XML 208 R136.htm IDEA: XBRL DOCUMENT v3.25.4
Business Segments - Schedule of Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Premium $ 4,890,220 $ 4,666,272 $ 4,456,017
Net investment income 1,130,198 1,135,631 1,056,884
Segment revenue 6,020,418 5,801,903 5,512,901
Realized gains (losses) (27,788) (24,188) (65,676)
Other income 1,688 354 308
Total revenue 5,994,318 5,778,069 5,447,533
Expenses:      
Policy obligations 2,878,485 2,873,523 2,836,212
Required interest on reserves 9,683 28,769 38,224
Amortization of acquisition costs 446,347 408,447 378,024
Commissions 347,519 318,572 295,870
Premium taxes 97,957 96,781 91,011
Non-deferred acquisition costs 202,545 186,387 172,269
Segment profit or (loss) 2,037,882 1,889,424 1,701,291
Insurance administrative expenses:      
Salaries 137,015 129,369 119,699
Other employee costs 41,609 36,176 35,905
Information technology costs 82,573 80,555 64,998
Legal costs 22,510 30,478 15,335
Other administrative costs 71,888 65,852 65,224
Parent expense 14,182 12,400 10,866
Stock-based compensation expense 53,355 40,118 30,736
Interest expense 141,221 127,092 102,316
Legal proceedings 17,053 21,575 900
Other expenses 2,183 2,620 4,170
Annuity (7,782) (7,282) (8,492)
Total expenses 4,558,343 4,451,432 4,253,267
Income before income taxes 1,435,975 1,326,637 1,194,266
Life      
Revenue:      
Premium 3,363,470 3,261,347 3,137,244
Net investment income 0 0 0
Segment revenue 3,363,470 3,261,347 3,137,244
Expenses:      
Policy obligations 1,924,929 2,000,977 2,050,789
Required interest on reserves (845,875) (811,147) (772,701)
Amortization of acquisition costs 386,450 356,223 327,426
Commissions 174,029 159,703 145,678
Premium taxes 68,132 68,360 64,571
Non-deferred acquisition costs 146,444 134,634 128,509
Segment profit or (loss) 1,509,361 1,352,597 1,192,972
Health      
Revenue:      
Premium 1,526,750 1,404,925 1,318,773
Net investment income 0 0 0
Segment revenue 1,526,750 1,404,925 1,318,773
Expenses:      
Policy obligations 931,141 851,577 776,362
Required interest on reserves (113,832) (110,342) (106,516)
Amortization of acquisition costs 59,897 52,224 50,598
Commissions 173,490 158,869 150,192
Premium taxes 29,825 28,421 26,440
Non-deferred acquisition costs 56,101 51,753 43,760
Segment profit or (loss) 390,128 372,423 377,937
Investment      
Revenue:      
Premium 0 0 0
Net investment income 1,130,198 1,135,631 1,056,884
Segment revenue 1,130,198 1,135,631 1,056,884
Expenses:      
Policy obligations 22,415 20,969 9,061
Required interest on reserves 969,390 950,258 917,441
Amortization of acquisition costs 0 0 0
Commissions 0 0 0
Premium taxes 0 0 0
Non-deferred acquisition costs 0 0 0
Segment profit or (loss) $ 138,393 $ 164,404 $ 130,382