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Fair Value of Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Fair Value of Assets and Liabilities [Abstract]    
Fair Value, Assets and Liabilities Measured on Recurring Basis
    As of June 30, 2013
    Level 1 Level 2 Level 3 Netting (1) Total
                  
    (in thousands)
Fixed maturities, available for sale:               
U.S. Treasury securities and obligations of U.S. government authorities and agencies $ - $ 98,623 $ - $ - $ 98,623
Obligations of U.S. states and their political subdivisions   -   78,955   -   -   78,955
Foreign government bonds   -   24,620   -   -   24,620
Corporate securities   -   4,910,628   18,603   -   4,929,231
Asset-backed securities   -   201,213   129,875   -   331,088
Commercial mortgage-backed securities   -   552,944   5,047   -   557,991
Residential mortgage-backed securities   -   308,620   -   -   308,620
Sub-total   -   6,175,603   153,525   -   6,329,128
                  
Trading account assets:               
Corporate securities   -   12,432   -   -   12,432
Asset-backed securities   -   3,988   -   -   3,988
Commercial mortgage-backed securities   -   3,260   -   -   3,260
Equity securities   -   -   3,959   -   3,959
Sub-total   -   19,680   3,959   -   23,639
                  
Equity securities, available for sale    114   9,964   1,466   -   11,544
Short-term investments    11,455   62,375   -   -   73,830
Cash equivalents   9,671   109,855   -   -   119,526
Other long-term investments    -   111,091   931   (120,443)   (8,421)
Receivables from parents and affiliates   -   175,769   3,648   -   179,417
Sub-total excluding separate account assets    21,240   6,664,337   163,529   (120,443)   6,728,663
                  
Separate account assets (2)    473,333   87,898,789   271,176   -   88,643,298
Total assets $ 494,573 $ 94,563,126 $ 434,705 $ (120,443) $ 95,371,961
Future policy benefits $ - $ - $ (366,311) $ - $ (366,311)
Other liabilities(3)   -   120,443   370,489   (120,443)   370,489
Total liabilities $ - $ 120,443 $ 4,178 $ (120,443) $ 4,178

    As of December 31, 2012
    Level 1 Level 2 Level 3 Netting (1) Total
                  
    (in thousands)
Fixed maturities, available for sale:               
U.S. Treasury securities and obligations of U.S. government authorities and agencies $ - $ 187,619 $ - $ - $ 187,619
Obligations of U.S. states and their political subdivisions   -   85,197   -   -   85,197
Foreign government bonds   -   27,511   -   -   27,511
Corporate securities   -   4,561,653   36,981   -   4,598,634
Asset-backed securities   -   264,747   108,727   -   373,474
Commercial mortgage-backed securities   -   489,421   -   -   489,421
Residential mortgage-backed securities   -   373,909   -   -   373,909
Sub-total   -   5,990,057   145,708   -   6,135,765
                  
Trading account assets:               
Asset-backed securities   -   4,008   -   -   4,008
Commercial mortgage-backed securities   -   4,091   -   -   4,091
Equity securities   -   -   3,277   -   3,277
Sub-total   -   8,099   3,277   -   11,376
                  
Equity securities, available for sale    2,683   155   1,489   -   4,327
Short-term investments    81,308   31,029   -   -   112,337
Cash equivalents   10,305   307,394   -   -   317,699
Other long term investments    -   187,384   988   (68,689)   119,683
Reinsurance recoverables   -   -   1,287,157   -   1,287,157
Receivables from parents and affiliates   -   184,128   1,995   -   186,123
Sub-total excluding separate account assets    94,296   6,708,246   1,440,614   (68,689)   8,174,467
                  
Separate account assets (2)    345,437   80,293,584   248,255   -   80,887,276
Total assets $ 439,733 $ 87,001,830 $ 1,688,869 $ (68,689) $ 89,061,743
Future policy benefits $ - $ - $ 1,417,891 $ - $ 1,417,891
Other liabilities   -   68,689   -   (68,689)   -
Total liabilities $ - $ 68,689 $ 1,417,891 $ (68,689) $ 1,417,891
                  
(1) "Netting" amounts represent the impact of offsetting asset and liability positions held with the same counterparty.
(2) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account assets classified as Level 3 consist primarily of real estate and real estate investment funds. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Unaudited Interim Consolidated Statements of Financial Position.
(3) Reinsurance of variable annuity living benefit features classified as "Reinsurance Recoverables" at December 31, 2012 and March 31, 2013 were reclassified to "Other Liabilities" at June 30, 2013 as they were in a net liability position.
 
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
      Three Months Ended June 30, 2013
      Fixed Maturities Available For Sale     
      Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Other Trading Account Assets - Equity Securities  Equity Securities, Available for Sale
   (in thousands)
Fair Value, beginning of period assets/(liabilities) $ 39,791 $ 119,053 $ -$ 3,737 $ 1,448
 Total gains (losses) (realized/unrealized):              
  Included in earnings:              
   Realized investment gains (losses), net   84   -   -  -   -
   Asset management fees and other income   -   -   -  222   -
  Included in other comprehensive income (loss)   (856)   (155)   (3)  -   18
 Net investment income   19   86   -  -   -
 Purchases   1,597   15,280   5,050  -   -
 Sales   (3)   (1)   -  -   -
 Issuances   -   -   -  -   -
 Settlements   (15,736)   (4,388)   -  -   -
 Transfers into Level 3 (2)   -   -   -  -   -
 Transfers out of Level 3 (2)   (6,293)   -   -  -   -
Fair Value, end of period assets/(liabilities) $ 18,603 $ 129,875 $ 5,047$ 3,959 $ 1,466
                   
Unrealized gains (losses) for the period relating to those              
 Level 3 assets that were still held at the end of the period (3):              
  Included in earnings:              
   Realized investment gains (losses), net $ - $ - $ -$ - $ -
   Asset management fees and other income $ - $ - $ -$ 222 $ -
                   
      Three Months Ended June 30, 2013
       Other Long-Term Investments  Receivables from Parents and Affiliates Separate Account Assets (1) Future Policy Benefits Other Liabilities(4)
  (in thousands)
Fair Value, beginning of period assets/(liabilities) $ 842 $ 3,000 $ 262,007$ (575,595) $ 504,797
 Total gains (losses) (realized/unrealized):              
  Included in earnings:              
   Realized investment gains (losses), net   (9)   -   10  1,085,244   (1,008,441)
   Asset management fees and other income   11   -   -  -   -
   Interest credited to policyholders' account balances   -   -   5,282  -   -
  Included in other comprehensive income (loss)   -   (5)   -  -   -
 Net investment income   87   (998)   -  -   -
 Purchases   -   2,651   8,515  -   133,155
 Sales   -   (1,000)   (4,638)  -   -
 Issuances   -   -   -  (143,338)   -
 Settlements   -   -   -  -   -
 Transfers into Level 3 (2)   -   -   -  -   -
 Transfers out of Level 3 (2)   -   -   -  -   -
Fair Value, end of period assets/(liabilities) $ 931 $ 3,648 $ 271,176$ 366,311 $ (370,489)
                   
Unrealized gains (losses) for the period relating to those              
 Level 3 assets that were still held at the end of the period (3):              
  Included in earnings:              
   Realized investment gains (losses), net $ - $ - $ -$ 1,082,731 $ (1,006,152)
   Asset management fees and other income $ 10 $ - $ -$ - $ -
   Interest credited to policyholders' account balances $ - $ - $ 5,283$ - $ -

      Six Months Ended June 30, 2013
      Fixed Maturities Available For Sale       
      Corporate Securities Asset- Backed Securities  Commercial Mortgage-Backed Securities  Trading Account Assets - Equity Securities  Equity Securities, Available for Sale
  (in thousands) 
Fair Value, beginning of period assets/(liabilities) $ 36,981 $ 108,727 $ - $ 3,277 $ 1,489 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   (696)   -   -   -   (56) 
   Asset management fees and other income   -   -   -   682   - 
  Included in other comprehensive income (loss)   (940)   164   (3)   -   33 
 Net investment income   58   174   -   -   - 
 Purchases   11,724   33,078   8,484   380   - 
 Sales   (2,323)   (1)   -   -   - 
 Issuances   -   -   -   -   - 
 Settlements   (19,908)   (12,267)   (3,434)   (380)   - 
 Transfers into Level 3 (2)   -   -   -   -   - 
 Transfers out of Level 3 (2)   (6,293)   -   -   -   - 
Fair Value, end of period assets/(liabilities) $ 18,603 $ 129,875 $ 5,047 $ 3,959 $ 1,466 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ - $ - $ - $ - 
   Asset management fees and other income $ - $ - $ - $ 682 $ - 
                     
      Six Months Ended June 30, 2013 
       Other Long-Term Investments Receivables from Parents and Affiliates Separate Account Assets (1) Future Policy Benefits Other Liabilities(4) 
  (in thousands) 
Fair Value, beginning of period assets/(liabilities) $ 988 $ 1,995 $ 248,255 $ (1,417,891) $ 1,287,157 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   (232)   -   758   2,061,810   (1,915,881) 
   Asset management fees and other income   88   -   -   -   - 
   Interest credited to policyholders' account balances   -   -   11,072   -   - 
  Included in other comprehensive income (loss)   -   2   -   -   - 
 Net investment income   -   -   -   -   - 
 Purchases   87   2,651   36,496   -   258,235 
 Sales   -   (1,000)   (25,405)   -   - 
 Issuances   -   -   -   (277,608)   - 
 Settlements   -   -   -   -   - 
 Transfers into Level 3 (2)   -   -   -   -   - 
 Transfers out of Level 3 (2)   -   -   -   -   - 
Fair Value, end of period assets/(liabilities) $ 931 $ 3,648 $ 271,176 $ 366,311 $ (370,489) 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ - $ - $ 2,051,063 $ (1,906,147) 
   Asset management fees and other income $ 89 $ - $ - $ - $ - 
   Interest credited to policyholders' account balances $ - $ - $ 11,072 $ - $ - 
                   
                     
                     

      Three Months Ended June 30, 2012
      Fixed Maturities Available For Sale    
      U.S. Treasury Securities Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities  Other Trading Account Assets - Equity Securities 
  (in thousands)
Fair Value, beginning of period assets/(liabilities) $ 4,697 $ 47,422 $ 51,440 $ - $ 3,461 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   -   (3,046)   77   -   - 
   Asset management fees and other income   -   -   -   -   (30) 
  Included in other comprehensive income (loss)   2   (619)   (11)   85   - 
 Net investment income   -   27   148   -   - 
 Purchases   -   5,027   37,282   -   - 
 Sales   -   (80)   -   -   - 
 Issuances   -   (1,769)   -   -   - 
 Settlements   -   (481)   (2,021)   -   (50) 
 Transfers into Level 3 (2)   -   -   -   5,246   - 
 Transfers out of Level 3 (2)   -   (16,022)   -   -   - 
Fair Value, end of period assets/(liabilities) $ 4,699 $ 30,459 $ 86,915 $ 5,331 $ 3,381 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ - $ - $ - $ - 
   Asset management fees and other income $ - $ - $ - $ - $ (30) 
                     
      Three Months Ended June 30, 2012 
       Equity Securities, Available for Sale  Other Long-Term Investments Reinsurance Recoverables  Separate Account Assets (1) Future Policy Benefits 
  (in thousands) 
Fair Value, beginning of period assets/(liabilities) $ 2,561 $ 3,738 $ 343,816 $ 238,983 $ (350,661) 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   -   (192)   572,067   170   (633,456) 
   Asset management fees and other income   -   (26)   -   -   - 
   Interest credited to policyholders' account balances   (302)   -   -   (4,753)   - 
  Included in other comprehensive income (loss)   -   -   -   -   - 
 Net investment income   -   -   -   -   - 
 Purchases   -   143   121,040   15,081   - 
 Sales   -   -   -   (12,847)   - 
 Issuances   -   -   -      (103,386) 
 Settlements   -   (2)   -      - 
 Transfers into Level 3 (2)   -   -   -   -   - 
 Transfers out of Level 3 (2)   (4)   -   -   -   - 
Fair Value, end of period assets/(liabilities) $ 2,255 $ 3,661 $ 1,036,923 $ 236,634 $ (1,087,503) 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ (192) $ 575,880 $ - $ (637,356) 
   Asset management fees and other income $ - $ (26) $ - $ - $ - 
   Interest credited to policyholders' account balances $ - $ - $ - $ (4,754) $ - 
      Six Months Ended June 30, 2012 
      Fixed Maturities, Available for Sale    
      U.S. Treasury Securities Corporate Securities Asset-Backed Securities  Commercial Mortgage-Backed Securities Other Trading Account Assets - Equity Securities  
  (in thousands) 
Fair Value, beginning of period assets/(liabilities) $ 4,696 $ 23,720 $ 62,429 $ - $ 3,362 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   -   (2,971)   77   -   - 
   Asset management fees and other income   -   -   -   -   69 
  Included in other comprehensive income (loss)   3   180   2,661   85   - 
 Net investment income   -   49   253   -   - 
 Purchases   -   8,392   37,282   -   - 
 Sales   -   (83)   -   -   - 
 Issuances   -   -   -   -   - 
 Settlements   -   (4,363)   (9,972)   -   (50) 
 Transfers into Level 3 (2)   -   21,655   -   5,246   - 
 Transfers out of Level 3 (2)   -   (16,120)   (5,815)   -   - 
Fair Value, end of period assets/(liabilities) $ 4,699 $ 30,459 $ 86,915 $ 5,331 $ 3,381 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ - $ - $ - $ - 
   Asset management fees and other income $ - $ - $ - $ - $ 69 
                     
      Six Months Ended June 30, 2012    
      Equity Securities, Available for Sale  Other Long-Term Investments  Reinsurance Recoverables  Separate Account Assets (1) Future Policy Benefits 
  (in thousands)    
Fair Value, beginning of period assets/(liabilities) $ 2,652 $ 686 $ 868,824 $ 222,323   (912,987) 
 Total gains (losses) (realized/unrealized):                
  Included in earnings:                
   Realized investment gains (losses), net   (201)   (1,961)   (19,147)   (611)   25,115 
   Asset management fees and other income   -   5   -   -   - 
   Interest credited to policyholders' account balances   -   -   -   3,862   - 
  Included in other comprehensive income (loss)   (192)   -   -   -   - 
 Net investment income   -   -   -   -   - 
 Purchases   -   4,925   187,246   54,916   - 
 Sales   -   -   -   (43,856)   - 
 Issuances   -   -   -   -   (199,631) 
 Settlements   -   6   -   -   - 
 Transfers into Level 3 (2)   -   -   -   -   - 
 Transfers out of Level 3 (2)   (4)   -   -   -   - 
Fair Value, end of period assets/(liabilities) $ 2,255 $ 3,661 $ 1,036,923 $ 236,634   (1,087,503) 
                     
Unrealized gains (losses) for the period relating to those                
 Level 3 assets that were still held at the end of the period (3):                
  Included in earnings:                
   Realized investment gains (losses), net $ - $ (1,851) $ (12,466) $ -   18,124 
   Asset management fees and other income $ - $ 5 $ - $ -   - 
   Interest credited to policyholders' account balances $  $ - $ - $ 3,862   - 
Fair Value Disclosure Financial Instruments Not Carried at Fair Value
    June 30, 2013  December 31, 2012
    Fair Value Carrying Amount (1)  Fair Value  Carrying Amount
    Level 1 Level 2 Level 3 Total Total  Total  Total
                        
  (in thousands)      
Assets:                     
 Commercial mortgage and other loans $ - $ 5,235 $ 1,608,548 $1,613,783 $ 1,507,446 $ 1,616,804 $ 1,463,977
 Policy loans   -   -   1,341,860  1,341,860   1,086,128   1,455,412   1,079,714
 Cash   19,963   -   -  19,963   19,963   94,410   94,410
 Accrued investment income   -   94,415   -  94,415   94,415   90,653   90,653
 Receivables from parent and affiliates   -   133,467   -  133,467   132,911   (3,146)   (3,751)
 Other assets   -   38,228   -  38,228   38,228   32,782   32,176
  Total Assets $ 19,963 $ 271,345 $ 2,950,408 $ 3,241,716 $ 2,879,091 $ 3,286,915 $ 2,757,179
                        
Liabilities:                     
 Policyholders' Account Balances - Investment Contracts $ - $ 793,614 $ 47,993 $841,607 $ 846,333 $ 793,280 $ 796,816
 Cash collateral for loaned securities   - $ 89,632 $ - $89,632 $ 89,632 $ 48,068 $ 48,068
 Securities sold under agreement to repurchase   - $ - $ - $0 $ - $ - $ -
 Short-term debt   - $ 346,317 $ - $346,317 $ 343,000 $ 272,981 $ 272,000
 Long-term debt   - $ 1,414,769 $ - $1,414,769 $ 1,382,000 $ 1,563,185 $ 1,511,000
 Payables to parent and affiliates   - $ 112,242 $ - $112,242 $ 112,242 $ 6,694 $ 6,694
 Other liabilities   -   231,363   -  231,363   231,363   224,751   224,751
  Total liabilities $ - $ 2,987,937 $ 47,993 $ 3,035,930 $ 3,004,570 $ 2,908,959 $ 2,859,329
                        
 
Fair Value Inputs Quantitative Information [Table Text Block]
  As of June 30, 2013    
  Fair ValueValuation TechniquesUnobservable Inputs MinimumMaximum Weighted Average Impact of Increase in Input on Fair Value (1)
                
  (in thousands)           
Assets:              
Corporate securities$ 16,411 Discounted cash flow Discount rate 8.22% 15.00% 10.56% Decrease
    Market Comparables EBITDA Multiples(2) 6.0X 7.5X 6.38X Increase
     Liquidation Liquidation value 31.14% 78.52% 62.75% Increase
Liabilities:              
Other Liabilities  370,489 Represents reinsurance of variable annuity living benefit in a liability position. Fair values are determined in the same manner as future policy benefits
Future policy benefits (3)$ (366,311) Discounted cash flow Lapse rate (4) 0% 14%   Decrease
      NPR spread (5) 0.11% 1.59%   Decrease
      Utilization rate (6) 70% 94%   Increase
      Withdrawal rate (7) 85% 100%   Increase
      Mortality rate (8) 0% 13%   Decrease
      Equity Volatility curve 18% 33%   Increase
                
  As of December 31, 2012    
  Fair ValueValuation TechniquesUnobservable Inputs MinimumMaximum Weighted Average Impact of Increase in Input on Fair Value (1)
                
  (in thousands)           
Assets:              
Corporate securities$ 31,356 Discounted cash flow Discount rate 8.90% 1.75% 10.60% Decrease
     Cap at call price Call price 100% 100%   Increase
     Liquidation Liquidation value 98% 98%   Increase
Reinsurance recoverables $ 1,287,157 Fair values are determined in the same manner as future policy benefits    
Liabilities:              
Future policy benefits (3)$ 1,417,891 Discounted cash flow Lapse rate (4) 0% 14%   Decrease
      NPR spread (5) 0.20% 1.60%   Decrease
      Utilization rate (6) 70% 94%   Increase
      Withdrawal rate (7) 85% 100%   Increase
      Mortality rate (8) 0% 13%   Decrease
      Equity Volatility curve 19% 34%   Increase
 
Fair Value Level Three Amounts By Pricing Source [Table Text Block]
    As of June 30, 2013
    Internal (1) External (2) Total
            
    (in thousands)
Corporate securities   16,411   2,192   18,603
Asset-backed securities   5,738   124,137   129,875
Commercial mortgage-backed securities   -   5,047   5,047
Equity securities   1,466   3,959   5,425
Other long-term investments    -   931   931
Receivables from parents and affiliates   -   3,648   3,648
Sub-total excluding separate account assets    23,615   139,914   163,529
            
Separate account assets   78,399   192,777   271,176
Total assets $ 102,014 $ 332,691 $ 434,705
Future policy benefits $ (366,311) $ - $ (366,311)
Other Liabilities   370,489   -   370,489
Total liabilities $ 4,178 $ - $ 4,178
            
    As of December 31, 2012
    Internal (1) External (2) Total
            
    (in thousands)
Corporate securities   31,356   5,625   36,981
Asset-backed securities   5,929   102,798   108,727
Equity securities   1,489   3,277   4,766
Other long-term investments    232   756   988
Reinsurance recoverables   1,287,157   -   1,287,157
Receivables from parents and affiliates   -   1,995   1,995
Sub-total excluding separate account assets    1,326,163   114,451   1,440,614
            
Separate account assets   77,286   170,969   248,255
Total assets $ 1,403,449 $ 285,420 $ 1,688,869
Future policy benefits $ 1,417,891 $ - $ 1,417,891
Total liabilities $ 1,417,891 $ - $ 1,417,891