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Condensed Consolidated Statements of Earnings (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Premiums and other revenues:        
Universal life and annuity contract charges $ 40,303 $ 37,840 $ 112,478 $ 112,703
Traditional life premiums 22,693 24,099 68,956 65,492
Net investment income (loss) 129,679 108,456 261,894 388,211
Other revenues 3,977 3,273 15,217 13,652
Net realized investment gains (losses):        
Total other-than-temporary impairment (“OTTI”) gains (losses) 1 (1,943) 5 (7,840)
Portion of OTTI (gains) losses recognized in other comprehensive income (1) (2) (5) (7)
Net OTTI losses recognized in earnings 0 (1,945) 0 (7,847)
Other net investment gains (losses) 6,050 1,443 12,660 11,549
Realized gains (losses) on investments 6,050 (502) 12,660 3,702
Total revenues 202,702 173,166 471,205 583,760
Benefits and expenses:        
Life and other policy benefits 26,940 39,918 94,005 101,764
Amortization of deferred policy acquisition costs and value of business acquired 50,800 22,998 111,937 86,573
Universal life and annuity contract interest 85,879 59,445 119,625 200,500
Other operating expenses 25,754 25,813 74,730 77,196
Total benefits and expenses 189,373 148,174 400,297 466,033
Earnings before Federal income taxes 13,329 24,992 70,908 117,727
Federal income taxes 2,504 5,003 13,732 23,844
Net earnings 10,825 19,989 57,176 93,883
Class A        
Benefits and expenses:        
Net earnings $ 10,519 $ 19,424 $ 55,560 $ 91,228
Basic earnings per share:        
Basic earnings per share (in dollars per share) $ 3.06 $ 5.65 $ 16.17 $ 26.55
Diluted earnings per share:        
Diluted earnings per share (in dollars per share) $ 3.06 $ 5.65 $ 16.17 $ 26.55
Class B        
Benefits and expenses:        
Net earnings $ 306 $ 565 $ 1,616 $ 2,655
Basic earnings per share:        
Basic earnings per share (in dollars per share) $ 1.53 $ 2.83 $ 8.08 $ 13.28
Diluted earnings per share:        
Diluted earnings per share (in dollars per share) $ 1.53 $ 2.83 $ 8.08 $ 13.28