Business Combinations (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of fair value of net assets acquired

The following table presents the fair values of the net assets acquired as of January 31, 2019.



	January 31, 2019
Assets	Fair value
	(In thousands)

Debt securities held to maturity	$	261,059
Debt securities available for sale	400,719
Policy loans	28,128
Real estate	4,600
Cash and cash equivalents	16,275
Accrued investment income	6,116
Value of business acquired	145,768
Reinsurance recoverables	21,895
Other intangible assets	9,600
Other assets acquired	12,075
Total assets acquired	906,235

Liabilities
Traditional life reserves	691,297
Other policyholder liabilities	13,867
Other liabilities acquired	5,840
	711,004

Net identifiable assets acquired	195,231
Goodwill	13,864
Net assets acquired	$	209,095

Schedule of fair value of identifiable intangible assets acquired

The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019:



	Fair Value		Weighted-Average Amortization Period
	(In thousands)

Trademarks / trade names	$	2,800	15
Internally developed software	3,800		7
Insurance licenses	3,000		NA
	$	9,600

Schedule of expected amortization of VOBA

Based upon the remaining unamortized balance as of September 30, 2019, the expected amortization for the next five years is as follows:



	Expected Amortization
	(In thousands)

Remainder of 2019	$	1,961
2020	$	7,446
2021	$	7,068
2022	$	6,739
2023	$	6,445

Schedule of pro forma total revenues and net earnings

The following unaudited comparative pro forma total revenues and net earnings represent Condensed Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS by the Company been effective January 1, 2018.



	Three Months Ended September 30,			Nine Months Ended September 30
	2019		2018	2019	2018
	(In thousands)


Total revenues	$	173,166	254,174	593,402	595,964

Net earnings	$	19,989	39,986	95,341	107,726