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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Premiums $ (595) $ 7,887 $ 847,493 $ 25,189
Policy charges and fee income 544,181 183,926 1,219,706 566,718
Net investment income 115,318 33,110 233,147 104,755
Asset administration fees and other income 96,805 38,192 225,832 146,951
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (40) 0 (3,796) (44)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss) (42) 0 1,776 24
Other realized investment gains (losses), net (35,643) 5,687 (2,495,641) 10,026
Total realized investment gains (losses), net (35,725) 5,687 (2,497,661) 10,006
Total revenues 719,984 268,802 28,517 853,619
BENEFITS AND EXPENSES        
Policyholders’ benefits (8,933) 37,953 554,346 61,599
Interest credited to policyholders’ account balances (85,615) 110,894 101,184 218,792
Amortization of deferred policy acquisition costs (267,829) 169,443 17,512 317,830
General, administrative and other expenses 213,129 70,291 822,360 244,997
Total benefits and expenses (149,248) 388,581 1,495,402 843,218
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 869,232 (119,779) (1,466,885) 10,401
Income tax expense (benefit) 305,057 (14,953) (577,639) 4,615
NET INCOME (LOSS) 564,175 (104,826) (889,246) 5,786
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments 4 1 20 (39)
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period (11,691) (6,027) 371,299 (29,267)
Reclassification adjustment for (gains) losses included in net income (9,897) 252 (94,834) (4,652)
Net unrealized investment gains (losses) (21,588) (5,775) 276,465 (33,919)
Other comprehensive income (loss), before tax: (21,584) (5,774) 276,485 (33,958)
Less: Income tax expense (benefit) related to:        
Foreign currency translation adjustments 1 0 7 (14)
Net unrealized investment gains (losses) (7,556) (2,063) 96,762 (11,872)
Total (7,555) (2,063) 96,769 (11,886)
Other comprehensive income (loss), net of tax (14,029) (3,711) 179,716 (22,072)
COMPREHENSIVE INCOME (LOSS) $ 550,146 $ (108,537) $ (709,530) $ (16,286)