DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The major assets and liability categories were as follows as of the dates indicated:

Discontinued Operations
Balance Sheets
	December 31,
(In Thousands, Except Share Data)	2018		2017
Assets
Investments
Fixed maturities
Held-to-maturity, at amortized cost (fair value $0 in 2018 and $34 in 2017)	$	—	$	34
Available-for-sale, at fair value (amortized cost $0 in 2018 and $1,412,291 in 2017)	—		1,430,025
Equity Securities available-for-sale, at fair value (cost $0 in 2018 and $5,099 in 2017)	—		23,653
Mortgage loans	—		3,435
Policy loans	—		5,815
Other long-term investments	—		16,437
	—		1,479,399
Cash and cash equivalents	—		15,851
Deferred policy acquisition costs	—		71,151
Other assets	—		19,733
Total assets held for sale	$	—	$	1,586,134
Liabilities
Future policy benefits and losses	$	—	$	1,320,401
Deferred income taxes	—		18,716
Accrued expenses and other liabilities	—		8,018
Total liabilities held for sale	$	—	$	1,347,135

Summary operating results of discontinued operations were as follows for the periods indicated:

Discontinued Operations
Statements of Income
	For the Years Ended December 31,
(In Thousands, Except Share Data)	2018			2017		2016
Revenues
Net premiums earned	$	13,003		$	61,368	$	87,270
Investment income, net of investment expenses	12,663			49,720		51,538
Total net realized investment gains (losses)	(1,057		)	4,008		1,156
Other income	146			617		621
Total revenues	$	24,755		$	115,713	$	140,585
Benefits, Losses and Expenses
Losses and loss settlement expenses	$	10,823		$	40,451	$	31,365
Increase in liability for future policy benefits	5,023			27,632		59,969
Amortization of deferred policy acquisition costs	1,895			5,181		8,121
Other underwriting expenses	3,864			13,281		19,881
Interest on policyholders’ accounts	4,499			18,525		20,079
Total benefits, losses and expenses	$	26,104		$	105,070	$	139,415
Income (loss) from discontinued operations before income taxes	$	(1,349	)	$	10,643	$	1,170
Federal income tax expense	563			4,490		384
Net income (loss) from discontinued operations	$	(1,912	)	$	6,153	$	786
Earnings per common share from discontinued operations:
Basic	$	(0.08	)	$	0.24	$	0.03
Diluted	(0.07		)	0.24		0.03