Segment and Other Operating Information

3 Months Ended

Mar. 31, 2013

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, 2013 and March 31, 2012 is provided below.

Selected Segment Information:
	Domestic Life Insurance		International  Life Insurance	Annuities	All  Others	Totals
				(In thousands)
March 31, 2013
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	41,026	227,263	595,713	—	864,002
Total segment assets	496,778		1,148,773	8,418,536	257,309	10,321,396
Future policy benefits	427,006		861,854	7,436,521	—	8,725,381
Other policyholder liabilities	12,547		10,139	132,796	—	155,482
Three Months Ended
March 31, 2013
Condensed Consolidated Income Statements:
Premiums and contract revenues	$	9,610	28,019	4,134	—	41,763
Net investment income	7,773		18,630	150,378	4,033	180,814
Other revenues	12		43	39	6,048	6,142
Total revenues	17,395		46,692	154,551	10,081	228,719
Life and other policy benefits	3,030		3,645	6,015	—	12,690
Amortization of deferred acquisition costs	2,035		5,787	22,982	—	30,804
Universal life and annuity contract interest	7,191		21,991	111,118	—	140,300
Other operating expenses	3,767		6,708	6,086	5,363	21,924
Federal income taxes (benefit)	470		2,930	2,857	1,615	7,872
Total expenses	16,493		41,061	149,058	6,978	213,590
Segment earnings (loss)	$	902	5,631	5,493	3,103	15,129

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

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

	Three Months Ended March 31,
	2013		2012
	(In thousands)
Premiums and Other Revenues:
Premiums and contract revenues	$	41,763	40,282
Net investment income	180,814		149,558
Other revenues	6,142		5,655
Realized gains (losses) on investments	2,313		1,167
Total condensed consolidated premiums and other revenues	$	231,032	196,662

	Three Months Ended March 31,
	2013		2012
	(In thousands)
Federal Income Taxes:
Total segment Federal income taxes	$	7,872	9,563
Taxes on realized gains (losses) on investments	810		408
Total condensed consolidated Federal income taxes	$	8,682	9,971

	Three Months Ended March 31,
	2013		2012
	(In thousands)
Net Earnings:
Total segment earnings	$	15,129	18,982
Realized gains (losses) on investments, net of taxes	1,503		759
Total condensed consolidated net earnings	$	16,632	19,741

	March 31,
	2013		2012
	(In thousands)
Assets:
Total segment assets	$	10,321,396	9,817,389
Other unallocated assets	155,105		67,216
Total condensed consolidated assets	$	10,476,501	9,884,605