Protective Life Insurance 10-K 18 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 14, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	PROTECTIVE LIFE INSURANCE CO
Entity Central Index Key	310,826
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		5,000,000
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Net of reinsurance ceded	$ 168,950
Benefits and expenses
Amortization of deferred policy acquisition costs and value of business acquired	4,817
Successor
Revenues
Premiums and policy fees		$ 2,992,822
Reinsurance ceded		(1,174,871)
Net of reinsurance ceded		1,817,951
Net investment income		1,532,796
Realized investment gains (losses):
Derivative financial instruments		58,436
All other investments		(166,935)
Other-than-temporary impairment losses		(28,659)
Portion recognized in other comprehensive income (before taxes)		1,666
Net impairment losses recognized in earnings		(26,993)
Other income		271,787
Total revenues		3,487,042
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (Successor 2015 - $1,022,638); (Predecessor 2015 - $87,830; 2014 - $1,223,804; 2013 - $1,207,781)		2,535,388
Amortization of deferred policy acquisition costs and value of business acquired		95,064
Other operating expenses, net of reinsurance ceded: (Successor 2015 - $196,383); (Predecessor 2015 - $17,700; 2014 - $199,824; 2013 - $199,079)		602,402
Total benefits and expenses		3,232,854
Income before income tax		254,188
Income tax (benefit) expense
Current		46,722
Deferred		27,769
Total income tax expense		74,491
Net income		$ 179,697
Predecessor
Revenues
Premiums and policy fees	260,582		$ 3,283,069	$ 2,967,322
Reinsurance ceded	(91,632)		(1,395,743)	(1,387,437)
Net of reinsurance ceded	168,950		1,887,326	1,579,885
Net investment income	164,605		2,098,013	1,836,188
Realized investment gains (losses):
Derivative financial instruments	22,031		(13,492)	82,161
All other investments	81,153		205,302	(121,537)
Other-than-temporary impairment losses	(636)		(2,589)	(10,941)
Portion recognized in other comprehensive income (before taxes)	155		(4,686)	(11,506)
Net impairment losses recognized in earnings	(481)		(7,275)	(22,400)
Other income	23,388		294,333	250,420
Total revenues	459,646		4,464,207	3,604,670
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (Successor 2015 - $1,022,638); (Predecessor 2015 - $87,830; 2014 - $1,223,804; 2013 - $1,207,781)	266,575		2,786,463	2,473,988
Amortization of deferred policy acquisition costs and value of business acquired	4,817		308,320	154,660
Other operating expenses, net of reinsurance ceded: (Successor 2015 - $196,383); (Predecessor 2015 - $17,700; 2014 - $199,824; 2013 - $199,079)	55,407		630,635	553,523
Total benefits and expenses	326,799		3,725,418	3,182,171
Income before income tax	132,847		738,789	422,499
Income tax (benefit) expense
Current	(47,384)		181,763	(18,298)
Deferred	91,709		65,075	149,195
Total income tax expense	44,325		246,838	130,897
Net income	$ 88,522		$ 491,951	$ 291,602

CONSOLIDATED STATEMENTS OF INC3

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Benefits and settlement expenses, reinsurance ceded		$ 1,022,638
Other operating expenses, reinsurance ceded		$ 196,383
Predecessor
Benefits and settlement expenses, reinsurance ceded	$ 87,830		$ 1,223,804	$ 1,207,781
Other operating expenses, reinsurance ceded	$ 17,700		$ 199,824	$ 199,079

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Net income		$ 179,697
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax: (Successor 2015 - $(680,274)); (Predecessor 2015 - $259,616; 2014 - $529,838; 2013 - $(673,302))		(1,263,367)
Reclassification adjustment for investment amounts included in net income, net of income tax: (Successor 2015 - $9,352); (Predecessor 2015 - $(2,244); 2014 - $(23,903); 2013 - $(15,396))		17,369
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (Successor 2015 - $(212)); (Predecessor 2015 - $(131); 2014 - $1,883; 2013 - $2,472)		(393)
Change in accumulated (loss) gain - derivatives, net of income tax: (Successor 2015 - $(45)); (Predecessor 2015 - $5; 2014 - $(1); 2013 - $395)		(86)
Reclassification adjustment for derivative amounts included in net income, net of income tax: (Successor 2015 - $45); (Predecessor 2015 - $13; 2014 - $622; 2013 - $822)		86
Total other comprehensive income (loss)		(1,246,391)
Total comprehensive income (loss)		$ (1,066,694)
Predecessor
Net income	$ 88,522		$ 491,951	$ 291,602
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax: (Successor 2015 - $(680,274)); (Predecessor 2015 - $259,616; 2014 - $529,838; 2013 - $(673,302))	482,143		983,985	(1,250,416)
Reclassification adjustment for investment amounts included in net income, net of income tax: (Successor 2015 - $9,352); (Predecessor 2015 - $(2,244); 2014 - $(23,903); 2013 - $(15,396))	(4,166)		(44,391)	(28,594)
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (Successor 2015 - $(212)); (Predecessor 2015 - $(131); 2014 - $1,883; 2013 - $2,472)	(243)		3,498	4,591
Change in accumulated (loss) gain - derivatives, net of income tax: (Successor 2015 - $(45)); (Predecessor 2015 - $5; 2014 - $(1); 2013 - $395)	9		(2)	734
Reclassification adjustment for derivative amounts included in net income, net of income tax: (Successor 2015 - $45); (Predecessor 2015 - $13; 2014 - $622; 2013 - $822)	23		1,155	1,527
Total other comprehensive income (loss)	477,766		944,245	(1,272,158)
Total comprehensive income (loss)	$ 566,288		$ 1,436,196	$ (980,556)

CONSOLIDATED STATEMENTS OF COM5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Change in net unrealized gains (losses) on investments, income tax		$ (680,724)
Reclassification adjustment for investment amounts included in net income, income tax		9,352
Change in net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax		(212)
Change in accumulated gain - derivatives, income tax		(45)
Reclassification adjustment for derivative amounts included in net income, income tax		$ 45
Predecessor
Change in net unrealized gains (losses) on investments, income tax	$ 259,616		$ 529,838	$ (673,302)
Reclassification adjustment for investment amounts included in net income, income tax	(2,244)		(23,903)	(15,396)
Change in net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(131)		1,883	2,472
Change in accumulated gain - derivatives, income tax	5		(1)	395
Reclassification adjustment for derivative amounts included in net income, income tax	$ 13		$ 622	$ 822

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Assets
Fixed maturities, at fair value (amortized cost: 2015 Successor - $38,389,859; 2014 Predecessor - $33,716,848)	$ 35,507,098
Fixed maturities, at amortized cost (fair value: 2015 Successor - $515,000; 2014 Predecessor - $485,422)	593,314
Equity securities, at fair value (cost: 2015 Successor - $693,147; 2014 Predecessor - $735,297)	699,925
Mortgage loans (related to securitizations: 2015 Successor - $359,181; 2014 Predecessor - $455,250)	5,662,812
Investment real estate, net of accumulated depreciation (2015 Successor - $133; 2014 Predecessor - $246)	11,118
Policy loans	1,699,508
Other long-term investments	594,036
Short-term investments	263,837
Total investments	45,031,648
Cash	212,358
Accrued investment income	472,694
Accounts and premiums receivable	54,054
Reinsurance receivables	5,307,556
Deferred policy acquisition costs and value of business acquired	1,562,373
Goodwill	732,443
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)	645,131
Property and equipment, net of accumulated depreciation (2015 Successor - $7,908; 2014 Predecessor - $116,688)	101,600
Other assets	255,283
Income tax receivable	0
Assets related to separate accounts
Variable annuity	12,829,188
Variable universal life	827,610
Total assets	68,031,938
Liabilities
Future policy benefits and claims	29,703,190
Unearned premiums	651,205
Total policy liabilities and accruals	30,354,395
Stable value product account balances	2,131,822
Annuity account balances	10,719,862
Other policyholders’ funds	1,069,572
Other liabilities	1,230,500
Income tax payable	76,584
Deferred income taxes	1,215,180
Non-recourse funding obligations	1,951,563
Repurchase program borrowings	438,185
Liabilities related to separate accounts
Variable annuity	12,829,188
Variable universal life	827,610
Total liabilities	$ 62,844,461
Commitments and contingencies - Note 13
Shareowner's equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000	$ 2
Common Stock; $1 par value, shares authorized and issued: 2015 and 2014 - 5,000,000	5,000
Additional paid-in-capital	6,274,169
Retained earnings	154,697
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2015 Successor - $(670,922); 2014 Predecessor - $796,488)	(1,245,998)
Net unrealized (losses) gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2015 Successor - $(212); 2014 Predecessor - $2,208)	(393)
Accumulated loss - derivatives, net of income tax: (2015 Successor - $0; 2014 Predecessor - $(45))	0
Total shareowner’s equity	5,187,477
Total liabilities and shareowner’s equity	$ 68,031,938
Predecessor
Assets
Fixed maturities, at fair value (amortized cost: 2015 Successor - $38,389,859; 2014 Predecessor - $33,716,848)		$ 36,756,240
Fixed maturities, at amortized cost (fair value: 2015 Successor - $515,000; 2014 Predecessor - $485,422)		435,000
Equity securities, at fair value (cost: 2015 Successor - $693,147; 2014 Predecessor - $735,297)		756,790
Mortgage loans (related to securitizations: 2015 Successor - $359,181; 2014 Predecessor - $455,250)		5,133,780
Investment real estate, net of accumulated depreciation (2015 Successor - $133; 2014 Predecessor - $246)		5,918
Policy loans		1,758,237
Other long-term investments		491,282
Short-term investments		246,717
Total investments		45,583,964
Cash		268,286
Accrued investment income		474,095
Accounts and premiums receivable		81,137
Reinsurance receivables		5,907,662
Deferred policy acquisition costs and value of business acquired		3,155,046
Goodwill		77,577
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)		0
Property and equipment, net of accumulated depreciation (2015 Successor - $7,908; 2014 Predecessor - $116,688)		51,760
Other assets		398,574
Income tax receivable		1,648
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets		69,992,118
Liabilities
Future policy benefits and claims		29,944,477
Unearned premiums		1,515,001
Total policy liabilities and accruals		31,459,478
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Other policyholders’ funds		1,430,325
Other liabilities		1,178,962
Income tax payable		0
Deferred income taxes		1,611,864
Non-recourse funding obligations		1,527,752
Repurchase program borrowings		50,000
Liabilities related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total liabilities		$ 64,160,967
Commitments and contingencies - Note 13
Shareowner's equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000		$ 2
Common Stock; $1 par value, shares authorized and issued: 2015 and 2014 - 5,000,000		5,000
Additional paid-in-capital		1,437,787
Retained earnings		2,905,151
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2015 Successor - $(670,922); 2014 Predecessor - $796,488)		1,479,192
Net unrealized (losses) gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2015 Successor - $(212); 2014 Predecessor - $2,208)		4,101
Accumulated loss - derivatives, net of income tax: (2015 Successor - $0; 2014 Predecessor - $(45))		(82)
Total shareowner’s equity		5,831,151
Total liabilities and shareowner’s equity		$ 69,992,118

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Fixed maturities, amortized cost	$ 38,389,859
Fair Value	515,000
Equity securities, cost	693,147
Mortgage loans, securitizations	359,181
Investment real estate, accumulated depreciation	133
Other intangibles, accumulated depreciation	37,869
Property and equipment, accumulated depreciation	$ 7,908
Preferred Stock, par value (in dollars per share)	$ 1
Preferred Stock, shares authorized (in shares)	2,000
Preferred Stock, Liquidation preference	$ 2,000
Common Stock, par value (in dollars per share)	$ 1
Common Stock, shares authorized (in shares)	5,000,000
Common Stock, shares issued (in shares)	5,000,000
Net unrealized gains on investments, income tax	$ (670,922)
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(212)
Accumulated loss - derivatives, income tax	$ 0
Predecessor
Fixed maturities, amortized cost		$ 33,716,848
Fair Value		485,422
Equity securities, cost		735,297
Mortgage loans, securitizations		455,250
Investment real estate, accumulated depreciation		246
Other intangibles, accumulated depreciation		0
Property and equipment, accumulated depreciation		$ 116,688
Preferred Stock, par value (in dollars per share)		$ 1
Preferred Stock, shares authorized (in shares)		2,000
Preferred Stock, Liquidation preference		$ 2,000
Common Stock, par value (in dollars per share)		$ 1
Common Stock, shares authorized (in shares)		5,000,000
Common Stock, shares issued (in shares)		5,000,000
Net unrealized gains on investments, income tax		$ 796,488
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax		2,208
Accumulated loss - derivatives, income tax		$ (45)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREOWNER'S EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss).
Balance (Predecessor) at Dec. 31, 2012	$ 5,687,213	$ 2	$ 5,000	$ 1,363,258	$ 2,507,829	$ 1,811,124
Increase (decrease) in shareowner's equity
Net income | Predecessor	291,602				291,602
Other comprehensive income (loss) | Predecessor	(1,272,158)					(1,272,158)
Total comprehensive income (loss) | Predecessor	(980,556)
Capital contributions | Predecessor	70,000			70,000
Dividends paid to the parent company | Predecessor	(86,231)				(86,231)
Balance (Predecessor) at Dec. 31, 2013	4,690,426	2	5,000	1,433,258	2,713,200	538,966
Increase (decrease) in shareowner's equity
Net income | Predecessor	491,951				491,951
Other comprehensive income (loss) | Predecessor	944,245					944,245
Total comprehensive income (loss) | Predecessor	1,436,196
Capital contributions | Predecessor	4,529			4,529
Dividends paid to the parent company | Predecessor	(300,000)				(300,000)
Balance (Predecessor) at Dec. 31, 2014	5,831,151	2	5,000	1,437,787	2,905,151	1,483,211
Increase (decrease) in shareowner's equity
Net income | Predecessor	88,522				88,522
Other comprehensive income (loss) | Predecessor	477,766					477,766
Total comprehensive income (loss) | Predecessor	566,288
Balance (Predecessor) at Jan. 31, 2015	6,397,439	2	5,000	1,437,787	2,993,673	1,960,977
Balance (Successor) at Jan. 31, 2015	6,509,213	2	5,000	6,504,211	0	0
Increase (decrease) in shareowner's equity
Net income | Successor	179,697				179,697
Other comprehensive income (loss) | Successor	(1,246,391)					(1,246,391)
Total comprehensive income (loss) | Successor	(1,066,694)
Dividends paid to the parent company | Successor	(25,000)				(25,000)
Return of capital | Successor	(230,042)			(230,042)
Balance (Successor) at Dec. 31, 2015	$ 5,187,477	$ 2	$ 5,000	$ 6,274,169	$ 154,697	$ (1,246,391)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred policy acquisition costs and value of business acquired	$ 4,817
Successor
Cash flows from operating activities
Net income		$ 179,697
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)		135,492
Amortization of deferred policy acquisition costs and value of business acquired		95,064
Capitalization of deferred policy acquisition costs		(300,190)
Depreciation expense		45,829
Deferred income tax		27,769
Accrued income tax		126,701
Interest credited to universal life and investment products		682,836
Policy fees assessed on universal life and investment products		(1,056,092)
Change in reinsurance receivables		231,081
Change in accrued investment income and other receivables		25,259
Change in policy liabilities and other policyholders’ funds of traditional life and health products		(176,920)
Trading securities:
Maturities and principal reductions of investments		114,501
Sale of investments		135,465
Cost of investments acquired		(220,094)
Other net change in trading securities		73,376
Amortization of premiums and accretion of discounts on investments and mortgage loans		373,362
Change in other liabilities		6,336
Other income - gains on repurchase of non-recourse funding obligations		0
Other, net		(46,128)
Net cash provided by operating activities		453,344
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale		1,052,198
Sale of investments, available-for-sale		1,334,251
Cost of investments acquired, available-for-sale		(3,496,997)
Change in investments, held-to-maturity		(65,000)
Mortgage loans:
New lendings		(1,466,020)
Repayments		1,306,034
Change in investment real estate, net		(3,662)
Change in policy loans, net		52,364
Change in other long-term investments, net		(73,948)
Change in short-term investments, net		(11,271)
Net unsettled security transactions		(64,615)
Purchase of property and equipment		(6,823)
Payments for business acquisitions, net of cash acquired		0
Net cash (used in) provided by investing activities		(1,443,489)
Cash flows from financing activities
Issuance (repayment) of non-recourse funding obligations		65,000
Repurchase program borrowings		388,185
Capital contributions from PLC		0
Dividends/Return of capital to the parent company		(255,042)
Investment product deposits and change in universal life deposits		3,064,373
Investment product withdrawals		(2,438,916)
Other financing activities, net		0
Net cash provided by (used in) financing activities		823,600
Change in cash		(166,545)
Cash at beginning of period		378,903
Cash at end of period	378,903	212,358
Predecessor
Cash flows from operating activities
Net income	88,522		$ 491,951	$ 291,602
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)	(102,703)		(184,535)	61,823
Amortization of deferred policy acquisition costs and value of business acquired	4,817		308,320	154,660
Capitalization of deferred policy acquisition costs	(22,799)		(293,612)	(345,885)
Depreciation expense	796		7,401	6,595
Deferred income tax	91,709		65,075	149,195
Accrued income tax	(48,469)		10,751	70,749
Interest credited to universal life and investment products	79,088		824,418	875,180
Policy fees assessed on universal life and investment products	(90,288)		(1,038,180)	(894,176)
Change in reinsurance receivables	(98,148)		100,348	97,523
Change in accrued investment income and other receivables	(1,285)		14,332	(34,551)
Change in policy liabilities and other policyholders’ funds of traditional life and health products	176,119		92,823	95,421
Trading securities:
Maturities and principal reductions of investments	17,946		114,793	179,180
Sale of investments	26,422		353,250	256,938
Cost of investments acquired	(27,289)		(320,928)	(380,836)
Other net change in trading securities	(26,901)		(69,641)	38,999
Amortization of premiums and accretion of discounts on investments and mortgage loans	3,420		52,770	(4,922)
Change in other liabilities	211,031		197,442	(78,240)
Other income - gains on repurchase of non-recourse funding obligations	0		(7,393)	(15,379)
Other, net	(133,928)		(75,731)	18,601
Net cash provided by operating activities	148,060		643,654	542,477
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale	59,028		1,198,690	1,094,862
Sale of investments, available-for-sale	200,716		2,273,909	3,241,559
Cost of investments acquired, available-for-sale	(150,030)		(3,602,600)	(5,079,971)
Change in investments, held-to-maturity	0		(70,000)	(65,000)
Mortgage loans:
New lendings	(100,530)		(925,910)	(583,697)
Repayments	45,741		1,285,489	861,562
Change in investment real estate, net	7		13,032	(10,356)
Change in policy loans, net	6,365		57,507	17,181
Change in other long-term investments, net	(25,372)		(87,522)	(231,653)
Change in short-term investments, net	(39,312)		(71,015)	147,477
Net unsettled security transactions	37,510		30,212	7,373
Purchase of property and equipment	(648)		(8,088)	(10,275)
Payments for business acquisitions, net of cash acquired	0		(906)	(471,714)
Net cash (used in) provided by investing activities	33,475		92,798	(1,082,652)
Cash flows from financing activities
Issuance (repayment) of non-recourse funding obligations	0		32,348	46,000
Repurchase program borrowings	0		(300,000)	200,000
Capital contributions from PLC	0		4,529	70,000
Dividends/Return of capital to the parent company	0		(300,000)	(44,963)
Investment product deposits and change in universal life deposits	169,233		2,576,727	3,219,561
Investment product withdrawals	(240,147)		(2,827,305)	(2,874,426)
Other financing activities, net	(4)		(44)	0
Net cash provided by (used in) financing activities	(70,918)		(813,745)	616,172
Change in cash	110,617		(77,293)	75,997
Cash at beginning of period	268,286	$ 378,903	345,579	269,582
Cash at end of period	$ 378,903		$ 268,286	$ 345,579

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation Protective Life Insurance Company (the “Company”), a stock life insurance company, was founded in 1907. The Company is a wholly owned subsidiary of Protective Life Corporation (“PLC”), an insurance holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. On February 1, 2015, PLC became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Limited, a kabushiki kaisha organized under the laws of Japan (“Dai-ichi Life”), when DL Investment (Delaware), Inc., a wholly owned subsidiary of Dai-ichi Life, merged with and into PLC (the "Merger"). Prior to February 1, 2015, and for the periods reported as "predecessor", PLC’s stock was publicly traded on the New York Stock Exchange. Subsequent to the Merger date, the Company remains an SEC registrant within the United States. The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The Company also maintains a separate segment devoted to the acquisition of insurance policies from other companies. The Merger was accounted for by PLC under the acquisition method of accounting under ASC Topic 805 Business Combinations . In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. PLC elected to apply “pushdown” accounting by applying the guidance allowed by ASC Topic 805, Business Combinations , including the initial recognition of most of PLC's assets and liabilities at fair value as of the acquisition date, and similarly recognizing goodwill calculated based on the terms of the transaction and the fair value of the new basis of net assets of PLC. The new basis of accounting will be the basis of the accounting records in the preparation of future financial statements and related disclosures after the Merger date. Goodwill of $735.7 million was recorded as of the acquisition date which represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in the Merger, and reflects the Company’s assembled workforce, future growth potential and other sources of value not associated with identifiable assets. During the measurement period subsequent to February 1, 2015, the Company has made adjustments to provisional amounts related to certain tax balances that resulted in a decrease to goodwill of $3.3 million from the amount recorded at the Merger date. The balance of goodwill associated with the Merger as of December 31, 2015 (Successor Company) is $732.4 million . The Merger was accounted for by the Company in a manner consistent with that utilized by PLC. In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. In conjunction with PLC’s and the Company’s election to apply “pushdown” accounting to reflect the impact of the transaction and the new basis of net assets recorded as of February 1, 2015, the entire amount of goodwill and other identifiable intangible assets recognized by PLC were allocated to the Company. This was supported by the fact that the Company is the primary operating subsidiary of PLC and the workforce, distribution and sales organization, current and future policy and portfolio cash flows, and other items for which the transaction was primarily based are consistent between PLC and the Company. As such, the entire balance of goodwill is included in the new basis of net assets of the Company. The new basis of accounting will be the basis of the accounting records in the preparation of future financial statements and related disclosures after the Merger date. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such accounting principles differ from statutory reporting practices used by insurance companies in reporting to state regulatory authorities (see also Note 21, Statutory Reporting Practices and Other Regulatory Matters ). The operating results of companies in the insurance industry have historically been subject to significant fluctuations due to changing competition, economic conditions, interest rates, investment performance, insurance ratings, claims, persistency, and other factors. Entities Included The consolidated financial statements include the accounts of Protective Life Insurance Company and its affiliate companies in which the Company holds a majority voting or economic interest. Intercompany balances and transactions have been eliminated.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs ("DAC") and related amortization periods, goodwill recoverability, value of business acquired ("VOBA"), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters. Significant Accounting Policies Valuation of Investment Securities The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a "waterfall" approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations ("CMOs"), and mortgage-backed securities ("MBS") are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures ("CUSIP") level. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded. Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company's intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security's amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer's industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company's expectations for recovery of the security's entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security's basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than-temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security's amortized cost are written down to discounted expected future cash flows ("post impairment cost") and credit losses are recorded in earnings. The difference between the securities' discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities ("RMBS"), commercial mortgage-backed securities ("CMBS"), and other asset-backed securities (collectively referred to as asset-backed securities or "ABS"), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings. Cash Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank. Such negative balances are included in other liabilities and were $70.3 million as of December 31, 2015 (Successor Company) and was immaterial as of December 31, 2014 (Predecessor Company), respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss. Deferred Policy Acquisition Costs The incremental direct costs associated with successfully acquired insurance policies are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization. The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 8% ) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method. Value of Businesses Acquired In conjunction with the Merger, a portion of the purchase price was allocated to the right to receive future gross profits from cash flows and earnings of the Company's insurance policies and investment contracts as of the date of the Merger. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from the Company's insurance policies and investment contracts in-force on the date of the Merger. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins ("EGMs") for participating traditional life products within the MONY Life Insurance Company ("MONY") block. For interest sensitive products, the Company uses various amortization bases including expected gross profits ("EGPs"), revenues, or insurance in-force. VOBA is subject to annual recoverability testing. Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, and technology. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value as of the Merger date and will be depreciated from this basis in future periods based on the respective estimated useful lives. Real estate assets were recorded at appraised values as of the acquisition date. The Company has estimated the remaining useful life of the home office building to be 25 years . Land is not depreciated. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and software and computers are depreciated over a three year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income. Property and equipment consisted of the following: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Home office building $ 90,617 $ 75,109 Data processing equipment 14,607 40,568 Other, principally furniture and equipment 4,284 52,771 109,508 168,448 Accumulated depreciation (7,908 ) (116,688 ) Total property and equipment $ 101,600 $ 51,760 Separate Accounts The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder's equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income. Stable Value Product Account Balances The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank ("FHLB"), and markets guaranteed investment contracts ("GICs") to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. During 2015, the Company terminated its funding agreement-backed notes program registered with the United States Securities and Exchange Commission (the “SEC”) and, on October 2, 2015, established an unregistered funding agreement-backed notes program. The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of the Company as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had $400.7 million and $39.8 million , respectively, of stable value product account balances marketed through structured programs. Most GICs and funding agreements the Company has written have maturities of one to ten years . As of December 31, 2015 (Successor Company), future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2016 $ 534.7 2017 - 2018 1,068.1 2019 - 2020 451.2 Thereafter 62.3 Derivative Financial Instruments The Company records its derivative financial instruments in the consolidated balance sheet in "other long-term investments" and "other liabilities" in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company's hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in "Realized investment gains (losses)—Derivative financial instruments". For additional information, see Note 23, Derivative Financial Instruments . Insurance Liabilities and Reserves Establishing an adequate liability for the Company's obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company's historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company's property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company's results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company's reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments. Guaranteed Minimum Withdrawal Benefits The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current implied volatilities for the equity indices. The fair value of the GMWB is impacted by equity market conditions and can result in the GMWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GMWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GMWB embedded derivative liability. The methods used to estimate the embedded derivatives employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. In conjunction with the Merger, the Company updated the fair value of the GMWB reserves to reflect current assumptions as of February 1, 2015 (Successor Company). As a result of the application of ASC Topic 805, the Company reset the hedge premium rates utilized in the valuation for all policies to be equal to the present value of future claims with the reset hedge premium rates being capped at the actual charges to the policyholder. This update resulted in a decrease in the net liability of approximately $69.4 million on the Merger date. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC. As of December 31, 2015 (Successor Company), the Company’s net GMWB liability held, including the impact of reinsurance, was $18.5 million . Goodwill Accounting for goodwill requires an estimate of the future profitability of the associated lines of business to assess the recoverability of the capitalized acquisition goodwill. The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If it is determined that it is more likely than not that impairment exists, the Company compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit's carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The Company's material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The cash flows used to determine the fair value of the Company's reporting units are dependent on a number of significant assumptions. The Company's estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions. On the date of the Merger, goodwill of $735.7 million was recognized as the excess of the purchase consideration over the fair value of identifiable assets acquired and liabilities assumed. During the measurement period subsequent to February 1, 2015, the Company has made adjustments to provisional amounts related to certain tax balances that resulted in a decrease to goodwill of $3.3 million from the amount recorded at the Merger date. The balance of goodwill associated with the Merger as of December 31, 2015 (Successor Company) is $732.4 million . The balance recognized as goodwill is not amortized, but is reviewed for impairment on an annual basis, or more frequently as events or circumstances may warrant, including those circumstances which would more likely than not reduce the fair value of the Company’s reporting units below its carrying amount. During the fourth quarter of 2015, the Company performed its annual evaluation of goodwill based on information as of September 30, 2015 (Successor Company) and determined that no adjustment to impair goodwill was necessary. The Company has assessed whether events have occurred subsequent to September 30, 2015 that would impact the Company's conclusion and no such events were identified. As of December 31, 2015 (Successor Company), the Company had goodwill of $732.4 million . Income Taxes The Company uses the asset and liability method of accounting for income taxes. In general, income tax provisions are based on the income reported for financial statement purposes. Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to net unrealized gains (losses), deferred policy acquisition costs and value of business acquired, and future policy benefits and claims. The Company analyzes whether it needs to establish a valuation allowance on each of its deferred tax assets. In performing this analysis, the Company first considers the need for a valuation allowance on each separate deferred tax asset. Ultimately, it analyzes this need in the aggregate in order to prevent the double-counting of expected future taxable income in each of the foregoing separate analyses. Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available-for-sale, or held-to-maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity ("VIE"). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. For more information on the Company's investment in a VIE refer to Note 6, Investment Operations, to the consolidated financial statements. Policyholder Liabilities, Revenues, and Benefits Expense Traditional Life, Health, and Credit Insurance Products Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and they include whole life insurance policies, term and term-like life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies. In accordance with ASC 805, the liabilities for future policy benefits on traditional life insurance products, when combined with the associated VOBA, were recorded at fair value on the date of the Merger. These values were computed using assumptions that include interest rates, mortality, lapse rates, expense estimates, and other assumptions based on the Company's experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Liabilities for future policy benefits on traditional life insurance products have been computed using a net level method including assumptions as to investment yields, mortality, persistency, and other assumptions based on the Company's experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Reserve investment yield assumptions on December 31, 2015 (Successor Company), range from approximately 2.8% to 4.5% . The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. Policy claims are charged to expense in the period in which the claims are incurred. Traditional life insurance premiums are recognized as revenue when due. Health and credit insurance premiums are recognized as revenue over the terms of the policies. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contracts. This is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and VOBA. Gross premiums in excess of net premiums related to immediate annuities are deferred and recognized over the life of the policy. Activity in the liability for unpaid claims for life and health insurance is summarized as follows: Successor Company Predecessor Company As of December 31, As of January 31, As of December 31, 2015 2015 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Balance beginning of year $ 403,009 $ 419,401 $ 334,450 $ 326,633 Less: reinsurance 149,618 163,671 117,502 155,341 Net balance beginning of year 253,391 255,730 216,948 171,292 Incurred related to: Current year 973,175 97,573 1,075,005 698,028 Prior year 95,977 9,360 102,936 68,396 Total incurred 1,069,152 106,933 1,177,941 766,424 Paid related to: Current year 939,824 98,281 1,017,193 682,877 Prior year 111,222 10,991 121,966 85,146 Total paid 1,051,046 109,272 1,139,159 768,023 Other changes: Acquisition and reserve transfers (1) — — — 47,255 Net balance end of year 271,497 253,391 255,730 216,948 Add: reinsurance 112,537 149,618 163,671 117,502 Balance end of year $ 384,034 $ 403,009 $ 419,401 $ 334,450 (1) This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 (Predecessor Company) for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 (Predecessor Company) for MONY Life Insurance Company is not reflected in this chart. Universal Life and Investment Products Universal life and investment products include universal life insurance, guaranteed investment contracts, guaranteed funding agreements, deferred annuities, and annuities without life contingencies. Premiums and policy fees for universal life and investment products consist of fees that have been assessed against policy account balances for the costs of insurance, policy administration, and surrenders. Such fees are recognized when assessed and earned. Benefit reserves for universal life and investment products represent policy account balances before applicable surrender charges plus certain deferred policy initiation fees that are recognized in income over the term of the policies. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest rates credited to universal life products ranged from 1.0% to 8.75% and investment products ranged from 0.2% to 9.8% in 2015 . The Company establishes liabilities for fixed indexed annuity ("FIA") products. These products are deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance. The FIA product is considered a hybrid financial instrument under the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" or "Codification") Topic 815 - Derivatives and Hedging which allows the Company to make the election to value the liabilities of these FIA products at fair value. This election was made for the FIA products issued prior to 2010 as the policies were issued. These products are no longer being marketed. The future changes in the fair value of the liability for these FIA products are recorded in Benefit and settlement expenses with the liabil

RECENTLY ANNOUNCED REINSURANCE

RECENTLY ANNOUNCED REINSURANCE AND FINANCING TRANSACTION	12 Months Ended
	Dec. 31, 2015
Insurance [Abstract]
RECENTLY ANNOUNCED REINSURANCE AND FINANCING TRANSACTION	RECENTLY ANNOUNCED REINSURANCE AND FINANCING TRANSACTION On January 15, 2016, the Company completed the transaction contemplated by the Master Agreement, dated September 30, 2015 (the “Master Agreement”), with Genworth Life and Annuity Insurance Company (“GLAIC”). Pursuant to the Master Agreement, on January 15, 2016, the Company entered into a reinsurance agreement (the “Reinsurance Agreement”) under the terms of which the Company coinsures certain term life insurance business of GLAIC (the “GLAIC Block”). In connection with the reinsurance transaction, on January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a wholly owned subsidiary of the Company, and Steel City, LLC (“Steel City”), a newly formed wholly owned subsidiary of PLC, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by the Company and West Coast Life Insurance Company ("WCL"), a direct wholly owned subsidiary. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLC, WCL and the Company, meaning that none of these companies are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. In connection with the transaction, PLC has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. The estimated average annual expense of the credit enhancement under generally accepted accounting principles is approximately $3.1 million , after-tax. As a result of the financing transaction described above, the $800 million of Golden Gate Series A Surplus Notes held by PLC were contributed to the Company and then subsequently contributed to Golden Gate, which resulted in the extinguishment of these notes. Also on January 15, 2016, Golden Gate paid an extraordinary dividend of $300 million to the Company as approved by the Vermont Department of Financial Regulation. REINSURANCE The Company reinsures certain of its risks with (cedes), and assumes risks from, other insurers under yearly renewable term, coinsurance, and modified coinsurance agreements. Under yearly renewable term agreements, the Company reinsures only the mortality risk, while under coinsurance the Company reinsures a proportionate share of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate share of the premiums less commissions and is liable for a corresponding share of all benefit payments. Modified coinsurance is accounted for in a manner similar to coinsurance except that the liability for future policy benefits is held by the ceding company, and settlements are made on a net basis between the companies. Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to us under the terms of the reinsurance agreements. The Company monitors the concentration of credit risk the Company has with any reinsurer, as well as the financial condition of its reinsurers. As of December 31, 2015 (Successor Company), the Company had reinsured approximately 48% of the face value of its life insurance in-force. The Company has reinsured approximately 20% of the face value of its life insurance in-force with the following three reinsurers: • Security Life of Denver Insurance Co. (currently administered by Hanover Re) • Swiss Re Life & Health America Inc. • The Lincoln National Life Insurance Co. (currently administered by Swiss Re Life & Health America Inc.) The Company has not experienced any credit losses for the years ended December 31, 2015 (Successor Company), December 31, 2014 (Predecessor Company), or December 31, 2013 (Predecessor Company) related to these reinsurers. The Company has set limits on the amount of insurance retained on the life of any one person. In 2005, the Company increased its retention for certain newly issued traditional life products from $500,000 to $1,000,000 on any one life. During 2008, the Company increased its retention limit to $2,000,000 on certain of its traditional and universal life products. Reinsurance premiums, commissions, expense reimbursements, benefits, and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. The cost of reinsurance related to short-duration contracts is accounted for over the reinsurance contract period. Amounts recoverable from reinsurers, for both short-duration and long-duration reinsurance arrangements, are estimated in a manner consistent with the claim liabilities and policy benefits associated with reinsured policies. The following table presents the net life insurance in-force: Successor Company Predecessor Company As of December 31, As of December 31, 2015 2014 2013 (Dollars In Millions) (Dollars In Millions) Direct life insurance in-force $ 727,705 $ 721,036 $ 726,697 Amounts assumed from other companies 39,547 43,237 46,752 Amounts ceded to other companies (368,142 ) (388,890 ) (416,809 ) Net life insurance in-force $ 399,110 $ 375,383 $ 356,640 Percentage of amount assumed to net 10 % 12 % 13 % The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Premiums and policy fees: Life insurance $ 2,360,643 $ (1,058,706 ) $ 308,280 $ 1,610,217 (1) 19.1 % Accident/health insurance 70,243 (36,871 ) 18,252 51,624 35.4 Property and liability insurance 228,500 (79,294 ) 6,904 156,110 4.4 Total $ 2,659,386 $ (1,174,871 ) $ 333,436 $ 1,817,951 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Premiums and policy fees: Life insurance $ 204,185 $ (80,657 ) $ 28,601 $ 152,129 (1) 18.8 % Accident/health insurance 6,846 (4,621 ) 1,809 4,034 44.8 Property and liability insurance 18,475 (6,354 ) 666 12,787 5.2 Total $ 229,506 $ (91,632 ) $ 31,076 $ 168,950 For The Year Ended December 31, 2014 Premiums and policy fees: Life insurance $ 2,603,956 $ (1,279,908 ) $ 349,934 $ 1,673,982 (1) 20.9 % Accident/health insurance 81,037 (42,741 ) 20,804 59,100 35.2 Property and liability insurance 218,663 (73,094 ) 8,675 154,244 5.6 Total $ 2,903,656 $ (1,395,743 ) $ 379,413 $ 1,887,326 For The Year Ended December 31, 2013 Premiums and policy fees: Life insurance $ 2,371,872 $ (1,299,631 ) $ 306,921 $ 1,379,162 (1) 22.3 % Accident/health insurance 45,262 (20,011 ) 24,291 49,542 49.0 Property and liability insurance 210,999 (67,795 ) 7,977 151,181 5.3 Total $ 2,628,133 $ (1,387,437 ) $ 339,189 $ 1,579,885 (1) Includes annuity policy fees of $77.2 million , $7.7 million , $92.8 million , and $88.7 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company), respectively. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), policy and claim reserves relating to insurance ceded of $5.3 billion and $5.9 billion , respectively, are included in reinsurance receivables. Should any of the reinsurers be unable to meet its obligation at the time of the claim, the Company would be obligated to pay such claims. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had paid $77.9 million and $120.5 million , respectively, of ceded benefits which are recoverable from reinsurers. In addition, as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had receivables of $64.9 million and $65.8 million , respectively, related to insurance assumed. The Company’s third party reinsurance receivables amounted to $5.3 billion and $5.9 billion as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), respectively. These amounts include ceded reserve balances and ceded benefit payments. The ceded benefit payments are recoverable from reinsurers. The following table sets forth the receivables attributable to our more significant reinsurance partners: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) (Dollars In Millions) Security Life of Denver Insurance Company $ 800.6 A $ 842.1 A Swiss Re Life & Health America, Inc. 719.2 A+ 820.9 A+ Lincoln National Life Insurance Co. 546.0 A+ 556.3 A+ Transamerica Life Insurance Co. 396.6 A+ 497.7 A+ RGA Reinsurance Company 303.5 A+ 412.4 A+ SCOR Global Life USA Reinsurance Company 320.4 A 411.8 A American United Life Insurance Company 314.2 A+ 336.1 A+ Scottish Re (U.S.), Inc. 268.6 NR 298.0 NR Centre Reinsurance (Bermuda) Ltd 247.6 NR 260.9 NR Employers Reassurance Corporation 224.4 A- 254.3 A- The Company's reinsurance contracts typically do not have a fixed term. In general, the reinsurers' ability to terminate coverage for existing cessions is limited to such circumstances as material breach of contract or non-payment of premiums by the ceding company. The reinsurance contracts generally contain provisions intended to provide the ceding company with the ability to cede future business on a basis consistent with historical terms. However, either party may terminate any of the contracts with respect to future business upon appropriate notice to the other party. Generally, the reinsurance contracts do not limit the overall amount of the loss that can be incurred by the reinsurer. The amount of liabilities ceded under contracts that provide for the payment of experience refunds is immaterial.

DAI-ICHI MERGER

DAI-ICHI MERGER	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
DAI-ICHI MERGER	DAI-ICHI MERGER On February 1, 2015 PLC, subsequent to required approvals from PLC’s shareholders and relevant regulatory authorities, became a wholly owned subsidiary of Dai-ichi Life as contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) with Dai-ichi Life and DL Investment (Delaware), Inc., a Delaware corporation and wholly owned subsidiary of Dai-ichi Life, which provided for the Merger of DL Investment (Delaware), Inc. with and into PLC (the “Merger”), with PLC surviving the Merger as a wholly owned subsidiary of Dai-ichi Life. On February 1, 2015 each share of PLC’s common stock outstanding was converted into the right to receive $70 per share, without interest, (the “Per Share Merger Consideration”). The aggregate cash consideration paid in connection with the Merger for the outstanding shares of common stock was approximately $5.6 billion , such amounts paid directly to the shareowners of record by Dai-ichi Life. The Merger provided Dai-ichi Life with a platform for growth in the United States, where it did not previously have a significant presence. In connection with the completion of the Merger, PLC's previously publicly traded equity was delisted from the NYSE, although PLC and the Company remain SEC registrants for financial reporting purposes in the United States. The Merger was accounted for under the acquisition method of accounting under ASC Topic 805. In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. On the date of the Merger, goodwill of $735.7 million represented the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in the Merger, and reflected the Company’s assembled workforce, future growth potential and other sources of value not associated with identifiable assets. During the measurement period subsequent to February 1, 2015, the Company has made adjustments to provisional amounts related to certain tax balances that resulted in a decrease to goodwill of $3.3 million from the amount recorded at the Merger date. The balance of goodwill associated with the Merger as of December 31, 2015 (Successor Company) is $732.4 million . None of the goodwill is tax deductible. The following table summarizes the fair value of assets acquired and liabilities assumed at the acquisition date: Fair Value As of February 1, 2015 (Dollars In Thousands) Assets Fixed maturities $ 38,342,948 Equity securities 699,081 Mortgage loans 5,580,229 Investment real estate 7,456 Policy loans 1,751,872 Other long-term investments 657,346 Short-term investments 311,236 Total investments 47,350,168 Cash 378,903 Accrued investment income 483,691 Accounts and premiums receivable 104,260 Reinsurance receivables 5,538,637 Value of business acquired 1,278,064 Goodwill 735,712 Other intangibles 683,000 Property and equipment 102,736 Other assets 224,555 Income tax receivable 50,117 Assets related to separate accounts Variable annuity 12,970,587 Variable universal life 819,188 Total assets $ 70,719,618 Liabilities Future policy and benefit claims $ 30,195,397 Unearned premiums 622,278 Total policy liabilities and accruals 30,817,675 Stable value product account balances 1,932,277 Annuity account balances 10,941,661 Other policyholders' funds 1,388,083 Other liabilities 1,533,666 Deferred income taxes 1,861,632 Non-recourse funding obligations 1,895,636 Repurchase program borrowings 50,000 Liabilities related to separate accounts Variable annuity 12,970,587 Variable universal life 819,188 Total liabilities 64,210,405 Net assets acquired $ 6,509,213 As of the acquisition date, all contractual cash flows related to the Company's historical and acquired receivables (as presented within this consolidated balance sheet) are expected to be collected. Intangible assets recognized by the Company included the following (excluding goodwill): Estimated Fair Value on Estimated Acquisition Date Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 405,000 14-22 Trade names 103,000 13-17 Technology 143,000 7-14 Total intangible assets subject to amortization 651,000 Insurance licenses 32,000 Indefinite Total intangible assets $ 683,000 Identified intangible assets were valued using the excess earnings method, relief from royalty method or cost approach, as appropriate. Amortizable intangible assets will be amortized straight line over their assigned useful lives. The following is a schedule of future estimated aggregate amortization expense: Year Amount (Dollars In Thousands) 2016 $ 41,313 2017 41,313 2018 41,313 2019 41,313 2020 41,313 All tangible and intangible assets of the Company were allocated to applicable operating segments in connection with the recording of pushdown accounting. The purchase price was also allocated to each operating segment in accordance with the determined fair value of the operating segments, such that the total reconciled with the total consideration paid in the Merger. Subtraction of the fair value of the tangible and intangible assets for each operating segment from the allocated purchase price of that operating segment resulted in the goodwill allocated to each operating segment. The amount of goodwill allocated to each operating segment is reflected in Note 25, Operating Segments . Treatment of Benefit Plans At or immediately prior to the Merger, each stock appreciation right with respect to shares of PLC’s Common Stock granted under any Stock Plan (each, a “SAR”) that was outstanding and unexercised immediately prior to the Merger and that had a base price per share of Common Stock underlying such SAR (the “Base Price”) that was less than the Per Share Merger Consideration (each such SAR, an “In-the-Money SAR”), whether or not exercisable or vested, was cancelled and converted into the right to receive an amount in cash less any applicable withholding taxes, determined by multiplying (i) the excess of the Per Share Merger Consideration over the Base Price of such In-the-Money SAR by (ii) the number of shares of PLC’s Common Stock subject to such In- the-Money SAR (such amount, the “SAR Consideration”). At or immediately prior to the effective time of the Merger, each restricted stock unit with respect to a share of PLC's Common Stock granted under any Stock Plan (each, a “RSU”) that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of PLC's RSUs. The number of performance shares earned for each award of performance shares granted under any PLC Stock Plan was calculated by determining the number of performance shares that would have been paid if the subject award period had ended on the December 31 immediately preceding the Merger (based on the conditions set for payment of performance share awards for the subject award period), provided that the number of performance shares earned for each award were not less than the aggregate number of performance shares at the target performance level. Each performance share earned that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of Performance Shares.

MONY CLOSED BLOCK OF BUSINESS

MONY CLOSED BLOCK OF BUSINESS	12 Months Ended
	Dec. 31, 2015
Closed Block Disclosure [Abstract]
MONY CLOSED BLOCK OF BUSINESS	MONY CLOSED BLOCK OF BUSINESS In 1998, MONY Life Insurance Company (“MONY”) converted from a mutual insurance company to a stock corporation (“demutualization”). In connection with its demutualization, an accounting mechanism known as a closed block (the “Closed Block”) was established for certain individuals’ participating policies in force as of the date of demutualization. Assets, liabilities, and earnings of the Closed Block are specifically identified to support its participating policyholders. The Company acquired the Closed Block in conjunction with the acquisition of MONY in 2013. Assets allocated to the Closed Block inure solely to the benefit of each Closed Block’s policyholders and will not revert to the benefit of MONY or the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of MONY’s general account, any of MONY’s separate accounts or any affiliate of MONY without the approval of the Superintendent of The New York State Department of Financial Services (the “Superintendent”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the general account. The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in accumulated other comprehensive income (loss) (“AOCI”)) at the acquisition date of October 1, 2013, represented the estimated maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. In connection with the acquisition of MONY, the Company developed an actuarial calculation of the expected timing of MONY’s Closed Block’s earnings as of October 1, 2013. Pursuant to the acquisition of the Company by Dai-ichi Life, this actuarial calculation of the expected timing of MONY’s Closed Block earnings was recalculated and reset as of February 1, 2015, along with the establishment of a policyholder dividend obligation as of such date. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in the Company's net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend, unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of VOBA, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Closed Block as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) and is as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders' account balances and other policyholder liabilities $ 6,010,520 $ 6,138,505 Policyholder dividend obligation — 366,745 Other liabilities 22,917 53,838 Total closed block liabilities 6,033,437 6,559,088 Closed block assets Fixed maturities, available-for-sale, at fair value 4,426,090 4,524,037 Equity securities, available-for-sale, at fair value — 5,387 Mortgage loans on real estate 247,162 448,855 Policy loans 746,102 771,120 Cash and other invested assets 34,420 30,984 Other assets 166,445 221,270 Total closed block assets 5,620,219 6,001,653 Excess of reported closed block liabilities over closed block assets 413,218 557,435 Portion of above representing accumulated other comprehensive income: Net unrealized investments gains (losses) net of policyholder dividend obligation of $(179,360) (Successor) and $106,886 (Predecessor) (18,597 ) — Future earnings to be recognized from closed block assets and closed block liabilities $ 394,621 $ 557,435 Reconciliation of the policyholder dividend obligation is as follows: Successor Company Predecessor Company February 1, 2015 to December 31, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 Policyholder dividend obligation, beginning balance $ 323,432 $ 366,745 $ 190,494 Applicable to net revenue (losses) (47,493 ) (1,369 ) (910 ) Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation; includes deferred tax benefits of $(96,579) (Successor); $47,277 (2015 - Predecessor); $58,571 (2014 - Predecessor) (275,939 ) 135,077 177,161 Policyholder dividend obligation, ending balance $ — $ 500,453 $ 366,745 Closed Block revenues and expenses were as follows: Successor Company Predecessor Company February 1, 2015 to December 31, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Premiums and other income $ 185,562 $ 15,065 $ 212,765 Net investment income 193,203 19,107 239,028 Net investment gains 3,333 568 10,528 Total revenues 382,098 34,740 462,321 Benefits and other deductions Benefits and settlement expenses 336,629 31,152 417,667 Other operating expenses 1,001 — 674 Total benefits and other deductions 337,630 31,152 418,341 Net revenues before income taxes 44,468 3,588 43,980 Income tax expense 14,920 1,256 20,377 Net revenues $ 29,548 $ 2,332 $ 23,603

INVESTMENT OPERATIONS

INVESTMENT OPERATIONS	12 Months Ended
	Dec. 31, 2015
INVESTMENT OPERATIONS
INVESTMENT OPERATIONS	INVESTMENT OPERATIONS Major categories of net investment income are summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ 1,266,769 $ 140,052 $ 1,711,722 $ 1,508,924 Equity securities 40,879 2,556 41,533 26,735 Mortgage loans 252,577 24,977 360,778 333,093 Investment real estate 2,528 112 4,483 3,555 Short-term investments 93,938 9,974 109,592 72,433 1,656,691 177,671 2,228,108 1,944,740 Other investment expenses 123,895 13,066 130,095 108,552 Net investment income $ 1,532,796 $ 164,605 $ 2,098,013 $ 1,836,188 Net realized investment gains (losses) for all other investments are summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ 1,272 $ 6,891 $ 75,074 $ 63,161 Equity securities (1,001 ) — 495 3,276 Impairments on fixed maturity securities (26,993 ) (481 ) (7,275 ) (19,100 ) Impairments on equity securities — — — (3,347 ) Modco trading portfolio (167,359 ) 73,062 142,016 (178,134 ) Other investments 153 1,200 (12,283 ) (9,840 ) Total realized gains (losses) - investments $ (193,928 ) $ 80,672 $ 198,027 $ (143,984 ) For the period of February 1, 2015 to December 31, 2015 (Successor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $8.7 million and gross realized losses were $35.5 million , including $27.0 million of impairment losses. For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $6.9 million and gross realized losses were $0.5 million , including $0.4 million of impairment losses. For the year ended December 31, 2014 (Predecessor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $76.7 million and gross realized losses were $8.1 million , including $6.9 million of impairment losses. For the year ended December 31, 2013 (Predecessor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $72.6 million and gross realized losses were $27.9 million , including $21.7 million of impairment losses. For the period of February 1, 2015 to December 31, 2015 (Successor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $948.8 million . The gain realized on the sale of these securities was $8.7 million . For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $172.6 million . The gain realized on the sale of the securities was $6.9 million . For the year ended December 31, 2014 (Predecessor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $1.7 billion . The gain realized on the sale of these securities was $76.7 million . For the year ended December 31, 2013 (Predecessor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $2.3 billion . The gain realized on the sale of these securities was $72.6 million . For the period of February 1, 2015 to December 31, 2015 (Successor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $178.4 million . The loss realized on the sale of these securities was $8.5 million . The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $0.4 million . The loss realized on the sale of these securities were immaterial to the Company. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. For the year ended December 31, 2014 (Predecessor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $22.9 million . The loss realized on the sale of these securities was $1.2 million . The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. For the year ended December 31, 2013 (Predecessor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $398.2 million . The loss realized on the sale of these securities was $6.2 million . The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. The amortized cost and fair value of the Company’s investments classified as available-for-sale as of December 31, 2015 (Successor Company) and as of December 31, 2014 (Predecessor Company), are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) Successor Company As of December 31, 2015 Fixed maturities: Residential mortgage-backed securities $ 1,773,099 $ 9,286 $ (17,112 ) $ 1,765,273 $ — Commercial mortgage-backed securities 1,327,288 428 (41,852 ) 1,285,864 — Other asset-backed securities 813,056 2,758 (18,763 ) 797,051 — U.S. government-related securities 1,566,260 449 (34,532 ) 1,532,177 — Other government-related securities 18,483 — (743 ) 17,740 — States, municipals, and political subdivisions 1,729,732 682 (126,814 ) 1,603,600 — Corporate securities 28,433,530 26,147 (2,681,020 ) 25,778,657 (605 ) Preferred stock 64,362 192 (1,867 ) 62,687 — 35,725,810 39,942 (2,922,703 ) 32,843,049 (605 ) Equity securities 684,888 13,255 (6,477 ) 691,666 — Short-term investments 202,110 — — 202,110 — $ 36,612,808 $ 53,197 $ (2,929,180 ) $ 33,736,825 $ (605 ) Amortized Cost Gross Unrealized Gains Gross Fair Total OTTI (1) (Dollars In Thousands) Predecessor Company As of December 31, 2014 Fixed maturities: Residential mortgage-backed securities $ 1,374,141 $ 56,381 $ (12,264 ) $ 1,418,258 $ 6,404 Commercial mortgage-backed securities 1,119,979 59,637 (2,364 ) 1,177,252 — Other asset-backed securities 857,365 17,961 (35,950 ) 839,376 (95 ) U.S. government-related securities 1,394,028 44,149 (9,282 ) 1,428,895 — Other government-related securities 16,939 3,233 — 20,172 — States, municipals, and political subdivisions 1,391,526 296,594 (431 ) 1,687,689 — Corporate securities 24,744,050 2,760,703 (138,975 ) 27,365,778 — 30,898,028 3,238,658 (199,266 ) 33,937,420 6,309 Equity securities 713,813 35,646 (14,153 ) 735,306 — Short-term investments 151,572 — — 151,572 — $ 31,763,413 $ 3,274,304 $ (213,419 ) $ 34,824,298 $ 6,309 (1)These amounts are included in the gross unrealized gains and gross unrealized losses columns above. The preferred stock shown above as of December 31, 2015 (Successor Company) is included in the equity securities total as of December 31, 2014 (Predecessor Company). The amortized cost and fair value of the Company's investments classified as held-to-maturity as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (Dollars In Thousands) Successor Company As of December 31, 2015 Fixed maturities: Other $ 593,314 $ — $ (78,314 ) $ 515,000 $ — $ 593,314 $ — $ (78,314 ) $ 515,000 $ — Amortized Cost Gross Gross Fair Total OTTI (Dollars In Thousands) Predecessor Company As of December 31, 2014 Fixed maturities: Other $ 435,000 $ 50,422 $ — $ 485,422 $ — $ 435,000 $ 50,422 $ — $ 485,422 $ — During the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the year ended December 31, 2014 (Predecessor Company), the Company did not record any other-than-temporary impairments on held-to-maturity securities. The Company's held-to-maturity securities had $78.3 million of gross unrecognized holding losses for the period of February 1, 2015 to December 31, 2015 (Successor Company). For the year ended December 31, 2014 (Predecessor Company), the Company did not have any gross unrecognized holding losses. The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings, financial health of the issuer, continued access of the issuer to capital markets and other pertinent information. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had an additional $2.7 billion and $2.8 billion of fixed maturities, $8.3 million and $21.5 million of equity securities, and $61.7 million and $95.1 million of short-term investments classified as trading securities, respectively. The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2015 (Successor Company), by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment. Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ 937,594 $ 935,861 $ — $ — Due after one year through five years 5,860,269 5,725,005 — — Due after five years through ten years 7,791,519 7,494,182 — — Due after ten years 21,136,428 18,688,001 593,314 515,000 $ 35,725,810 $ 32,843,049 $ 593,314 $ 515,000 During the period of February 1, 2015 to December 31, 2015 (Successor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $28.7 million , all of which were related to fixed maturities. Credit impairments recorded in earnings during the period of February 1, 2015 to December 31, 2015 (Successor Company), were $27.0 million . During the period of February 1, 2015 to December 31, 2015 (Successor Company), $1.7 million of non-credit impairment losses were recorded in other comprehensive income. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the period of February 1, 2015 to December 31, 2015 (Successor Company). During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $0.6 million , all of which related to fixed maturities. Credit impairments recorded in earnings during the period were $0.5 million . During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), $0.1 million of non-credit impairment losses were recorded in other comprehensive income. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the period of January 1, 2015 to January 31, 2015 (Predecessor Company). During the year ended December 31, 2014 (Predecessor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $2.6 million , all of which related to fixed maturities. Credit impairments recorded in earnings during the year ended December 31, 2014 (Predecessor Company), were $7.3 million . During the year ended December 31, 2014 (Predecessor Company), $4.7 million of non-credit losses previously recorded in other comprehensive income were recorded in earnings as credit losses. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the year ended December 31, 2014 (Predecessor Company). During the year ended December 31, 2013 (Predecessor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $10.9 million , of which $7.6 million were related to fixed maturities and $3.3 million were related to equity securities. Credit impairments recorded in earnings during the year ended December 31, 2013 (Predecessor Company) were $22.4 million . Non-credit impairment losses of $11.5 million that were previously recorded in other comprehensive income (loss) were recorded in earnings as credit losses. There were no impairments related to equity securities. For the year ended December 31, 2013 (Predecessor Company), there were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell. The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss): Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ 15,463 $ 41,674 $ 121,237 Additions for newly impaired securities 22,761 — — 3,516 Additions for previously impaired securities — 221 2,263 12,066 Reductions for previously impaired securities due to a change in expected cash flows — — (28,474 ) (87,908 ) Reductions for previously impaired securities that were sold in the current period — — — (7,237 ) Other — — — — Ending balance $ 22,761 $ 15,684 $ 15,463 $ 41,674 The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2015 (Successor Company): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 977,433 $ (17,112 ) $ — $ — $ 977,433 $ (17,112 ) Commercial mortgage-backed securities 1,232,495 (41,852 ) — — 1,232,495 (41,852 ) Other asset-backed securities 633,274 (18,763 ) — — 633,274 (18,763 ) U.S. government-related securities 1,291,476 (34,532 ) — — 1,291,476 (34,532 ) Other government-related securities 17,740 (743 ) — — 17,740 (743 ) States, municipalities, and political subdivisions 1,566,752 (126,814 ) — — 1,566,752 (126,814 ) Corporate securities 24,235,121 (2,681,020 ) — — 24,235,121 (2,681,020 ) Preferred stock 34,685 (1,867 ) — — 34,685 (1,867 ) Equities 248,493 (6,477 ) — — 248,493 (6,477 ) $ 30,237,469 $ (2,929,180 ) $ — $ — $ 30,237,469 $ (2,929,180 ) The preferred stock shown above as of December 31, 2015 (Successor Company), is included in the equity securities total as of December 31, 2014 (Predecessor Company). The book value of the Company’s investment portfolio was marked to fair value as of February 1, 2015 (Successor Company), in conjunction with the Dai-ichi Merger which resulted in the elimination of previously unrealized gains and losses from accumulated other comprehensive income as of that date. The level of interest rates as of February 1, 2015 (Successor Company) resulted in an increase in the carrying value of the Company’s investments. Since February 1, 2015 (Successor Company), interest rates have increased resulting in net unrealized losses in the Company’s investment portfolio. As of December 31, 2015 (Successor Company), the Company had a total of 2,547 positions that were in an unrealized loss position, but the Company does not consider these unrealized loss positions to be other-than-temporary. This is based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and the Company does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities. The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014 (Predecessor Company): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 165,877 $ (9,547 ) $ 67,301 $ (2,717 ) $ 233,178 $ (12,264 ) Commercial mortgage-backed securities 49,908 (334 ) 102,529 (2,030 ) 152,437 (2,364 ) Other asset-backed securities 108,665 (6,473 ) 537,488 (29,477 ) 646,153 (35,950 ) U.S. government-related securities 231,917 (3,868 ) 280,803 (5,414 ) 512,720 (9,282 ) Other government-related securities — — — — — — States, municipalities, and political subdivisions 1,905 (134 ) 10,481 (297 ) 12,386 (431 ) Corporate securities 1,657,103 (76,285 ) 776,863 (62,690 ) 2,433,966 (138,975 ) Equities 17,430 (218 ) 129,509 (13,935 ) 146,939 (14,153 ) $ 2,232,805 $ (96,859 ) $ 1,904,974 $ (116,560 ) $ 4,137,779 $ (213,419 ) RMBS had a gross unrealized loss greater than twelve months of $2.7 million as of December 31, 2014 (Predecessor Company). Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. CMBS had a gross unrealized loss greater than twelve months of $2.0 million as of December 31, 2014 (Predecessor Company). Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. The other asset-backed securities had a gross unrealized loss greater than twelve months of $29.5 million as of December 31, 2014 (Predecessor Company). This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the Federal Family Education Loan Program ("FFELP"). These unrealized losses have occurred within the Company’s auction rate securities ("ARS") portfolio since the market collapse during 2008. At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary. The U.S. government-related category had gross unrealized losses greater than twelve months of $5.4 million as of December 31, 2014 (Predecessor Company). These declines were entirely related to changes in interest rates. The corporate securities category had gross unrealized losses greater than twelve months of $62.7 million as of December 31, 2014 (Predecessor Company). The aggregate decline in market value of these securities was deemed temporary due to positive factor supporting the recoverability of the respective investments. Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information. The equities category had a gross unrealized loss greater than twelve months of $13.9 million as of December 31, 2014 (Predecessor Company). The aggregate decline in market value of these securities was deemed temporary due to factors supporting the recoverability of the respective investments. Positive factors include credit ratings, the financial health of the issuer, the continued access of the issuer to the capital markets, and other pertinent information. The Company does not consider these unrealized loss positions to be other-than-temporary, based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities. As of December 31, 2015 (Successor Company), the Company had securities in its available-for-sale portfolio which were rated below investment grade of $1.5 billion and had an amortized cost of $1.7 billion . In addition, included in the Company’s trading portfolio, the Company held $288.2 million of securities which were rated below investment grade. Approximately $928.7 million of the below investment grade securities were not publicly traded. The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ (1,873,795 ) 669,160 $ 1,224,248 $ (1,269,277 ) Equity securities 4,406 12,172 33,642 (20,899 ) The Company held $27.1 million of non-income producing securities for the period of February 1, 2015 to December 31, 2015 (Successor Company). Included in the Company’s invested assets are $1.7 billion of policy loans as of December 31, 2015 (Successor Company). The interest rates on standard policy loans range from 3.0% to 8.0% . The collateral loans on life insurance policies have an interest rate of 13.64% . Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available for sale, or held to maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity ("VIE"). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Based on this analysis, the Company had an interest in one wholly owned subsidiary, Red Mountain, LLC (“Red Mountain”), that was determined to be a VIE as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company). The activity most significant to Red Mountain is the issuance of a note in connection with a financing transaction involving Golden Gate V Vermont Captive Insurance Company ("Golden Gate V") and the Company in which Golden Gate V issued non-recourse funding obligations to Red Mountain and Red Mountain issued the note to Golden Gate V. Credit enhancement on the Red Mountain Note is provided by an unrelated third party. For details of this transaction, see Note 12, Debt and Other Obligations . The Company has the power, via its 100% ownership through an affiliate, to direct the activities of the VIE, but does not have the obligation to absorb losses related to the primary risks or sources of variability to the VIE. The variability of loss would be borne primarily by the third party in its function as provider of credit enhancement on the Red Mountain Note. Accordingly, it was determined that the Company is not the primary beneficiary of the VIE. The Company's risk of loss related to the VIE is limited to its investment of $10,000 . Additionally, PLC, the holding company, has guaranteed the VIE’s credit enhancement fee obligation to the unrelated third party provider. As of December 31, 2015 (Successor Company), no payments have been made or required related to this guarantee.

MORTGAGE LOANS

MORTGAGE LOANS	12 Months Ended
	Dec. 31, 2015
Mortgage Loans [Abstract]
MORTGAGE LOANS	MORTGAGE LOANS Mortgage Loans The Company invests a portion of its investment portfolio in commercial mortgage loans. As of December 31, 2015 (Successor Company), the Company’s mortgage loan holdings were approximately $5.7 billion . The Company has specialized in making loans on either credit-oriented commercial properties or credit-anchored strip shopping centers and apartments. The Company’s underwriting procedures relative to its commercial loan portfolio are based, in the Company’s view, on a conservative and disciplined approach. The Company concentrates on a small number of commercial real estate asset types associated with the necessities of life (retail, multi-family, senior living, professional office buildings, and warehouses). The Company believes that these asset types tend to weather economic downturns better than other commercial asset classes in which it has chosen not to participate. The Company believes this disciplined approach has helped to maintain a relatively low delinquency and foreclosure rate throughout its history. The majority of the Company's mortgage loans portfolio was underwritten by the Company. From time to time, the Company may acquire loans in conjunction with an acquisition. The Company's commercial mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of valuation allowances. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Amortization of premiums and discounts is recorded using the effective yield method. Interest income, amortization of premiums and discounts and prepayment fees are reported in net investment income. As of February 1, 2015, all mortgage loans were measured at fair value. Each mortgage loan was individually analyzed to determine the fair value. Each loan was either analyzed and assigned a discount rate or given an impairment, based on whether facts and circumstances which, as of the acquisition date, indicated less than full projected collections of contractual principal and interest payments. Various market factors were considered in determining the net present value of the expected cash flow stream or underlying real estate collateral, including the characteristics of the borrower, the underlying collateral, underlying credit worthiness of the tenants, and tenant payment history. Known events and risks, such as refinancing risks, were also considered in the fair value determination. In certain cases, fair value was based on the NPV of the expected cash flow stream or the underlying value of the real estate collateral. The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2015 (Successor Company): Type Percentage of Mortgage Loans on Real Estate Retail 60.9 % Office Buildings 13.0 Apartments 7.4 Warehouses 8.6 Senior housing 6.4 Other 3.7 100.0 % The Company specializes in originating mortgage loans on either credit-oriented or credit-anchored commercial properties. No single tenant’s exposure represents more than 2.0% of mortgage loans. Approximately 62.8% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Alabama 10.6 % Texas 9.3 Georgia 7.4 Florida 6.5 Tennessee 6.4 Utah 5.3 North Carolina 4.7 South Carolina 4.5 Ohio 4.2 California 3.9 62.8 % During the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company funded approximately $1.4 billion and $97.4 million of new loans, with an average loan size of $6.0 million and $7.5 million , respectively. The average size mortgage loan in the portfolio as of December 31, 2015 (Successor Company), was $3.0 million , and the weighted-average interest rate was 5.30% . The largest single mortgage loan at December 31, 2015 (Successor Company) was $48.3 million . Certain of the mortgage loans have call options between 3 and 10 years . However, if interest rates were to significantly increase, we may be unable to exercise the call options on our existing mortgage loans commensurate with the significantly increased market rates. Assuming the loans are called at their next call dates, approximately $143.5 million would become due in 2016 , $854.5 million in 2017 through 2021, $242.5 million in 2022 through 2026, and $11.3 million thereafter. The Company offers a type of commercial mortgage loan under which the Company will permit a loan-to-value ratio of up to 85% in exchange for a participating interest in the cash flows from the underlying real estate. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), approximately $449.2 million and $553.6 million , respectively, of the Company’s mortgage loans have this participation feature. Cash flows received as a result of this participation feature are recorded as interest income. During the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the year ended December 31, 2014 (Predecessor Company), the Company recognized $29.8 million , $0.1 million , and $16.7 million of participating mortgage loan income, respectively. As of December 31, 2015 (Successor Company), approximately $4.7 million of invested assets consisted of nonperforming, restructured, or mortgage loans that were foreclosed and were converted to real estate properties since February 1, 2015 (Successor Company). The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company entered into certain mortgage loan transactions that were accounted for as troubled debt restructurings under Topic 310 of the FASB ASC. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in the Company's investment balance and in the allowance for mortgage loan credit losses. Transactions accounted for as troubled debt restructurings during the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) included either the acceptance of assets in satisfaction of principal during the respective periods or at a future date, and were the result of agreements between the creditor and the debtor. During the period of February 1, 2015 to December 31, 2015 (Successor Company), the Company accepted or agreed to accept assets of $15.8 million in satisfaction of $21.1 million of principal and for the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company accepted or agreed to accept assets of $11.3 million in satisfaction of $13.8 million of principal. Of the amounts accepted or agreed to accept in satisfaction of principal during the period of February 1, 2015 to December 31, 2015 (Successor Company) $3.7 million related to foreclosures. These transactions resulted in no material realized losses in the Company's investment in mortgage loans net of existing discounts for mortgage loans losses for the period of February 1, 2015 to December 31, 2015 (Successor Company). As of December 31, 2014 (Predecessor Company), approximately $24.5 million , or 0.05% , of invested assets consisted of nonperforming, restructured or mortgage loans that were foreclosed and were converted to real estate properties. The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2014 (Predecessor Company), certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings under Topic 310 of the FASB ASC. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. Transactions accounted for as troubled debt restructurings during the year ended December 31, 2014 (Predecessor Company) included either the acceptance of assets in satisfaction of principal at a future date or the recognition of permanent impairments to principal, and were the result of agreements between the creditor and the debtor. During the year ended December 31, 2014 (Predecessor Company), the Company accepted or agreed to accept assets of $33.0 million in satisfaction of $41.7 million of principal. The Company also identified one loan whose principal of $12.6 million was permanently impaired to a value of $7.3 million . These transactions resulted in realized losses of $10.3 million and a decrease in the Company’s investment in mortgage loans net of existing allowances for mortgage loans losses. As of December 31, 2013 (Predecessor Company), approximately $15.9 million , or 0.03% , of invested assets consisted of nonperforming, restructured or mortgage loans that were foreclosed and were converted to real estate properties. We do not expect these investments to adversely affect our liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2013 (Predecessor Company), certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings under Topic 310 of the FASB ASC. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. Transactions accounted for as troubled debt restructurings during the year either involved the modification of payment terms pursuant to bankruptcy proceedings or included acceptance of assets in satisfaction of principal or foreclosure on collateral property, and were the result of agreements between the creditor and the debtor. With respect to the modified loans we expect to collect all amounts due related to these loans as well as expenses incurred as a result of the restructurings. Additionally, there were no material changes to the principal balance of these loans, as a result of restructuring or modifications, which was $3.2 million as of December 31, 2013 (Predecessor Company). During the year a mortgage loan was paid off at a discount, the impact of this transaction resulted in a reduction of $0.5 million in the Company’s investment in mortgage loans, net of existing allowances for mortgage loan losses as of December 31, 2013 (Predecessor Company). The Company’s mortgage loan portfolio consists of two categories of loans: 1) those not subject to a pooling and servicing agreement and 2) those subject to a contractual pooling and servicing agreement. As of December 31, 2015 (Successor Company), $4.7 million of mortgage loans not subject to a pooling and servicing agreement were nonperforming, restructured, or mortgage loans that were foreclosed and were converted to real estate properties since February 1, 2015 (Successor Company). The Company foreclosed on $3.7 million of nonperforming loans during the period of February 1, 2015 to December 31, 2015 (Successor Company). The Company did not foreclose on any nonperforming loans not subject to a pooling and servicing agreement during the period of January 1, 2015 to January 31, 2015 (Predecessor Company). As of December 31, 2015 (Successor Company), none of the loans subject to a pooling and servicing agreement were nonperforming or restructured. The Company did not foreclose on any nonperforming loans subject to pooling and servicing agreement during the periods of February 1, 2015 to December 31, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company). As of December 31, 2015 (Successor Company) there was no allowances for mortgage loan credit losses and as of December 31, 2014 (Predecessor Company), the Company had an allowance for mortgage loan credit losses of $5.7 million . Due to the Company’s loss experience and nature of the loan portfolio, the Company believes that a collectively evaluated allowance would be inappropriate. The Company believes an allowance calculated through an analysis of specific loans that are believed to have a higher risk of credit impairment provides a more accurate presentation of expected losses in the portfolio and is consistent with the applicable guidance for loan impairments in ASC Subtopic 310. Since the Company uses the specific identification method for calculating the allowance, it is necessary to review the economic situation of each borrower to determine those that have higher risk of credit impairment. The Company has a team of professionals that monitors borrower conditions such as payment practices, borrower credit, operating performance, and property conditions, as well as ensuring the timely payment of property taxes and insurance. Through this monitoring process, the Company assesses the risk of each loan. When issues are identified, the severity of the issues are assessed and reviewed for possible credit impairment. If a loss is probable, an expected loss calculation is performed and an allowance is established for that loan based on the expected loss. The expected loss is calculated as the excess carrying value of a loan over either the present value of expected future cash flows discounted at the loan’s original effective interest rate, or the current estimated fair value of the loan’s underlying collateral. A loan may be subsequently charged off at such point that the Company no longer expects to receive cash payments, the present value of future expected payments of the renegotiated loan is less than the current principal balance, or at such time that the Company is party to foreclosure or bankruptcy proceedings associated with the borrower and does not expect to recover the principal balance of the loan. A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ 5,720 $ 3,130 Charge offs (2,561 ) (861 ) (675 ) Recoveries (638 ) (2,359 ) (2,600 ) Provision 3,199 — 5,865 Ending balance $ — $ 2,500 $ 5,720 It is the Company’s policy to cease to carry accrued interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is the Company’s general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. For loans subject to a pooling and servicing agreement, there are certain additional restrictions and/or requirements related to workout proceedings, and as such, these loans may have different attributes and/or circumstances affecting the status of delinquency or categorization of those in nonperforming status. An analysis of the delinquent loans is shown in the following chart: 30-59 Days Delinquent 60-89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) Successor Company As of December 31, 2015 Commercial mortgage loans $ 6,002 $ 1,033 $ — $ 7,035 Number of delinquent commercial mortgage loans 6 1 — 7 30-59 Days Delinquent 60-89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) Predecessor Company As of December 31, 2014 Commercial mortgage loans $ 8,972 $ — $ 1,484 $ 10,456 Number of delinquent commercial mortgage loans 4 — 1 5 The Company’s commercial mortgage loan portfolio consists of mortgage loans that are collateralized by real estate. Due to the collateralized nature of the loans, any assessment of impairment and ultimate loss given a default on the loans is based upon a consideration of the estimated fair value of the real estate. The Company limits accrued interest income on impaired loans to ninety days of interest. Once accrued interest on the impaired loan is received, interest income is recognized on a cash basis. For information regarding impaired loans, please refer to the following chart: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income (Dollars In Thousands) Successor Company As of December 31, 2015 Commercial mortgage loans: With no related allowance recorded $ 1,694 $ 1,728 $ — $ 847 $ 104 $ 117 With an allowance recorded — — — — — — Recorded Investment Unpaid Related Average Interest Cash Basis (Dollars In Thousands) Predecessor Company As of December 31, 2014 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 19,632 20,603 5,720 3,272 1,224 1,280 As of December 31, 2015 (Successor Company), the Company did not carry any mortgage loans that have been modified in a troubled debt restructuring. Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2014 (Predecessor Company) were as follows: Number of contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) Predecessor Company As of December 31, 2014 Troubled debt restructuring: Commercial mortgage loans 6 $ 28,648 $ 19,593

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	12 Months Ended
	Dec. 31, 2015
Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED Deferred policy acquisition costs The balances and changes in DAC are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ — $ 2,653,065 $ 2,720,604 Capitalization of commissions, sales, and issue expenses 306,237 22,820 293,672 Amortization (24,699 ) 1,080 (194,517 ) Change in unrealized investment gains and losses 9,959 (96,830 ) (166,694 ) Balance, end of period $ 291,497 $ 2,580,135 $ 2,653,065 Value of Business Acquired The balances and changes in VOBA are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ 1,278,063 $ 501,981 $ 756,018 Amortization (70,367 ) (5,895 ) (113,803 ) Change in unrealized gains and losses 69,226 (79,417 ) (140,234 ) Other (6,046 ) — — Balance, end of period $ 1,270,876 $ 416,669 $ 501,981 As of February 1, 2015, the existing DAC and VOBA balance was written off in conjunction with the Merger previously disclosed in Note 4, Dai-ichi Merger , and in accordance with ASC Topic 805 - Business Combinations . Concurrently, a VOBA asset was created representing the actuarial estimated present value of future cash flows from the Company's insurance policies and investment contracts in-force on the date of the Merger. Based on the balance recorded as of December 31, 2015 (Successor Company), the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2016 $ 131,942 2017 122,210 2018 112,332 2019 96,942 2020 80,542

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill by segment are as follows: Predecessor Company Acquisitions Asset Protection Total Consolidated (Dollars In Thousands) Balance as of December 31, 2013 $ 32,517 $ 48,158 $ 80,675 Tax benefit of excess tax goodwill (3,098 ) — (3,098 ) Balance as of December 31, 2014 $ 29,419 $ 48,158 $ 77,577 During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company decreased its goodwill balance by approximately $0.3 million . The decrease for the period of the Predecessor Company was due to an adjustment in the Acquisitions segment related to tax benefits realized during the period on the portion of tax goodwill in excess of GAAP basis goodwill. The goodwill balances associated with the Predecessor Company were replaced with newly established goodwill balances in conjunction with the Dai-ichi Merger, in accordance with ASC Topic 805, as described below. As permitted by ASC Topic 805, Business Combinations , the Company measured its assets and liabilities at fair value on the date of the Merger, February 1, 2015. The purchase price in excess of the fair value of assets and liabilities of the Company resulted in the establishment of goodwill as of the date of the Merger. As of February 1, 2015 (Successor Company), the Company established an aggregate goodwill balance of $735.7 million . During the measurement period subsequent to February 1, 2015, the Company has made adjustments to provisional amounts related to certain tax balances that resulted in a decrease to goodwill of $3.3 million from the amount recorded at the Merger date. This reduction in Goodwill was applied to the Life Marketing segment's goodwill. The balance of goodwill associated with the Merger as of December 31, 2015 (Successor Company) is $732.4 million . Refer to Note 4, Dai-ichi Merger , for more information related to the Successor Company goodwill.

CERTAIN NONTRADITIONAL LONG-DUR

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	12 Months Ended
	Dec. 31, 2015
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS The Company issues variable universal life and VA products through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder. The Company also offers, for our VA products, certain GMDB. The most significant of these guarantees involve 1) return of the highest anniversary date account value, or 2) return of the greater of the highest anniversary date account value or the last anniversary date account value compounded at 5% interest or 3) return of premium. The GMWB rider provides the contract holder with protection against certain adverse market impacts on the amount they can withdraw and is classified as an embedded derivative and is carried at fair value on the Company's balance sheet. The VA separate account balances subject to GMWB were $9.3 billion as of December 31, 2015 (Successor Company). For more information regarding the valuation of and income impact of GMWB, please refer to Note 2, Summary of Significant Accounting Policies , Note 22, Fair Value of Financial Instruments , and Note 23, Derivative Financial Instruments . The GMDB reserve is calculated by applying a benefit ratio, equal to the present value of total expected GMDB claims divided by the present value of total expected contract assessments, to cumulative contract assessments. This amount is then adjusted by the amount of cumulative GMDB claims paid and accrued interest. Assumptions used in the calculation of the GMDB reserve were as follows: mean investment performance of 5.87% , age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, lapse rates ranging from 2.2% - 33% (depending on product type and duration), and an average discount rate of 6.0% . Changes in the GMDB reserve are included in benefits and settlement expenses in the accompanying consolidated statements of income. The VA separate account balances subject to GMDB were $12.2 billion as of December 31, 2015 (Successor Company). The total GMDB amount payable based on VA account balances as of December 31, 2015 (Successor Company), was $283.5 million (including $266.9 million in the Annuities segment and $16.6 million in the Acquisitions segment) with a GMDB reserve of $33.1 million and $0.3 million in the Annuities and Acquisitions segment, respectively. The average attained age of contract holders as of December 31, 2015 for the Company was 69 . These amounts exclude certain VA business which has been 100% reinsured to Commonwealth Annuity and Life Insurance Company (formerly known as Allmerica Financial Life Insurance and Annuity Company) (“CALIC”) under a Modco agreement. The guaranteed amount payable associated with the annuities reinsured to CALIC was $12.8 million and is included in the Acquisitions segment. The average attained age of contract holders as of December 31, 2015 , was 66 years . Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ 23,893 $ 21,695 $ 13,608 $ 19,606 Incurred guarantee benefits 8,285 2,506 10,130 (3,133 ) Less: Paid guarantee benefits 2,247 442 2,043 2,865 Ending balance $ 29,931 $ 23,759 $ 21,695 $ 13,608 Account balances of variable annuities with guarantees invested in variable annuity separate accounts are as follows: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Equity mutual funds $ 5,476,366 $ 7,834,480 Fixed income mutual funds 7,184,528 5,137,312 Total $ 12,660,894 $ 12,971,792 Certain of the Company's fixed annuities and universal life products have a sales inducement in the form of a retroactive interest credit ("RIC"). In addition, certain annuity contracts provide a sales inducement in the form of a bonus interest credit. The Company maintains a reserve for all interest credits earned to date. The Company defers the expense associated with the RIC and bonus interest credits each period and amortizes these costs in a manner similar to that used for DAC. Activity in the Company's deferred sales inducement asset was as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Deferred asset, beginning of period $ — $ 155,150 $ 146,651 $ 143,949 Amounts deferred 14,557 82 18,302 15,274 Amortization (2,801 ) (1,139 ) (9,803 ) (12,572 ) Deferred asset, end of period $ 11,756 $ 154,093 $ 155,150 $ 146,651

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
REINSURANCE	RECENTLY ANNOUNCED REINSURANCE AND FINANCING TRANSACTION On January 15, 2016, the Company completed the transaction contemplated by the Master Agreement, dated September 30, 2015 (the “Master Agreement”), with Genworth Life and Annuity Insurance Company (“GLAIC”). Pursuant to the Master Agreement, on January 15, 2016, the Company entered into a reinsurance agreement (the “Reinsurance Agreement”) under the terms of which the Company coinsures certain term life insurance business of GLAIC (the “GLAIC Block”). In connection with the reinsurance transaction, on January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a wholly owned subsidiary of the Company, and Steel City, LLC (“Steel City”), a newly formed wholly owned subsidiary of PLC, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by the Company and West Coast Life Insurance Company ("WCL"), a direct wholly owned subsidiary. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLC, WCL and the Company, meaning that none of these companies are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. In connection with the transaction, PLC has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. The estimated average annual expense of the credit enhancement under generally accepted accounting principles is approximately $3.1 million , after-tax. As a result of the financing transaction described above, the $800 million of Golden Gate Series A Surplus Notes held by PLC were contributed to the Company and then subsequently contributed to Golden Gate, which resulted in the extinguishment of these notes. Also on January 15, 2016, Golden Gate paid an extraordinary dividend of $300 million to the Company as approved by the Vermont Department of Financial Regulation. REINSURANCE The Company reinsures certain of its risks with (cedes), and assumes risks from, other insurers under yearly renewable term, coinsurance, and modified coinsurance agreements. Under yearly renewable term agreements, the Company reinsures only the mortality risk, while under coinsurance the Company reinsures a proportionate share of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate share of the premiums less commissions and is liable for a corresponding share of all benefit payments. Modified coinsurance is accounted for in a manner similar to coinsurance except that the liability for future policy benefits is held by the ceding company, and settlements are made on a net basis between the companies. Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to us under the terms of the reinsurance agreements. The Company monitors the concentration of credit risk the Company has with any reinsurer, as well as the financial condition of its reinsurers. As of December 31, 2015 (Successor Company), the Company had reinsured approximately 48% of the face value of its life insurance in-force. The Company has reinsured approximately 20% of the face value of its life insurance in-force with the following three reinsurers: • Security Life of Denver Insurance Co. (currently administered by Hanover Re) • Swiss Re Life & Health America Inc. • The Lincoln National Life Insurance Co. (currently administered by Swiss Re Life & Health America Inc.) The Company has not experienced any credit losses for the years ended December 31, 2015 (Successor Company), December 31, 2014 (Predecessor Company), or December 31, 2013 (Predecessor Company) related to these reinsurers. The Company has set limits on the amount of insurance retained on the life of any one person. In 2005, the Company increased its retention for certain newly issued traditional life products from $500,000 to $1,000,000 on any one life. During 2008, the Company increased its retention limit to $2,000,000 on certain of its traditional and universal life products. Reinsurance premiums, commissions, expense reimbursements, benefits, and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. The cost of reinsurance related to short-duration contracts is accounted for over the reinsurance contract period. Amounts recoverable from reinsurers, for both short-duration and long-duration reinsurance arrangements, are estimated in a manner consistent with the claim liabilities and policy benefits associated with reinsured policies. The following table presents the net life insurance in-force: Successor Company Predecessor Company As of December 31, As of December 31, 2015 2014 2013 (Dollars In Millions) (Dollars In Millions) Direct life insurance in-force $ 727,705 $ 721,036 $ 726,697 Amounts assumed from other companies 39,547 43,237 46,752 Amounts ceded to other companies (368,142 ) (388,890 ) (416,809 ) Net life insurance in-force $ 399,110 $ 375,383 $ 356,640 Percentage of amount assumed to net 10 % 12 % 13 % The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Premiums and policy fees: Life insurance $ 2,360,643 $ (1,058,706 ) $ 308,280 $ 1,610,217 (1) 19.1 % Accident/health insurance 70,243 (36,871 ) 18,252 51,624 35.4 Property and liability insurance 228,500 (79,294 ) 6,904 156,110 4.4 Total $ 2,659,386 $ (1,174,871 ) $ 333,436 $ 1,817,951 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Premiums and policy fees: Life insurance $ 204,185 $ (80,657 ) $ 28,601 $ 152,129 (1) 18.8 % Accident/health insurance 6,846 (4,621 ) 1,809 4,034 44.8 Property and liability insurance 18,475 (6,354 ) 666 12,787 5.2 Total $ 229,506 $ (91,632 ) $ 31,076 $ 168,950 For The Year Ended December 31, 2014 Premiums and policy fees: Life insurance $ 2,603,956 $ (1,279,908 ) $ 349,934 $ 1,673,982 (1) 20.9 % Accident/health insurance 81,037 (42,741 ) 20,804 59,100 35.2 Property and liability insurance 218,663 (73,094 ) 8,675 154,244 5.6 Total $ 2,903,656 $ (1,395,743 ) $ 379,413 $ 1,887,326 For The Year Ended December 31, 2013 Premiums and policy fees: Life insurance $ 2,371,872 $ (1,299,631 ) $ 306,921 $ 1,379,162 (1) 22.3 % Accident/health insurance 45,262 (20,011 ) 24,291 49,542 49.0 Property and liability insurance 210,999 (67,795 ) 7,977 151,181 5.3 Total $ 2,628,133 $ (1,387,437 ) $ 339,189 $ 1,579,885 (1) Includes annuity policy fees of $77.2 million , $7.7 million , $92.8 million , and $88.7 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company), respectively. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), policy and claim reserves relating to insurance ceded of $5.3 billion and $5.9 billion , respectively, are included in reinsurance receivables. Should any of the reinsurers be unable to meet its obligation at the time of the claim, the Company would be obligated to pay such claims. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had paid $77.9 million and $120.5 million , respectively, of ceded benefits which are recoverable from reinsurers. In addition, as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had receivables of $64.9 million and $65.8 million , respectively, related to insurance assumed. The Company’s third party reinsurance receivables amounted to $5.3 billion and $5.9 billion as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), respectively. These amounts include ceded reserve balances and ceded benefit payments. The ceded benefit payments are recoverable from reinsurers. The following table sets forth the receivables attributable to our more significant reinsurance partners: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) (Dollars In Millions) Security Life of Denver Insurance Company $ 800.6 A $ 842.1 A Swiss Re Life & Health America, Inc. 719.2 A+ 820.9 A+ Lincoln National Life Insurance Co. 546.0 A+ 556.3 A+ Transamerica Life Insurance Co. 396.6 A+ 497.7 A+ RGA Reinsurance Company 303.5 A+ 412.4 A+ SCOR Global Life USA Reinsurance Company 320.4 A 411.8 A American United Life Insurance Company 314.2 A+ 336.1 A+ Scottish Re (U.S.), Inc. 268.6 NR 298.0 NR Centre Reinsurance (Bermuda) Ltd 247.6 NR 260.9 NR Employers Reassurance Corporation 224.4 A- 254.3 A- The Company's reinsurance contracts typically do not have a fixed term. In general, the reinsurers' ability to terminate coverage for existing cessions is limited to such circumstances as material breach of contract or non-payment of premiums by the ceding company. The reinsurance contracts generally contain provisions intended to provide the ceding company with the ability to cede future business on a basis consistent with historical terms. However, either party may terminate any of the contracts with respect to future business upon appropriate notice to the other party. Generally, the reinsurance contracts do not limit the overall amount of the loss that can be incurred by the reinsurer. The amount of liabilities ceded under contracts that provide for the payment of experience refunds is immaterial.

DEBT AND OTHER OBLIGATIONS

DEBT AND OTHER OBLIGATIONS	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
DEBT AND OTHER OBLIGATIONS	DEBT AND OTHER OBLIGATIONS In conjunction with the Merger and in accordance with ASC Topic 805, the Company adjusted the carrying value of debt to fair value as of the date of the Merger, February 1, 2015. This resulted in PLC and the Company establishing premiums and discounts on PLC's outstanding debt, subordinated debentures and PLC and the Company's non-recourse funding obligations. The carrying value of the Company’s revolving line of credit approximates fair value due to the nature of the borrowings and the fact the Company pays a variable rate of interest that reflects current market conditions. The fair value of PLC’s senior notes and subordinated debt and PLC and the Company's non-recourse funding obligations associated with Golden Gate II Captive Insurance Company and MONY Life Insurance Company were determined using market prices as of February 1, 2015. The fair value of the Golden Gate V non-recourse funding obligation was determined using a discounted cash flow model with inputs derived from comparable financial instruments. The premiums and discounts established as of February 1, 2015 are amortized over the expected life of the instruments using the effective interest method. The amortization of premiums and discounts are recorded as a component of interest expense and are recorded in “Other operating expenses” on the Company’s consolidated statements of income. Under a revolving line of credit arrangement that was in effect until February 2, 2015 (the “Credit Facility”), the Company and PLC had the ability to borrow on an unsecured basis up to an aggregate principal amount of $750 million . The Company had the right, in certain circumstances, to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.0 billion . Balances outstanding under the Credit Facility accrued interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of PLC’s senior unsecured long-term debt (“Senior Debt”), or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent's prime rate , (y) 0.50% above the Federal Funds rate , or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of PLC’s Senior Debt. The Credit Facility also provided for a facility fee at a rate, 0.175% , that could vary with the ratings of PLC’s Senior Debt and that was calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The Credit Facility provided that PLC was liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the Credit Facility. The maturity date of the Credit Facility was July 17, 2017. The Company was not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2014 (Predecessor Company). The Company did not have an outstanding balance under the Credit Facility as of December 31, 2014 (Predecessor Company). PLC had an outstanding balance of $450.0 million bearing interest at a rate of LIBOR plus 1.20% under the Credit Facility as of December 31, 2014 (Predecessor Company). As of December 31, 2014 (Predecessor Company), the Company had used $55.0 million of borrowing capacity by executing a Letter of Credit under the Credit Facility for the benefit of an affiliated captive reinsurance subsidiary of the Company. This Letter of Credit had not been drawn upon as of December 31, 2014 (Predecessor Company). On February 2, 2015, the Company and PLC amended and restated the Credit Facility (the “2015 Credit Facility”). Under the 2015 Credit Facility, the Company has the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion . The Company has the right in certain circumstances to request that the commitment under the 2015 Credit Facility be increased up to a maximum principal amount of $1.25 billion . Balances outstanding under the 2015 Credit Facility accrue interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of PLC’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent's prime rate , (y) 0.50% above the Federal Funds rate , or (z) the one month LIBOR plus 1.00% and (B) a spread based on the ratings of PLC’s Senior Debt. The 2015 Credit Facility also provided for a facility fee at a rate that varies with the ratings of PLC’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The initial facility fee rate was 0.15% on February 2, 2015, and was adjusted to 0.125% upon PLC's subsequent ratings upgrade on February 2, 2015. The 2015 Credit Facility provides that PLC is liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the 2015 Credit Facility. The maturity date of the 2015 Credit Facility is February 2, 2020. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of February 2, 2015 or the 2015 Credit Facility as of December 31, 2015 (Successor Company). PLC had an outstanding balance of $485.0 million bearing interest at a rate of LIBOR plus 1.00% as of December 31, 2015 (Successor Company). As of December 31, 2015 (Successor Company), the $55.0 million Letter of Credit, executed by the Company, was no longer issued and outstanding. Non-Recourse Funding Obligations Golden Gate Captive Insurance Company Golden Gate Captive Insurance Company (“Golden Gate”), a Vermont special purpose financial insurance company and wholly owned subsidiary, had three series of non-recourse funding obligations with a total outstanding balance of $800 million as of December 31, 2015 (Successor Company). As of December 31, 2015, PLC held the entire outstanding balance of non-recourse funding obligations. As of December 31, 2015, the Series A1 non-recourse funding obligations had a balance of $400 million and accrue interest at a fixed rate of 7.375% , the Series A2 non-recourse funding obligations had a balance of $100 million and accrue interest at a fixed rate of 8% , and the Series A3 non-recourse funding obligations had a balance of $300 million and accrue interest at a fixed rate of 8.45% . In connection with the reinsurance transaction pursuant to which the Company reinsures the GLAIC Block, on January 15, 2016, Golden Gate and Steel City, LLC (“Steel City”), a newly formed wholly owned subsidiary of PLC, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by the Company and WCL, a direct wholly owned subsidiary. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLC, WCL, and the Company, meaning that none of these companies are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. In connection with the transaction, PLC has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. As a result of the financing transaction described above, the $800 million of Golden Gate Series A Surplus Notes held by PLC were contributed to the Company and then subsequently contributed to Golden Gate, which resulted in the extinguishment of these notes. Golden Gate II Captive Insurance Company Golden Gate II Captive Insurance Company (“Golden Gate II”), a South Carolina special purpose financial captive insurance company and wholly owned subsidiary, had $575 million of non-recourse funding obligations outstanding as of December 31, 2015 (Successor Company). These outstanding non-recourse funding obligations were issued to special purpose trusts, which in turn issued securities to third parties. Certain of our affiliates own a portion of these securities. As of December 31, 2015 (Successor Company), securities related to $144.9 million of the outstanding balance of the non-recourse funding obligations were held by external parties, securities related to $145.3 million of the non-recourse funding obligations were held by nonconsolidated affiliates, and securities related to $284.8 million of the non-recourse funding obligations were held by consolidated subsidiaries of the Company. PLC has entered into certain support agreements with Golden Gate II obligating it to make capital contributions or provide support related to certain of Golden Gate II’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate II. These support agreements provide that amounts would become payable by PLC to Golden Gate II if its annual general corporate expenses were higher than modeled amounts or if Golden Gate II’s investment income on certain investments or premium income was below certain actuarially determined amounts. As of December 31, 2015 (Successor Company), no payments have been made under these agreements and $1.9 million amounts are collateralized by PLC under these agreements. Re-evaluation and, if necessary, adjustments of any support agreement collateralization amounts occurs annually during the first quarter pursuant to the terms on the support agreement. There are no support agreements between the Company and Golden Gate II. Golden Gate V Vermont Captive Insurance Company On October 10, 2012, Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”), a Vermont special purpose financial insurance company and Red Mountain, LLC (“Red Mountain”), both wholly owned subsidiaries, entered into a 20 -year transaction to finance up to $945 million of “AXXX” reserves related to a block of universal life insurance policies with secondary guarantees issued by the Company and its subsidiary, West Coast Life Insurance Company (“WCL”). Golden Gate V issued non-recourse funding obligations to Red Mountain, and Red Mountain issued a note with an initial principal amount of $275 million , increasing to a maximum of $945 million in 2027, to Golden Gate V for deposit to a reinsurance trust supporting Golden Gate V’s obligations under a reinsurance agreement with WCL, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. Through the structure, Hannover Life Reassurance Company of America (“Hannover Re”), the ultimate risk taker in the transaction, provides credit enhancement to the Red Mountain note for the 20 -year term in exchange for a fee. The transaction is “non-recourse” to Golden Gate V, Red Mountain, WCL, PLC, and the Company, meaning that none of these companies are liable for the reimbursement of any credit enhancement payments required to be made. As of December 31, 2015 (Successor Company), the principal balance of the Red Mountain note was $500 million . Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $134.2 million and will be paid in annual installments through 2031. In connection with the transaction, PLC has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate V or Red Mountain. The support agreements provide that amounts would become payable by PLC if Golden Gate V's annual general corporate expenses were higher than modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, PLC has entered into separate agreements to indemnify Golden Gate V with respect to material adverse changes in non-guaranteed elements of insurance policies reinsured by Golden Gate V and to guarantee payment of certain fee amounts in connection with the credit enhancement of the Red Mountain note. As of December 31, 2015 (Successor Company), no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate V had a $500 million outstanding non-recourse funding obligation as of December 31, 2015 (Successor Company). This non-recourse funding obligation matures in 2037, has scheduled increases in principal to a maximum of $945 million , and accrues interest at a fixed annual rate of 6.25% . Non-recourse funding obligations outstanding as of December 31, 2015 (Successor Company), on a consolidated basis, are shown in the following table: Issuer Carrying Value (1) Maturity Year Year-to-Date Weighted- Avg Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2) $ 1,148,237 2037 4.66 % Golden Gate II Captive Insurance Company 236,123 2052 1.22 % Golden Gate V Vermont Captive Insurance Company (2) 564,679 2037 5.12 % MONY Life Insurance Company (2) 2,524 2024 6.19 % Total $ 1,951,563 (1) Carrying values include premiums and discounts and do no represent unpaid principal balances. (2) Fixed rate obligations During the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company did no t repurchase any of its outstanding non-recourse funding obligations. For the year ended December 31, 2014 (Predecessor Company), the Company and its subsidiaries repurchased $37.7 million of its outstanding non-recourse funding obligations, at a discount. These repurchases resulted in a $7.4 million pre-tax gain for the Company. For the year ended December 31, 2013 (Predecessor Company), the Company and its subsidiaries repurchased $68.5 million of its outstanding non-recourse funding obligations, at a discount. These repurchases resulted in a $15.4 million pre-tax gain for the Company. Letters of Credit Golden Gate III Vermont Captive Insurance Company Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the original Reimbursement Agreement, dated April 23, 2010, UBS issued a letter of credit (the “LOC”) in the initial amount of $505 million to a trust for the benefit of WCL. The Reimbursement Agreement was subsequently amended and restated effective November 21, 2011 (the “First Amended and Restated Reimbursement Agreement”), to replace the existing LOC with one or more letters of credit from UBS, and to extend the maturity date from April 1, 2018 to April 1, 2022. On August 7, 2013, Golden Gate III entered into a Second Amended and Restated Reimbursement Agreement with UBS (the “Second Amended and Restated Reimbursement Agreement”), which amended and restated the First Amended and Restated Reimbursement Agreement. Under the Second and Amended and Restated Reimbursement Agreement a new LOC in an initial amount of $710 million was issued by UBS in replacement of the existing LOC issued under the First Amended and Restated Reimbursement Agreement. The term of the LOC was extended from April 1, 2022 to October 1, 2023, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $610 million to $720 million in 2015 if certain conditions had been met. On June 25, 2014, Golden Gate III entered into a Third Amended and Restated Reimbursement Agreement with UBS (the “Third Amended and Restated Reimbursement Agreement”), which amended and restated the Second Amended and Restated Reimbursement Agreement. Under the Third Amended and Restated Reimbursement Agreement, a new LOC in an initial amount of $915 million was issued by UBS in replacement of the existing LOC issued under the Second Amended and Restated Reimbursement Agreement. The term of the LOC was extended from October 1, 2023 to April 1, 2025, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $720 million to $935 million in 2015 if certain conditions are met. The LOC is held in trust for the benefit of WCL and supports certain obligations of Golden Gate III to WCL under an indemnity reinsurance agreement originally effective April 1, 2010, as amended and restated on November 21, 2011, and as further amended and restated on August 7, 2013 and on June 25, 2014 to include additional blocks of policies, and pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. The LOC balance was $935 million as of December 31, 2015 (Successor Company). The term of the LOC is expected to be approximately 15 years from the original issuance date. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate III are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate III obligating PLC to make capital contributions or provide support related to certain of Golden Gate III’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate III. Future scheduled capital contributions amount to approximately $122.5 million and will be paid in three installments with the last payment occurring in 2021, and these contributions may be subject to potential offset against dividend payments as permitted under the terms of the Third Amended and Restated Reimbursement Agreement. The support agreements provide that amounts would become payable by PLC to Golden Gate III if Golden Gate III’s annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate III. Pursuant to the terms of an amended and restated letter agreement with UBS, PLC has continued to guarantee the payment of fees to UBS as specified in the Third Amended and Restated Reimbursement Agreement. As of December 31, 2015 (Successor Company), no payments have been made under these agreements. Golden Gate IV Vermont Captive Insurance Company Golden Gate IV Vermont Captive Insurance Company (“Golden Gate IV”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement with UBS AG, Stamford Branch, as issuing lender. Under the Reimbursement Agreement, dated December 10, 2010, UBS issued an LOC in the initial amount of $270 million to a trust for the benefit of WCL. The LOC balance has increased, in accordance with the terms of the Reimbursement Agreement, during 2015 and was $780 million as of December 31, 2015 (Successor Company). Subject to certain conditions, the amount of the LOC will be periodically increased up to a maximum of $790 million in 2016. The term of the LOC is expected to be 12 years from the original issuance date (stated maturity of December 30, 2022). The LOC was issued to support certain obligations of Golden Gate IV to WCL under an indemnity reinsurance agreement, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate IV are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate IV obligating PLC to make capital contributions or provide support related to certain of Golden Gate IV’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate IV. The support agreements provide that amounts would become payable by PLC to Golden Gate IV if Golden Gate IV’s annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate IV. PLC has also entered into a separate agreement to guarantee the payments of LOC fees under the terms of the Reimbursement Agreement. As of December 31, 2015 (Successor Company), no payments have been made under these agreements. Repurchase Program Borrowings While the Company anticipates that the cash flows of its operating subsidiaries will be sufficient to meet its investment commitments and operating cash needs in a normal credit market environment, the Company recognizes that investment commitments scheduled to be funded may, from time to time, exceed the funds then available. Therefore, the Company has established repurchase agreement programs for certain of its insurance subsidiaries to provide liquidity when needed. The Company expects that the rate received on its investments will equal or exceed its borrowing rate. Under this program, the Company may, from time to time, sell an investment security at a specific price and agree to repurchase that security at another specified price at a later date. These borrowings are for a term less than 90 days . The market value of securities to be repurchased is monitored and collateral levels are adjusted where appropriate to protect the counterparty against credit exposure. Cash received is invested in fixed maturity securities, and the agreements provided for net settlement in the event of default or on termination of the agreements. As of December 31, 2015 (Successor Company), the fair value of securities pledged under the repurchase program was $479.9 million and the repurchase obligation of $438.2 million was included in the Company’s consolidated balance sheets (at an average borrowing rate of 36 basis points). During the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the maximum balance outstanding at any one point in time related to these programs was $912.7 million and $175.0 million , respectively. The average daily balance was $540.3 million and $77.4 million (at an average borrowing rate of 20 and 16 basis points, respectively) during the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), respectively. As of December 31, 2014 (Predecessor Company), the Company had a $50.0 million outstanding balance related to such borrowings. During 2014, the maximum balance outstanding at any one point in time related to these programs was $633.7 million . The average daily balance was $470.4 million (at an average borrowing rate of 11 basis points) during the year ended December 31, 2014 (Predecessor Company). The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2015 (Successor Company): Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2015 (Successor Company) (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 108,875 $ — $ — $ — $ 108,875 State and municipal securities — — — — — Other asset-backed securities — — — — — Corporate securities — — — — — Equity securities — — — — — Non-U.S. sovereign debt — — — — — Mortgage loans 371,002 — — — 371,002 Total borrowings $ 479,877 $ — $ — $ — $ 479,877 Other Obligations The Company routinely receives from or pays to affiliates under the control of PLC reimbursements for expenses incurred on one another’s behalf. Receivables and payables among affiliates are generally settled monthly. Interest Expense Interest expense on non-recourse funding obligations, letters of credit, and other temporary borrowings was $106.4 million , $10.0 million , $118.6 million , $111.4 million , for the periods of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company), respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company leases administrative and marketing office space in approximately 17 cities, including 24,090 square feet in Birmingham (excluding the home office building), with most leases being for periods of three to ten years . The Company had rental expense of $10.2 million , $0.9 million , $10.8 million , and $11.2 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company), respectively. The aggregate annualized rent was approximately $6.3 million for the year ended December 31, 2015 (Successor Company). The following is a schedule by year of future minimum rental payments required under these leases: Year Amount (Dollars In Thousands) 2016 $ 4,406 2017 4,042 2018 3,829 2019 3,644 2020 3,600 Thereafter 13,145 Additionally, the Company leases a building contiguous to its home office. The lease was renewed in December 2013 and was extended to December 2018. At the end of the lease term the Company may purchase the building for approximately $75 million . Monthly rental payments are based on the current LIBOR rate plus a spread. The following is a schedule by year of future minimum rental payments required under this lease: Year Amount (Dollars In Thousands) 2016 $ 1,385 2017 1,381 2018 76,356 As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had outstanding mortgage loan commitments of $601.9 million at an average rate of 4.43% and $537.7 million at an average rate of 4.61% , respectively. Under insurance guaranty fund laws, in most states insurance companies doing business therein can be assessed up to prescribed limits for policyholder losses incurred by insolvent companies. In addition, from time to time, companies may be asked to contribute amounts beyond prescribed limits. Most insurance guaranty fund laws provide that an assessment may be excused or deferred if it would threaten an insurer’s own financial strength. The Company does not believe its insurance guaranty fund assessments will be materially different from amounts already provided for in the financial statements. A number of civil jury verdicts have been returned against insurers, broker dealers and other providers of financial services involving sales, refund or claims practices, alleged agent misconduct, failure to properly supervise representatives, relationships with agents or persons with whom the insurer does business, and other matters. Often these lawsuits have resulted in the award of substantial judgments that are disproportionate to the actual damages, including material amounts of punitive and non-economic compensatory damages. In some states, juries, judges, and arbitrators have substantial discretion in awarding punitive non-economic compensatory damages which creates the potential for unpredictable material adverse judgments or awards in any given lawsuit or arbitration. Arbitration awards are subject to very limited appellate review. In addition, in some class action and other lawsuits, companies have made material settlement payments. Publicly held companies in general and the financial services and insurance industries in particular are also sometimes the target of law enforcement and regulatory investigations relating to the numerous laws and regulations that govern such companies. Some companies have been the subject of law enforcement or regulatory actions or other actions resulting from such investigations. The Company, in the ordinary course of business, is involved in such matters. The Company establishes liabilities for litigation and regulatory actions when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly and annual basis and updates its established liabilities, disclosures and estimates of reasonably possible losses or range of loss based on such reviews. In 2012, the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable income. The Company protested certain unfavorable adjustments and sought resolution at the IRS’ Appeals Division. In October 2015, the Appeals accepted the Company’s earlier proposed settlement offer. In September of 2015, the IRS proposed favorable and unfavorable adjustments to the Company’s 2008 through 2011 reported taxable income. The Company agreed to these adjustments. As a result, pending a routine review by Congress' Joint Committee on Taxation, the Company expected to receive an approximate $6.2 million net refund in a future period. A portion of this refund would be due to the Company. This refund will not materially affect the Company’s effective tax rate. Through the acquisition of MONY by the Company certain income tax credit carryforwards, which arose in MONY’s pre-acquisition tax years, transferred to the Company. This transfer was in accordance with the applicable rules of the Internal Revenue Code and the related Regulations. In spite of this transfer, AXA, the former parent of the consolidated income tax return group in which MONY was a member, retains the right to utilize these credits in the future to offset future increases in its 2010 through 2013 tax liabilities. The Company had determined that, based on all information known as of the acquisition date and through the March 31, 2014 reporting date, it was probable that a loss of the utilization of these carryforwards had been incurred. Due to indemnification received from AXA during the quarter ending June 30, 2014, the probability of loss of these carryforwards has been eliminated. Accordingly, in the table summarizing the fair value of net assets acquired from the Acquisition, the amount of the deferred tax asset from the credit carryforwards is no longer offset by a liability. The Company and certain of the Company’s insurance subsidiaries, as well as certain other insurance companies for which the Company has coinsured blocks of life insurance and annuity policies, are under audit for compliance with the unclaimed property laws of a number of states. The audits are being conducted on behalf of the treasury departments or unclaimed property administrators in such states. The focus of the audits is on whether there have been unreported deaths, maturities, or policies that have exceeded limiting age with respect to which death benefits or other payments under life insurance or annuity policies should be treated as unclaimed property that should be escheated to the state. The Company is presently unable to estimate the reasonably possible loss or range of loss that may result from the audits due to a number of factors, including uncertainty as to the legal theory or theories that may give rise to liability, the early stages of the audits being conducted, and, with respect to one block of life insurance policies that is co-insured by the Company, uncertainty as to whether the Company or other companies are responsible for the liabilities, if any, arising in connection with such policies. The Company will continue to monitor the matter for any developments that would make the loss contingency associated with the audits probable or reasonably estimable. The Company and certain of the Company’s subsidiaries are under a targeted multi-state examination with respect to their claims paying practices and their use of the U.S. Social Security Administration’s Death Master File or similar databases (a “Death Database”) to identify unreported deaths in their life insurance policies, annuity contracts and retained asset accounts. There is no clear basis in previously existing law for requiring a life insurer to search for unreported deaths in order to determine whether a benefit is owed, and substantial legal authority exists to support the position that the prevailing industry practice was lawful. A number of life insurers, however, have entered into settlement or consent agreements with state insurance regulators under which the life insurers agreed to implement procedures for periodically comparing their life insurance and annuity contracts and retained asset accounts against a Death Database, treating confirmed deaths as giving rise to a death benefit under their policies, locating beneficiaries and paying them the benefits and interest, and escheating the benefits and interest as well as penalties to the state if the beneficiary could not be found. It has been publicly reported that the life insurers have paid administrative and/or examination fees to the insurance regulators in connection with the settlement or consent agreements. The Company believes it is reasonably possible that insurance regulators could demand from the Company administrative and/or examination fees relating to the targeted multi-state examination. Based on publicly reported payments by other life insurers, the Company estimates the range of such fees to be from $0 to $4.5 million .

SHAREOWNER'S EQUITY

SHAREOWNER'S EQUITY	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
SHAREOWNER'S EQUITY	SHAREOWNER’S EQUITY PLC owns all of the 2,000 shares of non-voting preferred stock issued by the Company’s subsidiary, Protective Life and Annuity Insurance Company (“PL&A”). The stock pays, when and if declared, noncumulative participating dividends to the extent PL&A’s statutory earnings for the immediately preceding fiscal year exceeded $1.0 million . In 2015 , 2014 , and 2013 , PL&A paid no dividends to PLC on its preferred stock.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION As a result of the Merger, PLC adopted a new long-term incentive program in 2015. The program was modified to reflect the fact that PLC no longer has a publicly traded class of stock to use in its compensation programs. Prior to that time, since 1973, PLC had stock-based incentive plans designed and established to motivate management to focus on its long-range performance through the awarding of stock-based compensation. Due to change in control provision, the awards outstanding immediately prior to the Merger were cancelled and converted into the right to receive an amount in cash. For more information refer to Note 4, Dai-ichi Merger. Performance Shares (Predecessor) The criteria for payment of the 2014 performance awards was based on PLC's average operating return on average equity ("ROE") over a three -year period. If PLC's ROE was below 10.5% , no award was earned. If PLC's ROE was at or above 12.0% , the award maximum was earned. The criteria for payment of the 2013 performance awards was based on PLC's average operating ROE over a three -year period. If PLC's ROE was below 10.0% , no award was earned. If PLC's ROE was at or above 11.5% , the award maximum was earned. Performance shares were equivalent in value to one share of PLC's common stock times the award earned percentage payout. Performance share awards of 203,295 performance share awards were issued during the year ended December 31, 2014 (Predecessor Company). Performance share awards and the estimated fair value of the awards at grant date are as follows: Year Awarded Performance Shares Estimated Fair Value (Dollars In Thousands) 2014 203,295 $ 10,484 2013 298,500 9,328 2012 306,100 8,608 Stock Appreciation Rights (Predecessor) Stock Appreciation Rights ("SARs") were granted to certain officers of PLC to provide long-term incentive compensation based solely on the performance of PLC's common stock. The SARs were exercisable either 5 years after the date of grant or in three or four equal annual installments beginning one year after the date of grant (earlier upon the death, disability, or retirement of the officer, or in certain circumstances, of a change in control of PLC) and expire after ten years or upon termination of employment. The SARs activity as well as weighted-average base price was as follows: Weighted-Average Base Price Per Share No. of SARs Balance at December 31, 2012 $ 22.15 1,641,167 SARs exercised / forfeited 18.54 (336,066 ) Balance at December 31, 2013 $ 23.08 1,305,101 SARs exercised / forfeited 22.07 (1,147,473 ) Balance at December 31, 2014 $ 30.41 157,628 The outstanding SARs as of December 31, 2014 (Predecessor Company), were at the following base prices: Base Price SARs Outstanding Remaining Life in Years Currently Exercisable $41.05 10,000 1 10,000 $43.46 22,300 3 22,300 $38.59 52,000 4 52,000 $3.50 46,110 5 46,110 $18.36 27,218 6 27,218 There were no SARs issued for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company). These fair values were estimated using a Black-Scholes option pricing model. The assumptions used in this pricing model varied depending on the vesting period of awards. Assumptions used in the model for the 2010 SARs granted (the simplified method under the ASC Compensation-Stock Compensation Topic was used for the 2010 awards) were as follows: an expected volatility of 69.4% , a risk-free interest rate of 2.6% , a dividend rate of 2.4% , a zero percent forfeiture rate, and expected exercise date of 2016. Due to the change in control provision, all SARs outstanding immediately prior to the Merger were cancelled and converted into the right to receive an amount in cash. Restricted Stock Units (Predecessor) Restricted stock units were awarded to participants and include certain restrictions relating to vesting periods. PLC issued 98,700 restricted stock units for the year ended December 31, 2014 (Predecessor Company) and 166,850 restricted stock units for the year ended December 31, 2013 (Predecessor Company). These awards had a total fair value at grant date of $5.1 million and $5.5 million , respectively. Approximately half of these restricted stock units were to vest after three years from grant date and the remainder vest after four years. PLC recognizes all stock-based compensation expense over the related service period of the award, or earlier for retirement eligible employees. The expense recorded by PLC for its stock-based compensation plans was $25.9 million and $15.7 million in 2014 and 2013, respectively. PLC's obligations of its stock-based compensation plans that are expected to be settled in shares of PLC's common stock are reported as a component of shareowner's equity, net of deferred taxes. As of December 31, 2014 (Predecessor Company), the total compensation cost related to non-vested stock-based compensation not yet recognized was $27.0 million . Due to the Merger, the unrecognized stock compensation expense was accelerated as of the date of the merger due to a change in control provision. The following table provides information as of December 31, 2014 (Predecessor Company), regarding equity compensation plans under which the Company's common stock was authorized for issuance: Securities Authorized for Issuance under Equity Compensation Plans Plan category Number of securities to be issued upon exercise of outstanding options, warrants and rights as of December 31, 2014 (a) Weighted-average exercise price of outstanding options, warrants and rights as of December 31, 2014 (b) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) as of of December 31, 2014 (c) Equity compensation plans approved by shareowners 1,960,959 (1) $ 22.07 (3) 4,092,546 (4) Equity compensation plans not approved by shareowners 193,720 (2) Not applicable Not applicable (5) Total 2,154,679 $ 22.07 4,092,546 (1) Includes the following number of shares: (a) 102,458 shares issuable with respect to outstanding SARs (assuming for this purpose that one share of common stock will be payable with respect to each outstanding SAR); (b) 907,487 shares issuable with respect to outstanding performance share awards (assuming for this purpose that the awards are payable based on estimated performance under the awards as of September 30, 2014); (c) 313,199 shares issuable with respect to outstanding restricted stock units (assuming for this purpose that shares will be payable with respect to all outstanding restricted stock units); (d) 475,386 shares issuable with respect to stock equivalents representing previously earned awards under the LTIP that the recipient deferred under PLC's Deferred Compensation Plan for Officers; and (e) 162,429 shares issuable with respect to stock equivalents representing previous awards under PLC's Stock Plan for Non-Employee Directors that the recipient deferred under PLC's Deferred Compensation Plan for Directors Who Are Not Employees of PLC. (2) Includes the following number of shares of common stock: (a) 152,709 shares issuable with respect to stock equivalents representing (i) stock awards to PLC's Directors before June 1, 2004 that the recipient deferred pursuant to PLC's Deferred Compensation Plan for Directors Who Are Not Employees of PLC and (ii) cash retainers and fees that PLC's Directors deferred under the Company's Deferred Compensation Plan for Directors Who Are Not Employees of PLC, and (b) 41,011 shares issuable with respect to stock equivalents pursuant to PLC's Deferred Compensation Plan for Officers. (3) Based on exercise prices of outstanding SARs. (4) Represents shares of common stock available for future issuance under the LTIP and PLC's Stock Plan for Non-Employee Directors. (5) The plans listed in Note (2) do not currently have limits on the number of shares of common stock issuable under such plans. The total number of shares of common stock that may be issuable under such plans will depend upon, among other factors, the deferral elections made by the plans' participants

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Due to the Dai-ichi acquisition, PLC remeasured all materially impacted benefit plans as of January 31, 2015. Financial remeasurement was performed for the defined benefit pension plan, the unfunded excess benefit plan, and the postretirement life insurance plan as of January 31, 2015. The January results for the retiree life plan were not material, and therefore, remeasurement was not deemed necessary for this plan. PLC has disclosed relevant financial information related to the January 31, 2015 remeasurement. Beginning with the December 31, 2015 measurement, PLC changed its method used to estimate the service and interest cost components of net periodic benefit cost for pension and other postretirement benefits by applying a spot rate approach. Historically, PLC utilized a single weighted average discount rate derived from a selected yield curve used to measure the benefit obligation as of the measurement date. Under the new spot rate approach, the actual calculation of service and interest cost will reflect an array of spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. PLC made this change to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot rates from the selected yield curve. This new approach does not affect the measurement of the total benefit obligation. Defined Benefit Pension Plan and Unfunded Excess Benefit Plan PLC sponsors a defined benefit pension plan covering substantially all of its employees, including those of the Company. Benefits are based on years of service and the employee’s compensation. Effective January 1, 2008, PLC made the following changes to its defined benefit pension plan. These changes have been reflected in the computations within this note. • Employees hired after December 31, 2007 will receive benefits under a cash balance plan. • Employees active on December 31, 2007 with age plus vesting service less than 55 years , will receive a final pay-based pension benefit for service through December 31, 2007, plus a cash balance benefit for service after December 31, 2007. • Employees active on December 31, 2007 with age plus vesting service equaling or exceeding 55 years , will receive a final pay-based pension benefit for service both before and after December 31, 2007, with a modest reduction in the formula for benefits earned after December 31, 2007. • All participants terminating employment on or after December of 2007 may elect to receive a lump sum benefit. PLC’s funding policy is to contribute amounts to the plan sufficient to meet the minimum funding requirements of the Employee Retirement Income Security Act (“ERISA”) plus such additional amounts as PLC may determine to be appropriate from time to time. Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. Under the Pension Protection Act of 2006 (“PPA”), a plan could be subject to certain benefit restrictions if the plan’s adjusted funding target attainment percentage (“AFTAP”) drops below 80% . Therefore, PLC may make additional contributions in future periods to maintain an AFTAP of at least 80% . In general, the AFTAP is a measure of how well the plan is funded and is obtained by dividing the plan’s assets by the plan’s funding liabilities. AFTAP is based on participant data, plan provisions, plan methods and assumptions, funding credit balances, and plan assets as of the plan valuation date. Some of the assumptions and methods used to determine the plan’s AFTAP may be different from the assumptions and methods used to measure the plan’s funded status on a GAAP basis. In July of 2012, the Moving Ahead for Progress in the 21 st Century Act ("MAP-21"), which includes pension funding stabilization provisions, was signed into law. These provisions establish an interest rate corridor which is designed to stabilize the segment rates used to determine funding requirements from the effects of interest rate volatility. In August of 2014, the Highway and Transportation Funding Act of 2014 ("HATFA") was signed into law. HATFA extends the funding relief provided by MAP-21 by delaying the interest rate corridor expansion. The funding stabilization provisions of MAP-21 and HATFA reduced PLC's minimum required defined benefit plan contributions for the 2013 and 2014 plan years. Since the funding stabilization provisions of MAP-21 and HATFA do not apply for Pension Benefit Guaranty Corporation ("PBGC") reporting purposes, PLC may also make additional contributions in future periods to avoid certain PBGC reporting triggers. During January of 2015 (Predecessor Company), PLC made a $2.2 million contribution to the defined benefit pension plan for the 2014 plan year. During the period of February 1, 2015 to December 31, 2015 (Successor Company), PLC contributed $1.4 million to its defined benefit pension plan for the 2014 plan year. PLC has not yet determined what amount it will fund for 2016, but estimates that the amount will be between $1 million and $10 million . PLC also sponsors an unfunded excess benefit plan, which is a nonqualified plan that provides defined pension benefits in excess of limits imposed on qualified plans by federal tax law. The following table presents the benefit obligation, fair value of plan assets, funded status, and amounts not yet recognized as components of net periodic pension costs for PLC's defined benefit pension plan and unfunded excess benefit plan as of December 31, 2015 (Successor Company), January 31, 2015 (Predecessor Company), and December 31, 2014 (Predecessor Company): Successor Company Predecessor Company December 31, 2015 January 31, 2015 December 31, 2014 Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) (Dollars In Thousands) Accumulated benefit obligation, end of year $ 250,133 $ 54,196 $ 262,290 $ 49,251 $ 249,453 $ 47,368 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 281,099 $ 51,243 $ 267,331 $ 49,575 $ 219,152 $ 39,679 Service cost 11,220 1,229 974 95 9,411 954 Interest cost 9,072 1,499 1,002 140 10,493 1,696 Amendments — — — — — — Actuarial loss/(gain) (19,235 ) 4,484 12,384 1,555 38,110 9,153 Benefits paid (13,935 ) (1,470 ) (592 ) (122 ) (9,835 ) (1,907 ) Projected benefit obligation at end of year 268,221 56,985 281,099 51,243 267,331 49,575 Change in plan assets: Fair value of plan assets at beginning of year 201,820 — 203,772 — 180,173 — Actual return on plan assets 6,751 — (3,525 ) — 17,921 — Employer contributions (1) 1,406 1,470 2,165 122 15,513 1,907 Benefits paid (13,935 ) (1,470 ) (592 ) (122 ) (9,835 ) (1,907 ) Fair value of plan assets at end of year 196,042 — 201,820 — 203,772 — After reflecting FASB guidance: Funded status (72,179 ) (56,985 ) (79,279 ) (51,243 ) (63,559 ) (49,575 ) Amounts recognized in the balance sheet: Other liabilities (72,179 ) (56,985 ) (79,279 ) (51,243 ) (63,559 ) (49,575 ) Amounts recognized in accumulated other comprehensive income: Net actuarial loss/(gain) (12,772 ) 4,484 96,965 22,401 80,430 20,983 Prior service cost/(credit) — — (1,001 ) 23 (1,033 ) 24 Total amounts recognized in AOCI $ (12,772 ) $ 4,484 $ 95,964 $ 22,424 $ 79,397 $ 21,007 (1) Employer contributions disclosed are based on the Company's fiscal filing year As a result of the Merger on February 1, 2015, all unrecognized prior service costs or credits, actuarial gains or losses, and any remaining transition assets or obligations were not carried forward. Therefore, the amounts presented in the "Amounts recognized in accumulated other comprehensive income" in the chart above were set to zero on the Merger date. Weighted-average assumptions used to determine benefit obligations as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) are as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 Defined Benefit Unfunded Excess Defined Benefit Unfunded Excess Discount rate 4.29 % 3.63 % 3.95 % 3.65 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above The benefit obligations as of January 31 were determined based on the assumptions used in the 2014 year end disclosures with the following exception: Predecessor Company Defined Benefit Unfunded Excess Discount rate 3.55 % 3.26 % Weighted-average assumptions used to determine the net periodic benefit cost for the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company) are as follows: Successor Company Predecessor Company For The Year Ended December 31, For The Year Ended December 31, 2015 2015 2014 2013 2014 2013 Defined Benefit Unfunded Excess Benefit Plan Defined Benefit Unfunded Excess Discount rate 3.95 % 3.65 % 4.86 % 4.07 % 4.30 % 3.37 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 3.0 3.0 4.0 4.0 Expected long-term return on plan assets 7.5 N/A 7.5 7.5 N/A N/A The assumed discount rates used to determine the benefit obligations were based on an analysis of future benefits expected to be paid under the plans. The assumed discount rate reflects the interest rate at which an amount that is invested in a portfolio of high-quality debt instruments on the measurement date would provide the future cash flows necessary to pay benefits when they come due. To determine an appropriate long-term rate of return assumption, PLC obtained 25 year annualized returns for each of the represented asset classes. In addition, PLC received evaluations of market performance based on PLC’s asset allocation as provided by external consultants. A combination of these statistical analytics provided results that PLC utilized to determine an appropriate long-term rate of return assumption. Components of the net periodic benefit cost for the period of February 1, 2015 to December 31, 2015 (Successor Company), for the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the years ended December 31, 2014 and 2013 (Predecessor Company) are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 2014 2013 Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) (Dollars In Thousands) Service cost — benefits earned during the period $ 11,220 $ 1,229 $ 974 $ 95 $ 9,411 $ 9,345 $ 954 $ 1,037 Interest cost on projected benefit obligation 9,072 1,499 1,002 140 10,493 8,985 1,696 1,387 Expected return on plan assets (13,214 ) — (1,293 ) — (12,166 ) (11,013 ) — — Amortization of prior service cost/(credit) — — (33 ) 1 (392 ) (392 ) 12 12 Amortization of actuarial losses (1) — — 668 138 6,821 9,631 1,516 1,792 Preliminary net periodic benefit cost 7,078 2,728 1,318 374 14,167 16,556 4,178 4,228 Settlement/curtailment expense (2) — — — — — — — 928 Total net periodic benefit cost $ 7,078 $ 2,728 $ 1,318 $ 374 $ 14,167 $ 16,556 $ 4,178 $ 5,156 (1) 2015 average remaining service period used is 9.38 years and 7.96 years for the defined benefit pension plan and unfunded excess benefit plan, respectively. (2) The unfunded excess benefit plan triggered settlement accounting for the year ended December 31, 2013 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost. PLC will not amortize any net actuarial loss/(gain) from other comprehensive income into net periodic benefit cost during 2016 since the net actuarial loss (gain) is less than 10% of the greater of the smooth value of assets or the projected benefit obligation. Allocation of plan assets of the defined benefit pension plan by category as of December 31 are as follows: Successor Company Predecessor Company Asset Category Target 2015 2014 Cash and cash equivalents 2 % 2 % 4 % Equity securities 60 61 62 Fixed income 38 37 34 Total 100 % 100 % 100 % PLC’s target asset allocation is designed to provide an acceptable level of risk and balance between equity assets and fixed income assets. The weighting towards equity securities is designed to help provide for an increased level of asset growth potential and liquidity. Prior to July 1999, upon an employee’s retirement, a distribution from pension plan assets was used to purchase a single premium annuity from the Company in the retiree’s name. Therefore, amounts shown above as plan assets exclude assets relating to such retirees. Since July 1999, retiree obligations have been fulfilled from pension plan assets. The defined benefit pension plan has a target asset allocation of 60% domestic equities, 38% fixed income, and 2% cash. When calculating asset allocation, PLC includes reserves for pre-July 1999 retirees. PLC's investment policy includes various guidelines and procedures designed to ensure assets are invested in a manner necessary to meet expected future benefits earned by participants. The investment guidelines consider a broad range of economic conditions. Central to the policy are target allocation ranges (shown above) by major asset categories. The objectives of the target allocations are to maintain investment portfolios that diversify risk through prudent asset allocation parameters, achieve asset returns that meet or exceed the plans' actuarial assumptions, and achieve asset returns that are competitive with like institutions employing similar investment strategies. The plan's equity assets are in a Russell 3000 index fund that invests in a domestic equity index collective trust managed by Northern Trust Corporation and in a Spartan 500 index fund managed by Fidelity. The plan's cash is invested in a collective trust managed by Northern Trust Corporation. The plan's fixed income assets are invested in a group deposit administration annuity contract with the Company. Plan assets of the defined benefit pension plan by category as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) are as follows: Successor Company Predecessor Company Asset Category As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Cash and cash equivalents $ 3,121 $ 7,968 Equity securities: Collective Russell 3000 equity index fund 72,663 79,660 Fidelity Spartan 500 index fund 52,551 51,848 Fixed income 67,707 64,296 Total investments 196,042 203,772 Employer contribution receivable — 2,165 Total $ 196,042 $ 205,937 The valuation methodologies used to determine the fair values reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value. The Plan's group deposit administration annuity contract with the Company is recorded at contract value, which, by utilizing a long-term view, PLC believes approximates fair value. Contract value represents contributions made under the contract, plus interest at the contract rate, less funds used to purchase annuities. Units in collective short-term and collective investment funds are valued at the unit value, which approximates fair value, as reported by the trustee of the collective short-term and collective investment funds on each valuation date. These methods of valuation may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while PLC believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Collective short-term investment fund $ 3,121 $ — $ — $ 3,121 Collective investment funds: Equity index funds 52,551 72,663 — 125,214 Group deposit administration annuity contract — — 67,707 67,707 Total investments $ 55,672 $ 72,663 $ 67,707 $ 196,042 The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Collective short-term investment fund $ 7,968 $ — $ — $ 7,968 Collective investment funds: Equity index funds 51,848 79,660 — 131,508 Group deposit administration annuity contract — — 64,296 64,296 Total investments $ 59,816 $ 79,660 $ 64,296 $ 203,772 For the period of February 1, 2015 to December 31, 2015 (Successor Company), there were no transfers between Level 2 and Level 3. For the year ended December 31, 2014 (Predecessor Company), $4.5 million was transferred into Level 3 from Level 2. This transfer was made to maintain an acceptable asset allocation as set by PLC’s investment policy. For the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the year ended December 31, 2014 (Predecessor Company), there were no transfers between Level 1 and Level 2. The following table summarizes the Plan investments measured at fair value based on NAV per share as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), respectively: Name Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period (Dollars In Thousands) Successor Company As of December 31, 2015 Collective short-term investment fund $ 3,121 Not Applicable Daily 1 day Collective Russell 3000 index fund (1) 72,663 Not Applicable Daily 1 day Fidelity Spartan 500 index fund 52,551 Not Applicable Daily 1 day Predecessor Company As of December 31, 2014 Collective short-term investment fund $ 7,968 Not Applicable Daily 1 day Collective Russell 3000 index fund (1) 79,660 Not Applicable Daily 1 day Fidelity Spartan 500 index fund 51,848 Not Applicable Daily 1 day (1) Non-lending collective trust that does not publish a daily NAV but tracks the Russell 3000 index and provides a daily NAV to the Plan. The following table presents a reconciliation of the beginning and ending balances for the fair value measurements for the period of February 1, 2015 to December 31, 2015, for the period of January 1, 2015 to January 31, 2015, and for the year ended December 31, 2014, for which PLC has used significant unobservable inputs (Level 3): Successor Company Predecessor Company December 31, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of year $ 64,581 $ 64,296 $ 56,736 Interest income 3,126 285 3,060 Transfers from collective short-term investments fund — — 4,500 Transfers to collective short-term investments fund — — — Balance, end of year $ 67,707 $ 64,581 $ 64,296 The following table represents the Plan’s Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input as of December 31, 2015 (Successor Company): Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 67,707 Contract Value Contract Rate 5.22% - 5.41% Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect the amounts reported. Estimated future benefit payments under the defined benefit pension plan and unfunded excess benefit plan are as follows: Years Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) 2016 $ 16,947 $ 5,470 2017 18,019 7,682 2018 17,723 5,070 2019 18,517 9,097 2020 19,532 4,962 2021-2025 102,176 18,888 Other Postretirement Benefits In addition to pension benefits, PLC provides limited healthcare benefits to eligible retired employees until age 65 . This postretirement benefit is provided by an unfunded plan. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the accumulated postretirement benefit obligation associated with these benefits was $0.1 million and $0.2 million , respectively. The change in the benefit obligation for the retiree medical plan is as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 247 $ 447 Service cost 1 2 Interest cost 2 4 Actuarial (gain)/loss (113 ) 30 Plan participant contributions 141 254 Benefits paid (141 ) (490 ) Benefit obligation, end of year $ 137 $ 247 For the retiree medical plan, PLC’s discount rate assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2015 (Successor Company) is 1.54% and 1.27% , respectively. For a closed group of retirees over age 65 , PLC provides a prescription drug benefit. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), PLC’s liability related to this benefit was less than $0.1 million . PLC’s obligation is not materially affected by a 1% change in the healthcare cost trend assumptions used in the calculation of the obligation. PLC also offers life insurance benefits for retirees from $10,000 up to a maximum of $75,000 which are provided through the payment of premiums under a group life insurance policy. This plan is partially funded at a maximum of $50,000 face amount of insurance. The accumulated postretirement benefit obligation associated with these benefits is as follows: Successor Company Predecessor Company As of December 31, 2015 As of January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 9,781 $ 9,288 $ 8,653 Service cost 138 12 97 Interest cost 336 39 416 Actuarial (gain)/loss (894 ) 511 694 Benefits paid (298 ) (69 ) (572 ) Benefit obligation, end of year $ 9,063 $ 9,781 $ 9,288 For the postretirement life insurance plan, PLC’s discount rate assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2015 (Successor Company) is 4.6% and 4.21% , respectively. PLC's discount rate assumption used to determine benefit obligation as of January 1, 2015 (Predecessor Company) is 3.79% . PLC’s expected long-term rate of return assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2015 (Successor Company) is 2.75% and 3.14% , respectively. To determine an appropriate long-term rate of return assumption, PLC utilized 25 year average and annualized return results on the Barclay’s short treasury index. Investments of PLC’s group life insurance plan are held by Wells Fargo Bank, N.A. Plan assets held by the Custodian are invested in a money market fund. The fair value of each major category of plan assets for PLC’s postretirement life insurance plan is as follows: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Category of Investment Money market fund $ 5,653 $ 5,925 Investments are stated at fair value and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The money market funds are valued based on historical cost, which represents fair value, at year end. This method of valuation may produce a fair value calculation that may not be reflective of future fair values. Furthermore, while PLC believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,653 $ — $ — $ 5,653 The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,925 $ — $ — $ 5,925 For the year ended December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), there were no transfers between levels. Investments are exposed to various risks, such as interest rate and credit risks. Due to the level of risk associated with investments and the level of uncertainty related to credit risks, it is at least reasonably possible that changes in risk in the near term could materially affect the amounts reported. 401(k) Plan PLC sponsors a 401(k) Plan which covers substantially all employees. Employee contributions are made on a before-tax basis as provided by Section 401(k) of the Internal Revenue Code or as after-tax “Roth” contributions. Employees may contribute up to 25% of their eligible annual compensation to the 401(k) Plan, limited to a maximum annual amount as set periodically by the Internal Revenue Service ( $18,000 for 2015). The Plan also provides a “catch-up” contribution provision which permits eligible participants (age 50 or over at the end of the calendar year), to make additional contributions that exceed the regular annual contribution limits up to a limit periodically set by the Internal Revenue Service ( $6,000 for 2015). PLC matches the sum of all employee contributions dollar for dollar up to a maximum of 4% of an employee’s pay per year per person. All matching contributions vest immediately. Prior to 2009, employee contributions to PLC’s 401(k) Plan were matched through use of an ESOP established by PLC. Beginning in 2009, PLC adopted a cash match for employee contributions to the 401(k) plan. For the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the year ended December 31, 2014 (Predecessor Company), PLC recorded an expense of $6.3 million and $6.3 million , respectively. Effective as of January 1, 2005, PLC adopted a supplemental matching contribution program, which is a nonqualified plan that provides supplemental matching contributions in excess of the limits imposed on qualified defined contribution plans by federal tax law. The first allocations under this program were made in early 2006, with respect to the 2005 plan year. The expense recorded by PLC for this employee benefit was $0.5 million , $0.4 million , and $0.5 million , respectively, in 2015 , 2014 , and 2013 . Prior to the Merger date of February 1, 2015, PLC's outstanding and publicly traded common stock was a component of the investment options allowed to participants in the 401(k) Plan. Deferred Compensation Plan Prior to the Merger, PLC had established deferred compensation plans for directors, officers, and others. Compensation deferred was credited to the participants in cash, mutual funds, common stock equivalents, or a combination thereof. PLC, from time to time, reissued treasury shares or bought in the open market shares of common stock to fulfill its obligation under the plans. As of December 31, 2014 (Predecessor Company), the plans had 1,109,595 common stock equivalents credited to participants. PLC's obligations related to its deferred compensation plans are reported in other liabilities, unless they are to be settled in shares of its common stock, in which case they are reported as a component of shareowner's equity. On February 1, 2015, PLC became a wholly owned subsidiary of Dai-ichi Life and PLC stock ceased to be publicly traded. Thus, any common stock equivalents within the plans converted into rights to receive the merger consideration of $70.00 per common stock equivalent. As of February 1, 2015, PLC has continued the deferred compensation plans for officers and others. Compensation deferred was credited to the participants in cash, mutual funds, or a combination thereof. As of December 31, 2015 (Successor Company), PLC's obligations related to its deferred compensation plans are reported in other liabilities.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in the accumulated balances for each component of AOCI as of December 31, 2015 (Successor Company), January 31, 2015 (Predecessor Company), December 31, 2014 (Predecessor Company), and December 31, 2013 (Predecessor Company). Changes in Accumulated Other Comprehensive Income (Loss) by Component Successor Company Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, February 1, 2015 $ — $ — $ — Other comprehensive income (loss) before reclassifications (1,263,367 ) (86 ) (1,263,453 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (393 ) — (393 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 17,369 86 17,455 Net current-period other comprehensive income (loss) (1,246,391 ) — (1,246,391 ) Ending Balance, December 31, 2015 $ (1,246,391 ) $ — $ (1,246,391 ) (1) See Reclassification table below for details. (2) As of December 31, 2015 (Successor Company), net unrealized losses reported in AOCI were offset by $623.0 million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Predecessor Company Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2014 $ 1,483,293 $ (82 ) $ 1,483,211 Other comprehensive income (loss) before reclassifications 482,143 9 482,152 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (243 ) — (243 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (4,166 ) 23 (4,143 ) Net current-period other comprehensive income (loss) 477,734 32 477,766 Ending Balance January 31, 2015 $ 1,961,027 $ (50 ) $ 1,960,977 (1) See Reclassification table below for details. (2) As of January 31, 2015 and December 31, 2014, net unrealized losses reported in AOCI were offset by $(492.6) million and $(504.4) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2013 $ 540,201 $ (1,235 ) $ 538,966 Other comprehensive income (loss) before reclassifications 983,985 (2 ) 983,983 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 3,498 — 3,498 Amounts reclassified from accumulated other comprehensive income (loss) (1) (44,391 ) 1,155 (43,236 ) Net current-period other comprehensive income (loss) 943,092 1,153 944,245 Ending Balance, December 31, 2014 $ 1,483,293 $ (82 ) $ 1,483,211 (1) See Reclassification table below for details. (2) As of December 31, 2014 and 2013, net unrealized losses reported in AOCI were offset by $(504.4) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income . Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2012 $ 1,814,620 $ (3,496 ) $ 1,811,124 Other comprehensive income (loss) before reclassifications (1,250,416 ) 734 (1,249,682 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 4,591 — 4,591 Amounts reclassified from accumulated other comprehensive income (loss) (1) (28,594 ) 1,527 (27,067 ) Net current-period other comprehensive income (loss) (1,274,419 ) 2,261 (1,272,158 ) Ending Balance, December 31, 2013 $ 540,201 $ (1,235 ) $ 538,966 (1) See Reclassification table below for details. (2) As of December 31, 2012 and 2013, net unrealized losses reported in AOCI were offset by $(204.8) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income . The following table summarizes the reclassifications amounts out of AOCI for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company). Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (131 ) Benefits and settlement expenses, net of reinsurance ceded (131 ) Total before tax 45 Tax (expense) or benefit $ (86 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 271 Realized investment gains (losses): All other investments Impairments recognized in earnings (26,992 ) Net impairment losses recognized in earnings (26,721 ) Total before tax 9,352 Tax (expense) or benefit $ (17,369 ) Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (36 ) Benefits and settlement expenses, net of reinsurance ceded (36 ) Total before tax 13 Tax (expense) or benefit $ (23 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 6,891 Realized investment gains (losses): All other investments Impairments recognized in earnings (481 ) Net impairment losses recognized in earnings 6,410 Total before tax (2,244 ) Tax (expense) or benefit $ 4,166 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (1,777 ) Benefits and settlement expenses, net of reinsurance ceded (1,777 ) Total before tax 622 Tax (expense) or benefit $ (1,155 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 75,569 Realized investment gains (losses): All other investments Impairments recognized in earnings (7,275 ) Net impairment losses recognized in earnings 68,294 Total before tax (23,903 ) Tax (expense) or benefit $ 44,391 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2013 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (2,349 ) Benefits and settlement expenses, net of reinsurance ceded (2,349 ) Total before tax 822 Tax (expense) or benefit $ (1,527 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 66,437 Realized investment gains (losses): All other investments Impairments recognized in earnings (22,447 ) Net impairment losses recognized in earnings 43,990 Total before tax (15,396 ) Tax (expense) or benefit $ 28,594 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective income tax rate related to continuing operations varied from the maximum federal income tax rate as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 Statutory federal income tax rate applied to pre-tax income 35.0 % 35.0 % 35.0 % 35.0 % State income taxes 1.4 0.5 0.5 0.4 Investment income not subject to tax (6.8 ) (2.8 ) (2.7 ) (4.4 ) Uncertain tax positions — — 0.5 0.1 Other (0.3 ) 0.7 0.1 (0.1 ) 29.3 % 33.4 % 33.4 % 31.0 % The annual provision for federal income tax in these financial statements differs from the annual amounts of income tax expense reported in the respective income tax returns. Certain significant revenues and expenses are appropriately reported in different years with respect to the financial statements and the tax returns. The components of the Company’s income tax are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Current income tax expense: Federal $ 50,722 $ (48,469 ) $ 176,238 $ (18,076 ) State (4,000 ) 1,085 5,525 (222 ) Total current $ 46,722 $ (47,384 ) $ 181,763 $ (18,298 ) Deferred income tax expense: Federal $ 18,880 $ 90,774 $ 65,566 $ 149,288 State 8,889 935 (491 ) (93 ) Total deferred $ 27,769 $ 91,709 $ 65,075 $ 149,195 The components of the Company’s net deferred income tax liability are as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Deferred income tax assets: Premium receivables and policy liabilities $ — $ 154,720 Loss and credit carryforwards 115,667 35,642 Deferred compensation 108,416 104,117 Invested assets (other than unrealized gains) — 2,960 Deferred policy acquisition costs 267,542 — Premium on non-recourse funding obligations 13,872 — Net unrealized loss on investments 671,176 — Other 6,605 — Valuation allowance (3,466 ) (791 ) 1,179,812 296,648 Deferred income tax liabilities: Premium receivables and policy liabilities 202,753 — VOBA and other intangibles 632,176 — DAC and VOBA — 1,073,499 Invested assets (other than unrealized gains (losses)) 1,560,063 — Net unrealized gains (losses) on investments — 798,529 Other — 36,484 2,394,992 1,908,512 Net deferred income tax liability $ (1,215,180 ) $ (1,611,864 ) The Company’s income tax returns, except for MONY which files separately, are included in PLC’s consolidated U.S. income tax return. The deferred tax assets reported above include certain deferred tax assets related to nonqualified deferred compensation and other employee benefit liabilities. These liabilities were assumed by AXA and they were not acquired by the Company in connection with the acquisition of MONY. The future tax deductions stemming from these liabilities will be claimed by the Company on MONY's tax returns in its post-acquisition periods. These deferred tax assets have been estimated as of the MONY Acquisition date (and through the December 31, 2015 reporting date) based on all available information. However, it is possible that these estimates may be adjusted in future reporting periods based on actuarial changes to the projected future payments associated with these liabilities. Any such adjustments will be recognized by the Company as an adjustment to income tax expense during the period in which they are realized. In management’s judgment, the gross deferred income tax asset as of December 31, 2015 (Successor Company), will more likely than not be fully realized. The Company has recognized a valuation allowance of $5.3 million and $1.2 million as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), respectively, related to state-based loss carryforwards that it has determined are more likely than not to expire unutilized. This resulting unfavorable change of $4.1 million , before federal income taxes, increased state income tax expense in 2015 by the same amount. In addition, included in the deferred income tax assets above is approximately $4.5 million in state net operating loss carryforwards attributable to certain jurisdictions, which are available to offset future taxable income in the respective state jurisdictions, expiring between 2015 and 2035. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), some of the Company's fixed maturities were reported at an unrealized loss. If the Company were to realize a tax-basis net capital loss for a year, then such loss could not be deducted against that year's other taxable income. However, such a loss could be carried back and forward against any prior year or future year tax-basis net capital gains. Therefore, the Company has relied upon a prudent and feasible tax-planning strategy regarding its fixed maturities that were reported at an unrealized loss. The Company has the ability and the intent to either hold such fixed maturities to maturity, thereby avoiding a realized loss, or to generate an offsetting realized gain from unrealized gain fixed maturities if such unrealized loss fixed maturities are sold at a loss prior to maturity. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 As of December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ 105,850 $ 168,076 $ 85,846 $ 74,335 Additions for tax positions of the current year 2,213 (5,010 ) 57,392 7,464 Additions for tax positions of prior years 1,812 1,149 34,371 6,787 Reductions of tax positions of prior years: Changes in judgment (644 ) (58,365 ) (9,533 ) (2,740 ) Settlements during the period (100,294 ) — — — Lapses of applicable statute of limitations — — — — Balance, end of period $ 8,937 $ 105,850 $ 168,076 $ 85,846 Included in the end of period balance above, for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and as of December 31, 2014 and 2013 (Predecessor Company), are approximately $1.4 million , $94.9 million , $157.3 million , and $78.5 million of unrecognized tax benefits, respectively, for which the ultimate deductibility is certain but for which there is uncertainty about the timing of such deductions. Other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective income tax rate but would accelerate to an earlier period the payment of cash to the taxing authority. The total amount of unrecognized tax benefits, if recognized, that would affect the effective income tax rate is approximately $7.5 million , $11.0 million , $10.7 million , and $7.4 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and as of December 31, 2014 and 2013 (Predecessor Company), respectively. Any accrued interest related to the unrecognized tax benefits and other accrued income taxes have been included in income tax expense. There were no amounts included in any period ending in 2015 , 2014 or 2013 , as the parent company maintains responsibility for the interest on unrecognized tax benefits. The Company has no accrued interest associated with unrecognized tax benefits as of any balance sheet date ending in 2015 , 2014 , or 2013. The Company believes that in the next 12 months none of these unrecognized tax benefits will be significantly increased or reduced. In June 2012, the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable incomes. The Company protested certain unfavorable adjustments and sought resolution at the IRS’ Appeals Division. In October 2015, Appeals accepted the Company’s earlier proposed settlement offer. In September 2015, the IRS proposed favorable and unfavorable adjustments to the Company’s 2008 through 2011 reported taxable income. The Company agreed to these adjustments. The resulting net adjustment to the Company’s current income taxes for the years 2003 through 2011 will not materially affect the Company or its effective tax rate. The Company is currently under audit by the IRS for the years 2012 and 2013. As of December 31, 2015, no materially adverse adjustments to reported taxable income have been proposed. In general, the Company is no longer subject to income tax examinations by taxing authorities for tax years that began before 2012. Nevertheless, certain of these pre-2012 years have pending U.S. tax refunds. Due to their size, these refunds are being reviewed by Congress' Joint Committee on Taxation. Furthermore, due to the afore-mentioned IRS adjustments to the Company's pre-2012 taxable income, the Company is amending certain of its 2003 through 2011 state income tax returns. Such amendments will cause such years to remain open, pending the states' acceptances of the returns. At this time, the Company believes that the Joint Committee's review of its U.S. tax refunds and the states' acceptance of its amending returns will be completed this year. The underlying statutes of limitations are expected to close in due course on or before June 30, 2017.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Cash paid / (received) during the year: Interest expense $ 98,232 21,567 $ 117,776 $ 110,301 Income taxes (75,869 ) (1 ) 159,724 (54,370 )

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company leases furnished office space and computers to affiliates. Lease revenues were $4.6 million , $0.4 million , $4.9 million , and $4.9 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. The Company purchases data processing, legal, investment, and management services from affiliates. The costs of such services were $214.8 million , $19.0 million , $206.3 million , and $170.9 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. In addition, the Company has an intercompany payable with affiliates as of December 31, 2015 and 2014 of $22.5 million and $19.5 million , respectively. There was no intercompany receivable with affiliates balance as of December 31, 2015 or December 31, 2014 . Certain corporations with which PLC’s directors were affiliated paid us premiums and policy fees or other amounts for various types of insurance and investment products, interest on bonds we own and commissions on securities underwritings in which our affiliates participated. Such amounts totaled $45.3 million , $2.6 million , $33.4 million , and $40.0 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. The Company and/or PLC paid commissions, interest on debt and investment products, and fees to these same corporations totaling $10.0 million , $0.8 million , $16.5 million , and $16.4 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. Prior to the Merger, PLC and the Company had no related party transactions with Dai-ichi Life. PLC has guaranteed the Company’s obligations for borrowings or letters of credit under the revolving line of credit arrangement to which PLC is also a party. PLC has also issued guarantees, entered into support agreements and/or assumed a duty to indemnify its indirect wholly owned captive insurance companies in certain respects. In addition, as of December 31, 2015 , PLC was the sole holder of the $800 million balance of outstanding surplus notes issued by one such wholly owned captive insurance company, Golden Gate. As of February 1, 2000, PLC guaranteed the obligations of the Company under a synthetic lease entered into by the Company, as lessee, with a non-affiliated third party, as lessor. Under the terms of the synthetic lease, financing of $75 million was available to the Company for construction of an office building and parking deck which was completed on February 1, 2000. The synthetic lease was amended and restated as of December 19, 2013, wherein as of December 31, 2015 , PLC continued to guarantee the obligations of the Company thereunder. The Company has agreements with certain of its subsidiaries under which it provides administrative services for a fee. These services include but are not limited to accounting, financial reporting, compliance, policy administration, reserve computations, and projections. In addition, the Company and its subsidiaries pay PLC for investment, legal and data processing services. The Company and/or certain of its affiliates have reinsurance agreements in place with companies owned by PLC. These agreements relate to certain portions of our service contract business which is included within the Asset Protection segment. These transactions are eliminated at the PLC consolidated level. The Company has reinsured GMWB and GMDB riders related to our variable annuity contracts to Shades Creek, a wholly owned insurance subsidiary of PLC. Also during 2012, PLC entered into an intercompany capital support agreement with Shades Creek which provides through a guarantee that PLC will contribute assets or purchase surplus notes (or cause an affiliate or third party to contribute assets or purchase surplus notes) in amounts necessary for Shades Creek’s regulatory capital levels to equal or exceed minimum thresholds as defined by the agreement. Under this support agreement, the Company issued a $55 million Letter of Credit during 2014. As of December 31, 2015 (Successor Company), the $55 million Letter of Credit executed by the Company was no longer issued and outstanding. Also in accordance with this agreement, $120 million of additional capital was provided to Shades Creek by PLC through cash capital contributions during the period of February 1, 2015 to December 31, 2015 (Successor Company). As of December 31, 2015 (Successor Company), Shades Creek maintained capital levels in excess of the required minimum thresholds. The maximum potential future payment amount which could be required under the capital support agreement will be dependent on numerous factors, including the performance of equity markets, the level of interest rates, performance of associated hedges, and related policyholder behavior. As of December 31, 2012, Shades Creek was a direct wholly owned insurance subsidiary of the Company. On April 1, 2013, the Company paid to its parent, PLC, a dividend that consisted of all outstanding stock of Shades Creek. The Company will continue to reinsure GMWB and GMDB riders to Shades Creek, which include a funds withheld account that is considered a derivative. For more information related to the derivative, refer to Note 22, Fair Value of Financial Instruments and Note 23, Derivative Financial Instruments . For cash flow purposes, portions of the dividend were treated as non-cash transactions. The following balances from Shades Creek’s balance sheet as of March 31, 2013 with the exception of cash, were excluded from the Company’s cash flow statement for the year ended December 31, 2013 (Predecessor Company): As of March 31, 2013 (Dollars In Thousands) Assets Other long-term investments $ 34,093 Short-term investments 745 Total investments 34,838 Cash 44,963 Accounts and premiums receivable 16,036 Deferred policy acquisition cost 123,847 Other assets 48,953 Total assets $ 268,637 Liabilities Future policy benefits and claims $ 1,626 Other liabilities 178,321 Deferred income taxes 2,459 Total liabilities 182,406 Total equity 86,231 Total liabilities and equity $ 268,637

STATUTORY REPORTING PRACTICES A

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2015
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS The Company's insurance subsidiaries prepare statutory financial statements for regulatory purposes in accordance with accounting practices prescribed by the NAIC and the applicable state insurance department laws and regulations. These financial statements vary materially from GAAP. Statutory accounting practices include publications of the NAIC, state laws, regulations, general administrative rules as well as certain permitted accounting practices granted by the respective state insurance department. Generally, the most significant differences are that statutory financial statements do not reflect 1) deferred acquisition costs and VOBA, 2) benefit liabilities that are calculated using Company estimates of expected mortality, interest, and withdrawals, 3) deferred income taxes that are not subject to statutory limits, 4) recognition of realized gains and losses on the sale of securities in the period they are sold, and 5) fixed maturities recorded at fair values, but instead at amortized cost. Statutory net income for the Company was $440.0 million , $554.2 million , and $165.5 million for the year ended December 31, 2015 , 2014 and 2013 , respectively. Statutory capital and surplus for the Company was $3.8 billion and $3.5 billion as of December 31, 2015 and 2014 , respectively. The Company’s insurance subsidiaries are subject to various state statutory and regulatory restrictions on the insurance subsidiaries’ ability to pay dividends to Protective Life Corporation. In general, dividends up to specified levels are considered ordinary and may be paid thirty days after written notice to the insurance commissioner of the state of domicile unless such commissioner objects to the dividend prior to the expiration of such period. Dividends in larger amounts are considered extraordinary and are subject to affirmative prior approval by such commissioner. The maximum amount that would qualify as ordinary dividends to the Company from our insurance subsidiaries in 2016 is approximately $165.6 million . Additionally, as of December 31, 2015 , approximately $960.2 million of consolidated shareowner’s equity, excluding net unrealized gains on investments, represented restricted net assets of the Company’s insurance subsidiaries needed to maintain the minimum capital required by the insurance subsidiaries’ respective state insurance departments. State insurance regulators and the National Association of Insurance Commissioners ("NAIC") have adopted risk-based capital ("RBC") requirements for life insurance companies to evaluate the adequacy of statutory capital and surplus in relation to investment and insurance risks. The requirements provide a means of measuring the minimum amount of statutory surplus appropriate for an insurance company to support its overall business operations based on its size and risk profile. A company’s risk-based statutory surplus is calculated by applying factors and performing calculations relating to various asset, premium, claim, expense and reserve items. Regulators can then measure the adequacy of a company’s statutory surplus by comparing it to the RBC. Under specific RBC requirements, regulatory compliance is determined by the ratio of a company’s total adjusted capital, as defined by the insurance regulators, to its company action level of RBC (known as the RBC ratio), also as defined by insurance regulators. As of December 31, 2015 , the Company’s total adjusted capital and company action level RBC were approximately $4.1 billion and $720.6 million , respectively, providing an RBC ratio of approximately 562% . Additionally, the Company has certain assets that are on deposit with state regulatory authorities and restricted from use. As of December 31, 2015 , the Company’s insurance subsidiaries had on deposit with regulatory authorities, fixed maturity and short-term investments with a fair value of approximately $43.8 million . The states of domicile of the Company’s insurance subsidiaries have adopted prescribed accounting practices that differ from the required accounting outlined in NAIC Statutory Accounting Principles (“SAP”). The insurance subsidiaries also have certain accounting practices permitted by the states of domicile that differ from those found in NAIC SAP. Certain prescribed and permitted practices impact the statutory surplus of the Company. These practices include the non-admission of goodwill as an asset for statutory reporting and the reporting of Bank Owned Life Insurance (“BOLI”) separate account amounts at book value rather than at fair value. The favorable (unfavorable) effects of the Company’s statutory surplus, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2015 2014 (Dollars In Millions) Non-admission of goodwill $ (295 ) $ (310 ) Total (net) $ (295 ) $ (310 ) The Company also has certain prescribed and permitted practices which are applied at the subsidiary level and do not have a direct impact on the statutory surplus of the Company. These practices include permission to follow the actuarial guidelines of the domiciliary state of the ceding insurer for certain captive reinsurers, accounting for the face amount of all issued and outstanding letters of credit, and a note issued by an affiliate as an asset in the statutory financial statements of certain wholly owned subsidiaries that are considered “Special Purpose Financial Captives”, and a reserve difference related to a captive insurance company. The favorable (unfavorable) effects on the statutory surplus of the Company’s insurance subsidiaries, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2015 2014 (Dollars In Millions) Accounting for Letters of Credit as admitted assets $ 1,715 $ 1,735 Accounting for Red Mountain Note as admitted asset $ 500 $ 435 Reserving based on state specific actuarial practices $ 117 $ 112 Reserving difference related to a captive insurance company $ (118 ) $ (87 )

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company determined the fair value of its financial instruments based on the fair value hierarchy established in FASB guidance referenced in the Fair Value Measurements and Disclosures Topic which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company has adopted the provisions from the FASB guidance that is referenced in the Fair Value Measurements and Disclosures Topic for non-financial assets and liabilities (such as property and equipment, goodwill, and other intangible assets) that are required to be measured at fair value on a periodic basis. The effect on the Company's periodic fair value measurements for non-financial assets and liabilities was not material. The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the consolidated balance sheets are categorized as follows: • Level 1: Unadjusted quoted prices for identical assets or liabilities in an active market. • Level 2: Quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly. Level 2 inputs include the following: a) Quoted prices for similar assets or liabilities in active markets b) Quoted prices for identical or similar assets or liabilities in non-active markets c) Inputs other than quoted market prices that are observable d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means. • Level 3: Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 1,765,270 $ 3 $ 1,765,273 Commercial mortgage-backed securities — 1,285,864 — 1,285,864 Other asset-backed securities — 210,020 587,031 797,051 U.S. government-related securities 1,054,353 477,824 — 1,532,177 State, municipalities, and political subdivisions — 1,603,600 — 1,603,600 Other government-related securities — 17,740 — 17,740 Corporate securities 83 24,876,455 902,119 25,778,657 Preferred stock 43,073 19,614 — 62,687 Total fixed maturity securities - available-for-sale 1,097,509 30,256,387 1,489,153 32,843,049 Fixed maturity securities - trading Residential mortgage-backed securities — 286,658 — 286,658 Commercial mortgage-backed securities — 146,743 — 146,743 Other asset-backed securities — 122,511 152,912 275,423 U.S. government-related securities 233,592 4,755 — 238,347 State, municipalities, and political subdivisions — 313,354 — 313,354 Other government-related securities — 58,827 — 58,827 Corporate securities — 1,322,276 18,225 1,340,501 Preferred stock 2,794 1,402 — 4,196 Total fixed maturity securities - trading 236,386 2,256,526 171,137 2,664,049 Total fixed maturity securities 1,333,895 32,512,913 1,660,290 35,507,098 Equity securities 620,358 13,063 66,504 699,925 Other long-term investments (1) 113,699 141,487 68,384 323,570 Short-term investments 261,659 2,178 — 263,837 Total investments 2,329,611 32,669,641 1,795,178 36,794,430 Cash 212,358 — — 212,358 Assets related to separate accounts Variable annuity 12,829,188 — — 12,829,188 Variable universal life 827,610 — — 827,610 Total assets measured at fair value on a recurring basis $ 16,198,767 $ 32,669,641 $ 1,795,178 $ 50,663,586 Liabilities: Annuity account balances (2) $ — $ — $ 92,512 $ 92,512 Other liabilities (1) 40,067 106,310 375,848 522,225 Total liabilities measured at fair value on a recurring basis $ 40,067 $ 106,310 $ 468,360 $ 614,737 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 1,418,255 $ 3 $ 1,418,258 Commercial mortgage-backed securities — 1,177,252 — 1,177,252 Other asset-backed securities — 275,415 563,961 839,376 U.S. government-related securities 1,165,188 263,707 — 1,428,895 State, municipalities, and political subdivisions — 1,684,014 3,675 1,687,689 Other government-related securities — 20,172 — 20,172 Corporate securities 132 26,039,963 1,325,683 27,365,778 Total fixed maturity securities - available-for-sale 1,165,320 30,878,778 1,893,322 33,937,420 Fixed maturity securities - trading Residential mortgage-backed securities — 288,114 — 288,114 Commercial mortgage-backed securities — 151,111 — 151,111 Other asset-backed securities — 105,118 169,461 274,579 U.S. government-related securities 245,563 4,898 — 250,461 State, municipalities, and political subdivisions — 325,446 — 325,446 Other government-related securities — 57,032 — 57,032 Corporate securities — 1,447,333 24,744 1,472,077 Total fixed maturity securities - trading 245,563 2,379,052 194,205 2,818,820 Total fixed maturity securities 1,410,883 33,257,830 2,087,527 36,756,240 Equity securities 590,832 99,267 66,691 756,790 Other long-term investments (1) 119,997 106,079 44,625 270,701 Short-term investments 243,436 3,281 — 246,717 Total investments 2,365,148 33,466,457 2,198,843 38,030,448 Cash 268,286 — — 268,286 Assets related to separate accounts Variable annuity 13,157,429 — — 13,157,429 Variable universal life 834,940 — — 834,940 Total assets measured at fair value on a recurring basis $ 16,625,803 $ 33,466,457 $ 2,198,843 $ 52,291,103 Liabilities: Annuity account balances (2) $ — $ — $ 97,825 $ 97,825 Other liabilities (1) 62,146 61,046 506,343 629,535 Total liabilities measured at fair value on a recurring basis $ 62,146 $ 61,046 $ 604,168 $ 727,360 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. Determination of Fair Values The valuation methodologies used to determine the fair values of assets and liabilities reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Company determines the fair values of certain financial assets and financial liabilities based on quoted market prices, where available. The Company also determines certain fair values based on future cash flows discounted at the appropriate current market rate. Fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity, and where appropriate, risk margins on unobservable parameters. The following is a discussion of the methodologies used to determine fair values for the financial instruments as listed in the above table. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a ‘‘waterfall’’ approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Third party pricing services price approximately 90% of the Company’s available-for-sale and trading fixed maturity securities. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which we purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party pricing service or an independent broker quotation. The pricing matrix used by the Company begins with current spread levels to determine the market price for the security. The credit spreads, assigned by brokers, incorporate the issuer’s credit rating, liquidity discounts, weighted- average of contracted cash flows, risk premium, if warranted, due to the issuer’s industry, and the security’s time to maturity. The Company uses credit ratings provided by nationally recognized rating agencies. For securities that are priced via non-binding independent broker quotations, the Company assesses whether prices received from independent brokers represent a reasonable estimate of fair value through an analysis using internal and external cash flow models developed based on spreads and, when available, market indices. The Company uses a market-based cash flow analysis to validate the reasonableness of prices received from independent brokers. These analytics, which are updated daily, incorporate various metrics (yield curves, credit spreads, prepayment rates, etc.) to determine the valuation of such holdings. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the analytics, the price received from the independent broker is adjusted accordingly. The Company did not adjust any quotes or prices received from brokers during the period of February 1, 2015 to December 31, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company). The Company has analyzed the third party pricing services’ valuation methodologies and related inputs and has also evaluated the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity and the observability of market inputs that is in accordance with the Fair Value Measurements and Disclosures Topic of the ASC. Based on this evaluation and investment class analysis, each price was classified into Level 1, 2, or 3. Most prices provided by third party pricing services are classified into Level 2 because the significant inputs used in pricing the securities are market observable and the observable inputs are corroborated by the Company. Since the matrix pricing of certain debt securities includes significant non-observable inputs, they are classified as Level 3. Asset-Backed Securities This category mainly consists of residential mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”). As of December 31, 2015 (Successor Company), the Company held $3.8 billion of ABS classified as Level 2. These securities are priced from information provided by a third party pricing service and independent broker quotes. The third party pricing services and brokers mainly value securities using both a market and income approach to valuation. As part of this valuation process they consider the following characteristics of the item being measured to be relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, and 7) credit ratings of the securities. After reviewing these characteristics of the ABS, the third party pricing service and brokers use certain inputs to determine the value of the security. For ABS classified as Level 2, the valuation would consist of predominantly market observable inputs such as, but not limited to: 1) monthly principal and interest payments on the underlying assets, 2) average life of the security, 3) prepayment speeds, 4) credit spreads, 5) treasury and swap yield curves, and 6) discount margin. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation. As of December 31, 2015 , the Company held $739.9 million of Level 3 ABS, which included $587.0 million of other asset-backed securities classified as available-for-sale and $152.9 million of other asset-backed securities classified as trading. These securities are predominantly ARS whose underlying collateral is at least 97% guaranteed by the FFELP. As a result of the ARS market collapse during 2008, the Company prices its ARS using an income approach valuation model. As part of the valuation process the Company reviews the following characteristics of the ARS in determining the relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, 7) credit ratings of the securities, 8) liquidity premium, and 9) paydown rate. Corporate Securities, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities As of December 31, 2015 (Successor Company), the Company classified approximately $28.7 billion of corporate securities, U.S. government-related securities, states, municipals, and political subdivisions, and other government-related securities as Level 2. The fair value of the Level 2 securities is predominantly priced by broker quotes and a third party pricing service. The Company has reviewed the valuation techniques of the brokers and third party pricing service and has determined that such techniques used Level 2 market observable inputs. The following characteristics of the securities are considered to be the primary relevant inputs to the valuation: 1) weighted- average coupon rate, 2) weighted-average years to maturity, 3) seniority, and 4) credit ratings. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation. The brokers and third party pricing service utilize valuation models that consist of a hybrid income and market approach to valuation. The pricing models utilize the following inputs: 1) principal and interest payments, 2) treasury yield curve, 3) credit spreads from new issue and secondary trading markets, 4) dealer quotes with adjustments for issues with early redemption features, 5) liquidity premiums present on private placements, and 6) discount margins from dealers in the new issue market. As of December 31, 2015 (Successor Company), the Company classified approximately $920.3 million of securities as Level 3 valuations. Level 3 securities primarily represent investments in illiquid bonds for which no price is readily available. To determine a price, the Company uses a discounted cash flow model with both observable and unobservable inputs. These inputs are entered into an industry standard pricing model to determine the final price of the security. These inputs include: 1) principal and interest payments, 2) coupon rate, 3) sector and issuer level spread over treasury, 4) underlying collateral, 5) credit ratings, 6) maturity, 7) embedded options, 8) recent new issuance, 9) comparative bond analysis, and 10) an illiquidity premium. Equities As of December 31, 2015 (Successor Company), the Company held approximately $79.6 million of equity securities classified as Level 2 and Level 3. Of this total, $65.7 million represents FHLB stock. The Company believes that the cost of the FHLB stock approximates fair value. Other Long-Term Investments and Other Liabilities Other long-term investments and other liabilities consist entirely of free-standing and embedded derivative financial instruments. Refer to Note 23, Derivative Financial Instruments for additional information related to derivatives. Derivative financial instruments are valued using exchange prices, independent broker quotations, or pricing valuation models, which utilize market data inputs. Excluding embedded derivatives, as of December 31, 2015 (Successor Company), 82% of derivatives based upon notional values were priced using exchange prices or independent broker quotations. The remaining derivatives were priced by pricing valuation models, which predominantly utilize observable market data inputs. Inputs used to value derivatives include, but are not limited to, interest swap rates, credit spreads, interest rate and equity market volatility indices, equity index levels, and treasury rates. The Company performs monthly analysis on derivative valuations that includes both quantitative and qualitative analyses. Derivative instruments classified as Level 1 generally include futures and options, which are traded on active exchange markets. Derivative instruments classified as Level 2 primarily include interest rate and inflation swaps, options, and swaptions. These derivative valuations are determined using independent broker quotations, which are corroborated with observable market inputs. Derivative instruments classified as Level 3 were embedded derivatives and include at least one significant non-observable input. A derivative instrument containing Level 1 and Level 2 inputs will be classified as a Level 3 financial instrument in its entirety if it has at least one significant Level 3 input. The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the changes in fair value on derivatives reported in Level 3 may not reflect the offsetting impact of the changes in fair value of the associated assets and liabilities. The embedded derivatives are carried at fair value in "other long-term investments" and "other liabilities" on the Company's consolidated balance sheet. The changes in fair value are recorded in earnings as "Realized investment gains (losses)—Derivative financial instruments". Refer to Note 23, Derivative Financial Instruments for more information related to each embedded derivatives gains and losses. The fair value of the GMWB embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using multiple risk neutral stochastic equity scenarios and policyholder behavior assumptions. The risk neutral scenarios are generated using the current swap curve and projected equity volatilities and correlations. The projected equity volatilities are based on a blend of historical volatility and near- term equity market implied volatilities. The equity correlations are based on historical price observations. For policyholder behavior assumptions, expected lapse and utilization assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table with company experience, with attained age factors varying from 44.5% - 100% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR plus a credit spread (to represent the Company’s non-performance risk). As a result of using significant unobservable inputs, the GMWB embedded derivative is categorized as Level 3. These assumptions are reviewed on a quarterly basis. The balance of the FIA embedded derivative is impacted by policyholder cash flows associated with the FIA product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the FIA embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the 1994 Variable Annuity MGDB Mortality Table modified with company experience, with attained age factors varying from 49% - 80% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the FIA embedded derivative is categorized as Level 3. The balance of the indexed universal life (“IUL”) embedded derivative is impacted by policyholder cash flows associated with the IUL product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the IUL embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the SOA 2015 VBT Primary Tables modified with company experience, with attained age factors varying from 38% - 153% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the IUL embedded derivative is categorized as Level 3. The Company has assumed and ceded certain blocks of policies under modified coinsurance agreements in which the investment results of the underlying portfolios inure directly to the reinsurers. As a result, these agreements contain embedded derivatives that are reported at fair value. Changes in their fair value are reported in earnings. The investments supporting these agreements are designated as "trading securities"; therefore changes in their fair value are also reported in earnings. As of December 31, 2015 (Successor Company), the fair value of the embedded derivative is based upon the relationship between the statutory policy liabilities (net of policy loans) of $2.5 billion and the statutory unrealized gain (loss) of the securities of $184.1 million . As a result, changes in the fair value of the embedded derivatives are largely offset by the changes in fair value of the related investments and each are reported in earnings. The fair value of the embedded derivative is considered a Level 3 valuation due to the unobservable nature of the policy liabilities. Certain of the Company’s subsidiaries have entered into interest support, a yearly renewable term (“YRT”) premium support, and portfolio maintenance agreements with PLC. These agreements meet the definition of a derivative and are accounted for at fair value and are considered Level 3 valuations. The fair value of these derivatives as of December 31, 2015 (Successor Company), was $18.2 million and is included in Other long-term investments . For information regarding realized gains on these derivatives please refer to Note 23, Derivative Financial Instruments . The Interest Support Agreement provides that PLC will make payments to Golden Gate II if actual investment income on certain of Golden Gate II’s asset portfolios falls below a calculated investment income amount as defined in the Interest Support Agreement. The calculated investment income amount is a level of investment income deemed to be sufficient to support certain of Golden Gate II’s obligations under a reinsurance agreement with the Company, dated July 1, 2007. The derivative is valued using an internal valuation model that assumes a conservative projection of investment income under an adverse interest rate scenario and the probability that the expectation falls below the calculated investment income amount. This derivative had a fair value of $15.8 million as of December 31, 2015 (Successor Company), however, interest support agreement obligations to Golden Gate II of approximately $1.9 million have been collateralized by PLC. Re-evaluation, if necessary, adjustments of any support agreement collateralization amounts occur annually during the first quarter pursuant to the terms of the support agreement. As of December 31, 2015 (Successor Company), no payments have been triggered under this agreement. The YRT Premium support agreement provides that PLC will make payments to Golden Gate II in the event that YRT premium rates increase. The derivative is valued using an internal valuation model. The valuation model is a probability weighted discounted cash flow model. The value is primarily a function of the likelihood and severity of future YRT premium increases. The fair value of this derivative as of December 31, 2015 (Successor Company), was $2.3 million . As of December 31, 2015 (Successor Company), no payments have been triggered under this agreement. The portfolio maintenance agreements provide that PLC will make payments to Golden Gate V and WCL in the event of other-than-temporary impairments on investments that exceed defined thresholds. The derivatives are valued using an internal discounted cash flow model. The significant unobservable inputs are the projected probability and severity of credit losses used to project future cash flows on the investment portfolios. The fair value of the portfolio maintenance agreements as of December 31, 2015 (Successor Company), was zero . As of December 31, 2015 (Successor Company), no payments have been triggered under this agreement. The Funds Withheld derivative results from a reinsurance agreement with Shades Creek where the economic performance of certain hedging instruments held by the Company is ceded to Shades Creek. The value of the Funds Withheld derivative is directly tied to the value of the hedging instruments held in the funds withheld account. The hedging instruments predominantly consist of derivative instruments the fair values of which are classified as a Level 2 measurement; as such, the fair value of the Funds Withheld derivative has been classified as a Level 2 measurement. The fair value of the Funds Withheld derivative as of December 31, 2015 (Successor Company), was a liability of $102.4 million . Annuity Account Balances The Company records certain of its FIA reserves at fair value. The fair value is considered a Level 3 valuation. The FIA valuation model calculates the present value of future benefit cash flows less the projected future profits to quantify the net liability that is held as a reserve. This calculation is done using multiple risk neutral stochastic equity scenarios. The cash flows are discounted using LIBOR plus a credit spread. Best estimate assumptions are used for partial withdrawals, lapses, expenses and asset earned rate with a risk margin applied to each. These assumptions are reviewed at least annually as a part of the formal unlocking process. If an event were to occur within a quarter that would make the assumptions unreasonable, the assumptions would be reviewed within the quarter. The discount rate for the fixed indexed annuities is based on an upward sloping rate curve which is updated each quarter. The discount rates for December 31, 2015 (Successor Company), ranged from a one month rate of 0.61% , a 5 year rate of 2.43% , and a 30 year rate of 3.66% . A credit spread component is also included in the calculation to accommodate non-performance risk. Separate Accounts Separate account assets are invested in open-ended mutual funds and are included in Level 1. Valuation of Level 3 Financial Instruments The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Successor Company Fair Value As of December 31, 2015 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 587,031 Discounted cash flow Liquidity premium 0.27% - 1.49% (0.42%) Paydown rate 10.20% - 14.72% (13.11%) Corporate securities 875,810 Discounted cash flow Spread over treasury 0.10% - 19.00% (2.61%) Liabilities: Embedded derivatives—GMWB (1) $ 18,511 Actuarial cash flow model Mortality 1994 MGDB table with company experience Lapse 0.3% - 15%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.18% - 1.04% Annuity account balances (2) 92,512 Actuarial cash flow model Asset earned rate 4.53% - 5.67% Expenses $81 per policy Withdrawal rate 2.20% Mortality 1994 MGDB table with company experience Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.18% - 1.04% Embedded derivative—FIA 100,329 Actuarial cash flow model Expenses $81.50 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 1994 MGDB table with company experience Lapse 2.5% - 40.0%, depending on duration/surrender charge period Nonperformance risk 0.18% - 1.04% Embedded derivative—IUL 29,629 Actuarial cash flow model Mortality 38% - 153% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.18% - 1.04% (1) The fair value for the GMWB embedded derivative is presented as a net liability. Excludes modified coinsurance agreements. (2) Represents liabilities related to fixed indexed annuities. The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value. The Company has considered all reasonably available quantitative inputs as of December 31, 2015 (Successor Company), but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $197.5 million of financial instruments being classified as Level 3 as of December 31, 2015 (Successor Company). Of the $197.5 million , $152.9 million are other asset-backed securities and $44.6 million ar

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Types of Derivative Instruments and Derivative Strategies The Company utilizes a risk management strategy that incorporates the use of derivative financial instruments to reduce exposure to certain risks, including but not limited to, interest rate risk, inflation risk, currency exchange risk, volatility risk, and equity market risk. These strategies are developed through the Company's analysis of data from financial simulation models and other internal and industry sources, and are then incorporated into the Company's risk management program. Derivative instruments expose the Company to credit and market risk and could result in material changes from period to period. The Company attempts to minimize its credit risk by entering into transactions with highly rated counterparties. The Company manages the market risk by establishing and monitoring limits as to the types and degrees of risk that may be undertaken. The Company monitors its use of derivatives in connection with its overall asset/liability management programs and risk management strategies. In addition, all derivative programs are monitored by our risk management department. Derivatives Related to Interest Rate Risk Management Derivative instruments that are used as part of the Company's interest rate risk management strategy include interest rate swaps, interest rate futures, interest rate caps, and interest rate swaptions. The Company's inflation risk management strategy involves the use of swaps that requires the Company to pay a fixed rate and receive a floating rate that is based on changes in the Consumer Price Index ("CPI"). Derivatives Related to Risk Mitigation of Certain Annuity Contracts The Company may use the following types of derivative contracts to mitigate its exposure to certain guaranteed benefits related to VA contracts and fixed indexed annuities: • Foreign Currency Futures • Variance Swaps • Interest Rate Futures • Equity Options • Equity Futures • Credit Derivatives • Interest Rate Swaps • Interest Rate Swaptions • Volatility Futures • Volatility Options • Funds Withheld Agreement • Total Return Swaps Other Derivatives The Company and certain of its subsidiaries have derivatives with PLC. These derivatives consist of an interest support agreement, a YRT premium support agreement, and portfolio maintenance agreements with PLC. The Company has a funds withheld account that consists of various derivative instruments held by us that is used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument. Accounting for Derivative Instruments The Company records its derivative financial instruments in the consolidated balance sheet in "other long-term investments" and "other liabilities" in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in other comprehensive income (loss), depending upon whether it qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For a derivative financial instrument to be accounted for as an accounting hedge, it must be identified and documented as such on the date of designation. For cash flow hedges, the effective portion of their realized gain or loss is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain attributable to the hedged risk of the hedged item is recognized in current earnings. Effectiveness of the Company's hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship through earnings in the period of change. Changes in the fair value of derivatives that are recognized in current earnings are reported in "Realized investment gains (losses)—Derivative financial instruments". Derivative Instruments Designated and Qualifying as Hedging Instruments Cash-Flow Hedges • In connection with the issuance of inflation-adjusted funding agreements, the Company has entered into swaps to essentially convert the floating CPI-linked interest rate on these agreements to a fixed rate. The Company pays a fixed rate on the swap and receives a floating rate primarily determined by the period’s change in the CPI. The amounts that are received on the swaps are almost equal to the amounts that are paid on the agreements. None of these positions were held as of December 31, 2015 (Successor Company), as these funding agreements and correlating swaps matured in June 2015. Derivative Instruments Not Designated and Not Qualifying as Hedging Instruments The Company uses various other derivative instruments for risk management purposes that do not qualify for hedge accounting treatment. Changes in the fair value of these derivatives are recognized in earnings during the period of change. Derivatives Related to Variable Annuity Contracts • The Company uses equity, interest rate, currency, and volatility futures to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity and interest rate markets, foreign currency levels, and overall volatility. • The Company uses equity options, variance swaps, and volatility options to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity markets and overall volatility. • The Company uses interest rate swaps and interest rate swaptions to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. • The Company markets certain VA products with a GMWB rider. The GMWB component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. • The Company has a funds withheld account that consists of various derivative instruments held by the Company that are used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument. Derivatives Related to Fixed Annuity Contracts • The Company uses equity, futures, and options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity and overall volatility. • The Company uses equity options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity markets. • The Company markets certain fixed indexed annuity products. The FIA component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Derivatives Related to Indexed Universal Life Contracts • The Company uses equity, futures, and options to mitigate the risk within its indexed universal life products. In general, the cost of such benefits varies with the level of equity markets. • The Company markets certain IUL products. The IUL component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Other Derivatives • The Company uses certain interest rate swaps to mitigate the price volatility of fixed maturities. None of these positions were held as of December 31, 2015 (Successor Company). • The Company and certain of its subsidiaries have an interest support agreement, YRT premium support agreement, and two portfolio maintenance agreements with PLC. • The Company uses various swaps and other types of derivatives to manage risk related to other exposures. • The Company is involved in various modified coinsurance which contain embedded derivatives. Changes in their fair value are recorded in current period earnings. The investment portfolios that support the related modified coinsurance reserves had fair value changes which substantially offset the gains or losses on these embedded derivatives. The following table sets forth realized investments gains and losses for the periods shown: Realized investment gains (losses) - derivative financial instruments Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Derivatives related to variable annuity contracts: Interest rate futures - VA $ (14,818 ) $ 1,413 $ 27,801 $ (31,216 ) Equity futures - VA (5,033 ) 9,221 (26,104 ) (52,640 ) Currency futures - VA 7,169 7,778 14,433 (469 ) Variance swaps - VA — — (744 ) (11,310 ) Equity options - VA (27,733 ) 3,047 (41,216 ) (95,022 ) Volatility options - VA — — — (115 ) Interest rate swaptions - VA (13,354 ) 9,268 (22,280 ) 1,575 Interest rate swaps - VA (85,942 ) 122,710 214,164 (157,408 ) Embedded derivative - GMWB 6,512 (68,503 ) (119,844 ) 162,737 Funds withheld derivative 30,117 (9,073 ) 47,792 71,862 Total derivatives related to VA contracts (103,082 ) 75,861 94,002 (112,006 ) Derivatives related to FIA contracts: Embedded derivative - FIA (738 ) 1,769 (16,932 ) (942 ) Equity futures - FIA (355 ) (184 ) 870 173 Volatility futures - FIA 5 — 20 (5 ) Equity options - FIA 1,211 (2,617 ) 9,906 1,866 Total derivatives related to FIA contracts 123 (1,032 ) (6,136 ) 1,092 Derivatives related to IUL contracts: Embedded derivative - IUL (614 ) (486 ) (8 ) — Equity futures - IUL 144 3 15 — Equity options - IUL (540 ) (115 ) 150 — Total derivatives related to IUL contracts (1,010 ) (598 ) 157 — Embedded derivative - Modco reinsurance treaties 166,092 (68,026 ) (105,276 ) 205,176 Interest rate swaps — — — 2,985 Derivatives with PLC (1) (3,778 ) 15,863 4,085 (15,072 ) Other derivatives 91 (37 ) (324 ) (14 ) Total realized gains (losses) - derivatives $ 58,436 $ 22,031 $ (13,492 ) $ 82,161 (1)These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC. The following table sets forth realized investments gains and losses for the Modco trading portfolio that is included in realized investment gains (losses) — all other investments: Realized investment gains (losses) - all other investments Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Modco trading portfolio (1) $ (167,359 ) $ 73,062 $ 142,016 $ (178,134 ) (1)The Company elected to include the use of alternate disclosures for trading activities. The following tables present the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship: Gain (Loss) on Derivatives in Cash Flow Relationship Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Effective Portion) (Ineffective Portion) Benefits and settlement expenses Realized investment gains (losses) (Effective Portion) (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Inflation $ (131 ) $ (131 ) $ 73 Total $ (131 ) $ (131 ) $ 73 Predecessor Company January 1, 2015 to January 31, 2015 Inflation $ 13 $ (36 ) $ (7 ) Total $ 13 $ (36 ) $ (7 ) Predecessor Company For The Year Ended December 31, 2014 Inflation $ (4 ) $ (1,777 ) $ (223 ) Total $ (4 ) $ (1,777 ) $ (223 ) Predecessor Company For The Year Ended December 31, 2013 Inflation $ 1,130 $ (2,349 ) $ (190 ) Total $ 1,130 $ (2,349 ) $ (190 ) The table below presents information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated financial statements for the periods presented below: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Derivatives not designated as hedging instruments: Interest rate swaps $ 1,435,000 $ 66,408 $ 1,550,000 $ 50,743 Derivatives with PLC (1) 1,619,200 18,161 1,497,010 6,077 Embedded derivative - Modco reinsurance treaties 64,593 1,215 25,760 1,051 Embedded derivative - GMWB 1,723,081 49,007 1,302,895 37,497 Interest rate futures 282,373 1,537 27,977 938 Equity futures 262,485 1,275 26,483 427 Currency futures 226,936 2,499 197,648 2,384 Equity options 2,198,340 179,458 1,921,167 163,212 Interest rate swaptions 225,000 3,663 625,000 8,012 Other 242 347 242 360 $ 8,037,250 $ 323,570 $ 7,174,182 $ 270,701 Other liabilities Cash flow hedges: Inflation $ — $ — $ 40,469 $ 142 Derivatives not designated as hedging instruments: Interest rate swaps 475,000 16,579 275,000 3,599 Embedded derivative - Modco reinsurance treaties 2,473,427 178,362 2,562,848 311,727 Funds withheld derivative 1,149,664 102,378 1,233,424 57,305 Embedded derivative - GMWB 1,834,308 67,528 1,702,899 63,460 Embedded derivative - FIA 1,110,790 100,329 749,933 124,465 Embedded derivative - IUL 57,760 29,629 12,019 6,691 Interest rate futures 793,763 1,539 — — Equity futures 233,412 2,599 385,256 15,069 Currency futures 46,692 1,115 — — Equity options 1,205,204 22,167 699,295 47,077 $ 9,380,020 $ 522,225 $ 7,661,143 $ 629,535 (1)These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC. The Company reclassified the remaining balance of its cash flow hedge derivative financial instruments out of accumulated other comprehensive income (loss) into earnings during the period of February 1, 2015 to December 31, 2015 (Successor Company) as these derivative financial instruments matured in June of 2015.

OFFSETTING OF ASSETS AND LIABIL

OFFSETTING OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2015
Offsetting [Abstract]
OFFSETTING OF ASSETS AND LIABILITIES	OFFSETTING OF ASSETS AND LIABILITIES Certain of the Company’s derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. Additionally, certain of the Company’s repurchase agreements provide for net settlement on termination of the agreement. Refer to Note 12, Debt and Other Obligations for details of the Company’s repurchase agreement programs. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2015 (Successor Company): Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 254,840 $ — $ 254,840 $ 42,382 $ 105,842 $ 106,616 Total derivatives, subject to a master netting arrangement or similar arrangement 254,840 — 254,840 42,382 105,842 106,616 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,215 — 1,215 — — 1,215 Embedded derivative - GMWB 49,007 — 49,007 — — 49,007 Derivatives with PLC 18,161 — 18,161 — — 18,161 Other 347 — 347 — — 347 Total derivatives, not subject to a master netting arrangement or similar arrangement 68,730 — 68,730 — — 68,730 Total derivatives 323,570 — 323,570 42,382 105,842 175,346 Total Assets $ 323,570 $ — $ 323,570 $ 42,382 $ 105,842 $ 175,346 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Financial Instruments Cash Collateral Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 43,999 $ — $ 43,999 $ 42,382 $ 1,617 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 43,999 — 43,999 42,382 1,617 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 178,362 — 178,362 — — 178,362 Funds withheld derivative 102,378 — 102,378 — — 102,378 Embedded derivative - GMWB 67,528 — 67,528 — — 67,528 Embedded derivative - FIA 100,329 — 100,329 — — 100,329 Embedded derivative - IUL 29,629 — 29,629 — — 29,629 Total derivatives, not subject to a master netting arrangement or similar arrangement 478,226 — 478,226 — — 478,226 Total derivatives 522,225 — 522,225 42,382 1,617 478,226 Repurchase agreements (1) 438,185 — 438,185 — — 438,185 Total Liabilities $ 960,410 $ — $ 960,410 $ 42,382 $ 1,617 $ 916,411 (1) Borrowings under repurchase agreements are for a term less than 90 days. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company). Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Cash Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 225,716 $ — $ 225,716 $ 53,612 $ 73,935 $ 98,169 Total derivatives, subject to a master netting arrangement or similar arrangement 225,716 — 225,716 53,612 73,935 98,169 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,051 — 1,051 — — 1,051 Embedded derivative - GMWB 37,497 — 37,497 — — 37,497 Derivatives with PLC 6,077 — 6,077 — — 6,077 Other 360 — 360 — — 360 Total derivatives, not subject to a master netting arrangement or similar arrangement 44,985 — 44,985 — — 44,985 Total derivatives 270,701 — 270,701 53,612 73,935 143,154 Total Assets $ 270,701 $ — $ 270,701 $ 53,612 $ 73,935 $ 143,154 Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Cash Collateral Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 65,887 $ — $ 65,887 $ 53,612 $ 12,258 $ 17 Total derivatives, subject to a master netting arrangement or similar arrangement 65,887 — 65,887 53,612 12,258 17 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 311,727 — 311,727 — — 311,727 Funds withheld derivative 57,305 — 57,305 — — 57,305 Embedded derivative - GMWB 63,460 — 63,460 — — 63,460 Embedded derivative - FIA 124,465 — 124,465 — — 124,465 Embedded derivative - IUL 6,691 — 6,691 — — 6,691 Total derivatives, not subject to a master netting arrangement or similar arrangement 563,648 — 563,648 — — 563,648 Total derivatives 629,535 — 629,535 53,612 12,258 563,665 Repurchase agreements (1) 50,000 — 50,000 — — 50,000 Total Liabilities $ 679,535 $ — $ 679,535 $ 53,612 $ 12,258 $ 613,665 (1) Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
OPERATING SEGMENTS	OPERATING SEGMENTS The Company has several operating segments each having a strategic focus. An operating segment is distinguished by products, channels of distribution, and/or other strategic distinctions. The Company periodically evaluates its operating segments, as prescribed in the ASC Segment Reporting Topic, and makes adjustments to its segment reporting as needed. There were no changes to the Company's operating segments made or required to be made as a result of the Merger on February 1, 2015. A brief description of each segment follows. • The Life Marketing segment markets fixed UL, IUL, VUL, BOLI, and level premium term insurance (“traditional”) products on a national basis primarily through networks of independent insurance agents and brokers, broker-dealers, financial institutions, and independent marketing organizations. • The Acquisitions segment focuses on acquiring, converting, and servicing policies acquired from other companies. The segment's primary focus is on life insurance policies and annuity products that were sold to individuals. The level of the segment's acquisition activity is predicated upon many factors, including available capital, operating capacity, potential return on capital, and market dynamics. Policies acquired through the Acquisitions segment are typically blocks of business where no new policies are being marketed. Therefore earnings and account values are expected to decline as the result of lapses, deaths, and other terminations of coverage unless new acquisitions are made. • The Annuities segment markets fixed and variable annuity products. These products are primarily sold through broker-dealers, financial institutions, and independent agents and brokers. • The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the FHLB, and markets GICs to 401(k) and other qualified retirement savings plans. The Company recently terminated its funding agreement-backed notes program registered with the SEC and, on October 2, 2015, established an unregistered funding agreement-backed notes program. • The Asset Protection segment markets extended service contracts and credit life and disability insurance to protect consumers' investments in automobiles and recreational vehicles. In addition, the segment markets a guaranteed asset protection ("GAP") product. GAP coverage covers the difference between the loan pay-off amount and an asset's actual cash value in the case of a total loss. • The Corporate and Other segment primarily consists of net investment income on assets supporting our equity capital, unallocated overhead, and expenses not attributable to the segments above. This segment includes earnings from several non-strategic or runoff lines of business, various investment-related transactions, the operations of several small subsidiaries, and the repurchase of non-recourse funding obligations. The Company uses the same accounting policies and procedures to measure segment operating income (loss) and assets as it uses to measure consolidated net income and assets. Segment operating income (loss) is income before income tax, excluding realized gains and losses on investments and derivatives net of the amortization related to DAC, VOBA, and benefits and settlement expenses. Operating earnings exclude changes in the GMWB embedded derivatives (excluding the portion attributed to economic cost), actual GMWB incurred claims and the related amortization of DAC/VOBA attributed to each of these items. Segment operating income (loss) represents the basis on which the performance of the Company's business is internally assessed by management. Premiums and policy fees, other income, benefits and settlement expenses, and amortization of DAC/VOBA are attributed directly to each operating segment. Net investment income is allocated based on directly related assets required for transacting the business of that segment. Realized investment gains (losses) and other operating expenses are allocated to the segments in a manner that most appropriately reflects the operations of that segment. Investments and other assets are allocated based on statutory policy liabilities net of associated statutory policy assets, while DAC/VOBA and goodwill are shown in the segments to which they are attributable. The goodwill as of December 31, 2015 (Successor Company), was the result of the Dai-ichi Merger. The purchase price was allocated to the segments in proportion to the segment's respective fair value. The allocated purchase price in excess of the fair value of assets and liabilities of each segment resulted in the establishment of that segment's goodwill as of the date of the Merger. There were no significant intersegment transactions during the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company). The following tables summarize financial information for the Company’s segments (Predecessor and Successor period are not comparable): Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Revenues Life Marketing $ 1,316,832 $ 133,361 $ 1,421,795 $ 1,324,409 Acquisitions 1,333,430 139,761 1,720,179 1,186,579 Annuities 396,651 130,918 785,176 569,004 Stable Value Products 79,670 8,181 127,708 122,974 Asset Protection 294,657 24,566 305,396 296,782 Corporate and Other 65,802 22,859 103,953 104,922 Total revenues $ 3,487,042 $ 459,646 $ 4,464,207 $ 3,604,670 Segment Operating Income (Loss) Life Marketing $ 54,864 $ (2,271 ) $ 116,875 $ 106,812 Acquisitions 194,654 20,134 254,021 154,003 Annuities 146,828 11,363 204,015 166,278 Stable Value Products 56,581 4,529 73,354 80,561 Asset Protection 17,632 1,907 26,274 20,148 Corporate and Other (118,832 ) (16,662 ) (99,048 ) (74,620 ) Total segment operating income 351,727 19,000 575,491 453,182 Realized investment (losses) gains - investments (1)(3) (185,202 ) 89,414 151,035 (140,236 ) Realized investment (losses) gains - derivatives (2) 87,663 24,433 12,263 109,553 Income tax expense (74,491 ) (44,325 ) (246,838 ) (130,897 ) Net income $ 179,697 $ 88,522 $ 491,951 $ 291,602 (1) Investment gains (losses) $ (193,928 ) $ 80,672 $ 198,027 $ (143,984 ) Less: amortization related to DAC/VOBA and benefits and settlement expenses (8,726 ) (8,742 ) 46,992 (3,748 ) Realized investment gains (losses)- investments $ (185,202 ) $ 89,414 $ 151,035 $ (140,236 ) (2) Derivative gains (losses) $ 58,436 $ 22,031 $ (13,492 ) $ 82,161 Less: VA GMWB economic cost (29,227 ) (2,402 ) (25,755 ) (27,392 ) Realized investment gains (losses)- derivatives $ 87,663 $ 24,433 $ 12,263 $ 109,553 Net investment income Life Marketing $ 446,518 $ 47,622 $ 553,006 $ 521,219 Acquisitions 639,422 71,088 874,653 617,298 Annuities 296,839 37,189 465,849 468,329 Stable Value Products 78,459 6,888 107,170 123,798 Asset Protection 14,042 1,540 18,830 19,046 Corporate and Other 57,516 278 78,505 86,498 Total net investment income $ 1,532,796 $ 164,605 $ 2,098,013 $ 1,836,188 Amortization of DAC and VOBA Life Marketing $ 107,811 $ 4,813 $ 175,807 $ 25,774 Acquisitions 2,035 5,033 60,031 72,762 Annuities (41,071 ) (6,999 ) 47,448 31,498 Stable Value Products 43 25 380 398 Asset Protection 26,219 1,858 24,169 23,603 Corporate and Other 27 87 485 625 Total amortization of DAC and VOBA $ 95,064 $ 4,817 $ 308,320 $ 154,660 (3) Includes credit related other-than-temporary impairments of $27.0 million , $0.5 million , $7.3 million , and $22.4 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. Successor Company Operating Segment Assets As of December 31, 2015 (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 13,258,639 $ 19,879,988 $ 19,715,901 $ 2,006,263 Deferred policy acquisition costs and value of business acquired 1,119,515 (178,662 ) 578,742 2,357 Other intangibles 319,623 39,658 196,780 9,389 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 14,898,051 $ 19,755,508 $ 20,828,100 $ 2,131,822 Asset Protection Corporate and Other Adjustments Total Consolidated Investments and other assets $ 766,294 $ 9,464,906 $ — $ 65,091,991 Deferred policy acquisition costs and value of business acquired 40,421 — — 1,562,373 Other intangibles 79,681 — — 645,131 Goodwill 67,155 — — 732,443 Total assets $ 953,551 $ 9,464,906 $ — $ 68,031,938 Predecessor Company Operating Segment Assets As of December 31, 2014 (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 13,858,491 $ 19,858,284 $ 20,678,948 $ 1,958,867 Deferred policy acquisition costs and value of business acquired 1,973,156 600,482 539,965 621 Goodwill — 29,419 — — Total assets $ 15,831,647 $ 20,488,185 $ 21,218,913 $ 1,959,488 Asset Protection Corporate and Other Adjustments Total Consolidated Investments and other assets $ 832,887 $ 9,572,018 $ — $ 66,759,495 Deferred policy acquisition costs and value of business acquired 40,503 319 — 3,155,046 Goodwill 48,158 — — 77,577 Total assets $ 921,548 $ 9,572,337 $ — $ 69,992,118

CONSOLIDATED QUARTERLY RESULTS

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
CONSOLIDATED QUARTERLY RESULTS — UNAUDITED	CONSOLIDATED QUARTERLY RESULTS — UNAUDITED The Company's unaudited consolidated quarterly operating data for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the year ended December 31, 2014 (Predecessor Company) is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management's opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowner's equity, and cash flows for a period of several quarters. First Quarter (1) Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Premiums and policy fees $ 506,386 $ 828,058 $ 793,572 $ 864,806 Reinsurance ceded (146,813 ) (351,196 ) (312,256 ) (364,606 ) Net of reinsurance ceded 359,573 476,862 481,316 500,200 Net investment income 272,211 408,147 413,544 438,894 Realized investment gains (losses) (40,004 ) (97,515 ) 37,140 (35,113 ) Other income 49,181 75,459 74,671 72,476 Total revenues 640,961 862,953 1,006,671 976,457 Total benefits and expenses 616,425 898,520 850,550 867,359 Income before income tax 24,536 (35,567 ) 156,121 109,098 Income tax expense 8,116 (9,991 ) 42,542 33,824 Net income $ 16,420 $ (25,576 ) $ 113,579 $ 75,274 (1) First quarter includes February 1, 2015 to March 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2014 Premiums and policy fees $ 812,323 $ 848,183 $ 755,300 $ 867,263 Reinsurance ceded (333,506 ) (348,255 ) (283,104 ) (430,878 ) Net of reinsurance ceded 478,817 499,928 472,196 436,385 Net investment income 514,037 525,576 532,861 525,539 Realized investment gains (losses) 30,981 42,386 39,299 71,869 Other income 65,514 71,296 72,404 85,119 Total revenues 1,089,349 1,139,186 1,116,760 1,118,912 Total benefits and expenses 937,738 966,571 932,640 888,469 Income before income tax 151,611 172,615 184,120 230,443 Income tax expense 49,062 56,572 62,287 78,917 Net income $ 102,549 $ 116,043 $ 121,833 $ 151,526 January 1, 2015 Predecessor Company (Dollars In Thousands) Premiums and policy fees $ 260,582 Reinsurance ceded (91,632 ) Net of reinsurance ceded 168,950 Net investment income 164,605 Realized investment gains (losses) 102,703 Other income 23,388 Total revenues 459,646 Total benefits and expenses 326,799 Income before income tax 132,847 Income tax expense 44,325 Net income $ 88,522

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 15, 2016, the Company completed the transaction contemplated by the Master Agreement with GLAIC. Pursuant to the Master Agreement, on January 15, 2016, the Company entered into a reinsurance agreement (the “Reinsurance Agreement”) under the terms of which the Company coinsures certain term life insurance business of GLAIC (the “GLAIC Block”). In connection with the reinsurance transaction, on January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a wholly owned subsidiary of the Company, and Steel City, LLC (“Steel City”), a newly formed wholly owned subsidiary of PLC, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by the Company and West Coast Life Insurance Company ("WCL"), a direct wholly owned subsidiary. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLC, WCL and the Company, meaning that none of these companies are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. In connection with the transaction, PLC entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. The estimated average annual expense of the credit enhancement under generally accepted accounting principles is approximately $3.1 million , after-tax. As a result of the financing transaction described above, the $800 million of Golden Gate Series A Surplus Notes held by PLC were contributed to the Company and then subsequently contributed to Golden Gate, which resulted in the extinguishment of these notes. Also on January 15, 2016, Golden Gate paid an extraordinary dividend of $300 million to the Company as approved by the Vermont Department of Financial Regulation. The Company has evaluated the effects of events subsequent to December 31, 2015 (Successor Company), and through the date we filed our consolidated financial statements with the United States Securities and Exchange Commission. All accounting and disclosure requirements related to subsequent events are included in our consolidated financial statements.

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2015
Supplementary Insurance Information [Abstract]
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES Segment Deferred Policy Acquisition Costs and Value of Businesses Acquired Future Policy Benefits and Claims Unearned Premiums Stable Value Products, Annuity Contracts and Other Policyholders’ Funds Net Premiums and Policy Fees Net Investment Income (1) Benefits and Settlement Expenses Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired Other Operating Expenses (1) Premiums Written (2) (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Life Marketing $ 1,119,515 $ 13,869,102 $ 134 $ 371,618 $ 882,171 $ 446,518 $ 1,109,840 $ 107,811 $ 58,609 $ 148 Acquisitions (178,662 ) 14,508,877 3,082 4,254,579 690,741 639,422 1,067,482 2,035 89,960 32,134 Annuities 578,742 1,196,131 — 7,090,171 62,583 296,839 224,934 (41,071 ) 123,585 — Stable Value Products 2,357 — — 2,131,822 — 78,459 19,348 43 2,620 — Asset Protection 40,421 60,585 647,186 — 168,780 14,042 99,216 26,219 151,590 161,869 Corporate and Other — 68,495 803 73,066 13,676 57,516 14,568 27 176,038 13,583 Total $ 1,562,373 $ 29,703,190 $ 651,205 $ 13,921,256 $ 1,817,951 $ 1,532,796 $ 2,535,388 $ 95,064 $ 602,402 $ 207,734 Predecessor Company For The Year Ended December 31, 2014 Life Marketing $ 1,973,156 $ 14,077,360 $ 772,880 $ 349,698 $ 854,186 $ 553,006 $ 1,075,386 $ 175,807 $ 47,688 $ 151 Acquisitions 600,482 14,740,562 3,473 4,770,181 772,020 874,653 1,247,836 60,031 122,349 35,857 Annuities 539,965 1,015,928 120,850 7,190,908 75,446 465,849 314,488 47,448 115,643 — Stable Value Products 621 — — 1,959,488 — 107,170 35,559 380 1,413 — Asset Protection 40,503 46,963 616,908 — 169,212 18,830 93,193 24,169 161,760 160,948 Corporate and Other 319 63,664 890 70,267 16,462 78,505 20,001 485 181,782 16,388 Total $ 3,155,046 $ 29,944,477 $ 1,515,001 $ 14,340,542 $ 1,887,326 $ 2,098,013 $ 2,786,463 $ 308,320 $ 630,635 $ 213,344 For The Year Ended December 31, 2013 Life Marketing $ 2,071,470 $ 13,504,869 $ 812,929 $ 311,290 $ 796,109 $ 521,219 $ 1,143,132 $ 25,774 $ 46,263 $ 173 Acquisitions 799,255 15,112,574 4,680 4,734,487 519,477 617,298 851,386 72,762 78,244 24,781 Annuities 554,974 1,037,348 102,734 7,228,119 80,343 468,329 318,173 31,498 110,266 — Stable Value Products 1,001 — — 2,559,552 — 123,798 41,793 398 1,805 — Asset Protection 49,276 49,362 578,755 1,556 165,807 19,046 97,174 23,603 155,857 157,629 Corporate and Other 646 67,805 1,296 64,181 18,149 86,498 22,330 625 161,088 18,141 Total $ 3,476,622 $ 29,771,958 $ 1,500,394 $ 14,899,185 $ 1,579,885 $ 1,836,188 $ 2,473,988 $ 154,660 $ 553,523 $ 200,724 (1) Allocations of Net Investment Income and Other Operating Expenses are based on a number of assumptions and estimates and results would change if different methods were applied. (2) Excludes Life Insurance SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES (continued) Segment Net Premiums and Policy Fees Net Investment Income (1) Benefits and Settlement Expenses Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired Other Operating Expenses (1) Premiums Written (2) (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Life Marketing $ 84,926 $ 47,622 $ 123,179 $ 4,813 $ 7,124 $ 12 Acquisitions 62,343 71,088 101,926 5,033 9,041 2,134 Annuities 6,355 37,189 30,047 (6,999 ) 9,333 — Stable Value Products — 6,888 2,255 25 79 — Asset Protection 13,983 1,540 7,447 1,858 13,354 13,330 Corporate and Other 1,343 278 1,721 87 16,476 1,345 Total $ 168,950 $ 164,605 $ 266,575 $ 4,817 $ 55,407 $ 16,821 (1) Allocations of Net Investment Income and Other Operating Expenses are based on a number of assumptions and estimates and results would change if different methods were applied. (2) Excludes Life Insurance

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2015
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
SCHEDULE IV - REINSURANCE	SCHEDULE IV - REINSURANCE PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES Successor Company Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) February 1, 2015 to December 31, 2015 Life insurance in-force $ 727,705,256 $ (368,142,294 ) $ 39,546,742 $ 399,109,704 9.9 % Premiums and policy fees: Life insurance $ 2,360,643 $ (1,058,706 ) $ 308,280 $ 1,610,217 (1) 19.1 % Accident/health insurance 70,243 (36,871 ) 18,252 51,624 35.4 Property and liability insurance 228,500 (79,294 ) 6,904 156,110 4.4 Total $ 2,659,386 $ (1,174,871 ) $ 333,436 $ 1,817,951 Predecessor Company Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) January 1, 2015 to January 31, 2015 (2) Premiums and policy fees: Life insurance $ 204,185 $ (80,657 ) $ 28,601 $ 152,129 (1) 18.8 % Accident/health insurance 6,846 (4,621 ) 1,809 4,034 44.8 Property and liability insurance 18,475 (6,354 ) 666 12,787 5.2 Total $ 229,506 $ (91,632 ) $ 31,076 $ 168,950 For The Year Ended December 31, 2014: Life insurance in-force $ 721,036,332 $ (388,890,060 ) $ 43,237,358 $ 375,383,630 11.5 % Premiums and policy fees: Life insurance $ 2,603,956 $ (1,279,908 ) $ 349,934 $ 1,673,982 (1) 20.9 % Accident/health insurance 81,037 (42,741 ) 20,804 59,100 35.2 Property and liability insurance 218,663 (73,094 ) 8,675 154,244 5.6 Total $ 2,903,656 $ (1,395,743 ) $ 379,413 $ 1,887,326 For The Year Ended December 31, 2013: Life insurance in-force $ 726,697,151 $ (416,809,287 ) $ 46,752,176 $ 356,640,040 13.1 % Premiums and policy fees: Life insurance $ 2,371,872 $ (1,299,631 ) $ 306,921 $ 1,379,162 (1) 22.3 % Accident/health insurance 45,262 (20,011 ) 24,291 49,542 49.0 Property and liability insurance 210,999 (67,795 ) 7,977 151,181 5.3 Total $ 2,628,133 $ (1,387,437 ) $ 339,189 $ 1,579,885 (1) Includes annuity policy fees of $77.2 million , $7.7 million $92.8 million , and $88.7 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014, and 2013 (Predecessor Company), respectively. (2) January 31, 2015 (Predecessor Company) balance sheet information is not presented in our consolidated financial statements, therefore January 31, 2015 Life Insurance In-Force has been omitted from this schedule.

SCHEDULE V - VALUATION AND QUAL

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE V — VALUATION AND QUALIFYING ACCOUNTS PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES Successor Company Additions Description Balance at beginning of period Charged to costs and expenses Charges to other accounts Deductions Balance at end of period (Dollars In Thousands) As of December 31, 2015 Allowance for losses on commercial mortgage loans $ — $ 2,561 $ — $ (2,561 ) $ — Predecessor Company Additions Description Balance at beginning of period Charged to Charges Deductions Balance (Dollars In Thousands) As of January 31, 2015 Allowance for losses on commercial mortgage loans $ 5,720 $ (2,359 ) $ — $ (861 ) $ 2,500 As of December 31, 2014 Allowance for losses on commercial mortgage loans $ 3,130 $ 3,265 $ — $ (675 ) $ 5,720

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs ("DAC") and related amortization periods, goodwill recoverability, value of business acquired ("VOBA"), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters.
Valuation of Investment Securities	Valuation of Investment Securities The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a "waterfall" approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations ("CMOs"), and mortgage-backed securities ("MBS") are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures ("CUSIP") level. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded. Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company's intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security's amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer's industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company's expectations for recovery of the security's entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security's basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than-temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security's amortized cost are written down to discounted expected future cash flows ("post impairment cost") and credit losses are recorded in earnings. The difference between the securities' discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities ("RMBS"), commercial mortgage-backed securities ("CMBS"), and other asset-backed securities (collectively referred to as asset-backed securities or "ABS"), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings.
Cash	Cash Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank. Such negative balances are included in other liabilities and were $70.3 million as of December 31, 2015 (Successor Company) and was immaterial as of December 31, 2014 (Predecessor Company), respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The incremental direct costs associated with successfully acquired insurance policies are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization. The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 8% ) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method.
Value of Businesses Acquired	Value of Businesses Acquired In conjunction with the Merger, a portion of the purchase price was allocated to the right to receive future gross profits from cash flows and earnings of the Company's insurance policies and investment contracts as of the date of the Merger. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from the Company's insurance policies and investment contracts in-force on the date of the Merger. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins ("EGMs") for participating traditional life products within the MONY Life Insurance Company ("MONY") block. For interest sensitive products, the Company uses various amortization bases including expected gross profits ("EGPs"), revenues, or insurance in-force. VOBA is subject to annual recoverability testing.
Intangible Assets	Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, and technology. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable.
Property and Equipment	Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value as of the Merger date and will be depreciated from this basis in future periods based on the respective estimated useful lives. Real estate assets were recorded at appraised values as of the acquisition date. The Company has estimated the remaining useful life of the home office building to be 25 years . Land is not depreciated. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and software and computers are depreciated over a three year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income.
Separate Accounts	Separate Accounts The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder's equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income.
Stable Value Product Account Balances	Stable Value Product Account Balances The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank ("FHLB"), and markets guaranteed investment contracts ("GICs") to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. During 2015, the Company terminated its funding agreement-backed notes program registered with the United States Securities and Exchange Commission (the “SEC”) and, on October 2, 2015, established an unregistered funding agreement-backed notes program. The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of the Company as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued. As of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had $400.7 million and $39.8 million , respectively, of stable value product account balances marketed through structured programs. Most GICs and funding agreements the Company has written have maturities of one to ten years .
Derivative Financial Instruments	Derivative Financial Instruments The Company records its derivative financial instruments in the consolidated balance sheet in "other long-term investments" and "other liabilities" in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company's hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in "Realized investment gains (losses)—Derivative financial instruments". For additional information, see Note 23, Derivative Financial Instruments .
Insurance Liabilities and Reserves	Insurance Liabilities and Reserves Establishing an adequate liability for the Company's obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company's historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company's property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company's results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company's reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments.
Guaranteed Minimum Withdrawal Benefits	Guaranteed Minimum Withdrawal Benefits The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current implied volatilities for the equity indices. The fair value of the GMWB is impacted by equity market conditions and can result in the GMWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GMWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GMWB embedded derivative liability. The methods used to estimate the embedded derivatives employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. In conjunction with the Merger, the Company updated the fair value of the GMWB reserves to reflect current assumptions as of February 1, 2015 (Successor Company). As a result of the application of ASC Topic 805, the Company reset the hedge premium rates utilized in the valuation for all policies to be equal to the present value of future claims with the reset hedge premium rates being capped at the actual charges to the policyholder. This update resulted in a decrease in the net liability of approximately $69.4 million on the Merger date. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC. As of December 31, 2015 (Successor Company), the Company’s net GMWB liability held, including the impact of reinsurance, was $18.5 million .
Goodwill	Goodwill Accounting for goodwill requires an estimate of the future profitability of the associated lines of business to assess the recoverability of the capitalized acquisition goodwill. The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If it is determined that it is more likely than not that impairment exists, the Company compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit's carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The Company's material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The cash flows used to determine the fair value of the Company's reporting units are dependent on a number of significant assumptions. The Company's estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions.
Income Taxes	Income Taxes The Company uses the asset and liability method of accounting for income taxes. In general, income tax provisions are based on the income reported for financial statement purposes. Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to net unrealized gains (losses), deferred policy acquisition costs and value of business acquired, and future policy benefits and claims. The Company analyzes whether it needs to establish a valuation allowance on each of its deferred tax assets. In performing this analysis, the Company first considers the need for a valuation allowance on each separate deferred tax asset. Ultimately, it analyzes this need in the aggregate in order to prevent the double-counting of expected future taxable income in each of the foregoing separate analyses.
Variable Interest Entities	Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available-for-sale, or held-to-maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity ("VIE"). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. For more information on the Company's investment in a VIE refer to Note 6, Investment Operations, to the consolidated financial statements.
Policyholder Liabilities, Revenues and Benefits Expense	Policyholder Liabilities, Revenues, and Benefits Expense Traditional Life, Health, and Credit Insurance Products Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and they include whole life insurance policies, term and term-like life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies. In accordance with ASC 805, the liabilities for future policy benefits on traditional life insurance products, when combined with the associated VOBA, were recorded at fair value on the date of the Merger. These values were computed using assumptions that include interest rates, mortality, lapse rates, expense estimates, and other assumptions based on the Company's experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Liabilities for future policy benefits on traditional life insurance products have been computed using a net level method including assumptions as to investment yields, mortality, persistency, and other assumptions based on the Company's experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Reserve investment yield assumptions on December 31, 2015 (Successor Company), range from approximately 2.8% to 4.5% . The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. Policy claims are charged to expense in the period in which the claims are incurred. Traditional life insurance premiums are recognized as revenue when due. Health and credit insurance premiums are recognized as revenue over the terms of the policies. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contracts. This is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and VOBA. Gross premiums in excess of net premiums related to immediate annuities are deferred and recognized over the life of the policy. Activity in the liability for unpaid claims for life and health insurance is summarized as follows: Successor Company Predecessor Company As of December 31, As of January 31, As of December 31, 2015 2015 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Balance beginning of year $ 403,009 $ 419,401 $ 334,450 $ 326,633 Less: reinsurance 149,618 163,671 117,502 155,341 Net balance beginning of year 253,391 255,730 216,948 171,292 Incurred related to: Current year 973,175 97,573 1,075,005 698,028 Prior year 95,977 9,360 102,936 68,396 Total incurred 1,069,152 106,933 1,177,941 766,424 Paid related to: Current year 939,824 98,281 1,017,193 682,877 Prior year 111,222 10,991 121,966 85,146 Total paid 1,051,046 109,272 1,139,159 768,023 Other changes: Acquisition and reserve transfers (1) — — — 47,255 Net balance end of year 271,497 253,391 255,730 216,948 Add: reinsurance 112,537 149,618 163,671 117,502 Balance end of year $ 384,034 $ 403,009 $ 419,401 $ 334,450 (1) This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 (Predecessor Company) for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 (Predecessor Company) for MONY Life Insurance Company is not reflected in this chart. Universal Life and Investment Products Universal life and investment products include universal life insurance, guaranteed investment contracts, guaranteed funding agreements, deferred annuities, and annuities without life contingencies. Premiums and policy fees for universal life and investment products consist of fees that have been assessed against policy account balances for the costs of insurance, policy administration, and surrenders. Such fees are recognized when assessed and earned. Benefit reserves for universal life and investment products represent policy account balances before applicable surrender charges plus certain deferred policy initiation fees that are recognized in income over the term of the policies. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest rates credited to universal life products ranged from 1.0% to 8.75% and investment products ranged from 0.2% to 9.8% in 2015 . The Company establishes liabilities for fixed indexed annuity ("FIA") products. These products are deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance. The FIA product is considered a hybrid financial instrument under the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" or "Codification") Topic 815 - Derivatives and Hedging which allows the Company to make the election to value the liabilities of these FIA products at fair value. This election was made for the FIA products issued prior to 2010 as the policies were issued. These products are no longer being marketed. The future changes in the fair value of the liability for these FIA products are recorded in Benefit and settlement expenses with the liability being recorded in Annuity account balances . For more information regarding the determination of fair value of annuity account balances please refer to Note 22, Fair Value of Financial Instruments . Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned. The Company currently markets a deferred fixed annuity with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB's ASC Topic 815 - Derivatives and Hedging . The Company did not elect to value these FIA products at fair value prior to the Merger date. As a result, the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses) - Derivative financial instruments . For more information regarding the determination of fair value of the FIA embedded derivative refer to Note 22, Fair Value of Financial Instruments . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944 - Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company markets universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB's ASC Topic 815 - Derivatives and Hedging . The Company did not elect to value these IUL products at fair value prior to the Merger date. As a result, the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses) - Derivative financial instruments . For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 22, Fair Value of Financial Instruments . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944 - Financial Services - Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company's accounting policies with respect to variable universal life ("VUL") and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts. The Company establishes liabilities for guaranteed minimum death benefits ("GMDB") on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Future declines in the equity market would increase the Company's GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. Our GMDB, as of December 31, 2015 (Successor Company), are subject to a dollar-for-dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. The Company reinsures certain risks associated with the GMDB to Shades Creek. As of December 31, 2015 (Successor Company), the GMDB reserve, including the impact of reinsurance, was $29.9 million . Property and Casualty Insurance Products Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection ("GAP"). Premiums for service contracts and GAP products are recognized based on expected claim patterns. For all other products, premiums are generally recognized over the terms of the contract on a pro-rata basis. Fee income from providing administrative services is recognized as earned when the related services are performed. Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported ("IBNR") reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends.
Reinsurance	Reinsurance The Company uses reinsurance extensively in certain of its segments and accounts for reinsurance and the recognition of the impact of reinsurance costs in accordance with the ASC Financial Services - Insurance Topic. The following summarizes some of the key aspects of the Company's accounting policies for reinsurance. Reinsurance Accounting Methodology —Ceded premiums of the Company's traditional life insurance products are treated as an offset to direct premium and policy fee revenue and are recognized when due to the assuming company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable financial reporting period. Expense allowances paid by the assuming companies which are allocable to the current period are treated as an offset to other operating expenses. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the "ultimate" or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances representing recovery of acquisition costs is treated as an offset to direct amortization of DAC or VOBA. Amortization of deferred expense allowances is calculated as a level percentage of expected premiums in all durations given expected future lapses and mortality and accretion due to interest. The Company utilizes reinsurance on certain short duration insurance contracts (primarily issued through the Asset Protection segment). As part of these reinsurance transactions the Company receives reinsurance allowances which reimburse the Company for acquisition costs such as commissions and premium taxes. A ceding fee is also collected to cover other administrative costs and profits for the Company. As a component of reinsurance costs, reinsurance allowances are accounted for in accordance with the relevant provisions of ASC Financial Services—Insurance Topic, which state that reinsurance costs should be amortized over the contract period of the reinsurance if the contract is short-duration. Accordingly, reinsurance allowances received related to short-duration contracts are capitalized and charged to expense in proportion to premiums earned. Ceded unamortized acquisition costs are netted with direct unamortized acquisition costs in the balance sheet. Ceded premiums and policy fees on the Company's fixed universal life ("UL"), VUL, bank-owned life insurance ("BOLI"), and annuity products reduce premiums and policy fees recognized by the Company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable valuation period. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the "ultimate" or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances are amortized based on future expected gross profits. Assumptions regarding mortality, lapses, and interest rates are continuously reviewed and may be periodically changed. These changes will result in "unlocking" that changes the balance in the ceded deferred acquisition cost and can affect the amortization of DAC and VOBA. Ceded unearned revenue liabilities are also amortized based on expected gross profits. Assumptions are based on the best current estimate of expected mortality, lapses and interest spread. The Company has also assumed certain policy risks written by other insurance companies through reinsurance agreements. Premiums and policy fees as well as Benefits and settlement expenses include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Assumed reinsurance is accounted for in accordance with ASC Financial Services—Insurance Topic. Reinsurance Allowances—Long-Duration Contracts —Reinsurance allowances are intended to reimburse the ceding company for some portion of the ceding company's commissions, expenses, and taxes. The amount and timing of reinsurance allowances (both first year and renewal allowances) are contractually determined by the applicable reinsurance contract and do not necessarily bear a relationship to the amount and incidence of expenses actually paid by the ceding company in any given year. Ultimate reinsurance allowances are defined as the lowest allowance percentage paid by the reinsurer in any policy duration over the lifetime of a universal life policy (or through the end of the level term period for a traditional life policy). Ultimate reinsurance allowances are determined during the negotiation of each reinsurance agreement and will differ between agreements. The Company determines its "cost of reinsurance" to include amounts paid to the reinsurer (ceded premiums) net of amounts reimbursed by the reinsurer (in the form of allowances). As noted within ASC Financial Services—Insurance Topic, "The difference, if any, between amounts paid for a reinsurance contract and the amount of the liabilities for policy benefits relating to the underlying reinsured contracts is part of the estimated cost to be amortized." The Company's policy is to amortize the cost of reinsurance over the life of the underlying reinsured contracts (for long-duration policies) in a manner consistent with the way in which benefits and expenses on the underlying contracts are recognized. For the Company's long-duration contracts, it is the Company's practice to defer reinsurance allowances as a component of the cost of reinsurance and recognize the portion related to the recovery of acquisition costs as a reduction of applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. The remaining balance of reinsurance allowances are included as a component of the cost of reinsurance and those allowances which are allocable to the current period are recorded as an offset to operating expenses in the current period consistent with the recognition of benefits and expenses on the underlying reinsured contracts. This practice is consistent with the Company's practice of capitalizing direct expenses (e.g. commissions), and results in the recognition of reinsurance allowances on a systematic basis over the life of the reinsured policies on a basis consistent with the way in which acquisition costs on the underlying reinsured contracts would be recognized. In some cases reinsurance allowances allocable to the current period may exceed non-deferred direct costs, which may cause net other operating expenses (related to specific contracts) to be negative. Amortization of Reinsurance Allowances —Reinsurance allowances do not affect the methodology used to amortize DAC and VOBA, or the period over which such DAC and VOBA are amortized. Reinsurance allowances offset the direct expenses capitalized, reducing the net amount that is capitalized. DAC and VOBA on traditional life policies are amortized based on the pattern of estimated gross premiums of the policies in force. Reinsurance allowances do not affect the gross premiums, so therefore they do not impact traditional life amortization patterns. DAC and VOBA on universal life products are amortized based on the pattern of estimated gross profits of the policies in force. Reinsurance allowances are considered in the determination of estimated gross profits, and therefore do impact amortization patterns. Reinsurance Assets and Liabilities —Claim liabilities and policy benefits are calculated consistently for all policies, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. The reinsurance receivables were recorded in the balance sheet using current accounting policies and the most current assumptions as of the Merger date. As of the Merger date, the Company also calculated the ceded VOBA associated with the reinsured policies. The reinsurance receivables combined with the associated ceded VOBA represent the fair value of the reinsurance assets. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed by the Company's actuarial staff to ensure that appropriate amounts are ceded. The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit. Components of Reinsurance Cost —The following income statement lines are affected by reinsurance cost: Premiums and policy fees ("reinsurance ceded" on the Company's financial statements) represent consideration paid to the assuming company for accepting the ceding company's risks. Ceded premiums and policy fees increase reinsurance cost. Benefits and settlement expenses include incurred claim amounts ceded and changes in ceded policy reserves. Ceded benefits and settlement expenses decrease reinsurance cost. Amortization of deferred policy acquisition cost and VOBA reflects the amortization of capitalized reinsurance allowances representing recovery of acquisition costs. Ceded amortization decreases reinsurance cost. Other expenses include reinsurance allowances paid by assuming companies to the Company less amounts representing recovery of acquisition costs. Reinsurance allowances decrease reinsurance cost. The Company's reinsurance programs do not materially impact the other income line of the Company's income statement. In addition, net investment income generally has no direct impact on the Company's reinsurance cost. However, it should be noted that by ceding business to the assuming companies, the Company forgoes investment income on the reserves ceded to the assuming companies. Conversely, the assuming companies will receive investment income on the reserves assumed which will increase the assuming companies' profitability on business assumed from the Company.
Accounting Pronouncements Recently And Not Yet Adopted	Accounting Pronouncements Recently Adopted Accounting Standards Update ("ASU") No. 2014-08—Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity. This Update changes the requirements for reporting discontinued operations and related disclosures. The Update limits the definition of a discontinued operation to disposals that represent "strategic shifts" that will have a major effect on an entity's operation and financial results. Additionally, the Update requires enhanced disclosures about the components of discontinued operations and the financial effects of the disposal. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Company has reviewed the additional disclosures required by the Update, and will apply the revised guidance to any disposals occurring after the effective date. ASU No. 2014-11-Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. This Update changes the requirements for classification of certain repurchase agreements, and will expand the use of secured borrowing accounting for repurchase-to-maturity transactions. In addition, the Update requires additional disclosures for repurchase agreements accounted for both as sales and as secured borrowings. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Update did not impact the Company’s financial position or results of operations. The Company has updated its policies and processes to ensure compliance with the additional disclosure requirements in this Update. ASU No. 2014-17-Business Combinations (Topic 805). This Update relates to “pushdown accounting”, which refers to pushing down the acquirer’s accounting and reporting basis (which is recognized in conjunction with its accounting for a business combination) to the acquiree’s standalone financial statements. The new guidance makes pushdown accounting optional for an acquiree that is a business or nonprofit activity when there is a change-in-control event (e.g., the acquirer in a business combination obtains control over the acquiree). In addition, the staff of the SEC released Staff Accounting Bulletin (“SAB”) No. 115, which rescinds SAB Topic 5J, “New Basis of Accounting Required in Certain Circumstances” (the SEC staff’s pre-existing guidance on pushdown accounting) and conforms SEC guidance on pushdown accounting to the FASB’s new guidance. Revised SEC guidance was codified in ASU No. 2015-08, issued in May 2015. The new pushdown accounting guidance became effective upon its issuance on November 18, 2014. Although now optional, the Company has applied pushdown accounting to its standalone financial statements effective with the Company becoming a wholly owned subsidiary of Dai-ichi Life on February 1, 2015. The presentation within this report for predecessor and successor periods is consistent with this Update. ASU No. 2015-16 - Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments. This Update provides that an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period following a business combination in the reporting period in which the adjustment amounts are determined. This Update is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in the Update are to be applied prospectively for adjustments that occur after the effective date, with early adoption permitted for financial statements that have not been issued. The Company elected early adoption of the revised guidance in this Update by way of a change in accounting principle in the fourth quarter of 2015. The Company made adjustments to provisional amounts recorded as part of the Dai-ichi Merger which resulted in a decrease to goodwill of $3.3 million . See Note 9, Goodwill for more details on the measurement period adjustment. Accounting Pronouncements Not Yet Adopted ASU No. 2014-09-Revenue from Contracts with Customers (Topic 606). This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update was originally effective for annual and interim periods beginning after December 15, 2016. However, in August 2015, the FASB issued ASU No. 2015-14 - Revenues from Contracts with Customers: Deferral of the Effective Date , to defer the effective date of ASU No. 2014-09 by one year to annual and interim periods beginning after December 15, 2017. Early adoption will be allowed, but not before the original effective date. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption. The Company is currently assessing the impact this standard will have on its non-insurance operations. ASU No. 2014-15-Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This Update will require management to assess an entity’s ability to continue as a going concern, and will require footnote disclosures in certain circumstances. Under the updated guidance, management should consider relevant conditions and evaluate whether it is probable that the entity will be unable to meet its obligations within one year after the issuance date of the financial statements. The Update is effective for annual periods ending December 31, 2016 and for annual and interim periods thereafter, with early adoption permitted. The amendments in this Update will not impact the Company’s financial position or results of operations. However, the new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance. The Company is reviewing its policies and processes to ensure compliance with the new guidance. ASU No. 2015-02-Consolidation-Amendments to the Consolidation Analysis. This Update makes several targeted changes to generally accepted accounting principles, including a) eliminating the presumption that a general partner should consolidate a limited partnership and b) eliminating the consolidation model specific to limited partnerships. The amendments also clarify when fees and related party relationships should be considered in the consolidation of variable interest entities. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2015. The Company is prepared to comply with the revised guidance and does not expect a material financial or operational impact upon adoption. ASU No. 2015-03-Interest-Imputation of Interest. The objective of this Update is to eliminate diversity in practice related to the presentation of debt issuance costs. The amendments in this Update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this Update. The Update is effective for fiscal years beginning after December 15, 2015, and requires revised presentation of debt issuance costs in all periods presented in the financial statements. The Company is prepared to comply with the revised guidance and does not believe it will materially impact the presentation of the Company’s financial position. ASU No. 2015-05 - Intangibles - Goodwill and Other - Internal-Use Software. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The Update is effective for annual and interim periods beginning after December 15, 2015. The Company is prepared to comply with the revised guidance and does not believe it will materially impact the presentation of the Company’s financial position. ASU No. 2015-09 - Financial Services-Insurance (Topic 944): Disclosures about Short-Duration Contracts. The amendments in this Update require additional disclosures for short-duration contracts issued by insurance entities. The additional disclosures focus on the liability for unpaid claims and claim adjustment expenses and include incurred and paid claims development information by accident year in tabular form, along with a reconciliation of this information to the statement of financial position. For accident years included in the development tables, the amendments also require disclosure of the total incurred-but-not-reported liabilities and expected development on reported claims, along with claims frequency information unless impracticable. Finally, the amendments require disclosure of the historical average annual percentage payout of incurred claims. With the exception of the current reporting period, claims development information may be presented as supplementary information. The Update is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. The Company is reviewing its products to determine the applicability and potential impact of the new disclosures. ASU No. 2015-12 - Plan Accounting - (Topics 960, 962 and 965). This Update is a three-part standard that provides guidance on certain aspects of the accounting related to employee benefit plans. Part I requires an employee benefit plan to use contract value as the only measurement amount for fully-benefit responsive investment contracts. Part II simplifies and increases the effectiveness of plan investment disclosure requirements for employee benefit plans by eliminating certain disclosures related to individual investments over 5 percent and by eliminating the need to disaggregate investments in multiple ways. Part III provides a measurement-date practical expedient for plan investments when the fiscal year-end of a plan does not coincide with a month-end. The guidance is effective for fiscal years beginning after December 15, 2015 for all three parts and early adoption is permitted. For parts I and II, amendments should be applied retrospectively to all financial statements presented, while part III should be applied prospectively. The Company is reviewing its policies and procedures to ensure compliance with the revised guidance. ASU No. 2015-15 - Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The objective of this Update is to clarify the SEC Staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on the topic in ASU No. 2015-03. This Update reflects the SEC Staff’s decision to not object when an entity defers and presents debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. The Company is prepared to comply with the revised guidance. ASU No. 2016-01 - Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most notably, the Update requires that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) be measured at fair value with changes in fair value recognized in net income. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2017. The Company is reviewing its policies and processes to ensure compliance with the revised guidance. ASU No. 2016-02 - Leases. This Update will amend the accounting model used by lessees, requiring all leases with terms greater than twelve months to be recorded on the balance sheet in the form of a right-of-use asset and lease liability. These amounts will be initially measured as the present value of remaining lease payments. The Update will retain the existing distinction between operating and finance leases. This distinction will impact both the measurement and classification of lease expense over the term of the contract. The Update also introduces minor changes to the accounting model for lessors, along with new disclosures focused on providing users with qualitative and quantitative information about the amounts recorded in the financial statements. The Update is effective for annual and interim periods beginning after December 15, 2018. The Company is reviewing its policies and processes, as well as existing lease agreements, to determine the impact of the updated guidance. ASU No. 2016-08 - Revenue from Contracts with Customers - Principal versus Agent Considerations. This Update provides clarifying guidance regarding the application of ASU No. 2014-09 - Revenue From Contracts with Customers when another party, along with the reporting entity, is involved in providing a good or a service to a customer. In these circumstances, an entity is required to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent). The amendments in the Update clarify the implementation guidance on principal versus agent considerations. The Update is effective, along with ASU 2014-09, for annual and interim periods beginning after December 15, 2017. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update with regard to its non-insurance operations.

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Home office building $ 90,617 $ 75,109 Data processing equipment 14,607 40,568 Other, principally furniture and equipment 4,284 52,771 109,508 168,448 Accumulated depreciation (7,908 ) (116,688 ) Total property and equipment $ 101,600 $ 51,760
Schedule of future maturities of stable value products	As of December 31, 2015 (Successor Company), future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2016 $ 534.7 2017 - 2018 1,068.1 2019 - 2020 451.2 Thereafter 62.3
Summary of activity in the liability for unpaid claims for life and health insurance	Activity in the liability for unpaid claims for life and health insurance is summarized as follows: Successor Company Predecessor Company As of December 31, As of January 31, As of December 31, 2015 2015 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Balance beginning of year $ 403,009 $ 419,401 $ 334,450 $ 326,633 Less: reinsurance 149,618 163,671 117,502 155,341 Net balance beginning of year 253,391 255,730 216,948 171,292 Incurred related to: Current year 973,175 97,573 1,075,005 698,028 Prior year 95,977 9,360 102,936 68,396 Total incurred 1,069,152 106,933 1,177,941 766,424 Paid related to: Current year 939,824 98,281 1,017,193 682,877 Prior year 111,222 10,991 121,966 85,146 Total paid 1,051,046 109,272 1,139,159 768,023 Other changes: Acquisition and reserve transfers (1) — — — 47,255 Net balance end of year 271,497 253,391 255,730 216,948 Add: reinsurance 112,537 149,618 163,671 117,502 Balance end of year $ 384,034 $ 403,009 $ 419,401 $ 334,450 (1) This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 (Predecessor Company) for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 (Predecessor Company) for MONY Life Insurance Company is not reflected in this chart.

DAI-ICHI MERGER (Tables)

DAI-ICHI MERGER (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Summary of consideration paid and fair value of assets acquired and liabilities assumed	The following table summarizes the fair value of assets acquired and liabilities assumed at the acquisition date: Fair Value As of February 1, 2015 (Dollars In Thousands) Assets Fixed maturities $ 38,342,948 Equity securities 699,081 Mortgage loans 5,580,229 Investment real estate 7,456 Policy loans 1,751,872 Other long-term investments 657,346 Short-term investments 311,236 Total investments 47,350,168 Cash 378,903 Accrued investment income 483,691 Accounts and premiums receivable 104,260 Reinsurance receivables 5,538,637 Value of business acquired 1,278,064 Goodwill 735,712 Other intangibles 683,000 Property and equipment 102,736 Other assets 224,555 Income tax receivable 50,117 Assets related to separate accounts Variable annuity 12,970,587 Variable universal life 819,188 Total assets $ 70,719,618 Liabilities Future policy and benefit claims $ 30,195,397 Unearned premiums 622,278 Total policy liabilities and accruals 30,817,675 Stable value product account balances 1,932,277 Annuity account balances 10,941,661 Other policyholders' funds 1,388,083 Other liabilities 1,533,666 Deferred income taxes 1,861,632 Non-recourse funding obligations 1,895,636 Repurchase program borrowings 50,000 Liabilities related to separate accounts Variable annuity 12,970,587 Variable universal life 819,188 Total liabilities 64,210,405 Net assets acquired $ 6,509,213
Intangible assets recognized	Intangible assets recognized by the Company included the following (excluding goodwill): Estimated Fair Value on Estimated Acquisition Date Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 405,000 14-22 Trade names 103,000 13-17 Technology 143,000 7-14 Total intangible assets subject to amortization 651,000 Insurance licenses 32,000 Indefinite Total intangible assets $ 683,000
Schedule of future estimated aggregated amortization expense	Amortizable intangible assets will be amortized straight line over their assigned useful lives. The following is a schedule of future estimated aggregate amortization expense: Year Amount (Dollars In Thousands) 2016 $ 41,313 2017 41,313 2018 41,313 2019 41,313 2020 41,313

MONY CLOSED BLOCK OF BUSINESS (

MONY CLOSED BLOCK OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2015
Closed Block Disclosure [Abstract]
Summary of financial information for the Closed Block	Summarized financial information for the Closed Block as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) and is as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders' account balances and other policyholder liabilities $ 6,010,520 $ 6,138,505 Policyholder dividend obligation — 366,745 Other liabilities 22,917 53,838 Total closed block liabilities 6,033,437 6,559,088 Closed block assets Fixed maturities, available-for-sale, at fair value 4,426,090 4,524,037 Equity securities, available-for-sale, at fair value — 5,387 Mortgage loans on real estate 247,162 448,855 Policy loans 746,102 771,120 Cash and other invested assets 34,420 30,984 Other assets 166,445 221,270 Total closed block assets 5,620,219 6,001,653 Excess of reported closed block liabilities over closed block assets 413,218 557,435 Portion of above representing accumulated other comprehensive income: Net unrealized investments gains (losses) net of policyholder dividend obligation of $(179,360) (Successor) and $106,886 (Predecessor) (18,597 ) — Future earnings to be recognized from closed block assets and closed block liabilities $ 394,621 $ 557,435
Schedule of reconciliation of the policyholder dividend obligation	Reconciliation of the policyholder dividend obligation is as follows: Successor Company Predecessor Company February 1, 2015 to December 31, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 Policyholder dividend obligation, beginning balance $ 323,432 $ 366,745 $ 190,494 Applicable to net revenue (losses) (47,493 ) (1,369 ) (910 ) Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation; includes deferred tax benefits of $(96,579) (Successor); $47,277 (2015 - Predecessor); $58,571 (2014 - Predecessor) (275,939 ) 135,077 177,161 Policyholder dividend obligation, ending balance $ — $ 500,453 $ 366,745
Schedule of Closed Block revenues and expenses	Closed Block revenues and expenses were as follows: Successor Company Predecessor Company February 1, 2015 to December 31, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Premiums and other income $ 185,562 $ 15,065 $ 212,765 Net investment income 193,203 19,107 239,028 Net investment gains 3,333 568 10,528 Total revenues 382,098 34,740 462,321 Benefits and other deductions Benefits and settlement expenses 336,629 31,152 417,667 Other operating expenses 1,001 — 674 Total benefits and other deductions 337,630 31,152 418,341 Net revenues before income taxes 44,468 3,588 43,980 Income tax expense 14,920 1,256 20,377 Net revenues $ 29,548 $ 2,332 $ 23,603

INVESTMENT OPERATIONS (Tables)

INVESTMENT OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
INVESTMENT OPERATIONS
Summary of major categories of net investment income	Major categories of net investment income are summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ 1,266,769 $ 140,052 $ 1,711,722 $ 1,508,924 Equity securities 40,879 2,556 41,533 26,735 Mortgage loans 252,577 24,977 360,778 333,093 Investment real estate 2,528 112 4,483 3,555 Short-term investments 93,938 9,974 109,592 72,433 1,656,691 177,671 2,228,108 1,944,740 Other investment expenses 123,895 13,066 130,095 108,552 Net investment income $ 1,532,796 $ 164,605 $ 2,098,013 $ 1,836,188
Summary of net realized investment gains (losses) for invested assets	Net realized investment gains (losses) for all other investments are summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ 1,272 $ 6,891 $ 75,074 $ 63,161 Equity securities (1,001 ) — 495 3,276 Impairments on fixed maturity securities (26,993 ) (481 ) (7,275 ) (19,100 ) Impairments on equity securities — — — (3,347 ) Modco trading portfolio (167,359 ) 73,062 142,016 (178,134 ) Other investments 153 1,200 (12,283 ) (9,840 ) Total realized gains (losses) - investments $ (193,928 ) $ 80,672 $ 198,027 $ (143,984 )
Schedule of amortized cost and fair value of the Company's investments classified as available-for-sale	The amortized cost and fair value of the Company’s investments classified as available-for-sale as of December 31, 2015 (Successor Company) and as of December 31, 2014 (Predecessor Company), are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) Successor Company As of December 31, 2015 Fixed maturities: Residential mortgage-backed securities $ 1,773,099 $ 9,286 $ (17,112 ) $ 1,765,273 $ — Commercial mortgage-backed securities 1,327,288 428 (41,852 ) 1,285,864 — Other asset-backed securities 813,056 2,758 (18,763 ) 797,051 — U.S. government-related securities 1,566,260 449 (34,532 ) 1,532,177 — Other government-related securities 18,483 — (743 ) 17,740 — States, municipals, and political subdivisions 1,729,732 682 (126,814 ) 1,603,600 — Corporate securities 28,433,530 26,147 (2,681,020 ) 25,778,657 (605 ) Preferred stock 64,362 192 (1,867 ) 62,687 — 35,725,810 39,942 (2,922,703 ) 32,843,049 (605 ) Equity securities 684,888 13,255 (6,477 ) 691,666 — Short-term investments 202,110 — — 202,110 — $ 36,612,808 $ 53,197 $ (2,929,180 ) $ 33,736,825 $ (605 ) Amortized Cost Gross Unrealized Gains Gross Fair Total OTTI (1) (Dollars In Thousands) Predecessor Company As of December 31, 2014 Fixed maturities: Residential mortgage-backed securities $ 1,374,141 $ 56,381 $ (12,264 ) $ 1,418,258 $ 6,404 Commercial mortgage-backed securities 1,119,979 59,637 (2,364 ) 1,177,252 — Other asset-backed securities 857,365 17,961 (35,950 ) 839,376 (95 ) U.S. government-related securities 1,394,028 44,149 (9,282 ) 1,428,895 — Other government-related securities 16,939 3,233 — 20,172 — States, municipals, and political subdivisions 1,391,526 296,594 (431 ) 1,687,689 — Corporate securities 24,744,050 2,760,703 (138,975 ) 27,365,778 — 30,898,028 3,238,658 (199,266 ) 33,937,420 6,309 Equity securities 713,813 35,646 (14,153 ) 735,306 — Short-term investments 151,572 — — 151,572 — $ 31,763,413 $ 3,274,304 $ (213,419 ) $ 34,824,298 $ 6,309 (1)These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
Schedule of amortized cost and fair value of the Company's investments classified as held-to-maturity	The amortized cost and fair value of the Company's investments classified as held-to-maturity as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (Dollars In Thousands) Successor Company As of December 31, 2015 Fixed maturities: Other $ 593,314 $ — $ (78,314 ) $ 515,000 $ — $ 593,314 $ — $ (78,314 ) $ 515,000 $ — Amortized Cost Gross Gross Fair Total OTTI (Dollars In Thousands) Predecessor Company As of December 31, 2014 Fixed maturities: Other $ 435,000 $ 50,422 $ — $ 485,422 $ — $ 435,000 $ 50,422 $ — $ 485,422 $ —
Schedule of amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities, by expected maturity	The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2015 (Successor Company), by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment. Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ 937,594 $ 935,861 $ — $ — Due after one year through five years 5,860,269 5,725,005 — — Due after five years through ten years 7,791,519 7,494,182 — — Due after ten years 21,136,428 18,688,001 593,314 515,000 $ 35,725,810 $ 32,843,049 $ 593,314 $ 515,000
Schedule of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income	The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss): Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ 15,463 $ 41,674 $ 121,237 Additions for newly impaired securities 22,761 — — 3,516 Additions for previously impaired securities — 221 2,263 12,066 Reductions for previously impaired securities due to a change in expected cash flows — — (28,474 ) (87,908 ) Reductions for previously impaired securities that were sold in the current period — — — (7,237 ) Other — — — — Ending balance $ 22,761 $ 15,684 $ 15,463 $ 41,674
Schedule of investments' gross unrealized losses and fair value of the Company's investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014 (Predecessor Company): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 165,877 $ (9,547 ) $ 67,301 $ (2,717 ) $ 233,178 $ (12,264 ) Commercial mortgage-backed securities 49,908 (334 ) 102,529 (2,030 ) 152,437 (2,364 ) Other asset-backed securities 108,665 (6,473 ) 537,488 (29,477 ) 646,153 (35,950 ) U.S. government-related securities 231,917 (3,868 ) 280,803 (5,414 ) 512,720 (9,282 ) Other government-related securities — — — — — — States, municipalities, and political subdivisions 1,905 (134 ) 10,481 (297 ) 12,386 (431 ) Corporate securities 1,657,103 (76,285 ) 776,863 (62,690 ) 2,433,966 (138,975 ) Equities 17,430 (218 ) 129,509 (13,935 ) 146,939 (14,153 ) $ 2,232,805 $ (96,859 ) $ 1,904,974 $ (116,560 ) $ 4,137,779 $ (213,419 ) The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2015 (Successor Company): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 977,433 $ (17,112 ) $ — $ — $ 977,433 $ (17,112 ) Commercial mortgage-backed securities 1,232,495 (41,852 ) — — 1,232,495 (41,852 ) Other asset-backed securities 633,274 (18,763 ) — — 633,274 (18,763 ) U.S. government-related securities 1,291,476 (34,532 ) — — 1,291,476 (34,532 ) Other government-related securities 17,740 (743 ) — — 17,740 (743 ) States, municipalities, and political subdivisions 1,566,752 (126,814 ) — — 1,566,752 (126,814 ) Corporate securities 24,235,121 (2,681,020 ) — — 24,235,121 (2,681,020 ) Preferred stock 34,685 (1,867 ) — — 34,685 (1,867 ) Equities 248,493 (6,477 ) — — 248,493 (6,477 ) $ 30,237,469 $ (2,929,180 ) $ — $ — $ 30,237,469 $ (2,929,180 )
Summary of change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale	The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ (1,873,795 ) 669,160 $ 1,224,248 $ (1,269,277 ) Equity securities 4,406 12,172 33,642 (20,899 )

MORTGAGE LOANS (Tables)

MORTGAGE LOANS (Tables)	12 Months Ended
	Dec. 31, 2015
Mortgage Loans [Abstract]
Schedule of the breakdown of the commercial mortgage loan portfolio by property type	The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2015 (Successor Company): Type Percentage of Mortgage Loans on Real Estate Retail 60.9 % Office Buildings 13.0 Apartments 7.4 Warehouses 8.6 Senior housing 6.4 Other 3.7 100.0 %
Schedule of mortgage loans by location of properties	Approximately 62.8% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Alabama 10.6 % Texas 9.3 Georgia 7.4 Florida 6.5 Tennessee 6.4 Utah 5.3 North Carolina 4.7 South Carolina 4.5 Ohio 4.2 California 3.9 62.8 %
Schedule of changes in the allowance for mortgage loan credit losses	A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ 5,720 $ 3,130 Charge offs (2,561 ) (861 ) (675 ) Recoveries (638 ) (2,359 ) (2,600 ) Provision 3,199 — 5,865 Ending balance $ — $ 2,500 $ 5,720
Schedule of an analysis of the delinquent loans	An analysis of the delinquent loans is shown in the following chart: 30-59 Days Delinquent 60-89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) Successor Company As of December 31, 2015 Commercial mortgage loans $ 6,002 $ 1,033 $ — $ 7,035 Number of delinquent commercial mortgage loans 6 1 — 7 30-59 Days Delinquent 60-89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) Predecessor Company As of December 31, 2014 Commercial mortgage loans $ 8,972 $ — $ 1,484 $ 10,456 Number of delinquent commercial mortgage loans 4 — 1 5
Schedule of information regarding impaired loans	For information regarding impaired loans, please refer to the following chart: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income (Dollars In Thousands) Successor Company As of December 31, 2015 Commercial mortgage loans: With no related allowance recorded $ 1,694 $ 1,728 $ — $ 847 $ 104 $ 117 With an allowance recorded — — — — — — Recorded Investment Unpaid Related Average Interest Cash Basis (Dollars In Thousands) Predecessor Company As of December 31, 2014 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 19,632 20,603 5,720 3,272 1,224 1,280
Schedule of mortgage loans that were modified in a troubled debt restructuring	Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2014 (Predecessor Company) were as follows: Number of contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) Predecessor Company As of December 31, 2014 Troubled debt restructuring: Commercial mortgage loans 6 $ 28,648 $ 19,593

DEFERRED POLICY ACQUISITION C46

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]
Schedule of balances and changes in DAC	The balances and changes in DAC are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ — $ 2,653,065 $ 2,720,604 Capitalization of commissions, sales, and issue expenses 306,237 22,820 293,672 Amortization (24,699 ) 1,080 (194,517 ) Change in unrealized investment gains and losses 9,959 (96,830 ) (166,694 ) Balance, end of period $ 291,497 $ 2,580,135 $ 2,653,065
Schedule of balances and changes in VOBA	The balances and changes in VOBA are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ 1,278,063 $ 501,981 $ 756,018 Amortization (70,367 ) (5,895 ) (113,803 ) Change in unrealized gains and losses 69,226 (79,417 ) (140,234 ) Other (6,046 ) — — Balance, end of period $ 1,270,876 $ 416,669 $ 501,981
Schedule of estimated amortization of VOBA for the next five years	Based on the balance recorded as of December 31, 2015 (Successor Company), the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2016 $ 131,942 2017 122,210 2018 112,332 2019 96,942 2020 80,542

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill by segment	The changes in the carrying amount of goodwill by segment are as follows: Predecessor Company Acquisitions Asset Protection Total Consolidated (Dollars In Thousands) Balance as of December 31, 2013 $ 32,517 $ 48,158 $ 80,675 Tax benefit of excess tax goodwill (3,098 ) — (3,098 ) Balance as of December 31, 2014 $ 29,419 $ 48,158 $ 77,577

CERTAIN NONTRADITIONAL LONG-D48

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2015
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Schedule of activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)	Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ 23,893 $ 21,695 $ 13,608 $ 19,606 Incurred guarantee benefits 8,285 2,506 10,130 (3,133 ) Less: Paid guarantee benefits 2,247 442 2,043 2,865 Ending balance $ 29,931 $ 23,759 $ 21,695 $ 13,608
Schedule of account balances of variable annuities with guarantees invested in variable annuity separate accounts	Account balances of variable annuities with guarantees invested in variable annuity separate accounts are as follows: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Equity mutual funds $ 5,476,366 $ 7,834,480 Fixed income mutual funds 7,184,528 5,137,312 Total $ 12,660,894 $ 12,971,792
Schedule of activity in the Company's deferred sales inducement asset	Activity in the Company's deferred sales inducement asset was as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 to January 31, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Deferred asset, beginning of period $ — $ 155,150 $ 146,651 $ 143,949 Amounts deferred 14,557 82 18,302 15,274 Amortization (2,801 ) (1,139 ) (9,803 ) (12,572 ) Deferred asset, end of period $ 11,756 $ 154,093 $ 155,150 $ 146,651

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Schedule of net life insurance in-force	The following table presents the net life insurance in-force: Successor Company Predecessor Company As of December 31, As of December 31, 2015 2014 2013 (Dollars In Millions) (Dollars In Millions) Direct life insurance in-force $ 727,705 $ 721,036 $ 726,697 Amounts assumed from other companies 39,547 43,237 46,752 Amounts ceded to other companies (368,142 ) (388,890 ) (416,809 ) Net life insurance in-force $ 399,110 $ 375,383 $ 356,640 Percentage of amount assumed to net 10 % 12 % 13 %
Schedule of effect of reinsurance on life insurance premiums written and earned	The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Premiums and policy fees: Life insurance $ 2,360,643 $ (1,058,706 ) $ 308,280 $ 1,610,217 (1) 19.1 % Accident/health insurance 70,243 (36,871 ) 18,252 51,624 35.4 Property and liability insurance 228,500 (79,294 ) 6,904 156,110 4.4 Total $ 2,659,386 $ (1,174,871 ) $ 333,436 $ 1,817,951 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Premiums and policy fees: Life insurance $ 204,185 $ (80,657 ) $ 28,601 $ 152,129 (1) 18.8 % Accident/health insurance 6,846 (4,621 ) 1,809 4,034 44.8 Property and liability insurance 18,475 (6,354 ) 666 12,787 5.2 Total $ 229,506 $ (91,632 ) $ 31,076 $ 168,950 For The Year Ended December 31, 2014 Premiums and policy fees: Life insurance $ 2,603,956 $ (1,279,908 ) $ 349,934 $ 1,673,982 (1) 20.9 % Accident/health insurance 81,037 (42,741 ) 20,804 59,100 35.2 Property and liability insurance 218,663 (73,094 ) 8,675 154,244 5.6 Total $ 2,903,656 $ (1,395,743 ) $ 379,413 $ 1,887,326 For The Year Ended December 31, 2013 Premiums and policy fees: Life insurance $ 2,371,872 $ (1,299,631 ) $ 306,921 $ 1,379,162 (1) 22.3 % Accident/health insurance 45,262 (20,011 ) 24,291 49,542 49.0 Property and liability insurance 210,999 (67,795 ) 7,977 151,181 5.3 Total $ 2,628,133 $ (1,387,437 ) $ 339,189 $ 1,579,885 (1) Includes annuity policy fees of $77.2 million , $7.7 million , $92.8 million , and $88.7 million for the period of February 1, 2015 to December 31, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 (Predecessor Company) and December 31, 2013 (Predecessor Company), respectively.
Schedule of receivables attributable to more significant reinsurance partners	The following table sets forth the receivables attributable to our more significant reinsurance partners: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) (Dollars In Millions) Security Life of Denver Insurance Company $ 800.6 A $ 842.1 A Swiss Re Life & Health America, Inc. 719.2 A+ 820.9 A+ Lincoln National Life Insurance Co. 546.0 A+ 556.3 A+ Transamerica Life Insurance Co. 396.6 A+ 497.7 A+ RGA Reinsurance Company 303.5 A+ 412.4 A+ SCOR Global Life USA Reinsurance Company 320.4 A 411.8 A American United Life Insurance Company 314.2 A+ 336.1 A+ Scottish Re (U.S.), Inc. 268.6 NR 298.0 NR Centre Reinsurance (Bermuda) Ltd 247.6 NR 260.9 NR Employers Reassurance Corporation 224.4 A- 254.3 A-

DEBT AND OTHER OBLIGATIONS (Tab

DEBT AND OTHER OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Non-recourse funding obligations outstanding	Non-recourse funding obligations outstanding as of December 31, 2015 (Successor Company), on a consolidated basis, are shown in the following table: Issuer Carrying Value (1) Maturity Year Year-to-Date Weighted- Avg Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2) $ 1,148,237 2037 4.66 % Golden Gate II Captive Insurance Company 236,123 2052 1.22 % Golden Gate V Vermont Captive Insurance Company (2) 564,679 2037 5.12 % MONY Life Insurance Company (2) 2,524 2024 6.19 % Total $ 1,951,563 (1) Carrying values include premiums and discounts and do no represent unpaid principal balances. (2) Fixed rate obligations
Schedule of Financial Instruments Owned and Pledged as Collateral	The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2015 (Successor Company): Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2015 (Successor Company) (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 108,875 $ — $ — $ — $ 108,875 State and municipal securities — — — — — Other asset-backed securities — — — — — Corporate securities — — — — — Equity securities — — — — — Non-U.S. sovereign debt — — — — — Mortgage loans 371,002 — — — 371,002 Total borrowings $ 479,877 $ — $ — $ — $ 479,877

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Administrative and marketing office space
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum rental payments required under operating leases	The following is a schedule by year of future minimum rental payments required under these leases: Year Amount (Dollars In Thousands) 2016 $ 4,406 2017 4,042 2018 3,829 2019 3,644 2020 3,600 Thereafter 13,145
Building contiguous to home office
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum rental payments required under operating leases	The following is a schedule by year of future minimum rental payments required under this lease: Year Amount (Dollars In Thousands) 2016 $ 1,385 2017 1,381 2018 76,356

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of performance shares awarded and estimated fair value of the awards at grant date	Performance share awards and the estimated fair value of the awards at grant date are as follows: Year Awarded Performance Shares Estimated Fair Value (Dollars In Thousands) 2014 203,295 $ 10,484 2013 298,500 9,328 2012 306,100 8,608
Schedule of the SARs activity as well as weighted-average base price	The SARs activity as well as weighted-average base price was as follows: Weighted-Average Base Price Per Share No. of SARs Balance at December 31, 2012 $ 22.15 1,641,167 SARs exercised / forfeited 18.54 (336,066 ) Balance at December 31, 2013 $ 23.08 1,305,101 SARs exercised / forfeited 22.07 (1,147,473 ) Balance at December 31, 2014 $ 30.41 157,628
Schedule of outstanding SARs by base prices	The outstanding SARs as of December 31, 2014 (Predecessor Company), were at the following base prices: Base Price SARs Outstanding Remaining Life in Years Currently Exercisable $41.05 10,000 1 10,000 $43.46 22,300 3 22,300 $38.59 52,000 4 52,000 $3.50 46,110 5 46,110 $18.36 27,218 6 27,218
Schedule of equity compensation plans	The following table provides information as of December 31, 2014 (Predecessor Company), regarding equity compensation plans under which the Company's common stock was authorized for issuance: Securities Authorized for Issuance under Equity Compensation Plans Plan category Number of securities to be issued upon exercise of outstanding options, warrants and rights as of December 31, 2014 (a) Weighted-average exercise price of outstanding options, warrants and rights as of December 31, 2014 (b) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) as of of December 31, 2014 (c) Equity compensation plans approved by shareowners 1,960,959 (1) $ 22.07 (3) 4,092,546 (4) Equity compensation plans not approved by shareowners 193,720 (2) Not applicable Not applicable (5) Total 2,154,679 $ 22.07 4,092,546 (1) Includes the following number of shares: (a) 102,458 shares issuable with respect to outstanding SARs (assuming for this purpose that one share of common stock will be payable with respect to each outstanding SAR); (b) 907,487 shares issuable with respect to outstanding performance share awards (assuming for this purpose that the awards are payable based on estimated performance under the awards as of September 30, 2014); (c) 313,199 shares issuable with respect to outstanding restricted stock units (assuming for this purpose that shares will be payable with respect to all outstanding restricted stock units); (d) 475,386 shares issuable with respect to stock equivalents representing previously earned awards under the LTIP that the recipient deferred under PLC's Deferred Compensation Plan for Officers; and (e) 162,429 shares issuable with respect to stock equivalents representing previous awards under PLC's Stock Plan for Non-Employee Directors that the recipient deferred under PLC's Deferred Compensation Plan for Directors Who Are Not Employees of PLC. (2) Includes the following number of shares of common stock: (a) 152,709 shares issuable with respect to stock equivalents representing (i) stock awards to PLC's Directors before June 1, 2004 that the recipient deferred pursuant to PLC's Deferred Compensation Plan for Directors Who Are Not Employees of PLC and (ii) cash retainers and fees that PLC's Directors deferred under the Company's Deferred Compensation Plan for Directors Who Are Not Employees of PLC, and (b) 41,011 shares issuable with respect to stock equivalents pursuant to PLC's Deferred Compensation Plan for Officers. (3) Based on exercise prices of outstanding SARs. (4) Represents shares of common stock available for future issuance under the LTIP and PLC's Stock Plan for Non-Employee Directors. (5) The plans listed in Note (2) do not currently have limits on the number of shares of common stock issuable under such plans. The total number of shares of common stock that may be issuable under such plans will depend upon, among other factors, the deferral elections made by the plans' participants

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2015
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Schedule of benefit obligation, fair value of plan assets and the funded status of the Company's defined benefit pension plan and unfunded excess benefit plan	The following table presents the benefit obligation, fair value of plan assets, funded status, and amounts not yet recognized as components of net periodic pension costs for PLC's defined benefit pension plan and unfunded excess benefit plan as of December 31, 2015 (Successor Company), January 31, 2015 (Predecessor Company), and December 31, 2014 (Predecessor Company): Successor Company Predecessor Company December 31, 2015 January 31, 2015 December 31, 2014 Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) (Dollars In Thousands) Accumulated benefit obligation, end of year $ 250,133 $ 54,196 $ 262,290 $ 49,251 $ 249,453 $ 47,368 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 281,099 $ 51,243 $ 267,331 $ 49,575 $ 219,152 $ 39,679 Service cost 11,220 1,229 974 95 9,411 954 Interest cost 9,072 1,499 1,002 140 10,493 1,696 Amendments — — — — — — Actuarial loss/(gain) (19,235 ) 4,484 12,384 1,555 38,110 9,153 Benefits paid (13,935 ) (1,470 ) (592 ) (122 ) (9,835 ) (1,907 ) Projected benefit obligation at end of year 268,221 56,985 281,099 51,243 267,331 49,575 Change in plan assets: Fair value of plan assets at beginning of year 201,820 — 203,772 — 180,173 — Actual return on plan assets 6,751 — (3,525 ) — 17,921 — Employer contributions (1) 1,406 1,470 2,165 122 15,513 1,907 Benefits paid (13,935 ) (1,470 ) (592 ) (122 ) (9,835 ) (1,907 ) Fair value of plan assets at end of year 196,042 — 201,820 — 203,772 — After reflecting FASB guidance: Funded status (72,179 ) (56,985 ) (79,279 ) (51,243 ) (63,559 ) (49,575 ) Amounts recognized in the balance sheet: Other liabilities (72,179 ) (56,985 ) (79,279 ) (51,243 ) (63,559 ) (49,575 ) Amounts recognized in accumulated other comprehensive income: Net actuarial loss/(gain) (12,772 ) 4,484 96,965 22,401 80,430 20,983 Prior service cost/(credit) — — (1,001 ) 23 (1,033 ) 24 Total amounts recognized in AOCI $ (12,772 ) $ 4,484 $ 95,964 $ 22,424 $ 79,397 $ 21,007 (1) Employer contributions disclosed are based on the Company's fiscal filing year
Schedule of weighted-average assumptions used to determine benefit obligations	Weighted-average assumptions used to determine benefit obligations as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) are as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 Defined Benefit Unfunded Excess Defined Benefit Unfunded Excess Discount rate 4.29 % 3.63 % 3.95 % 3.65 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above The benefit obligations as of January 31 were determined based on the assumptions used in the 2014 year end disclosures with the following exception: Predecessor Company Defined Benefit Unfunded Excess Discount rate 3.55 % 3.26 %
Schedule of weighted-average assumptions used to determine the net periodic benefit cost	Weighted-average assumptions used to determine the net periodic benefit cost for the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company) are as follows: Successor Company Predecessor Company For The Year Ended December 31, For The Year Ended December 31, 2015 2015 2014 2013 2014 2013 Defined Benefit Unfunded Excess Benefit Plan Defined Benefit Unfunded Excess Discount rate 3.95 % 3.65 % 4.86 % 4.07 % 4.30 % 3.37 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 3.0 3.0 4.0 4.0 Expected long-term return on plan assets 7.5 N/A 7.5 7.5 N/A N/A
Components of the net periodic benefit cost of PLC's defined benefit pension plan and unfunded excess benefit plan	Components of the net periodic benefit cost for the period of February 1, 2015 to December 31, 2015 (Successor Company), for the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the years ended December 31, 2014 and 2013 (Predecessor Company) are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 2014 2013 Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) (Dollars In Thousands) Service cost — benefits earned during the period $ 11,220 $ 1,229 $ 974 $ 95 $ 9,411 $ 9,345 $ 954 $ 1,037 Interest cost on projected benefit obligation 9,072 1,499 1,002 140 10,493 8,985 1,696 1,387 Expected return on plan assets (13,214 ) — (1,293 ) — (12,166 ) (11,013 ) — — Amortization of prior service cost/(credit) — — (33 ) 1 (392 ) (392 ) 12 12 Amortization of actuarial losses (1) — — 668 138 6,821 9,631 1,516 1,792 Preliminary net periodic benefit cost 7,078 2,728 1,318 374 14,167 16,556 4,178 4,228 Settlement/curtailment expense (2) — — — — — — — 928 Total net periodic benefit cost $ 7,078 $ 2,728 $ 1,318 $ 374 $ 14,167 $ 16,556 $ 4,178 $ 5,156 (1) 2015 average remaining service period used is 9.38 years and 7.96 years for the defined benefit pension plan and unfunded excess benefit plan, respectively. (2) The unfunded excess benefit plan triggered settlement accounting for the year ended December 31, 2013 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost.
Schedule of allocation of plan assets by category	Allocation of plan assets of the defined benefit pension plan by category as of December 31 are as follows: Successor Company Predecessor Company Asset Category Target 2015 2014 Cash and cash equivalents 2 % 2 % 4 % Equity securities 60 61 62 Fixed income 38 37 34 Total 100 % 100 % 100 %
Schedule of fair value of plan assets by category	Plan assets of the defined benefit pension plan by category as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) are as follows: Successor Company Predecessor Company Asset Category As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Cash and cash equivalents $ 3,121 $ 7,968 Equity securities: Collective Russell 3000 equity index fund 72,663 79,660 Fidelity Spartan 500 index fund 52,551 51,848 Fixed income 67,707 64,296 Total investments 196,042 203,772 Employer contribution receivable — 2,165 Total $ 196,042 $ 205,937
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Collective short-term investment fund $ 3,121 $ — $ — $ 3,121 Collective investment funds: Equity index funds 52,551 72,663 — 125,214 Group deposit administration annuity contract — — 67,707 67,707 Total investments $ 55,672 $ 72,663 $ 67,707 $ 196,042 The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Collective short-term investment fund $ 7,968 $ — $ — $ 7,968 Collective investment funds: Equity index funds 51,848 79,660 — 131,508 Group deposit administration annuity contract — — 64,296 64,296 Total investments $ 59,816 $ 79,660 $ 64,296 $ 203,772
Summary of Plan investments measured at fair value based on NAV per share	The following table summarizes the Plan investments measured at fair value based on NAV per share as of December 31, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), respectively: Name Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period (Dollars In Thousands) Successor Company As of December 31, 2015 Collective short-term investment fund $ 3,121 Not Applicable Daily 1 day Collective Russell 3000 index fund (1) 72,663 Not Applicable Daily 1 day Fidelity Spartan 500 index fund 52,551 Not Applicable Daily 1 day Predecessor Company As of December 31, 2014 Collective short-term investment fund $ 7,968 Not Applicable Daily 1 day Collective Russell 3000 index fund (1) 79,660 Not Applicable Daily 1 day Fidelity Spartan 500 index fund 51,848 Not Applicable Daily 1 day (1) Non-lending collective trust that does not publish a daily NAV but tracks the Russell 3000 index and provides a daily NAV to the Plan.
Reconciliation of the beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) have been used	The following table presents a reconciliation of the beginning and ending balances for the fair value measurements for the period of February 1, 2015 to December 31, 2015, for the period of January 1, 2015 to January 31, 2015, and for the year ended December 31, 2014, for which PLC has used significant unobservable inputs (Level 3): Successor Company Predecessor Company December 31, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of year $ 64,581 $ 64,296 $ 56,736 Interest income 3,126 285 3,060 Transfers from collective short-term investments fund — — 4,500 Transfers to collective short-term investments fund — — — Balance, end of year $ 67,707 $ 64,581 $ 64,296
Schedule of Plan's Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input	The following table represents the Plan’s Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input as of December 31, 2015 (Successor Company): Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 67,707 Contract Value Contract Rate 5.22% - 5.41%
Schedule of estimated future benefit payments under defined benefit pension plan	Estimated future benefit payments under the defined benefit pension plan and unfunded excess benefit plan are as follows: Years Defined Benefit Pension Plan Unfunded Excess Benefit Plan (Dollars In Thousands) 2016 $ 16,947 $ 5,470 2017 18,019 7,682 2018 17,723 5,070 2019 18,517 9,097 2020 19,532 4,962 2021-2025 102,176 18,888
Retiree medical plan
EMPLOYEE BENEFIT PLANS
Schedule of accumulated postretirement benefit obligation	The change in the benefit obligation for the retiree medical plan is as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 247 $ 447 Service cost 1 2 Interest cost 2 4 Actuarial (gain)/loss (113 ) 30 Plan participant contributions 141 254 Benefits paid (141 ) (490 ) Benefit obligation, end of year $ 137 $ 247
Group life insurance plan
EMPLOYEE BENEFIT PLANS
Schedule of fair value of plan assets by category	The fair value of each major category of plan assets for PLC’s postretirement life insurance plan is as follows: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Category of Investment Money market fund $ 5,653 $ 5,925
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,653 $ — $ — $ 5,653 The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,925 $ — $ — $ 5,925
Schedule of accumulated postretirement benefit obligation	The accumulated postretirement benefit obligation associated with these benefits is as follows: Successor Company Predecessor Company As of December 31, 2015 As of January 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 9,781 $ 9,288 $ 8,653 Service cost 138 12 97 Interest cost 336 39 416 Actuarial (gain)/loss (894 ) 511 694 Benefits paid (298 ) (69 ) (572 ) Benefit obligation, end of year $ 9,063 $ 9,781 $ 9,288

ACCUMULATED OTHER COMPREHENSI54

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Summary of changes in the accumulated balances for each component of accumulated other comprehensive income (loss)	The following table summarizes the changes in the accumulated balances for each component of AOCI as of December 31, 2015 (Successor Company), January 31, 2015 (Predecessor Company), December 31, 2014 (Predecessor Company), and December 31, 2013 (Predecessor Company). Changes in Accumulated Other Comprehensive Income (Loss) by Component Successor Company Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, February 1, 2015 $ — $ — $ — Other comprehensive income (loss) before reclassifications (1,263,367 ) (86 ) (1,263,453 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (393 ) — (393 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 17,369 86 17,455 Net current-period other comprehensive income (loss) (1,246,391 ) — (1,246,391 ) Ending Balance, December 31, 2015 $ (1,246,391 ) $ — $ (1,246,391 ) (1) See Reclassification table below for details. (2) As of December 31, 2015 (Successor Company), net unrealized losses reported in AOCI were offset by $623.0 million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Predecessor Company Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2014 $ 1,483,293 $ (82 ) $ 1,483,211 Other comprehensive income (loss) before reclassifications 482,143 9 482,152 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (243 ) — (243 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (4,166 ) 23 (4,143 ) Net current-period other comprehensive income (loss) 477,734 32 477,766 Ending Balance January 31, 2015 $ 1,961,027 $ (50 ) $ 1,960,977 (1) See Reclassification table below for details. (2) As of January 31, 2015 and December 31, 2014, net unrealized losses reported in AOCI were offset by $(492.6) million and $(504.4) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2013 $ 540,201 $ (1,235 ) $ 538,966 Other comprehensive income (loss) before reclassifications 983,985 (2 ) 983,983 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 3,498 — 3,498 Amounts reclassified from accumulated other comprehensive income (loss) (1) (44,391 ) 1,155 (43,236 ) Net current-period other comprehensive income (loss) 943,092 1,153 944,245 Ending Balance, December 31, 2014 $ 1,483,293 $ (82 ) $ 1,483,211 (1) See Reclassification table below for details. (2) As of December 31, 2014 and 2013, net unrealized losses reported in AOCI were offset by $(504.4) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income . Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Beginning Balance, December 31, 2012 $ 1,814,620 $ (3,496 ) $ 1,811,124 Other comprehensive income (loss) before reclassifications (1,250,416 ) 734 (1,249,682 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 4,591 — 4,591 Amounts reclassified from accumulated other comprehensive income (loss) (1) (28,594 ) 1,527 (27,067 ) Net current-period other comprehensive income (loss) (1,274,419 ) 2,261 (1,272,158 ) Ending Balance, December 31, 2013 $ 540,201 $ (1,235 ) $ 538,966 (1) See Reclassification table below for details. (2) As of December 31, 2012 and 2013, net unrealized losses reported in AOCI were offset by $(204.8) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income .
Schedule of reclassifications amounts out of AOCI	The following table summarizes the reclassifications amounts out of AOCI for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company). Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (131 ) Benefits and settlement expenses, net of reinsurance ceded (131 ) Total before tax 45 Tax (expense) or benefit $ (86 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 271 Realized investment gains (losses): All other investments Impairments recognized in earnings (26,992 ) Net impairment losses recognized in earnings (26,721 ) Total before tax 9,352 Tax (expense) or benefit $ (17,369 ) Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (36 ) Benefits and settlement expenses, net of reinsurance ceded (36 ) Total before tax 13 Tax (expense) or benefit $ (23 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 6,891 Realized investment gains (losses): All other investments Impairments recognized in earnings (481 ) Net impairment losses recognized in earnings 6,410 Total before tax (2,244 ) Tax (expense) or benefit $ 4,166 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (1,777 ) Benefits and settlement expenses, net of reinsurance ceded (1,777 ) Total before tax 622 Tax (expense) or benefit $ (1,155 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 75,569 Realized investment gains (losses): All other investments Impairments recognized in earnings (7,275 ) Net impairment losses recognized in earnings 68,294 Total before tax (23,903 ) Tax (expense) or benefit $ 44,391 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2013 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ (2,349 ) Benefits and settlement expenses, net of reinsurance ceded (2,349 ) Total before tax 822 Tax (expense) or benefit $ (1,527 ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains/losses $ 66,437 Realized investment gains (losses): All other investments Impairments recognized in earnings (22,447 ) Net impairment losses recognized in earnings 43,990 Total before tax (15,396 ) Tax (expense) or benefit $ 28,594 Net of tax (1) See Note 23, Derivative Financial Instruments for additional information.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of reconciliation of effective income tax rate related to continuing operations	The Company’s effective income tax rate related to continuing operations varied from the maximum federal income tax rate as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 Statutory federal income tax rate applied to pre-tax income 35.0 % 35.0 % 35.0 % 35.0 % State income taxes 1.4 0.5 0.5 0.4 Investment income not subject to tax (6.8 ) (2.8 ) (2.7 ) (4.4 ) Uncertain tax positions — — 0.5 0.1 Other (0.3 ) 0.7 0.1 (0.1 ) 29.3 % 33.4 % 33.4 % 31.0 %
Schedule of components of income tax	The components of the Company’s income tax are as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Current income tax expense: Federal $ 50,722 $ (48,469 ) $ 176,238 $ (18,076 ) State (4,000 ) 1,085 5,525 (222 ) Total current $ 46,722 $ (47,384 ) $ 181,763 $ (18,298 ) Deferred income tax expense: Federal $ 18,880 $ 90,774 $ 65,566 $ 149,288 State 8,889 935 (491 ) (93 ) Total deferred $ 27,769 $ 91,709 $ 65,075 $ 149,195
Schedule of components of the Company's net deferred income tax liability	The components of the Company’s net deferred income tax liability are as follows: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Deferred income tax assets: Premium receivables and policy liabilities $ — $ 154,720 Loss and credit carryforwards 115,667 35,642 Deferred compensation 108,416 104,117 Invested assets (other than unrealized gains) — 2,960 Deferred policy acquisition costs 267,542 — Premium on non-recourse funding obligations 13,872 — Net unrealized loss on investments 671,176 — Other 6,605 — Valuation allowance (3,466 ) (791 ) 1,179,812 296,648 Deferred income tax liabilities: Premium receivables and policy liabilities 202,753 — VOBA and other intangibles 632,176 — DAC and VOBA — 1,073,499 Invested assets (other than unrealized gains (losses)) 1,560,063 — Net unrealized gains (losses) on investments — 798,529 Other — 36,484 2,394,992 1,908,512 Net deferred income tax liability $ (1,215,180 ) $ (1,611,864 )
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Successor Company Predecessor Company February 1, 2015 January 1, 2015 As of December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ 105,850 $ 168,076 $ 85,846 $ 74,335 Additions for tax positions of the current year 2,213 (5,010 ) 57,392 7,464 Additions for tax positions of prior years 1,812 1,149 34,371 6,787 Reductions of tax positions of prior years: Changes in judgment (644 ) (58,365 ) (9,533 ) (2,740 ) Settlements during the period (100,294 ) — — — Lapses of applicable statute of limitations — — — — Balance, end of period $ 8,937 $ 105,850 $ 168,076 $ 85,846

SUPPLEMENTAL CASH FLOW INFORM56

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	The following table sets forth supplemental cash flow information: Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Cash paid / (received) during the year: Interest expense $ 98,232 21,567 $ 117,776 $ 110,301 Income taxes (75,869 ) (1 ) 159,724 (54,370 )

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of balances from related party's balance sheet	The following balances from Shades Creek’s balance sheet as of March 31, 2013 with the exception of cash, were excluded from the Company’s cash flow statement for the year ended December 31, 2013 (Predecessor Company): As of March 31, 2013 (Dollars In Thousands) Assets Other long-term investments $ 34,093 Short-term investments 745 Total investments 34,838 Cash 44,963 Accounts and premiums receivable 16,036 Deferred policy acquisition cost 123,847 Other assets 48,953 Total assets $ 268,637 Liabilities Future policy benefits and claims $ 1,626 Other liabilities 178,321 Deferred income taxes 2,459 Total liabilities 182,406 Total equity 86,231 Total liabilities and equity $ 268,637

STATUTORY REPORTING PRACTICES58

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2015
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Schedule of favorable (unfavorable) effects of the Company's statutory surplus, compared to NAIC statutory surplus	The favorable (unfavorable) effects of the Company’s statutory surplus, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2015 2014 (Dollars In Millions) Non-admission of goodwill $ (295 ) $ (310 ) Total (net) $ (295 ) $ (310 )
Schedule of favorable (unfavorable) effects on the statutory surplus of the Company's insurance subsidiaries, compared to NAIC statutory surplus	The favorable (unfavorable) effects on the statutory surplus of the Company’s insurance subsidiaries, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2015 2014 (Dollars In Millions) Accounting for Letters of Credit as admitted assets $ 1,715 $ 1,735 Accounting for Red Mountain Note as admitted asset $ 500 $ 435 Reserving based on state specific actuarial practices $ 117 $ 112 Reserving difference related to a captive insurance company $ (118 ) $ (87 )

FAIR VALUE OF FINANCIAL INSTR59

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 1,765,270 $ 3 $ 1,765,273 Commercial mortgage-backed securities — 1,285,864 — 1,285,864 Other asset-backed securities — 210,020 587,031 797,051 U.S. government-related securities 1,054,353 477,824 — 1,532,177 State, municipalities, and political subdivisions — 1,603,600 — 1,603,600 Other government-related securities — 17,740 — 17,740 Corporate securities 83 24,876,455 902,119 25,778,657 Preferred stock 43,073 19,614 — 62,687 Total fixed maturity securities - available-for-sale 1,097,509 30,256,387 1,489,153 32,843,049 Fixed maturity securities - trading Residential mortgage-backed securities — 286,658 — 286,658 Commercial mortgage-backed securities — 146,743 — 146,743 Other asset-backed securities — 122,511 152,912 275,423 U.S. government-related securities 233,592 4,755 — 238,347 State, municipalities, and political subdivisions — 313,354 — 313,354 Other government-related securities — 58,827 — 58,827 Corporate securities — 1,322,276 18,225 1,340,501 Preferred stock 2,794 1,402 — 4,196 Total fixed maturity securities - trading 236,386 2,256,526 171,137 2,664,049 Total fixed maturity securities 1,333,895 32,512,913 1,660,290 35,507,098 Equity securities 620,358 13,063 66,504 699,925 Other long-term investments (1) 113,699 141,487 68,384 323,570 Short-term investments 261,659 2,178 — 263,837 Total investments 2,329,611 32,669,641 1,795,178 36,794,430 Cash 212,358 — — 212,358 Assets related to separate accounts Variable annuity 12,829,188 — — 12,829,188 Variable universal life 827,610 — — 827,610 Total assets measured at fair value on a recurring basis $ 16,198,767 $ 32,669,641 $ 1,795,178 $ 50,663,586 Liabilities: Annuity account balances (2) $ — $ — $ 92,512 $ 92,512 Other liabilities (1) 40,067 106,310 375,848 522,225 Total liabilities measured at fair value on a recurring basis $ 40,067 $ 106,310 $ 468,360 $ 614,737 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 1,418,255 $ 3 $ 1,418,258 Commercial mortgage-backed securities — 1,177,252 — 1,177,252 Other asset-backed securities — 275,415 563,961 839,376 U.S. government-related securities 1,165,188 263,707 — 1,428,895 State, municipalities, and political subdivisions — 1,684,014 3,675 1,687,689 Other government-related securities — 20,172 — 20,172 Corporate securities 132 26,039,963 1,325,683 27,365,778 Total fixed maturity securities - available-for-sale 1,165,320 30,878,778 1,893,322 33,937,420 Fixed maturity securities - trading Residential mortgage-backed securities — 288,114 — 288,114 Commercial mortgage-backed securities — 151,111 — 151,111 Other asset-backed securities — 105,118 169,461 274,579 U.S. government-related securities 245,563 4,898 — 250,461 State, municipalities, and political subdivisions — 325,446 — 325,446 Other government-related securities — 57,032 — 57,032 Corporate securities — 1,447,333 24,744 1,472,077 Total fixed maturity securities - trading 245,563 2,379,052 194,205 2,818,820 Total fixed maturity securities 1,410,883 33,257,830 2,087,527 36,756,240 Equity securities 590,832 99,267 66,691 756,790 Other long-term investments (1) 119,997 106,079 44,625 270,701 Short-term investments 243,436 3,281 — 246,717 Total investments 2,365,148 33,466,457 2,198,843 38,030,448 Cash 268,286 — — 268,286 Assets related to separate accounts Variable annuity 13,157,429 — — 13,157,429 Variable universal life 834,940 — — 834,940 Total assets measured at fair value on a recurring basis $ 16,625,803 $ 33,466,457 $ 2,198,843 $ 52,291,103 Liabilities: Annuity account balances (2) $ — $ — $ 97,825 $ 97,825 Other liabilities (1) 62,146 61,046 506,343 629,535 Total liabilities measured at fair value on a recurring basis $ 62,146 $ 61,046 $ 604,168 $ 727,360 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments	The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Predecessor Company Fair Value As of December 31, 2014 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 563,752 Discounted cash flow Liquidity premium 0.39% - 1.49% (0.69%) Paydown rate 9.70% - 15.80% (12.08%) Corporate securities 1,282,864 Discounted cash flow Spread over treasury 0.33% - 7.50% (2.19%) Liabilities: Embedded derivatives—GMWB (1) $ 25,927 Actuarial cash flow model Mortality 44.5% to 100% of 1994 MGDB table Lapse 0.25% - 17%, depending on product/duration/funded status of guarantee Utilization 97% - 101% Nonperformance risk 0.12% - 0.96% Annuity account balances (2) 97,825 Actuarial cash flow model Asset earned rate 3.86% - 5.92% Expenses $88 - $102 per policy Withdrawal rate 2.20% Mortality 49% to 80% of 1994 MGDB table Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.12% - 0.96% Embedded derivative—FIA 124,465 Actuarial cash flow model Expenses $83 - $97 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 49% to 80% of 1994 MGDB table Lapse 2.2% - 40.0%, depending on duration/surrender charge period Nonperformance risk 0.12% - 0.96% Embedded derivative - IUL 6,691 Actuarial cash flow model Mortality 37% - 74% of 2008 VBT Primary Tables Lapse 0.5% - 10%, depending on duration/distribution channel and smoking class Nonperformance risk 0.12% - 0.96% (1) The fair value for the GMWB embedded derivative is presented as a net asset. Excludes modified coinsurance arrangements. (2) Represents liabilities related to fixed indexed annuities. The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Successor Company Fair Value As of December 31, 2015 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 587,031 Discounted cash flow Liquidity premium 0.27% - 1.49% (0.42%) Paydown rate 10.20% - 14.72% (13.11%) Corporate securities 875,810 Discounted cash flow Spread over treasury 0.10% - 19.00% (2.61%) Liabilities: Embedded derivatives—GMWB (1) $ 18,511 Actuarial cash flow model Mortality 1994 MGDB table with company experience Lapse 0.3% - 15%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.18% - 1.04% Annuity account balances (2) 92,512 Actuarial cash flow model Asset earned rate 4.53% - 5.67% Expenses $81 per policy Withdrawal rate 2.20% Mortality 1994 MGDB table with company experience Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.18% - 1.04% Embedded derivative—FIA 100,329 Actuarial cash flow model Expenses $81.50 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 1994 MGDB table with company experience Lapse 2.5% - 40.0%, depending on duration/surrender charge period Nonperformance risk 0.18% - 1.04% Embedded derivative—IUL 29,629 Actuarial cash flow model Mortality 38% - 153% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.18% - 1.04% (1) The fair value for the GMWB embedded derivative is presented as a net liability. Excludes modified coinsurance agreements. (2) Represents liabilities related to fixed indexed annuities.
Schedule of reconciliation of the beginning and ending balances for fair value measurements, for which the Company has used significant unobservable inputs (Level 3)	The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2014 (Predecessor Company), for which the Company has used significant unobservable inputs (Level 3): Total Realized and Unrealized Gains Total Realized and Unrealized Losses Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date Beginning Balance Included in Earnings Included in Other Comprehensive Income Included in Earnings Included in Other Comprehensive Income Purchases Sales Issuances Settlements Transfers in/out of Level 3 Other Ending Balance (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ 28 $ — $ — $ — $ (1 ) $ — $ (24 ) $ — $ — $ — $ — $ 3 $ — Commercial mortgage-backed securities — — — — — — — — — — — Other asset-backed securities 545,808 — 36,395 (248 ) (8,033 ) — (10,064 ) — — — 103 563,961 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions 3,675 — — — — — — — — — — 3,675 — Other government-related securities — — — — — — — — — — — — — Corporate securities 1,549,940 1,183 67,955 (2 ) (33,553 ) 139,029 (226,073 ) — — (162,236 ) (10,560 ) 1,325,683 — Total fixed maturity securities - available-for-sale 2,099,451 1,183 104,350 (250 ) (41,587 ) 139,029 (236,161 ) — — (162,236 ) (10,457 ) 1,893,322 — Fixed maturity securities - trading Residential mortgage-backed securities — 11 — — — 842 — — — (853 ) — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 194,977 9,507 — (5,508 ) — — (30,462 ) — — — 947 169,461 1,083 U.S. government-related securities — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 29,199 1,294 — (1,098 ) — 5,839 (10,770 ) — — 4 276 24,744 (121 ) Total fixed maturity securities - trading 224,176 10,812 — (6,606 ) — 6,681 (41,232 ) — — (849 ) 1,223 194,205 962 Total fixed maturity securities 2,323,627 11,995 104,350 (6,856 ) (41,587 ) 145,710 (277,393 ) — — (163,085 ) (9,234 ) 2,087,527 962 Equity securities 67,979 — 1,192 — (261 ) 9,551 (1,119 ) — — (10,651 ) — 66,691 — Other long-term investments (1) 98,886 4,979 — (59,240 ) — — — — — — — 44,625 (54,261 ) Short-term investments — — — — — — — — — — — — — Total investments 2,490,492 16,974 105,542 (66,096 ) (41,848 ) 155,261 (278,512 ) — — (173,736 ) (9,234 ) 2,198,843 (53,299 ) Total assets measured at fair value on a recurring basis $ 2,490,492 $ 16,974 $ 105,542 $ (66,096 ) $ (41,848 ) $ 155,261 $ (278,512 ) $ — $ — $ (173,736 ) $ (9,234 ) $ 2,198,843 $ (53,299 ) Liabilities: Annuity account balances(2) $ 107,000 $ — $ — $ (4,307 ) $ — $ — $ — $ 685 $ 14,167 $ — $ — $ 97,825 $ — Other liabilities(1) 233,738 22,547 — (295,152 ) — — — — — — — 506,343 (272,605 ) Total liabilities measured at fair value on a recurring basis $ 340,738 $ 22,547 $ — $ (299,459 ) $ — $ — $ — $ 685 $ 14,167 $ — $ — $ 604,168 $ (272,605 ) (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the period of February 1, 2015 to December 31, 2015 (Successor Company), for which the Company has used significant unobservable inputs (Level 3): Total Realized and Unrealized Gains Total Realized and Unrealized Losses Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date Beginning Balance Included in Earnings Included In Other Comprehensive Income Included in Earnings Included in Other Comprehensive Income Purchases Sales Issuances Settlements Transfers in/out of Level 3 Other Ending Balance (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ 3 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 3 $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 603,646 — 11,040 (92 ) (17,076 ) — (9,677 ) — — — (810 ) 587,031 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions 3,675 — — — — — (3,675 ) — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 1,307,259 4,367 24,490 (963 ) (52,898 ) 199,924 (407,052 ) — — (164,588 ) (8,420 ) 902,119 — Total fixed maturity securities - available-for-sale 1,914,583 4,367 35,530 (1,055 ) (69,974 ) 199,924 (420,404 ) — — (164,588 ) (9,230 ) 1,489,153 — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 169,473 6,260 — (7,967 ) — 2,000 (15,154 ) — — (1,982 ) 282 152,912 (5,804 ) U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 25,130 501 — (1,407 ) — — (5,805 ) — — — (194 ) 18,225 (1,430 ) Total fixed maturity securities - trading 194,603 6,761 — (9,374 ) — 2,000 (20,959 ) — — (1,982 ) 88 171,137 (7,234 ) Total fixed maturity securities 2,109,186 11,128 35,530 (10,429 ) (69,974 ) 201,924 (441,363 ) — — (166,570 ) (9,142 ) 1,660,290 (7,234 ) Equity securities 66,691 — 44 — — — (231 ) — — — — 66,504 — Other long-term investments (1) 64,200 52,792 — (48,608 ) — — — — — — — 68,384 4,184 Short-term investments — — — — — — — — — — — — — Total investments 2,240,077 63,920 35,574 (59,037 ) (69,974 ) 201,924 (441,594 ) — — (166,570 ) (9,142 ) 1,795,178 (3,050 ) Total assets measured at fair value on a recurring basis $ 2,240,077 $ 63,920 $ 35,574 $ (59,037 ) $ (69,974 ) $ 201,924 $ (441,594 ) $ — $ — $ (166,570 ) $ (9,142 ) $ 1,795,178 $ (3,050 ) Liabilities: Annuity account balances (2) $ 98,279 $ — $ — $ (6,156 ) $ — $ — $ — $ 368 $ 12,291 $ — $ — $ 92,512 $ — Other liabilities (1) 530,118 278,171 — (123,901 ) — — — — — — — 375,848 154,270 Total liabilities measured at fair value on a recurring basis $ 628,397 $ 278,171 $ — $ (130,057 ) $ — $ — $ — $ 368 $ 12,291 $ — $ — $ 468,360 $ 154,270 (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the period of January 1, 2015 to January 31, 2015 (Predecessor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date Total Realized and Unrealized Gains Total Realized and Unrealized Losses Beginning Balance Included in Earnings Included in Other Comprehensive Income Included in Earnings Included in Other Comprehensive Income Purchases Sales Issuances Settlements Transfers in/out of Level 3 Other Ending Balance (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ 3 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 3 $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 563,961 — — — (3,867 ) — (32 ) — — 43,205 379 603,646 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions 3,675 — — — — — — — — — — 3,675 — Other government-related securities — — — — — — — — — — — — — Corporate securities 1,325,683 — 12,282 — (23,029 ) — (7,062 ) — — — (615 ) 1,307,259 — Total fixed maturity securities— available-for-sale 1,893,322 — 12,282 — (26,896 ) — (7,094 ) — — 43,205 (236 ) 1,914,583 — Fixed maturity securities—trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 169,461 586 — (139 ) — — (472 ) — — — 37 169,473 447 U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 24,744 602 — (196 ) — — (20 ) — — — — 25,130 406 Total fixed maturity securities—trading 194,205 1,188 — (335 ) — — (492 ) — — — 37 194,603 853 Total fixed maturity securities 2,087,527 1,188 12,282 (335 ) (26,896 ) — (7,586 ) — — 43,205 (199 ) 2,109,186 853 Equity securities 66,691 — — — — — — — — — — 66,691 — Other long-term investments (1) 44,625 16,617 — (15,166 ) — — — — — — — 46,076 1,451 Short-term investments — — — — — — — — — — — — — Total investments 2,198,843 17,805 12,282 (15,501 ) (26,896 ) — (7,586 ) — — 43,205 (199 ) 2,221,953 2,304 Total assets measured at fair value on a recurring basis $ 2,198,843 $ 17,805 $ 12,282 $ (15,501 ) $ (26,896 ) $ — $ (7,586 ) $ — $ — $ 43,205 $ (199 ) $ 2,221,953 $ 2,304 Liabilities: Annuity account balances (2) $ 97,825 $ — $ — $ (536 ) $ — $ — $ — $ 7 $ 419 $ — $ — $ 97,949 $ — Other liabilities (1) 506,343 61 — (125,995 ) — — — — — — — 632,277 (125,934 ) Total liabilities measured at fair value on a recurring basis $ 604,168 $ 61 $ — $ (126,531 ) $ — $ — $ — $ 7 $ 419 $ — $ — $ 730,226 $ (125,934 ) (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of the carrying amounts and estimated fair value of the Company's financial instruments	The carrying amounts and estimated fair values of the Company’s financial instruments as of the periods shown below are as follows: Successor Company Predecessor Company As of As of December 31, 2015 December 31, 2014 Fair Value Level Carrying Amounts Fair Values Carrying Amounts Fair Values (Dollars In Thousands) (Dollars In Thousands) Assets: Mortgage loans on real estate 3 $ 5,662,812 $ 5,529,803 $ 5,133,780 $ 5,524,059 Policy loans 3 1,699,508 1,699,508 1,758,237 1,758,237 Fixed maturities, held-to-maturity (1) 3 593,314 515,000 435,000 458,422 Liabilities: Stable value product account balances 3 $ 2,131,822 $ 2,124,712 $ 1,959,488 $ 1,973,624 Annuity account balances 3 10,719,862 10,274,571 10,950,729 10,491,775 Debt: Non-recourse funding obligations (2) 3 $ 1,951,563 $ 1,621,773 $ 1,527,752 $ 1,753,183 Except as noted below, fair values were estimated using quoted market prices. (1) Security purchased from unconsolidated subsidiary, Red Mountain LLC. (2) Of this carrying amount $500.0 million , fair value of $495.5 million , as of December 31, 2015 (Successor Company) and $435.0 million , fair value of $461.4 million , as of December 31, 2014 (Predecessor Company), relates to non-recourse funding obligations issued by Golden Gate V.

DERIVATIVE FINANCIAL INSTRUME60

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of realized investment gains (losses) - derivative financial instruments	The following table sets forth realized investments gains and losses for the periods shown: Realized investment gains (losses) - derivative financial instruments Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Derivatives related to variable annuity contracts: Interest rate futures - VA $ (14,818 ) $ 1,413 $ 27,801 $ (31,216 ) Equity futures - VA (5,033 ) 9,221 (26,104 ) (52,640 ) Currency futures - VA 7,169 7,778 14,433 (469 ) Variance swaps - VA — — (744 ) (11,310 ) Equity options - VA (27,733 ) 3,047 (41,216 ) (95,022 ) Volatility options - VA — — — (115 ) Interest rate swaptions - VA (13,354 ) 9,268 (22,280 ) 1,575 Interest rate swaps - VA (85,942 ) 122,710 214,164 (157,408 ) Embedded derivative - GMWB 6,512 (68,503 ) (119,844 ) 162,737 Funds withheld derivative 30,117 (9,073 ) 47,792 71,862 Total derivatives related to VA contracts (103,082 ) 75,861 94,002 (112,006 ) Derivatives related to FIA contracts: Embedded derivative - FIA (738 ) 1,769 (16,932 ) (942 ) Equity futures - FIA (355 ) (184 ) 870 173 Volatility futures - FIA 5 — 20 (5 ) Equity options - FIA 1,211 (2,617 ) 9,906 1,866 Total derivatives related to FIA contracts 123 (1,032 ) (6,136 ) 1,092 Derivatives related to IUL contracts: Embedded derivative - IUL (614 ) (486 ) (8 ) — Equity futures - IUL 144 3 15 — Equity options - IUL (540 ) (115 ) 150 — Total derivatives related to IUL contracts (1,010 ) (598 ) 157 — Embedded derivative - Modco reinsurance treaties 166,092 (68,026 ) (105,276 ) 205,176 Interest rate swaps — — — 2,985 Derivatives with PLC (1) (3,778 ) 15,863 4,085 (15,072 ) Other derivatives 91 (37 ) (324 ) (14 ) Total realized gains (losses) - derivatives $ 58,436 $ 22,031 $ (13,492 ) $ 82,161 (1)These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
Schedule of realized investment gains (losses) - all other investments	The following table sets forth realized investments gains and losses for the Modco trading portfolio that is included in realized investment gains (losses) — all other investments: Realized investment gains (losses) - all other investments Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Modco trading portfolio (1) $ (167,359 ) $ 73,062 $ 142,016 $ (178,134 ) (1)The Company elected to include the use of alternate disclosures for trading activities.
Schedule of gain (loss) on derivatives in cash flow hedging relationship	The following tables present the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship: Gain (Loss) on Derivatives in Cash Flow Relationship Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Effective Portion) (Ineffective Portion) Benefits and settlement expenses Realized investment gains (losses) (Effective Portion) (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Inflation $ (131 ) $ (131 ) $ 73 Total $ (131 ) $ (131 ) $ 73 Predecessor Company January 1, 2015 to January 31, 2015 Inflation $ 13 $ (36 ) $ (7 ) Total $ 13 $ (36 ) $ (7 ) Predecessor Company For The Year Ended December 31, 2014 Inflation $ (4 ) $ (1,777 ) $ (223 ) Total $ (4 ) $ (1,777 ) $ (223 ) Predecessor Company For The Year Ended December 31, 2013 Inflation $ 1,130 $ (2,349 ) $ (190 ) Total $ 1,130 $ (2,349 ) $ (190 )
Notional amounts and fair values of derivative financial instruments	The table below presents information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated financial statements for the periods presented below: Successor Company Predecessor Company As of December 31, 2015 As of December 31, 2014 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Derivatives not designated as hedging instruments: Interest rate swaps $ 1,435,000 $ 66,408 $ 1,550,000 $ 50,743 Derivatives with PLC (1) 1,619,200 18,161 1,497,010 6,077 Embedded derivative - Modco reinsurance treaties 64,593 1,215 25,760 1,051 Embedded derivative - GMWB 1,723,081 49,007 1,302,895 37,497 Interest rate futures 282,373 1,537 27,977 938 Equity futures 262,485 1,275 26,483 427 Currency futures 226,936 2,499 197,648 2,384 Equity options 2,198,340 179,458 1,921,167 163,212 Interest rate swaptions 225,000 3,663 625,000 8,012 Other 242 347 242 360 $ 8,037,250 $ 323,570 $ 7,174,182 $ 270,701 Other liabilities Cash flow hedges: Inflation $ — $ — $ 40,469 $ 142 Derivatives not designated as hedging instruments: Interest rate swaps 475,000 16,579 275,000 3,599 Embedded derivative - Modco reinsurance treaties 2,473,427 178,362 2,562,848 311,727 Funds withheld derivative 1,149,664 102,378 1,233,424 57,305 Embedded derivative - GMWB 1,834,308 67,528 1,702,899 63,460 Embedded derivative - FIA 1,110,790 100,329 749,933 124,465 Embedded derivative - IUL 57,760 29,629 12,019 6,691 Interest rate futures 793,763 1,539 — — Equity futures 233,412 2,599 385,256 15,069 Currency futures 46,692 1,115 — — Equity options 1,205,204 22,167 699,295 47,077 $ 9,380,020 $ 522,225 $ 7,661,143 $ 629,535 (1)These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.

OFFSETTING OF ASSETS AND LIAB61

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Offsetting [Abstract]
Schedule of derivative assets	The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2015 (Successor Company): Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 254,840 $ — $ 254,840 $ 42,382 $ 105,842 $ 106,616 Total derivatives, subject to a master netting arrangement or similar arrangement 254,840 — 254,840 42,382 105,842 106,616 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,215 — 1,215 — — 1,215 Embedded derivative - GMWB 49,007 — 49,007 — — 49,007 Derivatives with PLC 18,161 — 18,161 — — 18,161 Other 347 — 347 — — 347 Total derivatives, not subject to a master netting arrangement or similar arrangement 68,730 — 68,730 — — 68,730 Total derivatives 323,570 — 323,570 42,382 105,842 175,346 Total Assets $ 323,570 $ — $ 323,570 $ 42,382 $ 105,842 $ 175,346 The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company). Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Cash Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 225,716 $ — $ 225,716 $ 53,612 $ 73,935 $ 98,169 Total derivatives, subject to a master netting arrangement or similar arrangement 225,716 — 225,716 53,612 73,935 98,169 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,051 — 1,051 — — 1,051 Embedded derivative - GMWB 37,497 — 37,497 — — 37,497 Derivatives with PLC 6,077 — 6,077 — — 6,077 Other 360 — 360 — — 360 Total derivatives, not subject to a master netting arrangement or similar arrangement 44,985 — 44,985 — — 44,985 Total derivatives 270,701 — 270,701 53,612 73,935 143,154 Total Assets $ 270,701 $ — $ 270,701 $ 53,612 $ 73,935 $ 143,154
Schedule of derivative liabilities	Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Cash Collateral Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 65,887 $ — $ 65,887 $ 53,612 $ 12,258 $ 17 Total derivatives, subject to a master netting arrangement or similar arrangement 65,887 — 65,887 53,612 12,258 17 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 311,727 — 311,727 — — 311,727 Funds withheld derivative 57,305 — 57,305 — — 57,305 Embedded derivative - GMWB 63,460 — 63,460 — — 63,460 Embedded derivative - FIA 124,465 — 124,465 — — 124,465 Embedded derivative - IUL 6,691 — 6,691 — — 6,691 Total derivatives, not subject to a master netting arrangement or similar arrangement 563,648 — 563,648 — — 563,648 Total derivatives 629,535 — 629,535 53,612 12,258 563,665 Repurchase agreements (1) 50,000 — 50,000 — — 50,000 Total Liabilities $ 679,535 $ — $ 679,535 $ 53,612 $ 12,258 $ 613,665 (1) Borrowings under repurchase agreements are for a term less than 90 days. Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Financial Instruments Cash Collateral Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 43,999 $ — $ 43,999 $ 42,382 $ 1,617 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 43,999 — 43,999 42,382 1,617 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 178,362 — 178,362 — — 178,362 Funds withheld derivative 102,378 — 102,378 — — 102,378 Embedded derivative - GMWB 67,528 — 67,528 — — 67,528 Embedded derivative - FIA 100,329 — 100,329 — — 100,329 Embedded derivative - IUL 29,629 — 29,629 — — 29,629 Total derivatives, not subject to a master netting arrangement or similar arrangement 478,226 — 478,226 — — 478,226 Total derivatives 522,225 — 522,225 42,382 1,617 478,226 Repurchase agreements (1) 438,185 — 438,185 — — 438,185 Total Liabilities $ 960,410 $ — $ 960,410 $ 42,382 $ 1,617 $ 916,411 (1) Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Summary of financial information for the Company's segments	The following tables summarize financial information for the Company’s segments (Predecessor and Successor period are not comparable): Successor Company Predecessor Company February 1, 2015 January 1, 2015 For The Year Ended December 31, 2014 2013 (Dollars In Thousands) (Dollars In Thousands) Revenues Life Marketing $ 1,316,832 $ 133,361 $ 1,421,795 $ 1,324,409 Acquisitions 1,333,430 139,761 1,720,179 1,186,579 Annuities 396,651 130,918 785,176 569,004 Stable Value Products 79,670 8,181 127,708 122,974 Asset Protection 294,657 24,566 305,396 296,782 Corporate and Other 65,802 22,859 103,953 104,922 Total revenues $ 3,487,042 $ 459,646 $ 4,464,207 $ 3,604,670 Segment Operating Income (Loss) Life Marketing $ 54,864 $ (2,271 ) $ 116,875 $ 106,812 Acquisitions 194,654 20,134 254,021 154,003 Annuities 146,828 11,363 204,015 166,278 Stable Value Products 56,581 4,529 73,354 80,561 Asset Protection 17,632 1,907 26,274 20,148 Corporate and Other (118,832 ) (16,662 ) (99,048 ) (74,620 ) Total segment operating income 351,727 19,000 575,491 453,182 Realized investment (losses) gains - investments (1)(3) (185,202 ) 89,414 151,035 (140,236 ) Realized investment (losses) gains - derivatives (2) 87,663 24,433 12,263 109,553 Income tax expense (74,491 ) (44,325 ) (246,838 ) (130,897 ) Net income $ 179,697 $ 88,522 $ 491,951 $ 291,602 (1) Investment gains (losses) $ (193,928 ) $ 80,672 $ 198,027 $ (143,984 ) Less: amortization related to DAC/VOBA and benefits and settlement expenses (8,726 ) (8,742 ) 46,992 (3,748 ) Realized investment gains (losses)- investments $ (185,202 ) $ 89,414 $ 151,035 $ (140,236 ) (2) Derivative gains (losses) $ 58,436 $ 22,031 $ (13,492 ) $ 82,161 Less: VA GMWB economic cost (29,227 ) (2,402 ) (25,755 ) (27,392 ) Realized investment gains (losses)- derivatives $ 87,663 $ 24,433 $ 12,263 $ 109,553 Net investment income Life Marketing $ 446,518 $ 47,622 $ 553,006 $ 521,219 Acquisitions 639,422 71,088 874,653 617,298 Annuities 296,839 37,189 465,849 468,329 Stable Value Products 78,459 6,888 107,170 123,798 Asset Protection 14,042 1,540 18,830 19,046 Corporate and Other 57,516 278 78,505 86,498 Total net investment income $ 1,532,796 $ 164,605 $ 2,098,013 $ 1,836,188 Amortization of DAC and VOBA Life Marketing $ 107,811 $ 4,813 $ 175,807 $ 25,774 Acquisitions 2,035 5,033 60,031 72,762 Annuities (41,071 ) (6,999 ) 47,448 31,498 Stable Value Products 43 25 380 398 Asset Protection 26,219 1,858 24,169 23,603 Corporate and Other 27 87 485 625 Total amortization of DAC and VOBA $ 95,064 $ 4,817 $ 308,320 $ 154,660 (3) Includes credit related other-than-temporary impairments of $27.0 million , $0.5 million , $7.3 million , and $22.4 million for the period of February 1, 2015 to December 31, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the years ended December 31, 2014 and 2013 (Predecessor Company), respectively. Successor Company Operating Segment Assets As of December 31, 2015 (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 13,258,639 $ 19,879,988 $ 19,715,901 $ 2,006,263 Deferred policy acquisition costs and value of business acquired 1,119,515 (178,662 ) 578,742 2,357 Other intangibles 319,623 39,658 196,780 9,389 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 14,898,051 $ 19,755,508 $ 20,828,100 $ 2,131,822 Asset Protection Corporate and Other Adjustments Total Consolidated Investments and other assets $ 766,294 $ 9,464,906 $ — $ 65,091,991 Deferred policy acquisition costs and value of business acquired 40,421 — — 1,562,373 Other intangibles 79,681 — — 645,131 Goodwill 67,155 — — 732,443 Total assets $ 953,551 $ 9,464,906 $ — $ 68,031,938 Predecessor Company Operating Segment Assets As of December 31, 2014 (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 13,858,491 $ 19,858,284 $ 20,678,948 $ 1,958,867 Deferred policy acquisition costs and value of business acquired 1,973,156 600,482 539,965 621 Goodwill — 29,419 — — Total assets $ 15,831,647 $ 20,488,185 $ 21,218,913 $ 1,959,488 Asset Protection Corporate and Other Adjustments Total Consolidated Investments and other assets $ 832,887 $ 9,572,018 $ — $ 66,759,495 Deferred policy acquisition costs and value of business acquired 40,503 319 — 3,155,046 Goodwill 48,158 — — 77,577 Total assets $ 921,548 $ 9,572,337 $ — $ 69,992,118

CONSOLIDATED QUARTERLY RESULT63

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited consolidated quarterly operating data	First Quarter (1) Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) Successor Company February 1, 2015 to December 31, 2015 Premiums and policy fees $ 506,386 $ 828,058 $ 793,572 $ 864,806 Reinsurance ceded (146,813 ) (351,196 ) (312,256 ) (364,606 ) Net of reinsurance ceded 359,573 476,862 481,316 500,200 Net investment income 272,211 408,147 413,544 438,894 Realized investment gains (losses) (40,004 ) (97,515 ) 37,140 (35,113 ) Other income 49,181 75,459 74,671 72,476 Total revenues 640,961 862,953 1,006,671 976,457 Total benefits and expenses 616,425 898,520 850,550 867,359 Income before income tax 24,536 (35,567 ) 156,121 109,098 Income tax expense 8,116 (9,991 ) 42,542 33,824 Net income $ 16,420 $ (25,576 ) $ 113,579 $ 75,274 (1) First quarter includes February 1, 2015 to March 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) Predecessor Company For The Year Ended December 31, 2014 Premiums and policy fees $ 812,323 $ 848,183 $ 755,300 $ 867,263 Reinsurance ceded (333,506 ) (348,255 ) (283,104 ) (430,878 ) Net of reinsurance ceded 478,817 499,928 472,196 436,385 Net investment income 514,037 525,576 532,861 525,539 Realized investment gains (losses) 30,981 42,386 39,299 71,869 Other income 65,514 71,296 72,404 85,119 Total revenues 1,089,349 1,139,186 1,116,760 1,118,912 Total benefits and expenses 937,738 966,571 932,640 888,469 Income before income tax 151,611 172,615 184,120 230,443 Income tax expense 49,062 56,572 62,287 78,917 Net income $ 102,549 $ 116,043 $ 121,833 $ 151,526 January 1, 2015 Predecessor Company (Dollars In Thousands) Premiums and policy fees $ 260,582 Reinsurance ceded (91,632 ) Net of reinsurance ceded 168,950 Net investment income 164,605 Realized investment gains (losses) 102,703 Other income 23,388 Total revenues 459,646 Total benefits and expenses 326,799 Income before income tax 132,847 Income tax expense 44,325 Net income $ 88,522

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	11 Months Ended
	Dec. 31, 2015	Feb. 01, 2015	Jan. 31, 2015
Entity Information [Line Items]
Goodwill		$ 735,700
Decrease in goodwill	$ 3,300
Successor
Entity Information [Line Items]
Goodwill	$ 732,443		$ 735,700

SUMMARY OF SIGNIFICANT ACCOUN65

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)primary_source	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)reinsurer
Valuation of investment securities
Number of primary sources of information used for determining fair value	1		1
Total number of primary sources of information available for determining fair value	3		3
Deferred Policy Acquisition Costs
Interest rate assumptions to compute liabilities for future policy benefits, low end of the range (as a percent)		1.00%
Interest rate assumptions to compute liabilities for future policy benefits, high end of the range (as a percent)		8.00%
Successor
Cash
Negative balances due to outstanding checks and drafts	$ 70.3	$ 70.3	$ 70.3

SUMMARY OF SIGNIFICANT ACCOUN66

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Home office building
Property and Equipment
Useful life	25 years
Furniture
Property and Equipment
Useful life	10 years
Office equipment and machines
Property and Equipment
Useful life	5 years
Software and computers
Property and Equipment
Useful life	3 years
Successor
Property and Equipment
Total property and equipment, gross	$ 109,508
Accumulated depreciation	(7,908)
Total property and equipment	101,600
Successor | Home office building
Property and Equipment
Total property and equipment, gross	90,617
Successor | Data processing equipment
Property and Equipment
Total property and equipment, gross	14,607
Successor | Other, principally furniture and equipment
Property and Equipment
Total property and equipment, gross	$ 4,284
Predecessor
Property and Equipment
Total property and equipment, gross		$ 168,448
Accumulated depreciation		(116,688)
Total property and equipment		51,760
Predecessor | Home office building
Property and Equipment
Total property and equipment, gross		75,109
Predecessor | Data processing equipment
Property and Equipment
Total property and equipment, gross		40,568
Predecessor | Other, principally furniture and equipment
Property and Equipment
Total property and equipment, gross		$ 52,771

SUMMARY OF SIGNIFICANT ACCOUN67

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Minimum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	1 year
Maximum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	10 years
Successor
Summarized financial information for the company's segments
Stable value product account balances marketed through structured programs	$ 400.7
Future maturities of stable value products
2,016	534.7
2017 - 2018	1,068.1
2019 - 2020	451.2
Thereafter	$ 62.3
Predecessor
Summarized financial information for the company's segments
Stable value product account balances marketed through structured programs		$ 39.8

SUMMARY OF SIGNIFICANT ACCOUN68

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) - USD ($)	3 Months Ended	11 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Feb. 01, 2015	Jan. 31, 2015
Goodwill
Goodwill				$ 735,700,000
Decrease in goodwill		$ 3,300,000
Goodwill impairment			$ 0
Guaranteed minimum withdrawal benefits (GMWB) | Annuity account
Guaranteed Minimum Withdrawal Benefits
Decrease in net liability for guarantees on long duration contracts guaranteed benefit asset				$ 69,400,000
Successor
Goodwill
Goodwill	$ 732,443,000	732,443,000	$ 732,443,000		$ 735,700,000
Policyholder Liabilities, Revenues and Benefits Expense
Reserve investment yield assumptions, low end of the range (as a percent)			2.80%
Reserve investment yield assumptions, high end of the range (as a percent)			4.50%
Successor | Guaranteed minimum withdrawal benefits (GMWB)
Guaranteed Minimum Withdrawal Benefits
Guaranteed minimum withdrawal benefits liability held, net	18,500,000	$ 18,500,000	$ 18,500,000
New accounting pronouncement, early adoption, effect
Goodwill
Decrease in goodwill	$ 3,300,000

SUMMARY OF SIGNIFICANT ACCOUN69

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Other changes:
Add: reinsurance		$ 5,307,556
Successor | Life and health insurance
Activity in the liability for unpaid claims for life and health insurance
Balance beginning of year		403,009
Less: reinsurance		149,618
Net balance beginning of year		253,391
Incurred related to:
Current year		973,175
Prior year		95,977
Total incurred		1,069,152
Paid related to:
Current year		939,824
Prior year		111,222
Total paid		1,051,046
Other changes:
Net balance end of year	$ 253,391	271,497
Add: reinsurance	149,618	112,537
Balance end of year	403,009	384,034
Predecessor
Activity in the liability for unpaid claims for life and health insurance
Less: reinsurance	5,907,662
Other changes:
Add: reinsurance			$ 5,907,662
Predecessor | Life and health insurance
Activity in the liability for unpaid claims for life and health insurance
Balance beginning of year	419,401	403,009	334,450	$ 326,633
Less: reinsurance	163,671	149,618	117,502	155,341
Net balance beginning of year	255,730	$ 253,391	216,948	171,292
Incurred related to:
Current year	97,573		1,075,005	698,028
Prior year	9,360		102,936	68,396
Total incurred	106,933		1,177,941	766,424
Paid related to:
Current year	98,281		1,017,193	682,877
Prior year	10,991		121,966	85,146
Total paid	109,272		1,139,159	768,023
Other changes:
Acquisition and reserve transfers	0		0	47,255
Net balance end of year	253,391		255,730	216,948
Add: reinsurance	149,618		163,671	117,502
Balance end of year	$ 403,009		$ 419,401	$ 334,450

SUMMARY OF SIGNIFICANT ACCOUN70

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2015
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for universal life, low end of range (as a percent)	1.00%
Interest rate credited to policy account balances for universal life, high end of range (as a percent)	8.75%
Direct impact of net investment income on reinsurance cost	$ 0
Minimum
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for investment products (as a percent)	0.20%
Maximum
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for investment products (as a percent)	9.80%
Successor | Guaranteed minimum death benefits (GMDB) | Annuity account
Policyholder liabilities, revenues, and benefits expense
Impact of reinsurance	$ 29,931,000	$ 23,893,000

RECENTLY ANNOUNCED REINSURANC71

RECENTLY ANNOUNCED REINSURANCE AND FINANCING TRANSACTION (Details) - Subsequent events	Jan. 15, 2016USD ($)
Debt Instrument [Line Items]
Estimated average annual expense of credit enhancement	$ 3,100,000
Financing Agreement With Golden Gate And Syndicate Of Risk Takers
Debt Instrument [Line Items]
Term of financing agreement	18 years
Financing capacity under the agreement	$ 2,188,000,000
Golden Gate
Debt Instrument [Line Items]
Extraordinary dividend	300,000,000
Golden Gate | Series Of Non Recourse Funding Obligations
Debt Instrument [Line Items]
Outstanding non-recourse funding obligations	800,000,000
Golden Gate | Surplus Notes | Steel City Notes
Debt Instrument [Line Items]
Amount of debt issued	2,188,000,000
Steel City | Surplus Notes | Golden Gate Surplus Notes
Debt Instrument [Line Items]
Amount of debt issued	$ 2,188,000,000

DAI-ICHI MERGER (Details)

DAI-ICHI MERGER (Details) - USD ($)	Feb. 01, 2015	Dec. 31, 2015	Jan. 31, 2015
Business Acquisition [Line Items]
Per share merger consideration (in dollars per share)	$ 70
Goodwill	$ 735,700,000
Decrease in goodwill		$ 3,300,000
DaiIchi Life | PLC
Business Acquisition [Line Items]
Per share merger consideration (in dollars per share)	$ 70
Aggregate cash consideration	$ 5,600,000,000
Goodwill	$ 735,712,000
Decrease in goodwill		3,300,000
Successor
Business Acquisition [Line Items]
Goodwill		732,443,000	$ 735,700,000
Successor | DaiIchi Life | PLC
Business Acquisition [Line Items]
Goodwill		732,400,000
Tax deductible goodwill		$ 0

DAI-ICHI MERGER (Details 2)

DAI-ICHI MERGER (Details 2) $ in Thousands	Feb. 01, 2015USD ($)
Assets
Goodwill	$ 735,700
PLC | DaiIchi Life
Assets
Fixed maturities	38,342,948
Equity securities	699,081
Mortgage loans	5,580,229
Investment real estate	7,456
Policy loans	1,751,872
Other long-term investments	657,346
Short-term investments	311,236
Total investments	47,350,168
Cash	378,903
Accrued investment income	483,691
Accounts and premiums receivable	104,260
Reinsurance receivables	5,538,637
Value of business acquired	1,278,064
Goodwill	735,712
Other intangibles	683,000
Property and equipment	102,736
Other assets	224,555
Income tax receivable	50,117
Assets related to separate accounts
Variable annuity	12,970,587
Variable universal life	819,188
Total assets	70,719,618
Liabilities
Future policy and benefit claims	30,195,397
Unearned premiums	622,278
Total policy liabilities and accruals	30,817,675
Stable value product account balances	1,932,277
Annuity account balances	10,941,661
Other policyholders' funds	1,388,083
Other liabilities	1,533,666
Deferred income taxes	1,861,632
Non-recourse funding obligations	1,895,636
Repurchase program borrowings	50,000
Liabilities related to separate accounts
Variable annuity	12,970,587
Variable universal life	819,188
Total liabilities	64,210,405
Net assets acquired	$ 6,509,213

DAI-ICHI MERGER (Details 3)

DAI-ICHI MERGER (Details 3) - PLC - DaiIchi Life $ in Thousands	Feb. 01, 2015USD ($)
Business Acquisition [Line Items]
Intangible assets subject to amortization	$ 651,000
Total intangible assets	683,000
Insurance licenses
Business Acquisition [Line Items]
Intangible assets not subject to amortization	32,000
Distribution relationships
Business Acquisition [Line Items]
Intangible assets subject to amortization	$ 405,000
Distribution relationships | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	14 years
Distribution relationships | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	22 years
Trade names
Business Acquisition [Line Items]
Intangible assets subject to amortization	$ 103,000
Trade names | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	13 years
Trade names | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	17 years
Technology
Business Acquisition [Line Items]
Intangible assets subject to amortization	$ 143,000
Technology | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	7 years
Technology | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	14 years

DAI-ICHI MERGER (Details 4)

DAI-ICHI MERGER (Details 4) - PLC - DaiIchi Life $ in Thousands	Feb. 01, 2015USD ($)
Business Acquisition [Line Items]
2,016	$ 41,313
2,017	41,313
2,018	41,313
2,019	41,313
2,020	$ 41,313

MONY CLOSED BLOCK OF BUSINESS76

MONY CLOSED BLOCK OF BUSINESS (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Jan. 31, 2015	Dec. 31, 2014
Successor
Closed block liabilities
Future policy benefits, policyholders' account balances and other policyholder liabilities				$ 6,010,520
Policyholder dividend obligation	$ 323,432	$ 0		0	$ 323,432
Other liabilities				22,917
Total closed block liabilities				6,033,437
Closed block assets
Fixed maturities, available-for-sale, at fair value				4,426,090
Equity securities, available-for-sale, at fair value				0
Mortgage loans on real estate				247,162
Policy loans				746,102
Cash and other invested assets				34,420
Other assets				166,445
Total closed block assets				5,620,219
Excess of reported closed block liabilities over closed block assets				413,218
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of policyholder dividend obligation of $(179,360) (Successor) and $106,886 (Predecessor)				(18,597)
Future earnings to be recognized from closed block assets and closed block liabilities				394,621
Policyholder dividend obligation				(179,360)
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, beginning balance		323,432
Applicable to net revenue (losses)		47,493
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation; includes deferred tax benefits of $(96,579) (Successor); $47,277 (2015 - Predecessor); $58,571 (2014 - Predecessor)		(275,939)
Policyholder dividend obligation, ending balance	323,432	0
Deferred tax benefit				$ (96,579)
Revenues
Premiums and other income		185,562
Net investment income		193,203
Net investment gains		3,333
Total revenues		382,098
Benefits and other deductions
Benefits and settlement expenses		336,629
Other operating expenses		1,001
Total benefits and other deductions		337,630
Net revenues before income taxes		44,468
Income tax expense		14,920
Net revenues		29,548
Predecessor
Closed block liabilities
Future policy benefits, policyholders' account balances and other policyholder liabilities						$ 6,138,505
Policyholder dividend obligation	366,745	500,453	$ 190,494		500,453	366,745
Other liabilities						53,838
Total closed block liabilities						6,559,088
Closed block assets
Fixed maturities, available-for-sale, at fair value						4,524,037
Equity securities, available-for-sale, at fair value						5,387
Mortgage loans on real estate						448,855
Policy loans						771,120
Cash and other invested assets						30,984
Other assets						221,270
Total closed block assets						6,001,653
Excess of reported closed block liabilities over closed block assets						557,435
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of policyholder dividend obligation of $(179,360) (Successor) and $106,886 (Predecessor)						0
Future earnings to be recognized from closed block assets and closed block liabilities						557,435
Policyholder dividend obligation						106,886
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, beginning balance	366,745	$ 500,453	190,494
Applicable to net revenue (losses)	1,369		910
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation; includes deferred tax benefits of $(96,579) (Successor); $47,277 (2015 - Predecessor); $58,571 (2014 - Predecessor)	135,077		177,161
Policyholder dividend obligation, ending balance	500,453		366,745
Deferred tax benefit					$ 47,277	$ 58,571
Revenues
Premiums and other income	15,065		212,765
Net investment income	19,107		239,028
Net investment gains	568		10,528
Total revenues	34,740		462,321
Benefits and other deductions
Benefits and settlement expenses	31,152		417,667
Other operating expenses	0		674
Total benefits and other deductions	31,152		418,341
Net revenues before income taxes	3,588		43,980
Income tax expense	1,256		20,377
Net revenues	$ 2,332		$ 23,603

INVESTMENT OPERATIONS (Details)

INVESTMENT OPERATIONS (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended							11 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Investment operations
Investment income before other investment expenses										$ 1,656,691
Other investment expenses										123,895
Net investment income		$ 272,211	$ 438,894	$ 413,544	$ 408,147					1,532,796
Net realized gains (losses) for all other investments
Fixed maturities										1,272
Equity securities										(1,001)
Impairments on fixed maturity securities										(26,993)
Impairments on equity securities										0
Modco trading portfolio										(167,359)
Other investments										153
Total realized gains (losses) - investments										(193,928)
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments)										8,700
Gross realized losses										35,500
Impairment losses on investments available-for-sale										27,000
Fair value (proceeds) of securities in an unrealized gain position sold										948,800
Gain realized on the sale of securities in an unrealized gain position										8,700
Fair value (proceeds) of securities sold in an unrealized loss position										178,400
Loss realized on the sale of securities in an unrealized loss position										8,500
Successor | Fixed income
Investment operations
Investment income before other investment expenses										1,266,769
Successor | Equity securities
Investment operations
Investment income before other investment expenses										40,879
Successor | Mortgage loans
Investment operations
Investment income before other investment expenses										252,577
Successor | Investment real estate
Investment operations
Investment income before other investment expenses										2,528
Successor | Short-term investments
Investment operations
Investment income before other investment expenses										$ 93,938
Predecessor
Investment operations
Investment income before other investment expenses	$ 177,671										$ 2,228,108	$ 1,944,740
Other investment expenses	13,066										130,095	108,552
Net investment income	164,605					$ 525,539	$ 532,861	$ 525,576	$ 514,037		2,098,013	1,836,188
Net realized gains (losses) for all other investments
Fixed maturities	6,891										75,074	63,161
Equity securities	0										495	3,276
Impairments on fixed maturity securities	(481)										(7,275)	(19,100)
Impairments on equity securities	0										0	(3,347)
Modco trading portfolio	73,062										142,016	(178,134)
Other investments	1,200										(12,283)	(9,840)
Total realized gains (losses) - investments	80,672										198,027	(143,984)
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments)	6,900										76,700	72,600
Gross realized losses	500										8,100	27,900
Impairment losses on investments available-for-sale	400										6,900	21,700
Fair value (proceeds) of securities in an unrealized gain position sold	172,600										1,700,000	2,300,000
Gain realized on the sale of securities in an unrealized gain position	6,900										76,700	72,600
Fair value (proceeds) of securities sold in an unrealized loss position	400										22,900	398,200
Loss realized on the sale of securities in an unrealized loss position											1,200	6,200
Predecessor | Fixed income
Investment operations
Investment income before other investment expenses	140,052										1,711,722	1,508,924
Predecessor | Equity securities
Investment operations
Investment income before other investment expenses	2,556										41,533	26,735
Predecessor | Mortgage loans
Investment operations
Investment income before other investment expenses	24,977										360,778	333,093
Predecessor | Investment real estate
Investment operations
Investment income before other investment expenses	112										4,483	3,555
Predecessor | Short-term investments
Investment operations
Investment income before other investment expenses	$ 9,974										$ 109,592	$ 72,433

INVESTMENT OPERATIONS (Details

INVESTMENT OPERATIONS (Details 2) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Successor
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	$ 36,612,808	$ 36,612,808
Gross Unrealized Gains	53,197	53,197
Gross Unrealized Losses	(2,929,180)	(2,929,180)
Fair Value	33,736,825	33,736,825
Total OTTI Recognized in OCI		(605)
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Fair Value	515,000	515,000
Unrecognized holding loss	78,300
Amortized Cost, Held-to-maturity
Amortized Cost	593,314	593,314
Fair Value, Held-to-maturity
Fair Value	515,000	515,000
Successor | Fixed maturities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	35,725,810	35,725,810
Gross Unrealized Gains	39,942	39,942
Gross Unrealized Losses	(2,922,703)	(2,922,703)
Fair Value	32,843,049	32,843,049
Total OTTI Recognized in OCI		(605)
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	593,314	593,314
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(78,314)	(78,314)
Fair Value	515,000	515,000
Total OTTI Recognized in OCI		0
Trading securities	2,700,000	2,700,000
Amortized Cost, Available-for-sale
Due in one year or less	937,594	937,594
Due after one year through five years	5,860,269	5,860,269
Due after five years through ten years	7,791,519	7,791,519
Due after ten years	21,136,428	21,136,428
Total	35,725,810	35,725,810
Fair Value, Available-for-sale
Due in one year or less	935,861	935,861
Due after one year through five years	5,725,005	5,725,005
Due after five years through ten years	7,494,182	7,494,182
Due after ten years	18,688,001	18,688,001
Total	32,843,049	32,843,049
Amortized Cost, Held-to-maturity
Due after ten years	593,314	593,314
Amortized Cost	593,314	593,314
Fair Value, Held-to-maturity
Due after ten years	515,000	515,000
Fair Value	515,000	515,000
Successor | Residential mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,773,099	1,773,099
Gross Unrealized Gains	9,286	9,286
Gross Unrealized Losses	(17,112)	(17,112)
Fair Value	1,765,273	1,765,273
Total OTTI Recognized in OCI		0
Successor | Commercial mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,327,288	1,327,288
Gross Unrealized Gains	428	428
Gross Unrealized Losses	(41,852)	(41,852)
Fair Value	1,285,864	1,285,864
Total OTTI Recognized in OCI		0
Successor | Other asset-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	813,056	813,056
Gross Unrealized Gains	2,758	2,758
Gross Unrealized Losses	(18,763)	(18,763)
Fair Value	797,051	797,051
Total OTTI Recognized in OCI		0
Successor | U.S. government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,566,260	1,566,260
Gross Unrealized Gains	449	449
Gross Unrealized Losses	(34,532)	(34,532)
Fair Value	1,532,177	1,532,177
Total OTTI Recognized in OCI		0
Successor | Other government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	18,483	18,483
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(743)	(743)
Fair Value	17,740	17,740
Total OTTI Recognized in OCI		0
Successor | States, municipals, and political subdivisions
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,729,732	1,729,732
Gross Unrealized Gains	682	682
Gross Unrealized Losses	(126,814)	(126,814)
Fair Value	1,603,600	1,603,600
Total OTTI Recognized in OCI		0
Successor | Corporate securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	28,433,530	28,433,530
Gross Unrealized Gains	26,147	26,147
Gross Unrealized Losses	(2,681,020)	(2,681,020)
Fair Value	25,778,657	25,778,657
Total OTTI Recognized in OCI		(605)
Successor | Preferred Stock
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	64,362	64,362
Gross Unrealized Gains	192	192
Gross Unrealized Losses	(1,867)	(1,867)
Fair Value	62,687	62,687
Total OTTI Recognized in OCI		0
Successor | Other
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	593,314	593,314
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(78,314)	(78,314)
Fair Value	515,000	515,000
Total OTTI Recognized in OCI		0
Fair Value, Held-to-maturity
Fair Value	515,000	515,000
Successor | Equity securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	684,888	684,888
Gross Unrealized Gains	13,255	13,255
Gross Unrealized Losses	(6,477)	(6,477)
Fair Value	691,666	691,666
Total OTTI Recognized in OCI		0
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	8,300	8,300
Successor | Short-term investments
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	202,110	202,110
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	202,110	202,110
Total OTTI Recognized in OCI		0
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	$ 61,700	$ 61,700
Predecessor
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			$ 31,763,413
Gross Unrealized Gains			3,274,304
Gross Unrealized Losses			(213,419)
Fair Value			34,824,298
Total OTTI Recognized in OCI			6,309
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Fair Value			485,422
Amortized Cost, Held-to-maturity
Amortized Cost			435,000
Fair Value, Held-to-maturity
Fair Value			485,422
Predecessor | Fixed maturities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			30,898,028
Gross Unrealized Gains			3,238,658
Gross Unrealized Losses			(199,266)
Fair Value			33,937,420
Total OTTI Recognized in OCI			6,309
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost			435,000
Gross Unrealized Gains			50,422
Gross Unrealized Losses			0
Fair Value			485,422
Total OTTI Recognized in OCI			0
Trading securities			2,800,000
Fair Value, Held-to-maturity
Fair Value			485,422
Predecessor | Residential mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			1,374,141
Gross Unrealized Gains			56,381
Gross Unrealized Losses			(12,264)
Fair Value			1,418,258
Total OTTI Recognized in OCI			6,404
Predecessor | Commercial mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			1,119,979
Gross Unrealized Gains			59,637
Gross Unrealized Losses			(2,364)
Fair Value			1,177,252
Total OTTI Recognized in OCI			0
Predecessor | Other asset-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			857,365
Gross Unrealized Gains			17,961
Gross Unrealized Losses			(35,950)
Fair Value			839,376
Total OTTI Recognized in OCI			(95)
Predecessor | U.S. government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			1,394,028
Gross Unrealized Gains			44,149
Gross Unrealized Losses			(9,282)
Fair Value			1,428,895
Total OTTI Recognized in OCI			0
Predecessor | Other government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			16,939
Gross Unrealized Gains			3,233
Gross Unrealized Losses			0
Fair Value			20,172
Total OTTI Recognized in OCI			0
Predecessor | States, municipals, and political subdivisions
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			1,391,526
Gross Unrealized Gains			296,594
Gross Unrealized Losses			(431)
Fair Value			1,687,689
Total OTTI Recognized in OCI			0
Predecessor | Corporate securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			24,744,050
Gross Unrealized Gains			2,760,703
Gross Unrealized Losses			(138,975)
Fair Value			27,365,778
Total OTTI Recognized in OCI			0
Predecessor | Other
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost			435,000
Gross Unrealized Gains			50,422
Gross Unrealized Losses			0
Fair Value			485,422
Total OTTI Recognized in OCI			0
Fair Value, Held-to-maturity
Fair Value			485,422
Predecessor | Equity securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			713,813
Gross Unrealized Gains			35,646
Gross Unrealized Losses			(14,153)
Fair Value			735,306
Total OTTI Recognized in OCI			0
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities			21,500
Predecessor | Short-term investments
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost			151,572
Gross Unrealized Gains			0
Gross Unrealized Losses			0
Fair Value			151,572
Total OTTI Recognized in OCI			0
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities			$ 95,100

INVESTMENT OPERATIONS (Detail79

INVESTMENT OPERATIONS (Details 3) - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded		$ 28,659,000
Other-than-temporary impairments of investments recorded in earnings		26,993,000
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)		1,666,000
Successor | Fixed maturities
INVESTMENT OPERATIONS
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell		0
Credit losses on debt securities
Beginning balance		0
Additions for newly impaired securities		22,761,000
Additions for previously impaired securities		0
Reductions for previously impaired securities due to a change in expected cash flows		0
Reductions for previously impaired securities that were sold in the current period		0
Other		0
Ending balance	$ 0	22,761,000
Successor | Equity securities
INVESTMENT OPERATIONS
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell		0
Predecessor
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	636,000		$ 2,589,000	$ 10,941,000
Other-than-temporary impairments of investments recorded in earnings	481,000		7,275,000	22,400,000
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)	155,000		(4,686,000)	(11,506,000)
Predecessor | Fixed maturities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	600,000			7,600,000
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	0		0	0
Credit losses on debt securities
Beginning balance	15,463,000	$ 15,684,000	41,674,000	121,237,000
Additions for newly impaired securities	0		0	3,516,000
Additions for previously impaired securities	221,000		2,263,000	12,066,000
Reductions for previously impaired securities due to a change in expected cash flows	0		(28,474,000)	(87,908,000)
Reductions for previously impaired securities that were sold in the current period	0		0	(7,237,000)
Other	0		0	0
Ending balance	15,684,000		15,463,000	41,674,000
Predecessor | Equity securities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded				3,300,000
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	$ 0		$ 0	$ 0

INVESTMENT OPERATIONS (Detail80

INVESTMENT OPERATIONS (Details 4) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Dec. 31, 2015USD ($)position	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Successor
Fair Value
Less Than 12 Months		$ 30,237,469
12 Months or More		0
Total		30,237,469
Unrealized Loss
Less Than 12 Months		(2,929,180)
12 Months or More		0
Total		$ (2,929,180)
Number of positions | position		2,547
Available-for-sale securities, fair value		$ 33,736,825
Available-for-sale securities, amortized cost		36,612,808
Non-income producing investments		27,100
Policy loans		$ 1,699,508
Interest rate on collateral loans on life insurance policies (as a percent)		13.64%
Successor | Minimum
Unrealized Loss
Interest rate on standard policy loans (as a percent)		3.00%
Successor | Maximum
Unrealized Loss
Interest rate on standard policy loans (as a percent)		8.00%
Successor | Below investment grade
Unrealized Loss
Available-for-sale securities, fair value		$ 1,500,000
Available-for-sale securities, amortized cost		1,700,000
Securities in trading portfolio		288,200
Securities not publicly traded		928,700
Successor | Fixed maturities
Unrealized Loss
Available-for-sale securities, fair value		32,843,049
Available-for-sale securities, amortized cost		35,725,810
Securities in trading portfolio		2,700,000
Change in unrealized gains (losses), net of income tax		(1,873,795)
Successor | Residential mortgage-backed securities
Fair Value
Less Than 12 Months		977,433
12 Months or More		0
Total		977,433
Unrealized Loss
Less Than 12 Months		(17,112)
12 Months or More		0
Total		(17,112)
Available-for-sale securities, fair value		1,765,273
Available-for-sale securities, amortized cost		1,773,099
Successor | Commercial mortgage-backed securities
Fair Value
Less Than 12 Months		1,232,495
12 Months or More		0
Total		1,232,495
Unrealized Loss
Less Than 12 Months		(41,852)
12 Months or More		0
Total		(41,852)
Available-for-sale securities, fair value		1,285,864
Available-for-sale securities, amortized cost		1,327,288
Successor | Other asset-backed securities
Fair Value
Less Than 12 Months		633,274
12 Months or More		0
Total		633,274
Unrealized Loss
Less Than 12 Months		(18,763)
12 Months or More		0
Total		(18,763)
Available-for-sale securities, fair value		797,051
Available-for-sale securities, amortized cost		813,056
Successor | U.S. government-related securities
Fair Value
Less Than 12 Months		1,291,476
12 Months or More		0
Total		1,291,476
Unrealized Loss
Less Than 12 Months		(34,532)
12 Months or More		0
Total		(34,532)
Available-for-sale securities, fair value		1,532,177
Available-for-sale securities, amortized cost		1,566,260
Successor | Other government-related securities
Fair Value
Less Than 12 Months		17,740
12 Months or More		0
Total		17,740
Unrealized Loss
Less Than 12 Months		(743)
12 Months or More		0
Total		(743)
Available-for-sale securities, fair value		17,740
Available-for-sale securities, amortized cost		18,483
Successor | States, municipals, and political subdivisions
Fair Value
Less Than 12 Months		1,566,752
12 Months or More		0
Total		1,566,752
Unrealized Loss
Less Than 12 Months		(126,814)
12 Months or More		0
Total		(126,814)
Available-for-sale securities, fair value		1,603,600
Available-for-sale securities, amortized cost		1,729,732
Successor | Corporate bonds
Fair Value
Less Than 12 Months		24,235,121
12 Months or More		0
Total		24,235,121
Unrealized Loss
Less Than 12 Months		(2,681,020)
12 Months or More		0
Total		(2,681,020)
Available-for-sale securities, fair value		25,778,657
Available-for-sale securities, amortized cost		28,433,530
Successor | Preferred Stock
Fair Value
Less Than 12 Months		34,685
12 Months or More		0
Total		34,685
Unrealized Loss
Less Than 12 Months		(1,867)
12 Months or More		0
Total		(1,867)
Available-for-sale securities, fair value		62,687
Available-for-sale securities, amortized cost		64,362
Successor | Equity securities
Fair Value
Less Than 12 Months		248,493
12 Months or More		0
Total		248,493
Unrealized Loss
Less Than 12 Months		(6,477)
12 Months or More		0
Total		(6,477)
Available-for-sale securities, fair value		691,666
Available-for-sale securities, amortized cost		684,888
Securities in trading portfolio		8,300
Change in unrealized gains (losses), net of income tax		$ 4,406
Predecessor
Fair Value
Less Than 12 Months			$ 2,232,805
12 Months or More			1,904,974
Total			4,137,779
Unrealized Loss
Less Than 12 Months			(96,859)
12 Months or More			(116,560)
Total			(213,419)
Available-for-sale securities, fair value			34,824,298
Available-for-sale securities, amortized cost			31,763,413
Policy loans			1,758,237
Predecessor | Fixed maturities
Unrealized Loss
Available-for-sale securities, fair value			33,937,420
Available-for-sale securities, amortized cost			30,898,028
Securities in trading portfolio			2,800,000
Change in unrealized gains (losses), net of income tax	$ 669,160		1,224,248	$ (1,269,277)
Predecessor | Residential mortgage-backed securities
Fair Value
Less Than 12 Months			165,877
12 Months or More			67,301
Total			233,178
Unrealized Loss
Less Than 12 Months			(9,547)
12 Months or More			(2,717)
Total			(12,264)
Available-for-sale securities, fair value			1,418,258
Available-for-sale securities, amortized cost			1,374,141
Predecessor | Commercial mortgage-backed securities
Fair Value
Less Than 12 Months			49,908
12 Months or More			102,529
Total			152,437
Unrealized Loss
Less Than 12 Months			(334)
12 Months or More			(2,030)
Total			(2,364)
Available-for-sale securities, fair value			1,177,252
Available-for-sale securities, amortized cost			1,119,979
Predecessor | Other asset-backed securities
Fair Value
Less Than 12 Months			108,665
12 Months or More			537,488
Total			646,153
Unrealized Loss
Less Than 12 Months			(6,473)
12 Months or More			(29,477)
Total			$ (35,950)
Percentage of underlying collateral including student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum			97.00%
Available-for-sale securities, fair value			$ 839,376
Available-for-sale securities, amortized cost			857,365
Predecessor | U.S. government-related securities
Fair Value
Less Than 12 Months			231,917
12 Months or More			280,803
Total			512,720
Unrealized Loss
Less Than 12 Months			(3,868)
12 Months or More			(5,414)
Total			(9,282)
Available-for-sale securities, fair value			1,428,895
Available-for-sale securities, amortized cost			1,394,028
Predecessor | Other government-related securities
Fair Value
Less Than 12 Months			0
12 Months or More			0
Total			0
Unrealized Loss
Less Than 12 Months			0
12 Months or More			0
Total			0
Available-for-sale securities, fair value			20,172
Available-for-sale securities, amortized cost			16,939
Predecessor | States, municipals, and political subdivisions
Fair Value
Less Than 12 Months			1,905
12 Months or More			10,481
Total			12,386
Unrealized Loss
Less Than 12 Months			(134)
12 Months or More			(297)
Total			(431)
Available-for-sale securities, fair value			1,687,689
Available-for-sale securities, amortized cost			1,391,526
Predecessor | Corporate bonds
Fair Value
Less Than 12 Months			1,657,103
12 Months or More			776,863
Total			2,433,966
Unrealized Loss
Less Than 12 Months			(76,285)
12 Months or More			(62,690)
Total			(138,975)
Available-for-sale securities, fair value			27,365,778
Available-for-sale securities, amortized cost			24,744,050
Predecessor | Equity securities
Fair Value
Less Than 12 Months			17,430
12 Months or More			129,509
Total			146,939
Unrealized Loss
Less Than 12 Months			(218)
12 Months or More			(13,935)
Total			(14,153)
Available-for-sale securities, fair value			735,306
Available-for-sale securities, amortized cost			713,813
Securities in trading portfolio			21,500
Change in unrealized gains (losses), net of income tax	$ 12,172		$ 33,642	$ (20,899)

INVESTMENT OPERATIONS (Detail81

INVESTMENT OPERATIONS (Details 5) - Red Mountain	11 Months Ended
	Dec. 31, 2015USD ($)reinsurer	Dec. 31, 2014reinsurer
Successor
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs | reinsurer	1
Ownership interest through an affiliate (as a percent)	100.00%
Investment to which risk of loss related to the VIE is limited | $	$ 10,000
Payments made to guarantee | $	$ 0
Predecessor
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs | reinsurer		1

MORTGAGE LOANS (Details)

MORTGAGE LOANS (Details) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)reinsurer	Dec. 31, 2014USD ($)
Mortgage loans
Number of single tenants whose exposure represents more than 2.0% of mortgage loans | reinsurer			0
Amount that would become due in 2016, if loans are called at their next call dates		$ 143,500	$ 143,500
Amount that would become due in 2017 through 2021, if loans are called at their next call dates		854,500	854,500
Amount that would become due in 2022 through 2026, if loans are called at their next call dates		242,500	242,500
Amount that would become due after 2026, if loans are called at their next call dates		$ 11,300	$ 11,300
Maximum
Mortgage loans
Single tenant's exposure as a percentage of mortgage loans		2.00%	2.00%
Commercial mortgage loans | Minimum
Mortgage loans
Period for exercise of call options or interest rate reset options			3 years
Commercial mortgage loans | Maximum
Mortgage loans
Period for exercise of call options or interest rate reset options			10 years
Successor
Mortgage loans
Mortgage loans on real estate		$ 5,662,812	$ 5,662,812
Percentage of mortgage loans on real estate		100.00%	100.00%
Amount of new loans funded		$ 1,400,000
Average loan size of new loans funded		6,000
Average loan size of portfolio		$ 3,000	$ 3,000
Weighted-average interest rate on mortgage loans (as a percent)		5.30%
Largest single mortgage loan		$ 48,300	$ 48,300
Successor | All identified states
Mortgage loans
Percentage of mortgage loans on real estate		62.80%	62.80%
Successor | Alabama
Mortgage loans
Percentage of mortgage loans on real estate		10.60%	10.60%
Successor | Texas
Mortgage loans
Percentage of mortgage loans on real estate		9.30%	9.30%
Successor | Georgia
Mortgage loans
Percentage of mortgage loans on real estate		7.40%	7.40%
Successor | Florida
Mortgage loans
Percentage of mortgage loans on real estate		6.50%	6.50%
Successor | Tennessee
Mortgage loans
Percentage of mortgage loans on real estate		6.40%	6.40%
Successor | Utah
Mortgage loans
Percentage of mortgage loans on real estate		5.30%	5.30%
Successor | North Carolina
Mortgage loans
Percentage of mortgage loans on real estate		4.70%	4.70%
Successor | South Carolina
Mortgage loans
Percentage of mortgage loans on real estate		4.50%	4.50%
Successor | Ohio
Mortgage loans
Percentage of mortgage loans on real estate		4.20%	4.20%
Successor | California
Mortgage loans
Percentage of mortgage loans on real estate		3.90%	3.90%
Successor | Retail
Mortgage loans
Percentage of mortgage loans on real estate		60.90%	60.90%
Successor | Office Buildings
Mortgage loans
Percentage of mortgage loans on real estate		13.00%	13.00%
Successor | Apartments
Mortgage loans
Percentage of mortgage loans on real estate		7.40%	7.40%
Successor | Warehouses
Mortgage loans
Percentage of mortgage loans on real estate		8.60%	8.60%
Successor | Senior housing
Mortgage loans
Percentage of mortgage loans on real estate		6.40%	6.40%
Successor | Other
Mortgage loans
Percentage of mortgage loans on real estate		3.70%	3.70%
Predecessor
Mortgage loans
Mortgage loans on real estate				$ 5,133,780
Amount of new loans funded	$ 97,400
Average loan size of new loans funded	$ 7,500

MORTGAGE LOANS (Details 2)

MORTGAGE LOANS (Details 2)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)reinsurer	Dec. 31, 2014USD ($)loan	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Commercial mortgage loans
Mortgage loans
Number of loan categories | reinsurer			2
Commercial mortgage loans | Maximum
Mortgage loans
Loan-to-value ratio with participating interest (as a percent) (up to)						85.00%
Successor
Mortgage loans
Portion of loan acquired which is expected to be uncollectible		$ 0	$ 0			$ 0
Change in the allowance for credit losses
Ending balance		0	0
Successor | Commercial mortgage loans
Mortgage loans
Mortgage loans having participation feature						449,200,000
Income recognized on participating mortgage loans		29,800,000
Nonperforming mortgage loans, foreclosed properties and restructured loans pursuant to pooling and servicing agreements						4,700,000
Assets accepted or agreed to be accepted on mortgage loans accounted for as troubled debt restructurings		15,800,000
Principal amount of loans accounted for as troubled debt restructurings satisfied by acceptance of assets		21,100,000
Assets accepted or agreed to be accepted on mortgage loans accounted for as		3,700,000
Loans not subject to a pooling and servicing agreement which are either nonperforming or restructured						4,700,000
Nonperforming loans not subject to a pooling and servicing agreement that were foreclosed						3,700,000
Loans subject to a pooling and servicing agreement which are nonperforming						0
Portion of loan acquired which is expected to be uncollectible	$ 0	0	0			$ 0
Change in the allowance for credit losses
Beginning balance		0
Charge offs		(2,561,000)
Recoveries		(638,000)
Provision		3,199,000
Ending balance	0	0	0
Predecessor
Mortgage loans
Reduction in investment in mortgage loans					$ (500,000)
Portion of loan acquired which is expected to be uncollectible	5,700,000		5,700,000	$ 5,700,000			$ 5,700,000
Change in the allowance for credit losses
Beginning balance	5,700,000		5,700,000
Ending balance				5,700,000
Predecessor | Commercial mortgage loans
Mortgage loans
Mortgage loans having participation feature							553,600,000
Income recognized on participating mortgage loans	100,000			16,700,000
Nonperforming mortgage loans, foreclosed properties and restructured loans pursuant to pooling and servicing agreements							$ 24,500,000	$ 15,900,000
Assets accepted or agreed to be accepted on mortgage loans accounted for as troubled debt restructurings	11,300,000			33,000,000
Principal amount of loans accounted for as troubled debt restructurings satisfied by acceptance of assets	13,800,000			$ 41,700,000
Nonperforming mortgage loans, foreclosed properties and restructured loans to invested assets (as a percent)							0.05%	0.03%
Number of mortgage loans permanently impaired | loan				1
Principal amount of impaired loans accounted for as troubled debt restructurings				$ 12,600,000
Impaired mortgage loans accounted for as troubled debt restructurings							$ 7,300,000
Reduction in the entity's investment in mortgage loans, net of existing allowances for mortgage loan losses				10,300,000
Loan restructuring or modifications								$ 3,200,000
Portion of loan acquired which is expected to be uncollectible	5,720,000	2,500,000	5,720,000	3,130,000	3,130,000		$ 5,720,000	$ 3,130,000
Change in the allowance for credit losses
Beginning balance	5,720,000	$ 2,500,000	$ 5,720,000	3,130,000
Charge offs	(861,000)			(675,000)
Recoveries	(2,359,000)			(2,600,000)
Provision	0			5,865,000
Ending balance	$ 2,500,000			$ 5,720,000	$ 3,130,000

MORTGAGE LOANS (Details 3)

MORTGAGE LOANS (Details 3) - Commercial mortgage loans $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)reinsurerloan	Dec. 31, 2014USD ($)reinsurerloan
Delinquent loans
Past due period at which to cease carrying accrued interest on delinquent loans	90 days
Number of days accrued interest on impaired loans (less than)	90 days
Past due period at which to initiate foreclosure proceedings (more than)	90 days
Successor
Delinquent loans
Delinquent	$ 7,035
Number of loans, Total Delinquent | reinsurer	7
Successor | 30-59 Days Delinquent
Delinquent loans
Delinquent	$ 6,002
Number of loans, 30-59 Days Delinquent | reinsurer	6
Successor | 60-89 Days Delinquent
Delinquent loans
Delinquent	$ 1,033
Number of loans, 60-89 Days Delinquent | loan	1
Successor | Greater than 90 Days Delinquent
Delinquent loans
Delinquent	$ 0
Number of loans, Greater than 90 Days Delinquent | reinsurer	0
Predecessor
Delinquent loans
Delinquent		$ 10,456
Number of loans, Total Delinquent | reinsurer		5
Predecessor | 30-59 Days Delinquent
Delinquent loans
Delinquent		$ 8,972
Number of loans, 30-59 Days Delinquent | reinsurer		4
Predecessor | 60-89 Days Delinquent
Delinquent loans
Delinquent		$ 0
Number of loans, 60-89 Days Delinquent | loan		0
Predecessor | Greater than 90 Days Delinquent
Delinquent loans
Delinquent		$ 1,484
Number of loans, Greater than 90 Days Delinquent | reinsurer		1

MORTGAGE LOANS (Details 4)

MORTGAGE LOANS (Details 4) - Commercial mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commercial mortgage loans:
Maximum number of days accrued interest on impaired loans	90 days
Successor
Recorded Investment
With no related allowance recorded, recorded investment	$ 1,694
With an allowance recorded, recorded investment	0
Unpaid Principal Balance
With no related allowance recorded, unpaid principal balance	1,728
With an allowance recorded, unpaid principal balance	0
Related Allowance
With an allowance recorded, related allowance	0
Average Recorded Investment
With no related allowance recorded, average recorded investment	847
With an allowance recorded, average recorded investment	0
Interest Income Recognized
With no related allowance recorded, interest income recognized	104
With an allowance recorded, interest income recognized	0
Cash Basis Interest Income
With no related allowance recorded, cash basis interest income	117
With an allowance recorded, recorded investment	$ 0
Predecessor
Recorded Investment
With no related allowance recorded, recorded investment		$ 0
With an allowance recorded, recorded investment		19,632
Unpaid Principal Balance
With no related allowance recorded, unpaid principal balance		0
With an allowance recorded, unpaid principal balance		20,603
Related Allowance
With an allowance recorded, related allowance		5,720
Average Recorded Investment
With no related allowance recorded, average recorded investment		0
With an allowance recorded, average recorded investment		3,272
Interest Income Recognized
With no related allowance recorded, interest income recognized		0
With an allowance recorded, interest income recognized		1,224
Cash Basis Interest Income
With no related allowance recorded, cash basis interest income		0
With an allowance recorded, recorded investment		$ 1,280

MORTGAGE LOANS (Details 5)

MORTGAGE LOANS (Details 5) - Predecessor - Commercial mortgage loans $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)loan
Troubled debt restructuring:
Number of Contracts | loan	6
Pre-Modification Outstanding Recorded Investment	$ 28,648
Post-Modification Outstanding Recorded Investment	$ 19,593

DEFERRED POLICY ACQUISITION C87

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Successor
Balances and changes in DAC
Balance, beginning of period		$ 0
Capitalization of commissions, sales, and issue expenses		306,237
Amortization		(24,699)
Change in unrealized investment gains and losses		9,959
Balance, end of period	$ 0	291,497	$ 291,497
Balances and changes in VOBA
Balance, beginning of period		1,278,063
Amortization		(70,367)
Change in unrealized gains and losses		69,226
Other		(6,046)
Balance, end of period	1,278,063	1,270,876	1,270,876
Expected amortization of VOBA for the next five years
2,016			131,942
2,017			122,210
2,018			112,332
2,019			96,942
2,020			80,542
Predecessor
Balances and changes in DAC
Balance, beginning of period	2,653,065	2,580,135	2,653,065	$ 2,720,604
Capitalization of commissions, sales, and issue expenses	22,820			293,672
Amortization	1,080			(194,517)
Change in unrealized investment gains and losses	(96,830)			(166,694)
Balance, end of period	2,580,135			2,653,065
Balances and changes in VOBA
Balance, beginning of period	501,981	$ 416,669	$ 501,981	756,018
Amortization	(5,895)			(113,803)
Change in unrealized gains and losses	(79,417)			(140,234)
Other	0			0
Balance, end of period	$ 416,669			$ 501,981

GOODWILL (Detail)

GOODWILL (Detail) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Changes in the carrying amount of goodwill
Decrease in goodwill		$ 3,300
Predecessor
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 77,577		$ 80,675
Tax benefit of excess tax goodwill			(3,098)
Balance at the end of the period			77,577
Decrease in goodwill	300
Predecessor | Acquisitions
Changes in the carrying amount of goodwill
Balance at the beginning of the period	29,419		32,517
Tax benefit of excess tax goodwill			(3,098)
Balance at the end of the period			29,419
Predecessor | Asset Protection
Changes in the carrying amount of goodwill
Balance at the beginning of the period	48,158		48,158
Tax benefit of excess tax goodwill			0
Balance at the end of the period			$ 48,158
Successor
Changes in the carrying amount of goodwill
Balance at the beginning of the period		735,700
Balance at the end of the period	$ 735,700	732,443
Successor | Life Marketing
Changes in the carrying amount of goodwill
Decrease in goodwill		$ 3,300

CERTAIN NONTRADITIONAL LONG-D89

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Successor
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances						$ 12,829,188
Successor | Annuity account | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Average attained age of contract holders			66 years
Percentage of variable annuity business reinsured			100.00%
Successor | Annuity account | Acquisitions | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable						$ 12,800
Successor | Annuity account | Guaranteed minimum death benefits (GMDB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate at which last anniversary date account value is compounded (as a percent)						5.00%
Separate account balances						$ 12,200,000
Mean investment performance (as a percent)						5.87%
Average discount rate (as a percent)						6.00%
Guaranteed amount payable						$ 283,500
Guaranteed amount payable with GMDB reserve	$ 23,893	$ 29,931	$ 29,931			$ 29,931
Average attained age of contract holders			69 years
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Beginning balance		23,893
Incurred guarantee benefits		8,285
Less: Paid guarantee benefits		2,247
Ending balance	23,893	29,931	$ 29,931
Successor | Annuity account | Guaranteed minimum death benefits (GMDB) | Minimum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Lapse rate						2.20%
Successor | Annuity account | Guaranteed minimum death benefits (GMDB) | Maximum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Lapse rate						33.00%
Successor | Annuity account | Guaranteed minimum death benefits (GMDB) | Annuities
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable						$ 266,900
Guaranteed amount payable with GMDB reserve		33,100	33,100			33,100
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Ending balance		33,100	33,100
Successor | Annuity account | Guaranteed minimum death benefits (GMDB) | Acquisitions
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable						16,600
Guaranteed amount payable with GMDB reserve		300	300			300
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Ending balance		300	300
Successor | Annuity account | Guaranteed minimum withdrawal benefits (GMWB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances						$ 9,300,000
Predecessor
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances							$ 13,157,429
Predecessor | Annuity account | Guaranteed minimum death benefits (GMDB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable with GMDB reserve	21,695	23,759	21,695	$ 13,608	$ 19,606		$ 21,695
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Beginning balance	21,695	$ 23,759	$ 21,695	13,608	19,606
Incurred guarantee benefits	2,506			10,130	(3,133)
Less: Paid guarantee benefits	442			2,043	2,865
Ending balance	$ 23,759			$ 21,695	$ 13,608

CERTAIN NONTRADITIONAL LONG-D90

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Details 2) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Activity in the Company's deferred sales inducement asset
Deferred asset, beginning of period		$ 0
Amounts deferred		14,557
Amortization		(2,801)
Deferred asset, end of period	$ 0	11,756
Successor | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		12,660,894
Successor | Equity mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		5,476,366
Successor | Fixed income mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		7,184,528
Predecessor
Activity in the Company's deferred sales inducement asset
Deferred asset, beginning of period	155,150	$ 154,093	$ 146,651	$ 143,949
Amounts deferred	82		18,302	15,274
Amortization	(1,139)		(9,803)	(12,572)
Deferred asset, end of period	$ 154,093		155,150	$ 146,651
Predecessor | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts			12,971,792
Predecessor | Equity mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts			7,834,480
Predecessor | Fixed income mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts			$ 5,137,312

REINSURANCE (Details)

REINSURANCE (Details)	12 Months Ended
	Dec. 31, 2015reinsurer	Dec. 31, 2008USD ($)	Dec. 31, 2005USD ($)
Concentrated credit risk
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	20.00%
Life insurance in-force reinsured, concentrated number of reinsurers | reinsurer	3
Single insured life
REINSURANCE
Amount of insurance retained before revision			$ 500,000
Amount of insurance retained - certain newly issued traditional life products			$ 1,000,000
Amount of insurance retained - certain traditional and universal life products		$ 2,000,000
Successor
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	48.00%

REINSURANCE (Details 2)

REINSURANCE (Details 2) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Net life insurance in-force
Direct life insurance in-force		$ 727,705,256
Amounts assumed from other companies		39,546,742
Amounts ceded to other companies		(368,142,294)
Net Amount		$ 399,109,704
Percentage of amount assumed to net		9.90%
Effect of reinsurance on premiums written and earned
Gross Amount		$ 2,659,386
Ceded to Other Companies		(1,174,871)
Assumed from Other Companies		333,436
Net Amount		1,817,951
Reinsurance receivables		5,300,000
Ceded benefits which are recoverable from reinsurers		77,900
Receivables related to insurance assumed		64,900
Successor | Life insurance
Effect of reinsurance on premiums written and earned
Gross Amount		2,360,643
Ceded to Other Companies		(1,058,706)
Assumed from Other Companies		308,280
Net Amount		$ 1,610,217
Percentage of amount assumed to net		19.10%
Annuity policy fees		$ 77,200
Successor | Accident/health insurance
Effect of reinsurance on premiums written and earned
Gross Amount		70,243
Ceded to Other Companies		(36,871)
Assumed from Other Companies		18,252
Net Amount		$ 51,624
Percentage of amount assumed to net		35.40%
Successor | Property and liability insurance
Effect of reinsurance on premiums written and earned
Gross Amount		$ 228,500
Ceded to Other Companies		(79,294)
Assumed from Other Companies		6,904
Net Amount		$ 156,110
Percentage of amount assumed to net		4.40%
Predecessor
Net life insurance in-force
Direct life insurance in-force			$ 721,036,332	$ 726,697,151
Amounts assumed from other companies			43,237,358	46,752,176
Amounts ceded to other companies			(388,890,060)	(416,809,287)
Net Amount			$ 375,383,630	$ 356,640,040
Percentage of amount assumed to net			11.50%	13.10%
Effect of reinsurance on premiums written and earned
Gross Amount	$ 229,506		$ 2,903,656	$ 2,628,133
Ceded to Other Companies	(91,632)		(1,395,743)	(1,387,437)
Assumed from Other Companies	31,076		379,413	339,189
Net Amount	168,950		1,887,326	1,579,885
Reinsurance receivables			5,900,000
Ceded benefits which are recoverable from reinsurers			120,500
Receivables related to insurance assumed			65,800
Predecessor | Life insurance
Effect of reinsurance on premiums written and earned
Gross Amount	204,185		2,603,956	2,371,872
Ceded to Other Companies	(80,657)		(1,279,908)	(1,299,631)
Assumed from Other Companies	28,601		349,934	306,921
Net Amount	$ 152,129		$ 1,673,982	$ 1,379,162
Percentage of amount assumed to net	18.80%		20.90%	22.30%
Annuity policy fees	$ 7,700		$ 92,800	$ 88,700
Predecessor | Accident/health insurance
Effect of reinsurance on premiums written and earned
Gross Amount	6,846		81,037	45,262
Ceded to Other Companies	(4,621)		(42,741)	(20,011)
Assumed from Other Companies	1,809		20,804	24,291
Net Amount	$ 4,034		$ 59,100	$ 49,542
Percentage of amount assumed to net	44.80%		35.20%	49.00%
Predecessor | Property and liability insurance
Effect of reinsurance on premiums written and earned
Gross Amount	$ 18,475		$ 218,663	$ 210,999
Ceded to Other Companies	(6,354)		(73,094)	(67,795)
Assumed from Other Companies	666		8,675	7,977
Net Amount	$ 12,787		$ 154,244	$ 151,181
Percentage of amount assumed to net	5.20%		5.60%	5.30%

REINSURANCE (Details 3)

REINSURANCE (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Reinsurance
Reinsurance Recoverables	$ 5,307,556
Successor | Concentrated credit risk | Security Life of Denver Insurance Company | A
Reinsurance
Reinsurance Recoverables	800,600
Successor | Concentrated credit risk | Swiss Re Life & Health America, Inc. | A+
Reinsurance
Reinsurance Recoverables	719,200
Successor | Concentrated credit risk | Lincoln National Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables	546,000
Successor | Concentrated credit risk | Transamerica Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables	396,600
Successor | Concentrated credit risk | RGA Reinsurance Company | A+
Reinsurance
Reinsurance Recoverables	303,500
Successor | Concentrated credit risk | SCOR Global Life USA Reinsurance Company | A
Reinsurance
Reinsurance Recoverables	320,400
Successor | Concentrated credit risk | American United Life Insurance Company | A+
Reinsurance
Reinsurance Recoverables	314,200
Successor | Concentrated credit risk | Scottish Re (U.S.), Inc.
Reinsurance
Reinsurance Recoverables	268,600
Successor | Concentrated credit risk | Centre Reinsurance (Bermuda) Ltd
Reinsurance
Reinsurance Recoverables	247,600
Successor | Concentrated credit risk | Employers Reassurance Corporation | A-
Reinsurance
Reinsurance Recoverables	$ 224,400
Predecessor
Reinsurance
Reinsurance Recoverables		$ 5,907,662
Predecessor | Concentrated credit risk | Security Life of Denver Insurance Company | A
Reinsurance
Reinsurance Recoverables		842,100
Predecessor | Concentrated credit risk | Swiss Re Life & Health America, Inc. | A+
Reinsurance
Reinsurance Recoverables		820,900
Predecessor | Concentrated credit risk | Lincoln National Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables		556,300
Predecessor | Concentrated credit risk | Transamerica Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables		497,700
Predecessor | Concentrated credit risk | RGA Reinsurance Company | A+
Reinsurance
Reinsurance Recoverables		412,400
Predecessor | Concentrated credit risk | SCOR Global Life USA Reinsurance Company | A
Reinsurance
Reinsurance Recoverables		411,800
Predecessor | Concentrated credit risk | American United Life Insurance Company | A+
Reinsurance
Reinsurance Recoverables		336,100
Predecessor | Concentrated credit risk | Scottish Re (U.S.), Inc.
Reinsurance
Reinsurance Recoverables		298,000
Predecessor | Concentrated credit risk | Centre Reinsurance (Bermuda) Ltd
Reinsurance
Reinsurance Recoverables		260,900
Predecessor | Concentrated credit risk | Employers Reassurance Corporation | A-
Reinsurance
Reinsurance Recoverables		$ 254,300

DEBT AND OTHER OBLIGATIONS (Det

DEBT AND OTHER OBLIGATIONS (Details)

Feb. 02, 2015USD ($)

Feb. 01, 2015USD ($)

Oct. 10, 2012USD ($)

Jan. 31, 2015USD ($)

Dec. 31, 2015USD ($)reinsurer

Dec. 31, 2015USD ($)reinsurerinstallment

Dec. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Jun. 25, 2014USD ($)

Aug. 07, 2013USD ($)

Dec. 10, 2010USD ($)

Apr. 23, 2010USD ($)

Credit facility

Debt Instrument [Line Items]

Line of credit, maximum borrowing capacity

$ 750,000,000

Line of credit, maximum borrowing capacity to be granted upon entity's request

$ 1,000,000,000

Facility fee percentage

0.175%

2012 Credit Facility | Administrative agent's prime rate

Debt Instrument [Line Items]

Base of floating rate interest payments

Administrative Agent's prime rate

2012 Credit Facility | Federal funds rate

Debt Instrument [Line Items]

Base of floating rate interest payments

Federal Funds rate

Interest rate added to the base rate (as a percent)

0.50%

2012 Credit Facility | LIBOR One-Month Rate

Debt Instrument [Line Items]

Base of floating rate interest payments

one-month LIBOR

Interest rate added to the base rate (as a percent)

1.00%

2015 Credit Facility

Debt Instrument [Line Items]

Line of credit, maximum borrowing capacity

$ 1,000,000,000

Line of credit, maximum borrowing capacity to be granted upon entity's request

$ 1,250,000,000

Facility fee percentage

0.15%

Credit facility adjusted upon ratings upgrade percentage

0.125%

2015 Credit Facility | Administrative agent's prime rate

Debt Instrument [Line Items]

Base of floating rate interest payments

Administrative Agent's prime rate

2015 Credit Facility | Federal funds rate

Debt Instrument [Line Items]

Base of floating rate interest payments

Federal Funds rate

Interest rate added to the base rate (as a percent)

0.50%

2015 Credit Facility | LIBOR One-Month Rate

Debt Instrument [Line Items]

Base of floating rate interest payments

one month LIBOR

Interest rate added to the base rate (as a percent)

1.00%

PLC | Credit facility

Debt Instrument [Line Items]

Base of floating rate interest payments

LIBOR

PLC | 2015 Credit Facility

Debt Instrument [Line Items]

Base of floating rate interest payments

LIBOR

Golden Gate V and Red Mountain

Debt Instrument [Line Items]

Transaction period of financing for reserves related to a block of universal life insurance policies with secondary guarantees

20 years

Maximum amount to be financed for reserves related to a block of universal life insurance policies with secondary guarantees

$ 945,000,000

Red Mountain

Debt Instrument [Line Items]

Initial principal amount of note for deposit to a reinsurance trust

275,000,000

Maximum principal amount of note for deposit to a reinsurance trust

$ 945,000,000

Credit enhancement period for Red Mountain note

20 years

Golden Gate V

Debt Instrument [Line Items]

Stated interest rate (as a percent)

6.25%

6.25%

Maximum principal amount of non-recourse funding obligation

$ 945,000,000

$ 945,000,000

Golden Gate III Vermont Captive Insurance Company (Golden Gate III)

Debt Instrument [Line Items]

Future scheduled capital contributions

$ 122,500,000

Letter of credit term

15 years

Number of installments in which future scheduled capital contributions is payable | installment

3

Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV)

Debt Instrument [Line Items]

Maximum LOC borrowing capacity

$ 270,000,000

Successor

Debt Instrument [Line Items]

Issuance (repayment) of non-recourse funding obligations

$ 65,000,000

Repurchase of outstanding non recourse funding obligations at discount

0

Repurchase Program Borrowings

Repurchase obligation

$ 438,185,000

$ 438,185,000

Reverse repurchase average daily balance at average interest rate (percent)

0.36%

Successor | 2012 Credit Facility

Debt Instrument [Line Items]

Line of credit, amount outstanding

$ 55,000,000

55,000,000

Successor | Letter of Credit

Debt Instrument [Line Items]

Letters of Credit Outstanding, Amount

0

0

Successor | Non-recourse funding obligations letters of credit, and other temporary borrowings

Repurchase Program Borrowings

Interest expense

$ 106,400,000

Successor | PLC | 2015 Credit Facility

Debt Instrument [Line Items]

Interest rate added to the base rate (as a percent)

1.00%

Line of credit, amount outstanding

$ 485,000,000

$ 485,000,000

Successor | Golden Gate Captive Insurance Company (Golden Gate) | Non-recourse funding obligations

Debt Instrument [Line Items]

Number of series of non-recourse funding obligations | reinsurer

3

3

Non-recourse obligations

$ 800,000,000

$ 800,000,000

Successor | Golden Gate Captive Insurance Company (Golden Gate) | Series A1 non-recourse funding obligations

Debt Instrument [Line Items]

Non-recourse obligations

$ 400,000,000

$ 400,000,000

Stated interest rate (as a percent)

7.375%

7.375%

Successor | Golden Gate Captive Insurance Company (Golden Gate) | Series A2 non-recourse funding obligations

Debt Instrument [Line Items]

Non-recourse obligations

$ 100,000,000

$ 100,000,000

Stated interest rate (as a percent)

8.00%

8.00%

Successor | Golden Gate Captive Insurance Company (Golden Gate) | Series A3 non-recourse funding obligations

Debt Instrument [Line Items]

Non-recourse obligations

$ 300,000,000

$ 300,000,000

Stated interest rate (as a percent)

8.45%

8.45%

Successor | Golden Gate II Captive Insurance Company (Golden Gate II)

Debt Instrument [Line Items]

Outstanding non-recourse funding obligations

$ 575,000,000

$ 575,000,000

Non-recourse funding obligations held by external parties

144,900,000

144,900,000

Non-recourse funding obligations held by nonconsolidated affiliates

145,300,000

145,300,000

Non-recourse funding obligations held by consolidated subsidiaries of the Company

284,800,000

284,800,000

Payments made under the agreements

0

Amount of collateralized support agreement obligations

1,900,000

1,900,000

Successor | Red Mountain

Debt Instrument [Line Items]

Principal balance of note

500,000,000

500,000,000

Issuance (repayment) of non-recourse funding obligations

0

Successor | Golden Gate V

Debt Instrument [Line Items]

Future scheduled capital contributions

134,200,000

Principal amount of note to be issued

500,000,000

500,000,000

Successor | Golden Gate III Vermont Captive Insurance Company (Golden Gate III) | Letter of Credit

Debt Instrument [Line Items]

Letters of Credit Outstanding, Amount

935,000,000

935,000,000

Repayments of debt

0

Successor | Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV)

Debt Instrument [Line Items]

Maximum LOC borrowing capacity

780,000,000

780,000,000

Maximum stated amount up to which LOC may be increased

$ 790,000,000

790,000,000

Letter of credit term

12 years

Successor | Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV) | Letter of Credit

Debt Instrument [Line Items]

Repayments of debt

0

Predecessor

Debt Instrument [Line Items]

Issuance (repayment) of non-recourse funding obligations

$ 0

$ 32,348,000

$ 46,000,000

Repurchase of outstanding non recourse funding obligations at discount

$ 0

37,700,000

68,500,000

Gain from repurchase of outstanding non recourse funding obligations

7,400,000

15,400,000

Repurchase Program Borrowings

Repurchase obligation

$ 50,000,000

Reverse repurchase average daily balance at average interest rate (percent)

0.20%

0.11%

Reverse repurchase liability average interest rate (percent)

0.16%

Predecessor | Non-recourse funding obligations letters of credit, and other temporary borrowings

Repurchase Program Borrowings

Interest expense

$ 10,000,000

$ 118,600,000

$ 111,400,000

Predecessor | PLC | 2012 Credit Facility

Debt Instrument [Line Items]

Base of floating rate interest payments

LIBOR

Interest rate added to the base rate (as a percent)

1.20%

Line of credit, amount outstanding

$ 450,000,000

Predecessor | Golden Gate III Vermont Captive Insurance Company (Golden Gate III)

Debt Instrument [Line Items]

Maximum LOC borrowing capacity

$ 915,000,000

$ 710,000,000

$ 505,000,000

Maximum stated amount up to which LOC may be increased

$ 935,000,000

$ 720,000,000

$ 610,000,000

Repurchase Program Borrowings

Repurchase Program Borrowings

Reverse repurchase maximum balance outstanding

633,700,000

Repurchase Program Borrowings | Successor

Repurchase Program Borrowings

Fair value of securities pledged under the repurchase program

$ 479,900,000

479,900,000

Repurchase obligation

438,200,000

438,200,000

Reverse repurchase maximum balance outstanding

912,700,000

912,700,000

Reverse repurchase average daily balance

$ 540,300,000

$ 540,300,000

Repurchase Program Borrowings | Predecessor

Repurchase Program Borrowings

Reverse repurchase maximum balance outstanding

175,000,000

Reverse repurchase average daily balance

$ 77,400,000

470,400,000

Reverse repurchase balance outstanding

$ 50,000,000

Maximum | Repurchase Program Borrowings

Repurchase Program Borrowings

Term of financing agreement

90 days

DEBT AND OTHER OBLIGATIONS - No

DEBT AND OTHER OBLIGATIONS - Non-recourse Funding Obligations Outstanding (Details) - USD ($)	Jan. 15, 2016	Dec. 31, 2015
Successor
Debt Instrument [Line Items]
Non-recourse funding obligations		$ 1,951,563,000
Successor | Golden Gate Captive Insurance Company (Golden Gate)
Debt Instrument [Line Items]
Non-recourse funding obligations		$ 1,148,237,000
Year to date weighted average interest rate		4.66%
Successor | Golden Gate II Captive Insurance Company (Golden Gate II)
Debt Instrument [Line Items]
Non-recourse funding obligations		$ 236,123,000
Year to date weighted average interest rate		1.22%
Successor | Golden Gate V
Debt Instrument [Line Items]
Non-recourse funding obligations		$ 564,679,000
Year to date weighted average interest rate		5.12%
Successor | MONY
Debt Instrument [Line Items]
Non-recourse funding obligations		$ 2,524,000
Year to date weighted average interest rate		6.19%
Subsequent events | Financing Agreement With Golden Gate And Syndicate Of Risk Takers
Debt Instrument [Line Items]
Term of financing agreement	18 years
Financing capacity under the agreement	$ 2,188,000,000
Surplus Notes | Subsequent events | Steel City Notes | Golden Gate
Debt Instrument [Line Items]
Amount of debt issued	2,188,000,000
Surplus Notes | Subsequent events | Golden Gate Surplus Notes | Steel City
Debt Instrument [Line Items]
Amount of debt issued	$ 2,188,000,000

DEBT AND OTHER OBLIGATIONS - Re

DEBT AND OTHER OBLIGATIONS - Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings (Details) - Successor $ in Thousands	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Total borrowings	$ 479,877
U.S. Treasury and agency securities
Debt Instrument [Line Items]
Total borrowings	108,875
State and municipal securities
Debt Instrument [Line Items]
Total borrowings	0
Other asset-backed securities
Debt Instrument [Line Items]
Total borrowings	0
Corporate securities
Debt Instrument [Line Items]
Total borrowings	0
Equity securities
Debt Instrument [Line Items]
Total borrowings	0
Non-U.S. sovereign debt
Debt Instrument [Line Items]
Total borrowings	0
Mortgage loans
Debt Instrument [Line Items]
Total borrowings	371,002
Overnight and Continuous
Debt Instrument [Line Items]
Total borrowings	479,877
Overnight and Continuous | U.S. Treasury and agency securities
Debt Instrument [Line Items]
Total borrowings	108,875
Overnight and Continuous | State and municipal securities
Debt Instrument [Line Items]
Total borrowings	0
Overnight and Continuous | Other asset-backed securities
Debt Instrument [Line Items]
Total borrowings	0
Overnight and Continuous | Corporate securities
Debt Instrument [Line Items]
Total borrowings	0
Overnight and Continuous | Equity securities
Debt Instrument [Line Items]
Total borrowings	0
Overnight and Continuous | Non-U.S. sovereign debt
Debt Instrument [Line Items]
Total borrowings	0
Overnight and Continuous | Mortgage loans
Debt Instrument [Line Items]
Total borrowings	371,002
Up to 30 days
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | U.S. Treasury and agency securities
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | State and municipal securities
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | Other asset-backed securities
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | Corporate securities
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | Equity securities
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | Non-U.S. sovereign debt
Debt Instrument [Line Items]
Total borrowings	0
Up to 30 days | Mortgage loans
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | U.S. Treasury and agency securities
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | State and municipal securities
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | Other asset-backed securities
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | Corporate securities
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | Equity securities
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | Non-U.S. sovereign debt
Debt Instrument [Line Items]
Total borrowings	0
30 - 90 days | Mortgage loans
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | U.S. Treasury and agency securities
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | State and municipal securities
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | Other asset-backed securities
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | Corporate securities
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | Equity securities
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | Non-U.S. sovereign debt
Debt Instrument [Line Items]
Total borrowings	0
Greater Than 90 days | Mortgage loans
Debt Instrument [Line Items]
Total borrowings	$ 0

COMMITMENTS AND CONTINGENCIES97

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Dec. 31, 2015USD ($)ft²reinsurer	Dec. 31, 2015USD ($)ft²reinsurer	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2015USD ($)
Future minimum rental payments required under operating leases
Estimated net refund in future period						$ 6,200
Administrative and marketing office space
Operating leased assets
Number of cities in which the company leases properties | reinsurer		17	17
Future minimum rental payments required under operating leases
2,016		$ 4,406	$ 4,406
2,017		4,042	4,042
2,018		3,829	3,829
2,019		3,644	3,644
2,020		3,600	3,600
Thereafter		$ 13,145	$ 13,145
Administrative and marketing office space | Minimum
Operating leased assets
Lease period			3 years
Administrative and marketing office space | Maximum
Operating leased assets
Lease period			10 years
Administrative and marketing office space Birmingham excluding home office
Operating leased assets
Area leased in Birmingham (in square feet) | ft²		24,090	24,090
Building contiguous to home office
Future minimum rental payments required under operating leases
2,016		$ 1,385	$ 1,385
2,017		1,381	1,381
2,018		76,356	76,356
Approximate price for which the company may purchase building at the end of lease term		75,000	$ 75,000
Base rate			LIBOR
Successor
Future minimum rental payments required under operating leases
Outstanding mortgage loan commitments		$ 601,900	$ 601,900
Average rate (as a percent)		4.43%	4.43%
Successor | Administrative and marketing office space
Operating leased assets
Rental expense		$ 10,200
Aggregate annualized rent			$ 6,300
Predecessor
Operating leased assets
Rental expense	$ 900
Future minimum rental payments required under operating leases
Outstanding mortgage loan commitments				$ 537,700
Average rate (as a percent)				4.61%
Predecessor | Administrative and marketing office space
Operating leased assets
Rental expense				$ 10,800	$ 11,200

COMMITMENTS AND CONTINGENCIES98

COMMITMENTS AND CONTINGENCIES (Details 2) - Targeted multi-state examination	Dec. 31, 2015USD ($)
Commitment and contingency
Administrative and/or examination fees which the insurance regulators could demand, minimum	$ 0
Administrative and/or examination fees which the insurance regulators could demand, maximum	$ 4,500,000

SHAREOWNER'S EQUITY (Details)

SHAREOWNER'S EQUITY (Details) - PLC - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SHAREOWNER'S EQUITY
Number of shares of non-voting preferred stock owned in the subsidiary, PL&A (in shares)	2,000
Amount of PL&A statutory earnings in immediately the preceding fiscal year, which must be exceeded for preferred stock to pay noncumulative participating dividends	$ 1,000,000
Dividends received by PLC on preferred stock holdings in PL & A	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - Predecessor $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015installment$ / sharesshares	Dec. 31, 2014USD ($)award$ / sharesshares	Dec. 31, 2013USD ($)award$ / sharesshares	Dec. 31, 2012USD ($)$ / sharesshares
Stock-based compensation
Performance shares award issued		203,295
Performance awards
Stock-based compensation
Period over which ROE is calculated		3 years	3 years
Minimum percentage of the company's ROE to earn awards under 2014 performance awards		10.50%	10.00%
Number of awards earned when ROE is below specified floor percentage | award		0	0
Minimum percentage of Company's ROE to earn maximum awards under 2014 performance awards		12.00%	11.50%
Number of shares of common stock assumed to be payable with respect to each outstanding award		1
Performance shares award issued		203,295	298,500	306,100
Estimated fair value of performance shares issued | $		$ 10,484	$ 9,328	$ 8,608
SARs
Stock-based compensation
Performance shares award issued		0	0
Exercisable period of grants from grant date	5 years
Expiration period from date of grant	10 years
Weighted-Average Base Price Per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 30.41	$ 23.08	$ 22.15
SARs exercised / forfeited (in dollars per share) | $ / shares		22.07	18.54
Balance at the end of the period (in dollars per share) | $ / shares		$ 30.41	$ 23.08	$ 22.15
No. of SARs
SARs outstanding, beginning balance	157,628	1,305,101	1,641,167
SARs exercised / forfeited		(1,147,473)	(336,066)
SARs outstanding, ending balance		157,628	1,305,101	1,641,167
SARs | Minimum
Stock-based compensation
Number of annual installments to exercise stock appreciation rights | installment	3
SARs | Maximum
Stock-based compensation
Number of annual installments to exercise stock appreciation rights | installment	4

STOCK-BASED COMPENSATION (De101

STOCK-BASED COMPENSATION (Details 2) - Predecessor	12 Months Ended
	Dec. 31, 2014$ / sharesshares
Base Price - $41.05
Stock-based compensation
Base Price (in dollars per share) | $ / shares	$ 41.05
SARs Outstanding (in shares)	10,000
Remaining Life in Years	1 year
Currently Exercisable (in shares)	10,000
Base Price - $43.46
Stock-based compensation
Base Price (in dollars per share) | $ / shares	$ 43.46
SARs Outstanding (in shares)	22,300
Remaining Life in Years	3 years
Currently Exercisable (in shares)	22,300
Base Price - $ 38.59
Stock-based compensation
Base Price (in dollars per share) | $ / shares	$ 38.59
SARs Outstanding (in shares)	52,000
Remaining Life in Years	4 years
Currently Exercisable (in shares)	52,000
Base Price - $3.50
Stock-based compensation
Base Price (in dollars per share) | $ / shares	$ 3.50
SARs Outstanding (in shares)	46,110
Remaining Life in Years	5 years
Currently Exercisable (in shares)	46,110
Base Price - $18.36
Stock-based compensation
Base Price (in dollars per share) | $ / shares	$ 18.36
SARs Outstanding (in shares)	27,218
Remaining Life in Years	6 years
Currently Exercisable (in shares)	27,218

STOCK-BASED COMPENSATION (De102

STOCK-BASED COMPENSATION (Details 3) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restricted stock units | Vesting after three years from grant date | PLC
Grant date fair values
Vesting percentage	50.00%
Restricted stock units | Vesting afer four years from grant date | PLC
Grant date fair values
Vesting percentage	50.00%
Predecessor
Grant date fair values
Awards issued (in shares)		203,295
Assumptions used in the model for SARs granted
Expenses recorded for stock-based compensation plans		$ 25,900	$ 15,700
Total compensation cost related to non-vested stock-based compensation not yet recognized		$ 27,000
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		2,154,679
Weighted-average exercise price of outstanding options, warrants and rights (in dollars per share)		$ 22.07
Number of securities remaining available for future issuance under equity compensation plans, excluding securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		4,092,546
Predecessor | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		1,960,959
Weighted-average exercise price of outstanding options, warrants and rights (in dollars per share)		$ 22.07
Number of securities remaining available for future issuance under equity compensation plans, excluding securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		4,092,546
Predecessor | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		193,720
Predecessor | Deferred Compensation Plan for Officers | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		475,386
Predecessor | Deferred Compensation Plan for Officers | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		41,011
Predecessor | Deferred Compensation Plan for Directors Who Are Not Employees of the Company | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		162,429
Predecessor | Deferred Compensation Plan for Directors Who Are Not Employees of the Company | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		152,709
Predecessor | Performance awards
Grant date fair values
Awards issued (in shares)		203,295	298,500	306,100
Fair values of awards at grant date		$ 10,484	$ 9,328	$ 8,608
Additional equity compensation plan information
Number of shares of common stock assumed to be payable with respect to each outstanding award		1
Predecessor | Performance awards | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		907,487
Predecessor | SARs
Grant date fair values
Awards issued (in shares)		0	0
Assumptions used in the model for SARs granted
Expected volatility rate		69.40%
Expected risk-free interest rate (as a percent)		2.60%
Expected dividend rate (as a percent)		2.40%
Expected forfeiture rate (as a percent)		0.00%
Vesting period	5 years
Predecessor | SARs | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		102,458
Number of shares of common stock assumed to be payable with respect to each outstanding award		1
Predecessor | Restricted stock units
Grant date fair values
Awards issued (in shares)		98,700	166,850
Fair values of awards at grant date		$ 5,100	$ 5,500
Predecessor | Restricted stock units | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)		313,199
Predecessor | Restricted stock units | Vesting after three years from grant date
Assumptions used in the model for SARs granted
Vesting period		3 years
Predecessor | Restricted stock units | Vesting afer four years from grant date
Assumptions used in the model for SARs granted
Vesting period		4 years

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - PLC - USD ($) $ in Millions	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015
EMPLOYEE BENEFIT PLANS
Threshold age plus vesting period of active employees to determine type of benefit eligibility			55 years
Adjusted funding target percentage to be maintained, minimum			80.00%
Percentage of funded status to be maintained for PBGC reporting purposes			80.00%
Minimum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer			$ 1
Maximum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer			$ 10
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Period for which annualized returns are obtained for each asset class			25 years
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Contributions by employer for prior plan year	$ 2.2
Successor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Contributions by employer for prior plan year		$ 1.4

EMPLOYEE BENEFIT PLANS - Define

EMPLOYEE BENEFIT PLANS - Defined Benefit Pension Plan and Unfunded Excess Benefit Plan (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year		$ 250,133	$ 250,133
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		281,099
Service cost		11,220
Interest cost		9,072
Amendments		0
Actuarial loss/(gain)		(19,235)
Benefits paid		(13,935)
Projected benefit obligation at end of year	$ 281,099	268,221	268,221
Change in plan assets:
Fair value of plan assets at beginning of year		201,820
Actual return on plan assets		6,751
Employer contributions		1,406
Benefits paid		(13,935)
Fair value of plan assets at end of year	201,820	196,042	196,042
After reflecting FASB guidance:
Funded status		(72,179)	(72,179)
Amounts recognized in the balance sheet:
Other liabilities		(72,179)	(72,179)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss/(gain)		(12,772)	(12,772)
Prior service cost/(credit)		0	0
Total amounts recognized in AOCI		(12,772)	(12,772)
Successor | Unfunded Excess Benefit Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year		54,196	54,196
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		51,243
Service cost		1,229
Interest cost		1,499
Amendments		0
Actuarial loss/(gain)		4,484
Benefits paid		(1,470)
Projected benefit obligation at end of year	51,243	56,985	56,985
Change in plan assets:
Fair value of plan assets at beginning of year		0
Actual return on plan assets		0
Employer contributions		1,470
Benefits paid		(1,470)
Fair value of plan assets at end of year	0	0	0
After reflecting FASB guidance:
Funded status		(56,985)	(56,985)
Amounts recognized in the balance sheet:
Other liabilities		(56,985)	(56,985)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss/(gain)		4,484	4,484
Prior service cost/(credit)		0	0
Total amounts recognized in AOCI		4,484	4,484
Successor | Retiree medical plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	247		247
Service cost			1
Interest cost			2
Actuarial loss/(gain)			(113)
Plan participant contributions			141
Benefits paid			(141)
Projected benefit obligation at end of year		137	137	$ 247
Change in plan assets:
Benefits paid			(141)
Successor | Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		9,781
Service cost		138
Interest cost		336
Actuarial loss/(gain)		(894)
Benefits paid		(298)
Projected benefit obligation at end of year	9,781	9,063	9,063
Change in plan assets:
Benefits paid		(298)
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	262,290			249,453
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	267,331	281,099	267,331	219,152
Service cost	974			9,411	$ 9,345
Interest cost	1,002			10,493	8,985
Amendments	0			0
Actuarial loss/(gain)	12,384			38,110
Benefits paid	(592)			(9,835)
Projected benefit obligation at end of year	281,099			267,331	219,152
Change in plan assets:
Fair value of plan assets at beginning of year	203,772	201,820	203,772	180,173
Actual return on plan assets	(3,525)			17,921
Employer contributions	2,165			15,513
Benefits paid	(592)			(9,835)
Fair value of plan assets at end of year	201,820			203,772	180,173
After reflecting FASB guidance:
Funded status	(79,279)			(63,559)
Amounts recognized in the balance sheet:
Other liabilities	(79,279)			(63,559)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss/(gain)	96,965			80,430
Prior service cost/(credit)	(1,001)			(1,033)
Total amounts recognized in AOCI	95,964			79,397
Predecessor | Unfunded Excess Benefit Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	49,251			47,368
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	49,575	51,243	49,575	39,679
Service cost	95			954	1,037
Interest cost	140			1,696	1,387
Amendments	0			0
Actuarial loss/(gain)	1,555			9,153
Benefits paid	(122)			(1,907)
Projected benefit obligation at end of year	51,243			49,575	39,679
Change in plan assets:
Fair value of plan assets at beginning of year	0	0	0	0
Actual return on plan assets	0			0
Employer contributions	122			1,907
Benefits paid	(122)			(1,907)
Fair value of plan assets at end of year	0			0	0
After reflecting FASB guidance:
Funded status	(51,243)			(49,575)
Amounts recognized in the balance sheet:
Other liabilities	(51,243)			(49,575)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss/(gain)	22,401			20,983
Prior service cost/(credit)	23			24
Total amounts recognized in AOCI	22,424			21,007
Predecessor | Retiree medical plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	247		247	447
Service cost				2
Interest cost				4
Actuarial loss/(gain)				30
Plan participant contributions				254
Benefits paid				(490)
Projected benefit obligation at end of year				247	447
Change in plan assets:
Benefits paid				(490)
Predecessor | Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	9,288	$ 9,781	$ 9,288	8,653
Service cost	12			97
Interest cost	39			416
Actuarial loss/(gain)	511			694
Benefits paid	(69)			(572)
Projected benefit obligation at end of year	9,781			9,288	$ 8,653
Change in plan assets:
Benefits paid	$ (69)			$ (572)

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2015
Successor | Defined Benefit Pension Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	4.29%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.95%
Expected long-term return on plan assets (as a percent)	7.50%
Successor | Defined Benefit Pension Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	4.75%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	4.75%
Successor | Defined Benefit Pension Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	3.75%
Successor | Unfunded Excess Benefit Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.63%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.65%
Successor | Unfunded Excess Benefit Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	4.75%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	4.75%
Successor | Unfunded Excess Benefit Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)	3.75%
Predecessor | Defined Benefit Pension Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)		3.95%		3.55%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)		4.86%	4.07%
Rate of compensation increase (as a percent)		3.00%	3.00%
Expected long-term return on plan assets (as a percent)		7.50%	7.50%
Predecessor | Defined Benefit Pension Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)		4.75%
Predecessor | Defined Benefit Pension Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)		3.75%
Predecessor | Unfunded Excess Benefit Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)		3.65%		3.26%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)		4.30%	3.37%
Rate of compensation increase (as a percent)		4.00%	4.00%
Predecessor | Unfunded Excess Benefit Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)		4.75%
Predecessor | Unfunded Excess Benefit Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)		3.75%

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Average remaining service period used			9 years 4 months 17 days
Unfunded Excess Benefit Plan
EMPLOYEE BENEFIT PLANS
Average remaining service period used			7 years 11 months 16 days
Successor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period		$ 11,220
Interest cost on projected benefit obligation		9,072
Expected return on plan assets		(13,214)
Amortization of prior service cost/(credit)		0
Amortization of actuarial losses		0
Preliminary net periodic benefit cost		7,078
Settlement/curtailment expense		0
Total net periodic benefit cost		7,078
Successor | Unfunded Excess Benefit Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period		1,229
Interest cost on projected benefit obligation		1,499
Expected return on plan assets		0
Amortization of prior service cost/(credit)		0
Amortization of actuarial losses		0
Preliminary net periodic benefit cost		2,728
Settlement/curtailment expense		0
Total net periodic benefit cost		$ 2,728
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period	$ 974			$ 9,411	$ 9,345
Interest cost on projected benefit obligation	1,002			10,493	8,985
Expected return on plan assets	(1,293)			(12,166)	(11,013)
Amortization of prior service cost/(credit)	(33)			(392)	(392)
Amortization of actuarial losses	668			6,821	9,631
Preliminary net periodic benefit cost	1,318			14,167	16,556
Settlement/curtailment expense	0			0	0
Total net periodic benefit cost	1,318			14,167	16,556
Predecessor | Unfunded Excess Benefit Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period	95			954	1,037
Interest cost on projected benefit obligation	140			1,696	1,387
Expected return on plan assets	0			0	0
Amortization of prior service cost/(credit)	1			12	12
Amortization of actuarial losses	138			1,516	1,792
Preliminary net periodic benefit cost	374			4,178	4,228
Settlement/curtailment expense	0			0	928
Total net periodic benefit cost	$ 374			$ 4,178	$ 5,156

EMPLOYEE BENEFIT PLANS - Alloca

EMPLOYEE BENEFIT PLANS - Allocation of Defined Benefit Plan Assets (Details) - Defined Benefit Pension Plan	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash and cash equivalents
Target Allocation for 2016 of plan assets of defined benefit pension plan by category
Target allocation for 2016 (as a percent)	2.00%
Equity securities
Target Allocation for 2016 of plan assets of defined benefit pension plan by category
Target allocation for 2016 (as a percent)	60.00%
Fixed income
Target Allocation for 2016 of plan assets of defined benefit pension plan by category
Target allocation for 2016 (as a percent)	38.00%
Successor
Target Allocation for 2016 of plan assets of defined benefit pension plan by category
Target allocation for 2016 (as a percent)	100.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	100.00%
Successor | Cash and cash equivalents
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	2.00%
Successor | Equity securities
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	61.00%
Successor | Fixed income
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	37.00%
Predecessor
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		100.00%
Predecessor | Cash and cash equivalents
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		4.00%
Predecessor | Equity securities
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		62.00%
Predecessor | Fixed income
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		34.00%

EMPLOYEE BENEFIT PLANS - Def108

EMPLOYEE BENEFIT PLANS - Defined Benefit Plan Assets by Category (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jan. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Total investments	$ 196,042	$ 201,820
Employer contribution receivable	0
Total	196,042
Successor | Defined Benefit Pension Plan | Cash and cash equivalents
EMPLOYEE BENEFIT PLANS
Total investments	3,121
Successor | Defined Benefit Pension Plan | Equity securities: Collective Russell 3000 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments	72,663
Successor | Defined Benefit Pension Plan | Equity securities: Fidelity Spartan 500 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments	52,551
Successor | Defined Benefit Pension Plan | Fixed Income
EMPLOYEE BENEFIT PLANS
Total investments	67,707
Successor | Group life insurance plan | Money market fund
EMPLOYEE BENEFIT PLANS
Total investments	$ 5,653
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Total investments		$ 201,820	$ 203,772	$ 180,173
Employer contribution receivable			2,165
Total			205,937
Predecessor | Defined Benefit Pension Plan | Cash and cash equivalents
EMPLOYEE BENEFIT PLANS
Total investments			7,968
Predecessor | Defined Benefit Pension Plan | Equity securities: Collective Russell 3000 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments			79,660
Predecessor | Defined Benefit Pension Plan | Equity securities: Fidelity Spartan 500 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments			51,848
Predecessor | Defined Benefit Pension Plan | Fixed Income
EMPLOYEE BENEFIT PLANS
Total investments			64,296
Predecessor | Group life insurance plan | Money market fund
EMPLOYEE BENEFIT PLANS
Total investments			$ 5,925

EMPLOYEE BENEFIT PLANS - Plan A

EMPLOYEE BENEFIT PLANS - Plan Asset Fair Value (Details) - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Successor | Defined Benefit Pension Plan
Fair value hierarchy of Plan's assets
Total investments	$ 201,820,000	$ 196,042,000	$ 196,042,000
Amount transferred into Level 3 from Level 2		0
Amount of transfers between Level 1 and Level 2		0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year		201,820,000
Fair value of plan assets at end of year	201,820,000	196,042,000	196,042,000
Successor | Defined Benefit Pension Plan | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments		3,121,000	$ 3,121,000
Redemption Notice Period			1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		3,121,000	$ 3,121,000
Successor | Defined Benefit Pension Plan | Equity index funds
Fair value hierarchy of Plan's assets
Total investments		125,214,000	125,214,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		125,214,000	125,214,000
Successor | Defined Benefit Pension Plan | Equity securities: Collective Russell 3000 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments		72,663,000	$ 72,663,000
Redemption Notice Period			1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		72,663,000	$ 72,663,000
Successor | Defined Benefit Pension Plan | Equity securities: Fidelity Spartan 500 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments		52,551,000	$ 52,551,000
Redemption Notice Period			1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		52,551,000	$ 52,551,000
Successor | Defined Benefit Pension Plan | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments		67,707,000	67,707,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		67,707,000	67,707,000
Successor | Defined Benefit Pension Plan | Level 1
Fair value hierarchy of Plan's assets
Total investments		55,672,000	55,672,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		55,672,000	55,672,000
Successor | Defined Benefit Pension Plan | Level 1 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments		3,121,000	3,121,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		3,121,000	3,121,000
Successor | Defined Benefit Pension Plan | Level 1 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments		52,551,000	52,551,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		52,551,000	52,551,000
Successor | Defined Benefit Pension Plan | Level 1 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Defined Benefit Pension Plan | Level 2
Fair value hierarchy of Plan's assets
Total investments		72,663,000	72,663,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		72,663,000	72,663,000
Successor | Defined Benefit Pension Plan | Level 2 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Defined Benefit Pension Plan | Level 2 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments		72,663,000	72,663,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		72,663,000	72,663,000
Successor | Defined Benefit Pension Plan | Level 2 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Defined Benefit Pension Plan | Level 3
Fair value hierarchy of Plan's assets
Total investments	64,581,000	67,707,000	67,707,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year		64,581,000
Interest income		3,126,000
Transfers from collective short-term investments fund		0
Transfers to collective short-term investments fund		0
Fair value of plan assets at end of year	64,581,000	67,707,000	67,707,000
Successor | Defined Benefit Pension Plan | Level 3 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Defined Benefit Pension Plan | Level 3 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Defined Benefit Pension Plan | Level 3 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments		67,707,000	67,707,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		67,707,000	67,707,000
Successor | Group life insurance plan | Money market fund
Fair value hierarchy of Plan's assets
Total investments		5,653,000	5,653,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Transfers to collective short-term investments fund			0
Fair value of plan assets at end of year		5,653,000	5,653,000
Successor | Group life insurance plan | Level 1 | Money market fund
Fair value hierarchy of Plan's assets
Total investments		5,653,000	5,653,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		5,653,000	5,653,000
Successor | Group life insurance plan | Level 2 | Money market fund
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Successor | Group life insurance plan | Level 3 | Money market fund
Fair value hierarchy of Plan's assets
Total investments		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year		0	0
Predecessor | Defined Benefit Pension Plan
Fair value hierarchy of Plan's assets
Total investments	203,772,000	201,820,000	203,772,000	$ 180,173,000
Amount transferred into Level 3 from Level 2				4,500,000
Amount of transfers between Level 1 and Level 2				0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	203,772,000	201,820,000	203,772,000	180,173,000
Fair value of plan assets at end of year	201,820,000			203,772,000
Predecessor | Defined Benefit Pension Plan | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	7,968,000		7,968,000	$ 7,968,000
Redemption Notice Period				1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	7,968,000		7,968,000
Fair value of plan assets at end of year				$ 7,968,000
Predecessor | Defined Benefit Pension Plan | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	131,508,000		131,508,000	131,508,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	131,508,000		131,508,000
Fair value of plan assets at end of year				131,508,000
Predecessor | Defined Benefit Pension Plan | Equity securities: Collective Russell 3000 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments	79,660,000		79,660,000	$ 79,660,000
Redemption Notice Period				1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	79,660,000		79,660,000
Fair value of plan assets at end of year				$ 79,660,000
Predecessor | Defined Benefit Pension Plan | Equity securities: Fidelity Spartan 500 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments	51,848,000		51,848,000	$ 51,848,000
Redemption Notice Period				1 day
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	51,848,000		51,848,000
Fair value of plan assets at end of year				$ 51,848,000
Predecessor | Defined Benefit Pension Plan | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	64,296,000		64,296,000	64,296,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	64,296,000		64,296,000
Fair value of plan assets at end of year				64,296,000
Predecessor | Defined Benefit Pension Plan | Level 1
Fair value hierarchy of Plan's assets
Total investments	59,816,000		59,816,000	59,816,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	59,816,000		59,816,000
Fair value of plan assets at end of year				59,816,000
Predecessor | Defined Benefit Pension Plan | Level 1 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	7,968,000		7,968,000	7,968,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	7,968,000		7,968,000
Fair value of plan assets at end of year				7,968,000
Predecessor | Defined Benefit Pension Plan | Level 1 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	51,848,000		51,848,000	51,848,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	51,848,000		51,848,000
Fair value of plan assets at end of year				51,848,000
Predecessor | Defined Benefit Pension Plan | Level 1 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Defined Benefit Pension Plan | Level 2
Fair value hierarchy of Plan's assets
Total investments	79,660,000		79,660,000	79,660,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	79,660,000		79,660,000
Fair value of plan assets at end of year				79,660,000
Predecessor | Defined Benefit Pension Plan | Level 2 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Defined Benefit Pension Plan | Level 2 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	79,660,000		79,660,000	79,660,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	79,660,000		79,660,000
Fair value of plan assets at end of year				79,660,000
Predecessor | Defined Benefit Pension Plan | Level 2 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Defined Benefit Pension Plan | Level 3
Fair value hierarchy of Plan's assets
Total investments	64,296,000	64,581,000	64,296,000	56,736,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	64,296,000	$ 64,581,000	64,296,000	56,736,000
Interest income	285,000			3,060,000
Transfers from collective short-term investments fund	0			4,500,000
Transfers to collective short-term investments fund	0			0
Fair value of plan assets at end of year	64,581,000			64,296,000
Predecessor | Defined Benefit Pension Plan | Level 3 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Defined Benefit Pension Plan | Level 3 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Defined Benefit Pension Plan | Level 3 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	64,296,000		64,296,000	64,296,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	64,296,000		64,296,000
Fair value of plan assets at end of year				64,296,000
Predecessor | Group life insurance plan | Money market fund
Fair value hierarchy of Plan's assets
Total investments	5,925,000		5,925,000	5,925,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	5,925,000		5,925,000
Transfers to collective short-term investments fund				0
Fair value of plan assets at end of year				5,925,000
Predecessor | Group life insurance plan | Level 1 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	5,925,000		5,925,000	5,925,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	5,925,000		5,925,000
Fair value of plan assets at end of year				5,925,000
Predecessor | Group life insurance plan | Level 2 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0		0
Fair value of plan assets at end of year				0
Predecessor | Group life insurance plan | Level 3 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	0		0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	$ 0		$ 0
Fair value of plan assets at end of year				$ 0

EMPLOYEE BENEFIT PLANS - Level

EMPLOYEE BENEFIT PLANS - Level 3 Financial Instruments (Details) - Successor - Level 3 - Group deposit administration annuity contract - Contract Value $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Employee benefit plans
Fair value	$ 67,707
Minimum
Employee benefit plans
Contract rate (as a percent)	5.22%
Maximum
Employee benefit plans
Contract rate (as a percent)	5.41%

EMPLOYEE BENEFIT PLANS - Estima

EMPLOYEE BENEFIT PLANS - Estimated Future Benefit Payments (Details) $ in Thousands	Dec. 31, 2015USD ($)
Defined Benefit Pension Plan
Estimated future benefit payments under defined benefit pension plan
2,016	$ 16,947
2,017	18,019
2,018	17,723
2,019	18,517
2,020	19,532
2021-2025	102,176
Unfunded Excess Benefit Plan
Estimated future benefit payments under defined benefit pension plan
2,016	5,470
2,017	7,682
2,018	5,070
2,019	9,097
2,020	4,962
2021-2025	$ 18,888

EMPLOYEE BENEFIT PLANS - Other

EMPLOYEE BENEFIT PLANS - Other Postretirement Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2015	Dec. 31, 2014
EMPLOYEE BENEFIT PLANS
Percentage change in healthcare cost trend assumptions which has no material effect on liability related to prescription drug benefit provided to employees	1.00%
Period for which average and annualized return on short treasury index considered for long term rate of return assumption assessment	25 years
Other Postretirement Benefits | Maximum
EMPLOYEE BENEFIT PLANS
Age of eligibility for limited healthcare benefits	65 years
Retiree medical plan | Minimum
EMPLOYEE BENEFIT PLANS
Age of eligibility for prescription drug benefit	65 years
Group life insurance plan
EMPLOYEE BENEFIT PLANS
Face amount of life insurance benefits funded	$ 50,000
Group life insurance plan | Minimum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	10,000
Group life insurance plan | Maximum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	75,000
Successor | Other Postretirement Benefits
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	$ 100,000
Successor | Retiree medical plan
EMPLOYEE BENEFIT PLANS
Benefit obligation, discount rate (as a percent)	1.54%
Net periodic benefit cost, discount rate (as a percent)	1.27%
Successor | Group life insurance plan
EMPLOYEE BENEFIT PLANS
Benefit obligation, discount rate (as a percent)	4.60%
Net periodic benefit cost, discount rate (as a percent)	4.21%
Benefit obligation, expected long-term return on plan assets (as a percent)	2.75%
Net periodic benefit cost, expected long-term return on plan assets (as a percent)	3.14%
Predecessor | Other Postretirement Benefits
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year			$ 200,000
Predecessor | Retiree medical plan
EMPLOYEE BENEFIT PLANS
Liability related to prescription drug benefit provided to employees	$ 100,000
Predecessor | Group life insurance plan
EMPLOYEE BENEFIT PLANS
Benefit obligation, discount rate (as a percent)		3.79%

EMPLOYEE BENEFIT PLANS - 401(k)

EMPLOYEE BENEFIT PLANS - 401(k) Plan (Details) - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
401 (k) Plan
Employee contribution, maximum percentage of eligible annual compensation		25.00%
Maximum annual contribution by employee		$ 18,000
Minimum age required to be eligible to make catch-up contribution		50 years
Maximum additional contribution over and above regular annual contribution limits		$ 6,000
Maximum employer matching contribution (as a percent)		4.00%
Amount of expenses recorded under a plan that provides supplemental matching contributions in excess of limits imposed		$ 500,000	$ 400,000	$ 500,000
Successor
401 (k) Plan
Expenses recorded due to adopting a cash match for employee contributions to the 401(k) plan	$ 6,300,000
Predecessor
401 (k) Plan
Expenses recorded due to adopting a cash match for employee contributions to the 401(k) plan			$ 6,300,000

EMPLOYEE BENEFIT PLANS - Deferr

EMPLOYEE BENEFIT PLANS - Deferred Compensation Plan (Details) - $ / shares	Feb. 01, 2015	Dec. 31, 2014
EMPLOYEE BENEFIT PLANS
Per share merger consideration (in dollars per share)	$ 70
Predecessor
EMPLOYEE BENEFIT PLANS
Common stock equivalents credited to participants (in shares)		1,109,595

ACCUMULATED OTHER COMPREHENS115

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance		$ 0
Other comprehensive income (loss) before reclassifications		(1,263,453)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		(393)
Amounts reclassified from accumulated other comprehensive income (loss)		17,455
Net current-period other comprehensive income (loss)		(1,246,391)
Ending Balance	$ 0	(1,246,391)
Successor | Unrealized Gains and Losses on Investments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance		0
Other comprehensive income (loss) before reclassifications		(1,263,367)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		(393)
Amounts reclassified from accumulated other comprehensive income (loss)		17,369
Net current-period other comprehensive income (loss)		(1,246,391)
Ending Balance	0	(1,246,391)
Offset to AOCI due to impact of net unrealized losses on insurance assets and liabilities if recognized as income		623,000
Successor | Accumulated Gain and Loss Derivative
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance		0
Other comprehensive income (loss) before reclassifications		(86)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		0
Amounts reclassified from accumulated other comprehensive income (loss)		86
Net current-period other comprehensive income (loss)		0
Ending Balance	0	0
Predecessor
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	1,483,211	1,960,977	$ 538,966	$ 1,811,124
Other comprehensive income (loss) before reclassifications	482,152		983,983	(1,249,682)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(243)		3,498	4,591
Amounts reclassified from accumulated other comprehensive income (loss)	(4,143)		(43,236)	(27,067)
Net current-period other comprehensive income (loss)	477,766		944,245	(1,272,158)
Ending Balance	1,960,977		1,483,211	538,966	$ 1,811,124
Predecessor | Unrealized Gains and Losses on Investments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	1,483,293	1,961,027	540,201	1,814,620
Other comprehensive income (loss) before reclassifications	482,143		983,985	(1,250,416)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(243)		3,498	4,591
Amounts reclassified from accumulated other comprehensive income (loss)	(4,166)		(44,391)	(28,594)
Net current-period other comprehensive income (loss)	477,734		943,092	(1,274,419)
Ending Balance	1,961,027		1,483,293	540,201	1,814,620
Offset to AOCI due to impact of net unrealized losses on insurance assets and liabilities if recognized as income	(492,600)		(504,400)	(189,800)	(204,800)
Predecessor | Accumulated Gain and Loss Derivative
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	(82)	$ (50)	(1,235)	(3,496)
Other comprehensive income (loss) before reclassifications	9		(2)	734
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	0
Amounts reclassified from accumulated other comprehensive income (loss)	23		1,155	1,527
Net current-period other comprehensive income (loss)	32		1,153	2,261
Ending Balance	$ (50)		$ (82)	$ (1,235)	$ (3,496)

ACCUMULATED OTHER COMPREHENS116

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended							11 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded										$ (2,535,388)
Realized investment gains (losses): All other investments										(166,935)
Net impairment losses recognized in earnings										(26,993)
Income before income tax		$ 24,536	$ 109,098	$ 156,121	$ (35,567)					254,188
Tax (expense) or benefit		$ (8,116)	$ (33,824)	$ (42,542)	$ 9,991					(74,491)
Predecessor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded	$ (266,575)										$ (2,786,463)	$ (2,473,988)
Realized investment gains (losses): All other investments	81,153										205,302	(121,537)
Net impairment losses recognized in earnings	(481)										(7,275)	(22,400)
Income before income tax	132,847					$ 230,443	$ 184,120	$ 172,615	$ 151,611		738,789	422,499
Tax (expense) or benefit	(44,325)					$ (78,917)	$ (62,287)	$ (56,572)	$ (49,062)		(246,838)	(130,897)
Gains and losses on derivative instruments | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Successor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded										(131)
Income before income tax										(131)
Tax (expense) or benefit										45
Net of tax										(86)
Gains and losses on derivative instruments | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Predecessor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded	(36)										(1,777)	(2,349)
Income before income tax	(36)										(1,777)	(2,349)
Tax (expense) or benefit	13										622	822
Net of tax	(23)										(1,155)	(1,527)
Unrealized gains and losses on available-for-sale securities | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Successor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Realized investment gains (losses): All other investments										271
Net impairment losses recognized in earnings										(26,992)
Income before income tax										(26,721)
Tax (expense) or benefit										9,352
Net of tax										$ (17,369)
Unrealized gains and losses on available-for-sale securities | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Predecessor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Realized investment gains (losses): All other investments	6,891										75,569	66,437
Net impairment losses recognized in earnings	(481)										(7,275)	(22,447)
Income before income tax	6,410										68,294	43,990
Tax (expense) or benefit	(2,244)										(23,903)	(15,396)
Net of tax	$ 4,166										$ 44,391	$ 28,594

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Effective income tax rate related to continuing operations
Statutory federal income tax rate applied to pre-tax income (as a percent)		35.00%
State income taxes (as a percent)		1.40%
Investment income not subject to tax (as a percent)		(6.80%)
Uncertain tax positions (as a percent)		0.00%
Other (as a percent)		(0.30%)
Effective income tax rate (as a percent)		29.30%
Current income tax expense:
Federal		$ 50,722
State		(4,000)
Total current		46,722
Deferred income tax expense:
Federal		18,880
State		8,889
Total deferred		27,769
Deferred income tax assets:
Premium receivables and policy liabilities		0
Loss and credit carryforwards		115,667
Deferred compensation		108,416
Invested assets (other than unrealized gains)		0
Deferred policy acquisition costs		267,542
Premium on non-recourse funding obligations		13,872
Net unrealized loss on investments		671,176
Other		6,605
Valuation allowance		(3,466)
Deferred income tax assets		1,179,812
Deferred income tax liabilities:
Premium receivables and policy liabilities		202,753
VOBA and other intangibles		632,176
DAC and VOBA		0
Invested assets (other than unrealized gains (losses))		1,560,063
Net unrealized gains (losses) on investments		0
Other		0
Deferred income tax liabilities		2,394,992
Net deferred income tax liability		(1,215,180)
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period		105,850
Additions for tax positions of the current year		2,213
Additions for tax positions of prior years		1,812
Reductions of tax positions of prior years:
Changes in judgment		(644)
Settlements during the period		(100,294)
Lapses of applicable statute of limitations		0
Balance, end of period	$ 105,850	8,937
Predecessor
Effective income tax rate related to continuing operations
Statutory federal income tax rate applied to pre-tax income (as a percent)	35.00%		35.00%	35.00%
State income taxes (as a percent)	0.50%		0.50%	0.40%
Investment income not subject to tax (as a percent)	(2.80%)		(2.70%)	(4.40%)
Uncertain tax positions (as a percent)	0.00%		0.50%	0.10%
Other (as a percent)	0.70%		0.10%	(0.10%)
Effective income tax rate (as a percent)	33.40%		33.40%	31.00%
Current income tax expense:
Federal	$ (48,469)		$ 176,238	$ (18,076)
State	1,085		5,525	(222)
Total current	(47,384)		181,763	(18,298)
Deferred income tax expense:
Federal	90,774		65,566	149,288
State	935		(491)	(93)
Total deferred	91,709		65,075	149,195
Deferred income tax assets:
Premium receivables and policy liabilities			154,720
Loss and credit carryforwards			35,642
Deferred compensation			104,117
Invested assets (other than unrealized gains)			2,960
Deferred policy acquisition costs			0
Premium on non-recourse funding obligations			0
Net unrealized loss on investments			0
Other			0
Valuation allowance			(791)
Deferred income tax assets			296,648
Deferred income tax liabilities:
Premium receivables and policy liabilities			0
VOBA and other intangibles			0
DAC and VOBA			1,073,499
Invested assets (other than unrealized gains (losses))			0
Net unrealized gains (losses) on investments			798,529
Other			36,484
Deferred income tax liabilities			1,908,512
Net deferred income tax liability			(1,611,864)
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period	168,076	$ 105,850	85,846	74,335
Additions for tax positions of the current year	(5,010)		57,392	7,464
Additions for tax positions of prior years	1,149		34,371	6,787
Reductions of tax positions of prior years:
Changes in judgment	(58,365)		(9,533)	(2,740)
Settlements during the period	0		0	0
Lapses of applicable statute of limitations	0		0	0
Balance, end of period	$ 105,850		$ 168,076	$ 85,846

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2015
Tax Credit Carryforward [Line Items]
Accrued interest related to the unrecognized tax benefits included in income tax expense	$ 0	$ 0	$ 0
Accrued interest associated with unrecognized tax benefits	0	0	0
Expected significant change in unrecognized tax benefit	0
Successor
Tax Credit Carryforward [Line Items]
State operating loss carryforwards, valuation allowance	5,300,000
Change in valuation allowance, before federal income taxes	(4,100,000)
Unrecognized tax benefits with high certainty of deductibility but with uncertainty about the timing of deductions	1,400,000
Amount of unrecognized tax benefits that would affect the effective income tax rate if recognized	7,500,000
Successor | State jurisdictions
Tax Credit Carryforward [Line Items]
State net operating loss carryforwards attributable to certain jurisdictions	$ 4,500,000
Predecessor
Tax Credit Carryforward [Line Items]
State operating loss carryforwards, valuation allowance		1,200,000
Unrecognized tax benefits with high certainty of deductibility but with uncertainty about the timing of deductions		157,300,000	78,500,000	$ 94,900,000
Amount of unrecognized tax benefits that would affect the effective income tax rate if recognized		$ 10,700,000	$ 7,400,000	$ 11,000,000

SUPPLEMENTAL CASH FLOW INFOR119

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Cash paid / (received) during the year:
Interest expense		$ 98,232
Income taxes		$ (75,869)
Predecessor
Cash paid / (received) during the year:
Interest expense	$ 21,567		$ 117,776	$ 110,301
Income taxes	$ (1)		$ 159,724	$ (54,370)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
PLC
RELATED PARTY TRANSACTIONS
Guarantee of synthetic lease financing		$ 75,000,000
Affiliates
RELATED PARTY TRANSACTIONS
Intercompany payables		22,500,000	$ 19,500,000
Intercompany receivables		0	0
Golden Gate | PLC
RELATED PARTY TRANSACTIONS
Outstanding surplus notes		800,000,000
Successor
Assets
Other long-term investments		594,036,000
Short-term investments		263,837,000
Total investments		45,031,648,000
Cash	$ 378,903,000	212,358,000
Accounts and premiums receivable		54,054,000
Deferred policy acquisition costs and value of business acquired		1,562,373,000
Other assets		255,283,000
Total assets		68,031,938,000
Liabilities
Future policy benefits and claims		29,703,190,000
Other liabilities		1,230,500,000
Deferred income taxes		1,215,180,000
Total liabilities		62,844,461,000
Total equity	6,509,213,000	5,187,477,000
Total liabilities and shareowner’s equity		68,031,938,000
Successor | Shades Creek
RELATED PARTY TRANSACTIONS
Payments for businesses and interest in affiliates		120,000,000
Successor | Letter of Credit
RELATED PARTY TRANSACTIONS
Outstanding letters of credit (LOC)		0
Successor | Affiliates
RELATED PARTY TRANSACTIONS
Lease revenues		4,600,000
Cost of services		214,800,000
Successor | Certain corporations with which the parent's directors were affiliated
RELATED PARTY TRANSACTIONS
Premiums and policy fees or other amounts for insurance and investment products, interest on bonds and commissions on securities underwriting		45,300,000
Successor | Certain corporations with which the parent's directors were affiliated | PLC
RELATED PARTY TRANSACTIONS
Commission, interest on debt and investment products and fees		10,000,000
Successor | Shades Creek | Letter of Credit
RELATED PARTY TRANSACTIONS
Outstanding letters of credit (LOC)		$ 55,000,000	55,000,000
Predecessor
Assets
Other long-term investments			491,282,000
Short-term investments			246,717,000
Total investments			45,583,964,000
Cash	378,903,000		268,286,000	$ 345,579,000		$ 269,582,000
Accounts and premiums receivable			81,137,000
Deferred policy acquisition costs and value of business acquired			3,155,046,000	3,476,622,000
Other assets			398,574,000
Total assets			69,992,118,000
Liabilities
Future policy benefits and claims			29,944,477,000
Other liabilities			1,178,962,000
Deferred income taxes			1,611,864,000
Total liabilities			64,160,967,000
Total equity	6,397,439,000		5,831,151,000	4,690,426,000		$ 5,687,213,000
Total liabilities and shareowner’s equity			69,992,118,000
Predecessor | Affiliates
RELATED PARTY TRANSACTIONS
Lease revenues	400,000		4,900,000	4,900,000
Cost of services	19,000,000		206,300,000	170,900,000
Predecessor | Certain corporations with which the parent's directors were affiliated
RELATED PARTY TRANSACTIONS
Premiums and policy fees or other amounts for insurance and investment products, interest on bonds and commissions on securities underwriting	2,600,000		33,400,000	40,000,000
Predecessor | Certain corporations with which the parent's directors were affiliated | PLC
RELATED PARTY TRANSACTIONS
Commission, interest on debt and investment products and fees	$ 800,000		$ 16,500,000	$ 16,400,000
Predecessor | Shades Creek
Assets
Other long-term investments					$ 34,093,000
Short-term investments					745,000
Total investments					34,838,000
Cash					44,963,000
Accounts and premiums receivable					16,036,000
Deferred policy acquisition costs and value of business acquired					123,847,000
Other assets					48,953,000
Total assets					268,637,000
Liabilities
Future policy benefits and claims					1,626,000
Other liabilities					178,321,000
Deferred income taxes					2,459,000
Total liabilities					182,406,000
Total equity					86,231,000
Total liabilities and shareowner’s equity					$ 268,637,000

STATUTORY REPORTING PRACTICE121

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Statutory net income	$ 440	$ 554.2	$ 165.5
Statutory capital and surplus	$ 3,800	$ 3,500
Period for which dividend can be paid after written notice to the insurance commissioner	30 days
Net assets of the Company's insurance subsidiaries that are restricted from transfer (in dollars)	$ 165.6
Consolidated shareowners' equity which represented net assets of the Company's insurance subsidiaries that is required to be maintained as minimum capital	960.2
Total adjusted capital	4,100
Action level RBC	$ 720.6
RBC ratio (as a percent)	562.00%
Market value of fixed maturity and short-term investments of the company's subsidiaries deposited with regulatory authorities	$ 43.8

STATUTORY REPORTING PRACTICE122

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	$ (295)	$ (310)
Non-admission of goodwill
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	(295)	(310)
Insurance subsidiaries | Accounting for Letters of Credit as admitted assets
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	1,715	1,735
Insurance subsidiaries | Accounting for Red Mountain Note as admitted asset
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	500	435
Insurance subsidiaries | Reserving based on state specific actuarial practices
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	117	112
Insurance subsidiaries | Reserving difference related to a captive insurance company
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	$ (118)	$ (87)

FAIR VALUE OF FINANCIAL INST123

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Assets:
Available-for-sale securities	$ 33,736,825
Total fixed maturity securities	35,507,098
Equity securities	699,925
Other long-term investments	323,570
Short-term investments	263,837
Assets related to separate accounts
Variable annuity	12,829,188
Variable universal life	827,610
Successor | Fixed maturities
Assets:
Available-for-sale securities	32,843,049
Trading securities	2,700,000
Successor | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,765,273
Successor | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,285,864
Successor | Other asset-backed securities
Assets:
Available-for-sale securities	797,051
Successor | U.S. government-related securities
Assets:
Available-for-sale securities	1,532,177
Successor | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,603,600
Successor | Other government-related securities
Assets:
Available-for-sale securities	17,740
Successor | Corporate securities
Assets:
Available-for-sale securities	25,778,657
Successor | Preferred stock
Assets:
Available-for-sale securities	62,687
Successor | Level 3 | Other asset-backed securities
Assets:
Total investments	587,031
Successor | Level 3 | Corporate securities
Assets:
Total investments	875,810
Successor | Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities	1,333,895
Equity securities	620,358
Other long-term investments	113,699
Short-term investments	261,659
Total investments	2,329,611
Cash	212,358
Assets related to separate accounts
Variable annuity	12,829,188
Variable universal life	827,610
Total assets measured at fair value on a recurring basis	16,198,767
Liabilities:
Other liabilities	40,067
Total liabilities measured at fair value on a recurring basis	40,067
Successor | Measured at fair value on a recurring basis | Level 1 | Fixed maturities
Assets:
Available-for-sale securities	1,097,509
Trading securities	236,386
Successor | Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Available-for-sale securities	1,054,353
Trading securities	233,592
Successor | Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Available-for-sale securities	83
Successor | Measured at fair value on a recurring basis | Level 1 | Preferred stock
Assets:
Available-for-sale securities	43,073
Trading securities	2,794
Successor | Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities	32,512,913
Equity securities	13,063
Other long-term investments	141,487
Short-term investments	2,178
Total investments	32,669,641
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	32,669,641
Liabilities:
Other liabilities	106,310
Total liabilities measured at fair value on a recurring basis	106,310
Successor | Measured at fair value on a recurring basis | Level 2 | Fixed maturities
Assets:
Available-for-sale securities	30,256,387
Trading securities	2,256,526
Successor | Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,765,270
Trading securities	286,658
Successor | Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,285,864
Trading securities	146,743
Successor | Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Available-for-sale securities	210,020
Trading securities	122,511
Successor | Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Available-for-sale securities	477,824
Trading securities	4,755
Successor | Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,603,600
Trading securities	313,354
Successor | Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Available-for-sale securities	17,740
Trading securities	58,827
Successor | Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Available-for-sale securities	24,876,455
Trading securities	1,322,276
Successor | Measured at fair value on a recurring basis | Level 2 | Preferred stock
Assets:
Available-for-sale securities	19,614
Trading securities	1,402
Successor | Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities	1,660,290
Equity securities	66,504
Other long-term investments	68,384
Total investments	1,795,178
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	1,795,178
Liabilities:
Annuity account balances	92,512
Other liabilities	375,848
Total liabilities measured at fair value on a recurring basis	468,360
Successor | Measured at fair value on a recurring basis | Level 3 | Fixed maturities
Assets:
Available-for-sale securities	1,489,153
Trading securities	171,137
Successor | Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	3
Successor | Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Available-for-sale securities	587,031
Trading securities	152,912
Successor | Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	0
Successor | Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Available-for-sale securities	902,119
Trading securities	18,225
Predecessor
Assets:
Available-for-sale securities		$ 34,824,298
Total fixed maturity securities		36,756,240
Equity securities		756,790
Other long-term investments		270,701
Short-term investments		246,717
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Predecessor | Fixed maturities
Assets:
Available-for-sale securities		33,937,420
Trading securities		2,800,000
Predecessor | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,258
Predecessor | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Predecessor | Other asset-backed securities
Assets:
Available-for-sale securities		839,376
Predecessor | U.S. government-related securities
Assets:
Available-for-sale securities		1,428,895
Predecessor | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,687,689
Predecessor | Other government-related securities
Assets:
Available-for-sale securities		20,172
Predecessor | Corporate securities
Assets:
Available-for-sale securities		27,365,778
Predecessor | Level 3 | Other asset-backed securities
Assets:
Total investments		563,752
Predecessor | Level 3 | Corporate securities
Assets:
Total investments		1,282,864
Predecessor | Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities		1,410,883
Equity securities		590,832
Other long-term investments		119,997
Short-term investments		243,436
Total investments		2,365,148
Cash		268,286
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets measured at fair value on a recurring basis		16,625,803
Liabilities:
Other liabilities		62,146
Total liabilities measured at fair value on a recurring basis		62,146
Predecessor | Measured at fair value on a recurring basis | Level 1 | Fixed maturities
Assets:
Available-for-sale securities		1,165,320
Trading securities		245,563
Predecessor | Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Available-for-sale securities		1,165,188
Trading securities		245,563
Predecessor | Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Available-for-sale securities		132
Predecessor | Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities		33,257,830
Equity securities		99,267
Other long-term investments		106,079
Short-term investments		3,281
Total investments		33,466,457
Assets related to separate accounts
Total assets measured at fair value on a recurring basis		33,466,457
Liabilities:
Other liabilities		61,046
Total liabilities measured at fair value on a recurring basis		61,046
Predecessor | Measured at fair value on a recurring basis | Level 2 | Fixed maturities
Assets:
Available-for-sale securities		30,878,778
Trading securities		2,379,052
Predecessor | Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,255
Trading securities		288,114
Predecessor | Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Trading securities		151,111
Predecessor | Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Available-for-sale securities		275,415
Trading securities		105,118
Predecessor | Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Available-for-sale securities		263,707
Trading securities		4,898
Predecessor | Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,684,014
Trading securities		325,446
Predecessor | Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Available-for-sale securities		20,172
Trading securities		57,032
Predecessor | Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Available-for-sale securities		26,039,963
Trading securities		1,447,333
Predecessor | Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities		2,087,527
Equity securities		66,691
Other long-term investments		44,625
Total investments		2,198,843
Assets related to separate accounts
Total assets measured at fair value on a recurring basis		2,198,843
Liabilities:
Annuity account balances		97,825
Other liabilities		506,343
Total liabilities measured at fair value on a recurring basis		604,168
Predecessor | Measured at fair value on a recurring basis | Level 3 | Fixed maturities
Assets:
Available-for-sale securities		1,893,322
Trading securities		194,205
Predecessor | Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Available-for-sale securities		3
Predecessor | Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Available-for-sale securities		563,961
Trading securities		169,461
Predecessor | Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		3,675
Predecessor | Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Available-for-sale securities		1,325,683
Trading securities		24,744
Fair Values | Successor | Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities	35,507,098
Equity securities	699,925
Other long-term investments	323,570
Short-term investments	263,837
Total investments	36,794,430
Cash	212,358
Assets related to separate accounts
Variable annuity	12,829,188
Variable universal life	827,610
Total assets measured at fair value on a recurring basis	50,663,586
Liabilities:
Annuity account balances	92,512
Other liabilities	522,225
Total liabilities measured at fair value on a recurring basis	614,737
Fair Values | Successor | Measured at fair value on a recurring basis | Fixed maturities
Assets:
Available-for-sale securities	32,843,049
Trading securities	2,664,049
Fair Values | Successor | Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,765,273
Trading securities	286,658
Fair Values | Successor | Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,285,864
Trading securities	146,743
Fair Values | Successor | Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Available-for-sale securities	797,051
Trading securities	275,423
Fair Values | Successor | Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Available-for-sale securities	1,532,177
Trading securities	238,347
Fair Values | Successor | Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,603,600
Trading securities	313,354
Fair Values | Successor | Measured at fair value on a recurring basis | Other government-related securities
Assets:
Available-for-sale securities	17,740
Trading securities	58,827
Fair Values | Successor | Measured at fair value on a recurring basis | Corporate securities
Assets:
Available-for-sale securities	25,778,657
Trading securities	1,340,501
Fair Values | Successor | Measured at fair value on a recurring basis | Preferred stock
Assets:
Available-for-sale securities	62,687
Trading securities	$ 4,196
Fair Values | Predecessor | Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities		36,756,240
Equity securities		756,790
Other long-term investments		270,701
Short-term investments		246,717
Total investments		38,030,448
Cash		268,286
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets measured at fair value on a recurring basis		52,291,103
Liabilities:
Annuity account balances		97,825
Other liabilities		629,535
Total liabilities measured at fair value on a recurring basis		727,360
Fair Values | Predecessor | Measured at fair value on a recurring basis | Fixed maturities
Assets:
Available-for-sale securities		33,937,420
Trading securities		2,818,820
Fair Values | Predecessor | Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,258
Trading securities		288,114
Fair Values | Predecessor | Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Trading securities		151,111
Fair Values | Predecessor | Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Available-for-sale securities		839,376
Trading securities		274,579
Fair Values | Predecessor | Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Available-for-sale securities		1,428,895
Trading securities		250,461
Fair Values | Predecessor | Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,687,689
Trading securities		325,446
Fair Values | Predecessor | Measured at fair value on a recurring basis | Other government-related securities
Assets:
Available-for-sale securities		20,172
Trading securities		57,032
Fair Values | Predecessor | Measured at fair value on a recurring basis | Corporate securities
Assets:
Available-for-sale securities		27,365,778
Trading securities		$ 1,472,077

FAIR VALUE OF FINANCIAL INST124

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)primary_source	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)reinsurer	Dec. 31, 2014USD ($)
Determination of fair values
Number of primary sources of information used for determining fair value			1		1
Total number of primary sources of information available for determining fair value			3		3
Minimum percentage of the Company's fixed maturity securities priced by third party pricing services				90.00%
Number of independent non-binding broker quotes obtained per security | reinsurer					1
Embedded derivative - GMWB | Level 3
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative - GMWB | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)				44.50%
Embedded derivative - GMWB | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)				100.00%
Embedded derivative - FIA | Level 3 | Annuity account
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative - FIA | Level 3 | Annuity account | Minimum
Determination of fair values
Mortality (as a percent)				49.00%
Embedded derivative - FIA | Level 3 | Annuity account | Maximum
Determination of fair values
Mortality (as a percent)				80.00%
Embedded derivative - IUL | Level 3
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative - IUL | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)				38.00%
Embedded derivative - IUL | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)				153.00%
Successor
Determination of fair values
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations				82.00%
Statutory policy liabilities (net of policy loans)	$ 522,225,000	$ 522,225,000	$ 522,225,000	$ 522,225,000	$ 522,225,000
Other long-term investments	323,570,000	323,570,000	323,570,000	$ 323,570,000	323,570,000
Equity indexed annuities, discount rate for five years (as a percent)				2.43%
Equity indexed annuities, discount rate for thirty years (as a percent)				3.66%
Successor | Interest support, YRT premium support and portfolio maintenance agreement
Determination of fair values
Other long-term investments	18,200,000	18,200,000	18,200,000	$ 18,200,000	18,200,000
Successor | Golden Gate II Captive Insurance Company (Golden Gate II) | Interest Support Agreement
Determination of fair values
Other long-term investments	15,800,000	15,800,000	15,800,000	15,800,000	15,800,000
Interest support agreement, amount collateralized	1,900,000	1,900,000	1,900,000	1,900,000	1,900,000
Payments triggered under agreement		0
Successor | Golden Gate II Captive Insurance Company (Golden Gate II) | YRT premium support agreement
Determination of fair values
Other long-term investments	2,300,000	2,300,000	2,300,000	2,300,000	2,300,000
Payments triggered under agreement		0
Successor | Golden Gate V and West Coast Life | Portfolio maintenance agreements
Determination of fair values
Other long-term investments	0	0	0	$ 0	0
Payments triggered under agreement		0
Successor | Annuity account
Determination of fair values
Equity indexed annuities, discount rate for one month (as a percent)				0.61%
Successor | Level 3
Determination of fair values
Financial instruments that are valued using broker quotes	197,500,000	197,500,000	197,500,000	$ 197,500,000	197,500,000
Financial instruments with book value approximating to fair value	66,500,000	66,500,000	66,500,000	66,500,000	66,500,000
Successor | Level 3 | Annuity account
Determination of fair values
Statutory policy liabilities (net of policy loans)	92,512,000	92,512,000	92,512,000	92,512,000	92,512,000
Successor | Asset-Backed Securities | Level 2
Determination of fair values
Fair value, assets	3,800,000,000	3,800,000,000	3,800,000,000	3,800,000,000	3,800,000,000
Successor | Asset-Backed Securities | Level 3
Determination of fair values
Fair value, assets	739,900,000	739,900,000	739,900,000	739,900,000	739,900,000
Successor | Other asset-backed securities | Level 3
Determination of fair values
Fair value, assets	587,031,000	587,031,000	587,031,000	587,031,000	587,031,000
Financial instruments that are valued using broker quotes	152,900,000	152,900,000	152,900,000	152,900,000	152,900,000
Successor | Other asset-backed securities | Level 3 | Available-for-sale securities
Determination of fair values
Fair value, assets	587,000,000	587,000,000	587,000,000	587,000,000	587,000,000
Successor | Other asset-backed securities | Level 3 | Trading securities
Determination of fair values
Fair value, assets	152,900,000	152,900,000	152,900,000	$ 152,900,000	152,900,000
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum				97.00%
Successor | Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 2
Determination of fair values
Fair value, assets	28,700,000,000	28,700,000,000	28,700,000,000	$ 28,700,000,000	28,700,000,000
Successor | Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 3
Determination of fair values
Fair value, assets	920,300,000	920,300,000	920,300,000	920,300,000	920,300,000
Successor | Equity securities
Determination of fair values
Fair value of the trading securities	8,300,000	8,300,000	8,300,000	8,300,000	8,300,000
Successor | Equity securities | Level 2 and Level 3
Determination of fair values
Fair value, assets	79,600,000	79,600,000	79,600,000	79,600,000	79,600,000
Federal home loan bank stock	65,700,000	65,700,000	65,700,000	65,700,000	65,700,000
Successor | Embedded derivative - GMWB
Determination of fair values
Statutory policy liabilities (net of policy loans)	2,500,000,000	2,500,000,000	2,500,000,000	2,500,000,000	2,500,000,000
Unrealized gain (loss) of securities		184,100,000
Successor | Embedded derivative - GMWB | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)	18,511,000	18,511,000	18,511,000	18,511,000	18,511,000
Successor | Corporate securities | Level 3
Determination of fair values
Fair value, assets	875,810,000	875,810,000	875,810,000	875,810,000	875,810,000
Financial instruments that are valued using broker quotes	44,600,000	44,600,000	44,600,000	44,600,000	44,600,000
Successor | Embedded derivative - FIA | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)	100,329,000	100,329,000	100,329,000	100,329,000	100,329,000
Successor | Embedded derivative - IUL | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)	29,629,000	29,629,000	29,629,000	29,629,000	29,629,000
Successor | Funds withheld derivative | Level 2
Determination of fair values
Fair value, derivative liability	$ 102,400,000	$ 102,400,000	$ 102,400,000	$ 102,400,000	$ 102,400,000
Predecessor
Determination of fair values
Statutory policy liabilities (net of policy loans)						$ 629,535,000
Other long-term investments						270,701,000
Predecessor | Level 3
Determination of fair values
Financial instruments that are valued using broker quotes						237,200,000
Financial instruments with book value approximating to fair value						70,400,000
Predecessor | Level 3 | Annuity account
Determination of fair values
Statutory policy liabilities (net of policy loans)						$ 97,825,000
Predecessor | Other asset-backed securities
Determination of fair values
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum						97.00%
Predecessor | Other asset-backed securities | Level 3
Determination of fair values
Fair value, assets						$ 563,752,000
Financial instruments that are valued using broker quotes						169,700,000
Predecessor | Equity securities
Determination of fair values
Fair value of the trading securities						21,500,000
Predecessor | Equity securities | Level 3
Determination of fair values
Financial instruments with book value approximating to fair value						66,700,000
Predecessor | Embedded derivative - GMWB | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)						25,927,000
Predecessor | Corporate securities | Level 3
Determination of fair values
Fair value, assets						1,282,864,000
Financial instruments that are valued using broker quotes						67,500,000
Predecessor | Fixed income | Level 3
Determination of fair values
Financial instruments with book value approximating to fair value						3,700,000
Predecessor | Embedded derivative - FIA | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)						124,465,000
Predecessor | Embedded derivative - IUL | Level 3
Determination of fair values
Statutory policy liabilities (net of policy loans)						$ 6,691,000

FAIR VALUE OF FINANCIAL INST125

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Successor
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	$ 522,225,000
One time over-utilization (as a percent)	400.00%
Successor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets	$ 587,031,000
Successor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets	875,810,000
Successor | Embedded derivative - GMWB
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	2,500,000,000
Successor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	18,511,000
Successor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	100,329,000
Successor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	29,629,000
Predecessor
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities		$ 629,535,000
Predecessor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets		563,752,000
Predecessor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets		1,282,864,000
Predecessor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities		25,927,000
Predecessor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities		124,465,000
Predecessor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities		6,691,000
Annuity account | Successor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities	92,512,000
Annuity account | Predecessor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, liabilities		$ 97,825,000
Actuarial cash flow model | Successor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Expenses per policy	81.50
Actuarial cash flow model | Annuity account | Successor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Expenses per policy	$ 81
Withdrawal rate (as a percent)	2.20%
Actuarial cash flow model | Annuity account | Predecessor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Withdrawal rate (as a percent)		2.20%
Minimum | Discounted cash flow | Successor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)	0.27%
Paydown rate (as a percent)	10.20%
Minimum | Discounted cash flow | Successor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)	0.10%
Minimum | Discounted cash flow | Predecessor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)		0.39%
Paydown rate (as a percent)		9.70%
Minimum | Discounted cash flow | Predecessor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)		0.33%
Minimum | Actuarial cash flow model | Successor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	0.30%
Utilization (as a percent)	99.00%
Nonperformance risk (as a percent)	0.18%
Minimum | Actuarial cash flow model | Successor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	2.50%
Nonperformance risk (as a percent)	0.18%
Withdrawal rate (as a percent)	1.10%
Minimum | Actuarial cash flow model | Successor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)	38.00%
Lapse (as a percent)	0.50%
Nonperformance risk (as a percent)	0.18%
Minimum | Actuarial cash flow model | Predecessor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		44.50%
Lapse (as a percent)		0.25%
Utilization (as a percent)		97.00%
Nonperformance risk (as a percent)		0.12%
Minimum | Actuarial cash flow model | Predecessor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		49.00%
Lapse (as a percent)		2.20%
Nonperformance risk (as a percent)		0.12%
Expenses per policy		$ 83
Withdrawal rate (as a percent)		1.10%
Minimum | Actuarial cash flow model | Predecessor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		37.00%
Lapse (as a percent)		0.50%
Nonperformance risk (as a percent)		0.12%
Minimum | Actuarial cash flow model | Annuity account | Successor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	2.20%
Nonperformance risk (as a percent)	0.18%
Asset earned rate (as a percent)	4.53%
Return on assets (as a percent)	1.50%
Minimum | Actuarial cash flow model | Annuity account | Predecessor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		49.00%
Lapse (as a percent)		2.20%
Nonperformance risk (as a percent)		0.12%
Asset earned rate (as a percent)		3.86%
Expenses per policy		$ 88
Return on assets (as a percent)		1.50%
Maximum | Discounted cash flow | Successor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)	1.49%
Paydown rate (as a percent)	14.72%
Maximum | Discounted cash flow | Successor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)	19.00%
Maximum | Discounted cash flow | Predecessor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)		1.49%
Paydown rate (as a percent)		15.80%
Maximum | Discounted cash flow | Predecessor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)		7.50%
Maximum | Actuarial cash flow model | Successor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	15.00%
Utilization (as a percent)	10.00%
Nonperformance risk (as a percent)	1.04%
Maximum | Actuarial cash flow model | Successor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	40.00%
Nonperformance risk (as a percent)	1.04%
Withdrawal rate (as a percent)	4.50%
Maximum | Actuarial cash flow model | Successor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)	153.00%
Lapse (as a percent)	10.00%
Nonperformance risk (as a percent)	1.04%
Maximum | Actuarial cash flow model | Predecessor | Embedded derivative - GMWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		100.00%
Lapse (as a percent)		17.00%
Utilization (as a percent)		101.00%
Nonperformance risk (as a percent)		0.96%
Maximum | Actuarial cash flow model | Predecessor | Embedded derivative - FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		80.00%
Lapse (as a percent)		40.00%
Nonperformance risk (as a percent)		0.96%
Expenses per policy		$ 97
Withdrawal rate (as a percent)		4.50%
Maximum | Actuarial cash flow model | Predecessor | Embedded derivative - IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		74.00%
Lapse (as a percent)		10.00%
Nonperformance risk (as a percent)		0.96%
Maximum | Actuarial cash flow model | Annuity account | Successor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Lapse (as a percent)	33.00%
Nonperformance risk (as a percent)	1.04%
Asset earned rate (as a percent)	5.67%
Return on assets (as a percent)	1.85%
Maximum | Actuarial cash flow model | Annuity account | Predecessor | Level 3
Assets and liabilities measured at fair value on a recurring basis
Mortality (as a percent)		80.00%
Lapse (as a percent)		33.00%
Nonperformance risk (as a percent)		0.96%
Asset earned rate (as a percent)		5.92%
Expenses per policy		$ 102
Return on assets (as a percent)		1.85%
Weighted Average | Discounted cash flow | Successor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)	0.42%
Paydown rate (as a percent)	13.11%
Weighted Average | Discounted cash flow | Successor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)	2.61%
Weighted Average | Discounted cash flow | Predecessor | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Liquidity premium (as a percent)		0.69%
Paydown rate (as a percent)		12.08%
Weighted Average | Discounted cash flow | Predecessor | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Spread over treasury (as a percent)		2.19%

FAIR VALUE OF FINANCIAL INST126

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Successor
Assets:
Beginning Balance		$ 2,240,077,000
Total Realized and Unrealized Gains Included in Earnings		63,920,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		35,574,000
Total Realized and Unrealized Losses Included in Earnings		(59,037,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(69,974,000)
Purchases		201,924,000
Sales		(441,594,000)
Transfers in/out of Level 3		(166,570,000)
Other		(9,142,000)
Ending Balance	$ 2,240,077,000	1,795,178,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(3,050,000)
Liabilities:
Beginning Balance		628,397,000
Total Realized and Unrealized Gains Included in Earnings		278,171,000
Total Realized and Unrealized Losses Included in Earnings		(130,057,000)
Issuances		368,000
Settlements		12,291,000
Ending Balance	628,397,000	468,360,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		154,270,000
Transfers
Securities transferred into Level 3		0
Transferred out of Level 3		166,600,000
Transfers from Level 2 to Level 1		90,400,000
Transfers from Level 1		21,000,000
Successor | Annuity account
Liabilities:
Beginning Balance		98,279,000
Total Realized and Unrealized Losses Included in Earnings		(6,156,000)
Issuances		368,000
Settlements		12,291,000
Ending Balance	98,279,000	92,512,000
Successor | Other liabilities
Liabilities:
Beginning Balance		530,118,000
Total Realized and Unrealized Gains Included in Earnings		278,171,000
Total Realized and Unrealized Losses Included in Earnings		(123,901,000)
Ending Balance	530,118,000	375,848,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		154,270,000
Predecessor
Assets:
Beginning Balance	2,198,843,000		$ 2,490,492,000
Total Realized and Unrealized Gains Included in Earnings			16,974,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income			105,542,000
Total Realized and Unrealized Losses Included in Earnings			(66,096,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income			(41,848,000)
Purchases			155,261,000
Sales			(278,512,000)
Transfers in/out of Level 3			(173,736,000)
Other			(9,234,000)
Ending Balance			2,198,843,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date			(53,299,000)
Liabilities:
Beginning Balance	604,168,000	730,226,000	340,738,000
Total Realized and Unrealized Gains Included in Earnings	61,000		22,547,000
Total Realized and Unrealized Losses Included in Earnings	(126,531,000)		(299,459,000)
Issuances	7,000		685,000
Settlements	419,000		14,167,000
Other			0
Ending Balance	730,226,000		604,168,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(125,934,000)		(272,605,000)
Transfers
Securities transferred into Level 3	43,200,000		31,000,000
Transferred out of Level 3	0		204,700,000
Transfers from Level 2 to Level 1	0		0
Transfers from Level 1	0		0
Predecessor | Annuity account
Liabilities:
Beginning Balance	97,825,000	97,949,000	107,000,000
Total Realized and Unrealized Losses Included in Earnings	(536,000)		(4,307,000)
Issuances	7,000		685,000
Settlements	419,000		14,167,000
Ending Balance	97,949,000		97,825,000
Predecessor | Other liabilities
Liabilities:
Beginning Balance	506,343,000	632,277,000	233,738,000
Total Realized and Unrealized Gains Included in Earnings	61,000		22,547,000
Total Realized and Unrealized Losses Included in Earnings	(125,995,000)		(295,152,000)
Other			0
Ending Balance	632,277,000		506,343,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(125,934,000)		(272,605,000)
Residential mortgage-backed securities | Successor | Available-for-sale securities
Assets:
Beginning Balance		3,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income		0
Sales		0
Ending Balance	3,000	3,000
Residential mortgage-backed securities | Successor | Trading Securities
Assets:
Total Realized and Unrealized Gains Included in Earnings		0
Purchases		0
Transfers in/out of Level 3		0
Residential mortgage-backed securities | Predecessor | Available-for-sale securities
Assets:
Beginning Balance	3,000	3,000	28,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income			0
Total Realized and Unrealized Losses Included in Other Comprehensive Income			(1,000)
Purchases			0
Sales			(24,000)
Transfers in/out of Level 3			0
Other			0
Ending Balance	3,000		3,000
Residential mortgage-backed securities | Predecessor | Trading Securities
Assets:
Total Realized and Unrealized Gains Included in Earnings			11,000
Purchases			842,000
Transfers in/out of Level 3			(853,000)
Other asset-backed securities | Successor | Available-for-sale securities
Assets:
Beginning Balance		603,646,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		11,040,000
Total Realized and Unrealized Losses Included in Earnings		(92,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(17,076,000)
Sales		(9,677,000)
Other		(810,000)
Ending Balance	603,646,000	587,031,000
Other asset-backed securities | Successor | Trading Securities
Assets:
Beginning Balance		169,473,000
Total Realized and Unrealized Gains Included in Earnings		6,260,000
Total Realized and Unrealized Losses Included in Earnings		(7,967,000)
Purchases		2,000,000
Sales		(15,154,000)
Transfers in/out of Level 3		(1,982,000)
Other		282,000
Ending Balance	169,473,000	152,912,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(5,804,000)
Other asset-backed securities | Predecessor | Available-for-sale securities
Assets:
Beginning Balance	563,961,000	603,646,000	545,808,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income			36,395,000
Total Realized and Unrealized Losses Included in Earnings			(248,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(3,867,000)		(8,033,000)
Purchases			0
Sales	(32,000)		(10,064,000)
Transfers in/out of Level 3	43,205,000		0
Other	379,000		103,000
Ending Balance	603,646,000		563,961,000
Other asset-backed securities | Predecessor | Trading Securities
Assets:
Beginning Balance	169,461,000	169,473,000	194,977,000
Total Realized and Unrealized Gains Included in Earnings	586,000		9,507,000
Total Realized and Unrealized Losses Included in Earnings	(139,000)		(5,508,000)
Purchases			0
Sales	(472,000)		(30,462,000)
Transfers in/out of Level 3			0
Other	37,000		947,000
Ending Balance	169,473,000		169,461,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	447,000		1,083,000
States, municipals, and political subdivisions | Successor | Available-for-sale securities
Assets:
Beginning Balance		3,675,000
Sales		(3,675,000)
Ending Balance	3,675,000	0
States, municipals, and political subdivisions | Predecessor | Available-for-sale securities
Assets:
Beginning Balance	3,675,000	3,675,000	3,675,000
Sales			0
Ending Balance	3,675,000		3,675,000
States, municipals, and political subdivisions | Predecessor | Trading Securities
Assets:
Total Realized and Unrealized Losses Included in Earnings			0
Purchases			0
Transfers in/out of Level 3			0
Other government-related securities | Predecessor | Available-for-sale securities
Assets:
Beginning Balance			0
Total Realized and Unrealized Gains Included in Other Comprehensive Income			0
Total Realized and Unrealized Losses Included in Other Comprehensive Income			0
Sales			0
Other			0
Corporate securities | Successor | Available-for-sale securities
Assets:
Beginning Balance		1,307,259,000
Total Realized and Unrealized Gains Included in Earnings		4,367,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		24,490,000
Total Realized and Unrealized Losses Included in Earnings		(963,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(52,898,000)
Purchases		199,924,000
Sales		(407,052,000)
Transfers in/out of Level 3		(164,588,000)
Other		(8,420,000)
Ending Balance	1,307,259,000	902,119,000
Corporate securities | Successor | Trading Securities
Assets:
Beginning Balance		25,130,000
Total Realized and Unrealized Gains Included in Earnings		501,000
Total Realized and Unrealized Losses Included in Earnings		(1,407,000)
Purchases		0
Sales		(5,805,000)
Transfers in/out of Level 3		0
Other		(194,000)
Ending Balance	25,130,000	18,225,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(1,430,000)
Corporate securities | Predecessor | Available-for-sale securities
Assets:
Beginning Balance	1,325,683,000	1,307,259,000	1,549,940,000
Total Realized and Unrealized Gains Included in Earnings			1,183,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282,000		67,955,000
Total Realized and Unrealized Losses Included in Earnings			(2,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(23,029,000)		(33,553,000)
Purchases			139,029,000
Sales	(7,062,000)		(226,073,000)
Transfers in/out of Level 3			(162,236,000)
Other	(615,000)		(10,560,000)
Ending Balance	1,307,259,000		1,325,683,000
Corporate securities | Predecessor | Trading Securities
Assets:
Beginning Balance	24,744,000	25,130,000	29,199,000
Total Realized and Unrealized Gains Included in Earnings	602,000		1,294,000
Total Realized and Unrealized Losses Included in Earnings	(196,000)		(1,098,000)
Purchases			5,839,000
Sales	(20,000)		(10,770,000)
Transfers in/out of Level 3			4,000
Other			276,000
Ending Balance	25,130,000		24,744,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	406,000		(121,000)
Fixed maturities | Successor
Assets:
Beginning Balance		2,109,186,000
Total Realized and Unrealized Gains Included in Earnings		11,128,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		35,530,000
Total Realized and Unrealized Losses Included in Earnings		(10,429,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(69,974,000)
Purchases		201,924,000
Sales		(441,363,000)
Transfers in/out of Level 3		(166,570,000)
Other		(9,142,000)
Ending Balance	2,109,186,000	1,660,290,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(7,234,000)
Fixed maturities | Successor | Available-for-sale securities
Assets:
Beginning Balance		1,914,583,000
Total Realized and Unrealized Gains Included in Earnings		4,367,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		35,530,000
Total Realized and Unrealized Losses Included in Earnings		(1,055,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(69,974,000)
Purchases		199,924,000
Sales		(420,404,000)
Transfers in/out of Level 3		(164,588,000)
Other		(9,230,000)
Ending Balance	1,914,583,000	1,489,153,000
Fixed maturities | Successor | Trading Securities
Assets:
Beginning Balance		194,603,000
Total Realized and Unrealized Gains Included in Earnings		6,761,000
Total Realized and Unrealized Losses Included in Earnings		(9,374,000)
Purchases		2,000,000
Sales		(20,959,000)
Transfers in/out of Level 3		(1,982,000)
Other		88,000
Ending Balance	194,603,000	171,137,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(7,234,000)
Fixed maturities | Predecessor
Assets:
Beginning Balance	2,087,527,000	2,109,186,000	2,323,627,000
Total Realized and Unrealized Gains Included in Earnings	1,188,000		11,995,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282,000		104,350,000
Total Realized and Unrealized Losses Included in Earnings	(335,000)		(6,856,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896,000)		(41,587,000)
Purchases			145,710,000
Sales	(7,586,000)		(277,393,000)
Transfers in/out of Level 3	43,205,000		(163,085,000)
Other	(199,000)		(9,234,000)
Ending Balance	2,109,186,000		2,087,527,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	853,000		962,000
Fixed maturities | Predecessor | Available-for-sale securities
Assets:
Beginning Balance	1,893,322,000	1,914,583,000	2,099,451,000
Total Realized and Unrealized Gains Included in Earnings			1,183,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282,000		104,350,000
Total Realized and Unrealized Losses Included in Earnings			(250,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896,000)		(41,587,000)
Purchases			139,029,000
Sales	(7,094,000)		(236,161,000)
Transfers in/out of Level 3	43,205,000		(162,236,000)
Other	(236,000)		(10,457,000)
Ending Balance	1,914,583,000		1,893,322,000
Fixed maturities | Predecessor | Trading Securities
Assets:
Beginning Balance	194,205,000	194,603,000	224,176,000
Total Realized and Unrealized Gains Included in Earnings	1,188,000		10,812,000
Total Realized and Unrealized Losses Included in Earnings	(335,000)		(6,606,000)
Purchases			6,681,000
Sales	(492,000)		(41,232,000)
Transfers in/out of Level 3			(849,000)
Other	37,000		1,223,000
Ending Balance	194,603,000		194,205,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	853,000		962,000
Equity securities | Successor
Assets:
Beginning Balance		66,691,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		44,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income		0
Purchases		0
Sales		(231,000)
Transfers in/out of Level 3		0
Ending Balance	66,691,000	66,504,000
Equity securities | Predecessor
Assets:
Beginning Balance	66,691,000	66,691,000	67,979,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income			1,192,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income			(261,000)
Purchases			9,551,000
Sales			(1,119,000)
Transfers in/out of Level 3			(10,651,000)
Ending Balance	66,691,000		66,691,000
Other long-term investments | Successor
Assets:
Beginning Balance		64,200,000
Total Realized and Unrealized Gains Included in Earnings		52,792,000
Total Realized and Unrealized Losses Included in Earnings		(48,608,000)
Ending Balance	64,200,000	68,384,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		4,184,000
Other long-term investments | Predecessor
Assets:
Beginning Balance	44,625,000	46,076,000	98,886,000
Total Realized and Unrealized Gains Included in Earnings	16,617,000		4,979,000
Total Realized and Unrealized Losses Included in Earnings	(15,166,000)		(59,240,000)
Other			0
Ending Balance	46,076,000		44,625,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	1,451,000		(54,261,000)
Total investments | Successor
Assets:
Beginning Balance		2,240,077,000
Total Realized and Unrealized Gains Included in Earnings		63,920,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		35,574,000
Total Realized and Unrealized Losses Included in Earnings		(59,037,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(69,974,000)
Purchases		201,924,000
Sales		(441,594,000)
Transfers in/out of Level 3		(166,570,000)
Other		(9,142,000)
Ending Balance	2,240,077,000	1,795,178,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(3,050,000)
Total investments | Predecessor
Assets:
Beginning Balance	2,198,843,000	$ 2,221,953,000	2,490,492,000
Total Realized and Unrealized Gains Included in Earnings	17,805,000		16,974,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282,000		105,542,000
Total Realized and Unrealized Losses Included in Earnings	(15,501,000)		(66,096,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896,000)		(41,848,000)
Purchases			155,261,000
Sales	(7,586,000)		(278,512,000)
Transfers in/out of Level 3	43,205,000		(173,736,000)
Other	(199,000)		(9,234,000)
Ending Balance	2,221,953,000		2,198,843,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	$ 2,304,000		$ (53,299,000)

FAIR VALUE OF FINANCIAL INST127

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Assets:
Mortgage loans on real estate	$ 5,662,812
Policy loans	1,699,508
Fixed maturities, held-to-maturity	593,314
Liabilities:
Stable value product account balances	2,131,822
Annuity account balances	10,719,862
Debt
Non-recourse funding obligations	1,951,563
Successor | Golden Gate V
Debt
Non-recourse funding obligations	564,679
Successor | Carrying Amounts
Assets:
Mortgage loans on real estate	5,662,812
Policy loans	1,699,508
Fixed maturities, held-to-maturity	593,314
Liabilities:
Stable value product account balances	2,131,822
Annuity account balances	10,719,862
Debt
Non-recourse funding obligations	1,951,563
Successor | Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations	500,000
Successor | Fair Values | Golden Gate V
Debt
Non-recourse funding obligations	495,500
Successor | Fair Values | Level 3
Assets:
Mortgage loans on real estate	5,529,803
Policy loans	1,699,508
Fixed maturities, held-to-maturity	515,000
Liabilities:
Stable value product account balances	2,124,712
Annuity account balances	10,274,571
Debt
Non-recourse funding obligations	$ 1,621,773
Predecessor
Assets:
Mortgage loans on real estate		$ 5,133,780
Policy loans		1,758,237
Fixed maturities, held-to-maturity		435,000
Liabilities:
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Debt
Non-recourse funding obligations		1,527,752
Predecessor | Carrying Amounts
Assets:
Mortgage loans on real estate		5,133,780
Policy loans		1,758,237
Fixed maturities, held-to-maturity		435,000
Liabilities:
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Debt
Non-recourse funding obligations		1,527,752
Predecessor | Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations		435,000
Predecessor | Fair Values | Golden Gate V
Debt
Non-recourse funding obligations		461,400
Predecessor | Fair Values | Level 3
Assets:
Mortgage loans on real estate		5,524,059
Policy loans		1,758,237
Fixed maturities, held-to-maturity		458,422
Liabilities:
Stable value product account balances		1,973,624
Annuity account balances		10,491,775
Debt
Non-recourse funding obligations		$ 1,753,183

DERIVATIVE FINANCIAL INSTRUM128

DERIVATIVE FINANCIAL INSTRUMENTS (Details) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Dec. 31, 2015USD ($)position	Dec. 31, 2015USD ($)positionportfolio_maintenance_agreement	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Notional amount and fair value of the entity's derivative financial instruments
Portfolio maintenance agreements with PLC | portfolio_maintenance_agreement			2
Successor
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		$ 58,436
Notional Amount, Other long-term investments		8,037,250	$ 8,037,250
Fair Value, Other long-term investments		323,570	323,570
Notional Amount, Other liabilities		9,380,020	9,380,020
Fair Value, Other liabilities		522,225	522,225
Successor | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments		49,007	49,007
Fair Value, Other liabilities		67,528	67,528
Successor | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities		100,329	100,329
Successor | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities		29,629	29,629
Successor | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments		1,215	1,215
Fair Value, Other liabilities		178,362	178,362
Successor | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities		102,378	102,378
Successor | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments		$ 18,161	$ 18,161
Successor | Cash flow hedges | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Positions held | position		0	0
Successor | Cash flow hedges | Inflation
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		$ 0	$ 0
Fair Value, Other liabilities		0	0
Successor | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		58,436
Successor | Derivatives not designated as hedging instruments | PLC
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		1,619,200	1,619,200
Fair Value, Other long-term investments		18,161	18,161
Successor | Derivatives not designated as hedging instruments | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		(103,082)
Successor | Derivatives not designated as hedging instruments | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross		123
Successor | Derivatives not designated as hedging instruments | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(1,010)
Successor | Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		282,373	282,373
Fair Value, Other long-term investments		1,537	1,537
Notional Amount, Other liabilities		793,763	793,763
Fair Value, Other liabilities		1,539	1,539
Successor | Derivatives not designated as hedging instruments | Interest rate futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		(14,818)
Successor | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		262,485	262,485
Fair Value, Other long-term investments		1,275	1,275
Notional Amount, Other liabilities		233,412	233,412
Fair Value, Other liabilities		2,599	2,599
Successor | Derivatives not designated as hedging instruments | Equity futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		(5,033)
Successor | Derivatives not designated as hedging instruments | Equity futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross		(355)
Successor | Derivatives not designated as hedging instruments | Equity futures | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		144
Successor | Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		226,936	226,936
Fair Value, Other long-term investments		2,499	2,499
Notional Amount, Other liabilities		46,692	46,692
Fair Value, Other liabilities		1,115	1,115
Successor | Derivatives not designated as hedging instruments | Currency futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		7,169
Successor | Derivatives not designated as hedging instruments | Volatility futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross		5
Successor | Derivatives not designated as hedging instruments | Variance swaps | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		0
Successor | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		2,198,340	2,198,340
Fair Value, Other long-term investments		179,458	179,458
Notional Amount, Other liabilities		1,205,204	1,205,204
Fair Value, Other liabilities		22,167	22,167
Successor | Derivatives not designated as hedging instruments | Equity options | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		(27,733)
Successor | Derivatives not designated as hedging instruments | Equity options | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross		1,211
Successor | Derivatives not designated as hedging instruments | Equity options | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(540)
Successor | Derivatives not designated as hedging instruments | Volatility options | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		0
Successor | Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		225,000	225,000
Fair Value, Other long-term investments		3,663	$ 3,663
Successor | Derivatives not designated as hedging instruments | Interest rate swaptions | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		$ (13,354)
Successor | Derivatives not designated as hedging instruments | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Positions held | position		0	0
Realized investment gains (losses) - derivatives, gross		$ 0
Notional Amount, Other long-term investments		1,435,000	$ 1,435,000
Fair Value, Other long-term investments		66,408	66,408
Notional Amount, Other liabilities		475,000	475,000
Fair Value, Other liabilities		16,579	16,579
Successor | Derivatives not designated as hedging instruments | Interest rate swaps | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		(85,942)
Successor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		1,723,081	1,723,081
Fair Value, Other long-term investments		49,007	49,007
Notional Amount, Other liabilities		1,834,308	1,834,308
Fair Value, Other liabilities		67,528	67,528
Successor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		6,512
Successor | Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		1,110,790	1,110,790
Fair Value, Other liabilities		100,329	100,329
Successor | Derivatives not designated as hedging instruments | Embedded derivative - FIA | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross		(738)
Successor | Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		57,760	57,760
Fair Value, Other liabilities		29,629	29,629
Successor | Derivatives not designated as hedging instruments | Embedded derivative - IUL | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(614)
Successor | Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		166,092
Notional Amount, Other long-term investments		64,593	64,593
Fair Value, Other long-term investments		1,215	1,215
Notional Amount, Other liabilities		2,473,427	2,473,427
Fair Value, Other liabilities		178,362	178,362
Successor | Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		1,149,664	1,149,664
Fair Value, Other liabilities		102,378	102,378
Successor | Derivatives not designated as hedging instruments | Funds withheld derivative | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		30,117
Successor | Derivatives not designated as hedging instruments | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(3,778)
Successor | Derivatives not designated as hedging instruments | Other derivatives
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		91
Notional Amount, Other long-term investments		242	242
Fair Value, Other long-term investments		$ 347	$ 347
Predecessor
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	$ 22,031			$ (13,492)	$ 82,161
Notional Amount, Other long-term investments				7,174,182
Fair Value, Other long-term investments				270,701
Notional Amount, Other liabilities				7,661,143
Fair Value, Other liabilities				629,535
Predecessor | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments				37,497
Fair Value, Other liabilities				63,460
Predecessor | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities				124,465
Predecessor | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities				6,691
Predecessor | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments				1,051
Fair Value, Other liabilities				311,727
Predecessor | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other liabilities				57,305
Predecessor | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Fair Value, Other long-term investments				6,077
Predecessor | Cash flow hedges | Inflation
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities				40,469
Fair Value, Other liabilities				142
Predecessor | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	22,031			(13,492)	82,161
Predecessor | Derivatives not designated as hedging instruments | PLC
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				1,497,010
Fair Value, Other long-term investments				6,077
Predecessor | Derivatives not designated as hedging instruments | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	75,861			94,002	(112,006)
Predecessor | Derivatives not designated as hedging instruments | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	(1,032)			(6,136)	1,092
Predecessor | Derivatives not designated as hedging instruments | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(598)			157	0
Predecessor | Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				27,977
Fair Value, Other long-term investments				938
Notional Amount, Other liabilities				0
Fair Value, Other liabilities				0
Predecessor | Derivatives not designated as hedging instruments | Interest rate futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	1,413			27,801	(31,216)
Predecessor | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				26,483
Fair Value, Other long-term investments				427
Notional Amount, Other liabilities				385,256
Fair Value, Other liabilities				15,069
Predecessor | Derivatives not designated as hedging instruments | Equity futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	9,221			(26,104)	(52,640)
Predecessor | Derivatives not designated as hedging instruments | Equity futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	(184)			870	173
Predecessor | Derivatives not designated as hedging instruments | Equity futures | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	3			15	0
Predecessor | Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				197,648
Fair Value, Other long-term investments				2,384
Notional Amount, Other liabilities				0
Fair Value, Other liabilities				0
Predecessor | Derivatives not designated as hedging instruments | Currency futures | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	7,778			14,433	(469)
Predecessor | Derivatives not designated as hedging instruments | Volatility futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	0			20	(5)
Predecessor | Derivatives not designated as hedging instruments | Variance swaps | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	0			(744)	(11,310)
Predecessor | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				1,921,167
Fair Value, Other long-term investments				163,212
Notional Amount, Other liabilities				699,295
Fair Value, Other liabilities				47,077
Predecessor | Derivatives not designated as hedging instruments | Equity options | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	3,047			(41,216)	(95,022)
Predecessor | Derivatives not designated as hedging instruments | Equity options | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	(2,617)			9,906	1,866
Predecessor | Derivatives not designated as hedging instruments | Equity options | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(115)			150	0
Predecessor | Derivatives not designated as hedging instruments | Volatility options | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	0			0	(115)
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				625,000
Fair Value, Other long-term investments				8,012
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaptions | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	9,268			(22,280)	1,575
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	0			0	2,985
Notional Amount, Other long-term investments				1,550,000
Fair Value, Other long-term investments				50,743
Notional Amount, Other liabilities				275,000
Fair Value, Other liabilities				3,599
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaps | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	122,710			214,164	(157,408)
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments				1,302,895
Fair Value, Other long-term investments				37,497
Notional Amount, Other liabilities				1,702,899
Fair Value, Other liabilities				63,460
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	(68,503)			(119,844)	162,737
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities				749,933
Fair Value, Other liabilities				124,465
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - FIA | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	1,769			(16,932)	(942)
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities				12,019
Fair Value, Other liabilities				6,691
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - IUL | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(486)			(8)	0
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(68,026)			(105,276)	205,176
Notional Amount, Other long-term investments				25,760
Fair Value, Other long-term investments				1,051
Notional Amount, Other liabilities				2,562,848
Fair Value, Other liabilities				311,727
Predecessor | Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities				1,233,424
Fair Value, Other liabilities				57,305
Predecessor | Derivatives not designated as hedging instruments | Funds withheld derivative | Variable annuity
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	(9,073)			47,792	71,862
Predecessor | Derivatives not designated as hedging instruments | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	15,863			4,085	(15,072)
Predecessor | Derivatives not designated as hedging instruments | Other derivatives
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	$ (37)			(324)	$ (14)
Notional Amount, Other long-term investments				242
Fair Value, Other long-term investments				$ 360

DERIVATIVE FINANCIAL INSTRUM129

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Derivative Instruments, Gain (Loss) [Line Items]
Realized investment gains (losses)		$ (167,359)
Predecessor
Derivative Instruments, Gain (Loss) [Line Items]
Realized investment gains (losses)	$ 73,062		$ 142,016	$ (178,134)
Modco trading portfolio | Successor
Derivative Instruments, Gain (Loss) [Line Items]
Realized investment gains (losses)		$ (167,359)
Modco trading portfolio | Predecessor
Derivative Instruments, Gain (Loss) [Line Items]
Realized investment gains (losses)	$ 73,062		$ 142,016	$ (178,134)

DERIVATIVE FINANCIAL INSTRUM130

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) - Cash flow hedges - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)		$ (131)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)		(131)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)		73
Successor | Inflation
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)		(131)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)		(131)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)		$ 73
Predecessor
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	$ 13		$ (4)	$ 1,130
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(36)		(1,777)	(2,349)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	(7)		(223)	(190)
Predecessor | Inflation
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	13		(4)	1,130
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(36)		(1,777)	(2,349)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	$ (7)		$ (223)	$ (190)

OFFSETTING OF ASSETS AND LIA131

OFFSETTING OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	$ 323,570
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	323,570
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	105,842
Net Amount	175,346
Successor | Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	254,840
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	254,840
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	105,842
Net Amount	106,616
Successor | Free-Standing derivatives
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	254,840
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	254,840
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	105,842
Net Amount	106,616
Successor | Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	68,730
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	68,730
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	0
Net Amount	68,730
Successor | Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	1,215
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	1,215
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	0
Net Amount	1,215
Successor | Embedded derivative - GMWB
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	49,007
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	49,007
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	0
Net Amount	49,007
Successor | Derivatives with PLC
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	18,161
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	18,161
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	0
Net Amount	18,161
Successor | Other
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	347
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Assets Presented in the Statement of Financial Position	347
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	0
Net Amount	$ 347
Predecessor
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		$ 270,701
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		270,701
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Net Amount		143,154
Predecessor | Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		225,716
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		225,716
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Net Amount		98,169
Predecessor | Free-Standing derivatives
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		225,716
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		225,716
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Net Amount		98,169
Predecessor | Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		44,985
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		44,985
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		0
Net Amount		44,985
Predecessor | Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		1,051
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		1,051
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		0
Net Amount		1,051
Predecessor | Embedded derivative - GMWB
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		37,497
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		37,497
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		0
Net Amount		37,497
Predecessor | Derivatives with PLC
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		6,077
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		6,077
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		0
Net Amount		6,077
Predecessor | Other
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets		360
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Assets Presented in the Statement of Financial Position		360
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		0
Net Amount		$ 360

OFFSETTING OF ASSETS AND LIA132

OFFSETTING OF ASSETS AND LIABILITIES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Successor
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	$ 522,225
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	522,225
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	1,617
Net Amount	478,226
Repurchase agreements
Gross Amounts of Recognized Liabilities	438,185
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	438,185
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	438,185
Total Liabilities
Gross Amounts of Recognized Liabilities	960,410
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	960,410
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	1,617
Net Amount	916,411
Successor | Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	43,999
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	43,999
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	1,617
Net Amount	0
Successor | Free-Standing derivatives
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	43,999
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	43,999
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	42,382
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	1,617
Net Amount	0
Successor | Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	478,226
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	478,226
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	478,226
Successor | Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	178,362
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	178,362
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	178,362
Successor | Funds withheld derivative
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	102,378
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	102,378
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	102,378
Successor | Embedded derivative - GMWB
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	67,528
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	67,528
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	67,528
Successor | Embedded derivative - FIA
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	100,329
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	100,329
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	100,329
Successor | Embedded derivative - IUL
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities	29,629
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	29,629
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0
Net Amount	$ 29,629
Predecessor
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		$ 629,535
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		629,535
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		12,258
Net Amount		563,665
Repurchase agreements
Gross Amounts of Recognized Liabilities		50,000
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		50,000
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		50,000
Total Liabilities
Gross Amounts of Recognized Liabilities		679,535
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		679,535
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid		12,258
Net Amount		613,665
Predecessor | Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		65,887
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		65,887
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		12,258
Net Amount		17
Predecessor | Free-Standing derivatives
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		65,887
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		65,887
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		12,258
Net Amount		17
Predecessor | Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		563,648
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		563,648
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		563,648
Predecessor | Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		311,727
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		311,727
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		311,727
Predecessor | Funds withheld derivative
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		57,305
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		57,305
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		57,305
Predecessor | Embedded derivative - GMWB
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		63,460
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		63,460
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		63,460
Predecessor | Embedded derivative - FIA
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		124,465
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		124,465
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		124,465
Predecessor | Embedded derivative - IUL
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities		6,691
Gross Amounts Offset in the Statement of Financial Position		0
Net Amounts of Liabilities Presented in the Statement of Financial Position		6,691
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments		0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid		0
Net Amount		$ 6,691

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended							11 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 01, 2015
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	$ 4,817
Operating Segment Assets
Goodwill													$ 735,700
Life Marketing
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,813
Acquisitions
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	5,033
Annuities
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	(6,999)
Stable Value Products
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	25
Asset Protection
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	1,858
Corporate and Other
Realized gain (losses) on derivatives
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	87
Successor
Summarized financial information for the company's segments
Revenues		$ 640,961	$ 976,457	$ 1,006,671	$ 862,953					$ 3,487,042
Realized investment (losses) gains - investments										(185,202)
Realized investment (losses) gains - derivatives										87,663
Income tax expense		(8,116)	(33,824)	(42,542)	9,991					(74,491)
Net income		16,420	75,274	113,579	(25,576)					179,697
Realized gain (losses) on investments
Investment gains (losses)										(193,928)
Less: amortization related to DAC/VOBA and benefits and settlement expenses										(8,726)
Realized investment (losses) gains - investments										(185,202)
Realized gain (losses) on derivatives
Realized investment gains (losses) - derivatives, gross										58,436
Less: VA GMWB economic cost										(29,227)
Realized investment (losses) gains - derivatives										87,663
Net investment income		$ 272,211	438,894	$ 413,544	$ 408,147					1,532,796
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										95,064
Other-than-temporary impairments										26,993
Operating Segment Assets
Investments and other assets			65,091,991							65,091,991
Deferred policy acquisition costs and value of business acquired			1,562,373							1,562,373
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			645,131							645,131
Goodwill	735,700		732,443							732,443
Total assets			68,031,938							68,031,938
Successor | Life Marketing
Summarized financial information for the company's segments
Revenues										1,316,832
Realized gain (losses) on derivatives
Net investment income										446,518
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										107,811
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired			1,119,515							1,119,515
Successor | Acquisitions
Summarized financial information for the company's segments
Revenues										1,333,430
Realized gain (losses) on derivatives
Net investment income										639,422
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										2,035
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired			(178,662)							(178,662)
Successor | Annuities
Summarized financial information for the company's segments
Revenues										396,651
Realized gain (losses) on derivatives
Net investment income										296,839
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										(41,071)
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired			578,742							578,742
Successor | Stable Value Products
Summarized financial information for the company's segments
Revenues										79,670
Realized gain (losses) on derivatives
Net investment income										78,459
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										43
Operating Segment Assets
Investments and other assets			2,006,263							2,006,263
Deferred policy acquisition costs and value of business acquired			2,357							2,357
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			9,389							9,389
Goodwill			113,813							113,813
Total assets			2,131,822							2,131,822
Successor | Asset Protection
Summarized financial information for the company's segments
Revenues										294,657
Realized gain (losses) on derivatives
Net investment income										14,042
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										26,219
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired			40,421							40,421
Successor | Corporate and Other
Summarized financial information for the company's segments
Revenues										65,802
Realized gain (losses) on derivatives
Net investment income										57,516
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										27
Successor | Operating
Summarized financial information for the company's segments
Segment Operating Income (Loss)										351,727
Successor | Operating | Life Marketing
Summarized financial information for the company's segments
Segment Operating Income (Loss)										54,864
Operating Segment Assets
Investments and other assets			13,258,639							13,258,639
Deferred policy acquisition costs and value of business acquired			1,119,515							1,119,515
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			319,623							319,623
Goodwill			200,274							200,274
Total assets			14,898,051							14,898,051
Successor | Operating | Acquisitions
Summarized financial information for the company's segments
Segment Operating Income (Loss)										194,654
Operating Segment Assets
Investments and other assets			19,879,988							19,879,988
Deferred policy acquisition costs and value of business acquired			(178,662)							(178,662)
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			39,658							39,658
Goodwill			14,524							14,524
Total assets			19,755,508							19,755,508
Successor | Operating | Annuities
Summarized financial information for the company's segments
Segment Operating Income (Loss)										146,828
Operating Segment Assets
Investments and other assets			19,715,901							19,715,901
Deferred policy acquisition costs and value of business acquired			578,742							578,742
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			196,780							196,780
Goodwill			336,677							336,677
Total assets			20,828,100							20,828,100
Successor | Operating | Stable Value Products
Summarized financial information for the company's segments
Segment Operating Income (Loss)										56,581
Successor | Operating | Asset Protection
Summarized financial information for the company's segments
Segment Operating Income (Loss)										17,632
Operating Segment Assets
Investments and other assets			766,294							766,294
Deferred policy acquisition costs and value of business acquired			40,421							40,421
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			79,681							79,681
Goodwill			67,155							67,155
Total assets			953,551							953,551
Successor | Operating | Corporate and Other
Summarized financial information for the company's segments
Segment Operating Income (Loss)										(118,832)
Operating Segment Assets
Investments and other assets			9,464,906							9,464,906
Deferred policy acquisition costs and value of business acquired			0							0
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			0							0
Goodwill			0							0
Total assets			9,464,906							9,464,906
Successor | Adjustments
Operating Segment Assets
Investments and other assets			0							0
Deferred policy acquisition costs and value of business acquired			0							0
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)			0							0
Goodwill			0							0
Total assets			$ 0							$ 0
Predecessor
Summarized financial information for the company's segments
Revenues	459,646					$ 1,118,912	$ 1,116,760	$ 1,139,186	$ 1,089,349		$ 4,464,207	$ 3,604,670
Realized investment (losses) gains - investments	89,414										151,035	(140,236)
Realized investment (losses) gains - derivatives	24,433										12,263	109,553
Income tax expense	(44,325)					(78,917)	(62,287)	(56,572)	(49,062)		(246,838)	(130,897)
Net income	88,522					151,526	121,833	116,043	102,549		491,951	291,602
Realized gain (losses) on investments
Investment gains (losses)	80,672										198,027	(143,984)
Less: amortization related to DAC/VOBA and benefits and settlement expenses	(8,742)										46,992	(3,748)
Realized investment (losses) gains - investments	89,414										151,035	(140,236)
Realized gain (losses) on derivatives
Realized investment gains (losses) - derivatives, gross	22,031										(13,492)	82,161
Less: VA GMWB economic cost	(2,402)										(25,755)	(27,392)
Realized investment (losses) gains - derivatives	24,433										12,263	109,553
Net investment income	164,605					525,539	$ 532,861	$ 525,576	$ 514,037		2,098,013	1,836,188
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,817										308,320	154,660
Other-than-temporary impairments	481										7,275	22,400
Operating Segment Assets
Investments and other assets						66,759,495					66,759,495
Deferred policy acquisition costs and value of business acquired						3,155,046					3,155,046	3,476,622
Other intangibles, net of accumulated depreciation (2015 Successor - $37,869)						0					0
Goodwill						77,577					77,577	80,675
Total assets						69,992,118					69,992,118
Predecessor | Life Marketing
Summarized financial information for the company's segments
Revenues	133,361										1,421,795	1,324,409
Realized gain (losses) on derivatives
Net investment income	47,622										553,006	521,219
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,813										175,807	25,774
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						1,973,156					1,973,156	2,071,470
Predecessor | Acquisitions
Summarized financial information for the company's segments
Revenues	139,761										1,720,179	1,186,579
Realized gain (losses) on derivatives
Net investment income	71,088										874,653	617,298
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	5,033										60,031	72,762
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						600,482					600,482	799,255
Goodwill						29,419					29,419	32,517
Predecessor | Annuities
Summarized financial information for the company's segments
Revenues	130,918										785,176	569,004
Realized gain (losses) on derivatives
Net investment income	37,189										465,849	468,329
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	(6,999)										47,448	31,498
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						539,965					539,965	554,974
Predecessor | Stable Value Products
Summarized financial information for the company's segments
Revenues	8,181										127,708	122,974
Realized gain (losses) on derivatives
Net investment income	6,888										107,170	123,798
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	25										380	398
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						621					621	1,001
Predecessor | Asset Protection
Summarized financial information for the company's segments
Revenues	24,566										305,396	296,782
Realized gain (losses) on derivatives
Net investment income	1,540										18,830	19,046
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	1,858										24,169	23,603
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						40,503					40,503	49,276
Goodwill						48,158					48,158	48,158
Predecessor | Corporate and Other
Summarized financial information for the company's segments
Revenues	22,859										103,953	104,922
Realized gain (losses) on derivatives
Net investment income	278										78,505	86,498
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	87										485	625
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired						319					319	646
Predecessor | Operating
Summarized financial information for the company's segments
Segment Operating Income (Loss)	19,000										575,491	453,182
Predecessor | Operating | Life Marketing
Summarized financial information for the company's segments
Segment Operating Income (Loss)	(2,271)										116,875	106,812
Operating Segment Assets
Investments and other assets						13,858,491					13,858,491
Deferred policy acquisition costs and value of business acquired						1,973,156					1,973,156
Goodwill						0					0
Total assets						15,831,647					15,831,647
Predecessor | Operating | Acquisitions
Summarized financial information for the company's segments
Segment Operating Income (Loss)	20,134										254,021	154,003
Operating Segment Assets
Investments and other assets						19,858,284					19,858,284
Deferred policy acquisition costs and value of business acquired						600,482					600,482
Goodwill						29,419					29,419
Total assets						20,488,185					20,488,185
Predecessor | Operating | Annuities
Summarized financial information for the company's segments
Segment Operating Income (Loss)	11,363										204,015	166,278
Operating Segment Assets
Investments and other assets						20,678,948					20,678,948
Deferred policy acquisition costs and value of business acquired						539,965					539,965
Goodwill						0					0
Total assets						21,218,913					21,218,913
Predecessor | Operating | Stable Value Products
Summarized financial information for the company's segments
Segment Operating Income (Loss)	4,529										73,354	80,561
Operating Segment Assets
Investments and other assets						1,958,867					1,958,867
Deferred policy acquisition costs and value of business acquired						621					621
Goodwill						0					0
Total assets						1,959,488					1,959,488
Predecessor | Operating | Asset Protection
Summarized financial information for the company's segments
Segment Operating Income (Loss)	1,907										26,274	20,148
Operating Segment Assets
Investments and other assets						832,887					832,887
Deferred policy acquisition costs and value of business acquired						40,503					40,503
Goodwill						48,158					48,158
Total assets						921,548					921,548
Predecessor | Operating | Corporate and Other
Summarized financial information for the company's segments
Segment Operating Income (Loss)	$ (16,662)										(99,048)	$ (74,620)
Operating Segment Assets
Investments and other assets						9,572,018					9,572,018
Deferred policy acquisition costs and value of business acquired						319					319
Goodwill						0					0
Total assets						9,572,337					9,572,337
Predecessor | Adjustments
Operating Segment Assets
Investments and other assets						0					0
Deferred policy acquisition costs and value of business acquired						0					0
Goodwill						0					0
Total assets						$ 0					$ 0

CONSOLIDATED QUARTERLY RESUL134

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended							11 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Entity Information [Line Items]
Net of reinsurance ceded	$ 168,950
Successor
Entity Information [Line Items]
Premiums and policy fees		$ 506,386	$ 864,806	$ 793,572	$ 828,058					$ 2,992,822
Reinsurance ceded		(146,813)	(364,606)	(312,256)	(351,196)					(1,174,871)
Net of reinsurance ceded		359,573	500,200	481,316	476,862					1,817,951
Net investment income		272,211	438,894	413,544	408,147					1,532,796
Realized investment gains (losses)		(40,004)	(35,113)	37,140	(97,515)					(135,492)
Other income		49,181	72,476	74,671	75,459					271,787
Total revenues		640,961	976,457	1,006,671	862,953					3,487,042
Total benefits and expenses		616,425	867,359	850,550	898,520					3,232,854
Income before income tax		24,536	109,098	156,121	(35,567)					254,188
Income tax expense		8,116	33,824	42,542	(9,991)					74,491
Net income		$ 16,420	$ 75,274	$ 113,579	$ (25,576)					$ 179,697
Predecessor
Entity Information [Line Items]
Premiums and policy fees	260,582					$ 867,263	$ 755,300	$ 848,183	$ 812,323		$ 3,283,069	$ 2,967,322
Reinsurance ceded	(91,632)					(430,878)	(283,104)	(348,255)	(333,506)		(1,395,743)	(1,387,437)
Net of reinsurance ceded	168,950					436,385	472,196	499,928	478,817		1,887,326	1,579,885
Net investment income	164,605					525,539	532,861	525,576	514,037		2,098,013	1,836,188
Realized investment gains (losses)	102,703					71,869	39,299	42,386	30,981		184,535	(61,823)
Other income	23,388					85,119	72,404	71,296	65,514		294,333	250,420
Total revenues	459,646					1,118,912	1,116,760	1,139,186	1,089,349		4,464,207	3,604,670
Total benefits and expenses	326,799					888,469	932,640	966,571	937,738		3,725,418	3,182,171
Income before income tax	132,847					230,443	184,120	172,615	151,611		738,789	422,499
Income tax expense	44,325					78,917	62,287	56,572	49,062		246,838	130,897
Net income	$ 88,522					$ 151,526	$ 121,833	$ 116,043	$ 102,549		$ 491,951	$ 291,602

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent events	Jan. 15, 2016USD ($)
Subsequent Event [Line Items]
Estimated average annual expense of credit enhancement	$ 3,100,000
Financing Agreement With Golden Gate And Syndicate Of Risk Takers
Subsequent Event [Line Items]
Term of financing agreement	18 years
Financing capacity under the agreement	$ 2,188,000,000
Golden Gate
Subsequent Event [Line Items]
Extraordinary dividend	300,000,000
Golden Gate | Series Of Non Recourse Funding Obligations
Subsequent Event [Line Items]
Outstanding non-recourse funding obligations	800,000,000
Golden Gate | Surplus Notes | Steel City Notes
Subsequent Event [Line Items]
Amount of debt issued	2,188,000,000
Steel City | Surplus Notes | Golden Gate Surplus Notes
Subsequent Event [Line Items]
Amount of debt issued	$ 2,188,000,000

SCHEDULE III - SUPPLEMENTARY136

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended							11 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary insurance information
Net Premiums and Policy Fees	$ 168,950
Net Investment Income	164,605
Benefits and Settlement Expenses	266,575
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,817
Other Operating Expenses	55,407
Premiums Written	16,821
Life Marketing
Supplementary insurance information
Net Premiums and Policy Fees	84,926
Net Investment Income	47,622
Benefits and Settlement Expenses	123,179
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,813
Other Operating Expenses	7,124
Premiums Written	12
Acquisitions
Supplementary insurance information
Net Premiums and Policy Fees	62,343
Net Investment Income	71,088
Benefits and Settlement Expenses	101,926
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	5,033
Other Operating Expenses	9,041
Premiums Written	2,134
Annuities
Supplementary insurance information
Net Premiums and Policy Fees	6,355
Net Investment Income	37,189
Benefits and Settlement Expenses	30,047
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	(6,999)
Other Operating Expenses	9,333
Stable Value Products
Supplementary insurance information
Net Investment Income	6,888
Benefits and Settlement Expenses	2,255
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	25
Other Operating Expenses	79
Asset Protection
Supplementary insurance information
Net Premiums and Policy Fees	13,983
Net Investment Income	1,540
Benefits and Settlement Expenses	7,447
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	1,858
Other Operating Expenses	13,354
Premiums Written	13,330
Corporate and Other
Supplementary insurance information
Net Premiums and Policy Fees	1,343
Net Investment Income	278
Benefits and Settlement Expenses	1,721
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	87
Other Operating Expenses	16,476
Premiums Written	1,345
Successor
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			$ 1,562,373							$ 1,562,373
Future Policy Benefits and Claims			29,703,190							29,703,190
Unearned Premiums			651,205							651,205
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			13,921,256							13,921,256
Net Premiums and Policy Fees		$ 359,573	500,200	$ 481,316	$ 476,862					1,817,951
Net Investment Income										1,532,796
Benefits and Settlement Expenses										2,535,388
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										95,064
Other Operating Expenses										602,402
Premiums Written										207,734
Successor | Life Marketing
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			1,119,515							1,119,515
Future Policy Benefits and Claims			13,869,102							13,869,102
Unearned Premiums			134							134
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			371,618							371,618
Net Premiums and Policy Fees										882,171
Net Investment Income										446,518
Benefits and Settlement Expenses										1,109,840
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										107,811
Other Operating Expenses										58,609
Premiums Written										148
Successor | Acquisitions
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			(178,662)							(178,662)
Future Policy Benefits and Claims			14,508,877							14,508,877
Unearned Premiums			3,082							3,082
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			4,254,579							4,254,579
Net Premiums and Policy Fees										690,741
Net Investment Income										639,422
Benefits and Settlement Expenses										1,067,482
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										2,035
Other Operating Expenses										89,960
Premiums Written										32,134
Successor | Annuities
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			578,742							578,742
Future Policy Benefits and Claims			1,196,131							1,196,131
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			7,090,171							7,090,171
Net Premiums and Policy Fees										62,583
Net Investment Income										296,839
Benefits and Settlement Expenses										224,934
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										(41,071)
Other Operating Expenses										123,585
Successor | Stable Value Products
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			2,357							2,357
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			2,131,822							2,131,822
Net Investment Income										78,459
Benefits and Settlement Expenses										19,348
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										43
Other Operating Expenses										2,620
Successor | Asset Protection
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired			40,421							40,421
Future Policy Benefits and Claims			60,585							60,585
Unearned Premiums			647,186							647,186
Net Premiums and Policy Fees										168,780
Net Investment Income										14,042
Benefits and Settlement Expenses										99,216
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										26,219
Other Operating Expenses										151,590
Premiums Written										161,869
Successor | Corporate and Other
Supplementary insurance information
Future Policy Benefits and Claims			68,495							68,495
Unearned Premiums			803							803
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds			$ 73,066							73,066
Net Premiums and Policy Fees										13,676
Net Investment Income										57,516
Benefits and Settlement Expenses										14,568
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired										27
Other Operating Expenses										176,038
Premiums Written										$ 13,583
Predecessor
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						$ 3,155,046					$ 3,155,046	$ 3,476,622
Future Policy Benefits and Claims						29,944,477					29,944,477	29,771,958
Unearned Premiums						1,515,001					1,515,001	1,500,394
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						14,340,542					14,340,542	14,899,185
Net Premiums and Policy Fees	168,950					436,385	$ 472,196	$ 499,928	$ 478,817		1,887,326	1,579,885
Net Investment Income											2,098,013	1,836,188
Benefits and Settlement Expenses											2,786,463	2,473,988
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,817										308,320	154,660
Other Operating Expenses											630,635	553,523
Premiums Written											213,344	200,724
Predecessor | Life Marketing
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						1,973,156					1,973,156	2,071,470
Future Policy Benefits and Claims						14,077,360					14,077,360	13,504,869
Unearned Premiums						772,880					772,880	812,929
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						349,698					349,698	311,290
Net Premiums and Policy Fees											854,186	796,109
Net Investment Income											553,006	521,219
Benefits and Settlement Expenses											1,075,386	1,143,132
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	4,813										175,807	25,774
Other Operating Expenses											47,688	46,263
Premiums Written											151	173
Predecessor | Acquisitions
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						600,482					600,482	799,255
Future Policy Benefits and Claims						14,740,562					14,740,562	15,112,574
Unearned Premiums						3,473					3,473	4,680
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						4,770,181					4,770,181	4,734,487
Net Premiums and Policy Fees											772,020	519,477
Net Investment Income											874,653	617,298
Benefits and Settlement Expenses											1,247,836	851,386
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	5,033										60,031	72,762
Other Operating Expenses											122,349	78,244
Premiums Written											35,857	24,781
Predecessor | Annuities
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						539,965					539,965	554,974
Future Policy Benefits and Claims						1,015,928					1,015,928	1,037,348
Unearned Premiums						120,850					120,850	102,734
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						7,190,908					7,190,908	7,228,119
Net Premiums and Policy Fees											75,446	80,343
Net Investment Income											465,849	468,329
Benefits and Settlement Expenses											314,488	318,173
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	(6,999)										47,448	31,498
Other Operating Expenses											115,643	110,266
Predecessor | Stable Value Products
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						621					621	1,001
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						1,959,488					1,959,488	2,559,552
Net Investment Income											107,170	123,798
Benefits and Settlement Expenses											35,559	41,793
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	25										380	398
Other Operating Expenses											1,413	1,805
Predecessor | Asset Protection
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						40,503					40,503	49,276
Future Policy Benefits and Claims						46,963					46,963	49,362
Unearned Premiums						616,908					616,908	578,755
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds												1,556
Net Premiums and Policy Fees											169,212	165,807
Net Investment Income											18,830	19,046
Benefits and Settlement Expenses											93,193	97,174
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	1,858										24,169	23,603
Other Operating Expenses											161,760	155,857
Premiums Written											160,948	157,629
Predecessor | Corporate and Other
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired						319					319	646
Future Policy Benefits and Claims						63,664					63,664	67,805
Unearned Premiums						890					890	1,296
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds						$ 70,267					70,267	64,181
Net Premiums and Policy Fees											16,462	18,149
Net Investment Income											78,505	86,498
Benefits and Settlement Expenses											20,001	22,330
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired	$ 87										485	625
Other Operating Expenses											181,782	161,088
Premiums Written											$ 16,388	$ 18,141

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Successor
Life insurance in-force
Gross Amount		$ 727,705,256
Ceded to Other Companies		(368,142,294)
Assumed from Other Companies		39,546,742
Net Amount		$ 399,109,704
Percentage of Amount Assumed to Net		9.90%
Premiums and policy fees:
Gross Amount		$ 2,659,386
Ceded to Other Companies		(1,174,871)
Assumed from Other Companies		333,436
Net Amount		1,817,951
Successor | Life insurance
Premiums and policy fees:
Gross Amount		2,360,643
Ceded to Other Companies		(1,058,706)
Assumed from Other Companies		308,280
Net Amount		$ 1,610,217
Percentage of Amount Assumed to Net		19.10%
Annuity policy fees		$ 77,200
Successor | Accident/health insurance
Premiums and policy fees:
Gross Amount		70,243
Ceded to Other Companies		(36,871)
Assumed from Other Companies		18,252
Net Amount		$ 51,624
Percentage of Amount Assumed to Net		35.40%
Successor | Property and liability insurance
Premiums and policy fees:
Gross Amount		$ 228,500
Ceded to Other Companies		(79,294)
Assumed from Other Companies		6,904
Net Amount		$ 156,110
Percentage of Amount Assumed to Net		4.40%
Predecessor
Life insurance in-force
Gross Amount			$ 721,036,332	$ 726,697,151
Ceded to Other Companies			(388,890,060)	(416,809,287)
Assumed from Other Companies			43,237,358	46,752,176
Net Amount			$ 375,383,630	$ 356,640,040
Percentage of Amount Assumed to Net			11.50%	13.10%
Premiums and policy fees:
Gross Amount	$ 229,506		$ 2,903,656	$ 2,628,133
Ceded to Other Companies	(91,632)		(1,395,743)	(1,387,437)
Assumed from Other Companies	31,076		379,413	339,189
Net Amount	168,950		1,887,326	1,579,885
Predecessor | Life insurance
Premiums and policy fees:
Gross Amount	204,185		2,603,956	2,371,872
Ceded to Other Companies	(80,657)		(1,279,908)	(1,299,631)
Assumed from Other Companies	28,601		349,934	306,921
Net Amount	$ 152,129		$ 1,673,982	$ 1,379,162
Percentage of Amount Assumed to Net	18.80%		20.90%	22.30%
Annuity policy fees	$ 7,700		$ 92,800	$ 88,700
Predecessor | Accident/health insurance
Premiums and policy fees:
Gross Amount	6,846		81,037	45,262
Ceded to Other Companies	(4,621)		(42,741)	(20,011)
Assumed from Other Companies	1,809		20,804	24,291
Net Amount	$ 4,034		$ 59,100	$ 49,542
Percentage of Amount Assumed to Net	44.80%		35.20%	49.00%
Predecessor | Property and liability insurance
Premiums and policy fees:
Gross Amount	$ 18,475		$ 218,663	$ 210,999
Ceded to Other Companies	(6,354)		(73,094)	(67,795)
Assumed from Other Companies	666		8,675	7,977
Net Amount	$ 12,787		$ 154,244	$ 151,181
Percentage of Amount Assumed to Net	5.20%		5.60%	5.30%

SCHEDULE V - VALUATION AND Q138

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowance for losses on commercial mortgage loans - USD ($) $ in Thousands	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Successor
Changes in valuation and qualifying accounts
Balance at beginning of period		$ 0
Additions, Charged to costs and expenses		2,561
Additions, Charges to other accounts		0
Deductions		(2,561)
Balance at end of period	$ 0	0
Predecessor
Changes in valuation and qualifying accounts
Balance at beginning of period	5,720	$ 2,500	$ 3,130
Additions, Charged to costs and expenses	(2,359)		3,265
Additions, Charges to other accounts	0		0
Deductions	(861)		(675)
Balance at end of period	$ 2,500		$ 5,720