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OFFSETTING OF ASSETS AND LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2016
Offsetting [Abstract]  
Schedule of derivative instruments by assets
The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2016 (Successor Company):
 
 
 
 
 
Net
Amounts
of Assets
Presented in
the
Statement of
Financial
Position
 
Gross Amounts
Not Offset
in the Statement of
Financial Position
 
 
 
 
 
Gross
Amounts
Offset in the
Statement of
Financial
Position
 
 
 
 
 
Gross
Amounts
of
Recognized
Assets
 
 
 
 
 
 
 
 
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
 
(Dollars In Thousands)
Offsetting of Derivative Assets
 

 
 

 
 

 
 

 
 

 
 

Derivatives:
 

 
 

 
 

 
 

 
 

 
 

Free-Standing derivatives
$
417,769

 
$
—

 
$
417,769

 
$
171,384

 
$
100,890

 
$
145,495

Total derivatives, subject to a master netting arrangement or similar arrangement
417,769

 
—

 
417,769

 
171,384

 
100,890

 
145,495

Derivatives not subject to a master netting arrangement or similar arrangement
 

 
 

 
 

 
 

 
 

 
 

Embedded derivative - Modco reinsurance treaties
2,573

 
—

 
2,573

 
—

 
—

 
2,573

Embedded derivative - GLWB
121,752

 
—

 
121,752

 
—

 
—

 
121,752

Other
149

 
—

 
149

 
—

 
—

 
149

Total derivatives, not subject to a master netting arrangement or similar arrangement
124,474

 
—

 
124,474

 
—

 
—

 
124,474

Total derivatives
542,243

 
—

 
542,243

 
171,384

 
100,890

 
269,969

Total Assets
$
542,243

 
$
—

 
$
542,243

 
$
171,384

 
$
100,890

 
$
269,969

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2015 (Successor Company):
 
 
 
 
 
Net
Amounts
of Assets
Presented in
the
Statement of
Financial
Position
 
Gross Amounts
Not Offset
in the Statement of
Financial Position
 
 
 
 
 
Gross
Amounts
Offset in the
Statement of
Financial
Position
 
 
 
 
 
Gross
Amounts
of
Recognized
Assets
 
 
 
 
 
 
 
 
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
 
(Dollars In Thousands)
Offsetting of Derivative Assets
 

 
 

 
 

 
 

 
 

 
 

Derivatives:
 

 
 

 
 

 
 

 
 

 
 

Free-Standing derivatives
$
254,840

 
$
—

 
$
254,840

 
$
42,382

 
$
105,842

 
$
106,616

Total derivatives, subject to a master netting arrangement or similar arrangement
254,840

 
—

 
254,840

 
42,382

 
105,842

 
106,616

Derivatives not subject to a master netting arrangement or similar arrangement
 

 
 
 
 
 
 
 
 
 
 
Embedded derivative - Modco reinsurance treaties
1,215

 
—

 
1,215

 
—

 
—

 
1,215

Embedded derivative - GLWB
95,614

 
—

 
95,614

 
—

 
—

 
95,614

Other
347

 
—

 
347

 
—

 
—

 
347

Total derivatives, not subject to a master netting arrangement or similar arrangement
97,176

 
—

 
97,176

 
—

 
—

 
97,176

Total derivatives
352,016

 
—

 
352,016

 
42,382

 
105,842

 
203,792

Total Assets
$
352,016

 
$
—

 
$
352,016

 
$
42,382

 
$
105,842

 
$
203,792

Schedule of derivative instruments by liabilities
 
 
 
 
 
Net
Amounts
of Liabilities
Presented in
the
Statement of
Financial
Position
 
Gross Amounts
Not Offset
in the Statement of
Financial Position
 
 
 
 
 
Gross
Amounts
Offset in the
Statement of
Financial
Position
 
 
 
 
 
Gross
Amounts
of
Recognized
Liabilities
 
 
 
 
 
 
 
 
 
Financial
Instruments
 
Cash
Collateral
Paid
 
Net Amount
 
(Dollars In Thousands)
Offsetting of Derivative Liabilities
 

 
 

 
 

 
 

 
 

 
 

Derivatives:
 

 
 

 
 

 
 

 
 

 
 

Free-Standing derivatives
$
176,979

 
$
—

 
$
176,979

 
$
171,384

 
$
5,595

 
$
—

Total derivatives, subject to a master netting arrangement or similar arrangement
176,979

 
—

 
176,979

 
171,384

 
5,595

 
—

Derivatives not subject to a master netting arrangement or similar arrangement
 

 
 

 
 

 
 

 
 

 
 

Embedded derivative - Modco reinsurance treaties
141,301

 
—

 
141,301

 
—

 
—

 
141,301

Embedded derivative - GLWB
237,122

 
—

 
237,122

 
—

 
—

 
237,122

Embedded derivative - FIA
147,368

 
—

 
147,368

 
—

 
—

 
147,368

Embedded derivative - IUL
46,051

 
—

 
46,051

 
—

 
—

 
46,051

Total derivatives, not subject to a master netting arrangement or similar arrangement
571,842

 
—

 
571,842

 
—

 
—

 
571,842

Total derivatives
748,821

 
—

 
748,821

 
171,384

 
5,595

 
571,842

Repurchase agreements(1)
797,721

 
—

 
797,721

 
—

 
—

 
797,721

Total Liabilities
$
1,546,542

 
$
—

 
$
1,546,542

 
$
171,384

 
$
5,595

 
$
1,369,563

(1)
Borrowings under repurchase agreements are for a term less than 90 days.
 
 
 
 
 
Net
Amounts
of Liabilities
Presented in
the
Statement of
Financial
Position
 
Gross Amounts
Not Offset
in the Statement of
Financial Position
 
 
 
 
 
Gross
Amounts
Offset in the
Statement of
Financial
Position
 
 
 
 
 
Gross
Amounts
of
Recognized
Liabilities
 
 
 
 
 
 
 
 
 
Financial
Instruments
 
Cash
Collateral
Paid
 
Net Amount
 
(Dollars In Thousands)
Offsetting of Derivative Liabilities
 

 
 

 
 

 
 

 
 

 
 

Derivatives:
 

 
 

 
 

 
 

 
 

 
 

Free-Standing derivatives
$
43,999

 
$
—

 
$
43,999

 
$
42,382

 
$
1,617

 
$
—

Total derivatives, subject to a master netting arrangement or similar arrangement
43,999

 
—

 
43,999

 
42,382

 
1,617

 
—

Derivatives not subject to a master netting arrangement or similar arrangement
 
 
 
 
 
 
 
 
 
 
 
Embedded derivative - Modco reinsurance treaties
178,362

 
—

 
178,362

 
—

 
—

 
178,362

Embedded derivative - GLWB
277,236

 
—

 
277,236

 
—

 
—

 
277,236

Embedded derivative - FIA
100,329

 
—

 
100,329

 
—

 
—

 
100,329

Embedded derivative - IUL
29,629

 
—

 
29,629

 
—

 
—

 
29,629

Total derivatives, not subject to a master netting arrangement or similar arrangement
585,556

 
—

 
585,556

 
—

 
—

 
585,556

Total derivatives
629,555

 
—

 
629,555

 
42,382

 
1,617

 
585,556

Repurchase agreements(1)
438,185

 
—

 
438,185

 
—

 
—

 
438,185

Total Liabilities
$
1,067,740

 
$
—

 
$
1,067,740

 
$
42,382

 
$
1,617

 
$
1,023,741

(1)
Borrowings under repurchase agreements are for a term less than 90 days.