Summary of Investments - Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2014

Summary of Investments - Other than Investments in Related Parties


Type of investment	Cost ⁽¹⁾		Fair value		Amount at which shown in the consolidated balance sheets
Fixed-maturity securities:
Fixed-maturity securities, available-for-sale:
U.S. government	$	1,127,783		1,232,954		1,232,954
Agencies not backed by the full faith and credit of the U.S. government		130,703		145,350		145,350
States and political subdivisions		6,718,229		7,540,942		7,540,942
Foreign government		308,633		311,675		311,675
Public utilities		5,482,698		6,328,249		6,328,249
Corporate securities		45,725,053		49,497,457		49,497,457
Mortgage-backed securities		13,415,946		14,097,897		14,097,897
Collateralized mortgage obligations		10,697		12,032		12,032
Collateralized debt obligations		33,637		45,229		45,229

Total fixed-maturity securities, available-for-sale		72,953,379		79,211,785		79,211,785

Fixed-maturity securities, at fair value through income:
U.S. government		40,535		41,223		41,223

Total fixed-maturity securities, trading		40,535		41,223		41,223

Fixed-maturity securities, held-to-maturity:
Collateralized debt obligations		180,316		204,392		180,316
Corporate securities		82		97		82

Total fixed-maturity securities, held-to-maturity		180,398		204,489		180,398

Total fixed-maturity securities		73,174,312		79,457,497		79,433,406

Equity securities:
Equity securities, available-for-sale:
Common stocks:
Industrial and miscellaneous		6,180		6,226		6,226
Equity securities, trading:
Common stocks:
Industrial and miscellaneous		296,992		314,023		314,023

Total equity securities		303,172	$	320,249		320,249

Other investments:
Mortgage loans on real estate, net		7,182,169				7,182,169
Short-term securities		47,897				47,897
Derivatives		721,736				721,736
Real estate
Loans to affiliates		850,115				850,115
Policy loans		160,141				160,141
Acquired loans		201,268				201,268
Other invested assets		75,041				75,041

Total other investments		9,238,367				9,238,367

Total investments	$	82,715,851			$	88,992,022

⁽¹⁾	Original cost of equity securities and, as to fixed-maturities, original cost reduced by repayments and adjusted for amortization of premiums, accrual discounts, or impairments.

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

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