TABLE OF CONTENTS

PACIFIC SELECT FUND

Letter to Shareholders	A-1
Performance Discussion	A-3
Schedules of Investments	B-1
Financial Statements:
Statements of Assets and Liabilities	C-1
Statements of Operations	C-7
Statements of Changes in Net Assets	C-13
Statement of Cash Flows	C-19
Financial Highlights	C-20
Notes to Financial Statements	D-1
Report of Independent Registered Public Accounting Firm	E-1
Disclosure of Fund Expenses	F-1
Trustees and Officers Information	F-3
Approval of Investment Advisory Agreement and Portfolio Management Agreements	F-7
Special Meetings of Shareholders	F-13
Where to Go for More Information	F-14

The 2010 Annual Report for the American Funds^® Insurance Series (“AFIS”) will be mailed separately to all Pacific Life Insurance Company and Pacific Life & Annuity Company variable life insurance policyholders and variable annuity contract owners with allocations to the American Funds Growth, American Funds Growth-Income and American Funds Asset Allocation Portfolios of the Pacific Select Fund (“PSF”). For those policyholders and contract owners, the AFIS Annual Report should be read in conjunction with the PSF Annual Report included herein.

SEPARATE ACCOUNT A
Schedule of Investments	G-1
Financial Statements:
Statements of Assets and Liabilities	H-1
Statements of Operations	H-6
Statements of Changes in Net Assets	H-10
Financial Highlights	H-21
Notes to Financial Statements	I-1
Report of Independent Registered Public Accounting Firm	J-1

The 2010 Annual Reports for all underlying investment options other than Pacific Select Fund may be mailed separately to Pacific Life Insurance Company variable annuity contract owners with allocations to those options and should be read in conjunction with the Separate Account Annual Report included herein.

SEPARATE ACCOUNT A

SCHEDULE OF INVESTMENTS
DECEMBER 31, 2010
(in thousands)

Variable Accounts	Underlying Portfolios/Funds	Shares		Cost		Value
	Pacific Select Fund (Affiliated Mutual Fund)
Cash Management	Cash Management		41,791		$420,612		$421,480
Diversified Bond	Diversified Bond		274,391		2,685,637		2,747,857
Floating Rate Loan	Floating Rate Loan		129,654		1,087,072		971,215
High Yield Bond	High Yield Bond		155,692		891,739		997,795
Inflation Managed	Inflation Managed		348,272		3,786,593		4,108,639
Managed Bond	Managed Bond		442,344		4,827,713		5,159,966
Short Duration Bond	Short Duration Bond		152,744		1,444,369		1,443,386
American Funds® Growth	American Funds Growth		103,431		834,161		870,532
American Funds Growth-Income	American Funds Growth-Income		134,283		1,272,712		1,253,728
Comstock	Comstock		234,912		1,965,760		2,023,507
Dividend Growth	Dividend Growth		99,627		910,983		969,697
Equity Index	Equity Index		68,451		1,320,497		1,880,223
Focused 30	Focused 30		7,283		43,716		90,995
Growth LT	Growth LT		64,129		1,056,293		1,273,043
Large-Cap Growth	Large-Cap Growth		215,328		1,046,509		1,275,289
Large-Cap Value	Large-Cap Value		247,284		2,446,336		2,791,054
Long/Short Large-Cap	Long/Short Large-Cap		160,659		1,344,561		1,485,035
Main Street® Core	Main Street Core		58,765		1,005,867		1,140,207
Mid-Cap Equity	Mid-Cap Equity		119,823		1,375,350		1,763,452
Mid-Cap Growth	Mid-Cap Growth		116,346		731,014		1,166,476
Mid-Cap Value	Mid-Cap Value		75,921		745,116		1,086,895
Small-Cap Equity	Small-Cap Equity		70,495		873,433		1,005,146
Small-Cap Growth	Small-Cap Growth		48,554		420,310		575,901
Small-Cap Index	Small-Cap Index		19,684		162,616		228,023
Small-Cap Value	Small-Cap Value		37,005		354,350		507,061
Health Sciences	Health Sciences		6,763		52,059		78,240
Real Estate	Real Estate		34,355		362,150		500,353
Technology	Technology		12,319		40,906		68,109
Emerging Markets	Emerging Markets		89,132		853,224		1,522,605
International Large-Cap	International Large-Cap		325,777		1,897,966		2,161,104
International Small-Cap	International Small-Cap		108,895		878,982		918,860
International Value	International Value		127,227		1,202,250		1,388,704
American Funds Asset Allocation	American Funds Asset Allocation		15,197		178,901		217,313
Pacific Dynamix — Conservative Growth	Pacific Dynamix - Conservative Growth		9,950		115,275		118,463
Pacific Dynamix — Moderate Growth	Pacific Dynamix - Moderate Growth		11,151		130,808		142,641
Pacific Dynamix — Growth	Pacific Dynamix - Growth		6,985		82,559		92,448
	AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. Global Multi-Asset Series II	Invesco V.I. Global Multi-Asset Series II		3,199		41,414		48,524
Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II	Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II		5,446		61,111		71,069
	AllianceBernstein Variable Products Series Fund, Inc.
AllianceBernstein VPS Balanced Wealth	AllianceBernstein VPS Balanced Wealth
Strategy Class B	Strategy Class B		12,101		110,801		137,709
	BlackRock Variable Series Funds, Inc.
BlackRock Capital Appreciation V.I. Class III	BlackRock Capital Appreciation V.I. Class III		54		414		466
BlackRock Global Allocation V.I. Class III	BlackRock Global Allocation V.I. Class III		112,603		1,376,182		1,631,624
	Franklin Templeton Variable Insurance Products Trust
Franklin Templeton VIP Founding Funds	Franklin Templeton VIP Founding Funds
Allocation Class 2	Allocation Class 2		64		462		493
Franklin Templeton VIP Founding Funds	Franklin Templeton VIP Founding Funds
Allocation Class 4	Allocation Class 4		33,436		209,289		257,794
Mutual Global Discovery Securities Class 2	Mutual Global Discovery Securities Class 2		32		626		655
Templeton Global Bond Securities Class 2	Templeton Global Bond Securities Class 2		2		37		37
	GE Investments Funds, Inc.
GE Investments Total Return Class 3	GE Investments Total Return Class 3		9,251		140,291		151,530

See Notes to Financial Statements

G-1

SEPARATE ACCOUNT A
SCHEDULE OF INVESTMENTS (Continued)
DECEMBER 31, 2010
(in thousands)

Variable Accounts	Underlying Portfolios/Funds	Shares		Cost		Value
	Lord Abbett Series Fund, Inc.
Lord Abbett International Core Equity Class VC	Lord Abbett International Core Equity Class VC		23		$339		$365
Lord Abbett Total Return Class VC	Lord Abbett Total Return Class VC		76		1,187		1,157
	MFS® Variable Insurance Trust
MFS Investors Growth Stock Series — Service Class (1)	MFS Investors Growth Stock Series - Service Class		—		1		1
MFS Value Series — Service Class	MFS Value Series - Service Class		49		579		627
	PIMCO Variable Insurance Trust
PIMCO Global Multi-Asset — Advisor Class	PIMCO Global Multi-Asset - Advisor Class		6,719		82,125		85,462
	Prudential Series Fund, Inc.
Jennison	Jennison (Class II)		14		175		331
Value	Value (Class II)		20		275		344
SP International Growth	SP International Growth (Class II)		78		299		399
SP Prudential U.S. Emerging Growth	SP Prudential U.S. Emerging Growth (Class II)		37		228		277
	JPMorgan Insurance Trust
JPMorgan Insurance Trust Core Bond	JPMorgan Insurance Trust Core Bond		89		952		1,030
JPMorgan Insurance Trust Equity Index	JPMorgan Insurance Trust Equity Index		23		204		247
JPMorgan Insurance Trust U.S. Equity	JPMorgan Insurance Trust U.S. Equity		2,547		41,345		39,956
JPMorgan Insurance Trust Mid Cap Value	JPMorgan Insurance Trust Mid Cap Value		22		171		147
JPMorgan Insurance Trust Intrepid Growth	JPMorgan Insurance Trust Intrepid Growth		8		95		124
JPMorgan Insurance Trust Mid Cap Growth	JPMorgan Insurance Trust Mid Cap Growth		8		125		136

(1) The total shares outstanding in full was 112. The cost of and market value of investments in full dollars were $1,171 and $1,210, respectively.

American Funds is a registered trademark of American Funds Distributors, Inc., Main Street is a registered trademark of OppenheimerFunds, Inc., and MFS is a registered trademark of MFS Fund Distributors, Inc.

See Notes to Financial Statements

G-2

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES
DECEMBER 31, 2010
(in thousands, except accumulation unit values)

	Variable Accounts
	Cash		Diversified		Floating		High Yield		Inflation		Managed		Short Duration
	Management		Bond		Rate Loan		Bond		Managed		Bond		Bond
ASSETS
Investments in affiliated mutual funds, at value		$421,480		$2,747,857		$971,215		$997,795		$4,108,639		$5,159,966		$1,443,386
Receivables:
Due from Pacific Life Insurance Company		454		—		—		—		—		—		—
Fund shares redeemed		—		240		177		54		664		719		197
Total Assets		421,934		2,748,097		971,392		997,849		4,109,303		5,160,685		1,443,583
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		—		240		177		46		664		719		191
Fund shares purchased		454		—		—		—		—		—		—
Other		161		325		105		—		316		417		—
Total Liabilities		615		565		282		46		980		1,136		191
NET ASSETS		$421,319		$2,747,532		$971,110		$997,803		$4,108,323		$5,159,549		$1,443,392
NET ASSETS CONSIST OF:
Accumulation units		$420,863		$2,747,012		$970,913		$997,471		$4,107,191		$5,158,023		$1,443,056
Contracts in payout (annuitization) period		456		520		197		332		1,132		1,526		336
NET ASSETS		$421,319		$2,747,532		$971,110		$997,803		$4,108,323		$5,159,549		$1,443,392
Units Outstanding		36,209		244,751		110,822		62,501		239,677		283,102		135,177
Accumulation Unit Value		$9.63 - $13.06		$10.58 - $11.89		$8.60 - $10.50		$11.12 - $18.53		$10.59 - $20.99		$10.64 - $22.37		$10.15 - $11.69
Cost of Investments		$420,612		$2,685,637		$1,087,072		$891,739		$3,786,593		$4,827,713		$1,444,369
	American Funds		American Funds				Dividend		Equity		Focused		Growth
	Growth		Growth-Income		Comstock		Growth		Index		30		LT
ASSETS
Investments in affiliated mutual funds, at value		$870,532		$1,253,728		$2,023,507		$969,697		$1,880,223		$90,995		$1,273,043
Receivables:
Fund shares redeemed		143		492		477		336		492		147		246
Total Assets		870,675		1,254,220		2,023,984		970,033		1,880,715		91,142		1,273,289
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		143		492		477		336		492		147		246
Other		14		87		166		73		199		6		79
Total Liabilities		157		579		643		409		691		153		325
NET ASSETS		$870,518		$1,253,641		$2,023,341		$969,624		$1,880,024		$90,989		$1,272,964
NET ASSETS CONSIST OF:
Accumulation units		$870,347		$1,253,324		$2,022,974		$969,408		$1,879,663		$90,970		$1,272,634
Contracts in payout (annuitization) period		171		317		367		216		361		19		330
NET ASSETS		$870,518		$1,253,641		$2,023,341		$969,624		$1,880,024		$90,989		$1,272,964
Units Outstanding		73,533		119,157		201,104		92,697		135,511		7,203		85,904
Accumulation Unit Value		$9.05 - $13.18		$8.74 - $11.59		$8.45 - $11.76		$8.42 - $11.22		$8.89 - $20.57		$7.88 - $19.33		$8.97 - $23.71
Cost of Investments		$834,161		$1,272,712		$1,965,760		$910,983		$1,320,497		$43,716		$1,056,293

See Notes to Financial Statements

H-1

SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
DECEMBER 31, 2010
(in thousands, except accumulation unit values)

	Variable Accounts
	Large-Cap		Large-Cap		Long/Short		Main Street		Mid-Cap		Mid-Cap		Mid-Cap
	Growth		Value		Large-Cap		Core		Equity		Growth		Value
ASSETS
Investments in affiliated mutual funds, at value		$1,275,289		$2,791,054		$1,485,035		$1,140,207		$1,763,452		$1,166,476		$1,086,895
Receivables:
Fund shares redeemed		509		377		336		370		695		413		46
Total Assets		1,275,798		2,791,431		1,485,371		1,140,577		1,764,147		1,166,889		1,086,941
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		509		377		336		370		695		413		46
Other		24		128		193		29		41		125		138
Total Liabilities		533		505		529		399		736		538		184
NET ASSETS		$1,275,265		$2,790,926		$1,484,842		$1,140,178		$1,763,411		$1,166,351		$1,086,757
NET ASSETS CONSIST OF:
Accumulation units		$1,275,024		$2,790,327		$1,484,623		$1,139,572		$1,762,914		$1,166,176		$1,086,605
Contracts in payout (annuitization) period		241		599		219		606		497		175		152
NET ASSETS		$1,275,265		$2,790,926		$1,484,842		$1,140,178		$1,763,411		$1,166,351		$1,086,757
Units Outstanding		176,154		246,305		163,658		89,261		100,438		102,177		69,489
Accumulation Unit Value		$6.37 - 11.36		$8.44 - $13.16		$8.87 - $10.97		$8.91 - $17.17		$9.37 - $22.41		$9.91 - $14.17		$11.64 - $15.94
Cost of Investments		$1,046,509		$2,446,336		$1,344,561		$1,005,867		$1,375,350		$731,014		$745,116
	Small-Cap		Small-Cap		Small-Cap		Small-Cap		Health		Real
	Equity		Growth		Index		Value		Sciences		Estate		Technology
ASSETS
Investments in affiliated mutual funds, at value		$1,005,146		$575,901		$228,023		$507,061		$78,240		$500,353		$68,109
Receivables:
Due from Pacific Life Insurance Company		—		—		—		35		—		—		34
Fund shares redeemed		316		87		328		—		120		55		—
Total Assets		1,005,462		575,988		228,351		507,096		78,360		500,408		68,143
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		316		87		306		—		120		55		—
Fund shares purchased		—		—		—		31		—		—		34
Other		129		38		—		—		4		15		6
Total Liabilities		445		125		306		31		124		70		40
NET ASSETS		$1,005,017		$575,863		$228,045		$507,065		$78,236		$500,338		$68,103
NET ASSETS CONSIST OF:
Accumulation units		$1,004,893		$575,684		$227,899		$506,877		$78,218		$500,087		$68,095
Contracts in payout (annuitization) period		124		179		146		188		18		251		8
NET ASSETS		$1,005,017		$575,863		$228,045		$507,065		$78,236		$500,338		$68,103
Units Outstanding		68,546		46,036		14,121		25,650		5,377		22,895		9,239
Accumulation Unit Value		$10.98 - $16.40		$10.53 - $13.74		$9.54 - $17.07		$10.64 - $24.59		$11.48 - $16.98		$7.52 - $32.20		$5.77 - $11.91
Cost of Investments		$873,433		$420,310		$162,616		$354,350		$52,059		$362,150		$40,906

See Notes to Financial Statements

H-2

SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
DECEMBER 31, 2010
(in thousands, except accumulation unit values)

	Variable Accounts
											Pacific		Pacific
											Dynamix -		Dynamix -
	Emerging		International		International		International		American Funds		Conservative		Moderate
	Markets		Large-Cap		Small-Cap		Value		Asset Allocation		Growth		Growth
ASSETS
Investments in affiliated mutual funds, at value		$1,522,605		$2,161,104		$918,860		$1,388,704		$217,313		$118,463		$142,641
Receivables:
Due from Pacific Life Insurance Company		387		—		—		—		—		82		127
Fund shares redeemed		348		511		325		193		27		—		—
Total Assets		1,523,340		2,161,615		919,185		1,388,897		217,340		118,545		142,768
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		—		507		325		89		27		—		—
Fund shares purchased		—		—		—		—		—		82		127
Other		—		—		96		—		12		8		7
Total Liabilities		—		507		421		89		39		90		134
NET ASSETS		$1,523,340		$2,161,108		$918,764		$1,388,808		$217,301		$118,455		$142,634
NET ASSETS CONSIST OF:
Accumulation units		$1,522,947		$2,160,653		$918,623		$1,388,439		$217,301		$118,455		$142,634
Contracts in payout (annuitization) period		393		455		141		369		—		—		—
NET ASSETS		$1,523,340		$2,161,108		$918,764		$1,388,808		$217,301		$118,455		$142,634
Units Outstanding		47,306		186,193		108,088		135,322		15,364		9,640		10,923
Accumulation Unit Value		$11.76 - $58.68		$9.09 - $17.08		$8.20 - $12.01		$6.67 - $12.25		$14.00 - $14.43		$10.76 - $12.52		$10.91 - $13.30
Cost of Investments		$853,224		$1,897,966		$878,982		$1,202,250		$178,901		$115,275		$130,808
	Pacific
	Dynamix -
	Growth
ASSETS
Investments in affiliated mutual funds, at value		$92,448
Receivables:
Due from Pacific Life Insurance Company		845
Total Assets		93,293
LIABILITIES
Payables:
Fund shares purchased		845
Other		5
Total Liabilities		850
NET ASSETS		$92,443
NET ASSETS CONSIST OF:
Accumulation units		$92,443
Contracts in payout (annuitization) period		—
NET ASSETS		$92,443
Units Outstanding		6,694
Accumulation Unit Value		$11.09 - $14.06
Cost of Investments		$82,559

See Notes to Financial Statements

H-3

SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
DECEMBER 31, 2010
(in thousands, except accumulation unit values)

	Variable Accounts
			Invesco
			Van Kampen								Franklin		Franklin
	Invesco V.I.		V.I. Global		AllianceBernstein		BlackRock				Templeton VIP		Templeton VIP
	Global		Tactical Asset		VPS Balanced		Capital		BlackRock		Founding Funds		Founding Funds
	Multi-Asset		Allocation		Wealth Strategy		Appreciation		Global Allocation		Allocation		Allocation
	Series II		Series II		Class B		V.I. Class III		V.I. Class III		Class 2		Class 4
ASSETS
Investments in mutual funds, at value		$48,524		$71,069		$137,709		$466		$1,631,624		$493		$257,794
Receivables:
Due from Pacific Life Insurance Company		36		—		14		—		192		—		7
Fund shares redeemed		—		103		—		3		—		—		—
Total Assets		48,560		71,172		137,723		469		1,631,816		493		257,801
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		—		103		—		3		—		—		—
Fund shares purchased		36		—		14		—		192		—		7
Other		3		16		8		—		101		—		14
Total Liabilities		39		119		22		3		293		—		21
NET ASSETS		$48,521		$71,053		$137,701		$466		$1,631,523		$493		$257,780
NET ASSETS CONSIST OF:
Accumulation units		$48,521		$71,053		$137,701		$466		$1,631,520		$493		$257,780
Contracts in payout (annuitization) period		—		—		—		—		3		—		—
NET ASSETS		$48,521		$71,053		$137,701		$466		$1,631,523		$493		$257,780
Units Outstanding		3,316		5,240		14,622		38		160,465		46		28,087
Accumulation Unit Value		$10.82 - $14.95		$10.73 - $13.86		$9.27 - $10.79		$12.34 - $12.36		$10.01 - $10.77		$10.76 - $10.78		$9.03 - $9.46
Cost of Investments		$41,414		$61,111		$110,801		$414		$1,376,182		$462		$209,289
	Mutual Global		Templeton		GE		Lord Abbett				MFS Investors
	Discovery		Global Bond		Investments		International		Lord Abbett		Growth Stock		MFS Value
	Securities		Securities		Total Return		Core Equity		Total Return		Series -		Series -
	Class 2		Class 2		Class 3		Class VC		Class VC		Service Class(1)		Service Class
ASSETS
Investments in mutual funds, at value		$655		$37		$151,530		$365		$1,157		$1		$627
Receivables:
Due from Pacific Life Insurance Company		1		—		—		—		4		—		—
Fund shares redeemed		—		—		64		—		—		—		1
Total Assets		656		37		151,594		365		1,161		1		628
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		—		—		64		—		—		—		1
Fund shares purchased		1		—		—		—		4		—		—
Other		—		—		12		—		—		—		—
Total Liabilities		1		—		76		—		4		—		1
NET ASSETS		$655		$37		$151,518		$365		$1,157		$1		$627
NET ASSETS CONSIST OF:
Accumulation units		$655		$37		$151,518		$365		$1,157		$1		$627
Contracts in payout (annuitization) period		—		—		—		—		—		—		—
NET ASSETS		$655		$37		$151,518		$365		$1,157		$1		$627
Units Outstanding		58		3		11,244		30		112		—		54
Accumulation Unit Value		$11.31 - $11.32		$10.99 - $11.00		$10.70 - $13.75		$12.13 - $12.14		$10.34 - $10.35		$11.85 - $11.85		$11.57 - $11.58
Cost of Investments		$626		$37		$140,291		$339		$1,187		$1		$579

(1) The market value and net assets in full dollars were both $1,210 at December 31, 2010. Total units outstanding in full was 102 and cost of investments in full dollars was $1,171.

See Notes to Financial Statements

H-4

SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
DECEMBER 31, 2010
(in thousands, except accumulation unit values)

	Variable Accounts
	PIMCO Global						SP		SP Prudential		JPMorgan		JPMorgan
	Multi-Asset -						International		U.S. Emerging		Insurance Trust		Insurance Trust
	Advisor Class		Jennison		Value		Growth		Growth		Core Bond		Equity Index
ASSETS
Investments in mutual funds, at value		$85,462		$331		$344		$399		$277		$1,030		$247
Receivables:
Due from Pacific Life Insurance Company		59		—		—		—		—		28		—
Total Assets		85,521		331		344		399		277		1,058		247
LIABILITIES
Payables:
Fund shares purchased		59		—		—		—		—		—		—
Other		7		—		—		—		—		—		—
Total Liabilities		66		—		—		—		—		—		—
NET ASSETS		$85,455		$331		$344		$399		$277		$1,058		$247
NET ASSETS CONSIST OF:
Accumulation units		$85,455		$331		$344		$399		$277		$1,057		$247
Contracts in payout (annuitization) period		—		—		—		—		—		1		—
NET ASSETS		$85,455		$331		$344		$399		$277		$1,058		$247
Units Outstanding		7,983		29		26		29		16		80		22
Accumulation Unit Value		$10.67 - $10.79		$11.53 - $11.92		$13.30 - $13.74		$13.63 - $14.08		$17.04 - $17.60		$12.99 - $13.17		$11.13 - $11.28
Cost of Investments		$82,125		$175		$275		$299		$228		$952		$204
					JPMorgan
	JPMorgan		JPMorgan		Insurance Trust		JPMorgan
	Insurance Trust		Insurance Trust		Intrepid		Insurance Trust
	U.S. Equity		Mid Cap Value		Growth		Mid Cap Growth
ASSETS
Investments in mutual funds, at value		$39,956		$147		$124		$136
Receivables:
Due from Pacific Life Insurance Company		—		17		11		—
Fund shares redeemed		7		—		—		—
Total Assets		39,963		164		135		136
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		7		—		—		—
Other		5		—		—		—
Total Liabilities		12		—		—		—
NET ASSETS		$39,951		$164		$135		$136
NET ASSETS CONSIST OF:
Accumulation units		$39,940		$164		$134		$136
Contracts in payout (annuitization) period		11		—		1		—
NET ASSETS		$39,951		$164		$135		$136
Units Outstanding		3,173		12		12		9
Accumulation Unit Value		$12.44 - $12.61		$13.17 - $13.35		$11.09 - $11.23		$14.17 - $14.36
Cost of Investments		$41,345		$171		$95		$125

See Notes to Financial Statements

H-5

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2010
(in thousands)

	Variable Accounts
	Cash			Diversified			Floating			High Yield			Inflation			Managed			Short Duration
	Management			Bond			Rate Loan			Bond			Managed			Bond			Bond
INVESTMENT INCOME
Dividends from affiliated mutual fund investments		$26			$80,130			$45,218			$74,712			$82,807			$179,622			$21,935
EXPENSES
Mortality and expense risk		6,793			33,665			12,658			12,847			54,951			64,737			19,098
Administrative fees		961			4,836			1,824			1,827			7,845			9,222			2,750
Total Expenses		7,754			38,501			14,482			14,674			62,796			73,959			21,848
Net Investment Income (Loss)		(7,728	)		41,629			30,736			60,038			20,011			105,663			87
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of affiliated mutual fund investments		122			(5,685	)		(38,910	)		(3,889	)		4,688			5,316			(4,183	)
Capital gain distributions from affiliated mutual fund investments		—			—			—			—			—			—			—
Realized Gain (Loss)		122			(5,685	)		(38,910	)		(3,889	)		4,688			5,316			(4,183	)
CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON AFFILIATED MUTUAL FUND INVESTMENTS		(436	)		115,472			59,996			60,880			256,862			219,425			28,776
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS		($8,042	)		$151,416			$51,822			$117,029			$281,561			$330,404			$24,680
	American Funds			American Funds						Dividend			Equity			Focused			Growth
	Growth			Growth-Income			Comstock			Growth			Index			30			LT
INVESTMENT INCOME
Dividends from affiliated mutual fund investments (1)		$23			$—			$23,627			$8,261			$35,359			$—			$13,307
EXPENSES
Mortality and expense risk		10,657			16,347			25,285			9,723			28,831			1,354			16,135
Administrative fees		1,516			2,326			3,608			1,376			4,072			185			2,240
Total Expenses		12,173			18,673			28,893			11,099			32,903			1,539			18,375
Net Investment Income (Loss)		(12,150	)		(18,673	)		(5,266	)		(2,838	)		2,456			(1,539	)		(5,068	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of affiliated mutual fund investments		(47,508	)		(91,903	)		(93,951	)		(11,934	)		(11,749	)		13,663			(18,290	)
Capital gain distributions from affiliated mutual fund investments		—			—			—			—			—			—			—
Realized Gain (Loss)		(47,508	)		(91,903	)		(93,951	)		(11,934	)		(11,749	)		13,663			(18,290	)
CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON AFFILIATED MUTUAL FUND INVESTMENTS		183,931			223,190			348,321			72,918			305,792			(5,941	)		133,991
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$124,273			$112,614			$249,104			$58,146			$296,499			$6,183			$110,633
	Large-Cap			Large-Cap			Long/Short			Main Street			Mid-Cap			Mid-Cap			Mid-Cap
	Growth			Value			Large-Cap			Core			Equity			Growth			Value
INVESTMENT INCOME
Dividends from affiliated mutual fund investments		$—			$41,216			$11,353			$8,593			$15,862			$1,940			$10,393
EXPENSES
Mortality and expense risk		15,606			36,568			18,322			13,499			22,046			14,008			13,304
Administrative fees		2,224			5,199			2,622			1,898			3,119			1,987			1,902
Total Expenses		17,830			41,767			20,944			15,397			25,165			15,995			15,206
Net Investment Loss		(17,830	)		(551	)		(9,591	)		(6,804	)		(9,303	)		(14,055	)		(4,813	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of affiliated mutual fund investments		(42,374	)		(121,387	)		(22,861	)		(30,202	)		(14,628	)		(21,023	)		15,741
Capital gain distributions from affiliated mutual fund investments		—			—			—			—			—			—			—
Realized Gain (Loss)		(42,374	)		(121,387	)		(22,861	)		(30,202	)		(14,628	)		(21,023	)		15,741
CHANGE IN UNREALIZED APPRECIATION ON AFFILIATED MUTUAL FUND INVESTMENTS		206,842			326,853			174,572			179,025			357,187			326,382			174,825
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$146,638			$204,915			$142,120			$142,019			$333,256			$291,304			$185,753

(1) The dividends for American Funds Growth-Income Variable Account in full dollars were less than $500 for the year and are not shown above due to rounding.

See Notes to Financial Statements

H-6

SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (Continued)
FOR THE YEAR ENDED DECEMBER 31, 2010
(in thousands)

	Variable Accounts
	Small-Cap			Small-Cap			Small-Cap			Small-Cap			Health			Real
	Equity			Growth			Index			Value			Sciences			Estate			Technology
INVESTMENT INCOME
Dividends from affiliated mutual fund investments		$6,204			$—			$1,737			$9,672			$—			$6,399			$—
EXPENSES
Mortality and expense risk		10,897			6,961			2,792			6,699			938			6,463			816
Administrative fees		1,559			984			371			954			130			911			114
Total Expenses		12,456			7,945			3,163			7,653			1,068			7,374			930
Net Investment Income (Loss)		(6,252	)		(7,945	)		(1,426	)		2,019			(1,068	)		(975	)		(930	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of affiliated mutual fund investments		(5,455	)		(7,690	)		616			2,213			849			(19,211	)		1,066
Capital gain distributions from affiliated mutual fund investments		—			—			—			—			—			—			—
Realized Gain (Loss)		(5,455	)		(7,690	)		616			2,213			849			(19,211	)		1,066
CHANGE IN UNREALIZED APPRECIATION ON AFFILIATED MUTUAL FUND INVESTMENTS		142,567			132,449			46,034			110,508			13,285			146,856			10,103
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$130,860			$116,814			$45,224			$114,740			$13,066			$126,670			$10,239
																Pacific Dynamix -			Pacific Dynamix -
	Emerging			International			International			International			American Funds			Conservative			Moderate
	Markets			Large-Cap			Small-Cap			Value			Asset Allocation			Growth			Growth
INVESTMENT INCOME
Dividends from affiliated mutual fund investments		$15,071			$22,464			$21,195			$36,932			$—			$1,983			$2,168
EXPENSES
Mortality and expense risk		18,387			27,873			10,903			19,531			2,192			657			1,177
Administrative fees		2,603			3,966			1,560			2,767			327			103			179
Total Expenses		20,990			31,839			12,463			22,298			2,519			760			1,356
Net Investment Income (Loss)		(5,919	)		(9,375	)		8,732			14,634			(2,519	)		1,223			812
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized loss on sale of affiliated mutual fund investments		(23,804	)		(84,446	)		(49,807	)		(172,587	)		(1,127	)		(185	)		(342	)
Capital gain distributions from affiliated mutual fund investments		—			—			—			—			—			2,228			1,942
Realized Gain (Loss)		(23,804	)		(84,446	)		(49,807	)		(172,587	)		(1,127	)		2,043			1,600
CHANGE IN UNREALIZED APPRECIATION ON AFFILIATED MUTUAL FUND INVESTMENTS		339,579			263,085			216,726			159,080			22,424			2,153			8,309
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$309,856			$169,264			$175,651			$1,127			$18,778			$5,419			$10,721
	Pacific Dynamix -
	Growth
INVESTMENT INCOME
Dividends from affiliated mutual fund investments		$1,024
EXPENSES
Mortality and expense risk		782
Administrative fees		115
Total Expenses		897
Net Investment Income		127
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized loss on sale of affiliated mutual fund investments		(793	)
Capital gain distributions from affiliated mutual fund investments		2,483
Realized Gain		1,690
CHANGE IN UNREALIZED APPRECIATION ON AFFILIATED MUTUAL FUND INVESTMENTS		6,374
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$8,191

See Notes to Financial Statements

H-7

SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (Continued)
FOR THE YEAR ENDED DECEMBER 31, 2010
(in thousands)

	Variable Accounts
	Invesco V.I.			Invesco Van			AllianceBernstein			BlackRock						Franklin
	Global			Kampen V.I. Global			VPS Balanced			Capital			BlackRock			Templeton VIP
	Multi-Asset			Tactical Asset			Wealth Strategy			Appreciation			Global Allocation			Founding Funds
	Series II			Allocation Series II			Class B			V.I. Class III(1)			V.I. Class III			Allocation Class 2(1)
INVESTMENT INCOME
Dividends from mutual fund investments		$153			$145			$2,946			$1			$17,173			$9
EXPENSES
Mortality and expense risk		535			923			1,532			1			20,228			1
Administrative fees		80			141			235			—			3,067			—
Total Expenses		615			1,064			1,767			1			23,295			1
Net Investment Income (Loss)		(462	)		(919	)		1,179			(—	)		(6,122	)		8
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized loss on sale of mutual fund investments		(427	)		(2,217	)		(839	)		(1	)		(16,466	)		(1	)
Capital gain distributions from mutual fund investments		—			1,061			—			—			9,328			1
Realized Gain (Loss)		(427	)		(1,156	)		(839	)		(1	)		(7,138	)		(—	)
CHANGE IN UNREALIZED APPRECIATION ON MUTUAL FUND INVESTMENTS		4,501			5,964			9,855			52			129,876			31
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$3,612			$3,889			$10,195			$51			$116,616			$39
	Franklin			Mutual Global			Templeton			GE			Lord Abbett
	Templeton VIP			Discovery			Global Bond			Investments			International			Lord Abbett
	Founding Funds			Securities			Securities			Total Return			Core Equity			Total Return
	Allocation Class 4			Class 2(1)			Class 2(1)			Class 3			Class VC(1)			Class VC(1)
INVESTMENT INCOME
Dividends from mutual fund investments		$5,142			$3			$—			$1,717			$1			$17
EXPENSES
Mortality and expense risk		3,098			1			—			1,241			1			2
Administrative fees		471			—			—			188			—			—
Total Expenses		3,569			1			—			1,429			1			2
Net Investment Income (Loss)		1,573			2			(—	)		288			—			15
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of mutual fund investments		(4,099	)		(1	)		—			(316	)		1			—
Capital gain distributions from mutual fund investments		19			—			—			—			—			17
Realized Gain (Loss)		(4,080	)		(1	)		—			(316	)		1			17
CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON AFFILIATED MUTUAL FUND INVESTMENTS		21,920			29			1			10,941			26			(30	)
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$19,413			$30			$1			$10,913			$27			$2
	MFS Investors
	Growth Stock			MFS Value			PIMCO Global									SP
	Series -			Series -			Multi-Asset -									International
	Service Class(1),(3)			Service Class(1)			Advisor Class(1)			Jennison			Value			Growth
INVESTMENT INCOME
Dividends from mutual fund investments (2)		$—			$—			$1,597			$—			$1			$4
EXPENSES
Mortality and expense risk		—			1			361			5			5			5
Administrative fees		—			—			56			1			1			1
Total Expenses		—			1			417			6			6			6
Net Investment Income (Loss)		(—	)		(1	)		1,180			(6	)		(5	)		(2	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of mutual fund investments		—			(—	)		(145	)		40			4			(4	)
Capital gain distributions from mutual fund investments		—			—			208			—			—			—
Realized Gain (Loss)		—			(—	)		63			40			4			(4	)
CHANGE IN UNREALIZED APPRECIATION DEPRECIATION ON AFFILIATED MUTUAL FUND INVESTMENTS		—			48			3,337			(9	)		35			49
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS		$—			$47			$4,580			$25			$34			$43

(1)	Operations commenced during 2010 (See Note 1 in Notes to Financial Statements).
(2)	The dividends for Jennison Variable Account in full dollars was less than $500 for the year and is not shown above due to rounding.
(3)	The mortality and expense risk expense and net investment loss in full dollars were both $1. Change in unrealized appreciation on investments in full dollars was $39, and net increase in net assets resulting from operations in full dollars was $38 during the period.

See Notes to Financial Statements

H-8

SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (Continued)
FOR THE YEAR ENDED DECEMBER 31, 2010
(in thousands)

	Variable Accounts
															JPMorgan
	SP Prudential			JPMorgan		JPMorgan			JPMorgan			JPMorgan			Insurance Trust
	U.S. Emerging			Insurance Trust		Insurance Trust			Insurance Trust			Insurance Trust			Intrepid
	Growth			Core Bond		Equity Index			U.S. Equity			Mid Cap Value			Growth
INVESTMENT INCOME
Dividends from mutual fund investments		$1			$46		$5			$440			$2			$1
EXPENSES
Mortality and expense risk		4			15		3			533			2			2
Administrative fees		—			2		—			63			—			—
Total Expenses		4			17		3			596			2			2
Net Investment Income (Loss)		(3	)		29		2			(156	)		(—	)		(1	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of mutual fund investments		(4	)		16		(1	)		(3,905	)		(35	)		(—	)
Capital gain distributions from mutual fund investments		—			—		—			—			—			—
Realized Gain (Loss)		(4	)		16		(1	)		(3,905	)		(35	)		(—	)
CHANGE IN UNREALIZED APPRECIATION ON MUTUAL FUND INVESTMENTS		49			46		28			8,997			64			15
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$42			$91		$29			$4,936			$29			$14
	JPMorgan
	Insurance Trust
	Mid Cap Growth
INVESTMENT INCOME
Dividends from mutual fund investments		$—
EXPENSES
Mortality and expense risk		2
Administrative fees		—
Total Expenses		2
Net Investment Loss		(2	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized loss on sale of mutual fund investments		(4	)
Capital gain distributions from mutual fund investments		—
Realized Loss		(4	)
CHANGE IN UNREALIZED APPRECIATION ON MUTUAL FUND INVESTMENTS		32
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$26

See Notes to Financial Statements

H-9

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS

(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Cash Management						Diversified Bond						Floating Rate Loan
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($7,728	)		($10,435	)		$41,629			$36,708			$30,736			$25,019
Realized gain (loss)		122			(734	)		(5,685	)		(35,276	)		(38,910	)		(25,658	)
Change in unrealized appreciation (depreciation) on investments		(436	)		632			115,472			205,021			59,996			152,667
Net Increase (Decrease) in Net Assets Resulting from Operations		(8,042	)		(10,537	)		151,416			206,453			51,822			152,028
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		50,394			59,120			85,673			88,972			36,840			40,332
Transfers between variable and fixed accounts, net		82,579			(102,057	)		860,731			47,293			103,665			158,084
Contract charges and deductions		(26,158	)		(30,130	)		(42,684	)		(29,359	)		(17,410	)		(12,847	)
Surrenders		(261,467	)		(346,747	)		(236,953	)		(133,908	)		(96,353	)		(61,200	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		2			1			(8	)		2			(4	)		1
Other		(15	)		62			(135	)		(29	)		(21	)		(27	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(154,665	)		(419,751	)		666,624			(27,029	)		26,717			124,343
NET INCREASE (DECREASE) IN NET ASSETS		(162,707	)		(430,288	)		818,040			179,424			78,539			276,371
NET ASSETS
Beginning of Year		584,026			1,014,314			1,929,492			1,750,068			892,571			616,200
End of Year		$421,319			$584,026			$2,747,532			$1,929,492			$971,110			$892,571
	High Yield Bond						Inflation Managed						Managed Bond
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income		$60,038			$52,919			$20,011			$89,864			$105,663			$188,058
Realized gain (loss)		(3,889	)		(26,027	)		4,688			72,208			5,316			228,885
Change in unrealized appreciation on investments		60,880			212,472			256,862			462,073			219,425			218,344
Net Increase in Net Assets Resulting from Operations		117,029			239,364			281,561			624,145			330,404			635,287
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		36,368			35,978			139,341			172,847			165,978			166,265
Transfers between variable and fixed accounts, net		9,958			222,237			277,602			(182,084	)		1,235,532			(45,686	)
Contract charges and deductions		(17,819	)		(12,609	)		(73,173	)		(60,951	)		(84,565	)		(61,821	)
Surrenders		(101,373	)		(66,474	)		(389,278	)		(282,187	)		(471,536	)		(298,620	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(1	)		2			(1	)		9			(7	)		6
Other		(33	)		(12	)		(71	)		(38	)		(201	)		(42	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(72,900	)		179,122			(45,580	)		(352,404	)		845,201			(239,898	)
NET INCREASE IN NET ASSETS		44,129			418,486			235,981			271,741			1,175,605			395,389
NET ASSETS
Beginning of Year		953,674			535,188			3,872,342			3,600,601			3,983,944			3,588,555
End of Year		$997,803			$953,674			$4,108,323			$3,872,342			$5,159,549			$3,983,944

See Notes to Financial Statements

H-10

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Short Duration Bond						American Funds Growth						American Funds Growth-Income
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$87			$18,035			($12,150	)		($12,061	)		($18,673	)		($3,323	)
Realized gain (loss)		(4,183	)		(36,255	)		(47,508	)		(242,654	)		(91,903	)		58,935
Change in unrealized appreciation on investments		28,776			103,383			183,931			507,469			223,190			247,488
Net Increase in Net Assets Resulting from Operations		24,680			85,163			124,273			252,754			112,614			303,100
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		52,035			65,652			29,310			48,923			41,535			59,106
Transfers between variable and fixed accounts, net		228,986			(159,269	)		(22,388	)		(488,892	)		(139,679	)		34,844
Contract charges and deductions		(26,025	)		(24,451	)		(11,354	)		(12,275	)		(17,669	)		(16,588	)
Surrenders		(147,161	)		(109,190	)		(65,882	)		(54,752	)		(100,123	)		(70,269	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(6	)		2			—			—			—			—
Other		(24	)		48			3			51			8			(44	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		107,805			(227,208	)		(70,311	)		(506,945	)		(215,928	)		7,049
NET INCREASE (DECREASE) IN NET ASSETS		132,485			(142,045	)		53,962			(254,191	)		(103,314	)		310,149
NET ASSETS
Beginning of Year		1,310,907			1,452,952			816,556			1,070,747			1,356,955			1,046,806
End of Year		$1,443,392			$1,310,907			$870,518			$816,556			$1,253,641			$1,356,955
	Comstock						Dividend Growth						Equity Index
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($5,266	)		($883	)		($2,838	)		($531	)		$2,456			$11,973
Realized loss		(93,951	)		(88,395	)		(11,934	)		(194,665	)		(11,749	)		(84,682	)
Change in unrealized appreciation on investments		348,321			514,459			72,918			294,828			305,792			693,823
Net Increase in Net Assets Resulting from Operations		249,104			425,181			58,146			99,632			296,499			621,114
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		58,998			74,932			21,800			20,012			66,528			94,005
Transfers between variable and fixed accounts, net		(44,398	)		197,674			545,282			(273,316	)		(1,232,296	)		1,269,999
Contract charges and deductions		(27,868	)		(22,861	)		(11,218	)		(6,357	)		(32,531	)		(33,035	)
Surrenders		(154,065	)		(96,597	)		(59,948	)		(27,999	)		(179,190	)		(136,236	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			1			—			—			—			1
Other		(23	)		(57	)		(71	)		20			106			(205	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(167,356	)		153,092			495,845			(287,640	)		(1,377,383	)		1,194,529
NET INCREASE (DECREASE) IN NET ASSETS		81,748			578,273			553,991			(188,008	)		(1,080,884	)		1,815,643
NET ASSETS
Beginning of Year		1,941,593			1,363,320			415,633			603,641			2,960,908			1,145,265
End of Year		$2,023,341			$1,941,593			$969,624			$415,633			$1,880,024			$2,960,908

See Notes to Financial Statements

H-11

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Focused 30						Growth LT						Large-Cap Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment loss		($1,539	)		($2,630	)		($5,068	)		($4,825	)		($17,830	)		($12,496	)
Realized gain (loss)		13,663			(167,457	)		(18,290	)		(69,198	)		(42,374	)		(48,672	)
Change in unrealized appreciation (depreciation) on investments		(5,941	)		236,297			133,991			404,604			206,842			378,987
Net Increase in Net Assets Resulting from Operations		6,183			66,210			110,633			330,581			146,638			317,819
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		4,426			9,542			35,351			44,167			36,011			38,449
Transfers between variable and fixed accounts, net		(26,129	)		(225,788	)		(9,824	)		23,802			9,128			438,395
Contract charges and deductions		(1,398	)		(2,352	)		(20,534	)		(17,326	)		(18,019	)		(12,568	)
Surrenders		(15,903	)		(15,481	)		(100,607	)		(69,167	)		(99,412	)		(55,577	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			1			1			(1	)		—
Other		5			18			66			(27	)		(2	)		(54	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(38,999	)		(234,061	)		(95,547	)		(18,550	)		(72,295	)		408,645
NET INCREASE (DECREASE) IN NET ASSETS		(32,816	)		(167,851	)		15,086			312,031			74,343			726,464
NET ASSETS
Beginning of Year		123,805			291,656			1,257,878			945,847			1,200,922			474,458
End of Year		$90,989			$123,805			$1,272,964			$1,257,878			$1,275,265			$1,200,922
	Large-Cap Value						Long/Short Large-Cap						Main Street Core
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($551	)		$16,763			($9,591	)		($6,807	)		($6,804	)		($1,387	)
Realized loss		(121,387	)		(86,583	)		(22,861	)		(25,023	)		(30,202	)		(234,583	)
Change in unrealized appreciation on investments		326,853			629,456			174,572			322,778			179,025			480,519
Net Increase in Net Assets Resulting from Operations		204,915			559,636			142,120			290,948			142,019			244,549
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		86,127			108,645			44,285			49,797			29,822			49,885
Transfers between variable and fixed accounts, net		(199,879	)		647,969			46,623			438,959			(10,481	)		(322,115	)
Contract charges and deductions		(42,314	)		(35,397	)		(20,247	)		(14,997	)		(16,678	)		(16,586	)
Surrenders		(232,657	)		(155,626	)		(111,339	)		(62,028	)		(85,528	)		(69,303	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(1	)		1			(1	)		—			1			1
Other		55			(90	)		(29	)		(90	)		32			42
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(388,669	)		565,502			(40,708	)		411,641			(82,832	)		(358,076	)
NET INCREASE (DECREASE) IN NET ASSETS		(183,754	)		1,125,138			101,412			702,589			59,187			(113,527	)
NET ASSETS
Beginning of Year		2,974,680			1,849,542			1,383,430			680,841			1,080,991			1,194,518
End of Year		$2,790,926			$2,974,680			$1,484,842			$1,383,430			$1,140,178			$1,080,991

See Notes to Financial Statements

H-12

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Mid-Cap Equity						Mid-Cap Growth						Mid-Cap Value(1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment loss		($9,303	)		($10,636	)		($14,055	)		($9,434	)		($4,813	)		($3,346	)
Realized gain (loss)		(14,628	)		(1,249,405	)		(21,023	)		(42,581	)		15,741			76,708
Change in unrealized appreciation on investments		357,187			1,773,431			326,382			420,567			174,825			166,954
Net Increase in Net Assets Resulting from Operations		333,256			513,390			291,304			368,552			185,753			240,316
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		46,719			86,508			32,493			35,492			33,624			26,489
Transfers between variable and fixed accounts, net		(127,573	)		(1,217,706	)		(107,358	)		191,587			(46,556	)		782,816
Contract charges and deductions		(24,819	)		(26,193	)		(14,934	)		(11,401	)		(14,324	)		(8,299	)
Surrenders		(142,622	)		(117,878	)		(90,012	)		(53,417	)		(78,729	)		(34,189	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(1	)		1			—			—			—			—
Other		19			132			15			(65	)		(19	)		(125	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(248,277	)		(1,275,136	)		(179,796	)		162,196			(106,004	)		766,692
NET INCREASE (DECREASE) IN NET ASSETS		84,979			(761,746	)		111,508			530,748			79,749			1,007,008
NET ASSETS
Beginning of Year or Period		1,678,432			2,440,178			1,054,843			524,095			1,007,008			—
End of Year or Period		$1,763,411			$1,678,432			$1,166,351			$1,054,843			$1,086,757			$1,007,008
	Small-Cap Equity						Small-Cap Growth						Small-Cap Index
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment loss		($6,252	)		($4,622	)		($7,945	)		($7,343	)		($1,426	)		($660	)
Realized gain (loss)		(5,455	)		(34,190	)		(7,690	)		(127,659	)		616			(470	)
Change in unrealized appreciation on investments		142,567			183,371			132,449			313,553			46,034			44,838
Net Increase in Net Assets Resulting from Operations		130,860			144,559			116,814			178,551			45,224			43,708
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		24,094			26,197			16,695			22,830			5,968			4,994
Transfers between variable and fixed accounts, net		263,623			(42,927	)		(40,356	)		(126,685	)		(8,833	)		(7,278	)
Contract charges and deductions		(10,627	)		(7,706	)		(7,532	)		(6,842	)		(3,695	)		(2,816	)
Surrenders		(60,519	)		(31,445	)		(41,858	)		(28,534	)		(22,084	)		(18,126	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			1			—
Other		(49	)		(22	)		(9	)		2			36			1
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		216,522			(55,903	)		(73,060	)		(139,229	)		(28,607	)		(23,225	)
NET INCREASE IN NET ASSETS		347,382			88,656			43,754			39,322			16,617			20,483
NET ASSETS
Beginning of Year		657,635			568,979			532,109			492,787			211,428			190,945
End of Year		$1,005,017			$657,635			$575,863			$532,109			$228,045			$211,428

(1) Operations commenced on May 1, 2009.

See Notes to Financial Statements

H-13

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Small-Cap Value						Health Sciences						Real Estate
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$2,019			$5,368			($1,068	)		($835	)		($975	)		$2,371
Realized gain (loss)		2,213			(34,865	)		849			(2,163	)		(19,211	)		(32,652	)
Change in unrealized appreciation on investments		110,508			147,336			13,285			15,519			146,856			155,608
Net Increase in Net Assets Resulting from Operations		114,740			117,839			13,066			12,521			126,670			125,327
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		16,891			21,209			3,753			2,536			14,077			16,996
Transfers between variable and fixed accounts, net		(150,729	)		117,448			8,512			(3,696	)		(91,949	)		17,159
Contract charges and deductions		(7,041	)		(6,329	)		(1,648	)		(1,062	)		(6,742	)		(4,984	)
Surrenders		(42,419	)		(30,132	)		(8,848	)		(6,282	)		(41,526	)		(25,902	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			3			(5	)
Other		14			(19	)		(7	)		(1	)		4			(18	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(183,284	)		102,177			1,762			(8,505	)		(126,133	)		3,246
NET INCREASE (DECREASE) IN NET ASSETS		(68,544	)		220,016			14,828			4,016			537			128,573
NET ASSETS
Beginning of Year		575,609			355,593			63,408			59,392			499,801			371,228
End of Year		$507,065			$575,609			$78,236			$63,408			$500,338			$499,801
	Technology						Emerging Markets						International Large-Cap
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($930	)		($714	)		($5,919	)		($7,146	)		($9,375	)		$1,688
Realized gain (loss)		1,066			(678	)		(23,804	)		86,727			(84,446	)		(167,347	)
Change in unrealized appreciation on investments		10,103			19,783			339,579			613,149			263,085			728,789
Net Increase in Net Assets Resulting from Operations		10,239			18,391			309,856			692,730			169,264			563,130
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,950			3,096			44,603			52,401			63,304			87,531
Transfers between variable and fixed accounts, net		1,880			14,252			(160,749	)		(56,070	)		(155,547	)		(42,744	)
Contract charges and deductions		(878	)		(403	)		(18,999	)		(15,767	)		(30,780	)		(27,244	)
Surrenders		(9,045	)		(5,235	)		(116,455	)		(73,631	)		(174,390	)		(121,092	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			1			1			—			1
Other		2			—			249			288			22			9
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(4,091	)		11,710			(251,350	)		(92,778	)		(297,391	)		(103,539	)
NET INCREASE (DECREASE) IN NET ASSETS		6,148			30,101			58,506			599,952			(128,127	)		459,591
NET ASSETS
Beginning of Year		61,955			31,854			1,464,834			864,882			2,289,235			1,829,644
End of Year		$68,103			$61,955			$1,523,340			$1,464,834			$2,161,108			$2,289,235

See Notes to Financial Statements

H-14

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Periods Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
													American Funds
	International Small-Cap						International Value						Asset Allocation(1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$8,732			($403	)		$14,634			$9,453			($2,519	)		$1,263
Realized loss		(49,807	)		(51,851	)		(172,587	)		(812,250	)		(1,127	)		(796	)
Change in unrealized appreciation on investments		216,726			245,083			159,080			1,170,812			22,424			15,988
Net Increase in Net Assets Resulting from Operations		175,651			192,829			1,127			368,015			18,778			16,455
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		26,046			33,911			46,141			86,153			41,409			43,709
Transfers between variable and fixed accounts, net		(31,451	)		93,204			(295,107	)		(459,371	)		38,244			75,494
Contract charges and deductions		(11,394	)		(9,416	)		(22,650	)		(24,827	)		(2,684	)		(489	)
Surrenders		(62,985	)		(38,497	)		(123,061	)		(108,553	)		(10,843	)		(2,734	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			1			—			—
Other		(15	)		(24	)		35			68			(11	)		(27	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(79,799	)		79,178			(394,642	)		(506,529	)		66,115			115,953
NET INCREASE (DECREASE) IN NET ASSETS		95,852			272,007			(393,515	)		(138,514	)		84,893			132,408
NET ASSETS
Beginning of Year or Period		822,912			550,905			1,782,323			1,920,837			132,408			—
End of Year or Period		$918,764			$822,912			$1,388,808			$1,782,323			$217,301			$132,408
	Pacific Dynamix -						Pacific Dynamix -						Pacific Dynamix -
	Conservative Growth(2)						Moderate Growth(2)						Growth(2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income		$1,223			$179			$812			$230			$127			$38
Realized gain		2,043			278			1,600			335			1,690			707
Change in unrealized appreciation on investments		2,153			1,034			8,309			3,525			6,374			3,515
Net Increase in Net Assets Resulting from Operations		5,419			1,491			10,721			4,090			8,191			4,260
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		21,578			10,857			44,679			21,254			21,912			16,748
Transfers between variable and fixed accounts, net		66,767			18,425			34,649			32,808			24,225			20,753
Contract charges and deductions		(2,429	)		(32	)		(878	)		(104	)		(598	)		(44	)
Surrenders		(2,810	)		(799	)		(3,426	)		(1,149	)		(2,414	)		(580	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			—			—
Other		(10	)		(2	)		(2	)		(8	)		(3	)		(7	)
Net Increase in Net Assets Derived from Contract Owner Transactions		83,096			28,449			75,022			52,801			43,122			36,870
NET INCREASE IN NET ASSETS		88,515			29,940			85,743			56,891			51,313			41,130
NET ASSETS
Beginning of Year or Period		29,940			—			56,891			—			41,130			—
End of Year or Period		$118,455			$29,940			$142,634			$56,891			$92,443			$41,130

(1)	Operations commenced on February 2, 2009.
(2)	Operations commenced on May 4, 2009.
See Notes to Financial Statements

H-15

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year/Period Ended			Period Ended			Year Ended			Year/Period Ended			Year/Period Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	Invesco V.I. Global						Invesco Van Kampen V.I. Global						AllianceBernstein VPS Balanced
	Multi-Asset Series II(1)						Tactical Asset Allocation Series II(2)						Wealth Strategy Class B
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($462	)		$149			($919	)		$967			$1,179			($523	)
Realized gain (loss)		(427	)		26			(1,156	)		2,835			(839	)		(3,438	)
Change in unrealized appreciation on investments		4,501			2,609			5,964			3,994			9,855			23,586
Net Increase in Net Assets Resulting from Operations		3,612			2,784			3,889			7,796			10,195			19,625
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		7,022			7,792			7,652			7,873			8,178			15,210
Transfers between variable and fixed accounts, net		7,362			23,642			(19,290	)		71,448			16,248			26,605
Contract charges and deductions		(484	)		(35	)		(676	)		(206	)		(2,360	)		(1,061	)
Surrenders		(2,749	)		(415	)		(5,394	)		(2,028	)		(5,172	)		(2,927	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			—			—
Other		(6	)		(4	)		(4	)		(7	)		—			(8	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		11,145			30,980			(17,712	)		77,080			16,894			37,819
NET INCREASE (DECREASE) IN NET ASSETS		14,757			33,764			(13,823	)		84,876			27,089			57,444
NET ASSETS
Beginning of Year or Periods		33,764			—			84,876			—			110,612			53,168
End of Year or Periods		$48,521			$33,764			$71,053			$84,876			$137,701			$110,612
	BlackRock Capital Appreciation						BlackRock Global Allocation						Franklin Templeton VIP Founding
	V.I. Class III(3)						V.I. Class III						Funds Allocation Class 2(3)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($—	)					($6,122	)		$7,526			$8
Realized loss		(1	)					(7,138	)		(17,877	)		(—	)
Change in unrealized appreciation on investments		52						129,876			246,687			31
Net Increase in Net Assets Resulting from Operations		51						116,616			236,336			39
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		278						114,209			190,836			231
Transfers between variable and fixed accounts, net		139						(24,939	)		373,785			230
Contract charges and deductions		(1	)					(18,677	)		(12,345	)		(1	)
Surrenders		(2	)					(86,372	)		(47,298	)		(6	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—						—			—			—
Other		1						(8	)		5			(—	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		415						(15,787	)		504,983			454
NET INCREASE IN NET ASSETS		466						100,829			741,319			493
NET ASSETS
Beginning of Year or Periods		—						1,530,694			789,375			—
End of Year or Periods		$466						$1,631,523			$1,530,694			$493

(1)	Operations commenced on February 2, 2009.
(2)	Operations commenced on February 6, 2009.
(3)	Operations commenced during 2010 (See Note 1 in Notes to Financial Statements).

See Notes to Financial Statements

H-16

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year/Period Ended			Periods Ended			Periods Ended
	December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2010
	Franklin Templeton VIP Founding						Mutual Global Discovery			Templeton Global Bond
	Funds Allocation Class 4						Securities Class 2(1)			Securities Class 2(1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$1,573			$2,443			$2			($—	)
Realized gain (loss)		(4,080	)		(9,379	)		(1	)		—
Change in unrealized appreciation on investments		21,920			53,883			29			1
Net Increase in Net Assets Resulting from Operations		19,413			46,947			30			1
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		20,721			34,348			380			9
Transfers between variable and fixed accounts, net		15,220			36,489			248			28
Contract charges and deductions		(3,722	)		(1,428	)		(1	)		(—	)
Surrenders		(12,820	)		(6,478	)		(2	)		(—	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—
Other		2			(5	)		(—	)		(1	)
Net Increase in Net Assets Derived from Contract Owner Transactions		19,401			62,926			625			36
NET INCREASE IN NET ASSETS		38,814			109,873			655			37
NET ASSETS
Beginning of Year or Periods		218,966			109,093			—			—
End of Year or Periods		$257,780			$218,966			$655			$37
	GE Investments Total						Lord Abbett International			Lord Abbett Total
	Return Class 3(2)						Core Equity Class VC(1)			Return Class VC(1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income		$288			$461		$	—			$15
Realized gain (loss)		(316	)		4,219			1			17
Change in unrealized appreciation (depreciation) on investments		10,941			298			26			(30	)
Net Increase in Net Assets Resulting from Operations		10,913			4,978			27			2
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		38,656			20,060			189			734
Transfers between variable and fixed accounts, net		47,880			35,927			150			427
Contract charges and deductions		(1,271	)		(70	)		(—	)		(1	)
Surrenders		(4,878	)		(658	)		(1	)		(4	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—
Other		(14	)		(5	)		(—	)		(1	)
Net Increase in Net Assets Derived from Contract Owner Transactions		80,373			55,254			338			1,155
NET INCREASE IN NET ASSETS		91,286			60,232			365			1,157
NET ASSETS
Beginning of Year or Periods		60,232			—			—			—
End of Year or Periods		$151,518			$60,232			$365			$1,157

(1)	Operations commenced during 2010 (See Note 1 in Notes to Financial Statements).
(2)	Operations commenced on February 2, 2009.

See Notes to Financial Statements

H-17

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	MFS Investors Growth Stock						MFS Value						PIMCO Global
	Series - Service Class(1), (2)						Series - Service Class(1)						Multi-Asset - Advisor Class(1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($—	)					($1	)					$1,180
Realized gain (loss)		—						(—	)					63
Change in unrealized appreciation (depreciation) on investments		—						48						3,337
Net Increase (Decrease) in Net Assets Resulting from Operations		—						47						4,580
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		—						372						9,142
Transfers between variable and fixed accounts, net		1						211						74,005
Contract charges and deductions		—						(1	)					(243	)
Surrenders		—						(2	)					(2,020	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—						—						—
Other		—						(—	)					(9	)
Net Increase in Net Assets Derived from Contract Owner Transactions		1						580						80,875
NET INCREASE IN NET ASSETS		1						627						85,455
NET ASSETS
Beginning of Periods		—						—						—
End of Periods		$1						$627						$85,455
	Jennison						Value						SP International Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($6	)		($5	)		($5	)		$—			($2	)		($1	)
Realized gain (loss)		40			14			4			(15	)		(4	)		(16	)
Change in unrealized appreciation (depreciation) on investments		(9	)		113			35			138			49			119
Net Increase in Net Assets Resulting from Operations		25			122			34			123			43			102
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		—			—			1			—			—			—
Transfers between variable and fixed accounts, net		(34	)		1			(12	)		(39	)		—			6
Contract charges and deductions		(—	)		(—	)		(8	)		(—	)		(—	)		(—	)
Surrenders		(61	)		(42	)		(43	)		(45	)		(7	)		(35	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			—			—
Other		—			—			(2	)		1			(—	)		—
Net Decrease in Net Assets Derived from Contract Owner Transactions		(95	)		(41	)		(64	)		(83	)		(7	)		(29	)
NET INCREASE (DECREASE) IN NET ASSETS		(70	)		81			(30	)		40			36			73
NET ASSETS
Beginning of Year		401			320			374			334			363			290
End of Year		$331			$401			$344			$374			$399			$363

(1)

Operations commenced during 2010 (See Note 1 in Notes to Financial Statements).

(2)

Net investment loss in full dollars was $1. Change in unrealized appreciation on investments in full dollars was $39. Net increase in net assets resulting from operations in full dollars was $38. Net transfers between variable and fixed accounts and net increase in net assets derived from Contract owner transactions in full dollars were both $1,172. Net increase in net assets and net assets at the end of the period in full dollars were both $1,210.

See Notes to Financial Statements

H-18

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2010			2009			2010			2009			2010			2009
	SP Prudential						JPMorgan Insurance Trust						JPMorgan Insurance Trust
	U.S. Emerging Growth						Core Bond						Equity Index
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($3	)		($3	)		$29			$74			$2			$2
Realized gain (loss)		(4	)		(3	)		16			(2	)		(1	)		(26	)
Change in unrealized appreciation on investments		49			82			46			11			28			74
Net Increase in Net Assets Resulting from Operations		42			76			91			83			29			50
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		—			—			132			—			—			—
Transfers between variable and fixed accounts, net		—			—			13			142			(24	)		25
Contract charges and deductions		(—	)		(—	)		(31	)		(30	)		(28	)		(1	)
Surrenders		(28	)		(10	)		(260	)		(57	)		(31	)		(10	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			—			—
Other		(1	)		1			2			3			—			1
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(29	)		(9	)		(144	)		58			(83	)		15
NET INCREASE (DECREASE) IN NET ASSETS		13			67			(53	)		141			(54	)		65
NET ASSETS
Beginning of Year		264			197			1,111			970			301			236
End of Year		$277			$264			$1,058			$1,111			$247			$301
	JPMorgan Insurance Trust						JPMorgan Insurance Trust						JPMorgan Insurance Trust
	U.S. Equity						Mid Cap Value						Intrepid Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		($156	)		$975			($—	)		$1			($1	)		($1	)
Realized loss		(3,905	)		(14,051	)		(35	)		(33	)		(—	)		(4	)
Change in unrealized appreciation on investments		8,997			25,548			64			63			15			33
Net Increase in Net Assets Resulting from Operations		4,936			12,472			29			31			14			28
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		206			236			—			—			19			—
Transfers between variable and fixed accounts, net		(11,470	)		(16,520	)		—			(2	)		6			8
Contract charges and deductions		(808	)		(992	)		(1	)		(2	)		(1	)		(2	)
Surrenders		(3,223	)		(2,374	)		(32	)		(11	)		(33	)		(20	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—			—			—			—			—
Other		1			1			3			4			2			3
Net Decrease in Net Assets Derived from Contract Owner Transactions		(15,294	)		(19,649	)		(30	)		(11	)		(7	)		(11	)
NET INCREASE (DECREASE) IN NET ASSETS		(10,358	)		(7,177	)		(1	)		20			7			17
NET ASSETS
Beginning of Year		50,309			57,486			165			145			128			111
End of Year		$39,951			$50,309			$164			$165			$135			$128

See Notes to Financial Statements

H-19

SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
(in thousands)

	Variable Account
	Year Ended			Year Ended
	December 31,			December 31,
	2010			2009
	JPMorgan Insurance Trust
	Mid Cap Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment loss		($2	)		($1	)
Realized loss		(4	)		(9	)
Change in unrealized appreciation on investments		32			44
Net Increase in Net Assets Resulting from Operations		26			34
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		19			—
Transfers between variable and fixed accounts, net		—			(7	)
Contract charges and deductions		(—	)		(—	)
Surrenders		(14	)		(11	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		—			—
Other		1			—
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		6			(18	)
NET INCREASE IN NET ASSETS		32			16
NET ASSETS
Beginning of Year		104			88
End of Year		$136			$104

See Notes to Financial Statements

H-20

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS

     A summary of total units outstanding, total net assets, accumulation unit values (“AUV”), expense ratios, investment income ratios, and total returns for each year or period ended December 31 are presented in the table below.

	At the End of Each Year or Period
	Total Units		Total												Investment
Variable Accounts	Outstanding		Net Assets		AUV (1)				Expense Ratio (2)						Income			Total Return (4)
For Each Year or Period Ended	(in 000’s)		(in $000’s)		Lowest		Highest		Lowest			Highest			Ratio (3)			Lowest			Highest
Cash Management
2010		36,209	$	421,319	$	9.63	$	13.06		0.40	%		2.00	%		0.01	%		(2.03	%)		(0.45	%)
2009		49,269		584,026		9.83		13.25		0.40	%		2.00	%		0.23	%		(1.81	%)		(0.23	%)
2008		84,229		1,014,314		10.00		13.41		0.40	%		2.00	%		2.26	%		0.33	%		1.95	%
2007		51,227		626,894		10.32		13.29		0.40	%		2.00	%		4.84	%		2.90	%		4.57	%
2006		54,709		653,993		10.12		12.84		0.40	%		2.00	%		4.60	%		2.62	%		4.27	%
Diversified Bond
2010		244,751	$	2,747,532	$	10.58	$	11.89		0.40	%		2.00	%		3.17	%		5.91	%		7.61	%
2009		182,769		1,929,492		10.25		11.05		0.40	%		2.00	%		3.58	%		11.88	%		13.68	%
2008		186,111		1,750,068		9.10		9.72		0.40	%		2.00	%		3.91	%		(9.63	%)		(8.17	%)
2007		183,313		1,901,502		10.01		10.59		0.40	%		2.00	%		5.01	%		(0.70	%)		0.91	%
05/01/2006 - 12/31/2006		69,865		727,343		10.28		10.49		0.40	%		2.00	%		4.64	%		4.22	%		4.22	%
Floating Rate Loan
2010		110,822	$	971,110	$	8.60	$	10.50		0.40	%		2.00	%		4.76	%		5.15	%		6.85	%
2009		107,641		892,571		8.18		9.13		0.40	%		2.00	%		4.77	%		21.85	%		23.81	%
2008		91,039		616,200		6.71		7.42		0.40	%		2.00	%		7.16	%		(30.68	%)		(29.56	%)
05/02/2007 - 12/31/2007		74,807		726,576		9.68		9.79		0.40	%		2.00	%		6.52	%		(3.03	%)		(2.87	%)
High Yield Bond
2010		62,501	$	997,803	$	11.12	$	18.53		0.40	%		2.00	%		7.74	%		12.26	%		14.07	%
2009		66,629		953,674		10.46		16.41		0.40	%		2.00	%		8.52	%		37.11	%		39.31	%
2008		50,328		535,188		7.62		11.89		0.40	%		2.00	%		8.49	%		(23.74	%)		(22.51	%)
2007		45,260		642,041		10.00		15.50		0.40	%		2.00	%		7.59	%		0.40	%		2.03	%
2006		47,706		682,250		10.57		15.35		0.40	%		2.00	%		7.33	%		7.26	%		8.99	%
Inflation Managed
2010		239,677	$	4,108,323	$	10.59	$	20.99		0.40	%		2.00	%		2.01	%		6.62	%		8.34	%
2009		238,792		3,872,342		10.15		19.57		0.40	%		2.00	%		3.99	%		18.41	%		20.32	%
2008		258,506		3,600,601		8.51		16.43		0.40	%		2.00	%		2.78	%		(11.14	%)		(9.70	%)
2007		267,549		4,298,954		10.76		18.37		0.40	%		2.00	%		4.30	%		7.95	%		9.70	%
2006		198,553		3,017,318		9.96		16.92		0.40	%		2.00	%		4.04	%		(1.47	%)		0.12	%
Managed Bond
2010		283,102	$	5,159,549	$	10.64	$	22.37		0.40	%		2.00	%		3.69	%		6.80	%		8.53	%
2009		231,242		3,983,944		11.16		20.82		0.40	%		2.00	%		6.62	%		18.61	%		20.53	%
2008		242,658		3,588,555		9.41		17.45		0.40	%		2.00	%		4.42	%		(3.65	%)		(2.10	%)
2007		245,486		3,860,497		10.76		18.00		0.40	%		2.00	%		4.50	%		6.37	%		8.10	%
2006		195,054		2,937,942		10.27		16.82		0.40	%		2.00	%		4.01	%		2.74	%		4.39	%
Short Duration Bond
2010		135,177	$	1,443,392	$	10.15	$	11.69		0.40	%		2.00	%		1.53	%		1.36	%		2.99	%
2009		124,976		1,310,907		10.02		11.35		0.40	%		2.00	%		2.90	%		6.51	%		8.22	%
2008		148,056		1,452,952		9.34		10.49		0.40	%		2.00	%		3.83	%		(6.97	%)		(5.47	%)
2007		137,060		1,440,945		10.29		11.10		0.40	%		2.00	%		4.47	%		2.39	%		4.05	%
2006		174,531		1,785,296		10.06		10.66		0.40	%		2.00	%		4.13	%		2.21	%		3.85	%
American Funds Growth
2010 (5)		73,533	$	870,518	$	9.05	$	13.18		0.40	%		2.00	%		0.00	%		15.92	%		17.79	%
2009		79,831		816,556		7.81		11.19		0.40	%		2.00	%		0.10	%		36.12	%		38.31	%
2008		141,837		1,070,747		5.73		8.09		0.40	%		2.00	%		0.62	%		(45.30	%)		(44.41	%)
2007		101,316		1,412,128		10.82		14.55		0.40	%		2.00	%		0.43	%		9.70	%		11.48	%
2006		117,464		1,503,623		10.81		13.05		0.40	%		2.00	%		0.53	%		7.64	%		9.37	%
American Funds Growth-Income
2010 (5)		119,157	$	1,253,641	$	8.74	$	11.59		0.40	%		2.00	%		0.00	%		8.83	%		10.58	%
2009		140,391		1,356,955		7.98		10.48		0.40	%		2.00	%		1.24	%		28.15	%		30.22	%
2008		138,531		1,046,806		6.19		8.05		0.40	%		2.00	%		1.32	%		(39.31	%)		(38.33	%)
2007		150,512		1,887,291		10.13		13.06		0.40	%		2.00	%		1.37	%		2.57	%		4.24	%
2006		117,185		1,439,657		11.09		12.52		0.40	%		2.00	%		1.49	%		12.51	%		14.32	%
Comstock
2010		201,104	$	2,023,341	$	8.45	$	11.76		0.40	%		2.00	%		1.25	%		13.14	%		14.96	%
2009		218,605		1,941,593		7.42		10.23		0.40	%		2.00	%		1.47	%		26.13	%		28.16	%
2008		193,586		1,363,320		5.85		7.98		0.40	%		2.00	%		2.05	%		(38.05	%)		(37.04	%)
2007		211,667		2,415,367		9.38		12.68		0.40	%		2.00	%		1.62	%		(4.94	%)		(3.40	%)
2006		121,309		1,458,457		11.07		13.13		0.40	%		2.00	%		1.77	%		14.04	%		15.87	%
Dividend Growth
2010		92,697	$	969,624	$	8.42	$	11.22		0.40	%		2.00	%		1.13	%		8.58	%		10.33	%
2009		42,956		415,633		7.71		10.17		0.40	%		2.00	%		1.41	%		29.78	%		31.87	%
2008		80,959		603,641		5.90		7.71		0.40	%		2.00	%		1.02	%		(40.28	%)		(39.31	%)
2007		106,191		1,335,806		9.81		12.77		0.40	%		2.00	%		0.72	%		(0.82	%)		0.79	%
2006		114,405		1,459,009		10.79		12.82		0.40	%		2.00	%		0.75	%		9.76	%		11.53	%

See Notes to Financial Statements See explanation of references on page H-25

H-21

SEPARATE ACCOUNT A
FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
	Total Units		Total												Investment
Variable Accounts	Outstanding		Net Assets		AUV (1)				Expense Ratio (2)						Income			Total Return (4)
For Each Year or Period Ended	(in 000’s)		(in $000’s)		Lowest		Highest		Lowest			Highest			Ratio (3)			Lowest			Highest
Equity Index
2010		135,511	$	1,880,024	$	8.89	$	20.57		0.40	%		2.00	%		1.64	%		12.54	%		14.35	%
2009		240,021		2,960,908		7.85		18.17		0.40	%		2.00	%		2.08	%		23.86	%		25.86	%
2008		110,236		1,145,265		6.30		14.58		0.40	%		2.00	%		2.33	%		(38.59	%)		(37.60	%)
2007		62,460		1,135,208		10.19		23.61		0.40	%		2.00	%		1.71	%		3.13	%		4.81	%
2006		77,542		1,400,200		11.16		22.75		0.40	%		2.00	%		1.76	%		13.24	%		15.06	%
Focused 30
2010		7,203	$	90,989	$	7.88	$	19.33		0.40	%		2.00	%		0.00	%		8.16	%		9.91	%
2009		10,266		123,805		7.28		17.59		0.40	%		2.00	%		0.00	%		47.45	%		49.83	%
2008		35,531		291,656		4.94		11.74		0.40	%		2.00	%		0.06	%		(51.13	%)		(50.34	%)
2007		15,077		253,725		12.31		23.64		0.40	%		2.00	%		0.41	%		29.22	%		31.31	%
2006		13,320		170,147		11.17		18.00		0.40	%		2.00	%		0.07	%		21.27	%		23.22	%
Growth LT
2010		85,904	$	1,272,964	$	8.97	$	23.71		0.40	%		2.00	%		1.10	%		9.04	%		10.80	%
2009		91,175		1,257,878		8.22		21.61		0.40	%		2.00	%		1.07	%		34.57	%		36.74	%
2008		89,969		945,847		6.10		15.96		0.40	%		2.00	%		0.55	%		(42.13	%)		(41.19	%)
2007		72,629		1,397,014		11.07		27.42		0.40	%		2.00	%		0.44	%		13.33	%		15.16	%
2006		73,790		1,316,778		10.10		24.05		0.40	%		2.00	%		0.64	%		7.55	%		9.28	%
Large-Cap Growth
2010		176,154	$	1,275,265	$	6.37	$	11.36		0.40	%		2.00	%		0.00	%		12.26	%		14.07	%
2009		188,272		1,200,922		5.66		8.82		0.40	%		2.00	%		0.07	%		37.72	%		39.94	%
2008		103,892		474,458		4.10		6.39		0.40	%		2.00	%		0.00	%		(51.46	%)		(50.67	%)
2007		98,533		914,344		8.43		13.13		0.40	%		2.00	%		0.00	%		19.21	%		21.14	%
2006		190,175		1,451,113		7.05		10.98		0.40	%		2.00	%		0.23	%		(5.72	%)		(4.20	%)
Large-Cap Value
2010		246,305	$	2,790,926	$	8.44	$	13.16		0.40	%		2.00	%		1.50	%		6.92	%		8.65	%
2009		279,552		2,974,680		7.84		12.24		0.40	%		2.00	%		2.23	%		20.69	%		22.64	%
2008		207,482		1,849,542		6.45		10.08		0.40	%		2.00	%		1.81	%		(36.09	%)		(35.06	%)
2007		191,383		2,720,282		10.03		15.68		0.40	%		2.00	%		1.28	%		1.48	%		3.12	%
2006		158,730		2,260,337		11.01		15.36		0.40	%		2.00	%		1.35	%		15.26	%		17.11	%
Long/Short Large-Cap
2010		163,658	$	1,484,842	$	8.87	$	10.97		0.40	%		2.00	%		0.83	%		10.00	%		11.78	%
2009		168,564		1,383,430		8.06		8.36		0.40	%		2.00	%		0.88	%		25.03	%		27.05	%
05/02/2008 - 12/31/2008		104,216		680,841		6.44		6.58		0.40	%		2.00	%		0.95	%		(35.90	%)		(35.21	%)
Main Street Core
2010		89,261	$	1,140,178	$	8.91	$	17.17		0.40	%		2.00	%		0.85	%		13.84	%		15.68	%
2009		97,764		1,080,991		7.77		14.99		0.40	%		2.00	%		1.40	%		26.79	%		28.84	%
2008		136,027		1,194,518		6.09		11.75		0.40	%		2.00	%		1.39	%		(40.08	%)		(39.11	%)
2007		141,484		2,137,237		10.10		19.50		0.40	%		2.00	%		1.27	%		2.32	%		3.98	%
2006		116,743		1,784,157		10.96		18.94		0.40	%		2.00	%		1.28	%		12.90	%		14.72	%
Mid-Cap Equity
2010		100,438	$	1,763,411	$	9.37	$	22.41		0.40	%		2.00	%		0.96	%		21.05	%		23.00	%
2009		114,079		1,678,432		7.69		18.40		0.40	%		2.00	%		0.94	%		36.89	%		39.10	%
2008		223,293		2,440,178		5.58		13.36		0.40	%		2.00	%		1.62	%		(40.21	%)		(39.24	%)
2007		204,995		3,935,195		9.28		22.21		0.40	%		2.00	%		0.79	%		(4.10	%)		(2.54	%)
2006		168,985		3,542,390		11.30		23.02		0.40	%		2.00	%		0.76	%		12.70	%		14.51	%
Mid-Cap Growth
2010		102,177	$	1,166,351	$	9.91	$	14.17		0.40	%		2.00	%		0.18	%		30.68	%		32.78	%
2009		121,699		1,054,843		7.56		10.81		0.40	%		2.00	%		0.37	%		56.18	%		58.69	%
2008		95,372		524,095		4.83		6.91		0.40	%		2.00	%		0.11	%		(49.39	%)		(48.57	%)
2007		121,631		1,307,108		9.52		13.61		0.40	%		2.00	%		0.46	%		20.47	%		22.42	%
2006		109,244		960,904		7.88		11.27		0.40	%		2.00	%		0.31	%		6.78	%		8.50	%
Mid-Cap Value
2010		69,489	$	1,086,757	$	11.64	$	15.94		0.40	%		2.00	%		1.04	%		18.80	%		20.72	%
05/01/2009 - 12/31/2009		76,857		1,007,008		13.06		13.20		0.40	%		2.00	%		0.96	%		30.61	%		32.01	%
Small-Cap Equity
2010		68,546	$	1,005,017	$	10.98	$	16.40		0.40	%		2.00	%		0.76	%		17.73	%		19.63	%
2009		52,736		657,635		9.32		13.71		0.40	%		2.00	%		0.73	%		27.64	%		29.70	%
2008		58,025		568,979		7.30		10.57		0.40	%		2.00	%		0.60	%		(27.58	%)		(26.41	%)
2007		29,618		405,731		10.25		14.36		0.40	%		2.00	%		0.28	%		3.93	%		5.61	%
2006		6,512		86,835		11.13		13.60		0.40	%		2.00	%		0.75	%		16.34	%		18.21	%
Small-Cap Growth
2010		46,036	$	575,863	$	10.53	$	13.74		0.40	%		2.00	%		0.00	%		23.52	%		25.51	%
2009		52,672		532,109		8.47		11.08		0.40	%		2.00	%		0.00	%		44.52	%		46.85	%
2008		70,481		492,787		5.82		7.64		0.40	%		2.00	%		0.00	%		(48.16	%)		(47.32	%)
2007		54,546		738,267		11.16		14.69		0.40	%		2.00	%		0.00	%		12.81	%		14.64	%
2006		33,742		403,761		10.91		12.98		0.40	%		2.00	%		0.25	%		2.99	%		4.65	%

See Notes to Financial Statements See explanation of references on page H-25

H-22

SEPARATE ACCOUNT A
FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
	Total Units		Total												Investment
Variable Accounts	Outstanding		Net Assets		AUV (1)				Expense Ratio (2)						Income			Total Return (4)
For Each Year or Period Ended	(in 000’s)		(in $000’s)		Lowest		Highest		Lowest			Highest			Ratio (3)			Lowest			Highest
Small-Cap Index
2010		14,121	$	228,045	$	9.54	$	17.07		0.40	%		2.00	%		0.84	%		23.92	%		25.92	%
2009		16,143		211,428		7.65		13.69		0.40	%		2.00	%		1.17	%		25.65	%		27.68	%
2008		18,261		190,945		6.05		10.83		0.40	%		2.00	%		1.06	%		(36.32	%)		(35.29	%)
2007		68,229		1,107,860		9.43		16.91		0.40	%		2.00	%		1.53	%		(3.97	%)		(2.41	%)
2006		40,398		697,301		11.37		17.50		0.40	%		2.00	%		1.30	%		15.46	%		17.32	%
Small-Cap Value
2010		25,650	$	507,065	$	10.64	$	24.59		0.40	%		2.00	%		1.92	%		22.86	%		24.84	%
2009		35,478		575,609		8.65		19.70		0.40	%		2.00	%		2.70	%		24.66	%		26.67	%
2008		26,451		355,593		6.94		15.55		0.40	%		2.00	%		2.51	%		(29.65	%)		(28.51	%)
2007		24,163		481,162		9.86		21.76		0.40	%		2.00	%		1.97	%		1.08	%		2.72	%
2006		23,763		481,479		10.99		21.18		0.40	%		2.00	%		2.32	%		17.39	%		19.28	%
Health Sciences
2010		5,377	$	78,236	$	11.48	$	16.98		0.40	%		2.00	%		0.00	%		20.90	%		22.85	%
2009		5,318		63,408		9.49		13.99		0.40	%		2.00	%		0.12	%		24.71	%		26.72	%
2008		6,193		59,392		7.61		11.18		0.40	%		2.00	%		1.12	%		(29.59	%)		(28.45	%)
2007		7,692		105,009		10.81		15.82		0.40	%		2.00	%		0.00	%		14.15	%		16.00	%
2006		8,341		99,247		10.92		13.81		0.40	%		2.00	%		0.00	%		5.97	%		7.68	%
Real Estate
2010		22,895	$	500,338	$	7.52	$	32.20		0.40	%		2.00	%		1.32	%		27.96	%		30.02	%
2009		28,624		499,801		5.84		25.01		0.40	%		2.00	%		2.14	%		29.65	%		31.75	%
2008		26,092		371,228		4.47		19.17		0.40	%		2.00	%		3.37	%		(41.18	%)		(40.23	%)
2007		30,703		811,165		7.55		32.40		0.40	%		2.00	%		1.10	%		(17.83	%)		(16.50	%)
2006		27,982		993,041		11.79		39.20		0.40	%		2.00	%		3.14	%		35.34	%		37.51	%
Technology
2010		9,239	$	68,103	$	5.77	$	11.91		0.40	%		2.00	%		0.00	%		19.10	%		21.02	%
2009		10,200		61,955		4.83		9.97		0.40	%		2.00	%		0.00	%		49.55	%		51.96	%
2008		8,023		31,854		3.22		6.65		0.40	%		2.00	%		0.11	%		(52.60	%)		(51.83	%)
2007		11,998		101,264		6.78		14.00		0.40	%		2.00	%		0.05	%		20.59	%		22.54	%
2006		11,188		75,633		5.61		11.58		0.40	%		2.00	%		0.00	%		7.18	%		8.91	%
Emerging Markets
2010		47,306	$	1,523,340	$	11.76	$	58.68		0.40	%		2.00	%		1.09	%		24.51	%		26.51	%
2009		55,794		1,464,834		9.44		46.39		0.40	%		2.00	%		0.91	%		81.14	%		84.06	%
2008		57,755		864,882		5.21		25.20		0.40	%		2.00	%		1.58	%		(48.72	%)		(47.89	%)
2007		58,327		1,800,752		13.07		48.37		0.40	%		2.00	%		1.13	%		30.45	%		32.56	%
2006		53,065		1,296,585		12.35		36.49		0.40	%		2.00	%		0.77	%		21.94	%		23.90	%
International Large-Cap
2010		186,193	$	2,161,108	$	9.09	$	17.08		0.40	%		2.00	%		1.08	%		8.19	%		9.94	%
2009		213,871		2,289,235		8.40		15.53		0.40	%		2.00	%		1.62	%		30.97	%		33.08	%
2008		224,083		1,829,644		6.41		11.67		0.40	%		2.00	%		2.21	%		(36.64	%)		(35.61	%)
2007		219,222		2,821,428		10.46		18.13		0.40	%		2.00	%		1.42	%		7.09	%		8.82	%
2006		304,639		3,648,294		10.36		16.66		0.40	%		2.00	%		2.89	%		24.50	%		26.50	%
International Small-Cap
2010		108,088	$	918,764	$	8.20	$	12.01		0.40	%		2.00	%		2.59	%		22.39	%		24.36	%
2009		119,004		822,912		6.69		7.74		0.40	%		2.00	%		1.47	%		27.70	%		29.76	%
2008		102,125		550,905		5.21		6.05		0.40	%		2.00	%		2.15	%		(48.88	%)		(48.05	%)
2007		92,643		974,615		10.12		11.80		0.40	%		2.00	%		1.20	%		2.65	%		4.31	%
05/01/2006 - 12/31/2006		69,301		707,446		10.17		11.47		0.40	%		2.00	%		0.23	%		2.14	%		2.14	%
International Value
2010		135,322	$	1,388,808	$	6.67	$	12.25		0.40	%		2.00	%		2.52	%		0.56	%		2.18	%
2009		173,369		1,782,323		6.63		12.11		0.40	%		2.00	%		2.08	%		25.47	%		27.49	%
2008		231,729		1,920,837		5.29		9.59		0.40	%		2.00	%		3.07	%		(48.82	%)		(47.99	%)
2007		201,230		3,360,783		10.31		18.63		0.40	%		2.00	%		2.26	%		4.13	%		5.82	%
2006		138,057		2,275,303		11.34		17.78		0.40	%		2.00	%		1.76	%		23.21	%		25.19	%
American Funds Asset Allocation
2010		15,364	$	217,301	$	14.00	$	14.43		0.40	%		2.00	%		0.00	%		9.82	%		11.59	%
02/02/2009 - 12/31/2009		10,338		132,408		12.75		12.93		0.40	%		2.00	%		3.49	%		26.55	%		28.17	%
Pacific Dynamix — Conservative Growth
2010		9,640	$	118,455	$	10.76	$	12.52		0.40	%		2.00	%		3.65	%		8.10	%		9.84	%
05/04/2009 - 12/31/2009		2,645		29,940		11.27		11.39		0.40	%		2.00	%		3.24	%		11.40	%		11.67	%
Pacific Dynamix — Moderate Growth
2010		10,923	$	142,634	$	10.91	$	13.30		0.40	%		2.00	%		2.32	%		9.71	%		11.48	%
05/04/2009 - 12/31/2009		4,804		56,891		11.80		11.93		0.40	%		2.00	%		2.66	%		15.15	%		16.14	%
Pacific Dynamix — Growth
2010		6,694	$	92,443	$	11.09	$	14.06		0.40	%		2.00	%		1.67	%		11.57	%		13.37	%
05/04/2009 - 12/31/2009		3,340		41,130		12.27		12.40		0.40	%		2.00	%		1.73	%		19.36	%		19.36	%

See Notes to Financial Statements See explanation of references on page H-25

H-23

SEPARATE ACCOUNT A
FINANCIAL HIGHLIGHTS (Continued)

		At the End of Each Year or Period
		Total Units			Total												Investment
Variable Accounts		Outstanding			Net Assets		AUV (1)				Expense Ratio (2)						Income			Total Return (4)
For Each Year or Period Ended		(in 000’s)			(in $000’s)		Lowest		Highest		Lowest			Highest			Ratio (3)			Lowest			Highest
Invesco V.I. Global Multi-Asset Series II
2010			3,316		$	48,521	$	10.82	$	14.95		0.40	%		2.00	%		0.38	%		9.26	%		11.02	%
02/02/2009 - 12/31/2009			2,533			33,764		13.27		13.47		0.40	%		2.00	%		2.76	%		32.84	%		33.47	%
Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II
2010			5,240		$	71,053	$	10.73	$	13.86		0.40	%		2.00	%		0.21	%		7.16	%		8.88	%
02/06/2009 - 12/31/2009			6,740			84,876		12.54		12.73		0.40	%		2.00	%		4.34	%		22.42	%		25.00	%
AllianceBernstein VPS Balanced Wealth Strategy Class B
2010			14,622		$	137,701	$	9.27	$	10.79		0.40	%		2.00	%		2.49	%		8.11	%		9.86	%
2009			12,781			110,612		8.57		8.82		0.40	%		2.00	%		0.89	%		21.99	%		23.95	%
05/01/2008 - 12/31/2008			7,532			53,168		7.02		7.12		0.40	%		2.00	%		2.60	%		(29.31	%)		(29.31	%)
BlackRock Capital Appreciation V.I. Class III (6)
06/14/2010 - 12/31/2010			38		$	466	$	12.34	$	12.36		0.75	%		0.95	%		0.57	%		20.48	%		20.48	%
BlackRock Global Allocation V.I. Class III
2010			160,465		$	1,631,523	$	10.01	$	10.77		0.40	%		2.00	%		1.12	%		7.59	%		9.32	%
2009			162,804			1,530,694		9.30		9.58		0.40	%		2.00	%		2.17	%		18.52	%		20.43	%
05/01/2008 - 12/31/2008			100,003			789,375		7.84		7.96		0.40	%		2.00	%		6.64	%		(21.26	%)		(20.97	%)
Franklin Templeton VIP Founding Funds Allocation Class 2 (6)
06/01/2010 - 12/31/2010			46		$	493	$	10.76	$	10.78		0.75	%		0.95	%		5.19	%		14.59	%		14.59	%
Franklin Templeton VIP Founding Funds Allocation Class 4
2010			28,087		$	257,780	$	9.03	$	9.46		0.40	%		2.00	%		2.17	%		8.06	%		9.80	%
2009			25,921			218,966		8.36		8.61		0.40	%		2.00	%		3.01	%		27.49	%		29.55	%
05/01/2008 - 12/31/2008			16,549			109,093		6.55		6.65		0.40	%		2.00	%		7.92	%		(34.08	%)		(33.97	%)
Mutual Global Discovery Securities Class 2 (6)
06/14/2010 - 12/31/2010			58		$	655	$	11.31	$	11.32		0.75	%		0.95	%		1.97	%		11.09	%		11.09	%
Templeton Global Bond Securities Class 2 (6)
06/15/2010 - 12/31/2010			3		$	37	$	10.99	$	11.00		0.75	%		0.95	%		0.00	%		8.02	%		8.02	%
GE Investments Total Return Class 3
2010			11,244		$	151,518	$	10.70	$	13.75		0.40	%		2.00	%		1.66	%		7.20	%		8.93	%
02/02/2009 - 12/31/2009			4,816			60,232		12.44		12.62		0.40	%		2.00	%		3.44	%		23.94	%		25.40	%
Lord Abbett International Core Equity Class VC (6)
06/14/2010 - 12/31/2010			30		$	365	$	12.13	$	12.14		0.75	%		0.95	%		1.42	%		18.52	%		18.52	%
Lord Abbett Total Return Class VC (6)
06/14/2010 - 12/31/2010			112		$	1,157	$	10.34	$	10.35		0.75	%		0.95	%		6.57	%		3.30	%		3.30	%
MFS Investors Growth Stock Series - Service Class (6)
11/15/2010 - 12/31/2010	See Note (7)			See Note (7)			$	11.85	$	11.85		0.75	%		0.75	%		0.00	%		5.18	%		5.18	%
MFS Value Series — Service Class (6)
06/14/2010 - 12/31/2010			54		$	627	$	11.57	$	11.58		0.75	%		0.95	%		0.00	%		13.98	%		13.98	%
PIMCO Global Multi-Asset — Advisor Class (6)
05/03/2010 - 12/31/2010			7,983		$	85,455	$	10.67	$	10.79		0.40	%		2.00	%		5.94	%		6.73	%		7.33	%
Jennison
2010			29		$	331	$	11.53	$	11.92		1.40	%		1.75	%		0.02	%		9.52	%		9.90	%
2009			38			401		10.53		10.84		1.40	%		1.75	%		0.28	%		40.11	%		40.60	%
2008			42			320		7.52		7.71		1.40	%		1.75	%		0.07	%		(38.64	%)		(38.43	%)
2007			46			568		12.25		12.52		1.40	%		1.75	%		0.00	%		9.61	%		10.00	%
2006			49			554		11.18		11.39		1.40	%		1.75	%		0.00	%		(0.39	%)		(0.04	%)
Value
2010			26		$	344	$	13.30	$	13.74		1.40	%		1.75	%		0.33	%		11.42	%		11.81	%
2009			31			374		11.94		12.29		1.40	%		1.75	%		1.59	%		38.94	%		39.42	%
2008			38			334		8.59		8.82		1.40	%		1.75	%		1.46	%		(43.56	%)		(43.36	%)
2007			50			771		15.22		15.56		1.40	%		1.75	%		0.99	%		1.03	%		1.39	%
2006			52			794		15.07		15.35		1.40	%		1.75	%		0.97	%		17.37	%		17.78	%
SP International Growth
2010			29		$	399	$	13.63	$	14.08		1.40	%		1.75	%		1.18	%		11.84	%		12.23	%
2009			30			363		12.18		12.54		1.40	%		1.75	%		1.30	%		34.07	%		34.54	%
2008			32			290		9.09		9.32		1.40	%		1.75	%		1.37	%		(51.35	%)		(51.18	%)
2007			37			704		18.68		19.10		1.40	%		1.75	%		0.37	%		17.05	%		17.46	%
2006			39			619		15.96		16.26		1.40	%		1.75	%		1.60	%		18.33	%		18.75	%

See Notes to Financial Statements See explanation of references on page H-25

H-24

SEPARATE ACCOUNT A
FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
	Total Units		Total												Investment
Variable Accounts	Outstanding		Net Assets		AUV (1)				Expense Ratio (2)						Income			Total Return (4)
For Each Year or Period Ended	(in 000’s)		(in $000’s)		Lowest		Highest		Lowest			Highest			Ratio (3)			Lowest			Highest
SP Prudential U.S. Emerging Growth
2010		16	$	277	$	17.04	$	17.60		1.40	%		1.75	%		0.22	%		17.88	%		18.29	%
2009		18		264		14.45		14.88		1.40	%		1.75	%		0.27	%		38.69	%		39.18	%
2008		19		197		10.42		10.69		1.40	%		1.75	%		0.00	%		(37.35	%)		(37.13	%)
2007		21		357		16.63		17.01		1.40	%		1.75	%		0.00	%		14.31	%		14.72	%
2006		21		314		14.55		14.82		1.40	%		1.75	%		0.00	%		7.21	%		7.58	%
JPMorgan Insurance Trust Core Bond
2010		80	$	1,058	$	12.99	$	13.17		1.40	%		1.60	%		3.89	%		7.50	%		7.72	%
2009		91		1,111		12.09		12.22		1.40	%		1.60	%		8.15	%		7.91	%		8.12	%
2008		86		970		11.20		11.30		1.40	%		1.60	%		5.64	%		(0.22	%)		(0.02	%)
2007		103		1,164		11.23		11.31		1.40	%		1.60	%		14.08	%		4.61	%		4.82	%
2006		5,228		56,363		10.73		10.79		1.40	%		1.60	%		6.69	%		2.49	%		2.69	%
JPMorgan Insurance Trust Equity Index
2010		22	$	247	$	11.13	$	11.28		1.40	%		1.60	%		2.15	%		12.59	%		12.82	%
2009		30		301		9.88		9.99		1.40	%		1.60	%		2.22	%		24.43	%		24.68	%
2008		29		236		7.94		8.02		1.40	%		1.60	%		2.18	%		(38.20	%)		(38.08	%)
2007		35		452		12.85		12.95		1.40	%		1.60	%		1.48	%		3.63	%		3.63	%
2006		40		498		12.43		12.49		1.40	%		1.40	%		1.32	%		13.82	%		13.82	%
JPMorgan Insurance Trust U.S. Equity
2010		3,173	$	39,951	$	12.44	$	12.61		1.40	%		1.60	%		1.05	%		11.77	%		12.00	%
2009		4,475		50,309		11.13		11.26		1.40	%		1.60	%		3.43	%		31.56	%		31.82	%
2008		6,739		57,486		8.46		8.54		1.40	%		1.60	%		1.55	%		(35.84	%)		(35.71	%)
2007		12,245		162,510		13.19		13.28		1.40	%		1.60	%	See Note (5)				8.91	%		8.91	%
2006		10		124		12.13		12.20		1.40	%		1.40	%		0.96	%		14.54	%		14.54	%
JPMorgan Insurance Trust Mid Cap Value
2010		12	$	164	$	13.17	$	13.35		1.40	%		1.60	%		1.12	%		21.50	%		21.74	%
2009		15		165		10.84		10.96		1.40	%		1.60	%		2.25	%		25.87	%		26.12	%
2008		17		145		8.61		8.69		1.40	%		1.60	%		1.47	%		(36.51	%)		(36.38	%)
2007		19		265		13.57		13.66		1.40	%		1.60	%		1.79	%		(0.69	%)		(0.49	%)
2006		24		327		13.66		13.73		1.40	%		1.60	%		2.33	%		14.87	%		15.10	%
JPMorgan Insurance Trust Intrepid Growth
2010		12	$	135	$	11.09	$	11.23		1.40	%		1.60	%		0.96	%		14.26	%		14.49	%
2009		13		128		9.70		9.81		1.40	%		1.60	%		0.72	%		32.19	%		32.45	%
2008		15		111		7.34		7.41		1.40	%		1.60	%		0.87	%		(40.19	%)		(40.07	%)
2007		14		174		12.27		12.36		1.40	%		1.60	%		0.49	%		9.77	%		9.99	%
2006		9,029		101,406		11.18		11.24		1.40	%		1.60	%		0.07	%		3.71	%		3.91	%
JPMorgan Insurance Trust Mid Cap Growth
2010		9	$	136	$	14.17	$	14.36		1.40	%		1.60	%		0.00	%		23.64	%		23.89	%
2009		9		104		11.46		11.59		1.40	%		1.60	%		0.00	%		40.77	%		41.05	%
2008		11		88		8.14		8.22		1.40	%		1.60	%		0.00	%		(44.68	%)		(44.57	%)
2007		13		194		14.72		14.83		1.40	%		1.60	%		0.00	%		15.37	%		15.60	%
2006		16		202		12.76		12.83		1.40	%		1.60	%		0.00	%		9.84	%		9.84	%

(1)	The AUV is presented as a range from lowest to highest based on the ending AUV for all product groupings as of December 31 of each year. The lowest and highest AUV may be the same for a variable account if there is only one product which has investments at the end of the year.
(2)	The expense ratios represent contract fees and expenses of the Separate Account for each period indicated. These ratios include only those expenses that result in a direct reduction of unit values. Excluded are expenses of the underlying portfolios/funds in which the variable accounts invest and charges made directly to contract owner accounts through the redemption of units (See Note 3 in Notes to Financial Statements). The expense ratios are presented as a range of lowest to highest based on the product groupings. The expense ratios for periods of less than one full year are annualized.
(3)	The investment income ratios represent the dividends, excluding distributions of capital gains, received by the variable accounts from the underlying portfolios/funds, divided by the average daily net assets. These ratios are before the deduction of mortality and expense risk (“M&E”) fees, administrative fees, and additional death benefit rider charges, if any, that are assessed against contract owner accounts. The recognition of investment income by the variable accounts is affected by the timing of the declaration of dividends by the underlying portfolios/funds in which the variable accounts invest. The investment income ratios for periods of less than one full year are annualized.
(4)	Total returns reflect changes in unit values of the underlying portfolios/funds and deductions for M&E fees, administrative fees, and additional death benefit rider charges, if any, assessed through the daily AUV calculation. These fees and charges are assessed at annual rates ranging from 0.40% to 2.00% based on the average daily net assets of each variable account as discussed in Note 3 in Notes to the Financial Statements. Total returns do not include deductions at the separate account or contract level for any premium loads, maintenance fees, premium tax charges, withdrawal and surrender charges, charges for other optional benefit riders, or other charges that may be incurred under a contract which, if incurred, would have resulted in lower returns. Total returns are presented as a range of lowest to highest values based on the product grouping representing the minimum to maximum expense ratio amounts. Total returns for those individual contracts which commenced operations during the year may not be within the ranges presented. Variable Accounts with a date notation indicate the inception date of that Variable Account. Total returns are calculated for each period indicated and are not annualized for periods of less than one full year.
(5)	Investment income ratio represents less than 0.005%.
(6)	Operations commenced during 2010 (See Note 1 in Notes to Financial Statements).
(7)	The total units outstanding in full was 102 and total net assets in full dollars was $1,210 as of December 31, 2010.

See Notes to Financial Statements

H-25

SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

     The Separate Account A (the “Separate Account”) is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and as of December 31, 2010 is comprised of sixty-one subaccounts called Variable Accounts. The assets in each of the Variable Accounts invest in the corresponding portfolios or funds (each, a “Portfolio” and collectively, the “Portfolios”) of Pacific Select Fund, an affiliated mutual fund (see Note 3), AIM Variable Insurance Funds (Invesco Variable Insurance Funds), AllianceBernstein Variable Products Series Fund, Inc., BlackRock Variable Series Funds, Inc., Franklin Templeton Variable Insurance Products Trust, GE Investments Funds, Inc., Lord Abbett Series Fund, Inc., MFS Variable Insurance Trust, PIMCO Variable Insurance Trust, Prudential Series Fund, Inc., and JPMorgan Insurance Trust (collectively, the “Funds”). All sixty-one Variable Accounts are presented in the Schedule of Investments in Section G of this brochure.

     Cash Management, Dividend Growth, Invesco V.I. Global Multi-Asset Series II, Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II, and JPMorgan Insurance Trust Mid Cap Growth Variable Accounts and Portfolios/Funds were formerly named Money Market, Diversified Research, AIM V.I. PowerShares ETF Allocation Series II, Van Kampen LIT Global Tactical Asset Allocation Class II, and JPMorgan Insurance Trust Diversified Mid Cap Growth Variable Accounts and Portfolios/Funds, respectively.

     The Separate Account organized and registered with the Securities and Exchange Commission (“SEC”) the following nine new Variable Accounts, all of which commenced operations during 2010:

	Commenced		Commenced
Variable Accounts	Operations on	Variable Accounts	Operations on
BlackRock Capital Appreciation V.I. Class III	June 14, 2010	Lord Abbett Total Return Class VC	June 14, 2010
Franklin Templeton VIP Founding Funds Allocation Class 2	June 1, 2010	MFS Investors Growth Stock Series — Service Class	November 15, 2010
Mutual Global Discovery Securities Class 2	June 14, 2010	MFS Value Series — Service Class	June 14, 2010
Templeton Global Bond Securities Class 2	June 15, 2010	PIMCO Global Multi-Asset — Advisor Class	May 3, 2010
Lord Abbett International Core Equity Class VC	June 14, 2010

     Each Portfolio pursues different investment objectives and policies. The financial statements of the Funds, including the schedules of investments, are either included in Sections A through F of this brochure or provided separately and should be read in conjunction with the Separate Account’s financial statements.

     The net assets of the Pacific Select Fund’s Equity and Multi-Strategy Portfolios, the underlying portfolios for the Equity and Multi-Strategy Variable Accounts, respectively, were transferred to the Pacific Select Fund’s Main Street Core and Managed Bond Portfolios (the “Surviving Portfolios”), the underlying portfolios for the Main Street Core and Managed Bond Variable Accounts, respectively, in exchange for shares of the Surviving Portfolios (the “Reorganization”). The Reorganization took place on October 29, 2010. In connection with the Reorganization, a total of 6,438,236 outstanding accumulation units (valued at $77,364,214) of the Equity Variable Account were exchanged for 5,213,481 accumulation units with equal value of the Main Street Core Variable Account, and a total of 6,803,529 outstanding accumulation units (valued at $86,971,285) of the Multi-Strategy Variable Account were exchanged for 3,365,605 accumulation units (valued at $47,834,207) of the Main Street Core Variable Account and 1,844,793 accumulation units (valued at $39,137,078) of the Managed Bond Variable Account.

     The Separate Account was established by Pacific Life Insurance Company (“Pacific Life”) on September 7, 1994 and commenced operations on January 2, 1996. Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the other assets and liabilities of Pacific Life. The assets of the Separate Account will not be charged with any liabilities arising out of any other business conducted by Pacific Life, but the obligations of the Separate Account, including benefits related to variable annuity contracts, are obligations of Pacific Life.

     The Separate Account funds individual flexible premium variable accumulation deferred annuity contracts (the “Contracts”). The investments of the Separate Account are carried at market value.

2. SIGNIFICANT ACCOUNTING POLICIES

     The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for investment companies which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates.

     A. Valuation of Investments and Fair Value Measurements

     Investments in shares of the Portfolios are valued at the reported net asset values of the respective Portfolios. Valuation of securities held by the Funds is discussed in the notes to their financial statements.

     B. Security Transactions and Investment Income

     Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date and the amounts distributed to the Variable Account for its share of dividends are reinvested in additional full and fractional shares of the related Portfolios.

I-1

SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (Continued)

     C. Federal Income Taxes

     The operations of the Separate Account will be reported on the Federal income tax return of Pacific Life, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. Under current tax law, no Federal income taxes are expected to be paid by Pacific Life with respect to the operations of the Separate Account. Pacific Life will periodically review the status of this policy in the event of changes in the tax law. A charge may be made in future years for any Federal income taxes that would be attributable to the Contracts.

     D. Contracts in Payout Period

     Net assets allocated to Contracts in payout period are computed, on a current basis, according to the Annuity 2000 Mortality Table. The assumed investment return is 5.0 percent unless the annuitant elects otherwise, in which case the rate may vary from 3.5 percent to 7.0 percent, as regulated by the laws of the respective states. The mortality risk is fully borne by Pacific Life and may result in additional amounts being transferred into the Variable Accounts by Pacific Life to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed the amounts required, transfers may be made to Pacific Life.

3. CHARGES AND EXPENSES AND RELATED PARTY TRANSACTIONS

     Contracts funded by the Separate Account currently being sold or administered include the Pacific One, Pacific Portfolios, Pacific Value, Pacific Innovations, Pacific Innovations Select, Pacific One Select, Pacific Odyssey, Pacific Voyages, Pacific Journey, Pacific Value Edge, and Pacific Destinations. Pacific Value, Pacific Innovations, Pacific Innovations Select, Pacific One Select (issued prior to August 1, 2006), and Pacific Odyssey Contracts have three different death benefit options: the Standard Death Benefit Rider, the Stepped-Up Death Benefit Rider, and for Contracts issued before May 1, 2003, the Premier Death Benefit Rider. Pacific One, Pacific Portfolios, Pacific One Select (issued on or after August 1, 2006), Pacific Voyages, Pacific Journey, Pacific Value Edge, and Pacific Destinations Contracts have two different death benefit options: the Standard Death Benefit Rider and the Stepped-Up Death Benefit Rider.

     Pacific Life deducts from the Separate Account daily charges for mortality and expense risks (“M&E”) and administrative expenses Pacific Life assumes, and additional death benefit rider charges for Contract owners who purchased the Stepped-Up Death Benefit Rider or the Premier Death Benefit Rider. These two additional death benefit rider charges are included in M&E in the accompanying Statements of Operations. The mortality risk assumed by Pacific Life is the risk that the annuitant will live longer than predicted and will receive more annuity payments than anticipated. Pacific Life also assumes mortality risk in connection with any death benefit paid under the Contracts. The expense risk assumed is where expenses incurred in administering the Contracts and the Separate Account will exceed the amounts realized from fees and charges assessed against the Contracts. These charges are assessed daily at the following annual rates on the average daily net assets of each Variable Account that result in a direct reduction in unit values:

	Death Benefit Options
				With			With
	Standard			Stepped-Up			Premier
Pacific One and Pacific	Death			Death			Death
Portfolios Contracts	Benefit			Benefit Rider			Benefit Rider
M&E Charge		1.25	%		1.25	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge	None				0.20	%
Total Annual Expenses		1.40	%		1.60	%
Pacific Value and Pacific Innovations Contracts
M&E Charge		1.25	%		1.25	%		1.25	%
Administrative Fee		0.15	%		0.15	%		0.15	%
Death Benefit Rider Charge	None				0.20	%		0.35	%
Total Annual Expenses		1.40	%		1.60	%		1.75	%
Pacific Odyssey Contracts
M&E Charge		0.15	%		0.15	%		0.15	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge	None				0.20	%		0.35	%
Total Annual Expenses		0.40	%		0.60	%		0.75	%
Pacific Voyages Contracts
M&E Charge		1.00	%		1.00	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge	None				0.20	%
Total Annual Expenses		1.15	%		1.35	%
Pacific One Select (issued prior to 8/1/2006) and Pacific Innovations Select Contracts
M&E Charge		1.40	%		1.40	%		1.40	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge	None				0.20	%		0.35	%
Total Annual Expenses		1.65	%		1.85	%		2.00	%
Pacific One Select (issued on or after 8/1/2006) and Pacific Value Edge Contracts
M&E Charge		1.50	%		1.50	%
Administrative Fee		0.25	%		0.25	%
Death Benefit Rider Charge	None				0.20	%
Total Annual Expenses		1.75	%		1.95	%
Pacific Journey Contracts
M&E Charge		0.90	%		0.90	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge	None				0.20	%
Total Annual Expenses		1.05	%		1.25	%
Pacific Destinations Contracts
M&E Charge		0.60	%		0.60	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge	None				0.20	%
Total Annual Expenses		0.75	%		0.95	%

I-2

SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (Continued)

     Under the Contracts, Pacific Life makes certain deductions from the net assets of each Variable Account through a redemption of units for maintenance fees, any other optional benefit riders, any state premium taxes, and any withdrawal and surrender charges, and are shown as a decrease in Contract owner transactions in the accompanying Statements of Changes in Net Assets. For some Contracts, a surrender charge is imposed if the Contract is partially or fully surrendered within the specified surrender charge period and charges will vary depending on the individual Contracts. Most Contracts offer optional benefits that can be added to the contract by rider. The charges for riders can range depending on the individual contract. These fees and charges are assessed directly to each Contract owner account through a redemption of units. Withdrawal and surrender charges are included in surrenders and all other fees and charges are included in contract charges and deductions in the accompanying Statements of Changes in Net Assets. The operating expenses of the Separate Account are paid by Pacific Life and are not reflected in the accompanying financial statements.

     In addition to the Separate Account’s own operating expenses, they also indirectly bear a portion of the operating expenses of the applicable Portfolios/Funds in which the Variable Accounts invest.

     The assets of certain Variable Accounts invest in shares of the corresponding Portfolios of Pacific Select Fund (“PSF”), an affiliated mutual fund. Each Portfolio of PSF pays advisory fees to Pacific Life Fund Advisors, LLC (“PLFA”), a wholly-owned subsidiary of Pacific Life, pursuant to PSF’s Investment Advisory Agreement and pays service fees to Pacific Select Distributors, Inc. (“PSD”), also a wholly-owned subsidiary of Pacific Life, for providing shareholder servicing activities under PSF’s Service Plan. Each Portfolio of PSF also compensates Pacific Life and PLFA on an approximate cost basis pursuant to PSF’s Agreement for Support Services for providing services to PSF that are outside the scope of the Investment Adviser’s responsibilities under the Investment Advisory Agreement. The advisory fee and service fee rates are disclosed in Note 3 in Notes to the Financial Statements of PSF, which are included in Section D of this brochure. For the year ended December 31, 2010, PLFA received advisory fees from PSF at effective annual rates ranging from 0.05% to 0.90% which are based on an annual percentage of average daily net assets of each Portfolio of PSF and PSD received a service fee of 0.20% from PSF based on an annual percentage of average daily net assets of each Portfolio of PSF.

4. RELATED PARTY AGREEMENT

     PSD serves as principal underwriter of the Contracts funded by interests in the Separate Account, without remuneration from the Separate Account.

5. PURCHASES AND SALES OF INVESTMENTS

     The cost of purchases and proceeds from sales of investments for the year or periods ended December 31, 2010, were as follows (amounts in thousands):

Variable Accounts	Purchases		Sales
Cash Management	$	352,122	$	514,523
Diversified Bond		1,009,632		301,266
Floating Rate Loan		173,457		115,993
High Yield Bond		206,890		219,759
Inflation Managed		411,305		436,840
Managed Bond		1,517,581		566,566
Short Duration Bond		289,089		181,184
American Funds Growth		40,660		123,125
American Funds Growth-Income		40,736		275,351
Comstock		67,045		239,656
Dividend Growth		567,983		74,908
Equity Index		88,902		1,463,956
Focused 30		19,107		59,647
Growth LT		53,259		153,873
Large-Cap Growth		40,353		130,480
Large-Cap Value		103,858		493,108
Long/Short Large-Cap		65,171		115,449
Main Street Core		160,161		249,799
Mid-Cap Equity		51,172		308,764
Mid-Cap Growth		55,835		249,669
Mid-Cap Value		56,085		166,887
Small-Cap Equity		302,472		92,155
Small-Cap Growth		35,366		116,369
Small-Cap Index		23,890		53,929
Small-Cap Value		52,676		233,961
Health Sciences		25,089		24,394
Real Estate		33,731		160,846
Technology		23,830		28,850
Emerging Markets		76,800		334,247
International Large-Cap		67,712		374,506
International Small-Cap		55,842		126,897
International Value		80,755		460,812
American Funds Asset Allocation		94,009		30,408
Pacific Dynamix — Conservative Growth		101,468		14,915
Pacific Dynamix — Moderate Growth		87,661		9,880
Pacific Dynamix — Growth		61,830		16,095
Invesco V.I. Global Multi-Asset Series II		25,082		14,398
Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II		30,404		47,963
AllianceBernstein VPS Balanced Wealth Strategy Class B		35,352		17,277
BlackRock Capital Appreciation V.I. Class III (1)		425		10
BlackRock Global Allocation V.I. Class III		250,158		262,734
Franklin Templeton VIP Founding Funds Allocation Class 2 (1)		467		5
Franklin Templeton VIP Founding Funds Allocation Class 4		64,777		43,781
Mutual Global Discovery Securities Class 2 (1)		628		1
Templeton Global Bond Securities Class 2 (1)		37		—
GE Investments Total Return Class 3		89,448		8,782
Lord Abbett International Core Equity Class VC (1)		356		17
Lord Abbett Total Return Class VC (1)		1,206		18
MFS Investors Growth Series — Service Class (1), (2)		1		—
MFS Value Series — Service Class (1)		587		8
PIMCO Global Multi-Asset — Advisor Class (1)		87,316		5,045
Jennison		—		101
Value		2		70
SP International Growth		5		14
SP Prudential U.S. Emerging Growth		1		33
JPMorgan Insurance Trust Core Bond		271		387
JPMorgan Insurance Trust Equity Index		5		86
JPMorgan Insurance Trust U.S. Equity		568		16,018
JPMorgan Insurance Trust Mid Cap Value		2		36
JPMorgan Insurance Trust Intrepid Growth		27		37
JPMorgan Insurance Trust Mid Cap Growth		19		16

(1)	Operations commenced during 2010 (See Note 1).
(2)	The cost of purchases and proceeds from sales of investments in full dollars were $1,172 and $0, respectively.

I-3

SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (Continued)

6. FAIR VALUE MEASUREMENTS

     The Separate Account characterizes its holdings as Level 1, Level 2 or Level 3 based upon the various inputs or methodologies used to value the holdings. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

     Level 1 — Quoted prices (unadjusted) in active markets for identical holdings

     Level 2 — Significant observable market-based inputs, other than Level 1 quoted prices, or unobservable inputs that are corroborated by market data

     Level 3 — Significant unobservable inputs that are not corroborated by observable market data

     The inputs or methodologies used for valuing the Separate Account’s holdings are not necessarily an indication of risks associated with investing in those holdings. As of December 31, 2010, the Separate Account’s holdings as presented in the Schedule of Investments in Section G of this brochure were all categorized as Level 1 under the three-tier hierarchy of inputs.

7. CHANGES IN UNITS OUTSTANDING

     The changes in units outstanding for the years or periods ended December 31, 2010 and 2009 were as follows (amounts in thousands):

	2010								2009
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
Cash Management		49,399		(62,459	)		(13,060	)		55,848		(90,808	)		(34,960	)
Diversified Bond		113,643		(51,661	)		61,982			56,363		(59,705	)		(3,342	)
Floating Rate Loan		31,908		(28,727	)		3,181			42,279		(25,677	)		16,602
High Yield Bond		18,415		(22,543	)		(4,128	)		34,706		(18,405	)		16,301
Inflation Managed		48,131		(47,246	)		885			54,974		(74,688	)		(19,714	)
Managed Bond		108,707		(56,847	)		51,860			64,155		(75,571	)		(11,416	)
Short Duration Bond		45,477		(35,276	)		10,201			42,377		(65,457	)		(23,080	)
American Funds Growth		11,394		(17,692	)		(6,298	)		23,298		(85,304	)		(62,006	)
American Funds Growth-Income		15,778		(37,012	)		(21,234	)		27,974		(26,114	)		1,860
Comstock		21,013		(38,514	)		(17,501	)		60,725		(35,706	)		25,019
Dividend Growth		62,686		(12,945	)		49,741			10,637		(48,640	)		(38,003	)
Equity Index		19,230		(123,740	)		(104,510	)		160,363		(30,578	)		129,785
Focused 30		2,790		(5,853	)		(3,063	)		8,808		(34,073	)		(25,265	)
Growth LT		11,285		(16,556	)		(5,271	)		19,025		(17,819	)		1,206
Large-Cap Growth		22,213		(34,331	)		(12,118	)		112,508		(28,128	)		84,380
Large-Cap Value		28,059		(61,306	)		(33,247	)		109,567		(37,497	)		72,070
Long/Short Large-Cap		22,002		(26,908	)		(4,906	)		85,000		(20,652	)		64,348
Main Street Core		19,124		(27,627	)		(8,503	)		20,697		(58,960	)		(38,263	)
Mid-Cap Equity		10,982		(24,623	)		(13,641	)		30,066		(139,280	)		(109,214	)
Mid-Cap Growth		15,313		(34,835	)		(19,522	)		54,217		(27,890	)		26,327
Mid-Cap Value (1)		12,256		(19,624	)		(7,368	)		84,938		(8,081	)		76,857
Small-Cap Equity		28,874		(13,064	)		15,810			9,838		(15,127	)		(5,289	)
Small-Cap Growth		8,389		(15,025	)		(6,636	)		12,769		(30,578	)		(17,809	)
Small-Cap Index		2,792		(4,814	)		(2,022	)		3,362		(5,480	)		(2,118	)
Small-Cap Value		5,611		(15,439	)		(9,828	)		16,947		(7,920	)		9,027
Health Sciences		2,445		(2,386	)		59			2,280		(3,155	)		(875	)
Real Estate		4,155		(9,884	)		(5,729	)		10,748		(8,216	)		2,532
Technology		4,993		(5,954	)		(961	)		7,482		(5,305	)		2,177
Emerging Markets		7,983		(16,471	)		(8,488	)		16,345		(18,306	)		(1,961	)
International Large-Cap		21,103		(48,781	)		(27,678	)		39,530		(49,742	)		(10,212	)
International Small-Cap		16,009		(26,925	)		(10,916	)		40,618		(23,739	)		16,879
International Value		19,695		(57,742	)		(38,047	)		43,799		(102,159	)		(58,360	)
American Funds Asset Allocation (2)		8,349		(3,323	)		5,026			12,958		(2,620	)		10,338
Pacific Dynamix — Conservative Growth (3)		8,538		(1,543	)		6,995			2,920		(275	)		2,645
Pacific Dynamix — Moderate Growth (3)		7,295		(1,176	)		6,119			5,075		(271	)		4,804
Pacific Dynamix — Growth (3)		4,847		(1,493	)		3,354			3,977		(637	)		3,340
Invesco V.I. Global Multi-Asset Series II (2)		1,961		(1,178	)		783			2,833		(300	)		2,533
Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II (4)		2,845		(4,345	)		(1,500	)		7,343		(603	)		6,740
AllianceBernstein VPS Balanced Wealth Strategy Class B		4,190		(2,349	)		1,841			7,569		(2,320	)		5,249

(1)	Operations commenced on May 1, 2009.
(2)	Operations commenced on February 2, 2009.
(3)	Operations commenced on May 4, 2009.
(4)	Operations commenced on February 6, 2009.

I-4

SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (Continued)

	2010								2009
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
BlackRock Capital Appreciation V.I. Class III (1)		40		(2	)		38
BlackRock Global Allocation V.I. Class III		38,650		(40,989	)		(2,339	)		91,383		(28,582	)		62,801
Franklin Templeton VIP Founding Funds Allocation Class 2 (1)		47		(1	)		46
Franklin Templeton VIP Founding Funds Allocation Class 4		8,651		(6,485	)		2,166			15,639		(6,267	)		9,372
Mutual Global Discovery Securities Class 2 (1)		60		(2	)		58
Templeton Global Bond Securities Class 2 (1)		3		—			3
GE Investments Total Return Class 3 (2)		7,691		(1,263	)		6,428			9,119		(4,303	)		4,816
Lord Abbett International Core Equity Class VC (1)		33		(3	)		30
Lord Abbett Total Return Class VC (1)		116		(4	)		112
MFS Investors Growth Stock Series — Service Class (1), (3)		—		—			—
MFS Value Series — Service Class (1)		56		(2	)		54
PIMCO Global Multi-Asset — Advisor Class (1)		8,727		(744	)		7,983
Jennison		—		(9	)		(9	)		—		(4	)		(4	)
Value		—		(5	)		(5	)		1		(8	)		(7	)
SP International Growth		—		(1	)		(1	)		1		(3	)		(2	)
SP Prudential U.S. Emerging Growth		—		(2	)		(2	)		—		(1	)		(1	)
JPMorgan Insurance Trust Core Bond		12		(23	)		(11	)		16		(11	)		5
JPMorgan Insurance Trust Equity Index		—		(8	)		(8	)		8		(7	)		1
JPMorgan Insurance Trust U.S. Equity		88		(1,390	)		(1,302	)		140		(2,404	)		(2,264	)
JPMorgan Insurance Trust Mid Cap Value		—		(3	)		(3	)		—		(2	)		(2	)
JPMorgan Insurance Trust Intrepid Growth		3		(4	)		(1	)		1		(3	)		(2	)
JPMorgan Insurance Trust Mid Cap Growth		2		(2	)		—			—		(2	)		(2	)

(1)	Operations commenced during 2010 (See Note 1).
(2)	Operations commenced on February 2, 2009.
(3)	Total units issued in full was 102 during the period. No units were redeemed during the period.

I-5

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors
Pacific Life Insurance Company:

     We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Separate Account A (the “Separate Account”) comprised of Cash Management (formerly named Money Market), Diversified Bond, Floating Rate Loan, High Yield Bond, Inflation Managed, Managed Bond, Short Duration Bond, American Funds^® Growth, American Funds Growth-Income, Comstock, Dividend Growth (formerly named Diversified Research), Equity Index, Focused 30, Growth LT, Large-Cap Growth, Large-Cap Value, Long/Short Large-Cap, Main Street^® Core, Mid-Cap Equity, Mid-Cap Growth, Mid-Cap Value, Small-Cap Equity, Small-Cap Growth, Small-Cap Index, Small-Cap Value, Health Sciences, Real Estate, Technology, Emerging Markets, International Large-Cap, International Small-Cap, International Value, American Funds Asset Allocation, Pacific Dynamix — Conservative Growth, Pacific Dynamix — Moderate Growth, Pacific Dynamix — Growth, Invesco V.I. Global Multi-Asset Series II (formerly named AIM V.I. PowerShares ETF Allocation Series II), Invesco Van Kampen V.I. Global Tactical Asset Allocation Series II (formerly named Van Kampen LIT Global Tactical Asset Allocation Class II), AllianceBernstein VPS Balanced Wealth Strategy Class B, BlackRock Capital Appreciation V.I. Class III, BlackRock Global Allocation V.I. Class III, Franklin Templeton VIP Founding Funds Allocation Class 2, Franklin Templeton VIP Founding Funds Allocation Class 4, Mutual Global Discovery Securities Class 2, Templeton Global Bond Securities Class 2, GE Investments Total Return Class 3, Lord Abbett International Core Equity Class VC, Lord Abbett Total Return Class VC, MFS Investors Growth Stock Series — Service Class, MFS Value Series — Service Class, PIMCO Global Multi-Asset — Advisor Class, Jennison, Value, SP International Growth, SP Prudential U.S. Emerging Growth, JPMorgan Insurance Trust Core Bond, JPMorgan Insurance Trust Equity Index, JPMorgan Insurance Trust U.S. Equity, JPMorgan Insurance Trust Mid Cap Value, JPMorgan Insurance Trust Intrepid Growth, and JPMorgan Insurance Trust Mid Cap Growth (formerly named JPMorgan Insurance Trust Diversified Mid Cap Growth) Variable Accounts (collectively, the “Variable Accounts”) as of December 31, 2010, the related statements of operations for the year or period presented, and the statements of changes in net assets and financial highlights for each of the periods presented. These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

     We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Separate Account is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Separate Account’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of mutual fund investments owned as of December 31, 2010 by correspondence with the transfer agents. We believe that our audits provide a reasonable basis for our opinion.

     In our opinion, such financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the respective Variable Accounts constituting Separate Account A as of December 31, 2010, the results of their operations for the year or period then ended, the changes in their net assets and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Costa Mesa, California
February 28, 2011

J-1

Pacific Life Insurance Company

Mailing Address:

P.O. Box 2378

Omaha, Nebraska 68103-2378

Annual Reports

as of December 31, 2010

•  Pacific Select Fund

•  Separate Account A of
Pacific Life Insurance Company

Form No. 2143-11A