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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Premiums and policy fees $ 930,328 $ 889,166
Reinsurance ceded (318,377) (345,423)
Net of reinsurance ceded 611,951 543,743
Net investment income 685,924 520,863
Realized investment gains (losses) 9,919 (9,540)
Other-than-temporary impairment losses (1,295) (691)
Portion recognized in other comprehensive income (before taxes) (1,847) (2,954)
Net impairment losses recognized in earnings (3,142) (3,645)
Other income 109,378 114,411
Total revenues 1,414,030 1,165,832
Benefits and expenses    
Benefits and settlement expenses, net of reinsurance ceded: (2019 - $254,828; 2018 - $347,637) 972,766 786,802
Amortization of deferred policy acquisition costs and value of business acquired 30,400 57,981
Other operating expenses, net of reinsurance ceded: (2019 - $51,291; 2018 - $43,117) 235,949 229,251
Total benefits and expenses 1,239,115 1,074,034
Income before income tax 174,915 91,798
Income tax expense 36,631 17,686
Net income $ 138,284 $ 74,112