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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Jun. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Summary of Changes in the Accumulated Balances for Each Component of AOCI
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of June 30, 2017 and December 31, 2016.
Changes in Accumulated Other Comprehensive Income (Loss) by Component 
 
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2016
 
$
(655,767
)
 
$
727

 
$
(655,040
)
Other comprehensive income (loss) before reclassifications
 
447,332

 
(792
)
 
446,540

Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
6,286

 
—

 
6,286

Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
(265
)
 
233

 
(32
)
Net current-period other comprehensive income (loss)
 
453,353

 
(559
)
 
452,794

Ending Balance, June 30, 2017
 
$
(202,414
)
 
$
168

 
$
(202,246
)
 
 
 
 
 
 
 
(1)  See Reclassification table below for details.
(2)  As of June 30, 2017, net unrealized losses reported in AOCI were offset by $158.5 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2015
 
$
(1,246,391
)
 
$
—

 
$
(1,246,391
)
Other comprehensive income (loss) before reclassifications
 
606,848

 
688

 
607,536

Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(6,782
)
 
—

 
(6,782
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
(9,442
)
 
39

 
(9,403
)
Net current-period other comprehensive income (loss)
 
590,624

 
727

 
591,351

Ending Balance, December 31, 2016
 
$
(655,767
)
 
$
727

 
$
(655,040
)
 
 
 
 
 
 
 
(1) See Reclassification table below for details.
(2)  As of December 31, 2015 and December 31, 2016, net unrealized losses reported in AOCI were offset by $623.0 million and $424.1 million, respectively, due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Schedule of Reclassifications Amounts Out of AOCI
The following tables summarize the reclassifications amounts out of AOCI for the three and six months ended June 30, 2017 and 2016.
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
For The Three Months Ended June 30, 2017
 
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Gains and losses on derivative instruments
 
 
 
 
Net settlement (expense)/benefit(1)
 
$
(153
)
 
Benefits and settlement expenses, net of reinsurance ceded
 
 
(153
)
 
Total before tax
 
 
53

 
Tax (expense) or benefit
 
 
$
(100
)
 
Net of tax
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
(1,087
)
 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(2,785
)
 
Net impairment losses recognized in earnings
 
 
(3,872
)
 
Total before tax
 
 
1,355

 
Tax (expense) or benefit
 
 
$
(2,517
)
 
Net of tax
 
 
 
 
 
(1) See Note 6, Derivative Financial Instruments for additional information
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
For The Six Months Ended June 30, 2017
 
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Gains and losses on derivative instruments
 
 
 
 
Net settlement (expense)/benefit(1)
 
$
(358
)
 
Benefits and settlement expenses, net of reinsurance ceded
 
 
(358
)
 
Total before tax
 
 
125

 
Tax (expense) or benefit
 
 
$
(233
)
 
Net of tax
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
8,394

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(7,986
)
 
Net impairment losses recognized in earnings
 
 
408

 
Total before tax
 
 
(143
)
 
Tax (expense) or benefit
 
 
$
265

 
Net of tax
 
 
 
 
 
(1) See Note 6, Derivative Financial Instruments for additional information
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
For The Three Months Ended June 30, 2016
 
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
16,932

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(967
)
 
Net impairment losses recognized in earnings
 
 
15,965

 
Total before tax
 
 
(5,588
)
 
Tax (expense) or benefit
 
 
$
10,377

 
Net of tax

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
For The Six Months Ended June 30, 2016
 
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 
 

 
 
Net investment gains (losses)
 
$
22,468

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
 
(3,584
)
 
Net impairment losses recognized in earnings
 
 
18,884

 
Total before tax
 
 
(6,610
)
 
Tax (expense) or benefit
 
 
$
12,274

 
Net of tax