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
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AMERICAN SKANDIA LIFE ASSURANCE CORP/CT, PRUDENTIAL ANNUITIES LIFE ASSURANCE CORP/CT
SEC CIK
Latest filings (excl ownership)
10-Q
2023 Q1
Quarterly report
12 May 23
10-K
2022 FY
Annual report
22 Mar 23
10-Q
2022 Q3
Quarterly report
10 Nov 22
8-K
Departure of Directors or Certain Officers
6 Oct 22
10-Q
2022 Q2
Quarterly report
12 Aug 22
10-Q
2022 Q1
Quarterly report
12 May 22
EFFECT
Notice of effectiveness
2 May 22
EFFECT
Notice of effectiveness
2 May 22
424B3
Prospectus supplement
22 Apr 22
424B3
Prospectus supplement
22 Apr 22
Latest ownership filings
No filings
Financial summary
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Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Diluted EPS |
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 |
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Cash on hand (at last report) | 845.00 mm | 845.00 mm | 845.00 mm | 845.00 mm | 845.00 mm | 845.00 mm |
Cash burn (monthly) | 9.00 mm | 61.08 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 18.59 mm | 126.19 mm | n/a | n/a | n/a | n/a |
Cash remaining | 826.41 mm | 718.81 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | 91.8 | 11.8 | n/a | n/a | n/a | n/a |