Pacific Mutual Holding Company

2021 Financial Summary ¹  

Company Assets

in billions of dollars

171

2019

191

2020

209

2021

Policyholder & Other Liabilities

in billions of dollars

155

2019

173

2020

192

2021

Equity 2

in billions of dollars

12.9

2019

12.3

2020

13.4

2021

Adj. Operating Revenues 3, 5

in billions of dollars

11.5

2019

11.6

2020

13.7

2021

Adj. Operating Income 4, 5

in millions of dollars

858

2019

209

2020

983

2021

INSURANCE RATINGS

The following table identifies the financial strength ratings for Pacific Life Insurance Company and Pacific Life & Annuity Company issued from the major independent rating agencies.

What the ratings mean

 

Rating Agency Strength Ratings Outlook Recent Reports
A.M. Best A+ (Superior) Stable Ratings Report
(07/18/2022)
Press Release
(06/24/2022)
Fitch AA- (Very Strong) Stable Press Release 
(09/09/2022)
Ratings Report 
(04/11/2022)
Moody's Aa3 (Excellent) Stable Credit Opinion
(07/23/2021)
Press Release
(07/21/2021)
S&P Global AA- (Very Strong) Stable Ratings Report
(12/13/2021)
Press Release
(07/11/2016)

ANNUAL REPORT

Click below to read a summary of our business highlights and achievements and to download a copy of our 2021 Annual Report.

READ ANNUAL REPORT SUMMARY

An insurer's financial strength rating represents an opinion by the issuing agency regarding the ability of an insurance company to meet its financial obligations to its policyholders and contract holders. A rating is an opinion of the rating agency, only, and not a statement of fact or recommendation to purchase, sell or hold any security, policy or contract. These ratings do not imply approval of our products and do not reflect any indication of their performance. A positive or negative outlook indicates that the rating could change based on certain future events relating to the financial condition of the company. For more information about a particular rating or rating agency, please visit the website of the relevant agency.

The Best's Rating Report(s) reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or implied, an endorsement of (Licensee)'s products or services. A.M. Best is not responsible for transcription errors made in presenting Best's Rating Reports. Best's Rating Reports are copyright © A.M. Best Company and may not be reproduced or distributed without the express written permission of A.M. Best Company. Visitors to this website are authorized to print a single copy of the Best's Rating Report(s) displayed here for their own personal use. Any other printing, copying or distribution is strictly prohibited. Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit the A.M. Best website, www.ambest.com. For more information on Fitch, visit www.fitchratings.com. For more information on Moody’s, visit www.moodys.com. Standard & Poor's Global Ratings provides independent financial information, analytical services, and credit ratings to the world’s financial markets. For more information on Standard & Poor’s, visit www.standardandpoors.com.

 

1 Based on accounting principles generally accepted in the United States of America (GAAP).
2 Excludes accumulated other comprehensive income and noncontrolling interests.
3 Excludes other than temporary impairments (OTTI) and net realized investment gain (loss) other than stable value product income, gain (loss) on real estate equity investments, certain derivative costs, and revenues attributable to noncontrolling interests. It includes discontinued operations of our aircraft leasing business. 
4 Adjusted operating income is utilized by management to measure the profitability generated by the operations of the company. It excludes net realized investment gain (loss) other than stable value product income, gain (loss) on real estate equity investments, and certain derivative costs. It also excludes OTTI, aircraft impairments/sales, gain on sale of our aircraft leasing business, deferred policy acquisition cost amortization and certain other adjustments related to net realized investment gain (loss) and movements in economic factors, and net income (loss) attributable to noncontrolling interests. It includes discontinued operations of our aircraft leasing business. The tax impact of the adjustments are calculated net of the U.S. or foreign statutory tax rate, which could differ from the Company’s effective tax rate.
5 Effective for 2021, the Company adopted new financial measures, Adjusted Operating Income and Adjusted Operating Revenue to replace Operating Income and Operating Revenue.
6 Statutory financial information of Pacific Life Insurance Company is presented in conformity with statutory accounting practices (SAP), which are accounting practices prescribed or permitted by the Insurance Department of the State of Nebraska. Pacific Life Insurance Company is domiciled in Nebraska. SAP is a comprehensive basis of accounting that differs in certain significant respects from GAAP.
7 Statutory financial information of Pacific Life & Annuity Company is presented in conformity with statutory accounting practices (SAP), which are accounting practices prescribed or permitted by the Insurance Department of the State of Arizona. Pacific Life & Annuity Company is domiciled in Arizona. SAP is a comprehensive basis of accounting that differs in certain significant respects from GAAP.

The results for past accounting periods are not necessarily indicative of results to be expected for any future accounting period.

This website or its third-party tools use cookies, which are necessary to its functioning and are required to achieve the purposes illustrated in our online privacy policy.