Primerica (PRI) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Entity Registrant Name	Primerica, Inc.
Entity Central Index Key	0001475922
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	PRI
Amendment Flag	false
Entity Common Stock, Shares Outstanding		34,411,172
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-34680
Entity Tax Identification Number	27-1204330
Entity Current Reporting Status	Yes
Entity Address, Address Line One	1 Primerica Parkway
Entity Address, City or Town	Duluth
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30099
City Area Code	770
Local Phone Number	381-1000
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $3,012,735 in 2024 and $2,935,212 in 2023)	$ 2,782,140	$ 2,719,467
Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,299,228 in 2024 and $1,334,892 in 2023)	1,376,400	1,386,980
Short-term investments available-for-sale, at fair value (amortized cost: $271 in 2024 and $276 in 2023)	271	276
Equity securities, at fair value (historical cost: $22,775 in 2024 and $27,106 in 2023)	26,647	29,680
Trading securities, at fair value (cost: $3,800 in 2024 and $18,761 in 2023)	3,253	18,383
Policy loans and other invested assets	50,835	51,175
Total investments	4,239,546	4,205,961
Cash and cash equivalents	593,399	613,148
Accrued investment income	24,991	23,958
Reinsurance recoverables	2,920,417	3,015,777
Deferred policy acquisition costs, net	3,503,940	3,447,234
Renewal commissions receivable	176,298	190,258
Agent balances, due premiums and other receivables	287,459	273,066
Goodwill	127,707	127,707
Intangible assets, net (accumulated amortization: $28,875 in 2024 and $26,250 in 2023)	172,400	175,025
Income taxes	120,126	123,514
Operating lease right-of-use assets	52,135	53,693
Other assets	356,025	382,549
Separate account assets	2,334,911	2,395,842
Total assets	14,909,354	15,027,732
Liabilities:
Future policy benefits	6,548,050	6,742,025
Unearned and advance premiums	15,855	14,876
Policy claims and other benefits payable	517,468	513,803
Other policyholders’ funds	421,027	435,094
Note payable	593,909	593,709
Surplus note	1,376,028	1,386,592
Income taxes	197,714	135,247
Total lease liabilities	60,494	61,358
Other liabilities	581,342	583,434
Payable under securities lending	76,648	99,785
Separate account liabilities	2,334,911	2,395,842
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities	12,723,446	12,961,765
Stockholders' equity:
Common stock ($0.01 par value; authorized 500,000 shares in 2024 and 2023; issued and outstanding 34,609 shares in 2024 and 34,996 shares in 2023)	346	350
Retained earnings	2,285,937	2,276,946
Accumulated other comprehensive income (loss), net of income tax:
Effect of change in discount rate assumptions on the liability for future policy benefits	92,853	(39,086)
Unrealized foreign currency translation gains (losses)	(11,691)	(2,235)
Net unrealized investment gains (losses) on available-for-sale securities	(181,537)	(170,008)
Total stockholders' equity	2,185,908	2,065,967
Total liabilities and stockholders' equity	$ 14,909,354	$ 15,027,732

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed-maturity security held to maturity, fair value	$ 1,299,228	$ 1,334,892
Equity securities, at fair value, historical cost	22,775	27,106
Trading securities, amortized cost	3,800	18,761
Intangible assets, net
Accumulated amortization	$ 28,875	$ 26,250
Equity attributable to Primerica, Inc.:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	34,609,000	34,996,000
Common stock, shares outstanding	34,609,000	34,996,000
Fixed Maturities
Investments:
Fixed-maturity securities and Short-term investments available-for-sale, amortized cost	$ 3,012,735	$ 2,935,212
Short-Term Investments
Investments:
Fixed-maturity securities and Short-term investments available-for-sale, amortized cost	$ 271	$ 276

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Direct premiums	$ 841,047	$ 817,872
Ceded premiums	(409,764)	(405,347)
Net premiums	431,283	412,525
Commissions and fees	255,021	231,547
Investment income net of investment expenses	53,591	47,500
Interest expense on surplus note	(15,785)	(16,435)
Net investment income	37,806	31,065
Realized investment gains (losses)	7	(985)
Other investment gains (losses)	1,298	(3,623)
Investment gains (losses)	1,305	(4,608)
Other, net	17,415	19,507
Revenues	742,830	690,036
Benefits and expenses:
Benefits and claims	166,321	163,265
Future policy benefits remeasurement (gain) loss	55	559
Amortization of deferred policy acquisition costs	72,049	67,923
Sales commissions	131,138	110,874
Insurance expenses	63,149	61,125
Insurance commissions	9,634	8,138
Contract acquisition costs	13,533	14,984
Interest expense	6,771	6,690
Other operating expenses	100,944	89,536
Total benefits and expenses	563,594	523,094
Income before income taxes	179,236	166,942
Income taxes	41,332	38,843
Net income	137,904	128,099
Net income attributable to Primerica, Inc.	$ 137,904	$ 128,099
Earnings per share:
Basic earnings per share	$ 3.94	$ 3.47
Diluted earnings per share	$ 3.93	$ 3.46
Weighted-average shares used in computing earnings per share:
Basic	34,883	36,710
Diluted	34,937	36,804

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 137,904	$ 128,099
Unrealized investment gains (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) on available-for-sale securities	(14,843)	38,549
Reclassification adjustment for investment (gains) losses included in net income	(7)	3,137
Effect of change in discount rate assumptions on the liability for future policy benefits	168,086	(181,281)
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses)	(9,456)	1,020
Total other comprehensive income (loss) before income taxes	143,780	(138,575)
Income tax expense (benefit) related to items of other comprehensive income (loss)	32,826	(29,924)
Other comprehensive income (loss), net of income taxes	110,954	(108,651)
Total comprehensive income (loss)	$ 248,858	$ 19,448

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), Net of Income Tax [Member]
Balance, beginning of period at Dec. 31, 2022		$ 368		$ 2,153,617	$ (122,731)
Share-based compensation			$ 16,622
Net issuance of common stock		2	(2)
Repurchases of common stock		(6)	(16,620)	(80,378)
Net Income (Loss)	$ 128,099			128,099
Dividends				(23,910)
Effect of change in discount rate assumptions on the liability for future policy benefits					(142,382)
Change in foreign currency translation adjustment					1,020
Change in net unrealized investment gains (losses) during the period					32,711
Balance, end of period at Mar. 31, 2023	$ 1,946,410	364		2,177,428	(231,382)
Dividends declared per share	$ 0.65
Balance, beginning of period at Dec. 31, 2023	$ 2,065,967	350		2,276,946	(211,329)
Share-based compensation			14,813
Net issuance of common stock		1	(1)
Repurchases of common stock	(109,100)	(5)	$ (14,812)	(102,657)
Net Income (Loss)	137,904			137,904
Dividends				(26,256)
Effect of change in discount rate assumptions on the liability for future policy benefits					131,939
Change in foreign currency translation adjustment					(9,456)
Change in net unrealized investment gains (losses) during the period					(11,529)
Balance, end of period at Mar. 31, 2024	$ 2,185,908	$ 346		$ 2,285,937	$ (100,375)
Dividends declared per share	$ 0.75

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 137,904	$ 128,099
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Change in future policy benefits and other policy liabilities	19,794	(9,799)
Deferral of policy acquisition costs	(134,768)	(126,640)
Amortization of deferred policy acquisition costs	72,049	67,923
Change in income taxes	30,335	19,524
Investment (gains) losses	(1,305)	4,608
Accretion and amortization of investments	(1,040)	(309)
Depreciation and amortization	7,165	8,547
Change in reinsurance recoverables	47,987	43,397
Change in agent balances, due premiums and other receivables	(13,444)	(5,486)
Change in renewal commissions receivable	13,961	5,634
Trading securities sold, matured, or called (acquired), net	15,084	(14,808)
Share-based compensation	12,614	12,129
Change in other operating assets and liabilities, net	4,562	43,127
Net cash provided by (used in) operating activities	210,898	175,946
Available-for-sale investments sold, matured or called:
Fixed-maturity securities — sold		5,179
Fixed-maturity securities — matured or called	86,418	80,251
Equity securities — sold		5
Equity securities — matured or called	4,324
Available-for-sale investments acquired:
Fixed-maturity securities	(168,644)	(108,713)
Equity securities — acquired		(47)
Purchases of property and equipment and other investing activities, net	(8,386)	(7,861)
Cash collateral received (returned) on loaned securities, net	(23,136)	(26,486)
Sales (purchases) of short-term investments using securities lending collateral, net	23,136	26,486
Net cash provided by (used in) investing activities	(86,288)	(31,186)
Cash flows from financing activities:
Dividends paid	(26,256)	(23,910)
Common stock repurchased	(109,109)	(85,275)
Tax withholdings on share-based compensation	(7,460)	(9,739)
Finance leases	(65)	(68)
Net cash provided by (used in) financing activities	(142,890)	(118,992)
Effect of foreign exchange rate changes on cash	(1,469)	82
Change in cash and cash equivalents	(19,749)	25,850
Cash and cash equivalents, beginning of period	613,148	489,240	$ 489,240
Cash and cash equivalents, end of period	$ 593,399	$ 515,090	$ 613,148

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 137,904	$ 128,099

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Trading Plans During the quarter ended March 31, 2024 , none of our directors or executive officers adopted or terminated any "Rule 10b5-1 trading arrangement" or any "non-Rule 10b5-1 trading arrangement," as those terms are defined in Item 408 of Regulation S-K, except for the following: • On March 14, 2024 , Glenn Williams , the Company’s Chief Executive Officer , adopted a trading arrangemen t that provides for the sale of an aggregate of up to 12,000 shares of the Company’s common stock between June 13, 2024 and February 23, 2025 .
Glenn Williams [Member]
Trading Arrangements, by Individual
Name	Glenn Williams
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 14, 2024
Arrangement Duration	256 days
Aggregate Available	12,000
Trd Arr Expiration Date	February 23, 2025
Directors And Executive Officers [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business, Basis

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	(1) Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies Description of Business . Primerica, Inc. (the “Parent Company”), together with its subsidiaries (collectively, “we”, “us” or the “Company”), is a leading provider of financial products and services to middle-income households in the United States and Canada through a network of independent contractor sales representatives (“independent sales representatives” or “independent sales force”). We assist our clients in meeting their needs for term life insurance, which we underwrite, and mutual funds, annuities, managed investments and other financial products, which we distribute primarily on behalf of third parties. Our primary subsidiaries include the following entities: Primerica Financial Services, LLC, a general agency and marketing company; Primerica Life Insurance Company (“Primerica Life”), our principal life insurance company; Primerica Financial Services (Canada) Ltd., a holding company for our Canadian operations, which includes Primerica Life Insurance Company of Canada (“Primerica Life Canada”) and PFSL Investments Canada Ltd.; PFS Investments Inc., an investment products company and broker-dealer; and Primerica Health, Inc, a holding company for our senior health operations, which includes e-TeleQuote Insurance, Inc. and subsidiaries (collectively, “e-TeleQuote”), which markets Medicare-related insurance products underwritten by third-party health insurance carriers to eligible Medicare beneficiaries through its licensed health insurance agents. Primerica Life, domiciled in Tennessee, owns National Benefit Life Insurance Company, a New York insurance company. Vidalia Re, Inc. (“Vidalia Re”) is a special purpose financial captive insurance company and wholly owned subsidiary of Primerica Life. Vidalia Re has entered into a separate coinsurance agreement with Primerica Life whereby Primerica Life has ceded certain level-premium term life insurance policies to Vidalia Re (the “Vidalia Re Coinsurance Agreement”). Basis of Presentation . We prepare our financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”). The accompanying unaudited condensed consolidated financial statements contain all adjustments, generally consisting of normal recurring accruals, which are necessary to fairly present the balance sheets as of March 31, 2024 and December 31, 2023, the statements of income, comprehensive income, and stockholders’ equity for the three months ended March 31, 2024 and 2023, and cash flows for the three months ended March 31, 2024 and 2023. Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods. These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Annual Report”). Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect financial statement balances, revenues and expenses and cash flows, as well as the disclosure of contingent assets and liabilities. Management considers available facts and knowledge of existing circumstances when establishing the estimates included in our financial statements. The most significant items that involve a greater degree of accounting estimates and actuarial determinations subject to change in the future are the valuation of investments, deferred policy acquisition costs (“DAC”), liability for future policy benefits (“LFPB”) and corresponding amounts recoverable from reinsurers, renewal commissions receivable, income taxes, and valuation of intangible assets and goodwill. Estimates for these and other items are subject to change and are reassessed by management in accordance with U.S. GAAP. Actual results could differ from those estimates. Consolidation. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and those entities required to be consolidated under U.S. GAAP. All material intercompany profits, transactions, and balances among the consolidated entities have been eliminated. Changes to Accounting Policies . All significant accounting policies remain unchanged from the 2023 Annual Report unless otherwise described. Reclassifications. Certain reclassifications have been made to prior period amounts to conform to current period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity. Correction of Immaterial Errors on Previously Issued Financial Statements. As previously disclosed in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, the Company identified immaterial errors in amounts presented in the unaudited condensed consolidated financial statements included in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (“Previously-reported Financial Statements”) related to the measurement of reinsurance recoverables and DAC in conjunction with the adoption of Accounting Standard Update No. 2018-12 , Financial Services—Insurance (Topic 944)—Targeted Improvements to the Accounting for Long-Duration Contracts (“LDTI”). The resulting impact to our unaudited condensed consolidated statement of income for the three months ended March 31, 2023 was an overstatement of benefits and claims, an understatement of future policy benefits remeasurement loss and an understatement of DAC amortization along with the related income tax impact that netted to cause an understatement of net income. In accordance with FASB ASC 250, Accounting Changes and Error Corrections , the Company evaluated the materiality of these errors quantitatively and qualitatively and concluded that these prior period errors were immaterial to the Previously-reported Financial Statements. As such, the Company revised the prior period financial information included in the accompanying unaudited condensed consolidated financial statements for the quarter ended March 31, 2023, initially presented in the Previously-reported Financial Statements, to correct these errors. The revisions resulted in an increase to net income of $ 3.0 million, or 2.4 % , and increases to each of basic and diluted earnings per share of $ 0.08 , or 2.4 % in the accompanying unaudited condensed consolidated statement of income for the three months ended March 31, 2023 compared with the Previously-reported Financial Statements. Prior period information included in the notes herein to the accompanying unaudited condensed consolidated financial statements have also been revised as needed. These errors were specifically related to the Company’s accounting estimates under LDTI and no financial statements prior to the adoption of LDTI were affected. Management detected and corrected these errors during the second quarter of 2023 as previously disclosed, and the errors do not affect financial information subsequent to the date of the Previously-reported Financial Statements. New Accounting Standards Not Yet Adopted. Accounting standard Adoption date Description Effects on the financial statements Segment Reporting (Topic 280)— Improvements to Reportable Segment Disclosures ASU 2023-07 Annual periods beginning after December 15, 2023 and interim periods thereafter. Early adoption is permitted. Retrospective transition for all periods presented. In November 2023, the FASB issued the ASU to enhance segment disclosures. The amendments (1) require disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; (2) require disclosure of “other segment items” by reportable segment, which is the difference between segment revenue and significant segment expenses; (3) require annual segment disclosures to be included in interim financial statements; (4) clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, an entity may report one or more of those additional measures; and (5) require disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. We do not believe the adoption of the standard will have a material impact on our consolidated financial statements. We will revise disclosures in accordance with the new standard in our annual 2024 financial statements and for interim periods thereafter. Income Taxes (Topic 740)—Improvements to Income Tax Disclosures ASU 2023-09 Annual periods beginning after December 15, 2024. Early adoption is permitted. Prospective transition, although retrospective transition is permitted. In December 2023, the FASB issued the ASU to increase income tax transparency through improvements primarily related to the existing rate reconciliation and income taxes paid disclosures. The amendments require (1) consistent categories and greater disaggregation of information in the rate reconciliation; and (2) income taxes paid disaggregated by jurisdiction. The ASU also removes certain disclosure requirements, such as reasonably possible significant changes in the total amount of unrecognized tax benefits within 12 months of the reporting date. We do not believe the adoption of the standard will have a material impact on our consolidated financial statements. We will revise disclosures in accordance with the new standard in our annual 2025 financial statements. In addition, in March 2024, the SEC issued final rules that include updates to Regulation S-X for climate-related disclosures (the “Climate-Related Disclosures rule”). The Climate-Related Disclosures rule is currently stayed pending the completion of judicial review. The Climate-Related Disclosures rule requires a registrant to disclose in the notes to the financial statements (1) expenditures and losses, and capitalized costs and charges in each case excluding recoveries, incurred or recognized during a fiscal year as a result of severe weather events and other natural conditions; and (2) where material to a company's plan to achieve disclosed climate-related targets or goals, information regarding carbon offsets and renewable energy credits. The adoption of the Climate-Related Disclosures rule will impact our disclosures and may require changes to certain of our processes, systems, and controls. We are currently evaluating existing processes and data to determine what changes may be necessary. If the stay is lifted, the updates to Regulation S-X included in the Climate-Related Disclosures rule would be effective for the Company’s Form 10-K for the fiscal year ending December 31, 2025. Recently issued accounting guidance not discussed above is not applicable, is immaterial to our consolidated financial statements, or did not or is not expected to have a material impact on our business.

Segment and Geographical Inform

Segment and Geographical Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment and Geographical Information	(2) Segment and Geographical Information Segments. We have three primary operating segments – Term Life Insurance, Investment and Savings Products, and Senior Health. We also have a Corporate and Other Distributed Products segment. Notable information included in profit or loss by segment was as follows: Three months ended March 31, 2024 2023 (In thousands) Revenues: Term life insurance segment $ 440,412 $ 421,069 Investment and savings products segment 243,716 210,202 Senior health segment 6,880 18,710 Corporate and other distributed products segment 51,822 40,055 Total revenues $ 742,830 $ 690,036 Net investment income: Term life insurance segment $ - $ - Investment and savings products segment - - Senior health segment - - Corporate and other distributed products segment 37,806 31,065 Total net investment income $ 37,806 $ 31,065 Amortization of DAC: Term life insurance segment $ 70,491 $ 66,068 Investment and savings products segment 1,201 1,493 Senior health segment - - Corporate and other distributed products segment 357 362 Total amortization of DAC $ 72,049 $ 67,923 Non-cash share-based compensation expense: Term life insurance segment $ 2,142 $ 1,850 Investment and savings products segment 1,039 993 Senior health segment 99 160 Corporate and other distributed products segment 9,334 9,071 Total non-cash share-based compensation expense $ 12,614 $ 12,074 Income (loss) before income taxes: Term life insurance segment $ 138,367 $ 130,541 Investment and savings products segment 65,562 56,106 Senior health segment ( 14,153 ) ( 3,762 ) Corporate and other distributed products segment ( 10,540 ) ( 15,943 ) Total income (loss) before income taxes $ 179,236 $ 166,942 Total assets by segment were as follows: March 31, 2024 December 31, 2023 (In thousands) Assets: Term life insurance segment $ 6,514,070 $ 6,543,923 Investment and savings products segment (1) 2,484,768 2,537,079 Senior health segment 404,888 419,110 Corporate and other distributed products segment 5,505,628 5,527,620 Total assets $ 14,909,354 $ 15,027,732 (1) The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $ 149.9 million and $ 141.3 million as of March 31, 2024 and December 31, 2023 , respectively. Geographical Information. Results of operations by country and long-lived assets – primarily tangible assets reported in other assets in our unaudited condensed consolidated balance sheets – were as follows: Three months ended March 31, 2024 2023 (In thousands) Revenues by country: United States $ 647,342 $ 603,850 Canada 95,488 86,186 Total revenues $ 742,830 $ 690,036 March 31, 2024 December 31, 2023 (In thousands) Long-lived assets by country: United States $ 38,575 $ 35,434 Canada 2,490 2,636 Other 188 197 Total long-lived assets $ 41,253 $ 38,267

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	(3) Investments Available-for-sale Securities. The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale (“AFS”) securities were as follows: March 31, 2024 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 10,378 $ 11 $ ( 514 ) $ 9,875 Foreign government 168,671 656 ( 10,507 ) 158,820 States and political subdivisions 144,543 575 ( 14,894 ) 130,224 Corporates 1,778,147 10,844 ( 126,858 ) 1,662,133 Residential mortgage-backed securities 513,935 1,089 ( 68,039 ) 446,985 Commercial mortgage-backed securities 123,895 120 ( 12,911 ) 111,104 Other asset-backed securities 273,166 1,039 ( 11,206 ) 262,999 Total fixed-maturity securities 3,012,735 14,334 ( 244,929 ) 2,782,140 Short-term investments 271 - - 271 Total fixed-maturity and short-term investments $ 3,013,006 $ 14,334 $ ( 244,929 ) $ 2,782,411 December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 9,974 $ 18 $ ( 476 ) $ 9,516 Foreign government 170,354 1,616 ( 8,588 ) 163,382 States and political subdivisions 145,779 891 ( 14,681 ) 131,989 Corporates 1,723,023 14,787 ( 120,286 ) 1,617,524 Residential mortgage-backed securities 499,771 1,688 ( 63,928 ) 437,531 Commercial mortgage-backed securities 127,454 156 ( 15,443 ) 112,167 Other asset-backed securities 258,857 763 ( 12,262 ) 247,358 Total fixed-maturity securities 2,935,212 19,919 ( 235,664 ) 2,719,467 Short-term investments 276 - - 276 Total fixed-maturity and short-term investments $ 2,935,488 $ 19,919 $ ( 235,664 ) $ 2,719,743 All of our AFS mortgage- and asset-backed securities represent beneficial interests in variable interest entities (“VIEs”). We are not the primary beneficiary of these VIEs because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. The maximum exposure to loss as a result of our involvement in these VIEs equals the carrying value of the securities. The scheduled maturity distribution of the AFS fixed-maturity securities portfolio as of March 31, 2024 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 220,907 $ 218,962 Due after one year through five years 731,699 702,785 Due after five years through 10 years 794,837 718,088 Due after 10 years 354,296 321,217 2,101,739 1,961,052 Mortgage- and asset-backed securities 910,996 821,088 Total AFS fixed-maturity securities $ 3,012,735 $ 2,782,140 Expected maturities may differ from scheduled contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties. Trading Securities. The costs and fair values of the fixed-maturity securities classified as trading securities were as follows: March 31, 2024 December 31, 2023 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 3,800 $ 3,253 $ 18,761 $ 18,383 Held-to-maturity Security. Concurrent with the execution of the Vidalia Re Coinsurance Agreement, Vidalia Re entered into a Surplus Note Purchase Agreement (the “Surplus Note Purchase Agreement”) with Hannover Life Reassurance Company of America and certain of its affiliates (collectively, “Hannover Re”) and a newly formed limited liability company (the “LLC”) owned by a third- party service provider. Under the Surplus Note Purchase Agreement, Vidalia Re issued a surplus note (the “Surplus Note”) to the LLC in exchange for a credit enhanced note from the LLC with an equal principal amount (the “LLC Note”). The principal amount of both the LLC Note and the Surplus Note will fluctuate over time to coincide with the amount of reserves contractually supported under the Vidalia Re Coinsurance Agreement. Both the LLC Note and the Surplus Note mature on December 31, 2030 and bear interest at an annual interest rate of 4.50 % . The LLC Note is guaranteed by Hannover Re through a credit enhancement feature in exchange for a fee, which is reflected in interest expense on our unaudited condensed consolidated statements of income. The LLC is a VIE as its owner does not have an equity investment at risk that is sufficient to permit the LLC to finance its activities without Vidalia Re or Hannover Re. The Parent Company, Primerica Life, and Vidalia Re share the power to direct the activities of the LLC with Hannover Re, but they do not have the obligation to absorb losses or the right to receive any residual returns related to the LLC’s primary risks or sources of variability. Through the credit enhancement feature, Hannover Re is the ultimate risk taker in this transaction and bears the obligation to absorb the LLC’s losses in the event of a Surplus Note default in exchange for the fee. Accordingly, the Company is not the primary beneficiary of the LLC and does not consolidate the LLC within its unaudited condensed consolidated financial statements. See Note 5 (Reinsurance) for Hannover Re’s financial strength rating. The LLC Note is classified as a held-to-maturity debt security in the Company’s invested asset portfolio as we have the positive intent and ability to hold the security until maturity. As of March 31, 2024, the LLC Note had an estimated unrealized holding loss of $ 77.2 million based on its amortized cost and estimated fair value. The estimated fair value of the LLC Note is expected to be at least equal to the estimated fair value of the offsetting Surplus Note. See Note 15 (Debt) for more information on the Surplus Note. As of March 31, 2024 and December 31, 2023 , no credit losses have been recognized on the LLC Note. Investments on Deposit with Governmental Authorities. As required by law, we have investments on deposit with governmental authorities and banks for the protection of policyholders. The fair value of investments on deposit was $ 7.7 million and $ 7.3 million as of March 31, 2024 and December 31, 2023, respectively. Securities Lending Transactions. We participate in securities lending transactions with broker-dealers and other financial institutions to increase investment income with minimal risk. We require minimum collateral on securities loaned equal to 102 % of the fair value of the loaned securities. We accept collateral in the form of securities, which we are not able to sell or encumber, and to the extent the collateral declines in value below 100 %, we require additional collateral from the borrower. Any securities collateral received is not reflected on our unaudited condensed consolidated balance sheets. We also accept collateral in the form of cash, all of which we reinvest. For loans involving unrestricted cash collateral, the collateral is reported as an asset with a corresponding liability representing our obligation to return the collateral. We continue to carry the loaned securities as invested assets on our unaudited condensed consolidated balance sheets during the terms of the loans, and we do not report them as sales. Cash collateral received and reinvested was $ 76.6 million and $ 99.8 million as of March 31, 2024 and December 31, 2023 , respectively. Net Investment Income. The components of net investment income were as follows: Three months ended March 31, 2024 2023 (In thousands) Fixed-maturity securities (available-for-sale) $ 29,936 $ 25,806 Fixed-maturity security (held-to-maturity) 15,785 16,435 Equity securities 390 380 Policy loans and other invested assets 461 ( 71 ) Cash, cash equivalents and short-term investments 6,982 5,128 Total return on deposit asset underlying 10% coinsurance agreement (1) 2,174 2,049 Gross investment income 55,728 49,727 Investment expenses ( 2,137 ) ( 2,227 ) Investment income net of investment expenses 53,591 47,500 Interest expense on surplus note ( 15,785 ) ( 16,435 ) Net investment income $ 37,806 $ 31,065 (1) I ncludes $( 0.1 ) million and $( 0.3 ) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10 % coinsurance agreement for the three months ended March 31, 2024 and 2023 , respectively. The components of investment gains (losses), as well as details on gross realized investment gains (losses) and other investment gains (losses) were as follows: Three months ended March 31, 2024 2023 (In thousands) Realized investment gains (losses): Gross gains from sales of available-for-sale fixed-maturity securities $ 7 $ 49 Gross losses from sales of available-for-sale fixed-maturity securities - ( 1,034 ) Net realized investment gains (losses): 7 ( 985 ) Other investment gains (losses): Credit losses impairment of available-for-sale securities - ( 2,160 ) Market gains (losses) recognized in net income during the period on equity securities 1,296 ( 1,475 ) Gains (losses) from equity method investments - - Gains (losses) from bifurcated options ( 5 ) 8 Gains (losses) on trading securities 7 4 Other investment gains (losses): 1,298 ( 3,623 ) Investment gains (losses) $ 1,305 $ ( 4,608 ) The proceeds from sales or other redemptions of AFS securities were as follows: Three months ended March 31, 2024 2023 (In thousands) Proceeds from sales or other redemptions $ 86,418 $ 85,430 Accrued Interest. Accrued interest is recorded in accordance with the contractual interest schedule of the underlying security. In the event of default, the Company’s policy is to no longer accrue interest on these securities and to write off any remaining accrued interest. As a result, the Company has made the policy election to not record an allowance for credit losses on accrued interest. Credit Losses for AFS Fixed-maturity Securities. The following tables summarize all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2024, aggregated by major security type and by length of time such securities have continuously been in an unrealized loss position: March 31, 2024 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (In thousands) Fixed-maturity securities: U.S. government and agencies $ 1,880 $ ( 24 ) $ 7,674 $ ( 490 ) Foreign government 37,766 ( 644 ) 101,380 ( 9,863 ) States and political subdivisions 7,956 ( 98 ) 106,771 ( 14,796 ) Corporates 133,934 ( 1,582 ) 1,196,896 ( 125,276 ) Residential mortgage-backed securities 32,912 ( 446 ) 350,716 ( 67,593 ) Commercial mortgage-backed securities 2,010 ( 8 ) 98,186 ( 12,903 ) Other asset-backed securities 45,700 ( 208 ) 130,782 ( 10,998 ) Total fixed-maturity securities $ 262,158 $ ( 3,010 ) $ 1,992,405 $ ( 241,919 ) December 31, 2023 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (In thousands) Fixed-maturity securities: U.S. government and agencies $ - $ - $ 9,188 $ ( 476 ) Foreign government 17,209 ( 62 ) 104,827 ( 8,526 ) States and political subdivisions 4,883 ( 46 ) 107,021 ( 14,635 ) Corporates 39,783 ( 907 ) 1,231,694 ( 119,379 ) Residential mortgage-backed securities 14,872 ( 142 ) 360,987 ( 63,786 ) Commercial mortgage-backed securities 4,721 ( 107 ) 97,417 ( 15,336 ) Other asset-backed securities 41,417 ( 159 ) 136,841 ( 12,103 ) Total fixed-maturity securities $ 122,885 $ ( 1,423 ) $ 2,047,975 $ ( 234,241 ) The amortized cost of AFS securities with a cost basis in excess of their fair values were $ 2,499.5 million and $ 2,406.5 million as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024 , no allowance for credit losses was recorded for AFS securities. Substantially all of the unrealized losses were the result of change in market interest rates compared to the date the securities were acquired rather than the credit quality of the securities, and we have no present intention to dispose of them. We did no t recognize any credit losses on AFS securities for the three months ended March 31, 2024. We recognized $ 2.2 million for credit losses on AFS securities for the three months ended March 31, 2023 in the unaudited condensed consolidated statements of income. We recognize credit losses on securities due to: (i) our intent to sell them; (ii) adverse credit events indicating that we will not receive the security’s contractual cash flows when contractually due, such as news of an impending filing for bankruptcy; (iii) analyses of the issuer’s most recent financial statements or other information indicating that significant liquidity deficiencies, significant losses and large declines in capitalization exist; and (iv) analyses of rating agency information for issuances with severe ratings downgrades indicating a significant increase in the possibility of default. Derivatives. We have a deferred loss related to closed forward contracts, which were settled several years ago, that were used to mitigate our exposure to foreign currency exchange rates that resulted from the net investment in our Canadian operations. The amount of deferred loss included in accumulated other comprehensive income was $ 26.4 million as of each of March 31, 2024 and December 31, 2023 . These deferred losses will not be recognized until such time as we sell or substantially liquidate our Canadian operations, although we have no such intention.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(4) Fair Value of Financial Instruments Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Invested assets recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. We classify and disclose all invested assets carried at fair value in one of the following three levels: • Level 1. Quoted prices for identical instruments in active markets. Level 1 consists of financial instruments whose value is based on quoted market prices in active markets, such as cash, cash equivalents in money market funds, exchange-traded common stocks and actively traded mutual fund investments; • Level 2. Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. Level 2 includes those financial instruments that are valued using industry-standard pricing methodologies, models or other valuation methodologies. Various inputs are considered in deriving the fair value of the underlying financial instrument, including interest rate and yield curves, credit spread, and foreign exchange rates. All significant inputs are observable, or derived from observable information in the marketplace or are supported by observable levels at which transactions are executed in the marketplace. Financial instruments in this category could include: cash equivalents and short-term investments in U.S. treasury securities; certain public and private corporate fixed-maturity and equity securities; government or agency securities; and certain mortgage- and asset-backed securities; and • Level 3. Valuations derived from valuation techniques in which one or more significant inputs are unobservable. Level 3 consists of financial instruments whose fair value is estimated based on industry-standard pricing methodologies and models using significant inputs not based on, nor corroborated by, readily available market information. Valuations for this category primarily consist of non-binding broker quotes. Financial instruments in this category could include less liquid mortgage- and asset-backed securities and equity securities. As of each reporting period, all assets and liabilities recorded at fair value are classified in their entirety based on the lowest level of input (Level 3 being the lowest in the hierarchy) that is significant to the fair value measurement. Significant levels of estimation and judgment are required to determine the fair value of certain of our investments. The factors influencing these estimations and judgments are subject to change in subsequent reporting periods. The estimated fair value and hierarchy classifications for assets and liabilities that are measured at fair value on a recurring basis were as follows: March 31, 2024 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 9,875 $ - $ 9,875 Foreign government - 158,820 - 158,820 States and political subdivisions - 130,224 - 130,224 Corporates 3,946 1,658,187 - 1,662,133 Mortgage- and asset-backed securities: Residential mortgage-backed securities - 446,985 - 446,985 Commercial mortgage-backed securities - 111,104 - 111,104 Other asset-backed securities - 262,999 - 262,999 Total available-for-sale fixed-maturity securities 3,946 2,778,194 - 2,782,140 Short-term investments - 271 - 271 Total available-for-sale securities 3,946 2,778,465 - 2,782,411 Equity securities 24,038 978 1,631 26,647 Trading securities - 3,253 - 3,253 Cash and cash equivalents 593,399 - - 593,399 Separate accounts - 2,334,911 - 2,334,911 Total fair value assets $ 621,383 $ 5,117,607 $ 1,631 $ 5,740,621 Fair value liabilities: Separate accounts $ - $ 2,334,911 $ - $ 2,334,911 Total fair value liabilities $ - $ 2,334,911 $ - $ 2,334,911 December 31, 2023 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 9,516 $ - $ 9,516 Foreign government - 163,382 - 163,382 States and political subdivisions - 131,989 - 131,989 Corporates 3,951 1,613,573 - 1,617,524 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 437,531 - 437,531 Commercial mortgage-backed securities - 112,167 - 112,167 Other asset-backed securities - 246,858 500 247,358 Total available-for-sale fixed-maturity securities 3,951 2,715,016 500 2,719,467 Short-term investments - 276 - 276 Total available-for-sale securities 3,951 2,715,292 500 2,719,743 Equity securities 27,062 974 1,644 29,680 Trading securities - 18,383 - 18,383 Cash and cash equivalents 613,148 - - 613,148 Separate accounts - 2,395,842 - 2,395,842 Total fair value assets $ 644,161 $ 5,130,491 $ 2,144 $ 5,776,796 Fair value liabilities: Separate accounts $ - $ 2,395,842 $ - $ 2,395,842 Total fair value liabilities $ - $ 2,395,842 $ - $ 2,395,842 In estimating fair value of our investments, we use a third-party pricing service for approximately all of our securities that are measured at fair value on a recurring basis. The remaining securities are primarily thinly-traded securities, such as private placements, and are valued using models based on observable inputs on public corporate spreads having similar characteristics (e.g., sector, average life and quality rating), liquidity and yield based on quality rating, average life and U.S. Treasury yields. All observable data inputs are corroborated by independent third-party data. We also corroborate pricing information provided by our third-party pricing service by performing a review of selected securities. Our review activities include: obtaining detailed information about the assumptions, inputs and methodologies used in pricing the security; documenting this information; and corroborating it by comparison to independently obtained prices and/or independently developed pricing methodologies. Furthermore, we perform internal reasonableness assessments on fair value determinations within our portfolio throughout the year and as of year-end, including pricing variance analyses and comparisons to alternative pricing sources and benchmark returns. If a fair value appears unusual relative to these assessments, we will re-examine the inputs and may challenge a fair value assessment made by the pricing service. If there is a known pricing error, we will request a reassessment by the pricing service. If the pricing service is unable to perform the reassessment on a timely basis, we will determine the appropriate price by requesting a reassessment from an alternative pricing service or other qualified source as necessary. We do not adjust quotes or prices except in a rare circumstance to resolve a known error. Because many fixed-maturity securities do not trade on a daily basis, third-party pricing services generally determine fair value using industry-standard methodologies, which vary by asset class. For corporates, governments, and agency securities, these methodologies include developing prices by incorporating available market information such as U.S. Treasury curves, benchmarking of similar securities including new issues, sector groupings, quotes from market participants and matrix pricing. Observable information is compiled and integrates relevant credit information, perceived market movements and sector news. Additionally, security prices are periodically back-tested to validate and/or refine models as conditions warrant. Market indicators and industry and economic events are also monitored as triggers to obtain additional data. For certain structured securities (such as mortgage- and asset-backed securities) with limited trading activity, third-party pricing services generally use industry-standard pricing methodologies that incorporate market information, such as index prices or discounting expected future cash flows based on underlying collateral, and quotes from market participants, to estimate fair value. If one or more of these input measures are not deemed observable for a particular security, the security will be classified as Level 3 in the fair value hierarchy. Where specific market information is unavailable for certain securities, pricing models produce estimates of fair value primarily using Level 2 inputs along with certain Level 3 inputs. These models include matrix pricing. The pricing matrix uses current U.S. Treasury rates and credit spreads received from third-party sources to estimate fair value. The credit spreads incorporate the issuer’s industry- or issuer-specific credit characteristics and the security’s time to maturity, if warranted. Remaining unpriced securities are valued using an estimate of fair value based on indicative market prices that include significant unobservable inputs not based on, nor corroborated by, market information, including the utilization of non-binding broker quotes. The roll-forward of the Level 3 assets measured at fair value on a recurring basis was as follows: Three months ended March 31, 2024 2023 (In thousands) Level 3 assets, beginning of period $ 2,144 $ 1,710 Net unrealized gains (losses) included in other comprehensive income 4 - Realized gains (losses) and accretion (amortization) recognized in earnings ( 13 ) ( 17 ) Purchases - 2,316 Sales - - Settlements - - Transfers into Level 3 - - Transfers out of Level 3 ( 504 ) - Level 3 assets, end of period $ 1,631 $ 4,009 We obtain independent pricing quotes based on observable inputs as of the end of the reporting period for all securities in Level 2. Those inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers, quoted prices for similar instruments in markets that are not active, and other relevant data. We monitor these inputs for market indicators, industry and economic events. There were no material transfers between Level 1 and Level 3 during the three months ended March 31, 2024 and 2023. The carrying values and estimated fair values of our financial instruments were as follows: March 31, 2024 December 31, 2023 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,782,140 $ 2,782,140 $ 2,719,467 $ 2,719,467 Fixed-maturity security (held-to-maturity) (1) 1,376,400 1,299,228 1,386,980 1,334,892 Short-term investments (available-for-sale) 271 271 276 276 Equity securities 26,647 26,647 29,680 29,680 Trading securities 3,253 3,253 18,383 18,383 Policy loans (1) 39,052 39,052 38,975 38,975 Deposit asset underlying 10 % coinsurance agreement (1) 182,684 182,684 187,377 187,377 Separate accounts 2,334,911 2,334,911 2,395,842 2,395,842 Liabilities: Note payable (2) (3) $ 593,909 $ 498,401 $ 593,709 $ 508,832 Surplus note (1) (2) 1,376,028 1,296,276 1,386,592 1,329,159 Separate accounts 2,334,911 2,334,911 2,395,842 2,395,842 (1) Classified as a Level 3 fair value measurement. (2) Carrying value amounts shown are net of unamortized issuance costs. (3) Classified as a Level 2 fair value measurement. The fair values of financial instruments presented above are estimates of the fair values at a specific point in time using various sources and methods, including market quotations and a complex matrix system that takes into account issuer sector, quality, and spreads in the current marketplace. Financial Instruments Recognized at Fair Value in the Balance Sheets. Estimated fair values of investments in AFS securities are principally a function of current spreads and interest rates that are corroborated by independent third-party data. Therefore, the fair values presented are indicative of amounts we could realize or settle at the respective balance sheet date. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. Trading securities and equity securities, including common and nonredeemable preferred stocks, are carried at fair value. Segregated funds in separate accounts are carried at the underlying value of the variable insurance contracts, which is fair value. The carrying amounts for cash and cash equivalents, trade receivables, accrued investment income, accounts payable, cash collateral and payables for security transactions approximate their fair values due to the short-term nature of these instruments. Consequently, such financial instruments are not included in the above table.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2024
Reinsurance Disclosures [Abstract]
Reinsurance	(5) Reinsurance We use reinsurance extensively, which has a significant effect on our results of operations. Reinsurance arrangements do not relieve us of our primary obligation to the policyholder. Details on in-force life insurance were as follows: March 31, 2024 December 31, 2023 (Dollars in thousands) Direct life insurance in-force $ 949,216,091 $ 946,756,416 Amounts ceded to other companies ( 811,072,619 ) ( 810,145,801 ) Net life insurance in-force $ 138,143,472 $ 136,610,615 Percentage of reinsured life insurance in-force 85 % 86 % Benefits and claims ceded to reinsurers during the three months ended March 31, 2024 and 2023 were $ 357.0 million and $ 338.9 million, respectively. Reinsurance recoverables include ceded policy benefit reserve balances, ceded claim liabilities, and ceded claims paid that have not been reimbursed. The Company allocated reinsurance recoverables estimated at the cohort level to individual reinsurers for disclosure purposes. Reinsurance recoverables estimated by reinsurer and the financial strength ratings of those reinsurers were as follows: March 31, 2024 December 31, 2023 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Swiss Re Life and Health America, Inc. (Novated from Pecan Re Inc.) (1) $ 2,215,368 A+ $ 2,271,223 A+ Munich Re of Malta (1) (2) 229,847 NR 243,890 NR SCOR Global Life Reinsurance Companies (3) 147,608 A 160,381 A American Health and Life Insurance Company (1) 136,886 B++ 141,771 B++ Munich American Reassurance Company 46,557 A+ 50,273 A+ Swiss Re Life & Health America Inc. (4) 44,090 A+ 43,873 A+ RGA Reinsurance Company 43,201 A+ 43,188 A+ Korean Reinsurance Company 40,133 A 41,373 A All other reinsurers 17,775 - 20,925 - Allowance for credit losses ( 1,048 ) ( 1,120 ) Reinsurance recoverables $ 2,920,417 $ 3,015,777 NR – not rated by A.M. Best (1) Reinsurance recoverables include balances ceded under coinsurance transactions of term life insurance policies that were in-force as of December 31, 2009. Amounts shown are net of their share of the reinsurance recoverable from other reinsurers. Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables. (2) Entity is rated AA- by S&P. (3) Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies. (4) Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc. We estimate and recognize lifetime expected credit losses for reinsurance recoverables. In estimating the allowance for credit losses for reinsurance recoverables, we factor in the underlying collateral for reinsurance agreements where available. Specifically, for reinsurers with underlying trust assets, we compare the reinsurance recoverables balance to the underlying trust assets that mitigate the potential exposure to credit losses. We also analyze the financial condition of the reinsurers, as determined by third-party rating agencies, to determine the probability of default for the reinsurers. We then utilize a third-party credit default study to calculate an expected credit loss given default rate or recovery rate. The probability of default and loss given default rates are then applied to the reinsurers’ recoverable balance, while also factoring in any third-party letters of credit that support the reinsurance agreement, in order to calculate our allowance for credit losses. The rollforward of the allowance for credit losses on reinsurance recoverables were as follows: Three months ended March 31, 2024 2023 (In thousands) Balance, beginning of period $ 1,120 $ 2,936 Current period provision for expected credit losses ( 72 ) 627 Balance, at the end of period $ 1,048 $ 3,563

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	(6) Deferred Policy Acquisition Costs The balances and activity in DAC were as follows: Three months ended Year ended March 31, 2024 December 31, 2023 (In thousands) Term Life Segregated Funds (Canada) Term Life Segregated Funds (Canada) DAC balance, beginning of period $ 3,366,281 $ 63,029 $ 3,106,148 $ 62,341 Capitalization 135,959 902 521,718 4,353 Amortization ( 70,491 ) ( 1,201 ) ( 268,803 ) ( 5,479 ) Foreign exchange translation and other ( 6,560 ) ( 1,651 ) 7,218 1,814 DAC balance, at the end of period $ 3,425,189 $ 61,079 $ 3,366,281 $ 63,029 Reconciliation of DAC by product was as follows: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 3,425,189 $ 3,366,281 Segregated Funds (Canada) 61,079 63,029 Other 17,672 17,924 Total DAC, net $ 3,503,940 $ 3,447,234 There were no changes to the judgments, assumptions and methods used to amortize DAC during the three months ended March 31, 2024 and 2023 .

Separate Accounts

Separate Accounts	3 Months Ended
	Mar. 31, 2024
Separate Accounts Disclosure [Abstract]
Separate Accounts	(7) Separate Accounts The following table represents the fair value of assets supporting separate accounts by major investment category: March 31, 2024 December 31, 2023 (In thousands) Fixed-income securities $ 802,655 $ 876,524 Equity securities 1,472,006 1,436,122 Cash and cash equivalents 73,053 87,530 Due to/from funds ( 12,824 ) ( 4,357 ) Other 21 23 Total separate account assets $ 2,334,911 $ 2,395,842 The following table represents the balances of and changes in separate account liabilities: Three months ended Year ended March 31, 2024 December 31, 2023 (In thousands) Separate account liabilities balance, beginning of period $ 2,395,842 $ 2,305,717 Premiums and deposits 55,773 186,631 Surrenders and withdrawals ( 126,228 ) ( 343,473 ) Investment performance 87,443 245,565 Management fees and other charges ( 15,115 ) ( 62,159 ) Foreign exchange translation ( 62,804 ) 63,561 Separate account liabilities balance, end of period $ 2,334,911 $ 2,395,842 Cash surrender value $ 2,300,124 $ 2,354,813 The cash surrender value represents the amount of the contract holders’ account balance distributable at the balance sheet date less the Company’s estimate of the deferred sales charges that would be assessed if the policyholders redeemed their contracts at the balance sheet date. This estimate requires the Company to make certain assumptions regarding the underlying account balances by contribution year and application of the contractually defined deferred sales charges that would be applicable to each contribution year.

Policy Claims and Other Benefit

Policy Claims and Other Benefits Payable	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Policy Claims and Other Benefits Payable	(8) Policy Claims and Other Benefits Payable Changes in policy claims and other benefits payable were as follows: Three months ended March 31, 2024 2023 (In thousands) Policy claims and other benefits payable, beginning of period $ 513,803 $ 538,250 Less reinsured policy claims and other benefits payable 534,674 542,613 Net balance, beginning of period ( 20,871 ) ( 4,363 ) Incurred related to current year 69,021 65,820 Incurred related to prior years (1) ( 3,967 ) ( 2,732 ) Total incurred 65,054 63,088 Claims paid related to current year, net of reinsured policy claims received ( 126,076 ) ( 141,557 ) Reinsured policy claims received related to prior years, net of claims paid 40,499 8,422 Total paid ( 85,577 ) ( 133,135 ) Foreign currency translation ( 250 ) 38 Net balance, end of period ( 41,644 ) ( 74,372 ) Add reinsured policy claims and other benefits payable 559,112 572,855 Balance, end of period $ 517,468 $ 498,483 (1) Includes the difference between our estimate of claims incurred but not yet reported as of period-end and the actual incurred claims reported after period-end. The liability for policy claims and other benefits payable on traditional life insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. We estimate claims incurred but not yet reported based on our historical claims activity, adjusted for any current trends and conditions, and reported lag time experience.

Future Policy Benefits

Future Policy Benefits	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Future Policy Benefits	(9) Future Policy Benefits The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB: Three months ended Year ended March 31, 2024 December 31, 2023 (Dollars in thousands) Present Value of Expected Net Premiums Term Life Insurance Balance at then current discount rate, beginning of period $ 13,977,353 $ 13,053,386 Balance at original discount rate, beginning of period 14,012,553 13,521,221 Effect of changes in cash flow assumptions - ( 5,364 ) Effect of actual variances from expected experience ( 68,167 ) ( 229,884 ) Adjusted balance, beginning of period 13,944,386 13,285,973 Issuances 495,614 1,836,290 Interest accrual at original discount rate 151,049 544,806 Net premiums collected ( 429,268 ) ( 1,682,924 ) Foreign currency translation ( 28,030 ) 28,408 Expected net premiums at original discount rate, end of period 14,133,751 14,012,553 Effect of changes in discount rate assumptions ( 295,046 ) ( 35,200 ) Expected net premiums at then current discount rate, end of period $ 13,838,705 $ 13,977,353 Present Value of Expected Future Policy Benefits Balance at then current discount rate, beginning of period $ 20,508,435 $ 19,143,253 Balance at original discount rate, beginning of period 20,391,694 19,706,818 Effect of changes in cash flow assumptions - ( 7,254 ) Effect of actual variances from expected experience ( 56,046 ) ( 225,539 ) Adjusted balance, beginning of period 20,335,648 19,474,025 Issuances 498,175 1,840,996 Interest accrual at original discount rate 228,641 856,727 Benefit payments ( 490,713 ) ( 1,823,542 ) Foreign currency translation ( 42,811 ) 43,488 Expected future policy benefits at original discount rate, end of period 20,528,940 20,391,694 Effect of changes in discount rate assumptions ( 346,242 ) 116,741 Expected future policy benefits at then current discount rate, end of period $ 20,182,698 $ 20,508,435 LFPB $ 6,343,993 $ 6,531,082 Less: reinsurance recoverables 2,905,537 3,001,074 Net LFPB, after reinsurance recoverables $ 3,438,456 $ 3,530,008 Weighted-average duration of net LFPB (in years) 7.9 7.9 During the three months ended March 31, 2024 and March 31, 2023, experience variances in persistency and mortality resulted in remeasurement losses of $ 0.1 million and $ 0.6 million, respectively. The impact of experience variances in persistency and mortality during each period was largely offset by reinsurance. There were no changes to the inputs, judgments, assumptions, and methods used in measuring the LFPB during the three months ended March 31, 2024 and March 31, 2023. Losses recognized as a result of capping the net premium ratio at 100 % were immaterial during the three months ended March 31, 2024 and 2023. The following table reconciles the LFPB to the unaudited condensed consolidated balance sheets: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 6,343,993 $ 6,531,082 Other 204,057 210,943 Total $ 6,548,050 $ 6,742,025 The following table reconciles the reinsurance recoverables to the unaudited condensed consolidated balance sheets: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 2,905,537 $ 3,001,074 Other 14,880 14,703 Total $ 2,920,417 $ 3,015,777 The amount of discounted (using the then current discount rate) and undiscounted expected gross premiums and expected future benefit payments were as follows: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance Undiscounted Discounted Undiscounted Discounted Expected future benefit payments $ 33,603,218 $ 20,182,699 $ 33,342,272 $ 20,508,435 Expected future gross premiums $ 38,929,359 $ 26,337,620 $ 38,701,869 $ 26,687,880 The amount of revenue and interest recognized in our unaudited condensed consolidated statements of income were as follows: Three months ended March 31, 2024 2023 (In thousands) Term Life Insurance Gross premiums $ 836,322 $ 812,880 Interest accretion (expense) $ ( 77,593 ) $ ( 76,684 ) The weighted-average discount rates were as follows: March 31, 2024 December 31, 2023 Term Life Insurance Original discount rate 4.88 % 4.93 % Current discount rate 5.22 % 4.91 % There were no changes to the methods used to determine the discount rates during the three months ended March 31, 2024 and the twelve months ended December 31, 2023 .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	(10) Stockholders’ Equity The following table shows changes in our outstanding common stock: Three months ended March 31, 2024 2023 (In thousands) Common stock, beginning of period $ 34,996 $ 36,824 Shares of common stock issued upon exercise of stock options - 43 Shares of common stock issued when sales restrictions on restricted stock units 110 129 Common stock retired ( 497 ) ( 589 ) Common stock, end of period $ 34,609 $ 36,407 The above table excludes RSUs and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of March 31, 2024, we had a total of 223,730 RSUs and 58,619 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs granted pursuant to the award agreements; however, the actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 12 (Share-Based Transactions) for discussion of the PSU award structure. On November 16, 2023, our Board of Directors authorized a share repurchase program for up to $ 425.0 million of our outstanding common stock for purchases from November 16, 2023 through December 31, 2024 (the “Share Repurchase Program”). Under the Share Repurchase Program, we repurchased 465,938 shares of our common stock in the open market for an aggregate purchase price of $ 109.1 million through March 31, 2024. Approximately $ 315.9 million remains available for repurchases of our outstanding common stock under the Share Repurchase Program as of March 31, 2024 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	(11) Earnings Per Share The Company has outstanding common stock and equity awards that consist of RSUs and PSUs. All previously remaining outstanding stock options were exercised during the year ended December 31, 2023. The RSUs maintain non-forfeitable dividend rights that result in dividend payment obligations on a one-to-one ratio with common shares for any future dividend declarations. Unvested RSUs are deemed participating securities for purposes of calculating earnings per share (“EPS”) as they maintain dividend rights. We calculate EPS using the two-class method. Under the two-class method, we allocate earnings to common shares and vested RSUs outstanding for the period. Earnings attributable to unvested participating securities, along with the corresponding share counts, are excluded from EPS as reflected in our unaudited condensed consolidated statements of income. In calculating basic EPS, we deduct from net income any dividends and undistributed earnings allocated to unvested RSUs and then divide the result by the weighted-average number of common shares and vested RSUs outstanding for the period. We determine the potential dilutive effect of PSUs and stock options outstanding (“contingently-issuable shares”) on EPS using the treasury-stock method. Under this method, we determine the proceeds that would be received from the issuance of the contingently-issuable shares if the end of the reporting period were the end of the contingency period. The proceeds from the contingently-issuable shares include the remaining unrecognized compensation expense of the awards and the cash received for the exercise price on stock options. We then use the average market price of our common shares during the period the contingently-issuable shares were outstanding to determine how many shares we could repurchase with the proceeds raised from the issuance of the contingently-issuable shares. The net incremental share count issued represents the potential dilutive securities. We then reallocate earnings to common shares and vested RSUs by incorporating the increased fully-diluted share count to determine diluted EPS. The calculation of basic and diluted EPS was as follows: Three months ended March 31, 2024 2023 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income $ 137,904 $ 128,099 Income attributable to unvested participating securities ( 572 ) ( 579 ) Net income used in calculating basic EPS $ 137,332 $ 127,520 Denominator: Weighted-average vested shares 34,883 36,710 Basic EPS $ 3.94 $ 3.47 Diluted EPS: Numerator: Net income $ 137,904 $ 128,099 Income attributable to unvested participating securities ( 572 ) ( 578 ) Net income used in calculating diluted EPS $ 137,332 $ 127,521 Denominator: Weighted-average vested shares 34,883 36,710 Dilutive effect of incremental shares to be issued for 54 94 Weighted-average shares used in calculating diluted EPS 34,937 36,804 Diluted EPS $ 3.93 $ 3.46

Share-Based Transactions

Share-Based Transactions	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Transactions	(12) Share-Based Transactions The Company has outstanding equity awards under the Primerica, Inc. 2020 Omnibus Incentive Plan (the “OIP”), which was approved by the Company’s stockholders on May 13, 2020. The OIP provides for the issuance of equity awards, including stock options, stock appreciation rights, restricted stock, deferred stock, RSUs, PSUs, and stock payment awards, as well as cash-based awards. In addition to time-based vesting requirements, awards granted under the OIP may also be subject to specified performance criteria. Under the OIP, the Company issues equity awards to our management (officers and other key employees), non-employees who serve on our Board of Directors, and sales force leaders. For more information on equity awards granted under the OIP, see Note 15 (Share-Based Transactions) to our consolidated financial statements within our 2023 Annual Report. In connection with our granting of equity awards to management and members of the Board of Directors, we recognize expense over the requisite service period of the equity award. We defer and amortize the fair value of equity awards granted to the sales force in the same manner as other deferred policy acquisition costs for those awards that are an incremental direct cost of successful acquisitions of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred. All equity awards granted to the sales force that are not directly related to the successful acquisition of life insurance policies are recognized as expense as incurred, which is in the quarter granted and earned. The impact of equity awards granted under the OIP are as follows: Three months ended March 31, 2024 2023 (In thousands) Equity awards expense recognized $ 12,614 $ 12,125 Equity awards expense deferred 2,199 2,523 On February 16, 2024, the Compensation Committee of our Board of Directors granted the following equity awards to employees as part of the annual approval of management incentive compensation: • 48,998 RSUs awarded to management with a measurement-date fair value of $ 244.89 per unit that have time-based vesting requirements with equal and annual graded vesting over approximately three years subsequent to the grant date. • 15,005 PSUs awarded to our five top executives as of that date with a measurement-date fair value of $ 244.89 per unit. The PSUs will be earned on March 1, 2027 contingent upon the Company achieving a targeted annual average three-year return on adjusted equity (“ROAE”) and average EPS growth for the period from January 1, 2024 through December 31, 2026. The actual number of common shares that will be earned will vary based on the actual ROAE and average EPS growth relative to the targeted ROAE and average EPS growth and can range from zero to 22,507 shares. All awards granted to employees on February 16, 2024 vest upon voluntary termination of employment by any employee who is “retirement eligible” as of his or her termination date. In order to be retirement eligible, an employee must be at least 55 years old and his or her age plus years of service with the Company must equal at least 75. The number of PSUs that will ultimately be earned for a retirement eligible employee is equal to the amount calculated using the Company’s actual cumulative three-year ROAE and average EPS growth for the performance period even if that employee retires prior to the completion of such relevant three-year performance period.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	(13) Commitments and Contingent Liabilities The Company is involved from time-to-time in legal disputes, regulatory inquiries and arbitration proceedings in the normal course of business. These disputes are subject to uncertainties, including the large and/or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation. As such, the Company is unable to estimate the possible loss or range of loss that may result from these matters .

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Other Comprehensive Income	(14) Other Comprehensive Income The components of other comprehensive income (“OCI”), including the income tax expense or benefit allocated to each component, were as follows: Three months ended March 31, 2024 2023 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) $ ( 9,456 ) $ 1,020 Income tax expense (benefit) on unrealized foreign currency - - Change in unrealized foreign currency translation gains $ ( 9,456 ) $ 1,020 Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period $ ( 14,843 ) $ 38,549 Income tax expense (benefit) on unrealized holding gains ( 3,320 ) 8,316 Change in unrealized holding gains (losses) on available-for-sale ( 11,523 ) 30,233 Reclassification from accumulated OCI to net income for (gains) ( 7 ) 3,137 Income tax (expense) benefit on (gains) losses reclassified ( 1 ) 659 Reclassification from accumulated OCI to net income for (gains) ( 6 ) 2,478 Change in unrealized gains (losses) on available-for-sale $ ( 11,529 ) $ 32,711 Effect of change in discount rate assumptions on the LFPB: Change in effect in discount rate assumptions on the LFPB before income taxes $ 168,086 $ ( 181,281 ) Income tax (expense) benefit on the effect of change in discount rate assumptions on the LFPB from accumulated OCI to net income 36,147 ( 38,899 ) Change in effect in discount rate assumptions on the LFPB, net of income taxes $ 131,939 $ ( 142,382 )

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	(15) Debt Notes Payable. As of March 31, 2024, the Company had outstanding $ 600.0 million of publicly-traded, senior unsecured notes (the “Senior Notes”), with an annual interest rate of 2.80 % that are scheduled to mature on November 19, 2031 . As of March 31, 2024, we were in compliance with the covenants of the Senior Notes. No events of default occurred on the Senior Notes during the three months ended March 31, 2024. Further discussion on the Company’s Senior Notes is included in Note 11 (Debt) to our consolidated financial statements within our 2023 Annual Report. Surplus Note. As of March 31, 2024, the principal amount outstanding on the Surplus Note issued by Vidalia Re was $ 1.4 billion, which is equal to the principal amount of the LLC Note. The principal amounts of the Surplus Note and the LLC Note have reached their peaks and are expected to decrease over time to coincide with the amount of policy reserves being contractually supported under the Vidalia Re Coinsurance Agreement. Both the LLC Note and the Surplus Note mature on December 31, 2030 and bear interest at an annual interest rate of 4.50 % . This financing arrangement is non-recourse to the Parent Company and Primerica Life, meaning that neither of these companies has guaranteed the Surplus Note or is otherwise liable for reimbursement for any payments triggered by the LLC Note’s credit enhancement feature. The Parent Company has agreed to support Vidalia Re’s obligation to pay the credit enhancement fee incurred on the LLC Note. Further discussion on the Company’s LLC Note is included in Note 3 (Investments). Revolving Credit Facility. We maintain an unsecured $ 200.0 million revolving credit facility (“Revolving Credit Facility”) with a syndicate of commercial banks. The Revolving Credit Facility has a scheduled termination date of June 22, 2026 . Amounts outstanding under the Revolving Credit Facility are borrowed, at our discretion, on the basis of either a Secured Overnight Financing Rate (“SOFR”) rate loan, or a base rate loan. SOFR rate loans bear interest at a periodic rate equal to one-, three-, or six-month Adjusted Term SOFR, plus an applicable margin. Base rate loans bear interest at the highest of (a) the Prime Rate, (b) the Federal Funds Rate plus 0.50% and (c) one-month Adjusted Term SOFR plus 1.00%, plus an applicable margin. The Revolving Credit Facility also permits the issuance of letters of credit. The applicable margins are based on our debt rating with such margins for SOFR rate loans and letters of credit ranging from 1.000 % to 1.625 % per annum and for base rate loans ranging from 0.000 % to 0.625 % per annum. Under the Revolving Credit Facility, we incur a commitment fee that is payable quarterly in arrears and is determined by our debt rating. This commitment fee ranges from 0.100 % to 0.225 % per annum of the aggregate amount of the $ 200.0 million commitment of the lenders under the Revolving Credit Facility that remains undrawn. During the three months ended March 31, 2024 , no amounts were outstanding under the Revolving Credit Facility and we were in compliance with its covenants. Furthermore, no events of default occurred under the Revolving Credit Facility during the three months ended March 31, 2024 .

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customers	(16) Revenue from Contracts with Customers Our revenues from contracts with customers primarily include: • Commissions and fees earned for the marketing and distribution of investment and savings products underwritten by mutual fund companies and annuity providers. For purposes of revenue recognition, mutual fund companies and annuity providers are considered the customers in marketing and distribution arrangements; • Fees earned for investment advisory and administrative services within our managed investments program and shareholder service fees earned in Canada for mutual funds for which we serve as principal distributor; • Account-based fees for transfer agent recordkeeping functions and non-bank custodial services; • Commissions and fees earned from the distribution of Medicare-related insurance products on behalf of health insurance carriers, including tail revenue adjustments; • Other Senior Health segment revenues earned for providing certain marketing services and health risk assessment services, which are recorded in Other, net revenue; • Fees associated with mortgage distribution and the distribution of other third-party financial products; and • Other revenue from the sale of miscellaneous products and services including monthly subscription fees from the sales representatives for access to Primerica Online, our primary sales force support tool. Premiums from insurance contracts we underwrite, fees received from segregated funds insurance contracts, and income earned on our invested assets are excluded from the definition of revenues from contracts with customers in accordance with U.S. GAAP. Further discussion on the Company’s revenues from contracts with customers and revenue recognition policies are included in Note 19 (Revenue from Contracts with Customers) to our consolidated financial statements within our 2023 Annual Report. The disaggregation of our revenues from contracts with customers were as follows: Three months ended March 31, 2024 2023 (In thousands) Term Life Insurance segment revenues: Other, net $ 12,649 $ 12,233 Total segment revenues from contracts with customers 12,649 12,233 Revenues from sources other than contracts with customers 427,763 408,836 Total Term Life Insurance segment revenues $ 440,412 $ 421,069 Investment and Savings Products segment revenues: Commissions and fees Sales-based revenues $ 88,746 $ 72,388 Asset-based revenues 114,699 98,104 Account-based revenues 23,180 22,790 Other, net 3,258 3,120 Total segment revenues from contracts with customers 229,883 196,402 Revenues from sources other than contracts 13,833 13,800 Total Investment and Savings Products segment revenues $ 243,716 $ 210,202 Senior Health segment revenues: Commissions and fees $ 6,077 $ 15,755 Other, net 803 2,955 Total Senior Health segment revenues $ 6,880 $ 18,710 Corporate and Other Distributed Products segment revenues: Commissions and fees $ 8,486 $ 8,710 Other, net 705 1,199 Total segment revenues from contracts with customers 9,191 9,909 Revenues from sources other than contracts with customers 42,631 30,146 Total Corporate and Other Distributed Products segment revenues $ 51,822 $ 40,055 Renewal Commissions Receivable. For revenue associated with ongoing renewal commissions in the Senior Health and Corporate and Other Distributed Products segments, we record a renewal commission receivable asset for the amount of ongoing renewal commissions we anticipate collecting in reporting periods subsequent to the satisfaction of the performance obligation, less amounts that are constrained in the accompanying unaudited condensed consolidated balance sheets. We update our estimate of variable consideration each period as new facts or circumstances that were not available at the time of the initial estimate will indicate that the expected renewal commissions are higher or lower than our renewal commissions receivable. As such, the expected renewal commissions receivable will be written down or up to its revised expected value by adjustments to revenue, which we refer to as tail revenue adjustments. Activity in the Renewal commissions receivable account was as follows: Three months ended March 31, 2024 2023 (In thousands) Senior Health segment: Balance, beginning of period $ 128,886 $ 139,399 Commissions revenue 6,324 9,062 Less: collections ( 11,436 ) ( 14,262 ) Tail revenue adjustment from change in estimate ( 7,841 ) - Balance, at the end of period $ 115,933 $ 134,199 Corporate and Other Distributed Products segment: Balance, beginning of period $ 61,372 $ 60,644 Commissions revenue 5,039 5,370 Less: collections ( 6,046 ) ( 5,804 ) Balance, at the end of period $ 60,365 $ 60,210 Incremental costs to obtain or fulfill contracts, most notably sales commissions to the sales representatives, are not incurred prior to the recognition of the related revenue. Therefore, we have no assets recognized for incremental costs to obtain or fulfill contracts.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	(17) Subsequent Event In April 2024, the Company executed agreements providing for the payment of certain claims filed by the Company under a Representation and Warranty insurance policy negotiated and purchased in connection with the acquisition of e-TeleQuote on July 1, 2021 . The claims made by the Company involved breaches of certain representations and warranties relating to the pre-acquisition financial statements made by the sellers of e-TeleQuote in connection with the acquisition. The Company will recognize a gain in earnings during the three months ended June 30, 2024 of $ 50.0 million, which is equal to the aggregate proceeds to be received from the third party insurers under the policy, reflecting the full coverage under the policy.

Description of Business, Basi_2

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation . We prepare our financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”). The accompanying unaudited condensed consolidated financial statements contain all adjustments, generally consisting of normal recurring accruals, which are necessary to fairly present the balance sheets as of March 31, 2024 and December 31, 2023, the statements of income, comprehensive income, and stockholders’ equity for the three months ended March 31, 2024 and 2023, and cash flows for the three months ended March 31, 2024 and 2023. Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods. These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Annual Report”).
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect financial statement balances, revenues and expenses and cash flows, as well as the disclosure of contingent assets and liabilities. Management considers available facts and knowledge of existing circumstances when establishing the estimates included in our financial statements. The most significant items that involve a greater degree of accounting estimates and actuarial determinations subject to change in the future are the valuation of investments, deferred policy acquisition costs (“DAC”), liability for future policy benefits (“LFPB”) and corresponding amounts recoverable from reinsurers, renewal commissions receivable, income taxes, and valuation of intangible assets and goodwill. Estimates for these and other items are subject to change and are reassessed by management in accordance with U.S. GAAP. Actual results could differ from those estimates.
Consolidation	Consolidation. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and those entities required to be consolidated under U.S. GAAP. All material intercompany profits, transactions, and balances among the consolidated entities have been eliminated.
Changes to Accounting Principles	Changes to Accounting Policies . All significant accounting policies remain unchanged from the 2023 Annual Report unless otherwise described. Reclassifications. Certain reclassifications have been made to prior period amounts to conform to current period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity. Correction of Immaterial Errors on Previously Issued Financial Statements. As previously disclosed in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, the Company identified immaterial errors in amounts presented in the unaudited condensed consolidated financial statements included in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (“Previously-reported Financial Statements”) related to the measurement of reinsurance recoverables and DAC in conjunction with the adoption of Accounting Standard Update No. 2018-12 , Financial Services—Insurance (Topic 944)—Targeted Improvements to the Accounting for Long-Duration Contracts (“LDTI”). The resulting impact to our unaudited condensed consolidated statement of income for the three months ended March 31, 2023 was an overstatement of benefits and claims, an understatement of future policy benefits remeasurement loss and an understatement of DAC amortization along with the related income tax impact that netted to cause an understatement of net income. In accordance with FASB ASC 250, Accounting Changes and Error Corrections , the Company evaluated the materiality of these errors quantitatively and qualitatively and concluded that these prior period errors were immaterial to the Previously-reported Financial Statements. As such, the Company revised the prior period financial information included in the accompanying unaudited condensed consolidated financial statements for the quarter ended March 31, 2023, initially presented in the Previously-reported Financial Statements, to correct these errors. The revisions resulted in an increase to net income of $ 3.0 million, or 2.4 % , and increases to each of basic and diluted earnings per share of $ 0.08 , or 2.4 % in the accompanying unaudited condensed consolidated statement of income for the three months ended March 31, 2023 compared with the Previously-reported Financial Statements. Prior period information included in the notes herein to the accompanying unaudited condensed consolidated financial statements have also been revised as needed. These errors were specifically related to the Company’s accounting estimates under LDTI and no financial statements prior to the adoption of LDTI were affected. Management detected and corrected these errors during the second quarter of 2023 as previously disclosed, and the errors do not affect financial information subsequent to the date of the Previously-reported Financial Statements. New Accounting Standards Not Yet Adopted. Accounting standard Adoption date Description Effects on the financial statements Segment Reporting (Topic 280)— Improvements to Reportable Segment Disclosures ASU 2023-07 Annual periods beginning after December 15, 2023 and interim periods thereafter. Early adoption is permitted. Retrospective transition for all periods presented. In November 2023, the FASB issued the ASU to enhance segment disclosures. The amendments (1) require disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; (2) require disclosure of “other segment items” by reportable segment, which is the difference between segment revenue and significant segment expenses; (3) require annual segment disclosures to be included in interim financial statements; (4) clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, an entity may report one or more of those additional measures; and (5) require disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. We do not believe the adoption of the standard will have a material impact on our consolidated financial statements. We will revise disclosures in accordance with the new standard in our annual 2024 financial statements and for interim periods thereafter. Income Taxes (Topic 740)—Improvements to Income Tax Disclosures ASU 2023-09 Annual periods beginning after December 15, 2024. Early adoption is permitted. Prospective transition, although retrospective transition is permitted. In December 2023, the FASB issued the ASU to increase income tax transparency through improvements primarily related to the existing rate reconciliation and income taxes paid disclosures. The amendments require (1) consistent categories and greater disaggregation of information in the rate reconciliation; and (2) income taxes paid disaggregated by jurisdiction. The ASU also removes certain disclosure requirements, such as reasonably possible significant changes in the total amount of unrecognized tax benefits within 12 months of the reporting date. We do not believe the adoption of the standard will have a material impact on our consolidated financial statements. We will revise disclosures in accordance with the new standard in our annual 2025 financial statements. In addition, in March 2024, the SEC issued final rules that include updates to Regulation S-X for climate-related disclosures (the “Climate-Related Disclosures rule”). The Climate-Related Disclosures rule is currently stayed pending the completion of judicial review. The Climate-Related Disclosures rule requires a registrant to disclose in the notes to the financial statements (1) expenditures and losses, and capitalized costs and charges in each case excluding recoveries, incurred or recognized during a fiscal year as a result of severe weather events and other natural conditions; and (2) where material to a company's plan to achieve disclosed climate-related targets or goals, information regarding carbon offsets and renewable energy credits. The adoption of the Climate-Related Disclosures rule will impact our disclosures and may require changes to certain of our processes, systems, and controls. We are currently evaluating existing processes and data to determine what changes may be necessary. If the stay is lifted, the updates to Regulation S-X included in the Climate-Related Disclosures rule would be effective for the Company’s Form 10-K for the fiscal year ending December 31, 2025. Recently issued accounting guidance not discussed above is not applicable, is immaterial to our consolidated financial statements, or did not or is not expected to have a material impact on our business.

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Assets and Profit or Loss by Segment	Notable information included in profit or loss by segment was as follows: Three months ended March 31, 2024 2023 (In thousands) Revenues: Term life insurance segment $ 440,412 $ 421,069 Investment and savings products segment 243,716 210,202 Senior health segment 6,880 18,710 Corporate and other distributed products segment 51,822 40,055 Total revenues $ 742,830 $ 690,036 Net investment income: Term life insurance segment $ - $ - Investment and savings products segment - - Senior health segment - - Corporate and other distributed products segment 37,806 31,065 Total net investment income $ 37,806 $ 31,065 Amortization of DAC: Term life insurance segment $ 70,491 $ 66,068 Investment and savings products segment 1,201 1,493 Senior health segment - - Corporate and other distributed products segment 357 362 Total amortization of DAC $ 72,049 $ 67,923 Non-cash share-based compensation expense: Term life insurance segment $ 2,142 $ 1,850 Investment and savings products segment 1,039 993 Senior health segment 99 160 Corporate and other distributed products segment 9,334 9,071 Total non-cash share-based compensation expense $ 12,614 $ 12,074 Income (loss) before income taxes: Term life insurance segment $ 138,367 $ 130,541 Investment and savings products segment 65,562 56,106 Senior health segment ( 14,153 ) ( 3,762 ) Corporate and other distributed products segment ( 10,540 ) ( 15,943 ) Total income (loss) before income taxes $ 179,236 $ 166,942
Total Assets by Segment	Total assets by segment were as follows: March 31, 2024 December 31, 2023 (In thousands) Assets: Term life insurance segment $ 6,514,070 $ 6,543,923 Investment and savings products segment (1) 2,484,768 2,537,079 Senior health segment 404,888 419,110 Corporate and other distributed products segment 5,505,628 5,527,620 Total assets $ 14,909,354 $ 15,027,732 (1) The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $ 149.9 million and $ 141.3 million as of March 31, 2024 and December 31, 2023 , respectively.
Long Lived Assets and Continuing Operations by Country	Geographical Information. Results of operations by country and long-lived assets – primarily tangible assets reported in other assets in our unaudited condensed consolidated balance sheets – were as follows: Three months ended March 31, 2024 2023 (In thousands) Revenues by country: United States $ 647,342 $ 603,850 Canada 95,488 86,186 Total revenues $ 742,830 $ 690,036 March 31, 2024 December 31, 2023 (In thousands) Long-lived assets by country: United States $ 38,575 $ 35,434 Canada 2,490 2,636 Other 188 197 Total long-lived assets $ 41,253 $ 38,267

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of AFS Securities Reconciliation	The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale (“AFS”) securities were as follows: March 31, 2024 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 10,378 $ 11 $ ( 514 ) $ 9,875 Foreign government 168,671 656 ( 10,507 ) 158,820 States and political subdivisions 144,543 575 ( 14,894 ) 130,224 Corporates 1,778,147 10,844 ( 126,858 ) 1,662,133 Residential mortgage-backed securities 513,935 1,089 ( 68,039 ) 446,985 Commercial mortgage-backed securities 123,895 120 ( 12,911 ) 111,104 Other asset-backed securities 273,166 1,039 ( 11,206 ) 262,999 Total fixed-maturity securities 3,012,735 14,334 ( 244,929 ) 2,782,140 Short-term investments 271 - - 271 Total fixed-maturity and short-term investments $ 3,013,006 $ 14,334 $ ( 244,929 ) $ 2,782,411 December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 9,974 $ 18 $ ( 476 ) $ 9,516 Foreign government 170,354 1,616 ( 8,588 ) 163,382 States and political subdivisions 145,779 891 ( 14,681 ) 131,989 Corporates 1,723,023 14,787 ( 120,286 ) 1,617,524 Residential mortgage-backed securities 499,771 1,688 ( 63,928 ) 437,531 Commercial mortgage-backed securities 127,454 156 ( 15,443 ) 112,167 Other asset-backed securities 258,857 763 ( 12,262 ) 247,358 Total fixed-maturity securities 2,935,212 19,919 ( 235,664 ) 2,719,467 Short-term investments 276 - - 276 Total fixed-maturity and short-term investments $ 2,935,488 $ 19,919 $ ( 235,664 ) $ 2,719,743
Fixed-maturity Securities Classified by Contractual Maturity Securities Date	The scheduled maturity distribution of the AFS fixed-maturity securities portfolio as of March 31, 2024 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 220,907 $ 218,962 Due after one year through five years 731,699 702,785 Due after five years through 10 years 794,837 718,088 Due after 10 years 354,296 321,217 2,101,739 1,961,052 Mortgage- and asset-backed securities 910,996 821,088 Total AFS fixed-maturity securities $ 3,012,735 $ 2,782,140
Costs and Fair Values of Fixed-Maturity Securities Classified as Trading Securities	The costs and fair values of the fixed-maturity securities classified as trading securities were as follows: March 31, 2024 December 31, 2023 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 3,800 $ 3,253 $ 18,761 $ 18,383
Net Investment Income	Net Investment Income. The components of net investment income were as follows: Three months ended March 31, 2024 2023 (In thousands) Fixed-maturity securities (available-for-sale) $ 29,936 $ 25,806 Fixed-maturity security (held-to-maturity) 15,785 16,435 Equity securities 390 380 Policy loans and other invested assets 461 ( 71 ) Cash, cash equivalents and short-term investments 6,982 5,128 Total return on deposit asset underlying 10% coinsurance agreement (1) 2,174 2,049 Gross investment income 55,728 49,727 Investment expenses ( 2,137 ) ( 2,227 ) Investment income net of investment expenses 53,591 47,500 Interest expense on surplus note ( 15,785 ) ( 16,435 ) Net investment income $ 37,806 $ 31,065 (1) I ncludes $( 0.1 ) million and $( 0.3 ) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10 % coinsurance agreement for the three months ended March 31, 2024 and 2023 , respectively.
Schedule of Components of Investment Gains (Losses)	The components of investment gains (losses), as well as details on gross realized investment gains (losses) and other investment gains (losses) were as follows: Three months ended March 31, 2024 2023 (In thousands) Realized investment gains (losses): Gross gains from sales of available-for-sale fixed-maturity securities $ 7 $ 49 Gross losses from sales of available-for-sale fixed-maturity securities - ( 1,034 ) Net realized investment gains (losses): 7 ( 985 ) Other investment gains (losses): Credit losses impairment of available-for-sale securities - ( 2,160 ) Market gains (losses) recognized in net income during the period on equity securities 1,296 ( 1,475 ) Gains (losses) from equity method investments - - Gains (losses) from bifurcated options ( 5 ) 8 Gains (losses) on trading securities 7 4 Other investment gains (losses): 1,298 ( 3,623 ) Investment gains (losses) $ 1,305 $ ( 4,608 )
Schedule of Proceeds from Sales or Other Redemptions of Available-for-Sale Securities	The proceeds from sales or other redemptions of AFS securities were as follows: Three months ended March 31, 2024 2023 (In thousands) Proceeds from sales or other redemptions $ 86,418 $ 85,430
Schedule of Securities in Unrealized Loss Position	The following tables summarize all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2024, aggregated by major security type and by length of time such securities have continuously been in an unrealized loss position: March 31, 2024 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (In thousands) Fixed-maturity securities: U.S. government and agencies $ 1,880 $ ( 24 ) $ 7,674 $ ( 490 ) Foreign government 37,766 ( 644 ) 101,380 ( 9,863 ) States and political subdivisions 7,956 ( 98 ) 106,771 ( 14,796 ) Corporates 133,934 ( 1,582 ) 1,196,896 ( 125,276 ) Residential mortgage-backed securities 32,912 ( 446 ) 350,716 ( 67,593 ) Commercial mortgage-backed securities 2,010 ( 8 ) 98,186 ( 12,903 ) Other asset-backed securities 45,700 ( 208 ) 130,782 ( 10,998 ) Total fixed-maturity securities $ 262,158 $ ( 3,010 ) $ 1,992,405 $ ( 241,919 ) December 31, 2023 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (In thousands) Fixed-maturity securities: U.S. government and agencies $ - $ - $ 9,188 $ ( 476 ) Foreign government 17,209 ( 62 ) 104,827 ( 8,526 ) States and political subdivisions 4,883 ( 46 ) 107,021 ( 14,635 ) Corporates 39,783 ( 907 ) 1,231,694 ( 119,379 ) Residential mortgage-backed securities 14,872 ( 142 ) 360,987 ( 63,786 ) Commercial mortgage-backed securities 4,721 ( 107 ) 97,417 ( 15,336 ) Other asset-backed securities 41,417 ( 159 ) 136,841 ( 12,103 ) Total fixed-maturity securities $ 122,885 $ ( 1,423 ) $ 2,047,975 $ ( 234,241 )

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The estimated fair value and hierarchy classifications for assets and liabilities that are measured at fair value on a recurring basis were as follows: March 31, 2024 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 9,875 $ - $ 9,875 Foreign government - 158,820 - 158,820 States and political subdivisions - 130,224 - 130,224 Corporates 3,946 1,658,187 - 1,662,133 Mortgage- and asset-backed securities: Residential mortgage-backed securities - 446,985 - 446,985 Commercial mortgage-backed securities - 111,104 - 111,104 Other asset-backed securities - 262,999 - 262,999 Total available-for-sale fixed-maturity securities 3,946 2,778,194 - 2,782,140 Short-term investments - 271 - 271 Total available-for-sale securities 3,946 2,778,465 - 2,782,411 Equity securities 24,038 978 1,631 26,647 Trading securities - 3,253 - 3,253 Cash and cash equivalents 593,399 - - 593,399 Separate accounts - 2,334,911 - 2,334,911 Total fair value assets $ 621,383 $ 5,117,607 $ 1,631 $ 5,740,621 Fair value liabilities: Separate accounts $ - $ 2,334,911 $ - $ 2,334,911 Total fair value liabilities $ - $ 2,334,911 $ - $ 2,334,911 December 31, 2023 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 9,516 $ - $ 9,516 Foreign government - 163,382 - 163,382 States and political subdivisions - 131,989 - 131,989 Corporates 3,951 1,613,573 - 1,617,524 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 437,531 - 437,531 Commercial mortgage-backed securities - 112,167 - 112,167 Other asset-backed securities - 246,858 500 247,358 Total available-for-sale fixed-maturity securities 3,951 2,715,016 500 2,719,467 Short-term investments - 276 - 276 Total available-for-sale securities 3,951 2,715,292 500 2,719,743 Equity securities 27,062 974 1,644 29,680 Trading securities - 18,383 - 18,383 Cash and cash equivalents 613,148 - - 613,148 Separate accounts - 2,395,842 - 2,395,842 Total fair value assets $ 644,161 $ 5,130,491 $ 2,144 $ 5,776,796 Fair value liabilities: Separate accounts $ - $ 2,395,842 $ - $ 2,395,842 Total fair value liabilities $ - $ 2,395,842 $ - $ 2,395,842
Roll forward of Level 3 Assets Measured on Recurring Basis	The roll-forward of the Level 3 assets measured at fair value on a recurring basis was as follows: Three months ended March 31, 2024 2023 (In thousands) Level 3 assets, beginning of period $ 2,144 $ 1,710 Net unrealized gains (losses) included in other comprehensive income 4 - Realized gains (losses) and accretion (amortization) recognized in earnings ( 13 ) ( 17 ) Purchases - 2,316 Sales - - Settlements - - Transfers into Level 3 - - Transfers out of Level 3 ( 504 ) - Level 3 assets, end of period $ 1,631 $ 4,009
Carrying Values and Estimated Fair Values of Financial Instruments	The carrying values and estimated fair values of our financial instruments were as follows: March 31, 2024 December 31, 2023 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,782,140 $ 2,782,140 $ 2,719,467 $ 2,719,467 Fixed-maturity security (held-to-maturity) (1) 1,376,400 1,299,228 1,386,980 1,334,892 Short-term investments (available-for-sale) 271 271 276 276 Equity securities 26,647 26,647 29,680 29,680 Trading securities 3,253 3,253 18,383 18,383 Policy loans (1) 39,052 39,052 38,975 38,975 Deposit asset underlying 10 % coinsurance agreement (1) 182,684 182,684 187,377 187,377 Separate accounts 2,334,911 2,334,911 2,395,842 2,395,842 Liabilities: Note payable (2) (3) $ 593,909 $ 498,401 $ 593,709 $ 508,832 Surplus note (1) (2) 1,376,028 1,296,276 1,386,592 1,329,159 Separate accounts 2,334,911 2,334,911 2,395,842 2,395,842 (1) Classified as a Level 3 fair value measurement. (2) Carrying value amounts shown are net of unamortized issuance costs. (3) Classified as a Level 2 fair value measurement.

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2024
Reinsurance Disclosures [Abstract]
In-force Life Insurance	Details on in-force life insurance were as follows: March 31, 2024 December 31, 2023 (Dollars in thousands) Direct life insurance in-force $ 949,216,091 $ 946,756,416 Amounts ceded to other companies ( 811,072,619 ) ( 810,145,801 ) Net life insurance in-force $ 138,143,472 $ 136,610,615 Percentage of reinsured life insurance in-force 85 % 86 %
Reinsurance Recoverable Estimated by Reinsurer and Financial Strength Ratings of Reinsurer	Reinsurance recoverables include ceded policy benefit reserve balances, ceded claim liabilities, and ceded claims paid that have not been reimbursed. The Company allocated reinsurance recoverables estimated at the cohort level to individual reinsurers for disclosure purposes. Reinsurance recoverables estimated by reinsurer and the financial strength ratings of those reinsurers were as follows: March 31, 2024 December 31, 2023 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Swiss Re Life and Health America, Inc. (Novated from Pecan Re Inc.) (1) $ 2,215,368 A+ $ 2,271,223 A+ Munich Re of Malta (1) (2) 229,847 NR 243,890 NR SCOR Global Life Reinsurance Companies (3) 147,608 A 160,381 A American Health and Life Insurance Company (1) 136,886 B++ 141,771 B++ Munich American Reassurance Company 46,557 A+ 50,273 A+ Swiss Re Life & Health America Inc. (4) 44,090 A+ 43,873 A+ RGA Reinsurance Company 43,201 A+ 43,188 A+ Korean Reinsurance Company 40,133 A 41,373 A All other reinsurers 17,775 - 20,925 - Allowance for credit losses ( 1,048 ) ( 1,120 ) Reinsurance recoverables $ 2,920,417 $ 3,015,777 NR – not rated by A.M. Best (1) Reinsurance recoverables include balances ceded under coinsurance transactions of term life insurance policies that were in-force as of December 31, 2009. Amounts shown are net of their share of the reinsurance recoverable from other reinsurers. Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables. (2) Entity is rated AA- by S&P. (3) Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies. (4) Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.
Allowance for Credit Loss on Reinsurance Recoverable	The rollforward of the allowance for credit losses on reinsurance recoverables were as follows: Three months ended March 31, 2024 2023 (In thousands) Balance, beginning of period $ 1,120 $ 2,936 Current period provision for expected credit losses ( 72 ) 627 Balance, at the end of period $ 1,048 $ 3,563

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]
Balances and Activity in DAC Roll Forward	The balances and activity in DAC were as follows: Three months ended Year ended March 31, 2024 December 31, 2023 (In thousands) Term Life Segregated Funds (Canada) Term Life Segregated Funds (Canada) DAC balance, beginning of period $ 3,366,281 $ 63,029 $ 3,106,148 $ 62,341 Capitalization 135,959 902 521,718 4,353 Amortization ( 70,491 ) ( 1,201 ) ( 268,803 ) ( 5,479 ) Foreign exchange translation and other ( 6,560 ) ( 1,651 ) 7,218 1,814 DAC balance, at the end of period $ 3,425,189 $ 61,079 $ 3,366,281 $ 63,029
Reconciliation of DAC	Reconciliation of DAC by product was as follows: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 3,425,189 $ 3,366,281 Segregated Funds (Canada) 61,079 63,029 Other 17,672 17,924 Total DAC, net $ 3,503,940 $ 3,447,234

Separate Accounts (Tables)

Separate Accounts (Tables)	3 Months Ended
	Mar. 31, 2024
Separate Accounts Disclosure [Abstract]
Schedule of Fair Value of Separate Accounts by Major Category of Investment	The following table represents the fair value of assets supporting separate accounts by major investment category: March 31, 2024 December 31, 2023 (In thousands) Fixed-income securities $ 802,655 $ 876,524 Equity securities 1,472,006 1,436,122 Cash and cash equivalents 73,053 87,530 Due to/from funds ( 12,824 ) ( 4,357 ) Other 21 23 Total separate account assets $ 2,334,911 $ 2,395,842
Schedule of Balances and Changes in Seperate Account Liabilities	The following table represents the balances of and changes in separate account liabilities: Three months ended Year ended March 31, 2024 December 31, 2023 (In thousands) Separate account liabilities balance, beginning of period $ 2,395,842 $ 2,305,717 Premiums and deposits 55,773 186,631 Surrenders and withdrawals ( 126,228 ) ( 343,473 ) Investment performance 87,443 245,565 Management fees and other charges ( 15,115 ) ( 62,159 ) Foreign exchange translation ( 62,804 ) 63,561 Separate account liabilities balance, end of period $ 2,334,911 $ 2,395,842 Cash surrender value $ 2,300,124 $ 2,354,813

Policy Claims and Other Benef_2

Policy Claims and Other Benefits Payable (Tables)	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Schedule of Liability For Future Policy Benefits and Unpaid Claims	Changes in policy claims and other benefits payable were as follows: Three months ended March 31, 2024 2023 (In thousands) Policy claims and other benefits payable, beginning of period $ 513,803 $ 538,250 Less reinsured policy claims and other benefits payable 534,674 542,613 Net balance, beginning of period ( 20,871 ) ( 4,363 ) Incurred related to current year 69,021 65,820 Incurred related to prior years (1) ( 3,967 ) ( 2,732 ) Total incurred 65,054 63,088 Claims paid related to current year, net of reinsured policy claims received ( 126,076 ) ( 141,557 ) Reinsured policy claims received related to prior years, net of claims paid 40,499 8,422 Total paid ( 85,577 ) ( 133,135 ) Foreign currency translation ( 250 ) 38 Net balance, end of period ( 41,644 ) ( 74,372 ) Add reinsured policy claims and other benefits payable 559,112 572,855 Balance, end of period $ 517,468 $ 498,483 (1) Includes the difference between our estimate of claims incurred but not yet reported as of period-end and the actual incurred claims reported after period-end.

Future Policy Benefits (Tables)

Future Policy Benefits (Tables)	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB	The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB: Three months ended Year ended March 31, 2024 December 31, 2023 (Dollars in thousands) Present Value of Expected Net Premiums Term Life Insurance Balance at then current discount rate, beginning of period $ 13,977,353 $ 13,053,386 Balance at original discount rate, beginning of period 14,012,553 13,521,221 Effect of changes in cash flow assumptions - ( 5,364 ) Effect of actual variances from expected experience ( 68,167 ) ( 229,884 ) Adjusted balance, beginning of period 13,944,386 13,285,973 Issuances 495,614 1,836,290 Interest accrual at original discount rate 151,049 544,806 Net premiums collected ( 429,268 ) ( 1,682,924 ) Foreign currency translation ( 28,030 ) 28,408 Expected net premiums at original discount rate, end of period 14,133,751 14,012,553 Effect of changes in discount rate assumptions ( 295,046 ) ( 35,200 ) Expected net premiums at then current discount rate, end of period $ 13,838,705 $ 13,977,353 Present Value of Expected Future Policy Benefits Balance at then current discount rate, beginning of period $ 20,508,435 $ 19,143,253 Balance at original discount rate, beginning of period 20,391,694 19,706,818 Effect of changes in cash flow assumptions - ( 7,254 ) Effect of actual variances from expected experience ( 56,046 ) ( 225,539 ) Adjusted balance, beginning of period 20,335,648 19,474,025 Issuances 498,175 1,840,996 Interest accrual at original discount rate 228,641 856,727 Benefit payments ( 490,713 ) ( 1,823,542 ) Foreign currency translation ( 42,811 ) 43,488 Expected future policy benefits at original discount rate, end of period 20,528,940 20,391,694 Effect of changes in discount rate assumptions ( 346,242 ) 116,741 Expected future policy benefits at then current discount rate, end of period $ 20,182,698 $ 20,508,435 LFPB $ 6,343,993 $ 6,531,082 Less: reinsurance recoverables 2,905,537 3,001,074 Net LFPB, after reinsurance recoverables $ 3,438,456 $ 3,530,008 Weighted-average duration of net LFPB (in years) 7.9 7.9
Schedule of Reconcile LFPB	The following table reconciles the LFPB to the unaudited condensed consolidated balance sheets: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 6,343,993 $ 6,531,082 Other 204,057 210,943 Total $ 6,548,050 $ 6,742,025
Schedule of Reconcile Reinsurance Recoverables	The following table reconciles the reinsurance recoverables to the unaudited condensed consolidated balance sheets: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance $ 2,905,537 $ 3,001,074 Other 14,880 14,703 Total $ 2,920,417 $ 3,015,777
Schedule of Amount of Discounted (using the then current discount rate) and Undiscounted Expected Gross Premiums and Expected Future Benefit Payments	The amount of discounted (using the then current discount rate) and undiscounted expected gross premiums and expected future benefit payments were as follows: March 31, 2024 December 31, 2023 (In thousands) Term Life Insurance Undiscounted Discounted Undiscounted Discounted Expected future benefit payments $ 33,603,218 $ 20,182,699 $ 33,342,272 $ 20,508,435 Expected future gross premiums $ 38,929,359 $ 26,337,620 $ 38,701,869 $ 26,687,880
Schedule of Amount of Revenue and Interest Recognized	The amount of revenue and interest recognized in our unaudited condensed consolidated statements of income were as follows: Three months ended March 31, 2024 2023 (In thousands) Term Life Insurance Gross premiums $ 836,322 $ 812,880 Interest accretion (expense) $ ( 77,593 ) $ ( 76,684 )
Schedule of Weighted Average Discount Rates	The weighted-average discount rates were as follows: March 31, 2024 December 31, 2023 Term Life Insurance Original discount rate 4.88 % 4.93 % Current discount rate 5.22 % 4.91 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Changes in Outstanding Common Stock	The following table shows changes in our outstanding common stock: Three months ended March 31, 2024 2023 (In thousands) Common stock, beginning of period $ 34,996 $ 36,824 Shares of common stock issued upon exercise of stock options - 43 Shares of common stock issued when sales restrictions on restricted stock units 110 129 Common stock retired ( 497 ) ( 589 ) Common stock, end of period $ 34,609 $ 36,407

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	The calculation of basic and diluted EPS was as follows: Three months ended March 31, 2024 2023 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income $ 137,904 $ 128,099 Income attributable to unvested participating securities ( 572 ) ( 579 ) Net income used in calculating basic EPS $ 137,332 $ 127,520 Denominator: Weighted-average vested shares 34,883 36,710 Basic EPS $ 3.94 $ 3.47 Diluted EPS: Numerator: Net income $ 137,904 $ 128,099 Income attributable to unvested participating securities ( 572 ) ( 578 ) Net income used in calculating diluted EPS $ 137,332 $ 127,521 Denominator: Weighted-average vested shares 34,883 36,710 Dilutive effect of incremental shares to be issued for 54 94 Weighted-average shares used in calculating diluted EPS 34,937 36,804 Diluted EPS $ 3.93 $ 3.46

Share-Based Transactions (Table

Share-Based Transactions (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Impact of Equity Awards Granted	The impact of equity awards granted under the OIP are as follows: Three months ended March 31, 2024 2023 (In thousands) Equity awards expense recognized $ 12,614 $ 12,125 Equity awards expense deferred 2,199 2,523

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of other comprehensive income (“OCI”), including the income tax expense or benefit allocated to each component, were as follows: Three months ended March 31, 2024 2023 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) $ ( 9,456 ) $ 1,020 Income tax expense (benefit) on unrealized foreign currency - - Change in unrealized foreign currency translation gains $ ( 9,456 ) $ 1,020 Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period $ ( 14,843 ) $ 38,549 Income tax expense (benefit) on unrealized holding gains ( 3,320 ) 8,316 Change in unrealized holding gains (losses) on available-for-sale ( 11,523 ) 30,233 Reclassification from accumulated OCI to net income for (gains) ( 7 ) 3,137 Income tax (expense) benefit on (gains) losses reclassified ( 1 ) 659 Reclassification from accumulated OCI to net income for (gains) ( 6 ) 2,478 Change in unrealized gains (losses) on available-for-sale $ ( 11,529 ) $ 32,711 Effect of change in discount rate assumptions on the LFPB: Change in effect in discount rate assumptions on the LFPB before income taxes $ 168,086 $ ( 181,281 ) Income tax (expense) benefit on the effect of change in discount rate assumptions on the LFPB from accumulated OCI to net income 36,147 ( 38,899 ) Change in effect in discount rate assumptions on the LFPB, net of income taxes $ 131,939 $ ( 142,382 )

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenues from Contracts	The disaggregation of our revenues from contracts with customers were as follows: Three months ended March 31, 2024 2023 (In thousands) Term Life Insurance segment revenues: Other, net $ 12,649 $ 12,233 Total segment revenues from contracts with customers 12,649 12,233 Revenues from sources other than contracts with customers 427,763 408,836 Total Term Life Insurance segment revenues $ 440,412 $ 421,069 Investment and Savings Products segment revenues: Commissions and fees Sales-based revenues $ 88,746 $ 72,388 Asset-based revenues 114,699 98,104 Account-based revenues 23,180 22,790 Other, net 3,258 3,120 Total segment revenues from contracts with customers 229,883 196,402 Revenues from sources other than contracts 13,833 13,800 Total Investment and Savings Products segment revenues $ 243,716 $ 210,202 Senior Health segment revenues: Commissions and fees $ 6,077 $ 15,755 Other, net 803 2,955 Total Senior Health segment revenues $ 6,880 $ 18,710 Corporate and Other Distributed Products segment revenues: Commissions and fees $ 8,486 $ 8,710 Other, net 705 1,199 Total segment revenues from contracts with customers 9,191 9,909 Revenues from sources other than contracts with customers 42,631 30,146 Total Corporate and Other Distributed Products segment revenues $ 51,822 $ 40,055
Summary of Renewal Commissions Receivable	Activity in the Renewal commissions receivable account was as follows: Three months ended March 31, 2024 2023 (In thousands) Senior Health segment: Balance, beginning of period $ 128,886 $ 139,399 Commissions revenue 6,324 9,062 Less: collections ( 11,436 ) ( 14,262 ) Tail revenue adjustment from change in estimate ( 7,841 ) - Balance, at the end of period $ 115,933 $ 134,199 Corporate and Other Distributed Products segment: Balance, beginning of period $ 61,372 $ 60,644 Commissions revenue 5,039 5,370 Less: collections ( 6,046 ) ( 5,804 ) Balance, at the end of period $ 60,365 $ 60,210

Description of Business, Basi_3

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Accounting standards update [extensible enumeration]	us-gaap:AccountingStandardsUpdate201812Member
Adoption Impacts [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Net income, percentage		2.40%
Increase to net income		$ 3
Increases to basic earnings per share		$ 0.08
Increases to diluted earnings per share		$ 0.08
Percentage of basic earnings per share		2.40%
Percentage of diluted earnings per share		2.40%

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment and Geographical Info_4

Segment and Geographical Information - Summary of Assets and Profit or Loss by Segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues		$ 742,830	$ 690,036
Net investment income		37,806	31,065
Amortization of deferred policy acquisition costs		72,049	67,923
Non-cash share-based compensation expense		12,614	12,074
Income (loss) before income taxes		179,236	166,942
Assets		14,909,354		$ 15,027,732
Term Life Insurance Segment [Member]
Segment Reporting Information [Line Items]
Revenues		440,412	421,069
Amortization of deferred policy acquisition costs		70,491	66,068
Non-cash share-based compensation expense		2,142	1,850
Income (loss) before income taxes		138,367	130,541
Assets		6,514,070		6,543,923
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		243,716	210,202
Amortization of deferred policy acquisition costs		1,201	1,493
Non-cash share-based compensation expense		1,039	993
Income (loss) before income taxes		65,562	56,106
Assets	[1]	2,484,768		2,537,079
Senior Health Segment [Member]
Segment Reporting Information [Line Items]
Revenues		6,880	18,710
Non-cash share-based compensation expense		99	160
Income (loss) before income taxes		(14,153)	(3,762)
Assets		404,888		419,110
Corporate and Other Distributed Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		51,822	40,055
Net investment income		37,806	31,065
Amortization of deferred policy acquisition costs		357	362
Non-cash share-based compensation expense		9,334	9,071
Income (loss) before income taxes		(10,540)	$ (15,943)
Assets		$ 5,505,628		$ 5,527,620
[1] The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $ 149.9 million and $ 141.3 million as of March 31, 2024 and December 31, 2023 , respectively.

Segment and Geographical Info_5

Segment and Geographical Information - Summary of Assets and Profit or Loss by Segment (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Assets, excluding separate account assets	$ 149.9	$ 141.3

Segment and Geographical Info_6

Segment and Geographical Information - Long Lived Assets and Continuing Operations by Country (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 742,830	$ 690,036
Long-lived assets	41,253		$ 38,267
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	647,342	603,850
Long-lived assets	38,575		35,434
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	95,488	$ 86,186
Long-lived assets	2,490		2,636
Other [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	$ 188		$ 197

Investments - Schedule of Avail

Investments - Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, at fair value	$ 2,782,140	$ 2,719,467
U.S. Government and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	10,378	9,974
Available-for-sale debt securities gross unrealized gain	11	18
Available-for-sale debt securities, gross unrealized loss	(514)	(476)
Available-for-sale debt securities, at fair value	9,875	9,516
Foreign Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	168,671	170,354
Available-for-sale debt securities gross unrealized gain	656	1,616
Available-for-sale debt securities, gross unrealized loss	(10,507)	(8,588)
Available-for-sale debt securities, at fair value	158,820	163,382
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	144,543	145,779
Available-for-sale debt securities gross unrealized gain	575	891
Available-for-sale debt securities, gross unrealized loss	(14,894)	(14,681)
Available-for-sale debt securities, at fair value	130,224	131,989
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	1,778,147	1,723,023
Available-for-sale debt securities gross unrealized gain	10,844	14,787
Available-for-sale debt securities, gross unrealized loss	(126,858)	(120,286)
Available-for-sale debt securities, at fair value	1,662,133	1,617,524
Residential Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	513,935	499,771
Available-for-sale debt securities gross unrealized gain	1,089	1,688
Available-for-sale debt securities, gross unrealized loss	(68,039)	(63,928)
Available-for-sale debt securities, at fair value	446,985	437,531
Commercial Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	123,895	127,454
Available-for-sale debt securities gross unrealized gain	120	156
Available-for-sale debt securities, gross unrealized loss	(12,911)	(15,443)
Available-for-sale debt securities, at fair value	111,104	112,167
Other Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	273,166	258,857
Available-for-sale debt securities gross unrealized gain	1,039	763
Available-for-sale debt securities, gross unrealized loss	(11,206)	(12,262)
Available-for-sale debt securities, at fair value	262,999	247,358
Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	3,012,735	2,935,212
Available-for-sale debt securities gross unrealized gain	14,334	19,919
Available-for-sale debt securities, gross unrealized loss	(244,929)	(235,664)
Available-for-sale debt securities, at fair value	2,782,140	2,719,467
Short-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	271	276
Available-for-sale debt securities, at fair value	271	276
Fixed-Maturity Securities and Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	3,013,006	2,935,488
Available-for-sale debt securities gross unrealized gain	14,334	19,919
Available-for-sale debt securities, gross unrealized loss	(244,929)	(235,664)
Available-for-sale debt securities, at fair value	$ 2,782,411	$ 2,719,743

Investments - Fixed-maturity Se

Investments - Fixed-maturity Securities Classified by Contractual Maturity Securities (Details) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale Securities, Debt Maturities [Abstract]
Total available-for-sale fixed-maturity securities	$ 2,782,140	$ 2,719,467
Fixed Maturities
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less, amortized cost	220,907
Due after one year through five years, amortized cost	731,699
Due after five years through 10 years, amortized cost	794,837
Due after 10 years, amortized cost	354,296
Total fixed-maturity securities with single maturity dates, amortized cost	2,101,739
Mortgage and asset-backed securities, amortized cost	910,996
Available-for-sale debt securities, amortized cost basis	3,012,735	$ 2,935,212
Due in one year or less, fair value	218,962
Due after one year through five years, fair value	702,785
Due after five years through 10 years, fair value	718,088
Due after 10 years, fair value	321,217
Total fixed-maturity securities with single maturity dates, fair value	1,961,052
Mortgage and asset-backed securities, fair value	821,088
Total available-for-sale fixed-maturity securities	$ 2,782,140

Investments - Costs and Fair Va

Investments - Costs and Fair Values of Fixed-Maturity Securities Classified as Trading Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	$ 3,800	$ 18,761
Fixed Maturities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	3,800	18,761
Total trading securities, Fair value	$ 3,253	$ 18,383

Investments - Held-to-maturity

Investments - Held-to-maturity Security - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Schedule Of Held To Maturity Securities [Line Items]
Investment, Type [Extensible Enumeration]	Deposit Asset Underlying10 Insurance Agreement [Member]	Deposit Asset Underlying10 Insurance Agreement [Member]	Deposit Asset Underlying10 Insurance Agreement [Member]
Held-to-maturity debt security estimated unrealized holding loss	$ (77,200,000)
Held-to-maturity debt security Credit losses	$ 0	$ 0
LLC Note [Member]
Schedule Of Held To Maturity Securities [Line Items]
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, interest rate, stated percentage	4.50%
Surplus Note [Member]
Schedule Of Held To Maturity Securities [Line Items]
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, interest rate, stated percentage	4.50%

Investments - Fair Value of Inv

Investments - Fair Value of Investments on Deposit with Governmental Authorities - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Fair values of investments on deposit	$ 7.7	$ 7.3

Investments - Securities Lendin

Investments - Securities Lending Collateral - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Securities Received as Collateral [Abstract]
Securities loaned, minimum collateral to loan ratio	102%
Securities loaned, additional collateral requirement, decline in collateral value threshold percentage	100%
Cash collateral received and reinvested	$ 76.6	$ 99.8

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Net Investment Income [Line Items]
Gross investment income, operating		$ 55,728	$ 49,727
Investment expenses		(2,137)	(2,227)
Investment income net of investment expenses		53,591	47,500
Interest expense on surplus note		(15,785)	(16,435)
Net investment income		37,806	31,065
Equity Securities [Member]
Net Investment Income [Line Items]
Gross investment income, operating		390	380
Policy Loans and Other Invested Assets [Member]
Net Investment Income [Line Items]
Gross investment income, operating		461	(71)
Cash, Cash Equivalents and Short-Term Investments [Member]
Net Investment Income [Line Items]
Gross investment income, operating		6,982	5,128
Total return on deposit asset underlying 10% insurance agreement [Member]
Net Investment Income [Line Items]
Gross investment income, operating	[1]	2,174	2,049
Available-for-Sale [Member] | Fixed Maturities
Net Investment Income [Line Items]
Gross investment income, operating		29,936	25,806
Held-to-Maturity [Member] | Fixed Maturities
Net Investment Income [Line Items]
Gross investment income, operating		$ 15,785	$ 16,435
[1] I ncludes $( 0.1 ) million and $( 0.3 ) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10 % coinsurance agreement for the three months ended March 31, 2024 and 2023 , respectively.

Investments - Net Investment _2

Investments - Net Investment Income (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gains (losses) recognized for change in fair value of deposit asset underlying the 10% coinsurance agreement	$ (0.1)	$ (0.3)
Investment, Type [Extensible Enumeration]	Deposit Asset Underlying10 Insurance Agreement [Member]	Deposit Asset Underlying10 Insurance Agreement [Member]	Deposit Asset Underlying10 Insurance Agreement [Member]
Percentage of coinsurance costs	10%	10%
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Realized Investment Gains (Losses)	Realized Investment Gains (Losses)

Investments - Schedule of Compo

Investments - Schedule of Components of Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Realized investment gains (losses):
Gross gains from sales of available-for-sale fixed maturity securities	$ 7	$ 49
Gross losses from sales of available-for-sale fixed maturity securities		(1,034)
Realized investment gains (losses)	7	(985)
Other investment gains (losses):
Credit losses impairment of available-for-sale securities		(2,160)
Market gains (losses) recognized in net income during the period on equity securities	1,296	(1,475)
Gains (losses) from bifurcated options	(5)	8
Gains (losses) on trading securities	7	4
Other investment gains (losses)	1,298	(3,623)
Investment gains (losses)	$ 1,305	$ (4,608)

Investments - Schedule of Proce

Investments - Schedule of Proceeds from Sales or Other Redemptions of Available-For-Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale [Abstract]
Proceeds from sales or other redemptions	$ 86,418	$ 85,430

Investments - Accrued Interest

Investments - Accrued Interest - Narrative (Details)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Securities, description on accrued interest	Accrued interest is recorded in accordance with the contractual interest schedule of the underlying security. In the event of default, the Company’s policy is to no longer accrue interest on these securities and to write off any remaining accrued interest. As a result, the Company has made the policy election to not record an allowance for credit losses on accrued interest.

Investments - Schedule of Secur

Investments - Schedule of Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	$ 262,158	$ 122,885
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(3,010)	(1,423)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	1,992,405	2,047,975
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(241,919)	(234,241)
U.S. Government and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	1,880
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(24)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	7,674	9,188
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(490)	(476)
Foreign Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	37,766	17,209
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(644)	(62)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	101,380	104,827
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(9,863)	(8,526)
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	7,956	4,883
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(98)	(46)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	106,771	107,021
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(14,796)	(14,635)
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	133,934	39,783
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(1,582)	(907)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	1,196,896	1,231,694
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(125,276)	(119,379)
Residential Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	32,912	14,872
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(446)	(142)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	350,716	360,987
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(67,593)	(63,786)
Commercial Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	2,010	4,721
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(8)	(107)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	98,186	97,417
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(12,903)	(15,336)
Other Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	45,700	41,417
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(208)	(159)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	130,782	136,841
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	$ (10,998)	$ (12,103)

Investments - AFS Securities wi

Investments - AFS Securities with Cost Basis in Excess of Fair Value - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale fixed-maturities with cost basis in excess of fair values, cost basis	$ 2,499,500,000		$ 2,406,500,000
Allowance for credit losses	0
Available-for-sale credit (gains) losses	$ 0	$ 2,200,000

Investments - Loss from Closed

Investments - Loss from Closed Currency Forward Contracts Recorded in Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [Abstract]
Deferred loss related to closed forward contracts	$ (26.4)	$ (26.4)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 2,782,140	$ 2,719,467
Equity securities	26,647	29,680
Cash and cash equivalents	593,399	613,148
Separate account assets	2,334,911	2,395,842
Separate account liabilities	2,334,911	2,395,842	$ 2,305,717
Fair Value, Recurring Measurements [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	2,782,140	2,719,467
Equity securities	26,647	29,680
Trading securities	3,253	18,383
Cash and cash equivalents	593,399	613,148
Separate account assets	2,334,911	2,395,842
Assets, fair value disclosure	5,740,621	5,776,796
Separate account liabilities	2,334,911	2,395,842
Liabilities, fair value disclosure	2,334,911	2,395,842
Fair Value, Recurring Measurements [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	3,946	3,951
Equity securities	24,038	27,062
Cash and cash equivalents	593,399	613,148
Assets, fair value disclosure	621,383	644,161
Fair Value, Recurring Measurements [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	2,778,194	2,715,016
Equity securities	978	974
Trading securities	3,253	18,383
Separate account assets	2,334,911	2,395,842
Assets, fair value disclosure	5,117,607	5,130,491
Separate account liabilities	2,334,911	2,395,842
Liabilities, fair value disclosure	2,334,911	2,395,842
Fair Value, Recurring Measurements [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities		500
Equity securities	1,631	1,644
Assets, fair value disclosure	1,631	2,144
Fair Value, Recurring Measurements [Member] | U.S. Government and Agencies [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	9,875	9,516
Fair Value, Recurring Measurements [Member] | U.S. Government and Agencies [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	9,875	9,516
Fair Value, Recurring Measurements [Member] | Foreign Government [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	158,820	163,382
Fair Value, Recurring Measurements [Member] | Foreign Government [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	158,820	163,382
Fair Value, Recurring Measurements [Member] | States and Political Subdivisions [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	130,224	131,989
Fair Value, Recurring Measurements [Member] | States and Political Subdivisions [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	130,224	131,989
Fair Value, Recurring Measurements [Member] | Corporates [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	1,662,133	1,617,524
Fair Value, Recurring Measurements [Member] | Corporates [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	3,946	3,951
Fair Value, Recurring Measurements [Member] | Corporates [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	1,658,187	1,613,573
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	446,985	437,531
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	446,985	437,531
Fair Value, Recurring Measurements [Member] | Commercial Mortgage-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	111,104	112,167
Fair Value, Recurring Measurements [Member] | Commercial Mortgage-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	111,104	112,167
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	262,999	247,358
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	262,999	246,858
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities		500
Fair Value, Recurring Measurements [Member] | Short-Term Investments
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	271	276
Fair Value, Recurring Measurements [Member] | Short-Term Investments | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	271	276
Fair Value, Recurring Measurements [Member] | Fixed-Maturity Securities and Short-term Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	2,782,411	2,719,743
Fair Value, Recurring Measurements [Member] | Fixed-Maturity Securities and Short-term Investments [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	3,946	3,951
Fair Value, Recurring Measurements [Member] | Fixed-Maturity Securities and Short-term Investments [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 2,778,465	2,715,292
Fair Value, Recurring Measurements [Member] | Fixed-Maturity Securities and Short-term Investments [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities		$ 500

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Rollforward of Level 3 Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Realized gains (losses) and accretion (amortization) recognized in earnings	$ (100)	$ (300)
Fair Value, Recurring Measurements [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Level 3 assets, beginning of period	2,144	1,710
Net unrealized gains (losses) included in other comprehensive income	$ 4
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax
Realized gains (losses) and accretion (amortization) recognized in earnings	$ (13)	(17)
Purchases		2,316
Transfers out of Level 3	(504)
Level 3 assets, end of period	$ 1,631	$ 4,009

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair value security, level 1 to level 2 transfers, amount	$ 0	$ 0
Fair Value security, level 1 to level 3 transfers, amount	$ 0	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		$ 2,782,140	$ 2,719,467
Fixed-maturity security held to maturity, fair value		1,299,228	1,334,892
Equity securities		26,647	29,680
Separate account assets		2,334,911	2,395,842
Surplus note		1,376,028	1,386,592
Separate account liabilities		2,334,911	2,395,842	$ 2,305,717
Fixed-maturity security (held-to-maturity)		1,376,400	1,386,980
Reported Value Measurement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		2,782,140	2,719,467
Short-term investments (available-for-sale)		271	276
Equity securities		26,647	29,680
Trading securities		3,253	18,383
Separate account assets		2,334,911	2,395,842
Separate account liabilities		2,334,911	2,395,842
Reported Value Measurement [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Policy loans	[1]	39,052	38,975
Surplus note	[1],[2]	1,376,028	1,386,592
Fixed-maturity security (held-to-maturity)	[1]	1,376,400	1,386,980
Reported Value Measurement [Member] | Level 3 [Member] | Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deposit asset underlying 10% coinsurance agreement	[1]	182,684	187,377
Reported Value Measurement [Member] | Level 2 [Member] | Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Note payable - Long term	[2],[3]	593,909	593,709
Estimate of Fair Value Measurement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		2,782,140	2,719,467
Short-term investments (available-for-sale)		271	276
Equity securities		26,647	29,680
Trading securities		3,253	18,383
Separate account assets		2,334,911	2,395,842
Separate account liabilities		2,334,911	2,395,842
Estimate of Fair Value Measurement [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed-maturity security held to maturity, fair value	[1]	1,299,228	1,334,892
Policy loans	[1]	39,052	38,975
Surplus note	[1],[2]	1,296,276	1,329,159
Estimate of Fair Value Measurement [Member] | Level 3 [Member] | Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deposit asset underlying 10% coinsurance agreement	[1]	182,684	187,377
Estimate of Fair Value Measurement [Member] | Level 2 [Member] | Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Note payable - Long term	[2],[3]	$ 498,401	$ 508,832
[1] Classified as a Level 3 fair value measurement. Carrying value amounts shown are net of unamortized issuance costs. Classified as a Level 2 fair value measurement.

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Financial Instruments (Parenthetical) (Details)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of coinsurance costs	10%		10%
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of coinsurance costs	10%	10%

Reinsurance - In-force Life Ins

Reinsurance - In-force Life Insurance (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
Direct life insurance in-force	$ 949,216,091	$ 946,756,416
Amounts ceded to other companies	(811,072,619)	(810,145,801)
Net life insurance in-force	$ 138,143,472	$ 136,610,615
Percentage of reinsured life insurance in-force	85%	86%

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reinsurance Disclosures [Abstract]
Benefits and claims ceded to reinsurers	$ 357	$ 338.9

Reinsurance - Reinsurance Recov

Reinsurance - Reinsurance Recoverables Estimated by Reinsurer and Financial Strength Ratings of Reinsurer (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ 2,920,417	$ 3,015,777
Swiss Re Life & Health America Inc. (Novated from Pecan Re, Inc.) [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1]	2,215,368	2,271,223
Munich Re of Malta [Member] | External credit rating, not rated [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1],[2]	229,847	243,890
American Health and Life Insurance Company [Member] | AM Best, B++ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1]	136,886	141,771
SCOR Global Life Reinsurance Companies [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[3]	147,608	160,381
Swiss Re Life & Health America Inc. [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[4]	44,090	43,873
RGA Reinsurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		43,201	43,188
Korean Reinsurance Company [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		40,133	41,373
Munich American Reassurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		46,557	50,273
All Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		17,775	20,925
Allowance for Credit Losses [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ (1,048)	$ (1,120)
[1] Reinsurance recoverables include balances ceded under coinsurance transactions of term life insurance policies that were in-force as of December 31, 2009. Amounts shown are net of their share of the reinsurance recoverable from other reinsurers. Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables. Entity is rated AA- by S&P. Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies. Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.

Reinsurance - Allowance for Cre

Reinsurance - Allowance for Credit Loss on Reinsurance Recoverable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reinsurance Disclosures [Abstract]
Balance, beginning of period	$ 1,120	$ 2,936
Current period provision for expected credit losses	(72)	627
Balance, at the end of period	$ 1,048	$ 3,563

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Balances and Activity in DAC Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
DAC balance, beginning of period	$ 3,447,234
Amortization	(72,049)	$ (67,923)
DAC balance, end of period	3,503,940		$ 3,447,234
Term Life [Member]
Deferred Policy Acquisition Cost [Line Items]
DAC balance, beginning of period	3,366,281	3,106,148	3,106,148
Capitalization	135,959		521,718
Amortization	(70,491)		(268,803)
Foreign exchange translation and other	(6,560)		7,218
DAC balance, end of period	3,425,189		3,366,281
Segregated Funds (Canada) [Member]
Deferred Policy Acquisition Cost [Line Items]
DAC balance, beginning of period	63,029	$ 62,341	62,341
Capitalization	902		4,353
Amortization	(1,201)		(5,479)
Foreign exchange translation and other	(1,651)		1,814
DAC balance, end of period	$ 61,079		$ 63,029

Deferred Policy Acquisition C_4

Deferred Policy Acquisition Costs - Reconciliation of DAC (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Policy Acquisition Cost [Line Items]
Total DAC, net	$ 3,503,940	$ 3,447,234
Term Life Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Total DAC, net	3,425,189	3,366,281	$ 3,106,148
Segregated Funds (Canada) [Member]
Deferred Policy Acquisition Cost [Line Items]
Total DAC, net	61,079	63,029	$ 62,341
Other [Member]
Deferred Policy Acquisition Cost [Line Items]
Total DAC, net	$ 17,672	$ 17,924

Separate Accounts - Schedule of

Separate Accounts - Schedule of Fair Value of Separate Accounts by Major Category of Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	$ 2,334,911	$ 2,395,842
Fixed Income Securities [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	802,655	876,524
Equity Securities [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	1,472,006	1,436,122
Cash and Cash Equivalents [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	73,053	87,530
Due To/From Funds [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	(12,824)	(4,357)
Other [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account assets	$ 21	$ 23

Separate Accounts - Schedule _2

Separate Accounts - Schedule of Balances of and Changes in Separate Account Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Separate Accounts Disclosure [Abstract]
Separate Account, Liability, Beginning Balance	$ 2,395,842	$ 2,305,717
Premiums and deposits	55,773	186,631
Surrenders and withdrawals	(126,228)	(343,473)
Investment performance	87,443	245,565
Management fees and other charges	(15,115)	(62,159)
Foreign exchange translation	(62,804)	63,561
Separate Account, Liability, Ending Balance	2,334,911	2,395,842
Cash surrender value	$ 2,300,124	$ 2,354,813

Policy Claims and Other Benef_3

Policy Claims and Other Benefits Payable - Schedule of Liability For Policy Claims and Other Benefits Payable (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Policy claims and other benefits payable, beginning of period		$ 513,803	$ 538,250
Reinsured policy claims and other benefits payable, beginning of period		534,674	542,613
Net balance, beginning of period		(20,871)	(4,363)
Incurred related to current year		69,021	65,820
Incurred related to prior years	[1]	(3,967)	(2,732)
Total incurred		65,054	63,088
Claims paid related to current year, net of reinsured policy claims received		(126,076)	(141,557)
Reinsured policy claims received related to prior years, net of claims paid		40,499	8,422
Total paid		(85,577)	(133,135)
Foreign currency translation		(250)	38
Net balance, end of period		(41,644)	(74,372)
Reinsured policy claims and other benefits payable, end of period		559,112	572,855
Policy claims and other benefits payable, end of period		$ 517,468	$ 498,483
[1] Includes the difference between our estimate of claims incurred but not yet reported as of period-end and the actual incurred claims reported after period-end.

Future Policy Benefits - Schedu

Future Policy Benefits - Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Present Value of Expected Net Premiums
Balance at then current discount rate, beginning of period, Present value of expected net premiums	$ 13,977,353	$ 13,053,386
Balance at original discount rate, beginning of period, Present value of expected net premium	14,012,553	13,521,221
Effect of changes in cash flow assumptions, Present value of expected net premiums		(5,364)
Effect of actual variances from expected experience, Present value of expected net premiums	(68,167)	(229,884)
Adjusted balance, beginning of period	13,944,386	13,285,973
Issuances, Present value of expected net premiums	495,614	1,836,290
Interest accrual at Original discount rate, Present value of expected net premiums	151,049	544,806
Net premiums collected, Present value of expected net premiums	(429,268)	(1,682,924)
Foreign currency translation, Present value of expected net premiums	(28,030)	28,408
Expected net premiums at original discount rate, end of period	14,133,751	14,012,553
Effect of changes in discount rate assumptions, Present value of expected net premiums	(295,046)	(35,200)
Balance at then current discount rate, end of period, Present value of expected net premiums	13,838,705	13,977,353
Present Value of Expected Future Policy Benefits
Balance at then current discount rate, beginning of period, Present value of expected future policy benefits	20,508,435	19,143,253
Balance at original discount rate, beginning of period, Present value of expected future policy benefits	20,391,694	19,706,818
Effect of changes in cash flow assumptions, Present value of expected future policy benefits		(7,254)
Effect of actual variances from expected experience, Present value of expected future policy benefits	(56,046)	(225,539)
Adjusted balance, beginning of period, Present value of expected future policy benefits	20,335,648	19,474,025
Issuances, Present value of expected future policy benefits	498,175	1,840,996
Interest accrual at Original discount rate, Present value of expected future policy benefits	228,641	856,727
Benefit payments, Present value of expected future policy benefits	(490,713)	(1,823,542)
Foreign currency translation, Present value of expected future policy benefits	(42,811)	43,488
Expected future policy benefits at original discount rate, end of period, Present value of expected future policy benefits	20,528,940	20,391,694
Effect of changes in discount rate assumptions, Present value of expected future policy benefits	(346,242)	116,741
Expected future policy benefits at then current discount rate, end of period, Present value of expected future policy benefits	20,182,698	20,508,435
LFPB	6,548,050	6,742,025
Less: reinsurance recoverables	2,905,537	3,001,074
Net LFPB, after reinsurance recoverables	$ 3,438,456	$ 3,530,008
Weighted-average duration of net LFPB	7 years 10 months 24 days	7 years 10 months 24 days
Term Life
Present Value of Expected Future Policy Benefits
LFPB	$ 6,343,993	$ 6,531,082

Future Policy Benefits - Narrat

Future Policy Benefits - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Claims and Claims Adjustment Expense [Abstract]
Future policy benefits as level percentage	100%	100%
Future policy benefits remeasurement loss	$ (55)	$ (559)

Future Policy Benefits - Sche_2

Future Policy Benefits - Schedule of Reconcile LFPB (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 6,548,050	$ 6,742,025
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	6,343,993	6,531,082
Other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	204,057	210,943
Term Life and Other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 6,548,050	$ 6,742,025

Future Policy Benefits - Sche_3

Future Policy Benefits - Schedule of Reconcile Reinsurance Recoverables (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Reinsurance recoverables	$ 2,920,417	$ 3,015,777
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Reinsurance recoverables	2,905,537	3,001,074
Other
Liability for Future Policy Benefit, Activity [Line Items]
Reinsurance recoverables	14,880	14,703
Term Life and Other
Liability for Future Policy Benefit, Activity [Line Items]
Reinsurance recoverables	$ 2,920,417	$ 3,015,777

Future Policy Benefits - Sche_4

Future Policy Benefits - Schedule of Amount of Discounted (using the then current discount rate) and Undiscounted Expected Gross Premiums and Expected Future Benefit Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Expected future benefit payments, Undiscounted	$ 33,603,218	$ 33,342,272
Expected future benefit payments, Discounted	20,182,699	20,508,435
Expected future gross premiums, Undiscounted	38,929,359	38,701,869
Expected future gross premiums, Discounted	$ 26,337,620	$ 26,687,880

Future Policy Benefits - Sche_5

Future Policy Benefits - Schedule of Amount of Revenue and Interest Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Gross premiums	$ 836,322	$ 812,880
Interest accretion (expense)	$ (77,593)	$ (76,684)

Future Policy Benefits - Sche_6

Future Policy Benefits - Schedule of Weighted Average Discount Rates (Details)	Mar. 31, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Original discount rate	4.88%	4.93%
Current discount rate	5.22%	4.91%

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Outstanding Common Stock (Details) - shares	1 Months Ended	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Common stock, beginning of period		34,996,000	36,824,000
Shares of common stock issued upon exercise of stock options			43,000
Shares of common stock issued when sales restrictions on restricted stock units ("RSUs") lapsed and performance-based stock units ("PSUs") were earned		110,000	129,000
Common stock retired	(465,938)	(497,000)	(589,000)
Common stock, end of period	34,609,000	34,609,000	36,407,000

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Nov. 16, 2023
Class Of Stock [Line Items]
Stock repurchased program, authorized amount				$ 425,000,000
Stock repurchased and retired during period, shares	465,938	497,000	589,000
Stock repurchased and retired during period, value		$ 109,100,000
Stock repurchase program, remaining authorized repurchase amount	$ 315,900,000	$ 315,900,000
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	223,730	223,730
Performance share units (PSUs) [Member]
Class Of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	58,619	58,619

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss)	$ 137,904	$ 128,099
Income attributable to unvested participating securities, basic EPS	(572)	(579)
Net income used in calculating basic EPS	$ 137,332	$ 127,520
Weighted-average vested shares	34,883	36,710
Basic EPS	$ 3.94	$ 3.47
Income attributable to unvested participating securities, diluted EPS	$ (572)	$ (578)
Net income used in calculating diluted EPS	$ 137,332	$ 127,521
Dilutive effect of incremental shares to be issued for contingently-issuable shares	54	94
Weighted-average shares used in calculating diluted EPS	34,937	36,804
Diluted EPS	$ 3.93	$ 3.46

Share-Based Transactions - Impa

Share-Based Transactions - Impact of Equity Awards Granted (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards expense recognized	$ 12,614	$ 12,125
Expense Deferred [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards expense deferred	$ 2,199	$ 2,523

Share-Based Transactions - Narr

Share-Based Transactions - Narrative (Details)	Feb. 16, 2024 $ / shares shares
Restricted stock units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares awarded	48,998
Measurement date fair value | $ / shares	$ 244.89
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Performance share units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares awarded	15,005
Measurement date fair value | $ / shares	$ 244.89
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Performance share units (PSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of PSUs vested during the period	22,507
Performance share units (PSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of PSUs vested during the period	0

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses) before income taxes	$ (9,456)	$ 1,020
Change in unrealized foreign currency translation gains (losses), net of income taxes	(9,456)	1,020
Unrealized gain (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) arising during period before income taxes	(14,843)	38,549
Income tax expense (benefit) on unrealized holding gains (losses) arising during period	(3,320)	8,316
Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes	(11,523)	30,233
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities	(7)	3,137
Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income	(1)	659
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes	(6)	2,478
Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment	(11,529)	32,711
Effect of change in discount rate assumptions on the LFPB:
Change in effect in discount rate assumptions on the LFPB before income taxes	168,086	(181,281)
Income tax (expense) benefit on the effect of change in discount rate assumptions on the LFPB from accumulated OCI to net income	36,147	(38,899)
Change in effect in discount rate assumptions on the LFPB, net of income taxes	$ 131,939	$ (142,382)

Debt - Narrative (Details)

Debt - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 200,000,000
Debt instrument maturity date	Jun. 22, 2026
Debt instrument, frequency of commitment fee payable	quarterly
Amount withdraw From revolving credit facilities	$ 0
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage	0.225%
Maximum [Member] | SOFR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	1.625%
Maximum [Member] | Base Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	0.625%
Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage	0.10%
Minimum [Member] | SOFR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	1%
Minimum [Member] | Base Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	0%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Debt instrument, interest rate, stated percentage	2.80%
Debt instrument maturity date	Nov. 19, 2031
Surplus Note [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,400,000,000
Debt instrument, interest rate, stated percentage	4.50%

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Disaggregation of Revenues from Contracts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	$ 742,830	$ 690,036
Term Life Insurance Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	440,412	421,069
Term Life Insurance Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	12,649	12,233
Term Life Insurance Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	12,649	12,233
Term Life Insurance Segment [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	427,763	408,836
Investment and Savings Product Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	243,716	210,202
Investment and Savings Product Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	229,883	196,402
Investment and Savings Product Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	3,258	3,120
Investment and Savings Product Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Sales-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	88,746	72,388
Investment and Savings Product Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Asset-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	114,699	98,104
Investment and Savings Product Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Account-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	23,180	22,790
Investment and Savings Product Segment [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	13,833	13,800
Senior Health Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	6,880	18,710
Senior Health Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	6,880	18,710
Senior Health Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	803	2,955
Senior Health Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	6,077	15,755
Corporate and Other Distributed Products Segment Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	51,822	40,055
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	9,191	9,909
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	705	1,199
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	8,486	8,710
Corporate and Other Distributed Products Segment Revenues [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	$ 42,631	$ 30,146

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Renewal Commissions Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Senior Health Segment [Member]
Disaggregation Of Revenue [Line Items]
Balance, beginning of period	$ 128,886	$ 139,399
Commissions revenue	6,324	9,062
Less: collections	(11,436)	(14,262)
Tail revenue adjustment from change in estimate	(7,841)
Balance, at the end of period	115,933	134,199
Corporate and Other Distributed Products Segment Revenues [Member]
Disaggregation Of Revenue [Line Items]
Balance, beginning of period	61,372	60,644
Commissions revenue	5,039	5,370
Less: collections	(6,046)	(5,804)
Balance, at the end of period	$ 60,365	$ 60,210

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Narrative (Details)	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Assets recognized for incremental costs	$ 0

Subsequent Event - (Narrative)

Subsequent Event - (Narrative) (Details) - e-Telequote [Member] - USD ($) $ in Millions		3 Months Ended
	Jul. 01, 2021	Jun. 30, 2024
Subsequent Event [Line Items]
Business acquisition, date Of acquisition agreement	Jul. 01, 2021
Forecast [Member]
Subsequent Event [Line Items]
Gain on litigation settlement		$ 50