XML 29 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues                      
Premiums and policy fees $ 971,629 $ 878,182 $ 941,868 $ 889,166 $ 893,606 $ 855,088 $ 868,139 $ 860,586 $ 3,680,845 $ 3,477,419 $ 3,407,931
Reinsurance ceded (379,242) (269,335) (390,941) (345,423) (376,641) (325,120) (342,898) (316,076) (1,384,941) (1,360,735) (1,314,716)
Net of reinsurance ceded 592,387 608,847 550,927 543,743 516,965 529,968 525,241 544,510 2,295,904 2,116,684 2,093,215
Net investment income 674,286 672,139 616,462 520,863 529,490 507,914 507,771 506,413 2,483,750 2,051,588 1,942,456
Realized investment gains (losses):                      
Derivative financial instruments                 60,988 (305,828) (40,288)
All other investments                 (223,649) 121,428 90,659
Other-than-temporary impairment losses                 (56,578) (3,962) (32,075)
Portion recognized in other comprehensive income (before taxes)                 26,854 (7,780) 14,327
Net impairment losses recognized in earnings (26,060) (14) (5) (3,645) (853) (273) (2,785) (7,831) (29,724) (11,742) (17,748)
Other income 111,883 113,530 113,861 114,411 115,139 110,970 111,311 109,242 453,685 446,662 415,653
Total revenues 1,284,046 1,347,168 1,243,908 1,165,832 1,142,040 1,084,388 1,087,067 1,105,297 5,040,954 4,418,792 4,483,947
Benefits and expenses                      
Benefits and settlement expenses, net of reinsurance ceded: (2018 - $1,191,978; 2017 - $1,242,797; 2016 - $1,181,960)                 3,515,869 2,957,270 2,880,435
Amortization of deferred policy acquisition costs and value of business acquired                 225,808 78,221 149,064
Other operating expenses, net of reinsurance ceded: (2018 - $205,352; 2017 - $222,963; 2016 - $207,197)                 916,259 948,244 860,451
Total benefits and expenses 1,228,317 1,210,449 1,145,136 1,074,034 1,055,950 973,538 961,299 992,948 4,657,936 3,983,735 3,889,950
Income before income tax 55,729 136,719 98,772 91,798 86,090 110,850 125,768 112,349 383,018 435,057 593,997
Income tax (benefit) expense                      
Current                 95,561 26,252 (46,719)
Deferred                 (14,904) (697,727) 247,687
Total income tax expense (benefit) 19,075 26,619 17,277 17,686 (778,218) 28,308 41,500 36,935 80,657 (671,475) 200,968
Net income $ 36,654 $ 110,100 $ 81,495 $ 74,112 $ 864,308 $ 82,542 $ 84,268 $ 75,414 $ 302,361 $ 1,106,532 $ 393,029