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PL > SEC Filings for PL > Form 8-K/A on 12-Dec-2013All Recent SEC Filings

Show all filings for PROTECTIVE LIFE CORP



Other Events, Financial Statements and Exhibits

Item 8.01. Other Events.

On October 1, 2013, Protective Life Insurance Company ("Protective Life"), a wholly owned subsidiary of Protective Life Corporation ("Protective"), completed the acquisition contemplated by the master agreement (the "Master Agreement") previously reported in our Current Report on Form 8-K dated April 11, 2013. Pursuant to that Master Agreement with AXA Financial, Inc. ("AXA") and AXA Equitable Financial Services, LLC ("AEFS"), Protective Life acquired the stock of MONY Life Insurance Company ("MONY") from AEFS and entered into a reinsurance agreement pursuant to which it is reinsuring on a 100% indemnity reinsurance basis certain business (the "MLOA Business") of MONY Life Insurance Company of America ("MLOA"). The aggregate purchase price for MONY was $686 million, and will be subject to a customary post-closing adjustment. The ceding commission for the reinsurance of the MLOA Business was $370 million.

At the closing of the transaction, Protective Life entered into an administrative services agreement with MLOA, which governs the ongoing administration of the MLOA Business by Protective Life, and a transition services agreement with AXA Equitable Life Insurance Company ("AXA Equitable"), pursuant to which AXA Equitable and its affiliates will make available to Protective Life and its affiliates, for a limited period of time, certain services required for the operation of the business following the closing.

The above description of the Master Agreement and the related agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Master Agreement and the forms of related agreements, copies of which were filed as Exhibit 2(b) to Protective's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 and are incorporated herein by reference.

On October 1, 2013, Protective issued a press release titled "Protective Completes Acquisition of MONY and Reinsurance of Certain Policies of MLOA". A copy of such press release was attached as Exhibit 99.1 to the Original Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements of Business Acquired.

None required to be filed.

(b) Pro Forma Financial Information.

None required to be filed.

(d) Exhibits.

Exhibit No.
    2.1         Master Agreement by and among AXA Equitable Financial Services,
                LLC, AXA Financial, Inc. and Protective Life Insurance Company,
                dated as of April 10, 2013, incorporated by reference to
                Exhibit 2(b) of Protective's Quarterly Report on Form 10-Q for
                the quarter ended June 30, 2013

    99.1        Press Release issued by Protective Life Corporation, dated
                October 1, 2013, incorporated by reference to Exhibit 99.1 of
                Protective's Current Report on Form 8-K dated October 1, 2013

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