Exhibit 99.6
GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus
(Amounts in millions, except share amounts)
(Unaudited)
| | | | |
| | As of March 31, 2006 | |
Admitted Assets | | | | |
Investments: | | | | |
Bonds | | $ | 5,208.0 | |
Preferred stocks | | | 2.1 | |
Mortgage loans | | | 1,072.1 | |
Real estate | | | 3.4 | |
Policy loans | | | 161.5 | |
Cash and short-term investments | | | 404.4 | |
Other invested assets | | | 66.5 | |
Receivable for securities | | | 5.2 | |
| | | | |
Total cash and invested assets | | | 6,923.2 | |
Reinsurance ceded | | | 17.4 | |
Deferred income taxes | | | 39.1 | |
Guaranty association assessments | | | 4.3 | |
Premiums and accounts receivable | | | 10.5 | |
Investment income due and accrued | | | 66.5 | |
Receivable from parent, subsidiaries, and affiliates | | | 40.9 | |
Receivable for unredeemed mortality and expense fees | | | 3.4 | |
Separate account assets | | | 9,710.2 | |
Other assets | | | 2.3 | |
| | | | |
Total admitted assets | | $ | 16,817.8 | |
| | | | |
Liabilities and Capital and Surplus | | | | |
Liabilities: | | | | |
Aggregate reserves - life and annuity contracts | | $ | 5,182.2 | |
Aggregate reserves - accident and health policies | | | 19.0 | |
Liability for deposit-type contracts | | | 250.3 | |
Liability for policy and contract claims | | | 63.2 | |
Premiums and annuity considerations received in advance | | | 0.4 | |
Interest maintenance reserve | | | 68.4 | |
Commissions payable | | | 0.4 | |
General expenses due and accrued | | | 18.7 | |
Transfers from separate accounts due and accrued | | | (125.4 | ) |
Taxes, licenses and fees due and accrued | | | 1.8 | |
Amount withheld or retained by company as agent or trustee | | | 6.0 | |
Remittances and items not allocated | | | 15.5 | |
Asset valuation reserve | | | 63.1 | |
Payable to parent, subsidiary and affiliates | | | 8.8 | |
Funds held under coinsurance | | | 901.0 | |
Payable for securities | | | 97.2 | |
Other liabilities | | | 52.1 | |
Separate account liabilities | | | 9,688.7 | |
| | | | |
Total liabilities | | | 16,311.4 | |
| | | | |
Capital and surplus: | | | | |
Common stock, Class A ($1,000 par value. Authorized 50,000 shares; issued and outstanding 25,651 shares) | | | 25.7 | |
Preferred stock ($1,000 par value, $1,000 redemption and liquidation value. Authorized 200,000 shares; issued and outstanding 120,000 shares) | | | 120.0 | |
Paid-in surplus | | | 189.5 | |
Unassigned surplus | | | 171.2 | |
| | | | |
Total capital and surplus | | | 506.4 | |
| | | | |
Total liabilities and capital and surplus | | $ | 16,817.8 | |
| | | | |
These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of Genworth Life and Annuity Insurance Company as of and for the years ended December 31, 2005 and 2004.
GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
Statutory Statements of Summary of Operations
(Amounts in millions)
(Unaudited)
| | | | | | | | |
| | Three months ended March 31, | |
| | 2006 | | | 2005 | |
Revenues: | | | | | | | | |
Premiums and annuity considerations | | $ | 481.5 | | | $ | 317.3 | |
Considerations for supplementary contracts with life contingencies | | | 1.2 | | | | 1.1 | |
Investment income | | | 88.3 | | | | 101.2 | |
Amortization of interest maintenance reserve | | | 5.2 | | | | 6.8 | |
Separate accounts net gain from operations | | | 0.2 | | | | (2.3 | ) |
Commission and expense allowances on reinsurance ceded | | | 20.3 | | | | 16.5 | |
Income from fees associated with investment management, administration, and contract guarantees from separate accounts | | | 7.3 | | | | 7.8 | |
Other | | | (0.3 | ) | | | (0.2 | ) |
| | | | | | | | |
Total revenues | | | 603.7 | | | | 448.2 | |
| | | | | | | | |
Benefits: | | | | | | | | |
Death benefits | | | 35.9 | | | | 40.7 | |
Annuity benefits | | | 15.8 | | | | 11.4 | |
Disability benefits and benefits under accident and health policies | | | 16.9 | | | | 15.2 | |
Surrender benefits and other fund withdrawals | | | 301.4 | | | | 402.5 | |
Interest and adjustments on policy or deposit-type contract funds | | | 2.1 | | | | 1.3 | |
Payments on supplementary contracts with life contingencies | | | 1.0 | | | | 1.0 | |
Decrease in aggregate reserves - life and accident and health | | | (200.2 | ) | | | (283.7 | ) |
| | | | | | | | |
Total benefits | | | 172.9 | | | | 188.4 | |
| | | | | | | | |
Expenses: | | | | | | | | |
Commissions | | | 31.5 | | | | 27.3 | |
General insurance expenses | | | 26.4 | | | | 14.6 | |
Insurance taxes, licenses and fees | | | 2.4 | | | | 2.2 | |
Net transfer to separate accounts | | | 345.4 | | | | 183.0 | |
Other expenses | | | (0.4 | ) | | | (0.3 | ) |
| | | | | | | | |
Total expenses | | | 405.3 | | | | 226.8 | |
| | | | | | | | |
Total benefits and expenses | | | 578.2 | | | | 415.2 | |
| | | | | | | | |
Income before federal income taxes and realized capital gains (losses) | | | 25.5 | | | | 33.0 | |
Federal income tax provision (benefit) | | | (2.1 | ) | | | 6.2 | |
| | | | | | | | |
Income before realized capital gains (losses) | | | 27.6 | | | | 26.8 | |
Realized capital gains (losses), net | | | 3.1 | | | | (0.4 | ) |
| | | | | | | | |
Net income | | $ | 30.7 | | | $ | 26.4 | |
| | | | | | | | |
These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of Genworth Life and Annuity Insurance Company as of and for the years ended December 31, 2005 and 2004.
GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
Statutory Statements of Changes in Capital and Surplus
(Amounts in millions)
(Unaudited)
| | | | | | | | | | | | | | | | | |
| | Common stock | | Preferred stock | | Paid-in surplus | | Unassigned surplus | | | Total | |
Balances as of December 31, 2004 | | $ | 25.7 | | $ | 120.0 | | $ | 189.5 | | $ | 482.3 | | | $ | 817.5 | |
Net income | | | — | | | — | | | — | | | 26.4 | | | | 26.4 | |
Change in net unrealized capital gains (losses) | | | — | | | — | | | — | | | 1.1 | | | | 1.1 | |
Change in net deferred income tax | | | — | | | — | | | — | | | (4.1 | ) | | | (4.1 | ) |
Change in nonadmitted assets | | | — | | | — | | | — | | | 3.7 | | | | 3.7 | |
Change in asset valuation reserve | | | — | | | — | | | — | | | 5.0 | | | | 5.0 | |
Change in surplus as a result of reinsurance | | | — | | | — | | | — | | | (8.8 | ) | | | (8.8 | ) |
| | | | | | | | | | | | | | | | | |
Balances as of March 31, 2005 | | $ | 25.7 | | $ | 120.0 | | $ | 189.5 | | $ | 505.6 | | | $ | 840.8 | |
| | | | | | | | | | | | | | | | | |
| | | | | |
| | Common stock | | Preferred stock | | Paid-in surplus | | Unassigned surplus | | | Total | |
Balances as of December 31, 2005 | | $ | 25.7 | | $ | 120.0 | | $ | 189.5 | | $ | 140.8 | | | $ | 476.0 | |
Net income | | | — | | | — | | | — | | | 30.7 | | | | 30.7 | |
Change in net unrealized capital gains (losses) | | | — | | | — | | | — | | | 2.5 | | | | 2.5 | |
Change in net deferred income tax | | | — | | | — | | | — | | | (12.7 | ) | | | (12.7 | ) |
Change in nonadmitted assets | | | — | | | — | | | — | | | 18.1 | | | | 18.1 | |
Change in surplus in separate account statement | | | — | | | — | | | — | | | 2.0 | | | | 2.0 | |
Change in asset valuation reserve | | | — | | | — | | | — | | | 2.2 | | | | 2.2 | |
Change in surplus as a result of reinsurance | | | — | | | — | | | — | | | (12.4 | ) | | | (12.4 | ) |
| | | | | | | | | | | | | | | | | |
Balances as of March 31, 2006 | | $ | 25.7 | | $ | 120.0 | | $ | 189.5 | | $ | 171.2 | | | $ | 506.4 | |
| | | | | | | | | | | | | | | | | |
These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of Genworth Life and Annuity Insurance Company as of and for the years ended December 31, 2005 and 2004.
GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
Statutory Statements of Cash Flows
(Dollar amounts in millions)
(Unaudited)
| | | | | | | | |
| | Three months ended March 31, | |
| | 2006 | | | 2005 | |
Cash from operations: | | | | | | | | |
Premiums collected net of reinsurance | | $ | 481.6 | | | $ | 318.2 | |
Net investment income | | | 83.9 | | | | 100.5 | |
Miscellaneous income | | | 13.8 | | | | 15.3 | |
| | | | | | | | |
Total | | | 579.3 | | | | 434.0 | |
| | | | | | | | |
Benefit and loss related payments | | | 369.9 | | | | 462.2 | |
Net transfers to separate, segregated accounts, and protected cell accounts | | | 365.5 | | | | 198.8 | |
Commissions, expenses paid, and aggregate write-ins for deductions | | | 63.2 | | | | 39.6 | |
Federal and foreign income taxes paid, net tax on capital gains | | | 5.2 | | | | — | |
| | | | | | | | |
Total | | | 803.8 | | | | 700.6 | |
| | | | | | | | |
Net cash applied to operations | | | (224.5 | ) | | | (266.6 | ) |
| | | | | | | | |
Cash from investments: | | | | | | | | |
Proceeds from investments sold, matured, or repaid: | | | | | | | | |
Bonds | | | 446.4 | | | | 643.7 | |
Stocks | | | 1.5 | | | | — | |
Mortgage loans | | | 24.3 | | | | 32.0 | |
Other invested assets | | | 0.5 | | | | 3.3 | |
Miscellaneous proceeds | | | 96.0 | | | | — | |
| | | | | | | | |
Total investment proceeds | | | 568.7 | | | | 679.0 | |
| | | | | | | | |
Cost of investments acquired (long-term only): | | | | | | | | |
Bonds | | | 731.1 | | | | 126.6 | |
Mortgage loans | | | 95.2 | | | | 9.0 | |
Miscellaneous applications | | | 0.4 | | | | 275.0 | |
| | | | | | | | |
Total investment acquired | | | 826.7 | | | | 410.6 | |
Net change in policy loans and premium notes | | | 3.2 | | | | 1.6 | |
| | | | | | | | |
Net cash provided by (applied to) investments | | | (261.2 | ) | | | 266.8 | |
| | | | | | | | |
Cash from financing and miscellaneous sources: | | | | | | | | |
Cash provided (applied): | | | | | | | | |
Borrowed funds | | | — | | | | (10.7 | ) |
Net deposits on deposit-type contracts and other insurance liabilities | | | 694.9 | | | | (3.2 | ) |
Other cash applied | | | (105.9 | ) | | | 41.2 | |
| | | | | | | | |
Net cash provided by financing and miscellaneous sources | | | 589.0 | | | | 27.3 | |
| | | | | | | | |
Reconciliation of cash and short-term investments: | | | | | | | | |
Net change in cash and short-term investments | | | 103.3 | | | | 27.5 | |
Cash and short-term investments at beginning of period | | | 301.1 | | | | 35.0 | |
| | | | | | | | |
Cash and short-term investments at end of period | | $ | 404.4 | | | $ | 62.5 | |
| | | | | | | | |
These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of Genworth Life and Annuity Insurance Company as of and for the years ended December 31, 2005 and 2004.