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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Realized Investments Gains and Losses
The following table sets forth realized gains (losses) - derivatives for the periods shown:
Realized gains (losses) - derivative financial instruments
For The
Three Months Ended
June 30,		For The
Six Months Ended
June 30,
2020201920202019
 (Dollars In Thousands)
Derivatives related to VA contracts:  
Interest rate futures $(6,680) $(11,280) $(5,822) $(17,302) 
Equity futures 102,447  2,559  133,099  32,297  
Currency futures (1,188) (397) 10,974  1,847  
Equity options (172,248) (21,702) 108,231  (93,397) 
Interest rate swaps 11,786  117,934  421,301  192,795  
Total return swaps (77,622) (8,545) 62,145  (48,572) 
Embedded derivative - GLWB5,859  (69,602) (404,721) (102,989) 
Funds withheld derivative112,133  18,771  (149,281) 80,548  
Total derivatives related to VA contracts(25,513) 27,738  175,926  45,227  
Derivatives related to FIA contracts:  
Embedded derivative(68,310) (24,819) (29,423) (63,633) 
Funds withheld derivative(6,782) —  (6,782) —  
Equity futures 1,084  431  (7,068) 2  
Equity options50,546  13,191  (9,839) 55,241  
Other derivatives(425) —  (225) —  
Total derivatives related to FIA contracts(23,887) (11,197) (53,337) (8,390) 
Derivatives related to IUL contracts:  
Embedded derivative (14,277) (11,286) (14,239) (24,656) 
Equity futures 295  85  (2,144) 256  
Equity options8,497  2,606  (5,952) 8,786  
Total derivatives related to IUL contracts(5,485) (8,595) (22,335) (15,614) 
Embedded derivative - Modco reinsurance treaties(106,155) (70,679) (30,426) (155,677) 
Derivatives with PLC(1)
4,294  8,922  2,346  7,269  
Other derivatives(3,832) (1,455) 5,388  (1,389) 
Total realized gains (losses) - derivatives$(160,578) $(55,266) $77,562  $(128,574) 
(1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
Components of the Gain or Loss on Derivatives that Quality as a Cash Flow Hedging Relationship
The following table presents the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship.
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses)
Deferred in
Accumulated Other
Comprehensive Income
(Loss) on Derivatives		Amount and Location of
Gains (Losses)
Reclassified from
Accumulated Other
Comprehensive Income
(Loss) into Income (Loss)		Amount and Location of
Gains (Losses) Recognized in
Income (Loss) on
Derivatives
 (Effective Portion)(Effective Portion)(Ineffective Portion)
Benefits and settlement
expenses		Realized gains (losses) - investments/derivatives
 (Dollars In Thousands)
For The Three Months Ended June 30, 2020   
Foreign currency swaps$3,371  $(222) $—  
Interest rate swaps(541) (1,245) —  
Total$2,830  $(1,467) $—  
For The Six Months Ended June 30, 2020   
Foreign currency swaps$(2,124) $(616) $—  
Interest rate swaps(915) (2,055) —  
Total$(3,039) $(2,671) $—  
For The Three Months Ended June 30, 2019   
Foreign currency swaps$(1,733) $(188) $—  
Interest rate swaps(1,796) (148) —  
Total$(3,529) $(336) $—  
For The Six Months Ended June 30, 2019   
Foreign currency swaps$(3,626) $(394) $—  
Interest rate swaps(2,391) (220) —  
Total$(6,017) $(614) $—  
Schedule of Information About the Nature and Accounting Treatment of the Company's Primary Derivative Financial Instruments and the Location in and Effect on the Consolidated Financial Statements
The table below presents information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated condensed financial statements for the periods presented below:
As of
 June 30, 2020December 31, 2019
Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
 (Dollars In Thousands)
Other long-term investments    
Derivatives not designated as hedging instruments:    
Interest rate swaps$2,428,000  $225,231  $2,228,000  $98,655  
Total return swaps
562,607  4,460  269,772  941  
Derivatives with PLC(1)
2,653,006  113,653  2,830,889  115,379  
Embedded derivative - Modco reinsurance treaties1,281,470  64,758  1,280,189  31,926  
Embedded derivative - GLWB543,139  45,636  1,147,436  62,538  
Embedded derivative - FIA286,778  51,860  —  —  
Interest rate futures221,804  641  896,073  7,557  
Equity futures119,794  1,368  159,901  2,109  
Currency futures261,473  3,850  72,593  131  
Equity options7,379,220  661,507  6,685,670  676,257  
 $15,737,291  $1,172,964  $15,570,523  $995,493  
Other liabilities    
Cash flow hedges:
Interest rate swaps$350,000  $—  $350,000  $—  
Foreign currency swaps117,178  22,879  117,178  11,373  
Derivatives not designated as hedging instruments:    
Interest rate swaps250,000  —  50,000  —  
Total return swaps194,504  2,938  579,675  3,229  
Embedded derivative - Modco reinsurance treaties2,815,598  289,709  2,263,685  231,516  
Funds withheld derivative3,062,874  159,370  1,845,649  70,583  
Embedded derivative - GLWB3,414,058  636,398  2,892,926  248,577  
Embedded derivative - FIA3,256,264  497,336  2,892,803  332,869  
Embedded derivative - IUL324,832  196,655  301,598  151,765  
Interest rate futures1,034,796  1,960  669,223  10,375  
Equity futures121,162  2,016  174,743  2,376  
Currency futures—  —  192,306  1,836  
Equity options5,249,748  302,348  4,827,714  429,434  
Other250,726  44,153  199,387  53,245  
 $20,441,740  $2,155,762  $17,356,887  $1,547,178  
(1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.