XML 57 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale $ 16,894,879 $ 13,202,365
Fixed maturities trading 620,449 383,198
Equity securities 72,065 67,503
Short-term investments 3,642,940 335,358
Other invested assets 529,040 474,013
Other Assets 312,198 139,933
Reinsurance recoverables 860,518 621,510
Receivables from parent and affiliates 89,092 62,765
Separate account assets 29,379,668 32,665,431
TOTAL ASSETS 67,516,468 58,834,997
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
Other Liabilities 893,740 [1] 447,405
Total Liabilities 63,741,187 53,307,642
Future policy benefits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability 23,999,000 11,823,000
Embedded Derivative, Fair Value of Embedded Derivative Gross Asset 223,000 583,000
Embedded Derivative, Fair Value of Embedded Derivative Gross Liability 24,222,000 12,406,000
Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 16,894,879 13,202,365
Fixed maturities trading 620,449 383,198
Equity securities 62,065 57,503
Short-term investments 2,818,001 260,354
Cash equivalents 4,544,970 1,805,605
Other invested assets 2,873 2
Other Assets 27,136 8,059
Reinsurance recoverables 592,528 349,820
Receivables from parent and affiliates 55,789 2,573
Subtotal excluding separate account assets 25,618,690 16,069,479
Separate account assets 29,379,668 32,665,431
TOTAL ASSETS 54,998,358 48,734,910
Future policy benefits 23,998,671 11,822,998
Policyholders’ account balances 226,072 196,892
Payables to parent and affiliates 435,822 145,947
Other Liabilities 99,539 8,130
Total Liabilities 24,760,104 12,173,967
Assets Netting (18,952,384) (7,324,049)
Liabilities Netting (7,947,699) (3,053,132)
Netting (11,005,000) (4,271,000)
Fair Value, Measurements, Recurring | Other invested assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets Netting (18,952,384) (7,324,049)
Fair Value, Measurements, Recurring | Payables to parent and affiliates    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities Netting (7,945,093) (3,052,493)
Fair Value, Measurements, Recurring | Other liabilities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities Netting (2,606) (639)
Fair Value, Measurements, Recurring | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 9,158,179 7,119,824
Fair Value, Measurements, Recurring | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 259,210 259,682
Fair Value, Measurements, Recurring | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 180,675 222,884
Fair Value, Measurements, Recurring | U.S. corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 2,790,846 1,740,676
Fair Value, Measurements, Recurring | U.S. corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 1,537,597 1,207,339
Fair Value, Measurements, Recurring | Foreign corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 330,629 337,987
Fair Value, Measurements, Recurring | Foreign corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 1,238,279 1,213,485
Fair Value, Measurements, Recurring | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 619,143 444,438
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 700,435 578,289
Fair Value, Measurements, Recurring | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 79,886 77,761
Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fixed maturities trading 0 0
Equity securities 4,561 5,314
Short-term investments 1,484,744 0
Cash equivalents 2,691,682 150,631
Other invested assets 3,803 639
Other Assets 0 0
Reinsurance recoverables 0 0
Receivables from parent and affiliates 0 0
Subtotal excluding separate account assets 4,184,790 156,584
Separate account assets 0 0
TOTAL ASSETS 4,184,790 156,584
Future policy benefits 0 0
Policyholders’ account balances 0 0
Payables to parent and affiliates 0 0
Other Liabilities 91,057 8,509
Total Liabilities 91,057 8,509
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 16,741,146 13,068,726
Fixed maturities trading 616,148 378,734
Equity securities 52,262 46,942
Short-term investments 1,333,257 260,354
Cash equivalents 1,853,288 1,654,974
Other invested assets 18,951,454 7,323,412
Other Assets 0 0
Reinsurance recoverables 53,405 47,006
Receivables from parent and affiliates 55,789 2,573
Subtotal excluding separate account assets 39,656,749 22,782,721
Separate account assets 29,379,668 32,665,431
TOTAL ASSETS 69,036,417 55,448,152
Future policy benefits 0 0
Policyholders’ account balances 0 0
Payables to parent and affiliates 8,380,915 3,198,440
Other Liabilities 11,088 260
Total Liabilities 8,392,003 3,198,700
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 9,145,963 7,109,277
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 259,210 259,682
Fair Value, Measurements, Recurring | Level 2 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 180,675 222,884
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 2,782,763 1,732,632
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 1,478,651 1,155,464
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 330,445 337,800
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 1,182,103 1,169,324
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 601,015 425,613
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 700,435 578,289
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 79,886 77,761
Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 153,733 133,639
Fixed maturities trading 4,301 4,464
Equity securities 5,242 5,247
Short-term investments 0 0
Cash equivalents 0 0
Other invested assets 0 0
Other Assets 27,136 8,059
Reinsurance recoverables 539,123 302,814
Receivables from parent and affiliates 0 0
Subtotal excluding separate account assets 729,535 454,223
Separate account assets 0 0
TOTAL ASSETS 729,535 454,223
Future policy benefits 23,998,671 11,822,998
Policyholders’ account balances 226,072 196,892
Payables to parent and affiliates 0 0
Other Liabilities 0 0
Total Liabilities 24,224,743 12,019,890
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 12,216 10,547
Fair Value, Measurements, Recurring | Level 3 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 3 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 8,083 8,044
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 58,946 51,875
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate public securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 184 187
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate private securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 56,176 44,161
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 18,128 18,825
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Other invested assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value investment measured at NAV per share $ 10,700 $ 10,500
[1] June 30, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.