XML 52 R39.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

Intangible assets recognized by the Company included the following (excluding goodwill):



	As of December 31,				Estimated
	2018		2017		Useful Life
	(Dollars In Thousands)				(In Years)
Distribution relationships	$	377,441	$	402,975	14-22
Trade names	78,629		85,340		13-17
Technology	93,433		107,343		7-14
Other	31,351		35,258
Total intangible assets subject to amortization	580,854		630,916

Insurance licenses	32,000		32,000		Indefinite
Total intangible assets	$	612,854	$	662,916

Intangible assets recognized by the Company included the following (excluding goodwill):



	As of December 31,				Estimated
	2018		2017		Useful Life
	(Dollars In Thousands)				(In Years)
Distribution relationships	$	377,441	$	402,975	14-22
Trade names	78,629		85,340		13-17
Technology	93,433		107,343		7-14
Other	31,351		35,258
Total intangible assets subject to amortization	580,854		630,916

Insurance licenses	32,000		32,000		Indefinite
Total intangible assets	$	612,854	$	662,916

The following is a schedule of future estimated aggregate amortization expense:

Property and equipment consisted of the following:



	As of December 31,
	2018			2017
	(Dollars In Thousands)
Home office building	$	144,669		$	68,123
Data processing equipment	28,793			24,102
Other, principally furniture and equipment	16,450			13,871
Total property and equipment subject to depreciation	189,912			106,096
Accumulated depreciation	(30,989		)	(21,305		)
Land	24,920			24,920
Total property and equipment	$	183,843		$	109,711

As of December 31, 2018, future maturities of stable value products were as follows:

Future policy benefit liabilities for the year indicated are as follows:



	As of December 31,
	2018		2017		2018		2017
	Total Policy Liabilities and Accruals				Reinsurance Receivable
	(Dollars In Thousands)
Life and annuity benefit reserves	$	40,883,229	$	29,972,938	$	3,573,500	$	3,885,546
Unpaid life claim liabilities	654,077		595,188		383,620		362,833
Life and annuity future policy benefits	41,537,306		30,568,126		3,957,120		4,248,379
Other policy benefits reserves	142,855		157,101		80,688		92,330
Other policy benefits unpaid claim liabilities	220,457		231,565		175,591		185,366
Future policy benefits and claims and associated reinsurance receivable	$	41,900,618	$	30,956,792	$	4,213,399	$	4,526,075
Unearned premiums	769,620		751,130		272,630		274,816
Total policy liabilities and accruals and associated reinsurance receivable	$	42,670,238	$	31,707,922	$	4,486,029	$	4,800,891

Future policy benefit liabilities for the year indicated are as follows:



	As of December 31,
	2018		2017		2018		2017
	Total Policy Liabilities and Accruals				Reinsurance Receivable
	(Dollars In Thousands)
Life and annuity benefit reserves	$	40,883,229	$	29,972,938	$	3,573,500	$	3,885,546
Unpaid life claim liabilities	654,077		595,188		383,620		362,833
Life and annuity future policy benefits	41,537,306		30,568,126		3,957,120		4,248,379
Other policy benefits reserves	142,855		157,101		80,688		92,330
Other policy benefits unpaid claim liabilities	220,457		231,565		175,591		185,366
Future policy benefits and claims and associated reinsurance receivable	$	41,900,618	$	30,956,792	$	4,213,399	$	4,526,075
Unearned premiums	769,620		751,130		272,630		274,816
Total policy liabilities and accruals and associated reinsurance receivable	$	42,670,238	$	31,707,922	$	4,486,029	$	4,800,891

The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned:



	Gross Amount		Ceded to Other Companies			Assumed from Other Companies		Net Amount
	(Dollars In Thousands)
For The Year Ended December 31, 2018
Premiums and policy fees:										-1
Life insurance	$	2,681,191	$	(1,249,906	)	$	626,283	$	2,057,568	(1)
Accident/health insurance	47,028		(30,126		)	12,826		29,728
Property and liability insurance	284,323		(103,478		)	4,857		185,702
Total	$	3,012,542	$	(1,383,510	)	$	643,966	$	2,272,998
For The Year Ended December 31, 2017
Premiums and policy fees:
Life insurance	$	2,655,846	$	(1,230,258	)	$	435,113	$	1,860,701	(1)
Accident/health insurance	51,991		(33,052		)	14,946		33,885
Property and liability insurance	288,809		(103,786		)	9,657		194,680
Total	$	2,996,646	$	(1,367,096	)	$	459,716	$	2,089,266
For The Year Ended December 31, 2016
Premiums and policy fees:
Life insurance	$	2,610,682	$	(1,207,159	)	$	454,999	$	1,858,522	(1)
Accident/health insurance	58,076		(36,935		)	17,439		38,580
Property and liability insurance	242,517		(86,629		)	5,706		161,594
Total	$	2,911,275	$	(1,330,723	)	$	478,144	$	2,058,696


(1)	Includes annuity policy fees of $177.1 million, $173.5 million, and $80.1 million, for the years ended December 31, 2018, 2017, and 2016, respectively.

The pre-tax impact to each affected line item on the Company’s financial statements is reflected in the table below:



	As of December 31, 2018
	As Reported		Previous Accounting Method
	(Dollars In Millions)
Financial Statement Line Item:
Balance Sheet
Deferred policy acquisition costs and value of business acquired	$	3,026.3	$	2,887.3
Other liabilities	$	1,939.7	$	1,683.3



	For The Year Ended December 31, 2018
	As Reported		Previous Accounting Method
	(Dollars In Millions)
Financial Statement Line Item:
Statements of Income
Other income	$	321.0	$	322.1
Amortization of deferred policy acquisition costs and value of business acquired	$	226.1	$	178.1
Other operating expenses, net of reinsurance ceded	$	774.1	$	825.1