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Unaudited Interim Statements of Financial Position - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost, 2020: $14,517,513; 2019: $12,465,746; 2020-net of $982 allowance for credit losses) $ 16,894,879 $ 13,202,365
Fixed maturities, trading, at fair value (amortized cost, 2020: $525,032; 2019: $349,428) 620,449 383,198
Equity securities, at fair value (cost, 2020: $66,470; 2019: $63,647) 72,065 67,503
Commercial mortgage and other loans (net of $6,879 and $2,663 allowance for credit losses at June 30, 2020 and December 31, 2019, respectively) 1,644,320 [1] 1,471,522
Policy loans 12,257 12,366
Short-term investments 3,642,940 335,358
Other invested assets (includes $13,524 and $10,492 of assets measured at fair value at June 30, 2020 and December 31, 2019, respectively) 529,040 474,013
Total investments 23,415,950 15,946,325
Cash and cash equivalents 6,554,856 2,795,163
Deferred policy acquisition costs 4,243,190 [1] 4,455,683
Accrued investment income 116,317 102,724
Reinsurance recoverables 860,518 621,510
Income taxes 1,765,762 [1] 1,202,714
Value of business acquired 27,246 30,025
Deferred sales inducements 751,671 812,724
Receivables from parent and affiliates 89,092 62,765
Other assets 312,198 139,933
Separate account assets 29,379,668 32,665,431
TOTAL ASSETS 67,516,468 58,834,997
LIABILITIES    
Future policy benefits 25,263,142 12,932,461
Policyholders’ account balances 6,859,669 6,180,359
Payables to parent and affiliates 480,793 185,156
Short-term Debt 353,849 242,094
Long-term debt 299,747 419,418
Reinsurance payables 210,579 235,318
Other liabilities 893,740 [1] 447,405
Separate account liabilities 29,379,668 32,665,431
Total liabilities 63,741,187 53,307,642
COMMITMENTS AND CONTINGENT LIABILITIES
EQUITY    
Common stock, $100 par value; 25,000 shares authorized, issued and outstanding 2,500 2,500
Additional paid-in capital 4,762,936 5,142,936
Retained earnings / (accumulated deficit) (2,625,087) (46,693)
Accumulated other comprehensive income (loss) 1,634,932 428,612
Total equity 3,775,281 5,527,355
TOTAL LIABILITIES AND EQUITY $ 67,516,468 $ 58,834,997
[1] June 30, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.