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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Premiums $ 20,321 $ 11,620 $ 59,440 $ 44,872
Policy charges and fee income 547,404 501,995 1,618,202 1,538,816
Net investment income 102,215 100,954 307,121 302,651
Asset administration fees 84,814 95,948 285,866 279,099
Other income 11,714 15,391 43,944 41,965
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (1,099) 0 (1,514) (363)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 19 0 51 236
Other realized investment gains (losses), net (1,904) (37,958) (113,152) 79,368
Total realized investment gains (losses), net (2,984) (37,958) (114,615) 79,241
TOTAL REVENUES 763,484 687,950 2,199,958 2,286,644
BENEFITS AND EXPENSES        
Policyholders’ benefits 112,448 90,679 228,115 247,845
Interest credited to policyholders’ account balances 156,486 90,126 322,206 253,705
Amortization of deferred policy acquisition costs 408,510 75,386 697,570 221,974
General, administrative and other expenses 241,744 256,434 774,060 741,518
TOTAL BENEFITS AND EXPENSES 919,188 512,625 2,021,951 1,465,042
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (155,704) 175,325 178,007 821,602
Income tax expense (benefits) (21,601) 3,146 13,451 121,184
NET INCOME (LOSS) (134,103) 172,179 164,556 700,418
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (53) (446) (391) (482)
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period 26,697 (35,786) (97,212) 134,399
Reclassification adjustment for (gains) losses included in net income (5,071) (10,313) (9,115) (16,233)
Net unrealized investment gains (losses) 21,626 (46,099) (106,327) 118,166
Other comprehensive income (loss), before tax 21,573 (46,545) (106,718) 117,684
Less: Income tax expense (benefit) related to:        
Foreign currency translation adjustments (19) (156) (137) (169)
Net unrealized investment gains (losses) 7,368 (16,135) (37,214) 41,358
Total 7,349 (16,291) (37,351) 41,189
Other comprehensive income (loss), net of tax 14,224 (30,254) (69,367) 76,495
COMPREHENSIVE INCOME (LOSS) $ (119,879) $ 141,925 $ 95,189 $ 776,913