OFFSETTING OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2019

Offsetting [Abstract]

Schedule of Derivative Instruments by Assets

The tables below present the derivative instruments by assets and liabilities for the Company as of March 31, 2019:

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	428,077	$	—	$	428,077	$	165,785	$	152,924	$	109,368
Total derivatives, subject to a master netting arrangement or similar arrangement	428,077		—		428,077		165,785		152,924		109,368
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	38		—		38		—		—		38
Embedded derivative - GLWB	109,494		—		109,494		—		—		109,494
Other	166		—		166		—		—		166
Total derivatives, not subject to a master netting arrangement or similar arrangement	109,698		—		109,698		—		—		109,698
Total derivatives	537,775		—		537,775		165,785		152,924		219,066
Total Assets	$	537,775	$	—	$	537,775	$	165,785	$	152,924	$	219,066

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2018: 

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	263,349	$	—	$	263,349	$	70,322	$	99,199	$	93,828
Total derivatives, subject to a master netting arrangement or similar arrangement	263,349		—		263,349		70,322		99,199		93,828
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	7,072		—		7,072		—		—		7,072
Embedded derivative - GLWB	105,272		—		105,272		—		—		105,272
Other	136		—		136		—		—		136
Total derivatives, not subject to a master netting arrangement or similar arrangement	112,480		—		112,480		—		—		112,480
Total derivatives	375,829		—		375,829		70,322		99,199		206,308
Total Assets	$	375,829	$	—	$	375,829	$	70,322	$	99,199	$	206,308

Schedule of Derivative Instruments by Liabilities

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Collateral Posted		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	125,519	$	—	$	125,519	$	70,322	$	47,856	$	7,341
Total derivatives, subject to a master netting arrangement or similar arrangement	125,519		—		125,519		70,322		47,856		7,341
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	32,828		—		32,828		—		—		32,828
Embedded derivative - GLWB	289,343		—		289,343		—		—		289,343
Embedded derivative - FIA	217,288		—		217,288		—		—		217,288
Embedded derivative - IUL	90,231		—		90,231		—		—		90,231
Other	252		—		252		—		—		252
Total derivatives, not subject to a master netting arrangement or similar arrangement	629,942		—		629,942		—		—		629,942
Total derivatives	755,461		—		755,461		70,322		47,856		637,283
Repurchase agreements(1)	418,090		—		418,090		—		—		418,090
Total Liabilities	$	1,173,551	$	—	$	1,173,551	$	70,322	$	47,856	$	1,055,373
(1) Borrowings under repurchase agreements are for a term less than 90 days.

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Collateral Posted		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	175,074	$	—	$	175,074	$	165,785	$	9,289	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	175,074		—		175,074		165,785		9,289		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	107,457		—		107,457		—		—		107,457
Embedded derivative - GLWB	313,190		—		313,190		—		—		313,190
Embedded derivative - FIA	263,445		—		263,445		—		—		263,445
Embedded derivative - IUL	112,814		—		112,814		—		—		112,814
Other	985		—		985		—		—		985
Total derivatives, not subject to a master netting arrangement or similar arrangement	797,891		—		797,891		—		—		797,891
Total derivatives	972,965		—		972,965		165,785		9,289		797,891
Repurchase agreements(1)	89,275		—		89,275		—		—		89,275
Total Liabilities	$	1,062,240	$	—	$	1,062,240	$	165,785	$	9,289	$	887,166
(1) Borrowings under repurchase agreements are for a term less than 90 days.