OFFSETTING OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 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 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

The tables below present the derivative instruments by assets and liabilities for the Company as of June 30, 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	$	532,700	$	—	$	532,700	$	210,744	$	214,952	$	107,004
Total derivatives, subject to a master netting arrangement or similar arrangement	532,700		—		532,700		210,744		214,952		107,004
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	13,738		—		13,738		—		—		13,738
Embedded derivative - GLWB	97,185		—		97,185		—		—		97,185
Other	173		—		173		—		—		173
Total derivatives, not subject to a master netting arrangement or similar arrangement	111,096		—		111,096		—		—		111,096
Total derivatives	643,796		—		643,796		210,744		214,952		218,100
Total Assets	$	643,796	$	—	$	643,796	$	210,744	$	214,952	$	218,100

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	$	222,116	$	—	$	222,116	$	210,744	$	11,215	$	157
Total derivatives, subject to a master netting arrangement or similar arrangement	222,116		—		222,116		210,744		11,215		157
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	188,853		—		188,853		—		—		188,853
Embedded derivative - GLWB	471,199		—		471,199		—		—		471,199
Embedded derivative - FIA	298,721		—		298,721		—		—		298,721
Embedded derivative - IUL	136,660		—		136,660		—		—		136,660
Other	1,644		—		1,644		—		—		1,644
Total derivatives, not subject to a master netting arrangement or similar arrangement	1,097,077		—		1,097,077		—		—		1,097,077
Total derivatives	1,319,193		—		1,319,193		210,744		11,215		1,097,234
Repurchase agreements(1)	60,000		—		60,000		—		—		60,000
Total Liabilities	$	1,379,193	$	—	$	1,379,193	$	210,744	$	11,215	$	1,157,234
(1) Borrowings under repurchase agreements are for a term less than 90 days.