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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Fixed maturities, at fair value (amortized cost: 2020 - $65,356,580; 2019 - $63,268,660; allowance for credit losses: 2020 - $22,742) $ 72,239,927 $ 66,043,992
Fixed maturities, at amortized cost (fair value: 2019 - $3,025,790)   2,823,881
Equity securities, at fair value (cost: 2020 - $634,910; 2019 - $534,463) 666,977 553,720
Commercial mortgage loans, net of allowance for credit losses (2020 - $222,164; 2019 - $4,884) 10,005,562 9,379,401
Investment real estate, net of accumulated depreciation (2020 - $370; 2019 - $203) 10,153 10,321
Policy loans 1,593,394 1,675,121
Other long-term investments 3,164,180 2,479,520
Short-term investments 462,415 1,320,864
Total investments 88,142,608 84,286,820
Cash 581,390 171,752
Accrued investment income 705,650 715,388
Accounts and premiums receivable 187,245 174,202
Reinsurance receivables, net of allowance for credit losses (2020 - $94,168; 2019 - $0) 4,587,802 4,371,865
Deferred policy acquisition costs and value of business acquired 3,419,684 3,519,555
Goodwill 825,511 825,511
Other intangibles, net of accumulated amortization (2020 - $311,734; 2019 - $253,759) 540,370 583,426
Property and equipment, net of accumulated depreciation (2020 - $60,631; 2019 - $49,357) 203,999 211,745
Other assets 269,742 308,544
Assets related to separate accounts    
Variable annuity 12,377,571 12,730,090
Variable universal life 1,286,570 1,135,666
Reinsurance assumed 13,324,792 11,443,105
Total assets 126,452,934 120,477,669
Liabilities    
Future policy benefits and claims 54,107,894 53,943,962
Unearned premiums 781,806 794,832
Total policy liabilities and accruals 54,889,700 54,738,794
Annuity account balances 15,477,640 14,289,907
Other policyholders’ funds 1,865,421 1,576,856
Other liabilities 5,093,372 2,977,278
Income tax payable 69,603 34,224
Deferred income taxes 1,864,180 1,371,970
Debt 604 968
Subordinated debt 110,000 110,000
Non-recourse funding obligations 2,197 3,082,753
Secured financing liabilities 495,640 335,480
Liabilities related to separate accounts    
Variable annuity 12,377,571 12,730,090
Variable universal life 1,286,570 1,135,666
Reinsurance assumed 13,324,792 11,443,105
Total liabilities 112,913,471 109,270,843
Commitments and contingencies - Note 15
Shareowner’s equity    
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000 2 2
Common Stock, $1 par value, shares authorized and issued: 2020 and 2019 - 5,000,000 5,000 5,000
Additional paid-in-capital 8,260,537 8,260,537
Retained earnings 1,737,907 1,533,645
Accumulated other comprehensive income (loss):    
Net unrealized gains (losses) on investments, net of income tax: (2020 - $942,548; 2019 - $(383,311)) 3,545,775 1,441,978
Net unrealized losses on investments for which a credit loss has been recognized in earnings, net of income tax: (2020 - $(558)) (2,097)  
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2019 - $(7,004))   (26,347)
Accumulated loss - derivatives, net of income tax: (2020 - $(2,035); 2019 - $(2,123)) (7,661) (7,989)
Total shareowner’s equity 13,539,463 11,206,826
Total liabilities and shareowner’s equity $ 126,452,934 $ 120,477,669