIGE L. RYAN |
Paige
L. Ryan Attorney-in-Fact |
KIRT A. WALKER | |
Kirt A. Walker, President and Chief Operating Officer, and Director | |
MARK R. THRESHER | |
Mark R. Thresher, Executive Vice President and Director | |
TIMOTHY G. FROMMEYER | |
Timothy G. Frommeyer, Senior Vice President-Chief Financial Officer and Director | |
ERIC S. HENDERSON | |
Eric S. Henderson, Senior Vice President - Individual Products & Solutions and Director | |
JOHN L. CARTER | |
John L. Carter, Senior Vice President – Nationwide Retirement Plans and Director | |
STEPHEN S. RASMUSSEN | |
Stephen S. Rasmussen, Director | |
By /s/ PAIGE L. RYAN | |
Paige
L. Ryan Attorney-in-Fact |
Variable Annuities and Variable Life Insurance Policies | ||
Separate Account (1940 Act File No.) | 1933 Act File Nos. | |
MFS Variable Account (811-2662) | 002-73432 | |
Multi-Flex Variable Account (811-3338) | 033-23905, 002-75174 | |
Nationwide Variable Account (811-2716) | 002-58043, 333-80481, 033-60239, 333-176908 | |
Nationwide Variable Account-II (811-3330) | 002-75059, 033-67636, 033-60063, 333-103093, 333-103094, 333-103095, 333-104513, 333-104511, 333-104512, 333-104510, 333-151990, 333-105992, 333-147273, 333-140621, 333-144053, 333-147198, 333-160635, 333-164886, 333-168818, 333-177934, 333-177581, 333-177582, 333-177316, 333-177319, 333-177439, 333-177441, 333-177729, 333-177731, 333-173349, 333-177938, 333-182494 | |
Nationwide Variable Account-3 (811-5405) | 033-18422, 033-24434 | |
Nationwide Variable Account-4 (811-5701) | 033-25734, 033-26454, 333-62692, 333-135650, 333-140812, 333-201820 | |
Nationwide Variable Account-5 (811-8142) | 033-71440 | |
Nationwide Variable Account-6 (811-8684) | 033-82370, 333-21909 | |
Nationwide Variable Account-7 (811-8666) | 033-82190, 033-82174, 033-89560 | |
Nationwide Variable Account-8 (811-7357) | 033-62637, 033-62659 | |
Nationwide Variable Account-9 (811-08241) | 333-28995, 333-52579, 333-56073, 333-53023, 333-79327, 333-69014, 333-75360 | |
Nationwide Variable Account-10 (811-09407) | 333-81701 | |
Nationwide Variable Account-11 (811-10591) | 333-74904, 333-74908 | |
Nationwide Variable Account-12 (811-21099) | 333-88612, 333-108894, 333-178057, 333-178059 | |
Nationwide Variable Account-13 (811-21139) | 333-91890 | |
Nationwide Variable Account-14 (811-21205) | 333-104339 | |
Nationwide VA Separate Account-A (811-5606) | 033-85164, 033-22940 | |
Nationwide VA Separate Account-B (811-06399) | 033-86408, 033-93482, 333-11415 | |
Nationwide VA Separate Account-C (811-7908) | 033-66496, 333-44485 | |
Nationwide VA Separate Account-D (811-10139) | 333-45976 | |
Nationwide VLI Separate Account (811-4399) | 033-00145, 033-44290, 033-35698 | |
Nationwide VLI Separate Account-2 (811-5311) | 033-16999, 033-62795, 033-42180, 033-35783, 033-63179, 333-27133 | |
Nationwide VLI Separate Account-3 (811-6140) | 033-44789, 033-44296 | |
Nationwide VLI Separate Account-4 (811-08301) | 333-31725, 333-43671, 333-52617, 333-94037, 333-52615, 333-53728, 333-69160, 333-83010, 333-137202, 333-153343, 333-169879 | |
Nationwide VLI Separate Account-5 (811-10143) | 333-46338, 333-46412, 333-66572, 333-121881, 333-125481, 333-125482 | |
Nationwide VLI Separate Account-6 (811-21398) | 333-106908 | |
Nationwide VLI Separate Account-7 (811-21610) | 333-117998, 333-121879, 333-146649, 333-140606, 333-149295, 333-156020, 333-182893, 333-182887 | |
Nationwide VL Separate Account-A (811-6137) | 033-44792, 033-44300, 033-35775, 333-27123, 333-22677 |
Variable Annuities and Variable Life Insurance Policies | ||
Separate Account (1940 Act File No.) | 1933 Act File Nos. | |
Nationwide VL Separate Account-B (811-07819) | 333-12333 | |
Nationwide VL Separate Account-C (811-8351) | 333-43639, 333-36869 | |
Nationwide VL Separate Account-D (811-08891) | 333-59517 | |
Nationwide VL Separate Account-G (811-21697) | 333-121878, 333-140608, 333-146073, 333-146650, 333-149213, 333-155153, 333-182897, 333-182896, Nationwide® Variable Universal Life Accumulator (1933 Act No. TBD), Nationwide® Variable Universal Life Protector (1933 Act No. TBD), Nationwide Marathon® Variable Universal Life Accumulator (1933 Act No. TBD), Nationwide Marathon® Variable Universal Life Protector (1933 Act No. TBD) | |
Nationwide Provident VA Separate Account 1 (811-7708) | 333-164127; 333-164125; 333-164126; 333-164124 | |
Nationwide Provident VLI Separate Account 1 (811-4460) | 333-164180; 333-164117; 333-164178; 333-164179; 333-164119; 333-164120; 333-164115; 333-164118; 333-164116 | |
Nationwide Provident VA Separate Account A (811-6484) | 333-164131; 333-164130; 333-164132; 333-164129; 333-164128 | |
Nationwide Provident VLI Separate Account A (811-8722) | 333-164188; 333-164123; 333-164185; 333-164122; 333-164121 |
General Account Products | ||
Insurance Company | 1933 Act File Nos. | |
Nationwide Life Insurance Company | 333-133163, 333-196863, 333-149613, 333-155368, 333-160418, 333-200329, 333-203062 | |
Nationwide Life and Annuity Insurance Company | 333-47640 |
/s/ Timothy G. Frommeyer | /s/ Eric S. Henderson | |
TIMOTHY G. FROMMEYER, Director | ERIC S. HENDERSON, Director | |
/s/ Stephen S. Rasmussen | /s/ Mark R. Thresher | |
STEPHEN S. RASMUSSEN, Director | MARK R. THRESHER, Director | |
/s/ Kirt A. Walker | /s/ John L.Carter | |
KIRT A. WALKER, Director | JOHN L. CARTER, Director |