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Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Schedule of fair value of net assets acquired The following table presents the fair values of the net assets acquired as of January 31, 2019.
January 31, 2019
Fair value
Assets(In thousands)
Debt securities held to maturity$261,059 
Debt securities available for sale400,719 
Policy loans28,128 
Real estate4,600 
Cash and cash equivalents16,275 
Accrued investment income6,116 
Value of business acquired145,768 
Reinsurance recoverables21,895 
Other intangible assets9,600 
Other assets acquired12,075 
Total assets acquired906,235 
Liabilities
Traditional life reserves691,297 
Other policyholder liabilities13,867 
Other liabilities acquired5,840 
711,004 
Net identifiable assets acquired195,231 
Goodwill13,864 
Net assets acquired$209,095 
Schedule of fair value of identifiable intangible assets acquired
The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019:

Fair ValueWeighted-Average Amortization Period
(In thousands)
Trademarks / trade names$2,800 15
Internally developed software3,800 7
Insurance licenses3,000 NA
$9,600 
The gross carrying amounts and accumulated amortization for each specifically identifiable intangible asset were as follows.

September 30, 2020December 31, 2019
Weighted-Average Amortization PeriodGross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
(In thousands)
Trademarks/trade names15$2,800 (311)2,800 (171)
Internally developed software73,800 (905)3,800 (498)
Insurance licensesN/A3,000 — 3,000 — 
$9,600 (1,216)9,600 (669)
Schedule of changes in VOBA Changes in VOBA were as follows for the periods shown:
 September 30,December 31,
 20202019
(In thousands)
Balance, beginning of year$138,071 — 
Business acquired— 145,768 
Amortization:
Amortization, excluding unlocking(5,645)(7,697)
Balance as of end of period$132,426 138,071 
Schedule of expected amortization of VOBA
Estimated future amortization of VOBA, net of interest (in thousands), as of September 30, 2020, is as follows:

Expected Amortization
(In thousands)
Remainder of 2020$1,844 
2021$7,002 
2022$6,646 
2023$6,337 
2024$6,060 
Schedule of changes in carrying amount of goodwill
The changes in the carrying amount of goodwill (in thousands) were as follows:

 September 30,December 31,
 20202019
 (In thousands)
Gross goodwill as of beginning of year$13,864 — 
Goodwill resulting from business acquisition— 13,864 
Gross goodwill, before impairments13,864 13,864 
Accumulated impairment as of beginning of year— — 
Current year impairments— — 
Net goodwill as of end of period$13,864 13,864 
Schedule of pro forma total revenues and net earnings
The following unaudited comparative pro forma total revenues and net earnings represent Condensed Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS by the Company been effective January 1, 2018.

Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands)
Total revenues$202,702 173,166 471,205 593,402 
Net earnings (loss)$10,825 19,989 57,176 95,341 

The pro forma amounts shown above include the estimated total revenues and net earnings of the acquired businesses for each period incorporating amortization of identifiable intangible assets acquired and fair value adjustments to acquired invested assets and traditional life insurance reserves.