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STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Policy charge revenue $ 35,978 $ 37,454 $ 109,365 $ 112,299
Net investment income (loss) 22,364 27,427 68,863 81,788
Net realized investment gains (losses)        
Net realized investment gains (losses), excluding other-than-temporary impairment losses on securities 84 4,711 8,970 6,926
Net realized investment gains (losses) 84 4,711 8,970 6,926
Net derivative gains (losses) (15,168) (9,239) (41,644) (40,007)
Total Revenues 43,258 60,353 145,554 161,006
Benefits and Expenses        
Interest credited to policyholder liabilities 12,661 13,207 40,835 39,560
Policy benefits (net of reinsurance recoveries: 2018 - $182; $3,035; 2017 - $212; $1,385) (2,403) (963) 33,973 1,436
Amortization (accretion) of deferred policy acquisition costs 1,200 1,139 2,404 2,876
Amortization (accretion) of value of business acquired 1,809 11,295 11,236 16,513
Insurance, General and Administrative Expenses 9,542 9,739 26,829 25,159
Total Benefits and Expenses 22,809 34,417 115,277 85,544
Income (Loss) Before Taxes 20,449 25,936 30,277 75,462
Income Tax Expense (Benefit) 0 0 0 575
Net Income (Loss) $ 20,449 $ 25,936 $ 30,277 $ 74,887