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STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Policy charge revenue $ 36,180 $ 37,369 $ 73,387 $ 74,845
Net investment income (loss) 22,502 26,417 46,499 54,361
Net realized investment gains (losses)        
Net realized investment gains (losses), excluding other-than-temporary impairment losses on securities (2,888) 2,184 8,886 2,215
Net realized investment gains (losses) (2,888) 2,184 8,886 2,215
Net derivative gains (losses) (15,610) (6,540) (26,476) (30,768)
Total Revenues 40,184 59,430 102,296 100,653
Benefits and Expenses        
Interest credited to policyholder liabilities 12,441 13,370 28,174 26,353
Policy benefits (net of reinsurance recoveries: 2018 - $1,145; $2,853; 2017 - $758; $1,173) 14,159 11,889 36,376 2,399
Amortization (accretion) of deferred policy acquisition costs (86) 605 1,204 1,737
Amortization (accretion) of value of business acquired 6,508 2,854 9,427 5,218
Insurance, General and Administrative Expenses 9,826 6,577 17,287 15,420
Total Benefits and Expenses 42,848 35,295 92,468 51,127
Income (Loss) Before Taxes (2,664) 24,135 9,828 49,526
Income Tax Expense (Benefit) (527) 0 0 575
Net Income (Loss) $ (2,137) $ 24,135 $ 9,828 $ 48,951