Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair values of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, presented in the Consolidated Balance Sheets were as follows:

	December 31,
	2016		2015
Assets
Derivative instruments, included in Short-term and other investments	$	8,694	$	2,501
Liabilities
Fixed indexed annuities - embedded derivatives, included in Other policyholder funds		59,393		39,021
Indexed universal life - embedded derivatives, included in Investment contract and life policy reserves		158		14

Derivative Instruments, Gain (Loss)

The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows:

 

	Year Ended December 31,
	2016		2015		2014
Change in fair value of derivatives (1):
Revenues
Net realized investment gains (losses)	$	4,024	$	(1,483)	$	995
Change in fair value of embedded derivatives:
Revenues
Net realized investment gains (losses)		(5,076)		2,529		(1,157)

(1) Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options.

Financing Receivable Credit Quality Indicators

The notional amount and fair value of call options by counterparty and each counterparty's long-term credit ratings were as follows:

	December 31, 2016								December 31, 2015
	Credit Rating (1)				Notional		Fair		Notional		Fair
Counterparty	S&P		Moody’s		Amount		Value		Amount		Value
Bank of America, N.A.		A+		A1	$	38,500	$	1,934	$	17,000	$	5
Barclays Bank PLC		A-		A1		66,800		1,543		7,600		137
Citigroup Inc.		BBB+		Baa1		-		-		17,300		845
Credit Suisse International		A		A1		65,200		4,281		12,000		167
Societe Generale		A		A2		15,600		936		80,800		1,347
Total					$	186,100	$	8,694	$	134,700	$	2,501

(1) As assigned by Standard & Poor’s Corporation (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”).