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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Premiums $ 842,597 $ 8,110 $ 848,087 $ 17,302
Policy charges and fee income 526,019 191,409 675,525 382,792
Net investment income 84,820 34,056 117,830 71,645
Asset administration fees and other income 101,695 54,716 129,026 108,759
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities 0 (19) (3,755) (44)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss) 0 8 1,818 24
Other realized investment gains (losses), net (2,447,694) (9,145) (2,459,999) 4,339
Total realized investment gains (losses), net (2,447,694) (9,156) (2,461,936) 4,319
Total revenues (892,563) 279,135 (691,468) 584,817
BENEFITS AND EXPENSES        
Policyholders’ benefits 539,603 11,657 563,279 23,646
Interest credited to policyholders’ account balances 55,141 16,268 186,800 107,898
Amortization of deferred policy acquisition costs 77,865 7,327 285,341 148,387
General, administrative and other expenses 542,453 87,634 609,232 174,706
Total benefits and expenses 1,215,062 122,886 1,644,652 454,637
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (2,107,625) 156,249 (2,336,120) 130,180
Income tax expense (benefit) (791,395) 24,335 (877,225) 19,568
NET INCOME (LOSS) (1,316,230) 131,914 (1,458,895) 110,612
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (11) 19 17 (40)
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period 357,485 (38,033) 382,987 (23,240)
Reclassification adjustment for (gains) losses included in net income (87,081) (3,042) (84,935) (4,904)
Net unrealized investment gains (losses) 270,404 (41,075) 298,052 (28,144)
Other comprehensive income (loss), before tax: 270,393 (41,056) 298,069 (28,184)
Less: Income tax expense (benefit) related to other comprehensive income (loss)        
Foreign currency translation adjustments (4) 7 6 (14)
Net unrealized investment gains (losses) 94,642 (14,335) 104,318 (9,809)
Total 94,638 (14,328) 104,324 (9,823)
Other comprehensive income (loss), net of tax 175,755 (26,728) 193,745 (18,361)
COMPREHENSIVE INCOME (LOSS) $ (1,140,475) $ 105,186 $ (1,265,150) $ 92,251