Segment and Other Operating Information

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Segment and Other Operating Information

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 March 31, 2012 and 2011 is provided below.

Selected Segment Information:
	Domestic Life Insurance		International  Life Insurance	Annuities	All  Others	Totals
				(In thousands)
March 31, 2012
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	36,432	230,753	601,414	—	868,599
Total segment assets	413,630		1,076,573	8,100,477	226,709	9,817,389
Future policy benefits	351,915		796,354	7,116,918	—	8,265,187
Other policyholder liabilities	10,738		18,457	121,373		150,568
Three Months Ended
March 31, 2012
Condensed Consolidated Income Statements:
Premiums and contract revenues	$	10,539	23,431	6,312	—	40,282
Net investment income	5,818		15,397	124,389	3,954	149,558
Other revenues	7		32	61	5,555	5,655
Total revenues	16,364		38,860	130,762	9,509	195,495
Life and other policy benefits	1,648		3,480	8,550	—	13,678
Amortization of deferred acquisition costs	2,391		5,608	23,712	—	31,711
Universal life and annuity contract interest	7,213		14,812	79,518	—	101,543
Other operating expenses	4,768		5,818	4,028	5,404	20,018
Federal income taxes (benefit)	115		3,063	5,010	1,375	9,563
Total expenses	16,135		32,781	120,818	6,779	176,513
Segment earnings (loss)	$	229	6,079	9,944	2,730	18,982

Selected Segment Information:
	Domestic Life Insurance			International  Life Insurance	Annuities	All  Others	Totals
					(In thousands)
March 31, 2011
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	42,078		227,966	589,592		859,636
Total segment assets	391,358			1,042,710	7,326,346	213,103	8,973,517
Future policy benefits	326,875			735,002	6,414,621		7,476,498
Other policyholder liabilities	13,239			23,142	118,687		155,068
Three Months Ended
March 31, 2011
Condensed Consolidated Income Statements:
Premiums and contract revenues	$	6,032		24,560	3,262	—	33,854
Net investment income	4,996			13,021	113,112	2,386	133,515
Other revenues	7			24	4,061	5,814	9,906
Total revenues	11,035			37,605	120,435	8,200	177,275
Life and other policy benefits	5,234			4,962	2,020	—	12,216
Amortization of deferred acquisition costs	2,883			8,198	16,408	—	27,489
Universal life and annuity contract interest	2,638			12,919	76,592	—	92,149
Other operating expenses	3,666			6,926	4,903	5,223	20,718
Federal income taxes (benefit)	(1,165		)	1,583	7,059	1,025	8,502
Total expenses	13,256			34,588	106,982	6,248	161,074
Segment earnings (loss)	$	(2,221	)	3,017	13,453	1,952	16,201

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

	Three Months Ended March 31,
	2012		2011
	(In thousands)
Premiums and Other Revenues:
Premiums and contract revenues	$	40,282	33,854
Net investment income	149,558		133,515
Other revenues	5,655		9,906
Realized gains (losses) on investments	1,167		3,092
Total condensed consolidated premiums and other revenues	$	196,662	180,367

	Three Months Ended March 31,
	2012		2011
	(In thousands)
Federal Income Taxes:
Total segment Federal income taxes	$	9,563	8,502
Taxes on realized gains (losses) on investments	408		1,082
Total condensed consolidated Federal income taxes	$	9,971	9,584

	Three Months Ended March 31,
	2012		2011
	(In thousands)
Net Earnings:
Total segment earnings	$	18,982	16,202
Realized gains (losses) on investments, net of taxes	759		2,010
Total condensed consolidated net earnings	$	19,741	18,212

	March 31,
	2012		2011
	(In thousands)
Assets:
Total segment assets	$	9,817,389	8,973,517
Other unallocated assets	67,216		56,479
Total condensed consolidated assets	$	9,884,605	9,029,996