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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Premiums and policy fees $ 1,009,112 $ 939,097 $ 1,905,277 $ 1,862,783
Reinsurance ceded (376,573) (352,915) (429,891) (684,432)
Net of reinsurance ceded 632,539 586,182 1,475,386 1,178,351
Net investment income 740,435 685,194 1,493,415 1,326,616
Realized gains (losses) - investments/derivatives 20,102 43,545 (18,009) 96,623
Other income 111,364 104,172 238,534 182,308
Total revenues 1,504,440 1,419,093 3,189,326 2,783,898
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2020 - $350,114 and $319,390; three and six months 2019 - $257,677 and $509,351) 1,132,174 1,003,453 2,476,336 1,976,607
Amortization of deferred policy acquisition costs and value of business acquired (18,508) 33,837 35,455 64,210
Other operating expenses, net of reinsurance ceded: (three and six months 2020 - $58,926 and $118,537; three and six months 2019 - $56,340 and $108,874) 184,933 196,080 380,221 380,631
Total benefits and expenses 1,298,599 1,233,370 2,892,012 2,421,448
Income before income tax 205,841 185,723 297,314 362,450
Income tax expense 40,736 31,309 58,244 65,938
Net income $ 165,105 $ 154,414 $ 239,070 $ 296,512