Segment and Other Operating Information

6 Months Ended

Jun. 30, 2011

SEGMENT AND OTHER OPERATING INFORMATION [Abstract]

Segment Reporting Disclosure [Text Block]

SEGMENT AND OTHER OPERATING INFORMATION

The Company defines its reportable operating segments as domestic life insurance, international life insurance, and annuities. These segments are organized based on product types and geographic marketing areas.  A summary of segment information for the quarters ended June 30, 2011 and 2010 is provided below.

Selected Segment Information:
	Domestic Life Insurance			International  Life Insurance	Annuities		All  Others	Totals
					(In thousands)
June 30, 2011:
Selected Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	41,113		227,166	580,224			848,503
Total segment assets	398,712			1,035,273	7,555,300		219,328	9,208,613
Future policy benefits	331,037			747,058	6,621,456			7,699,551
Other policyholder liabilities	12,206			16,999	116,548			145,753
Three Months Ended
June 30, 2011:
Condensed Income Statements:
Premiums and contract revenues	$	6,617		25,616	5,006		—	37,239
Net investment income	4,485			9,532	78,830		4,877	97,724
Other revenues	(2		)	342	(1,070	)	5,428	4,698
Total revenues	11,100			35,490	82,766		10,305	139,661
Life and other policy benefits	(810		)	4,199	6,209		—	9,598
Amortization of deferred acquisition costs	2,771			7,927	28,150		—	38,848
Universal life and annuity contract interest	1,849			8,507	42,876		—	53,232
Other operating expenses	3,361			4,273	6,320		5,106	19,060
Federal income taxes (benefit)	1,339			3,273	(751	)	1,590	5,451
Total expenses	8,510			28,179	82,804		6,696	126,189
Segment earnings (loss)	$	2,590		7,311	(38	)	3,609	13,472

	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
				(In thousands)
Six Months Ended
June 30, 2011:
Condensed Income Statements:
Premiums and contract revenues	$	12,649	50,176	8,268	—	71,093
Net investment income	9,481		22,553	191,942	7,263	231,239
Other revenues	5		366	2,991	11,242	14,604
Total revenues	22,135		73,095	203,201	18,505	316,936
Life and other policy benefits	4,424		9,161	8,229	—	21,814
Amortization of deferred acquisition costs	5,654		16,125	44,558	—	66,337
Universal life and annuity contract interest	4,487		21,426	119,468	—	145,381
Other operating expenses	7,027		11,199	11,223	10,329	39,778
Federal income taxes	174		4,856	6,308	2,615	13,953
Total expenses	21,766		62,767	189,786	12,944	287,263
Segment earnings	$	369	10,328	13,415	5,561	29,673

Selected Segment Information:
	Domestic Life Insurance			International  Life Insurance	Annuities	All  Others	Totals
					(In thousands)
June 30, 2010:
Selected Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	44,834		210,101	505,419	—	760,354
Total segment assets	395,512			1,131,250	6,467,299	—	7,994,061
Future policy benefits	323,453			676,414	5,551,710	—	6,551,577
Other policyholder liabilities	10,582			15,219	106,614	—	132,415
Three Months Ended
June 30, 2010:
Condensed Income Statements:
Premiums and contract revenues	$	7,064		24,675	4,598	—	36,337
Net investment income	4,704			2,797	40,227	4,557	52,285
Other revenues	182			228	1,908	5,850	8,168
Total revenues	11,950			27,700	46,733	10,407	96,790
Life and other policy benefits	5,045			6,094	2,380	—	13,519
Amortization of deferred acquisition costs	3,028			2,317	12,892	—	18,237
Universal life and annuity contract interest	2,872			2,201	12,858	—	17,931
Other operating expenses	3,418			4,664	4,742	4,263	17,087
Federal income taxes (benefit)	(737		)	3,874	4,187	1,914	9,238
Total expenses	13,626			19,150	37,059	6,177	76,012
Segment earnings (loss)	$	(1,676	)	8,550	9,674	4,230	20,778

	Domestic Life Insurance			International Life Insurance	Annuities	All Others	Totals
					(In thousands)
Six Months Ended
June 30, 2010:
Condensed Income Statements:
Premiums and contract revenues	$	14,049		48,792	9,208	—	72,049
Net investment income	9,502			13,119	126,408	6,106	155,135
Other revenues	215			293	2,459	11,352	14,319
Total revenues	23,766			62,204	138,075	17,458	241,503
Life and other policy benefits	8,295			15,234	3,277	—	26,806
Amortization of deferred acquisition costs	5,768			8,992	27,246	—	42,006
Universal life and annuity contract interest	5,334			12,349	62,948	—	80,631
Other operating expenses	6,331			11,221	8,449	8,403	34,404
Federal income taxes (benefit)	(591		)	4,517	11,408	2,857	18,191
Total expenses	25,137			52,313	113,328	11,260	202,038
Segment earnings (loss)	$	(1,371	)	9,891	24,747	6,198	39,465

Reconciliations of segment information to the Company's condensed consolidated financial statements are provided below.

	Three Months Ended June 30,			Six Months Ended June 30,
	2011		2010	2011	2010
	(In thousands)
Premiums and Other Revenues:
Premiums and contract revenues	$	37,239	36,337	71,093	72,049
Net investment income	97,724		52,285	231,239	155,135
Other revenues	4,698		8,168	14,604	14,319
Realized gains (losses) on investments	490		51	3,582	(378	)
Total consolidated premiums and other revenues	$	140,151	96,841	320,518	241,125

	Three Months Ended June 30,			Six Months Ended June 30,
	2011		2010	2011	2010
	(In thousands)
Federal Income Taxes:
Total segment Federal income taxes	$	5,451	9,238	13,953	18,191
Taxes on realized gains (losses) on investments	172		17	1,254	(133	)
Total consolidated Federal income taxes	$	5,623	9,255	15,207	18,058

	Three Months Ended June 30,			Six Months Ended June 30,
	2011		2010	2011	2010
	(In thousands)
Net Earnings:
Total segment earnings	$	13,472	20,778	29,673	39,465
Realized gains (losses) on investments, net of taxes	318		34	2,328	(245	)
Total consolidated net earnings	$	13,790	20,812	32,001	39,220

	June 30,
	2011		2010
	(In thousands)
Assets:
Total segment assets	$	9,208,613	7,994,061
Other unallocated assets	53,817		51,075
Total consolidated assets	$	9,262,430	8,045,136