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Prudential Annuities Life Assurance

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

Calendar

12 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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) 1.81B 1.81B 1.81B 1.81B 1.81B 1.81B
Cash burn (monthly) (positive/no burn) 1.01B (positive/no burn) 49.41M 1.21B 1.32B
Cash used (since last report) n/a 4.14B n/a 202.44M 4.96B 5.41B
Cash remaining n/a -2.33B n/a 1.61B -3.15B -3.6B
Runway (months of cash) n/a -2.3 n/a 32.5 -2.6 -2.7

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • •Favorable impact related to the portions of our U.S. GAAP liability before non-performance risk ("NPR"), that are excluded from our hedge target driven by rising interest rates and favorable equity market performance. Prior year period reflected an increase in these reserves primarily driven by widening credit spreads, declining interest rates and unfavorable equity market performance, partially offset by an unfavorable NPR adjustment.
  • (1)Positive amount represents income; negative amount represents a loss.
  • (2)Represents the change in the liability (excluding NPR) for our variable annuities which is measured utilizing a valuation methodology that is required under U.S. GAAP. This liability includes such items as risk margins which are required by U.S. GAAP but not included in our best estimate of the liability.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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Proxies

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