EX-99.11 5 plicfinstmtschedules-12311.htm PLIC FIN STMT SCHED - 12/31/15 Exhibit


Schedule I - Summary of Investments - Other Than Investments in Related Parties
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount as
 
 
 
 
 
 
 
 
 
 
 
shown in the
 
 
 
 
 
 
 
 
 
 
 
consolidated
 
 
 
 
 
 
 
 
 
 
 
statement of
 
 
 
 
 
 
 
 
 
 
 
financial
Type of Investment
 
Cost
 
Value
 
position
 
 
 
 
 
(in millions)
Fixed maturities, available-for-sale:
 
 
 
 
 
 
 
 
 
 
U.S Treasury securities and obligations of U.S government
 
 
 
 
 
 
 
 
 
 
 
corporations and agencies
 
$
1,423.5
 
$
1,438.7
 
$
1,438.7
 
States, municipalities and political subdivisions
 
 
4,450.6
 
 
4,664.3
 
 
4,664.3
 
Foreign governments
 
 
349.7
 
 
424.0
 
 
424.0
 
Public utilities
 
 
3,283.0
 
 
3,443.7
 
 
3,443.7
 
Redeemable preferred stock
 
 
56.7
 
 
59.1
 
 
59.1
 
All other corporate bonds
 
 
24,213.0
 
 
24,772.3
 
 
24,772.3
 
Residential mortgage-backed securities
 
 
2,537.1
 
 
2,614.2
 
 
2,614.2
 
Commercial mortgage-backed securities
 
 
3,862.2
 
 
3,850.0
 
 
3,850.0
 
Collateralized debt obligations
 
 
688.8
 
 
663.7
 
 
663.6
 
Other debt obligations
 
 
4,529.7
 
 
4,533.5
 
 
4,533.5
 
 
Total fixed maturities, available-for-sale
 
 
45,394.3
 
 
46,463.4
 
 
46,463.4
Fixed maturities, trading
 
 
538.8
 
 
538.8
 
 
538.8
Equity securities, available-for-sale:
 
 
 
 
 
 
 
 
 
 
Banks, trust and insurance companies
 
 
48.3
 
 
35.5
 
 
35.5
 
Industrial, miscellaneous and all other
 
 
3.1
 
 
2.2
 
 
2.1
 
Non-redeemable preferred stock
 
 
58.8
 
 
64.2
 
 
64.2
 
 
Total equity securities, available-for-sale
 
 
110.2
 
 
101.8
 
 
101.8
Equity securities, trading
 
 
204.4
 
 
204.4
 
 
204.4
Mortgage loans (1)
 
 
11,842.4
 
 
XXXX
 
 
11,791.0
Real estate, net:
 
 
 
 
 
 
 
 
 
 
Real estate acquired in satisfaction of debt (3)
 
 
115.6
 
 
XXXX
 
 
110.3
 
Other real estate
 
 
1,336.9
 
 
XXXX
 
 
1,336.9
Policy loans
 
 
786.3
 
 
XXXX
 
 
786.3
Other investments (2)
 
 
1,378.6
 
 
XXXX
 
 
1,378.0
 
 
Total investments
 
$
61,707.5
 
 
XXXX
 
$
62,710.9

(1) The amount shown in the consolidated statement of financial position for mortgage loans differs from cost as mortgage
loans are generally reported at cost adjusted for amortization of premiums and accrual of discounts, computed using the interest method and net of valuation allowances.
(2) The amount shown in the consolidated statement of financial position for real estate differs from cost as real estate is generally reported at cost adjusted for valuation allowances.
(3) The amount shown in the consolidated statement of financial position for other investments differs from cost due to
accumulated earnings from minority interests in unconsolidated entities and properties owned jointly with venture
partners and operated by the partners. Other investments also includes derivative assets and certain seed money
investments, which are reported at fair value, and commercial mortgage loans of consolidated VIEs for which the fair
value option was elected.




Schedule III - Supplementary Insurance Information
As of December 31, 2015 and 2014 and for each of the years ended December 31, 2015, 2014 and 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contractholder
 
 
 
Deferred
 
Future policy
 
and other
 
 
 
acquisition
 
benefits and
 
policyholder
Segment
 
costs
 
claims
 
funds
 
 
 
(in millions)
2015:
 
 
 
 
 
 
 
 
 
Retirement and Income Solutions
 
$
854.0
 
$
13,229.8
 
$
28,651.5
Principal Global Investors
 
 
—
 
 
—
 
 
—
U.S. Insurance Solutions
 
 
2,203.3
 
 
8,569.9
 
 
5,217.1
Corporate
 
 
0
 
 
38.6
 
 
2.5
 
Total
 
$
3,057.3
 
$
21,838.3
 
$
33,871.1
 
 
 
 
 
 
 
 
 
 
 
2014:
 
 
 
 
 
 
 
 
 
Retirement and Income Solutions
 
$
797.2
 
$
11,274.2
 
$
28,968.5
Principal Global Investors
 
 
—
 
 
—
 
 
—
U.S. Insurance Solutions
 
 
1,957.4
 
 
8,379.4
 
 
5,201.3
Corporate
 
 
—
 
 
38.0
 
 
2.7
 
Total
 
$
2,754.6
 
$
19,691.6
 
$
34,172.5






Schedule III - Supplementary Insurance Information - (continued)
As of December 31, 2015 and 2014 and for each of the years ended December 31, 2015, 2014 and 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of
 
 
 
 
 
Premiums and
 
Net
 
Benefits, claims
 
deferred
 
Other
 
 
 
other
 
investment
 
and settlement
 
acquisition
 
operating
Segment
 
considerations
 
income (1)
 
expenses
 
costs
 
expenses (1)
 
 
 
(in millions)
2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retirement and Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Solutions
 
$
3,011.4
 
$
1,749.0
 
$
4,158.4
 
$
158.2
 
$
1,126.8
Principal Global Investors
 
 
—
 
 
10.9
 
 
—
 
 
—
 
 
502.9
U.S. Insurance Solutions
 
 
2,045.9
 
 
714.7
 
 
1,963.5
 
 
93.5
 
 
783.6
Corporate
 
 
0.1
 
 
77.4
 
 
13.2
 
 
—
 
 
(66.2)
 
Total
 
$
5,057.4
 
$
2,552.0
 
$
6,135.1
 
$
251.7
 
$
2,347.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retirement and Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Solutions
 
$
1,584.5
 
$
1,857.7
 
$
2,766.9
 
$
163.6
 
$
1,056.9
Principal Global Investors
 
 
—
 
 
12.1
 
 
—
 
 
—
 
 
496.3
U.S. Insurance Solutions
 
 
1,913.8
 
 
711.8
 
 
1,847.9
 
 
184.9
 
 
710.4
Corporate
 
 
(1.1)
 
 
81.9
 
 
(4.8)
 
 
—
 
 
(8.9)
 
Total
 
$
3,497.2
 
$
2,663.5
 
$
4,610.0
 
$
348.5
 
$
2,254.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retirement and Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Solutions
 
$
1,045.5
 
$
1,933.1
 
$
2,303.4
 
$
75.0
 
$
1,032.3
Principal Global Investors
 
 
—
 
 
16.3
 
 
0
 
 
—
 
 
513.2
U.S. Insurance Solutions
 
 
1,816.5
 
 
684.7
 
 
1,826.0
 
 
95.6
 
 
675.1
Corporate
 
 
0.4
 
 
47.4
 
 
(14.9)
 
 
—
 
 
(14.9)
 
Total
 
$
2,862.4
 
$
2,681.5
 
$
4,114.5
 
$
170.6
 
$
2,205.7

(1) Allocations of net investment income and certain operating expenses are based on a number of assumptions and estimates, and reported operating results would change by segment if different methods were applied.





Principal Life Insurance Company
Notes to Consolidated Financial Statements
December 31, 2015

Schedule IV - Reinsurance
As of December 31, 2015, 2014 and 2013 and for each of the years then ended
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage
 
 
 
 
 
 
Ceded to
 
Assumed
 
 
 
of amount
 
 
 
 
Gross
 
other
 
from other
 
 
 
assumed
 
 
 
 
amount
 
companies
 
companies
 
Net amount
 
to net
 
 
 
 
($ in millions)
 
2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance in force
 
$
388,720.1
 
$
183,503.7
 
$
1,187.1
 
$
206,403.5
 
0.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance
 
$
3,773.7
 
$
254.5
 
$
183.2
 
$
3,702.4
 
4.9
%
 
Accident and health insurance
 
 
1,502.1
 
 
147.1
 
 
—
 
 
1,355.0
 
—
%
 
 
Total
 
$
5,275.8
 
$
401.6
 
$
183.2
 
$
5,057.4
 
3.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance in force
 
$
352,800.8
 
$
176,168.5
 
$
1,317.7
 
$
177,950.0
 
0.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance
 
$
2,357.1
 
$
227.3
 
$
143.9
 
$
2,273.7
 
6.3
%
 
Accident and health insurance
 
 
1,398.3
 
 
174.8
 
 
—
 
 
1,223.5
 
—
%
 
 
Total
 
$
3,755.4
 
$
402.1
 
$
143.9
 
$
3,497.2
 
4.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance in force
 
$
314,777.5
 
$
142,623.2
 
$
1,455.4
 
$
173,609.7
 
0.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life insurance
 
$
1,824.9
 
$
204.4
 
$
102.0
 
$
1,722.5
 
5.9
%
 
Accident and health insurance
 
 
1,307.9
 
 
168.0
 
 
—
 
 
1,139.9
 
—
%
 
 
Total
 
$
3,132.8
 
$
372.4
 
$
102.0
 
$
2,862.4
 
3.6
%