ANNUAL STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 OF THE CONDITION AND AFFAIRS OF THE SEPARATE ACCOUNTS OF THE

Transcription

1 * * LIFE AND ACCIDENT AND HEALTH COMPANIES - ASSOCIATION EDITION - SEPARATE ACCOUNTS ANNUAL STATEMENT FOR THE YEAR ENDED DECEMBER, 07 OF THE CONDITION AND AFFAIRS OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life NAIC Group Code NAIC Company Code 6595 Employer's ID Number (Current) (Prior) Organized under the Laws of Massachusetts, State of Domicile or Port of Entry MA Country of Domicile United States of America Type of Separate Accounts Insulated [ X ] Non-Insulated [ ] Incorporated/Organized 05/5/85 Commenced Business 08/0/85 Statutory Home Office 95 State Street, Springfield, MA, US 0 (Street and Number) (City or Town, State, Country and Zip Code) Main Administrative Office 95 State Street (Street and Number) Springfield, MA, US 0, (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number) Mail Address 95 State Street, Springfield, MA, US 0 (Street and Number or P.O. Box) (City or Town, State, Country and Zip Code) Primary Location of Books and Records 95 State Street (Street and Number) Springfield, MA, US 0, (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number) Internet Website Address Statutory Statement Contact Sean G. McCallen, -7-9 (Name) (Area Code) (Telephone Number) smccallen@massmutual.com, ( Address) (FAX Number) OFFICERS President and Chief Executive Officer Roger William Crandall Treasurer Todd Garett Picken Secretary Pia Denise Flanagan Appointed Actuary Douglas Wright Taylor OTHER Elizabeth Ward Chicares, Executive Vice President, Chief Financial Officer and Chief Actuary Michael Robert Fanning, Executive Vice President Melvin Timothy Corbett, Executive Vice President and Chief Investment Officer Mark Douglas Roellig #, Executive Vice President and Chief Technology and Administrative Officer Adnan Omar Ahmed, Executive Vice President Geoffrey James Craddock #, Chief Risk Officer DIRECTORS OR TRUSTEES Roger William Crandall - Chairman Karen Hall Bechtel Mark Thomas Bertolini Kathleen Ann Corbet - Lead Director James Henry DeGraffenreidt, Jr. Robert Alan Essner Isabella Davidov Goren Jeffrey Marc Leiden Marc Francis Racicot Laura Jeanne Sen William Taylor Spitz Howard Todd Stitzer State of County of Massachusetts Hampden SS: The officers of this reporting entity being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period stated above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as herein stated, and that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statement of all the assets and liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions therefrom for the period ended, and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Procedures manual except to the extent that: () state law may differ; or, () that state rules or regulations require differences in reporting not related to accounting practices and procedures, according to the best of their information, knowledge and belief, respectively. Furthermore, the scope of this attestation by the described officers also includes the related corresponding electronic filing with the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of the enclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition to the enclosed statement. Roger William Crandall Pia Denise Flanagan Todd Garett Picken President and Chief Executive Officer Secretary Treasurer a. Is this an original filing? Yes [ X ] No [ ] Subscribed and sworn to before me this b. If no, day of. State the amendment number. Date filed. Number of pages attached

2 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life ASSETS General Account Basis Current Year Fair Value Basis Total (Cols. + ) Prior Year. Bonds (Schedule D) 9,879,5, 9,879,5, 8,6,968,87. Stocks (Schedule D):. Preferred stocks. Common stocks 6,0,587,7 6,0,587,7 9,95,7,6. Mortgage loans on real estate (Schedule B),077,889,077,889,,650. Real estate (Schedule A):. Properties held for the production of income (less $ encumbrances). Properties held for sale (less $ encumbrances) 5. Contract loans 6. Cash ($ (8,686,87) Schedule E - Part ), and cash equivalents ($,50,7,66, Schedule E - Part ),,56,9,,56,9,7,70,7 7. Short-term investments (Schedule DA) 89,78,09 89,78,09 659,5,5 8. Derivatives (Schedule DB) 9,, 9,,,,00 9. Other invested assets (Schedule BA) 707,6,59 707,6,59 79,80, Securities lending reinvested collateral assets (Schedule DL). Aggregate write-ins for invested assets. Subtotals, cash and invested assets (Lines to ) 68,87,8,7 68,87,8,7 6,76,87,086. Investment income due and accrued,86,999,86,999 5,80,8. Receivables for securities,7,098,7,098,7,78 5. Net adjustment in assets and liabilities due to foreign exchange rates,7,7,79 6. Aggregate write-ins for other than invested assets , Total (Lines to 6) 69,6,56,69 69,6,56,69 6,0,97, DETAILS OF WRITE-INS 98. Summary of remaining write-ins for Line from overflow page 99. Totals (Lines 0 thru 0 plus 98)(Line above) 60. Foreign income tax recoverable , Summary of remaining write-ins for Line 6 from overflow page 699. Totals (Lines 60 thru 60 plus 698)(Line 6 above) ,009 Total

3 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life LIABILITIES AND SURPLUS General Account Basis Current Year Fair Value Basis Total (Cols. + ) Prior Year. Aggregate reserve for life, annuity and accident and health contracts (Exhibit, Line , Col. ) 6,5,705,78 6,5,705,78 58,,66,5. Liability for deposit-type contracts (Exhibit, Line 9, Col. ) 5,80,7,795 5,80,7,795,09,569,05. Interest Maintenance Reserve. Charges for investment management, administration and contract guarantees due or accrued 7,805,07 7,805,07 8,079, 5. Investment expenses due or accrued (Exhibit, Line ) 9,509 9,509 9,90 6. Investment taxes, licenses and fees due or accrued, excluding federal income taxes (Exhibit, Line 8) 7. Federal and foreign income taxes due or accrued (excluding deferred taxes) 8. Reserve for future federal income taxes 9. Unearned investment income 0. Other transfers to general account due or accrued (net) (including $ 66,560,95 accrued expense allowances recognized in reserves),095,709,095,709 80,507,79. Remittances and items not allocated 69,860,7 69,860,7 9,088,8. Derivatives 6,8,60 6,8,60,56,0. Payable for securities 89,65, 89,65, 58,95,89. Payable for securities lending 5. Net adjustment in assets and liabilities due to foreign exchange rates 6. Aggregate write-ins for liabilities 558,8 558,8 85, Total liabilities (including $ 8,875,59 due or accrued net transfers to or (from) the general account) 69,6,5,56 69,6,5,56 6,9,808,07 8. Contributed surplus,0,0 9,9,9 9. Aggregate write-ins for special surplus funds 0. Unassigned funds. Surplus (Lines 8 through 0),0,0 9,9,9. Totals 69,6,56,69 69,6,56,69 6,0,97,0 DETAILS OF WRITE-INS 60. Annuitant mortality fluctuation fund 557,05 557,05 50, Claims in course of settlement 80,589 80,589 (9,97) 60. Derivatives accrued interest on swaps (78,85) (78,85) 8, Summary of remaining write-ins for Line 6 from overflow page 699. Totals (Lines 60 thru 60 plus 698)(Line 6 above) 558,8 558,8 85, Summary of remaining write-ins for Line 9 from overflow page 999. Totals (Lines 90 thru 90 plus 998)(Line 9 above) Total

4 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life SUMMARY OF OPERATIONS Current Year Prior Year. Transfers to Separate Accounts:. Net premiums and annuity considerations for life and accident and health contracts 6,96,787,00 6,8,868,6. Considerations for supplementary contracts with life contingencies. Aggregate write-ins for other transfers to Separate Accounts. Totals (Lines. to.) 6,96,787,00 6,8,868,6. Transfers on account of deposit-type contracts (including $,,655,06 deposits less $,,09,859 withdrawals),90,65,0,8,0,98. Net investment income and capital gains and losses 7,967,78,99,,57,95. Aggregate write-ins for other income,88 5. Totals (Lines. to ) 6,066,59,95 0,808,6,9 DEDUCT: 6. Transfers from the Separate Account on account of contract benefits: 6. Death benefits 6,688,70,99,89 6. Matured endowments 6. Annuity benefits 6,956,9 6,55,9 6. Payments on supplementary contracts with life contingencies 6.5 Accident and health benefits 6.6 Surrender benefits and withdrawals for life contracts 8,8,80, 7,79,88,9 6.7 Aggregate write-ins for other transfers from Separate Accounts on account of contract benefits 7. Transfers on account of policy loans 0,9,07,86,55 8. Net transfer of reserves from or (to) Separate Accounts 8,75,7 57,95,9 9. Other transfers from the Separate Accounts: 9. Federal and foreign income taxes incurred 9. Change in expense allowances recognized in reserves (0,6,9) (,968,85) 9. Aggregate write-ins for other transfers from Separate Accounts 678,558 6,7 0. Subtotals (Lines 6. to 9.) 9,078,8,907 8,07,97,80. Fees associated with charges for investment management, administration and contract guarantees 7,880,75 55,788,5. Increase in aggregate reserve for life and accident and health contracts,00,9, 659,0,808. Increase in liability for deposit-type contracts,60,58,7,85,07,60. Increase in reserve for future federal income taxes 5. Aggregate write-ins for reserves and funds 80,05 (5,80) 6. Totals (Lines 0 to 5) 6,065,588,08 0,808,58,0 7. Net gain from operations (including $ unrealized capital gains) (Line 5 minus Line 6),00,57,8 SURPLUS ACCOUNT 8. Surplus, December, prior year 9,9,9 9,,6 9. Net gain from operations (Line 7),00,57,8 0. Surplus contributed or (withdrawn) during year (0,9,70) (7,79). Change in reserve on account of change in valuation basis, (increase) or decrease. Transfer from Separate Accounts of the change in expense allowances recognized in Line. Aggregate write-ins for gains and losses in surplus 60,00. Surplus, December, current year (Page, Line ),0 9,9,9 DETAILS OF WRITE-INS Summary of remaining write-ins for Line. from overflow page Totals (Lines 0.0 thru 0.0 plus 0.98)(Line. above) 00. Miscellaneous, Summary of remaining write-ins for Line from overflow page 099. Totals (Lines 00 thru 00 plus 098)(Line above), Summary of remaining write-ins for Line 6.7 from overflow page Totals (Lines thru plus )(Line 6.7 above) Miscellaneous 678,558 6, Summary of remaining write-ins for Line 9. from overflow page Totals (Lines 09.0 thru 09.0 plus 09.98)(Line 9. above) 678,558 6,7 50. Claims in course of settlement 7,086 (0,7) 50. Change in annuitant mortality fluctuation fund 06,9 58, Summary of remaining write-ins for Line 5 from overflow page 599. Totals (Lines 50 thru 50 plus 598)(Line 5 above) 80,05 (5,80) 0. Capital preservation supplemental reserve 60, Summary of remaining write-ins for Line from overflow page 99. Totals (Lines 0 thru 0 plus 98)(Line above) 60,00

5 5 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life ANALYSIS OF OPERATIONS BY LINES OF BUSINESS Ordinary Group Accident and Health 9 Total Life Insurance Individual Annuities Supplementary Contracts 5 Life Insurance 6 Annuities 7 Group 8 Other Aggregate of All Other Lines of Business. Transfers to Separate Accounts:. Net premiums and annuity considerations for life and accident and health contracts 6,96,787,00 55,0,90 5,968,60 6,6,79 5,60,57,7. Considerations for supplementary contracts with life contingencies. Aggregate write-ins for other transfers to Separate Accounts. Totals (Lines. to.) 6,96,787,00 55,0,90 5,968,60 6,6,79 5,60,57,7. Transfers on account of deposit-type contracts (including $,,655,06 deposits less $,,09,859 withdrawals),90,65,0 (7,06),90,6,9. Net investment income and capital gains and losses 7,967,78,99 8,007,78,705,9,605 65,5,78 6,05,,9. Aggregate write-ins for other income 5. Totals (Lines. to ) 6,066,59,95 6,05,658,0,,89 7,790,557,58,50,5 DEDUCT: 6. Transfers from the Separate Account on account of contract benefits: 6. Death benefits 6,688,70 55,65,58 7,05,8 6. Matured endowments 6. Annuity benefits 6,956,9 6,9,7,86 6. Payments on supplementary contracts with life contingencies 6.5 Accident and health benefits 6.6 Surrender benefits and withdrawals for life contracts 8,8,80, 70,5,6,00,0,5 8,65,7 7,78,77,6 6.7 Aggregate write-ins for other transfers from Separate Accounts on account of contract benefits 7. Transfers on account of policy loans 0,9,07 0,69,0 07,8 9,686 5,5 8. Net transfer of reserves from or (to) Separate Accounts 8,75,7 (,6,996) (,78,) (,50,6) 7,59,5 9. Other transfers from the Separate Accounts: 9. Federal and foreign income taxes incurred 9. Change in expense allowances recognized in reserves (0,6,9) 758,78 (,,597) 9. Aggregate write-ins for other transfers from Separate Accounts 678,558, ,5 0. Subtotals (Lines 6. to 9.) 9,078,8,907,5,06,56,5,98,,67 7,766,0,666. Fees associated with charges for investment management, administration and contract guarantees 7,880,75,5,08 07,,68,6,57 0,9,868. Increase in aggregate reserve for life and accident and health contracts,00,9, 9,8,58 856,7,0 5,8,76,059,077,97. Increase in liability for deposit-type contracts,60,58,7 8,780,60,59,96. Increase in reserve for future federal income taxes 5. Aggregate write-ins for reserves and funds 80,05 7,086 06,9 6. Totals (Lines 0 to 5) 6,065,588,08 6,05,658,0,,89 7,790,557,57,500,99 7. Net gain from operations (including $ unrealized capital gains) (Line 5 minus Line 6),00,57,00,57 DETAILS OF WRITE-INS Summary of remaining write-ins for Line. from overflow page Totals (Lines 0.0 thru 0.0 plus 0.98) (Line. above) Summary of remaining write-ins for Line from overflow page 099. Totals (Lines 00 thru 00 plus 098) (Line above) Summary of remaining write-ins for Line 6.7 from overflow page Totals (Lines thru plus ) (Line 6.7 above) Miscellaneous 678,558, , Summary of remaining write-ins for Line 9. from overflow page Totals (Lines 09.0 thru 09.0 plus 09.98) (Line 9. above) 678,558, ,5 50. Claims in course of settlement 7,086 7, Change in annuitant mortality fluctuation fund 06,9 06, Summary of remaining write-ins for Line 5 from overflow page 599. Totals (Lines 50 thru 50 plus 598) (Line 5 above) 80,05 7,086 06,9

6 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life ANALYSIS OF INCREASE IN RESERVES DURING THE YEAR Ordinary Group Total Life Insurance Individual Annuities Supplementary Contracts 5 Life Insurance 6 Annuities. Reserve Dec. of prior year 58,,66,5 998,77,686,76,590,06,665,859,7,7,68,87. Tabular net premiums and considerations for annuities and supplementary contracts with life contingencies 6,96,787,00 55,0,90 5,968,60 6,6,79 5,60,57,7. Increase or (decrease) from investment results after provision for federal income taxes 7,58,6,57 8,007,70,705,6,79 65,5,77 5,06,7,886. Tabular less actual reserve released 5. Increase in reserve on account of change in valuation basis 6. Other increases (net) 6. Change in excess of VM-0 deterministic/stochastic reserve over net premium reserve XXX XXX XXX XXX 7. Totals (Lines to 6) 7,669,80,89,,0,6,96,805,,77,650,97 55,00,59, 8. Net transfer of reserves from or (to) Separate Accounts 8,75,7 (,6,996) (,78,) (,50,6) 7,59,5 9. Tabular cost 0. Reserves released by death 6,688,70 55,65,58 7,05,8. Reserves released by other terminations (net) 8,8,80, 70,5,6,00,0,5 8,65,7 7,78,77,6. Transfers on account of annuity and supplementary contract payments involving life contingencies 6,956,9 6,9,7,86. Charges for investment management, administration and contract guarantees 7,855,8,5,08 07,,68,6,57 0,67,5. Aggregate write-ins for other decreases in reserves,58,66,,6 (0,608,59) 9, , Total deductions (Lines 8 to ) 9,5,57, 86,8,500,6,9,05 5,965,79 7,867,878, 6. Reserve December of current year 6,5,705,78,07,99,86,0,,077,70,68,50 7,,76, DETAILS OF WRITE-INS 0. Change in policy loans 0,9,07 0,69,0 07,8 9,686 5,5 0. Change in surrender charge offset (0,6,9) 758,78 (,,597) 0. Miscellaneous 678,559, ,5 98. Summary of remaining write-ins for Line from overflow page 80,05 7,086 06,9 99. Totals (Lines 0 thru 0 plus 98) (Line above),58,66,,6 (0,608,59) 9, ,675 6

7 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT OF NET INVESTMENT INCOME Collected During Year Earned During Year. U.S. Government bonds (a) 8,85,07 89,,686. Bonds exempt from U.S. tax (a). Other bonds (unaffiliated) (a) 58,7,075 59,06,. Bonds of affiliates (a). Preferred stocks (unaffiliated) (b). Preferred stocks of affiliates (b). Common stocks (unaffiliated),9,009,59,90,80,75. Common stocks of affiliates. Mortgage loans (c),775 9,690. Real estate (d) 0,87,6 5 Contract loans 6 Cash, cash equivalents and short-term investments (e) 6,87,7 6,56, 7 Derivative instruments (f) (5,) (09,) 8. Other invested assets 9. Aggregate write-ins for investment income,6,600,6, Total gross investment income,57,5,709,577,85,589. Investment expenses (g),8,0. Investment taxes, licenses and fees, excluding federal income taxes (g) (,568). Interest expense (h). Depreciation on real estate and other invested assets (i) 5. Aggregate write-ins for deductions from investment income 6. Total deductions (Lines through 5),8,66 7. Net investment income (Line 0 minus Line 6),576,0,97 DETAILS OF WRITE-INS 090. Miscellaneous gain,6,600,6, Summary of remaining write-ins for Line 9 from overflow page Totals (Lines 090 thru 090 plus 0998) (Line 9, above),6,600,6, Summary of remaining write-ins for Line 5 from overflow page 599. Totals (Lines 50 thru 50 plus 598) (Line 5, above) (a) Includes $ accrual of discount less $ amortization of premium and less $ 76,06,89 paid for accrued interest on purchases. (b) Includes $ accrual of discount less $ amortization of premium and less $ paid for accrued dividends on purchases. (c) Includes $ accrual of discount less $ amortization of premium and less $ paid for accrued interest on purchases. (d) Includes $ for company s occupancy of its own buildings; and excludes $ interest on encumbrances. (e) Includes $, accrual of discount less $ 6, amortization of premium and less $,7 paid for accrued interest on purchases. (f) Includes $ accrual of discount less $ amortization of premium. (g) Includes $ investment expenses and $ investment taxes, licenses and fees, excluding federal income taxes, attributable to segregated and Separate Accounts. (h) Includes $ interest on surplus notes and $ interest on capital notes. (i) Includes $ depreciation on real estate and $ depreciation on other invested assets. EXHIBIT OF CAPITAL GAINS (LOSSES) 5 Total Realized Capital Gain (Loss) (Columns + ) Change in Unrealized Capital Gain (Loss) Change in Unrealized Foreign Exchange Capital Gain (Loss) Realized Gain (Loss) On Sales or Maturity Other Realized Adjustments. U.S. Government bonds (57,9,090) (57,9,090) 65,78,79. Bonds exempt from U.S. tax. Other bonds (unaffiliated) (,,78) (,,78) 0,58,856 9,990. Bonds of affiliates. Preferred stocks (unaffiliated). Preferred stocks of affiliates. Common stocks (unaffiliated),07,79,5,07,79,5,00,696,7 0,0. Common stocks of affiliates. Mortgage loans (,0) (,0) (0,76). Real estate 5. Contract loans 6. Cash, cash equivalents and short-term investments 5,70,56 5,70,56 7. Derivative instruments,05,8 (56,8),989,00,077,576 (96,) 8. Other invested assets 6,876,66 6,876,66 8,8,97 9. Aggregate write-ins for capital gains (losses) 5,56 5, Total capital gains (losses),0,99,6 (,85),0,96,59,7,999,65 9,06 DETAILS OF WRITE-INS 090. Capital gain(loss) on foreign currency 5,56 5, Summary of remaining write-ins for Line 9 from overflow page Totals (Lines 090 thru 090 plus 0998) (Line 9, above) 5,56 5,

8 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT - INVESTMENT EXPENSES. Rent. Salaries and wages. Contributions for benefit plans for employees (a). Payments to employees under non-funded benefit plans 5. Other employee welfare 6. Legal fees and expenses 7. Fees of public accountants and consulting actuaries 8. Traveling expenses 9. Postage, express, telegraph and telephone 0. Printing and stationery. Cost or depreciation of furniture and equipment. Rental of equipment. Books and periodicals. Bureau and association fees 5. Insurance, except on real estate 6. Miscellaneous losses 7. Collection and bank service charges,8,7 8. Sundry general expenses 9. Real estate expenses 0, Investment expenses not included elsewhere. Aggregate write-ins for other investment expenses. Investment expenses incurred,8,0 Reconciliation with Exhibit 5. Investment expenses unpaid December, prior year 9,90. Investment expenses unpaid December, current year 9, Investment expenses paid during year (Lines + - ) (to Exhibit 5, Line ),0, DETAILS OF WRITE-INS 98. Summary of remaining write-ins for Line from overflow page 99. Totals (Lines 0 thru 0 plus 98) (Line above) Amount (a) Includes $ on account of prior service. EXHIBIT - INVESTMENT TAXES, LICENSES AND FEES (EXCLUDING FEDERAL INCOME TAXES) Amount. Real estate taxes (,568). State insurance department fees. Other state taxes, including $ for employee benefits. U.S. Social Security taxes 5. All other taxes 6. Taxes, licenses and fees incurred (,568) Reconciliation with Exhibit 5 7. Taxes, licenses and fees unpaid December, prior year 8. Taxes, licenses and fees unpaid December, current year 9. Taxes, licenses and fees paid during year (Lines ) (to Exhibit 5, Line ) (,568) 8

9 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT - AGGREGATE RESERVE FOR LIFE, ANNUITY AND ACCIDENT AND HEALTH CONTRACTS Description of Valuation Basis Total Ordinary Group CSO.00% Mod CRVM,8,9,8, CSO 5.50% CRVM 8,96,57 8,96, CSO 5.00% CRVM 00,0 00, CSO.50% CRVM 680,89,6 680,89, CSO.00% CRVM 8,578,8 8,578, CSO.00% CRVM 5,9,887 5,9, CSO.50% CRVM 9,78,95 9,78, CSO Account Value,85,8,7 6,999,96,689,8, CSO Account Value,97,587 0,8,9,556, Life Insurance: Totals,79,676,9,07,99,86,70,68, Deferred Annuity.75% to 0.00% CARVM,95,890,987,95,890, Annuity Reserve 5,585,6,9 80,,090 5,50,7, Annuity Reserve 95 to % GA MBI 8,80 8, Group Home Office and Field Plans,97,96,59,97,96, Annuities: Totals 59,66,09,99,0,,077 7,,76, Totals (to Page, Line ) 6,5,705,78,08,0,9 9,,00,85 EXHIBIT - INTERROGATORIES. Has the reporting entity ever issued both participating and non-participating variable life insurance contracts? Yes [ X ] No [ ]. Does the reporting entity at present issue both participating and non-participating variable life insurance contracts? Yes [ X ] No [ ]. If not, state which kind is issued. Is any surrender value promised in excess of the reserve as legally computed? Yes [ ] No [ X ] N/A [ ]. If so, the amount of such excess must be included in surrender values in excess of reserves otherwise required and carried in this schedule. Has this been done? Yes [ ] No [ ] N/A [ X ] Attach a statement of methods employed in the valuation of variable life insurance contracts issued at, or subsequently subject to, an extra premium or in the valuation of contracts otherwise issued on lives classified as substandard for the plan of contract issued or on special class lives (including paid-up variable life insurance). EXHIBIT A - CHANGES IN BASIS OF VALUATION DURING THE YEAR (Including supplementary contracts set up on a basis other than that used to determine benefits) Valuation Basis Increase in Actuarial NONE Reserve Due to Description of Valuation Class Changed From Changed To Change Totals (Page 6, Line 5, Analysis of Increase in Reserves) 9

10 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT - DEPOSIT TYPE CONTRACTS Total Guaranteed Interest Contracts Annuities Certain Supplemental Contracts 5 Dividend Accumulations or Refunds 6 Premium and Other Deposit Funds. Balance at the beginning of the year,09,569,05,09,569,05. Deposits received during the year,,655,06,,655,06. Investment earnings credited to account 7,87,505 7,87,505. Other net change in reserves (9,69) (9,69) 5. Fees and other charges assessed 6,,7 6,,7 6. Surrender charges 7. Net surrender or withdrawal payments,,09,859,,09, Other net transfer to or (from) general account 9. Balance at the end of current year (Lines ) 5,80,7,795 5,80,7,795 0

11 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT 5 - RECONCILIATION OF CASH AND INVESTED ASSETS DEVELOPMENT OF INCREASE IN CASH. Transfers to Separate Accounts on account of:. Net premiums and considerations for annuities and supplementary contracts with life contingencies 6,96,787,00. Aggregate write-ins for other transfers to Separate Accounts. Deposits on deposit-type contract funds and other liabilities without life or disability contingencies,,655,06. Investment income collected,57,5,709. Consideration on disposal of short-term bonds net of purchases 7,0, Consideration on disposal of investments (excluding short-term bonds),89,79,5 6. Aggregate write-ins for other increases in funds from operations 7. Total (Lines to 6) 6,665,58,0 8. Cost of investments acquired (excluding short-term bonds) 6,8,98, Transfers from Separate Accounts on account of contract benefits: 9. Death benefits,76,6 9. Matured endowments 9. Annuity benefits 6,956,9 9. Supplementary contract benefits with life contingencies 9.5 Accident and health benefits 9.6 Surrender benefits and withdrawals for life contracts 8,8,80, 9.7 Policy loans (net) 0,9, Transfers of reserves (net) 8,75,7 9.9 Aggregate write-ins for other transfers from Separate Accounts on account of contract benefits 0. Other transfers from Separate Accounts: 0. Federal income taxes 0. Aggregate write-ins for other transfers from Separate Accounts (0,09,958). Withdrawals on deposit-type contract funds and other liabilities without life or disability contingencies,,09,859. Investment expenses (Exhibit, Line 5),0,. Fees associated with investment management, administration and contract guarantees 75,5,89. Investment taxes, licenses and fees, excluding federal income taxes (Exhibit, Line 9) (,568). Total (Lines 8 to ) 7,57,8,68 5. Funds from operations (Line 7 minus Line ) (88,85,7) 6. Surplus contributed or (withdrawn) during year (0,9,70) 7. Aggregate write-ins for other changes in funds 8. Total funds (includes $,5,557,05 net transfers from general account) (Lines 5 to 7) (89,985,7) 9. Increase in payable for investments acquired, net of receivable for investments sold 90,75,0 0. Decrease in policy loans. Aggregate write-ins for other reconciling items 5,56. Increase in cash (Line 8 to ) (50,79,88) RECONCILIATION BETWEEN YEARS. Cash and invested assets, December st of prior year 6,76,87,086. Increase in cash (Line ) (50,79,88) 5. Cost of invested assets acquired 8,665,8,6 6. Adjusted cost of assets disposed of,60,7,6 7. Increase in policy loans 8. Accrual of discount less amortization of premium 08,0 9. Depreciation on real estate and other invested assets 0. Increase in net unrealized gains,8,7,95. Aggregate write-ins for other reconciling items. Cash and invested assets, December st of current year 68,87,8, DETAILS OF WRITE-INS Summary of remaining write-ins for Line. from overflow page Totals (Lines 0.0 thru 0.0 plus 0.98) (Line. above) Summary of remaining write-ins for Line 6 from overflow page Totals (Lines 060 thru 060 plus 0698) (Line 6 above) Summary of remaining write-ins for Line 9.9 from overflow page Totals (Lines thru plus ) (Line 09.9 above) 0.0. Change in remittances and items not allocated (0,77,9) 0.0. Miscellaneous income / loss 678, Summary of remaining write-ins for Line 0. from overflow page Totals (Lines 0.0 thru 0.0 plus 0.98) (Line 0. above) Summary of remaining write-ins for Line 7 from overflow page 799. Totals (Lines 70 thru 70 plus 798) (Line 7 above) Amount (0,09,958) 0. Foreign currency gain 5, Summary of remaining write-ins for Line from overflow page 99. Totals (Lines 0 thru 0 plus 98) (Line above) 5, Summary of remaining write-ins for Line from overflow page 99. Totals (Lines 0 thru 0 plus 98) (Line above)

12 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life EXHIBIT 6 - GUARANTEED INSURANCE AND ANNUITY PRODUCTS Amount Percent of Total. Aggregate reserve for life, annuity and accident and health contracts (Included in Exhibit ):. Life insurance. Annuities. Supplementary contracts with life contingencies. Accident and health.5 Miscellaneous reserves.6 Total. Liability for deposit-type contracts (included in Exhibit ):. Guaranteed interest contracts. Annuities certain. Supplemental contracts. Dividend accumulations or refunds.5 Premium and other deposit funds.6 Total. Other liabilities (included in Page, Lines, 0, & ). Total liabilities associated with guarantees (Lines ) 5. Total liabilities not associated with guarantees 69,6,5, Total Separate Accounts liabilities (Lines + 5 = Page, Line 7) 69,6,5, %

13 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life GENERAL INTERROGATORIES Product Mix.0 Identify the product types in the separate account, quantify the assets associated with those products, indicate if there are any guarantees associated with those products, quantify seed money and quantify other fees and expenses due to the general account: Note: A distinct product identifier shall be used for each product and shall be used consistently throughout the interrogatory. Guarantees Associated with the Product Yes/No 5 Fees and Expenses Due to the General Account Separate Account Additional Required Product Identifier Assets Seed Money Surplus Amounts Non-guaranteed Retirement Services SIAs 5,0,68,67 NO, Separate Account Guaranteed Interest Contract 8,59,87,0 YES Individual Variable Annuity,5,5, YES Stable Value Bank-owned Life Insurance,57,505,0 YES Individual Variable Universal Life,05,08,77 YES Capital Preservation 55,756,05 YES Corporate-owned Life Insurance 9,550, YES Group Variable Universal Life 69,9,06 YES Individual Immediate Variable Annuity 6,9,97 YES Supplemental Account,87,05 NO,87,05 Cornerstone Hotel Income Equity Fund 8,9 NO Included in the Separate Account Assets total are contracts totaling $09,06,59 that are noninsulated, exclusive of seed money and unsettled fees and expenses. Total MassMutual separate account assets are $69,6,56,69 at //7. These non-insulated contracts represent 0.0% of MassMutuals separate account balance at //7. Given the immateriality of the balances, we are disclosing the existence of these non-insulated contracts, but are not preparing a separate green book blank. Totals 69,6,56,69 XXX,,87,05 Note: Additional Required Surplus Amounts is defined as additional or permanent surplus that is required to be retained in the separate account in accordance with state law or regulation. These amounts should not include reinvested separate account investment proceeds that have not been allocated to separate account contract holders..0 Did the reporting entity remit seed money, other fees and expenses or additional required surplus amounts to the general account during the current year? Yes [ X ] No [ ].0 If yes, provide information on the total gross amount of seed money, other fees and expenses or additional required surplus amounts remitted to the general account during the current year (these amounts should not be reflected in the seed money totals in.0):.0 Seed Money $ 0,9,70.0 Other Fees and Expenses $.0 Additional Required Surplus Amounts $.0 Did the reporting entity receive seed money from the general account in the current year? Yes [ ] No [ X ].05 If yes, provide information on the total gross amount of seed money received in the current year: (If amounts were both received and remitted in the current year, include the gross amounts in both.0 and.05.).05 Seed Money Received $.06 Does the reporting entity consider any of the seed money reflected in separate accounts to be insulated from the general account? Yes [ ] No [ X ] N/A [ ].07 If yes, provide information on the amount of seed money the reporting entity considers insulated from the general account:.07 Insulated Seed Money $.08 Does the reporting entity have a policy for repatriating seed money or remitting fees and expenses due and additional required surplus amounts to the general account:.08 Seed Money Yes [ X ] No [ ].08 Other Fees and Expenses Yes [ X ] No [ ].08 Additional Required Surplus Amounts Yes [ X ] No [ ].09 Provide detail on the time duration for which seed money, other fees and expenses due to the general account and additional required surplus amounts have been held in the separate account: Seed Money Fees and Expenses Due to the General Account Additional Required Surplus Amounts.09 Under Year.09 Year - Years.09 Over Years - 5 Years.09 Over 5 Years,,87, Total,,87,05.0 For seed money, other fees and expenses, and additional required surplus amounts held in the separate account, does the reporting entity invest these funds in accordance with investment directives of the general account:.0 Seed Money Yes [ ] No [ X ] N/A [ ].0 Other Fees and Expenses Yes [ ] No [ X ] N/A [ ].0 Additional Required Surplus Amounts Yes [ ] No [ X ] N/A [ ] 6

14 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life GENERAL INTERROGATORIES. If no, does the reporting entity have stated policy and procedure for the investment of seed money, other fees and expenses, and additional required surplus amounts that are retained with the separate account?. Seed Money Yes [ X ] No [ ] N/A [ ]. Other Fees and Expenses Yes [ X ] No [ ] N/A [ ]. Additional Required Surplus Amounts Yes [ X ] No [ ] N/A [ ] Separate Account Products with General Account Guarantees. Does the reporting entity have products with guarantees provided by the general account? Yes [ X ] No [ ]. Has the separate account collected amounts from the general account within the past five years related to separate account guarantees? Yes [ X ] No [ ]. If yes, provide detail on these guarantees paid by the general account: Year Amount.0 As of December, 07 $ 7,568,86.0 As of December, 06 $,69,65.0 As of December, 05 $,5,8.0 As of December, 0 $,099,5.05 As of December, 0 $,87,6. To compensate the general account for the risk taken, for any separate account products with general account guarantees, does the separate account remit risk charges to the general account related to separate account guarantees? Yes [ X ] No [ ].5 If yes, identify the separate account products with risk charges that are remitted to the general account and whether the risk charge for that product is reviewed and opined upon: Product Identifier with Risk Charges Capital Preservation Separate Account Guaranteed Interest Contract Individual Immediate Variable Annuity Individual Variable Annuity Name and Title of Individual who Provided Risk Charge Reviewed and Opined Upon Opinion on Risk Charges Douglas W Taylor, FSA, MAAA, Vice President and Yes Appointed Actuary Douglas W Taylor, FSA, MAAA, Vice President and Yes Appointed Actuary No; the risk charges associated with this product are reviewed for reasonableness and accuracy by the appropriate actuary, but no formal opinion on these product risk charges is required by the NAIC. No; the risk charges associated with this product are reviewed for reasonableness and accuracy by the appropriate actuary, but no formal opinion on these product risk charges is required by the NAIC..6 Provide detail on the risk charges paid to the general account related to separate account guarantees for the past five years: Year Amount.60 As of December, 07 $ 9,58,9.60 As of December, 06 $ 88,77,0.60 As of December, 05 $ 89,05,.60 As of December, 0 $ 8,79, As of December, 0 $ 69,85,096 Investment Directive of Separate Account Activity. Does the reporting entity have products classified within the separate account for which the investment directive is not determined by the contract holder? (Situations in which the investments directive mirrors the general account would not be considered determined by the contract holder; however, having the contract holder select an investment direction from multiple options would meet this criteria.) Yes [ X ] No [ ]. If yes, if these investments would have been included in the general account, would the reporting entity have exceeded the investment limitations imposed on the general account? Yes [ ] No [ X ] N/A [ ]. Provide detail on the separate account investment portfolio and state investment limitations. (This includes the combined separate account and general investments, excluding separate account assets with investment direction determined by the contract holder): Investment Type State Investment Limitation Combined Investment (Separate and General Account) Allocation of Investment Proceeds of Separate Account Activity. Does the reporting entity have separate account assets in which less than 00% of investment proceeds (net of contract fees and assessments) are attributed to a contract holder? (This should identify any situations where there is a ceiling on investment performance results.) Yes [ X ] No [ ].

15 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life GENERAL INTERROGATORIES. If yes, provide detail on the net investment proceeds that were attributed to the contract holder, transferred to the general account and reinvested within the separate account: Transferred to General Account 5 Reinvested Within the Separate Account Net Investment Attributed to Product Identifier Proceeds Contract Holder Non-guaranteed Retirement Services SIAs 5,87,885, 5,87,885,0 88 Separate Account Guaranteed Interest Contract 60,97,90 60,97,0 89 Capital Preservation 7,97, 7,97, Supplemental Account,7 (960,50),00,98. For items reinvested within the Separate Account, does the reporting entity invest these assets in accordance with investment directives of the general account? Yes [ ] No [ X ] N/A [ ]. If no, does the reporting entity have a stated policy and procedure for the reinvestment of investment proceeds within the separate account? Yes [ X ] No [ ] N/A [ ].5 Did the reinvestment of investment proceeds within the separate account result with the company having a combined investment portfolio that exceeded the state investment limitations imposed on the general account? Yes [ ] No [ X ] N/A [ ] Measurement of Separate Account Assets 5. Does the reporting entity report all separate account assets at fair value? Yes [ X ] No [ ] 5. For items not reported at fair value, does the reporting entity report separate account assets at amortized cost, and/or under different measurement methods? 5. Amortized Cost Yes [ ] No [ X ] 5. Other Measurement Methods Yes [ ] No [ X ] 5. If other measurement methods are used, provide explanation on these measurement methods. 5. Identify the assets measured at fair value, amortized cost or another measurement method and the percentage of separate account assets measured under each measurement method: Amount Percentage Description 5. Fair Value $ 69,6,56, % 5. Amortized Cost $ % 5. Other Measurement Methods $ % 5.5 For the assets not measured at fair value, provide a comparison of the reported value to current fair value and identify the unrealized gain or loss that would have been recorded if the assets had been reported at fair value: Assets Held at Amortized Cost Fair Value 5.5 $ $ $ Assets Held at Other Measurement Method Fair Value 5.5 $ $ $ Unrecorded Unrealized Gain/Loss Unrecorded Unrealized Gain/Loss Securities Lending Transactions Within Separate Accounts 6. Does the reporting entity engage in securities lending transactions with separate account assets? Yes [ ] No [ X ] 6. If yes, does the reporting entity have written policies and procedures for such transactions? Yes [ ] No [ ] N/A [ X ] 6. Does the reporting entity obtain approval, or otherwise provide notification to contract holders, regarding securities lending transactions that occur with separate account assets? Yes [ ] No [ ] N/A [ X ] 6. Are all securities lending transactions reported on balance sheet? Yes [ ] No [ ] N/A [ X ] 6.5 Provide a description of the reporting entity s securities lending transaction program, specifically identifying any variations from the securities lending transaction program administered by the general account. 6.6 Provide detail on the current status of separate account transactions by separate account product: 6.6 Amount of any loaned securities within the separate account and the percentage of separate account assets lent 6.6 Identify whether securities lent are reported at book value or market value 6.6 Amount $ 6.6 Percentage % 6.6 Book Value $ 6.6 Market Value $.

16 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life GENERAL INTERROGATORIES 6.6 Detail on collateral received: 6.6 Aggregate Amount Collateral Received 6.6 Open $ Days or Less $ 6.6 to 60 Days $ to 90 Days $ 6.65 Greater than 90 Days $ 6.66 Total Collateral Received $ 6.6 The aggregate fair value of all securities acquired from the sale, trade or use of the accepted collateral (reinvested collateral) $ 6.6 Narrative discussion about sources and uses of collateral: 6.6 Collateral for transactions that extend beyond one year from the reporting date $ 6.7 For the reporting entity s security lending program state the amount of the following as December of the current year: 6.7 Total fair value of reinvested collateral assets reported on Schedule DL, Parts and (Sum of Schedule DL, Parts and, Column 5) $ 6.7 Total book adjusted/carrying value of reinvested collateral assets reported on Schedule DL, Parts and (Sum of Schedule DL, Parts and, Column 6) $ 6.7 Total payable for securities lending reported on the liability page (Page, Line, Column ) $ FHLB Funding Agreements 7. Does the reporting entity report Federal Home Loan Bank (FHLB) funding agreements within the separate account? Yes [ ] No [ X ] 7. Provide detail on the elements that support the classification of FHLB funding agreements within the separate account 7. Provide detail regarding the FHLB funding agreements classified within the separate account: Amount of FHLB Stock Purchased or Owned Amount of Collateral Pledged to the FHLB Total Borrowing or Funding Capacity Currently Available $ $ $ $ Total Reserves Related to FHLB Agreements 7. For funding agreements within the separate account, provide a general description on the nature of the agreement, type of funding (lines of credit, borrowed money, etc) and intended use of funding. Reporting Differences Between GAAP and SAP Financial Statements (This disclosure is applicable to all reporting entities regardless if they file GAAP financial statements) 8. Does the reporting entity file GAAP financial statements? Yes [ ] No [ X ] 8. In accordance with the different separate account reporting requirements between GAAP (SOP 0-) and statutory accounting, does the reporting entity have products that are classified within the separate account that were, or would have been if GAAP financial statements had been completed, required to be reported within the general account under GAAP financials? Pursuant to SOP 0-, all of the following conditions must be met to receive separate account reporting classification under GAAP: Yes [ X ] No [ ] N/A [ ] a. Legal Recognition - The separate account is legally recognized. That is, the separate account is established, approved, and regulated under special rules such as state insurance laws, federal securities laws, or similar foreign laws. b. Legally Insulated - The separate account assets supporting the contract liabilities are legally insulated from the general account liabilities of the insurance enterprise (that is, the contract holder is not subject to insurer default risk to the extent of the assets held in the separate account). c. Investment Directive - The insurer must, as a result of contractual, statutory, or regulatory requirements, invest the contract holder s funds within the separate account as directed by the contract holder in designated investment alternatives or in accordance with specific investment objectives or policies. d. Investment Performance - All investment performance, net of contract fees and assessments, must as a result of contractual, statutory, or regulatory requirements be passed through to the individual contract holder. Contracts may specify conditions under which there may be a minimum guarantee, but not a ceiling, as a ceiling would prohibit all investment performance from being passed through to the contract holder.

17 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life GENERAL INTERROGATORIES 8. Identify all separate account products and identify whether each product was classified within a separate account for GAAP reporting purposes. (For non-gaap filers, this disclosure should reflect whether the GAAP classification would have been the same if GAAP financials had been completed.) For products that were (or would have been) reported differently, identify which SOP 0- condition prevented separate account GAAP classification for that particular product. Product Identifier Capital Preservation Separate Account Guaranteed Interest Contract Stable Value Bank-owned Life Insurance Supplemental Account Cornerstone Hotel Income Equity Fund Corporate-owned Life Insurance Group Variable Universal Life Individual Immediate Variable Annuity Individual Variable Annuity Individual Variable Universal Life Non-guaranteed Retirement Services SIAs Same as GAAP / Condition that Requires GAAP General Account Reporting GAAP GIA classification due to investment performance GAAP GIA classification due to investment performance GAAP GIA classification due to investment performance GAAP GIA classification due to investment performance Same as GAAP Same as GAAP Same as GAAP Same as GAAP Same as GAAP Same as GAAP Same as GAAP.

18 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life Interest Maintenance Reserve N O N E Interest Maintenance Reserve - Amortization N O N E Asset Valuation Reserve - Default Component N O N E Asset Valuation Reserve - Equity Component N O N E Asset Valuation Reserve Replications (Synthetic) Assets N O N E, 5,6, 7,8,9, 0

19 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life OVERFLOW PAGE FOR WRITE-INS Additional Write-ins for Analysis of Increase in Reserves Line Ordinary Group Total Life Insurance Individual Annuities Supplementary Contracts 5 Life Insurance 0. Claims in course of settlement 7,086 7, Change in annuitant mortality fluctuation fund 06,9 06,9 97. Summary of remaining write-ins for Line from overflow page 80,05 7,086 06,9 6 Annuities

20 ANNUAL STATEMENT FOR THE YEAR 07 OF THE SEPARATE ACCOUNTS OF THE Massachusetts Mutual Life SCHEDULE A - VERIFICATION BETWEEN YEARS Real Estate. Book/adjusted carrying value, December of prior year. Cost of acquired:. Actual cost at time of acquisition (Part, Column 6). Additional investment made after acquisition (Part, Column 9). Current year change in encumbrances:. Totals, Part, Column. Totals, Part, Column. Total gain (loss) on disposals, Part, Column 8 5. Deduct amounts received on disposals, Part, NONE Column 5 6. Total foreign exchange change in book/adjusted carrying value: 6. Totals, Part, Column 5 6. Totals, Part, Column 7. Deduct current year s other than temporary impairment recognized: 7. Totals, Part, Column 7. Totals, Part, Column 0 8. Deduct current year s depreciation: 8. Totals, Part, Column 8. Totals, Part, Column 9 9. Book/adjusted carrying value at the end of current period (Lines ) 0. Deduct total nonadmitted amounts. Statement value at end of current period (Line 9 minus Line 0) SCHEDULE B - VERIFICATION BETWEEN YEARS Mortgage Loans. Book value/recorded investment excluding accrued interest, December of prior year,,650. Cost of acquired:. Actual cost at time of acquisition (Part, Column 7). Additional investment made after acquisition (Part, Column 8). Capitalized deferred interest and other:. Totals, Part, Column. Totals, Part, Column. Accrual of discount 5. Unrealized valuation increase (decrease): 5. Totals, Part, Column 9 5. Totals, Part, Column 8 6. Total gain (loss) on disposals, Part, Column 8 7. Deduct amounts received on disposals, Part, Column 5,9 8. Deduct amortization of premium and mortgage interest points and commitment fees 9. Total foreign exchange change in book value/recorded investment excluding accrued interest: 9. Totals, Part, Column 9. Totals, Part, Column 0. Deduct current year s other than temporary impairment recognized: 0. Totals, Part, Column 0. Totals, Part, Column 0. Book value/recorded investment excluding accrued interest at end of current period (Lines ),077,889. Total valuation allowance. Subtotal (Line plus ),077,889. Deduct total nonadmitted amounts 5. Statement value of mortgages owned at end of current period (Line minus Line ),077,889 (0,76) (0,76) (,0) SI0