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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Valuation of our Financial Instruments Measured on a Recurring Basis by Hierarchy Levels
 
 
 
December 31, 2019
 
Quoted prices in active markets
 for identical assets (Level 1)
 
Significant other observable
 inputs (Level 2)
 
Significant unobservable
 inputs (Level 3)
 
Fair Value
 
(Dollars in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
Corporate securities
$
—

 
$
3,772,362

 
$
6,588

 
$
3,778,950

Residential mortgage-backed securities
—

 
672,388

 
—

 
672,388

Commercial mortgage-backed securities
—

 
1,032,693

 
12,780

 
1,045,473

Other asset-backed securities
—

 
704,766

 
9,755

 
714,521

United States Government and agencies
4,821

 
9,302

 
—

 
14,123

States and political subdivisions
—

 
1,477,173

 
—

 
1,477,173

Total fixed maturities
4,821

 
7,668,684

 
29,123

 
7,702,628

Non-redeemable preferred stocks
—

 
67,873

 
6,927

 
74,800

Common stocks (1)
17,027

 
—

 
—

 
17,027

Other investments
—

 
31,469

 
—

 
31,469

Cash, cash equivalents and short-term investments
29,142

 
—

 
—

 
29,142

Reinsurance recoverable
—

 
2,327

 
—

 
2,327

Assets held in separate accounts
645,881

 
—

 
—

 
645,881

Total assets
$
696,871

 
$
7,770,353

 
$
36,050

 
$
8,503,274

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
—

 
$
—

 
$
76,346

 
$
76,346

Other liabilities
—

 
254

 
—

 
254

Total liabilities
$
—

 
$
254

 
$
76,346

 
$
76,600



Valuation of our Financial Instruments Measured on a Recurring Basis by Hierarchy Levels
 
 
 
 
 
 
 
 
 
December 31, 2018
 
Quoted prices in active markets
 for identical assets (Level 1)
 
Significant other observable
 inputs (Level 2)
 
Significant unobservable
 inputs (Level 3)
 
Fair Value
 
(Dollars in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
Corporate securities
$
—

 
$
3,257,874

 
$
22,011

 
$
3,279,885

Residential mortgage-backed securities
—

 
606,860

 
—

 
606,860

Commercial mortgage-backed securities
—

 
810,626

 
67,940

 
878,566

Other asset-backed securities
—

 
703,969

 
3,601

 
707,570

United States Government and agencies
7,917

 
12,618

 
—

 
20,535

States and political subdivisions
—

 
1,539,629

 
—

 
1,539,629

Total fixed maturities
7,917

 
6,931,576

 
93,552

 
7,033,045

Non-redeemable preferred stocks
—

 
77,433

 
6,862

 
84,295

Common stocks (1)
5,261

 
—

 
—

 
5,261

Other investments
—

 
4,745

 
—

 
4,745

Cash, cash equivalents and short-term investments
34,748

 
—

 
—

 
34,748

Reinsurance recoverable
—

 
157

 
—

 
157

Assets held in separate accounts
561,281

 
—

 
—

 
561,281

Total assets
$
609,207

 
$
7,013,911

 
$
100,414

 
$
7,723,532

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
—

 
$
—

 
$
40,028

 
$
40,028

Other liabilities
—

 
780

 
—

 
780

Total liabilities
$
—

 
$
780

 
$
40,028

 
$
40,808



(1)
A private equity fund with a fair value estimate of $8.4 million at December 31, 2019 and $3.3 million at December 31, 2018 using net asset value per share as a practical expedient, has not been classified in the fair value hierarchy above in accordance with fair value reporting guidance. This fund invests in senior secured middle market loans and had unfunded commitments totaling $1.7 million at December 31, 2019 and $6.8 million at December 31, 2018. The investment is not currently eligible for redemption.
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
Level 3 Assets by Valuation Source - Recurring Basis
 
 
 
December 31, 2019
 
Third-party vendors
 
Priced
internally
 
Fair Value
 
(Dollars in thousands)
Corporate securities
$
—

 
$
6,588

 
$
6,588

Commercial mortgage-backed securities
12,780

 
—

 
12,780

Other asset-backed securities
8,000

 
1,755

 
9,755

Non-redeemable preferred stocks
—

 
6,927

 
6,927

Total level 3 assets
$
20,780

 
$
15,270

 
$
36,050

Percent of total
57.6
%
 
42.4
%
 
100.0
%
Level 3 Assets by Valuation Source - Recurring Basis
 
 
 
 
 
 
 
December 31, 2018
 
Third-party vendors
 
Priced
internally
 
Fair Value
 
(Dollars in thousands)
Corporate securities
$
1,940

 
$
20,071

 
$
22,011

Commercial mortgage-backed securities
67,940

 
—

 
67,940

Other asset-backed securities
—

 
3,601

 
3,601

Non-redeemable preferred stocks
—

 
6,862

 
6,862

Total level 3 assets
$
69,880

 
$
30,534

 
$
100,414

Percent of total
69.6
%
 
30.4
%
 
100.0
%
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]
Quantitative Information about Level 3 Fair Value Measurements - Recurring Basis
 
 
 
December 31, 2019
 
Fair Value
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average)
 
(Dollars in thousands)
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Corporate securities
$
6,588

 
Discounted cash flow
 
Credit spread
 
2.11% - 5.85% (4.33%)
Commercial mortgage-backed securities
12,780

 
Discounted cash flow
 
Credit spread
 
1.18% - 2.22% (1.92%)
Other asset-backed securities
6,000

 
Discounted cash flow
 
Credit spread
 
2.15% - 2.30% (2.23%)
Non-redeemable preferred stocks
6,927

 
Discounted cash flow
 
Credit spread
 
2.72% (2.72%)
Total assets
$
32,295

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
76,346

 
Discounted cash flow
 
Credit risk
Risk margin
 
0.40% - 1.35% (0.80%)
0.15% - 0.40% (0.25%)

 
December 31, 2018
 
Fair Value
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average)
 
(Dollars in thousands)
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Corporate securities
$
19,178

 
Discounted cash flow
 
Credit spread
 
1.23% - 7.00% (4.01%)
Commercial mortgage-backed securities
55,866

 
Discounted cash flow
 
Credit spread
 
1.45% - 3.55% (2.58%)
Non-redeemable preferred stocks
6,862

 
Discounted cash flow
 
Credit spread
 
4.36% (4.36%)
Total assets
$
81,906

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
40,028

 
Discounted cash flow
 
Credit risk
Risk margin
 
0.55% - 1.80% (1.25%)
0.15% - 0.40% (0.25%)
Level 3 Financial Instruments Changes in Fair Value [Table Text Block]
Level 3 Financial Instruments Changes in Fair Value - Recurring Basis
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2019
 
 
 
 
 
 
 
Realized and unrealized gains (losses), net
 
 
 
 
 
 
 
 
 
Balance, December 31, 2018
 
Purchases
 
Disposals
 
Included in net income
 
Included in other compre-hensive income
 
Transfers into
Level 3 (1)
 
Transfers
out of
Level 3 (1)
 
Amort-ization included in net income
 
Balance, December 31, 2019
 
(Dollars in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate securities
$
22,011

 
$
6,000

 
$
(3,344
)
 
$
—

 
$
443

 
$
3,643

 
$
(22,137
)
 
$
(28
)
 
$
6,588

Residential mortgage-backed securities
—

 
18,378

 
—

 
—

 
—

 
—

 
(18,378
)
 
—

 
—

Commercial mortgage-backed securities
67,940

 
7,540

 
(376
)
 
—

 
578

 
—

 
(62,902
)
 
—

 
12,780

Other asset-backed securities
3,601

 
28,710

 
(977
)
 
—

 
(869
)
 
—

 
(20,710
)
 
—

 
9,755

Non-redeemable preferred stocks
6,862

 
—

 
—

 
—

 
65

 
—

 
—

 
—

 
6,927

Total assets
$
100,414

 
$
60,628

 
$
(4,697
)
 
$
—

 
$
217

 
$
3,643

 
$
(124,127
)
 
$
(28
)
 
$
36,050

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
40,028

 
$
15,325

 
$
(7,014
)
 
$
28,007

 
$
—

 
$
—

 
$
—

 
$
—

 
$
76,346


 
December 31, 2018
 
 
 
 
 
 
 
Realized and unrealized gains (losses), net
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
Purchases
 
Disposals
 
Included in net income
 
Included in other compre-hensive income
 

Transfers into
Level 3 (1)
 
Transfers
out of
Level 3 (1)
 
Amort-ization included in net income
 
Balance, December 31, 2018
 
(Dollars in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate securities
$
33,600

 
$
—

 
$
(9,432
)
 
$
—

 
$
(974
)
 
$
7,082

 
$
(8,530
)
 
$
265

 
$
22,011

Residential mortgage-backed securities
9,124

 
27,818

 
—

 
—

 
—

 
—

 
(36,942
)
 
—

 
—

Commercial mortgage-backed securities
85,701

 
36,008

 
(1,337
)
 
—

 
(3,599
)
 
—

 
(48,787
)
 
(46
)
 
67,940

Other asset-backed securities
53,480

 
28,855

 
(2,799
)
 
—

 
(12
)
 
—

 
(75,923
)
 
—

 
3,601

Non-redeemable preferred stocks
7,407

 
—

 
—

 
(545
)
 
—

 
—

 
—

 
—

 
6,862

Total assets
$
189,312

 
$
92,681

 
$
(13,568
)
 
$
(545
)
 
$
(4,585
)
 
$
7,082

 
$
(170,182
)
 
$
219

 
$
100,414

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits - indexed product embedded derivatives
$
27,774

 
$
11,514

 
$
(4,447
)
 
$
5,187

 
$
—

 
$
—

 
$
—

 
$
—

 
$
40,028


(1)
Transfers into Level 3 represent assets previously priced using an external pricing service with access to observable inputs no longer available and therefore, were priced using non-binding broker quotes. Transfers out of Level 3 include those assets that we are now able to obtain pricing from a third-party pricing vendor that uses observable inputs. The fair values of newly issued securities often require additional estimation until a market is created, which is generally within a few months after issuance. Once a market is created, as was the case for the majority of the security transfers out of the Level 3 category above, Level 2 valuation sources become available.
Financial Instruments Not Reported at Value [Table Text Block]
Valuation of our Financial Instruments Not Reported at Fair Value by Hierarchy Levels
 
 
 
 
 
 
 
December 31, 2019
 
 
 
Quoted prices in active markets
for identical assets (Level 1)
 
Significant other observable inputs
(Level 2)
 
Significant unobservable inputs
(Level 3)
 
Fair Value
 
Carrying Value
 
(Dollars in thousands)
 
 
Assets
 
 
 
 
 
 
 
 
 
Mortgage loans
$
—

 
$
—

 
$
1,059,073

 
$
1,059,073

 
$
1,011,678

Policy loans
—

 
—

 
256,787

 
256,787

 
201,589

Other investments
—

 
29,534

 
2,215

 
31,749

 
31,211

Total assets
$
—

 
$
29,534

 
$
1,318,075

 
$
1,347,609

 
$
1,244,478

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Future policy benefits
$
—

 
$
—

 
$
4,381,863

 
$
4,381,863

 
$
4,270,073

Supplementary contracts without life contingencies
—

 
—

 
309,601

 
309,601

 
296,915

Advance premiums and other deposits
—

 
—

 
245,480

 
245,480

 
245,480

Long-term debt
—

 
—

 
84,438

 
84,438

 
97,000

Liabilities related to separate accounts
—

 
—

 
644,691

 
644,691

 
645,881

Total liabilities
$
—

 
$
—

 
$
5,666,073

 
$
5,666,073

 
$
5,555,349



 
December 31, 2018
 
 
 
Quoted prices in active markets
for identical assets (Level 1)
 
Significant other observable inputs
(Level 2)
 
Significant unobservable inputs
(Level 3)
 
Fair Value
 
Carrying Value
 
(Dollars in thousands)
 
 
Assets
 
 
 
 
 
 
 
 
 
Mortgage loans
$
—

 
$
—

 
$
1,045,497

 
$
1,045,497

 
$
1,039,829

Policy loans
—

 
—

 
237,496

 
237,496

 
197,366

Other investments
—

 
—

 
30,087

 
30,087

 
29,020

Total assets
$
—

 
$
—

 
$
1,313,080

 
$
1,313,080

 
$
1,266,215

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Future policy benefits
$
—

 
$
—

 
$
3,981,947

 
$
3,981,947

 
$
4,217,904

Supplementary contracts without life contingencies
—

 
—

 
298,869

 
298,869

 
303,627

Advance premiums and other deposits
—

 
—

 
252,318

 
252,318

 
252,318

Long-term debt
—

 
—

 
65,999

 
65,999

 
97,000

Liabilities related to separate accounts
—

 
—

 
559,799

 
559,799

 
561,281

Total liabilities
$
—

 
$
—

 
$
5,158,932

 
$
5,158,932

 
$
5,432,130