Assets
Midland National Life Insurance Co. Balance Sheet as of 12/31/08 (in thousands)
| Assets |
| Bonds |
$21,917,205 |
| Stocks |
494,196 |
| Cash & Short-Term Investments |
44,072 |
| Mortgage Loans & Real Estate |
241,606 |
| Loans to Policyholders |
314,111 |
| Other Investments |
758,918 |
| Premiums in Course of Collection |
127,250 |
| Accrued Investment Income |
221,270 |
| Separate Account Assets |
1,067,136 |
| All Other Assets |
223,048 |
| Total Assets |
$25,408,812 |
| Liabilities & Capital |
| Life & Annuity Reserves |
$15,598,562 |
| Policyholder Funds |
343,623 |
| Accounts Payable & Other Liabilities |
7,168,907 |
| Separate Account Liabilities |
1,057,376 |
| Total Liabilities |
$24,168,468 |
| Capital |
$2,549 |
| Surplus |
1,237,795 |
| Capital & Surplus |
1,240,344 |
| Total Liabilities, Capital & Surplus |
$25,408,812 |
High Quality Investments
Midland National’s asset quality is excellent. Overall net investment income provides ample margins to cover contractual obligations to all policyholders.
Bonds consist of U.S. Government, government agency and corporate securities. Approximately 94% are publicly traded, with five percent in non-investment grade bonds.
Stocks consist primarily of public utilities, adjustable rate preferred and other publicly related securities.
Short-term investments consist of commercial paper, money market funds and other high-quality, short-maturity investments.
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| Investments by Type |
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92.2% Bonds |
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4.2% Other Investments |
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2.1% Stocks |
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1.3% Policy Loans |
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0.2% Cash & Short-Term Investments |
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| Bonds by NAIC Quality Rating |
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| 95% Investment Grade |
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75% NAIC Class 1 |
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20% NAIC Class 2 |
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5% Non-Investment Grade |
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