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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues                      
Premiums and policy fees $ 965,275 $ 871,892 $ 935,928 $ 883,413 $ 888,134 $ 849,743 $ 862,906 $ 855,579 $ 3,656,508 $ 3,456,362 $ 3,389,419
Reinsurance ceded (378,112) (267,910) (391,864) (345,624) (377,261) (326,572) (344,208) (319,055) (1,383,510) (1,367,096) (1,330,723)
Net of reinsurance ceded 587,163 603,982 544,064 537,789 510,873 523,171 518,698 536,524 2,272,998 2,089,266 2,058,696
Net investment income 639,115 631,955 578,414 489,418 495,614 477,011 475,722 474,709 2,338,902 1,923,056 1,823,463
Realized investment gains (losses):                      
Derivative financial instruments                 79,097 (137,041) 49,790
All other investments                 (223,276) 121,087 90,630
Other-than-temporary impairment losses                 (56,578) (1,332) (32,075)
Portion recognized in other comprehensive income (before taxes)                 26,854 (7,780) 14,327
Net impairment losses recognized in earnings (26,060) (14) (5) (3,645) (853) (273) (2,785) (5,201) (29,724) (9,112) (17,748)
Other income 79,685 80,906 79,754 80,674 81,910 82,031 82,087 79,383 321,019 325,411 288,878
Total revenues 1,255,898 1,269,963 1,169,644 1,063,511 1,096,456 1,105,392 1,063,463 1,047,356 4,759,016 4,312,667 4,293,709
Benefits and expenses                      
Benefits and settlement expenses, net of reinsurance ceded: (2018 - $1,185,929; 2017 - $1,235,227; 2016 - $1,176,609)                 3,511,252 2,955,005 2,876,726
Amortization of deferred policy acquisition costs and value of business acquired                 226,066 79,443 150,298
Other operating expenses, net of reinsurance ceded: (2018 - $210,816; 2017 - $226,578; 2016 - $210,270)                 774,110 814,211 744,004
Total benefits and expenses 1,186,310 1,174,793 1,108,750 1,041,575 1,018,360 939,410 930,177 960,712 4,511,428 3,848,659 3,771,028
Income before income tax 69,588 95,170 60,894 21,936 78,096 165,982 133,286 86,644 247,588 464,008 522,681
Income tax (benefit) expense                      
Current                 123,624 36,565 (38,663)
Deferred                 (69,963) (754,974) 208,736
Total income tax expense (benefit) 24,728 16,646 8,626 3,661 (839,384) 49,016 43,654 28,305 53,661 (718,409) 170,073
Net income $ 44,860 $ 78,524 $ 52,268 $ 18,275 $ 917,480 $ 116,966 $ 89,632 $ 58,339 $ 193,927 $ 1,182,417 $ 352,608