Prudential Annuities Life Assurance Dashboard

Prudential Annuities Life Assurance Corporation (the “Company”, “PALAC”, “we”, or “our”), with its principal offices in Shelton, Connecticut, is a wholly-owned subsidiary of Prudential Annuities Inc. (“PAI”), which in turn is an indirect wholly-owned subsidiary of Prudential Financial Inc. (“Prudential Financial”), a New Jersey corporation. The Company has developed long-term savings and retirement products, which are distributed through its affiliated broker-dealer company, Prudential Annuities Distributors Inc. (“PAD”). The Company issues variable and fixed deferred and immediate annuities for individuals and groups in the United States of America and Puerto Rico. In addition, the Company has a relatively small in force block of variable life insurance policies. The Company stopped actively selling annuity products between March 2010 and December 2017. The Company resumed offering annuity products to new investors (except in New York) when it launched a new fixed index annuity and a new deferred income annuity in 2018.

Company profile

Incorporated

Connecticut

Location

Connecticut

Fiscal year end

Dec 31

Industry (SIC)

Insurance Carriers, NEC

Assurant • Hallmark Financial Services • MediaAlpha • Amerinst Insurance • Provida Pension Fund Administrator • International General Insurance • Brookfield Asset Management Reinsurance Partners ...

Former names

AMERICAN SKANDIA LIFE ASSURANCE CORP/CT

SEC CIK

0000881453

Corporate docs

Articles of Incorporation & Bylaws

Financial summary

Financial statements Chart financial data

Quarter (USD)	Dec 20	Sep 20	Jun 20	Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 20	Dec 19	Dec 18	Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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
Cash on hand (at last report)	1.07B	1.07B	1.07B	1.07B	1.07B	1.07B
Cash burn (monthly)	1.48B	143.83M	103.61M	336.25M	2.05B	(positive/no burn)
Cash used (since last report)	5.07B	493.87M	355.78M	1.15B	7.05B	n/a
Cash remaining	-4B	575.34M	713.43M	-85.38M	-5.98B	n/a
Runway (months of cash)	-2.7	4.0	6.9	-0.3	-2.9	n/a

Beta Read what these cash burn values mean

Financial report summary

Management Discussion

Losses from operations before income taxes increased $2,755 million from a loss of $1,280 million in 2019 to a loss of $4,035 million in 2020. Excluding the impact of our annual reviews and update of assumptions and other refinements, losses from operations increased $2,852 million primarily driven by:
•Unfavorable impact related to the portions of our U.S. GAAP liability before NPR, that are excluded from our hedge target driven by declining interest rates, partially offset by favorable equity markets. This decrease was partially offset by a favorable NPR adjustment in the current year. Prior year period reflected an increase in these reserves primarily driven by declining interest rates, credit spreads tightening and unfavorable NPR adjustment.
(1)Positive amount represents income; negative amount represents a loss.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Bad

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Removed: accreted, callable, companion, comparing, compelling, constructing, deteriorated, expanding, factor, field, finance, foreclosure, formed, good, launch, loanable, loaning, locked, merged, persuading, portray, predefined, recover, reforming, simplify, standing, stopped, thirty, tracked, tranche, undertaken, watch

From filing 10-K 2020 FY