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OFFSETTING OF ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2020
Offsetting [Abstract]  
OFFSETTING OF ASSETS AND LIABILITIES OFFSETTING OF ASSETS AND LIABILITIESCertain of the Company’s derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. Additionally, certain of the Company’s repurchase agreements provide for net settlement on termination of the agreement. Refer to Note 14, Debt and Other Obligations for details of the Company’s repurchase agreement programs.
Collateral received includes both cash and non-cash collateral. Cash collateral received by the Company is recorded on the consolidated balance sheet as “cash”, with a corresponding amount recorded in “other liabilities” to represent the Company’s obligation to return the collateral. Non-cash collateral received by the Company is not recognized on the consolidated balance sheet unless the Company exercises its right to sell or re-pledge the underlying asset. As of December 31, 2020 and 2019, the fair value of non-cash collateral received was zero and $21.3 million, respectively. 
The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2020:
Gross
 Amounts of
 Recognized
 Assets
Gross
 Amounts
 Offset in the
Balance Sheet		Net Amounts
 of Assets
 Presented in
 the Balance Sheet		Gross Amounts
Not Offset
in the Balance Sheet
Financial
 Instruments		Collateral
Received		Net Amount
 (Dollars In Thousands)
Offsetting of Derivative Assets      
Derivatives:      
Free-Standing derivatives$1,337,410 $— $1,337,410 $864,650 $289,581 $183,179 
Total derivatives, subject to a master netting arrangement or similar arrangement1,337,410 — 1,337,410 864,650 289,581 183,179 
Derivatives not subject to a master netting arrangement or similar arrangement      
Embedded derivative - Modco reinsurance treaties100,505 — 100,505 — — 100,505 
Embedded derivative - GLWB61,356 — 61,356 — — 61,356 
Derivatives with PLC— — — — — — 
Embedded derivative - FIA60,134 — 60,134 — — 60,134 
Total derivatives, not subject to a master netting arrangement or similar arrangement221,995—221,995——221,995
Total derivatives1,559,405 — 1,559,405 864,650 289,581 405,174 
Total Assets$1,559,405 $— $1,559,405 $864,650 $289,581 $405,174 
 Gross
Amounts of
Recognized
 Liabilities		Gross
 Amounts
Offset in the
Balance Sheet		Net Amounts
of Liabilities
Presented in
 Balance Sheet		Gross Amounts
Not Offset
in the Balance Sheet
Financial
 Instruments		Collateral
 Posted		Net Amount
 (Dollars In Thousands)
Offsetting of Derivative Liabilities      
Derivatives:      
Free-Standing derivatives$871,293 $— $871,293 $864,650 $4,193 $2,450 
Total derivatives, subject to a master netting arrangement or similar arrangement871,293 — 871,293 864,650 4,193 2,450 
Derivatives not subject to a master netting arrangement or similar arrangement      
Embedded derivative - Modco reinsurance treaties388,521 — 388,521 — — 388,521 
Funds withheld derivative66,331 — 66,331 — — 66,331 
Embedded derivative - GLWB465,012 — 465,012 — — 465,012 
Embedded derivative - FIA633,350 — 633,350 — — 633,350 
Embedded derivative - IUL201,331 — 201,331 — — 201,331 
Other55,613 — 55,613 — — 55,613 
Total derivatives, not subject to a master netting arrangement or similar arrangement1,810,158 — 1,810,158 — — 1,810,158 
Total derivatives2,681,451 — 2,681,451 864,650 4,193 1,812,608 
Repurchase agreements(1)
436,970 — 436,970 — — 436,970 
Total Liabilities$3,118,421 $— $3,118,421 $864,650 $4,193 $2,249,578 
(1)Borrowings under repurchase agreements are for a term less than 90 days.
The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2019.
 Gross
Amounts
of
Recognized
Assets		Gross
Amounts
Offset in the
Balance Sheet		Net
Amounts
of Assets
Presented in
the
Balance Sheet		Gross Amounts
Not Offset
in Balance Sheet
 Financial
Instruments
Collateral
Received		Net Amount
 (Dollars In Thousands)
Offsetting of Derivative Assets      
Derivatives:      
Free-Standing derivatives$785,650 $— $785,650 $452,562 $215,587 $117,501 
Total derivatives, subject to a master netting arrangement or similar arrangement785,650 — 785,650 452,562 215,587 117,501 
Derivatives not subject to a master netting arrangement or similar arrangement      
Embedded derivative - Modco reinsurance treaties31,926 — 31,926 — — 31,926 
Embedded derivative - GLWB62,538 — 62,538 — — 62,538 
Derivatives with PLC115,379 — 115,379 — — 115,379 
Other— — — — — — 
Total derivatives, not subject to a master netting arrangement or similar arrangement209,843 — 209,843 — — 209,843 
Total derivatives995,493 — 995,493 452,562 215,587 327,344 
Total Assets$995,493 $— $995,493 $452,562 $215,587 $327,344 
 Gross
Amounts
of
Recognized
Liabilities		Gross
Amounts
Offset in the
Balance Sheet		Net
Amounts
of Liabilities
Presented in
Balance Sheet		Gross Amounts
Not Offset
in the Balance Sheet
 Financial
Instruments		Collateral
Posted		Net Amount
 (Dollars In Thousands)
Offsetting of Derivative Liabilities      
Derivatives:      
Free-Standing derivatives$458,623 $— $458,623 $452,562 $4,791 $1,270 
Total derivatives, subject to a master netting arrangement or similar arrangement458,623 — 458,623 452,562 4,791 1,270 
Derivatives not subject to a master netting arrangement or similar arrangement      
Embedded derivative - Modco reinsurance treaties231,516 — 231,516 — — 231,516 
Funds withheld derivative70,583 — 70,583 — — 70,583 
Embedded derivative - GLWB248,577 — 248,577 — — 248,577 
Embedded derivative - FIA332,869 — 332,869 — — 332,869 
Embedded derivative - IUL151,765 — 151,765 — — 151,765 
Other53,245 — 53,245 — — 53,245 
Total derivatives, not subject to a master netting arrangement or similar arrangement1,088,555 — 1,088,555 — — 1,088,555 
Total derivatives1,547,178 — 1,547,178 452,562 4,791 1,089,825 
Repurchase agreements(1)
270,000 — 270,000 — — 270,000 
Total Liabilities$1,817,178 $— $1,817,178 $452,562 $4,791 $1,359,825 
(1)Borrowings under repurchase agreements are for a term less than 90 days.