Pruco Life Insurance Company (the “Company”, “Pruco Life”, “we”, or “our”) is a wholly-owned subsidiary of The Prudential Insurance Company of America, (“Prudential Insurance”), which in turn is a direct wholly-owned subsidiary of Prudential Financial Inc. (“Prudential Financial”). See Note 1 to the Consolidated Financial Statements for additional information. Pruco Life has one wholly-owned insurance subsidiary, Pruco Life Insurance Company of New Jersey (“PLNJ”). Pruco Life and its subsidiary are together referred to as the "Company", "we" or "our" and all financial information is shown on a consolidated basis.
Company profile
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Calendar
11 Aug 22
12 Aug 22
31 Dec 22
Financial summary
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| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 1.79B | 1.79B | 1.79B | 1.79B | 1.79B | 1.79B |
| Cash burn (monthly) | 14.11M | (no burn) | (no burn) | 210.98M | (no burn) | (no burn) |
| Cash used (since last report) | 20.17M | n/a | n/a | 301.76M | n/a | n/a |
| Cash remaining | 1.77B | n/a | n/a | 1.49B | n/a | n/a |
| Runway (months of cash) | 125.5 | n/a | n/a | 7.1 | n/a | n/a |
Financial report summary
?Management Discussion
- Income (loss) from operations before income taxes increased $532 million from a loss of $26 million for the three months ended June 30, 2021 to income of $506 million for the three months ended June 30, 2022. This includes a favorable comparative net gain of $342 million from our annual reviews and update of assumptions and other refinements driven by an NPR assumption update. Excluding the comparative impact of our annual reviews and update of assumptions and other refinements, income (loss) from operations increased $189 million primarily driven by:
- Income (loss) from operations before income taxes increased $444 million from income of $32 million for the six months ended June 30, 2021 to a gain of $476 million for the six months ended June 30, 2022. This includes a favorable comparative net gain of $342 million from our annual reviews and update of assumptions and other refinements as noted above. Excluding the comparative impact of our annual reviews and update of assumptions and other refinements, income (loss) from operations increased $102 million primarily driven by:
- •Fees paid to Prudential Insurance for the recapture of the yearly renewable term ("YRT") reinsurance for most of the Company's variable life insurance policies and by ceding a portion of the variable life business to Lotus Re.
Content analysis
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New words:
broader, evidence, FLIAC, Fortitude, impaired, impairment, longer, nonrecurring, novate, novated, opportunity, Overnight, renamed, SOFR, withheld
Financial reports
Current reports
8-K
Other Events
19 Sep 13
8-K
Other Events
1 Jul 13
8-K
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3 Jun 13
8-K
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1 Jan 13
8-K
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26 Sep 12
8-K
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
5 Jul 12
8-K
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16 Apr 09
8-K
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
6 Feb 06
8-K
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
13 Dec 04
8-K
Regulation FD Disclosure
14 May 03
Registration and prospectus
S-3/A
Shelf registration (amended)
11 Aug 22
D/A
Indefinite amount in other securities
29 Jun 22
424B3
Prospectus supplement
7 Jun 22
S-3
Shelf registration
2 Jun 22
424B3
Prospectus supplement
1 Jun 22
424B3
Prospectus supplement
27 Apr 22
POS AM
Prospectus update (post-effective amendment)
20 Apr 22
Proxies
No filings
Other
EFFECT
Notice of effectiveness
2 May 22
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2 May 22
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15 Dec 21
EFFECT
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9 Sep 21
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Notice of effectiveness
9 Sep 21
EFFECT
Notice of effectiveness
23 Dec 20
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Notice of effectiveness
23 Dec 20
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Notice of effectiveness
23 Dec 20
CORRESP
Correspondence with SEC
10 Dec 20
EFFECT
Notice of effectiveness
2 Oct 17