OPERATING SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2013

OPERATING SEGMENTS

Summary of financial information for the Company's segments

	For The						For The
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2013			2012			2013			2012
	(Dollars In Thousands)
Revenues
Life Marketing	$	346,294		$	313,170		$	1,002,522		$	938,920
Acquisitions	240,067			251,550			752,247			812,355
Annuities	170,065			140,563			435,480			460,822
Stable Value Products	25,207			26,933			91,735			96,374
Asset Protection	76,157			75,217			223,709			222,984
Corporate and Other	22,804			56,763			76,525			101,535
Total revenues	$	880,594		$	864,196		$	2,582,218		$	2,632,990
Segment Operating Income (Loss)
Life Marketing	$	28,158		$	27,885		$	75,505		$	87,678
Acquisitions	29,429			46,155			93,241			128,869
Annuities	43,825			9,041			120,260			72,864
Stable Value Products	19,206			13,050			59,514			41,654
Asset Protection	5,365			2,825			15,347			10,171
Corporate and Other	(17,856		)	(5,968		)	(45,793		)	(959		)
Total segment operating income	108,127			92,988			318,074			340,277
Realized investment (losses) gains - investments(1)	(31,968		)	120,723			(140,299		)	193,649
Realized investment (losses) gains - derivatives	37,196			(107,022		)	124,321			(169,104		)
Income tax expense	(37,107		)	(35,778		)	(98,966		)	(116,428		)
Net Income	$	76,248		$	70,911		$	203,130		$	248,394
Investment gains (losses)(2)	$	(27,949	)	$	113,977		$	(151,006	)	$	185,301
Less: amortization related to DAC/VOBA and benefits settlement expenses	4,019			(6,746		)	(10,707		)	(8,348		)
Realized investment gains (losses) in investments	$	(31,968	)	$	120,723		$	(140,299	)	$	193,649
Derivative gains (losses)(3)	$	32,212		$	(116,663	)	$	102,410		$	(194,340	)
Less: VA GMWB economic cost	(4,984		)	(9,641		)	(21,911		)	(25,236		)
Realized investment gains (losses) - derivatives	$	37,196		$	(107,022	)	$	124,321		$	(169,104	)

(1) Includes credit related other-than-temporary impairments of $8.7 million and $17.3 million for the three and nine months ended September 30, 2013, respectively, as compared to $8.5 million and $40.5 million for the three and nine months ended September 30, 2012, respectively.

(2) Includes realized investment gains (losses) before related amortization.

(3)Includes realized gains (losses) on derivatives before the VA GMWB economic cost.

	Operating Segment Assets
	As of September 30, 2013
	(Dollars In Thousands)
	Life						Stable Value
	Marketing		Acquisitions		Annuities		Products
Investments and other assets	$	12,913,177	$	11,196,504	$	19,372,420	$	2,530,150
Deferred policy acquisition costs and value of business acquired	2,030,605		597,284		526,780		1,112
Goodwill	—		33,291		—		—
Total assets	$	14,943,782	$	11,827,079	$	19,899,200	$	2,531,262

	Asset		Corporate				Total
	Protection		and Other		Adjustments		Consolidated
Investments and other assets	$	775,563	$	7,888,528	$	17,278	$	54,693,620
Deferred policy acquisition costs and value of business acquired	50,883		708		—		3,207,372
Goodwill	48,158		—		—		81,449
Total assets	$	874,604	$	7,889,236	$	17,278	$	57,982,441

	Operating Segment Assets
	As of December 31, 2012
	(Dollars In Thousands)
	Life						Stable Value
	Marketing		Acquisitions		Annuities		Products
Investments and other assets	$	12,171,384	$	11,312,550	$	17,649,488	$	2,509,160
Deferred policy acquisition costs and value of business acquired	2,001,708		679,746		491,184		1,399
Goodwill	—		35,615		—		—
Total assets	$	14,173,092	$	12,027,911	$	18,140,672	$	2,510,559

	Asset		Corporate				Total
	Protection		and Other		Adjustments		Consolidated
Investments and other assets	$	740,153	$	9,446,057	$	19,662	$	53,848,454
Deferred policy acquisition costs and value of business acquired	50,253		1,066		—		3,225,356
Goodwill	48,158		—		—		83,773
Total assets	$	838,564	$	9,447,123	$	19,662	$	57,157,583