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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Premiums and policy fees $ 941,868 $ 868,139 $ 1,831,034 $ 1,728,725
Reinsurance ceded (390,941) (342,898) (736,364) (658,974)
Net of reinsurance ceded 550,927 525,241 1,094,670 1,069,751
Net investment income 616,462 507,771 1,137,325 1,014,184
Realized investment gains (losses):        
Derivative financial instruments 12,265 (108,188) 90,324 (178,066)
All other investments (49,602) 53,717 (137,201) 76,558
Other-than-temporary impairment losses (10) (33) (701) (2,758)
Portion recognized in other comprehensive income (before taxes) 5 (2,752) (2,949) (7,858)
Net impairment losses recognized in earnings (5) (2,785) (3,650) (10,616)
Other income 113,861 111,311 228,272 220,553
Total revenues 1,243,908 1,087,067 2,409,740 2,192,364
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2018 - $298,016 and $645,653; three and six months 2017 - $286,234 and $549,611) 861,548 712,361 1,648,350 1,462,003
Amortization of deferred policy acquisition costs and value of business acquired 52,517 23,102 110,498 43,621
Other operating expenses, net of reinsurance ceded: (three and six months 2018 - $51,559 and $94,676; three and six months 2017 - $53,305 and $104,322) 231,071 225,836 460,322 448,623
Total benefits and expenses 1,145,136 961,299 2,219,170 1,954,247
Income before income tax 98,772 125,768 190,570 238,117
Income tax expense 17,277 41,500 34,963 78,435
Net income $ 81,495 $ 84,268 $ 155,607 $ 159,682