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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Summary of changes in the accumulated balances for each component of AOCI
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of March 31, 2017 and December 31, 2016.
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Minimum
Pension Liability
Adjustment
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2016
 
$
(656,322
)
 
$
727

 
$
1,072

 
$
(654,523
)
Other comprehensive income (loss) before reclassifications
 
159,641

 
(672
)
 
—

 
158,969

Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
3,703

 
—

 
—

 
3,703

Amounts reclassified from accumulated other
comprehensive income (loss)(1)
 
(1,072
)
 
133

 
—

 
(939
)
Net current-period other comprehensive income (loss)
 
162,272

 
(539
)
 
—

 
161,733

Ending Balance, March 31, 2017
 
$
(494,050
)
 
$
188

 
$
1,072

 
$
(492,790
)
 
 
 
 
 
 
 
 
 
(1)  See Reclassification table below for details.
(2)  As of March 31, 2017, net unrealized losses reported in AOCI were offset by $348.4 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Minimum
Pension Liability
Adjustment
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2015
 
$
(1,247,065
)
 
$
—

 
$
5,931

 
$
(1,241,134
)
Other comprehensive income (loss) before reclassifications
 
606,985

 
688

 
(5,659
)
 
602,014

Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(6,782
)
 
—

 
—

 
(6,782
)
Amounts reclassified from accumulated other
comprehensive income (loss)(1)
 
(9,460
)
 
39

 
800

 
(8,621
)
Net current-period other comprehensive income (loss)
 
590,743

 
727

 
(4,859
)
 
586,611

Ending Balance, December 31, 2016
 
$
(656,322
)
 
$
727

 
$
1,072

 
$
(654,523
)
 
 
 
 
 
 
 
 
 
(1)  See Reclassification table below for details.
(2)  As of December 31, 2015 and December 31, 2016, net unrealized losses reported in AOCI were offset by $623.0 million and $424.1 million, respectively, due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Schedule of reclassifications amounts out of AOCI
The following tables summarize the reclassifications amounts out of AOCI for the three months ended March 31, 2017 and 2016.
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
 
Amount
Reclassified
from Accumulated
 
 
 
 
Other Comprehensive
 
Affected Line Item in the
For The Three Months Ended March 31, 2017
 
Income (Loss)
 
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Gains and losses on derivative instruments
 
 
 
 
Net settlement (expense)/benefit(1)
 
$
(205
)
 
Benefits and settlement expenses, net of reinsurance ceded
 
 
(205
)
 
Total before tax
 
 
72

 
Tax (expense) or benefit
 
 
$
(133
)
 
Net of tax
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
9,481

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(7,831
)
 
Net impairment losses recognized in earnings
 
 
1,650

 
Total before tax
 
 
(578
)
 
Tax (expense) or benefit
 
 
$
1,072

 
Net of tax
(1) See Note 6, Derivative Financial Instruments for additional information
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
 
Amount
Reclassified
from Accumulated
 
 
 
 
Other Comprehensive
 
Affected Line Item in the
For The Three Months Ended March 31, 2016
 
Income (Loss)
 
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
5,555

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(2,617
)
 
Net impairment losses recognized in earnings
 
 
2,938

 
Total before tax
 
 
(1,028
)
 
Tax (expense) or benefit
 
 
$
1,910

 
Net of tax