SEC Info - Allstate Life Insurance Co of New York

SEC Info℠

Home

Help

Please Sign In

Allstate Life Insurance Co of New York – ‘10-Q’ for 9/30/02

On: Thursday, 11/14/02, at 4:47pm ET · For: 9/30/02 · Accession #: 945094-2-685 · File #: 33-47245

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

11/14/02  Allstate Life Ins Co of New York  10-Q        9/30/02    1:93K                                    Glenbrook Life & Ann… Co

Quarterly Report — Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Alny 3rd Quarter                                      30    171K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Controls and Procedures Exhibits and Reports on Form 8-K Financial Statements Legal Proceedings Regulation and Legal Proceedings
1	1st Page - Filing Submission
2	Item 1. Financial Statements
8	Regulation and Legal Proceedings
26	Item 4. Controls and Procedures
27	Item 1. Legal Proceedings
"	Item 6. Exhibits and Reports on Form 8-K

10-Q 1st Page of 30 TOC ↑Top Previous Next ↓Bottom Just 1st
 
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------------------------------------------------------------------------------  
 FORM 10-Q

Registrant meets the conditions set forth in General Instruction H (1)(a) and   
(b) of Form 10-Q and is therefore filing this Form with the reduced disclosure  
format.                                                                         

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
 THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended September 30, 2002

OR

 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
 THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 333-100029

 Allstate Life Insurance Company of New York
(Exact name of registrant as specified in its charter)

New York                                    36-2608394                
(State of Incorporation)               (I.R.S. Employer  Identification No.)    

One Allstate Drive                                                              
Farmingville, New York                               11738                      
(Address of principal executive offices)           (Zip code)                   

Registrant's telephone number, including are code: 516-451-5300                 

Registrant 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 and (2) has  
been subject to such filing requirements for the past 90 days.                  
Yes /X/          No /  /  

As of October 31, 2002, the Registrant had 100,000 common shares, $25 par value,
outstanding, all of which are held by Allstate Life Insurance Company.          

10-Q 2nd Page of 30 TOC 1st Previous Next ↓Bottom Just 2nd
                                                        [Enlarge/Download Table]

             ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK                                        
               INDEX TO QUARTERLY REPORT ON FORM 10-Q                                           
                         SEPTEMBER 30, 2002                                                     

PART 1.  FINANCIAL INFORMATION                                                                  

                                                                                                
Item 1.  Financial Statements                                                                   

         Condensed Statements of Operations for the Three Month and Nine Month Periods Ended    
         September 30, 2002 and 2001 (unaudited)                                               3

         Condensed Statements of Financial Position as of September 30, 2002 (unaudited) and    
         December 31, 2001                                                                     4

         Condensed Statements of Cash Flows for the Nine Month Periods Ended                    
         September 30, 2002 and 2001 (unaudited)                                               5

         Notes to Condensed Financial Statements (unaudited)                                   6

Item 2.  Management's Discussion and Analysis                                                   
         of Financial Condition and Results of Operations                                     11

Item 4.  Controls and Procedures                                                              26

PART II. OTHER INFORMATION                                                                      

Item 1.  Legal Proceedings                                                                    27

Item 6.  Exhibits and Reports on Form 8-K                                                     27

         Signatures                                                                           28

         Certifications                                                                       28

                                 2                                                              

10-Q 3rd Page of 30 TOC 1st Previous Next ↓Bottom Just 3rd
                                                        [Enlarge/Download Table]

                          PART 1. FINANCIAL INFORMATION                                                              
                     ITEM 1. CONDENSED FINANCIAL STATEMENTS                                                          

                   ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK                                                       
                       CONDENSED STATEMENTS OF OPERATIONS                                                            

                                                              Three Months Ended             Nine Months Ended       
                                                                September 30,                  September 30,         
                                                         -----------------------------  -----------------------------
(in thousands)                                              2002             2001          2002             2001     
                                                         ------------    -------------  ------------     ------------
                                                                 (Unaudited)                    (Unaudited)          
Revenues                                                                                                             
                                                                                                                     
Premiums                                                 $     12,881    $     29,445   $   65,655       $  76,438   
Contract charges                                               12,930          10,150       37,537          30,621   
Net investment income                                          59,188          51,377      170,569         150,072   
Realized capital gains and losses                             (10,231)          2,804      (11,696)            352   
                                                         ------------    ------------   ----------       ---------   
                                                               74,768          93,776      262,065         257,483   
Costs and Expenses                                                                                                   
Contract benefits                                              35,983          53,739      126,483         138,795   
Interest credited to contractholder funds                      23,042          18,965       64,472          53,557   
Amortization of deferred policy acquisition costs              10,517           2,183       17,301           5,968   
Operating costs and expenses                                    7,694           7,113       26,208          22,907   
                                                         ------------    ------------   ----------       ---------   
                                                               77,236          82,000      234,464         221,227   
                                                         ------------    ------------   ----------       ---------   
(Loss) income from operations before income tax                                                                      
   expense and cumulative effect of change in                                                                        
   accounting principle                                        (2,468)         11,776       27,601          36,256   
Income tax (benefit) expense                                   (1,078)          4,128        9,274          12,585   
                                                         ------------    ------------   ----------       ---------   
(Loss) income before cumulative effect of change in                                                                  
   accounting principle                                        (1,390)          7,648       18,327          23,671   
   Cumulative effect of change in accounting for                                                                     
   derivative financial instruments, after-tax                      -               -            -            (147)  
                                                         ------------    -------------  ----------       ---------   
 Net (loss) income                                       $     (1,390)   $       7,648  $   18,327       $  23,524   
                                                         ============    =============  ==========       =========   


See notes to condensed financial statements.

3 

10-Q 4th Page of 30 TOC 1st Previous Next ↓Bottom Just 4th
                                                        [Enlarge/Download Table]


                   ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK                                                       
                   CONDENSED STATEMENTS OF FINANCIAL POSITION                                                        

                                                                                  September 30,       December 31,   
(in thousands, except par value data)                                                 2002                2001       
                                                                                ------------------   ----------------
                                                                                   (Unaudited)                       
                                                                                                                     
Assets                                                                                                               
Investments                                                                                                          
   Fixed income securities, at fair value (amortized cost $3,116,198 and                                             
     $2,678,264)                                                                $       3,507,153    $     2,894,461 
   Mortgage Loans                                                                         290,377            242,727 
   Short-term                                                                             172,889             57,507 
   Policy Loans                                                                            33,233             33,160 
                                                                                -----------------    --------------- 
      Total investments                                                                 4,003,652          3,227,855 

Cash                                                                                       16,109              7,375 
Deferred policy acquisitions costs                                                        163,218            156,615 
Accrued investment income                                                                  39,922             33,601 
Reinsurance recoverables                                                                      880              1,453 
Other assets                                                                               13,390             13,800 
Separate Accounts                                                                         511,227            602,657 
                                                                                -----------------    --------------- 
         Total assets                                                           $       4,748,398    $     4,043,356 
                                                                                =================    =============== 

Liabilities                                                                                                          
Reserve for life-contingent contract benefits                                   $       1,458,046    $     1,303,810 
Contractholder funds                                                                    1,930,745          1,442,119 
Current income taxes payable                                                                7,985              6,049 
Deferred income taxes                                                                      87,309             64,612 
Other liabilities and accrued expenses                                                    232,545            164,399 
Payable to affiliates, net                                                                  2,323                427 
Reinsurance payable to affiliate, net                                                         641                307 
Separate Accounts                                                                         511,227            602,657 
                                                                                -----------------    --------------- 
         Total liabilities                                                              4,230,821          3,584,380 
                                                                                -----------------    --------------- 

Commitments and Contingent Liabilities (Note 3)                                                                      

Shareholder's equity                                                                                                 
Common stock, $25 par value, 100,000 shares authorized, issued and outstanding              2,500              2,500 
Additional capital paid-in                                                                 45,787             45,787 
Retained income                                                                           310,021            291,694 
Accumulated other comprehensive income:                                                                              
   Unrealized net capital gains and losses                                                159,269            118,995 
                                                                                -----------------    --------------- 

         Total accumulated other comprehensive income                                     159,269            118,995 
                                                                                -----------------    --------------- 
         Total shareholder's equity                                                       517,577            458,976 
                                                                                -----------------    --------------- 
         Total liabilities and shareholder's equity                             $       4,748,398    $     4,043,356 
                                                                                =================   ================ 

See notes to condensed financial statements.

4 

10-Q 5th Page of 30 TOC 1st Previous Next ↓Bottom Just 5th
                                                        [Enlarge/Download Table]


                   ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK                                                  
                       CONDENSED STATEMENTS OF CASH FLOWS                                                       

                                                                                       Nine Months Ended        
                                                                                         September 30,          
                                                                                   ---------------------------  
(in thousands)                                                                        2002           2001       
                                                                                   -----------    ------------  
                                                                                          (Unaudited)           
                                                                                                                
Cash flows from operating activities                                                                            
Net income                                                                         $     18,327   $      23,524 
Adjustments to reconcile net income to net cash provided by operating activities:                               
         Amortization and other non-cash items                                          (36,046)        (37,366)
         Realized capital gains and losses                                               11,696            (352)
         Cumulative effect of change in accounting for derivative financial                                     
           instruments                                                                        -             147 
         Interest credited to contractholder funds                                       64,472          53,557 
         Changes in:                                                                                            
           Life-contingent contract benefits and other insurance reserves                31,574          51,594 
           Deferred policy acquisition costs                                            (24,101)        (33,574)
           Income taxes payable                                                           2,947           8,576 
           Other operating assets and liabilities                                        10,372          (4,315)
                                                                                   ------------    ------------ 
              Net cash provided by operating activities                                  79,241          61,791 
                                                                                   ------------    ------------ 

Cash flows from investing activities                                                                            
Proceeds from sales of fixed income securities                                          185,066         183,796 
Investment collections                                                                                          
           Fixed income securities                                                      136,888          64,125 
           Mortgage loans                                                                14,995          13,874 
Investments purchases                                                                                           
           Fixed income securities                                                     (759,169)       (491,585)
           Mortgage loans                                                               (62,276)        (33,879)
Change in short-term investments, net                                                   (38,697)        (16,244)
Change in other investments, net                                                          1,238            (215)
Change in policy loans, net                                                                 (73)         (1,093)
                                                                                   ------------    ------------ 
              Net cash used in investing activities                                    (522,028)       (281,221)
                                                                                   ------------    ------------ 
Cash flows from financing activities                                                                            
Contractholder fund deposits                                                            572,988         362,648 
Contractholder fund withdrawals                                                        (121,467)       (143,749)
                                                                                   ------------    ------------ 
           Net cash provided by financing activities                                    451,521         218,899 
                                                                                   ------------    ------------ 

Net increase (decrease) in cash                                                           8,734            (531)
Cash at beginning of period                                                               7,375           2,162 
                                                                                   ------------    ------------ 
Cash at end of period                                                              $     16,109    $      1,631 
                                                                                   ============    ============ 

See notes to condensed financial statements.

5 

10-Q 6th Page of 30 TOC 1st Previous Next ↓Bottom Just 6th
 ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
 NOTES TO FINANCIAL STATEMENTS
 (UNAUDITED)

1.   Basis of Presentation                                                      

     The accompanying  condensed  financial  statements  include the accounts of
Allstate  Life  Insurance  Company of New York ("the  Company"),  a wholly owned
subsidiary of Allstate Life Insurance Company ("ALIC"), which is wholly owned by
Allstate  Insurance  Company ("AIC"),  a wholly owned subsidiary of The Allstate
Corporation (the "Corporation").                                                

     The condensed financial  statements and notes as of September 30, 2002, and
for the  three-month  and nine-month  periods ended September 30, 2002 and 2001,
are  unaudited.  The  condensed  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.  These  condensed
financial  statements and notes should be read in conjunction with the financial
statements and notes thereto included in the Allstate Life Insurance  Company of
New York Annual  Report on Form 10-K for the year ended  December 31, 2001.  The
results  of  operations  for  the  interim  periods  should  not  be  considered
indicative of results to be expected for the full year.                         

     To conform with the 2002 and year-end 2001  presentations,  certain amounts
in the prior  year's  condensed  financial  statements  have been  reclassified.
Non-cash  transactions  of $256  thousand  have been  excluded from prior period
investment  purchases and collections on the condensed  statements of cash flows
to conform to the current period presentation.                                  

     Non-cash investment exchanges and modifications, which reflect refinancings
of fixed  income  securities,  totaled  $5  million  for the nine  months  ended
September 30, 2002.  There were no exchanges for the nine months ended September
30, 2001.                                                                       

New Accounting Standard                                                         

     In June 2001, the Financial  Accounting  Standards  Board  ("FASB")  issued
Statement of Financial Accounting Standard ("SFAS") No. 142, "Goodwill and other
Intangible Assets",  which eliminates the requirement to amortize goodwill,  and
requires  that  goodwill  and  separately   identified  intangible  assets  with
indefinite  lives be  evaluated  for  impairment  on an  annual  basis  (or more
frequently if impairment  indicators  arise) on a fair value basis.  The Company
adopted SFAS No. 142  effective  January 1, 2002 and as a result,  the Company's
2001  results do not reflect the impact of the  non-amortization  provisions  of
SFAS No. 142. Had the Company adopted the non-amortization provisions on January
1,  2001,  the  impact  would have been  immaterial  to Net income  (unamortized
goodwill was $160 thousand at September 30, 2002).  During the second quarter of
2002, the Company  completed the initial  goodwill  impairment  test required by
SFAS No. 142 and concluded that goodwill was not impaired.  The Company utilized
several widely accepted valuation techniques, including discounted cash flow and
market multiple and trading analyses, to estimate the fair value of its acquired
businesses.                                                                     

Pending Accounting Standard                                                     

     On July 31, 2002, the American  Institute of Certified  Public  Accountants
issued an exposure draft Statement of Position ("SOP") entitled  "Accounting and
Reporting  by Insurance  Enterprises  for Certain  Nontraditional  Long-Duration
Contracts and for Separate  Accounts".  The accounting guidance contained in the
proposed SOP applies to several of the Company's  products and product features.
The proposed  effective date of the SOP is fiscal years beginning after December
15, 2003, with earlier adoption encouraged.  Initial application should be as of
the beginning of the fiscal year; therefore, if adopted during an interim period
of 2003,  prior  interim  periods  should be restated.  Most  provisions  of the
proposed  SOP will  have a  minimal  impact  to the  Company.  With  respect  to
guaranteed  minimum income benefits  (contract features that guarantee a minimum
amount for annuitization), the Company's policy of not recognizing any liability
during the accumulation  phase is consistent with the SOP. However,  a provision
that  requires  the  establishment  of a  liability  in  addition to the account
balance for contracts that contain death or other insurance benefits,  which are
not  currently  recognized  as a liability by the  Company,  may have a material
impact on the condensed statement of operations                                 
6 

10-Q 7th Page of 30 TOC 1st Previous Next ↓Bottom Just 7th
 ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
 NOTES TO FINANCIAL STATEMENTS
 (UNAUDITED)

depending on the market conditions at the time of adoption. Contracts that would
be affected by this provision of the SOP are those that specify that the amounts
assessed against the contractholder each period for the insurance benefit       
feature are not proportionate to the insurance coverage provided for the period.
These contract provisions are commonly referred to as guaranteed minimum death  
benefits.                                                                       

2.   Reinsurance                                                                

     The Company  purchases  reinsurance to limit aggregate and single losses on
large risks.  The Company also cedes a portion of the mortality  risk on certain
term life  policies  with a pool of  reinsurers.  The Company  continues to have
primary liability as the direct insurer for risks reinsured. The Company follows
a  comprehensive  evaluation  process  involving  credit scoring and capacity to
select reinsurers.  Estimating amounts of reinsurance recoverable is impacted by
the  uncertainties  involved  in the  establishment  of  reserves  for  contract
benefits.  Failure of  reinsurers  to honor their  obligations  could  result in
losses to the Company.                                                          

     Amounts  recoverable  from reinsurers are estimated based upon  assumptions
consistent  with  those  used in  establishing  the  liabilities  related to the
underlying reinsured contracts.  The Company has reinsurance agreements with its
parent,  ALIC,  to  reinsure a portion of its  premiums,  contract  charges  and
contract benefits.  No single non-affiliate  reinsurer had a material obligation
to the Company nor is the Company's  business  substantially  dependent upon any
reinsurance  contract.  The  effects of  reinsurance  on Premiums  and  Contract
charges and Contract benefits were as follows:                                  

                                                        [Enlarge/Download Table]


                                               Three Months Ended               Nine Months Ended       
                                                  September 30,                   September 30,         
                                            --------------------------     --------------------------   
(in thousands)                                 2002           2001            2002           2001       
                                            -----------    -----------     -----------    -----------   
                                                                                                        
Premiums and contract charges                                                                           
Direct                                      $      27,860  $      40,872   $     108,965  $     110,620 
Assumed - non-affiliate                                72            149             318            521 
Ceded                                                                                                   
   Affiliate                                       (1,756)        (1,197)         (5,281)        (3,432)
   Non-affiliate                                     (365)          (229)           (810)          (650)
                                            -------------  -------------   -------------  ------------- 
     Premiums and contract charges, net                                                                 
       of reinsurance                       $      25,811  $      39,595   $     103,192  $     107,059 
                                            =============  =============   =============  ============= 

                                               Three Months Ended               Nine Months Ended       
                                                 September 30,                    September 30,         
                                            --------------------------     --------------------------   
(in thousands)                                 2002           2001            2002           2001       
                                            -----------    -----------     -----------    -----------   
Contract benefits                                                                                       
Direct                                      $      36,616  $      53,917   $     128,233  $     139,914 
Assumed - non-affiliate                                 6             52              51             78 
Ceded                                                                                                   
   Affiliate                                         (225)           (47)           (791)          (537)
   Non-affiliate                                     (414)          (183)         (1,010)          (660)
                                            -------------  -------------   -------------  ------------- 
     Contract benefits, net of reinsurance  $      35,983  $      53,739   $     126,483  $     138,795 
                                            =============  =============   =============  ============= 


7 

10-Q 8th Page of 30 TOC 1st Previous Next ↓Bottom Just 8th
 ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
 NOTES TO FINANCIAL STATEMENTS
 (UNAUDITED)

3.   Commitments and Contingent Liabilities                                     

Regulation and Legal Proceedings                                      

     The  Company's  business  is subject to the  effects of a changing  social,
economic and regulatory  environment.  State and federal regulatory  initiatives
have varied and have included employee benefit regulations,  removal of barriers
preventing banks from engaging in the securities and insurance  businesses,  tax
law changes affecting the taxation of insurance companies,  the tax treatment of
insurance  products  and its  impact on the  relative  desirability  of  various
personal  investment  vehicles  and the overall  expansion  of  regulation.  The
ultimate  changes  and  eventual  effects,  if any,  of  these  initiatives  are
uncertain.                                                                      

     The Company sells its products  through a variety of distribution  channels
including Allstate agencies. Consequently, the outcome of some legal proceedings
that  involve AIC  regarding  the  Allstate  agencies  may have an impact on the
Company.                                                                        

     AIC is defending various lawsuits involving worker  classification  issues.
Examples  of  these  lawsuits   include  a  number  of  putative  class  actions
challenging the overtime exemption claimed by AIC under the Fair Labor Standards
Act or state wage and hour laws.  These class actions  mirror  similar  lawsuits
filed  recently  against  other  carriers in the industry  and other  employers.
Another example involves the worker classification of staff working in agencies.
In this  putative  class  action,  plaintiffs  seek  damages  under the Employee
Retirement  Income  Security Act  ("ERISA")  and the  Racketeer  Influenced  and
Corrupt  Organizations  Act alleging that agency  secretaries were terminated as
employees by AIC and rehired by agencies  through outside  staffing  vendors for
the purpose of avoiding the payment of employee benefits.  A putative nationwide
class  action  filed  by  former   employee   agents  also   includes  a  worker
classification  issue;  these agents are challenging  certain  amendments to the
Agents  Pension  Plan  and are  seeking  to  have  exclusive  agent  independent
contractors  treated as employees for benefit purposes.  AIC has been vigorously
defending these and various other worker classification lawsuits. The outcome of
these disputes is currently uncertain.                                          

     In  addition,  on August 6, 2002,  a petition  was filed with the  National
Labor Relations Board ("NLRB") by the United Exclusive  Allstate Agents,  Office
and Professional  Employees  International Union,  seeking  certification as the
collective  bargaining  representative  of all  Allstate  agents  in the  United
States. AIC is opposing the petition on a number of grounds,  including that the
agents are independent  contractors and, therefore,  the NLRB lacks jurisdiction
over the issue. The outcome is currently uncertain.                             

     AIC is also  defending  certain  matters  relating  to its  agency  program
reorganization  announced in 1999. These matters include an investigation by the
U.S.  Department of Labor and a lawsuit filed in December 2001 by the U.S. Equal
Employment  Opportunity  Commission  ("EEOC")  with  respect to  allegations  of
retaliation  under the Age  Discrimination in Employment Act, the Americans with
Disabilities  Act and Title  VII of the Civil  Rights  Act of 1964.  A  putative
nationwide  class action has also been filed by former  employee agents alleging
various violations of ERISA, breach of contract and age discrimination.  AIC has
been vigorously defending these lawsuits and other matters related to its agency
program  reorganization.  In addition, AIC is defending certain matters relating
to its life agency  program  reorganization  announced  in 2000.  These  matters
include  an  investigation  by the  EEOC  with  respect  to  allegations  of age
discrimination  and  retaliation.  AIC is  cooperating  fully  with  the  agency
investigation  and will  continue to  vigorously  defend  these and other claims
related to the life agency program reorganization. The outcome of these disputes
is currently uncertain.                                                         

     The court has approved a settlement, which is not material, in a previously
reported,  statewide  class  action that alleged  that ALIC  violated  insurance
statues in the sale of credit insurance.                                        

8 

10-Q 9th Page of 30 TOC 1st Previous Next ↓Bottom Just 9th
 ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
 NOTES TO FINANCIAL STATEMENTS
 (UNAUDITED)

     Various  other legal and  regulatory  actions are  currently  pending  that
involve AIC and specific aspects of its conduct of business.  Like other members
of the insurance industry,  the Company is the potential target of an increasing
number of class  action  lawsuits and other types of  litigation,  some of which
involve claims for substantial and/or indeterminate  amounts (including punitive
and treble  damages) and the outcomes of which are  unpredictable.  However,  at
this time,  based on their present status,  it is the opinion of management that
the ultimate liability,  if any, in one or more of these other actions in excess
of amounts  currently  reserved is not expected to have a material effect on the
results of operations, liquidity or financial position of the Company.          

4.   Comprehensive Income                                                       

     The  components  of other  comprehensive  income on a pretax and  after-tax
basis are as follows:                                                           

                                                        [Enlarge/Download Table]


                                                                        Three Months Ended September 30,                            
                                          ----------------------------------------------------------------------------------------  
(in thousands)                                                2002                                             2001                 
                                          ----------------------------------------------    --------------------------------------  
                                                                                After-                                   After-     
                                               Pretax           Tax             tax        Pretax            Tax            tax     
                                             -----------    --------------    ----------  ----------    ------------    ----------  
Unrealized capital gains and losses                                                                                                 
 and net gains and losses on                                                                                                        
 derivative financial instruments:                                                                                                  
                                                                                                                                    
Unrealized holding gains arising during                                                                                             
 the period                                  $   37,318     $   (13,061)      $   24,257  $   28,868    $   (10,103)    $  18,765   
Less: reclassification adjustments               (9,783)          3,424           (6,359)      2,564           (897)        1,667   
                                             ----------     -----------       ----------  ----------    -----------     ---------   
Unrealized net capital gains                     47,101         (16,485)          30,616      26,304         (9,206)       17,098   
Net gains on derivative financial                                                                                                   
 instruments arising during the period              450            (157)             293         192            (67)          125   
   Less: reclassification adjustments               450            (157)             293         192            (67)          125   
                                             ----------     -----------       ----------  ----------    -----------     ---------   
Net gains on derivative financial                                                                                                   
 instruments                                          -               -                -           -              -             -   
                                             ----------     -----------       ----------  ----------    -----------     ---------   
Other comprehensive income                   $   47,101     $   (16,485)          30,616  $   26,304    $    (9,206)       17,098   
                                             ==========     ===========                   ==========    ===========                 
Net (loss) income                                                                 (1,390)                                   7,648   
                                                                              ----------                               ----------   

Comprehensive income                                                          $   29,226                               $   24,746   
                                                                              ==========                               ==========   

                                       9                                                                                            

10-Q 10th Page of 30 TOC 1st Previous Next ↓Bottom Just 10th
                   ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK                                                                      
                          NOTES TO FINANCIAL STATEMENTS                                                                             
                                   (UNAUDITED)                                                                                      

                                                                        Nine Months Ended September 30,                             
                                          ----------------------------------------------------------------------------------------  
(in thousands)                                                2002                                             2001                 
                                          ----------------------------------------------    --------------------------------------  
                                                                             After-                                        After-   
                                            Pretax           Tax             tax             Pretax           Tax            tax    
                                          -----------    --------------    ----------       ----------    -----------    -----------
Unrealized capital gains and losses and                                                                                             
 net gains and losses on derivative                                                                                                 
 financial instruments:                                                                                                             

Unrealized holding gains arising during                                                                                             
 the period                               $    51,445    $    (18,006)   $   33,439       $   20,249    $    (7,088)   $    13,161  
Less: reclassification adjustments            (10,515)          3,680        (6,835)            (772)           270           (502) 
                                          -----------    ------------    ----------       ----------    -----------    -----------  
Unrealized net capital gains                   61,960         (21,686)       40,274           21,021         (7,358)        13,663  
Net gains (losses) on derivative                                                                                                    
 financial instruments arising during                                                                                               
 the period                                     1,243             435           808             (200)            70           (130) 
   Less: reclassification adjustments           1,243            (435)          808             (200)            70           (130) 
                                          -----------    ------------    ----------       ----------    -----------    -----------  
Net gains (losses) on derivative                                                                                                    
 financial instruments                              -               -             -                -              -              -  
                                          -----------    ------------    ----------       ----------    -----------    -----------  
Other comprehensive income                $    61,960    $    (21,686)       40,274       $   21,021    $    (7,358)        13,663  
                                          ===========    ============                     ==========    ===========                 

Net income                                                                   18,327                                         23,524  
                                                                         ----------                                    -----------  
Comprehensive income                                                     $   58,601                                    $    37,187  
                                                                         ==========                                    ===========  


10

10-Q 11th Page of 30 TOC 1st Previous Next ↓Bottom Just 11th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

     The following discussion highlights significant factors influencing results
of  operations  and changes in  financial  position of Allstate  Life  Insurance
Company of New York (the  "Company").  It should be read in conjunction with the
condensed  financial  statements  and related  notes thereto found under Part I.
Item 1. contained herein and with the discussion, analysis, financial statements
and notes  thereto  in Part I.  Item 1. and Part II.  Item 7. and Item 8. of the
Allstate Life  Insurance  Company of New York Annual Report on Form 10-K for the
year ended  December 31, 2001,  which  includes a  discussion  of the  Company's
Critical  Accounting  Policies.  To  conform  with the 2002  and  year-end  2001
presentation, certain prior year amounts have been reclassified.                

OVERVIEW                                                                        

     The Company,  a wholly owned subsidiary of Allstate Life Insurance  Company
("ALIC"),  which is a wholly  owned  subsidiary  of Allstate  Insurance  Company
("AIC"),   a  wholly  owned   subsidiary  of  The  Allstate   Corporation   (the
"Corporation"),  markets a  diversified  group of  products  to meet  consumers'
lifetime needs in the areas of protection and retirement  solutions in the state
of  New  York  through  Allstate  agencies,  financial  services  firms,  direct
marketing and  specialized  brokers.  The Company's  products  include term life
insurance;  whole life  insurance;  annuities such as fixed deferred  annuities,
market value adjusted annuities and treasury-linked annuities; variable deferred
annuities; immediate annuities; and other protection products such as accidental
death and hospital indemnity.                                                   

The Company has identified itself as a single segment entity.         

     The assets  and  liabilities  related to  variable  annuity  contracts  are
legally  segregated  and  reflected  as  Separate  Accounts.  The  assets of the
Separate  Accounts  are carried at fair  value.  Separate  Accounts  liabilities
represent the  contractholders' claims to the related  assets and are carried at
the fair value of the assets.  Investment  income and realized capital gains and
losses of the  Separate  Accounts  accrue  directly to the  contractholders  and
therefore are not included in the Company's condensed  statements of operations.
Revenues  to  the  Company  from  the  Separate  Accounts  consist  of  contract
maintenance  and  administration  fees  and  mortality,  surrender  and  expense
charges.                                                                        

     Absent any  contract  provision  wherein  the Company  guarantees  either a
minimum  return or account value upon death,  variable  annuity  contractholders
bear the investment  risk that the Separate  Accounts'  funds may not meet their
stated objectives.                                                              

11

10-Q 12th Page of 30 TOC 1st Previous Next ↓Bottom Just 12th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

                                                        [Enlarge/Download Table]


FINANCIAL HIGHLIGHTS                                                                                                         

                                                                       Three Months Ended             Nine Months Ended      
                                                                         September 30,                  September 30,        
                                                                   --------------------------    --------------------------- 
(in thousands)                                                        2002           2001            2002           2001     
                                                                   -----------    -----------    ------------    ----------- 
                                                                                                                             
Statutory premiums and deposits                                    $   317,187    $   158,389    $    723,660    $   520,589 
                                                                   ===========    ===========    ============    =========== 

Investments                                                        $ 4,003,652    $ 3,236,303    $  4,003,652    $ 3,236,303 
Separate Accounts Assets                                               511,227        529,094         511,227        529,094 
                                                                   -----------    -----------    ------------    ----------- 
Investments, including Separate Accounts Assets                    $ 4,514,879    $ 3,765,397    $  4,514,879    $ 3,765,397 
                                                                   ===========    ===========    ============    =========== 

GAAP Premiums                                                      $    12,881    $    29,445    $     65,655    $    76,438 
Contract charges                                                        12,930         10,150          37,537         30,621 
Net investment income                                                   59,188         51,377         170,569        150,072 
Contract benefits                                                       35,983         53,629         126,483        138,795 
Interest credited to contractholder funds                               23,042         19,075          64,472         53,557 
Amortization of deferred policy acquisition costs ("DAC")               11,368          1,476          18,441          4,079 
Operating costs and expenses                                             7,694          7,113          26,208         22,907 
                                                                   -----------    -----------    ------------    ----------- 
Operating income before tax                                              6,912          9,679          38,157         37,793 
Income tax expense on operations                                         2,313          3,369          13,086         13,142 
                                                                   -----------    -----------    ------------    ----------- 
Operating income (1)                                                     4,599          6,310          25,071         24,651 
Realized capital gains and losses, after-tax (2)                        (5,989)         1,338          (6,744)          (980)
Cumulative effect of change in accounting principle,                                                                         
   after-tax                                                                 -              -               -          (147) 
                                                                   -----------    -----------    ------------    ----------- 
Net (loss) income                                                  $    (1,390)   $     7,648    $     18,327    $    23,524 
                                                                   ===========    ===========    ============    =========== 

(1) For a complete definition of operating income, see the operating income                                                  
discussion beginning on page 14                                                                                              

(2) Reconciliation of Realized capital gains and losses                                                                      

                                                      Three Months Ended September 30,     Nine Months Ended September 30,   
                                                      ---------------------------------    -------------------------------   
    (in thousands)                                        2002              2001                2002             2001        
                                                      -------------    ----------------    ---------------    ------------   
    Realized capital gains and losses                 $     (10,231)   $          2,804    $       (11,696)   $        352   
    Reclassification of Amortization of DAC                     851                (707)             1,140          (1,889)  
    Reclassification of Income tax benefit (expense)          3,391                (759)             3,812             557   
                                                      -------------    ----------------    ---------------    ------------   
    Realized capital gains and losses, after-tax      $      (5,989)   $          1,338    $        (6,744)   $       (980)  
                                                      =============    ================    ===============    ============   


12

10-Q 13th Page of 30 TOC 1st Previous Next ↓Bottom Just 13th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

Statutory premiums and deposits                                                 

     Statutory  premiums and deposits is a measure used by management to analyze
sales trends.  Statutory  premiums and deposits  includes  premiums on insurance
policies and premiums and deposits on annuities  determined in  conformity  with
statutory   accounting  practices  prescribed  or  permitted  by  the  insurance
regulatory  authorities  of the state of New York,  and all other funds received
from customers on  deposit-type  products which are accounted for by the Company
on a generally  accepted  accounting  principles  ("GAAP") basis as liabilities,
rather  than as  revenue.  Statutory  accounting  practices,  and the  Company's
definition of statutory  premiums and deposits,  differ in material aspects from
GAAP. The Company's  method of calculating  statutory  premiums and deposits may
also be  different  from  the  method  used by  other  companies  and  therefore
comparability may be limited.                                                   

     The following table summarizes  statutory  premiums and deposits by product
line:                                                                           

                                                        [Enlarge/Download Table]


                                           Three Months Ended            Nine Months Ended     
                                              September 30,                September 30,       
                                        --------------------------  ---------------------------
(in thousands)                            2002            2001          2002           2001    
                                        -----------    -----------  ------------    -----------
                                                                                               
Life and other products                                                                        
   Interest-sensitive life             $     13,590    $    11,451  $    41,002    $    35,460 
   Traditional                                5,219          6,599       15,800         18,698 
   Other                                      2,078          2,127        6,576          6,330 
                                        -----------    -----------  -----------    ----------- 
     Total life and other products           20,887         20,177       63,378         60,488 
                                        -----------    -----------  -----------    ----------- 

Investment Products                                                                            
   Fixed annuities                          100,392         29,352      242,793        152,557 
   Immediate annuities                       17,095         38,056       79,638         98,910 
   Variable annuities                       178,813         70,804      337,851        208,634 
                                        -----------    -----------  -----------    ----------- 
     Total investment products              296,300        138,212      660,282        460,101 
                                        -----------    -----------  -----------    ----------- 
Total statutory premiums and deposits   $   317,187    $   158,389  $   723,660    $   520,589 
                                        ===========    ===========  ===========    =========== 

     Total statutory premiums and deposits increased 100.3% to $317.2 million in
the third quarter of 2002 from $158.4  million in the third quarter of 2001. The
increase is due to growth in sales of fixed  annuities  and  variable  annuities
partially offset by decreased sales of immediate annuities.                     

     Total statutory  premiums and deposits increased 39.0% to $723.7 million in
the first nine  months of 2002 from  $520.6  million in the same period of 2001.
This increase was due to growth in sales of fixed annuities,  variable annuities
and  interest-sensitive  life insurance,  partially offset by decreased sales of
immediate annuities.                                                            

13

10-Q 14th Page of 30 TOC 1st Previous Next ↓Bottom Just 14th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

GAAP premiums and contract charges                                              

     Under GAAP, premiums represent premiums generated from traditional life and
other  insurance  products  and  immediate   annuities  which  have  significant
mortality   or   morbidity   risk,   and   contract   charges   generated   from
interest-sensitive life insurance products,  variable annuities, fixed annuities
and  other   investment   products  for  which   deposits  are   classified   as
contractholder  funds or Separate  Accounts  liabilities.  Contract  charges are
assessed   against  the   contractholder   account   balance  for   maintenance,
administration,  cost of insurance  and early  surrender.  The  following  table
summarizes GAAP premiums and contract charges:                                  

                                                        [Enlarge/Download Table]


                                                       Three Months Ended          Nine Months Ended      
                                                          September 30,              September 30,        
                                                    -------------------------  ---------------------------
(in thousands)                                        2002           2001         2002            2001    
                                                    ---------    ------------  -----------    ------------
                                                                                                          
Premiums                                                                                                  
   Traditional life                                 $   5,296    $     6,221   $  15,856    $      17,962 
   Immediate annuities with life contingencies (1)      5,503         21,119      43,225           52,130 
   Other                                                2,082          2,105       6,574            6,346 
                                                    ---------    -----------   ---------     ------------ 
     Total premiums                                    12,881         29,445      65,655           76,438 
                                                    ---------    -----------   ---------     ------------ 

Contract charges                                                                                          
   Interest-sensitive life                              9,131          6,749      27,090           20,455 
   Variable annuities                                   2,923          2,496       8,209            7,092 
   Investment contracts                                   876            905       2,238            3,074 
                                                    ---------    -----------   ---------     ------------ 
     Total contract charges                            12,930         10,150      37,537           30,621 
                                                    ---------    -----------   ---------     ------------ 
Total GAAP premiums and contract charges            $  25,811    $    39,595   $ 103,192     $    107,059 
                                                    =========    ===========   =========     ============ 

     (1) Under GAAP accounting requirements, only those immediate annuities with
     life   contingencies  are  recognized  in  premiums.   Those  without  life
     contingencies,  called period certain, are recorded directly as liabilities
and generate investment margins and contract charges.                 

     In the  third  quarter  and  first  nine  months  of 2002,  total  premiums
decreased 56.3% and 14.1% respectively,  compared to the same period of 2001 due
to  declines  in  sales of  immediate  annuities  with  life  contingencies  and
traditional  life  premiums.  Declines in the sales of immediate  annuities with
life contingencies  were due to a change in the mix of immediate  annuities sold
and due to market  conditions.  The  decline in  traditional  life  premiums  is
related to the Company entering into a reinsurance  agreement for certain of its
direct  marketing  credit life insurance  products and lower term life insurance
premiums.                                                                       

     Total contract  charges  increased  27.4% during the third quarter of 2002,
and 22.6% for the first nine  months of 2002,  compared  to the same  periods in
2001 due to  growth  in  interest-sensitive  life  account  values  in force and
contract charge rate increases.  Contract charges on variable  annuities,  which
are generally calculated as a percentage of each account value,  increased 17.1%
and 15.8% for the third quarter and first nine months of 2002, respectively,  as
a result of increased  sales of variable  annuities and transfers from the fixed
account  contract  option more than  offsetting  declines in account values as a
result of equity market declines.                                               

Operating income                                                                

     Operating income is a measure used by the Company's  management to evaluate
profitability.  Operating  income is  defined as Income  before  the  cumulative
effect of  changes  in  accounting  principles,  after-tax,  and  excluding  the
after-tax  effects of  realized  capital  gains and losses.  In this  management
measure,  the effects of  realized  capital  gains and losses and certain  other
items have been excluded due to the volatility  between periods and because such
data is often excluded when  evaluating the overall  financial  performance  and
profitability of insurers. These operating results should not be considered as a
substitute for any GAAP measure of performance.  A  reconciliation  of operating
income to net income is provided in the table on page 12. The  Company's  method
of calculating  operating  income may be different from the method used by other
companies and therefore comparability may be limited.                           

14

10-Q 15th Page of 30 TOC 1st Previous Next ↓Bottom Just 15th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

                                                        [Enlarge/Download Table]


                                    Three Months Ended         Nine Months Ended      
                                        September 30,             September 30,       
                                  ------------------------   ------------------------ 
(in thousands)                      2002           2001        2002          2001     
                                  ----------    ----------   ----------    ---------- 
                                                                                      
Investment margin                 $   11,921    $  10,974    $   37,011    $    33,164
Mortality margin                       7,548        1,044        26,909         14,178
Maintenance charges                    5,200        5,323        15,377         14,649
Surrender charges                      1,305          927         3,509          2,788
DAC amortization                      11,369        1,476        18,442          4,079
Operating costs and expenses           7,693        7,113        26,207         22,907
Income tax expense on operations       2,313        3,369        13,086         13,142
                                  ----------    ---------    ----------    -----------
Operating income                  $    4,599    $   6,310   $    25,071    $    24,651
                                  ==========    =========   ===========    ===========

     Operating  income  decreased  27.1% in the third  quarter  of 2002 from the
third  quarter  of  2001  due  primarily  to  an  increase  in  deferred  policy
acquisition costs ("DAC")  amortization and higher Operating costs and expenses,
partly offset by increases in the  investment and mortality  margins.  Operating
income  increased 1.7% in the first nine months of 2002, over the same period in
the prior  year,  due to  increases  in the  investment  and  mortality  margins
partially offset by increased amortization of DAC and higher Operating costs and
expenses.                                                                       

     Investment  margin,  which  represents the excess of net investment  income
earned over interest  credited to policyholders and  contractholders,  increased
8.6% in the third  quarter of 2002 and 11.6% for the first  nine  months of 2002
compared to the same periods last year. The increase in both periods is a result
of growth in invested assets,  driven by sales of fixed and immediate annuities,
less contract benefits and surrenders and withdrawals. Invested assets increased
22.8% as of September  30, 2002  compared to September  30, 2001.  The impact of
this growth was partly offset by a decline in invested  assets yields from lower
reinvestment rates resulting from market conditions. Management actions taken in
2001 and  2002 to  reduce  crediting  rates  where  contractually  allowed  have
partially  offset the impact on  investment  margin of the  decline in  invested
asset yields.                                                                   

     Mortality margin,  which represents  premiums and cost of insurance charges
less related policy benefits,  increased 623.0% in the third quarter of 2002 and
89.8% for the first nine months of 2002  compared to the same periods last year.
The mortality margins in the third quarter and first nine months of 2001 reflect
the impact of the  September  11, 2001  attack on the World Trade  Center in New
York City. New premiums and cost of insurance  contract  charges on new business
have  improved the  mortality  margin  compared to the same periods in the prior
year.  Mortality and morbidity  loss  experience  can cause benefit  payments to
fluctuate from period to period while  underwriting  and pricing  guidelines are
based on a long-term view of the trends in mortality and morbidity.             

     Variable  annuities  have contract  provisions  that provide a benefit of a
minimum  account  value at death,  which are referred to as  guaranteed  minimum
death benefits ("GMDBs").  In addition,  certain variable annuity contracts have
provisions that provide for a future minimum income  annuitization value used to
determine  the  contractholder's  payout  benefits,  which  are  referred  to as
guaranteed minimum income benefits ("GMIBs"). At any point in time, the value or
amount of these  guarantees is dependent upon the investment  performance of the
underlying Separate Accounts,  and is not proportional to the amount of periodic
fees assessed  against the  contractholder  for these  benefits.  The Company is
responsible for meeting these guaranteed benefits and receives any fees assessed
for these  benefits.  Net cash  payments  for GMDBs were $702  thousand and $2.0
million  for  the  quarter  and  the  nine  months  ended  September  30,  2002,
respectively.  This  compares  to net cash  payments of $252  thousand  and $545
thousand for the three and nine month  periods  ended  September  30, 2001.  The
aggregate  amount of the Company's GMDB in excess of the related account values,
payable if all  contractholders  were to have died as of September  30, 2002, is
estimated to be $237.0 million  compared to $120.5 million at December 31, 2001.
As of September 30, 2002,  approximately  two-thirds of this exposure is related
to the return of customer deposits while the remaining one-third is attributable
to some form of enhanced death benefit greater than customer deposits.          
15

10-Q 16th Page of 30 TOC 1st Previous Next ↓Bottom Just 16th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

     Amortization  of DAC for the  Company  is  dependent  on the  nature of the
insurance  contract  and  requires  judgment  on both  the  period  and  rate of
amortization.  DAC amortization periods for products with significant  mortality
or morbidity risk are determined  when the products are sold, and are related to
the periods in which premiums are received on these  products.  Amortization  is
recognized  in  proportion  to  the  pattern  of  expected   gross  profits  for
interest-sensitive life insurance and investment products, which is dependent on
expected  investment  returns  and  product  profitability  experience  and  the
estimated   lives   of   the   contracts.   The   recoverability   of   DAC   on
interest-sensitive  life insurance and certain  investment  products is reviewed
regularly in the aggregate, using current assumptions.  The average lives of the
contracts are considerably  shorter than the stated  amortization  period due to
withdrawals,  surrenders and other policy  terminations.  The average  long-term
rate of assumed future  investment yield of the Separate Accounts assets related
to variable annuity  contracts used in estimating  expected gross margin is 8.0%
after fees. When market returns vary from the 8% long-term  expectation or mean,
the Company  assumes a reversion  to this mean over a seven-year  period,  which
includes two prior years and five future  years.  The assumed  returns over this
period are limited to a range between 0% and 13.25% after fees.                 

     The steep and sustained  decline in the equity  markets for the nine months
ended September 30, 2002 resulted in accelerated DAC  amortization  (called "DAC
unlocking") on variable  annuities,  totaling $6.9 million in the third quarter.
Improved  persistency on fixed annuities  partially  offset the variable annuity
DAC unlocking,  for a net pre-tax acceleration of DAC amortization adjustment of
$6.0  million in the third  quarter  of 2002.  Future  volatility  in the equity
markets of similar or greater magnitude may result in non-symmetrical  increases
or decreases in the amortization of DAC.                                        

The following table summarizes the DAC asset balance by product.      

                                                                [Download Table]


                          Amortization         September 30,       December 31,  
(in thousands)               Period                 2002               2001      
                         ----------------  -------------------  -----------------
                                                                                 
Traditional Life            7-30 year      $            30,838  $          27,757
Other                        various                     3,345              3,946
                                           -------------------  -----------------
                                                        34,183             31,703

Interest-sensitive life     30 years                    58,818             59,574
Fixed annuity               15 years                    11,245             14,701
Variable annuity            15 years                    58,972             50,637
                                           -------------------  -----------------
                                                       129,035            124,912
                                           -------------------  -----------------
Total DAC                                  $           163,218  $         156,615
                                           ===================  =================


     DAC  amortization  increased  $9.9 million during the third quarter of 2002
and $14.4  million  during the first nine  months of 2002  compared  to the same
periods  of 2001 due DAC  unlocking  in the third  quarter  of 2002 and  ongoing
growth of the business in force.                                                

     Operating  costs and expenses  increased  8.2% during the third  quarter of
2002 and 14.4% for the first nine months of 2002 compared to the same periods in
2001  due to  distribution  expenses  incurred  on new  growth  initiatives  and
increased administrative expenses.                                              

Net investment income                                                           

     Pretax net investment  income  increased 15.2% in the third quarter of 2002
compared to the same period in 2001.  For the first nine months of 2002,  pretax
net investment income increased 13.7% compared to the same period last year. The
increase  was due to higher  investment  balances  partially  offset by slightly
lower portfolio yields. Lower portfolio yields were due to funds from operations
and reinvestments  being invested at current market rates. At September 30, 2002
investment  balances,  excluding  Separate Accounts and net unrealized gains and
losses on fixed income  securities,  increased  22.8%  compared to September 30,
2001.                                                                           

16

10-Q 17th Page of 30 TOC 1st Previous Next ↓Bottom Just 17th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

After-tax realized capital gains and losses                                     

     After-tax  realized  capital losses were $6.0 million for the third quarter
of 2002 compared to after-tax realized capital gains of $1.3 million in the same
period last year.  After-tax  realized  capital losses were $6.7 million for the
first nine  months of 2002  compared  to $980  thousand  in the same period last
year.  After-tax  realized  capital  gains and losses are  presented  net of the
effects of DAC  amortization,  to the extent that such effects resulted from the
recognition of realized capital gains and losses.  The following table describes
the factors impacting the realized capital gains and losses results:            

                                                        [Enlarge/Download Table]

                                                        Three Months Ended              Nine Months Ended        
                                                           September 30,                  September 30,          
                                                    ----------------------------    ---------------------------  
(in thousands)                                         2002             2001           2002            2001      
                                                    ------------     -----------    -----------     -----------  
                                                                                                                 
Portfolio trading                                   $       1,584    $      1,572   $      1,262    $      1,151 
Investment write-downs                                     (7,610)             94         (8,738)           (798)
Valuation of derivative securities                           (506)            122              4            (128)
                                                    -------------    ------------   ------------    ------------ 
Subtotal                                                   (6,532)          1,788         (7,472)            225 
Reclassification of amortization of DAC                       543            (450)           728          (1,205)
                                                    -------------    ------------   ------------    ------------ 
Total realized capital gains and losses, after-tax  $      (5,989)   $      1,338   $     (6,744)   $       (980)
                                                    =============    ============   ============    ============ 

 For a further discussion of realized capital gains and losses, see page 19.

INVESTMENTS                                                                     

     The composition of the Company's investment portfolio at September 30, 2002
is presented in the following table:                                            

                                                           Percent
(in thousands)                                                   to total       
                                                          --------------
Fixed income securities (1)              $      3,507,153               87.6%   
Mortgage loans                                    290,377                7.3    
Short-term                                        172,889                4.3    
Policy loans                                       33,233                0.8    
                                     ----------------     --------------
  Total                               $      4,003,652              100.0%
                                     ================     ==============

     (1) Fixed income  securities are carried at fair value.  Amortized cost for
these securities was $3.11 billion at September 30, 2002.             

     Total  investments  were $4.00  billion at September  30, 2002  compared to
$3.23  billion at December  31, 2001.  The increase was due to amounts  invested
from positive cash flows  generated  from  operations  and increased  unrealized
capital  gains.  At September  30, 2002,  unrealized  capital gains on the fixed
income  securities  portfolio were $391.0 million  compared to $216.2 million at
December 31, 2001.                                                              

     At  September  30, 2002,  96.9% of the  Company's  fixed income  securities
portfolio  was rated  investment  grade,  which is defined  by the  Company as a
security   having  a  rating  from  the   National   Association   of  Insurance
Commissioners ("NAIC") of 1 or 2, a Moody's equivalent rating of Aaa, Aa, A, Baa
or a comparable Company internal rating.                                        

     Total investment balances related to the collateral from securities lending
increased  to $181.1  million  at  September  30,  2002 from  $140.3  million at
December 31, 2001.                                                              

     Fixed income  securities  include bonds,  mortgage-backed  and asset-backed
securities.  All fixed  income  securities  are  carried  at fair  value and are
classified as available for sale. The fair value of publicly traded fixed income
securities  is based on quoted market prices or dealer  quotes.  The  difference
between  amortized  cost and  fair  value of  fixed  income  securities,  net of
deferred  income taxes,  certain life and annuity  deferred  policy  acquisition
costs, and certain reserves for life-contingent  contract benefits, is reflected
as a component of other comprehensive income.                                   

     The fair value of non-publicly  traded securities at September 30, 2002 was
$707.2 million.  The fair value of  non-publicly  traded  securities,  which are
privately  placed  corporate  obligations,  is based on either  widely  accepted
pricing  valuation  models  which  utilize  internally   developed  ratings  and
independent  third party data (e.g., term structures and current publicly traded
bond prices) as inputs or independent third party pricing sources. The valuation
models  use  indicative  information  such as  ratings,  industry,  coupon,  and
maturity along with related third party data and publicly  traded bond prices to
determine  security  specific  spreads.  These  spreads  are then  adjusted  for
illiquidity based on historical analysis and broker surveys. Periodic changes in
fair values are  reported as a component of other  comprehensive  income and are
reclassified  to  net  income  only  when  supported  by the  consummation  of a
transaction with an unrelated third party.                                      
17

10-Q 18th Page of 30 TOC 1st Previous Next ↓Bottom Just 18th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

 The following table presents the amortized cost, gross unrealized gains and
losses and fair value for fixed income securities.                              

                                                        [Enlarge/Download Table]

                                                 Amortized             Gross unrealized               Fair                    
                                                   cost            gains           losses            value                    
                                                 ---------         -----           ------            ------                   
                                                                                                                              
(in thousands)                                                                                                                
 At September 30, 2002                                                                                                        
 U.S. government and agencies                    $   594,464     $  243,475     $         -       $    837,939                
 Municipal                                            95,300          8,611              (1)           103,910                
 Corporate                                         1,801,157        163,947         (55,702)         1,909,402                
 Mortgage-backed securities                          568,920         32,233            (413)           600,740                
 Asset-backed securities                              56,357          2,557          (3,752)            55,162                
                                                 -----------     ----------     -----------       ------------                
    Total fixed income securities                $ 3,116,198     $  450,823     $   (59,868)      $  3,507,153                
                                                 ===========     ==========     ===========       ============                

 At December 31, 2001                                                                                                         
 U.S. government and agencies                    $   579,607     $  117,918     $      (533)      $    696,992                
 Municipal                                           150,543          3,695             (47)           154,191                
 Corporate                                         1,467,635         96,974         (18,492)         1,546,117                
 Mortgage-backed securities                          425,635         16,737            (228)           442,144                
 Asset-backed securities                              54,844          1,081            (908)            55,017                
                                                 -----------    -----------     -----------       ------------                
   Total fixed income securities                 $ 2,678,264    $   236,405     $   (20,208)      $  2,894,461                
                                                 ===========    ===========     ===========       ============                

     The net unrealized capital gain on fixed income securities at September 30,                                              
2002 was $391 million.  Unrealized  losses were  primarily  concentrated  in the                                              
Corporate fixed income portfolios.                                                                                            

     The Company monitors the quality of its fixed income portfolio, in part, by                                              
categorizing certain investments as problem, restructured, or potential problem.                                              
Problem fixed income securities are generally securities in default with respect                                              
to principal  and/or  interest and/or  securities  issued by companies that have                                              
entered  bankruptcy  subsequent  to the Company's  acquisition  of the security.                                              
Restructured  fixed income  securities  have modified terms and conditions  that                                              
were  not  reflective  of  current  market  rates  or  terms  at the time of the                                              
restructuring.  Potential  problem  fixed  income  securities  are current  with                                              
respect to contractual principal and/or interest, but because of other facts and                                              
circumstances,  the Company has concerns regarding the borrower's ability to pay                                              
future interest and principal in accordance with contractual terms, which causes                                              
the  Company  to  believe  these  securities  may be  classified  as  problem or                                              
restructured in the future. Provisions for losses are recognized for declines in                                              
value of fixed  income  securities  that are deemed  other than  temporary.  The                                              
following table  summarizes the balances of problem and potential  problem fixed                                              
income securities.                                                                                                            

(in thousands)                                       September 30, 2002                          December 31, 2001            
                                                     ------------------                          -----------------            
                                                                       Percent of                                  Percent of 
                                                                      total Fixed                                 total Fixed 
                                         Amortized         Fair         Income        Amortized       Fair           Income   
                                            cost          value        portfolio         cost         Value         portfolio 
                                         ---------        -----       -----------     ---------       -----       ----------- 
Problem                                   $ 25,610      $ 19,479              0.5%    $   6,711      $ 5,279              0.2%
Potential problem                            3,407         3,106              0.1             -            -                - 
                                          --------      --------      -----------     ---------      -------      ----------- 
Total net carrying value                  $ 29,017      $ 22,585              0.6%    $   6,711      $ 5,279              0.2%
                                          ========      ========      ===========     =========      =======      =========== 
Cumulative write-downs recognized         $ 13,444                                    $     174                               
                                          ========                                    =========                               

18

10-Q 19th Page of 30 TOC 1st Previous Next ↓Bottom Just 19th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

     The Company  has  experienced  an  increase in its balance of fixed  income
securities  categorized as problem or potential problem as of September 30, 2002
compared to December  31,  2001.  The  Company  had no fixed  income  securities
categorized as  restructured  at September 30, 2002 or December 31, 2001. Due to
the continued  declining  economic and market  conditions  during 2002, there is
potential for these balances to increase in the future,  but the total amount of
securities  in  these  categories  are  expected  to  remain  a  relatively  low
percentage of the total fixed income securities portfolio.                      

     In October 2002,  the  corporate  bond market  experienced  the fifth worst
month  on  record  for  downgrades   according  to  Moody's  Investor   Service.
Accordingly,  securities  in which  the  Company  has  holdings,  may have  been
adversely  affected.  These  downgrades are indicative of a continued  difficult
credit  environment  that may lead to increased  recognition of realized capital
losses from investment write-downs and sales activities in subsequent periods.  

     The Company has an monitoring  process to identify fixed income  securities
whose  carrying  value may be other  than  temporarily  impaired.  This  process
includes a  quarterly  review of all  securities  using a  screening  process to
identify those  securities  whose fair value compared to amortized cost is below
established  thresholds or are identified through other monitoring criteria such
as ratings  downgrades or payment  defaults.  Securities with an unrealized loss
greater  than 20% of their  amortized  cost for fixed  income  securities  for a
period of six  consecutive  months or more are identified  through this process.
The securities identified, in addition to other securities for which the Company
may have  concern,  or  securities  considered  to be problem,  restructured  or
potential problem securities, are evaluated based on facts and circumstances for
inclusion on the "watchlist." Securities on the watchlist are reviewed in detail
to determine whether any other than temporary impairment exists.                

     The Company  writes  down to fair value a security  that is  classified  as
other than temporarily impaired in the period the security is deemed to be other
than temporarily impaired.  The assessment of other than temporary impairment is
performed on a case-by-case basis considering a wide range of factors.  Inherent
in the  Company's  evaluation  of a  particular  security  are  assumptions  and
estimates about the operations of the issuer and its future earnings  potential.
Some of the factors  considered in evaluating whether a decline in fair value is
other than temporary are:                                                       

     o    The Company's ability and intent to retain the investment for a period
     of time sufficient to allow for an anticipated recovery in value;

     o    The duration for and extent to which the fair value has been less than
amortized cost for fixed income securities;                 

     o    The financial  condition,  near-term prospects and long-term prospects
of the issuer; and                                          

     o    The specific  reasons that a security is in a  significant  unrealized
loss position.                                              

The following table describes the components of the realized capital gains and  
losses.                                                                         

                                                        [Enlarge/Download Table]

                                              Three Months Ended           Nine Months Ended        
                                                September 30,                September 30,          
(in thousands)                               2002           2001           2002          2001       
                                          -----------    -----------    -----------   -----------   
                                                                                                    
Investment write-downs                    $    (11,920)  $         148  $    (13,676) $      (1,252)
Sales                                                                                               
   Fixed income securities                       1,221           2,419           319          1,757 
   Other                                           468              45         1,656             47 
                                          ------------   -------------  ------------  ------------- 
   Total sales                                 (10,231)          2,612       (11,701)           552 

Valuation of derivative instruments                  -             192             5           (200)
                                         -------------   -------------  ------------  ------------- 
Total realized capital gains and losses  $     (10,231)  $       2,804  $    (11,696) $         352 
                                         =============   =============  ============  ============= 

     The Company  recorded,  for the nine months ended  September 30, 2002, $319
thousand  in net gains from sales of  securities,  which is  comprised  of gross
gains of $6.7 million and gross losses of $6.4 million.  Gross losses from sales
of securities of $6.4 million  which,  combined with  investment  write-downs of
$13.7  million,  represent the total gross  realized  losses of $20.1 million on
fixed income securities for the nine months ended September 30, 2002.           

The $6.4 million in losses from sales of fixed income securities primarily
related to a decision to reduce exposure to certain holdings due to severely    
constrained liquidity conditions in the market and reductions of exposure to    
deteriorating credits.                                                          
19

10-Q 20th Page of 30 TOC 1st Previous Next ↓Bottom Just 20th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

     The  following  list details the five largest  losses from  write-downs  by
issuer,  the related  circumstances  giving rise to the loss and a discussion of
how those circumstances may have impacted other material investments held.      

     o    A $6.96  million  write-down  on a global  energy  company  and  power
          generator,  which missed coupon  payments in September due to severely
constrained liquidity.                                      

     o    A $1.88 million write-down on senior unsecured  securities issued by a
          seismic data and related  geophysical  services  company that has been
          experiencing liquidity pressures. The circumstances of this impairment
        are not expected to have a material impact on the other investments.

     o    A $1.66  million  write-down  on  securities  issued  by a major  U.S.
          airline that filed for bankruptcy. We have no other securities of this
          issuer and currently expect to hold our existing  positions until they
          recover in value or mature.  The U.S. airline industry is under stress
          and  we  are   monitoring  our   investments   in  airlines   closely,
particularly with regard to collateral values.              

     o    A $1.43 million  write-down on  collateralized  debt obligation notes.
          The loss  resulted  from the  decline  in  value of the  portfolio  of
high-yield  bonds securing the notes.                       

     o    A $1.26 million  write-down on a major U.S.  airline that may file for
          bankruptcy.  The loss  primarily  relates to an unsecured  issue whose
collateral value is insufficient.                           

     There are a number of risks and  uncertainties  inherent  in the process of
monitoring impairments and determining if an impairment is other than temporary.
These risks and uncertainties include the risks that:                           

     o    The  economic  outlook  is worse  than  anticipated  and has a greater
adverse impact on a particular issuer than anticipated;     

     o    The Company's  assessment of a particular issuer's ability to meet all
of its contractual obligations changes; and                 

     o    New  information  is obtained or facts and  circumstances  change that
          cause a change in the  Company's  ability or intent to hold a security
to maturity or until it recovers in value.                  

     These  risks and  uncertainties  could  result in a charge to  earnings  in
future  periods to the extent that losses are  realized.  The charge to earnings
would not have a significant  impact on Shareholder's  equity since the majority
of the portfolio is held at fair value and as a result,  the related  unrealized
gain  (loss),   net  of  tax,  is  currently   reflected  as  Accumulated  other
comprehensive income in Shareholder's equity.                                   

Separate Accounts                                                               

     Separate Accounts assets and liabilities  decreased 15.2% to $511.2 million
at  September  30, 2002 from  December 31,  2001.  The  decrease  was  primarily
attributable to declines in the fair value of the Separate  Accounts  investment
portfolios  due to equity market  conditions,  surrenders  and  withdrawals  and
expense charges,  partially  offset by sales of variable  annuity  contracts and
transfers from the fixed account contract option to variable  Separate  Accounts
funds.                                                                          

20

10-Q 21st Page of 30 TOC 1st Previous Next ↓Bottom Just 21st
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

CAPITAL RESOURCES AND LIQUIDITY                                                 

Capital Resources                                                               
The Company's capital resources consist of shareholder's equity. The      
following table summarizes the Company's capital resources:                     

                                                                [Download Table]


                                          September 30,        December 31,    
(in thousands)                                2002                 2001        
                                        ------------------  -------------------
                                                                               
Common stock and retained income        $         358,308   $          339,981 
Accumulated other comprehensive income            159,269              118,995 
                                        -----------------   ------------------ 
     Total shareholder's equity         $         517,577   $          458,976 
                                        =================   ================== 

Shareholder's equity                                                            
   Shareholder's equity increased in the first nine months of 2002 when compared
to December 31, 2001, due to net income and an increase in unrealized net       
capital gains.                                                                  

Debt                                                                            
The Company had no outstanding debt at September 30, 2002 and December 31,
2001.                                                                           

Financial Ratings and Strength                                                  
  Insurance financial strength ratings are an important factor in establishing
the competitive position of insurance companies and generally may be expected to
have an effect on an insurance company's sales. On an ongoing basis, rating     
agencies review the financial performance and condition of insurers. A multiple 
level downgrade, while not expected, could have a material adverse effect on the
Company's business, financial condition and results of operations. The Company's
insurance financial strength was rated Aa2, AA+, and A+ by Moody's, Standard &  
Poor's and A.M. Best, respectively, at September 30, 2002.                      

In October 2002, Standard & Poor's affirmed its ratings and its negative  
outlook for ALIC and its rated subsidiaries and affiliates, including the       
Company. The outlook had been changed in February 2002 from "stable" to         
"negative" as part of an ongoing life insurance industry review being conducted 
by Standard & Poor's. Since December 31, 2001, there have been no ratings       
changes for ALIC or the Company from A.M. Best or Moody's.                      

Liquidity                                                                       

The principal, potential sources of funds for the Company include the following 
activities:                                                                     

Premiums and deposits                                             
Reinsurance recoveries                                            
Receipts of principal, interest and dividends on investments      
Sales of investments                                              
Capital contributions from ALIC                                   
Inter-company loans                                               

The principal, potential uses of funds for the Company include the following    
activities:                                                                     

  Payment of contract benefits, maturities, surrenders and withdrawals
Reinsurance cessions and payments                                 
Operating expenses                                                
Purchase of investments                                           
Repayment of inter-company loans                                  
Dividends to ALIC                                                 

     Management believes that cash flows from operating and investing activities
of  the  Company  are  adequate  to  satisfy  liquidity  requirements  of  these
operations based on the current liability structure and considering a variety of
reasonably foreseeable stress scenarios.                                        

21

10-Q 22nd Page of 30 TOC 1st Previous Next ↓Bottom Just 22nd
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

     The maturity  structure of the  Company's  fixed income  securities,  which
represent  87.6% of the  Company's  total  investments,  is  managed to meet the
anticipated cash flow requirements of the underlying  liabilities.  A portion of
the Company's  diversified  product  portfolio,  primarily  fixed  annuities and
interest-sensitive   life  insurance  products,   is  subject  to  discretionary
surrenders and withdrawals by contractholders.  Total surrenders and withdrawals
for the three month period and nine month period ended  September  30, 2002 were
$45.5 million and $127.7  million  compared with $27.1 million and $75.8 million
for the  same  periods  last  year.  As the  Company's  interest-sensitive  life
insurance  policies  and annuity  contracts  in-force  grow and age,  the dollar
amount of surrenders and withdrawals could increase. While the overall amount of
surrenders  may increase in the future,  a significant  increase in the level of
surrenders relative to total contractholder account balances is not anticipated.

     The Company has  entered  into an  inter-company  loan  agreement  with the
Corporation.  The amount of  inter-company  loans available to the Company is at
the discretion of the  Corporation.  The maximum amount of loans the Corporation
will have  outstanding  to all its eligible  subsidiaries  at any given point in
time is limited to $1.00 billion.  No amounts were  outstanding  for the Company
under the  inter-company  loan  agreement at September 30, 2002 and December 31,
2001, respectively.                                                             

FORWARD-LOOKING STATEMENTS AND RISK FACTORS                                     

     This document contains "forward-looking statements" that anticipate results
based on management's  plans that are subject to uncertainty.  These  statements
are  made  subject  to the  safe-harbor  provisions  of the  Private  Securities
Litigation Reform Act of 1995.                                                  

     Forward-looking  statements do not relate strictly to historical or current
facts and may be  identified  by their  use of words  like  "plans,"  "expects,"
"will," "anticipates,"  "estimates,"  "intends," "believes," "likely," and other
words with similar meanings.  These statements may address,  among other things,
the Company's strategy for growth,  product development,  regulatory  approvals,
market  position,  expenses,  financial  results and  reserves.  Forward-looking
statements are based on management's  current expectations of future events. The
Company cannot  guarantee that any  forward-looking  statement will be accurate.
However,  management believes that our  forward-looking  statements are based on
reasonable,  current  expectations and  assumptions.  We assume no obligation to
update any  forward-looking  statements as a result of new information or future
events or developments.                                                         

     If  the   expectations  or  assumptions   underlying  our   forward-looking
statements prove inaccurate or if risks or uncertainties  arise,  actual results
could  differ  materially  from  those  communicated  in  these  forward-looking
statements.  In addition to the normal risks of business, the Company is subject
to significant  risk factors,  including those listed below which apply to it as
an insurance business and a provider of other financial services.               

o    New York requires insurers to participate in guaranty funds for impaired or
     insolvent insurance companies. Such funds periodically assess losses to all
     insurance  companies doing business in the state.  These assessments may be
material to the Company's financial results.                          

o    There  is   uncertainty   involved  in  estimating  the   availability   of
     non-affiliate   reinsurance  and  the  collectibility  of  reinsurance  and
     recoverables.  This uncertainty arises from a number of factors,  including
     whether losses meet the qualifying  conditions of the reinsurance contracts
   and if the reinsurers have the financial capacity and willingness to pay.

o    Currently,  the  Corporation  is examining  the  potential  exposure of its
     insurance  operations  to  acts  of  terrorism.  The  Corporation  is  also
     examining  how best to address this exposure  considering  the interests of
     policyholders,  shareholders, the lending community, regulators and others.
     The Company's life insurance  policies and annuities do not have exclusions
     for terrorist events. In the event that a terrorist act occurs, the Company
     may be  adversely  impacted,  depending  on the nature of the  event.  With
     respect to the Company's investment portfolio, in the event that commercial
     insurance  coverage for terrorism  becomes  unavailable  or too  expensive,
     there could be significant adverse impacts on some portion of the Company's
     portfolio,  particularly  in sectors such as airlines and real estate.  For
     example,  certain debt obligations  might be adversely  affected due to the
     inability  to obtain  coverage to restore the related  real estate or other
property, thereby creating the potential for increased default risk.  

o    Changes in market interest rates can have an adverse impact on the value of
     the investment  portfolio,  investment  income,  product sales,  results of
     operations and retention of existing  business.  Increasing market interest
     rates have an adverse impact on the value of the investment portfolio,  for
     example,  by  decreasing  the  fair  values  of  fixed  income  securities.
     Declining  market  interest  rates  could  have an  adverse  impact  on the
     Company's investment income as the Company reinvests proceeds from positive
     cash  flows  from  operations  and  proceeds  from  maturities,  calls  and
     repayments of investments  into new investments that could be yielding less
than the portfolio's average rate.                                    

22

10-Q 23rd Page of 30 TOC 1st Previous Next ↓Bottom Just 23rd
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

o    Changes in  interest  rates  could also  reduce  the  profitability  of the
     Company's  spread-based  products,   particularly  interest-sensitive  life
     insurance and investment  products,  as the  difference  between the amount
     that the Company is required to pay on such products and the rate of return
     earned on the  related  investments  could be  reduced.  Changes  in market
     interest  rates as  compared  to  rates  offered  on some of the  Company's
     products  could  make  those   products  less   attractive  if  competitive
     investment  margins  are not  maintained,  leading  to lower  sales  and/or
     changes in the level of surrenders and withdrawals for these products.  The
     Company's products generally have the flexibility to adjust crediting rates
     to reflect higher or lower investment returns. However, this flexibility is
     limited by contractual minimum crediting rates. Additionally, unanticipated
     surrenders  could cause  acceleration  of amortization of DAC or impact the
     recoverability  of DAC and thereby  increase  expenses  and reduce  current
     period profitability.  The Company seeks to limit its exposure to this risk
     by  offering  a  diverse  group of  products,  periodically  reviewing  and
     revising  crediting rates and providing for surrender  charges in the event
of early withdrawal.                                                  

o    The Company amortizes DAC related to interest-sensitive  life insurance and
     investment  contracts in  proportion  to gross  profits over the  estimated
     lives of the contracts.  Periodically,  the Company updates the assumptions
     underlying  the estimated  future gross  profits,  which include  estimated
     future  contract  charges,  investment  margins and  expenses,  in order to
     reflect  actual and expected  experience  and its  potential  impact to the
     valuation of DAC. Updates to these  assumptions  could result in adjustment
     to the  cumulative  amortization  of DAC.  For example,  reduced  estimated
     future gross profits  resulting from declines in contract  charges assessed
     against declining  Separate  Accounts'  balances resulting from poor equity
     market  performance,  could result in accelerated  amortization  of DAC. An
  adjustment, if any, may have a material effect on results of operations.

o    The impact of decreasing Separate Accounts balances resulting from volatile
     market  conditions,  underlying  fund  performance  and the  performance of
     distributors could cause contract charges earned by the Company to decrease
     and lead to an increase of exposure  to pay  guaranteed  minimum  death and
     income benefits and could also result in increased  statutory  reserves for
     these benefits,  leading to a reduction of the Company's  statutory capital
     and  surplus.  In  addition,  it  is  possible  that  the  assumptions  and
     projections  used by the Company in establishing  prices for the guaranteed
     minimum death benefits and guaranteed  minimum income  benefits on variable
     annuities,   particularly  assumptions  and  projections  about  investment
     performance,  do not  accurately  anticipate the level of costs the Company
     will ultimately  incur in providing  those  benefits,  resulting in adverse
     mortality  margin  trends  that may have a  material  effect on  results of
operations.                                                           

o    Conditions in the U.S. and  international  stock markets can have an impact
     on the Company's  variable  annuity  sales.  In general,  sales of variable
     annuities  increase  when the stock  markets  are rising  over an  extended
     period of time and decrease when stock markets are falling over an extended
period of time.                                                       

o    In order to meet the anticipated cash flow  requirements of its obligations
     to  policyholders,  from time to time the  Company  manages  the  effective
     duration gap between  investments and liabilities for contractholder  funds
     and reserves for  life-contingent  contract  benefits.  Adjustments made to
     modify  durations  may  have  an  impact  on the  value  of the  investment
     portfolio, investment income, interest credited to contractholder funds and
the investment margin.                                                

o    Management believes the reserves for life-contingent  contract benefits are
     adequate to cover ultimate policy  benefits,  despite the underlying  risks
     and uncertainties  associated with their  determination  when payments will
     not be made  until  well  into  the  future.  Reserves  are  based  on many
     assumptions and estimates, including estimated premiums to be received over
     the  assumed  life of the  policy,  the timing of the event  covered by the
     insurance  policy,  the  amount  of  contract  benefits  to be paid and the
     investment returns on the assets purchased with the premiums received.  The
     Company  periodically   reviews  and  revises  its  estimates.   If  future
     experience  differs  from  assumptions,  it may have a  material  impact on
results of operations.                                                

o    Under  current  U.S.  tax  law  and  regulations,  deferred  and  immediate
     annuities and life insurance,  including  interest-sensitive  products, are
     accorded   favorable   policyholder  tax  treatment.   Any  legislative  or
     regulatory  changes  that  adversely  alter  this  treatment  are likely to
     negatively  affect the  demand  for these  products.  In  addition,  recent
     changes in the federal  estate tax laws may reduce the demand for the types
of life insurance used in estate planning.                            

23

10-Q 24th Page of 30 TOC 1st Previous Next ↓Bottom Just 24th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

o    The  Company is  affiliated  with  various  entities  registered  under the
     federal  securities  laws as  broker-dealers,  investment  advisers  and/or
     investment  companies.   These  entities  are  subject  to  the  regulatory
     jurisdiction  of the  Securities  and  Exchange  Commission,  the  National
     Association of Securities  Dealers and/or, in some cases,  state securities
     administrators.  The laws regulating the securities products and activities
     of the entities are  complex,  numerous and subject to change.  As with any
     highly  regulated  industry,  there is some  degree  of risk of  regulatory
     non-compliance;  however  the  Company  has  in  place  various  legal  and
     compliance personnel,  procedures and systems designed to reasonably assure
compliance with these requirements.                                   

o    The Company distributes its products under agreements with other members of
     the financial  services  industry that are not affiliated with the Company.
     Termination of one or more of these agreements due to, for example, changes
     in control of any of these entities, could have a detrimental effect on the
     Company's  sales.  This risk may be exacerbated due to the enactment of the
     Gramm-Leach-Bliley Act of 1999, which eliminated many federal and state law
     barriers to affiliations among banks,  securities firms, insurers and other
financial service providers.                                          

o    The events of  September  11, 2001,  and the  resulting  disruption  in the
     financial  markets  revealed  weaknesses  in the physical  and  operational
     infrastructure  that  underlies the U.S. and worldwide  financial  systems.
     Those  weaknesses  did not impair the  Company's  liquidity  in the wake of
     September 11, 2001.  However,  if an event of similar or greater  magnitude
     occurred  in  the  future  and  if  the  weaknesses  in  the  physical  and
     operational  infrastructure of the U.S. and worldwide financial systems are
     not  remedied,  the Company could  encounter  significant  difficulties  in
     transferring  funds,  buying and selling  securities  and engaging in other
financial transactions that support its liquidity.                    

o    While  positive  operating  cash flows are expected to continue to meet the
     Corporation's liquidity requirements,  the Corporation's liquidity could be
     constrained  by a catastrophe  which  results in  extraordinary  losses,  a
     downgrade of the  Corporation's  current long-term debt rating of A1 and A+
     (from Moody's and Standard & Poor's,  respectively) to non-investment grade
     status  of  below  Baa3/BBB-,  a  downgrade  of AIC's  insurance  financial
     strength  rating from Aa2, AA and A+ (from  Moody's,  Standard & Poor's and
     A.M. Best,  respectively) to below  Baa/BBB/B,  or a downgrade in ALIC's or
     the  Company's  insurance  financial  strength  rating from Aa2, AA+ and A+
     (from  Moody's,  Standard & Poor's and A.M.  Best,  respectively)  to below
     Aa3/AA-/A-.  In the  event of a  downgrade  of the  Corporation's  or AIC's
     rating,  ALIC  and its  subsidiaries  including  the  Company,  could  also
experience a similar downgrade.                                       

o    Insurance   financial   strength   ratings  are  an  important   factor  in
     establishing the competitive  position of insurance companies and generally
     may be expected to have an effect on an insurance company's business. On an
     ongoing  basis,  rating  agencies  review  the  financial  performance  and
     condition of insurers and could downgrade or change a company's ratings due
     to, for example, a decline in the value of a company's investment portfolio
     or increased liabilities due to additional GMDB and GMIB exposure resulting
     from market declines.  A multiple level downgrade of the Corporation,  AIC,
     ALIC or the  Company,  while not  expected,  could have a material  adverse
     affect  on  the  Company's  sales,  including  the  competitiveness  of the
     Company's  product  offerings,  its  ability  to market  products,  and its
     financial  condition and results of operations.  Also, the rating  agencies
     have a variety of policies and practices  regarding the relationships among
     ratings of affiliated entities. As such, the ratings of the Company or ALIC
could be affected by changes in ratings of AIC and/or the Corporation.

o    State  insurance  regulatory  authorities  require  insurance  companies to
     maintain  specified levels of statutory  capital and surplus.  In addition,
     competitive  pressures require the Company to maintain insurance  financial
     strength ratings.  These  restrictions  affect the Company's ability to pay
shareholder dividends to ALIC and to use its capital in other ways.   

o    The Company currently has Separate Accounts liabilities which contain death
     benefit  features  covered by the  exposure  draft  Statement  of  Position
     ("SOP")  entitled  "Accounting  and Reporting by Insurance  Enterprises for
     Certain Nontraditional  Long-Duration Contracts and for Separate Accounts".
     The Company does not currently hold  liabilities for death benefit features
     covered by the SOP. If the SOP is adopted,  the Company's  establishment of
     liabilities  with respect to the contracts  could have a material impact on
     the  statement of  operations;  however,  the market  values at the time of
adoption will affect the amount of the liability required.            

24

10-Q 25th Page of 30 TOC 1st Previous Next ↓Bottom Just 25th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

o    Portions of the non-exchange  traded marketable  investment  securities are
     accounted for at fair value using  internally  developed,  widely  accepted
     valuation models and independent third party data as model inputs.  Changes
     in  the  fair  value  of  any   security   could   negatively   impact  the
     Corporation's,  AIC's,  ALIC's  and the  Company's  operating  income,  net
     income, assets, liabilities, shareholder's equity or debt-to-capital ratio.

o    Following  enactment  of  the   Gramm-Leach-Bliley  Act  of  1999,  federal
     legislation that allows mergers that combine commercial banks, insurers and
     securities  firms,  state  insurance   regulators  have  been  collectively
     participating in a reexamination of the regulatory framework that currently
     governs the United States insurance  business in an effort to determine the
     proper role of state insurance  regulation in the U.S.  financial  services
     industry.  In addition,  members of Congress  have  introduced or discussed
     measures to permit optional federal  chartering,  and thus  regulation,  of
     some types of insurance business,  such as life insurance and annuities. We
     cannot  predict  whether any state or federal  measures  will be adopted to
     change the nature or scope of the  regulation of the insurance  business or
what effect any such measures would have on the Company.              

o    The  Gramm-Leach-Bliley Act of 1999 permits mergers that combine commercial
     banks,  insurers  and  securities  firms under one holding  company.  Until
     passage of the  Gramm-Leach-Bliley  Act, the Glass Steagall Act of 1933 had
     limited the ability of banks to engage in securities-related businesses and
     the Bank  Holding  Company  Act of 1956 had  restricted  banks  from  being
     affiliated with insurers.  With the passage of the Gramm-Leach-Bliley  Act,
     bank holding companies may acquire insurers and insurance holding companies
     may acquire  banks.  In  addition,  grandfathered  unitary  thrift  holding
     companies,  including  The Allstate  Corporation,  may engage in activities
     that are not  financial in nature.  The ability of banks to affiliate  with
     insurers may materially adversely affect all of the Company's product lines
     by  substantially  increasing  the number,  size and financial  strength of
potential competitors.                                                

o    Like other members of the insurance industry,  the Company is the potential
     target of an increasing  number of class action lawsuits and other types of
     litigation  based on a variety of issues,  some of which involve claims for
     substantial and/or  indeterminate  amounts  (including  punitive and treble
     damages) and the outcomes of which are unpredictable.  GAAP prescribes when
     the  Company has a  contingent  liability  and may  reserve for  particular
     risks,  including  litigation  exposures.  Therefore,  results  for a given
     period  could  be  significantly  adversely  affected  when  a  reserve  is
established for litigation.                                           

o    In  some  states,  mutual  insurance  companies  can  convert  to a  hybrid
     structure  known  as  a  mutual  holding  company.  This  process  converts
     insurance  companies owned by their policyholders to become stock insurance
     companies  owned  (through  one or  more  intermediate  holding  companies)
     partially by their policyholders and partially by stockholders.  Also, some
     states  permit the  conversion  of mutual  insurance  companies  into stock
     insurance  companies  (demutualization).  The  ability of mutual  insurance
     companies  to convert to mutual  holding  companies or to  demutualize  may
     materially  adversely  affect  all of our  product  lines by  substantially
increasing competition for capital in the financial services industry.

o    The design of any system of controls  and  procedures,  including  internal
     controls  and  disclosure  controls and  procedures,  is based in part upon
     assumptions about the likelihood of future events.  As a result,  there can
     be no assurance  that any design will succeed in achieving its stated goals
under all potential future conditions, regardless of how remote.      

o    The impact of The Sarbanes-Oxley Act of 2002 on the business of the Company
     is being  evaluated  but  cannot be  completely  determined  at this  time,
particularly as it relates to split-dollar life insurance products.   

25

10-Q 26th Page of 30 TOC 1st Previous Next ↓Bottom Just 26th
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND     
      RESULTS OF OPERATIONS FOR THE THREE MONTH AND NINE MONTH PERIODS
     ENDED SEPTEMBER 30, 2002 AND 2001

 Item 4. Controls and Procedures

     Within the 90 days prior to the date of the filing of this report and under
the supervision and with the participation of the Company's management,         
including the principal executive officer and principal financial officer, the  
Company evaluated the effectiveness of the design and operation of the Company's
disclosure controls and procedures with respect to its quarterly reports on Form
10-Q and its current reports on Form 8-K to be filed with the Securities and    
Exchange Commission ("SEC"). Based upon that evaluation, the principal executive
officer and the principal financial officer concluded that these disclosure     
controls and procedures are effective in timely alerting them to material       
information relating to the Company required to be included in the Company's    
quarterly reports on Form 10-Q and its current reports on Form 8-K. "Disclosure 
controls and procedures" are those controls and procedures that are designed to 
ensure that information required to be disclosed by the Company in the reports  
that it files or submits under the Securities Exchange Act of 1934 is recorded, 
processed, summarized and reported, within the time periods specified in the    
SEC's rules and forms. They include controls and procedures designed to ensure  
that information required to be disclosed by the Company in reports that it     
files or submits under that Act is accumulated and communicated to the Company's
management, including the principal executive officer and principal financial   
officer, as appropriate to allow timely decisions regarding required disclosure.

In addition, there were no significant changes in the Company's internal        
controls or in other factors that could significantly affect these internal     
controls subsequent to the date of their evaluation.                            

26

10-Q 27th Page of 30 TOC 1st Previous Next ↓Bottom Just 27th
 PART II - OTHER INFORMATION

Item 1.      LEGAL PROCEEDINGS                                

                The discussion "Regulation and Legal Proceedings" in Part I,
       Item 1, Note 3 of this Form 10-Q is incorporated herein by reference.

Item 6.        Exhibits and Reports on Form 8-K               

(a)   Exhibits                                  

None                                

(b) Reports on Form 8-K                         

None.                               

27

10-Q 28th Page of 30 TOC 1st Previous Next ↓Bottom Just 28th
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 by the    
undersigned thereunto duly authorized.                                          

                   Allstate Life Insurance Company of New York
        (Registrant)

November 14, 2002            By  /s/  Samuel H. Pilch                           
           Samuel H. Pilch
                              (chief accounting officer and duly
                                 authorized officer of the Registrant)
CERTIFICATIONS                                                                  

I, Casey J. Sylla, certify that:                                                

1. I have reviewed this quarterly report on Form 10-Q of Allstate Life Insurance
Company of New York;                                                            

2. Based on my knowledge, this quarterly report does not contain any untrue     
statement of a material fact or omit to state a material fact necessary to make 
the statements made, in light of the circumstances under which such statements  
were made, not misleading with respect to the period covered by this quarterly  
report;                                                                         

3. Based on my knowledge, the financial statements, and other financial         
information included in this quarterly report, fairly present in all material   
respects the financial condition, results of operations and cash flows of the   
registrant as of, and for, the periods presented in this quarterly report;      

4. The registrant's other certifying officers and I are responsible for         
establishing and maintaining disclosure controls and procedures (as defined in  
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:           

a) designed such disclosure controls and procedures to ensure that material     
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the    
period in which this quarterly report is being prepared;                        

b) evaluated the effectiveness of the registrant's disclosure controls and      
procedures as of a date within 90 days prior to the filing date of this         
quarterly report (the "Evaluation Date"); and                                   

c) presented in this quarterly report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of the        
Evaluation Date;                                                                

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of 
registrant's board of directors (or persons performing the equivalent function):

a) all significant deficiencies in the design or operation of internal controls 
which could adversely affect the registrant's ability to record, process,       
summarize and report financial data and have identified for the registrant's    
auditors any material weaknesses in internal controls; and                      

b) any fraud, whether or not material, that involves management or other        
employees who have a significant role in the registrant's internal controls; and

28

10-Q 29th Page of 30 TOC 1st Previous Next ↓Bottom Just 29th
6. The registrant's other certifying officers and I have indicated in this      
quarterly report whether or not there were significant changes in internal      
controls or in other factors that could significantly affect internal controls  
subsequent to the date of our most recent evaluation, including any corrective  
actions with regard to significant deficiencies and material weaknesses.        

Date: November 14, 2002                                                         

             /s/  Casey J. Sylla
                                       Chairman of the Board and President

I. Steven E. Shebik, certify that:                                              

1. I have reviewed this quarterly report on Form 10-Q of Allstate Life Insurance
Company of New York;                                                            

2. Based on my knowledge, this quarterly report does not contain any untrue     
statement of a material fact or omit to state a material fact necessary to make 
the statements made, in light of the circumstances under which such statements  
were made, not misleading with respect to the period covered by this quarterly  
report;                                                                         

3. Based on my knowledge, the financial statements, and other financial         
information included in this quarterly report, fairly present in all material   
respects the financial condition, results of operations and cash flows of the   
registrant as of, and for, the periods presented in this quarterly report;      

4. The registrant's other certifying officers and I are responsible for         
establishing and maintaining disclosure controls and procedures (as defined in  
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:           

a) designed such disclosure controls and procedures to ensure that material     
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the    
period in which this quarterly report is being prepared;                        

b) evaluated the effectiveness of the registrant's disclosure controls and      
procedures as of a date within 90 days prior to the filing date of this         
quarterly report (the "Evaluation Date"); and                                   

c) presented in this quarterly report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of the        
Evaluation Date;                                                                

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of 
registrant's board of directors (or persons performing the equivalent function):

a) all significant deficiencies in the design or operation of internal controls 
which could adversely affect the registrant's ability to record, process,       
summarize and report financial data and have identified for the registrant's    
auditors any material weaknesses in internal controls; and                      

b) any fraud, whether or not material, that involves management or other        
employees who have a significant role in the registrant's internal controls; and

6. The registrant's other certifying officers and I have indicated in this      
quarterly report whether or not there were significant changes in internal      
controls or in other factors that could significantly affect internal controls  
subsequent to the date of our most recent evaluation, including any corrective  
actions with regard to significant deficiencies and material weaknesses.        

Date: November 14, 2002                                                         

                         /s/  Steven E. Shebik
                  Vice President

29

10-Q Last Page of 30 TOC 1st Previous Next ↓Bottom Just 30th
 CERTIFICATION
Pursuant to 18 United States Code ss. 1350

    Each of the undersigned hereby certifies that to his knowledge the
Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2002 of
Allstate Life Insurance Company of New York (the "Company") filed with the      
Securities and Exchange Commission fully complies with the requirements of      
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the      
information contained in such report fairly presents, in all material respects, 
the financial condition and results of operations of the Company.               

Date:  November 14, 2002                                                        
/s/  Casey J. Sylla         
Casey J. Sylla    
                 Chairman of the Board and President

/s/  Steven E. Shebik       
Steven E. Shebik  
Vice President    

30

10-Q	1st Page of 30	TOC	↑Top	Previous	Next	↓Bottom	Just 1st

10-Q	2nd Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 2nd

10-Q	3rd Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 3rd

10-Q	4th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 4th

10-Q	5th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 5th

10-Q	6th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 6th

10-Q	7th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 7th

10-Q	8th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 8th

10-Q	9th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 9th

10-Q	10th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 10th

10-Q	11th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 11th

10-Q	12th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 12th

10-Q	13th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 13th

10-Q	14th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 14th

10-Q	15th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 15th

10-Q	16th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 16th

10-Q	17th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 17th

10-Q	18th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 18th

10-Q	19th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 19th

10-Q	20th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 20th

10-Q	21st Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 21st

10-Q	22nd Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 22nd

10-Q	23rd Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 23rd

10-Q	24th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 24th

10-Q	25th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 25th

10-Q	26th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 26th

10-Q	27th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 27th

10-Q	28th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 28th

10-Q	29th Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 29th

10-Q	Last Page of 30	TOC	1st	Previous	Next	↓Bottom	Just 30th

Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10-Q’ Filing	Date	First	Last	Other Filings

	12/15/03	6
Filed on:	11/14/02	28	30
	10/31/02	1
For Period End:	9/30/02	1	30
	8/6/02	8
	7/31/02	6
	1/1/02	6
	12/31/01	6	22	10-K405
	9/30/01	2	26	10-Q
	9/11/01	15	24
	1/1/01	6
				List all Filings

↑Top

Filing Submission 0000945094-02-000685 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Allstate Life Insurance Co of New York – ‘10-Q’ for 9/30/02

On: Thursday, 11/14/02, at 4:47pm ET · For: 9/30/02 · Accession #: 945094-2-685 · File #: 33-47245

Previous ‘10-Q’: ‘10-Q’ on 8/14/02 for 6/30/02 · Next: ‘10-Q’ on 5/14/03 for 3/31/03 · Latest: ‘10-Q’ on 5/12/09 for 3/31/09

Quarterly Report — Form 10-QFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Form 10-Q
Filing Table of Contents