Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below (in thousands):

	Net Unrealized Gains (Losses) on Securities		Defined Benefit Pension Plan Adjustments		Foreign Currency Adjustments		Accumulated Other Comprehensive Income (Loss)
Beginning balance at January 1, 2020	$	157,851	$	(55,232)	$	(3,101)	$	99,518
Amounts reclassified from AOCI (net of tax expense $2,554 and $467)	9,606		1,756		—		11,362
Unrealized holding losses arising during the period (net of tax benefit $53,533)	(201,385)		—		—		(201,385)
Unrealized adjustment to DAC (net of tax expense $18,759)	70,567		—		—		70,567
Unrealized losses on investments attributable to participating policyholders’ interest (net of tax expense $2,342)	8,809		—		—		8,809
Foreign currency adjustment (net of tax benefit $246)	—		—		(924)		(924)
Ending balance at March 31, 2020	$	45,448	$	(53,476)	$	(4,025)	$	(12,053)
Beginning balance at January 1, 2019	$	(42,469)	$	(54,236)	$	(3,033)	$	(99,738)
Amounts reclassified from AOCI (net of tax benefit $490 and expense $376)	(1,843)		1,416		—		(427)
Unrealized holding gains arising during the period (net of tax expense $33,004)	124,158		—		—		124,158
Unrealized adjustment to DAC (net of tax benefit $8,167)	(30,726)		—		—		(30,726)
Unrealized gains on investments attributable to participating policyholders’ interest (net of tax benefit $1,615)	(6,075)		—		—		(6,075)
Foreign currency adjustment (net of tax benefit $41)	—		—		(156)		(156)
Cumulative effect of changes in accounting	16,166		(16,493)		(458)		(785)
Ending balance at March 31, 2019	$	59,211	$	(69,313)	$	(3,647)	$	(13,749)