VOYA RETIREMENT INSURANCE & ANNUITY CO – 10-Q – Administration's Narrative Evaluation of the Outcomes of Operations and Monetary Situation (Greenback quantities in hundreds of thousands, except in any other case said) – Insurance coverage Information Internet

August 17, 2022 By admin

Annual Report on Type 10-Ok for the yr ended December 31, 2021 (“Annual
Report on Type 10-Ok”).
Crucial Accounting Judgments and Estimates
The above vital accounting estimates are described within the Enterprise, Foundation of
Presentation and Important Accounting Insurance policies Notice in our Consolidated
Monetary Statements in Half II, Merchandise 8. of our Annual Report on Type 10-Ok .
Assumptions and Periodic Assessment
Earnings Taxes
Impact on VRIAC – Monetary Situation, Capital and Liquidity
Impact on VRIAC – Outcomes of Operations
Predicting with accuracy the results of COVID-19 on our outcomes of
operations is not possible. So far, probably the most vital results of hostile
financial circumstances have been on our fee-based earnings, with web funding
earnings experiencing milder results. Underwriting earnings, principally affected by
will increase to mortality and morbidity as a result of illness, has additionally been
negatively affected.
Three Months Ended June 30, 2022 in comparison with Three Months Ended June 30, 2021
Revenues
Internet funding earnings decreased by $62 million from $482 million to $420 million
primarily on account of:
•decrease different funding and prepayment charge earnings within the present interval
primarily pushed by the influence of fairness market efficiency.
Payment earnings decreased by $25 million from $271 million to $246 million primarily
on account of:
•a lower in separate account and institutional/mutual fund belongings underneath
administration pushed by fairness market efficiency.
Complete web good points (losses) elevated by $101 million from a lack of $35 million to
a lack of $136 million primarily on account of:
Curiosity credited and different advantages to contract homeowners/policyholders elevated
by $20 million from $176 million to $196 million primarily on account of:
•a rise in treasury charges which has led to larger credited charges.
Internet amortization of DAC and VOBA elevated by $8 million from $29 million to $37
million primarily on account of:
•unfavorable unlocking within the present interval in comparison with favorable unlocking in
the prior interval on account of separate account efficiency.
The rise was partially offset by:
Earnings tax expense (profit) modified by $44 million from an expense of $36
million to a advantage of $8 million primarily on account of:
•a lower in earnings earlier than earnings taxes.
Six Months Ended June 30, 2022 in comparison with Six Months Ended June 30, 2021
Revenues
Internet funding earnings decreased by $102 million from $971 million to $869
million primarily on account of:
•decrease different funding and prepayment charge earnings within the present interval
primarily pushed by the influence of fairness market efficiency.
Premiums elevated by $2,452 million from $(2,441) million to $11 million
primarily on account of:
•the shut of the Particular person Life Transaction within the prior interval, at which
level the Pension Threat Switch (PRT) and annuity enterprise was ceded to
Decision.
Complete web good points (losses) modified by $723 million from a achieve of $405 million to
a lack of $318 million primarily on account of:
The rise was partially offset by:
•favorable modifications in derivatives – VIM (together with embedded derivatives) on account of
rate of interest modifications.
Curiosity credited and different advantages to contract homeowners/policyholders elevated
by $2,273 million from $(1,880) million to $393 million primarily on account of:
•the ceding of the PRT and annuity enterprise to Decision as a part of the Life
Transaction within the prior interval.
The rise was partially offset by:
Earnings tax expense (profit) modified by $138 million from an expense of $123
million to a advantage of $15 million primarily on account of:
•a lower in earnings earlier than earnings taxes.
See Administration’s Narrative Evaluation of the Outcomes of Operations and Monetary
Situation in Half II, Merchandise. 7. of our Annual Report on Type 10-Ok for
info on our funding technique.
The next tables current complete fastened maturities, together with securities
pledged, by market sector as of the dates indicated:
(1) Primarily U.S. greenback denominated.
——————————————————————————–
(1) Primarily U.S. greenback denominated.
As of June 30, 2022, the typical period of our fastened maturities portfolio,
together with securities pledged, is between 7.0 and seven.5 years.
Mounted Maturities Credit score High quality – Scores
For info relating to our fastened maturities credit score high quality scores, see the
Administration’s Narrative Evaluation of the Outcomes of Operations and Monetary
Situation in Half II, Merchandise. 7. of our Annual Report on Type 10-Ok .
——————————————————————————–
Desk of Contents
The next tables current credit score high quality of fastened maturities, together with
securities pledged, utilizing NAIC designations as of the dates indicated:
(1) Primarily U.S. greenback denominated.
——————————————————————————–
(1) Primarily U.S. greenback denominated.
(1) Primarily U.S. greenback denominated.
Unrealized Capital Losses
As of June 30, 2022 and December 31, 2021, we held no fastened maturity securities
with unrealized capital losses in extra of $10 million.
Residential Mortgage-backed Securities
The next tables current our residential mortgage-backed securities as of
June 30, 2022 and December 31, 2021:
(1) Consists of subprime different asset backed securities.
(1) Consists of subprime different asset backed securities.
The next tables current our business mortgage-backed securities as of
June 30, 2022 and December 31, 2021:
($ in hundreds of thousands) Amortized Value Truthful Worth Amortized Value Truthful Worth Amortized Value Truthful Worth Amortized Value Truthful Worth Amortized Value Truthful Worth Amortized Value Truthful Worth
2015 and prior $ 585 $ 649 $
As of June 30, 2022, 83.8% and 13.9% of CMBS investments had been designated as
NAIC-1 and NAIC-2, respectively. As of December 31, 2021, 86.4% and 11.5% of
CMBS investments had been designated as NAIC-1 and NAIC-2, respectively.
217 $ 15 $ 12 $ 1,345 $ 1,256
(1) Excludes subprime different asset backed securities
217 $ 19 $ 17 $ 1,325 $ 1,333
(1) Excludes subprime different asset backed securities
Mortgage Loans on Actual Property
Impairments
Liquidity and Capital Sources
Administration believes that our sources of liquidity are sufficient to fulfill our
short-term money obligations.
Capital Contributions and Dividends
Scores
Off-Stability Sheet Preparations
For modifications in commitments associated to the acquisition of mortgage loans and the
buy of restricted partnerships and personal placement investments, see the
Commitments and Contingencies Notice in our Condensed Consolidated Monetary
Statements in Half I, Merchandise 1. of this Quarterly Report on Type 10-Q.
Ohio Nationwide scores affirmed by Fitch
PROGRESSIVE CARE INC. – 10-Q – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS
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