XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Premiums $ 24,307 $ 2,358 $ 61,722 $ 28,769
Policy charges and fee income 151,080 110,629 452,084 398,489
Net investment income 93,992 95,256 257,035 294,068
Asset administration fees 4,964 4,136 13,654 11,754
Other income 29,582 21,242 53,310 57,197
Realized investment gains (losses), net (1,547) 39,584 8,117 (61,301)
TOTAL REVENUES 302,378 273,205 845,922 728,976
BENEFITS AND EXPENSES        
Policyholders’ benefits 55,828 45,890 228,004 131,659
Interest credited to policyholders’ account balances 52,266 79,407 173,729 174,314
Amortization of deferred policy acquisition costs 42,299 31,167 105,246 92,018
General, administrative and other expenses 119,379 78,104 254,411 206,612
TOTAL BENEFITS AND EXPENSES 269,772 234,568 761,390 604,603
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 32,606 38,637 84,532 124,373
Income tax expense (benefit) (117,796) (6,341) (174,314) (57,806)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 150,402 44,978 258,846 182,179
Equity in earnings of operating joint venture, net of taxes (324) (1,605) (1,624) (2,583)
NET INCOME (LOSS) 150,078 43,373 257,222 179,596
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (4,119) (1,027) (8,007) 5,980
Net unrealized investment gains (losses) 41,679 101,103 232,706 444,702
Total 37,560 100,076 224,699 450,682
Less: Income tax expense (benefit) related to other comprehensive income (loss) 10,954 21,147 51,058 93,292
Other comprehensive income (loss), net of taxes 26,606 78,929 173,641 357,390
Comprehensive income (loss) $ 176,684 $ 122,302 $ 430,863 $ 536,986