XML 57 R47.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value of Assets and Liabilities (Quantitative Info for Level 3 Inputs) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Corporate securities $ 225,363 $ 323,289
Policyholders’ account balances 11,663,141 11,749,651
Fair Value, Measurements, Recurring    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Future policy benefits 3,392,954 4,060,214
Policyholders’ account balances $ 1,933,466 2,040,532
Level 3 | Minimum        
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Fair Value Inputs, Policyholder Age 45 years  
Level 3 | Minimum     | Future policy benefits    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Mortality rate 0.00%  
Level 3 | Maximum        
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Fair Value Inputs, Policyholder Age 90 years  
Level 3 | Fair Value, Measurements, Recurring    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Future policy benefits $ 3,392,954 4,060,214
Policyholders’ account balances $ 1,933,466 $ 2,040,532
Level 3 | Internal | Minimum     | Discounted cash flow | Future policy benefits    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Lapse rate 1.00% 1.00%
Spread over LIBOR 0.20% 0.03%
Utilization rate 39.00% 39.00%
Withdrawal rate (greater than maximum range) 76.00% 76.00%
Mortality rate 0.00% 0.00%
Equity volatility curve 18.00% 16.00%
Level 3 | Internal | Minimum     | Discounted cash flow | Policyholders' account balances    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Lapse rate 1.00% 1.00%
Spread over LIBOR 0.20% 0.03%
Equity volatility curve 6.00% 6.00%
Level 3 | Internal | Minimum     | Discounted cash flow | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Discount rate 3.05% 2.34%
Level 3 | Internal | Minimum     | Market comparables | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
EBITDA multiples 6.5 6.5
Level 3 | Internal | Minimum     | Cost approach | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Liquidation value 62.58% 62.58%
Level 3 | Internal | Maximum     | Discounted cash flow | Future policy benefits    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Lapse rate 20.00% 20.00%
Spread over LIBOR 1.52% 1.13%
Utilization rate 96.00% 96.00%
Withdrawal rate (greater than maximum range) 100.00% 100.00%
Mortality rate 15.00% 15.00%
Equity volatility curve 26.00% 25.00%
Level 3 | Internal | Maximum     | Discounted cash flow | Policyholders' account balances    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Lapse rate 42.00% 42.00%
Spread over LIBOR 1.52% 1.13%
Equity volatility curve 33.00% 31.00%
Level 3 | Internal | Maximum     | Discounted cash flow | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Discount rate 20.00% 10.17%
Level 3 | Internal | Maximum     | Market comparables | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
EBITDA multiples 12.4 12.4
Level 3 | Internal | Maximum     | Cost approach | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Liquidation value 62.58% 62.58%
Level 3 | Internal | Weighted Average | Discounted cash flow | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Discount rate 3.79% 2.82%
Level 3 | Internal | Weighted Average | Market comparables | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
EBITDA multiples 9.2 8.8
Level 3 | Internal | Weighted Average | Cost approach | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Liquidation value 62.58% 62.58%
Level 3 | Internal | Fair Value, Measurements, Recurring | Future policy benefits    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Future policy benefits $ 3,392,954 $ 4,060,214
Level 3 | Internal | Fair Value, Measurements, Recurring | Policyholders' account balances    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Policyholders’ account balances 1,933,466 2,040,532
Level 3 | Internal | Fair Value, Measurements, Recurring | Corporate securities    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Corporate securities 154,669 163,312
Level 3 | Internal | Fair Value, Measurements, Recurring | Other assets    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Other assets 376,898 400,441
Level 3 | Internal | Fair Value, Measurements, Recurring | Reinsurance recoverables    
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]    
Reinsurance recoverables $ 1,866,253 $ 1,881,030