-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NrwlLToXXQ9j5YWMpfMaH/cbb3WX9BS2v5AwgzL67MThUiPG+rH+8QuDlNL+Pdjw 8iz9DHwFT72OMcSVYx6+OA== 0000023971-08-000010.txt : 20080530 0000023971-08-000010.hdr.sgml : 20080530 20080530130141 ACCESSION NUMBER: 0000023971-08-000010 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080530 DATE AS OF CHANGE: 20080530 EFFECTIVENESS DATE: 20080530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONTINENTAL ASSURANCE CO SEPARATE ACCOUNT B CENTRAL INDEX KEY: 0000023971 IRS NUMBER: 360947200 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-01402 FILM NUMBER: 08869514 BUSINESS ADDRESS: STREET 1: 333 SOUTH. WABASH AVENUE CITY: CHICAGO STATE: IL ZIP: 60604 BUSINESS PHONE: 3128224921 MAIL ADDRESS: STREET 1: 333 SOUTH. WABASH AVENUE CITY: CHICAGO STATE: IL ZIP: 60604 0000023971 S000011206 CONTINENTAL ASSURANCE CO SEPARATE ACCOUNT B C000030879 CONTINENTAL ASSURANCE CO SEPARATE ACCOUNT B N-Q 1 formnq.txt Q1 HOLDINGS ITEM 1. Schedule of Investments March 31, 2008 - (Unaudited) COMMON STOCK _______________________________________________________________________ _______________________________________________________________________ SHARES MARKET VALUE ($) _______________________________________________________________________ CONSUMER DISCRETIONARY (4.30%) -------------------------------------- COACH, INC. 21,000 633,150.00 MARRIOTT INTERNATIONAL,INC. - CL A 31,000 1,065,160.00 ____________ 1,698,310.00 CONSUMER STAPLES (13.99%) -------------------------------------------- ALTRIA GROUP, INC. 15,000 333,000.00 CVS CAREMARK CORPORATION 25,000 1,012,750.00 PEPSICO, INC. 22,000 1,588,400.00 PHILIP MORRIS INTERNATIONAL INC. 15,000 758,700.00 THE CLOROX COMPANY 15,000 849,600.00 THE PROCTER & GAMBLE COMPANY 14,000 980,980.00 ____________ 5,523,430.00 ENERGY (14.86%) ------------------------------------------------------ EXXON MOBIL CORPORATION 16,000 1,353,280.00 HALLIBURTON COMPANY 30,000 1,179,900.00 SCHLUMBERGER LIMITED 20,000 1,740,000.00 WEATHERFORD INTERNATIONAL LTD. 22,000 1,594,340.00 ____________ 5,867,520.00 FINANCIALS (4.06%) -------------------------------------------------- JPMORGAN CHASE & CO. 19,000 816,050.00 THE BANK OF NEW YORK MELLON CORPORATION 18,868 787,361.64 ____________ 1,603,411.64 HEALTH CARE (9.27%) -------------------------------------------------- GILEAD SCIENCES, INC. 20,000 1,030,600.00 PHARMACEUTICAL HOLDRS (SM) TRUST 12,500 871,750.00 ST. JUDE MEDICAL, INC. 20,000 863,800.00 UNITEDHEALTH GROUP INCORPORATED 26,000 893,360.00 ____________ 3,659,510.00 INDUSTRIALS (18.02%) ------------------------------------------------- THE BOEING COMPANY 10,800 803,196.00 CSX CORPORATION 36,000 2,018,520.00 FLUOR CORPORATION 7,000 988,120.00 GENERAL ELECTRIC COMPANY 30,000 1,110,300.00 L-3 COMMUNICATIONS HOLDINGS, INC. 10,000 1,093,400.00 UNITED TECHNOLOGIES CORPORATION 16,000 1,101,120.00 ____________ 7,114,656.00 INFORMATION TECHNOLOGY (25.88%) -------------------------------------- CISCO SYSTEMS, INC. 40,000 963,600.00 CORNING INCORPORATED 35,000 841,400.00 EMC CORPORATION 43,000 616,620.00 GOOGLE INC. 5,000 2,202,350.00 HEWLETT-PACKARD COMPANY 30,000 1,369,800.00 INTEL CORPORATION 50,000 1,059,000.00 MASTERCARD INCORPORATED 10,000 2,229,900.00 VISA INC. 15,000 935,400.00 ____________ 10,218,070.00 MATERIALS (4.27%) ---------------------------------------------------- PRAXAIR, INC. 20,000 1,684,600.00 UTILITIES (3.09%) ---------------------------------------------------- EXELON CORPORATION 15,000 1,219,050.00 _______________________________________________________________________ _______________________________________________________________________ SHORT TERM BONDS/CASH EQUIVALENTS (2.26%) ........................... _______________________________________________________________________ JPMORGAN US GOVERNMENT AGENCY SHARES 894,407.10 894,407.10 _______________________________________________________________________ _______________________________________________________________________ TOTAL INVESTMENTS 39,482,964.74 (*) All of the security is pledged as collateral for open option contracts. ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Continental Assurance Company Separate Account (B) By: /s/ Lynne Gugenheim ---------------------------------------------- Lynne Gugenheim Secretary Date May 30, 2008 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. Continental Assurance Company Separate Account (B) By: /s/ Lynne Gugenheim ---------------------------------------------- Lynne Gugenheim Secretary (Principal Executive Officer) Date May 30, 2008 Continental Assurance Company By: /s/ D. Craig Mense ---------------------------------------------- D. Craig Mense Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) Date May 30, 2008 EX-99.CERT 2 ex99cert.txt CERTIFICATIONS EX-99.CERT 2 CERTIFICATIONS I, Lynne Gugenheim, certify that: 1. I have reviewed this report on Form N-Q of Continental Assurance Company Separate Account (B); 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 30, 2008 Continental Assurance Company Separate Account (B) By: _ /s/ Lynne Gugenheim Lynne Gugenheim Secretary (Principal Executive Officer) EX-99.CERT 2 CERTIFICATIONS I, D. Craig Mense, certify that: 1. I have reviewed this report on Form N-Q of Continental Assurance Company Separate Account (B); 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 30, 2008 Continental Assurance Company By: __ /s/ D. Craig Mense D. Craig Mense Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) -----END PRIVACY-ENHANCED MESSAGE-----