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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Premiums and policy fees $ 1,045,148 $ 1,021,152 $ 2,950,425 $ 2,883,935
Reinsurance ceded (303,732) (330,201) (733,623) (1,014,633)
Net of reinsurance ceded 741,416 690,951 2,216,802 1,869,302
Net investment income 738,171 739,711 2,231,586 2,066,327
Realized gains (losses) - investments/derivatives 38,156 119,685 20,147 216,308
Other income 115,484 115,679 354,018 297,987
Total revenues 1,633,227 1,666,026 4,822,553 4,449,924
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months 2020 - $245,983 and $565,374; three and nine months 2019 - $224,619 and $733,970) 1,258,824 1,171,034 3,735,160 3,147,641
Amortization of deferred policy acquisition costs and value of business acquired 109,141 61,350 144,596 125,560
Other operating expenses, net of reinsurance ceded: (three and nine months 2020 - $52,457 and $170,994; three and nine months 2019 - $59,692 and $168,566) 192,650 193,801 572,871 574,432
Total benefits and expenses 1,560,615 1,426,185 4,452,627 3,847,633
Income before income tax 72,612 239,841 369,926 602,291
Income tax expense 12,850 49,417 71,094 115,355
Net income $ 59,762 $ 190,424 $ 298,832 $ 486,936