Protective Life Insurance 10-Q 10 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 01, 2015
Document and Entity Information
Entity Registrant Name	PROTECTIVE LIFE INSURANCE CO
Entity Central Index Key	310,826
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		5,000,000
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums and policy fees		$ 793,572		$ 2,128,016
Reinsurance ceded		(312,256)		(810,265)
Net of reinsurance ceded		481,316		1,317,751
Net investment income		413,544		1,093,902
Realized investment gains (losses):
Derivative financial instruments		41,895		47,513
All other investments		5,309		(132,094)
Other-than-temporary impairment losses		(14,906)		(28,301)
Portion recognized in other comprehensive income (before taxes)		4,842		12,503
Net impairment losses recognized in earnings		(10,064)		(15,798)
Other income		74,671		199,311
Total revenues		1,006,671		2,510,585
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $265,315 and $685,256); (2015 Predecessor - $87,830; 2014 Predecessor - three months: $217,179; nine months: $849,151)		674,815		1,853,631
Amortization of deferred policy acquisition costs and value of business acquired		8,979		77,363
Other operating expenses, net of reinsurance ceded: (2015 Successor - $51,174 and $138,013); (2015 Predecessor - $17,700; 2014 Predecessor - three months: $49,909; nine months: $141,502)		166,756		434,501
Total benefits and expenses		850,550		2,365,495
Income (loss) before income tax		156,121		145,090
Income tax (benefit) expense		42,542		40,667
Net income (loss)		$ 113,579		$ 104,423
Predecessor
Revenues
Premiums and policy fees	$ 260,582		$ 755,300		$ 2,415,806
Reinsurance ceded	(91,632)		(283,104)		(964,865)
Net of reinsurance ceded	168,950		472,196		1,450,941
Net investment income	164,605		532,861		1,572,474
Realized investment gains (losses):
Derivative financial instruments	22,031		41,769		(34,425)
All other investments	81,153		(116)		152,496
Other-than-temporary impairment losses	(636)		(1,142)		(2,026)
Portion recognized in other comprehensive income (before taxes)	155		(1,212)		(3,379)
Net impairment losses recognized in earnings	(481)		(2,354)		(5,405)
Other income	23,388		72,404		209,214
Total revenues	459,646		1,116,760		3,345,295
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $265,315 and $685,256); (2015 Predecessor - $87,830; 2014 Predecessor - three months: $217,179; nine months: $849,151)	266,575		628,527		2,102,596
Amortization of deferred policy acquisition costs and value of business acquired	4,817		140,517		266,572
Other operating expenses, net of reinsurance ceded: (2015 Successor - $51,174 and $138,013); (2015 Predecessor - $17,700; 2014 Predecessor - three months: $49,909; nine months: $141,502)	55,407		163,596		467,781
Total benefits and expenses	326,799		932,640		2,836,949
Income (loss) before income tax	132,847		184,120		508,346
Income tax (benefit) expense	44,325		62,287		167,921
Net income (loss)	$ 88,522		$ 121,833		$ 340,425

CONSOLIDATED CONDENSED STATEME3

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Benefits and settlement expenses, reinsurance ceded		$ 265,315		$ 685,256
Other operating expenses, reinsurance ceded		$ 51,174		$ 138,013
Predecessor
Benefits and settlement expenses, reinsurance ceded	$ 87,830		$ 217,179		$ 849,151
Other operating expenses, reinsurance ceded	$ 17,700		$ 49,909		$ 141,502

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss)		$ 113,579		$ 104,423
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax:(2015 Successor - $(25,285) and $(506,797)); (2015 Predecessor - $259,616; 2014 Predecessor - three months: $(46,077); nine months: $429,653)		(46,958)		(941,196)
Reclassification adjustment for investment amounts included in net income, net of income tax: (2015 Successor - $3,961 and $4,664); (2015 Predecessor -$(2,244); 2014 Predecessor - three months: $(6,962); nine months - $(15,543))		7,356		8,664
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: (2015 Successor - $781 and $(1,677)); 2015 Predecessor - $(131); 2014 Predecessor - three months: $561; nine months: $2,419)		1,451		(3,115)
Change in accumulated (loss) gain - derivatives, net of income tax: (2015 Successor - $0 and $(45)); 2015 Predecessor - $5; 2014 Predecessor - three months: $(22); nine months: $(31))				(86)
Reclassification adjustment for derivative amounts included in net income, net of income tax: (2015 Successor - $0 and $45); 2015 Predecessor - $13; 2014 Predecessor - three months: $103; nine months: $552)				86
Total other comprehensive income (loss)		(38,151)		(935,647)
Total comprehensive income (loss)		$ 75,428		$ (831,224)
Predecessor
Net income (loss)	$ 88,522		$ 121,833		$ 340,425
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax:(2015 Successor - $(25,285) and $(506,797)); (2015 Predecessor - $259,616; 2014 Predecessor - three months: $(46,077); nine months: $429,653)	482,143		(85,574)		797,925
Reclassification adjustment for investment amounts included in net income, net of income tax: (2015 Successor - $3,961 and $4,664); (2015 Predecessor -$(2,244); 2014 Predecessor - three months: $(6,962); nine months - $(15,543))	(4,166)		(12,928)		(28,864)
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: (2015 Successor - $781 and $(1,677)); 2015 Predecessor - $(131); 2014 Predecessor - three months: $561; nine months: $2,419)	(243)		1,044		4,494
Change in accumulated (loss) gain - derivatives, net of income tax: (2015 Successor - $0 and $(45)); 2015 Predecessor - $5; 2014 Predecessor - three months: $(22); nine months: $(31))	9		(41)		(58)
Reclassification adjustment for derivative amounts included in net income, net of income tax: (2015 Successor - $0 and $45); 2015 Predecessor - $13; 2014 Predecessor - three months: $103; nine months: $552)	23		190		1,025
Total other comprehensive income (loss)	477,766		(97,309)		774,522
Total comprehensive income (loss)	$ 566,288		$ 24,524		$ 1,114,947

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Change in net unrealized gains (losses) on investments, income tax		$ (25,285)		$ (506,797)
Reclassification adjustment for investment amounts included in net income, income tax		3,961		4,664
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax		781		(1,677)
Change in accumulated (loss) gain - derivatives, income tax		0		(45)
Reclassification adjustment for derivative amounts included in net income, income tax		$ 0		$ 45
Predecessor
Change in net unrealized gains (losses) on investments, income tax	$ 259,616		$ (46,077)		$ 429,653
Reclassification adjustment for investment amounts included in net income, income tax	(2,244)		(6,962)		(15,543)
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(131)		561		2,419
Change in accumulated (loss) gain - derivatives, income tax	5		(22)		(31)
Reclassification adjustment for derivative amounts included in net income, income tax	$ 13		$ 103		$ 552

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Fixed maturities, at fair value (amortized cost: 2015 Successor - $37,813,135; 2014 Predecessor - $33,716,848)	$ 35,601,843
Fixed maturities, at amortized cost (fair value: 2015 Successor - $518,363; 2014 Predecessor - $485,422)	579,329
Equity securities, at fair value (cost: 2015 Successor - $692,622; 2014 Predecessor - $735,297)	684,696
Mortgage loans (related to securitizations: 2015 Successor - $382,738; 2014 Predecessor - $455,250)	5,728,237
Investment real estate, net of accumulated depreciation (2015 Successor - $86; 2014 Predecessor - $246)	7,515
Policy loans	1,706,402
Other long-term investments	619,743
Short-term investments	233,337
Total investments	45,161,102
Cash	517,900
Accrued investment income	483,095
Accounts and premiums receivable	55,890
Reinsurance receivables	5,356,738
Deferred policy acquisition costs and value of business acquired	1,469,723
Goodwill	735,712
Other intangibles, net of accumulated amortization (2015 Successor - $27,541)	655,459
Property and equipment, net of accumulated depreciation (2015 Successor - $5,662; 2014 Predecessor - $116,688)	102,723
Other assets	249,821
Assets related to separate accounts
Variable annuity	12,646,751
Variable universal life	792,800
Total assets	68,227,714
Liabilities
Future policy benefits and claims	29,734,319
Unearned premiums	665,546
Total policy liabilities and accruals	30,399,865
Stable value product account balances	1,914,093
Annuity account balances	10,754,799
Other policyholders' funds	1,128,486
Other liabilities	1,320,797
Income tax payable	65,010
Deferred income taxes	1,362,328
Non-recourse funding obligations	1,939,078
Repurchase program borrowings	455,718
Liabilities related to separate accounts
Variable annuity	12,646,751
Variable universal life	792,800
Total liabilities	$ 62,779,725
Commitments and contingencies - Note 10
Shareowner's equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000	$ 2
Common Stock, $1 par value, shares authorized and issued: 2015 and 2014 - 5,000,000	5,000
Additional paid-in-capital	6,274,211
Retained earnings (deficit)	104,423
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2015 Successor - $(502,133); 2014 Predecessor - $796,488)	(932,532)
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2015 Successor -$(1,677); 2014 Predecessor -$2,208)	(3,115)
Total shareowner's equity	5,447,989
Total liabilities and shareowner's equity	$ 68,227,714
Predecessor
Assets
Fixed maturities, at fair value (amortized cost: 2015 Successor - $37,813,135; 2014 Predecessor - $33,716,848)		$ 36,756,240
Fixed maturities, at amortized cost (fair value: 2015 Successor - $518,363; 2014 Predecessor - $485,422)		435,000
Equity securities, at fair value (cost: 2015 Successor - $692,622; 2014 Predecessor - $735,297)		756,790
Mortgage loans (related to securitizations: 2015 Successor - $382,738; 2014 Predecessor - $455,250)		5,133,780
Investment real estate, net of accumulated depreciation (2015 Successor - $86; 2014 Predecessor - $246)		5,918
Policy loans		1,758,237
Other long-term investments		491,282
Short-term investments		246,717
Total investments		45,583,964
Cash		268,286
Accrued investment income		474,095
Accounts and premiums receivable		81,137
Reinsurance receivables		5,907,662
Deferred policy acquisition costs and value of business acquired		3,155,046
Goodwill		77,577
Property and equipment, net of accumulated depreciation (2015 Successor - $5,662; 2014 Predecessor - $116,688)		51,760
Other assets		398,574
Income tax receivable		1,648
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets		69,992,118
Liabilities
Future policy benefits and claims		29,944,477
Unearned premiums		1,515,001
Total policy liabilities and accruals		31,459,478
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Other policyholders' funds		1,430,325
Other liabilities		1,178,962
Deferred income taxes		1,611,864
Non-recourse funding obligations		1,527,752
Repurchase program borrowings		50,000
Liabilities related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total liabilities		$ 64,160,967
Commitments and contingencies - Note 10
Shareowner's equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000		$ 2
Common Stock, $1 par value, shares authorized and issued: 2015 and 2014 - 5,000,000		5,000
Additional paid-in-capital		1,437,787
Retained earnings (deficit)		2,905,151
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2015 Successor - $(502,133); 2014 Predecessor - $796,488)		1,479,192
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2015 Successor -$(1,677); 2014 Predecessor -$2,208)		4,101
Accumulated loss - derivatives, net of income tax: (2015 Successor - $0; 2014 Predecessor - $(45))		(82)
Total shareowner's equity		5,831,151
Total liabilities and shareowner's equity		$ 69,992,118

CONSOLIDATED CONDENSED BALANCE7

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fixed maturities, amortized cost	$ 37,813,135,000
Fixed maturities, fair value	518,363,000
Equity securities, cost	692,622,000
Mortgage loans, securitizations	382,738,000
Investment real estate, accumulated depreciation	86,000
Other intangibles, accumulated amortization	27,541,000
Property and equipment, accumulated depreciation	$ 5,662,000
Preferred Stock, par value (in dollars per share)	$ 1
Preferred Stock, shares authorized (in shares)	2,000
Preferred Stock, Liquidation preference	$ 2,000
Common Stock, par value (in dollars per share)	$ 1
Common Stock, shares authorized (in shares)	5,000,000
Common Stock, shares issued (in shares)	5,000,000
Net unrealized gains on investments, income tax	$ (502,133,000)
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(1,677,000)
Accumulated loss - derivatives, income tax	$ 0
Predecessor
Fixed maturities, amortized cost		$ 33,716,848,000
Fixed maturities, fair value		485,422,000
Equity securities, cost		735,297,000
Mortgage loans, securitizations		455,250,000
Investment real estate, accumulated depreciation		246,000
Property and equipment, accumulated depreciation		$ 116,688,000
Preferred Stock, par value (in dollars per share)		$ 1
Preferred Stock, shares authorized (in shares)		2,000
Preferred Stock, Liquidation preference		$ 2,000
Common Stock, par value (in dollars per share)		$ 1
Common Stock, shares authorized (in shares)		5,000,000
Common Stock, shares issued (in shares)		5,000,000
Net unrealized gains on investments, income tax		$ 796,488,000
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax		2,208,000
Accumulated loss - derivatives, income tax		$ (45,000)

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF SHAREOWNER'S EQUITY - USD ($) $ in Thousands	Preferred stocks	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss).	Total
Balance (Predecessor) at Dec. 31, 2013					$ 538,966
Increase (decrease) in shareowner's equity
Other comprehensive income (loss) | Predecessor					944,245
Balance (Predecessor) at Dec. 31, 2014	$ 2	$ 5,000	$ 1,437,787	$ 2,905,151	1,483,211	$ 5,831,151
Increase (decrease) in shareowner's equity
Net income (loss) | Predecessor				88,522		88,522
Other comprehensive income (loss) | Predecessor					477,766	477,766
Total comprehensive income (loss) | Predecessor						566,288
Balance (Predecessor) at Jan. 31, 2015	2	5,000	1,437,787	2,993,673	1,960,977	6,397,439
Balance at Jan. 31, 2015	2	5,000	6,504,211			6,509,213
Increase (decrease) in shareowner's equity
Net income (loss)				104,423		104,423
Other comprehensive income (loss)					(935,647)	(935,647)
Total comprehensive income (loss)						(831,224)
Return of capital			(230,000)			(230,000)
Balance at Sep. 30, 2015	$ 2	$ 5,000	$ 6,274,211	$ 104,423	$ (935,647)	$ 5,447,989

CONSOLIDATED CONDENSED STATEME9

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	1 Months Ended	8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income (loss)		$ 104,423
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)		100,379
Amortization of deferred policy acquisition costs and value of business acquired		77,363
Capitalization of deferred policy acquisition costs		(210,162)
Depreciation and amortization expense		33,254
Deferred income tax		4,555
Accrued income tax		115,127
Interest credited to universal life and investment products		521,760
Policy fees assessed on universal life and investment products		(756,276)
Change in reinsurance receivables		181,899
Change in accrued investment income and other receivables		16,984
Change in policy liabilities and other policyholders' funds of traditional life and health products		(157,729)
Trading securities:
Maturities and principal reductions of investments		90,548
Sale of investments		107,035
Cost of investments acquired		(174,455)
Other net change in trading securities		66,189
Amortization of premiums and accretion of discounts on investments and mortgage loans		287,977
Change in other liabilities		23,500
Other, net		(39,211)
Net cash provided by operating activities		393,160
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale		756,207
Sale of investments, available-for-sale		1,152,725
Cost of investments acquired, available-for-sale		(2,316,843)
Change in investments, held-to-maturity		(50,000)
Mortgage loans:
New lendings		(1,101,820)
Repayments		894,164
Change in investment real estate, net		(59)
Change in policy loans, net		45,470
Change in other long-term investments, net		(76,572)
Change in short-term investments, net		22,703
Net unsettled security transactions		(30,877)
Purchase of property and equipment		(5,700)
Net cash (used in) provided by investing activities		(710,602)
Cash flows from financing activities
Issuance (repayment) of non-recourse funding obligations		50,000
Repurchase program borrowings		405,718
Dividends/Return of capital to parent company		(230,000)
Investment product deposits and change in universal life deposits		1,951,647
Investment product withdrawals		(1,720,926)
Net cash provided by (used in) financing activities		456,439
Change in cash		138,997
Cash at beginning of period		378,903
Cash at end of period	$ 378,903	517,900
Predecessor
Cash flows from operating activities
Net income (loss)	88,522		$ 340,425
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)	(102,703)		(112,666)
Amortization of deferred policy acquisition costs and value of business acquired	4,817		266,572
Capitalization of deferred policy acquisition costs	(22,799)		(219,157)
Depreciation and amortization expense	796		5,461
Deferred income tax	91,709		29,556
Accrued income tax	(48,469)		(16,247)
Interest credited to universal life and investment products	79,088		663,117
Policy fees assessed on universal life and investment products	(90,288)		(729,929)
Change in reinsurance receivables	(98,148)		65,051
Change in accrued investment income and other receivables	(1,285)		(28,075)
Change in policy liabilities and other policyholders' funds of traditional life and health products	176,119		4,862
Trading securities:
Maturities and principal reductions of investments	17,946		71,646
Sale of investments	26,422		187,829
Cost of investments acquired	(27,289)		(160,134)
Other net change in trading securities	(26,901)		(43,699)
Amortization of premiums and accretion of discounts on investments and mortgage loans	3,420		42,717
Change in other liabilities	211,031		256,769
Other income - gains on repurchase of non-recourse funding obligations			(1,500)
Other, net	(133,928)		(84,508)
Net cash provided by operating activities	148,060		538,090
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale	59,028		941,989
Sale of investments, available-for-sale	200,716		1,485,538
Cost of investments acquired, available-for-sale	(150,030)		(3,055,927)
Change in investments, held-to-maturity			(50,000)
Mortgage loans:
New lendings	(100,530)		(649,125)
Repayments	45,741		908,364
Change in investment real estate, net	7		4,840
Change in policy loans, net	6,365		48,516
Change in other long-term investments, net	(25,372)		(69,720)
Change in short-term investments, net	(39,312)		(22,401)
Net unsettled security transactions	37,510		8,243
Purchase of property and equipment	(648)		(6,160)
Payments for business acquisitions			(906)
Net cash (used in) provided by investing activities	33,475		(456,749)
Cash flows from financing activities
Issuance (repayment) of non-recourse funding obligations			44,000
Repurchase program borrowings			9,804
Dividends/Return of capital to parent company			(225,000)
Investment product deposits and change in universal life deposits	169,233		2,415,424
Investment product withdrawals	(240,147)		(2,461,200)
Other financing activities, net	(4)		(33)
Net cash provided by (used in) financing activities	(70,918)		(217,005)
Change in cash	110,617		(135,664)
Cash at beginning of period	268,286	$ 378,903	345,579
Cash at end of period	$ 378,903		$ 209,915

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. 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 (“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. PLC is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. The Merger was accounted for by PLC under the acquisition method of accounting under ASC Topic 805 Business Combinations. In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. PLC elected to apply “pushdown” accounting by applying the guidance allowed by ASC Topic 805, Business Combinations, including the initial recognition of most of PLC’s assets and liabilities at fair value as of the acquisition date, and similarly recognizing goodwill calculated based on the terms of the transaction and the fair value of the new basis of net assets of PLC. The new basis of accounting will be the basis of the accounting records in the preparation of future financial statements and related disclosures after the Merger date. Goodwill of $735.7 million was recorded as of the acquisition date which represents the cost in excess of the fair value of PLC’s net assets acquired (including identifiable intangibles) in the Merger, and reflects the Company’s assembled workforce, future growth potential and other sources of value not associated with identifiable assets. The Merger was accounted for by the Company in a manner consistent with that utilized by PLC. In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. In conjunction with PLC’s and the Company’s election to apply “pushdown” accounting to reflect the impact of the transaction and the new basis of net assets recorded as of February 1, 2015, the entire amount of goodwill and other identifiable intangible assets recognized by PLC were allocated to the Company. This was supported by the fact that the Company is the primary operating subsidiary of PLC and the workforce, distribution and sales organization, current and future policy and portfolio cash flows, and other items for which the transaction was primarily based are consistent between PLC and Company. As such, the entire balance of goodwill of $735.7 million is included in the new basis of net assets of the Company. The new basis of accounting will be the basis of the accounting records in the preparation of future financial statements and related disclosures after the Merger date. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for the interim periods presented herein. Such accounting principles differ from statutory reporting practices used by insurance companies in reporting to state regulatory authorities. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements reflect all adjustments (consisting only of normal recurring items) necessary for a fair statement of the results for the interim periods presented. Operating results for the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2015 (Successor Company). The year-end consolidated condensed financial data included herein was derived from audited financial statements but does not include all disclosures required by GAAP within this report. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (Predecessor Company). 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. Reclassifications Certain reclassifications have been made in the previously reported financial statements and accompanying notes to make the prior year amounts comparable to those of the current year. Such reclassifications had no effect on previously reported net income or shareowner’s equity. Entities Included The consolidated condensed financial statements for the predecessor and successor periods presented in this report include the accounts of Protective Life Insurance Company and its affiliate companies in which the Company holds a majority voting or economic interest. Intercompany balances and transactions have been eliminated.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Significant Accounting Policies For a full description of significant accounting policies, see Note 2 to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (Predecessor Company). Other than the accounting matters resulting from the application of pushdown accounting in connection with ASC Topic 805, the Company did not make significant changes to accounting policies during the period of February 1, 2015 to September 30, 2015 (Successor Company) except as noted below. Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, and technology. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Value of Business Acquired In conjunction with the Merger, a portion of the purchase price was allocated to the right to receive future gross profits from cash flows and earnings of the Company’s insurance policies and investment contracts as of the date of the Merger. This intangible asset, called value of business acquired (“VOBA”), is based on the actuarially estimated present value of future cash flows from the Company’s insurance policies and investment contracts in-force on the date of the Merger. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins (“EGMs”) for participating traditional life products within the MONY block. For interest sensitive products, the Company uses various amortization bases including expected gross profits (“EGPs”), revenues, or insurance in-force. Goodwill Goodwill of $735.7 million was recognized in conjunction with the Merger as the excess of the purchase considerations over the fair value of PLC’s identifiable assets acquired and liabilities assumed. 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. Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value 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 carrying amounts of the Company’s fixed assets are as follows: Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Home office building $ $ Land — Data processing equipment Other, principally furniture and equipment Total property and equipment Less: accumulated depreciation Net property and equipment $ $ Guaranteed Minimum Withdrawal Benefits The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current implied volatilities for the equity indices. The fair value of the GMWB is impacted by equity market conditions and can result in the GMWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GMWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GMWB embedded derivative liability. The methods used to estimate the embedded derivatives employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. In conjunction with the Merger, the Company updated the fair value of the GMWB reserves to reflect current assumptions as of February 1, 2015 (Successor Company). As a result of the application of ASC Topic 805, the Company reset the hedge premium rates utilized in the valuation for all policies to be equal to the present value of future claims with the reset hedge premium rates being capped at the actual charges to the policyholder. This update resulted in a decrease in the net liability of approximately $69.4 million on the Merger date. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance Company (“Shades Creek”), a direct wholly owned subsidiary of PLC. As of September 30, 2015 (Successor Company), the net GMWB liability held, including the impact of reinsurance was approximately $14.5 million. Policyholder Liabilities Insurance Liabilities and Reserves In conjunction with the Merger and in accordance with ASC 805, insurance liabilities and reserves were recorded at fair value and the underlying contracts were considered to be new contracts, for measurement and reporting purposes as of the acquisition date. 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. As such, at the acquisition date, the Company updated the assumptions described above to reflect current best estimates and reserves were calculated in accordance with the methodology described below. VOBA was recorded to reflect the difference between the fair value of the contractual insurance liability and the reserve established. 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. These values were computed using assumptions that include interest rates, mortality, lapse rates, expenses 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. The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. 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. 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. 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 will be 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 15, Fair Value of Financial Instruments . Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned. The Company currently markets a deferred fixed annuity with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB’s ASC Topic 815— Derivatives and Hedging . The Company did not elect to value these FIA products at fair value prior to the Merger date. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944— Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company markets universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815— Derivatives and Hedging . The Company did not elect to value these IUL products at fair value prior to the Merger date. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments . For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 15, Fair Value of Financial Instruments . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944— Financial Services—Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company’s accounting policies with respect to variable universal life (“VUL”) and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts. The Company establishes liabilities for guaranteed minimum death benefits (“GMDB”) on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Future declines in the equity market would increase the Company’s GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. Our GMDB, as of September 30, 2015 (Successor Company), are subject to a dollar-for-dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. The Company reinsures certain risks associated with the GMDB to Shades Creek. As of September 30, 2015 (Successor Company), the GMDB reserve, including the impact of reinsurance was $29.2 million. Property and Casualty Insurance Products Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP”). Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported (“IBNR”) reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends. Reinsurance 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 Assets and Liabilities —Claim liabilities and policy benefits are calculated consistently for all policies, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. The reinsurance receivables were recorded in the balance sheet using current accounting policies and the most current assumptions as of the merger date. As of the merger date, the Company also calculated the ceded VOBA associated with the reinsured policies. The reinsurance receivables combined with the associated ceded VOBA represent the fair value of the reinsurance assets. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed by the Company’s actuarial staff to ensure that appropriate amounts are ceded. The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit. Accounting Pronouncements Recently Adopted Accounting Standards Update (“ASU”) No. 2014-08—Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity. This Update changes the requirements for reporting discontinued operations and related disclosures. The Update limits the definition of a discontinued operation to disposals that represent “strategic shifts” that will have a major effect on an entity’s operation and financial results. Additionally, the Update requires enhanced disclosures about the components of discontinued operations and the financial effects of the disposal. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Company has reviewed the additional disclosures required by the Update, and will apply the revised guidance to any disposals occurring after the effective date. ASU No. 2014-11—Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. This Update changes the requirements for classification of certain repurchase agreements, and will expand the use of secured borrowing accounting for repurchase-to-maturity transactions. In addition, the Update requires additional disclosures for repurchase agreements accounted for both as sales and as secured borrowings. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Update did not impact the Company’s financial position or results of operations. The Company has updated its policies and processes to ensure compliance with the additional disclosure requirements in this Update. ASU No. 2014-17—Business Combinations (Topic 805). This Update relates to “pushdown accounting”, which refers to pushing down the acquirer’s accounting and reporting basis (which is recognized in conjunction with its accounting for a business combination) to the acquiree’s standalone financial statements. The new guidance makes pushdown accounting optional for an acquiree that is a business or nonprofit activity when there is a change-in- control event (e.g., the acquirer in a business combination obtains control over the acquiree). In addition, the staff of the SEC released Staff Accounting Bulletin (“SAB”) No. 115, which rescinds SAB Topic 5J, “New Basis of Accounting Required in Certain Circumstances” (the SEC staff’s pre-existing guidance on pushdown accounting) and conforms SEC guidance on pushdown accounting to the FASB’s new guidance. Revised SEC guidance was codified in ASU No. 2015-08, issued in May 2015. The new pushdown accounting guidance became effective upon its issuance on November 18, 2014. Although now optional, the Company has applied pushdown accounting to its standalone financial statements effective with the Company becoming a wholly owned subsidiary of Dai-ichi Life on February 1, 2015. The presentation within this report for predecessor and successor periods is consistent with this Update. Accounting Pronouncements Not Yet Adopted ASU No. 2014-09—Revenue from Contracts with Customers (Topic 606). This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update was originally effective for annual and interim periods beginning after December 15, 2016. However, in August 2015, the FASB issued ASU No. 2015-14 — Revenues from Contracts with Customers: Deferral of the Effective Date , to defer the effective date of ASU No. 2014-09 by one year to annual and interim periods beginning after December 15, 2017. Early adoption will be allowed, but not before the original effective date. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption. The Company is currently assessing the impact this standard will have on its non-insurance operations. ASU No. 2014-15—Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This Update will require management to assess an entity’s ability to continue as a going concern, and will require footnote disclosures in certain circumstances. Under the updated guidance, management should consider relevant conditions and evaluate whether it is probable that the entity will be unable to meet its obligations within one year after the issuance date of the financial statements. The Update is effective for annual periods ending December 31, 2016 and for annual and interim periods thereafter, with early adoption permitted. The amendments in this Update will not impact the Company’s financial position or results of operations. However, the new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance. The Company is reviewing its policies and processes to ensure compliance with the new guidance. ASU No. 2015-02—Consolidation—Amendments to the Consolidation Analysis. This Update makes several targeted changes to generally accepted accounting principles, including a) eliminating the presumption that a general partner should consolidate a limited partnership and b) eliminating the consolidation model specific to limited partnerships. The amendments also clarify when fees and related party relationships should be considered in the consolidation of variable interest entities. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2015. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption. ASU No. 2015-03—Interest—Imputation of Interest . The objective of this Update is to eliminate diversity in practice related to the presentation of debt issuance costs. The amendments in this Update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this Update. The Update is effective for fiscal years beginning after December 15, 2015, and requires revised presentation of debt issuance costs in all periods presented in the financial statements. The Company is prepared to comply with the revised guidance. ASU No. 2015-05 — Intangibles — Goodwill and Other — Internal-Use Software. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The Update is effective for annual and interim periods beginning after December 15, 2015. The Company is prepared to comply with the revised guidance and does not believe it will materially impact the presentation of the Company’s financial position. ASU No. 2015-09 — Financial Services—Insurance (Topic 944): Disclosures about Short-Duration Contracts. The amendments in this Update require additional disclosures for short-duration contracts issued by insurance entities. The additional disclosures focus on the liability for unpaid claims and claim adjustment expenses and include incurred and paid claims development information by accident year in tabular form, along with a reconciliation of this information to the statement of financial position. For accident years included in the development tables, the amendments also require disclosure of the total incurred-but-not-reported liabilities and expected development on reported claims, along with claims frequency information unless impracticable. Finally, the amendments require disclosure of the historical average annual percentage payout of incurred claims. With the exception of the current reporting period, claims development information may be presented as supplementary information. The Update is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. The Company is reviewing its products to determine the applicability and potential impact of the new disclosures. ASU No. 2015-12 - Plan Accounting - (Topics 960, 962 and 965). This Update is a three-part standard that provides guidance on certain aspects of the accounting related to employee benefit plans. Part I requires an employee benefit plan to use contract value as the only measurement amount for fully-benefit responsive investment contracts. Part II simplifies and increases the effectiveness of plan investment disclosure requirements for employee benefit plans by eliminating certain disclosures related to individual investments over 5 percent and by eliminating the need to disaggregate investments in multiple ways. Part III provides a measurement-date practical expedient for plan investments when the fiscal year-end of a plan does not coincide with a month-end. The guidance is effective for fiscal years beginning after December 15, 2015 for all three parts and early adoption is permitted. For parts I and II, amendments should be applied retrospectively to all financial statements presented, while part III should be applied prospectively. The Company is reviewing its policies and procedures to ensure compliance with the revised guidance. ASU No. 2015-15 — Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The objective of this Update is to clarify the SEC Staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on the topic in ASU No. 2015-03. This Update reflects the SEC Staff’s decision to not object when an entity defers and presents debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. The Company is prepared to comply with the revised guidance. ASU No. 2015-16 - Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments. This Update provides that an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period following a business combination in the reporting period in which the adjustment amounts are determined. This Update is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in the Update are to be applied prospectively for adjustments that occur after the effective date, with early adoption permitted for financial statements that have not been issued. The Company is prepared to comply with the revised guidance.

RECENTLY ANNOUNCED REINSURANCE

RECENTLY ANNOUNCED REINSURANCE TRANSACTION	9 Months Ended
	Sep. 30, 2015
RECENTLY ANNOUNCED REINSURANCE TRANSACTION
RECENTLY ANNOUNCED REINSURANCE TRANSACTION	3. RECENTLY ANNOUNCED REINSURANCE TRANSACTION On September 30, 2015, the Company entered into a Master Agreement (the “Master Agreement”) with Genworth Life and Annuity Insurance Company (“GLAIC”). Pursuant to the Master Agreement, the Company agreed to enter into a reinsurance agreement (the “Reinsurance Agreement”) pursuant to which the Company will coinsure certain term life insurance business of GLAIC. In connection with the reinsurance transaction, the Company intends to enter into a financing transaction with a term of up to 20 years involving, among other parties, its indirect wholly owned subsidiary, Golden Gate Captive Insurance Company (“Golden Gate”), and a syndicate of third-party risk takers, to finance up to $2.2 billion of “XXX” reserves related to the GLAIC business to be reinsured and the other term life insurance business currently reinsured by Golden Gate. Although the Company intends to execute the financing transaction concurrently with its entry into the Reinsurance Agreement, the closing of the transactions contemplated by the Master Agreement is not conditioned upon the consummation of the financing transaction.

DAI-ICHI MERGER

DAI-ICHI MERGER	9 Months Ended
	Sep. 30, 2015
DAI-ICHI MERGER
DAI-ICHI MERGER	4. DAI-ICHI MERGER On February 1, 2015 PLC, subsequent to required approvals from PLC’s shareholders and relevant regulatory authorities, became a wholly owned subsidiary of Dai-ichi Life as contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) with Dai-ichi Life and DL Investment (Delaware), Inc., a Delaware corporation and wholly owned subsidiary of Dai-ichi Life, which provided for the Merger of DL Investment (Delaware), Inc. with and into PLC, with PLC surviving the Merger as a wholly owned subsidiary of Dai-ichi Life. On February 1, 2015 each share of PLC’s common stock outstanding was converted into the right to receive $70 per share, without interest (the “Per Share Merger Consideration”). The aggregate cash consideration paid in connection with the Merger for the outstanding shares of common stock was approximately $5.6 billion and paid directly to the shareowners of record by Dai-ichi Life. According to public statements by both companies, the Merger will provide Dai-ichi Life with a platform for growth in the United States, where it did not previously have a significant presence. In connection with the completion of the Merger, PLC’s previously publicly traded equity was delisted from the NYSE, although PLC and the Company remain SEC registrants for financial reporting purposes in the United States. The Merger was accounted for under the acquisition method of accounting under ASC Topic 805. In accordance with ASC Topic 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. Goodwill of $735.7 million represents the cost in excess of the fair value of PLC’s net assets acquired (including identifiable intangibles) in the Merger, and reflects the Company’s assembled workforce, future growth potential and other sources of value not associated with identifiable assets. None of the goodwill is tax deductible. The following table summarizes the fair value of assets acquired and liabilities assumed at the acquisition date: Fair Value As of February 1, 2015 (Dollars In Thousands) Assets Fixed maturities $ Equity securities Mortgage loans Investment real estate Policy loans Other long-term investments Short-term investments Total investments Cash Accrued investment income Accounts and premiums receivable Reinsurance receivables Value of business acquired Goodwill Other intangibles Property and equipment Other assets Income tax receivable Assets related to separate accounts Variable annuity Variable universal life Total assets $ Liabilities Future policy and benefit claims $ Unearned premiums Total policy liabilities and accruals Stable value product account balances Annuity account balances Other policyholders’ funds Other liabilities Deferred income taxes Non-recourse funding obligations Repurchase program borrowings Liabilities related to separate accounts Variable annuity Variable universal life Total liabilities Net assets acquired $ As of the acquisition date, all contractual cash flows related to the Company’s historical and acquired receivables (as presented within this consolidated balance sheet) are expected to be collected. Intangible assets recognized by the Company included the following (excluding goodwill): Estimated Fair Value on Estimated Acquisition Date Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 14-22 Trade names 13-17 Technology 7-14 Total intangible assets subject to amortization Insurance licenses Indefinite Total intangible assets $ 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) 2015 $ 2016 2017 2018 2019 All tangible and intangible assets of the Company were allocated to applicable operating segments in connection with the recording of pushdown accounting. The purchase price was also allocated to each operating segment in accordance with the determined fair value of the operating segments, such that the total reconciled with the total consideration paid in the merger. Subtraction of the fair value of the tangible and intangible assets for each operating segment from the allocated purchase price of that operating segment resulted in the goodwill allocated to each operating segment. The amount of goodwill allocated to each operating segment is reflected in Note 18 , Operating Segments . Treatment of Benefit Plans At or immediately prior to the Merger, each stock appreciation right with respect to shares of PLC’s Common Stock granted under any Stock Plan (each, a “SAR”) that were outstanding and unexercised immediately prior to the Merger and that had a base price per share of Common Stock underlying such SAR (the “Base Price”) that was less than the Per Share Merger Consideration (each such SAR, an “In-the-Money SAR”), whether or not exercisable or vested, was cancelled and converted into the right to receive an amount in cash less any applicable withholding taxes, determined by multiplying (i) the excess of the Per Share Merger Consideration over the Base Price of such In-the-Money SAR by (ii) the number of shares of Common Stock subject to such In-the-Money SAR (such amount, the “SAR Consideration”). At or immediately prior to the effective time of the Merger, each restricted stock unit with respect to a share of PLC Common Stock granted under any Stock Plan (each, a “RSU”) that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of RSUs. The number of performance shares earned for each award of performance shares granted under any Stock Plan was calculated by determining the number of performance shares that would have been paid if the subject award period had ended on the December 31 immediately preceding the Merger (based on the conditions set for payment of performance share awards for the subject award period), provided that the number of performance shares earned for each award were not less than the aggregate number of performance shares at the target performance level. Each performance share earned that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of Performance Shares.

MONY CLOSED BLOCK OF BUSINESS

MONY CLOSED BLOCK OF BUSINESS	9 Months Ended
	Sep. 30, 2015
MONY CLOSED BLOCK OF BUSINESS
MONY CLOSED BLOCK OF BUSINESS	5. 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 Insurance Department (the “Superintendent”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the general account. The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in accumulated other comprehensive income (loss) (“AOCI”)) at the merger date 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 PLC by Dai-ichi Life, this actuarial calculation of the expected timing of MONY’s Closed Block earnings was recalculated and reset as of February 1, 2015, along with the establishment of a policyholder dividend obligation as of such date. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in the Company’s net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of VOBA, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Closed Block as of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company) is as follows : Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders’ account balances and other policyholder liabilities $ $ Policyholder dividend obligation Other liabilities Total closed block liabilities Closed block assets Fixed maturities, available-for-sale, at fair value $ $ Equity securities, available-for-sale, at fair value — Mortgage loans on real estate Policy loans Cash and other invested assets Other assets Total closed block assets Excess of reported closed block liabilities over closed block assets Portion of above representing accumulated other comprehensive income: Net unrealized investment gains (losses) net of policyholder dividend obligation of $(154,143) (Successor) and $106,886 (Predecessor) — — Future earnings to be recognized from closed block assets and closed block liabilities $ $ Reconciliation of the policyholder dividend obligation is as follows: Successor Predecessor Company Company February 1, 2015 January 1, 2015 For The Nine to to Months Ended September 30, 2015 January 31, 2015 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Policyholder dividend obligation, beginning of period $ $ $ Applicable to net revenue (losses) ) ) ) Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $(83,000) (Successor); $47,277 (2015 - Predecessor); $38,448 (2014 - Predecessor) ) Policyholder dividend obligation, end of period $ $ $ Closed Block revenues and expenses were as follows: Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Premiums and other income $ $ $ $ $ Net investment income (loss) Net investment gains (losses) Total revenues Benefits and other deductions Benefits and settlement expenses Other operating expenses — Total benefits and other deductions Net revenues before income taxes Income tax expense Net revenues $ $ $ $ $

INVESTMENT OPERATIONS

INVESTMENT OPERATIONS	9 Months Ended
	Sep. 30, 2015
INVESTMENT OPERATIONS
INVESTMENT OPERATIONS	6. INVESTMENT OPERATIONS Net realized gains (losses) for all other investments are summarized as follows: Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ ) $ $ $ $ Equity securities — — — Impairments on fixed maturity securities ) ) ) ) ) Impairments on equity securities — — — — — Modco trading portfolio ) ) Other investments ) ) ) ) Total realized gains (losses) - investments $ ) $ ) $ $ ) $ For the three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $0.7 million and $7.6 million and gross realized losses were $12.0 million and $21.0 million, respectively, including $10.1 million and $15.8 million of impairment losses, respectively. For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $6.9 million and gross realized losses were $0.5 million, including $0.4 million of impairment losses. For the three and nine months ended September 30, 2014 (Predecessor Company), gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $22.5 million and $50.6 million and gross realized losses were $2.5 million and $5.9 million, including $2.3 million and $5.1 million of impairment losses, respectively. For the three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $94.8 million and $807.8 million, respectively. The gains realized on the sale of these securities was $0.7 million and $7.6 million, respectively. For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $172.6 million. The gain realized on the sale of these securities was $6.9 million. For the three and nine months ended September 30, 2014 (Predecessor Company), the Company sold securities in an unrealized gain position with a fair value (proceeds) of $494.0 million and $1.1 billion, respectively. The gains realized on the sale of these securities was $22.5 million and $50.6 million, respectively. For the three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $34.6 million and $83.9 million, respectively. The loss realized on the sale of these securities was $2.0 million and $5.2 million, respectively. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. For the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $0.4 million. The loss realized on the sale of these securities were immaterial to the Company. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. For the three and nine months ended September 30, 2014 (Predecessor Company), the Company sold securities in an unrealized loss position with a fair value (proceeds) of $2.3 million and $6.7 million, respectively. The losses realized on the sale of these securities were $0.3 million and $0.8 million, respectively. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process. The amortized cost and fair value of the Company’s investments classified as available-for-sale as of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), are as follows: Gross Gross Total OTTI Successor Company Amortized Unrealized Unrealized Fair Recognized As of September 30, 2015 Cost Gains Losses Value in OCI (1) (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ $ $ ) $ $ — Commercial mortgage-backed securities ) — Other asset-backed securities ) — U.S. government-related securities ) — Other government-related securities — ) — States, municipals, and political subdivisions ) Corporate securities ) ) Preferred stock — ) — ) ) Equity securities ) — Short-term investments — — — $ $ $ ) $ $ ) Predecessor Company As of December 31, 2014 Fixed maturities: Residential mortgage-backed securities $ $ $ ) $ $ Commercial mortgage-backed securities ) — Other asset-backed securities ) ) U.S. government-related securities ) — Other government-related securities — — States, municipals, and political subdivisions ) — Corporate securities ) — ) Equity securities ) — Short-term investments — — — $ $ $ ) $ $ (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above. The preferred stock shown above as of September 30, 2015 (Successor Company) is included in the equity securities total as of December 31, 2014 (Predecessor Company). The amortized cost and fair value of the Company’s investments classified as held-to-maturity as of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), are as follows: Gross Gross Total OTTI Successor Company Amortized Unrealized Unrealized Fair Recognized As of September 30, 2015 Cost Gains Losses Value in OCI (Dollars In Thousands) Fixed maturities: Other $ $ — $ ) $ $ — $ $ — $ ) $ $ — Predecessor Company As of December 31, 2014 Fixed maturities: Other $ $ $ — $ $ — $ $ $ — $ $ — During the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the nine months ended September 30, 2014 (Predecessor Company), the Company did not record any other-than-temporary impairments on held-to-maturity securities. The Company’s held-to-maturity securities had $61.0 million of gross unrecognized holding losses as of September 30, 2015 (Successor Company). The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings, financial health of the issuer, continued access of the issuer to capital markets and other pertinent information. The Company’s held-to-maturity securities had no gross unrecognized holding losses as of December 31, 2014 (Predecessor Company). As of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had an additional $2.7 billion and $2.8 billion of fixed maturities, $6.7 million and $21.5 million of equity securities, and $65.2 million and $95.1 million of short-term investments classified as trading securities, respectively. The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of September 30, 2015 (Successor Company), by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment. Successor Company Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ $ $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years $ $ $ $ During the three months ended September 30, 2015 (Successor Company) and the period of February 1, 2015 to September 30, 2015 (Successor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $14.9 million and $28.3 million, respectively. Of the $14.9 million of impairments for the three months ended September 30, 2015 (Successor Company), $10.1 million was recorded in earnings and $4.8 million was recorded in other comprehensive income (loss). Of the $28.3 million of impairments for the period of February 1, 2015 to September 30, 2015 (Successor Company), $15.8 million was recorded in earnings and $12.5 million was recorded in other comprehensive income (loss). 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 three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company). During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $0.6 million, all of which related to fixed maturities. Credit impairments recorded in earnings during the period were $0.5 million. During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), $0.1 million of non-credit losses previously recorded in other comprehensive income (loss) were recorded in earnings as credit losses. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the period of January 1, 2015 to January 31, 2015 (Predecessor Company). During the three and nine months ended September 30, 2014 (Predecessor Company), the Company recorded pre-tax other-than-temporary impairments of investments of $1.1 million and $2.0 million, respectively, all of which related to fixed maturities. Credit impairments recorded in earnings during the three and nine months ended September 30, 2014 (Predecessor Company) were $2.3 million and $5.4 million, respectively. During the three and nine months ended September 30, 2014 (Predecessor Company), $1.2 million and $3.4 million, respectively, of non-credit losses previously recorded in other comprehensive income (loss) were recorded in earnings as credit losses. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the three and nine months ended September 30, 2014 (Predecessor Company). The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss): Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ $ — $ $ $ Additions for newly impaired securities — — — — Additions for previously impaired securities Reductions for previously impaired securities due to a change in expected cash flows — — — ) ) Reductions for previously impaired securities that were sold in the current period ) ) — — — Ending balance $ $ $ $ $ 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 September 30, 2015 (Successor Company): Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (Dollars In Thousands) Residential mortgage-backed securities $ $ ) $ — $ — $ $ ) Commercial mortgage-backed securities ) — — ) Other asset-backed securities ) — — ) U.S. government-related securities ) — — ) Other government-related securities ) — — ) States, municipalities, and political subdivisions ) — — ) Corporate securities ) — — ) Preferred stock ) — — ) Equities ) — — ) $ $ ) $ — $ — $ $ ) The preferred stock shown above as of September 30, 2015 (Successor Company) is included in the equity securities total as of December 31, 2014 (Predecessor Company). The book value of the Company’s investment portfolio was marked to fair value as of February 1, 2015 (Successor Company), in conjunction with the Dai-ichi Merger which resulted in the elimination of previously unrealized gains and losses from accumulated other comprehensive income. The level of interest rates as of February 1, 2015 (Successor Company) resulted in an increase in the carrying value of the Company’s investments. Since February 1, 2015 (Successor Company), interest rates have increased resulting in net unrealized losses in the Company’s investment portfolio. As of September 30, 2015 (Successor Company), the Company had a total of 2,433 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 Company does not consider these unrealized loss positions to be other-than-temporary, based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities. The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014 (Predecessor Company): Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (Dollars In Thousands) Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Commercial mortgage-backed securities ) ) ) Other asset-backed securities ) ) ) U.S. government-related securities ) ) ) Other government-related securities — — — — — — States, municipalities, and political subdivisions ) ) ) Corporate securities ) ) ) Equities ) ) ) $ $ ) $ $ ) $ $ ) RMBS had a gross unrealized loss greater than twelve months of $2.7 million as of December 31, 2014 (Predecessor Company). Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. CMBS had a gross unrealized loss greater than twelve months of $2.0 million as of December 31, 2014 (Predecessor Company). Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. The other asset-backed securities had a gross unrealized loss greater than twelve months of $29.5 million as of December 31, 2014 (Predecessor Company). This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the Federal Family Education Loan Program (“FFELP”). These unrealized losses have occurred within the Company’s auction rate securities (“ARS”) portfolio since the market collapse during 2008. At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary. The U.S. government-related category had gross unrealized losses greater than twelve months of $5.4 million as of December 31, 2014 (Predecessor Company). These declines were entirely related to changes in interest rates. The corporate securities category had gross unrealized losses greater than twelve months of $62.7 million as of December 31, 2014 (Predecessor Company). The aggregate decline in market value of these securities was deemed temporary due to positive 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 equities category had a gross unrealized loss greater than twelve months of $14.0 million as of December 31, 2014 (Predecessor Company). The aggregate decline in market value of these securities was deemed temporary due to factors supporting the recoverability of the respective investments. Positive factors include credit ratings, the financial health of the issuer, the continued access of the issuer to the capital markets, and other pertinent information. As of September 30, 2015 (Successor Company), the Company had securities in its available-for-sale portfolio which were rated below investment grade of $1.5 billion and had an amortized cost of $1.6 billion. In addition, included in the Company’s trading portfolio, the Company held $302.1 million of securities which were rated below investment grade. Approximately $973.4 million of the below investment grade securities were not publicly traded. The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows: Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ ) $ ) $ $ ) $ Equity securities ) ) 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 Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC” or “Codification”) (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 September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company). The activity most significant to Red Mountain is the issuance of a note in connection with a financing transaction involving Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”) and the Company in which Golden Gate V issued non-recourse funding obligations to Red Mountain and Red Mountain issued the note to Golden Gate V. Credit enhancement on the Red Mountain Note is provided by an unrelated third party. For details of this transaction, see Note 10, Debt and Other Obligations . The Company had the power, via its 100% ownership through an affiliate, to direct the activities of the VIE, but did 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, the Company has guaranteed the VIE’s payment obligation for the credit enhancement fee to the unrelated third party provider. As of September 30, 2015 (Successor Company), no payments have been made or required related to this guarantee.

MORTGAGE LOANS

MORTGAGE LOANS	9 Months Ended
	Sep. 30, 2015
MORTGAGE LOANS
MORTGAGE LOANS	7. MORTGAGE LOANS Mortgage Loans The Company invests a portion of its investment portfolio in commercial mortgage loans. As of September 30, 2015 (Successor Company), the Company’s mortgage loan holdings were approximately $5.7 billion. The Company has specialized in making loans on either credit-oriented commercial properties or credit-anchored strip shopping centers and apartments. The Company’s underwriting procedures relative to its commercial loan portfolio are based, in the Company’s view, on a conservative and disciplined approach. The Company concentrates on a small number of commercial real estate asset types associated with the necessities of life (retail, multi-family, senior living, professional office buildings, and warehouses). The Company believes that these asset types tend to weather economic downturns better than other commercial asset classes in which it has chosen not to participate. The Company believes this disciplined approach has helped to maintain a relatively low delinquency and foreclosure rate throughout its history. The majority of the Company’s mortgage loans portfolio was underwritten and funded by the Company. From time to time, the Company may acquire loans in conjunction with an acquisition. The Company’s commercial mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of valuation allowances. Interest income is accrued on the principal amount of the loan based on the loan’s contractual interest rate. Amortization of premiums and discounts is recorded using the effective yield method. Interest income, amortization of premiums and discounts, and prepayment fees are reported in net investment income. As of February 1, 2015, all mortgage loans were measured at fair value. Each mortgage loan was individually analyzed to determine the fair value. Each loan was either analyzed and assigned a discount rate or given an impairment, based on whether facts and circumstances which, as of the acquisition date, indicated less than full projected collections of contractual principal and interest payments. Various market factors were considered in determining the net present value of the expected cash flow stream or underlying real estate collateral, including the characteristics of the borrower, the underlying collateral, underlying credit worthiness of the tenants, and tenant payment history. Known events and risks, such as refinancing risks, were also considered in the fair value determination. In certain cases, fair value was based on the NPV of the expected cash flow stream or the underlying value of the real estate collateral. Certain of the mortgage loans have call options between 3 and 10 years. However, if interest rates were to significantly increase, we may be unable to exercise the call options on our existing mortgage loans commensurate with the significantly increased market rates. As of September 30, 2015, assuming the loans are called at their next call dates, approximately $27.3 million would become due for the remainder of 2015, $944.4 million in 2016 through 2020, $365.3 million in 2021 through 2025, and $114.5 million thereafter. The Company offers a type of commercial mortgage loan under which the Company will permit a loan-to-value ratio of up to 85% in exchange for a participating interest in the cash flows from the underlying real estate. As of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), approximately $562.6 million and $553.6 million, respectively, of the Company’s mortgage loans have this participation feature. Cash flows received as a result of this participation feature are recorded as interest income. During the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), January 1, 2015 to January 31, 2015 (Predecessor Company), and for the three and nine months ended September 30, 2014 (Predecessor Company), the Company recognized $3.3 million, $8.4 million, $0.1 million, $8.0 million, and $13.8 million, respectively, of participating mortgage loan income. As of September 30, 2015 (Successor Company), approximately $7.3 million, or 0.02%, of invested assets consisted of nonperforming mortgage loans and/or restructured mortgage loans since February 1, 2015 (Successor Company). The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company entered into certain mortgage loan transactions that were accounted for as troubled debt restructurings under Topic 310 of the FASB ASC. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in the Company’s investment balance and in the allowance for mortgage loan credit losses. Transactions accounted for as troubled debt restructurings during the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company) included either the acceptance of assets in satisfaction of principal during the respective periods or at a future date, and were the result of agreements between the creditor and the debtor. During the period of February 1, 2015 to September 30, 2015 (Successor Company), the Company accepted or agreed to accept assets of $12.1 million in satisfaction of $15.2 million of principal and for the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company accepted or agreed to accept assets of $11.3 million in satisfaction of $13.8 million of principal. These transactions resulted in no material realized losses in the Company’s investment in mortgage loans net of existing discounts recorded for mortgage loans losses for the period of February 1, 2015 to September 30, 2015 (Successor Company). The Company’s mortgage loan portfolio consists of two categories of loans: 1) those not subject to a pooling and servicing agreement and 2) those subject to a contractual pooling and servicing agreement. As of September 30, 2015 (Successor Company), $7.3 million of mortgage loans not subject to a pooling and servicing agreement were nonperforming mortgage loans and/or restructured mortgage loans since February 1, 2015 (Successor Company). None of the restructured loans were nonperforming during the periods of February 1, 2015 to September 30, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company). The Company did not foreclose on any nonperforming loans not subject to a pooling and servicing agreement during the periods of February 1, 2015 to September 30, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company). As of September 30, 2015 (Successor Company), none of the loans subject to a pooling and servicing agreement were nonperforming or restructured. The Company did not foreclose on any nonperforming loans subject to pooling and servicing agreement during the periods of February 1, 2015 to September 30, 2015 (Successor Company) and January 1, 2015 to January 31, 2015 (Predecessor Company). As of September 30, 2015 (Successor Company) and December 31, 2014 (Predecessor Company), the Company had an allowance for mortgage loan credit losses of $2.0 million and $5.7 million, respectively. Due to the Company’s loss experience and nature of the loan portfolio, the Company believes that a collectively evaluated allowance would be inappropriate. The Company believes an allowance calculated through an analysis of specific loans that are believed to have a higher risk of credit impairment provides a more accurate presentation of expected losses in the portfolio and is consistent with the applicable guidance for loan impairments in ASC Subtopic 310. Since the Company uses the specific identification method for calculating the allowance, it is necessary to review the economic situation of each borrower to determine those that have higher risk of credit impairment. The Company has a team of professionals that monitors borrower conditions such as payment practices, borrower credit, operating performance, and property conditions, as well as ensuring the timely payment of property taxes and insurance. Through this monitoring process, the Company assesses the risk of each loan. When issues are identified, the severity of the issues are assessed and reviewed for possible credit impairment. If a loss is probable, an expected loss calculation is performed and an allowance is established for that loan based on the expected loss. The expected loss is calculated as the excess carrying value of a loan over either the present value of expected future cash flows discounted at the loan’s original effective interest rate, or the current estimated fair value of the loan’s underlying collateral. A loan may be subsequently charged off at such point that the Company no longer expects to receive cash payments, the present value of future expected payments of the renegotiated loan is less than the current principal balance, or at such time that the Company is party to foreclosure or bankruptcy proceedings associated with the borrower and does not expect to recover the principal balance of the loan. A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property. Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ $ Charge offs ) ) ) Recoveries ) ) ) Provision — Ending balance $ $ $ It is the Company’s policy to cease to carry accrued interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is the Company’s general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. For loans subject to a pooling and servicing agreement, there are certain additional restrictions and/or requirements related to workout proceedings, and as such, these loans may have different attributes and/or circumstances affecting the status of delinquency or categorization of those in nonperforming status. An analysis of the delinquent loans is shown in the following chart . Greater Successor Company 30-59 Days 60-89 Days than 90 Days Total As of September 30, 2015 Delinquent Delinquent Delinquent Delinquent (Dollars In Thousands) Commercial mortgage loans $ $ $ $ Number of delinquent commercial mortgage loans Predecessor Company As of December 31, 2014 Commercial mortgage loans $ $ — $ $ Number of delinquent commercial mortgage loans — 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 90 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 : Unpaid Average Interest Cash Basis Successor Company Recorded Principal Related Recorded Income Interest As of September 30, 2015 Investment Balance Allowance Investment Recognized Income (Dollars In Thousands) Commercial mortgage loans: With no related allowance recorded $ $ $ — $ $ $ With an allowance recorded — Predecessor Company As of December 31, 2014 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded As of September 30, 2015 (Successor Company), the Company did not carry any mortgage loans that have been modified in a troubled debt restructuring. Mortgage loans that were modified in a troubled debt restructuring: Pre-Modification Post-Modification Outstanding Outstanding Predecessor Company Number of Recorded Recorded As of December 31, 2014 Contracts Investment Investment (Dollars In Thousands) Troubled debt restructuring: Commercial mortgage loans $ $

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	9 Months Ended
	Sep. 30, 2015
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED.
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	8. DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED Deferred policy acquisition costs The balances and changes in DAC are as follows: Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ — $ $ Capitalization of commissions, sales, and issue expenses Amortization ) ) Change in unrealized investment gains and losses ) ) Balance, end of period $ $ $ Value of business acquired The balances and changes in VOBA are as follows: Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ $ $ Amortization ) ) ) Change in unrealized gains and losses ) ) Other ) — — Balance, end of period $ $ $ As of February 1, 2015, the existing deferred acquisition costs (“DAC”) and VOBA balance was written off in conjunction with the merger previously disclosed in Note 3, Dai-ichi Merger and in accordance with ASC Topic 805 — Business Combinations. Concurrently, a VOBA asset was created representing the actuarial estimated present value of future cash flows from the Company’s insurance policies and investment contracts in-force on the date of the Merger. The expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2015 $ 2016 2017 2018 2019

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2015
GOODWILL
GOODWILL	9. GOODWILL During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company decreased its goodwill balance by approximately $0.3 million. The decrease for the period of the Predecessor Company was due to an adjustment in the Acquisitions segment related to tax benefits realized during the period on the portion of tax goodwill in excess of GAAP basis goodwill. The goodwill balances associated with the Predecessor Company were replaced with newly established goodwill balances in conjunction with the Dai-ichi Merger, in accordance with ASC Topic 805, as described below. As permitted by ASC Topic 805, Business Combinations , the Company measured its assets and liabilities at fair value on the date of the merger, February 1, 2015. The purchase price in excess of the fair value of PLC’s assets and liabilities resulted in the establishment of goodwill as of the date of the merger. As of February 1, 2015 (Successor Company), the Company was allocated an aggregate goodwill balance of $735.7 million. Refer to Note 4, Dai-ichi Merger , for more information related to the Successor Company goodwill. There has been no change in the goodwill during the period of February 1, 2015 to September 30, 2015 (Successor Company). Accounting for goodwill requires an estimate of the future profitability of the associated lines of business to assess the recoverability of the capitalized acquisition goodwill. The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the measurement date. If it is determined that it is more likely than not that impairment exists, the Company compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The cash flows used to determine the fair value of the Company’s reporting units are dependent on a number of significant assumptions. The Company’s estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions. Additionally, the discount rate used is based on the Company’s judgment of the appropriate rate for each reporting unit based on the relative risk associated with the projected cash flows. As of September 30, 2015 (Successor Company) and for the period of February 1, 2015 through September 30, 2015 (Successor Company), the Company did not identify any events or circumstances which would indicate that the fair value of its operating segments would have declined below their book value, either individually or in the aggregate. Accordingly, no impairment to the Company’s goodwill balance has been recorded.

DEBT AND OTHER OBLIGATIONS

DEBT AND OTHER OBLIGATIONS	9 Months Ended
	Sep. 30, 2015
DEBT AND OTHER OBLIGATIONS
DEBT AND OTHER OBLIGATIONS	10. DEBT AND OTHER OBLIGATIONS In conjunction with the Merger and in accordance with ASC Topic 805, the Company adjusted the carrying value of its non-recourse funding obligations to fair value as of the date of the Merger, February 1, 2015. This resulted in the Company establishing premiums and discounts on its non-recourse funding obligations. The fair value of the Company’s non-recourse funding obligations associated with Golden Gate, Golden Gate II, and MONY Life Insurance Company, were determined using market prices as of February 1, 2015. The fair value of the Golden Gate V non-recourse funding obligation was determined using a discounted cash flow model with inputs derived from comparable financial instruments. The premiums and discounts established as of February 1, 2015 are amortized over the expected life of the instruments using the effective interest method. The amortization of premiums and discounts are recorded as a component of interest expense and are recorded in “Other operating expenses” on the Company’s Consolidated Condensed Statements of Income (Loss). Under a revolving line of credit arrangement that was in effect until February 2, 2015 (the “Credit Facility”), the Company and PLC had the ability to borrow on an unsecured basis up to an aggregate principal amount of $750 million. The Company had the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.0 billion. Balances outstanding under the Credit Facility accrued interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of the Company’s senior unsecured long-term debt (“Senior Debt”), or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate, (y) 0.50% above the Federal Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of our Senior Debt. The Credit Facility also provided for a facility fee at a rate, 0.175%, that could vary with the ratings of the Company’s Senior Debt and that was calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The Credit Facility provided that PLC was liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the Credit Facility. The maturity date of the Credit Facility was July 17, 2017. The Company was not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2014 (Predecessor Company). PLC had an outstanding balance of $450.0 million bearing interest at a rate of LIBOR plus 1.20% under the Credit Facility as of December 31, 2014 (Predecessor Company). As of December 31, 2014 (Predecessor Company), the Company had used $55.0 million of borrowing capacity by executing a Letter of Credit under the Credit Facility for the benefit of an affiliated captive reinsurance subsidiary of the Company. This Letter of Credit had not been drawn upon as of December 31, 2014 (Predecessor Company). On February 2, 2015, the Company and PLC amended and restated the Credit Facility (the “2015 Credit Facility”). Under the 2015 Credit Facility, the Company has the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion. The Company has the right in certain circumstances to request that the commitment under the 2015 Credit Facility be increased up to a maximum principal amount of $1.25 billion. Balances outstanding under the 2015 Credit Facility accrue interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of PLC’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate, (y) 0.50% above the Federal Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of PLC’s Senior Debt. The 2015 Credit Facility also provided for a facility fee at a rate that varies with the ratings of PLC’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The initial facility fee rate was 0.15% on February 2, 2015, and was adjusted to 0.125% upon PLC’s subsequent ratings upgrade on February 2, 2015. The 2015 Credit Facility provides that PLC is liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the 2015 Credit Facility. The maturity date of the 2015 Credit Facility is February 2, 2020. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of February 2, 2015 or the 2015 Credit Facility as of September 30, 2015 (Successor Company). PLC had an outstanding balance of $495.0 million bearing interest at a rate of LIBOR plus 1.00% as September 30, 2015 (Successor Company). As of September 30, 2015 (Successor Company), the $55.0 million Letter of Credit executed by the Company was no longer issued and outstanding. Non- Recourse Funding Obligations Golden Gate Captive Insurance Company Golden Gate Captive Insurance Company (“Golden Gate”), a South Carolina special purpose financial captive insurance company and wholly owned subsidiary, had three series of non-recourse funding obligations with a total outstanding balance of $800 million as of September 30, 2015 (Successor Company). PLC holds the entire outstanding balance of non-recourse funding obligations. The Series A1 non-recourse funding obligations have a balance of $400 million and accrue interest at 7.375%, the Series A2 non-recourse funding obligations have a balance of $100 million and accrue interest at 8.00%, and the Series A3 non-recourse funding obligations have a balance of $300 million and accrue interest at 8.45%. 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 outstanding non-recourse funding obligations as of September 30, 2015 (Successor Company). These outstanding non-recourse funding obligations were issued to special purpose trusts, which in turn issued securities to third parties. Certain of our affiliates own a portion of these securities. As of September 30, 2015 (Successor Company), securities related to $144.9 million of the outstanding balance of the non-recourse funding obligations were held by external parties, securities related to $145.3 million of the non-recourse funding obligations were held by nonconsolidated affiliates, and $284.8 million were held by consolidated subsidiaries of the Company. PLC has entered into certain support agreements with Golden Gate II obligating it to make capital contributions or provide support related to certain of Golden Gate II’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate II. These support agreements provide that amounts would become payable by PLC to Golden Gate II if its annual general corporate expenses were higher than modeled amounts or if Golden Gate II’s investment income on certain investments or premium income was below certain actuarially determined amounts. As of September 30, 2015 (Successor Company), no payments have been made under these agreements; however, certain support agreement obligations to Golden Gate II of approximately $1.9 million have been collateralized by PLC. 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. There are no support agreements between the Company and Golden Gate II. Golden Gate V Vermont Captive Insurance Company On October 10, 2012, Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”), a Vermont special purpose financial insurance company and Red Mountain, LLC (“Red Mountain”), both wholly owned subsidiaries, entered into a 20-year transaction to finance up to $945 million of “AXXX” reserves related to a block of universal life insurance policies with secondary guarantees issued by the Company and its subsidiary, West Coast Life Insurance Company (“WCL”). Golden Gate V issued non-recourse funding obligations to Red Mountain, and Red Mountain issued a note with an initial principal amount of $275 million, increasing to a maximum of $945 million in 2027, to Golden Gate V for deposit to a reinsurance trust supporting Golden Gate V’s obligations under a reinsurance agreement with WCL, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. Through the structure, Hannover Life Reassurance Company of America (“Hannover Re”), the ultimate risk taker in the transaction, provides credit enhancement to the Red Mountain note for the 20-year term in exchange for a fee. The transaction is “non-recourse” to Golden Gate V, Red Mountain, WCL, PLC, and the Company, meaning that none of these companies are liable for the reimbursement of any credit enhancement payments required to be made. As of September 30, 2015 (Successor Company), the principal balance of the Red Mountain note was $485 million. Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $139.6 million and will be paid in annual installments through 2031. In connection with the transaction, PLC has entered into certain support agreements under which PLC 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 September 30, 2015 (Successor Company), no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate V had a $485 million outstanding non-recourse funding obligation as of September 30, 2015 (Successor Company). This non-recourse funding obligation matures in 2037, has scheduled increases in principal to a maximum of $945 million, and accrues interest at a fixed annual rate of 6.25%. Non-recourse funding obligations outstanding as of September 30, 2015 (Successor Company), on a consolidated basis, are shown in the following table: Year-to-Date Maturity Weighted-Avg Issuer Carrying Value (1) Year Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2) $ 2037 % Golden Gate II Captive Insurance Company 2052 % Golden Gate V Vermont Captive Insurance Company (2) 2037 % MONY Life Insurance Company (2) 2024 % Total $ (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Fixed rate obligations During the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the Company did not repurchase any of its outstanding non-recourse funding obligations. For the nine months ended September 30, 2014 (Predecessor Company), the Company repurchased $6.0 million of its outstanding non-recourse funding obligations, at a discount. The repurchase resulted in a $1.5 million pre-tax gain for the Company. These gains are recorded in other income in the consolidated condensed statements of income. Letters of Credit Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the original Reimbursement Agreement, dated April 23, 2010, UBS issued a letter of credit (the “LOC”) in the initial amount of $505 million to a trust for the benefit of WCL. The Reimbursement Agreement was subsequently amended and restated effective November 21, 2011 (the “First Amended and Restated Reimbursement Agreement”), to replace the existing LOC with one or more letters of credit from UBS, and to extend the maturity date from April 1, 2018, to April 1, 2022. On August 7, 2013, Golden Gate III entered into a Second Amended and Restated Reimbursement Agreement with UBS (the “Second Amended and Restated Reimbursement Agreement”), which amended and restated the First Amended and Restated Reimbursement Agreement. Under the Second and Amended and Restated Reimbursement Agreement a new LOC in an initial amount of $710 million was issued by UBS in replacement of the existing LOC issued under the First Amended and Restated Reimbursement Agreement. The term of the LOC was extended from April 1, 2022 to October 1, 2023, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $610 million to $720 million in 2015 if certain conditions had been met. On June 25, 2014, Golden Gate III entered into a Third Amended and Restated Reimbursement Agreement with UBS (the “Third Amended and Restated Reimbursement Agreement”), which amended and restated the Second Amended and Restated Reimbursement Agreement. Under the Third Amended and Restated Reimbursement Agreement, a new LOC in an initial amount of $915 million was issued by UBS in replacement of the existing LOC issued under the Second Amended and Restated Reimbursement Agreement. The term of the LOC was extended from October 1, 2023 to April 1, 2025, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $720 million to $935 million in 2015 if certain conditions are met. The LOC is held in trust for the benefit of WCL, and supports certain obligations of Golden Gate III to WCL under an indemnity reinsurance agreement originally effective April 1, 2010, as amended and restated on November 21, 2011, and as further amended and restated on August 7, 2013 and on June 25, 2014 to include additional blocks of policies, and pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. The LOC balance was $935 million as of September 30, 2015 (Successor Company). The term of the LOC is expected to be approximately 15 years from the original issuance date. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate III are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate III obligating PLC to make capital contributions or provide support related to certain of Golden Gate III’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate III. Future scheduled capital contributions amount to approximately $122.5 million and will be paid in three installments with the last payment occurring in 2021, and these contributions may be subject to potential offset against dividend payments as permitted under the terms of the Third Amended and Restated Reimbursement Agreement. The support agreements provide that amounts would become payable by PLC to Golden Gate III if Golden Gate III’s annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate III. Pursuant to the terms of an amended and restated letter agreement with UBS, PLC has continued to guarantee the payment of fees to UBS as specified in the Third Amended and Restated Reimbursement Agreement. As of September 30, 2015 (Successor Company), no payments have been made under these agreements. Golden Gate IV Vermont Captive Insurance Company (“Golden Gate IV”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement with UBS AG, Stamford Branch, as issuing lender. Under the Reimbursement Agreement, dated December 10, 2010, UBS issued an LOC in the initial amount of $270 million to a trust for the benefit of WCL. The LOC balance has increased, in accordance with the terms of the Reimbursement Agreement, during each quarter of 2015 and was $770 million as of September 30, 2015 (Successor Company). Subject to certain conditions, the amount of the LOC will be periodically increased up to a maximum of $790 million in 2016. The term of the LOC is expected to be 12 years from the original issuance date (stated maturity of December 30, 2022). The LOC was issued to support certain obligations of Golden Gate IV to WCL under an indemnity reinsurance agreement, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate IV are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate IV obligating PLC to make capital contributions or provide support related to certain of Golden Gate IV’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate IV. The support agreements provide that amounts would become payable by PLC to Golden Gate IV if Golden Gate IV’s annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate IV. PLC has also entered into a separate agreement to guarantee the payments of LOC fees under the terms of the Reimbursement Agreement. As of September 30, 2015 (Successor Company), no payments have been made under these agreements. Repurchase Program Borrowings While the Company anticipates that the cash flows of its operating subsidiaries will be sufficient to meet its investment commitments and operating cash needs in a normal credit market environment, the Company recognizes that investment commitments scheduled to be funded may, from time to time, exceed the funds then available. Therefore, the Company has established repurchase agreement programs for certain of its insurance subsidiaries to provide liquidity when needed. The Company expects that the rate received on its investments will equal or exceed its borrowing rate. Under this program, the Company may, from time to time, sell an investment security at a specific price and agree to repurchase that security at another specified price at a later date. These borrowings are 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 September 30, 2015 (Successor Company), the fair value of securities pledged under the repurchase program was $500.5 million and the repurchase obligation of $455.7 million was included in the Company’s consolidated condensed balance sheets (at an average borrowing rate of 22 basis points). During the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), the maximum balance outstanding at any one point in time related to these programs was $652.2 million and $175.0 million, respectively. The average daily balance was $530.5 million and $77.4 million (at an average borrowing rate of 18 and 16 basis points, respectively) during the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company), respectively. As of December 31, 2014 (Predecessor Company), the Company had a $50.0 million outstanding balance related to such borrowings. During 2014, the maximum balance outstanding at any one point in time related to these programs was $633.7 million. The average daily balance was $470.4 million (at an average borrowing rate of 11 basis points) during the year ended December 31, 2014 (Predecessor Company). The following table provides the amount of collateral pledged for repurchase agreements, grouped by asset class, as of September 30, 2015 (Successor Company): Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of September 30, 2015 (Successor Company) (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30-90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ $ $ $ — $ State and municipal securities — — — — — Other asset-backed securities — — — — — Corporate securities — — — — — Equity securities — — — — — Non-U.S. sovereign debt — — — — — Mortgage loans — — — Other asset-backed securities — — — — — Total borrowings $ $ $ $ — $

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES Under insurance guaranty fund laws, in most states insurance companies doing business therein can be assessed up to prescribed limits for policyholder losses incurred by insolvent companies. In addition, from time to time, companies may be asked to contribute amounts beyond prescribed limits. Most insurance guaranty fund laws provide that an assessment may be excused or deferred if it would threaten an insurer’s own financial strength. The Company does not believe its insurance guaranty fund assessments will be materially different from amounts already provided for in the financial statements. A number of civil jury verdicts have been returned against insurers, broker dealers and other providers of financial services involving sales, refund or claims practices, alleged agent misconduct, failure to properly supervise representatives, relationships with agents or persons with whom the insurer does business, and other matters. Often these lawsuits have resulted in the award of substantial judgments that are disproportionate to the actual damages, including material amounts of punitive and non-economic compensatory damages. In some states, juries, judges, and arbitrators have substantial discretion in awarding punitive non-economic compensatory damages which creates the potential for unpredictable material adverse judgments or awards in any given lawsuit or arbitration. Arbitration awards are subject to very limited appellate review. In addition, in some class action and other lawsuits, companies have made material settlement payments. Publicly held companies in general and the financial services and insurance industries in particular are also sometimes the target of law enforcement and regulatory investigations relating to the numerous laws and regulations that govern such companies. Some companies have been the subject of law enforcement or regulatory actions or other actions resulting from such investigations. The Company, in the ordinary course of business, is involved in such matters. The Company establishes liabilities for litigation and regulatory actions when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly and annual basis and updates its established liabilities, disclosures and estimates of reasonably possible losses or range of loss based on such reviews. Although the Company cannot predict the outcome of any litigation or regulatory action, the Company does not believe that any such outcome will have an impact, either individually or in the aggregate, on its financial condition or results of operations that differs materially from the Company’s established liabilities. Given the inherent difficulty in predicting the outcome of such matters, however, it is possible that an adverse outcome in certain such matters could be material to the Company’s financial condition or results of operations for any particular reporting period. In 2012, the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable income. The Company protested certain unfavorable adjustments and was seeking resolution at the IRS’ Appeals Division. The case followed normal procedure and was under review at Congress’ Joint Committee on Taxation. Subsequent to September 30, 2015, Appeals accepted the Company’s proposed settlement offer that related to its earlier protest. As a result, PLC, the parent of the consolidated income tax return group of which the Company is a part, expects to pay approximately $13.0 million in tax. A portion of this payment would be made by the Company. This payment will not materially impact the Company nor its effective tax rate. In the three months ended September 30, 2015, the IRS proposed favorable and unfavorable adjustments to the Company’s 2008 through 2011 reported taxable income. The Company agreed to these adjustments. As a result, PLC, the parent of the consolidated income tax return group of which the Company is a part, expects to receive approximately $9.8 million in tax refunds. However, due to the activity in the previous exam cycle per the preceding paragraph, these tax computations are in the process of being recomputed. Some portion of these refunds will be due to the Company. Regardless of these recalculations, these refunds will not materially affect the Company’s effective tax rate. Through the acquisition of MONY by the Company certain income tax credit carryforwards, which arose in MONY’s pre-acquisition tax years, transferred to the Company. This transfer was in accordance with the applicable rules of the Internal Revenue Code and the related Regulations. In spite of this transfer, AXA, the former parent of the consolidated income tax return group in which MONY was a member, retains the right to utilize these credits in the future to offset future increases in its 2010 through 2013 tax liabilities. The Company had determined that, based on all information known as of the acquisition date and through the March 31, 2014 reporting date, it was probable that a loss of the utilization of these carryforwards had been incurred. Due to indemnification received from AXA during the quarter ending June 30, 2014, the probability of loss of these carryforwards has been eliminated. Accordingly, in the table summarizing the fair value of net assets acquired from the Acquisition, the amount of the deferred tax asset from the credit carryforwards is no longer offset by a liability. Certain of the Company’s insurance subsidiaries, as well as certain other insurance companies for which the Company has coinsured blocks of life insurance and annuity policies, are under audit for compliance with the unclaimed property laws of a number of states. The audits are being conducted on behalf of the treasury departments or unclaimed property administrators in such states. The focus of the audits is on whether there have been unreported deaths, maturities, or policies that have exceeded limiting age with respect to which death benefits or other payments under life insurance or annuity policies should be treated as unclaimed property that should be escheated to the state. The Company is presently unable to estimate the reasonably possible loss or range of loss that may result from the audits due to a number of factors, including uncertainty as to the legal theory or theories that may give rise to liability, the early stages of the audits being conducted, and, with respect to one block of life insurance policies that is co-insured by a subsidiary of the Company, uncertainty as to whether the Company or other companies are responsible for the liabilities, if any, arising in connection with such policies. The Company will continue to monitor the matter for any developments that would make the loss contingency associated with the audits probable or reasonably estimable. Certain of the Company’s subsidiaries are under a targeted multi-state examination with respect to their claims paying practices and their use of the U.S. Social Security Administration’s Death Master File or similar databases (a “Death Database”) to identify unreported deaths in their life insurance policies, annuity contracts and retained asset accounts. There is no clear basis in previously existing law for requiring a life insurer to search for unreported deaths in order to determine whether a benefit is owed, and substantial legal authority exists to support the position that the prevailing industry practice was lawful. A number of life insurers, however, have entered into settlement or consent agreements with state insurance regulators under which the life insurers agreed to implement procedures for periodically comparing their life insurance and annuity contracts and retained asset accounts against a Death Database, treating confirmed deaths as giving rise to a death benefit under their policies, locating beneficiaries and paying them the benefits and interest, and escheating the benefits and interest as well as penalties to the state if the beneficiary could not be found. It has been publicly reported that the life insurers have paid administrative and/or examination fees to the insurance regulators in connection with the settlement or consent agreements. The Company believes it is reasonably possible that insurance regulators could demand from the Company administrative and/or examination fees relating to the targeted multi-state examination. Based on publicly reported payments by other life insurers, the Company estimates the range of such fees to be from $0 to $3.5 million.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2015
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	12. EMPLOYEE BENEFIT PLANS Due to the Dai-ichi Life transaction, PLC re-measured all materially impacted benefit plans as of January 31, 2015 (Predecessor Company). Financial re-measurement was performed for the defined benefit pension plan, the unfunded excess benefit plan, and the postretirement life insurance plan as of January 31, 2015 (Predecessor Company). The January 2015 results for the retiree life plan were not material, and therefore, re-measurement was not deemed necessary for this plan. The Company has disclosed relevant financial information related to the applicable January 31, 2015 (Predecessor Company) re-measurements, as follows. The following table presents the benefit obligation, fair value of plan assets, and the funded status of the PLC’s defined benefit pension plan and unfunded excess benefit plan as of January 31, 2015 (Predecessor Company) and December 31, 2014 (Predecessor Company). This table also includes the amounts not yet recognized as components of net periodic pension costs as of January 31, 2015 (Predecessor Company) and December 31, 2014 (Predecessor Company). Predecessor Company Defined Benefit Unfunded Excess Pension Plan Benefits Plan As of As of As of As of January 31, 2015 December 31, 2014 January 31, 2015 December 31, 2014 (Dollars In Thousands) Accumulated benefit obligation, end of period $ $ $ $ Change in projected benefit obligation: Projected benefit obligation at beginning of period $ $ $ $ Service cost Interest cost Amendments — — — — Actuarial (gain) or loss Benefits paid ) ) ) ) Projected benefit obligation at end of period Change in plan assets: Fair value of plan assets at beginning of period — — Actual return on plan assets ) — — Employer contributions (1) Benefits paid ) ) ) ) Fair value of plan assets at end of period — — After reflecting FASB guidance Funded status ) ) ) ) Amounts recognized in the balance sheet: Other liabilities ) ) ) ) Amounts recognized in accumulated other comprehensive income: Net actuarial loss Prior service cost/(credit) ) ) Total amounts recognized in AOCI $ $ $ $ (1) Employer contributions disclosed are based on the Company’s fiscal filing year. As of January 31, 2015 (Predecessor Company) and December 31, 2014 (Predecessor Company), the projected benefit obligation associated with the postretirement life insurance plan was $9.8 million and $9.3 million, respectively. As a result of the Merger on February 1, 2015, all unrecognized prior service costs or credits, actuarial gains or losses, and any remaining transition assets or obligations were not carried forward on the acquisition date. Therefore, the amounts presented in the “Amounts recognized in accumulated other comprehensive income” in the chart above were set to zero on the Merger date. The benefit obligations as of January 31, 2015 (Predecessor Company) were determined based on the assumptions used in the 2014 year-end disclosures with the following exception: Defined Benefit Unfunded Excess Postretirement Pension Plan Benefit Plan Life Insurance Plan Discount rate % % % Components of the net periodic benefit cost for the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the three and nine months ended September 30, 2014 (Predecessor Company) are as follows: Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 Defined Unfunded Defined Unfunded Defined Unfunded Defined Unfunded Defined Unfunded Benefit Excess Benefit Excess Benefit Excess Benefit Excess Benefit Excess Pension Benefit Pension Benefit Pension Benefit Pension Benefit Pension Benefit Plan Plan Plan Plan Plan Plan Plan Plan Plan Plan (Dollars In Thousands) (Dollars In Thousands) Service cost — benefits earned during the period $ $ $ $ $ $ $ $ $ $ Interest cost on projected benefit obligation Expected return on plan assets ) — ) — ) — ) — ) — Amortization of prior service cost — — — — ) ) ) Amortization of actuarial losses — — — — Total net periodic benefit costs $ $ $ $ $ $ $ $ $ $ During the period of January 1, 2015 to January 31, 2015 (Predecessor Company), PLC contributed $2.2 million to its defined benefit pension plan for the 2014 plan year. During the period of February 1, 2015 to September 30, 2015 (Successor Company), PLC contributed $1.4 million to its defined benefit pension plan for the 2014 plan year. PLC will continue to make contributions in future periods as necessary to at least satisfy minimum funding requirements. PLC may also make additional contributions in future periods to maintain an adjusted funding target attainment percentage (“AFTAP”) of at least 80% and to avoid certain Pension Benefit Guaranty Corporation (“PBGC”) reporting triggers.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	13. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of September 30, 2015 (Successor Company), January 31, 2015 (Predecessor Company), and December 31, 2014 (Predecessor Company). Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Successor Company Beginning Balance, February 1, 2015 $ — $ — $ — Other comprehensive income (loss) before reclassifications ) ) ) Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings ) — ) Amounts reclassified from accumulated other comprehensive income (loss) (1) Net current-period other comprehensive income (loss) ) — ) Ending Balance, September 30, 2015 $ ) $ — $ ) (1) See Reclassification table below for details. (2) As of September 30, 2015 net unrealized losses reported in AOCI were offset by $506.9 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Predecessor Company Beginning Balance, December 31, 2014 $ $ ) $ Other comprehensive income (loss) before reclassifications Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings ) — ) Amounts reclassified from accumulated other comprehensive income (loss) (1) ) ) Net current-period other comprehensive income (loss) Ending Balance, January 31, 2015 $ $ ) $ (1) See Reclassification table below for details. (2) As of January 31, 2015 and December 31, 2014 net unrealized losses reported in AOCI were offset by $(492.6) million and $(504.4) million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Predecessor Company Beginning Balance, December 31, 2013 $ $ ) $ Other comprehensive income (loss) before reclassifications ) Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings — Amounts reclassified from accumulated other comprehensive income (loss) (1) ) ) Net current-period other comprehensive income (loss) Ending Balance, December 31, 2014 $ $ ) $ (1) See Reclassification table below for details. (2) As of December 31, 2014 and 2013 net unrealized losses reported in AOCI were offset by $(504.4) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. The following tables summarize the reclassifications amounts out of AOCI for the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the three and nine months ended September 30, 2014 (Predecessor Company). Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Successor Company For The Three Months Ended September 30, 2015 Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ ) Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings ) Total before tax Tax (expense) or benefit $ ) Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Successor Company February 1, 2015 to September 30, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings ) Total before tax Tax (expense) or benefit $ ) Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company For The Three Months Ended September 30, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company For The Nine Months Ended September 30, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
INCOME TAXES
INCOME TAXES	14. INCOME TAXES The Company used its respective estimates of its annual 2015 and 2014 incomes in computing its effective income tax rates for the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the three and nine months ended September 30, 2014 (Predecessor Company). The effective tax rates for the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company), and for the three and nine months ended September 30, 2014 (Predecessor Company) were 27.3%, 28.0%, 32.8%, 33.8%, and 33.0%, respectively. In conjunction with the Merger and as a result of the adjustments to the Company’s assets and liabilities which were discussed in Note 2, Summary of Significant Accounting Policies , the Company’s deferred tax assets and liabilities were re-measured as of the date of the Merger. The components of the Company’s net deferred income tax liability are as follows: Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ $ Premium receivables and policy liabilities — Deferred compensation Invested assets (other than unrealized gains) — Deferred policy acquisition costs — Net unrealized loss on investments — Valuation allowance ) ) Deferred income tax liabilities: VOBA and other intangibles — Premium receivables and policy liabilities — DAC and VOBA — Invested assets (other than unrealized gains) — Net unrealized gains on investments — Other Net deferred income tax liability $ ) $ ) A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ $ $ Additions for tax positions of the current year ) Additions for tax positions of prior years Reductions of tax positions of prior years: Changes in judgment ) ) ) Settlements during the period ) — — Lapses of applicable statute of limitations — — — Balance, end of period $ $ $ The revisions to the Company’s unrecognized tax benefits for the period of February 1, 2015 to September 30, 2015 (Successor Company) are shown in the chart above. These revisions included increasing prior determinations of amounts accrued for earlier years as well as reducing some previously accrued amounts. These revisions were primarily related to timing issues. However, revisions were made to certain issues that constituted permanent differences between GAAP income and taxable income. The tax on these permanent differences, excluding interest, caused income tax expense to increase by approximately $4.1 million, $0.2 million, and $3.3 million for the period of February 1, 2015 to September 30, 2015 (Successor Company), the one month ended January 31, 2015 (Predecessor Company), and the year ended December 31, 2014 (Predecessor Company), respectively. In the IRS audit that concluded in 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 was seeking resolution at the IRS’ Appeals Division. Subsequent to September 30, 2015, Appeals accepted the Company’s proposed settlement offer that related to its earlier protest. In the IRS audit that concluded during the three months ended September 30, 2015, the IRS proposed favorable and unfavorable adjustments to the Company’s 2008 through 2011 reported taxable income. The Company agreed to these adjustments. The resulting net adjustment to the Company’s income taxes for the year 2003 through 2011 will not materially affect the Company nor its effective tax rate. The Company is currently under audit by the IRS for the years 2012 and 2013. As of September 30, 2015, no materially adverse adjustments to reported taxable income have been proposed. The Company believes that in the next 12 months approximately $14.3 million of these unrecognized tax benefits will be reduced. Based upon technical guidance and ongoing discussions with the IRS, the Company anticipates that within the next 12 months it will reach final settlement with the IRS regarding its material uncertain tax positions for the years 2003 through 2013. In general, the Company is no longer subject to U.S. federal, state, and local income tax examinations by taxing authorities for tax years that began before 2003. Based on the Company’s current assessment of future taxable income, including available tax planning opportunities, the Company anticipates that it is more likely than not that it will generate sufficient taxable income to realize all of its material deferred tax assets. The Company did not record a valuation allowance against its material deferred tax assets as of September 30, 2015.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	15. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company determined the fair value of its financial instruments based on the fair value hierarchy established in FASB guidance referenced in the Fair Value Measurements and Disclosures Topic which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company has adopted the provisions from the FASB guidance that is referenced in the Fair Value Measurements and Disclosures Topic for non-financial assets and liabilities (such as property and equipment, goodwill, and other intangible assets) that are required to be measured at fair value on a periodic basis. The effect on the Company’s periodic fair value measurements for non-financial assets and liabilities was not material. The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the consolidated balance sheets are categorized as follows: · Level 1: Unadjusted quoted prices for identical assets or liabilities in an active market. · Level 2: Quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly. Level 2 inputs include the following: a) Quoted prices for similar assets or liabilities in active markets b) Quoted prices for identical or similar assets or liabilities in non-active markets c) Inputs other than quoted market prices that are observable d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means. · Level 3: Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ $ $ Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities Preferred stock — — Total fixed maturity securities - available-for-sale Fixed maturity securities - trading Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities — Preferred stock — — Total fixed maturity securities - trading Total fixed maturity securities Equity securities Other long-term investments (1) Short-term investments — Total investments Cash — — Assets related to separate accounts Variable annuity — — Variable universal life — — Total assets measured at fair value on a recurring basis $ $ $ $ Liabilities: Annuity account balances (2) $ — $ — $ $ Other liabilities (1) Total liabilities measured at fair value on a recurring basis $ $ $ $ (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ $ $ Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — Other government-related securities — — Corporate securities Total fixed maturity securities - available-for-sale Fixed maturity securities - trading Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities — Total fixed maturity securities - trading Total fixed maturity securities Equity securities Other long-term investments (1) Short-term investments — Total investments Cash — — Other assets — — — — Assets related to separate accounts Variable annuity — — Variable universal life — — Total assets measured at fair value on a recurring basis $ $ $ $ Liabilities: Annuity account balances (2) $ — $ — $ $ Other liabilities (1) Total liabilities measured at fair value on a recurring basis $ $ $ $ (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. Determination of fair values The valuation methodologies used to determine the fair values of assets and liabilities reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Company determines the fair values of certain financial assets and financial liabilities based on quoted market prices, where available. The Company also determines certain fair values based on future cash flows discounted at the appropriate current market rate. Fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity, and where appropriate, risk margins on unobservable parameters. The following is a discussion of the methodologies used to determine fair values for the financial instruments as listed in the above table. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Third party pricing services price approximately 90% of the Company’s available-for-sale and trading fixed maturity securities. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non- binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which we purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party pricing service or an independent broker quotation. The pricing matrix used by the Company begins with current spread levels to determine the market price for the security. The credit spreads, assigned by brokers, incorporate the issuer’s credit rating, liquidity discounts, weighted- average of contracted cash flows, risk premium, if warranted, due to the issuer’s industry, and the security’s time to maturity. The Company uses credit ratings provided by nationally recognized rating agencies. For securities that are priced via non-binding independent broker quotations, the Company assesses whether prices received from independent brokers represent a reasonable estimate of fair value through an analysis using internal and external cash flow models developed based on spreads and, when available, market indices. The Company uses a market-based cash flow analysis to validate the reasonableness of prices received from independent brokers. These analytics, which are updated daily, incorporate various metrics (yield curves, credit spreads, prepayment rates, etc.) to determine the valuation of such holdings. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the analytics, the price received from the independent broker is adjusted accordingly. The Company did not adjust any quotes or prices received from brokers during the period of February 1, 2015 to September 30, 2015 (Successor Company) and the period of January 1, 2015 to January 31, 2015 (Predecessor Company). The Company has analyzed the third party pricing services’ valuation methodologies and related inputs and has also evaluated the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity and the observability of market inputs that is in accordance with the Fair Value Measurements and Disclosures Topic of the ASC. Based on this evaluation and investment class analysis, each price was classified into Level 1, 2, or 3. Most prices provided by third party pricing services are classified into Level 2 because the significant inputs used in pricing the securities are market observable and the observable inputs are corroborated by the Company. Since the matrix pricing of certain debt securities includes significant non-observable inputs, they are classified as Level 3. Asset-Backed Securities This category mainly consists of residential mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”). As of September 30, 2015 (Successor Company), the Company held $3.7 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 September 30, 2015 (Successor Company), the Company held $740.9 million of Level 3 ABS, which included $585.8 million of other asset-backed securities classified as available-for-sale and $155.1 million of other asset-backed securities classified as trading. These securities are predominantly ARS whose underlying collateral is at least 97% guaranteed by the FFELP. As a result of the ARS market collapse during 2008, the Company prices its ARS using an income approach valuation model. As part of the valuation process the Company reviews the following characteristics of the ARS in determining the relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, 7) credit ratings of the securities, 8) liquidity premium, and 9) paydown rate. Corporate Securities, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities As of September 30, 2015 (Successor Company), the Company classified approximately $28.7 billion of corporate securities, U.S. government-related securities, states, municipals, and political subdivisions, and other government-related securities as Level 2. The fair value of the Level 2 securities is predominantly priced by broker quotes and a third party pricing service. The Company has reviewed the valuation techniques of the brokers and third party pricing service and has determined that such techniques used Level 2 market observable inputs. The following characteristics of the securities are considered to be the primary relevant inputs to the valuation: 1) weighted- average coupon rate, 2) weighted-average years to maturity, 3) seniority, and 4) credit ratings. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation. The brokers and third party pricing service utilize valuation models that consist of a hybrid income and market approach to valuation. The pricing models utilize the following inputs: 1) principal and interest payments, 2) treasury yield curve, 3) credit spreads from new issue and secondary trading markets, 4) dealer quotes with adjustments for issues with early redemption features, 5) liquidity premiums present on private placements, and 6) discount margins from dealers in the new issue market. As of September 30, 2015 (Successor Company), the Company classified approximately $1.1 billion 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 September 30, 2015 (Successor Company), the Company held approximately $78.3 million of equity securities classified as Level 2 and Level 3. Of this total, $65.7 million represents Federal Home Loan Bank (“FHLB”) stock. The Company believes that the cost of the FHLB stock approximates fair value. The remainder of these equity securities is primarily investments in preferred stock. 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 16, 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 September 30, 2015 (Successor Company), 83.2% of derivatives based upon notional values were priced using exchange prices or independent broker quotations. The remaining derivatives were priced by pricing valuation models, which predominantly utilize observable market data inputs. Inputs used to value derivatives include, but are not limited to, interest swap rates, credit spreads, interest rate and equity market volatility indices, equity index levels, and treasury rates. The Company performs monthly analysis on derivative valuations that includes both quantitative and qualitative analyses. Derivative instruments classified as Level 1 generally include futures and options, which are traded on active exchange markets. Derivative instruments classified as Level 2 primarily include interest rate and inflation swaps, options, and swaptions. These derivative valuations are determined using independent broker quotations, which are corroborated with observable market inputs. Derivative instruments classified as Level 3 are 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 condensed balance sheet. The changes in fair value are recorded in earnings as “Realized investment gains (losses)—Derivative financial instruments”. Refer to Note 16, Derivative Financial Instruments for more information related to each embedded derivatives gains and losses. The fair value of the GMWB embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using multiple risk neutral stochastic equity scenarios and policyholder behavior assumptions. The risk neutral scenarios are generated using the current swap curve and projected equity volatilities and correlations. The projected equity volatilities are based on a blend of historical volatility and near- term equity market implied volatilities. The equity correlations are based on historical price observations. For policyholder behavior assumptions, expected lapse and utilization assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 44.5% - 100%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR plus a credit spread (to represent the Company’s non-performance risk). As a result of using significant unobservable inputs, the GMWB embedded derivative is categorized as Level 3. These assumptions are reviewed on a quarterly basis. The balance of the FIA embedded derivative is impacted by policyholder cash flows associated with the FIA product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the FIA embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the 1994 Variable Annuity MGDB mortality table modified for company experience, with attained age factors varying from 49% - 80%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the FIA embedded derivative is categorized as Level 3. The balance of the indexed universal life (“IUL”) embedded derivative is impacted by policyholder cash flows associated with the IUL product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the IUL embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the SOA 2015 VBT Primary Tables modified for company experience, with attained age factors varying from 38% - 153%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the IUL embedded derivative is categorized as Level 3. The Company has assumed and ceded certain blocks of policies under modified coinsurance agreements in which the investment results of the underlying portfolios inure directly to the reinsurers. As a result, these agreements contain embedded derivatives that are reported at fair value. Changes in their fair value are reported in earnings. The investments supporting these agreements are designated as “trading securities”; therefore changes in their fair value are also reported in earnings. As of September 30, 2015 (Successor Company), the fair value of the embedded derivative is based upon the relationship between the statutory policy liabilities (net of policy loans) of $2.5 billion and the statutory unrealized gain (loss) of the securities of $227.9 million. As a result, changes in the fair value of the embedded derivatives are largely offset by the changes in fair value of the related investments and each are reported in earnings. The fair value of the embedded derivative is considered a Level 3 valuation due to the unobservable nature of the policy liabilities. Certain of the Company’s subsidiaries have entered into interest support, 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 September 30, 2015 (Successor Company) was $5.8 million and is included in Other long-term investments. For information regarding realized gains on these derivatives please refer to Note 16, 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 $3.7 million as of September 30, 2015 (Successor Company), however, interest support agreement obligations to Golden Gate II of approximately $1.9 million have been collateralized by PLC. 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 agreement. As of September 30, 2015 (Successor Company), no payments have been triggered under this agreement. The YRT Premium support agreement provides that PLC will make payments to Golden Gate II in the event that YRT premium rates increase. The derivative is valued using an internal valuation model. The valuation model is a probability weighted discounted cash flow model. The value is primarily a function of the likelihood and severity of future YRT premium increases. The fair value of this derivative as of September 30, 2015 (Successor Company) was $2.2 million. As of September 30, 2015 (Successor Company), no payments have been made under this agreement. The portfolio maintenance agreements provide that PLC will make payments to Golden Gate V and WCL in the event of other-than-temporary impairments on investments that exceed defined thresholds. The derivatives are valued using an internal discounted cash flow model. The significant unobservable inputs are the projected probability and severity of credit losses used to project future cash flows on the investment portfolios. The fair value of the portfolio maintenance agreements as of September 30, 2015 (Successor Company), was zero. As of September 30, 2015 (Successor Company), no payments have been made 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 September 30, 2015 (Successor Company) was a liability of $135.6 million. Annuity account balances The Company records certain of its FIA reserves at fair value. The fair value is considered a Level 3 valuation. The FIA valuation model calculates the present value of future benefit cash flows less the projected future profits to quantify the net liability that is held as a reserve. This calculation is done using multiple risk neutral stochastic equity scenarios. The cash flows are discounted using LIBOR plus a credit spread. Best estimate assumptions are used for partial withdrawals, lapses, expenses and asset earned rate with a risk margin applied to each. These assumptions are reviewed at least annually as a part of the formal unlocking process. If an event were to occur within a quarter that would make the assumptions unreasonable, the assumptions would be reviewed within the quarter. The discount rate for the fixed indexed annuities is based on an upward sloping rate curve which is updated each quarter. The discount rates for September 30, 2015 (Successor Company), ranged from a one month rate of 0.40%, a 5 year rate of 2.19%, and a 30 year rate of 3.69%. A credit spread component is also included in the calculation to accommodate non-performance risk. Separate Accounts Separate account assets are invested in open-ended mutual funds and are included in Level 1. Valuation of Level 3 Financial Instruments The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Successor Company Fair Value As of Valuation Unobservable Range September 30, 2015 Technique Input (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ Discounted cash flow Liquidity premium 0.43% - 1.49% (0.70%) Paydown rate 9.85% - 15.41% (13.17%) Corporate securities Discounted cash flow Spread over treasury 0.74% - 12.18% (2.45%) Liabilities: Embedded derivatives - GMWB (1) $ Actuarial cash flow model Mortality 1994 MGDB table with company experience Lapse 0.3% - 15%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.17% Annuity account balances (2) Actuarial cash flow model Asset earned rate 4.53% - 5.67% Expenses $81 per policy Withdrawal rate 2.20% Mortality 1994 MGDB table with company experience Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.21% - 1.17% Embedded derivative - FIA Actuarial cash flow model Expenses $81.5 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 1994 MGDB table with company experience Lapse 2.5% - 40.0%, depending on on duration/surrender charge period Nonperformance risk 0.21% - 1.17% Embedded derivative - IUL Actuarial cash flow model Mortality 38% - 153% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.17% (1) The fair value for the GMWB embedded derivative is presented as a net liability for the purposes of this chart. Excludes modified coinsurance arrangements. (2) Represents liabilities related to fixed indexed annuities. The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value. The Company has considered all reasonably available quantitative inputs as of September 30, 2015 (Successor Company), but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $199.8 million of financial instruments being classified as Level 3 as of September 30, 2015 (Successor Company). Of the $199.8 million, $155.2 million are other asset-backed securities and $44.6 million are corporate securities. In certain cases the Company has determined that book value materially approximates fair value. As of September 30, 2015 (Successor Company), the Company held $66.5 million of financial instruments where book value approximates fair value which were 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: Predecessor Company Fair Value As of Valuation Unobservable Range December 31, 2014 Technique Input (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ Discounted cash flow Liquidity premium 0.39% - 1.49% (0.69%) Paydown rate 9.70% - 15.80% (12.08%) Corporate securities Discounted cash flow Spread over 0.33% - 7.50% (2.19%) treasury Liabilities: Embedded derivatives - GMWB (1) $ Actuarial cash flow model Mortality 44.5% to 100% of 1994 MGDB table Lapse 0.25% - 17%, depending on product/duration/funded status of guarantee Utilization 97% - 101% Nonperformance risk 0.12% - 0.96% Annuity account balances (2) Actuarial cash flow model Asset earned rate 3.86% - 5.92% Expenses $88 - $102 per policy Withdrawal rate 2.20% Mortality 49% to 80% of 1994 MGDB table Lapse 2.2% - 33.0%, dependin

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	16. DERIVATIVE FINANCIAL INSTRUMENTS Types of Derivative Instruments and Derivative Strategies The Company utilizes a risk management strategy that incorporates the use of derivative financial instruments to reduce exposure to certain risks, including but not limited to, interest rate risk, inflation risk, currency exchange risk, volatility risk, and equity market risk. These strategies are developed through the Company’s analysis of data from financial simulation models and other internal and industry sources, and are then incorporated into the Company’s risk management program. Derivative instruments expose the Company to credit and market risk and could result in material changes from period to period. The Company attempts to minimize its credit risk by entering into transactions with highly rated counterparties. The Company manages the market risk by establishing and monitoring limits as to the types and degrees of risk that may be undertaken. The Company monitors its use of derivatives in connection with its overall asset/liability management programs and risk management strategies. In addition, all derivative programs are monitored by our risk management department. Derivatives Related to Interest Rate Risk Management Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps, interest rate futures, interest rate caps, and interest rate swaptions. The Company’s inflation risk management strategy involves the use of swaps that requires the Company to pay a fixed rate and receive a floating rate that is based on changes in the Consumer Price Index (“CPI”). Derivatives Related to Risk Mitigation of Certain Annuity Contracts The Company may use the following types of derivative contracts to mitigate its exposure to certain guaranteed benefits related to VA, fixed indexed annuity, and indexed universal life contracts: · Foreign Currency Futures · Variance Swaps · Interest Rate Futures · Equity Options · Equity Futures · Credit Derivatives · Interest Rate Swaps · Interest Rate Swaptions · Volatility Futures · Volatility Options · Funds Withheld Agreement · Total Return Swaps Other Derivatives The Company and certain of its subsidiaries have derivatives with PLC. These derivatives consist of an interest support agreement, a YRT premium support agreement, and portfolio maintenance agreements with PLC. The Company has a funds withheld account that consists of various derivative instruments held by us that is used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument. Accounting for Derivative Instruments The Company records its derivative financial instruments in the consolidated condensed balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in other comprehensive income (loss), depending upon whether it qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For a derivative financial instrument to be accounted for as an accounting hedge, it must be identified and documented as such on the date of designation. For cash flow hedges, the effective portion of their realized gain or loss is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain attributable to the hedged risk of the hedged item is recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship through earnings in the period of change. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses) - Derivative financial instruments”. Derivative Instruments Designated and Qualifying as Hedging Instruments Cash-Flow Hedges · In connection with the issuance of inflation-adjusted funding agreements, the Company has entered into swaps to essentially convert the floating CPI-linked interest rate on these agreements to a fixed rate. The Company pays a fixed rate on the swap and receives a floating rate primarily determined by the period’s change in the CPI. The amounts that are received on the swaps are almost equal to the amounts that are paid on the agreements. None of these positions were held as of September 30, 2015 (Successor Company), as these funding agreements and correlating swaps matured in June of 2015. Derivative Instruments Not Designated and Not Qualifying as Hedging Instruments The Company uses various other derivative instruments for risk management purposes that do not qualify for hedge accounting treatment. Changes in the fair value of these derivatives are recognized in earnings during the period of change. Derivatives Related to Variable Annuity Contracts · The Company uses equity, interest rate, currency, and volatility futures to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity and interest rate markets, foreign currency levels, and overall volatility. · The Company uses equity options, variance swaps, and volatility options to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity markets and overall volatility. · The Company uses interest rate swaps and interest rate swaptions to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. · The Company markets certain VA products with a GMWB rider. The GMWB component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. · The Company has a funds withheld account that consists of various derivative instruments held by the Company that are used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument. Derivatives Related to Fixed Annuity Contracts · The Company uses equity, futures, and options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity and overall volatility. · The Company uses equity options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity markets. · The Company markets certain fixed indexed annuity products. The FIA component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Derivatives Related to Indexed Universal Life Contracts · The Company uses equity, futures, and options to mitigate the risk within its indexed universal life products. In general, the cost of such benefits varies with the level of equity markets. · The Company markets certain IUL products. The IUL component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Other Derivatives · The Company uses certain interest rate swaps to mitigate the price volatility of fixed maturities. None of these positions were held as of September 30, 2015 (Successor Company). · The Company and certain of its subsidiaries have an interest support agreement, YRT premium support agreement, and two portfolio maintenance agreements with PLC. The Company entered into two separate portfolio maintenance agreements in October 2012. · 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 and funds withheld 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 and funds withheld arrangements had fair value changes which substantially offset the gains or losses on these embedded derivatives. The following table sets forth realized investments gains and losses for the periods shown: Realized investment gains (losses) - derivative financial instruments Successor Predecessor Company Company For The Three February 1, 2015 For The Three For The Nine Months Ended to January 1, 2015 Months Ended Months Ended September 30, September 30, to September 30, September 30, 2015 2015 January 31, 2015 2014 2014 (Dollars In Thousands) (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures - VA $ $ ) $ $ $ Equity futures - VA ) Currency futures - VA Variance swaps - VA — — — ) Equity options - VA ) Interest rate swaptions - VA ) ) ) ) Interest rate swaps - VA ) Embedded derivative - GMWB ) ) ) ) Funds withheld derivative ) ) ) ) Total derivatives related to VA contracts ) Derivatives related to FIA contracts: Embedded derivative - FIA ) ) Equity futures - FIA ) Volatility futures - FIA ) — ) Equity options - FIA ) ) ) Total derivatives related to FIA contracts ) ) ) ) Derivatives related to IUL contracts: Embedded derivative - IUL ) Equity futures - IUL Equity options - IUL ) ) ) ) ) Total derivatives related to IUL contracts ) Embedded derivative - Modco reinsurance treaties ) ) ) Derivatives with PLC (1) ) ) Other derivatives ) ) ) ) Total realized gains (losses) - derivatives $ $ $ $ $ ) (1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC. The following table sets forth realized investments gains and losses for the Modco trading portfolio that is included in realized investment gains (losses) — all other investments: Realized investment gains (losses) - all other investments Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Modco trading portfolio (1) $ $ ) $ $ ) $ (1) The Company elected to include the use of alternate disclosures for trading activities. The following table presents the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship: Gain (Loss) on Derivatives in Cash Flow Hedging Relationship Amount and Location of Amount of Gains (Losses) Gains (Losses) Deferred in Reclassified from Amount and Location of Accumulated Other Accumulated Other (Losses) Recognized in Comprehensive Income Comprehensive Income Income (Loss) on (Loss) on Derivatives (Loss) into Income (Loss) Derivatives (Effective Portion) (Effective Portion) (Ineffective Portion) Benefits and settlement Realized investment expenses gains (losses) (Dollars In Thousands) Successor Company For The Three Months Ended September 30, 2015 Inflation $ — $ — $ — Total $ — $ — $ — Successor Company February 1, 2015 to September 30, 2015 Inflation $ ) $ ) $ Total $ ) $ ) $ Predecessor Company January 1, 2015 to January 31, 2015 Inflation $ $ ) $ ) Total $ $ ) $ ) Predecessor Company For The Three Months Ended September 30, 2014 Inflation $ ) $ ) $ ) Total $ ) $ ) $ ) Predecessor Company For The Nine Months Ended September 30, 2014 Inflation $ ) $ ) $ ) Total $ ) $ ) $ ) The table below present information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated condensed financial statements for the periods presented below: Successor Predecessor Company Company As of September 30, 2015 As of December 31, 2014 Notional Fair Notional Fair Amount Value Amount Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Derivatives not designated as hedging instruments: Interest rate swaps $ $ $ $ Derivatives with PLC (1) Embedded derivative - Modco reinsurance treaties Embedded derivative — GMWB Interest rate futures Equity futures Currency futures Equity options Interest rate swaptions Other $ $ $ $ Other liabilities Cash flow hedges: Inflation $ — $ — $ $ Derivatives not designated as hedging instruments: Interest rate swaps Embedded derivative - Modco reinsurance treaties Funds withheld derivative Embedded derivative - GMWB Embedded derivative - FIA Embedded derivative - IUL Interest rate futures — — Equity futures Currency futures — — Equity options Other — — $ $ $ $ (1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC. The Company reclassified the remaining balance of its cash flow hedge derivative financial instruments out of accumulated other comprehensive income (loss) into earnings during the period of February 1, 2015 to September 30, 2015 (Successor Company) as these derivative financial instruments matured in June of 2015.

OFFSETTING OF ASSETS AND LIABIL

OFFSETTING OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2015
OFFSETTING OF ASSETS AND LIABILITIES
OFFSETTING OF ASSETS AND LIABILITIES	17. 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 10, Debt and Other Obligations for details of the Company’s repurchase agreement programs. The tables below present the derivative instruments by assets and liabilities for the Company as of September 30, 2015 (Successor Company). Net Amounts Gross of Assets Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Assets Position Position Instruments Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Embedded derivative - GMWB — — — Derivatives with PLC — — — Other — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Total Assets $ $ — $ $ $ $ Net Amounts Gross of Liabilities Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Liabilities Position Position Instruments Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ $ — $ $ $ $ — Total derivatives, subject to a master netting arrangement or similar arrangement — — Derivatives, not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Funds withheld derivative — Embedded derivative - GMWB — — — Embedded derivative - FIA — — — Embedded derivative - IUL — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Repurchase agreements (1) — — — Total Liabilities $ $ — $ $ $ $ (1) Borrowings under repurchase agreements are for a term less than 90 days. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company). Net Amounts Gross of Assets Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Assets Position Position Instruments Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Embedded derivative - GMWB — — — Derivatives with PLC — — — Other — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Total Assets $ $ — $ $ $ $ Net Amounts Gross of Liabilities Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Liabilities Position Position Instruments Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Funds withheld derivative — — — Embedded derivative - GMWB — — — Embedded derivative - FIA — — — Embedded derivative - IUL — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Repurchase agreements (1) — — — Total Liabilities $ $ — $ $ $ $ (1) Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING SEGMENTS

OPERATING SEGMENTS	9 Months Ended
	Sep. 30, 2015
OPERATING SEGMENTS
OPERATING SEGMENTS	18. OPERATING SEGMENTS The Company has several operating segments each having a strategic focus. An operating segment is distinguished by products, channels of distribution, and/or other strategic distinctions. The Company periodically evaluates its operating segments, as prescribed in the ASC Segment Reporting Topic, and makes adjustments to its segment reporting as needed. There were no changes to the Company’s operating segments made or required to be made as a result of the Merger on February 1, 2015. A brief description of each segment follows. · The Life Marketing segment markets fixed universal life (“UL”), indexed universal life, variable universal life (“VUL”), bank-owned life insurance (“BOLI”), and level premium term insurance (“traditional”) products on a national basis primarily through networks of independent insurance agents and brokers, broker-dealers, financial institutions, and independent marketing organizations. · The Acquisitions segment focuses on acquiring, converting, and servicing policies acquired from other companies. The segment’s primary focus is on life insurance policies and annuity products that were sold to individuals. The level of the segment’s acquisition activity is predicated upon many factors, including available capital, operating capacity, potential return on capital, and market dynamics. Policies acquired through the Acquisitions segment are typically blocks of business where no new policies are being marketed. Therefore earnings and account values are expected to decline as the result of lapses, deaths, and other terminations of coverage unless new acquisitions are made. · The Annuities segment markets fixed and 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. The segment also issues funding agreements to the FHLB, and markets guaranteed investment contracts (“GICs”) to 401(k) and other qualified retirement savings plans. The Company recently terminated its funding agreement-backed notes program registered with the United States Securities and Exchange Commission (the “SEC”) and, on October 2, 2015, established an unregistered funding agreement-backed notes program. No offers, sales or issuances under this program have been made to date. · The Asset Protection segment markets extended service contracts and credit life and disability insurance to protect consumers’ investments in automobiles and recreational vehicles. In addition, the segment markets a guaranteed asset protection (“GAP”) product. GAP coverage covers the difference between the loan pay-off amount and an asset’s actual cash value in the case of a total loss. · The Corporate and Other segment primarily consists of net investment income not assigned to the segments above (including the impact of carrying liquidity) and expenses not attributable to the segments above. This segment includes earnings from several non-strategic or runoff lines of business, various investment-related transactions, the operations of several small subsidiaries, and the repurchase of non-recourse funding obligations. The Company uses the same accounting policies and procedures to measure segment operating income (loss) and assets as it uses to measure consolidated net income and assets. Segment operating income (loss) is income before income tax, excluding realized gains and losses on investments and derivatives net of the amortization related to DAC, VOBA, and benefits and settlement expenses. Operating earnings exclude changes in the GMWB embedded derivatives (excluding the portion attributed to economic cost), actual GMWB incurred claims and the related amortization of DAC/VOBA attributed to each of these items. Segment operating income (loss) represents the basis on which the performance of the Company’s business is internally assessed by management. Premiums and policy fees, other income, benefits and settlement expenses, and amortization of DAC/VOBA are attributed directly to each operating segment. Net investment income is allocated based on directly related assets required for transacting the business of that segment. Realized investment gains (losses) and other operating expenses are allocated to the segments in a manner that most appropriately reflects the operations of that segment. Investments and other assets are allocated based on statutory policy liabilities net of associated statutory policy assets, while DAC/VOBA and goodwill are shown in the segments to which they are attributable. The goodwill as of September 30, 2015 (Successor Company) was the result of the Dai-ichi Merger. The purchase price was allocated to the segments in proportion to the segment’s respective fair value. The allocated purchase price in excess of the fair value of assets and liabilities of each segment resulted in the establishment of that segment’s goodwill as of the date of the Merger. There were no significant intersegment transactions during the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the three and nine months ended September 30, 2014 (Predecessor Company). The following tables summarize financial information for the Company’s segments (Predecessor and Successor periods are not comparable): Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Life Marketing $ $ $ $ $ Acquisitions Annuities Stable Value Products Asset Protection Corporate and Other Total revenues $ $ $ $ $ Segment Operating Income (Loss) Life Marketing $ $ $ ) $ $ Acquisitions Annuities Stable Value Products Asset Protection Corporate and Other ) ) ) ) ) Total segment operating income Realized investment (losses) gains - investments (1) ) ) Realized investment (losses) gains - derivatives ) Income tax expense ) ) ) ) ) Net income $ $ $ $ $ (2) Investment gains (losses) $ ) $ ) $ $ ) $ Less: amortization related to DAC/VOBA and benefits and settlement expenses ) ) Realized investment gains (losses) - investments $ $ ) $ $ ) $ (3) Derivative gains (losses) $ $ $ $ $ ) Less: VA GMWB economic cost ) ) ) ) ) Realized investment gains (losses) - derivatives $ $ $ $ $ ) (1) Includes credit related other-than-temporary impairments of $10.1 million and $15.8 million for the three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company), respectively. Includes credit related other-than-temporary impairments of $0.5 million, $2.3 million, and $5.4 million for the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the three and nine months ended September 30, 2014 (Predecessor Company), respectively. (2) Includes realized investment gains (losses) before related amortization. (3) Includes realized gains (losses) on derivatives before the VA GMWB economic cost. Operating Segment Assets As of September 30, 2015 (Successor Company) (Dollars In Thousands) Life Stable Value Marketing Acquisitions Annuities Products Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired ) — Other intangibles Goodwill Total assets $ $ $ $ Asset Corporate Total Protection and Other Adjustments Consolidated Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired — — Other intangibles Goodwill — — Total assets $ $ $ $ Operating Segment Assets As of December 31, 2014 (Predecessor Company) (Dollars In Thousands) Life Stable Value Marketing Acquisitions Annuities Products Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired Goodwill — — — Total assets $ $ $ $ Asset Corporate Total Protection and Other Adjustments Consolidated Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired — Goodwill — — Total assets $ $ $ $

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	19. SUBSEQUENT EVENTS The Company has evaluated the effects of events subsequent to September 30, 2015 (Successor Company), and through the date we filed our consolidated condensed financial statements with the United States Securities and Exchange Commission. All accounting and disclosure requirements related to subsequent events are included in our consolidated condensed financial statements.

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Intangible assets	Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, and technology. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable.
Value of Businesses Acquired	Value of Business Acquired In conjunction with the Merger, a portion of the purchase price was allocated to the right to receive future gross profits from cash flows and earnings of the Company’s insurance policies and investment contracts as of the date of the Merger. This intangible asset, called value of business acquired (“VOBA”), is based on the actuarially estimated present value of future cash flows from the Company’s insurance policies and investment contracts in-force on the date of the Merger. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins (“EGMs”) for participating traditional life products within the MONY block. For interest sensitive products, the Company uses various amortization bases including expected gross profits (“EGPs”), revenues, or insurance in-force.
Goodwill	Goodwill Goodwill of $735.7 million was recognized in conjunction with the Merger as the excess of the purchase considerations over the fair value of PLC’s identifiable assets acquired and liabilities assumed. 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.
Property and Equipment	Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value 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 carrying amounts of the Company’s fixed assets are as follows: Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Home office building $ $ Land — Data processing equipment Other, principally furniture and equipment Total property and equipment Less: accumulated depreciation Net property and equipment $ $
Guaranteed Minimum Withdrawal Benefits	Guaranteed Minimum Withdrawal Benefits The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current implied volatilities for the equity indices. The fair value of the GMWB is impacted by equity market conditions and can result in the GMWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GMWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GMWB embedded derivative liability. The methods used to estimate the embedded derivatives employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. In conjunction with the Merger, the Company updated the fair value of the GMWB reserves to reflect current assumptions as of February 1, 2015 (Successor Company). As a result of the application of ASC Topic 805, the Company reset the hedge premium rates utilized in the valuation for all policies to be equal to the present value of future claims with the reset hedge premium rates being capped at the actual charges to the policyholder. This update resulted in a decrease in the net liability of approximately $69.4 million on the Merger date. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance Company (“Shades Creek”), a direct wholly owned subsidiary of PLC. As of September 30, 2015 (Successor Company), the net GMWB liability held, including the impact of reinsurance was approximately $14.5 million.
Policyholder Liabilities	Policyholder Liabilities Insurance Liabilities and Reserves In conjunction with the Merger and in accordance with ASC 805, insurance liabilities and reserves were recorded at fair value and the underlying contracts were considered to be new contracts, for measurement and reporting purposes as of the acquisition date. 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. As such, at the acquisition date, the Company updated the assumptions described above to reflect current best estimates and reserves were calculated in accordance with the methodology described below. VOBA was recorded to reflect the difference between the fair value of the contractual insurance liability and the reserve established. 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. These values were computed using assumptions that include interest rates, mortality, lapse rates, expenses 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. The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. 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. 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. 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 will be 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 15, Fair Value of Financial Instruments . Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned. The Company currently markets a deferred fixed annuity with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB’s ASC Topic 815— Derivatives and Hedging . The Company did not elect to value these FIA products at fair value prior to the Merger date. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944— Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company markets universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815— Derivatives and Hedging . The Company did not elect to value these IUL products at fair value prior to the Merger date. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments . For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 15, Fair Value of Financial Instruments . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944— Financial Services—Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period. The Company’s accounting policies with respect to variable universal life (“VUL”) and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts. The Company establishes liabilities for guaranteed minimum death benefits (“GMDB”) on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience. Future declines in the equity market would increase the Company’s GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. Our GMDB, as of September 30, 2015 (Successor Company), are subject to a dollar-for-dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. The Company reinsures certain risks associated with the GMDB to Shades Creek. As of September 30, 2015 (Successor Company), the GMDB reserve, including the impact of reinsurance was $29.2 million. Property and Casualty Insurance Products Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP”). Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported (“IBNR”) reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends.
Reinsurance	Reinsurance The Company uses reinsurance extensively in certain of its segments and accounts for reinsurance and the recognition of the impact of reinsurance costs in accordance with the ASC Financial Services — Insurance Topic. The following summarizes some of the key aspects of the Company’s accounting policies for reinsurance. Reinsurance Assets and Liabilities —Claim liabilities and policy benefits are calculated consistently for all policies, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. The reinsurance receivables were recorded in the balance sheet using current accounting policies and the most current assumptions as of the merger date. As of the merger date, the Company also calculated the ceded VOBA associated with the reinsured policies. The reinsurance receivables combined with the associated ceded VOBA represent the fair value of the reinsurance assets. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed by the Company’s actuarial staff to ensure that appropriate amounts are ceded. The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit.
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted Accounting Standards Update (“ASU”) No. 2014-08—Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity. This Update changes the requirements for reporting discontinued operations and related disclosures. The Update limits the definition of a discontinued operation to disposals that represent “strategic shifts” that will have a major effect on an entity’s operation and financial results. Additionally, the Update requires enhanced disclosures about the components of discontinued operations and the financial effects of the disposal. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Company has reviewed the additional disclosures required by the Update, and will apply the revised guidance to any disposals occurring after the effective date. ASU No. 2014-11—Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. This Update changes the requirements for classification of certain repurchase agreements, and will expand the use of secured borrowing accounting for repurchase-to-maturity transactions. In addition, the Update requires additional disclosures for repurchase agreements accounted for both as sales and as secured borrowings. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Update did not impact the Company’s financial position or results of operations. The Company has updated its policies and processes to ensure compliance with the additional disclosure requirements in this Update. ASU No. 2014-17—Business Combinations (Topic 805). This Update relates to “pushdown accounting”, which refers to pushing down the acquirer’s accounting and reporting basis (which is recognized in conjunction with its accounting for a business combination) to the acquiree’s standalone financial statements. The new guidance makes pushdown accounting optional for an acquiree that is a business or nonprofit activity when there is a change-in- control event (e.g., the acquirer in a business combination obtains control over the acquiree). In addition, the staff of the SEC released Staff Accounting Bulletin (“SAB”) No. 115, which rescinds SAB Topic 5J, “New Basis of Accounting Required in Certain Circumstances” (the SEC staff’s pre-existing guidance on pushdown accounting) and conforms SEC guidance on pushdown accounting to the FASB’s new guidance. Revised SEC guidance was codified in ASU No. 2015-08, issued in May 2015. The new pushdown accounting guidance became effective upon its issuance on November 18, 2014. Although now optional, the Company has applied pushdown accounting to its standalone financial statements effective with the Company becoming a wholly owned subsidiary of Dai-ichi Life on February 1, 2015. The presentation within this report for predecessor and successor periods is consistent with this Update.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted ASU No. 2014-09—Revenue from Contracts with Customers (Topic 606). This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update was originally effective for annual and interim periods beginning after December 15, 2016. However, in August 2015, the FASB issued ASU No. 2015-14 — Revenues from Contracts with Customers: Deferral of the Effective Date , to defer the effective date of ASU No. 2014-09 by one year to annual and interim periods beginning after December 15, 2017. Early adoption will be allowed, but not before the original effective date. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption. The Company is currently assessing the impact this standard will have on its non-insurance operations. ASU No. 2014-15—Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This Update will require management to assess an entity’s ability to continue as a going concern, and will require footnote disclosures in certain circumstances. Under the updated guidance, management should consider relevant conditions and evaluate whether it is probable that the entity will be unable to meet its obligations within one year after the issuance date of the financial statements. The Update is effective for annual periods ending December 31, 2016 and for annual and interim periods thereafter, with early adoption permitted. The amendments in this Update will not impact the Company’s financial position or results of operations. However, the new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance. The Company is reviewing its policies and processes to ensure compliance with the new guidance. ASU No. 2015-02—Consolidation—Amendments to the Consolidation Analysis. This Update makes several targeted changes to generally accepted accounting principles, including a) eliminating the presumption that a general partner should consolidate a limited partnership and b) eliminating the consolidation model specific to limited partnerships. The amendments also clarify when fees and related party relationships should be considered in the consolidation of variable interest entities. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2015. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption. ASU No. 2015-03—Interest—Imputation of Interest . The objective of this Update is to eliminate diversity in practice related to the presentation of debt issuance costs. The amendments in this Update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this Update. The Update is effective for fiscal years beginning after December 15, 2015, and requires revised presentation of debt issuance costs in all periods presented in the financial statements. The Company is prepared to comply with the revised guidance. ASU No. 2015-05 — Intangibles — Goodwill and Other — Internal-Use Software. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The Update is effective for annual and interim periods beginning after December 15, 2015. The Company is prepared to comply with the revised guidance and does not believe it will materially impact the presentation of the Company’s financial position. ASU No. 2015-09 — Financial Services—Insurance (Topic 944): Disclosures about Short-Duration Contracts. The amendments in this Update require additional disclosures for short-duration contracts issued by insurance entities. The additional disclosures focus on the liability for unpaid claims and claim adjustment expenses and include incurred and paid claims development information by accident year in tabular form, along with a reconciliation of this information to the statement of financial position. For accident years included in the development tables, the amendments also require disclosure of the total incurred-but-not-reported liabilities and expected development on reported claims, along with claims frequency information unless impracticable. Finally, the amendments require disclosure of the historical average annual percentage payout of incurred claims. With the exception of the current reporting period, claims development information may be presented as supplementary information. The Update is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. The Company is reviewing its products to determine the applicability and potential impact of the new disclosures. ASU No. 2015-12 - Plan Accounting - (Topics 960, 962 and 965). This Update is a three-part standard that provides guidance on certain aspects of the accounting related to employee benefit plans. Part I requires an employee benefit plan to use contract value as the only measurement amount for fully-benefit responsive investment contracts. Part II simplifies and increases the effectiveness of plan investment disclosure requirements for employee benefit plans by eliminating certain disclosures related to individual investments over 5 percent and by eliminating the need to disaggregate investments in multiple ways. Part III provides a measurement-date practical expedient for plan investments when the fiscal year-end of a plan does not coincide with a month-end. The guidance is effective for fiscal years beginning after December 15, 2015 for all three parts and early adoption is permitted. For parts I and II, amendments should be applied retrospectively to all financial statements presented, while part III should be applied prospectively. The Company is reviewing its policies and procedures to ensure compliance with the revised guidance. ASU No. 2015-15 — Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The objective of this Update is to clarify the SEC Staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on the topic in ASU No. 2015-03. This Update reflects the SEC Staff’s decision to not object when an entity defers and presents debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. The Company is prepared to comply with the revised guidance. ASU No. 2015-16 - Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments. This Update provides that an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period following a business combination in the reporting period in which the adjustment amounts are determined. This Update is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in the Update are to be applied prospectively for adjustments that occur after the effective date, with early adoption permitted for financial statements that have not been issued. The Company is prepared to comply with the revised guidance.

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of property and equipment	Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Home office building $ $ Land — Data processing equipment Other, principally furniture and equipment Total property and equipment Less: accumulated depreciation Net property and equipment $ $

DAI-ICHI MERGER (Tables)

DAI-ICHI MERGER (Tables)	9 Months Ended
	Sep. 30, 2015
DAI-ICHI MERGER
Summary of fair values of the net assets acquired	Fair Value As of February 1, 2015 (Dollars In Thousands) Assets Fixed maturities $ Equity securities Mortgage loans Investment real estate Policy loans Other long-term investments Short-term investments Total investments Cash Accrued investment income Accounts and premiums receivable Reinsurance receivables Value of business acquired Goodwill Other intangibles Property and equipment Other assets Income tax receivable Assets related to separate accounts Variable annuity Variable universal life Total assets $ Liabilities Future policy and benefit claims $ Unearned premiums Total policy liabilities and accruals Stable value product account balances Annuity account balances Other policyholders’ funds Other liabilities Deferred income taxes Non-recourse funding obligations Repurchase program borrowings Liabilities related to separate accounts Variable annuity Variable universal life Total liabilities Net assets acquired $
Schedule of intangible assets recognized	Estimated Fair Value on Estimated Acquisition Date Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 14-22 Trade names 13-17 Technology 7-14 Total intangible assets subject to amortization Insurance licenses Indefinite Total intangible assets $
Schedule of future estimated aggregate amortization expense	Year Amount (Dollars In Thousands) 2015 $ 2016 2017 2018 2019

MONY CLOSED BLOCK OF BUSINESS (

MONY CLOSED BLOCK OF BUSINESS (Tables)	9 Months Ended
	Sep. 30, 2015
MONY CLOSED BLOCK OF BUSINESS
Summary of financial information for the Closed Block	Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders’ account balances and other policyholder liabilities $ $ Policyholder dividend obligation Other liabilities Total closed block liabilities Closed block assets Fixed maturities, available-for-sale, at fair value $ $ Equity securities, available-for-sale, at fair value — Mortgage loans on real estate Policy loans Cash and other invested assets Other assets Total closed block assets Excess of reported closed block liabilities over closed block assets Portion of above representing accumulated other comprehensive income: Net unrealized investment gains (losses) net of policyholder dividend obligation of $(154,143) (Successor) and $106,886 (Predecessor) — — Future earnings to be recognized from closed block assets and closed block liabilities $ $
Schedule of reconciliation of the policyholder dividend obligation	Successor Predecessor Company Company February 1, 2015 January 1, 2015 For The Nine to to Months Ended September 30, 2015 January 31, 2015 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Policyholder dividend obligation, beginning of period $ $ $ Applicable to net revenue (losses) ) ) ) Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $(83,000) (Successor); $47,277 (2015 - Predecessor); $38,448 (2014 - Predecessor) ) Policyholder dividend obligation, end of period $ $ $
Schedule of Closed Block revenues and expenses	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Premiums and other income $ $ $ $ $ Net investment income (loss) Net investment gains (losses) Total revenues Benefits and other deductions Benefits and settlement expenses Other operating expenses — Total benefits and other deductions Net revenues before income taxes Income tax expense Net revenues $ $ $ $ $

INVESTMENT OPERATIONS (Tables)

INVESTMENT OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2015
INVESTMENT OPERATIONS
Summary of net realized investment gains (losses) for all other investments	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ ) $ $ $ $ Equity securities — — — Impairments on fixed maturity securities ) ) ) ) ) Impairments on equity securities — — — — — Modco trading portfolio ) ) Other investments ) ) ) ) Total realized gains (losses) - investments $ ) $ ) $ $ ) $
Schedule of amortized cost and fair value of the Company's investments classified as available-for-sale	Gross Gross Total OTTI Successor Company Amortized Unrealized Unrealized Fair Recognized As of September 30, 2015 Cost Gains Losses Value in OCI (1) (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ $ $ ) $ $ — Commercial mortgage-backed securities ) — Other asset-backed securities ) — U.S. government-related securities ) — Other government-related securities — ) — States, municipals, and political subdivisions ) Corporate securities ) ) Preferred stock — ) — ) ) Equity securities ) — Short-term investments — — — $ $ $ ) $ $ ) Predecessor Company As of December 31, 2014 Fixed maturities: Residential mortgage-backed securities $ $ $ ) $ $ Commercial mortgage-backed securities ) — Other asset-backed securities ) ) U.S. government-related securities ) — Other government-related securities — — States, municipals, and political subdivisions ) — Corporate securities ) — ) Equity securities ) — Short-term investments — — — $ $ $ ) $ $ (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
Schedule of amortized cost and fair value of the Company's investments classified as held-to-maturity	Gross Gross Total OTTI Successor Company Amortized Unrealized Unrealized Fair Recognized As of September 30, 2015 Cost Gains Losses Value in OCI (Dollars In Thousands) Fixed maturities: Other $ $ — $ ) $ $ — $ $ — $ ) $ $ — Predecessor Company As of December 31, 2014 Fixed maturities: Other $ $ $ — $ $ — $ $ $ — $ $ —
Schedule of amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities, by expected maturity	Successor Company Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ $ $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years $ $ $ $
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	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ $ — $ $ $ Additions for newly impaired securities — — — — Additions for previously impaired securities Reductions for previously impaired securities due to a change in expected cash flows — — — ) ) Reductions for previously impaired securities that were sold in the current period ) ) — — — Ending balance $ $ $ $ $
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 September 30, 2015 (Successor Company): Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (Dollars In Thousands) Residential mortgage-backed securities $ $ ) $ — $ — $ $ ) Commercial mortgage-backed securities ) — — ) Other asset-backed securities ) — — ) U.S. government-related securities ) — — ) Other government-related securities ) — — ) States, municipalities, and political subdivisions ) — — ) Corporate securities ) — — ) Preferred stock ) — — ) Equities ) — — ) $ $ ) $ — $ — $ $ ) The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014 (Predecessor Company): Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (Dollars In Thousands) Residential mortgage-backed securities $ $ ) $ $ ) $ $ ) Commercial mortgage-backed securities ) ) ) Other asset-backed securities ) ) ) U.S. government-related securities ) ) ) Other government-related securities — — — — — — States, municipalities, and political subdivisions ) ) ) Corporate securities ) ) ) Equities ) ) ) $ $ ) $ $ ) $ $ )
Summary of change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Fixed maturities $ ) $ ) $ $ ) $ Equity securities ) )

MORTGAGE LOANS (Tables)

MORTGAGE LOANS (Tables)	9 Months Ended
	Sep. 30, 2015
MORTGAGE LOANS
Schedule of changes in the allowance for mortgage loan credit losses	Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Beginning balance $ — $ $ Charge offs ) ) ) Recoveries ) ) ) Provision — Ending balance $ $ $
Schedule of an analysis of the delinquent loans	An analysis of the delinquent loans is shown in the following chart . Greater Successor Company 30-59 Days 60-89 Days than 90 Days Total As of September 30, 2015 Delinquent Delinquent Delinquent Delinquent (Dollars In Thousands) Commercial mortgage loans $ $ $ $ Number of delinquent commercial mortgage loans Predecessor Company As of December 31, 2014 Commercial mortgage loans $ $ — $ $ Number of delinquent commercial mortgage loans —
Schedule of information regarding impaired loans	Unpaid Average Interest Cash Basis Successor Company Recorded Principal Related Recorded Income Interest As of September 30, 2015 Investment Balance Allowance Investment Recognized Income (Dollars In Thousands) Commercial mortgage loans: With no related allowance recorded $ $ $ — $ $ $ With an allowance recorded — Predecessor Company As of December 31, 2014 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded
Schedule of mortgage loans that were modified in a troubled debt restructuring	Pre-Modification Post-Modification Outstanding Outstanding Predecessor Company Number of Recorded Recorded As of December 31, 2014 Contracts Investment Investment (Dollars In Thousands) Troubled debt restructuring: Commercial mortgage loans $ $

DEFERRED POLICY ACQUISITION C35

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)	9 Months Ended
	Sep. 30, 2015
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED.
Schedule of balances and changes in DAC	Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ — $ $ Capitalization of commissions, sales, and issue expenses Amortization ) ) Change in unrealized investment gains and losses ) ) Balance, end of period $ $ $
Schedule of balances and changes in VOBA	The balances and changes in VOBA are as follows: Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ $ $ Amortization ) ) ) Change in unrealized gains and losses ) ) Other ) — — Balance, end of period $ $ $
Schedule of expected amortization of VOBA for the next five years	Expected Years Amortization (Dollars In Thousands) 2015 $ 2016 2017 2018 2019

DEBT AND OTHER OBLIGATIONS (Tab

DEBT AND OTHER OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2015
DEBT AND OTHER OBLIGATIONS
Non-recourse funding obligations outstanding	Year-to-Date Maturity Weighted-Avg Issuer Carrying Value (1) Year Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2) $ 2037 % Golden Gate II Captive Insurance Company 2052 % Golden Gate V Vermont Captive Insurance Company (2) 2037 % MONY Life Insurance Company (2) 2024 % Total $ (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Fixed rate obligations
Schedule of collateral pledged for repurchase agreements	Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of September 30, 2015 (Successor Company) (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30-90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ $ $ $ — $ State and municipal securities — — — — — Other asset-backed securities — — — — — Corporate securities — — — — — Equity securities — — — — — Non-U.S. sovereign debt — — — — — Mortgage loans — — — Other asset-backed securities — — — — — Total borrowings $ $ $ $ — $

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2015
EMPLOYEE BENEFIT PLANS
Components of the net periodic benefit cost of the Company's defined benefit pension plan and unfunded excess benefit plan	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 Defined Unfunded Defined Unfunded Defined Unfunded Defined Unfunded Defined Unfunded Benefit Excess Benefit Excess Benefit Excess Benefit Excess Benefit Excess Pension Benefit Pension Benefit Pension Benefit Pension Benefit Pension Benefit Plan Plan Plan Plan Plan Plan Plan Plan Plan Plan (Dollars In Thousands) (Dollars In Thousands) Service cost — benefits earned during the period $ $ $ $ $ $ $ $ $ $ Interest cost on projected benefit obligation Expected return on plan assets ) — ) — ) — ) — ) — Amortization of prior service cost — — — — ) ) ) Amortization of actuarial losses — — — — Total net periodic benefit costs $ $ $ $ $ $ $ $ $ $
Predecessor
EMPLOYEE BENEFIT PLANS
Schedule of benefit obligation, fair value of plan assets and the funded status of the Company's defined benefit pension plan and unfunded excess benefit plan	Predecessor Company Defined Benefit Unfunded Excess Pension Plan Benefits Plan As of As of As of As of January 31, 2015 December 31, 2014 January 31, 2015 December 31, 2014 (Dollars In Thousands) Accumulated benefit obligation, end of period $ $ $ $ Change in projected benefit obligation: Projected benefit obligation at beginning of period $ $ $ $ Service cost Interest cost Amendments — — — — Actuarial (gain) or loss Benefits paid ) ) ) ) Projected benefit obligation at end of period Change in plan assets: Fair value of plan assets at beginning of period — — Actual return on plan assets ) — — Employer contributions (1) Benefits paid ) ) ) ) Fair value of plan assets at end of period — — After reflecting FASB guidance Funded status ) ) ) ) Amounts recognized in the balance sheet: Other liabilities ) ) ) ) Amounts recognized in accumulated other comprehensive income: Net actuarial loss Prior service cost/(credit) ) ) Total amounts recognized in AOCI $ $ $ $ (1) Employer contributions disclosed are based on the Company’s fiscal filing year.
Schedule of weighted-average assumptions used to determine benefit obligations	Defined Benefit Unfunded Excess Postretirement Pension Plan Benefit Plan Life Insurance Plan Discount rate % % %

ACCUMULATED OTHER COMPREHENSI38

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Summary of changes in the accumulated balances for each component of AOCI	Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Successor Company Beginning Balance, February 1, 2015 $ — $ — $ — Other comprehensive income (loss) before reclassifications ) ) ) Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings ) — ) Amounts reclassified from accumulated other comprehensive income (loss) (1) Net current-period other comprehensive income (loss) ) — ) Ending Balance, September 30, 2015 $ ) $ — $ ) (1) See Reclassification table below for details. (2) As of September 30, 2015 net unrealized losses reported in AOCI were offset by $506.9 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Predecessor Company Beginning Balance, December 31, 2014 $ $ ) $ Other comprehensive income (loss) before reclassifications Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings ) — ) Amounts reclassified from accumulated other comprehensive income (loss) (1) ) ) Net current-period other comprehensive income (loss) Ending Balance, January 31, 2015 $ $ ) $ (1) See Reclassification table below for details. (2) As of January 31, 2015 and December 31, 2014 net unrealized losses reported in AOCI were offset by $(492.6) million and $(504.4) million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. Changes in Accumulated Other Comprehensive Income (Loss) by Component Total Accumulated Unrealized Accumulated Other Gains and Losses Gain and Loss Comprehensive on Investments (2) Derivatives Income (Loss) (Dollars In Thousands, Net of Tax) Predecessor Company Beginning Balance, December 31, 2013 $ $ ) $ Other comprehensive income (loss) before reclassifications ) Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings — Amounts reclassified from accumulated other comprehensive income (loss) (1) ) ) Net current-period other comprehensive income (loss) Ending Balance, December 31, 2014 $ $ ) $ (1) See Reclassification table below for details. (2) As of December 31, 2014 and 2013 net unrealized losses reported in AOCI were offset by $(504.4) million and $(189.8) million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Schedule of reclassifications amounts out of AOCI	Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Successor Company For The Three Months Ended September 30, 2015 Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ ) Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings ) Total before tax Tax (expense) or benefit $ ) Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Successor Company February 1, 2015 to September 30, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings ) Total before tax Tax (expense) or benefit $ ) Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company January 1, 2015 to January 31, 2015 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company For The Three Months Ended September 30, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amount Reclassified from Accumulated Other Comprehensive Affected Line Item in the Income (Loss) Consolidated Condensed Statements of Income (Dollars In Thousands) Predecessor Company For The Nine Months Ended September 30, 2014 Gains and losses on derivative instruments Net settlement (expense)/benefit (1) $ ) Benefits and settlement expenses, net of reinsurance ceded ) Total before tax Tax (expense) or benefit $ ) Net of tax Unrealized gains and losses on available-for-sale securities Net investment gains (losses) $ Realized investment gains (losses): All other investments Impairments recognized in earnings ) Net impairment losses recognized in earnings Total before tax ) Tax (expense) or benefit $ Net of tax (1) See Note 16, Derivative Financial Instruments for additional information.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2015
INCOME TAXES
Schedule of components of the Company's net deferred income tax liability	Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ $ Premium receivables and policy liabilities — Deferred compensation Invested assets (other than unrealized gains) — Deferred policy acquisition costs — Net unrealized loss on investments — Valuation allowance ) ) Deferred income tax liabilities: VOBA and other intangibles — Premium receivables and policy liabilities — DAC and VOBA — Invested assets (other than unrealized gains) — Net unrealized gains on investments — Other Net deferred income tax liability $ ) $ )
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	Successor Predecessor Company Company February 1, 2015 January 1, 2015 to to As of September 30, 2015 January 31, 2015 December 31, 2014 (Dollars In Thousands) (Dollars In Thousands) Balance, beginning of period $ $ $ Additions for tax positions of the current year ) Additions for tax positions of prior years Reductions of tax positions of prior years: Changes in judgment ) ) ) Settlements during the period ) — — Lapses of applicable statute of limitations — — — Balance, end of period $ $ $

FAIR VALUE OF FINANCIAL INSTR40

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
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 September 30, 2015 (Successor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ $ $ Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities Preferred stock — — Total fixed maturity securities - available-for-sale Fixed maturity securities - trading Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities — Preferred stock — — Total fixed maturity securities - trading Total fixed maturity securities Equity securities Other long-term investments (1) Short-term investments — Total investments Cash — — Assets related to separate accounts Variable annuity — — Variable universal life — — Total assets measured at fair value on a recurring basis $ $ $ $ Liabilities: Annuity account balances (2) $ — $ — $ $ Other liabilities (1) Total liabilities measured at fair value on a recurring basis $ $ $ $ (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 (Predecessor Company): Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities - available-for-sale Residential mortgage-backed securities $ — $ $ $ Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — Other government-related securities — — Corporate securities Total fixed maturity securities - available-for-sale Fixed maturity securities - trading Residential mortgage-backed securities — — Commercial mortgage-backed securities — — Other asset-backed securities — U.S. government-related securities — State, municipalities, and political subdivisions — — Other government-related securities — — Corporate securities — Total fixed maturity securities - trading Total fixed maturity securities Equity securities Other long-term investments (1) Short-term investments — Total investments Cash — — Other assets — — — — Assets related to separate accounts Variable annuity — — Variable universal life — — Total assets measured at fair value on a recurring basis $ $ $ $ Liabilities: Annuity account balances (2) $ — $ — $ $ Other liabilities (1) Total liabilities measured at fair value on a recurring basis $ $ $ $ (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments	Successor Company Fair Value As of Valuation Unobservable Range September 30, 2015 Technique Input (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ Discounted cash flow Liquidity premium 0.43% - 1.49% (0.70%) Paydown rate 9.85% - 15.41% (13.17%) Corporate securities Discounted cash flow Spread over treasury 0.74% - 12.18% (2.45%) Liabilities: Embedded derivatives - GMWB (1) $ Actuarial cash flow model Mortality 1994 MGDB table with company experience Lapse 0.3% - 15%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.17% Annuity account balances (2) Actuarial cash flow model Asset earned rate 4.53% - 5.67% Expenses $81 per policy Withdrawal rate 2.20% Mortality 1994 MGDB table with company experience Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.21% - 1.17% Embedded derivative - FIA Actuarial cash flow model Expenses $81.5 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 1994 MGDB table with company experience Lapse 2.5% - 40.0%, depending on on duration/surrender charge period Nonperformance risk 0.21% - 1.17% Embedded derivative - IUL Actuarial cash flow model Mortality 38% - 153% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.17% (1) The fair value for the GMWB embedded derivative is presented as a net liability for the purposes of this chart. Excludes modified coinsurance arrangements. (2) Represents liabilities related to fixed indexed annuities. Predecessor Company Fair Value As of Valuation Unobservable Range December 31, 2014 Technique Input (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ Discounted cash flow Liquidity premium 0.39% - 1.49% (0.69%) Paydown rate 9.70% - 15.80% (12.08%) Corporate securities Discounted cash flow Spread over 0.33% - 7.50% (2.19%) treasury Liabilities: Embedded derivatives - GMWB (1) $ Actuarial cash flow model Mortality 44.5% to 100% of 1994 MGDB table Lapse 0.25% - 17%, depending on product/duration/funded status of guarantee Utilization 97% - 101% Nonperformance risk 0.12% - 0.96% Annuity account balances (2) Actuarial cash flow model Asset earned rate 3.86% - 5.92% Expenses $88 - $102 per policy Withdrawal rate 2.20% Mortality 49% to 80% of 1994 MGDB table Lapse 2.2% - 33.0%, depending on duration/surrender charge period Return on assets 1.50% - 1.85% depending on surrender charge period Nonperformance risk 0.12% - 0.96% Embedded derivative - FIA Actuarial cash flow model Expenses $83 - $97 per policy Withdrawal rate 1.1% - 4.5% depending on duration and tax qualification Mortality 49% to 80% of 1994 MGDB table Lapse 2.5% - 40.0%, depending on duration/surrender charge period Nonperformance risk 0.12% - 0.96% Embedded derivative - IUL Actuarial cash flow model Mortality 37% - 74% of 2008 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.12% - 0.96% (1) The fair value for the GMWB embedded derivative is presented as a net liability, for the purposes of this chart. Excludes modified coinsurance arrangements. (2) Represents liabilities related to fixed indexed annuities.
Schedule of reconciliation of the beginning and ending balances for fair value measurements, for which the Company has used significant unobservable inputs (Level 3)	The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the three months ended September 30, 2015 (Successor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) Total Total included in Realized and Unrealized Realized and Unrealized Earnings Gains Losses related to Included in Included in Instruments Other Other Transfers still held at Beginning Included in Comprehensive Included in Comprehensive in/out of Ending the Reporting Balance Earnings Income Earnings Income Purchases Sales Issuances Settlements Level 3 Other Balance Date (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — — — ) — — — — — ) — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities ) ) ) — — ) ) — Total fixed maturity securities - available-for-sale ) ) ) — — ) ) — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) — ) — — — ) U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) — — ) — — — ) ) Total fixed maturity securities - trading — ) — ) — — — ) Total fixed maturity securities ) ) ) — — ) ) ) Equity securities — — — — — — — — — — Other long-term investments (1) — — ) — — — — — — — ) Short-term investments — — — — — — — — — — — — — Total investments ) ) ) — — ) ) ) Total assets measured at fair value on a recurring basis $ $ $ $ ) $ ) $ $ ) $ — $ — $ ) $ ) $ $ ) Liabilities: Annuity account balances (2) $ $ — $ ) $ — $ — $ — $ — $ $ — $ — $ $ — Other liabilities (1) — ) — — — — — — — ) Total liabilities measured at fair value on a recurring basis $ $ $ ) $ ) $ — $ — $ — $ $ $ — $ — $ $ ) (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the period of February 1, 2015 to September 30, 2015 (Successor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) Total Total included in Realized and Unrealized Realized and Unrealized Earnings Gains Losses related to Included in Included in Instruments Other Other Transfers still held at Beginning Included in Comprehensive Included in Comprehensive in/out of Ending the Reporting Balance Earnings Income Earnings Income Purchases Sales Issuances Settlements Level 3 Other Balance Date (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) ) — ) — — — ) — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — ) — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities ) ) ) — — ) ) — Total fixed maturity securities - available-for-sale ) ) ) — — ) ) — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) — ) — — — ) U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) — — ) — — — ) ) Total fixed maturity securities - trading — ) — ) — — — ) Total fixed maturity securities ) ) ) — — ) ) ) Equity securities — — — — ) — — — — — Other long-term investments (1) — ) — — — — — — — ) Short-term investments — — — — — — — — — — — — — Total investments ) ) ) — — ) ) ) Total assets measured at fair value on a recurring basis $ $ $ $ ) $ ) $ $ ) $ — $ — $ ) $ ) $ $ ) Liabilities: Annuity account balances (2) $ $ — $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ — Other liabilities (1) — ) — — — — — — — Total liabilities measured at fair value on a recurring basis $ $ $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ (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 period of January 1, 2015 to January 31, 2015 (Predecessor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) Total Total included in Realized and Unrealized Realized and Unrealized Earnings Gains Losses related to Included in Included in Instruments Other Other Transfers still held at Beginning Included in Comprehensive Included in Comprehensive in/out of Ending the Reporting Balance Earnings Income Earnings Income Purchases Sales Issuances Settlements Level 3 Other Balance Date (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — — — ) — ) — — — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — — ) — ) — — — ) — Total fixed maturity securities - available-for-sale — — ) — ) — — ) — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) — — ) — — — U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) — — ) — — — — Total fixed maturity securities - trading — ) — — ) — — — Total fixed maturity securities ) ) — ) — — ) Equity securities — — — — — — — — — — — Other long-term investments (1) — ) — — — — — — — Short-term investments — — — — — — — — — — — — — Total investments ) ) — ) — — ) Total assets measured at fair value on a recurring basis $ $ $ $ ) $ ) $ — $ ) $ — $ — $ $ ) $ $ Liabilities: Annuity account balances (2) $ $ — $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ — Other liabilities (1) — ) — — — — — — — ) Total liabilities measured at fair value on a recurring basis $ $ $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ ) (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 three months ended September 30, 2014 (Predecessor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) Total Total included in Realized and Unrealized Realized and Unrealized Earnings Gains Losses related to Included in Included in Instruments Other Other Transfers still held at Beginning Included in Comprehensive Included in Comprehensive in/out of Ending the Reporting Balance Earnings Income Earnings Income Purchases Sales Issuances Settlements Level 3 Other Balance Date (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ $ — $ — $ — $ ) $ — $ ) $ — $ — $ — $ $ $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) ) — ) — — — ) — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) ) — — ) ) — Total fixed maturity securities - available-for-sale ) ) ) — — ) ) — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — ) — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) — — ) — — — U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) — — ) — — ) Total fixed maturity securities - trading — ) — — ) — — ) Total fixed maturity securities ) ) ) — — ) ) Equity securities — — — ) — ) — — ) — — Other long-term investments (1) — ) — — — — — — — ) Short-term investments — — — — — — — — — — — — — Total investments ) ) ) — — ) ) ) Total assets measured at fair value on a recurring basis $ $ $ $ ) $ ) $ $ ) $ — $ — $ ) $ ) $ $ ) Liabilities: Annuity account balances (2) $ $ $ — $ — $ — $ — $ — $ $ $ — $ — $ $ — Other liabilities (1) — ) — — — — — — — ) Total liabilities measured at fair value on a recurring basis $ $ $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ ) (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 nine months ended September 30, 2014 (Predecessor Company), for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) Total Total included in Realized and Unrealized Realized and Unrealized Earnings Gains Losses related to Included in Included in Instruments Other Other Transfers still held at Beginning Included in Comprehensive Included in Comprehensive in/out of Ending the Reporting Balance Earnings Income Earnings Income Purchases Sales Issuances Settlements Level 3 Other Balance Date (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ $ — $ — $ — $ ) $ — $ ) $ — $ — $ — $ $ $ — Commercial mortgage-backed securities — — — — — — — — — — — — Other asset-backed securities — ) ) — ) — — — ) — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) ) — — ) ) — Total fixed maturity securities - available-for-sale ) ) ) — — ) ) — Fixed maturity securities - trading Residential mortgage-backed securities — — — — — — — ) — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities — ) — — ) — — — U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities — ) — ) — — ) Total fixed maturity securities - trading — ) — ) — — ) Total fixed maturity securities ) ) ) — — ) ) Equity securities — — ) ) — — ) — — Other long-term investments (1) — ) — — — — — — — ) Short-term investments — — — — — — — — — — — — — Total investments ) ) ) — — ) ) ) Total assets measured at fair value on a recurring basis $ $ $ $ ) $ ) $ $ ) $ — $ — $ ) $ ) $ $ ) Liabilities: Annuity account balances (2) $ $ — $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ — Other liabilities (1) — ) — — — — — — — ) Total liabilities measured at fair value on a recurring basis $ $ $ — $ ) $ — $ — $ — $ $ $ — $ — $ $ )
Schedule of the carrying amounts and estimated fair value of the Company's financial instruments	Successor Predecessor Company Company As of As of September 30, 2015 December 31, 2014 Fair Value Carrying Carrying Level Amounts Fair Values Amounts Fair Values (Dollars In Thousands) (Dollars In Thousands) Assets: Mortgage loans on real estate 3 $ $ $ $ Policy loans 3 Fixed maturities, held-to-maturity (1) 3 Liabilities: Stable value product account balances 3 $ $ $ $ Annuity account balances 3 Debt: Non-recourse funding obligations (2) 3 $ $ $ $ Except as noted below, fair values were estimated using quoted market prices. (1) Security purchased from unconsolidated subsidiary, Red Mountain LLC. (2) Of this carrying amount, $485.0 million, fair value of $496.7 million, as of September 30, 2015 (Successor Company), and $435.0 million, fair value of $461.4 million, as of December 31, 2014 (Predecessor Company), relates to non-recourse funding obligations issued by Golden Gate V.

DERIVATIVE FINANCIAL INSTRUME41

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of realized investment gains (losses)	Successor Predecessor Company Company For The Three February 1, 2015 For The Three For The Nine Months Ended to January 1, 2015 Months Ended Months Ended September 30, September 30, to September 30, September 30, 2015 2015 January 31, 2015 2014 2014 (Dollars In Thousands) (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures - VA $ $ ) $ $ $ Equity futures - VA ) Currency futures - VA Variance swaps - VA — — — ) Equity options - VA ) Interest rate swaptions - VA ) ) ) ) Interest rate swaps - VA ) Embedded derivative - GMWB ) ) ) ) Funds withheld derivative ) ) ) ) Total derivatives related to VA contracts ) Derivatives related to FIA contracts: Embedded derivative - FIA ) ) Equity futures - FIA ) Volatility futures - FIA ) — ) Equity options - FIA ) ) ) Total derivatives related to FIA contracts ) ) ) ) Derivatives related to IUL contracts: Embedded derivative - IUL ) Equity futures - IUL Equity options - IUL ) ) ) ) ) Total derivatives related to IUL contracts ) Embedded derivative - Modco reinsurance treaties ) ) ) Derivatives with PLC (1) ) ) Other derivatives ) ) ) ) Total realized gains (losses) - derivatives $ $ $ $ $ ) (1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
Schedule of realized investments gains and losses for Modco trading portfolio that is included in realized investment gains (losses) - all other investments	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Modco trading portfolio (1) $ $ ) $ $ ) $ (1) The Company elected to include the use of alternate disclosures for trading activities.
Schedule of components of the gains or losses on derivatives that qualify as a cash flow hedging relationship	Gain (Loss) on Derivatives in Cash Flow Hedging Relationship Amount and Location of Amount of Gains (Losses) Gains (Losses) Deferred in Reclassified from Amount and Location of Accumulated Other Accumulated Other (Losses) Recognized in Comprehensive Income Comprehensive Income Income (Loss) on (Loss) on Derivatives (Loss) into Income (Loss) Derivatives (Effective Portion) (Effective Portion) (Ineffective Portion) Benefits and settlement Realized investment expenses gains (losses) (Dollars In Thousands) Successor Company For The Three Months Ended September 30, 2015 Inflation $ — $ — $ — Total $ — $ — $ — Successor Company February 1, 2015 to September 30, 2015 Inflation $ ) $ ) $ Total $ ) $ ) $ Predecessor Company January 1, 2015 to January 31, 2015 Inflation $ $ ) $ ) Total $ $ ) $ ) Predecessor Company For The Three Months Ended September 30, 2014 Inflation $ ) $ ) $ ) Total $ ) $ ) $ ) Predecessor Company For The Nine Months Ended September 30, 2014 Inflation $ ) $ ) $ ) Total $ ) $ ) $ )
Schedule of 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	Successor Predecessor Company Company As of September 30, 2015 As of December 31, 2014 Notional Fair Notional Fair Amount Value Amount Value (Dollars In Thousands) (Dollars In Thousands) Other long-term investments Derivatives not designated as hedging instruments: Interest rate swaps $ $ $ $ Derivatives with PLC (1) Embedded derivative - Modco reinsurance treaties Embedded derivative — GMWB Interest rate futures Equity futures Currency futures Equity options Interest rate swaptions Other $ $ $ $ Other liabilities Cash flow hedges: Inflation $ — $ — $ $ Derivatives not designated as hedging instruments: Interest rate swaps Embedded derivative - Modco reinsurance treaties Funds withheld derivative Embedded derivative - GMWB Embedded derivative - FIA Embedded derivative - IUL Interest rate futures — — Equity futures Currency futures — — Equity options Other — — $ $ $ $ (1) These derivatives include the Interest, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.

OFFSETTING OF ASSETS AND LIAB42

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2015
OFFSETTING OF ASSETS AND LIABILITIES
Schedule of derivative assets	The tables below present the derivative instruments by assets and liabilities for the Company as of September 30, 2015 (Successor Company). Net Amounts Gross of Assets Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Assets Position Position Instruments Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Embedded derivative - GMWB — — — Derivatives with PLC — — — Other — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Total Assets $ $ — $ $ $ $ The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014 (Predecessor Company). Net Amounts Gross of Assets Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Assets Position Position Instruments Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Embedded derivative - GMWB — — — Derivatives with PLC — — — Other — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Total Assets $ $ — $ $ $ $
Schedule of derivative liabilities	Net Amounts Gross of Liabilities Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Liabilities Position Position Instruments Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ $ — $ $ $ $ — Total derivatives, subject to a master netting arrangement or similar arrangement — — Derivatives, not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Funds withheld derivative — Embedded derivative - GMWB — — — Embedded derivative - FIA — — — Embedded derivative - IUL — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Repurchase agreements (1) — — — Total Liabilities $ $ — $ $ $ $ (1) Borrowings under repurchase agreements are for a term less than 90 days. Net Amounts Gross of Liabilities Gross Amounts Not Offset Amounts Presented in in the Statement of Gross Offset in the the Financial Position Amounts of Statement of Statement of Cash Recognized Financial Financial Financial Collateral Liabilities Position Position Instruments Paid Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ $ — $ $ $ $ Total derivatives, subject to a master netting arrangement or similar arrangement — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties — — — Funds withheld derivative — — — Embedded derivative - GMWB — — — Embedded derivative - FIA — — — Embedded derivative - IUL — — — Total derivatives, not subject to a master netting arrangement or similar arrangement — — — Total derivatives — Repurchase agreements (1) — — — Total Liabilities $ $ — $ $ $ $ (1) Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
OPERATING SEGMENTS
Summary of financial information for the Company's segments	Successor Predecessor Company Company For The Three February 1, 2015 January 1, 2015 For The Three For The Nine Months Ended to to Months Ended Months Ended September 30, 2015 September 30, 2015 January 31, 2015 September 30, 2014 September 30, 2014 (Dollars In Thousands) (Dollars In Thousands) Revenues Life Marketing $ $ $ $ $ Acquisitions Annuities Stable Value Products Asset Protection Corporate and Other Total revenues $ $ $ $ $ Segment Operating Income (Loss) Life Marketing $ $ $ ) $ $ Acquisitions Annuities Stable Value Products Asset Protection Corporate and Other ) ) ) ) ) Total segment operating income Realized investment (losses) gains - investments (1) ) ) Realized investment (losses) gains - derivatives ) Income tax expense ) ) ) ) ) Net income $ $ $ $ $ (2) Investment gains (losses) $ ) $ ) $ $ ) $ Less: amortization related to DAC/VOBA and benefits and settlement expenses ) ) Realized investment gains (losses) - investments $ $ ) $ $ ) $ (3) Derivative gains (losses) $ $ $ $ $ ) Less: VA GMWB economic cost ) ) ) ) ) Realized investment gains (losses) - derivatives $ $ $ $ $ ) (1) Includes credit related other-than-temporary impairments of $10.1 million and $15.8 million for the three months ended September 30, 2015 (Successor Company) and for the period of February 1, 2015 to September 30, 2015 (Successor Company), respectively. Includes credit related other-than-temporary impairments of $0.5 million, $2.3 million, and $5.4 million for the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the three and nine months ended September 30, 2014 (Predecessor Company), respectively. (2) Includes realized investment gains (losses) before related amortization. (3) Includes realized gains (losses) on derivatives before the VA GMWB economic cost. Operating Segment Assets As of September 30, 2015 (Successor Company) (Dollars In Thousands) Life Stable Value Marketing Acquisitions Annuities Products Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired ) — Other intangibles Goodwill Total assets $ $ $ $ Asset Corporate Total Protection and Other Adjustments Consolidated Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired — — Other intangibles Goodwill — — Total assets $ $ $ $ Operating Segment Assets As of December 31, 2014 (Predecessor Company) (Dollars In Thousands) Life Stable Value Marketing Acquisitions Annuities Products Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired Goodwill — — — Total assets $ $ $ $ Asset Corporate Total Protection and Other Adjustments Consolidated Investments and other assets $ $ $ $ Deferred policy acquisition costs and value of business acquired — Goodwill — — Total assets $ $ $ $

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Feb. 01, 2015
BASIS OF PRESENTATION
Goodwill.	$ 735,712	$ 735,700

SUMMARY OF SIGNIFICANT ACCOUN45

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Feb. 01, 2015	Dec. 31, 2014
Property and Equipment
Goodwill.	$ 735,712	$ 735,700
Property and equipment
Total property and equipment, gross	108,385
Accumulated depreciation	5,662
Total property and equipment	$ 102,723
Predecessor
Property and Equipment
Goodwill.			$ 77,577
Property and equipment
Total property and equipment, gross			168,448
Accumulated depreciation			116,688
Total property and equipment			51,760
Home office building
Property and equipment
Useful life	25 years
Total property and equipment, gross	$ 65,342
Home office building | Predecessor
Property and equipment
Total property and equipment, gross			75,109
Land
Property and equipment
Total property and equipment, gross	24,920
Data processing equipment
Property and equipment
Total property and equipment, gross	14,212
Data processing equipment | Predecessor
Property and equipment
Total property and equipment, gross			40,568
Other, principally furniture and equipment
Property and equipment
Total property and equipment, gross	$ 3,911
Other, principally furniture and equipment | Predecessor
Property and equipment
Total property and equipment, gross			$ 52,771

SUMMARY OF SIGNIFICANT ACCOUN46

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Feb. 01, 2015
Guaranteed minimum withdrawal benefits (GMWB)
Guaranteed Minimum Withdrawal Benefits
Guaranteed benefit liability, net	$ 14.5
Annuity account | Guaranteed minimum withdrawal benefits (GMWB)
Guaranteed Minimum Withdrawal Benefits
Decrease in net liability		$ 69.4
Annuity account | Guaranteed minimum death benefits (GMDB)
Guaranteed Minimum Withdrawal Benefits
GMDB reserve	$ 29.2

RECENTLY ANNOUNCED REINSURANC47

RECENTLY ANNOUNCED REINSURANCE TRANSACTION (Details) - Financing Agreement With Golden Gate And Syndicate Of Risk Takers - Maximum $ in Billions	Sep. 30, 2015USD ($)
Term of financing agreement	20 years
Financing capacity under the agreement	$ 2.2

DAI-ICHI MERGER (Details)

DAI-ICHI MERGER (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 01, 2015	Sep. 30, 2015
Assets
Goodwill	$ 735,700	$ 735,712
PLICO | Dai-ichi Life
SIGNIFICANT ACQUISITIONS
Expected tax deductible goodwill	0
Assets
Fixed maturities	38,342,948
Equity securities	699,081
Mortgage loans	5,580,229
Investment real estate	7,456
Policy loans	1,751,872
Other long-term investments	657,346
Short-term investments	311,236
Total investments	47,350,168
Cash	378,903
Accrued investment income	483,691
Accounts and premiums receivable	104,260
Reinsurance receivables	5,538,637
Value of business acquired	1,278,064
Goodwill	735,712
Other intangibles	683,000
Property and equipment	102,736
Other assets	224,555
Income tax receivable	50,117
Assets related to separate accounts
Variable annuity	12,970,587
Variable universal life	819,188
Total assets	70,719,618
Liabilities
Future policy benefits and claims	30,195,397
Unearned premiums	622,278
Total policy liabilities and accruals	30,817,675
Stable value product account balances	1,932,277
Annuity account balances	10,941,661
Other policyholders' funds	1,388,083
Other liabilities	1,533,666
Deferred income taxes	1,861,632
Non-recourse funding obligations	1,895,636
Repurchase program borrowings	50,000
Liabilities related to separate accounts
Variable annuity	12,970,587
Variable universal life	819,188
Total liabilities	64,210,405
Net assets acquired	$ 6,509,213
PLC | Dai-ichi Life
SIGNIFICANT ACQUISITIONS
Per share merger consideration (in dollars per share)	$ 70
Aggregate cash consideration	$ 5,600,000

DAI-ICHI-MERGER (Details 2)

DAI-ICHI-MERGER (Details 2) - USD ($) $ in Thousands	Feb. 01, 2015	Sep. 30, 2015
Estimated future amortization expense
2,015		$ 10,328
2,016		41,313
2,017		41,313
2,018		41,313
2,019		$ 41,313
PLICO | Dai-ichi Life
Intangible assets recognized
Total intangible assets subject to amortization	$ 651,000
Total intangible assets	683,000
PLICO | Dai-ichi Life | Insurance licenses
Intangible assets recognized
Total intangible assets indefinite	32,000
PLICO | Dai-ichi Life | Distribution relationships
Intangible assets recognized
Total intangible assets subject to amortization	$ 405,000
PLICO | Dai-ichi Life | Distribution relationships | Minimum
Intangible assets recognized
Estimated useful life	14 years
PLICO | Dai-ichi Life | Distribution relationships | Maximum
Intangible assets recognized
Estimated useful life	22 years
PLICO | Dai-ichi Life | Trade names
Intangible assets recognized
Total intangible assets subject to amortization	$ 103,000
PLICO | Dai-ichi Life | Trade names | Minimum
Intangible assets recognized
Estimated useful life	13 years
PLICO | Dai-ichi Life | Trade names | Maximum
Intangible assets recognized
Estimated useful life	17 years
PLICO | Dai-ichi Life | Technology
Intangible assets recognized
Total intangible assets subject to amortization	$ 143,000
PLICO | Dai-ichi Life | Technology | Minimum
Intangible assets recognized
Estimated useful life	7 years
PLICO | Dai-ichi Life | Technology | Maximum
Intangible assets recognized
Estimated useful life	14 years

MONY CLOSED BLOCK OF BUSINESS50

MONY CLOSED BLOCK OF BUSINESS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Sep. 30, 2015	Dec. 31, 2014
Closed block liabilities
Minimum amount an existing dividend policyholder obligation can be reduced to							$ 0
Future policy benefits, policyholders' account balances and other							6,036,312
Policyholder dividend obligation	$ 323,432	$ 58,435		$ 323,432			58,435
Other liabilities							33,706
Total closed block liabilities							6,128,453
Closed block assets
Fixed maturities, available-for-sale, at fair value							4,426,194
Mortgage loans on real estate							247,797
Policy loans							749,908
Cash and other invested assets							131,183
Other assets							161,407
Total closed block assets							5,716,489
Excess of reported closed block liabilities over closed block assets							411,964
Portion of above representing accumulated other comprehensive income:
Future earnings to be recognized from closed block assets and closed block liabilities							$ 411,964
Net unrealized investment gains (losses) allocated to policyholder dividend obligation, net of deferred tax benefits				(154,143)
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, at acquisition date				323,432
Applicable to net revenue (losses)				(27,854)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligations				(237,143)
Policyholder dividend obligation, end of period	323,432	58,435		58,435
Deferred tax expense (benefit)				(83,000)
Revenues
Premiums and other income		46,610		128,279
Net investment income (loss)		54,593		142,274
Net investment gains (losses)		167		3,017
Total revenues		101,370		273,570
Benefits and other deductions
Benefits and settlement expenses		90,966		245,711
Other operating expense		258		733
Total benefits and other deductions		91,224		246,444
Net revenues before income taxes		10,146		27,126
Income tax expense		3,551		9,494
Net revenues		$ 6,595		17,632
Predecessor
Closed block liabilities
Future policy benefits, policyholders' account balances and other								$ 6,138,505
Policyholder dividend obligation	366,745		$ 301,215	500,453	$ 190,494	$ 190,494		366,745
Other liabilities								53,838
Total closed block liabilities								6,559,088
Closed block assets
Fixed maturities, available-for-sale, at fair value								4,524,037
Equity securities, available-for-sale, at fair value								5,387
Mortgage loans on real estate								448,855
Policy loans								771,120
Cash and other invested assets								30,984
Other assets								221,270
Total closed block assets								6,001,653
Excess of reported closed block liabilities over closed block assets								557,435
Portion of above representing accumulated other comprehensive income:
Future earnings to be recognized from closed block assets and closed block liabilities								$ 557,435
Net unrealized investment gains (losses) allocated to policyholder dividend obligation, net of deferred tax benefits						106,886
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, at acquisition date	366,745			$ 500,453	190,494	190,494
Applicable to net revenue (losses)	(1,369)				(8,781)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligations	135,077				119,502
Policyholder dividend obligation, end of period	500,453		301,215		301,215	$ 366,745
Deferred tax expense (benefit)	47,277				38,448
Revenues
Premiums and other income	15,065		48,596		151,442
Net investment income (loss)	19,107		63,847		176,470
Net investment gains (losses)	568		223		6,328
Total revenues	34,740		112,666		334,240
Benefits and other deductions
Benefits and settlement expenses	31,152		101,200		300,735
Other operating expense			286		376
Total benefits and other deductions	31,152		101,486		301,111
Net revenues before income taxes	3,588		11,180		33,129
Income tax expense	1,256		3,913		11,595
Net revenues	$ 2,332		$ 7,267		$ 21,534

INVESTMENT OPERATIONS (Details)

INVESTMENT OPERATIONS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net realized gains (losses) for all other investments
Fixed maturities		$ (1,304)		$ 2,398
Equity securities		51		72
Impairments on fixed maturity securities		(10,064)		(15,798)
Modco trading portfolio		8,377		(133,524)
Other investments		(1,815)		(1,040)
Total realized gains (losses) - investments		(4,755)		(147,892)
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments)		700		7,600
Gross realized losses		12,000		21,000
Impairment losses on investments available-for-sale		10,100		15,800
Fair value (proceeds) of securities in an unrealized gain position sold		94,800		807,800
Gain realized on the sale of securities in an unrealized gain position		700		7,600
Fair value (proceeds) of securities sold in an unrealized loss position		34,600		83,900
Loss realized on the sale of securities in an unrealized loss position		$ 2,000		$ 5,200
Predecessor
Net realized gains (losses) for all other investments
Fixed maturities	$ 6,891		$ 22,244		$ 49,812
Impairments on fixed maturity securities	(481)		(2,354)		(5,405)
Modco trading portfolio	73,062		(17,225)		110,067
Other investments	1,200		(5,135)		(7,383)
Total realized gains (losses) - investments	80,672		(2,470)		147,091
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments)	6,900		22,500		50,600
Gross realized losses	500		2,500		5,900
Impairment losses on investments available-for-sale	400		2,300		5,100
Fair value (proceeds) of securities in an unrealized gain position sold	172,600		494,000		1,100,000
Gain realized on the sale of securities in an unrealized gain position	6,900		22,500		50,600
Fair value (proceeds) of securities sold in an unrealized loss position	$ 400		2,300		6,700
Loss realized on the sale of securities in an unrealized loss position			$ 300		$ 800

INVESTMENT OPERATIONS (Details

INVESTMENT OPERATIONS (Details 2) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	$ 35,956,626
Gross Unrealized Gains	51,262
Gross Unrealized Losses	(2,270,480)
Fair Value	33,737,408
Total OTTI Recognized in OCI	(4,792)
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Fair Value	518,363
Amortized Cost, Held-to-maturity
Total	579,329
Fair Value, Held-to-maturity
Fair Value	518,363
Fixed maturities:
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	35,102,494
Gross Unrealized Gains	48,427
Gross Unrealized Losses	(2,259,719)
Fair Value	32,891,202
Total OTTI Recognized in OCI	(4,792)
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	579,329
Gross Unrealized Losses	(60,966)
Fair Value	518,363
Trading securities	2,700,000
Amortized Cost, Available-for-sale
Due in one year or less	830,760
Due after one year through five years	5,907,186
Due after five years through ten years	7,683,133
Due after ten years	20,681,415
Total	35,102,494
Fair Value, Available-for-sale
Due in one year or less	830,346
Due after one year through five years	5,863,235
Due after five years through ten years	7,495,785
Due after ten years	18,701,836
Total	32,891,202
Amortized Cost, Held-to-maturity
Due after ten years	579,329
Total	579,329
Fair Value, Held-to-maturity
Due after ten years	518,363
Fair Value	518,363
Residential mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,617,048
Gross Unrealized Gains	13,339
Gross Unrealized Losses	(14,565)
Fair Value	1,615,822
Commercial mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,293,603
Gross Unrealized Gains	1,982
Gross Unrealized Losses	(18,970)
Fair Value	1,276,615
Other asset-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	815,437
Gross Unrealized Gains	1,320
Gross Unrealized Losses	(23,743)
Fair Value	793,014
U.S. government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,631,826
Gross Unrealized Gains	1,189
Gross Unrealized Losses	(15,543)
Fair Value	1,617,472
Other government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	19,360
Gross Unrealized Losses	(476)
Fair Value	18,884
States, municipals, and political subdivisions
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,732,549
Gross Unrealized Gains	759
Gross Unrealized Losses	(119,823)
Fair Value	1,613,485
Total OTTI Recognized in OCI	50
Corporate securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	27,928,309
Gross Unrealized Gains	29,838
Gross Unrealized Losses	(2,064,349)
Fair Value	25,893,798
Total OTTI Recognized in OCI	(4,842)
Preferred stocks
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	64,362
Gross Unrealized Losses	(2,250)
Fair Value	62,112
Other.
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	579,329
Gross Unrealized Losses	(60,966)
Fair Value	518,363
Fair Value, Held-to-maturity
Fair Value	518,363
Equity securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	685,969
Gross Unrealized Gains	2,835
Gross Unrealized Losses	(10,761)
Fair Value	678,043
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	6,700
Short-term investments
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	168,163
Fair Value	168,163
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	$ 65,200
Predecessor
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		$ 31,763,413
Gross Unrealized Gains		3,274,304
Gross Unrealized Losses		(213,419)
Fair Value		34,824,298
Total OTTI Recognized in OCI		6,309
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Gross Unrealized Losses		0
Fair Value		485,422
Amortized Cost, Held-to-maturity
Total		435,000
Fair Value, Held-to-maturity
Fair Value		485,422
Predecessor | Fixed maturities:
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		30,898,028
Gross Unrealized Gains		3,238,658
Gross Unrealized Losses		(199,266)
Fair Value		33,937,420
Total OTTI Recognized in OCI		6,309
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost		435,000
Gross Unrealized Gains		50,422
Fair Value		485,422
Trading securities		2,800,000
Fair Value, Held-to-maturity
Fair Value		485,422
Predecessor | Residential mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		1,374,141
Gross Unrealized Gains		56,381
Gross Unrealized Losses		(12,264)
Fair Value		1,418,258
Total OTTI Recognized in OCI		6,404
Predecessor | Commercial mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		1,119,979
Gross Unrealized Gains		59,637
Gross Unrealized Losses		(2,364)
Fair Value		1,177,252
Predecessor | Other asset-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		857,365
Gross Unrealized Gains		17,961
Gross Unrealized Losses		(35,950)
Fair Value		839,376
Total OTTI Recognized in OCI		(95)
Predecessor | U.S. government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		1,394,028
Gross Unrealized Gains		44,149
Gross Unrealized Losses		(9,282)
Fair Value		1,428,895
Predecessor | Other government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		16,939
Gross Unrealized Gains		3,233
Fair Value		20,172
Predecessor | States, municipals, and political subdivisions
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		1,391,526
Gross Unrealized Gains		296,594
Gross Unrealized Losses		(431)
Fair Value		1,687,689
Predecessor | Corporate securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		24,744,050
Gross Unrealized Gains		2,760,703
Gross Unrealized Losses		(138,975)
Fair Value		27,365,778
Predecessor | Other.
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost		435,000
Gross Unrealized Gains		50,422
Fair Value		485,422
Fair Value, Held-to-maturity
Fair Value		485,422
Predecessor | Equity securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		713,813
Gross Unrealized Gains		35,646
Gross Unrealized Losses		(14,153)
Fair Value		735,306
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities		21,500
Predecessor | Short-term investments
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost		151,572
Fair Value		151,572
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities		$ 95,100

INVESTMENT OPERATIONS (Detail53

INVESTMENT OPERATIONS (Details 3) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded		$ 14,906		$ 28,301
Other-than-temporary impairments of investments recorded in earnings		10,064		15,798
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)		4,842		12,503
Fixed maturities
INVESTMENT OPERATIONS
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell		0		0
Credit losses on debt securities
Beginning balance		4,472
Additions for newly impaired securities				4,472
Additions for previously impaired securities		9,479		9,479
Reductions for previously impaired securities that were sold in the current period		(687)		(687)
Ending balance		13,264		13,264
Equity securities
INVESTMENT OPERATIONS
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell		$ 0		0
Predecessor
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	$ 636		$ 1,142		$ 2,026
Other-than-temporary impairments of investments recorded in earnings	481		2,354		5,405
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)	155		(1,212)		(3,379)
Additional non-credit losses	100		1,200		3,400
Predecessor | Fixed maturities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	600		1,100		2,000
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	0		0		0
Credit losses on debt securities
Beginning balance	15,463		17,938	$ 15,684	41,674
Additions for previously impaired securities	221		626		1,653
Reductions for previously impaired securities due to a change in expected cash flows			(3,640)		(28,403)
Ending balance	15,684		14,924		14,924
Predecessor | Equity securities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded			2,300		5,400
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	$ 0		$ 0		$ 0

INVESTMENT OPERATIONS (Detail54

INVESTMENT OPERATIONS (Details 4) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Sep. 30, 2015USD ($)position	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)position	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Fair Value
Less Than 12 Months		$ 30,050,957		$ 30,050,957
Total		30,050,957		30,050,957
Unrealized Loss
Less Than 12 Months		(2,270,480)		(2,270,480)
Total		$ (2,270,480)		$ (2,270,480)
Total positions that were in an unrealized loss position | position		2,433		2,433
Available-for-sale securities, fair value		$ 33,737,408		$ 33,737,408
Available-for-sale securities, amortized cost		35,956,626		35,956,626
Below investment grade
Unrealized Loss
Available-for-sale securities, fair value		1,500,000		1,500,000
Available-for-sale securities, amortized cost		1,600,000		1,600,000
Securities in trading portfolio		302,100		302,100
Securities not publicly traded		973,400		973,400
Fixed maturities:
Unrealized Loss
Available-for-sale securities, fair value		32,891,202		32,891,202
Available-for-sale securities, amortized cost		35,102,494		35,102,494
Securities in trading portfolio		2,700,000		2,700,000
Change in unrealized gains (losses), net of income tax		(54,274)		(1,437,340)
Residential mortgage-backed securities
Fair Value
Less Than 12 Months		884,032		884,032
Total		884,032		884,032
Unrealized Loss
Less Than 12 Months		(14,565)		(14,565)
Total		(14,565)		(14,565)
Available-for-sale securities, fair value		1,615,822		1,615,822
Available-for-sale securities, amortized cost		1,617,048		1,617,048
Commercial mortgage-backed securities
Fair Value
Less Than 12 Months		1,104,282		1,104,282
Total		1,104,282		1,104,282
Unrealized Loss
Less Than 12 Months		(18,970)		(18,970)
Total		(18,970)		(18,970)
Available-for-sale securities, fair value		1,276,615		1,276,615
Available-for-sale securities, amortized cost		1,293,603		1,293,603
Other asset-backed securities
Fair Value
Less Than 12 Months		704,678		704,678
Total		704,678		704,678
Unrealized Loss
Less Than 12 Months		(23,743)		(23,743)
Total		(23,743)		(23,743)
Percentage of underlying collateral including student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum						97.00%
Available-for-sale securities, fair value		793,014		793,014
Available-for-sale securities, amortized cost		815,437		815,437
U.S. government-related securities
Fair Value
Less Than 12 Months		1,359,161		1,359,161
Total		1,359,161		1,359,161
Unrealized Loss
Less Than 12 Months		(15,543)		(15,543)
Total		(15,543)		(15,543)
Available-for-sale securities, fair value		1,617,472		1,617,472
Available-for-sale securities, amortized cost		1,631,826		1,631,826
Other government-related securities
Fair Value
Less Than 12 Months		18,884		18,884
Total		18,884		18,884
Unrealized Loss
Less Than 12 Months		(476)		(476)
Total		(476)		(476)
Available-for-sale securities, fair value		18,884		18,884
Available-for-sale securities, amortized cost		19,360		19,360
States, municipals, and political subdivisions
Fair Value
Less Than 12 Months		1,567,309		1,567,309
Total		1,567,309		1,567,309
Unrealized Loss
Less Than 12 Months		(119,823)		(119,823)
Total		(119,823)		(119,823)
Available-for-sale securities, fair value		1,613,485		1,613,485
Available-for-sale securities, amortized cost		1,732,549		1,732,549
Corporate securities
Fair Value
Less Than 12 Months		23,902,127		23,902,127
Total		23,902,127		23,902,127
Unrealized Loss
Less Than 12 Months		(2,064,349)		(2,064,349)
Total		(2,064,349)		(2,064,349)
Available-for-sale securities, fair value		25,893,798		25,893,798
Available-for-sale securities, amortized cost		27,928,309		27,928,309
Preferred stocks
Fair Value
Less Than 12 Months		62,112		62,112
Total		62,112		62,112
Unrealized Loss
Less Than 12 Months		(2,250)		(2,250)
Total		(2,250)		(2,250)
Available-for-sale securities, fair value		62,112		62,112
Available-for-sale securities, amortized cost		64,362		64,362
Equity securities
Fair Value
Less Than 12 Months		448,372		448,372
Total		448,372		448,372
Unrealized Loss
Less Than 12 Months		(10,761)		(10,761)
Total		(10,761)		(10,761)
Available-for-sale securities, fair value		678,043		678,043
Available-for-sale securities, amortized cost		685,969		685,969
Securities in trading portfolio		6,700		6,700
Change in unrealized gains (losses), net of income tax		$ 2,385		$ (5,152)
Predecessor
Fair Value
Less Than 12 Months						$ 2,232,805
12 Months or More						1,904,974
Total						4,137,779
Unrealized Loss
Less Than 12 Months						(96,859)
12 Months or More						(116,560)
Total						(213,419)
Available-for-sale securities, fair value						34,824,298
Available-for-sale securities, amortized cost						31,763,413
Predecessor | Fixed maturities:
Unrealized Loss
Available-for-sale securities, fair value						33,937,420
Available-for-sale securities, amortized cost						30,898,028
Securities in trading portfolio						2,800,000
Change in unrealized gains (losses), net of income tax	$ 669,160		$ (143,278)		$ 1,004,483
Predecessor | Residential mortgage-backed securities
Fair Value
Less Than 12 Months						165,877
12 Months or More						67,301
Total						233,178
Unrealized Loss
Less Than 12 Months						(9,547)
12 Months or More						(2,717)
Total						(12,264)
Available-for-sale securities, fair value						1,418,258
Available-for-sale securities, amortized cost						1,374,141
Predecessor | Commercial mortgage-backed securities
Fair Value
Less Than 12 Months						49,908
12 Months or More						102,529
Total						152,437
Unrealized Loss
Less Than 12 Months						(334)
12 Months or More						(2,030)
Total						(2,364)
Available-for-sale securities, fair value						1,177,252
Available-for-sale securities, amortized cost						1,119,979
Predecessor | Other asset-backed securities
Fair Value
Less Than 12 Months						108,665
12 Months or More						537,488
Total						646,153
Unrealized Loss
Less Than 12 Months						(6,473)
12 Months or More						(29,477)
Total						(35,950)
Available-for-sale securities, fair value						839,376
Available-for-sale securities, amortized cost						857,365
Predecessor | U.S. government-related securities
Fair Value
Less Than 12 Months						231,917
12 Months or More						280,803
Total						512,720
Unrealized Loss
Less Than 12 Months						(3,868)
12 Months or More						(5,414)
Total						(9,282)
Available-for-sale securities, fair value						1,428,895
Available-for-sale securities, amortized cost						1,394,028
Predecessor | Other government-related securities
Unrealized Loss
Available-for-sale securities, fair value						20,172
Available-for-sale securities, amortized cost						16,939
Predecessor | States, municipals, and political subdivisions
Fair Value
Less Than 12 Months						1,905
12 Months or More						10,481
Total						12,386
Unrealized Loss
Less Than 12 Months						(134)
12 Months or More						(297)
Total						(431)
Available-for-sale securities, fair value						1,687,689
Available-for-sale securities, amortized cost						1,391,526
Predecessor | Corporate securities
Fair Value
Less Than 12 Months						1,657,103
12 Months or More						776,863
Total						2,433,966
Unrealized Loss
Less Than 12 Months						(76,285)
12 Months or More						(62,690)
Total						(138,975)
Available-for-sale securities, fair value						27,365,778
Available-for-sale securities, amortized cost						24,744,050
Predecessor | Equity securities
Fair Value
Less Than 12 Months						17,430
12 Months or More						129,509
Total						146,939
Unrealized Loss
Less Than 12 Months						(218)
12 Months or More						(13,935)
Total						(14,153)
Available-for-sale securities, fair value						735,306
Available-for-sale securities, amortized cost						713,813
Securities in trading portfolio						$ 21,500
Change in unrealized gains (losses), net of income tax	$ 12,172		$ (3,784)		$ 29,220

INVESTMENT OPERATIONS (Detail55

INVESTMENT OPERATIONS (Details 5) - Red Mountain	8 Months Ended
	Sep. 30, 2015USD ($)item	Dec. 31, 2014item
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs	1
Ownership interest through an affiliate (as a percent)	100.00%
Investment to which risk of loss related to the VIE is limited | $	$ 10,000
Payments made to guarantee | $	$ 0
Predecessor
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs		1

MORTGAGE LOANS (Details)

MORTGAGE LOANS (Details) $ in Thousands	8 Months Ended
	Sep. 30, 2015USD ($)
Mortgage loans
Mortgage loan holdings	$ 5,728,237
Amount that would become due in remainder of 2015, if loans are called at their next call dates	27,300
Amount that would become due in 2016 through 2020, if loans are called at their next call dates	944,400
Amount that would become due in 2021 through 2025, if loans are called at their next call dates	365,300
Amount that would become due after 2025, if loans are called at their next call dates	114,500
Commercial mortgage loans
Mortgage loans
Mortgage loan holdings	$ 5,700,000
Minimum
Mortgage loans
Period for exercise of call options or interest rate reset options	3 years
Maximum
Mortgage loans
Period for exercise of call options or interest rate reset options	10 years

MORTGAGE LOANS (Details 2)

MORTGAGE LOANS (Details 2) - Commercial mortgage loans $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Mortgage loans
Mortgage loans having participation feature		$ 562,600		$ 562,600
Income recognized on participating mortgage loans		3,300		8,400
Nonperforming mortgage loans, foreclosed properties and restructured loans pursuant to pooling and servicing agreement		$ 7,300		$ 7,300
Nonperforming mortgage loans, foreclosed properties and restructured loans to invested assets (as a percent)		0.02%		0.02%
Assets accepted or agreed to be accepted on mortgage loans accounted for as troubled debt restructurings				$ 12,100
Principal amount of loans accounted for as troubled debt restructurings satisfied by acceptance of assets				$ 15,200
Number of loan categories | item				2
Loans not subject to a pooling and servicing agreement which are either nonperforming, restructured, and/or foreclosed		$ 7,300		$ 7,300
Loans subject to a pooling and servicing agreement which are either nonperforming or restructured		0		$ 0
Number of nonperforming loans which have been restructured | item				0
Change in the allowance for credit losses
Charge offs				$ (535)
Recoveries				(639)
Provision				3,199
Ending balance		$ 2,025		$ 2,025
Maximum
Mortgage loans
Loan-to-value ratio with participating interest (as a percent)		85.00%		85.00%
Predecessor
Mortgage loans
Mortgage loans having participation feature						$ 553,600
Income recognized on participating mortgage loans	$ 100		$ 8,000		$ 13,800
Assets accepted or agreed to be accepted on mortgage loans accounted for as troubled debt restructurings	11,300
Principal amount of loans accounted for as troubled debt restructurings satisfied by acceptance of assets	13,800
Change in the allowance for credit losses
Beginning balance	5,720			$ 2,500	$ 3,130	3,130
Charge offs	(861)					(675)
Recoveries	(2,359)					(2,600)
Provision						5,865
Ending balance	$ 2,500					$ 5,720

MORTGAGE LOANS (Details 3)

MORTGAGE LOANS (Details 3) - Commercial mortgage loans $ in Thousands	8 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)loan	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)loan
Delinquent loans
Past due period at which to cease carrying accrued interest on delinquent loans		90 days
Past due period at which to initiate foreclosure proceedings		90 days
Mortgage loans delinquent | $	$ 13,663	$ 13,663	$ 10,456
Number of mortgage loans delinquent	8		5
30-59 Days Delinquent
Delinquent loans
Mortgage loans delinquent | $	$ 6,386	6,386	$ 8,972
Number of mortgage loans delinquent	4		4
60 to 89 Days Delinquent
Delinquent loans
Mortgage loans delinquent | $	$ 6,087	6,087
Number of mortgage loans delinquent	3
Greater than 90 Days Delinquent
Delinquent loans
Mortgage loans delinquent | $	$ 1,190	$ 1,190	$ 1,484
Number of mortgage loans delinquent	1		1

MORTGAGE LOANS (Details 4)

MORTGAGE LOANS (Details 4) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Commercial mortgage loans:
Maximum number of days accrued interest on impaired loans	90 days
Commercial mortgage loans
With no related allowance recorded
Recorded Investment	$ 4,532
Unpaid Principal Balance	5,288
Average Recorded Investment	1,511
Interest Income Recognized	72
Cash Basis Interest Income	45
With an allowance recorded
Recorded Investment	5,676
Unpaid Principal Balance	5,828
Related Allowance	2,025
Average Recorded Investment	2,838
Cash Basis Interest Income	$ 48
Predecessor | Commercial mortgage loans
With an allowance recorded
Recorded Investment		$ 19,632
Unpaid Principal Balance		20,603
Related Allowance		5,720
Average Recorded Investment		3,272
Interest Income Recognized		1,224
Cash Basis Interest Income		$ 1,280

MORTGAGE LOANS (Details 5)

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

DEFERRED POLICY ACQUISITION C61

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Details) - USD ($) $ in Thousands	1 Months Ended	8 Months Ended	12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Balances and changes in DAC
Capitalization of commissions, sales and issue expenses		$ 216,209
Amortization		(14,994)
Change in unrealized investment gains and losses		6,560
Balance, end of period		207,775
Balances and changes in VOBA
Balance, beginning of period		1,278,063
Amortization		(62,370)
Change in unrealized gains and losses		52,301
Other		(6,046)
Balance, end of period	$ 1,278,063	1,261,948
Expected amortization of VOBA for the next five years
2,015		39,662
2,016		141,749
2,017		129,671
2,018		117,549
2,019		99,536
Predecessor
Balances and changes in DAC
Balance, beginning of period	2,653,065	2,580,135	$ 2,720,604
Capitalization of commissions, sales and issue expenses	22,820		293,672
Amortization	1,080		(194,517)
Change in unrealized investment gains and losses	(96,830)		(166,694)
Balance, end of period	2,580,135		2,653,065
Balances and changes in VOBA
Balance, beginning of period	501,981	$ 416,669	756,018
Amortization	(5,895)		(113,803)
Change in unrealized gains and losses	(79,417)		(140,234)
Balance, end of period	$ 416,669		$ 501,981

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	1 Months Ended	8 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Feb. 01, 2015	Dec. 31, 2014
Changes in the carrying amount of goodwill
Decrease in goodwill balance		$ 0
Goodwill		735,712	$ 735,700
Goodwill impairment		$ 0
Predecessor
Changes in the carrying amount of goodwill
Decrease in goodwill balance	$ 300
Goodwill				$ 77,577

DEBT AND OTHER OBLIGATIONS (Det

DEBT AND OTHER OBLIGATIONS (Details) $ in Thousands

Feb. 03, 2015

Feb. 02, 2015USD ($)

Feb. 01, 2015USD ($)

Oct. 10, 2012USD ($)

Jan. 31, 2015USD ($)

Sep. 30, 2015USD ($)item

Sep. 30, 2014USD ($)

Dec. 31, 2014USD ($)

Jun. 25, 2014USD ($)

Aug. 07, 2013USD ($)

Dec. 10, 2010USD ($)

Apr. 23, 2010USD ($)

DEBT AND OTHER OBLIGATIONS

Non-recourse funding obligations

$ 1,939,078

Repurchase Program Borrowings

Repurchase obligation

455,718

Collateral pledged for repurchase agreements

500,542

U.S. government-related securities.

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

159,775

Loans

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

340,767

Overnight and Continuous

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

465,256

Overnight and Continuous | U.S. government-related securities.

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

124,489

Overnight and Continuous | Loans

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

340,767

Up to 30 days

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

20,257

Up to 30 days | U.S. government-related securities.

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

20,257

30-90 days

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

15,029

30-90 days | U.S. government-related securities.

Repurchase Program Borrowings

Collateral pledged for repurchase agreements

15,029

Repurchase Program Borrowings

Repurchase Program Borrowings

Fair value of securities pledged under the repurchase program

500,500

Repurchase obligation

$ 455,700

Average borrowing rate (as a percent)

0.22%

Maximum outstanding balance

$ 652,200

Average daily balance

$ 530,500

Average daily borrowing rate (as a percent)

0.18%

Repurchase Program Borrowings | Maximum

Repurchase Program Borrowings

Term of debt

90 days

Credit Facility

DEBT AND OTHER OBLIGATIONS

Line of credit, maximum borrowing capacity

$ 750,000

Base of floating rate interest payments

LIBOR

Facility fee percentage

0.175%

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

$ 1,000,000

Credit Facility | Prime rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

prime rate

Credit Facility | Federal funds rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

Federal Funds rate

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

0.50%

Credit Facility | LIBOR One-Month Rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

one-month LIBOR

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

1.00%

2015 Credit Facility

DEBT AND OTHER OBLIGATIONS

Line of credit, maximum borrowing capacity

$ 1,000,000

Base of floating rate interest payments

LIBOR

Facility fee percentage

0.125%

0.15%

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

$ 1,250,000

2015 Credit Facility | Prime rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

prime rate

2015 Credit Facility | Federal funds rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

Federal Funds rate

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

0.50%

2015 Credit Facility | LIBOR One-Month Rate

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

one-month LIBOR

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

1.00%

Letter of Credit

DEBT AND OTHER OBLIGATIONS

Previously executed Letter of Credit no longer issued and outstanding

$ 55,000

Golden Gate

DEBT AND OTHER OBLIGATIONS

Non-recourse funding obligations

$ 1,150,551

Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)

4.66%

Golden Gate | Non-recourse Funding Obligations Series

DEBT AND OTHER OBLIGATIONS

Number of series of Surplus Notes | item

3

Outstanding Surplus Notes

$ 800,000

Golden Gate | Series A1 Non-recourse Funding Obligation

DEBT AND OTHER OBLIGATIONS

Outstanding Surplus Notes

$ 400,000

Fixed interest rate (as a percent)

7.375%

Golden Gate | Series A2 Non-recourse Funding Obligation

DEBT AND OTHER OBLIGATIONS

Outstanding Surplus Notes

$ 100,000

Fixed interest rate (as a percent)

8.00%

Golden Gate | Series A3 Non-recourse Funding Obligation

DEBT AND OTHER OBLIGATIONS

Outstanding Surplus Notes

$ 300,000

Fixed interest rate (as a percent)

8.45%

Golden Gate II

DEBT AND OTHER OBLIGATIONS

Outstanding non-recourse funding obligations

$ 575,000

Non-recourse funding obligations held by external parties

144,900

Non-recourse funding obligations held by nonconsolidated affiliates

145,300

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

284,800

Payments made under the agreements

0

Non-recourse funding obligations

$ 235,910

Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)

1.19%

Repurchase Program Borrowings

Amount of collateralized support agreement obligations by PLC

$ 1,900

PLC | 2015 Credit Facility

DEBT AND OTHER OBLIGATIONS

Line of credit, amount outstanding

$ 495,000

Base of floating rate interest payments

LIBOR

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

1.00%

Golden Gate V and Red Mountain

DEBT AND OTHER OBLIGATIONS

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

20 years

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

$ 945,000

Red Mountain

DEBT AND OTHER OBLIGATIONS

Initial principal amount of note for deposit to a reinsurance trust

275,000

Maximum principal amount of note for deposit to a reinsurance trust

$ 945,000

Credit enhancement period for Red Mountain note

20 years

Principal balance of note

$ 485,000

Golden Gate V

DEBT AND OTHER OBLIGATIONS

Fixed interest rate (as a percent)

6.25%

Outstanding non-recourse funding obligations

$ 485,000

Future scheduled capital contributions to prefund credit enhancements fees amount

139,600

Payments made under the agreements

0

Maximum principal amount of non-recourse funding obligation

945,000

Non-recourse funding obligations

$ 550,079

Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)

5.12%

Golden Gate III

DEBT AND OTHER OBLIGATIONS

Outstanding letters of credit (LOC)

$ 935,000

Payments made under the agreements

$ 0

Maximum LOC borrowing capacity

$ 915,000

$ 710,000

$ 505,000

Maximum stated amount up to which LOC may be increased

$ 935,000

$ 720,000

$ 610,000

Letter of credit term

15 years

Future scheduled capital contributions amount

$ 122,500

Number of installments for payment of capital contributions amount | item

3

Golden Gate IV

DEBT AND OTHER OBLIGATIONS

Payments made under the agreements

$ 0

Maximum LOC borrowing capacity

770,000

$ 270,000

Maximum stated amount up to which LOC may be increased

$ 790,000

Letter of credit term

12 years

MONY

DEBT AND OTHER OBLIGATIONS

Non-recourse funding obligations

$ 2,538

Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)

6.19%

Predecessor

DEBT AND OTHER OBLIGATIONS

Non-recourse funding obligations

$ 1,527,752

Repurchase of outstanding non-recourse funding obligations

$ 6,000

Pre-tax gain on repurchase of debt

$ 1,500

Repurchase Program Borrowings

Repurchase obligation

50,000

Predecessor | Repurchase Program Borrowings

Repurchase Program Borrowings

Repurchase obligation

50,000

Maximum outstanding balance

$ 175,000

633,700

Average daily balance

$ 77,400

$ 470,400

Average daily borrowing rate (as a percent)

0.16%

0.11%

Predecessor | Letter of Credit

DEBT AND OTHER OBLIGATIONS

Outstanding letters of credit (LOC)

$ 55,000

Predecessor | PLC | Credit Facility

DEBT AND OTHER OBLIGATIONS

Line of credit, amount outstanding

$ 450,000

Predecessor | PLC | Credit Facility | LIBOR

DEBT AND OTHER OBLIGATIONS

Base of floating rate interest payments

LIBOR

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

1.20%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended
	Sep. 30, 2015USD ($)
Targeted multi-state examination
Commitment and contingency
Administrative and/or examination fees which the insurance regulators could demand, minimum	$ 0
Administrative and/or examination fees which the insurance regulators could demand, maximum	3.5
PLC
Commitment and contingency
Additional income tax payment if IRS prevails on every issue	13
Income tax refunds expected as a result of accepted IRS adjustments	$ 9.8

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Defined Benefit Pension Plan
Change in projected benefit obligation:
Service cost		$ 2,973		$ 7,928
Interest cost		2,433		6,488
Unfunded Excess Benefits Plan
Change in projected benefit obligation:
Service cost		333		888
Interest cost		$ 408		1,088
PLC | Defined Benefit Pension Plan
Change in plan assets:
Employer contributions				1,400
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	$ 262,290					$ 249,453
Change in projected benefit obligation:
Projected benefit obligation at beginning of period	267,331			281,099	$ 219,152	219,152
Service cost	974		$ 2,227		6,680	9,411
Interest cost	1,002		2,587		7,761	10,493
Actuarial (gain) or loss	12,384					38,110
Benefits paid	(592)					(9,835)
Projected benefit obligation at end of period	281,099					267,331
Change in plan assets:
Fair value of plan assets at beginning of period	203,772			201,820	180,173	180,173
Actual return on plan assets	(3,525)					17,921
Employer contributions	2,165					15,513
Benefits paid	(592)					(9,835)
Fair value of plan assets at end of period	201,820					203,772
After reflecting FASB guidance:
Funded status	(79,279)					(63,559)
Amounts recognized in the balance sheet:
Other liabilities	(79,279)					(63,559)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	96,965					80,430
Prior service cost/(credit)	(1,001)					(1,033)
Total amounts recognized in AOCI	95,964					79,397
Predecessor | Unfunded Excess Benefits Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	49,251					47,368
Change in projected benefit obligation:
Projected benefit obligation at beginning of period	49,575			51,243	39,679	39,679
Service cost	95		226		678	954
Interest cost	140		$ 406		$ 1,219	1,696
Actuarial (gain) or loss	1,555					9,153
Benefits paid	(122)					(1,907)
Projected benefit obligation at end of period	51,243					49,575
Change in plan assets:
Employer contributions	122					1,907
Benefits paid	(122)					(1,907)
After reflecting FASB guidance:
Funded status	(51,243)					(49,575)
Amounts recognized in the balance sheet:
Other liabilities	(51,243)					(49,575)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	22,401					20,983
Prior service cost/(credit)	23					24
Total amounts recognized in AOCI	22,424					21,007
Predecessor | Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of period	9,300			$ 9,800
Projected benefit obligation at end of period	9,800					$ 9,300
Predecessor | PLC | Defined Benefit Pension Plan
Change in plan assets:
Employer contributions	$ 2,200

EMPLOYEE BENEFIT PLANS (Detai66

EMPLOYEE BENEFIT PLANS (Details 2) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period		$ 2,973		$ 7,928
Interest cost on projected benefit obligation		2,433		6,488
Expected return on plan assets		(3,642)		(9,712)
Total net periodic benefit cost		1,764		4,704
Unfunded Excess Benefits Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period		333		888
Interest cost on projected benefit obligation		408		1,088
Total net periodic benefit cost		$ 741		1,976
PLC | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Contribution made by the company to its defined benefit pension plan				$ 1,400
Adjusted funding target percentage to be maintained, minimum				80.00%
Predecessor | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period	$ 974		$ 2,227		$ 6,680	$ 9,411
Interest cost on projected benefit obligation	1,002		2,587		7,761	10,493
Expected return on plan assets	(1,293)		(3,065)		(9,194)
Amortization of prior service cost	(33)		(98)		(294)
Amortization of actuarial losses	668		1,576		4,727
Total net periodic benefit cost	1,318		3,227		9,680
Contribution made by the company to its defined benefit pension plan	$ 2,165					15,513
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.55%
Predecessor | Unfunded Excess Benefits Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period	$ 95		226		678	954
Interest cost on projected benefit obligation	140		406		1,219	1,696
Amortization of prior service cost	1		3		9
Amortization of actuarial losses	138		321		962
Total net periodic benefit cost	374		$ 956		$ 2,868
Contribution made by the company to its defined benefit pension plan	$ 122					$ 1,907
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.26%
Predecessor | Group life insurance plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.79%
Predecessor | PLC | Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Contribution made by the company to its defined benefit pension plan	$ 2,200

ACCUMULATED OTHER COMPREHENSI67

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance				$ 6,509,213
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		$ 1,451		(3,115)
Total other comprehensive income (loss)		(38,151)		(935,647)
Balance	$ 6,509,213	5,447,989		5,447,989
Accumulated Other Comprehensive Income (Loss).
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Other comprehensive income (loss) before reclassifications				(941,282)
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings				(3,115)
Amounts reclassified from accumulated other comprehensive income (loss)				8,750
Total other comprehensive income (loss)				(935,647)
Balance		(935,647)		(935,647)
Unrealized gains and losses on available-for-sale securities
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Other comprehensive income (loss) before reclassifications				(941,196)
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings				(3,115)
Amounts reclassified from accumulated other comprehensive income (loss)				8,664
Total other comprehensive income (loss)				(935,647)
Balance		(935,647)		(935,647)
Impact of DAC and VOBA		$ 506,900		506,900
Gains and losses on derivative instruments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Other comprehensive income (loss) before reclassifications				(86)
Amounts reclassified from accumulated other comprehensive income (loss)				86
Predecessor
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	5,831,151			6,397,439
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(243)		$ 1,044		$ 4,494
Total other comprehensive income (loss)	477,766		$ (97,309)		774,522
Balance	6,397,439					$ 5,831,151
Predecessor | Accumulated Other Comprehensive Income (Loss).
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	1,483,211			1,960,977	538,966	538,966
Other comprehensive income (loss) before reclassifications	482,152					983,983
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(243)					3,498
Amounts reclassified from accumulated other comprehensive income (loss)	(4,143)					(43,236)
Total other comprehensive income (loss)	477,766					944,245
Balance	1,960,977					1,483,211
Predecessor | Unrealized gains and losses on available-for-sale securities
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	1,483,293			1,961,027	540,201	540,201
Other comprehensive income (loss) before reclassifications	482,143					983,985
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(243)					3,498
Amounts reclassified from accumulated other comprehensive income (loss)	(4,166)					(44,391)
Total other comprehensive income (loss)	477,734					943,092
Balance	1,961,027					1,483,293
Impact of DAC and VOBA	(492,600)					(504,400)	$ (189,800)
Predecessor | Gains and losses on derivative instruments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Balance	(82)			$ (50)	$ (1,235)	(1,235)
Other comprehensive income (loss) before reclassifications	9					(2)
Amounts reclassified from accumulated other comprehensive income (loss)	23					1,155
Total other comprehensive income (loss)	32					1,153
Balance	$ (50)					$ (82)

ACCUMULATED OTHER COMPREHENSI68

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded		$ (674,815)		$ (1,853,631)
Realized investment gains (losses): All other investments		5,309		(132,094)
Net impairment losses recognized in earnings		(10,064)		(15,798)
Income (loss) before income tax		156,121		145,090
Tax (expense) or benefit		(42,542)		(40,667)
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				(131)
Income (loss) before income tax				(131)
Tax (expense) or benefit				45
Net of tax				(86)
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		(1,253)		2,470
Net impairment losses recognized in earnings		(10,064)		(15,798)
Income (loss) before income tax		(11,317)		(13,328)
Tax (expense) or benefit		3,961		4,664
Net of tax		$ (7,356)		$ (8,664)
Predecessor
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded	$ (266,575)		$ (628,527)		$ (2,102,596)
Realized investment gains (losses): All other investments	81,153		(116)		152,496
Net impairment losses recognized in earnings	(481)		(2,354)		(5,405)
Income (loss) before income tax	132,847		184,120		508,346
Tax (expense) or benefit	(44,325)		(62,287)		(167,921)
Predecessor | 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	(36)		(293)		(1,577)
Income (loss) before income tax	(36)		(293)		(1,577)
Tax (expense) or benefit	13		103		552
Net of tax	(23)		(190)		(1,025)
Predecessor | 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	6,891		22,244		49,812
Net impairment losses recognized in earnings	(481)		(2,354)		(5,405)
Income (loss) before income tax	6,410		19,890		44,407
Tax (expense) or benefit	(2,244)		(6,962)		(15,543)
Net of tax	$ 4,166		$ 12,928		$ 28,864

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Deferred income tax assets:
Loss and credit carryforwards	$ 75,781
Deferred compensation	103,788
Deferred policy acquisition costs	346,439
Net unrealized loss on investments	503,859
Valuation allowance	(796)
Deferred income tax assets	1,029,071
Deferred income tax liabilities:
VOBA and other intangibles	666,660
Premium receivables and policy liabilities	103,036
Invested assets (other than realized gains)	1,619,114
Other	2,589
Deferred income tax liabilities	2,391,399
Net deferred income tax liability	$ (1,362,328)
Predecessor
Deferred income tax assets:
Loss and credit carryforwards		$ 35,642
Premium receivables and policy liabilities		154,720
Deferred compensation		104,117
Invested assets (other than unrealized gains)		2,960
Valuation allowance		(791)
Deferred income tax assets		296,648
Deferred income tax liabilities:
DAC and VOBA		1,073,499
Net unrealized gains on investments		798,529
Other		36,484
Deferred income tax liabilities		1,908,512
Net deferred income tax liability		$ (1,611,864)

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Effective income tax rate (as a percent)		27.30%		28.00%
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period				$ 105,850
Additions for tax positions of the current year				8,217
Additions for tax positions of prior years				1,602
Reductions of tax positions of prior years:
Changes in judgment				(899)
Settlements during the period				(90,872)
Balance, end of period	$ 105,850	$ 23,898		23,898	$ 23,898
Possible reduction in unrecognized tax benefits due to expected closure of appeals process					14,300
Increase in income tax expense from revisions creating permanent tax differences				4,100
Predecessor
Effective income tax rate (as a percent)	32.80%		33.80%			33.00%
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period	$ 168,076			$ 105,850	$ 168,076	$ 85,846	$ 85,846
Additions for tax positions of the current year	(5,010)						57,392
Additions for tax positions of prior years	1,149						34,371
Reductions of tax positions of prior years:
Changes in judgment	(58,365)						(9,533)
Balance, end of period	105,850						168,076
Increase in income tax expense from revisions creating permanent tax differences	$ 200						$ 3,300

FAIR VALUE OF FINANCIAL INSTR71

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Available-for-sale securities	$ 33,737,408
Total fixed maturity securities	35,601,843
Equity securities	684,696
Other long-term investments	350,807
Short-term investments	233,337
Assets related to separate accounts
Variable annuity	12,646,751
Variable universal life	792,800
Liabilities:
Other liabilities	544,390
Fixed maturities:
Assets:
Available-for-sale securities	32,891,202
Trading securities	2,700,000
Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,615,822
Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,276,615
Other asset-backed securities
Assets:
Available-for-sale securities	793,014
U.S. government-related securities
Assets:
Available-for-sale securities	1,617,472
States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,613,485
Other government-related securities
Assets:
Available-for-sale securities	18,884
Corporate securities
Assets:
Available-for-sale securities	25,893,798
Preferred stocks
Assets:
Available-for-sale securities	62,112
Level 3 | Other asset-backed securities
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	585,751
Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities	35,601,843
Equity securities	684,696
Other long-term investments	350,807
Short-term investments	233,337
Total investments	36,870,683
Cash	517,900
Assets related to separate accounts
Variable annuity	12,646,751
Variable universal life	792,800
Total assets measured at fair value on a recurring basis	50,828,134
Liabilities:
Annuity account balances	95,198
Other liabilities	544,390
Total liabilities measured at fair value on a recurring basis	639,588
Measured at fair value on a recurring basis | Fixed maturities:
Assets:
Available-for-sale securities	32,891,202
Trading securities	2,710,641
Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,615,822
Trading securities	288,280
Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,276,615
Trading securities	148,640
Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Available-for-sale securities	793,014
Trading securities	277,090
Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Available-for-sale securities	1,617,472
Trading securities	241,305
Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,613,485
Trading securities	310,973
Measured at fair value on a recurring basis | Other government-related securities
Assets:
Available-for-sale securities	18,884
Trading securities	59,527
Measured at fair value on a recurring basis | Corporate securities
Assets:
Available-for-sale securities	25,893,798
Trading securities	1,377,901
Measured at fair value on a recurring basis | Preferred stocks
Assets:
Available-for-sale securities	62,112
Trading securities	6,925
Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities	1,407,916
Equity securities	606,400
Other long-term investments	122,120
Short-term investments	228,621
Total investments	2,365,057
Cash	517,900
Assets related to separate accounts
Variable annuity	12,646,751
Variable universal life	792,800
Total assets measured at fair value on a recurring basis	16,322,508
Liabilities:
Other liabilities	22,085
Total liabilities measured at fair value on a recurring basis	22,085
Measured at fair value on a recurring basis | Level 1 | Fixed maturities:
Assets:
Available-for-sale securities	1,164,566
Trading securities	243,350
Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Available-for-sale securities	1,102,371
Trading securities	236,425
Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Available-for-sale securities	83
Measured at fair value on a recurring basis | Level 1 | Preferred stocks
Assets:
Available-for-sale securities	62,112
Trading securities	6,925
Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities	32,385,963
Equity securities	11,792
Other long-term investments	172,937
Short-term investments	4,716
Total investments	32,575,408
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	32,575,408
Liabilities:
Other liabilities	138,496
Total liabilities measured at fair value on a recurring basis	138,496
Measured at fair value on a recurring basis | Level 2 | Fixed maturities:
Assets:
Available-for-sale securities	30,092,144
Trading securities	2,293,819
Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,615,819
Trading securities	288,280
Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,276,615
Trading securities	148,640
Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Available-for-sale securities	207,263
Trading securities	121,937
Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Available-for-sale securities	515,101
Trading securities	4,880
Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,613,485
Trading securities	310,973
Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Available-for-sale securities	18,884
Trading securities	59,527
Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Available-for-sale securities	24,844,977
Trading securities	1,359,582
Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities	1,807,964
Equity securities	66,504
Other long-term investments	55,750
Total investments	1,930,218
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	1,930,218
Liabilities:
Annuity account balances	95,198
Other liabilities	383,809
Total liabilities measured at fair value on a recurring basis	479,007
Measured at fair value on a recurring basis | Level 3 | Fixed maturities:
Assets:
Available-for-sale securities	1,634,492
Trading securities	173,472
Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	3
Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Available-for-sale securities	585,751
Trading securities	155,153
Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Available-for-sale securities	1,048,738
Trading securities	$ 18,319
Predecessor
Assets:
Available-for-sale securities		$ 34,824,298
Total fixed maturity securities		36,756,240
Equity securities		756,790
Other long-term investments		270,701
Short-term investments		246,717
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Liabilities:
Other liabilities		629,535
Predecessor | Fixed maturities:
Assets:
Available-for-sale securities		33,937,420
Trading securities		2,800,000
Predecessor | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,258
Predecessor | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Predecessor | Other asset-backed securities
Assets:
Available-for-sale securities		839,376
Predecessor | U.S. government-related securities
Assets:
Available-for-sale securities		1,428,895
Predecessor | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,687,689
Predecessor | Other government-related securities
Assets:
Available-for-sale securities		20,172
Predecessor | Corporate securities
Assets:
Available-for-sale securities		27,365,778
Predecessor | Level 3 | Other asset-backed securities
Assets related to separate accounts
Total assets measured at fair value on a recurring basis		563,752
Predecessor | Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities		36,756,240
Equity securities		756,790
Other long-term investments		270,701
Short-term investments		246,717
Total investments		38,030,448
Cash		268,286
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets measured at fair value on a recurring basis		52,291,103
Liabilities:
Annuity account balances		97,825
Other liabilities		629,535
Total liabilities measured at fair value on a recurring basis		727,360
Predecessor | Measured at fair value on a recurring basis | Fixed maturities:
Assets:
Available-for-sale securities		33,937,420
Trading securities		2,818,820
Predecessor | Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,258
Trading securities		288,114
Predecessor | Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Trading securities		151,111
Predecessor | Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Available-for-sale securities		839,376
Trading securities		274,579
Predecessor | Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Available-for-sale securities		1,428,895
Trading securities		250,461
Predecessor | Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,687,689
Trading securities		325,446
Predecessor | Measured at fair value on a recurring basis | Other government-related securities
Assets:
Available-for-sale securities		20,172
Trading securities		57,032
Predecessor | Measured at fair value on a recurring basis | Corporate securities
Assets:
Available-for-sale securities		27,365,778
Trading securities		1,472,077
Predecessor | Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities		1,410,883
Equity securities		590,832
Other long-term investments		119,997
Short-term investments		243,436
Total investments		2,365,148
Cash		268,286
Assets related to separate accounts
Variable annuity		13,157,429
Variable universal life		834,940
Total assets measured at fair value on a recurring basis		16,625,803
Liabilities:
Other liabilities		62,146
Total liabilities measured at fair value on a recurring basis		62,146
Predecessor | Measured at fair value on a recurring basis | Level 1 | Fixed maturities:
Assets:
Available-for-sale securities		1,165,320
Trading securities		245,563
Predecessor | Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Available-for-sale securities		1,165,188
Trading securities		245,563
Predecessor | Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Available-for-sale securities		132
Predecessor | Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities		33,257,830
Equity securities		99,267
Other long-term investments		106,079
Short-term investments		3,281
Total investments		33,466,457
Assets related to separate accounts
Total assets measured at fair value on a recurring basis		33,466,457
Liabilities:
Other liabilities		61,046
Total liabilities measured at fair value on a recurring basis		61,046
Predecessor | Measured at fair value on a recurring basis | Level 2 | Fixed maturities:
Assets:
Available-for-sale securities		30,878,778
Trading securities		2,379,052
Predecessor | Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Available-for-sale securities		1,418,255
Trading securities		288,114
Predecessor | Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Available-for-sale securities		1,177,252
Trading securities		151,111
Predecessor | Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Available-for-sale securities		275,415
Trading securities		105,118
Predecessor | Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Available-for-sale securities		263,707
Trading securities		4,898
Predecessor | Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		1,684,014
Trading securities		325,446
Predecessor | Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Available-for-sale securities		20,172
Trading securities		57,032
Predecessor | Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Available-for-sale securities		26,039,963
Trading securities		1,447,333
Predecessor | Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities		2,087,527
Equity securities		66,691
Other long-term investments		44,625
Total investments		2,198,843
Assets related to separate accounts
Total assets measured at fair value on a recurring basis		2,198,843
Liabilities:
Annuity account balances		97,825
Other liabilities		506,343
Total liabilities measured at fair value on a recurring basis		604,168
Predecessor | Measured at fair value on a recurring basis | Level 3 | Fixed maturities:
Assets:
Available-for-sale securities		1,893,322
Trading securities		194,205
Predecessor | Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Available-for-sale securities		3
Predecessor | Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Available-for-sale securities		563,961
Trading securities		169,461
Predecessor | Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities		3,675
Predecessor | Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Available-for-sale securities		1,325,683
Trading securities		$ 24,744

FAIR VALUE OF FINANCIAL INSTR72

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)item
Determination of fair values
Number of primary sources of information used for determining fair value | item	1
Total number of primary sources of information available for determining fair value | item	3
Minimum percentage of the Company's fixed maturity securities priced by third party pricing services	90.00%
Number of independent non-binding broker quotes obtained per security | item	1
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations	83.20%
Other long-term investments	$ 350,807
Fair value, derivative liability	$ 544,390
Annuity account balances
Fixed indexed annuities, discount rate for one month (as a percent)	0.40%
Fixed indexed annuities, discount rate for five years (as a percent)	2.19%
Fixed indexed annuities, discount rate for thirty years (as a percent)	3.69%
Interest support, YRT premium support and portfolio maintenance agreement
Determination of fair values
Other long-term investments	$ 5,800
Golden Gate II
Determination of fair values
Amount of collateralized support agreement obligations by PLC	1,900
Golden Gate II | Interest Support Agreement
Determination of fair values
Other long-term investments	3,700
Amount of collateralized support agreement obligations by PLC	1,900
Payments made under agreement	0
Golden Gate II | YRT premium support agreement
Determination of fair values
Other long-term investments	2,200
Payments made under agreement	0
Golden Gate V and West Coast Life | Portfolio maintenance agreements
Determination of fair values
Other long-term investments	0
Payments made under agreement	0
Asset-Backed Securities | Level 2
Determination of fair values
Fair Value	3,700,000
Asset-Backed Securities | Level 3
Determination of fair values
Fair Value	740,900
Asset-Backed Securities | Level 3 | Available-for-sale securities.
Determination of fair values
Fair Value	585,800
Asset-Backed Securities | Level 3 | Trading Securities.
Determination of fair values
Fair Value	$ 155,100
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum	97.00%
Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 2
Determination of fair values
Fair Value	$ 28,700,000
Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 3
Determination of fair values
Fair Value	1,100,000
Equity securities | Level 2 and Level 3
Determination of fair values
Fair Value	78,300
Federal Home Loan Bank stock	$ 65,700
Embedded derivative - GMWB
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - GMWB | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	44.50%
Embedded derivative - GMWB | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	100.00%
Embedded derivative - FIA
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - FIA | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	49.00%
Embedded derivative - FIA | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	80.00%
Embedded derivative - IUL
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - IUL | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	38.00%
Embedded derivative - IUL | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	153.00%
Embedded derivative - Modified coinsurance agreements
Determination of fair values
Statutory policy liabilities (net of policy loans)	$ 2,500,000
Embedded derivative - Modified coinsurance agreements | Trading Securities.
Determination of fair values
Fair Value	227,900
Funds withheld derivative | Level 2
Determination of fair values
Fair value, derivative liability	$ 135,600

FAIR VALUE OF FINANCIAL INSTR73

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - Level 3 - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Unobservable Input
Financial instruments that are valued using broker quotes	$ 199,800,000
Financial instruments with book value approximating to fair value	66,500,000
Other asset-backed securities
Valuation of Level 3 Financial Instruments
Fair Value of Assets	585,751,000
Unobservable Input
Financial instruments that are valued using broker quotes	$ 155,200,000
Discounted cash flow | Other asset-backed securities | Minimum
Unobservable Input
Liquidity premium (as a percent)	0.43%
Paydown rate (as a percent)	9.85%
Discounted cash flow | Other asset-backed securities | Maximum
Unobservable Input
Liquidity premium (as a percent)	1.49%
Paydown rate (as a percent)	15.41%
Discounted cash flow | Other asset-backed securities | Weighted Average
Unobservable Input
Liquidity premium (as a percent)	0.70%
Paydown rate (as a percent)	13.17%
Embedded derivative - GMWB
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	$ 14,454,000
Annuity account
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	95,198,000
Annuity account | Actuarial cash flow model
Unobservable Input
Expenses per policy	$ 81
Withdrawal rate (as a percent)	2.20%
Annuity account | Actuarial cash flow model | Minimum
Unobservable Input
Lapse (as a percent)	2.20%
Nonperformance risk (as a percent)	0.21%
Asset earned rate (as a percent)	4.53%
Return on assets (as a percent)	1.50%
Annuity account | Actuarial cash flow model | Maximum
Unobservable Input
Lapse (as a percent)	33.00%
Nonperformance risk (as a percent)	1.17%
Asset earned rate (as a percent)	5.67%
Return on assets (as a percent)	1.85%
Embedded derivative - FIA
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	$ 76,709,000
Embedded derivative - FIA | Actuarial cash flow model
Unobservable Input
Expenses per policy	$ 81.5
Embedded derivative - FIA | Actuarial cash flow model | Minimum
Unobservable Input
Lapse (as a percent)	2.50%
Nonperformance risk (as a percent)	0.21%
Withdrawal rate (as a percent)	1.10%
Embedded derivative - FIA | Actuarial cash flow model | Maximum
Unobservable Input
Lapse (as a percent)	40.00%
Nonperformance risk (as a percent)	1.17%
Withdrawal rate (as a percent)	4.50%
Embedded derivative - IUL
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	$ 21,711,000
Embedded derivative - IUL | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)	38.00%
Lapse (as a percent)	0.50%
Nonperformance risk (as a percent)	0.21%
Embedded derivative - IUL | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)	153.00%
Lapse (as a percent)	10.00%
Nonperformance risk (as a percent)	1.17%
Corporate securities
Valuation of Level 3 Financial Instruments
Fair Value of Assets	$ 1,022,464,000
Unobservable Input
Financial instruments that are valued using broker quotes	$ 44,600,000
Corporate securities | Discounted cash flow | Minimum
Unobservable Input
Spread over treasury (as a percent)	0.74%
Corporate securities | Discounted cash flow | Maximum
Unobservable Input
Spread over treasury (as a percent)	12.18%
Corporate securities | Discounted cash flow | Weighted Average
Unobservable Input
Spread over treasury (as a percent)	2.45%
Embedded derivative - GMWB | Actuarial cash flow model
Unobservable Input
Utilization (as a percent)	99.00%
Policies that have a one-time over-utilization rate of a specified amount (as a percent)	10.00%
Specified level of one-time over-utilization (as a percent)	400.00%
Embedded derivative - GMWB | Actuarial cash flow model | Minimum
Unobservable Input
Lapse (as a percent)	0.30%
Nonperformance risk (as a percent)	0.21%
Embedded derivative - GMWB | Actuarial cash flow model | Maximum
Unobservable Input
Lapse (as a percent)	15.00%
Nonperformance risk (as a percent)	1.17%
Predecessor
Unobservable Input
Financial instruments that are valued using broker quotes		$ 237,200,000
Financial instruments with book value approximating to fair value		70,400,000
Predecessor | Other asset-backed securities
Valuation of Level 3 Financial Instruments
Fair Value of Assets		563,752,000
Unobservable Input
Financial instruments that are valued using broker quotes		169,700,000
Predecessor | Equity securities
Unobservable Input
Financial instruments with book value approximating to fair value		66,700,000
Predecessor | Fixed maturities
Unobservable Input
Financial instruments with book value approximating to fair value		$ 3,700,000
Predecessor | Discounted cash flow | Other asset-backed securities | Minimum
Unobservable Input
Liquidity premium (as a percent)		0.39%
Paydown rate (as a percent)		9.70%
Predecessor | Discounted cash flow | Other asset-backed securities | Maximum
Unobservable Input
Liquidity premium (as a percent)		1.49%
Paydown rate (as a percent)		15.80%
Predecessor | Discounted cash flow | Other asset-backed securities | Weighted Average
Unobservable Input
Liquidity premium (as a percent)		0.69%
Paydown rate (as a percent)		12.08%
Predecessor | Embedded derivative - GMWB
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities		$ 25,927,000
Predecessor | Embedded derivative - GMWB | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)		44.50%
Lapse (as a percent)		0.25%
Utilization (as a percent)		97.00%
Nonperformance risk (as a percent)		0.12%
Predecessor | Embedded derivative - GMWB | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)		100.00%
Lapse (as a percent)		17.00%
Utilization (as a percent)		101.00%
Nonperformance risk (as a percent)		0.96%
Predecessor | Annuity account
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities		$ 97,825,000
Predecessor | Annuity account | Actuarial cash flow model
Unobservable Input
Withdrawal rate (as a percent)		2.20%
Predecessor | Annuity account | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)		49.00%
Lapse (as a percent)		2.20%
Nonperformance risk (as a percent)		0.12%
Asset earned rate (as a percent)		3.86%
Expenses per policy		$ 88
Return on assets (as a percent)		1.50%
Predecessor | Annuity account | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)		80.00%
Lapse (as a percent)		33.00%
Nonperformance risk (as a percent)		0.96%
Asset earned rate (as a percent)		5.92%
Expenses per policy		$ 102
Return on assets (as a percent)		1.85%
Predecessor | Embedded derivative - FIA
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities		$ 124,465,000
Predecessor | Embedded derivative - FIA | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)		49.00%
Lapse (as a percent)		2.50%
Nonperformance risk (as a percent)		0.12%
Expenses per policy		$ 83
Withdrawal rate (as a percent)		1.10%
Predecessor | Embedded derivative - FIA | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)		80.00%
Lapse (as a percent)		40.00%
Nonperformance risk (as a percent)		0.96%
Expenses per policy		$ 97
Withdrawal rate (as a percent)		4.50%
Predecessor | Embedded derivative - IUL
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities		$ 6,691,000
Predecessor | Embedded derivative - IUL | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)		37.00%
Lapse (as a percent)		0.50%
Nonperformance risk (as a percent)		0.12%
Predecessor | Embedded derivative - IUL | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)		74.00%
Lapse (as a percent)		10.00%
Nonperformance risk (as a percent)		0.96%
Predecessor | Corporate securities
Valuation of Level 3 Financial Instruments
Fair Value of Assets		$ 1,282,864,000
Unobservable Input
Financial instruments that are valued using broker quotes		$ 67,500,000
Predecessor | Corporate securities | Discounted cash flow | Minimum
Unobservable Input
Spread over treasury (as a percent)		0.33%
Predecessor | Corporate securities | Discounted cash flow | Maximum
Unobservable Input
Spread over treasury (as a percent)		7.50%
Predecessor | Corporate securities | Discounted cash flow | Weighted Average
Unobservable Input
Spread over treasury (as a percent)		2.19%

FAIR VALUE OF FINANCIAL INSTR74

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Transfers
Securities transferred into Level 3		$ 0		$ 0
Securities transferred into Level 2 from Level 3		20,000		61,900
Securities transferred from Level 2 to Level 1		0		90,400
Securities transferred out of Level 1		0		0
Predecessor
Transfers
Securities transferred into Level 3	$ 43,200		$ 0		$ 31,000
Securities transferred into Level 2 from Level 3	0		110,600		194,400
Securities transferred from Level 2 to Level 1	0		0		0
Securities transferred out of Level 1	0		0		0
Level 3
Assets:
Beginning Balance		2,049,208		2,240,077
Total Realized and Unrealized Gains Included in Earnings		232		48,678
Total Realized and Unrealized Gains Included in Other Comprehensive Income		5,983		21,767
Total Realized and Unrealized Losses Included in Earnings		(47,543)		(57,507)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(12,985)		(50,123)
Purchases		64,183		176,112
Sales		(107,218)		(379,646)
Transfers in and/or out of Level 3		(20,037)		(61,890)
Other		(1,605)		(7,250)
Ending Balance	2,240,077	1,930,218		1,930,218
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(47,166)		(16,892)
Liabilities:
Beginning Balance		438,123		628,397
Total Realized and Unrealized Gains Included in Earnings		17,329		230,183
Total Realized and Unrealized Losses Included in Earnings		(61,366)		(88,590)
Issuances		93		179
Settlements		3,246		7,976
Ending Balance	628,397	479,007		479,007
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(40,864)		(146,309)
Level 3 | Annuity account
Liabilities:
Beginning Balance		95,178		98,279
Total Realized and Unrealized Losses Included in Earnings		(3,173)		(4,716)
Issuances		93		179
Settlements		3,246		7,976
Ending Balance	98,279	95,198		95,198
Level 3 | Other liabilities.
Liabilities:
Beginning Balance		342,945		530,118
Total Realized and Unrealized Gains Included in Earnings		17,329		230,183
Total Realized and Unrealized Losses Included in Earnings		(58,193)		(83,874)
Ending Balance	530,118	383,809		383,809
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(40,864)		146,309
Level 3 | Total investments
Assets:
Beginning Balance		2,049,208		2,240,077
Total Realized and Unrealized Gains Included in Earnings		232		48,678
Total Realized and Unrealized Gains Included in Other Comprehensive Income		5,983		21,767
Total Realized and Unrealized Losses Included in Earnings		(47,543)		(57,507)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(12,985)		(50,123)
Purchases		64,183		176,112
Sales		(107,218)		(379,646)
Transfers in and/or out of Level 3		(20,037)		(61,890)
Other		(1,605)		(7,250)
Ending Balance	2,240,077	1,930,218		1,930,218
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(47,166)		(16,892)
Level 3 | Fixed maturities:
Assets:
Beginning Balance		1,882,229		2,109,186
Total Realized and Unrealized Gains Included in Earnings		232		8,646
Total Realized and Unrealized Gains Included in Other Comprehensive Income		5,939		21,723
Total Realized and Unrealized Losses Included in Earnings		(2,774)		(9,025)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(12,985)		(50,123)
Purchases		64,183		176,112
Sales		(107,218)		(379,415)
Transfers in and/or out of Level 3		(20,037)		(61,890)
Other		(1,605)		(7,250)
Ending Balance	2,109,186	1,807,964		1,807,964
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(2,397)		(8,442)
Level 3 | Fixed maturities: | Available-for-sale securities.
Assets:
Beginning Balance		1,702,319		1,914,583
Total Realized and Unrealized Gains Included in Earnings		76		4,367
Total Realized and Unrealized Gains Included in Other Comprehensive Income		5,939		21,723
Total Realized and Unrealized Losses Included in Earnings		(164)		(943)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(12,985)		(50,123)
Purchases		62,183		174,112
Sales		(101,161)		(359,898)
Transfers in and/or out of Level 3		(20,037)		(61,890)
Other		(1,678)		(7,439)
Ending Balance	1,914,583	1,634,492		1,634,492
Level 3 | Fixed maturities: | Trading Securities.
Assets:
Beginning Balance		179,910		194,603
Total Realized and Unrealized Gains Included in Earnings		156		4,279
Total Realized and Unrealized Losses Included in Earnings		(2,610)		(8,082)
Purchases		2,000		2,000
Sales		(6,057)		(19,517)
Other		73		189
Ending Balance	194,603	173,472		173,472
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(2,397)		(8,442)
Level 3 | Residential mortgage-backed securities | Available-for-sale securities.
Assets:
Beginning Balance		3		3
Ending Balance	3	3		3
Level 3 | Other asset-backed securities | Available-for-sale securities.
Assets:
Beginning Balance		590,885		603,646
Total Realized and Unrealized Gains Included in Other Comprehensive Income				165
Total Realized and Unrealized Losses Included in Earnings				(92)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(4,185)		(17,076)
Sales				(127)
Other		(949)		(765)
Ending Balance	603,646	585,751		585,751
Level 3 | Other asset-backed securities | Trading Securities.
Assets:
Beginning Balance		160,594		169,473
Total Realized and Unrealized Gains Included in Earnings		83		4,032
Total Realized and Unrealized Losses Included in Earnings		(1,640)		(6,813)
Purchases		2,000		2,000
Sales		(6,001)		(13,877)
Other		117		338
Ending Balance	169,473	155,153		155,153
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(1,500)		(6,896)
Level 3 | States, municipals, and political subdivisions | Available-for-sale securities.
Assets:
Beginning Balance				3,675
Sales				(3,675)
Ending Balance	3,675
Level 3 | Corporate securities | Available-for-sale securities.
Assets:
Beginning Balance		1,111,431		1,307,259
Total Realized and Unrealized Gains Included in Earnings		76		4,367
Total Realized and Unrealized Gains Included in Other Comprehensive Income		5,939		21,558
Total Realized and Unrealized Losses Included in Earnings		(164)		(851)
Total Realized and Unrealized Losses Included in Other Comprehensive Income		(8,800)		(33,047)
Purchases		62,183		174,112
Sales		(101,161)		(356,096)
Transfers in and/or out of Level 3		(20,037)		(61,890)
Other		(729)		(6,674)
Ending Balance	1,307,259	1,048,738		1,048,738
Level 3 | Corporate securities | Trading Securities.
Assets:
Beginning Balance		19,316		25,130
Total Realized and Unrealized Gains Included in Earnings		73		247
Total Realized and Unrealized Losses Included in Earnings		(970)		(1,269)
Sales		(56)		(5,640)
Other		(44)		(149)
Ending Balance	25,130	18,319		18,319
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		(897)		(1,546)
Level 3 | Equity securities
Assets:
Beginning Balance		66,460		66,691
Total Realized and Unrealized Gains Included in Other Comprehensive Income		44		44
Sales				(231)
Ending Balance	66,691	66,504		66,504
Level 3 | Other long-term investments.
Assets:
Beginning Balance		100,519		64,200
Total Realized and Unrealized Gains Included in Earnings				40,032
Total Realized and Unrealized Losses Included in Earnings		(44,769)		(48,482)
Ending Balance	64,200	55,750		55,750
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date		$ (44,769)		(8,450)
Level 3 | Predecessor
Assets:
Beginning Balance	2,198,843		2,449,931	2,221,953	2,490,492
Total Realized and Unrealized Gains Included in Earnings	17,805		3,123		12,246
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282		10,596		100,142
Total Realized and Unrealized Losses Included in Earnings	(15,501)		(8,427)		(43,683)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896)		(13,843)		(22,507)
Purchases			11,797		116,481
Sales	(7,586)		(72,662)		(213,992)
Transfers in and/or out of Level 3	43,205		(110,587)		(163,358)
Other	(199)		(1,252)		(7,145)
Ending Balance	2,221,953		2,268,676		2,268,676
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	2,304		(4,427)		(35,654)
Liabilities:
Beginning Balance	604,168		502,125	730,226	340,738
Total Realized and Unrealized Gains Included in Earnings	61		23,179		22,342
Total Realized and Unrealized Losses Included in Earnings	(126,531)		(42,833)		(211,050)
Issuances	7		125		300
Settlements	419		3,590		11,432
Ending Balance	730,226		518,314		518,314
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(125,934)		(20,516)		(186,447)
Level 3 | Predecessor | Annuity account
Liabilities:
Beginning Balance	97,825		102,456	97,949	107,000
Total Realized and Unrealized Gains Included in Earnings			862
Total Realized and Unrealized Losses Included in Earnings	(536)				(2,261)
Issuances	7		125		300
Settlements	419		3,590		11,432
Ending Balance	97,949		98,129		98,129
Level 3 | Predecessor | Other liabilities.
Liabilities:
Beginning Balance	506,343		399,669	632,277	233,738
Total Realized and Unrealized Gains Included in Earnings	61		22,317		22,342
Total Realized and Unrealized Losses Included in Earnings	(125,995)		(42,833)		(208,789)
Ending Balance	632,277		420,185		420,185
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(125,934)		(20,516)		(186,447)
Level 3 | Predecessor | Total investments
Assets:
Beginning Balance	2,198,843		2,449,931	2,221,953	2,490,492
Total Realized and Unrealized Gains Included in Earnings	17,805		3,123		12,246
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282		10,596		100,142
Total Realized and Unrealized Losses Included in Earnings	(15,501)		(8,427)		(43,683)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896)		(13,843)		(22,507)
Purchases			11,797		116,481
Sales	(7,586)		(72,662)		(213,992)
Transfers in and/or out of Level 3	43,205		(110,587)		(163,358)
Other	(199)		(1,252)		(7,145)
Ending Balance	2,221,953		2,268,676		2,268,676
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	2,304		(4,427)		(35,654)
Level 3 | Predecessor | Fixed maturities:
Assets:
Beginning Balance	2,087,527		2,304,827	2,109,186	2,323,627
Total Realized and Unrealized Gains Included in Earnings	1,188		2,228		10,926
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282		10,596		98,950
Total Realized and Unrealized Losses Included in Earnings	(335)		(1,584)		(4,751)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896)		(13,752)		(22,250)
Purchases			11,797		106,930
Sales	(7,586)		(72,217)		(212,873)
Transfers in and/or out of Level 3	43,205		(99,936)		(152,707)
Other	(199)		(1,252)		(7,145)
Ending Balance	2,109,186		2,140,707		2,140,707
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	853		1,521		1,958
Level 3 | Predecessor | Fixed maturities: | Available-for-sale securities.
Assets:
Beginning Balance	1,893,322		2,096,079	1,914,583	2,099,451
Total Realized and Unrealized Gains Included in Earnings			201		1,170
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282		10,596		98,950
Total Realized and Unrealized Losses Included in Earnings			(71)		(71)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(26,896)		(13,752)		(22,250)
Purchases			11,797		102,029
Sales	(7,094)		(59,497)		(172,348)
Transfers in and/or out of Level 3	43,205		(96,565)		(151,858)
Other	(236)		(1,934)		(8,219)
Ending Balance	1,914,583		1,946,854		1,946,854
Level 3 | Predecessor | Fixed maturities: | Trading Securities.
Assets:
Beginning Balance	194,205		208,748	194,603	224,176
Total Realized and Unrealized Gains Included in Earnings	1,188		2,027		9,756
Total Realized and Unrealized Losses Included in Earnings	(335)		(1,513)		(4,680)
Purchases					4,901
Sales	(492)		(12,720)		(40,525)
Transfers in and/or out of Level 3			(3,371)		(849)
Other	37		682		1,074
Ending Balance	194,603		193,853		193,853
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	853		1,521		1,958
Level 3 | Predecessor | Residential mortgage-backed securities | Available-for-sale securities.
Assets:
Beginning Balance	3		10	3	28
Total Realized and Unrealized Losses Included in Other Comprehensive Income			(1)		(1)
Sales			(5)		(23)
Other			1		1
Ending Balance	3		5		5
Level 3 | Predecessor | Residential mortgage-backed securities | Trading Securities.
Assets:
Beginning Balance			842
Total Realized and Unrealized Gains Included in Earnings			11		11
Purchases					842
Transfers in and/or out of Level 3			(853)		(853)
Level 3 | Predecessor | Other asset-backed securities | Available-for-sale securities.
Assets:
Beginning Balance	563,961		568,097	603,646	545,808
Total Realized and Unrealized Gains Included in Other Comprehensive Income			2,161		36,227
Total Realized and Unrealized Losses Included in Earnings			(71)		(71)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(3,867)		(4,299)		(5,532)
Sales	(32)		(140)		(9,934)
Transfers in and/or out of Level 3	43,205
Other	379		(380)		(1,130)
Ending Balance	603,646		565,368		565,368
Level 3 | Predecessor | Other asset-backed securities | Trading Securities.
Assets:
Beginning Balance	169,461		176,386	169,473	194,977
Total Realized and Unrealized Gains Included in Earnings	586		1,834		8,685
Total Realized and Unrealized Losses Included in Earnings	(139)		(837)		(3,951)
Sales	(472)		(7,137)		(29,832)
Other	37		430		797
Ending Balance	169,473		170,676		170,676
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	447		1,287		1,959
Level 3 | Predecessor | States, municipals, and political subdivisions | Available-for-sale securities.
Assets:
Beginning Balance	3,675		3,675	3,675	3,675
Ending Balance	3,675		3,675		3,675
Level 3 | Predecessor | Corporate securities | Available-for-sale securities.
Assets:
Beginning Balance	1,325,683		1,524,297	1,307,259	1,549,940
Total Realized and Unrealized Gains Included in Earnings			201		1,170
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,282		8,435		62,723
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(23,029)		(9,452)		(16,717)
Purchases			11,797		102,029
Sales	(7,062)		(59,352)		(162,391)
Transfers in and/or out of Level 3			(96,565)		(151,858)
Other	(615)		(1,555)		(7,090)
Ending Balance	1,307,259		1,377,806		1,377,806
Level 3 | Predecessor | Corporate securities | Trading Securities.
Assets:
Beginning Balance	24,744		31,520	25,130	29,199
Total Realized and Unrealized Gains Included in Earnings	602		182		1,060
Total Realized and Unrealized Losses Included in Earnings	(196)		(676)		(729)
Purchases					4,059
Sales	(20)		(5,583)		(10,693)
Transfers in and/or out of Level 3			(2,518)		4
Other			252		277
Ending Balance	25,130		23,177		23,177
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	406		234		(1)
Level 3 | Predecessor | Equity securities
Assets:
Beginning Balance	66,691		77,882	66,691	67,979
Total Realized and Unrealized Gains Included in Other Comprehensive Income					1,192
Total Realized and Unrealized Losses Included in Other Comprehensive Income			(91)		(257)
Purchases					9,551
Sales			(445)		(1,119)
Transfers in and/or out of Level 3			(10,651)		(10,651)
Ending Balance	66,691		66,695		66,695
Level 3 | Predecessor | Other long-term investments.
Assets:
Beginning Balance	44,625		67,222	$ 46,076	98,886
Total Realized and Unrealized Gains Included in Earnings	16,617		895		1,320
Total Realized and Unrealized Losses Included in Earnings	(15,166)		(6,843)		(38,932)
Ending Balance	46,076		61,274		61,274
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	$ 1,451		$ (5,948)		$ (37,612)

FAIR VALUE OF FINANCIAL INSTR75

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Mortgage loan holdings	$ 5,728,237
Policy loans	1,706,402
Fixed maturities, held-to-maturity	579,329
Liabilities:
Stable value product account balances	1,914,093
Annuity account balances	10,754,799
Debt
Non-recourse funding obligations	1,939,078
Golden Gate V
Debt
Non-recourse funding obligations	550,079
Carrying Amounts
Assets:
Mortgage loan holdings	5,728,237
Policy loans	1,706,402
Fixed maturities, held-to-maturity	579,329
Liabilities:
Stable value product account balances	1,914,093
Annuity account balances	10,754,799
Debt
Non-recourse funding obligations	1,939,078
Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations	485,000
Fair Values | Golden Gate V
Debt
Non-recourse funding obligations	496,700
Fair Values | Level 3
Assets:
Mortgage loan holdings	5,590,446
Policy loans	1,706,402
Fixed maturities, held-to-maturity	518,363
Liabilities:
Stable value product account balances	1,903,615
Annuity account balances	10,321,313
Debt
Non-recourse funding obligations	$ 1,630,091
Predecessor
Assets:
Mortgage loan holdings		$ 5,133,780
Policy loans		1,758,237
Fixed maturities, held-to-maturity		435,000
Liabilities:
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Debt
Non-recourse funding obligations		1,527,752
Predecessor | Carrying Amounts
Assets:
Mortgage loan holdings		5,133,780
Policy loans		1,758,237
Fixed maturities, held-to-maturity		435,000
Liabilities:
Stable value product account balances		1,959,488
Annuity account balances		10,950,729
Debt
Non-recourse funding obligations		1,527,752
Predecessor | Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations		435,000
Predecessor | Fair Values | Golden Gate V
Debt
Non-recourse funding obligations		461,400
Predecessor | Fair Values | Level 3
Assets:
Mortgage loan holdings		5,524,059
Policy loans		1,758,237
Fixed maturities, held-to-maturity		458,422
Liabilities:
Stable value product account balances		1,973,624
Annuity account balances		10,491,775
Debt
Non-recourse funding obligations		$ 1,753,183

DERIVATIVE FINANCIAL INSTRUME76

DERIVATIVE FINANCIAL INSTRUMENTS (Details) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015USD ($)	Sep. 30, 2015USD ($)positionitem	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)positionitem	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Oct. 31, 2012item
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		$ 41,895		$ 47,513
Notional Amount, Other long-term investments		9,197,058		9,197,058
Fair Value, Other long-term investments		350,807		350,807
Notional Amount, Other liabilities		8,678,409		8,678,409
Fair Value, Other liabilities		$ 544,390		$ 544,390
PLC
Notional amount and fair value of the entity's derivative financial instruments
Number of portfolio maintenance agreements | item		2		2
Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		$ 41,895		$ 47,513
Derivatives not designated as hedging instruments | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		64,632		(73,560)
Derivatives not designated as hedging instruments | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(86)		3,558
Derivatives not designated as hedging instruments | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		194		2,073
Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		946,551		946,551
Fair Value, Other long-term investments		2,547		2,547
Notional Amount, Other liabilities		7,727		7,727
Fair Value, Other liabilities		140		140
Derivatives not designated as hedging instruments | Interest rate futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		12,140		(2,091)
Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		297,690		297,690
Fair Value, Other long-term investments		9,806		9,806
Notional Amount, Other liabilities		81,421		81,421
Fair Value, Other liabilities		1,835		1,835
Derivatives not designated as hedging instruments | Equity futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		40,951		3,215
Derivatives not designated as hedging instruments | Equity futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		709		1,016
Derivatives not designated as hedging instruments | Equity futures | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		17		39
Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		239,526		239,526
Fair Value, Other long-term investments		2,608		2,608
Notional Amount, Other liabilities		37,137		37,137
Fair Value, Other liabilities		93		93
Derivatives not designated as hedging instruments | Currency futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		4,000		1,428
Derivatives not designated as hedging instruments | Volatility futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(24)		6
Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		2,833,844		2,833,844
Fair Value, Other long-term investments		192,335		192,335
Notional Amount, Other liabilities		1,242,384		1,242,384
Fair Value, Other liabilities		8,863		8,863
Derivatives not designated as hedging instruments | Equity options | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		33,519		8,195
Derivatives not designated as hedging instruments | Equity options | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(12,099)		(6,499)
Derivatives not designated as hedging instruments | Equity options | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(1,110)		(1,048)
Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		225,000		225,000
Fair Value, Other long-term investments		4,619		4,619
Derivatives not designated as hedging instruments | Interest rate swaptions | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		$ (3,618)		$ (12,399)
Derivatives not designated as hedging instruments | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Positions held | position		0		0
Notional Amount, Other long-term investments		$ 1,325,000		$ 1,325,000
Fair Value, Other long-term investments		82,642		82,642
Notional Amount, Other liabilities		575,000		575,000
Fair Value, Other liabilities		13,809		13,809
Derivatives not designated as hedging instruments | Interest rate swaps | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		101,808		(74,150)
Derivatives not designated as hedging instruments | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments		1,688,779		1,688,779
Fair Value, Other long-term investments		49,048		49,048
Notional Amount, Other liabilities		1,715,488		1,715,488
Fair Value, Other liabilities		63,540		63,540
Derivatives not designated as hedging instruments | Embedded derivative - GMWB | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(71,296)		10,543
Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		1,520,607		1,520,607
Fair Value, Other liabilities		135,605		135,605
Derivatives not designated as hedging instruments | Funds withheld derivative | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(52,872)		(8,301)
Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		962,123		962,123
Fair Value, Other liabilities		76,709		76,709
Derivatives not designated as hedging instruments | Embedded derivative - FIA | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		11,328		9,035
Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities		44,581		44,581
Fair Value, Other liabilities		21,711		21,711
Derivatives not designated as hedging instruments | Embedded derivative - IUL | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		1,287		3,082
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		(9,817)		131,505
Notional Amount, Other long-term investments		64,984		64,984
Fair Value, Other long-term investments		859		859
Notional Amount, Other liabilities		2,490,850		2,490,850
Fair Value, Other liabilities		221,849		221,849
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		(12,978)		(16,096)
Notional Amount, Other long-term investments		1,574,348		1,574,348
Fair Value, Other long-term investments		5,843		5,843
Derivatives not designated as hedging instruments | Other derivatives
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross		(50)		33
Notional Amount, Other long-term investments		1,336		1,336
Fair Value, Other long-term investments		500		500
Notional Amount, Other liabilities		1,091		1,091
Fair Value, Other liabilities		$ 236		$ 236
Cash flow hedges. | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Positions held | position		0		0
Predecessor
Notional amount and fair value of the entity's derivative financial instruments
Number of portfolio maintenance agreements | item							2
Realized investment gains (losses) - derivatives, gross	$ 22,031		$ 41,769		$ (34,425)
Notional Amount, Other long-term investments						$ 7,174,182
Fair Value, Other long-term investments						270,701
Notional Amount, Other liabilities						7,661,143
Fair Value, Other liabilities						629,535
Predecessor | Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	22,031		41,769		(34,425)
Predecessor | Derivatives not designated as hedging instruments | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	75,861		22,005		60,169
Predecessor | Derivatives not designated as hedging instruments | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(1,032)		(1,250)		(2,888)
Predecessor | Derivatives not designated as hedging instruments | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(598)		339		54
Predecessor | Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						27,977
Fair Value, Other long-term investments						938
Predecessor | Derivatives not designated as hedging instruments | Interest rate futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	1,413		1,979		12,777
Predecessor | Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						26,483
Fair Value, Other long-term investments						427
Notional Amount, Other liabilities						385,256
Fair Value, Other liabilities						15,069
Predecessor | Derivatives not designated as hedging instruments | Equity futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	9,221		861		(9,049)
Predecessor | Derivatives not designated as hedging instruments | Equity futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(184)		117		1,067
Predecessor | Derivatives not designated as hedging instruments | Equity futures | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	3		16		16
Predecessor | Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						197,648
Fair Value, Other long-term investments						2,384
Predecessor | Derivatives not designated as hedging instruments | Currency futures | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	7,778		10,185		6,020
Predecessor | Derivatives not designated as hedging instruments | Volatility futures | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross			(4)		4
Predecessor | Derivatives not designated as hedging instruments | Variance swaps | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross			1,570		(1,103)
Predecessor | Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						1,921,167
Fair Value, Other long-term investments						163,212
Notional Amount, Other liabilities						699,295
Fair Value, Other liabilities						47,077
Predecessor | Derivatives not designated as hedging instruments | Equity options | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	3,047		2,050		(31,240)
Predecessor | Derivatives not designated as hedging instruments | Equity options | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(2,617)		1,099		5,077
Predecessor | Derivatives not designated as hedging instruments | Equity options | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(115)		(24)		(24)
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						625,000
Fair Value, Other long-term investments						8,012
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaptions | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	9,268		(2,812)		(17,213)
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						1,550,000
Fair Value, Other long-term investments						50,743
Notional Amount, Other liabilities						275,000
Fair Value, Other liabilities						3,599
Predecessor | Derivatives not designated as hedging instruments | Interest rate swaps | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	122,710		22,011		124,548
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments						1,302,895
Fair Value, Other long-term investments						37,497
Notional Amount, Other liabilities						1,702,899
Fair Value, Other liabilities						63,460
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - GMWB | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(68,503)		(11,407)		(51,869)
Predecessor | Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities						1,233,424
Fair Value, Other liabilities						57,305
Predecessor | Derivatives not designated as hedging instruments | Funds withheld derivative | Annuity account
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(9,073)		(2,432)		27,298
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities						749,933
Fair Value, Other liabilities						124,465
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - FIA | FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	1,769		(2,462)		(9,036)
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities						12,019
Fair Value, Other liabilities						6,691
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - IUL | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(486)		347		62
Predecessor | Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	(68,026)		20,426		(91,945)
Notional Amount, Other long-term investments						25,760
Fair Value, Other long-term investments						1,051
Notional Amount, Other liabilities						2,562,848
Fair Value, Other liabilities						311,727
Predecessor | Derivatives not designated as hedging instruments | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	15,863		398		536
Notional Amount, Other long-term investments						1,497,010
Fair Value, Other long-term investments						6,077
Predecessor | Derivatives not designated as hedging instruments | Other derivatives
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	$ (37)		$ (149)		$ (351)
Notional Amount, Other long-term investments						242
Fair Value, Other long-term investments						360
Predecessor | Cash flow hedges. | Inflation
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities						40,469
Fair Value, Other liabilities						$ 142

DERIVATIVE FINANCIAL INSTRUME77

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Realized investment gains (losses) - all other investments
Modco trading portfolio		$ 8,377		$ (133,524)
Predecessor
Realized investment gains (losses) - all other investments
Modco trading portfolio	$ 73,062		$ (17,225)		$ 110,067

DERIVATIVE FINANCIAL INSTRUME78

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) - Cash flow hedges - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)			$ (131)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)			(131)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)			73
Inflation
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)			(131)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)			(131)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)			$ 73
Predecessor
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	$ 13	$ (64)		$ (90)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(36)	(293)		(1,577)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	(7)	(79)		(205)
Predecessor | Inflation
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	13	(64)		(90)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	(36)	(293)		(1,577)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	$ (7)	$ (79)		$ (205)

OFFSETTING OF ASSETS AND LIAB79

OFFSETTING OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	$ 294,769
Net Amounts of Assets Presented in the Statement of Financial Position	294,769
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	148,469
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	121,347
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement	56,038
Total derivatives
Gross Amounts of Recognized Assets	350,807
Net Amounts of Assets Presented in the Statement of Financial Position	350,807
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	148,469
Total derivatives, Net Amount	177,385
Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	294,769
Net Amounts of Assets Presented in the Statement of Financial Position	294,769
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	148,469
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	121,347
Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	859
Net Amounts of Assets Presented in the Statement of Financial Position	859
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	859
Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	49,048
Net Amounts of Assets Presented in the Statement of Financial Position	49,048
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	49,048
Derivatives with PLC
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	5,843
Net Amounts of Assets Presented in the Statement of Financial Position	5,843
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	5,843
Other
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	288
Net Amounts of Assets Presented in the Statement of Financial Position	288
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	$ 288
Predecessor
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		$ 225,716
Net Amounts of Assets Presented in the Statement of Financial Position		225,716
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		98,169
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement		44,985
Total derivatives
Gross Amounts of Recognized Assets		270,701
Net Amounts of Assets Presented in the Statement of Financial Position		270,701
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Total derivatives, Net Amount		143,154
Predecessor | Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		225,716
Net Amounts of Assets Presented in the Statement of Financial Position		225,716
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received		73,935
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		98,169
Predecessor | Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		1,051
Net Amounts of Assets Presented in the Statement of Financial Position		1,051
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		1,051
Predecessor | Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		37,497
Net Amounts of Assets Presented in the Statement of Financial Position		37,497
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		37,497
Predecessor | Derivatives with PLC
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		6,077
Net Amounts of Assets Presented in the Statement of Financial Position		6,077
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		6,077
Predecessor | Other
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets		360
Net Amounts of Assets Presented in the Statement of Financial Position		360
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		$ 360

OFFSETTING OF ASSETS AND LIAB80

OFFSETTING OF ASSETS AND LIABILITIES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	$ 24,976
Net Amounts of Liabilities Presented in the Statement of Financial Position	24,976
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	23
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement	519,414
Total derivatives
Gross Amounts of Recognized Liabilities	544,390
Net Amounts of Liabilities Presented in the Statement of Financial Position	544,390
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	23
Total derivatives, Net Amount	519,414
Repurchase agreements
Repurchase agreements	455,718
Total Liabilities
Gross Amounts of Recognized Liabilities	1,000,108
Net Amounts of Liabilities Presented in the Statement of Financial Position	1,000,108
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	23
Net Amount	975,132
Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	24,976
Net Amounts of Liabilities Presented in the Statement of Financial Position	24,976
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	24,953
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	23
Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	221,849
Net Amounts of Liabilities Presented in the Statement of Financial Position	221,849
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	221,849
Funds withheld derivative
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	135,605
Net Amounts of Liabilities Presented in the Statement of Financial Position	135,605
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	135,605
Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	63,540
Net Amounts of Liabilities Presented in the Statement of Financial Position	63,540
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	63,540
Embedded derivative - FIA
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	76,709
Net Amounts of Liabilities Presented in the Statement of Financial Position	76,709
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	76,709
Embedded derivative - IUL
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	21,711
Net Amounts of Liabilities Presented in the Statement of Financial Position	21,711
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	$ 21,711
Predecessor
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		$ 65,887
Net Amounts of Liabilities Presented in the Statement of Financial Position		65,887
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid		12,258
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		17
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement		563,648
Total derivatives
Gross Amounts of Recognized Liabilities		629,535
Net Amounts of Liabilities Presented in the Statement of Financial Position		629,535
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid		12,258
Total derivatives, Net Amount		563,665
Repurchase agreements
Repurchase agreements		50,000
Total Liabilities
Gross Amounts of Recognized Liabilities		679,535
Net Amounts of Liabilities Presented in the Statement of Financial Position		679,535
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid		12,258
Net Amount		613,665
Predecessor | Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		65,887
Net Amounts of Liabilities Presented in the Statement of Financial Position		65,887
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments		53,612
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid		12,258
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		17
Predecessor | Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		311,727
Net Amounts of Liabilities Presented in the Statement of Financial Position		311,727
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		311,727
Predecessor | Funds withheld derivative
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		57,305
Net Amounts of Liabilities Presented in the Statement of Financial Position		57,305
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		57,305
Predecessor | Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		63,460
Net Amounts of Liabilities Presented in the Statement of Financial Position		63,460
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		63,460
Predecessor | Embedded derivative - FIA
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		124,465
Net Amounts of Liabilities Presented in the Statement of Financial Position		124,465
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		124,465
Predecessor | Embedded derivative - IUL
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities		6,691
Net Amounts of Liabilities Presented in the Statement of Financial Position		6,691
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount		$ 6,691

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Feb. 01, 2015	Dec. 31, 2014
Summarized financial information for the company's segments
Revenues		$ 1,006,671		$ 2,510,585
Segment Operating Income (Loss)		97,507		226,948
Realized investment (losses) gains - investments		8,586		(150,063)
Realized investment (losses) gains - derivatives		50,028		68,205
Income tax benefit (expense)		(42,542)		(40,667)
Net income (loss)		113,579		104,423
Realized gain (losses) on investments
Investment gains (losses)		(4,755)		(147,892)
Less: amortization related to DAC/VOBA and benefits and settlement expenses		(13,341)		2,171
Realized investment gains (losses) - investments		8,586		(150,063)
Realized gain (losses) on derivatives
Derivative gains (losses)		41,895		47,513
Less: VA GMWB economic cost		(8,133)		(20,692)
Realized investment gains (losses) - derivatives		50,028		68,205
Other-than-temporary impairments		10,064		15,798
Operating Segment Assets
Investments and other assets		65,366,820		65,366,820
Deferred policy acquisition costs and value of business acquired		1,469,723		1,469,723
Other intangibles		655,459		655,459
Goodwill		735,712		735,712		$ 735,700
Total assets		68,227,714		68,227,714
Operating | Life Marketing
Summarized financial information for the company's segments
Revenues		358,194		960,807
Segment Operating Income (Loss)		18,758		28,711
Operating Segment Assets
Investments and other assets		13,223,607		13,223,607
Deferred policy acquisition costs and value of business acquired		1,078,408		1,078,408
Other intangibles		324,362		324,362
Goodwill		203,543		203,543
Total assets		14,829,920		14,829,920
Operating | Acquisitions
Summarized financial information for the company's segments
Revenues		352,141		974,915
Segment Operating Income (Loss)		59,016		132,962
Operating Segment Assets
Investments and other assets		20,014,577		20,014,577
Deferred policy acquisition costs and value of business acquired		(182,038)		(182,038)
Other intangibles		40,297		40,297
Goodwill		14,524		14,524
Total assets		19,887,360		19,887,360
Operating | Annuities
Summarized financial information for the company's segments
Revenues		200,798		293,610
Segment Operating Income (Loss)		37,090		108,976
Operating Segment Assets
Investments and other assets		19,565,914		19,565,914
Deferred policy acquisition costs and value of business acquired		531,735		531,735
Other intangibles		200,112		200,112
Goodwill		336,677		336,677
Total assets		20,634,438		20,634,438
Operating | Stable Value Products
Summarized financial information for the company's segments
Revenues		17,065		44,063
Segment Operating Income (Loss)		12,785		28,249
Operating Segment Assets
Investments and other assets		1,790,724		1,790,724
Other intangibles		9,556		9,556
Goodwill		113,813		113,813
Total assets		1,914,093		1,914,093
Operating | Asset Protection
Summarized financial information for the company's segments
Revenues		77,476		204,397
Segment Operating Income (Loss)		4,415		12,938
Operating Segment Assets
Investments and other assets		788,749		788,749
Deferred policy acquisition costs and value of business acquired		41,618		41,618
Other intangibles		81,132		81,132
Goodwill		67,155		67,155
Total assets		978,654		978,654
Operating | Corporate and Other
Summarized financial information for the company's segments
Revenues		997		32,793
Segment Operating Income (Loss)		(34,557)		(84,888)
Operating Segment Assets
Investments and other assets		9,972,530		9,972,530
Total assets		9,972,530		9,972,530
Adjustments
Operating Segment Assets
Investments and other assets		10,719		10,719
Total assets		$ 10,719		$ 10,719
Predecessor
Summarized financial information for the company's segments
Revenues	$ 459,646		$ 1,116,760		$ 3,345,295
Segment Operating Income (Loss)	19,000		147,641		411,230
Realized investment (losses) gains - investments	89,414		(11,903)		112,769
Realized investment (losses) gains - derivatives	24,433		48,382		(15,653)
Income tax benefit (expense)	(44,325)		(62,287)		(167,921)
Net income (loss)	88,522		121,833		340,425
Realized gain (losses) on investments
Investment gains (losses)	80,672		(2,470)		147,091
Less: amortization related to DAC/VOBA and benefits and settlement expenses	(8,742)		9,433		34,322
Realized investment gains (losses) - investments	89,414		(11,903)		112,769
Realized gain (losses) on derivatives
Derivative gains (losses)	22,031		41,769		(34,425)
Less: VA GMWB economic cost	(2,402)		(6,613)		(18,772)
Realized investment gains (losses) - derivatives	24,433		48,382		(15,653)
Other-than-temporary impairments	481		2,354		5,405
Operating Segment Assets
Investments and other assets							$ 66,759,495
Deferred policy acquisition costs and value of business acquired							3,155,046
Goodwill							77,577
Total assets							69,992,118
Predecessor | Operating | Life Marketing
Summarized financial information for the company's segments
Revenues	133,361		368,479		1,098,015
Segment Operating Income (Loss)	(2,271)		31,571		79,471
Operating Segment Assets
Investments and other assets							13,858,491
Deferred policy acquisition costs and value of business acquired							1,973,156
Total assets							15,831,647
Predecessor | Operating | Acquisitions
Summarized financial information for the company's segments
Revenues	139,761		408,522		1,273,714
Segment Operating Income (Loss)	20,134		72,929		198,807
Operating Segment Assets
Investments and other assets							19,858,284
Deferred policy acquisition costs and value of business acquired							600,482
Goodwill							29,419
Total assets							20,488,185
Predecessor | Operating | Annuities
Summarized financial information for the company's segments
Revenues	130,918		200,366		582,645
Segment Operating Income (Loss)	11,363		42,659		136,590
Operating Segment Assets
Investments and other assets							20,678,948
Deferred policy acquisition costs and value of business acquired							539,965
Total assets							21,218,913
Predecessor | Operating | Stable Value Products
Summarized financial information for the company's segments
Revenues	8,181		38,719		93,696
Segment Operating Income (Loss)	4,529		19,506		54,190
Operating Segment Assets
Investments and other assets							1,958,867
Deferred policy acquisition costs and value of business acquired							621
Total assets							1,959,488
Predecessor | Operating | Asset Protection
Summarized financial information for the company's segments
Revenues	24,566		77,277		227,244
Segment Operating Income (Loss)	1,907		6,962		18,535
Operating Segment Assets
Investments and other assets							832,887
Deferred policy acquisition costs and value of business acquired							40,503
Goodwill							48,158
Total assets							921,548
Predecessor | Operating | Corporate and Other
Summarized financial information for the company's segments
Revenues	22,859		23,397		69,981
Segment Operating Income (Loss)	$ (16,662)		$ (25,986)		$ (76,363)
Operating Segment Assets
Investments and other assets							9,557,226
Deferred policy acquisition costs and value of business acquired							319
Total assets							9,557,545
Predecessor | Adjustments
Operating Segment Assets
Investments and other assets							14,792
Total assets							$ 14,792