Derivative Investments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative instruments

The tables below present the fair value of derivative instruments as of September 30, 2020 and December 31, 2019, respectively.

	September 30, 2020
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	93,367
Fixed-index products				Universal Life and Annuity Contracts	$	116,802
Total		$	93,367		$	116,802

	December 31, 2019
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	157,588
Fixed-index products				Universal Life and Annuity Contracts	$	155,902
Total		$	157,588		$	155,902

Schedule of derivative instruments in the condensed consolidated statements of earnings

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings (Loss) for the three months ended September 30, 2020 and 2019.

		September 30, 2020		September 30, 2019
Derivatives Not Designated As Hedging Instruments	Location of Gain or (Loss) Recognized In Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		(In thousands)
Equity index options	Net investment income (loss)	$	31,520	3,296
Fixed-index products	Universal life and annuity contract interest	(34,119)		3,533
		$	(2,599)	6,829

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings (Loss) for the nine months ended September 30, 2020 and 2019.

		September 30, 2020		September 30, 2019
Derivatives Not Designated As Hedging Instruments	Location of Gain or (Loss) Recognized In Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		(In thousands)
Equity index options	Net investment income	$	(34,865)	63,127
Fixed-index products	Universal life and annuity contract interest	9,744		(36,937)
		$	(25,121)	26,190