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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Investments:    
Fixed-maturity securities and Short-term investments available-for-sale, at fair value $ 2,538,197 $ 2,464,611
Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,516,401 in 2021 and $1,606,208 in 2020) 1,362,210 1,346,350
Short-term investments available-for-sale, at fair value (amortized cost: $50,759 in 2021 and $0 in 2020) 50,758  
Equity securities, at fair value (historical cost: $32,239 in 2021 and $32,031 in 2020) 39,638 38,023
Trading securities, at fair value (cost: $35,179 in 2021 and $16,359 in 2020) 35,046 16,300
Policy loans 30,278 30,199
Total investments 4,056,127 3,895,483
Cash and cash equivalents 439,944 547,569
Accrued investment income 19,964 17,618
Reinsurance recoverables 4,345,483 4,273,904
Deferred policy acquisition costs, net 2,712,169 2,629,644
Agent balances, due premiums and other receivables 268,660 259,448
Intangible assets 45,275 45,275
Income taxes 74,683 73,290
Operating lease right-of-use assets 45,318 46,567
Other assets 467,336 456,967
Separate account assets 2,638,901 2,659,520
Total assets 15,113,860 14,905,285
Liabilities:    
Future policy benefits 6,885,115 6,790,557
Unearned and advance premiums 18,184 17,136
Policy claims and other benefits payable 526,654 519,711
Other policyholders’ funds 475,511 447,765
Notes payable 374,511 374,415
Surplus note 1,361,648 1,345,772
Income taxes 235,234 223,496
Operating lease liabilities 51,521 52,806
Other liabilities 582,198 566,068
Payable under securities lending 87,190 72,154
Separate account liabilities 2,638,901 2,659,520
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities 13,236,667 13,069,400
Stockholders’ equity:    
Common stock ($0.01 par value; authorized 500,000 shares in 2021 and 2020; issued and outstanding 39,414 shares in 2021 and 39,306 shares in 2020) 394 393
Paid-in capital 8,138  
Retained earnings 1,785,038 1,705,786
Accumulated other comprehensive income (loss), net of income tax:    
Unrealized foreign currency translation gains (losses) 6,570 1,578
Net unrealized investment gains (losses) on available-for-sale securities 77,053 128,128
Total stockholders’ equity 1,877,193 1,835,885
Total liabilities and stockholders’ equity $ 15,113,860 $ 14,905,285