Globe Life (GL) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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
Entity Common Stock, Shares Outstanding		103,053,356
Entity Central Index Key	0000320335
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2021—$17,411,959; 2020—$17,197,145, allowance for credit losses: 2021— $0; 2020— $3,346)	$ 20,154,910	$ 21,213,509
Policy loans	584,297	584,379
Other long-term investments (includes: 2021—$459,707; 2020—$385,038 under the fair value option)	619,741	546,981
Short-term investments	93,348	107,782
Total investments	21,452,296	22,452,651
Cash	81,504	94,847
Accrued investment income	268,384	248,991
Other receivables	477,596	474,180
Deferred acquisition costs	4,662,509	4,595,444
Goodwill	441,591	441,591
Other assets	729,016	739,027
Total assets	28,112,896	29,046,731
Liabilities:
Future policy benefits	15,433,249	15,243,536
Unearned and advance premium	68,817	61,728
Policy claims and other benefits payable	398,190	399,507
Other policyholders' funds	98,251	97,968
Total policy liabilities	15,998,507	15,802,739
Current and deferred income taxes	1,586,288	1,833,723
Short-term debt	274,919	254,918
Long-term debt (estimated fair value: 2021—$1,799,129; 2020—$1,871,754)	1,668,322	1,667,886
Other liabilities	752,523	716,373
Total liabilities	20,280,559	20,275,639
Commitments and Contingencies (Note 5)
Shareholders' equity:
Preferred stock, par value $1 per share—5,000,000 shares authorized; outstanding: 0 in 2021 and 2020	0	0
Common stock, par value $1 per share—320,000,000 shares authorized; outstanding: (2021—113,218,183 issued; 2020—113,218,183 issued)	113,218	113,218
Additional paid-in-capital	516,013	527,435
Accumulated other comprehensive income (loss)	2,024,515	3,029,244
Retained earnings	6,020,552	5,874,109
Treasury stock, at cost: (2021—10,025,038 shares; 2020—9,420,699 shares)	(841,961)	(772,914)
Total shareholders' equity	7,832,337	8,771,092
Total liabilities and shareholders' equity	$ 28,112,896	$ 29,046,731

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fixed maturities, available for sale, amortized cost	$ 17,411,959	$ 17,197,145
Fixed maturities, available for sale, allowance for credit losses	0	(3,346)
Other long-term investments under fair value option	619,741	546,981
Total long-term debt, fair value	$ 1,799,129	$ 1,871,754
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)	113,218,183	113,218,183
Common stock, shares outstanding (in shares)	113,218,183	113,218,183
Common stock, shares held in treasury (in shares)	10,025,038	9,420,699
Partnership Interest - Fair Value Option | Investment in limited partnerships
Other long-term investments under fair value option	$ 459,707	$ 385,038

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Revenue	$ 1,002,293	$ 929,835
Net investment income	235,820	228,991
Realized gains (losses)	28,152	(26,097)
Other income	295	325
Total revenue	1,266,560	1,133,054
Benefits and expenses:
Life policyholder benefits	517,631	421,670
Health policyholder benefits	187,829	178,711
Other policyholder benefits	7,259	7,588
Total policyholder benefits	712,719	607,969
Amortization of deferred acquisition costs	152,993	143,837
Commissions, premium taxes, and non-deferred acquisition costs	79,666	78,937
Other operating expense	81,210	78,582
Interest expense	21,178	20,808
Total benefits and expenses	1,047,766	930,133
Income before income taxes	218,794	202,921
Income tax benefit (expense)	(40,277)	(37,381)
Net income	$ 178,517	$ 165,540
Basic net income per common share (in dollars per share)	$ 1.73	$ 1.54
Diluted net income per common share (in dollars per share)	$ 1.70	$ 1.52
Life premium
Revenue:
Revenue	$ 708,119	$ 649,630
Health premium
Revenue:
Revenue	294,173	280,205
Other premium
Revenue:
Revenue	$ 1	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 178,517	$ 165,540
Unrealized gains (losses) on fixed maturities:
Unrealized gains (losses)	(1,276,759)	(962,641)
Less applicable tax (expense) benefit	268,119	202,150
Unrealized gains (losses) on investments, net of tax	(1,008,640)	(760,491)
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	359	383
Less applicable tax (expense) benefit	(75)	(80)
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	284	303
Foreign exchange translation:
Foreign exchange translation adjustments, other than securities	(610)	(27,442)
Less applicable tax (expense) benefit	128	5,763
Foreign exchange translation adjustments, other than securities, net of tax	(482)	(21,679)
Pension:
Amortization of pension costs	5,200	4,157
Less applicable tax (expense) benefit	(1,091)	(873)
Pension adjustments, net of tax	4,109	3,284
Other comprehensive income (loss)	(1,004,729)	(778,583)
Comprehensive income (loss)	(826,212)	(613,043)
Securities
Unrealized gains (losses) on fixed maturities:
Unrealized holding gains (losses) arising during period	(1,262,059)	(977,936)
Other reclassification adjustments included in net income	(17,142)	28,412
Foreign exchange adjustment on fixed maturities recorded at fair value	2,442	(2,397)
Unrealized gains (losses)	(1,276,759)	(951,921)
Other investments
Unrealized gains (losses) on fixed maturities:
Unrealized gains (losses)	$ 0	$ (10,720)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment	[1]	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	[1]	Retained EarningsCumulative Effect, Period Of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period Of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2019	$ 7,294,307	$ (454)		$ 7,293,853	$ 0	$ 0	$ 117,218	$ 117,218	$ 531,554	$ 531,554	$ 1,844,830	$ 1,844,830	$ 5,551,329	$ (454)		$ 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)
Beginning balance at Dec. 31, 2020	8,771,092				0		113,218		527,435		3,029,244		5,874,109				(772,914)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	(826,212)										(1,004,729)		178,517
Common dividends declared	(20,435)												(20,435)
Acquisition of treasury stock	(132,720)																(132,720)
Stock-based compensation	7,888								(11,422)				1,168				18,142
Exercise of stock options	32,724												(12,807)				45,531
Ending balance at Mar. 31, 2021	$ 7,832,337				$ 0		$ 113,218		$ 516,013		$ 2,024,515		$ 6,020,552				$ (841,961)
[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.

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common dividends declared, per share (in dollars per share)	$ 0.1975	$ 0.1875

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Cash Flows [Abstract]
Cash provided from (used for) operating activities	$ 371,830	$ 343,554
Cash provided from (used for) investing activities:
Fixed maturities available for sale—sold	61,858	50,360
Fixed maturities available for sale—matured or other redemptions	36,683	167,387
Other long-term investments	3,733	231
Total investments sold or matured	102,274	217,978
Acquisition of investments:
Fixed maturities—available for sale	(295,869)	(211,754)
Other long-term investments	(65,997)	(49,896)
Total investments acquired	(361,866)	(261,650)
Net (increase) decrease in policy loans	82	(3,641)
Net (increase) decrease in short-term investments	14,434	(234,316)
Additions to properties	(15,529)	(9,316)
Other investing activities	0	13
Investments in low-income housing interests	(9,080)	(20,743)
Cash provided from (used for) investing activities	(269,685)	(311,675)
Cash provided from (used for) financing activities:
Issuance of common stock	32,724	16,808
Cash dividends paid to shareholders	(19,511)	(18,588)
Repayment of debt	0	(1,875)
Net borrowing (repayment) of commercial paper	20,001	158,764
Acquisition of treasury stock	(132,720)	(166,729)
Net receipts (payments) from deposit-type products	(13,811)	(19,651)
Cash provided from (used for) financing activities	(113,317)	(31,271)
Effect of foreign exchange rate changes on cash	(2,171)	13,829
Net increase (decrease) in cash	(13,343)	14,437
Cash at beginning of year	94,847	75,933
Cash at end of period	$ 81,504	$ 90,370

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2021 and 2020. 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 25, 2021.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2021
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. 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 became effective on January 1, 2021. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09/2020-11 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019 and 2020. 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. As a result of the issuance of ASU 2020-11 in November 2020, the effective date for this standard was changed to 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. As of the balance sheet date, the Company is continuing to upgrade its valuation systems as part of its implementation plan. In addition, significant progress has been made allowing the Company to execute parallel valuation runs on major blocks of business and is updating its accounting policies. Due to the overall nature of the standard, the impact on the consolidated financial statements is expected to be significant. At this time, the Company does not have an estimate of the impact. The Company does not expect to early adopt this ASU and has selected a modified retrospective transition method.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2021
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 month periods ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Available Deferred Foreign Pension Total Balance at January 1, 2021 $ 3,175,572 $ (4,704) $ 23,302 $ (164,926) $ 3,029,244 Other comprehensive income (loss) before reclassifications, net of tax (995,098) 284 (482) — (995,296) Reclassifications, net of tax (13,542) — — 4,109 (9,433) Other comprehensive income (loss) (1,008,640) 284 (482) 4,109 (1,004,729) Balance at March 31, 2021 $ 2,166,932 $ (4,420) $ 22,820 $ (160,817) $ 2,024,515 Three Months Ended March 31, 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 (782,936) 303 (21,679) — (804,312) Reclassifications, net of tax 22,445 — — 3,284 25,729 Other comprehensive income (loss) (760,491) 303 (21,679) 3,284 (778,583) Balance at March 31, 2020 $ 1,222,159 $ (5,613) $ (9,621) $ (140,678) $ 1,066,247 Reclassification adjustments : Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2021 and 2020. Three Months Ended March 31, Affected line items in the Statement of Operations Component Line Item 2021 2020 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ (18,790) $ 26,920 Realized (gains) losses Amortization of (discount) premium 1,648 1,492 Net investment income Total before tax (17,142) 28,412 Tax 3,600 (5,967) Income taxes Total after-tax (13,542) 22,445 Pension adjustments: Amortization of prior service cost 158 158 Other operating expense Amortization of actuarial (gain) loss 5,042 3,999 Other operating expense Total before tax 5,200 4,157 Tax (1,091) (873) Income taxes Total after-tax 4,109 3,284 Total reclassification (after-tax) $ (9,433) $ 25,729

Investments

Investments	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, 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. At March 31, 2021 Amortized 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 $ 381,473 $ — $ 55,367 $ (208) $ 436,632 2 States, municipalities, and political subdivisions 1,901,330 — 197,682 (7,653) 2,091,359 11 Foreign governments 56,664 — 1,944 (4,407) 54,201 — Corporates, by sector: Financial 4,458,076 — 719,494 (27,666) 5,149,904 26 Utilities 1,976,871 — 425,135 (2,301) 2,399,705 12 Energy 1,637,352 — 257,980 (9,816) 1,885,516 9 Other corporate sectors 6,828,995 — 1,136,803 (24,753) 7,941,045 39 Total corporates 14,901,294 — 2,539,412 (64,536) 17,376,170 86 Collateralized debt obligations 36,810 — 24,491 — 61,301 — Other asset-backed securities 134,388 — 4,482 (3,623) 135,247 1 Total fixed maturities $ 17,411,959 $ — $ 2,823,378 $ (80,427) $ 20,154,910 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2020 Amortized 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 $ 380,602 $ — $ 87,272 $ (43) $ 467,831 2 States, municipalities, and political subdivisions 1,880,607 — 251,291 (315) 2,131,583 10 Foreign governments 52,913 — 2,635 (898) 54,650 — Corporates, by sector: Financial 4,404,203 — 1,016,813 (24,221) 5,396,795 26 Utilities 1,975,460 — 608,595 (108) 2,583,947 12 Energy 1,623,970 (3,346) 346,197 (3,083) 1,963,738 9 Other corporate sectors 6,687,644 — 1,727,366 (6,218) 8,408,792 40 Total corporates 14,691,277 (3,346) 3,698,971 (33,630) 18,353,272 87 Collateralized debt obligations 57,007 — 23,460 (8,869) 71,598 — Other asset-backed securities 134,739 — 3,614 (3,778) 134,575 1 Total fixed maturities $ 17,197,145 $ (3,346) $ 4,067,243 $ (47,533) $ 21,213,509 100 (1) Amount reported in the balance sheet. (2) At fair value. A schedule of fixed maturities available for sale by contractual maturity date at March 31, 2021 is shown below on an amortized cost basis, net of allowance for credit losses and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At March 31, 2021 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 105,545 $ 108,371 Due after one year through five years 772,951 855,320 Due after five years through ten years 1,886,155 2,215,335 Due after ten years through twenty years 6,391,788 7,768,248 Due after twenty years 8,084,093 9,010,840 Mortgage-backed and asset-backed securities 171,427 196,796 $ 17,411,959 $ 20,154,910 Analysis of Investment Operations: "Net investment income" for the three month periods ended March 31, 2021 and 2020 is summarized as follows: Three Months Ended 2021 2020 % Change Fixed maturities available for sale $ 221,719 $ 217,127 2 Policy loans 11,268 11,118 1 Other long-term investments (1) 8,162 4,623 77 Short-term investments 4 307 (99) 241,153 233,175 3 Less investment expense (5,333) (4,184) 27 Net investment income $ 235,820 $ 228,991 3 (1) For the three months ended March 31, 2021 and 2020, the investment funds, accounted for under the fair value option method, recorded $5.8 million and $2.0 million of distributions, respectively in net investment income. Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended 2021 2020 Fixed maturities available for sale: Proceeds from sales (1) $ 61,858 $ 50,360 Gross realized gains 1,134 2,642 Gross realized losses (12,019) — (1) There were no unsettled sales in the periods ended March 31, 2021 and 2020. An analysis of "Realized gains (losses)" is as follows: Three Months Ended 2021 2020 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ 15,444 $ 4,934 Provision for credit losses 3,346 (31,854) Fair value option—change in fair value 9,885 583 Other investments (523) 240 Realized gains (losses) from investments 28,152 (26,097) Applicable tax (5,912) 5,480 Realized gains (losses), net of tax $ 22,240 $ (20,617) (1) During the three months ended March 31, 2021 and 2020, the Company recorded $85.8 million and $5.9 million of exchanges of fixed maturities (noncash transactions) that resulted in $25.2 million and $0, respectively in realized gains (losses). Fair Value Measurements: The following tables represent the fair value of fixed maturities measured on a recurring basis at March 31, 2021 and December 31, 2020: Fair Value Measurement at March 31, 2021 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 436,632 $ — $ 436,632 States, municipalities, and political subdivisions — 2,091,359 — 2,091,359 Foreign governments — 54,201 — 54,201 Corporates, by sector: Financial — 4,976,857 173,047 5,149,904 Utilities — 2,226,600 173,105 2,399,705 Energy — 1,848,502 37,014 1,885,516 Other corporate sectors — 7,635,867 305,178 7,941,045 Total corporates — 16,687,826 688,344 17,376,170 Collateralized debt obligations — — 61,301 61,301 Other asset-backed securities — 123,638 11,609 135,247 Total fixed maturities $ — $ 19,393,656 $ 761,254 $ 20,154,910 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 467,831 $ — $ 467,831 States, municipalities, and political subdivisions — 2,131,583 — 2,131,583 Foreign governments — 54,650 — 54,650 Corporates, by sector: Financial — 5,222,066 174,729 5,396,795 Utilities — 2,400,602 183,345 2,583,947 Energy — 1,925,549 38,189 1,963,738 Other corporate sectors — 8,090,550 318,242 8,408,792 Total corporates — 17,638,767 714,505 18,353,272 Collateralized debt obligations — — 71,598 71,598 Other asset-backed securities — 121,705 12,870 134,575 Total fixed maturities $ — $ 20,414,536 $ 798,973 $ 21,213,509 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, 2021 $ 12,870 $ 71,598 $ 714,505 $ 798,973 Included in realized gains / losses — (6,787) — (6,787) Included in other comprehensive income (1,261) 9,900 (24,135) (15,496) Acquisitions — — — — Sales — (13,213) — (13,213) Amortization — 1,140 2 1,142 Other (1) — (1,337) (2,028) (3,365) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at March 31, 2021 $ 11,609 $ 61,301 $ 688,344 $ 761,254 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, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (276) (5,475) (34,072) (39,823) Acquisitions — — — — Sales — — — — Amortization — 1,139 2 1,141 Other (1) (134) (1,395) (20,876) (22,405) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at March 31, 2020 $ 12,767 $ 68,373 $ 618,395 $ 699,535 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 March 31, 2021 $ (1,261) $ 9,900 $ (24,135) $ (15,496) At March 31, 2020 (276) (5,475) (34,072) (39,823) 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 March 31, 2021 271 23 294 As of December 31, 2020 54 24 78 Globe Life's entire fixed maturity portfolio consisted of 1,917 issues by 781 different issuers at March 31, 2021 and 1,900 issues by 777 different issuers at December 31, 2020. The weighted-average quality rating of all unrealized loss positions at amortized cost was A- and BBB- as of March 31, 2021 and December 31, 2020, respectively. 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 March 31, 2021. 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. The Company considers many factors when determining whether an allowance for a credit loss should be recorded. 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. Analysis of Gross Unrealized Investment Losses At March 31, 2021 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 $ 3,800 $ (208) $ 3 $ — $ 3,803 $ (208) States, municipalities and political subdivisions 211,681 (7,612) 450 (41) 212,131 (7,653) Foreign governments 32,807 (4,407) — — 32,807 (4,407) Corporates, by sector: Financial 296,250 (12,924) 4,851 (386) 301,101 (13,310) Utilities 28,739 (2,004) — — 28,739 (2,004) Energy 159,994 (6,492) — — 159,994 (6,492) Other corporate sectors 315,384 (18,826) — — 315,384 (18,826) Total corporates 800,367 (40,246) 4,851 (386) 805,218 (40,632) Collateralized debt obligations — — — — — — Other asset-backed securities 11,609 (1,324) — — 11,609 (1,324) Total investment grade securities 1,060,264 (53,797) 5,304 (427) 1,065,568 (54,224) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 25,136 (125) 104,183 (14,231) 129,319 (14,356) Utilities 15,381 (297) — — 15,381 (297) Energy 4,994 (2) 54,866 (3,322) 59,860 (3,324) Other corporate sectors 20,370 (3,789) 19,287 (2,138) 39,657 (5,927) Total corporates 65,881 (4,213) 178,336 (19,691) 244,217 (23,904) Collateralized debt obligations — — — — — — Other asset-backed securities — — 11,576 (2,299) 11,576 (2,299) Total below investment grade securities 65,881 (4,213) 189,912 (21,990) 255,793 (26,203) Total fixed maturities $ 1,126,145 $ (58,010) $ 195,216 $ (22,417) $ 1,321,361 $ (80,427) The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2020. Analysis of Gross Unrealized Investment Losses At December 31, 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 $ 2,006 $ (43) $ — $ — $ 2,006 $ (43) States, municipalities and political subdivisions 32,910 (315) — — 32,910 (315) Foreign governments 19,532 (898) — — 19,532 (898) Corporates, by sector: Financial 117,762 (2,564) 6,333 (2,168) 124,095 (4,732) Utilities 2,726 (108) — — 2,726 (108) Energy 1,692 (8) 14,871 (106) 16,563 (114) Other corporate sectors 21,882 (720) — — 21,882 (720) Total corporates 144,062 (3,400) 21,204 (2,274) 165,266 (5,674) Collateralized debt obligations — — — — — — Other asset-backed securities 28,864 (1,051) 5 — 28,869 (1,051) Total investment grade securities 227,374 (5,707) 21,209 (2,274) 248,583 (7,981) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 6,822 (36) 115,093 (19,453) 121,915 (19,489) Utilities — — — — — — Energy 18,432 (757) 38,720 (2,212) 57,152 (2,969) Other corporate sectors 25,711 (3,588) 19,516 (1,910) 45,227 (5,498) Total corporates 50,965 (4,381) 173,329 (23,575) 224,294 (27,956) Collateralized debt obligations — — 11,131 (8,869) 11,131 (8,869) Other asset-backed securities — — 11,223 (2,727) 11,223 (2,727) Total below investment grade securities 50,965 (4,381) 195,683 (35,171) 246,648 (39,552) Total fixed maturities $ 278,339 $ (10,088) $ 216,892 $ (37,445) $ 495,231 $ (47,533) Fixed Maturities, Allowance for Credit Losses : A summary of the activity in the allowance for credit losses is as follows. Three Months Ended 2021 2020 Allowance for credit losses beginning balance $ 3,346 $ — Additions to allowance for which credit losses were not previously recorded — 31,854 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 (3,346) — Allowance for credit losses ending balance $ — $ 31,854 As of March 31, 2021 and December 31, 2020, 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: March 31, December 31, 2020 Investment funds $ 459,707 $ 385,038 Commercial mortgage loan participations 158,693 160,602 Other 1,341 1,341 Total $ 619,741 $ 546,981 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 committed to one new limited partnership. The Company had $61 million of capital called during the quarter from existing investment funds, reducing our unfunded commitments. Our unfunded commitments were $377 million as of March 31, 2021. The following table presents additional information about the Company's investment funds as of March 31, 2021 and December 31, 2020 at fair value: Fair Value Unfunded Commitments Investment Category March 31, December 31, 2020 March 31, Redemption Term/Notice Commercial mortgage loans $ 277,495 $ 227,050 $ 237,969 Portion non-redeemable and fully redeemable after 6 month period, subject to fund liquidity/discretion of General Partner. Expected life is 7 years for non-redeemable fund. Opportunistic credit 166,900 157,461 — Initial 2 year lock on each new investment/semi-annual withdrawals thereafter/full redemption within 36 month period. Other 15,312 527 139,143 Not redeemable Total investment funds $ 459,707 $ 385,038 $ 377,112 Commercial Mortgage Loan Participations (commercial mortgage loans): Summaries of commercial mortgage loans by property type and geographical location at March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 December 31, 2020 Carrying Value % of Total Carrying Value % of Total Property type: Mixed use $ 49,614 31 $ 49,002 31 Office 36,138 23 36,153 22 Hospitality 22,841 15 22,605 14 Retail 19,562 12 19,319 12 Industrial 17,900 11 17,900 11 Multi-family 14,785 9 19,128 12 Total recorded investment 160,840 101 164,107 102 Less allowance for credit losses (2,147) (1) (3,505) (2) Carrying value, net of allowance for credit losses $ 158,693 100 $ 160,602 100 March 31, 2021 December 31, 2020 Carrying Value % of Total Carrying Value % of Total Geographic location: California $ 61,880 39 $ 61,610 38 Virginia 27,019 17 27,019 17 New York 16,573 10 16,602 10 Pennsylvania 11,589 7 11,314 7 Indiana 9,717 6 9,717 6 Florida 8,021 5 12,420 8 Other 26,041 17 25,425 16 Total recorded investment 160,840 101 164,107 102 Less allowance for credit losses (2,147) (1) (3,505) (2) Carrying value, net of allowance for credit losses $ 158,693 100 $ 160,602 100 The following tables are reflective of Management's internal risk ratings of the loan portfolio. Loans are rated low, moderate, and high. The risk categories consider many different factors such as quality of asset, borrower status, as well as macroeconomic factors including COVID-19. These loans, originated in 2017 to 2020, are transitional or under construction and may not yet be income producing. Certain ratios, such as loan to value and debt service coverage ratios, may not be evaluated as the value of the underlying transitional property significantly fluctuates based on completion of the project. Net Book Value of Commercial Mortgage Loans Receivable by Year of Origination As of March 31, 2021 Risk Rating: Number of Loans 2021 2020 2019 2018 2017 Total Low 17 $ — $ 20,227 $ 15,332 $ 33,152 $ 61,881 $ 130,592 Moderate 4 — — 10,686 8,021 — 18,707 High 2 — — 4,561 6,980 — 11,541 Total commercial mortgage loans 23 $ — $ 20,227 $ 30,579 $ 48,153 $ 61,881 160,840 Less allowance for credit losses on the investment pool (2,147) Less allowance for credit losses on individual loans — Carrying value, net of valuation allowance $ 158,693 Net Book Value of Commercial Mortgage Loans Receivable by Year of Origination As of December 31, 2020 Risk Rating: Number of Loans 2020 2019 2018 2017 Total Low 17 $ 20,176 $ 14,757 $ 33,132 $ 61,460 $ 129,525 Moderate 4 — 10,640 7,796 — 18,436 High 3 — 4,554 11,592 — 16,146 Total commercial mortgage loans 24 $ 20,176 $ 29,951 $ 52,520 $ 61,460 164,107 Less allowance for credit losses on the investment pool (2,503) Less allowance for credit losses on individual loans (1,002) Carrying value, net of valuation allowance $ 160,602 As of March 31, 2021, the Company evaluated the commercial mortgage loan portfolio on a pool basis to determine the allowance for credit losses. At the end of the period, the Company had 23 loans in the portfolio. For the three months ended March 31, 2021, the allowance for credit losses decreased by $1.4 million to $2.1 million. The provision for credit losses is included in "Realized gains (losses)". Three Months Ended 2021 2020 Allowance for credit losses beginning balance $ 3,505 $ — Cumulative effect of adoption ASU 2016-13 — 335 Provision (reversal) for credit losses (1,358) — Loans charge-off — — Allowance for credit losses ending balance $ 2,147 $ 335

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5—Commitments and Contingencies Guarantees : The Parent Company has guaranteed letters of credit in connection with its credit facility with a group of banks. The letters of credit were issued by TMK Re, Ltd., a wholly-owned subsidiary, to secure TMK Re, Ltd.’s obligation for claims on certain policies reinsured by TMK Re, Ltd. that were sold by other Globe Life insurance subsidiaries. These letters of credit facilitate TMK Re, Ltd.’s ability to reinsure the business of Globe Life's insurance carriers. The agreement expires in 2023. The maximum amount of letters of credit available is $250 million. The Parent Company would be liable to the extent that TMK Re, Ltd. does not pay the reinsured party. As of March 31, 2021 and December 31, 2020, the outstanding balance was $135 million. Litigation : 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, sued 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 alleged that such individuals were employees and asserted claims under the California Labor Code, California Business and Professions Code, and California Private Attorney General Act. The complaint sought 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 alleged that plaintiff, as an American Income insurance agent trainee in California, was an employee who should have been compensated accordingly. The plaintiff sought 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 was alleged to begin four years prior to the complaint’s filing. The complaint sought 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. 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, sued 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 alleged that putative class members were employees and asserted claims under the California Labor Code, California Business and Professions Code, and California Private Attorney General Act. The complaint sought 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 21, 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. On January 7, 2021, plaintiff’s motion for final settlement approval was granted and a final judgment was entered on the same day, thereby resolving the Joh Action. The Hamilton Action was subsequently dismissed with prejudice on March 17, 2021. On April 1, 2021, the Golz Action was dismissed with prejudice as to plaintiff’s individual claims and without prejudice as to the claims of putative class members. 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). On December 18, 2020, the plaintiffs voluntarily dismissed Mr. Turner’s claims and all claims against defendant National Income. Following the dismissal, the complaint alleges that insurance agent trainees should have been classified as employees, and after contracting should have been classified as employees instead of independent contractors. Plaintiff Bell is a former California trainee and plaintiff Rai is a former California agent. They 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 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. American Income responded to the complaint with a motion to compel the named plaintiffs to arbitrate their individual claims and other procedural challenges. On April 6, 2021, the court granted American Income’s motion to compel arbitration as to plaintiffs Mobley and Rai, and denied the motion without prejudice as to plaintiff Bell. American Income anticipates renewing its motion to compel arbitration as to Bell. On January 4, 2021, Mr. Turner refiled his class and Fair Labor Standards Act (FLSA) claims in the United States District Court for the Northern District of New York. (John Turner v. National Income Life Insurance Company, Case No. 5:21-cv-0003). Plaintiff Turner is a former New York National Income agent who asserts a claim under New York law on behalf of a putative New York class of trainees and sales agents 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. In addition, Mr. Turner asserts a claim under the FLSA on behalf of trainees and sales agents for the three years prior to February 13, 2020 through case conclusion. The FLSA claim alleges failure to pay for all hours worked and seeks expense reimbursement. The lawsuit also requests declaratory relief and liquidated damages. National Income anticipates filing a motion to compel arbitration of Mr. Turner’s individual claims. 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	3 Months Ended
	Mar. 31, 2021
Insurance [Abstract]
Liability for Unpaid Claims	Note 6—Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: March 31, December 31, Balance at beginning of period $ 162,261 $ 163,808 Incurred related to: Current year 163,839 584,936 Prior year (9,861) (14,829) Total incurred 153,978 570,107 Paid related to: Current year 66,431 442,127 Prior year 86,088 129,527 Total paid 152,519 571,654 Balance at end of period $ 163,720 $ 162,261 Below is the reconciliation of the liability of " Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . March 31, December 31, Policy claims and other benefits payable: Life insurance $ 234,470 $ 237,246 Health insurance 163,720 162,261 Total $ 398,190 $ 399,507

Postretirement Benefits

Postretirement Benefits	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Postretirement Benefits	Note 7—Postretirement Benefits Globe Life has qualified noncontributory defined benefit pension plans (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 officers. The tables included herein will focus on the defined benefit plans and SERP. Pension Assets: The following table presents the assets of the Company's defined benefit pension plan at March 31, 2021 and December 31, 2020. Pension Assets by Component at March 31, 2021 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 $ — $ 54,420 $ — $ 54,420 10 Utilities — 42,598 — 42,598 8 Energy — 22,015 — 22,015 4 Other corporates — 90,605 — 90,605 17 Total corporate bonds — 209,638 — 209,638 39 Exchange traded fund (1) 259,872 — — 259,872 49 Other bonds — 244 — 244 — Guaranteed annuity contract (2) — 30,253 — 30,253 6 Short-term investments 6,651 — — 6,651 1 Other 8,419 — — 8,419 2 $ 274,942 $ 240,135 $ — 515,077 97 Other long-term investments (3) 15,608 3 Total pension assets $ 530,685 100 (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 March 31, 2021, 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. Pension Assets by Component at December 31, 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 $ — $ 52,252 $ — $ 52,252 10 Utilities — 45,888 — 45,888 9 Energy — 22,480 — 22,480 4 Other corporates — 88,983 — 88,983 17 Total corporate bonds — 209,603 — 209,603 40 Exchange traded fund (1) 245,170 — — 245,170 46 Other bonds — 258 — 258 — Guaranteed annuity contract (2) — 30,119 — 30,119 6 Short-term investments 20,960 — — 20,960 4 Other 7,109 — — 7,109 1 $ 273,239 $ 239,980 $ — 513,219 97 Other long-term investments (3) 16,313 3 Total pension assets $ 529,532 100 (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, 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. SERP : The following table includes information regarding the SERP. Three Months Ended 2021 2020 Premiums paid for insurance coverage $ 443 $ 443 March 31, December 31, Total investments: Company owned life insurance $ 52,138 $ 51,361 Exchange traded funds 74,711 75,390 $ 126,849 $ 126,751 Pension and SERP Liabilities : The following table presents liabilities for the defined benefit pension plans and SERP at March 31, 2021 and December 31, 2020. March 31, December 31, Defined benefit pension $ 673,114 $ 667,753 SERP 95,631 95,560 Pension benefit obligation $ 768,745 $ 763,313 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 months ended March 31, 2021 and 2020. Components of Net Periodic Benefit Cost Three Months Ended 2021 2020 Service cost $ 7,918 $ 6,116 Interest cost 5,467 5,651 Expected return on assets (8,083) (7,390) Amortization: Prior service cost 158 158 Actuarial (gain) loss 4,985 3,924 Net periodic benefit cost $ 10,445 $ 8,459

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
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 2021 2020 Basic weighted average shares outstanding 103,482,944 107,285,223 Weighted average dilutive options outstanding 1,354,773 1,847,021 Diluted weighted average shares outstanding 104,837,717 109,132,244 Antidilutive shares 1,836,559 529,129

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Business Segments	Note 9—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) and Family Heritage Division (Family Heritage); an independent agency, United American Division (United American); and our Direct to Consumer Division (Direct to Consumer). The tables below present segment premium revenue by each of Globe Life's distribution channels. Premium Income by Distribution Channel Three Months Ended March 31, 2021 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 334,895 47 $ 27,351 9 $ — — $ 362,246 36 Direct to Consumer 244,028 35 19,360 7 — — 263,388 26 Liberty National 75,737 11 47,040 16 — — 122,777 12 United American 2,277 — 117,087 40 1 100 119,365 12 Family Heritage 1,118 — 83,335 28 — — 84,453 9 Other 50,064 7 — — — — 50,064 5 $ 708,119 100 $ 294,173 100 $ 1 100 $ 1,002,293 100 Three Months Ended March 31, 2020 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 302,852 47 $ 25,727 9 $ — — $ 328,579 35 Direct to Consumer 220,043 34 19,796 7 — — 239,839 26 Liberty National 72,868 11 47,640 17 — — 120,508 13 United American 2,490 — 110,059 39 — — 112,549 12 Family Heritage 1,021 — 76,983 28 — — 78,004 8 Other 50,356 8 — — — — 50,356 6 $ 649,630 100 $ 280,205 100 $ — — $ 929,835 100 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 are recognized. 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. Three Months Ended March 31, 2021 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 708,119 $ 294,173 $ 1 $ — $ — $ — $ 1,002,293 Net investment income — — — 235,820 — — 235,820 Other income — — — — 295 — 295 Total revenue 708,119 294,173 1 235,820 295 — 1,238,408 Expenses: Policy benefits 517,631 187,829 7,259 — — — 712,719 Required interest on reserves (179,925) (24,995) (10,005) 214,925 — — — Required interest on DAC 53,795 6,962 70 (60,827) — — — Amortization of acquisition costs 123,304 29,207 482 — — — 152,993 Commissions, premium taxes, and non-deferred acquisition costs 56,668 22,990 8 — — — 79,666 Insurance administrative expense (1) — — — — 66,176 4,828 (2) 71,004 Parent expense — — — — 2,318 2,318 Stock-based compensation expense — — — — 7,888 — 7,888 Interest expense — — — 21,178 — — 21,178 Total expenses 571,473 221,993 (2,186) 175,276 76,382 4,828 1,047,766 Subtotal 136,646 72,180 2,187 60,544 (76,087) (4,828) 190,642 Non-operating items — — — — — 4,828 (2) 4,828 Measure of segment profitability (pretax) $ 136,646 $ 72,180 $ 2,187 $ 60,544 $ (76,087) $ — 195,470 Realized gain (loss)—investments 28,152 Legal proceedings (4,828) Income before income taxes per Condensed Consolidated Statements of Operations $ 218,794 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Three Months Ended March 31, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 649,630 $ 280,205 $ — $ — $ — $ — $ 929,835 Net investment income — — — 228,991 — — 228,991 Other income — — — — 325 — 325 Total revenue 649,630 280,205 — 228,991 325 — 1,159,151 Expenses: Policy benefits 421,670 178,711 7,588 — — — 607,969 Required interest on reserves (171,205) (22,510) (10,456) 204,171 — — — Required interest on DAC 52,118 6,519 88 (58,725) — — — Amortization of acquisition costs 114,308 29,025 504 — — — 143,837 Commissions, premium taxes, and non-deferred acquisition costs 53,936 24,995 6 — — — 78,937 Insurance administrative expense (1) — — — — 63,620 3,275 (2) 66,895 Parent expense — — — — 2,331 — 2,331 Stock-based compensation expense — — — — 9,356 — 9,356 Interest expense — — — 20,808 — — 20,808 Total expenses 470,827 216,740 (2,270) 166,254 75,307 3,275 930,133 Subtotal 178,803 63,465 2,270 62,737 (74,982) (3,275) 229,018 Non-operating items — — — — — 3,275 (2) 3,275 Measure of segment profitability (pretax) $ 178,803 $ 63,465 $ 2,270 $ 62,737 $ (74,982) $ — 232,293 Realized gain (loss)—investments (26,097) Legal proceedings (3,275) Income before income taxes per Condensed Consolidated Statements of Operations $ 202,921 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2021 and 2020. 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 25, 2021.
New Accounting Pronouncements	Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect 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 became effective on January 1, 2021. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09/2020-11 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019 and 2020. 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. As a result of the issuance of ASU 2020-11 in November 2020, the effective date for this standard was changed to 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. As of the balance sheet date, the Company is continuing to upgrade its valuation systems as part of its implementation plan. In addition, significant progress has been made allowing the Company to execute parallel valuation runs on major blocks of business and is updating its accounting policies. Due to the overall nature of the standard, the impact on the consolidated financial statements is expected to be significant. At this time, the Company does not have an estimate of the impact. The Company does not expect to early adopt this ASU and has selected a modified retrospective transition method.

New Accounting Standards (Table

New Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Impact of New Accounting Pronouncements	Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect 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 became effective on January 1, 2021. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09/2020-11 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019 and 2020. 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. As a result of the issuance of ASU 2020-11 in November 2020, the effective date for this standard was changed to 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. As of the balance sheet date, the Company is continuing to upgrade its valuation systems as part of its implementation plan. In addition, significant progress has been made allowing the Company to execute parallel valuation runs on major blocks of business and is updating its accounting policies. Due to the overall nature of the standard, the impact on the consolidated financial statements is expected to be significant. At this time, the Company does not have an estimate of the impact. The Company does not expect to early adopt this ASU and has selected a modified retrospective transition method.

Supplemental Information Abou_2

Supplemental Information About Changes to Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
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 month periods ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Available Deferred Foreign Pension Total Balance at January 1, 2021 $ 3,175,572 $ (4,704) $ 23,302 $ (164,926) $ 3,029,244 Other comprehensive income (loss) before reclassifications, net of tax (995,098) 284 (482) — (995,296) Reclassifications, net of tax (13,542) — — 4,109 (9,433) Other comprehensive income (loss) (1,008,640) 284 (482) 4,109 (1,004,729) Balance at March 31, 2021 $ 2,166,932 $ (4,420) $ 22,820 $ (160,817) $ 2,024,515 Three Months Ended March 31, 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 (782,936) 303 (21,679) — (804,312) Reclassifications, net of tax 22,445 — — 3,284 25,729 Other comprehensive income (loss) (760,491) 303 (21,679) 3,284 (778,583) Balance at March 31, 2020 $ 1,222,159 $ (5,613) $ (9,621) $ (140,678) $ 1,066,247
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2021 and 2020. Three Months Ended March 31, Affected line items in the Statement of Operations Component Line Item 2021 2020 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ (18,790) $ 26,920 Realized (gains) losses Amortization of (discount) premium 1,648 1,492 Net investment income Total before tax (17,142) 28,412 Tax 3,600 (5,967) Income taxes Total after-tax (13,542) 22,445 Pension adjustments: Amortization of prior service cost 158 158 Other operating expense Amortization of actuarial (gain) loss 5,042 3,999 Other operating expense Total before tax 5,200 4,157 Tax (1,091) (873) Income taxes Total after-tax 4,109 3,284 Total reclassification (after-tax) $ (9,433) $ 25,729

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, 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. At March 31, 2021 Amortized 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 $ 381,473 $ — $ 55,367 $ (208) $ 436,632 2 States, municipalities, and political subdivisions 1,901,330 — 197,682 (7,653) 2,091,359 11 Foreign governments 56,664 — 1,944 (4,407) 54,201 — Corporates, by sector: Financial 4,458,076 — 719,494 (27,666) 5,149,904 26 Utilities 1,976,871 — 425,135 (2,301) 2,399,705 12 Energy 1,637,352 — 257,980 (9,816) 1,885,516 9 Other corporate sectors 6,828,995 — 1,136,803 (24,753) 7,941,045 39 Total corporates 14,901,294 — 2,539,412 (64,536) 17,376,170 86 Collateralized debt obligations 36,810 — 24,491 — 61,301 — Other asset-backed securities 134,388 — 4,482 (3,623) 135,247 1 Total fixed maturities $ 17,411,959 $ — $ 2,823,378 $ (80,427) $ 20,154,910 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2020 Amortized 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 $ 380,602 $ — $ 87,272 $ (43) $ 467,831 2 States, municipalities, and political subdivisions 1,880,607 — 251,291 (315) 2,131,583 10 Foreign governments 52,913 — 2,635 (898) 54,650 — Corporates, by sector: Financial 4,404,203 — 1,016,813 (24,221) 5,396,795 26 Utilities 1,975,460 — 608,595 (108) 2,583,947 12 Energy 1,623,970 (3,346) 346,197 (3,083) 1,963,738 9 Other corporate sectors 6,687,644 — 1,727,366 (6,218) 8,408,792 40 Total corporates 14,691,277 (3,346) 3,698,971 (33,630) 18,353,272 87 Collateralized debt obligations 57,007 — 23,460 (8,869) 71,598 — Other asset-backed securities 134,739 — 3,614 (3,778) 134,575 1 Total fixed maturities $ 17,197,145 $ (3,346) $ 4,067,243 $ (47,533) $ 21,213,509 100 (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 March 31, 2021 is shown below on an amortized cost basis, net of allowance for credit losses and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At March 31, 2021 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 105,545 $ 108,371 Due after one year through five years 772,951 855,320 Due after five years through ten years 1,886,155 2,215,335 Due after ten years through twenty years 6,391,788 7,768,248 Due after twenty years 8,084,093 9,010,840 Mortgage-backed and asset-backed securities 171,427 196,796 $ 17,411,959 $ 20,154,910
Schedule of Analysis of Investment Operations	Net investment income" for the three month periods ended March 31, 2021 and 2020 is summarized as follows: Three Months Ended 2021 2020 % Change Fixed maturities available for sale $ 221,719 $ 217,127 2 Policy loans 11,268 11,118 1 Other long-term investments (1) 8,162 4,623 77 Short-term investments 4 307 (99) 241,153 233,175 3 Less investment expense (5,333) (4,184) 27 Net investment income $ 235,820 $ 228,991 3
Realized Gains (Losses) on Investments	Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended 2021 2020 Fixed maturities available for sale: Proceeds from sales (1) $ 61,858 $ 50,360 Gross realized gains 1,134 2,642 Gross realized losses (12,019) — (1) There were no unsettled sales in the periods ended March 31, 2021 and 2020. An analysis of "Realized gains (losses)" is as follows: Three Months Ended 2021 2020 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ 15,444 $ 4,934 Provision for credit losses 3,346 (31,854) Fair value option—change in fair value 9,885 583 Other investments (523) 240 Realized gains (losses) from investments 28,152 (26,097) Applicable tax (5,912) 5,480 Realized gains (losses), net of tax $ 22,240 $ (20,617) (1) During the three months ended March 31, 2021 and 2020, the Company recorded $85.8 million and $5.9 million of exchanges of fixed maturities (noncash transactions) that resulted in $25.2 million and $0, 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 March 31, 2021 and December 31, 2020: Fair Value Measurement at March 31, 2021 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 436,632 $ — $ 436,632 States, municipalities, and political subdivisions — 2,091,359 — 2,091,359 Foreign governments — 54,201 — 54,201 Corporates, by sector: Financial — 4,976,857 173,047 5,149,904 Utilities — 2,226,600 173,105 2,399,705 Energy — 1,848,502 37,014 1,885,516 Other corporate sectors — 7,635,867 305,178 7,941,045 Total corporates — 16,687,826 688,344 17,376,170 Collateralized debt obligations — — 61,301 61,301 Other asset-backed securities — 123,638 11,609 135,247 Total fixed maturities $ — $ 19,393,656 $ 761,254 $ 20,154,910 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 467,831 $ — $ 467,831 States, municipalities, and political subdivisions — 2,131,583 — 2,131,583 Foreign governments — 54,650 — 54,650 Corporates, by sector: Financial — 5,222,066 174,729 5,396,795 Utilities — 2,400,602 183,345 2,583,947 Energy — 1,925,549 38,189 1,963,738 Other corporate sectors — 8,090,550 318,242 8,408,792 Total corporates — 17,638,767 714,505 18,353,272 Collateralized debt obligations — — 71,598 71,598 Other asset-backed securities — 121,705 12,870 134,575 Total fixed maturities $ — $ 20,414,536 $ 798,973 $ 21,213,509 Percentage of total — % 96 % 4 % 100 %
Fair Value, Assets Measured on Recurring Basis	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, 2021 $ 12,870 $ 71,598 $ 714,505 $ 798,973 Included in realized gains / losses — (6,787) — (6,787) Included in other comprehensive income (1,261) 9,900 (24,135) (15,496) Acquisitions — — — — Sales — (13,213) — (13,213) Amortization — 1,140 2 1,142 Other (1) — (1,337) (2,028) (3,365) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at March 31, 2021 $ 11,609 $ 61,301 $ 688,344 $ 761,254 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, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (276) (5,475) (34,072) (39,823) Acquisitions — — — — Sales — — — — Amortization — 1,139 2 1,141 Other (1) (134) (1,395) (20,876) (22,405) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at March 31, 2020 $ 12,767 $ 68,373 $ 618,395 $ 699,535 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 March 31, 2021 $ (1,261) $ 9,900 $ (24,135) $ (15,496) At March 31, 2020 (276) (5,475) (34,072) (39,823)
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 March 31, 2021 271 23 294 As of December 31, 2020 54 24 78
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 March 31, 2021. 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. The Company considers many factors when determining whether an allowance for a credit loss should be recorded. 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. Analysis of Gross Unrealized Investment Losses At March 31, 2021 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 $ 3,800 $ (208) $ 3 $ — $ 3,803 $ (208) States, municipalities and political subdivisions 211,681 (7,612) 450 (41) 212,131 (7,653) Foreign governments 32,807 (4,407) — — 32,807 (4,407) Corporates, by sector: Financial 296,250 (12,924) 4,851 (386) 301,101 (13,310) Utilities 28,739 (2,004) — — 28,739 (2,004) Energy 159,994 (6,492) — — 159,994 (6,492) Other corporate sectors 315,384 (18,826) — — 315,384 (18,826) Total corporates 800,367 (40,246) 4,851 (386) 805,218 (40,632) Collateralized debt obligations — — — — — — Other asset-backed securities 11,609 (1,324) — — 11,609 (1,324) Total investment grade securities 1,060,264 (53,797) 5,304 (427) 1,065,568 (54,224) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 25,136 (125) 104,183 (14,231) 129,319 (14,356) Utilities 15,381 (297) — — 15,381 (297) Energy 4,994 (2) 54,866 (3,322) 59,860 (3,324) Other corporate sectors 20,370 (3,789) 19,287 (2,138) 39,657 (5,927) Total corporates 65,881 (4,213) 178,336 (19,691) 244,217 (23,904) Collateralized debt obligations — — — — — — Other asset-backed securities — — 11,576 (2,299) 11,576 (2,299) Total below investment grade securities 65,881 (4,213) 189,912 (21,990) 255,793 (26,203) Total fixed maturities $ 1,126,145 $ (58,010) $ 195,216 $ (22,417) $ 1,321,361 $ (80,427) The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2020. Analysis of Gross Unrealized Investment Losses At December 31, 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 $ 2,006 $ (43) $ — $ — $ 2,006 $ (43) States, municipalities and political subdivisions 32,910 (315) — — 32,910 (315) Foreign governments 19,532 (898) — — 19,532 (898) Corporates, by sector: Financial 117,762 (2,564) 6,333 (2,168) 124,095 (4,732) Utilities 2,726 (108) — — 2,726 (108) Energy 1,692 (8) 14,871 (106) 16,563 (114) Other corporate sectors 21,882 (720) — — 21,882 (720) Total corporates 144,062 (3,400) 21,204 (2,274) 165,266 (5,674) Collateralized debt obligations — — — — — — Other asset-backed securities 28,864 (1,051) 5 — 28,869 (1,051) Total investment grade securities 227,374 (5,707) 21,209 (2,274) 248,583 (7,981) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 6,822 (36) 115,093 (19,453) 121,915 (19,489) Utilities — — — — — — Energy 18,432 (757) 38,720 (2,212) 57,152 (2,969) Other corporate sectors 25,711 (3,588) 19,516 (1,910) 45,227 (5,498) Total corporates 50,965 (4,381) 173,329 (23,575) 224,294 (27,956) Collateralized debt obligations — — 11,131 (8,869) 11,131 (8,869) Other asset-backed securities — — 11,223 (2,727) 11,223 (2,727) Total below investment grade securities 50,965 (4,381) 195,683 (35,171) 246,648 (39,552) Total fixed maturities $ 278,339 $ (10,088) $ 216,892 $ (37,445) $ 495,231 $ (47,533)
Fixed Maturities, Allowance for Credit Loss	A summary of the activity in the allowance for credit losses is as follows. Three Months Ended 2021 2020 Allowance for credit losses beginning balance $ 3,346 $ — Additions to allowance for which credit losses were not previously recorded — 31,854 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 (3,346) — Allowance for credit losses ending balance $ — $ 31,854
Other Long-Term Investments	Other long-term investments consist of the following assets: March 31, December 31, 2020 Investment funds $ 459,707 $ 385,038 Commercial mortgage loan participations 158,693 160,602 Other 1,341 1,341 Total $ 619,741 $ 546,981
Schedule of Investment Funds	The following table presents additional information about the Company's investment funds as of March 31, 2021 and December 31, 2020 at fair value: Fair Value Unfunded Commitments Investment Category March 31, December 31, 2020 March 31, Redemption Term/Notice Commercial mortgage loans $ 277,495 $ 227,050 $ 237,969 Portion non-redeemable and fully redeemable after 6 month period, subject to fund liquidity/discretion of General Partner. Expected life is 7 years for non-redeemable fund. Opportunistic credit 166,900 157,461 — Initial 2 year lock on each new investment/semi-annual withdrawals thereafter/full redemption within 36 month period. Other 15,312 527 139,143 Not redeemable Total investment funds $ 459,707 $ 385,038 $ 377,112
Summary of Commercial Mortgage Loan Participations	Summaries of commercial mortgage loans by property type and geographical location at March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 December 31, 2020 Carrying Value % of Total Carrying Value % of Total Property type: Mixed use $ 49,614 31 $ 49,002 31 Office 36,138 23 36,153 22 Hospitality 22,841 15 22,605 14 Retail 19,562 12 19,319 12 Industrial 17,900 11 17,900 11 Multi-family 14,785 9 19,128 12 Total recorded investment 160,840 101 164,107 102 Less allowance for credit losses (2,147) (1) (3,505) (2) Carrying value, net of allowance for credit losses $ 158,693 100 $ 160,602 100 March 31, 2021 December 31, 2020 Carrying Value % of Total Carrying Value % of Total Geographic location: California $ 61,880 39 $ 61,610 38 Virginia 27,019 17 27,019 17 New York 16,573 10 16,602 10 Pennsylvania 11,589 7 11,314 7 Indiana 9,717 6 9,717 6 Florida 8,021 5 12,420 8 Other 26,041 17 25,425 16 Total recorded investment 160,840 101 164,107 102 Less allowance for credit losses (2,147) (1) (3,505) (2) Carrying value, net of allowance for credit losses $ 158,693 100 $ 160,602 100
Commercial Loan Participations, Credit Quality Indicators	he following tables are reflective of Management's internal risk ratings of the loan portfolio. Loans are rated low, moderate, and high. The risk categories consider many different factors such as quality of asset, borrower status, as well as macroeconomic factors including COVID-19. These loans, originated in 2017 to 2020, are transitional or under construction and may not yet be income producing. Certain ratios, such as loan to value and debt service coverage ratios, may not be evaluated as the value of the underlying transitional property significantly fluctuates based on completion of the project. Net Book Value of Commercial Mortgage Loans Receivable by Year of Origination As of March 31, 2021 Risk Rating: Number of Loans 2021 2020 2019 2018 2017 Total Low 17 $ — $ 20,227 $ 15,332 $ 33,152 $ 61,881 $ 130,592 Moderate 4 — — 10,686 8,021 — 18,707 High 2 — — 4,561 6,980 — 11,541 Total commercial mortgage loans 23 $ — $ 20,227 $ 30,579 $ 48,153 $ 61,881 160,840 Less allowance for credit losses on the investment pool (2,147) Less allowance for credit losses on individual loans — Carrying value, net of valuation allowance $ 158,693 Net Book Value of Commercial Mortgage Loans Receivable by Year of Origination As of December 31, 2020 Risk Rating: Number of Loans 2020 2019 2018 2017 Total Low 17 $ 20,176 $ 14,757 $ 33,132 $ 61,460 $ 129,525 Moderate 4 — 10,640 7,796 — 18,436 High 3 — 4,554 11,592 — 16,146 Total commercial mortgage loans 24 $ 20,176 $ 29,951 $ 52,520 $ 61,460 164,107 Less allowance for credit losses on the investment pool (2,503) Less allowance for credit losses on individual loans (1,002) Carrying value, net of valuation allowance $ 160,602
Commercial Loan Participations, Allowance for Credit Loss	Three Months Ended 2021 2020 Allowance for credit losses beginning balance $ 3,505 $ — Cumulative effect of adoption ASU 2016-13 — 335 Provision (reversal) for credit losses (1,358) — Loans charge-off — — Allowance for credit losses ending balance $ 2,147 $ 335

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	3 Months Ended
	Mar. 31, 2021
Insurance [Abstract]
Summary of Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: March 31, December 31, Balance at beginning of period $ 162,261 $ 163,808 Incurred related to: Current year 163,839 584,936 Prior year (9,861) (14,829) Total incurred 153,978 570,107 Paid related to: Current year 66,431 442,127 Prior year 86,088 129,527 Total paid 152,519 571,654 Balance at end of period $ 163,720 $ 162,261
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 . March 31, December 31, Policy claims and other benefits payable: Life insurance $ 234,470 $ 237,246 Health insurance 163,720 162,261 Total $ 398,190 $ 399,507

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Pension Assets by Component at Fair Value	Pension Assets by Component at March 31, 2021 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 $ — $ 54,420 $ — $ 54,420 10 Utilities — 42,598 — 42,598 8 Energy — 22,015 — 22,015 4 Other corporates — 90,605 — 90,605 17 Total corporate bonds — 209,638 — 209,638 39 Exchange traded fund (1) 259,872 — — 259,872 49 Other bonds — 244 — 244 — Guaranteed annuity contract (2) — 30,253 — 30,253 6 Short-term investments 6,651 — — 6,651 1 Other 8,419 — — 8,419 2 $ 274,942 $ 240,135 $ — 515,077 97 Other long-term investments (3) 15,608 3 Total pension assets $ 530,685 100 (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 March 31, 2021, 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. Pension Assets by Component at December 31, 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 $ — $ 52,252 $ — $ 52,252 10 Utilities — 45,888 — 45,888 9 Energy — 22,480 — 22,480 4 Other corporates — 88,983 — 88,983 17 Total corporate bonds — 209,603 — 209,603 40 Exchange traded fund (1) 245,170 — — 245,170 46 Other bonds — 258 — 258 — Guaranteed annuity contract (2) — 30,119 — 30,119 6 Short-term investments 20,960 — — 20,960 4 Other 7,109 — — 7,109 1 $ 273,239 $ 239,980 $ — 513,219 97 Other long-term investments (3) 16,313 3 Total pension assets $ 529,532 100 (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.
Information Regarding the SERP	The following table includes information regarding the SERP. Three Months Ended 2021 2020 Premiums paid for insurance coverage $ 443 $ 443 March 31, December 31, Total investments: Company owned life insurance $ 52,138 $ 51,361 Exchange traded funds 74,711 75,390 $ 126,849 $ 126,751
Pension Liability	The following table presents liabilities for the defined benefit pension plans and SERP at March 31, 2021 and December 31, 2020. March 31, December 31, Defined benefit pension $ 673,114 $ 667,753 SERP 95,631 95,560 Pension benefit obligation $ 768,745 $ 763,313
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 months ended March 31, 2021 and 2020. Components of Net Periodic Benefit Cost Three Months Ended 2021 2020 Service cost $ 7,918 $ 6,116 Interest cost 5,467 5,651 Expected return on assets (8,083) (7,390) Amortization: Prior service cost 158 158 Actuarial (gain) loss 4,985 3,924 Net periodic benefit cost $ 10,445 $ 8,459

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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 2021 2020 Basic weighted average shares outstanding 103,482,944 107,285,223 Weighted average dilutive options outstanding 1,354,773 1,847,021 Diluted weighted average shares outstanding 104,837,717 109,132,244 Antidilutive shares 1,836,559 529,129

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Premium Income by Distribution Channel	Premium Income by Distribution Channel Three Months Ended March 31, 2021 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 334,895 47 $ 27,351 9 $ — — $ 362,246 36 Direct to Consumer 244,028 35 19,360 7 — — 263,388 26 Liberty National 75,737 11 47,040 16 — — 122,777 12 United American 2,277 — 117,087 40 1 100 119,365 12 Family Heritage 1,118 — 83,335 28 — — 84,453 9 Other 50,064 7 — — — — 50,064 5 $ 708,119 100 $ 294,173 100 $ 1 100 $ 1,002,293 100 Three Months Ended March 31, 2020 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 302,852 47 $ 25,727 9 $ — — $ 328,579 35 Direct to Consumer 220,043 34 19,796 7 — — 239,839 26 Liberty National 72,868 11 47,640 17 — — 120,508 13 United American 2,490 — 110,059 39 — — 112,549 12 Family Heritage 1,021 — 76,983 28 — — 78,004 8 Other 50,356 8 — — — — 50,356 6 $ 649,630 100 $ 280,205 100 $ — — $ 929,835 100
Reconciliation of Segment Operating Information to Consolidated Statement of Operations	Three Months Ended March 31, 2021 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 708,119 $ 294,173 $ 1 $ — $ — $ — $ 1,002,293 Net investment income — — — 235,820 — — 235,820 Other income — — — — 295 — 295 Total revenue 708,119 294,173 1 235,820 295 — 1,238,408 Expenses: Policy benefits 517,631 187,829 7,259 — — — 712,719 Required interest on reserves (179,925) (24,995) (10,005) 214,925 — — — Required interest on DAC 53,795 6,962 70 (60,827) — — — Amortization of acquisition costs 123,304 29,207 482 — — — 152,993 Commissions, premium taxes, and non-deferred acquisition costs 56,668 22,990 8 — — — 79,666 Insurance administrative expense (1) — — — — 66,176 4,828 (2) 71,004 Parent expense — — — — 2,318 2,318 Stock-based compensation expense — — — — 7,888 — 7,888 Interest expense — — — 21,178 — — 21,178 Total expenses 571,473 221,993 (2,186) 175,276 76,382 4,828 1,047,766 Subtotal 136,646 72,180 2,187 60,544 (76,087) (4,828) 190,642 Non-operating items — — — — — 4,828 (2) 4,828 Measure of segment profitability (pretax) $ 136,646 $ 72,180 $ 2,187 $ 60,544 $ (76,087) $ — 195,470 Realized gain (loss)—investments 28,152 Legal proceedings (4,828) Income before income taxes per Condensed Consolidated Statements of Operations $ 218,794 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Three Months Ended March 31, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 649,630 $ 280,205 $ — $ — $ — $ — $ 929,835 Net investment income — — — 228,991 — — 228,991 Other income — — — — 325 — 325 Total revenue 649,630 280,205 — 228,991 325 — 1,159,151 Expenses: Policy benefits 421,670 178,711 7,588 — — — 607,969 Required interest on reserves (171,205) (22,510) (10,456) 204,171 — — — Required interest on DAC 52,118 6,519 88 (58,725) — — — Amortization of acquisition costs 114,308 29,025 504 — — — 143,837 Commissions, premium taxes, and non-deferred acquisition costs 53,936 24,995 6 — — — 78,937 Insurance administrative expense (1) — — — — 63,620 3,275 (2) 66,895 Parent expense — — — — 2,331 — 2,331 Stock-based compensation expense — — — — 9,356 — 9,356 Interest expense — — — 20,808 — — 20,808 Total expenses 470,827 216,740 (2,270) 166,254 75,307 3,275 930,133 Subtotal 178,803 63,465 2,270 62,737 (74,982) (3,275) 229,018 Non-operating items — — — — — 3,275 (2) 3,275 Measure of segment profitability (pretax) $ 178,803 $ 63,465 $ 2,270 $ 62,737 $ (74,982) $ — 232,293 Realized gain (loss)—investments (26,097) Legal proceedings (3,275) Income before income taxes per Condensed Consolidated Statements of Operations $ 202,921 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings.

Significant Accounting Polici_3

Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2021segment
Accounting Policies [Abstract]
Number of reportable segments	4

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
	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	$ 8,771,092	$ 7,294,307
Other comprehensive income (loss) before reclassifications, net of tax	(995,296)	(804,312)
Reclassifications, net of tax	(9,433)	25,729
Other comprehensive income (loss)	(1,004,729)	(778,583)
Ending balance	7,832,337	6,520,282
Total
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	3,029,244	1,844,830
Ending balance	2,024,515	1,066,247
Available for Sale Assets
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	3,175,572	1,982,650
Other comprehensive income (loss) before reclassifications, net of tax	(995,098)	(782,936)
Reclassifications, net of tax	(13,542)	22,445
Other comprehensive income (loss)	(1,008,640)	(760,491)
Ending balance	2,166,932	1,222,159
Deferred Acquisition Costs
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(4,704)	(5,916)
Other comprehensive income (loss) before reclassifications, net of tax	284	303
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	284	303
Ending balance	(4,420)	(5,613)
Foreign Exchange
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	23,302	12,058
Other comprehensive income (loss) before reclassifications, net of tax	(482)	(21,679)
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	(482)	(21,679)
Ending balance	22,820	(9,621)
Pension Adjustments
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(164,926)	(143,962)
Other comprehensive income (loss) before reclassifications, net of tax	0	0
Reclassifications, net of tax	4,109	3,284
Other comprehensive income (loss)	4,109	3,284
Ending balance	$ (160,817)	$ (140,678)

Supplemental Information abou_4

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Summary of Reclassifications (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Unrealized investment (gains) losses on available for sale assets:
Realized (gains) losses	$ (28,152)	$ 26,097
Net investment income	(235,820)	(228,991)
Other operating expense	81,210	78,582
Total before tax	(218,794)	(202,921)
Tax	40,277	37,381
Total after-tax	(178,517)	(165,540)
Reclassification out of Accumulated Other Comprehensive Income
Unrealized investment (gains) losses on available for sale assets:
Total after-tax	(9,433)	25,729
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	(18,790)	26,920
Net investment income	1,648	1,492
Total before tax	(17,142)	28,412
Tax	3,600	(5,967)
Total after-tax	(13,542)	22,445
Reclassification out of Accumulated Other Comprehensive Income | Pension Adjustments
Unrealized investment (gains) losses on available for sale assets:
Total before tax	5,200	4,157
Tax	(1,091)	(873)
Total after-tax	4,109	3,284
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
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial (gain) loss
Unrealized investment (gains) losses on available for sale assets:
Other operating expense	$ 5,042	$ 3,999

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 17,411,959	$ 17,197,145
Allowance for Credit Losses	0	3,346
Fair Value	20,154,910	21,213,509
Corporates
Debt Securities, Available-for-sale [Line Items]
Allowance for Credit Losses	0	(3,346)	$ (31,854)	$ 0
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	17,411,959	17,197,145
Allowance for Credit Losses	0	(3,346)
Gross Unrealized Gains	2,823,378	4,067,243
Gross Unrealized Losses	(80,427)	(47,533)
Fair Value	$ 20,154,910	$ 21,213,509
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	$ 381,473	$ 380,602
Allowance for Credit Losses	0	0
Gross Unrealized Gains	55,367	87,272
Gross Unrealized Losses	(208)	(43)
Fair Value	$ 436,632	$ 467,831
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	$ 1,901,330	$ 1,880,607
Allowance for Credit Losses	0	0
Gross Unrealized Gains	197,682	251,291
Gross Unrealized Losses	(7,653)	(315)
Fair Value	$ 2,091,359	$ 2,131,583
Percentage of Fixed Maturities at Fair Value	11.00%	10.00%
Fixed maturities available for sale | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 56,664	$ 52,913
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,944	2,635
Gross Unrealized Losses	(4,407)	(898)
Fair Value	$ 54,201	$ 54,650
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	$ 14,901,294	$ 14,691,277
Allowance for Credit Losses	0	(3,346)
Gross Unrealized Gains	2,539,412	3,698,971
Gross Unrealized Losses	(64,536)	(33,630)
Fair Value	$ 17,376,170	$ 18,353,272
Percentage of Fixed Maturities at Fair Value	86.00%	87.00%
Fixed maturities available for sale | Corporates | Financial
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 4,458,076	$ 4,404,203
Allowance for Credit Losses	0	0
Gross Unrealized Gains	719,494	1,016,813
Gross Unrealized Losses	(27,666)	(24,221)
Fair Value	$ 5,149,904	$ 5,396,795
Percentage of Fixed Maturities at Fair Value	26.00%	26.00%
Fixed maturities available for sale | Corporates | Utilities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,976,871	$ 1,975,460
Allowance for Credit Losses	0	0
Gross Unrealized Gains	425,135	608,595
Gross Unrealized Losses	(2,301)	(108)
Fair Value	$ 2,399,705	$ 2,583,947
Percentage of Fixed Maturities at Fair Value	12.00%	12.00%
Fixed maturities available for sale | Corporates | Energy
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,637,352	$ 1,623,970
Allowance for Credit Losses	0	(3,346)
Gross Unrealized Gains	257,980	346,197
Gross Unrealized Losses	(9,816)	(3,083)
Fair Value	$ 1,885,516	$ 1,963,738
Percentage of Fixed Maturities at Fair Value	9.00%	9.00%
Fixed maturities available for sale | Corporates | Other corporate sectors
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6,828,995	$ 6,687,644
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,136,803	1,727,366
Gross Unrealized Losses	(24,753)	(6,218)
Fair Value	$ 7,941,045	$ 8,408,792
Percentage of Fixed Maturities at Fair Value	39.00%	40.00%
Fixed maturities available for sale | Collateralized debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 36,810	$ 57,007
Allowance for Credit Losses	0	0
Gross Unrealized Gains	24,491	23,460
Gross Unrealized Losses	0	(8,869)
Fair Value	$ 61,301	$ 71,598
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	$ 134,388	$ 134,739
Allowance for Credit Losses	0	0
Gross Unrealized Gains	4,482	3,614
Gross Unrealized Losses	(3,623)	(3,778)
Fair Value	$ 135,247	$ 134,575
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	Mar. 31, 2021	Dec. 31, 2020
Amortized Cost, net
Due in one year or less	$ 105,545
Due after one year through five years	772,951
Due after five years through ten years	1,886,155
Due after ten years through twenty years	6,391,788
Due after twenty years	8,084,093
Mortgage-backed and asset-backed securities	171,427
Fixed maturities, net of allowance for credit losses	17,411,959
Fair Value
Due in one year or less	108,371
Due after one year through five years	855,320
Due after five years through ten years	2,215,335
Due after ten years through twenty years	7,768,248
Due after twenty years	9,010,840
Mortgage-backed and asset-backed securities	196,796
Fixed maturities, fair value	$ 20,154,910	$ 21,213,509

Investments - Schedule of Analy

Investments - Schedule of Analysis of Investment Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Investment Income [Line Items]
Investment income, gross	$ 241,153	$ 233,175
Less investment expense	(5,333)	(4,184)
Net investment income	$ 235,820	228,991
Percentage change in investment income, gross	3.00%
Percentage change in investment expense	27.00%
Percentage change in net investment income	3.00%
Investment distribution	$ 5,800	2,000
Fixed maturities available for sale
Net Investment Income [Line Items]
Investment income, gross	$ 221,719	217,127
Percentage change in investment income, gross	2.00%
Policy loans
Net Investment Income [Line Items]
Investment income, gross	$ 11,268	11,118
Percentage change in investment income, gross	1.00%
Other long-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 8,162	4,623
Percentage change in investment income, gross	77.00%
Short-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 4	$ 307
Percentage change in investment income, gross	(99.00%)

Investments - Schedule of Selec

Investments - Schedule of Selected Information about Sales of Fixed Maturities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 61,858	$ 50,360
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	61,858	50,360
Gross realized gains	1,134	2,642
Gross realized losses	$ (12,019)	$ 0

Investments - Realized Gain (Lo

Investments - Realized Gain (Loss) on Investments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Realized investment gains (losses) - sales and other	$ 15,444	$ 4,934
Provision for credit losses	3,346	(31,854)
Fair value option—change in fair value	9,885	583
Other investments	(523)	240
Realized gains (losses) from investments	28,152	(26,097)
Applicable tax	(5,912)	5,480
Realized gains (losses), net of tax	22,240	(20,617)
Exchanges of fixed maturities	85,800	5,900
Exchanges of fixed maturities, net realized gains	$ 25,200	$ 0

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 20,154,910	$ 21,213,509
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	$ 20,154,910	$ 21,213,509
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	$ 436,632	$ 467,831
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	2,091,359	2,131,583
Fixed maturities available for sale | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	54,201	54,650
Fixed maturities available for sale | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,376,170	18,353,272
Fixed maturities available for sale | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,149,904	5,396,795
Fixed maturities available for sale | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,399,705	2,583,947
Fixed maturities available for sale | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,885,516	1,963,738
Fixed maturities available for sale | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,941,045	8,408,792
Fixed maturities available for sale | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	135,247	134,575
Fixed maturities available for sale | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,301	71,598
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) | 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 | 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 | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 19,393,656	$ 20,414,536
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	$ 436,632	$ 467,831
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	2,091,359	2,131,583
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	54,201	54,650
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	16,687,826	17,638,767
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	4,976,857	5,222,066
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	2,226,600	2,400,602
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	1,848,502	1,925,549
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	7,635,867	8,090,550
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	123,638	121,705
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 Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 761,254	$ 798,973
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	688,344	714,505
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	173,047	174,729
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	173,105	183,345
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	37,014	38,189
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	305,178	318,242
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	11,609	12,870
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	$ 61,301	$ 71,598

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	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 798,973	$ 759,409
Included in realized gains / losses	(6,787)	1,213
Included in other comprehensive income	(15,496)	(39,823)
Acquisitions	0	0
Sales	(13,213)	0
Amortization	1,142	1,141
Other	(3,365)	(22,405)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 761,254	699,535
Percentage of total	4.00%		4.00%
Asset- backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 12,870	13,177
Included in realized gains / losses	0	0
Included in other comprehensive income	(1,261)	(276)
Acquisitions	0	0
Sales	0	0
Amortization	0	0
Other	0	(134)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 11,609	12,767
Percentage of total	0.00%		0.00%
Collateralized debt obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 71,598	74,104
Included in realized gains / losses	(6,787)	0
Included in other comprehensive income	9,900	(5,475)
Acquisitions	0	0
Sales	(13,213)	0
Amortization	1,140	1,139
Other	(1,337)	(1,395)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 61,301	68,373
Percentage of total	1.00%		1.00%
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 714,505	672,128
Included in realized gains / losses	0	1,213
Included in other comprehensive income	(24,135)	(34,072)
Acquisitions	0	0
Sales	0	0
Amortization	2	2
Other	(2,028)	(20,876)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 688,344	$ 618,395
Percentage of total	3.00%		3.00%

Investments - Unrealized Gains

Investments - Unrealized Gains or (Losses) Included in Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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	$ (15,496)	$ (39,823)
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	(1,261)	(276)
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	9,900	(5,475)
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	$ (24,135)	$ (34,072)

Investments - Information about

Investments - Information about Investments in Unrealized Loss Position (Detail)	Mar. 31, 2021Issueissuer	Dec. 31, 2020Issueissuer
Investments, Debt and Equity Securities [Abstract]
Less than Twelve Months	271	54
Twelve Months or Longer	23	24
Total	294	78
Fixed maturity, portfolio issues	1,917	1,900
Fixed portfolio, number of issuers | issuer	781	777

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	$ 1,126,145	$ 278,339
Unrealized Loss, Less than Twelve Months	(58,010)	(10,088)
Fair Value, Twelve Months or Longer	195,216	216,892
Unrealized Loss, Twelve Months or Longer	(22,417)	(37,445)
Fair Value	1,321,361	495,231
Total	(80,427)	(47,533)
Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	1,060,264	227,374
Unrealized Loss, Less than Twelve Months	(53,797)	(5,707)
Fair Value, Twelve Months or Longer	5,304	21,209
Unrealized Loss, Twelve Months or Longer	(427)	(2,274)
Fair Value	1,065,568	248,583
Total	(54,224)	(7,981)
Investment Grade | U.S. Government direct, guaranteed, and government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	3,800	2,006
Unrealized Loss, Less than Twelve Months	(208)	(43)
Fair Value, Twelve Months or Longer	3	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	3,803	2,006
Total	(208)	(43)
Investment Grade | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	211,681	32,910
Unrealized Loss, Less than Twelve Months	(7,612)	(315)
Fair Value, Twelve Months or Longer	450	0
Unrealized Loss, Twelve Months or Longer	(41)	0
Fair Value	212,131	32,910
Total	(7,653)	(315)
Investment Grade | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	32,807	19,532
Unrealized Loss, Less than Twelve Months	(4,407)	(898)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	32,807	19,532
Total	(4,407)	(898)
Investment Grade | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	800,367	144,062
Unrealized Loss, Less than Twelve Months	(40,246)	(3,400)
Fair Value, Twelve Months or Longer	4,851	21,204
Unrealized Loss, Twelve Months or Longer	(386)	(2,274)
Fair Value	805,218	165,266
Total	(40,632)	(5,674)
Investment Grade | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	11,609	28,864
Unrealized Loss, Less than Twelve Months	(1,324)	(1,051)
Fair Value, Twelve Months or Longer	0	5
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	11,609	28,869
Total	(1,324)	(1,051)
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	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	0	0
Total	0	0
Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	296,250	117,762
Unrealized Loss, Less than Twelve Months	(12,924)	(2,564)
Fair Value, Twelve Months or Longer	4,851	6,333
Unrealized Loss, Twelve Months or Longer	(386)	(2,168)
Fair Value	301,101	124,095
Total	(13,310)	(4,732)
Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	28,739	2,726
Unrealized Loss, Less than Twelve Months	(2,004)	(108)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	28,739	2,726
Total	(2,004)	(108)
Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	159,994	1,692
Unrealized Loss, Less than Twelve Months	(6,492)	(8)
Fair Value, Twelve Months or Longer	0	14,871
Unrealized Loss, Twelve Months or Longer	0	(106)
Fair Value	159,994	16,563
Total	(6,492)	(114)
Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	315,384	21,882
Unrealized Loss, Less than Twelve Months	(18,826)	(720)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	315,384	21,882
Total	(18,826)	(720)
Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	65,881	50,965
Unrealized Loss, Less than Twelve Months	(4,213)	(4,381)
Fair Value, Twelve Months or Longer	189,912	195,683
Unrealized Loss, Twelve Months or Longer	(21,990)	(35,171)
Fair Value	255,793	246,648
Total	(26,203)	(39,552)
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	65,881	50,965
Unrealized Loss, Less than Twelve Months	(4,213)	(4,381)
Fair Value, Twelve Months or Longer	178,336	173,329
Unrealized Loss, Twelve Months or Longer	(19,691)	(23,575)
Fair Value	244,217	224,294
Total	(23,904)	(27,956)
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	11,576	11,223
Unrealized Loss, Twelve Months or Longer	(2,299)	(2,727)
Fair Value	11,576	11,223
Total	(2,299)	(2,727)
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	0	11,131
Unrealized Loss, Twelve Months or Longer	0	(8,869)
Fair Value	0	11,131
Total	0	(8,869)
Below Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	25,136	6,822
Unrealized Loss, Less than Twelve Months	(125)	(36)
Fair Value, Twelve Months or Longer	104,183	115,093
Unrealized Loss, Twelve Months or Longer	(14,231)	(19,453)
Fair Value	129,319	121,915
Total	(14,356)	(19,489)
Below Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	15,381	0
Unrealized Loss, Less than Twelve Months	(297)	0
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	15,381	0
Total	(297)	0
Below Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	4,994	18,432
Unrealized Loss, Less than Twelve Months	(2)	(757)
Fair Value, Twelve Months or Longer	54,866	38,720
Unrealized Loss, Twelve Months or Longer	(3,322)	(2,212)
Fair Value	59,860	57,152
Total	(3,324)	(2,969)
Below Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	20,370	25,711
Unrealized Loss, Less than Twelve Months	(3,789)	(3,588)
Fair Value, Twelve Months or Longer	19,287	19,516
Unrealized Loss, Twelve Months or Longer	(2,138)	(1,910)
Fair Value	39,657	45,227
Total	$ (5,927)	$ (5,498)

Investments - Fixed Maturities,

Investments - Fixed Maturities, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	$ (3,346)
Allowance for credit losses ending balance	0
Fixed maturities available for sale
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	3,346
Allowance for credit losses ending balance	0
Corporates
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	3,346	$ 0
Additions to allowance for which credit losses were not previously recorded	0	31,854
Additions (reductions) to allowance for fixed maturities that previously had an allowance	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	(3,346)	0
Allowance for credit losses ending balance	0	$ 31,854
Corporates | Fixed maturities available for sale
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	3,346
Allowance for credit losses ending balance	$ 0

Investments - Schedule of Other

Investments - Schedule of Other Long-Term Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Long-Term Investment [Line Items]
Commercial mortgage loan participations	$ 619,741	$ 546,981
Commercial mortgage participations
Long-Term Investment [Line Items]
Commercial mortgage loan participations	158,693	160,602
Other
Long-Term Investment [Line Items]
Commercial mortgage loan participations	1,341	1,341
Partnership Interest - Fair Value Option | Investment funds
Long-Term Investment [Line Items]
Commercial mortgage loan participations	$ 459,707	$ 385,038

Investments - Schedule of Inves

Investments - Schedule of Investment Funds (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Alternative Investment [Line Items]
Investment funds, unfunded commitments	$ 377,000
Investment funds
Alternative Investment [Line Items]
Investment funds, fair value	459,707	$ 385,038
Investment funds, unfunded commitments	377,112
Investment funds | Commercial mortgage loans
Alternative Investment [Line Items]
Investment funds, fair value	277,495	227,050
Investment funds, unfunded commitments	$ 237,969
Redemption period	6 months
Expected life of investment	7 years
Investment funds | Opportunistic credit
Alternative Investment [Line Items]
Investment funds, fair value	$ 166,900	157,461
Investment funds, unfunded commitments	$ 0
Redemption period	36 months
Initial lock period	2 years
Investment funds | Other investments
Alternative Investment [Line Items]
Investment funds, fair value	$ 15,312	$ 527
Investment funds, unfunded commitments	$ 139,143

Investments - Commercial Mortga

Investments - Commercial Mortgage Loan Participations (Details) - Commercial mortgage participations - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 160,840	$ 164,107
Carrying value, gross, percent	101.00%	102.00%
Allowance for credit losses	$ (2,147)	$ (3,505)	$ (335)	$ 0
Allowance for credit losses, percent	(1.00%)	(2.00%)
Carrying value, net of valuation allowance	$ 158,693	$ 160,602
Carrying value, net, percent	100.00%	100.00%
California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 61,880	$ 61,610
Carrying value, gross, percent	39.00%	38.00%
Virginia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 27,019	$ 27,019
Carrying value, gross, percent	17.00%	17.00%
New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 16,573	$ 16,602
Carrying value, gross, percent	10.00%	10.00%
Pennsylvania
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 11,589	$ 11,314
Carrying value, gross, percent	7.00%	7.00%
Indiana
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 9,717	$ 9,717
Carrying value, gross, percent	6.00%	6.00%
Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 8,021	$ 12,420
Carrying value, gross, percent	5.00%	8.00%
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 26,041	$ 25,425
Carrying value, gross, percent	17.00%	16.00%
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 36,138	$ 36,153
Carrying value, gross, percent	23.00%	22.00%
Mixed use
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 49,614	$ 49,002
Carrying value, gross, percent	31.00%	31.00%
Hospitality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 22,841	$ 22,605
Carrying value, gross, percent	15.00%	14.00%
Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 17,900	$ 17,900
Carrying value, gross, percent	11.00%	11.00%
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 19,562	$ 19,319
Carrying value, gross, percent	12.00%	12.00%
Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 14,785	$ 19,128
Carrying value, gross, percent	9.00%	12.00%

Investments - Commercial Mort_2

Investments - Commercial Mortgage Loan Participations, Internal Credit Assessment (Details) $ in Thousands	Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Credit Quality Indicator [Line Items]
Less allowance for credit losses on the investment pool	$ (2,147)	$ (2,503)
Less allowance for credit losses on individual loans	$ 0	$ (1,002)
Commercial mortgage participations
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	23	24
2021	$ 0	$ 20,176
2020	20,227	29,951
2019	30,579	52,520
2018	48,153	61,460
2017	61,881
Total commercial mortgage loans	160,840	164,107
Carrying value, net of valuation allowance	$ 158,693	$ 160,602
Commercial mortgage participations | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	17	17
2021	$ 0	$ 20,176
2020	20,227	14,757
2019	15,332	33,132
2018	33,152	61,460
2017	61,881
Total commercial mortgage loans	$ 130,592	$ 129,525
Commercial mortgage participations | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	4	4
2021	$ 0	$ 0
2020	0	10,640
2019	10,686	7,796
2018	8,021	0
2017	0
Total commercial mortgage loans	$ 18,707	$ 18,436
Commercial mortgage participations | High
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	2	3
2021	$ 0	$ 0
2020	0	4,554
2019	4,561	11,592
2018	6,980	0
2017	0
Total commercial mortgage loans	$ 11,541	$ 16,146

Investments - Commercial Mort_3

Investments - Commercial Mortgage Loan Participations, Allowance for Credit Loss (Details) - Commercial mortgage participations $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)loan	Mar. 31, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans | loan	23
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	$ 3,505	$ 0
Provision (reversal) for credit losses	(1,358)	0
Loans charge-off	0	0
Allowance for credit losses ending balance	2,147	335
Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	$ 0	$ 335

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Issueissuer	Dec. 31, 2020USD ($)Issueissuer
Debt Securities, Available-for-sale [Line Items]
Fixed maturity, portfolio issues | Issue	1,917	1,900
Fixed portfolio, number of issuers | issuer	781	777
Capital called from investment funds	$ 61,000
Investment funds, unfunded commitments	377,000
Unfunded loan commitment
Debt Securities, Available-for-sale [Line Items]
Carrying value, net of valuation allowance		$ 46,000
Investment funds
Debt Securities, Available-for-sale [Line Items]
Investment funds, unfunded commitments	$ 377,112
Investment funds | Minimum
Debt Securities, Available-for-sale [Line Items]
Investment funds ownership percentage	1.00%
Investment funds | Maximum
Debt Securities, Available-for-sale [Line Items]
Investment funds ownership percentage	20.00%
Commercial mortgage participations
Debt Securities, Available-for-sale [Line Items]
Carrying value, net of valuation allowance	$ 158,693	$ 160,602

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2021USD ($)
Short-term Debt [Line Items]
Letters of credit facility outstanding	$ 135
Letter of Credit
Short-term Debt [Line Items]
Letter of credit maximum available amount	$ 250

Liability for Unpaid Claims - S

Liability for Unpaid Claims - Summary of Liability for Unpaid Health Claims (Details) - Health premium - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Activity in the Liability for Unpaid Health Claims
Beginning balance	$ 162,261	$ 163,808
Incurred related to:
Current year	163,839	584,936
Prior years	(9,861)	(14,829)
Total incurred	153,978	570,107
Paid related to:
Current year	66,431	442,127
Prior year	86,088	129,527
Total paid	152,519	571,654
Ending balance	$ 163,720	$ 162,261

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 398,190	$ 399,507
Life insurance
Policy claims and other benefits payable:
Policy claims and other benefits payable	234,470	237,246
Health premium
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 163,720	$ 162,261

Postretirement Benefits - Pensi

Postretirement Benefits - Pension Assets by Components at Fair Value (Detail) - Pension plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 530,685		$ 529,532
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	4 years
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 515,077		$ 513,219
Percentage of plan assets	97.00%		97.00%
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 274,942		$ 273,239
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	240,135		239,980
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0		0
Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 15,608		$ 16,313
Percentage of plan assets	3.00%		3.00%
Total corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 209,638		$ 209,603
Percentage of total plan assets, within plan asset category	39.00%		40.00%
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
Total corporate bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	209,638		209,603
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
Financial
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 54,420		$ 52,252
Percentage of total plan assets, within plan asset category	10.00%		10.00%
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
Financial | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	54,420		52,252
Financial | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
Utilities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 42,598		$ 45,888
Percentage of total plan assets, within plan asset category	8.00%		9.00%
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
Utilities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	42,598		45,888
Utilities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
Energy
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 22,015		$ 22,480
Percentage of total plan assets, within plan asset category	4.00%		4.00%
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
Energy | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	22,015		22,480
Energy | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
Other corporates
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 90,605		$ 88,983
Percentage of total plan assets, within plan asset category	17.00%		17.00%
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
Other corporates | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	90,605		88,983
Other corporates | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
Exchange traded funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 259,872		$ 245,170
Percentage of total plan assets, within plan asset category	49.00%		46.00%
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	$ 259,872		$ 245,170
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
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
Other bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 244		$ 258
Percentage of total plan assets, within plan asset category	0.00%		0.00%
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
Other bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	244		258
Other bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
Guaranteed annuity contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 30,253		$ 30,119
Percentage of total plan assets, within plan asset category	6.00%		6.00%
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
Guaranteed annuity contract | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	30,253		30,119
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
Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 6,651		$ 20,960
Percentage of total plan assets, within plan asset category	1.00%		4.00%
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	$ 6,651		$ 20,960
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
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
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 8,419		$ 7,109
Percentage of total plan assets, within plan asset category	2.00%		1.00%
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	$ 8,419		$ 7,109
Other | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0		0
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	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Retirement Benefits [Abstract]
Premiums paid for insurance coverage	$ 443	$ 443
Total investments:
COLI	52,138		$ 51,361
Exchange traded funds	74,711		75,390
Total investments of SERP	$ 126,849		$ 126,751

Postretirement Benefits - Pen_2

Postretirement Benefits - Pension and SERP Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension benefit obligation	$ 768,745	$ 763,313
Nonqualified Plan | SERP
Defined Benefit Plan Disclosure [Line Items]
Pension benefit obligation	95,631	95,560
Funded defined benefit pension | Qualified Plan | Funded benefit pension plans
Defined Benefit Plan Disclosure [Line Items]
Pension benefit obligation	$ 673,114	$ 667,753

Postretirement Benefits - Compo

Postretirement Benefits - Components of Net Periodic Pension Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Retirement Benefits [Abstract]
Service cost	$ 7,918	$ 6,116
Interest cost	5,467	5,651
Expected return on assets	(8,083)	(7,390)
Prior service cost	158	158
Actuarial (gain) loss	4,985	3,924
Net periodic benefit cost	$ 10,445	$ 8,459

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	103,482,944	107,285,223
Weighted average dilutive options outstanding (in shares)	1,354,773	1,847,021
Diluted weighted average shares outstanding (in shares)	104,837,717	109,132,244
Antidilutive shares (in shares)	1,836,559	529,129

Business Segments - Segment Pre

Business Segments - Segment Premium Income by Distribution Channel and Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of segments | segment	4
Segment Reporting Information [Line Items]
Revenue	$ 1,002,293	$ 929,835
% of Total	100.00%	100.00%
Life
Segment Reporting Information [Line Items]
Revenue	$ 708,119	$ 649,630
% of Total	100.00%	100.00%
Health
Segment Reporting Information [Line Items]
Revenue	$ 294,173	$ 280,205
% of Total	100.00%	100.00%
Annuity
Segment Reporting Information [Line Items]
Revenue	$ 1	$ 0
% of Total	100.00%	0.00%
American Income
Segment Reporting Information [Line Items]
Revenue	$ 362,246	$ 328,579
% of Total	36.00%	35.00%
American Income | Life
Segment Reporting Information [Line Items]
Revenue	$ 334,895	$ 302,852
% of Total	47.00%	47.00%
American Income | Health
Segment Reporting Information [Line Items]
Revenue	$ 27,351	$ 25,727
% of Total	9.00%	9.00%
American Income | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	0.00%	0.00%
Direct to Consumer
Segment Reporting Information [Line Items]
Revenue	$ 263,388	$ 239,839
% of Total	26.00%	26.00%
Direct to Consumer | Life
Segment Reporting Information [Line Items]
Revenue	$ 244,028	$ 220,043
% of Total	35.00%	34.00%
Direct to Consumer | Health
Segment Reporting Information [Line Items]
Revenue	$ 19,360	$ 19,796
% of Total	7.00%	7.00%
Direct to Consumer | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	0.00%	0.00%
Liberty National
Segment Reporting Information [Line Items]
Revenue	$ 122,777	$ 120,508
% of Total	12.00%	13.00%
Liberty National | Life
Segment Reporting Information [Line Items]
Revenue	$ 75,737	$ 72,868
% of Total	11.00%	11.00%
Liberty National | Health
Segment Reporting Information [Line Items]
Revenue	$ 47,040	$ 47,640
% of Total	16.00%	17.00%
Liberty National | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	0.00%	0.00%
United American
Segment Reporting Information [Line Items]
Revenue	$ 119,365	$ 112,549
% of Total	12.00%	12.00%
United American | Life
Segment Reporting Information [Line Items]
Revenue	$ 2,277	$ 2,490
% of Total	0.00%	0.00%
United American | Health
Segment Reporting Information [Line Items]
Revenue	$ 117,087	$ 110,059
% of Total	40.00%	39.00%
United American | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 1	$ 0
% of Total	100.00%	0.00%
Family Heritage
Segment Reporting Information [Line Items]
Revenue	$ 84,453	$ 78,004
% of Total	9.00%	8.00%
Family Heritage | Life
Segment Reporting Information [Line Items]
Revenue	$ 1,118	$ 1,021
% of Total	0.00%	0.00%
Family Heritage | Health
Segment Reporting Information [Line Items]
Revenue	$ 83,335	$ 76,983
% of Total	28.00%	28.00%
Family Heritage | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	0.00%	0.00%
Other
Segment Reporting Information [Line Items]
Revenue	$ 50,064	$ 50,356
% of Total	5.00%	6.00%
Other | Life
Segment Reporting Information [Line Items]
Revenue	$ 50,064	$ 50,356
% of Total	7.00%	8.00%
Other | Health
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	0.00%	0.00%
Other | Annuity
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
% of Total	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
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Premium	$ 1,002,293	$ 929,835
Net investment income	235,820	228,991
Other income	295	325
Total revenue	1,238,408	1,159,151
Expenses:
Policy benefits	712,719	607,969
Required interest on reserves	0	0
Required interest on DAC	0	0
Amortization of acquisition costs	152,993	143,837
Commissions, premium taxes, and non-deferred acquisition costs	79,666	78,937
Insurance administrative expense	71,004	66,895
Parent expense	2,318	2,331
Stock-based compensation expense	7,888	9,356
Interest expense	21,178	20,808
Total benefits and expenses	1,047,766	930,133
Subtotal	190,642	229,018
Non-operating items	4,828	3,275
Measure of segment profitability (pretax)	195,470	232,293
Realized gain (loss)—investments	28,152	(26,097)
Legal proceedings	(4,828)	(3,275)
Income before income taxes	218,794	202,921
American Income
Revenue:
Premium	362,246	328,579
Direct to Consumer
Revenue:
Premium	263,388	239,839
Liberty National
Revenue:
Premium	122,777	120,508
United American
Revenue:
Premium	119,365	112,549
Other
Revenue:
Premium	50,064	50,356
Family Heritage
Revenue:
Premium	84,453	78,004
Life
Revenue:
Premium	708,119	649,630
Life | American Income
Revenue:
Premium	334,895	302,852
Life | Direct to Consumer
Revenue:
Premium	244,028	220,043
Life | Liberty National
Revenue:
Premium	75,737	72,868
Life | United American
Revenue:
Premium	2,277	2,490
Life | Other
Revenue:
Premium	50,064	50,356
Life | Family Heritage
Revenue:
Premium	1,118	1,021
Health
Revenue:
Premium	294,173	280,205
Health | American Income
Revenue:
Premium	27,351	25,727
Health | Direct to Consumer
Revenue:
Premium	19,360	19,796
Health | Liberty National
Revenue:
Premium	47,040	47,640
Health | United American
Revenue:
Premium	117,087	110,059
Health | Other
Revenue:
Premium	0	0
Health | Family Heritage
Revenue:
Premium	83,335	76,983
Annuity
Revenue:
Premium	1	0
Annuity | American Income
Revenue:
Premium	0	0
Annuity | Direct to Consumer
Revenue:
Premium	0	0
Annuity | Liberty National
Revenue:
Premium	0	0
Annuity | United American
Revenue:
Premium	1	0
Annuity | Other
Revenue:
Premium	0	0
Annuity | Family Heritage
Revenue:
Premium	0	0
Operating Segments | Life
Revenue:
Premium	708,119	649,630
Net investment income	0	0
Other income	0	0
Total revenue	708,119	649,630
Expenses:
Policy benefits	517,631	421,670
Required interest on reserves	(179,925)	(171,205)
Required interest on DAC	53,795	52,118
Amortization of acquisition costs	123,304	114,308
Commissions, premium taxes, and non-deferred acquisition costs	56,668	53,936
Insurance administrative expense	0	0
Parent expense	0	0
Stock-based compensation expense	0	0
Interest expense	0	0
Total benefits and expenses	571,473	470,827
Subtotal	136,646	178,803
Measure of segment profitability (pretax)	136,646	178,803
Operating Segments | Health
Revenue:
Premium	294,173	280,205
Net investment income	0	0
Other income	0	0
Total revenue	294,173	280,205
Expenses:
Policy benefits	187,829	178,711
Required interest on reserves	(24,995)	(22,510)
Required interest on DAC	6,962	6,519
Amortization of acquisition costs	29,207	29,025
Commissions, premium taxes, and non-deferred acquisition costs	22,990	24,995
Insurance administrative expense	0	0
Parent expense	0	0
Stock-based compensation expense	0	0
Interest expense	0	0
Total benefits and expenses	221,993	216,740
Subtotal	72,180	63,465
Measure of segment profitability (pretax)	72,180	63,465
Operating Segments | Annuity
Revenue:
Premium	1	0
Net investment income	0	0
Other income	0	0
Total revenue	1	0
Expenses:
Policy benefits	7,259	7,588
Required interest on reserves	(10,005)	(10,456)
Required interest on DAC	70	88
Amortization of acquisition costs	482	504
Commissions, premium taxes, and non-deferred acquisition costs	8	6
Insurance administrative expense	0	0
Parent expense	0	0
Stock-based compensation expense	0	0
Interest expense	0	0
Total benefits and expenses	(2,186)	(2,270)
Subtotal	2,187	2,270
Measure of segment profitability (pretax)	2,187	2,270
Operating Segments | Investment
Revenue:
Premium	0	0
Net investment income	235,820	228,991
Other income	0	0
Total revenue	235,820	228,991
Expenses:
Policy benefits	0	0
Required interest on reserves	214,925	204,171
Required interest on DAC	(60,827)	(58,725)
Amortization of acquisition costs	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0
Insurance administrative expense	0	0
Parent expense	0	0
Stock-based compensation expense	0	0
Interest expense	21,178	20,808
Total benefits and expenses	175,276	166,254
Subtotal	60,544	62,737
Measure of segment profitability (pretax)	60,544	62,737
Corporate & Other
Revenue:
Premium	0	0
Net investment income	0	0
Other income	295	325
Total revenue	295	325
Expenses:
Policy benefits	0	0
Required interest on reserves	0	0
Required interest on DAC	0	0
Amortization of acquisition costs	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0
Insurance administrative expense	66,176	63,620
Parent expense	2,318	2,331
Stock-based compensation expense	7,888	9,356
Interest expense	0	0
Total benefits and expenses	76,382	75,307
Subtotal	(76,087)	(74,982)
Measure of segment profitability (pretax)	(76,087)	(74,982)
Adjustments
Revenue:
Premium	0	0
Net investment income	0	0
Other income	0	0
Total revenue	0	0
Expenses:
Policy benefits	0	0
Required interest on reserves	0	0
Required interest on DAC	0	0
Amortization of acquisition costs	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0
Insurance administrative expense	4,828	3,275
Parent expense		0
Stock-based compensation expense	0	0
Interest expense	0	0
Total benefits and expenses	4,828	3,275
Subtotal	(4,828)	(3,275)
Non-operating items	4,828	3,275
Measure of segment profitability (pretax)	$ 0	$ 0

Uncategorized Items - gl-202103

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member