MONY CLOSED BLOCK OF BUSINESS (Tables)

12 Months Ended

Dec. 31, 2014

MONY CLOSED BLOCK OF BUSINESS

Summary of financial information for the Closed Block

	As of December 31,
	2014		2013
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other	$	6,138,505	$	6,261,819
Policyholder dividend obligation	366,745		190,494
Other liabilities	53,838		1,259
Total closed block liabilities	6,559,088		6,453,572
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,524,037	$	4,113,829
Equity securities, available-for-sale, at fair value	5,387		5,223
Mortgage loans on real estate	448,855		601,959
Policy loans	771,120		802,013
Cash and other invested assets	30,984		140,577
Other assets	221,270		206,938
Total closed block assets	6,001,653		5,870,539
Excess of reported closed block liabilities over closed block assets	557,435		583,033
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of deferred tax benefit of $0 and $1,074 net of policyholder dividend obligation of $106,886 and $12,720	—		(1,994		)
Future earnings to be recognized from closed block assets and closed block liabilities	$	557,435	581,039

Schedule of reconciliation of the policyholder dividend obligation

	For The
	Year Ended
	December 31,
	2014			2013
	(Dollars In Thousands)
Policyholder dividend obligation, beginning balance	$	190,494		$	213,350
Applicable to net revenue (losses)	(910		)	(10,136		)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	177,161			(12,720		)
Policyholder dividend obligation, end of period	$	366,745		$	190,494

Schedule of Closed Block revenues and expenses

	For The Year Ended
	December 31,
	2014		2013
	(Dollars In Thousands)
Revenues
Premiums and other income	$	212,765	$	64,171
Net investment income	239,028		51,141
Net investment gains	10,528		9,252
Total revenues	462,321		124,564
Benefits and other deductions
Benefits and settlement expenses	417,667		113,564
Other operating expenses	674		548
Total benefits and other deductions	418,341		114,112
Net revenues before income taxes	43,980		10,452
Income tax expense	20,377		3,658
Net revenues	$	23,603	$	6,794