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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 324,432 $ 395,217 $ 508,003
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Policy charges and fee income (142,781) 113,501 (8,770)
Interest credited to policyholders’ account balances 168,391 301,220 374,211
Realized investment (gains) losses, net 80,186 (758,449) 208,538
Amortization and other non-cash items (65,536) (70,104) (68,070)
Change in:      
Future policy benefits 1,934,713 1,816,665 1,534,228
Reinsurance recoverables (2,080,452) (1,764,242) (1,559,165)
Accrued investment income (3,692) 12,709 (9,525)
Net payables to/receivables from parent and affiliates 43,913 (9,851) 20,299
Deferred policy acquisition costs (183,884) 311,273 43,168
Income taxes (74,156) (45,147) (36,879)
Derivatives, net 55,104 (198,861) 60,517
Other, net 47,594 (110,850) 76,374
Cash flows from (used in) operating activities 103,832 (6,919) 1,142,929
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 1,062,236 1,371,000 813,721
Short-term investments 72,725 260,027 823,112
Policy loans 143,655 137,778 135,449
Ceded policy loans (15,188) (8,989) (9,129)
Commercial mortgage and other loans 254,635 209,263 219,379
Other long-term investments 31,192 12,479 15,633
Equity securities, available-for-sale 510 34,618 5,760
Trading account assets 214 1,595 1,500
Payments for the purchase/origination of:      
Fixed maturities, available-for-sale (1,315,508) (2,465,763) (1,719,015)
Short-term investments (37,407) (241,827) (755,145)
Policy loans (123,645) (120,628) (110,165)
Ceded policy loans 18,942 18,054 13,850
Commercial mortgage and other loans (180,929) (312,898) (196,538)
Other long-term investments (32,275) (32,307) (49,004)
Equity securities, available-for-sale (5,000) (5,000) (31,063)
Trading account assets (15,019) 0 (19,001)
Notes receivable from parent and affiliates, net 5,731 20,463 35,350
Derivatives, net (17,569) 20,954 (12,164)
Other, net (152,576) (261) (584)
Cash flows from (used in) investing activities (305,276) (1,101,442) (838,054)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Policyholders’ account deposits 4,540,655 4,289,697 3,839,784
Ceded policyholders’ account deposits (3,083,049) (2,430,570) (1,109,311)
Policyholders’ account withdrawals (2,682,445) (2,505,219) (2,134,373)
Ceded policyholders’ account withdrawals 1,692,756 1,072,151 50,016
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (110,710) 103,463 (25,002)
Dividend to parent (250,000) 0 (430,000)
Contributed capital 148,500 405,321 0
Contributed (distributed) capital - parent/child asset transfers 2,354 1,676 (18,739)
Proceeds from the issuance of debt (maturities longer than 90 days) 0 0 412,000
Repayments of debt (maturities longer than 90 days) 0 (125,000) (739,000)
Drafts outstanding 59,795 22,713 5,084
Cash flows from (used in) financing activities 317,856 834,232 (149,541)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 116,412 (274,129) 155,334
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 96,157 370,286 214,952
CASH AND CASH EQUIVALENTS, END OF YEAR 212,569 96,157 370,286
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes paid, net of refunds (45,538) (28,772) 26,237
Interest paid 2,179 $ 16,263 $ 53,122
Significant Non-Cash Transactions      
Increase (Decrease) In Fixed Maturities, Available For Sale, Investing Activities (837,000)    
Increase (Decrease) In Other Long Term Investments, Tax Settlements, Investing Activities $ (35,000)