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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Premiums and policy fees $ 939,097 $ 935,928 $ 1,862,783 $ 1,819,341
Reinsurance ceded (337,077) (391,864) (653,048) (737,488)
Net of reinsurance ceded 602,020 544,064 1,209,735 1,081,853
Net investment income 685,194 578,414 1,326,616 1,067,832
Realized investment gains (losses) 44,243 (32,583) 100,463 (73,308)
Other-than-temporary impairment losses (198) (10) (1,493) (701)
Portion recognized in other comprehensive income (before taxes) (500) 5 (2,347) (2,949)
Net impairment losses recognized in earnings (698) (5) (3,840) (3,650)
Other income 104,172 79,754 182,308 160,428
Total revenues 1,434,931 1,169,644 2,815,282 2,233,155
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2019 - $257,677 and $509,351; three and six months 2018 - $295,777 and $641,603) 1,003,453 860,860 1,976,607 1,647,209
Amortization of deferred policy acquisition costs and value of business acquired 33,837 52,630 64,210 110,703
Other operating expenses, net of reinsurance ceded: (three and six months 2019 - $56,340 and $108,874; three and six months 2018 - $52,558 and $96,627) 211,918 195,260 412,015 392,413
Total benefits and expenses 1,249,208 1,108,750 2,452,832 2,150,325
Income before income tax 185,723 60,894 362,450 82,830
Income tax expense 31,309 8,626 65,938 12,287
Net income $ 154,414 $ 52,268 $ 296,512 $ 70,543