Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Components of Deferred Income Tax Assets and Liabilities

The components of the deferred income tax assets and liabilities as of December 31, 2015 and December 31, 2014 are as follows:

($ in thousands)	December 31, 2015			December 31, 2014
Deferred tax assets
Policyholder reserves	$	2,058,446		$	2,057,627
Deferred acquisition costs		41,664			24,850
Deferred financing costs		8,707			10,755
Net operating loss carryforward		—			7,500
Investments		120,893			—
Other assets		688			38
Total deferred tax assets	$	2,230,398		$	2,100,770
Deferred tax liabilities
Value of business acquired	$	(86,696	)	$	(81,032	)
Amounts recoverable from reinsurers		(2,076,251	)		(2,010,157	)
Investments		—			(45,935	)
Intangibles		(1,820	)		(1,820	)
Other liabilities		(591	)		(2,558	)
Total deferred tax liabilities	$	(2,165,358	)	$	(2,141,502	)
Net deferred tax asset/(liability)	$	65,040		$	(40,732	)

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 were as follows:

($ in thousands)	For the Year Ended December 31, 2015			For the Period from April 1, 2014 Through December 31, 2014
Expected federal income tax expense		45,062		$	15,722
Dividends received deduction		(2,443	)		(1,470	)
Other		3,475			(18	)
Total income tax expense	$	46,094		$	14,234

Predecessor

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations is as follows:

	Period from January 1, 2014 through March 31, 2014			2013
Statutory federal income tax rate		35.0	%		35.0	%
Other		—			—
Effective income tax rate		35.0	%		35.0	%

Components of Income Tax Expense

The components of income tax expense are as follows:

($ in thousands)	Period from January 1, 2014 through March 31, 2014		2013
Current	$	914	$	3,902
Deferred		8		(77	)
Total income tax expense	$	922	$	3,825