SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of finite lived intangible assets

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

	As of December 31,				Estimated
	2019		2018		Useful Life
	(Dollars In Thousands)				(In Years)
Distribution relationships	$	366,423	$	377,441	14-22
Trade names	71,918		78,629		13-17
Technology	85,454		93,433		7-14
Other	27,631		31,351
Total intangible assets subject to amortization	551,426		580,854
Insurance licenses	32,000		32,000		Indefinite
Total intangible assets	$	583,426	$	612,854

Schedule of indefinite-lived intangible assets

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

	As of December 31,				Estimated
	2019		2018		Useful Life
	(Dollars In Thousands)				(In Years)
Distribution relationships	$	366,423	$	377,441	14-22
Trade names	71,918		78,629		13-17
Technology	85,454		93,433		7-14
Other	27,631		31,351
Total intangible assets subject to amortization	551,426		580,854
Insurance licenses	32,000		32,000		Indefinite
Total intangible assets	$	583,426	$	612,854

Schedule of future estimated aggregate amortization expense

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

Year	Amount
	(Dollars In Thousands)
2020	$	54,350
2021	51,746
2022	48,206
2023	46,519
2024	45,406

Amortizable intangible assets will be amortized on a straight line basis over their assigned useful lives. The following is a schedule of future estimated aggregate amortization expense:

Year	Amount
	(Dollars In Thousands)
2020	$	1,463
2021	1,463
2022	1,463
2023	1,463
2024	1,463

Schedule of property and equipment

Property and equipment consisted of the following:

	As of December 31,
	2019		2018
	(Dollars In Thousands)
Home office building	$	153,456	$	144,669
Data processing equipment	37,303		28,793
Capital leases	24,941		1,863
Other, principally furniture and equipment	20,482		14,587
Total property and equipment subject to depreciation	236,182		189,912
Accumulated depreciation	(49,357)		(30,989)
Land	24,920		24,920
Total property and equipment	$	211,745	$	183,843

Schedule of future maturities of stable value products

As of December 31, 2019, future maturities of stable value products were as follows:

Year of Maturity	Amount
	(Dollars In Millions)
2020	$	1,765.2
2021 - 2022	2,535.1
2023 - 2024	1,029.1
Thereafter	114.0

Schedule of future policy benefit liabilities

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

	As of December 31,
	2019		2018		2019		2018
	Total Policy Liabilities and Accruals				Reinsurance Receivable
	(Dollars In Thousands)
Life and annuity benefit reserves	$	52,478,019	$	40,883,229	$	3,279,374	$	3,573,500
Unpaid life claim liabilities	810,585		654,077		373,942		383,620
Life and annuity future policy benefits	53,288,604		41,537,306		3,653,316		3,957,120
Other policy benefits reserves	422,579		142,855		69,316		80,688
Other policy benefits unpaid claim liabilities	232,779		220,457		170,603		175,591
Future policy benefits and claims and associated reinsurance receivable	$	53,943,962	$	41,900,618	$	3,893,235	$	4,213,399
Unearned premiums	794,832		769,620		287,865		272,630
Total policy liabilities and accruals and associated reinsurance receivable	$	54,738,794	$	42,670,238	$	4,181,100	$	4,486,029

Schedule of new accounting pronouncements

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