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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Premiums $ 18,471 $ 13,295 $ 35,736 $ 34,329
Policy charges and fee income 524,788 547,343 1,032,722 1,102,633
Net investment income 131,972 100,160 257,041 196,871
Asset administration fees and other income 115,205 98,603 224,593 198,140
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities 0 (151) (1,857) (437)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss) 0 0 (168) 0
Other realized investment gains (losses), net (894,215) 10,010 (2,234,409) 568,986
Total realized investment gains (losses), net (894,215) 9,859 (2,236,434) 568,549
Total revenues (103,779) 769,260 (686,342) 2,100,522
BENEFITS AND EXPENSES        
Policyholders’ benefits 47,890 28,667 55,840 63,693
Interest credited to policyholders’ account balances 33,355 62,020 43,782 131,590
Amortization of deferred policy acquisition costs 40,132 167,392 30,041 323,825
Commission expense 221,090 216,356 451,282 451,677
General, administrative and other expenses 61,810 43,184 119,973 86,161
Total benefits and expenses 404,277 517,619 700,918 1,056,946
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (508,056) 251,641 (1,387,260) 1,043,576
Income tax expense (benefit) (339,286) 49,095 (318,466) 205,351
NET INCOME (LOSS) (168,770) 202,546 (1,068,794) 838,225
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (116) (361) (16) (1,128)
Net unrealized investment gains (losses) 423,402 (58,039) 707,830 (234,318)
Total 423,286 (58,400) 707,814 (235,446)
Less: Income tax expense (benefit) related to other comprehensive income (loss)        
Less: Income tax expense (benefit) related to other comprehensive income (loss) 88,891 (12,265) 148,642 (49,445)
Other comprehensive income (loss), net of tax 334,395 (46,135) 559,172 (186,001)
Comprehensive income (loss) $ 165,625 $ 156,411 $ (509,622) $ 652,224