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STATEMENTS OF INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues        
Policy charge revenue $ 46,732 $ 46,486 $ 138,881 $ 140,774
Net investment income 29,703 30,542 89,319 94,048
Net realized investment gains (losses)        
Other-than-temporary impairment losses on securities (307)   (307)  
Portion of other-than-temporary impairment losses recognized in other comprehensive income            
Portion of other-than-temporary impairments previously recognized in other comprehensive income (76)   (127) (216)
Net other-than-temporary impairment losses on securities recognized in income (383)   (434) (216)
Net realized investment gains, excluding other-than-temporary impairment losses on securities 4,119 1,833 4,423 5,556
Net realized investment gains 3,736 1,833 3,989 5,340
Net derivative losses (38,353) (14,249) (167,875) (37,269)
Total Revenues 41,818 64,612 64,314 202,893
Benefits and Expenses        
Interest credited to policyholder liabilities 13,280 17,091 46,672 51,444
Policy benefits (net of reinsurance recoveries: 2013 - $527; $10,239; 2012 - $4,159; $9,031) 41,064 (9,404) 51,358 656
Reinsurance premium ceded 1,594 2,647 6,911 7,922
Amortization (accretion) of deferred policy acquisition costs (4,247) 942 1,825 (279)
Amortization (accretion) of value of business acquired (1,394) 7,288 6,836 7,802
Insurance expenses and taxes 11,694 12,374 38,242 37,526
Total Benefits and Expenses 61,991 30,938 151,844 105,071
Income (Loss) Before Taxes (20,173) 33,674 (87,530) 97,822
Income Tax Expense (Benefit) (5,800) 10,446 (6,183) (62,912)
Net Income (Loss) $ (14,373) $ 23,228 $ (81,347) $ 160,734