XML 90 R74.htm IDEA: XBRL DOCUMENT v3.4.0.3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2)
1 Months Ended 2 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2015
USD ($)
Mar. 31, 2015
USD ($)
Mar. 31, 2016
USD ($)
quote
primary_source
Dec. 31, 2015
USD ($)
Dec. 31, 2014
Determination of fair values          
Number of primary sources of information used for determining fair value | primary_source     1    
Total number of primary sources of information available for determining fair value | primary_source     3    
Minimum percentage of the Company's fixed maturity securities priced by third party pricing services     90.00%    
Number of independent non-binding broker quotes obtained per security | quote     1    
Annuity account          
Annuity account balances          
Discount rate curve, base rate     LIBOR    
Embedded derivative - GMWB          
Annuity account balances          
Discount rate curve, base rate     LIBOR    
Embedded derivative - GMWB | Minimum          
Unobservable input          
Mortality (as a percent)     44.50%    
Embedded derivative - GMWB | Maximum          
Unobservable input          
Mortality (as a percent)     100.00%    
Embedded derivative - FIA          
Annuity account balances          
Discount rate curve, base rate     LIBOR    
Embedded derivative - FIA | Minimum          
Unobservable input          
Mortality (as a percent)     49.00%    
Embedded derivative - FIA | Maximum          
Unobservable input          
Mortality (as a percent)     80.00%    
Embedded derivative - IUL          
Annuity account balances          
Discount rate curve, base rate     LIBOR    
Embedded derivative - IUL | Minimum          
Unobservable input          
Mortality (as a percent)     38.00%    
Embedded derivative - IUL | Maximum          
Unobservable input          
Mortality (as a percent)     153.00%    
Successor          
Determination of fair values          
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations     100.00%    
Liabilities:          
Fair value     $ 858,429,000 $ 629,555,000  
Annuity account balances          
Financial instruments with book value approximating fair value     $ 66,700,000 66,700,000  
Successor | Annuity account          
Annuity account balances          
Equity indexed annuities, discount rate for one month (as a percent)     0.89%    
Equity indexed annuities, discount rate for five years (as a percent)     2.03%    
Equity indexed annuities, discount rate for thirty years (as a percent)     3.36%    
Successor | Level 3          
Liabilities:          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net   $ (20,050,000) $ (62,065,000)    
Annuity account balances          
Financial instruments that are valued using broker quotes     192,600,000 200,500,000  
Successor | Level 3 | Annuity account          
Liabilities:          
Fair value     90,123,000 $ 92,512,000  
Successor | Level 3 | Annuity account | Actuarial cash flow model          
Unobservable input          
Expenses per Policy     $ 80.00    
Expenses per Policy, Inflation rate     2.50%    
Withdrawal rate (as a percent)     2.20%   2.20%
Successor | Level 3 | Annuity account | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate     2.20% 2.20%  
Mortality (as a percent)       0.00%  
Nonperformance risk (as a percent)     0.26% 0.18%  
Asset earned rate (as a percent)     4.53% 4.53%  
Expenses per Policy       $ 81.00  
Return on assets (as a percent)     1.50% 1.50%  
Successor | Level 3 | Annuity account | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate     33.00% 33.00%  
Mortality (as a percent)       0.00%  
Nonperformance risk (as a percent)     1.22% 1.04%  
Asset earned rate (as a percent)     5.67% 5.67%  
Expenses per Policy       $ 0.00  
Return on assets (as a percent)     1.85% 1.85%  
Successor | Other asset-back securities | Level 2          
Determination of fair values          
Fair Value     $ 4,300,000,000    
Successor | Other asset-back securities | Level 3          
Determination of fair values          
Fair Value     $ 688,500,000    
Successor | Other asset-backed securities          
Determination of fair values          
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program (FFELP), minimum     97.00%    
Successor | Other asset-backed securities | Level 3          
Determination of fair values          
Fair Value     $ 530,374,000 $ 587,031,000  
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program (FFELP), minimum     97.00%    
Annuity account balances          
Financial instruments that are valued using broker quotes     $ 158,100,000 $ 152,900,000  
Successor | Other asset-backed securities | Level 3 | Discounted cash flow | Minimum          
Unobservable input          
Liquidity premium (as a percent)     0.06% 0.27%  
Paydown rate (as a percent)     10.55% 10.20%  
Successor | Other asset-backed securities | Level 3 | Discounted cash flow | Maximum          
Unobservable input          
Liquidity premium (as a percent)     1.10% 1.49%  
Paydown rate (as a percent)     12.15% 14.72%  
Successor | Other asset-backed securities | Level 3 | Discounted cash flow | Weighted average          
Unobservable input          
Liquidity premium (as a percent)     0.33% 0.42%  
Paydown rate (as a percent)     11.21% 13.11%  
Successor | Other asset-backed securities | Level 3 | Available-for-sale securities          
Determination of fair values          
Fair Value     $ 537,800,000    
Successor | Other asset-backed securities | Level 3 | Trading securities          
Determination of fair values          
Fair Value     150,700,000    
Successor | Corporate Bonds And Securities [Member] | Level 2          
Determination of fair values          
Fair Value     30,000,000,000    
Successor | Corporate Bonds And Securities [Member] | Level 3          
Determination of fair values          
Fair Value     839,400,000    
Successor | Embedded derivative - GMWB | Level 3          
Liabilities:          
Fair value     $ 357,463,000 $ 181,612,000  
Successor | Embedded derivative - GMWB | Level 3 | Actuarial cash flow model          
Unobservable input          
Utilization (as a percent)     99.00%    
Policies that have a one-time over-utilization rate of a specified amount (as a percent)     10.00%    
Specified level of one-time over-utilization (as a percent)     400.00%    
Successor | Embedded derivative - GMWB | Level 3 | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate     0.30% 0.30%  
Mortality (as a percent)        
Utilization (as a percent)       99.00%  
Nonperformance risk (as a percent)     0.26% 0.18%  
Successor | Embedded derivative - GMWB | Level 3 | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate     15.00% 15.00%  
Mortality (as a percent)        
Utilization (as a percent)       10.00%  
Nonperformance risk (as a percent)     1.22% 1.04%  
Successor | Equity securities          
Determination of fair values          
Fair Value     $ 69,800,000    
Federal Home Loan Bank Stock     65,700,000    
Successor | Equity securities | Level 3          
Annuity account balances          
Financial instruments that are valued using broker quotes     3,100,000 $ 3,100,000  
Successor | Corporate securities | Level 3          
Determination of fair values          
Fair Value     808,025,000 875,810,000  
Annuity account balances          
Financial instruments that are valued using broker quotes     $ 31,400,000 $ 44,500,000  
Successor | Corporate securities | Level 3 | Discounted cash flow | Minimum          
Unobservable input          
Spread over treasury (as a percent)     0.81% 0.10%  
Successor | Corporate securities | Level 3 | Discounted cash flow | Maximum          
Unobservable input          
Spread over treasury (as a percent)     22.50% 19.00%  
Successor | Corporate securities | Level 3 | Discounted cash flow | Weighted average          
Unobservable input          
Spread over treasury (as a percent)     2.67% 2.61%  
Successor | Embedded derivative - FIA | Level 3          
Liabilities:          
Fair value     $ 113,552,000 $ 100,329,000  
Successor | Embedded derivative - FIA | Level 3 | Actuarial cash flow model          
Unobservable input          
Expenses per Policy     $ 80.00    
Expenses per Policy, Inflation rate     2.50%    
Successor | Embedded derivative - FIA | Level 3 | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate     2.50%    
Nonperformance risk (as a percent)     0.26%    
Withdrawal rate (as a percent)     1.10%    
Successor | Embedded derivative - FIA | Level 3 | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate     40.00%    
Nonperformance risk (as a percent)     1.22%    
Withdrawal rate (as a percent)     4.50%    
Successor | Embedded derivative - IUL | Level 3          
Liabilities:          
Fair value     $ 37,997,000 $ 29,629,000  
Successor | Embedded derivative - IUL | Level 3 | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate     0.50%    
Mortality (as a percent)     38.00%    
Nonperformance risk (as a percent)     0.26%    
Successor | Embedded derivative - IUL | Level 3 | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate     10.00%    
Mortality (as a percent)     153.00%    
Nonperformance risk (as a percent)     1.22%    
Successor | Embedded derivative - Modified coinsurance agreements          
Liabilities:          
Statutory policy liabilities (net of policy loans)     $ 2,500,000,000    
Successor | Embedded derivative - Modified coinsurance agreements | Trading securities          
Determination of fair values          
Fair Value     $ 235,400,000    
Predecessor | Level 3          
Liabilities:          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net $ 43,205,000        
Predecessor | Embedded derivative - FIA | Level 3 | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate       2.50%  
Mortality (as a percent)       49.00%  
Nonperformance risk (as a percent)       0.18%  
Expenses per Policy       $ 81.50  
Withdrawal rate (as a percent)       1.10%  
Predecessor | Embedded derivative - FIA | Level 3 | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate       40.00%  
Mortality (as a percent)       80.00%  
Nonperformance risk (as a percent)       1.04%  
Expenses per Policy       $ 0.00  
Withdrawal rate (as a percent)       4.50%  
Predecessor | Embedded derivative - IUL | Level 3 | Actuarial cash flow model | Minimum          
Unobservable input          
Fair Value Inputs, Lapse Rate       0.50%  
Mortality (as a percent)       38.00%  
Nonperformance risk (as a percent)       0.18%  
Predecessor | Embedded derivative - IUL | Level 3 | Actuarial cash flow model | Maximum          
Unobservable input          
Fair Value Inputs, Lapse Rate       10.00%  
Mortality (as a percent)       153.00%  
Nonperformance risk (as a percent)       1.04%