OFFSETTING OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2017

Offsetting [Abstract]

Schedule of Derivative Instruments by Assets

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2016.

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	417,769	$	—	$	417,769	$	171,384	$	100,890	$	145,495
Total derivatives, subject to a master netting arrangement or similar arrangement	417,769		—		417,769		171,384		100,890		145,495
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	2,573		—		2,573		—		—		2,573
Embedded derivative - GLWB	64,064		—		64,064		—		—		64,064
Derivatives with PLC	48,878		—		48,878		—		—		48,878
Other	149		—		149		—		—		149
Total derivatives, not subject to a master netting arrangement or similar arrangement	115,664		—		115,664		—		—		115,664
Total derivatives	533,433		—		533,433		171,384		100,890		261,159
Total Assets	$	533,433	$	—	$	533,433	$	171,384	$	100,890	$	261,159

The tables below present the assets and liabilities subject to master netting agreements as of June 30, 2017.

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	429,369	$	—	$	429,369	$	202,402	$	113,092	$	113,875
Total derivatives, subject to a master netting arrangement or similar arrangement	429,369		—		429,369		202,402		113,092		113,875
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	676		—		676		—		—		676
Embedded derivative - GLWB	61,096		—		61,096		—		—		61,096
Derivatives with PLC	31,473		—		31,473		—		—		31,473
Other	149		—		149		—		—		149
Total derivatives, not subject to a master netting arrangement or similar arrangement	93,394		—		93,394		—		—		93,394
Total derivatives	522,763		—		522,763		202,402		113,092		207,269
Total Assets	$	522,763	$	—	$	522,763	$	202,402	$	113,092	$	207,269

Schedule of Derivative Instruments by Liabilities

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	176,979	$	—	$	176,979	$	171,384	$	5,595	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	176,979		—		176,979		171,384		5,595		—
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	141,301		—		141,301		—		—		141,301
Funds withheld derivative	91,267		—		91,267		—		—		91,267
Embedded derivative - GLWB	71,082		—		71,082		—		—		71,082
Embedded derivative - FIA	147,368		—		147,368		—		—		147,368
Embedded derivative - IUL	46,051		—		46,051		—		—		46,051
Total derivatives, not subject to a master netting arrangement or similar arrangement	497,069		—		497,069		—		—		497,069
Total derivatives	674,048		—		674,048		171,384		5,595		497,069
Repurchase agreements(1)	797,721		—		797,721		—		—		797,721
Total Liabilities	$	1,471,769	$	—	$	1,471,769	$	171,384	$	5,595	$	1,294,790
(1) Borrowings under repurchase agreements are for a term less than 90 days.

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	203,002	$	—	$	203,002	$	202,402	$	600	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	203,002		—		203,002		202,402		600		—
Derivatives, not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	196,882		—		196,882		—		—		196,882
Funds withheld derivative	69,777		—		69,777		—		—		69,777
Embedded derivative - GLWB	81,908		—		81,908		—		—		81,908
Embedded derivative - FIA	191,226		—		191,226		—		—		191,226
Embedded derivative - IUL	62,747		—		62,747		—		—		62,747
Total derivatives, not subject to a master netting arrangement or similar arrangement	602,540		—		602,540		—		—		602,540
Total derivatives	805,542		—		805,542		202,402		600		602,540
Repurchase agreements(1)	413,589		—		413,589		—		—		413,589
Total Liabilities	$	1,219,131	$	—	$	1,219,131	$	202,402	$	600	$	1,016,129
(1) Borrowings under repurchase agreements are for a term less than 90 days.