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Future Policy Benefit Reserve (Tables)

12 Months Ended

Dec. 31, 2013

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Components of future policy benefit reserve

Future policy benefit reserves are comprised of the following:



Year ended December 31 (U.S. dollars in thousands)	2013		2012
Traditional Life	$	827,341	$	805,558
Annuities	3,976,475		4,006,488
Total future policy benefit reserves	$	4,803,816	$	4,812,046

- Definition

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

+ References+ Details