American Equity Investment Life : AEL Re Vermont II, Inc – 2023 Annual Statement

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

ASSETS

						Current Year		Prior Year
					1	2	3	4
							Net Admitted Assets	Net Admitted
					Assets	Nonadmitted Assets	(Cols. 1 - 2)	Assets
1.	Bonds (Schedule D)		...................................	...................................	...................................	...................................
2.	Stocks (Schedule D):
	2.1 Preferred stocks		...................................	...................................	...................................	...................................
	2.2 Common stocks		...................................	...................................	...................................	...................................
3.	Mortgage loans on real estate (Schedule B):
	3.1 First liens			...................................	...................................	...................................	...................................
	3.2 Other than first liens		...................................	...................................	...................................	...................................
4.	Real estate (Schedule A):
	4.1 Properties occupied by the company (less $
	encumbrances)		...................................	...................................	...................................	...................................
	4.2 Properties held for the production of income (less
	$	encumbrances)	...................................	...................................	...................................	...................................
	4.3 Properties held for sale (less $
	encumbrances)		...................................	...................................	...................................	...................................
5.	Cash ($	12,586,200	, Schedule E - Part 1), cash equivalents
	($	7,449,607 , Schedule E - Part 2) and short-term
	investments ($	...................................	, Schedule DA)	20,035,807	...................................	20,035,807	...................................
6.	Contract loans (including $ ................................... premium notes)	...................................	...................................	...................................	...................................
7.	Derivatives (Schedule DB)		...................................	...................................	...................................	...................................
8.	Other invested assets (Schedule BA)	...................................	...................................	...................................	...................................
9.	Receivables for securities		...................................	...................................	...................................	...................................
10.	Securities lending reinvested collateral assets (Schedule DL)	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	...................................	...................................	...................................	...................................
12.	Subtotals, cash and invested assets (Lines 1 to 11)	20,035,807	...................................	20,035,807	...................................
13.	Title plants less $ ................................... charged off (for Title insurers
	only)			...................................	...................................	...................................	...................................
14.	Investment income due and accrued	...................................	...................................	...................................	...................................
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	...................................	...................................	...................................	...................................
	15.2 Deferred premiums, agents' balances and installments booked but
	...................................deferred and not yet due (including $
	............................................................earned but unbilled premiums)	...................................	...................................	...................................	...................................
	...................................15.3 Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	...................................	...................................	...................................	...................................
16.	Reinsurance:
	....................................................16.1 Amounts recoverable from reinsurers	...................................	...................................	...................................	...................................
	..........................16.2 Funds held by or deposited with reinsured companies	................. 82,226,452	...................................	................. 82,226,452	...................................
	........................16.3 Other amounts receivable under reinsurance contracts	110,790,662	...................................	110,790,662	...................................
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	Current federal and foreign income tax recoverable and interest thereon ....	...................................	...................................	...................................	...................................
18.2	...................................................................................Net deferred tax asset		...................................	...................................	...................................	...................................
19.	......................................................Guaranty funds receivable or on deposit	...................................	...................................	...................................	...................................
20.	.....................................Electronic data processing equipment and software	...................................	...................................	...................................	...................................
21.	Furniture and equipment, including health care delivery assets
	($	)	...................................	...................................	...................................	...................................
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	.....................................Receivables from parent, subsidiaries and affiliates	...................................	...................................	...................................	...................................
24.	Health care ($	) and other amounts receivable	...................................	...................................	...................................	...................................
25.	Aggregate write-ins for other than invested assets	934,185,129	...................................	934,185,129	...................................
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	1,147,238,050	...................................	1,147,238,050	...................................
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts			...................................	...................................	...................................	...................................
28.	Total (Lines 26 and 27)			1,147,238,050		1,147,238,050
	DETAILS OF WRITE-INS
1101.	......................................................................................................................	....................................	....................................	....................................	....................................
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	...................Summary of remaining write-ins for Line 11 from overflow page	...................................	...................................	...................................	...................................
1199.	Totals (Lines 1101 thru 1103 plus 1198)(Line 11 above)
2501.	XOL Asset			934,185,129	...................................	934,185,129	...................................
2502.	...........................................................................................................................................................		....................................	....................................	....................................
2503.	...........................................................................................................................................................		....................................	....................................	....................................
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	...................................	...................................	...................................	...................................
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)		934,185,129		934,185,129

2

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

LIABILITIES, SURPLUS AND OTHER FUNDS

							1	2
							Current Year	Prior Year
1.	Aggregate reserve for life contracts $	1,127,202,242 (Exh. 5, Line 9999999) less $	...................................
	included in Line 6.3 (including $	..........................................................................Modco Reserve)	1,127,202,242	...................................
2.	Aggregate reserve for accident and health contracts (including $	Modco Reserve)	...................................	...................................
3.	Liability for deposit-type contracts (Exhibit 7, Line 14, Col. 1) (including $		...................................	Modco Reserve)	...................................	...................................
4.	Contract claims:
	4.1 Life (Exhibit 8, Part 1, Line 4.4, Col. 1 less Col. 6)			...................................	...................................
	4.2 Accident and health (Exhibit 8, Part 1, Line 4.4, Col. 6)			...................................	...................................
5.	Policyholders' dividends/refunds to members $	and coupons $	due
	.................................................................................................................................................and unpaid (Exhibit 4, Line 10)				...................................	...................................
6.	Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated
	amounts:
	6.1	...................................Policyholders' dividends and refunds to members apportioned for payment (including $
		Modco)				...................................	...................................
	6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	Modco) ....	...................................	...................................
	6.3	Coupons and similar benefits (including $	Modco)	...................................	...................................
7.	Amount provisionally held for deferred dividend policies not included in Line 6	...................................	...................................
8.	Premiums and annuity considerations for life and accident and health contracts received in advance less
	$	................................... discount; including $	accident and health premiums (Exhibit 1,
	Part 1, Col. 1, sum of lines 4 and 14)				...................................	...................................
9.	Contract liabilities not included elsewhere:
	9.1	Surrender values on canceled contracts				...................................	...................................
	9.2	Provision for experience rating refunds, including the liability of $		accident and health
		experience rating refunds of which $	is for medical loss ratio rebate per the Public Health
		Service Act				...................................	...................................
	9.3 Other amounts payable on reinsurance, including $	assumed and $
		ceded				...................................	...................................
	9.4 Interest maintenance reserve (IMR, Line 6)			...................................	...................................
10.	Commissions to agents due or accrued-life and annuity contracts $		accident and health
	$	................................... and deposit-type contract funds $	...................................................	...................................	...................................
11.	Commissions and expense allowances payable on reinsurance assumed		...................................	...................................
12.	General expenses due or accrued (Exhibit 2, Line 12, Col. 7)			...................................	...................................
13.	Transfers to Separate Accounts due or accrued (net) (including $		accrued for expense
	allowances recognized in reserves, net of reinsured allowances)			...................................	...................................
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes (Exhibit 3, Line 9, Col. 6)	...................................	...................................
15.1	Current federal and foreign income taxes, including $	on realized capital gains (losses)	...................................	...................................
15.2	Net deferred tax liability				...................................	...................................
16.	Unearned investment income				...................................	...................................
17.	Amounts withheld or retained by reporting entity as agent or trustee			...................................	...................................
18.	...................................Amounts held for agents' account, including $	.........................................agents' credit balances	...................................	...................................
19.	........................................................................................................................................Remittances and items not allocated				...................................	...................................
20.	.....................................................................................Net adjustment in assets and liabilities due to foreign exchange rates			...................................	...................................
21.	Liability for benefits for employees and agents if not included above			...................................	...................................
22.	Borrowed money $	and interest thereon $		............................................	...................................	...................................
23.	........................................................................................................................Dividends to stockholders declared and unpaid			...................................	...................................
24.	Miscellaneous liabilities:
	...............................................................................................................24.01 Asset valuation reserve (AVR, Line 16, Col. 7)			...................................	...................................
	24.02 Reinsurance in unauthorized and certified ($	) companies	...................................	...................................
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	) reinsurers	...................................	...................................
	..................................................................................................................24.04 Payable to parent, subsidiaries and affiliates			.......................306,761	...................................
	...........................................................................................................................................................24.05 Drafts outstanding				...................................	...................................
	............................................................................................................24.06 Liability for amounts held under uninsured plans			...................................	...................................
	24.07 Funds held under coinsurance				...................................	...................................
	24.08 Derivatives				...................................	...................................
	......................................................................................................................................................24.09 Payable for securities				...................................	...................................
	..........................................................................................................................................24.10 Payable for securities lending				...................................	...................................
	24.11 Capital notes $	and interest thereon $		........................................	...................................	...................................
25.	................................................................................................................................................Aggregate write-ins for liabilities				934,185
26.	.....................................................................................Total liabilities excluding Separate Accounts business (Lines 1 to 25)			1,128,443,188
27.	.........................................................................................................................................From Separate Accounts Statement				...................................	...................................
28.	Total liabilities (Lines 26 and 27)				1,128,443,188
29.	...............................................................................................................................................................Common capital stock				..........................5,000	...................................
30.	...............................................................................................................................................................Preferred capital stock				...................................	...................................
31.	...........................................................................................................Aggregate write-ins for other than special surplus funds			...................................	...................................
32.	.............................................................................................................................................................................Surplus notes				...................................	...................................
33.	Gross paid in and contributed surplus (Page 3, Line 33, Col. 2 plus Page 4, Line 51.1, Col. 1)	19,995,000	...................................
34.	Aggregate write-ins for special surplus funds	............................................................................................................................			934,185,129	...................................
35.	.......................................................................................................................................................Unassigned funds (surplus)				..............(935,390,267)	...................................
36.	Less treasury stock, at cost:
	36.1	................................... shares common (value included in Line 29	$	)	...................................	...................................
	36.2	................................... shares preferred (value included in Line 30	$	)	...................................	...................................
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	........in Separate Accounts Statement)	18,789,862
38.	......................................................................................................................Totals of Lines 29, 30 and 37 (Page 4, Line 55)			18,794,862
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				1,147,238,050
	DETAILS OF WRITE-INS
2501.	Due to Canada Life Re
			...................... 934,185	...................................
2502		....................................

2503		....................................
2598.	Summary of remaining write-ins for Line 25 from overflow page	...................................	...................................
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)	934,185
3101		....................................
3102		....................................
3103		....................................
3198.	Summary of remaining write-ins for Line 31 from overflow page	...................................	...................................
3199.	Totals (Lines 3101 thru 3103 plus 3198)(Line 31 above)
3401.	XOL	934,185,129	...................................

3402		....................................
3403		....................................
3498.	Summary of remaining write-ins for Line 34 from overflow page	...................................	...................................
3499.	Totals (Lines 3401 thru 3403 plus 3498)(Line 34 above)	934,185,129

3

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

SUMMARY OF OPERATIONS

		1	2
		Current Year	Prior Year
1.	Premiums and annuity considerations for life and accident and health contracts (Exhibit 1, Part 1, Line 20.4, Col. 1 less
	Col. 8)	............... 650,469,148	...................................
2.	Considerations for supplementary contracts with life contingencies	...................................	...................................
3.	Net investment income (Exhibit of Net Investment Income, Line 17)	........................ 36,174	...................................
4.	Amortization of Interest Maintenance Reserve (IMR, Line 5)	...................................	...................................
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	...................................	...................................
6.	Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col. 1)	...................................	...................................
7.	Reserve adjustments on reinsurance ceded	...................................	...................................
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract guarantees from Separate
	Accounts	...................................	...................................
	8.2 Charges and fees for deposit-type contracts	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	5,459,635
9.	Total (Lines 1 to 8.3)	655,964,957
10.	Death benefits	...................................	...................................
11.	Matured endowments (excluding guaranteed annual pure endowments)
...................................	...................................
12.	Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 5 minus Analysis of Operations Summary, Line 18, Col. 1)	...................................	...................................
13.	Disability benefits and benefits under accident and health contracts	...................................	...................................
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	...................................	...................................
16.	Group conversions	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	...................................	...................................
18.	Payments on supplementary contracts with life contingencies	...................................	...................................
19.	Increase in aggregate reserves for life and accident and health contracts	1,127,202,242
20.	Totals (Lines 10 to 19)	1,127,202,242	...................................
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct business only) (Exhibit 1, Part
	2, Line 31, Col. 1)	...................................	...................................
22.	Commissions and expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1)	............... 462,911,669	...................................
23.	General insurance expenses and fraternal expenses (Exhibit 2, Line 10, Cols. 1, 2, 3, 4 and 6)	...................... 290,527	...................................
24.	Insurance taxes, licenses and fees, excluding federal income taxes (Exhibit 3, Line 7, Cols. 1 + 2 + 3 + 5)	........................ 16,601	...................................
25.	Increase in loading on deferred and uncollected premiums	...................................	...................................
26.	Net transfers to or (from) Separate Accounts net of reinsurance	...................................	...................................
27.	Aggregate write-ins for deductions	934,185
28.	Totals (Lines 20 to 27)	1,591,355,224
29.	Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus
	Line 28)	(935,390,267)	...................................

1. Dividends to policyholders and refunds to members .................................................................................................................
2. Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29

minus Line 30)

(935,390,267)

1. Federal and foreign income taxes incurred (excluding tax on capital gains) .............................................................................
2. 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)	(935,390,267)	...................................
34.	Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains tax of
	$	(excluding taxes of $	transferred to the IMR)	......................................
35.	Net income (Line 33 plus Line 34)		(935,390,267)	...................................
		CAPITAL AND SURPLUS ACCOUNT
36.	...................................................................................Capital and surplus, December 31, prior year (Page 3, Line 38, Col. 2)
37.	Net income (Line 35)			(935,390,267)	...................................
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	...............................	.....................................	...................................	...................................
39.	Change in net unrealized foreign exchange capital gain (loss)		...................................	...................................
40.	...........................................................................................................................................Change in net deferred income tax		...................................	...................................
41.	..................................................................................................................................................Change in nonadmitted assets		...................................	...................................
42.	Change in liability for reinsurance in unauthorized and certified companies	.............................................................................	...................................	...................................
43.	Change in reserve on account of change in valuation basis, (increase) or decrease	...................................	...................................
44.	Change in asset valuation reserve		...................................	...................................
45.	..........................................................................Change in treasury stock (Page 3, Lines 36.1 and 36.2, Col. 2 minus Col. 1)	...................................	...................................
46.	..............................................................................Surplus (contributed to) withdrawn from Separate Accounts during period		...................................	...................................
47.	......................................................................................................Other changes in surplus in Separate Accounts Statement		...................................	...................................
48.	Change in surplus notes			...................................	...................................
49.	Cumulative effect of changes in accounting principles		...................................	...................................
50.	Capital changes:
	50.1 Paid in			..........................5,000	...................................
	........................................................................................................................50.2 Transferred from surplus (Stock Dividend)		...................................	...................................
	50.3 Transferred to surplus	.......................................................................................................................................................		...................................	...................................
51.	Surplus adjustment:
	51.1 Paid in			................. 19,995,000	...................................
	.............................................................................................................................51.2 Transferred to capital (Stock Dividend)		...................................	...................................
	....................................................................................................................................................51.3 Transferred from capital		...................................	...................................
	51.4 Change in surplus as a result of reinsurance		...................................	...................................
52.	Dividends to stockholders			...................................	...................................
53.	..................................................................................................................Aggregate write-ins for gains and losses in surplus		934,185,129
54.	Net change in capital and surplus for the year (Lines 37 through 53)		18,794,862
55.	Capital and surplus, December 31, current year (Lines 36 + 54) (Page 3, Line 38)		18,794,862
	DETAILS OF WRITE-INS
08.301. Miscellaneous Income			5,459,635	...................................
08.302.	........................................................................................................................................................................................................................................				....................................
08.303.	........................................................................................................................................................................................................................................				....................................
.............................................................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page		...................................	...................................
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398)(Line 8.3 above)			5,459,635
2701.	Canada Life Re Risk Charges		934,185	...................................

2702
2703
2798.	Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................
2799.	Totals (Lines 2701 thru 2703 plus 2798)(Line 27 above)	934,185
5301.	XOL	934,185,129	...................................
5302		....................................
5303		....................................
5398.	Summary of remaining write-ins for Line 53 from overflow page	...................................	...................................
5399.	Totals (Lines 5301 thru 5303 plus 5398)(Line 53 above)	934,185,129

4

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

CASH FLOW

			1	2
			Current Year	Prior Year
	Cash from Operations
1.	Premiums collected net of reinsurance	................457,452,034	...................................
2.	Net investment income	...................5,495,809	...................................
3.	Miscellaneous income
4.	Total (Lines 1 through 3)	462,947,843
5.	Benefit and loss related payments	...................................	...................................
6.	.......................................................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	...................................	...................................
7.	Commissions, expenses paid and aggregate write-ins for deductions	............... 464,152,982	...................................
8.	Dividends paid to policyholders	...................................	...................................
9.	Federal and foreign income taxes paid (recovered) net of $	tax on capital gains (losses)
10.	Total (Lines 5 through 9)	464,152,982
11.	Net cash from operations (Line 4 minus Line 10)	(1,205,139)

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

12.1	Bonds
12.2	Stocks
12.3	Mortgage loans
12.4	Real estate
12.5	Other invested assets
12.6	Net gains or (losses) on cash, cash equivalents and short-term investments
12.7	Miscellaneous proceeds
12.8 Total investment proceeds (Lines 12.1 to 12.7)
13. Cost of investments acquired (long-term only):
13.1	Bonds
13.2	Stocks
13.3	Mortgage loans
13.4	Real estate
13.5	Other invested assets

1. 1. Miscellaneous applications ................................................................................................................................................
   2. Total investments acquired (Lines 13.1 to 13.6) ...............................................................................................................
2. Net increase/(decrease) in contract loans and premium notes .................................................................................................
3. Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14) ....................................................................................

		Cash from Financing and Miscellaneous Sources
16.	Cash provided (applied):
	..............................................................................................................................................16.1 Surplus notes, capital notes	...................................	...................................
	16.2	Capital and paid in surplus, less treasury stock	................. 20,000,000	...................................
	16.3	Borrowed funds	...................................	...................................
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	...................................	...................................
	.................................................................................................................................................16.5 Dividends to stockholders	...................................	...................................
	...........................................................................................................................................16.6 Other cash provided (applied)	1,240,946
17.	Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)	21,240,946
		RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	20,035,807

19. Cash, cash equivalents and short-term investments:

19.1 Beginning of year	................................... ...................................
19.2 End of year (Line 18 plus Line 19.1)	20,035,807

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

5

6

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - SUMMARY

		1		2	3	4	5	6	7	8	9
										Other Lines of	YRT Mortality
		Total		Individual Life	Group Life	Individual Annuities	Group Annuities	Accident and Health	Fraternal	Business	Risk Only
1.	Premiums and annuity considerations for life and accident and health contracts	650,469,148	...................................	...................................	650,469,148	...................................	...................................	...................................	...................................	...................................
2.	Considerations for supplementary contracts with life contingencies	...................................	...............XXX	...............XXX	...................................	...................................	...............XXX	...............XXX	...................................	...............XXX
3.	Net investment income	.........................	36,174	...................................	...................................	.........................36,174	...................................	...................................	...................................	...................................	...................................
4.	Amortization of Interest Maintenance Reserve (IMR)	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
6.	Commissions and expense allowances on reinsurance ceded	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
7.	Reserve adjustments on reinsurance ceded	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................

8. Miscellaneous Income:

	8.1 Income from fees associated with investment management, administration and
	contract guarantees from Separate Accounts	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
	8.2 Charges and fees for deposit-type contracts	...................................	...................................	...................................	...................................	...................................	...............XXX	...............XXX	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	5,459,635			5,459,635
9.	Totals (Lines 1 to 8.3)	655,964,957			655,964,957
10.	Death benefits	...................................	...................................	...................................	...................................	...................................	...............XXX	...............XXX	...................................	...................................
11.	Matured endowments (excluding guaranteed annual pure endowments)	...................................	...................................	...................................	...................................	...................................	...............XXX	...............XXX	...................................	...................................
12.	Annuity benefits	...................................	...............XXX	...............XXX	...................................	...................................	...............XXX	...............XXX	...................................	...............XXX
13.	Disability benefits and benefits under accident and health contracts	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	...................................	...................................	...................................	...................................	...................................	...............XXX	...............XXX	...................................	...................................
16.	Group conversions	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
18.	Payments on supplementary contracts with life contingencies	...................................	...................................	...................................	...................................	...................................	...............XXX	...............XXX	...................................	...................................
19.	Increase in aggregate reserves for life and accident and health contracts	1,127,202,242			1,127,202,242			XXX
20.	Totals (Lines 10 to 19)	1,127,202,242	...................................	...................................	1,127,202,242	...................................	...................................	...............XXX	...................................	...................................
21.	Commissions on premiums, annuity considerations and deposit-type contract funds
	(direct business only)	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX
22.	Commissions and expense allowances on reinsurance assumed	................. 462,911,669	...................................	...................................	................. 462,911,669	...................................	...................................	...............XXX	...................................	...................................
23.	General insurance expenses and fraternal expenses	290,527	...................................	...................................	290,527	...................................	...................................	...................................	...................................	...................................
24.	Insurance taxes, licenses and fees, excluding federal income taxes	......................... 16,601	...................................	...................................	......................... 16,601	...................................	...................................	...................................	...................................	...................................
25.	Increase in loading on deferred and uncollected premiums	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
26.	Net transfers to or (from) Separate Accounts net of reinsurance	...................................	...................................	...................................	...................................	...................................	...................................	...............XXX	...................................	...................................
27.	Aggregate write-ins for deductions	934,185			934,185
28.	Totals (Lines 20 to 27)	1,591,355,224			1,591,355,224

29. Net gain from operations before dividends to policyholders, refunds to members and

federal income taxes (Line 9 minus Line 28)	(935,390,267)	(935,390,267)
30. Dividends to policyholders and refunds to members		XXX

31. Net gain from operations after dividends to policyholders, refunds to members and

before federal income taxes (Line 29 minus Line 30)

(935,390,267)

(935,390,267)

1. Federal income taxes incurred (excluding tax on capital gains) ..................................
2. 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)	(935,390,267)	(935,390,267)
34.	Policies/certificates in force end of year							XXX
	DETAILS OF WRITE-INS
..............................................................................................08.301. Miscellaneous Income	.................... 5,459,635	...................................	...................................	.................... 5,459,635	...................................	...................................	...................................	...................................	...................................
.08.302	................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
.08.303	................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
08.398. Summary of remaining write-ins for Line 8.3 from overflow page	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	5,459,635			5,459,635
2701.	Hannover Risk Charge	934,185	...................................	...................................	934,185	...................................	...................................	...................................	...................................	...................................
2702	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2703	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	934,185			934,185

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

Analysis of Operations by Lines of Business - Individual Life Insurance

N O N E

Analysis of Operations by Lines of Business - Group Life Insurance

N O N E

6.1, 6.2

6.3

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - INDIVIDUAL ANNUITIES (a)

		1		Deferred		6	7
			2	3	4	5	Life Contingent
					Variable Annuities	Variable Annuities	Payout (Immediate
		Total	Fixed Annuities	Indexed Annuities	with Guarantees	Without Guarantees	and Annuitizations)	Other Annuities
1.	Premiums for individual annuity contracts	650,469,148	...................................	650,469,148	...................................	...................................	...................................	...................................
2.	Considerations for supplementary contracts with life contingencies	...................................	...............XXX	...............XXX	...............XXX	...............XXX	...................................	...............XXX
3.	Net investment income	.........................36,174	...................................	.........................36,174	...................................	...................................	...................................	...................................
4.	Amortization of Interest Maintenance Reserve (IMR)	...................................	...................................	...................................	...................................	...................................	...................................	...................................
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	...................................	...................................	...................................	...................................	...................................	...................................	...................................
6.	Commissions and expense allowances on reinsurance ceded	...................................	...................................	...................................	...................................	...................................	...................................	...................................
7.	Reserve adjustments on reinsurance ceded	...................................	...................................	...................................	...................................	...................................	...................................	...................................
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract guarantees from Separate Accounts	...................................	...................................	...................................	...................................	...................................	...................................	...................................
	8.2 Charges and fees for deposit-type contracts	...................................	...................................	...................................	...................................	...................................	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	5,459,635		5,459,635
9.	Totals (Lines 1 to 8.3)	655,964,957		655,964,957
10.	Death benefits	...................................	...................................	...................................	...................................	...................................	...................................	...................................
11.	Matured endowments (excluding guaranteed annual pure endowments)	...................................	...................................	...................................	...................................	...................................	...................................	...................................
12.	Annuity benefits	...................................	...................................	...................................	...................................	...................................	...................................	...................................
13.	Disability benefits and benefits under accident and health contracts	...................................	...................................	...................................	...................................	...................................	...................................	...................................
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................	...................................	...................................	...................................	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	...................................	...................................	...................................	...................................	...................................	...................................	...................................
16.	Group conversions	...................................	...................................	...................................	...................................	...................................	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	...................................	...................................	...................................	...................................	...................................	...................................	...................................
18.	Payments on supplementary contracts with life contingencies	...................................	...................................	...................................	...................................	...................................	...................................	...................................
19.	Increase in aggregate reserves for life and accident and health contracts	1,127,202,242		1,127,202,242
20.	Totals (Lines 10 to 19)	1,127,202,242	...................................	1,127,202,242	...................................	...................................	...................................	...................................
21.	Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only)	...................................	...................................	...................................	...................................	...................................	...................................	...................................
22.	Commissions and expense allowances on reinsurance assumed	................. 462,911,669	...................................	................. 462,911,669	...................................	...................................	...................................	...................................
23.	General insurance expenses	290,527	...................................	290,527	...................................	...................................	...................................	...................................
24.	Insurance taxes, licenses and fees, excluding federal income taxes	16,601	...................................	16,601	...................................	...................................	...................................	...................................
25.	Increase in loading on deferred and uncollected premiums	...................................	...................................	...................................	...................................	...................................	...................................	...................................
26.	Net transfers to or (from) Separate Accounts net of reinsurance	...................................	...................................	...................................	...................................	...................................	...................................	...................................
27.	Aggregate write-ins for deductions	934,185		934,185
28.	Totals (Lines 20 to 27)	1,591,355,224		1,591,355,224
29.	Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus Line 28)	(935,390,267)	...................................	(935,390,267)	...................................	...................................	...................................	...................................
30.	Dividends to policyholders and refunds to members
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29 minus Line 30) .	(935,390,267)	...................................	(935,390,267)	...................................	...................................	...................................	...................................

1. Federal income taxes incurred (excluding tax on capital gains) ..............................................................................................................
2. 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)	(935,390,267)	(935,390,267)
34.	Policies/certificates in force end of year
	DETAILS OF WRITE-INS
........................................................................................................................................................................08.301. Miscellaneous Income	5,459,635	...................................	.................... 5,459,635	...................................	...................................	...................................	...................................
.08.302	..........................................................................................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
.08.303	..........................................................................................................................................................................................................	....................................	....................................	....................................	....................................	....................................	....................................	....................................
..........................................................................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	...................................	...................................	...................................	...................................	...................................	...................................	...................................
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	5,459,635		5,459,635
2701.	Hannover Risk Charge	934,185	...................................	934,185	...................................	...................................	...................................	...................................
2702	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2703	....................................	....................................	....................................	....................................	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	...................................	...................................	...................................	...................................	...................................	...................................	...................................
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	934,185		934,185

(a) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which which columns are affected.

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

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

Analysis of Operations by Lines of Business - Group Annuities

N O N E

Analysis of Operations by Lines of Business - Accident and Health

N O N E

Analysis of Increase in Reserves During the Year - Individual Life Insurance

N O N E

Analysis of Increase in Reserves During the Year - Group Life Insurance

N O N E

6.4, 6.5, 7.1, 7.2

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE AEL RE VERMONT II, INC

ANALYSIS OF INCREASE IN RESERVES DURING THE YEAR - INDIVIDUAL ANNUITIES (a)

		1		Deferred		6	7
			2	3	4	5	Life Contingent
					Variable Annuities	Variable Annuities	Payout (Immediate
		Total	Fixed Annuities	Indexed Annuities	with Guarantees	without Guarantees	and Annuitizations)	Other Annuities
	Involving Life or Disability Contingencies (Reserves)
	(Net of Reinsurance Ceded)
1.	Reserve December 31 of prior year	...................................	...................................	...................................	...................................	...................................	...................................	...................................
2.	Tabular net premiums or considerations	............ 1,190,069,836	...................................	............ 1,190,069,836	...................................	...................................	...................................	...................................
3.	Present value of disability claims incurred	..............XXX	XXX	XXX	XXX	XXX	XXX	XXX
4.	Tabular interest	................(62,867,594)	...................................	................(62,867,594)	...................................	...................................	...................................	...................................
5.	Tabular less actual reserve released	...................................	...................................	...................................	...................................	...................................	...................................	...................................
6.	Increase in reserve on account of change in valuation basis	...................................	...................................	...................................	...................................	...................................	...................................	...................................
7.	Other increases (net)
8.	Totals (Lines 1 to 7)	1,127,202,242	...................................	1,127,202,242	...................................	...................................	...................................	...................................
9.	Tabular cost	...................................	...................................	...................................	...................................	...................................	...................................	...................................
10.	Reserves released by death	..............XXX	XXX	XXX	XXX	XXX	XXX	XXX
11.	Reserves released by other terminations (net)	...................................	...................................	...................................	...................................	...................................	...................................	...................................
12.	Annuity, supplementary contract and disability payments involving life contingencies	...................................	...................................	...................................	...................................	...................................	...................................	...................................
13.	Net transfers to or (from) Separate Accounts
14.	Total Deductions (Lines 9 to 13)
15.	Reserve December 31 of current year	1,127,202,242		1,127,202,242
	Cash Surrender Value and Policy Loans
16.	CSV Ending balance December 31, current year	...................................	...................................	...................................	...................................	...................................	...................................	...................................
17.	Amount Available for Policy Loans Based upon Line 16 CSV

(a) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which columns are affected.

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

7.3