UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: JUNE 30, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: PACIFIC LIFE INSURANCE COMPANY
Address: 700 Newport Center Drive
Newport Beach, CA 92660
13F File Number: 28-351
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Yves Pinkowitz
Title: VP, Securities Administration
Phone: 949-219-5093
Signature, Place, and Date of Signing
Yves Pinkowitz Newport Beach August 16, 1999
Report Type (Check only one.):
[X] 13F Holdings Report.
[ ] 13F Notice.
[ ] 13F Combination Report.
List of Other Managers Reporting for this Manager:
None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total:91
Form 13F Information Table Value Total:$379,418
List of Other Included Managers:
None
<PAGE>
PACIFIC LIFE INSURANCE COMPANY
SEC REPORT 13-F
AS OF : 06/30/1999
<TABLE>
NAME OF ISSUER CLASS CUSIP FAIR MKT SHARES OR SH/ INVEST VOTING
VALUE PRINCIPAL PRN DISCRETION AUTHORITY
$(000) AMOUNT
<S> <C> <C> <C> <S> <C>
BOYD GAMING CORP COM 103304101 350 50000 SH SOLE 50000
CHANCELLOR MEDIA CORP CONV PFD $50 PAR PFD 158915306 1536.25 10000 SH SOLE 0
CHEVRON CORP COM 166751107 1028.29 10817 SH SOLE 10817
CITIZENS UTILITIES CO CONV PFD$50 PAR PFD 177351202 272.3 5600 SH SOLE 0
CORNERSTONE PROPANE PARTNERS LP COM 218916104 39562.66 2244690 SH SOLE 2244690
EL PASO ENER CAP TRUST CONV PFD $50 PAR PFD 283678209 990 20000 SH SOLE 0
FLEXI INTERNATIONAL SOFTWARE INC COM 338923105 34.92 25396 SH SOLE 25396
GENEVA STEEL WTS 144A COM 372252122 0 169800 SH SOLE 169800
HOLLINGER INTL INC COM 435569108 273.13 23000 SH SOLE 23000
KMART FINANCING CONV PFD $50 PAR PFD 498778208 585 10000 SH SOLE 0
LEAR CORP COM 521865105 902.96 18150 SH SOLE 18150
LIFE RE CAP TRUST II CONV PFD $66 PAR PFD 532163300 43307.95 567720 SH SOLE 0
NATL AUSTRALIA BANK LTD CONV PFD $25PAR PFD 632525309 1822.5 60000 SH SOLE 0
OWENS ILLINOIS INC CONV PFD $50PAR PFD 690768502 1760 40000 SH SOLE 0
SEAGRAM CO LTD CONV PFD $50PAR PFD 811850205 991.25 20000 SH SOLE 0
SPRINT CONV PFD $31.88 PAR PFD 852061407 1740 20000 SH SOLE 0
STATION CASINOS INC COM 857689103 326 16000 SH SOLE 16000
SUIZA FOODS CORP COM 865077101 7304.72 174441.13 SH SOLE 174441.13
TESORO PETROLEUM CORP CONV PFD $15PAR PFD 881609408 1260 80000 SH SOLE 0
TIMET CAP TR CONV PFD W/RR 144A $50 PAR PFD 887381200 251.25 10000 SH SOLE 0
U S RESTAURANT PROPERTIES MASTER LP UNIT COM 902971100 36861.55 1734661 SH SOLE 1734661
WESTPAC BANKING (STRYPES)CONV PFD$31.35 PFD 929229102 382.02 11800 SH SOLE 0
WENDYS FIN I SER A CONV PFD $50PAR PFD 950588202 605 10000 SH SOLE 0
AES CORP CONV JR SUB NT DEB 00130HAN5 1243.75 1000000 PRN SOLE 0
AMERICAN TELEPHONE & TEL COM 001957109 259.84 4655.5 SH SOLE 4655.5
AT&T CORP - LIBERTY MEDIA COM 001957208 1171.08 31866 SH SOLE 31866
ADAPTEC INC CONV SUB NT 144A DEB 00651FAA6 474.38 500000 PRN SOLE 0
ADAPTEC INC CONV SUB NT DEB 00651FAC2 1660.31 1750000 PRN SOLE 0
ADELPHIA COMM SERIES D CONV PFD $200 PAR PFD 006848402 971.25 5000 SH SOLE 0
AIRTOUCH COMM CONV PFD CL C $50 PAR PFD 00949T308 1713.18 11600 SH SOLE 0
ALLIED CAPITAL CORP COM 01903Q108 1008.82 42034 SH SOLE 42034
ALZA CORP CONV SUB DEB DEB 022615AD0 2765 2000000 PRN SOLE 0
AMERICAN GEN CONV PFD MIPS $50 PAR PFD 02637G200 2851.75 30500 SH SOLE 0
APACHE CORPORATION CONV PFD $31PAR PFD 037411600 1110 30000 SH SOLE 0
ARGOSY GAMING CONV SUB NT DEB 040228AB4 2040 2000000 PRN SOLE 0
AT HOME CONV SUB NT PUT 12/28/03 144A DEB 045919AA5 797.5 1000000 PRN SOLE 0
AUTOMATIC DATA PROCESSING CONVPT 2/20/02 DEB 053015AC7 2247.5 2000000 PRN SOLE 0
AVIRON CONV SUB NT DEB 053762AC4 500 500000 PRN SOLE 0
BEA SYSTEMS INC CONV SUB NT 144A DEB 073325AA0 558.75 500000 PRN SOLE 0
CKE RESTAURANTS INC CONV SUB NT DEB 12561EAB1 2272.5 3000000 PRN SOLE 0
CNF TRUST I SER A CONV PFD $50 PAR PFD 12612V205 1713.75 30000 SH SOLE 0
CAPSTAR HOTEL CORP CONV SUB NT DEB 140918AC7 2677.5 3500000 PRN SOLE 0
CENTOCOR INC CONV SUB NT DEB 152342AE1 1116.25 1000000 PRN SOLE 0
CHIQUITA BRANDS CONV SUB DEB DEB 170032AH9 1258 1360000 PRN SOLE 0
CITRIX SYS INC CONV DEB PT 3/22/04 144A DEB 177376AA8 900 2000000 PRN SOLE 0
CONEXANT SYSTEMS INC CONV SUB NT 144A DEB 207142AA8 709.38 500000 PRN SOLE 0
COSTCO COS INC CONV SUB NT PT 8/19/02 DEB 22160QAC6 17931.25 19000000 PRN SOLE 0
CYMER INC CONV SUB DEB STEP UP 144A DEB 232572AA5 1299.38 1500000 PRN SOLE 0
DIAMOND OFFSHORE DRILL CONV SUB NT DEB 25271CAA0 2456.25 2500000 PRN SOLE 0
DOUBLECLICK INC CONV SUB NT 144A DEB 258609AA4 512.5 500000 PRN SOLE 0
FINANCIAL SECURITY ASSURANCE HLDG LTD COM 31769P100 1278.73 24591 SH SOLE 24591
FINOVA FINANCE TR CONV PFD $50 PAR PFD 31808E207 696.88 10000 SH SOLE 0
GENZYME CORP CONV SUB NT 144A DEB 372917AE4 1402.5 1000000 PRN SOLE 0
HEALTHSOUTH CORP CONV SUB DEB DEB 421924AF8 418.13 500000 PRN SOLE 0
HILTON HOTELS CORP CONV SUB NT DEB 432848AL3 2268.75 2500000 PRN SOLE 0
HOME DEPOT INC CONV SUB NT DEB 437076AE2 39042.5 14000000 PRN SOLE 0
HUANENG POWER INTL PLC CONV PT 5/21/02 DEB 443304AA8 12577.5 13000000 PRN SOLE 0
INTERIM SERVICES INC CONV SUB NT DEB 45868PAA8 2770.63 3250000 PRN SOLE 0
INTERPUBLIC GROUP COS CONV SUB 144A DEB 460690AD2 3600 3000000 PRN SOLE 0
INTERPUBLIC GROUP CO INC CONV SUB NT144A DEB 460690AG5 1350 1500000 PRN SOLE 0
MCN ENERGY GROUP INC COM 55267J100 273.9 13200 SH SOLE 13200
MAGNA INTL INC CONV SUB DEB 144A DEB 559222AF1 489.38 500000 PRN SOLE 0
MAGNA INTL INC CONV SUB DEB DEB 559222AG9 1957.5 2000000 PRN SOLE 0
MASCOTECH INC CONV SUB DEB DEB 574670AB1 4075 5000000 PRN SOLE 0
MEDITRUST CONV DEB REIT DEB 58501TAC2 2660 2800000 PRN SOLE 0
MIDAMERICAN ENERGY HLDGS CO COM 59562V107 1158.41 33456 SH SOLE 33456
MINDSPRING ENTERPRISES CONV SUB NT DEB 602683AA2 946.25 1000000 PRN SOLE 0
NETWORK ASSOC INC CNV SUB PT2/13/03 144A DEB 640938AA4 728.13 2500000 PRN SOLE 0
OMNICOM GRP CONV SUB DEB PT01/03/03 DEB 681919AC0 2530 1000000 PRN SOLE 0
POTOMAC ELECTRIC POWER CO CONV DEB DEB 737679BT6 8384.63 8700000 PRN SOLE 0
PREMIER FARNELL CONV PFD $1.35$25 PAR PFD 74050U206 370 20000 SH SOLE 0
PRIDE INTL CONV SUB ZERO CPN PT4/24/03 DEB 741932AB3 308.75 1000000 PRN SOLE 0
PRISON REALTY CORP COM 74264N105 42924.58 5023346 SH SOLE 0
PSINET INC SERIES C CONV PFD $50 PAR PFD 74437C309 965 20000 SH SOLE 0
ROGERS COMM INC CONV DEB 775109AE1 1552.6 2000000 PRN SOLE 0
SBC COMMUNICATIONS INC CONV PFD(TELEMEX) PFD 78387G202 1380 20000 SH SOLE 0
SAFEGUARD SCIENTIFICS CONV SUB NT 144A DEB 786449AD0 1056.25 1000000 PRN SOLE 0
SEACOR HOLDINGS INC CONV BD SUB NT DEB 811904AE1 497.5 500000 PRN SOLE 0
SEALED AIR CORP CONV PFD SER A $50 PAR PFD 81211K209 2187.5 35000 SH SOLE 0
SEPRACOR INC CONV NT 144A DEB 817315AF1 977.5 1000000 PRN SOLE 0
TELEFONOS DE MEXICO S A CONV DEB 879403AD5 2022.5 2000000 PRN SOLE 0
THERMO ELECTRON CORP SR SUB CONV 144A DEB 883556AF9 2696.25 3000000 PRN SOLE 0
THERMO INSTRUMENT SYS CONV SR DEB 144A DEB 883559AC0 3570 4000000 PRN SOLE 0
THERMO INSTRUMENT SYSTEMS CONV DEB 883559AE6 1226.25 1500000 PRN SOLE 0
THERMOQUEST CORPORATION CONV 144A DEB 883655AA0 2453.13 2500000 PRN SOLE 0
TOTAL RENAL CARE HLDGS CONV SUB NT 144A DEB 89151AAA5 2448.75 3000000 PRN SOLE 0
VALERO ENERGY CORP-NEW COM 91913Y100 304.94 14225 SH SOLE 14225
WMX TECHNOLOGIES CONV PUT2/12/98 DEB 92929QAF4 1085 1000000 PRN SOLE 0
WASTE MANAGEMENT INC COM 94106L109 888.92 16538 SH SOLE 16538
WASTE MGMT INC CONV SUB NT DEB 94106LAA7 1303.75 1000000 PRN SOLE 0
GLOBAL CROSSING LTD COM G3921A100 24222.64 568273 SH SOLE 568273
</TABLE>
