Protective Life Corporation (NYSE:PL) Files An 8-K Other Events

ME Staff 8-k

6 years ago

Protective Life Corporation (NYSE:PL) Files An 8-K Other EventsItem 8.01 Other Events.

In order to provide additional information regarding the acquisition via reinsurance of the Life Business, Protective is filing as Exhibit99.1 to this Current Report the Audited Statement of Assets and Liabilities and the Statement of Revenues and Direct Expenses of the Life Business at December31, 2017 and for the year ended December31, 2017. Additionally, Protective is filing as Exhibit99.2 to this Current Report Unaudited Pro Forma Condensed Combined Financial Information (“Pro Forma Financial Information”) as of and for the year ended December31, 2017. We have prepared the Pro Forma Financial Information to illustrate what our financial condition and our results of operations would have been if we had completed the acquisition of the Life Business as of the dates indicated in the Pro Forma Financial Information. In preparing the Pro Forma Financial Information, we have used certain assumptions which at the time of preparation we believed were reasonable. However, we cannot provide assurance that any or all of our assumptions will prove to be correct. Our actual financial condition and our actual results of operation following the completion of the acquisition may be materially different than presented herein.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Business Acquired.

The Audited Statement of Assets and Liabilities of the Life Business as of December31, 2017 and Statement of Revenues and Direct Expenses for the year ended December31, 2017 (the “Abbreviated Financial Statements”) are attached hereto as Exhibit99.1.

These Abbreviated Financial Statements have been prepared in accordance with approval received by Protective from the United States Securities and Exchange Commission permitting Protective to substitute Abbreviated Financial Statements for the full financial statements required by Rule3-05 of Regulation S-X.

(b) Pro Forma Financial Information.

The Unaudited Pro Forma Condensed Combined Financial Information of Protective giving effect to the acquisition of the Life Business, as of the dates and for the periods therein specified, is attached hereto as Exhibit99.2.

(d) Exhibits:

PROTECTIVE LIFE CORP ExhibitEX-99.1 2 a18-17071_1ex99d1.htm EX-99.1 Exhibit 99.1 Life Business of Liberty Life Assurance Company of Boston Table of Contents Page Report of Independent Auditors 1 Abbreviated Financial Statements as of and for the year ended December 31,…To view the full exhibit click here
About Protective Life Corporation (NYSE:PL)
Protective Life Corporation is a holding company. The Company along with subsidiaries provides financial services in the United States through the production, distribution, and administration of insurance and investment products. The Company operates several operating segments, each distinguished by products, channels of distribution, and/or other strategic distinctions. The Company’s operating segments are Life Marketing, Acquisitions, Annuities, Stable Value Products, and Asset Protection. The Company has an additional segment referred to as Corporate and Other which consists of net investment income not assigned and expenses not attributable to the segments. This segment also includes earnings from several non-strategic or runoff lines of business, various investment-related transactions, the operations of small subsidiaries, and the repurchase of non-recourse funding obligations.