-----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, UI2iC/KRLKWCLAa/jyJ9VXsQmRVn6fN7KN/6JE2j7PudCCA1L8yiU7Ejv51fNvjq oGYas7mSVdgFgzzedgJ6pw== 0000837276-03-000180.txt : 20030815 0000837276-03-000180.hdr.sgml : 20030815 20030815165505 ACCESSION NUMBER: 0000837276-03-000180 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030815 EFFECTIVENESS DATE: 20030815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEPARATE ACCOUNT B OF GOLDEN AMERICAN LIFE INSURANCE CO CENTRAL INDEX KEY: 0000836687 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-30180 FILM NUMBER: 03851189 BUSINESS ADDRESS: STREET 1: 1475 DUNWOODY DRIVE STREET 2: SUITE 400 CITY: WEST CHESTER STATE: PA ZIP: 19380-1478 BUSINESS PHONE: 610-425-3516 MAIL ADDRESS: STREET 1: 1475 DUNWOODY DRIVE STREET 2: P. O. BOX 2700 CITY: WEST CHESTER STATE: PA ZIP: 19380-2700 FORMER COMPANY: FORMER CONFORMED NAME: SPECIALTY MANAGERS SEPARATE ACCOUNT B DATE OF NAME CHANGE: 19910529 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN CAPITAL SPECIALTY MANAGERS SEPARATE ACCOUNT B DATE OF NAME CHANGE: 19890914 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEPARATE ACCOUNT B OF GOLDEN AMERICAN LIFE INSURANCE CO CENTRAL INDEX KEY: 0000836687 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-05626 FILM NUMBER: 03851190 BUSINESS ADDRESS: STREET 1: 1475 DUNWOODY DRIVE STREET 2: SUITE 400 CITY: WEST CHESTER STATE: PA ZIP: 19380-1478 BUSINESS PHONE: 610-425-3516 MAIL ADDRESS: STREET 1: 1475 DUNWOODY DRIVE STREET 2: P. O. BOX 2700 CITY: WEST CHESTER STATE: PA ZIP: 19380-2700 FORMER COMPANY: FORMER CONFORMED NAME: SPECIALTY MANAGERS SEPARATE ACCOUNT B DATE OF NAME CHANGE: 19910529 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN CAPITAL SPECIALTY MANAGERS SEPARATE ACCOUNT B DATE OF NAME CHANGE: 19890914 485BPOS 1 n4landmark.txt REGISTRATION STATEMENT As filed with the Securities and Exchange Commission on August 15, 2003 Registration Nos. 333-30180; 811-05626 - ------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Pre-Effective Amendment No. ___ [ ] Post-Effective Amendment No. 12 [X] and/or REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 Amendment No. [X] (Check appropriate box or boxes) SEPARATE ACCOUNT B (Exact Name of Registrant) GOLDEN AMERICAN LIFE INSURANCE COMPANY (Name of Depositor) 1475 Dunwoody Drive West Chester, Pennsylvania 19380-1478 (Address of Depositor's Principal Executive Offices) (Zip Code) Depositor's Telephone Number, including Area Code (610) 425-3400 Linda E. Senker, Esq. Kimberly J. Smith, Esq. ING ING 1475 Dunwoody Drive 1475 Dunwoody Drive West Chester, PA 19380-1478 West Chester, PA 19380-1478 (610) 425-4139 (610) 425-3427 (Name and Address of Agent for Service) Approximate Date of Proposed Public Offering: As soon as practical after the effective date of the Registration Statement It is proposed that this filing will become effective (check appropriate box): [ ] immediately upon filing pursuant to paragraph (b) of Rule 485 [X] on September 2, 2003 pursuant to paragraph (b) of Rule 485 [ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485 [ ] on (date) pursuant to paragraph (a)(1) of Rule 485 If appropriate, check the following box: [ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment. Title of Securities Being Registered: Deferred Combination Variable and Fixed Annuity Contracts - ---------------------------------------------------------------------------- EXPLANATORY NOTE The Prospectus and Statement of Additional Information, dated May 1, 2003, are incorporated into Parts A and B, respectively, of this Post-Effective Amendment No. 12 by reference to Post-Effective Amendment No. 11 to the Registration Statement on Form N-4 (File No. 333-30180), as filed on April 16, 2003. One supplement dated September 2, 2003 to the Prospectus is included in Part A of this Post-Effective Amendment No. 12. PARTS A and B ING (lion logo) GOLDEN AMERICAN LIFE INSURANCE COMPANY SEPARATE ACCOUNT B OF GOLDEN AMERICAN LIFE INSURANCE COMPANY PROSPECTUS SUPPLEMENT DATED SEPTEMBER 2, 2003 SUPPLEMENT TO THE PROSPECTUSES DATED MAY 1, 2003 FOR DEFERRED COMBINATION VARIABLE AND FIXED ANNUITY CONTRACTS ISSUED BY GOLDEN AMERICAN LIFE INSURANCE COMPANY ("GOLDENSELECT ACCESS(R), GOLDENSELECT ACCESS(R) ONE, GOLDENSELECT DVA, GOLDENSELECT DVA PLUS(R), GOLDENSELECT ES II(R), GOLDENSELECT GENERATIONS, GOLDENSELECT LANDMARK, GOLDENSELECT OPPORTUNITIES, GOLDENSELECT PREMIUM PLUS(R)") The information in this supplement updates and amends certain information contained in the prospectus dated May 1, 2003. You should read and keep this supplement along with the prospectus. 1. The following investment portfolios and portfolio managers are added to the list of investment portfolios and portfolio managers available under your Contract: CAPITAL RESEARCH MANAGEMENT COMPANY ING American Funds Growth Portfolio (Class 2)1 ING American Funds Growth-Income Portfolio (Class 2)1 ING American Funds International Portfolio (Class 2)1 JP MORGAN FLEMING ASSET MANAGEMENT (LONDON) LTD. ING JP Morgan Fleming International Portfolio (Class S)2 PROFUND ADVISORS LLC ProFund VP Rising Rates Opportunity SALOMON BROTHERS ASSET MANAGEMENT, INC. ING Salomon Brothers Aggressive Growth Portfolio (Class S)2 2. The following Fund is added to the list of Trusts and Funds containing investment portfolios available under your Contract in the section, "The Trusts and Funds": ING Partners, Inc. is a mutual fund whose shares are offered only to insurance companies to fund benefits under their variable annuity and variable life insurance contracts. The address of ING Partners, Inc. is 151 Farmington Avenue, Hartford, Connecticut 06156-8962. ---------------------- 1 The investment adviser for this portfolio is Directed Services, Inc. The portfolio manager listed is the sub-adviser. Directed Services is an affiliated Company of ING Groep, N.V. 2 The investment adviser for this portfolio is ING Life Insurance and Annuity Company. The portfolio manager listed is the sub-adviser. 3. To the extent Special Funds are included in your Contract, ProFund VP Rising Rates Opportunity is hereby designated a "Special Fund". 4. The following ING Investors Trust portfolio has changed its name and subadviser as indicated in the chart below:
------------------------------------------- ------------------------------------ FORMER FUND NAME AND SUBADVISER NEW FUND NAME AND SUBADVISER ------------------------------------------- ------------------------------------ ING JPMorgan Fleming International Enhanced EAFE Portfolio ING Julius Baer Foreign Portfolio ------------------------------------------- ------------------------------------ SUBADVISER: J.P. Morgan Fleming Asset SUBADVISER: Julius Baer Investment Management (London) Ltd. Management, Inc. ------------------------------------------- ------------------------------------
5. Appendix B-- The Investment Portfolios, is amended to add the following investment options to those available under your Contract:
------------------------------------------------------- -------------------------------------------------------- FUND NAME AND INVESTMENT ADVISER/SUBADVISER INVESTMENT OBJECTIVE ------------------------------------------------------- -------------------------------------------------------- ING INVESTORS TRUST (FORMERLY THE GCG TRUST) ---------------------------------------------------------------------------------------------------------------- ING AMERICAN FUNDS GROWTH PORTFOLIO (CLASS 2) Invests all of its assets in shares of the Growth INVESTMENT ADVISER: Directed Services, Inc. Fund, a series of American Funds Insurance Series, a INVESTMENT SUBADVISER: Capital Research registered open-end investment company. The Growth Management Company Fund seeks to make the shareholders' investment grow by investing primarily in common stocks of companies that appear to offer superior opportunities for growth of capital. The Growth Fund is designed for investors seeking long term capital appreciation through stocks. ------------------------------------------------------- -------------------------------------------------------- ING AMERICAN FUNDS GROWTH-INCOME PORTFOLIO (CLASS 2) Invests all of its assets in shares of the INVESTMENT ADVISER: Directed Services, Inc. Growth-Income Fund, a series of American Funds INVESTMENT SUBADVISER: Capital Research Insurance Series, a registered open-end investment Management Company company. The Growth-Income Fund seeks to make the shareholders' investment grow and to provide shareholders with income over time by investing primarily in common stocks or other securities which demonstrate the potential for appreciation and/or dividends. The Growth-Income Fund is designed for investors seeking both capital appreciation and income. ------------------------------------------------------- -------------------------------------------------------- ING AMERICAN FUNDS INTERNATIONAL PORTFOLIO (CLASS 2) Invests all of its assets in shares of the INVESTMENT ADVISER: Directed Services, Inc. International Fund, a series of American Funds INVESTMENT SUBADVISER: Capital Research Insurance Series, a registered open-end investment Management Company company. The International Fund seeks to make the shareholders' investment grow over time by investing primarily in common stocks of companies located outside the United States. The International Fund is designed for investors seeking capital appreciation through stocks. ------------------------------------------------------- -------------------------------------------------------- ING PARTNERS, INC. ------------------------------------------------------- -------------------------------------------------------- ING JPMORGAN FLEMING INTERNATIONAL PORTFOLIO (CLASS S) Seeks long-term growth of capital. Invests primarily INVESTMENT ADVISER: ING Life Insurance and (at least 65% of total assets) in the equity Annuity Company securities of foreign companies that the subadviser INVESTMENT SUBADVISER: J.P. Morgan Fleming Asset believes have high growth potential. Will normally Management (London) Ltd. invest in securities of at least three different countries other than the U.S. and will invest in both developed and developing markets. ------------------------------------------------------- -------------------------------------------------------- ING SALOMON BROTHERS AGGRESSIVE GROWTH PORTFOLIO Seeks long-term growth of capital. Invests primarily (CLASS S) (at least 80% of net assets under normal INVESTMENT ADVISER: ING Life Insurance and circumstances) in common stocks and related Annuity Company securities, such as preferred stocks, convertible INVESTMENT SUBADVISER: Salomon Brothers Asset securities and depositary receipts, of emerging growth Management, Inc. companies. ---------------------------------------------------------------------------------------------------------------- PROFUNDS VP ------------------------------------------------------- -------------------------------------------------------- PROFUND VP RISING RATES OPPORTUNITY Seeks daily investment results, before fees and INVESTMENT ADVISER: ProFund Advisors LLC expenses, that correspond to one and one-quarter times (125%) the inverse (opposite) of the daily price movement of the most recently issued 30-year U.S. Treasury Bond ("Long Bond"). ------------------------------------------------------- --------------------------------------------------------
6. The following chart is added to "Appendix B -- The Investment Portfolios." The column labeled "Gross Expense Ratio" shows the total annual operating expenses charged by a Trust or Fund, absent expense reimbursement or fee waiver arrangements. The column labeled "Net Expense Ratio" shows such total annual operating expenses after applicable expense reimbursement or fee waiver arrangements where such reimbursement or waiver is expected to continue through December 31, 2003.
--------------------------------------------------------------------------------------------------------------------- GROSS NET EXPENSE EXPENSE PORTFOLIO CLASS MANAGER RATIO RATIO --------------------------------------------------------------------------------------------------------------------- ING INVESTORS TRUST --------------------------------------------------------------------------------------------------------------------- ING AIM Mid-Cap Growth Portfolio S A I M Capital Management, Inc. 0.95% 0.95% --------------------------------------------------------------------------------------------------------------------- ING Alliance Mid-Cap Growth S Alliance Capital Management L.P. 1.05% 1.05% Portfolio --------------------------------------------------------------------------------------------------------------------- ING American Funds Growth 2 Capital Research and Management Company 1.18% 1.18% Portfolio --------------------------------------------------------------------------------------------------------------------- ING American Funds 2 Capital Research and Management Company 1.13% 1.13% Growth-Income Portfolio --------------------------------------------------------------------------------------------------------------------- ING American Funds 2 Capital Research and Management Company 1.41% 1.41% International Portfolio --------------------------------------------------------------------------------------------------------------------- ING Capital Guardian Large Cap S Capital Guardian Trust Company 1.01% 1.01% Value Portfolio --------------------------------------------------------------------------------------------------------------------- ING Capital Guardian Managed S Capital Guardian Trust Company 1.26% 1.26% Global Portfolio --------------------------------------------------------------------------------------------------------------------- ING Capital Guardian Small Cap S Capital Guardian Trust Company 0.95% 0.95% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Developing World Portfolio S Baring International Investment Limited 1.76% 1.76% --------------------------------------------------------------------------------------------------------------------- ING Eagle Asset Value Equity S Eagle Asset Management, Inc. 0.95% 0.95% Portfolio --------------------------------------------------------------------------------------------------------------------- ING FMRSM Diversified Mid Cap S Fidelity Management & Research Company 1.01% 1.01% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Goldman Sachs Internet S Goldman Sachs Asset Management, LP 1.86% 1.86% TollkeeperSM Portfolio --------------------------------------------------------------------------------------------------------------------- ING Hard Assets Portfolio S Baring International Investment Limited 0.94% 0.94% --------------------------------------------------------------------------------------------------------------------- ING International Portfolio S ING Investments LLC 1.26% 1.26% --------------------------------------------------------------------------------------------------------------------- ING Janus Growth and Income S Janus Capital Management LLC 1.11% 1.11% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Janus Special Equity S Janus Capital Management LLC 1.11% 1.11% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Jennison Equity S Jennison Associates LLC 0.95% 0.95% Opportunities Portfolio --------------------------------------------------------------------------------------------------------------------- ING JPMorgan Fleming Small Cap S JPMorgan Fleming Asset Management (USA) Inc. 1.16% 1.16% Equity Portfolio --------------------------------------------------------------------------------------------------------------------- ING Julius Baer Foreign S Julius Baer Investment Management, Inc. 1.26% 1.26% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Limited Maturity Bond S ING Investment Management LLC 0.53% 0.53% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Liquid Assets Portfolio S ING Investment Management LLC 0.53% 0.53% --------------------------------------------------------------------------------------------------------------------- ING Marsico Growth Portfolio S Marsico Capital Management LLC 1.04% 1.04% --------------------------------------------------------------------------------------------------------------------- ING Mercury Focus Value S Mercury Advisors 1.06% 1.06% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Mercury Fundamental Growth S Mercury Advisors 1.06% 1.06% Portfolio --------------------------------------------------------------------------------------------------------------------- ING MFS Mid Cap Growth Portfolio S Massachusetts Financial Services Company 0.91% 0.91% --------------------------------------------------------------------------------------------------------------------- ING MFS Research Portfolio S Massachusetts Financial Services Company 0.91% 0.91% --------------------------------------------------------------------------------------------------------------------- ING MFS Total Return Portfolio S Massachusetts Financial Services Company 0.91% 0.91% --------------------------------------------------------------------------------------------------------------------- ING PIMCO Core Bond Portfolio S Pacific Investment Management Company LLC 0.93% 0.93% --------------------------------------------------------------------------------------------------------------------- ING Salomon Brothers All Cap S Salomon Brothers Asset Management, Inc. 1.01% 1.01% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Salomon Brothers Investors S Salomon Brothers Asset Management, Inc. 1.01% 1.01% Portfolio --------------------------------------------------------------------------------------------------------------------- ING T. Rowe Price Capital S T. Rowe Price Associates, Inc. 0.95% 0.95% Appreciation Portfolio --------------------------------------------------------------------------------------------------------------------- ING T. Rowe Price Equity Income S T. Rowe Price Associates, Inc. 0.95% 0.95% Portfolio --------------------------------------------------------------------------------------------------------------------- ING UBS U.S. Balanced Portfolio S UBS Global Asset Management (Americas) Inc. 1.01% 1.01% --------------------------------------------------------------------------------------------------------------------- ING Van Kampen Equity Growth S Van Kampen 1.01% 1.01% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Van Kampen Global Franchise S Van Kampen 1.26% 1.26% Portfolio --------------------------------------------------------------------------------------------------------------------- ING Van Kampen Growth and S Van Kampen 0.95% 0.95% Income Portfolio --------------------------------------------------------------------------------------------------------------------- ING Van Kampen Real Estate S Van Kampen 0.95% 0.95% Portfolio --------------------------------------------------------------------------------------------------------------------- ING PARTNERS, INC. --------------------------------------------------------------------------------------------------------------------- ING JPMorgan Fleming Service JPMorgan Fleming Asset Management (London) 1.25% 1.25% International Portfolio Ltd. --------------------------------------------------------------------------------------------------------------------- ING Salomon Brothers Aggressive Service Salomon Brothers Asset Management Inc. 1.07% 1.07% Growth Portfolio --------------------------------------------------------------------------------------------------------------------- ING VARIABLE INSURANCE TRUST --------------------------------------------------------------------------------------------------------------------- ING VP Worldwide Growth Service ING Investments LLC 2.07% 1.23% Portfolio --------------------------------------------------------------------------------------------------------------------- ING VARIABLE PRODUCT PORTFOLIOS, INC. --------------------------------------------------------------------------------------------------------------------- ING VP Bond Portfolio S Aeltus Investment Management, Inc. 0.74% 0.74% --------------------------------------------------------------------------------------------------------------------- ING VP Index Plus LargeCap S Aeltus Investment Management, Inc. 0.71% 0.71% Portfolio --------------------------------------------------------------------------------------------------------------------- ING VARIABLE PRODUCTS TRUST --------------------------------------------------------------------------------------------------------------------- ING VP Growth Opportunities Service ING Investments LLC 1.58% 1.10% Portfolio --------------------------------------------------------------------------------------------------------------------- ING VP MagnaCap Portfolio Service ING Investments LLC 1.45% 1.10% --------------------------------------------------------------------------------------------------------------------- ING VP SmallCap Opportunities Service ING Investments LLC 1.49% 1.10% Portfolio --------------------------------------------------------------------------------------------------------------------- AIM VARIABLE INSURANCE FUNDS --------------------------------------------------------------------------------------------------------------------- AIM V.I. Dent Demographic II A I M Advisors, Inc. 1.68% 1.45% Trends Fund --------------------------------------------------------------------------------------------------------------------- FIDELITY VARIABLE INSURANCE PRODUCTS PORTFOLIO --------------------------------------------------------------------------------------------------------------------- Fidelity VIP Equity-Income S2 FMR Co., Inc. 0.83% 0.83% Portfolio --------------------------------------------------------------------------------------------------------------------- Fidelity VIP Growth Portfolio S2 FMR Co., Inc. 0.93% 0.93% --------------------------------------------------------------------------------------------------------------------- INVESCO VARIABLE INVESTMENT FUNDS, INC. --------------------------------------------------------------------------------------------------------------------- INVESCO VIF-- Financial INVESCO Funds Group, Inc. 1.09% 1.09% Services Fund --------------------------------------------------------------------------------------------------------------------- INVESCO VIF-- Health Sciences INVESCO Funds Group, Inc. 1.07% 1.07% Fund --------------------------------------------------------------------------------------------------------------------- INVESCO VIF-- Leisure Fund INVESCO Funds Group, Inc. 3.96% 3.96% --------------------------------------------------------------------------------------------------------------------- INVESCO VIF-- Utilities Fund INVESCO Funds Group, Inc. 1.18% 1.15% --------------------------------------------------------------------------------------------------------------------- LIBERTY VARIABLE INSURANCE TRUST --------------------------------------------------------------------------------------------------------------------- Colonial Small Cap Value Fund B Columbia Management Advisers, Inc. 1.39% 1.10% --------------------------------------------------------------------------------------------------------------------- PIMCO VARIABLE INSURANCE TRUST: --------------------------------------------------------------------------------------------------------------------- PIMCO High Yield Portfolio Pacific Investment Management Company 0.76% 0.75% --------------------------------------------------------------------------------------------------------------------- PIMCO StocksPLUS Growth and Pacific Investment Management Company 0.66% 0.65% Income Portfolio (closed to new investors) --------------------------------------------------------------------------------------------------------------------- PIONEER VARIABLE CONTRACTS TRUST --------------------------------------------------------------------------------------------------------------------- Pioneer Fund VCT Portfolio II Pioneer Investment Management, Inc. 1.06% 1.06% --------------------------------------------------------------------------------------------------------------------- Pioneer Mid-Cap Value VCT II Pioneer Investment Management, Inc. 1.07% 1.07% Portfolio --------------------------------------------------------------------------------------------------------------------- PRO FUNDS VP --------------------------------------------------------------------------------------------------------------------- ProFund VP Bull ProFund Advisors LLC 1.91% 1.91% --------------------------------------------------------------------------------------------------------------------- ProFund VP Europe 30 ProFund Advisors LLC 2.03% 1.98% --------------------------------------------------------------------------------------------------------------------- ProFund VP Rising Rates ProFund Advisors LLC 2.13% 1.98% Opportunity --------------------------------------------------------------------------------------------------------------------- ProFund VP Small-Cap ProFund Advisors LLC 1.97% 1.97% --------------------------------------------------------------------------------------------------------------------- PRUDENTIAL SERIES FUND, INC. --------------------------------------------------------------------------------------------------------------------- Jennison Portfolio II Jennison Associates LLC 1.01% 1.01% --------------------------------------------------------------------------------------------------------------------- SP Jennison International II Jennison Associates LLC 1.80% 1.80% Growth Portfolio ---------------------------------------------------------------------------------------------------------------------
ING (lion logo) GOLDEN AMERICAN LIFE INSURANCE COMPANY Golden American Life Insurance Company is a stock company domiciled in Delaware. 127445 - GoldenSelect 09/02/03 PART C - OTHER INFORMATION ITEM 24: FINANCIAL STATEMENTS AND EXHIBITS FINANCIAL STATEMENTS (a) (1) All financial statements are included in the Prospectus or the Statement of Additional Information as indicated therein (2) Schedules I and IV follow. All other schedules to the consolidated financial statements required by Article 7 of Regulation S-X are omitted because they are not applicable or because the information is included elsewhere in the consolidated financial statements or notes thereto.
SCHEDULE I Summary of Investments - Other than Investments in Affiliates As of December 31, 2002 (Millions) Amount shown on Balance Type of Investment Cost Value* Sheet ----------------------------------------------------------------------------------------------------------- Fixed maturities: U.S. government and government agencies and authorities $ 207.3 $ 209.5 $ 209.5 Public Utilities Securities 335.7 349.3 349.3 U.S. corporate securities 3,012.0 3,182.9 3,182.9 Foreign securities (1) 228.6 242.5 242.5 Mortgage-backed securities 641.7 653.5 653.5 Other asset-backed securities 294.8 298.7 298.7 Less: Fixed maturities pledged to creditors - - - ---------------------------------------------- Total fixed maturities $ 4,720.1 $ 4,936.4 $ 4,936.4 ---------------------------------------------- Equity securities: ---------------------------------------------- Total equity securities 22.9 19.0 19.0 ---------------------------------------------- Short term investments 2.2 2.2 2.2 Mortgage loans 482.4 482.4 482.4 Policy loans 16.0 16.0 16.0 ---------------------------------------------- Total other investments $ 500.6 $ 500.6 $ 500.6 =========================================================================================================== * See Notes 2 and 3 of Notes to Consolidated Financial Statements. (1) The term "foreign" includes foreign governments, foreign political subdivisions, foreign public utilities and all other bonds of foreign issuers. Substantially all of the Company's foreign securities are denominated in U.S. dollars.
SCHEDULE IV Reinsurance Information As of and for the years ended December 31, 2002, 2001 and 2000 (Millions) (Millions) Ceded to Assumed Percentage of Gross Other from Other Net Amount assumed Amount Companies Companies Amount to net - --------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------- AT DECEMBER 31, 2002 Life insurance in Force $ 158.7 $ 90.7 $ - $ 68.0 0.0% AT DECEMBER 31, 2001 Life insurance in Force $ 169.3 $ 94.8 $ - $ 74.5 0.0% AT DECEMBER 31, 2000 Life insurance in Force $ 196.3 $ 105.3 $ - $ 91.0 0.0%
(b) EXHIBITS 1 Resolution of the Board of Directors of Depositor authorizing the establishment of the Registrant (1) 2 Not Applicable 3 (a) Distribution Agreement between the Depositor and Directed Services, Inc. (1) (b) Form of Dealers Agreement (1) (c) Organizational Agreement (1) (d) Form of Assignment Agreement for Organizational Agreement (1) 4 (a) Deferred Combination Variable and Fixed Annuity Group Master Contract (4) (b) Flexible Premium Individual Deferred Combination Variable and Fixed Annuity Contract (4) (c) Flexible Premium Deferred Combination Variable and Fixed Annuity Certificate (4) (d) Flexible Premium Individual Deferred Variable Annuity Contract (4) (e) Individual Retirement Annuity Rider (10) (f) ROTH Individual Retirement Annuity Rider (10) (g) Minimum Guaranteed Accumulation Benefit Rider (REV) (5) (h) Minimum Guaranteed Income Benefit Rider (REV) (9) (i) Minimum Guaranteed Withdrawal Benefit Rider (REV) (5) (j) Death Benefit Endorsement No.1 (REV)(7% Solution Enhanced) (5) (k) Death Benefit Endorsement No.2 (REV)(Ratchet Enhanced) (5) (l) Death Benefit Endorsement No.3 (REV)(Standard) (5) (m) Death Benefit Endorsement No.4 (REV)(Max 7 Enhanced) (5) (n) Death Benefit Endorsement No.5 (Base Death Benefit) (5) (o) Earnings Enhancement Death Benefit Rider (5) (p) Simple Retirement Account Rider (10) (q) 403(b) Rider (10) 5 (a) Individual Deferred Combination Variable and Fixed Annuity Application (10) (b) Group Deferred Combination Variable and Fixed Annuity Enrollment Form (4) 6 (a) Certificate of Amendment of the Restated Articles of Incorporation of Golden American, dated (03/01/95) (1) (b) By-Laws of Golden American, dated (01/07/94) (1) (c) Resolution of the board of directors for Powers of Attorney, dated (04/23/99) (1) 7 Not applicable 8 (a) Administrative Services Agreement between Golden American and Equitable of Iowa companies (1) (b) Service Agreement between Golden American and Directed Services, Inc. (1) (c) Asset Management Agreement between Golden American and ING Investment Management LLC (1) (d) Reciprocal Loan Agreement between Golden American and ING America Insurance Holdings, Inc. (1) (e) Revolving Note Payable between Golden American and SunTrust Bank (1) (f) Surplus Note, dated 12/17/96, between Golden American and Equitable of Iowa Companies (2) (g) Surplus Note, dated 12/30/98, between Golden American and Equitable Life Insurance Company of Iowa (2) (h) Surplus Note, dated 09/30/99, between Golden American and ING AIH (2) (i) Surplus Note, dated 12/08/99, between Golden American and First Columbine Life Insurance Company (1) (j) Surplus Note, dated, 12/30/99, between Golden American and Equitable Life Insurance Company of Iowa (1) (k) Reinsurance Agreement, dated 06/30/00, between Golden American and Equitable Life Insurance Company of Iowa (3) (l) Renewal of Revolving Note Payable between Golden American and SunTrust Bank as of July 31, 2000 and expiring July 31, 2001 (3) (m) Participation Agreement between Golden American and PIMCO Variable Insurance Trust (4) (n) Participation Agreement between Golden American and Prudential Series Fund, Inc. (4) (o) Participation Agreement between Golden American and ING Variable Insurance Trust (4) (p) Amendment to the Participation Agreement between Golden American and Prudential Series Fund, Inc. (4) (q) Reinsurance Agreement, effective 01/01/00, between Golden American and Security Life of Denver International Limited (5) (r) Letter of Credit between Security Life of Denver International Limited and The Bank of New York for the benefit of Golden American (5) (s) Form of Participation Agreement between Golden American and ProFunds (5) (t) Amendment to the Reinsurance Agreement, amended 09/28/01, between Golden American and Security Life of Denver International Limited (6) (u) Renewal of Revolving Note Payable between Golden American and SunTrust Bank as of April 30, 2001 and expiring May 31, 2002 (6) (v) Participation Agreement between Golden American and ING Variable Products Trust (7) (w) Participation Agreement between Golden American and Pioneer Variable Contracts Trust (7) (x) Participation Agreement between Golden American and Fidelity Distributors Corporation (7) (y) Participation Agreement between Golden American and ING Variable Insurance Trust (7) (z) Participation Agreement between Golden American and AIM Variable Insurance Funds, Inc. (7) (aa) Participation Agreement between Golden American and INVESCO Variable Investment Funds, Inc. (7) (ab) Participation Agreement between Golden American and The Prudential Series Fund, Inc. (7) (9) Opinion and Consent of Kimberly J. Smith (10)(a) Consent of Ernst & Young LLP, Independent Auditors (b) Consent of Kimberly J. Smith, incorporated in Item 9 of this Part C, together with the Opinion of Kimberly J. Smith. (11) Not applicable (12) Not applicable (13) Schedule of Performance Data (8) (14) Not applicable (15) Powers of Attorney (11) (1) Incorporated herein by reference to the initial filing of a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on February 11, 2000 (File Nos. 333-30180, 811-5626). (2) Incorporated herein by reference to Pre-Effective Amendment No. 2 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on May 10, 2000 (File Nos. 333-30180, 811-5626). (3) Incorporated herein by reference to Post-Effective Amendment No. 1 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on September 13, 2000 (File Nos. 333-30180, 811-5626). (4) Incorporated herein by reference to Post-Effective Amendment No. 2 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on February 26, 2001 (File Nos. 333-30180, 811-5626). (5) Incorporated herein by reference to Post-Effective Amendment No. 3 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on or about April 23, 2001 (File Nos. 333-30180, 811-5626). (6) Incorporated herein by reference to Post-Effective Amendment No. 4 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on or about October 26, 2001 (File Nos. 333-30180, 811-5626). (7) Incorporated herein by reference to Post-Effective Amendment No. 32 to a Registration Statement on Form N-4 for Golden American Life Insurance Company Separate Account B (File Nos. 033-23351, 811-5626). (8) Incorporated herein by reference to Post-Effective Amendment No. 3 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on or about April 24, 2001 (File Nos. 333-30180, 811-5626). (9) Incorporated herein by reference to Post-Effective Amendment No. 9 to a Registration Statement on Form N-4 for Separate Account B filed with the Securities and Exchange Commission on or about October 28, 2002 (File Nos. 333-30180, 811-5626). (10) Incorporated herein by reference to Post-Effective Amendment No. 34 to a Registration Statement on Form N-4 for Golden American Life Insurance Company Separate Account B filed with the Securities and Exchange Commission on April 15, 2003 (File Nos. 033-23351, 811-5626). (11) Incorporated herein by reference to Post-Effective Amendment No. 3 to a Registration Statement on Form N-4 for Golden American Life Insurance Company Separate Account B filed with the Securities and Exchange Commission on June 5, 2003 (File Nos. 333-70600, 811-5626). ITEM 25: DIRECTORS AND OFFICERS OF THE DEPOSITOR Principal Position(s) Name Business Address with Depositor - ---- ---------------- -------------- Keith Gubbay ING Insurance Operations Director and President 5780 Powers Ferry Road Atlanta, GA 30327-4390 Cheryl L. Price ReliaStar Life Insurance Co. Vice President 20 Washington Avenue South Minneapolis, MN 55402 Boyd G. Combs ING Insurance Operations Senior Vice President 5780 Powers Ferry Road Atlanta, GA 30327-4390 Jacques de Vaucleroy ING Insurance Operations Senior Vice President 5780 Powers Ferry Road Atlanta, GA 30327-4390 Shaun P. Mathews ING Financial Services Senior Vice President 151 Farmington Avenue Hartford, CT 06156 James R. Gelder ReliaStar Life Insurance Co. Senior Vice President 20 Washington Avenue South Minneapolis, MN 55402 James R. McInnis Golden American Life Ins. Co. Senior Vice President 1475 Dunwoody Drive West Chester, PA 19380 Stephen J. Preston Golden American Life Ins. Co. Senior Vice President 1475 Dunwoody Drive West Chester, PA 19380 Thomas J. McInerney ING Insurance Operations Director 5780 Powers Ferry Road Atlanta, GA 30327-4390 David A. Wheat ING Insurance Operations Chief Financial Officer 5780 Powers Ferry Road Director Atlanta, GA 30327-4390 Mark A. Tullis ING Insurance Operations Director 5780 Powers Ferry Road Atlanta, GA 30327-4390 P. Randall Lowery ING Insurance Operations Director 5780 Powers Ferry Road Atlanta, GA 30327-4390 David L. Jacobson Golden American Life Ins. Co. Vice President, Chief 1475 Dunwoody Drive Compliance Officer and West Chester, PA 19380 Assistant Secretary David S. Pendergrass ING Insurance Operations Vice President and 5780 Powers Ferry Road Treasurer Atlanta, GA 30327-4390 Paula Cludray-Engelke ReliaStar Life Insurance Co. Secretary 20 Washington Avenue South Minneapolis, MN 55402 ITEM 26: PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE DEPOSITOR OR REGISTRANT The Depositor owned 100% of the stock of a New York company, First Golden American Life Insurance Company of New York ("First Golden"). The primary purpose of First Golden was to offer variable products in the state of New York. First Golden was merged into ReliaStar Life Insurance Company of New York, an affiliate of the Depositor on April 1, 2002. The following persons control or are under common control with the Depositor: DIRECTED SERVICES, INC. ("DSI") - This corporation is a general business corporation organized under the laws of the State of New York, and is wholly owned by ING Groep, N.V. ("ING"). The primary purpose of DSI is to act as a broker-dealer in securities. It acts as the principal underwriter and distributor of variable insurance products including variable annuities as required by the SEC. The contracts are issued by the Depositor. DSI also has the power to carry on a general financial, securities, distribution, advisory or investment advisory business; to act as a general agent or broker for insurance companies and to render advisory, managerial, research and consulting services for maintaining and improving managerial efficiency and operation. DSI is also registered with the SEC as an investment adviser. The registrant is a segregated asset account of the Company and is therefore owned and controlled by the Company. All of the Company's outstanding stock is owned and controlled by ING. Various companies and other entities controlled by ING may therefore be considered to be under common control with the registrant or the Company. Such other companies and entities, together with the identity of their controlling persons (where applicable), are set forth on the following organizational chart. Subsidiaries of ING Groep N.V. incorporated herein by reference to Item 26 in Post-Effective Amendment No. 28 to Registration Statement on Form N-4 (File No. 33-75988), as filed on April 10, 2003 for Variable Annuity Account C of ING Life Insurance and Annuity Company. ITEM 27: NUMBER OF CONTRACT OWNERS As of July 31, 2003, there are 148,323 qualified contract owners and 160,762 non-qualified contract owners in Golden American's Separate Account B. ITEM 28: INDEMNIFICATION Golden American shall indemnify (including therein the prepayment of expenses) any person who is or was a director, officer or employee, or who is or was serving at the request of Golden American as a director, officer or employee of another corporation, partnership, joint venture, trust or other enterprise for expenses (including attorney's fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him with respect to any threatened, pending or completed action, suit or proceedings against him by reason of the fact that he is or was such a director, officer or employee to the extent and in the manner permitted by law. Golden American may also, to the extent permitted by law, indemnify any other person who is or was serving Golden American in any capacity. The Board of Directors shall have the power and authority to determine who may be indemnified under this paragraph and to what extent (not to exceed the extent provided in the above paragraph) any such person may be indemnified. Golden American or its parents may purchase and maintain insurance on behalf of any such person or persons to be indemnified under the provision in the above paragraphs, against any such liability to the extent permitted by law. Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be permitted to directors, officers and controlling persons of the Registrant, as provided above or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification by the Depositor is against public policy, as expressed in the Securities Act of 1933, and therefore may be unenforceable. In the event that a claim of such indemnification (except insofar as it provides for the payment by the Depositor of expenses incurred or paid by a director, officer or controlling person in the successful defense of any action, suit or proceeding) is asserted against the Depositor by such director, officer or controlling person and the SEC is still of the same opinion, the Depositor or Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by the Depositor is against public policy as expressed by the Securities Act of 1933 and will be governed by the final adjudication of such issue. ITEM 29: PRINCIPAL UNDERWRITER (a) At present, Directed Services, Inc. ("DSI"), the Registrant's Distributor, also serves as principal underwriter for all contracts issued by Golden American. DSI is the principal underwriter for Separate Account A, Separate Account B, Equitable Life Insurance Company of Iowa Separate Account A, ReliaStar Life Insurance Company of New York Separate Account NY-B, Alger Separate Account A of Golden American and the ING Investors Trust (formerly known as The GCG Trust). (b) The following information is furnished with respect to the principal officers and directors of Directed Services, Inc., the Registrant's Distributor. The principal business address for each officer and director following is 1475 Dunwoody Drive, West Chester, PA 19380-1478, unless otherwise noted. Name and Principal Positions and Offices Business Address with Underwriter - -------------------- --------------------- James R. McInnis Director and President Alan G. Hoden Director Stephen J. Preston Director David S. Pendergrass Vice President and Treasurer ING Insurance Operations 5780 Powers Ferry Road Atlanta, GA 30327-4390 David L. Jacobson Senior Vice President Kimberly J. Smith Secretary (c) 2002 Net Name of Underwriting Compensation Principal Discounts and on Brokerage Underwriter Commissions Redemption Commissions Compensation - ----------- ------------ ------------- ----------- ------------ DSI $287,208,066 $0 $0 $0 ITEM 30: LOCATION OF ACCOUNTS AND RECORDS Accounts and records are maintained by Golden American Life Insurance Company at 1475 Dunwoody Drive, West Chester, Pennsylvania 19380-1478, ING Americas at 5780 Powers Ferry Road, N.W., Atlanta, GA 30327-4390 and by Equitable Life Insurance Company of Iowa, an affiliate, at 909 Locust Street, Des Moines, Iowa 50309. ITEM 31: MANAGEMENT SERVICES None. ITEM 32: UNDERTAKINGS (a) Registrant hereby undertakes to file a post-effective amendment to this registration statement as frequently as it is necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old so long as payments under the variable annuity contracts may be accepted. (b) Registrant hereby undertakes to include either (1) as part of any application to purchase a contract offered by the prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a post card or similar written communication affixed to or included in the prospectus that the applicant can remove to send for a Statement of Additional Information; and, (c) Registrant hereby undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request. REPRESENTATIONS 1. The account meets the definition of a "separate account" under federal securities laws. 2. Golden American Life Insurance Company hereby represents that the fees and charges deducted under the Contract described in the Prospectus, in the aggregate, are reasonable in relation to the services rendered, the expenses to be incurred and the risks assumed by the Company. SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that this Post-Effective Amendment to its Registration Statement on Form N-4 meets the requirements of Securities Act Rule 485(b) for effectiveness and has caused this Post-Effective Amendment to be signed on its behalf in the City of West Chester and Commonwealth of Pennsylvania on this 15th day of August, 2003. SEPARATE ACCOUNT B (Registrant) By: GOLDEN AMERICAN LIFE INSURANCE COMPANY (Depositor) By: -------------------- Keith Gubbay* President Attest: /s/ Linda E. Senker ------------------------ Linda E. Senker Counsel of Depositor As required by the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on August 15, 2003. Signature Title - --------- ----- President - -------------------- Keith Gubbay* DIRECTORS OF DEPOSITOR - ---------------------- David A. Wheat* - ---------------------- Thomas J. McInerney* - ---------------------- Mark A. Tullis* - ---------------------- P. Randall Lowery* Attest: /s/ Linda E. Senker ------------------------ Linda E. Senker Counsel of Depositor *Executed by Linda E. Senker on behalf of those indicated pursuant to Power of Attorney. EXHIBIT INDEX ITEM EXHIBIT PAGE # - ---- ------- -------- 9 Opinion and Consent of Kimberly J. Smith EX-99.B9 10(a) Consent of Ernst & Young LLP, Independent Auditors EX-99.B10A EX-99.B9 3 kjsopinionltrn4.txt OPINION OF COUNSEL ING KIMBERLY J. SMITH Counsel August 15, 2003 Members of the Board of Directors Golden American Life Insurance Company 1475 Dunwoody Drive West Chester, PA 19380-1478 Gentlemen: In my capacity as Counsel for Golden American Life Insurance Company (the "Company"), I have examined the form of Registration Statement on Form N-4 to be filed by you with the Securities and Exchange Commission in connection with the registration under the Securities Act of 1933, as amended, of an indefinite number of units of interest in Separate Account B of the Company (the "Account"). I am familiar with the proceedings taken and proposed to be taken in connection with the authorization, issuance and sale of units. Based upon my examination and upon my knowledge of the corporate activities relating to the Account, it is my opinion that: (1) The Company was organized in accordance with the laws of the State of Delaware and is a duly authorized stock life insurance company under the laws of Delaware and the laws of those states in which the Company is admitted to do business; (2) The Account is a validly established separate investment account of the Company; (3) Under Delaware law, the portion of the assets to be held in the Account equals the reserve and other liabilities for variable benefits under variable annuity contracts to be issued by the Account, and such assets are not chargeable with liabilities arising out of any other business the Company conducts; (4) The units and the variable annuity contracts will, when issued and sold in the manner described in the registration statement, be legal and binding obligations of the Company and will be legally and validly issued, fully paid, and non-assessable. I hereby consent to the filing of this opinion as an exhibit to the registration statement and to the reference to my name under the heading "Legal Matters" in the prospectus contained in said registration statement. In giving this consent I do not thereby admit that I come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the Rules and Regulations of the Securities and Exchange Commission thereunder. Sincerely, /s/Kimberly J. Smith - --------------------- 1475 Dunwoody Drive Tel: 610-425-3427 West Chester, PA 19380-1478 Fax: 610-425-3735 EX-99.B10A 4 eyconsent.txt AUDITOR CONSENT Exhibit 10(a) - Consent of Ernst and Young LLP, Independent Auditors We consent to the reference to our firm under the captions "Independent Auditors" and "Experts" and to the use of our report dated March 21, 2003, with respect to the consolidated financial statements of Golden American Life Insurance Company as of December 31, 2002 and 2001 and for each of the three years in the period ended December 31, 2002, and to the use of our report dated March 14, 2003, with respect to the statement of assets and liabilities of Golden American Life Insurance Company Separate Account B as of December 31, 2002 and the related statement of operations for the year then ended, and the statements of changes in net assets for each of the two years in the period then ended, incorporated by reference into Post-Effective Amendment No. 12 to the Registration Statement under the Securities Act of 1933 (Form N-4 No. 333-30180) and the related Prospectus and Statement of Additional Information of Golden American Life Insurance Company Separate Account B. Our audits (to which the date of our report is March 21, 2003) also included the financial statement schedules of Golden American Life Insurance Company included in Item 24(a)(2). These schedules are the responsibility of the Company's management. Our responsibility is to express an opinion based on our audits. In our opinion, the financial statement schedules referred to above, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly in all material respects the information set forth therein. /s/Ernst & Young LLP Atlanta, Georgia August 13, 2003 -----END PRIVACY-ENHANCED MESSAGE-----