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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 480,682 $ 159,810
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income 103,829 (12,740)
Interest credited to policyholders’ account balances 256,488 322,206
Realized investment (gains) losses, net (905,945) 114,615
Amortization and other non-cash items (52,910) (46,618)
Change in:    
Future policy benefits 1,408,003 1,130,389
Reinsurance recoverables (1,369,986) (1,080,179)
Accrued investment income 15,601 (5,850)
Net payable to/receivable from parent and affiliates (41,176) (34,759)
Deferred policy acquisition costs 357,105 245,936
Income taxes (115,247) (58,322)
Deferred sales inducements (2,151) (5,335)
Derivatives, net (198,198) 189,021
Other, net 19,979 6,576
Cash flows from (used in) operating activities (43,926) 924,750
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 930,834 639,458
Short-term investments 255,026 589,448
Policy loans 105,840 97,107
Ceded policy loans (7,330) (5,902)
Commercial mortgage and other loans 195,344 120,930
Other long-term investments 7,463 13,046
Equity securities, available-for-sale 31,602 697
Trading account assets 0 1,500
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (1,781,534) (1,216,321)
Short-term investments (241,827) (602,094)
Policy loans (87,199) (81,456)
Ceded policy loans 12,297 9,998
Commercial mortgage and other loans (225,317) (150,658)
Other long-term investments (25,175) (28,160)
Equity securities, available-for-sale (5,000) (31,063)
Trading account assets 0 (19,001)
Notes receivable from parent and affiliates, net 19,543 7,084
Derivatives, net 19,522 (11,859)
Other, net 0 1,353
Cash flows from (used in) investing activities (795,911) (665,893)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 3,085,729 2,812,875
Ceded policyholders’ account deposits (877,874) (774,131)
Policyholders’ account withdrawals (1,910,500) (1,571,992)
Ceded policyholders’ account withdrawals 49,958 38,253
Net change in cash collateral for loaned securities 93,084 3,877
Dividend to parent 0 (230,000)
Contributed capital 205,000 0
Contributed (distributed) capital - parent/child asset transfers 1,676 (18,739)
Proceeds from the issuance of debt (maturities longer than 90 days) 0 388,000
Repayments of debt (maturities longer than 90 days) (125,000) (524,000)
Drafts outstanding 26,255 (16,851)
Cash flows from (used in) financing activities 548,328 107,292
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (291,509) 366,149
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 370,286 214,952
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 78,777 $ 581,101