INVESTMENT OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2015

Summary of net realized investment gains (losses) for all other investments

	Successor						Predecessor
	Company						Company
	For The Three			February 1, 2015			January 1, 2015			For The Three			For The Six
	Months Ended			to			to			Months Ended			Months Ended
	June 30, 2015			June 30, 2015			January 31, 2015			June 30, 2014			June 30, 2014
	(Dollars In Thousands)						(Dollars In Thousands)
Fixed maturities	$	3,329		$	3,702		$	6,891		$	20,198		$	27,568
Equity securities	21			21			—			—			—
Impairments on fixed maturity securities	(5,734		)	(5,734		)	(481		)	(1,460		)	(3,051		)
Impairments on equity securities	—			—			—			—			—
Modco trading portfolio	(108,741		)	(141,901		)	73,062			60,989			127,292
Other investments	3,044			775			1,200			(721		)	(2,248		)

Total realized gains (losses) - investments	$	(108,081	)	$	(143,137	)	$	80,672		$	79,006		$	149,561

Schedule of amortized cost and fair value of the Company's investments classified as available-for-sale

			Gross		Gross					Total OTTI
Successor Company	Amortized		Unrealized		Unrealized			Fair		Recognized
As of June 30, 2015	Cost		Gains		Losses			Value		in OCI(1)
	(Dollars In Thousands)
Fixed maturities:
Residential mortgage-backed securities	$	1,594,167	$	6,244	$	(23,585	)	$	1,576,826	$	—
Commercial mortgage-backed securities	1,236,987		271		(34,102		)	1,203,156		—
Other asset-backed securities	820,349		2,062		(22,940		)	799,471		—
U.S. government-related securities	1,644,086		427		(42,983		)	1,601,530		—
Other government-related securities	19,578		—		(796		)	18,782		—
States, municipals, and political subdivisions	1,720,059		59		(135,050		)	1,585,068		—
Corporate securities	28,017,234		51,102		(1,925,808		)	26,142,528		(7,024		)
Preferred stock	64,362		—		(2,695		)	61,667		—
	35,116,822		60,165		(2,187,959		)	32,989,028		(7,024		)
Equity securities	685,967		903		(12,498		)	674,372		—
Short-term investments	156,937		—		—			156,937		—
	$	35,959,726	$	61,068	$	(2,200,457	)	$	33,820,337	$	(7,024	)


Predecessor Company
As of December 31, 2014
Fixed maturities:
Residential mortgage-backed securities	$	1,374,141	$	56,381	$	(12,264	)	$	1,418,258	$	6,404
Commercial mortgage-backed securities	1,119,979		59,637		(2,364		)	1,177,252		—
Other asset-backed securities	857,365		17,961		(35,950		)	839,376		(95		)
U.S. government-related securities	1,394,028		44,149		(9,282		)	1,428,895		—
Other government-related securities	16,939		3,233		—			20,172		—
States, municipals, and political subdivisions	1,391,526		296,594		(431		)	1,687,689		—
Corporate securities	24,744,050		2,760,703		(138,975		)	27,365,778		—
	30,898,028		3,238,658		(199,266		)	33,937,420		6,309
Equity securities	713,813		35,646		(14,153		)	735,306		—
Short-term investments	151,572		—		—			151,572		—
	$	31,763,413	$	3,274,304	$	(213,419	)	$	34,824,298	$	6,309

(1)These amounts are included in the gross unrealized gains and gross unrealized losses columns above.

Schedule of amortized cost and fair value of the Company's investments classified as held-to-maturity

Successor Company	Amortized		Unrealized		Unrealized			Fair		Recognized
As of June 30, 2015	Cost		Gains		Losses			Value		in OCI
	(Dollars In Thousands)
Fixed maturities:
Other	$	565,334	$	—	$	(75,384	)	$	489,950	$	—

	$	565,334	$	—	$	(75,384	)	$	489,950	$	—




Predecessor Company
As of December 31, 2014

Fixed maturities:
Other	$	435,000	$	50,422	$	—		$	485,422	$	—

	$	435,000	$	50,422	$	—		$	485,422	$	—

Schedule of amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities, by expected maturity

	Successor Company
	Available-for-sale				Held-to-maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(Dollars In Thousands)				(Dollars In Thousands)
Due in one year or less	$	849,305	$	849,114	$	—	$	—
Due after one year through five years	5,165,216		5,134,165		—		—
Due after five years through ten years	8,490,229		8,275,719		—		—
Due after ten years	20,612,072		18,730,030		565,334		489,950

	$	35,116,822	$	32,989,028	$	565,334	$	489,950

Schedule of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income

	Successor				Predecessor
	Company				Company
	For The Three		February 1, 2015		January 1, 2015		For The Three			For The Six
	Months Ended		to		to		Months Ended			Months Ended
	June 30, 2015		June 30, 2015		January 31, 2015		June 30, 2014			June 30, 2014
	(Dollars In Thousands)				(Dollars In Thousands)
Beginning balance	$	—	$	—	$	15,463	$	20,792		$	41,674
Additions for newly impaired securities	4,472		4,472		—		—			—
Additions for previously impaired securities	—		—		221		553			1,027
Reductions for previously impaired securities
due to a change in expected cash flows	—		—		—		(3,407		)	(24,763		)
Reductions for previously impaired securities that were sold in the current period	—		—		—		—			—

Ending balance	$	4,472	$	4,472	$	15,684	$	17,938		$	17,938

Schedule of investments' gross unrealized losses and fair value of the Company's investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2015 (Successor Company):

	Less Than 12 Months					12 Months or More				Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	Value		Loss			Value		Loss		Value		Loss
	(Dollars In Thousands)
Residential mortgage-backed securities	$	1,043,439	$	(23,585	)	$	—	$	—	$	1,043,439	$	(23,585	)
Commercial mortgage-backed securities	1,125,342		(34,102		)	—		—		1,125,342		(34,102		)
Other asset-backed securities	723,695		(22,940		)	—		—		723,695		(22,940		)
U.S. government-related securities	1,569,203		(42,983		)	—		—		1,569,203		(42,983		)
Other government-related securities	18,782		(796		)	—		—		18,782		(796		)
States, municipalities, and political subdivisions	1,583,913		(135,050		)	—		—		1,583,913		(135,050		)
Corporate securities	23,693,311		(1,925,808		)	—		—		23,693,311		(1,925,808		)
Preferred stock	61,667		(2,695		)	—		—		61,667		(2,695		)
Equities	496,563		(12,498		)	—		—		496,563		(12,498		)

	$	30,315,915	$	(2,200,457	)	$	—	$	—	$	30,315,915	$	(2,200,457	)

	Less Than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
	(Dollars In Thousands)
Residential mortgage-backed securities	$	165,877	$	(9,547	)	$	67,301	$	(2,717	)	$	233,178	$	(12,264	)
Commercial mortgage-backed securities	49,908		(334		)	102,529		(2,030		)	152,437		(2,364		)
Other asset-backed securities	108,665		(6,473		)	537,488		(29,477		)	646,153		(35,950		)
U.S. government-related securities	231,917		(3,868		)	280,803		(5,414		)	512,720		(9,282		)
Other government-related securities	—		—			—		—			—		—
States, municipalities, and political subdivisions	1,905		(134		)	10,481		(297		)	12,386		(431		)
Corporate securities	1,657,103		(76,285		)	776,863		(62,690		)	2,433,966		(138,975		)
Equities	17,430		(218		)	129,509		(13,935		)	146,939		(14,153		)

	$	2,232,805	$	(96,859	)	$	1,904,974	$	(116,560	)	$	4,137,779	$	(213,419	)

Summary of change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale

	Successor						Predecessor
	Company						Company
	For The Three			February 1, 2015			January 1, 2015		For The Three		For The Six
	Months Ended			to			to		Months Ended		Months Ended
	June 30, 2015			June 30, 2015			January 31, 2015		June 30, 2014		June 30, 2014
	(Dollars In Thousands)						(Dollars In Thousands)
Fixed maturities	$	(1,039,827	)	$	(1,383,066	)	$	669,160	$	519,488	$	1,147,761
Equity securities	(9,048		)	(7,537		)	12,172		14,591		33,004

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References + Details