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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $3,033,914 in 2024 and $2,935,212 in 2023) $ 2,796,030 $ 2,719,467
Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,268,174 in 2024 and $1,334,892 in 2023) 1,353,370 1,386,980
Short-term investments available-for-sale, at fair value (amortized cost: $276 in 2023) 0 276
Equity securities, at fair value (historical cost: $22,828 in 2024 and $27,106 in 2023) 26,026 29,680
Trading securities, at fair value (cost: $3,719 in 2024 and $18,761 in 2023) 3,158 18,383
Policy loans and other invested assets 49,791 51,175
Total investments 4,228,375 4,205,961
Cash and cash equivalents 627,292 613,148
Accrued investment income 25,687 23,958
Reinsurance recoverables 2,833,055 3,015,777
Deferred policy acquisition costs, net 3,566,126 3,447,234
Renewal commissions receivable 171,022 190,258
Agent balances, due premiums and other receivables 288,766 273,066
Goodwill 0 127,707
Intangible assets, net (accumulated amortization: $0 in 2024 and $26,250 in 2023) 45,275 175,025
Income taxes 118,379 123,514
Operating lease right-of-use assets 50,646 53,693
Other assets 357,115 382,549
Separate account assets 2,253,966 2,395,842
Total assets 14,565,704 15,027,732
Liabilities:    
Future policy benefits 6,436,332 6,742,025
Unearned and advance premiums 17,076 14,876
Policy claims and other benefits payable 478,773 513,803
Other policyholders’ funds 412,570 435,094
Note payable 594,110 593,709
Surplus note 1,353,014 1,386,592
Income taxes 135,049 135,247
Total lease liabilities 58,756 61,358
Other liabilities 613,303 583,434
Payable under securities lending 90,995 99,785
Separate account liabilities 2,253,966 2,395,842
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities 12,443,944 12,961,765
Stockholders' equity:    
Common stock ($0.01 par value; authorized 500,000 shares in 2024 and 2023; issued and outstanding 33,994 shares in 2024 and 34,996 shares in 2023) 340 350
Retained earnings 2,122,832 2,276,946
Accumulated other comprehensive income (loss), net of income tax:    
Effect of change in discount rate assumptions on the liability for future policy benefits 201,441 (39,086)
Unrealized foreign currency translation gains (losses) (15,507) (2,235)
Net unrealized investment gains (losses) on available-for-sale securities (187,346) (170,008)
Total stockholders' equity 2,121,760 2,065,967
Total liabilities and stockholders' equity $ 14,565,704 $ 15,027,732