Portfolio
Portfolio Profile for the Combined Estate of Retirement Value, LLC & Hill Country Funding LLC, as of April 30, 2020
Policies owned by the Combined Estates of
Retirement Value & Hill Country Funding
| Internal Code | Carrier | Face Amount | Matured |
|---|---|---|---|
| AGL06L-102009-LM | American General | $2,500,000 | 7/21/2014 |
| AGL130-012110-PM | American General Life & Accident Ins. Co. | $2,000,000 | 6/6/2018 |
| AGL66L-071509-LB | American General | $750,000 | 12/14/2023 |
| AGL73L-031909-WK | American General | $3,000,000 | |
| ANI521-102209-BW | American National | $1,000,000 | 12/22/2016 |
| ANI852-031909-HO | American National | $5,000,000 | 2/13/2023 |
| AVL180-030510-MR | AVIVA Life & Annunity | $5,000,000 | |
| AXA091-012110-PC | AXA Equitable | $5,000,000 | |
| AXA146-090409-GJ | AXA Equitable | $2,000,000 | 2/6/2022 |
| AXA335-022410-PS | AXA Equitable | $3,000,000 | |
| AXA597-110209-HM | AXA Equitable | $1,250,000 | 4/22/2013 |
| AXA729-112009-SF | AXA Equitable | $2,000,000 | 2/6/2022 |
| AXA804-031909-RM | AXA Equitable | $4,500,000 | 8/8/2015 |
| AXA826-110509-IC | AXA Equitable | $1,250,000 | |
| AXA994-011510-BD | AXA Equitable | $2,100,000 | |
| HCF-JHL305-LS | John Hancock | $750,000 | 11/7/2018 |
| HCF-AXA058-PF | AXA Equitable | $2,500,000 | 5/10/2021 |
| HCF-JHL442-LS | John Hancock | $1,500,000 | 11/7/2018 |
| HCF-SLF495-LS | Sun Life Financial | $1,500,000 | 11/7/2018 |
| HCF-SLF652-LS | Sun Life Financial | $500,000 | 11/7/2018 |
| HLI814-092509-MI | Hartford Life | $1,500,000 | 3/21/2019 |
| ING036-071509-EB | ING | $3,000,000 | 11/29/2019 |
| ING15J-121409-AK | ING | $1,000,000 | |
| ING201-071509-AG | ING | $5,000,000 | 2/9/2018 |
| ING283-031909-AI | ING | $2,000,000 | 11/28/2020 |
| LBL165-031909-NL | Lincoln Benefit Life | $750,000 | 1/3/2022 |
| LBL361-021710-SW | Lincoln Benefit Life | $2,085,000 | 2/6/2020 |
| LBL771-110209-MF | Lincoln Benefit Life | $2,000,000 | |
| LFG006-103009-JC | Lincoln Financial | $2,000,000 | |
| LFG008-102909-RB | Lincoln Financial | $3,000,000 | |
| LFG081-021710-RC | Lincoln Financial | $1,250,000 | |
| LFG117-021710-HW | Lincoln Financial | $2,000,000 | |
| LFG177-031909-MC | Lincoln Financial | $1,500,000 | 2/11/2019 |
| LFG183-111109-MR | Lincoln Financial | $5,000,000 | |
| LFG248-012610-HM | Lincoln Financial | $3,000,000 | 11/15/2019 |
| LFG272-112009-PS | Lincoln Financial | $1,300,000 | |
| LFG311-031210-HM | Lincoln Financial | $5,000,000 | 11/15/2019 |
| LFG566-071509-MR | Lincoln Financial | $4,700,000 | |
| LFG591-031909-DH | Lincoln Financial | $1,000,000 | |
| LFG735-030510-AS | Lincoln Financial | $5,000,000 | 3/20/2015 |
| LFG740-071509-RL | Lincoln Financial | $5,000,000 | 2/23/2024 |
| LFG782-090409-HO | Lincoln Financial | $5,000,000 | 2/3/2018 |
| LLI899-102209-AT | Lafayette Life | $7,000,000 | |
| MET650-071509-DF | Met Life | $1,000,000 | |
| MMI860-071509-ML | Mass Mutual | $1,500,000 | 4/25/2022 |
| OML446-031909-RL | Old Mutual Life/Fidelity & Guaranty LIC | $2,000,000 | 3/18/2022 |
| PLI140-111109-DM | Pacific Life | $10,000,000 | 11/2/2010 |
| PLI680-102909-JS | Pacific Life | $1,000,000 | |
| PLI930-102009-HM | Pacific Life | $1,250,000 | 4/22/2013 |
| PLI980-111109-JS | Pacific Life | $4,000,000 | |
| SLA338-112009-CD | Sun Life Assurance | $2,000,000 | 9/1/2015 |
| SLA534-031909-LC | Sun Life Assurance | $650,000 | 5/30/2023 |
| TRA281-071509-RJ | Transamerica | $1,500,000 | |
| WPL982-071509-LB | William Penn Life | $500,000 | |
| # Policies | 54 | ||
| # Measuring lives | 46 | ||
| # Maturities | 30 | ||
| # Decedents | 25 |
AXA Equitable and Voya Increase Cost of Insurance
In 2015, AXA Equitable and Voya notified the Receiver that they have raised the cost of insurance rates on eight of the policies in the portfolio.
|
Policy |
Face Value |
|
HCF-AXA058-PF |
$ 2,500,000 |
|
AXA091-012110-PC |
5,000,000 |
|
AXA335-022410-PS |
3,000,000 |
|
AXA826-110509-IC |
1,250,000 |
|
AXA994-011510-BD |
2,100,000 |
|
AXA729-112009-SF |
2,000,000 |
|
AXA146-090409-GJ |
2,000,000 |
|
ING036-071509-EB |
3,000,000 |
|
Total |
$20,850,000 |
Based on the most recent actuarial analyses (performed in February 2016), the Receiver believes that these cost of insurance increases by AXA and Voya will reduce recoveries by investors between $1.8 million and $2.5 million with the most likely outcome being recoveries reduced by $2.2 million. Because of the performance of the portfolio to date, however, the Receiver still anticipates that the portfolio will yield distributable net cash flow roughly equal to 100% of investors’ initial investment, plus or minus 20%. In short, the Plan remains on track despite these rate increases. This issue is discussed in more detail in the Receiver’s December 31, 2015 Annual Report.