OFFSETTING OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2015

OFFSETTING OF ASSETS AND LIABILITIES

Schedule of derivative instruments by assets

The table below presents the derivative instruments by assets for the Company as of March 31, 2015 (Successor Company):

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Assets		Position		Position		Instruments		Received		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Assets
Derivatives:
Free-Standing derivatives	$	273,814	$	—	$	273,814	$	41,440	$	120,634	$	111,740
Total derivatives, subject to a master netting arrangement or similar arrangement	273,814		—		273,814		41,440		120,634		111,740
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	1,572		—		1,572		—		—		1,572
Embedded derivative - GMWB	121,322		—		121,322		—		—		121,322
Other	405		—		405		—		—		405
Total derivatives, not subject to a master netting arrangement or similar arrangement	123,299		—		123,299		—		—		123,299
Total derivatives	397,113		—		397,113		41,440		120,634		235,039
Total Assets	$	397,113	$	—	$	397,113	$	41,440	$	120,634	$	235,039

The table below presents the derivative instruments by assets for the Company as of December 31, 2014 (Predecessor Company):

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Assets		Position		Position		Instruments		Received		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Assets
Derivatives:
Free-Standing derivatives	$	225,716	$	—	$	225,716	$	53,612	$	73,935	$	98,169
Total derivatives, subject to a master netting arrangement or similar arrangement	225,716		—		225,716		53,612		73,935		98,169
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	1,051		—		1,051		—		—		1,051
Embedded derivative - GMWB	66,843		—		66,843		—		—		66,843
Other	360		—		360		—		—		360
Total derivatives, not subject to a master netting arrangement or similar arrangement	68,254		—		68,254		—		—		68,254
Total derivatives	293,970		—		293,970		53,612		73,935		166,423
Total Assets	$	293,970	$	—	$	293,970	$	53,612	$	73,935	$	166,423

(1) Borrowings under repurchase agreements are for a term less than 90 days.

Schedule of derivative instruments by liabilities

The table below presents the derivative instruments by liabilities for the Company as of March 31, 2015 (Successor Company):

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Liabilities		Position		Position		Instruments		Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives	$	46,735	$	—	$	46,735	$	41,440	$	5,295	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	46,735		—		46,735		41,440		5,295		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	341,698		—		341,698		—		—		341,698
Embedded derivative - GMWB	194,098		—		194,098		—		—		194,098
Embedded derivative - FIA	83,126		—		83,126		—		—		83,126
Embedded derivative - IUL	8,593		—		8,593		—		—		8,593
Total derivatives, not subject to a master netting arrangement or similar arrangement	627,515		—		627,515		—		—		627,515
Total derivatives	674,250		—		674,250		41,440		5,295		627,515
Repurchase agreements(1)	510,123		—		510,123		—		—		510,123
Total Liabilities	$	1,184,373	$	—	$	1,184,373	$	41,440	$	5,295	$	1,137,638

The table below presents the derivative instruments by liabilities for the Company as of December 31, 2014 (Predecessor Company):

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of		Cash
	Recognized		Financial		Financial		Financial		Collateral
	Liabilities		Position		Position		Instruments		Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives	$	65,887	$	—	$	65,887	$	53,612	$	12,258	$	17
Total derivatives, subject to a master netting arrangement or similar arrangement	65,887		—		65,887		53,612		12,258		17
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	311,727		—		311,727		—		—		311,727
Embedded derivative - GMWB	311,969		—		311,969		—		—		311,969
Embedded derivative - FIA	124,465		—		124,465		—		—		124,465
Embedded derivative - IUL	6,691		—		6,691		—		—		6,691
Total derivatives, not subject to a master netting arrangement or similar arrangement	754,852		—		754,852		—		—		754,852
Total derivatives	820,739		—		820,739		53,612		12,258		754,869
Repurchase agreements(1)	50,000		—		50,000		—		—		50,000
Total Liabilities	$	870,739	$	—	$	870,739	$	53,612	$	12,258	$	804,869

(1) Borrowings under repurchase agreements are for a term less than 90 days.