DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The major assets and liability categories were as follows as of the dates indicated:

Discontinued Operations
Balance Sheets
	December 31,
(In Thousands, Except Share Data)	2017		2016
Assets
Investments
Fixed maturities
Held-to-maturity, at amortized cost (fair value $34 in 2017 and $49 in 2016)	$	34	$	48
Available-for-sale, at fair value (amortized cost $1,412,291 in 2017 and $1,429,270 in 2016)	1,430,025		1,444,840
Equity Securities available-for-sale, at fair value (cost $5,099 in 2017 and $8,510 in 2016)	23,653		24,046
Mortgage loans	3,435		3,706
Policy loans	5,815		5,366
Other long-term investments	16,437		15,870
	1,479,399		1,493,876
Cash and cash equivalents	15,851		21,659
Deferred policy acquisition costs	71,151		70,750
Other assets	19,733		19,333
Total assets held for sale	$	1,586,134	$	1,605,618
Liabilities
Future policy benefits and losses	$	1,320,401	$	1,350,503
Deferred income taxes	18,716		27,739
Accrued expenses and other liabilities	8,018		11,981
Total liabilities held for sale	$	1,347,135	$	1,390,223

Summary operating results of discontinued operations were as follows for the periods indicated:

Discontinued Operations
Statements of Income
	For the Years Ended December 31,
(In Thousands, Except Share Data)	2017		2016		2015
Revenues
Net premiums earned	$	61,368	$	87,270	$	79,195
Investment income, net of investment expenses	49,720		51,538		54,222
Net realized investment gains (losses)
Other-than-temporary impairment charges	—		—		(1,300		)
Net realized investment gains	4,008		1,156		3,022
Total net realized investment gains	4,008		1,156		1,722
Other income	617		621		508
Total revenues	$	115,713	$	140,585	$	135,647
Benefits, Losses and Expenses
Losses and loss settlement expenses	$	40,451	$	31,365	$	29,001
Increase in liability for future policy benefits	27,632		59,969		50,945
Amortization of deferred policy acquisition costs	5,181		8,121		6,634
Other underwriting expenses	13,281		19,881		19,306
Interest on policyholders’ accounts	18,525		20,079		23,680
Total benefits, losses and expenses	$	105,070	$	139,415	$	129,566
Income from discontinued operations before income taxes	$	10,643	$	1,170	$	6,081
Federal income tax expense	4,490		384		2,275
Net income from discontinued operations	$	6,153	$	786	$	3,806
Earnings per common share from discontinued operations:
Basic	$	0.24	$	0.03	$	0.15
Diluted	0.24		0.03		0.15