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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 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
September 30,		For The
Nine Months Ended
September 30,
2020201920202019
 (Dollars In Thousands)
Derivatives related to VA contracts:  
Interest rate futures $2,257 $727 $(3,565)$(16,575)
Equity futures (1,187)5,220 131,912 37,517 
Currency futures (9,536)9,181 1,438 11,028 
Equity options (41,584)(3,957)66,647 (97,354)
Interest rate swaps (57,657)149,766 363,644 342,561 
Total return swaps (31,465)(1,950)30,680 (50,522)
Embedded derivative - GLWB72,519 (86,635)(332,202)(189,624)
Funds withheld derivative45,787 (350)(103,494)80,198 
Total derivatives related to VA contracts(20,866)72,002 155,060 117,229 
Derivatives related to FIA contracts:  
Embedded derivative(8,642)(4,335)(38,065)(67,968)
Funds withheld derivative(2,804)— (9,586)— 
Equity futures 518 962 (6,550)964 
Equity options24,870 4,785 15,031 60,026 
Other derivatives483 — 258 — 
Total derivatives related to FIA contracts14,425 1,412 (38,912)(6,978)
Derivatives related to IUL contracts:  
Embedded derivative 15,648 6,261 1,409 (18,395)
Equity futures (230)91 (2,374)347 
Equity options6,535 586 583 9,372 
Total derivatives related to IUL contracts21,953 6,938 (382)(8,676)
Embedded derivative - Modco reinsurance treaties(25,438)(44,027)(55,864)(199,704)
Derivatives with PLC(1)
19,833 7,583 22,179 14,852 
Other derivatives5,430 (1,622)10,818 (3,011)
Total realized gains (losses) - derivatives$15,337 $42,286 $92,899 $(86,288)
(1) These derivatives include the Interest Support, 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 September 30, 2020   
Foreign currency swaps$808 $(224)$— 
Interest rate swaps1,121 (177)— 
Total$1,929 $(401)$— 
For The Nine Months Ended September 30, 2020   
Foreign currency swaps$(1,316)$(841)$— 
Interest rate swaps206 (2,231)— 
Total$(1,110)$(3,072)$— 
For The Three Months Ended September 30, 2019   
Foreign currency swaps$(4,163)$(373)$— 
Interest rate swaps(93)(373)— 
Total$(4,256)$(746)$— 
For The Nine Months Ended September 30, 2019   
Foreign currency swaps$(7,789)$(767)$— 
Interest rate swaps(2,484)(593)— 
Total$(10,273)$(1,360)$— 
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
 September 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$1,628,000 $210,420 $2,228,000 $98,655 
Total return swaps
433,231 7,018 269,772 941 
Derivatives with PLC(1)
2,618,962 133,486 2,830,889 115,379 
Embedded derivative - Modco reinsurance treaties1,269,954 83,379 1,280,189 31,926 
Embedded derivative - GLWB610,426 48,091 1,147,436 62,538 
Embedded derivative - FIA310,468 55,038 — — 
Interest rate futures700,637 4,818 896,073 7,557 
Equity futures156,317 2,063 159,901 2,109 
Currency futures161,793 1,750 72,593 131 
Equity options7,740,526 861,711 6,685,670 676,257 
 $15,630,314 $1,407,774 $15,570,523 $995,493 
Other liabilities    
Cash flow hedges:
Interest rate swaps$— $— $350,000 $— 
Foreign currency swaps117,178 18,727 117,178 11,373 
Derivatives not designated as hedging instruments:    
Interest rate swaps1,194,000 — 50,000 — 
Total return swaps418,088 7,112 579,675 3,229 
Embedded derivative - Modco reinsurance treaties2,892,930 331,836 2,263,685 231,516 
Funds withheld derivative3,810,657 145,030 1,845,649 70,583 
Embedded derivative - GLWB3,359,799 566,337 2,892,926 248,577 
Embedded derivative - FIA3,656,227 580,268 2,892,803 332,869 
Embedded derivative - IUL339,564 194,228 301,598 151,765 
Interest rate futures421,631 1,825 669,223 10,375 
Equity futures162,260 3,571 174,743 2,376 
Currency futures128,613 1,016 192,306 1,836 
Equity options5,465,007 507,408 4,827,714 429,434 
Other268,436 46,236 199,387 53,245 
 $22,234,390 $2,403,594 $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.