OFFSETTING OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2015

OFFSETTING OF ASSETS AND LIABILITIES

Schedule of derivative assets

The tables below present the derivative instruments by assets and liabilities for the Company as of September 30, 2015 (Successor Company).

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Assets		Position		Position		Instruments		Received		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Assets
Derivatives:
Free-Standing derivatives	$	294,769	$	—	$	294,769	$	24,953	$	148,469	$	121,347
Total derivatives, subject to a master netting arrangement or similar arrangement	294,769		—		294,769		24,953		148,469		121,347
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	859		—		859		—		—		859
Embedded derivative - GMWB	49,048		—		49,048		—		—		49,048
Derivatives with PLC	5,843		—		5,843		—		—		5,843
Other	288		—		288		—		—		288
Total derivatives, not subject to a master netting arrangement or similar arrangement	56,038		—		56,038		—		—		56,038
Total derivatives	350,807		—		350,807		24,953		148,469		177,385
Total Assets	$	350,807	$	—	$	350,807	$	24,953	$	148,469	$	177,385

The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company).

					Net Amounts
			Gross		of Assets		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Assets		Position		Position		Instruments		Received		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Assets
Derivatives:
Free-Standing derivatives	$	225,716	$	—	$	225,716	$	53,612	$	73,935	$	98,169
Total derivatives, subject to a master netting arrangement or similar arrangement	225,716		—		225,716		53,612		73,935		98,169
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	1,051		—		1,051		—		—		1,051
Embedded derivative - GMWB	37,497		—		37,497		—		—		37,497
Derivatives with PLC	6,077		—		6,077		—		—		6,077
Other	360		—		360		—		—		360
Total derivatives, not subject to a master netting arrangement or similar arrangement	44,985		—		44,985		—		—		44,985
Total derivatives	270,701		—		270,701		53,612		73,935		143,154
Total Assets	$	270,701	$	—	$	270,701	$	53,612	$	73,935	$	143,154

Schedule of derivative liabilities

					Net Amounts
			Gross		of Liabilities		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Liabilities		Position		Position		Instruments		Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives	$	24,976	$	—	$	24,976	$	24,953	$	23	$	—
Total derivatives, subject to a master netting arrangement or similar arrangement	24,976		—		24,976		24,953		23		—
Derivatives, not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	221,849		—		221,849		—		—		221,849
Funds withheld derivative	135,605		—		135,605						135,605
Embedded derivative - GMWB	63,540		—		63,540		—		—		63,540
Embedded derivative - FIA	76,709		—		76,709		—		—		76,709
Embedded derivative - IUL	21,711		—		21,711		—		—		21,711
Total derivatives, not subject to a master netting arrangement or similar arrangement	519,414		—		519,414		—		—		519,414
Total derivatives	544,390		—		544,390		24,953		23		519,414
Repurchase agreements(1)	455,718		—		455,718		—		—		455,718
Total Liabilities	$	1,000,108	$	—	$	1,000,108	$	24,953	$	23	$	975,132

(1) Borrowings under repurchase agreements are for a term less than 90 days.

					Net Amounts
			Gross		of Liabilities		Gross Amounts Not Offset
			Amounts		Presented in		in the Statement of
	Gross		Offset in the		the		Financial Position
	Amounts of		Statement of		Statement of				Cash
	Recognized		Financial		Financial		Financial		Collateral
	Liabilities		Position		Position		Instruments		Paid		Net Amount
	(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives	$	65,887	$	—	$	65,887	$	53,612	$	12,258	$	17
Total derivatives, subject to a master netting arrangement or similar arrangement	65,887		—		65,887		53,612		12,258		17
Derivatives not subject to a master netting arrangement or similar arrangement
Embedded derivative - Modco reinsurance treaties	311,727		—		311,727		—		—		311,727
Funds withheld derivative	57,305		—		57,305		—		—		57,305
Embedded derivative - GMWB	63,460		—		63,460		—		—		63,460
Embedded derivative - FIA	124,465		—		124,465		—		—		124,465
Embedded derivative - IUL	6,691		—		6,691		—		—		6,691
Total derivatives, not subject to a master netting arrangement or similar arrangement	563,648		—		563,648		—		—		563,648
Total derivatives	629,535		—		629,535		53,612		12,258		563,665
Repurchase agreements(1)	50,000		—		50,000		—		—		50,000
Total Liabilities	$	679,535	$	—	$	679,535	$	53,612	$	12,258	$	613,665

(1) Borrowings under repurchase agreements are for a term less than 90 days.