Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Components of Deferred Income Tax Assets and Liabilities

The components of the deferred income tax assets and liabilities as of December 31, 2016 and 2015 are as follows:

($ in thousands)	December 31, 2016			December 31, 2015
Deferred tax assets
Policyholder reserves	$	2,139,431		$	2,058,446
Deferred acquisition costs		65,002			41,664
Deferred financing costs		6,311			8,707
Investments		29,721			120,893
Other assets		5,137			688
Total deferred tax assets	$	2,245,602		$	2,230,398
Deferred tax liabilities
Value of business acquired	$	(65,345	)	$	(86,696	)
Amounts recoverable from reinsurers		(2,172,500	)		(2,076,251	)
Intangibles		(1,820	)		(1,820	)
Other liabilities		(2,251	)		(591	)
Total deferred tax liabilities	$	(2,241,916	)	$	(2,165,358	)
Net deferred tax asset (liability)	$	3,686		$	65,040

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 years ended December 31, 2016 and 2015 and the period from April 1, 2014 through December 31, 2014 were as follows:

($ in thousands)	For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Period from April 1, 2014 Through December 31, 2014
Expected federal income tax expense	$	16,135		$	45,062		$	15,722
Dividends received deduction		(1,960	)		(2,443	)		(1,470	)
Other		472			3,475			(18	)
Total income tax expense	$	14,647		$	46,094		$	14,234

Predecessor

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

March 31, 2014. 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
Statutory federal income tax rate		35.0	%
Other		—
Effective income tax rate		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
Current	$	914
Deferred		8
Total income tax expense	$	922