OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2015

OPERATING SEGMENTS

Summary of financial information for the Company's segments

	Successor			Predecessor
	Company			Company
	February 1, 2015			January 1, 2015			For The Three
	to			to			Months Ended
	March 31, 2015			January 31, 2015			March 31, 2014
	(Dollars In Thousands)			(Dollars In Thousands)
Revenues
Life Marketing	$	254,922		$	133,361		$	352,823
Acquisitions	258,789			139,761			426,948
Annuities	49,344			130,918			191,975
Stable Value Products	10,342			8,181			27,851
Asset Protection	49,296			24,566			72,846
Corporate and Other	18,268			22,859			16,906
Total revenues	$	640,961		$	459,646		$	1,089,349
Segment Operating Income (Loss)
Life Marketing	$	4,281		$	(2,271	)	$	22,497
Acquisitions	36,070			20,134			60,996
Annuities	31,373			11,363			45,328
Stable Value Products	6,115			4,529			17,397
Asset Protection	3,643			1,907			4,809
Corporate and Other	(13,957		)	(16,662		)	(23,681		)
Total segment operating income	67,525			19,000			127,346
Realized investment (losses) gains - investments (1)	(42,933		)	89,414			57,930
Realized investment (losses) gains - derivatives	(56		)	24,433			(33,665		)
Income tax expense	(8,116		)	(44,325		)	(49,062		)
Net income	$	16,420		$	88,522		$	102,549
(2)Investment gains (losses)	$	(35,056	)	$	80,672		$	70,555
Less: amortization related to DAC/VOBA and benefits and settlement expenses	7,877			(8,742		)	12,625
Realized investment gains (losses) - investments	$	(42,933	)	$	89,414		$	57,930
(3)Derivative gains (losses)	$	(4,948	)	$	22,031		$	(39,574	)
Less: VA GMWB economic cost	(4,892		)	(2,402		)	(5,909		)
Realized investment gains (losses) - derivatives	$	(56	)	$	24,433		$	(33,665	)

(1) Includes credit related other-than-temporary impairments of $0.5 million for the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and $1.6 million for the three months ended March 31, 2014 (Predecessor Company), respectively. The Company did not recognize any other-than-temporary impairments for the period of February 1, 2015 to March 31, 2015 (Successor Company).

(2)Includes realized investment gains (losses) before related amortization.

(3)Includes realized gains (losses) on derivatives before the VA GMWB economic cost.

	Operating Segment Assets
	As of March 31, 2015 (Successor Company)
	(Dollars In Thousands)
	Life							Stable Value
	Marketing		Acquisitions			Annuities		Products
Investments and other assets	$	13,568,112	$	20,526,268		$	20,319,419	$	1,799,982
Deferred policy acquisition costs and value of business acquired	991,539		(183,586		)	462,339		—
Other intangibles	333,841		41,574			206,778		9,889
Goodwill	203,543		14,524			336,677		113,813
Total assets	$	15,097,035	$	20,398,780		$	21,325,213	$	1,923,684

	Asset		Corporate				Total
	Protection		and Other		Adjustments		Consolidated
Investments and other assets	$	733,873	$	11,063,000	$	11,320	$	68,021,974
Deferred policy acquisition costs and value of business acquired	46,054		—		—		1,316,346
Other intangibles	84,032						676,114
Goodwill	67,155		—		—		735,712
Total assets	$	931,114	$	11,063,000	$	11,320	$	70,750,146

	Operating Segment Assets
	As of December 31, 2014 (Predecessor Company)
	(Dollars In Thousands)
	Life						Stable Value
	Marketing		Acquisitions		Annuities		Products
Investments and other assets	$	13,858,491	$	19,858,284	$	20,678,948	$	1,958,867
Deferred policy acquisition costs and value of business acquired	1,973,156		600,482		539,965		621
Goodwill	—		29,419		—		—
Total assets	$	15,831,647	$	20,488,185	$	21,218,913	$	1,959,488

	Asset		Corporate				Total
	Protection		and Other		Adjustments		Consolidated
Investments and other assets	$	832,887	$	9,557,226	$	14,792	$	66,759,495
Deferred policy acquisition costs and value of business acquired	40,503		319		—		3,155,046
Goodwill	48,158		—		—		77,577
Total assets	$	921,548	$	9,557,545	$	14,792	$	69,992,118