Value of Business Acquired

12 Months Ended

Dec. 31, 2016

Value of Business Acquired

11. Value of Business Acquired

The following reflects the changes to the VOBA asset:

($ 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
Balance at beginning of period	$	247,702		$	231,521		$	290,795
Business acquired		—			—			—
Amortized to expense during the year(1)		(30,053	)		(40,880	)		(38,987	)
Adjustment for unrealized investment losses during the year		(30,948	)		57,061			(20,287	)
Balance at end of year	$	186,701		$	247,702		$	231,521

⁽¹⁾ Amount is included in Operating and acquisition expenses on the Consolidated Statements of Operations and Other Comprehensive Income (Loss)

The following table provides estimated percentage of the VOBA balance to be amortized for the years indicated:

	VOBA Amortization
2017		14	%
2018		11	%
2019		9	%
2020		8	%
2021 and thereafter		58	%