MONY CLOSED BLOCK OF BUSINESS (Tables)

6 Months Ended

Jun. 30, 2015

MONY CLOSED BLOCK OF BUSINESS

Summary of financial information for the Closed Block

	Successor		Predecessor
	Company		Company
	As of		As of
	June 30, 2015		December 31, 2014
	(Dollars In Thousands)		(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	6,062,552	$	6,138,505
Policyholder dividend obligation	52,283		366,745
Other liabilities	18,885		53,838
Total closed block liabilities	6,133,720		6,559,088
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,424,934	$	4,524,037
Equity securities, available-for-sale, at fair value	—		5,387
Mortgage loans on real estate	345,678		448,855
Policy loans	755,692		771,120
Cash and other invested assets	34,511		30,984
Other assets	154,346		221,270
Total closed block assets	5,715,161		6,001,653
Excess of reported closed block liabilities over closed block assets	418,559		557,435
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of deferred tax benefit of $0 (Successor) and $0 (Predecessor); net of policyholder dividend obligation of $166,434 (Successor) and $106,886 (Predecessor)	—		—
Future earnings to be recognized from closed block assets and closed block liabilities	$	418,559	$	557,435

Schedule of reconciliation of the policyholder dividend obligation

	Successor			Predecessor
	Company			Company
	February 1, 2015			January 1, 2015			For The Six
	to			to			Months Ended
	June 30, 2015			January 31, 2015			June 30, 2014
	(Dollars In Thousands)			(Dollars In Thousands)
Policyholder dividend obligation, beginning of period	$	323,432		$	366,745		$	190,494
Applicable to net revenue (losses)	(15,096		)	(1,369		)	(6,951		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation	(256,053		)	135,077			145,329
Policyholder dividend obligation, end of period	$	52,283		$	500,453		$	328,872

Schedule of Closed Block revenues and expenses

	Successor				Predecessor
	Company				Company
	For The Three		February 1, 2015		January 1, 2015		For The Three		For The Six
	Months Ended		to		to		Months Ended		Months Ended
	June 30, 2015		June 30, 2015		January 31, 2015		June 30, 2014		June 30, 2014
	(Dollars In Thousands)				(Dollars In Thousands)
Revenues
Premiums and other income	$	49,998	$	81,669	$	15,065	$	53,073	$	102,846
Net investment income (loss)	54,833		87,681		19,107		60,416		112,623
Net investment gains (losses)	2,216		2,850		568		1,086		6,105
Total revenues	107,047		172,200		34,740		114,575		221,574
Benefits and other deductions
Benefits and settlement expenses	98,975		154,746		31,152		103,209		199,535
Other operating expenses	263		474		—		383		90
Total benefits and other deductions	99,238		155,220		31,152		103,592		199,625
Net revenues before income taxes	7,809		16,980		3,588		10,983		21,949
Income tax expense	2,733		5,943		1,256		3,844		7,682
Net revenues	$	5,076	$	11,037	$	2,332	$	7,139	$	14,267