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CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited consolidated quarterly operating data
The Company's unaudited consolidated quarterly operating data for the year ended December 31, 2016 (Successor Company), for the period of February 1, 2015 to December 31, 2015 (Successor Company), and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management's opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowner's equity, and cash flows for a period of several quarters.
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars In Thousands)
Successor Company
 
 
 
 
 
 
 
For The Year Ended December 31, 2016
 

 
 

 
 

 
 

Premiums and policy fees
$
852,795

 
$
857,948

 
$
834,544

 
$
862,644

Reinsurance ceded
(310,327
)
 
(336,605
)
 
(322,229
)
 
(345,555
)
Net of reinsurance ceded
542,468

 
521,343

 
512,315

 
517,089

Net investment income
475,117

 
488,460

 
482,729

 
496,150

Realized investment gains (losses)
8,229

 
5,417

 
24,268

 
12,457

Net impairment losses recognized in earnings
(2,617
)
 
(967
)
 
(3,308
)
 
(10,856
)
Other income
103,716

 
102,148

 
107,642

 
102,147

Total revenues
1,126,913

 
1,116,401

 
1,123,646

 
1,116,987

Total benefits and expenses
955,071

 
947,740

 
990,567

 
996,572

Income before income tax
171,842

 
168,661

 
133,079

 
120,415

Income tax expense
56,494

 
56,541

 
39,785

 
48,148

Net income
$
115,348

 
$
112,120

 
$
93,294

 
$
72,267

 
 
 
 
 
 
 
 
 
First
Quarter
(1)
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars In Thousands)
Successor Company
 
 
 
 
 
 
 
February 1, 2015 to December 31, 2015
 
 
 
 
 
 
 
Premiums and policy fees
$
509,008

 
$
832,088

 
$
797,741

 
$
869,213

Reinsurance ceded
(141,401
)
 
(345,244
)
 
(306,774
)
 
(361,559
)
Net of reinsurance ceded
367,607

 
486,844

 
490,967

 
507,654

Net investment income
288,872

 
436,291

 
440,620

 
467,165

Realized investment gains (losses)
(1,415
)
 
(13,468
)
 
(79,306
)
 
(69,693
)
Other income
67,263

 
109,094

 
108,312

 
103,862

Total revenues
722,327

 
1,018,761

 
960,593

 
1,008,988

Total benefits and expenses
629,500

 
921,851

 
873,333

 
886,143

Income before income tax
92,827

 
96,910

 
87,260

 
122,845

Income tax expense
29,966

 
33,070

 
26,853

 
41,654

Net income
$
62,861

 
$
63,840

 
$
60,407

 
$
81,191

(1) First quarter includes February 1, 2015 to March 31, 2015
 
 
 
 
 
 
 

 
 
January 1, 2015
to
January 31, 2015
Predecessor Company
 
(Dollars In Thousands,
Except Per Share Amounts)
Premiums and policy fees
 
$
261,866

Reinsurance ceded
 
(89,956
)
Net of reinsurance ceded
 
171,910

Net investment income
 
175,180

Realized investment gains (losses)
 
(42,602
)
Other income
 
36,421

Total revenues
 
340,909

Total benefits and expenses
 
339,727

Income before income tax
 
1,182

Income tax benefit
 
(327
)
Net income
 
$
1,509

 
 
 
Net income - basic
 
$
0.02

Average shares outstanding - basic
 
80,452,848

Net income - diluted
 
$
0.02

Average shares outstanding - diluted
 
81,759,287