OFFSETTING OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 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		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 September 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		Collateral Received		Net Amount
	(Dollars In Thousands)
Offsetting of Assets
Derivatives:
Free-Standing derivatives	$	441,393	$	—	$	441,393	$	211,435	$	102,913	$	127,045
Total derivatives, subject to a master netting arrangement or similar arrangement	441,393		—		441,393		211,435		102,913		127,045
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	1,008		—		1,008		—		—		1,008
Embedded derivative - GLWB	65,176		—		65,176		—		—		65,176
Derivatives with PLC	83,549		—		83,549		—		—		83,549
Other	191		—		191		—		—		191
Total derivatives, not subject to a master netting arrangement or similar arrangement	149,924		—		149,924		—		—		149,924
Total derivatives	591,317		—		591,317		211,435		102,913		276,969
Total Assets	$	591,317	$	—	$	591,317	$	211,435	$	102,913	$	276,969

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		Collateral Posted		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		Collateral Posted		Net Amount
	(Dollars In Thousands)
Offsetting of Liabilities
Derivatives:
Free-Standing derivatives	$	230,082	$	—	$	230,082	$	211,435	$	18,647	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	230,082		—		230,082		211,435		18,647		—
Derivatives, not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	209,334		—		209,334		—		—		209,334
Funds withheld derivative	50,523		—		50,523		—		—		50,523
Embedded derivative - GLWB	85,502		—		85,502		—		—		85,502
Embedded derivative - FIA	197,378		—		197,378		—		—		197,378
Embedded derivative - IUL	69,081		—		69,081		—		—		69,081
Total derivatives, not subject to a master netting arrangement or similar arrangement	611,818		—		611,818		—		—		611,818
Total derivatives	841,900		—		841,900		211,435		18,647		611,818
Repurchase agreements(1)	493,785		—		493,785		—		—		493,785
Total Liabilities	$	1,335,685	$	—	$	1,335,685	$	211,435	$	18,647	$	1,105,603
(1) Borrowings under repurchase agreements are for a term less than 90 days.