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REINSURANCE (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosures [Abstract]  
Schedule of net life insurance in-force
The following table presents the net life insurance in-force:
 
Successor Company
 
Predecessor Company
 
As of December 31,
 
As of December 31,
 
2016
 
2015
 
2014
 
(Dollars In Millions)
 
(Dollars In Millions)
Direct life insurance in-force
$
739,249

 
$
727,705

 
$
721,036

Amounts assumed from other companies
116,265

 
39,547

 
43,237

Amounts ceded to other companies
(348,995
)
 
(368,142
)
 
(388,890
)
Net life insurance in-force
$
506,519

 
$
399,110

 
$
375,383

Percentage of amount assumed to net
23
%
 
10
%
 
12
%
Schedule of effect of reinsurance on life insurance premiums written and earned
Future policy benefit liabilities for the year indicated are as follows:
 
 
Successor Company
 
 
As of December 31,
 
As of December 31,
 
 
2016
 
2015
 
2016
 
2015
 
 
Total Policy Liabilities
and Accruals
 
Reinsurance
Receivable
 
 
(Dollars In Thousands)
 
(Dollars In Thousands)
Life and annuity benefit reserves
 
$
29,574,479

 
$
28,767,296

 
$
4,191,845

 
$
4,437,387

Unpaid life claim liabilities
 
517,257

 
504,710

 
323,630

 
322,984

Life and annuity future policy benefits
 
30,091,736

 
29,272,006

 
4,515,475

 
4,760,371

Other policy benefits reserves
 
170,519

 
184,719

 
103,746

 
115,676

Other policy benefits unpaid claim liabilities
 
248,830

 
247,172

 
200,655

 
200,460

Future policy benefits and claims and associated reinsurance receivable
 
$
30,511,085

 
$
29,703,897

 
$
4,819,876

 
$
5,076,507

Unearned premiums
 
848,495

 
723,536

 
503,970

 
460,244

Total policy liabilities and accruals and associated reinsurance receivable
 
$
31,359,580

 
$
30,427,433

 
$
5,323,846

 
$
5,536,751

The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned:
 
Gross
Amount
 
Ceded to
Other
Companies
 
Assumed
from
Other
Companies
 
Net
Amount
 
Percentage of
Amount
Assumed to
Net
 
(Dollars In Thousands)
Successor Company
 

 
 

 
 

 
 

 
 

For The Year Ended
 
 
 
 
 
 
 
 
 
December 31, 2016:
 
 
 
 
 
 
 
 
 
Premiums and policy fees:
 
 
 
 
 
 
 
 
 
Life insurance
$
2,610,682

 
$
(1,126,915
)
 
$
454,999

 
$
1,938,766

(1) 
23.5
%
Accident/health insurance
58,076

 
(36,935
)
 
17,439

 
38,580

 
45.2

Property and liability insurance
261,009

 
(150,866
)
 
5,726

 
115,869

 
4.9

Total
$
2,929,767

 
$
(1,314,716
)
 
$
478,164

 
$
2,093,215

 
 
February 1, 2015 to December 31, 2015
 

 
 

 
 

 
 

 
 

Premiums and policy fees:
 

 
 

 
 

 
 

 
 

Life insurance
$
2,360,643

 
$
(983,143
)
 
$
308,280

 
$
1,685,780

(1) 
18.3
%
Accident/health insurance
70,243

 
(36,871
)
 
18,252

 
51,624

 
35.4

Property and liability insurance
243,728

 
(134,964
)
 
6,904

 
115,668

 
6.0

Total
$
2,674,614

 
$
(1,154,978
)
 
$
333,436

 
$
1,853,072

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross
Amount
 
Ceded to
Other
Companies
 
Assumed
from
Other
Companies
 
Net
Amount
 
Percentage of
Amount
Assumed to
Net
 
(Dollars In Thousands)
Predecessor Company
 

 
 

 
 

 
 

 
 

January 1, 2015 to January 31, 2015
 
 
 
 
 
 
 
 
 
Premiums and policy fees:
 
 
 
 
 
 
 
 
 
Life insurance
$
204,185

 
$
(74,539
)
 
$
28,601

 
$
158,247

(1) 
18.1
%
Accident/health insurance
6,846

 
(4,621
)
 
1,809

 
4,034

 
44.8

Property and liability insurance
19,759

 
(10,796
)
 
666

 
9,629

 
6.9

Total
$
230,790

 
$
(89,956
)
 
$
31,076

 
$
171,910

 
 
For The Year Ended
 
 
 
 
 
 
 
 
 
December 31, 2015:
 

 
 

 
 

 
 

 
 

Premiums and policy fees:
 

 
 

 
 

 
 

 
 

Life insurance
$
2,603,956

 
$
(1,205,528
)
 
$
349,934

 
$
1,748,362

(1) 
20.0
%
Accident/health insurance
81,037

 
(42,741
)
 
20,804

 
59,100

 
35.2

Property and liability insurance
233,362

 
(125,328
)
 
8,675

 
116,709

 
7.4

Total
$
2,918,355

 
$
(1,373,597
)
 
$
379,413

 
$
1,924,171

 
 

(1)
Includes annuity policy fees of $160.4 million, $152.8 million, $13.9 million, and $167.1 million for the year ended December 31, 2016 (Successor Company), for the periods of February 1, 2015 to December 31, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company), and for the year ended December 31, 2014 (Predecessor Company), respectively.
Schedule of receivables attributable to more significant reinsurance partners
The following table sets forth the receivables attributable to our more significant reinsurance partners:
 
Successor Company
 
As of December 31,
 
2016
 
2015
 
Reinsurance
Receivable
 
A.M. Best
Rating
 
Reinsurance
Receivable
 
A.M. Best
Rating
 
(Dollars In Millions)
Security Life of Denver Insurance Company
$
762.2

 
A
 
$
800.6

 
A
Swiss Re Life & Health America, Inc.
682.6

 
A+
 
719.2

 
A+
Lincoln National Life Insurance Co.
530.9

 
A+
 
546.0

 
A+
Transamerica Life Insurance Co.
367.8

 
A+
 
396.6

 
A+
SCOR Global Life(1)
354.8

 
A
 
320.4

 
A
American United Life Insurance Company
285.6

 
A+
 
314.2

 
A+
RGA Reinsurance Company
269.0

 
A+
 
303.5

 
A+
Centre Reinsurance (Bermuda) Ltd
243.6

 
NR
 
247.6

 
NR
Scottish Re (U.S.) Inc.
232.8

 
NR
 
268.6

 
NR
The Canada Life Assurance Company
216.2

 
A+
 
207.5

 
A+

(1)
Includes SCOR Global Life Americas Reinsurance Company, SCOR Global Life USA Reinsurance Co, and SCOR Global Life Reinsurance Co of Delaware