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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Premiums and policy fees $ 878,182 $ 855,088 $ 2,709,216 $ 2,583,813
Reinsurance ceded (269,335) (325,120) (1,005,699) (984,094)
Net of reinsurance ceded 608,847 529,968 1,703,517 1,599,719
Net investment income 672,139 507,914 1,809,464 1,522,098
Realized investment gains (losses):        
Derivative financial instruments (27,465) (82,341) 62,859 (260,407)
All other investments (19,869) 18,150 (157,070) 94,708
Other-than-temporary impairment losses (14) (366) (715) (3,124)
Portion recognized in other comprehensive income (before taxes) 0 93 (2,949) (7,765)
Net impairment losses recognized in earnings (14) (273) (3,664) (10,889)
Other income 113,530 110,970 341,802 331,523
Total revenues 1,347,168 1,084,388 3,756,908 3,276,752
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months 2018 - $215,848 and $861,501; three and nine months 2017 - $256,703 and $806,314) 952,353 743,934 2,600,703 2,205,937
Amortization of deferred policy acquisition costs and value of business acquired 33,511 3,991 144,009 47,612
Other operating expenses, net of reinsurance ceded: (three and nine months 2018 - $54,439 and $149,115; three and nine months 2017 - $57,293 and $161,615) 224,585 225,613 684,907 674,236
Total benefits and expenses 1,210,449 973,538 3,429,619 2,927,785
Income before income tax 136,719 110,850 327,289 348,967
Income tax expense 26,619 28,308 61,582 106,743
Net income $ 110,100 $ 82,542 $ 265,707 $ 242,224