Equitable : Financial Life Insurance Company of America - First Quarter 2025

Published: 2025-06-04 14:11:08 ET EQH

Published on 06/04/2025 at 14:11

IJocusign envelope IU: 3BF 231I3g-608U-4215-BEE86A4AS8C42C12

LIFE AND ACCIDENT AND HEAL TH COMPANIEEA SSOCIATION EDI 7/O/V

QUARTERLY STATEiUENT

As of March 31, 2025

of the Condition and Affairs of the

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

NAIC Group Code 4965 4965 NAtC Company Code 78077 Ernie/oyer's 10 Number 8&0222062

Organized under the Laws of the State of Arizona State of Domicile of Poll of En/ry Arizona Country of Domicile United States of America 1ncorporated/organized. March 6 /969 Commenced Business: June 26, /969

Statutory Home Office. 3030 N. Third Stmet. Suite 790, Phoenix, Afizona 85a f2

IViain Admin/sfrafive Office. 850I IBM Orive, Charlotte, /VC 28262, Telephone Number.' (20 I} 743-5/32

Mail Address. ago i iBM Drive, Chaftotte. NC 28262 , Telephone Number: (201) 743-5Y32 Primary Location of Books and Records. 8fi01 iBM Owe. Charlotte, NC 28262. (201) 743-5132 Internet Website Address.' https://www.equitable.com

S/afuforyStatement Confact.' Neil Guerriero. Signatory Officer (201) 743-5 f32

E-fviaiI Address.' oonlro//[email protected]

OFFICERS

MARK PEARSON

Chief Execufiva OTlicer

/V/CHOPS BURRI TT LANE

JEFFREY JOY HURD

Chief Operat'ng Officer

DOUGLAS ADAM DACHILLE # DANIEL GEORGE KAYE fviARK PEARSON

CHARLES GERALD THQROTON STONEHILL

Sfafe of. /Vew Jersey..

Coun/y of. a erperi.

WILLIAM JAMES ECKERT IV

Chief Accounting Of/icer

ROBIN MATTHEW RAJU

Chief FinanCid/ O/beer

DIRECTORS

FRANCIS ARIAS HONDAL JOAN MARIE LAI iT- TENNANT BERTRAM LEE SCOTT

JOSE RAMDN GONZALEZ

Ci/e/ Legal O//icer and Secretary

XU "VINCENT" XUAN

Chief Actuary and Appointed Actuary

ARLENE ELIZABETH ISAACS-LOWE CRAIG CHARLES lvlACHA Y GEORGE HODGSON STANSFIELD

The officers ol this reporting enf/fy being duly sworn, each cfepose and say fhat hey are the described officers oy the said reporting entity, and tial c'n the reporting period s/afecf above. all at the herein descnbed assets were tfie absolute properly ol life said reporting entity, free and clear mom any liens or claims thereon, eycept a8 herein sfared, and ihat this Sfdtement. together with related exhibits. schedules and explanations therein contained, annexed or referred la. is a ruii and true statement oI all ihe assefs and /ias /'f/es and ol the condition and aflairs of the sai0 reposing ear/y as of the repo‹tng penod sealed above. and of its Income and deductions f/tere/rom for the penod enaed. ana fiave been comp/ered in accordance with rhe NAIC Annual Sfafernenf /nsr/ucfrons anlt Accounting Practices and Procedures manuat except to the extent that.' (I) state law may difier.' or, (2) tnai sra/e re/es or regulations require differences in repoding no/ related la accounting practices and procedures. according to ihe tesf or their information. knowledge and belief, respectively. Furthermore, the scope of this affestatron by t/;e described officers also includes the related corresponding electronic

////'ng witfi the NAIC. wifien required. that is an exact copy (excepi lor formatting deferences due to e/ecfro/tic filing) ef the enclosed s/afemer/f. The electronic filing may be requested by various regulators in lieu of or in addif/on to the enclosed statement

WILL

Chief Accounting O//icer

'UAN

Chief Actuary and Appointed Actuary

COST 'M N GC›N LEZ

Chief Legal Officer and Secretary

Subscribed and sworn la befom me this a. /s this an original filing?

If no, f.

State the amencfmanf nL/m6er

Date filed

Number of pages attached

'*k day of I'll2025 LAURRINE VENTURA '

NOTARY PUBLIC

Slate of New Jersey

!D ¥ 50213f50

COfYi/Ttission Expires 8/15/2028

Current Statement Date

December 31 Prior Year Net Admitted Assets

Assets

Nonadmitted Assets

Net Admitted Assets (Cols. 1 - 2)

Bonds .............................................................................................................

Stocks:

Preferred stocks .......................................................................................

Common stocks .......................................................................................

Mortgage loans on real estate:

First liens ..................................................................................................

Other than first liens..................................................................................

Real estate:

Properties occupied by the company (less $ 0

encumbrances) .......................................................................................

Properties held for the production of income (less

$ .................................0 encumbrances) .......................................

Properties held for sale (less $ 0

encumbrances) .......................................................................................

Cash ($ ............... 106,226,824 ), cash equivalents

($ ................... 1,958,593 ) and short-term

investments ($ .................................0 ) .................................................

Contract loans (including $ .................................0 premium notes) ......

Derivatives .....................................................................................................

Other invested assets ....................................................................................

Receivables for securities ..............................................................................

Securities lending reinvested collateral assets ..............................................

Aggregate write-ins for invested assets .........................................................

Subtotals, cash and invested assets (Lines 1 to 11) .....................................

Title plants less $ .................................0 charged off (for Title insurers only) ..............................................................................................................

Investment income due and accrued .............................................................

Premiums and considerations:

Uncollected premiums and agents' balances in the course of collection

Deferred premiums, agents' balances and installments booked but deferred and not yet due (including $ 0

earned but unbilled premiums) ............................................................

Accrued retrospective premiums ($ .................................0 ) and

contracts subject to redetermination ($ .................................0 ) .......

Reinsurance:

Amounts recoverable from reinsurers ....................................................

Funds held by or deposited with reinsured companies ..........................

Other amounts receivable under reinsurance contracts ........................

Amounts receivable relating to uninsured plans ............................................

Current federal and foreign income tax recoverable and interest thereon ....

Net deferred tax asset ...................................................................................

Guaranty funds receivable or on deposit ......................................................

Electronic data processing equipment and software .....................................

Furniture and equipment, including health care delivery assets

($ .................................0 ) ................................................................

Net adjustment in assets and liabilities due to foreign exchange rates .........

Receivables from parent, subsidiaries and affiliates .....................................

Health care ($ .................................0 ) and other amounts receivable ......

Aggregate write-ins for other than invested assets ........................................

Total assets excluding Separate Accounts, Segregated Accounts and Protected Cell Accounts (Lines 12 to 25) .....................................................

From Separate Accounts, Segregated Accounts and Protected Cell Accounts ......................................................................................................

Total (Lines 26 and 27)

. 2,719,770,477

. 0

. 2,719,770,477

. 3,019,450,510

. 1,234,784

. 0

. 1,234,784

. 1,229,611

. 3,897,900

. 0

. 3,897,900

. 68,350,000

. 0

. 68,350,000

. 0

. 108,185,417

. 0

. 108,185,417

. 166,066,838

. 207,324,079

. 692,097

. 206,631,982

. 196,944,414

. 137,035,646

. 0

. 137,035,646

. 111,325,421

. 53,581,892

. 0

. 53,581,892

. 34,476,550

. 6,330,221

. 0

. 6,330,221

. 15,901

. 5,624,392

. 0

. 5,624,392

. 5,544,583

. 256

. 0

. 256

. 0

. 3,311,335,065

. 692,097

. 3,310,642,968

. 3,607,301,728

. 0

. 28,420,216

. 0

. 28,420,216

. 26,240,886

. 10,274,661

. 0

. 10,274,661

. 5,771,656

. 0

. 11,184,818

. 0

. 11,184,818

. 3,603,159

. 12,514,211,441

. 0

. 12,514,211,441

. 11,669,594,843

. 370,066

. 0

. 370,066

. 745,839

. 0

. 20,311,988

. 0

. 20,311,988

. 31,372,523

. 21,998,817

. 0

. 21,998,817

. 20,014,084

. 0

. 98,970,916

. 0

. 98,970,916

. 107,542,504

. 0

. 1,104,962,940

. 3,713,504

. 1,101,249,436

. 1,632,036,252

. 17,122,040,928

. 4,405,601

. 17,117,635,327

. 17,104,223,474

. 35,087,254,459

. 0

. 35,087,254,459

. 32,830,771,726

52,209,295,387

4,405,601

52,204,889,786

49,934,995,200

DETAILS OF WRITE-INS

1101. Miscellaneous invested assets ..................................................................

. 256

. 0

. 256

. 0

1102. ......................................................................................................................

....................................

1103. ......................................................................................................................

....................................

1198. Summary of remaining write-ins for Line 11 from overflow page ...................

. 0

1199. Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)

256

2501. Miscellaneous assets ...................................................................................

. 408,832

. 0

. 408,832

. 235,887

2502. Other assets non-admitted ..........................................................................

. 3,713,504

. 0

2503. Admitted disallowed IMR ..............................................................................

. 51,747,691

. 0

. 51,747,691

. 52,043,465

2598. Summary of remaining write-ins for Line 25 from overflow page ...................

. 1,049,092,913

. 0

. 1,049,092,913

. 1,579,756,900

2599. Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

1,104,962,940

3,713,504

1,101,249,436

1,632,036,252

Aggregate reserve for life contracts $ .......... 14,260,845,763 less $ .................................0 included in Line 6.3 (including $ .................................0 Modco Reserve) ..........................................................................................................

Aggregate reserve for accident and health contracts (including $ .................................0 Modco Reserve) .......................

Liability for deposit-type contracts (including $ .................................0 Modco Reserve)....................................................

Contract claims:

Life ......................................................................................................................................................................................

Accident and health ............................................................................................................................................................

Policyholders' dividends/refunds to members $ .................................0 and coupons $ .................................0 due

and unpaid ................................................................................................................................................................................

Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated amounts:

Policyholders' dividends and refunds to members apportioned for payment (including $ 0

Modco) ...............................................................................................................................................................................

Policyholders' dividends and refunds to members not yet apportioned (including $ ............................... 0 Modco) ....

Coupons and similar benefits (including $ ............................... 0 Modco) ..................................................................

Amount provisionally held for deferred dividend policies not included in Line 6 .......................................................................

Premiums and annuity considerations for life and accident and health contracts received in advance less

$ .................................0 discount; including $ .................................0 accident and health premiums .........................

Contract liabilities not included elsewhere:

Surrender values on canceled contracts ............................................................................................................................

Provision for experience rating refunds, including the liability of $ .................................0 accident and health experience rating refunds of which $ .................................0 is for medical loss ratio rebate per the Public Health Service Act .......................................................................................................................................................................

Other amounts payable on reinsurance, including $ .................................0 assumed and $ 0

ceded .................................................................................................................................................................................

Interest Maintenance Reserve ............................................................................................................................................

Commissions to agents due or accrued-life and annuity contracts $ ................. 61,984,083 , accident and health

$ ............................. 987 and deposit-type contract funds $ .................................0 ..................................................

Commissions and expense allowances payable on reinsurance assumed ..............................................................................

General expenses due or accrued ............................................................................................................................................

Transfers to Separate Accounts due or accrued (net) (including $ (3,950,849,554) accrued for expense

allowances recognized in reserves, net of reinsured allowances) ..........................................................................................

Taxes, licenses and fees due or accrued, excluding federal income taxes ..............................................................................

Current federal and foreign income taxes, including $ .................................0 on realized capital gains (losses) ..............

Net deferred tax liability .............................................................................................................................................................

Unearned investment income ...................................................................................................................................................

Amounts withheld or retained by reporting entity as agent or trustee .......................................................................................

Amounts held for agents' account, including $ .................................0 agents' credit balances ...........................................

Remittances and items not allocated ........................................................................................................................................

Net adjustment in assets and liabilities due to foreign exchange rates ....................................................................................

Liability for benefits for employees and agents if not included above .......................................................................................

Borrowed money $ ............... 200,000,000 and interest thereon $ .................................0 ...........................................

Dividends to stockholders declared and unpaid .......................................................................................................................

Miscellaneous liabilities:

Asset valuation reserve ...................................................................................................................................................

Reinsurance in unauthorized and certified ($ .................................0 ) companies .......................................................

Funds held under reinsurance treaties with unauthorized and certified ($ .................................0 ) reinsurers .........

Payable to parent, subsidiaries and affiliates ..................................................................................................................

Drafts outstanding ...........................................................................................................................................................

Liability for amounts held under uninsured plans ............................................................................................................

Funds held under coinsurance ........................................................................................................................................

Derivatives ......................................................................................................................................................................

Payable for securities ......................................................................................................................................................

24.10 Payable for securities lending .........................................................................................................................................

24.11 Capital notes $ .................................0 and interest thereon $ .................................0 ...........................................

Aggregate write-ins for liabilities ...............................................................................................................................................

Total liabilities excluding Separate Accounts business (Lines 1 to 25) .....................................................................................

From Separate Accounts Statement .........................................................................................................................................

Total liabilities (Lines 26 and 27) ...............................................................................................................................................

Common capital stock ...............................................................................................................................................................

Preferred capital stock ..............................................................................................................................................................

Aggregate write-ins for other than special surplus funds ..........................................................................................................

Surplus notes ............................................................................................................................................................................

Gross paid in and contributed surplus .......................................................................................................................................

Aggregate write-ins for special surplus funds ...........................................................................................................................

Unassigned funds (surplus) ......................................................................................................................................................

Less treasury stock, at cost:

.................................0 shares common (value included in Line 29 $ .................................0 ) ...............................

.................................0 shares preferred (value included in Line 30 $ .................................0 ) .............................

Surplus (Total Lines 31+32+33+34+35-36) (including $ ................285,738,637 in Separate Accounts Statement) ..............

Totals of Lines 29, 30 and 37 ...................................................................................................................................................

Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)

Current Statement Date

December 31 Prior Year

. 14,260,845,763

. 105,524,456

. 16,288,673

. 14,157,368,233

. 105,322,182

. 13,315,011

. 138,653,506

. 9,713,817

. 164,186,575

. 9,777,600

. 0

. 61,985,070

. 0

. 4,170,134

. 75,429,315

. 0

. 9,809,958

. (3,712,237,206)

. 13,784,474

. 78,250,942

. 0

. 1,724,142,576

. 0

. 10,452,258

. 0

. 200,000,000

. 0

. (3,786,284,531)

. 17,658,744

. 5,084,521

. 0

. 2,522,534,138

. 0

. 17,812,747

. 0

. 93,418,942

. 0

. 15,775,539

. 0

. 564,399

. 5,624,392

. 0

55,638,583

. 61,673,849

. 0

. 58,304,880

. 0

. 5,432,626

. 5,544,583

. 0

56,956,535

13,082,596,318

13,499,926,966

. 34,801,515,822

47,884,112,140

. 32,371,469,189

45,871,396,155

. 2,500,000

. 0

. 1,844,648,867

. 1,092,174,483

. 1,381,454,296

. 2,500,000

. 0

. 1,884,648,867

. 1,624,702,790

. 551,747,388

. 0

4,318,277,646

. 0

4,061,099,045

4,320,777,646

4,063,599,045

52,204,889,786

49,934,995,200

DETAILS OF WRITE-INS

2501.

Miscellaneous liabilities ......................................................................................................................................................

. 4,842,164

. 4,701,483

2502.

Deferred Gain on reinsurance .................................................................................................................................................

. 50,796,419

. 52,255,052

2503.

...................................................................................................................................................................................................

....................................

2598.

Summary of remaining write-ins for Line 25 from overflow page ..............................................................................................

. 0

2599.

Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

55,638,583

56,956,535

3101.

3102.

3103.

3198.

3199.

...................................................................................................................................................................................................

Summary of remaining write-ins for Line 31 from overflow page .............................................................................................. Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)

....................................

. 0

....................................

. 0

3401.

3402.

3403.

3498.

3499.

Admitted Disallowed IMR ..........................................................................................................................................................

VA Derivatives SSAP 108 ..........................................................................................................................................................

...................................................................................................................................................................................................

Summary of remaining write-ins for Line 34 from overflow page .............................................................................................. Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)

. 52,042,160

. 1,040,132,323

....................................

. 0

1,092,174,483

. 53,023,985

. 1,571,678,805

....................................

. 0

1,624,702,790

Premiums and annuity considerations for life and accident and health contracts ...............................

Considerations for supplementary contracts with life contingencies.....................................................

Net investment income ........................................................................................................................

Amortization of Interest Maintenance Reserve (IMR) ..........................................................................

Separate Accounts net gain from operations excluding unrealized gains or losses ............................

Commissions and expense allowances on reinsurance ceded ...........................................................

Reserve adjustments on reinsurance ceded ........................................................................................

Miscellaneous Income:

Income from fees associated with investment management, administration and contract guarantees from Separate Accounts.............................................................................................

Charges and fees for deposit-type contracts .................................................................................

Aggregate write-ins for miscellaneous income ..............................................................................

Totals (Lines 1 to 8.3) ..........................................................................................................................

Death benefits ......................................................................................................................................

Matured endowments (excluding guaranteed annual pure endowments) ...........................................

Annuity benefits ....................................................................................................................................

Disability benefits and benefits under accident and health contracts ..................................................

Coupons, guaranteed annual pure endowments and similar benefits .................................................

Surrender benefits and withdrawals for life contracts ..........................................................................

Group conversions ...............................................................................................................................

Interest and adjustments on contract or deposit-type contract funds ...................................................

Payments on supplementary contracts with life contingencies ............................................................

Increase in aggregate reserves for life and accident and health contracts ..........................................

Totals (Lines 10 to 19) .........................................................................................................................

Commissions on premiums, annuity considerations, and deposit-type contract funds (direct business only) ....................................................................................................................................

Commissions and expense allowances on reinsurance assumed ......................................................

General insurance expenses and fraternal expenses ..........................................................................

Insurance taxes, licenses and fees, excluding federal income taxes ...................................................

Increase in loading on deferred and uncollected premiums ................................................................

Net transfers to or (from) Separate Accounts net of reinsurance ........................................................

Aggregate write-ins for deductions .......................................................................................................

Totals (Lines 20 to 27) .........................................................................................................................

Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus Line 28) ..............................................................................................................................................

Dividends to policyholders and refunds to members ...........................................................................

Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29 minus Line 30) ...............................................................................................

Federal and foreign income taxes incurred (excluding tax on capital gains) .......................................

Net gain from operations after dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses) (Line 31 minus Line 32) .....................................

Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains tax of $ ................(10,138,988) (excluding taxes of $ 49,765

transferred to the IMR) .........................................................................................................................

Net income (Line 33 plus Line 34) .......................................................................................................

CAPITAL AND SURPLUS ACCOUNT

Capital and surplus, December 31, prior year ......................................................................................

Net income (Line 35) ............................................................................................................................

Change in net unrealized capital gains (losses) less capital gains tax of $ 1,389,294

Change in net unrealized foreign exchange capital gain (loss) ............................................................

Change in net deferred income tax ......................................................................................................

Change in nonadmitted assets ............................................................................................................

Change in liability for reinsurance in unauthorized and certified companies .......................................

Change in reserve on account of change in valuation basis, (increase) or decrease ..........................

Change in asset valuation reserve .......................................................................................................

Change in treasury stock .....................................................................................................................

Surplus (contributed to) withdrawn from Separate Accounts during period .........................................

Other changes in surplus in Separate Accounts Statement ................................................................

Change in surplus notes ......................................................................................................................

Cumulative effect of changes in accounting principles ........................................................................

Capital changes:

Paid in ..........................................................................................................................................

Transferred from surplus (Stock Dividend) ..................................................................................

Transferred to surplus ..................................................................................................................

Surplus adjustment:

Paid in ..........................................................................................................................................

Transferred to capital (Stock Dividend) ........................................................................................

Transferred from capital ...............................................................................................................

Change in surplus as a result of reinsurance ...............................................................................

Dividends to stockholders ....................................................................................................................

Aggregate write-ins for gains and losses in surplus .............................................................................

Net change in capital and surplus for the year (Lines 37 through 53) ..................................................

Capital and surplus, as of statement date (Lines 36 + 54)

Current Year To Date

Prior Year To Date

Prior Year Ended December 31

. 4,831,631,149

. 18,292,255

. 4,601,313

. (532,256)

. 276,973,526

. 548,237

. 0

. 34,514,512

. 0

3,793,056,215

. 4,073,611,515

. 7,326,014

. 25,267,009

. (351,358)

. (541,899,724)

. 1,208,133

. 0

. 20,952,866

. 0

(80,062,239)

. 18,258,194,507

. 58,784,843

. 120,932,783

. (767,681)

. (25,689,194)

. 4,434,829

. 0

. 99,830,187

. 0

12,910,380,096

8,959,084,951

3,506,052,216

31,426,100,370

. 269,109,298

. 0

. 400,708,143

. 42,973,273

. 0

. 3,585,140,169

. 0

. 3,070,222

. 2,757,020

103,679,804

. 199,667,664

. 0

. 118,950,213

. 36,553,710

. 0

. 424,493,474

. 0

. 1,457,241

. 960,417

(71,599,256)

. 818,831,351

. 0

. 1,511,795,552

. 155,970,626

. 0

. 13,313,009,422

. 0

. 6,676,975

. 6,656,401

(5,424,812)

. 4,407,437,929

. 245,344,160

. 88,641,134

. 54,807,819

. 3,374,558

. 0

. 3,641,212,162

29,622,756

. 710,483,463

. 185,474,005

. 211,446,800

. 40,944,122

. 5,335,609

. 0

. 3,108,391,059

28,379,503

. 15,807,515,515

. 882,136,568

. 491,257,559

. 189,518,644

. 20,732,557

. 0

. 13,597,075,749

120,702,023

8,470,440,518

4,290,454,561

31,108,938,615

. 488,644,433

. (784,402,345)

. 317,161,755

. 488,644,433

82,154,641

. (784,402,345)

(116,569,696)

. 317,161,755

(29,827,518)

. 406,489,792

(39,003,324)

. (667,832,649)

179,574,129

. 346,989,273

370,873,050

367,486,468

(488,258,520)

717,862,323

4,063,599,045

4,408,491,225

. 367,486,468

. 5,321,911

. 0

. (10,772,243)

. 910,681

. 0

. (31,745,094)

. 0

. 450,537,426

. (450,537,426)

. 0

. (40,000,000)

. 0

. (34,023,122)

. 0

. (488,258,520)

. 264,917,018

. 0

. 32,248,318

. 69,394,553

. 0

. (7,319,111)

. 0

. (542,770,914)

. 542,770,914

. 0

. 82,770,796

. 0

. 717,862,323

. (278,251,198)

. 0

. (76,808,708)

. 68,168,548

. 566,397

. 0

. (27,734,720)

. 0

. (478,697,727)

. 478,697,727

. 0

. (22,291,199)

. (700,849,122)

(25,554,501)

257,178,601

(46,246,946)

(344,892,180)

4,320,777,646

4,362,244,279

4,063,599,045

DETAILS OF WRITE-INS

Sundry receipts and adjustments .......................................................................................................

Funds Withheld Assumed NII incl derivative activity net of SSAP 108 deferral ...........................

Seperate account MODCO reinsurance assumed ....................................................................................

08.398. Summary of remaining write-ins for Line 8.3 from overflow page ........................................................

08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)

. 21,979,511

. 175,107,640

. 3,491,768,796

. 104,200,268

3,793,056,215

. 12,636,774

. (493,984,885)

. 277,130,194

. 124,155,678

(80,062,239)

. 65,880,914

. (506,829,587)

. 12,899,155,780

. 452,172,989

12,910,380,096

2701. Sundry disbursements and adjustments ...............................................................................................

2702. Separate account MODCO reinsurance ceded ........................................................................................

2703. ............................................................................................................................................................

2798. Summary of remaining write-ins for Line 27 from overflow page ......................................................... 2799. Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)

. 472,772

. 29,149,984

. 0

29,622,756

. 503,575

. 27,875,928

. 0

28,379,503

. 2,490,083

. 118,211,940

. 0

120,702,023

5301. Prior Year adjustments .......................................................................................................................

5302. ..............................................................................................................................................................

5303. ..............................................................................................................................................................

5398. Summary of remaining write-ins for Line 53 from overflow page ......................................................... 5399. Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)

. 0

....................................

. 0

....................................

. 0

. (25,554,501)

....................................

. 0

(25,554,501)

Cash from Operations

Premiums collected net of reinsurance ...............................................................................................

Net investment income ........................................................................................................................

Miscellaneous income .........................................................................................................................

Total (Lines 1 to 3) ..............................................................................................................................

Benefit and loss related payments ......................................................................................................

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts .................

Commissions, expenses paid and aggregate write-ins for deductions ...............................................

Dividends paid to policyholders ...........................................................................................................

Federal and foreign income taxes paid (recovered) net of $ .................................0 tax on capital gains (losses) ...................................................................................................................................

Total (Lines 5 through 9) ....................................................................................................................

Net cash from operations (Line 4 minus Line 10) ...............................................................................

Cash from Investments

Proceeds from investments sold, matured or repaid:

Bonds .........................................................................................................................................

Stocks .........................................................................................................................................

Mortgage loans ...........................................................................................................................

Real estate .................................................................................................................................

Other invested assets .................................................................................................................

Net gains or (losses) on cash, cash equivalents and short-term investments ...........................

Miscellaneous proceeds .............................................................................................................

Total investment proceeds (Lines 12.1 to 12.7) .........................................................................

Cost of investments acquired (long-term only):

Bonds .........................................................................................................................................

Stocks .........................................................................................................................................

Mortgage loans ...........................................................................................................................

Real estate .................................................................................................................................

Other invested assets .................................................................................................................

Miscellaneous applications .........................................................................................................

Total investments acquired (Lines 13.1 to 13.6) ........................................................................

Net increase/(decrease) in contract loans and premium notes ..........................................................

Net cash from investments (Line 12.8 minus Line 13.7 and Line 14) ................................................

Cash from Financing and Miscellaneous Sources

Cash provided (applied):

Surplus notes, capital notes .......................................................................................................

Capital and paid in surplus, less treasury stock .........................................................................

Borrowed funds ..........................................................................................................................

Net deposits on deposit-type contracts and other insurance liabilities .......................................

Dividends to stockholders ..........................................................................................................

Other cash provided (applied) ....................................................................................................

Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5 plus Line 16.6) ..................................................................................................................................

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17) .

Cash, cash equivalents and short-term investments:

Beginning of year ........................................................................................................................

End of period (Line 18 plus Line 19.1)

Current Year To Date

Prior Year To Date

Prior Year Ended December 31

. 4,463,262,152

. 8,352,733

3,223,596,508

. 3,543,815,165

. 23,966,063

51,533,456

. 15,718,288,544

. 109,801,612

169,011,724

7,695,211,393

3,619,314,685

15,997,101,880

. 3,791,688,692

. 3,116,627,412

. 356,705,278

. 0

. 194,587,515

. 3,608,602,950

. 353,637,740

. 0

. 1,010,990,779

. 15,000,408,848

. 1,186,235,375

. 0

779,557,546

7,265,021,382

4,156,828,205

17,977,192,548

430,190,011

(537,513,520)

(1,980,090,668)

. 336,464,607

. 0

7,178,514

. 26,759,521

. 0

21,443,621

. 560,233,739

. 19,243,922

. 0

969,633,564

. 343,643,121

. 37,164,035

. 0

. 18,740,570

86,952,402

. 48,203,142

. 138,157,700

. 0

. 3,891,992

9,692,431

. 1,549,111,225

. 914,023,208

. 2,874,400

. 0

. 34,160,023

20,751,525

142,857,007

151,742,123

971,809,156

9,695,248

10,387,362

25,538,337

191,090,867

(113,926,343)

551,763,732

. 0

. (40,000,000)

. 200,000,000

. 33,316

. 0

(839,195,615)

. 0

. (2,240,108)

. 0

719,657,345

. 0

. (2,011,737)

. 700,849,112

1,768,135,292

(679,162,299)

717,417,237

1,065,274,443

. (57,881,421)

. 166,066,838

108,185,417

. 65,977,374

. 529,119,331

595,096,704

. (363,052,493)

. 529,119,331

166,066,838

Note: Supplemental disclosures of cash flow information for non-cash transactions:

20.0001. See Note1A(2) in the Notes to Financial Statements for non-cash transactions ...................

. 0

DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS

Individual life ........................................................................................................................................

Group life ..............................................................................................................................................

Individual annuities ...............................................................................................................................

Group annuities ....................................................................................................................................

Accident & health .................................................................................................................................

Fraternal ...............................................................................................................................................

Other lines of business ........................................................................................................................

Subtotal (Lines 1 through 7) .................................................................................................................

Deposit-type contracts .........................................................................................................................

Total (Lines 8 and 9)

Current Year To Date

Prior Year To Date

Prior Year Ended December 31

. 189,134,467

. 34,999,701

. 3,608,424,454

. 375,381,232

. 73,813,577

. 0

. 4,281,753,431

. 0

4,281,753,431

. 180,866,145

. 31,336,678

. 3,304,568,207

. 0

. 63,248,966

. 0

. 3,580,019,996

. 0

3,580,019,996

. 727,557,790

. 127,574,847

. 14,543,544,711

. 29,524,215

. 268,593,849

. 0

. 15,696,795,412

. 0

15,696,795,412

1. Accounting Practices

The accompanying financial statements of Equitable Financial Life Insurance Company of America ("the Company" or "EFLOA") are presented on the basis of accounting practices prescribed or permitted by the Arizona Department of Insurance and Financial Institutions ("SAP").

The Arizona Department of Insurance and Financial Institutions ("AZ DIFI") recognizes only statutory accounting practices prescribed or permitted by the State of Arizona for determining and reporting the financial condition and results of operations of an insurance company, and for determining its solvency under Arizona Insurance Law. The National Association of Insurance Commissioners' (NAIC) Accounting Practices and Procedures manual ("NAIC SAP") has been adopted as a component of prescribed or permitted practices by the State of Arizona.

As of March 31, 2025, the following prescribed and permitted practices resulted in surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied.

Prescribed Accounting Practice

During 2022, the Company received approval from the AZ DIFI pursuant to A.R.S. 20-515 for Separate Account No. 68A ("SA 68A") for our Structured Capital Strategies product, Separate Account No. 69A ("SA 69A") for our EQUI-VEST product Structured Investment Option and Separate Account No. 71A ("SA 71A") for our Investment Edge Structured Investment Option, to permit us to use book value as the accounting basis of these three non-insulated Separate Accounts instead of fair value in accordance with the NAIC Accounting and Practices and Procedures Manual to align with how we manage and measure our overall general account asset portfolio. The impact of the application is a decrease of approximately $2.2 million in statutory surplus as of March 31, 2025 and an increase in statutory net income of $76.1 million for March 31, 2025.

Permitted Accounting Practice

The AZ DIFI granted to EFLOA a permitted practice to deviate from SSAP No. 108 by applying special accounting treatment for specific derivatives hedging variable annuity benefits subject to fluctuations as a result of interest rate sensitivities. The permitted practice expands on SSAP No. 108 hedge accounting to include equity risks for the full scope of Variable Annuity (VA) contracts (i.e., not just the rider guarantees but for the VA total contract). The permitted practice allowed EFLOA to adopt SSAP 108 retroactively as of October 1, 2023 and applies to both directly held VA hedges as well as VA hedges in the EFLOA funds withheld asset that resulted from the reinsurance agreement (the "Reinsurance Treaty") with Equitable Financial Life Insurance Company ("EFLIC"), an affiliate of the Company, effective April 1, 2023. In the calculation of the amount of excess VA equity and interest rate derivative hedging gains gains/losses to defer (including Net Investment Income on our Equity Total Return Swaps), the permitted practice allows us to compare its total equity and interest derivatives gains and losses to 100% of our target liability change. Any hedge gain or loss deferrals will follow SSAP No. 108 amortization rules (i.e. 10-year straight line).

This permitted practice impacts the following financial statement line items:

Page 4 line 3, Net Investment Income, Page 4 line 34, Net Realized Capital Gains (losses), Page 4 line 38, Net Unrealized Capital Gains (losses), Page 4 line 8.3, Aggregate write-ins for Miscellaneous Income (including FWH derivative activity)

Page 2 line 25, Aggregate write-ins

Page 3 line 34, Special surplus

The impact of applying this permitted practice relative to SSAP 108 as written was a decrease of approximately $559.6 million in statutory net income and an increase of $824.5 million in surplus (special surplus funds) as of March 31, 2025.

If the Company had not used all of the aforementioned permitted practices that differ from NAIC SAP, a risk-based capital regulatory event would not have been triggered.

SSAP #

F/S Page

F/S Line #

March 31,

2025

December 31,

2024

NET INCOME

(1) EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF

AMERICA state basis (Page 4, Line 35, Columns 1 & 2)

XXX

$ 367,486,468

$ 717,862,323

(2) State Prescribed Practices that increase/decrease NAIC SAP

SA 68A, 69A, 71A book value vs. fair value

N/A

$ 76,100,000

$ 15,400,000

(3) State Permitted Practices that increase/decrease NAIC SAP

SSAP 108, Derivatives Hedging Deferral (Direct and Assumed)

N/A

3, 34

$ (559,600,000)

$ 788,700,000

(4) NAIC SAP (1 - 2 - 3 = 4)

XXX

$ 850,986,468

$ (86,237,677)

SURPLUS

(5) EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF

AMERICA state basis (Page 3, line 38, Columns 1 & 2)

XXX

$4,320,777,646

$4,063,599,045

(6) State Prescribed Practices that increase/decrease NAIC SAP

SA 68A, 69A, 71A book value vs. fair value

N/A

$ (2,200,000)

$ (78,300,000)

(7) State Permitted Practices that increase/decrease NAIC SAP

SSAP 108, Derivatives Hedging Deferral (Direct and Assumed)

N/A

$ 824,500,000

$1,381,000,000

(8) NAIC SAP (5 - 6 - 7 = 8)

XXX

$3,498,477,646

$2,760,899,045

2. Listed below is the supplemental disclosures of cash flow transactions for non-cash items excluded in the Cash Flow:

December 31, 2024

March 31, 2025

Premiums and annuity considerations $ - $ (165,000,000) Net Investment Income - -

Miscellaneous Income 529,657,071 (844,198,602)

Total 529,657,071 (1,009,198,602)

Benefit and Loss related payments -

Commissions and expenses paid - (118,711,132)

Total - (118,711,132)

Net cash from operations $ 529,657,071 $ (890,487,470)

Bonds proceeds - -

Total investment proceeds - -

Bonds acquired - -

Total investments acquired - -

Net cash from investments $ - $ - Capital and paid in surplus

Other cash provided (applied) (529,657,071) 890,487,470 Net cash from financing and miscellaneous sources $ (529,657,071) $ 890,487,470 Total non-cash transactions $ - $ -

No significant change.

Accounting Policy

(2) Bonds are stated principally at amortized cost, the value of which is based on the effective interest rate method, and are adjusted to regulatory mandated values through the establishment of a valuation allowance, and for impairments in value deemed to be other than temporary through write-downs recorded as realized capital losses.

(6) Loan-backed securities are stated at either amortized cost or the lower of amortized cost or fair value. Prepayment assumptions for loan-backed bonds and structured securities were obtained from broker-dealer survey values or internal estimates. These assumptions are consistent with the current interest rate and economic environment. The retrospective adjustment method is predominantly used for securities; the prospective adjustment method was used for issues in default and issues that have a variable interest rate.

Going Concern

There is no issue regarding the Company's ability to continue as a going concern.

No significant change.

Accounting changes

Effective January 1, 2025 the Company's General Account and non insulated Separate Accounts adopted revisions to SSAP 26 - Bonds to incorporate their principles-based bond definition project's (PBBD) concepts on what should be reported as a long-term bond. In accordance with the transition guidance specifically for PBBD, this is not a change in accounting principle. Refer to Note 21C - Other Items - Other Disclosures for additional details.

No significant change.

A.-C. No significant change.

Loan-Backed Securities

Prepayment assumptions for loan-backed bonds and structured securities were obtained from broker-dealer survey values or internal estimates. These assumptions are consistent with the current interest rate and economic environment.

There were no Loan-backed securities with a recognized other than temporary impairment as of March 31, 2025.

There were no Loan-backed securities with a recognized other than temporary impairment recorded during the year.

All impaired (fair value is less than cost or amortized cost) loan-backed securities for which an other-than-temporary-impairment has not been recognized in earnings as a realized loss (including securities with a recognized other-than-temporary impairment for non-interest related declines when a non-recognized interest related impairment remains) as of March 31, 2025:

a. The aggregate amount of unrealized losses:

1. Less than 12 Months

$ 104,550

2. 12 Months or Longer

$ 14,543,186

The aggregate related fair value of securities

1. Less than 12 Months

$ 66,392,509

with unrealized losses:

2. 12 Months or Longer

$ 76,767,590

The aggregate unrealized losses of $14,647,736 include $0 of valuation allowances already recognized through surplus.

The Company's management, with the assistance of its investment advisors, monitors the investment performance of its portfolio. This review process culminates with a quarterly review of certain assets by Equitable Holding's Investments Under Surveillance Committee that evaluates whether any investments are other than temporarily impaired. The review considers an analysis of individual credit metrics of each issuer as well as industry fundamentals and the outlook for the future. Based on the analysis, a determination is made as to the ability of the issuer to service its debt obligation on an ongoing basis. If this ability is deemed to be impaired, then the appropriate provisions are taken.

Dollar Repurchase Agreements and Securities Lending Transactions

The Company has entered into securities lending agreements with agent banks whereby blocks of securities are loaned to third parties, primarily major brokerage firms. The agreements require a minimum of 102% and 105% of the fair value of the domestic and foreign securities loaned to be held as collateral. To further minimize the credit risks related to these programs, the financial condition of counterparties is monitored on a regular basis. A securities lending payable for the overnight and continuous loans is included in liabilities in the amount of cash collateral received.

The Company had no assets pledged as collateral relating to dollar repurchase agreements and/or securities lending transactions as of the reporting date.

Collateral Received

Aggregate Amount of Collateral Received:

Securities Lending Fair Value

Open .............................................................................................................................................. $ 5,624,392

30 Days or Less ............................................................................................................................ $ -

31 to 60 Days................................................................................................................................ $ -

61 to 90 Days................................................................................................................................ $ -

Greater Than 90 Days................................................................................................................... $ -

Subtotal ......................................................................................................................................... $ 5,624,392

Securities Received ...................................................................................................................... $ -

Total Collateral Received............................................................................................................. $ 5,624,392

Dollar Repurchase Agreement Fair Value

Open .............................................................................................................................................. $ -

30 Days or Less ............................................................................................................................ $ -

31 to 60 Days................................................................................................................................ $ -

61 to 90 Days................................................................................................................................ $ -

Greater Than 90 Days................................................................................................................... $ -

Subtotal ......................................................................................................................................... $ -

Securities Received ...................................................................................................................... $ -

Total Collateral Received............................................................................................................. $ -

The fair value of that collateral and of the portion of that collateral that is has sold or repledged ................ $ 5,624,392

The Company receives cash collateral in an amount in excess of the securities lent and invests the

collateral into highly liquid short-term investments....................................................................................... $ -

Securities Lending Transactions administered by an affiliated agent NONE

Collateral Reinvestment

Aggregate Amount Collateral Reinvested:

Securities Lending Amortized Cost Fair Value

Open.............................................................................................................. $ 5,624,392 $ 5,624,392

30 Days or Less ........................................................................................... $ - $ -

31 to 60 Days ............................................................................................... $ - $ -

61 to 90 Days ............................................................................................... $ - $ -

91 to 120 Days .............................................................................................. $ - $ -

121 to 180 Days............................................................................................. $ - $ -

181 to 365 Days ............................................................................................ $ - $ -

1 to 2 Years................................................................................................... $ - $ -

2 to 3 Years.................................................................................................... $ - $ -

Greater Than 3 Years..................................................................................... $ - $ -

Subtotal ......................................................................................................... $ 5,624,392 $ 5,624,392

Securities Received ....................................................................................... $ - $ -

Total Collateral Reinvested ......................................................................... $ 5,624,392 $ 5,624,392

Dollar Repurchased Agreement Amortized Cost Fair Value

Open.............................................................................................................. $ - $ -