Primerica (PRI) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
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	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	PRI
Amendment Flag	false
Entity Common Stock, Shares Outstanding		39,489,856
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	Sep. 30, 2021	Dec. 31, 2020
Investments:
Fixed-maturity securities and Short-term investments available-for-sale, at fair value	$ 2,595,504	$ 2,464,611
Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,565,048 in 2021 and $1,606,208 in 2020)	1,376,090	1,346,350
Short-term investments available-for-sale, at fair value (amortized cost: $40,043 in 2021 and $0 in 2020)	40,037
Equity securities, at fair value (historical cost: $33,885 in 2021 and $32,031 in 2020)	40,946	38,023
Trading securities, at fair value (cost: $26,533 in 2021 and $16,359 in 2020)	26,251	16,300
Policy loans	28,079	30,199
Total investments	4,106,907	3,895,483
Cash and cash equivalents	325,578	547,569
Accrued investment income	19,499	17,618
Reinsurance recoverables	4,278,322	4,273,904
Deferred policy acquisition costs, net	2,877,921	2,629,644
Renewal commissions receivable	268,952	54,845
Agent balances, due premiums and other receivables	271,626	259,448
Goodwill	224,180
Intangible assets	204,550	45,275
Income taxes	74,556	73,290
Operating lease right-of-use assets	48,943	46,567
Other assets	442,495	402,122
Separate account assets	2,672,606	2,659,520
Total assets	15,816,135	14,905,285
Liabilities:
Future policy benefits	7,057,599	6,790,557
Unearned and advance premiums	19,208	17,136
Policy claims and other benefits payable	557,125	519,711
Other policyholders’ funds	478,592	447,765
Notes payable - Short term	389,702
Other debt obligations - Long term	125,000	374,415
Surplus note	1,375,559	1,345,772
Income taxes	260,264	223,496
Operating lease liabilities	55,002	52,806
Other liabilities	613,641	566,068
Payable under securities lending	105,264	72,154
Separate account liabilities	2,672,606	2,659,520
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities	13,709,562	13,069,400
Temporary Stockholders' Equity
Redeemable noncontrolling interests in consolidated entities	7,631
Equity attributable to Primerica, Inc.:
Common stock ($0.01 par value; authorized 500,000 shares in 2021 and 2020; issued and outstanding 39,471 shares in 2021 and 39,306 shares in 2020)	395	393
Paid-in capital	17,454
Retained earnings	1,988,324	1,705,786
Accumulated other comprehensive income (loss), net of income tax:
Unrealized foreign currency translation gains (losses)	8,068	1,578
Net unrealized investment gains (losses) on available-for-sale securities	84,701	128,128
Total permanent stockholders' equity	2,098,942	1,835,885
Total liabilities and temporary and permanent stockholders’ equity	$ 15,816,135	$ 14,905,285

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments:
Fixed-maturity securities held to maturity, fair value	$ 1,565,048	$ 1,606,208
Equity securities, at fair value, cost	33,885	32,031
Trading securities, amortized cost	$ 26,533	$ 16,359
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	39,471,000	39,306,000
Common stock, shares outstanding	39,471,000	39,306,000
Fixed Maturities
Investments:
Fixed-maturity securities and Short-term investments available-for-sale, amortized cost	$ 2,487,846	$ 2,301,238
Trading securities, amortized cost	26,533	16,359
Short-Term Investments
Investments:
Fixed-maturity securities and Short-term investments available-for-sale, amortized cost	$ 40,043	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Direct premiums	$ 785,277	$ 736,606	$ 2,327,804	$ 2,156,331
Ceded premiums	(401,295)	(393,716)	(1,211,117)	(1,183,090)
Net premiums	383,982	342,890	1,116,687	973,241
Commissions and fees	269,796	185,302	754,529	547,159
Investment income net of investment expenses	35,741	37,657	106,970	103,333
Interest expense on surplus note	(15,741)	(14,704)	(46,382)	(42,250)
Net investment income	20,000	22,953	60,588	61,083
Realized investment gains (losses)	1,410	642	3,876	(7,645)
Other, net	18,051	16,674	49,958	45,375
Revenues	693,239	568,461	1,985,638	1,619,213
Benefits and expenses:
Benefits and claims	183,425	160,166	535,561	434,625
Amortization of deferred policy acquisition costs	62,214	47,491	182,604	170,979
Sales commissions	129,268	91,950	382,465	274,049
Insurance expenses	51,901	46,109	149,246	138,572
Insurance commissions	8,412	9,694	25,990	22,871
Contract acquisition costs	23,524		23,524
Interest expense	7,529	7,221	21,814	21,614
Other operating expenses	79,864	59,347	219,559	181,413
Total benefits and expenses	546,137	421,978	1,540,763	1,244,123
Income before income taxes	147,102	146,483	444,875	375,090
Income taxes	35,663	34,382	107,403	89,010
Net income (loss)	111,439	112,101	337,472	286,080
Net income (loss) attributable to noncontrolling interests	(1,017)		(1,017)
Net income (loss) attributable to Primerica, Inc.	$ 112,456	$ 112,101	$ 338,489	$ 286,080
Earnings per share attributable to common stockholders:
Basic earnings per share	$ 2.83	$ 2.82	$ 8.53	$ 7.07
Diluted earnings per share	$ 2.82	$ 2.81	$ 8.50	$ 7.05
Weighted-average shares used in computing earnings per share:
Basic	39,561	39,588	39,516	40,281
Diluted	39,679	39,710	39,637	40,396
Supplemental disclosures:
Total impairment gains (losses)	$ (149)	$ 23	$ 710	$ 4,269
Other net realized investment gains (losses)	1,679	92	3,469	1,176
Net gains (losses) recognized on equity securities	(418)	573	1,117	(4,552)
Net realized investment gains (losses)	$ 1,410	$ 642	$ 3,876	$ (7,645)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - Unaudited - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 111,439	$ 112,101	$ 337,472	$ 286,080
Unrealized investment gains (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) on available-for-sale securities	(13,796)	15,347	(52,669)	49,624
Reclassification adjustment for realized investment (gains) losses included in net income	(1,879)	(50)	(3,052)	3,128
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses)	(5,892)	6,312	6,490	(9,055)
Total other comprehensive income (loss) before income taxes	(21,567)	21,609	(49,231)	43,697
Income tax expense (benefit) related to items of other comprehensive income (loss)	(3,386)	3,265	(12,294)	11,557
Other comprehensive income (loss), net of income taxes	(18,181)	18,344	(36,937)	32,140
Total comprehensive income (loss)	93,258	130,445	300,535	318,220
Net income (loss) attributable to noncontrolling interests	(1,017)		(1,017)
Comprehensive income attributable to Primerica, Inc.	$ 94,275	$ 130,445	$ 301,552	$ 318,220

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) [Member]	Redeemable Noncontrolling Interests in Consolidated Entities/Temporary Stockholders' Equity [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]
Balance, beginning of period at Dec. 31, 2019		$ 412		$ 1,593,281	$ 58,798
Cumulative effect from the adoption of new accounting standards, net at Dec. 31, 2019							$ (1,240)
Repurchases of common stock		(21)	$ (23,212)	(200,511)
Share-based compensation			23,215
Net issuance of common stock		3	(3)
Net income (loss)	$ 286,080
Dividends				(48,496)
Change in foreign currency translation adjustment,net of income taxes					(9,055)
Change in net unrealized investment gains (losses) during the period, net of income taxes					41,195
Balance, end of period at Sep. 30, 2020	$ 1,720,446	394		1,629,114	90,938
Dividends declared per share	$ 1.20
Balance, beginning of period at Jun. 30, 2020		397		1,569,689	72,594
Repurchases of common stock		(3)	(4,759)	(36,794)
Share-based compensation			4,759
Net income (loss)	$ 112,101
Dividends				(15,882)
Change in foreign currency translation adjustment,net of income taxes					6,312
Change in net unrealized investment gains (losses) during the period, net of income taxes					12,032
Balance, end of period at Sep. 30, 2020	$ 1,720,446	394		1,629,114	90,938
Dividends declared per share	$ 0.40
Balance, beginning of period at Dec. 31, 2020	$ 1,835,885	393		1,705,786	129,706
Cumulative effect from the adoption of new accounting standards, net at Dec. 31, 2020	1,705,786
Repurchases of common stock			(6,993)
Share-based compensation			24,449
Net issuance of common stock		2	(2)
Net income (loss)	338,489
Dividends				(55,951)
Change in foreign currency translation adjustment,net of income taxes					6,490
Change in net unrealized investment gains (losses) during the period, net of income taxes					(43,427)
Acquisition of noncontrolling interest						$ 8,437
Net income (loss) attributable to noncontrolling interests	(1,017)					(1,017)
Change in noncontrolling interests in consolidated entities, net						211
Balance, end of period at Sep. 30, 2021	$ 2,098,942	395	17,454	1,988,324	92,769	7,631
Dividends declared per share	$ 1.41
Balance, beginning of period at Jun. 30, 2021		394	12,880	1,894,539	110,950
Repurchases of common stock			(87)
Share-based compensation			4,662
Net issuance of common stock		1	(1)
Net income (loss)	$ 112,456
Dividends				(18,671)
Change in foreign currency translation adjustment,net of income taxes					(5,892)
Change in net unrealized investment gains (losses) during the period, net of income taxes					(12,289)
Acquisition of noncontrolling interest						8,437
Net income (loss) attributable to noncontrolling interests	(1,017)					(1,017)
Change in noncontrolling interests in consolidated entities, net						211
Balance, end of period at Sep. 30, 2021	$ 2,098,942	$ 395	$ 17,454	$ 1,988,324	$ 92,769	$ 7,631
Dividends declared per share	$ 0.47

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 337,472	$ 286,080
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Change in future policy benefits and other policy liabilities	334,566	399,193
Deferral of policy acquisition costs	(422,194)	(377,610)
Amortization of deferred policy acquisition costs	182,604	170,979
Change in income taxes	(17,267)	(7,845)
Realized investment (gains) losses	(3,876)	7,645
Accretion and amortization of investments	3,798	779
Depreciation and amortization	19,691	12,486
Change in reinsurance recoverables	(2,426)	(69,774)
Change in agent balances, due premiums and other receivables	(10,957)	(53,815)
Change in renewal commissions receivable	(14,532)	(1,861)
Trading securities sold, matured, or called (acquired), net	(10,528)	29,582
Share-based compensation	14,834	15,737
Change in other operating assets and liabilities, net	23,936	(7,623)
Net cash provided by (used in) operating activities	435,121	403,953
Available-for-sale investments sold, matured or called:
Fixed-maturity securities — sold	99,401	62,925
Fixed-maturity securities — matured or called	340,074	335,053
Short-term investments — sold	10,089
Equity securities — sold	716	2,508
Available-for-sale investments acquired:
Fixed-maturity securities	(603,146)	(435,934)
Short-term investments	(50,902)
Equity securities — acquired	(2,898)	(179)
Purchases of property and equipment and other investing activities, net	(21,432)	(22,450)
Cash collateral received (returned) on loaned securities, net	33,110	20,160
Sales (purchases) of short-term investments using securities lending collateral, net	(33,110)	(20,160)
Purchase of business, net of cash acquired	(494,459)
Net cash provided by (used in) investing activities	(722,557)	(58,077)
Cash flows from financing activities:
Dividends paid	(55,951)	(48,496)
Common stock repurchased		(218,079)
Proceeds from revolving credit facility	125,000
Tax withholdings on share-based compensation	(6,573)	(5,666)
Finance leases	(201)	(209)
Net cash provided by (used in) financing activities	62,275	(272,450)
Effect of foreign exchange rate changes on cash	3,170	575
Change in cash and cash equivalents	(221,991)	74,001
Cash and cash equivalents, beginning of period	547,569	256,876
Cash and cash equivalents, end of period	325,578	$ 330,877
Non-cash financing activity:
Increases in note issued to seller of business	$ 15,000

Description of Business, Basis

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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 to middle-income households in the United States and Canada through a network of independent contractor sales representatives (“sales representatives” or “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. On July 1, 2021, we acquired 80% of e-TeleQuote Insurance, Inc. and subsidiaries (collectively, “e-TeleQuote”) through our recently formed subsidiary, Primerica Health, Inc. (“Primerica Health”). e-TeleQuote markets Medicare-related insurance products underwritten by third-party health insurance carriers to eligible Medicare participants through its licensed health insurance agents. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for more information regarding the acquisition of e-TeleQuote. Our other primary subsidiaries include the following entities: Primerica Financial Services, LLC (“PFS”), 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. (“PFSL Investments Canada”); and PFS Investments Inc. (“PFS Investments”), an investment products company and broker-dealer. Primerica Life, domiciled in Tennessee, owns National Benefit Life Insurance Company (“NBLIC”), a New York insurance company. Peach Re, Inc. (“Peach Re”) and Vidalia Re, Inc. (“Vidalia Re”) are special purpose financial captive insurance companies and wholly owned subsidiaries of Primerica Life. Peach Re and Vidalia Re have each entered into separate coinsurance agreements with Primerica Life whereby Primerica Life has ceded certain level-premium term life insurance policies to Peach Re and Vidalia Re (respectively, the “Peach Re Coinsurance Agreement” and 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 September 30, 2021 and December 31, 2020, the statements of income, comprehensive income, and stockholders’ equity for the three and nine months ended September 30, 2021 and 2020, and cash flows for the nine months ended September 30, 2021 and 2020. 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, 2020 (“2020 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”), future policy benefit reserves 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. 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. Changes to Accounting Policies . As a result of our acquisition of e-TeleQuote, we have updated our significant accounting policies for Business Combination, Goodwill, Intangible Assets, Noncontrolling Interest, Income Taxes, Commissions and Fees – Senior Health, and Renewal Commissions Receivable as described below. Business Combination . The Company acquired e-TeleQuote on July 1, 2021 and accounts for the acquisition as a business combination in accordance with ASC Topic 805, Business Combinations (“ASC 805”), which requires most identifiable assets and liabilities acquired in a business combination to be recorded at fair value at the acquisition date, subject to certain exceptions. Additionally, ASC 805 requires transaction-related costs to be expensed in the period incurred. The Company allocates the fair value of the purchase consideration of its acquired business to the tangible assets, liabilities assumed, and intangible assets acquired at the acquisition date. The excess of the fair value of purchase consideration over the acquired values of these identifiable assets and liabilities is recorded as goodwill. Transaction costs are recognized separately from the business combination and expensed as incurred. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for further details. Goodwill . Goodwill represents the excess of the purchase price over the estimated acquired values of identifiable assets and liabilities acquired in a business combination at the acquisition date. In accordance with U.S. GAAP, goodwill is not amortized. The Company will test goodwill for impairment annually beginning July 1, 2022 and whenever events occur or circumstances change that would indicate the carrying value of goodwill may be impaired. All of the Company’s goodwill was obtained from the e-TeleQuote acquisition and the e-TeleQuote business has been designated as a separate operating segment called Senior Health. Therefore, goodwill has been allocated solely to the Senior Health segment and will be evaluated for impairment at the Senior Health segment reporting unit level. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for goodwill recognized as part of the acquisition of e-TeleQuote. Intangible Assets. Intangible assets acquired from the acquisition of e-TeleQuote consist primarily of relationships with health insurance carriers, who are our customers, and are amortized over their estimated useful lives. The Company uses an estimated useful life of 15 years as our relationships with health insurance carriers are not expected to turn over rapidly because these relationships are in-depth, non-exclusive, and pay-for-performance. Intangible assets subject to amortization are evaluated for impairment in the event factors indicate that the net carrying value may not be recoverable or the asset will not be used throughout its estimated useful life. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for intangible assets identified as part of the acquisition of e-TeleQuote. Noncontrolling Interest. In connection with the Company’s acquisition of e-TeleQuote, the Company became a party along with the noncontrolling equity holders of Primerica Health to a shareholders’ agreement (the “e-TeleQuote Shareholders’ Agreement”) which, among other matters, sets forth certain call and put rights starting in 2022 as described in Note 14 (Acquisition) of the unaudited condensed consolidated financial statements . The e-TeleQuote Shareholder’s Agreement provides the Company with the right to purchase, and the noncontrolling equity holders with the right to sell to the Company, the noncontrolling equity holders’ equity interests in Primerica Health at a contractually defined formulaic purchase price (the “Formulaic Price”), which is based on a calculation of selected peer company equity value multiples times the trailing twelve months of adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”). The noncontrolling equity holders’ interests in Primerica Health are accounted for separately in two categories. The first category primarily represents shares of Primerica Health held in trust for the benefit of the founder and chief executive officer of e-TeleQuote. These shares, which were exchanged for equity originally issued in connection with the founding of e-TeleQuote, are recognized as redeemable noncontrolling interests (“Redeemable NCI”) in the temporary stockholders’ equity section of the accompanying unaudited condensed consolidated balance sheets as the Company has the option of redeeming the shares for cash or for the Company’s common stock at a value equivalent to the Formulaic Price. The second category primarily represents shares of Primerica Health beneficially owned by e-TeleQuote’s management, other than the founder, which were exchanged for equity originally obtained through share-based compensation arrangements. These shares are impacted by the beneficial owner’s continuing employment with e-TeleQuote post acquisition. The second category is recognized as liability-classified stock-based compensation (“Liability-classified Equity Shares”) subject to the provisions of ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). Redeemable Noncontrolling Interest. As of the acquisition date, the Redeemable NCI was recognized at fair value and significant inputs to the Formulaic Price included peer Company forward-looking earnings multiples and Primerica Health’s forecasted Adjusted EBITDA. Subsequent to the acquisition date, the Redeemable NCI is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the Formulaic Price or its carrying amount, which is adjusted for net income (loss) attributable to the Redeemable NCI. Adjustments to the carrying amount of the Redeemable NCI resulting from changes in the Formulaic Price are recorded through retained earnings in the accompanying unaudited condensed consolidated balance sheets. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for Redeemable NCI recognized as part of the acquisition of e-TeleQuote. Share-based T Liability-classified Equity Shares represent shares in Primerica Health obtained by e-TeleQuote’s management pursuant to share-based compensation arrangements. Such shares include exchanges of restricted stock awards granted to e-TeleQuote’s management prior to the acquisition by the Company. Liability-classified Equity Shares are recognized at fair value and significant inputs to the Formulaic Price used to estimate fair value include peer Company forward-looking earnings multiples and Primerica Health’s forecasted Adjusted EBITDA. A small portion of the Liability-classified Equity Shares vested as a result of the acquisition and will be recognized as compensation expense separate from the purchase consideration transferred on the acquisition date. Subsequent to the acquisition date, the fair value of the Liability-classified Equity Shares will be remeasured as of the balance sheet date with an adjustment to the compensation expense recognized through earnings. Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to: (i) differences between the financial statement carrying amounts of acquired assets and liabilities and their respective tax bases and (ii) acquired e-TeleQuote net operating loss and interest deduction carryforwards available for future use. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized subject to management’s judgment that realization is more-likely-than-not applicable to the periods in which we expect the temporary difference will reverse. The Company has not recognized any material deferred taxes associated with goodwill as it has not acquired any material goodwill with tax basis. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for deferred income taxes recognized as part of the acquisition of e- TeleQuote . Commissions and Fees – Senior Health. As a result of the acquisition of e-TeleQuote, the Company distributes Medicare-related insurance policies offered by third-party health insurance carriers to eligible Medicare participants. e-TeleQuote receives initial commissions from health insurance carriers, who are considered its customers, for enrollments in policies it has distributed as well as ongoing renewal commissions that coincide with the period an eligible Medicare participant remains enrolled in a policy after the first policy effective date (collectively, “Lifetime value of commissions” or “LTV”). Revenue is recognized at the point in time e-TeleQuote’s single performance obligation to health insurance carriers is satisfied, which is generally on the date the policy application is approved by the health insurance carrier. The expected commissions represent variable consideration that will not be resolved until after the performance obligation has been satisfied. The Company estimates variable consideration in the transaction price for policies it has distributed as the expected amount of initial and renewal commissions to be received over the life of the enrolled policy. Variable consideration is estimated by using a portfolio approach to policies grouped together by health insurance carrier, Medicare product type, and period the policy was approved by the health insurance carrier (referred to as a “cohort”). This approach to estimating the initial and renewal commissions expected to be collected involves the evaluation of various factors, including but not limited to, contracted commission rates, insurance carrier mix, disenrollment experience, and renewal persistency rates. Upon development of the estimate of expected renewal commissions using the portfolio approach, management applies a constraint so that it is probable that a subsequent change in estimate will not result in a significant revenue reversal. Management judgment is required to determine the inputs to these estimates and the inputs are established primarily based on historical activity. Variable consideration in excess of the amount constrained is recognized in subsequent reporting periods when the uncertainty is resolved. Refer to Note 13 (Revenue with Contracts with Customers) of the unaudited condensed consolidated financial statements for detail related to commissions and fees revenues recognized by e-TeleQuote. Renewal Commissions Receivable. Renewal commissions receivable are contract assets that represent the renewal portion of estimated constrained variable consideration recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers ( “ASC 606” ) . Renewal commissions receivable primarily consist of expected commissions to be collected by e-TeleQuote from the distribution of Medicare-related health insurance policies where the performance obligation has been satisfied but payment is not due as the underlying policy has not yet renewed. The estimate of renewal commissions requires significant judgment subject to the same assumptions as noted in Commissions and Fees-Senior Health section above. Cash collections for these receivables are expected to occur over a period of several years. Under ASC 606, these receivables are not discounted as the timing for collection of payments is dependent on future policyholder renewals and not due to the presence of a significant financing component. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for renewal commissions receivable recognized as part of the acquisition of e-TeleQuote. New Accounting Principles. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted the amendments in Topic 740 as of January 1, 2021, but concluded there was no impact on our unaudited condensed consolidated financial statements On October 28, 2021, the FASB issued Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Future Application of Accounting Standards. In August 2018, the FASB issued Accounting Standards Update No. 2018-12, Financial Services—Insurance (Topic 944) — Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update change accounting guidance for insurance companies that issue long-duration contracts, including term life insurance. ASU 2018-12 requires companies that issue long-duration insurance contracts to update assumptions used in measuring future policy benefits, including mortality, disability, and persistency, at least annually instead of locking those assumptions at contract inception and reflecting differences in assumptions and actual performance as the experience occurs. ASU 2018-12 also includes changes to how insurance companies that issue long-duration contracts amortize DAC and determine and update the discount rate assumptions used in measuring future policy benefits reserves while increasing the level of financial statement disclosures required. The guidance in ASU 2018-12 will be applied to the earliest period presented in the unaudited condensed consolidated financial statements beginning on the effective date , which is January 1, 2023. The adoption of ASU 2018-12 will have an impact on our consolidated financial statements and related disclosures and will require changes to certain of our processes, systems, and controls. We are currently working on processes that will allow us to obtain the requisite data, modify our valuation system, and develop key assumptions that will be necessary to evaluate and implement this standard. As such, we are unable to determine the magnitude of the impact ASU 2018-12 will have on our consolidated financial statements at this time. Recently-issued accounting guidance not discussed above is not applicable, is immaterial to our unaudited condensed 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	9 Months Ended
	Sep. 30, 2021
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 (as of July 1, 2021) 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Revenues: Term life insurance segment $ 401,451 $ 357,799 $ 1,167,016 $ 1,013,778 Investment and savings products segment 233,337 176,337 694,770 525,551 Senior health segment 22,936 N/A 22,936 N/A Corporate and other distributed products segment 35,515 34,325 100,916 79,884 Total revenues $ 693,239 $ 568,461 $ 1,985,638 $ 1,619,213 Net investment income: Term life insurance segment $ 9,320 $ 6,813 $ 26,324 $ 19,598 Investment and savings products segment - - - - Senior health segment - N/A - N/A Corporate and other distributed products segment 10,680 16,140 34,264 41,485 Total net investment income $ 20,000 $ 22,953 $ 60,588 $ 61,083 Amortization of DAC: Term life insurance segment $ 59,287 $ 45,529 $ 174,106 $ 164,099 Investment and savings products segment 2,580 1,667 7,641 6,072 Senior health segment - N/A - N/A Corporate and other distributed products segment 347 295 857 808 Total amortization of DAC $ 62,214 $ 47,491 $ 182,604 $ 170,979 Non-cash share-based compensation expense: Term life insurance segment $ 570 $ 566 $ 3,303 $ 3,031 Investment and savings products segment 665 635 2,532 2,397 Senior health segment - N/A - N/A Corporate and other distributed products segment (594 ) 1,018 8,999 10,309 Total non-cash share-based compensation expense $ 641 $ 2,219 $ 14,834 $ 15,737 Income (loss) before income taxes: Term life insurance segment $ 107,589 $ 105,315 $ 312,603 $ 283,110 Investment and savings products segment 69,368 51,372 203,885 145,931 Senior health segment (8,490 ) N/A (8,490 ) N/A Corporate and other distributed products segment (21,365 ) (10,204 ) (63,123 ) (53,951 ) Total income before income taxes $ 147,102 $ 146,483 $ 444,875 $ 375,090 Total assets by segment were as follows: September 30, 2021 December 31, 2020 (In thousands) Assets: Term life insurance segment $ 7,227,209 $ 6,985,086 Investment and savings products segment (1) 2,805,781 2,769,445 Senior health segment 620,470 N/A Corporate and other distributed products segment 5,162,675 5,150,754 Total assets $ 15,816,135 $ 14,905,285 (1) 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 and condensed consolidated statements of income, were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Revenues by country: United States $ 594,406 $ 488,216 $ 1,687,868 $ 1,384,215 Canada 98,833 80,245 297,770 234,998 Total revenues $ 693,239 $ 568,461 $ 1,985,638 $ 1,619,213 September 30, 2021 December 31, 2020 (In thousands) Long-lived assets by country: United States $ 58,593 $ 53,281 Canada 4,029 4,446 Other 223 - Total long-lived assets $ 62,845 $ 57,727

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Investments	(3) Investments Available-for-sale Securities. The period-end amortized cost, gross unrealized gains and losses, and fair value of available-for-sale securities were as follows: September 30, 2021 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 $ 11,154 $ 242 $ (33 ) $ 11,363 Foreign government 136,069 6,766 (757 ) 142,078 States and political subdivisions 152,065 6,658 (203 ) 158,520 Corporates 1,612,500 88,384 (5,749 ) 1,695,135 Residential mortgage-backed securities 311,622 6,927 (1,031 ) 317,518 Commercial mortgage-backed securities 146,278 4,869 (100 ) 151,047 Other asset-backed securities 118,158 1,956 (271 ) 119,843 Total fixed-maturity securities 2,487,846 115,802 (8,144 ) 2,595,504 Short-term investments 40,043 - (6 ) 40,037 Total fixed-maturity securities and short-term investments $ 2,527,889 $ 115,802 $ (8,150 ) $ 2,635,541 December 31, 2020 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 $ 9,747 $ 400 $ (3 ) $ 10,144 Foreign government 169,967 13,324 (39 ) 183,252 States and political subdivisions 161,058 9,632 (1 ) 170,689 Corporates 1,506,549 124,164 (2,545 ) 1,628,168 Residential mortgage-backed securities 261,376 11,419 (54 ) 272,741 Commercial mortgage-backed securities 107,020 5,901 (56 ) 112,865 Other asset-backed securities 85,521 1,816 (585 ) 86,752 Total fixed-maturity securities $ 2,301,238 $ 166,656 $ (3,283 ) $ 2,464,611 All of our available-for-sale mortgage- and asset-backed securities represent variable 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 available-for-sale fixed-maturity portfolio as of September 30, 2021 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 201,591 $ 206,190 Due after one year through five years 780,165 828,003 Due after five years through 10 years 667,949 697,828 Due after 10 years 262,083 275,075 1,911,788 2,007,096 Mortgage- and asset-backed securities 576,058 588,408 Total AFS fixed-maturity securities $ 2,487,846 $ 2,595,504 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 cost and fair value of the securities classified as trading securities were as follows: September 30, 2021 December 31, 2020 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 26,533 $ 26,251 $ 16,359 $ 16,300 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 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. The LLC Note is classified as a fixed-maturity held-to-maturity security in the Company’s invested asset portfolio as we have the positive intent and ability to hold the security until maturity. As of September 30, 2021, the LLC Note had an estimated unrealized holding gain of $189.0 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 12 (Debt) for more information on the Surplus Note. As of September 30, 2021, no credit losses have been recognized on the LLC Note held-to-maturity security. 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 values of investments on deposit were $7.6 million and $7.7 million as of September 30, 2021 and December 31, 2020, 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 $105.3 million and $72.2 million as of September 30, 2021 and December 31, 2020, respectively. Investment Income. The components of net investment income were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Fixed-maturity securities (available-for-sale) $ 19,860 $ 20,883 $ 60,035 $ 61,880 Fixed-maturity security (held-to-maturity) 15,741 14,704 46,382 42,250 Equity securities 413 433 1,216 1,345 Policy loans and other invested assets 289 242 618 973 Cash and cash equivalents 96 114 371 1,099 Total return on deposit asset underlying 10% coinsurance agreement (1) 346 2,858 1,989 1,962 Gross investment income 36,745 39,234 110,611 109,509 Investment expenses (1,004 ) (1,577 ) (3,641 ) (6,176 ) Investment income net of investment expenses 35,741 37,657 106,970 103,333 Interest expense on surplus note (15,741 ) (14,704 ) (46,382 ) (42,250 ) Net investment income $ 20,000 $ 22,953 $ 60,588 $ 61,083 (1) For the three and nine months ended September 30, 2021, included $(0.6) million and $(1.6) million, respectively, of net losses recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement. For the three and nine months ended September 30, 2020, included $1.2 million and $(2.9) million, respectively, of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement. The components of net realized investment gains (losses) recognized in net income as well as details on gross realized investment gains and losses were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Net realized investment gains (losses): Gross gains from sales of available-for-sale securities $ 1,801 $ 632 $ 5,780 $ 1,816 Gross losses from sales of available-for-sale securities (71 ) (559 ) (2,018 ) (675 ) Credit gains (losses) on available-for-sale securities 149 (23 ) (710 ) (4,269 ) Net gains (losses) recognized in net income during the period on equity securities (418 ) 573 1,117 (4,552 ) Gains (losses) from bifurcated options 1 26 (48 ) 42 Gains (losses) on trading securities (52 ) (7 ) (245 ) (7 ) Net realized investment gains (losses) $ 1,410 $ 642 $ 3,876 $ (7,645 ) The proceeds from sales or other redemptions of available-for-sale securities were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Proceeds from sales or other redemptions $ 135,393 $ 122,148 $ 449,564 $ 397,978 The components of net gains (losses) recognized in net income on equity securities still held as of period-end were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Net gains (losses) recognized in net income during the period on equity securities $ (418 ) $ 573 $ 1,117 $ (4,552 ) Less: Net gains (losses) recognized on equity securities sold - (59 ) - (250 ) Net gains (losses) recognized in net income on equity securities still held as of period-end $ (418 ) $ 632 $ 1,117 $ (4,302 ) Accrued Interest. Accrued interest is recorded in accordance with the original 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 any remaining accrued interest will be written off. As a result, the Company has made the policy election to not record an allowance for credit losses on accrued interest. Credit Losses for Available-for-sale Securities. The following table summarize all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of September 30, 2021, aggregated by major security type and length of time such securities have continuously been in an unrealized loss position: September 30, 2021 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,706 $ (14 ) $ 1,580 $ (19 ) Foreign government 19,772 (641 ) 1,021 (116 ) States and political subdivisions 13,584 (203 ) - - Corporates 225,198 (4,077 ) 23,761 (1,672 ) Residential mortgage-backed securities 143,056 (1,026 ) 414 (5 ) Commercial mortgage-backed securities 20,290 (99 ) 128 (1 ) Other asset-backed securities 44,754 (199 ) 4,132 (72 ) Total fixed-maturity securities 468,360 (6,259 ) 31,036 (1,885 ) Short-term investments: U.S. government and agencies 40,037 (6 ) - - Total short-term investments 40,037 (6 ) - - Total fixed-maturity securities and short-term investments $ 508,397 $ (6,265 ) $ 31,036 $ (1,885 ) December 31, 2020 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,619 $ (3 ) $ - $ - Foreign government 4,034 (39 ) - - States and political subdivisions 449 (1 ) - - Corporates 68,057 (1,628 ) 11,964 (917 ) Residential mortgage-backed securities 1,672 (35 ) 862 (19 ) Commercial mortgage-backed securities 10,200 (50 ) 2,168 (6 ) Other asset-backed securities 11,988 (536 ) 3,150 (49 ) Total fixed-maturity securities $ 98,019 $ (2,292 ) $ 18,144 $ (991 ) The amortized cost of available-for-sale fixed-maturity securities with a cost basis in excess of their fair values were $547.6 million and $119.4 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, we did not recognize credit losses in the unaudited condensed consolidated statements of income on available-for-sale securities with unrealized losses that were due to interest rate sensitivity and changes in credit spreads. We believe that fluctuations caused by movement in interest rates and credit spreads generally have little bearing on the recoverability of our investments. For those that remain in an unrealized loss position we have the ability to hold these investments until maturity or a market price recovery, and we have no present intention to dispose them. For the three and nine months ended September 30, 2021, we recorded a total of $(0.1) million and $0.7 million, respectively, and for the three and nine months ended September 30, 2020, we recorded less than $0.1 million and $4.3 million, respectively, for credit (gains) losses in the unaudited condensed consolidated statements of income on available-for-sale securities. Of these credit (gains) losses, there were no adjustments made to the amortized cost basis for the three and nine months ended September 30, 2021 and three months ended September 30, 2020. For the nine months ended September 30, 2020, approximately $3.8 million of the credit losses were recorded as an adjustment to amortized costs due to our intent to sell securities of specific issuers that operate in distressed industry sectors. We recognized credit losses on The rollforward of the allowance for credit losses on available-for-sale securities were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Allowance for credit losses, beginning of period $ 858 $ 465 $ - $ - Additions to the allowance for credit losses on securities for which credit losses were not previously recorded 6 - 160 525 Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (154 ) 23 550 (37 ) Write-offs charged against the allowance, if any - (465 ) - (465 ) Allowance for credit losses, end of period $ 710 $ 23 $ 710 $ 23 Derivatives. We carry 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 September 30, 2021 and December 31, 2020. 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	9 Months Ended
	Sep. 30, 2021
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 primarily include: cash equivalents and short-term investments in 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 primarily 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: September 30, 2021 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 11,363 $ - $ 11,363 Foreign government - 142,078 - 142,078 States and political subdivisions - 158,520 - 158,520 Corporates 5,848 1,689,287 - 1,695,135 Mortgage- and asset-backed securities: Residential mortgage-backed securities - 317,491 27 317,518 Commercial mortgage-backed securities - 151,047 - 151,047 Other asset-backed securities - 119,843 - 119,843 Total available-for-sale fixed-maturity securities 5,848 2,589,629 27 2,595,504 Short-term investments - 40,037 - 40,037 Total available-for-sale securities 5,848 2,629,666 27 2,635,541 Equity securities 36,107 1,088 3,751 40,946 Trading securities - 26,251 - 26,251 Cash and cash equivalents 325,578 - - 325,578 Separate accounts - 2,672,606 - 2,672,606 Total fair value assets $ 367,533 $ 5,329,611 $ 3,778 $ 5,700,922 Fair value liabilities: Separate accounts $ - $ 2,672,606 $ - $ 2,672,606 Total fair value liabilities $ - $ 2,672,606 $ - $ 2,672,606 December 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,144 $ - $ 10,144 Foreign government - 183,252 - 183,252 States and political subdivisions - 170,689 - 170,689 Corporates 6,074 1,622,094 - 1,628,168 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 272,714 27 272,741 Commercial mortgage-backed securities - 112,865 - 112,865 Other asset-backed securities - 86,752 - 86,752 Total available-for-sale securities 6,074 2,458,510 27 2,464,611 Equity securities 34,910 1,093 2,020 38,023 Trading securities - 16,300 - 16,300 Cash and cash equivalents 285,074 262,495 - 547,569 Separate accounts - 2,659,520 - 2,659,520 Total fair value assets $ 326,058 $ 5,397,918 $ 2,047 $ 5,726,023 Fair value liabilities: Separate accounts $ - $ 2,659,520 $ - $ 2,659,520 Total fair value liabilities $ - $ 2,659,520 $ - $ 2,659,520 In estimating fair value of our investments, we use third-party pricing services for 99% 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 September 30, Nine months ended September 30, (1) 2021 2020 2021 2020 (In thousands) Level 3 assets, beginning of period $ 3,336 $ 5,268 $ 2,047 $ 585 Net unrealized gains (losses) included in other comprehensive income 1 - 1 2 Realized gains (losses) and accretion (amortization) recognized in earnings (125 ) (444 ) (359 ) (452 ) Purchases 2,068 2,999 3,067 2,999 Settlements (1 ) (4,624 ) (2,191 ) (4,970 ) Transfers into Level 3 - - 2,714 5,035 Transfers out of Level 3 (1,501 ) - (1,501 ) - Level 3 assets, end of period $ 3,778 $ 3,199 $ 3,778 $ 3,199 (1) Activities for investments that enter Level 3 in one quarter and exit Level 3 in another quarter within the same fiscal year are not eliminated until year-end when only the full year amounts are presented. 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 and nine months ended September 30, 2021 and 2020. The carrying values and estimated fair values of our financial instruments were as follows: September 30, 2021 December 31, 2020 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,595,504 $ 2,595,504 $ 2,464,611 $ 2,464,611 Fixed-maturity security (held-to-maturity) (3) 1,376,090 1,565,048 1,346,350 1,606,208 Short-term investments (available-for-sale) 40,037 40,037 - - Equity securities 40,946 40,946 38,023 38,023 Trading securities 26,251 26,251 16,300 16,300 Policy loans (3) 28,079 28,079 30,199 30,199 Deposit asset underlying 10% coinsurance agreement (3) 233,307 233,307 236,865 236,865 Separate accounts 2,672,606 2,672,606 2,659,520 2,659,520 Liabilities: Senior notes (1) (2) $ 374,702 $ 387,424 $ 374,415 $ 399,377 Surplus note (1) (3) 1,375,559 1,558,422 1,345,772 1,596,599 Separate accounts 2,672,606 2,672,606 2,659,520 2,659,520 (1) Carrying value amounts shown are net of issuance costs (2) Classified as a Level 2 fair value measurement. (3) Classified as a Level 3 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 Sheet. 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. The carrying value for other debt obligations, which includes the Revolving Credit Facility (See Note 12 (Debt) for more information), also approximates fair value as the interest rate resets on a short-term basis. Consequently, such financial instruments are not included in the above table.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2021
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: September 30, 2021 December 31, 2020 (Dollars in thousands) Direct life insurance in-force $ 896,476,313 $ 861,392,223 Amounts ceded to other companies (770,716,926 ) (742,356,917 ) Net life insurance in-force $ 125,759,387 $ 119,035,306 Percentage of reinsured life insurance in-force 86 % 86 % Benefits and claims ceded to reinsurers during the three and nine months ended September 30, 2021 were $486.7 million and $1,474.6 million, respectively, compared to $399.7 million and $1,209.3 million, respectively, for the three and nine months ended September 30, 2020. Reinsurance recoverables as of September 30, 2021 and December 31, 2020 include ceded reserve balances, ceded claim liabilities, and ceded claims paid. Reinsurance recoverables and financial strength ratings by reinsurer were as follows: September 30, 2021 December 31, 2020 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Pecan Re Inc. (1) (2) $ 2,592,296 NR $ 2,654,698 NR SCOR Global Life Reinsurance Companies (3) 419,469 A+ 395,804 A+ Munich Re of Malta (2) (5) 278,165 NR 285,350 NR Swiss Re Life & Health America Inc. (4) 259,970 A+ 251,409 A+ American Health and Life Insurance Company (2) 160,524 B++ 163,082 B++ Munich American Reassurance Company 142,830 A+ 137,312 A+ RGA Reinsurance 139,074 A+ 125,492 A+ Korean Reinsurance Company 129,953 A 123,568 A Hannover Life Reassurance Company 48,544 A+ 41,201 A+ TOA Reinsurance Company 40,163 A 34,212 A All other reinsurers 74,935 - 68,920 - Allowance for credit losses (7,601 ) (7,144 ) Reinsurance recoverables $ 4,278,322 $ 4,273,904 NR – not rated (1) (2) Reinsurance recoverables includes 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 recoverables from other reinsurers. Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables. (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. (5) We estimate and recognize lifetime expected credit losses for reinsurance recoverables. In estimating the allowance for expected 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 current expected credit loss allowance. The rollforward of the allowance for credit losses on reinsurance recoverables were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Balance, beginning of period $ 7,654 $ 5,602 $ 7,144 $ 3,917 Current period provision for expected credit losses - - 510 1,685 Less: Recoveries from expected credit losses previously recorded (53 ) (8 ) (53 ) (8 ) Balance, at the end of period $ 7,601 $ 5,594 $ 7,601 $ 5,594

Policy Claims and Other Benefit

Policy Claims and Other Benefits Payable	9 Months Ended
	Sep. 30, 2021
Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense [Abstract]
Policy Claims and Other Benefits Payable	(6) Policy Claims and Other Benefits Payable Changes in policy claims incurred and other benefits payable were as follows: Nine months ended September 30, 2021 2020 (In thousands) Policy claims and other benefits payable, beginning of period $ 519,711 $ 339,954 Less reinsured policy claims and other benefits payable 545,857 388,797 Net balance, beginning of period (26,146 ) (48,843 ) Incurred related to current year 207,542 171,485 Incurred related to prior years (1) (121 ) (4,145 ) Total incurred 207,421 167,340 Claims paid related to current year, net of reinsured policy claims received (276,730 ) (208,117 ) Reinsured policy claims received related to prior years, net of claims paid 36,439 60,355 Total paid (240,291 ) (147,762 ) Foreign currency translation 44 (165 ) Net balance, end of period (58,972 ) (29,430 ) Add reinsured policy claims and other benefits payable 616,097 497,039 Balance, end of period $ 557,125 $ 467,609 (1) 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 new trends and conditions, and reported lag time experience.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders Equity Note [Abstract]
Stockholders' Equity	(7) Stockholders’ Equity A reconciliation of the number of shares of our common stock follows: Nine months ended September 30, 2021 2020 (In thousands) Common stock, beginning of period $ 39,306 $ 41,207 Shares issued for stock options exercised 10 - Shares of common stock issued upon lapse of restricted stock units (“RSUs”) 204 287 Common stock retired (49 ) (2,120 ) Common stock, end of period $ 39,471 $ 39,374 The above reconciliation excludes RSUs and performance-based stock units (“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 September 30, 2021, we had a total of 269,745 RSUs and 73,062 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 issued could be higher or lower based on actual versus targeted performance. See Note 9 (Share-Based Transactions) for discussion of the PSU award structure. On February 9, 2021, our Board of Directors authorized a share repurchase program (“Share Repurchase Program”) for up to $300.0 million of our outstanding common stock for purchases through June 30, 2022. We are under no obligation to repurchase shares under the Share Repurchase Program. There were no repurchases during the quarter and, as a result, $300.0 million remains available for repurchases of our outstanding common stock under the Share Repurchase Program as of September 30, 2021.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	(8) Earnings Per Share The Company has outstanding common stock and equity awards that consist of RSUs, PSUs and stock options. 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 also deduct from the numerator any periodic adjustments recognized when the redemption value of Redeemable NCI exceeds its carrying value as discussed in Note 1 (Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies). 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income attributable to Primerica, Inc. $ 112,456 $ 112,101 $ 338,489 $ 286,080 Income attributable to unvested participating securities (458 ) (493 ) (1,403 ) (1,239 ) Net income used in calculating basic EPS $ 111,998 $ 111,608 $ 337,086 $ 284,841 Denominator: Weighted-average vested shares 39,561 39,588 39,516 40,281 Basic EPS $ 2.83 $ 2.82 $ 8.53 $ 7.07 Diluted EPS: Numerator: Net income attributable to Primerica, Inc. $ 112,456 $ 112,101 $ 338,489 $ 286,080 Income attributable to unvested participating securities (457 ) (492 ) (1,399 ) (1,236 ) Net income used in calculating diluted EPS $ 111,999 $ 111,609 $ 337,090 $ 284,844 Denominator: Weighted-average vested shares 39,561 39,588 39,516 40,281 Dilutive effect of incremental shares to be issued for contingently-issuable shares 118 122 121 115 Weighted-average shares used in calculating diluted EPS 39,679 39,710 39,637 40,396 Diluted EPS $ 2.82 $ 2.81 $ 8.50 $ 7.05

Share-Based Transactions

Share-Based Transactions	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Transactions	(9) Share-Based Transactions The Company has outstanding equity awards under the Primerica, Inc. Second Amended and Restated 2010 Omnibus Incentive Plan (“2010 OIP”), which expired in 2020 in accordance with its terms and under which no future awards will be made, and the Primerica, Inc. 2020 Omnibus Incentive Plan (the “2020 OIP”, and together with the 2010 OIP, 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 served on our Board of Directors, and sales force leaders. For more information on equity awards granted under the OIP, see Note 14 (Share-Based Transactions) to our consolidated financial statements within our 2020 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Equity awards expense recognized $ 2,369 $ 2,219 $ 16,561 $ 15,737 Equity awards expense deferred 2,048 2,542 7,227 7,501 On February 24, 2021, 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: • 73,705 RSUs awarded to management with a measurement-date fair value of $143.04 per unit that have time-based vesting requirements with equal and annual graded vesting over approximately three years subsequent to the grant date. • 21,845 PSUs awarded under the 2020 OIP to our four top executives with a measurement-date fair value of $143.04 per unit. The PSUs will be earned on March 1, 2024 contingent upon the Company achieving a targeted annual average three-year All awards granted to employees on February 24, 2021 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 issued for a retirement eligible employee is equal to the amount calculated using the Company’s actual cumulative three-year ROAE and average EPS growth, if applicable, for the relevant performance period ending on December 31, 2023, even if that employee retires prior to the completion of the three-year performance period. We also recognize equity award expense for shares in Primerica Health that were exchanged as part of the acquisition of e-TeleQuote. During the three and nine months ended September 30, 2021, we recognized a net decrease in equity awards expense of approximately $1.0 million, primarily related to the mark to fair value for Liability-classified Equity Shares. Refer to Note 1 (Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies) for further explanation on the Liability-classified Equity Shares.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	(10) Commitments and Contingent Liabilities Letter of Credit (“LOC”). Peach Re maintains a credit facility agreement with Deutsche Bank (the “Credit Facility Agreement”) to support certain obligations for a portion of the Regulation XXX reserves related to the Peach Re Coinsurance Agreement. Under the Credit Facility Agreement, Deutsche Bank issued a letter of credit for the benefit of Primerica Life with a term expiring on December 31, 2025. As of September 30, 2021, the amount of the LOC outstanding was $166.4 million. This amount will decline over the remaining term of the LOC to correspond with declines in the Regulation XXX reserves. As of September 30, 2021, the Company was in compliance with all financial covenants under the Credit Facility Agreement. Further discussion on the Company’s letter of credit is included in Note 16 (Commitments and Contingent Liabilities) to our consolidated financial statements within our 2020 Annual Report. 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 unless otherwise indicated.

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Other Comprehensive Income	(11) 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) before income taxes $ (5,892 ) $ 6,312 $ 6,490 $ (9,055 ) Income tax expense (benefit) on unrealized foreign currency translation gains (losses) - - - - Change in unrealized foreign currency translation gains (losses), net of income taxes $ (5,892 ) $ 6,312 $ 6,490 $ (9,055 ) Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period before income taxes $ (13,796 ) $ 15,347 $ (52,669 ) $ 49,624 Income tax expense (benefit) on unrealized holding gains (losses) arising during period (2,991 ) 3,276 (11,653 ) 10,900 Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes (10,805 ) 12,071 (41,016 ) 38,724 … Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities (1,879 ) (50 ) (3,052 ) 3,128 Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income (395 ) (11 ) (641 ) 657 Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes (1,484 ) (39 ) (2,411 ) 2,471 Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment $ (12,289 ) $ 12,032 $ (43,427 ) $ 41,195

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	(12) Debt Senior Notes. As of September 30, 2021, the Company had $375.0 million of publicly-traded, senior unsecured notes (the “Senior Notes”), with an annual interest rate of 4.75% that are scheduled to mature on July 15, 2022. As of September 30, 2021, we were in compliance with the covenants of the Senior Notes. No events of default occurred on the Senior Notes during the three and nine months ended September 30, 2021. Further discussion on the Company’s Senior Notes is included in Note 10 (Debt) to our consolidated financial statements within our 2020 Annual Report. Notes Issued to Seller of Business. On July 1, 2021, as part of the acquisition of e-TeleQuote, Primerica Health issued a $15.0 million unsecured, subordinated note, guaranteed by the Parent Company, to Etelequote Limited’s (“Etelequote Bermuda”) majority shareholder (the “Majority Shareholder Note”). The Majority Shareholder Note matures and is payable in cash on July 1, 2022. The rate of interest payable is 1.5% per annum. Due to the short maturity of the Majority Shareholder Note, its fair value approximates its carrying value. Surplus Note. As of September 30, 2021, 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 amount of both the Surplus Note and the LLC Note will fluctuate 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%. Based on the estimated reserves for policies issued in 2011 through 2017 that have been ceded under the Vidalia Re Coinsurance Agreement, the principal amounts of the Surplus Note and the LLC Note are expected to reach $1.5 billion each. 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. On June 22, 2021, we amended and restated our 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 LIBOR rate loan, or a base rate loan. LIBOR rate loans bear interest at a periodic rate equal to one-, three-, six-, or 12-month LIBOR, plus an applica ble 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 LIBOR plus 1 .00 %, plus an applicable margin. The Revolving Credit Facility contains language providing for a benchmark replacement in the event that LIBOR is no longer available. 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 LIBOR rate loans and letters of credit ranging from 1.00% to 1.625% per annum and for base rate loans ranging from 0.00% 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 0.10% 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 . As of September 30, 2021 , $ million was drawn under the Revolving Credit Facility. As of September 30, 2021, we were in compliance with the covenants of the Revolving Credit Facility. Furthermore, no events of default have occurred under the Revolving Credit Facility in the three and nine months ended September 30, 2021 .

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue from Contract with Customers	(13) 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; • 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; • Marketing development revenue earned for selling Medicare-related insurance products on behalf of health insurance carriers, which is recorded in Other, net revenue; • Fees associated with 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 (“POL”), 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 other than those discussed above are included in Note 18 (Revenue from Contracts with Customers) to our consolidated financial statements within our 2020 Annual Report. Discussion of e-TeleQuote’s revenues from contracts with customers and revenue recognition policies is below. Commissions and fees earned from the distribution of Medicare-related insurance products on behalf of health insurance carriers. As a result of the acquisition of e-TeleQuote, the Company distributes Medicare-related insurance policies to eligible Medicare participants offered by third-party health insurance carriers. e-TeleQuote receives initial commissions and renewal commissions from health insurance carriers for enrollments in policies it has distributed. The Company recognizes commission revenue in accordance with the following five steps outlined in ASC 606 • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the Company satisfies a performance obligation. The Company’s customers are the health insurance carriers that it contracts with to distribute Medicare-related insurance policies on their behalf. The Company reviews each contract with customers to determine what promises the Company must deliver and which of these promises are capable of being distinct in the context of the contract. The identification and delivery of new policyholders to the health insurance carriers is the only material promise specified within the contracts. After a policy is approved by the health insurance carrier, the Company has no material additional or recurring obligations to the policyholder or the health insurance carrier. The Company’s performance obligation is complete when a health insurance carrier has received and approved an insurance application. The Company’s contracts do not include downstream policyholder activities such as claims support or payment collection services. The transaction price is identified as the first-year commission due upon the initial approv al of a policy as well as an estimate of renewal commission, which we define collectively as the Lifetime value of commissions. Commissions earned are determined based on the health insurance carrier, where the insured is based, and the month in which the policy becomes effective. The commissions are based on contractually agreed upon rate cards for which guidance and ranges are set by the regulatory body – Centers for Medicare and Medicaid Services ( “CMS”). To estimate LTV, the Company utilizes the expected value approach. This approach incorporates historical lapse experience and effective commission rates, an estimate of chargebacks for paid policies that are disenrolled in the first policy year, and forecasted renewal commissions. The estimate of initial and renewal commissions is considered variable consideration and requires significant judgment in determining the number of approved policies that will become disenrolled and the number of periods in which policyholders will remain enrolled. We apply a constraint on our estimate of renewal commissions based on historical experience so that it is probable that a significant reversal in the amount of cumulative revenue will not occur. The uncertainty associated with the variable consideration is subsequently resolved each period the policy remains enrolled or renews. The Company recognizes the expected Lifetime value of commission revenue by applying the use of a portfolio approach to policies grouped together by the health insurance carrier, Medicare product type, and period the policy was approved by the health insurance carrier (referred to as a “cohort”). This approach to estimating the commissions expected to be collected for each cohort involves the evaluation of various factors, including but not limited to, contracted commission rates, insurance carrier mix, disenrollment experience, and renewal persistency rates. We recognize revenue for approved applications during the period by applying the latest estimated constrained LTV. We recognize adjustments to revenue for approved applications in prior periods when our cash collections are different from the estimated constrained LTVs. Adjustments to revenue occur when actual cash collections have indicated a trend that is different from the estimated constrained LTV for the revenue at the time of approval. Adjustments to revenue can be positive or negative and we recognize positive adjustments to revenue when we do not believe it is probable that a significant reversal of cumulative revenue will occur. Disaggregation of Revenue from Contracts with Customers. The disaggregation of our revenues from contracts with customers were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Term Life Insurance segment revenues: Other, net $ 12,476 $ 12,717 $ 36,601 $ 34,311 Total segment revenues from contracts with customers 12,476 12,717 36,601 34,311 Revenues from sources other than contracts with customers 388,975 345,082 1,130,415 979,467 Total Term Life Insurance segment revenues $ 401,451 $ 357,799 $ 1,167,016 $ 1,013,778 Investment and Savings Products segment revenues: Commissions and fees Sales-based revenues $ 95,229 $ 65,600 $ 298,057 $ 209,304 Asset-based revenues 97,184 71,970 275,084 203,629 Account-based revenues 21,456 21,008 64,424 61,690 Other, net 3,094 3,034 9,001 8,322 Total segment revenues from contracts with customers 216,963 161,612 646,566 482,945 Revenues from sources other than contracts with customers (segregated funds) 16,374 14,725 48,204 42,606 Total Investment and Savings Products segment revenues $ 233,337 $ 176,337 $ 694,770 $ 525,551 Senior Health segment revenues: Commissions and fees $ 21,558 N/A $ 21,558 N/A Other, net 1,378 N/A 1,378 N/A Total Senior Health segment revenues $ 22,936 N/A $ 22,936 N/A Corporate and Other Distributed Products segment revenues: Commissions and fees $ 17,995 $ 11,999 $ 47,202 $ 29,930 Other, net 1,103 923 2,978 2,742 Total segment revenues from contracts with customers 19,098 12,922 50,180 32,672 Revenues from sources other than contracts with customers 16,417 21,403 50,736 47,212 Total Corporate and Other Distributed Products segment revenues $ 35,515 $ 34,325 $ 100,916 $ 79,884 Renewal Commissions Receivable. For revenue associated with ongoing renewal commissions in our 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. Activity in the Renewal commissions receivable account was as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Senior Health segment: Balance, beginning of period $ - N/A $ - N/A Contract balances acquired as part of business combination 199,575 N/A 199,575 N/A Commissions revenue 16,526 N/A 16,526 N/A Less: collections (6,842 ) N/A (6,842 ) N/A Balance, at the end of period $ 209,259 N/A $ 209,259 N/A Corporate and Other Distributed Products segments: Balance, beginning of period $ 56,683 $ 52,523 $ 54,845 $ 51,701 Commissions revenue 8,810 6,618 21,969 18,435 Less: collections (5,800 ) (5,579 ) (17,121 ) (16,574 ) Balance, at the end of period $ 59,693 $ 53,562 $ 59,693 $ 53,562 No significant estimate adjustments were made to renewal commissions receivable during the three and nine months ended September 30, 2021 and 2020. 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.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Acquisition	(14) Acquisition On July 1, 2021, the Company acquired an 80% interest, as described in the next paragraph, in the operating subsidiaries of Etelequote Bermuda, including e-TeleQuote, a Florida corporation that is a senior health insurance distributor of Medicare-related insurance policies in all 50 states and Puerto Rico (the “Acquisition”). The Company’s recently formed subsidiary, Primerica Health, purchased from the shareholders of Etelequote Bermuda (the “selling shareholders”) 100% of the issued and outstanding capital stock of e-TeleQuote and its subsidiaries for consideration of (i) approximately $350 million in cash, (ii) replacement of e-TeleQuote’s debt as of the closing date of $146 million with intercompany funding provided by the Parent Company, (iii) a $15 million Majority Shareholder Note and (iv) common shares of Primerica Health constituting 20% of the total issued and outstanding shares of capital stock of Primerica Health that were issued to Etelequote Bermuda’s minority shareholders, most of which include or are beneficially owned by e-TeleQuote’s management (“Noncontrolling Equity Holders”). Under the terms of the e-TeleQuote Shareholders’ Agreement, the Parent Company will purchase the remaining 20% stake over a period of up to four years through a series of call and put rights. The following table presents the preliminary purchase price allocation recorded in the Company’s unaudited condensed consolidated balance sheets as of the acquisition date, which is subject to finalization for estimates of the assets acquired and liabilities assumed as of the acquisition date, including but not limited to tangible assets, intangible assets and tax-related items, and the related tax effects of any changes made: Preliminary Purchase Price Allocation (In thousands) Assets: Cash and cash equivalent $ 1,080 Accounts receivables 692 Renewal commissions receivable 199,575 Other assets 15,705 Intangible assets 162,000 Goodwill 224,180 Total assets 603,232 Liabilities: Accounts payable and accrued expenses 8,785 Deferred tax liability 65,425 Other liabilities 10,046 Total liabilities 84,256 Net assets acquired $ 518,976 Temporary Stockholders' Equity: Redeemable noncontrolling interests $ 8,437 Total temporary stockholders' equity $ 8,437 Intangible assets identified in the acquisition of the business are capitalized separately from goodwill if the fair value can be measured reliably on initial recognition (transaction date). The primary intangible assets identified were customer relationships with health insurance carriers of $159.0 million with an estimated useful life of 15 years. The Company will amortize the intangible assets acquired on a straight-line basis over their estimated useful lives. Goodwill is calculated as the difference between the acquisition date fair value of the total consideration transferred and the aggregate values assigned to the assets acquired and liabilities assumed. The goodwill created in the acquisition is not deductible for tax purposes. The Company tests goodwill for impairment on an annual basis and whenever events occur or circumstances change that would indicate the carrying value of goodwill may be impaired. All of the Company’s goodwill was obtained as a result of the e-TeleQuote acquisition, which has been designated as a separate operating segment called Senior Health. Therefore, goodwill has been allocated solely to the Senior Health segment and will be evaluated for impairment at the Senior Health segment level. The Company will perform the annual goodwill impairment assessment as of July 1, 2022. Included in Other liabilities is the portion of the fair value of the Liability-classified Equity Shares not subject to forfeiture, which was estimated to be approximately $3 million as of the July 1, 2021 acquisition date. Transaction costs related to the e-TeleQuote acquisition included within Other operating expenses on the unaudited condensed consolidated statements of income were $10.0 million and $12.1 million, respectively, for the three and nine months ended September 30, 2021. The following unaudited summary represents e-TeleQuote’s actual statements of income for the three and nine months of September 30, 2021: Three and nine months ended September 30, 2021 (in thousands) Revenue $ 22,936 Net income (loss) (7,349 ) The following unaudited pro forma consolidated financial information combines the unaudited results of the Company for the three and nine months ended September 30, 2021 and 2020 and the unaudited results of e-TeleQuote for the three and nine months ended September 30, 2021 and 2020, and assumes that the e-TeleQuote acquisition, which closed on July 1, 2021, was completed on January 1, 2020 (the first day of fiscal year 2020). The pro forma consolidated financial information has been calculated after applying adjustments for amortization expense of acquired intangible assets and the consequential tax effect. These pro forma results have been prepared for comparative purpose only and do not purport to be indicative of the operating results of the Company that would have been achieved had the e-TeleQuote acquisition actually taken place on January 1, 2020. In addition, these results are not intended to project future results and do not reflect events that may occur after September 30, 2021 including, but not limited to, revenue enhancements, cost savings or operating synergies that the Company may achieve as a result of the e-TeleQuote acquisition. Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (in thousands) Revenue $ 693,240 $ 598,272 $ 2,050,898 $ 1,711,256 Net income (loss) 108,873 107,806 326,770 288,017

Description of Business, Basi_2

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and December 31, 2020, the statements of income, comprehensive income, and stockholders’ equity for the three and nine months ended September 30, 2021 and 2020, and cash flows for the nine months ended September 30, 2021 and 2020. 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, 2020 (“2020 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”), future policy benefit reserves 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.
Reclassifications	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.
Changes to Accounting Policies	Changes to Accounting Policies . As a result of our acquisition of e-TeleQuote, we have updated our significant accounting policies for Business Combination, Goodwill, Intangible Assets, Noncontrolling Interest, Income Taxes, Commissions and Fees – Senior Health, and Renewal Commissions Receivable as described below.
Business Combination	Business Combination . The Company acquired e-TeleQuote on July 1, 2021 and accounts for the acquisition as a business combination in accordance with ASC Topic 805, Business Combinations (“ASC 805”), which requires most identifiable assets and liabilities acquired in a business combination to be recorded at fair value at the acquisition date, subject to certain exceptions. Additionally, ASC 805 requires transaction-related costs to be expensed in the period incurred. The Company allocates the fair value of the purchase consideration of its acquired business to the tangible assets, liabilities assumed, and intangible assets acquired at the acquisition date. The excess of the fair value of purchase consideration over the acquired values of these identifiable assets and liabilities is recorded as goodwill. Transaction costs are recognized separately from the business combination and expensed as incurred. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for further details.
Goodwill	Goodwill . Goodwill represents the excess of the purchase price over the estimated acquired values of identifiable assets and liabilities acquired in a business combination at the acquisition date. In accordance with U.S. GAAP, goodwill is not amortized. The Company will test goodwill for impairment annually beginning July 1, 2022 and whenever events occur or circumstances change that would indicate the carrying value of goodwill may be impaired. All of the Company’s goodwill was obtained from the e-TeleQuote acquisition and the e-TeleQuote business has been designated as a separate operating segment called Senior Health. Therefore, goodwill has been allocated solely to the Senior Health segment and will be evaluated for impairment at the Senior Health segment reporting unit level. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for goodwill recognized as part of the acquisition of e-TeleQuote.
Intangible Assets	Intangible Assets. Intangible assets acquired from the acquisition of e-TeleQuote consist primarily of relationships with health insurance carriers, who are our customers, and are amortized over their estimated useful lives. The Company uses an estimated useful life of 15 years as our relationships with health insurance carriers are not expected to turn over rapidly because these relationships are in-depth, non-exclusive, and pay-for-performance. Intangible assets subject to amortization are evaluated for impairment in the event factors indicate that the net carrying value may not be recoverable or the asset will not be used throughout its estimated useful life. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for intangible assets identified as part of the acquisition of e-TeleQuote.
Noncontrolling Interest	Noncontrolling Interest. In connection with the Company’s acquisition of e-TeleQuote, the Company became a party along with the noncontrolling equity holders of Primerica Health to a shareholders’ agreement (the “e-TeleQuote Shareholders’ Agreement”) which, among other matters, sets forth certain call and put rights starting in 2022 as described in Note 14 (Acquisition) of the unaudited condensed consolidated financial statements . The e-TeleQuote Shareholder’s Agreement provides the Company with the right to purchase, and the noncontrolling equity holders with the right to sell to the Company, the noncontrolling equity holders’ equity interests in Primerica Health at a contractually defined formulaic purchase price (the “Formulaic Price”), which is based on a calculation of selected peer company equity value multiples times the trailing twelve months of adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”). The noncontrolling equity holders’ interests in Primerica Health are accounted for separately in two categories. The first category primarily represents shares of Primerica Health held in trust for the benefit of the founder and chief executive officer of e-TeleQuote. These shares, which were exchanged for equity originally issued in connection with the founding of e-TeleQuote, are recognized as redeemable noncontrolling interests (“Redeemable NCI”) in the temporary stockholders’ equity section of the accompanying unaudited condensed consolidated balance sheets as the Company has the option of redeeming the shares for cash or for the Company’s common stock at a value equivalent to the Formulaic Price. The second category primarily represents shares of Primerica Health beneficially owned by e-TeleQuote’s management, other than the founder, which were exchanged for equity originally obtained through share-based compensation arrangements. These shares are impacted by the beneficial owner’s continuing employment with e-TeleQuote post acquisition. The second category is recognized as liability-classified stock-based compensation (“Liability-classified Equity Shares”) subject to the provisions of ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). Redeemable Noncontrolling Interest. As of the acquisition date, the Redeemable NCI was recognized at fair value and significant inputs to the Formulaic Price included peer Company forward-looking earnings multiples and Primerica Health’s forecasted Adjusted EBITDA. Subsequent to the acquisition date, the Redeemable NCI is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the Formulaic Price or its carrying amount, which is adjusted for net income (loss) attributable to the Redeemable NCI. Adjustments to the carrying amount of the Redeemable NCI resulting from changes in the Formulaic Price are recorded through retained earnings in the accompanying unaudited condensed consolidated balance sheets. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for Redeemable NCI recognized as part of the acquisition of e-TeleQuote. Share-based T Liability-classified Equity Shares represent shares in Primerica Health obtained by e-TeleQuote’s management pursuant to share-based compensation arrangements. Such shares include exchanges of restricted stock awards granted to e-TeleQuote’s management prior to the acquisition by the Company. Liability-classified Equity Shares are recognized at fair value and significant inputs to the Formulaic Price used to estimate fair value include peer Company forward-looking earnings multiples and Primerica Health’s forecasted Adjusted EBITDA. A small portion of the Liability-classified Equity Shares vested as a result of the acquisition and will be recognized as compensation expense separate from the purchase consideration transferred on the acquisition date. Subsequent to the acquisition date, the fair value of the Liability-classified Equity Shares will be remeasured as of the balance sheet date with an adjustment to the compensation expense recognized through earnings.
Income Taxes	Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to: (i) differences between the financial statement carrying amounts of acquired assets and liabilities and their respective tax bases and (ii) acquired e-TeleQuote net operating loss and interest deduction carryforwards available for future use. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized subject to management’s judgment that realization is more-likely-than-not applicable to the periods in which we expect the temporary difference will reverse. The Company has not recognized any material deferred taxes associated with goodwill as it has not acquired any material goodwill with tax basis. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for deferred income taxes recognized as part of the acquisition of e- TeleQuote .
Commissions and Fees – Senior Health	Commissions and Fees – Senior Health. As a result of the acquisition of e-TeleQuote, the Company distributes Medicare-related insurance policies offered by third-party health insurance carriers to eligible Medicare participants. e-TeleQuote receives initial commissions from health insurance carriers, who are considered its customers, for enrollments in policies it has distributed as well as ongoing renewal commissions that coincide with the period an eligible Medicare participant remains enrolled in a policy after the first policy effective date (collectively, “Lifetime value of commissions” or “LTV”). Revenue is recognized at the point in time e-TeleQuote’s single performance obligation to health insurance carriers is satisfied, which is generally on the date the policy application is approved by the health insurance carrier. The expected commissions represent variable consideration that will not be resolved until after the performance obligation has been satisfied. The Company estimates variable consideration in the transaction price for policies it has distributed as the expected amount of initial and renewal commissions to be received over the life of the enrolled policy. Variable consideration is estimated by using a portfolio approach to policies grouped together by health insurance carrier, Medicare product type, and period the policy was approved by the health insurance carrier (referred to as a “cohort”). This approach to estimating the initial and renewal commissions expected to be collected involves the evaluation of various factors, including but not limited to, contracted commission rates, insurance carrier mix, disenrollment experience, and renewal persistency rates. Upon development of the estimate of expected renewal commissions using the portfolio approach, management applies a constraint so that it is probable that a subsequent change in estimate will not result in a significant revenue reversal. Management judgment is required to determine the inputs to these estimates and the inputs are established primarily based on historical activity. Variable consideration in excess of the amount constrained is recognized in subsequent reporting periods when the uncertainty is resolved. Refer to Note 13 (Revenue with Contracts with Customers) of the unaudited condensed consolidated financial statements for detail related to commissions and fees revenues recognized by e-TeleQuote.
Renewal Commissions Receivable	Renewal Commissions Receivable. Renewal commissions receivable are contract assets that represent the renewal portion of estimated constrained variable consideration recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers ( “ASC 606” ) . Renewal commissions receivable primarily consist of expected commissions to be collected by e-TeleQuote from the distribution of Medicare-related health insurance policies where the performance obligation has been satisfied but payment is not due as the underlying policy has not yet renewed. The estimate of renewal commissions requires significant judgment subject to the same assumptions as noted in Commissions and Fees-Senior Health section above. Cash collections for these receivables are expected to occur over a period of several years. Under ASC 606, these receivables are not discounted as the timing for collection of payments is dependent on future policyholder renewals and not due to the presence of a significant financing component. Refer to Note 14 (Acquisition) of the unaudited condensed consolidated financial statements for renewal commissions receivable recognized as part of the acquisition of e-TeleQuote.
New Accounting Principles	New Accounting Principles. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted the amendments in Topic 740 as of January 1, 2021, but concluded there was no impact on our unaudited condensed consolidated financial statements On October 28, 2021, the FASB issued Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Future Application of Accounting Standards. In August 2018, the FASB issued Accounting Standards Update No. 2018-12, Financial Services—Insurance (Topic 944) — Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update change accounting guidance for insurance companies that issue long-duration contracts, including term life insurance. ASU 2018-12 requires companies that issue long-duration insurance contracts to update assumptions used in measuring future policy benefits, including mortality, disability, and persistency, at least annually instead of locking those assumptions at contract inception and reflecting differences in assumptions and actual performance as the experience occurs. ASU 2018-12 also includes changes to how insurance companies that issue long-duration contracts amortize DAC and determine and update the discount rate assumptions used in measuring future policy benefits reserves while increasing the level of financial statement disclosures required. The guidance in ASU 2018-12 will be applied to the earliest period presented in the unaudited condensed consolidated financial statements beginning on the effective date , which is January 1, 2023. The adoption of ASU 2018-12 will have an impact on our consolidated financial statements and related disclosures and will require changes to certain of our processes, systems, and controls. We are currently working on processes that will allow us to obtain the requisite data, modify our valuation system, and develop key assumptions that will be necessary to evaluate and implement this standard. As such, we are unable to determine the magnitude of the impact ASU 2018-12 will have on our consolidated financial statements at this time. Recently-issued accounting guidance not discussed above is not applicable, is immaterial to our unaudited condensed 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)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Revenues: Term life insurance segment $ 401,451 $ 357,799 $ 1,167,016 $ 1,013,778 Investment and savings products segment 233,337 176,337 694,770 525,551 Senior health segment 22,936 N/A 22,936 N/A Corporate and other distributed products segment 35,515 34,325 100,916 79,884 Total revenues $ 693,239 $ 568,461 $ 1,985,638 $ 1,619,213 Net investment income: Term life insurance segment $ 9,320 $ 6,813 $ 26,324 $ 19,598 Investment and savings products segment - - - - Senior health segment - N/A - N/A Corporate and other distributed products segment 10,680 16,140 34,264 41,485 Total net investment income $ 20,000 $ 22,953 $ 60,588 $ 61,083 Amortization of DAC: Term life insurance segment $ 59,287 $ 45,529 $ 174,106 $ 164,099 Investment and savings products segment 2,580 1,667 7,641 6,072 Senior health segment - N/A - N/A Corporate and other distributed products segment 347 295 857 808 Total amortization of DAC $ 62,214 $ 47,491 $ 182,604 $ 170,979 Non-cash share-based compensation expense: Term life insurance segment $ 570 $ 566 $ 3,303 $ 3,031 Investment and savings products segment 665 635 2,532 2,397 Senior health segment - N/A - N/A Corporate and other distributed products segment (594 ) 1,018 8,999 10,309 Total non-cash share-based compensation expense $ 641 $ 2,219 $ 14,834 $ 15,737 Income (loss) before income taxes: Term life insurance segment $ 107,589 $ 105,315 $ 312,603 $ 283,110 Investment and savings products segment 69,368 51,372 203,885 145,931 Senior health segment (8,490 ) N/A (8,490 ) N/A Corporate and other distributed products segment (21,365 ) (10,204 ) (63,123 ) (53,951 ) Total income before income taxes $ 147,102 $ 146,483 $ 444,875 $ 375,090
Total Assets by Segment	Total assets by segment were as follows: September 30, 2021 December 31, 2020 (In thousands) Assets: Term life insurance segment $ 7,227,209 $ 6,985,086 Investment and savings products segment (1) 2,805,781 2,769,445 Senior health segment 620,470 N/A Corporate and other distributed products segment 5,162,675 5,150,754 Total assets $ 15,816,135 $ 14,905,285 (1)
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 and condensed consolidated statements of income, were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Revenues by country: United States $ 594,406 $ 488,216 $ 1,687,868 $ 1,384,215 Canada 98,833 80,245 297,770 234,998 Total revenues $ 693,239 $ 568,461 $ 1,985,638 $ 1,619,213 September 30, 2021 December 31, 2020 (In thousands) Long-lived assets by country: United States $ 58,593 $ 53,281 Canada 4,029 4,446 Other 223 - Total long-lived assets $ 62,845 $ 57,727

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The period-end amortized cost, gross unrealized gains and losses, and fair value of available-for-sale securities were as follows: September 30, 2021 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 $ 11,154 $ 242 $ (33 ) $ 11,363 Foreign government 136,069 6,766 (757 ) 142,078 States and political subdivisions 152,065 6,658 (203 ) 158,520 Corporates 1,612,500 88,384 (5,749 ) 1,695,135 Residential mortgage-backed securities 311,622 6,927 (1,031 ) 317,518 Commercial mortgage-backed securities 146,278 4,869 (100 ) 151,047 Other asset-backed securities 118,158 1,956 (271 ) 119,843 Total fixed-maturity securities 2,487,846 115,802 (8,144 ) 2,595,504 Short-term investments 40,043 - (6 ) 40,037 Total fixed-maturity securities and short-term investments $ 2,527,889 $ 115,802 $ (8,150 ) $ 2,635,541 December 31, 2020 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 $ 9,747 $ 400 $ (3 ) $ 10,144 Foreign government 169,967 13,324 (39 ) 183,252 States and political subdivisions 161,058 9,632 (1 ) 170,689 Corporates 1,506,549 124,164 (2,545 ) 1,628,168 Residential mortgage-backed securities 261,376 11,419 (54 ) 272,741 Commercial mortgage-backed securities 107,020 5,901 (56 ) 112,865 Other asset-backed securities 85,521 1,816 (585 ) 86,752 Total fixed-maturity securities $ 2,301,238 $ 166,656 $ (3,283 ) $ 2,464,611
Fixed-maturity Securities Classified by Contractual Maturity Date	The scheduled maturity distribution of the available-for-sale fixed-maturity portfolio as of September 30, 2021 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 201,591 $ 206,190 Due after one year through five years 780,165 828,003 Due after five years through 10 years 667,949 697,828 Due after 10 years 262,083 275,075 1,911,788 2,007,096 Mortgage- and asset-backed securities 576,058 588,408 Total AFS fixed-maturity securities $ 2,487,846 $ 2,595,504
Costs and Fair Value of Securities Classified as Trading Securities	The cost and fair value of the securities classified as trading securities were as follows: September 30, 2021 December 31, 2020 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 26,533 $ 26,251 $ 16,359 $ 16,300
Net Investment Income	Investment Income. The components of net investment income were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Fixed-maturity securities (available-for-sale) $ 19,860 $ 20,883 $ 60,035 $ 61,880 Fixed-maturity security (held-to-maturity) 15,741 14,704 46,382 42,250 Equity securities 413 433 1,216 1,345 Policy loans and other invested assets 289 242 618 973 Cash and cash equivalents 96 114 371 1,099 Total return on deposit asset underlying 10% coinsurance agreement (1) 346 2,858 1,989 1,962 Gross investment income 36,745 39,234 110,611 109,509 Investment expenses (1,004 ) (1,577 ) (3,641 ) (6,176 ) Investment income net of investment expenses 35,741 37,657 106,970 103,333 Interest expense on surplus note (15,741 ) (14,704 ) (46,382 ) (42,250 ) Net investment income $ 20,000 $ 22,953 $ 60,588 $ 61,083 (1) For the three and nine months ended September 30, 2021, included $(0.6) million and $(1.6) million, respectively, of net losses recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement. For the three and nine months ended September 30, 2020, included $1.2 million and $(2.9) million, respectively, of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement.
Schedule of Net Realized Investment Gains and Losses Recognized in Net Income	The components of net realized investment gains (losses) recognized in net income as well as details on gross realized investment gains and losses were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Net realized investment gains (losses): Gross gains from sales of available-for-sale securities $ 1,801 $ 632 $ 5,780 $ 1,816 Gross losses from sales of available-for-sale securities (71 ) (559 ) (2,018 ) (675 ) Credit gains (losses) on available-for-sale securities 149 (23 ) (710 ) (4,269 ) Net gains (losses) recognized in net income during the period on equity securities (418 ) 573 1,117 (4,552 ) Gains (losses) from bifurcated options 1 26 (48 ) 42 Gains (losses) on trading securities (52 ) (7 ) (245 ) (7 ) Net realized investment gains (losses) $ 1,410 $ 642 $ 3,876 $ (7,645 )
Schedule of Proceeds from Sales or Other Redemptions of Available-for-Sale Securities	The proceeds from sales or other redemptions of available-for-sale securities were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Proceeds from sales or other redemptions $ 135,393 $ 122,148 $ 449,564 $ 397,978
Schedule of Unrealized Net Gains (Losses) Recognized in NI on Equity Securities Still Held at Period-End	The components of net gains (losses) recognized in net income on equity securities still held as of period-end were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Net gains (losses) recognized in net income during the period on equity securities $ (418 ) $ 573 $ 1,117 $ (4,552 ) Less: Net gains (losses) recognized on equity securities sold - (59 ) - (250 ) Net gains (losses) recognized in net income on equity securities still held as of period-end $ (418 ) $ 632 $ 1,117 $ (4,302 )
Schedule of Securities in Unrealized Loss Position	The following table summarize all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of September 30, 2021, aggregated by major security type and length of time such securities have continuously been in an unrealized loss position: September 30, 2021 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,706 $ (14 ) $ 1,580 $ (19 ) Foreign government 19,772 (641 ) 1,021 (116 ) States and political subdivisions 13,584 (203 ) - - Corporates 225,198 (4,077 ) 23,761 (1,672 ) Residential mortgage-backed securities 143,056 (1,026 ) 414 (5 ) Commercial mortgage-backed securities 20,290 (99 ) 128 (1 ) Other asset-backed securities 44,754 (199 ) 4,132 (72 ) Total fixed-maturity securities 468,360 (6,259 ) 31,036 (1,885 ) Short-term investments: U.S. government and agencies 40,037 (6 ) - - Total short-term investments 40,037 (6 ) - - Total fixed-maturity securities and short-term investments $ 508,397 $ (6,265 ) $ 31,036 $ (1,885 ) December 31, 2020 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,619 $ (3 ) $ - $ - Foreign government 4,034 (39 ) - - States and political subdivisions 449 (1 ) - - Corporates 68,057 (1,628 ) 11,964 (917 ) Residential mortgage-backed securities 1,672 (35 ) 862 (19 ) Commercial mortgage-backed securities 10,200 (50 ) 2,168 (6 ) Other asset-backed securities 11,988 (536 ) 3,150 (49 ) Total fixed-maturity securities $ 98,019 $ (2,292 ) $ 18,144 $ (991 )
Schedule of Securities in Allowance for Credit Losses	The rollforward of the allowance for credit losses on available-for-sale securities were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Allowance for credit losses, beginning of period $ 858 $ 465 $ - $ - Additions to the allowance for credit losses on securities for which credit losses were not previously recorded 6 - 160 525 Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (154 ) 23 550 (37 ) Write-offs charged against the allowance, if any - (465 ) - (465 ) Allowance for credit losses, end of period $ 710 $ 23 $ 710 $ 23

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
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: September 30, 2021 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 11,363 $ - $ 11,363 Foreign government - 142,078 - 142,078 States and political subdivisions - 158,520 - 158,520 Corporates 5,848 1,689,287 - 1,695,135 Mortgage- and asset-backed securities: Residential mortgage-backed securities - 317,491 27 317,518 Commercial mortgage-backed securities - 151,047 - 151,047 Other asset-backed securities - 119,843 - 119,843 Total available-for-sale fixed-maturity securities 5,848 2,589,629 27 2,595,504 Short-term investments - 40,037 - 40,037 Total available-for-sale securities 5,848 2,629,666 27 2,635,541 Equity securities 36,107 1,088 3,751 40,946 Trading securities - 26,251 - 26,251 Cash and cash equivalents 325,578 - - 325,578 Separate accounts - 2,672,606 - 2,672,606 Total fair value assets $ 367,533 $ 5,329,611 $ 3,778 $ 5,700,922 Fair value liabilities: Separate accounts $ - $ 2,672,606 $ - $ 2,672,606 Total fair value liabilities $ - $ 2,672,606 $ - $ 2,672,606 December 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,144 $ - $ 10,144 Foreign government - 183,252 - 183,252 States and political subdivisions - 170,689 - 170,689 Corporates 6,074 1,622,094 - 1,628,168 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 272,714 27 272,741 Commercial mortgage-backed securities - 112,865 - 112,865 Other asset-backed securities - 86,752 - 86,752 Total available-for-sale securities 6,074 2,458,510 27 2,464,611 Equity securities 34,910 1,093 2,020 38,023 Trading securities - 16,300 - 16,300 Cash and cash equivalents 285,074 262,495 - 547,569 Separate accounts - 2,659,520 - 2,659,520 Total fair value assets $ 326,058 $ 5,397,918 $ 2,047 $ 5,726,023 Fair value liabilities: Separate accounts $ - $ 2,659,520 $ - $ 2,659,520 Total fair value liabilities $ - $ 2,659,520 $ - $ 2,659,520
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 September 30, Nine months ended September 30, (1) 2021 2020 2021 2020 (In thousands) Level 3 assets, beginning of period $ 3,336 $ 5,268 $ 2,047 $ 585 Net unrealized gains (losses) included in other comprehensive income 1 - 1 2 Realized gains (losses) and accretion (amortization) recognized in earnings (125 ) (444 ) (359 ) (452 ) Purchases 2,068 2,999 3,067 2,999 Settlements (1 ) (4,624 ) (2,191 ) (4,970 ) Transfers into Level 3 - - 2,714 5,035 Transfers out of Level 3 (1,501 ) - (1,501 ) - Level 3 assets, end of period $ 3,778 $ 3,199 $ 3,778 $ 3,199 (1) Activities for investments that enter Level 3 in one quarter and exit Level 3 in another quarter within the same fiscal year are not eliminated until year-end when only the full year amounts are presented.
Carrying Values and Estimated Fair Values of Financial Instruments	The carrying values and estimated fair values of our financial instruments were as follows: September 30, 2021 December 31, 2020 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,595,504 $ 2,595,504 $ 2,464,611 $ 2,464,611 Fixed-maturity security (held-to-maturity) (3) 1,376,090 1,565,048 1,346,350 1,606,208 Short-term investments (available-for-sale) 40,037 40,037 - - Equity securities 40,946 40,946 38,023 38,023 Trading securities 26,251 26,251 16,300 16,300 Policy loans (3) 28,079 28,079 30,199 30,199 Deposit asset underlying 10% coinsurance agreement (3) 233,307 233,307 236,865 236,865 Separate accounts 2,672,606 2,672,606 2,659,520 2,659,520 Liabilities: Senior notes (1) (2) $ 374,702 $ 387,424 $ 374,415 $ 399,377 Surplus note (1) (3) 1,375,559 1,558,422 1,345,772 1,596,599 Separate accounts 2,672,606 2,672,606 2,659,520 2,659,520 (1) Carrying value amounts shown are net of issuance costs (2) Classified as a Level 2 fair value measurement. (3) Classified as a Level 3 fair value measurement.

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
In-force Life Insurance	Details on in-force life insurance were as follows: September 30, 2021 December 31, 2020 (Dollars in thousands) Direct life insurance in-force $ 896,476,313 $ 861,392,223 Amounts ceded to other companies (770,716,926 ) (742,356,917 ) Net life insurance in-force $ 125,759,387 $ 119,035,306 Percentage of reinsured life insurance in-force 86 % 86 %
Reinsurance Recoverable and Financial Strength Ratings by Reinsurer	Reinsurance recoverables as of September 30, 2021 and December 31, 2020 include ceded reserve balances, ceded claim liabilities, and ceded claims paid. Reinsurance recoverables and financial strength ratings by reinsurer were as follows: September 30, 2021 December 31, 2020 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Pecan Re Inc. (1) (2) $ 2,592,296 NR $ 2,654,698 NR SCOR Global Life Reinsurance Companies (3) 419,469 A+ 395,804 A+ Munich Re of Malta (2) (5) 278,165 NR 285,350 NR Swiss Re Life & Health America Inc. (4) 259,970 A+ 251,409 A+ American Health and Life Insurance Company (2) 160,524 B++ 163,082 B++ Munich American Reassurance Company 142,830 A+ 137,312 A+ RGA Reinsurance 139,074 A+ 125,492 A+ Korean Reinsurance Company 129,953 A 123,568 A Hannover Life Reassurance Company 48,544 A+ 41,201 A+ TOA Reinsurance Company 40,163 A 34,212 A All other reinsurers 74,935 - 68,920 - Allowance for credit losses (7,601 ) (7,144 ) Reinsurance recoverables $ 4,278,322 $ 4,273,904 NR – not rated (1) (2) Reinsurance recoverables includes 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 recoverables from other reinsurers. Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables. (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. (5)
Allowance for Credit Loss on Reinsurance Recoverable	The rollforward of the allowance for credit losses on reinsurance recoverables were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Balance, beginning of period $ 7,654 $ 5,602 $ 7,144 $ 3,917 Current period provision for expected credit losses - - 510 1,685 Less: Recoveries from expected credit losses previously recorded (53 ) (8 ) (53 ) (8 ) Balance, at the end of period $ 7,601 $ 5,594 $ 7,601 $ 5,594

Policy Claims and Other Benef_2

Policy Claims and Other Benefits Payable (Tables)	9 Months Ended
	Sep. 30, 2021
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 incurred and other benefits payable were as follows: Nine months ended September 30, 2021 2020 (In thousands) Policy claims and other benefits payable, beginning of period $ 519,711 $ 339,954 Less reinsured policy claims and other benefits payable 545,857 388,797 Net balance, beginning of period (26,146 ) (48,843 ) Incurred related to current year 207,542 171,485 Incurred related to prior years (1) (121 ) (4,145 ) Total incurred 207,421 167,340 Claims paid related to current year, net of reinsured policy claims received (276,730 ) (208,117 ) Reinsured policy claims received related to prior years, net of claims paid 36,439 60,355 Total paid (240,291 ) (147,762 ) Foreign currency translation 44 (165 ) Net balance, end of period (58,972 ) (29,430 ) Add reinsured policy claims and other benefits payable 616,097 497,039 Balance, end of period $ 557,125 $ 467,609 (1)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders Equity Note [Abstract]
Reconciliation of Number of Shares of Common Stock	A reconciliation of the number of shares of our common stock follows: Nine months ended September 30, 2021 2020 (In thousands) Common stock, beginning of period $ 39,306 $ 41,207 Shares issued for stock options exercised 10 - Shares of common stock issued upon lapse of restricted stock units (“RSUs”) 204 287 Common stock retired (49 ) (2,120 ) Common stock, end of period $ 39,471 $ 39,374

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income attributable to Primerica, Inc. $ 112,456 $ 112,101 $ 338,489 $ 286,080 Income attributable to unvested participating securities (458 ) (493 ) (1,403 ) (1,239 ) Net income used in calculating basic EPS $ 111,998 $ 111,608 $ 337,086 $ 284,841 Denominator: Weighted-average vested shares 39,561 39,588 39,516 40,281 Basic EPS $ 2.83 $ 2.82 $ 8.53 $ 7.07 Diluted EPS: Numerator: Net income attributable to Primerica, Inc. $ 112,456 $ 112,101 $ 338,489 $ 286,080 Income attributable to unvested participating securities (457 ) (492 ) (1,399 ) (1,236 ) Net income used in calculating diluted EPS $ 111,999 $ 111,609 $ 337,090 $ 284,844 Denominator: Weighted-average vested shares 39,561 39,588 39,516 40,281 Dilutive effect of incremental shares to be issued for contingently-issuable shares 118 122 121 115 Weighted-average shares used in calculating diluted EPS 39,679 39,710 39,637 40,396 Diluted EPS $ 2.82 $ 2.81 $ 8.50 $ 7.05

Share-Based Transactions (Table

Share-Based Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Impact of Equity Awards Granted	The impact of equity awards granted under the OIP are as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Equity awards expense recognized $ 2,369 $ 2,219 $ 16,561 $ 15,737 Equity awards expense deferred 2,048 2,542 7,227 7,501

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) before income taxes $ (5,892 ) $ 6,312 $ 6,490 $ (9,055 ) Income tax expense (benefit) on unrealized foreign currency translation gains (losses) - - - - Change in unrealized foreign currency translation gains (losses), net of income taxes $ (5,892 ) $ 6,312 $ 6,490 $ (9,055 ) Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period before income taxes $ (13,796 ) $ 15,347 $ (52,669 ) $ 49,624 Income tax expense (benefit) on unrealized holding gains (losses) arising during period (2,991 ) 3,276 (11,653 ) 10,900 Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes (10,805 ) 12,071 (41,016 ) 38,724 … Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities (1,879 ) (50 ) (3,052 ) 3,128 Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income (395 ) (11 ) (641 ) 657 Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes (1,484 ) (39 ) (2,411 ) 2,471 Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment $ (12,289 ) $ 12,032 $ (43,427 ) $ 41,195

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenues from Contracts	Disaggregation of Revenue from Contracts with Customers. The disaggregation of our revenues from contracts with customers were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Term Life Insurance segment revenues: Other, net $ 12,476 $ 12,717 $ 36,601 $ 34,311 Total segment revenues from contracts with customers 12,476 12,717 36,601 34,311 Revenues from sources other than contracts with customers 388,975 345,082 1,130,415 979,467 Total Term Life Insurance segment revenues $ 401,451 $ 357,799 $ 1,167,016 $ 1,013,778 Investment and Savings Products segment revenues: Commissions and fees Sales-based revenues $ 95,229 $ 65,600 $ 298,057 $ 209,304 Asset-based revenues 97,184 71,970 275,084 203,629 Account-based revenues 21,456 21,008 64,424 61,690 Other, net 3,094 3,034 9,001 8,322 Total segment revenues from contracts with customers 216,963 161,612 646,566 482,945 Revenues from sources other than contracts with customers (segregated funds) 16,374 14,725 48,204 42,606 Total Investment and Savings Products segment revenues $ 233,337 $ 176,337 $ 694,770 $ 525,551 Senior Health segment revenues: Commissions and fees $ 21,558 N/A $ 21,558 N/A Other, net 1,378 N/A 1,378 N/A Total Senior Health segment revenues $ 22,936 N/A $ 22,936 N/A Corporate and Other Distributed Products segment revenues: Commissions and fees $ 17,995 $ 11,999 $ 47,202 $ 29,930 Other, net 1,103 923 2,978 2,742 Total segment revenues from contracts with customers 19,098 12,922 50,180 32,672 Revenues from sources other than contracts with customers 16,417 21,403 50,736 47,212 Total Corporate and Other Distributed Products segment revenues $ 35,515 $ 34,325 $ 100,916 $ 79,884
Summary of Renewal Commissions Receivable	Activity in the Renewal commissions receivable account was as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (In thousands) Senior Health segment: Balance, beginning of period $ - N/A $ - N/A Contract balances acquired as part of business combination 199,575 N/A 199,575 N/A Commissions revenue 16,526 N/A 16,526 N/A Less: collections (6,842 ) N/A (6,842 ) N/A Balance, at the end of period $ 209,259 N/A $ 209,259 N/A Corporate and Other Distributed Products segments: Balance, beginning of period $ 56,683 $ 52,523 $ 54,845 $ 51,701 Commissions revenue 8,810 6,618 21,969 18,435 Less: collections (5,800 ) (5,579 ) (17,121 ) (16,574 ) Balance, at the end of period $ 59,693 $ 53,562 $ 59,693 $ 53,562

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Summary of Identified Assets Acquired and Liabilities Assumed at Acquisition Date	The following table presents the preliminary purchase price allocation recorded in the Company’s unaudited condensed consolidated balance sheets as of the acquisition date, which is subject to finalization for estimates of the assets acquired and liabilities assumed as of the acquisition date, including but not limited to tangible assets, intangible assets and tax-related items, and the related tax effects of any changes made: Preliminary Purchase Price Allocation (In thousands) Assets: Cash and cash equivalent $ 1,080 Accounts receivables 692 Renewal commissions receivable 199,575 Other assets 15,705 Intangible assets 162,000 Goodwill 224,180 Total assets 603,232 Liabilities: Accounts payable and accrued expenses 8,785 Deferred tax liability 65,425 Other liabilities 10,046 Total liabilities 84,256 Net assets acquired $ 518,976 Temporary Stockholders' Equity: Redeemable noncontrolling interests $ 8,437 Total temporary stockholders' equity $ 8,437
Summary of Unaudited Actual Statements of Income	The following unaudited summary represents e-TeleQuote’s actual statements of income for the three and nine months of September 30, 2021: Three and nine months ended September 30, 2021 (in thousands) Revenue $ 22,936 Net income (loss) (7,349 )
Summary of Unaudited Proforma Information	The following unaudited pro forma consolidated financial information combines the unaudited results of the Company for the three and nine months ended September 30, 2021 and 2020 and the unaudited results of e-TeleQuote for the three and nine months ended September 30, 2021 and 2020, and assumes that the e-TeleQuote acquisition, which closed on July 1, 2021, was completed on January 1, 2020 (the first day of fiscal year 2020). The pro forma consolidated financial information has been calculated after applying adjustments for amortization expense of acquired intangible assets and the consequential tax effect. These pro forma results have been prepared for comparative purpose only and do not purport to be indicative of the operating results of the Company that would have been achieved had the e-TeleQuote acquisition actually taken place on January 1, 2020. In addition, these results are not intended to project future results and do not reflect events that may occur after September 30, 2021 including, but not limited to, revenue enhancements, cost savings or operating synergies that the Company may achieve as a result of the e-TeleQuote acquisition. Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (in thousands) Revenue $ 693,240 $ 598,272 $ 2,050,898 $ 1,711,256 Net income (loss) 108,873 107,806 326,770 288,017

Description of Business, Basi_3

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Narrative (Details)	Jul. 01, 2021	Sep. 30, 2021
ASU 2019-12 [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 1, 2021
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		false
ASU 2021-08 [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 1, 2021
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false]		true
Etelequote Bermuda [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Business Acquisition, Date of Acquisition Agreement	Jul. 1, 2021
Percentage of interest acquired	80.00%
Etelequote Bermuda [Member] | Customer Relationships [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Estimated useful life	15 years	15 years

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2021Segment
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		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues		$ 693,239	$ 568,461	$ 1,985,638	$ 1,619,213
Net investment income		20,000	22,953	60,588	61,083
Amortization of deferred policy acquisition costs		62,214	47,491	182,604	170,979
Non-cash share-based compensation expense		641	2,219	14,834	15,737
Income (loss) before income taxes		147,102	146,483	444,875	375,090
Assets		15,816,135		15,816,135		$ 14,905,285
Term Life Insurance Segment [Member]
Segment Reporting Information [Line Items]
Revenues		401,451	357,799	1,167,016	1,013,778
Net investment income		9,320	6,813	26,324	19,598
Amortization of deferred policy acquisition costs		59,287	45,529	174,106	164,099
Non-cash share-based compensation expense		570	566	3,303	3,031
Income (loss) before income taxes		107,589	105,315	312,603	283,110
Assets		7,227,209		7,227,209		6,985,086
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		233,337	176,337	694,770	525,551
Amortization of deferred policy acquisition costs		2,580	1,667	7,641	6,072
Non-cash share-based compensation expense		665	635	2,532	2,397
Income (loss) before income taxes		69,368	51,372	203,885	145,931
Assets	[1]	2,805,781		2,805,781		2,769,445
Senior Health Segment [Member]
Segment Reporting Information [Line Items]
Revenues		22,936		22,936
Income (loss) before income taxes		(8,490)		(8,490)
Assets		620,470		620,470
Corporate and Other Distributed Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		35,515	34,325	100,916	79,884
Net investment income		10,680	16,140	34,264	41,485
Amortization of deferred policy acquisition costs		347	295	857	808
Non-cash share-based compensation expense		(594)	1,018	8,999	10,309
Income (loss) before income taxes		(21,365)	$ (10,204)	(63,123)	$ (53,951)
Assets		$ 5,162,675		$ 5,162,675		$ 5,150,754
[1]	The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $133.2 million and $110.0 million as of September 30, 2021 and December 31, 2020, respectively.

Segment and Geographical Info_5

Segment and Geographical Information - Summary of Assets and Profit or Loss by Segment (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Assets, excluding separate account assets	$ 133.2	$ 110

Segment and Geographical Info_6

Segment and Geographical Information - Long Lived Assets and Continuing Operations by Country (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 693,239	$ 568,461	$ 1,985,638	$ 1,619,213
Long-lived assets	62,845		62,845		$ 57,727
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	594,406	488,216	1,687,868	1,384,215
Long-lived assets	58,593		58,593		53,281
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	98,833	$ 80,245	297,770	$ 234,998
Long-lived assets	4,029		4,029		$ 4,446
Other [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	$ 223		$ 223

Investments - Schedule of Avail

Investments - Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, at fair value	$ 2,595,504	$ 2,464,611
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	2,487,846	2,301,238
Available-for-sale debt securities gross unrealized gain	115,802	166,656
Available-for-sale debt securities, gross unrealized loss	(8,144)	(3,283)
Available-for-sale debt securities, at fair value	2,595,504	2,464,611
Short-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	40,043	0
Available-for-sale debt securities, gross unrealized loss	(6)
Available-for-sale debt securities, at fair value	40,037
Fixed-Maturity Securities and Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	2,527,889
Available-for-sale debt securities gross unrealized gain	115,802
Available-for-sale debt securities, gross unrealized loss	(8,150)
Available-for-sale debt securities, at fair value	2,635,541
U.S. Government and Agencies [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	11,154	9,747
Available-for-sale debt securities gross unrealized gain	242	400
Available-for-sale debt securities, gross unrealized loss	(33)	(3)
Available-for-sale debt securities, at fair value	11,363	10,144
Foreign Government [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	136,069	169,967
Available-for-sale debt securities gross unrealized gain	6,766	13,324
Available-for-sale debt securities, gross unrealized loss	(757)	(39)
Available-for-sale debt securities, at fair value	142,078	183,252
States and Political Subdivisions [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	152,065	161,058
Available-for-sale debt securities gross unrealized gain	6,658	9,632
Available-for-sale debt securities, gross unrealized loss	(203)	(1)
Available-for-sale debt securities, at fair value	158,520	170,689
Corporates [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	1,612,500	1,506,549
Available-for-sale debt securities gross unrealized gain	88,384	124,164
Available-for-sale debt securities, gross unrealized loss	(5,749)	(2,545)
Available-for-sale debt securities, at fair value	1,695,135	1,628,168
Residential Mortgage-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	311,622	261,376
Available-for-sale debt securities gross unrealized gain	6,927	11,419
Available-for-sale debt securities, gross unrealized loss	(1,031)	(54)
Available-for-sale debt securities, at fair value	317,518	272,741
Commercial Mortgage-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	146,278	107,020
Available-for-sale debt securities gross unrealized gain	4,869	5,901
Available-for-sale debt securities, gross unrealized loss	(100)	(56)
Available-for-sale debt securities, at fair value	151,047	112,865
Other Asset-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	118,158	85,521
Available-for-sale debt securities gross unrealized gain	1,956	1,816
Available-for-sale debt securities, gross unrealized loss	(271)	(585)
Available-for-sale debt securities, at fair value	$ 119,843	$ 86,752

Investments - Fixed-maturity Se

Investments - Fixed-maturity Securities Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Available-for-sale Securities, Debt Maturities [Abstract]
Available-for-sale debt securities, at fair value	$ 2,595,504	$ 2,464,611
Fixed Maturities
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less, amortized cost	201,591
Due after one year through five years, amortized cost	780,165
Due after five years through 10 years, amortized cost	667,949
Due after 10 years, amortized cost	262,083
Total fixed-maturity securities with single maturity dates, amortized cost	1,911,788
Mortgage and asset-backed securities, amortized cost	576,058
Available-for-sale debt securities, amortized cost basis	2,487,846	2,301,238
Due in one year or less, fair value	206,190
Due after one year through five years, fair value	828,003
Due after five years through 10 years, fair value	697,828
Due after 10 years, fair value	275,075
Total fixed-maturity securities with single maturity dates, fair value	2,007,096
Mortgage and asset-backed securities, fair value	588,408
Available-for-sale debt securities, at fair value	$ 2,595,504	$ 2,464,611

Investments - Costs and Fair Va

Investments - Costs and Fair Value of Securities Classified as Trading Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	$ 26,533	$ 16,359
Fixed Maturities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	26,533	16,359
Total trading securities, Fair value	$ 26,251	$ 16,300

Investments - Held-to-maturity

Investments - Held-to-maturity Security - Narrative (Details)	9 Months Ended
	Sep. 30, 2021USD ($)
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity debt security estimated unrealized holding gain	$ 189,000,000
Held-to-maturity debt security Credit losses	$ 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	Sep. 30, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Fair values of investments on deposit	$ 7.6	$ 7.7

Investments - Securities Lendin

Investments - Securities Lending Collateral - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Securities Received as Collateral [Abstract]
Securities loaned, minimum collateral to loan ratio	102.00%
Securities loaned, additional collateral requirement, decline in collateral value threshold percentage	100.00%
Cash collateral received and reinvested	$ 105.3	$ 72.2

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		$ 36,745	$ 39,234	$ 110,611	$ 109,509
Investment expenses		(1,004)	(1,577)	(3,641)	(6,176)
Investment income net of investment expenses		35,741	37,657	106,970	103,333
Interest expense on surplus note		(15,741)	(14,704)	(46,382)	(42,250)
Net investment income		20,000	22,953	60,588	61,083
Equity Securities [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		413	433	1,216	1,345
Policy Loans and Other Invested Assets [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		289	242	618	973
Cash and Cash Equivalents [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		96	114	371	1,099
Total return on deposit asset underlying 10% insurance agreement [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating	[1]	346	2,858	1,989	1,962
Available-for-Sale [Member] | Fixed Maturities
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		19,860	20,883	60,035	61,880
Held-to-Maturity [Member] | Fixed Maturities
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		$ 15,741	$ 14,704	$ 46,382	$ 42,250
[1]	For the three and nine months ended September 30, 2021, included $(0.6) million and $(1.6) million, respectively, of net losses recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement. For the three and nine months ended September 30, 2020, included $1.2 million and $(2.9) million, respectively, of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10% coinsurance agreement.

Investments - Net Investment _2

Investments - Net Investment Income (Parenthetical) (Details) - Deposit asset underlying 10% coinsurance agreement [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
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	$ (0.6)	$ 1.2	$ (1.6)	$ (2.9)
Percentage of coinsurance costs	10.00%	10.00%	10.00%	10.00%

Investments - Schedule of Net R

Investments - Schedule of Net Realized Investment Gains and Losses Recognized in Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Realized Investment Gains Losses [Abstract]
Gross gains from sales of available-for-sale securities	$ 1,801	$ 632	$ 5,780	$ 1,816
Gross losses from sales of available-for-sale securities	(71)	(559)	(2,018)	(675)
Credit gains (losses) on available-for-sale securities	149	(23)	(710)	(4,269)
Net gains (losses) recognized in net income during the period on equity securities	(418)	573	1,117	(4,552)
Gains (losses) from bifurcated options	1	26	(48)	42
Gains (losses) on trading securities	(52)	(7)	(245)	(7)
Net realized investment gains (losses)	$ 1,410	$ 642	$ 3,876	$ (7,645)

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Proceeds From Sale And Maturity Of Available For Sale Securities [Abstract]
Proceeds from sales or other redemptions	$ 135,393	$ 122,148	$ 449,564	$ 397,978

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Net Gains (Losses) Recognized in NI on Equity Securities Still Held at Period-End (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Realized Investment Gains Losses [Abstract]
Net gains (losses) recognized in net income during the period on equity securities	$ (418)	$ 573	$ 1,117	$ (4,552)
Less: Net gains (losses) recognized on equity securities sold		(59)		(250)
Net gains (losses) recognized in net income on equity securities still held as of period-end	$ (418)	$ 632	$ 1,117	$ (4,302)

Investments - Accrued Interest

Investments - Accrued Interest - Narrative (Details)	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Securities, description on accrued interest	Accrued interest is recorded in accordance with the original 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 any remaining accrued interest will be written off. 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	Sep. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	$ 508,397
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(6,265)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	31,036
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(1,885)
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	468,360	$ 98,019
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(6,259)	(991)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	31,036	18,144
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(1,885)	(2,292)
Short-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	40,037
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(6)
U.S. Government and Agencies [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	1,706	1,619
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(14)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	1,580
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(19)	(3)
U.S. Government and Agencies [Member] | Short-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	40,037
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(6)
Foreign Government [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	19,772	4,034
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(641)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	1,021
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(116)	(39)
States and Political Subdivisions [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	13,584	449
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(203)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses		(1)
Corporates [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	225,198	68,057
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(4,077)	(917)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	23,761	11,964
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(1,672)	(1,628)
Residential Mortgage-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	143,056	1,672
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(1,026)	(19)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	414	862
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(5)	(35)
Commercial Mortgage-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	20,290	10,200
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(99)	(6)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	128	2,168
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(1)	(50)
Other Asset-backed Securities [Member] | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	44,754	11,988
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(199)	(49)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	4,132	3,150
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	$ (72)	$ (536)

Investments - Available-for-sal

Investments - Available-for-sale Securities with Cost Basis in Excess of Fair Value - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale fixed-maturities with cost basis in excess of fair values, cost basis	$ 547.6		$ 547.6		$ 119.4
Available-for-sale credit losses	(0.1)		0.7	$ 4.3
Credit losses adjustment to amortized cost	$ 0	$ 0	$ 0	$ 3.8
Maximum
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale credit losses		$ 0.1

Investments - Rollforward of th

Investments - Rollforward of the Allowance for Credit Losses on Available-for-sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Allowance for credit losses, beginning of period	$ 858	$ 465
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	6		$ 160	$ 525
Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period	(154)	23	550	(37)
Write-offs charged against the allowance, if any		(465)		(465)
Allowance for credit losses, end of period	$ 710	$ 23	$ 710	$ 23

Investments - Loss from Closed

Investments - Loss from Closed Currency Forward Contracts Recorded in Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
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	Sep. 30, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 2,595,504	$ 2,464,611
Equity securities	40,946	38,023
Cash and cash equivalents	325,578	547,569
Separate account assets	2,672,606	2,659,520
Separate account liabilities	$ 2,672,606	2,659,520
Fair value assumptions, percentage of securities assessed by third-party pricing service	99.00%
Fair Value, Recurring Measurements [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 2,595,504
Short-term investments	40,037
Total available-for-sale securities	2,635,541	2,464,611
Equity securities	40,946	38,023
Trading securities	26,251	16,300
Cash and cash equivalents	325,578	547,569
Separate account assets	2,672,606	2,659,520
Assets, fair value disclosure	5,700,922	5,726,023
Separate account liabilities	2,672,606	2,659,520
Liabilities, fair value disclosure	2,672,606	2,659,520
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	5,848
Total available-for-sale securities	5,848	6,074
Equity securities	36,107	34,910
Cash and cash equivalents	325,578	285,074
Assets, fair value disclosure	367,533	326,058
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	2,589,629
Short-term investments	40,037
Total available-for-sale securities	2,629,666	2,458,510
Equity securities	1,088	1,093
Trading securities	26,251	16,300
Cash and cash equivalents		262,495
Separate account assets	2,672,606	2,659,520
Assets, fair value disclosure	5,329,611	5,397,918
Separate account liabilities	2,672,606	2,659,520
Liabilities, fair value disclosure	2,672,606	2,659,520
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	27
Total available-for-sale securities	27	27
Equity securities	3,751	2,020
Assets, fair value disclosure	3,778	2,047
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	11,363	10,144
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	11,363	10,144
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	142,078	183,252
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	142,078	183,252
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	158,520	170,689
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	158,520	170,689
Fair Value, Recurring Measurements [Member] | Corporates [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	1,695,135	1,628,168
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	5,848	6,074
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	1,689,287	1,622,094
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	317,518	272,741
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	317,491	272,714
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	27	27
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	151,047	112,865
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	151,047	112,865
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	119,843	86,752
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	$ 119,843	$ 86,752

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Rollforward of Level 3 Assets Measured on Recurring Basis (Details) - Fair Value, Recurring Measurements [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021		Sep. 30, 2020
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Level 3 assets, beginning of period		$ 3,336	$ 5,268	$ 2,047	[1]	$ 585	[1]
Net unrealized gains (losses) included in other comprehensive income		1		1	[1]	2	[1]
Realized gains (losses) and accretion (amortization) recognized in earnings		(125)	(444)	(359)	[1]	(452)	[1]
Purchases		2,068	2,999	3,067	[1]	2,999	[1]
Settlements		(1)	(4,624)	(2,191)	[1]	(4,970)	[1]
Transfers into Level 3	[1]			2,714		5,035
Transfers out of Level 3		(1,501)		(1,501)	[1]
Level 3 assets, end of period	[1]	$ 3,778	$ 3,199	$ 3,778		$ 3,199
[1]	Activities for investments that enter Level 3 in one quarter and exit Level 3 in another quarter within the same fiscal year are not eliminated until year-end when only the full year amounts are presented.

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair value security, level 1 to level 2 transfers, amount	$ 0	$ 0	$ 0	$ 0
Fair Value security, level 1 to level 3 transfers, amount	$ 0	$ 0	$ 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		Sep. 30, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		$ 2,595,504	$ 2,464,611
Fixed-maturity security held to maturity, fair value		1,565,048	1,606,208
Short-term investments available-for-sale		40,037
Equity securities		40,946	38,023
Separate account assets		2,672,606	2,659,520
Surplus note		1,375,559	1,345,772
Separate account liabilities		2,672,606	2,659,520
Fixed-maturity security (held-to-maturity)		1,376,090	1,346,350
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		2,595,504	2,464,611
Short-term investments available-for-sale		40,037
Equity securities		40,946	38,023
Trading securities		26,251	16,300
Separate account assets		2,672,606	2,659,520
Separate account liabilities		2,672,606	2,659,520
Reported Value Measurement [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Policy loans	[1]	28,079	30,199
Surplus note	[1],[2]	1,375,559	1,345,772
Fixed-maturity security (held-to-maturity)	[1]	1,376,090	1,346,350
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]	233,307	236,865
Reported Value Measurement [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes	[2],[3]	374,702	374,415
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		2,595,504	2,464,611
Short-term investments available-for-sale		40,037
Equity securities		40,946	38,023
Trading securities		26,251	16,300
Separate account assets		2,672,606	2,659,520
Separate account liabilities		2,672,606	2,659,520
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]	1,565,048	1,606,208
Policy loans	[1]	28,079	30,199
Surplus note	[1],[2]	1,558,422	1,596,599
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]	233,307	236,865
Estimate of Fair Value Measurement [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes	[2],[3]	$ 387,424	$ 399,377
[1]	Classified as a Level 3 fair value measurement.
[2]	Carrying value amounts shown are net of issuance costs
[3]	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)	Sep. 30, 2021	Dec. 31, 2020
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of coinsurance costs	10.00%	10.00%

Reinsurance - In-force Life Ins

Reinsurance - In-force Life Insurance (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Direct life insurance in-force	$ 896,476,313	$ 861,392,223
Amounts ceded to other companies	(770,716,926)	(742,356,917)
Net life insurance in-force	$ 125,759,387	$ 119,035,306
Percentage of reinsured life insurance in-force	86.00%	86.00%

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reinsurance Disclosures [Abstract]
Benefits and claims ceded to reinsurers	$ 486.7	$ 399.7	$ 1,474.6	$ 1,209.3

Reinsurance - Reinsurance Recov

Reinsurance - Reinsurance Recoverables and Financial Strength Ratings by Reinsurer (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ 4,278,322	$ 4,273,904
Pecan Re Inc [Member] | External credit rating, not rated [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1],[2]	2,592,296	2,654,698
SCOR Global Life Reinsurance Companies [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[3]	419,469	395,804
Munich Re of Malta [Member] | External credit rating, not rated [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[2],[4]	278,165	285,350
Swiss Re Life & Health America Inc. [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[5]	259,970	251,409
American Health and Life Insurance Company [Member] | AM Best, B++ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[2]	160,524	163,082
Munich American Reassurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		142,830	137,312
Korean Reinsurance Company [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		129,953	123,568
RGA Reinsurance [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		139,074	125,492
Hannover Life Reassurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		48,544	41,201
TOA Reinsurance Company [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		40,163	34,212
All Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		74,935	68,920
Allowance for Credit Losses [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ (7,601)	$ (7,144)
[1]	Pecan Re Inc. is a wholly owned subsidiary of Swiss Re Life & Health America Inc.
[2]	Reinsurance recoverables includes 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 recoverables from other reinsurers.  Arrangements with these reinsurers include collateral trust agreements held in support of reinsurance recoverables.
[3]	Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies.
[4]	Entity is rated AA- by S&P.
[5]	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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reinsurance Disclosures [Abstract]
Balance, beginning of period	$ 7,654	$ 5,602	$ 7,144	$ 3,917
Current period provision for expected credit losses			510	1,685
Less: Recoveries from expected credit losses previously recorded	(53)	(8)	(53)	(8)
Balance, at the end of period	$ 7,601	$ 5,594	$ 7,601	$ 5,594

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		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Roll Forward In Liability For Unpaid Claims And Claims Adjustment Expense [Abstract]
Policy claims and other benefits payable, beginning of period		$ 519,711	$ 339,954
Reinsured policy claims and other benefits payable, beginning of period		545,857	388,797
Net balance, beginning of period		(26,146)	(48,843)
Incurred related to current year		207,542	171,485
Incurred related to prior years	[1]	(121)	(4,145)
Total incurred		207,421	167,340
Claims paid related to current year, net of reinsured policy claims received		(276,730)	(208,117)
Reinsured policy claims received related to prior years, net of claims paid		36,439	60,355
Total paid		(240,291)	(147,762)
Foreign currency translation		44	(165)
Net balance, end of period		(58,972)	(29,430)
Reinsured policy claims and other benefits payable, end of period		616,097	497,039
Policy claims and other benefits payable, end of period		$ 557,125	$ 467,609
[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.

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Number of Shares of Common Stock (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Stockholders Equity Note [Abstract]
Common stock, beginning of period	39,306	41,207
Shares issued for stock options exercised	10
Shares of common stock issued upon lapse of restricted stock units (“RSUs”)	204	287
Common stock retired	(49)	(2,120)
Common stock, end of period	39,471	39,374

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Feb. 09, 2021
Class Of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount	$ 300,000
New Repurchase [Member]
Class Of Stock [Line Items]
Stock repurchased program, authorized amount		$ 300,000
Stock repurchased during period, shares	0
Obligation to stock repurchased during period, value	$ 0
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	269,745
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	73,062

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 112,456	$ 112,101	$ 338,489	$ 286,080
Income attributable to unvested participating securities, basic EPS	(458)	(493)	(1,403)	(1,239)
Net income used in calculating basic EPS	$ 111,998	$ 111,608	$ 337,086	$ 284,841
Weighted-average vested shares	39,561	39,588	39,516	40,281
Basic EPS	$ 2.83	$ 2.82	$ 8.53	$ 7.07
Income attributable to unvested participating securities, diluted EPS	$ (457)	$ (492)	$ (1,399)	$ (1,236)
Net income used in calculating diluted EPS	$ 111,999	$ 111,609	$ 337,090	$ 284,844
Dilutive effect of incremental shares to be issued for contingently-issuable shares	118	122	121	115
Weighted-average shares used in calculating diluted EPS	39,679	39,710	39,637	40,396
Diluted EPS	$ 2.82	$ 2.81	$ 8.50	$ 7.05

Share-Based Transactions - Impa

Share-Based Transactions - Impact of Equity Awards Granted (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards expense recognized	$ 2,369	$ 2,219	$ 16,561	$ 15,737
Expense Deferred [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards expense deferred	$ 2,048	$ 2,542	$ 7,227	$ 7,501

Share-Based Transactions - Narr

Share-Based Transactions - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 24, 2021	Sep. 30, 2021	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Net decrease in equity awards expense recognized		$ (1)	$ (1)
Restricted stock units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares awarded	73,705
Measurement date fair value	$ 143.04
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	21,845
Measurement date fair value	$ 143.04
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Performance share units (PSUs) [Member] | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of PSUs vested during the period	32,767
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

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Narrative (Details) $ in Millions	Sep. 30, 2021USD ($)
Letter of Credit [Member]
Commitments And Contingent Liabilities [Line Items]
Letter of credit, outstanding	$ 166.4

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses)	$ (5,892)	$ 6,312	$ 6,490	$ (9,055)
Change in unrealized foreign currency translation gains (losses), net of income taxes	(5,892)	6,312	6,490	(9,055)
Unrealized gain (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) arising during period before income taxes	(13,796)	15,347	(52,669)	49,624
Income tax expense (benefit) on unrealized holding gains (losses) arising during period	(2,991)	3,276	(11,653)	10,900
Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes	(10,805)	12,071	(41,016)	38,724
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities	(1,879)	(50)	(3,052)	3,128
Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income	(395)	(11)	(641)	657
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes	(1,484)	(39)	(2,411)	2,471
Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment	$ (12,289)	$ 12,032	$ (43,427)	$ 41,195

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Jul. 01, 2021	Jun. 22, 2021	Sep. 30, 2021
Debt Instrument [Line Items]
Proceeds from revolving credit facility			$ 125,000,000
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
Maximum
Debt Instrument [Line Items]
Debt instrument, face amount			1,500,000,000
Maximum | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage		0.225%
Maximum | LIBOR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin		1.625%
Maximum | 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] | LIBOR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin		1.00%
Minimum [Member] | Base Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin		0.00%
Etelequote Bermuda [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Proceeds from revolving credit facility			125,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 375,000,000
Debt instrument, interest rate, stated percentage			4.75%
Debt instrument maturity date			Jul. 15, 2022
Unsecured Subordinated Note [Member] | Etelequote Bermuda [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 15,000,000
Debt instrument maturity date	Jul. 1, 2022
Rate of interest payable	1.50%
Surplus Note [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 1,400,000,000
Debt instrument, interest rate, stated percentage			4.50%
Debt instrument maturity date			Dec. 31, 2030

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	$ 693,239	$ 568,461	$ 1,985,638	$ 1,619,213
Term Life Insurance Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	401,451	357,799	1,167,016	1,013,778
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	12,476	12,717	36,601	34,311
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	12,476	12,717	36,601	34,311
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	388,975	345,082	1,130,415	979,467
Investment and Savings Products Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	233,337	176,337	694,770	525,551
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	216,963	161,612	646,566	482,945
Investment and Savings Products 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	3,094	3,034	9,001	8,322
Investment and Savings Products 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	95,229	65,600	298,057	209,304
Investment and Savings Products 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	97,184	71,970	275,084	203,629
Investment and Savings Products 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	21,456	21,008	64,424	61,690
Investment and Savings Products 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	16,374	14,725	48,204	42,606
Corporate and Other Distributed Products Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	35,515	34,325	100,916	79,884
Corporate and Other Distributed Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	19,098	12,922	50,180	32,672
Corporate and Other Distributed Products 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	1,103	923	2,978	2,742
Corporate and Other Distributed Products 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	17,995	11,999	47,202	29,930
Corporate and Other Distributed Products 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	16,417	$ 21,403	50,736	$ 47,212
Senior Health Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	22,936		22,936
Senior Health Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	22,936		22,936
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	1,378		1,378
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	$ 21,558		$ 21,558

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Renewal Commissions Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Senior Health Segment [Member]
Disaggregation Of Revenue [Line Items]
Contract balances acquired as part of business combination	$ 199,575		$ 199,575
Commissions revenue	16,526		16,526
Less: collections	(6,842)		(6,842)
Balance, at the end of period	209,259		209,259
Corporate and Other Distributed Products Segment [Member]
Disaggregation Of Revenue [Line Items]
Balance, beginning of period	56,683	$ 52,523	54,845	$ 51,701
Commissions revenue	8,810	6,618	21,969	18,435
Less: collections	(5,800)	(5,579)	(17,121)	(16,574)
Balance, at the end of period	$ 59,693	$ 53,562	$ 59,693	$ 53,562

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Estimate adjustments to contract asset	$ 0	$ 0	$ 0	$ 0
Assets recognized for incremental costs	$ 0		$ 0

Acquisition - (Narrative) (Deta

Acquisition - (Narrative) (Details) - USD ($)	Jul. 01, 2021	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Payments to Acquire Business			$ 494,459,000
Etelequote Bermuda [Member]
Business Acquisition [Line Items]
Business Acquisition, Date of Acquisition Agreement	Jul. 1, 2021
Percentage of interest acquired	80.00%
Percentage of voting interests acquired	100.00%
Amount paid-off in acquisition	$ 146,000,000
Payments to Acquire Business	$ 350,000,000
Percentage Of Common Stock Issued And Outstanding	20.00%
Shareholders Form Earnout Payment	$ 25,000,000
Contingent consideration	50,000,000
Earnout liability recognized at acquisition date	0
Business combination, recognized identifiable assets acquired and liabilities assumed, intangible assets	162,000,000
Business combination recognized identifiable asset acquired and liability assumed, liability-classified equity shares not subject to forfeiture	3,000,000
Etelequote Bermuda [Member] | Other Operating Expenses [Member]
Business Acquisition [Line Items]
Transaction costs related to acquisition		$ 10,000,000	$ 12,100,000
Etelequote Bermuda [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, intangible assets	$ 159,000
Estimated useful life	15 years		15 years
Etelequote Bermuda [Member] | Unsecured Subordinated Note [Member]
Business Acquisition [Line Items]
Debt instrument, face amount	$ 15,000,000

Acquisition - Summary of Identi

Acquisition - Summary of Identified Assets Acquired and Liabilities Assumed at Acquisition Date (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 01, 2021
Assets:
Goodwill	$ 224,180
Etelequote Bermuda [Member]
Assets:
Cash and cash equivalent		$ 1,080
Accounts receivables		692
Renewal commissions receivable		199,575
Other assets		15,705
Intangible assets		162,000
Goodwill		224,180
Total assets		603,232
Liabilities:
Accounts payable and accrued expenses		8,785
Deferred tax liability		65,425
Other liabilities		10,046
Total liabilities		84,256
Net assets acquired		518,976
Temporary Stockholders' Equity:
Redeemable noncontrolling interests		8,437
Total temporary stockholders' equity		$ 8,437

Acquisition - Summary of Unaudi

Acquisition - Summary of Unaudited Actual Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Revenues	$ 693,239	$ 568,461	$ 1,985,638	$ 1,619,213
Net income (loss)	112,456	$ 112,101	338,489	$ 286,080
Etelequote Bermuda [Member]
Business Acquisition [Line Items]
Revenues	22,936		22,936
Net income (loss)	$ (7,349)		$ (7,349)

Acquisition - Summary of Unau_2

Acquisition - Summary of Unaudited Proforma Information (Details) - Etelequote Bermuda [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Revenue	$ 693,240	$ 598,272	$ 2,050,898	$ 1,711,256
Net income (loss)	$ 108,873	$ 107,806	$ 326,770	$ 288,017