OFFSETTING OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2015

OFFSETTING OF ASSETS AND LIABILITIES

Schedule of derivative instruments by assets

The tables below present the derivative instruments by assets and liabilities for the Company as of September 30, 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	$	294,769	$	—	$	294,769	$	24,953	$	148,469	$	121,347
Total derivatives, subject to a master netting arrangement or similar arrangement	294,769		—		294,769		24,953		148,469		121,347
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	859		—		859		—		—		859
Embedded derivative - GMWB	94,344		—		94,344		—		—		94,344
Other	288		—		288		—		—		288
Total derivatives, not subject to a master netting arrangement or similar arrangement	95,491		—		95,491		—		—		95,491
Total derivatives	390,260		—		390,260		24,953		148,469		216,838
Total Assets	$	390,260	$	—	$	390,260	$	24,953	$	148,469	$	216,838

The tables below present the derivative instruments by assets and 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
	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

Schedule of derivative instruments by liabilities

The tables below present the derivative instruments by assets and liabilities for the Company as of September 30, 2015 (Successor Company):

					Net Amounts
			Gross		of Liabilities		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	$	24,976	$	—	$	24,976	$	24,953	$	23	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	24,976		—		24,976		24,953		23		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	221,849		—		221,849		—		—		221,849
Embedded derivative - GMWB	288,091		—		288,091		—		—		288,091
Embedded derivative - FIA	76,709		—		76,709		—		—		76,709
Embedded derivative - IUL	21,711		—		21,711		—		—		21,711
Total derivatives, not subject to a master netting arrangement or similar arrangement	608,360		—		608,360		—		—		608,360
Total derivatives	633,336		—		633,336		24,953		23		608,360
Repurchase agreements(1)	455,718		—		455,718		—		—		455,718
Total Liabilities	$	1,089,054	$	—	$	1,089,054	$	24,953	$	23	$	1,064,078

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

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company):

					Net Amounts
			Gross		of Liabilities		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.