MONY CLOSED BLOCK OF BUSINESS (Tables)

12 Months Ended

Dec. 31, 2018

Closed Block Disclosure [Abstract]

Summary of financial information for the Closed Block

Summarized financial information for the Closed Block as of December 31, 2018 and December 31, 2017 and is as follows:

	As of December 31,
	2018			2017
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	5,679,732		$	5,791,867
Policyholder dividend obligation	—			160,712
Other liabilities	22,505			30,764
Total closed block liabilities	5,702,237			5,983,343
Closed block assets
Fixed maturities, available-for-sale, at fair value	4,257,437			4,669,856
Mortgage loans on real estate	75,838			108,934
Policy loans	672,213			700,769
Cash and other invested assets	116,225			31,182
Other assets	136,388			122,637
Total closed block assets	5,258,101			5,633,378
Excess of reported closed block liabilities over closed block assets	444,136			349,965
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820	(120,528		)	—
Future earnings to be recognized from closed block assets and closed block liabilities	$	323,608		$	349,965

Schedule of reconciliation of the policyholder dividend obligation

Reconciliation of the policyholder dividend obligation is as follows:

	For The Year Ended December 31,
	2018			2017
	(Dollars In Thousands)
Policyholder dividend obligation, beginning balance	$	160,712		$	31,932
Applicable to net revenue (losses)	(33,014		)	(55,241		)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	(127,698		)	184,021
Policyholder dividend obligation, ending balance	$	—		$	160,712

Schedule of Closed Block revenues and expenses

Closed Block revenues and expenses were as follows:

	For The Year Ended December 31,
	2018			2017		2016
	(Dollars In Thousands)
Revenues
Premiums and other income	$	171,117		$	180,097	$	189,700
Net investment income	202,282			203,964		211,175
Net investment gains	(1,970		)	910		1,524
Total revenues	371,429			384,971		402,399
Benefits and other deductions
Benefits and settlement expenses	337,352			335,200		353,488
Other operating expenses	714			1,940		2,804
Total benefits and other deductions	338,066			337,140		356,292
Net revenues before income taxes	33,363			47,831		46,107
Income tax expense	7,006			27,718		16,137
Net revenues	$	26,357		$	20,113	$	29,970