The Prudential Series Fund

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PRUCO LIFE INSURANCE COMPANY CONSOLIDATED FINANCIAL STATEMENTS Consolidated Statements of Financial Position B-1 Consolidated Statements of Operations and Comprehensive Income B-2 Consolidated Statements of Stockholder’s Equity B-3 Consolidated Statements of Cash Flows B-4 Notes to Consolidated Financial Statements B-5 Report of Independent Registered Public Accounting Firm B-43
Pruco Life Insurance Company Consolidated Statements of Financial Position As of December 31, 2008 and 2007 (in thousands, except share amounts) 2008 2007 ASSETS Fixed maturities available for sale, at fair value (amortized cost, 2008 - $4,865,526; 2007 - $4,470,186) $ 4,544,162 $ 4,509,969 Equity securities available for sale, at fair value (amortized cost, 2008 - $28,015; 2007: $28,037) 16,872 30,107 Trading account assets 9,967 1,164 Policy loans 1,001,518 961,054 Short term investments 76,195 119,606 Commercial loans 881,638 745,223 Other long term investments 86,833 53,288 Total investments 6,617,185 6,420,411 Cash and cash equivalents 595,045 92,964 Deferred policy acquisition costs 2,602,085 2,174,315 Accrued investment income 79,161 73,968 Reinsurance recoverables 3,043,662 1,599,910 Receivables from parent and affiliates 190,576 155,990 Deferred sales inducements 269,310 215,057 Other assets 24,005 15,932 Separate account assets 17,574,530 24,609,488 TOTAL ASSETS $ 30,995,559 $ 35,358,035 LIABILITIES AND STOCKHOLDER’S EQUITY LIABILITIES Policyholders’ account balances $ 6,322,008 $ 5,076,654 Future policy benefits and other policyholder liabilities 3,518,081 2,175,326 Cash collateral for loaned securities 109,342 142,680 Securities sold under agreement to repurchase 44,371 272,803 Income taxes payable 477,591 484,107 Short term debt to affiliates 100 55,863 Payables to parent and affiliates 75,653 60,207 Other liabilities 146,142 207,491 Separate account liabilities 17,574,530 24,609,488 Total liabilities $ 28,267,818 $ 33,084,619 COMMITMENTS AND CONTINGENT LIABILITIES (See Note 12) STOCKHOLDER’S EQUITY Common stock, ($10 par value; 1,000,000 shares, authorized; 250,000 shares, issued and outstanding) 2,500 2,500 Additional paid-in capital 815,664 455,664 Retained earnings 2,046,712 1,797,387 Accumulated other comprehensive income (137,135) 17,865 Total stockholder’s equity 2,727,741 2,273,416 TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY $ 30,995,559 $ 35,358,035 See Notes to Consolidated Financial Statements B-1
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MAY 1, 2009 PROSPECTUS The Prudenti
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THE PRUDENTIAL SERIES FUND Diversif
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THE PRUDENTIAL SERIES FUND Natural
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This prospectus discusses the follo
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INTRODUCTION ABOUT THE FUND AND ITS
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■ prepayment risk The Portfolio i
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■ ■ ■ ■ ■ ■ ■ ■ ■
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a representative sample of the stoc
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PRINCIPAL RISKS Although we try to
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Foreign investment risk. Investing
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Market risk. Market risk is the ris
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guaranteeing the obligation for ult
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PAST PERFORMANCE Conservative Balan
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Equity Portfolio Annual Returns (Cl
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Global Portfolio Annual Returns (Cl
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High Yield Bond Portfolio Annual Re
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Money Market Portfolio Annual Retur
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Small Capitalization Stock Portfoli
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Value Portfolio Annual Returns (Cla
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EXAMPLE The following Example, whic
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and are considered speculative. We
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can’t guarantee success, and it i
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■ ■ Repurchase agreements. The
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Government Income Portfolio The inv
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The Portfolio may also invest in ob
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unrated, of comparable quality in o
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■ Illiquid securities The Portfol
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MORE DETAILED INFORMATION ABOUT OTH
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are not backed by the full faith an
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HOW THE FUND IS MANAGED BOARD OF TR
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trading, asset management and priva
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Equity Portfolio Spiros “Sig” S
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Richard Piccirillo is Principal and
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Natural Resources Portfolio David A
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HOW TO BUY AND SELL SHARES OF THE P
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(which is generally 4:00 p.m. New Y
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DISTRIBUTOR Prudential Investment M
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FINANCIAL HIGHLIGHTS INTRODUCTION T
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Equity Portfolio Class I Year Ended
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High Yield Bond Portfolio Year Ende
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Small Capitalization Stock Portfoli
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INVESTOR INFORMATION SERVICES: Shar
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TABLE OF CONTENTS Page PER SHARE IN
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PER SHARE INVESTMENT INCOME, CAPITA
Page 89 and 90: Summary of Charges The Partnership
Page 91 and 92: Partnership. PREI's investment staf
Page 93 and 94: would be willing to commit to a fir
Page 95 and 96: The investment manager will manage
Page 97 and 98: 4. Risks with Sale-Leaseback Transa
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Page 101 and 102: correspondingly adjusted. In additi
Page 103 and 104: RESTRICTIONS ON CONTRACT OWNERS’
Page 105 and 106: During the year ended December 31,
Page 107 and 108: (2) Net investment income for the y
Page 109 and 110: The following sections discuss thos
Page 111 and 112: The table below presents the amount
Page 113 and 114: NOTES TO THE FINANCIAL STATEMENTS O
Page 119 and 120: THE PRUDENTIAL VARIABLE CONTRACT RE
Page 127 and 128: NOTES TO THE CONSOLIDATED FINANCIAL
Page 139: Report of Independent Registered Pu
Page 143 and 144: Pruco Life Insurance Company Consol
Page 145 and 146: Pruco Life Insurance Company Notes
Page 185 and 186: Many Prudential Financial companies
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The Prudential Series Fund

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