|Pacific Mutual Holding Company 2018 Financial Summary 1|
|Dollars in Millions||December 31,||2018||2017||% Change|
|Policyholder and Other Liabilities||$144,627||$144,173||0%|
|Operating Revenues 3||$10,670||$9,443||13%|
|Operating Income 4||$1,042||$774||35%|
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.
|Rating Agency||Strength Ratings||Outlook||Recent Reports|
|A.M. Best||A+ (Superior)||Stable||Ratings Report
|Fitch||AA- (Very Strong)||Stable||Press Release
|Moody's||A1 (Good)||Stable||Credit Opinion
|Standard & Poor's||AA- (Very Strong)||Stable||Ratings Report
|Statutory Financial Information|
|Pacific Life Insurance Company 5||Pacific Life & Annuity Company 6|
2018 Annual Statement
2017 Annual Statement
2018 Annual Statement
2017 Annual Statement
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.
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1 Based on accounting principles generally accepted in the United States of America (GAAP).
2 Excludes accumulated other comprehensive income (loss) and noncontrolling interests.
3 Excludes net investment gain and other than temporary impairments (OTTI).
4 Operating income is utilized by management to measure the profitability generated by the operations of the company. Operating income excludes net investment gain, other than stable value product income. It also excludes OTTI, aircraft impairments/sales, and deferred policy acquisition cost amortization and adjustments related to variable annuity derivatives. For the year ended December 31, 2017, tax impacts related to the Tax Cuts and Jobs Act enacted on December 22, 2017 are excluded.
5 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.
6 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.