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CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited consolidated quarterly operating data
The Company’s unaudited consolidated quarterly operating data for the years ended December 31, 2018 and 2017 is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management’s opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowner’s equity, and cash flows for a period of several quarters.
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars In Thousands)
For The Year Ended December 31, 2018
 

 
 

 
 

 
 

Premiums and policy fees
$
889,166

 
$
941,868

 
$
878,182

 
$
971,629

Reinsurance ceded
(345,423
)
 
(390,941
)
 
(269,335
)
 
(379,242
)
Net of reinsurance ceded
543,743

 
550,927

 
608,847

 
592,387

Net investment income
520,863

 
616,462

 
672,139

 
674,286

Realized investment gains (losses)
(9,540
)
 
(37,337
)
 
(47,334
)
 
(68,450
)
Net impairment losses recognized in earnings
(3,645
)
 
(5
)
 
(14
)
 
(26,060
)
Other income
114,411

 
113,861

 
113,530

 
111,883

Total revenues
1,165,832

 
1,243,908

 
1,347,168

 
1,284,046

Total benefits and expenses
1,074,034

 
1,145,136

 
1,210,449

 
1,228,317

Income before income tax
91,798

 
98,772

 
136,719

 
55,729

Income tax expense
17,686

 
17,277

 
26,619

 
19,075

Net income
$
74,112

 
$
81,495

 
$
110,100

 
$
36,654

 
 
 
 
 
 
 
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars In Thousands)
For The Year Ended December 31, 2017
 
 
 
 
 
 
 
Premiums and policy fees
$
860,586

 
$
868,139

 
$
855,088

 
$
893,606

Reinsurance ceded
(316,076
)
 
(342,898
)
 
(325,120
)
 
(376,641
)
Net of reinsurance ceded
544,510

 
525,241

 
529,968

 
516,965

Net investment income
506,413

 
507,771

 
507,914

 
529,490

Realized investment gains (losses)
(47,037
)
 
(54,471
)
 
(64,191
)
 
(18,701
)
Net impairment losses recognized in earnings
(7,831
)
 
(2,785
)
 
(273
)
 
(853
)
Other income
109,242

 
111,311

 
110,970

 
115,139

Total revenues
1,105,297

 
1,087,067

 
1,084,388

 
1,142,040

Total benefits and expenses
992,948

 
961,299

 
973,538

 
1,055,950

Income before income tax
112,349

 
125,768

 
110,850

 
86,090

Income tax expense (benefit)
36,935

 
41,500

 
28,308

 
(778,218
)
Net income
$
75,414

 
$
84,268

 
$
82,542

 
$
864,308