SIGNIFICANT TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2018

Summary of Consideration Paid and Fair Value of Assets Acquired and Liabilities Assumed

The following table details the purchase consideration and preliminary allocation of assets acquired and liabilities assumed from the Life Business reinsurance transaction as of the transaction date. These estimates remain preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition.



	Fair Value as of May 1, 2018
	(Dollars In Thousands)
ASSETS
Fixed maturities	$	12,588,512
Mortgage loans	435,405
Policy loans	131,489
Total investments	13,155,406
Cash	20,669
Accrued investment income	151,610
Reinsurance receivables	337
Value of business acquired	336,437
Other assets	2,542
Total assets	13,667,001
LIABILITIES
Future policy benefits and claims	$	11,744,496
Unearned premiums	—
Total policy liabilities and accruals	11,744,496
Annuity account balances	1,823,444
Other policyholders’ funds	41,954
Other liabilities	57,107
Total liabilities	13,667,001
NET ASSETS ACQUIRED	$	—

Business Acquisition, Pro Forma Information

The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Life Business were completed as of January 1, 2017. The unaudited pro forma condensed results of operations are presented solely for information purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated.



	Unaudited				Unaudited
	For The Three Months Ended September 30,				For The Nine Months Ended September 30,
	2018		2017		2018		2017
	(Dollars In Thousands)
Revenue	$	1,344,806	$	1,397,739	$	4,078,285	$	4,231,177

Net income	$	110,100	$	118,547	$	311,851	$	347,113

Schedule of Amortization Of Valuation Of Business Acquired

Based on the balance recorded as of May 1, 2018, the expected amortization of VOBA for the next five years is as follows:



Years	Expected Amortization
	(Dollars In Thousands)
Remainder of 2018	$	5,265
2019	21,063
2020	19,950
2021	18,329
2022	16,611