OFFSETTING OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2017

Offsetting [Abstract]

Schedule of Derivative Instruments by Assets

The tables below present the assets and liabilities subject to master netting agreements as of March 31, 2017:

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	412,064	$	—	$	412,064	$	206,954	$	96,785	$	108,325
Total derivatives, subject to a master netting arrangement or similar arrangement	412,064		—		412,064		206,954		96,785		108,325
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	616		—		616		—		—		616
Embedded derivative - GLWB	132,812		—		132,812		—		—		132,812
Other	153		—		153		—		—		153
Total derivatives, not subject to a master netting arrangement or similar arrangement	133,581		—		133,581		—		—		133,581
Total derivatives	545,645		—		545,645		206,954		96,785		241,906
Total Assets	$	545,645	$	—	$	545,645	$	206,954	$	96,785	$	241,906

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2016: 

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							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

Schedule of Derivative Instruments by Liabilities

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							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.

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	215,419	$	—	$	215,419	$	206,954	$	8,465	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	215,419		—		215,419		206,954		8,465		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	150,924		—		150,924		—		—		150,924
Embedded derivative - GLWB	214,550		—		214,550		—		—		214,550
Embedded derivative - FIA	170,215		—		170,215		—		—		170,215
Embedded derivative - IUL	51,385		—		51,385		—		—		51,385
Total derivatives, not subject to a master netting arrangement or similar arrangement	587,074		—		587,074		—		—		587,074
Total derivatives	802,493		—		802,493		206,954		8,465		587,074
Repurchase agreements(1)	787,652		—		787,652		787,652		—		—
Total Liabilities	$	1,590,145	$	—	$	1,590,145	$	994,606	$	8,465	$	587,074
(1) Borrowings under repurchase agreements are for a term less than 90 days.