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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Premiums and policy fees $ 1,028,082 $ 878,182 $ 2,904,293 $ 2,709,216
Reinsurance ceded (316,983) (269,335) (975,356) (1,005,699)
Net of reinsurance ceded 711,099 608,847 1,928,937 1,703,517
Net investment income 785,285 672,139 2,197,020 1,809,464
Realized investment gains (losses) (13,994) (47,334) (52,622) (94,211)
Other-than-temporary impairment losses (39,752) (14) (41,245) (715)
Portion recognized in other comprehensive income (before taxes) 28,934 0 26,587 (2,949)
Net impairment losses recognized in earnings (10,818) (14) (14,658) (3,664)
Other income 147,139 113,530 392,839 341,802
Total revenues 1,618,711 1,347,168 4,451,516 3,756,908
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months 2019 - $227,027 and $742,213; three and nine months 2018 - $215,848 and $861,501) 1,172,297 952,353 3,149,050 2,600,703
Amortization of deferred policy acquisition costs and value of business acquired 61,319 33,511 125,502 144,009
Other operating expenses, net of reinsurance ceded: (three and nine months 2019 - $58,555 and $164,970; three and nine months 2018 - $54,439 and $149,115) 257,252 224,585 744,132 684,907
Total benefits and expenses 1,490,868 1,210,449 4,018,684 3,429,619
Income before income tax 127,843 136,719 432,832 327,289
Income tax expense 27,217 26,619 85,811 61,582
Net income $ 100,626 $ 110,100 $ 347,021 $ 265,707