Condensed Consolidated Unaudited Financial Information of NLIC

EX-99.1 2 dex991.htm CONDENSED CONSOLIDATED UNAUDITED FINANCIAL INFORMATION OF NLIC Condensed Consolidated Unaudited Financial Information of NLIC

Exhibit 99.1

NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES

(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)

Condensed Consolidated Balance Sheets

(in millions)


	December 31,
	2006		2005
	(Unaudited)
Assets
Investments	$	36,526.9	$	38,626.8
Deferred policy acquisition costs		3,758.0		3,597.9
Other assets		2,325.6		2,044.0
Assets held in separate accounts		67,351.9		62,689.8

Total assets	$	109,962.4	$	106,958.5

Liabilities and Shareholder’s Equity
Future policy benefits and claims	$	34,409.4	$	35,941.1
Long-term debt, payable to Nationwide Financial Services, Inc. (NFS)		700.0		700.0
Other liabilities		3,063.3		3,372.4
Liabilities related to separate accounts		67,351.9		62,689.8

Total liabilities		105,524.6		102,703.3

Total shareholder’s equity		4,437.8		4,255.2

Total liabilities and shareholder’s equity	$	109,962.4	$	106,958.5

NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES

(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)

Condensed Consolidated Statements of Income

(in millions)


	Years ended December 31,
	2006		2005		2004
	(Unaudited)
Revenues:
Policy charges	$	1,132.6	$	1,055.1	$	1,025.2
Traditional life insurance and immediate annuity premiums		308.3		260.0		270.4
Net investment income		2,058.5		2,105.2		2,000.5
Net realized gains (losses) on investments, hedging instruments and hedged items		7.1		10.6		(36.4	)
Other		0.2		2.2		9.8

Total revenues		3,506.7		3,433.1		3,269.5

Benefits and expenses:
Interest credited to policyholder account values		1,330.1		1,331.0		1,277.2
Life insurance and annuity benefits		450.3		377.5		369.2
Policyholder dividends on participating policies		25.6		33.1		36.2
Amortization of deferred policy acquisition costs		450.3		466.3		410.1
Interest expense on debt, primarily with NFS		65.5		66.3		59.8
Other operating expenses		531.8		538.8		582.0

Total benefits and expenses		2,853.6		2,813.0		2,734.5

Income from continuing operations before federal income tax expense		653.1		620.1		535.0
Federal income tax expense		30.6		95.6		120.0

Income from continuing operations		622.5		524.5		415.0
Cumulative effect of adoption of accounting principles, net of taxes		—		—		(3.3	)

Net income	$	622.5	$	524.5	$	411.7