Globe Life (GL) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-08052
Entity Registrant Name	GLOBE LIFE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-0780404
Entity Address, Address Line One	3700 South Stonebridge Drive
Entity Address, City or Town	McKinney
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75070
City Area Code	972
Local Phone Number	569-4000
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	GL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000320335
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding		104,661,999

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2020—$16,892,054; 2019—$16,415,776, allowance for credit losses: 2020— $4,387; 2019— $0)	$ 20,277,056	$ 18,907,147
Policy loans	581,211	575,492
Other long-term investments (includes: 2020—$326,641; 2019—$185,851 under the fair value option)	492,884	326,347
Short-term investments	263,879	38,285
Total investments	21,615,030	19,847,271
Cash	80,101	75,933
Accrued investment income	259,697	245,129
Other receivables	458,359	441,662
Deferred acquisition costs	4,517,255	4,341,941
Goodwill	441,591	441,591
Other assets	669,860	583,933
Total assets	28,041,893	25,977,460
Liabilities:
Future policy benefits	15,045,864	14,508,134
Unearned and advance premium	64,703	63,709
Policy claims and other benefits payable	367,453	365,402
Other policyholders' funds	97,463	96,282
Total policy liabilities	15,575,483	15,033,527
Current and deferred income taxes	1,682,060	1,476,832
Short-term debt	279,758	298,738
Long-term debt (estimated fair value: 2020—$1,842,164; 2019—$1,473,364)	1,667,506	1,348,988
Other liabilities	612,178	525,068
Total liabilities	19,816,985	18,683,153
Commitments and Contingencies (Note 5)
Shareholders' equity:
Preferred stock, par value $1 per share—5,000,000 shares authorized; outstanding: 0 in 2020 and 2019	0	0
Common stock, par value $1 per share—320,000,000 shares authorized; outstanding: (2020—117,218,183 issued; 2019— 117,218,183 issued)	117,218	117,218
Additional paid-in-capital	536,727	531,554
Accumulated other comprehensive income (loss)	2,550,619	1,844,830
Retained earnings	6,002,407	5,551,329
Treasury stock, at cost: (2020—12,160,518 shares; 2019—9,497,940 shares)	(982,063)	(750,624)
Total shareholders' equity	8,224,908	7,294,307
Total liabilities and shareholders' equity	$ 28,041,893	$ 25,977,460

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fixed maturities, available for sale, amortized cost	$ 16,892,054	$ 16,415,776
Fixed maturities, available for sale, allowance for credit losses	4,387	0
Other long-term investments under fair value option	492,884	326,347
Total long-term debt, fair value	$ 1,842,164	$ 1,473,364
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)	117,218,183	117,218,183
Common stock, shares outstanding (in shares)	117,218,183	117,218,183
Common stock, shares held in treasury (in shares)	12,160,518	9,497,940
Partnership Interest - Fair Value Option | Investment in limited partnerships
Other long-term investments under fair value option	$ 326,641	$ 185,851

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Premium	$ 961,817	$ 899,993	$ 2,845,354	$ 2,688,450
Net investment income	231,432	228,905	691,991	683,003
Realized gains (losses)	1,501	11,943	(29,386)	18,426
Other income	292	438	1,021	1,077
Total revenue	1,195,042	1,141,279	3,508,980	3,390,956
Benefits and expenses:
Life policyholder benefits	459,231	406,963	1,340,746	1,227,616
Health policyholder benefits	184,237	170,875	546,444	511,403
Other policyholder benefits	7,508	7,854	22,571	23,792
Total policyholder benefits	650,976	585,692	1,909,761	1,762,811
Amortization of deferred acquisition costs	140,843	138,449	430,840	412,436
Commissions, premium taxes, and non-deferred acquisition costs	74,614	74,139	229,691	221,302
Other operating expense	75,397	74,575	226,693	226,412
Interest expense	21,674	21,094	65,295	63,804
Total benefits and expenses	963,504	893,949	2,862,280	2,686,765
Income before income taxes	231,538	247,330	646,700	704,191
Income tax benefit (expense)	(42,593)	(45,512)	(119,167)	(130,370)
Income from continuing operations	188,945	201,818	527,533	573,821
Loss (income) from discontinued operations, net of income taxes	0	0	0	(92)
Net income	$ 188,945	$ 201,818	$ 527,533	$ 573,729
Basic net income (loss) per common share:
Continuing operations (in dollars per share)	$ 1.78	$ 1.85	$ 4.95	$ 5.24
Discontinued operations (in dollars per share)	0	0	0	0
Total basic net income per common share (in dollars per share)	1.78	1.85	4.95	5.24
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	1.76	1.82	4.90	5.14
Discontinued operations (in dollars per share)	0	0	0	0
Total diluted net income per common share (in dollars per share)	$ 1.76	$ 1.82	$ 4.90	$ 5.14
Life premium
Revenue:
Premium	$ 674,021	$ 630,824	$ 1,994,473	$ 1,886,314
Health premium
Revenue:
Premium	287,795	269,166	850,877	802,132
Other premium
Revenue:
Premium	$ 1	$ 3	$ 4	$ 4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income	$ 188,945	$ 201,818	$ 527,533	$ 573,729
Unrealized gains (losses) on securities:
Unrealized gains (losses)	393,387	639,378	884,757	2,052,553
Less applicable tax (expense) benefit	(82,612)	(134,272)	(185,800)	(431,037)
Unrealized gains (losses) on investments, net of tax	310,775	505,106	698,957	1,621,516
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	385	402	1,150	(2,627)
Less applicable tax (expense) benefit	(81)	(84)	(242)	552
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	304	318	908	(2,075)
Foreign exchange translation:
Foreign exchange translation adjustments, other than securities	5,522	(4,082)	(4,973)	(1,031)
Less applicable tax (expense) benefit	(1,158)	858	1,045	218
Foreign exchange translation adjustments, other than securities, net of tax	4,364	(3,224)	(3,928)	(813)
Pension:
Amortization of pension costs	4,156	2,117	12,471	6,355
Less applicable tax (expense) benefit	(873)	(443)	(2,619)	(1,334)
Pension adjustments, net of tax	3,283	1,674	9,852	5,021
Other comprehensive income (loss)	318,726	503,874	705,789	1,623,649
Comprehensive income (loss)	507,671	705,692	1,233,322	2,197,378
Securities
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during period	380,299	649,270	861,871	2,057,614
Other reclassification adjustments included in net income	11,838	(11,020)	37,060	(14,307)
Foreign exchange adjustment on securities recorded at fair value	1,250	(301)	(914)	183
Unrealized gains (losses)	393,387	637,949	898,017	2,043,490
Other investments
Unrealized gains (losses) on securities:
Unrealized gains (losses)	$ 0	$ 1,429	$ (13,260)	$ 9,063

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment		Cumulative Effect, Period Of Adoption, Adjusted Balance	Preferred Stock	Preferred StockCumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In CapitalCumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings	Retained EarningsCumulative Effect, Period Of Adoption, Adjustment		Retained EarningsCumulative Effect, Period Of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period Of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2018	$ 5,415,177	$ (497)	[1]	$ 5,414,680	$ 0	$ 0	$ 121,218	$ 121,218	$ 524,414	$ 524,414	$ 319,475	$ 319,475	$ 5,213,468	$ (497)	[1]	$ 5,212,971	$ (763,398)	$ (763,398)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	735,937										550,592		185,345
Common dividends declared	(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
Ending balance at Mar. 31, 2019	$ 6,043,426	105			0		121,218		518,529		870,067		5,364,820	105			(831,208)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Beginning balance at Dec. 31, 2018	$ 5,415,177	(497)	[1]	5,414,680	0	0	121,218	121,218	524,414	524,414	319,475	319,475	5,213,468	(497)	[1]	5,212,971	(763,398)	(763,398)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	2,197,378
Ending balance at Sep. 30, 2019	7,312,531				0		121,218		538,051		1,943,124		5,686,636				(976,498)
Beginning balance at Mar. 31, 2019	6,043,426	105			0		121,218		518,529		870,067		5,364,820	105			(831,208)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	755,749										569,183		186,566
Common dividends declared	(18,838)												(18,838)
Acquisition of treasury stock	(119,201)																(119,201)
Stock-based compensation	11,256								7,989								3,267
Exercise of stock options	27,901												(18,136)				46,037
Ending balance at Jun. 30, 2019	6,700,398				0		121,218		526,518		1,439,250		5,514,517				(901,105)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	705,692										503,874		201,818
Common dividends declared	(18,695)												(18,695)
Acquisition of treasury stock	(104,372)																(104,372)
Stock-based compensation	11,533								11,533
Exercise of stock options	17,975												(11,004)				28,979
Ending balance at Sep. 30, 2019	7,312,531				0		121,218		538,051		1,943,124		5,686,636				(976,498)
Beginning balance at Dec. 31, 2019	7,294,307	(454)	[2]	7,293,853	0	0	117,218	117,218	531,554	531,554	1,844,830	1,844,830	5,551,329	(454)	[2]	5,550,875	(750,624)	(750,624)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	(613,043)										(778,583)		165,540
Common dividends declared	(19,963)												(19,963)
Acquisition of treasury stock	(166,729)																(166,729)
Stock-based compensation	9,356								(12,126)				(482)				21,964
Exercise of stock options	16,808												(9,539)				26,347
Ending balance at Mar. 31, 2020	$ 6,520,282				0		117,218		519,428		1,066,247		5,686,431				(869,042)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance at Dec. 31, 2019	$ 7,294,307	$ (454)	[2]	$ 7,293,853	0	$ 0	117,218	$ 117,218	531,554	$ 531,554	1,844,830	$ 1,844,830	5,551,329	$ (454)	[2]	$ 5,550,875	(750,624)	$ (750,624)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	1,233,322
Ending balance at Sep. 30, 2020	$ 8,224,908				0		117,218		536,727		2,550,619		6,002,407				(982,063)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance at Mar. 31, 2020	$ 6,520,282				0		117,218		519,428		1,066,247		5,686,431				(869,042)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	1,338,694										1,165,646		173,048
Common dividends declared	(19,956)												(19,956)
Stock-based compensation	8,632								8,632
Exercise of stock options	717												(593)				1,310
Ending balance at Jun. 30, 2020	7,848,369				0		117,218		528,060		2,231,893		5,838,930				(867,732)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	507,671										318,726		188,945
Common dividends declared	(19,692)												(19,692)
Acquisition of treasury stock	(129,919)																(129,919)
Stock-based compensation	8,667								8,667
Exercise of stock options	9,812												(5,776)				15,588
Ending balance at Sep. 30, 2020	$ 8,224,908				$ 0		$ 117,218		$ 536,727		$ 2,550,619		$ 6,002,407				$ (982,063)
[1]	Adoption of ASU 2016-02, Leases (Topic 842) , on January 1, 2019.
[2]	Adoption of Accounting Standard Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, on January 1, 2020. See more information in Note 2—New Accounting Standards .

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common dividends declared, per share (in dollars per share)	$ 0.1875	$ 0.1875	$ 0.1875	$ 0.1725	$ 0.1725	$ 0.1725

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Cash provided from (used for) operating activities	$ 1,078,616	$ 1,030,175
Cash provided from (used for) investing activities:
Fixed maturities available for sale—sold	52,681	62,151
Fixed maturities available for sale—matured or other redemptions	333,631	604,701
Other long-term investments	35,547	0
Total investments sold or matured	421,859	666,852
Acquisition of investments:
Fixed maturities—available for sale	(905,371)	(1,056,822)
Other long-term investments	(213,075)	(107,660)
Total investments acquired	(1,118,446)	(1,164,482)
Net (increase) decrease in policy loans	(5,719)	(18,826)
Net (increase) decrease in short-term investments	(225,594)	(5,270)
Additions to properties	(28,790)	(30,049)
Other investing activities	(7,099)	32
Investments in low-income housing interests	(28,669)	(16,824)
Cash provided from (used for) investing activities	(992,458)	(568,567)
Cash provided from (used for) financing activities:
Issuance of common stock	27,337	57,573
Cash dividends paid to shareholders	(58,503)	(55,493)
Repayment of debt	(386,875)	(5,000)
Proceeds from issuance of debt	700,000	0
Payment for debt issuance costs	(5,844)	0
Net borrowing (repayment) of commercial paper	(9,605)	(76,409)
Acquisition of treasury stock	(296,648)	(334,469)
Net receipts (payments) from deposit-type products	(56,858)	(95,626)
Cash provided from (used for) financing activities	(86,996)	(509,424)
Effect of foreign exchange rate changes on cash	5,006	(6,535)
Net increase (decrease) in cash	4,168	(54,351)
Cash at beginning of year	75,933	121,026
Cash at end of period	$ 80,101	$ 66,675

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Note 1—Significant Accounting Policies Business : "Globe Life", the "Company", refer to Globe Life Inc., an insurance holding company incorporated in Delaware in 1979, and Globe Life Inc. subsidiaries and affiliates. Globe Life Inc.'s direct or indirect primary subsidiaries are Globe Life And Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, Family Heritage Life Insurance Company of America, and United American Insurance Company. The underwriting companies are owned by their ultimate corporate parent, Globe Life Inc. (the "Parent Company"). Basis of Presentation: The accompanying condensed consolidated financial statements of Globe Life 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 September 30, 2020, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended September 30, 2020 and 2019. 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 February 27, 2020. Significant Accounting Policies : The following accounting policies were updated since the 2019 Form 10-K due to the adoption of ASU 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13.) On January 1, 2020, the Company adopted ASU 2016-13, replacing the GAAP "incurred loss" model with a new methodology referred to as current expected credit losses (CECL). The previous methodology delayed recognition of credit losses until it was probable that a loss had incurred, ultimately resulting in fewer instances of losses being recorded in earnings. The new CECL methodology is forward looking—encompassing relevant information about historical experience, current conditions, as well as reasonable and supportable forecasts that affect the collectability of a reported amount. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. The standard affected the Company's commercial mortgage loan participations ( Other long-term investments ) and agent debit balances ( Other receivables ). The Company adopted the standard using the modified retrospective method. The Company recorded a cumulative effect adjustment, net of tax of $454 thousand to retained earnings, consisting of $265 thousand and $189 thousand for commercial mortgage loan participations and agent debit balances, respectively. Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 In addition, the standard made changes to the accounting for available-for-sale debt securities through the removal of "other-than-temporary-impairment" (OTTI) write downs and replaced them with an allowance for credit losses. The new methodology will allow the Company to record reversals of credit losses in situations where the estimate of credit losses declines through current period net income ( Realized gains (losses) ). The Company adopted the standard using the prospective transition approach for available-for-sale fixed maturities for which OTTI had been recognized prior to January 1, 2020. As a result, the amortized cost basis and the effective interest rate remain unchanged after the adoption of ASU 2016-13. Amortized cost will now be reflected as "amortized cost, net of allowance for credit losses" or "amortized cost, net." The Company has not elected the fair value option for any financial assets recorded at amortized cost that would be in scope of this standard. Investments, Available-For-Sale Fixed Maturities : Globe Life classifies all of its fixed maturity investments as available for sale. Investments classified as available for sale are carried at fair value with unrealized gains and losses, net of taxes reflected directly in Accumulated other comprehensive income ("AOCI"). Income from investments is recorded in net investment income on the Condensed Consolidated Statements of Operations . Gains and losses from sales, maturities, or other redemptions of investments are recorded in Realized gains (losses) . Interest income and prepayment fees are recognized when earned. Premiums and discounts are amortized using the interest method. When amortized cost of a callable debt security exceeds the first call price, the premium is amortized to the earliest call date. Otherwise, the period of amortization or accretion generally extends from the purchase date to the maturity date. Accrued investment income consists of interest income or dividends earned on the investment portfolio, but which are yet to be received as of the balance sheet date. The Company will write-off accrued investment income that is deemed to be uncollectable related to the fixed maturities. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the fixed maturity and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . Investments, Allowance For Credit Losses For Available-For-Sale Fixed Maturities : At the onset of the evaluation, the Company individually assesses each fixed maturity to determine whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria are met, the Company will write down the fixed maturity's amortized cost basis to fair value through Realized gains (losses) . If neither of the aforementioned criteria are met, the Company will evaluate whether the decline in fair value has resulted from a credit event. The Company will evaluate many factors, as further described below, to determine the present value of the expected cash flows. A credit loss occurs when the present value of the expected cash flows is less than the amortized cost basis. This will result in the recording of an allowance for credit losses as a contra asset account to the amortized cost basis with an offsetting provision for credit losses in Realized gains (losses) on the Condensed Consolidated Statement of Operations . Additionally, the CECL methodology includes a fair value floor where the allowance for credit loss for a security cannot exceed the difference between fair value and amortized cost. When it is determined that there is not a credit loss, the decline in fair value is recognized in Other comprehensive income . All changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses recorded to the allowance for credit losses are management's best estimate of the uncollectability of principal and interest of a fixed maturity. The evaluation of Globe Life's securities for credit losses is a process that is undertaken at least quarterly and is overseen by a team of investment and accounting professionals. The process for making this determination is highly subjective and involves the careful consideration of many factors. The factors considered include, but are not limited to: • The Company’s ability and intent to hold the security until anticipated recovery • The reason(s) for the impairment • The financial condition of the issuer and the prospects for recovery in fair value of the security • Expected future cash flows The relative weight given to each of these factors can change over time as facts and circumstances change. In many cases, management believes it is appropriate to give more consideration to prospective factors than to retrospective factors. Prospective factors that are given more weight include prospects for recovery, the Company’s ability and intent to hold the security until anticipated recovery, and expected future cash flows. Among the facts and information considered in the process are: • Financial statements of the issuer • Changes in credit ratings of the issuer • The value of underlying collateral • News and information included in press releases issued by the issuer • News and information reported in the media concerning the issuer • News and information published by or otherwise provided by securities, economic, or research analysts • The nature and amount of recent and expected future sources and uses of cash • Default on a required payment • Corporate actions such as issuer bankruptcy filings or exchanges The expected cash flows are determined using judgment and the best information available to the Company. Inputs used to derive expected cash flows generally include expected default rates, current levels of subordination, and estimated recovery rate. The discount rate utilized in the discounted cash flows is the effective interest rate, which is the rate of return implicit in the asset at acquisition. Investments, Commercial Mortgage Loan Participations (Commercial Mortgage Loans) : Commercial mortgage loans, a type of investment where the commercial mortgage loan is shared among investors, are accounted for as financing receivables. The commercial mortgage loans are managed by a third party. The Company purchased the legal rights to interests in commercial mortgage loans that are secured by properties such as hotels, retail, multiple family, or offices. The commercial mortgage loans typically have a term of three years with an option to extend up to two years. The commercial mortgage loans are recorded at unpaid principal balance, net of unamortized origination fees and net of allowance for loan losses. Interest income, net of the amortization of origination fees, is recorded in Net investment income under the effective yield method. Accrued investment income on the Condensed Consolidated Balance Sheets consists of interest income earned on the commercial mortgage loan portfolio, but which is yet to be received as of the balance sheet date. Accrued investment income will be placed in nonaccrual status at the time the loan is 90 days delinquent or otherwise deemed to be uncollectable by management. Any currently accrued investment income will subsequently be written off. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the commercial mortgage loans and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . As of September 30, 2020, the accrued interest receivable for commercial mortgage loans was $457 thousand. Commercial mortgage loans generally pay interest monthly, therefore accrued interest is typically for a period of less than 30 days. The unfunded commitment balance was $81 million as of September 30, 2020. The Company evaluates the performance and credit quality of the commercial mortgage loan portfolio at least on a quarterly basis, or as needed, by utilizing common metrics such as loan-to-value and debt service coverage ratios as well as evaluating the fair value of the underlying collateral. The fair value of the underlying collateral is based on a third-party appraisal of the property at origination of the loan, and is reviewed on an annual basis thereafter, or more frequently when a loan is materially underperforming, 30 days delinquent, or in technical default. The Company determines the probability of estimated losses for the commercial mortgage loan portfolio on a pool basis each quarter and records an allowance. The allowance for credit losses is based on estimates, historical experience, probability of loss, value of the underlying collateral, and macro factors that affect the collectability of the loan. Each loan within the pool is assigned a risk rating (credit quality indicator) of low, medium, and high based on risk and expected future performance. A loan that is assigned as high risk would have a higher probability of a potential principal loss. The assigned risk category and the estimated loss rate is adjusted each quarter for current and forecasted economic factors management believes are relevant. If management determines that foreclosure of a particular property is probable, the Company may elect the practical expedient for an individual mortgage loan to estimate the expected credit losses, which are based on the fair value of the property less amortized cost, adjusted for selling and other associated costs. See Note 4 for current activity. Other Receivables, Agent Debit Balances : Agent debit balances primarily represent commissions advanced to insurance agents, a common industry practice. These balances are repaid to the Company over time, generally one year, as the premiums associated with the advanced commissions are collected by the Company and a portion of the agents' commissions on such premiums are retained in order to repay the balances. The balances were $438 million at September 30, 2020 and $424 million at December 31, 2019. When an agent sells a policy, commissions are advanced to the agent, and the collection of the advance is made as long as the policy stays in force. While there is a susceptibility to loss should an agent terminate or excessive policy lapses occur, the ability of the Company to continue to collect an agent's commission streams over time from prior sales of policies reduces the Company's exposure to loss. The Company has a very low inherent risk with regards to the collection of agent debit balances and views these balances as recoverable since they are, in aggregate, less than the estimated present value of future commissions discounted at a conservative rate which includes assumptions for lapses and mortality. The Company’s security, or collateral, is in the form of future commission streams collected over the life of the policies sold by the respective agents, which ultimately revert to the Company in the event an agent is terminated. The Company evaluated the agent debit balances on a pool basis to determine the allowance for credit losses, as the loans have similar characteristics. A provision for credit losses will be recorded in Realized gains (losses) on the Condensed Consolidated Statement of Operations and the asset balance will be reflected as Agent Debit Balances, net of allowance for credit losses ( Other receivables ). Based on factors considered by management, there were no additional credit losses recorded during the three months ended September 30, 2020. As of September 30, 2020, the allowance for credit losses was $1.2 million compared with $1.0 million as of December 31, 2019.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	Note 2—New Accounting Standards Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. 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. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. 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 to defined benefit plans. 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 standard to have a material impact on the consolidated financial statements. ASU No. 2020-08 , Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The standard was issued as an amendment to ASU 2017-08, and clarifies that callable debt securities with a premium should be amortized to the next call date. This standard is effective beginning January 1, 2021, and will be applied prospectively. Early adoption is not permitted. The Company does not expect the adoption of this standard to have an impact on the consolidated financial statements.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Supplemental Information about Changes to Accumulated Other Comprehensive Income	Note 3—Supplemental Information about Changes to Accumulated Other Comprehensive Income Components 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 and nine month periods ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 Available Deferred Foreign Pension Total Balance at July 1, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Other comprehensive income (loss) before reclassifications, net of tax 301,423 304 4,364 — 306,091 Reclassifications, net of tax 9,352 — — 3,283 12,635 Other comprehensive income (loss) 310,775 304 4,364 3,283 318,726 Balance at September 30, 2020 $ 2,681,607 $ (5,008) $ 8,130 $ (134,110) $ 2,550,619 Three Months Ended September 30, 2019 Available Deferred Foreign Pension Total Balance at July 1, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250 Other comprehensive income (loss) before reclassifications, net of tax 513,812 318 (3,224) — 510,906 Reclassifications, net of tax (8,706) — — 1,674 (7,032) Other comprehensive income (loss) 505,106 318 (3,224) 1,674 503,874 Balance at September 30, 2019 $ 2,057,214 $ (6,238) $ 5,682 $ (113,534) $ 1,943,124 Nine Months Ended September 30, 2020 Available Deferred Foreign Pension Total Balance at January 1, 2020 $ 1,982,650 $ (5,916) $ 12,058 $ (143,962) $ 1,844,830 Other comprehensive income (loss) before reclassifications, net of tax 669,680 908 (3,928) — 666,660 Reclassifications, net of tax 29,277 — — 9,852 39,129 Other comprehensive income (loss) 698,957 908 (3,928) 9,852 705,789 Balance at September 30, 2020 $ 2,681,607 $ (5,008) $ 8,130 $ (134,110) $ 2,550,619 Nine Months Ended September 30, 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 1,632,819 (2,075) (813) — 1,629,931 Reclassifications, net of tax (11,303) — — 5,021 (6,282) Other comprehensive income (loss) 1,621,516 (2,075) (813) 5,021 1,623,649 Balance at September 30, 2019 $ 2,057,214 $ (6,238) $ 5,682 $ (113,534) $ 1,943,124 Reclassification adjustments : Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three and nine month periods ended September 30, 2020 and 2019. Three Months Ended Nine Months Ended September 30, Affected line items in the Statement of Operations Component Line Item 2020 2019 2020 2019 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ 10,276 $ (12,430) $ 32,133 $ (18,337) Realized (gains) losses Amortization of (discount) premium 1,562 1,410 4,927 4,030 Net investment income Total before tax 11,838 (11,020) 37,060 (14,307) Tax (2,486) 2,314 (7,783) 3,004 Income taxes Total after-tax 9,352 (8,706) 29,277 (11,303) Pension adjustments: Amortization of prior service cost 158 158 474 474 Other operating expense Amortization of actuarial (gain) loss 3,998 1,959 11,997 5,881 Other operating expense Total before tax 4,156 2,117 12,471 6,355 Tax (873) (443) (2,619) (1,334) Income taxes Total after-tax 3,283 1,674 9,852 5,021 Total reclassification (after-tax) $ 12,635 $ (7,032) $ 39,129 $ (6,282)

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4—Investments Portfolio Composition : Summaries of fixed maturities available for sale by amortized cost, fair value, and allowance for credit losses at September 30, 2020 and December 31, 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows. Redeemable preferred stock is included within the corporates by sector. As noted in Note 1—Significant Accounting Policies , the Company prospectively adopted ASU 2016-13 as of January 1, 2020 for the available-for-sale fixed maturities. Results after January 1, 2020 are presented under ASU 2016-13, while prior periods continue to be reported in accordance with previously applicable GAAP. See additional discussion of the allowance for credit losses later in this note. At September 30, 2020 Allowance for Credit Losses Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 375,836 $ — $ 95,166 $ — $ 471,002 2 States, municipalities, and political subdivisions 1,703,408 — 224,303 (3,887) 1,923,824 10 Foreign governments 44,130 — 3,361 (80) 47,411 — Corporates, by sector: Financial 4,335,786 — 898,119 (43,631) 5,190,274 26 Utilities 1,956,732 — 557,816 (27) 2,514,521 12 Energy 1,623,191 (4,387) 244,236 (24,389) 1,838,651 9 Other corporate sectors 6,664,488 — 1,447,649 (18,713) 8,093,424 40 Total corporates 14,580,197 (4,387) 3,147,820 (86,760) 17,636,870 87 Collateralized debt obligations 56,763 — 21,708 (9,814) 68,657 — Other asset-backed securities 131,720 — 3,446 (5,874) 129,292 1 Total fixed maturities $ 16,892,054 $ (4,387) $ 3,495,804 $ (106,415) $ 20,277,056 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2019 Amortized Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 396,079 $ 41,737 $ (296) $ 437,520 2 States, municipalities, and political subdivisions 1,559,736 158,546 (626) 1,717,656 9 Foreign governments 25,874 2,073 (396) 27,551 — Corporates, by sector: Financial 4,101,917 701,196 (22,307) 4,780,806 25 Utilities 1,937,738 416,114 (1,565) 2,352,287 13 Energy 1,678,969 269,640 (33,725) 1,914,884 10 Other corporate sectors 6,514,677 955,908 (16,765) 7,453,820 40 Total corporates 14,233,301 2,342,858 (74,362) 16,501,797 88 Collateralized debt obligations 56,990 24,298 (7,184) 74,104 — Other asset-backed securities 143,796 5,094 (371) 148,519 1 Total fixed maturities $ 16,415,776 $ 2,574,606 $ (83,235) $ 18,907,147 100 (1) Amount reported in the balance sheet. (2) At fair value. A schedule of fixed maturities available for sale by contractual maturity date at September 30, 2020 is shown below on an amortized cost, net of allowance for credit losses basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At September 30, 2020 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 46,963 $ 47,877 Due after one year through five years 762,252 836,895 Due after five years through ten years 1,794,849 2,118,729 Due after ten years through twenty years 6,027,005 7,578,897 Due after twenty years 8,067,809 9,496,378 Mortgage-backed and asset-backed securities 188,789 198,280 $ 16,887,667 $ 20,277,056 Analysis of Investment Operations: Net investment income for the three and nine month periods ended September 30, 2020 and 2019 is summarized as follows: Three Months Ended Nine Months Ended 2020 2019 % Change 2020 2019 % Change Fixed maturities available for sale $ 217,900 $ 216,154 1 $ 652,583 $ 647,784 1 Policy loans 11,241 10,959 3 33,572 32,416 4 Other long-term investments (1) 6,925 5,105 36 18,694 12,484 50 Short-term investments 88 514 (83) 529 2,096 (75) 236,154 232,732 1 705,378 694,780 2 Less investment expense (4,722) (3,827) 23 (13,387) (11,777) 14 Net investment income $ 231,432 $ 228,905 1 $ 691,991 $ 683,003 1 (1) For the three months ended September 30, 2020 and 2019, the investment funds, accounted for under the fair value option method, recorded $4.0 million and $1.5 million, respectively in net investment income. For the nine months ended September 30, 2020 and 2019, the investment funds, accounted for under the fair value option method, recorded $10.5 million and $4.2 million, respectively in net investment income. Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fixed maturities available for sale: Proceeds from sales (1) $ 661 $ 27,154 $ 52,681 $ 62,151 Gross realized gains — 1,031 2,642 1,077 Gross realized losses (38,782) (604) (39,153) (3,631) (1) There were no unsettled sales in the periods ended September 30, 2020 and 2019. An analysis of realized gains (losses) is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ (38,608) $ 12,430 $ (27,746) $ 18,337 Provision for credit losses 28,332 — (4,387) — Fair value option—change in fair value 12,053 (487) (6,798) 197 Other investments 358 — 10,179 (108) Realized gains (losses) from investments 2,135 11,943 (28,752) 18,426 Realized loss on redemption of debt (634) — (634) — 1,501 11,943 (29,386) 18,426 Applicable tax 463 (2,508) 6,949 (3,869) Realized gains (losses), net of tax $ 1,964 $ 9,435 $ (22,437) $ 14,557 (1) During the three months ended September 30, 2020 and 2019, the Company recorded $65.8 million and $43.7 million of exchanges of fixed maturities (noncash transactions) that resulted in $0 and $11.8 million, respectively in realized gains (losses). During the nine months ended September 30, 2020 and 2019, the Company recorded $152.1 million and $161.0 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $20.1 million, respectively in realized gains (losses). Fair Value Measurements: The following tables represent the fair value of fixed maturities measured on a recurring basis at September 30, 2020 and December 31, 2019: Fair Value Measurement at September 30, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 471,002 $ — $ 471,002 States, municipalities, and political subdivisions — 1,923,824 — 1,923,824 Foreign governments — 47,411 — 47,411 Corporates, by sector: Financial — 5,042,580 147,694 5,190,274 Utilities — 2,334,286 180,235 2,514,521 Energy — 1,801,028 37,623 1,838,651 Other corporate sectors — 7,794,758 298,666 8,093,424 Total corporates — 16,972,652 664,218 17,636,870 Collateralized debt obligations — — 68,657 68,657 Other asset-backed securities — 116,324 12,968 129,292 Total fixed maturities $ — $ 19,531,213 $ 745,843 $ 20,277,056 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2019 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 437,520 $ — $ 437,520 States, municipalities, and political subdivisions — 1,717,656 — 1,717,656 Foreign governments — 27,551 — 27,551 Corporates, by sector: Financial — 4,628,875 151,931 4,780,806 Utilities — 2,195,539 156,748 2,352,287 Energy — 1,873,482 41,402 1,914,884 Other corporate sectors — 7,131,773 322,047 7,453,820 Total corporates — 15,829,669 672,128 16,501,797 Collateralized debt obligations — — 74,104 74,104 Other asset-backed securities — 135,342 13,177 148,519 Total fixed maturities $ — $ 18,147,738 $ 759,409 $ 18,907,147 Percentage of total — % 96 % 4 % 100 % The following tables represent changes in fixed maturities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (318) (5,220) 11,324 5,786 Acquisitions — — 17,820 17,820 Sales — — — — Amortization — 3,415 11 3,426 Other (1) 109 (3,642) (38,278) (41,811) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at September 30, 2020 $ 12,968 $ 68,657 $ 664,218 $ 745,843 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) 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. Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Included in realized gains / losses — — — — Included in other comprehensive income 1,043 5,745 34,971 41,759 Acquisitions — — — — Sales — — — — Amortization — 3,459 10 3,469 Other (1) (343) (4,412) (10,710) (15,465) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at September 30, 2019 $ 13,682 $ 78,161 $ 577,742 $ 669,585 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) 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 changes in unrealized gains or (losses) for the period included in other comprehensive income for assets held at the end of the reporting period for Level 3s: Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period Asset- Collateralized Corporates Total At September 30, 2020 $ (318) $ (5,220) $ 11,324 $ 5,786 At September 30, 2019 1,043 5,745 34,971 41,759 Unrealized Loss Analysis : The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Months Twelve Months or Longer Total Number of issues (CUSIPs) held: As of September 30, 2020 172 29 201 As of December 31, 2019 82 51 133 Globe Life's entire fixed maturity portfolio consisted of 1,822 issues by 745 different issuers at September 30, 2020 and 1,633 issues by 656 different issuers at December 31, 2019. The weighted-average quality rating of all unrealized loss positions at amortized cost was BBB- as of September 30, 2020 and December 31, 2019. The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale for which an allowance for credit losses has not been recorded at September 30, 2020. Analysis of Gross Unrealized Investment Losses At September 30, 2020 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ — $ — $ — $ — $ — States, municipalities and political subdivisions 142,060 (3,887) — — 142,060 (3,887) Foreign governments 9,514 (80) — — 9,514 (80) Corporates, by sector: Financial 246,528 (5,404) 5,897 (2,603) 252,425 (8,007) Utilities 2,557 (27) — — 2,557 (27) Energy 82,548 (4,161) 15,536 (1,388) 98,084 (5,549) Other corporate sectors 77,577 (2,524) — — 77,577 (2,524) Total corporates 409,210 (12,116) 21,433 (3,991) 430,643 (16,107) Other asset-backed securities 29,744 (4,190) 7 — 29,751 (4,190) Total investment grade securities 590,528 (20,273) 21,440 (3,991) 611,968 (24,264) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 34,614 (5,332) 102,402 (30,292) 137,016 (35,624) Utilities — — — — — — Energy 117,927 (12,588) 43,620 (6,252) 161,547 (18,840) Other corporate sectors 46,728 (9,281) 71,979 (6,908) 118,707 (16,189) Total corporates 199,269 (27,201) 218,001 (43,452) 417,270 (70,653) Collateralized debt obligations — — 10,186 (9,814) 10,186 (9,814) Other asset-backed securities — — 12,339 (1,684) 12,339 (1,684) Total below investment grade securities 199,269 (27,201) 240,526 (54,950) 439,795 (82,151) Total fixed maturities $ 789,797 $ (47,474) $ 261,966 $ (58,941) $ 1,051,763 $ (106,415) Gross unrealized losses may fluctuate quarter over quarter due to adverse factors in the market that affect our holdings, such as changes in interest rates or credit spreads. As noted in Note 1 , the Company considers many factors when determining whether a credit loss exists. While the Company holds securities that may be in an unrealized loss position from time to time, Globe Life does not intend to sell and it is likely that management will not be required to sell the fixed maturities prior to their anticipated recovery due to the strong cash flows generated by its insurance operations. The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2019. Globe Life considered these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At December 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 1,255 $ (2) $ 21,044 $ (294) $ 22,299 $ (296) States, municipalities and political subdivisions 66,774 (626) — — 66,774 (626) Foreign governments 6,496 (396) — — 6,496 (396) Corporates, by sector: Financial 117,389 (1,733) 7,183 (1,317) 124,572 (3,050) Utilities 8,400 (166) — — 8,400 (166) Energy 52,312 (1,058) 1,833 (115) 54,145 (1,173) Other corporate sectors 136,386 (1,584) 61,473 (3,260) 197,859 (4,844) Total corporates 314,487 (4,541) 70,489 (4,692) 384,976 (9,233) Other asset-backed securities — — — — — — Total investment grade securities 389,012 (5,565) 91,533 (4,986) 480,545 (10,551) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial — — 113,481 (19,257) 113,481 (19,257) Utilities 7,529 (135) 14,985 (1,264) 22,514 (1,399) Energy 14,968 (146) 69,956 (32,406) 84,924 (32,552) Other corporate sectors — — 67,655 (11,921) 67,655 (11,921) Total corporates 22,497 (281) 266,077 (64,848) 288,574 (65,129) Collateralized debt obligations — — 12,816 (7,184) 12,816 (7,184) Other asset-backed securities — — 13,879 (371) 13,879 (371) Total below investment grade securities 22,497 (281) 292,772 (72,403) 315,269 (72,684) Total fixed maturities $ 411,509 $ (5,846) $ 384,305 $ (77,389) $ 795,814 $ (83,235) Fixed Maturities, Allowance for Credit Losses : A summary of the activity in the allowance for credit losses is as follows. Refer to Note 1 for factors considered in the recording of the allowance for credit losses. Three Months Ended Nine Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 32,719 $ — $ — $ — Additions to allowance for which credit losses were not previously recorded 4,387 — 37,106 — Additions (reductions) to allowance for fixed maturities that previously had an allowance — — — — Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell or sold during the period (32,719) — (32,719) — Allowance for credit losses ending balance $ 4,387 $ — $ 4,387 $ — An energy holding in our investment portfolio, which had a credit loss allowance of $32.7 million as of June 30, 2020, filed for Chapter 11 bankruptcy on July 31, 2020. On August 3, 2020, management sold all holdings of this company for $660 thousand and recognized an additional realized loss of $6 million. Total realized loss was $38.8 million. An additional $1 million of accrued investment income was written off. As of September 30, 2020 and December 31, 2019, the Company did not have any fixed maturities in non-accrual status. Other Long-Term Investments : Other long-term investments consist of the following assets: September 30, December 31, Investment funds $ 326,641 $ 185,851 Commercial mortgage loan participations 164,902 137,692 Other 1,341 2,804 Total $ 492,884 $ 326,347 The investment funds consist of limited partnerships whereby the Company has a pro-rata share of ownership ranging from 1% to 20%. For each investment, the Company has elected the fair value option, but would have been otherwise accounted for as an equity method investment. The fair value option is assessed for each individual investment and concluded at the inception of the investment. Additionally, each investment is evaluated under ASC 810, Consolidation to determine if it is a variable interest entity and would qualify for consolidation; none of the investments qualify for consolidation as the Company is not the primary beneficiary in any of these investments. The investments are reported at the Company's pro-rata share of the investment fund's net asset value or its equivalent (NAV) as a practical expedient for fair value. Changes in the net asset value are recorded in Realized gains (losses) on the Condensed Consolidated Statements of Operations . Distributions received from the funds arise from income generated by the underlying investments as well as the liquidation of the underlying investments. Periodic distributions are recorded in net investment income until cumulative distributions exceed our pro-rata share of operating earnings at which point the distributions will reduce the carrying value. Our maximum exposure to loss is equal to the outstanding carrying value and future funding commitments. During the quarter, the Company has not committed to any new limited partnerships. The Company had $50 million of capital called during the quarter from existing investment funds, reducing our unfunded commitments. Our unfunded commitments were $408 million as of September 30, 2020. Commercial Mortgage Loan Participations (commercial mortgage loans): Summaries of commercial mortgage loans by property type and geographical location at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Property type: Office $ 41,622 25 $ 42,350 31 Mixed use 48,348 29 27,501 20 Hospitality 23,030 14 22,324 16 Industrial 17,885 11 17,612 13 Retail 19,137 12 17,318 12 Multi-family 18,599 11 10,587 8 Total recorded investment 168,621 102 137,692 100 Less allowance for credit losses (3,719) (2) — — Carrying value, net of allowance for credit losses $ 164,902 100 $ 137,692 100 September 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Geographic location: South Atlantic $ 52,397 32 $ 50,867 37 Pacific 62,297 38 36,546 27 Middle Atlantic 28,268 17 25,328 18 East North Central 10,597 6 10,568 8 West South Central 8,971 5 8,072 6 East South Central 4,700 3 4,676 3 West North Central 1,391 1 — — New England — — 1,635 1 Total recorded investment 168,621 102 137,692 100 Less allowance for credit losses (3,719) (2) — — Carrying value, net of allowance for credit losses $ 164,902 100 $ 137,692 100 As of September 30, 2020, the Company evaluated the commercial mortgage loan portfolio on a pool basis to determine the allowance for credit losses, except for individual loans where the practical expedient was elected. At the end of the period, the Company had 25 loans in the portfolio. As noted in Note 1 , the Company adopted ASU 2016-13 The Company determined that one of the commercial mortgage loans (multi-family) was probable of foreclosure and elected the practical expedient to record the loan at the fair value of the property less amortized cost, adjusted for selling and other associated costs. As of September 30, 2020, the allowance was $1 million. Three Months Ended Nine Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 3,838 $ — $ — $ — Cumulative effect of adoption ASU 2016-13 — — 335 — Provision (reversal) for credit losses (119) — 3,384 — Loans charge-off — — — — Allowance for credit losses ending balance $ 3,719 $ — $ 3,719 $ — The following table presents the aging of the amortized cost basis of delinquent commercial mortgage loans. Loans are considered delinquent after 30 days. As of September 30, 2020 30-59 Days Delinquent 60-89 days Delinquent Greater than 90 Days Delinquent Total Delinquent Commercial mortgage loans $ — $ — $ 3,524 $ 3,524 Number of delinquent commercial mortgage loans — — 1 1 There were no delinquent commercial mortgage loans as of December 31, 2019. As of September 30, 2020, the Company had one commercial mortgage loan in non-accrual status. As of December 31, 2019, the Company did not have any commercial mortgage loans in non-accrual status. Additionally, all other commercial mortgage loans were current with respect to payment status and none of the commercial mortgage loans were classified as a troubled debt restructuring (TDR). The following tables are reflective of the key factors, debt service coverage ratios and loan-to-value ratios (LTVs), that are utilized by management to monitor the performance of the portfolios. The Company primarily invests in commercial mortgage loans that have a loan-to-value ratio less than 80%. Generally, higher LTV ratios can potentially equate to higher risk of loss. September 30, 2020 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 15,282 $ 107,381 $ — $ 122,663 74 70% to 80% 1,368 16,753 — 18,121 11 81% to 90% 7,591 — — 7,591 5 Greater than 90% 5,290 11,237 — 16,527 10 Total $ 29,531 $ 135,371 $ — $ 164,902 100 December 31, 2019 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 64,160 $ 47,634 $ 12,666 $ 124,460 90 70% to 80% 11,445 1,787 — 13,232 10 81% to 90% — — — — — Greater than 90% — — — — — Total $ 75,605 $ 49,421 $ 12,666 $ 137,692 100 (1) Annual net operating income divided by annual mortgage debt service (principal and interest). (2) Loan balance divided by the fair value of the property. LTVs are generally assessed on an annual basis, or more frequently when a loan is materially underperforming, greater than 30 days delinquent, or in technical default.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5—Commitments and Contingencies Globe Life Inc. (formerly Torchmark Corporation) 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 the Parent Company's insurance 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 the Parent Company and its subsidiaries, management does not believe that it is reasonably possible that such litigation will have a material adverse effect on Globe Life'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. Globe Life'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 the Company has 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 in California’s Contra Costa County Superior Court ( Joh v. American Income Life Insurance Company, Case No. C18-01863) ( Joh Action). 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). A second amended complaint was filed on May 20, 2019. The plaintiffs, former insurance sales agents of American Income, are suing on behalf of all current and former trainees and 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 second 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, misclassification and unfair business practices. On October 18, 2018, putative class action litigation was filed against Torchmark Corporation and American Income in California’s Los Angeles County Superior Court ( Golz v. American Income Life Insurance Company , et al., Case No. 18STCV01354) ( Golz Action). 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. On February 6, 2019, Torchmark Corporation was dismissed without prejudice and the case proceeded with respect to American Income. On April 2, 2019, the District Court granted American Income’s motion to dismiss four of the five causes of action asserted. The amended complaint’s remaining claim alleges that plaintiff, as an American Income insurance agent trainee in California, was an employee who should have been compensated accordingly. The plaintiff seeks to represent a class of individuals in California who trained to contract as American Income agents and who subsequently worked as contracted agents. The class period is alleged to begin four years prior to the complaint’s filing. The complaint seeks restitution under the California Business and Professions Code for alleged unfair business practices such as failure to pay minimum wage and overtime, failure to provide meal and rest breaks, and failure to reimburse business expenses. The lawsuit is currently stayed. On December 14, 2018, putative class action litigation was filed against American Income 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) ( Hamilton Action). 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 trainees and 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, misclassification and unfair business practices. With respect to the related cases above, on August 6, 2020, the plaintiffs in the Joh and Hamilton Actions jointly moved for preliminary approval of a settlement of all class and representative claims, which broadly covers “all individuals who trained to become and/or worked as sales agents in California for Defendant during the last four years prior to the filing of the original Complaint in Joh and whose training and/or work began before August 16, 2019.” Plaintiffs’ preliminary motion anticipated that the proposed settlement would resolve all claims in the Joh and Hamilton Actions, and in doing so, encompass pending claims asserted in the Golz Action for the settlement period. On August 1, 2020, the Northern District of California granted the Motion for Preliminary Approval of Class Action Settlement and scheduled a hearing for final approval of the settlement for January 7, 2021. On December 19, 2019, putative collective action litigation was filed against American Income in United States District Court for the Eastern District of Arkansas ( Patterson v. American Income Life Insurance Company, et al , Case No. 4:19-cv-918 KGB). The plaintiff, a former insurance sales agent of American Income, is pursuing a national collective action on behalf of all “similarly situated” individuals for the three years prior to the filing of the complaint. The lawsuit alleges that insurance agent trainees should have been classified as employees and asserts claims for minimum wage, overtime, liquidated damages and attorney’s fees under the Fair Labor Standards Act. The plaintiff also asserts an individual claim under the Arkansas Minimum Wage Act. American Income filed a motion to compel arbitration of plaintiff’s individual claims. The motion is fully briefed and remains pending. On February 27, 2020, putative collective action litigation was filed against American Income in United States District Court for the Western District of Pennsylvania ( Berry, et al v. American Income Life Insurance Company, et al , Case No. 2:20-cv-00110-LPL). The plaintiffs, former insurance sales agents of American Income, are pursuing relief on behalf of “all individuals who trained to become and/or worked as sales agents/insurance producers for American Income Life Insurance” in the three years prior to the filing of the complaint. The lawsuit alleges that agent trainees and insurance agents should have been classified as employees. It asserts a national collective action under the Fair Labor Standards Act seeking compensation for minimum wage, overtime, expense reimbursement, missed meal and rest breaks, recoupment of certain commissions and improper recordkeeping. In addition, the lawsuit asserts a class action under the Pennsylvania Minimum Wage Act and Pennsylvania Wage Payment and Collection Law seeking similar relief. Plaintiffs also seek liquidated damages and attorney’s fees, and assert an unjust enrichment claim. On September 20, 2020, American Income’s motion to compel arbitration of the plaintiffs’ individual claims was granted. The litigation is stayed pending outcome of the individual arbitrations. On August 5, 2020, putative class and collective action litigation was filed against American Income and National Income Life Insurance Company (“National Income”) in United States District Court for the Central District of California ( Natalie Bell, Gisele Mobley, Ashly Rai, and John Turner v. American Income Life Insurance Company and National Income Life Insurance Company, Case No. 2:20-cv-07046). The lawsuit alleges that insurance agent trainees should have been classified as employees, and after contracting should have been classified as employees instead of independent contractors. Plaintiffs Bell and Rai are former California agents who also assert claims under California law on behalf of a putative California class, for the four years prior to February 13, 2020 through case conclusion. They make claims under (a) the California Labor Code for alleged meal and rest break violations, overtime, minimum wage, alleged failure to pay wages at the time of termination, expense reimbursement, and alleged failure to provide accurate wage statements; and (b) the California Business and Professions Code for alleged unfair business practices. They also seek liquidated damages, penalties and attorney’s fees under California law. Plaintiff Turner is a former New York agent who asserts a claim under New York law on behalf of a putative New York class for the six years prior to February 13, 2020 through case conclusion. He makes a claim under the New York Labor Law for alleged failure to pay minimum wage and overtime, and for expense reimbursement. Plaintiff Mobley is a former Florida agent who asserts a claim under Florida law on behalf of a putative Florida class for the five years prior to February 13, 2020 through case conclusion. She makes a claim under the Florida General Labor Regulations, including the Florida Minimum Wage Act, for alleged failure to pay all wages owed. The plaintiffs also assert a national collective action on behalf of all “similarly situated” individuals for minimum wage, overtime, liquidated damages, penalties, an accounting and attorney’s fees and costs under the Fair Labor Standards Act for the three years prior to February 13, 2020 through case conclusion. With respect to the aforementioned litigation, at this time, management believes that the possibility of a material judgment adverse to the Company is remote.

Liability for Unpaid Claims

Liability for Unpaid Claims	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Liability for Unpaid Claims	Note 6—Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: Nine Months Ended 2020 2019 Balance at beginning of period $ 163,808 $ 154,528 Incurred related to: Current year 439,860 454,186 Prior year (13,136) (851) Total incurred 426,724 453,335 Paid related to: Current year 307,582 326,553 Prior year 123,066 123,803 Total paid 430,648 450,356 Balance at end of period $ 159,884 $ 157,507 Below is the reconciliation of the liability of "Policy claims and other benefits payable " in the Condensed Consolidated Balance Sheets . September 30, December 31, Policy claims and other benefits payable: Life insurance $ 207,569 $ 201,594 Health insurance 159,884 163,808 Total $ 367,453 $ 365,402

Postretirement Benefits

Postretirement Benefits	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Postretirement Benefits	Note 7—Postretirement Benefits Globe Life has qualified noncontributory defined benefit pension 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 tables included herein will focus on the defined benefit plans ("Pension Plan") and SERP. Pension Assets: The following table presents the assets of the Company's defined benefit pension plan at September 30, 2020 and December 31, 2019. Pension Assets by Component at September 30, 2020 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 53,219 $ — $ 53,219 11 Utilities — 45,364 — 45,364 9 Energy — 21,100 — 21,100 4 Other corporates — 92,372 — 92,372 19 Total corporate bonds — 212,055 — 212,055 43 Exchange traded fund (1) 217,649 — — 217,649 43 Other bonds — 264 — 264 — Guaranteed annuity contract (2) — 30,250 — 30,250 6 Short-term investments 18,023 — — 18,023 4 Other 6,883 — — 6,883 1 $ 242,555 $ 242,569 $ — 485,124 97 Other long-term investments (3) 15,649 3 Total pension assets $ 500,773 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Non-Exempt Employees Defined Benefit Pension Plan ("American Income Pension Plan"). (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns less than 1% of the investment fund. As of September 30, 2020, the expected term of the investment fund is approximately 4 years and the commitment of the investment is fully funded. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. Pension Assets by Component at December 31, 2019 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 51,111 $ — $ 51,111 11 Utilities — 42,758 — 42,758 9 Energy — 21,907 — 21,907 5 Other corporates — 89,725 — 89,725 19 Total corporate bonds — 205,501 — 205,501 44 Exchange traded fund (1) 207,176 — — 207,176 44 Other bonds — 251 — 251 — Guaranteed annuity contract (2) — 28,278 — 28,278 6 Short-term investments 8,414 — — 8,414 2 Other 6,876 — — 6,876 1 $ 222,466 $ 234,030 $ — 456,496 97 Other long-term investments (3) 12,267 3 Total pension assets $ 468,763 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns approximately 1% of the investment fund. As of December 31, 2019, the expected term of the investment fund is approximately 5 years and the unfunded commitment of the investment fund is $4.1 million. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. SERP : The following table includes information regarding the SERP. Nine Months Ended 2020 2019 Premiums paid for insurance coverage $ 2,480 $ 2,394 September 30, December 31, Total investments: Company owned life insurance $ 50,985 $ 47,733 Exchange traded funds 68,862 65,585 $ 119,847 $ 113,318 Pension and SERP Liabilities : The following table presents liabilities for the defined benefit pension plans and SERP at September 30, 2020 and December 31, 2019. September 30, December 31, Defined benefit pension $ 602,174 $ 578,860 SERP 87,018 86,347 Pension benefit obligation $ 689,192 $ 665,207 Net Periodic Benefit Cost: The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and nine months ended September 30, 2020 and 2019. Components of Net Periodic Benefit Cost Three Months Ended Nine Months Ended 2020 2019 2020 2019 Service cost $ 6,116 $ 4,982 $ 18,347 $ 14,947 Interest cost 5,653 5,964 16,951 17,892 Expected return on assets (7,390) (6,966) (22,171) (20,898) Amortization: Prior service cost 158 158 474 474 Actuarial (gain) loss 3,921 1,894 11,770 5,684 Net periodic benefit cost $ 8,458 $ 6,032 $ 25,371 $ 18,099

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 8—Earnings Per Share Earnings per Share : A reconciliation of basic and diluted weighted-average shares outstanding used in the computation of basic and diluted earnings per share is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic weighted average shares outstanding 106,146,809 108,813,355 106,622,704 109,582,748 Weighted average dilutive options outstanding 906,302 2,100,378 1,082,474 2,009,262 Diluted weighted average shares outstanding 107,053,111 110,913,733 107,705,178 111,592,010 Antidilutive shares 4,007,482 — 2,415,182 1,359,186

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 9—Debt Short-term debt : On July 31, 2020, the Company paid down the remaining principal of $82.5 million on the 5-year $100 million term loan (Term Loan I) with a maturity date of May 17, 2021. On April 9, 2020, Globe Life entered into a 364-Day Term Loan Agreement ("Term Loan II"). The Agreement provided the Company with access up to $300 million in unsecured term loans, all maturing on April 8, 2021. Globe Life borrowed the full amount on April 15, 2020 to utilize for general corporate purposes, including additional liquidity at the Parent Company. The net proceeds from the Term Loan II were $299.1 million. On August 17, 2020, the Company repaid $150 million of the Term Loan II with the remaining balance of $150 million repaid on August 26, 2020. The Company recorded a $634 thousand loss on redemption of debt from the write off of unamortized issue expenses. Long-term debt: On August 21, 2020, Globe Life completed the issuance and sale of $350 million in aggregate principal amount of Globe Life's 2.15% unsecured Senior Notes due August 15, 2030. The net proceeds from the sale of the Senior Notes were $345.8 million. On September 3, 2020, Globe Life completed the issuance and sale of $50 million in aggregate principal of Globe Life's 2.15% unsecured Senior Notes also due August 15, 2030. These Senior Notes were issued as additional notes under a Second Supplemental Indenture governing the 2.15% Senior Notes issued on August 21, 2020. The Senior Notes are fully fungible and have the same terms as the first issuance. The net proceeds from the sale of the Senior Notes were $49.3 million, after giving effect to the underwriting expenses. Globe Life utilized the total net proceeds of $395 million to extinguish the Term Loan II and for general corporate purposes, which may include additional capital investments in its insurance subsidiaries and additional holding company liquidity. Credit facility: On August 24, 2020, Globe Life entered into a new credit agreement, replacing the prior agreement that was due on May 17, 2021, which provides for a $750 million revolving credit facility that may be increased to $1.0 billion. The credit facility matures August 24, 2023 and may be extended up to two one-year periods upon the Company's request. Pursuant to this agreement, the participating lenders have agreed to make revolving loans to Globe Life and to issue secured or unsecured letters of credit. The Company has not drawn on any of the credit to date. As of September 30, 2020, the Company was in full compliance with these covenants. The following table presents information about the terms and outstanding balances of Globe Life's debt. Selected Information about Debt Issues As of September 30, December 31, 2019 Instrument Issue Date Maturity Date Coupon Rate Interest Payment Dates Par Book Fair Book Senior notes 5/27/1993 5/15/2023 7.875% semiannual $ 165,612 $ 164,892 $ 194,604 $ 164,713 Senior notes (1) 9/24/2012 9/15/2022 3.800% semiannual 150,000 149,331 159,212 149,089 Senior notes 9/27/2018 9/15/2028 4.550% semiannual 550,000 544,179 655,501 543,735 Senior notes 8/21/2020 8/15/2030 2.150% semiannual 400,000 395,091 401,152 — Junior subordinated debentures 5/17/2016 6/15/2056 6.125% quarterly 300,000 290,635 308,760 290,584 Junior subordinated debentures 11/17/2017 11/17/2057 5.275% semiannual 125,000 123,378 122,935 123,367 Term loan — — — 86,875 1,690,612 1,667,506 1,842,164 1,358,363 Less current maturity of term loan — — — 9,375 Total long-term debt 1,690,612 1,667,506 1,842,164 1,348,988 Current maturity of term loan — — — 9,375 Commercial paper 280,000 279,758 279,758 289,363 Total short-term debt 280,000 279,758 279,758 298,738 Total debt $ 1,970,612 $ 1,947,264 $ 2,121,922 $ 1,647,726 (1) An additional $150 million par value and book value is held by insurance subsidiaries that eliminates in consolidation. The commercial paper has the highest priority of all the debt followed by senior notes then junior subordinated debentures. The Senior notes due 2023 are noncallable, the remaining senior notes are callable under a make-whole provision, and the junior subordinated debentures are callable upon special events.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Business Segments	Note 10—Business Segments Globe Life is organized into four segments: life insurance, supplemental health insurance, annuities, and investments. In addition, other expenses not included in these segments are reported in "Corporate & Other." Globe Life's reportable insurance segments are based on the insurance product lines it markets and administers: life insurance, supplemental 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. There is also an investment segment which manages the investment portfolio, debt, and cash flow for the insurance segments and the corporate function. The Company's chief operating decision makers evaluate the overall performance of the operations of the Company in accordance with these segments. Life insurance products marketed by Globe Life include traditional whole life and term life insurance. Health insurance products are generally guaranteed-renewable and include Medicare Supplement, critical illness, accident, and limited-benefit supplemental hospital and surgical coverage. Annuities include fixed-benefit contracts. Globe Life markets its insurance products through a number of distribution channels, each of which sells the products of one or more of Globe Life's insurance segments. Our distribution channels consist of the following exclusive agencies: American Income Life Division (American Income), Liberty National Division (Liberty National) Premium Income by Distribution Channel Three Months Ended September 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 318,917 47 $ 27,029 9 $ — — $ 345,946 36 Direct to Consumer 227,734 34 19,017 7 — — 246,751 26 Liberty National 73,815 11 47,199 16 — — 121,014 13 United American 2,402 — 114,325 40 1 100 116,728 12 Family Heritage 1,081 — 80,225 28 — — 81,306 8 Other 50,072 8 — — — — 50,072 5 $ 674,021 100 $ 287,795 100 $ 1 100 $ 961,817 100 Three Months Ended September 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 293,149 47 $ 25,312 9 $ — — $ 318,461 35 Direct to Consumer 211,693 34 19,135 7 — — 230,828 26 Liberty National 71,812 11 47,439 18 — — 119,251 13 United American 2,602 — 103,112 38 3 100 105,717 12 Family Heritage 971 — 74,168 28 — — 75,139 8 Other 50,597 8 — — — — 50,597 6 $ 630,824 100 $ 269,166 100 $ 3 100 $ 899,993 100 Premium Income by Distribution Channel Nine Months Ended September 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 930,444 47 $ 78,310 9 $ — — $ 1,008,754 36 Direct to Consumer 682,978 34 57,873 7 — — 740,851 26 Liberty National 220,009 11 142,230 17 — — 362,239 13 United American 7,373 — 337,269 39 4 100 344,646 12 Family Heritage 3,144 — 235,195 28 — — 238,339 8 Other 150,525 8 — — — — 150,525 5 $ 1,994,473 100 $ 850,877 100 $ 4 100 $ 2,845,354 100 Nine Months Ended September 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 863,250 46 $ 73,861 9 $ — — $ 937,111 35 Direct to Consumer 646,530 34 58,644 7 — — 705,174 26 Liberty National 214,007 11 142,887 18 — — 356,894 13 United American 8,000 1 308,271 39 4 100 316,275 12 Family Heritage 2,829 — 218,469 27 — — 221,298 8 Other 151,698 8 — — — — 151,698 6 $ 1,886,314 100 $ 802,132 100 $ 4 100 $ 2,688,450 100 Due to the nature of the life insurance industry, Globe Life has no individual or group that would be considered a major customer. Substantially all of Globe Life's business is conducted in the United States. The measure of profitability established by the chief operating decision makers for the insurance segments is underwriting margin before other income and administrative expenses, in accordance with the manner the segments are managed. It essentially represents gross profit margin on insurance products before insurance administrative expenses and consists primarily of premium less net policy benefits, acquisition expenses, and commissions. Required interest on net policy liabilities (benefit reserves less deferred acquisition costs) is reflected as a component of the Investment segment (rather than as a component of underwriting margin in the insurance and annuity segments) in order to match this cost with the investment income earned on the assets supporting the net policy liabilities. The measure of profitability for the Investment segment is excess investment income, representing the income earned on the investment portfolio in excess of net policy requirements and financing costs associated with Globe Life's debt. Other than the above-mentioned interest allocations, no other intersegment revenues or expenses exist. Expenses directly attributable to corporate operations are included in the “Corporate & Other” category. Stock-based compensation expense is considered a corporate expense by Globe Life management and is included in this category. All other unallocated revenues and expenses on a pretax basis, including insurance administrative expense, are also included in the “Corporate & Other” segment category. Globe Life holds a sizable investment portfolio to support its insurance liabilities, the yield from which is used to offset policy benefit, acquisition, administrative and tax expenses. This yield or investment income is taken into account when establishing premium rates and profitability expectations of its insurance products. From time to time, investments are sold or called, or experience a credit loss event, each of which are reflected by the Company as realized gain (loss)—investments. These gains or losses generally occur as a result of disposition due to issuer calls, compliance with Company investment policies, or other reasons often beyond management’s control. Unlike investment income, realized gains and losses are incidental to insurance operations, and only overall yields are considered when setting premium rates or insurance product profitability expectations. While these gains and losses are not relevant to segment profitability or core operating results, they can have a material positive or negative result on net income. For these reasons, management removes realized investment gains and losses when it views its segment operations. Management removes items that are related to prior periods when evaluating the operating results of current periods. Management also removes non-operating items unrelated to its core insurance activities when evaluating those results. Therefore, these items are excluded in its presentation of segment results, because accounting guidance requires that operating segment results be presented as management views its business. With the exception of the administrative settlements noted in the paragraphs above, all of these items are included in “Other operating expense” in the Condensed Consolidated Statements of Operations for the appropriate year. See additional detail below in the tables. The following tables set forth a reconciliation of Globe Life's revenues and operations by segment to its major income statement line items. See Note—1 Significant Accounting Policies for additional information concerning reconciling items of segment profits to pretax income. Three Months Ended September 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 674,021 $ 287,795 $ 1 $ — $ — $ — $ 961,817 Net investment income — — — 231,432 — — 231,432 Other income — — — — 292 — 292 Total revenue 674,021 287,795 1 231,432 292 — 1,193,541 Expenses: Policy benefits 459,231 184,237 7,508 — — — 650,976 Required interest on reserves (175,794) (23,770) (10,347) 209,911 — — — Required interest on DAC 52,709 6,689 81 (59,479) — — — Amortization of acquisition costs 114,316 26,026 501 — — — 140,843 Commissions, premium taxes, and non-deferred acquisition costs 52,856 21,753 5 — — — 74,614 Insurance administrative expense (1) — — — — 63,008 710 (2) 63,718 Parent expense — — — — 2,689 323 (2) 3,012 Stock-based compensation expense — — — — 8,667 — 8,667 Interest expense — — — 21,674 — — 21,674 Total expenses 503,318 214,935 (2,252) 172,106 74,364 1,033 963,504 Subtotal 170,703 72,860 2,253 59,326 (74,072) (1,033) 230,037 Non-operating items — — — — — 1,033 (2) 1,033 Measure of segment profitability (pretax) $ 170,703 $ 72,860 $ 2,253 $ 59,326 $ (74,072) $ — 231,070 Realized gain (loss)—investments 2,135 Realized loss—redemption of debt (634) Non-operating expenses (1,033) Income before income taxes per Condensed Consolidated Statements of Operations $ 231,538 (1) Administrative expense is not allocated to insurance segments. (2) Non-operating expenses. Three Months Ended September 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 630,824 $ 269,166 $ 3 $ — $ — $ — $ 899,993 Net investment income — — — 228,905 — — 228,905 Other income — — — — 438 — 438 Total revenue 630,824 269,166 3 228,905 438 — 1,129,336 Expenses: Policy benefits 406,963 170,875 7,854 — — — 585,692 Required interest on reserves (167,719) (21,955) (10,832) 200,506 — — — Required interest on DAC 50,948 6,395 125 (57,468) — — — Amortization of acquisition costs 108,798 29,151 500 — — — 138,449 Commissions, premium taxes, and non-deferred acquisition costs 50,375 23,759 5 — — — 74,139 Insurance administrative expense (1) — — — — 60,570 — 60,570 Parent expense — — — — 2,472 — 2,472 Stock-based compensation expense — — — — 11,533 — 11,533 Interest expense — — — 21,094 — — 21,094 Total expenses 449,365 208,225 (2,348) 164,132 74,575 — 893,949 Subtotal 181,459 60,941 2,351 64,773 (74,137) — 235,387 Non-operating items — — — — — — — Measure of segment profitability (pretax) $ 181,459 $ 60,941 $ 2,351 $ 64,773 $ (74,137) $ — 235,387 Realized gain (loss)—investments 11,943 Income before income taxes per Condensed Consolidated Statements of Oper ations $ 247,330 (1) Administrative expense is not allocated to insurance segments. Nine Months Ended September 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,994,473 $ 850,877 $ 4 $ — $ — $ — $ 2,845,354 Net investment income — — — 691,991 — — 691,991 Other income — — — — 1,021 — 1,021 Total revenue 1,994,473 850,877 4 691,991 1,021 — 3,538,366 Expenses: Policy benefits 1,340,746 546,444 22,571 — — — 1,909,761 Required interest on reserves (520,207) (69,131) (31,135) 620,473 — — — Required interest on DAC 156,934 19,790 253 (176,977) — — — Amortization of acquisition costs 346,426 82,905 1,509 — — — 430,840 Commissions, premium taxes, and non-deferred acquisition costs 159,369 70,304 18 — — — 229,691 Insurance administrative expense (1) — — — — 188,194 3,985 (2,3) 192,179 Parent expense — — — — 7,536 323 (3) 7,859 Stock-based compensation expense — — — — 26,655 — 26,655 Interest expense — — — 65,295 — — 65,295 Total expenses 1,483,268 650,312 (6,784) 508,791 222,385 4,308 2,862,280 Subtotal 511,205 200,565 6,788 183,200 (221,364) (4,308) 676,086 Non-operating items — — — — — 4,308 (2,3) 4,308 Measure of segment profitability (pretax) $ 511,205 $ 200,565 $ 6,788 $ 183,200 $ (221,364) $ — 680,394 Realized gain (loss)—investments (28,752) Realized loss—redemption of debt (634) Legal proceedings (3,275) Non-operating expenses (1,033) Income before income taxes per Condensed Consolidated Statements of Operations $ 646,700 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. (3) Non-operating expenses. Nine Months Ended September 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,886,314 $ 802,132 $ 4 $ — $ — $ — $ 2,688,450 Net investment income — — — 683,003 — — 683,003 Other income — — — — 1,077 — 1,077 Total revenue 1,886,314 802,132 4 683,003 1,077 — 3,372,530 Expenses: Policy benefits 1,227,616 511,403 23,792 — — — 1,762,811 Required interest on reserves (496,894) (65,131) (32,840) 594,865 — — — Required interest on DAC 151,270 19,019 383 (170,672) — — — Amortization of acquisition costs 327,407 83,508 1,521 — — — 412,436 Commissions, premium taxes, and non-deferred acquisition costs 150,567 70,719 16 — — — 221,302 Insurance administrative expense (1) — — — — 179,177 5,900 (2,3) 185,077 Parent expense — — — — 7,987 — 7,987 Stock-based compensation expense — — — — 33,348 — 33,348 Interest expense — — — 63,804 — — 63,804 Total expenses 1,359,966 619,518 (7,128) 487,997 220,512 5,900 2,686,765 Subtotal 526,348 182,614 7,132 195,006 (219,435) (5,900) 685,765 Non-operating items — — — — — 5,900 (2,3) 5,900 Measure of segment profitability (pretax) $ 526,348 $ 182,614 $ 7,132 $ 195,006 $ (219,435) $ — 691,665 Realized gain (loss)—investments 18,426 Administrative settlements (400) Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 704,191 (1) Administrative expense is not allocated to insurance segments. (2) Administrative settlements. (3) Legal proceedings.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying condensed consolidated financial statements of Globe Life 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 September 30, 2020, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended September 30, 2020 and 2019. 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 February 27, 2020.
New Accounting Pronouncements	On January 1, 2020, the Company adopted ASU 2016-13, replacing the GAAP "incurred loss" model with a new methodology referred to as current expected credit losses (CECL). The previous methodology delayed recognition of credit losses until it was probable that a loss had incurred, ultimately resulting in fewer instances of losses being recorded in earnings. The new CECL methodology is forward looking—encompassing relevant information about historical experience, current conditions, as well as reasonable and supportable forecasts that affect the collectability of a reported amount. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. The standard affected the Company's commercial mortgage loan participations ( Other long-term investments ) and agent debit balances ( Other receivables ). The Company adopted the standard using the modified retrospective method. The Company recorded a cumulative effect adjustment, net of tax of $454 thousand to retained earnings, consisting of $265 thousand and $189 thousand for commercial mortgage loan participations and agent debit balances, respectively. Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 In addition, the standard made changes to the accounting for available-for-sale debt securities through the removal of "other-than-temporary-impairment" (OTTI) write downs and replaced them with an allowance for credit losses. The new methodology will allow the Company to record reversals of credit losses in situations where the estimate of credit losses declines through current period net income ( Realized gains (losses) ). The Company adopted the standard using the prospective transition approach for available-for-sale fixed maturities for which OTTI had been recognized prior to January 1, 2020. As a result, the amortized cost basis and the effective interest rate remain unchanged after the adoption of ASU 2016-13. Amortized cost will now be reflected as "amortized cost, net of allowance for credit losses" or "amortized cost, net." The Company has not elected the fair value option for any financial assets recorded at amortized cost that would be in scope of this standard. Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. 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. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. 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 to defined benefit plans. 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 standard to have a material impact on the consolidated financial statements. ASU No. 2020-08 , Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The standard was issued as an amendment to ASU 2017-08, and clarifies that callable debt securities with a premium should be amortized to the next call date. This standard is effective beginning January 1, 2021, and will be applied prospectively. Early adoption is not permitted. The Company does not expect the adoption of this standard to have an impact on the consolidated financial statements.
Investments	Investments, Available-For-Sale Fixed Maturities : Globe Life classifies all of its fixed maturity investments as available for sale. Investments classified as available for sale are carried at fair value with unrealized gains and losses, net of taxes reflected directly in Accumulated other comprehensive income ("AOCI"). Income from investments is recorded in net investment income on the Condensed Consolidated Statements of Operations . Gains and losses from sales, maturities, or other redemptions of investments are recorded in Realized gains (losses) . Interest income and prepayment fees are recognized when earned. Premiums and discounts are amortized using the interest method. When amortized cost of a callable debt security exceeds the first call price, the premium is amortized to the earliest call date. Otherwise, the period of amortization or accretion generally extends from the purchase date to the maturity date. Accrued investment income consists of interest income or dividends earned on the investment portfolio, but which are yet to be received as of the balance sheet date. The Company will write-off accrued investment income that is deemed to be uncollectable related to the fixed maturities. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the fixed maturity and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . Investments, Allowance For Credit Losses For Available-For-Sale Fixed Maturities : At the onset of the evaluation, the Company individually assesses each fixed maturity to determine whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria are met, the Company will write down the fixed maturity's amortized cost basis to fair value through Realized gains (losses) . If neither of the aforementioned criteria are met, the Company will evaluate whether the decline in fair value has resulted from a credit event. The Company will evaluate many factors, as further described below, to determine the present value of the expected cash flows. A credit loss occurs when the present value of the expected cash flows is less than the amortized cost basis. This will result in the recording of an allowance for credit losses as a contra asset account to the amortized cost basis with an offsetting provision for credit losses in Realized gains (losses) on the Condensed Consolidated Statement of Operations . Additionally, the CECL methodology includes a fair value floor where the allowance for credit loss for a security cannot exceed the difference between fair value and amortized cost. When it is determined that there is not a credit loss, the decline in fair value is recognized in Other comprehensive income . All changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses recorded to the allowance for credit losses are management's best estimate of the uncollectability of principal and interest of a fixed maturity. The evaluation of Globe Life's securities for credit losses is a process that is undertaken at least quarterly and is overseen by a team of investment and accounting professionals. The process for making this determination is highly subjective and involves the careful consideration of many factors. The factors considered include, but are not limited to: • The Company’s ability and intent to hold the security until anticipated recovery • The reason(s) for the impairment • The financial condition of the issuer and the prospects for recovery in fair value of the security • Expected future cash flows The relative weight given to each of these factors can change over time as facts and circumstances change. In many cases, management believes it is appropriate to give more consideration to prospective factors than to retrospective factors. Prospective factors that are given more weight include prospects for recovery, the Company’s ability and intent to hold the security until anticipated recovery, and expected future cash flows. Among the facts and information considered in the process are: • Financial statements of the issuer • Changes in credit ratings of the issuer • The value of underlying collateral • News and information included in press releases issued by the issuer • News and information reported in the media concerning the issuer • News and information published by or otherwise provided by securities, economic, or research analysts • The nature and amount of recent and expected future sources and uses of cash • Default on a required payment • Corporate actions such as issuer bankruptcy filings or exchanges The expected cash flows are determined using judgment and the best information available to the Company. Inputs used to derive expected cash flows generally include expected default rates, current levels of subordination, and estimated recovery rate. The discount rate utilized in the discounted cash flows is the effective interest rate, which is the rate of return implicit in the asset at acquisition. Investments, Commercial Mortgage Loan Participations (Commercial Mortgage Loans) : Commercial mortgage loans, a type of investment where the commercial mortgage loan is shared among investors, are accounted for as financing receivables. The commercial mortgage loans are managed by a third party. The Company purchased the legal rights to interests in commercial mortgage loans that are secured by properties such as hotels, retail, multiple family, or offices. The commercial mortgage loans typically have a term of three years with an option to extend up to two years. The commercial mortgage loans are recorded at unpaid principal balance, net of unamortized origination fees and net of allowance for loan losses. Interest income, net of the amortization of origination fees, is recorded in Net investment income under the effective yield method. Accrued investment income on the Condensed Consolidated Balance Sheets consists of interest income earned on the commercial mortgage loan portfolio, but which is yet to be received as of the balance sheet date. Accrued investment income will be placed in nonaccrual status at the time the loan is 90 days delinquent or otherwise deemed to be uncollectable by management. Any currently accrued investment income will subsequently be written off. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the commercial mortgage loans and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . As of September 30, 2020, the accrued interest receivable for commercial mortgage loans was $457 thousand. Commercial mortgage loans generally pay interest monthly, therefore accrued interest is typically for a period of less than 30 days. The unfunded commitment balance was $81 million as of September 30, 2020. The Company evaluates the performance and credit quality of the commercial mortgage loan portfolio at least on a quarterly basis, or as needed, by utilizing common metrics such as loan-to-value and debt service coverage ratios as well as evaluating the fair value of the underlying collateral. The fair value of the underlying collateral is based on a third-party appraisal of the property at origination of the loan, and is reviewed on an annual basis thereafter, or more frequently when a loan is materially underperforming, 30 days delinquent, or in technical default. The Company determines the probability of estimated losses for the commercial mortgage loan portfolio on a pool basis each quarter and records an allowance. The allowance for credit losses is based on estimates, historical experience, probability of loss, value of the underlying collateral, and macro factors that affect the collectability of the loan. Each loan within the pool is assigned a risk rating (credit quality indicator) of low, medium, and high based on risk and expected future performance. A loan that is assigned as high risk would have a higher probability of a potential principal loss. The assigned risk category and the estimated loss rate is adjusted each quarter for current and forecasted economic factors management believes are relevant. If management determines that foreclosure of a particular property is probable, the Company may elect the practical expedient for an individual mortgage loan to estimate the expected credit losses, which are based on the fair value of the property less amortized cost, adjusted for selling and other associated costs. See Note 4 for current activity.
Other Receivables, Agent Debit Balances	Other Receivables, Agent Debit Balances : Agent debit balances primarily represent commissions advanced to insurance agents, a common industry practice. These balances are repaid to the Company over time, generally one year, as the premiums associated with the advanced commissions are collected by the Company and a portion of the agents' commissions on such premiums are retained in order to repay the balances. The balances were $438 million at September 30, 2020 and $424 million at December 31, 2019. When an agent sells a policy, commissions are advanced to the agent, and the collection of the advance is made as long as the policy stays in force. While there is a susceptibility to loss should an agent terminate or excessive policy lapses occur, the ability of the Company to continue to collect an agent's commission streams over time from prior sales of policies reduces the Company's exposure to loss. The Company has a very low inherent risk with regards to the collection of agent debit balances and views these balances as recoverable since they are, in aggregate, less than the estimated present value of future commissions discounted at a conservative rate which includes assumptions for lapses and mortality. The Company’s security, or collateral, is in the form of future commission streams collected over the life of the policies sold by the respective agents, which ultimately revert to the Company in the event an agent is terminated. The Company evaluated the agent debit balances on a pool basis to determine the allowance for credit losses, as the loans have similar characteristics. A provision for credit losses will be recorded in Realized gains (losses) on the Condensed Consolidated Statement of Operations and the asset balance will be reflected as Agent Debit Balances, net of allowance for credit losses ( Other receivables ). Based on factors considered by management, there were no additional credit losses recorded during the three months ended September 30, 2020. As of September 30, 2020, the allowance for credit losses was $1.2 million compared with $1.0 million as of December 31, 2019.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Impact of New Accounting Pronouncements	Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. 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. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. 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 to defined benefit plans. 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 standard to have a material impact on the consolidated financial statements. ASU No. 2020-08 , Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The standard was issued as an amendment to ASU 2017-08, and clarifies that callable debt securities with a premium should be amortized to the next call date. This standard is effective beginning January 1, 2021, and will be applied prospectively. Early adoption is not permitted. The Company does not expect the adoption of this standard to have an impact on the consolidated financial statements.

New Accounting Standards (Table

New Accounting Standards (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Impact of New Accounting Pronouncements	Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. 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. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. 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 to defined benefit plans. 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 standard to have a material impact on the consolidated financial statements. ASU No. 2020-08 , Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The standard was issued as an amendment to ASU 2017-08, and clarifies that callable debt securities with a premium should be amortized to the next call date. This standard is effective beginning January 1, 2021, and will be applied prospectively. Early adoption is not permitted. The Company does not expect the adoption of this standard to have an impact on the consolidated financial statements.

Supplemental Information Abou_2

Supplemental Information About Changes to Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule 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 and nine month periods ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 Available Deferred Foreign Pension Total Balance at July 1, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Other comprehensive income (loss) before reclassifications, net of tax 301,423 304 4,364 — 306,091 Reclassifications, net of tax 9,352 — — 3,283 12,635 Other comprehensive income (loss) 310,775 304 4,364 3,283 318,726 Balance at September 30, 2020 $ 2,681,607 $ (5,008) $ 8,130 $ (134,110) $ 2,550,619 Three Months Ended September 30, 2019 Available Deferred Foreign Pension Total Balance at July 1, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250 Other comprehensive income (loss) before reclassifications, net of tax 513,812 318 (3,224) — 510,906 Reclassifications, net of tax (8,706) — — 1,674 (7,032) Other comprehensive income (loss) 505,106 318 (3,224) 1,674 503,874 Balance at September 30, 2019 $ 2,057,214 $ (6,238) $ 5,682 $ (113,534) $ 1,943,124 Nine Months Ended September 30, 2020 Available Deferred Foreign Pension Total Balance at January 1, 2020 $ 1,982,650 $ (5,916) $ 12,058 $ (143,962) $ 1,844,830 Other comprehensive income (loss) before reclassifications, net of tax 669,680 908 (3,928) — 666,660 Reclassifications, net of tax 29,277 — — 9,852 39,129 Other comprehensive income (loss) 698,957 908 (3,928) 9,852 705,789 Balance at September 30, 2020 $ 2,681,607 $ (5,008) $ 8,130 $ (134,110) $ 2,550,619 Nine Months Ended September 30, 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 1,632,819 (2,075) (813) — 1,629,931 Reclassifications, net of tax (11,303) — — 5,021 (6,282) Other comprehensive income (loss) 1,621,516 (2,075) (813) 5,021 1,623,649 Balance at September 30, 2019 $ 2,057,214 $ (6,238) $ 5,682 $ (113,534) $ 1,943,124
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three and nine month periods ended September 30, 2020 and 2019. Three Months Ended Nine Months Ended September 30, Affected line items in the Statement of Operations Component Line Item 2020 2019 2020 2019 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ 10,276 $ (12,430) $ 32,133 $ (18,337) Realized (gains) losses Amortization of (discount) premium 1,562 1,410 4,927 4,030 Net investment income Total before tax 11,838 (11,020) 37,060 (14,307) Tax (2,486) 2,314 (7,783) 3,004 Income taxes Total after-tax 9,352 (8,706) 29,277 (11,303) Pension adjustments: Amortization of prior service cost 158 158 474 474 Other operating expense Amortization of actuarial (gain) loss 3,998 1,959 11,997 5,881 Other operating expense Total before tax 4,156 2,117 12,471 6,355 Tax (873) (443) (2,619) (1,334) Income taxes Total after-tax 3,283 1,674 9,852 5,021 Total reclassification (after-tax) $ 12,635 $ (7,032) $ 39,129 $ (6,282)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Fixed Maturities and Equity Securities Available for Sale by Component	Summaries of fixed maturities available for sale by amortized cost, fair value, and allowance for credit losses at September 30, 2020 and December 31, 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows. Redeemable preferred stock is included within the corporates by sector. As noted in Note 1—Significant Accounting Policies , the Company prospectively adopted ASU 2016-13 as of January 1, 2020 for the available-for-sale fixed maturities. Results after January 1, 2020 are presented under ASU 2016-13, while prior periods continue to be reported in accordance with previously applicable GAAP. See additional discussion of the allowance for credit losses later in this note. At September 30, 2020 Allowance for Credit Losses Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 375,836 $ — $ 95,166 $ — $ 471,002 2 States, municipalities, and political subdivisions 1,703,408 — 224,303 (3,887) 1,923,824 10 Foreign governments 44,130 — 3,361 (80) 47,411 — Corporates, by sector: Financial 4,335,786 — 898,119 (43,631) 5,190,274 26 Utilities 1,956,732 — 557,816 (27) 2,514,521 12 Energy 1,623,191 (4,387) 244,236 (24,389) 1,838,651 9 Other corporate sectors 6,664,488 — 1,447,649 (18,713) 8,093,424 40 Total corporates 14,580,197 (4,387) 3,147,820 (86,760) 17,636,870 87 Collateralized debt obligations 56,763 — 21,708 (9,814) 68,657 — Other asset-backed securities 131,720 — 3,446 (5,874) 129,292 1 Total fixed maturities $ 16,892,054 $ (4,387) $ 3,495,804 $ (106,415) $ 20,277,056 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2019 Amortized Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 396,079 $ 41,737 $ (296) $ 437,520 2 States, municipalities, and political subdivisions 1,559,736 158,546 (626) 1,717,656 9 Foreign governments 25,874 2,073 (396) 27,551 — Corporates, by sector: Financial 4,101,917 701,196 (22,307) 4,780,806 25 Utilities 1,937,738 416,114 (1,565) 2,352,287 13 Energy 1,678,969 269,640 (33,725) 1,914,884 10 Other corporate sectors 6,514,677 955,908 (16,765) 7,453,820 40 Total corporates 14,233,301 2,342,858 (74,362) 16,501,797 88 Collateralized debt obligations 56,990 24,298 (7,184) 74,104 — Other asset-backed securities 143,796 5,094 (371) 148,519 1 Total fixed maturities $ 16,415,776 $ 2,574,606 $ (83,235) $ 18,907,147 100 (1) Amount reported in the balance sheet. (2) At fair value.
Schedule of Fixed Maturities by Contractual Maturity	A schedule of fixed maturities available for sale by contractual maturity date at September 30, 2020 is shown below on an amortized cost, net of allowance for credit losses basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At September 30, 2020 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 46,963 $ 47,877 Due after one year through five years 762,252 836,895 Due after five years through ten years 1,794,849 2,118,729 Due after ten years through twenty years 6,027,005 7,578,897 Due after twenty years 8,067,809 9,496,378 Mortgage-backed and asset-backed securities 188,789 198,280 $ 16,887,667 $ 20,277,056
Schedule of Analysis of Investment Operations	Net investment income for the three and nine month periods ended September 30, 2020 and 2019 is summarized as follows: Three Months Ended Nine Months Ended 2020 2019 % Change 2020 2019 % Change Fixed maturities available for sale $ 217,900 $ 216,154 1 $ 652,583 $ 647,784 1 Policy loans 11,241 10,959 3 33,572 32,416 4 Other long-term investments (1) 6,925 5,105 36 18,694 12,484 50 Short-term investments 88 514 (83) 529 2,096 (75) 236,154 232,732 1 705,378 694,780 2 Less investment expense (4,722) (3,827) 23 (13,387) (11,777) 14 Net investment income $ 231,432 $ 228,905 1 $ 691,991 $ 683,003 1
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 Nine Months Ended 2020 2019 2020 2019 Fixed maturities available for sale: Proceeds from sales (1) $ 661 $ 27,154 $ 52,681 $ 62,151 Gross realized gains — 1,031 2,642 1,077 Gross realized losses (38,782) (604) (39,153) (3,631)
Realized Gains (Losses) on Investments	An analysis of realized gains (losses) is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ (38,608) $ 12,430 $ (27,746) $ 18,337 Provision for credit losses 28,332 — (4,387) — Fair value option—change in fair value 12,053 (487) (6,798) 197 Other investments 358 — 10,179 (108) Realized gains (losses) from investments 2,135 11,943 (28,752) 18,426 Realized loss on redemption of debt (634) — (634) — 1,501 11,943 (29,386) 18,426 Applicable tax 463 (2,508) 6,949 (3,869) Realized gains (losses), net of tax $ 1,964 $ 9,435 $ (22,437) $ 14,557 (1) During the three months ended September 30, 2020 and 2019, the Company recorded $65.8 million and $43.7 million of exchanges of fixed maturities (noncash transactions) that resulted in $0 and $11.8 million, respectively in realized gains (losses). During the nine months ended September 30, 2020 and 2019, the Company recorded $152.1 million and $161.0 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $20.1 million, respectively in realized gains (losses).
Unrealized Gain (Loss) on Investments	The following tables represent the fair value of fixed maturities measured on a recurring basis at September 30, 2020 and December 31, 2019: Fair Value Measurement at September 30, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 471,002 $ — $ 471,002 States, municipalities, and political subdivisions — 1,923,824 — 1,923,824 Foreign governments — 47,411 — 47,411 Corporates, by sector: Financial — 5,042,580 147,694 5,190,274 Utilities — 2,334,286 180,235 2,514,521 Energy — 1,801,028 37,623 1,838,651 Other corporate sectors — 7,794,758 298,666 8,093,424 Total corporates — 16,972,652 664,218 17,636,870 Collateralized debt obligations — — 68,657 68,657 Other asset-backed securities — 116,324 12,968 129,292 Total fixed maturities $ — $ 19,531,213 $ 745,843 $ 20,277,056 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2019 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 437,520 $ — $ 437,520 States, municipalities, and political subdivisions — 1,717,656 — 1,717,656 Foreign governments — 27,551 — 27,551 Corporates, by sector: Financial — 4,628,875 151,931 4,780,806 Utilities — 2,195,539 156,748 2,352,287 Energy — 1,873,482 41,402 1,914,884 Other corporate sectors — 7,131,773 322,047 7,453,820 Total corporates — 15,829,669 672,128 16,501,797 Collateralized debt obligations — — 74,104 74,104 Other asset-backed securities — 135,342 13,177 148,519 Total fixed maturities $ — $ 18,147,738 $ 759,409 $ 18,907,147 Percentage of total — % 96 % 4 % 100 %
Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs, and Unrealized Gains (Losses) Included in Other Comprehensive Income	The following tables represent changes in fixed maturities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (318) (5,220) 11,324 5,786 Acquisitions — — 17,820 17,820 Sales — — — — Amortization — 3,415 11 3,426 Other (1) 109 (3,642) (38,278) (41,811) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at September 30, 2020 $ 12,968 $ 68,657 $ 664,218 $ 745,843 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) 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. Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Included in realized gains / losses — — — — Included in other comprehensive income 1,043 5,745 34,971 41,759 Acquisitions — — — — Sales — — — — Amortization — 3,459 10 3,469 Other (1) (343) (4,412) (10,710) (15,465) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at September 30, 2019 $ 13,682 $ 78,161 $ 577,742 $ 669,585 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) 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 changes in unrealized gains or (losses) for the period included in other comprehensive income for assets held at the end of the reporting period for Level 3s: Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period Asset- Collateralized Corporates Total At September 30, 2020 $ (318) $ (5,220) $ 11,324 $ 5,786 At September 30, 2019 1,043 5,745 34,971 41,759
Schedule of Additional 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 Months Twelve Months or Longer Total Number of issues (CUSIPs) held: As of September 30, 2020 172 29 201 As of December 31, 2019 82 51 133
Schedule of Unrealized Investment Losses by Class of Investment	The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale for which an allowance for credit losses has not been recorded at September 30, 2020. Analysis of Gross Unrealized Investment Losses At September 30, 2020 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ — $ — $ — $ — $ — States, municipalities and political subdivisions 142,060 (3,887) — — 142,060 (3,887) Foreign governments 9,514 (80) — — 9,514 (80) Corporates, by sector: Financial 246,528 (5,404) 5,897 (2,603) 252,425 (8,007) Utilities 2,557 (27) — — 2,557 (27) Energy 82,548 (4,161) 15,536 (1,388) 98,084 (5,549) Other corporate sectors 77,577 (2,524) — — 77,577 (2,524) Total corporates 409,210 (12,116) 21,433 (3,991) 430,643 (16,107) Other asset-backed securities 29,744 (4,190) 7 — 29,751 (4,190) Total investment grade securities 590,528 (20,273) 21,440 (3,991) 611,968 (24,264) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 34,614 (5,332) 102,402 (30,292) 137,016 (35,624) Utilities — — — — — — Energy 117,927 (12,588) 43,620 (6,252) 161,547 (18,840) Other corporate sectors 46,728 (9,281) 71,979 (6,908) 118,707 (16,189) Total corporates 199,269 (27,201) 218,001 (43,452) 417,270 (70,653) Collateralized debt obligations — — 10,186 (9,814) 10,186 (9,814) Other asset-backed securities — — 12,339 (1,684) 12,339 (1,684) Total below investment grade securities 199,269 (27,201) 240,526 (54,950) 439,795 (82,151) Total fixed maturities $ 789,797 $ (47,474) $ 261,966 $ (58,941) $ 1,051,763 $ (106,415) The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2019. Globe Life considered these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At December 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 1,255 $ (2) $ 21,044 $ (294) $ 22,299 $ (296) States, municipalities and political subdivisions 66,774 (626) — — 66,774 (626) Foreign governments 6,496 (396) — — 6,496 (396) Corporates, by sector: Financial 117,389 (1,733) 7,183 (1,317) 124,572 (3,050) Utilities 8,400 (166) — — 8,400 (166) Energy 52,312 (1,058) 1,833 (115) 54,145 (1,173) Other corporate sectors 136,386 (1,584) 61,473 (3,260) 197,859 (4,844) Total corporates 314,487 (4,541) 70,489 (4,692) 384,976 (9,233) Other asset-backed securities — — — — — — Total investment grade securities 389,012 (5,565) 91,533 (4,986) 480,545 (10,551) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial — — 113,481 (19,257) 113,481 (19,257) Utilities 7,529 (135) 14,985 (1,264) 22,514 (1,399) Energy 14,968 (146) 69,956 (32,406) 84,924 (32,552) Other corporate sectors — — 67,655 (11,921) 67,655 (11,921) Total corporates 22,497 (281) 266,077 (64,848) 288,574 (65,129) Collateralized debt obligations — — 12,816 (7,184) 12,816 (7,184) Other asset-backed securities — — 13,879 (371) 13,879 (371) Total below investment grade securities 22,497 (281) 292,772 (72,403) 315,269 (72,684) Total fixed maturities $ 411,509 $ (5,846) $ 384,305 $ (77,389) $ 795,814 $ (83,235)
Fixed Maturities, Allowance for Credit Loss	A summary of the activity in the allowance for credit losses is as follows. Refer to Note 1 for factors considered in the recording of the allowance for credit losses. Three Months Ended Nine Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 32,719 $ — $ — $ — Additions to allowance for which credit losses were not previously recorded 4,387 — 37,106 — Additions (reductions) to allowance for fixed maturities that previously had an allowance — — — — Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell or sold during the period (32,719) — (32,719) — Allowance for credit losses ending balance $ 4,387 $ — $ 4,387 $ —
Other Long-Term Investments	Other long-term investments consist of the following assets: September 30, December 31, Investment funds $ 326,641 $ 185,851 Commercial mortgage loan participations 164,902 137,692 Other 1,341 2,804 Total $ 492,884 $ 326,347
Summary of Commercial Mortgage Loan Participations	Summaries of commercial mortgage loans by property type and geographical location at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Property type: Office $ 41,622 25 $ 42,350 31 Mixed use 48,348 29 27,501 20 Hospitality 23,030 14 22,324 16 Industrial 17,885 11 17,612 13 Retail 19,137 12 17,318 12 Multi-family 18,599 11 10,587 8 Total recorded investment 168,621 102 137,692 100 Less allowance for credit losses (3,719) (2) — — Carrying value, net of allowance for credit losses $ 164,902 100 $ 137,692 100 September 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Geographic location: South Atlantic $ 52,397 32 $ 50,867 37 Pacific 62,297 38 36,546 27 Middle Atlantic 28,268 17 25,328 18 East North Central 10,597 6 10,568 8 West South Central 8,971 5 8,072 6 East South Central 4,700 3 4,676 3 West North Central 1,391 1 — — New England — — 1,635 1 Total recorded investment 168,621 102 137,692 100 Less allowance for credit losses (3,719) (2) — — Carrying value, net of allowance for credit losses $ 164,902 100 $ 137,692 100
Commercial Loan Participations, Allowance for Credit Loss	Three Months Ended Nine Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 3,838 $ — $ — $ — Cumulative effect of adoption ASU 2016-13 — — 335 — Provision (reversal) for credit losses (119) — 3,384 — Loans charge-off — — — — Allowance for credit losses ending balance $ 3,719 $ — $ 3,719 $ —
Commercial Loan Participations, Past Due	The following table presents the aging of the amortized cost basis of delinquent commercial mortgage loans. Loans are considered delinquent after 30 days. As of September 30, 2020 30-59 Days Delinquent 60-89 days Delinquent Greater than 90 Days Delinquent Total Delinquent Commercial mortgage loans $ — $ — $ 3,524 $ 3,524 Number of delinquent commercial mortgage loans — — 1 1
Commercial Loan Participations, Credit Quality Indicators	September 30, 2020 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 15,282 $ 107,381 $ — $ 122,663 74 70% to 80% 1,368 16,753 — 18,121 11 81% to 90% 7,591 — — 7,591 5 Greater than 90% 5,290 11,237 — 16,527 10 Total $ 29,531 $ 135,371 $ — $ 164,902 100 December 31, 2019 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 64,160 $ 47,634 $ 12,666 $ 124,460 90 70% to 80% 11,445 1,787 — 13,232 10 81% to 90% — — — — — Greater than 90% — — — — — Total $ 75,605 $ 49,421 $ 12,666 $ 137,692 100 (1) Annual net operating income divided by annual mortgage debt service (principal and interest). (2) Loan balance divided by the fair value of the property. LTVs are generally assessed on an annual basis, or more frequently when a loan is materially underperforming, greater than 30 days delinquent, or in technical default.

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Summary of Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: Nine Months Ended 2020 2019 Balance at beginning of period $ 163,808 $ 154,528 Incurred related to: Current year 439,860 454,186 Prior year (13,136) (851) Total incurred 426,724 453,335 Paid related to: Current year 307,582 326,553 Prior year 123,066 123,803 Total paid 430,648 450,356 Balance at end of period $ 159,884 $ 157,507
Reconciliation of Policy Claims and Other Benefits Payable	Below is the reconciliation of the liability of "Policy claims and other benefits payable " in the Condensed Consolidated Balance Sheets . September 30, December 31, Policy claims and other benefits payable: Life insurance $ 207,569 $ 201,594 Health insurance 159,884 163,808 Total $ 367,453 $ 365,402

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Pension Assets by Component at Fair Value	Pension Assets by Component at September 30, 2020 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 53,219 $ — $ 53,219 11 Utilities — 45,364 — 45,364 9 Energy — 21,100 — 21,100 4 Other corporates — 92,372 — 92,372 19 Total corporate bonds — 212,055 — 212,055 43 Exchange traded fund (1) 217,649 — — 217,649 43 Other bonds — 264 — 264 — Guaranteed annuity contract (2) — 30,250 — 30,250 6 Short-term investments 18,023 — — 18,023 4 Other 6,883 — — 6,883 1 $ 242,555 $ 242,569 $ — 485,124 97 Other long-term investments (3) 15,649 3 Total pension assets $ 500,773 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Non-Exempt Employees Defined Benefit Pension Plan ("American Income Pension Plan"). (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns less than 1% of the investment fund. As of September 30, 2020, the expected term of the investment fund is approximately 4 years and the commitment of the investment is fully funded. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. Pension Assets by Component at December 31, 2019 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 51,111 $ — $ 51,111 11 Utilities — 42,758 — 42,758 9 Energy — 21,907 — 21,907 5 Other corporates — 89,725 — 89,725 19 Total corporate bonds — 205,501 — 205,501 44 Exchange traded fund (1) 207,176 — — 207,176 44 Other bonds — 251 — 251 — Guaranteed annuity contract (2) — 28,278 — 28,278 6 Short-term investments 8,414 — — 8,414 2 Other 6,876 — — 6,876 1 $ 222,466 $ 234,030 $ — 456,496 97 Other long-term investments (3) 12,267 3 Total pension assets $ 468,763 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns approximately 1% of the investment fund. As of December 31, 2019, the expected term of the investment fund is approximately 5 years and the unfunded commitment of the investment fund is $4.1 million. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures.
Information Regarding the SERP	The following table includes information regarding the SERP. Nine Months Ended 2020 2019 Premiums paid for insurance coverage $ 2,480 $ 2,394 September 30, December 31, Total investments: Company owned life insurance $ 50,985 $ 47,733 Exchange traded funds 68,862 65,585 $ 119,847 $ 113,318
Pension Liability	The following table presents liabilities for the defined benefit pension plans and SERP at September 30, 2020 and December 31, 2019. September 30, December 31, Defined benefit pension $ 602,174 $ 578,860 SERP 87,018 86,347 Pension benefit obligation $ 689,192 $ 665,207
Net Periodic Benefit Cost	The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and nine months ended September 30, 2020 and 2019. Components of Net Periodic Benefit Cost Three Months Ended Nine Months Ended 2020 2019 2020 2019 Service cost $ 6,116 $ 4,982 $ 18,347 $ 14,947 Interest cost 5,653 5,964 16,951 17,892 Expected return on assets (7,390) (6,966) (22,171) (20,898) Amortization: Prior service cost 158 158 474 474 Actuarial (gain) loss 3,921 1,894 11,770 5,684 Net periodic benefit cost $ 8,458 $ 6,032 $ 25,371 $ 18,099

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Weighted-Average Shares Outstanding	A reconciliation of basic and diluted weighted-average shares outstanding used in the computation of basic and diluted earnings per share is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic weighted average shares outstanding 106,146,809 108,813,355 106,622,704 109,582,748 Weighted average dilutive options outstanding 906,302 2,100,378 1,082,474 2,009,262 Diluted weighted average shares outstanding 107,053,111 110,913,733 107,705,178 111,592,010 Antidilutive shares 4,007,482 — 2,415,182 1,359,186

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Selected Information about Debt Issues	The following table presents information about the terms and outstanding balances of Globe Life's debt. Selected Information about Debt Issues As of September 30, December 31, 2019 Instrument Issue Date Maturity Date Coupon Rate Interest Payment Dates Par Book Fair Book Senior notes 5/27/1993 5/15/2023 7.875% semiannual $ 165,612 $ 164,892 $ 194,604 $ 164,713 Senior notes (1) 9/24/2012 9/15/2022 3.800% semiannual 150,000 149,331 159,212 149,089 Senior notes 9/27/2018 9/15/2028 4.550% semiannual 550,000 544,179 655,501 543,735 Senior notes 8/21/2020 8/15/2030 2.150% semiannual 400,000 395,091 401,152 — Junior subordinated debentures 5/17/2016 6/15/2056 6.125% quarterly 300,000 290,635 308,760 290,584 Junior subordinated debentures 11/17/2017 11/17/2057 5.275% semiannual 125,000 123,378 122,935 123,367 Term loan — — — 86,875 1,690,612 1,667,506 1,842,164 1,358,363 Less current maturity of term loan — — — 9,375 Total long-term debt 1,690,612 1,667,506 1,842,164 1,348,988 Current maturity of term loan — — — 9,375 Commercial paper 280,000 279,758 279,758 289,363 Total short-term debt 280,000 279,758 279,758 298,738 Total debt $ 1,970,612 $ 1,947,264 $ 2,121,922 $ 1,647,726

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Premium Income by Distribution Channel	Premium Income by Distribution Channel Three Months Ended September 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 318,917 47 $ 27,029 9 $ — — $ 345,946 36 Direct to Consumer 227,734 34 19,017 7 — — 246,751 26 Liberty National 73,815 11 47,199 16 — — 121,014 13 United American 2,402 — 114,325 40 1 100 116,728 12 Family Heritage 1,081 — 80,225 28 — — 81,306 8 Other 50,072 8 — — — — 50,072 5 $ 674,021 100 $ 287,795 100 $ 1 100 $ 961,817 100 Three Months Ended September 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 293,149 47 $ 25,312 9 $ — — $ 318,461 35 Direct to Consumer 211,693 34 19,135 7 — — 230,828 26 Liberty National 71,812 11 47,439 18 — — 119,251 13 United American 2,602 — 103,112 38 3 100 105,717 12 Family Heritage 971 — 74,168 28 — — 75,139 8 Other 50,597 8 — — — — 50,597 6 $ 630,824 100 $ 269,166 100 $ 3 100 $ 899,993 100 Premium Income by Distribution Channel Nine Months Ended September 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 930,444 47 $ 78,310 9 $ — — $ 1,008,754 36 Direct to Consumer 682,978 34 57,873 7 — — 740,851 26 Liberty National 220,009 11 142,230 17 — — 362,239 13 United American 7,373 — 337,269 39 4 100 344,646 12 Family Heritage 3,144 — 235,195 28 — — 238,339 8 Other 150,525 8 — — — — 150,525 5 $ 1,994,473 100 $ 850,877 100 $ 4 100 $ 2,845,354 100 Nine Months Ended September 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 863,250 46 $ 73,861 9 $ — — $ 937,111 35 Direct to Consumer 646,530 34 58,644 7 — — 705,174 26 Liberty National 214,007 11 142,887 18 — — 356,894 13 United American 8,000 1 308,271 39 4 100 316,275 12 Family Heritage 2,829 — 218,469 27 — — 221,298 8 Other 151,698 8 — — — — 151,698 6 $ 1,886,314 100 $ 802,132 100 $ 4 100 $ 2,688,450 100
Reconciliation of Segment Operating Information to Consolidated Statement of Operations	Three Months Ended September 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 674,021 $ 287,795 $ 1 $ — $ — $ — $ 961,817 Net investment income — — — 231,432 — — 231,432 Other income — — — — 292 — 292 Total revenue 674,021 287,795 1 231,432 292 — 1,193,541 Expenses: Policy benefits 459,231 184,237 7,508 — — — 650,976 Required interest on reserves (175,794) (23,770) (10,347) 209,911 — — — Required interest on DAC 52,709 6,689 81 (59,479) — — — Amortization of acquisition costs 114,316 26,026 501 — — — 140,843 Commissions, premium taxes, and non-deferred acquisition costs 52,856 21,753 5 — — — 74,614 Insurance administrative expense (1) — — — — 63,008 710 (2) 63,718 Parent expense — — — — 2,689 323 (2) 3,012 Stock-based compensation expense — — — — 8,667 — 8,667 Interest expense — — — 21,674 — — 21,674 Total expenses 503,318 214,935 (2,252) 172,106 74,364 1,033 963,504 Subtotal 170,703 72,860 2,253 59,326 (74,072) (1,033) 230,037 Non-operating items — — — — — 1,033 (2) 1,033 Measure of segment profitability (pretax) $ 170,703 $ 72,860 $ 2,253 $ 59,326 $ (74,072) $ — 231,070 Realized gain (loss)—investments 2,135 Realized loss—redemption of debt (634) Non-operating expenses (1,033) Income before income taxes per Condensed Consolidated Statements of Operations $ 231,538 (1) Administrative expense is not allocated to insurance segments. (2) Non-operating expenses. Three Months Ended September 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 630,824 $ 269,166 $ 3 $ — $ — $ — $ 899,993 Net investment income — — — 228,905 — — 228,905 Other income — — — — 438 — 438 Total revenue 630,824 269,166 3 228,905 438 — 1,129,336 Expenses: Policy benefits 406,963 170,875 7,854 — — — 585,692 Required interest on reserves (167,719) (21,955) (10,832) 200,506 — — — Required interest on DAC 50,948 6,395 125 (57,468) — — — Amortization of acquisition costs 108,798 29,151 500 — — — 138,449 Commissions, premium taxes, and non-deferred acquisition costs 50,375 23,759 5 — — — 74,139 Insurance administrative expense (1) — — — — 60,570 — 60,570 Parent expense — — — — 2,472 — 2,472 Stock-based compensation expense — — — — 11,533 — 11,533 Interest expense — — — 21,094 — — 21,094 Total expenses 449,365 208,225 (2,348) 164,132 74,575 — 893,949 Subtotal 181,459 60,941 2,351 64,773 (74,137) — 235,387 Non-operating items — — — — — — — Measure of segment profitability (pretax) $ 181,459 $ 60,941 $ 2,351 $ 64,773 $ (74,137) $ — 235,387 Realized gain (loss)—investments 11,943 Income before income taxes per Condensed Consolidated Statements of Oper ations $ 247,330 (1) Administrative expense is not allocated to insurance segments. Nine Months Ended September 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,994,473 $ 850,877 $ 4 $ — $ — $ — $ 2,845,354 Net investment income — — — 691,991 — — 691,991 Other income — — — — 1,021 — 1,021 Total revenue 1,994,473 850,877 4 691,991 1,021 — 3,538,366 Expenses: Policy benefits 1,340,746 546,444 22,571 — — — 1,909,761 Required interest on reserves (520,207) (69,131) (31,135) 620,473 — — — Required interest on DAC 156,934 19,790 253 (176,977) — — — Amortization of acquisition costs 346,426 82,905 1,509 — — — 430,840 Commissions, premium taxes, and non-deferred acquisition costs 159,369 70,304 18 — — — 229,691 Insurance administrative expense (1) — — — — 188,194 3,985 (2,3) 192,179 Parent expense — — — — 7,536 323 (3) 7,859 Stock-based compensation expense — — — — 26,655 — 26,655 Interest expense — — — 65,295 — — 65,295 Total expenses 1,483,268 650,312 (6,784) 508,791 222,385 4,308 2,862,280 Subtotal 511,205 200,565 6,788 183,200 (221,364) (4,308) 676,086 Non-operating items — — — — — 4,308 (2,3) 4,308 Measure of segment profitability (pretax) $ 511,205 $ 200,565 $ 6,788 $ 183,200 $ (221,364) $ — 680,394 Realized gain (loss)—investments (28,752) Realized loss—redemption of debt (634) Legal proceedings (3,275) Non-operating expenses (1,033) Income before income taxes per Condensed Consolidated Statements of Operations $ 646,700 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. (3) Non-operating expenses. Nine Months Ended September 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,886,314 $ 802,132 $ 4 $ — $ — $ — $ 2,688,450 Net investment income — — — 683,003 — — 683,003 Other income — — — — 1,077 — 1,077 Total revenue 1,886,314 802,132 4 683,003 1,077 — 3,372,530 Expenses: Policy benefits 1,227,616 511,403 23,792 — — — 1,762,811 Required interest on reserves (496,894) (65,131) (32,840) 594,865 — — — Required interest on DAC 151,270 19,019 383 (170,672) — — — Amortization of acquisition costs 327,407 83,508 1,521 — — — 412,436 Commissions, premium taxes, and non-deferred acquisition costs 150,567 70,719 16 — — — 221,302 Insurance administrative expense (1) — — — — 179,177 5,900 (2,3) 185,077 Parent expense — — — — 7,987 — 7,987 Stock-based compensation expense — — — — 33,348 — 33,348 Interest expense — — — 63,804 — — 63,804 Total expenses 1,359,966 619,518 (7,128) 487,997 220,512 5,900 2,686,765 Subtotal 526,348 182,614 7,132 195,006 (219,435) (5,900) 685,765 Non-operating items — — — — — 5,900 (2,3) 5,900 Measure of segment profitability (pretax) $ 526,348 $ 182,614 $ 7,132 $ 195,006 $ (219,435) $ — 691,665 Realized gain (loss)—investments 18,426 Administrative settlements (400) Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 704,191 (1) Administrative expense is not allocated to insurance segments. (2) Administrative settlements. (3) Legal proceedings.

Significant Accounting Polici_4

Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020USD ($)numberOfSegments	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)		Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Number of reportable segments | numberOfSegments			4
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201613Member
Shareholders' equity	$ 6,520,282	$ 6,043,426	$ 8,224,908	$ 7,848,369	$ 7,294,307		$ 7,312,531	$ 6,700,398	$ 5,415,177
Assets:
Other long-term investments			492,884		326,347
Agent debit balances			438,000		423,877
Accrued interest receivable			457
Agent debit balances, allowance for credit losses			1,200		1,000
Unfunded loan commitment
Assets:
Carrying value, net of valuation allowance			81,000
Commercial mortgage participations
Assets:
Other long-term investments			$ 164,902		137,692
Loan receivable, typical term			3 years
Loan receivable, extension term			2 years
Carrying value, net of valuation allowance			$ 164,902		137,692
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity		105			(454)	[1]			(497)	[2]
Assets:
Agent debit balances					(240)
Cumulative Effect, Period Of Adoption, Adjustment | Commercial mortgage participations
Assets:
Other long-term investments					(335)
Cumulative Effect, Period Of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity					7,293,853				5,414,680
Assets:
Agent debit balances					423,637
Cumulative Effect, Period Of Adoption, Adjusted Balance | Commercial mortgage participations
Assets:
Other long-term investments					137,357
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity	$ 5,686,431	5,364,820	$ 6,002,407	$ 5,838,930	5,551,329		$ 5,686,636	$ 5,514,517	5,213,468
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity		$ 105			(454)	[1]			(497)	[2]
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment | Accounting Standards Update 2016-13, Adjustment for Commercial Loan Participations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity					(265)
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment | Accounting Standards Update 2016-13, Adjustment for Agent Debit Balances
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity					(189)
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity					$ 5,550,875				$ 5,212,971
[1]	Adoption of Accounting Standard Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, on January 1, 2020. See more information in Note 2—New Accounting Standards .
[2]	Adoption of ASU 2016-02, Leases (Topic 842) , on January 1, 2019.

Supplemental Information abou_3

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Schedule of Change in Balance by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	$ 7,848,369	$ 6,700,398	$ 7,294,307	$ 5,415,177
Other comprehensive income (loss) before reclassifications, net of tax	306,091	510,906	666,660	1,629,931
Reclassifications, net of tax	12,635	(7,032)	39,129	(6,282)
Other comprehensive income (loss)	318,726	503,874	705,789	1,623,649
Ending balance	8,224,908	7,312,531	8,224,908	7,312,531
Total
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	2,231,893	1,439,250	1,844,830	319,475
Ending balance	2,550,619	1,943,124	2,550,619	1,943,124
Available for Sale Assets
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	2,370,832	1,552,108	1,982,650	435,698
Other comprehensive income (loss) before reclassifications, net of tax	301,423	513,812	669,680	1,632,819
Reclassifications, net of tax	9,352	(8,706)	29,277	(11,303)
Other comprehensive income (loss)	310,775	505,106	698,957	1,621,516
Ending balance	2,681,607	2,057,214	2,681,607	2,057,214
Deferred Acquisition Costs
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(5,312)	(6,556)	(5,916)	(4,163)
Other comprehensive income (loss) before reclassifications, net of tax	304	318	908	(2,075)
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	304	318	908	(2,075)
Ending balance	(5,008)	(6,238)	(5,008)	(6,238)
Foreign Exchange
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	3,766	8,906	12,058	6,495
Other comprehensive income (loss) before reclassifications, net of tax	4,364	(3,224)	(3,928)	(813)
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	4,364	(3,224)	(3,928)	(813)
Ending balance	8,130	5,682	8,130	5,682
Pension Adjustments
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(137,393)	(115,208)	(143,962)	(118,555)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	0	0
Reclassifications, net of tax	3,283	1,674	9,852	5,021
Other comprehensive income (loss)	3,283	1,674	9,852	5,021
Ending balance	$ (134,110)	$ (113,534)	$ (134,110)	$ (113,534)

Supplemental Information abou_4

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Summary of Reclassifications (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Unrealized investment (gains) losses on available for sale assets:
Realized (gains) losses	$ (2,135)	$ (11,943)	$ 28,752	$ (18,426)
Net investment income	(231,432)	(228,905)	(691,991)	(683,003)
Other operating expense	75,397	74,575	226,693	226,412
Total before tax	(231,538)	(247,330)	(646,700)	(704,191)
Tax	42,593	45,512	119,167	130,370
Total after-tax	(188,945)	(201,818)	(527,533)	(573,729)
Reclassification out of Accumulated Other Comprehensive Income
Unrealized investment (gains) losses on available for sale assets:
Total after-tax	12,635	(7,032)	39,129	(6,282)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Available for Sale Assets
Unrealized investment (gains) losses on available for sale assets:
Realized (gains) losses	10,276	(12,430)	32,133	(18,337)
Net investment income	1,562	1,410	4,927	4,030
Total before tax	11,838	(11,020)	37,060	(14,307)
Tax	(2,486)	2,314	(7,783)	3,004
Total after-tax	9,352	(8,706)	29,277	(11,303)
Reclassification out of Accumulated Other Comprehensive Income | Pension Adjustments
Unrealized investment (gains) losses on available for sale assets:
Total before tax	4,156	2,117	12,471	6,355
Tax	(873)	(443)	(2,619)	(1,334)
Total after-tax	3,283	1,674	9,852	5,021
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost
Unrealized investment (gains) losses on available for sale assets:
Other operating expense	158	158	474	474
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial (gain) loss
Unrealized investment (gains) losses on available for sale assets:
Other operating expense	$ 3,998	$ 1,959	$ 11,997	$ 5,881

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 16,892,054		$ 16,415,776
Allowance for Credit Losses	(4,387)		0
Fair Value	20,277,056		18,907,147
Corporates
Debt Securities, Available-for-sale [Line Items]
Allowance for Credit Losses	(4,387)	$ (32,719)	0	$ 0	$ 0	$ 0
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,892,054		16,415,776
Allowance for Credit Losses	(4,387)
Gross Unrealized Gains	3,495,804		2,574,606
Gross Unrealized Losses	(106,415)		(83,235)
Fair Value	$ 20,277,056		$ 18,907,147
Percentage of Fixed Maturities at Fair Value	100.00%		100.00%
Fixed maturities available for sale | U.S. Government direct, guaranteed, and government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 375,836		$ 396,079
Allowance for Credit Losses	0
Gross Unrealized Gains	95,166		41,737
Gross Unrealized Losses	0		(296)
Fair Value	$ 471,002		$ 437,520
Percentage of Fixed Maturities at Fair Value	2.00%		2.00%
Fixed maturities available for sale | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,703,408		$ 1,559,736
Allowance for Credit Losses	0
Gross Unrealized Gains	224,303		158,546
Gross Unrealized Losses	(3,887)		(626)
Fair Value	$ 1,923,824		$ 1,717,656
Percentage of Fixed Maturities at Fair Value	10.00%		9.00%
Fixed maturities available for sale | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 44,130		$ 25,874
Allowance for Credit Losses	0
Gross Unrealized Gains	3,361		2,073
Gross Unrealized Losses	(80)		(396)
Fair Value	$ 47,411		$ 27,551
Percentage of Fixed Maturities at Fair Value	0.00%		0.00%
Fixed maturities available for sale | Corporates
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 14,580,197		$ 14,233,301
Allowance for Credit Losses	(4,387)
Gross Unrealized Gains	3,147,820		2,342,858
Gross Unrealized Losses	(86,760)		(74,362)
Fair Value	$ 17,636,870		$ 16,501,797
Percentage of Fixed Maturities at Fair Value	87.00%		88.00%
Fixed maturities available for sale | Corporates | Financial
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 4,335,786		$ 4,101,917
Allowance for Credit Losses	0
Gross Unrealized Gains	898,119		701,196
Gross Unrealized Losses	(43,631)		(22,307)
Fair Value	$ 5,190,274		$ 4,780,806
Percentage of Fixed Maturities at Fair Value	26.00%		25.00%
Fixed maturities available for sale | Corporates | Utilities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,956,732		$ 1,937,738
Allowance for Credit Losses	0
Gross Unrealized Gains	557,816		416,114
Gross Unrealized Losses	(27)		(1,565)
Fair Value	$ 2,514,521		$ 2,352,287
Percentage of Fixed Maturities at Fair Value	12.00%		13.00%
Fixed maturities available for sale | Corporates | Energy
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,623,191		$ 1,678,969
Allowance for Credit Losses	(4,387)
Gross Unrealized Gains	244,236		269,640
Gross Unrealized Losses	(24,389)		(33,725)
Fair Value	$ 1,838,651		$ 1,914,884
Percentage of Fixed Maturities at Fair Value	9.00%		10.00%
Fixed maturities available for sale | Corporates | Other corporate sectors
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6,664,488		$ 6,514,677
Allowance for Credit Losses	0
Gross Unrealized Gains	1,447,649		955,908
Gross Unrealized Losses	(18,713)		(16,765)
Fair Value	$ 8,093,424		$ 7,453,820
Percentage of Fixed Maturities at Fair Value	40.00%		40.00%
Fixed maturities available for sale | Collateralized debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 56,763		$ 56,990
Allowance for Credit Losses	0
Gross Unrealized Gains	21,708		24,298
Gross Unrealized Losses	(9,814)		(7,184)
Fair Value	$ 68,657		$ 74,104
Percentage of Fixed Maturities at Fair Value	0.00%		0.00%
Fixed maturities available for sale | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 131,720		$ 143,796
Allowance for Credit Losses	0
Gross Unrealized Gains	3,446		5,094
Gross Unrealized Losses	(5,874)		(371)
Fair Value	$ 129,292		$ 148,519
Percentage of Fixed Maturities at Fair Value	1.00%		1.00%

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Amortized Cost, net
Due in one year or less	$ 46,963
Due after one year through five years	762,252
Due after five years through ten years	1,794,849
Due after ten years through twenty years	6,027,005
Due after twenty years	8,067,809
Mortgage-backed and asset-backed securities	188,789
Fixed maturities, net of allowance for credit losses	16,887,667
Fair Value
Due in one year or less	47,877
Due after one year through five years	836,895
Due after five years through ten years	2,118,729
Due after ten years through twenty years	7,578,897
Due after twenty years	9,496,378
Mortgage-backed and asset-backed securities	198,280
Fixed maturities, fair value	$ 20,277,056	$ 18,907,147

Investments - Schedule of Analy

Investments - Schedule of Analysis of Investment Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Investment Income [Line Items]
Investment income, gross	$ 236,154	$ 232,732	$ 705,378	$ 694,780
Less investment expense	(4,722)	(3,827)	(13,387)	(11,777)
Net investment income	$ 231,432	228,905	$ 691,991	683,003
Percentage change in investment income, gross	1.00%		2.00%
Percentage change in investment expense	23.00%		14.00%
Percentage change in net investment income	1.00%		1.00%
Fixed maturities available for sale
Net Investment Income [Line Items]
Investment income, gross	$ 217,900	216,154	$ 652,583	647,784
Percentage change in investment income, gross	1.00%		1.00%
Policy loans
Net Investment Income [Line Items]
Investment income, gross	$ 11,241	10,959	$ 33,572	32,416
Percentage change in investment income, gross	3.00%		4.00%
Other long-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 6,925	5,105	$ 18,694	12,484
Percentage change in investment income, gross	36.00%		50.00%
Short-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 88	514	$ 529	2,096
Percentage change in investment income, gross	(83.00%)		(75.00%)
Fair value option
Net Investment Income [Line Items]
Net investment income	$ 4,000	$ 1,500	$ 10,500	$ 4,200

Investments - Schedule of Selec

Investments - Schedule of Selected Information about Sales of Fixed Maturities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales			$ 52,681	$ 62,151
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 661	$ 27,154	52,681	62,151
Gross realized gains	0	1,031	2,642	1,077
Gross realized losses	$ (38,782)	$ (604)	$ (39,153)	$ (3,631)

Investments - Realized Gain (Lo

Investments - Realized Gain (Loss) on Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Realized investment gains (losses) - sales and other	$ (38,608)	$ 12,430	$ (27,746)	$ 18,337
Provision for credit losses	28,332	0	(4,387)	0
Fair value option—change in fair value	12,053	(487)	(6,798)	197
Other investments	358	0	10,179	(108)
Realized gains (losses) from investments	2,135	11,943	(28,752)	18,426
Realized loss on redemption of debt	(634)	0	(634)	0
Realized gains (losses)	1,501	11,943	(29,386)	18,426
Applicable tax	463	(2,508)	6,949	(3,869)
Realized gains (losses), net of tax	1,964	9,435	(22,437)	14,557
Exchanges of fixed maturities	65,800	43,700	152,100	161,000
Exchanges of fixed maturities, net realized gains	$ 0	$ 11,800	$ 7,900	$ 20,100

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 20,277,056	$ 18,907,147
Percentage of total	4.00%		4.00%
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of total	3.00%		3.00%
Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of total	1.00%		1.00%
Fixed maturities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 20,277,056	$ 18,907,147
Percentage of total	100.00%	100.00%
Fixed maturities available for sale | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 471,002	$ 437,520
Fixed maturities available for sale | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,923,824	1,717,656
Fixed maturities available for sale | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	47,411	27,551
Fixed maturities available for sale | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,636,870	16,501,797
Fixed maturities available for sale | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,190,274	4,780,806
Fixed maturities available for sale | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,514,521	2,352,287
Fixed maturities available for sale | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,838,651	1,914,884
Fixed maturities available for sale | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,093,424	7,453,820
Fixed maturities available for sale | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	68,657	74,104
Fixed maturities available for sale | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	129,292	148,519
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Percentage of total	0.00%	0.00%
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 19,531,213	$ 18,147,738
Percentage of total	96.00%	96.00%
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 471,002	$ 437,520
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,923,824	1,717,656
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	47,411	27,551
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,972,652	15,829,669
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,042,580	4,628,875
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,334,286	2,195,539
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,801,028	1,873,482
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,794,758	7,131,773
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	116,324	135,342
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 745,843	$ 759,409
Percentage of total	4.00%	4.00%
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	664,218	672,128
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	147,694	151,931
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	180,235	156,748
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	37,623	41,402
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	298,666	322,047
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	68,657	74,104
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 12,968	$ 13,177

Investments - Schedule of Chang

Investments - Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 759,409	$ 639,822
Included in realized gains / losses	1,213	0
Included in other comprehensive income	5,786	41,759
Acquisitions	17,820	0
Sales	0	0
Amortization	3,426	3,469
Other	(41,811)	(15,465)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 745,843	$ 669,585
Percentage of total	4.00%	4.00%
Asset- backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 13,177	$ 12,982
Included in realized gains / losses	0	0
Included in other comprehensive income	(318)	1,043
Acquisitions	0	0
Sales	0	0
Amortization	0	0
Other	109	(343)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 12,968	$ 13,682
Percentage of total	0.00%	0.00%
Collateralized debt obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 74,104	$ 73,369
Included in realized gains / losses	0	0
Included in other comprehensive income	(5,220)	5,745
Acquisitions	0	0
Sales	0	0
Amortization	3,415	3,459
Other	(3,642)	(4,412)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 68,657	$ 78,161
Percentage of total	1.00%	1.00%
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 672,128	$ 553,471
Included in realized gains / losses	1,213	0
Included in other comprehensive income	11,324	34,971
Acquisitions	17,820	0
Sales	0	0
Amortization	11	10
Other	(38,278)	(10,710)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 664,218	$ 577,742
Percentage of total	3.00%	3.00%

Investments - Unrealized Gains

Investments - Unrealized Gains or (Losses) Included in Other Comprehensive Income (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	$ 5,786	$ 41,759
Asset- backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	(318)	1,043
Collateralized debt obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	(5,220)	5,745
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	$ 11,324	$ 34,971

Investments - Information about

Investments - Information about Investments in Unrealized Loss Position (Detail)	Sep. 30, 2020Issueissuer	Dec. 31, 2019issuerIssue
Investments, Debt and Equity Securities [Abstract]
Less than Twelve Months	172	82
Twelve Months or Longer	29	51
Total	201	133
Fixed maturity, portfolio issues	1,822	1,633
Fixed portfolio, number of issuers | issuer	745	656

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	$ 789,797	$ 411,509
Unrealized Loss, Less than Twelve Months	(47,474)	(5,846)
Fair Value, Twelve Months or Longer	261,966	384,305
Unrealized Loss, Twelve Months or Longer	(58,941)	(77,389)
Fair Value	1,051,763	795,814
Total	(106,415)	(83,235)
Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	590,528	389,012
Unrealized Loss, Less than Twelve Months	(20,273)	(5,565)
Fair Value, Twelve Months or Longer	21,440	91,533
Unrealized Loss, Twelve Months or Longer	(3,991)	(4,986)
Fair Value	611,968	480,545
Total	(24,264)	(10,551)
Investment Grade | U.S. Government direct, guaranteed, and government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	1,255
Unrealized Loss, Less than Twelve Months	0	(2)
Fair Value, Twelve Months or Longer	0	21,044
Unrealized Loss, Twelve Months or Longer	0	(294)
Fair Value	0	22,299
Total	0	(296)
Investment Grade | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	142,060	66,774
Unrealized Loss, Less than Twelve Months	(3,887)	(626)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	142,060	66,774
Total	(3,887)	(626)
Investment Grade | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	9,514	6,496
Unrealized Loss, Less than Twelve Months	(80)	(396)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	9,514	6,496
Total	(80)	(396)
Investment Grade | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	409,210	314,487
Unrealized Loss, Less than Twelve Months	(12,116)	(4,541)
Fair Value, Twelve Months or Longer	21,433	70,489
Unrealized Loss, Twelve Months or Longer	(3,991)	(4,692)
Fair Value	430,643	384,976
Total	(16,107)	(9,233)
Investment Grade | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	29,744	0
Unrealized Loss, Less than Twelve Months	(4,190)	0
Fair Value, Twelve Months or Longer	7	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	29,751	0
Total	(4,190)	0
Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	246,528	117,389
Unrealized Loss, Less than Twelve Months	(5,404)	(1,733)
Fair Value, Twelve Months or Longer	5,897	7,183
Unrealized Loss, Twelve Months or Longer	(2,603)	(1,317)
Fair Value	252,425	124,572
Total	(8,007)	(3,050)
Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	2,557	8,400
Unrealized Loss, Less than Twelve Months	(27)	(166)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	2,557	8,400
Total	(27)	(166)
Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	82,548	52,312
Unrealized Loss, Less than Twelve Months	(4,161)	(1,058)
Fair Value, Twelve Months or Longer	15,536	1,833
Unrealized Loss, Twelve Months or Longer	(1,388)	(115)
Fair Value	98,084	54,145
Total	(5,549)	(1,173)
Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	77,577	136,386
Unrealized Loss, Less than Twelve Months	(2,524)	(1,584)
Fair Value, Twelve Months or Longer	0	61,473
Unrealized Loss, Twelve Months or Longer	0	(3,260)
Fair Value	77,577	197,859
Total	(2,524)	(4,844)
Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	199,269	22,497
Unrealized Loss, Less than Twelve Months	(27,201)	(281)
Fair Value, Twelve Months or Longer	240,526	292,772
Unrealized Loss, Twelve Months or Longer	(54,950)	(72,403)
Fair Value	439,795	315,269
Total	(82,151)	(72,684)
Below Investment Grade | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	0	0
Total	0	0
Below Investment Grade | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	199,269	22,497
Unrealized Loss, Less than Twelve Months	(27,201)	(281)
Fair Value, Twelve Months or Longer	218,001	266,077
Unrealized Loss, Twelve Months or Longer	(43,452)	(64,848)
Fair Value	417,270	288,574
Total	(70,653)	(65,129)
Below Investment Grade | Collateralized debt obligations
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	10,186	12,816
Unrealized Loss, Twelve Months or Longer	(9,814)	(7,184)
Fair Value	10,186	12,816
Total	(9,814)	(7,184)
Below Investment Grade | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	12,339	13,879
Unrealized Loss, Twelve Months or Longer	(1,684)	(371)
Fair Value	12,339	13,879
Total	(1,684)	(371)
Below Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	34,614	0
Unrealized Loss, Less than Twelve Months	(5,332)	0
Fair Value, Twelve Months or Longer	102,402	113,481
Unrealized Loss, Twelve Months or Longer	(30,292)	(19,257)
Fair Value	137,016	113,481
Total	(35,624)	(19,257)
Below Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	7,529
Unrealized Loss, Less than Twelve Months	0	(135)
Fair Value, Twelve Months or Longer	0	14,985
Unrealized Loss, Twelve Months or Longer	0	(1,264)
Fair Value	0	22,514
Total	0	(1,399)
Below Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	117,927	14,968
Unrealized Loss, Less than Twelve Months	(12,588)	(146)
Fair Value, Twelve Months or Longer	43,620	69,956
Unrealized Loss, Twelve Months or Longer	(6,252)	(32,406)
Fair Value	161,547	84,924
Total	(18,840)	(32,552)
Below Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	46,728	0
Unrealized Loss, Less than Twelve Months	(9,281)	0
Fair Value, Twelve Months or Longer	71,979	67,655
Unrealized Loss, Twelve Months or Longer	(6,908)	(11,921)
Fair Value	118,707	67,655
Total	$ (16,189)	$ (11,921)

Investments - Fixed Maturities,

Investments - Fixed Maturities, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	Aug. 03, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance				$ 0
Allowance for credit losses ending balance		$ 4,387		4,387
Fixed maturities, available for sale, allowance for credit losses		4,387		0
Fixed maturities available for sale—sold				52,681	$ 62,151
Fixed maturities available for sale
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses ending balance		4,387		4,387
Fixed maturities, available for sale, allowance for credit losses		4,387		4,387
Fixed maturities available for sale—sold		661	$ 27,154	52,681	62,151
Gross realized losses		38,782	604	39,153	3,631
Corporates
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance		32,719	0	0	0
Additions to allowance for which credit losses were not previously recorded		4,387	0	37,106	0
Additions (reductions) to allowance for fixed maturities that previously had an allowance		0	0	0	0
Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell or sold during the period		(32,719)	0	(32,719)	0
Allowance for credit losses ending balance		4,387	0	4,387	0
Fixed maturities, available for sale, allowance for credit losses		4,387	$ 0	4,387	$ 0
Corporates | Fixed maturities available for sale
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses ending balance		4,387		4,387
Fixed maturities, available for sale, allowance for credit losses		4,387		4,387
Corporates | Energy holding investment | Fixed maturities available for sale
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance		32,700
Fixed maturities, available for sale, allowance for credit losses		$ 32,700
Fixed maturities available for sale—sold	$ 660
Gross realized losses	6,000			$ 38,800
Realized loss, accrued investment income	$ 1,000

Investments - Schedule of Other

Investments - Schedule of Other Long-Term Investments (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Long-Term Investment [Line Items]
Other long-term investments	$ 492,884	$ 492,884	$ 326,347
Capital called from investment funds	50,000
Investment funds, unfunded commitments	408,000	$ 408,000
Investment funds | Minimum
Long-Term Investment [Line Items]
Investment funds ownership percentage		1.00%
Investment funds | Maximum
Long-Term Investment [Line Items]
Investment funds ownership percentage		20.00%
Commercial mortgage participations
Long-Term Investment [Line Items]
Other long-term investments	164,902	$ 164,902	137,692
Other
Long-Term Investment [Line Items]
Other long-term investments	1,341	1,341	2,804
Partnership Interest - Fair Value Option | Investment funds
Long-Term Investment [Line Items]
Other long-term investments	$ 326,641	$ 326,641	$ 185,851

Investments - Commercial Mortga

Investments - Commercial Mortgage Loan Participations (Details) - Commercial mortgage participations $ in Thousands	Sep. 30, 2020USD ($)loan	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 168,621		$ 137,692
Carrying value, gross, percent	102.00%		100.00%
Allowance for credit losses	$ (3,719)	$ (3,838)	$ 0	$ 0	$ 0	$ 0
Allowance for credit losses, percent	(2.00%)		0.00%
Carrying value, net of valuation allowance	$ 164,902		$ 137,692
Carrying value, net, percent	100.00%		100.00%
Number of loans | loan	25
South Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 52,397		$ 50,867
Carrying value, gross, percent	32.00%		37.00%
Pacific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 62,297		$ 36,546
Carrying value, gross, percent	38.00%		27.00%
Middle Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 28,268		$ 25,328
Carrying value, gross, percent	17.00%		18.00%
East North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 10,597		$ 10,568
Carrying value, gross, percent	6.00%		8.00%
West South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 8,971		$ 8,072
Carrying value, gross, percent	5.00%		6.00%
East South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 4,700		$ 4,676
Carrying value, gross, percent	3.00%		3.00%
West North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 1,391		$ 0
Carrying value, gross, percent	1.00%		0.00%
New England
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 0		$ 1,635
Carrying value, gross, percent	0.00%		1.00%
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 41,622		$ 42,350
Carrying value, gross, percent	25.00%		31.00%
Mixed use
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 48,348		$ 27,501
Carrying value, gross, percent	29.00%		20.00%
Hospitality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 23,030		$ 22,324
Carrying value, gross, percent	14.00%		16.00%
Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 17,885		$ 17,612
Carrying value, gross, percent	11.00%		13.00%
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 19,137		$ 17,318
Carrying value, gross, percent	12.00%		12.00%
Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 18,599		$ 10,587
Carrying value, gross, percent	11.00%		8.00%

Investments - Commercial Loan P

Investments - Commercial Loan Participations, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member		us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201613Member
Commercial mortgage participations
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans past due, allowance	$ 1,000				$ 1,000
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	3,838	$ 0	$ 0	$ 0	0	$ 0
Provision (reversal) for credit losses	(119)		0		3,384	0
Loans charge-off	0		0		0	0
Allowance for credit losses ending balance	3,719		0		3,719	0
Commercial mortgage participations | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	$ 0	335	$ 0	$ 0	335	$ 0
Commercial mortgage participations | Cumulative Effect, Period of Adoption, Adjustment, Net of Tax
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance		$ 265			$ 265

Investments - Commercial Loan_2

Investments - Commercial Loan Participations, Past Due (Details) - Commercial mortgage participations $ in Thousands	Sep. 30, 2020USD ($)loan	Dec. 31, 2019loan
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 3,524
Loans past due, number of contracts | loan	1	0
30-59 Days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 0
Loans past due, number of contracts | loan	0
60-89 days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 0
Loans past due, number of contracts | loan	0
Greater than 90 Days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 3,524
Loans past due, number of contracts | loan	1

Investments - Commercial Mort_2

Investments - Commercial Mortgage Loan Participations Recorded Investment (Details) - Commercial mortgage participations - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 164,902	$ 137,692
Carrying value, net of valuation allowance, percent	100.00%	100.00%
Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 122,663	$ 124,460
Carrying value, net of valuation allowance, percent	74.00%	90.00%
70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 18,121	$ 13,232
Carrying value, net of valuation allowance, percent	11.00%	10.00%
81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 7,591	$ 0
Carrying value, net of valuation allowance, percent	5.00%	0.00%
Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 16,527	$ 0
Carrying value, net of valuation allowance, percent	10.00%	0.00%
Less Than 1.00x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 29,531	$ 75,605
Less Than 1.00x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	15,282	64,160
Less Than 1.00x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	1,368	11,445
Less Than 1.00x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	7,591	0
Less Than 1.00x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	5,290	0
1.00x-1.20x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	135,371	49,421
1.00x-1.20x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	107,381	47,634
1.00x-1.20x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	16,753	1,787
1.00x-1.20x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
1.00x-1.20x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	11,237	0
Greater Than 1.20x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	12,666
Greater Than 1.20x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	12,666
Greater Than 1.20x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Greater Than 1.20x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Greater Than 1.20x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 0	$ 0

Liability for Unpaid Claims - S

Liability for Unpaid Claims - Summary of Liability for Unpaid Health Claims (Details) - Health premium - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Activity in the Liability for Unpaid Health Claims
Beginning balance	$ 163,808	$ 154,528
Incurred related to:
Current year	439,860	454,186
Prior years	(13,136)	(851)
Total incurred	426,724	453,335
Paid related to:
Current year	307,582	326,553
Prior year	123,066	123,803
Total paid	430,648	450,356
Ending balance	$ 159,884	$ 157,507

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 367,453	$ 365,402
Life insurance
Policy claims and other benefits payable:
Policy claims and other benefits payable	207,569	201,594
Health premium
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 159,884	$ 163,808

Postretirement Benefits - Pensi

Postretirement Benefits - Pension Assets by Components at Fair Value (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Investment funds, unfunded commitments	$ 408,000
Pension plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 500,773	$ 468,763
Percentage of plan assets	100.00%	100.00%
Investment funds, percentage ownership by pension plan	1.00%	1.00%
Expected life of investment	4 years	5 years
Investment funds, unfunded commitments		$ 4,100
Pension plan | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 485,124	$ 456,496
Percentage of plan assets	97.00%	97.00%
Pension plan | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 242,555	$ 222,466
Pension plan | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	242,569	234,030
Pension plan | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension plan | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 15,649	$ 12,267
Percentage of plan assets	3.00%	3.00%
Pension plan | Total corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 212,055	$ 205,501
Percentage of total plan assets, within plan asset category	43.00%	44.00%
Pension plan | Total corporate bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Total corporate bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	212,055	205,501
Pension plan | Total corporate bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Financial
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 53,219	$ 51,111
Percentage of total plan assets, within plan asset category	11.00%	11.00%
Pension plan | Financial | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Financial | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	53,219	51,111
Pension plan | Financial | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Utilities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 45,364	$ 42,758
Percentage of total plan assets, within plan asset category	9.00%	9.00%
Pension plan | Utilities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Utilities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	45,364	42,758
Pension plan | Utilities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Energy
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 21,100	$ 21,907
Percentage of total plan assets, within plan asset category	4.00%	5.00%
Pension plan | Energy | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Energy | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	21,100	21,907
Pension plan | Energy | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other corporates
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 92,372	$ 89,725
Percentage of total plan assets, within plan asset category	19.00%	19.00%
Pension plan | Other corporates | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Other corporates | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	92,372	89,725
Pension plan | Other corporates | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Exchange traded funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 217,649	$ 207,176
Percentage of total plan assets, within plan asset category	43.00%	44.00%
Pension plan | Exchange traded funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 217,649	$ 207,176
Pension plan | Exchange traded funds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Exchange traded funds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 264	$ 251
Percentage of total plan assets, within plan asset category	0.00%	0.00%
Pension plan | Other bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Other bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	264	251
Pension plan | Other bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Guaranteed annuity contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 30,250	$ 28,278
Percentage of total plan assets, within plan asset category	6.00%	6.00%
Pension plan | Guaranteed annuity contract | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Guaranteed annuity contract | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	30,250	28,278
Pension plan | Guaranteed annuity contract | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 18,023	$ 8,414
Percentage of total plan assets, within plan asset category	4.00%	2.00%
Pension plan | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 18,023	$ 8,414
Pension plan | Short-term investments | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Short-term investments | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 6,883	$ 6,876
Percentage of total plan assets, within plan asset category	1.00%	1.00%
Pension plan | Other | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 6,883	$ 6,876
Pension plan | Other | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0

Postretirement Benefits - Activ

Postretirement Benefits - Activity for the SERP (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Retirement Benefits [Abstract]
Premiums paid for COLI	$ 2,480	$ 2,394
Total investments:
COLI	50,985		$ 47,733
Exchange traded funds	68,862		65,585
Total investments of SERP	$ 119,847		$ 113,318

Postretirement Benefits - Pen_2

Postretirement Benefits - Pension Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
PBO	$ 689,192	$ 665,207
Qualified Plan | Funded defined benefit pension | Funded defined benefit pension
Defined Benefit Plan Disclosure [Line Items]
PBO	602,174	578,860
Nonqualified Plan | SERP
Defined Benefit Plan Disclosure [Line Items]
PBO	$ 87,018	$ 86,347

Postretirement Benefits - Compo

Postretirement Benefits - Components of Net Periodic Pension Costs and Post-Retirement Benefit Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 6,116	$ 4,982	$ 18,347	$ 14,947
Interest cost	5,653	5,964	16,951	17,892
Expected return on assets	(7,390)	(6,966)	(22,171)	(20,898)
Amortization:
Prior service cost	158	158	474	474
Actuarial (gain) loss	3,921	1,894	11,770	5,684
Net periodic benefit cost	$ 8,458	$ 6,032	$ 25,371	$ 18,099

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	106,146,809	108,813,355	106,622,704	109,582,748
Weighted average dilutive options outstanding (in shares)	906,302	2,100,378	1,082,474	2,009,262
Diluted weighted average shares outstanding (in shares)	107,053,111	110,913,733	107,705,178	111,592,010
Antidilutive shares (in shares)	4,007,482	0	2,415,182	1,359,186

Debt - Additional Information (

Debt - Additional Information (Details)	Sep. 03, 2020USD ($)	Aug. 26, 2020USD ($)	Aug. 24, 2020USD ($)extensionOption	Aug. 21, 2020USD ($)	Aug. 17, 2020USD ($)	Jul. 31, 2020USD ($)	Apr. 15, 2020USD ($)	Apr. 09, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Repayment of notes									$ 386,875,000	$ 5,000,000
Proceeds from issuance of debt									$ 700,000,000	$ 0
Write off of unamortized issue expenses		$ 634,000
Term loan due 2021
Debt Instrument [Line Items]
Repayment of notes						$ 82,500,000
Debt instrument term									5 years
Debt, face amount											$ 100,000,000
Senior notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 395,000,000
Senior notes | Senior Notes due August 15, 2030
Debt Instrument [Line Items]
Debt, face amount	50,000,000			$ 350,000,000
Proceeds from issuance of debt	$ 49,300,000			$ 345,800,000
Interest rate	2.15%
Term loan
Debt Instrument [Line Items]
Repayment of notes		$ 150,000,000			$ 150,000,000
Debt instrument term								364 days
Maximum borrowing capacity								$ 300,000,000
Proceeds from issuance of debt							$ 299,100,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 750,000,000
Potential maximum borrowing capacity			$ 1,000,000,000
Number of extension options | extensionOption			2
Extension term			1 year

Debt - Selected Information abo

Debt - Selected Information about Debt Issues (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Par Value	$ 1,690,612,000
Less current maturity of term loan, par value	0
Total long-term debt, par value	1,690,612,000
Total short-term debt, par value	280,000,000
Total debt, par value	1,970,612,000
Book Value	1,667,506,000	$ 1,358,363,000
Less current maturity of term loan, book value	0	9,375,000
Total long-term debt, book value	1,667,506,000	1,348,988,000
Total short-term debt, book value	279,758,000	298,738,000
Total debt, book value	1,947,264,000	1,647,726,000
Fair Value	1,842,164,000
Less current maturity of term loan, fair value	0
Total long-term debt, fair value	1,842,164,000	1,473,364,000
Total short-term debt, fair value	279,758,000
Total debt, fair value	2,121,922,000
Commercial Paper
Debt Instrument [Line Items]
Total short-term debt, par value	280,000,000
Total short-term debt, book value	279,758,000	289,363,000
Total short-term debt, fair value	$ 279,758,000
Notes, Due 5/15/23
Debt Instrument [Line Items]
Coupon Rate	7.875%
Par Value	$ 165,612,000
Book Value	164,892,000	164,713,000
Fair Value	$ 194,604,000
Senior Notes Due 2022
Debt Instrument [Line Items]
Coupon Rate	3.80%
Par Value	$ 150,000,000
Book Value	149,331,000	149,089,000
Fair Value	159,212,000
Senior Notes Due 2022 | Consolidation eliminations | Subsidiaries
Debt Instrument [Line Items]
Par Value	150,000,000
Book Value	$ 150,000,000
Senior Notes, Due 2028
Debt Instrument [Line Items]
Coupon Rate	4.55%
Par Value	$ 550,000,000
Book Value	544,179,000	543,735,000
Fair Value	$ 655,501,000
Senior Notes, Due 2030
Debt Instrument [Line Items]
Coupon Rate	2.15%
Par Value	$ 400,000,000
Book Value	395,091,000	0
Fair Value	$ 401,152,000
Junior Subordinated Debentures Due 2056
Debt Instrument [Line Items]
Coupon Rate	6.125%
Par Value	$ 300,000,000
Book Value	290,635,000	290,584,000
Fair Value	$ 308,760,000
Junior Subordinated Debentures Due 2057
Debt Instrument [Line Items]
Coupon Rate	5.275%
Par Value	$ 125,000,000
Book Value	123,378,000	123,367,000
Fair Value	122,935,000
Term loan
Debt Instrument [Line Items]
Par Value	0
Less current maturity of term loan, par value	0
Book Value	0	86,875,000
Less current maturity of term loan, book value	0	$ 9,375,000
Fair Value	0
Less current maturity of term loan, fair value	$ 0

Business Segments - Segment Pre

Business Segments - Segment Premium Income by Distribution Channel and Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)numberOfSegments	Sep. 30, 2019USD ($)
Segment Reporting [Abstract]
Number of segments | numberOfSegments			4
Segment Reporting Information [Line Items]
Amount	$ 961,817	$ 899,993	$ 2,845,354	$ 2,688,450
% of Total	100.00%	100.00%	100.00%	100.00%
Life
Segment Reporting Information [Line Items]
Amount	$ 674,021	$ 630,824	$ 1,994,473	$ 1,886,314
% of Total	100.00%	100.00%	100.00%	100.00%
Health
Segment Reporting Information [Line Items]
Amount	$ 287,795	$ 269,166	$ 850,877	$ 802,132
% of Total	100.00%	100.00%	100.00%	100.00%
Annuity
Segment Reporting Information [Line Items]
Amount	$ 1	$ 3	$ 4	$ 4
% of Total	100.00%	100.00%	100.00%	100.00%
American Income
Segment Reporting Information [Line Items]
Amount	$ 345,946	$ 318,461	$ 1,008,754	$ 937,111
% of Total	36.00%	35.00%	36.00%	35.00%
American Income | Life
Segment Reporting Information [Line Items]
Amount	$ 318,917	$ 293,149	$ 930,444	$ 863,250
% of Total	47.00%	47.00%	47.00%	46.00%
American Income | Health
Segment Reporting Information [Line Items]
Amount	$ 27,029	$ 25,312	$ 78,310	$ 73,861
% of Total	9.00%	9.00%	9.00%	9.00%
American Income | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Direct to Consumer
Segment Reporting Information [Line Items]
Amount	$ 246,751	$ 230,828	$ 740,851	$ 705,174
% of Total	26.00%	26.00%	26.00%	26.00%
Direct to Consumer | Life
Segment Reporting Information [Line Items]
Amount	$ 227,734	$ 211,693	$ 682,978	$ 646,530
% of Total	34.00%	34.00%	34.00%	34.00%
Direct to Consumer | Health
Segment Reporting Information [Line Items]
Amount	$ 19,017	$ 19,135	$ 57,873	$ 58,644
% of Total	7.00%	7.00%	7.00%	7.00%
Direct to Consumer | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Liberty National
Segment Reporting Information [Line Items]
Amount	$ 121,014	$ 119,251	$ 362,239	$ 356,894
% of Total	13.00%	13.00%	13.00%	13.00%
Liberty National | Life
Segment Reporting Information [Line Items]
Amount	$ 73,815	$ 71,812	$ 220,009	$ 214,007
% of Total	11.00%	11.00%	11.00%	11.00%
Liberty National | Health
Segment Reporting Information [Line Items]
Amount	$ 47,199	$ 47,439	$ 142,230	$ 142,887
% of Total	16.00%	18.00%	17.00%	18.00%
Liberty National | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
United American
Segment Reporting Information [Line Items]
Amount	$ 116,728	$ 105,717	$ 344,646	$ 316,275
% of Total	12.00%	12.00%	12.00%	12.00%
United American | Life
Segment Reporting Information [Line Items]
Amount	$ 2,402	$ 2,602	$ 7,373	$ 8,000
% of Total	0.00%	0.00%	0.00%	1.00%
United American | Health
Segment Reporting Information [Line Items]
Amount	$ 114,325	$ 103,112	$ 337,269	$ 308,271
% of Total	40.00%	38.00%	39.00%	39.00%
United American | Annuity
Segment Reporting Information [Line Items]
Amount	$ 1	$ 3	$ 4	$ 4
% of Total	100.00%	100.00%	100.00%	100.00%
Family Heritage
Segment Reporting Information [Line Items]
Amount	$ 81,306	$ 75,139	$ 238,339	$ 221,298
% of Total	8.00%	8.00%	8.00%	8.00%
Family Heritage | Life
Segment Reporting Information [Line Items]
Amount	$ 1,081	$ 971	$ 3,144	$ 2,829
% of Total	0.00%	0.00%	0.00%	0.00%
Family Heritage | Health
Segment Reporting Information [Line Items]
Amount	$ 80,225	$ 74,168	$ 235,195	$ 218,469
% of Total	28.00%	28.00%	28.00%	27.00%
Family Heritage | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Other
Segment Reporting Information [Line Items]
Amount	$ 50,072	$ 50,597	$ 150,525	$ 151,698
% of Total	5.00%	6.00%	5.00%	6.00%
Other | Life
Segment Reporting Information [Line Items]
Amount	$ 50,072	$ 50,597	$ 150,525	$ 151,698
% of Total	8.00%	8.00%	8.00%	8.00%
Other | Health
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Other | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%

Business Segments - Reconciliat

Business Segments - Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Premium	$ 961,817	$ 899,993	$ 2,845,354	$ 2,688,450
Net investment income	231,432	228,905	691,991	683,003
Other income	292	438	1,021	1,077
Total revenue	1,193,541	1,129,336	3,538,366	3,372,530
Expenses:
Policy benefits	650,976	585,692	1,909,761	1,762,811
Required interest on reserves	0	0	0	0
Required interest on DAC	0	0	0	0
Amortization of acquisition costs	140,843	138,449	430,840	412,436
Commissions, premium taxes, and non-deferred acquisition costs	74,614	74,139	229,691	221,302
Insurance administrative expense	63,718	60,570	192,179	185,077
Parent expense	3,012	2,472	7,859	7,987
Stock-based compensation expense	8,667	11,533	26,655	33,348
Interest expense	21,674	21,094	65,295	63,804
Total benefits and expenses	963,504	893,949	2,862,280	2,686,765
Subtotal	230,037	235,387	676,086	685,765
Non-operating items	1,033	0	4,308	5,900
Measure of segment profitability (pretax)	231,070	235,387	680,394	691,665
Realized gains (losses)	2,135	11,943	(28,752)	18,426
Administrative settlements				(400)
Legal proceedings			(3,275)	(5,500)
Income before income taxes	231,538	247,330	646,700	704,191
Premium Receivable, Credit Loss Expense (Reversal)	(634)		(634)
Non-operating fees	(1,033)		(1,033)
Operating Segments | Life
Revenue:
Premium	674,021	630,824	1,994,473	1,886,314
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	674,021	630,824	1,994,473	1,886,314
Expenses:
Policy benefits	459,231	406,963	1,340,746	1,227,616
Required interest on reserves	(175,794)	(167,719)	(520,207)	(496,894)
Required interest on DAC	52,709	50,948	156,934	151,270
Amortization of acquisition costs	114,316	108,798	346,426	327,407
Commissions, premium taxes, and non-deferred acquisition costs	52,856	50,375	159,369	150,567
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	503,318	449,365	1,483,268	1,359,966
Subtotal	170,703	181,459	511,205	526,348
Measure of segment profitability (pretax)	170,703	181,459	511,205	526,348
Operating Segments | Health
Revenue:
Premium	287,795	269,166	850,877	802,132
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	287,795	269,166	850,877	802,132
Expenses:
Policy benefits	184,237	170,875	546,444	511,403
Required interest on reserves	(23,770)	(21,955)	(69,131)	(65,131)
Required interest on DAC	6,689	6,395	19,790	19,019
Amortization of acquisition costs	26,026	29,151	82,905	83,508
Commissions, premium taxes, and non-deferred acquisition costs	21,753	23,759	70,304	70,719
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	214,935	208,225	650,312	619,518
Subtotal	72,860	60,941	200,565	182,614
Measure of segment profitability (pretax)	72,860	60,941	200,565	182,614
Operating Segments | Annuity
Revenue:
Premium	1	3	4	4
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	1	3	4	4
Expenses:
Policy benefits	7,508	7,854	22,571	23,792
Required interest on reserves	(10,347)	(10,832)	(31,135)	(32,840)
Required interest on DAC	81	125	253	383
Amortization of acquisition costs	501	500	1,509	1,521
Commissions, premium taxes, and non-deferred acquisition costs	5	5	18	16
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	(2,252)	(2,348)	(6,784)	(7,128)
Subtotal	2,253	2,351	6,788	7,132
Measure of segment profitability (pretax)	2,253	2,351	6,788	7,132
Operating Segments | Investment
Revenue:
Premium	0	0	0	0
Net investment income	231,432	228,905	691,991	683,003
Other income	0	0	0	0
Total revenue	231,432	228,905	691,991	683,003
Expenses:
Policy benefits	0	0	0	0
Required interest on reserves	209,911	200,506	620,473	594,865
Required interest on DAC	(59,479)	(57,468)	(176,977)	(170,672)
Amortization of acquisition costs	0	0	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0	0	0
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	21,674	21,094	65,295	63,804
Total benefits and expenses	172,106	164,132	508,791	487,997
Subtotal	59,326	64,773	183,200	195,006
Measure of segment profitability (pretax)	59,326	64,773	183,200	195,006
Corporate & Other
Revenue:
Premium	0	0	0	0
Net investment income	0	0	0	0
Other income	292	438	1,021	1,077
Total revenue	292	438	1,021	1,077
Expenses:
Policy benefits	0	0	0	0
Required interest on reserves	0	0	0	0
Required interest on DAC	0	0	0	0
Amortization of acquisition costs	0	0	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0	0	0
Insurance administrative expense	63,008	60,570	188,194	179,177
Parent expense	2,689	2,472	7,536	7,987
Stock-based compensation expense	8,667	11,533	26,655	33,348
Interest expense	0	0	0	0
Total benefits and expenses	74,364	74,575	222,385	220,512
Subtotal	(74,072)	(74,137)	(221,364)	(219,435)
Measure of segment profitability (pretax)	(74,072)	(74,137)	(221,364)	(219,435)
Adjustments
Revenue:
Other income	0	0		0
Total revenue	0	0	0	0
Expenses:
Policy benefits	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0		0
Insurance administrative expense	710	0	3,985	5,900
Parent expense	323	0	323	0
Total benefits and expenses	1,033	0	4,308	5,900
Subtotal	(1,033)	0	(4,308)	(5,900)
Non-operating items	1,033	0	4,308	$ 5,900
Measure of segment profitability (pretax)	$ 0	$ 0	$ 0