...Solid Competitive Position: Pacific LifeCorp, with its insurance subsidiaries (collectively PLC), is one of the leading providers of individual life insurance and retirement savings products in the U.S. The company maintains a strong competitive position within the affluent market. The company also benefits from an extensive distribution network. Strong Statutory Capital: As of June 30, 2014, the company's total adjusted capital (TAC) grew by almost $2.4 billion since year-end 2009. PLC has diversified and derisked its product portfolio and strengthened its variable annuity (VA) hedging program, which should lessen the capital impact if equity markets experience significant deterioration. Reduced RBC Volatility: Pacific Life Insurance Company's (PLIC) reported RBC ratio has historically exhibited more volatility than peers. In 2012, PLC formed a captive subsidiary to reinsure a portion of its VA business. During the third quarter of 2013, PLIC changed the valuation basis/method for VA statutory...
