OFFSETTING OF ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2017

Offsetting [Abstract]

OFFSETTING OF ASSETS AND LIABILITIES

OFFSETTING OF ASSETS AND LIABILITIES

Certain of the Company's derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. Additionally, certain of the Company's repurchase agreements provide for net settlement on termination of the agreement. Refer to Note 14, Debt and Other Obligations for details of the Company's repurchase agreement programs.

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2017 (Successor Company):

					Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
			Gross Amounts Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets
							Financial Instruments		Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Assets
Derivatives:
Free-Standing derivatives	$	468,871	$	—	$	468,871	$	242,105	$	108,830	$	117,936
Total derivatives, subject to a master netting arrangement or similar arrangement	468,871		—		468,871		242,105		108,830		117,936
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	1,009		—		1,009		—		—		1,009
Embedded derivative - GLWB	134,995		—		134,995		—		—		134,995
Other	200		—		200		—		—		200
Total derivatives, not subject to a master netting arrangement or similar arrangement	136,204		—		136,204		—		—		136,204
Total derivatives	605,075		—		605,075		242,105		108,830		254,140
Total Assets	$	605,075	$	—	$	605,075	$	242,105	$	108,830	$	254,140

					Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
			Gross Amounts Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities
							Financial Instruments		Collateral Posted		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives	$	246,682	$	—	$	246,682	$	242,105	$	4,577	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	246,682		—		246,682		242,105		4,577		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	215,247		—		215,247		—		—		215,247
Embedded derivative - GLWB	246,755		—		246,755		—		—		246,755
Embedded derivative - FIA	218,676		—		218,676		—		—		218,676
Embedded derivative - IUL	80,212		—		80,212		—		—		80,212
Total derivatives, not subject to a master netting arrangement or similar arrangement	760,890		—		760,890		—		—		760,890
Total derivatives	1,007,572		—		1,007,572		242,105		4,577		760,890
Repurchase agreements(1)	885,000		—		885,000		—		—		885,000
Total Liabilities	$	1,892,572	$	—	$	1,892,572	$	242,105	$	4,577	$	1,645,890

(1) Borrowings under repurchase agreements are for a term less than 90 days.

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

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

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