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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- - EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the quarterly period ended June 30, 2002
OR
_ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission file number 333-18053
PRUCO LIFE INSURANCE COMPANY
OF NEW JERSEY
(Exact name of Registrant as specified in its charter)
New Jersey 22-2426091
- ------------------------------------ -------------------------------
(State or other (IRS Employer Identification No.)
jurisdiction, incorporation or organization)
213 Washington Street, Newark, New Jersey 07102
-------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(973) 802-3274
--------------------------------------------
(Registrant's Telephone Number, including area code)
Securities registered pursuant to Section 12 (b) of the Act: NONE
Securities registered pursuant to Section 12 (g) of the Act: NONE
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. YES X NO ___
State the aggregate market value of the voting stock held by
non-affiliates of the registrant: NONE
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of August 14, 2002. Common stock, par
value of $5 per share: 400,000 shares outstanding
Pruco Life Insurance Company of New Jersey meets the conditions set
forth in General Instruction (H) (1) (a) and (b) on Form 10-Q and
is therefore filing this Form with the
reduced disclosure format.
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PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
INDEX TO FINANCIAL STATEMENTS
-----------------------------
Page No.
--------
Cover Page -
Index 2
PART I - Financial Information
------------------------------
Item 1. (Unaudited) Financial Statements
Statements of Financial Position
As of June 30, 2002 and December 31, 2001 3
Statements of Operations and Comprehensive Income
Three and Six months ended June 30, 2002 and 2001 4
Statements of Changes in Stockholder's Equity
Periods ended June 30, 2002 and December 31, 2001 and 2000 5
Statements of Cash Flows
Six months ended June 30, 2002 and 2001 6
Notes to Financial Statements 7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 9
PART II - Other Information
---------------------------
Item 6. Exhibits and Reports on Form 8-K 11
Signature Page 12
Forward-Looking Statement Disclosure
Certain of the statements included in this Quarterly Report on Form 10-Q,
including but not limited to those in the Management's Discussion and Analysis
of Financial Condition and Results of Operations, constitute forward-looking
statements within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Words such as "expects," "believes," "anticipates," "includes,"
"plans," "assumes," "estimates," "projects," or variations of such words are
generally part of forward-looking statements. Forward-looking statements are
made based on management's current expectations and beliefs concerning future
developments and their potential effects upon Pruco Life Insurance Company of
New Jersey ("the Company"). There can be no assurance that future developments
affecting the Company will be those anticipated by management. These
forward-looking statements are not a guarantee of future performance and involve
risks and uncertainties, and there are certain important factors that could
cause actual results to differ, possibly materially, from expectations or
estimates reflected in such forward-looking statements, including without
limitation: general economic, market and political conditions, including the
performance of financial markets, interest rate fluctuations and the continuing
impact of the events of September 11; volatility in the securities markets;
reestimates of our reserves for future policy benefits and claims; our exposure
to contingent liabilities; catastrophe losses; investment losses and defaults;
changes in our claims-paying or credit ratings; competition in our product lines
and for personnel; fluctuations in foreign currency exchange rates and foreign
securities markets; risks to our international operations; the impact of
changing regulation or accounting practices; adverse litigation results; and
changes in tax law. The Company does not intend, and is under no obligation to,
update any particular forward-looking statement included in this document.
2
Pruco Life Insurance Company of New Jersey
Statements of Financial Position (Unaudited)
As of June 30, 2002 and December 31, 2001 (In Thousands)
- --------------------------------------------------------------------------------------------------------------------------
June 30, December 31,
2002 2001
---------- ----------
ASSETS
Fixed maturities:
Available for sale, at fair value (amortized cost, 2002: $530,199; and 2001: $478,996) $ 542,538 $ 490,734
Policy loans 159,308 158,754
Short-term investments 18,896 32,983
Other long-term investments 3,300 2,614
---------- ----------
Total investments 724,042 685,085
Cash and cash equivalents 48,082 58,212
Deferred policy acquisition costs 131,895 118,975
Accrued investment income 11,081 10,399
Receivables from affiliates 16,452 17,270
Other assets 7,257 3,919
Separate Account assets 1,517,948 1,631,113
---------- ----------
TOTAL ASSETS $2,456,757 $2,524,973
========== ==========
LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities
Policyholders' account balances $ 494,680 $ 457,172
Future policy benefits and other policyholder liabilities 121,952 119,400
Cash collateral for loaned securities 35,249 36,092
Securities sold under agreements to repurchase 25,446 18,514
Income taxes payable 37,394 36,012
Other liabilities 13,596 19,298
Separate Account liabilities 1,517,948 1,631,113
---------- ----------
Total liabilities 2,246,265 2,317,601
---------- ----------
Contingencies - (See Footnote 2)
Stockholder's Equity
Common stock, $5 par value;
400,000 shares, authorized;
issued and outstanding at
June 30, 2002 and December 31, 2001 2,000 2,000
Paid-in-capital 128,689 128,689
Retained earnings 75,749 72,959
Accumulated other comprehensive income 4,054 3,724
---------- ----------
Total stockholder's equity 210,492 207,372
---------- ----------
TOTAL LIABILITIES AND
STOCKHOLDER'S EQUITY $2,456,757 $2,524,973
========== ==========
See Notes to Financial Statements
3
Pruco Life Insurance Company of New Jersey
Statements of Operations and Comprehensive Income (Unaudited)
Three and Six Months Ended June 30, 2002 and 2001 (In Thousands)
- ------------------------------------------------------------------------------------------------
Six months ended Three months ended
June 30, June 30,
2002 2001 2002 2001
------- ------- ------- -------
REVENUES
Premiums $ 9,322 $ 7,326 $ 5,239 $ 4,414
Policy charges and fee income 28,564 24,330 15,281 13,682
Net investment income 22,535 27,943 11,356 13,890
Realized investment (losses) gains, net (5,523) 175 (3,391) (805)
Asset management fees 233 299 200 137
Other income 340 210 194 17
------- ------- ------- -------
Total revenues 55,471 60,283 28,879 31,335
------- ------- ------- -------
BENEFITS AND EXPENSES
Policyholders' benefits 15,402 17,164 7,424 9,437
Interest credited to policyholders' account
balances 9,837 10,344 5,036 5,199
General, administrative and other expenses 26,011 19,628 15,665 9,949
------- ------- ------- -------
Total benefits and expenses 51,250 47,136 28,125 24,585
------- ------- ------- -------
Income from operations before income taxes 4,221 13,147 754 6,750
------- ------- ------- -------
Income tax provision 1,431 3,954 452 1,840
------- ------- ------- -------
NET INCOME 2,790 9,193 302 4,910
------- ------- ------- -------
Net unrealized investment gains (losses) on
securities, net of reclassification adjustment 330 2,111 1,826 (1,773)
and taxes
------- ------- ------- -------
TOTAL COMPREHENSIVE INCOME $ 3,120 $11,304 $ 2,128 $ 3,137
======= ======= ======= =======
See Notes to Financial Statements
4
Pruco Life Insurance Company of New Jersey
Statements of Changes in Stockholder's Equity (Unaudited) Periods ended June
30, 2002 and December 31, 2001 and 2000 (In Thousands)
- ----------------------------------------------------------------------------------------------------------
Accumulated
other Total
Common Paid - in - Retained comprehensive stockholder's
stock capital earnings income (loss) equity
----------- ----------- -------- ------------- -------------
Balance, January 1, 2000 $ 2,000 $ 125,000 $ 230,057 $ (6,088) $ 350,969
Net income - - 23,584 - 23,584
Contribution - 3,689 - - 3,689
Change in net unrealized
investment losses, net of
reclassification and taxes - - - 5,325 5,325
-------- --------- --------- --------- ---------
Balance, December 31, 2000 2,000 128,689 253,641 (763) 383,567
Net income - - 15,593 - 15,593
Dividend to Parent - - (186,000) - (186,000)
Policy credits issued to
Eligible policyholders - - (10,275) - (10,275)
Change in net unrealized
investment losses, net
of
reclassification and taxes - - - 4,487 4,487
-------- --------- --------- --------- ---------
Balance, December 31, 2001 2,000 128,689 72,959 3,724 207,372
Net income - - 2,790 - 2,790
Change in net unrealized
investment gains, net of - - - 330 330
reclassification and taxes
-------- --------- --------- --------- ---------
Balance, June 30, 2002 $ 2,000 $ 128,689 $ 75,749 $ 4,054 $ 210,492
======== ========= ========= ========= =========
See Notes to Financial Statements
5
Pruco Life Insurance Company of New Jersey
Statements of Cash Flows (Unaudited)
Six Months Ended June 30, 2002 and 2001 (In Thousands)
- ------------------------------------------------------------------------------------------------------------------------------------
Six months ended,
June 30,
2002 2001
--------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 2,790 $ 9,193
Adjustments to reconcile net income to net cash provided by (used in)
Operating activities:
Policy charges and fee income (5,589) (5,634)
Interest credited to policyholders' account balances 9,837 10,344
Realized investment (gains) losses, net 5,523 (175)
Amortization and other non-cash items (825) (8,173)
Change in:
Future policy benefits and other policyholders'
liabilities 2,552 4,069
Accrued investment income (682) 1,301
Policy loans (554) (3,992)
Receivables from affiliates 818 5,953
Deferred policy acquisition costs (12,920) (1,398)
Income taxes payable 1,382 (2,208)
Other, net 81 17,907
--------- ---------
Cash Flows From Operating Activities 2,413 27,187
--------- ---------
CASH FLOWS USED IN INVESTING ACTIVITIES:
Proceeds from the sale/maturity of:
Fixed maturities available for sale 123,752 420,381
Payments for the purchase of:
Fixed maturities available for sale (179,568) (461,889)
Cash collateral for loaned securities, net (843) 557
Securities sold under agreements to repurchase, net 6,932 4,439
Other long-term investments, net (1,655) 350
Short term investments, net 14,084 23,532
--------- ---------
Cash Flows Used in Investing Activities (37,298) (12,630)
--------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders' account balances:
Deposits 69,699 45,437
Withdrawals (35,823) (35,579)
Cash payments to eligible policyholders (9,121) -
--------- ---------
Cash Flows From Financing Activities 24,755 9,858
--------- ---------
Net (decrease) increase in Cash and cash equivalents (10,130) 24,415
Cash and cash equivalents, beginning of year 58,212 65,237
--------- ---------
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 48,082 $ 89,652
========= =========
See Notes to Financial Statements
6
Pruco Life Insurance Company of New Jersey
Notes to Financial Statements (Unaudited)
- --------------------------------------------------------------------------------
1. BASIS OF PRESENTATION
The accompanying interim financial statements have been prepared pursuant to the
rules and regulations for reporting on Form 10-Q on the basis of accounting
principles generally accepted in the United States. These interim financial
statements are unaudited but reflect all adjustments which, in the opinion of
management, are necessary to provide a fair presentation of the results of
operations and financial condition of the Pruco Life Insurance Company of New
Jersey ("the Company"), for the interim periods presented. The Company is a
wholly owned subsidiary of the Pruco Life Insurance Company ("Pruco Life"),
which in turn is a wholly owned subsidiary of The Prudential Insurance Company
of America ("Prudential"). Prudential is a wholly owned subsidiary of Prudential
Financial, Inc. All such adjustments are of a normal recurring nature. The
results of operations for any interim period are not necessarily indicative of
results for a full year. Certain amounts in the Company's prior year financial
statements have been reclassified to conform to the current year presentation.
These financial statements should be read in conjunction with the financial
statements and notes thereto contained in the Company's Annual Report on Form
10-K for the year ended December 31, 2001.
2. CONTINGENCIES AND LITIGATION
Contingencies
On an ongoing basis, our internal supervisory and control functions review the
quality of our sales, marketing and other customer interface procedures and
practices and may recommend modifications or enhancements. In certain cases, if
appropriate, we may offer customers remediation and may incur charges, including
the cost of such remediation, administrative costs and regulatory fines.
It is possible that the results of operations or the cash flow of the Company in
a particular quarterly or annual period could be materially affected as a result
of payments in connection with the matters discussed above depending, in part,
upon the results of operations or cash flow for such period. Management
believes, however, that the ultimate payments in connection with these matters
should not have a material adverse effect on the Company's financial position.
Litigation
Prudential and the Company are subject to legal and regulatory actions in the
ordinary course of our businesses, including class actions. Pending legal and
regulatory actions include proceedings relating to aspects of our businesses and
operations that are specific to the Company and Prudential and that are typical
of the businesses in which the Company and Prudential operate. Some of these
proceedings have been brought on behalf of various alleged classes of
complainants. In certain of these matters, the plaintiffs are seeking large
and/or indeterminate amounts, including punitive or exemplary damages.
Beginning in 1995, regulatory authorities and customers brought significant
regulatory actions and civil litigation against the Company and Prudential
involving individual life insurance sales practices. In 1996, Prudential, on
behalf of itself and many of its life insurance subsidiaries including the
Company entered into settlement agreements with relevant insurance regulatory
authorities and plaintiffs in the principal life insurance sales practices class
action lawsuit covering policyholders of individual permanent life insurance
policies issued in the United States from 1982 to 1995. Pursuant to the
settlements, the companies agreed to various changes to their sales and business
practices controls, to a series of fines, and to provide specific forms of
relief to eligible class members. Virtually all claims by class members filed in
connection with the settlements have been resolved and virtually all aspects of
the remediation program have been satisfied. While the approval of the class
action settlement is now final, Prudential and the Company remain subject to
oversight and review by insurance regulators and other regulatory authorities
with respect to its sales practices and the conduct of the remediation program.
The U.S. District Court has also retained jurisdiction as to all matters
relating to the administration, consummation, enforcement and interpretation of
the settlements.
As of June 30, 2002, Prudential and/or the Company remained a party to
approximately 40 individual sales practices actions filed by policyholders who
"opted out" of the class action settlement relating to permanent life insurance
policies issued in the United States between 1982 and 1995. In addition, there
were 17 sales practices actions pending that were filed by policyholders who
were members of the class and who failed to "opt out" of the class action
settlement. Prudential and the Company believe that those actions are governed
by the class settlement release and expect them to be enjoined and/or dismissed.
Additional suits may be filed by class members who "opted out" of the class
settlements or who failed to "opt out" but nevertheless seek to proceed against
Prudential and/or the Company. A number of the plaintiffs in these cases seek
large and/or indeterminate amounts, including punitive or exemplary damages.
Some of these actions are brought on behalf of multiple plaintiffs. It is
possible that substantial punitive damages might be awarded in any of these
actions and particularly in an action involving multiple plaintiffs.
Prudential has indemnified the Company for any liabilities incurred in
connection with sales practices litigation covering policyholders of individual
permanent life insurance policies issued in the United States from 1982 to 1995.
The Company's litigation is subject to many uncertainties, and given the
complexity and scope, the outcomes cannot be predicted. It is possible that the
results of operations or the cash flow of the Company in a particular quarterly
or annual period could be materially effected by an ultimate unfavorable
resolution of pending litigation and regulatory matters. Management believes,
however, that the ultimate outcome of all pending litigation and regulatory
matters should not have a material adverse effect on the Company's financial
position.
7
Pruco Life Insurance Company of New Jersey
Notes to Financial Statements (Unaudited)
- --------------------------------------------------------------------------------
3. RELATED PARTY TRANSACTIONS
The Company has extensive transactions and relationships with Prudential and
other affiliates. It is possible that the terms of these transactions are not
the same as those that would result from transactions among wholly unrelated
parties.
Expense Charges and Allocations
All of the Company's expenses are allocations or charges from Prudential or
other affiliates. These expenses can be grouped into the following categories:
general and administrative expenses and retail distribution expenses.
The Company's general and administrative expenses are charged to the Company
using allocation methodologies based on business processes. Management believes
that the methodology is reasonable and reflects costs incurred by Prudential to
process transactions on behalf of the Company. Prudential and the Company
operate under service and lease agreements whereby services of officers and
employees, supplies, use of equipment and office space are provided by
Prudential.
The Company is allocated estimated distribution expenses from Prudential's
retail agency network for both its domestic life and annuity products. The
estimate of allocated distribution expenses is intended to reflect a market
based pricing arrangement.
The Company has capitalized the majority of these distribution expenses as
deferred policy acquisition costs.
Corporate Owned Life Insurance
The Company has sold a Corporate Owned Life Insurance ("COLI") policy to
Prudential. The cash surrender value included in Separate Accounts was $168.9
million and $165.7 million at June 30, 2002 and December 31, 2001, respectively.
Reinsurance
The Company currently has a reinsurance agreement in place with Prudential ("the
reinsurer"). The reinsurance agreement is a yearly renewable term agreement in
which the Company may offer and the reinsurer may accept reinsurance on any life
in excess of the Company's maximum limit of retention. The Company is not
relieved of its primary obligation to the policyholder as a result of these
reinsurance transactions. These agreements had no material effect on net income
for the periods ended June 30, 2002 and 2001.
Debt Agreements
In July 1998, the Company established a revolving line of credit facility with
Prudential Funding LLC, a wholly-owned subsidiary of Prudential. There is no
outstanding debt relating to this credit facility as of June 30, 2002 or
December 31, 2001.
8
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
Pruco Life Insurance Company of New Jersey meets the conditions set forth in
General Instruction H(1)(a) and (b) on Form 10-Q and is filing this form with
reduced disclosure.
1. Analysis of Financial Condition
Total assets of the Company decreased $68.2 million from $2,525.0 million to
$2,456.8 million during the first six months of 2002. Separate Account assets
decreased $113.2 million as a result of market value declines. Partially
offsetting this, was an increase in fixed maturities of $51.8 million from
investing policyholder deposits.
Total liabilities of the Company decreased $71.3 million during the first six
months of 2002 from $2,317.6 million to $2,246.3 million. Corresponding with the
asset change, Separate Account liabilities decreased by $113.2 million resulting
from market value declines. Policyholder Account balances increased $37.5
million mainly from annuity deposits.
2. Results of Operations
Net Income for the six months ended June 30, 2002 and June 30, 2001
- -------------------------------------------------------------------
Net Income
Net income for the six months ended June 30, 2002 was $2.8 million, a decrease
of $6.4 million from the first six months of 2001. The main factors in the
decline in net income are lower realized investment gains and investment income,
and higher amortization of deferred acquisition costs ("DAC"). These declines
were partially offset by higher policy charges and fee income and premiums.
Revenues
Revenues decreased by $4.8 million from the prior year comparable period. The
change in realized investment losses/gains between the two periods decreased
income by $5.7 million. This change resulted primarily from the realization of
losses on sales of fixed maturities in 2002 from credit related sales compared
to gains on sales in the prior year from declining interest rates. Net
investment income is lower by $5.4 million due to lower yields available on
investment in fixed maturities and short-term investments and a lower fixed
maturity balance.
Policy charges and fee income increased by $4.2 million primarily driven by an
increase in charges for assuming mortality and expense risks due to the growth
in the life insurance in-force business. The life insurance in-force business
(excluding term insurance) grew to $7.6 billion at June 30, 2002 from $6.9
billion at both June 30 and December 31, 2001. This was partially offset by a
decrease in annuity policy charges and fees due to decreased fund values as a
result of unfavorable market performance. Premiums increased $2.0 million from
higher term insurance sales and renewals of the Term Essential and Term Elite
products of $5.5 million. This was partially offset by decreased extended term
insurance, which represents term insurance issued under policy provisions to
customers who previously had lapsing variable life insurance with the Company.
Benefits and Expenses
Policyholder benefits are $1.8 million lower than the prior year from decreases
to reserves of $3.2 million partially offset by higher death and surrender
benefits. Reserves are lower as a result of the lower amount of extended term
insurance issued in 2002, partially offset by higher reserves for term
insurance. Interest credited to policyholder account balances decreased by $0.5
million despite growth in policyholder account balances as interest crediting
rates were decreased in reaction to the declining investment portfolio yields.
General, administrative and other expenses increased by $6.4 million from the
prior year comparable period. The decline in our Separate Account assets
resulting from unfavorable market conditions contributed to increased
amortization of DAC of $4.4 million reflecting a decrease in expected future
gross profits. Continued deterioration in market conditions may result in
further increases in the amortization of DAC. Commissions, net of capitalization
also increased due to higher sales and renewals than the prior year.
9
Net Income for the three months ended June 30, 2002 and June 30, 2001
- ---------------------------------------------------------------------
Net income
Net income declined $4.6 million from the prior year comparable quarter. The
majority of this decrease resulted from the increase in DAC amortization of $
5.6 million as a result of unfavorable market conditions.
Revenues
Revenues are lower than the prior year quarter by $2.5 million. Investment
results were $5.1 million lower due to credit related realized losses and lower
investment income from decreased yields on fixed maturities and short-term
investments. Policy charges increased $1.6 million from growth in the life
insurance in-force business. Premiums increased $0.8 million from higher term
insurance offset partially by lower extended term premiums.
Benefits and Expenses
Policyholder benefits are lower by $2.0 million related to reserve decreases for
extended term premiums, partially offset by higher term insurance reserves.
General, administrative, and other expenses increased $5.7 million. The decline
in our Separate Account assets resulting from unfavorable market conditions
contributed to increased amortization of DAC of $5.6 million reflecting a
decrease in expected future gross profits.
3. Liquidity and Capital Resources
Principal cash flow sources are investment and fee income, investment maturities
and sales, and premiums and fund deposits. These cash inflows may be
supplemented by financing activities through other Prudential affiliates.
Cash outflows consist principally of benefits, claims and amounts paid to
policyholders in connection with policy surrenders, withdrawals and net policy
loan activity. Uses of cash also include commissions, general and administrative
expenses, and purchases of investments. Liquidity requirements associated with
policyholder obligations are monitored regularly so that the Company can manage
cash inflows to match anticipated cash outflow requirements.
The Company believes that cash flow from operations together with proceeds from
scheduled maturities and sales of fixed maturity investments, are adequate to
satisfy liquidity requirements based on the Company's current liability
structure.
The Company had $2.5 billion of assets at June 30, 2002 and December 31, 2001,
of which $1.5 billion and $1.6 billion were held in Separate Accounts at June
30, 2002 and December 31, 2001, respectively, under variable life insurance
policies and variable annuity contracts. The remaining assets consisted
primarily of investments and deferred policy acquisition costs.
10
PART II
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Item 6. Exhibits and Reports on Form 8-K
- -----------------------------------------
(a) Exhibits
--------
3(i)(a) The Articles of Incorporation (as amended through March 11,
1983) of Pruco Life Insurance Company of New Jersey are
incorporated by reference to Post-effective Amendment No. 26
to the Registration Statement on Form S-6 of Pruco Life of New
Jersey Variable Appreciable Account as filed April 28, 1997,
Registration No. 2-89780.
3(i)(b) Amendment to the Articles of Incorporation dated February 12,
1998 is incorporated by reference to Post-Effective Amendment
No. 12 to the Registration Statement on Form S-1, of Pruco
Life of New Jersey Variable Contract Real Property Account as
filed on April 16, 1999, Registration No. 33-20018.
3(ii) By-Laws of Pruco Life Insurance Company of New Jersey (as
amended through May 5, 1997) are incorporated by reference to
Form 10-Q as filed by the Company on August 15, 1997.
4(a) Market-Value Adjustment Annuity Contract is incorporated by
reference to the Company's registration statement on Form S-1,
Registration No. 333-18053, as filed November 17, 1995.
4(b) Market-Value Adjustment Annuity Contract is incorporated by
reference to the Company's registration statement on Form S-3,
Registration No. 333-62246, as filed on April 12, 2002.
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
(Registrant)
Signature Title Date
- --------- ----- ----
/s/ Andrew J. Mako Executive Vice President August 14, 2002
- ------------------------------- (Authorized Signatory)
Andrew J. Mako
/s/ William J. Eckert, IV Vice President and August 14, 2002
- ------------------------------- Chief Accounting Officer
William J. Eckert, IV (Principal Accounting Officer)
12