XML 49 R2.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Premiums and policy fees $ 1,021,152 $ 871,892 $ 2,883,935 $ 2,691,233
Reinsurance ceded (314,234) (267,910) (967,282) (1,005,398)
Net of reinsurance ceded 706,918 603,982 1,916,653 1,685,835
Net investment income 739,711 631,955 2,066,327 1,699,787
Realized investment gains (losses) 130,503 (46,866) 230,966 (120,174)
Other-than-temporary impairment losses (39,752) (14) (41,245) (715)
Portion recognized in other comprehensive income (before taxes) 28,934 0 26,587 (2,949)
Net impairment losses recognized in earnings (10,818) (14) (14,658) (3,664)
Other income 115,679 80,906 297,987 241,334
Total revenues 1,681,993 1,269,963 4,497,275 3,503,118
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months 2019 - $224,619 and $733,970; three and nine months 2018 - $214,326 and $855,929) 1,171,034 950,942 3,147,641 2,598,151
Amortization of deferred policy acquisition costs and value of business acquired 61,350 33,469 125,560 144,172
Other operating expenses, net of reinsurance ceded: (three and nine months 2019 - $59,692 and $168,566; three and nine months 2018 - $50,067 and $152,694) 209,768 190,382 621,783 582,795
Total benefits and expenses 1,442,152 1,174,793 3,894,984 3,325,118
Income before income tax 239,841 95,170 602,291 178,000
Income tax expense 49,417 16,646 115,355 28,933
Net income $ 190,424 $ 78,524 $ 486,936 $ 149,067