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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Premiums and policy fees $ 868,139 $ 857,948 $ 1,728,725 $ 1,710,743
Reinsurance ceded (342,898) (336,605) (658,974) (646,932)
Net of reinsurance ceded 525,241 521,343 1,069,751 1,063,811
Net investment income 507,771 488,460 1,014,184 963,577
Realized investment gains (losses):        
Derivative financial instruments (108,188) (83,366) (178,066) (156,865)
All other investments 53,717 88,783 76,558 170,511
Other-than-temporary impairment losses (33) (5,527) (2,758) (8,296)
Portion recognized in other comprehensive income (before taxes) (2,752) 4,560 (7,858) 4,712
Net impairment losses recognized in earnings (2,785) (967) (10,616) (3,584)
Other income 111,311 102,148 220,553 205,864
Total revenues 1,087,067 1,116,401 2,192,364 2,243,314
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2017 -$286,234 and $549,611; three and six months 2016 - $276,294 and $576,167) 712,361 713,697 1,462,003 1,428,242
Amortization of deferred policy acquisition costs and value of business acquired 23,102 20,761 43,621 51,507
Other operating expenses, net of reinsurance ceded: (three and six months 2017 -$53,305 and $104,322; 2016 -$50,950 and $99,261) 225,836 213,282 448,623 423,062
Total benefits and expenses 961,299 947,740 1,954,247 1,902,811
Income before income tax 125,768 168,661 238,117 340,503
Income tax expense 41,500 56,541 78,435 113,035
Net income $ 84,268 $ 112,120 $ 159,682 $ 227,468