MONY CLOSED BLOCK OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 2014

MONY CLOSED BLOCK OF BUSINESS

Summary of financial information for the Closed Block

	As of
	September 30, 2014		December 31, 2013
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other	$	6,172,310	$	6,261,819
Policyholder dividend obligation	301,215		190,494
Other liabilities	28,102		1,259
Total closed block liabilities	6,501,627		6,453,572
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,441,257	$	4,113,829
Equity securities, available-for-sale, at fair value	5,384		5,223
Mortgage loans on real estate	483,836		601,959
Policy loans	780,450		802,013
Cash and other invested assets	16,411		140,577
Other assets	214,785		206,938
Total closed block assets	5,942,123		5,870,539
Excess of reported closed block liabilities over closed block assets	559,504		583,033
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of deferred tax benefit of $0 and $1,074 net of policyholder dividend obligation of $69,409 and $12,720	—		(1,994		)
Future earnings to be recognized from closed block assets and closed block liabilities	$	559,504	$	581,039

Schedule of reconciliation of the policyholder dividend obligation

	For The
	Nine Months Ended
	September 30, 2014
	(Dollars In Thousands)
Policyholder dividend obligation, at December 31, 2013	$	190,494
Applicable to net revenue (losses)	(8,781		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation	119,502
Policyholder dividend obligation, end of period	$	301,215

Schedule of Closed Block revenues and expenses

	For The		For The
	Three Months Ended		Nine Months Ended
	September 30, 2014		September 30, 2014
	(Dollars In Thousands)
Revenues
Premiums and other income	$	48,596	$	151,442
Net investment income	63,847		176,470
Net investment gains	223		6,328
Total revenues	112,666		334,240
Benefits and other deduction
Benefits and settlement expenses	101,200		300,735
Other operating expenses	286		376
Total benefits and other deductions	101,486		301,111
Net revenues before income taxes	11,180		33,129
Income tax expense	3,913		11,595
Net revenues	$	7,267	$	21,534