Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 are summarized below (dollars in thousands):



December 31, 2016:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	19,619,084		$	310,995	$	18,035,836		$	1,272,253
Canadian and Canadian provincial governments	3,644,046			—		3,168,081			475,965
Residential mortgage-backed securities	1,278,576			—		1,118,285			160,291
Asset-backed securities	1,429,344			—		1,210,064			219,280
Commercial mortgage-backed securities	1,363,654			—		1,342,509			21,145
U.S. government and agencies	1,468,302			1,345,755		98,059			24,488
State and political subdivisions	591,796			—		550,130			41,666
Other foreign government, supranational and foreign government-sponsored enterprises	2,698,823			276,729		2,409,225			12,869
Total fixed maturity securities – available-for-sale	32,093,625			1,933,479		27,932,189			2,227,957
Funds withheld at interest – embedded derivatives	(22,529		)	—		—			(22,529		)
Cash equivalents	338,601			338,601		—			—
Short-term investments	44,241			8,276		32,619			3,346
Other invested assets:
Non-redeemable preferred stock	51,123			38,317		12,806			—
Other equity securities	224,238			224,238		—			—
Derivatives:
Interest rate swaps	93,508			—		93,508			—
Credit default swaps	9,136			—		9,136			—
Equity options	26,070			—		26,070			—
Foreign currency swaps	100,394			—		100,394			—
FVO contractholder-directed unit-linked investments	190,120			188,891		1,229			—
Other	11,036			11,036		—			—
Total other invested assets	705,625			462,482		243,143			—
Other assets - longevity swaps	26,958			—		—			26,958
Total	$	33,186,521		$	2,742,838	$	28,207,951		$	2,235,732
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	990,308		$	—	$	—		$	990,308
Other liabilities:
Derivatives:
Interest rate swaps	24,374			—		24,374			—
Foreign currency forwards	5,070			—		5,070			—
CPI swaps	262			—		262			—
Credit default swaps	(5		)	—		(5		)	—
Equity options	(7,389		)	—		(7,389		)	—
Foreign currency swaps	(3,231		)	—		(3,231		)	—
Mortality swaps	2,462			—		—			2,462
Total	$	1,011,851		$	—	$	19,081		$	992,770



December 31, 2015:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	17,708,156		$	269,039	$	16,212,147		$	1,226,970
Canadian and Canadian provincial governments	3,576,759			—		3,160,683			416,076
Residential mortgage-backed securities	1,311,477			—		980,828			330,649
Asset-backed securities	1,212,676			—		908,840			303,836
Commercial mortgage-backed securities	1,483,087			—		1,414,524			68,563
U.S. government and agencies	1,381,659			1,227,858		127,536			26,265
State and political subdivisions	511,014			—		472,672			38,342
Other foreign government, supranational and foreign government-sponsored enterprises	2,458,077			260,552		2,183,460			14,065
Total fixed maturity securities – available-for-sale	29,642,905			1,757,449		25,460,690			2,424,766
Funds withheld at interest – embedded derivatives	(76,698		)	—		—			(76,698		)
Cash equivalents	406,521			406,521		—			—
Short-term investments	530,773			524,946		5,827			—
Other invested assets:
Non-redeemable preferred stock	87,520			81,809		5,711			—
Other equity securities	38,342			38,342		—			—
Derivatives:
Interest rate swaps	71,882			—		71,882			—
Foreign currency forwards	20			—		20			—
CPI swaps	(292		)	—		(292		)	—
Credit default swaps	2,567			—		2,567			—
Equity options	40,644			—		40,644			—
Foreign currency swaps	141,357			—		141,357			—
FVO contractholder-directed unit-linked investments	197,547			195,317		2,230			—
Other	8,170			8,170		—			—
Total other invested assets	587,757			323,638		264,119			—
Other assets - longevity swaps	14,996			—		—			14,996
Total	$	31,106,254		$	3,012,554	$	25,730,636		$	2,363,064
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	1,070,584		$	—	$	—		$	1,070,584
Other liabilities:
Derivatives:
Interest rate swaps	20,989			—		20,989			—
Foreign currency forwards	6,744			—		6,744			—
Credit default swaps	5,390			—		5,390			—
Equity options	(6,009		)	—		(6,009		)	—
Foreign currency swaps	(4,908		)	—		(4,908		)	—
Mortality swaps	2,619			—		—			2,619
Total	$	1,095,409		$	—	$	22,206		$	1,073,203

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed internally by the Company as of December 31, 2016 and 2015 (dollars in thousands):



	Fair Value						Valuation	Unobservable	Range (Weighted Average)
Assets:	2016			2015			Technique	Input	2016		2015
Corporate securities	$	167,815		$	195,557		Market comparable securities	Liquidity premium	0-2% (1%)		0-2% (1%)
U.S. government and agencies	24,488			26,265			Market comparable securities	Liquidity premium	0-1% (1%)		0-1% (1%)
State and political subdivisions	4,670			4,770			Market comparable securities	Liquidity premium	1	%	1	%
Funds withheld at interest- embedded derivatives	(22,529		)	(76,698		)	Total return swap	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-35% (8%)		0-35% (7%)
								Withdrawal	0-5% (3%)		0-5% (3%)
								CVA	0-5% (1%)		0-5% (1%)
								Crediting rate	2-4% (2%)		2-4% (3%)
Longevity swaps	26,958			14,996			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Mortality improvement	(10%)-10% (3%)		(10%)-10% (3%)

Liabilities:
Interest sensitive contract liabilities- embedded derivatives- indexed annuities	805,672			878,114			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-35% (8%)		0-35% (7%)
								Withdrawal	0-5% (3%)		0-5% (3%)
								Option budget projection	2-4% (2%)		2-4% (3%)
Interest sensitive contract liabilities- embedded derivatives- variable annuities	184,636			192,470			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-25% (6%)		0-25% (7%)
								Withdrawal	0-7% (3%)		0-7% (3%)
								CVA	0-5% (1%)		0-5% (1%)
								Long-term volatility	0-27% (14%)		0-27% (14%)
Mortality swaps	2,462			2,619			Discounted cash flow	Mortality	0-100% (1%)		0-100% (1%)

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]



	Fair Value						Valuation	Unobservable	Range (Weighted Average)
Assets:	2016			2015			Technique	Input	2016		2015
Corporate securities	$	167,815		$	195,557		Market comparable securities	Liquidity premium	0-2% (1%)		0-2% (1%)
U.S. government and agencies	24,488			26,265			Market comparable securities	Liquidity premium	0-1% (1%)		0-1% (1%)
State and political subdivisions	4,670			4,770			Market comparable securities	Liquidity premium	1	%	1	%
Funds withheld at interest- embedded derivatives	(22,529		)	(76,698		)	Total return swap	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-35% (8%)		0-35% (7%)
								Withdrawal	0-5% (3%)		0-5% (3%)
								CVA	0-5% (1%)		0-5% (1%)
								Crediting rate	2-4% (2%)		2-4% (3%)
Longevity swaps	26,958			14,996			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Mortality improvement	(10%)-10% (3%)		(10%)-10% (3%)

Liabilities:
Interest sensitive contract liabilities- embedded derivatives- indexed annuities	805,672			878,114			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-35% (8%)		0-35% (7%)
								Withdrawal	0-5% (3%)		0-5% (3%)
								Option budget projection	2-4% (2%)		2-4% (3%)
Interest sensitive contract liabilities- embedded derivatives- variable annuities	184,636			192,470			Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
								Lapse	0-25% (6%)		0-25% (7%)
								Withdrawal	0-7% (3%)		0-7% (3%)
								CVA	0-5% (1%)		0-5% (1%)
								Long-term volatility	0-27% (14%)		0-27% (14%)
Mortality swaps	2,462			2,619			Discounted cash flow	Mortality	0-100% (1%)		0-100% (1%)

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Level Transfers [Table Text Block]

The following table presents the transfers between Level 1 and Level 2 during the year ended December 31, 2015 (dollars in thousands):



	2015
	Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1
Fixed maturity securities - available-for-sale:
Corporate securities	$	32,206	$	127,653

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The tables below provide a summary of the changes in fair value of Level 3 assets and liabilities for the year ended December 31, 2016, as well as the portion of gains or losses included in income for the year ended December 31, 2016 attributable to unrealized gains or losses related to those assets and liabilities still held at December 31, 2016 (dollars in thousands):



For the year ended December 31, 2016:	Fixed maturity securities - available-for-sale
	Corporate securities			Canadian and Canadian provincial governments		Residential mortgage-backed securities			Asset-backed securities
Fair value, beginning of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,399		)	12,197		(595		)	801
Investment related gains (losses), net	(4,756		)	—		(2,153		)	1,101
Included in other comprehensive income	10,022			47,692		(1,621		)	(2,696		)
Purchases⁽¹⁾	312,720			—		103,553			138,522
Sales⁽¹⁾	(60,399		)	—		(167,684		)	(38,681		)
Settlements⁽¹⁾	(195,016		)	—		(38,495		)	(61,770		)
Transfers into Level 3	14,098			—		1,728			56,105
Transfers out of Level 3	(28,987		)	—		(65,091		)	(177,938		)
Fair value, end of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,343	)	$	12,197	$	(158	)	$	734
Investment related gains (losses), net	(817		)	—		(231		)	—



For the year ended December 31, 2016 (continued):	Fixed maturity securities - available-for-sale
	Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Short-term investments
Fair value, beginning of period	$	68,563		$	26,265		$	38,342		$	14,065		$	—
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1,677			(487		)	215			—			—
Investment related gains (losses), net	(876		)	—			—			—			—
Included in other comprehensive income	(5,887		)	39			962			110			—
Purchases⁽¹⁾	1,545			508			6,952			—			3,365
Sales⁽¹⁾	(41,143		)	—			—			—			—
Settlements⁽¹⁾	(552		)	(1,837		)	(599		)	(1,306		)	(19		)
Transfers into Level 3	—			—			—			—			—
Transfers out of Level 3	(2,182		)	—			(4,206		)	—			—
Fair value, end of period	$	21,145		$	24,488		$	41,666		$	12,869		$	3,346
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	1,552		$	(487	)	$	215		$	—		$	—



For the year ended December 31, 2016 (continued):
	Funds withheld at interest-embedded derivatives			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	(76,698	)	$	14,996		$	(1,070,584	)	$	(2,619	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	54,169			—			7,834			—
Interest credited	—			—			10,709			—
Included in other comprehensive income	—			(1,133		)	—			—
Other revenue	—			13,095			—			(172		)
Purchases⁽¹⁾	—			—			(12,725		)	—
Settlements⁽¹⁾	—			—			74,458			329
Fair value, end of period	$	(22,529	)	$	26,958		$	(990,308	)	$	(2,462	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	54,169		$	—		$	(4,579	)	$	—
Other revenue	—			13,095			—			(172		)
Interest credited	—			—			(63,748		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

The tables below provide a summary of the changes in fair value of Level 3 assets and liabilities for the year ended December 31, 2015, as well as the portion of gains or losses included in income for the year ended December 31, 2015 attributable to unrealized gains or losses related to those assets and liabilities still held at December 31, 2015 (dollars in thousands).



For the year ended December 31, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Canadian and Canadian provincial governments		Residential mortgage-backed securities			Asset-backed securities
Fair value, beginning of period	$	1,310,427		$	—	$	188,094		$	572,960
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(3,517		)	2,788		(1,754		)	4,526
Investment related gains (losses), net	(2,814		)	—		(216		)	808
Included in other comprehensive income	(32,452		)	70,144		(944		)	(2,490		)
Purchases⁽¹⁾	243,871			—		249,208			229,220
Sales⁽¹⁾	(3,949		)	—		(985		)	(13,105		)
Settlements⁽¹⁾	(279,495		)	—		(39,494		)	(98,918		)
Transfers into Level 3	15,455			343,144		2,853			13,542
Transfers out of Level 3	(20,556		)	—		(66,113		)	(402,707		)
Fair value, end of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(3,396	)	$	2,788	$	(1,753	)	$	2,465
Investment related gains (losses), net	(2,278		)	—		—			—



For the year ended December 31, 2015 (continued):	Fixed maturity securities - available-for-sale
	Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises
Fair value, beginning of period	$	86,746		$	28,529		$	42,711		$	19,663
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	2,817			(48		)	32			—
Investment related gains (losses), net	(4,737		)	(233		)	(19		)	—
Included in other comprehensive income	(337		)	(602		)	(3,055		)	(7		)
Purchases⁽¹⁾	42			544			—			—
Sales⁽¹⁾	(6,153		)	—			—			—
Settlements⁽¹⁾	(7,226		)	(1,925		)	(492		)	(1,258		)
Transfers into Level 3	12,828			—			—			—
Transfers out of Level 3	(15,417		)	—			(835		)	(4,333		)
Fair value, end of period	$	68,563		$	26,265		$	38,342		$	14,065
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	2,718		$	(48	)	$	32		$	—
Investment related gains (losses), net	(3,593		)	—			—			—



For the year ended December 31, 2015 (continued):
	Funds withheld at interest-embedded derivatives			Other invested assets - non- redeemable preferred stock			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	(98,792		)	—			—			(33,191		)	—
Interest credited	—			—			—			19,440			—
Included in other comprehensive income	—			(412		)	(959		)	—			—
Other revenue	—			—			8,228			—			(1,822		)
Purchases⁽¹⁾	—			4,529			—			(42,798		)	—
Settlements⁽¹⁾	—			—			—			71,131			—
Transfers out of Level 3	—			(12,021		)	—			—			—
Fair value, end of period	$	(76,698	)	$	—		$	14,996		$	(1,070,584	)	$	(2,619	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	(98,792	)	$	—		$	—		$	(43,496	)	$	—
Other revenue	—			—			8,228			—			(1,822		)
Interest credited	—			—			—			(51,691		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

The tables below provide a summary of the changes in fair value of Level 3 assets and liabilities for the year ended December 31, 2014, as well as the portion of gains or losses included in income for the year ended December 31, 2014 attributable to unrealized gains or losses related to those assets and liabilities still held at December 31, 2014 (dollars in thousands).



For the year ended December 31, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage-backed securities			Asset-backed securities			Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,345,289		$	153,505		$	471,848		$	101,785		$	40,919		$	43,776
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(4,828		)	(93		)	7,929			1,892			(483		)	39
Investment related gains (losses), net	(1,984		)	(244		)	2,131			103			(401		)	(17		)
Included in other comprehensive income	(3,100		)	1,748			1,665			1,099			1,052			3,282
Purchases⁽¹⁾	356,706			54,412			191,662			6,180			581			—
Sales⁽¹⁾	(54,386		)	(744		)	(22,923		)	(14,626		)	—			—
Settlements⁽¹⁾	(273,392		)	(34,727		)	(54,175		)	(3,599		)	(13,139		)	(738		)
Transfers into Level 3	13,180			15,981			11,614			5,712			—			—
Transfers out of Level 3	(67,058		)	(1,744		)	(36,791		)	(11,800		)	—			(3,631		)
Fair value, end of period	$	1,310,427		$	188,094		$	572,960		$	86,746		$	28,529		$	42,711
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(4,686	)	$	(97	)	$	5,306		$	1,949		$	(480	)	$	39



For the year ended December 31, 2014 (continued):	Fixed maturity securities - available-for-sale
		Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest-embedded derivatives			Other invested assets - non- redeemable preferred stock			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period		$	37,997		$	(176,270	)	$	4,962		$	—		$	(868,725	)	$	—
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses		(5		)	—			—			—			—			—
Investment related gains (losses), net		—			198,364			—			—			(129,224		)	—
Interest credited		—			—			—			—			(104,843		)	—
Included in other comprehensive income		(59		)	—			(96		)	(361		)	—			—
Other revenue		—			—			—			8,088			—			(797		)
Purchases⁽¹⁾		—			—			8,000			—			(56,234		)	—
Settlements⁽¹⁾		(1,210		)	—			—			—			—			—
Transfers into Level 3		9,482			—			—			—			73,860			—
Transfers out of Level 3		(26,542		)	—			(4,962		)	—			—			—
Fair value, end of period		$	19,663		$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses		$	(5	)	$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net		—			—			—			—			(134,254		)	—
Other revenue		—			—			—			8,088			—			(797		)
Interest credited		—			198,365			—			—			(178,704		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the year ended December 31, 2016:	Fixed maturity securities - available-for-sale
	Corporate securities			Canadian and Canadian provincial governments		Residential mortgage-backed securities			Asset-backed securities
Fair value, beginning of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,399		)	12,197		(595		)	801
Investment related gains (losses), net	(4,756		)	—		(2,153		)	1,101
Included in other comprehensive income	10,022			47,692		(1,621		)	(2,696		)
Purchases⁽¹⁾	312,720			—		103,553			138,522
Sales⁽¹⁾	(60,399		)	—		(167,684		)	(38,681		)
Settlements⁽¹⁾	(195,016		)	—		(38,495		)	(61,770		)
Transfers into Level 3	14,098			—		1,728			56,105
Transfers out of Level 3	(28,987		)	—		(65,091		)	(177,938		)
Fair value, end of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,343	)	$	12,197	$	(158	)	$	734
Investment related gains (losses), net	(817		)	—		(231		)	—



For the year ended December 31, 2016 (continued):	Fixed maturity securities - available-for-sale
	Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Short-term investments
Fair value, beginning of period	$	68,563		$	26,265		$	38,342		$	14,065		$	—
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1,677			(487		)	215			—			—
Investment related gains (losses), net	(876		)	—			—			—			—
Included in other comprehensive income	(5,887		)	39			962			110			—
Purchases⁽¹⁾	1,545			508			6,952			—			3,365
Sales⁽¹⁾	(41,143		)	—			—			—			—
Settlements⁽¹⁾	(552		)	(1,837		)	(599		)	(1,306		)	(19		)
Transfers into Level 3	—			—			—			—			—
Transfers out of Level 3	(2,182		)	—			(4,206		)	—			—
Fair value, end of period	$	21,145		$	24,488		$	41,666		$	12,869		$	3,346
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	1,552		$	(487	)	$	215		$	—		$	—



For the year ended December 31, 2016 (continued):
	Funds withheld at interest-embedded derivatives			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	(76,698	)	$	14,996		$	(1,070,584	)	$	(2,619	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	54,169			—			7,834			—
Interest credited	—			—			10,709			—
Included in other comprehensive income	—			(1,133		)	—			—
Other revenue	—			13,095			—			(172		)
Purchases⁽¹⁾	—			—			(12,725		)	—
Settlements⁽¹⁾	—			—			74,458			329
Fair value, end of period	$	(22,529	)	$	26,958		$	(990,308	)	$	(2,462	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	54,169		$	—		$	(4,579	)	$	—
Other revenue	—			13,095			—			(172		)
Interest credited	—			—			(63,748		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.



For the year ended December 31, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Canadian and Canadian provincial governments		Residential mortgage-backed securities			Asset-backed securities
Fair value, beginning of period	$	1,310,427		$	—	$	188,094		$	572,960
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(3,517		)	2,788		(1,754		)	4,526
Investment related gains (losses), net	(2,814		)	—		(216		)	808
Included in other comprehensive income	(32,452		)	70,144		(944		)	(2,490		)
Purchases⁽¹⁾	243,871			—		249,208			229,220
Sales⁽¹⁾	(3,949		)	—		(985		)	(13,105		)
Settlements⁽¹⁾	(279,495		)	—		(39,494		)	(98,918		)
Transfers into Level 3	15,455			343,144		2,853			13,542
Transfers out of Level 3	(20,556		)	—		(66,113		)	(402,707		)
Fair value, end of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(3,396	)	$	2,788	$	(1,753	)	$	2,465
Investment related gains (losses), net	(2,278		)	—		—			—



For the year ended December 31, 2015 (continued):	Fixed maturity securities - available-for-sale
	Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises
Fair value, beginning of period	$	86,746		$	28,529		$	42,711		$	19,663
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	2,817			(48		)	32			—
Investment related gains (losses), net	(4,737		)	(233		)	(19		)	—
Included in other comprehensive income	(337		)	(602		)	(3,055		)	(7		)
Purchases⁽¹⁾	42			544			—			—
Sales⁽¹⁾	(6,153		)	—			—			—
Settlements⁽¹⁾	(7,226		)	(1,925		)	(492		)	(1,258		)
Transfers into Level 3	12,828			—			—			—
Transfers out of Level 3	(15,417		)	—			(835		)	(4,333		)
Fair value, end of period	$	68,563		$	26,265		$	38,342		$	14,065
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	2,718		$	(48	)	$	32		$	—
Investment related gains (losses), net	(3,593		)	—			—			—



For the year ended December 31, 2015 (continued):
	Funds withheld at interest-embedded derivatives			Other invested assets - non- redeemable preferred stock			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	(98,792		)	—			—			(33,191		)	—
Interest credited	—			—			—			19,440			—
Included in other comprehensive income	—			(412		)	(959		)	—			—
Other revenue	—			—			8,228			—			(1,822		)
Purchases⁽¹⁾	—			4,529			—			(42,798		)	—
Settlements⁽¹⁾	—			—			—			71,131			—
Transfers out of Level 3	—			(12,021		)	—			—			—
Fair value, end of period	$	(76,698	)	$	—		$	14,996		$	(1,070,584	)	$	(2,619	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	(98,792	)	$	—		$	—		$	(43,496	)	$	—
Other revenue	—			—			8,228			—			(1,822		)
Interest credited	—			—			—			(51,691		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.



For the year ended December 31, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage-backed securities			Asset-backed securities			Commercial mortgage-backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,345,289		$	153,505		$	471,848		$	101,785		$	40,919		$	43,776
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(4,828		)	(93		)	7,929			1,892			(483		)	39
Investment related gains (losses), net	(1,984		)	(244		)	2,131			103			(401		)	(17		)
Included in other comprehensive income	(3,100		)	1,748			1,665			1,099			1,052			3,282
Purchases⁽¹⁾	356,706			54,412			191,662			6,180			581			—
Sales⁽¹⁾	(54,386		)	(744		)	(22,923		)	(14,626		)	—			—
Settlements⁽¹⁾	(273,392		)	(34,727		)	(54,175		)	(3,599		)	(13,139		)	(738		)
Transfers into Level 3	13,180			15,981			11,614			5,712			—			—
Transfers out of Level 3	(67,058		)	(1,744		)	(36,791		)	(11,800		)	—			(3,631		)
Fair value, end of period	$	1,310,427		$	188,094		$	572,960		$	86,746		$	28,529		$	42,711
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(4,686	)	$	(97	)	$	5,306		$	1,949		$	(480	)	$	39



For the year ended December 31, 2014 (continued):	Fixed maturity securities - available-for-sale
		Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest-embedded derivatives			Other invested assets - non- redeemable preferred stock			Other assets - longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period		$	37,997		$	(176,270	)	$	4,962		$	—		$	(868,725	)	$	—
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses		(5		)	—			—			—			—			—
Investment related gains (losses), net		—			198,364			—			—			(129,224		)	—
Interest credited		—			—			—			—			(104,843		)	—
Included in other comprehensive income		(59		)	—			(96		)	(361		)	—			—
Other revenue		—			—			—			8,088			—			(797		)
Purchases⁽¹⁾		—			—			8,000			—			(56,234		)	—
Settlements⁽¹⁾		(1,210		)	—			—			—			—			—
Transfers into Level 3		9,482			—			—			—			73,860			—
Transfers out of Level 3		(26,542		)	—			(4,962		)	—			—			—
Fair value, end of period		$	19,663		$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses		$	(5	)	$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net		—			—			—			—			(134,254		)	—
Other revenue		—			—			—			8,088			—			(797		)
Interest credited		—			198,365			—			—			(178,704		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value Assets Measured On Nonrecurring Basis [Text Block]

Nonrecurring Fair Value Measurements

The following table presents information for assets measured at estimated fair value on a nonrecurring basis during the periods presented and still held at the reporting dates (for example, when there is evidence of impairment). The estimated fair values for these assets were determined using significant unobservable inputs.



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At December 31,					Years ended December 31,
(dollars in thousands)	2016		2015			2016			2015
Mortgage loans⁽¹⁾	$	—	$	11,800		$	—		$	228
Limited partnership interests⁽²⁾	6,192		12,520			(9,277		)	(6,550		)


(1)	Estimated fair values for impaired mortgage loans are based on internal valuation models using unobservable inputs or, if the loans are in foreclosure or are otherwise determined to be collateral dependent, are based on external appraisals of the underlying collateral.


(2)	The impaired limited partnership interests presented above were accounted for using the cost method. Impairments on these cost method investments were recognized at estimated fair value determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. The market for these investments has limited activity and price transparency.

Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block]

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, at December 31, 2016 and December 31, 2015 (dollars in thousands).This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.



			Estimated Fair		Fair Value Measurement Using:
December 31, 2016:	Carrying Value		Value		Level 1		Level 2		Level 3		NAV
Assets:
Mortgage loans on real estate	$	3,775,522	$	3,786,987	$	—	$	—	$	3,786,987	$	—
Policy loans	1,427,602		1,427,602		—		1,427,602		—		—
Funds withheld at interest⁽¹⁾	5,893,381		6,193,166		—		—		6,193,166		—
Cash and cash equivalents⁽²⁾	862,117		862,117		862,117		—		—		—
Short-term investments⁽²⁾	32,469		32,469		32,469		—		—		—
Other invested assets⁽²⁾	477,132		510,640		26,294		55,669		131,904		296,773
Accrued investment income	347,173		347,173		—		347,173		—		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	10,225,099	$	10,234,544	$	—	$	—	$	10,234,544	$	—
Long-term debt	3,088,635		3,186,173		—		—		3,186,173		—
Collateral finance and securitization notes	840,700		745,805		—		—		745,805		—

December 31, 2015:
Assets:
Mortgage loans on real estate	$	3,129,951	$	3,197,808	$	—	$	—	$	3,197,808	$	—
Policy loans	1,468,796		1,468,796		—		1,468,796		—		—
Funds withheld at interest⁽¹⁾	5,956,380		6,311,780		—		—		6,311,780		—
Cash and cash equivalents⁽²⁾	1,118,754		1,118,754		1,118,754		—		—		—
Short-term investments⁽²⁾	27,511		27,511		27,511		—		—		—
Other invested assets⁽²⁾	399,799		444,342		4,445		34,886		111,412		293,599
Accrued investment income	339,452		339,452		—		339,452		—		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	9,746,870	$	9,841,576	$	—	$	—	$	9,841,576	$	—
Long-term debt	2,297,548		2,415,119		—		—		2,415,119		—
Collateral finance and securitization notes	899,161		791,275		—		—		791,275		—


(1)	Carrying values presented herein differ from those presented in the consolidated balance sheets because certain items within the respective financial statement caption are embedded derivatives and are measured at fair value on a recurring basis.


(2)	Carrying values presented herein differ from those presented in the consolidated balance sheets because certain items within the respective financial statement caption are measured at fair value on a recurring basis.