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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Premiums and policy fees $ 945,883 $ 941,868 $ 1,876,211 $ 1,831,034
Reinsurance ceded (339,996) (390,941) (658,373) (736,364)
Net of reinsurance ceded 605,887 550,927 1,217,838 1,094,670
Net investment income 725,811 616,462 1,411,735 1,137,325
Realized investment gains (losses) (48,547) (37,337) (38,628) (46,877)
Other-than-temporary impairment losses (198) (10) (1,493) (701)
Portion recognized in other comprehensive income (before taxes) (500) 5 (2,347) (2,949)
Net impairment losses recognized in earnings (698) (5) (3,840) (3,650)
Other income 136,322 113,861 245,700 228,272
Total revenues 1,418,775 1,243,908 2,832,805 2,409,740
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2019 - $260,358 and $515,186; three and six months 2018 - $298,016 and $645,653) 1,003,987 861,548 1,976,753 1,648,350
Amortization of deferred policy acquisition costs and value of business acquired 33,783 52,517 64,183 110,498
Other operating expenses, net of reinsurance ceded: (three and six months 2019 - $55,124 and $106,415; three and six months 2018 - $51,559 and $94,676) 250,931 231,071 486,880 460,322
Total benefits and expenses 1,288,701 1,145,136 2,527,816 2,219,170
Income before income tax 130,074 98,772 304,989 190,570
Income tax expense 21,963 17,277 58,594 34,963
Net income $ 108,111 $ 81,495 $ 246,395 $ 155,607