DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)

12 Months Ended

Dec. 31, 2015

Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]

Schedule of balances and changes in DAC

The balances and changes in DAC are as follows:

	Successor Company			Predecessor Company
	February 1, 2015 to December 31, 2015			January 1, 2015 to January 31, 2015			As of
							December 31, 2014
	(Dollars In Thousands)			(Dollars In Thousands)
Balance, beginning of period	$	—		$	2,653,065		$	2,720,604
Capitalization of commissions, sales, and issue expenses	306,237			22,820			293,672
Amortization	(24,699		)	1,080			(194,517		)
Change in unrealized investment gains and losses	9,959			(96,830		)	(166,694		)
Balance, end of period	$	291,497		$	2,580,135		$	2,653,065

Schedule of balances and changes in VOBA

The balances and changes in VOBA are as follows:

	Successor Company			Predecessor Company
	February 1, 2015 to December 31, 2015			January 1, 2015 to January 31, 2015			As of
							December 31, 2014
	(Dollars In Thousands)			(Dollars In Thousands)
Balance, beginning of period	$	1,278,063		$	501,981		$	756,018
Amortization	(70,367		)	(5,895		)	(113,803		)
Change in unrealized gains and losses	69,226			(79,417		)	(140,234		)
Other	(6,046		)	—			—
Balance, end of period	$	1,270,876		$	416,669		$	501,981

Schedule of estimated amortization of VOBA for the next five years

Based on the balance recorded as of December 31, 2015 (Successor Company), the expected amortization of VOBA for the next five years is as follows:

	Expected
Years	Amortization
	(Dollars In Thousands)
2016	$	131,942
2017	122,210
2018	112,332
2019	96,942
2020	80,542