CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)

12 Months Ended

Dec. 31, 2019

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS

Schedule of activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)

Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows:

	For The Year Ended December 31,
	2019		2018		2017
	(Dollars In Thousands)
Beginning balance	$	34,700	$	26,934	$	27,835
Incurred guarantee benefits	(809)		11,065		(181)
Less: Paid guarantee benefits	3,664		3,299		720
Ending balance	$	30,227	$	34,700	$	26,934

Schedule of account balances of variable annuities with guarantees invested in variable annuity separate accounts

Account balances of variable annuities with guarantees invested in variable annuity separate accounts are as follows:

	As of December 31,
	2019		2018
	(Dollars In Thousands)
Equity mutual funds	$	8,074,490	$	5,300,024
Fixed income mutual funds	4,167,158		6,568,575
Total	$	12,241,648	$	11,868,599

Schedule of activity in the Company's deferred sales inducement asset

Activity in the Company’s deferred sales inducement asset, recorded on the balance sheet in other assets was as follows:

	For The Year Ended December 31,
	2019		2018		2017
	(Dollars In Thousands)
Deferred asset, beginning of period	$	39,577	$	30,956	$	22,497
Amounts deferred	5,813		13,336		14,246
Amortization	(2,860)		(4,715)		(5,787)
Deferred asset, end of period	$	42,530	$	39,577	$	30,956