Exhibit 99.4
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(in thousands)
COL. A |
| COL. B |
| COL. C |
| COL. D |
| COL. E |
| COL. F |
| COL. G |
| COL. H |
| COL. I |
| COL. J |
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Segment |
| Deferred |
| Future Policy |
| Unearned Premiums |
| Stable Value Products, |
| Net |
| Net |
| Benefits and Settlement Expenses |
| Amortization |
| Other Operating Expenses(1) |
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Year Ended |
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December 31, 2003: |
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Life Marketing |
| $ | 1,185,102 |
| $ | 4,846,032 |
| $ | 1,854 |
| $ | 62,641 |
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Acquisitions |
| 385,042 |
| 3,185,708 |
| 354 |
| 917,402 |
| $ | 198,653 |
| $ | 229,913 |
| $ | 253,785 |
| $ | 66,078 |
| $ | (50,379 | ) | ||||
Annuities |
| 101,096 |
| 593,119 |
| 5,329 |
| 2,618,571 |
| 213,912 |
| 246,143 |
| 291,768 |
| 32,690 |
| 41,537 |
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Stable Value Products |
| 7,186 |
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| 4,520,956 |
| 26,265 |
| 224,330 |
| 197,955 |
| 38,196 |
| 23,969 |
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Asset Protection |
| 175,264 |
| 189,028 |
| 691,254 |
| 5,739 |
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| 233,104 |
| 186,565 |
| 2,279 |
| 5,349 |
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Corporate and Other |
| 9,878 |
| 89,043 |
| 44,860 |
| 189,969 |
| 244,566 |
| 36,423 |
| 142,169 |
| 80,320 |
| 80,544 |
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Adjustments(2) |
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| 47,161 |
| 76 |
| 189 |
| 52,278 |
| 10,830 |
| 51,835 |
| 5,544 |
| 38,079 |
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TOTAL |
| $ | 1,863,568 |
| $ | 8,950,091 |
| $ | 743,727 |
| $ | 8,315,467 |
| $ | 735,674 |
| $ | 980,743 |
| $ | 1,124,077 |
| $ | 225,107 |
| $ | 139,099 |
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Year Ended |
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December 31, 2002: |
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Life Marketing |
| $ | 973,631 |
| $ | 4,031,021 |
| $ | 318 |
| $ | 48,558 |
| $ | 220,184 |
| $ | 208,451 |
| $ | 228,225 |
| $ | 117,836 |
| $ | (41,501 | ) |
Acquisitions |
| 435,592 |
| 3,240,407 |
| 395 |
| 1,040,855 |
| 224,485 |
| 252,147 |
| 301,400 |
| 35,245 |
| 45,395 |
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Annuities |
| 93,140 |
| 571,109 |
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|
| 2,742,642 |
| 25,826 |
| 220,433 |
| 186,107 |
| 24,669 |
| 26,037 |
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Stable Value Products |
| 4,908 |
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| 3,930,668 |
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| 246,098 |
| 196,576 |
| 2,304 |
| 4,946 |
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Asset Protection |
| 191,840 |
| 243,809 |
| 812,919 |
| 8,714 |
| 285,851 |
| 41,372 |
| 204,069 |
| 75,108 |
| 88,275 |
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Corporate and Other |
| 10,143 |
| 97,175 |
| 29,248 |
| 115,708 |
| 53,697 |
| 3,307 |
| 50,708 |
| 12,500 |
| 31,418 |
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Adjustments(2) |
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| 63,775 |
| 286 |
| 3,567 |
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TOTAL |
| $ | 1,709,254 |
| $ | 8,247,296 |
| $ | 843,166 |
| $ | 7,890,712 |
| $ | 810,043 |
| $ | 971,808 |
| $ | 1,167,085 |
| $ | 267,662 |
| $ | 154,570 |
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Year Ended |
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December 31, 2001: |
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Life Marketing |
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| $ | 120,996 |
| $ | 178,866 |
| $ | 190,538 |
| $ | 41,399 |
| $ | (22,957 | ) | ||||
Acquisitions |
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| 182,432 |
| 187,535 |
| 238,877 |
| 20,500 |
| 41,684 |
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Annuities |
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| 28,145 |
| 167,809 |
| 137,204 |
| 24,021 |
| 24,073 |
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Stable Value Products |
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| 261,079 |
| 222,306 |
| 1,662 |
| 3,961 |
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Asset Protection |
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| 236,266 |
| 46,963 |
| 141,789 |
| 53,749 |
| 78,311 |
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Corporate and Other |
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| 50,829 |
| (7,049 | ) | 41,910 |
| 5,727 |
| 26,969 |
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TOTAL |
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| $ | 618,668 |
| $ | 835,203 |
| $ | 972,624 |
| $ | 147,058 |
| $ | 152,041 |
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(1) Allocations of Net Investment Income and Other Operating Expenses are based on a number of assumptions and estimates and results would change if different methods were applied.
(2) Balance Sheet adjustments represent the inclusion of assets related to discontinued operations.
1
SCHEDULE IV — REINSURANCE
PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(dollars in thousands)
COL. A |
| COL. B |
| COL. C |
| COL. D |
| COL. E |
| COL. F |
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| Gross Amount |
| Ceded to Other |
| Assumed from |
| Net Amount |
| Percentage of |
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Year Ended |
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December 31, 2003: |
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Life insurance in force |
| $ | 324,318,517 |
| $ | 292,740,795 |
| $ | 22,176,303 |
| $ | 53,754,025 |
| 41.3 | % |
Premiums and policy fees: |
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Life insurance |
| $ | 1,011,553 |
| $ | 765,276 |
| $ | 247,592 |
| $ | 493,869 |
| 50.1 | % |
Accident/health insurance |
| 99,023 |
| 61,644 |
| 59,633 |
| 97,012 |
| 61.5 | % | ||||
Property/liability insurance |
| 170,322 |
| 91,015 |
| 65,688 |
| 144,995 |
| 45.3 |
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Total |
| $ | 1,280,898 |
| $ | 917,935 |
| $ | 372,913 |
| $ | 735,876 |
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Year Ended |
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December 31, 2002: |
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Life insurance in force |
| $ | 248,994,479 |
| $ | 219,025,215 |
| $ | 21,523,110 |
| $ | 51,492,374 |
| 41.8 | % |
Premiums and policy fees: |
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Life insurance |
| $ | 831,129 |
| $ | 532,738 |
| $ | 235,198 |
| $ | 533,589 |
| 44.1 | % |
Accident/health insurance |
| 103,858 |
| 61,512 |
| 44,337 |
| 86,683 |
| 51.1 | % | ||||
Property/liability insurance |
| 194,601 |
| 143,908 |
| 110,543 |
| 161,236 |
| 68.6 |
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Total |
| $ | 1,129,588 |
| $ | 738,158 |
| $ | 390,078 |
| $ | 781,508 |
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Year Ended |
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December 31, 2001: |
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Life insurance in force |
| $ | 191,105,512 |
| $ | 171,449,182 |
| $ | 23,152,614 |
| $ | 42,808,944 |
| 54.1 | % |
Premiums and policy fees: |
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Life insurance |
| $ | 774 294 |
| $ | 565,130 |
| $ | 198,832 |
| $ | 407,996 |
| 48.7 | % |
Accident/health insurance |
| 181,509 |
| 122,747 |
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| 58,762 |
| 0.0 | % | ||||
Property/liability insurance |
| 158,890 |
| 83,274 |
| 76,295 |
| 151,911 |
| 50.2 | % | ||||
Total |
| $ | 1,114,693 |
| $ | 771,151 |
| $ | 275,127 |
| $ | 618,669 |
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SCHEDULE V – VALUATION ACCOUNTS
PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES
(dollars in thousands)
COL. A |
| COL. B |
| COL. C |
| COL. D |
| COL. E |
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| Additions |
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Description |
| Balance at |
| (1) |
| (2) |
| Deductions |
| Balance at end |
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2003 |
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Allowance for Uncollected Reinsurance Receivable |
| $ | 24,833 |
| $ | 0 |
| $ | 0 |
| $ | 18,371 |
| $ | 6,462 |
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2002 |
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Allowance for Uncollected Reinsurance Receivable |
| $ | 0 |
| $ | 0 |
| $ | 24,833 |
| $ | 0 |
| $ | 24,833 |
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