Protective Life Insurance 10-K 25 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 02, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	PROTECTIVE LIFE INSURANCE CO
Entity Central Index Key	0000310826
Document Type	10-K
Document Period End Date	Dec. 31, 2018
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	2018
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and policy fees	$ 965,275	$ 871,892	$ 935,928	$ 883,413	$ 888,134	$ 849,743	$ 862,906	$ 855,579	$ 3,656,508	$ 3,456,362	$ 3,389,419
Reinsurance ceded	(378,112)	(267,910)	(391,864)	(345,624)	(377,261)	(326,572)	(344,208)	(319,055)	(1,383,510)	(1,367,096)	(1,330,723)
Net of reinsurance ceded	587,163	603,982	544,064	537,789	510,873	523,171	518,698	536,524	2,272,998	2,089,266	2,058,696
Net investment income	639,115	631,955	578,414	489,418	495,614	477,011	475,722	474,709	2,338,902	1,923,056	1,823,463
Realized investment gains (losses):
Derivative financial instruments									79,097	(137,041)	49,790
All other investments									(223,276)	121,087	90,630
Other-than-temporary impairment losses									(56,578)	(1,332)	(32,075)
Portion recognized in other comprehensive income (before taxes)									26,854	(7,780)	14,327
Net impairment losses recognized in earnings	(26,060)	(14)	(5)	(3,645)	(853)	(273)	(2,785)	(5,201)	(29,724)	(9,112)	(17,748)
Other income	79,685	80,906	79,754	80,674	81,910	82,031	82,087	79,383	321,019	325,411	288,878
Total revenues	1,255,898	1,269,963	1,169,644	1,063,511	1,096,456	1,105,392	1,063,463	1,047,356	4,759,016	4,312,667	4,293,709
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (2018 - $1,185,929; 2017 - $1,235,227; 2016 - $1,176,609)									3,511,252	2,955,005	2,876,726
Amortization of deferred policy acquisition costs and value of business acquired									226,066	79,443	150,298
Other operating expenses, net of reinsurance ceded: (2018 - $210,816; 2017 - $226,578; 2016 - $210,270)									774,110	814,211	744,004
Total benefits and expenses	1,186,310	1,174,793	1,108,750	1,041,575	1,018,360	939,410	930,177	960,712	4,511,428	3,848,659	3,771,028
Income before income tax	69,588	95,170	60,894	21,936	78,096	165,982	133,286	86,644	247,588	464,008	522,681
Income tax (benefit) expense
Current									123,624	36,565	(38,663)
Deferred									(69,963)	(754,974)	208,736
Total income tax expense (benefit)	24,728	16,646	8,626	3,661	(839,384)	49,016	43,654	28,305	53,661	(718,409)	170,073
Net income	$ 44,860	$ 78,524	$ 52,268	$ 18,275	$ 917,480	$ 116,966	$ 89,632	$ 58,339	$ 193,927	$ 1,182,417	$ 352,608

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Benefits and settlement expenses, reinsurance ceded	$ 1,185,929	$ 1,235,227	$ 1,176,609
Other operating expenses, reinsurance ceded	$ 210,816	$ 226,578	$ 210,270

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 193,927	$ 1,182,417	$ 352,608
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax: (2018 - $(375,256); 2017 - $332,593; 2016 - $324,195)	(1,411,674)	705,859	602,074
Reclassification adjustment for investment amounts included in net income, net of income tax: (2018 - $4,174; 2017 - $(397); 2016 - $(5,085))	15,699	(944)	(9,442)
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: (2018 - $(5,517); 2017 - $762; 2016 - $(1,081))	(20,751)	391	(2,008)
Change in accumulated (loss) gain - derivatives, net of income tax: (2018 - $(501); 2017 - $(303); 2016 - $370)	(1,884)	(563)	688
Reclassification adjustment for derivative amounts included in net income, net of income tax: (2018 - $301; 2017 - $243; 2016 - $21)	1,130	451	39
Total other comprehensive income (loss)	(1,417,480)	705,194	591,351
Total comprehensive income (loss)	$ (1,223,553)	$ 1,887,611	$ 943,959

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Change in net unrealized gains (losses) on investments, income tax	$ (375,256)	$ 332,593	$ 324,195
Reclassification adjustment for investment amounts included in net income, income tax	4,174	(397)	(5,085)
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(5,517)	762	(1,081)
Change in accumulated (loss) gain - derivatives, income tax	(501)	(303)	370
Reclassification adjustment for derivative amounts included in net income, income tax	$ 301	$ 243	$ 21

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Fixed maturities, at fair value (amortized cost: 2018 - $54,233,151; 2017 - $40,952,535)	$ 51,679,226	$ 40,971,486
Fixed maturities, at amortized cost (fair value: 2018 - $2,547,210; 2017 - $2,776,327)	2,633,474	2,718,904
Equity securities, at fair value (cost: 2018 - $589,221; 2017 - $701,951)	557,708	715,498
Mortgage loans (related to securitizations: 2018 - $134; 2017 - $226,409)	7,724,733	6,817,723
Investment real estate, net of accumulated depreciation (2018 - $251; 2017 - $132)	6,816	8,355
Policy loans	1,695,886	1,615,615
Other long-term investments	798,342	940,047
Short-term investments	666,301	527,144
Total investments	65,762,486	54,314,772
Cash	151,400	178,855
Accrued investment income	633,087	489,979
Accounts and premiums receivable	97,033	152,086
Reinsurance receivables	4,486,029	4,800,891
Deferred policy acquisition costs and value of business acquired	3,026,330	2,205,401
Goodwill	825,511	793,470
Other intangibles, net of accumulated amortization (2018 - $197,368; 2017 - $140,232)	612,854	662,916
Property and equipment, net of accumulated depreciation (2018 - $30,989; 2017 - $21,305)	183,843	109,711
Other assets	377,845	337,395
Income tax receivable	0	76,986
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets	89,383,069	79,113,735
Liabilities
Future policy benefits and claims	41,900,618	30,956,792
Unearned premiums	769,620	751,130
Total policy liabilities and accruals	42,670,238	31,707,922
Stable value product account balances	5,234,731	4,698,371
Annuity account balances	13,720,081	10,921,190
Other policyholders’ funds	1,128,379	1,267,198
Other liabilities	1,939,718	1,859,254
Income tax payable	27,189	0
Deferred income taxes	898,339	1,371,989
Debt	1,319	1,682
Subordinated debt	110,000	0
Non-recourse funding obligations	2,888,329	2,952,822
Secured financing liabilities	495,307	1,017,749
Liabilities related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total liabilities	82,340,281	70,789,450
Commitments and contingencies - Note 15
Shareowner’s equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000	2	2
Common Stock, $1 par value, shares authorized and issued: 2018 and 2017 - 5,000,000	5,000	5,000
Additional paid-in-capital	7,410,537	7,378,496
Retained earnings	1,031,465	916,971
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2018 - $(367,217); 2017 - $6,860)	(1,381,436)	25,091
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(6,054); 2017 - $(537))	(22,773)	(2,022)
Accumulated gain (loss) - derivatives, net of income tax: (2018 - $(2); 2017 - $198)	(7)	747
Total shareowner’s equity	7,042,788	8,324,285
Total liabilities and shareowner’s equity	$ 89,383,069	$ 79,113,735

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 54,233,151	$ 40,952,535
Fixed maturities, fair value	2,547,210	2,776,327
Equity securities, cost	589,221	701,951
Mortgage loans, securitizations	134	226,409
Investment real estate, accumulated depreciation	251	132
Other intangibles, accumulated amortization	197,368	140,232
Property and equipment, accumulated depreciation	$ 30,989	$ 21,305
Preferred Stock, par value (in dollars per share)	$ 1	$ 1
Preferred Stock, shares authorized (in shares)	2,000	2,000
Preferred Stock, Liquidation preference	$ 2,000	$ 2,000
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, shares authorized (in shares)	5,000,000	5,000,000
Common Stock, shares issued (in shares)	5,000,000	5,000,000
Net unrealized gains (losses) on investments, income tax	$ (367,217)	$ 6,860
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(6,054)	(537)
Accumulated gain (loss) - derivatives, income tax	$ (2)	$ 198

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREOWNER'S EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2015	$ 5,187,477	$ 2	$ 5,000	$ 6,274,169	$ 154,697	$ (1,246,391)
Increase (decrease) in shareowner's equity
Net income	352,608				352,608
Other comprehensive income	591,351					591,351
Comprehensive income	943,959
Dividends paid to the parent company	(540,000)				(540,000)
Capital contributions	1,148,238			1,148,238
Balance at Dec. 31, 2016	6,739,674	2	5,000	7,422,407	(32,695)	(655,040)
Increase (decrease) in shareowner's equity
Net income	1,182,417				1,182,417
Other comprehensive income	705,194					705,194
Comprehensive income	1,887,611
Cumulative effect adjustments	0				26,338	(26,338)
Dividends paid to the parent company	(259,089)				(259,089)
Return of capital	(43,911)			(43,911)
Balance at Dec. 31, 2017	8,324,285	2	5,000	7,378,496	916,971	23,816
Increase (decrease) in shareowner's equity
Net income	193,927				193,927
Other comprehensive income	(1,417,480)					(1,417,480)
Comprehensive income	(1,223,553)
Cumulative effect adjustments						(10,552)
Prior period adjustment	32,041			32,041
Balance at Dec. 31, 2018	$ 7,042,788	$ 2	$ 5,000	$ 7,410,537	$ 1,031,465	$ (1,404,216)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income	$ 193,927	$ 1,182,417	$ 352,608
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)	173,903	25,066	(122,672)
Amortization of deferred policy acquisition costs and value of business acquired	226,066	79,443	150,298
Capitalization of deferred policy acquisition costs	(446,594)	(335,603)	(330,302)
Depreciation and amortization expense	67,125	61,740	36,942
Deferred income tax	(69,963)	(754,974)	208,736
Accrued income tax	104,175	19,377	(168,786)
Interest credited to universal life and investment products	882,904	692,993	699,227
Policy fees assessed on universal life and investment products	(1,558,868)	(1,354,685)	(1,262,166)
Change in reinsurance receivables	315,134	269,294	246,768
Change in accrued investment income and other receivables	50,112	(19,148)	(58,493)
Change in policy liabilities and other policyholders’ funds of traditional life and health products	(495,846)	(331,880)	(222,438)
Trading securities:
Maturities and principal reductions of investments	155,692	165,575	154,633
Sale of investments	493,141	281,441	459,802
Cost of investments acquired	(589,379)	(355,410)	(532,429)
Other net change in trading securities	38,346	9,151	22,427
Amortization of premiums and accretion of discounts on investments and mortgage loans	308,407	319,264	374,726
Change in other liabilities	103,465	265,595	182,973
Other, net	(15,656)	(45,961)	(18,093)
Net cash (used in) provided by operating activities	(63,909)	173,695	173,761
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale	1,189,366	695,349	1,299,324
Sale of investments, available-for-sale	2,573,826	1,801,173	1,952,696
Cost of investments acquired, available-for-sale	(4,865,104)	(4,013,245)	(4,858,159)
Change in investments, held-to-maturity	81,000	47,000	(2,181,000)
Mortgage loans:
New lendings	(1,589,459)	(1,671,929)	(1,396,283)
Repayments	1,068,552	923,347	863,873
Change in investment real estate, net	978	(104)	2,851
Change in policy loans, net	51,218	34,625	49,268
Change in other long-term investments, net	(169,293)	(91,934)	(251,987)
Change in short-term investments, net	(164,384)	(207,722)	(61,094)
Net unsettled security transactions	13,384	(19,023)	28,853
Purchase of property and equipment	(91,972)	(33,718)	(2,863)
Cash received from or paid for acquisitions, net of cash acquired	38,456	0	320,967
Net cash used in investing activities	(1,863,432)	(2,536,181)	(4,233,554)
Cash flows from financing activities
Borrowings under subordinated debt	110,000	0	0
Issuance (repayment) of non-recourse funding obligations	(63,890)	(16,070)	2,169,700
Secured financing liabilities	(522,442)
Secured financing liabilities		220,028	359,536
Dividends/Return of capital to the parent company	0	(303,000)	(540,000)
Investment product and universal life deposits	5,689,944	4,683,121	4,393,596
Investment product and universal life withdrawals	(3,313,338)	(2,256,981)	(2,320,958)
Other financing activities, net	(388)	(196)	0
Net cash provided by financing activities	1,899,886	2,326,902	4,061,874
Change in cash	(27,455)	(35,584)	2,081
Cash at beginning of period	178,855	214,439	212,358
Cash at end of period	$ 151,400	$ 178,855	$ 214,439

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2018
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. 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 (now known as Dai-ichi Life Holdings, Inc., “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, PLC and the Company remain as SEC registrants 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. PLC is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. 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 22, 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. During the fourth quarter of 2018, the Company recorded an adjustment related to prior periods to correct an error pertaining to the tax deductibility of certain deferred compensation following the Dai-ichi acquisition and application of purchase accounting in 2015. The adjustment resulted in a $32.0 million increase to goodwill, with a corresponding increase in additional paid-in-capital. The Company concluded that the adjustment was not quantitatively or qualitatively material to previously reported annual or interim periods or the current interim period. As a result, this adjustment was recorded by the Company within the presented annual consolidated financial statements for the year ended December 31, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
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 on a first in first out basis. 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 at certain reporting dates. Such negative balances are included in other liabilities and were $153.3 million as of December 31, 2018 and $132.7 million as of December 31, 2017 , 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 7.1% ) 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 and the acquisition of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flows and earnings of associated insurance policies and investment contracts. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from associated insurance policies and investment contracts acquired. 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, account values, 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, technology, and software. 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. Software is generally amortized over a three year useful life. Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,351 35,258 Total intangible assets subject to amortization 580,854 630,916 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 612,854 $ 662,916 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) 2019 $ 55,220 2020 52,219 2021 49,614 2022 46,356 2023 45,056 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 computers are depreciated over a four year useful life. Major repairs or improvements ar e 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: As of December 31, 2018 2017 (Dollars In Thousands) Home office building $ 144,669 $ 68,123 Data processing equipment 28,793 24,102 Other, principally furniture and equipment 16,450 13,871 Total property and equipment subject to depreciation 189,912 106,096 Accumulated depreciation (30,989 ) (21,305 ) Land 24,920 24,920 Total property and equipment $ 183,843 $ 109,711 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 qualified 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. The Company records its stable value contract liabilities in the consolidated balance sheets in “Stable value product account balances” at the deposit amount plus accrued interest, adjusted for any unamortized premium or discount. Interest on the contracts is accrued based upon contract terms. Any premium or discount is amortized using the effective yield method. 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, 2018 and 2017 , the Company had $4,083.8 million and $3,337.9 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 twelve years . As of December 31, 2018 , future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2019 $ 1,253.9 2020 - 2021 3,042.5 2022 - 2023 818.7 Thereafter 118.7 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 statement of 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 7, 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 Living Withdrawal Benefits The Company also establishes reserves for guaranteed living withdrawal benefits (“GLWB”) on its variable annuity (“VA”) products. The GLWB 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 interest rates and implied volatilities for the equity indices. The fair value of the GLWB is impacted by equity market conditions and can result in the GLWB 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 GLWB 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 GLWB embedded derivative liability. The methods used to estimate the embedded derivative employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the Ruark 2015 ALB table adjusted for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. The Company reinsures certain risks associated with the GLWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC. As of December 31, 2018 , the Company’s net GLWB liability held, including the impact of reinsurance, was $43.3 million . Goodwill 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. Accounting for goodwill requires an estimate of the future profitability of the associated lines of business within the Company’s operating segments to assess the recoverability of the capitalized goodwill. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). 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 the qualitative analysis does not indicate that an impairment of segment goodwill is more likely than not then no other specific quantitative impairment testing is required. If it is determined that it is more likely than not that impairment exists, the Company performs a quantitative assessment and 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 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 The Company's income tax returns, except for MONY which files separately, are included in PLC's consolidated U.S. income tax return. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "Tax Reform Act"). Further information on the tax impacts of the Tax Reform Act is included in Note 19, Income Taxes . The Company uses the asset and liability method of accounting for income taxes. Generally, most items in pretax book income are also included in taxable income in the same year. However, some items are recognized for book purposes and for tax purposes in different years or are never recognized for either book or tax purposes. Those differences that will never be recognized for either book or tax purposes are permanent differences (e.g., the dividends-received deduction). As a result, the effective tax rate reflected in the financial statements may differ from the statutory rate reflected in the tax return. Those differences that are reported in different years for book and tax purposes are temporary and will reverse over time (e.g., the valuation of future policy benefits). These temporary differences are accounted for in the intervening periods as deferred tax assets and liabilities. Deferred tax assets generally represent revenue that is taxable before it is recognized in financial income and expenses that are deductible after they are recognized in financial income. Deferred tax liabilities generally represent revenues that are taxable after they are recognized in financial income or expenses or losses that are deductible before they are recognized in financial income. Components of accumulated other comprehensive income (loss) ("AOCI") are presented net of tax, and it is the Company's policy to use the aggregate portfolio approach to clear the disproportionate tax effects that remain in AOCI as a result of tax rate changes and certain other events. Under the aggregate portfolio approach, disproportionate tax effects are cleared only when the portfolio of investments that gave rise to the deferred tax item is sold or otherwise disposed of in its entirety. The application of GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance, if necessary, to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance the Company may consider many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process, the first step being recognition. The Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes the liability for unrecognized tax benefits which relate to tax years still subject to review by the Internal Revenue Service (“IRS”) or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations expires. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards, the statute of limitations does not close until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense. See Note 19, Income Taxes, for additional information regarding income taxes. 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 5, Investment Operations, to the consolidated financial statements. Policyholder Liabilities, Revenues, and Benefits Expense Future Policy Benefits and Claims Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,573,500 $ 3,885,546 Unpaid life claim liabilities 654,077 595,188 383,620 362,833 Life and annuity future policy benefits 41,537,306 30,568,126 3,957,120 4,248,379 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 220,457 231,565 175,591 185,366 Future policy benefits and claims and associated reinsurance receivable $ 41,900,618 $ 30,956,792 $ 4,213,399 $ 4,526,075 Unearned premiums 769,620 751,130 272,630 274,816 Total policy liabilities and accruals and associated reinsurance receivable $ 42,670,238 $ 31,707,922 $ 4,486,029 $ 4,800,891 Liabilities for life and annuity benefit reserves consist of liabilities for traditional life insurance, cash values associated with universal life insurance, immediate annuity benefit reserves, and other benefits associated with life and annuity benefits. The unpaid life claim liabilities consist of current pending claims as well as an estimate of incurred but not reported life insurance claims. Other policy benefit reserves consist of certain health insurance policies that are in runoff. The unpaid claim liabilities associate

SIGNIFICANT TRANSACTIONS

SIGNIFICANT TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
Insurance [Abstract]
SIGNIFICANT TRANSACTIONS	SIGNIFICANT TRANSACTIONS On May 1, 2018, The Lincoln National Life Insurance Company (“Lincoln Life”) completed the acquisition (the “Closing”) of Liberty Mutual Group Inc.’s (“Liberty Mutual”) Group Benefits Business and Individual Life and Annuity Business (the “Life Business”) through the acquisition of all of the issued and outstanding capital stock of Liberty Life Assurance Company of Boston (“Liberty”). In connection with the Closing and pursuant to the Master Transaction Agreement, dated January 18, 2018 (the “Master Transaction Agreement”), previously reported in PLC’s Current Report on Form 8-K filed on January 23, 2018, the Company and Protective Life and Annuity Insurance Company (“PLAIC”), a wholly owned subsidiary, entered into reinsurance agreements (the “Reinsurance Agreements”) and related ancillary documents (including administrative services agreements and transition services agreements) providing for the reinsurance and administration of the Life Business. Pursuant to the Reinsurance Agreements, Liberty ceded to the Company and PLAIC the insurance policies related to the Life Business on a 100% coinsurance basis. The aggregate ceding commission for the reinsurance of the Life Business was $422.4 million , which is the purchase price. Other than cash received as part of the acquired Liberty investment portfolio as reflected in “amounts received from reinsurance transaction” in the Consolidated Condensed Statement of Cash Flows and as reflected in the table below, this was a non-cash transaction. All policies issued in states other than New York were ceded to the Company under a reinsurance agreement between Liberty and the Company, and all policies issued in New York were ceded to PLAIC under a reinsurance agreement between Liberty and PLAIC. The aggregate statutory reserves of Liberty ceded to the Company and PLAIC as of the closing of the Transaction were approximately $13.2 billion , which amount was based on initial estimates and is subject to adjustment following the Closing. Pursuant to the terms of the Reinsurance Agreements, each of the Company and PLAIC are required to maintain assets in trust for the benefit of Liberty to secure their respective obligations to Liberty under the Reinsurance Agreements. The trust accounts were initially funded by each of the Company and PLAIC principally with the investment assets that were received from Liberty. Additionally, the Company and PLAIC have each agreed to provide, on behalf of Liberty, administration and policyholder servicing of the Life Business reinsured by it pursuant to administrative services agreements between Liberty and each of the Company and PLAIC. The terms of the Reinsurance Agreements resulted in an acquisition of the Life Business by the Company in accordance with ASC Topic 805, Business Combinations . The following table details the purchase consideration and preliminary allocation of assets acquired and liabilities assumed from the Life Business reinsurance transaction as of the transaction date. These estimates remain preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition. Fair Value As of May 1, 2018 (Dollars in Thousands) Assets Fixed maturities $ 12,588,512 Mortgage loans 435,405 Policy loans 131,489 Total investments 13,155,406 Cash 38,456 Accrued investment income 152,030 Reinsurance receivables 272 Value of business acquired 336,862 Other assets 916 Total assets 13,683,942 Liabilities Future policy benefits and claims $ 11,747,501 Unearned premiums — Total policy liabilities and accruals 11,747,501 Annuity account balances 1,823,444 Other policyholders’ funds 41,936 Other liabilities 71,061 Total liabilities 13,683,942 Net assets acquired $ — The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Life Business were completed as of January 1, 2017. The unaudited pro forma condensed results of operations are presented solely for information purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated: Unaudited For The Year Ended December 31, 2018 For The Year Ended December 31, 2017 (Dollars In Thousands) Revenue $ 5,082,755 $ 5,548,132 Net income $ 240,071 $ 1,309,876 The amount of revenue and income before income tax of the Life Business since the transaction date, May 1, 2018, included in the consolidated statements of income for the year ended December 31, 2018, amounted to $578.0 million and $49.8 million . Also, included in the income before income tax for the year ended December 31, 2018, is approximately $5.5 million of non-recurring transaction costs.

MONY CLOSED BLOCK OF BUSINESS

MONY CLOSED BLOCK OF BUSINESS	12 Months Ended
	Dec. 31, 2018
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 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 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, 2018 and December 31, 2017 and is as follows: As of December 31, 2018 2017 (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders’ account balances and other policyholder liabilities $ 5,679,732 $ 5,791,867 Policyholder dividend obligation — 160,712 Other liabilities 22,505 30,764 Total closed block liabilities 5,702,237 5,983,343 Closed block assets Fixed maturities, available-for-sale, at fair value 4,257,437 4,669,856 Mortgage loans on real estate 75,838 108,934 Policy loans 672,213 700,769 Cash and other invested assets 116,225 31,182 Other assets 136,388 122,637 Total closed block assets 5,258,101 5,633,378 Excess of reported closed block liabilities over closed block assets 444,136 349,965 Portion of above representing accumulated other comprehensive income: Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820 (120,528 ) — Future earnings to be recognized from closed block assets and closed block liabilities $ 323,608 $ 349,965 Reconciliation of the policyholder dividend obligation is as follows: For The Year Ended December 31, 2018 2017 (Dollars In Thousands) Policyholder dividend obligation, beginning balance $ 160,712 $ 31,932 Applicable to net revenue (losses) (33,014 ) (55,241 ) Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation (127,698 ) 184,021 Policyholder dividend obligation, ending balance $ — $ 160,712 Closed Block revenues and expenses were as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Premiums and other income $ 171,117 $ 180,097 $ 189,700 Net investment income 202,282 203,964 211,175 Net investment gains (1,970 ) 910 1,524 Total revenues 371,429 384,971 402,399 Benefits and other deductions Benefits and settlement expenses 337,352 335,200 353,488 Other operating expenses 714 1,940 2,804 Total benefits and other deductions 338,066 337,140 356,292 Net revenues before income taxes 33,363 47,831 46,107 Income tax expense 7,006 27,718 16,137 Net revenues $ 26,357 $ 20,113 $ 29,970

INVESTMENT OPERATIONS

INVESTMENT OPERATIONS	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENT OPERATIONS	INVESTMENT OPERATIONS Major categories of net investment income are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 2,043,183 $ 1,610,768 $ 1,547,346 Equity securities 35,282 40,506 38,838 Mortgage loans 322,206 298,387 270,749 Investment real estate 1,778 2,405 2,152 Short-term investments 103,676 114,280 99,979 2,506,125 2,066,346 1,959,064 Other investment expenses 167,223 143,290 135,601 Net investment income $ 2,338,902 $ 1,923,056 $ 1,823,463 Net realized investment gains (losses) for all other investments are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 9,851 $ 12,783 $ 32,183 Equity gains and losses (1) (49,275 ) (2,330 ) 92 Impairments (29,724 ) (9,112 ) (17,748 ) Modco trading portfolio (185,900 ) 119,206 67,583 Other investments 2,048 (8,572 ) (9,228 ) Total realized gains (losses) - investments $ (253,000 ) $ 111,975 $ 72,882 (1) Beginning January 1, 2018, all changes in the fair market value of equity securities are recorded as a realized gain (loss) as a result of the adoption of ASU No. 2016-01. Gross realized gains and gross realized losses on investments available-for-sale (fixed maturities and short-term investments) are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Gross realized gains $ 28,034 $ 18,868 $ 42,058 Gross realized losses Impairments losses $ (29,724 ) $ (9,112 ) $ (17,748 ) Other realized losses $ (18,183 ) $ (8,257 ) $ (9,783 ) The chart below summarizes the fair value (proceeds) and the gains/losses realized on securities the Company sold that were in an unrealized gain position and an unrealized loss position. For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Securities in an unrealized gain position: Fair value (proceeds) $ 1,291,826 $ 879,181 $ 1,194,808 Gains realized $ 28,034 $ 18,868 $ 42,058 Securities in an unrealized loss position (1) : Fair value (proceeds) $ 472,371 $ 185,157 $ 85,835 Losses realized $ (18,183 ) $ (8,257 ) $ (9,783 ) (1) The Company made the decision to exit these holdings in conjunction with its overall asset liability management process. The chart below summarizes the realized gains (losses) on equity securities sold during the period and equity securities still held at the reporting date. For The Year Ended December 31, 2018 (Dollars In Thousands) Net gains (losses) recognized during the period on equity securities $ (49,275 ) Less: net gains (losses) recognized on equity securities sold during the period $ (6,165 ) Gains (losses) recognized during the period on equity securities still held $ (43,110 ) The amortized cost and fair value of the Company’s investments classified as available-for-sale are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) As of December 31, 2018 Fixed maturities: Residential mortgage-backed securities $ 3,641,678 $ 23,248 $ (61,935 ) $ 3,602,991 $ (18 ) Commercial mortgage-backed securities 2,319,476 3,911 (57,000 ) 2,266,387 — Other asset-backed securities 1,410,059 17,232 (35,398 ) 1,391,893 — U.S. government-related securities 1,658,433 1,794 (45,722 ) 1,614,505 — Other government-related securities 543,534 4,292 (33,790 ) 514,036 — States, municipals, and political subdivisions 3,682,037 25,706 (118,902 ) 3,588,841 876 Corporate securities 38,467,380 112,438 (2,378,240 ) 36,201,578 (29,685 ) Redeemable preferred stock 94,362 — (11,560 ) 82,802 — 51,816,959 188,621 (2,742,547 ) 49,263,033 (28,827 ) Short-term investments 635,375 — — 635,375 — $ 52,452,334 $ 188,621 $ (2,742,547 ) $ 49,898,408 $ (28,827 ) As of December 31, 2017 Fixed maturities: Residential mortgage-backed securities $ 2,321,811 $ 19,412 $ (22,730 ) $ 2,318,493 $ 41 Commercial mortgage-backed securities 1,885,109 4,931 (29,552 ) 1,860,488 — Other asset-backed securities 1,234,376 20,936 (5,763 ) 1,249,549 — U.S. government-related securities 1,255,244 185 (32,177 ) 1,223,252 — Other government-related securities 280,780 9,401 (4,948 ) 285,233 — States, municipals, and political subdivisions 1,770,299 16,959 (45,613 ) 1,741,645 (37 ) Corporate securities 29,446,365 618,582 (527,401 ) 29,537,546 (2,563 ) Redeemable preferred stock 94,362 232 (3,503 ) 91,091 — 38,288,346 690,638 (671,687 ) 38,307,297 (2,559 ) Equity securities 696,706 22,319 (8,771 ) 710,254 — Short-term investments 470,883 — — 470,883 — $ 39,455,935 $ 712,957 $ (680,458 ) $ 39,488,434 $ (2,559 ) (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above. The Company holds certain investments pursuant to certain modified coinsurance (“Modco”) arrangements. The fixed maturities held as part of these arrangements are classified as trading securities. The fair value of the investments held pursuant to these Modco arrangements are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 241,836 $ 259,694 Commercial mortgage-backed securities 188,925 146,804 Other asset-backed securities 159,907 138,097 U.S. government-related securities 59,794 27,234 Other government-related securities 44,207 63,925 States, municipals, and political subdivisions 286,413 326,925 Corporate securities 1,423,833 1,698,183 Redeemable preferred stock 11,277 3,327 2,416,192 2,664,189 Equity securities 9,892 5,244 Short-term investments 30,926 56,261 $ 2,457,010 $ 2,725,694 The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2018 , 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) Due in one year or less $ 1,121,731 $ 1,117,140 $ — $ — Due after one year through five years 9,255,369 9,102,884 — — Due after five years through ten years 9,037,543 8,790,872 — — Due after ten years 32,402,316 30,252,137 2,633,474 2,547,210 $ 51,816,959 $ 49,263,033 $ 2,633,474 $ 2,547,210 The chart below summarizes the Company’s other-than-temporary impairments of investments. All of the impairments were related to fixed maturities or equity securities. Fixed Maturities Equity Securities Total Securities (Dollars In Thousands) For The Year Ended December 31, 2018 Other-than-temporary impairments $ (56,578 ) $ — $ (56,578 ) Non-credit impairment losses recorded in other comprehensive income 26,854 — 26,854 Net impairment losses recognized in earnings $ (29,724 ) $ — $ (29,724 ) For The Year Ended December 31, 2017 Other-than-temporary impairments $ (1,332 ) $ — $ (1,332 ) Non-credit impairment losses recorded in other comprehensive income (7,780 ) — (7,780 ) Net impairment losses recognized in earnings $ (9,112 ) $ — $ (9,112 ) For The Year Ended December 31, 2016 Other-than-temporary impairments $ (32,075 ) $ — $ (32,075 ) Non-credit impairment losses recorded in other comprehensive income 14,327 — 14,327 Net impairment losses recognized in earnings $ (17,748 ) $ — $ (17,748 ) 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 years ended December 31, 2018 , 2017, and 2016. 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): For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 3,268 $ 12,685 $ 22,761 Additions for newly impaired securities 24,858 734 14,876 Additions for previously impaired securities 12 3,175 2,063 Reductions for previously impaired securities due to a change in expected cash flows — (12,726 ) (24,396 ) Reductions for previously impaired securities that were sold in the current period (3,270 ) (600 ) (2,619 ) Ending balance $ 24,868 $ 3,268 $ 12,685 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, 2018 : 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 $ 1,485,009 $ (31,302 ) $ 795,765 $ (30,633 ) $ 2,280,774 $ (61,935 ) Commercial mortgage-backed securities 419,420 (7,398 ) 1,405,690 (49,602 ) 1,825,110 (57,000 ) Other asset-backed securities 687,271 (30,963 ) 148,871 (4,435 ) 836,142 (35,398 ) U.S. government-related securities 130,290 (4,668 ) 1,085,654 (41,054 ) 1,215,944 (45,722 ) Other government-related securities 224,273 (15,207 ) 131,569 (18,583 ) 355,842 (33,790 ) States, municipalities, and political subdivisions 1,004,262 (27,180 ) 1,129,152 (91,722 ) 2,133,414 (118,902 ) Corporate securities 18,225,656 (966,825 ) 12,824,024 (1,411,415 ) 31,049,680 (2,378,240 ) Redeemable preferred stock 41,147 (4,467 ) 41,655 (7,093 ) 82,802 (11,560 ) $ 22,217,328 $ (1,088,010 ) $ 17,562,380 $ (1,654,537 ) $ 39,779,708 $ (2,742,547 ) RMBS and CMBS had gross unrealized losses greater than twelve months of $30.6 million and $49.6 million , respectively, as of December 31, 2018 . 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 have a gross unrealized loss greater than twelve months of $4.4 million as of December 31, 2018 . 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”). 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 securities and the other government-related securities had gross unrealized losses greater than twelve months of $41.1 million and $18.6 million as of December 31, 2018, respectively. These declines were related to changes in interest rates. The states, municipalities, and political subdivisions categories had gross unrealized losses greater than twelve months of $91.7 million as of December 31, 2018 . The aggregate decline in market value of these securities was deemed temporary due to positive factors 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 corporate securities category has gross unrealized losses greater than twelve months of $1.4 billion as of December 31, 2018 . The aggregate decline in market value of these securities was deemed temporary due to positive factors 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. As of December 31, 2018 , the Company had a total of 4,005 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, 2017 : 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 $ 765,641 $ (9,666 ) $ 408,460 $ (13,064 ) $ 1,174,101 $ (22,730 ) Commercial mortgage-backed securities 750,643 (8,521 ) 779,086 (21,031 ) 1,529,729 (29,552 ) Other asset-backed securities 86,506 (322 ) 134,316 (5,441 ) 220,822 (5,763 ) U.S. government-related securities 94,110 (688 ) 1,072,232 (31,489 ) 1,166,342 (32,177 ) Other government-related securities 24,830 (169 ) 115,294 (4,779 ) 140,124 (4,948 ) States, municipalities, and political subdivisions 170,268 (1,738 ) 1,027,747 (43,875 ) 1,198,015 (45,613 ) Corporate securities 5,026,417 (55,649 ) 10,947,027 (471,752 ) 15,973,444 (527,401 ) Redeemable preferred stock 22,048 (1,120 ) 23,197 (2,383 ) 45,245 (3,503 ) Equities 86,194 (1,400 ) 91,195 (7,371 ) 177,389 (8,771 ) $ 7,026,657 $ (79,273 ) $ 14,598,554 $ (601,185 ) $ 21,625,211 $ (680,458 ) RMBS and CMBS had gross unrealized losses greater than twelve months of $13.1 million and $21.0 million , respectively, as of December 31, 2017. 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 have a gross unrealized loss greater than twelve months of $5.4 million as of December 31, 2017. This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the FFELP. 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 securities and the other government-related securities had gross unrealized losses greater than twelve months $31.5 million and $4.8 million as of December 31, 2017, respectively. These declines were related to changes in interest rates. The states, municipalities, and political subdivisions categories had gross unrealized losses greater than twelve months of $43.9 million as of December 31, 2017. These declines were related to changes in interest rates. The corporate securities category has gross unrealized losses greater than twelve months of $471.8 million as of December 31, 2017. The aggregate decline in market value of these securities was deemed temporary due to positive factors 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. As of December 31, 2018 , the Company had securities in its available-for-sale portfolio which were rated below investment grade with a fair value of $1.6 billion and had an amortized cost of $1.8 billion . In addition, included in the Company’s trading portfolio, the Company held $144.3 million of securities which were rated below investment grade. Approximately $262.8 million of the below investment grade securities held by the Company 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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ (2,032,573 ) $ 1,083,865 $ 802,248 The amortized cost and fair value of the Company’s investments classified as held-to-maturity as of December 31, 2018 and 2017 , are as follows: Amortized Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Total OTTI Recognized in OCI As of December 31, 2018 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 750,474 $ — $ (81,657 ) $ 668,817 $ — Steel City LLC 1,883,000 — (4,607 ) 1,878,393 — $ 2,633,474 $ — $ (86,264 ) $ 2,547,210 $ — Amortized Gross Gross Fair Value Total OTTI Recognized in OCI As of December 31, 2017 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 704,904 $ — $ (19,163 ) $ 685,741 $ — Steel City LLC 2,014,000 76,586 — 2,090,586 — $ 2,718,904 $ 76,586 $ (19,163 ) $ 2,776,327 $ — During the years ended December 31, 2018, 2017, and 2016, the Company did no t record any other-than-temporary impairments on held-to-maturity securities. The Company’s held-to-maturity securities had $86.3 million of gross unrecognized holding losses by maturity as of December 31, 2018. 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 of the guarantor, financial health of the issuer and guarantor, continued access of the issuer to capital markets and other pertinent information. These held-to-maturity securities are issued by affiliates of the Company which are considered VIE’s. The Company is not the primary beneficiary of these entities and thus the securities are not eliminated in consolidation. These securities are collateralized by non-recourse funding obligations issued by captive insurance companies that are affiliates of the Company. The Company’s held-to-maturity securities had $76.6 million of gross unrecognized holding gains and $19.2 million of gross unrecognized holding losses by maturity as of December 31, 2017. 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 of the guarantor, financial health of the issuer and guarantor, continued access of the issuer to capital markets and other pertinent information. The Company held $140.5 million of non-income producing securities for the year ended December 31, 2018 . Included in the Company’s invested assets are $1.7 billion of policy loans as of December 31, 2018 . 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, 2018 and 2017 . 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 14, Debt and Other Obligations . The Company has the power, via its 100% ownership, 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 Red Mountain’s payment obligation for the credit enhancement fee to the unrelated third party provider. As of December 31, 2018 , no payments have been made or required related to this guarantee.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2018
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 estimates 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, 2018 : Measurement Category Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities 4 $ — $ 3,602,991 $ — $ 3,602,991 Commercial mortgage-backed securities 4 — 2,266,387 — 2,266,387 Other asset-backed securities 4 — 970,251 421,642 1,391,893 U.S. government-related securities 4 985,485 629,020 — 1,614,505 State, municipalities, and political subdivisions 4 — 3,588,841 — 3,588,841 Other government-related securities 4 — 514,036 — 514,036 Corporate securities 4 — 35,563,302 638,276 36,201,578 Redeemable preferred stock 4 65,536 17,266 — 82,802 Total fixed maturity securities - available-for-sale 1,051,021 47,152,094 1,059,918 49,263,033 Fixed maturity securities - trading Residential mortgage-backed securities 3 — 241,836 — 241,836 Commercial mortgage-backed securities 3 — 188,925 — 188,925 Other asset-backed securities 3 — 133,851 26,056 159,907 U.S. government-related securities 3 27,453 32,341 — 59,794 State, municipalities, and political subdivisions 3 — 286,413 — 286,413 Other government-related securities 3 — 44,207 — 44,207 Corporate securities 3 — 1,417,591 6,242 1,423,833 Redeemable preferred stock 3 11,277 — — 11,277 Total fixed maturity securities - trading 38,730 2,345,164 32,298 2,416,192 Total fixed maturity securities 1,089,751 49,497,258 1,092,216 51,679,225 Equity securities 3 494,287 — 63,421 557,708 Other long-term investments (1) 3&4 83,047 180,438 151,342 414,827 Short-term investments 3 589,084 77,217 — 666,301 Total investments 2,256,169 49,754,913 1,306,979 53,318,061 Cash 3 151,400 — — 151,400 Assets related to separate accounts 3 Variable annuity 12,288,919 — — 12,288,919 Variable universal life 3 937,732 — — 937,732 Total assets measured at fair value on a recurring basis 3 $ 15,634,220 $ 49,754,913 $ 1,306,979 $ 66,696,112 Liabilities: Annuity account balances (2) 3 $ — $ — $ 76,119 $ 76,119 Other liabilities (1) 3&4 56,018 164,643 438,127 658,788 Total liabilities measured at fair value on a recurring basis $ 56,018 $ 164,643 $ 514,246 $ 734,907 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. (3) Fair Value through Net Income. (4) Fair Value through Other Comprehensive Income. 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, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 2,318,493 $ — $ 2,318,493 Commercial mortgage-backed securities — 1,860,488 — 1,860,488 Other asset-backed securities — 745,184 504,365 1,249,549 U.S. government-related securities 958,775 264,477 — 1,223,252 State, municipalities, and political subdivisions — 1,741,645 — 1,741,645 Other government-related securities 285,233 — 285,233 Corporate securities — 28,910,645 626,901 29,537,546 Redeemable preferred stock 72,471 18,620 — 91,091 Total fixed maturity securities - available-for-sale 1,031,246 36,144,785 1,131,266 38,307,297 Fixed maturity securities - trading Residential mortgage-backed securities — 259,694 — 259,694 Commercial mortgage-backed securities — 146,804 — 146,804 Other asset-backed securities — 102,875 35,222 138,097 U.S. government-related securities 21,183 6,051 — 27,234 State, municipalities, and political subdivisions — 326,925 — 326,925 Other government-related securities — 63,925 — 63,925 Corporate securities — 1,692,741 5,442 1,698,183 Redeemable preferred stock 3,327 — — 3,327 Total fixed maturity securities - trading 24,510 2,599,015 40,664 2,664,189 Total fixed maturity securities 1,055,756 38,743,800 1,171,930 40,971,486 Equity securities 649,981 — 65,517 715,498 Other long-term investments (1) 51,102 417,969 160,466 629,537 Short-term investments 394,394 132,750 — 527,144 Total investments 2,151,233 39,294,519 1,397,913 42,843,665 Cash 178,855 — — 178,855 Assets related to separate accounts Variable annuity 13,956,071 — — 13,956,071 Variable universal life 1,035,202 — — 1,035,202 Total assets measured at fair value on a recurring basis $ 17,321,361 $ 39,294,519 $ 1,397,913 $ 58,013,793 Liabilities: Annuity account balances (2) $ — $ — $ 83,472 $ 83,472 Other liabilities (1) 5,755 302,656 597,562 905,973 Total liabilities measured at fair value on a recurring basis $ 5,755 $ 302,656 $ 681,034 $ 989,445 (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 93.6% 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 year ended December 31, 2018 . 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, 2018 , the Company held $7.4 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, 2018 , the Company held $447.7 million of Level 3 ABS, which included $421.6 million of other asset-backed securities classified as available-for-sale and $26.1 million of other asset-backed securities classified as trading. These securities within the available-for-sale portfolio 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. In periods where market activity increases and there are transactions at a price that is not the result of a distressed or forced sale we consider those prices as part of our valuation. If the market activity during a period is solely the result of the issuer redeeming positions we consider those transactions in our valuation, but still consider them to be level three measurements due to the nature of the transaction. Corporate Securities, Redeemable Preferred Stock, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities As of December 31, 2018 , the Company classified approximately $42.1 billion of corporate securities, redeemable preferred stock, 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, 2018 , the Company classified approximately $644.5 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, 2018 , the Company held approximately $63.4 million of equity securities classified as Level 2 and Level 3. Of this total, $63.4 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 7, 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, 2018 , 84.5% of derivatives based upon notional values were priced using exchange prices or independent broker quotations. 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 swaps, options, and swaptions, which are traded over-the-counter. Level 2 also includes certain centrally cleared derivatives. 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 7, Derivative Financial Instruments for more information related to each embedded derivatives gains and losses. The fair value of the GLWB 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 Ruark 2015 ALB table with attained age factors varying from 87.0% - 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 GLWB embedded derivative is categorized as Level 3. Policyholder assumptions are reviewed on an annual 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 2015 Ruark ALB mortality table modified with company experience, with attained age factors varying from 87% - 100% . 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 assum ptions 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-ba sed mortality from the SOA 2015 VBT Primary Tables modified with company experience, with attained age factors varying from 37% - 577% . 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) thereafte r. 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, 2018 , the fair value of the embedded derivative is based upon the relationship between the statutory policy liabilities (net of policy loans) of $2.3 billion and the statutory unrealized gain (loss) of the securities of $25.8 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. The Company and certain of its subsidiaries have entered into interest support, 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, 2018 , was $90.0 million and is included in Other long-term investments . For information regarding realized gains on these derivatives please refer to Note 7, 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 $37.6 million as of December 31, 2018 however interest support agreement obligations to Golden Gate II of approximately $4.9 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. For the year ended December 31, 2018 , Golden Gate II recognized $0.6 million in gains related to payments made under this agreement. The YRT Premium support agreements provide that PLC will make payments to Golden Gate and Golden Gate II in the event that YRT premium rates increase. The derivatives are 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 these derivatives as of December 31, 2018 , was $50.0 million . As of December 31, 2018 , no payments have been triggered under this agr eement. The portfolio maintenance agreements provide that PLC will make payments to Golden Gate, 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, 2018 , was $2.5 million . As of December 31, 2018 , 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, 2018 , was a liability of $95.1 million . Annuity Account Balances The Company records a certain legacy block of FIA reserves at fair value. Based on the characteristics of these reserves, the Company believes that the fund value approximates fair value. The fair value measurement of these reserves is considered a Level 3 valuation due to the unobservable nature of the fund values. The Level 3 fair value as of December 31, 2018 is $76.1 million . 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: Fair Value As of December 31, 2018 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 421,458 Liquidation Liquidation value $85.75 - $99.99 ($95.36) Discounted cash flow Liquidity premium 0.02% - 1.25% (0.64%) Paydown Rate 10.96% - 13.11% (12.03%) Corporate securities 631,068 Discounted cash flow Spread over treasury 0.84% - 3.00% (1.84%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 43,307 Actuarial cash flow model Mortality 87% to 100% of Lapse Ruark Predictive Model Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.16% Embedded derivative—FIA 217,288 Actuarial cash flow model Expenses $145 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 87% to 100% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.21% - 1.16% Embedded derivative—IUL 90,231 Actuarial cash flow model Mortality 37% - 577% of 2015 Lapse 0.5% - 10%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.16% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability. 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, 2018 , but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $39.7 million of financial instruments being classified as Level 3 as of December 31, 2018 . Of the $39.7 million , $26.2 million are other asset-backed securities, and $13.5 million are corporate securities. In certain cases the Company has determined that book value materially approximates fair value. As of December 31, 2018 , the Company held $63.4 million of financial instruments where book value approximates fair value which are predominantly FHLB stock. 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: Fair Value As of December 31, 2017 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 504,228 Liquidation Liquidation value $90 - $97 ($94.91) Discounted cash flow Liquidity premium 0.06% - 1.17% (0.75%) Paydown rate 11.31% - 11.97% (11.54%) Corporate securities 617,770 Discounted cash flow Spread over treasury 0.81% - 3.95% (1.06%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 15,554 Actuarial cash flow model Mortality 91.4% to 106.6% of Ruark 2015 ALB Table Lapse 1.0% - 30.0%, depe

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2018
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, 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 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. Derivatives Related to Foreign Currency Exchange Risk Management Derivative instruments that are used as part of the Company’s foreign currency exchange risk management strategy include foreign currency swaps, foreign currency futures, foreign equity futures, and foreign equity options. 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, YRT premium support agreements, 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 GLWB 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. It is the Company's policy not to offset assets and liabilities associated with open derivative contracts. However, the Chicago Mercantile Exchange (“CME”) rules characterize variation margin transfers as settlement payments, as opposed to adjustments to collateral. As a result, derivative assets and liabilities associated with centrally cleared derivatives for which the CME serves as the central clearing party are presented as if these derivatives had been settled as of the reporting date. 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 • To hedge a fixed rate note denominated in a foreign currency, the Company entered into a fixed-to-fixed foreign currency swap in order to hedge the foreign currency exchange risk associated with the note. The cash flows received on the swap are identical to the cash flow paid on the note. • To hedge a floating rate note, the Company entered into an interest rate swap to exchange the floating rate on the note for a fixed rate in order to hedge the interest rate risk associated with the note. The cash flows received on the swap are identical to the cash flow variability paid on the note. 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 futures, equity options, total return swaps, interest rate futures, interest rate swaps, interest rate swaptions, currency futures, volatility futures, volatility options, and variance swaps to mitigate the risk related to certain guaranteed minimum benefits, including GLWB, 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 markets certain VA products with a GLWB rider. The GLWB 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 GLWB 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 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 and certain of its subsidiaries have an interest support agreement, YRT premium support agreements, and 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 arrangements 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 For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures $ (25,473 ) $ 26,015 $ (3,450 ) Equity futures (88,208 ) (91,776 ) (106,431 ) Currency futures 10,275 (23,176 ) 33,836 Equity options 38,083 (94,791 ) (60,962 ) Interest rate swaptions (14 ) (2,490 ) (1,161 ) Interest rate swaps (45,185 ) 27,981 20,420 Total return swaps 77,225 (32,240 ) — Embedded derivative - GLWB (27,761 ) (8,526 ) 13,306 Funds withheld derivative (25,541 ) 138,227 115,540 Total derivatives related to VA contracts (86,599 ) (60,776 ) 11,098 Derivatives related to FIA contracts: Embedded derivative 35,397 (55,878 ) (16,494 ) Equity futures 330 642 4,248 Volatility futures — — — Equity options (38,885 ) 44,585 8,149 Total derivatives related to FIA contracts (3,158 ) (10,651 ) (4,097 ) Derivatives related to IUL contracts: Embedded derivative 9,062 (14,117 ) 9,529 Equity futures 261 (818 ) 129 Equity options (6,338 ) 9,580 3,477 Total derivatives related to IUL contracts 2,985 (5,355 ) 13,135 Embedded derivative - Modco reinsurance treaties 166,757 (103,009 ) 390 Derivatives with PLC (1) (902 ) 42,699 29,289 Other derivatives 14 50 (25 ) Total realized gains (losses) - derivatives $ 79,097 $ (137,042 ) $ 49,790 (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 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) (Effective Portion) Benefits and settlement expenses Realized investment gains (losses) (Dollars In Thousands) For The Year Ended December 31, 2018 Foreign currency swaps $ (812 ) $ (798 ) $ — Interest rate swaps (1,574 ) (633 ) — Total $ (2,386 ) $ (1,431 ) $ — For The Year Ended December 31, 2017 Foreign currency swaps $ (867 ) $ (694 ) $ — Total $ (867 ) $ (694 ) $ — For The Year Ended December 31, 2016 Foreign currency swaps $ 1,058 $ (60 ) $ — Total $ 1,058 $ (60 ) $ — Based on expected cash flows of the underlying hedged items, the Company expects to reclassify $0.1 million out of accumulated other comprehensive income into earnings during the next twelve months. 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: As of December 31, 2018 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Cash flow hedges: Foreign currency swaps $ — $ — $ 117,178 $ 6,016 Derivatives not designated as hedging instruments: Interest rate swaps 1,515,500 28,501 1,265,000 55,411 Total return swaps 138,070 3,971 190,938 135 Derivatives with PLC (1) 2,856,351 90,049 2,810,469 91,578 Embedded derivative - Modco reinsurance treaties 585,294 7,072 64,472 1,009 Embedded derivative - GLWB 1,919,861 54,221 2,116,935 67,879 Interest rate futures 286,208 10,302 1,071,870 3,178 Equity futures 12,633 483 62,266 154 Currency futures — — 1,117 2 Equity options 5,624,081 220,092 4,436,467 403,961 Interest rate swaptions — — 225,000 14 Other 157 136 157 200 $ 12,938,155 $ 414,827 $ 12,361,869 $ 629,537 Other liabilities Cash flow hedges: Interest rate swaps $ 350,000 $ — $ — $ — Foreign currency swaps 117,178 904 — — Derivatives not designated as hedging instruments: Interest rate swaps 775,000 11,367 597,500 2,960 Total return swaps 768,177 23,054 243,388 318 Embedded derivative - Modco reinsurance treaties 1,795,287 32,828 2,390,539 215,247 Funds withheld derivative 1,992,562 95,142 1,502,726 61,729 Embedded derivative - GLWB 4,071,322 97,528 1,939,320 83,427 Embedded derivative - FIA 2,576,033 217,288 1,951,650 218,676 Embedded derivative - IUL 233,550 90,231 168,349 80,212 Interest rate futures 863,706 20,100 230,404 917 Equity futures 659,357 33,753 318,795 2,593 Currency futures 202,747 2,163 255,248 2,087 Equity options 4,199,687 34,178 3,112,812 237,807 Other 3,288 252 — — $ 18,607,894 $ 658,788 $ 12,710,731 $ 905,973 (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 LIABIL

OFFSETTING OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2018
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 14, Debt and Other Obligations for details of the Company’s repurchase agreement programs. Collateral received includes both cash and non-cash collateral. Cash collateral received by the Company is recorded on the consolidated balance sheet as “cash”, with a corresponding amount recorded in “other liabilities” to represent the Company’s obligation to return the collateral. Non-cash collateral received by the Company is not recognized on the consolidated balance sheet unless the Company exercises its right to sell or re-pledge the underlying asset. As of December 31, 2018, the fair value of non-cash collateral received was $45.0 million . As of December 31, 2017, the Company had no t received any non-cash collateral. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2018 : 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 Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 263,349 $ — $ 263,349 $ 70,322 $ 99,199 $ 93,828 Total derivatives, subject to a master netting arrangement or similar arrangement 263,349 — 263,349 70,322 99,199 93,828 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 7,072 — 7,072 — — 7,072 Embedded derivative - GLWB 54,221 — 54,221 — — 54,221 Derivatives with PLC 90,049 — 90,049 — — 90,049 Other 136 — 136 — — 136 Total derivatives, not subject to a master netting arrangement or similar arrangement 151,478 — 151,478 — — 151,478 Total derivatives 414,827 — 414,827 70,322 99,199 245,306 Total Assets $ 414,827 $ — $ 414,827 $ 70,322 $ 99,199 $ 245,306 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 Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 125,519 $ — $ 125,519 $ 70,322 $ 47,856 $ 7,341 Total derivatives, subject to a master netting arrangement or similar arrangement 125,519 — 125,519 70,322 47,856 7,341 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 32,828 — 32,828 — — 32,828 Funds withheld derivative 95,142 — 95,142 — — 95,142 Embedded derivative - GLWB 97,528 — 97,528 — — 97,528 Embedded derivative - FIA 217,288 — 217,288 — — 217,288 Embedded derivative - IUL 90,231 — 90,231 — — 90,231 Other 252 — 252 — — 252 Total derivatives, not subject to a master netting arrangement or similar arrangement 533,269 — 533,269 — — 533,269 Total derivatives 658,788 — 658,788 70,322 47,856 540,610 Repurchase agreements (1) 418,090 — 418,090 — — 418,090 Total Liabilities $ 1,076,878 $ — $ 1,076,878 $ 70,322 $ 47,856 $ 958,700 (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, 2017 . 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 Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 468,871 $ — $ 468,871 $ 242,105 $ 108,830 $ 117,936 Total derivatives, subject to a master netting arrangement or similar arrangement 468,871 — 468,871 242,105 108,830 117,936 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,009 — 1,009 — — 1,009 Embedded derivative - GLWB 67,879 — 67,879 — — 67,879 Derivatives with PLC 91,578 — 91,578 — — 91,578 Other 200 — 200 — — 200 Total derivatives, not subject to a master netting arrangement or similar arrangement 160,666 — 160,666 — — 160,666 Total derivatives 629,537 — 629,537 242,105 108,830 278,602 Total Assets $ 629,537 $ — $ 629,537 $ 242,105 $ 108,830 $ 278,602 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 Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 246,682 $ — $ 246,682 $ 242,105 $ 4,577 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 246,682 — 246,682 242,105 4,577 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 215,247 — 215,247 — — 215,247 Funds withheld derivative 61,729 — 61,729 — — 61,729 Embedded derivative - GLWB 83,427 — 83,427 — — 83,427 Embedded derivative - FIA 218,676 — 218,676 — — 218,676 Embedded derivative - IUL 80,212 — 80,212 — — 80,212 Total derivatives, not subject to a master netting arrangement or similar arrangement 659,291 — 659,291 — — 659,291 Total derivatives 905,973 — 905,973 242,105 4,577 659,291 Repurchase agreements (1) 885,000 — 885,000 — — 885,000 Total Liabilities $ 1,790,973 $ — $ 1,790,973 $ 242,105 $ 4,577 $ 1,544,291 (1) Borrowings under repurchase agreements are for a term less than 90 days.

MORTGAGE LOANS

MORTGAGE LOANS	12 Months Ended
	Dec. 31, 2018
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, 2018 , the Company’s mortgage loan holdings were approximately $7.7 billion . The Company has specialized in making loans on credit-oriented commercial properties, credit-anchored strip shopping centers, senior living facilities, 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. The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2018 : Type Percentage of Mortgage Loans on Real Estate Retail 45.0 % Office Buildings 13.2 Apartments 10.2 Warehouses 11.3 Senior housing 15.8 Other 4.5 100.0 % The Company specializes in originating mortgage loans on either credit-oriented or credit-anchored commercial properties. No single tenant’s exposure represents more than 1.2% of mortgage loans. Approximately 62.5% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Florida 8.8 % Alabama 8.6 Texas 7.5 Georgia 7.3 California 7.2 Michigan 4.8 Tennessee 4.7 Utah 4.7 Ohio 4.5 North Carolina 4.4 62.5 % During the year ended December 31, 2018, the Company funded approximately $1.5 billion of new loans, with an average loan size of $9.1 million . The average size mortgage loan in the portfolio as of December 31, 2018 , was $4.4 million and the weighted-average interest rate was 4.6% . The largest single mortgage loan at December 31, 2018 was $48.8 million . Certain of the mortgage loans have call options that occur within the next 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 inc reased market rates . Assuming the loans are called at their next call dates, approximately $109.8 million would become due in 2019 , $819.4 million in 2020 through 2024 , and $61.2 million in 2025 through 2029 . 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, 2018 and 2017 , approximately $700.6 million and $669.3 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 when received. During the years ended December 31, 2018 , 2017, and 2016, the Company recognized $29.4 million , $37.2 million , and $16.7 million of participating mortgage loan income, respectively. As of December 31, 2018, approximately $3.0 million of invested assets consisted of nonperforming mortgage loans, restructured mortgage loans, 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, 2018, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. 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. During the year ended December 31, 2018, the Company recognized one troubled debt restructuring transaction as a result of the Company granting a concession to a borrower which included loan terms unavailable from other lenders. The concession was the result of agreements between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2018 . As of December 31, 2017, approximately $6.5 million 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, 2017, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. 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. During the year ended December 31, 2017, the Company recognized two troubled debt restructurings as a result of the Company granting concessions to borrowers which included loans terms unavailable from other lenders. These concessions were the result of agreements between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2017. As of December 31, 2016, approximately $1.5 million 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, 2016, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. 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. During the year ended December 31, 2016, the Company recognized a troubled debt restructuring as a result of the Company granting a concession to a borrower which included loans terms unavailable from other lenders and reduced the expected cash flows on the loan. This concession was the result of agreements between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2016. As of December 31, 2018 , there was an allowance for mortgage loan credit losses of $1.3 million and as of December 31, 2017 , there were no allowances for mortgage loan credit losses. 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: As of December 31, 2018 2017 (Dollars In Thousands) Beginning balance $ — $ 724 Charge offs — (6,708 ) Recoveries (209 ) (731 ) Provision 1,505 6,715 Ending balance $ 1,296 $ — It is the Company’s policy to cease accruing 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) As of December 31, 2018 Commercial mortgage loans $ 1,044 $ — $ 1,234 $ 2,278 Number of delinquent commercial mortgage loans 4 — 1 5 As of December 31, 2017 Commercial mortgage loans $ 1,817 $ — $ — $ 1,817 Number of delinquent commercial mortgage loans 2 — — 2 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) As of December 31, 2018 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 5,684 5,309 1,296 1,895 267 293 As of December 31, 2017 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded — — — — — — Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2018 and 2017 were as follows: Number of contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) As of December 31, 2018 Troubled debt restructuring: Commercial mortgage loans 1 $ 2,688 $ 1,742 As of December 31, 2017 Troubled debt restructuring: Commercial mortgage loans 1 $ 418 $ 418

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	12 Months Ended
	Dec. 31, 2018
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [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: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 843,448 $ 576,685 Capitalization of commissions, sales, and issue expenses 446,593 335,601 Amortization (133,500 ) (53,604 ) Change due to unrealized investment gains and losses 56,153 (15,234 ) Implementation of ASU 2014-09 135,919 — Balance, end of period $ 1,348,613 $ 843,448 Value of Business Acquired The balances and changes in VOBA are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 1,361,953 $ 1,447,839 Acquisitions 336,862 — Amortization (92,566 ) (25,839 ) Change due to unrealized investment gains and losses 71,468 (60,047 ) Balance, end of period $ 1,677,717 $ 1,361,953 Based on the balance recorded as of December 31, 2018 , the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2019 $ 140,445 2020 128,876 2021 114,252 2022 104,148 2023 94,741

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL During the fourth quarter of 2018, the Company performed its annual qualitative evaluation of goodwill based on the circumstances that existed as of October 1, 2018 and determined that there was no indication that its segment goodwill was more likely than not impaired and no adjustment to impair goodwill was necessary. The Company has assessed whether events have occurred subsequent to October 1, 2018 that would impact the Company’s conclusion and no such events were identified. After consideration of applicable factors and circumstances noted as part of the annual assessment, the Company determined that no triggering events had occurred and it was more likely than not that the increase in the fair value of the reporting unit would exceed the increase in the carrying value of the reporting units. As of December 31, 2018, the Company increased its goodwill balance by approximately $32.0 million . Refer to Note 1, Basis of Presentation for additional information. As of December 31, 2018 , the balance of goodwill for the Company was $825.5 million .

CERTAIN NONTRADITIONAL LONG-DUR

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	12 Months Ended
	Dec. 31, 2018
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 GLWB 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 GLWB were $8.4 billion and $9.7 billion as of December 31, 2018 and 2017, respectively. For more information regarding the valuation of and income impact of GLWB, please refer to Note 2, Summary of Significant Accounting Policies , Note 6, Fair Value of Financial Instruments , and Note 7, 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 6.51% , age-based mortality from the Ruark 2015 ALB table adjusted for company and industry experience, lapse rates determined by a dynamic formula, and an average discount rate of 4.8% . 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 $11.8 billion and $13.7 billion as of December 31, 2018 and 2017, respectively. The total GMDB amount payable based on VA account balances as of December 31, 2018 , was $340.6 million (including $274.4 million in the Annuities segment and $66.2 million in the Acquisitions segment) with a GMDB reserve of $39.2 million and $5.1 million in the Annuities and Acquisitions segment, respectively. The average attained age of contract holders as of December 31, 2018 for the Company was 71 years . 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 $12.3 million a nd is included in the Acquisitions segment. The average attained age of contract holders as of December 31, 2018 , was 68 years . Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 26,934 $ 27,835 $ 29,931 Incurred guarantee benefits 11,065 (181 ) (682 ) Less: Paid guarantee benefits 3,299 720 1,414 Ending balance $ 34,700 $ 26,934 $ 27,835 Account balances of variable annuities with guarantees invested in variable annuity separate accounts are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Equity mutual funds $ 5,300,024 $ 8,914,637 Fixed income mutual funds 6,568,575 4,820,349 Total $ 11,868,599 $ 13,734,986 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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Deferred asset, beginning of period $ 30,956 $ 22,497 $ 11,756 Amounts deferred 13,336 14,246 16,212 Amortization (4,715 ) (5,787 ) (5,471 ) Deferred asset, end of period $ 39,577 $ 30,956 $ 22,497

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
REINSURANCE	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, 2018 , the Company had reinsured approximately 34% of the face value of its life insurance in-force. The Company has reinsured approximately 15% of the face value of its life insurance in-force with the following three reinsurers: • Security Life of Denver Insurance Co. (currently administered by Hannover 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, 2018 , 2017 , or 2016 related to these reinsurers. The Company has set limits on the amount of insurance retained on the life of any one person. The amount of insurance retained by the Company on any one life on traditional life insurance was $500,000 in years prior to mid-2005. In 2005, this retention amount was increased to $1,000,000 for certain policies, and during 2008, it was increased to $2,000,000 for certain policies. During 2016, the retention amount was increased to $5,000,000 . 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- 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: As of December 31, 2018 2017 (Dollars In Thousands) Direct life insurance in-force $ 765,986,223 $ 751,512,468 Amounts assumed from other companies 135,407,408 110,205,190 Amounts ceded to other companies (302,149,614 ) (328,377,398 ) Net life insurance in-force $ 599,244,017 $ 533,340,260 Percentage of amount assumed to net 23 % 21 % 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 (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees: -1 Life insurance $ 2,681,191 $ (1,249,906 ) $ 626,283 $ 2,057,568 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 284,323 (103,478 ) 4,857 185,702 Total $ 3,012,542 $ (1,383,510 ) $ 643,966 $ 2,272,998 For The Year Ended December 31, 2017 Premiums and policy fees: Life insurance $ 2,655,846 $ (1,230,258 ) $ 435,113 $ 1,860,701 (1) Accident/health insurance 51,991 (33,052 ) 14,946 33,885 Property and liability insurance 288,809 (103,786 ) 9,657 194,680 Total $ 2,996,646 $ (1,367,096 ) $ 459,716 $ 2,089,266 For The Year Ended December 31, 2016 Premiums and policy fees: Life insurance $ 2,610,682 $ (1,207,159 ) $ 454,999 $ 1,858,522 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 242,517 (86,629 ) 5,706 161,594 Total $ 2,911,275 $ (1,330,723 ) $ 478,144 $ 2,058,696 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $80.1 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. As of December 31, 2018 and 2017 , policy and claim reserves relating to insurance ceded of $4.5 billion and $4.8 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, 2018 and 2017 , the Company had paid $116.1 million and $96.6 million , respectively, of ceded benefits which are recoverable from reinsurers. In addition, as of December 31, 2018 and 2017 , the Company had receivables of $64.8 million and $65.1 million , respectively, related to insurance assumed. The Company’s third party reinsurance receivables amounted to $4.5 billion and $4.8 billion as of December 31, 2018 and 2017 , 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: As of December 31, 2018 2017 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) Security Life of Denver Insurance Company $ 722.2 A $ 740.8 A Swiss Re Life & Health America, Inc. 603.8 A+ 614.8 A+ Lincoln National Life Insurance Co. 461.1 A+ 489.1 A+ SCOR Global Life (1) 317.2 A+ 331.8 A+ Transamerica Life Insurance Co. 301.0 A+ 335.6 A+ RGA Reinsurance Company 260.5 A+ 278.3 A+ American United Life Insurance Company 242.8 A+ 266.7 A+ Centre Reinsurance (Bermuda) Ltd 197.4 NR 212.2 NR The Canada Life Assurance Company 188.2 A+ 186.1 A+ Employers Reassurance Corporation 178.4 B+ 193.9 A- (1) Includes SCOR Global Life Americas Reinsurance Company, SCOR Global Life USA Reinsurance Co, and SCOR Global Life Reinsurance Co of Delaware 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, 2018
Debt Disclosure [Abstract]
DEBT AND OTHER OBLIGATIONS	DEBT AND OTHER OBLIGATIONS Under a revolving line of credit arrangement that was in effect until May 3, 2018 (the “2015 Credit Facility”), the Company had the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion . 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 $1.25 billion . Balances outstanding under the 2015 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 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 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 the Company’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The annual facility fee rate was 0.125% of the aggregate principal amount. 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 2015 Credit Facility. The maturity date of the 2015 Credit Facility was February 2, 2020. On May 3, 2018, the Company amended the 2015 Credit Facility (as amended, the “Credit Facility”). Under the 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 Credit Facility be increased up to a maximum principal amount of $1.5 billion . Balances outstanding under the 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 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 that varies with the ratings of PLC’s Senior Debt and that is calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The annual facility fee rate is 0.125% of the aggregate principal amount. The 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 Credit Facility. The maturity date of the Credit Facility is May 3, 2023. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2018. PLC did not have an outstanding balance on the Credit Facility as of December 31, 2018. During 2018, PLICO issued $110.0 million of Subordinated Funding Obligations at a rate of 3.55% due 2038. These obligations are non-recourse to the Company. Non-Recourse Funding Obligations Golden Gate Captive Insurance Company On January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a Vermont special purpose financial insurance company and 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 WCL, a direct wholly owned subsidiary of the Company. Steel City issued notes (the “Steel City 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, other than Golden Gate, are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. As of December 31, 2018 , the aggregate principal balance of the Steel City Notes was $1.883 billion . In connection with this 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 support agreements provide that amounts would become payable by PLC if Golden Gate’s annual general corporate expenses were higher than modeled amounts, certain reinsurance rates applicable to the subject business increase beyond 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 a separate agreement to guarantee payment of certain fee amounts in connection with the credit enhancement of the Steel City Notes. As of December 31, 2018 , no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate had a $1.883 billion outstanding non-recourse funding obligation as of December 31, 2018 . This non-recourse funding obligation matures in 2039 and accrues interest at a fixed annual rate of 4.75% . 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 as of December 31, 2018 . 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, 2018 , securities related to $20.6 million of the balance of the non-recourse funding obligations were held by external parties, securities related to $309.3 million of the non-recourse fun ding obligations were held by nonconsolidated affiliates, and $245.1 million were held by consolidated subsidiaries of the Company. P LC 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. The Company made a payment of $0.6 million under the Interest Support Agreement during the second quarter of 2018. In addition, certain Interest Support Agreement obligations to the Company of approximately $4.9 million have been collateralized by PLC under the terms of that agreement. As of December 31, 2018, no payments have been received under the YRT Premium Support Agreement. Re-evaluation and, if necessary, adjustments of any support agreement collateralization amounts occur annually during the first quarter pursuant to the terms of the support agreements. During the year ended December 31, 2018 , the Company and its affiliates repurchased $38.0 million of its outstanding non-recourse obligations, at a discount. During the year ended December 31, 2017, the Company and its affiliates did not repurchase any of its outstanding non-recourse funding obligations. 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, 2018 , the principal balance of the Red Mountain note was $670 million . Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $114.8 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, 2018 , no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate V had a $670 million outstanding non-recourse funding obligation as of December 31, 2018 . 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, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Weighted- Avg Interest Rate (Dollars In Thousands) As of December 31, 2018 Golden Gate Captive Insurance Company (2)(3) $ 1,883,000 $ 1,883,000 2039 4.75 % Golden Gate II Captive Insurance Company 329,949 273,535 2052 4.24 % Golden Gate V Vermont Captive Insurance Company (2)(3) 670,000 729,454 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,340 2024 6.19 % Total $ 2,884,040 $ 2,888,329 Issuer Outstanding Principal Carrying Value (1) Maturity Year-to-Date (Dollars In Thousands) As of December 31, 2017 Golden Gate Captive Insurance Company (3) $ 2,014,000 $ 2,014,000 2039 4.75 % Golden Gate II Captive Insurance Company 309,849 255,132 2052 1.30 % Golden Gate V Vermont Captive Insurance Company (3) 620,000 681,285 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,405 2024 6.19 % Total $ 2,944,940 $ 2,952,822 (1) Carrying values include premiums and discounts and do no represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of PLC. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of the Company. (3) Fixed rate obligations Letters of Credit Golden Gate III Vermont Captive Insurance Company On April 23, 2010, Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary of PLICO, entered into a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the Reimbursement Agreement, UBS issued a letter of credit (the “LOC)”) to a trust for the benefit of WCL. The Reimbursement Agreement has undergone three separate amendments and restatements. The Reimbursement Agreement’s current effective date is June 25, 2014. The LOC balance reached its scheduled peak of $935 million in 2015. As of December 31, 2018 , the LOC balance was $860 million . 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 Gol den 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 $70.0 million and will be paid in two installments with the last payment occurring in 2021. These contributions may be subject to potential offset against dividend payments as permitted under the terms of the 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 Reimbursement Agreement . As of December 31, 2018 , 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. Pursuant to the terms of the Reimbursement Agreement, the LOC reached its scheduled peak amount of $790 million in 2016. As of December 31, 2018 , the LOC balance was $770 million . 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, 2018 , no payments have been made under these agreements. Secured Financing Transactions 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 typically 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, 2018 , the fair value of securities pledged under the repurchase program was $451.9 million and the repurchase obligation of $418.1 million was included in the Company’s consolidated balance sheets (at an average borrowing rate of 245 basis points). During the year ended December 31, 2018 , the maximum balance outstanding at any one point in time related to these programs was $885.0 million . The average daily balance was $511.4 million (at an average borrowing rate of 184 basis points) during the year ended December 31, 2018 . During the year ended December 31, 2017, the maximum balance outstanding at any one point in time related to these programs was $988.5 million . The average daily balance was $624.7 million (at an average borrowing rate of 101 basis points) during the year ended December 31, 2017. Securities Lending The Company participates in securities lending, primarily as an investment yield enhancement, whereby securities that are held as investments are loaned out to third parties for short periods of time. The Company requires initial collateral of 102% of the market value of the loaned securities to be separately maintained. The loaned securities’ market value is monitored on a daily basis. As of December 31, 2018, securities with a market value of $72.2 million were loaned under this program. As collateral for the loaned securities, the Company receives short-term investments, which are recorded in “short-term investments” with a corresponding liability recorded in “secured financing liabilities” to account for its obligation to return the collateral. As of December 31, 2018, the fair value of the collateral related to this program was $77.2 million and the Company has an obligation to return $77.2 million of collateral to the securities borrowers. The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2018 and December 31, 2017: 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, 2018 (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 $ 433,182 $ 18,713 $ — $ — $ 451,895 Mortgage loans — — — — — Total repurchase agreements and repurchase-to-maturity transactions $ 433,182 $ 18,713 $ — $ — $ 451,895 Securities lending transactions Fixed maturity securities 71,285 — — — 71,285 Equity securities 891 — — — 891 Redeemable preferred stock — — — — — Total securities lending transactions 72,176 — — — 72,176 Total securities $ 505,358 $ 18,713 $ — $ — $ 524,071 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, 2017 (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 $ 307,633 $ — $ — $ — $ 307,633 Mortgage loans 698,974 — — — 698,974 Total repurchase agreements and repurchase-to-maturity transactions $ 1,006,607 $ — $ — $ — $ 1,006,607 Securities lending transactions Corporate securities 118,817 — — — 118,817 Equity securities 5,699 — — — 5,699 Redeemable preferred stock 755 — — — 755 Total securities lending transactions 125,271 — — — 125,271 Total securities $ 1,131,878 $ — $ — $ — $ 1,131,878 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 is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Millions) Subordinated funding obligations $ 2.6 $ — $ — Non-recourse funding obligations, other obligations, and repurchase agreements $ 181.9 $ 177.7 $ 170.8 Total interest expense $ 184.5 $ 177.7 $ 170.8

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company leases administrative and marketing office space in approximately 17 cities (excluding the home office building), with most leases being for periods less than one year to nine years . The Company had rental expense of $11.3 million , and $11.7 million , and $11.4 million for the years ended December 31, 2018 , 2017, and 2016, respectively. The aggregate annualized rent was approximately $11.3 million for the year ended December 31, 2018 . The following is a schedule by year of future minimum rental payments required under these leases: Year Amount (Dollars In Thousands) 2019 $ 5,454 2020 3,707 2021 3,393 2022 3,129 2023 3,171 Thereafter 5,418 Additionally, the Company previously leased 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 in December 2018, the Company purchased the building for approximately $75 million . The building is recorded in property and equipment on the consolidated balance sheet. As of December 31, 2018 and 2017 , the Company had outstanding mortgage loan commitments o f $685.3 million at an average rate of 4.42% and $572.3 million at an average rate of 4.14% , respectively. Under the 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. From time to time, companies may be asked to contribute amounts beyond prescribed limits. It is possible that the Company could be assessed with respect to product lines not offered by the Company. In addition, legislation may be introduced in various states with respect to guaranty fund assessment laws related to insurance products, including long term care insurance and other specialty products, that increases the cost of future assessments or alters future premium tax offsets received in connection with guaranty fund assessments. The Company cannot predict the amount, nature or timing of any future assessments or legislation, any of which could have a material and adverse impact on the Company’s financial condition or results of operations. 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 and 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. 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. The Company and certain of its 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 uncertainty as to whether the Company or other companies are responsible for the liabilities, if any, arising in connection with certain co-insured policies. The Company will continue to monitor the matter for any developments that would make the loss contingency associated with the audits reasonably estimable. The Company and certain of its 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, escheating the benefits and interest to the state if the beneficiary could not be found, and paying penalties to the state, if required. 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 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 does not believe such fees, if assessed, would have a material effect on its financial statements. Advance Trust & Life Escrow Services, LTA, as Securities Intermediary of Life Partners Position Holder Trust v. Protective Life Insurance Company, Case No. 2:18-CV-01290, is a putative class action that was filed on August 13, 2018 in the United States District Court for the Northern District of Alabama. Plaintiff alleges that the Company required policyholders to pay unlawful and excessive cost of insurance charges. Plaintiff seeks to represent all owners of universal life and variable universal life policies issued or administered by the Company or its predecessors that provide that cost of insurance rates are to be determined based on expectations of future mortality experience. The plaintiff seeks class certification, compensatory damages, pre-judgment and post-judgment interest, costs, and other unspecified relief. The Company is vigorously defending this matter and cannot predict the outcome of or reasonably estimate the possible loss or range of loss that might result from this litigation.

SHAREOWNER'S EQUITY

SHAREOWNER'S EQUITY	12 Months Ended
	Dec. 31, 2018
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 2018 , 2017 , and 2016 , PL&A paid no dividends to PLC on its preferred stock.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Qualified Pension Plan and Nonqualified Excess Pension Plan PLC sponsors the Qualified 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 Qualified Pension Plan. These changes have been reflected in the computations within this note. • Employees hired after December 31, 2007 and any former employee hired after that date, will receive a cash balance benefit. • Employees active on December 31, 2007, with age plus years of 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 years of 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 also sponsors a Nonqualified Excess Pension Plan, which is an unfunded nonqualified plan that provides defined pension benefits in excess of limits imposed on the Qualified Pension Plan 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, 2018 and 2017: December 31, 2018 December 31, 2017 Qualified Pension Plan Nonqualified Excess Pension Plan Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) Accumulated benefit obligation, end of year $ 269,802 $ 46,299 $ 278,084 $ 50,149 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 300,423 $ 54,590 $ 265,848 $ 47,802 Service cost 13,185 1,415 12,011 1,350 Interest cost 9,830 1,436 9,846 1,480 Amendments — — — — Actuarial (gain)/loss (15,608 ) (2,001 ) 26,539 7,861 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Projected benefit obligation at end of year 288,129 47,345 300,423 54,590 Change in plan assets: Fair value of plan assets at beginning of year 260,926 — 201,843 — Actual return on plan assets (6,070 ) — 29,404 — Employer contributions (1) 18,800 8,095 43,500 3,903 Benefits paid (2) (19,701 ) (8,095 ) (13,821 ) (3,903 ) Fair value of plan assets at end of year 253,955 — 260,926 — After reflecting FASB guidance: Funded status (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in the balance sheet: Other liabilities (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in accumulated other comprehensive income: Net actuarial (gain)/loss 10,370 9,025 2,850 13,521 Prior service cost/(credit) — — — — Total amounts recognized in AOCI $ 10,370 $ 9,025 $ 2,850 $ 13,521 (1) Employer contributions are shown based on the calendar year in which contributions were made to each plan. Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan 2018 2017 2018 2017 Discount rate 4.21 % 3.55 % 3.93 % 3.26 % 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 Weighted-average assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018 , 2017, and 2016, are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.55 % 4.04 % 4.29 % 3.25 % 3.60 % 3.63 % 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 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 Expected long-term return on plan assets 7.00 % 7.00 % 7.25 % N/A 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 received evaluations of market performance based on its asset allocation as provided by external consultants. Components of the net periodic benefit cost for the years ended December 31, 2018 , 2017, and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 (Dollars In Thousands) Service cost — benefits earned during the period $ 13,185 $ 12,011 $ 12,791 $ 1,415 $ 1,350 $ 1,413 Interest cost on projected benefit obligation 9,830 9,846 9,751 1,436 1,480 1,353 Expected return on plan assets (17,058 ) (13,570 ) (13,780 ) — — — Amortization of prior service cost/(credit) — — — — — — Amortization of actuarial loss/(gain) (1) — — — 969 634 178 Preliminary net periodic benefit cost 5,957 8,287 8,762 3,820 3,464 2,944 Settlement/curtailment expense (2)(3)(4) — — (964 ) 1,526 — 2,135 Total net periodic benefit cost $ 5,957 $ 8,287 $ 7,798 $ 5,346 $ 3,464 $ 5,079 (1) 2018 average remaining service period used is 9.17 years and for the unfunded excess benefit plan was 7.73 years from January 1, 2018 to June 30, 2018 and 7.87 years from July 1, 2018 to December 31, 2018. (2) In 2016, PLC amended its Qualified Pension Plan to offer a limited-time opportunity of benefit payouts to eligible, terminated-vested participants (“lump sum window”). The lump sum window provided eligible, terminated vested participants with an option to elect to receive a lump sum settlement of his or her pension benefit in December 2016 or to elect receipt of monthly pension benefits commencing in December 2016. This event triggered settlement accounting for PLC and resulted in the recognition of $1.0 million of settlement income for the twelve months ended December 31, 2016. (3) The Nonqualified Excess Pension Plan triggered settlement accounting for the year ended December 31, 2018 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost. (4) In 2016, the Board of Directors of Protective Life Corporation approved the conversion of the accrued benefit payable under the Nonqualified Excess Pension Plan as of March 31, 2016 to John D. Johns, PLC’s Chairman and Chief Executive Officer at the time, into a lump sum amount. The lump sum amount is allocated to a book entry that will be treated as though it were a pay deferral account under PLC’s deferred compensation plan for officers. Mr. Johns will continue to accrue benefits as though he were accruing benefits under the Nonqualified Excess Pension Plan with respect to this continued service as an employee of PLC after March 31, 2016. The conversion event required PLC to re-measure the Nonqualified Excess Pension Plan as of May 31, 2016 and resulted in the recognition of $2.1 million in settlement expense during the twelve months ended December 31, 2016. For the Qualified Pension Plan, PLC does not expect to amortize any net actuarial loss/(gain) from other comprehensive income into net periodic benefit cost during 2019 since the net actuarial loss/(gain) subject to amortization is less than 10% of the greater of the smooth value of assets or the projected benefit obligation. For the unfunded excess benefit plan, PLC expects to amortize approximately $0.6 million of net actuarial loss from other comprehensive income into net periodic benefit cost during 2019. Estimated future benefit payments under the Qualified Pension Plan and Nonqualified Excess Pension Plan are as follows: Years Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) 2019 $ 19,544 $ 6,788 2020 20,723 5,196 2021 21,153 5,286 2022 22,538 5,583 2023 22,765 4,754 2024 - 2028 120,355 19,586 Qualified Pension Plan Assets Allocation of plan assets of the Qualified Pension Plan by category as of December 31, 2017 are as follows: Asset Category Target 2017 (1) Cash and cash equivalents 2 % 15 % Equity securities 60 55 Fixed income 38 30 Total 100 % 100 % (1) During 2017, PLC made a $43.5 million contribution to the defined benefit pension plan and allocated the contribution to cash and cash equivalents pending further analysis of its investment strategy. The plan’s investment policy was amended to allow for an actual asset allocation outside of the current target allocation until the investment strategy analysis was complete. Prior to the amendment for the $43.5 million contribution made in 2017, the defined benefit pension plan had a target asset allocation of 60% domestic equities, 38% fixed income, and 2% cash. During 2018, PLC completed an asset and liability study of its defined benefit pension plan and the associated investment portfolio. As a result, the Plan’s investment policy statement and investment portfolio were updated. These changes are reflected in the disclosures below. Allocation of plan assets of the defined benefit pension plan by category, as of December 31, 2018 are as follows: Asset Category Target Allocation for 2018 2018 Return-Seeking 60 % 61 % Liability-Hedging Fixed Income 40 39 Total 100 % 100 % PLC’s target asset allocation is designed to provide an acceptable level of risk and balance between return-seeking assets and liability-hedging fixed income assets. The weighting towards return-seeking securities is designed to help provide for an increased level of asset growth potential and liquidity. 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 Qualified Pension Plan’s return seeking assets are in a Russell 3000 index fund that invests in a domestic equity index collective trust managed by Northern Trust Corporation, a Spartan 500 index fund managed by Fidelity, and a Collective All Country World ex-US index fund managed by Northern Trust. The Plan’s cash is invested in a collective trust managed by Northern Trust Corporation. The Plan’s liability-hedging fixed income assets are invested in a group deposit administration annuity contract with the Company and a Long Government Credit Bond index fund managed by BlackRock. The Northern Trust Collective All Country World ex-US index fund and the BlackRock Long Government Credit Bond index fund were added to the Plan’s investment portfolio during 2018. Plan assets of the Qualified Pension Plan by category as of December 31, 2018 and 2017 are as follows: As of December 31, Asset Category 2018 2017 (Dollars In Thousands) Cash and cash equivalents $ 1,225 $ 39,897 Equity securities: Collective Russell 3000 equity index fund 70,599 74,511 Fidelity Spartan 500 index fund 46,300 71,632 Northern Trust ACWI ex-US Fund 41,924 — Liability-hedging fixed income: Group Deposit Administration Annuity Contract 78,707 74,886 BlackRock Long Government Credit Bond Index Fund 15,200 — Total investments 253,955 260,926 Employer contribution receivable — — Total $ 253,955 $ 260,926 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 Qualified Pension Plan’s group deposit administration annuity contract with the Company is recorded at contract value, which 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. For the remaining investments, PLC determines the fair values based on quoted market prices. 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 Qualified Pension Plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 1,225 $ — $ — $ 1,225 Equity securities 158,823 — — 158,823 Fixed income 15,200 — — 15,200 Group deposit administration annuity contract — — 78,707 78,707 Total investments $ 175,248 $ — $ 78,707 $ 253,955 The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 39,897 $ — $ — $ 39,897 Equity securities 146,143 — — 146,143 Group deposit administration annuity contract — — 74,886 74,886 Total investments $ 186,040 $ — $ 74,886 $ 260,926 For the year ended December 31, 2018 and December 31, 2017 , there were no transfers between levels. The following table presents a reconciliation of the beginning and ending balances for the fair value measurements for the year ended December 31, 2018 and for the year ended December 31, 2017 for which PLC has used significant unobservable inputs (Level 3): December 31, 2018 December 31, 2017 (Dollars In Thousands) Balance, beginning of year $ 74,886 $ 71,226 Interest income 3,821 3,660 Transfers from collective short-term investments fund — — Transfers to collective short-term investments fund — — Balance, end of year $ 78,707 $ 74,886 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, 2018 : Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 78,707 Contract Value Contract Rate 5.06% - 5.14% 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. Qualified Pension Plan Funding Policy PLC’s funding policy is to contribute amounts to the Qualified Pension 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 a plan is funded and is obtained by dividing a plan’s assets by its 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 a plan’s AFTAP may be different from the assumptions and methods used to measure a plan’s funded status on a GAAP basis. In July of 2012, the Moving Ahead for Progress in the 21st 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. HAFTA 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 the Company’s minimum required Qualified Pension Plan contributions. 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 the twelve months ended December 31, 2018, PLC contributed $18.8 million to the Qualified Pension Plan for the 2017 plan year. PLC has not yet determined what amount it will fund during 2019, but may contribute an amount that would eliminate the PBGC variable-rate premium payable in 2019. PLC currently estimates that amount will be between $10 million and $20 million . 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, 2018 and 2017 , the accumulated postretirement benefit obligation and projected benefit obligation were immaterial. For a closed group of retirees over age 65, PLC provides a prescription drug benefit. As of December 31, 2018 and December 31, 2017, PLC’s liability related to this benefit was immaterial. 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 benefit obligation associated with these benefits is as follows: As of December 31, Postretirement Life Insurance Plan 2018 2017 (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 10,978 $ 9,634 Service cost 153 122 Interest cost 366 354 Actuarial (gain)/loss (1,045 ) 1,347 Benefits paid (440 ) (479 ) Benefit obligation, end of year $ 10,012 $ 10,978 For the postretirement life insurance plan, PLC’s discount rate assumption used to determine the benefit obligation and the net periodic benefit cost as of December 31, 2018 is 4.38% and 3.74% , respectively. PLC’s expected long-term rate of return assumption used to determine the net periodic benefit cost as of December 31, 2018 is 2.75% . 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. and are invested in a money market fund. 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 life insurance plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 4,854 $ — $ — $ 4,854 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,104 $ — $ — $ 5,104 For the year ended December 31, 2018 and 2017 , 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 tax qualified 401(k) Plan (“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 contribution amount as set periodically by the Internal Revenue Service ( $18,500 for 2018 ). 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 2018 ). 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. For the year ended December 31, 2018 and December 31, 2017, the Company recorded an expense of $9.2 million and $8.2 million associated with 401(k) Plan matching contributions, respectively. PLC also has 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 expense recorded by PLC for this employee benefit was $1.3 million , $1.1 million , and $0.6 million , respectively, in 2018 , 2017 , and 2016 .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017, and 2016. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss on Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Balance, December 31, 2015 $ (1,246,391 ) $ — $ (1,246,391 ) Other comprehensive income (loss) before reclassifications 602,074 688 602,762 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (2,008 ) — (2,008 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (9,442 ) 39 (9,403 ) Balance, December 31, 2016 $ (655,767 ) $ 727 $ (655,040 ) Other comprehensive income (loss) before reclassifications 705,859 (563 ) 705,296 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 391 — 391 Amounts reclassified from accumulated other comprehensive income (loss) (1) (944 ) 451 (493 ) Cumulative effect adjustments (26,470 ) 132 (26,338 ) Balance, December 31, 2017 $ 23,069 $ 747 $ 23,816 Other comprehensive income (loss) before reclassifications (1,411,674 ) (1,884 ) (1,413,558 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (20,751 ) — (20,751 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 15,699 1,130 16,829 Cumulative effect adjustments (10,552 ) — (10,552 ) Balance, December 31, 2018 $ (1,404,209 ) $ (7 ) $ (1,404,216 ) (1) See Reclassification table below for details. (2) As of December 31, 2015, 2016, 2017 and 2018, net unrealized losses reported in AOCI were offset by $623.0 million , $424.1 million , $(6.3) million and $613.4 million , respectively, 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 tables summarize the reclassifications amounts out of AOCI for the years ended December 31, 2018, 2017, and 2016. Gains/(losses) in net income: Affected Line Item in the Consolidated Statements of Income For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivative instruments Benefits and settlement expenses, net of reinsurance ceded (1) $ (1,431 ) $ (694 ) $ (60 ) Tax (expense) benefit 301 243 21 $ (1,130 ) $ (451 ) $ (39 ) Unrealized gains and losses on available-for-sale securities Realized investment gains (losses): All other investments $ 9,851 $ 10,453 $ 32,275 Net impairment losses recognized in earnings (29,724 ) (9,112 ) (17,748 ) Tax (expense) or benefit 4,174 (397 ) (5,085 ) $ (15,699 ) $ 944 $ 9,442 (1) See Note 7, Derivative Financial Instruments for additional information

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
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: For The Year Ended December, 31 2018 2017 2016 Statutory federal income tax rate applied to pre-tax income 21.0 % 35.0 % 35.0 % State income taxes 4.2 0.3 0.6 Investment income not subject to tax (4.5 ) (4.7 ) (3.1 ) Prior period adjustments 1.6 (1.1 ) (1.6 ) Federal Tax law changes — (184.8 ) — Other (0.6 ) 0.5 1.6 21.7 % (154.8 )% 32.5 % The prior period adjustments shown in the effective tax rate reconciliation above include re-measurement adjustments associated with certain MONY deferred tax assets as described below. 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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Current income tax expense: Federal $ 113,925 $ 39,042 $ (41,244 ) State 9,699 (2,477 ) 2,581 Total current $ 123,624 $ 36,565 $ (38,663 ) Deferred income tax expense: Federal $ (73,364 ) $ (757,748 ) $ 204,810 State 3,401 2,774 3,926 Total deferred $ (69,963 ) $ (754,974 ) $ 208,736 The components of the Company’s net deferred income tax liability are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ 120,128 $ 240,419 Deferred compensation 58,533 64,677 Deferred policy acquisition costs 113,959 23,113 Premium on non-recourse funding obligations 905 1,666 Net unrealized loss on investments 373,292 — Valuation allowance (1,589 ) (3,682 ) 665,228 326,193 Deferred income tax liabilities: Premium receivables and policy liabilities 339,555 538,465 VOBA and other intangibles 478,561 433,371 Invested assets (other than unrealized gains (losses)) 720,108 701,070 Net unrealized gains on investments — 6,175 Other 25,343 19,101 1,563,567 1,698,182 Net deferred income tax liability $ (898,339 ) $ (1,371,989 ) The deferred tax assets reported above include certain deferred tax assets related to nonqualified deferred compensation and other employee benefit liabilities that 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, 2018 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. On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The legislation significantly changes U.S. tax law by, among other things, lowering the corporate income tax rate. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% and changes to tax law related to the deductibility of certain deferred tax assets under the Tax Reform Act, we revalued our ending net deferred tax liabilities at December 31, 2017, and recognized a provisional $857.5 million tax benefit in our consolidated statement of income for the year ended December 31, 2017. Also on December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act. The Company recognized the provisional tax impacts based on reasonable estimates made by the Company as to the effects of tax reform on deferred assets due to the application and interpretation of Section 162(m) and included these amounts in its consolidated financial statements for the year ended December 31, 2017. The accounting was completed by December 22, 2018 and there were no material adjustments to the provisional tax benefit. In management’s judgment, the gross deferred income tax asset as of December 31, 2018 will more likely than not be fully realized. The Company has recognized a valuation allowance of $2.0 million and $4.7 million as of December 31, 2018 and 2017 , respectively, related to state-based future deductible temporary differences that it has determined are more likely than not to expire unutilized. This resulting favorable change of $2.7 million , before federal income taxes, decreased state income tax expense in 2018 by the same amount. At December 31, 2018, the Company has intercompany loss carryforwards of $558.7 million that are available to offset future taxable income of certain non-life subsidiaries under the terms of the tax sharing agreement with PLC. Approximately $133.8 million of these loss carryforwards will expire between 2036 and 2037 and the remaining loss carryforwards of $424.9 million have no expiration. Included in the deferred income tax assets above are approximately $12.5 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 2019 and 2038. As of December 31, 2018 and 2017 , some of the Company’s fixed maturities were reported at an unrealized loss, although the net amount is an unrealized gain at December 31, 2018. 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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Balance, beginning of period $ 11,353 $ 9,856 $ 8,937 Additions for tax positions of the current year — 1,857 2,122 Additions for tax positions of prior years — 70 1,318 Reductions of tax positions of prior years: Changes in judgment (4,219 ) (430 ) (975 ) Settlements during the period — — (1,546 ) Lapses of applicable statute of limitations — — — Balance, end of period $ 7,134 $ 11,353 $ 9,856 Included in the end of period balance above, as of December 31, 2018 , there were no unrecognized tax benefits for which the ultimate deductibility is certain but for which there is uncertainty about the timing of such deductions. As of December 31, 2017 and 2016, there were approximately $0.7 million , and $0.7 million , of such unrecognized tax benefits. 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 $7.1 million , $10.7 million , and $9.2 million , for the years ended December 31, 2018 , 2017, and 2016, 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 2018 , 2017 , or 2016 , as the parent company maintains responsibility for the interest on unrecognized tax benefits. 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. In April 2017, a routine review by Congress’ Joint Committee on Taxation was finalized without change and the Company received an approximate $6.2 million net refund in the fourth quarter of 2017. The resulting net adjustment to the Company’s current income taxes for the years 2003 through 2011 did not materially affect the Company or its effective tax rate. In July 2016, the IRS proposed favorable and unfavorable adjustments to the Company’s 2012 and 2013 reported taxable income. The Company agreed to these adjustments. The resulting settlement paid in September 2016 did not materially impact the Company or its effective tax rate. These agreements with the IRS are the primary cause for the reductions of unrecognized tax benefits shown in the above chart. The Company believes that in the next 12 months, none of the unrecognized tax benefits will be reduced due to recent changes in tax law. In general, the Company is no longer subject to income tax examinations by taxing authorities for tax years that began before 2014. Due to the aforementioned IRS adjustments to the Company’s pre-2014 taxable income, the Company has amended certain of its 2003 through 2013 state income tax returns. Such amendments will cause such years to remain open, pending the states’ acceptances of the returns.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash paid / (received) during the year: Interest expense $ 186,295 $ 178,787 $ 142,463 Income taxes 11,703 20,507 127,615

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company provides furnished office space and computers to affiliates through an intercompany agreement. Revenues from this agreement were $6.0 million , $6.2 million , and $5.8 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. The Company purchases data processing, legal, investment, and management services from affiliates. The costs of such services were $249.3 million , $240.9 million , and $258.0 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. In addition, the Company has an intercompany payable with affiliates as of December 31, 2018 and 2017 of $36.4 million and $68.3 million , respectively. There was a $11.3 million and $26.1 million intercompany receivable balance as of December 31, 2018 and 2017 , respectively. 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 $6.8 million , $6.8 million , and $7.2 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. The Company and/or PLC paid commissions, interest on debt and investment products, and fees to these same corporations totaling $2.3 million , $2.4 million , and $2.7 million for the years ended December 31, 2018 , 2017, and 2016, respectively. Prior to the Merger, PLC and the Company had no related party transactions with Dai-ichi Life. During the periods ending December 31, 2018 and 2017, PLC paid a management fee to Dai-ichi Life of $12.2 million and $10.9 million , respectively, for certain services provided to the company. 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. 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 and extended to December 31, 2018 . At the end of the lease term, the Company purchased the building for approximately $75 million . 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 GLWB 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. No additional capital was provided to Shades Creek by PLC during the year ended December 31, 2018. As of December 31, 2018 , 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.

STATUTORY REPORTING PRACTICES A

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2018
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS The Company and its 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. Statu tory net income (loss) for the Company was $321.1 million , $731.2 million , and $(391.6) million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Statutory capital and surplus for the Company was $4.3 billion and $4.3 billion as of December 31, 2018 and 2017 , respectively. The Statutory net loss incurred by the Company for the year ended December 31, 2016 was caused by the required Statutory accounting treatment of the initial gain recognized on the retrocession of the term business assumed from Genworth Life and Annuity Insurance Company to Golden Gate Captive Insurance Company, which resulted in approximately a $1.2 billion gain being included as a component of surplus, rather than reflected in Statutory net income as of the January 15, 2016 cession date. The Company and its 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 without prior approval of the insurance commissioner of the state of domicile. 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 2019 is approximately $154.8 million . Additionally, as of December 31, 2018 , approximately $1.5 billion 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. Additionally, the Company has certain assets that are on deposit with state regulatory authorities and restricted from use. As of December 31, 2018 , the Company and its insurance subsidiaries had on deposit with regulatory authorities, fixed maturity and short-term investments with a fair value of approximately $40.8 million . The states of domicile of the Company and its 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. The favorable (unfavorable) effects of the Company and its statutory surplus, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2018 2017 (Dollars In Millions) Non-admission of goodwill $ (181 ) $ (219 ) Total (net) $ (181 ) $ (219 ) 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 notes issued by affiliates 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, 2018 2017 (Dollars In Millions) Accounting for Letters of Credit as admitted assets $ 1,630 $ 1,670 Accounting for certain notes as admitted assets $ 2,553 $ 2,634 Reserving based on state specific actuarial practices $ 121 $ 122 Reserving difference related to a captive insurance company $ (50 ) $ (37 )

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2018
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 and makes adjustments to its segment reporting as needed. 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, independent distribution organizations, and affinity groups. • The Acquisitions segment focuses on acquiring, converting, and servicing policies and contracts 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 VA 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. This segment also issues funding agreements to the FHLB, and markets GICs to 401(k) and other qualified retirement savings plans. The Company also has an unregistered funding agreement-backed notes program which provides for offers of notes to both domestic and international institutional investors. • The Asset Protection segment markets extended service contracts, GAP products, credit life and disability insurance, and other specialized ancillary products to protect consumers’ investments in automobiles and recreational vehicles. GAP covers the difference between the loan pay-off amount and an asset’s actual cash value in the case of a total loss. Each type of specialized ancillary product protects against damage or other loss to a particular aspect of the underlying asset. • The Corporate and Other segment primarily consists of net investment income on assets supporting our equity capital, unallocated corporate overhead and expenses not attributable to the segments above. This segment includes earnings from several non-strategic or runoff lines of business, various financing and investment related transactions, and the operations of several small subsidiaries. The Company’s management and Board of Directors analyzes and assesses the operating performance of each segment using “pre-tax adjusted operating income (loss)” and “after-tax adjusted operating income (loss)”. Consistent with GAAP accounting guidance for segment reporting, pre-tax adjusted operating income (loss) is the Company’s measure of segment performance. Pre-tax adjusted operating income (loss) is calculated by adjusting “income (loss) before income tax”, by excluding the following items: • realized gains and losses on investments and derivatives, • changes in the GLWB embedded derivatives exclusive of the portion attributable to the economic cost of the GLWB, • actual GLWB incurred claims, and • the amortization of DAC, VOBA, and certain policy liabilities that is impacted by the exclusion of these items. The items excluded from adjusted operating income (loss) are important to understanding the overall results of operations. Pre-tax adjusted operating income (loss) and after-tax adjusted operating income (loss) are not substitutes for income before income taxes or net income (loss), respectively. These measures may not be comparable to similarly titled measures reported by other companies. The Company believes that pre-tax and after-tax adjusted operating income (loss) enhances management’s and the Board of Directors’ understanding of the ongoing operations, the underlying profitability of each segment, and helps facilitate the allocation of resources. After-tax adjusted operating income (loss) is derived from pre-tax adjusted operating income (loss) with the inclusion of income tax expense or benefits associated with pre-tax adjusted operating income. Income tax expense or benefits is allocated to the items excluded from pre-tax adjusted operating income (loss) at the statutory federal income tax rate for the associated period. For periods ending on and prior to December 31, 2017, a rate of 35% was used. Beginning in 2018, a statutory federal income tax rate of 21% was used to allocate income tax expense or benefits to items excluded from pre-tax adjusted operating income (loss). Income tax expense or benefits allocated to after-tax adjusted operating income (loss) can vary period to period based on changes in the Company’s effective income tax rate. In determining the components of the pre-tax adjusted operating income (loss) for each segment, premiums and policy fees, other income, benefits and settlement expenses, and amortization of DAC and 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. There were no significant intersegment transactions during the years ended December 31, 2018, 2017, and 2016. The following tables present a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Life Marketing $ 1,567,857 $ 1,556,207 $ 1,517,542 Acquisitions 2,027,195 1,569,083 1,676,017 Annuities 478,114 486,847 547,512 Stable Value Products 219,501 190,006 114,580 Asset Protection 355,501 370,449 306,237 Corporate and Other 110,848 140,075 131,821 Total revenues $ 4,759,016 $ 4,312,667 $ 4,293,709 Pre-tax Adjusted Operating Income (Loss) Life Marketing $ (13,726 ) $ 55,152 $ 41,457 Acquisitions 282,715 249,749 260,511 Annuities 129,155 171,269 174,362 Stable Value Products 102,328 105,261 61,294 Asset Protection 24,371 17,638 11,309 Corporate and Other (156,722 ) (189,645 ) (161,820 ) Pre-tax adjusted operating income 368,121 409,424 387,113 Realized gains (losses) on investments and derivatives (120,533 ) 54,584 135,568 Income before income tax 247,588 464,008 522,681 Income tax expense (benefit) 53,661 (718,409 ) 170,073 Net income $ 193,927 $ 1,182,417 $ 352,608 Pre-tax adjusted operating income $ 368,121 $ 409,424 $ 387,113 Adjusted operating income tax (expense) benefit (78,973 ) 737,513 (122,624 ) After-tax adjusted operating income 289,148 1,146,937 264,489 Realized gains (losses) on investments and derivatives (120,533 ) 54,584 135,568 Income tax benefit (expense) on adjustments 25,312 (19,104 ) (47,449 ) Net income $ 193,927 $ 1,182,417 $ 352,608 Realized investment (losses) gains: Derivative financial instruments $ 79,097 $ (137,041 ) $ 49,790 All other investments (223,276 ) 121,087 90,630 Net impairment losses recognized in earnings (29,724 ) (9,112 ) (17,748 ) Less: related amortization (1) (11,856 ) (39,480 ) 24,360 Less: VA GLWB economic cost (41,514 ) (40,170 ) (37,256 ) Realized (losses) gains on investments and derivatives $ (120,533 ) $ 54,584 $ 135,568 (1) Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses). For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Net investment income Life Marketing $ 552,697 $ 550,714 $ 523,989 Acquisitions 1,108,218 752,520 764,571 Annuities 335,382 316,582 318,511 Stable Value Products 217,778 186,576 107,010 Asset Protection 25,070 22,298 17,591 Corporate and Other 99,757 94,366 91,791 Total net investment income $ 2,338,902 $ 1,923,056 $ 1,823,463 Amortization of DAC and VOBA Life Marketing $ 116,917 $ 120,753 $ 130,708 Acquisitions 18,690 (6,939 ) 8,178 Annuities 24,274 (54,471 ) (11,031 ) Stable Value Products 3,201 2,354 1,176 Asset Protection 62,984 17,746 21,267 Corporate and Other — — — Total amortization of DAC and VOBA $ 226,066 $ 79,443 $ 150,298 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,607,822 $ 31,859,520 $ 20,160,279 $ 5,107,334 DAC and VOBA 1,499,386 458,977 889,697 6,121 Other intangibles 262,181 31,975 156,785 7,389 Goodwill 215,254 23,862 343,247 113,924 Total assets $ 16,584,643 $ 32,374,334 $ 21,550,008 $ 5,234,768 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 827,416 $ 12,356,003 $ 84,918,374 DAC and VOBA 172,149 — 3,026,330 Other intangibles 122,590 31,934 612,854 Goodwill 129,224 — 825,511 Total assets $ 1,251,379 $ 12,387,937 $ 89,383,069 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,917,752 $ 19,588,133 $ 20,774,566 $ 4,569,639 DAC and VOBA 1,320,776 74,862 772,634 6,864 Other intangibles 281,705 34,548 170,117 8,056 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 16,720,507 $ 19,712,067 $ 22,053,994 $ 4,698,372 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 708,605 $ 14,893,253 $ 75,451,948 DAC and VOBA 30,265 — 2,205,401 Other intangibles 133,234 35,256 662,916 Goodwill 128,182 — 793,470 Total assets $ 1,000,286 $ 14,928,509 $ 79,113,735

CONSOLIDATED QUARTERLY RESULTS

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
CONSOLIDATED QUARTERLY RESULTS — UNAUDITED	CONSOLIDATED QUARTERLY RESULTS — UNAUDITED The Company’s unaudited consolidated quarterly operating data for the year ended December 31, 2018 and 2017 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 Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees $ 883,413 $ 935,928 $ 871,892 $ 965,275 Reinsurance ceded (345,624 ) (391,864 ) (267,910 ) (378,112 ) Net of reinsurance ceded 537,789 544,064 603,982 587,163 Net investment income 489,418 578,414 631,955 639,115 Realized investment gains (losses) (40,725 ) (32,583 ) (46,866 ) (24,005 ) Net impairment losses recognized in earnings (3,645 ) (5 ) (14 ) (26,060 ) Other income 80,674 79,754 80,906 79,685 Total revenues 1,063,511 1,169,644 1,269,963 1,255,898 Total benefits and expenses 1,041,575 1,108,750 1,174,793 1,186,310 Income before income tax 21,936 60,894 95,170 69,588 Income tax expense 3,661 8,626 16,646 24,728 Net income $ 18,275 $ 52,268 $ 78,524 $ 44,860 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2017 Premiums and policy fees $ 855,579 $ 862,906 $ 849,743 $ 888,134 Reinsurance ceded (319,055 ) (344,208 ) (326,572 ) (377,261 ) Net of reinsurance ceded 536,524 518,698 523,171 510,873 Net investment income 474,709 475,722 477,011 495,614 Realized investment gains (losses) (38,059 ) (10,259 ) 23,452 8,912 Net impairment losses recognized in earnings (5,201 ) (2,785 ) (273 ) (853 ) Other income 79,383 82,087 82,031 81,910 Total revenues 1,047,356 1,063,463 1,105,392 1,096,456 Total benefits and expenses 960,712 930,177 939,410 1,018,360 Income before income tax 86,644 133,286 165,982 78,096 Income tax expense 28,305 43,654 49,016 (839,384 ) Net income $ 58,339 $ 89,632 $ 116,966 $ 917,480

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company has evaluated the effects of events subsequent to December 31, 2018 , 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. On January 23, 2019, the Company entered into a Master Transaction Agreement (the “GWL&A Master Transaction Agreement”) with Great-West Life & Annuity Insurance Company (“GWL&A”), Great-West Life & Annuity Insurance Company of New York (“GWL&A of NY”), The Canada Life Assurance Company (“CLAC”) and The Great-West Life Assurance Company (“GWL” and, together with GWL&A, GWL&A of NY and CLAC, the “Sellers”), pursuant to which the Company will acquire via reinsurance (the “Transaction”) substantially all of the Sellers’ individual life insurance and annuity business (the “Individual Life Business”). Pursuant to the GWL&A Master Transaction Agreement, the Company and Protective Life and Annuity Insurance Company (“PLAIC”), a wholly owned subsidiary of the Company, will enter into reinsurance agreements (the “Reinsurance Agreements”) and related ancillary documents at the closing of the Transaction. On the terms and subject to the conditions of the Reinsurance Agreements, the Sellers will cede to the Company and PLAIC, effective as of the closing of the Transaction, substantially all of the insurance policies relating to the Individual Life Business. To support its obligations under the Reinsurance Agreements, the Company will establish trust accounts for the benefit of GWL&A, CLAC and GWL, and PLAIC will establish a trust account for the benefit of GWL&A of NY. The Sellers will retain a block of participating policies, which will be administered by PLC. The Transaction is subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals and the execution of the Reinsurance Agreements and related ancillary documents. The GWL&A Master Transaction Agreement and other transaction documents contain certain customary representations and warranties made by each of the parties, and certain customary covenants regarding the Sellers and the Individual Life Business, and provide for indemnification, among other things, for breaches of those representations, warranties and covenants.

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-16, Insurance Companies, 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) For The Year Ended December 31, 2018 Life Marketing $ 1,499,386 $ 15,318,019 $ 98 $ 422,037 $ 1,043,228 $ 552,697 $ 1,412,001 $ 116,917 $ 69,758 $ 93 Acquisitions 458,976 25,427,730 2,206 6,018,954 952,315 1,108,218 1,636,697 18,690 143,698 13,864 Annuities 889,697 1,050,161 — 8,324,931 71,321 335,382 223,912 24,274 148,615 — Stable Value Products 6,121 — — 5,234,731 — 217,778 109,747 3,201 2,798 — Asset Protection 172,150 51,702 766,641 — 193,936 25,070 111,249 62,984 156,897 189,283 Corporate and Other — 53,006 675 82,538 12,198 99,757 17,646 — 252,344 12,191 Total $ 3,026,330 $ 41,900,618 $ 769,620 $ 20,083,191 $ 2,272,998 $ 2,338,902 $ 3,511,252 $ 226,066 $ 774,110 $ 215,431 For The Year Ended December 31, 2017 Life Marketing $ 1,320,776 $ 15,438,739 $ 107 $ 424,204 $ 1,011,911 $ 550,714 $ 1,319,138 $ 120,753 $ 60,877 $ 111 Acquisitions 74,862 14,323,713 2,423 4,377,020 785,188 752,520 1,204,083 (6,939 ) 110,607 15,964 Annuities 772,633 1,080,629 — 7,308,354 73,617 316,582 216,324 (54,471 ) 146,407 — Stable Value Products 6,864 — — 4,698,371 — 186,576 74,578 2,354 4,407 — Asset Protection 30,266 55,030 747,945 — 205,814 22,298 124,487 17,746 210,579 199,741 Corporate and Other — 58,681 655 78,810 12,736 94,366 16,396 — 281,334 12,749 Total $ 2,205,401 $ 30,956,792 $ 751,130 $ 16,886,759 $ 2,089,266 $ 1,923,056 $ 2,955,006 $ 79,443 $ 814,211 $ 228,565 For The Year Ended December 31, 2016 Life Marketing $ 1,218,944 $ 14,595,370 $ 119 $ 426,422 $ 972,247 $ 523,989 $ 1,267,844 $ 130,708 $ 65,480 $ 122 Acquisitions 106,532 14,693,744 2,734 4,247,081 832,083 764,571 1,232,141 8,178 118,056 18,818 Annuities 655,618 1,097,973 — 7,059,060 66,214 318,511 212,735 (11,031 ) 137,617 — Stable Value Products 5,455 — — 3,501,636 — 107,010 41,736 1,176 3,033 — Asset Protection 37,975 59,947 758,361 — 174,412 17,591 104,327 21,267 169,334 167,544 Corporate and Other — 63,208 723 75,301 13,740 91,791 17,943 — 250,484 13,689 Total $ 2,024,524 $ 30,510,242 $ 761,937 $ 15,309,500 $ 2,058,696 $ 1,823,463 $ 2,876,726 $ 150,298 $ 744,004 $ 200,173 (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, 2018
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - REINSURANCE	SCHEDULE IV - REINSURANCE PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) For The Year Ended December 31, 2018: Life insurance in-force $ 765,986,223 $ (302,149,614 ) $ 135,407,408 $ 599,244,017 23.0 % Premiums and policy fees: Life insurance $ 2,681,191 $ (1,249,906 ) $ 626,283 $ 2,057,568 (1) 30.4 % Accident/health insurance 47,028 (30,126 ) 12,826 29,728 43.1 Property and liability insurance 284,323 (103,478 ) 4,857 185,702 2.6 Total $ 3,012,542 $ (1,383,510 ) $ 643,966 $ 2,272,998 For The Year Ended December 31, 2017: Life insurance in-force $ 751,512,468 $ (328,377,398 ) $ 110,205,190 $ 533,340,260 21.0 % Premiums and policy fees: Life insurance $ 2,655,846 $ (1,230,258 ) $ 435,113 $ 1,860,701 (1) 23.4 % Accident/health insurance 51,991 (33,052 ) 14,946 33,885 44.1 Property and liability insurance 288,809 (103,786 ) 9,657 194,680 5.0 Total $ 2,996,646 $ (1,367,096 ) $ 459,716 $ 2,089,266 For The Year Ended December 31, 2016: Life insurance in-force $ 739,248,680 $ (348,994,650 ) $ 116,265,430 $ 506,519,460 23.0 % Premiums and policy fees: Life insurance $ 2,610,682 $ (1,207,159 ) $ 454,999 $ 1,858,522 (1) 24.5 % Accident/health insurance 58,076 (36,935 ) 17,439 38,580 45.2 Property and liability insurance 242,517 (86,629 ) 5,706 161,594 3.5 Total $ 2,911,275 $ (1,330,723 ) $ 478,144 $ 2,058,696 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $80.1 million , and for the years ended December 31, 2018, 2017, and 2016, respectively.

SCHEDULE V - VALUATION AND QUAL

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE V — VALUATION AND QUALIFYING ACCOUNTS PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES 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, 2018 Allowance for losses on commercial mortgage loans $ — $ (209 ) $ — $ 1,505 $ 1,296 As of December 31, 2017 Allowance for losses on commercial mortgage loans $ 724 $ (7,439 ) $ — $ 6,715 $ —

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
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. 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 (now known as Dai-ichi Life Holdings, Inc., “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, PLC and the Company remain as SEC registrants 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. PLC is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. 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 22, 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	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.
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 on a first in first out basis. 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 at certain reporting dates. Such negative balances are included in other liabilities and were $153.3 million as of December 31, 2018 and $132.7 million as of December 31, 2017 , 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 7.1% ) 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 and the acquisition of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flows and earnings of associated insurance policies and investment contracts. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from associated insurance policies and investment contracts acquired. 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, account values, 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, technology, and software. 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. Software is generally amortized over a three year useful life.
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 computers are depreciated over a four year useful life. Major repairs or improvements ar e 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 qualified 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. The Company records its stable value contract liabilities in the consolidated balance sheets in “Stable value product account balances” at the deposit amount plus accrued interest, adjusted for any unamortized premium or discount. Interest on the contracts is accrued based upon contract terms. Any premium or discount is amortized using the effective yield method. 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.
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 statement of 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”.
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 Living Withdrawal Benefits	Guaranteed Living Withdrawal Benefits The Company also establishes reserves for guaranteed living withdrawal benefits (“GLWB”) on its variable annuity (“VA”) products. The GLWB 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 interest rates and implied volatilities for the equity indices. The fair value of the GLWB is impacted by equity market conditions and can result in the GLWB 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 GLWB 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 GLWB embedded derivative liability. The methods used to estimate the embedded derivative employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the Ruark 2015 ALB table adjusted for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. The Company reinsures certain risks associated with the GLWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC.
Goodwill	Goodwill 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. Accounting for goodwill requires an estimate of the future profitability of the associated lines of business within the Company’s operating segments to assess the recoverability of the capitalized goodwill. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). 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 the qualitative analysis does not indicate that an impairment of segment goodwill is more likely than not then no other specific quantitative impairment testing is required. If it is determined that it is more likely than not that impairment exists, the Company performs a quantitative assessment and 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 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's income tax returns, except for MONY which files separately, are included in PLC's consolidated U.S. income tax return. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "Tax Reform Act"). Further information on the tax impacts of the Tax Reform Act is included in Note 19, Income Taxes . The Company uses the asset and liability method of accounting for income taxes. Generally, most items in pretax book income are also included in taxable income in the same year. However, some items are recognized for book purposes and for tax purposes in different years or are never recognized for either book or tax purposes. Those differences that will never be recognized for either book or tax purposes are permanent differences (e.g., the dividends-received deduction). As a result, the effective tax rate reflected in the financial statements may differ from the statutory rate reflected in the tax return. Those differences that are reported in different years for book and tax purposes are temporary and will reverse over time (e.g., the valuation of future policy benefits). These temporary differences are accounted for in the intervening periods as deferred tax assets and liabilities. Deferred tax assets generally represent revenue that is taxable before it is recognized in financial income and expenses that are deductible after they are recognized in financial income. Deferred tax liabilities generally represent revenues that are taxable after they are recognized in financial income or expenses or losses that are deductible before they are recognized in financial income. Components of accumulated other comprehensive income (loss) ("AOCI") are presented net of tax, and it is the Company's policy to use the aggregate portfolio approach to clear the disproportionate tax effects that remain in AOCI as a result of tax rate changes and certain other events. Under the aggregate portfolio approach, disproportionate tax effects are cleared only when the portfolio of investments that gave rise to the deferred tax item is sold or otherwise disposed of in its entirety. The application of GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance, if necessary, to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance the Company may consider many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process, the first step being recognition. The Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes the liability for unrecognized tax benefits which relate to tax years still subject to review by the Internal Revenue Service (“IRS”) or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations expires. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards, the statute of limitations does not close until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense.
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.
Policyholder Liabilities, Revenues and Benefits Expense	Liabilities for life and annuity benefit reserves consist of liabilities for traditional life insurance, cash values associated with universal life insurance, immediate annuity benefit reserves, and other benefits associated with life and annuity benefits. The unpaid life claim liabilities consist of current pending claims as well as an estimate of incurred but not reported life insurance claims. Other policy benefit reserves consist of certain health insurance policies that are in runoff. The unpaid claim liabilities associated with other policy benefits includes current pending claims, the present value of estimated future claim payments for policies currently receiving benefits and an estimate of claims incurred but not yet reported. 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, 2018 , range from approximately 2.00% to 5.50% . The liability for future policy benefits and claims on traditional life, health, and credit insurance products inclu des 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. 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 0.19% to 11.25% in 2018 . 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 6, 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. 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 6, Fair Value of Financial Instruments . The host contract is accounted for as a UL - Type insurance contract 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 accrued using the effective yield method. 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 indexed universal life (“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 6, 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 accrued 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 Ruark 2015 ALB table adjusted 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, 2018 , 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, 2018 , the GMDB reserve, including the impact of reinsurance, was $34.7 million . Property and Casualty Insurance Products Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP”). Premiums and fees associated with 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. Commissions and fee income associated with other products are recognized as earned when the related services are provided to the customer. 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. Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. In consideration of the amendments in this Update, the Company revised its recognition pattern for administrative fees associated with certain vehicle service and GAP products. Previously, these fees were recognized based on the work effort involved in satisfying the Company’s contract obligations. The Company will recognize these fees on a claims occurrence basis in future periods. To reflect this change in accounting principle, the Company recorded a cumulative effect adjustment as of January 1, 2018 that resulted in a decrease in retained earnings of $90.0 million .
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 as of the Merger date, were recorded in the balance sheet using current accounting policies and the most current assumptions. 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 as of the Merger date. 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 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 Adopted And Not Yet Adopted	Accounting Pronouncements Recently 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. The Company adopted this Update using the modified retrospective approach via a cumulative effect adjustment to retained earnings as of January 1, 2018. The amendments in the Update, along with clarifying updates issued subsequent to ASU 2014-09, impacted some of the Company’s smaller lines of business, specifically revenues at the Company’s affiliated broker dealers and insurance agency, and certain revenues associated with the Company’s Asset Protection products. The lines of business to which the revised guidance applies are not material to the Company’s financial statements. In consideration of the amendments in this Update, the Company revised its recognition pattern for administrative fees associated with certain vehicle service and GAP products. Previously, these fees were recognized based on the work effort involved in satisfying the Company’s contract obligations. The Company will recognize these fees on a claims occurrence basis in future periods. To reflect this change in accounting principle, the Company recorded a cumulative effect adjustment as of January 1, 2018 that resulted in a decrease in retained earnings of $90.0 million . The Company also implemented minor changes to its accounting and disclosures with respect to the lines of business referenced above to ensure compliance with the revised guidance. See above for additional discussion. 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 Update also introduces a single-step impairment model for equity investments without a readily determinable fair value. Additionally, the Update requires changes in instrument-specific credit risk for fair value option liabilities to be recorded in other comprehensive income. The amendments in this Update were effective the interim periods beginning after December 15, 2017 and were applied on a modified retrospective basis. The Company recorded a cumulative-effect adjustment at the date of adoption, January 1, 2018, transferring unrealized gains and losses on available-for-sale equity securities to retained earnings from accumulated other comprehensive income. The impact of this adjustment, net of income tax, resulted in a $10.6 million increase to retained earnings and a corresponding decrease to accumulated other comprehensive income, resulting in no net impact to consolidated shareowner’s equity. The Company has updated its disclosures in Note 5, Investment Operations and Note 6, Fair Value of Financial Instruments in accordance with the ASU. ASU No. 2016-15 - Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update are intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. Specific transactions addressed in the new guidance include: Debt prepayment/extinguishment costs, contingent consideration payments, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investments. The Update does not introduce any new accounting or financial reporting requirements, and was effective for the interim periods beginning after December 15, 2017 using the retrospective method. There was no financial impact. ASU No. 2016-18 - Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Task Force). The amendments in this update provide guidance on the presentation of restricted cash or restricted cash equivalents in the statement of cash flows, thereby reducing diversity in practice related to the presentation of these amounts. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Update is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. There was no impact to the Company on adoption. ASU No. 2017-01 - Business Combinations (Topic 805): Clarifying the Definition of a Business. The purpose of this update is to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in the Update provide a specific test by which an entity may determine whether an acquisition involves a set of assets or a business. The amendments in the Update are to be applied prospectively for periods beginning after December 15, 2017. The Company has reviewed the revised requirements, and does not anticipate that the changes will impact its policies or recent conclusions related to its acquisition activities. ASU No. 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The amendments in this update require entities to disaggregate the current-service-cost component from other components of net benefit cost and present it with other current compensation costs in the income statement. The other components of net benefit cost must be presented outside of income from operations if that subtotal is presented. In addition, the Update requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. The amendments in this update are effective for interim and annual periods beginning after December 15, 2017. As provided for in the ASU, the Company applied the provisions of the statement retrospectively for components of net periodic pension costs and prospectively for capitalization of the service costs component of net periodic costs and net periodic postretirement benefits. The Update did not impact the Company’s financial position, results of operations, or current disclosures. Accounting Pronouncements Not Yet Adopted ASU No. 2016-02 - Leases. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of leases. The most significant change will relate to the accounting model used by lessees. The Update will require all leases with terms greater than 12 months to be recorded on the balance sheet in the form of a lease asset and liability. The lease asset and liability will be measured at the present value of the minimum lease payments less any upfront payments or fees. The amendments in the Update are effective for annual and interim periods beginning after December 15, 2018 on a modified retrospective basis. The Company expects to record a cumulative effect adjustment as of the date of adoption, January 1, 2019, establishing a right of use asset and lease liability of $21.5 million on its consolidated balance sheet to be reflected in the property and equipment and other liabilities line items, respectively. The Company will make updates to its disclosures in the first quarter in order to comply with the new guidance. ASU No. 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this Update require that premiums on callable debt securities be amortized to the first call date. This is a change from current guidance, under which premiums are amortized to the maturity date of the security. The amendments are effective for annual and interim periods beginning after December 15, 2018. The Company recorded a cumulative effect adjustment as of the adoption date, January 1, 2019, resulting in a $50.8 million reduction to retained earnings, net of income tax. ASU No. 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this Update are designed to permit hedge accounting to be applied to a broader range of hedging strategies as well as to more closely align hedge accounting and risk management objectives. Specific provisions include requiring changes in the fair value of a hedging instrument be recorded in the same income statement line as the hedged item when it affects earnings. There was no impact to the Company on adoption. ASU No. 2016-13 - Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this Update introduce a new current expected credit loss (“CECL”) model for certain financial assets, including mortgage loans and reinsurance receivables. The new model will not apply to debt securities classified as available-for-sale. For assets within the scope of the new model, an entity will recognize as an allowance against earnings its estimate of the contractual cash flows not expected to be collected on day one of the asset’s acquisition. The allowance may be reversed through earnings if a security recovers in value. This differs from the current impairment model, which requires recognition of credit losses when they have been incurred and recognizes a security’s subsequent recovery in value in other comprehensive income. The Update also makes targeted changes to the current impairment model for available-for-sale debt securities, which comprise the majority of the Company’s invested assets. Similar to the CECL model, credit loss impairments will be recorded in an allowance against earnings that may be reversed for subsequent recoveries in value. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2019 on a modified retrospective basis. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption, and assessing the impact this standard will have on its operations and financial results. ASU No. 2018-12 - Financial Services - Insurance (Topic 944): Targeted Improvements to Accounting for Long-Duration Contracts. The amendments in this Update are designed to make improvements to the existing recognition, measurement, presentation, and disclosure requirements for certain long-duration contracts issued by an insurance company. The new amendments require insurance entities to provide a more current measure of the liability for future policy benefits for traditional and limited-payment contracts by regularly refining the liability for actual past experience and updated future assumptions. This differs from current requirements where assumptions are locked-in at contract issuance for these contract types. In addition, the updated liability will be discounted using an upper-medium grade (low-credit-risk) fixed income instrument yield that reflects the characteristics of the liability which differs from currently used rates based on the invested assets supporting the liability. In addition, the amendments introduce new requirements to assess market-based insurance contract options and guarantees for Market Risk Benefits and measure them at fair value. This Update also requires insurance entities to amortize deferred acquisition costs on a constant-level basis over the expected life of the contract. Finally this Update requires new disclosures including liability rollforwards and information about significant inputs, judgements, assumptions, and methods used in the measurement. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2020 with early adoption permitted. The Company is currently reviewing its policies, processes, and applicable systems to determine the impact this standard will have on its operations and financial results.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of finite lived intangible assets	Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,351 35,258 Total intangible assets subject to amortization 580,854 630,916 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 612,854 $ 662,916
Schedule of indefinite-lived intangible assets	Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,351 35,258 Total intangible assets subject to amortization 580,854 630,916 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 612,854 $ 662,916
Schedule of future estimated aggregate amortization expense	The following is a schedule of future estimated aggregate amortization expense: Year Amount (Dollars In Thousands) 2019 $ 55,220 2020 52,219 2021 49,614 2022 46,356 2023 45,056
Schedule of property and equipment	Property and equipment consisted of the following: As of December 31, 2018 2017 (Dollars In Thousands) Home office building $ 144,669 $ 68,123 Data processing equipment 28,793 24,102 Other, principally furniture and equipment 16,450 13,871 Total property and equipment subject to depreciation 189,912 106,096 Accumulated depreciation (30,989 ) (21,305 ) Land 24,920 24,920 Total property and equipment $ 183,843 $ 109,711
Schedule of future maturities of stable value products	As of December 31, 2018 , future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2019 $ 1,253.9 2020 - 2021 3,042.5 2022 - 2023 818.7 Thereafter 118.7
Schedule of future policy benefit liabilities	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,573,500 $ 3,885,546 Unpaid life claim liabilities 654,077 595,188 383,620 362,833 Life and annuity future policy benefits 41,537,306 30,568,126 3,957,120 4,248,379 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 220,457 231,565 175,591 185,366 Future policy benefits and claims and associated reinsurance receivable $ 41,900,618 $ 30,956,792 $ 4,213,399 $ 4,526,075 Unearned premiums 769,620 751,130 272,630 274,816 Total policy liabilities and accruals and associated reinsurance receivable $ 42,670,238 $ 31,707,922 $ 4,486,029 $ 4,800,891
Schedule of effect of reinsurance on life insurance premiums written and earned	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,573,500 $ 3,885,546 Unpaid life claim liabilities 654,077 595,188 383,620 362,833 Life and annuity future policy benefits 41,537,306 30,568,126 3,957,120 4,248,379 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 220,457 231,565 175,591 185,366 Future policy benefits and claims and associated reinsurance receivable $ 41,900,618 $ 30,956,792 $ 4,213,399 $ 4,526,075 Unearned premiums 769,620 751,130 272,630 274,816 Total policy liabilities and accruals and associated reinsurance receivable $ 42,670,238 $ 31,707,922 $ 4,486,029 $ 4,800,891 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 (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees: -1 Life insurance $ 2,681,191 $ (1,249,906 ) $ 626,283 $ 2,057,568 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 284,323 (103,478 ) 4,857 185,702 Total $ 3,012,542 $ (1,383,510 ) $ 643,966 $ 2,272,998 For The Year Ended December 31, 2017 Premiums and policy fees: Life insurance $ 2,655,846 $ (1,230,258 ) $ 435,113 $ 1,860,701 (1) Accident/health insurance 51,991 (33,052 ) 14,946 33,885 Property and liability insurance 288,809 (103,786 ) 9,657 194,680 Total $ 2,996,646 $ (1,367,096 ) $ 459,716 $ 2,089,266 For The Year Ended December 31, 2016 Premiums and policy fees: Life insurance $ 2,610,682 $ (1,207,159 ) $ 454,999 $ 1,858,522 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 242,517 (86,629 ) 5,706 161,594 Total $ 2,911,275 $ (1,330,723 ) $ 478,144 $ 2,058,696 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $80.1 million , for the years ended December 31, 2018 , 2017, and 2016, respectively.
Schedule of new accounting pronouncements	The pre-tax impact to each affected line item on the Company’s financial statements is reflected in the table below: As of December 31, 2018 As Reported Previous Accounting Method (Dollars In Millions) Financial Statement Line Item: Balance Sheet Deferred policy acquisition costs and value of business acquired $ 3,026.3 $ 2,887.3 Other liabilities $ 1,939.7 $ 1,683.3 For The Year Ended December 31, 2018 As Reported Previous Accounting Method (Dollars In Millions) Financial Statement Line Item: Statements of Income Other income $ 321.0 $ 322.1 Amortization of deferred policy acquisition costs and value of business acquired $ 226.1 $ 178.1 Other operating expenses, net of reinsurance ceded $ 774.1 $ 825.1

SIGNIFICANT TRANSACTIONS (Table

SIGNIFICANT TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Insurance [Abstract]
Summary of fair values of the net assets acquired	Fair Value As of May 1, 2018 (Dollars in Thousands) Assets Fixed maturities $ 12,588,512 Mortgage loans 435,405 Policy loans 131,489 Total investments 13,155,406 Cash 38,456 Accrued investment income 152,030 Reinsurance receivables 272 Value of business acquired 336,862 Other assets 916 Total assets 13,683,942 Liabilities Future policy benefits and claims $ 11,747,501 Unearned premiums — Total policy liabilities and accruals 11,747,501 Annuity account balances 1,823,444 Other policyholders’ funds 41,936 Other liabilities 71,061 Total liabilities 13,683,942 Net assets acquired $ —
Pro forma information	The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Life Business were completed as of January 1, 2017. The unaudited pro forma condensed results of operations are presented solely for information purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated: Unaudited For The Year Ended December 31, 2018 For The Year Ended December 31, 2017 (Dollars In Thousands) Revenue $ 5,082,755 $ 5,548,132 Net income $ 240,071 $ 1,309,876

MONY CLOSED BLOCK OF BUSINESS (

MONY CLOSED BLOCK OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2018
Closed Block Disclosure [Abstract]
Summary of financial information for the Closed Block	Summarized financial information for the Closed Block as of December 31, 2018 and December 31, 2017 and is as follows: As of December 31, 2018 2017 (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders’ account balances and other policyholder liabilities $ 5,679,732 $ 5,791,867 Policyholder dividend obligation — 160,712 Other liabilities 22,505 30,764 Total closed block liabilities 5,702,237 5,983,343 Closed block assets Fixed maturities, available-for-sale, at fair value 4,257,437 4,669,856 Mortgage loans on real estate 75,838 108,934 Policy loans 672,213 700,769 Cash and other invested assets 116,225 31,182 Other assets 136,388 122,637 Total closed block assets 5,258,101 5,633,378 Excess of reported closed block liabilities over closed block assets 444,136 349,965 Portion of above representing accumulated other comprehensive income: Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820 (120,528 ) — Future earnings to be recognized from closed block assets and closed block liabilities $ 323,608 $ 349,965
Schedule of reconciliation of the policyholder dividend obligation	Reconciliation of the policyholder dividend obligation is as follows: For The Year Ended December 31, 2018 2017 (Dollars In Thousands) Policyholder dividend obligation, beginning balance $ 160,712 $ 31,932 Applicable to net revenue (losses) (33,014 ) (55,241 ) Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation (127,698 ) 184,021 Policyholder dividend obligation, ending balance $ — $ 160,712
Schedule of Closed Block revenues and expenses	Closed Block revenues and expenses were as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Premiums and other income $ 171,117 $ 180,097 $ 189,700 Net investment income 202,282 203,964 211,175 Net investment gains (1,970 ) 910 1,524 Total revenues 371,429 384,971 402,399 Benefits and other deductions Benefits and settlement expenses 337,352 335,200 353,488 Other operating expenses 714 1,940 2,804 Total benefits and other deductions 338,066 337,140 356,292 Net revenues before income taxes 33,363 47,831 46,107 Income tax expense 7,006 27,718 16,137 Net revenues $ 26,357 $ 20,113 $ 29,970

INVESTMENT OPERATIONS (Tables)

INVESTMENT OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Summary of major categories of net investment income	Major categories of net investment income are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 2,043,183 $ 1,610,768 $ 1,547,346 Equity securities 35,282 40,506 38,838 Mortgage loans 322,206 298,387 270,749 Investment real estate 1,778 2,405 2,152 Short-term investments 103,676 114,280 99,979 2,506,125 2,066,346 1,959,064 Other investment expenses 167,223 143,290 135,601 Net investment income $ 2,338,902 $ 1,923,056 $ 1,823,463
Summary of net realized investment gains (losses) for invested assets	Net realized investment gains (losses) for all other investments are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 9,851 $ 12,783 $ 32,183 Equity gains and losses (1) (49,275 ) (2,330 ) 92 Impairments (29,724 ) (9,112 ) (17,748 ) Modco trading portfolio (185,900 ) 119,206 67,583 Other investments 2,048 (8,572 ) (9,228 ) Total realized gains (losses) - investments $ (253,000 ) $ 111,975 $ 72,882 (1) Beginning January 1, 2018, all changes in the fair market value of equity securities are recorded as a realized gain (loss) as a result of the adoption of ASU No. 2016-01. Gross realized gains and gross realized losses on investments available-for-sale (fixed maturities and short-term investments) are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Gross realized gains $ 28,034 $ 18,868 $ 42,058 Gross realized losses Impairments losses $ (29,724 ) $ (9,112 ) $ (17,748 ) Other realized losses $ (18,183 ) $ (8,257 ) $ (9,783 )
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, 2018 : 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 $ 1,485,009 $ (31,302 ) $ 795,765 $ (30,633 ) $ 2,280,774 $ (61,935 ) Commercial mortgage-backed securities 419,420 (7,398 ) 1,405,690 (49,602 ) 1,825,110 (57,000 ) Other asset-backed securities 687,271 (30,963 ) 148,871 (4,435 ) 836,142 (35,398 ) U.S. government-related securities 130,290 (4,668 ) 1,085,654 (41,054 ) 1,215,944 (45,722 ) Other government-related securities 224,273 (15,207 ) 131,569 (18,583 ) 355,842 (33,790 ) States, municipalities, and political subdivisions 1,004,262 (27,180 ) 1,129,152 (91,722 ) 2,133,414 (118,902 ) Corporate securities 18,225,656 (966,825 ) 12,824,024 (1,411,415 ) 31,049,680 (2,378,240 ) Redeemable preferred stock 41,147 (4,467 ) 41,655 (7,093 ) 82,802 (11,560 ) $ 22,217,328 $ (1,088,010 ) $ 17,562,380 $ (1,654,537 ) $ 39,779,708 $ (2,742,547 ) 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, 2017 : 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 $ 765,641 $ (9,666 ) $ 408,460 $ (13,064 ) $ 1,174,101 $ (22,730 ) Commercial mortgage-backed securities 750,643 (8,521 ) 779,086 (21,031 ) 1,529,729 (29,552 ) Other asset-backed securities 86,506 (322 ) 134,316 (5,441 ) 220,822 (5,763 ) U.S. government-related securities 94,110 (688 ) 1,072,232 (31,489 ) 1,166,342 (32,177 ) Other government-related securities 24,830 (169 ) 115,294 (4,779 ) 140,124 (4,948 ) States, municipalities, and political subdivisions 170,268 (1,738 ) 1,027,747 (43,875 ) 1,198,015 (45,613 ) Corporate securities 5,026,417 (55,649 ) 10,947,027 (471,752 ) 15,973,444 (527,401 ) Redeemable preferred stock 22,048 (1,120 ) 23,197 (2,383 ) 45,245 (3,503 ) Equities 86,194 (1,400 ) 91,195 (7,371 ) 177,389 (8,771 ) $ 7,026,657 $ (79,273 ) $ 14,598,554 $ (601,185 ) $ 21,625,211 $ (680,458 ) The chart below summarizes the fair value (proceeds) and the gains/losses realized on securities the Company sold that were in an unrealized gain position and an unrealized loss position. For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Securities in an unrealized gain position: Fair value (proceeds) $ 1,291,826 $ 879,181 $ 1,194,808 Gains realized $ 28,034 $ 18,868 $ 42,058 Securities in an unrealized loss position (1) : Fair value (proceeds) $ 472,371 $ 185,157 $ 85,835 Losses realized $ (18,183 ) $ (8,257 ) $ (9,783 ) (1) The Company made the decision to exit these holdings in conjunction with its overall asset liability management process.
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 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) As of December 31, 2018 Fixed maturities: Residential mortgage-backed securities $ 3,641,678 $ 23,248 $ (61,935 ) $ 3,602,991 $ (18 ) Commercial mortgage-backed securities 2,319,476 3,911 (57,000 ) 2,266,387 — Other asset-backed securities 1,410,059 17,232 (35,398 ) 1,391,893 — U.S. government-related securities 1,658,433 1,794 (45,722 ) 1,614,505 — Other government-related securities 543,534 4,292 (33,790 ) 514,036 — States, municipals, and political subdivisions 3,682,037 25,706 (118,902 ) 3,588,841 876 Corporate securities 38,467,380 112,438 (2,378,240 ) 36,201,578 (29,685 ) Redeemable preferred stock 94,362 — (11,560 ) 82,802 — 51,816,959 188,621 (2,742,547 ) 49,263,033 (28,827 ) Short-term investments 635,375 — — 635,375 — $ 52,452,334 $ 188,621 $ (2,742,547 ) $ 49,898,408 $ (28,827 ) As of December 31, 2017 Fixed maturities: Residential mortgage-backed securities $ 2,321,811 $ 19,412 $ (22,730 ) $ 2,318,493 $ 41 Commercial mortgage-backed securities 1,885,109 4,931 (29,552 ) 1,860,488 — Other asset-backed securities 1,234,376 20,936 (5,763 ) 1,249,549 — U.S. government-related securities 1,255,244 185 (32,177 ) 1,223,252 — Other government-related securities 280,780 9,401 (4,948 ) 285,233 — States, municipals, and political subdivisions 1,770,299 16,959 (45,613 ) 1,741,645 (37 ) Corporate securities 29,446,365 618,582 (527,401 ) 29,537,546 (2,563 ) Redeemable preferred stock 94,362 232 (3,503 ) 91,091 — 38,288,346 690,638 (671,687 ) 38,307,297 (2,559 ) Equity securities 696,706 22,319 (8,771 ) 710,254 — Short-term investments 470,883 — — 470,883 — $ 39,455,935 $ 712,957 $ (680,458 ) $ 39,488,434 $ (2,559 ) (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
Schedule of Fair Value of Trading Securities [Table Text Block]	The fair value of the investments held pursuant to these Modco arrangements are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 241,836 $ 259,694 Commercial mortgage-backed securities 188,925 146,804 Other asset-backed securities 159,907 138,097 U.S. government-related securities 59,794 27,234 Other government-related securities 44,207 63,925 States, municipals, and political subdivisions 286,413 326,925 Corporate securities 1,423,833 1,698,183 Redeemable preferred stock 11,277 3,327 2,416,192 2,664,189 Equity securities 9,892 5,244 Short-term investments 30,926 56,261 $ 2,457,010 $ 2,725,694
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, 2018 , 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) Due in one year or less $ 1,121,731 $ 1,117,140 $ — $ — Due after one year through five years 9,255,369 9,102,884 — — Due after five years through ten years 9,037,543 8,790,872 — — Due after ten years 32,402,316 30,252,137 2,633,474 2,547,210 $ 51,816,959 $ 49,263,033 $ 2,633,474 $ 2,547,210
Gain (loss) on investments	The chart below summarizes the Company’s other-than-temporary impairments of investments. All of the impairments were related to fixed maturities or equity securities. Fixed Maturities Equity Securities Total Securities (Dollars In Thousands) For The Year Ended December 31, 2018 Other-than-temporary impairments $ (56,578 ) $ — $ (56,578 ) Non-credit impairment losses recorded in other comprehensive income 26,854 — 26,854 Net impairment losses recognized in earnings $ (29,724 ) $ — $ (29,724 ) For The Year Ended December 31, 2017 Other-than-temporary impairments $ (1,332 ) $ — $ (1,332 ) Non-credit impairment losses recorded in other comprehensive income (7,780 ) — (7,780 ) Net impairment losses recognized in earnings $ (9,112 ) $ — $ (9,112 ) For The Year Ended December 31, 2016 Other-than-temporary impairments $ (32,075 ) $ — $ (32,075 ) Non-credit impairment losses recorded in other comprehensive income 14,327 — 14,327 Net impairment losses recognized in earnings $ (17,748 ) $ — $ (17,748 )
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): For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 3,268 $ 12,685 $ 22,761 Additions for newly impaired securities 24,858 734 14,876 Additions for previously impaired securities 12 3,175 2,063 Reductions for previously impaired securities due to a change in expected cash flows — (12,726 ) (24,396 ) Reductions for previously impaired securities that were sold in the current period (3,270 ) (600 ) (2,619 ) Ending balance $ 24,868 $ 3,268 $ 12,685
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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ (2,032,573 ) $ 1,083,865 $ 802,248
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, 2018 and 2017 , are as follows: Amortized Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Total OTTI Recognized in OCI As of December 31, 2018 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 750,474 $ — $ (81,657 ) $ 668,817 $ — Steel City LLC 1,883,000 — (4,607 ) 1,878,393 — $ 2,633,474 $ — $ (86,264 ) $ 2,547,210 $ — Amortized Gross Gross Fair Value Total OTTI Recognized in OCI As of December 31, 2017 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 704,904 $ — $ (19,163 ) $ 685,741 $ — Steel City LLC 2,014,000 76,586 — 2,090,586 — $ 2,718,904 $ 76,586 $ (19,163 ) $ 2,776,327 $ —

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 : Measurement Category Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities 4 $ — $ 3,602,991 $ — $ 3,602,991 Commercial mortgage-backed securities 4 — 2,266,387 — 2,266,387 Other asset-backed securities 4 — 970,251 421,642 1,391,893 U.S. government-related securities 4 985,485 629,020 — 1,614,505 State, municipalities, and political subdivisions 4 — 3,588,841 — 3,588,841 Other government-related securities 4 — 514,036 — 514,036 Corporate securities 4 — 35,563,302 638,276 36,201,578 Redeemable preferred stock 4 65,536 17,266 — 82,802 Total fixed maturity securities - available-for-sale 1,051,021 47,152,094 1,059,918 49,263,033 Fixed maturity securities - trading Residential mortgage-backed securities 3 — 241,836 — 241,836 Commercial mortgage-backed securities 3 — 188,925 — 188,925 Other asset-backed securities 3 — 133,851 26,056 159,907 U.S. government-related securities 3 27,453 32,341 — 59,794 State, municipalities, and political subdivisions 3 — 286,413 — 286,413 Other government-related securities 3 — 44,207 — 44,207 Corporate securities 3 — 1,417,591 6,242 1,423,833 Redeemable preferred stock 3 11,277 — — 11,277 Total fixed maturity securities - trading 38,730 2,345,164 32,298 2,416,192 Total fixed maturity securities 1,089,751 49,497,258 1,092,216 51,679,225 Equity securities 3 494,287 — 63,421 557,708 Other long-term investments (1) 3&4 83,047 180,438 151,342 414,827 Short-term investments 3 589,084 77,217 — 666,301 Total investments 2,256,169 49,754,913 1,306,979 53,318,061 Cash 3 151,400 — — 151,400 Assets related to separate accounts 3 Variable annuity 12,288,919 — — 12,288,919 Variable universal life 3 937,732 — — 937,732 Total assets measured at fair value on a recurring basis 3 $ 15,634,220 $ 49,754,913 $ 1,306,979 $ 66,696,112 Liabilities: Annuity account balances (2) 3 $ — $ — $ 76,119 $ 76,119 Other liabilities (1) 3&4 56,018 164,643 438,127 658,788 Total liabilities measured at fair value on a recurring basis $ 56,018 $ 164,643 $ 514,246 $ 734,907 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. (3) Fair Value through Net Income. (4) Fair Value through Other Comprehensive Income. 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, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ 2,318,493 $ — $ 2,318,493 Commercial mortgage-backed securities — 1,860,488 — 1,860,488 Other asset-backed securities — 745,184 504,365 1,249,549 U.S. government-related securities 958,775 264,477 — 1,223,252 State, municipalities, and political subdivisions — 1,741,645 — 1,741,645 Other government-related securities 285,233 — 285,233 Corporate securities — 28,910,645 626,901 29,537,546 Redeemable preferred stock 72,471 18,620 — 91,091 Total fixed maturity securities - available-for-sale 1,031,246 36,144,785 1,131,266 38,307,297 Fixed maturity securities - trading Residential mortgage-backed securities — 259,694 — 259,694 Commercial mortgage-backed securities — 146,804 — 146,804 Other asset-backed securities — 102,875 35,222 138,097 U.S. government-related securities 21,183 6,051 — 27,234 State, municipalities, and political subdivisions — 326,925 — 326,925 Other government-related securities — 63,925 — 63,925 Corporate securities — 1,692,741 5,442 1,698,183 Redeemable preferred stock 3,327 — — 3,327 Total fixed maturity securities - trading 24,510 2,599,015 40,664 2,664,189 Total fixed maturity securities 1,055,756 38,743,800 1,171,930 40,971,486 Equity securities 649,981 — 65,517 715,498 Other long-term investments (1) 51,102 417,969 160,466 629,537 Short-term investments 394,394 132,750 — 527,144 Total investments 2,151,233 39,294,519 1,397,913 42,843,665 Cash 178,855 — — 178,855 Assets related to separate accounts Variable annuity 13,956,071 — — 13,956,071 Variable universal life 1,035,202 — — 1,035,202 Total assets measured at fair value on a recurring basis $ 17,321,361 $ 39,294,519 $ 1,397,913 $ 58,013,793 Liabilities: Annuity account balances (2) $ — $ — $ 83,472 $ 83,472 Other liabilities (1) 5,755 302,656 597,562 905,973 Total liabilities measured at fair value on a recurring basis $ 5,755 $ 302,656 $ 681,034 $ 989,445 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of the valuation method for material financial instruments included in level 3	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: Fair Value As of December 31, 2017 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 504,228 Liquidation Liquidation value $90 - $97 ($94.91) Discounted cash flow Liquidity premium 0.06% - 1.17% (0.75%) Paydown rate 11.31% - 11.97% (11.54%) Corporate securities 617,770 Discounted cash flow Spread over treasury 0.81% - 3.95% (1.06%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 15,554 Actuarial cash flow model Mortality 91.4% to 106.6% of Ruark 2015 ALB Table Lapse 1.0% - 30.0%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.11% - 0.79% Embedded derivative—FIA 218,676 Actuarial cash flow model Expenses $146 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 1994 MGDB table with company experience Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.11% - 0.79% Embedded derivative—IUL 80,212 Actuarial cash flow model Mortality 34% - 152% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.11% - 0.79% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability. 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: Fair Value As of December 31, 2018 Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 421,458 Liquidation Liquidation value $85.75 - $99.99 ($95.36) Discounted cash flow Liquidity premium 0.02% - 1.25% (0.64%) Paydown Rate 10.96% - 13.11% (12.03%) Corporate securities 631,068 Discounted cash flow Spread over treasury 0.84% - 3.00% (1.84%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 43,307 Actuarial cash flow model Mortality 87% to 100% of Lapse Ruark Predictive Model Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.16% Embedded derivative—FIA 217,288 Actuarial cash flow model Expenses $145 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 87% to 100% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.21% - 1.16% Embedded derivative—IUL 90,231 Actuarial cash flow model Mortality 37% - 577% of 2015 Lapse 0.5% - 10%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.16% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability.
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, 2018 , 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 $ — $ — $ — $ — $ (995 ) $ 22,225 $ — $ — $ — $ (21,281 ) $ 51 $ — $ — Commercial mortgage-backed securities — — 50 — (2,497 ) 48,621 (292 ) — — (45,832 ) (50 ) — — Other asset-backed securities 504,365 3,716 16,503 (159 ) (25,578 ) — (80,050 ) — — 222 2,623 421,642 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 626,901 — 12,537 — (29,017 ) 108,491 (97,676 ) — — 20,721 (3,681 ) 638,276 — Total fixed maturity securities - available-for-sale 1,131,266 3,716 29,090 (159 ) (58,087 ) 179,337 (178,018 ) — — (46,170 ) (1,057 ) 1,059,918 — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 35,222 464 — (3,798 ) — 8,728 (14,511 ) — — 164 (213 ) 26,056 (3,179 ) U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 5,442 45 — (145 ) — 999 — — — — (99 ) 6,242 (101 ) Total fixed maturity securities - trading 40,664 509 — (3,943 ) — 9,727 (14,511 ) — — 164 (312 ) 32,298 (3,280 ) Total fixed maturity securities 1,171,930 4,225 29,090 (4,102 ) (58,087 ) 189,064 (192,529 ) — — (46,006 ) (1,369 ) 1,092,216 (3,280 ) Equity securities 65,518 1 — (30 ) — 36 (2,103 ) — — — (1 ) 63,421 282 Other long-term investments (1) 160,466 39,118 — (47,615 ) — — — — (627 ) — — 151,342 (9,124 ) Short-term investments — — — — — — — — — — — — — Total investments 1,397,914 43,344 29,090 (51,747 ) (58,087 ) 189,100 (194,632 ) — (627 ) (46,006 ) (1,370 ) 1,306,979 (12,122 ) Total assets measured at fair value on a recurring basis $ 1,397,914 $ 43,344 $ 29,090 $ (51,747 ) $ (58,087 ) $ 189,100 $ (194,632 ) $ — $ (627 ) $ (46,006 ) $ (1,370 ) $ 1,306,979 $ (12,122 ) Liabilities: Annuity account balances (2) $ 83,472 $ — $ — $ (3,505 ) $ — $ — $ — $ 623 $ 11,481 $ — $ — $ 76,119 $ — Other liabilities (1) 597,562 299,366 — (139,931 ) — — — — — — — 438,127 159,435 Total liabilities measured at fair value on a recurring basis $ 681,034 $ 299,366 $ — $ (143,436 ) $ — $ — $ — $ 623 $ 11,481 $ — $ — $ 514,246 $ 159,435 (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 year ended December 31, 2017, 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 $ — $ 83 $ — $ — $ 11,862 $ (3 ) $ — $ — $ (11,944 ) $ (1 ) $ — $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 562,604 1,410 15,136 — (10,931 ) 100 (59,176 ) — — (6,643 ) 1,865 504,365 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 664,046 — 27,637 — (13,089 ) 131,822 (169,002 ) — — (10,353 ) (4,160 ) 626,901 — Total fixed maturity securities— available-for-sale 1,226,653 1,410 42,856 — (24,020 ) 143,784 (228,181 ) — — (28,940 ) (2,296 ) 1,131,266 — Fixed maturity securities—trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 84,563 3,768 — (1,157 ) — — (52,835 ) — — — 883 35,222 3,483 U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 5,492 101 — (58 ) — — — — — — (93 ) 5,442 44 Total fixed maturity securities—trading 90,055 3,869 — (1,215 ) — — (52,835 ) — — — 790 40,664 3,527 Total fixed maturity securities 1,316,708 5,279 42,856 (1,215 ) (24,020 ) 143,784 (281,016 ) — — (28,940 ) (1,506 ) 1,171,930 3,527 Equity securities 65,786 2 — — — — (273 ) — — 3 — 65,518 3 Other long-term investments (1) 115,516 73,253 — (28,303 ) — — — — — — — 160,466 44,950 Short-term investments — — — — — — — — — — — — — Total investments 1,498,010 78,534 42,856 (29,518 ) (24,020 ) 143,784 (281,289 ) — — (28,937 ) (1,506 ) 1,397,914 48,480 Total assets measured at fair value on a recurring basis $ 1,498,010 $ 78,534 $ 42,856 $ (29,518 ) $ (24,020 ) $ 143,784 $ (281,289 ) $ — $ — $ (28,937 ) $ (1,506 ) $ 1,397,914 $ 48,480 Liabilities: Annuity account balances (2) $ 87,616 $ — $ — $ (4,001 ) $ — $ — $ — $ 623 $ 8,768 $ — $ — $ 83,472 $ — Other liabilities (1) 405,803 35,703 — (227,462 ) — — — — — — — 597,562 (191,759 ) Total liabilities measured at fair value on a recurring basis $ 493,419 $ 35,703 $ — $ (231,463 ) $ — $ — $ — $ 623 $ 8,768 $ — $ — $ 681,034 $ (191,759 ) (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: As of December 31, 2018 2017 Fair Value Level Carrying Amounts Fair Values Carrying Amounts Fair Values (Dollars In Thousands) Assets: Mortgage loans on real estate 3 $ 7,724,733 $ 7,447,702 $ 6,817,723 $ 6,740,177 Policy loans 3 1,695,886 1,695,886 1,615,615 1,615,615 Fixed maturities, held-to-maturity (1) 3 2,633,474 2,547,210 2,718,904 2,776,327 Liabilities: Stable value product account balances 3 $ 5,234,731 $ 5,200,723 $ 4,698,371 $ 4,698,868 Future policy benefits and claims (2) 3 1,671,414 1,671,434 220,498 220,498 Other policyholders’ funds (3) 3 131,150 131,782 133,508 134,253 Debt: (4) Non-recourse funding obligations (5) 3 $ 2,888,329 $ 2,801,399 $ 2,952,822 $ 2,980,495 Subordinated funding obligations 3 110,000 95,476 — — Except as noted below, fair values were estimated using quoted market prices. (1) Securities purchased from unconsolidated subsidiaries, Red Mountain LLC and Steel City LLC. (2) Single premium immediate annuity without life contingencies. (3) Supplementary contracts without life contingencies. (4) Excludes capital lease obligations of $1.3 million and $1.7 million as of December 31, 2018 and 2017, respectively. (5) As of December 31, 2018, carrying amount $2.6 billion and a fair value of $2.5 billion related to non-recourse funding obligations issued by Golden Gate and Golden Gate V. As of December 31, 2017, carrying amount of $2.7 billion and fair value of $2.8 billion related to non-recourse funding obligations issued by Golden Gate and Golden Gate V.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
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 For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures $ (25,473 ) $ 26,015 $ (3,450 ) Equity futures (88,208 ) (91,776 ) (106,431 ) Currency futures 10,275 (23,176 ) 33,836 Equity options 38,083 (94,791 ) (60,962 ) Interest rate swaptions (14 ) (2,490 ) (1,161 ) Interest rate swaps (45,185 ) 27,981 20,420 Total return swaps 77,225 (32,240 ) — Embedded derivative - GLWB (27,761 ) (8,526 ) 13,306 Funds withheld derivative (25,541 ) 138,227 115,540 Total derivatives related to VA contracts (86,599 ) (60,776 ) 11,098 Derivatives related to FIA contracts: Embedded derivative 35,397 (55,878 ) (16,494 ) Equity futures 330 642 4,248 Volatility futures — — — Equity options (38,885 ) 44,585 8,149 Total derivatives related to FIA contracts (3,158 ) (10,651 ) (4,097 ) Derivatives related to IUL contracts: Embedded derivative 9,062 (14,117 ) 9,529 Equity futures 261 (818 ) 129 Equity options (6,338 ) 9,580 3,477 Total derivatives related to IUL contracts 2,985 (5,355 ) 13,135 Embedded derivative - Modco reinsurance treaties 166,757 (103,009 ) 390 Derivatives with PLC (1) (902 ) 42,699 29,289 Other derivatives 14 50 (25 ) Total realized gains (losses) - derivatives $ 79,097 $ (137,042 ) $ 49,790 (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 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) (Effective Portion) Benefits and settlement expenses Realized investment gains (losses) (Dollars In Thousands) For The Year Ended December 31, 2018 Foreign currency swaps $ (812 ) $ (798 ) $ — Interest rate swaps (1,574 ) (633 ) — Total $ (2,386 ) $ (1,431 ) $ — For The Year Ended December 31, 2017 Foreign currency swaps $ (867 ) $ (694 ) $ — Total $ (867 ) $ (694 ) $ — For The Year Ended December 31, 2016 Foreign currency swaps $ 1,058 $ (60 ) $ — Total $ 1,058 $ (60 ) $ —
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: As of December 31, 2018 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Cash flow hedges: Foreign currency swaps $ — $ — $ 117,178 $ 6,016 Derivatives not designated as hedging instruments: Interest rate swaps 1,515,500 28,501 1,265,000 55,411 Total return swaps 138,070 3,971 190,938 135 Derivatives with PLC (1) 2,856,351 90,049 2,810,469 91,578 Embedded derivative - Modco reinsurance treaties 585,294 7,072 64,472 1,009 Embedded derivative - GLWB 1,919,861 54,221 2,116,935 67,879 Interest rate futures 286,208 10,302 1,071,870 3,178 Equity futures 12,633 483 62,266 154 Currency futures — — 1,117 2 Equity options 5,624,081 220,092 4,436,467 403,961 Interest rate swaptions — — 225,000 14 Other 157 136 157 200 $ 12,938,155 $ 414,827 $ 12,361,869 $ 629,537 Other liabilities Cash flow hedges: Interest rate swaps $ 350,000 $ — $ — $ — Foreign currency swaps 117,178 904 — — Derivatives not designated as hedging instruments: Interest rate swaps 775,000 11,367 597,500 2,960 Total return swaps 768,177 23,054 243,388 318 Embedded derivative - Modco reinsurance treaties 1,795,287 32,828 2,390,539 215,247 Funds withheld derivative 1,992,562 95,142 1,502,726 61,729 Embedded derivative - GLWB 4,071,322 97,528 1,939,320 83,427 Embedded derivative - FIA 2,576,033 217,288 1,951,650 218,676 Embedded derivative - IUL 233,550 90,231 168,349 80,212 Interest rate futures 863,706 20,100 230,404 917 Equity futures 659,357 33,753 318,795 2,593 Currency futures 202,747 2,163 255,248 2,087 Equity options 4,199,687 34,178 3,112,812 237,807 Other 3,288 252 — — $ 18,607,894 $ 658,788 $ 12,710,731 $ 905,973 (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 LIAB_2

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Schedule of derivative assets	The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2018 : 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 Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 263,349 $ — $ 263,349 $ 70,322 $ 99,199 $ 93,828 Total derivatives, subject to a master netting arrangement or similar arrangement 263,349 — 263,349 70,322 99,199 93,828 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 7,072 — 7,072 — — 7,072 Embedded derivative - GLWB 54,221 — 54,221 — — 54,221 Derivatives with PLC 90,049 — 90,049 — — 90,049 Other 136 — 136 — — 136 Total derivatives, not subject to a master netting arrangement or similar arrangement 151,478 — 151,478 — — 151,478 Total derivatives 414,827 — 414,827 70,322 99,199 245,306 Total Assets $ 414,827 $ — $ 414,827 $ 70,322 $ 99,199 $ 245,306 The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2017 . 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 Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 468,871 $ — $ 468,871 $ 242,105 $ 108,830 $ 117,936 Total derivatives, subject to a master netting arrangement or similar arrangement 468,871 — 468,871 242,105 108,830 117,936 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,009 — 1,009 — — 1,009 Embedded derivative - GLWB 67,879 — 67,879 — — 67,879 Derivatives with PLC 91,578 — 91,578 — — 91,578 Other 200 — 200 — — 200 Total derivatives, not subject to a master netting arrangement or similar arrangement 160,666 — 160,666 — — 160,666 Total derivatives 629,537 — 629,537 242,105 108,830 278,602 Total Assets $ 629,537 $ — $ 629,537 $ 242,105 $ 108,830 $ 278,602
Schedule of derivative liabilities	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 Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 125,519 $ — $ 125,519 $ 70,322 $ 47,856 $ 7,341 Total derivatives, subject to a master netting arrangement or similar arrangement 125,519 — 125,519 70,322 47,856 7,341 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 32,828 — 32,828 — — 32,828 Funds withheld derivative 95,142 — 95,142 — — 95,142 Embedded derivative - GLWB 97,528 — 97,528 — — 97,528 Embedded derivative - FIA 217,288 — 217,288 — — 217,288 Embedded derivative - IUL 90,231 — 90,231 — — 90,231 Other 252 — 252 — — 252 Total derivatives, not subject to a master netting arrangement or similar arrangement 533,269 — 533,269 — — 533,269 Total derivatives 658,788 — 658,788 70,322 47,856 540,610 Repurchase agreements (1) 418,090 — 418,090 — — 418,090 Total Liabilities $ 1,076,878 $ — $ 1,076,878 $ 70,322 $ 47,856 $ 958,700 (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 Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 246,682 $ — $ 246,682 $ 242,105 $ 4,577 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 246,682 — 246,682 242,105 4,577 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 215,247 — 215,247 — — 215,247 Funds withheld derivative 61,729 — 61,729 — — 61,729 Embedded derivative - GLWB 83,427 — 83,427 — — 83,427 Embedded derivative - FIA 218,676 — 218,676 — — 218,676 Embedded derivative - IUL 80,212 — 80,212 — — 80,212 Total derivatives, not subject to a master netting arrangement or similar arrangement 659,291 — 659,291 — — 659,291 Total derivatives 905,973 — 905,973 242,105 4,577 659,291 Repurchase agreements (1) 885,000 — 885,000 — — 885,000 Total Liabilities $ 1,790,973 $ — $ 1,790,973 $ 242,105 $ 4,577 $ 1,544,291 (1) Borrowings under repurchase agreements are for a term less than 90 days.

MORTGAGE LOANS (Tables)

MORTGAGE LOANS (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 : Type Percentage of Mortgage Loans on Real Estate Retail 45.0 % Office Buildings 13.2 Apartments 10.2 Warehouses 11.3 Senior housing 15.8 Other 4.5 100.0 %
Schedule of mortgage loans by location of properties	Approximately 62.5% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Florida 8.8 % Alabama 8.6 Texas 7.5 Georgia 7.3 California 7.2 Michigan 4.8 Tennessee 4.7 Utah 4.7 Ohio 4.5 North Carolina 4.4 62.5 %
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: As of December 31, 2018 2017 (Dollars In Thousands) Beginning balance $ — $ 724 Charge offs — (6,708 ) Recoveries (209 ) (731 ) Provision 1,505 6,715 Ending balance $ 1,296 $ —
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) As of December 31, 2018 Commercial mortgage loans $ 1,044 $ — $ 1,234 $ 2,278 Number of delinquent commercial mortgage loans 4 — 1 5 As of December 31, 2017 Commercial mortgage loans $ 1,817 $ — $ — $ 1,817 Number of delinquent commercial mortgage loans 2 — — 2
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) As of December 31, 2018 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 5,684 5,309 1,296 1,895 267 293 As of December 31, 2017 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded — — — — — —
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, 2018 and 2017 were as follows: Number of contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) As of December 31, 2018 Troubled debt restructuring: Commercial mortgage loans 1 $ 2,688 $ 1,742 As of December 31, 2017 Troubled debt restructuring: Commercial mortgage loans 1 $ 418 $ 418

DEFERRED POLICY ACQUISITION C_2

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Schedule of balances and changes in DAC	The balances and changes in DAC are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 843,448 $ 576,685 Capitalization of commissions, sales, and issue expenses 446,593 335,601 Amortization (133,500 ) (53,604 ) Change due to unrealized investment gains and losses 56,153 (15,234 ) Implementation of ASU 2014-09 135,919 — Balance, end of period $ 1,348,613 $ 843,448
Schedule of balances and changes in VOBA	The balances and changes in VOBA are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 1,361,953 $ 1,447,839 Acquisitions 336,862 — Amortization (92,566 ) (25,839 ) Change due to unrealized investment gains and losses 71,468 (60,047 ) Balance, end of period $ 1,677,717 $ 1,361,953
Schedule of estimated amortization of VOBA for the next five years	Based on the balance recorded as of December 31, 2018 , the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2019 $ 140,445 2020 128,876 2021 114,252 2022 104,148 2023 94,741

CERTAIN NONTRADITIONAL LONG-D_2

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2018
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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 26,934 $ 27,835 $ 29,931 Incurred guarantee benefits 11,065 (181 ) (682 ) Less: Paid guarantee benefits 3,299 720 1,414 Ending balance $ 34,700 $ 26,934 $ 27,835
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: As of December 31, 2018 2017 (Dollars In Thousands) Equity mutual funds $ 5,300,024 $ 8,914,637 Fixed income mutual funds 6,568,575 4,820,349 Total $ 11,868,599 $ 13,734,986
Schedule of activity in the Company's deferred sales inducement asset	Activity in the Company’s deferred sales inducement asset was as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Deferred asset, beginning of period $ 30,956 $ 22,497 $ 11,756 Amounts deferred 13,336 14,246 16,212 Amortization (4,715 ) (5,787 ) (5,471 ) Deferred asset, end of period $ 39,577 $ 30,956 $ 22,497

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Schedule of net life insurance in-force	The following table presents the net life insurance in-force: As of December 31, 2018 2017 (Dollars In Thousands) Direct life insurance in-force $ 765,986,223 $ 751,512,468 Amounts assumed from other companies 135,407,408 110,205,190 Amounts ceded to other companies (302,149,614 ) (328,377,398 ) Net life insurance in-force $ 599,244,017 $ 533,340,260 Percentage of amount assumed to net 23 % 21 %
Schedule of effect of reinsurance on life insurance premiums written and earned	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,573,500 $ 3,885,546 Unpaid life claim liabilities 654,077 595,188 383,620 362,833 Life and annuity future policy benefits 41,537,306 30,568,126 3,957,120 4,248,379 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 220,457 231,565 175,591 185,366 Future policy benefits and claims and associated reinsurance receivable $ 41,900,618 $ 30,956,792 $ 4,213,399 $ 4,526,075 Unearned premiums 769,620 751,130 272,630 274,816 Total policy liabilities and accruals and associated reinsurance receivable $ 42,670,238 $ 31,707,922 $ 4,486,029 $ 4,800,891 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 (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees: -1 Life insurance $ 2,681,191 $ (1,249,906 ) $ 626,283 $ 2,057,568 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 284,323 (103,478 ) 4,857 185,702 Total $ 3,012,542 $ (1,383,510 ) $ 643,966 $ 2,272,998 For The Year Ended December 31, 2017 Premiums and policy fees: Life insurance $ 2,655,846 $ (1,230,258 ) $ 435,113 $ 1,860,701 (1) Accident/health insurance 51,991 (33,052 ) 14,946 33,885 Property and liability insurance 288,809 (103,786 ) 9,657 194,680 Total $ 2,996,646 $ (1,367,096 ) $ 459,716 $ 2,089,266 For The Year Ended December 31, 2016 Premiums and policy fees: Life insurance $ 2,610,682 $ (1,207,159 ) $ 454,999 $ 1,858,522 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 242,517 (86,629 ) 5,706 161,594 Total $ 2,911,275 $ (1,330,723 ) $ 478,144 $ 2,058,696 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $80.1 million , for the years ended December 31, 2018 , 2017, and 2016, respectively.
Schedule of receivables attributable to more significant reinsurance partners	The following table sets forth the receivables attributable to our more significant reinsurance partners: As of December 31, 2018 2017 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) Security Life of Denver Insurance Company $ 722.2 A $ 740.8 A Swiss Re Life & Health America, Inc. 603.8 A+ 614.8 A+ Lincoln National Life Insurance Co. 461.1 A+ 489.1 A+ SCOR Global Life (1) 317.2 A+ 331.8 A+ Transamerica Life Insurance Co. 301.0 A+ 335.6 A+ RGA Reinsurance Company 260.5 A+ 278.3 A+ American United Life Insurance Company 242.8 A+ 266.7 A+ Centre Reinsurance (Bermuda) Ltd 197.4 NR 212.2 NR The Canada Life Assurance Company 188.2 A+ 186.1 A+ Employers Reassurance Corporation 178.4 B+ 193.9 A- (1) Includes SCOR Global Life Americas Reinsurance Company, SCOR Global Life USA Reinsurance Co, and SCOR Global Life Reinsurance Co of Delaware

DEBT AND OTHER OBLIGATIONS (Tab

DEBT AND OTHER OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Non-recourse funding obligations outstanding	Non-recourse funding obligations outstanding, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Weighted- Avg Interest Rate (Dollars In Thousands) As of December 31, 2018 Golden Gate Captive Insurance Company (2)(3) $ 1,883,000 $ 1,883,000 2039 4.75 % Golden Gate II Captive Insurance Company 329,949 273,535 2052 4.24 % Golden Gate V Vermont Captive Insurance Company (2)(3) 670,000 729,454 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,340 2024 6.19 % Total $ 2,884,040 $ 2,888,329 Issuer Outstanding Principal Carrying Value (1) Maturity Year-to-Date (Dollars In Thousands) As of December 31, 2017 Golden Gate Captive Insurance Company (3) $ 2,014,000 $ 2,014,000 2039 4.75 % Golden Gate II Captive Insurance Company 309,849 255,132 2052 1.30 % Golden Gate V Vermont Captive Insurance Company (3) 620,000 681,285 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,405 2024 6.19 % Total $ 2,944,940 $ 2,952,822 (1) Carrying values include premiums and discounts and do no represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of PLC. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of the Company. (3) Fixed rate obligations
Schedule of collateral pledged for repurchase agreements	The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2018 and December 31, 2017: 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, 2018 (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 $ 433,182 $ 18,713 $ — $ — $ 451,895 Mortgage loans — — — — — Total repurchase agreements and repurchase-to-maturity transactions $ 433,182 $ 18,713 $ — $ — $ 451,895 Securities lending transactions Fixed maturity securities 71,285 — — — 71,285 Equity securities 891 — — — 891 Redeemable preferred stock — — — — — Total securities lending transactions 72,176 — — — 72,176 Total securities $ 505,358 $ 18,713 $ — $ — $ 524,071 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, 2017 (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 $ 307,633 $ — $ — $ — $ 307,633 Mortgage loans 698,974 — — — 698,974 Total repurchase agreements and repurchase-to-maturity transactions $ 1,006,607 $ — $ — $ — $ 1,006,607 Securities lending transactions Corporate securities 118,817 — — — 118,817 Equity securities 5,699 — — — 5,699 Redeemable preferred stock 755 — — — 755 Total securities lending transactions 125,271 — — — 125,271 Total securities $ 1,131,878 $ — $ — $ — $ 1,131,878
Interest income and interest expense	Interest expense is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Millions) Subordinated funding obligations $ 2.6 $ — $ — Non-recourse funding obligations, other obligations, and repurchase agreements $ 181.9 $ 177.7 $ 170.8 Total interest expense $ 184.5 $ 177.7 $ 170.8

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments for operating leases	The following is a schedule by year of future minimum rental payments required under these leases: Year Amount (Dollars In Thousands) 2019 $ 5,454 2020 3,707 2021 3,393 2022 3,129 2023 3,171 Thereafter 5,418

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
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, 2018 and 2017: December 31, 2018 December 31, 2017 Qualified Pension Plan Nonqualified Excess Pension Plan Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) Accumulated benefit obligation, end of year $ 269,802 $ 46,299 $ 278,084 $ 50,149 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 300,423 $ 54,590 $ 265,848 $ 47,802 Service cost 13,185 1,415 12,011 1,350 Interest cost 9,830 1,436 9,846 1,480 Amendments — — — — Actuarial (gain)/loss (15,608 ) (2,001 ) 26,539 7,861 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Projected benefit obligation at end of year 288,129 47,345 300,423 54,590 Change in plan assets: Fair value of plan assets at beginning of year 260,926 — 201,843 — Actual return on plan assets (6,070 ) — 29,404 — Employer contributions (1) 18,800 8,095 43,500 3,903 Benefits paid (2) (19,701 ) (8,095 ) (13,821 ) (3,903 ) Fair value of plan assets at end of year 253,955 — 260,926 — After reflecting FASB guidance: Funded status (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in the balance sheet: Other liabilities (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in accumulated other comprehensive income: Net actuarial (gain)/loss 10,370 9,025 2,850 13,521 Prior service cost/(credit) — — — — Total amounts recognized in AOCI $ 10,370 $ 9,025 $ 2,850 $ 13,521 (1) Employer contributions are shown based on the calendar year in which contributions were made to each plan.
Schedule of weighted-average assumptions used to determine benefit obligations	Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan 2018 2017 2018 2017 Discount rate 4.21 % 3.55 % 3.93 % 3.26 % 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
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 years ended December 31, 2018 , 2017, and 2016, are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.55 % 4.04 % 4.29 % 3.25 % 3.60 % 3.63 % 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 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 Expected long-term return on plan assets 7.00 % 7.00 % 7.25 % N/A 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 years ended December 31, 2018 , 2017, and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 (Dollars In Thousands) Service cost — benefits earned during the period $ 13,185 $ 12,011 $ 12,791 $ 1,415 $ 1,350 $ 1,413 Interest cost on projected benefit obligation 9,830 9,846 9,751 1,436 1,480 1,353 Expected return on plan assets (17,058 ) (13,570 ) (13,780 ) — — — Amortization of prior service cost/(credit) — — — — — — Amortization of actuarial loss/(gain) (1) — — — 969 634 178 Preliminary net periodic benefit cost 5,957 8,287 8,762 3,820 3,464 2,944 Settlement/curtailment expense (2)(3)(4) — — (964 ) 1,526 — 2,135 Total net periodic benefit cost $ 5,957 $ 8,287 $ 7,798 $ 5,346 $ 3,464 $ 5,079 (1) 2018 average remaining service period used is 9.17 years and for the unfunded excess benefit plan was 7.73 years from January 1, 2018 to June 30, 2018 and 7.87 years from July 1, 2018 to December 31, 2018. (2) In 2016, PLC amended its Qualified Pension Plan to offer a limited-time opportunity of benefit payouts to eligible, terminated-vested participants (“lump sum window”). The lump sum window provided eligible, terminated vested participants with an option to elect to receive a lump sum settlement of his or her pension benefit in December 2016 or to elect receipt of monthly pension benefits commencing in December 2016. This event triggered settlement accounting for PLC and resulted in the recognition of $1.0 million of settlement income for the twelve months ended December 31, 2016. (3) The Nonqualified Excess Pension Plan triggered settlement accounting for the year ended December 31, 2018 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost. (4) In 2016, the Board of Directors of Protective Life Corporation approved the conversion of the accrued benefit payable under the Nonqualified Excess Pension Plan as of March 31, 2016 to John D. Johns, PLC’s Chairman and Chief Executive Officer at the time, into a lump sum amount. The lump sum amount is allocated to a book entry that will be treated as though it were a pay deferral account under PLC’s deferred compensation plan for officers. Mr. Johns will continue to accrue benefits as though he were accruing benefits under the Nonqualified Excess Pension Plan with respect to this continued service as an employee of PLC after March 31, 2016. The conversion event required PLC to re-measure the Nonqualified Excess Pension Plan as of May 31, 2016 and resulted in the recognition of $2.1 million in settlement expense during the twelve months ended December 31, 2016.
Schedule of estimated future benefit payments under defined benefit pension plan	Estimated future benefit payments under the Qualified Pension Plan and Nonqualified Excess Pension Plan are as follows: Years Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) 2019 $ 19,544 $ 6,788 2020 20,723 5,196 2021 21,153 5,286 2022 22,538 5,583 2023 22,765 4,754 2024 - 2028 120,355 19,586
Schedule of allocation of plan assets by category	Allocation of plan assets of the Qualified Pension Plan by category as of December 31, 2017 are as follows: Asset Category Target 2017 (1) Cash and cash equivalents 2 % 15 % Equity securities 60 55 Fixed income 38 30 Total 100 % 100 % (1) During 2017, PLC made a $43.5 million contribution to the defined benefit pension plan and allocated the contribution to cash and cash equivalents pending further analysis of its investment strategy. The plan’s investment policy was amended to allow for an actual asset allocation outside of the current target allocation until the investment strategy analysis was complete. Allocation of plan assets of the defined benefit pension plan by category, as of December 31, 2018 are as follows: Asset Category Target Allocation for 2018 2018 Return-Seeking 60 % 61 % Liability-Hedging Fixed Income 40 39 Total 100 % 100 %
Schedule of fair value of plan assets by category	Plan assets of the Qualified Pension Plan by category as of December 31, 2018 and 2017 are as follows: As of December 31, Asset Category 2018 2017 (Dollars In Thousands) Cash and cash equivalents $ 1,225 $ 39,897 Equity securities: Collective Russell 3000 equity index fund 70,599 74,511 Fidelity Spartan 500 index fund 46,300 71,632 Northern Trust ACWI ex-US Fund 41,924 — Liability-hedging fixed income: Group Deposit Administration Annuity Contract 78,707 74,886 BlackRock Long Government Credit Bond Index Fund 15,200 — Total investments 253,955 260,926 Employer contribution receivable — — Total $ 253,955 $ 260,926
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 Qualified Pension Plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 1,225 $ — $ — $ 1,225 Equity securities 158,823 — — 158,823 Fixed income 15,200 — — 15,200 Group deposit administration annuity contract — — 78,707 78,707 Total investments $ 175,248 $ — $ 78,707 $ 253,955 The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 39,897 $ — $ — $ 39,897 Equity securities 146,143 — — 146,143 Group deposit administration annuity contract — — 74,886 74,886 Total investments $ 186,040 $ — $ 74,886 $ 260,926 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 4,854 $ — $ — $ 4,854 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,104 $ — $ — $ 5,104
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 year ended December 31, 2018 and for the year ended December 31, 2017 for which PLC has used significant unobservable inputs (Level 3): December 31, 2018 December 31, 2017 (Dollars In Thousands) Balance, beginning of year $ 74,886 $ 71,226 Interest income 3,821 3,660 Transfers from collective short-term investments fund — — Transfers to collective short-term investments fund — — Balance, end of year $ 78,707 $ 74,886
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, 2018 : Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 78,707 Contract Value Contract Rate 5.06% - 5.14%
Schedule of accumulated postretirement benefit obligation	The benefit obligation associated with these benefits is as follows: As of December 31, Postretirement Life Insurance Plan 2018 2017 (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 10,978 $ 9,634 Service cost 153 122 Interest cost 366 354 Actuarial (gain)/loss (1,045 ) 1,347 Benefits paid (440 ) (479 ) Benefit obligation, end of year $ 10,012 $ 10,978

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017, and 2016. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss on Derivatives Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Balance, December 31, 2015 $ (1,246,391 ) $ — $ (1,246,391 ) Other comprehensive income (loss) before reclassifications 602,074 688 602,762 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (2,008 ) — (2,008 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (9,442 ) 39 (9,403 ) Balance, December 31, 2016 $ (655,767 ) $ 727 $ (655,040 ) Other comprehensive income (loss) before reclassifications 705,859 (563 ) 705,296 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 391 — 391 Amounts reclassified from accumulated other comprehensive income (loss) (1) (944 ) 451 (493 ) Cumulative effect adjustments (26,470 ) 132 (26,338 ) Balance, December 31, 2017 $ 23,069 $ 747 $ 23,816 Other comprehensive income (loss) before reclassifications (1,411,674 ) (1,884 ) (1,413,558 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (20,751 ) — (20,751 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 15,699 1,130 16,829 Cumulative effect adjustments (10,552 ) — (10,552 ) Balance, December 31, 2018 $ (1,404,209 ) $ (7 ) $ (1,404,216 ) (1) See Reclassification table below for details. (2) As of December 31, 2015, 2016, 2017 and 2018, net unrealized losses reported in AOCI were offset by $623.0 million , $424.1 million , $(6.3) million and $613.4 million , respectively, 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 tables summarize the reclassifications amounts out of AOCI for the years ended December 31, 2018, 2017, and 2016. Gains/(losses) in net income: Affected Line Item in the Consolidated Statements of Income For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivative instruments Benefits and settlement expenses, net of reinsurance ceded (1) $ (1,431 ) $ (694 ) $ (60 ) Tax (expense) benefit 301 243 21 $ (1,130 ) $ (451 ) $ (39 ) Unrealized gains and losses on available-for-sale securities Realized investment gains (losses): All other investments $ 9,851 $ 10,453 $ 32,275 Net impairment losses recognized in earnings (29,724 ) (9,112 ) (17,748 ) Tax (expense) or benefit 4,174 (397 ) (5,085 ) $ (15,699 ) $ 944 $ 9,442 (1) See Note 7, Derivative Financial Instruments for additional information

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
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: For The Year Ended December, 31 2018 2017 2016 Statutory federal income tax rate applied to pre-tax income 21.0 % 35.0 % 35.0 % State income taxes 4.2 0.3 0.6 Investment income not subject to tax (4.5 ) (4.7 ) (3.1 ) Prior period adjustments 1.6 (1.1 ) (1.6 ) Federal Tax law changes — (184.8 ) — Other (0.6 ) 0.5 1.6 21.7 % (154.8 )% 32.5 %
Schedule of components of income tax	The components of the Company’s income tax are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Current income tax expense: Federal $ 113,925 $ 39,042 $ (41,244 ) State 9,699 (2,477 ) 2,581 Total current $ 123,624 $ 36,565 $ (38,663 ) Deferred income tax expense: Federal $ (73,364 ) $ (757,748 ) $ 204,810 State 3,401 2,774 3,926 Total deferred $ (69,963 ) $ (754,974 ) $ 208,736
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: As of December 31, 2018 2017 (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ 120,128 $ 240,419 Deferred compensation 58,533 64,677 Deferred policy acquisition costs 113,959 23,113 Premium on non-recourse funding obligations 905 1,666 Net unrealized loss on investments 373,292 — Valuation allowance (1,589 ) (3,682 ) 665,228 326,193 Deferred income tax liabilities: Premium receivables and policy liabilities 339,555 538,465 VOBA and other intangibles 478,561 433,371 Invested assets (other than unrealized gains (losses)) 720,108 701,070 Net unrealized gains on investments — 6,175 Other 25,343 19,101 1,563,567 1,698,182 Net deferred income tax liability $ (898,339 ) $ (1,371,989 )
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: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Balance, beginning of period $ 11,353 $ 9,856 $ 8,937 Additions for tax positions of the current year — 1,857 2,122 Additions for tax positions of prior years — 70 1,318 Reductions of tax positions of prior years: Changes in judgment (4,219 ) (430 ) (975 ) Settlements during the period — — (1,546 ) Lapses of applicable statute of limitations — — — Balance, end of period $ 7,134 $ 11,353 $ 9,856

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	The following table sets forth supplemental cash flow information: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash paid / (received) during the year: Interest expense $ 186,295 $ 178,787 $ 142,463 Income taxes 11,703 20,507 127,615

STATUTORY REPORTING PRACTICES_2

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2018
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 and its statutory surplus, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2018 2017 (Dollars In Millions) Non-admission of goodwill $ (181 ) $ (219 ) Total (net) $ (181 ) $ (219 )
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, 2018 2017 (Dollars In Millions) Accounting for Letters of Credit as admitted assets $ 1,630 $ 1,670 Accounting for certain notes as admitted assets $ 2,553 $ 2,634 Reserving based on state specific actuarial practices $ 121 $ 122 Reserving difference related to a captive insurance company $ (50 ) $ (37 )

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summary of financial information for the Company's segments	The following tables present a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Life Marketing $ 1,567,857 $ 1,556,207 $ 1,517,542 Acquisitions 2,027,195 1,569,083 1,676,017 Annuities 478,114 486,847 547,512 Stable Value Products 219,501 190,006 114,580 Asset Protection 355,501 370,449 306,237 Corporate and Other 110,848 140,075 131,821 Total revenues $ 4,759,016 $ 4,312,667 $ 4,293,709 Pre-tax Adjusted Operating Income (Loss) Life Marketing $ (13,726 ) $ 55,152 $ 41,457 Acquisitions 282,715 249,749 260,511 Annuities 129,155 171,269 174,362 Stable Value Products 102,328 105,261 61,294 Asset Protection 24,371 17,638 11,309 Corporate and Other (156,722 ) (189,645 ) (161,820 ) Pre-tax adjusted operating income 368,121 409,424 387,113 Realized gains (losses) on investments and derivatives (120,533 ) 54,584 135,568 Income before income tax 247,588 464,008 522,681 Income tax expense (benefit) 53,661 (718,409 ) 170,073 Net income $ 193,927 $ 1,182,417 $ 352,608 Pre-tax adjusted operating income $ 368,121 $ 409,424 $ 387,113 Adjusted operating income tax (expense) benefit (78,973 ) 737,513 (122,624 ) After-tax adjusted operating income 289,148 1,146,937 264,489 Realized gains (losses) on investments and derivatives (120,533 ) 54,584 135,568 Income tax benefit (expense) on adjustments 25,312 (19,104 ) (47,449 ) Net income $ 193,927 $ 1,182,417 $ 352,608 Realized investment (losses) gains: Derivative financial instruments $ 79,097 $ (137,041 ) $ 49,790 All other investments (223,276 ) 121,087 90,630 Net impairment losses recognized in earnings (29,724 ) (9,112 ) (17,748 ) Less: related amortization (1) (11,856 ) (39,480 ) 24,360 Less: VA GLWB economic cost (41,514 ) (40,170 ) (37,256 ) Realized (losses) gains on investments and derivatives $ (120,533 ) $ 54,584 $ 135,568 (1) Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses). For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Net investment income Life Marketing $ 552,697 $ 550,714 $ 523,989 Acquisitions 1,108,218 752,520 764,571 Annuities 335,382 316,582 318,511 Stable Value Products 217,778 186,576 107,010 Asset Protection 25,070 22,298 17,591 Corporate and Other 99,757 94,366 91,791 Total net investment income $ 2,338,902 $ 1,923,056 $ 1,823,463 Amortization of DAC and VOBA Life Marketing $ 116,917 $ 120,753 $ 130,708 Acquisitions 18,690 (6,939 ) 8,178 Annuities 24,274 (54,471 ) (11,031 ) Stable Value Products 3,201 2,354 1,176 Asset Protection 62,984 17,746 21,267 Corporate and Other — — — Total amortization of DAC and VOBA $ 226,066 $ 79,443 $ 150,298 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,607,822 $ 31,859,520 $ 20,160,279 $ 5,107,334 DAC and VOBA 1,499,386 458,977 889,697 6,121 Other intangibles 262,181 31,975 156,785 7,389 Goodwill 215,254 23,862 343,247 113,924 Total assets $ 16,584,643 $ 32,374,334 $ 21,550,008 $ 5,234,768 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 827,416 $ 12,356,003 $ 84,918,374 DAC and VOBA 172,149 — 3,026,330 Other intangibles 122,590 31,934 612,854 Goodwill 129,224 — 825,511 Total assets $ 1,251,379 $ 12,387,937 $ 89,383,069 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,917,752 $ 19,588,133 $ 20,774,566 $ 4,569,639 DAC and VOBA 1,320,776 74,862 772,634 6,864 Other intangibles 281,705 34,548 170,117 8,056 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 16,720,507 $ 19,712,067 $ 22,053,994 $ 4,698,372 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 708,605 $ 14,893,253 $ 75,451,948 DAC and VOBA 30,265 — 2,205,401 Other intangibles 133,234 35,256 662,916 Goodwill 128,182 — 793,470 Total assets $ 1,000,286 $ 14,928,509 $ 79,113,735

CONSOLIDATED QUARTERLY RESULT_2

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited consolidated quarterly operating data	First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees $ 883,413 $ 935,928 $ 871,892 $ 965,275 Reinsurance ceded (345,624 ) (391,864 ) (267,910 ) (378,112 ) Net of reinsurance ceded 537,789 544,064 603,982 587,163 Net investment income 489,418 578,414 631,955 639,115 Realized investment gains (losses) (40,725 ) (32,583 ) (46,866 ) (24,005 ) Net impairment losses recognized in earnings (3,645 ) (5 ) (14 ) (26,060 ) Other income 80,674 79,754 80,906 79,685 Total revenues 1,063,511 1,169,644 1,269,963 1,255,898 Total benefits and expenses 1,041,575 1,108,750 1,174,793 1,186,310 Income before income tax 21,936 60,894 95,170 69,588 Income tax expense 3,661 8,626 16,646 24,728 Net income $ 18,275 $ 52,268 $ 78,524 $ 44,860 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2017 Premiums and policy fees $ 855,579 $ 862,906 $ 849,743 $ 888,134 Reinsurance ceded (319,055 ) (344,208 ) (326,572 ) (377,261 ) Net of reinsurance ceded 536,524 518,698 523,171 510,873 Net investment income 474,709 475,722 477,011 495,614 Realized investment gains (losses) (38,059 ) (10,259 ) 23,452 8,912 Net impairment losses recognized in earnings (5,201 ) (2,785 ) (273 ) (853 ) Other income 79,383 82,087 82,031 81,910 Total revenues 1,047,356 1,063,463 1,105,392 1,096,456 Total benefits and expenses 960,712 930,177 939,410 1,018,360 Income before income tax 86,644 133,286 165,982 78,096 Income tax expense 28,305 43,654 49,016 (839,384 ) Net income $ 58,339 $ 89,632 $ 116,966 $ 917,480

BASIS OF PRESENTATION Narrative

BASIS OF PRESENTATION Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Goodwill	$ 825,511	$ 793,470
Additional paid-in-capital	7,410,537	$ 7,378,496
Adjustment Pertaining To Tax Deductibility Following Dai-ichi Acquisition | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Goodwill	32,000
Additional paid-in-capital	$ 32,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)primary_source	Dec. 31, 2018USD ($)input_method	Dec. 31, 2017USD ($)
Valuation of investment securities
Number of primary sources of information used for determining fair value | primary_source	1
Total number of primary sources of information available for determining fair value	3	3
Cash
Negative balances due to outstanding checks and drafts | $	$ 153.3	$ 153.3	$ 132.7
Minimum
Deferred Policy Acquisition Costs
Interest rate assumptions to compute liabilities for future policy benefits	1.00%	1.00%
Maximum
Deferred Policy Acquisition Costs
Interest rate assumptions to compute liabilities for future policy benefits	7.10%	7.10%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 580,854	$ 630,916
Total intangible assets	$ 612,854	662,916
Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	3 years
Distribution relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 377,441	402,975
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	78,629	85,340
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	93,433	107,343
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 31,351	35,258
Minimum | Distribution relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	14 years
Minimum | Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	13 years
Minimum | Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	7 years
Maximum | Distribution relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	22 years
Maximum | Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	17 years
Maximum | Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	14 years
Insurance licenses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 32,000	$ 32,000

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Future Estimated Aggregate Amortization Expense (Details) $ in Thousands	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
2019	$ 55,220
2020	52,219
2021	49,614
2022	46,356
2023	$ 45,056

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property and Equipment
Total property and equipment, gross	$ 189,912	$ 106,096
Accumulated depreciation	(30,989)	(21,305)
Land	24,920	24,920
Total property and equipment	$ 183,843	109,711
Home office building
Property and Equipment
Useful life	25 years
Total property and equipment, gross	$ 144,669	68,123
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	4 years
Data processing equipment
Property and Equipment
Total property and equipment, gross	$ 28,793	24,102
Other, principally furniture and equipment
Property and Equipment
Total property and equipment, gross	$ 16,450	$ 13,871

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stable Value Product Account Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summarized financial information for the company's segments
Stable value product account balances marketed through structured programs	$ 4,083.8	$ 3,337.9
Future maturities of stable value products
2019	1,253.9
2020 - 2021	3,042.5
2022 - 2023	818.7
Thereafter	$ 118.7
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	12 years

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Guaranteed Living Withdrawal Benefits (Details) $ in Millions	Dec. 31, 2018USD ($)
Variable annuity | Guaranteed living withdrawal benefits (GLWB)
Guaranteed Minimum Withdrawal Benefits
Guaranteed living withdrawal benefits liability held, net	$ 43.3

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Future Policy Benefit Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Future policy benefits	$ 41,900,618	$ 30,956,792
Unearned premiums	769,620	751,130
Total policy liabilities and accruals	42,670,238	31,707,922
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Future policy benefits	4,213,399	4,526,075
Unearned premiums	272,630	274,816
Total policy liabilities and accruals and associated reinsurance receivable	4,486,029	4,800,891
Life and Annuity Insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Benefit reserves	40,883,229	29,972,938
Future policy benefits	41,537,306	30,568,126
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Benefit reserves	3,573,500	3,885,546
Future policy benefits	3,957,120	4,248,379
Life insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Unpaid claim liabilities	654,077	595,188
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Unpaid claim liabilities	383,620	362,833
Other Insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Benefit reserves	142,855	157,101
Unpaid claim liabilities	220,457	231,565
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Benefit reserves	80,688	92,330
Unpaid claim liabilities	$ 175,591	$ 185,366

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Traditional Life, Health, and Credit Insurance Products & Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Minimum
Liability for unpaid claims and claims adjustment expense
Interest rate assumptions to compute liabilities for future policy benefits	1.00%
Maximum
Liability for unpaid claims and claims adjustment expense
Interest rate assumptions to compute liabilities for future policy benefits	7.10%
Traditional Life Insurance | Minimum
Liability for unpaid claims and claims adjustment expense
Interest rate assumptions to compute liabilities for future policy benefits	2.00%
Traditional Life Insurance | Maximum
Liability for unpaid claims and claims adjustment expense
Interest rate assumptions to compute liabilities for future policy benefits	5.50%
Universal Life | Minimum
Liability for unpaid claims and claims adjustment expense
Interest rate credited to policy account balances	1.00%
Universal Life | Maximum
Liability for unpaid claims and claims adjustment expense
Interest rate credited to policy account balances	8.75%
Investments Product Line | Minimum
Liability for unpaid claims and claims adjustment expense
Interest rate credited to policy account balances	0.19%
Investments Product Line | Maximum
Liability for unpaid claims and claims adjustment expense
Interest rate credited to policy account balances	11.25%
Variable annuity | Guaranteed minimum death benefits (GMDB)
Liability for unpaid claims and claims adjustment expense
Impact of reinsurance	$ 34,700	$ 26,934	$ 27,835	$ 29,931

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,031,465				$ 916,971				$ 1,031,465	$ 916,971
Cumulative effect adjustments													$ (89,985)
Statement of Financial Position [Abstract]
Deferred policy acquisition costs and value of business acquired	3,026,330				2,205,401				3,026,330	2,205,401	$ 2,024,524
Other liabilities	1,939,718				1,859,254				1,939,718	1,859,254
Income Statement [Abstract]
Other income	79,685	$ 80,906	$ 79,754	$ 80,674	$ 81,910	$ 82,031	$ 82,087	$ 79,383	321,019	325,411	288,878
Amortization of deferred policy acquisition costs and value of business acquired									226,066	79,443	150,298
Other operating expenses, net of reinsurance ceded									774,110	$ 814,211	$ 744,004
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													(79,433)
Accounting Standards Update 2014-09 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													(90,000)
Accounting Standards Update 2016-01 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													10,600
Accounting Standards Update 2016-02 | Scenario, Forecast
Income Statement [Abstract]
Right-of-use asset												$ 21,500
Lease liability												21,500
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings													$ (90,000)
Calculated under Revenue Guidance in Effect before Topic 606 | Accounting Standards Update 2014-09
Statement of Financial Position [Abstract]
Deferred policy acquisition costs and value of business acquired	2,887,300								2,887,300
Other liabilities	$ 1,683,300								1,683,300
Income Statement [Abstract]
Other income									322,100
Amortization of deferred policy acquisition costs and value of business acquired									178,100
Other operating expenses, net of reinsurance ceded									$ 825,100
Subsequent Event | Accounting Standards Update 2017-08 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments												$ (50,800)

SIGNIFICANT TRANSACTIONS - Narr

SIGNIFICANT TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	May 01, 2018
Insurance [Abstract]
Coinsurance basis percentage		100.00%
Ceded commissions for reinsurance		$ 422.4
Aggregate statutory reserves for reinsurance agreement		$ 13,200
Life Business
Business Combination Segment Allocation [Line Items]
Revenue recognized in earnings	$ 578
Net Income recognized in earnings	49.8
Non-recurring transaction costs	$ 5.5

SIGNIFICANT TRANSACTIONS - USWC

SIGNIFICANT TRANSACTIONS - USWC Holding Company Acquisition (Details) - Life Business - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	May 01, 2018
Assets
Fixed maturities			$ 12,588,512
Mortgage loans			435,405
Policy loans			131,489
Total investments			13,155,406
Cash			38,456
Accrued investment income			152,030
Reinsurance receivables			272
Value of business acquired			336,862
Other assets			916
Total assets			13,683,942
Liabilities
Future policy benefits and claims			11,747,501
Unearned premiums			0
Total policy liabilities and accruals			11,747,501
Annuity account balances			1,823,444
Other policyholders’ funds			41,936
Other liabilities			71,061
Total liabilities			13,683,942
Net assets acquired			$ 0
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 5,082,755	$ 5,548,132
Net Income	$ 240,071	$ 1,309,876

MONY CLOSED BLOCK OF BUSINESS_2

MONY CLOSED BLOCK OF BUSINESS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities				$ 5,679,732	$ 5,791,867
Policyholder dividend obligation	$ 160,712	$ 31,932	$ 31,932	0	160,712
Other liabilities				22,505	30,764
Total closed block liabilities				5,702,237	5,983,343
Closed block assets
Fixed maturities, available-for-sale, at fair value				4,257,437	4,669,856
Mortgage loans on real estate				75,838	108,934
Policy loans				672,213	700,769
Cash and other invested assets				116,225	31,182
Other assets				136,388	122,637
Total closed block assets				5,258,101	5,633,378
Excess of reported closed block liabilities over closed block assets				444,136	349,965
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820				(120,528)	0
Future earnings to be recognized from closed block assets and closed block liabilities				$ 323,608	$ 349,965
Policyholder dividend obligation	(141,128)	(13,429)
Policyholder dividend obligation, deferred income tax	(61,676)	(2,820)
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, beginning balance	160,712	31,932
Applicable to net revenue (losses)	(33,014)	(55,241)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	(127,698)	184,021
Policyholder dividend obligation, ending balance	0	160,712	31,932
Revenues
Premiums and other income	171,117	180,097	189,700
Net investment income	202,282	203,964	211,175
Net investment gains	(1,970)	910	1,524
Total revenues	371,429	384,971	402,399
Benefits and other deductions
Benefits and settlement expenses	337,352	335,200	353,488
Other operating expenses	714	1,940	2,804
Total benefits and other deductions	338,066	337,140	356,292
Net revenues before income taxes	33,363	47,831	46,107
Income tax expense	7,006	27,718	16,137
Net revenues	$ 26,357	$ 20,113	$ 29,970

INVESTMENT OPERATIONS - Summary

INVESTMENT OPERATIONS - Summary of Major Categories of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									$ 2,506,125	$ 2,066,346	$ 1,959,064
Other investment expenses									167,223	143,290	135,601
Net investment income	$ 639,115	$ 631,955	$ 578,414	$ 489,418	$ 495,614	$ 477,011	$ 475,722	$ 474,709	2,338,902	1,923,056	1,823,463
Fixed maturities
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									2,043,183	1,610,768	1,547,346
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									35,282	40,506	38,838
Mortgage loans
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									322,206	298,387	270,749
Investment real estate
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									1,778	2,405	2,152
Short-term investments
Debt and Equity Securities, FV-NI [Line Items]
Investment income before other investment expenses									$ 103,676	$ 114,280	$ 99,979

INVESTMENT OPERATIONS - Schedul

INVESTMENT OPERATIONS - Schedule of Investment Gains (Losses) for All Other Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net realized gains (losses) for all other investments
Fixed maturities	$ 9,851	$ 12,783	$ 32,183
Equity gains and losses	(49,275)	(2,330)	92
Impairments	(29,724)	(9,112)	(17,748)
Modco trading portfolio	(185,900)	119,206	67,583
Other investments	2,048	(8,572)	(9,228)
Total realized gains (losses) - investments	$ (253,000)	$ 111,975	$ 72,882

INVESTMENT OPERATIONS - Sched_2

INVESTMENT OPERATIONS - Schedule of Gross Realized Gains and Losses on Available-for-Sale Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 28,034	$ 18,868	$ 42,058
Gross realized losses
Impairments losses	(29,724)	(9,112)	(17,748)
Other realized losses	$ (18,183)	$ (8,257)	$ (9,783)

INVESTMENT OPERATIONS - Sched_3

INVESTMENT OPERATIONS - Schedule of Fair Value (Proceeds) and Gains/Losses Realized on Securities Sold in an Unrealized Gail/Loss Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Securities in an unrealized gain position:
Fair value (proceeds)	$ 1,291,826	$ 879,181	$ 1,194,808
Gains realized	28,034	18,868	42,058
Securities in an unrealized loss position:
Fair value (proceeds)	472,371	185,157	85,835
Losses realized	$ (18,183)	$ (8,257)	$ (9,783)

INVESTMENT OPERATIONS - Sched_4

INVESTMENT OPERATIONS - Schedule of Realized Gain (Losses) on Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Net gains (losses) recognized during the period on equity securities	$ (49,275)	$ (2,330)	$ 92
Less: net gains (losses) recognized on equity securities sold during the period	(6,165)
Gains (losses) recognized during the period on equity securities still held	$ (43,110)

INVESTMENT OPERATIONS - Amortiz

INVESTMENT OPERATIONS - Amortized Cost and Fair Value of Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Trading securities:
Amortized Cost	$ 52,452,334	$ 39,455,935
Gross Unrealized Gains	188,621	712,957
Gross Unrealized Losses	(2,742,547)	(680,458)
Fair Value	49,898,408	39,488,434
Total OTTI Recognized in OCI	(28,827)	(2,559)
Residential mortgage-backed securities
Trading securities:
Amortized Cost	3,641,678	2,321,811
Gross Unrealized Gains	23,248	19,412
Gross Unrealized Losses	(61,935)	(22,730)
Fair Value	3,602,991	2,318,493
Total OTTI Recognized in OCI	(18)	41
Commercial mortgage-backed securities
Trading securities:
Amortized Cost	2,319,476	1,885,109
Gross Unrealized Gains	3,911	4,931
Gross Unrealized Losses	(57,000)	(29,552)
Fair Value	2,266,387	1,860,488
Total OTTI Recognized in OCI	0	0
Other asset-backed securities
Trading securities:
Amortized Cost	1,410,059	1,234,376
Gross Unrealized Gains	17,232	20,936
Gross Unrealized Losses	(35,398)	(5,763)
Fair Value	1,391,893	1,249,549
Total OTTI Recognized in OCI	0	0
U.S. government-related securities
Trading securities:
Amortized Cost	1,658,433	1,255,244
Gross Unrealized Gains	1,794	185
Gross Unrealized Losses	(45,722)	(32,177)
Fair Value	1,614,505	1,223,252
Total OTTI Recognized in OCI	0	0
Other government-related securities
Trading securities:
Amortized Cost	543,534	280,780
Gross Unrealized Gains	4,292	9,401
Gross Unrealized Losses	(33,790)	(4,948)
Fair Value	514,036	285,233
Total OTTI Recognized in OCI	0	0
States, municipals, and political subdivisions
Trading securities:
Amortized Cost	3,682,037	1,770,299
Gross Unrealized Gains	25,706	16,959
Gross Unrealized Losses	(118,902)	(45,613)
Fair Value	3,588,841	1,741,645
Total OTTI Recognized in OCI	876	(37)
Corporate securities
Trading securities:
Amortized Cost	38,467,380	29,446,365
Gross Unrealized Gains	112,438	618,582
Gross Unrealized Losses	(2,378,240)	(527,401)
Fair Value	36,201,578	29,537,546
Total OTTI Recognized in OCI	(29,685)	(2,563)
Redeemable preferred stock
Trading securities:
Amortized Cost	94,362	94,362
Gross Unrealized Gains	0	232
Gross Unrealized Losses	(11,560)	(3,503)
Fair Value	82,802	91,091
Total OTTI Recognized in OCI	0	0
Fixed Maturities
Trading securities:
Amortized Cost	51,816,959	38,288,346
Gross Unrealized Gains	188,621	690,638
Gross Unrealized Losses	(2,742,547)	(671,687)
Fair Value	49,263,033	38,307,297
Total OTTI Recognized in OCI	(28,827)	(2,559)
Equity securities
Trading securities:
Amortized Cost		696,706
Gross Unrealized Gains		22,319
Gross Unrealized Losses		(8,771)
Fair Value		710,254
Total OTTI Recognized in OCI		0
Short-term investments
Trading securities:
Amortized Cost	635,375	470,883
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	635,375	470,883
Total OTTI Recognized in OCI	$ 0	$ 0

INVESTMENT OPERATIONS - Sched_5

INVESTMENT OPERATIONS - Schedule of Fair Value of Trading Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	$ 2,457,010	$ 2,725,694
Residential mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	241,836	259,694
Commercial mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	188,925	146,804
Other asset-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	159,907	138,097
U.S. government-related securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	59,794	27,234
Other government-related securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	44,207	63,925
States, municipals, and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	286,413	326,925
Corporate securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	1,423,833	1,698,183
Redeemable preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	11,277	3,327
Fixed Maturities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	2,416,192	2,664,189
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	9,892	5,244
Short-term investments
Debt and Equity Securities, FV-NI [Line Items]
Fixed maturity securities - trading	$ 30,926	$ 56,261

INVESTMENT OPERATIONS - Sched_6

INVESTMENT OPERATIONS - Schedule of Amortized Cost and Fair Value of Investments Classified as Held-to-Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale Amortized Cost
Amortized Cost	$ 52,452,334	$ 39,455,935
Available-for-sale Fair Value
Fair Value	49,898,408	39,488,434
Held-to-maturity, Amortized Cost
Amortized Cost	2,633,474	2,718,904
Held-to-maturity, Fair Value
Fair Value	2,547,210	2,776,327
Fixed Maturities
Available-for-sale Amortized Cost
Due in one year or less	1,121,731
Due after one year through five years	9,255,369
Due after five years through ten years	9,037,543
Due after ten years	32,402,316
Amortized Cost	51,816,959
Available-for-sale Fair Value
Due in one year or less	1,117,140
Due after one year through five years	9,102,884
Due after five years through ten years	8,790,872
Due after ten years	30,252,137
Fair Value	49,263,033
Held-to-maturity, Amortized Cost
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	2,633,474
Amortized Cost	2,633,474
Held-to-maturity, Fair Value
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	2,547,210
Fair Value	$ 2,547,210	$ 2,776,327

INVESTMENT OPERATIONS - Summa_2

INVESTMENT OPERATIONS - Summary of Other-than-Temporary Impairments of Investments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investment Holdings [Line Items]
Other-than-temporary impairments									$ (56,578)	$ (1,332)	$ (32,075)
Non-credit impairment losses recorded in other comprehensive income									26,854	(7,780)	14,327
Net impairment losses recognized in earnings	$ (26,060)	$ (14)	$ (5)	$ (3,645)	$ (853)	$ (273)	$ (2,785)	$ (5,201)	(29,724)	(9,112)	(17,748)
Fixed Maturities
Investment Holdings [Line Items]
Other-than-temporary impairments									(56,578)	(1,332)	(32,075)
Non-credit impairment losses recorded in other comprehensive income									26,854	(7,780)	14,327
Net impairment losses recognized in earnings									(29,724)	(9,112)	(17,748)
Equity securities
Investment Holdings [Line Items]
Other-than-temporary impairments									0	0	0
Non-credit impairment losses recorded in other comprehensive income									0	0	0
Net impairment losses recognized in earnings									$ 0	$ 0	$ 0

INVESTMENT OPERATIONS - Summa_3

INVESTMENT OPERATIONS - Summary of Available-for-Sale Credit Losses on Fixed Maturities (Details) - Fixed Maturities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance	$ 3,268	$ 12,685	$ 22,761
Additions for newly impaired securities	24,858	734	14,876
Additions for previously impaired securities	12	3,175	2,063
Reductions for previously impaired securities due to a change in expected cash flows	0	(12,726)	(24,396)
Reductions for previously impaired securities that were sold in the current period	(3,270)	(600)	(2,619)
Ending balance	$ 24,868	$ 3,268	$ 12,685

INVESTMENT OPERATIONS - Sched_7

INVESTMENT OPERATIONS - Schedule of Gross Unrealized Losses and Fair Value of Investments Not Deemed to be Other-Than-Temporary (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value
Less Than 12 Months	$ 22,217,328	$ 7,026,657
12 Months or More	17,562,380	14,598,554
Total	39,779,708	21,625,211
Unrealized Loss
Less Than 12 Months	(1,088,010)	(79,273)
12 Months or More	(1,654,537)	(601,185)
Total	(2,742,547)	(680,458)
Residential mortgage-backed securities
Fair Value
Less Than 12 Months	1,485,009	765,641
12 Months or More	795,765	408,460
Total	2,280,774	1,174,101
Unrealized Loss
Less Than 12 Months	(31,302)	(9,666)
12 Months or More	(30,633)	(13,064)
Total	(61,935)	(22,730)
Commercial mortgage-backed securities
Fair Value
Less Than 12 Months	419,420	750,643
12 Months or More	1,405,690	779,086
Total	1,825,110	1,529,729
Unrealized Loss
Less Than 12 Months	(7,398)	(8,521)
12 Months or More	(49,602)	(21,031)
Total	(57,000)	(29,552)
Other asset-backed securities
Fair Value
Less Than 12 Months	687,271	86,506
12 Months or More	148,871	134,316
Total	836,142	220,822
Unrealized Loss
Less Than 12 Months	(30,963)	(322)
12 Months or More	(4,435)	(5,441)
Total	(35,398)	(5,763)
U.S. government-related securities
Fair Value
Less Than 12 Months	130,290	94,110
12 Months or More	1,085,654	1,072,232
Total	1,215,944	1,166,342
Unrealized Loss
Less Than 12 Months	(4,668)	(688)
12 Months or More	(41,054)	(31,489)
Total	(45,722)	(32,177)
Other government-related securities
Fair Value
Less Than 12 Months	224,273	24,830
12 Months or More	131,569	115,294
Total	355,842	140,124
Unrealized Loss
Less Than 12 Months	(15,207)	(169)
12 Months or More	(18,583)	(4,779)
Total	(33,790)	(4,948)
States, municipals, and political subdivisions
Fair Value
Less Than 12 Months	1,004,262	170,268
12 Months or More	1,129,152	1,027,747
Total	2,133,414	1,198,015
Unrealized Loss
Less Than 12 Months	(27,180)	(1,738)
12 Months or More	(91,722)	(43,875)
Total	(118,902)	(45,613)
Corporate securities
Fair Value
Less Than 12 Months	18,225,656	5,026,417
12 Months or More	12,824,024	10,947,027
Total	31,049,680	15,973,444
Unrealized Loss
Less Than 12 Months	(966,825)	(55,649)
12 Months or More	(1,411,415)	(471,752)
Total	(2,378,240)	(527,401)
Redeemable preferred stock
Fair Value
Less Than 12 Months	41,147	22,048
12 Months or More	41,655	23,197
Total	82,802	45,245
Unrealized Loss
Less Than 12 Months	(4,467)	(1,120)
12 Months or More	(7,093)	(2,383)
Total	$ (11,560)	(3,503)
Equities
Fair Value
Less Than 12 Months		86,194
12 Months or More		91,195
Total		177,389
Unrealized Loss
Less Than 12 Months		(1,400)
12 Months or More		(7,371)
Total		$ (8,771)

INVESTMENT OPERATIONS - Narrati

INVESTMENT OPERATIONS - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)positionreinsurer	Dec. 31, 2017USD ($)reinsurer
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	$ 1,654,537,000	$ 601,185,000
Minimum percentage of underlying collateral guaranteed by third party	97.00%
Number of positions | position	4,005
Fair Value	$ 49,898,408,000	39,488,434,000
Available-for-sale securities, amortized cost	52,452,334,000	39,455,935,000
Securities in trading portfolio	2,457,010,000	2,725,694,000
Non-income producing investments	140,500,000
Policy loans	$ 1,695,886,000	1,615,615,000
Interest rate on collateral loans on life insurance policies (as a percent)	13.64%
Minimum
Available-for-sale securities
Interest rate on standard policy loans (as a percent)	3.00%
Maximum
Available-for-sale securities
Interest rate on standard policy loans (as a percent)	8.00%
Below investment grade
Available-for-sale securities
Fair Value	$ 1,600,000,000
Available-for-sale securities, amortized cost	1,800,000,000
Securities in trading portfolio	144,300,000
Securities not publicly traded	262,800,000
Residential mortgage-backed securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	30,633,000	13,064,000
Commercial mortgage-backed securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	49,602,000	21,031,000
Other asset-backed securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	4,435,000	$ 5,441,000
Minimum percentage of underlying collateral guaranteed by third party		97.00%
U.S. government-related securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	41,054,000	$ 31,489,000
Other government-related securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	18,583,000	4,779,000
States, municipals, and political subdivisions
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	91,722,000	43,875,000
Corporate securities
Available-for-sale securities
Continuous unrealized loss position, 12 months or longer	1,411,415,000	471,752,000
Fixed Maturities
Available-for-sale securities
Fair Value	49,263,033,000
Available-for-sale securities, amortized cost	51,816,959,000
Gross Unrecognized Holding Losses	86,264,000	19,163,000
Gross Unrecognized Holding Gains	$ 0	$ 76,586,000
Red Mountain
Available-for-sale securities
Number of wholly owned subsidiaries which were determined to be VIE | reinsurer	1	1
Ownership through an affiliate (as a percent)	100.00%
Risk of los related to the VIE limited to the entity's investment	$ 10,000
Payments made	$ 0

INVESTMENT OPERATIONS - Change

INVESTMENT OPERATIONS - Change in Unrealized Gains (Losses) on Investments Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fixed Maturities
Investment [Line Items]
Change in unrealized gains (losses) net of income tax	$ (2,032,573)	$ 1,083,865	$ 802,248

INVESTMENT OPERATIONS - Sched_8

INVESTMENT OPERATIONS - Schedule of Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Fair Value	$ 2,547,210	$ 2,776,327
Fixed Maturities
Investment [Line Items]
Amortized Cost	2,633,474	2,718,904
Gross Unrecognized Holding Gains	0	76,586
Gross Unrecognized Holding Losses	(86,264)	(19,163)
Fair Value	2,547,210	2,776,327
Total OTTI Recognized in OCI	0	0
Red Mountain | Fixed Maturities
Investment [Line Items]
Amortized Cost	750,474	704,904
Gross Unrecognized Holding Gains	0	0
Gross Unrecognized Holding Losses	(81,657)	(19,163)
Fair Value	668,817	685,741
Total OTTI Recognized in OCI	0	0
Steel City | Fixed Maturities
Investment [Line Items]
Amortized Cost	1,883,000	2,014,000
Gross Unrecognized Holding Gains	0	76,586
Gross Unrecognized Holding Losses	(4,607)	0
Fair Value	1,878,393	2,090,586
Total OTTI Recognized in OCI	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Fixed maturity securities - available-for-sale	$ 49,898,408	$ 39,488,434
Fixed maturity securities - trading	2,457,010	2,725,694
Total fixed maturity securities	51,679,226	40,971,486
Equity securities	557,708	715,498
Other long-term investments	414,827	629,537
Short-term investments	666,301	527,144
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Fixed Maturities
Assets:
Fixed maturity securities - available-for-sale	49,263,033
Level 2 | Corporate securities
Assets:
Total investments	42,100,000
Level 3 | Other asset-backed securities
Assets:
Total investments	421,458	504,228
Level 3 | Corporate securities
Assets:
Total investments	631,068	617,770
Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities	51,679,225	40,971,486
Equity securities	557,708	715,498
Other long-term investments	414,827	629,537
Short-term investments	666,301	527,144
Total investments	53,318,061	42,843,665
Cash	151,400	178,855
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets measured at fair value on a recurring basis	66,696,112	58,013,793
Liabilities:
Annuity account balances	76,119	83,472
Other liabilities	658,788	905,973
Total liabilities measured at fair value on a recurring basis	734,907	989,445
Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	3,602,991	2,318,493
Fixed maturity securities - trading	241,836	259,694
Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	2,266,387	1,860,488
Fixed maturity securities - trading	188,925	146,804
Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Fixed maturity securities - available-for-sale	1,391,893	1,249,549
Fixed maturity securities - trading	159,907	138,097
Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Fixed maturity securities - available-for-sale	1,614,505	1,223,252
Fixed maturity securities - trading	59,794	27,234
Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Fixed maturity securities - available-for-sale	3,588,841	1,741,645
Fixed maturity securities - trading	286,413	326,925
Measured at fair value on a recurring basis | Other government-related securities
Assets:
Fixed maturity securities - available-for-sale	514,036	285,233
Fixed maturity securities - trading	44,207	63,925
Measured at fair value on a recurring basis | Corporate securities
Assets:
Fixed maturity securities - available-for-sale	36,201,578	29,537,546
Fixed maturity securities - trading	1,423,833	1,698,183
Measured at fair value on a recurring basis | Redeemable preferred stock
Assets:
Fixed maturity securities - available-for-sale	82,802	91,091
Fixed maturity securities - trading	11,277	3,327
Measured at fair value on a recurring basis | Fixed Maturities
Assets:
Fixed maturity securities - available-for-sale	49,263,033	38,307,297
Fixed maturity securities - trading	2,416,192	2,664,189
Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities	1,089,751	1,055,756
Equity securities	494,287	649,981
Other long-term investments	83,047	51,102
Short-term investments	589,084	394,394
Total investments	2,256,169	2,151,233
Cash	151,400	178,855
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets measured at fair value on a recurring basis	15,634,220	17,321,361
Liabilities:
Annuity account balances	0	0
Other liabilities	56,018	5,755
Total liabilities measured at fair value on a recurring basis	56,018	5,755
Measured at fair value on a recurring basis | Level 1 | Residential mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | Other asset-backed securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Fixed maturity securities - available-for-sale	985,485	958,775
Fixed maturity securities - trading	27,453	21,183
Measured at fair value on a recurring basis | Level 1 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | Other government-related securities
Assets:
Fixed maturity securities - available-for-sale	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 1 | Redeemable preferred stock
Assets:
Fixed maturity securities - available-for-sale	65,536	72,471
Fixed maturity securities - trading	11,277	3,327
Measured at fair value on a recurring basis | Level 1 | Fixed Maturities
Assets:
Fixed maturity securities - available-for-sale	1,051,021	1,031,246
Fixed maturity securities - trading	38,730	24,510
Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities	49,497,258	38,743,800
Equity securities	0	0
Other long-term investments	180,438	417,969
Short-term investments	77,217	132,750
Total investments	49,754,913	39,294,519
Cash	0	0
Assets related to separate accounts
Variable annuity	0	0
Variable universal life	0	0
Total assets measured at fair value on a recurring basis	49,754,913	39,294,519
Liabilities:
Annuity account balances	0	0
Other liabilities	164,643	302,656
Total liabilities measured at fair value on a recurring basis	164,643	302,656
Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	3,602,991	2,318,493
Fixed maturity securities - trading	241,836	259,694
Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	2,266,387	1,860,488
Fixed maturity securities - trading	188,925	146,804
Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Fixed maturity securities - available-for-sale	970,251	745,184
Fixed maturity securities - trading	133,851	102,875
Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Fixed maturity securities - available-for-sale	629,020	264,477
Fixed maturity securities - trading	32,341	6,051
Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities - available-for-sale	3,588,841	1,741,645
Fixed maturity securities - trading	286,413	326,925
Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Fixed maturity securities - available-for-sale	514,036	285,233
Fixed maturity securities - trading	44,207	63,925
Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Fixed maturity securities - available-for-sale	35,563,302	28,910,645
Fixed maturity securities - trading	1,417,591	1,692,741
Measured at fair value on a recurring basis | Level 2 | Redeemable preferred stock
Assets:
Fixed maturity securities - available-for-sale	17,266	18,620
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 2 | Fixed Maturities
Assets:
Fixed maturity securities - available-for-sale	47,152,094	36,144,785
Fixed maturity securities - trading	2,345,164	2,599,015
Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities	1,092,216	1,171,930
Equity securities	63,421	65,517
Other long-term investments	151,342	160,466
Short-term investments	0	0
Total investments	1,306,979	1,397,913
Cash	0	0
Assets related to separate accounts
Variable annuity	0	0
Variable universal life	0	0
Total assets measured at fair value on a recurring basis	1,306,979	1,397,913
Liabilities:
Annuity account balances	76,119	83,472
Other liabilities	438,127	597,562
Total liabilities measured at fair value on a recurring basis	514,246	681,034
Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Fixed maturity securities - available-for-sale	421,642	504,365
Fixed maturity securities - trading	26,056	35,222
Measured at fair value on a recurring basis | Level 3 | U.S. government-related securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | Other government-related securities
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Fixed maturity securities - available-for-sale	638,276	626,901
Fixed maturity securities - trading	6,242	5,442
Measured at fair value on a recurring basis | Level 3 | Redeemable preferred stock
Assets:
Fixed maturity securities - available-for-sale	0	0
Fixed maturity securities - trading	0	0
Measured at fair value on a recurring basis | Level 3 | Fixed Maturities
Assets:
Fixed maturity securities - available-for-sale	1,059,918	1,131,266
Fixed maturity securities - trading	$ 32,298	$ 40,664

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Determination of Fair Values Additional Information (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)primary_source	Dec. 31, 2018USD ($)quote	Dec. 31, 2018USD ($)input_method	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Determination of fair values
Number of primary sources of information used for determining fair value | primary_source				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		93.60%
Number of independent non-binding broker quotes obtained per security | quote					1
Minimum percentage of underlying collateral guaranteed by third party		97.00%
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations		84.50%
Interest support agreement, amount collateralized	$ 495,307,000	$ 495,307,000	$ 495,307,000	$ 495,307,000	$ 495,307,000	$ 495,307,000	$ 1,017,749,000
Other long-term investments	414,827,000	414,827,000	414,827,000	414,827,000	414,827,000	414,827,000	629,537,000
Interest support, YRT premium support and portfolio maintenance agreement
Determination of fair values
Other long-term investments	90,000,000	90,000,000	90,000,000	90,000,000	90,000,000	90,000,000
Golden Gate II Captive Insurance Company (Golden Gate II) | Interest Support Agreement
Determination of fair values
Interest support agreement, amount collateralized	4,900,000	4,900,000	4,900,000	4,900,000	4,900,000	4,900,000
Payments triggered under agreement			600,000
Other long-term investments	37,600,000	37,600,000	37,600,000	37,600,000	37,600,000	37,600,000
Golden Gate II Captive Insurance Company (Golden Gate II) | YRT premium support agreement
Determination of fair values
Payments triggered under agreement			0
Other long-term investments	50,000,000	50,000,000	50,000,000	50,000,000	50,000,000	50,000,000
Golden Gate V and West Coast Life | Portfolio maintenance agreements
Determination of fair values
Payments triggered under agreement			0
Other long-term investments	2,500,000	2,500,000	2,500,000	2,500,000	2,500,000	2,500,000
Level 3
Determination of fair values
Annuity account balances	514,246,000	514,246,000	514,246,000	514,246,000	514,246,000	514,246,000	$ 681,034,000	$ 493,419,000
Asset-Backed Securities | Level 2
Determination of fair values
Fair value, assets	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000
Asset-Backed Securities | Level 3
Determination of fair values
Fair value, assets	447,700,000	447,700,000	447,700,000	447,700,000	447,700,000	447,700,000
Other asset-backed securities
Determination of fair values
Minimum percentage of underlying collateral guaranteed by third party							97.00%
Other asset-backed securities | Level 3
Determination of fair values
Fair value, assets	421,458,000	421,458,000	421,458,000	421,458,000	421,458,000	421,458,000	$ 504,228,000
Other asset-backed securities | Level 3 | Available-for-sale securities
Determination of fair values
Fair value, assets	421,600,000	421,600,000	421,600,000	421,600,000	421,600,000	421,600,000
Other asset-backed securities | Level 3 | Trading securities
Determination of fair values
Fair value, assets	26,100,000	$ 26,100,000	26,100,000	26,100,000	26,100,000	26,100,000
Minimum percentage of underlying collateral guaranteed by third party		97.00%
Equity securities | Level 2 and Level 3
Determination of fair values
Fair value, assets	63,400,000	$ 63,400,000	63,400,000	63,400,000	63,400,000	63,400,000
Federal home loan bank stock	$ 63,400,000	$ 63,400,000	63,400,000	63,400,000	63,400,000	63,400,000
Embedded derivative - GLWB
Determination of fair values
Unrealized gain (loss) of securities			25,800,000
Embedded derivative - GLWB | Minimum
Determination of fair values
Fair Value Inputs, Mortality Rate		87.00%
Embedded derivative - GLWB | Maximum
Determination of fair values
Fair Value Inputs, Mortality Rate		100.00%
Embedded derivative - GLWB | Level 3
Determination of fair values
Discount rate curve, base rate	LIBOR
Funds withheld derivative | Level 2
Determination of fair values
Fair value, derivative liability	$ 95,100,000	$ 95,100,000	95,100,000	95,100,000	95,100,000	95,100,000
Corporate securities | Level 2
Determination of fair values
Fair value, assets	42,100,000,000	42,100,000,000	42,100,000,000	42,100,000,000	42,100,000,000	42,100,000,000
Corporate securities | Level 3
Determination of fair values
Fair value, assets	631,068,000	631,068,000	631,068,000	631,068,000	631,068,000	631,068,000	617,770,000
Corporate Bonds And Securities | Level 3
Determination of fair values
Fair value, assets	$ 644,500,000	644,500,000	644,500,000	644,500,000	644,500,000	644,500,000
Embedded derivative-FIA | Level 3
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative - IUL | Level 3
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded Derivative Modified Coinsurance Agreements [Member]
Determination of fair values
Statutory policy liabilities (net of policy loans)	$ 2,300,000,000	$ 2,300,000,000	2,300,000,000	2,300,000,000	2,300,000,000	2,300,000,000
Actuarial cash flow model | Embedded derivative-FIA | Level 3 | Minimum
Determination of fair values
Fair Value Inputs, Mortality Rate		87.00%
Actuarial cash flow model | Embedded derivative-FIA | Level 3 | Maximum
Determination of fair values
Fair Value Inputs, Mortality Rate		100.00%
Actuarial cash flow model | Embedded derivative - IUL | Level 3 | Minimum
Determination of fair values
Fair Value Inputs, Mortality Rate		37.00%
Actuarial cash flow model | Embedded derivative - IUL | Level 3 | Maximum
Determination of fair values
Fair Value Inputs, Mortality Rate		577.00%
Variable annuity | Level 3
Determination of fair values
Annuity account balances	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 83,472,000	$ 87,616,000

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation of Level 3 Financial Instruments (Details)	12 Months Ended
	Dec. 31, 2018USD ($)usd_per_policy	Dec. 31, 2017USD ($)usd_per_policy
Assets and liabilities measured at fair value on a recurring basis
Derivative liability	$ 658,788,000	$ 905,973,000
Level 3
Assets and liabilities measured at fair value on a recurring basis
Financial instruments that are valued using broker quotes	39,700,000	50,000,000
Financial instruments with book value approximating fair value	63,400,000	65,500,000
Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets	421,458,000	504,228,000
Financial instruments that are valued using broker quotes	26,200,000	35,400,000
Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value, assets	631,068,000	617,770,000
Financial instruments that are valued using broker quotes	13,500,000	14,600,000
Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Derivative liability	43,307,000	15,554,000
Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Derivative liability	217,288,000	218,676,000
Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Derivative liability	$ 90,231,000	$ 80,212,000
Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input | usd_per_policy	145	146
Minimum | Discounted cash flow | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0084	0.0081
Minimum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.87
Maximum | Discounted cash flow | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0300	0.0395
Weighted Average | Discounted cash flow | Corporate securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0184	0.0106
Liquidation value | Minimum | Liquidation technique | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input, value	$ 85.75	$ 90
Liquidation value | Maximum | Liquidation technique | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input, value	99.99	97
Liquidation value | Weighted Average | Liquidation technique | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input, value	$ 95.36	$ 94.91
Liquidity premium | Minimum | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0002	0.0006
Liquidity premium | Maximum | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0125	0.0117
Liquidity premium | Weighted Average | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.0064	0.0075
Paydown rate | Minimum | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.1096	0.1131
Paydown rate | Maximum | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.1311	0.1197
Paydown rate | Weighted Average | Discounted cash flow | Other asset-backed securities | Level 3
Assets and liabilities measured at fair value on a recurring basis
Debt securities, measurement input	0.1203	0.1154
Mortality | Minimum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.87	0.911
Mortality | Minimum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.37	0.34
Mortality | Maximum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	1	1.066
Mortality | Maximum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	1
Mortality | Maximum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	5.77	1.52
Utilization | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.99	0.99
Policies with one time over utilization rate of specified amount as a percent	10.00%	10.00%
Specified one time over-utilization rate (as a percent)	400.00%	400.00%
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.0021	0.0011
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.2100	0.0011
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.0021	0.0011
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.0116	0.0079
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.0116	0.0079
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.0116	0.0079
Withdrawal rate prior to age 70 | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.015	0.015
Withdrawal rate | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	1	1
Lapse | Minimum
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input		0.010
Lapse | Minimum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.010	0.010
Lapse | Minimum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.005	0.005
Lapse | Maximum
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input		0.300
Lapse | Maximum | Actuarial cash flow model | Embedded derivative-FIA | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.300	0.300
Lapse | Maximum | Actuarial cash flow model | Embedded derivative-IUL | Level 3
Assets and liabilities measured at fair value on a recurring basis
Embedded derivative liability, measurement input	0.100	0.100

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Reconciliation of Fair Value Measurements for Level 3 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Liabilities:
Transfers in/out of Level 3		$ 0
Transfers
Securities transferred into Level 3	$ 39,700,000
Transferred out of Level 3	85,700,000	28,900,000
Transfers from Level 2 to Level 1	0	0
Transfers from Level 1 to Level 2	0	0
Level 3
Assets:
Beginning Balance	1,397,914,000
Issuances	0	0
Settlements	(627,000)	0
Ending Balance	1,306,979,000	1,397,914,000
Liabilities:
Beginning Balance	681,034,000	493,419,000
Total Realized and Unrealized Gains Included in Earnings	299,366,000	35,703,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(143,436,000)	(231,463,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	623,000	623,000
Settlements	11,481,000	8,768,000
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	514,246,000	681,034,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	159,435,000	(191,759,000)
Level 3 | Variable annuity
Liabilities:
Beginning Balance	83,472,000	87,616,000
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,505,000)	(4,001,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	623,000	623,000
Settlements	11,481,000	8,768,000
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	76,119,000	83,472,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Other liabilities
Liabilities:
Beginning Balance	597,562,000	405,803,000
Total Realized and Unrealized Gains Included in Earnings	299,366,000	35,703,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(139,931,000)	(227,462,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	438,127,000	597,562,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	159,435,000	(191,759,000)
Level 3 | Residential mortgage-backed securities | Available-for-sale securities
Assets:
Beginning Balance	0	3,000
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	83,000
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(995,000)	0
Purchases	22,225,000	11,862,000
Sales	0	(3,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(21,281,000)	(11,944,000)
Other	51,000	(1,000)
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Residential mortgage-backed securities | Trading Securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Commercial mortgage-backed securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	50,000	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(2,497,000)	0
Purchases	48,621,000	0
Sales	(292,000)	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(45,832,000)	0
Other	(50,000)	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Commercial mortgage-backed securities | Trading Securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Other asset-backed securities | Available-for-sale securities
Assets:
Beginning Balance	504,365,000	562,604,000
Total Realized and Unrealized Gains Included in Earnings	3,716,000	1,410,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	16,503,000	15,136,000
Total Realized and Unrealized Losses Included in Earnings	(159,000)	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(25,578,000)	(10,931,000)
Purchases	0	100,000
Sales	(80,050,000)	(59,176,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	222,000	(6,643,000)
Other	2,623,000	1,865,000
Ending Balance	421,642,000	504,365,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Other asset-backed securities | Trading Securities
Assets:
Beginning Balance	35,222,000	84,563,000
Total Realized and Unrealized Gains Included in Earnings	464,000	3,768,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,798,000)	(1,157,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	8,728,000	0
Sales	(14,511,000)	(52,835,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	164,000	0
Other	(213,000)	883,000
Ending Balance	26,056,000	35,222,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,179,000)	3,483,000
Level 3 | U.S. government-related securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | U.S. government-related securities | Trading Securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | States, municipals, and political subdivisions | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | States, municipals, and political subdivisions | Trading Securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Other government-related securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Other government-related securities | Trading Securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Corporate securities | Available-for-sale securities
Assets:
Beginning Balance	626,901,000	664,046,000
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,537,000	27,637,000
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(29,017,000)	(13,089,000)
Purchases	108,491,000	131,822,000
Sales	(97,676,000)	(169,002,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	20,721,000	(10,353,000)
Other	(3,681,000)	(4,160,000)
Ending Balance	638,276,000	626,901,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Corporate securities | Trading Securities
Assets:
Beginning Balance	5,442,000	5,492,000
Total Realized and Unrealized Gains Included in Earnings	45,000	101,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(145,000)	(58,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	999,000	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	(99,000)	(93,000)
Ending Balance	6,242,000	5,442,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(101,000)	44,000
Level 3 | Fixed Maturities
Assets:
Beginning Balance	1,171,930,000	1,316,708,000
Total Realized and Unrealized Gains Included in Earnings	4,225,000	5,279,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090,000	42,856,000
Total Realized and Unrealized Losses Included in Earnings	(4,102,000)	(1,215,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,087,000)	(24,020,000)
Purchases	189,064,000	143,784,000
Sales	(192,529,000)	(281,016,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(46,006,000)	(28,940,000)
Other	(1,369,000)	(1,506,000)
Ending Balance	1,092,216,000	1,171,930,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,280,000)	3,527,000
Level 3 | Fixed Maturities | Available-for-sale securities
Assets:
Beginning Balance	1,131,266,000	1,226,653,000
Total Realized and Unrealized Gains Included in Earnings	3,716,000	1,410,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090,000	42,856,000
Total Realized and Unrealized Losses Included in Earnings	(159,000)	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,087,000)	(24,020,000)
Purchases	179,337,000	143,784,000
Sales	(178,018,000)	(228,181,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(46,170,000)	(28,940,000)
Other	(1,057,000)	(2,296,000)
Ending Balance	1,059,918,000	1,131,266,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Fixed Maturities | Trading Securities
Assets:
Beginning Balance	40,664,000	90,055,000
Total Realized and Unrealized Gains Included in Earnings	509,000	3,869,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,943,000)	(1,215,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	9,727,000	0
Sales	(14,511,000)	(52,835,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	164,000	0
Other	(312,000)	790,000
Ending Balance	32,298,000	40,664,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,280,000)	3,527,000
Level 3 | Equity securities
Assets:
Beginning Balance	65,518,000	65,786,000
Total Realized and Unrealized Gains Included in Earnings	1,000	2,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(30,000)	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	36,000	0
Sales	(2,103,000)	(273,000)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	3,000
Other	(1,000)	0
Ending Balance	63,421,000	65,518,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	282,000	3,000
Level 3 | Other long-term investments
Assets:
Beginning Balance	160,466,000	115,516,000
Total Realized and Unrealized Gains Included in Earnings	39,118,000	73,253,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(47,615,000)	(28,303,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	(627,000)	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	151,342,000	160,466,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(9,124,000)	44,950,000
Level 3 | Short-term investments
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Level 3 | Total investments
Assets:
Beginning Balance	1,397,914,000	1,498,010,000
Total Realized and Unrealized Gains Included in Earnings	43,344,000	78,534,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090,000	42,856,000
Total Realized and Unrealized Losses Included in Earnings	(51,747,000)	(29,518,000)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,087,000)	(24,020,000)
Purchases	189,100,000	143,784,000
Sales	(194,632,000)	(281,289,000)
Transfers in/out of Level 3	(46,006,000)	(28,937,000)
Other	(1,370,000)	(1,506,000)
Ending Balance	1,306,979,000	1,397,914,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	$ (12,122,000)	$ 48,480,000

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Mortgage loans on real estate	$ 7,724,733	$ 6,817,723
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,633,474	2,718,904
Liabilities:
Stable value product account balances	5,234,731	4,698,371
Future policy benefits and claims	13,720,081	10,921,190
Other policyholders’ funds	1,128,379	1,267,198
Debt
Non-recourse funding obligations	2,888,329	2,952,822
Capital lease obligations	1,300	1,700
Golden Gate V
Debt
Non-recourse funding obligations	729,454	681,285
Carrying Amounts
Assets:
Mortgage loans on real estate	7,724,733	6,817,723
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,633,474	2,718,904
Liabilities:
Stable value product account balances	5,234,731	4,698,371
Future policy benefits and claims	1,671,414	220,498
Other policyholders’ funds	131,150	133,508
Debt
Non-recourse funding obligations	2,888,329	2,952,822
Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations	2,600,000	2,700,000
Carrying Amounts | Level 3
Debt
Subordinated Debt Obligations, Fair Value Disclosure	110,000	0
Fair Value | Golden Gate V
Debt
Non-recourse funding obligations	2,500,000
Fair Value | Level 3
Assets:
Mortgage loans on real estate	7,447,702	6,740,177
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,547,210	2,776,327
Liabilities:
Stable value product account balances	5,200,723	4,698,868
Future policy benefits and claims	1,671,434	220,498
Other policyholders’ funds	131,782	134,253
Debt
Non-recourse funding obligations	2,801,399	2,980,495
Subordinated Debt Obligations, Fair Value Disclosure	$ 95,476	0
Fair Value | Level 3 | Golden Gate V
Debt
Non-recourse funding obligations		$ 2,800,000

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Realized Investment Gains (Losses) Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	$ 79,097	$ (137,041)	$ 49,790
Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	79,097	(137,042)	49,790
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	166,757	(103,009)	390
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	(902)	42,699	29,289
Derivatives not designated as hedging instruments | Other
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	14	50	(25)
Variable annuity | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(86,599)	(60,776)	11,098
Variable annuity | Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(25,473)	26,015	(3,450)
Variable annuity | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(88,208)	(91,776)	(106,431)
Variable annuity | Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	10,275	(23,176)	33,836
Variable annuity | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	38,083	(94,791)	(60,962)
Variable annuity | Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(14)	(2,490)	(1,161)
Variable annuity | 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	(45,185)	27,981	20,420
Variable annuity | Derivatives not designated as hedging instruments | Total return swaps
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	77,225	(32,240)	0
Variable annuity | Derivatives not designated as hedging instruments | Embedded derivative - GLWB
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(27,761)	(8,526)	13,306
Variable annuity | Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(25,541)	138,227	115,540
FIA | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(3,158)	(10,651)	(4,097)
FIA | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	330	642	4,248
FIA | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(38,885)	44,585	8,149
FIA | Derivatives not designated as hedging instruments | Volatility futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	0	0	0
FIA | Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	35,397	(55,878)	(16,494)
Universal Life | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	2,985	(5,355)	13,135
Universal Life | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	261	(818)	129
Universal Life | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(6,338)	9,580	3,477
Universal Life | Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	$ 9,062	$ (14,117)	$ 9,529

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivatives in Cash Flow Relationship (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount expected to be reclassified out of accumulated comprehensive income into earnings	$ 100
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	(2,386)	$ (867)	$ 1,058
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(1,431)	(694)	(60)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	0	0	0
Cash flow hedges | Foreign currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	(812)	(867)	1,058
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(798)	(694)	(60)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	0	$ 0	$ 0
Cash flow hedges | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	(1,574)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(633)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Nature and Accounting Treatment of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	$ 12,938,155	$ 12,361,869
Derivative asset, fair value	414,827	629,537
Derivative liability, notional amount	18,607,894	12,710,731
Derivative liability, fair value	658,788	905,973
Foreign currency swaps | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	0	117,178
Derivative asset, fair value	0	6,016
Interest rate swaps | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	1,515,500	1,265,000
Derivative asset, fair value	28,501	55,411
Derivative liability, notional amount	775,000	597,500
Derivative liability, fair value	11,367	2,960
Total return swaps | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	138,070	190,938
Derivative asset, fair value	3,971	135
Derivative liability, notional amount	768,177	243,388
Derivative liability, fair value	23,054	318
Derivatives with PLC
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, fair value	90,049	91,578
Derivatives with PLC | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	2,856,351	2,810,469
Derivative asset, fair value	90,049	91,578
Embedded derivative - Modco reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, fair value	7,072	1,009
Derivative liability, fair value	32,828	215,247
Embedded derivative - Modco reinsurance treaties | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	585,294	64,472
Derivative asset, fair value	7,072	1,009
Derivative liability, notional amount	1,795,287	2,390,539
Derivative liability, fair value	32,828	215,247
Embedded derivative - GLWB
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, fair value	54,221	67,879
Derivative liability, fair value	97,528	83,427
Embedded derivative - GLWB | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	1,919,861	2,116,935
Derivative asset, fair value	54,221	67,879
Derivative liability, notional amount	4,071,322	1,939,320
Derivative liability, fair value	97,528	83,427
Interest rate futures | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	286,208	1,071,870
Derivative asset, fair value	10,302	3,178
Derivative liability, notional amount	863,706	230,404
Derivative liability, fair value	20,100	917
Equity futures | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	12,633	62,266
Derivative asset, fair value	483	154
Derivative liability, notional amount	659,357	318,795
Derivative liability, fair value	33,753	2,593
Currency futures | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	0	1,117
Derivative asset, fair value	0	2
Derivative liability, notional amount	202,747	255,248
Derivative liability, fair value	2,163	2,087
Equity options | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	5,624,081	4,436,467
Derivative asset, fair value	220,092	403,961
Derivative liability, notional amount	4,199,687	3,112,812
Derivative liability, fair value	34,178	237,807
Interest rate swaptions | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	0	225,000
Derivative asset, fair value	0	14
Other | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional a mount	157	157
Derivative asset, fair value	136	200
Derivative liability, notional amount	3,288	0
Derivative liability, fair value	252	0
Funds withheld derivative
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, fair value	95,142	61,729
Funds withheld derivative | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, notional amount	1,992,562	1,502,726
Derivative liability, fair value	95,142	61,729
Embedded derivative - FIA
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, fair value	217,288	218,676
Embedded derivative - FIA | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, notional amount	2,576,033	1,951,650
Derivative liability, fair value	217,288	218,676
Embedded derivative - IUL
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, fair value	90,231	80,212
Embedded derivative - IUL | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, notional amount	233,550	168,349
Derivative liability, fair value	90,231	80,212
Cash flow hedges | Foreign currency swaps | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, notional amount	117,178	0
Derivative liability, fair value	904	0
Cash flow hedges | Interest rate swaps | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability, notional amount	350,000	0
Derivative liability, fair value	$ 0	$ 0

OFFSETTING OF ASSETS AND LIAB_3

OFFSETTING OF ASSETS AND LIABILITIES - Narrative (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Offsetting [Abstract]
Fair value of non-cash collateral received	$ 45,000,000	$ 0

OFFSETTING OF ASSETS AND LIAB_4

OFFSETTING OF ASSETS AND LIABILITIES - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting of Derivative Assets
Other long-term investments	$ 414,827	$ 629,537
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	414,827	629,537
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	245,306	278,602
Free-Standing derivatives
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, subject to master netting arrangement	263,349	468,871
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	263,349	468,871
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to master neting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	93,828	117,936
Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, subject to master netting arrangement	263,349	468,871
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	263,349	468,871
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to master neting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	93,828	117,936
Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Assets
Other long-term investments	7,072	1,009
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	7,072	1,009
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	7,072	1,009
Embedded derivative - GLWB
Offsetting of Derivative Assets
Other long-term investments	54,221	67,879
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	54,221	67,879
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	54,221	67,879
Derivatives with PLC
Offsetting of Derivative Assets
Other long-term investments	90,049	91,578
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	90,049	91,578
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	90,049	91,578
Other
Offsetting of Derivative Assets
Other long-term investments	136	200
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	136	200
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	136	200
Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Other long-term investments	151,478	160,666
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position, Including not subject to master netting arrangement	151,478	160,666
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	$ 151,478	$ 160,666

OFFSETTING OF ASSETS AND LIAB_5

OFFSETTING OF ASSETS AND LIABILITIES - Offsetting of Derivative Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	$ 658,788	$ 905,973
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	658,788	905,973
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	70,322	242,105
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	540,610	659,291
Repurchase agreements
Gross Amounts of Recognized Liabilities	418,090	885,000
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	418,090	885,000
Gross Amounts Not Offset in Statement of Financial Position, Financial Instruments	0	0
Gross Amounts Not Offset in Statement of Financial Position, Cash Collateral Paid	0	0
Net Amount	418,090	885,000
Total Liabilities
Gross Amounts of Recognized Liabilities	1,076,878	1,790,973
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	1,076,878	1,790,973
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	47,856	4,577
Net Amount	958,700	1,544,291
Free-Standing derivatives
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, subject to a master netting arrangement	125,519	246,682
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	125,519	246,682
Derivative Liability, Not Offset, Policy Election Deduction	70,322	242,105
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	7,341	0
Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, subject to a master netting arrangement	125,519	246,682
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	125,519	246,682
Derivative Liability, Not Offset, Policy Election Deduction	70,322	242,105
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	7,341	0
Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	32,828	215,247
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	32,828	215,247
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	32,828	215,247
Funds withheld derivative
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	95,142	61,729
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	95,142	61,729
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	95,142	61,729
Embedded derivative - GLWB
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	97,528	83,427
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	97,528	83,427
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	97,528	83,427
Embedded derivative - FIA
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	217,288	218,676
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	217,288	218,676
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	217,288	218,676
Embedded derivative - IUL
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	90,231	80,212
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	90,231	80,212
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	90,231	80,212
Other
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	252
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	252
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0
Net Amount	252
Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	533,269	659,291
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position, Including not subject to master netting arrangement	533,269	659,291
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Gross Amounts Not Offset in Statement of Financial Position, Collateral Posted	0	0
Net Amount	$ 533,269	$ 659,291

MORTGAGE LOANS - Loan Portfolio

MORTGAGE LOANS - Loan Portfolio and Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)reinsurer	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Mortgage loans
Mortgage loans on real estate	$ 7,724,733	$ 6,817,723
Number of single tenants whose exposure represents more than 1.7% of mortgage loans | reinsurer	0
Percentage of mortgage loans on real estate	100.00%
Amount of new loans funded	$ 1,500,000
Average loan size of new loans funded	9,100
Average loan size of portfolio	$ 4,400
Weighted-average interest rate on mortgage loans (as a percent)	4.60%
Largest single mortgage loan	$ 48,800
Amount that would become due in 2019, if loans are called at their next call dates	109,800
Amount that would become due in 2020 through 2024, if loans are called at their next call dates	819,400
Amount that would become due in 2025 through 2029, if loans are called at their next call dates	$ 61,200
Florida
Mortgage loans
Percentage of mortgage loans on real estate	8.80%
Alabama
Mortgage loans
Percentage of mortgage loans on real estate	8.60%
Texas
Mortgage loans
Percentage of mortgage loans on real estate	7.50%
Georgia
Mortgage loans
Percentage of mortgage loans on real estate	7.30%
California
Mortgage loans
Percentage of mortgage loans on real estate	7.20%
Michigan
Mortgage loans
Percentage of mortgage loans on real estate	4.80%
Tennessee
Mortgage loans
Percentage of mortgage loans on real estate	4.70%
Utah
Mortgage loans
Percentage of mortgage loans on real estate	4.70%
Ohio
Mortgage loans
Percentage of mortgage loans on real estate	4.50%
North Carolina
Mortgage loans
Percentage of mortgage loans on real estate	4.40%
All identified states
Mortgage loans
Percentage of mortgage loans on real estate	62.50%
Retail
Mortgage loans
Percentage of mortgage loans on real estate	45.00%
Office Buildings
Mortgage loans
Percentage of mortgage loans on real estate	13.20%
Apartments
Mortgage loans
Percentage of mortgage loans on real estate	10.20%
Warehouses
Mortgage loans
Percentage of mortgage loans on real estate	11.30%
Senior housing
Mortgage loans
Percentage of mortgage loans on real estate	15.80%
Other
Mortgage loans
Percentage of mortgage loans on real estate	4.50%
Maximum
Mortgage loans
Single tenant's exposure as a percentage of mortgage loans	1.20%
Commercial mortgage loans
Mortgage loans
Mortgage loans having participation feature	$ 700,600	669,300
Income recognized on participating mortgage loans	29,400	37,200	$ 16,700
Nonperforming mortgage loans, foreclosed properties and restructured loans pursuant to pooling and servicing agreements	3,000	6,500	1,500
Allowance for credit losses	$ 1,296	$ 0	$ 724
Past due period at which to cease carrying accrued interest on delinquent loans	90 days
Maximum number of days accrued interest on impaired loans	90 days
Past due period at which to initiate foreclosure proceedings (more than)	90 days
Commercial mortgage loans | Maximum
Mortgage loans
Period for exercise of call options or interest rate reset options	10 years
Loan-to-value ratio with participating interest (as a percent) (up to)	85.00%

MORTGAGE LOANS - Allowance for

MORTGAGE LOANS - Allowance for Credit Losses (Details) - Commercial mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in the allowance for credit losses
Beginning balance	$ 0	$ 724
Charge offs	0	(6,708)
Recoveries	(209)	(731)
Provision	1,505	6,715
Ending balance	$ 1,296	$ 0

MORTGAGE LOANS - Delinquent Loa

MORTGAGE LOANS - Delinquent Loans (Details) - Commercial mortgage loans $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)loan	Dec. 31, 2017USD ($)loan
Delinquent loans
Delinquent commercial mortgage loans | $	$ 2,278	$ 1,817
Number of delinquent commercial mortgage loans | loan	5	2
30-59 Days Delinquent
Delinquent loans
Delinquent commercial mortgage loans | $	$ 1,044	$ 1,817
Number of delinquent commercial mortgage loans | loan	4	2
60-89 Days Delinquent
Delinquent loans
Delinquent commercial mortgage loans | $	$ 0	$ 0
Number of delinquent commercial mortgage loans | loan	0	0
Greater than 90 Days Delinquent
Delinquent loans
Delinquent commercial mortgage loans | $	$ 1,234	$ 0
Number of delinquent commercial mortgage loans | loan	1	0

MORTGAGE LOANS - Impaired Loans

MORTGAGE LOANS - Impaired Loans (Details) - Commercial mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Recorded Investment
With no related allowance recorded, recorded investment	$ 0	$ 0
With an allowance recorded, recorded investment	5,684	0
Unpaid Principal Balance
With no related allowance recorded, unpaid principal balance	0	0
With an allowance recorded, unpaid principal balance	5,309	0
Related Allowance
With an allowance recorded, related allowance	1,296	0
Average Recorded Investment
With no related allowance recorded, average recorded investment	0	0
With an allowance recorded, average recorded investment	1,895	0
Interest Income Recognized
With no related allowance recorded, interest income recognized	0	0
With an allowance recorded, interest income recognized	267	0
Cash Basis Interest Income
With no related allowance recorded, cash basis interest income	0	0
With an allowance recorded, recorded investment	$ 293	$ 0

MORTGAGE LOANS - Troubled Debt

MORTGAGE LOANS - Troubled Debt Restructuring (Details) - Commercial mortgage loans $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)contract	Dec. 31, 2017USD ($)contract
Troubled debt restructuring:
Number of Contracts | contract	1	1
Pre-Modification Outstanding Recorded Investment	$ 2,688	$ 418
Post-Modification Outstanding Recorded Investment	$ 1,742	$ 418

DEFERRED POLICY ACQUISITION C_3

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Balances and changes in DAC
Balance, beginning of period	$ 843,448	$ 576,685
Capitalization of commissions, sales, and issue expenses	446,593	335,601
Amortization	(133,500)	(53,604)
Change due to unrealized investment gains and losses	56,153	(15,234)
Implementation of ASU 2014-09	135,919	0
Balance, end of period	1,348,613	843,448
Balances and changes in VOBA
Balance, beginning of period	1,361,953	1,447,839
Acquisitions	336,862	0
Amortization	(92,566)	(25,839)
Change due to unrealized investment gains and losses	71,468	(60,047)
Balance, end of period	1,677,717	$ 1,361,953
Expected amortization of VOBA for the next five years
2019	140,445
2020	128,876
2021	114,252
2022	104,148
2023	$ 94,741

GOODWILL (Detail)

GOODWILL (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Increase in goodwill	$ 32,000
Goodwill	$ 825,511	$ 793,470

CERTAIN NONTRADITIONAL LONG-D_3

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS - Activity During Period (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances				$ 12,288,919	$ 13,956,071
Annuity account | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Average attained age of contract holders	68 years
Percentage of variable annuity business reinsured	100.00%
Annuity account | Acquisitions | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				$ 12,300
Guaranteed minimum death benefits (GMDB) | Annuity account
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate at which last anniversary date account value is compounded (as a percent)				5.00%
Separate account balances				$ 11,800,000	13,700,000
Mean investment performance (as a percent)				6.51%
Average discount rate (as a percent)				4.80%
Guaranteed amount payable				$ 340,600
Guaranteed amount payable with GMDB reserve	$ 26,934	$ 27,835	$ 29,931	34,700	26,934
Average attained age of contract holders	71 years
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Beginning balance	$ 26,934	27,835	29,931
Incurred guarantee benefits	11,065	(181)	(682)
Less: Paid guarantee benefits	3,299	720	1,414
Ending balance	34,700	$ 26,934	$ 27,835
Guaranteed minimum death benefits (GMDB) | Annuity account | Annuities
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				274,400
Guaranteed amount payable with GMDB reserve	39,200			39,200
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Ending balance	39,200
Guaranteed minimum death benefits (GMDB) | Annuity account | Acquisitions
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				66,200
Guaranteed amount payable with GMDB reserve	5,100			5,100
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Ending balance	$ 5,100
Guaranteed living withdrawal benefits (GLWB) | Annuity account
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances				$ 8,400,000	$ 9,700,000

CERTAIN NONTRADITIONAL LONG-D_4

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS - Account Balances and Deferred Sales Inducement Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Activity in the Company's deferred sales inducement asset
Deferred asset, beginning of period	$ 30,956	$ 22,497	$ 11,756
Amounts deferred	13,336	14,246	16,212
Amortization	(4,715)	(5,787)	(5,471)
Deferred asset, end of period	39,577	30,956	$ 22,497
Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	11,868,599	13,734,986
Equity mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	5,300,024	8,914,637
Fixed income mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	$ 6,568,575	$ 4,820,349

REINSURANCE - Additional Inform

REINSURANCE - Additional Information (Details)	6 Months Ended	12 Months Ended			30 Months Ended
	Jun. 30, 2005USD ($)	Dec. 31, 2018reinsurer	Dec. 31, 2017USD ($)	Dec. 31, 2008USD ($)	Dec. 31, 2007USD ($)
REINSURANCE
Percentage of the face value of life insurance in-force reinsured		34.00%
Single insured life
REINSURANCE
Amount of insurance retained - certain newly issued traditional life products | $	$ 500,000		$ 5,000,000	$ 2,000,000	$ 1,000,000
Concentrated credit risk
REINSURANCE
Percentage of the face value of life insurance in-force reinsured		15.00%
Life insurance in-force reinsured, concentrated number of reinsurers | reinsurer		3

REINSURANCE - Life Insurance In

REINSURANCE - Life Insurance In-Force and Effect of Reinsurance on Premiums Written and Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net life insurance in-force
Direct life insurance in-force	$ 765,986,223	$ 751,512,468	$ 739,248,680
Amounts assumed from other companies	135,407,408	110,205,190	116,265,430
Amounts ceded to other companies	(302,149,614)	(328,377,398)	(348,994,650)
Net Amount	$ 599,244,017	$ 533,340,260	$ 506,519,460
Percentage of amount assumed to net	23.00%	21.00%	23.00%
Effect of reinsurance on premiums written and earned
Gross Amount	$ 3,012,542	$ 2,996,646	$ 2,911,275
Ceded to Other Companies	(1,383,510)	(1,367,096)	(1,330,723)
Assumed from Other Companies	643,966	459,716	478,144
Net Amount	2,272,998	2,089,266	2,058,696
Reinsurance receivables	4,500,000	4,800,000
Ceded benefits which are recoverable from reinsurers	116,100	96,600
Receivables related to insurance assumed	64,800	65,100
Life insurance
Effect of reinsurance on premiums written and earned
Gross Amount	2,681,191	2,655,846	2,610,682
Ceded to Other Companies	(1,249,906)	(1,230,258)	(1,207,159)
Assumed from Other Companies	626,283	435,113	454,999
Net Amount	2,057,568	1,860,701	1,858,522
Annuity policy fees	177,100	173,500	80,100
Accident/health insurance
Effect of reinsurance on premiums written and earned
Gross Amount	47,028	51,991	58,076
Ceded to Other Companies	(30,126)	(33,052)	(36,935)
Assumed from Other Companies	12,826	14,946	17,439
Net Amount	29,728	33,885	38,580
Property and liability insurance
Effect of reinsurance on premiums written and earned
Gross Amount	284,323	288,809	242,517
Ceded to Other Companies	(103,478)	(103,786)	(86,629)
Assumed from Other Companies	4,857	9,657	5,706
Net Amount	$ 185,702	$ 194,680	$ 161,594

REINSURANCE - Receivables (Deta

REINSURANCE - Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Reinsurance
Reinsurance Receivable	$ 4,486,029	$ 4,800,891
Concentrated credit risk | Security Life of Denver Insurance Company | A
Reinsurance
Reinsurance Receivable	722,200	740,800
Concentrated credit risk | Swiss Re Life & Health America, Inc. | A Plus
Reinsurance
Reinsurance Receivable	603,800	614,800
Concentrated credit risk | Lincoln National Life Insurance Co. | A Plus
Reinsurance
Reinsurance Receivable	461,100	489,100
Concentrated credit risk | SCOR Global Life | A Plus
Reinsurance
Reinsurance Receivable	317,200	331,800
Concentrated credit risk | Transamerica Life Insurance Co. | A Plus
Reinsurance
Reinsurance Receivable	301,000	335,600
Concentrated credit risk | RGA Reinsurance Company | A Plus
Reinsurance
Reinsurance Receivable	260,500	278,300
Concentrated credit risk | American United Life Insurance Company | A Plus
Reinsurance
Reinsurance Receivable	242,800	266,700
Concentrated credit risk | Centre Reinsurance (Bermuda) Ltd
Reinsurance
Reinsurance Receivable	197,400	212,200
Concentrated credit risk | The Canada Life Assurance Company | A Plus
Reinsurance
Reinsurance Receivable	188,200	186,100
Concentrated credit risk | Employers Reassurance Corporation | B Plus
Reinsurance
Reinsurance Receivable	$ 178,400
Concentrated credit risk | Employers Reassurance Corporation | A Minus
Reinsurance
Reinsurance Receivable		$ 193,900

DEBT AND OTHER OBLIGATIONS - No

DEBT AND OTHER OBLIGATIONS - Non-Recourse Funding Obligations (Details) - USD ($)	Jan. 15, 2016	Oct. 10, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 03, 2018
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 2,888,329,000	$ 2,952,822,000
Repurchase of non-recourse funding obligations, at a discount			38,000,000
Payments under agreement			(63,890,000)	(16,070,000)	$ 2,169,700,000
2015 Credit Facility
Debt Instrument [Line Items]
Principal amount			1,000,000,000
Maximum borrowing capacity			$ 1,250,000,000
Facility fee rate			0.125%
Amended Line Of Credit
Debt Instrument [Line Items]
Principal amount			$ 1,000,000,000
Maximum borrowing capacity						$ 1,500,000,000
Facility fee rate			0.125%
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
Subordinated Debentures 3.55 Percent Due 2038
Debt Instrument [Line Items]
Interest rate			3.55%
Golden Gate Captive Insurance Company (Golden Gate)
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 1,883,000,000	$ 2,014,000,000
Fixed annual rate			4.75%	4.75%
Payments made under agreement			$ 0
Golden Gate II Captive Insurance Company (Golden Gate II)
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 273,535,000	$ 255,132,000
Fixed annual rate			4.24%	1.30%
Outstanding non-recourse funding obligations			$ 575,000,000
Non-recourse funding held by external parties			20,600,000
Non-recourse funding held by nonconsolidated affiliates			309,300,000
Non-recourse funding held by consolidated subsidiaries			245,100,000
Payments made under agreement			600,000
Collateralized obligations under supper agreements			4,900,000
Golden Gate V Vermont Captive Insurance Company And Red Mountain L L C
Debt Instrument [Line Items]
Term of transaction		20 years
Maximum financing under transaction		$ 945,000,000
Red Mountain
Debt Instrument [Line Items]
Initial principal amount		275,000,000
Future maximum financing amount		$ 945,000,000
Credit enhancement term		20 years
Principal balance of note			670,000,000
Payments under agreement			$ 0
Golden Gate V
Debt Instrument [Line Items]
Interest rate			6.25%
Non-recourse funding obligations			$ 729,454,000	$ 681,285,000
Fixed annual rate			5.12%	5.12%
Future scheduled capital contributions			$ 114,800,000
Outstanding non-recourse funding obligation			670,000,000
Maximum principal amount			945,000,000
Subordinated Debt | Subordinated Debentures 3.55 Percent Due 2038
Debt Instrument [Line Items]
Outstanding principal			110,000,000
Surplus Notes | Golden Gate | Steel City Notes
Debt Instrument [Line Items]
Amount of debt issued	2,188,000,000		$ 1,883,000,000
Surplus Notes | Steel City | Golden Gate Surplus Notes
Debt Instrument [Line Items]
Amount of debt issued	$ 2,188,000,000
Base Rate | 2015 Credit Facility
Debt Instrument [Line Items]
Variable rate			0.50%
Base Rate | Amended Line Of Credit
Debt Instrument [Line Items]
Variable rate			0.50%
LIBOR | 2015 Credit Facility
Debt Instrument [Line Items]
Variable rate			1.00%
LIBOR | Amended Line Of Credit
Debt Instrument [Line Items]
Variable rate			1.00%

DEBT AND OTHER OBLIGATIONS - _2

DEBT AND OTHER OBLIGATIONS - Non-Recourse Funding Obligations Outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Outstanding Principal	$ 2,884,040	$ 2,944,940
Carrying value	2,888,329	2,952,822
Golden Gate Captive Insurance Company (Golden Gate)
Debt Instrument [Line Items]
Outstanding Principal	1,883,000	2,014,000
Carrying value	$ 1,883,000	$ 2,014,000
Year-to-Date Weighted- Avg Interest Rate	4.75%	4.75%
Golden Gate II Captive Insurance Company (Golden Gate II)
Debt Instrument [Line Items]
Outstanding Principal	$ 329,949	$ 309,849
Carrying value	$ 273,535	$ 255,132
Year-to-Date Weighted- Avg Interest Rate	4.24%	1.30%
Golden Gate V
Debt Instrument [Line Items]
Outstanding Principal	$ 670,000	$ 620,000
Carrying value	$ 729,454	$ 681,285
Year-to-Date Weighted- Avg Interest Rate	5.12%	5.12%
MONY
Debt Instrument [Line Items]
Outstanding Principal	$ 1,091	$ 1,091
Carrying value	$ 2,340	$ 2,405
Year-to-Date Weighted- Avg Interest Rate	6.19%	6.19%

DEBT AND OTHER OBLIGATIONS - Le

DEBT AND OTHER OBLIGATIONS - Letters of Credit (Details) - Letter of Credit	12 Months Ended
	Dec. 31, 2018USD ($)installment	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 10, 2010USD ($)
Golden Gate III Vermont Captive Insurance Company (Golden Gate III) | Third Amended and Restated Reimbursement Agreement
Debt Instrument [Line Items]
Maximum increase of borrowing capacity			$ 935,000,000
Letter of credit outstanding	$ 860,000,000
Letter of credit term	15 years
Future scheduled capital contributions	$ 70,000,000
Number of installments in which future scheduled capital contributions is payable | installment	2
Golden Gate III Vermont Captive Insurance Company (Golden Gate III) | Reimbursement Agreement
Debt Instrument [Line Items]
Repayments of debt	$ 0
Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV)
Debt Instrument [Line Items]
Maximum LOC borrowing capacity				$ 270,000,000
Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV) | Reimbursement Agreement
Debt Instrument [Line Items]
Letter of credit outstanding	$ 770,000,000
Letter of credit term	12 years
Repayments of debt	$ 0
Maximum LOC borrowing capacity		$ 790,000,000

DEBT AND OTHER OBLIGATIONS - Se

DEBT AND OTHER OBLIGATIONS - Secured Financing Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Secured borrowings, percent of initial collateral required	102.00%
Securities lending transactions	$ 72,176	$ 125,271
Securities loaned, fair value of collateral	77,200
Repurchase Program Borrowings
Debt Instrument [Line Items]
Fair value of securities pledged under the repurchase program	451,900
Secured financing liabilities	$ 418,100
Reverse repurchase liability average interest rate (percent)	2.45%
Reverse repurchase maximum balance outstanding	$ 885,000	988,500
Reverse repurchase average daily balance	$ 511,400	$ 624,700
Reverse repurchase average daily balance at average interest rate (percent)	1.84%	1.01%
Repurchase Program Borrowings | Maximum
Debt Instrument [Line Items]
Term of financing agreement	90 days

DEBT AND OTHER OBLIGATIONS - Re

DEBT AND OTHER OBLIGATIONS - Repurchase Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 451,895	$ 1,006,607
Securities lending transactions	72,176	125,271
Total securities	524,071	1,131,878
U.S. government-related securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	451,895	307,633
Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	698,974
Corporate securities
Debt Instrument [Line Items]
Securities lending transactions	71,285	118,817
Equity securities
Debt Instrument [Line Items]
Securities lending transactions	891	5,699
Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	0	755
Overnight and Continuous
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	433,182	1,006,607
Securities lending transactions	72,176	125,271
Total securities	505,358	1,131,878
Overnight and Continuous | U.S. government-related securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	433,182	307,633
Overnight and Continuous | Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	698,974
Overnight and Continuous | Corporate securities
Debt Instrument [Line Items]
Securities lending transactions	71,285	118,817
Overnight and Continuous | Equity securities
Debt Instrument [Line Items]
Securities lending transactions	891	5,699
Overnight and Continuous | Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	0	755
Up to 30 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	18,713	0
Securities lending transactions	0	0
Total securities	18,713	0
Up to 30 days | U.S. government-related securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	18,713	0
Up to 30 days | Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Up to 30 days | Corporate securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
Up to 30 days | Equity securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
Up to 30 days | Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	0	0
30 - 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Securities lending transactions	0	0
Total securities	0	0
30 - 90 days | U.S. government-related securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
30 - 90 days | Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
30 - 90 days | Corporate securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
30 - 90 days | Equity securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
30 - 90 days | Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	0	0
Greater Than 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Securities lending transactions	0	0
Total securities	0	0
Greater Than 90 days | U.S. government-related securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Greater Than 90 days | Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Greater Than 90 days | Corporate securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
Greater Than 90 days | Equity securities
Debt Instrument [Line Items]
Securities lending transactions	0	0
Greater Than 90 days | Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	$ 0	$ 0

DEBT AND OTHER OBLIGATIONS - Sc

DEBT AND OTHER OBLIGATIONS - Schedule of Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Subordinated funding obligations	$ 2.6	$ 0	$ 0
Non-recourse funding obligations, other obligations, and repurchase agreements	181.9	177.7	170.8
Total interest expense	$ 184.5	$ 177.7	$ 170.8

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)city	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Operating leased assets
Outstanding mortgage loan commitments	$ 685.3	$ 572.3
Average rate (as a percent)	4.42%	4.14%
Administrative and marketing office space
Operating leased assets
Number of cities in which the company leases properties | city	17
Rental expense	$ 11.3	$ 11.7	$ 11.4
Aggregate annualized rent	$ 11.3
Administrative and marketing office space | Minimum
Operating leased assets
Lease period	1 year
Administrative and marketing office space | Maximum
Operating leased assets
Lease period	9 years
Building contiguous to home office
Operating leased assets
Approximate price for which the company may purchase building at the end of lease term	$ 75

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Future Minimum Rental Payments (Details) - Administrative and marketing office space $ in Thousands	Dec. 31, 2018USD ($)
Future minimum retail payments required under operating leases
2019	$ 5,454
2020	3,707
2021	3,393
2022	3,129
2023	3,171
Thereafter	$ 5,418

SHAREOWNER'S EQUITY (Details)

SHAREOWNER'S EQUITY (Details) - PLC - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details)	12 Months Ended
	Dec. 31, 2018
Qualified Plan | Qualified Pension Plan | PLC
EMPLOYEE BENEFIT PLANS
Threshold age plus vesting period of active employees to determine type of benefit eligibility	55 years

EMPLOYEE BENEFIT PLANS - Change

EMPLOYEE BENEFIT PLANS - Change in Projected Benefit Obligation, Fair Value of Plan Assets and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$ 10,978	$ 9,634
Service cost	153	122
Interest cost	366	354
Actuarial (gain)/loss	(1,045)	1,347
Benefits paid	(440)	(479)
Projected benefit obligation at end of year	10,012	10,978	$ 9,634
Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	269,802	278,084
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	300,423	265,848
Service cost	13,185	12,011	12,791
Interest cost	9,830	9,846	9,751
Amendments	0	0
Actuarial (gain)/loss	(15,608)	26,539
Benefits paid	(19,701)	(13,821)
Projected benefit obligation at end of year	288,129	300,423	265,848
Change in plan assets:
Fair value of plan assets at beginning of year	260,926	201,843
Actual return on plan assets	(6,070)	29,404
Employer contributions	18,800	43,500
Benefits paid	(19,701)	(13,821)
Fair value of plan assets at end of year	253,955	260,926	201,843
After reflecting FASB guidance:
Funded status	(34,174)	(39,497)
Amounts recognized in the balance sheet:
Other liabilities	(34,174)	(39,497)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain)/loss	10,370	2,850
Prior service cost/(credit)	0	0
Total amounts recognized in AOCI	10,370	2,850
Nonqualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	46,299	50,149
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	54,590	47,802
Service cost	1,415	1,350	1,413
Interest cost	1,436	1,480	1,353
Amendments	0	0
Actuarial (gain)/loss	(2,001)	7,861
Benefits paid	(8,095)	(3,903)
Projected benefit obligation at end of year	47,345	54,590	47,802
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	8,095	3,903
Benefits paid	(8,095)	(3,903)
Fair value of plan assets at end of year	0	0	$ 0
After reflecting FASB guidance:
Funded status	(47,345)	(54,590)
Amounts recognized in the balance sheet:
Other liabilities	(47,345)	(54,590)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain)/loss	9,025	13,521
Prior service cost/(credit)	0	0
Total amounts recognized in AOCI	$ 9,025	$ 13,521

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted Average Assumptions (Details) - Qualified Pension Plan	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Qualified Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	4.21%	3.55%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.55%	4.04%	4.29%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%	3.75%
Expected long-term return on plan assets (as a percent)	7.00%	7.00%	7.25%
Nonqualified Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.93%	3.26%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.25%	3.60%	3.63%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%	3.75%

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - Qualified Pension Plan - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Qualified Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period		$ 13,185	$ 12,011	$ 12,791
Interest cost on projected benefit obligation		9,830	9,846	9,751
Expected return on plan assets		(17,058)	(13,570)	(13,780)
Amortization of prior service cost/(credit)		0	0	0
Amortization of actuarial losses		0	0	0
Preliminary net periodic benefit cost		5,957	8,287	8,762
Settlement/curtailment expense		0	0	(964)
Total net periodic benefit cost		$ 5,957	8,287	7,798
Average remaining service period used		9 years 2 months 3 days
Nonqualified Plan
EMPLOYEE BENEFIT PLANS
Service cost — benefits earned during the period		$ 1,415	1,350	1,413
Interest cost on projected benefit obligation		1,436	1,480	1,353
Expected return on plan assets		0	0	0
Amortization of prior service cost/(credit)		0	0	0
Amortization of actuarial losses		969	634	178
Preliminary net periodic benefit cost		3,820	3,464	2,944
Settlement/curtailment expense		1,526	0	2,135
Total net periodic benefit cost		$ 5,346	$ 3,464	$ 5,079
Average remaining service period used	7 years 10 months 14 days	7 years 8 months 24 days
Expected amortization, next fiscal year	$ 600	$ 600

EMPLOYEE BENEFIT PLANS - Estima

EMPLOYEE BENEFIT PLANS - Estimated Future Benefit Payments (Details) - Qualified Pension Plan $ in Thousands	Dec. 31, 2018USD ($)
Qualified Plan
Estimated future benefit payments under defined benefit pension plan
2019	$ 19,544
2020	20,723
2021	21,153
2022	22,538
2023	22,765
2024 - 2028	120,355
Nonqualified Plan
Estimated future benefit payments under defined benefit pension plan
2019	6,788
2020	5,196
2021	5,286
2022	5,583
2023	4,754
2024 - 2028	$ 19,586

EMPLOYEE BENEFIT PLANS - Alloca

EMPLOYEE BENEFIT PLANS - Allocation of Defined Benefit Plan Assets (Details) - Qualified Plan - Qualified Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
EMPLOYEE BENEFIT PLANS
Employer contributions	$ 18,800	$ 43,500
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)	100.00%	100.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	100.00%	100.00%
Cash and cash equivalents
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)		2.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		15.00%
Equity securities
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)		60.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		55.00%
Fixed income
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)		38.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)		30.00%
Return-Seeking
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)	60.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	61.00%
Liability-Hedging Fixed Income
Target Allocation for 2017 of plan assets of defined benefit pension plan by category
Target allocation for 2017 (as a percent)	40.00%
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	39.00%

EMPLOYEE BENEFIT PLANS - Define

EMPLOYEE BENEFIT PLANS - Defined Benefit Plan Assets by Category (Details) - Qualified Plan - Qualified Pension Plan - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EMPLOYEE BENEFIT PLANS
Total investments	$ 253,955	$ 260,926	$ 201,843
Employer contribution receivable	0	0
Total	253,955	260,926
Cash and cash equivalents
EMPLOYEE BENEFIT PLANS
Total investments	1,225	39,897
Collective Russell 3000 index fund
EMPLOYEE BENEFIT PLANS
Total investments	70,599	74,511
Fidelity Spartan 500 index fund
EMPLOYEE BENEFIT PLANS
Total investments	46,300	71,632
Northern Trust ACWI ex-US Fund [Member]
EMPLOYEE BENEFIT PLANS
Total investments	41,924	0
Group deposit administration annuity contract
EMPLOYEE BENEFIT PLANS
Total investments	78,707	74,886
BlackRock Long Government Credit Bond Index Fund [Member]
EMPLOYEE BENEFIT PLANS
Total investments	$ 15,200	$ 0

EMPLOYEE BENEFIT PLANS - Plan A

EMPLOYEE BENEFIT PLANS - Plan Asset Fair Value (Details) - Qualified Plan - Qualified Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair value hierarchy of Plan's assets
Total investments	$ 260,926	$ 201,843
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	260,926	201,843
Fair value of plan assets at end of year	253,955	260,926
Cash
Fair value hierarchy of Plan's assets
Total investments	39,897	39,897
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	39,897
Fair value of plan assets at end of year	1,225	39,897
Equity securities
Fair value hierarchy of Plan's assets
Total investments	146,143	146,143
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	146,143
Fair value of plan assets at end of year	158,823	146,143
Fixed income
Fair value hierarchy of Plan's assets
Total investments	15,200
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at end of year	15,200
Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	74,886	74,886
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	74,886
Fair value of plan assets at end of year	78,707	74,886
Level 1
Fair value hierarchy of Plan's assets
Total investments	186,040	186,040
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	186,040
Fair value of plan assets at end of year	175,248	186,040
Level 1 | Cash
Fair value hierarchy of Plan's assets
Total investments	39,897	39,897
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	39,897
Fair value of plan assets at end of year	1,225	39,897
Level 1 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	146,143	146,143
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	146,143
Fair value of plan assets at end of year	158,823	146,143
Level 1 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	15,200
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at end of year	15,200
Level 1 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 2
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 2 | Cash
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 2 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 2 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at end of year	0
Level 2 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 3
Fair value hierarchy of Plan's assets
Total investments	74,886	71,226
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	74,886	71,226
Interest income	3,821	3,660
Transfers from collective short-term investments fund	0	0
Transfers to collective short-term investments fund	0	0
Fair value of plan assets at end of year	78,707	74,886
Level 3 | Cash
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 3 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	0	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Level 3 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at end of year	0
Level 3 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	74,886	74,886
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	74,886
Fair value of plan assets at end of year	$ 78,707	$ 74,886

EMPLOYEE BENEFIT PLANS - Level

EMPLOYEE BENEFIT PLANS - Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Qualified Pension Plan | Level 3 | Group deposit administration annuity contract | Contract Value | Minimum
Employee benefit plans
Contract rate (as a percent)	5.06%
Qualified Pension Plan | Level 3 | Group deposit administration annuity contract | Contract Value | Maximum
Employee benefit plans
Contract rate (as a percent)	5.14%
Group life insurance plan | Money market fund
Employee benefit plans
Fair value	$ 4,854	$ 5,104
Group life insurance plan | Money market fund | Level 1
Employee benefit plans
Fair value	4,854	5,104
Group life insurance plan | Money market fund | Level 2
Employee benefit plans
Fair value	0	0
Group life insurance plan | Money market fund | Level 3
Employee benefit plans
Fair value	0	0
Qualified Plan | Qualified Pension Plan
Employee benefit plans
Fair value	253,955	260,926	$ 201,843
Qualified Plan | Qualified Pension Plan | Level 1
Employee benefit plans
Fair value	175,248	186,040
Qualified Plan | Qualified Pension Plan | Level 2
Employee benefit plans
Fair value	0	0
Qualified Plan | Qualified Pension Plan | Level 3
Employee benefit plans
Fair value	78,707	74,886	$ 71,226
Qualified Plan | Qualified Pension Plan | Group deposit administration annuity contract
Employee benefit plans
Fair value	78,707	74,886
Qualified Plan | Qualified Pension Plan | Group deposit administration annuity contract | Level 1
Employee benefit plans
Fair value	0	0
Qualified Plan | Qualified Pension Plan | Group deposit administration annuity contract | Level 2
Employee benefit plans
Fair value	0	0
Qualified Plan | Qualified Pension Plan | Group deposit administration annuity contract | Level 3
Employee benefit plans
Fair value	$ 78,707	$ 74,886

EMPLOYEE BENEFIT PLANS - Qualif

EMPLOYEE BENEFIT PLANS - Qualified Pension Plan Funding Policy (Details) - Qualified Plan - Qualified Pension Plan	12 Months Ended
	Dec. 31, 2018USD ($)
EMPLOYEE BENEFIT PLANS
Adjusted funding target attainment percentage	80.00%
Adjusted funding target attainment percentage to be maintained	80.00%
Contribution to defined benefit pension plan for prior year	$ 18,800,000
Minimum
EMPLOYEE BENEFIT PLANS
Estimated future contribution to defined benefit pension plan	10,000,000
Maximum
EMPLOYEE BENEFIT PLANS
Estimated future contribution to defined benefit pension plan	$ 20,000,000

EMPLOYEE BENEFIT PLANS - Other

EMPLOYEE BENEFIT PLANS - Other Postretirement Benefits (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Other Postretirement Benefits | Maximum
EMPLOYEE BENEFIT PLANS
Age of eligibility for limited healthcare benefits	65 years
Group life insurance plan
EMPLOYEE BENEFIT PLANS
Face amount of life insurance benefits funded	$ 50,000
Benefit obligation, discount rate (as a percent)	4.38%
Net periodic benefit cost, discount rate (as a percent)	3.74%
Benefit obligation, expected long-term return on plan assets (as a percent)	2.75%
Period for which average and annualized return on short treasury index considered for long term rate of return assumption assessment	25 years
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

EMPLOYEE BENEFIT PLANS - 401(k)

EMPLOYEE BENEFIT PLANS - 401(k) Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Employee contribution, maximum percentage of eligible annual compensation	25.00%
Maximum annual contribution by employee	$ 18,500
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%
Expenses recorded due to adopting a cash match for employee contributions to the 401(k) plan	$ 9,200,000	$ 8,200,000
Amount of expenses recorded under a plan that provides supplemental matching contributions in excess of limits imposed	$ 1,300,000	$ 1,100,000	$ 600,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	$ 8,324,285	$ 6,739,674	$ 5,187,477
Cumulative effect adjustments		0
Balance	7,042,788	8,324,285	6,739,674	$ 5,187,477
Unrealized Gains and Losses on Investments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	23,069	(655,767)	(1,246,391)
Other comprehensive income (loss) before reclassifications	(1,411,674)	705,859	602,074
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(20,751)	391	(2,008)
Amounts reclassified from accumulated other comprehensive income (loss)	15,699	(944)	(9,442)
Cumulative effect adjustments	(10,552)	(26,470)
Balance	(1,404,209)	23,069	(655,767)	(1,246,391)
Offset of net unrealized losses in AOCI due to impact of net unrealized (loss) on insurance assets and liabilities if recognized as income	613,400	(6,300)	424,100	623,000
Accumulated Gain and Loss Derivative
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	747	727	0
Other comprehensive income (loss) before reclassifications	(1,884)	(563)	688
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	1,130	451	39
Cumulative effect adjustments	0	132
Balance	(7)	747	727	0
Total Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	23,816	(655,040)	(1,246,391)
Other comprehensive income (loss) before reclassifications	(1,413,558)	705,296	602,762
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(20,751)	391	(2,008)
Amounts reclassified from accumulated other comprehensive income (loss)	16,829	(493)	(9,403)
Cumulative effect adjustments	(10,552)	(26,338)
Balance	$ (1,404,216)	$ 23,816	$ (655,040)	$ (1,246,391)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded									$ (3,511,252)	$ (2,955,005)	$ (2,876,726)
Realized investment gains (losses): All other investments									(223,276)	121,087	90,630
Net impairment losses recognized in earnings	$ (26,060)	$ (14)	$ (5)	$ (3,645)	$ (853)	$ (273)	$ (2,785)	$ (5,201)	(29,724)	(9,112)	(17,748)
Tax (expense) or benefit	(24,728)	(16,646)	(8,626)	(3,661)	839,384	(49,016)	(43,654)	(28,305)	(53,661)	718,409	(170,073)
Net of tax	$ 44,860	$ 78,524	$ 52,268	$ 18,275	$ 917,480	$ 116,966	$ 89,632	$ 58,339	193,927	1,182,417	352,608
Gains and losses on derivative instruments | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded									(1,431)	(694)	(60)
Tax (expense) or benefit									301	243	21
Net of tax									(1,130)	(451)	(39)
Unrealized gains and losses on available-for-sale securities | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Realized investment gains (losses): All other investments									9,851	10,453	32,275
Net impairment losses recognized in earnings									(29,724)	(9,112)	(17,748)
Tax (expense) or benefit									4,174	(397)	(5,085)
Net of tax									$ (15,699)	$ 944	$ 9,442

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate and Components of Income Tax and Deferred Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective income tax rate related to continuing operations
Statutory federal income tax rate applied to pre-tax income (as a percent)	21.00%	35.00%	35.00%
State income taxes (as a percent)	4.20%	0.30%	0.60%
Investment income not subject to tax (as a percent)	(4.50%)	(4.70%)	(3.10%)
Prior period adjustments (as a percent)	1.60%	(1.10%)	(1.60%)
Federal Tax law changes (as a percent)	0.00%	(184.80%)	0.00%
Other (as a percent)	(0.60%)	0.50%	1.60%
Effective income tax rate (as a percent)	21.70%	(154.80%)	32.50%
Current income tax expense:
Federal	$ 113,925	$ 39,042	$ (41,244)
State	9,699	(2,477)	2,581
Total current	123,624	36,565	(38,663)
Deferred income tax expense:
Federal	(73,364)	(757,748)	204,810
State	3,401	2,774	3,926
Total deferred	(69,963)	(754,974)	208,736
Deferred income tax assets:
Loss and credit carryforwards	120,128	240,419
Deferred compensation	58,533	64,677
Deferred policy acquisition costs	113,959	23,113
Premium on non-recourse funding obligations	905	1,666
Net unrealized loss on investments	373,292	0
Valuation allowance	(1,589)	(3,682)
Deferred income tax assets	665,228	326,193
Deferred income tax liabilities:
Premium receivables and policy liabilities	339,555	538,465
VOBA and other intangibles	478,561	433,371
Invested assets (other than unrealized gains (losses))	720,108	701,070
Net unrealized gains on investments	0	6,175
Other	25,343	19,101
Deferred income tax liabilities	1,563,567	1,698,182
Net deferred income tax liability	(898,339)	(1,371,989)
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period	11,353	9,856	8,937
Additions for tax positions of the current year	0	1,857	2,122
Additions for tax positions of prior years	0	70	1,318
Reductions of tax positions of prior years:
Changes in judgment	(4,219)	(430)	(975)
Settlements during the period	0	0	(1,546)
Lapses of applicable statute of limitations	0	0	0
Balance, end of period	$ 7,134	$ 11,353	$ 9,856

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Provisional income tax expense (benefit)		$ (857,500,000)
State operating loss carryforwards, valuation allowance	$ 2,000,000	4,700,000
Change in valuation allowance, before federal income taxes	(2,700,000)
Loss carryforwards	558,700,000
Loss carryforward, subject to expiration	133,800,000
Loss carryforward, not subject to expiration	424,900,000
Unrecognized tax benefits with high certainty of deductibility but with uncertainty about the timing of deductions	0	700,000	$ 700,000
Amount of unrecognized tax benefits that would affect the effective income tax rate if recognized	7,100,000	10,700,000	9,200,000
Accrued interest related to the unrecognized tax benefits included in income tax expense	0	0	$ 0
Income tax examination, liability (refund) adjustment from settlement with taxing authority		$ (6,200,000)
Decrease in unrecognized tax benefits is reasonably possible	0
State jurisdiction
Operating Loss Carryforwards [Line Items]
Deferred tax asset, operating loss carryforwards	$ 12,500,000

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash paid / (received) during the year:
Interest expense	$ 186,295	$ 178,787	$ 142,463
Income taxes	$ 11,703	$ 20,507	$ 127,615

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
RELATED PARTY TRANSACTIONS
Payments to acquire a building at the end of the lease term	$ 75,000,000
Affiliates
RELATED PARTY TRANSACTIONS
Lease revenues	6,000,000	$ 6,200,000	$ 5,800,000
Cost of services	249,300,000	240,900,000	258,000,000
Intercompany payables	36,400,000	68,300,000
Intercompany receivables	11,300,000	26,100,000
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	6,800,000	6,800,000	7,200,000
Payment of Management Fee | Affiliates
RELATED PARTY TRANSACTIONS
Management fee for certain services provided	12,200,000	10,900,000
PLC
RELATED PARTY TRANSACTIONS
Guarantee of synthetic lease financing	75,000,000
PLC | Certain corporations with which the parent's directors were affiliated
RELATED PARTY TRANSACTIONS
Commission, interest on debt and investment products and fees	2,300,000	$ 2,400,000	$ 2,700,000
PLC | Shades Creek | Agreement to Provide Additional Capital | Affiliates
RELATED PARTY TRANSACTIONS
Management fee for certain services provided	$ 0

STATUTORY REPORTING PRACTICES_3

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details) - USD ($) $ in Millions	Jan. 15, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2019
Statutory Accounting Practices [Line Items]
Statutory net income		$ 321.1	$ 731.2	$ (391.6)
Statutory capital and surplus		4,300	$ 4,300
Gain on retrocession	$ 1,200
Consolidated shareowners' equity which represented net assets of the Company's insurance subsidiaries that is required to be maintained as minimum capital		1,500
Market value of fixed maturity and short-term investments of the company's subsidiaries deposited with regulatory authorities		$ 40.8
Scenario, Forecast
Statutory Accounting Practices [Line Items]
Net assets of the Company's insurance subsidiaries that are restricted from transfer (in dollars)					$ 154.8

STATUTORY REPORTING PRACTICES_4

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statutory Accounting Practices Disclosure of Favorable (Unfavorable) Effects of Statutory Surplus [Abstract]
Non-admission of goodwill	$ (181)	$ (219)
Total (net)	(181)	(219)
Insurance subsidiaries
Statutory Accounting Practices Disclosure of Favorable (Unfavorable) Effects on Statutory Surplus of Insurance Subsidiaries [Abstract]
Accounting for Letters of Credit as admitted assets	1,630	1,670
Accounting for certain notes as admitted assets	2,553	2,634
Reserving based on state specific actuarial practices	121	122
Reserving difference related to a captive insurance company	$ (50)	$ (37)

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summarized financial information for the company's segments
Revenues	$ 1,255,898	$ 1,269,963	$ 1,169,644	$ 1,063,511	$ 1,096,456	$ 1,105,392	$ 1,063,463	$ 1,047,356	$ 4,759,016	$ 4,312,667	$ 4,293,709
Pre-tax Adjusted Operating Income (Loss)									368,121	409,424	387,113
Realized gains (losses) on investments and derivatives									(120,533)	54,584	135,568
Income before income tax	69,588	95,170	60,894	21,936	78,096	165,982	133,286	86,644	247,588	464,008	522,681
Income tax expense (benefit)	24,728	16,646	8,626	3,661	(839,384)	49,016	43,654	28,305	53,661	(718,409)	170,073
Net income	44,860	78,524	52,268	18,275	917,480	116,966	89,632	58,339	193,927	1,182,417	352,608
Adjusted operating income tax (expense) benefit									(78,973)	737,513	(122,624)
After-tax adjusted operating income									289,148	1,146,937	264,489
Income tax (expense) benefit on adjustments									25,312	(19,104)	(47,449)
Realized investment (losses) gains:
Derivative financial instruments									79,097	(137,041)	49,790
Realized investment gains (losses) - investments									(223,276)	121,087	90,630
Net impairment losses recognized in earnings	(26,060)	(14)	(5)	(3,645)	(853)	(273)	(2,785)	(5,201)	(29,724)	(9,112)	(17,748)
Less: related amortization									(11,856)	(39,480)	24,360
Less: VA GMWB economic cost									(41,514)	(40,170)	(37,256)
Net investment income	639,115	$ 631,955	$ 578,414	$ 489,418	495,614	$ 477,011	$ 475,722	$ 474,709	2,338,902	1,923,056	1,823,463
Amortization of deferred policy acquisition costs and value of business acquired									226,066	79,443	150,298
Operating Segment Assets
Investments and other assets	84,918,374				75,451,948				84,918,374	75,451,948
DAC and VOBA	3,026,330				2,205,401				3,026,330	2,205,401	2,024,524
Other intangibles	612,854				662,916				612,854	662,916
Goodwill	825,511				793,470				825,511	793,470
Total assets	89,383,069				79,113,735				89,383,069	79,113,735
Life Marketing
Realized investment (losses) gains:
Net investment income									552,697	550,714	523,989
Amortization of deferred policy acquisition costs and value of business acquired									116,917	120,753	130,708
Operating Segment Assets
DAC and VOBA	1,499,386				1,320,776				1,499,386	1,320,776	1,218,944
Acquisitions
Realized investment (losses) gains:
Net investment income									1,108,218	752,520	764,571
Amortization of deferred policy acquisition costs and value of business acquired									18,690	(6,939)	8,178
Operating Segment Assets
DAC and VOBA	458,976				74,862				458,976	74,862	106,532
Annuities
Realized investment (losses) gains:
Net investment income									335,382	316,582	318,511
Amortization of deferred policy acquisition costs and value of business acquired									24,274	(54,471)	(11,031)
Operating Segment Assets
DAC and VOBA	889,697				772,633				889,697	772,633	655,618
Stable Value Products
Realized investment (losses) gains:
Net investment income									217,778	186,576	107,010
Amortization of deferred policy acquisition costs and value of business acquired									3,201	2,354	1,176
Operating Segment Assets
DAC and VOBA	6,121				6,864				6,121	6,864	5,455
Asset Protection
Realized investment (losses) gains:
Net investment income									25,070	22,298	17,591
Amortization of deferred policy acquisition costs and value of business acquired									62,984	17,746	21,267
Operating Segment Assets
DAC and VOBA	172,150				30,266				172,150	30,266	37,975
Corporate and Other
Realized investment (losses) gains:
Net investment income									99,757	94,366	91,791
Amortization of deferred policy acquisition costs and value of business acquired									0	0	0
Operating Segment Assets
DAC and VOBA	0				0				0	0	0
Operating
Summarized financial information for the company's segments
Revenues									4,759,016	4,312,667	4,293,709
Pre-tax Adjusted Operating Income (Loss)									368,121	409,424	387,113
Operating | Life Marketing
Summarized financial information for the company's segments
Revenues									1,567,857	1,556,207	1,517,542
Pre-tax Adjusted Operating Income (Loss)									(13,726)	55,152	41,457
Operating Segment Assets
Investments and other assets	14,607,822				14,917,752				14,607,822	14,917,752
DAC and VOBA	1,499,386				1,320,776				1,499,386	1,320,776
Other intangibles	262,181				281,705				262,181	281,705
Goodwill	215,254				200,274				215,254	200,274
Total assets	16,584,643				16,720,507				16,584,643	16,720,507
Operating | Acquisitions
Summarized financial information for the company's segments
Revenues									2,027,195	1,569,083	1,676,017
Pre-tax Adjusted Operating Income (Loss)									282,715	249,749	260,511
Operating Segment Assets
Investments and other assets	31,859,520				19,588,133				31,859,520	19,588,133
DAC and VOBA	458,977				74,862				458,977	74,862
Other intangibles	31,975				34,548				31,975	34,548
Goodwill	23,862				14,524				23,862	14,524
Total assets	32,374,334				19,712,067				32,374,334	19,712,067
Operating | Annuities
Summarized financial information for the company's segments
Revenues									478,114	486,847	547,512
Pre-tax Adjusted Operating Income (Loss)									129,155	171,269	174,362
Operating Segment Assets
Investments and other assets	20,160,279				20,774,566				20,160,279	20,774,566
DAC and VOBA	889,697				772,634				889,697	772,634
Other intangibles	156,785				170,117				156,785	170,117
Goodwill	343,247				336,677				343,247	336,677
Total assets	21,550,008				22,053,994				21,550,008	22,053,994
Operating | Stable Value Products
Summarized financial information for the company's segments
Revenues									219,501	190,006	114,580
Pre-tax Adjusted Operating Income (Loss)									102,328	105,261	61,294
Operating Segment Assets
Investments and other assets	5,107,334				4,569,639				5,107,334	4,569,639
DAC and VOBA	6,121				6,864				6,121	6,864
Other intangibles	7,389				8,056				7,389	8,056
Goodwill	113,924				113,813				113,924	113,813
Total assets	5,234,768				4,698,372				5,234,768	4,698,372
Operating | Asset Protection
Summarized financial information for the company's segments
Revenues									355,501	370,449	306,237
Pre-tax Adjusted Operating Income (Loss)									24,371	17,638	11,309
Operating Segment Assets
Investments and other assets	827,416				708,605				827,416	708,605
DAC and VOBA	172,149				30,265				172,149	30,265
Other intangibles	122,590				133,234				122,590	133,234
Goodwill	129,224				128,182				129,224	128,182
Total assets	1,251,379				1,000,286				1,251,379	1,000,286
Operating | Corporate and Other
Summarized financial information for the company's segments
Revenues									110,848	140,075	131,821
Pre-tax Adjusted Operating Income (Loss)									(156,722)	(189,645)	$ (161,820)
Operating Segment Assets
Investments and other assets	12,356,003				14,893,253				12,356,003	14,893,253
DAC and VOBA	0				0				0	0
Other intangibles	31,934				35,256				31,934	35,256
Goodwill	0				0				0	0
Total assets	$ 12,387,937				$ 14,928,509				$ 12,387,937	$ 14,928,509

CONSOLIDATED QUARTERLY RESULT_3

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Premiums and policy fees	$ 965,275	$ 871,892	$ 935,928	$ 883,413	$ 888,134	$ 849,743	$ 862,906	$ 855,579	$ 3,656,508	$ 3,456,362	$ 3,389,419
Reinsurance ceded	(378,112)	(267,910)	(391,864)	(345,624)	(377,261)	(326,572)	(344,208)	(319,055)	(1,383,510)	(1,367,096)	(1,330,723)
Net of reinsurance ceded	587,163	603,982	544,064	537,789	510,873	523,171	518,698	536,524	2,272,998	2,089,266	2,058,696
Net investment income	639,115	631,955	578,414	489,418	495,614	477,011	475,722	474,709	2,338,902	1,923,056	1,823,463
Realized investment gains (losses)	(24,005)	(46,866)	(32,583)	(40,725)	8,912	23,452	(10,259)	(38,059)	(173,903)	(25,066)	122,672
Net impairment losses recognized in earnings	(26,060)	(14)	(5)	(3,645)	(853)	(273)	(2,785)	(5,201)	(29,724)	(9,112)	(17,748)
Other income	79,685	80,906	79,754	80,674	81,910	82,031	82,087	79,383	321,019	325,411	288,878
Revenues	1,255,898	1,269,963	1,169,644	1,063,511	1,096,456	1,105,392	1,063,463	1,047,356	4,759,016	4,312,667	4,293,709
Total benefits and expenses	1,186,310	1,174,793	1,108,750	1,041,575	1,018,360	939,410	930,177	960,712	4,511,428	3,848,659	3,771,028
Income before income tax	69,588	95,170	60,894	21,936	78,096	165,982	133,286	86,644	247,588	464,008	522,681
Income tax expense	24,728	16,646	8,626	3,661	(839,384)	49,016	43,654	28,305	53,661	(718,409)	170,073
Net income	$ 44,860	$ 78,524	$ 52,268	$ 18,275	$ 917,480	$ 116,966	$ 89,632	$ 58,339	$ 193,927	$ 1,182,417	$ 352,608

SCHEDULE III - SUPPLEMENTARY _2

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	$ 3,026,330				$ 2,205,401				$ 3,026,330	$ 2,205,401	$ 2,024,524
Future Policy Benefits and Claims	41,900,618				30,956,792				41,900,618	30,956,792	30,510,242
Unearned Premiums	769,620				751,130				769,620	751,130	761,937
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	20,083,191				16,886,759				20,083,191	16,886,759	15,309,500
Net Premiums and Policy Fees	587,163	$ 603,982	$ 544,064	$ 537,789	510,873	$ 523,171	$ 518,698	$ 536,524	2,272,998	2,089,266	2,058,696
Net Investment Income									2,338,902	1,923,056	1,823,463
Benefits and Settlement Expenses									3,511,252	2,955,006	2,876,726
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									226,066	79,443	150,298
Other Operating Expenses									774,110	814,211	744,004
Premiums Written									215,431	228,565	200,173
Life Marketing
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	1,499,386				1,320,776				1,499,386	1,320,776	1,218,944
Future Policy Benefits and Claims	15,318,019				15,438,739				15,318,019	15,438,739	14,595,370
Unearned Premiums	98				107				98	107	119
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	422,037				424,204				422,037	424,204	426,422
Net Premiums and Policy Fees									1,043,228	1,011,911	972,247
Net Investment Income									552,697	550,714	523,989
Benefits and Settlement Expenses									1,412,001	1,319,138	1,267,844
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									116,917	120,753	130,708
Other Operating Expenses									69,758	60,877	65,480
Premiums Written									93	111	122
Acquisitions
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	458,976				74,862				458,976	74,862	106,532
Future Policy Benefits and Claims	25,427,730				14,323,713				25,427,730	14,323,713	14,693,744
Unearned Premiums	2,206				2,423				2,206	2,423	2,734
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	6,018,954				4,377,020				6,018,954	4,377,020	4,247,081
Net Premiums and Policy Fees									952,315	785,188	832,083
Net Investment Income									1,108,218	752,520	764,571
Benefits and Settlement Expenses									1,636,697	1,204,083	1,232,141
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									18,690	(6,939)	8,178
Other Operating Expenses									143,698	110,607	118,056
Premiums Written									13,864	15,964	18,818
Annuities
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	889,697				772,633				889,697	772,633	655,618
Future Policy Benefits and Claims	1,050,161				1,080,629				1,050,161	1,080,629	1,097,973
Unearned Premiums	0				0				0	0	0
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	8,324,931				7,308,354				8,324,931	7,308,354	7,059,060
Net Premiums and Policy Fees									71,321	73,617	66,214
Net Investment Income									335,382	316,582	318,511
Benefits and Settlement Expenses									223,912	216,324	212,735
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									24,274	(54,471)	(11,031)
Other Operating Expenses									148,615	146,407	137,617
Premiums Written									0	0	0
Stable Value Products
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	6,121				6,864				6,121	6,864	5,455
Future Policy Benefits and Claims	0				0				0	0	0
Unearned Premiums	0				0				0	0	0
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	5,234,731				4,698,371				5,234,731	4,698,371	3,501,636
Net Premiums and Policy Fees									0	0	0
Net Investment Income									217,778	186,576	107,010
Benefits and Settlement Expenses									109,747	74,578	41,736
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									3,201	2,354	1,176
Other Operating Expenses									2,798	4,407	3,033
Premiums Written									0	0	0
Asset Protection
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	172,150				30,266				172,150	30,266	37,975
Future Policy Benefits and Claims	51,702				55,030				51,702	55,030	59,947
Unearned Premiums	766,641				747,945				766,641	747,945	758,361
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	0				0				0	0	0
Net Premiums and Policy Fees									193,936	205,814	174,412
Net Investment Income									25,070	22,298	17,591
Benefits and Settlement Expenses									111,249	124,487	104,327
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									62,984	17,746	21,267
Other Operating Expenses									156,897	210,579	169,334
Premiums Written									189,283	199,741	167,544
Corporate and Other
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	0				0				0	0	0
Future Policy Benefits and Claims	53,006				58,681				53,006	58,681	63,208
Unearned Premiums	675				655				675	655	723
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	$ 82,538				$ 78,810				82,538	78,810	75,301
Net Premiums and Policy Fees									12,198	12,736	13,740
Net Investment Income									99,757	94,366	91,791
Benefits and Settlement Expenses									17,646	16,396	17,943
Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired									0	0	0
Other Operating Expenses									252,344	281,334	250,484
Premiums Written									$ 12,191	$ 12,749	$ 13,689

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Life insurance in-force
Gross Amount	$ 765,986,223	$ 751,512,468	$ 739,248,680
Ceded to Other Companies	(302,149,614)	(328,377,398)	(348,994,650)
Assumed from Other Companies	135,407,408	110,205,190	116,265,430
Net Amount	$ 599,244,017	$ 533,340,260	$ 506,519,460
Percentage of Amount Assumed to Net	23.00%	21.00%	23.00%
Premiums and policy fees:
Gross Amount	$ 3,012,542	$ 2,996,646	$ 2,911,275
Ceded to Other Companies	(1,383,510)	(1,367,096)	(1,330,723)
Assumed from Other Companies	643,966	459,716	478,144
Net Amount	2,272,998	2,089,266	2,058,696
Life insurance
Premiums and policy fees:
Gross Amount	2,681,191	2,655,846	2,610,682
Ceded to Other Companies	(1,249,906)	(1,230,258)	(1,207,159)
Assumed from Other Companies	626,283	435,113	454,999
Net Amount	$ 2,057,568	$ 1,860,701	$ 1,858,522
Percentage of Amount Assumed to Net	30.40%	23.40%	24.50%
Annuity policy fees	$ 177,100	$ 173,500	$ 80,100
Accident/health insurance
Premiums and policy fees:
Gross Amount	47,028	51,991	58,076
Ceded to Other Companies	(30,126)	(33,052)	(36,935)
Assumed from Other Companies	12,826	14,946	17,439
Net Amount	$ 29,728	$ 33,885	$ 38,580
Percentage of Amount Assumed to Net	43.10%	44.10%	45.20%
Property and liability insurance
Premiums and policy fees:
Gross Amount	$ 284,323	$ 288,809	$ 242,517
Ceded to Other Companies	(103,478)	(103,786)	(86,629)
Assumed from Other Companies	4,857	9,657	5,706
Net Amount	$ 185,702	$ 194,680	$ 161,594
Percentage of Amount Assumed to Net	2.60%	5.00%	3.50%

SCHEDULE V - VALUATION AND QU_2

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowance for losses on commercial mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Changes in valuation and qualifying accounts
Balance at beginning of period	$ 0	$ 724
Additions, Charged to costs and expenses	(209)	(7,439)
Additions, Charges to other accounts	0	0
Deductions	1,505	6,715
Balance at end of period	$ 1,296	$ 0

Uncategorized Items - plico-201

Label	Element	Value
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (10,552,000)