MONY CLOSED BLOCK OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 2015

MONY CLOSED BLOCK OF BUSINESS

Summary of financial information for the Closed Block

	Successor		Predecessor
	Company		Company
	As of		As of
	September 30, 2015		December 31, 2014
	(Dollars In Thousands)		(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	6,036,312	$	6,138,505
Policyholder dividend obligation	58,435		366,745
Other liabilities	33,706		53,838
Total closed block liabilities	6,128,453		6,559,088
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,426,194	$	4,524,037
Equity securities, available-for-sale, at fair value	—		5,387
Mortgage loans on real estate	247,797		448,855
Policy loans	749,908		771,120
Cash and other invested assets	131,183		30,984
Other assets	161,407		221,270
Total closed block assets	5,716,489		6,001,653
Excess of reported closed block liabilities over closed block assets	411,964		557,435
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of policyholder dividend obligation of $(154,143) (Successor) and $106,886 (Predecessor)	—		—
Future earnings to be recognized from closed block assets and closed block liabilities	$	411,964	$	557,435

Schedule of reconciliation of the policyholder dividend obligation

	Successor			Predecessor
	Company			Company
	February 1, 2015			January 1, 2015			For The Nine
	to			to			Months Ended
	September 30, 2015			January 31, 2015			September 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)	(27,854		)	(1,369		)	(8,781		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $(83,000) (Successor); $47,277 (2015 - Predecessor); $38,448 (2014 - Predecessor)	(237,143		)	135,077			119,502
Policyholder dividend obligation, end of period	$	58,435		$	500,453		$	301,215

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 Nine
	Months Ended		to		to		Months Ended		Months Ended
	September 30, 2015		September 30, 2015		January 31, 2015		September 30, 2014		September 30, 2014
	(Dollars In Thousands)				(Dollars In Thousands)
Revenues
Premiums and other income	$	46,610	$	128,279	$	15,065	$	48,596	$	151,442
Net investment income (loss)	54,593		142,274		19,107		63,847		176,470
Net investment gains (losses)	167		3,017		568		223		6,328
Total revenues	101,370		273,570		34,740		112,666		334,240
Benefits and other deductions
Benefits and settlement expenses	90,966		245,711		31,152		101,200		300,735
Other operating expenses	258		733		—		286		376
Total benefits and other deductions	91,224		246,444		31,152		101,486		301,111
Net revenues before income taxes	10,146		27,126		3,588		11,180		33,129
Income tax expense	3,551		9,494		1,256		3,913		11,595
Net revenues	$	6,595	$	17,632	$	2,332	$	7,267	$	21,534