Globe Life (GL) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	TORCHMARK CORP
Entity Central Index Key	0000320335
Trading Symbol	TMK
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		109,940,525

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2019—$15,988,228; 2018—$15,753,471)	$ 17,223,585	$ 16,297,932
Policy loans	555,456	550,066
Other long-term investments (includes: 2019—$118,556; 2018—$108,241 under the fair value option)	231,934	207,258
Short-term investments	125,759	63,288
Total investments	18,136,734	17,118,544
Cash	67,342	121,026
Accrued investment income	255,148	243,003
Other receivables	419,610	415,157
Deferred acquisition costs	4,185,231	4,137,925
Goodwill	441,591	441,591
Other assets	559,225	549,899
Assets related to discontinued operations	68,557	68,577
Total assets	24,133,438	23,095,722
Liabilities:
Future policy benefits	14,084,082	13,953,826
Unearned and advance premiums	66,924	61,208
Policy claims and other benefits payable	357,294	350,826
Other policyholders' funds	96,986	97,459
Total policy liabilities	14,605,286	14,463,319
Current and deferred income taxes payable	1,225,497	1,047,737
Other liabilities	557,824	453,270
Short-term debt	294,378	307,848
Long-term debt (estimated fair value: 2019—$1,458,751; 2018—$1,384,455)	1,355,601	1,357,185
Liabilities related to discontinued operations	51,426	51,186
Total liabilities	18,090,012	17,680,545
Commitments and Contingencies (Note 5)
Shareholders’ equity:
Preferred stock, par value $1 per share—5,000,000 shares authorized; outstanding: 0 in 2019 and 2018	0	0
Common stock, par value $1 per share—320,000,000 shares authorized; outstanding: (2019—121,218,183 issued; 2018—121,218,183 issued)	121,218	121,218
Additional paid-in capital	518,529	524,414
Accumulated other comprehensive income (loss)	870,067	319,475
Retained earnings	5,364,820	5,213,468
Treasury stock, at cost: (2019—11,292,000 shares; 2018—10,525,147 shares)	(831,208)	(763,398)
Total shareholders’ equity	6,043,426	5,415,177
Total liabilities and shareholders’ equity	$ 24,133,438	$ 23,095,722

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fixed maturities, available for sale, amortized cost	$ 15,988,228	$ 15,753,471
Long-term debt, fair value	$ 1,458,751	$ 1,384,455
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	121,218,183	121,218,183
Common stock, shares outstanding (in shares)	121,218,183	121,218,183
Common stock, shares held in treasury (in shares)	11,292,000	10,525,147
Fair Value Option [Member]
Fair value option	$ 118,556	$ 108,241
Partnership Interest [Member] | Fair Value Option [Member]
Fair value option	$ 118,556	$ 108,241

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Total premium	$ 890,973	$ 850,106
Net investment income	226,673	218,084
Realized gains (losses)	1,329	1,951
Other income	241	295
Total revenue	1,119,216	1,070,436
Benefits and expenses:
Life policyholder benefits	409,692	400,581
Health policyholder benefits	170,017	160,619
Other policyholder benefits	8,048	8,689
Total policyholder benefits	587,757	569,889
Amortization of deferred acquisition costs	135,822	129,620
Commissions, premium taxes, and non-deferred acquisition costs	73,465	69,639
Other operating expense	72,793	66,824
Interest expense	21,278	21,622
Total benefits and expenses	891,115	857,594
Income before income taxes	228,101	212,842
Income tax benefit (expense)	(42,707)	(39,131)
Income from continuing operations	185,394	173,711
Income (loss) from discontinued operations, net of tax	(49)	(111)
Net income	$ 185,345	$ 173,600
Basic net income (loss) per common share:
Continuing operations (in dollars per share)	$ 1.68	$ 1.52
Discontinued operations (in dollars per share)	0	0
Basic net income per common share (in dollars per share)	1.68	1.52
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	1.65	1.49
Discontinued operations (in dollars per share)	0	0
Diluted net income per common share (in dollars per share)	$ 1.65	$ 1.49
Life premium [Member]
Revenue:
Total premium	$ 624,289	$ 598,303
Health premium [Member]
Revenue:
Total premium	266,684	251,798
Other premium [Member]
Revenue:
Total premium	$ 0	$ 5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 185,345	$ 173,600
Investments:
Total unrealized investment gains (losses)	694,939	(615,682)
Less applicable tax (expense) benefit	(145,936)	129,289
Unrealized investment gains (losses), net of tax	549,003	(486,393)
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	(3,199)	450
Less applicable tax (expense) benefit	671	(94)
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	(2,528)	356
Foreign exchange translation:
Foreign exchange translation adjustments, other than fixed maturities	3,089	(1,299)
Less applicable tax (expense) benefit	(647)	276
Foreign exchange translation adjustments, other than fixed maturities, net of tax	2,442	(1,023)
Pension:
Amortization of pension costs	2,120	3,778
Less applicable tax (expense) benefit	(445)	(793)
Pension adjustments, net of tax	1,675	2,985
Other comprehensive income (loss)	550,592	(484,075)
Comprehensive income (loss)	735,937	(310,475)
Securities [Member]
Investments:
Unrealized holding gains (losses) arising during period	693,482	(611,548)
Reclassification adjustments included in net income	(2,444)	(696)
Foreign exchange adjustment on fixed maturities recorded at fair value	(142)	(585)
Unrealized gains (losses) on fixed maturities	690,896	(612,829)
Other Investments [Member]
Investments:
Unrealized gains (losses) on other investments	$ 4,043	$ (2,853)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Stockholders' equity, beginning balance at Dec. 31, 2017	$ 6,231,421	$ 0	$ 124,218	$ 508,476	$ 1,424,274	$ 4,806,208	$ (631,755)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(310,475)				(484,075)	173,600
Common dividends declared ($0.1600 in 2018 and $0.1725 in 2019)	(18,216)					(18,216)
Acquisition of treasury stock	(109,954)						(109,954)
Stock-based compensation	9,060			465		(1,803)	10,398
Exercise of stock options	13,569					(9,077)	22,646
Stockholders' equity, ending balance at Mar. 31, 2018	5,820,301	0	124,218	508,941	940,199	4,955,608	(708,665)
Stockholders' equity, beginning balance at Dec. 31, 2018	5,415,177	0	121,218	524,414	319,475	5,213,468	(763,398)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	735,937				550,592	185,345
Common dividends declared ($0.1600 in 2018 and $0.1725 in 2019)	(18,943)					(18,943)
Acquisition of treasury stock	(110,896)						(110,896)
Stock-based compensation	10,559			(5,885)		(6,817)	23,261
Exercise of stock options	12,089					(7,736)	19,825
Stockholders' equity, ending balance at Mar. 31, 2019	$ 6,043,426	$ 0	$ 121,218	$ 518,529	$ 870,067	$ 5,364,820	$ (831,208)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.1725	$ 0.16

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Cash provided from operating activities	$ 423,285	$ 382,389
Disposition of investments:
Fixed maturities available for sale—sold	34,997	0
Fixed maturities available for sale—matured or other redemptions	188,253	74,019
Total investments disposed	223,250	74,019
Acquisition of investments:
Fixed maturities—available for sale	(421,111)	(358,753)
Other long-term investments	(22,971)	(53,853)
Total investments acquired	(444,082)	(412,606)
Net (increase) decrease in policy loans	(5,390)	(2,854)
Net (increase) decrease in short-term investments	(62,471)	47,048
Additions to properties	(7,015)	(11,966)
Investment in low-income housing interests	(10,054)	(7,518)
Cash provided from (used for) investing activities	(305,762)	(313,877)
Cash provided from (used for) financing activities:
Issuance of common stock	11,592	13,569
Cash dividends paid to shareholders	(17,696)	(17,194)
Repayment of debt	(1,250)	(625)
Net borrowing (repayment) of commercial paper	(14,095)	36,464
Acquisition of treasury stock	(110,896)	(109,954)
Net receipts (payments) from deposit-type product	(37,136)	(25,603)
Cash provided from (used for) financing activities	(169,481)	(103,343)
Effect of foreign exchange rate changes on cash	(1,726)	4,883
Net increase (decrease) in cash	(53,684)	(29,948)
Cash at beginning of year	121,026	118,563
Cash at end of period	$ 67,342	$ 88,615

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation: The accompanying condensed consolidated financial statements of Torchmark Corporation (Torchmark or alternatively, the Company) have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the disclosures required by accounting principles generally accepted in the United States of America (GAAP) for annual financial statements. However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at March 31, 2019 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2019 and 2018 . The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on March 1, 2019.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards Accounting Pronouncements Adopted in the Current Year Standard Description Effective date Effect on the consolidated financial statements ASU No. 2016-02/2018-11 , Leases (Topic 842), with clarification guidance issued in July 2018. The standard requires lessees to record a right-of-use asset and corresponding lease liability on the balance sheet for all operating leases that do not qualify for the practical expedients allowed for in this standard. Additional qualitative and quantitative disclosures are required. This standard became effective for the Company beginning January 1, 2019. The Company adopted the optional transition method allowed for under ASU 2018-11 by not restating comparative periods and recognizing an immaterial cumulative-effect adjustment to the opening balance of retained earnings on January 1, 2019. The Company does not have any significant lessor contracts. The adoption did not have a material impact on the consolidated financial statements. ASU No. 2017-08 , Receivables—Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard was issued to shorten the amortization period for certain callable debt securities held at a premium. The standard requires the premium to be amortized to the earliest call date. This standard became effective for the Company beginning January 1, 2019. This adoption did not have a material impact on the consolidated financial statements as of March 31, 2019. Accounting Pronouncements Yet to be Adopted Standard Description Effective date Effect on the consolidated financial statements ASU No. 2016-13/2019-04 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard provides financial statement users with more decision-useful information about the expected credit losses on financial instruments as well as to change the loss impairment methodology for available-for-sale debt securities by use of an allowance rather than a direct write-down. This standard will become effective on January 1, 2020. The applicable section of the standard related to debt securities requires a prospective transition. The Company is in the process of determining the impact this guidance will have on the consolidated financial statements. Standard Description Effective date Effect on the consolidated financial statements ASU No. 2018-12 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts The guidance was primarily issued to 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. This standard is effective beginning January 1, 2021, and should be applied on a retrospective basis. Early adoption of the amendments is permitted. ASU 2018-12 will require changes to the Company's actuarial systems and data inputs related to the valuation of the future policy benefits. Additionally, it will significantly expand the Company's disclosures. The Company is in the process of evaluating the impact this guidance will have on the consolidated financial statements. ASU No. 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement The amendment modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The revised standard is effective beginning January 1, 2020. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. ASU No. 2018-15 , Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract The standard was issued to align the accounting for implementation costs of hosting arrangements, regardless of whether they convey a license to the hosted software. Accordingly, the standard requires the capitalization of implementation costs incurred in a hosting arrangement that is a service contract, similar to the treatment for developed or obtained internal-use software. The standard is effective beginning January 1, 2020, and the Company plans to apply the standards on a prospective basis. Early adoption of the amendments is also permitted. The Company is in the process of determining the impact this guidance will have on the consolidated financial statements.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Supplemental Information about Changes to Accumulated Other Comprehensive Income	Supplemental Information about Changes to Accumulated Other Comprehensive Income An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three month periods ended March 31, 2019 and 2018 . Components of Accumulated Other Comprehensive Income Three Months Ended March 31, 2018 Available Deferred Foreign Pension Total Balance at January 1, 2018 $ 1,569,289 $ (8,547 ) $ 16,302 $ (152,770 ) $ 1,424,274 Other comprehensive income (loss) before reclassifications, net of tax (485,843 ) 356 (1,023 ) — (486,510 ) Reclassifications, net of tax (550 ) — — 2,985 2,435 Other comprehensive income (loss) (486,393 ) 356 (1,023 ) 2,985 (484,075 ) Balance at March 31, 2018 $ 1,082,896 $ (8,191 ) $ 15,279 $ (149,785 ) $ 940,199 Three Months Ended March 31, 2019 Available Deferred Foreign Pension Total Balance at January 1, 2019 $ 435,698 $ (4,163 ) $ 6,495 $ (118,555 ) $ 319,475 Other comprehensive income (loss) before reclassifications, net of tax 550,934 (2,528 ) 2,442 — 550,848 Reclassifications, net of tax (1,931 ) — — 1,675 (256 ) Other comprehensive income (loss) 549,003 (2,528 ) 2,442 1,675 550,592 Balance at March 31, 2019 $ 984,701 $ (6,691 ) $ 8,937 $ (116,880 ) $ 870,067 Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2019 and 2018 . Reclassification Adjustments Three Months Ended Affected line items in the Statement of Operations Component Line Item 2019 2018 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (3,670 ) $ (1,386 ) Realized investment gains (losses) Amortization of (discount) premium 1,226 690 Net investment income Total before tax (2,444 ) (696 ) Tax 513 146 Income taxes Total after-tax (1,931 ) (550 ) Pension adjustments: Amortization of prior service cost 158 119 Other operating expense Amortization of actuarial gain (loss) 1,962 3,659 Other operating expense Total before tax 2,120 3,778 Tax (445 ) (793 ) Income taxes Total after-tax 1,675 2,985 Total reclassifications (after-tax) $ (256 ) $ 2,435

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Portfolio Composition : Summaries of fixed maturities available for sale by cost or amortized cost and estimated fair value at March 31, 2019 and December 31, 2018 are shown below. March 31, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,947 $ 16,443 $ (1,034 ) $ 406,356 2 States, municipalities, and political subdivisions 1,426,461 113,371 (174 ) 1,539,658 9 Foreign governments 19,402 2,222 — 21,624 — Corporates, by sector: Financial 3,864,828 387,731 (44,465 ) 4,208,094 24 Utilities 1,984,792 279,830 (9,690 ) 2,254,932 13 Energy 1,645,409 172,802 (27,409 ) 1,790,802 10 Other corporate sectors 6,452,950 438,527 (115,784 ) 6,775,693 40 Total corporates 13,947,979 1,278,890 (197,348 ) 15,029,521 87 Collateralized debt obligations 57,473 25,664 (5,888 ) 77,249 1 Other asset-backed securities 145,966 3,577 (366 ) 149,177 1 Total fixed maturities $ 15,988,228 $ 1,440,167 $ (204,810 ) $ 17,223,585 100 (1) Amounts reported on the balance sheet. (2) At fair value. December 31, 2018 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,351 $ 5,104 $ (2,787 ) $ 392,668 2 States, municipalities, and political subdivisions 1,354,810 83,600 (1,750 ) 1,436,660 9 Foreign governments 19,006 1,810 — 20,816 — Corporates, by sector: Financial 3,759,768 262,875 (87,515 ) 3,935,128 24 Utilities 1,989,506 217,846 (24,399 ) 2,182,953 13 Energy 1,652,700 93,880 (62,371 ) 1,684,209 10 Other corporate sectors 6,382,707 283,524 (242,509 ) 6,423,722 40 Total corporates 13,784,681 858,125 (416,794 ) 14,226,012 87 Collateralized debt obligations 57,769 22,014 (6,414 ) 73,369 1 Other asset-backed securities 146,854 2,187 (634 ) 148,407 1 Total fixed maturities $ 15,753,471 $ 972,840 $ (428,379 ) $ 16,297,932 100 (1) Amounts reported on the balance sheet. (2) At fair value. A schedule of fixed maturities available for sale by contractual maturity date at March 31, 2019 is shown below on an amortized cost basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. March 31, 2019 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 204,444 $ 206,980 Due after one year through five years 611,042 643,173 Due after five years through ten years 1,643,633 1,814,976 Due after ten years through twenty years 5,210,071 5,843,176 Due after twenty years 8,114,988 8,488,204 Mortgage-backed and asset-backed securities 204,050 227,076 $ 15,988,228 $ 17,223,585 Analysis of Investment Operations : Net investment income for the three months ended March 31, 2019 and 2018 is summarized as follows: Three Months Ended 2019 2018 Fixed maturities available for sale $ 215,763 $ 208,542 Policy loans 10,636 10,198 Other long-term investments 3,388 2,854 Short-term investments 819 391 230,606 221,985 Less investment expense (3,933 ) (3,901 ) Net investment income $ 226,673 $ 218,084 Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended 2019 2018 Fixed maturities available for sale: Proceeds from sales $ 34,997 $ — Gross realized gains 46 — Gross realized losses (3,027 ) — An analysis of realized gains (losses) is as follows: Three Months Ended 2019 2018 Realized investment gains (losses): Fixed maturities available for sale: Sales and other $ 3,670 $ 1,386 Fair value option—change in fair value (2,185 ) 560 Other investments (156 ) 5 Realized gains (losses) from investments 1,329 1,951 Applicable tax (279 ) (410 ) Realized gains (losses), net of tax $ 1,050 $ 1,541 Fair Value Measurements : The following tables represent the fair value of fixed maturities available for sale measured on a recurring basis at March 31, 2019 and December 31, 2018 . Fair Value Measurements at March 31, 2019 using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 406,356 $ — $ 406,356 States, municipalities, and political subdivisions — 1,539,658 — 1,539,658 Foreign governments — 21,624 — 21,624 Corporates, by sector: Financial — 4,163,932 44,162 4,208,094 Utilities 5,100 2,098,883 150,949 2,254,932 Energy — 1,750,336 40,466 1,790,802 Other corporate sectors — 6,448,950 326,743 6,775,693 Total corporates 5,100 14,462,101 562,320 15,029,521 Collateralized debt obligations — — 77,249 77,249 Other asset-backed securities — 136,023 13,154 149,177 Total fixed maturities $ 5,100 $ 16,565,762 $ 652,723 $ 17,223,585 Percentage of total — % 96.2 % 3.8 % 100.0 % Fair Value Measurements at December 31, 2018 using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 392,668 $ — $ 392,668 States, municipalities, and political subdivisions — 1,436,660 — 1,436,660 Foreign governments — 20,816 — 20,816 Corporates, by sector: Financial — 3,891,728 43,400 3,935,128 Utilities — 2,032,127 150,826 2,182,953 Energy — 1,645,077 39,132 1,684,209 Other corporate sectors — 6,103,609 320,113 6,423,722 Total corporates — 13,672,541 553,471 14,226,012 Collateralized debt obligations — — 73,369 73,369 Other asset-backed securities — 135,425 12,982 148,407 Total fixed maturities $ — $ 15,658,110 $ 639,822 $ 16,297,932 Percentage of total — % 96.1 % 3.9 % 100.0 % The following tables represent an analysis of changes in fair value measurements using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2019 Asset- Collateralized Corporates (1) Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income 298 4,176 10,663 15,137 Acquisitions — — — — Sales — — — — Amortization — 1,162 3 1,165 Other (2) (126 ) (1,458 ) (1,817 ) (3,401 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2019 $ 13,154 $ 77,249 $ 562,320 $ 652,723 Percent of total fixed maturities 0.1 % 0.4 % 3.3 % 3.8 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. Three Months Ended March 31, 2018 Asset- Collateralized Corporates (1) Total Balance at January 1, 2018 $ 14,049 $ 71,581 $ 582,810 $ 668,440 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income (749 ) 4,621 (12,233 ) (8,361 ) Acquisitions — — — — Sales — — — — Amortization — 1,201 4 1,205 Other (2) (113 ) (1,879 ) (1,781 ) (3,773 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2018 $ 13,187 $ 75,524 $ 568,800 $ 657,511 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. The following table presents transfers in and out of each of the valuation levels of fair values. Three Months Ended March 31, 2019 2018 In Out Net In Out Net Level 1 $ 5,100 $ — $ 5,100 $ — $ — $ — Level 2 — (5,100 ) (5,100 ) — — — Level 3 — — — — — — Other investment information : Other long-term investments consist of the following: March 31, 2019 December 31, 2018 Investment in limited partnerships (1) $ 118,556 $ 108,241 Commercial mortgage loan participations (2) 110,209 96,266 Other 3,169 2,751 Total other long-term investments $ 231,934 $ 207,258 (1) See the following section for more information regarding the fair value option method used to account for these investments. (2) Torchmark invests in a portfolio of commercial mortgage loan participations. As of March 31, 2019 and December 31, 2018 , the Company evaluated the portfolio on a loan-by-loan basis to determine any allowance for loss. Factors considered include, but are not limited to, collateral value, loan-to-value ratio, debt service coverage ratio, local market conditions, credit quality of the borrower and tenants, and loan performance. There were no material changes to the property type, geographic location, or loan-to-value ratio for any of the loans during the quarter. As of March 31, 2019 and December 31, 2018 , there was no allowance for loss. Fair Value Option : The following table represents the fair value of certain limited partnership investments elected for the fair value option method measured on a recurring basis at March 31, 2019 , and the changes in fair value for the three months ended March 31, 2019 . All changes in fair value are recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations . Distributions received on a periodic basis are recorded in Net Investment Income. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value Fair Value Measurements at: March 31, 2019 $ — $ 118,556 $ — $ 118,556 December 31, 2018 — 108,241 — 108,241 Changes in Fair Values for the Period for Items Measured at Fair Value Pursuant to Election of the Fair Value Option Net Gains and Losses Recognized During the Period Less Net Gains and Losses Recognized due to Sales Total Changes in Fair Values Included in Current-Period Earnings Three Months Ended March 31, 2019 $ (2,185 ) $ — $ (2,185 ) 2018 560 — 560 Other-Than-Temporary Impairments : In accordance with the other-than-temporary impairment (OTTI) policy, the Company evaluated its fixed maturities available for sale in an unrealized loss position to determine if there was any impairment for the quarter. Gross unrealized losses may fluctuate quarter over quarter due to adverse factors in the market that affect our holdings, such as changes in the interest rates or credit spreads. While the Company holds securities that may be in an unrealized loss position from time to time, Torchmark has the ability and intent to hold these investments to recovery. Additionally, Torchmark does not expect to be required to sell any of its securities due to the strong cash flows generated by its insurance operations. For the three months ended March 31, 2019 and 2018 , the Company concluded that there were no other-than-temporary impairments. Unrealized Loss Analysis : The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Total Number of issues (CUSIP numbers) held: As of March 31, 2019 83 311 394 As of December 31, 2018 495 234 729 Torchmark’s entire fixed maturity portfolio consisted of 1,598 issues at March 31, 2019 and 1,548 issues at December 31, 2018 . The weighted average quality rating of all unrealized loss positions as of March 31, 2019 was BBB compared with BBB+ as of December 31, 2018 . The following tables disclose unrealized investment losses by class and major sector of fixed maturities available for sale at March 31, 2019 and December 31, 2018 , respectively. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At March 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Value Unrealized Loss Fair Unrealized Loss Fair Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 6 $ — $ 61,709 $ (1,034 ) $ 61,715 $ (1,034 ) States, municipalities and political subdivisions 14,974 (26 ) 1,056 (5 ) 16,030 (31 ) Corporates, by sector: Financial 69,791 (1,004 ) 388,946 (15,440 ) 458,737 (16,444 ) Utilities 2,023 (2 ) 177,061 (5,553 ) 179,084 (5,555 ) Energy 48,948 (693 ) 145,645 (7,662 ) 194,593 (8,355 ) Other corporate sectors 392,572 (12,612 ) 1,560,588 (82,520 ) 1,953,160 (95,132 ) Total corporates 513,334 (14,311 ) 2,272,240 (111,175 ) 2,785,574 (125,486 ) Other asset-backed securities 98 — 4,463 (23 ) 4,561 (23 ) Total investment grade securities 528,412 (14,337 ) 2,339,468 (112,237 ) 2,867,880 (126,574 ) Below investment grade securities: States, municipalities and political subdivisions 85 (143 ) — — 85 (143 ) Corporates, by sector: Financial — — 104,759 (28,021 ) 104,759 (28,021 ) Utilities — — 12,648 (4,135 ) 12,648 (4,135 ) Energy 11,207 (589 ) 47,260 (18,465 ) 58,467 (19,054 ) Other corporate sectors 35,189 (2,153 ) 94,367 (18,499 ) 129,556 (20,652 ) Total corporates 46,396 (2,742 ) 259,034 (69,120 ) 305,430 (71,862 ) Collateralized debt obligations — — 14,112 (5,888 ) 14,112 (5,888 ) Other asset-backed securities 14,132 (343 ) — — 14,132 (343 ) Total below investment grade securities 60,613 (3,228 ) 273,146 (75,008 ) 333,759 (78,236 ) Total fixed maturities $ 589,025 $ (17,565 ) $ 2,612,614 $ (187,245 ) $ 3,201,639 $ (204,810 ) Analysis of Gross Unrealized Investment Losses At December 31, 2018 Less than Twelve Months Twelve Months or Longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 37,182 $ (212 ) $ 89,664 $ (2,575 ) $ 126,846 $ (2,787 ) States, municipalities and political subdivisions 124,907 (1,648 ) 7,981 (102 ) 132,888 (1,750 ) Corporates, by sector: Financial 931,161 (36,337 ) 241,442 (21,572 ) 1,172,603 (57,909 ) Utilities 329,753 (11,680 ) 121,308 (9,442 ) 451,061 (21,122 ) Energy 475,736 (29,426 ) 54,937 (9,382 ) 530,673 (38,808 ) Other corporate sectors 2,515,541 (149,168 ) 575,796 (62,994 ) 3,091,337 (212,162 ) Total corporates 4,252,191 (226,611 ) 993,483 (103,390 ) 5,245,674 (330,001 ) Other asset-backed securities 44,603 (634 ) — — 44,603 (634 ) Total investment grade securities 4,458,883 (229,105 ) 1,091,128 (106,067 ) 5,550,011 (335,172 ) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 22,087 (8,674 ) 81,101 (20,932 ) 103,188 (29,606 ) Utilities 28,613 (3,277 ) — — 28,613 (3,277 ) Energy 42,874 (3,901 ) 36,122 (19,662 ) 78,996 (23,563 ) Other corporate sectors 146,373 (7,235 ) 69,053 (23,112 ) 215,426 (30,347 ) Total corporates 239,947 (23,087 ) 186,276 (63,706 ) 426,223 (86,793 ) Collateralized debt obligations — — 13,586 (6,414 ) 13,586 (6,414 ) Other asset-backed securities — — — — — — Total below investment grade securities 239,947 (23,087 ) 199,862 (70,120 ) 439,809 (93,207 ) Total fixed maturities $ 4,698,830 $ (252,192 ) $ 1,290,990 $ (176,187 ) $ 5,989,820 $ (428,379 )

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation : Torchmark and its subsidiaries, in common with the insurance industry in general, are subject to litigation, including putative class action litigation, alleged breaches of contract, torts, including bad faith and fraud claims based on alleged wrongful or fraudulent acts of agents of Torchmark’s subsidiaries, employment discrimination, and miscellaneous other causes of action. Based upon information presently available, and in light of legal and other factual defenses available to Torchmark and its subsidiaries, management does not believe that it is reasonably possible that such litigation will have a material adverse effect on Torchmark’s financial condition, future operating results or liquidity; however, assessing the eventual outcome of litigation necessarily involves forward-looking speculation as to judgments to be made by judges, juries and appellate courts in the future. This bespeaks caution, particularly in states with reputations for high punitive damage verdicts. Torchmark’s management recognizes that large punitive damage awards bearing little or no relation to actual damages continue to be awarded by juries in jurisdictions in which Torchmark and its subsidiaries have substantial business, creating the potential for unpredictable material adverse judgments in any given punitive damage suit. On September 12, 2018, putative class action litigation was filed against American Income Life Insurance Company in California’s Contra Costa County Superior Court ( Joh v. American Income Life Insurance Company , Case No. C18-01863). An amended complaint was filed on October 18, 2018. American Income removed the case to the United States District Court for the Northern District of California (Case No. 3:18-cv-06364-TSH). The plaintiff, a former insurance sales agent of American Income, is suing on behalf of all current and former sales agents who sold insurance for American Income in the state of California for the four years prior to the filing of the complaint. The amended complaint alleges that such individuals are employees and asserts claims under the California Labor Code, California Business and Professions Code, and California Private Attorney General Act. The complaint seeks compensatory damages, penalties and attorney fees on claims for failure to pay wages/commissions, failure to appropriately pay agents at termination, failure to provide itemized wage statements, failure to reimburse expenses and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. On October 18, 2018, putative class action litigation was filed against Torchmark Corporation and American Income Life Insurance Company in California’s Los Angeles County Superior Court ( Golz v. American Income Life Insurance Company , et al Case No. 18STCV01354). American Income removed the case to the United States District Court for the Central District of California (Case No. 2:18-cv-09879 R (SSx)). An amended complaint was filed on February 5, 2019. The amended complaint alleges that the putative class members are employees and asserts claims under the California Labor Code and California Business and Professions Code. The complaint alleges that plaintiff was an American Income insurance agent trainee in California who seeks to represent a class of individuals in California whom American Income classified as independently contracted agent trainees. The class period is alleged to begin four years prior to the complaint’s filing. The complaint seeks compensatory damages, penalties, and attorney fees on claims for failure to pay minimum wage and overtime, failure to provide meal and rest breaks, failure to appropriately pay wages at termination, failure to provide itemized wage statements, failure to reimburse business expenses, and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. On December 14, 2018, putative class action litigation was filed against American Income Life Insurance Company in United States District Court for the Northern District of California ( Hamilton v. American Income Life Insurance Company , Case No. 4:18-cv-7535-KAW). An amended complaint was filed on January 23, 2019. The plaintiffs, former insurance sales agents of American Income, are suing on behalf of all current and former sales agents who sold insurance for American Income in the state of California for the last four years prior to the filing of the complaint. The lawsuit alleges that putative class members are employees and asserts claims under the California Labor Code, California Business and Professions Code, and California Private Attorney General Act. The complaint seeks compensatory damages, penalties and attorney fees on claims for failure to pay minimum wage and overtime, failure to provide meal and rest breaks, failure to appropriately pay agents at termination, failure to provide itemized wage statements, failure to reimburse expenses, and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. On January 16, 2019, putative class action litigation was filed against American Income Life Insurance Company in Orange County, California Superior Court ( Putros v. American Income Life Insurance Company , Case No. 30-2019-01044772-CU-OE-CXC). The plaintiff, a former insurance sales agent of American Income, is suing on behalf of all current and former sales agents who sold insurance for American Income in the state of California for the last four years prior to the filing of the complaint. The lawsuit alleges that putative class members are employees and asserts claims under the California Labor Code, California Business and Professions Code, and California Private Attorney General Act. The complaint seeks compensatory damages, penalties and attorney fees on claims for failure to pay minimum wage, failure to provide meal and rest breaks, failure to appropriately pay agents at termination, failure to provide itemized wage statements, failure to reimburse expenses, and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. With respect to its current litigation, at this time management believes that the possibility of a material judgment adverse to Torchmark is remote, and no estimate of range can be made for loss contingencies that are at least reasonably possible but not accrued.

Liability for Unpaid Claims

Liability for Unpaid Claims	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Liability for Unpaid Claims	Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: Three Months Ended 2019 2018 Balance at beginning of period $ 154,528 $ 146,865 Incurred related to: Current year 151,230 134,542 Prior years 1,166 (5,001 ) Total incurred 152,396 129,541 Paid related to: Current year 60,055 55,130 Prior years 88,445 78,722 Total paid 148,500 133,852 Balance at end of period $ 158,424 $ 142,554 Below is the reconciliation of the liability for "Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . March 31, December 31, 2018 Policy claims and other benefits payable: Life insurance $ 198,870 $ 196,298 Health insurance 158,424 154,528 Total $ 357,294 $ 350,826

Postretirement Benefits

Postretirement Benefits	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Postretirement Benefits	Postretirement Benefits Torchmark has qualified noncontributory defined benefit plans and contributory savings plans that cover substantially all employees. There is also a nonqualified noncontributory supplemental executive retirement plan (SERP) that covers a limited number of employees. The following tables will focus on the defined benefit plans and SERP. Pension Assets: The following tables present the assets of Torchmark’s defined benefit pension plans at March 31, 2019 and December 31, 2018 . Pension Assets by Component at March 31, 2019 Fair Value Determined by: Quoted Prices in Significant Significant Total % of Corporate bonds: Financial $ — $ 42,967 $ — $ 42,967 10 Utilities — 40,077 — 40,077 10 Energy — 20,765 — 20,765 5 Other corporates — 86,217 — 86,217 21 Total corporate bonds — 190,026 — 190,026 46 Exchange traded fund (1) 178,120 — — 178,120 43 Other bonds — 249 — 249 — Other long-term investments — 9,903 — 9,903 2 Guaranteed annuity contract (2) — 26,604 — 26,604 6 Short-term investments 8,212 — — 8,212 2 Other 4,965 — — 4,965 1 Total pension assets $ 191,297 $ 226,782 $ — $ 418,079 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. Pension Assets by Component at December 31, 2018 Fair Value Determined by: Quoted Prices in Significant Significant Total % of Corporate bonds: Financial $ — $ 44,236 $ — $ 44,236 11 Utilities — 39,443 — 39,443 10 Energy — 19,744 — 19,744 5 Other corporates — 83,202 — 83,202 22 Total corporate bonds — 186,625 — 186,625 48 Exchange traded fund (1) 157,717 — — 157,717 40 Other bonds — 245 — 245 — Other long-term investments — 8,475 — 8,475 2 Guaranteed annuity contract (2) — 26,505 — 26,505 7 Short-term investments 9,289 — — 9,289 2 Other 3,816 — — 3,816 1 Total pension assets $ 170,822 $ 221,850 $ — $ 392,672 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. SERP : The following table includes information regarding the SERP at March 31, 2019 and December 31, 2018 . March 31, December 31, Premiums paid for insurance coverage $ 444 $ 2,997 Total investments: Company owned life insurance $ 45,021 $ 44,285 Exchange traded funds 56,926 52,659 $ 101,947 $ 96,944 Pension Liability : The following table presents liabilities for the defined benefit pension plans and SERP at March 31, 2019 and December 31, 2018 . March 31, December 31, Funded defined benefit pension $ 509,998 $ 481,792 SERP 74,655 74,407 Pension Benefit Obligation $ 584,653 $ 556,199 Net Periodic Benefit Cost: The following table presents the net periodic benefit costs for the defined benefit plans and SERP by expense components for the three month periods ended March 31, 2019 and 2018 . Components of Net Periodic Benefit Cost Three Months Ended March 31, 2019 2018 Service cost $ 4,982 $ 5,277 Interest cost 5,964 5,493 Expected return on assets (6,966 ) (6,363 ) Amortization: Prior service cost 158 119 Actuarial (gain) loss 1,894 3,636 Net periodic benefit cost $ 6,032 $ 8,162

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A reconciliation of basic and diluted weighted-average shares outstanding is as follows: Three Months Ended 2019 2018 Basic weighted average shares outstanding 110,301,527 114,179,084 Weighted average dilutive options outstanding 2,027,348 2,570,418 Diluted weighted average shares outstanding 112,328,875 116,749,502 Antidilutive shares 1,846,151 535,143

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Business Segments	Business Segments Torchmark's reportable segments are based on the insurance product lines it markets and administers: life insurance, health insurance, and annuities. These major product lines are set out as reportable segments because of the common characteristics of products within these categories, comparability of margins, and the similarity in regulatory environment and management techniques. Torchmark's chief operating decision makers evaluate the overall performance of the operations of the Company in accordance with these segments. Management’s measure of profitability for each insurance segment is insurance underwriting margin, which is underwriting income before other income and insurance administrative expenses. It represents the profit margin on insurance products before administrative expenses, and is calculated by deducting net policy obligations (claims incurred and change in reserves), commissions and other acquisition expenses from premium revenue. Torchmark further views the profitability of each insurance product segment by the marketing groups that distribute the products of that segment: direct response, independent agencies, or captive agencies. Torchmark’s management prefers to evaluate the performance of its underwriting and investment activities separately, rather than allocating investment income to the underwriting results. As such, the investment function is presented as a stand-alone segment. The investment segment includes the management of the investment portfolio, debt, and cash flow. Management’s measure of profitability for this segment is excess investment income, which is the income earned on the investment portfolio less the required interest on net policy liabilities and financing costs. Financing costs include the interest on Torchmark’s debt. Other income and insurance administrative expense are classified in a separate Corporate and other segment. The majority of the Company’s required interest on net policy liabilities (benefit reserves less the deferred acquisition cost asset) is not credited to policyholder accounts. Instead, it is an actuarial assumption for discounting cash flows in the computation of benefit reserves and the amortization of the deferred acquisition cost asset. Investment income required to fund the required interest on net policy liabilities is removed from the investment segment and applied to the insurance segments to eliminate the effect of the required interest from the insurance segments. As a result, the investment segment measures net investment income against the required interest on net policy liabilities and financing costs, while the insurance segments simply measure premiums against net policy benefits and expenses. Management believes this presentation facilitates a more meaningful analysis of the Company’s underwriting and investment performance as the underwriting results are based on premiums, claims, and expenses and are not affected by unanticipated fluctuations in investment yields. As noted, Torchmark’s core operations are insurance and investment management. The insurance segments issue policies for which premiums are collected for the eventual payment of policy benefits. In addition to policy benefits, operating expenses are incurred including acquisition costs, administrative expenses, and taxes. Because life and health contracts can be long term, premium receipts in excess of current expenses are invested. Investment activities, conducted by the investment segment, focus on seeking quality investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities, and, over the long term, the expected yields are taken into account when setting insurance premium rates and product profitability expectations. As a result, fixed maturities are generally held for long periods to support the liabilities, and Torchmark generally expects to hold investments until maturity. However, dispositions of investments occur from time to time, generally for reasons such as credit concerns, calls by issuers, or other factors. Since Torchmark does not actively trade investments, realized gains and losses from the disposition and write down of investments are generally incidental to operations and are not considered a material factor in insurance pricing or product profitability. While from time to time these realized gains and losses could be significant to net income in the period in which they occur, they generally have a limited effect on the yield of the total investment portfolio. Further, the disposals have little effect on the size of the portfolio as the proceeds of the disposals are reinvested in the portfolio and the income from the reinvestments is included in net investment income. Therefore, management removes realized investment gains and losses from results of core operations when evaluating the performance of the Company. For this reason, these gains and losses are excluded from Torchmark’s operating segments. Torchmark accounts for its stock options and restricted stock under current accounting guidance requiring stock options and stock grants to be expensed based on fair value at the time of grant. Management considers stock compensation expense to be an expense of the Parent Company. Therefore, stock compensation expense is treated as a corporate expense in Torchmark’s segment analysis. The following tables set forth a reconciliation of Torchmark’s revenues and operations by segment to its pre-tax income and each significant line item in its Condensed Consolidated Statements of Operations . Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended March 31, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 624,289 $ 266,684 $ — $ — $ — $ — $ 890,973 Net investment income — — — 226,673 — — 226,673 Other income — — — — 241 — 241 Total revenue 624,289 266,684 — 226,673 241 — 1,117,887 Expenses: Policy benefits 409,692 170,017 8,048 — — — 587,757 Required interest on reserves (163,662 ) (21,496 ) (11,120 ) 196,278 — — — Required interest on DAC 50,024 6,283 131 (56,438 ) — — — Amortization of acquisition costs 108,290 27,014 518 — — — 135,822 Commissions, premium taxes, and non-deferred acquisition costs 50,106 23,352 7 — — — 73,465 Insurance administrative expense (1) — — — — 59,191 400 (2) 59,591 Parent expense — — — — 2,643 — 2,643 Stock-based compensation expense — — — — 10,559 — 10,559 Interest expense — — — 21,278 — — 21,278 Total expenses 454,450 205,170 (2,416 ) 161,118 72,393 400 891,115 Subtotal 169,839 61,514 2,416 65,555 (72,152 ) (400 ) 226,772 Non-operating items — — — — — 400 (2) 400 Measure of segment profitability (pretax) $ 169,839 $ 61,514 $ 2,416 $ 65,555 $ (72,152 ) $ — 227,172 Realized gain (loss)—investments 1,329 Administrative settlements (400 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 228,101 (1) Administrative expense is not allocated to insurance segments. (2) During the first quarter of 2019 , Torchmark recorded $400 thousand in administrative settlements related to state regulatory examinations. Three Months Ended March 31, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 598,303 $ 251,798 $ 5 $ — $ — $ — $ 850,106 Net investment income — — — 218,084 — — 218,084 Other income — — — — 323 (28 ) (2) 295 Total revenue 598,303 251,798 5 218,084 323 (28 ) 1,068,485 Expenses: Policy benefits 400,581 160,619 8,689 — — — 569,889 Required interest on reserves (156,214 ) (20,404 ) (12,017 ) 188,635 — — — Required interest on DAC 47,944 6,013 153 (54,110 ) — — — Amortization of acquisition costs 103,777 25,257 586 — — — 129,620 Commissions, premium taxes, and non-deferred acquisition costs 47,394 22,265 8 — — (28 ) (2) 69,639 Insurance administrative expense (1) — — — — 55,472 — 55,472 Parent expense — — — — 2,292 — 2,292 Stock-based compensation expense — — — — 9,060 — 9,060 Interest expense — — — 21,622 — — 21,622 Total expenses 443,482 193,750 (2,581 ) 156,147 66,824 (28 ) 857,594 Subtotal 154,821 58,048 2,586 61,937 (66,501 ) — 210,891 Non-operating items — — — — — — — Measure of segment profitability (pretax) $ 154,821 $ 58,048 $ 2,586 $ 61,937 $ (66,501 ) $ — 210,891 Realized gain (loss)—investments 1,951 Income before income taxes per Condensed Consolidated Statements of Operations $ 212,842 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying condensed consolidated financial statements of Torchmark Corporation (Torchmark or alternatively, the Company) have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the disclosures required by accounting principles generally accepted in the United States of America (GAAP) for annual financial statements. However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at March 31, 2019 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2019 and 2018 . The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on March 1, 2019.
Accounting Pronouncements Adopted / Not Yet Adopted	Accounting Pronouncements Adopted in the Current Year Standard Description Effective date Effect on the consolidated financial statements ASU No. 2016-02/2018-11 , Leases (Topic 842), with clarification guidance issued in July 2018. The standard requires lessees to record a right-of-use asset and corresponding lease liability on the balance sheet for all operating leases that do not qualify for the practical expedients allowed for in this standard. Additional qualitative and quantitative disclosures are required. This standard became effective for the Company beginning January 1, 2019. The Company adopted the optional transition method allowed for under ASU 2018-11 by not restating comparative periods and recognizing an immaterial cumulative-effect adjustment to the opening balance of retained earnings on January 1, 2019. The Company does not have any significant lessor contracts. The adoption did not have a material impact on the consolidated financial statements. ASU No. 2017-08 , Receivables—Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard was issued to shorten the amortization period for certain callable debt securities held at a premium. The standard requires the premium to be amortized to the earliest call date. This standard became effective for the Company beginning January 1, 2019. This adoption did not have a material impact on the consolidated financial statements as of March 31, 2019. Accounting Pronouncements Yet to be Adopted Standard Description Effective date Effect on the consolidated financial statements ASU No. 2016-13/2019-04 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard provides financial statement users with more decision-useful information about the expected credit losses on financial instruments as well as to change the loss impairment methodology for available-for-sale debt securities by use of an allowance rather than a direct write-down. This standard will become effective on January 1, 2020. The applicable section of the standard related to debt securities requires a prospective transition. The Company is in the process of determining the impact this guidance will have on the consolidated financial statements. Standard Description Effective date Effect on the consolidated financial statements ASU No. 2018-12 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts The guidance was primarily issued to 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. This standard is effective beginning January 1, 2021, and should be applied on a retrospective basis. Early adoption of the amendments is permitted. ASU 2018-12 will require changes to the Company's actuarial systems and data inputs related to the valuation of the future policy benefits. Additionally, it will significantly expand the Company's disclosures. The Company is in the process of evaluating the impact this guidance will have on the consolidated financial statements. ASU No. 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement The amendment modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The revised standard is effective beginning January 1, 2020. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. ASU No. 2018-15 , Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract The standard was issued to align the accounting for implementation costs of hosting arrangements, regardless of whether they convey a license to the hosted software. Accordingly, the standard requires the capitalization of implementation costs incurred in a hosting arrangement that is a service contract, similar to the treatment for developed or obtained internal-use software. The standard is effective beginning January 1, 2020, and the Company plans to apply the standards on a prospective basis. Early adoption of the amendments is also permitted. The Company is in the process of determining the impact this guidance will have on the consolidated financial statements.

Supplemental Information abou_2

Supplemental Information about Changes to Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Analysis of Change in Balance by Component of Accumulated Other Comprehensive Income	An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three month periods ended March 31, 2019 and 2018 . Components of Accumulated Other Comprehensive Income Three Months Ended March 31, 2018 Available Deferred Foreign Pension Total Balance at January 1, 2018 $ 1,569,289 $ (8,547 ) $ 16,302 $ (152,770 ) $ 1,424,274 Other comprehensive income (loss) before reclassifications, net of tax (485,843 ) 356 (1,023 ) — (486,510 ) Reclassifications, net of tax (550 ) — — 2,985 2,435 Other comprehensive income (loss) (486,393 ) 356 (1,023 ) 2,985 (484,075 ) Balance at March 31, 2018 $ 1,082,896 $ (8,191 ) $ 15,279 $ (149,785 ) $ 940,199 Three Months Ended March 31, 2019 Available Deferred Foreign Pension Total Balance at January 1, 2019 $ 435,698 $ (4,163 ) $ 6,495 $ (118,555 ) $ 319,475 Other comprehensive income (loss) before reclassifications, net of tax 550,934 (2,528 ) 2,442 — 550,848 Reclassifications, net of tax (1,931 ) — — 1,675 (256 ) Other comprehensive income (loss) 549,003 (2,528 ) 2,442 1,675 550,592 Balance at March 31, 2019 $ 984,701 $ (6,691 ) $ 8,937 $ (116,880 ) $ 870,067
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2019 and 2018 . Reclassification Adjustments Three Months Ended Affected line items in the Statement of Operations Component Line Item 2019 2018 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (3,670 ) $ (1,386 ) Realized investment gains (losses) Amortization of (discount) premium 1,226 690 Net investment income Total before tax (2,444 ) (696 ) Tax 513 146 Income taxes Total after-tax (1,931 ) (550 ) Pension adjustments: Amortization of prior service cost 158 119 Other operating expense Amortization of actuarial gain (loss) 1,962 3,659 Other operating expense Total before tax 2,120 3,778 Tax (445 ) (793 ) Income taxes Total after-tax 1,675 2,985 Total reclassifications (after-tax) $ (256 ) $ 2,435

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Fixed Maturities and Equity Securities Available for Sale by Cost or Amortized Cost and Estimated Fair Value	Summaries of fixed maturities available for sale by cost or amortized cost and estimated fair value at March 31, 2019 and December 31, 2018 are shown below. March 31, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,947 $ 16,443 $ (1,034 ) $ 406,356 2 States, municipalities, and political subdivisions 1,426,461 113,371 (174 ) 1,539,658 9 Foreign governments 19,402 2,222 — 21,624 — Corporates, by sector: Financial 3,864,828 387,731 (44,465 ) 4,208,094 24 Utilities 1,984,792 279,830 (9,690 ) 2,254,932 13 Energy 1,645,409 172,802 (27,409 ) 1,790,802 10 Other corporate sectors 6,452,950 438,527 (115,784 ) 6,775,693 40 Total corporates 13,947,979 1,278,890 (197,348 ) 15,029,521 87 Collateralized debt obligations 57,473 25,664 (5,888 ) 77,249 1 Other asset-backed securities 145,966 3,577 (366 ) 149,177 1 Total fixed maturities $ 15,988,228 $ 1,440,167 $ (204,810 ) $ 17,223,585 100 (1) Amounts reported on the balance sheet. (2) At fair value. December 31, 2018 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,351 $ 5,104 $ (2,787 ) $ 392,668 2 States, municipalities, and political subdivisions 1,354,810 83,600 (1,750 ) 1,436,660 9 Foreign governments 19,006 1,810 — 20,816 — Corporates, by sector: Financial 3,759,768 262,875 (87,515 ) 3,935,128 24 Utilities 1,989,506 217,846 (24,399 ) 2,182,953 13 Energy 1,652,700 93,880 (62,371 ) 1,684,209 10 Other corporate sectors 6,382,707 283,524 (242,509 ) 6,423,722 40 Total corporates 13,784,681 858,125 (416,794 ) 14,226,012 87 Collateralized debt obligations 57,769 22,014 (6,414 ) 73,369 1 Other asset-backed securities 146,854 2,187 (634 ) 148,407 1 Total fixed maturities $ 15,753,471 $ 972,840 $ (428,379 ) $ 16,297,932 100 (1) Amounts reported on the balance sheet. (2) At fair value.
Schedule of Fixed Maturities by Contractual Maturity Date	A schedule of fixed maturities available for sale by contractual maturity date at March 31, 2019 is shown below on an amortized cost basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. March 31, 2019 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 204,444 $ 206,980 Due after one year through five years 611,042 643,173 Due after five years through ten years 1,643,633 1,814,976 Due after ten years through twenty years 5,210,071 5,843,176 Due after twenty years 8,114,988 8,488,204 Mortgage-backed and asset-backed securities 204,050 227,076 $ 15,988,228 $ 17,223,585
Net Investment Income	Net investment income for the three months ended March 31, 2019 and 2018 is summarized as follows: Three Months Ended 2019 2018 Fixed maturities available for sale $ 215,763 $ 208,542 Policy loans 10,636 10,198 Other long-term investments 3,388 2,854 Short-term investments 819 391 230,606 221,985 Less investment expense (3,933 ) (3,901 ) Net investment income $ 226,673 $ 218,084
Schedule Of Selected Information About Sales Of Fixed Maturities Available for Sale	Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended 2019 2018 Fixed maturities available for sale: Proceeds from sales $ 34,997 $ — Gross realized gains 46 — Gross realized losses (3,027 ) —
Analysis of Realized Gains (Losses) on Investments	An analysis of realized gains (losses) is as follows: Three Months Ended 2019 2018 Realized investment gains (losses): Fixed maturities available for sale: Sales and other $ 3,670 $ 1,386 Fair value option—change in fair value (2,185 ) 560 Other investments (156 ) 5 Realized gains (losses) from investments 1,329 1,951 Applicable tax (279 ) (410 ) Realized gains (losses), net of tax $ 1,050 $ 1,541
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables represent the fair value of fixed maturities available for sale measured on a recurring basis at March 31, 2019 and December 31, 2018 . Fair Value Measurements at March 31, 2019 using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 406,356 $ — $ 406,356 States, municipalities, and political subdivisions — 1,539,658 — 1,539,658 Foreign governments — 21,624 — 21,624 Corporates, by sector: Financial — 4,163,932 44,162 4,208,094 Utilities 5,100 2,098,883 150,949 2,254,932 Energy — 1,750,336 40,466 1,790,802 Other corporate sectors — 6,448,950 326,743 6,775,693 Total corporates 5,100 14,462,101 562,320 15,029,521 Collateralized debt obligations — — 77,249 77,249 Other asset-backed securities — 136,023 13,154 149,177 Total fixed maturities $ 5,100 $ 16,565,762 $ 652,723 $ 17,223,585 Percentage of total — % 96.2 % 3.8 % 100.0 % Fair Value Measurements at December 31, 2018 using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 392,668 $ — $ 392,668 States, municipalities, and political subdivisions — 1,436,660 — 1,436,660 Foreign governments — 20,816 — 20,816 Corporates, by sector: Financial — 3,891,728 43,400 3,935,128 Utilities — 2,032,127 150,826 2,182,953 Energy — 1,645,077 39,132 1,684,209 Other corporate sectors — 6,103,609 320,113 6,423,722 Total corporates — 13,672,541 553,471 14,226,012 Collateralized debt obligations — — 73,369 73,369 Other asset-backed securities — 135,425 12,982 148,407 Total fixed maturities $ — $ 15,658,110 $ 639,822 $ 16,297,932 Percentage of total — % 96.1 % 3.9 % 100.0 %
Schedule of Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs	The following tables represent an analysis of changes in fair value measurements using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2019 Asset- Collateralized Corporates (1) Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income 298 4,176 10,663 15,137 Acquisitions — — — — Sales — — — — Amortization — 1,162 3 1,165 Other (2) (126 ) (1,458 ) (1,817 ) (3,401 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2019 $ 13,154 $ 77,249 $ 562,320 $ 652,723 Percent of total fixed maturities 0.1 % 0.4 % 3.3 % 3.8 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. Three Months Ended March 31, 2018 Asset- Collateralized Corporates (1) Total Balance at January 1, 2018 $ 14,049 $ 71,581 $ 582,810 $ 668,440 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income (749 ) 4,621 (12,233 ) (8,361 ) Acquisitions — — — — Sales — — — — Amortization — 1,201 4 1,205 Other (2) (113 ) (1,879 ) (1,781 ) (3,773 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2018 $ 13,187 $ 75,524 $ 568,800 $ 657,511 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available.
Transfers In And Out Of Each Of Valuation Levels Of Fair Values	The following table presents transfers in and out of each of the valuation levels of fair values. Three Months Ended March 31, 2019 2018 In Out Net In Out Net Level 1 $ 5,100 $ — $ 5,100 $ — $ — $ — Level 2 — (5,100 ) (5,100 ) — — — Level 3 — — — — — —
Schedule Of Other Long Term Investments	Other long-term investments consist of the following: March 31, 2019 December 31, 2018 Investment in limited partnerships (1) $ 118,556 $ 108,241 Commercial mortgage loan participations (2) 110,209 96,266 Other 3,169 2,751 Total other long-term investments $ 231,934 $ 207,258 (1) See the following section for more information regarding the fair value option method used to account for these investments. (2) Torchmark invests in a portfolio of commercial mortgage loan participations. As of March 31, 2019 and December 31, 2018 , the Company evaluated the portfolio on a loan-by-loan basis to determine any allowance for loss. Factors considered include, but are not limited to, collateral value, loan-to-value ratio, debt service coverage ratio, local market conditions, credit quality of the borrower and tenants, and loan performance. There were no material changes to the property type, geographic location, or loan-to-value ratio for any of the loans during the quarter. As of March 31, 2019 and December 31, 2018 , there was no allowance for loss.
Fair Value of Investments Elected for the Fair Value Option	The following table represents the fair value of certain limited partnership investments elected for the fair value option method measured on a recurring basis at March 31, 2019 , and the changes in fair value for the three months ended March 31, 2019 . All changes in fair value are recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations . Distributions received on a periodic basis are recorded in Net Investment Income. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value Fair Value Measurements at: March 31, 2019 $ — $ 118,556 $ — $ 118,556 December 31, 2018 — 108,241 — 108,241 Changes in Fair Values for the Period for Items Measured at Fair Value Pursuant to Election of the Fair Value Option Net Gains and Losses Recognized During the Period Less Net Gains and Losses Recognized due to Sales Total Changes in Fair Values Included in Current-Period Earnings Three Months Ended March 31, 2019 $ (2,185 ) $ — $ (2,185 ) 2018 560 — 560
Schedule of Information About Investments in Unrealized Loss Position	The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Total Number of issues (CUSIP numbers) held: As of March 31, 2019 83 311 394 As of December 31, 2018 495 234 729
Schedule of Unrealized Investment Losses by Class of Investment	The following tables disclose unrealized investment losses by class and major sector of fixed maturities available for sale at March 31, 2019 and December 31, 2018 , respectively. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At March 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Value Unrealized Loss Fair Unrealized Loss Fair Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 6 $ — $ 61,709 $ (1,034 ) $ 61,715 $ (1,034 ) States, municipalities and political subdivisions 14,974 (26 ) 1,056 (5 ) 16,030 (31 ) Corporates, by sector: Financial 69,791 (1,004 ) 388,946 (15,440 ) 458,737 (16,444 ) Utilities 2,023 (2 ) 177,061 (5,553 ) 179,084 (5,555 ) Energy 48,948 (693 ) 145,645 (7,662 ) 194,593 (8,355 ) Other corporate sectors 392,572 (12,612 ) 1,560,588 (82,520 ) 1,953,160 (95,132 ) Total corporates 513,334 (14,311 ) 2,272,240 (111,175 ) 2,785,574 (125,486 ) Other asset-backed securities 98 — 4,463 (23 ) 4,561 (23 ) Total investment grade securities 528,412 (14,337 ) 2,339,468 (112,237 ) 2,867,880 (126,574 ) Below investment grade securities: States, municipalities and political subdivisions 85 (143 ) — — 85 (143 ) Corporates, by sector: Financial — — 104,759 (28,021 ) 104,759 (28,021 ) Utilities — — 12,648 (4,135 ) 12,648 (4,135 ) Energy 11,207 (589 ) 47,260 (18,465 ) 58,467 (19,054 ) Other corporate sectors 35,189 (2,153 ) 94,367 (18,499 ) 129,556 (20,652 ) Total corporates 46,396 (2,742 ) 259,034 (69,120 ) 305,430 (71,862 ) Collateralized debt obligations — — 14,112 (5,888 ) 14,112 (5,888 ) Other asset-backed securities 14,132 (343 ) — — 14,132 (343 ) Total below investment grade securities 60,613 (3,228 ) 273,146 (75,008 ) 333,759 (78,236 ) Total fixed maturities $ 589,025 $ (17,565 ) $ 2,612,614 $ (187,245 ) $ 3,201,639 $ (204,810 ) Analysis of Gross Unrealized Investment Losses At December 31, 2018 Less than Twelve Months Twelve Months or Longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 37,182 $ (212 ) $ 89,664 $ (2,575 ) $ 126,846 $ (2,787 ) States, municipalities and political subdivisions 124,907 (1,648 ) 7,981 (102 ) 132,888 (1,750 ) Corporates, by sector: Financial 931,161 (36,337 ) 241,442 (21,572 ) 1,172,603 (57,909 ) Utilities 329,753 (11,680 ) 121,308 (9,442 ) 451,061 (21,122 ) Energy 475,736 (29,426 ) 54,937 (9,382 ) 530,673 (38,808 ) Other corporate sectors 2,515,541 (149,168 ) 575,796 (62,994 ) 3,091,337 (212,162 ) Total corporates 4,252,191 (226,611 ) 993,483 (103,390 ) 5,245,674 (330,001 ) Other asset-backed securities 44,603 (634 ) — — 44,603 (634 ) Total investment grade securities 4,458,883 (229,105 ) 1,091,128 (106,067 ) 5,550,011 (335,172 ) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 22,087 (8,674 ) 81,101 (20,932 ) 103,188 (29,606 ) Utilities 28,613 (3,277 ) — — 28,613 (3,277 ) Energy 42,874 (3,901 ) 36,122 (19,662 ) 78,996 (23,563 ) Other corporate sectors 146,373 (7,235 ) 69,053 (23,112 ) 215,426 (30,347 ) Total corporates 239,947 (23,087 ) 186,276 (63,706 ) 426,223 (86,793 ) Collateralized debt obligations — — 13,586 (6,414 ) 13,586 (6,414 ) Other asset-backed securities — — — — — — Total below investment grade securities 239,947 (23,087 ) 199,862 (70,120 ) 439,809 (93,207 ) Total fixed maturities $ 4,698,830 $ (252,192 ) $ 1,290,990 $ (176,187 ) $ 5,989,820 $ (428,379 )

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Activity in the Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: Three Months Ended 2019 2018 Balance at beginning of period $ 154,528 $ 146,865 Incurred related to: Current year 151,230 134,542 Prior years 1,166 (5,001 ) Total incurred 152,396 129,541 Paid related to: Current year 60,055 55,130 Prior years 88,445 78,722 Total paid 148,500 133,852 Balance at end of period $ 158,424 $ 142,554
Reconciliation of the Liability for Policy Claims and Other Benefits Payable	Below is the reconciliation of the liability for "Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . March 31, December 31, 2018 Policy claims and other benefits payable: Life insurance $ 198,870 $ 196,298 Health insurance 158,424 154,528 Total $ 357,294 $ 350,826

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Assets at Fair Value for Defined-Benefit Pension Plans	The following tables present the assets of Torchmark’s defined benefit pension plans at March 31, 2019 and December 31, 2018 . Pension Assets by Component at March 31, 2019 Fair Value Determined by: Quoted Prices in Significant Significant Total % of Corporate bonds: Financial $ — $ 42,967 $ — $ 42,967 10 Utilities — 40,077 — 40,077 10 Energy — 20,765 — 20,765 5 Other corporates — 86,217 — 86,217 21 Total corporate bonds — 190,026 — 190,026 46 Exchange traded fund (1) 178,120 — — 178,120 43 Other bonds — 249 — 249 — Other long-term investments — 9,903 — 9,903 2 Guaranteed annuity contract (2) — 26,604 — 26,604 6 Short-term investments 8,212 — — 8,212 2 Other 4,965 — — 4,965 1 Total pension assets $ 191,297 $ 226,782 $ — $ 418,079 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. Pension Assets by Component at December 31, 2018 Fair Value Determined by: Quoted Prices in Significant Significant Total % of Corporate bonds: Financial $ — $ 44,236 $ — $ 44,236 11 Utilities — 39,443 — 39,443 10 Energy — 19,744 — 19,744 5 Other corporates — 83,202 — 83,202 22 Total corporate bonds — 186,625 — 186,625 48 Exchange traded fund (1) 157,717 — — 157,717 40 Other bonds — 245 — 245 — Other long-term investments — 8,475 — 8,475 2 Guaranteed annuity contract (2) — 26,505 — 26,505 7 Short-term investments 9,289 — — 9,289 2 Other 3,816 — — 3,816 1 Total pension assets $ 170,822 $ 221,850 $ — $ 392,672 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan.
Schedule of Defined Benefit Plans Disclosures	The following table includes information regarding the SERP at March 31, 2019 and December 31, 2018 . March 31, December 31, Premiums paid for insurance coverage $ 444 $ 2,997 Total investments: Company owned life insurance $ 45,021 $ 44,285 Exchange traded funds 56,926 52,659 $ 101,947 $ 96,944
Pension Liability	The following table presents liabilities for the defined benefit pension plans and SERP at March 31, 2019 and December 31, 2018 . March 31, December 31, Funded defined benefit pension $ 509,998 $ 481,792 SERP 74,655 74,407 Pension Benefit Obligation $ 584,653 $ 556,199
Summary of Post-Retirement Benefit Costs by Component	The following table presents the net periodic benefit costs for the defined benefit plans and SERP by expense components for the three month periods ended March 31, 2019 and 2018 . Components of Net Periodic Benefit Cost Three Months Ended March 31, 2019 2018 Service cost $ 4,982 $ 5,277 Interest cost 5,964 5,493 Expected return on assets (6,966 ) (6,363 ) Amortization: Prior service cost 158 119 Actuarial (gain) loss 1,894 3,636 Net periodic benefit cost $ 6,032 $ 8,162

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Weighted-Average Shares Outstanding	A reconciliation of basic and diluted weighted-average shares outstanding is as follows: Three Months Ended 2019 2018 Basic weighted average shares outstanding 110,301,527 114,179,084 Weighted average dilutive options outstanding 2,027,348 2,570,418 Diluted weighted average shares outstanding 112,328,875 116,749,502 Antidilutive shares 1,846,151 535,143

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Reconciliation of Segment Operating Information to Consolidated Statement of Operations	The following tables set forth a reconciliation of Torchmark’s revenues and operations by segment to its pre-tax income and each significant line item in its Condensed Consolidated Statements of Operations . Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended March 31, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 624,289 $ 266,684 $ — $ — $ — $ — $ 890,973 Net investment income — — — 226,673 — — 226,673 Other income — — — — 241 — 241 Total revenue 624,289 266,684 — 226,673 241 — 1,117,887 Expenses: Policy benefits 409,692 170,017 8,048 — — — 587,757 Required interest on reserves (163,662 ) (21,496 ) (11,120 ) 196,278 — — — Required interest on DAC 50,024 6,283 131 (56,438 ) — — — Amortization of acquisition costs 108,290 27,014 518 — — — 135,822 Commissions, premium taxes, and non-deferred acquisition costs 50,106 23,352 7 — — — 73,465 Insurance administrative expense (1) — — — — 59,191 400 (2) 59,591 Parent expense — — — — 2,643 — 2,643 Stock-based compensation expense — — — — 10,559 — 10,559 Interest expense — — — 21,278 — — 21,278 Total expenses 454,450 205,170 (2,416 ) 161,118 72,393 400 891,115 Subtotal 169,839 61,514 2,416 65,555 (72,152 ) (400 ) 226,772 Non-operating items — — — — — 400 (2) 400 Measure of segment profitability (pretax) $ 169,839 $ 61,514 $ 2,416 $ 65,555 $ (72,152 ) $ — 227,172 Realized gain (loss)—investments 1,329 Administrative settlements (400 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 228,101 (1) Administrative expense is not allocated to insurance segments. (2) During the first quarter of 2019 , Torchmark recorded $400 thousand in administrative settlements related to state regulatory examinations. Three Months Ended March 31, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 598,303 $ 251,798 $ 5 $ — $ — $ — $ 850,106 Net investment income — — — 218,084 — — 218,084 Other income — — — — 323 (28 ) (2) 295 Total revenue 598,303 251,798 5 218,084 323 (28 ) 1,068,485 Expenses: Policy benefits 400,581 160,619 8,689 — — — 569,889 Required interest on reserves (156,214 ) (20,404 ) (12,017 ) 188,635 — — — Required interest on DAC 47,944 6,013 153 (54,110 ) — — — Amortization of acquisition costs 103,777 25,257 586 — — — 129,620 Commissions, premium taxes, and non-deferred acquisition costs 47,394 22,265 8 — — (28 ) (2) 69,639 Insurance administrative expense (1) — — — — 55,472 — 55,472 Parent expense — — — — 2,292 — 2,292 Stock-based compensation expense — — — — 9,060 — 9,060 Interest expense — — — 21,622 — — 21,622 Total expenses 443,482 193,750 (2,581 ) 156,147 66,824 (28 ) 857,594 Subtotal 154,821 58,048 2,586 61,937 (66,501 ) — 210,891 Non-operating items — — — — — — — Measure of segment profitability (pretax) $ 154,821 $ 58,048 $ 2,586 $ 61,937 $ (66,501 ) $ — 210,891 Realized gain (loss)—investments 1,951 Income before income taxes per Condensed Consolidated Statements of Operations $ 212,842 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission.

Supplemental Information abou_3

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Schedule of Analysis of Change in Balance by Component of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	$ 5,415,177	$ 6,231,421
Other comprehensive income (loss) before reclassifications, net of tax	550,848	(486,510)
Reclassifications, net of tax	(256)	2,435
Other comprehensive income (loss)	550,592	(484,075)
Stockholders' equity, ending balance	6,043,426	5,820,301
Available for Sale Assets [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	435,698	1,569,289
Other comprehensive income (loss) before reclassifications, net of tax	550,934	(485,843)
Reclassifications, net of tax	(1,931)	(550)
Other comprehensive income (loss)	549,003	(486,393)
Stockholders' equity, ending balance	984,701	1,082,896
Deferred Acquisition Costs [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(4,163)	(8,547)
Other comprehensive income (loss) before reclassifications, net of tax	(2,528)	356
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	(2,528)	356
Stockholders' equity, ending balance	(6,691)	(8,191)
Foreign Exchange [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	6,495	16,302
Other comprehensive income (loss) before reclassifications, net of tax	2,442	(1,023)
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	2,442	(1,023)
Stockholders' equity, ending balance	8,937	15,279
Pension Adjustments [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(118,555)	(152,770)
Other comprehensive income (loss) before reclassifications, net of tax	0	0
Reclassifications, net of tax	1,675	2,985
Other comprehensive income (loss)	1,675	2,985
Stockholders' equity, ending balance	(116,880)	(149,785)
Total [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	319,475	1,424,274
Stockholders' equity, ending balance	$ 870,067	$ 940,199

Supplemental Information abou_4

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Summary of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Unrealized investment gains (losses) on available for sale assets:
Realized (gains) losses	$ (1,329)	$ (1,951)
Amortization of (discount) premium	(226,673)	(218,084)
Total before tax	(228,101)	(212,842)
Tax	42,707	39,131
Net income	(185,345)	(173,600)
Pension adjustments:
Tax	42,707	39,131
Reclassification out of Accumulated Other Comprehensive Income [Member]
Unrealized investment gains (losses) on available for sale assets:
Net income	(256)	2,435
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Investment Gains (Losses) on Available for Sale Assets [Member]
Unrealized investment gains (losses) on available for sale assets:
Realized (gains) losses	(3,670)	(1,386)
Amortization of (discount) premium	1,226	690
Total before tax	(2,444)	(696)
Tax	513	146
Net income	(1,931)	(550)
Pension adjustments:
Tax	513	146
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Prior Service Cost [Member]
Pension adjustments:
Pension adjustments	158	119
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Actuarial Gain (Loss) [Member]
Pension adjustments:
Pension adjustments	1,962	3,659
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Adjustments [Member]
Unrealized investment gains (losses) on available for sale assets:
Total before tax	2,120	3,778
Tax	(445)	(793)
Net income	1,675	2,985
Pension adjustments:
Tax	$ (445)	$ (793)

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 15,988,228	$ 15,753,471
Fair Value	17,223,585	16,297,932
Fixed maturities available for sale [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	15,988,228	15,753,471
Gross Unrealized Gains	1,440,167	972,840
Gross Unrealized Losses	(204,810)	(428,379)
Fair Value	$ 17,223,585	$ 16,297,932
Percentage of Total Fixed Maturities	100.00%	100.00%
Fixed maturities available for sale [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 390,947	$ 390,351
Gross Unrealized Gains	16,443	5,104
Gross Unrealized Losses	(1,034)	(2,787)
Fair Value	$ 406,356	$ 392,668
Percentage of Total Fixed Maturities	2.00%	2.00%
Fixed maturities available for sale [Member] | States, municipalities, and political subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,426,461	$ 1,354,810
Gross Unrealized Gains	113,371	83,600
Gross Unrealized Losses	(174)	(1,750)
Fair Value	$ 1,539,658	$ 1,436,660
Percentage of Total Fixed Maturities	9.00%	9.00%
Fixed maturities available for sale [Member] | Foreign governments [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 19,402	$ 19,006
Gross Unrealized Gains	2,222	1,810
Gross Unrealized Losses	0	0
Fair Value	$ 21,624	$ 20,816
Percentage of Total Fixed Maturities	0.00%	0.00%
Fixed maturities available for sale [Member] | Corporates [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 13,947,979	$ 13,784,681
Gross Unrealized Gains	1,278,890	858,125
Gross Unrealized Losses	(197,348)	(416,794)
Fair Value	$ 15,029,521	$ 14,226,012
Percentage of Total Fixed Maturities	87.00%	87.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Financial [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 3,864,828	$ 3,759,768
Gross Unrealized Gains	387,731	262,875
Gross Unrealized Losses	(44,465)	(87,515)
Fair Value	$ 4,208,094	$ 3,935,128
Percentage of Total Fixed Maturities	24.00%	24.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Utilities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,984,792	$ 1,989,506
Gross Unrealized Gains	279,830	217,846
Gross Unrealized Losses	(9,690)	(24,399)
Fair Value	$ 2,254,932	$ 2,182,953
Percentage of Total Fixed Maturities	13.00%	13.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Energy [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,645,409	$ 1,652,700
Gross Unrealized Gains	172,802	93,880
Gross Unrealized Losses	(27,409)	(62,371)
Fair Value	$ 1,790,802	$ 1,684,209
Percentage of Total Fixed Maturities	10.00%	10.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Other corporate sectors [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 6,452,950	$ 6,382,707
Gross Unrealized Gains	438,527	283,524
Gross Unrealized Losses	(115,784)	(242,509)
Fair Value	$ 6,775,693	$ 6,423,722
Percentage of Total Fixed Maturities	40.00%	40.00%
Fixed maturities available for sale [Member] | Collateralized debt obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 57,473	$ 57,769
Gross Unrealized Gains	25,664	22,014
Gross Unrealized Losses	(5,888)	(6,414)
Fair Value	$ 77,249	$ 73,369
Percentage of Total Fixed Maturities	1.00%	1.00%
Fixed maturities available for sale [Member] | Other asset-backed securities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 145,966	$ 146,854
Gross Unrealized Gains	3,577	2,187
Gross Unrealized Losses	(366)	(634)
Fair Value	$ 149,177	$ 148,407
Percentage of Total Fixed Maturities	1.00%	1.00%

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less	$ 204,444
Due after one year through five years	611,042
Due after five years through ten years	1,643,633
Due after ten years through twenty years	5,210,071
Due after twenty years	8,114,988
Mortgage-backed and asset-backed securities	204,050
Cost or Amortized Cost	15,988,228	$ 15,753,471
Fair Value
Due in one year or less	206,980
Due after one year through five years	643,173
Due after five years through ten years	1,814,976
Due after ten years through twenty years	5,843,176
Due after twenty years	8,488,204
Mortgage-backed and asset-backed securities	227,076
Fair Value	$ 17,223,585	$ 16,297,932

Investments - Schedule of Analy

Investments - Schedule of Analysis of Investment Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Investment Income [Line Items]
Investment income, gross	$ 230,606	$ 221,985
Less investment expense	(3,933)	(3,901)
Net investment income	226,673	218,084
Fixed maturities available for sale [Member]
Net Investment Income [Line Items]
Investment income, gross	215,763	208,542
Policy loans [Member]
Net Investment Income [Line Items]
Investment income, gross	10,636	10,198
Other long-term investments [Member]
Net Investment Income [Line Items]
Investment income, gross	3,388	2,854
Short-term investments [Member]
Net Investment Income [Line Items]
Investment income, gross	$ 819	$ 391

Investments - Realized Gain (Lo

Investments - Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gain (Loss) on Securities [Line Items]
Realized gain (loss)—investments	$ 1,329	$ 1,951
Realized gains (losses) from investments	(279)	(410)
Realized Gains Losses From Investments Net Of Tax	1,050	1,541
Fixed maturities available for sale [Member]
Gain (Loss) on Securities [Line Items]
Realized gain (loss)—investments	3,670	1,386
Fair value option - change in fair value
Gain (Loss) on Securities [Line Items]
Realized gain (loss)—investments	(2,185)	560
Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Realized gain (loss)—investments	$ (156)	$ 5

Investments - Sales of Fixed Ma

Investments - Sales of Fixed Maturities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 34,997	$ 0
Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	34,997	0
Gross realized gains	46	0
Gross realized losses	$ (3,027)	$ 0

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 17,223,585	$ 16,297,932
Percent of total	100.00%	100.00%
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	0.00%	0.00%
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	96.20%	96.10%
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	3.80%	3.90%
Fixed maturities available for sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 17,223,585	$ 16,297,932
Fixed maturities available for sale [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	406,356	392,668
Fixed maturities available for sale [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,539,658	1,436,660
Fixed maturities available for sale [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	21,624	20,816
Fixed maturities available for sale [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	15,029,521	14,226,012
Fixed maturities available for sale [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,208,094	3,935,128
Fixed maturities available for sale [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,254,932	2,182,953
Fixed maturities available for sale [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,790,802	1,684,209
Fixed maturities available for sale [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,775,693	6,423,722
Fixed maturities available for sale [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	77,249	73,369
Fixed maturities available for sale [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	149,177	148,407
Fixed maturities available for sale [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,100	0
Fixed maturities available for sale [Member] | Level 1 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,100	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,100	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,565,762	15,658,110
Fixed maturities available for sale [Member] | Level 2 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	406,356	392,668
Fixed maturities available for sale [Member] | Level 2 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,539,658	1,436,660
Fixed maturities available for sale [Member] | Level 2 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	21,624	20,816
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	14,462,101	13,672,541
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,163,932	3,891,728
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,098,883	2,032,127
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,750,336	1,645,077
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,448,950	6,103,609
Fixed maturities available for sale [Member] | Level 2 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 2 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	136,023	135,425
Fixed maturities available for sale [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	652,723	639,822
Fixed maturities available for sale [Member] | Level 3 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	562,320	553,471
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	44,162	43,400
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	150,949	150,826
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	40,466	39,132
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	326,743	320,113
Fixed maturities available for sale [Member] | Level 3 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	77,249	73,369
Fixed maturities available for sale [Member] | Level 3 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 13,154	$ 12,982

Investments - Schedule of Chang

Investments - Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 639,822	$ 668,440
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	15,137	(8,361)
Acquisitions	0	0
Sales	0	0
Amortization	1,165	1,205
Other	(3,401)	(3,773)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 652,723	$ 657,511
Percent of total fixed maturities	3.80%	4.00%
Asset-Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 12,982	$ 14,049
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	298	(749)
Acquisitions	0	0
Sales	0	0
Amortization	0	0
Other	(126)	(113)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 13,154	$ 13,187
Percent of total fixed maturities	0.10%	0.10%
Collateralized debt obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 73,369	$ 71,581
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	4,176	4,621
Acquisitions	0	0
Sales	0	0
Amortization	1,162	1,201
Other	(1,458)	(1,879)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 77,249	$ 75,524
Percent of total fixed maturities	0.40%	0.50%
Corporates [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 553,471	$ 582,810
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	10,663	(12,233)
Acquisitions	0	0
Sales	0	0
Amortization	3	4
Other	(1,817)	(1,781)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 562,320	$ 568,800
Percent of total fixed maturities	3.30%	3.40%

Investments - Additional Inform

Investments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019USD ($)Issue	Mar. 31, 2018USD ($)	Dec. 31, 2018Issue
Gain (Loss) on Securities [Line Items]
Total issues of fixed maturity portfolio | Issue	1,598		1,548
Fixed Maturities [Member]
Gain (Loss) on Securities [Line Items]
Other than-temporary impairment, available for sale securities | $	$ 0	$ 0

Investments - Transfers in and

Investments - Transfers in and Out of Each of the Valuation Levels of Fair Values (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Level 1 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	$ 5,100	$ 0
Out	0	0
Net	5,100	0
Level 2 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	0	0
Out	(5,100)	0
Net	(5,100)	0
Level 3 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	0	0
Out	0	0
Net	$ 0	$ 0

Investments - Schedule of Other

Investments - Schedule of Other Long-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Other long-term investments	$ 231,934	$ 207,258
Investment in limited partnerships [Member]
Investment [Line Items]
Other long-term investments	118,556	108,241
Commercial mortgage loan participations [Member]
Investment [Line Items]
Other long-term investments	110,209	96,266
Other [Member]
Investment [Line Items]
Other long-term investments	$ 3,169	$ 2,751

Investments - Fair Value Option

Investments - Fair Value Option (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Net Gains and Losses Recognized During the Period	$ (2,185)	$ 560
Less Net Gains and Losses Recognized due to Sales	0	0
Total Changes in Fair Values Included in Current-Period Earnings	(2,185)	$ 560
Fair Value Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	118,556		$ 108,241
Level 1 [Member] | Fair Value Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	0		0
Level 2 [Member] | Fair Value Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	118,556		108,241
Level 3 [Member] | Fair Value Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	$ 0		$ 0

Investments - Schedule of Infor

Investments - Schedule of Information about Investments in Unrealized Loss Position (Details) - Issue	Mar. 31, 2019	Dec. 31, 2018
Number of issues (Cusip numbers) held:
Less than Twelve Months	83	495
Twelve Months or Longer	311	234
Total	394	729

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value
Fair Value, Less than Twelve Months	$ 589,025	$ 4,698,830
Fair Value, Twelve Months or Longer	2,612,614	1,290,990
Fair Value, Total	3,201,639	5,989,820
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(17,565)	(252,192)
Unrealized Loss, Twelve Months or Longer	(187,245)	(176,187)
Unrealized Loss, Total	(204,810)	(428,379)
Investment grade [Member]
Fair Value
Fair Value, Less than Twelve Months	528,412	4,458,883
Fair Value, Twelve Months or Longer	2,339,468	1,091,128
Fair Value, Total	2,867,880	5,550,011
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(14,337)	(229,105)
Unrealized Loss, Twelve Months or Longer	(112,237)	(106,067)
Unrealized Loss, Total	(126,574)	(335,172)
Investment grade [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value
Fair Value, Less than Twelve Months	6	37,182
Fair Value, Twelve Months or Longer	61,709	89,664
Fair Value, Total	61,715	126,846
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	(212)
Unrealized Loss, Twelve Months or Longer	(1,034)	(2,575)
Unrealized Loss, Total	(1,034)	(2,787)
Investment grade [Member] | States, municipalities, and political subdivisions [Member]
Fair Value
Fair Value, Less than Twelve Months	14,974	124,907
Fair Value, Twelve Months or Longer	1,056	7,981
Fair Value, Total	16,030	132,888
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(26)	(1,648)
Unrealized Loss, Twelve Months or Longer	(5)	(102)
Unrealized Loss, Total	(31)	(1,750)
Investment grade [Member] | Corporates [Member]
Fair Value
Fair Value, Less than Twelve Months	513,334	4,252,191
Fair Value, Twelve Months or Longer	2,272,240	993,483
Fair Value, Total	2,785,574	5,245,674
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(14,311)	(226,611)
Unrealized Loss, Twelve Months or Longer	(111,175)	(103,390)
Unrealized Loss, Total	(125,486)	(330,001)
Investment grade [Member] | Corporates [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	69,791	931,161
Fair Value, Twelve Months or Longer	388,946	241,442
Fair Value, Total	458,737	1,172,603
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(1,004)	(36,337)
Unrealized Loss, Twelve Months or Longer	(15,440)	(21,572)
Unrealized Loss, Total	(16,444)	(57,909)
Investment grade [Member] | Corporates [Member] | Utilities [Member]
Fair Value
Fair Value, Less than Twelve Months	2,023	329,753
Fair Value, Twelve Months or Longer	177,061	121,308
Fair Value, Total	179,084	451,061
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(2)	(11,680)
Unrealized Loss, Twelve Months or Longer	(5,553)	(9,442)
Unrealized Loss, Total	(5,555)	(21,122)
Investment grade [Member] | Corporates [Member] | Energy [Member]
Fair Value
Fair Value, Less than Twelve Months	48,948	475,736
Fair Value, Twelve Months or Longer	145,645	54,937
Fair Value, Total	194,593	530,673
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(693)	(29,426)
Unrealized Loss, Twelve Months or Longer	(7,662)	(9,382)
Unrealized Loss, Total	(8,355)	(38,808)
Investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value
Fair Value, Less than Twelve Months	392,572	2,515,541
Fair Value, Twelve Months or Longer	1,560,588	575,796
Fair Value, Total	1,953,160	3,091,337
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(12,612)	(149,168)
Unrealized Loss, Twelve Months or Longer	(82,520)	(62,994)
Unrealized Loss, Total	(95,132)	(212,162)
Investment grade [Member] | Other asset-backed securities [Member]
Fair Value
Fair Value, Less than Twelve Months	98	44,603
Fair Value, Twelve Months or Longer	4,463	0
Fair Value, Total	4,561	44,603
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	(634)
Unrealized Loss, Twelve Months or Longer	(23)	0
Unrealized Loss, Total	(23)	(634)
Below investment grade [Member]
Fair Value
Fair Value, Less than Twelve Months	60,613	239,947
Fair Value, Twelve Months or Longer	273,146	199,862
Fair Value, Total	333,759	439,809
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(3,228)	(23,087)
Unrealized Loss, Twelve Months or Longer	(75,008)	(70,120)
Unrealized Loss, Total	(78,236)	(93,207)
Below investment grade [Member] | States, municipalities, and political subdivisions [Member]
Fair Value
Fair Value, Less than Twelve Months	85	0
Fair Value, Twelve Months or Longer	0	0
Fair Value, Total	85	0
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(143)	0
Unrealized Loss, Twelve Months or Longer	0	0
Unrealized Loss, Total	(143)	0
Below investment grade [Member] | Corporates [Member]
Fair Value
Fair Value, Less than Twelve Months	46,396	239,947
Fair Value, Twelve Months or Longer	259,034	186,276
Fair Value, Total	305,430	426,223
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(2,742)	(23,087)
Unrealized Loss, Twelve Months or Longer	(69,120)	(63,706)
Unrealized Loss, Total	(71,862)	(86,793)
Below investment grade [Member] | Corporates [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	0	22,087
Fair Value, Twelve Months or Longer	104,759	81,101
Fair Value, Total	104,759	103,188
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	(8,674)
Unrealized Loss, Twelve Months or Longer	(28,021)	(20,932)
Unrealized Loss, Total	(28,021)	(29,606)
Below investment grade [Member] | Corporates [Member] | Utilities [Member]
Fair Value
Fair Value, Less than Twelve Months	0	28,613
Fair Value, Twelve Months or Longer	12,648	0
Fair Value, Total	12,648	28,613
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	(3,277)
Unrealized Loss, Twelve Months or Longer	(4,135)	0
Unrealized Loss, Total	(4,135)	(3,277)
Below investment grade [Member] | Corporates [Member] | Energy [Member]
Fair Value
Fair Value, Less than Twelve Months	11,207	42,874
Fair Value, Twelve Months or Longer	47,260	36,122
Fair Value, Total	58,467	78,996
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(589)	(3,901)
Unrealized Loss, Twelve Months or Longer	(18,465)	(19,662)
Unrealized Loss, Total	(19,054)	(23,563)
Below investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value
Fair Value, Less than Twelve Months	35,189	146,373
Fair Value, Twelve Months or Longer	94,367	69,053
Fair Value, Total	129,556	215,426
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(2,153)	(7,235)
Unrealized Loss, Twelve Months or Longer	(18,499)	(23,112)
Unrealized Loss, Total	(20,652)	(30,347)
Below investment grade [Member] | Collateralized debt obligations [Member]
Fair Value
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	14,112	13,586
Fair Value, Total	14,112	13,586
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(5,888)	(6,414)
Unrealized Loss, Total	(5,888)	(6,414)
Below investment grade [Member] | Other asset-backed securities [Member]
Fair Value
Fair Value, Less than Twelve Months	14,132	0
Fair Value, Twelve Months or Longer	0	0
Fair Value, Total	14,132	0
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(343)	0
Unrealized Loss, Twelve Months or Longer	0	0
Unrealized Loss, Total	$ (343)	$ 0

Liability for Unpaid Claims - S

Liability for Unpaid Claims - Summary of Liability for Unpaid Health Claims (Details) - Health Insurance [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Activity in the Liability for Unpaid Health Claims
Balance at beginning of period	$ 154,528	$ 146,865
Incurred related to:
Current year	151,230	134,542
Prior years	1,166	(5,001)
Total incurred	152,396	129,541
Paid related to:
Current year	60,055	55,130
Prior years	88,445	78,722
Total paid	148,500	133,852
Balance at end of period	$ 158,424	$ 142,554

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Policy claims and other benefits payable:
Life insurance	$ 198,870	$ 196,298
Total	357,294	350,826
Health Insurance [Member]
Policy claims and other benefits payable:
Total	$ 158,424	$ 154,528

Postretirement Benefits - Pensi

Postretirement Benefits - Pension Assets by Components at Fair Value (Detail) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 418,079	$ 392,672
% to Total	100.00%	100.00%
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 191,297	$ 170,822
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	226,782	221,850
Financial [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 42,967	$ 44,236
% to Total	10.00%	11.00%
Financial [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 42,967	$ 44,236
Utilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 40,077	$ 39,443
% to Total	10.00%	10.00%
Utilities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 40,077	$ 39,443
Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 20,765	$ 19,744
% to Total	5.00%	5.00%
Energy [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 20,765	$ 19,744
Other corporates [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 86,217	$ 83,202
% to Total	21.00%	22.00%
Other corporates [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 86,217	$ 83,202
Corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 190,026	$ 186,625
% to Total	46.00%	48.00%
Corporate bonds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 190,026	$ 186,625
Exchange traded fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 178,120	$ 157,717
% to Total	43.00%	40.00%
Exchange traded fund [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 178,120	$ 157,717
Other bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 249	$ 245
% to Total	0.00%	0.00%
Other bonds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 249	$ 245
Other long-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 9,903	$ 8,475
% to Total	2.00%	2.00%
Other long-term investments [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 9,903	$ 8,475
Guaranteed annuity contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 26,604	$ 26,505
% to Total	6.00%	7.00%
Guaranteed annuity contract [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 26,604	$ 26,505
Short-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 8,212	$ 9,289
% to Total	2.00%	2.00%
Short-term investments [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 8,212	$ 9,289
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 4,965	$ 3,816
% to Total	1.00%	1.00%
Other [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 4,965	$ 3,816

Postretirement Benefits - Activ

Postretirement Benefits - Activity for the SERP (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Premiums paid for insurance coverage	$ 444	$ 2,997
Company owned life insurance	45,021	44,285
Exchange traded funds	56,926	52,659
Total investments	$ 101,947	$ 96,944

Postretirement Benefits - Pen_2

Postretirement Benefits - Pension Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 584,653	$ 556,199
Qualified plan [Member] | Funded plan [Member] | Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	509,998	481,792
Nonqualified plan [Member] | SERP [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 74,655	$ 74,407

Postretirement Benefits - Summa

Postretirement Benefits - Summary of Post-Retirement Benefit Costs by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Retirement Benefits [Abstract]
Service cost	$ 4,982	$ 5,277
Interest cost	5,964	5,493
Expected return on assets	(6,966)	(6,363)
Amortization:
Prior service cost	158	119
Actuarial (gain) loss	1,894	3,636
Net periodic benefit cost	$ 6,032	$ 8,162

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Weighted - Average Shares Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	110,301,527	114,179,084
Weighted average dilutive options outstanding (in shares)	2,027,348	2,570,418
Diluted weighted average shares outstanding (in shares)	112,328,875	116,749,502
Antidilutive shares (in shares)	1,846,151	535,143

Business Segments - Reconciliat

Business Segments - Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Premium	$ 890,973	$ 850,106
Net investment income	226,673	218,084
Other income	241	295
Total revenue	1,117,887	1,068,485
Expenses:
Policy benefits	587,757	569,889
Required interest on reserves	0	0
Required interest on DAC	0	0
Amortization of acquisition costs	135,822	129,620
Commissions, premium taxes, and non-deferred acquisition costs	73,465	69,639
Insurance administrative expense	59,591	55,472
Parent expense	2,643	2,292
Stock-based compensation expense	10,559	9,060
Interest expense	21,278	21,622
Total benefits and expenses	891,115	857,594
Subtotal	226,772	210,891
Non-operating items	400	0
Measure of segment profitability (pretax)	227,172	210,891
Realized gain (loss)—investments	1,329	1,951
Add (deduct) administrative settlements	(400)
Income before income taxes	228,101	212,842
Administrative settlements	400
Operating Segments [Member] | Life [Member]
Revenue:
Premium	624,289	598,303
Total revenue	624,289	598,303
Expenses:
Policy benefits	409,692	400,581
Required interest on reserves	(163,662)	(156,214)
Required interest on DAC	50,024	47,944
Amortization of acquisition costs	108,290	103,777
Commissions, premium taxes, and non-deferred acquisition costs	50,106	47,394
Total benefits and expenses	454,450	443,482
Subtotal	169,839	154,821
Measure of segment profitability (pretax)	169,839	154,821
Operating Segments [Member] | Health [Member]
Revenue:
Premium	266,684	251,798
Total revenue	266,684	251,798
Expenses:
Policy benefits	170,017	160,619
Required interest on reserves	(21,496)	(20,404)
Required interest on DAC	6,283	6,013
Amortization of acquisition costs	27,014	25,257
Commissions, premium taxes, and non-deferred acquisition costs	23,352	22,265
Total benefits and expenses	205,170	193,750
Subtotal	61,514	58,048
Measure of segment profitability (pretax)	61,514	58,048
Operating Segments [Member] | Annuity [Member]
Revenue:
Premium	0	5
Total revenue	0	5
Expenses:
Policy benefits	8,048	8,689
Required interest on reserves	(11,120)	(12,017)
Required interest on DAC	131	153
Amortization of acquisition costs	518	586
Commissions, premium taxes, and non-deferred acquisition costs	7	8
Total benefits and expenses	(2,416)	(2,581)
Subtotal	2,416	2,586
Measure of segment profitability (pretax)	2,416	2,586
Operating Segments [Member] | Investment [Member]
Revenue:
Net investment income	226,673	218,084
Total revenue	226,673	218,084
Expenses:
Required interest on reserves	196,278	188,635
Required interest on DAC	(56,438)	(54,110)
Interest expense	21,278	21,622
Total benefits and expenses	161,118	156,147
Subtotal	65,555	61,937
Measure of segment profitability (pretax)	65,555	61,937
Operating Segments [Member] | Other & Corporate [Member]
Revenue:
Other income	241	323
Total revenue	241	323
Expenses:
Insurance administrative expense	59,191	55,472
Parent expense	2,643	2,292
Stock-based compensation expense	10,559	9,060
Total benefits and expenses	72,393	66,824
Subtotal	(72,152)	(66,501)
Measure of segment profitability (pretax)	(72,152)	(66,501)
Adjustments [Member]
Revenue:
Other income		(28)
Total revenue		(28)
Expenses:
Policy benefits		0
Commissions, premium taxes, and non-deferred acquisition costs		(28)
Insurance administrative expense	400
Total benefits and expenses	400	(28)
Subtotal	(400)	0
Non-operating items	$ 400
Measure of segment profitability (pretax)		$ 0

Uncategorized Items - tmk-20190

Label	Element	Value	[1]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 4,896,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(497,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,896,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (497,000)
[1]	See further discussion in Note 2—New Accounting Standards.