Derivative Investments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative instruments

The tables below present the fair value of derivative instruments as of September 30, 2019 and December 31, 2018, respectively.

	September 30, 2019
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	106,364
Fixed-index products				Universal Life and Annuity Contracts	$	110,272
Total		$	106,364		$	110,272

	December 31, 2018
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	14,684
Fixed-index products				Universal Life and Annuity Contracts	$	44,781
Total		$	14,684		$	44,781

Schedule of derivative instruments in the Condensed Consolidated Statements of Earnings

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended September 30, 2019 and 2018.

		September 30, 2019		September 30, 2018
Derivatives Not Designated  As Hedging Instruments	Location of Gain  or (Loss) Recognized In Income on Derivatives	Amount of Gain or  (Loss) Recognized in  Income on Derivatives
		(In thousands)
Equity index options	Net investment income	$	3,296	69,683
Fixed-index products	Universal life and annuity contract interest	3,533		(63,602	)
		$	6,829	6,081

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2019 and 2018.

		September 30, 2019			September 30, 2018
Derivatives Not Designated  As Hedging Instruments	Location of Gain  or (Loss) Recognized In Income on Derivatives	Amount of Gain or  (Loss) Recognized in  Income on Derivatives
		(In thousands)
Equity index options	Net investment income	$	63,127		35,581
Fixed-index products	Universal life and annuity contract interest	(36,937		)	(30,074	)
		$	26,190		5,507