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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2015
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2014
Successor        
Revenues        
Premiums and policy fees   $ 2,992,822 $ 3,389,419  
Reinsurance ceded   (1,174,871) (1,330,723)  
Net of reinsurance ceded   1,817,951 2,058,696  
Net investment income   1,532,796 1,823,463  
Realized investment gains (losses):        
Derivative financial instruments   58,436 49,790  
All other investments   (166,935) 90,630  
Other-than-temporary impairment losses   (28,659) (32,075)  
Portion recognized in other comprehensive income (before taxes)   1,666 14,327  
Net impairment losses recognized in earnings   (26,993) (17,748)  
Other income   271,787 288,878  
Total revenues   3,487,042 4,293,709  
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (Successor 2016 - $1,176,609; 2015 - $1,022,638); (Predecessor 2015 - $87,830; 2014 - $1,223,804)   2,535,388 2,876,726  
Amortization of deferred policy acquisition costs and value of business acquired   95,064 150,298  
Other operating expenses, net of reinsurance ceded: (Successor 2016 - $210,270; 2015 - $196,383); (Predecessor 2015 - $17,700; 2014 - $199,824)   602,402 744,004  
Total benefits and expenses   3,232,854 3,771,028  
Income before income tax   254,188 522,681  
Income tax (benefit) expense        
Current   46,722 (38,663)  
Deferred   27,769 208,736  
Total income tax expense   74,491 170,073  
Net income   $ 179,697 $ 352,608  
Predecessor        
Revenues        
Premiums and policy fees $ 260,582     $ 3,283,069
Reinsurance ceded (91,632)     (1,395,743)
Net of reinsurance ceded 168,950     1,887,326
Net investment income 164,605     2,098,013
Realized investment gains (losses):        
Derivative financial instruments 22,031     (13,492)
All other investments 81,153     205,302
Other-than-temporary impairment losses (636)     (2,589)
Portion recognized in other comprehensive income (before taxes) 155     (4,686)
Net impairment losses recognized in earnings (481)     (7,275)
Other income 23,388     294,333
Total revenues 459,646     4,464,207
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (Successor 2016 - $1,176,609; 2015 - $1,022,638); (Predecessor 2015 - $87,830; 2014 - $1,223,804) 266,575     2,786,463
Amortization of deferred policy acquisition costs and value of business acquired 4,817     308,320
Other operating expenses, net of reinsurance ceded: (Successor 2016 - $210,270; 2015 - $196,383); (Predecessor 2015 - $17,700; 2014 - $199,824) 55,407     630,635
Total benefits and expenses 326,799     3,725,418
Income before income tax 132,847     738,789
Income tax (benefit) expense        
Current (47,384)     181,763
Deferred 91,709     65,075
Total income tax expense 44,325     246,838
Net income $ 88,522     $ 491,951