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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
REVENUES    
Premiums $ 17,915 $ 15,637
Policy charges and fee income 527,407 540,765
Net investment income 105,452 103,420
Asset administration fees 72,791 98,687
Other income 13,522 17,217
Realized investment gains (losses), net:    
Other-than-temporary impairments on fixed maturity securities (16,349) (33)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 199 22
Other realized investment gains (losses), net 71,301 59,036
Total realized investment gains (losses), net 55,151 59,025
TOTAL REVENUES 792,238 834,751
BENEFITS AND EXPENSES    
Policyholders’ benefits 98,528 58,401
Interest credited to policyholders’ account balances 186,431 117,477
Amortization of deferred policy acquisition costs 640,552 302,751
General, administrative and other expenses 236,953 258,546
TOTAL BENEFITS AND EXPENSES 1,162,464 737,175
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (370,226) 97,576
Income tax expense (benefit) (44,095) 13,346
NET INCOME (LOSS) (326,131) 84,230
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments 219 (520)
Net unrealized investment gains (losses):    
Unrealized investment gains (losses) for the period 162,282 81,731
Reclassification adjustment for (gains) losses included in net income (loss) 14,924 (2,114)
Net unrealized investment gains (losses) 177,206 79,617
Other comprehensive income (loss), before tax 177,425 79,097
Less: Income tax expense (benefit) related to:    
Foreign currency translation adjustments 76 (182)
Net unrealized investment gains (losses) 62,022 27,866
Total 62,098 27,684
Other comprehensive income (loss), net of tax 115,327 51,413
COMPREHENSIVE INCOME (LOSS) $ (210,804) $ 135,643