Riversource Life Insurance
RiverSource Life Insurance Company is a stock life insurance company with one wholly owned stock life insurance company subsidiary, RiverSource Life Insurance Co. of New York (“RiverSource Life of NY”). RiverSource Life Insurance Company is a wholly owned subsidiary of Ameriprise Financial, Inc. (“Ameriprise Financial”).
Company profile
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
IDS LIFE FLEXIBLE PAYMENT MARKET VALUE ANNUITY, IDS LIFE INSURANCE CO, IDS LIFE INSURANCE CO /MN
SEC CIK
Corporate docs
Calendar
24 Feb 21
21 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 3.29B | 3.29B | 3.29B | 3.29B | 3.29B | 3.29B |
Cash burn (monthly) | 91.67M | (positive/no burn) | 74.67M | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 339.26M | n/a | 276.34M | n/a | n/a | n/a |
Cash remaining | 2.95B | n/a | 3.01B | n/a | n/a | n/a |
Runway (months of cash) | 32.1 | n/a | 40.3 | n/a | n/a | n/a |
Financial report summary
?Risks
- The COVID-19 pandemic creates significant risks and uncertainties for RiverSource Life’s business.
- RiverSource Life’s financial condition and results of operations may be adversely affected by market fluctuations and by economic, political and other factors.
- Changes in interest rates and prolonged periods of low interest rates and even negative interest rates may adversely affect RiverSource Life’s financial condition and results of operations.
- Adverse capital and credit market conditions or a downgrade in our credit ratings may significantly affect RiverSource Life’s ability to meet liquidity needs, access to capital and cost of capital.
- Intense competition and the economics of changes in RiverSource Life’s product revenue mix and distribution channels could negatively impact RiverSource Life’s ability to maintain or increase its market share and profitability.
- RiverSource Life and its affiliates face intense competition in attracting and retaining key talent.
- The impairment, negative performance or default by other financial institutions or other third parties could adversely affect RiverSource Life.
- Poor investment performance in RiverSource Life’s variable products could adversely affect its financial condition and results of operations.
- AFS may be unable to attract and retain financial advisors.
- RiverSource Life’s valuation of fixed maturity and equity securities may include methodologies, estimations and assumptions which are subject to differing interpretations and could result in changes to investment valuations that may materially adversely impact its financial condition or results of operations.
- The elimination of LIBOR may adversely affect the interest rates on, and value of, certain derivatives and floating rate securities RiverSource Life holds, the activities RiverSource Life conducts, and any other assets or liabilities, the value of which is tied to LIBOR.
- The determination of the amount of allowances taken on certain investments is subject to management’s evaluation and judgment and could materially impact RiverSource Life’s financial position or results of operations.
- Some of RiverSource Life’s investments are relatively illiquid.
- The failure of other insurers could require RiverSource Life to pay higher assessments to state insurance guaranty funds.
- If the counterparties to RiverSource Life’s reinsurance arrangements default or otherwise fail to fulfill their obligations, RiverSource Life may be exposed to risks it had sought to mitigate, which could adversely affect its financial condition and results of operations.
- If RiverSource Life’s reserves for future policy benefits and claims are inadequate, it may be required to increase its reserve liabilities, which would adversely affect its financial condition and results of operations.
- RiverSource Life’s profitability relies on its assumptions including those regarding morbidity rates, mortality rates and benefit utilization, as well as the future persistency of insurance policies ans annuity contracts.
- Damage to the reputation of RiverSource Life or its affiliates could adversely affect the business of RiverSource Life.
- RiverSource Life’s operational systems and networks (as well as those of its affiliates’ franchisee advisors) are subject to evolving cybersecurity or other technological risks, which could result in the disclosure of confidential information, loss of proprietary information, damage to its reputation, additional costs, regulatory penalties and other adverse impacts.
- Protection from system interruptions and operating errors is important to RiverSource Life’s business. If RiverSource Life experienced a sustained interruption to its telecommunications or data processing systems or other failure in operational execution, it could harm its business.
- RiverSource Life’s risk management policies and procedures may not be fully effective in identifying or mitigating its risk exposure in all market environments, new products or against all types of risk, including employee and financial advisor misconduct.
- The occurrence of natural or man-made disasters and catastrophes could adversely affect the financial condition and results of operations of RiverSource Life.
- Legal and regulatory actions are inherent in RiverSource Life’s business and could result in financial losses or harm its business.
- RiverSource Life’s business is regulated heavily, and changes to the laws and regulations may have an adverse effect on RiverSource Life’s operations, reputation and financial condition.
- Changes in corporate tax laws and regulations and changes in the interpretation of such laws and regulations, as well as adverse determinations regarding the application of such laws and regulations, could adversely affect RiverSource Life’s earnings and could make certain products less attractive to clients.
- RiverSource Life may not be able to protect its intellectual property and may be subject to infringement claims.
- Changes in and the adoption of accounting standards could have a material impact on RiverSource Life’s financial statements
Content analysis
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
24 Feb 21
10-Q
2020 Q3
Quarterly report
8 Nov 20
10-Q
2020 Q2
Quarterly report
10 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-K
2019 FY
Annual report
26 Feb 20
10-Q
2019 Q3
Quarterly report
12 Nov 19
10-Q
2019 Q2
Quarterly report
5 Aug 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
26 Feb 19
10-Q
2018 Q3
Quarterly report
5 Nov 18
Current reports
8-K/A
Changes in Registrant's Certifying Accountant
28 Feb 11
8-K/A
Changes in Registrant's Certifying Accountant
15 Jun 10
8-K
Changes in Registrant's Certifying Accountant
9 Jun 10
8-K
Other Events
15 May 07
8-K
Entry into a Material Definitive Agreement
4 Jan 07
8-K
Agreement and Plan of Merger
21 Mar 06
8-K
Ameriprise Financial Lists on New York Stock Exchange
2 Oct 05
8-K
Departure of Directors or Principal Officers
11 Sep 05
8-K
Departure of Directors or Principal Officers
22 May 05
8-K
Changes in Registrant.s Certifying Accountant
23 Feb 05
Registration and prospectus
S-3
Shelf registration
15 Mar 21
424B3
Prospectus supplement
27 Jul 20
424B3
Prospectus supplement
22 Jun 20
S-3
Shelf registration
12 Jun 20
S-3/A
Shelf registration (amended)
12 Jun 20
424B3
Prospectus supplement
31 May 20
S-3
Shelf registration
18 May 20
424B3
Prospectus supplement
30 Apr 20
424B3
Prospectus supplement
30 Apr 20
424B3
Prospectus supplement
30 Apr 20
Proxies
No filings
Other
EFFECT
Notice of effectiveness
23 Jun 20
EFFECT
Notice of effectiveness
23 Jun 20
EFFECT
Notice of effectiveness
31 Dec 19
EFFECT
Notice of effectiveness
30 Apr 19
EFFECT
Notice of effectiveness
30 Apr 19
EFFECT
Notice of effectiveness
1 May 18
EFFECT
Notice of effectiveness
1 May 18
EFFECT
Notice of effectiveness
30 Apr 17
EFFECT
Notice of effectiveness
30 Apr 17
EFFECT
Notice of effectiveness
28 Apr 16
Ownership
13F-NT
Notice of holdings reported by another manager
12 Feb 21
13F-NT
Notice of holdings reported by another manager
16 Nov 20
13F-NT
Notice of holdings reported by another manager
14 Aug 20
13F-NT
Notice of holdings reported by another manager
15 May 20
13F-NT
Notice of holdings reported by another manager
14 Feb 20
13F-NT
Notice of holdings reported by another manager
14 Nov 19
13F-NT
Notice of holdings reported by another manager
13 Aug 19
13F-NT
Notice of holdings reported by another manager
15 May 19
13F-NT
Notice of holdings reported by another manager
14 Feb 19
13F-NT
Notice of holdings reported by another manager
14 Nov 18