Certain Nontraditional Long-Duration Contracts (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Variable Annuity Contracts

As of December 31, 2014, the Company had the following guarantees associated with these contracts, by product and guarantee type:

	Successor
	December 31, 2014
($ in millions)	In the Event of Death		At Annuitization/ Accumulation(1)		For Cumulative Periodic Withdrawals		Accumulation at Specified Dates
Variable Annuity Contracts
Separate Account value	$	742.7	$	151.9	$	16.6	$	118.4
Net amount at risk	$	57.2	$	15.2	$	0.1	$	6.2
Average attained age of contractholders		60 years		N/A		N/A		N/A
Weighted average waiting period until guarantee date		N/A		None		N/A		6 years
Variable Life, Variable Universal Life and Universal Life Contracts
No Lapse Guarantees:
Separate Account value	$	325.1
General account value	$	31518.3
Net amount at risk	$	89,942.8
Average attained age of contractholders		51 years

As of December 31, 2013, the Company had the following guarantees associated with these contracts, by product and guarantee type:

	Predecessor
	December 31, 2013
($ in millions)	In the Event of Death		At Annuitization/ Accumulation(1)		For Cumulative Periodic Withdrawals		Accumulation at Specified Dates
Variable Annuity Contracts
Separate Account value	$	877.0	$	170.5	$	21.8	$	151.1
Net amount at risk	$	63.2	$	16.6	$	0.1	$	7.3
Average attained age of contractholders		59 years		N/A		N/A		N/A
Weighted average waiting period until guarantee date		N/A		None		N/A		6 years

Liabilities for Guarantee Benefits

In the Predecessor Period, secondary guarantees on interest-sensitive life and fixed annuities are included in policyholders’ account balances. Guaranteed minimum income benefits (“GMIB”), guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum accumulation benefits (“GMAB”) features are accounted for as bifurcated embedded derivatives and are recorded at fair value within Policyholders’ account balances on the Consolidated Balance Sheet (Successor).

	GMDB		GMIB		GMWB/ GMAB		Secondary Guarantees
($ in thousands)	Variable Annuity		Variable Annuity		Variable Annuity		Interest- Sensitive Life and Fixed Annuities			Total
Predecessor
Balance as of December 21, 2012	$	9,390	$	19,484	$	19,621	$	200,688		$	249,183
Less: reinsurance recoverable		9,390		19,484		19,621		200,688			249,183
Net balance as of December 31, 2012		—		—		—		—			—
Incurred guarantee benefits		—		—		—		—			—
Paid guarantee benefits		—		—		—		—			—
Net change		—		—		—		—			—
Net balance as of December 31, 2013		—		—		—		—			—
Plus reinsurance recoverable		8,444		8,743		9,444		281,771			308,402
Balance as of December 31, 2013	$	8,444	$	8,743	$	9,444	$	281,771		$	308,402
Less: reinsurance recoverable		8,444		8,743		9,444		281,771			308,402
Net balance as of December 31, 2013		—		—		—		—			—
Incurred guarantee benefits		—		—		—		—			—
Paid guarantee benefits		—		—		—		—			—
Net change		—		—		—		—			—
Net balance as of March 31, 2014		—		—		—		—			—
Plus reinsurance recoverable		8,057		7,122		8,499		293,704			317,382
Balance as of March 31, 2014	$	8,057	$	7,122	$	8,499	$	293,704		$	317,382
Successor
Balance as of April 1, 2014	$	8,057	$	7,122	$	8,499	$	552,163		$	575,841
Less: reinsurance recoverable		8,057		7,122		8,499		67,288			90,966
Net balance as of April 1, 2014		—		—		—		484,875			484,875
Incurred guarantee benefits		—		—		—		159,104			159,104
Paid guarantee benefits		—		—		—		(108,252	)		(108,252	)
Net change		—		—		—		50,852			50,852
Net balance as of December 31, 2014		—		—		—		535,727			535,727
Plus reinsurance recoverable		8,358		8,240		6,733		83,733			107,064
Balance as of December 31, 2014	$	8,358	$	8,240	$	6,733	$	619,460		$	642,791