DEBT AND OTHER OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Summary of Debt and Subordinated Debt Securities

Debt and subordinated debt securities are summarized as follows:

	Successor Company
	As of June 30, 2016		As of December 31, 2015
	(Dollars In Thousands)
Debt (year of issue):
Revolving Line of Credit	$	360,000	$	485,000
6.40% Senior Notes (2007), due 2018	159,684		162,671
7.375% Senior Notes (2009), due 2019	463,962		473,127
8.45% Senior Notes (2009), due 2039	413,590		468,008
	$	1,397,236	$	1,588,806
Subordinated debt securities (year of issue):
6.25% Subordinated Debentures (2012), due 2042, callable 2017	$	292,947	$	295,833
6.00% Subordinated Debentures (2012), due 2042, callable 2017	152,076		152,930
	$	445,023	$	448,763

Non-recourse Funding Obligations Outstanding

Non-recourse funding obligations outstanding as of June 30, 2016 (Successor Company), on a consolidated basis, are shown in the following table:

			Maturity	Year-to-Date Weighted-Avg
Issuer	Carrying Value(1)		Year	Interest Rate
	(Dollars In Thousands)
Golden Gate Captive Insurance Company(2)(3)	$	2,153,000	2039	4.75	%
Golden Gate II Captive Insurance Company	109,050		2052	1.44	%
Golden Gate V Vermont Captive Insurance Company(2)(3)	598,863		2037	5.12	%
MONY Life Insurance Company(3)	2,496		2024	6.19	%
Total	$	2,863,409

(1) Carrying values include premiums and discounts and do not represent unpaid principal balances.

(2) Obligations are issued to non-consolidated subsidiaries of the Company. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of PLICO.

(3) Fixed rate obligations

Schedule of Collateral Pledged for Repurchase Agreements

The following table provides the amount of collateral pledged for repurchase agreements, grouped by asset class, as of June 30, 2016 (Successor Company):

Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions

Accounted for as Secured Borrowings

	Remaining Contractual Maturity of the Agreements
	As of June 30, 2016 (Successor Company)
	(Dollars In Thousands)
	Overnight and Continuous		Up to 30 days		30-90 days		Greater Than 90 days		Total
Repurchase agreements and repurchase-to-maturity transactions
U.S. Treasury and agency securities	$	—	$	—	$	—	$	—	$	—
State and municipal securities	—		—		—		—		—
Other asset-backed securities	—		—		—		—		—
Corporate securities	—		—		—		—		—
Equity securities	—		—		—		—		—
Non-U.S. sovereign debt	—		—		—		—		—
Mortgage loans	177,463		—		—		—		177,463
Other asset-backed securities	—		—		—		—		—
Total borrowings	$	177,463	$	—	$	—	$	—	$	177,463