<PAGE>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON FEBRUARY 1, 2000
FILE NOS.
333-72017
811-09227
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 3 /X/
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY
ACT OF 1940
AMENDMENT NO. 4 /X/
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
(Exact Name of Registrant)
ALLSTATE LIFE INSURANCE COMPANY
(Name of Depositor)
ALLSTATE LIFE INSURANCE COMPANY
3100 SANDERS ROAD
NORTHBROOK, ILLINOIS 60062
1-800/390-1277
(Address and Telephone Number of Depositor's Principal Offices)
MICHAEL J. VELOTTA
SENIOR VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL
ALLSTATE LIFE INSURANCE COMPANY
3100 SANDERS ROAD
NORTHBROOK, ILLINOIS 60062
847/402-2400
(Name, Complete Address and Telephone Number of Agent for Service)
COPIES TO:
RICHARD T. CHOI, ESQUIRE TERRY R. YOUNG, ESQUIRE
FREEDMAN, LEVY, KROLL & SIMONDS ALLSTATE LIFE FINANCIAL SERVICES, INC.
1050 CONNECTICUT AVENUE, N.W. 3100 SANDERS ROAD, J5B
SUITE 825 NORTHBROOK, ILLINOIS 60062
WASHINGTON, D.C. 20036-5366
Approximate date of proposed public offering: Continuous.
It is proposed that this filing will be come effective (check appropriate
box):
/X/ immediately upon filing pursuant to paragraph (b) of Rule 485
/ / on January 31, 2000 pursuant to paragraph (b) of Rule 485
/ / 60 days after filing pursuant to paragraph (a)(1) of Rule 485
/ / on (date) pursuant to paragraph (a)(1) of Rule 485
If appropriate, check the following box:
/ / This post-effective amendment designates a new effective date for a
previsously filed post-effective amendment.
Title of Securities Being Registered: Units of interest in the Allstate Life
Insurance Company Separate Account A under flexible premium deferred variable
annuity contracts.
<PAGE>
EXPLANATORY NOTE
Registrant is filing this post-effective amendment ("Amendment") for the purpose
of adding two new variable sub-accounts that will be available under the
deferred variable annuity contracts described in the registration statement. The
Amendment is not intended to amend or delete any part of the registration
statement, except as specifically noted herein.
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
SUPPLEMENT, DATED FEBRUARY 1, 2000, TO THE
PUTNAM ALLSTATE ADVISOR VARIABLE ANNUITY PROSPECTUS
DATED APRIL 30, 1999
This supplement amends the above-referenced prospectus for the Putnam Allstate
Advisor Variable Annuity Contract (the "Contract"), offered by Allstate Life
Insurance Company, to add two new Variable Sub-Accounts. Please keep this
supplement for future reference together with your prospectus.
COVER PAGE: REPLACE THE SECOND PARAGRAPH WITH THE FOLLOWING:
The Contract currently offers 27 investment alternatives ("INVESTMENT
ALTERNATIVES"). The investment alternatives include 3 fixed account options
("FIXED ACCOUNT OPTIONS") and 24 variable sub-accounts ("VARIABLE
SUB-ACCOUNTS") of the Allstate Life Insurance Company Separate Account A
("VARIABLE ACCOUNT"). Each Variable Sub-Account invests exclusively in the
Class IB shares of one of the following mutual fund portfolios ("FUNDS") of
Putnam Variable Trust:
<TABLE>
<S> <C>
Putnam VT American Government Income Fund Putnam VT International Growth and Income Fund
Putnam VT Asia Pacific Growth Fund Putnam VT International New Opportunities Fund
Putnam VT Diversified Income Fund Putnam VT Investors Fund
Putnam VT The George Putnam Fund of Boston Putnam VT Money Market Fund
Putnam VT Global Asset Allocation Fund Putnam VT New Opportunities Fund
Putnam VT Global Growth Fund Putnam VT New Value Fund
Putnam VT Growth and Income Fund Putnam VT OTC & Emerging Growth Fund
Putnam VT Growth Opportunities Fund Putnam VT Research Fund
Putnam VT Health Sciences Fund Putnam VT Small Cap Value Fund
Putnam VT High Yield Fund Putnam VT Utilities Growth and Income Fund
Putnam VT Income Fund Putnam VT Vista Fund
Putnam VT International Growth Fund Putnam VT Voyager Fund
</TABLE>
CHANGE ALL REFERENCES THROUGHOUT THE PROSPECTUS TO THE AVAILABILITY OF "22"
VARIABLE SUB-ACCOUNTS TO "24" VARIABLE SUB-ACCOUNTS, AND "25" INVESTMENT
ALTERNATIVES TO "27" INVESTMENT ALTERNATIVES.
PAGE 8: INSERT THE FOLLOWING TO THE CHART DESCRIBING FUND ANNUAL EXPENSES:
<TABLE>
<CAPTION>
---------------------------------------------------- -------------- ----------------- ---------------- ----------------
Management Other Expenses Total Annual
Fund Fees 12b-1 Fees -------- Fund Expenses
---- ---- ---------- -------------
<S> <C> <C> <C> <C>
Putnam VT American Government Income Fund(4) .41% .15% .49% 1.05%
Putnam VT Growth Opportunities Fund(4) .70% .15% .20% 1.05%
---------------------------------------------------- -------------- ----------------- ---------------- ----------------
</TABLE>
PAGE 8: INSERT ", PUTNAM VT GROWTH OPPORTUNITIES FUND AND PUTNAM VT AMERICAN
GOVERNMENT INCOME FUND" TO THE PARENTHETICAL IN THE FIRST SENTENCE OF FOOTNOTE
(1) TO THE CHART DESCRIBING FUND ANNUAL EXPENSES.
<PAGE>
PAGE 8: APPEND THE FOLLOWING TO THE END OF FOOTNOTE (1):
See the Fund's prospectus for more information about 12b-1 fees payable under
the Fund's distribution plan.
PAGE 8: INSERT THE FOLLOWING AFTER FOOTNOTE (3) TO THE CHART DESCRIBING FUND
ANNUAL EXPENSES:
(4) Putnam VT American Government Income Fund and Putnam VT Growth
Opportunities Fund commenced operations on JANUARY 31, 2000; therefore,
the management fees, 12b-1 fees, other expenses and total annual fund
expenses are based on estimates for the funds' first fiscal year. Absent
voluntary reductions and reimbursements, the estimated management fees,
12b-1 fees, other expenses, and total annual fund expenses for the Putnam VT
American Government Income Fund expressed as a percentage of average net
assets of the fund would have been as follows:
<TABLE>
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Putnam VT American Government Income Fund .65% .15% .49% 1.29%
-----------------------------------------------------------------------------------------------------
</TABLE>
PAGE 9: INSERT THE FOLLOWING TO EXAMPLE 1:
<TABLE>
<CAPTION>
Sub-Account 1 Year 3 Years
----------- ------ -------
<S> <C> <C>
Putnam VT American Government Income $87 $127
Putnam VT Growth Opportunities $87 $127
</TABLE>
PAGE 10: INSERT THE FOLLOWING TO EXAMPLE 2:
<TABLE>
<CAPTION>
Sub-Account 1 Year 3 Years
----------- ------ -------
<S> <C> <C>
Putnam VT American Government Income $27 $84
Putnam VT Growth Opportunities $27 $84
</TABLE>
PAGE 11: REPLACE THE THIRD PARAGRAPH UNDER FINANCIAL INFORMATION WITH THE
FOLLOWING:
The combined statutory basis financial statements of Allstate as of and
for the periods ended December 31, 1998, and unaudited financial
statements for Allstate as of and for the period ended September 30,
1999, appear in the Statement of Additional Information. Unaudited
financial statements for the Variable Account as of and for the period
ended December 31, 1999 appear in the Statement of Additional Information.
PAGE 15: INSERT THE FOLLOWING TO THE TABLE DESCRIBING THE INVESTMENT OBJECTIVE
OF EACH FUND:
<TABLE>
<CAPTION>
-------------------------------------------------- ---------------------------------------------------------
FUND: EACH FUND SEEKS:
-------------------------------------------------- ---------------------------------------------------------
<S> <C>
Putnam VT American Government Income Fund High current income with preservation of capital as a
secondary objective
-------------------------------------------------- ---------------------------------------------------------
Putnam VT Growth Opportunities Fund Capital appreciation
-------------------------------------------------- ---------------------------------------------------------
</TABLE>
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
SUPPLEMENT, DATED FEBRUARY 1, 2000, TO THE
PUTNAM ALLSTATE ADVISOR-A VARIABLE ANNUITY PROSPECTUS
DATED OCTOBER 25, 1999
This supplement amends the above-referenced prospectus for the Putnam Allstate
Advisor - A Variable Annuity Contract (the "Contract"), offered by Allstate Life
Insurance Company, to add two new Variable Sub-Accounts. Please keep this
supplement for future reference together with your prospectus.
COVER PAGE: REPLACE THE SECOND PARAGRAPH WITH THE FOLLOWING:
The Contract currently offers 27 investment alternatives ("INVESTMENT
ALTERNATIVES"). The investment alternatives include 3 fixed account options
("FIXED ACCOUNT OPTIONS") and 24 variable sub-accounts ("VARIABLE
SUB-ACCOUNTS") of the Allstate Life Insurance Company Separate Account A
("VARIABLE ACCOUNT"). Each Variable Sub-Account invests exclusively in the
Class IB shares of one of the following mutual fund portfolios ("FUNDS") of
Putnam Variable Trust:
<TABLE>
<S> <C>
Putnam VT American Government Income Fund Putnam VT International Growth and Income Fund
Putnam VT Asia Pacific Growth Fund Putnam VT International New Opportunities Fund
Putnam VT Diversified Income Fund Putnam VT Investors Fund
Putnam VT The George Putnam Fund of Boston Putnam VT Money Market Fund
Putnam VT Global Asset Allocation Fund Putnam VT New Opportunities Fund
Putnam VT Global Growth Fund Putnam VT New Value Fund
Putnam VT Growth and Income Fund Putnam VT OTC & Emerging Growth Fund
Putnam VT Growth Opportunities Fund Putnam VT Research Fund
Putnam VT Health Sciences Fund Putnam VT Small Cap Value Fund
Putnam VT High Yield Fund Putnam VT Utilities Growth and Income Fund
Putnam VT Income Fund Putnam VT Vista Fund
Putnam VT International Growth Fund Putnam VT Voyager Fund
</TABLE>
CHANGE ALL REFERENCES THROUGHOUT THE PROSPECTUS TO THE AVAILABILITY OF "22"
VARIABLE SUB-ACCOUNTS TO "24" VARIABLE SUB-ACCOUNTS, AND "25" INVESTMENT
ALTERNATIVES TO "27" INVESTMENT ALTERNATIVES.
PAGE 8: INSERT THE FOLLOWING TO THE CHART DESCRIBING FUND ANNUAL EXPENSES:
<TABLE>
<CAPTION>
---------------------------------------------------- -------------- ----------------- ---------------- ----------------
Management Other Expenses Total Annual
Fund Fees 12b-1 Fees -------- Fund Expenses
---- ---- ---------- -------------
<S> <C> <C> <C> <C>
Putnam VT American Government Income Fund(4) .41% .15% .49% 1.05%
Putnam VT Growth Opportunities Fund(4) .70% .15% .20% 1.05%
---------------------------------------------------- -------------- ----------------- ---------------- ----------------
</TABLE>
PAGE 8: INSERT ", PUTNAM VT GROWTH OPPORTUNITIES FUND AND PUTNAM VT AMERICAN
GOVERNMENT INCOME FUND" TO THE PARENTHETICAL IN THE FIRST SENTENCE OF FOOTNOTE
(1) TO THE CHART DESCRIBING FUND ANNUAL EXPENSES.
<PAGE>
PAGE 8: APPEND THE FOLLOWING TO THE END OF FOOTNOTE (1):
See the Fund's prospectus for more information about 12b-1 fees payable under
the Fund's distribution plan.
PAGE 8: INSERT THE FOLLOWING AFTER FOOTNOTE (3) TO THE CHART DESCRIBING FUND
ANNUAL EXPENSES:
(4) Putnam VT American Government Income Fund and Putnam VT Growth
Opportunities Fund commenced operations on January 31, 2000; therefore,
the management fees, 12b-1 fees, other expenses and total annual fund
expenses are based on estimates for the funds' first fiscal year. Absent
voluntary reductions and reimbursements, the estimated management fees,
12b-1 fees, other expenses, and total annual fund expenses for the Putnam VT
American Government Income Fund expressed as a percentage of average net
assets of the fund would have been as follows:
<TABLE>
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Putnam VT American Government Income Fund .65% .15% .49% 1.29%
-----------------------------------------------------------------------------------------------------
</TABLE>
PAGE 9: INSERT THE FOLLOWING TO THE EXAMPLE:
<TABLE>
<CAPTION>
Sub-Account 1 Year 3 Years
----------- ------ -------
<S> <C> <C>
Putnam VT American Government Income $80 $127
Putnam VT Growth Opportunities $80 $127
</TABLE>
PAGE 10: REPLACE THE SECOND SENTENCE OF THE SECOND PARAGRAPH UNDER FINANCIAL
INFORMATION WITH THE FOLLOWING:
Accordingly, there are no Accumulation Unit Values included for the
Contracts.
PAGE 10: REPLACE THE SECOND SENTENCE OF THE THIRD PARAGRAPH UNDER FINANCIAL
INFORMATION WITH THE FOLLOWING:
Unaudited financial statements for the Variable Account as of and for the
period ended December 31, 1999 appear in the Statement of Additional
Information.
PAGE 10: REPLACE THE FOURTH PARAGRAPH UNDER FINANCIAL INFORMATION WITH THE
FOLLOWING:
The combined statutory basis financial statements of Allstate as of and
for the periods ended December 31, 1998, and unaudited financial
statements for Allstate as of and for the period ended September 30, 1999,
appear in the Statement of Additional Information.
PAGE 14: INSERT THE FOLLOWING TO THE TABLE DESCRIBING THE INVESTMENT OBJECTIVE
OF EACH FUND:
<TABLE>
<CAPTION>
-------------------------------------------------- ---------------------------------------------------------
FUND: EACH FUND SEEKS:
-------------------------------------------------- ---------------------------------------------------------
<S> <C>
Putnam VT American Government Income Fund High current income with preservation of capital as a
secondary objective
-------------------------------------------------- ---------------------------------------------------------
Putnam VT Growth Opportunities Fund Capital appreciation
-------------------------------------------------- ---------------------------------------------------------
</TABLE>
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
SUPPLEMENT, DATED FEBRUARY 1, 2000, TO
PUTNAM ALLSTATE ADVISOR VARIABLE ANNUITY
PUTNAM ALLSTATE ADVISOR - A VARIABLE ANNUITY
STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 25, 1999
This supplement amends certain disclosure contained in the above-referenced
Statement of Additional Information ("SAI") for the Putnam Allstate Advisor and
Putnam Allstate Advisor - A Variable Annuity Contracts (the "Contracts") offered
by Allstate Life Insurance Company ("Allstate"), to add two new Variable
Sub-Accounts.
PAGE 4: APPEND THE FOLLOWING TO THE FOURTH PARAGRAPH UNDER STANDARDIZED TOTAL
RETURNS:
No standardized total returns are shown for Putnam VT American Government
Income and Putnam VT Growth Opportunities Variable Sub-Accounts, which had
not commenced operations as of FEBRUARY 1, 2000.
PAGE 8: APPEND THE FOLLOWING TO THE SIXTH PARAGRAPH UNDER NON-STANDARDIZED TOTAL
RETURNS:
No non-standardized total returns are shown for Putnam VT American
Government Income and Putnam VT Growth Opportunities Variable Sub-Accounts,
which had not commenced operations as of FEBRUARY 1, 2000.
PAGE 12: APPEND THE FOLLOWING TO THE SECOND PARAGRAPH UNDER ADJUSTED HISTORICAL
RETURNS:
No adjusted historical total returns are shown for Putnam VT American
Government Income and Putnam VT Growth Opportunities Variable Sub-Accounts
as the Funds in which they invest commenced operations as of JANUARY 31,
2000.
PAGE 23: REPLACE THE SENTENCE UNDER THE HEADING "EXPERTS" WITH THE FOLLOWING:
The combined statutory basis financial statements of Allstate as of and for
the periods ended December 31, 1998 that appear in this Statement of
Additional Information have been audited by Deloitte & Touche LLP,
independent auditors, as stated in their reports appearing herein, and are
included in reliance upon the reports of such firm given upon their
authority as experts in accounting and auditing.
PAGE 23: REPLACE THE SECTION ENTITLED "COMBINED STATUTORY BASIS FINANCIAL
STATEMENTS" WITH THE FOLLOWING:
FINANCIAL STATEMENTS
The combined statutory basis financial statements of Allstate as of and
for the periods ended December 31,1998 and the accompanying Reports of
Independent Auditors appear on the pages that follow. The financial
statements of the Variable Account as of and for the period ended
December 31, 1999 and Allstate as of and for the period ended
September 30, 1999 also appear on the pages that follow and are unaudited.
The financial statements of Allstate included herein should be
considered only as bearing upon the ability of Allstate to meet its
obligations under the Contracts.
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
COMBINED STATEMENTS OF FINANCIAL POSITION
(STATUTORY BASIS)
<TABLE>
<CAPTION>
SEPTEMBER 30, DECEMBER 31,
------------------------------------------
($ in thousands) 1999 1998
------------------- -------------------
(UNAUDITED)
<S> <C> <C>
ASSETS
Cash and invested assets
Bonds (fair value $25,682,321 and $25,480,639) $25,091,243 $23,359,823
Preferred stocks (alternative carrying value
$258,160 and $325,954) 258,161 294,478
Common stocks (cost $305,388 and $232,780) 507,880 428,034
Mortgage loans on real estate 3,673,234 3,316,586
Real estate 23,754 25,196
Policy loans 595,269 570,001
Cash 63,768 90,715
Short-term investments 541,935 420,013
Other invested assets 156,504 232,855
----------- -----------
Cash and invested assets 30,911,748 28,737,701
Investment income due and accrued 379,955 342,535
Life and accident and health insurance
premiums due and deferred 106,396 129,692
Other assets 76,412 69,655
Assets related to Separate Accounts 12,722,167 10,877,884
----------- -----------
Total assets $44,196,678 $40,157,467
=========== ===========
LIABILITIES
Policy benefit and other insurance reserves $28,017,364 $26,073,039
Interest maintenance reserve 113,624 116,821
Federal income taxes due or accrued 55,460 30,813
Payable to parent and affiliates 40,233 64,045
Other liabilities and accrued expenses 263,011 162,900
Asset valuation reserve 410,366 374,475
Allocation of assets to the Separate Accounts 57,798 32,164
Liabilities related to Separate Accounts 12,722,167 10,877,884
----------- -----------
Total liabilities 41,680,023 37,732,141
----------- -----------
CAPITAL AND SURPLUS
Preferred capital stock 178,049 174,999
Capital paid up (common stock, $214 par value,
22,700 shares authorized,
issued and outstanding in 1999 and 1998, respectively) 4,858 4,858
Gross paid in and contributed capital 556,526 556,526
Unassigned surplus 1,777,222 1,688,943
----------- -----------
Total capital and surplus 2,516,655 2,425,326
----------- -----------
Total liabilities, capital and surplus $44,196,678 $40,157,467
=========== ===========
</TABLE>
See notes to combined financial statements (statutory basis).
1
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
COMBINED STATEMENTS OF OPERATIONS
(STATUTORY BASIS)
<TABLE>
<CAPTION>
($ in thousands) 3 MONTHS ENDED 9 MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
------------------------------------------------------------------------
1999 1998 1999 1998
-------------- ---------------- ---------------- --------------
(UNAUDITED) (UNAUDITED)
<S> <C> <C> <C> <C>
REVENUES
Premiums and annuity considerations $ 2,285,098 $1,464,581 $5,907,418 $4,392,409
Net investment income, including amortization of the
Interest maintenance reserve of $8,767,$16,427,$60,279
and $61,879 543,406 523,910 1,669,948 1,585,187
Income from fees associated with Separate Accounts 38,484 35,752 109,347 87,502
Other income 54,776 28,063 139,075 81,073
----------- ----------- ----------- -----------
2,921,764 2,052,306 7,825,788 6,146,171
----------- ----------- ----------- -----------
POLICY BENEFITS AND EXPENSES
Provision for policy benefits 1,762,473 953,984 4,968,866 3,035,689
Commissions and general insurance expenses 274,939 234,367 740,016 675,598
Insurance taxes, licenses and fees 15,878 21,097 62,148 54,688
Net transfers to Separate Accounts 493,790 392,206 871,694 1,133,448
Maturities and other scheduled payments 330,865 364,931 931,985 929,530
----------- ----------- ----------- -----------
2,877,945 1,966,585 7,574,709 5,828,953
----------- ----------- ----------- -----------
Net gain from operations before dividends to policyholders,
Federal income taxes and net realized capital gains 43,819 85,721 251,079 317,218
Dividends to policyholders 35 39 138 123
----------- ----------- ----------- -----------
Net gains from operations after dividends to
policyholders and before federal income taxes and net
realized Capital gains 43,784 85,682 250,941 317,095
Federal income taxes 31,984 29,987 80,576 98,586
----------- ----------- ----------- -----------
Net gain from operations after dividends to policyholders
and federal income taxes and net realized capital
gains 11,800 55,695 170,365 218,509
Net realized capital gains less federal income taxes
and amounts transferred to the interest maintenance
reserve 7,929 44,319 87,698 134,322
----------- ----------- ----------- -----------
Net income $ 19,729 $ 100,014 $ 258,063 $ 352,831
=========== =========== =========== ===========
</TABLE>
See notes to combined financial statements (statutory basis).
2
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
COMBINED STATEMENTS OF CASH FLOWS
(STATUTORY BASIS)
<TABLE>
<CAPTION>
9 MONTHS ENDED SEPTEMBER 30,
---------------------------------------------
($ in thousands) 1999 1998
--------------------- --------------------
(UNAUDITED)
<S> <C> <C>
CASH FROM OPERATIONS
Premiums and annuity considerations $4,722,641 $2,258,288
Annuity and other fund deposits 1,101,239 2,077,359
Investment income received 1,466,538 1,387,799
Other premiums, considerations and deposits 110,402 69,586
Income from fees associated with Separate Accounts 109,347 87,502
Allowances and reserve adjustments received
on reinsurance ceded 125,692 (45,780)
Other income received 19,572 7,003
Life and accident and health claims,
surrender benefits and other benefits paid (3,960,885) (3,523,425)
Commissions, other expenses and taxes paid
(excluding federal income taxes) (813,995) (638,253)
Net transfers to Separate Accounts (854,957) (1,128,175)
Dividends paid to policyholders (145) (144)
Federal income taxes paid (excluding tax on capital gains) (52,612) (66,519)
----------- -----------
Net cash from operations 1,972,837 485,241
----------- -----------
CAH FROM INVESTMENTS
Proceeds from investments sold, matured or repaid,
net of tax 8,966,326 7,405,716
Cost of long-term investments acquired (10,817,272) (7,684,460)
Net increase in policy loans (25,268) (32,279)
----------- -----------
Net cash from (used for) investments (1,876,214) (311,023)
----------- -----------
CASH FROM FINANCING AND MISCELLANEOUS SOURCES
Surplus paid in (21,950) 521
Dividends to stockholders (52,067) (55,018)
Borrowed Money 82,735 78,251
Other (10,366) 21,072
----------- -----------
Net cash from (used for) financing and
miscellaneous sources (1,648) 44,826
----------- -----------
Net change in cash and short-term investments 94,975 219,044
Cash and short-term investments at beginning of year 510,728 167,238
----------- -----------
Cash and short-term investments at end of year $ 605,703 $ 386,282
=========== ===========
</TABLE>
See notes to combined financial statements (statutory basis).
3
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
NOTES TO COMBINED FINANCIAL STATEMENTS
(STATUTORY BASIS)
NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
($ IN THOUSANDS)
1. GENERAL
BASIS OF PRESENTATION
The accompanying combined statutory basis financial statements include
the accounts of Allstate Life Insurance Company ("ALIC") and its wholly
owned U.S. domiciled life, accident and health insurance subsidiaries,
Northbrook Life Insurance Company ("NLIC"), Lincoln Benefit Life Company
("LBL"), Surety Life Insurance Company ("SLIC"), Glenbrook Life and Annuity
Company ("GLAC"), and Allstate Life Insurance Company of New York ("ALNY"),
Charter Life Insurance Company ("CLIC") and Intramerica Life Insurance
Compamy (ILIC"), (collectively the "Company"). ALIC is wholly owned by
Allstate Insurance Company ("AIC"), a wholly owned subsidiary of The
Allstate Corporation (the "Corporation").
To conform with the 1999 presentation, certain amounts in the prior
year's financial statements have been reclassified.
NATURE OF OPERATIONS
The consolidated financial statements and notes as of September 30,
1999 and for the three month and nine month period ended September 30, 1999
and 1998 are unaudited. The consolidated financial statements reflect all
adjustments (consisting only of normal recurring accruals) which are, in
the opinion of management, necessary for the fair presentation of the
Financial position, results of operations and cash flows for the interim
periods. The results of operations for the interim periods should not be
considered indicative of results to be expected for the full year.
4
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1999 AND FOR THE PERIOD ENDED
DECEMBER 31, 1999
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENT OF NET ASSETS
DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
ASSETS
<S> <C>
Allocation to Sub-Accounts investing in the Putnam Variable Trust:
Asia Pacific Growth, 278,466 shares (cost $3,789,956) $ 4,803,532
Diversified Income, 1,514,137 shares (cost $14,764,040) 15,005,098
The George Putnam Fund of Boston, 2,907,045 shares (cost $30,051,532) 29,012,305
Global Asset Allocation, 142,637 shares (cost $2,627,571) 2,795,686
Global Growth, 559,039 shares (cost $12,776,277) 17,000,389
Growth and Income, 4,691,832 shares (cost $128,157,309) 125,506,496
Health Sciences, 1,349,491 shares (cost $13,570,021) 14,156,162
High Yield, 818,296 shares (cost $8,868,651) 9,066,725
Income, 982,477 shares (cost $12,309,231) 12,290,785
International Growth, 1,234,900 shares (cost $21,528,251) 26,698,544
International Growth and Income, 470,967 shares (cost $6,838,545) 7,168,122
International New Opportunities, 409,062 shares (cost $7,108,499) 9,522,959
Investors, 5,495,714 shares (cost $71,619,605) 83,150,151
Money Market, 16,872,573 shares (cost $16,872,573) 16,872,573
New Opportunities, 1,114,500 shares (cost $36,579,176) 48,413,875
New Value, 566,900 shares (cost $6,938,279) 6,717,771
OTC & Emerging Growth, 765,986 shares (cost $12,690,974) 17,433,843
Research, 1,540,836 shares (cost $20,578,935) 22,604,065
Small Cap Value, 594,274 shares (cost $5,970,846) 6,121,017
Utilities Growth and Income, 435,290 shares (cost $7,511,540) 7,378,168
Vista, 701,266 shares (cost $12,342,960) 14,481,152
Voyager, 1,683,119 shares (cost $86,527,295) 111,271,035
Total Assets 607,470,454
LIABILITIES
Payable to Allstate Life Insurance Company
Accrued contract maintenance charges 68,839
----------------
Net Assets $ 607,401,615
================
</TABLE>
See notes to financial statements
2
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
--------------------------------------------------------------------------------------------
The George
Asia Putnam Fund Global
Pacific Diversified of Asset Global
Growth Income Boston Allocation Growth
----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME
Dividends $ - $ - $ 603,870 $ 289 $ -
Charges from Allstate Life
Insurance Company:
Mortality and expense risk (8,332) (42,429) (88,415) (7,001) (39,047)
Administrative expense - - - - -
----------------- ----------------- ----------------- ----------------- -----------------
Net investment income (loss) (8,332) (42,429) 515,455 (6,712) (39,047)
REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS
Realized gains (losses) from sales
of investments:
Proceeds from sales 19,811 36,175 156,014 7,214 109,185
Cost of investments sold 18,686 35,881 156,846 7,217 101,580
----------------- ----------------- ----------------- ----------------- -----------------
Net realized gains (losses) 1,125 294 (832) (3) 7,605
----------------- ----------------- ----------------- ----------------- -----------------
Change in unrealized gains (losses) 1,013,576 241,058 (1,039,227) 168,116 4,224,112
----------------- ----------------- ----------------- ----------------- -----------------
Net gains (losses) on
investments 1,014,701 241,352 (1,040,059) 168,113 4,231,717
----------------- ----------------- ----------------- ----------------- -----------------
CHANGE IN NET ASSETS
RESULTING FROM OPERATIONS $1,006,369 $ 198,923 $ (524,604) $ 161,401 $4,192,670
================= ================= ================= ================= =================
</TABLE>
See notes to financial statements.
3
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
---------------------------------------------------------------------------------------------
Growth & Health High International
Income Sciences Yield Income Growth
------------------ ------------------ ------------------ ------------------ ------------------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME
Dividends $ - $ 4,849 $ - $ - $ -
Charges from Allstate Life
Insurance Company:
Mortality and expense risk (398,152) (38,903) (25,156) (35,910) (60,294)
Administrative expense - - - - -
------------------ ------------------ ------------------ ------------------ ------------------
Net investment income (loss) (398,152) (34,054) (25,156) (35,910) (60,294)
REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS
Realized gains (losses) from sales
of investments:
Proceeds from sales 78,513 120,049 736,350 181,921 193,345
Cost of investments sold 126,369 122,899 727,602 182,722 182,340
------------------ ------------------ ------------------ ------------------ ------------------
Net realized gains (losses) (47,856) (2,850) 8,748 (801) 11,005
------------------ ------------------ ------------------ ------------------ ------------------
Change in unrealized gains (losses) (2,650,813) 586,141 198,074 (18,445) 5,170,293
------------------ ------------------ ------------------ ------------------ ------------------
Net gains (losses)
on investments (2,698,669) 583,291 206,822 (19,246) 5,181,298
------------------ ------------------ ------------------ ------------------ ------------------
CHANGE IN NET ASSETS
RESULTING FROM OPERATIONS $ (3,096,821) $ 549,237 $ 181,666 $ (55,156) $5,121,004
================== =================== ================= =================== =================
<CAPTION>
</TABLE>
See notes to financial statements.
4
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
----------------------------------------------------------------------------------------------
International International
Growth and New Money New
Income Opportunities Investors Market Opportunities
------------------ ------------------ ------------------ ------------------ ------------------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME
Dividends $ - $ - $ - $ 153,816 $ -
Charges from Allstate Life
Insurance Company:
Mortality and expense risk (19,894) (17,878) (217,860) (47,820) (108,364)
Administrative expense - - - - -
------------------ ------------------ ------------------ ------------------ ------------------
Net investment income (loss) (19,894) (17,878) (217,860) 105,996 (108,364)
REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS
Realized gains (losses) from sales
of investments:
Proceeds from sales 463,154 373,826 129,574 3,625,107 20,054
Cost of investments sold 442,666 346,771 118,977 3,625,107 18,865
------------------ ------------------ ------------------ ------------------ ------------------
Net realized gains (losses) 20,488 27,055 10,597 - 1,189
------------------ ------------------ ------------------ ------------------ ------------------
Change in unrealized gains (losses) 329,577 2,414,460 11,530,546 - 11,834,699
------------------ ------------------ ------------------ ------------------ ------------------
Net gains (losses)
on investments 350,065 2,441,515 11,541,143 - 11,835,888
------------------ ------------------ ------------------ ------------------ ------------------
CHANGE IN NET ASSETS
RESULTING FROM OPERATIONS $ 330,171 $2,423,637 $11,323,283 $ 105,996 $11,727,524
================== =================== ================= =================== =================
</TABLE>
See notes to financial statements.
5
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
----------------------------------------------------------------------------------------------
OTC & Utilities
New Emerging Small Growth and
Value Growth Research Cap Value Income
------------------ ------------------ ------------------------------------ ------------------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME
Dividends $ - $ 36,702 $ 504,319 $ 17,808 $ -
Charges from Allstate Life
Insurance Company:
Mortality and expense risk (23,561) (30,805) (60,946) (17,840) (21,930)
Administrative expense - - - - -
------------------ ------------------ ------------------------------------ ------------------
Net investment income (loss) (23,561) 5,897 443,373 (32) (21,930)
REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS
Realized gains (losses) from sales
of investments:
Proceeds from sales 511,204 244,974 104,735 343,642 57,562
Cost of investments sold 537,223 192,485 104,647 357,046 58,296
------------------ ------------------ ------------------------------------ ------------------
Net realized gains (losses) (26,019) 52,489 88 (13,404) (734)
------------------ ------------------ ------------------------------------ ------------------
Change in unrealized gains (losses) (220,508) 4,742,868 2,025,131 150,171 (133,372)
------------------ ------------------ ------------------------------------ ------------------
Net gains (losses)
on investments (246,527) 4,795,357 2,025,219 136,767 (134,106)
------------------ ------------------ ------------------------------------ ------------------
CHANGE IN NET ASSETS
RESULTING FROM OPERATIONS $ (270,088) $4,801,254 $2,468,592 $ 136,735 $ (156,036)
================== =================== ================= =================== =================
</TABLE>
See notes to financial statements.
6
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
---------------------------------------------
Vista Voyager
------------------ ------------------
<S> <C> <C>
INVESTMENT INCOME
Dividends $ 930,830 $ -
Charges from Allstate Life Insurance Company:
Mortality and expense risk (33,727) (273,748)
Administrative expense - -
------------------ ------------------
Net investment income (loss) 897,103 (273,748)
REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS
Realized gains (losses) from sales of investments:
Proceeds from sales 96,344 5,467
Cost of investments sold 89,711 7,862
------------------ ------------------
Net realized gains (losses) 6,633 (2,395)
------------------ ------------------
Change in unrealized gains (losses) 2,138,192 24,743,740
------------------ ------------------
Net gains (losses) on investments 2,144,825 24,741,345
------------------ ------------------
CHANGE IN NET ASSETS
RESULTING FROM OPERATIONS $3,041,928 $24,467,597
================== ==================
</TABLE>
See notes to financial statements.
7
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
--------------------------------------------------------------------------------------------
The George
Asia Putnam Fund Global
Pacific Diversified of Asset Global
Growth Income Boston Allocation Growth
----------------- ------------------ ------------------- ---------------- ------------------
<S> <C> <C> <C> <C> <C>
FROM OPERATIONS
Net investment income (loss) $ (8,332) $ (42,429) $ 515,455 $ (6,712) $ (39,047)
Net realized gains (losses) 1,125 294 (832) (3) 7,605
Change in unrealized gains (losses) 1,013,576 241,058 (1,039,227) 168,116 4,224,112
----------------- ------------------ ------------------- ---------------- ------------------
Change in net assets resulting
from operations 1,006,369 198,923 (524,604) 161,401 4,192,670
----------------- ------------------ ------------------- --------------- ------------------
FROM CAPITAL TRANSACTIONS
Deposits 2,747,456 5,717,042 12,891,820 1,240,444 6,205,016
Benefit payments - (3,417) - - (378)
Payments on termination (11,734) (161,343) (304,746) (11,684) (63,561)
Contract maintenance charges (544) (1,700) (3,288) (317) (1,926)
Transfers among the sub-accounts
and with the Fixed Account - net 1,061,441 9,253,893 16,949,835 1,405,526 6,666,642
----------------- ------------------ ------------------- ---------------- ------------------
Change in net assets resulting
from capital transactions 3,796,619 14,804,475 29,533,621 2,633,969 12,805,793
----------------- ------------------ ------------------- ---------------- ------------------
INCREASE (DECREASE) IN NET ASSETS 4,802,988 15,003,398 29,009,017 2,795,370 16,998,463
NET ASSETS AT BEGINNING OF PERIOD - - - - -
----------------- ------------------ ------------------- ---------------- ------------------
NET ASSETS AT END OF PERIOD $ 4,802,988 $ 15,003,398 $ 29,009,017 $ 2,795,370 $ 16,998,463
================= ================== =================== ================ =================
</TABLE>
See notes to financial statements.
8
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
---------------------------------------------------------------------------------------------
Growth & Health High International
Income Sciences Yield Income Growth
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
FROM OPERATIONS
Net investment income (loss) $ (398,152) $ (34,054) $(25,156) $(35,910) $(60,294)
Net realized gains (losses) (47,856) (2,850) 8,748 (801) 11,005
Change in unrealized gains (losses) (2,650,813) 586,141 198,074 (18,445) 5,170,293
------------- ------------- ------------- ------------- -------------
Change in net assets resulting
from operations (3,096,821) 549,237 181,666 (55,156) 5,121,004
------------- ------------- ------------- ------------- -------------
FROM CAPITAL TRANSACTIONS
Deposits 66,564,874 6,876,229 4,841,415 4,349,939 11,178,109
Benefit payments (37,062) (15,210) - - -
Payments on termination (1,216,975) (92,242) (104,534) (95,887) (121,259)
Contract maintenance charges (14,223) (1,604) (1,027) (1,393) (3,025)
Transfers among the sub-accounts
and with the Fixed Account - net 63,292,481 6,838,148 4,148,178 8,091,890 10,520,690
------------- ------------- ------------- ------------- -------------
Change in net assets resulting
from capital transactions 128,589,095 13,605,321 8,884,032 12,344,549 21,574,515
------------- ------------- ------------- ------------- -------------
INCREASE (DECREASE) IN NET ASSETS 125,492,274 14,154,558 9,065,698 12,289,393 26,695,519
NET ASSETS AT BEGINNING OF PERIOD - - - - -
------------- ------------- ------------- ------------- -------------
NET ASSETS AT END OF PERIOD $125,492,274 $14,154,558 $9,065,698 $ 12,289,393 $26,695,519
=============== ============== ============ =============== ============
</TABLE>
See notes to financial statements.
9
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
---------------------------------------------------------------------------------------------
International International
Growth and New Money New
Income Opportunities Investors Market Opportunities
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
FROM OPERATIONS
Net investment income (loss) $ (19,894) $ (17,878) $ (217,860) $ 105,996 $ (108,364)
Net realized gains (losses) 20,488 27,055 10,597 - 1,189
Change in unrealized gains (losses) 329,577 2,414,460 11,530,546 - 11,834,699
----------- ----------- ----------- ----------- -----------
Change in net assets resulting
from operations 330,171 2,423,637 11,323,283 105,996 11,727,524
----------- ----------- ----------- ----------- -----------
FROM CAPITAL TRANSACTIONS
Deposits 3,618,618 3,838,306 36,262,504 10,542,789 21,115,643
Benefit payments - - (30,501) (670,189) (23,210)
Payments on termination (46,787) (23,171) (582,482) (551,414) (181,269)
Contract maintenance charges (812) (1,079) (9,423) (1,912) (5,486)
Transfers among the sub-accounts
and with the Fixed Account - net 3,266,120 3,284,187 36,177,347 7,445,391 15,775,186
----------- ----------- ----------- ----------- -----------
Change in net assets resulting
from capital transactions 6,837,139 7,098,243 71,817,445 16,764,665 36,680,864
----------- ----------- ----------- ----------- -----------
INCREASE (DECREASE) IN NET ASSETS 7,167,310 9,521,880 83,140,728 16,870,661 48,408,388
NET ASSETS AT BEGINNING OF PERIOD - - - - -
----------- ----------- ----------- ----------- -----------
NET ASSETS AT END OF PERIOD $7,167,310 $9,521,880 $83,140,728 $16,870,661 $48,408,388
=============== ============== ============ =============== ============
</TABLE>
See notes to financial statements.
10
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
-------------------------------------------------------------------------------------
OTC & Utilities
New Emerging Small Growth and
Value Growth Research Cap Value Income
----------- ----------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
FROM OPERATIONS
Net investment income (loss) $ (23,561) $ 5,897 $ 443,373 $ (32) $(21,930)
Net realized gains (losses) (26,019) 52,489 88 (13,404) (734)
Change in unrealized gains (losses) (220,508) 4,742,868 2,025,131 150,171 (133,372)
----------- ----------- ---------- ---------- ----------
Change in net assets resulting
from operations (270,088) 4,801,254 2,468,592 136,735 (156,036)
----------- ----------- ---------- ---------- ----------
FROM CAPITAL TRANSACTIONS
Deposits 4,631,791 7,611,399 10,121,156 3,738,103 3,637,575
Benefit payments - - (19,019) - (1,534)
Payments on termination (71,977) (58,463) (144,741) (41,066) (64,952)
Contract maintenance charges (761) (1,975) (2,562) (694) (836)
Transfers among the sub-accounts
and with the Fixed Account - net 2,428,045 5,079,652 10,178,077 2,287,245 3,963,115
----------- ----------- ---------- ---------- ----------
Change in net assets resulting
from capital transactions 6,987,098 12,630,613 20,132,911 5,983,588 7,533,368
----------- ----------- ---------- ---------- ----------
INCREASE (DECREASE) IN NET ASSETS 6,717,010 17,431,867 22,601,503 6,120,323 7,377,332
NET ASSETS AT BEGINNING OF PERIOD - - - - -
----------- ----------- ---------- ---------- ----------
NET ASSETS AT END OF PERIOD $6,717,010 $17,431,867 $22,601,503 $6,120,323 $7,377,332
=========== ============ ============ ============ ==========
</TABLE>
See notes to financial statements.
11
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE PERIOD BEGINNING MAY 3, 1999 AND ENDED DECEMBER 31, 1999
- --------------------------------------------------------------------------------
(unaudited)
<TABLE>
<CAPTION>
Putnam Variable Trust Sub-Accounts
---------------------------------------------
Vista Voyager
----------------- --------------------
<S> <C> <C>
FROM OPERATIONS
Net investment income (loss) $ 897,103 $ (273,748)
Net realized gains (losses) 6,633 (2,395)
Change in unrealized gains (losses) 2,138,192 24,743,740
----------------- --------------------
Change in net assets resulting from operations 3,041,928 24,467,597
----------------- --------------------
FROM CAPITAL TRANSACTIONS
Deposits 6,530,416 47,654,070
Benefit payments (3,766) (28,233)
Payments on termination (72,861) (760,755)
Contract maintenance charges (1,641) (12,609)
Transfers among the sub-accounts
and with the Fixed Account - net 4,985,435 39,938,356
----------------- --------------------
Change in net assets resulting
from capital transactions 11,437,583 86,790,829
----------------- --------------------
INCREASE (DECREASE) IN NET ASSETS 14,479,511 111,258,426
NET ASSETS AT BEGINNING OF PERIOD - -
----------------- --------------------
NET ASSETS AT END OF PERIOD $14,479,511 $ 111,258,426
================= =====================
</TABLE>
See notes to financial statements.
12
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
- --------------------------------------------------------------------------------
1. ORGANIZATION
Allstate Life Insurance Company Separate Account A (the "Account"), a unit
investment trust registered with the Securities and Exchange Commission
under the Investment Company Act of 1940, is a Separate Account of
Allstate Life Insurance Company ("Allstate"). The assets of the Account
are legally segregated from those of Allstate. Allstate is a wholly owned
subsidiary of Allstate Insurance Company, which is wholly owned by The
Allstate Corporation.
Allstate issues the Putnam Allstate Advisor ("Advisor") and Putnam
Allstate Advisor A ("Advisor A") contracts, the deposits of which are
invested at the direction of contractholders in sub-accounts that comprise
the Account. Absent any guarantees wherein Allstate contractually
guarantees either a minimum return or account value to the beneficiaries
of the contractholders in the form of a death benefit, the contractholders
bear the investment risk that the sub-accounts may not meet their stated
objectives. The sub-accounts invest in the Putnam Variable Trust (the
"Fund").
Allstate provides insurance and administrative services to the
contractholders for a fee. Allstate also maintains a Fixed Account, to
which contractholders may direct their deposits and receive a fixed rate
of return. Allstate has sole discretion to invest the assets of the Fixed
Account.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
VALUATION OF INVESTMENTS - Investments consist of shares of the Fund and
are stated at fair value based on quoted market prices at December 31,
1999.
INVESTMENT INCOME - Investment income consists of dividends declared by
the Fund and is recognized on the ex-dividend date.
REALIZED GAINS AND LOSSES - Realized gains and losses represent the
difference between the proceeds from sales of portfolio shares by the
Account and the cost of such shares, which is determined on a weighted
average basis.
FEDERAL INCOME TAXES - The Account intends to qualify as a segregated
asset account as defined in the Internal Revenue Code ("Code"). As such,
the operations of the Account are included with and taxed as a part of
Allstate. Allstate is taxed as a life insurance company under the Code. No
federal income taxes are allocable to the Account as the Account did not
generate taxable income.
USE OF ESTIMATES - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect the amounts reported in the
financial statements and accompanying notes. Actual results could differ
from those estimates.
13
<PAGE>
3. EXPENSES
CONTRACT MAINTENANCE CHARGE - Allstate deducts from the contractholder's
account an annual maintenance charge of $30 on each Advisor contract
anniversary and guarantees that this charge will not increase over the
life of the contract. This charge will be waived if certain conditions are
met. There is no contract maintenance charge on the Advisor A contract.
MORTALITY AND EXPENSE RISK CHARGE - Allstate assumes mortality and expense
risks related to the operations of the Account and deducts charges from
the contractholder's account daily based on the average daily net assets
of the Account. The mortality and expense risk charge covers insurance
benefits available with the contract and certain expenses of the contract.
It also covers the risk that the current charges will not be sufficient in
the future to cover the cost of administering the contract. Allstate
guarantees that the amount of this charge will not increase over the life
of the contract. At the contractholder's discretion, additional options,
primarily death benefits, may be purchased for an additional charge.
RETIREMENT INCOME GUARANTEE CHARGE - Allstate deducts from the
contractholder's account a separate charge for each Retirement Income
Guarantee Rider. The charge will range from 0.05% to 0.15% annually for
Retirement Income Guarantee Rider 1 and 0.30% to 0.50% annually for
Retirement Income Guarantee Rider 2.
SALES CHARGE - Allstate may deduct a sales charge on all purchase payments
of the Advisor A. The charge, which varies inversely in relation to the
purchase payment, ranges from 5.75% to 0.50% of the purchase payment. A
sales charge may be reduced if the contractholder meets certain
requirements.
4. FINANCIAL INSTRUMENTS
The investments of the Account are carried at fair value, based upon
quoted market prices. Accrued contract maintenance charges are of a
short-term nature. It is assumed that their carrying value approximates
fair value.
14
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
Notes to Financial Statements
(unaudited)
5. UNITS OUTSTANDING AND ACCUMULATION UNIT VALUE
(Units in whole amounts)
<TABLE>
<CAPTION>
Putnam Allstate Advisor with
Putnam Allstate Advisor Enhanced Beneficiary Protection
-------------------------------------- ----------------------------------
Accumulation Accumulation
Units Outstanding Unit Value Units Outstanding Unit Value
December 31, 1999 December 31, 1999 December 31, 1999 December 31, 1999
------------------ ----------------- ----------------- -----------------
Investments in the Putnam Variable Trust Sub-Accounts:
<S> <C> <C> <C> <C>
Asia Pacific Growth 241,341 17.44 32,678 17.42
Diversified Income 1,112,113 9.87 408,577 9.86
The George Putnam Fund of Boston 2,629,405 9.30 487,965 9.29
Global Asset Allocation 216,789 10.70 44,565 10.69
Global Growth 809,571 15.66 274,617 15.65
Growth and Income 0,446,547 9.17 3,225,308 9.16
Health Sciences 1,037,948 10.60 293,891 10.59
High Yield 688,505 9.93 223,608 9.92
Income 994,313 9.71 271,083 9.70
International Growth 1,416,491 14.43 429,465 14.41
International Growth and Income 515,493 10.97 136,651 10.96
International New Opportunities 389,045 18.13 133,941 18.12
Investors 5,517,617 12.17 1,309,524 12.16
Money Market 1,261,646 10.23 386,731 10.22
New Opportunities 2,351,890 15.69 730,176 15.68
New Value 626,816 8.80 137,044 8.79
OTC & Emerging Growth 697,007 19.84 181,669 19.82
Research 1,575,893 11.60 369,070 11.59
Small Cap Value 451,498 10.30 140,296 10.29
Utilities Growth and Income 585,124 9.99 153,652 9.98
Vista 824,655 14.09 202,009 14.07
Voyager 6,006,888 14.33 1,752,111 14.31
</TABLE>
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
Notes to Financial Statements
(unaudited)
5. UNITS OUTSTANDING AND ACCUMULATION UNIT VALUE
(Units in whole amounts)
<TABLE>
<CAPTION>
Putnam Allstate Advisor - A with
Putnam Allstate Advisor - A Enhanced Beneficiary Protection
-------------------------------------- ----------------------------------
Accumulation Accumulation
Units Outstanding Unit Value Units Outstanding Unit Value
December 31, 1999 December 31, 1999 December 31, 1999 December 31, 1999
----------------- ----------------- ----------------- -----------------
Investments in the Putnam Variable Trust Sub-Accounts:
<S> <C> <C> <C> <C>
Asia Pacific Growth 1,911 13.36 - -
Diversified Income 409 10.19 - -
The George Putnam Fund of Boston 2,578 9.78 - -
Global Asset Allocation - - - -
Global Growth 1,404 13.56 - -
Growth and Income 11,859 9.69 - -
Health Sciences 4,191 10.63 - -
High Yield 691 10.38 - -
Income - - - -
International Growth 5,441 12.86 1,229 9.68
International Growth and Income 1,515 10.58 - -
International New Opportunities 2,773 14.53 - -
Investors 7,389 11.61 - -
Money Market 938 10.07 - -
New Opportunities 4,104 13.47 - -
New Value 312 15.16 - -
OTC & Emerging Growth - - - -
Research 3,616 11.06 808 11.06
Small Cap Value 2,352 10.78 - -
Utilities Growth and Income 106 9.61 - -
Vista 1,448 13.01 - -
Voyager 9,326 12.95 694 12.95
</TABLE>
<PAGE>
PART C
OTHER INFORMATION
PART C IS HEREBY AMENDED TO INCLUDE THE FOLLOWING EXHIBITS:
ITEM 24(B) EXHIBITS:
(9) Opinion of Michael J. Velotta, Vice President, Secretary and
General Counsel of Allstate Life Insurance Company
(10)(a) Independent Auditors' Consent
(10)(b) Consent of Freedman, Levy, Kroll & Simonds
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, Registrant, Allstate Life Insurance Company Separate Account A, certifies
that it meets the requirements of Securities Act Rule 485(b) for effectiveness
of this amended Registration Statement and has caused this amended Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, and its seal to be hereunto affixed and attested, all in the
Township of Northfield, State of Illinois, on the 1st day of February, 2000.
ALLSTATE LIFE INSURANCE COMPANY SEPARATE ACCOUNT A
(REGISTRANT)
BY: ALLSTATE LIFE INSURANCE COMPANY
(DEPOSITOR)
/s/ Michael J. Velotta
(SEAL) By: ----------------------------------------
Michael J. Velotta
Senior Vice President, Secretary and
General Counsel
As required by the Securities Act of 1933, this amended Registration Statement
has been duly signed below by the following Directors and Officers of Allstate
Life Insurance Company on the 1st day of February, 2000.
*/LOUIS G. LOWER, II Chairman of the Board and Director
- -------------------- (Principal Executive Officer)
Louis G. Lower, II
*/THOMAS J. WILSON, II President and Director
- ---------------------- (Principal Operating Officer)
Thomas J. Wilson, II
/s/ Michael J. Velotta Senior Vice President, Secretary,
- ----------------------- General Counsel and Director
Michael J. Velotta
*/KEVIN R. SLAWIN Senior Vice President and Director
- ------------------ (Principal Financial Officer)
Kevin R. Slawin
*/SAMUEL J. PILCH Controller
- ---------------------- (Principal Accounting Officer)
Samuel H. Pilch
*/CASEY J. SYLLA Chief Investment Officer and Director
- ---------------------
Casey J. Sylla
*/MARLA G. FRIEDMAN Senior Vice President and Director
- ---------------------
Marla G. Friedman
*/JOHN C. LOUNDS Senior Vice President and Director
- ---------------------
John C. Lounds
*/ By Michael J. Velotta, pursuant to Powers of Attorney previously filed.
<PAGE>
EXHIBIT INDEX
EXHIBIT DESCRIPTION
9(b) Opinion and Consent of General Counsel
10(a) Independent Auditor's Consent
10(b) Consent of Freedman, Levy, Kroll & Simonds
<PAGE>
ALLSTATE LIFE INSURANCE COMPANY
LAW AND REGULATION DEPARTMENT
3100 Sanders Road, J5B
Northbrook, Illinois 60062
Direct Dial Number 847-402-2400
Facsimile 847-402-4371
Michael J. Velotta
Senior Vice President, Secretary
and General Counsel
February 1, 2000
TO: ALLSTATE LIFE INSURANCE COMPANY
NORTHBROOK, ILLINOIS 60062
FROM: MICHAEL J. VELOTTA
SENIOR VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL
RE: FORM N-4 REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933 AND
THE INVESTMENT COMPANY ACT OF 1940
FILE NOS. 333-72017, 811-09227
With reference to the above-mentioned amended Registration Statement on
Form N-4 ("Registration Statement") filed by Allstate Life Insurance Company
(the "Company"), as depositor, and Allstate Life Insurance Company Separate
Account A, as registrant, with the Securities and Exchange Commission covering
the Flexible Premium Deferred Variable Annuity Contracts described therein, I
have examined such documents and such law as I have considered necessary and
appropriate, and on the basis of such examination, it is my opinion that as of
February 1, 2000:
1. The Company is duly organized and existing under the laws of the
State of Illinois and has been duly authorized to do business by the
Director of Insurance of the State Illinios.
2. The securities registered by the Registration Statement when issued
will be valid, legal and binding obligations of the Company.
I hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of my name under the caption "Legal
Matters" in the Prospectuses constituting a part of the Registration Statement.
Sincerely,
/s/ Michael J. Velotta
Michael J. Velotta
Senior Vice President, Secretary and
General Counsel
<PAGE>
INDEPENDENT AUDITORS' CONSENT
We consent to the use in this Post-Effective Amendment No. 3 to Registration
Statement No. 333-72017 of Allstate Life Insurance Company Separate Account A
of Allstate Life Insurance Company on Form N-4 of our report dated April 2,
1999 relating to the combined statutory basis financial statements of
Allstate Life Insurance Company, appearing in the Statement of Additional
Information (which is incorporated by reference in the Prospectuses of
Allstate Life of Insurance Company Separate Account A of Allstate Life
Insurance Company), which are part of such Registration Statement, and to the
reference to us under the heading "Experts" in such Statement of Additional
Information.
/s/ Deloitte & Touche
Chicago Illinois
February 1, 2000
<PAGE>
Freedman, Levy, Kroll & Simonds
CONSENT OF
FREEDMAN, LEVY, KROLL & SIMONDS
We hereby consent to the reference to our firm under the caption "Legal
Matters" in the prospectuses contained in Post-Effective Amendment No. 3 to the
Form N-4 Registration Statement of Allstate Life Insurance Company Separate
Account A (File No. 333-72017).
/s/ Freedman, Levy, Kroll & Simonds
Washington, D.C.
January 27, 2000
