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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES    
Premiums $ 74,245 $ 44,405
Policy charges and fee income 191,562 151,865
Net investment income 179,300 98,867
Asset administration fees 79,232 6,211
Other income (loss) (327,604) 18,244
Realized investment gains (losses), net 784,107 76,608
TOTAL REVENUES 980,842 396,200
BENEFITS AND EXPENSES    
Policyholders’ benefits 219,764 93,913
Interest credited to policyholders’ account balances 163,526 56,170
Amortization of deferred policy acquisition costs 359,547 51,840
General, administrative and other expenses 267,697 136,196
TOTAL BENEFITS AND EXPENSES 1,010,534 338,119
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total (29,692) 58,081
Income tax expense (benefit) (4,701) (45,309)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (24,991) 103,390
Equity in earnings of operating joint venture, net of taxes 4 (13)
NET INCOME (LOSS) (24,987) 103,377
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments (1,670) (5,205)
Net unrealized investment gains (losses) (1,015,998) (350,202)
Total (1,017,668) (355,407)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (213,458) (73,731)
Other comprehensive income (loss), net of taxes (804,210) (281,676)
Comprehensive income (loss) $ (829,197) $ (178,299)