Protective Life (PLPDZ) 10-K 5 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 01, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	PROTECTIVE LIFE CORP
Entity Central Index Key	355,429
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		1,000
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and policy fees	$ 971,629	$ 878,182	$ 941,868	$ 889,166	$ 893,606	$ 855,088	$ 868,139	$ 860,586	$ 3,680,845	$ 3,477,419	$ 3,407,931
Reinsurance ceded	(379,242)	(269,335)	(390,941)	(345,423)	(376,641)	(325,120)	(342,898)	(316,076)	(1,384,941)	(1,360,735)	(1,314,716)
Net of reinsurance ceded	592,387	608,847	550,927	543,743	516,965	529,968	525,241	544,510	2,295,904	2,116,684	2,093,215
Net investment income	674,286	672,139	616,462	520,863	529,490	507,914	507,771	506,413	2,483,750	2,051,588	1,942,456
Realized investment gains (losses):
Derivative financial instruments									60,988	(305,828)	(40,288)
All other investments									(223,649)	121,428	90,659
Other-than-temporary impairment losses									(56,578)	(3,962)	(32,075)
Portion recognized in other comprehensive income (before taxes)									26,854	(7,780)	14,327
Net impairment losses recognized in earnings	(26,060)	(14)	(5)	(3,645)	(853)	(273)	(2,785)	(7,831)	(29,724)	(11,742)	(17,748)
Other income	111,883	113,530	113,861	114,411	115,139	110,970	111,311	109,242	453,685	446,662	415,653
Total revenues	1,284,046	1,347,168	1,243,908	1,165,832	1,142,040	1,084,388	1,087,067	1,105,297	5,040,954	4,418,792	4,483,947
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (2018 - $1,191,978; 2017 - $1,242,797; 2016 - $1,181,960)									3,515,869	2,957,270	2,880,435
Amortization of deferred policy acquisition costs and value of business acquired									225,808	78,221	149,064
Other operating expenses, net of reinsurance ceded: (2018 - $205,352; 2017 - $222,963; 2016 - $207,197)									916,259	948,244	860,451
Total benefits and expenses	1,228,317	1,210,449	1,145,136	1,074,034	1,055,950	973,538	961,299	992,948	4,657,936	3,983,735	3,889,950
Income before income tax	55,729	136,719	98,772	91,798	86,090	110,850	125,768	112,349	383,018	435,057	593,997
Income tax (benefit) expense
Current									95,561	26,252	(46,719)
Deferred									(14,904)	(697,727)	247,687
Total income tax expense (benefit)	19,075	26,619	17,277	17,686	(778,218)	28,308	41,500	36,935	80,657	(671,475)	200,968
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414	$ 302,361	$ 1,106,532	$ 393,029

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Benefits and settlement expenses, reinsurance ceded	$ 1,191,978	$ 1,242,797	$ 1,181,960
Other operating expenses, reinsurance ceded	$ 205,352	$ 222,963	$ 207,197

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 302,361	$ 1,106,532	$ 393,029
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax: (2018 - $(377,412); 2017 - $332,896; 2016 - $324,267)	(1,420,499)	707,298	602,211
Reclassification adjustment for investment amounts included in net income, net of income tax: (2018 - $4,161; 2017 - $489; 2016 - $(5,094))	15,651	642	(9,460)
Change in net unrealized (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(5,516); 2017 - $761; 2016 - $(1,081))	(20,751)	391	(2,008)
Change in accumulated (loss) gain—derivatives, net of income tax: (2018 - $(501); 2017 - $(303); 2016 - $370)	(1,884)	(563)	688
Reclassification adjustment for derivative amounts included in net income, net of income tax: (2018 - $301; 2017 - $243; 2016 - $21)	1,130	451	39
Change in postretirement benefits liability adjustment, net of income tax: (2018 - $(414); 2017 - $(4,047); 2016 - $(2,616))	(1,557)	(15,225)	(4,859)
Total other comprehensive income (loss)	(1,427,910)	692,994	586,611
Total comprehensive income (loss)	$ (1,125,549)	$ 1,799,526	$ 979,640

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Change in net unrealized gains (losses) on investments, income tax	$ (377,412)	$ 332,896	$ 324,267
Reclassification adjustment for investment amounts included in net income, income tax	4,161	489	(5,094)
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(5,516)	761	(1,081)
Change in accumulated (loss) gain - derivatives, income tax	(501)	(303)	370
Reclassification adjustment for derivative amounts included in net income, income tax	301	243	21
Change in postretirement benefits liability adjustment, income tax	$ (414)	$ (4,047)	$ (2,616)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Fixed maturities, at fair value (amortized cost: 2018 - $54,466,305; 2017 - $41,153,551)	$ 51,904,699	$ 41,176,052
Fixed maturities, at amortized cost (fair value: 2018 - $2,547,210; 2017 - $2,776,327)	2,633,474	2,718,904
Equity securities, at fair value (cost: 2018 - $627,087; 2017 - $740,813)	595,884	754,360
Mortgage loans (related to securitizations: 2018 - $134; 2017 - $226,409)	7,724,733	6,817,723
Investment real estate, net of accumulated depreciation (2018 - $251; 2017 - $132)	6,816	8,355
Policy loans	1,695,886	1,615,615
Other long-term investments	759,354	915,595
Short-term investments	807,283	615,210
Total investments	66,128,129	54,621,814
Cash	173,714	252,310
Accrued investment income	634,921	491,802
Accounts and premiums receivable	113,507	124,934
Reinsurance receivables	4,764,743	5,075,698
Deferred policy acquisition costs and value of business acquired	3,023,154	2,199,577
Goodwill	825,511	793,470
Other intangibles, net of accumulated amortization (2018 - $197,583; 2017 - $140,368)	613,431	663,572
Property and equipment, net of accumulated depreciation (2018 - $33,199; 2017 - $22,926)	184,957	111,417
Other assets	250,036	227,357
Income tax receivable	0	76,543
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets	89,938,754	79,629,767
Liabilities
Future policy benefits and claims	41,901,552	30,957,592
Unearned premiums	872,594	875,405
Total policy liabilities and accruals	42,774,146	31,832,997
Stable value product account balances	5,234,731	4,698,371
Annuity account balances	13,720,081	10,921,190
Other policyholders’ funds	1,128,379	1,267,198
Other liabilities	2,374,112	2,353,565
Income tax payable	38,547	0
Deferred income taxes	839,316	1,232,407
Non-recourse funding obligations	2,632,497	2,747,477
Secured financing liabilities	495,307	1,017,749
Debt	1,101,827	945,052
Subordinated debt	605,426	495,289
Liabilities related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total liabilities	84,171,020	72,502,568
Commitments and contingencies—Note 15
Shareowner’s equity
Common Stock, 2018 and 2017 - $.01 par value; shares authorized: 5,000; shares issued: 1,000	0	0
Additional paid-in-capital	5,554,059	5,554,059
Retained earnings	1,639,441	1,560,444
Accumulated other comprehensive income (loss):
Net unrealized gains (losses) on investments, net of income tax: (2018 - $(368,830); 2017 - $7,416)	(1,387,504)	27,896
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(6,054); 2017 - $(538))	(22,773)	(2,022)
Accumulated (loss) gain - derivatives, net of income tax: (2018 - $(2); 2017 - $198)	(7)	747
Postretirement benefits liability adjustment, net of income tax: (2018 - $(4,112); 2017 - $(3,469))	(15,482)	(13,925)
Total shareowner’s equity	5,767,734	7,127,199
Total liabilities and shareowner’s equity	$ 89,938,754	$ 79,629,767

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fixed maturities at fair value, amortized cost	$ 54,466,305	$ 41,153,551
Fixed maturities at amortized cost, fair value	2,547,210	2,776,327
Equity securities, cost	627,087	740,813
Mortgage loans, related to securitizations	134	226,409
Investment real estate, accumulated depreciation	251	132
Other intangibles, accumulated depreciation	197,583	140,368
Property and equipment, accumulated depreciation	$ 33,199	$ 22,926
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	5,000	5,000
Common Stock, shares issued (in shares)	1,000	1,000
Net unrealized gains (losses) on investments, income tax	$ (368,830)	$ 7,416
Net unrealized (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(6,054)	(538)
Accumulated loss - derivatives, income tax	(2)	198
Postretirement benefits liability adjustment, income tax	$ (4,112)	$ (3,469)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREOWNER'S EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In- Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2015	$ 4,581,224	$ 0	$ 5,554,059	$ 0	$ 268,299	$ (1,241,134)
Increase (decrease) in shareowner's equity
Net income	393,029				393,029
Other comprehensive income (loss)	586,611					586,611
Total comprehensive income (loss)	979,640
Dividends to parent	(89,343)				(89,343)
Ending Balance at Dec. 31, 2016	5,471,521	0	5,554,059	0	571,985	(654,523)
Increase (decrease) in shareowner's equity
Net income	1,106,532				1,106,532
Other comprehensive income (loss)	692,994					692,994
Total comprehensive income (loss)	1,799,526
Cumulative effect adjustments	0				25,775	(25,775)
Dividends to parent	(143,848)				(143,848)
Ending Balance at Dec. 31, 2017	7,127,199	0	5,554,059	0	1,560,444	12,696
Increase (decrease) in shareowner's equity
Net income	302,361				302,361
Other comprehensive income (loss)	(1,427,910)					(1,427,910)
Total comprehensive income (loss)	(1,125,549)
Cumulative effect adjustments						(10,552)
Dividends to parent	(140,000)				(140,000)
Ending Balance at Dec. 31, 2018	$ 5,767,734	$ 0	$ 5,554,059	$ 0	$ 1,639,441	$ (1,425,766)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income	$ 302,361	$ 1,106,532	$ 393,029
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment (gains) losses	192,385	196,142	(32,623)
Amortization of deferred policy acquisition costs and value of business acquired	225,808	78,221	149,064
Capitalization of deferred policy acquisition costs	(446,469)	(333,252)	(327,938)
Depreciation and amortization expense	67,902	62,609	37,504
Deferred income tax	(14,904)	(697,727)	247,687
Accrued income tax	115,090	40,280	(162,619)
Interest credited to universal life and investment products	882,904	692,993	699,227
Policy fees assessed on universal life and investment products	(1,558,868)	(1,354,685)	(1,262,166)
Change in reinsurance receivables	311,227	248,148	222,302
Change in accrued investment income and other receivables	5,731	(6,643)	(36,360)
Change in policy liabilities and other policyholders’ funds of traditional life and health products	(618,550)	(294,205)	(208,075)
Trading securities:
Maturities and principal reductions of investments	155,692	165,575	154,633
Sale of investments	493,141	281,441	459,802
Cost of investments acquired	(589,379)	(355,410)	(532,429)
Other net change in trading securities	38,346	9,151	22,427
Amortization of premiums and accretion of discounts on investments and mortgage loans	307,918	319,582	375,044
Change in other liabilities	33,980	138,304	132,220
Other, net	(48,444)	(101,784)	(81,091)
Net cash (used in) provided by operating activities	(144,129)	195,272	249,638
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale	1,868,245	696,574	1,299,753
Sale of investments, available-for-sale	2,576,119	1,802,215	1,956,302
Cost of investments acquired, available-for-sale	(5,577,921)	(4,029,233)	(4,982,907)
Change in investments, held-to-maturity	81,000	47,000	(2,181,000)
Mortgage loans:
New lendings	(1,589,459)	(1,671,929)	(1,396,283)
Repayments	1,068,552	923,347	863,873
Change in investment real estate, net	978	(104)	2,851
Change in policy loans, net	51,218	34,625	49,268
Change in other long-term investments, net	(168,897)	(91,518)	(250,557)
Change in short-term investments, net	(217,300)	(279,191)	(72,810)
Net unsettled security transactions	13,384	(19,023)	28,853
Purchase of property and equipment	(92,269)	(37,533)	(5,295)
Cash received from or paid for acquisitions, net of cash acquired	38,456	0	320,967
Net cash used in investing activities	(1,947,894)	(2,624,770)	(4,366,985)
Cash flows from financing activities
Borrowings under line of credit arrangements and debt	1,075,000	1,035,000	265,000
Principal payments on line of credit arrangement and debt	(757,884)	(1,156,498)	(633,074)
Issuance (repayment) of non-recourse funding obligations	(119,000)	(47,000)	2,094,700
Secured financing liabilities	(522,442)
Secured financing liabilities		220,028	359,536
Dividends to shareowner	(140,000)	(143,848)	(89,343)
Investment product and universal life deposits	5,622,414	4,683,121	4,393,596
Investment product and universal life withdrawals	(3,144,273)	(2,256,981)	(2,320,958)
Other financing activities, net	(388)	(196)	0
Net cash provided by financing activities	2,013,427	2,333,626	4,069,457
Change in cash	(78,596)	(95,872)	(47,890)
Cash at beginning of period	252,310	348,182	396,072
Cash at end of period	$ 173,714	$ 252,310	$ 348,182

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation On February 1, 2015, Protective Life Corporation (the “Company”) became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Limited, a kabushiki kaisha organized under the laws of Japan (now known as Dai-ichi Life Holdings, Inc., “Dai-ichi Life”), when DL Investment (Delaware), Inc. a wholly owned subsidiary of Dai-ichi Life, merged with and into the Company. Prior to February 1, 2015, the Company’s stock was publicly traded on the New York Stock Exchange. Subsequent to the Merger date, the Company remains as an SEC registrant within the United States. The Company is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The Company also maintains a separate segment devoted to the acquisition of insurance policies from other companies. Founded in 1907, Protective Life Insurance Company (“PLICO”) is the Company’s largest operating subsidiary. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such accounting principles differ from statutory reporting practices used by insurance companies in reporting to state regulatory authorities (see also Note 21, Statutory Reporting Practices and Other Regulatory Matters ). The operating results of companies in the insurance industry have historically been subject to significant fluctuations due to changing competition, economic conditions, interest rates, investment performance, insurance ratings, claims, persistency, and other factors. Entities Included The consolidated financial statements include the accounts of Protective Life Corporation and subsidiaries and its affiliate companies in which the Company holds a majority voting or economic interest. Intercompany balances and transactions have been eliminated. During the fourth quarter of 2018, the Company recorded an adjustment related to prior periods to correct an error pertaining to the tax deductibility of certain deferred compensation following the Dai-ichi acquisition and application of purchase accounting in 2015. The adjustment resulted in a $32.0 million increase to goodwill, with a corresponding increase in the deferred tax liability for $21.3 million and a decrease in deferred income tax expense for $10.7 million . The Company concluded that the adjustment was not quantitatively or qualitatively material to previously reported annual or interim periods or the current interim period. As a result, this adjustment was recorded by the Company within the presented annual consolidated financial statements for the year ended December 31, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization periods, goodwill recoverability, value of business acquired (“VOBA”), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters. Significant Accounting Policies Valuation of Investment Securities The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations (“CMOs”), and mortgage-backed securities (“MBS”) are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures (“CUSIP”) level on a first in first out basis. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded. Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company’s intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security’s amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company’s expectations for recovery of the security’s entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security’s basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than-temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security’s amortized cost are written down to discounted expected future cash flows (“post impairment cost”) and credit losses are recorded in earnings. The difference between the securities’ discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings. Cash Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank at certain reporting dates. Such negative balances are included in other liabilities and were $153.3 million as of December 31, 2018 and $132.7 million as of December 31, 2017 , respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss. Deferred Policy Acquisition Costs The incremental direct costs associated with successfully acquired insurance policies, are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization. The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 7.1% ) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method. Value of Businesses Acquired In conjunction with the Merger and the acquisition of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flows and earnings of associated insurance policies and investment contracts. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from associated insurance policies and investment contracts acquired. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins (“EGMs”) for participating traditional life products within the MONY Life Insurance Company (“MONY”) block. For interest sensitive products, the Company uses various amortization bases including expected gross profits (“EGPs”), revenues, account values, or insurance in-force. VOBA is subject to annual recoverability testing. Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, technology, and software. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Software is generally amortized over a three year useful life. Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,928 35,914 Total intangible assets subject to amortization 581,431 631,572 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 613,431 $ 663,572 Identified intangible assets were valued using the excess earnings method, relief from royalty method or cost approach, as appropriate. Amortizable intangible assets will be amortized straight line over their assigned useful lives. The following is a schedule of future estimated aggregate amortization expense: Year Amount (Dollars In Thousands) 2019 $ 55,299 2020 52,298 2021 49,693 2022 46,435 2023 45,135 Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value as of the Merger date and will be depreciated from this basis in future periods based on the respective estimated useful lives. Real estate assets were recorded at appraised values as of the acquisition date. The Company has estimated the remaining useful life of the home office building to be 25 years. Land is not depreciated. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and computers are depreciated over a four year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income. Property and equipment consisted of the following: As of December 31, 2018 2017 (Dollars In Thousands) Home office building $ 144,669 $ 68,123 Data processing equipment 28,793 24,102 Other, principally furniture and equipment 19,774 17,198 Total property and equipment subject to depreciation 193,236 109,423 Accumulated depreciation (33,199 ) (22,926 ) Land 24,920 24,920 Total property and equipment $ 184,957 $ 111,417 Separate Accounts The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder’s equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income. Stable Value Product Account Balances The Stable Value Products segment sells fixed and floating rate funding agreements directly to qualified institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank (“FHLB”), and markets guaranteed investment contracts (“GICs”) to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. The Company records its stable value contract liabilities in the consolidated balance sheets in “stable value product account balances” at the deposit amount plus accrued interest, adjusted for any unamortized premium or discount. Interest on the contracts is accrued based upon contract terms. Any premium or discount is amortized using the effective yield method. The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of PLICO as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued. As of December 31, 2018 and December 31, 2017 , the Company had $4,083.8 million and $3,337.9 million , respectively, of stable value product account balances marketed through structured programs. Most GICs and funding agreements the Company has written have maturities of one to twelve years . As of December 31, 2018 , future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2019 $ 1,253.9 2020 - 2021 3,042.5 2022 - 2023 818.7 Thereafter 118.7 Derivative Financial Instruments The Company records its derivative financial instruments in the consolidated balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the statement of other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses)—Derivative financial instruments”. For additional information, see Note 7, Derivative Financial Instruments . Insurance Liabilities and Reserves Establishing an adequate liability for the Company’s obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company’s historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company’s property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company’s results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company’s reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments. Guaranteed Living Withdrawal Benefits The Company also establishes reserves for guaranteed living withdrawal benefits (“GLWB”) on its variable annuity (“VA”) products. The GLWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current interest rates and implied volatilities for the equity indices. The fair value of the GLWB is impacted by equity market conditions and can result in the GLWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GLWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GLWB embedded derivative liability. The methods used to estimate the embedded derivative employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the Ruark 2015 ALB table adjusted for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. As of December 31, 2018 and 2017, our net GLWB liability held was $184.1 million and $111.8 million , respectively. Goodwill The balance recognized as goodwill is not amortized, but is reviewed for impairment on an annual basis, or more frequently as events or circumstances may warrant, including those circumstances which would more likely than not reduce the fair value of the Company’s reporting units below its carrying amount. Accounting for goodwill requires an estimate of the future profitability of the associated lines of business within the Company’s operating segments to assess the recoverability of the capitalized goodwill. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If the qualitative analysis does not indicate that an impairment of segment goodwill is more likely than not then no other specific quantitative impairment testing is required. If it is determined that it is more likely than not that impairment exists, the Company performs a quantitative assessment and compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The cash flows used to determine the fair value of the Company’s reporting units are dependent on a number of significant assumptions. The Company’s estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions. Income Taxes The Company and its subsidiaries file a consolidated federal income tax return that includes both life insurance companies and non-life insurance companies. The Company has one life insurance subsidiary that is not eligible to be included in the consolidated federal income tax return and files a separate corporate tax return. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "Tax Reform Act"). Further information on the tax impacts of the Tax Reform Act is included in Note 18, Income Taxes . The Company uses the asset and liability method of accounting for income taxes. Generally, most items in pretax book income are also included in taxable income in the same year. However, some items are recognized for book purposes and for tax purposes in different years or are never recognized for either book or tax purposes. Those differences that will never be recognized for either book or tax purposes are permanent differences (e.g., the dividends-received deduction). As a result, the effective tax rate reflected in the financial statements may differ from the statutory rate reflected in the tax return. Those differences that are reported in different years for book and tax purposes are temporary and will reverse over time (e.g., the valuation of future policy benefits). These temporary differences are accounted for in the intervening periods as deferred tax assets and liabilities. Deferred tax assets generally represent revenue that is taxable before it is recognized in financial income and expenses that are deductible after they are recognized in financial income. Deferred tax liabilities generally represent revenues that are taxable after they are recognized in financial income or expenses or losses that are deductible before they are recognized in financial income. Components of accumulated other comprehensive income (loss) (“AOCI”) are presented net of tax, and it is the Company’s policy to use the aggregate portfolio approach to clear the disproportionate tax effects that remain in AOCI as a result of tax rate changes and certain other events. Under the aggregate portfolio approach, disproportionate tax effects are cleared only when the portfolio of investments that gave rise to the deferred tax item is sold or otherwise disposed of in its entirety. The application of GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance, if necessary, to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance the Company may consider many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process, the first step being recognition. The Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes the liability for unrecognized tax benefits, interest and penalties which relate to tax years still subject to review by the Internal Revenue Service (“IRS”) or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations expires. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards, the statute of limitations does not close until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense. See Note 18, Income Taxes, for additional information regarding income taxes. Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available for sale, or held to maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity (“VIE”). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. For more information on the Company’s investment in a VIE refer to Note 5, Investment Operations, to the consolidated financial statements. Policyholder Liabilities, Revenues, and Benefits Expense Future Policy Benefits and Claims Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,582,850 $ 3,898,079 Unpaid life claim liabilities 654,077 595,188 383,376 362,827 Life and annuity future policy benefits 41,537,306 30,568,126 3,966,226 4,260,906 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 221,391 232,365 176,155 185,826 Future policy benefits and claims and associated reinsurance receivable $ 41,901,552 $ 30,957,592 $ 4,223,069 $ 4,539,062 Unearned premiums 872,594 875,405 541,674 536,636 Total policy liabilities and accruals and associated reinsurance receivable $ 42,774,146 $ 31,832,997 $ 4,764,743 $ 5,075,698 Liabilities for life and annuity benefit reserves consist of liabilities for traditional life insurance, cash values associated with universal life insurance, immediate annuity benefit reserves, and other benefits associated with life and annuity benefits. The unpaid life claim liabilities consist of current pending claims as well as an estimate of incurred but not reported life insurance claims. Other policy benefit reserves consist of certain health

SIGNIFICANT TRANSACTIONS

SIGNIFICANT TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
Insurance [Abstract]
SIGNIFICANT TRANSACTIONS	SIGNIFICANT TRANSACTIONS On May 1, 2018, The Lincoln National Life Insurance Company (“Lincoln Life”) completed the acquisition (the “Closing”) of Liberty Mutual Group Inc.’s (“Liberty Mutual”) Group Benefits Business and Individual Life and Annuity Business (the “Life Business”) through the acquisition of all of the issued and outstanding capital stock of Liberty Life Assurance Company of Boston (“Liberty”). In connection with the Closing and pursuant to the Master Transaction Agreement, dated January 18, 2018 (the “Master Transaction Agreement”) PLICO and Protective Life and Annuity Insurance Company (“PLAIC”), a wholly owned subsidiary of PLICO, entered into reinsurance agreements (the “Reinsurance Agreements”) and related ancillary documents (including administrative services agreements and transition services agreements) providing for the reinsurance and administration of the Life Business. Pursuant to the Reinsurance Agreements, Liberty ceded to PLICO and PLAIC the insurance policies related to the Life Business on a 100% coinsurance basis. The aggregate ceding commission for the reinsurance of the Life Business was $422.4 million , which is the purchase price. Other than cash received as part of the acquired Liberty investment portfolio as reflected in “amounts received from reinsurance transaction” in the Consolidated Condensed Statement of Cash Flows and as reflected in the table below, this was a non-cash transaction. All policies issued in states other than New York were ceded to PLICO under a reinsurance agreement between Liberty and PLICO, and all policies issued in New York were ceded to PLAIC under a reinsurance agreement between Liberty and PLAIC. The aggregate statutory reserves of Liberty ceded to PLICO and PLAIC as of the closing of the Transaction were approximately $13.2 billion , which amount was based on initial estimates and is subject to adjustment following the Closing. Pursuant to the terms of the Reinsurance Agreements, each of PLICO and PLAIC are required to maintain assets in trust for the benefit of Liberty to secure their respective obligations to Liberty under the Reinsurance Agreements. The trust accounts were initially funded by each of PLICO and PLAIC principally with the investment assets that were received from Liberty. Additionally, PLICO and PLAIC have each agreed to provide, on behalf of Liberty, administration and policyholder servicing of the Life Business reinsured by it pursuant to administrative services agreements between Liberty and each of PLICO and PLAIC. The terms of the Reinsurance Agreements resulted in an acquisition of the Life Business by the Company in accordance with ASC Topic 805, Business Combinations . The following table details the purchase consideration and preliminary allocation of assets acquired and liabilities assumed from the Life Business reinsurance transaction as of the transaction date. These estimates remain preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition. Fair Value As of May 1, 2018 (Dollars in Thousands) Assets Fixed maturities $ 12,588,512 Mortgage loans 435,405 Policy loans 131,489 Total investments 13,155,406 Cash 38,456 Accrued investment income 152,030 Reinsurance receivables 272 Value of business acquired 336,862 Other assets 916 Total assets 13,683,942 Liabilities Future policy benefits and claims $ 11,747,501 Unearned premiums — Total policy liabilities and accruals 11,747,501 Annuity account balances 1,823,444 Other policyholders’ funds 41,936 Other liabilities 71,061 Total liabilities 13,683,942 Net assets acquired $ — The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Life Business were completed as of January 1, 2017. The unaudited pro forma condensed results of operations are presented solely for information purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated: Unaudited For The Year Ended December 31, 2018 For The Year Ended December 31, 2017 (Dollars In Thousands) Revenue $ 5,364,693 $ 5,654,257 Net income $ 348,505 $ 1,233,991 The amount of revenue and income before income tax of the Life Business since the transaction date, May 1, 2018, included in the consolidated statements of income for the year ended December 31, 2018, amounted to $578.0 million and $49.8 million . Also, included in the income before income tax for the year ended December 31, 2018, is approximately $5.5 million of non-recurring transaction costs.

MONY CLOSED BLOCK OF BUSINESS

MONY CLOSED BLOCK OF BUSINESS	12 Months Ended
	Dec. 31, 2018
Closed Block Disclosure [Abstract]
MONY CLOSED BLOCK OF BUSINESS	MONY CLOSED BLOCK OF BUSINESS In 1998, MONY Life Insurance Company (“MONY”) converted from a mutual insurance company to a stock corporation (“demutualization”). In connection with its demutualization, an accounting mechanism known as a closed block (the “Closed Block”) was established for certain individuals’ participating policies in force as of the date of demutualization. Assets, liabilities, and earnings of the Closed Block are specifically identified to support its participating policyholders. The Company acquired the Closed Block in conjunction with the acquisition of MONY in 2013. Assets allocated to the Closed Block inure solely to the benefit of each Closed Block’s policyholders and will not revert to the benefit of MONY or the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of MONY’s general account, any of MONY’s separate accounts or any affiliate of MONY without the approval of the Superintendent of The New York State Department of Financial Services (the “Superintendent”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the general account. The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) at the acquisition date of October 1, 2013, represented the estimated maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. In connection with the acquisition of MONY, the Company developed an actuarial calculation of the expected timing of MONY’s Closed Block’s earnings as of October 1, 2013. Pursuant to the acquisition of the Company by Dai-ichi Life, this actuarial calculation of the expected timing of MONY’s Closed Block earnings was recalculated and reset as February 1, 2015, along with the establishment of a policyholder dividend obligation as of such date. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in the Company’s net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of VOBA, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Closed Block as of December 31, 2018 and December 31, 2017 and is as follows: As of December 31, 2018 2017 (Dollars In Thousands) Closed block liabilities Future policy benefits, policyholders’ account balances and other policyholder liabilities $ 5,679,732 $ 5,791,867 Policyholder dividend obligation — 160,712 Other liabilities 22,505 30,764 Total closed block liabilities 5,702,237 5,983,343 Closed block assets Fixed maturities, available-for-sale, at fair value 4,257,437 4,669,856 Mortgage loans on real estate 75,838 108,934 Policy loans 672,213 700,769 Cash and other invested assets 116,225 31,182 Other assets 136,388 122,637 Total closed block assets 5,258,101 5,633,378 Excess of reported closed block liabilities over closed block assets 444,136 349,965 Portion of above representing accumulated other comprehensive income: Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820 (120,528 ) — Future earnings to be recognized from closed block assets and closed block liabilities $ 323,608 $ 349,965 Reconciliation of the policyholder dividend obligation is as follows: For The Year Ended December 31, 2018 2017 (Dollars In Thousands) Policyholder dividend obligation, beginning balance $ 160,712 $ 31,932 Applicable to net revenue (losses) (33,014 ) (55,241 ) Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation (127,698 ) 184,021 Policyholder dividend obligation, ending balance $ — $ 160,712 Closed Block revenues and expenses were as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Premiums and other income $ 171,117 $ 180,097 $ 189,700 Net investment income 202,282 203,964 211,175 Net investment gains (1,970 ) 910 1,524 Total revenues 371,429 384,971 402,399 Benefits and other deductions Benefits and settlement expenses 337,352 335,200 353,488 Other operating expenses 714 1,940 2,804 Total benefits and other deductions 338,066 337,140 356,292 Net revenues before income taxes 33,363 47,831 46,107 Income tax expense 7,006 27,718 16,137 Net revenues $ 26,357 $ 20,113 $ 29,970

INVESTMENT OPERATIONS

INVESTMENT OPERATIONS	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENT OPERATIONS	INVESTMENT OPERATIONS Major categories of net investment income are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 2,051,505 $ 1,631,565 $ 1,552,999 Equity securities 35,299 39,806 38,838 Mortgage loans 322,207 298,387 270,749 Investment real estate 1,888 2,481 2,153 Short-term investments 102,857 108,476 106,828 2,513,756 2,080,715 1,971,567 Investment expenses 30,006 29,127 29,111 Net investment income $ 2,483,750 $ 2,051,588 $ 1,942,456 Net realized investment gains (losses) for all other investments are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 9,912 $ 12,941 $ 32,210 Equity gains and losses (1) (48,964 ) (2,330 ) 92 Impairments (29,724 ) (11,742 ) (17,748 ) Modco trading portfolio (185,900 ) 119,206 67,583 Other investments 1,303 (8,389 ) (9,226 ) Total realized gains (losses) - investments $ (253,373 ) $ 109,686 $ 72,911 (1) Beginning January 1, 2018, all changes in the fair market value of equity securities are recorded as a realized gain (loss) as a result of the adoption of ASU No. 2016-01. Gross realized gains and gross realized losses on investments available-for-sale (fixed maturities and short-term investments) are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Gross realized gains $ 28,095 $ 18,868 $ 42,085 Gross realized losses: Impairments losses $ (29,724 ) $ (11,742 ) $ (17,748 ) Other realized losses $ (18,183 ) $ (8,257 ) $ (9,783 ) The chart below summarizes the fair value (proceeds) and the gains/losses realized on securities the Company sold that were in an unrealized gain position and an unrealized loss position. For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Securities in an unrealized gain position: Fair value (proceeds) $ 1,300,866 $ 879,181 $ 1,198,333 Gains realized $ 28,095 $ 18,868 $ 42,085 Securities in an unrealized loss position (1) : Fair value (proceeds) $ 472,371 $ 185,157 $ 85,835 Losses realized $ (18,183 ) $ (8,257 ) $ (9,783 ) (1) The Company made the decision to exit these holdings in conjunction with its overall asset liability management process. The chart below summarizes the realized gains (losses) on equity securities sold during the period and equity securities still held at the reporting date. For The Year Ended December 31, 2018 (Dollars In Thousands) Net gains (losses) recognized during the period on equity securities $ (48,964 ) Less: net gains (losses) recognized on equity securities sold during the period $ (6,165 ) Gains (losses) recognized during the period on equity securities still held $ (42,799 ) The amortized cost and fair value of the Company’s investments classified as available-for-sale are as follows: As of December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 3,650,539 $ 23,247 $ (62,196 ) $ 3,611,590 $ (18 ) Commercial mortgage-backed securities 2,349,274 3,911 (58,101 ) 2,295,084 — Other asset-backed securities 1,410,059 17,232 (35,398 ) 1,391,893 — U.S. government-related securities 1,683,432 1,795 (45,722 ) 1,639,505 — Other government-related securities 545,522 4,292 (33,850 ) 515,964 — States, municipals, and political subdivisions 3,682,037 25,706 (118,902 ) 3,588,841 876 Corporate securities 38,634,888 112,992 (2,385,052 ) 36,362,828 (29,685 ) Redeemable preferred stock 94,362 — (11,560 ) 82,802 — 52,050,113 189,175 (2,750,781 ) 49,488,507 (28,827 ) Short-term investments 776,357 — — 776,357 — $ 52,826,470 $ 189,175 $ (2,750,781 ) $ 50,264,864 $ (28,827 ) As of December 31, 2017 Fixed maturities: Residential mortgage-backed securities $ 2,330,832 $ 19,413 $ (23,033 ) $ 2,327,212 $ 41 Commercial mortgage-backed securities 1,914,998 5,010 (30,186 ) 1,889,822 — Other asset-backed securities 1,234,376 20,936 (5,763 ) 1,249,549 — U.S. government-related securities 1,255,244 185 (32,177 ) 1,223,252 — Other government-related securities 282,767 9,463 (4,948 ) 287,282 — States, municipals, and political subdivisions 1,770,299 16,959 (45,613 ) 1,741,645 (37 ) Corporate securities 29,606,484 623,713 (528,187 ) 29,702,010 (2,564 ) Redeemable preferred stock 94,362 232 (3,503 ) 91,091 — 38,489,362 695,911 (673,410 ) 38,511,863 (2,560 ) Equity securities 735,569 22,318 (8,771 ) 749,116 — Short-term investments 558,949 — — 558,949 — $ 39,783,880 $ 718,229 $ (682,181 ) $ 39,819,928 $ (2,560 ) (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above. The Company holds certain investments pursuant to certain modified coinsurance (“Modco”) arrangements. The fixed maturities held as part of these arrangements are classified as trading securities. The fair value of the investments held pursuant to these Modco arrangements are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 241,836 $ 259,694 Commercial mortgage-backed securities 188,925 146,804 Other asset-backed securities 159,907 138,097 U.S. government-related securities 59,794 27,234 Other government-related securities 44,207 63,925 States, municipals, and political subdivisions 286,413 326,925 Corporate securities 1,423,833 1,698,183 Redeemable preferred stock 11,277 3,327 2,416,192 2,664,189 Equity securities 9,892 5,244 Short-term investments 30,926 56,261 $ 2,457,010 $ 2,725,694 The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2018 , by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment. Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ 1,146,730 $ 1,142,140 $ — $ — Due after one year through five years 9,272,731 9,120,056 — — Due after five years through ten years 9,200,724 8,947,546 — — Due after ten years 32,429,928 30,278,765 2,633,474 2,547,210 $ 52,050,113 $ 49,488,507 $ 2,633,474 $ 2,547,210 The chart below summarizes the Company’s other-than-temporary impairments of investments. All of the impairments were related to fixed maturities or equity securities. Fixed Maturities Equity Securities Total Securities (Dollars In Thousands) For The Year Ended December 31, 2018 Other-than-temporary impairments $ (56,578 ) $ — $ (56,578 ) Non-credit impairment losses recorded in other comprehensive income 26,854 — 26,854 Net impairment losses recognized in earnings $ (29,724 ) $ — $ (29,724 ) For The Year Ended December 31, 2017 Other-than-temporary impairments $ (1,332 ) $ (2,630 ) $ (3,962 ) Non-credit impairment losses recorded in other comprehensive income (7,780 ) — (7,780 ) Net impairment losses recognized in earnings $ (9,112 ) $ (2,630 ) $ (11,742 ) For The Year Ended December 31, 2016 Other-than-temporary impairments $ (32,075 ) $ — $ (32,075 ) Non-credit impairment losses recorded in other comprehensive income 14,327 — 14,327 Net impairment losses recognized in earnings $ (17,748 ) $ — $ (17,748 ) There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the years ended December 31, 2018 , 2017, and 2016. The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss): For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 3,268 $ 12,685 $ 22,761 Additions for newly impaired securities 24,858 734 14,876 Additions for previously impaired securities 12 3,175 2,063 Reductions for previously impaired securities due to a change in expected cash flows — (12,726 ) (24,396 ) Reductions for previously impaired securities that were sold in the current period (3,270 ) (600 ) (2,619 ) Other — — — Ending balance $ 24,868 $ 3,268 $ 12,685 The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2018 : Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 1,485,009 $ (31,302 ) $ 804,364 $ (30,894 ) $ 2,289,373 $ (62,196 ) Commercial mortgage-backed securities 422,438 (7,442 ) 1,429,384 (50,659 ) 1,851,822 (58,101 ) Other asset-backed securities 687,271 (30,963 ) 148,871 (4,435 ) 836,142 (35,398 ) U.S. government-related securities 130,290 (4,668 ) 1,085,654 (41,054 ) 1,215,944 (45,722 ) Other government-related securities 226,201 (15,267 ) 131,569 (18,583 ) 357,770 (33,850 ) States, municipalities, and political subdivisions 1,004,262 (27,180 ) 1,129,152 (91,722 ) 2,133,414 (118,902 ) Corporate securities 18,326,331 (970,553 ) 12,859,732 (1,414,499 ) 31,186,063 (2,385,052 ) Redeemable preferred stock 41,147 (4,467 ) 41,655 (7,093 ) 82,802 (11,560 ) $ 22,322,949 $ (1,091,842 ) $ 17,630,381 $ (1,658,939 ) $ 39,953,330 $ (2,750,781 ) RMBS and CMBS had gross unrealized losses greater than twelve months of $30.9 million and $50.7 million as of December 31, 2018 , respectively. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. The other asset-backed securities have a gross unrealized loss greater than twelve months of $4.4 million as of December 31, 2018 . This category predominately includes student-loan backed auction rate securities (“ARS”), the underlying collateral, of which is at least 97% guaranteed by the Federal Family Education Loan Program (“FFELP”). At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary. The U.S. government-related securities and the other government-related securities had gross unrealized losses greater than twelve months of $41.1 million and $18.6 million as of December 31, 2018, respectively. These declines were related to changes in interest rates. The states, municipalities, and political subdivisions categories had gross unrealized losses greater than twelve months of $91.7 million as of December 31, 2018. The aggregate decline in market value of these securities was deemed temporary due to positive factors supporting the recoverability of the respective investments. Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information. The corporate securities category has gross unrealized losses greater than twelve months of $1.4 billion as of December 31, 2018 . The aggregate decline in market value of these securities was deemed temporary due to positive factors supporting the recoverability of the respective investments. Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information. As of December 31, 2018 , the Company had a total of 4,005 positions that were in an unrealized loss position, but the Company does not consider these unrealized loss positions to be other-than-temporary. This is based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and the Company does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities. The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2017 : Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 766,599 $ (9,671 ) $ 416,221 $ (13,362 ) $ 1,182,820 $ (23,033 ) Commercial mortgage-backed securities 757,471 (8,592 ) 796,456 (21,594 ) 1,553,927 (30,186 ) Other asset-backed securities 86,506 (322 ) 134,316 (5,441 ) 220,822 (5,763 ) U.S. government-related securities 94,110 (688 ) 1,072,232 (31,489 ) 1,166,342 (32,177 ) Other government-related securities 24,830 (169 ) 115,294 (4,778 ) 140,124 (4,947 ) States, municipalities, and political subdivisions 170,268 (1,738 ) 1,027,747 (43,874 ) 1,198,015 (45,612 ) Corporate securities 5,054,316 (55,795 ) 10,962,689 (472,394 ) 16,017,005 (528,189 ) Redeemable preferred Stock 22,048 (1,120 ) 23,197 (2,383 ) 45,245 (3,503 ) Equities 86,586 (1,401 ) 91,195 (7,370 ) 177,781 (8,771 ) $ 7,062,734 $ (79,496 ) $ 14,639,347 $ (602,685 ) $ 21,702,081 $ (682,181 ) RMBS and CMBS had gross unrealized losses greater than twelve months of $13.4 million and $21.6 million , respectively, as of December 31, 2017. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments. The other asset-backed securities have a gross unrealized loss greater than twelve months of $5.4 million as of December 31, 2017. This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the Federal Family Education Loan Program (“FFELP”). At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary. The U.S. government-related securities and the other government-related securities had gross unrealized losses greater than twelve months of $31.5 million and $4.8 million as of December 31, 2017, respectively. These declines were related to changes in interest rates. The states, municipalities, and political subdivisions categories had gross unrealized losses greater than twelve months of $43.9 million as of December 31, 2017. These declines were related to changes in interest rates. The corporate securities category has gross unrealized losses greater than twelve months of $472.4 million as of December 31, 2017. The aggregate decline in market value of these securities was deemed temporary due to positive factors supporting the recoverability of the respective investments. Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information. As of December 31, 2018, the Company had securities in its available-for-sale portfolio which were rated below investment grade with a fair value of $1.6 billion and had an amortized cost of $1.8 billion . In addition, included in the Company’s trading portfolio, the Company held $144.3 million of securities which were rated below investment grade. Approximately $262.8 million of the below investment grade securities held by the Company were not publicly traded. The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ (2,041,445 ) $ 1,086,727 $ 802,368 The amortized cost and fair value of the Company’s investments classified as held-to-maturity as of December 31, 2018 and December 31, 2017 , are as follows: Amortized Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Total OTTI Recognized in OCI As of December 31, 2018 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 750,474 $ — $ (81,657 ) $ 668,817 $ — Steel City LLC 1,883,000 — (4,607 ) 1,878,393 — $ 2,633,474 $ — $ (86,264 ) $ 2,547,210 $ — Amortized Gross Gross Fair Value Total OTTI Recognized in OCI As of December 31, 2017 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 704,904 $ — $ (19,163 ) $ 685,741 $ — Steel City LLC 2,014,000 76,586 — 2,090,586 — $ 2,718,904 $ 76,586 $ (19,163 ) $ 2,776,327 $ — During the years ended December 31, 2018, 2017, and 2016, the Company did not record any other-than-temporary impairments on held-to-maturity securities. The Company’s held-to-maturity securities had $86.3 million of gross unrecognized holding losses by maturity as of December 31, 2018. The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings of the guarantor, financial health of the issuer and guarantor, continued access of the issuer to capital markets and other pertinent information. These held-to-maturity securities are issued by affiliates of the Company which are considered VIE’s. The Company is not the primary beneficiary of these entities and thus the securities are not eliminated in consolidation. These securities are collateralized by non-recourse funding obligations issued by captive insurance companies that are affiliates of the Company. The Company’s held-to-maturity securities had $76.6 million of gross unrecognized holding gains and $19.2 million of gross unrecognized holding losses by maturity as of December 31, 2017. The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings of the guarantor, financial health of the issuer and guarantor, continued access of the issuer to capital markets and other pertinent information. The Company held $140.5 million of non-income producing securities for the year ended December 31, 2018 . Included in the Company’s invested assets are $1.7 billion of policy loans as of December 31, 2018 . The interest rates on standard policy loans range from 3.0% to 8.0% . The collateral loans on life insurance policies have an interest rate of 13.64% . Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC” or “Codification”) (excluding debt and equity securities held as trading, available for sale, or held to maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a VIE. If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Based on this analysis, the Company had an interest in two subsidiaries as of December 31, 2018 and December 31, 2017, Red Mountain LLC (“Red Mountain”) and Steel City LLC (“Steel City”), that were determined to be VIEs. The activity most significant to Red Mountain is the issuance of a note in connection with a financing transaction involving Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”) in which Golden Gate V issued non-recourse funding obligations to Red Mountain and Red Mountain issued a note (the “Red Mountain Note”) to Golden Gate V. For details of this transaction, see Note 14, Debt and Other Obligations . The Company has the power, via its 100% ownership through an affiliate, to direct the activities of the VIE, but did not have the obligation to absorb losses related to the primary risks or sources of variability to the VIE. The variability of loss would be borne primarily by the third party in its function as provider of credit enhancement on the Red Mountain Note. Accordingly, it was determined that the Company is not the primary beneficiary of the VIE. The Company’s risk of loss related to the VIE is limited to its investment, through an affiliate, of $10,000 . Additionally, the Company has guaranteed Red Mountain’s payment obligation for the credit enhancement fee to the unrelated third party provider. As of December 31, 2018 , no payments have been made or required related to this guarantee. Steel City, a newly formed wholly owned subsidiary of the Company, entered into a financing agreement on January 15, 2016 involving Golden Gate Captive Insurance Company, in which Golden Gate issued non-recourse funding obligations to Steel City and Steel City issued three notes (the “Steel City Notes”) to Golden Gate. Credit enhancement on the Steel City Notes is provided by unrelated third parties. For details of the financing transaction, see Note 14, Debt and Other Obligations . The activity most significant to Steel City is the issuance of the Steel City Notes. The Company had the power, via its 100% ownership, to direct the activities of the VIE, but did not have the obligation to absorb losses related to the primary risks or sources of variability to the VIE. The variability of loss would be borne primarily by the third parties in their function as providers of credit enhancement on the Steel City Notes. Accordingly, it was determined that the Company is not the primary beneficiary of the VIE. The Company’s risk of loss related to the VIE is limited to its investment of $10,000 . Additionally, the Company has guaranteed Steel City’s payment obligation for the credit enhancement fee to the unrelated third party providers. As of December 31, 2018 , no payments have been made or required related to this guarantee.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company determined the fair value of its financial instruments based on the fair value hierarchy established in FASB guidance referenced in the Fair Value Measurements and Disclosures Topic which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company has adopted the provisions from the FASB guidance that is referenced in the Fair Value Measurements and Disclosures Topic for non-financial assets and liabilities (such as property and equipment, goodwill, and other intangible assets) that are required to be measured at fair value on a periodic basis. The effect on the Company’s periodic fair value measurements for non-financial assets and liabilities was not material. The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the consolidated balance sheets are categorized as follows: • Level 1: Unadjusted quoted prices for identical assets or liabilities in an active market. • Level 2: Quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly. Level 2 inputs include the following: a) Quoted prices for similar assets or liabilities in active markets b) Quoted prices for identical or similar assets or liabilities in non-active markets c) Inputs other than quoted market prices that are observable d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means. • Level 3: Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own estimates about the assumptions a market participant would use in pricing the asset or liability. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 : Measurement Category Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities—available-for-sale Residential mortgage-backed securities 4 $ — $ 3,611,590 $ — $ 3,611,590 Commercial mortgage-backed securities 4 — 2,295,084 — 2,295,084 Other asset-backed securities 4 — 970,251 421,642 1,391,893 U.S. government-related securities 4 1,010,485 629,020 — 1,639,505 State, municipalities, and political subdivisions 4 — 3,588,841 — 3,588,841 Other government-related securities 4 — 515,964 — 515,964 Corporate securities 4 — 35,724,552 638,276 36,362,828 Redeemable preferred stock 4 65,536 17,266 — 82,802 Total fixed maturity securities—available-for-sale 1,076,021 47,352,568 1,059,918 49,488,507 Fixed maturity securities—trading Residential mortgage-backed securities 3 — 241,836 — 241,836 Commercial mortgage-backed securities 3 — 188,925 — 188,925 Other asset-backed securities 3 — 133,851 26,056 159,907 U.S. government-related securities 3 27,453 32,341 — 59,794 State, municipalities, and political subdivisions 3 — 286,413 — 286,413 Other government-related securities 3 — 44,207 — 44,207 Corporate securities 3 — 1,417,591 6,242 1,423,833 Redeemable preferred stock 3 11,277 — — 11,277 Total fixed maturity securities—trading 38,730 2,345,164 32,298 2,416,192 Total fixed maturity securities 1,114,751 49,697,732 1,092,216 51,904,699 Equity securities 3 531,523 36 64,325 595,884 Other long-term investments (1) 3&4 83,047 180,438 112,344 375,829 Short-term investments 3 730,067 77,216 — 807,283 Total investments 2,459,388 49,955,422 1,268,885 53,683,695 Cash 3 173,714 — — 173,714 Other assets 3 29,257 — — 29,257 Assets related to separate accounts Variable annuity 3 12,288,919 — — 12,288,919 Variable universal life 3 937,732 — — 937,732 Total assets measured at fair value on a recurring basis $ 15,889,010 $ 49,955,422 $ 1,268,885 $ 67,113,317 Liabilities: Annuity account balances (2) 3 $ — $ — $ 76,119 $ 76,119 Other liabilities (1) 3&4 56,018 69,501 629,942 755,461 Total liabilities measured at fair value on a recurring basis $ 56,018 $ 69,501 $ 706,061 $ 831,580 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. (3) Fair Value through Net Income. (4) Fair Value through Other Comprehensive Income. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities—available-for-sale Residential mortgage-backed securities $ — $ 2,327,212 $ — $ 2,327,212 Commercial mortgage-backed securities — 1,889,822 — 1,889,822 Other asset-backed securities — 745,184 504,365 1,249,549 U.S. government-related securities 958,775 264,477 — 1,223,252 State, municipalities, and political subdivisions — 1,741,645 — 1,741,645 Other government-related securities — 287,282 — 287,282 Corporate securities — 29,075,109 626,901 29,702,010 Redeemable preferred stock 72,471 18,620 — 91,091 Total fixed maturity securities—available-for-sale 1,031,246 36,349,351 1,131,266 38,511,863 Fixed maturity securities—trading Residential mortgage-backed securities — 259,694 — 259,694 Commercial mortgage-backed securities — 146,804 — 146,804 Other asset-backed securities — 102,875 35,222 138,097 U.S. government-related securities 21,183 6,051 — 27,234 State, municipalities, and political subdivisions — 326,925 — 326,925 Other government-related securities — 63,925 — 63,925 Corporate securities — 1,692,741 5,442 1,698,183 Redeemable preferred stock 3,327 — — 3,327 Total fixed maturity securities—trading 24,510 2,599,015 40,664 2,664,189 Total fixed maturity securities 1,055,756 38,948,366 1,171,930 41,176,052 Equity securities 688,214 36 66,110 754,360 Other long-term investments (1) 51,102 417,969 136,004 605,075 Short-term investments 482,461 132,749 — 615,210 Total investments 2,277,533 39,499,120 1,374,044 43,150,697 Cash 252,310 — — 252,310 Other assets 28,771 — — 28,771 Assets related to separate accounts Variable annuity 13,956,071 — — 13,956,071 Variable universal life 1,035,202 — — 1,035,202 Total assets measured at fair value on a recurring basis $ 17,549,887 $ 39,499,120 $ 1,374,044 $ 58,423,051 Liabilities: Annuity account balances (2) $ — $ — $ 83,472 $ 83,472 Other liabilities (1) 5,755 240,927 760,890 1,007,572 Total liabilities measured at fair value on a recurring basis $ 5,755 $ 240,927 $ 844,362 $ 1,091,044 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. Determination of Fair Values The valuation methodologies used to determine the fair values of assets and liabilities reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Company determines the fair values of certain financial assets and financial liabilities based on quoted market prices, where available. The Company also determines certain fair values based on future cash flows discounted at the appropriate current market rate. Fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity, and where appropriate, risk margins on unobservable parameters. The following is a discussion of the methodologies used to determine fair values for the financial instruments as listed in the above table. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Third party pricing services price 93.6% of the Company’s available-for-sale and trading fixed maturity securities. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which we purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party pricing service or an independent broker quotation. The pricing matrix used by the Company begins with current spread levels to determine the market price for the security. The credit spreads, assigned by brokers, incorporate the issuer’s credit rating, liquidity discounts, weighted- average of contracted cash flows, risk premium, if warranted, due to the issuer’s industry, and the security’s time to maturity. The Company uses credit ratings provided by nationally recognized rating agencies. For securities that are priced via non-binding independent broker quotations, the Company assesses whether prices received from independent brokers represent a reasonable estimate of fair value through an analysis using internal and external cash flow models developed based on spreads and, when available, market indices. The Company uses a market-based cash flow analysis to validate the reasonableness of prices received from independent brokers. These analytics, which are updated daily, incorporate various metrics (yield curves, credit spreads, prepayment rates, etc.) to determine the valuation of such holdings. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the analytics, the price received from the independent broker is adjusted accordingly. The Company did not adjust any quotes or prices received from brokers during the years ended December 31, 2018 and 2017. The Company has analyzed the third party pricing services’ valuation methodologies and related inputs and has also evaluated the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity and the observability of market inputs that is in accordance with the Fair Value Measurements and Disclosures Topic of the ASC. Based on this evaluation and investment class analysis, each price was classified into Level 1, 2, or 3. Most prices provided by third party pricing services are classified into Level 2 because the significant inputs used in pricing the securities are market observable and the observable inputs are corroborated by the Company. Since the matrix pricing of certain debt securities includes significant non-observable inputs, they are classified as Level 3. Asset-Backed Securities This category mainly consists of residential mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”). As of December 31, 2018 , the Company held $7.4 billion of ABS classified as Level 2. These securities are priced from information provided by a third party pricing service and independent broker quotes. The third party pricing services and brokers mainly value securities using both a market and income approach to valuation. As part of this valuation process they consider the following characteristics of the item being measured to be relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, and 7) credit ratings of the securities. After reviewing these characteristics of the ABS, the third party pricing service and brokers use certain inputs to determine the value of the security. For ABS classified as Level 2, the valuation would consist of predominantly market observable inputs such as, but not limited to: 1) monthly principal and interest payments on the underlying assets, 2) average life of the security, 3) prepayment speeds, 4) credit spreads, 5) treasury and swap yield curves, and 6) discount margin. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation. As of December 31, 2018 , the Company held $447.7 million of Level 3 ABS, which included $421.6 million of other asset-backed securities classified as available-for-sale and $26.1 million of other asset-backed securities classified as trading. These securities within the available-for-sale portfolio are predominantly ARS whose underlying collateral is at least 97% guaranteed by the FFELP. As a result of the ARS market collapse during 2008, the Company prices its ARS using an income approach valuation model. As part of the valuation process the Company reviews the following characteristics of the ARS in determining the relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, 7) credit ratings of the securities, 8) liquidity premium, and 9) paydown rate. In periods where market activity increases and there are transactions at a price that is not the result of a distressed or forced sale we consider those prices as part of our valuation. If the market activity during a period is solely the result of the issuer redeeming positions we consider those transactions in our valuation, but still consider them to be level three measurements due to the nature of the transaction. Corporate Securities, Redeemable Preferred Stock, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities As of December 31, 2018 , the Company classified approximately $42.3 billion of corporate securities, redeemable preferred stock, U.S. government-related securities, states, municipals, and political subdivisions, and other government-related securities as Level 2. The fair value of the Level 2 securities is predominantly priced by broker quotes and a third party pricing service. The Company has reviewed the valuation techniques of the brokers and third party pricing service and has determined that such techniques used Level 2 market observable inputs. The following characteristics of the securities are considered to be the primary relevant inputs to the valuation: 1) weighted- average coupon rate, 2) weighted-average years to maturity, 3) seniority, and 4) credit ratings. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation. The brokers and third party pricing service utilize valuation models that consist of a hybrid income and market approach to valuation. The pricing models utilize the following inputs: 1) principal and interest payments, 2) treasury yield curve, 3) credit spreads from new issue and secondary trading markets, 4) dealer quotes with adjustments for issues with early redemption features, 5) liquidity premiums present on private placements, and 6) discount margins from dealers in the new issue market. As of December 31, 2018 , the Company classified approximately $644.5 million of securities as Level 3 valuations. Level 3 securities primarily represent investments in illiquid bonds for which no price is readily available. To determine a price, the Company uses a discounted cash flow model with both observable and unobservable inputs. These inputs are entered into an industry standard pricing model to determine the final price of the security. These inputs include: 1) principal and interest payments, 2) coupon rate, 3) sector and issuer level spread over treasury, 4) underlying collateral, 5) credit ratings, 6) maturity, 7) embedded options, 8) recent new issuance, 9) comparative bond analysis, and 10) an illiquidity premium. Equities As of December 31, 2018 , the Company held approximately $64.4 million of equity securities classified as Level 2 and Level 3. Of this total, $63.4 million represents FHLB stock. The Company believes that the cost of the FHLB stock approximates fair value. Other Long-Term Investments and Other Liabilities Other long-term investments and other liabilities consist entirely of free-standing and embedded derivative financial instruments. Refer to Note 7, Derivative Financial Instruments for additional information related to derivatives. Derivative financial instruments are valued using exchange prices, independent broker quotations, or pricing valuation models, which utilize market data inputs. Excluding embedded derivatives, as of December 31, 2018 , 100% of derivatives based upon notional values were priced using exchange prices or independent broker quotations. Inputs used to value derivatives include, but are not limited to, interest swap rates, credit spreads, interest rate and equity market volatility indices, equity index levels, and treasury rates. The Company performs monthly analysis on derivative valuations that includes both quantitative and qualitative analyses. Derivative instruments classified as Level 1 generally include futures and options, which are traded on active exchange markets. Derivative instruments classified as Level 2 primarily include swaps, options, and swaptions, which are traded over-the-counter. Level 2 also includes certain centrally cleared derivatives. These derivative valuations are determined using independent broker quotations, which are corroborated with observable market inputs. Derivative instruments classified as Level 3 were embedded derivatives and include at least one significant non-observable input. A derivative instrument containing Level 1 and Level 2 inputs will be classified as a Level 3 financial instrument in its entirety if it has at least one significant Level 3 input. The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the changes in fair value on derivatives reported in Level 3 may not reflect the offsetting impact of the changes in fair value of the associated assets and liabilities. The embedded derivatives are carried at fair value in “other long-term investments” and “other liabilities” on the Company’s consolidated condensed balance sheet. The changes in fair value are recorded in earnings as “Realized investment gains (losses) - Derivative financial instruments”. Refer to Note 7, Derivative Financial Instruments for more information related to each embedded derivatives gains and losses. The fair value of the GLWB embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using multiple risk neutral stochastic equity scenarios and policyholder behavior assumptions. The risk neutral scenarios are generated using the current swap curve and projected equity volatilities and correlations. The projected equity volatilities are based on a blend of historical volatility and near-term equity market implied volatilities. The equity correlations are based on historical price observations. For policyholder behavior assumptions, expected lapse and utilization assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the Ruark 2015 ALB table with attained age factors varying from 87.0% - 100.0% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR plus a credit spread (to represent the Company’s non-performance risk). As a result of using significant unobservable inputs, the GLWB embedded derivative is categorized as Level 3. Policyholder assumptions are reviewed on an annual basis. The balance of the FIA embedded derivative is impacted by policyholder cash flows associated with the FIA product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the FIA embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the 2015 Ruark ALB mortality table modified with company experience, with attained age factors varying from 87% - 100% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the FIA embedded derivative is categorized as Level 3. The balance of the indexed universal life (“IUL”) embedded derivative is impacted by policyholder cash flows associated with the IUL product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the IUL embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the SOA 2015 VBT Primary Tables modified with company experience, with attained age factors varying from 37% - 577% . The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the IUL embedded derivative is categorized as Level 3. The Company has assumed and ceded certain blocks of policies under modified coinsurance agreements in which the investment results of the underlying portfolios inure directly to the reinsurers. As a result, these agreements contain embedded derivatives that are reported at fair value. Changes in their fair value are reported in earnings. The investments supporting these agreements are designated as “trading securities”; therefore changes in their fair value are also reported in earnings. As of December 31, 2018 , the fair value of the embedded derivative is based upon the relationship between the statutory policy liabilities (net of policy loans) of $2.3 billion and the statutory unrealized gain (loss) of the securities of $25.8 million . As a result, changes in the fair value of the embedded derivatives are largely offset by the changes in fair value of the related investments and each are reported in earnings. The fair value of the embedded derivative is considered a Level 3 valuation due to the unobservable nature of the policy liabilities. Annuity Account Balances The Company records a certain legacy block of FIA reserves at fair value. Based on the characteristics of these reserves, the Company believes that the fund value approximates fair value. The fair value measurement of these reserves is considered a Level 3 valuation due to the unobservable nature of the fund values. The Level 3 fair value as of December 31, 2018 is $76.1 million . Separate Accounts Separate account assets are invested in open-ended mutual funds and are included in Level 1. Valuation of Level 3 Financial Instruments The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 421,458 Liquidation Liquidation value $85.75 - $99.99 ($95.36) Discounted cash flow Liquidity premium 0.02% - 1.25% (0.64%) Paydown rate 10.96% - 13.11% (12.03%) Corporate securities 631,068 Discounted cash flow Spread over treasury 0.84% - 3.0% (1.84%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 184,071 Actuarial cash flow model Mortality 87% to 100% of Ruark 2015 ALB table Lapse Ruark Predictive Model Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.16% Embedded derivative—FIA 217,288 Actuarial cash flow model Expenses $145 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 87% to 100% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.21% - 1.16% Embedded derivative—IUL 90,231 Actuarial cash flow model Mortality 37% - 577% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.16% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability. The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value. The Company has considered all reasonably available quantitative inputs as of December 31, 2018 , but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $40.4 million of financial instruments being classified as Level 3 as of December 31, 2018 . Of the $40.4 million , $26.2 million are other asset-backed securities, $13.5 million are corporate securities, and $0.7 million are equity securities. In certain cases the Company has determined that book value materially approximates fair value. As of December 31, 2018 , the Company held $63.6 million of financial instruments where book value approximates fair value which was predominantly FHLB stock. The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 504,228 Discounted cash flow Liquidation value $90 - $97 ($94.91) Discounted cash flow Liquidity premium 0.06% - 1.17% (0.75%) Paydown rate 11.31% - 11.97% (11.54%) Corporate securities 617,770 Discounted cash flow Spread over treasury 0.81% - 3.95% (1.06%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 111,760 Actuarial cash flow model Mortality 91.1% to 106.6% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.11% - 0.79% Embedded derivative—FIA 218,676 Actuarial cash flow model Expenses $146 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 1994 MGDB table with company experience Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.11% - 0.79% Embedded derivative - IUL 80,212 Actuarial cash flow model Mortality 34% - 152% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.11% - 0.79% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability. The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value. The Company has considered all reasonably available quantitative inputs as of December 31, 2017 , but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $50.4 million of financial instruments being classified as Level 3 as of December 31, 2017 . Of the $50.4 million , $35.4 million are other asset-backed securities, $14.6 million are corporate securities, and $0.4 million are equity securities. In certain cases the Company determined that book value materially approximates fair value. As of December 31, 2017 , the Company held $65.7 million of financial instruments where book value approximates fair value, which was predominantly FHLB stock. The asset-backed securities classified as Level 3 are predominantly ARS. A change in the paydown rate (the projected annual rate of principal reduction) of the ARS can significantly impact the fair value of these securities. A decrease in the paydown rate would increase the projected weighted average life of the ARS and increase the sensitivity of the ARS’ fair value to changes in interest rates. An increase in the liquidity premium would result in a decrease in the fair value of the securities, while a decrease in the liquidity premium would increase the fair value of these securities. The liquidation value for these securities are sensitive to the issuer’s available cash flows and ability to redeem the securities, as well as the current holders’ willingness to liquidate at the specified price. The fair value of corporate bonds classified as Level 3 is sensitive to changes in the interest rate spread over the corresponding U.S. Treasury rate. This spread represents a risk premium that is impacted by company specific and market factors. An increase in the spread can be caused by a perceived increase in credit risk of a specific issuer and/or an increase in the overall market risk premium associated with similar securities. The fair values of corporate bonds are sensitive to changes in spread. When holding the treasury rate constant, the fair value of corporate bonds increases when spreads decrease, and decreases when spreads increase. The fair value of the GLWB embedded derivative is sensitive to changes in the discount rate which includes the Company’s nonperformance risk, volatility, lapse, and mortality assumptions. The volatility assumption is an observable input as it is based on market inputs. The Company’s nonperformance risk, lapse, and mortality are unobservable. An increase in the t

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Types of Derivative Instruments and Derivative Strategies The Company utilizes a risk management strategy that incorporates the use of derivative financial instruments to reduce exposure to certain risks, including but not limited to, interest rate risk, currency exchange risk, volatility risk, and equity market risk. These strategies are developed through the Company’s analysis of data from financial simulation models and other internal and industry sources, and are then incorporated into the Company’s risk management program. Derivative instruments expose the Company to credit and market risk and could result in material changes from period to period. The Company attempts to minimize its credit in connection with its overall asset/liability management programs and risk management strategies. In addition, all derivative programs are monitored by our risk management department. Derivatives Related to Interest Rate Risk Management Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps, interest rate futures, interest rate caps, and interest rate swaptions. Derivatives Related to Foreign Currency Exchange Risk Management Derivative instruments that are used as part of the Company’s foreign currency exchange risk management strategy include foreign currency swaps, foreign currency futures, foreign equity futures, and foreign equity options. Derivatives Related to Risk Mitigation of Certain Annuity Contracts The Company may use the following types of derivative contracts to mitigate its exposure to certain guaranteed benefits related to VA contracts and fixed indexed annuities: • Foreign Currency Futures • Variance Swaps • Interest Rate Futures • Equity Options • Equity Futures • Credit Derivatives • Interest Rate Swaps • Interest Rate Swaptions • Volatility Futures • Volatility Options • Total Return Swaps Accounting for Derivative Instruments The Company records its derivative financial instruments in the consolidated balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in other comprehensive income (loss), depending upon whether it qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. It is the Company's policy not to offset assets and liabilities associated with open derivative contracts. However, the Chicago Mercantile Exchange (“CME”) rules characterize variation margin transfers as settlement payments, as opposed to adjustments to collateral. As a result, derivative assets and liabilities associated with centrally cleared derivatives for which the CME serves as the central clearing party are presented as if these derivatives had been settled as of the reporting date. For a derivative financial instrument to be accounted for as an accounting hedge, it must be identified and documented as such on the date of designation. For cash flow hedges, the effective portion of their realized gain or loss is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain attributable to the hedged risk of the hedged item is recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship through earnings in the period of change. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses)-Derivative financial instruments”. Derivative Instruments Designated and Qualifying as Hedging Instruments Cash-Flow Hedges • To hedge a fixed rate note denominated in a foreign currency, the Company entered into a fixed-to-fixed foreign currency swap in order to hedge the foreign currency exchange risk associated with the note. The cash flows received on the swap are identical to the cash flow paid on the note. • To hedge a floating rate note, the Company entered into an interest rate swap to exchange the floating rate on the note for a fixed rate in order to hedge the interest rate risk associated with the note. The cash flows received on the swap are identical to the cash flow variability paid on the note. Derivative Instruments Not Designated and Not Qualifying as Hedging Instruments The Company uses various other derivative instruments for risk management purposes that do not qualify for hedge accounting treatment. Changes in the fair value of these derivatives are recognized in earnings during the period of change. Derivatives Related to Variable Annuity Contracts • The Company uses equity futures, equity options, total return swaps, interest rate futures, interest rate swaps, interest rate swaptions, currency futures, volatility futures, volatility options, and variance swaps to mitigate the risk related to certain guaranteed minimum benefits, including GLWB, within its VA products. In general, the cost of such benefits varies with the level of equity and interest rate markets, foreign currency levels, and overall volatility. • The Company markets certain VA products with a GLWB rider. The GLWB component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Derivatives Related to Fixed Annuity Contracts • The Company uses equity futures and options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity and overall volatility. • The Company markets certain fixed indexed annuity products. The FIA component is considered an embedded derivative, not considered to be clearly and closely related to the host contract. Derivatives Related to Indexed Universal Life Contracts • The Company uses equity futures and options to mitigate the risk within its indexed universal life products. In general, the cost of such benefits varies with the level of equity markets. • The Company markets certain IUL products. The IUL component is considered an embedded derivative as it is not considered to be clearly and closely related to the host contract. Other Derivatives • The Company uses various swaps and other types of derivatives to manage risk related to other exposures. • The Company is involved in various modified coinsurance arrangements which contain embedded derivatives. Changes in their fair value are recorded in current period earnings. The investment portfolios that support the related modified coinsurance reserves had fair value changes which substantially offset the gains or losses on these embedded derivatives. The following table sets forth realized investment gains and losses for the periods shown: Realized investment gains (losses)—derivative financial instruments For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures $ (25,473 ) $ 26,015 $ (3,450 ) Equity futures (88,208 ) (91,776 ) (106,431 ) Currency futures 10,275 (23,176 ) 33,836 Equity options 38,083 (94,791 ) (60,962 ) Interest rate swaptions (14 ) (2,490 ) (1,161 ) Interest rate swaps (45,185 ) 27,981 20,420 Total return swaps 77,225 (32,240 ) — Embedded derivative - GLWB (72,313 ) 3,614 68,056 Total derivatives related to VA contracts (105,610 ) (186,863 ) (49,692 ) Derivatives related to FIA contracts: Embedded derivative 35,397 (55,878 ) (16,494 ) Equity futures 330 642 4,248 Equity options (38,885 ) 44,585 8,149 Total derivatives related to FIA contracts (3,158 ) (10,651 ) (4,097 ) Derivatives related to IUL contracts: Embedded derivative 9,062 (14,117 ) 9,529 Equity futures 261 (818 ) 129 Equity options (6,338 ) 9,580 3,477 Total derivatives related to IUL contracts 2,985 (5,355 ) 13,135 Embedded derivative - Modco reinsurance treaties 166,757 (103,009 ) 390 Other derivatives 14 50 (24 ) Total realized gains (losses)—derivatives $ 60,988 $ (305,828 ) $ (40,288 ) The following tables present the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship: Gain (Loss) on Derivatives in Cash Flow Relationship Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Effective Portion) (Effective Portion) (Ineffective Portion) Benefits and settlement expenses Realized investment gains (losses) (Dollars In Thousands) For The Year Ended December 31, 2018 Foreign currency swaps $ (812 ) $ (798 ) $ — Interest rate swaps (1,574 ) (633 ) — Total $ (2,386 ) $ (1,431 ) $ — For The Year Ended December 31, 2017 Foreign currency swaps $ (867 ) $ (694 ) $ — Total $ (867 ) $ (694 ) $ — For The Year Ended December 31, 2016 Foreign currency swaps $ 1,058 $ (60 ) $ — Total $ 1,058 $ (60 ) $ — Based on expected cash flows of the underlying hedged items, the Company expects to reclassify $0.1 million out of accumulated other comprehensive income into earnings during the next twelve months. The tables below present information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated financial statements for the periods presented below: As of December 31, 2018 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) Other long-term investments Cash flow hedges: Foreign currency swaps $ — $ — $ 117,178 $ 6,016 Derivatives not designated as hedging instruments: Interest rate swaps 1,515,500 28,501 1,265,000 55,411 Total return swaps 138,070 3,971 190,938 135 Embedded derivative - Modco reinsurance treaties 585,294 7,072 64,472 1,009 Embedded derivative - GLWB 3,984,070 105,272 4,897,069 134,995 Interest rate futures 286,208 10,302 1,071,870 3,178 Equity futures 12,633 483 62,266 154 Currency futures — — 1,117 2 Equity options 5,624,081 220,092 4,436,467 403,961 Interest rate swaptions — — 225,000 14 Other 157 136 157 200 $ 12,146,013 $ 375,829 $ 12,331,534 $ 605,075 Other liabilities Cash flow hedges: Interest rate swaps $ 350,000 $ — $ — $ — Foreign currency swaps 117,178 904 — — Derivatives not designated as hedging instruments: Interest rate swaps 775,000 11,367 597,500 2,960 Total return swaps 768,177 23,054 243,388 318 Embedded derivative - Modco reinsurance treaties 1,795,287 32,828 2,390,539 215,247 Embedded derivative - GLWB 8,466,019 289,343 4,718,311 246,755 Embedded derivative - FIA 2,576,033 217,288 1,951,650 218,676 Embedded derivative - IUL 233,550 90,231 168,349 80,212 Interest rate futures 863,706 20,100 230,404 917 Equity futures 659,357 33,753 318,795 2,593 Currency futures 202,747 2,163 255,248 2,087 Equity options 4,199,687 34,178 3,112,812 237,807 Other 3,288 252 — — $ 21,010,029 $ 755,461 $ 13,986,996 $ 1,007,572

OFFSETTING OF ASSETS AND LIABIL

OFFSETTING OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
OFFSETTING OF ASSETS AND LIABILITIES	OFFSETTING OF ASSETS AND LIABILITIES Certain of the Company’s derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. Additionally, certain of the Company’s repurchase agreements provide for net settlement on termination of the agreement. Refer to Note 14, Debt and Other Obligations for details of the Company’s repurchase agreement programs. Collateral received includes both cash and non-cash collateral. Cash collateral received by the Company is recorded on the consolidated balance sheet as “cash”, with a corresponding amount recorded in “other liabilities” to represent the Company’s obligation to return the collateral. Non-cash collateral received by the Company is not recognized on the consolidated balance sheet unless the Company exercises its right to sell or re-pledge the underlying asset. As of December 31, 2018, the fair value of non-cash collateral received was $45.0 million . As of December 31, 2017, the Company had no t received any non-cash collateral. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2018 : Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 263,349 $ — $ 263,349 $ 70,322 $ 99,199 $ 93,828 Total derivatives, subject to a master netting arrangement or similar arrangement 263,349 — 263,349 70,322 99,199 93,828 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 7,072 — 7,072 — — 7,072 Embedded derivative - GLWB 105,272 — 105,272 — — 105,272 Other 136 — 136 — — 136 Total derivatives, not subject to a master netting arrangement or similar arrangement 112,480 — 112,480 — — 112,480 Total derivatives 375,829 — 375,829 70,322 99,199 206,308 Total Assets $ 375,829 $ — $ 375,829 $ 70,322 $ 99,199 $ 206,308 Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 125,519 $ — $ 125,519 $ 70,322 $ 47,856 $ 7,341 Total derivatives, subject to a master netting arrangement or similar arrangement 125,519 — 125,519 70,322 47,856 7,341 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 32,828 — 32,828 — — 32,828 Embedded derivative - GLWB 289,343 — 289,343 — — 289,343 Embedded derivative - FIA 217,288 — 217,288 — — 217,288 Embedded derivative - IUL 90,231 — 90,231 — — 90,231 Other 252 — 252 — — 252 Total derivatives, not subject to a master netting arrangement or similar arrangement 629,942 — 629,942 — — 629,942 Total derivatives 755,461 — 755,461 70,322 47,856 637,283 Repurchase agreements (1) 418,090 — 418,090 — — 418,090 Total Liabilities $ 1,173,551 $ — $ 1,173,551 $ 70,322 $ 47,856 $ 1,055,373 (1) Borrowings under repurchase agreements are for a term less than 90 days. The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2017 : Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 468,871 $ — $ 468,871 $ 242,105 $ 108,830 $ 117,936 Total derivatives, subject to a master netting arrangement or similar arrangement 468,871 — 468,871 242,105 108,830 117,936 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,009 — 1,009 — — 1,009 Embedded derivative - GLWB 134,995 — 134,995 — — 134,995 Other 200 — 200 — — 200 Total derivatives, not subject to a master netting arrangement or similar arrangement 136,204 — 136,204 — — 136,204 Total derivatives 605,075 — 605,075 242,105 108,830 254,140 Total Assets $ 605,075 $ — $ 605,075 $ 242,105 $ 108,830 $ 254,140 Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 246,682 $ — $ 246,682 $ 242,105 $ 4,577 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 246,682 — 246,682 242,105 4,577 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 215,247 — 215,247 — — 215,247 Embedded derivative - GLWB 246,755 — 246,755 — — 246,755 Embedded derivative - FIA 218,676 — 218,676 — — 218,676 Embedded derivative - IUL 80,212 — 80,212 — — 80,212 Total derivatives, not subject to a master netting arrangement or similar arrangement 760,890 — 760,890 — — 760,890 Total derivatives 1,007,572 — 1,007,572 242,105 4,577 760,890 Repurchase agreements (1) 885,000 — 885,000 — — 885,000 Total Liabilities $ 1,892,572 $ — $ 1,892,572 $ 242,105 $ 4,577 $ 1,645,890 (1) Borrowings under repurchase agreements are for a term less than 90 days.

MORTGAGE LOANS

MORTGAGE LOANS	12 Months Ended
	Dec. 31, 2018
MORTGAGE LOANS
MORTGAGE LOANS	MORTGAGE LOANS Mortgage Loans The Company invests a portion of its investment portfolio in commercial mortgage loans. As of December 31, 2018 , the Company’s mortgage loan holdings were approximately $7.7 billion . The Company has specialized in making loans on credit-oriented commercial properties, credit-anchored strip shopping centers, senior living facilities, and apartments. The Company’s underwriting procedures relative to its commercial loan portfolio are based, in the Company’s view, on a conservative and disciplined approach. The Company concentrates on a small number of commercial real estate asset types associated with the necessities of life (retail, multi-family, senior living, professional office buildings, and warehouses). The Company believes that these asset types tend to weather economic downturns better than other commercial asset classes in which it has chosen not to participate. The Company believes this disciplined approach has helped to maintain a relatively low delinquency and foreclosure rate throughout its history. The majority of the Company’s mortgage loans portfolio was underwritten by the Company. From time to time, the Company may acquire loans in conjunction with an acquisition. The Company’s commercial mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of an allowance for loan losses. Interest income is accrued on the principal amount of the loan based on the loan’s contractual interest rate. Amortization of premiums and discounts is recorded using the effective yield method. Interest income, amortization of premiums and discounts and prepayment fees are reported in net investment income. The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2018 : Type Percentage of Mortgage Loans on Real Estate Retail 45.0 % Office Buildings 13.2 Apartments 10.2 Warehouses 11.3 Senior housing 15.8 Other 4.5 100.0 % The Company specializes in originating mortgage loans on either credit-oriented or credit-anchored commercial properties. No single tenant’s exposure represents more than 1.2% of mortgage loans. Approximately 62.5% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Florida 8.8 % Alabama 8.6 Texas 7.5 Georgia 7.3 California 7.2 Michigan 4.8 Tennessee 4.7 Utah 4.7 Ohio 4.5 North Carolina 4.4 62.5 % During the year ended December 31, 2018 , the Company funded approximately $1.5 billion of new loans, with an average loan size of $9.1 million . The average size mortgage loan in the portfolio as of December 31, 2018 , was $4.4 million and the weighted-average interest rate was 4.6% . The largest single mortgage loan at December 31, 2018 was $48.8 million . Certain of the mortgage loans have call options that occur within the next 10 years. However, if interest rates were to significantly increase, we may be unable to exercise the call options on our existing mortgage loans commensurate with the significantly increased market rates. Assuming the loans are called at their next call dates, approximately $109.8 million would become due in 2019 , $819.4 million in 2020 through 2024 , and $61.2 million in 2025 through 2029 . The Company offers a type of commercial mortgage loan under which the Company will permit a loan-to-value ratio of up to 85% in exchange for a participating interest in the cash flows from the underlying real estate. As of December 31, 2018 and December 31, 2017 , approximately $700.6 million and $669.3 million , respectively, of the Company’s mortgage loans have this participation feature. Cash flows received as a result of this participation feature are recorded as interest income when received. During the years ended December 31, 2018 , 2017, and 2016, the Company recognized $29.4 million , $37.2 million , and $16.7 million of participating mortgage loan income, respectively. As of December 31, 2018, approximately $3.0 million of invested assets consisted of nonperforming mortgage loans, restructured mortgage loans, or mortgage loans that were foreclosed and were converted to real estate properties. The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2018, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. During the year ended December 31, 2018, the Company recognized one troubled debt restructuring transaction as a result of the Company granting a concession to a borrower which included loan terms unavailable from other lenders. This concession was the result of an agreement between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2018. As of December 31, 2017, approximately $6.5 million of invested assets consisted of nonperforming, restructured, or mortgage loans that were foreclosed and were converted to real estate properties. The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2017, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. During the year ended December 31, 2017, the Company recognized two troubled debt restructurings as a result of the Company granting concessions to borrowers which included loans terms unavailable from other lenders. These concessions were the result of agreements between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2017. As of December 31, 2016, approximately $1.5 million of invested assets consisted of nonperforming, restructured, or mortgage loans that were foreclosed and were converted to real estate properties. The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2016, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. During the year ended December 31, 2016, the Company recognized a troubled debt restructuring as a result of the Company granting a concession to a borrower which included loan terms unavailable from other lenders and reduced the expected cash flows on the loan. This concession was the result of an agreement between the creditor and the debtor. The Company did not identify any loans whose principal was permanently impaired during the year ended December 31, 2016. As of December 31, 2018 , there was an allowance for mortgage loan credit losses of $1.3 million and as of December 31, 2017 there were no allowances for mortgage loan credit losses. Due to the Company’s loss experience and nature of the loan portfolio, the Company believes that a collectively evaluated allowance would be inappropriate. The Company believes an allowance calculated through an analysis of specific loans that are believed to have a higher risk of credit impairment provides a more accurate presentation of expected losses in the portfolio and is consistent with the applicable guidance for loan impairments in ASC Subtopic 310. Since the Company uses the specific identification method for calculating the allowance, it is necessary to review the economic situation of each borrower to determine those that have higher risk of credit impairment. The Company has a team of professionals that monitors borrower conditions such as payment practices, borrower credit, operating performance, and property conditions, as well as ensuring the timely payment of property taxes and insurance. Through this monitoring process, the Company assesses the risk of each loan. When issues are identified, the severity of the issues are assessed and reviewed for possible credit impairment. If a loss is probable, an expected loss calculation is performed and an allowance is established for that loan based on the expected loss. The expected loss is calculated as the excess carrying value of a loan over either the present value of expected future cash flows discounted at the loan’s original effective interest rate, or the current estimated fair value of the loan’s underlying collateral. A loan may be subsequently charged off at such point that the Company no longer expects to receive cash payments, the present value of future expected payments of the renegotiated loan is less than the current principal balance, or at such time that the Company is party to foreclosure or bankruptcy proceedings associated with the borrower and does not expect to recover the principal balance of the loan. A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property. As of December 31, 2018 2017 (Dollars In Thousands) Beginning balance $ — $ 724 Charge offs — (6,708 ) Recoveries (209 ) (731 ) Provision 1,505 6,715 Ending balance $ 1,296 $ — It is the Company’s policy to cease accruing interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is the Company’s general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. For loans subject to a pooling and servicing agreement, there are certain additional restrictions and/or requirements related to workout proceedings, and as such, these loans may have different attributes and/or circumstances affecting the status of delinquency or categorization of those in nonperforming status. An analysis of the delinquent loans is shown in the following chart: 30 - 59 Days Delinquent 60 - 89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) As of December 31, 2018 Commercial mortgage loans $ 1,044 $ — $ 1,234 $ 2,278 Number of delinquent commercial mortgage loans 4 — 1 5 As of December 31, 2017 Commercial mortgage loans $ 1,817 $ — $ — $ 1,817 Number of delinquent commercial mortgage loans 2 — — 2 The Company’s commercial mortgage loan portfolio consists of mortgage loans that are collateralized by real estate. Due to the collateralized nature of the loans, any assessment of impairment and ultimate loss given a default on the loans is based upon a consideration of the estimated fair value of the real estate. The Company limits accrued interest income on impaired loans to ninety days of interest. Once accrued interest on the impaired loan is received, interest income is recognized on a cash basis. For information regarding impaired loans, please refer to the following chart: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income (Dollars In Thousands) As of December 31, 2018 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 5,684 5,309 1,296 1,895 267 293 As of December 31, 2017 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded — — — — — — Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2018 and December 31, 2017 were as follows: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) As of December 31, 2018 Troubled debt restructuring: Commercial mortgage loans 1 $ 2,688 $ 1,742 As of December 31, 2017 Troubled debt restructuring: Commercial mortgage loans 1 $ 418 $ 418

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	12 Months Ended
	Dec. 31, 2018
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED Deferred Policy Acquisition Costs The balances and changes in DAC are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 837,785 $ 572,328 Capitalization of commissions, sales, and issue expenses 446,468 333,250 Amortization (133,337 ) (52,559 ) Change due to unrealized investment gains and losses 56,153 (15,234 ) Implementation of ASU 2014-09 138,434 — Balance, end of period $ 1,345,503 $ 837,785 Value of Business Acquired The balances and changes in VOBA are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 1,361,792 $ 1,447,501 Acquisitions 336,862 — Amortization (92,471 ) (25,662 ) Change due to unrealized investment gains and losses 71,468 (60,047 ) Balance, end of period $ 1,677,651 $ 1,361,792 Based on the balance recorded as of December 31, 2018 , the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2019 $ 139,662 2020 128,465 2021 114,081 2022 104,147 2023 94,740

GOODWILL

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

CERTAIN NONTRADITIONAL LONG-DUR

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	12 Months Ended
	Dec. 31, 2018
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS The Company issues variable universal life and VA products through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder. The Company also offers, for our VA products, certain GMDB. The most significant of these guarantees involve 1) return of the highest anniversary date account value, or 2) return of the greater of the highest anniversary date account value or the last anniversary date account value compounded at 5% interest or 3) return of premium. The GLWB rider provides the contract holder with protection against certain adverse market impacts on the amount they can withdraw and is classified as an embedded derivative and is carried at fair value on the Company’s balance sheet. The VA separate account balances subject to GLWB were $8.4 billion and $9.7 billion as of December 31, 2018 and 2017, respectively. For more information regarding the valuation of and income impact of GLWB, please refer to Note 2, Summary of Significant Accounting Policies , Note 6, Fair Value of Financial Instruments , and Note 7, Derivative Financial Instruments . The GMDB reserve is calculated by applying a benefit ratio, equal to the present value of total expected GMDB claims divided by the present value of total expected contract assessments, to cumulative contract assessments. This amount is then adjusted by the amount of cumulative GMDB claims paid and accrued interest. Assumptions used in the calculation of the GMDB reserve were as follows: mean investment performance of 6.51% , age-based mortality from the Ruark 2015 ALB table adjusted for company and industry experience, lapse rates determined by a dynamic formula, and an average discount rate of 4.8% . Changes in the GMDB reserve are included in benefits and settlement expenses in the accompanying consolidated statements of income. The VA separate account balances subject to GMDB were $11.8 billion and $13.7 billion as of December 31, 2018 and 2017, respectively. The total GMDB amount payable based on VA account balances as of December 31, 2018 , was $340.6 million (including $274.4 million in the Annuities segment and $66.2 million in the Acquisitions segment) with a GMDB reserve of $39.2 million and $5.1 million in the Annuities and Acquisitions segment, respectively. The average attained age of contract holders as of December 31, 2018 for the Company was 71 years . These amounts exclude certain VA business which has been 100% reinsured to Commonwealth Annuity and Life Insurance Company (formerly known as Allmerica Financial Life Insurance and Annuity Company) (“CALIC”), under a Modco agreement. The guaranteed amount payable associated with the annuities reinsured to CALIC was $12.3 million and is included in the Acquisitions segment. The average attained age of contract holders as of December 31, 2018 , was 68 years . Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 34,083 $ 34,796 $ 36,427 Incurred guarantee benefits 13,619 902 678 Less: Paid guarantee benefits 3,381 1,615 2,309 Ending balance $ 44,321 $ 34,083 $ 34,796 Account balances of variable annuities with guarantees invested in VA separate accounts are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Equity mutual funds $ 5,300,024 $ 8,914,637 Fixed income mutual funds 6,568,575 4,820,349 Total $ 11,868,599 $ 13,734,986 Certain of the Company’s fixed annuities and universal life products have a sales inducement in the form of a retroactive interest credit (“RIC”). In addition, certain annuity contracts provide a sales inducement in the form of a bonus interest credit. The Company maintains a reserve for all interest credits earned to date. The Company defers the expense associated with the RIC and bonus interest credits each period and amortizes these costs in a manner similar to that used for DAC. Activity in the Company’s deferred sales inducement asset was as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Deferred asset, beginning of period $ 30,956 $ 22,497 $ 11,756 Amounts deferred 13,336 14,246 16,212 Amortization (4,715 ) (5,787 ) (5,471 ) Deferred asset, end of period $ 39,577 $ 30,956 $ 22,497

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company reinsures certain of its risks with (cedes), and assumes risks from, other insurers under yearly renewable term, coinsurance, and modified coinsurance agreements. Under yearly renewable term agreements, the Company reinsures only the mortality risk, while under coinsurance the Company reinsures a proportionate share of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate share of the premiums less commissions and is liable for a corresponding share of all benefit payments. Modified coinsurance is accounted for in a manner similar to coinsurance except that the liability for future policy benefits is held by the ceding company, and settlements are made on a net basis between the companies. Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to us under the terms of the reinsurance agreements. The Company monitors the concentration of credit risk the Company has with any reinsurer, as well as the financial condition of its reinsurers. As of December 31, 2018 , the Company had reinsured approximately 34% of the face value of its life insurance in-force. The Company has reinsured approximately 15% of the face value of its life insurance in-force with the following three reinsurers: • Security Life of Denver Insurance Co. (currently administered by Hannover Re) • Swiss Re Life & Health America Inc. • The Lincoln National Life Insurance Co. (currently administered by Swiss Re Life & Health America Inc.) The Company has not experienced any credit losses for the years ended December 31, 2018 , 2017 , or 2016 related to these reinsurers. The Company has set limits on the amount of insurance retained on the life of any one person. The amount of insurance retained by the Company on any one life on traditional life insurance was $500,000 in years prior to mid-2005. In 2005, this retention amount was increased to $1,000,000 for certain policies, and during 2008 it was increased to $2,000,000 for certain policies. During 2016, the retention amount was increased to $5,000,000 . Reinsurance premiums, commissions, expense reimbursements, benefits, and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. The cost of reinsurance related to short-duration contracts is accounted for over the reinsurance contract period. Amounts recoverable from reinsurers, for both short-and long-duration reinsurance arrangements, are estimated in a manner consistent with the claim liabilities and policy benefits associated with reinsured policies. The following table presents the net life insurance in-force: As of December 31, 2018 2017 (Dollars In Thousands) Direct life insurance in-force $ 765,986,223 $ 751,512,468 Amounts assumed from other companies 135,407,408 110,205,190 Amounts ceded to other companies (302,149,614 ) (328,377,398 ) Net life insurance in-force $ 599,244,017 $ 533,340,260 Percentage of amount assumed to net 23 % 21 % The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount (Dollars In Thousands) For The Year Ended December 31, 2018: Premiums and policy fees: Life insurance $ 2,681,191 $ (1,173,194 ) $ 626,283 $ 2,134,280 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 308,634 (181,621 ) 4,883 131,896 Total $ 3,036,853 $ (1,384,941 ) $ 643,992 $ 2,295,904 December 31, 2017: Premiums and policy fees: Life insurance $ 2,655,846 $ (1,151,175 ) $ 435,113 $ 1,939,784 (1) Accident/health insurance 51,991 (33,051 ) 14,945 33,885 Property and liability insurance 309,848 (176,509 ) 9,676 143,015 Total $ 3,017,685 $ (1,360,735 ) $ 459,734 $ 2,116,684 December 31, 2016: Premiums and policy fees: Life insurance $ 2,610,682 $ (1,126,915 ) $ 454,999 $ 1,938,766 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 261,009 (150,866 ) 5,726 115,869 Total $ 2,929,767 $ (1,314,716 ) $ 478,164 $ 2,093,215 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $160.4 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. As of December 31, 2018 and 2017 , policy and claim reserves relating to insurance ceded of $4.7 billion and $5.1 billion , respectively, are included in reinsurance receivables. Should any of the reinsurers be unable to meet its obligation at the time of the claim, the Company would be obligated to pay such claims. As of December 31, 2018 and 2017 , the Company had paid $115.8 million and $96.6 million , respectively, of ceded benefits which are recoverable from reinsurers. In addition, as of December 31, 2018 and 2017 , the Company had receivables of $64.8 million and $65.1 million , respectively, related to insurance assumed. The Company’s third party reinsurance receivables amounted to $4.8 billion and $5.1 billion as of December 31, 2018 and 2017 , respectively. These amounts include ceded reserve balances and ceded benefit payments. The ceded benefit payments are recoverable from reinsurers. The following table sets forth the receivables attributable to our more significant reinsurance partners: As of December 31, 2018 2017 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) Security Life of Denver Insurance Company $ 722.2 A $ 740.8 A Swiss Re Life & Health America, Inc. 603.8 A+ 614.8 A+ Lincoln National Life Insurance Co. 461.1 A+ 489.1 A+ SCOR Global Life (1) 317.2 A+ 331.8 A+ Transamerica Life Insurance Co. 301.0 A+ 335.6 A+ RGA Reinsurance Company 260.5 A+ 278.3 A+ American United Life Insurance Company 242.8 A+ 266.7 A+ Centre Reinsurance (Bermuda) Ltd 197.4 NR 212.2 NR The Canada Life Assurance Company 188.2 A+ 186.1 A+ Employers Reassurance Corporation 178.4 B+ 193.9 A- (1) Includes SCOR Global Life Americas Reinsurance Company, SCOR Global Life USA Reinsurance Co, and SCOR Global Life Reinsurance Co of Delaware The Company’s reinsurance contracts typically do not have a fixed term. In general, the reinsurers’ ability to terminate coverage for existing cessions is limited to such circumstances as material breach of contract or non-payment of premiums by the ceding company. The reinsurance contracts generally contain provisions intended to provide the ceding company with the ability to cede future business on a basis consistent with historical terms. However, either party may terminate any of the contracts with respect to future business upon appropriate notice to the other party. Generally, the reinsurance contracts do not limit the overall amount of the loss that can be incurred by the reinsurer. The amount of liabilities ceded under contracts that provide for the payment of experience refunds is immaterial.

DEBT AND OTHER OBLIGATIONS

DEBT AND OTHER OBLIGATIONS	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT AND OTHER OBLIGATIONS	DEBT AND OTHER OBLIGATIONS Debt and Subordinated Debt Securities Debt and subordinated debt securities are summarized as follows: As of December 31, 2018 2017 Outstanding Principal Carrying Amounts Outstanding Principal Carrying Amounts (Dollars In Thousands) Debt (year of issue): Credit Facility $ — $ — $ — $ — Capital lease obligation 1,319 1,319 1,682 1,682 6.40% Senior Notes (2007), due 2018 — — 150,000 150,518 7.375% Senior Notes (2009), due 2019 400,000 416,469 400,000 435,806 8.45% Senior Notes (2009), due 2039 190,044 288,547 232,928 357,046 4.30% Senior Notes (2018), due 2028 400,000 395,492 — — $ 991,363 $ 1,101,827 $ 784,610 $ 945,052 Subordinated debt (year of issue): 5.35% Subordinated Debentures (2017), due 2052 $ 500,000 $ 495,426 $ 500,000 $ 495,289 3.55% Subordinated Funding Obligations (2018), due 2038 55,000 55,000 — — 3.55% Subordinated Funding Obligations (2018), due 2038 55,000 55,000 — — $ 610,000 $ 605,426 $ 500,000 $ 495,289 The Company’s future maturities of debt, excluding notes payable to banks, the capital lease obligations, and subordinated debt securities, are $416.5 million in 2019 and $684.0 million thereafter. During the year ended December 31, 2018 , the Company repurchased and subsequently extinguished $65.6 million (par value - $42.9 million ) of the Company’s 8.45% Senior Notes due 2039. These repurchases resulted in a $1.8 million pre-tax gain for the Company. The gain is recorded in other income in the consolidated statements of income. During 2018, PLICO issued $110.0 million of Subordinated Funding Obligations at a rate of 3.55% due 2038. These obligations are non-recourse to the Company. During 2018, the Company issued $400.0 million of its Senior Notes at a rate of 4.30% , due 2028. These notes were issued net of a discount of $1.0 million . At issuance, these notes were carried on the Company’s balance sheet net of the discount and the associated deferred issuance expenses of $3.7 million . The Company used the net proceeds from the offering for general corporate purposes, including the repayment of amounts outstanding under our Credit Facility. During 2017, the Company issued $500.0 million of its Subordinated Debentures due 2052. At issuance, these Subordinated Debentures were carried on the Company’s balance sheet net of the associated deferred issuance expenses of $4.8 million . The Company used the net proceeds from the offering to call and redeem, at par, the entire $150.0 million of 6.00% Subordinated Debentures due 2042 and $287.5 million of 6.25% Subordinated Debentures due 2042. Under a revolving line of credit arrangement that was in effect until May 3, 2018 (the “2015 Credit Facility”), the Company had the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion .The Company had the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.25 billion . Balances outstanding under the 2015 Credit Facility accrued interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of the Company’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate , (y) 0.50% above the Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of the Company’s Senior Debt. The 2015 Credit Facility also provided for a facility fee at a rate that varies with the ratings of the Company’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The annual facility fee rate was 0.125% of the aggregate principal amount. The Credit Facility provided that the Company was liable for the full amount of any obligations for borrowings or letters of credit, including those of PLICO, under the 2015 Credit Facility. The maturity date of the 2015 Credit Facility was February 2, 2020. On May 3, 2018, the Company amended the 2015 Credit Facility (as amended, the “Credit Facility”). Under the Credit Facility, the Company has the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion . The Company has the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.5 billion . Balances outstanding under the Credit Facility accrue interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of the Company’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s Prime rate, (y) 0.50% above the Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of the Company’s Senior Debt. The Credit Facility also provided for a facility fee at a rate that varies with the ratings of the Company’s Senior Debt and that is calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The annual facility fee rate is 0.125% of the aggregate principal amount. The Credit Facility provides that the Company is liable for the full amount of any obligations for borrowings or letters of credit, including those of PLICO, under the Credit Facility. The maturity date of the Credit Facility is May 3, 2023. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2018 . The Company did not have an outstanding balance on the Credit Facility as of December 31, 2018 . The following is a summary of the Company’s estimated debt covenant calculations as of December 31, 2018 : Requirement Actual Results Consolidated net worth margin greater than or equal to $0 greater than $1 billion Debt to total capital ratio less than 40% less than 23% Non-Recourse Funding Obligations Golden Gate Captive Insurance Company On January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a Vermont special purpose financial insurance company and a wholly owned subsidiary of PLICO, and Steel City, LLC (“Steel City”), a wholly owned subsidiary of the Company, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by PLICO and WCL, a direct wholly owned subsidiary of PLICO. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City Notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLICO, WCL and the Company, meaning that none of these companies, other than Golden Gate, are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. As of December 31, 2018, the aggregate principal balance of the Steel City Notes was $1.883 billion . In connection with this transaction, the Company has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. The support agreements provide that amounts would become payable by the Company if Golden Gate’s annual general corporate expenses were higher than modeled amounts, certain reinsurance rates applicable to the subject business increase beyond modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, the Company has entered into a separate agreement to guarantee payment of certain fee amounts in connection with the credit enhancement of the Steel City Notes. As of December 31, 2018, no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate had a $1.883 billion outstanding non-recourse funding obligation as of December 31, 2018. This non-recourse funding obligation matures in 2039 and accrues interest at a fixed annual rate of 4.75% . Golden Gate II Captive Insurance Company Golden Gate II Captive Insurance Company (“Golden Gate II”), a South Carolina special purpose financial captive insurance company and a wholly owned by PLICO, had $575 million of outstanding non-recourse funding obligations as of December 31, 2018 . These outstanding non-recourse funding obligations were issued to special purpose trusts, which in turn issued securities to third parties. Certain of our affiliates own a portion of these securities. As of December 31, 2018 , securities related to $20.6 million of the outstanding balance of the non-recourse funding obligations were held by external parties and securities related to $554.4 million of the non-recourse funding obligations were held by the Company and its affiliates. The Company has entered into certain support agreements with Golden Gate II obligating the Company to make capital contributions or provide support related to certain of Golden Gate II’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate II. These support agreements provide that amounts would become payable by the Company to Golden Gate II if its annual general corporate expenses were higher than modeled amounts or if Golden Gate II’s investment income on certain investments or premium income was below certain actuarially determined amounts. The Company made a payment of $0.6 million under the Interest Support Agreement during the second quarter of 2018. In addition, certain Interest Support Agreement obligations to the Company of $4.9 million have been collateralized by PLC under the terms of that agreement. As of December 31, 2018, no payments have been received under the YRT Premium Support Agreement. Re-evaluation and, if necessary, adjustments of any support agreement collateralization amounts occur annually during the first quarter pursuant to the terms of the support agreements. During the year ended December 31, 2018 , the Company and its affiliates repurchased $38.0 million of its outstanding non-recourse funding obligations, at a discount. During the year December 31, 2017, the Company and its affiliates did no t repurchase any of its outstanding non-recourse funding obligations. Golden Gate V Vermont Captive Insurance Company On October 10, 2012, Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”), a Vermont special purpose financial insurance company, and Red Mountain, LLC (“Red Mountain”), both wholly owned subsidiaries of PLICO, entered into a 20 -year transaction to finance up to $945 million of “AXXX” reserves related to a block of universal life insurance policies with secondary guarantees issued by our direct wholly owned subsidiary PLICO and indirect wholly owned subsidiary, West Coast Life Insurance Company (“WCL”). Golden Gate V issued non-recourse funding obligations to Red Mountain, and Red Mountain issued a note with an initial principal amount of $275 million , increasing to a maximum of $945 million in 2027, to Golden Gate V for deposit to a reinsurance trust supporting Golden Gate V’s obligations under a reinsurance agreement with WCL, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of PLICO. Through the structure, Hannover Life Reassurance Company of America (“Hannover Re”), the ultimate risk taker in the transaction, provides credit enhancement to the Red Mountain note for the 20 -year term in exchange for a fee. The transaction is “non-recourse” to Golden Gate V, Red Mountain, WCL, PLICO and the Company, meaning that none of these companies are liable for the reimbursement of any credit enhancement payments required to be made. As of December 31, 2018 , the principal balance of the Red Mountain note was $670 million . Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $114.6 million and will be paid in annual installments through 2031. In connection with the transaction, the Company has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate V or Red Mountain. The support agreements provide that amounts would become payable by the Company if Golden Gate V’s annual general corporate expenses were higher than modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, the Company has entered into separate agreements to indemnify Golden Gate V with respect to material adverse changes in non-guaranteed elements of insurance policies reinsured by Golden Gate V, and to guarantee payment of certain fee amounts in connection with the credit enhancement of the Red Mountain note. As of December 31, 2018 , no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate V had a $670 million outstanding non-recourse funding obligation as of December 31, 2018 . This non-recourse funding obligation matures in 2037, has scheduled increases in principal to a maximum of $945 million , and accrues interest at a fixed annual rate of 6.25% . Non-recourse funding obligations outstanding as of December 31, 2018, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Weighted-Avg Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2)(3) $ 1,883,000 $ 1,883,000 2039 4.75 % Golden Gate II Captive Insurance Company 20,600 17,703 2052 4.99 % Golden Gate V Vermont Captive Insurance Company (2)(3) 670,000 729,454 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,340 2024 6.19 % Total $ 2,574,691 $ 2,632,497 (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of the Company. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of PLICO. (3) Fixed rate obligations Non-recourse funding obligations outstanding as of December 31, 2017, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Golden Gate Captive Insurance Company (2)(3) $ 2,014,000 $ 2,014,000 2039 4.75 % Golden Gate II Captive Insurance Company 58,600 49,787 2052 3.88 % Golden Gate V Vermont Captive Insurance Company (2)(3) 620,000 681,285 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,405 2024 6.19 % Total $ 2,693,691 $ 2,747,477 (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of the Company. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of PLICO. (3) Fixed rate obligations Letters of Credit Golden Gate III Vermont Captive Insurance Company On April 23, 2010, Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary of PLICO, entered into a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the Reimbursement Agreement, UBS issued a letter of credit (the “LOC”) to a trust for the benefit of WCL. The Reimbursement Agreement has undergone three separate amendments and restatements. The Reimbursement Agreement’s current effective date is June 25, 2014. The LOC balance reached its scheduled peak of $935 million in 2015. As of December 31, 2018 , the LOC balance was $860 million . The term of the LOC is expected to be approximately 15 years from the original issuance date. This transaction is “non-recourse” to WCL, PLICO, and the Company, meaning that none of these companies other than Golden Gate III are liable for reimbursement on a draw of the LOC. The Company has entered into certain support agreements with Golden Gate III obligating the Company to make capital contributions or provide support related to certain of Golden Gate III’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate III. Future scheduled capital contributions amount to approximately $70.0 million and will be paid in two installments with the last payment occurring in 2021. These contributions may be subject to potential offset against dividend payments as permitted under the terms of the Reimbursement Agreement. The support agreements provide that amounts would become payable by the Company to Golden Gate III if its annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate III. Pursuant to the terms of an amended and restated letter agreement with UBS, the Company has continued to guarantee the payment of fees to UBS as specified in the Reimbursement Agreement. As of December 31, 2018 , no payments have been made under these agreements. Golden Gate IV Vermont Captive Insurance Company Golden Gate IV Vermont Captive Insurance Company (“Golden Gate IV”), a Vermont special purpose financial insurance company and wholly owned subsidiary of PLICO, is party to a Reimbursement Agreement with UBS AG, Stamford Branch, as issuing lender. Under the Reimbursement Agreement, dated December 10, 2010, UBS issued an LOC in the initial amount of $270 million to a trust for the benefit of WCL. Pursuant to the terms of the Reimbursement Agreement, the LOC reached its scheduled peak amount of $790 million in 2016. As of December 31, 2018 , the LOC balance was $ 770 million . The term of the LOC is expected to be 12 years from the original issuance date (stated maturity of December 30, 2022). The LOC was issued to support certain obligations of Golden Gate IV to WCL under an indemnity reinsurance agreement, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of PLICO. This transaction is “non-recourse” to WCL, PLICO, and the Company, meaning that none of these companies other than Golden Gate IV are liable for reimbursement on a draw of the LOC. The Company has entered into certain support agreements with Golden Gate IV obligating the Company to make capital contributions or provide support related to certain of Golden Gate IV’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate IV. The support agreements provide that amounts would become payable by the Company to Golden Gate IV if its annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate IV. The Company has also entered into a separate agreement to guarantee the payments of LOC fees under the terms of the Reimbursement Agreement. As of December 31, 2018 , no payments have been made under these agreements. Secured Financing Transactions Repurchase Program Borrowings While the Company anticipates that the cash flows of its operating subsidiaries will be sufficient to meet its investment commitments and operating cash needs in a normal credit market environment, the Company recognizes that investment commitments scheduled to be funded may, from time to time, exceed the funds then available. Therefore, the Company has established repurchase agreement programs for certain of its insurance subsidiaries to provide liquidity when needed. The Company expects that the rate received on its investments will equal or exceed its borrowing rate. Under this program, the Company may, from time to time, sell an investment security at a specific price and agree to repurchase that security at another specified price at a later date. These borrowings are typically for a term less than 90 days . The market value of securities to be repurchased is monitored and collateral levels are adjusted where appropriate to protect the counterparty against credit exposure. Cash received is invested in fixed maturity securities, and the agreements provided for net settlement in the event of default or on termination of the agreements. As of December 31, 2018 , the fair value of securities pledged under the repurchase program was $451.9 million and the repurchase obligation of $418.1 million was included in the Company’s consolidated balance sheets (at an average borrowing rate of 245 basis points). During the year ended December 31, 2018 , the maximum balance outstanding at any one point in time related to these programs was $885.0 million . The average daily balance was $511.4 million (at an average borrowing rate of 184 basis points, respectively) during the year ended December 31, 2018 . During the year ended December 31, 2017, the maximum balance outstanding at any one point in time related to these programs was $988.5 million . The average daily balance was $624.7 million (at an average borrowing rate of 101 basis points) during the year ended December 31, 2017. Securities Lending The Company participates in securities lending, primarily as an investment yield enhancement, whereby securities that are held as investments are loaned out to third parties for short periods of time. The Company requires initial collateral of 102% of the market value of the loaned securities to be separately maintained. The loaned securities’ market value is monitored on a daily basis. As of December 31, 2018, securities with a market value of $72.2 million were loaned under this program. As collateral for the loaned securities, the Company receives short-term investments, which are recorded in “short-term investments” with a corresponding liability recorded in “secured financing liabilities” to account for its obligation to return the collateral. As of December 31, 2018, the fair value of the collateral related to this program was $77.2 million and the Company has an obligation to return $77.2 million of collateral to the securities borrowers. The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2018 and December 31, 2017: Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2018 (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 433,182 $ 18,713 $ — $ — $ 451,895 Mortgage loans — — — — — Total repurchase agreements and repurchase-to-maturity transactions 433,182 18,713 — — 451,895 Securities lending transactions Fixed maturity securities 71,285 — — — 71,285 Equity securities 891 — — — 891 Redeemable preferred stock — — — — — Total securities lending transactions 72,176 — — — 72,176 Total securities $ 505,358 $ 18,713 $ — $ — $ 524,071 Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2017 (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 307,633 $ — $ — $ — $ 307,633 Mortgage loans 698,974 — — — 698,974 Total repurchase agreements and repurchase-to-maturity transactions 1,006,607 — — — 1,006,607 Securities lending transactions Corporate securities 118,817 — — — 118,817 Equity securities 5,699 — — — 5,699 Redeemable preferred stock 755 — — — 755 Total securities lending transactions 125,271 — — — 125,271 Total securities $ 1,131,878 $ — $ — $ — $ 1,131,878 Interest Expense Interest expense is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Millions) Debt, subordinated debt, and subordinated funding obligations $ 66.5 $ 61.3 $ 62.1 Non-recourse funding obligations, other obligations, and repurchase agreements 172.6 171.9 163.7 Total interest expense $ 239.1 $ 233.2 $ 225.8

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company has entered into indemnity agreements with each of its current directors other than those that are employees of Dai-ichi Life that provide, among other things and subject to certain limitations, a contractual right to indemnification to the fullest extent permissible under the law. The Company has agreements with certain of its officers providing up to $10 million in indemnification. These obligations are in addition to the customary obligation to indemnify officers and directors contained in the Company’s governance documents. The Company leases administrative and marketing office space in approximately 17 cities (excluding the home office building), with most leases being for periods less than one year to nine years . The Company had rental expense of $8.3 million , $7.8 million , and $6.7 million , for the years ended December 31, 2018 , 2017, and 2016, respectively. The aggregate annualized rent was approximately $8.3 million for the year ended December 31, 2018 . The following is a schedule by year of future minimum rental payments required under these leases: Year Amount (Dollars In Thousands) 2019 $ 5,454 2020 3,707 2021 3,393 2022 3,129 2023 3,171 Thereafter 5,418 Additionally, the Company previously leased a building contiguous to its home office. The lease was renewed in December 2013 and was extended to December 2018. At the end of the lease term in December 2018, the Company purchased the building for approximately $75 million . The building is recorded in property and equipment on the consolidated balance sheet. As of December 31, 2018 and 2017 , the Company had outstanding mortgage loan commitments of $685.3 million at an average rate of 4.42% and $572.3 million at an average rate of 4.14% , respectively. Under the insurance guaranty fund laws in most states, insurance companies doing business therein can be assessed up to prescribed limits for policyholder losses incurred by insolvent companies. From time to time, companies may be asked to contribute amounts beyond prescribed limits. It is possible that the Company could be assessed with respect to product lines not offered by the Company. In addition, legislation may be introduced in various states with respect to guaranty fund assessment laws related to insurance products, including long term care insurance and other specialty products, that increases the cost of future assessments or alters future premium tax offsets received in connection with guaranty fund assessments. The Company cannot predict the amount, nature or timing of any future assessments or legislation, any of which could have a material and adverse impact on the Company’s financial condition or results of operations. A number of civil jury verdicts have been returned against insurers, broker-dealers, and other providers of financial services involving sales, refund or claims practices, alleged agent misconduct, failure to properly supervise representatives, relationships with agents or persons with whom the insurer does business, and other matters. Often these lawsuits have resulted in the award of substantial judgments that are disproportionate to the actual damages, including material amounts of punitive and non-economic compensatory damages. In some states, juries, judges, and arbitrators have substantial discretion in awarding punitive and non-economic compensatory damages which creates the potential for unpredictable material adverse judgments or awards in any given lawsuit or arbitration. Arbitration awards are subject to very limited appellate review. In addition, in some class action and other lawsuits, companies have made material settlement payments. The financial services and insurance industries in particular are also sometimes the target of law enforcement and regulatory investigations relating to the numerous laws and regulations that govern such companies. Some companies have been the subject of law enforcement or regulatory actions or other actions resulting from such investigations. The Company, in the ordinary course of business, is involved in such matters. The Company establishes liabilities for litigation and regulatory actions when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly and annual basis and updates its established liabilities, disclosures and estimates of reasonably possible losses or range of loss based on such reviews. Certain of the Company’s insurance subsidiaries, as well as certain other insurance companies for which the Company has coinsured blocks of life insurance and annuity policies, are under audit for compliance with the unclaimed property laws of a number of states. The audits are being conducted on behalf of the treasury departments or unclaimed property administrators in such states. The focus of the audits is on whether there have been unreported deaths, maturities, or policies that have exceeded limiting age with respect to which death benefits or other payments under life insurance or annuity policies should be treated as unclaimed property that should be escheated to the state. The Company is presently unable to estimate the reasonably possible loss or range of loss that may result from the audits due to a number of factors, including uncertainty as to the legal theory or theories that may give rise to liability, the early stages of the audits being conducted, and uncertainty as to whether the Company or other companies are responsible for the liabilities, if any, arising in connection with certain co-insured policies. The Company will continue to monitor the matter for any developments that would make the loss contingency associated with the audits reasonably estimable. Certain of the Company’s subsidiaries are under a targeted multi-state examination with respect to their claims paying practices and their use of the U.S. Social Security Administration’s Death Master File or similar databases (a “Death Database”) to identify unreported deaths in their life insurance policies, annuity contracts and retained asset accounts. There is no clear basis in previously existing law for requiring a life insurer to search for unreported deaths in order to determine whether a benefit is owed, and substantial legal authority exists to support the position that the prevailing industry practice was lawful. A number of life insurers, however, have entered into settlement or consent agreements with state insurance regulators under which the life insurers agreed to implement procedures for periodically comparing their life insurance and annuity contracts and retained asset accounts against a Death Database, treating confirmed deaths as giving rise to a death benefit under their policies, locating beneficiaries and paying them the benefits and interest, escheating the benefits and interest to the state if the beneficiary could not be found, and paying penalties to the state, if required. It has been publicly reported that the life insurers have paid administrative and/or examination fees to the insurance regulators in connection with the settlement or consent agreements. The Company believes that insurance regulators could demand from the Company administrative and/or examination fees relating to the targeted multi-state examination. Based on publicly reported payments by other life insurers, the Company does not believe such fees, if assessed, would have a material effect on its financial statements. Advance Trust & Life Escrow Services, LTA, as Securities Intermediary of Life Partners Position Holder Trust v. Protective Life Insurance Company, Case No. 2:18-CV-01290, is a putative class action that was filed on August 13, 2018 in the United States District Court for the Northern District of Alabama. Plaintiff alleges that PLICO required policyholders to pay unlawful and excessive cost of insurance charges. Plaintiff seeks to represent all owners of universal life and variable universal life policies issued or administered by PLICO or its predecessors that provide that cost of insurance rates are to be determined based on expectations of future mortality experience. The plaintiff seeks class certification, compensatory damages, pre-judgment and post-judgment interest, costs, and other unspecified relief. The Company is vigorously defending this matter and cannot predict the outcome of or reasonably estimate the possible loss or range of loss that might result from this litigation.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Qualified Pension Plan and Nonqualified Excess Pension Plan The Company sponsors a Qualified Pension Plan covering substantially all of its employees. Benefits are based on years of service and the employee’s compensation. Effective January 1, 2008, the Company made the following changes to its Qualified Pension Plan. These changes have been reflected in the computations within this note. • Employees hired after December 31, 2007 and any former employee hired after that date, will receive a cash balance benefit. • Employees active on December 31, 2007, with age plus years of vesting service less than 55 years will receive a final pay-based pension benefit for service through December 31, 2007, plus a cash balance benefit for service after December 31, 2007. • Employees active on December 31, 2007, with age plus years of vesting service equaling or exceeding 55 years , will receive a final pay-based pension benefit for service both before and after December 31, 2007, with a modest reduction in the formula for benefits earned after December 31, 2007. • All participants terminating employment on or after December of 2007 may elect to receive a lump sum benefit. The Company also sponsors a Nonqualified Excess Pension Plan, which is an unfunded nonqualified plan that provides defined pension benefits in excess of limits imposed on the Qualified Pension Plan by federal tax law. The following table presents the benefit obligation, fair value of plan assets, funded status, and amounts not yet recognized as components of net periodic pension costs for the Company’s defined benefit pension plan and unfunded excess benefit plan as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Qualified Pension Plan Nonqualified Excess Pension Plan Qualified Pension Plan Nonqualified Excess Benefit Plan (Dollars In Thousands) Accumulated benefit obligation, end of year $ 269,802 $ 46,299 $ 278,084 $ 50,149 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 300,423 $ 54,590 $ 265,848 $ 47,802 Service cost 13,185 1,415 12,011 1,350 Interest cost 9,830 1,436 9,846 1,480 Amendments — — — — Actuarial (gain)/loss (15,608 ) (2,001 ) 26,539 7,861 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Projected benefit obligation at end of year 288,129 47,345 300,423 54,590 Change in plan assets: Fair value of plan assets at beginning of year 260,926 — 201,843 — Actual return on plan assets (6,070 ) — 29,404 — Employer contributions (1) 18,800 8,095 43,500 3,903 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Fair value of plan assets at end of year 253,955 — 260,926 — After reflecting FASB guidance: Funded status (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in the balance sheet: Other liabilities (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in accumulated other comprehensive income: Net actuarial (gain)/loss 10,370 9,025 2,850 13,521 Prior service cost/(credit) — — — — Total amounts recognized in AOCI $ 10,370 $ 9,025 $ 2,850 $ 13,521 (1) Employer contributions are shown based on the calendar year in which contributions were made to each plan. Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan 2018 2017 2018 2017 Discount rate 4.21 % 3.55 % 3.93 % 3.26 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above Weighted-average assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018 , 2017 , and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.55 % 4.04 % 4.29 % 3.25 % 3.60 % 3.63 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above Expected long-term return on plan assets 7.00 % 7.00 % 7.25 % N/A N/A N/A The assumed discount rates used to determine the benefit obligations were based on an analysis of future benefits expected to be paid under the plans. The assumed discount rate reflects the interest rate at which an amount that is invested in a portfolio of high-quality debt instruments on the measurement date would provide the future cash flows necessary to pay benefits when they come due. To determine an appropriate long-term rate of return assumption, the Company received evaluations of market performance based on the Company’s asset allocation as provided by external consultants. Components of the net periodic benefit cost for the years ended December 31, 2018 , 2017, and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 (Dollars In Thousands) Service cost—benefits earned during the period $ 13,185 $ 12,011 $ 12,791 $ 1,415 $ 1,350 $ 1,413 Interest cost on projected benefit obligation 9,830 9,846 9,751 1,436 1,480 1,353 Expected return on plan assets (17,058 ) (13,570 ) (13,780 ) — — — Amortization of prior service cost/(credit) — — — — — — Amortization of actuarial loss/(gain) (1) — — — 969 634 178 Preliminary net periodic benefit cost 5,957 8,287 8,762 3,820 3,464 2,944 Settlement/curtailment expense (2)(3)(4) — — (964 ) 1,526 — 2,135 Total net periodic benefit cost $ 5,957 $ 8,287 $ 7,798 $ 5,346 $ 3,464 $ 5,079 (1) 2018 average remaining service period used is 9.17 years and for the unfunded excess benefit plan was 7.73 years from January 1, 2018 to June 30, 2018 and 7.87 from July 1, 2018 to December 31, 2018. (2) In 2016, the Company amended its Qualified Pension Plan to offer a limited-time opportunity of benefit payouts to eligible, terminated-vested participants (“lump sum window”). The lump sum window provided eligible, terminated-vested participants with an option to elect to receive a lump sum settlement of his or her pension benefit in December 2016 or to elect receipt of monthly pension benefits commencing in December 2016. This event triggered settlement accounting for the Company and resulted in the recognition of $1.0 million of settlement income for the twelve months ended December 31, 2016. (3) The Nonqualified Excess Pension Plan triggered settlement accounting for the year ended December 31, 2018 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost. (4) In 2016, the Board of Directors of Protective Life Corporation approved the conversion of the accrued benefit payable under the Nonqualified Excess Pension Plan as of March 31, 2016 to John D. Johns, the Company's Chairman and Chief Executive Officer at the time, into a lump sum amount. The lump sum amount is allocated to a book entry that will be treated as though it were a pay deferral account under the Company’s deferred compensation plan for officers. Mr. Johns will continue to accrue benefits as though he were accruing benefits under the Nonqualified Excess Pension Plan with respect to this continued service as an employee of the Company after March 31, 2016. The conversion event required the Company to re-measure the Nonqualified Excess Pension Plan as of May 31, 2016 and resulted in the recognition of $2.1 million in settlement expense during the twelve months ended December 31, 2016. For the Qualified Pension Plan, the Company does not expect to amortize any net actuarial loss/(gain) from other comprehensive income into net periodic benefit cost during 2019 since the net actuarial loss/(gain) subject to amortization is less than 10% of the greater of the smooth value of assets or the projected benefit obligation. For the unfunded excess benefit plan, the Company expects to amortize approximately $0.6 million of net actuarial loss from other comprehensive income into net periodic benefit cost during 2019. Estimated future benefit payments under the Qualified Pension Plan and Nonqualified Excess Pension Plan are as follows: Years Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) 2019 $ 19,544 $ 6,788 2020 20,723 5,196 2021 21,153 5,286 2022 22,538 5,583 2023 22,765 4,754 2024 - 2028 120,355 19,586 Qualified Pension Plan Assets Allocation of plan assets of the Qualified Pension Plan by category as of December 31, 2017 are as follows: Asset Category Target Allocation for 2017 2017 (1) Cash and cash equivalents 2 % 15 % Equity securities 60 55 Fixed income 38 30 Total 100 % 100 % (1) During 2017, the Company made a $43.5 million contribution to the defined benefit pension plan and allocated the contribution to cash and cash equivalents pending further analysis of its investment strategy. The plan’s investment policy was amended to allow for an actual asset allocation outside of the current target allocation until the investment strategy analysis was complete. Prior to the amendment for the $43.5 million contribution made in 2017, the defined benefit pension plan had a target asset allocation of 60% domestic equities, 38% fixed income, and 2% cash. During 2018, the Company completed an asset and liability study of its defined benefit pension plan and the associated investment portfolio. As a result, the Plan’s investment policy statement and investment portfolio were updated. These changes are reflected in the disclosures below. Allocation of plan assets of the defined benefit pension plan by category, as of December 31, 2018 are as follows: Asset Category Target Allocation for 2018 2018 Return-Seeking 60 % 61 % Liability-Hedging Fixed Income 40 39 Total 100 % 100 % The Company’s target asset allocation is designed to provide an acceptable level of risk and balance between return-seeking assets and liability-hedging fixed income assets. The weighting towards return-seeking securities is designed to help provide for an increased level of asset growth potential and liquidity. The Company’s investment policy includes various guidelines and procedures designed to ensure assets are invested in a manner necessary to meet expected future benefits earned by participants. The investment guidelines consider a broad range of economic conditions. Central to the policy are target allocation ranges (shown above) by major asset categories. The objectives of the target allocations are to maintain investment portfolios that diversify risk through prudent asset allocation parameters, achieve asset returns that meet or exceed the plans’ actuarial assumptions, and achieve asset returns that are competitive with like institutions employing similar investment strategies. The Qualified Pension Plan’s return-seeking assets are in a Russell 3000 index fund that invests in a domestic equity index collective trust managed by Northern Trust Corporation, a Spartan 500 index fund managed by Fidelity, and a Collective All Country World ex-US index fund managed by Northern Trust. The Plan’s cash is invested in a collective trust managed by Northern Trust Corporation. The Plan’s liability-hedging fixed income assets are invested in a group deposit administration annuity contract with PLICO and a Long Government Credit Bond index fund managed by BlackRock. The Northern Trust Collective All Country World ex-US index fund and the BlackRock Long Government Credit Bond index fund were added to the Plan’s investment portfolio during 2018. Plan assets of the Qualified Pension Plan by category as of December 31, 2018 and December 31, 2017, are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Asset Category Cash and cash equivalents $ 1,225 $ 39,897 Equity securities: Collective Russell 3000 equity index fund 70,599 74,511 Fidelity Spartan 500 index fund 46,300 71,632 Northern Trust ACWI ex-US Fund 41,924 — Liability-hedging fixed income: Group Deposit Administration Annuity Contract 78,707 74,886 BlackRock Long Government Credit Bond Index Fund 15,200 — Total investments 253,955 260,926 Employer contribution receivable — — Total $ 253,955 $ 260,926 The valuation methodologies used to determine the fair values reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value. The Qualified Pension Plan’s group deposit administration annuity contract with PLICO is recorded at contract value, which the Company believes approximates fair value. Contract value represents contributions made under the contract, plus interest at the contract rate, less funds used to purchase annuities. For the remaining investments, the Company determines the fair values based on quoted market prices. While the Company believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 1,225 $ — $ — $ 1,225 Equity securities 158,823 — — 158,823 Fixed income 15,200 — — 15,200 Group deposit administration annuity contract — — 78,707 78,707 Total investments $ 175,248 $ — $ 78,707 $ 253,955 The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 39,897 $ — $ — $ 39,897 Equity securities 146,143 — — 146,143 Group deposit administration annuity contract — — 74,886 74,886 Total investments $ 186,040 $ — $ 74,886 $ 260,926 For the year ended December 31, 2018 and December 31, 2017 , there were no transfers between levels. The following table presents a reconciliation of the beginning and ending balances for the fair value measurements for the year ended December 31, 2018 and for the year ended December 31, 2017, for which the Company has used significant unobservable inputs (Level 3): December 31, 2018 December 31, 2017 (Dollars In Thousands) Balance, beginning of year $ 74,886 $ 71,226 Interest income 3,821 3,660 Transfers from collective short-term investments fund — — Transfers to collective short-term investments fund — — Balance, end of year $ 78,707 $ 74,886 The following table represents the Plan’s Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input as of December 31, 2018 : Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 78,707 Contract Value Contract Rate 5.06% - 5.14% Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect the amounts reported. Qualified Pension Plan Funding Policy The Company’s funding policy is to contribute amounts to the Qualified Pension Plan sufficient to meet the minimum funding requirements of the Employee Retirement Income Security Act (“ERISA”) plus such additional amounts as the Company may determine to be appropriate from time to time. Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. Under the Pension Protection Act of 2006 (“PPA”), a plan could be subject to certain benefit restrictions if the plan’s adjusted funding target attainment percentage (“AFTAP”) drops below 80% . Therefore, the Company may make additional contributions in future periods to maintain an AFTAP of at least 80% . In general, the AFTAP is a measure of how well a plan is funded and is obtained by dividing a plan’s assets by its funding liabilities. AFTAP is based on participant data, plan provisions, plan methods and assumptions, funding credit balances, and plan assets as of the plan valuation date. Some of the assumptions and methods used to determine a plan’s AFTAP may be different from the assumptions and methods used to measure a plan’s funded status on a GAAP basis. In July of 2012, the Moving Ahead for Progress in the 21st Century Act (“MAP-21”), which includes pension funding stabilization provisions, was signed into law. These provisions establish an interest rate corridor which is designed to stabilize the segment rates used to determine funding requirements from the effects of interest rate volatility. In August of 2014, the Highway and Transportation Funding Act of 2014 (“HATFA”) was signed into law. HAFTA extends the funding relief provided by MAP-21 by delaying the interest rate corridor expansion. The funding stabilization provisions of MAP-21 and HATFA reduced the Company’s minimum required Qualified Pension Plan contributions. Since the funding stabilization provisions of MAP-21 and HATFA do not apply for Pension Benefit Guaranty Corporation (“PBGC”) reporting purposes, the Company may also make additional contributions in future periods to avoid certain PBGC reporting triggers. During the twelve months ended December 31, 2018, the Company contributed $18.8 million to the Qualified Pension Plan for the 2017 plan year. The Company has not yet determined what amount it will fund during 2019, but may contribute an amount that would eliminate the PBGC variable-rate premium payable in 2019. The Company currently estimates that amount will be between $10 million and $20 million . Other Postretirement Benefits In addition to pension benefits, the Company provides limited healthcare benefits to eligible retired employees until age 65 . This postretirement benefit is provided by an unfunded plan. As of December 31, 2018 and December 31, 2017 , the accumulated postretirement benefit obligation and projected benefit obligation were immaterial. For a closed group of retirees over age 65 , the Company provides a prescription drug benefit. As of December 31, 2018 and December 31, 2017 , the Company’s liability related to this benefit was immaterial. The Company also offers life insurance benefits for retirees from $10,000 up to a maximum of $75,000 which are provided through the payment of premiums under a group life insurance policy. This plan is partially funded at a maximum of $50,000 face amount of insurance. The benefit obligation associated with these benefits is as follows: As of December 31, Postretirement Life Insurance Plan 2018 2017 (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 10,978 $ 9,634 Service cost 153 122 Interest cost 366 354 Actuarial (gain)/loss (1,045 ) 1,347 Benefits paid (440 ) (479 ) Benefit obligation, end of year $ 10,012 $ 10,978 For the postretirement life insurance plan, the Company’s discount rate assumption used to determine the benefit obligation and the net periodic benefit cost as of December 31, 2018 , is 4.38% and 3.74% , respectively. The Company’s expected long-term rate of return assumption used to determine the net periodic benefit cost as of December 31, 2018 , is 2.75% . To determine an appropriate long-term rate of return assumption, the Company utilized 25 year average and annualized return results on the Barclay’s short treasury index. Investments of the Company’s group life insurance plan are held by Wells Fargo Bank, N.A. and are invested in a money market fund. Investments are stated at fair value and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The money market funds are valued based on historical cost, which represents fair value, at year end. This method of valuation may produce a fair value calculation that may not be reflective of future fair values. Furthermore, while the Company believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 4,854 $ — $ — $ 4,854 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,104 $ — $ — $ 5,104 For the year ended December 31, 2018 and December 31, 2017 , there were no transfers between levels. Investments are exposed to various risks, such as interest rate and credit risks. Due to the level of risk associated with investments and the level of uncertainty related to credit risks, it is at least reasonably possible that changes in risk in the near term could materially affect the amounts reported. 401(k) Plan The Company sponsors a tax-qualified 401(k) Plan (“401 (k) Plan”) which covers substantially all employees. Employee contributions are made on a before-tax basis as provided by Section 401(k) of the Internal Revenue Code or as after-tax “Roth” contributions. Employees may contribute up to 25% of their eligible annual compensation to the 401(k) Plan, limited to a maximum annual contribution amount as set periodically by the Internal Revenue Service ( $18,500 for 2018 ). The Plan also provides a “catch-up” contribution provision which permits eligible participants (age 50 or over at the end of the calendar year), to make additional contributions that exceed the regular annual contribution limits up to a limit periodically set by the Internal Revenue Service ( $6,000 for 2018 ). The Company matches the sum of all employee contributions dollar for dollar up to a maximum of 4% of an employee’s pay per year per person. All matching contributions vest immediately. For the year ended December 31, 2018 and December 31, 2017, the Company recorded an expense of $9.2 million and $8.2 million associated with 401(k) Plan matching contributions, respectively. The Company also has a supplemental matching contribution program, which is a nonqualified plan that provides supplemental matching contributions in excess of the limits imposed on qualified defined contribution plans by federal tax law. The expense recorded by the Company for this employee benefit was $1.3 million , $1.1 million , and $0.6 million , respectively, in 2018 , 2017 , and 2016 .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in the accumulated balances for each component of AOCI as of December 31, 2018 , December 31, 2017 , and December 31, 2016. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss on Derivatives Minimum Pension Benefits Liability Adjustment Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Balance, December 31, 2015 $ (1,247,065 ) $ — $ 5,931 $ (1,241,134 ) Other comprehensive income (loss) before reclassifications 602,211 688 (5,659 ) 597,240 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (2,008 ) — — (2,008 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (9,460 ) 39 800 (8,621 ) Balance, December 31, 2016 $ (656,322 ) $ 727 $ 1,072 $ (654,523 ) Other comprehensive income (loss) before reclassifications 707,298 (563 ) (15,726 ) 691,009 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 391 — — 391 Amounts reclassified from accumulated other comprehensive income (loss) (1) 642 451 501 1,594 Cumulative effect adjustments (26,135 ) 132 228 (25,775 ) Balance, December 31, 2017 $ 25,874 $ 747 $ (13,925 ) $ 12,696 Other comprehensive income (loss) before reclassifications (1,420,499 ) (1,884 ) (3,546 ) (1,425,929 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (20,751 ) — — (20,751 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 15,651 1,130 1,989 18,770 Cumulative effect adjustments (10,552 ) — — (10,552 ) Balance, December 31, 2018 $ (1,410,277 ) $ (7 ) $ (15,482 ) $ (1,425,766 ) (1) See Reclassification table below for details. (2) As of December 31, 2015, 2016, 2017 and 2018 , net unrealized losses reported in AOCI were offset by $623.0 million , $424.1 million , $(6.3) million and $613.4 million , respectively, due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income. The following tables summarize the reclassifications amounts out of AOCI for the years ended December 31, 2018, 2017, and 2016. Gains/(losses) in net income: Affected Line Item in the Consolidated Statements of Income For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivative instruments Benefits and settlement expenses, net of reinsurance ceded (1) $ (1,431 ) $ (694 ) $ (60 ) Tax (expense) benefit 301 243 21 $ (1,130 ) $ (451 ) $ (39 ) Unrealized gains and losses on available-for-sale securities Realized investment gains (losses): All other investments $ 9,912 $ 10,611 $ 32,302 Net impairment losses recognized in earnings (29,724 ) (11,742 ) (17,748 ) Tax (expense) or benefit 4,161 489 (5,094 ) $ (15,651 ) $ (642 ) $ 9,460 Pension benefits liability adjustment Other operating expenses: Amortization of net actuarial gain/(loss) $ (2,518 ) $ (634 ) $ (1,231 ) Tax (expense) or benefit 529 133 431 $ (1,989 ) $ (501 ) $ (800 ) (1) See Note 7, Derivative Financial Instruments for additional information

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective income tax rate related to continuing operations varied from the maximum federal income tax rate as follows: For The Year Ended December 31, 2018 2017 2016 Statutory federal income tax rate applied to pre-tax income 21.0 % 35.0 % 35.0 % State income taxes 4.9 0.6 0.8 Investment income not subject to tax (2.9 ) (5.0 ) (2.7 ) Prior period adjustments (2.8 ) — — Federal Tax law changes — (183.3 ) — Other 0.9 (1.6 ) 0.7 21.1 % (154.3 )% 33.8 % The annual provision for federal income tax in these financial statements differs from the annual amounts of income tax expense reported in the Company’s income tax returns. Certain significant revenues and expenses are appropriately reported in different years with respect to the financial statements and the tax returns. The components of the Company’s income tax are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Current income tax expense: Federal $ 87,276 $ 21,853 $ (50,638 ) State 8,285 4,399 3,919 Total current $ 95,561 $ 26,252 $ (46,719 ) Deferred income tax expense: Federal $ (30,629 ) $ (693,860 ) $ 240,127 State 15,725 (3,867 ) 7,560 Total deferred $ (14,904 ) $ (697,727 ) $ 247,687 The components of the Company’s net deferred income tax liability are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ 46,236 $ 209,401 Deferred compensation 126,398 138,945 Deferred policy acquisition costs 116,044 23,876 Premium on corporate debt 46,154 57,402 Net unrealized loss on investments 374,905 — Other 25,691 28,179 Valuation allowance (5,079 ) (3,951 ) 730,349 453,852 Deferred income tax liabilities: Premium receivables and policy liabilities 408,502 573,469 VOBA and other intangibles 478,526 433,321 Invested assets (other than unrealized gains (losses)) 682,637 672,549 Net unrealized gains on investments — 6,920 1,569,665 1,686,259 Net deferred income tax liability $ (839,316 ) $ (1,232,407 ) The deferred tax assets reported above include certain deferred tax assets related to nonqualified deferred compensation and other employee benefit liabilities that were assumed by AXA and they were not acquired by the Company in connection with the acquisition of MONY. The future tax deductions stemming from these liabilities will be claimed by the Company on MONY’s tax returns in its post-acquisition periods. These deferred tax assets have been estimated as of the MONY Acquisition date (and through the December 31, 2018 reporting date) based on all available information. However, it is possible that these estimates may be adjusted in future reporting periods based on actuarial changes to the projected future payments associated with these liabilities. Any such adjustments will be recognized by the Company as an adjustment to income tax expense during the period in which they are realized. On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The legislation significantly changes U.S. tax law by, among other things, lowering the corporate income tax rate. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% and changes to tax law related to the deductibility of certain deferred tax assets under the Tax Reform Act, we revalued our ending net deferred tax liabilities at December 31, 2017, and recognized a provisional $797.6 million tax benefit in our consolidated statement of income for the year ended December 31, 2017. As a result of the prior period adjustment to deferred tax liabilities, as discussed in Note 1, Basis of Presentation , the Company recorded an additional $10.7 million for the year ended December 31, 2018. Also on December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act. The Company recognized the provisional tax impacts based on reasonable estimates made by the Company as to the effects of tax reform on deferred assets due to the application and interpretation of Section 162(m) and included those amounts in its consolidated financial statements for the year ended December 31, 2017. The accounting was completed by December 22, 2018 and there were no material adjustments to the provisional tax benefit. In management’s judgment, the gross deferred income tax asset as of December 31, 2018 will more likely than not be fully realized. The Company has recognized a valuation allowance of $6.4 million and $5.0 million as of December 31, 2018 and December 31, 2017 , respectively, related to state-based future deductible temporary differences that it has determined are more likely than not to expire unutilized. This resulting unfavorable change of $1.4 million , before federal income taxes, increased state income tax expense in 2018 by the same amount. At December 31, 2018 , the Company has non-life net operating loss carryforwards for federal income tax purposes of $135.4 million , which are available to offset future non-life group federal taxable income (and life group taxable income with limitations) and begin to expire in 2036. In addition, included in the deferred income tax assets above are approximately $19.7 million in state net operating loss carryforwards attributable to certain jurisdictions, which are available to offset future tax in the respective state jurisdictions, expiring between 2019 and 2038. As of December 31, 2018 and December 31, 2017 , some of the Company’s fixed maturities were reported at an unrealized loss, although the net amount is an unrealized gain at December 31, 2018. If the Company were to realize a tax-basis net capital loss for a year, then such loss could not be deducted against that year’s other taxable income. However, such a loss could be carried back and forward against any prior year or future year tax-basis net capital gains. Therefore, the Company has relied upon a prudent and feasible tax-planning strategy regarding its fixed maturities that were reported at an unrealized loss. The Company has the ability and the intent to either hold such fixed maturities to maturity, thereby avoiding a realized loss, or to generate an offsetting realized gain from unrealized gain fixed maturities if such unrealized loss fixed maturities are sold at a loss prior to maturity. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: As of December 31, 2018 2017 2016 (Dollars In Thousands) Balance, beginning of period $ 11,353 $ 9,856 $ 13,138 Additions for tax positions of the current year — 1,857 2,122 Additions for tax positions of prior years — 70 1,318 Reductions of tax positions of prior years: Changes in judgment (4,219 ) (430 ) (975 ) Settlements during the period — — (5,747 ) Lapses of applicable statute of limitations — — — Balance, end of period $ 7,134 $ 11,353 $ 9,856 Included in the end of period balance above, As of December 31, 2018 , there were no unrecognized tax benefits for which the ultimate deductibility is certain but for which there is uncertainty about the timing of such deductions. As of December 31, 2017 and 2016, there were approximately $0.7 million , and $0.7 million of such unrecognized tax benefits. Other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective income tax rate but would accelerate to an earlier period the payment of cash to the taxing authority. The total amount of unrecognized tax benefits, if recognized, that would affect the effective income tax rate is approximately $7.1 million , $10.7 million , and $9.2 million for the years ended December 31, 2018 , 2017, and 2016, respectively. Any accrued interest related to the unrecognized tax benefits and other accrued income taxes have been included in income tax expense. These amounts were a $0.04 million detriment, a $2.4 million benefit, and a $3.1 million benefit for the years ended December 31, 2018 , 2017, and 2016, respectively. The Company has approximately $0.3 million , $(1.1) million , and $2.8 million of accrued interest associated with unrecognized tax benefits as of December 31, 2018 , 2017 , and 2016, respectively (before taking into consideration the related income tax benefit that is associated with such an expense). In June 2012, the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable incomes. The Company protested certain unfavorable adjustments and sought resolution at the IRS’ Appeals Division. In October 2015, Appeals accepted the Company’s earlier proposed settlement offer. In September 2015, the IRS proposed favorable and unfavorable adjustments to the Company’s 2008 through 2011 reported taxable income. The Company agreed to these adjustments. In April 2017, a routine review by Congress’ Joint Committee on Taxation was finalized without change and the Company received an approximate $6.2 million net refund in the fourth quarter of 2017. The resulting net adjustment to the Company’s current income taxes for the years 2003 through 2011 did not materially affect the Company or its effective tax rate. In July 2016, the IRS proposed favorable and unfavorable adjustments to the Company’s 2012 and 2013 reported taxable income. The Company agreed to these adjustments. The resulting settlement paid in September 2016 did not materially impact the Company or its effective tax rate. These agreements with the IRS are the primary cause for the reductions of unrecognized tax benefits shown in the above chart. The Company believes that in the next 12 months, none of the unrecognized tax benefits will be reduced. In general, the Company is no longer subject to income tax examinations by taxing authorities for tax years that began before 2014. Due to the aforementioned IRS adjustments to the Company’s pre-2014 taxable income, the Company has amended certain of its 2003 through 2013 state income tax returns. Such amendments will cause such years to remain open, pending the states’ acceptances of the returns.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash paid / (received) during the year: Interest on debt $ 260,241 $ 253,708 $ 234,928 Income taxes (26,856 ) (14,163 ) 112,886 Total cash interest paid on debt for the year ended December 31, 2018 , was $260.2 million . Of this amount, $56.7 million related to interest on debt, $29.3 million related to interest on subordinated debt and subordinated funding obligations, $9.3 million on repurchase agreements, and $164.9 million related to non-recourse funding obligations and other obligations.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Certain corporations with which the Company’s directors were affiliated paid us premiums and policy fees or other amounts for various types of insurance and investment products, interest on bonds we own and commissions on securities underwriting in which our affiliates participated. Such amounts totaled $6.8 million , $6.8 million , and $7.2 million for the years ended December 31, 2018 , 2017, and 2016, respectively. The Company paid commissions, interest on debt and investment products, and fees to these same corporations totaling $2.3 million , $2.4 million , and $2.7 million for the years ended December 31, 2018 , 2017, and 2016, respectively. Prior to the Merger, the Company had no related party transactions with Dai-ichi Life. During the periods ending December 31, 2018 and December 31, 2017, the Company paid a management fee to Dai-ichi Life of $12.2 million and $10.9 million for certain services provided to the Company, respectively. The Company paid $140.0 million and $143.8 million of dividends during the year ended December 31, 2018 and December 31, 2017, respectively, to its parent, Dai-ichi Life. The Company has guaranteed PLICO’s obligations for borrowings or letters of credit under the revolving line of credit arrangement to which the Company is also a party. The Company has also issued guarantees, entered into support agreements and/or assumed a duty to indemnify its indirect wholly owned captive insurance companies in certain respects. The Company guaranteed the obligations of PLICO under a synthetic lease entered into by PLICO, as lessee, with a non-affiliated third party, as lessor. Under the terms of the synthetic lease, financing of $75 million was available to PLICO for construction of an office building and parking deck which was completed on February 1, 2000. The synthetic lease was amended and restated as of December 19, 2013 and was extended to December 2018. At the end of the lease term, the Company purchased the building for approximately $75 million. The Company has agreements with certain of its subsidiaries under which it supplies investment, legal and data processing services on a fee basis and provides other managerial and administrative services on a shared cost basis. Such other managerial and administrative services include but are not limited to accounting, financial reporting, compliance services, reinsurance administration, tax reporting, reserve computation, and projections. The Company has an intercompany capital support agreement with Shades Creek Captive Insurance Company (“Shades Creek”), a direct wholly owned subsidiary. The agreement provides through a guarantee that the Company will contribute assets or purchase surplus notes (or cause an affiliate or third party to contribute assets or purchase surplus notes) in amounts necessary for Shades Creek’s regulatory capital levels to equal or exceed minimum thresholds as defined by the agreement. As of December 31, 2018 , Shades Creek maintained capital levels in excess of the required minimum thresholds. The maximum potential future payment amount which could be required under the capital support agreement will be dependent on numerous factors, including the performance of equity markets, the level of interest rates, performance of associated hedges, and related policyholder behavior.

STATUTORY REPORTING PRACTICES A

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2018
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS The Company’s insurance subsidiaries prepare statutory financial statements for regulatory purposes in accordance with accounting practices prescribed by the NAIC and the applicable state insurance department laws and regulations. These financial statements vary materially from GAAP. Statutory accounting practices include publications of the NAIC, state laws, regulations, general administrative rules as well as certain permitted accounting practices granted by the respective state insurance department. Generally, the most significant differences are that statutory financial statements do not reflect 1) deferred acquisition costs and VOBA, 2) benefit liabilities that are calculated using Company estimates of expected mortality, interest, and withdrawals, 3) deferred income taxes that are not subject to statutory limits, 4) recognition of realized gains and losses on the sale of securities in the period they are sold, and 5) fixed maturities recorded at fair values, but instead at amortized cost. Statutory net income (loss) for PLICO was $321.1 million , $731.2 million , and $(391.6) million for the years ended December 31, 2018 , 2017 and 2016 , respectively. Statutory capital and surplus for PLICO was $4.3 billion and $4.3 billion as of December 31, 2018 and 2017 , respectively. The Statutory net loss incurred by PLICO for the year ended December 31, 2016 was caused by the required Statutory accounting treatment of the initial gain recognized on the retrocession of the term business assumed from Genworth Life and Annuity Insurance Company to Golden Gate Captive Insurance Company, which resulted in approximately a $1.2 billion gain being included as a component of surplus, rather than reflected in Statutory net income as of the January 15, 2016 cession date. The Company’s insurance subsidiaries are subject to various state statutory and regulatory restrictions on the insurance subsidiaries’ ability to pay dividends to Protective Life Corporation. In general, dividends up to specified levels are considered ordinary and may be paid without prior approval of the insurance commissions of the state of domicile. Dividends in larger amounts are considered extraordinary and are subject to affirmative prior approval by such commissioner. The maximum amount that would qualify as ordinary dividends to the Company from our insurance subsidiaries, and which would consequently be free from restriction and available for the payment of dividends to the Company’s shareowner in 2019 is approximately $434.0 million . This results in approximately $5.3 billion of the Company’s net assets being restricted from transfer to PLC without prior approval from the respective state insurance department. State insurance regulators and the National Association of Insurance Commissioners (“NAIC”) have adopted risk-based capital (“RBC”) requirements for life insurance companies to evaluate the adequacy of statutory capital and surplus in relation to investment and insurance risks. The requirements provide a means of measuring the minimum amount of statutory surplus appropriate for an insurance company to support its overall business operations based on its size and risk profile. Additionally, the Company has certain assets that are on deposit with state regulatory authorities and restricted from use. As of December 31, 2018 , the Company’s insurance subsidiaries had on deposit with regulatory authorities, fixed maturity and short-term investments with a fair value of approximately $40.8 million . The states of domicile of the Company’s insurance subsidiaries have adopted prescribed accounting practices that differ from the required accounting outlined in NAIC Statutory Accounting Principles (“SAP”). The insurance subsidiaries also have certain accounting practices permitted by the states of domicile that differ from those found in NAIC SAP. Certain prescribed practices impact the statutory surplus of PLICO, the Company’s primary operating subsidiary. These practices include the non-admission of goodwill as an asset for statutory reporting. The favorable (unfavorable) effects of PLICO’s statutory surplus, compared to NAIC statutory surplus, from the use of this prescribed practices was as follows: As of December 31, 2018 2017 (Dollars In Millions) Non-admission of goodwill $ (181 ) $ (219 ) Total (net) $ (181 ) $ (219 ) The Company also has certain prescribed and permitted practices which are applied at the subsidiary level and do not have a direct impact on the statutory surplus of PLICO. These practices include permission to follow the actuarial guidelines of the domiciliary state of the ceding insurer for certain captive reinsurers, accounting for the face amount of all issued, and outstanding letters of credit and notes issued by an affiliate as assets in the statutory financial statements of certain wholly owned subsidiaries that are considered “Special Purpose Financial Captives”, and a reserve difference related to a captive insurance company. The favorable (unfavorable) effects on the statutory surplus of the Company’s insurance subsidiaries, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows: As of December 31, 2018 2017 (Dollars In Millions) Accounting for Letters of Credit as admitted assets $ 1,630 $ 1,670 Accounting for certain notes as admitted assets $ 2,553 $ 2,634 Reserving based on state specific actuarial practices $ 121 $ 122 Reserving difference related to a captive insurance company $ (50 ) $ (37 )

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
OPERATING SEGMENTS	OPERATING SEGMENTS The Company has several operating segments, each having a strategic focus. An operating segment is distinguished by products, channels of distribution, and/or other strategic distinctions. The Company periodically evaluates its operating segments and makes adjustments to its segment reporting as needed. A brief description of each segment follows. • The Life Marketing segment markets fixed UL, IUL, VUL, BOLI, and level premium term insurance (“traditional”) products on a national basis primarily through networks of independent insurance agents and brokers, broker-dealers, financial institutions, independent distribution organizations, and affinity groups. • The Acquisitions segment focuses on acquiring, converting, and servicing policies and contracts acquired from other companies. The segment’s primary focus is on life insurance policies and annuity products that were sold to individuals. The level of the segment’s acquisition activity is predicated upon many factors, including available capital, operating capacity, potential return on capital, and market dynamics. Policies acquired through the Acquisitions segment are typically blocks of business where no new policies are being marketed. Therefore earnings and account values are expected to decline as the result of lapses, deaths, and other terminations of coverage unless new acquisitions are made. • The Annuities segment markets fixed and VA products. These products are primarily sold through broker-dealers, financial institutions, and independent agents and brokers. • The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. This segment also issues funding agreements to the FHLB, and markets GICs to 401(k) and other qualified retirement savings plans. The Company also has an unregistered funding agreement-backed notes program which provides for offers of notes to both domestic and international institutional investors. • The Asset Protection segment markets extended service contracts, GAP products, credit life and disability insurance, and other specialized ancillary products to protect consumers’ investments in automobiles, recreational vehicles, watercraft, and powersports. GAP covers the difference between the loan pay-off amount and an asset’s actual cash value in the case of a total loss. Each type of specialized ancillary product protects against damage or other loss to a particular aspect of the underlying asset. • The Corporate and Other segment primarily consists of net investment income on assets supporting our equity capital, unallocated corporate overhead and expenses not attributable to the segments above (including interest on corporate debt). This segment includes earnings from several non-strategic or runoff lines of business, various financing and investment related transactions, and the operations of several small subsidiaries. The Company’s management and Board of Directors analyzes and assesses the operating performance of each segment using “pre-tax adjusted operating income (loss)” and “after-tax adjusted operating income (loss)”. Consistent with GAAP accounting guidance for segment reporting, pre-tax adjusted operating income (loss) is the Company’s measure of segment performance. Pre-tax adjusted operating income (loss) is calculated by adjusting “income (loss) before income tax,” by excluding the following items: • realized gains and losses on investments and derivatives, • changes in the GLWB embedded derivatives exclusive of the portion attributable to the economic cost of the GLWB, • actual GLWB incurred claims, and • the amortization of DAC, VOBA, and certain policy liabilities that is impacted by the exclusion of these items. The items excluded from adjusted operating income (loss) are important to understanding the overall results of operations. Pre-tax adjusted operating income (loss) and after-tax adjusted operating income (loss) are not substitutes for income before income taxes or net income (loss), respectively. These measures may not be comparable to similarly titled measures reported by other companies. The Company believes that pre-tax and after-tax adjusted operating income (loss) enhances management’s and the Board of Directors’ understanding of the ongoing operations, the underlying profitability of each segment, and helps facilitate the allocation of resources. After-tax adjusted operating income (loss) is derived from pre-tax adjusted operating income (loss) with the inclusion of income tax expense or benefits associated with pre-tax adjusted operating income. Income tax expense or benefits is allocated to the items excluded from pre-tax adjusted operating income (loss) at the statutory federal income tax rate for the associated period. For periods ending on and prior to December 31, 2017, a rate of 35% was used. Beginning in 2018, a statutory federal income tax rate of 21% was used to allocate income tax expense or benefits to items excluded from pre-tax adjusted operating income (loss). Income tax expense or benefits allocated to after-tax adjusted operating income (loss) can vary period to period based on changes in the Company’s effective income tax rate. In determining the components of the pre-tax adjusted operating income (loss) for each segment, premiums and policy fees, other income, benefits and settlement expenses, and amortization of DAC and VOBA are attributed directly to each operating segment. Net investment income is allocated based on directly related assets required for transacting the business of that segment. Realized investment gains (losses) and other operating expenses are allocated to the segments in a manner that most appropriately reflects the operations of that segment. Investments and other assets are allocated based on statutory policy liabilities net of associated statutory policy assets, while DAC/VOBA and goodwill are shown in the segments to which they are attributable. There were no significant intersegment transactions during the year ended December 31, 2018 , 2017, and 2016. The following tables present a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Life Marketing $ 1,689,795 $ 1,667,118 $ 1,627,848 Acquisitions 2,027,195 1,569,083 1,676,017 Annuities 545,922 450,306 574,934 Stable Value Products 219,501 190,006 114,580 Asset Protection 310,243 327,573 269,145 Corporate and Other 248,298 214,706 221,423 Total revenues $ 5,040,954 $ 4,418,792 $ 4,483,947 Pre-tax Adjusted Operating Income (Loss) Life Marketing $ (19,376 ) $ 50,778 $ 39,745 Acquisitions 282,715 249,749 260,511 Annuities 167,186 213,080 213,293 Stable Value Products 102,328 105,261 61,294 Asset Protection 29,911 24,356 16,487 Corporate and Other (84,229 ) (136,332 ) (87,961 ) Pre-tax adjusted operating income 478,535 506,892 503,369 Realized gains (losses) on investments and derivatives (95,517 ) (71,835 ) 90,628 Income before income tax 383,018 435,057 593,997 Income tax expense (benefit) 80,657 (671,475 ) 200,968 Net income $ 302,361 $ 1,106,532 $ 393,029 Pre-tax adjusted operating income $ 478,535 $ 506,892 $ 503,369 Adjusted operating income tax (expense) benefit (100,716 ) 646,333 (169,247 ) After-tax adjusted operating income 377,819 1,153,225 334,122 Realized gains (losses) on investments and derivatives (95,517 ) (71,835 ) 90,628 Income tax benefit (expense) on adjustments 20,059 25,142 (31,721 ) Net income $ 302,361 $ 1,106,532 $ 393,029 Realized investment (losses) gains: Derivative financial instruments $ 60,988 $ (305,828 ) $ (40,288 ) All other investments (223,649 ) 121,428 90,659 Net impairment losses recognized in earnings (29,724 ) (11,742 ) (17,748 ) Less: related amortization (1) (11,856 ) (39,480 ) 24,360 Less: VA GLWB economic cost (85,012 ) (84,827 ) (82,365 ) Realized (losses) gains on investments and derivatives $ (95,517 ) $ (71,835 ) $ 90,628 (1) Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses). For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Net investment income Life Marketing $ 551,781 $ 553,999 $ 525,495 Acquisitions 1,108,218 752,520 764,571 Annuities 340,685 321,844 322,608 Stable Value Products 217,778 186,576 107,010 Asset Protection 30,457 27,325 22,082 Corporate and Other 234,831 209,324 200,690 Total net investment income $ 2,483,750 $ 2,051,588 $ 1,942,456 Amortization of DAC and VOBA Life Marketing $ 116,917 $ 120,753 $ 130,708 Acquisitions 18,690 (6,939 ) 8,178 Annuities 24,274 (54,471 ) (11,031 ) Stable Value Products 3,201 2,354 1,176 Asset Protection 62,726 16,524 20,033 Corporate and Other — — — Total amortization of DAC and VOBA $ 225,808 $ 78,221 $ 149,064 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,575,702 $ 31,859,520 $ 20,199,597 $ 5,107,334 DAC and VOBA 1,499,386 458,977 889,697 6,121 Other intangibles 262,758 31,975 156,785 7,389 Goodwill 215,254 23,862 343,247 113,924 Total assets $ 16,553,100 $ 32,374,334 $ 21,589,326 $ 5,234,768 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 1,019,297 $ 12,715,208 $ 85,476,658 DAC and VOBA 168,973 — 3,023,154 Other intangibles 122,590 31,934 613,431 Goodwill 129,224 — 825,511 Total assets $ 1,440,084 $ 12,747,142 $ 89,938,754 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,914,418 $ 19,588,133 $ 20,938,409 $ 4,569,639 DAC and VOBA 1,320,776 74,862 772,634 6,864 Other intangibles 282,361 34,548 170,117 8,056 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 16,717,829 $ 19,712,067 $ 22,217,837 $ 4,698,372 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 918,952 $ 15,043,597 $ 75,973,148 DAC and VOBA 24,441 — 2,199,577 Other intangibles 133,234 35,256 663,572 Goodwill 128,182 — 793,470 Total assets $ 1,204,809 $ 15,078,853 $ 79,629,767

CONSOLIDATED QUARTERLY RESULTS

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
CONSOLIDATED QUARTERLY RESULTS - UNAUDITED	CONSOLIDATED QUARTERLY RESULTS—UNAUDITED The Company’s unaudited consolidated quarterly operating data for the years ended December 31, 2018 and 2017 is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management’s opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowner’s equity, and cash flows for a period of several quarters. First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees $ 889,166 $ 941,868 $ 878,182 $ 971,629 Reinsurance ceded (345,423 ) (390,941 ) (269,335 ) (379,242 ) Net of reinsurance ceded 543,743 550,927 608,847 592,387 Net investment income 520,863 616,462 672,139 674,286 Realized investment gains (losses) (9,540 ) (37,337 ) (47,334 ) (68,450 ) Net impairment losses recognized in earnings (3,645 ) (5 ) (14 ) (26,060 ) Other income 114,411 113,861 113,530 111,883 Total revenues 1,165,832 1,243,908 1,347,168 1,284,046 Total benefits and expenses 1,074,034 1,145,136 1,210,449 1,228,317 Income before income tax 91,798 98,772 136,719 55,729 Income tax expense 17,686 17,277 26,619 19,075 Net income $ 74,112 $ 81,495 $ 110,100 $ 36,654 First Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2017 Premiums and policy fees $ 860,586 $ 868,139 $ 855,088 $ 893,606 Reinsurance ceded (316,076 ) (342,898 ) (325,120 ) (376,641 ) Net of reinsurance ceded 544,510 525,241 529,968 516,965 Net investment income 506,413 507,771 507,914 529,490 Realized investment gains (losses) (47,037 ) (54,471 ) (64,191 ) (18,701 ) Net impairment losses recognized in earnings (7,831 ) (2,785 ) (273 ) (853 ) Other income 109,242 111,311 110,970 115,139 Total revenues 1,105,297 1,087,067 1,084,388 1,142,040 Total benefits and expenses 992,948 961,299 973,538 1,055,950 Income before income tax 112,349 125,768 110,850 86,090 Income tax expense (benefit) 36,935 41,500 28,308 (778,218 ) Net income $ 75,414 $ 84,268 $ 82,542 $ 864,308

SUBSEQUENT EVENTS

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

SCHEDULE II - CONDENSED FINANCI

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF INCOME PROTECTIVE LIFE CORPORATION (Parent Company) For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Dividends from subsidiaries* $ 31,600 $ 261,090 $ 541,762 Service fees from subsidiaries* 250,241 285,979 250,668 Net investment income 8,417 9,457 8,607 Realized investment gains (losses) 468 (45,091 ) (29,289 ) Other income 2,211 2,049 9,828 Total revenues 292,937 513,484 781,576 Expenses Operating and administrative 123,004 182,525 143,941 Interest 63,878 61,263 60,137 Total expenses 186,882 243,788 204,078 Income before income tax and other items below 106,055 269,696 577,498 Income tax (benefit) expense Current (30,854 ) (9,441 ) 334 Deferred 45,082 46,020 20,715 Total income tax expense (benefit) 14,228 36,579 21,049 Income before equity in undistributed income from subsidiaries* 91,827 233,117 556,449 Equity (loss) in undistributed income of subsidiaries 210,534 873,415 (163,420 ) Net income $ 302,361 $ 1,106,532 $ 393,029 * Eliminated in Consolidation SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF COMPREHENSIVE INCOME (LOSS) PROTECTIVE LIFE CORPORATION (Parent Company) For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Net income $ 302,361 $ 1,106,532 $ 393,029 Total other comprehensive income (loss) $ (1,427,910 ) $ 692,994 $ 586,611 Total comprehensive income (loss) $ (1,125,549 ) $ 1,799,526 $ 979,640 * Eliminated in Consolidation SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS PROTECTIVE LIFE CORPORATION (Parent Company) As of December 31, 2018 2017 (Dollars In Thousands) Assets Fixed maturities $ 241,862 $ 140,102 Equity securities 38,176 38,861 Other long-term investments 10 10 Short-term investments 115,625 79,818 Investments in subsidiaries (equity method)* 7,289,812 8,563,201 Total investments 7,685,485 8,821,992 Cash 5,982 3,760 Receivables from subsidiaries* 24,909 38,394 Property and equipment, net 1,105 1,692 Income tax receivable — 513 Deferred income tax 30,050 103,716 Other assets 38,134 38,487 Total assets $ 7,785,665 $ 9,008,554 Liabilities Accrued expenses and other liabilities $ 411,963 $ 442,696 Income tax payable 10,034 — Debt 1,100,508 943,370 Subordinated debt securities 495,426 495,289 Total liabilities 2,017,931 1,881,355 Commitments and contingencies—Note 3 Shareowner’s equity Common stock — — Additional paid-in-capital 5,554,059 5,554,059 Retained earnings, including undistributed income of subsidiaries: (2018 - $1,102,394; 2017 - $891,860) 1,639,441 1,560,444 Accumulated other comprehensive income (loss): Net unrealized gains on investments, all from subsidiaries, net of income tax: (2018 - $(368,830); 2017 - $7,416) (1,387,504 ) 27,896 Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(6,054); 2017 - $(538)) (22,773 ) (2,022 ) Accumulated gain (loss)—derivatives, net of income tax: (2018 - $(2);2017 - $198) (7 ) 747 Postretirement benefits liability adjustment, net of income tax: (2018 - $(4,112); 2017 - $(3,469)) (15,482 ) (13,925 ) Total shareowner’s equity 5,767,734 7,127,199 Total liabilities and shareowner’s equity $ 7,785,665 $ 9,008,554 * Eliminated in Consolidation SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS PROTECTIVE LIFE CORPORATION (Parent Company) For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash flows from operating activities Net income $ 302,361 $ 1,106,532 $ 393,029 Adjustments to reconcile net income to net cash provided by operating activities: Realized investment (gains) losses (468 ) 45,091 29,289 Equity in undistributed net income of subsidiaries* (210,534 ) (873,415 ) 163,420 Depreciation expense 587 739 506 Receivables from subsidiaries* 13,485 (28,794 ) 15,181 Income tax receivable 513 10,548 2,109 Deferred income taxes 45,082 46,020 20,715 Accrued income taxes 10,034 — — Accrued expenses and other liabilities (28,209 ) (52,846 ) (33,639 ) Other, net (57,595 ) 4,226 (16,426 ) Net cash provided by operating activities 75,256 258,101 574,184 Cash flows from investing activities Sale of investments, available-for-sale 675,000 — — Cost of investments acquired, available-for-sale (776,743 ) (26,423 ) (59,025 ) Return of and/or (additional) capital investments in subsidiaries (2,600 ) 38,410 (45,762 ) Change in other long-term investments — — (10 ) Change in short-term investments (35,807 ) (79,818 ) — Purchase of property and equipment — — (1,649 ) Sales of property and equipment — (100 ) — Net cash used in investing activities (140,150 ) (67,931 ) (106,446 ) Cash flows from financing activities Borrowings under line of credit arrangements and debt 965,000 1,035,000 265,000 Principal payments on line of credit arrangements and debt (757,884 ) (1,156,498 ) (633,074 ) Dividends to shareowner (140,000 ) (143,848 ) (89,343 ) Net cash provided by (used in) financing activities 67,116 (265,346 ) (457,417 ) Change in cash 2,222 (75,176 ) 10,321 Cash at beginning of year 3,760 78,936 68,615 Cash at end of year $ 5,982 $ 3,760 $ 78,936 *Eliminated in Consolidation SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF REGISTRANT PROTECTIVE LIFE CORPORATION (Parent Company) NOTES TO CONDENSED FINANCIAL INFORMATION The Company publishes consolidated financial statements that are its primary financial statements. Therefore, this parent company condensed financial information is not intended to be the primary financial statements of the Company, and should be read in conjunction with the consolidated financial statements and notes, including the discussion of significant accounting policies, thereto of Protective Life Corporation and subsidiaries. BASIS OF PRESENTATION Nature of Operations On February 1, 2015, Protective Life Corporation (the “Company”) became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Limited, a kabushiki kaisha organized under the laws of Japan (now known as Dai-ichi Life Holdings, Inc., “Dai-ichi Life”), when Dai-ichi Life purchased all outstanding shares of the Company’s stock. Prior to February 1, 2015, and for the periods this report presents, the Company’s stock was publicly traded on the New York Stock Exchange. The Company is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The Company also maintains a separate segment devoted to the acquisition of insurance policies from other companies. Founded in 1907, Protective Life Insurance Company (“PLICO”) is the Company’s largest operating subsidiary. The accompanying condensed financial statements of the Company should be read in conjunction with the consolidated financial statements and notes thereto of Protective Life Corporation and subsidiaries included in this Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. DEBT AND OTHER OBLIGATIONS Debt and Subordinated Debt Securities Debt and subordinated debt securities are summarized as follows: As of December 31, 2018 2017 Outstanding Principal Carrying Amounts Outstanding Principal Carrying Amounts (Dollars In Thousands) Debt (year of issue): Credit Facility $ — $ — $ — $ — 6.40% Senior Notes (2007), due 2018 — — 150,000 150,518 7.375% Senior Notes (2009), due 2019 400,000 416,469 400,000 435,806 8.45% Senior Notes (2009), due 2039 190,044 288,547 232,928 357,046 4.30% Senior Notes (2018), due 2028 400,000 395,492 — — $ 990,044 $ 1,100,508 $ 782,928 $ 943,370 Subordinated debt (year of issue): 5.35% Subordinated Debentures (2017), due 2052 500,000 495,426 500,000 495,289 $ 500,000 $ 495,426 $ 500,000 $ 495,289 The Company’s future maturities of debt, excluding notes payable to banks and subordinated debt securities, are $416.5 million in 2019, and $684.0 million thereafter. During the year ended December 31, 2018, the Company repurchased and subsequently extinguished $65.6 million (par value - $42.9 million ) of the Company’s 8.45% Senior Notes due 2039. These repurchases resulted in a $1.8 million pre-tax gain for the Company. The gain is recorded in other income in the consolidated statements of income. During 2018, the Company issued $400.0 million of its Senior Notes at a rate of 4.30% , due 2028. These notes were issued net of a discount of $1.0 million . At issuance, these notes are carried on the Company’s balance sheet net of the discount and the associated deferred issuance expenses of $3.7 million . The Company used the net proceeds from the offering for general corporate purposes, including the repayment of amounts outstanding under our Credit Facility. During 2017, the Company issued $500.0 million of its Subordinated Debentures due 2052. At issuance, these Subordinated Debentures are carried on the Company’s balance sheet net of the associated deferred issuance expenses of $4.8 million . The Company used the net proceeds from the offering to call and redeem, at par, the entire $150.0 million of its 6.00% Subordinated Debentures due 2042 and $287.5 million of its 6.25% Subordinated Debentures due 2042. Under a revolving line of credit arrangement that was in effect until May 3, 2018 (the “2015 Credit Facility”), the Company had the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion . The Company had the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.25 billion . Balances outstanding under the 2015 Credit Facility accrued interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of the Company’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate, (y) 0.50% above the Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of the Company’s Senior Debt. The 2015 Credit Facility also provided for a facility fee at a rate that varies with the ratings of the Company’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The annual facility fee rate was 0.125% of the aggregate principal amount. The Credit Facility provided that the Company was liable for the full amount of any obligations for borrowings or letters of credit, including those of PLICO, under the 2015 Credit Facility. The maturity date of the 2015 Credit Facility was February 2, 2020. On May 3, 2018, the Company amended the 2015 Credit Facility (as amended, the “Credit Facility”). Under the Credit Facility, the Company has the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion . The Company has the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.5 billion . Balances outstanding under the Credit Facility accrue interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of the Company’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s Prime rate, (y) 0.50% above the Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of the Company’s Senior Debt. The Credit Facility also provided for a facility fee at a rate that varies with the ratings of the Company’s Senior Debt and that is calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The annual facility fee rate is 0.125% of the aggregate principal amount. The Credit Facility provides that the Company is liable for the full amount of any obligations for borrowings or letters of credit, including those of PLICO, under the Credit Facility. The maturity date of the Credit Facility is May 3, 2023. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2018 . The Company did not have an outstanding balance on the Credit Facility as of December 31, 2018 Interest Expense Interest expense on debt and subordinated debt securities totaled $63.9 million , $61.3 million , and $60.1 million for the years ended December 31, 2018 , 2017, and 2016, respectively. COMMITMENTS AND CONTINGENCIES The Company previously leased a building contiguous to its home office. The lease was renewed in December 2013 and was extended to December 2018. At the end of the lease term in December 2018, PLICO purchased the building for approximately $75 million . The building is recorded in property and equipment on the consolidated balance sheet. Golden Gate Captive Insurance Company On January 15, 2016, Golden Gate Captive Insurance Company (“Golden Gate”), a Vermont special purpose financial insurance company and a wholly owned subsidiary of Protective Life Insurance Company (“PLICO”), and Steel City, LLC (“Steel City”), a wholly owned subsidiary of the Company, entered into an 18 -year transaction to finance $2.188 billion of “XXX” reserves related to the acquired GLAIC Block and the other term life insurance business reinsured to Golden Gate by PLICO and West Coast Life (“WCL”), a direct wholly owned subsidiary of PLICO. Steel City issued notes with an aggregate initial principal amount of $2.188 billion to Golden Gate in exchange for a surplus note issued by Golden Gate with an initial principal amount of $2.188 billion . Through the structure, Hannover Life Reassurance Company of America (Bermuda) Ltd., The Canada Life Assurance Company (Barbados Branch) and Nomura Americas Re Ltd. (collectively, the “Risk-Takers”) provide credit enhancement to the Steel City Notes for the 18 -year term in exchange for credit enhancement fees. The transaction is “non-recourse” to PLICO, WCL and the Company, meaning that none of these companies, other than Golden Gate, are liable to reimburse the Risk-Takers for any credit enhancement payments required to be made. As of December 31, 2018, the aggregate principal balance of the Steel City Notes was $1.883 billion . In connection with this transaction, the Company has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate or Steel City, including a guarantee of the fees to the Risk-Takers. The support agreements provide that amounts would become payable by the Company if Golden Gate’s annual general corporate expenses were higher than modeled amounts, certain reinsurance rates applicable to the subject business increase beyond modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, the Company has entered into a separate agreement to guarantee payment of certain fee amounts in connection with the credit enhancement of the Steel City Notes. As of December 31, 2018, no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate had a $1.883 billion outstanding non-recourse funding obligation as of December 31, 2018. This non-recourse funding obligation matures in 2039 and accrues interest at a fixed annual rate of 4.75% . Golden Gate II Captive Insurance Company Golden Gate II Captive Insurance Company (“Golden Gate II”), a South Carolina special purpose financial captive insurance company wholly owned by PLICO, had $575 million of outstanding non-recourse funding obligations as of December 31, 2018 . These outstanding non-recourse funding obligations were issued to special purpose trusts, which in turn issued securities to third parties. Certain of our affiliates own a portion of these securities. As of December 31, 2018 , securities related to $20.6 million of the outstanding balance of the non-recourse funding obligations were held by external parties, and securities related to $554.4 million of the non-recourse funding obligations were held by the Company and our affiliates. The Company has entered into certain support agreements with Golden Gate II obligating the Company to make capital contributions or provide support related to certain of Golden Gate II’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate II. These support agreements provide that amounts would become payable by the Company to Golden Gate II if its annual general corporate expenses were higher than modeled amounts or if Golden Gate II’s investment income on certain investments or premium income was below certain actuarially determined amounts. As of December 31, 2018 , the Company made a payment of $0.6 million under the Interest Support Agreement during the second quarter of 2018. In addition, certain Interest Support Agreement obligations to the Company of $4.9 million have been collateralized by the PLC under the terms of that agreement. As of December 31, 2018, no payments have been received under the YRT Premium Support Agreement. Re-evaluation and, if necessary, adjustments of any support agreement collateralization amounts occur annually during the first quarter pursuant to the terms of the support agreements. During the year ended December 31, 2018 , the Company and its affiliates repurchased $38.0 million of its outstanding non-recourse funding obligations, at a discount. During the year ended December 31, 2017, the Company and its affliliates did not repurchase any of its outstanding non-recourse funding obligations. Golden Gate III Vermont Captive Insurance Company On April 23, 2010, Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary of PLICO, entered into a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the Reimbursement Agreement, UBS issued a letter of credit (the “LOC”) to a trust for the benefit of WCL. The Reimbursement Agreement has undergone three separate amendments and restatements. The Reimbursement Agreement’s current effective date is June 25, 2014. In accordance with the terms of the Reimbursement Agreement, the LOC balance reached its scheduled peak amount of $935 million in 2015. As of December 31, 2018, the LOC balance was $860 million . The term of the LOC is expected to be approximately 15 years from the original issuance date. This transaction is “non-recourse” to WCL, PLICO, and the Company, meaning that none of these companies other than Golden Gate III are liable for reimbursement on a draw of the LOC. The Company has entered into certain support agreements with Golden Gate III obligating the Company to make capital contributions or provide support related to certain of Golden Gate III’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate III. Future scheduled capital contributions amount to approximately $70 million and will be paid in two installments with the last payment occurring in 2021. These contributions may be subject to potential offset against dividend payments as permitted under the terms of the Reimbursement Agreement. The support agreements provide that amounts would become payable by the Company to Golden Gate III if its annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate III. Pursuant to the terms of an amended and restated letter agreement with UBS, the Company has continued to guarantee the payment of fees to UBS as specified in the Reimbursement Agreement. As of December 31, 2018 , no payments have been made under these agreements. Golden Gate IV Vermont Captive Insurance Company Golden Gate IV Vermont Captive Insurance Company (“Golden Gate IV”), a Vermont special purpose financial insurance company and wholly owned subsidiary of PLICO, is party to a Reimbursement Agreement with UBS AG, Stamford Branch, as issuing lender. Under the Reimbursement Agreement, dated December 10, 2010, UBS issued an LOC in the initial amount of $270 million to a trust for the benefit of WCL. In accordance with the terms of the terms of the Reimbursement Agreement, the LOC balance reached its scheduled peak amount of $790 million in 2016. As of December 31, 2018 , the LOC balance was $770 million . The term of the LOC is expected to be 12 years from the original issuance date (stated maturity of December 30, 2022). The LOC was issued to support certain obligations of Golden Gate IV to WCL under an indemnity reinsurance agreement, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of PLICO. This transaction is “non-recourse” to WCL, PLICO, and the Company, meaning that none of these companies other than Golden Gate IV are liable for reimbursement on a draw of the LOC. The Company has entered into certain support agreements with Golden Gate IV obligating the Company to make capital contributions or provide support related to certain of Golden Gate IV’s expenses and in certain circumstances, to collateralize certain of the Company’s obligations to Golden Gate IV. The support agreements provide that amounts would become payable by the Company to Golden Gate IV if its annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate IV. The Company has also entered into a separate agreement to guarantee the payments of LOC fees under the terms of the Reimbursement Agreement. As of December 31, 2018 , no payments have been made under these agreements. Golden Gate V Vermont Captive Insurance Company On October 10, 2012, Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”), a Vermont special purpose financial insurance company, and Red Mountain, LLC (“Red Mountain”), both wholly owned subsidiaries of PLICO, entered into a 20 -year transaction to finance up to $945 million of “AXXX” reserves related to a block of universal life insurance policies with secondary guarantees issued by our direct wholly owned subsidiary PLICO and indirect wholly owned subsidiary, WCL. Golden Gate V issued non-recourse funding obligations to Red Mountain, and Red Mountain issued a note with an initial principal amount of $275 million , increasing to a maximum of $945 million in 2027, to Golden Gate V for deposit to a reinsurance trust supporting Golden Gate V’s obligations under a reinsurance agreement with WCL, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of PLICO. Through the structure, Hannover Life Reassurance Company of America (“Hannover Re”), the ultimate risk taker in the transaction, provides credit enhancement to the Red Mountain note for the 20 -year term in exchange for a fee. The transaction is “non-recourse” to Golden Gate V, Red Mountain, WCL, PLICO and the Company, meaning that none of these companies are liable for the reimbursement of any credit enhancement payments required to be made. As of December 31, 2018 , the principal balance of the Red Mountain note was $670 million . Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $114.6 million and will be paid in annual installments through 2031. In connection with the transaction, the Company has entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate V or Red Mountain. The support agreements provide that amounts would become payable by the Company if Golden Gate V’s annual general corporate expenses were higher than modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, the Company has entered into separate agreements to indemnify Golden Gate V with respect to material adverse changes in non-guaranteed elements of insurance policies reinsured by Golden Gate V, and to guarantee payment of certain fee amounts in connection with the credit enhancement of the Red Mountain note. As of December 31, 2018 , no payments have been made under these agreements. In connection with the transaction outlined above, Golden Gate V had a $670 million outstanding non-recourse funding obligation as of December 31, 2018. This non-recourse funding obligation matures in 2037, has scheduled increases in principal to a maximum of $945 million , and accrues interest at a fixed annual rate of 6.25% . The Company is party to an intercompany capital support agreement with Shades Creek Captive Insurance Company (“Shades Creek”), a direct wholly owned insurance subsidiary. The agreement provides through a guarantee that the Company will contribute assets or purchase surplus notes (or cause an affiliate or third party to contribute assets or purchase surplus notes) in amounts necessary for Shades Creek’s regulatory capital levels to equal or exceed minimum thresholds as defined by the agreement. As of December 31, 2018 , Shades Creek maintained capital levels in excess of the required minimum thresholds. The maximum potential future payment amount which could be required under the capital support agreement will be dependent on numerous factors, including the performance of equity markets, the level of interest rates, performance of associated hedges, and related policyholder behavior. SHAREOWNER’S EQUITY On February 1, 2015, Dai-ichi Life acquired 100% of the Company’s outstanding shares of common stock through the Merger of DL Investment (Delaware), Inc., a wholly owned subsidiaries of Dai-ichi Life, with and into the Company, with the Company continuing as the surviving entity. SUPPLEMENTAL CASH FLOW INFORMATION For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash paid (received) during the year for: Interest paid on debt $ 83,439 $ 78,944 $ 95,095 Income taxes (adjusted for amounts received from affiliates under a tax sharing agreement) (40,986 ) (23,110 ) (2,596 ) DERIVATIVE FINANCIAL INSTRUMENTS In connection with the issuance of non-recourse funding obligations by Golden Gate II, the Company has entered into certain support agreements with Golden Gate II obligating it to provide support payments to Golden Gate II under certain adverse interest rate conditions and to the extent of any reduction in the reinsurance premiums received by Golden Gate II due to an increase in the premium rates charged to PLICO under its third party yearly renewable term reinsurance agreements. Each of these agreements expires on July 10, 2052. In connection with the Golden Gate V financing transaction, the Company entered into separate Portfolio Maintenance Agreements with Golden Gate V and WCL. The agreements obligate the Company to reimburse Golden Gate V and West Coast Life for other-than-temporary impairment losses on certain asset portfolios above a specified amount. Each of these agreements expires on October 10, 2032. In connection with the Golden Gate financing transaction, the Company entered into certain support agreements under which it guarantees or otherwise supports certain obligations of Golden Gate. The agreements obligate the Company to reimburse Golden Gate for other-than-temporary impairment losses on certain asset portfolios above a specified amount and to the extent of any reduction in the reinsurance premiums received by Golden Gate due to an increase in the premium rates charged to PLICO under its third party yearly renewable term reinsurance agreements. Each of these agreements expires on January 15, 2034. As of December 31, 2018 and 2017 , the Company included in its balance sheets a combined liability for these agreements of $90.0 million and $91.6 million , respectively. During the years ended December 31, 2018 , 2017, and 2016, the Company included in its statements of income unrealized gains of $1.5 million and unrealized losses of $ 42.7 million and $29.3 million , respectively.

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES Segment Deferred Policy Acquisition Costs and Value of Businesses Acquired Future Policy Benefits and Claims Unearned Premiums Stable Value Products, Annuity Contracts and Other Policyholders’ Funds Net Premiums and Policy Fees Net Investment Income (1) Benefits and Settlement Expenses Amortization of Deferred Policy Acquisitions Costs and Value of Businesses Acquired Other Operating Expenses (1) Premiums Written (2) (Dollars In Thousands) For The Year Ended December 31, 2018: Life Marketing $ 1,499,386 $ 15,318,019 $ 98 $ 422,037 $ 1,043,228 $ 551,781 $ 1,412,001 $ 116,917 $ 197,346 $ 92 Acquisitions 458,976 25,427,730 2,206 6,018,954 952,315 1,108,218 1,636,697 18,690 143,698 13,750 Annuities 889,697 1,050,161 — 8,324,931 148,033 340,685 226,704 24,274 151,054 — Stable Value Products 6,121 — — 5,234,731 — 217,778 109,747 3,201 2,798 — Asset Protection 168,974 52,636 869,615 — 140,130 30,457 113,073 62,726 104,533 135,596 Corporate and Other — 53,006 675 82,538 12,198 234,831 17,647 — 316,829 12,186 Total $ 3,023,154 $ 41,901,552 $ 872,594 $ 20,083,191 $ 2,295,904 $ 2,483,750 $ 3,515,869 $ 225,808 $ 916,258 $ 161,624 For The Year Ended December 31, 2017: Life Marketing $ 1,320,776 $ 15,438,739 $ 107 $ 424,204 $ 1,011,911 $ 553,999 $ 1,319,138 $ 120,753 $ 178,792 $ 111 Acquisitions 74,862 14,323,713 2,423 4,377,020 785,188 752,520 1,204,084 (6,939 ) 110,607 15,964 Annuities 772,633 1,080,629 — 7,308,354 152,701 321,844 216,629 (54,471 ) 149,181 — Stable Value Products 6,864 — — 4,698,371 — 186,576 74,578 2,354 4,407 — Asset Protection 24,442 55,847 872,600 — 154,166 27,325 126,459 16,524 160,235 148,093 Corporate and Other — 58,664 275 78,810 12,718 209,324 16,382 — 345,022 12,732 Total $ 2,199,577 $ 30,957,592 $ 875,405 $ 16,886,759 $ 2,116,684 $ 2,051,588 $ 2,957,270 $ 78,221 $ 948,244 $ 176,900 For The Year Ended December 31, 2016: Life Marketing $ 1,218,944 $ 14,595,370 $ 119 $ 426,422 $ 972,247 $ 525,495 $ 1,267,844 $ 130,708 $ 177,498 $ 122 Acquisitions 106,532 14,693,744 2,734 4,247,081 832,083 764,571 1,232,141 8,178 118,056 18,818 Annuities 655,618 1,097,973 — 7,059,060 146,458 322,608 214,100 (11,031 ) 140,409 — Stable Value Products 5,455 — — 3,501,636 — 107,010 41,736 1,176 3,033 — Asset Protection 33,280 60,790 844,919 — 128,687 22,082 106,668 20,033 125,957 121,821 Corporate and Other — 63,208 723 75,301 13,740 200,690 17,946 — 295,498 13,689 Total $ 2,019,829 $ 30,511,085 $ 848,495 $ 15,309,500 $ 2,093,215 $ 1,942,456 $ 2,880,435 $ 149,064 $ 860,451 $ 154,450 (1) Allocations of Net Investment Income and Other Operating Expenses are based on a number of assumptions and estimates and results would change if different methods were applied. (2) Excludes Life Insurance

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - REINSURANCE	SCHEDULE IV—REINSURANCE PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (Dollars In Thousands) For The Year Ended December 31, 2018: Life insurance in-force $ 765,986,223 $ (302,149,614 ) $ 135,407,408 $ 599,244,017 23.0 % Premiums and policy fees: Life insurance 2,681,191 (1,173,194 ) 626,283 2,134,280 (1) 29.3 % Accident/health insurance 47,028 (30,126 ) 12,826 29,728 43.1 Property and liability insurance 308,634 (181,621 ) 4,883 131,896 3.7 Total $ 3,036,853 $ (1,384,941 ) $ 643,992 $ 2,295,904 For The Year Ended December 31, 2017: Life insurance in-force $ 751,512,468 $ (328,377,398 ) $ 110,205,190 $ 533,340,260 21.0 % Premiums and policy fees: Life insurance 2,655,846 (1,151,175 ) 435,113 1,939,784 (1) 22.5 % Accident/health insurance 51,991 (33,051 ) 14,945 33,885 44.1 Property and liability insurance 309,848 (176,509 ) 9,676 143,015 6.8 Total $ 3,017,685 $ (1,360,735 ) $ 459,734 $ 2,116,684 For The Year Ended December 31, 2016: Life insurance in-force $ 739,248,680 $ (348,994,650 ) $ 116,265,430 $ 506,519,460 23.0 % Premiums and policy fees: Life insurance 2,610,682 (1,126,915 ) 454,999 1,938,766 (1) 23.5 % Accident/health insurance 58,076 (36,935 ) 17,439 38,580 45.2 Property and liability insurance 261,009 (150,866 ) 5,726 115,869 4.9 Total $ 2,929,767 $ (1,314,716 ) $ 478,164 $ 2,093,215 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $160.4 million for the years ended December 31, 2018 , 2017, and 2016, respectively.

SCHEDULE V - VALUATION AND QUAL

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE V—VALUATION AND QUALIFYING ACCOUNTS PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES Additions Description Balance at beginning of period Charged to costs and expenses Charges to other accounts Deductions Balance at end of period (Dollars In Thousands) As of December 31, 2018 Allowance for losses on commercial mortgage loans $ — $ (209 ) $ — $ 1,505 $ 1,296 As of December 31, 2017 Allowance for losses on commercial mortgage loans $ 724 $ (7,439 ) $ — $ 6,715 $ —

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation On February 1, 2015, Protective Life Corporation (the “Company”) became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Limited, a kabushiki kaisha organized under the laws of Japan (now known as Dai-ichi Life Holdings, Inc., “Dai-ichi Life”), when DL Investment (Delaware), Inc. a wholly owned subsidiary of Dai-ichi Life, merged with and into the Company. Prior to February 1, 2015, the Company’s stock was publicly traded on the New York Stock Exchange. Subsequent to the Merger date, the Company remains as an SEC registrant within the United States. The Company is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products. The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The Company also maintains a separate segment devoted to the acquisition of insurance policies from other companies. Founded in 1907, Protective Life Insurance Company (“PLICO”) is the Company’s largest operating subsidiary. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such accounting principles differ from statutory reporting practices used by insurance companies in reporting to state regulatory authorities (see also Note 21, Statutory Reporting Practices and Other Regulatory Matters ). The operating results of companies in the insurance industry have historically been subject to significant fluctuations due to changing competition, economic conditions, interest rates, investment performance, insurance ratings, claims, persistency, and other factors.
Entities Included	Entities Included The consolidated financial statements include the accounts of Protective Life Corporation and subsidiaries and its affiliate companies in which the Company holds a majority voting or economic interest. Intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization periods, goodwill recoverability, value of business acquired (“VOBA”), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters.
Valuation of Investment Securities	Valuation of Investment Securities The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income. The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations (“CMOs”), and mortgage-backed securities (“MBS”) are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures (“CUSIP”) level on a first in first out basis. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded. Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company’s intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security’s amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company’s expectations for recovery of the security’s entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security’s basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than-temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security’s amortized cost are written down to discounted expected future cash flows (“post impairment cost”) and credit losses are recorded in earnings. The difference between the securities’ discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings.
Cash	Cash Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank at certain reporting dates. Such negative balances are included in other liabilities and were $153.3 million as of December 31, 2018 and $132.7 million as of December 31, 2017 , respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The incremental direct costs associated with successfully acquired insurance policies, are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization. The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 7.1% ) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method.
Value of Businesses Acquired	Value of Businesses Acquired In conjunction with the Merger and the acquisition of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flows and earnings of associated insurance policies and investment contracts. This intangible asset, called VOBA, is based on the actuarially estimated present value of future cash flows from associated insurance policies and investment contracts acquired. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. The Company amortizes VOBA in proportion to gross premiums for traditional life products, or estimated gross margins (“EGMs”) for participating traditional life products within the MONY Life Insurance Company (“MONY”) block. For interest sensitive products, the Company uses various amortization bases including expected gross profits (“EGPs”), revenues, account values, or insurance in-force. VOBA is subject to annual recoverability testing.
Intangible Assets	Intangible Assets Intangible assets with definite lives are amortized over the estimated useful life of the asset and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Amortizable intangible assets primarily consist of distribution relationships, trade names, technology, and software. Intangible assets with indefinite lives, primarily insurance licenses, are not amortized, but are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Software is generally amortized over a three year useful life.
Property and Equipment	Property and Equipment In conjunction with the Merger, property and equipment was recorded at fair value as of the Merger date and will be depreciated from this basis in future periods based on the respective estimated useful lives. Real estate assets were recorded at appraised values as of the acquisition date. The Company has estimated the remaining useful life of the home office building to be 25 years. Land is not depreciated. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and computers are depreciated over a four year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income.
Separate Accounts	Separate Accounts The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder’s equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income.
Stable Value Product Account Balances	Stable Value Product Account Balances The Stable Value Products segment sells fixed and floating rate funding agreements directly to qualified institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank (“FHLB”), and markets guaranteed investment contracts (“GICs”) to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. The Company records its stable value contract liabilities in the consolidated balance sheets in “stable value product account balances” at the deposit amount plus accrued interest, adjusted for any unamortized premium or discount. Interest on the contracts is accrued based upon contract terms. Any premium or discount is amortized using the effective yield method. The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of PLICO as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued.
Derivative Financial Instruments	Derivative Financial Instruments The Company records its derivative financial instruments in the consolidated balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the statement of other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses)—Derivative financial instruments”.
Insurance Liabilities and Reserves	Insurance Liabilities and Reserves Establishing an adequate liability for the Company’s obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company’s historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company’s property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company’s results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company’s reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments.
Guaranteed Minimum Withdrawal Benefits	Guaranteed Living Withdrawal Benefits The Company also establishes reserves for guaranteed living withdrawal benefits (“GLWB”) on its variable annuity (“VA”) products. The GLWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the embedded derivative to be recorded at fair value using current interest rates and implied volatilities for the equity indices. The fair value of the GLWB is impacted by equity market conditions and can result in the GLWB embedded derivative being in an overall net asset or net liability position. In times of favorable equity market conditions the likelihood and severity of claims is reduced and expected fee income increases. Since claims are generally expected later than fees, these favorable equity market conditions can result in the present value of fees being greater than the present value of claims, which results in a net GLWB embedded derivative asset. In times of unfavorable equity market conditions the likelihood and severity of claims is increased and expected fee income decreases and can result in the present value of claims exceeding the present value of fees resulting in a net GLWB embedded derivative liability. The methods used to estimate the embedded derivative employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the Ruark 2015 ALB table adjusted for company experience. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses.
Goodwill	Goodwill The balance recognized as goodwill is not amortized, but is reviewed for impairment on an annual basis, or more frequently as events or circumstances may warrant, including those circumstances which would more likely than not reduce the fair value of the Company’s reporting units below its carrying amount. Accounting for goodwill requires an estimate of the future profitability of the associated lines of business within the Company’s operating segments to assess the recoverability of the capitalized goodwill. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If the qualitative analysis does not indicate that an impairment of segment goodwill is more likely than not then no other specific quantitative impairment testing is required. If it is determined that it is more likely than not that impairment exists, the Company performs a quantitative assessment and compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The cash flows used to determine the fair value of the Company’s reporting units are dependent on a number of significant assumptions. The Company’s estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions.
Income Taxes	Income Taxes The Company and its subsidiaries file a consolidated federal income tax return that includes both life insurance companies and non-life insurance companies. The Company has one life insurance subsidiary that is not eligible to be included in the consolidated federal income tax return and files a separate corporate tax return. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "Tax Reform Act"). Further information on the tax impacts of the Tax Reform Act is included in Note 18, Income Taxes . The Company uses the asset and liability method of accounting for income taxes. Generally, most items in pretax book income are also included in taxable income in the same year. However, some items are recognized for book purposes and for tax purposes in different years or are never recognized for either book or tax purposes. Those differences that will never be recognized for either book or tax purposes are permanent differences (e.g., the dividends-received deduction). As a result, the effective tax rate reflected in the financial statements may differ from the statutory rate reflected in the tax return. Those differences that are reported in different years for book and tax purposes are temporary and will reverse over time (e.g., the valuation of future policy benefits). These temporary differences are accounted for in the intervening periods as deferred tax assets and liabilities. Deferred tax assets generally represent revenue that is taxable before it is recognized in financial income and expenses that are deductible after they are recognized in financial income. Deferred tax liabilities generally represent revenues that are taxable after they are recognized in financial income or expenses or losses that are deductible before they are recognized in financial income. Components of accumulated other comprehensive income (loss) (“AOCI”) are presented net of tax, and it is the Company’s policy to use the aggregate portfolio approach to clear the disproportionate tax effects that remain in AOCI as a result of tax rate changes and certain other events. Under the aggregate portfolio approach, disproportionate tax effects are cleared only when the portfolio of investments that gave rise to the deferred tax item is sold or otherwise disposed of in its entirety. The application of GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance, if necessary, to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance the Company may consider many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process, the first step being recognition. The Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes the liability for unrecognized tax benefits, interest and penalties which relate to tax years still subject to review by the Internal Revenue Service (“IRS”) or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations expires. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards, the statute of limitations does not close until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense.
Variable Interest Entities	Variable Interest Entities The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available for sale, or held to maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity (“VIE”). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE.
Policyholder Liabilities, Revenues and Benefits Expense	Liabilities for life and annuity benefit reserves consist of liabilities for traditional life insurance, cash values associated with universal life insurance, immediate annuity benefit reserves, and other benefits associated with life and annuity benefits. The unpaid life claim liabilities consist of current pending claims as well as an estimate of incurred but not reported life insurance claims. Other policy benefit reserves consist of certain health insurance policies that are in runoff. The unpaid claim liabilities associated with other policy benefits includes current pending claims, the present value of estimated future claim payments for policies currently receiving benefits and an estimate of claims incurred but not yet reported. Traditional Life, Health, and Credit Insurance Products Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and they include whole life insurance policies, term and term-like life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies. In accordance with ASC 805, the liabilities for future policy benefits on traditional life insurance products, when combined with the associated VOBA, were recorded at fair value on the date of the Merger. These values were computed using assumptions that include interest rates, mortality, lapse rates, expense estimates, and other assumptions based on the Company’s experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Liabilities for future policy benefits on traditional life insurance products have been computed using a net level method including assumptions as to investment yields, mortality, persistency, and other assumptions based on the Company’s experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Reserve investment yield assumptions on December 31, 2018 , range from approximately 2.00% to 5.50% . The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. Policy claims are charged to expense in the period in which the claims are incurred. Traditional life insurance premiums are recognized as revenue when due. Health and credit insurance premiums are recognized as revenue over the terms of the policies. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contracts. This is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and VOBA. Gross premiums in excess of net premiums related to immediate annuities are deferred and recognized over the life of the policy. Universal Life and Investment Products Universal life and investment products include universal life insurance, guaranteed investment contracts, guaranteed funding agreements, deferred annuities, and annuities without life contingencies. Premiums and policy fees for universal life and investment products consist of fees that have been assessed against policy account balances for the costs of insurance, policy administration, and surrenders. Such fees are recognized when assessed and earned. Benefit reserves for universal life and investment products represent policy account balances before applicable surrender charges plus certain deferred policy initiation fees that are recognized in income over the term of the policies. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest rates credited to universal life produc ts ranged from 1.0% to 8.75% and investment products ranged from 0.19% to 11.25% in 2018 . The Company establishes liabilities for fixed indexed annuity (“FIA”) products. These products are deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance. The FIA product is considered a hybrid financial instrument under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC” or “Codification”) Topic 815 - Derivatives and Hedging which allows the Company to make the election to value the liabilities of these FIA products at fair value. This election was made for the FIA products issued prior to 2010 as the policies were issued. These products are no longer being marketed. The future changes in the fair value of the liability for these FIA products are recorded in Benefit and settlement expenses with the liability being recorded in Annuity account balances . For more information regarding the determination of fair value of annuity account balances please refer to Note 6, Fair Value of Financial Instruments . Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned. The Company currently markets a deferred fixed annuity with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB’s ASC Topic 815 - Derivatives and Hedging . The Company did not elect to value these FIA products at fair value. As a result, the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses) - Derivative financial instruments . For more information regarding the determination of fair value of the FIA embedded derivative refer to Note 6, Fair Value of Financial Instruments . The host contract is accounted for as a UL - Type insurance contract in accordance with ASC Topic 944 - Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. The Company markets universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and the products are considered hybrid financial instruments under the FASB’s ASC Topic 815 - Derivatives and Hedging . The Company did not elect to value these indexed universal life (“IUL”) products at fair value prior to the Merger date. As a result, the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities . Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses) - Derivative financial instruments . For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 6, Fair Value of Financial Instruments . The host contract is accounted for as a debt instrument in accordance with ASC Topic 944 - Financial Services - Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accrued interest and benefit claims incurred during the period. The Company’s accounting policies with respect to variable universal life (“VUL”) and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts. The Company establishes liabilities for guaranteed minimum death benefits (“GMDB”) on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the Ruark 2015 ALB table adjusted for company experience. Future declines in the equity market would increase the Company’s GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. A portion of the Company’s GMDB benefits are subject to a dollar-for-dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. As of December 31, 2018 and 2017, the GMDB reserve was $44.3 million and $34.1 million , respectively. Property and Casualty Insurance Products Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP”). Premiums and fees associated with service contracts and GAP products are recognized based on expected claim patterns. For all other products, premiums are generally recognized over the terms of the contract on a pro-rata basis. Commissions and fee income associated with other products are recognized as earned when the related services are provided to the customer. Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported (“IBNR”) reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends. Effective January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers . In consideration of the amendments in this Update, the Company revised its recognition pattern for administrative fees associated with certain vehicle service and GAP products. Previously, these fees were recognized based on the work effort involved in satisfying the Company’s contract obligations. The Company will recognize these fees on a claims occurrence basis in future periods. To reflect this change in accounting principle, the Company recorded a cumulative effect adjustment as of January 1, 2018 that resulted in a decrease in retained earnings of $93.9 million .
Reinsurance	Reinsurance The Company uses reinsurance extensively in certain of its segments and accounts for reinsurance and the recognition of the impact of reinsurance costs in accordance with the ASC Financial Services - Insurance Topic. The following summarizes some of the key aspects of the Company’s accounting policies for reinsurance. Reinsurance Accounting Methodology —Ceded premiums of the Company’s traditional life insurance products are treated as an offset to direct premium and policy fee revenue and are recognized when due to the assuming company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable financial reporting period. Expense allowances paid by the assuming companies which are allocable to the current period are treated as an offset to other operating expenses. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances representing recovery of acquisition costs is treated as an offset to direct amortization of DAC or VOBA. Amortization of deferred expense allowances is calculated as a level percentage of expected premiums in all durations given expected future lapses and mortality and accretion due to interest. The Company utilizes reinsurance on certain short duration insurance contracts (primarily issued through the Asset Protection segment). As part of these reinsurance transactions the Company receives reinsurance allowances which reimburse the Company for acquisition costs such as commissions and premium taxes. A ceding fee is also collected to cover other administrative costs and profits for the Company. As a component of reinsurance costs, reinsurance allowances are accounted for in accordance with the relevant provisions of ASC Financial Services—Insurance Topic, which state that reinsurance costs should be amortized over the contract period of the reinsurance if the contract is short-duration. Accordingly, reinsurance allowances received related to short-duration contracts are capitalized and charged to expense in proportion to premiums earned. Ceded unamortized acquisition costs are netted with direct unamortized acquisition costs in the balance sheet. Ceded premiums and policy fees on the Company’s fixed universal life (“UL”), VUL, bank-owned life insurance (“BOLI”), and annuity products reduce premiums and policy fees recognized by the Company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable valuation period. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances are amortized based on future expected gross profits. Assumptions regarding mortality, lapses, and interest rates are continuously reviewed and may be periodically changed. These changes will result in “unlocking” that changes the balance in the ceded deferred acquisition cost and can affect the amortization of DAC and VOBA. Ceded unearned revenue liabilities are also amortized based on expected gross profits. Assumptions are based on the best current estimate of expected mortality, lapses and interest spread. The Company has also assumed certain policy risks written by other insurance companies through reinsurance agreements. Premiums and policy fees as well as Benefits and settlement expenses include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Assumed reinsurance is accounted for in accordance with ASC Financial Services—Insurance Topic. Reinsurance Allowances—Long-Duration Contracts —Reinsurance allowances are intended to reimburse the ceding company for some portion of the ceding company’s commissions, expenses, and taxes. The amount and timing of reinsurance allowances (both first year and renewal allowances) are contractually determined by the applicable reinsurance contract and do not necessarily bear a relationship to the amount and incidence of expenses actually paid by the ceding company in any given year. Ultimate reinsurance allowances are defined as the lowest allowance percentage paid by the reinsurer in any policy duration over the lifetime of a universal life policy (or through the end of the level term period for a traditional life policy). Ultimate reinsurance allowances are determined during the negotiation of each reinsurance agreement and will differ between agreements. The Company determines its “cost of reinsurance” to include amounts paid to the reinsurer (ceded premiums) net of amounts reimbursed by the reinsurer (in the form of allowances). As noted within ASC Financial Services—Insurance Topic, “The difference, if any, between amounts paid for a reinsurance contract and the amount of the liabilities for policy benefits relating to the underlying reinsured contracts is part of the estimated cost to be amortized.” The Company’s policy is to amortize the cost of reinsurance over the life of the underlying reinsured contracts (for long-duration policies) in a manner consistent with the way in which benefits and expenses on the underlying contracts are recognized. For the Company’s long-duration contracts, it is the Company’s practice to defer reinsurance allowances as a component of the cost of reinsurance and recognize the portion related to the recovery of acquisition costs as a reduction of applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. The remaining balance of reinsurance allowances are included as a component of the cost of reinsurance and those allowances which are allocable to the current period are recorded as an offset to operating expenses in the current period consistent with the recognition of benefits and expenses on the underlying reinsured contracts. This practice is consistent with the Company’s practice of capitalizing direct expenses (e.g. commissions), and results in the recognition of reinsurance allowances on a systematic basis over the life of the reinsured policies on a basis consistent with the way in which acquisition costs on the underlying reinsured contracts would be recognized. In some cases reinsurance allowances allocable to the current period may exceed non-deferred direct costs, which may cause net other operating expenses (related to specific contracts) to be negative. Amortization of Reinsurance Allowances —Reinsurance allowances do not affect the methodology used to amortize DAC and VOBA, or the period over which such DAC and VOBA are amortized. Reinsurance allowances offset the direct expenses capitalized, reducing the net amount that is capitalized. DAC and VOBA on traditional life policies are amortized based on the pattern of estimated gross premiums of the policies in force. Reinsurance allowances do not affect the gross premiums, so therefore they do not impact traditional life amortization patterns. DAC and VOBA on universal life products are amortized based on the pattern of estimated gross profits of the policies in force. Reinsurance allowances are considered in the determination of estimated gross profits, and therefore do impact amortization patterns. Reinsurance Assets and Liabilities —Claim liabilities and policy benefits are calculated consistently for all policies, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. The reinsurance receivables as of the Merger date, were recorded in the balance sheet using current accounting policies and the most current assumptions. As of the Merger date, the Company also calculated the ceded VOBA associated with the reinsured policies. The reinsurance receivables combined with the associated ceded VOBA represent the fair value of the reinsurance assets as of the Merger date. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed to ensure that appropriate amounts are ceded. The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit. Components of Reinsurance Cost —The following income statement lines are affected by reinsurance cost: Premiums and policy fees (“reinsurance ceded” on the Company’s financial statements) represent consideration paid to the assuming company for accepting the ceding company’s risks. Ceded premiums and policy fees increase reinsurance cost. Benefits and settlement expenses include incurred claim amounts ceded and changes in ceded policy reserves. Ceded benefits and settlement expenses decrease reinsurance cost. Amortization of deferred policy acquisition cost and VOBA reflects the amortization of capitalized reinsurance allowances representing recovery of acquisition costs. Ceded amortization decreases reinsurance cost. Other expenses include reinsurance allowances paid by assuming companies to the Company less amounts representing recovery of acquisition costs. Reinsurance allowances decrease reinsurance cost. The Company’s reinsurance programs do not materially impact the other income line of the Company’s income statement. In addition, net investment income generally has no direct impact on the Company’s reinsurance cost. However, it should be noted that by ceding business to the assuming companies, the Company forgoes investment income on the reserves ceded to the assuming companies. Conversely, the assuming companies will receive investment income on the reserves assumed which will increase the assuming companies’ profitability on business assumed from the Company.
Accounting Pronouncements Recently and Not Yet Adopted	Accounting Pronouncements Recently Adopted ASU No. 2014-09 - Revenue from Contracts with Customers (Topic 606). This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update was originally effective for annual and interim periods beginning after December 15, 2016. However, in August 2015, the FASB issued ASU No. 2015-14 - Revenues from Contracts with Customers: Deferral of the Effective Date , to defer the effective date of ASU No. 2014-09 by one year to annual and interim periods beginning after December 15, 2017. The Company adopted this Update using the modified retrospective approach via a cumulative effect adjustment to retained earnings as of January 1, 2018. The amendments in the Update, along with clarifying updates issued subsequent to ASU 2014-09, impacted some of the Company’s smaller lines of business, specifically revenues at the Company’s affiliated broker dealers and insurance agency, and certain revenues associated with the Company’s Asset Protection products. The lines of business to which the revised guidance applies are not material to the Company’s financial statements. In consideration of the amendments in this Update, the Company revised its recognition pattern for administrative fees associated with certain vehicle service and GAP products. Previously, these fees were recognized based on the work effort involved in satisfying the Company’s contract obligations. The Company will recognize these fees on a claims occurrence basis in future periods. To reflect this change in accounting principle, the Company recorded a cumulative effect adjustment as of January 1, 2018 that resulted in a decrease in retained earnings of $93.9 million . The Company also implemented minor changes to its accounting and disclosures with respect to the lines of business referenced above to ensure compliance with the revised guidance. See above for additional discussion. ASU No. 2016-01 - Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most notably, the Update requires that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) be measured at fair value with changes in fair value recognized in net income. The Update also introduces a single-step impairment model for equity investments without a readily determinable fair value. Additionally, the Update requires changes in instrument-specific credit risk for fair value option liabilities to be recorded in other comprehensive income. The amendments in this Update were effective the interim periods beginning after December 15, 2017 and were applied on a modified retrospective basis. The Company recorded a cumulative-effect adjustment at the date of adoption, January 1, 2018, transferring unrealized gains and losses on available-for-sale equity securities to retained earnings from accumulated other comprehensive income. The impact of this adjustment, net of income tax, resulted in a $10.6 million increase to retained earnings and a corresponding decrease to accumulated other comprehensive income, resulting in no net impact to consolidated shareowner’s equity. The Company has updated its disclosures in Note 5, Investment Operations and Note 6, Fair Value of Financial Instruments in accordance with the ASU. ASU No. 2016-15 - Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update are intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. Specific transactions addressed in the new guidance include: Debt prepayment/extinguishment costs, contingent consideration payments, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investments. The Update does not introduce any new accounting or financial reporting requirements, and was effective for the interim periods beginning after December 15, 2017 using the retrospective method. There was no financial impact. ASU No. 2016-18 - Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Task Force). The amendments in this update provide guidance on the presentation of restricted cash or restricted cash equivalents in the statement of cash flows, thereby reducing diversity in practice related to the presentation of these amounts. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Update is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. There was no impact to the Company on adoption. ASU No. 2017-01 - Business Combinations (Topic 805): Clarifying the Definition of a Business. The purpose of this update is to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in the Update provide a specific test by which an entity may determine whether an acquisition involves a set of assets or a business. The amendments in the Update are to be applied prospectively for periods beginning after December 15, 2017. The Company has reviewed the revised requirements, and does not anticipate that the changes will impact its policies or recent conclusions related to its acquisition activities. ASU No. 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The amendments in this update require entities to disaggregate the current-service-cost component from other components of net benefit cost and present it with other current compensation costs in the income statement. The other components of net benefit cost must be presented outside of income from operations if that subtotal is presented. In addition, the Update requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. The amendments in this update are effective for interim and annual periods beginning after December 15, 2017. As provided for in the ASU, the Company applied the provisions of the statement retrospectively for components of net periodic pension costs and prospectively for capitalization of the service costs component of net periodic costs and net periodic postretirement benefits. The Update did not impact the Company’s financial position, results of operations, or current disclosures. Accounting Pronouncements Not Yet Adopted ASU No. 2016-02 - Leases. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of leases. The most significant change will relate to the accounting model used by lessees. The Update will require all leases with terms greater than 12 months to be recorded on the balance sheet in the form of a lease asset and liability. The lease asset and liability will be measured at the present value of the minimum lease payments less any upfront payments or fees. The amendments in the Update are effective for annual and interim periods beginning after December 15, 2018 on a modified retrospective basis. The Company expects to record a cumulative effect adjustment as of the date of adoption, January 1, 2019, establishing a right of use asset and lease liability of $21.5 million on its consolidated balance sheet to be reflected in the property and equipment and other liabilities line items, respectively. The Company will make updates to its disclosures in the first quarter in order to comply with the new guidance. ASU No. 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this Update require that premiums on callable debt securities be amortized to the first call date. This is a change from current guidance, under which premiums are amortized to the maturity date of the security. The amendments are effective for annual and interim periods beginning after December 15, 2018. The Company recorded a cumulative effect adjustment as of the adoption date, January 1, 2019, resulting in a $51.2 million reduction to retained earnings, net of income tax. ASU No. 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this Update are designed to permit hedge accounting to be applied to a broader range of hedging strategies as well as to more closely align hedge accounting and risk management objectives. Specific provisions include requiring changes in the fair value of a hedging instrument be recorded in the same income statement line as the hedged item when it affects earnings. There was no impact to the Company on adoption. ASU No. 2016-13 - Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this Update introduce a new current expected credit loss (“CECL”) model for certain financial assets, including mortgage loans and reinsurance receivables. The new model will not apply to debt securities classified as available-for-sale. For assets within the scope of the new model, an entity will recognize as an allowance against earnings its estimate of the contractual cash flows not expected to be collected on day one of the asset’s acquisition. The allowance may be reversed through earnings if a security recovers in value. This differs from the current impairment model, which requires recognition of credit losses when they have been incurred and recognizes a security’s subsequent recovery in value in other comprehensive income. The Update also makes targeted changes to the current impairment model for available-for-sale debt securities, which comprise the majority of the Company’s invested assets. Similar to the CECL model, credit loss impairments will be recorded in an allowance against earnings that may be reversed for subsequent recoveries in value. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2019 on a modified retrospective basis. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption, and assessing the impact this standard will have on its operations and financial results. ASU No. 2018-12 - Financial Services - Insurance (Topic 944): Targeted Improvements to Accounting for Long-Duration Contracts. The amendments in this Update are designed to make improvements to the existing recognition, measurement, presentation, and disclosure requirements for certain long-duration contracts issued by an insurance company. The new amendments require insurance entities to provide a more current measure of the liability for future policy benefits for traditional and limited-payment contracts by regularly refining the liability for actual past experience and updated future assumptions. This differs from current requirements where assumptions are locked-in at contract issuance for these contract types. In addition, the updated liability will be discounted using an upper-medium grade (low-credit-risk) fixed income instrument yield that reflects the characteristics of the liability which differs from currently used rates based on the invested assets supporting the liability. In addition, the amendments introduce new requirements to assess market-based insurance contract options and guarantees for Market Risk Benefits and measure them at fair value. This Update also requires insurance entities to amortize deferred acquisition costs on a constant-level basis over the expected life of the contract. Finally this Update requires new disclosures including liability rollforwards and information about significant inputs, judgements, assumptions, and methods used in the measurement. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2020 with early adoption permitted. The Company is currently reviewing its policies, processes, and applicable systems to determine the impact this standard will have on its operations and financial results.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of indefinite-lived intangible assets	Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,928 35,914 Total intangible assets subject to amortization 581,431 631,572 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 613,431 $ 663,572
Schedule of finite-lived intangible assets	Intangible assets recognized by the Company included the following (excluding goodwill): As of December 31, Estimated 2018 2017 Useful Life (Dollars In Thousands) (In Years) Distribution relationships $ 377,441 $ 402,975 14-22 Trade names 78,629 85,340 13-17 Technology 93,433 107,343 7-14 Other 31,928 35,914 Total intangible assets subject to amortization 581,431 631,572 Insurance licenses 32,000 32,000 Indefinite Total intangible assets $ 613,431 $ 663,572
Schedule of future estimated aggregate amortization expense	The following is a schedule of future estimated aggregate amortization expense: Year Amount (Dollars In Thousands) 2019 $ 55,299 2020 52,298 2021 49,693 2022 46,435 2023 45,135
Schedule of property and equipment	Property and equipment consisted of the following: As of December 31, 2018 2017 (Dollars In Thousands) Home office building $ 144,669 $ 68,123 Data processing equipment 28,793 24,102 Other, principally furniture and equipment 19,774 17,198 Total property and equipment subject to depreciation 193,236 109,423 Accumulated depreciation (33,199 ) (22,926 ) Land 24,920 24,920 Total property and equipment $ 184,957 $ 111,417
Schedule of future maturities of stable value products	As of December 31, 2018 , future maturities of stable value products were as follows: Year of Maturity Amount (Dollars In Millions) 2019 $ 1,253.9 2020 - 2021 3,042.5 2022 - 2023 818.7 Thereafter 118.7
Schedule of future policy benefit liabilities	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,582,850 $ 3,898,079 Unpaid life claim liabilities 654,077 595,188 383,376 362,827 Life and annuity future policy benefits 41,537,306 30,568,126 3,966,226 4,260,906 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 221,391 232,365 176,155 185,826 Future policy benefits and claims and associated reinsurance receivable $ 41,901,552 $ 30,957,592 $ 4,223,069 $ 4,539,062 Unearned premiums 872,594 875,405 541,674 536,636 Total policy liabilities and accruals and associated reinsurance receivable $ 42,774,146 $ 31,832,997 $ 4,764,743 $ 5,075,698
Reinsurance receivable	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,582,850 $ 3,898,079 Unpaid life claim liabilities 654,077 595,188 383,376 362,827 Life and annuity future policy benefits 41,537,306 30,568,126 3,966,226 4,260,906 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 221,391 232,365 176,155 185,826 Future policy benefits and claims and associated reinsurance receivable $ 41,901,552 $ 30,957,592 $ 4,223,069 $ 4,539,062 Unearned premiums 872,594 875,405 541,674 536,636 Total policy liabilities and accruals and associated reinsurance receivable $ 42,774,146 $ 31,832,997 $ 4,764,743 $ 5,075,698 The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount (Dollars In Thousands) For The Year Ended December 31, 2018: Premiums and policy fees: Life insurance $ 2,681,191 $ (1,173,194 ) $ 626,283 $ 2,134,280 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 308,634 (181,621 ) 4,883 131,896 Total $ 3,036,853 $ (1,384,941 ) $ 643,992 $ 2,295,904 December 31, 2017: Premiums and policy fees: Life insurance $ 2,655,846 $ (1,151,175 ) $ 435,113 $ 1,939,784 (1) Accident/health insurance 51,991 (33,051 ) 14,945 33,885 Property and liability insurance 309,848 (176,509 ) 9,676 143,015 Total $ 3,017,685 $ (1,360,735 ) $ 459,734 $ 2,116,684 December 31, 2016: Premiums and policy fees: Life insurance $ 2,610,682 $ (1,126,915 ) $ 454,999 $ 1,938,766 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 261,009 (150,866 ) 5,726 115,869 Total $ 2,929,767 $ (1,314,716 ) $ 478,164 $ 2,093,215 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $160.4 million , for the years ended December 31, 2018 , 2017, and 2016, respectively.
Schedule of new accounting pronouncements and changes in accounting principles	The pre-tax impact to each affected line item on the Company’s financial statements is reflected in the table below: As of December 31, 2018 As Reported Previous Accounting Method (Dollars In Millions) Financial Statement Line Item: Balance Sheet Deferred policy acquisition costs and value of business acquired $ 3,023.2 $ 2,881.6 Other liabilities $ 2,374.1 $ 2,110.5 For The Year Ended December 31, 2018 As Reported Previous Accounting Method (Dollars In Millions) Financial Statement Line Item: Statements of Income Other income $ 453.7 $ 454.4 Amortization of deferred policy acquisition costs and value of business acquired $ 225.8 $ 177.0 Other operating expenses, net of reinsurance ceded $ 916.3 $ 968.1

SIGNIFICANT TRANSACTIONS (Table

SIGNIFICANT TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Insurance [Abstract]
Summary of fair values of the net assets acquired	Fair Value As of May 1, 2018 (Dollars in Thousands) Assets Fixed maturities $ 12,588,512 Mortgage loans 435,405 Policy loans 131,489 Total investments 13,155,406 Cash 38,456 Accrued investment income 152,030 Reinsurance receivables 272 Value of business acquired 336,862 Other assets 916 Total assets 13,683,942 Liabilities Future policy benefits and claims $ 11,747,501 Unearned premiums — Total policy liabilities and accruals 11,747,501 Annuity account balances 1,823,444 Other policyholders’ funds 41,936 Other liabilities 71,061 Total liabilities 13,683,942 Net assets acquired $ —
Pro forma information	The following unaudited pro forma condensed consolidated results of operations assumes that the aforementioned transactions of the Life Business were completed as of January 1, 2017. The unaudited pro forma condensed results of operations are presented solely for information purposes and are not necessarily indicative of the consolidated condensed results of operations that might have been achieved had the transaction been completed as of the date indicated: Unaudited For The Year Ended December 31, 2018 For The Year Ended December 31, 2017 (Dollars In Thousands) Revenue $ 5,364,693 $ 5,654,257 Net income $ 348,505 $ 1,233,991

MONY CLOSED BLOCK OF BUSINESS (

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

INVESTMENT OPERATIONS (Tables)

INVESTMENT OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Summary of net realized investment gains (losses) for all other investments	Major categories of net investment income are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 2,051,505 $ 1,631,565 $ 1,552,999 Equity securities 35,299 39,806 38,838 Mortgage loans 322,207 298,387 270,749 Investment real estate 1,888 2,481 2,153 Short-term investments 102,857 108,476 106,828 2,513,756 2,080,715 1,971,567 Investment expenses 30,006 29,127 29,111 Net investment income $ 2,483,750 $ 2,051,588 $ 1,942,456 Net realized investment gains (losses) for all other investments are summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ 9,912 $ 12,941 $ 32,210 Equity gains and losses (1) (48,964 ) (2,330 ) 92 Impairments (29,724 ) (11,742 ) (17,748 ) Modco trading portfolio (185,900 ) 119,206 67,583 Other investments 1,303 (8,389 ) (9,226 ) Total realized gains (losses) - investments $ (253,373 ) $ 109,686 $ 72,911 (1) Beginning January 1, 2018, all changes in the fair market value of equity securities are recorded as a realized gain (loss) as a result of the adoption of ASU No. 2016-01. Gross realized gains and gross realized losses on investments available-for-sale (fixed maturities and short-term investments) are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Gross realized gains $ 28,095 $ 18,868 $ 42,085 Gross realized losses: Impairments losses $ (29,724 ) $ (11,742 ) $ (17,748 ) Other realized losses $ (18,183 ) $ (8,257 ) $ (9,783 )
Schedule of investments' gross unrealized losses and fair value of the Company's investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The chart below summarizes the fair value (proceeds) and the gains/losses realized on securities the Company sold that were in an unrealized gain position and an unrealized loss position. For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Securities in an unrealized gain position: Fair value (proceeds) $ 1,300,866 $ 879,181 $ 1,198,333 Gains realized $ 28,095 $ 18,868 $ 42,085 Securities in an unrealized loss position (1) : Fair value (proceeds) $ 472,371 $ 185,157 $ 85,835 Losses realized $ (18,183 ) $ (8,257 ) $ (9,783 ) (1) The Company made the decision to exit these holdings in conjunction with its overall asset liability management process. The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2017 : Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 766,599 $ (9,671 ) $ 416,221 $ (13,362 ) $ 1,182,820 $ (23,033 ) Commercial mortgage-backed securities 757,471 (8,592 ) 796,456 (21,594 ) 1,553,927 (30,186 ) Other asset-backed securities 86,506 (322 ) 134,316 (5,441 ) 220,822 (5,763 ) U.S. government-related securities 94,110 (688 ) 1,072,232 (31,489 ) 1,166,342 (32,177 ) Other government-related securities 24,830 (169 ) 115,294 (4,778 ) 140,124 (4,947 ) States, municipalities, and political subdivisions 170,268 (1,738 ) 1,027,747 (43,874 ) 1,198,015 (45,612 ) Corporate securities 5,054,316 (55,795 ) 10,962,689 (472,394 ) 16,017,005 (528,189 ) Redeemable preferred Stock 22,048 (1,120 ) 23,197 (2,383 ) 45,245 (3,503 ) Equities 86,586 (1,401 ) 91,195 (7,370 ) 177,781 (8,771 ) $ 7,062,734 $ (79,496 ) $ 14,639,347 $ (602,685 ) $ 21,702,081 $ (682,181 ) The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2018 : Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (Dollars In Thousands) Residential mortgage-backed securities $ 1,485,009 $ (31,302 ) $ 804,364 $ (30,894 ) $ 2,289,373 $ (62,196 ) Commercial mortgage-backed securities 422,438 (7,442 ) 1,429,384 (50,659 ) 1,851,822 (58,101 ) Other asset-backed securities 687,271 (30,963 ) 148,871 (4,435 ) 836,142 (35,398 ) U.S. government-related securities 130,290 (4,668 ) 1,085,654 (41,054 ) 1,215,944 (45,722 ) Other government-related securities 226,201 (15,267 ) 131,569 (18,583 ) 357,770 (33,850 ) States, municipalities, and political subdivisions 1,004,262 (27,180 ) 1,129,152 (91,722 ) 2,133,414 (118,902 ) Corporate securities 18,326,331 (970,553 ) 12,859,732 (1,414,499 ) 31,186,063 (2,385,052 ) Redeemable preferred stock 41,147 (4,467 ) 41,655 (7,093 ) 82,802 (11,560 ) $ 22,322,949 $ (1,091,842 ) $ 17,630,381 $ (1,658,939 ) $ 39,953,330 $ (2,750,781 )
Schedule of amortized cost and fair value of the Company's investments classified as available-for-sale	The amortized cost and fair value of the Company’s investments classified as available-for-sale are as follows: As of December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Total OTTI Recognized in OCI (1) (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 3,650,539 $ 23,247 $ (62,196 ) $ 3,611,590 $ (18 ) Commercial mortgage-backed securities 2,349,274 3,911 (58,101 ) 2,295,084 — Other asset-backed securities 1,410,059 17,232 (35,398 ) 1,391,893 — U.S. government-related securities 1,683,432 1,795 (45,722 ) 1,639,505 — Other government-related securities 545,522 4,292 (33,850 ) 515,964 — States, municipals, and political subdivisions 3,682,037 25,706 (118,902 ) 3,588,841 876 Corporate securities 38,634,888 112,992 (2,385,052 ) 36,362,828 (29,685 ) Redeemable preferred stock 94,362 — (11,560 ) 82,802 — 52,050,113 189,175 (2,750,781 ) 49,488,507 (28,827 ) Short-term investments 776,357 — — 776,357 — $ 52,826,470 $ 189,175 $ (2,750,781 ) $ 50,264,864 $ (28,827 ) As of December 31, 2017 Fixed maturities: Residential mortgage-backed securities $ 2,330,832 $ 19,413 $ (23,033 ) $ 2,327,212 $ 41 Commercial mortgage-backed securities 1,914,998 5,010 (30,186 ) 1,889,822 — Other asset-backed securities 1,234,376 20,936 (5,763 ) 1,249,549 — U.S. government-related securities 1,255,244 185 (32,177 ) 1,223,252 — Other government-related securities 282,767 9,463 (4,948 ) 287,282 — States, municipals, and political subdivisions 1,770,299 16,959 (45,613 ) 1,741,645 (37 ) Corporate securities 29,606,484 623,713 (528,187 ) 29,702,010 (2,564 ) Redeemable preferred stock 94,362 232 (3,503 ) 91,091 — 38,489,362 695,911 (673,410 ) 38,511,863 (2,560 ) Equity securities 735,569 22,318 (8,771 ) 749,116 — Short-term investments 558,949 — — 558,949 — $ 39,783,880 $ 718,229 $ (682,181 ) $ 39,819,928 $ (2,560 ) (1) These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
Schedule of fair value of trading securities	The fair value of the investments held pursuant to these Modco arrangements are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Fixed maturities: Residential mortgage-backed securities $ 241,836 $ 259,694 Commercial mortgage-backed securities 188,925 146,804 Other asset-backed securities 159,907 138,097 U.S. government-related securities 59,794 27,234 Other government-related securities 44,207 63,925 States, municipals, and political subdivisions 286,413 326,925 Corporate securities 1,423,833 1,698,183 Redeemable preferred stock 11,277 3,327 2,416,192 2,664,189 Equity securities 9,892 5,244 Short-term investments 30,926 56,261 $ 2,457,010 $ 2,725,694
Realized gain (losses) on equity securities	The chart below summarizes the realized gains (losses) on equity securities sold during the period and equity securities still held at the reporting date. For The Year Ended December 31, 2018 (Dollars In Thousands) Net gains (losses) recognized during the period on equity securities $ (48,964 ) Less: net gains (losses) recognized on equity securities sold during the period $ (6,165 ) Gains (losses) recognized during the period on equity securities still held $ (42,799 )
Schedule of amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities, by expected maturity	The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2018 , by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment. Available-for-sale Held-to-maturity Amortized Cost Fair Value Amortized Cost Fair Value (Dollars In Thousands) (Dollars In Thousands) Due in one year or less $ 1,146,730 $ 1,142,140 $ — $ — Due after one year through five years 9,272,731 9,120,056 — — Due after five years through ten years 9,200,724 8,947,546 — — Due after ten years 32,429,928 30,278,765 2,633,474 2,547,210 $ 52,050,113 $ 49,488,507 $ 2,633,474 $ 2,547,210
Gain (Loss) on Investments	The chart below summarizes the Company’s other-than-temporary impairments of investments. All of the impairments were related to fixed maturities or equity securities. Fixed Maturities Equity Securities Total Securities (Dollars In Thousands) For The Year Ended December 31, 2018 Other-than-temporary impairments $ (56,578 ) $ — $ (56,578 ) Non-credit impairment losses recorded in other comprehensive income 26,854 — 26,854 Net impairment losses recognized in earnings $ (29,724 ) $ — $ (29,724 ) For The Year Ended December 31, 2017 Other-than-temporary impairments $ (1,332 ) $ (2,630 ) $ (3,962 ) Non-credit impairment losses recorded in other comprehensive income (7,780 ) — (7,780 ) Net impairment losses recognized in earnings $ (9,112 ) $ (2,630 ) $ (11,742 ) For The Year Ended December 31, 2016 Other-than-temporary impairments $ (32,075 ) $ — $ (32,075 ) Non-credit impairment losses recorded in other comprehensive income 14,327 — 14,327 Net impairment losses recognized in earnings $ (17,748 ) $ — $ (17,748 )
Schedule of available-for-sale credit losses on fixed maturities held by the Company for which a portion of other-than-temporary impairments were recognized in other comprehensive income (loss)	The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss): For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 3,268 $ 12,685 $ 22,761 Additions for newly impaired securities 24,858 734 14,876 Additions for previously impaired securities 12 3,175 2,063 Reductions for previously impaired securities due to a change in expected cash flows — (12,726 ) (24,396 ) Reductions for previously impaired securities that were sold in the current period (3,270 ) (600 ) (2,619 ) Other — — — Ending balance $ 24,868 $ 3,268 $ 12,685
Summary of change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale	The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Fixed maturities $ (2,041,445 ) $ 1,086,727 $ 802,368
Schedule of Amortized Cost and Fair Value of the Company's Investments Classified as Held-to-Maturity	The amortized cost and fair value of the Company’s investments classified as held-to-maturity as of December 31, 2018 and December 31, 2017 , are as follows: Amortized Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Total OTTI Recognized in OCI As of December 31, 2018 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 750,474 $ — $ (81,657 ) $ 668,817 $ — Steel City LLC 1,883,000 — (4,607 ) 1,878,393 — $ 2,633,474 $ — $ (86,264 ) $ 2,547,210 $ — Amortized Gross Gross Fair Value Total OTTI Recognized in OCI As of December 31, 2017 (Dollars In Thousands) Fixed maturities: Securities issued by affiliates: Red Mountain LLC $ 704,904 $ — $ (19,163 ) $ 685,741 $ — Steel City LLC 2,014,000 76,586 — 2,090,586 — $ 2,718,904 $ 76,586 $ (19,163 ) $ 2,776,327 $ —

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 : Measurement Category Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities—available-for-sale Residential mortgage-backed securities 4 $ — $ 3,611,590 $ — $ 3,611,590 Commercial mortgage-backed securities 4 — 2,295,084 — 2,295,084 Other asset-backed securities 4 — 970,251 421,642 1,391,893 U.S. government-related securities 4 1,010,485 629,020 — 1,639,505 State, municipalities, and political subdivisions 4 — 3,588,841 — 3,588,841 Other government-related securities 4 — 515,964 — 515,964 Corporate securities 4 — 35,724,552 638,276 36,362,828 Redeemable preferred stock 4 65,536 17,266 — 82,802 Total fixed maturity securities—available-for-sale 1,076,021 47,352,568 1,059,918 49,488,507 Fixed maturity securities—trading Residential mortgage-backed securities 3 — 241,836 — 241,836 Commercial mortgage-backed securities 3 — 188,925 — 188,925 Other asset-backed securities 3 — 133,851 26,056 159,907 U.S. government-related securities 3 27,453 32,341 — 59,794 State, municipalities, and political subdivisions 3 — 286,413 — 286,413 Other government-related securities 3 — 44,207 — 44,207 Corporate securities 3 — 1,417,591 6,242 1,423,833 Redeemable preferred stock 3 11,277 — — 11,277 Total fixed maturity securities—trading 38,730 2,345,164 32,298 2,416,192 Total fixed maturity securities 1,114,751 49,697,732 1,092,216 51,904,699 Equity securities 3 531,523 36 64,325 595,884 Other long-term investments (1) 3&4 83,047 180,438 112,344 375,829 Short-term investments 3 730,067 77,216 — 807,283 Total investments 2,459,388 49,955,422 1,268,885 53,683,695 Cash 3 173,714 — — 173,714 Other assets 3 29,257 — — 29,257 Assets related to separate accounts Variable annuity 3 12,288,919 — — 12,288,919 Variable universal life 3 937,732 — — 937,732 Total assets measured at fair value on a recurring basis $ 15,889,010 $ 49,955,422 $ 1,268,885 $ 67,113,317 Liabilities: Annuity account balances (2) 3 $ — $ — $ 76,119 $ 76,119 Other liabilities (1) 3&4 56,018 69,501 629,942 755,461 Total liabilities measured at fair value on a recurring basis $ 56,018 $ 69,501 $ 706,061 $ 831,580 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. (3) Fair Value through Net Income. (4) Fair Value through Other Comprehensive Income. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Assets: Fixed maturity securities—available-for-sale Residential mortgage-backed securities $ — $ 2,327,212 $ — $ 2,327,212 Commercial mortgage-backed securities — 1,889,822 — 1,889,822 Other asset-backed securities — 745,184 504,365 1,249,549 U.S. government-related securities 958,775 264,477 — 1,223,252 State, municipalities, and political subdivisions — 1,741,645 — 1,741,645 Other government-related securities — 287,282 — 287,282 Corporate securities — 29,075,109 626,901 29,702,010 Redeemable preferred stock 72,471 18,620 — 91,091 Total fixed maturity securities—available-for-sale 1,031,246 36,349,351 1,131,266 38,511,863 Fixed maturity securities—trading Residential mortgage-backed securities — 259,694 — 259,694 Commercial mortgage-backed securities — 146,804 — 146,804 Other asset-backed securities — 102,875 35,222 138,097 U.S. government-related securities 21,183 6,051 — 27,234 State, municipalities, and political subdivisions — 326,925 — 326,925 Other government-related securities — 63,925 — 63,925 Corporate securities — 1,692,741 5,442 1,698,183 Redeemable preferred stock 3,327 — — 3,327 Total fixed maturity securities—trading 24,510 2,599,015 40,664 2,664,189 Total fixed maturity securities 1,055,756 38,948,366 1,171,930 41,176,052 Equity securities 688,214 36 66,110 754,360 Other long-term investments (1) 51,102 417,969 136,004 605,075 Short-term investments 482,461 132,749 — 615,210 Total investments 2,277,533 39,499,120 1,374,044 43,150,697 Cash 252,310 — — 252,310 Other assets 28,771 — — 28,771 Assets related to separate accounts Variable annuity 13,956,071 — — 13,956,071 Variable universal life 1,035,202 — — 1,035,202 Total assets measured at fair value on a recurring basis $ 17,549,887 $ 39,499,120 $ 1,374,044 $ 58,423,051 Liabilities: Annuity account balances (2) $ — $ — $ 83,472 $ 83,472 Other liabilities (1) 5,755 240,927 760,890 1,007,572 Total liabilities measured at fair value on a recurring basis $ 5,755 $ 240,927 $ 844,362 $ 1,091,044 (1) Includes certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of the financial instruments	The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 504,228 Discounted cash flow Liquidation value $90 - $97 ($94.91) Discounted cash flow Liquidity premium 0.06% - 1.17% (0.75%) Paydown rate 11.31% - 11.97% (11.54%) Corporate securities 617,770 Discounted cash flow Spread over treasury 0.81% - 3.95% (1.06%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 111,760 Actuarial cash flow model Mortality 91.1% to 106.6% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on product/duration/funded status of guarantee Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.11% - 0.79% Embedded derivative—FIA 218,676 Actuarial cash flow model Expenses $146 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 1994 MGDB table with company experience Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.11% - 0.79% Embedded derivative - IUL 80,212 Actuarial cash flow model Mortality 34% - 152% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.11% - 0.79% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability. The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments: Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (Dollars In Thousands) Assets: Other asset-backed securities $ 421,458 Liquidation Liquidation value $85.75 - $99.99 ($95.36) Discounted cash flow Liquidity premium 0.02% - 1.25% (0.64%) Paydown rate 10.96% - 13.11% (12.03%) Corporate securities 631,068 Discounted cash flow Spread over treasury 0.84% - 3.0% (1.84%) Liabilities: (1) Embedded derivatives—GLWB (2) $ 184,071 Actuarial cash flow model Mortality 87% to 100% of Ruark 2015 ALB table Lapse Ruark Predictive Model Utilization 99%. 10% of policies have a one-time over-utilization of 400% Nonperformance risk 0.21% - 1.16% Embedded derivative—FIA 217,288 Actuarial cash flow model Expenses $145 per policy Withdrawal rate 1.5% prior to age 70, 100% of the RMD for ages 70+ Mortality 87% to 100% of Ruark 2015 ALB table Lapse 1.0% - 30.0%, depending on duration/surrender charge period Nonperformance risk 0.21% - 1.16% Embedded derivative—IUL 90,231 Actuarial cash flow model Mortality 37% - 577% of 2015 VBT Primary Tables Lapse 0.5% - 10.0%, depending on duration/distribution channel and smoking class Nonperformance risk 0.21% - 1.16% (1) Excludes modified coinsurance arrangements. (2) The fair value for the GLWB embedded derivative is presented as a net liability.
Schedule of reconciliation of the beginning and ending balances for fair value measurements, for which the Company has used significant unobservable inputs (Level 3)	The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2017 , for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date Total Realized and Unrealized Gains Total Realized and Unrealized Losses Beginning Balance Included in Earnings Included in Other Comprehensive Income Included in Earnings Included in Other Comprehensive Income Purchases Sales Issuances Settlements Transfers in/out of Level 3 Other Ending Balance (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ 3 $ — $ 83 $ — $ — $ 11,862 $ (3 ) $ — $ — $ (11,944 ) $ (1 ) $ — $ — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 562,604 1,409 15,136 — (10,931 ) 100 (59,175 ) — — (6,643 ) 1,865 504,365 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 664,046 — 27,637 — (13,089 ) 131,822 (169,002 ) — — (10,353 ) (4,160 ) 626,901 — Total fixed maturity securities— available-for-sale 1,226,653 1,409 42,856 — (24,020 ) 143,784 (228,180 ) — — (28,940 ) (2,296 ) 1,131,266 — Fixed maturity securities—trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 84,563 3,768 — (1,157 ) — — (52,835 ) — — — 883 35,222 3,483 U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 5,492 101 — (58 ) — — — — — — (93 ) 5,442 44 Total fixed maturity securities—trading 90,055 3,869 — (1,215 ) — — (52,835 ) — — — 790 40,664 3,527 Total fixed maturity securities 1,316,708 5,278 42,856 (1,215 ) (24,020 ) 143,784 (281,015 ) — — (28,940 ) (1,506 ) 1,171,930 3,527 Equity securities 69,010 2 52 (2,630 ) (53 ) — (274 ) — — 3 — 66,110 3 Other long-term investments (1) 124,325 27,158 — (15,479 ) — — — — — — — 136,004 11,679 Short-term investments — — — — — — — — — — — — — Total investments 1,510,043 32,438 42,908 (19,324 ) (24,073 ) 143,784 (281,289 ) — — (28,937 ) (1,506 ) 1,374,044 15,209 Total assets measured at fair value on a recurring basis $ 1,510,043 $ 32,438 $ 42,908 $ (19,324 ) $ (24,073 ) $ 143,784 $ (281,289 ) $ — $ — $ (28,937 ) $ (1,506 ) $ 1,374,044 $ 15,209 Liabilities: Annuity account balances (2) $ 87,616 $ — $ — $ (4,001 ) $ — $ — $ — $ 623 $ 8,768 $ — $ — $ 83,472 $ — Other liabilities (1) 571,843 93,071 — (282,118 ) — — — — — — — 760,890 (189,047 ) Total liabilities measured at fair value on a recurring basis $ 659,459 $ 93,071 $ — $ (286,119 ) $ — $ — $ — $ 623 $ 8,768 $ — $ — $ 844,362 $ (189,047 ) (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities. The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2018 , for which the Company has used significant unobservable inputs (Level 3): Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date Total Realized and Unrealized Gains Total Realized and Unrealized Losses Beginning Balance Included in Earnings Included in Other Comprehensive Income Included in Earnings Included in Other Comprehensive Income Purchases Sales Issuances Settlements Transfers in/out of Level 3 Other Ending Balance (Dollars In Thousands) Assets: Fixed maturity securities available-for-sale Residential mortgage-backed securities $ — $ — $ — $ — $ (995 ) $ 22,225 $ — $ — $ — $ (21,281 ) $ 51 $ — $ — Commercial mortgage-backed securities — — 50 — (2,496 ) 48,621 (293 ) — — (45,832 ) (50 ) — — Other asset-backed securities 504,365 3,716 16,503 (159 ) (25,577 ) — (80,051 ) — — 222 2,623 421,642 — U.S. government-related securities — — — — — — — — — — — — — States, municipals, and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 626,901 — 12,537 — (29,017 ) 108,491 (97,676 ) — — 20,721 (3,681 ) 638,276 — Total fixed maturity securities— available-for-sale 1,131,266 3,716 29,090 (159 ) (58,085 ) 179,337 (178,020 ) — — (46,170 ) (1,057 ) 1,059,918 — Fixed maturity securities—trading Residential mortgage-backed securities — — — — — — — — — — — — — Commercial mortgage-backed securities — — — — — — — — — — — — — Other asset-backed securities 35,222 464 — (3,798 ) — 8,728 (14,511 ) — — 164 (213 ) 26,056 (3,179 ) U.S. government-related securities — — — — — — — — — — — — — States, municipals and political subdivisions — — — — — — — — — — — — — Other government-related securities — — — — — — — — — — — — — Corporate securities 5,442 45 — (145 ) — 999 — — — — (99 ) 6,242 (101 ) Total fixed maturity securities—trading 40,664 509 — (3,943 ) — 9,727 (14,511 ) — — 164 (312 ) 32,298 (3,280 ) Total fixed maturity securities 1,171,930 4,225 29,090 (4,102 ) (58,085 ) 189,064 (192,531 ) — — (46,006 ) (1,369 ) 1,092,216 (3,280 ) Equity securities 66,110 375 — (93 ) — 36 (2,103 ) — — — — 64,325 282 Other long-term investments (1) 136,004 51,161 — (74,821 ) — — — — — — — 112,344 (23,660 ) Short-term investments — — — — — — — — — — — — — Total investments 1,374,044 55,761 29,090 (79,016 ) (58,085 ) 189,100 (194,634 ) — — (46,006 ) (1,369 ) 1,268,885 (26,658 ) Total assets measured at fair value on a recurring basis $ 1,374,044 $ 55,761 $ 29,090 $ (79,016 ) $ (58,085 ) $ 189,100 $ (194,634 ) $ — $ — $ (46,006 ) $ (1,369 ) $ 1,268,885 $ (26,658 ) Liabilities: Annuity account balances (2) $ 83,472 $ — $ — $ (3,505 ) $ — $ — $ — $ 623 $ 11,481 $ — $ — $ 76,119 $ — Other liabilities (1) 760,890 401,350 — (270,402 ) — — — — — — — 629,942 130,948 Total liabilities measured at fair value on a recurring basis $ 844,362 $ 401,350 $ — $ (273,907 ) $ — $ — $ — $ 623 $ 11,481 $ — $ — $ 706,061 $ 130,948 (1) Represents certain freestanding and embedded derivatives. (2) Represents liabilities related to fixed indexed annuities.
Schedule of the carrying amounts and estimated fair value of the Company's financial instruments	The carrying amounts and estimated fair values of the Company’s financial instruments as of the periods shown below are as follows: As of December 31, 2018 2017 Fair Value Level Carrying Amounts Fair Values Carrying Amounts Fair Values (Dollars In Thousands) (Dollars In Thousands) Assets: Mortgage loans on real estate 3 $ 7,724,733 $ 7,447,702 $ 6,817,723 $ 6,740,177 Policy loans 3 1,695,886 1,695,886 1,615,615 1,615,615 Fixed maturities, held-to-maturity (1) 3 2,633,474 2,547,210 2,718,904 2,776,327 Liabilities: Stable value product account balances 3 $ 5,234,731 $ 5,200,723 $ 4,698,371 $ 4,698,868 Future policy benefits and claims (2) 3 1,671,414 1,671,434 220,498 220,498 Other policyholders’ funds (3) 3 131,150 131,782 133,508 134,253 Debt: (4) Bank borrowings 3 $ — $ — $ — $ — Senior Notes 2 1,100,508 1,065,338 943,370 933,926 Subordinated debentures 2 495,426 494,265 495,289 501,215 Subordinated funding obligations 3 110,000 95,476 — — Non-recourse funding obligations (5) 3 2,632,497 2,550,237 2,747,477 2,804,983 Except as noted below, fair values were estimated using quoted market prices. (1) Securities purchased from unconsolidated subsidiaries, Red Mountain LLC and Steel City LLC. (2) Single premium immediate annuity without life contingencies. (3) Supplementary contracts without life contingencies. (4) Excludes capital lease obligations of $1.3 million and $1.7 million as of December 31, 2018 and 2017, respectively. (5) As of December 31, 2018, carrying amount of $2.6 billion and a fair value of $2.5 billion related to non-recourse funding obligations issued by Golden Gate and Golden Gate V. As of December 31, 2017, carrying amount of $2.7 billion and a fair value of $2.8 billion related to non-recourse funding obligations issued by Golden Gate and Golden Gate V.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of realized investments gains and losses	The following table sets forth realized investment gains and losses for the periods shown: Realized investment gains (losses)—derivative financial instruments For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivatives related to VA contracts: Interest rate futures $ (25,473 ) $ 26,015 $ (3,450 ) Equity futures (88,208 ) (91,776 ) (106,431 ) Currency futures 10,275 (23,176 ) 33,836 Equity options 38,083 (94,791 ) (60,962 ) Interest rate swaptions (14 ) (2,490 ) (1,161 ) Interest rate swaps (45,185 ) 27,981 20,420 Total return swaps 77,225 (32,240 ) — Embedded derivative - GLWB (72,313 ) 3,614 68,056 Total derivatives related to VA contracts (105,610 ) (186,863 ) (49,692 ) Derivatives related to FIA contracts: Embedded derivative 35,397 (55,878 ) (16,494 ) Equity futures 330 642 4,248 Equity options (38,885 ) 44,585 8,149 Total derivatives related to FIA contracts (3,158 ) (10,651 ) (4,097 ) Derivatives related to IUL contracts: Embedded derivative 9,062 (14,117 ) 9,529 Equity futures 261 (818 ) 129 Equity options (6,338 ) 9,580 3,477 Total derivatives related to IUL contracts 2,985 (5,355 ) 13,135 Embedded derivative - Modco reinsurance treaties 166,757 (103,009 ) 390 Other derivatives 14 50 (24 ) Total realized gains (losses)—derivatives $ 60,988 $ (305,828 ) $ (40,288 )
Schedule of components of the gain or loss on derivatives that qualify as a cash flow hedging relationship	The following tables present the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship: Gain (Loss) on Derivatives in Cash Flow Relationship Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Effective Portion) (Effective Portion) (Ineffective Portion) Benefits and settlement expenses Realized investment gains (losses) (Dollars In Thousands) For The Year Ended December 31, 2018 Foreign currency swaps $ (812 ) $ (798 ) $ — Interest rate swaps (1,574 ) (633 ) — Total $ (2,386 ) $ (1,431 ) $ — For The Year Ended December 31, 2017 Foreign currency swaps $ (867 ) $ (694 ) $ — Total $ (867 ) $ (694 ) $ — For The Year Ended December 31, 2016 Foreign currency swaps $ 1,058 $ (60 ) $ — Total $ 1,058 $ (60 ) $ —
Schedule of information about the nature and accounting treatment of the Company's primary derivative financial instruments and the location in and effect on the consolidated financial statements	The tables below present information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated financial statements for the periods presented below: As of December 31, 2018 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars In Thousands) Other long-term investments Cash flow hedges: Foreign currency swaps $ — $ — $ 117,178 $ 6,016 Derivatives not designated as hedging instruments: Interest rate swaps 1,515,500 28,501 1,265,000 55,411 Total return swaps 138,070 3,971 190,938 135 Embedded derivative - Modco reinsurance treaties 585,294 7,072 64,472 1,009 Embedded derivative - GLWB 3,984,070 105,272 4,897,069 134,995 Interest rate futures 286,208 10,302 1,071,870 3,178 Equity futures 12,633 483 62,266 154 Currency futures — — 1,117 2 Equity options 5,624,081 220,092 4,436,467 403,961 Interest rate swaptions — — 225,000 14 Other 157 136 157 200 $ 12,146,013 $ 375,829 $ 12,331,534 $ 605,075 Other liabilities Cash flow hedges: Interest rate swaps $ 350,000 $ — $ — $ — Foreign currency swaps 117,178 904 — — Derivatives not designated as hedging instruments: Interest rate swaps 775,000 11,367 597,500 2,960 Total return swaps 768,177 23,054 243,388 318 Embedded derivative - Modco reinsurance treaties 1,795,287 32,828 2,390,539 215,247 Embedded derivative - GLWB 8,466,019 289,343 4,718,311 246,755 Embedded derivative - FIA 2,576,033 217,288 1,951,650 218,676 Embedded derivative - IUL 233,550 90,231 168,349 80,212 Interest rate futures 863,706 20,100 230,404 917 Equity futures 659,357 33,753 318,795 2,593 Currency futures 202,747 2,163 255,248 2,087 Equity options 4,199,687 34,178 3,112,812 237,807 Other 3,288 252 — — $ 21,010,029 $ 755,461 $ 13,986,996 $ 1,007,572

OFFSETTING OF ASSETS AND LIAB_2

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Schedule of derivative instruments by assets	The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2018 : Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 263,349 $ — $ 263,349 $ 70,322 $ 99,199 $ 93,828 Total derivatives, subject to a master netting arrangement or similar arrangement 263,349 — 263,349 70,322 99,199 93,828 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 7,072 — 7,072 — — 7,072 Embedded derivative - GLWB 105,272 — 105,272 — — 105,272 Other 136 — 136 — — 136 Total derivatives, not subject to a master netting arrangement or similar arrangement 112,480 — 112,480 — — 112,480 Total derivatives 375,829 — 375,829 70,322 99,199 206,308 Total Assets $ 375,829 $ — $ 375,829 $ 70,322 $ 99,199 $ 206,308 The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2017 : Net Amounts of Assets Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Financial Instruments Collateral Received Net Amount (Dollars In Thousands) Offsetting of Derivative Assets Derivatives: Free-Standing derivatives $ 468,871 $ — $ 468,871 $ 242,105 $ 108,830 $ 117,936 Total derivatives, subject to a master netting arrangement or similar arrangement 468,871 — 468,871 242,105 108,830 117,936 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 1,009 — 1,009 — — 1,009 Embedded derivative - GLWB 134,995 — 134,995 — — 134,995 Other 200 — 200 — — 200 Total derivatives, not subject to a master netting arrangement or similar arrangement 136,204 — 136,204 — — 136,204 Total derivatives 605,075 — 605,075 242,105 108,830 254,140 Total Assets $ 605,075 $ — $ 605,075 $ 242,105 $ 108,830 $ 254,140
Schedule of derivative instruments by liabilities	Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 125,519 $ — $ 125,519 $ 70,322 $ 47,856 $ 7,341 Total derivatives, subject to a master netting arrangement or similar arrangement 125,519 — 125,519 70,322 47,856 7,341 Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 32,828 — 32,828 — — 32,828 Embedded derivative - GLWB 289,343 — 289,343 — — 289,343 Embedded derivative - FIA 217,288 — 217,288 — — 217,288 Embedded derivative - IUL 90,231 — 90,231 — — 90,231 Other 252 — 252 — — 252 Total derivatives, not subject to a master netting arrangement or similar arrangement 629,942 — 629,942 — — 629,942 Total derivatives 755,461 — 755,461 70,322 47,856 637,283 Repurchase agreements (1) 418,090 — 418,090 — — 418,090 Total Liabilities $ 1,173,551 $ — $ 1,173,551 $ 70,322 $ 47,856 $ 1,055,373 (1) Borrowings under repurchase agreements are for a term less than 90 days. Net Amounts of Liabilities Presented in the Statement of Financial Position Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts Offset in the Statement of Financial Position Gross Amounts of Recognized Liabilities Financial Instruments Collateral Posted Net Amount (Dollars In Thousands) Offsetting of Derivative Liabilities Derivatives: Free-Standing derivatives $ 246,682 $ — $ 246,682 $ 242,105 $ 4,577 $ — Total derivatives, subject to a master netting arrangement or similar arrangement 246,682 — 246,682 242,105 4,577 — Derivatives not subject to a master netting arrangement or similar arrangement Embedded derivative - Modco reinsurance treaties 215,247 — 215,247 — — 215,247 Embedded derivative - GLWB 246,755 — 246,755 — — 246,755 Embedded derivative - FIA 218,676 — 218,676 — — 218,676 Embedded derivative - IUL 80,212 — 80,212 — — 80,212 Total derivatives, not subject to a master netting arrangement or similar arrangement 760,890 — 760,890 — — 760,890 Total derivatives 1,007,572 — 1,007,572 242,105 4,577 760,890 Repurchase agreements (1) 885,000 — 885,000 — — 885,000 Total Liabilities $ 1,892,572 $ — $ 1,892,572 $ 242,105 $ 4,577 $ 1,645,890 (1) Borrowings under repurchase agreements are for a term less than 90 days.

MORTGAGE LOANS (Tables)

MORTGAGE LOANS (Tables)	12 Months Ended
	Dec. 31, 2018
MORTGAGE LOANS
Schedule of the breakdown of the commercial mortgage loan portfolio by property type	The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2018 : Type Percentage of Mortgage Loans on Real Estate Retail 45.0 % Office Buildings 13.2 Apartments 10.2 Warehouses 11.3 Senior housing 15.8 Other 4.5 100.0 %
Schedule of mortgage loans by location of properties	Approximately 62.5% of the mortgage loans are on properties located in the following states: State Percentage of Mortgage Loans on Real Estate Florida 8.8 % Alabama 8.6 Texas 7.5 Georgia 7.3 California 7.2 Michigan 4.8 Tennessee 4.7 Utah 4.7 Ohio 4.5 North Carolina 4.4 62.5 %
Schedule of changes in the allowance for mortgage loan credit losses	A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property. As of December 31, 2018 2017 (Dollars In Thousands) Beginning balance $ — $ 724 Charge offs — (6,708 ) Recoveries (209 ) (731 ) Provision 1,505 6,715 Ending balance $ 1,296 $ —
Schedule of an analysis of the delinquent loans	An analysis of the delinquent loans is shown in the following chart: 30 - 59 Days Delinquent 60 - 89 Days Delinquent Greater than 90 Days Delinquent Total Delinquent (Dollars In Thousands) As of December 31, 2018 Commercial mortgage loans $ 1,044 $ — $ 1,234 $ 2,278 Number of delinquent commercial mortgage loans 4 — 1 5 As of December 31, 2017 Commercial mortgage loans $ 1,817 $ — $ — $ 1,817 Number of delinquent commercial mortgage loans 2 — — 2
Schedule of information regarding impaired loans	For information regarding impaired loans, please refer to the following chart: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income (Dollars In Thousands) As of December 31, 2018 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded 5,684 5,309 1,296 1,895 267 293 As of December 31, 2017 Commercial mortgage loans: With no related allowance recorded $ — $ — $ — $ — $ — $ — With an allowance recorded — — — — — —
Schedule of mortgage loans that were modified in a troubled debt restructuring	Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2018 and December 31, 2017 were as follows: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars In Thousands) As of December 31, 2018 Troubled debt restructuring: Commercial mortgage loans 1 $ 2,688 $ 1,742 As of December 31, 2017 Troubled debt restructuring: Commercial mortgage loans 1 $ 418 $ 418

DEFERRED POLICY ACQUISITION C_2

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)	12 Months Ended
	Dec. 31, 2018
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED
Schedule of balances and changes in DAC	The balances and changes in DAC are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 837,785 $ 572,328 Capitalization of commissions, sales, and issue expenses 446,468 333,250 Amortization (133,337 ) (52,559 ) Change due to unrealized investment gains and losses 56,153 (15,234 ) Implementation of ASU 2014-09 138,434 — Balance, end of period $ 1,345,503 $ 837,785
Schedule of balances and changes in VOBA	The balances and changes in VOBA are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Balance, beginning of period $ 1,361,792 $ 1,447,501 Acquisitions 336,862 — Amortization (92,471 ) (25,662 ) Change due to unrealized investment gains and losses 71,468 (60,047 ) Balance, end of period $ 1,677,651 $ 1,361,792
Schedule of expected amortization of VOBA for the next five years	Based on the balance recorded as of December 31, 2018 , the expected amortization of VOBA for the next five years is as follows: Expected Years Amortization (Dollars In Thousands) 2019 $ 139,662 2020 128,465 2021 114,081 2022 104,147 2023 94,740

CERTAIN NONTRADITIONAL LONG-D_2

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2018
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Schedule of activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)	Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Beginning balance $ 34,083 $ 34,796 $ 36,427 Incurred guarantee benefits 13,619 902 678 Less: Paid guarantee benefits 3,381 1,615 2,309 Ending balance $ 44,321 $ 34,083 $ 34,796
Schedule of account balances of variable annuities with guarantees invested in VA separate accounts	Account balances of variable annuities with guarantees invested in VA separate accounts are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Equity mutual funds $ 5,300,024 $ 8,914,637 Fixed income mutual funds 6,568,575 4,820,349 Total $ 11,868,599 $ 13,734,986
Schedule of activity in the Company's deferred sales inducement asset	Activity in the Company’s deferred sales inducement asset was as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Deferred asset, beginning of period $ 30,956 $ 22,497 $ 11,756 Amounts deferred 13,336 14,246 16,212 Amortization (4,715 ) (5,787 ) (5,471 ) Deferred asset, end of period $ 39,577 $ 30,956 $ 22,497

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Schedule of net life insurance in-force	The following table presents the net life insurance in-force: As of December 31, 2018 2017 (Dollars In Thousands) Direct life insurance in-force $ 765,986,223 $ 751,512,468 Amounts assumed from other companies 135,407,408 110,205,190 Amounts ceded to other companies (302,149,614 ) (328,377,398 ) Net life insurance in-force $ 599,244,017 $ 533,340,260 Percentage of amount assumed to net 23 % 21 %
Schedule of effect of reinsurance on life insurance premiums written and earned	Future policy benefit liabilities for the year indicated are as follows: As of December 31, 2018 2017 2018 2017 Total Policy Liabilities and Accruals Reinsurance Receivable (Dollars In Thousands) (Dollars In Thousands) Life and annuity benefit reserves $ 40,883,229 $ 29,972,938 $ 3,582,850 $ 3,898,079 Unpaid life claim liabilities 654,077 595,188 383,376 362,827 Life and annuity future policy benefits 41,537,306 30,568,126 3,966,226 4,260,906 Other policy benefits reserves 142,855 157,101 80,688 92,330 Other policy benefits unpaid claim liabilities 221,391 232,365 176,155 185,826 Future policy benefits and claims and associated reinsurance receivable $ 41,901,552 $ 30,957,592 $ 4,223,069 $ 4,539,062 Unearned premiums 872,594 875,405 541,674 536,636 Total policy liabilities and accruals and associated reinsurance receivable $ 42,774,146 $ 31,832,997 $ 4,764,743 $ 5,075,698 The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned: Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount (Dollars In Thousands) For The Year Ended December 31, 2018: Premiums and policy fees: Life insurance $ 2,681,191 $ (1,173,194 ) $ 626,283 $ 2,134,280 (1) Accident/health insurance 47,028 (30,126 ) 12,826 29,728 Property and liability insurance 308,634 (181,621 ) 4,883 131,896 Total $ 3,036,853 $ (1,384,941 ) $ 643,992 $ 2,295,904 December 31, 2017: Premiums and policy fees: Life insurance $ 2,655,846 $ (1,151,175 ) $ 435,113 $ 1,939,784 (1) Accident/health insurance 51,991 (33,051 ) 14,945 33,885 Property and liability insurance 309,848 (176,509 ) 9,676 143,015 Total $ 3,017,685 $ (1,360,735 ) $ 459,734 $ 2,116,684 December 31, 2016: Premiums and policy fees: Life insurance $ 2,610,682 $ (1,126,915 ) $ 454,999 $ 1,938,766 (1) Accident/health insurance 58,076 (36,935 ) 17,439 38,580 Property and liability insurance 261,009 (150,866 ) 5,726 115,869 Total $ 2,929,767 $ (1,314,716 ) $ 478,164 $ 2,093,215 (1) Includes annuity policy fees of $177.1 million , $173.5 million , and $160.4 million , for the years ended December 31, 2018 , 2017, and 2016, respectively.
Schedule of receivables attributable to more significant reinsurance partners	The following table sets forth the receivables attributable to our more significant reinsurance partners: As of December 31, 2018 2017 Reinsurance Receivable A.M. Best Rating Reinsurance Receivable A.M. Best Rating (Dollars In Millions) Security Life of Denver Insurance Company $ 722.2 A $ 740.8 A Swiss Re Life & Health America, Inc. 603.8 A+ 614.8 A+ Lincoln National Life Insurance Co. 461.1 A+ 489.1 A+ SCOR Global Life (1) 317.2 A+ 331.8 A+ Transamerica Life Insurance Co. 301.0 A+ 335.6 A+ RGA Reinsurance Company 260.5 A+ 278.3 A+ American United Life Insurance Company 242.8 A+ 266.7 A+ Centre Reinsurance (Bermuda) Ltd 197.4 NR 212.2 NR The Canada Life Assurance Company 188.2 A+ 186.1 A+ Employers Reassurance Corporation 178.4 B+ 193.9 A- (1) Includes SCOR Global Life Americas Reinsurance Company, SCOR Global Life USA Reinsurance Co, and SCOR Global Life Reinsurance Co of Delaware

DEBT AND OTHER OBLIGATIONS (Tab

DEBT AND OTHER OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Summary of debt and subordinated debt securities	Debt and subordinated debt securities are summarized as follows: As of December 31, 2018 2017 Outstanding Principal Carrying Amounts Outstanding Principal Carrying Amounts (Dollars In Thousands) Debt (year of issue): Credit Facility $ — $ — $ — $ — Capital lease obligation 1,319 1,319 1,682 1,682 6.40% Senior Notes (2007), due 2018 — — 150,000 150,518 7.375% Senior Notes (2009), due 2019 400,000 416,469 400,000 435,806 8.45% Senior Notes (2009), due 2039 190,044 288,547 232,928 357,046 4.30% Senior Notes (2018), due 2028 400,000 395,492 — — $ 991,363 $ 1,101,827 $ 784,610 $ 945,052 Subordinated debt (year of issue): 5.35% Subordinated Debentures (2017), due 2052 $ 500,000 $ 495,426 $ 500,000 $ 495,289 3.55% Subordinated Funding Obligations (2018), due 2038 55,000 55,000 — — 3.55% Subordinated Funding Obligations (2018), due 2038 55,000 55,000 — — $ 610,000 $ 605,426 $ 500,000 $ 495,289
Summary of estimated debt covenant calculations	The following is a summary of the Company’s estimated debt covenant calculations as of December 31, 2018 : Requirement Actual Results Consolidated net worth margin greater than or equal to $0 greater than $1 billion Debt to total capital ratio less than 40% less than 23%
Non-recourse funding obligations outstanding	Non-recourse funding obligations outstanding as of December 31, 2018, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Weighted-Avg Interest Rate (Dollars In Thousands) Golden Gate Captive Insurance Company (2)(3) $ 1,883,000 $ 1,883,000 2039 4.75 % Golden Gate II Captive Insurance Company 20,600 17,703 2052 4.99 % Golden Gate V Vermont Captive Insurance Company (2)(3) 670,000 729,454 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,340 2024 6.19 % Total $ 2,574,691 $ 2,632,497 (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of the Company. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of PLICO. (3) Fixed rate obligations Non-recourse funding obligations outstanding as of December 31, 2017, on a consolidated basis, are shown in the following table: Issuer Outstanding Principal Carrying Value (1) Maturity Year Year-to-Date Golden Gate Captive Insurance Company (2)(3) $ 2,014,000 $ 2,014,000 2039 4.75 % Golden Gate II Captive Insurance Company 58,600 49,787 2052 3.88 % Golden Gate V Vermont Captive Insurance Company (2)(3) 620,000 681,285 2037 5.12 % MONY Life Insurance Company (3) 1,091 2,405 2024 6.19 % Total $ 2,693,691 $ 2,747,477 (1) Carrying values include premiums and discounts and do not represent unpaid principal balances. (2) Obligations are issued to non-consolidated subsidiaries of the Company. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of PLICO. (3) Fixed rate obligations
Schedule of collateral pledged for repurchase agreements	The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class, as of December 31, 2018 and December 31, 2017: Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2018 (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 433,182 $ 18,713 $ — $ — $ 451,895 Mortgage loans — — — — — Total repurchase agreements and repurchase-to-maturity transactions 433,182 18,713 — — 451,895 Securities lending transactions Fixed maturity securities 71,285 — — — 71,285 Equity securities 891 — — — 891 Redeemable preferred stock — — — — — Total securities lending transactions 72,176 — — — 72,176 Total securities $ 505,358 $ 18,713 $ — $ — $ 524,071 Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements As of December 31, 2017 (Dollars In Thousands) Overnight and Greater Than Continuous Up to 30 days 30 - 90 days 90 days Total Repurchase agreements and repurchase-to-maturity transactions U.S. Treasury and agency securities $ 307,633 $ — $ — $ — $ 307,633 Mortgage loans 698,974 — — — 698,974 Total repurchase agreements and repurchase-to-maturity transactions 1,006,607 — — — 1,006,607 Securities lending transactions Corporate securities 118,817 — — — 118,817 Equity securities 5,699 — — — 5,699 Redeemable preferred stock 755 — — — 755 Total securities lending transactions 125,271 — — — 125,271 Total securities $ 1,131,878 $ — $ — $ — $ 1,131,878
Interest Income and Interest Expense Disclosure	Interest expense is summarized as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Millions) Debt, subordinated debt, and subordinated funding obligations $ 66.5 $ 61.3 $ 62.1 Non-recourse funding obligations, other obligations, and repurchase agreements 172.6 171.9 163.7 Total interest expense $ 239.1 $ 233.2 $ 225.8

COMMITMENTS AND CONTINGENCIES (

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

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Schedule of benefit obligation, fair value of plan assets and the funded status of the Company's defined benefit pension plan and unfunded excess benefit plan	The following table presents the benefit obligation, fair value of plan assets, funded status, and amounts not yet recognized as components of net periodic pension costs for the Company’s defined benefit pension plan and unfunded excess benefit plan as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Qualified Pension Plan Nonqualified Excess Pension Plan Qualified Pension Plan Nonqualified Excess Benefit Plan (Dollars In Thousands) Accumulated benefit obligation, end of year $ 269,802 $ 46,299 $ 278,084 $ 50,149 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 300,423 $ 54,590 $ 265,848 $ 47,802 Service cost 13,185 1,415 12,011 1,350 Interest cost 9,830 1,436 9,846 1,480 Amendments — — — — Actuarial (gain)/loss (15,608 ) (2,001 ) 26,539 7,861 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Projected benefit obligation at end of year 288,129 47,345 300,423 54,590 Change in plan assets: Fair value of plan assets at beginning of year 260,926 — 201,843 — Actual return on plan assets (6,070 ) — 29,404 — Employer contributions (1) 18,800 8,095 43,500 3,903 Benefits paid (19,701 ) (8,095 ) (13,821 ) (3,903 ) Fair value of plan assets at end of year 253,955 — 260,926 — After reflecting FASB guidance: Funded status (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in the balance sheet: Other liabilities (34,174 ) (47,345 ) (39,497 ) (54,590 ) Amounts recognized in accumulated other comprehensive income: Net actuarial (gain)/loss 10,370 9,025 2,850 13,521 Prior service cost/(credit) — — — — Total amounts recognized in AOCI $ 10,370 $ 9,025 $ 2,850 $ 13,521 (1) Employer contributions are shown based on the calendar year in which contributions were made to each plan.
Schedule of weighted-average assumptions used to determine benefit obligations	Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan 2018 2017 2018 2017 Discount rate 4.21 % 3.55 % 3.93 % 3.26 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above
Schedule of weighted-average assumptions used to determine the net periodic benefit cost	Weighted-average assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018 , 2017 , and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.55 % 4.04 % 4.29 % 3.25 % 3.60 % 3.63 % Rate of compensation increase 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above 4.75% prior to age 40/ 3.75% for age 40 and above Expected long-term return on plan assets 7.00 % 7.00 % 7.25 % N/A N/A N/A
Components of the net periodic benefit cost of the Company's defined benefit pension plan and unfunded excess benefit plan	Components of the net periodic benefit cost for the years ended December 31, 2018 , 2017, and 2016 are as follows: Qualified Pension Plan Nonqualified Excess Pension Plan For The Year Ended December 31, 2018 2017 2016 2018 2017 2016 (Dollars In Thousands) Service cost—benefits earned during the period $ 13,185 $ 12,011 $ 12,791 $ 1,415 $ 1,350 $ 1,413 Interest cost on projected benefit obligation 9,830 9,846 9,751 1,436 1,480 1,353 Expected return on plan assets (17,058 ) (13,570 ) (13,780 ) — — — Amortization of prior service cost/(credit) — — — — — — Amortization of actuarial loss/(gain) (1) — — — 969 634 178 Preliminary net periodic benefit cost 5,957 8,287 8,762 3,820 3,464 2,944 Settlement/curtailment expense (2)(3)(4) — — (964 ) 1,526 — 2,135 Total net periodic benefit cost $ 5,957 $ 8,287 $ 7,798 $ 5,346 $ 3,464 $ 5,079 (1) 2018 average remaining service period used is 9.17 years and for the unfunded excess benefit plan was 7.73 years from January 1, 2018 to June 30, 2018 and 7.87 from July 1, 2018 to December 31, 2018. (2) In 2016, the Company amended its Qualified Pension Plan to offer a limited-time opportunity of benefit payouts to eligible, terminated-vested participants (“lump sum window”). The lump sum window provided eligible, terminated-vested participants with an option to elect to receive a lump sum settlement of his or her pension benefit in December 2016 or to elect receipt of monthly pension benefits commencing in December 2016. This event triggered settlement accounting for the Company and resulted in the recognition of $1.0 million of settlement income for the twelve months ended December 31, 2016. (3) The Nonqualified Excess Pension Plan triggered settlement accounting for the year ended December 31, 2018 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost. (4) In 2016, the Board of Directors of Protective Life Corporation approved the conversion of the accrued benefit payable under the Nonqualified Excess Pension Plan as of March 31, 2016 to John D. Johns, the Company's Chairman and Chief Executive Officer at the time, into a lump sum amount. The lump sum amount is allocated to a book entry that will be treated as though it were a pay deferral account under the Company’s deferred compensation plan for officers. Mr. Johns will continue to accrue benefits as though he were accruing benefits under the Nonqualified Excess Pension Plan with respect to this continued service as an employee of the Company after March 31, 2016. The conversion event required the Company to re-measure the Nonqualified Excess Pension Plan as of May 31, 2016 and resulted in the recognition of $2.1 million in settlement expense during the twelve months ended December 31, 2016.
Schedule of estimated future benefit payments under defined benefit pension plan	Estimated future benefit payments under the Qualified Pension Plan and Nonqualified Excess Pension Plan are as follows: Years Qualified Pension Plan Nonqualified Excess Pension Plan (Dollars In Thousands) 2019 $ 19,544 $ 6,788 2020 20,723 5,196 2021 21,153 5,286 2022 22,538 5,583 2023 22,765 4,754 2024 - 2028 120,355 19,586
Schedule of allocation of plan assets by category	Allocation of plan assets of the defined benefit pension plan by category, as of December 31, 2018 are as follows: Asset Category Target Allocation for 2018 2018 Return-Seeking 60 % 61 % Liability-Hedging Fixed Income 40 39 Total 100 % 100 % Allocation of plan assets of the Qualified Pension Plan by category as of December 31, 2017 are as follows: Asset Category Target Allocation for 2017 2017 (1) Cash and cash equivalents 2 % 15 % Equity securities 60 55 Fixed income 38 30 Total 100 % 100 % (1) During 2017, the Company made a $43.5 million contribution to the defined benefit pension plan and allocated the contribution to cash and cash equivalents pending further analysis of its investment strategy. The plan’s investment policy was amended to allow for an actual asset allocation outside of the current target allocation until the investment strategy analysis was complete.
Schedule of fair value of plan assets by category	Plan assets of the Qualified Pension Plan by category as of December 31, 2018 and December 31, 2017, are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Asset Category Cash and cash equivalents $ 1,225 $ 39,897 Equity securities: Collective Russell 3000 equity index fund 70,599 74,511 Fidelity Spartan 500 index fund 46,300 71,632 Northern Trust ACWI ex-US Fund 41,924 — Liability-hedging fixed income: Group Deposit Administration Annuity Contract 78,707 74,886 BlackRock Long Government Credit Bond Index Fund 15,200 — Total investments 253,955 260,926 Employer contribution receivable — — Total $ 253,955 $ 260,926
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy	The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 1,225 $ — $ — $ 1,225 Equity securities 158,823 — — 158,823 Fixed income 15,200 — — 15,200 Group deposit administration annuity contract — — 78,707 78,707 Total investments $ 175,248 $ — $ 78,707 $ 253,955 The following table sets forth by level, within the fair value hierarchy, the Qualified Pension Plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Cash $ 39,897 $ — $ — $ 39,897 Equity securities 146,143 — — 146,143 Group deposit administration annuity contract — — 74,886 74,886 Total investments $ 186,040 $ — $ 74,886 $ 260,926 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2018 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 4,854 $ — $ — $ 4,854 The following table sets forth by level, within the fair value hierarchy, the life insurance plan’s assets at fair value as of December 31, 2017 : Level 1 Level 2 Level 3 Total (Dollars In Thousands) Money market fund $ 5,104 $ — $ — $ 5,104
Reconciliation of the beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) have been used	The following table presents a reconciliation of the beginning and ending balances for the fair value measurements for the year ended December 31, 2018 and for the year ended December 31, 2017, for which the Company has used significant unobservable inputs (Level 3): December 31, 2018 December 31, 2017 (Dollars In Thousands) Balance, beginning of year $ 74,886 $ 71,226 Interest income 3,821 3,660 Transfers from collective short-term investments fund — — Transfers to collective short-term investments fund — — Balance, end of year $ 78,707 $ 74,886
Schedule of Plan's Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input	The following table represents the Plan’s Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input as of December 31, 2018 : Instrument Fair Value Principal Valuation Technique Significant Unobservable Inputs Range of Significant Input Values (Dollars In Thousands) Group deposit administration annuity contract $ 78,707 Contract Value Contract Rate 5.06% - 5.14%
Schedule of accumulated postretirement benefit obligation	The benefit obligation associated with these benefits is as follows: As of December 31, Postretirement Life Insurance Plan 2018 2017 (Dollars In Thousands) Change in Benefit Obligation Benefit obligation, beginning of year $ 10,978 $ 9,634 Service cost 153 122 Interest cost 366 354 Actuarial (gain)/loss (1,045 ) 1,347 Benefits paid (440 ) (479 ) Benefit obligation, end of year $ 10,012 $ 10,978

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Summary of the changes in the accumulated balances for each component of AOCI	The following tables summarize the changes in the accumulated balances for each component of AOCI as of December 31, 2018 , December 31, 2017 , and December 31, 2016. Changes in Accumulated Other Comprehensive Income (Loss) by Component Unrealized Gains and Losses on Investments (2) Accumulated Gain and Loss on Derivatives Minimum Pension Benefits Liability Adjustment Total Accumulated Other Comprehensive Income (Loss) (Dollars In Thousands, Net of Tax) Balance, December 31, 2015 $ (1,247,065 ) $ — $ 5,931 $ (1,241,134 ) Other comprehensive income (loss) before reclassifications 602,211 688 (5,659 ) 597,240 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (2,008 ) — — (2,008 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) (9,460 ) 39 800 (8,621 ) Balance, December 31, 2016 $ (656,322 ) $ 727 $ 1,072 $ (654,523 ) Other comprehensive income (loss) before reclassifications 707,298 (563 ) (15,726 ) 691,009 Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings 391 — — 391 Amounts reclassified from accumulated other comprehensive income (loss) (1) 642 451 501 1,594 Cumulative effect adjustments (26,135 ) 132 228 (25,775 ) Balance, December 31, 2017 $ 25,874 $ 747 $ (13,925 ) $ 12,696 Other comprehensive income (loss) before reclassifications (1,420,499 ) (1,884 ) (3,546 ) (1,425,929 ) Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings (20,751 ) — — (20,751 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 15,651 1,130 1,989 18,770 Cumulative effect adjustments (10,552 ) — — (10,552 ) Balance, December 31, 2018 $ (1,410,277 ) $ (7 ) $ (15,482 ) $ (1,425,766 ) (1) See Reclassification table below for details. (2) As of December 31, 2015, 2016, 2017 and 2018 , net unrealized losses reported in AOCI were offset by $623.0 million , $424.1 million , $(6.3) million and $613.4 million , respectively, due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Summary of the reclassifications amounts out of AOCI	The following tables summarize the reclassifications amounts out of AOCI for the years ended December 31, 2018, 2017, and 2016. Gains/(losses) in net income: Affected Line Item in the Consolidated Statements of Income For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Derivative instruments Benefits and settlement expenses, net of reinsurance ceded (1) $ (1,431 ) $ (694 ) $ (60 ) Tax (expense) benefit 301 243 21 $ (1,130 ) $ (451 ) $ (39 ) Unrealized gains and losses on available-for-sale securities Realized investment gains (losses): All other investments $ 9,912 $ 10,611 $ 32,302 Net impairment losses recognized in earnings (29,724 ) (11,742 ) (17,748 ) Tax (expense) or benefit 4,161 489 (5,094 ) $ (15,651 ) $ (642 ) $ 9,460 Pension benefits liability adjustment Other operating expenses: Amortization of net actuarial gain/(loss) $ (2,518 ) $ (634 ) $ (1,231 ) Tax (expense) or benefit 529 133 431 $ (1,989 ) $ (501 ) $ (800 ) (1) See Note 7, Derivative Financial Instruments for additional information

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of reconciliation of effective income tax rate related to continuing operations	The Company’s effective income tax rate related to continuing operations varied from the maximum federal income tax rate as follows: For The Year Ended December 31, 2018 2017 2016 Statutory federal income tax rate applied to pre-tax income 21.0 % 35.0 % 35.0 % State income taxes 4.9 0.6 0.8 Investment income not subject to tax (2.9 ) (5.0 ) (2.7 ) Prior period adjustments (2.8 ) — — Federal Tax law changes — (183.3 ) — Other 0.9 (1.6 ) 0.7 21.1 % (154.3 )% 33.8 %
Schedule of components of income tax	The components of the Company’s income tax are as follows: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Current income tax expense: Federal $ 87,276 $ 21,853 $ (50,638 ) State 8,285 4,399 3,919 Total current $ 95,561 $ 26,252 $ (46,719 ) Deferred income tax expense: Federal $ (30,629 ) $ (693,860 ) $ 240,127 State 15,725 (3,867 ) 7,560 Total deferred $ (14,904 ) $ (697,727 ) $ 247,687
Schedule of components of the Company's net deferred income tax liability	The components of the Company’s net deferred income tax liability are as follows: As of December 31, 2018 2017 (Dollars In Thousands) Deferred income tax assets: Loss and credit carryforwards $ 46,236 $ 209,401 Deferred compensation 126,398 138,945 Deferred policy acquisition costs 116,044 23,876 Premium on corporate debt 46,154 57,402 Net unrealized loss on investments 374,905 — Other 25,691 28,179 Valuation allowance (5,079 ) (3,951 ) 730,349 453,852 Deferred income tax liabilities: Premium receivables and policy liabilities 408,502 573,469 VOBA and other intangibles 478,526 433,321 Invested assets (other than unrealized gains (losses)) 682,637 672,549 Net unrealized gains on investments — 6,920 1,569,665 1,686,259 Net deferred income tax liability $ (839,316 ) $ (1,232,407 )
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: As of December 31, 2018 2017 2016 (Dollars In Thousands) Balance, beginning of period $ 11,353 $ 9,856 $ 13,138 Additions for tax positions of the current year — 1,857 2,122 Additions for tax positions of prior years — 70 1,318 Reductions of tax positions of prior years: Changes in judgment (4,219 ) (430 ) (975 ) Settlements during the period — — (5,747 ) Lapses of applicable statute of limitations — — — Balance, end of period $ 7,134 $ 11,353 $ 9,856

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	The following table sets forth supplemental cash flow information: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Cash paid / (received) during the year: Interest on debt $ 260,241 $ 253,708 $ 234,928 Income taxes (26,856 ) (14,163 ) 112,886

STATUTORY REPORTING PRACTICES_2

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

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summary of financial information for the Company's segments	The following tables present a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income: For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Revenues Life Marketing $ 1,689,795 $ 1,667,118 $ 1,627,848 Acquisitions 2,027,195 1,569,083 1,676,017 Annuities 545,922 450,306 574,934 Stable Value Products 219,501 190,006 114,580 Asset Protection 310,243 327,573 269,145 Corporate and Other 248,298 214,706 221,423 Total revenues $ 5,040,954 $ 4,418,792 $ 4,483,947 Pre-tax Adjusted Operating Income (Loss) Life Marketing $ (19,376 ) $ 50,778 $ 39,745 Acquisitions 282,715 249,749 260,511 Annuities 167,186 213,080 213,293 Stable Value Products 102,328 105,261 61,294 Asset Protection 29,911 24,356 16,487 Corporate and Other (84,229 ) (136,332 ) (87,961 ) Pre-tax adjusted operating income 478,535 506,892 503,369 Realized gains (losses) on investments and derivatives (95,517 ) (71,835 ) 90,628 Income before income tax 383,018 435,057 593,997 Income tax expense (benefit) 80,657 (671,475 ) 200,968 Net income $ 302,361 $ 1,106,532 $ 393,029 Pre-tax adjusted operating income $ 478,535 $ 506,892 $ 503,369 Adjusted operating income tax (expense) benefit (100,716 ) 646,333 (169,247 ) After-tax adjusted operating income 377,819 1,153,225 334,122 Realized gains (losses) on investments and derivatives (95,517 ) (71,835 ) 90,628 Income tax benefit (expense) on adjustments 20,059 25,142 (31,721 ) Net income $ 302,361 $ 1,106,532 $ 393,029 Realized investment (losses) gains: Derivative financial instruments $ 60,988 $ (305,828 ) $ (40,288 ) All other investments (223,649 ) 121,428 90,659 Net impairment losses recognized in earnings (29,724 ) (11,742 ) (17,748 ) Less: related amortization (1) (11,856 ) (39,480 ) 24,360 Less: VA GLWB economic cost (85,012 ) (84,827 ) (82,365 ) Realized (losses) gains on investments and derivatives $ (95,517 ) $ (71,835 ) $ 90,628 (1) Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses). For The Year Ended December 31, 2018 2017 2016 (Dollars In Thousands) Net investment income Life Marketing $ 551,781 $ 553,999 $ 525,495 Acquisitions 1,108,218 752,520 764,571 Annuities 340,685 321,844 322,608 Stable Value Products 217,778 186,576 107,010 Asset Protection 30,457 27,325 22,082 Corporate and Other 234,831 209,324 200,690 Total net investment income $ 2,483,750 $ 2,051,588 $ 1,942,456 Amortization of DAC and VOBA Life Marketing $ 116,917 $ 120,753 $ 130,708 Acquisitions 18,690 (6,939 ) 8,178 Annuities 24,274 (54,471 ) (11,031 ) Stable Value Products 3,201 2,354 1,176 Asset Protection 62,726 16,524 20,033 Corporate and Other — — — Total amortization of DAC and VOBA $ 225,808 $ 78,221 $ 149,064 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,575,702 $ 31,859,520 $ 20,199,597 $ 5,107,334 DAC and VOBA 1,499,386 458,977 889,697 6,121 Other intangibles 262,758 31,975 156,785 7,389 Goodwill 215,254 23,862 343,247 113,924 Total assets $ 16,553,100 $ 32,374,334 $ 21,589,326 $ 5,234,768 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 1,019,297 $ 12,715,208 $ 85,476,658 DAC and VOBA 168,973 — 3,023,154 Other intangibles 122,590 31,934 613,431 Goodwill 129,224 — 825,511 Total assets $ 1,440,084 $ 12,747,142 $ 89,938,754 Operating Segment Assets (Dollars In Thousands) Life Marketing Acquisitions Annuities Stable Value Products Investments and other assets $ 14,914,418 $ 19,588,133 $ 20,938,409 $ 4,569,639 DAC and VOBA 1,320,776 74,862 772,634 6,864 Other intangibles 282,361 34,548 170,117 8,056 Goodwill 200,274 14,524 336,677 113,813 Total assets $ 16,717,829 $ 19,712,067 $ 22,217,837 $ 4,698,372 Asset Protection Corporate and Other Total Consolidated Investments and other assets $ 918,952 $ 15,043,597 $ 75,973,148 DAC and VOBA 24,441 — 2,199,577 Other intangibles 133,234 35,256 663,572 Goodwill 128,182 — 793,470 Total assets $ 1,204,809 $ 15,078,853 $ 79,629,767

CONSOLIDATED QUARTERLY RESULT_2

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited consolidated quarterly operating data	The Company’s unaudited consolidated quarterly operating data for the years ended December 31, 2018 and 2017 is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management’s opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowner’s equity, and cash flows for a period of several quarters. First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2018 Premiums and policy fees $ 889,166 $ 941,868 $ 878,182 $ 971,629 Reinsurance ceded (345,423 ) (390,941 ) (269,335 ) (379,242 ) Net of reinsurance ceded 543,743 550,927 608,847 592,387 Net investment income 520,863 616,462 672,139 674,286 Realized investment gains (losses) (9,540 ) (37,337 ) (47,334 ) (68,450 ) Net impairment losses recognized in earnings (3,645 ) (5 ) (14 ) (26,060 ) Other income 114,411 113,861 113,530 111,883 Total revenues 1,165,832 1,243,908 1,347,168 1,284,046 Total benefits and expenses 1,074,034 1,145,136 1,210,449 1,228,317 Income before income tax 91,798 98,772 136,719 55,729 Income tax expense 17,686 17,277 26,619 19,075 Net income $ 74,112 $ 81,495 $ 110,100 $ 36,654 First Second Quarter Third Quarter Fourth Quarter (Dollars In Thousands) For The Year Ended December 31, 2017 Premiums and policy fees $ 860,586 $ 868,139 $ 855,088 $ 893,606 Reinsurance ceded (316,076 ) (342,898 ) (325,120 ) (376,641 ) Net of reinsurance ceded 544,510 525,241 529,968 516,965 Net investment income 506,413 507,771 507,914 529,490 Realized investment gains (losses) (47,037 ) (54,471 ) (64,191 ) (18,701 ) Net impairment losses recognized in earnings (7,831 ) (2,785 ) (273 ) (853 ) Other income 109,242 111,311 110,970 115,139 Total revenues 1,105,297 1,087,067 1,084,388 1,142,040 Total benefits and expenses 992,948 961,299 973,538 1,055,950 Income before income tax 112,349 125,768 110,850 86,090 Income tax expense (benefit) 36,935 41,500 28,308 (778,218 ) Net income $ 75,414 $ 84,268 $ 82,542 $ 864,308

BASIS OF PRESENTATION - Narrati

BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Goodwill	$ 825,511	$ 825,511	$ 793,470
Deferred tax liability	839,316	839,316	1,232,407
Deferred income tax expense		(14,904)	$ (697,727)	$ 247,687
Restatement Adjustment | Adjustment Pertaining To Tax Deductibility Following Dai-ichi Acquisition
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Goodwill	32,000	32,000
Deferred tax liability	21,300	$ 21,300
Deferred income tax expense	$ 10,700

SUMMARY OF SIGNIFICANT ACCOUN_4

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

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 581,431	$ 631,572
Total intangible assets	$ 613,431	663,572
Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	3 years
Distribution Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 377,441	402,975
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	78,629	85,340
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	93,433	107,343
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 31,928	35,914
Minimum | Distribution Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	14 years
Minimum | Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	13 years
Minimum | Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	7 years
Maximum | Distribution Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	22 years
Maximum | Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	17 years
Maximum | Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	14 years
Insurance Licenses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 32,000	$ 32,000

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Future Estimated Aggregate Amortization Expense (Details) $ in Thousands	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
2,019	$ 55,299
2,020	52,298
2,021	49,693
2,022	46,435
2,023	$ 45,135

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property and equipment
Total property and equipment, gross	$ 193,236	$ 109,423
Accumulated depreciation	(33,199)	(22,926)
Land	24,920	24,920
Total property and equipment	$ 184,957	111,417
Home office building
Property and equipment
Useful life	25 years
Total property and equipment, gross	$ 144,669	68,123
Furniture
Property and equipment
Useful life	10 years
Office equipment and machines
Property and equipment
Useful life	5 years
Software and computers
Property and equipment
Useful life	4 years
Data processing equipment
Property and equipment
Total property and equipment, gross	$ 28,793	24,102
Other, principally furniture and equipment
Property and equipment
Total property and equipment, gross	$ 19,774	$ 17,198

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stable Value Product Account Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summarized financial information for the company's segments
Stable value product account balances marketed through structured programs	$ 4,083.8	$ 3,337.9
Future maturities of stable value products
2,019	1,253.9
2020 - 2021	3,042.5
2022 - 2023	818.7
Thereafter	$ 118.7
Minimum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	1 year
Maximum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	12 years

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Guaranteed Living Withdrawal Benefits and Income Taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)subsidiary	Dec. 31, 2017USD ($)
Income Taxes
Number of subsidiaries not included in federal tax return | subsidiary	1
Guaranteed minimum withdrawal benefits (GMWB) | VA
Guaranteed Minimum Withdrawal Benefits
Net GMWB liability | $	$ 184.1	$ 111.8

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Future Policy Benefit Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Future policy benefits	$ 41,901,552	$ 30,957,592
Unearned premiums	872,594	875,405
Total policy liabilities and accruals	42,774,146	31,832,997
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Future policy benefits	4,223,069	4,539,062
Unearned premiums	541,674	536,636
Total policy liabilities and accruals and associated reinsurance receivable	4,764,743	5,075,698
Life and Annuity Insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Benefit reserves	40,883,229	29,972,938
Future policy benefits	41,537,306	30,568,126
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Benefit reserves	3,582,850	3,898,079
Future policy benefits	3,966,226	4,260,906
Life insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Unpaid claim liabilities	654,077	595,188
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Unpaid claim liabilities	383,376	362,827
Other Insurance
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Benefit reserves	142,855	157,101
Unpaid claim liabilities	221,391	232,365
Reinsurance Recoverables, Including Reinsurance Premium Paid [Abstract]
Benefit reserves	80,688	92,330
Unpaid claim liabilities	$ 176,155	$ 185,826

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Traditional Life, Health, and Credit Insurance Products (Details)	Dec. 31, 2018
Minimum
Liability for unpaid claims and claims adjustment expense
Reserve investment yield assumptions	1.00%
Minimum | Traditional Life Insurance
Liability for unpaid claims and claims adjustment expense
Reserve investment yield assumptions	2.00%
Maximum
Liability for unpaid claims and claims adjustment expense
Reserve investment yield assumptions	7.10%
Maximum | Traditional Life Insurance
Liability for unpaid claims and claims adjustment expense
Reserve investment yield assumptions	5.50%

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Universal Life and Investment Products (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Universal Life | Minimum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate credited to policy account balances	1.00%
Universal Life | Maximum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate credited to policy account balances	8.75%
Investments Product Line | Minimum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate credited to policy account balances	0.19%
Investments Product Line | Maximum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate credited to policy account balances	11.25%
Annuity account | Guaranteed minimum death benefits (GMDB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed benefit liability	$ 44,321	$ 34,083	$ 34,796	$ 36,427

SUMMARY OF SIGINIFICANT ACCOUNT

SUMMARY OF SIGINIFICANT ACCOUNTING POLICIES - Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,639,441				$ 1,560,444				$ 1,639,441	$ 1,560,444
Cumulative effect adjustments													$ (93,916)
Statement of Financial Position [Abstract]
Deferred policy acquisition costs and value of business acquired	3,023,154				2,199,577				3,023,154	2,199,577	$ 2,019,829
Other liabilities	2,374,112				2,353,565				2,374,112	2,353,565
Income Statement [Abstract]
Other income	111,883	$ 113,530	$ 113,861	$ 114,411	$ 115,139	$ 110,970	$ 111,311	$ 109,242	453,685	446,662	415,653
Amortization of deferred policy acquisition costs and value of business acquired									225,808	78,221	149,064
Other operating expenses, net of reinsurance ceded									916,259	$ 948,244	$ 860,451
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													(83,364)
Retained Earnings | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													(93,900)
Retained Earnings | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments													10,600
Previous Accounting Method | Accounting Standards Update 2014-09
Statement of Financial Position [Abstract]
Deferred policy acquisition costs and value of business acquired	2,881,600								2,881,600
Other liabilities	$ 2,110,500								2,110,500
Income Statement [Abstract]
Other income									454,400
Amortization of deferred policy acquisition costs and value of business acquired									177,000
Other operating expenses, net of reinsurance ceded									$ 968,100
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings													$ (93,900)
Scenario, Forecast | Accounting Standards Update 2016-02
Income Statement [Abstract]
Right-of-use asset												$ 21,500
Lease liability												21,500
Subsequent Event | Retained Earnings | Accounting Standards Update 2017-08
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustments												$ (51,200)

SIGNIFICANT TRANSACTIONS - Narr

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

SIGNIFICANT TRANSACTIONS - Purc

SIGNIFICANT TRANSACTIONS - Purchase Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	May 01, 2018
Life Business
Pro forma condensed consolidated results of operations
Revenue	$ 5,364,693	$ 5,654,257
Net income	$ 348,505	$ 1,233,991
PLICO
Assets
Fixed maturities			$ 12,588,512
Mortgage loans			435,405
Policy loans			131,489
Total investments			13,155,406
Cash			38,456
Accrued investment income			152,030
Reinsurance receivables			272
Value of business acquired			336,862
Other assets			916
Total assets			13,683,942
Liabilities
Future policy benefits and claims			11,747,501
Unearned premiums			0
Total policy liabilities and accruals			11,747,501
Annuity account balances			1,823,444
Other policyholders’ funds			41,936
Other liabilities			71,061
Total liabilities			13,683,942
Net assets acquired			$ 0

MONY CLOSED BLOCK OF BUSINESS -

MONY CLOSED BLOCK OF BUSINESS - Summary of Financial Information for the Closed Block (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$ 5,679,732	$ 5,791,867
Policyholder dividend obligation	0	160,712	$ 31,932
Other liabilities	22,505	30,764
Total closed block liabilities	5,702,237	5,983,343
Closed block assets
Fixed maturities, available-for-sale, at fair value	4,257,437	4,669,856
Mortgage loans on real estate	75,838	108,934
Policy loans	672,213	700,769
Cash and other invested assets	116,225	31,182
Other assets	136,388	122,637
Total closed block assets	5,258,101	5,633,378
Excess of reported closed block liabilities over closed block assets	444,136	349,965
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of policyholder dividend obligation: $(141,128) and $(13,429); and net of income tax: $61,676 and $2,820	(120,528)	0
Future earnings to be recognized from closed block assets and closed block liabilities	323,608	349,965
Policyholder dividend obligations	(141,128)	(13,429)
Policyholder dividend obligation, deferred income tax	$ 61,676	$ 2,820

MONY CLOSED BLOCK OF BUSINESS_2

MONY CLOSED BLOCK OF BUSINESS - Schedule of Reconciliation of the Policyholder Dividend Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Movement in Closed Block Dividend Obligation [Roll Forward]
Policyholder dividend obligation, beginning balance	$ 160,712	$ 31,932
Applicable to net revenue (losses)	(33,014)	(55,241)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	(127,698)	184,021
Policyholder dividend obligation, ending balance	$ 0	$ 160,712

MONY CLOSED BLOCK OF BUSINESS_3

MONY CLOSED BLOCK OF BUSINESS - Schedule of Closed Block Revenues and Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Premiums and other income	$ 171,117	$ 180,097	$ 189,700
Net investment income	202,282	203,964	211,175
Net investment gains	(1,970)	910	1,524
Total revenues	371,429	384,971	402,399
Benefits and other deductions
Benefits and settlement expenses	337,352	335,200	353,488
Other operating expenses	714	1,940	2,804
Total benefits and other deductions	338,066	337,140	356,292
Net revenues before income taxes	33,363	47,831	46,107
Income tax expense	7,006	27,718	16,137
Net revenues	$ 26,357	$ 20,113	$ 29,970

INVESTMENT OPERATIONS - Summary

INVESTMENT OPERATIONS - Summary of Major Categories of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investment [Line Items]
Investment income before other investment expenses									$ 2,513,756	$ 2,080,715	$ 1,971,567
Investment expenses									30,006	29,127	29,111
Net investment income	$ 674,286	$ 672,139	$ 616,462	$ 520,863	$ 529,490	$ 507,914	$ 507,771	$ 506,413	2,483,750	2,051,588	1,942,456
Fixed maturities
Investment [Line Items]
Investment income before other investment expenses									2,051,505	1,631,565	1,552,999
Equity securities
Investment [Line Items]
Investment income before other investment expenses									35,299	39,806	38,838
Mortgage loans
Investment [Line Items]
Investment income before other investment expenses									322,207	298,387	270,749
Investment real estate
Investment [Line Items]
Investment income before other investment expenses									1,888	2,481	2,153
Short-term investments
Investment [Line Items]
Investment income before other investment expenses									$ 102,857	$ 108,476	$ 106,828

INVESTMENT OPERATIONS - Summa_2

INVESTMENT OPERATIONS - Summary of Net Realized Investment Gains (Losses) for all Other Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Fixed maturities	$ 9,912	$ 12,941	$ 32,210
Equity gains and losses	(48,964)	(2,330)	92
Impairments	(29,724)	(11,742)	(17,748)
Modco trading portfolio	(185,900)	119,206	67,583
Other investments	1,303	(8,389)	(9,226)
Total realized gains (losses) - investments	$ (253,373)	$ 109,686	$ 72,911

INVESTMENT OPERATIONS - Schedul

INVESTMENT OPERATIONS - Schedule of Gross Realized Gains (Losses) on Investments Available-for-Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 28,095	$ 18,868	$ 42,085
Gross realized losses:
Impairments losses	29,724	11,742	17,748
Other realized losses	$ (18,183)	$ (8,257)	$ (9,783)

INVESTMENT OPERATIONS - Sched_2

INVESTMENT OPERATIONS - Schedule of Fair Value (Proceeds) and Gains/Losses Realized on Securities Sold in an Unrealized Gain/Loss Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Securities in an unrealized gain position:
Fair value (proceeds)	$ 1,300,866	$ 879,181	$ 1,198,333
Gains realized	28,095	18,868	42,085
Securities in an unrealized loss position
Fair value (proceeds)	472,371	185,157	85,835
Losses realized	$ (18,183)	$ (8,257)	$ (9,783)

INVESTMENT OPERATIONS - Sched_3

INVESTMENT OPERATIONS - Schedule of Realized Gain (Losses) on Equity Securities Sold (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Net gains (losses) recognized during the period on equity securities	$ (48,964)	$ (2,330)	$ 92
Less: net gains (losses) recognized on equity securities sold during the period	(6,165)
Gains (losses) recognized during the period on equity securities still held	$ (42,799)

INVESTMENT OPERATIONS - Sched_4

INVESTMENT OPERATIONS - Schedule of Amortized Cost and Fair Value of the Company's Investments Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 52,826,470	$ 39,783,880
Gross Unrealized Gains	189,175	718,229
Gross Unrealized Losses	(2,750,781)	(682,181)
Fair Value	50,264,864	39,819,928
Total OTTI Recognized in OCI	(28,827)	(2,560)
Residential mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	3,650,539	2,330,832
Gross Unrealized Gains	23,247	19,413
Gross Unrealized Losses	(62,196)	(23,033)
Fair Value	3,611,590	2,327,212
Total OTTI Recognized in OCI	(18)	41
Commercial mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	2,349,274	1,914,998
Gross Unrealized Gains	3,911	5,010
Gross Unrealized Losses	(58,101)	(30,186)
Fair Value	2,295,084	1,889,822
Total OTTI Recognized in OCI	0	0
Other asset-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	1,410,059	1,234,376
Gross Unrealized Gains	17,232	20,936
Gross Unrealized Losses	(35,398)	(5,763)
Fair Value	1,391,893	1,249,549
Total OTTI Recognized in OCI	0	0
U.S. government-related securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	1,683,432	1,255,244
Gross Unrealized Gains	1,795	185
Gross Unrealized Losses	(45,722)	(32,177)
Fair Value	1,639,505	1,223,252
Total OTTI Recognized in OCI	0	0
Other government-related securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	545,522	282,767
Gross Unrealized Gains	4,292	9,463
Gross Unrealized Losses	(33,850)	(4,948)
Fair Value	515,964	287,282
Total OTTI Recognized in OCI	0	0
States, municipals, and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	3,682,037	1,770,299
Gross Unrealized Gains	25,706	16,959
Gross Unrealized Losses	(118,902)	(45,613)
Fair Value	3,588,841	1,741,645
Total OTTI Recognized in OCI	876	(37)
Corporate securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	38,634,888	29,606,484
Gross Unrealized Gains	112,992	623,713
Gross Unrealized Losses	(2,385,052)	(528,187)
Fair Value	36,362,828	29,702,010
Total OTTI Recognized in OCI	(29,685)	(2,564)
Redeemable preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	94,362	94,362
Gross Unrealized Gains	0	232
Gross Unrealized Losses	(11,560)	(3,503)
Fair Value	82,802	91,091
Total OTTI Recognized in OCI	0	0
Fixed maturities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	52,050,113	38,489,362
Gross Unrealized Gains	189,175	695,911
Gross Unrealized Losses	(2,750,781)	(673,410)
Fair Value	49,488,507	38,511,863
Total OTTI Recognized in OCI	(28,827)	(2,560)
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost		735,569
Gross Unrealized Gains		22,318
Gross Unrealized Losses		(8,771)
Fair Value		749,116
Total OTTI Recognized in OCI		0
Short-term investments
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	776,357	558,949
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	776,357	558,949
Total OTTI Recognized in OCI	$ 0	$ 0

INVESTMENT OPERATIONS - Sched_5

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

INVESTMENT OPERATIONS - Sched_6

INVESTMENT OPERATIONS - Schedule of Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Fixed Maturities, by Expected Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale, Amortized Cost
Amortized Cost	$ 52,826,470	$ 39,783,880
Available-for-sale Fair Value
Total	50,264,864	39,819,928
Held-to-maturity Securities, Fair Value
Fair Value	2,547,210	2,776,327
Fixed maturities
Available-for-sale, Amortized Cost
Due in one year or less	1,146,730
Due after one year through five years	9,272,731
Due after five years through ten years	9,200,724
Due after ten years	32,429,928
Amortized Cost	52,050,113
Available-for-sale Fair Value
Due in one year or less	1,142,140
Due after one year through five years	9,120,056
Due after five years through ten years	8,947,546
Due after ten years	30,278,765
Total	49,488,507
Held-to-maturity Securities, Amortized Cost
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	2,633,474
Amortized Cost	2,633,474	2,718,904
Held-to-maturity Securities, Fair Value
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	2,547,210
Fair Value	$ 2,547,210	$ 2,776,327

INVESTMENT OPERATIONS - Sched_7

INVESTMENT OPERATIONS - Schedule of Other-than-Temporary Impairments of Investments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investment [Line Items]
Other-than-temporary impairment losses									$ (56,578)	$ (3,962)	$ (32,075)
Non-credit impairment losses recorded in other comprehensive income									26,854	(7,780)	14,327
Net impairment losses recognized in earnings	$ (26,060)	$ (14)	$ (5)	$ (3,645)	$ (853)	$ (273)	$ (2,785)	$ (7,831)	(29,724)	(11,742)	(17,748)
Fixed maturities
Investment [Line Items]
Other-than-temporary impairment losses									(56,578)	(1,332)	(32,075)
Non-credit impairment losses recorded in other comprehensive income									26,854	(7,780)	14,327
Net impairment losses recognized in earnings									(29,724)	(9,112)	(17,748)
Equity securities
Investment [Line Items]
Other-than-temporary impairment losses									0	(2,630)	0
Non-credit impairment losses recorded in other comprehensive income									0	0	0
Net impairment losses recognized in earnings									$ 0	$ (2,630)	$ 0

INVESTMENT OPERATIONS - Sched_8

INVESTMENT OPERATIONS - Schedule of Available-for-Sale Credit Losses on Fixed Maturities Held by the Company for Which a Portion of Other-than-Temporary Impairments were Recognized in Other Comprehensive Income (Details) - Fixed maturities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Credit losses on fixed maturities
Beginning balance	$ 3,268	$ 12,685	$ 22,761
Additions for newly impaired securities	24,858	734	14,876
Additions for previously impaired securities	12	3,175	2,063
Reductions for previously impaired securities due to a change in expected cash flows	0	(12,726)	(24,396)
Reductions for previously impaired securities that were sold in the current period	(3,270)	(600)	(2,619)
Other	0	0	0
Ending balance	$ 24,868	$ 3,268	$ 12,685

INVESTMENT OPERATIONS - Sched_9

INVESTMENT OPERATIONS - Schedule of Investments' Gross Unrealized Losses and Fair Value of the Company's Investments that are Not Deemed to be Other-than-Temporarily Impaired (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value
Less Than 12 Months	$ 22,322,949	$ 7,062,734
12 Months or More	17,630,381	14,639,347
Total	39,953,330	21,702,081
Unrealized Loss
Less Than 12 Months	(1,091,842)	(79,496)
12 Months or More	(1,658,939)	(602,685)
Total	(2,750,781)	(682,181)
Residential mortgage-backed securities
Fair Value
Less Than 12 Months	1,485,009	766,599
12 Months or More	804,364	416,221
Total	2,289,373	1,182,820
Unrealized Loss
Less Than 12 Months	(31,302)	(9,671)
12 Months or More	(30,894)	(13,362)
Total	(62,196)	(23,033)
Commercial mortgage-backed securities
Fair Value
Less Than 12 Months	422,438	757,471
12 Months or More	1,429,384	796,456
Total	1,851,822	1,553,927
Unrealized Loss
Less Than 12 Months	(7,442)	(8,592)
12 Months or More	(50,659)	(21,594)
Total	(58,101)	(30,186)
Other asset-backed securities
Fair Value
Less Than 12 Months	687,271	86,506
12 Months or More	148,871	134,316
Total	836,142	220,822
Unrealized Loss
Less Than 12 Months	(30,963)	(322)
12 Months or More	(4,435)	(5,441)
Total	(35,398)	(5,763)
U.S. government-related securities
Fair Value
Less Than 12 Months	130,290	94,110
12 Months or More	1,085,654	1,072,232
Total	1,215,944	1,166,342
Unrealized Loss
Less Than 12 Months	(4,668)	(688)
12 Months or More	(41,054)	(31,489)
Total	(45,722)	(32,177)
Other government-related securities
Fair Value
Less Than 12 Months	226,201	24,830
12 Months or More	131,569	115,294
Total	357,770	140,124
Unrealized Loss
Less Than 12 Months	(15,267)	(169)
12 Months or More	(18,583)	(4,778)
Total	(33,850)	(4,947)
States, municipals, and political subdivisions
Fair Value
Less Than 12 Months	1,004,262	170,268
12 Months or More	1,129,152	1,027,747
Total	2,133,414	1,198,015
Unrealized Loss
Less Than 12 Months	(27,180)	(1,738)
12 Months or More	(91,722)	(43,874)
Total	(118,902)	(45,612)
Corporate securities
Fair Value
Less Than 12 Months	18,326,331	5,054,316
12 Months or More	12,859,732	10,962,689
Total	31,186,063	16,017,005
Unrealized Loss
Less Than 12 Months	(970,553)	(55,795)
12 Months or More	(1,414,499)	(472,394)
Total	(2,385,052)	(528,189)
Redeemable preferred stock
Fair Value
Less Than 12 Months	41,147	22,048
12 Months or More	41,655	23,197
Total	82,802	45,245
Unrealized Loss
Less Than 12 Months	(4,467)	(1,120)
12 Months or More	(7,093)	(2,383)
Total	$ (11,560)	(3,503)
Equity securities
Fair Value
Less Than 12 Months		86,586
12 Months or More		91,195
Total		177,781
Unrealized Loss
Less Than 12 Months		(1,401)
12 Months or More		(7,370)
Total		$ (8,771)

INVESTMENT OPERATIONS - Summa_3

INVESTMENT OPERATIONS - Summary of Change in Unrealized Gains (Losses), Net of Income Tax, on Fixed Maturity and Equity Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fixed maturities
Investment [Line Items]
Change in unrealized gains (losses) net of income tax	$ (2,041,445)	$ 1,086,727	$ 802,368

INVESTMENT OPERATIONS - Additio

INVESTMENT OPERATIONS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018USD ($)subsidiaryposition	Dec. 31, 2017USD ($)subsidiary
Variable Interest Entities
Gross unrealized losses, 12 Months or More	$ 1,658,939,000	$ 602,685,000
Number of positions in unrealized loss position | position	4,005
Fixed maturity securities—available-for-sale	$ 50,264,864,000	39,819,928,000
Available-for-sale securities, amortized cost	52,826,470,000	39,783,880,000
Fixed maturity securities—trading	2,457,010,000	2,725,694,000
Held-to-maturity securities, unrecognized holding gain	86,300,000
Non-income producing securities	140,500,000
Policy loans	$ 1,695,886,000	$ 1,615,615,000
Interest rate on collateral loans on life insurance policies	13.64%
Number of wholly owned subsidiaries that were determined to be VIEs | subsidiary	2
Red Mountain LLC
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs | subsidiary		2
Ownership through an affiliate (as a percent)	100.00%
Risk of loss related to the VIE limited to the entity's investment	$ 10,000
Payments made	$ 0
Steel City LLC
Variable Interest Entities
Ownership through an affiliate (as a percent)	100.00%
Risk of loss related to the VIE limited to the entity's investment	$ 10,000
Payments made	0
Fixed maturities
Variable Interest Entities
Fixed maturity securities—available-for-sale	49,488,507,000
Available-for-sale securities, amortized cost	52,050,113,000
Fixed maturity securities—trading	2,416,192,000	$ 2,664,189,000
Held-to-maturity securities, accumulated unrecognized holding gain	0	76,586,000
Held-to-maturity securities, accumulated unrecognized holding loss	86,264,000	19,163,000
Equity securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More		7,370,000
Fixed maturity securities—trading	9,892,000	5,244,000
Short-term investments
Variable Interest Entities
Fixed maturity securities—trading	30,926,000	56,261,000
Residential mortgage-backed securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	30,894,000	13,362,000
Fixed maturity securities—trading	241,836,000	259,694,000
Commercial mortgage-backed securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	50,659,000	21,594,000
Fixed maturity securities—trading	188,925,000	146,804,000
Other asset-backed securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	$ 4,435,000	$ 5,441,000
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program (at least)	97.00%	97.00%
Fixed maturity securities—trading	$ 159,907,000	$ 138,097,000
U.S. government-related securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	41,054,000	31,489,000
Fixed maturity securities—trading	59,794,000	27,234,000
Other government-related securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	18,583,000	4,778,000
Fixed maturity securities—trading	44,207,000	63,925,000
States, municipals, and political subdivisions
Variable Interest Entities
Gross unrealized losses, 12 Months or More	91,722,000	43,874,000
Fixed maturity securities—trading	286,413,000	326,925,000
Corporate securities
Variable Interest Entities
Gross unrealized losses, 12 Months or More	1,414,499,000	472,394,000
Fixed maturity securities—trading	1,423,833,000	$ 1,698,183,000
Below investment grade
Variable Interest Entities
Fixed maturity securities—available-for-sale	1,600,000,000
Available-for-sale securities, amortized cost	1,800,000,000
Fixed maturity securities—trading	144,300,000
Securities not publicly traded	$ 262,800,000
Minimum
Variable Interest Entities
Interest rate on standard policy loans	3.00%
Maximum
Variable Interest Entities
Interest rate on standard policy loans	8.00%

INVESTMENT OPERATIONS - Sche_10

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

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Fixed maturity securities—available-for-sale	$ 50,264,864	$ 39,819,928
Fixed maturity securities—trading	2,457,010	2,725,694
Total fixed maturity securities	51,904,699	41,176,052
Equity securities	595,884	754,360
Other long-term investments	375,829	605,075
Short-term investments	807,283	615,210
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Fixed maturities
Assets:
Fixed maturity securities—available-for-sale	49,488,507
Fixed maturity securities—trading	2,416,192	2,664,189
Residential mortgage-backed securities
Assets:
Fixed maturity securities—trading	241,836	259,694
Commercial mortgage-backed securities
Assets:
Fixed maturity securities—trading	188,925	146,804
Other asset-backed securities
Assets:
Fixed maturity securities—trading	159,907	138,097
States, municipals, and political subdivisions
Assets:
Fixed maturity securities—trading	286,413	326,925
Other government-related securities
Assets:
Fixed maturity securities—trading	44,207	63,925
Corporate securities
Assets:
Fixed maturity securities—trading	1,423,833	1,698,183
Level 3 | Other asset-backed securities
Assets:
Total investments	421,458	504,228
Level 3 | Corporate securities
Assets:
Total investments	631,068	617,770
Measured at fair value on a recurring basis
Assets:
Total fixed maturity securities	51,904,699	41,176,052
Equity securities	595,884	754,360
Other long-term investments	375,829	605,075
Short-term investments	807,283	615,210
Total investments	53,683,695	43,150,697
Cash	173,714	252,310
Other assets	29,257	28,771
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets measured at fair value on a recurring basis	67,113,317	58,423,051
Liabilities:
Annuity account balances	76,119	83,472
Other liabilities	755,461	1,007,572
Total liabilities measured at fair value on a recurring basis	831,580	1,091,044
Measured at fair value on a recurring basis | Fixed maturities
Assets:
Fixed maturity securities—available-for-sale	49,488,507	38,511,863
Fixed maturity securities—trading	2,416,192	2,664,189
Measured at fair value on a recurring basis | Residential mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	3,611,590	2,327,212
Fixed maturity securities—trading	241,836	259,694
Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	2,295,084	1,889,822
Fixed maturity securities—trading	188,925	146,804
Measured at fair value on a recurring basis | Other asset-backed securities
Assets:
Fixed maturity securities—available-for-sale	1,391,893	1,249,549
Fixed maturity securities—trading	159,907	138,097
Measured at fair value on a recurring basis | U.S. government-related securities
Assets:
Fixed maturity securities—available-for-sale	1,639,505	1,223,252
Fixed maturity securities—trading	59,794	27,234
Measured at fair value on a recurring basis | States, municipals, and political subdivisions
Assets:
Fixed maturity securities—available-for-sale	3,588,841	1,741,645
Fixed maturity securities—trading	286,413	326,925
Measured at fair value on a recurring basis | Other government-related securities
Assets:
Fixed maturity securities—available-for-sale	515,964	287,282
Fixed maturity securities—trading	44,207	63,925
Measured at fair value on a recurring basis | Corporate securities
Assets:
Fixed maturity securities—available-for-sale	36,362,828	29,702,010
Fixed maturity securities—trading	1,423,833	1,698,183
Measured at fair value on a recurring basis | Redeemable preferred stock
Assets:
Fixed maturity securities—available-for-sale	82,802	91,091
Fixed maturity securities—trading	11,277	3,327
Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities	1,114,751	1,055,756
Equity securities	531,523	688,214
Other long-term investments	83,047	51,102
Short-term investments	730,067	482,461
Total investments	2,459,388	2,277,533
Cash	173,714	252,310
Other assets	29,257	28,771
Assets related to separate accounts
Variable annuity	12,288,919	13,956,071
Variable universal life	937,732	1,035,202
Total assets measured at fair value on a recurring basis	15,889,010	17,549,887
Liabilities:
Annuity account balances	0	0
Other liabilities	56,018	5,755
Total liabilities measured at fair value on a recurring basis	56,018	5,755
Measured at fair value on a recurring basis | Level 1 | Fixed maturities
Assets:
Fixed maturity securities—available-for-sale	1,076,021	1,031,246
Fixed maturity securities—trading	38,730	24,510
Measured at fair value on a recurring basis | Level 1 | Residential mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | Other asset-backed securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Fixed maturity securities—available-for-sale	1,010,485	958,775
Fixed maturity securities—trading	27,453	21,183
Measured at fair value on a recurring basis | Level 1 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | Other government-related securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | Corporate securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 1 | Redeemable preferred stock
Assets:
Fixed maturity securities—available-for-sale	65,536	72,471
Fixed maturity securities—trading	11,277	3,327
Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities	49,697,732	38,948,366
Equity securities	36	36
Other long-term investments	180,438	417,969
Short-term investments	77,216	132,749
Total investments	49,955,422	39,499,120
Cash	0	0
Other assets	0	0
Assets related to separate accounts
Variable annuity	0	0
Variable universal life	0	0
Total assets measured at fair value on a recurring basis	49,955,422	39,499,120
Liabilities:
Annuity account balances	0	0
Other liabilities	69,501	240,927
Total liabilities measured at fair value on a recurring basis	69,501	240,927
Measured at fair value on a recurring basis | Level 2 | Fixed maturities
Assets:
Fixed maturity securities—available-for-sale	47,352,568	36,349,351
Fixed maturity securities—trading	2,345,164	2,599,015
Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	3,611,590	2,327,212
Fixed maturity securities—trading	241,836	259,694
Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	2,295,084	1,889,822
Fixed maturity securities—trading	188,925	146,804
Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Fixed maturity securities—available-for-sale	970,251	745,184
Fixed maturity securities—trading	133,851	102,875
Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Fixed maturity securities—available-for-sale	629,020	264,477
Fixed maturity securities—trading	32,341	6,051
Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities—available-for-sale	3,588,841	1,741,645
Fixed maturity securities—trading	286,413	326,925
Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Fixed maturity securities—available-for-sale	515,964	287,282
Fixed maturity securities—trading	44,207	63,925
Measured at fair value on a recurring basis | Level 2 | Corporate securities
Assets:
Fixed maturity securities—available-for-sale	35,724,552	29,075,109
Fixed maturity securities—trading	1,417,591	1,692,741
Measured at fair value on a recurring basis | Level 2 | Redeemable preferred stock
Assets:
Fixed maturity securities—available-for-sale	17,266	18,620
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities	1,092,216	1,171,930
Equity securities	64,325	66,110
Other long-term investments	112,344	136,004
Short-term investments	0	0
Total investments	1,268,885	1,374,044
Cash	0	0
Other assets	0	0
Assets related to separate accounts
Variable annuity	0	0
Variable universal life	0	0
Total assets measured at fair value on a recurring basis	1,268,885	1,374,044
Liabilities:
Annuity account balances	76,119	83,472
Other liabilities	629,942	760,890
Total liabilities measured at fair value on a recurring basis	706,061	844,362
Measured at fair value on a recurring basis | Level 3 | Fixed maturities
Assets:
Fixed maturity securities—available-for-sale	1,059,918	1,131,266
Fixed maturity securities—trading	32,298	40,664
Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3 | Commercial mortgage-backed securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Fixed maturity securities—available-for-sale	421,642	504,365
Fixed maturity securities—trading	26,056	35,222
Measured at fair value on a recurring basis | Level 3 | U.S. government-related securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3 | Other government-related securities
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	0	0
Measured at fair value on a recurring basis | Level 3 | Corporate securities
Assets:
Fixed maturity securities—available-for-sale	638,276	626,901
Fixed maturity securities—trading	6,242	5,442
Measured at fair value on a recurring basis | Level 3 | Redeemable preferred stock
Assets:
Fixed maturity securities—available-for-sale	0	0
Fixed maturity securities—trading	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Determination of Fair Values Additional Information (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)primary_source	Dec. 31, 2018USD ($)quote	Dec. 31, 2018USD ($)input_method	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Determination of fair values
Number of primary sources of information used for determining fair value | primary_source				1
Total number of primary sources of information available for determining fair value				3		3
Minimum percentage of the Company's fixed maturity securities priced by third party pricing services		93.60%
Number of independent non-binding broker quotes obtained per security | quote					1
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations		100.00%
Transfers into Level 3			$ 39,700,000				$ 0
Transfers from Level 3 to Level 2			85,700,000				28,900,000
Transfers from Level 2 to Level 1	$ 0	$ 0	0	$ 0	$ 0	$ 0	0
Transfers from Level 1 to Level 2	0	0	0	0	0	0	0
Level 3
Determination of fair values
Annuity account balances	706,061,000	706,061,000	706,061,000	706,061,000	706,061,000	706,061,000	844,362,000	$ 659,459,000
Financial instruments that are valued using broker quotes	40,400,000	40,400,000	40,400,000	40,400,000	40,400,000	40,400,000	50,400,000
Financial instruments with book value approximating fair value	63,600,000	63,600,000	63,600,000	63,600,000	63,600,000	63,600,000	$ 65,700,000
Asset-backed securities | Level 2
Determination of fair values
Fair value	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000	7,400,000,000
Asset-backed securities | Level 3
Determination of fair values
Fair value	447,700,000	$ 447,700,000	447,700,000	447,700,000	447,700,000	447,700,000
Other asset-backed securities
Determination of fair values
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program (at least)		97.00%					97.00%
Other asset-backed securities | Level 3
Determination of fair values
Fair value	421,458,000	$ 421,458,000	421,458,000	421,458,000	421,458,000	421,458,000	$ 504,228,000
Financial instruments that are valued using broker quotes	26,200,000	26,200,000	26,200,000	26,200,000	26,200,000	26,200,000	35,400,000
Other asset-backed securities | Level 3 | Available-for-sale securities
Determination of fair values
Fair value	421,600,000	$ 421,600,000	421,600,000	421,600,000	421,600,000	421,600,000
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program (at least)		97.00%
Other asset-backed securities | Level 3 | Trading securities
Determination of fair values
Fair value	26,100,000	$ 26,100,000	26,100,000	26,100,000	26,100,000	26,100,000
Corporate Bonds and Securities | Level 2
Determination of fair values
Fair value	42,300,000,000	42,300,000,000	42,300,000,000	42,300,000,000	42,300,000,000	42,300,000,000
Corporate Bonds and Securities | Level 3
Determination of fair values
Fair value	644,500,000	644,500,000	644,500,000	644,500,000	644,500,000	644,500,000
Corporate securities | Level 3
Determination of fair values
Fair value	631,068,000	631,068,000	631,068,000	631,068,000	631,068,000	631,068,000	617,770,000
Financial instruments that are valued using broker quotes	13,500,000	13,500,000	13,500,000	13,500,000	13,500,000	13,500,000	14,600,000
Equity securities | Level 2 and Level 3
Determination of fair values
Fair value	64,400,000	64,400,000	64,400,000	64,400,000	64,400,000	64,400,000
Federal home loan bank stock	63,400,000	63,400,000	63,400,000	63,400,000	63,400,000	63,400,000
Equity securities | Level 3
Determination of fair values
Financial instruments that are valued using broker quotes	$ 700,000	$ 700,000	700,000	700,000	700,000	700,000	400,000
Embedded derivative - GLWB
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative - GLWB | Minimum
Determination of fair values
Mortality (as a percent)		87.00%
Embedded derivative - GLWB | Maximum
Determination of fair values
Mortality (as a percent)		100.00%
Embedded derivative - GLWB | Level 3
Determination of fair values
Fair value							111,760,000
Embedded derivative—FIA
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative—FIA | Level 3 | Actuarial cash flow model | Minimum
Determination of fair values
Mortality (as a percent)		87.00%
Embedded derivative—FIA | Level 3 | Actuarial cash flow model | Maximum
Determination of fair values
Mortality (as a percent)		100.00%
Embedded derivative—IUL
Determination of fair values
Discount rate curve, base rate	LIBOR
Embedded derivative—IUL | Level 3 | Actuarial cash flow model | Minimum
Determination of fair values
Mortality (as a percent)		37.00%
Embedded derivative—IUL | Level 3 | Actuarial cash flow model | Maximum
Determination of fair values
Mortality (as a percent)		577.00%
Embedded derivative - MCA
Determination of fair values
Fair value, liabilities	$ 2,300,000,000	$ 2,300,000,000	2,300,000,000	2,300,000,000	2,300,000,000	2,300,000,000
Embedded derivative - MCA | Trading securities
Determination of fair values
Fair value	25,800,000	25,800,000	25,800,000	25,800,000	25,800,000	25,800,000
VA | Level 3
Determination of fair values
Annuity account balances	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 76,119,000	$ 83,472,000	$ 87,616,000

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation of Level 3 Financial Instruments (Details)	12 Months Ended
	Dec. 31, 2018USD ($)usd_per_policy	Dec. 31, 2017USD ($)usd_per_policy
Liabilities
Fair value	$ 755,461,000	$ 1,007,572,000
Other asset-backed securities | Level 3
Assets
Fair value	421,458,000	504,228,000
Corporate securities | Level 3
Assets
Fair value	631,068,000	617,770,000
Embedded derivative - GLWB | Level 3
Assets
Fair value		111,760,000
Liabilities
Fair value	184,071,000
Embedded derivative—FIA | Level 3
Liabilities
Fair value	217,288,000	218,676,000
Embedded derivative—IUL | Level 3
Liabilities
Fair value	$ 90,231,000	$ 80,212,000
Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	1	146
Minimum | Discounted Cash Flow | Corporate securities | Level 3
Liabilities
Debt securities, measurement input	0.0084	0.0081
Maximum | Discounted Cash Flow | Corporate securities | Level 3
Liabilities
Debt securities, measurement input	0.0300	0.0395
Weighted Average | Discounted Cash Flow | Corporate securities | Level 3
Liabilities
Debt securities, measurement input	0.0184	0.0106
Liquidation value | Minimum | Liquidation technique | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input, value	$ 85.75	$ 90
Liquidation value | Maximum | Liquidation technique | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input, value	99.99	97
Liquidation value | Weighted Average | Liquidation technique | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input, value	$ 95.36	$ 94.91
Liquidity premium | Minimum | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.0002	0.0006
Liquidity premium | Maximum | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.0125	0.0117
Liquidity premium | Weighted Average | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.0064	0.0075
Paydown rate | Minimum | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.1096	0.1131
Paydown rate | Maximum | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.1311	0.1197
Paydown rate | Weighted Average | Discounted Cash Flow | Other asset-backed securities | Level 3
Liabilities
Debt securities, measurement input	0.1203	0.1154
Mortality | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	1
Mortality | Minimum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Liabilities
Embedded derivative liability, measurement input	0.87	0.911
Mortality | Minimum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	0.37	0.34
Mortality | Maximum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Liabilities
Embedded derivative liability, measurement input	1	1.066
Mortality | Maximum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	5.77	1.52
Utilization | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Liabilities
Embedded derivative liability, measurement input	0.99	0.99
Policies that have a one-time over-utilization rate of a specified amount (as a percent)	10.00%	10.00%
Specified one-time over-utilization rate (as a percent)	400.00%	400.00%
Withdrawal rate prior to age 70 | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	0.015	0.015
Withdrawal rate | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	1	1
Lapse | Minimum
Liabilities
Embedded derivative liability, measurement input		0.010
Lapse | Minimum | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	0.010	0.010
Lapse | Minimum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	0.005	0.005
Lapse | Maximum
Liabilities
Embedded derivative liability, measurement input		0.300
Lapse | Maximum | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	0.300	0.300
Lapse | Maximum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	0.100	0.100
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0021	0.0011
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0021	0.0011
Nonperformance risk | Minimum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0021	0.0011
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative - GLWB | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0116	0.0079
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative—FIA | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0116	0.0079
Nonperformance risk | Maximum | Actuarial cash flow model | Embedded derivative—IUL | Level 3
Liabilities
Embedded derivative liability, measurement input	0.0116	0.0079

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Reconciliation of Fair Value Measurements for Level 3 (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Assets:
Beginning Balance	$ 1,374,044
Issuances	0	$ 0
Settlements	0	0
Ending Balance	1,268,885	1,374,044
Liabilities:
Beginning Balance	844,362	659,459
Total Realized and Unrealized Gains Included in Earnings	401,350	93,071
Total Realized Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(273,907)	(286,119)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	623	623
Settlements	11,481	8,768
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	706,061	844,362
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	130,948	(189,047)
Annuity account
Liabilities:
Beginning Balance	83,472	87,616
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,505)	(4,001)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	623	623
Settlements	11,481	8,768
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	76,119	83,472
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Other liabilities
Liabilities:
Beginning Balance	760,890	571,843
Total Realized and Unrealized Gains Included in Earnings	401,350	93,071
Total Realized Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(270,402)	(282,118)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	629,942	760,890
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	130,948	(189,047)
Total investments
Assets:
Beginning Balance	1,374,044	1,510,043
Total Realized and Unrealized Gains Included in Earnings	55,761	32,438
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090	42,908
Total Realized and Unrealized Losses Included in Earnings	(79,016)	(19,324)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,085)	(24,073)
Purchases	189,100	143,784
Sales	(194,634)	(281,289)
Transfers in/out of Level 3	(46,006)	(28,937)
Other	(1,369)	(1,506)
Ending Balance	1,268,885	1,374,044
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(26,658)	15,209
Residential mortgage-backed securities | Available-for-sale securities
Assets:
Beginning Balance	0	3
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	83
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(995)	0
Purchases	22,225	11,862
Sales	0	(3)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(21,281)	(11,944)
Other	51	(1)
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Residential mortgage-backed securities | Trading securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Commercial mortgage-backed securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	50	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(2,496)	0
Purchases	48,621	0
Sales	(293)	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(45,832)	0
Other	(50)	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Commercial mortgage-backed securities | Trading securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Other asset-backed securities | Available-for-sale securities
Assets:
Beginning Balance	504,365	562,604
Total Realized and Unrealized Gains Included in Earnings	3,716	1,409
Total Realized and Unrealized Gains Included in Other Comprehensive Income	16,503	15,136
Total Realized and Unrealized Losses Included in Earnings	(159)	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(25,577)	(10,931)
Purchases	0	100
Sales	(80,051)	(59,175)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	222	(6,643)
Other	2,623	1,865
Ending Balance	421,642	504,365
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Other asset-backed securities | Trading securities
Assets:
Beginning Balance	35,222	84,563
Total Realized and Unrealized Gains Included in Earnings	464	3,768
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,798)	(1,157)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	8,728	0
Sales	(14,511)	(52,835)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	164	0
Other	(213)	883
Ending Balance	26,056	35,222
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,179)	3,483
U.S. government-related securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
U.S. government-related securities | Trading securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
States, municipals, and political subdivisions | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
States, municipals, and political subdivisions | Trading securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Other government-related securities | Available-for-sale securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Other government-related securities | Trading securities
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Corporate securities | Available-for-sale securities
Assets:
Beginning Balance	626,901	664,046
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	12,537	27,637
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(29,017)	(13,089)
Purchases	108,491	131,822
Sales	(97,676)	(169,002)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	20,721	(10,353)
Other	(3,681)	(4,160)
Ending Balance	638,276	626,901
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Corporate securities | Trading securities
Assets:
Beginning Balance	5,442	5,492
Total Realized and Unrealized Gains Included in Earnings	45	101
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(145)	(58)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	999	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	(99)	(93)
Ending Balance	6,242	5,442
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(101)	44
Fixed maturities
Assets:
Beginning Balance	1,171,930	1,316,708
Total Realized and Unrealized Gains Included in Earnings	4,225	5,278
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090	42,856
Total Realized and Unrealized Losses Included in Earnings	(4,102)	(1,215)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,085)	(24,020)
Purchases	189,064	143,784
Sales	(192,531)	(281,015)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(46,006)	(28,940)
Other	(1,369)	(1,506)
Ending Balance	1,092,216	1,171,930
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,280)	3,527
Fixed maturities | Available-for-sale securities
Assets:
Beginning Balance	1,131,266	1,226,653
Total Realized and Unrealized Gains Included in Earnings	3,716	1,409
Total Realized and Unrealized Gains Included in Other Comprehensive Income	29,090	42,856
Total Realized and Unrealized Losses Included in Earnings	(159)	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	(58,085)	(24,020)
Purchases	179,337	143,784
Sales	(178,020)	(228,180)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	(46,170)	(28,940)
Other	(1,057)	(2,296)
Ending Balance	1,059,918	1,131,266
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	0	0
Fixed maturities | Trading securities
Assets:
Beginning Balance	40,664	90,055
Total Realized and Unrealized Gains Included in Earnings	509	3,869
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(3,943)	(1,215)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	9,727	0
Sales	(14,511)	(52,835)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	164	0
Other	(312)	790
Ending Balance	32,298	40,664
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(3,280)	3,527
Equity securities
Assets:
Beginning Balance	66,110	69,010
Total Realized and Unrealized Gains Included in Earnings	375	2
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	52
Total Realized and Unrealized Losses Included in Earnings	(93)	(2,630)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	(53)
Purchases	36	0
Sales	(2,103)	(274)
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	3
Other	0	0
Ending Balance	64,325	66,110
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	282	3
Other long-term investments
Assets:
Beginning Balance	136,004	124,325
Total Realized and Unrealized Gains Included in Earnings	51,161	27,158
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	(74,821)	(15,479)
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	112,344	136,004
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	(23,660)	11,679
Short-term investments
Assets:
Beginning Balance	0	0
Total Realized and Unrealized Gains Included in Earnings	0	0
Total Realized and Unrealized Gains Included in Other Comprehensive Income	0	0
Total Realized and Unrealized Losses Included in Earnings	0	0
Total Realized and Unrealized Losses Included in Other Comprehensive Income	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers in/out of Level 3	0	0
Other	0	0
Ending Balance	0	0
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Carrying amounts and estimated fair values of the Company's financial instruments
Capital Lease Obligations	$ 1,300	$ 1,700
Assets:
Mortgage loans on real estate	7,724,733	6,817,723
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,633,474	2,718,904
Liabilities:
Stable value product account balances	5,234,731	4,698,371
Annuity account balances	13,720,081	10,921,190
Other policyholders’ funds	1,128,379	1,267,198
Debt:
Subordinated debt	605,426	495,289
Non-recourse funding obligations	2,632,497	2,747,477
Golden Gate V
Debt:
Non-recourse funding obligations	729,454	681,285
Carrying Amounts
Assets:
Mortgage loans on real estate	7,724,733	6,817,723
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,633,474	2,718,904
Liabilities:
Stable value product account balances	5,234,731	4,698,371
Annuity account balances	1,671,414	220,498
Other policyholders’ funds	131,150	133,508
Debt:
Bank borrowings	0	0
Senior Notes	1,100,508	943,370
Subordinated debt	495,426	495,289
Non-recourse funding obligations	2,632,497	2,747,477
Carrying Amounts | Golden Gate V
Debt:
Non-recourse funding obligations	2,600,000	2,700,000
Carrying Amounts | Level 3
Debt:
Subordinated funding obligations	110,000	0
Fair Values | Golden Gate V
Debt:
Non-recourse funding obligations	2,500,000	2,800,000
Fair Values | Level 3
Assets:
Mortgage loans on real estate	7,447,702	6,740,177
Policy loans	1,695,886	1,615,615
Fixed maturities, held-to-maturity	2,547,210	2,776,327
Liabilities:
Stable value product account balances	5,200,723	4,698,868
Annuity account balances	1,671,434	220,498
Other policyholders’ funds	131,782	134,253
Debt:
Bank borrowings	0	0
Subordinated funding obligations	95,476	0
Non-recourse funding obligations	2,550,237	2,804,983
Fair Values | Level 3 | Golden Gate V
Debt:
Non-recourse funding obligations		2,800,000
Fair Values | Level 2
Debt:
Senior Notes	1,065,338	933,926
Subordinated debt	$ 494,265	$ 501,215

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Realized Investment Gains (Losses), Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	$ 60,988	$ (305,828)	$ (40,288)
Derivatives not designated as hedging instruments
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	60,988	(305,828)	(40,288)
Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	166,757	(103,009)	390
Derivatives not designated as hedging instruments | Other derivatives
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	14	50	(24)
Derivatives not designated as hedging instruments | VA
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(105,610)	(186,863)	(49,692)
Derivatives not designated as hedging instruments | VA | Interest rate futures
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(25,473)	26,015	(3,450)
Derivatives not designated as hedging instruments | VA | Equity futures
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(88,208)	(91,776)	(106,431)
Derivatives not designated as hedging instruments | VA | Currency futures
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	10,275	(23,176)	33,836
Derivatives not designated as hedging instruments | VA | Equity options
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	38,083	(94,791)	(60,962)
Derivatives not designated as hedging instruments | VA | Interest rate swaptions
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(14)	(2,490)	(1,161)
Derivatives not designated as hedging instruments | VA | Interest rate swaps
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(45,185)	27,981	20,420
Derivatives not designated as hedging instruments | VA | Total return swaps
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	77,225	(32,240)	0
Derivatives not designated as hedging instruments | VA | Embedded derivative - GLWB
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(72,313)	3,614	68,056
Derivatives not designated as hedging instruments | FIA
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(3,158)	(10,651)	(4,097)
Derivatives not designated as hedging instruments | FIA | Equity futures
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	330	642	4,248
Derivatives not designated as hedging instruments | FIA | Equity options
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(38,885)	44,585	8,149
Derivatives not designated as hedging instruments | FIA | Embedded derivative—FIA
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	35,397	(55,878)	(16,494)
Derivatives not designated as hedging instruments | IUL
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	2,985	(5,355)	13,135
Derivatives not designated as hedging instruments | IUL | Equity futures
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	261	(818)	129
Derivatives not designated as hedging instruments | IUL | Equity options
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	(6,338)	9,580	3,477
Derivatives not designated as hedging instruments | IUL | Embedded derivative—IUL
Realized investment gains (losses) - derivative instruments
Realized investment gains (losses) - derivatives, gross	$ 9,062	$ (14,117)	$ 9,529

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivatives in Cash Flow Relationship (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Next 12 Months	$ 100
Cash flow hedges
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives, Effective Portion	(2,386)	$ (867)	$ 1,058
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss), Effective Portion	(1,431)	(694)	(60)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives, Effective Portion	0	0	0
Cash flow hedges | Foreign currency swaps
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives, Effective Portion	(812)	(867)	1,058
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss), Effective Portion	(798)	(694)	(60)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives, Effective Portion	0	$ 0	$ 0
Cash flow hedges | Interest rate swaps
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives, Effective Portion	(1,574)
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss), Effective Portion	(633)
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives, Effective Portion	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Nature and Accounting Treatment of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Derivative asset, notional amount	$ 12,146,013	$ 12,331,534
Derivative asset, fair value	375,829	605,075
Derivative liability, notional amount	21,010,029	13,986,996
Derivative liability, fair value	755,461	1,007,572
Embedded derivative - Modco reinsurance treaties
Derivative [Line Items]
Derivative asset, fair value	7,072	1,009
Derivative liability, fair value	32,828	215,247
Embedded derivative - GLWB
Derivative [Line Items]
Derivative asset, fair value	105,272	134,995
Derivative liability, fair value	289,343	246,755
Embedded derivative—FIA
Derivative [Line Items]
Derivative liability, fair value	217,288	218,676
Embedded derivative—IUL
Derivative [Line Items]
Derivative liability, fair value	90,231	80,212
Cash flow hedges | Foreign currency swaps
Derivative [Line Items]
Derivative asset, notional amount	0	117,178
Derivative asset, fair value	0	6,016
Derivatives not designated as hedging instruments | Interest rate swaps
Derivative [Line Items]
Derivative asset, notional amount	1,515,500	1,265,000
Derivative asset, fair value	28,501	55,411
Derivative liability, notional amount	775,000	597,500
Derivative liability, fair value	11,367	2,960
Derivatives not designated as hedging instruments | Total return swaps
Derivative [Line Items]
Derivative asset, notional amount	138,070	190,938
Derivative asset, fair value	3,971	135
Derivative liability, notional amount	768,177	243,388
Derivative liability, fair value	23,054	318
Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Derivative [Line Items]
Derivative asset, notional amount	585,294	64,472
Derivative asset, fair value	7,072	1,009
Derivative liability, notional amount	1,795,287	2,390,539
Derivative liability, fair value	32,828	215,247
Derivatives not designated as hedging instruments | Embedded derivative - GLWB
Derivative [Line Items]
Derivative asset, notional amount	3,984,070	4,897,069
Derivative asset, fair value	105,272	134,995
Derivative liability, notional amount	8,466,019	4,718,311
Derivative liability, fair value	289,343	246,755
Derivatives not designated as hedging instruments | Embedded derivative—FIA
Derivative [Line Items]
Derivative liability, notional amount	2,576,033	1,951,650
Derivative liability, fair value	217,288	218,676
Derivatives not designated as hedging instruments | Embedded derivative—IUL
Derivative [Line Items]
Derivative liability, notional amount	233,550	168,349
Derivative liability, fair value	90,231	80,212
Derivatives not designated as hedging instruments | Interest rate futures
Derivative [Line Items]
Derivative asset, notional amount	286,208	1,071,870
Derivative asset, fair value	10,302	3,178
Derivative liability, notional amount	863,706	230,404
Derivative liability, fair value	20,100	917
Derivatives not designated as hedging instruments | Equity futures
Derivative [Line Items]
Derivative asset, notional amount	12,633	62,266
Derivative asset, fair value	483	154
Derivative liability, notional amount	659,357	318,795
Derivative liability, fair value	33,753	2,593
Derivatives not designated as hedging instruments | Currency futures
Derivative [Line Items]
Derivative asset, notional amount	0	1,117
Derivative asset, fair value	0	2
Derivative liability, notional amount	202,747	255,248
Derivative liability, fair value	2,163	2,087
Derivatives not designated as hedging instruments | Equity options
Derivative [Line Items]
Derivative asset, notional amount	5,624,081	4,436,467
Derivative asset, fair value	220,092	403,961
Derivative liability, notional amount	4,199,687	3,112,812
Derivative liability, fair value	34,178	237,807
Derivatives not designated as hedging instruments | Interest rate swaptions
Derivative [Line Items]
Derivative asset, notional amount	0	225,000
Derivative asset, fair value	0	14
Derivatives not designated as hedging instruments | Other derivatives
Derivative [Line Items]
Derivative asset, notional amount	157	157
Derivative asset, fair value	136	200
Derivative liability, notional amount	3,288	0
Derivative liability, fair value	252	0
Cash flow hedges | Cash flow hedges | Foreign currency swaps
Derivative [Line Items]
Derivative liability, notional amount	117,178	0
Derivative liability, fair value	904	0
Cash flow hedges | Cash flow hedges | Interest rate swaps
Derivative [Line Items]
Derivative liability, notional amount	350,000	0
Derivative liability, fair value	$ 0	$ 0

OFFSETTING OF ASSETS AND LIAB_3

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

OFFSETTING OF ASSETS AND LIAB_4

OFFSETTING OF ASSETS AND LIABILITIES - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, not subject to a master netting arrangement	$ 375,829	$ 605,075
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	375,829	605,075
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	206,308	254,140
Free-Standing derivatives
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, subject to a master netting arrangement	263,349	468,871
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	263,349	468,871
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	93,828	117,936
Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, subject to a master netting arrangement	263,349	468,871
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	263,349	468,871
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	99,199	108,830
Net Amount	93,828	117,936
Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, not subject to a master netting arrangement	7,072	1,009
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	7,072	1,009
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	7,072	1,009
Embedded derivative - GLWB
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, not subject to a master netting arrangement	105,272	134,995
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	105,272	134,995
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	105,272	134,995
Other
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, not subject to a master netting arrangement	136	200
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	136	200
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	136	200
Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets, not subject to a master netting arrangement	112,480	136,204
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets Presented in the Statement of Financial Position	112,480	136,204
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Received	0	0
Net Amount	$ 112,480	$ 136,204

OFFSETTING OF ASSETS AND LIAB_5

OFFSETTING OF ASSETS AND LIABILITIES - Offsetting of Derivative Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	$ 755,461	$ 1,007,572
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	755,461	1,007,572
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	637,283	760,890
Repurchase agreements
Gross Amounts of Recognized Liabilities	418,090	885,000
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	418,090	885,000
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Posted	0	0
Net Amount	418,090	885,000
Total Liabilities
Gross Amounts of Recognized Liabilities	1,173,551	1,892,572
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	1,173,551	1,892,572
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Posted	47,856	4,577
Net Amount	1,055,373	1,645,890
Free-Standing derivatives
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, subject to a master netting arrangement	125,519	246,682
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	125,519	246,682
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	7,341	0
Total derivatives, subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, subject to a master netting arrangement	125,519	246,682
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	125,519	246,682
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, subject to a master netting arrangement	70,322	242,105
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	47,856	4,577
Net Amount	7,341	0
Embedded derivative - Modco reinsurance treaties
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	32,828	215,247
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	32,828	215,247
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0	0
Net Amount	32,828	215,247
Embedded derivative - GLWB
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	289,343	246,755
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	289,343	246,755
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0	0
Net Amount	289,343	246,755
Embedded derivative—FIA
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	217,288	218,676
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	217,288	218,676
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0	0
Net Amount	217,288	218,676
Embedded derivative—IUL
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	90,231	80,212
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	90,231	80,212
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0	0
Net Amount	90,231	80,212
Other
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	252
Gross Amounts Offset in the Statement of Financial Position	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	252
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0
Net Amount	252
Total derivatives, not subject to a master netting arrangement or similar arrangement
Offsetting of Derivative Liabilities:
Gross Amounts of Recognized Liabilities, not subject to a master netting arrangement	629,942	760,890
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Position	629,942	760,890
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to a master netting arrangement	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Collateral Posted	0	0
Net Amount	$ 629,942	$ 760,890

MORTGAGE LOANS - Narrative and

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

MORTGAGE LOANS - Change in Allo

MORTGAGE LOANS - Change in Allowance for Credit Losses (Details) - Commercial mortgage loans - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in the allowance for credit losses
Beginning balance	$ 0	$ 724,000
Charge offs	0	(6,708,000)
Recoveries	(209,000)	(731,000)
Provision	1,505,000	6,715,000
Ending balance	$ 1,296,000	$ 0

MORTGAGE LOANS - Delinquent Loa

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

MORTGAGE LOANS - Impaired Loans

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

MORTGAGE LOANS - Troubled Debt

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

DEFERRED POLICY ACQUISITION C_3

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Balances and changes in DAC
Balance, beginning of period	$ 837,785	$ 572,328
Capitalization of commissions, sales, and issue expenses	446,468	333,250
Amortization	(133,337)	(52,559)
Change due to unrealized investment gains and losses	56,153	(15,234)
Implementation of ASU 2014-09	138,434	0
Balance, end of period	1,345,503	837,785
Balances and changes in VOBA
Balance, beginning of period	1,361,792	1,447,501
Acquisitions	336,862	0
Amortization	(92,471)	(25,662)
Change due to unrealized investment gains and losses	71,468	(60,047)
Balance, end of period	1,677,651	$ 1,361,792
Expected amortization of VOBA for the next five years
2,019	139,662
2,020	128,465
2,021	114,081
2,022	104,147
2,023	$ 94,740

GOODWILL (Details)

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

CERTAIN NONTRADITIONAL LONG-D_3

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS - Activity During Period (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances				$ 12,288,919	$ 13,956,071
VA | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Average attained age of contract holders	68 years
Percentage of variable annuity business reinsured	100.00%
VA | Acquisitions | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				12,300
Guaranteed minimum death benefits (GMDB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances				$ 8,400,000	9,700,000
Guaranteed minimum death benefits (GMDB) | VA
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate at which last anniversary date account value is compounded (as a percent)				5.00%
Separate account balances				$ 11,800,000	13,700,000
Mean investment performance (as a percent)				6.51%
Average discount rate (as a percent)				4.80%
Guaranteed amount payable				$ 340,600
Guaranteed amount payable with GMDB reserve	$ 34,083	$ 34,796	$ 36,427	44,321	$ 34,083
Average attained age of contract holders	71 years
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the beginning of the period	$ 34,083	34,796	36,427
Incurred guarantee benefits	13,619	902	678
Less: Paid guarantee benefits	3,381	1,615	2,309
Balance at the end of the period	44,321	$ 34,083	$ 34,796
Guaranteed minimum death benefits (GMDB) | VA | Annuities
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				274,400
Guaranteed amount payable with GMDB reserve	39,200			39,200
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the end of the period	39,200
Guaranteed minimum death benefits (GMDB) | VA | Acquisitions
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable				66,200
Guaranteed amount payable with GMDB reserve	5,100			$ 5,100
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the end of the period	$ 5,100

CERTAIN NONTRADITIONAL LONG-D_4

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS - Account Balances and Deferred Sales Inducement Asset (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2018	Dec. 31, 2017
Activity in the Company's deferred sales inducement asset
Deferred asset, beginning of period	$ 11,756	$ 30,956	$ 22,497
Amounts deferred	16,212	13,336	14,246
Amortization	$ (5,471)	(4,715)	(5,787)
Deferred asset, end of period		39,577	30,956
VA
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		11,868,599	13,734,986
Equity mutual funds | VA
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		5,300,024	8,914,637
Fixed income mutual funds | VA
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts		$ 6,568,575	$ 4,820,349

REINSURANCE - Additional Inform

REINSURANCE - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018insurer	Dec. 31, 2016USD ($)	Dec. 31, 2008USD ($)	Dec. 31, 2005USD ($)
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	34.00%
Single insured life
REINSURANCE
Amount of insurance retained before revision - certain newly issued traditional life products				$ 500,000
Amount of insurance retained - certain newly issued traditional life products			$ 2,000,000	$ 1,000,000
Amount of insurance retained - certain traditional and universal life products		$ 5,000,000
Reinsurer Concentration Risk
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	15.00%
Life insurance in-force reinsured, concentrated number of reinsurers | insurer	3

REINSURANCE - Life Insurance In

REINSURANCE - Life Insurance In-Force and Effect of Reinsurance on Premiums Written and Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Life insurance in-force
Direct life insurance in-force	$ 765,986,223	$ 751,512,468	$ 739,248,680
Amounts assumed from other companies	135,407,408	110,205,190	116,265,430
Amounts ceded to other companies	(302,149,614)	(328,377,398)	(348,994,650)
Net life insurance in-force	$ 599,244,017	$ 533,340,260	$ 506,519,460
Percentage of amount assumed to net	23.00%	21.00%	23.00%
Effect of reinsurance on premiums written and earned
Gross Amount	$ 3,036,853	$ 3,017,685	$ 2,929,767
Ceded to Other Companies	(1,384,941)	(1,360,735)	(1,314,716)
Assumed from Other Companies	643,992	459,734	478,164
Net Amount	2,295,904	2,116,684	2,093,215
Reinsurance receivables	4,700,000	5,100,000
Ceded benefits which are recoverable from reinsurers	115,800	96,600
Receivables related to insurance assumed	64,800	65,100
Life insurance
Effect of reinsurance on premiums written and earned
Gross Amount	2,681,191	2,655,846	2,610,682
Ceded to Other Companies	(1,173,194)	(1,151,175)	(1,126,915)
Assumed from Other Companies	626,283	435,113	454,999
Net Amount	2,134,280	1,939,784	1,938,766
Annuity policy fees	177,100	173,500	160,400
Accident/health insurance
Effect of reinsurance on premiums written and earned
Gross Amount	47,028	51,991	58,076
Ceded to Other Companies	(30,126)	(33,051)	(36,935)
Assumed from Other Companies	12,826	14,945	17,439
Net Amount	29,728	33,885	38,580
Property and liability insurance
Effect of reinsurance on premiums written and earned
Gross Amount	308,634	309,848	261,009
Ceded to Other Companies	(181,621)	(176,509)	(150,866)
Assumed from Other Companies	4,883	9,676	5,726
Net Amount	$ 131,896	$ 143,015	$ 115,869

REINSURANCE - Receivables (Deta

REINSURANCE - Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Reinsurance
Reinsurance receivables	$ 4,764,743	$ 5,075,698
Reinsurer Concentration Risk | Security Life of Denver Insurance Company | A
Reinsurance
Reinsurance receivables	722,200	740,800
Reinsurer Concentration Risk | Swiss Re Life & Health America, Inc. | A plus
Reinsurance
Reinsurance receivables	603,800	614,800
Reinsurer Concentration Risk | Lincoln National Life Insurance Co. | A plus
Reinsurance
Reinsurance receivables	461,100	489,100
Reinsurer Concentration Risk | SCOR Global Life(1) | A plus
Reinsurance
Reinsurance receivables	317,200	331,800
Reinsurer Concentration Risk | Transamerica Life Insurance Co. | A plus
Reinsurance
Reinsurance receivables	301,000	335,600
Reinsurer Concentration Risk | RGA Reinsurance Company | A plus
Reinsurance
Reinsurance receivables	260,500	278,300
Reinsurer Concentration Risk | American United Life Insurance Company | A plus
Reinsurance
Reinsurance receivables	242,800	266,700
Reinsurer Concentration Risk | Centre Reinsurance (Bermuda) Ltd
Reinsurance
Reinsurance receivables	197,400	212,200
Reinsurer Concentration Risk | The Canada Life Assurance Company | A plus
Reinsurance
Reinsurance receivables	188,200	186,100
Reinsurer Concentration Risk | Employers Reassurance Corporation | B plus
Reinsurance
Reinsurance receivables	$ 178,400	$ 193,900

DEBT AND OTHER OBLIGATIONS - Su

DEBT AND OTHER OBLIGATIONS - Summary of Debt and Subordinated Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Outstanding Principal	$ 991,363	$ 784,610
Total debt	1,101,827	945,052
Subordinated debt	605,426	495,289
6.40% Senior Notes (2007), due 2018
Debt Instrument [Line Items]
Outstanding Principal	0	150,000
Total debt	$ 0	150,518
Stated interest rate (as a percent)	6.40%
7.375% Senior Notes (2009), due 2019
Debt Instrument [Line Items]
Outstanding Principal	$ 400,000	400,000
Total debt	$ 416,469	435,806
Stated interest rate (as a percent)	7.375%
8.45% Senior Notes (2009), due 2039
Debt Instrument [Line Items]
Outstanding Principal	$ 190,044	232,928
Total debt	$ 288,547	357,046
Stated interest rate (as a percent)	8.45%
4.30% Senior Notes (2018), due 2028
Debt Instrument [Line Items]
Outstanding Principal	$ 400,000
Total debt	$ 395,492	0
Stated interest rate (as a percent)	4.30%
5.35% Subordinated Debentures (2017), due 2052
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.35%
Capital lease obligation
Debt Instrument [Line Items]
Outstanding Principal	$ 1,319	1,682
Total debt	1,319	1,682
Subordinated debentures
Debt Instrument [Line Items]
Outstanding Principal	610,000	500,000
Subordinated debt	605,426	495,289
Subordinated debentures | 5.35% Subordinated Debentures (2017), due 2052
Debt Instrument [Line Items]
Outstanding Principal	500,000	500,000
Subordinated debt	495,426	495,289
Subordinated debentures | 3.55% Subordinated Funding Obligations (2018), due 2038
Debt Instrument [Line Items]
Outstanding Principal	55,000	0
Subordinated debt	$ 55,000	0
Stated interest rate (as a percent)	3.55%
Subordinated debentures | 3.55% Subordinated Funding Obligations (2018), due 2038
Debt Instrument [Line Items]
Outstanding Principal	$ 55,000	0
Subordinated debt	$ 55,000	0
Stated interest rate (as a percent)	3.55%
Credit Facility
Debt Instrument [Line Items]
Outstanding Principal	$ 0	0
Total debt	$ 0	$ 0

DEBT AND OTHER OBLIGATIONS - De

DEBT AND OTHER OBLIGATIONS - Debt and Subordinated Debt Securities Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	May 03, 2018
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Debt maturities due in 2019	$ 416,500,000
Debt maturities due thereafter	684,000,000
Outstanding principal	$ 991,363,000	$ 784,610,000
Golden Gate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	4.75%
Subordinated debentures
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Outstanding principal	$ 610,000,000	500,000,000
8.45% Senior Notes (2009), due 2039
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Redemption of subordinated debt	65,600,000
Par value of extinguished debt	$ 42,900,000
Stated interest rate (as a percent)	8.45%
Pre-tax gain on extinguishment	$ 1,800,000
Outstanding principal	$ 190,044,000	232,928,000
3.55% Subordinated Debentures (2018), due 2038
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	3.55%
3.55% Subordinated Debentures (2018), due 2038 | Subordinated debentures
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Outstanding principal	$ 110,000,000
4.30% Senior Notes (2018), due 2028
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	4.30%
Outstanding principal	$ 400,000,000
Discount on notes	1,000,000
Debt issuance costs	$ 3,700,000
5.35% Subordinated Debentures (2017), due 2052
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	5.35%
5.35% Subordinated Debentures (2017), due 2052 | Subordinated debentures
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Outstanding principal	$ 500,000,000	500,000,000
Amount of debt issued	500,000,000
Debt issuance costs	$ 4,800,000
6.00% Subordinated Debentures, due 2042
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	6.00%
6.00% Subordinated Debentures, due 2042 | Subordinated debentures
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Repayment of debt		150,000,000
6.25% Subordinated Debentures (2012), due 2042, callable 2017
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Stated interest rate (as a percent)	6.25%
6.25% Subordinated Debentures (2012), due 2042, callable 2017 | Subordinated debentures
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Repayment of debt		$ 287,500,000
2015 Credit Facility
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity	$ 1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	$ 1,250,000,000
Facility fee percentage	0.125%
2015 Credit Facility | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	0.50%
2015 Credit Facility | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	1.00%
2015 Credit Facility as amended
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity	$ 1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request			$ 1,500,000,000
Facility fee percentage	0.125%
2015 Credit Facility as amended | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	0.50%
2015 Credit Facility as amended | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	1.00%

DEBT AND OTHER OBLIGATIONS DEBT

DEBT AND OTHER OBLIGATIONS DEBT AND OTHER OBLIGATIONS - Summary of Debt Covenant Calculations (Details)	Dec. 31, 2018USD ($)
Minimum
Debt Instrument [Line Items]
Consolidated net worth margin, requirement	$ 0
Consolidated net worth margin, actual results	$ 1,000,000,000
Maximum
Debt Instrument [Line Items]
Debt to total capital ratio, requirement	40.00%
Debt to total capital ratio, actual results	23.00%

DEBT AND OTHER OBLIGATIONS - No

DEBT AND OTHER OBLIGATIONS - Non-Recourse Funding Obligations (Details) - USD ($)	Jan. 15, 2016	Oct. 10, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 2,632,497,000	$ 2,747,477,000
Non-recourse funding obligations held by affiliates			554,400,000
Issuance (repayment) of non-recourse funding obligations			(119,000,000)	(47,000,000)	$ 2,094,700,000
Amount collateralized			495,307,000	1,017,749,000
Repurchase Non Recourse Funding Obligations			38,000,000
Outstanding nonrecourse funding obligations repurchased at discount			0
Financing Agreement With Golden Gate And Syndicate ff Risk Takers
Debt Instrument [Line Items]
Term of financing agreement	18 years
Financing capacity under the agreement	$ 2,188,000,000
Golden Gate V and Red Mountain
Debt Instrument [Line Items]
Term of transaction		20 years
Maximum financing capacity under transaction		$ 945,000,000
Golden Gate
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 1,883,000,000
Fixed annual rate (as a percent)			4.75%
Golden Gate II
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 17,703,000	$ 49,787,000
Year-to-Date Weighted-Avg Interest Rate			4.99%	3.88%
Outstanding non-recourse funding obligations			$ 575,000,000
Non-recourse funding obligations held by external parties			20,600,000
Issuance (repayment) of non-recourse funding obligations			600,000
Amount collateralized			4,900,000
Red Mountain LLC
Debt Instrument [Line Items]
Issuance (repayment) of non-recourse funding obligations			0
Principal amount of note issued		$ 275,000,000	670,000,000
Golden Gate V
Debt Instrument [Line Items]
Non-recourse funding obligations			$ 729,454,000	$ 681,285,000
Fixed annual rate (as a percent)			6.25%
Year-to-Date Weighted-Avg Interest Rate			5.12%	5.12%
Maximum financing capacity under transaction			$ 945,000,000
Principal amount of note issued			670,000,000
Future scheduled capital contributions			114,600,000
Surplus Notes | Golden Gate | Steel City Notes
Debt Instrument [Line Items]
Amount of debt issued	2,188,000,000		$ 1,883,000,000
Surplus Notes | Steel City LLC | Golden Gate Surplus Notes
Debt Instrument [Line Items]
Amount of debt issued	$ 2,188,000,000

DEBT AND OTHER OBLIGATIONS - _2

DEBT AND OTHER OBLIGATIONS - Non-Recourse Funding Obligations Outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Outstanding Principal	$ 2,574,691	$ 2,693,691
Carrying Value	2,632,497	2,747,477
Golden Gate Captive Insurance Company
Debt Instrument [Line Items]
Outstanding Principal	1,883,000	2,014,000
Carrying Value	$ 1,883,000	$ 2,014,000
Year-to-Date Weighted-Avg Interest Rate	4.75%	4.75%
Golden Gate II
Debt Instrument [Line Items]
Outstanding Principal	$ 20,600	$ 58,600
Carrying Value	$ 17,703	$ 49,787
Year-to-Date Weighted-Avg Interest Rate	4.99%	3.88%
Golden Gate V
Debt Instrument [Line Items]
Outstanding Principal	$ 670,000	$ 620,000
Carrying Value	$ 729,454	$ 681,285
Year-to-Date Weighted-Avg Interest Rate	5.12%	5.12%
MONY
Debt Instrument [Line Items]
Outstanding Principal	$ 1,091	$ 1,091
Carrying Value	$ 2,340	$ 2,405
Year-to-Date Weighted-Avg Interest Rate	6.19%	6.19%

DEBT AND OTHER OBLIGATIONS - Le

DEBT AND OTHER OBLIGATIONS - Letters of Credit, Repurchase Program Borrowings and Interest Expense (Details)	12 Months Ended
	Dec. 31, 2018USD ($)installment	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2015USD ($)	Dec. 10, 2010USD ($)
Debt Instrument [Line Items]
Secured borrowings, percent of initial collateral required	102.00%
Securities lending transactions	$ 72,176,000	$ 125,271,000	$ 72,200,000
Securities loaned, fair value of collateral	77,200,000
Repurchase Program Borrowings
Debt Instrument [Line Items]
Fair value of securities pledged under the repurchase program	451,900,000
Secured financing liabilities	$ 418,100,000
Repurchase Average Daily Balance At Average Interest Rate	2.45%
Maximum balance outstanding	$ 885,000,000	988,500,000
Average daily balance	$ 511,400,000	$ 624,700,000
Average borrowing rate (as a percent)	1.84%	1.01%
Golden Gate III | Letter of Credit | Third Amended and Restated Reimbursement Agreement
Debt Instrument [Line Items]
Maximum amount up to which LOC will be periodically increased				$ 935,000,000
Outstanding letters of credit (LOC)	$ 860,000,000
Letter of credit term	15 years
Future scheduled capital contributions	$ 70,000,000
Number of installments in which future scheduled capital contributions payable | installment	2
Golden Gate III | Letter of Credit | Reimbursement Agreement
Debt Instrument [Line Items]
Repayment of debt	$ 0
Golden Gate IV | Letter of Credit | Reimbursement Agreement
Debt Instrument [Line Items]
Maximum amount up to which LOC will be periodically increased		$ 790,000,000
Outstanding letters of credit (LOC)	$ 770,000,000
Letter of credit term	12 years
Repayment of debt	$ 0
Maximum borrowing capacity under letter of credit					$ 270,000,000
Maximum | Repurchase Program Borrowings
Debt Instrument [Line Items]
Term of debt	90 days

DEBT AND OTHER OBLIGATIONS - Re

DEBT AND OTHER OBLIGATIONS - Remaining Contractual Maturity of the Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 451,895
Securities lending transactions	72,176	125,271	$ 72,200
Total securities	524,071	1,131,878
Overnight and Continuous
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	433,182
Securities lending transactions	72,176	125,271
Total securities	505,358	1,131,878
Up to 30 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	18,713
Securities lending transactions	0	0
Total securities	18,713	0
30 - 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Securities lending transactions	0	0
Total securities	0	0
Greater than 90 Days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Securities lending transactions	0	0
Total securities	0	0
U.S. Treasury and agency securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	451,895	307,633
U.S. Treasury and agency securities | Overnight and Continuous
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	433,182	307,633
U.S. Treasury and agency securities | Up to 30 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	18,713	0
U.S. Treasury and agency securities | 30 - 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
U.S. Treasury and agency securities | Greater than 90 Days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Mortgage loans
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	1,006,607
Mortgage loans | Overnight and Continuous
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	1,006,607
Mortgage loans | Up to 30 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Mortgage loans | 30 - 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Mortgage loans | Greater than 90 Days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0	0
Corporate Debt Securities
Debt Instrument [Line Items]
Securities lending transactions	71,285	118,817
Corporate Debt Securities | Overnight and Continuous
Debt Instrument [Line Items]
Securities lending transactions	71,285	118,817
Corporate Debt Securities | Up to 30 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Corporate Debt Securities | 30 - 90 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Corporate Debt Securities | Greater than 90 Days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Equity securities
Debt Instrument [Line Items]
Securities lending transactions	891	5,699
Equity securities | Overnight and Continuous
Debt Instrument [Line Items]
Securities lending transactions	891	5,699
Equity securities | Up to 30 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Equity securities | 30 - 90 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Equity securities | Greater than 90 Days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Redeemable preferred stock
Debt Instrument [Line Items]
Securities lending transactions	0	755
Redeemable preferred stock | Overnight and Continuous
Debt Instrument [Line Items]
Securities lending transactions	0	755
Redeemable preferred stock | Up to 30 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Redeemable preferred stock | 30 - 90 days
Debt Instrument [Line Items]
Securities lending transactions	0	0
Redeemable preferred stock | Greater than 90 Days
Debt Instrument [Line Items]
Securities lending transactions	$ 0	0
Corporate Debt Securities
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions		698,974
Corporate Debt Securities | Overnight and Continuous
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions		698,974
Corporate Debt Securities | Up to 30 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions		0
Corporate Debt Securities | 30 - 90 days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions		0
Corporate Debt Securities | Greater than 90 Days
Debt Instrument [Line Items]
Repurchase agreements and repurchase-to-maturity transactions		$ 0

DEBT AND OTHER OBLIGATIONS - Sc

DEBT AND OTHER OBLIGATIONS - Schedule of Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt, subordinated debt, and subordinated funding obligations	$ 66.5	$ 61.3	$ 62.1
Non-recourse funding obligations, other obligations, and repurchase agreements	172.6	171.9	163.7
Total interest expense	$ 239.1	$ 233.2	$ 225.8

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Indemnification Agreement (Details)	Dec. 31, 2018USD ($)
Indemnification Agreement
Commitments and contingencies
Indemnification agreement with certain officers, maximum (up to)	$ 10,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Administrative and Marketing Office Space and Building (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)city	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2013USD ($)
Future minimum rental payments required under operating leases
Outstanding mortgage loan commitments	$ 685,300	$ 572,300
Average rate (as a percent)	4.42%	4.14%
Administrative and marketing office space
Operating leased assets
Number of cities in which the company leases properties | city	17
Rental expense	$ 8,300	$ 7,800	$ 6,700
Aggregate annualized rent	8,300
Future minimum rental payments required under operating leases
2,019	5,454
2,020	3,707
2,021	3,393
2,022	3,129
2,023	3,171
Thereafter	$ 5,418
Administrative and marketing office space | Minimum
Operating leased assets
Lease period (in years)	1 year
Administrative and marketing office space | Maximum
Operating leased assets
Lease period (in years)	9 years
Building contiguous to home office
Future minimum rental payments required under operating leases
Approximate price for which the company may purchase building at the end of lease term				$ 75,000

EMPLOYEE BENEFIT PLANS - Define

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

EMPLOYEE BENEFIT PLANS - Change

EMPLOYEE BENEFIT PLANS - Change in Projected Benefit Obligation, Fair Value of Plan Assets, Funded Status, and Amounts Not Yet Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$ 10,978	$ 9,634
Service cost	153	122
Interest cost	366	354
Actuarial (gain)/loss	(1,045)	1,347
Projected benefit obligation at end of year	10,012	10,978	$ 9,634
Change in plan assets:
Benefits paid	(440)	(479)
Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	269,802	278,084
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	300,423	265,848
Service cost	13,185	12,011	12,791
Interest cost	9,830	9,846	9,751
Amendments	0	0
Actuarial (gain)/loss	(15,608)	26,539
Benefits paid	(19,701)	(13,821)
Projected benefit obligation at end of year	288,129	300,423	265,848
Change in plan assets:
Fair value of plan assets at beginning of year	260,926	201,843
Actual return on plan assets	(6,070)	29,404
Employer contributions	18,800	43,500
Benefits paid	(19,701)	(13,821)
Fair value of plan assets at end of year	253,955	260,926	201,843
After reflecting FASB guidance:
Funded status	(34,174)	(39,497)
Amounts recognized in the balance sheet:
Other liabilities	(34,174)	(39,497)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain)/loss	10,370	2,850
Prior service cost/(credit)	0	0
Total amounts recognized in AOCI	10,370	2,850
Nonqualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	46,299	50,149
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	54,590	47,802
Service cost	1,415	1,350	1,413
Interest cost	1,436	1,480	1,353
Amendments	0	0
Actuarial (gain)/loss	(2,001)	7,861
Benefits paid	(8,095)	(3,903)
Projected benefit obligation at end of year	47,345	54,590	47,802
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	8,095	3,903
Benefits paid	(8,095)	(3,903)
Fair value of plan assets at end of year	0	0	$ 0
After reflecting FASB guidance:
Funded status	(47,345)	(54,590)
Amounts recognized in the balance sheet:
Other liabilities	(47,345)	(54,590)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain)/loss	9,025	13,521
Prior service cost/(credit)	0	0
Total amounts recognized in AOCI	$ 9,025	$ 13,521

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost (Details) - Qualified Pension Plan	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Qualified Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	4.21%	3.55%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.55%	4.04%	4.29%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%	3.75%
Expected long-term return on plan assets (as a percent)	7.00%	7.00%	7.25%
Nonqualified Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.93%	3.26%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	3.25%	3.60%	3.63%
Rate of compensation increase prior to age 40 (as a percent)	4.75%	4.75%	4.75%
Rate of compensation increase age 40 and above (as a percent)	3.75%	3.75%	3.75%

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - Qualified Pension Plan - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Qualified Plan
EMPLOYEE BENEFIT PLANS
Service cost—benefits earned during the period			$ 13,185	$ 12,011	$ 12,791
Interest cost on projected benefit obligation			9,830	9,846	9,751
Expected return on plan assets			(17,058)	(13,570)	(13,780)
Amortization of prior service cost/(credit)			0	0	0
Amortization of actuarial loss/(gain)			0	0	0
Preliminary net periodic benefit cost			5,957	8,287	8,762
Settlement/curtailment expense			0	0	(964)
Total net periodic benefit cost			$ 5,957	8,287	7,798
Average remaining service period used			9 years 2 months 3 days
Nonqualified Plan
EMPLOYEE BENEFIT PLANS
Service cost—benefits earned during the period			$ 1,415	1,350	1,413
Interest cost on projected benefit obligation			1,436	1,480	1,353
Expected return on plan assets			0	0	0
Amortization of prior service cost/(credit)			0	0	0
Amortization of actuarial loss/(gain)			969	634	178
Preliminary net periodic benefit cost			3,820	3,464	2,944
Settlement/curtailment expense			1,526	0	2,135
Total net periodic benefit cost			$ 5,346	$ 3,464	$ 5,079
Average remaining service period used	7 years 10 months 14 days	7 years 8 months 24 days

EMPLOYEE BENEFIT PLANS - Estima

EMPLOYEE BENEFIT PLANS - Estimated Future Benefit Payments Under the Defined Benefit Pension Plan and Unfunded Excess Benefit Plan (Details) - Qualified Pension Plan $ in Thousands	Dec. 31, 2018USD ($)
Qualified Plan
Estimated future benefit payments under defined benefit pension plan
2,019	$ 19,544
2,020	20,723
2,021	21,153
2,022	22,538
2,023	22,765
2024 - 2028	120,355
Nonqualified Plan
Estimated future benefit payments under defined benefit pension plan
2,019	6,788
2,020	5,196
2,021	5,286
2,022	5,583
2,023	4,754
2024 - 2028	$ 19,586

EMPLOYEE BENEFIT PLANS - Alloca

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

EMPLOYEE BENEFIT PLANS - Plan A

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

EMPLOYEE BENEFIT PLANS - Plan_2

EMPLOYEE BENEFIT PLANS - Plan Assets at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Group life insurance plan | Money market fund
Fair value hierarchy of Plan's assets
Total investments	$ 5,104	$ 5,104
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	5,104
Fair value of plan assets at end of year	4,854	5,104
Group life insurance plan | Level 1 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	5,104	5,104
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	5,104
Fair value of plan assets at end of year	4,854	5,104
Group life insurance plan | Level 2 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Group life insurance plan | Level 3 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan
Fair value hierarchy of Plan's assets
Total investments	260,926	201,843
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	260,926	201,843
Fair value of plan assets at end of year	253,955	260,926
Qualified Plan | Qualified Pension Plan | Cash
Fair value hierarchy of Plan's assets
Total investments	39,897	39,897
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	39,897
Fair value of plan assets at end of year	1,225	39,897
Qualified Plan | Qualified Pension Plan | Equity securities
Fair value hierarchy of Plan's assets
Total investments	146,143	146,143
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	146,143
Fair value of plan assets at end of year	158,823	146,143
Qualified Plan | Qualified Pension Plan | Fixed income
Fair value hierarchy of Plan's assets
Total investments	15,200
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	15,200
Qualified Plan | Qualified Pension Plan | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	74,886	74,886
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	74,886
Fair value of plan assets at end of year	78,707	74,886
Qualified Plan | Qualified Pension Plan | Level 1
Fair value hierarchy of Plan's assets
Total investments	186,040	186,040
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	186,040
Fair value of plan assets at end of year	175,248	186,040
Qualified Plan | Qualified Pension Plan | Level 1 | Cash
Fair value hierarchy of Plan's assets
Total investments	39,897	39,897
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	39,897
Fair value of plan assets at end of year	1,225	39,897
Qualified Plan | Qualified Pension Plan | Level 1 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	146,143	146,143
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	146,143
Fair value of plan assets at end of year	158,823	146,143
Qualified Plan | Qualified Pension Plan | Level 1 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	15,200
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	15,200
Qualified Plan | Qualified Pension Plan | Level 1 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 2
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 2 | Cash
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 2 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 2 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	0
Qualified Plan | Qualified Pension Plan | Level 2 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 3
Fair value hierarchy of Plan's assets
Total investments	74,886	71,226
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	74,886	71,226
Interest income	3,821	3,660
Transfers from collective short-term investments fund	0	0
Transfers to collective short-term investments fund	0	0
Fair value of plan assets at end of year	78,707	74,886
Qualified Plan | Qualified Pension Plan | Level 3 | Cash
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 3 | Equity securities
Fair value hierarchy of Plan's assets
Total investments	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Qualified Plan | Qualified Pension Plan | Level 3 | Fixed income
Fair value hierarchy of Plan's assets
Total investments	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	0
Qualified Plan | Qualified Pension Plan | Level 3 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	74,886	74,886
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	74,886
Fair value of plan assets at end of year	$ 78,707	$ 74,886

EMPLOYEE BENEFIT PLANS - Level

EMPLOYEE BENEFIT PLANS - Level 3 Financial Instrument (Details) - Qualified Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Qualified Pension Plan
Employee benefit plans
Fair Value	$ 253,955	$ 260,926	$ 201,843
Qualified Pension Plan | Level 3
Employee benefit plans
Fair Value	78,707	74,886	$ 71,226
Group deposit administration annuity contract | Qualified Pension Plan
Employee benefit plans
Fair Value	78,707	74,886
Group deposit administration annuity contract | Qualified Pension Plan | Level 3
Employee benefit plans
Fair Value	$ 78,707	$ 74,886
Group deposit administration annuity contract | Level 3 | Contract Value | Minimum
Employee benefit plans
Contract rate (as a percent)	5.06%
Group deposit administration annuity contract | Level 3 | Contract Value | Maximum
Employee benefit plans
Contract rate (as a percent)	5.14%

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
EMPLOYEE BENEFIT PLANS
Period for which the average and annualized return on Barclay's short treasury index is considered for assessment of reasonableness of long term rate of return assumption	25 years
Other Postretirement Benefits | Maximum
EMPLOYEE BENEFIT PLANS
Age of eligibility for limited healthcare benefits	65 years
Retiree medical plan | Minimum
EMPLOYEE BENEFIT PLANS
Age of eligibility for prescription drug benefit	65 years
Group life insurance plan
EMPLOYEE BENEFIT PLANS
Face amount of life insurance benefits funded	$ 50,000
Discount rate (as a percent)	4.38%
Discount rate (as a percent)	3.74%
Expected long-term return on plan assets (as a percent)	2.75%
Group life insurance plan | Minimum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	$ 10,000
Group life insurance plan | Maximum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	75,000
Nonqualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Amortized loss from other comprehensive income into net periodic benefit	600,000
Employer contributions	$ 8,095,000	$ 3,903,000
Discount rate (as a percent)	3.93%	3.26%
Discount rate (as a percent)	3.25%	3.60%	3.63%
Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Employer contributions	$ 18,800,000	$ 43,500,000
Target allocation (as a percent)	100.00%	100.00%
Adjusted funding target percentage subject to benefit restrictions, maximum	80.00%
Adjusted funding target percentage to be maintained (at least)	80.00%
Contribution made by the company to its defined benefit pension plan year 2016	$ 18,800,000
Discount rate (as a percent)	4.21%	3.55%
Discount rate (as a percent)	3.55%	4.04%	4.29%
Expected long-term return on plan assets (as a percent)	7.00%	7.00%	7.25%
Qualified Plan | Qualified Pension Plan | Minimum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer	$ 10,000,000
Qualified Plan | Qualified Pension Plan | Maximum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer	$ 20,000,000
Equity securities | Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Target allocation (as a percent)		60.00%
Fixed maturities | Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Target allocation (as a percent)		38.00%
Cash and cash equivalents | Qualified Plan | Qualified Pension Plan
EMPLOYEE BENEFIT PLANS
Target allocation (as a percent)		2.00%

EMPLOYEE BENEFIT PLANS - 401(k)

EMPLOYEE BENEFIT PLANS - 401(k) Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
401 (k) Plan
Employee contribution, maximum percentage of eligible annual compensation (up to)	25.00%
Maximum annual contribution by employee	$ 18,500
Minimum age required to be eligible to make catch-up contribution	50 years
Maximum additional contribution over and above regular annual contribution limits	$ 6,000
Maximum employer matching contribution (as a percent)	4.00%
Expenses recorded due to adopting a cash match for employee contributions to the 401(k) plan	$ 9,200,000	$ 8,200,000
Amount of expenses recorded under a plan that provides supplemental matching contributions in excess of limits imposed	$ 1,300,000	$ 1,100,000	$ 600,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 7,127,199	$ 5,471,521	$ 4,581,224
Cumulative effect adjustments		0
Ending Balance	5,767,734	7,127,199	5,471,521	$ 4,581,224
Unrealized gains and losses on available-for-sale securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	25,874	(656,322)	(1,247,065)
Other comprehensive income (loss) before reclassifications	(1,420,499)	707,298	602,211
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(20,751)	391	(2,008)
Amounts reclassified from accumulated other comprehensive income (loss)	15,651	642	(9,460)
Cumulative effect adjustments	(10,552)	(26,135)
Ending Balance	(1,410,277)	25,874	(656,322)	(1,247,065)
Offset of net unrealized losses in AOCI due to impact those net unrealized losses would have on certain of the Company's insurance assets and liabilities had the net unrealized losses been recognized in net income	613,400	(6,300)	424,100	623,000
Accumulated Gain and Loss on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	747	727	0
Other comprehensive income (loss) before reclassifications	(1,884)	(563)	688
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	1,130	451	39
Cumulative effect adjustments	0	132
Ending Balance	(7)	747	727	0
Minimum Pension Benefits Liability Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(13,925)	1,072	5,931
Other comprehensive income (loss) before reclassifications	(3,546)	(15,726)	(5,659)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	1,989	501	800
Cumulative effect adjustments	0	228
Ending Balance	(15,482)	(13,925)	1,072	5,931
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	12,696	(654,523)	(1,241,134)
Other comprehensive income (loss) before reclassifications	(1,425,929)	691,009	597,240
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	(20,751)	391	(2,008)
Amounts reclassified from accumulated other comprehensive income (loss)	18,770	1,594	(8,621)
Cumulative effect adjustments	(10,552)	(25,775)
Ending Balance	$ (1,425,766)	$ 12,696	$ (654,523)	$ (1,241,134)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassifications out of accumulated other comprehensive income (loss)
Benefits and settlement expenses, net of reinsurance ceded									$ (3,515,869)	$ (2,957,270)	$ (2,880,435)
Realized investment gains (losses): All other investments									(223,649)	121,428	90,659
Net impairment losses recognized in earnings	$ (26,060)	$ (14)	$ (5)	$ (3,645)	$ (853)	$ (273)	$ (2,785)	$ (7,831)	(29,724)	(11,742)	(17,748)
Tax (expense) or benefit	(19,075)	(26,619)	(17,277)	(17,686)	778,218	(28,308)	(41,500)	(36,935)	(80,657)	671,475	(200,968)
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414	302,361	1,106,532	393,029
Derivative instruments | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications out of accumulated other comprehensive income (loss)
Benefits and settlement expenses, net of reinsurance ceded									(1,431)	(694)	(60)
Tax (expense) or benefit									301	243	21
Net income									(1,130)	(451)	(39)
Unrealized gains and losses on available-for-sale securities | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications out of accumulated other comprehensive income (loss)
Realized investment gains (losses): All other investments									9,912	10,611	32,302
Net impairment losses recognized in earnings									(29,724)	(11,742)	(17,748)
Tax (expense) or benefit									4,161	489	(5,094)
Net income									(15,651)	(642)	9,460
Pension benefits liability adjustment | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications out of accumulated other comprehensive income (loss)
Amortization of net actuarial gain/(loss)									(2,518)	(634)	(1,231)
Tax (expense) or benefit									529	133	431
Net income									$ (1,989)	$ (501)	$ (800)

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate and Components of Income Tax and Deferred Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective income tax rate related to continuing operations
Statutory federal income tax rate applied to pre-tax income	21.00%	35.00%	35.00%
State income taxes	4.90%	0.60%	0.80%
Investment income not subject to tax	(2.90%)	(5.00%)	(2.70%)
Prior period adjustments	(2.80%)	0.00%	0.00%
Federal Tax law changes	0.00%	(183.30%)	0.00%
Other	0.90%	(1.60%)	0.70%
Effective tax rate (as a percent)	21.10%	(154.30%)	33.80%
Current income tax expense:
Federal	$ 87,276	$ 21,853	$ (50,638)
State	8,285	4,399	3,919
Total current	95,561	26,252	(46,719)
Deferred income tax expense:
Federal	(30,629)	(693,860)	240,127
State	15,725	(3,867)	7,560
Total deferred	(14,904)	(697,727)	$ 247,687
Deferred income tax assets:
Loss and credit carryforwards	46,236	209,401
Deferred compensation	126,398	138,945
Deferred policy acquisition costs	116,044	23,876
Premium on corporate debt	46,154	57,402
Net unrealized loss on investments	374,905	0
Other	25,691	28,179
Valuation allowance	(5,079)	(3,951)
Deferred income tax assets	730,349	453,852
Deferred income tax liabilities:
Premium receivables and policy liabilities	408,502	573,469
VOBA and other intangibles	478,526	433,321
Invested assets (other than unrealized gains (losses))	682,637	672,549
Net unrealized gains on investments	0	6,920
Deferred income tax liabilities	1,569,665	1,686,259
Net deferred income tax liability	(839,316)	(1,232,407)
Provisional income tax benefit		797,600
Increase in income tax expense	10,700
State based operating loss carryforwards, valuation allowance	6,400	$ 5,000
Change in valuation allowance, before federal income taxes	1,400
State net operating loss carryforwards	19,700
2,036
Deferred income tax liabilities:
Net operating loss carryforwards	$ 135,400

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits
Balance, beginning of period	$ 11,353	$ 9,856	$ 13,138
Additions for tax positions of the current year	0	1,857	2,122
Additions for tax positions of prior years	0	70	1,318
Reductions of tax positions of prior years:
Changes in judgment	(4,219)	(430)	(975)
Settlements during the period	0	0	(5,747)
Lapses of applicable statute of limitations	0	0	0
Balance, end of period	7,134	11,353	9,856
Unrecognized tax benefits with certainty of deductibility but with uncertainty about the timing of deductions	0	700	700
Amount of unrecognized tax benefits that would affect the effective income tax rate if recognized	7,100	10,700	9,200
Accrued interest related to the unrecognized tax benefits included in income tax expense (benefit)	40	(2,400)	(3,100)
Accrued interest associated with unrecognized tax benefits	300	$ (1,100)	$ 2,800
Net refund in future period	6,200
Decrease in unrecognized tax benefits	$ 0

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash paid / (received) during the year:
Interest on debt	$ 260,241	$ 253,708	$ 234,928
Income taxes	(26,856)	$ (14,163)	$ 112,886
Debt Securities
Cash paid / (received) during the year:
Interest on debt	56,700
Subordinated debentures
Cash paid / (received) during the year:
Interest on debt	29,300
Repurchase Agreements
Cash paid / (received) during the year:
Interest on debt	9,300
Other Obligations Nonrecourse Funding Obligations and Other Borrowings
Cash paid / (received) during the year:
Interest on debt	$ 164,900

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Certain corporations with which the Company's directors were affiliated
Related party transactions
Premiums and policy fees or other amounts for insurance and investment products, interest on bonds and commissions on securities underwriting	$ 6.8	$ 6.8	$ 7.2
Commission, interest on debt and investment products and fees	2.3	2.4	$ 2.7
Dai-ichi Life
Related party transactions
Dividends paid to parent company	140	143.8
PLICO
Related party transactions
Guarantee of synthetic lease financing	75
Payment of Management Fee | Dai-ichi Life
Related party transactions
Management fee	$ 12.2	$ 10.9

STATUTORY REPORTING PRACTICES_3

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2019
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Net assets of the company's insurance subsidiaries that are restricted from transfer (in dollars)	$ 5,300
Fair value of fixed maturity and short-term investments of the company's subsidiaries deposited with regulatory authorities	40.8
Favorable (unfavorable) effects on the statutory surplus of the Company's insurance subsidiaries, compared to NAIC statutory surplus, from the use of prescribed and permitted practices
Accounting for Letters of Credit as admitted assets	1,630	$ 1,670
Accounting for certain notes as admitted assets	2,553	2,634
Reserving based on state specific actuarial practices	121	122
Reserving difference related to a captive insurance company	(50)	(37)
PLICO
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Statutory net income	321.1	731.2	$ (391.6)
Statutory capital and surplus	4,300	4,300
Gain on retrocession			$ 1,200
Favorable (unfavorable) effects of PLICO's statutory surplus, compared to NAIC statutory surplus, from the use of prescribed and permitted practices
Non-admission of goodwill	(181)	(219)
Total (net)	$ (181)	$ (219)
Scenario, Forecast
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Estimated Ordinary Dividend from Insurance Subsidiaries, Maximum				$ 434

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summarized financial information for the company's segments
Revenues	$ 1,284,046	$ 1,347,168	$ 1,243,908	$ 1,165,832	$ 1,142,040	$ 1,084,388	$ 1,087,067	$ 1,105,297	$ 5,040,954	$ 4,418,792	$ 4,483,947
Pre-tax Adjusted Operating Income (Loss)									478,535	506,892	503,369
Realized gains (losses) on investments and derivatives									(95,517)	(71,835)	90,628
Income before income tax	55,729	136,719	98,772	91,798	86,090	110,850	125,768	112,349	383,018	435,057	593,997
Income tax expense (benefit)	(19,075)	(26,619)	(17,277)	(17,686)	778,218	(28,308)	(41,500)	(36,935)	(80,657)	671,475	(200,968)
Net income	36,654	110,100	81,495	74,112	864,308	82,542	84,268	75,414	302,361	1,106,532	393,029
Adjusted operating income tax (expense) benefit									(100,716)	646,333	(169,247)
After-tax adjusted operating income									377,819	1,153,225	334,122
Income tax benefit (expense) on adjustments									20,059	25,142	(31,721)
Realized investment (losses) gains:
Derivative financial instruments									60,988	(305,828)	(40,288)
Realized gains (losses) on investments and derivatives									(223,649)	121,428	90,659
Net impairment losses recognized in earnings	(26,060)	(14)	(5)	(3,645)	(853)	(273)	(2,785)	(7,831)	(29,724)	(11,742)	(17,748)
Less: related amortization									(11,856)	(39,480)	24,360
Less: VA GLWB economic cost									(85,012)	(84,827)	(82,365)
Net investment income	674,286	$ 672,139	$ 616,462	$ 520,863	529,490	$ 507,914	$ 507,771	$ 506,413	2,483,750	2,051,588	1,942,456
Amortization of deferred policy acquisition costs and value of business acquired									225,808	78,221	149,064
Operating Segment Assets
Investments and other assets	85,476,658				75,973,148				85,476,658	75,973,148
Deferred policy acquisition costs and value of business acquired	3,023,154				2,199,577				3,023,154	2,199,577	2,019,829
Other intangibles	613,431				663,572				613,431	663,572
Goodwill	825,511				793,470				825,511	793,470
Total assets	89,938,754				79,629,767				89,938,754	79,629,767
Life Marketing
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									116,917	120,753	130,708
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	1,499,386				1,320,776				1,499,386	1,320,776	1,218,944
Acquisitions
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									18,690	(6,939)	8,178
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	458,976				74,862				458,976	74,862	106,532
Annuities
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									24,274	(54,471)	(11,031)
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	889,697				772,633				889,697	772,633	655,618
Stable Value Products
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									3,201	2,354	1,176
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	6,121				6,864				6,121	6,864	5,455
Asset Protection
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									62,726	16,524	20,033
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	168,974				24,442				168,974	24,442	33,280
Corporate and Other
Realized investment (losses) gains:
Amortization of deferred policy acquisition costs and value of business acquired									0	0	0
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	0				0				0	0	0
Operating
Summarized financial information for the company's segments
Revenues									5,040,954	4,418,792	4,483,947
Pre-tax Adjusted Operating Income (Loss)									478,535	506,892	503,369
Realized investment (losses) gains:
Net investment income									2,483,750	2,051,588	1,942,456
Amortization of deferred policy acquisition costs and value of business acquired									225,808	78,221	149,064
Operating | Life Marketing
Summarized financial information for the company's segments
Revenues									1,689,795	1,667,118	1,627,848
Pre-tax Adjusted Operating Income (Loss)									(19,376)	50,778	39,745
Realized investment (losses) gains:
Net investment income									551,781	553,999	525,495
Amortization of deferred policy acquisition costs and value of business acquired									116,917	120,753	130,708
Operating Segment Assets
Investments and other assets	14,575,702				14,914,418				14,575,702	14,914,418
Deferred policy acquisition costs and value of business acquired	1,499,386				1,320,776				1,499,386	1,320,776
Other intangibles	262,758				282,361				262,758	282,361
Goodwill	215,254				200,274				215,254	200,274
Total assets	16,553,100				16,717,829				16,553,100	16,717,829
Operating | Acquisitions
Summarized financial information for the company's segments
Revenues									2,027,195	1,569,083	1,676,017
Pre-tax Adjusted Operating Income (Loss)									282,715	249,749	260,511
Realized investment (losses) gains:
Net investment income									1,108,218	752,520	764,571
Amortization of deferred policy acquisition costs and value of business acquired									18,690	(6,939)	8,178
Operating Segment Assets
Investments and other assets	31,859,520				19,588,133				31,859,520	19,588,133
Deferred policy acquisition costs and value of business acquired	458,977				74,862				458,977	74,862
Other intangibles	31,975				34,548				31,975	34,548
Goodwill	23,862				14,524				23,862	14,524
Total assets	32,374,334				19,712,067				32,374,334	19,712,067
Operating | Annuities
Summarized financial information for the company's segments
Revenues									545,922	450,306	574,934
Pre-tax Adjusted Operating Income (Loss)									167,186	213,080	213,293
Realized investment (losses) gains:
Net investment income									340,685	321,844	322,608
Amortization of deferred policy acquisition costs and value of business acquired									24,274	(54,471)	(11,031)
Operating Segment Assets
Investments and other assets	20,199,597				20,938,409				20,199,597	20,938,409
Deferred policy acquisition costs and value of business acquired	889,697				772,634				889,697	772,634
Other intangibles	156,785				170,117				156,785	170,117
Goodwill	343,247				336,677				343,247	336,677
Total assets	21,589,326				22,217,837				21,589,326	22,217,837
Operating | Stable Value Products
Summarized financial information for the company's segments
Revenues									219,501	190,006	114,580
Pre-tax Adjusted Operating Income (Loss)									102,328	105,261	61,294
Realized investment (losses) gains:
Net investment income									217,778	186,576	107,010
Amortization of deferred policy acquisition costs and value of business acquired									3,201	2,354	1,176
Operating Segment Assets
Investments and other assets	5,107,334				4,569,639				5,107,334	4,569,639
Deferred policy acquisition costs and value of business acquired	6,121				6,864				6,121	6,864
Other intangibles	7,389				8,056				7,389	8,056
Goodwill	113,924				113,813				113,924	113,813
Total assets	5,234,768				4,698,372				5,234,768	4,698,372
Operating | Asset Protection
Summarized financial information for the company's segments
Revenues									310,243	327,573	269,145
Pre-tax Adjusted Operating Income (Loss)									29,911	24,356	16,487
Realized investment (losses) gains:
Net investment income									30,457	27,325	22,082
Amortization of deferred policy acquisition costs and value of business acquired									62,726	16,524	20,033
Operating Segment Assets
Investments and other assets	1,019,297				918,952				1,019,297	918,952
Deferred policy acquisition costs and value of business acquired	168,973				24,441				168,973	24,441
Other intangibles	122,590				133,234				122,590	133,234
Goodwill	129,224				128,182				129,224	128,182
Total assets	1,440,084				1,204,809				1,440,084	1,204,809
Operating | Corporate and Other
Summarized financial information for the company's segments
Revenues									248,298	214,706	221,423
Pre-tax Adjusted Operating Income (Loss)									(84,229)	(136,332)	(87,961)
Realized investment (losses) gains:
Net investment income									234,831	209,324	200,690
Amortization of deferred policy acquisition costs and value of business acquired									0	0	$ 0
Operating Segment Assets
Investments and other assets	12,715,208				15,043,597				12,715,208	15,043,597
Deferred policy acquisition costs and value of business acquired	0				0				0	0
Other intangibles	31,934				35,256				31,934	35,256
Goodwill	0				0				0	0
Total assets	$ 12,747,142				$ 15,078,853				$ 12,747,142	$ 15,078,853

CONSOLIDATED QUARTERLY RESULT_3

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Premiums and policy fees	$ 971,629	$ 878,182	$ 941,868	$ 889,166	$ 893,606	$ 855,088	$ 868,139	$ 860,586	$ 3,680,845	$ 3,477,419	$ 3,407,931
Reinsurance ceded	(379,242)	(269,335)	(390,941)	(345,423)	(376,641)	(325,120)	(342,898)	(316,076)	(1,384,941)	(1,360,735)	(1,314,716)
Net of reinsurance ceded	592,387	608,847	550,927	543,743	516,965	529,968	525,241	544,510	2,295,904	2,116,684	2,093,215
Net investment income	674,286	672,139	616,462	520,863	529,490	507,914	507,771	506,413	2,483,750	2,051,588	1,942,456
Realized investment gains (losses)	(68,450)	(47,334)	(37,337)	(9,540)	(18,701)	(64,191)	(54,471)	(47,037)	(192,385)	(196,142)	32,623
Net impairment losses recognized in earnings	26,060	14	5	3,645	853	273	2,785	7,831	29,724	11,742	17,748
Other income	111,883	113,530	113,861	114,411	115,139	110,970	111,311	109,242	453,685	446,662	415,653
Total revenues	1,284,046	1,347,168	1,243,908	1,165,832	1,142,040	1,084,388	1,087,067	1,105,297	5,040,954	4,418,792	4,483,947
Total benefits and expenses	1,228,317	1,210,449	1,145,136	1,074,034	1,055,950	973,538	961,299	992,948	4,657,936	3,983,735	3,889,950
Income before income tax	55,729	136,719	98,772	91,798	86,090	110,850	125,768	112,349	383,018	435,057	593,997
Income tax expense (benefit)	19,075	26,619	17,277	17,686	(778,218)	28,308	41,500	36,935	80,657	(671,475)	200,968
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414	$ 302,361	$ 1,106,532	$ 393,029

SCHEDULE II - CONDENSED FINAN_2

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Net investment income	$ 674,286	$ 672,139	$ 616,462	$ 520,863	$ 529,490	$ 507,914	$ 507,771	$ 506,413		$ 2,483,750	$ 2,051,588	$ 1,942,456
Realized investment gains (losses)	(68,450)	(47,334)	(37,337)	(9,540)	(18,701)	(64,191)	(54,471)	(47,037)		(192,385)	(196,142)	32,623
Other income	111,883	113,530	113,861	114,411	115,139	110,970	111,311	109,242		453,685	446,662	415,653
Total revenues	1,284,046	1,347,168	1,243,908	1,165,832	1,142,040	1,084,388	1,087,067	1,105,297		5,040,954	4,418,792	4,483,947
Expenses
Total benefits and expenses	1,228,317	1,210,449	1,145,136	1,074,034	1,055,950	973,538	961,299	992,948		4,657,936	3,983,735	3,889,950
Income before income tax	55,729	136,719	98,772	91,798	86,090	110,850	125,768	112,349		383,018	435,057	593,997
Income tax (benefit) expense
Current										95,561	26,252	(46,719)
Deferred										(14,904)	(697,727)	247,687
Total income tax expense (benefit)	19,075	26,619	17,277	17,686	(778,218)	28,308	41,500	36,935		80,657	(671,475)	200,968
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414		302,361	1,106,532	393,029
PROTECTIVE LIFE CORPORATION
Revenues
Dividends from subsidiaries										31,600	261,090	541,762
Service fees from subsidiaries										250,241	285,979	250,668
Net investment income										8,417	9,457	8,607
Realized investment gains (losses)									$ (29,289)	468	(45,091)	(29,289)
Other income										2,211	2,049	9,828
Total revenues										292,937	513,484	781,576
Expenses
Operating and administrative										123,004	182,525	143,941
Interest										63,878	61,263	60,137
Total benefits and expenses										186,882	243,788	204,078
Income before income tax										106,055	269,696	577,498
Income tax (benefit) expense
Current										(30,854)	(9,441)	334
Deferred										45,082	46,020	20,715
Total income tax expense (benefit)										14,228	36,579	21,049
Income before equity in undistributed income from subsidiaries										91,827	233,117	556,449
Equity (loss) in undistributed income of subsidiaries									(163,420)	210,534	873,415	(163,420)
Net income									$ 393,029	$ 302,361	$ 1,106,532	$ 393,029

SCHEDULE II - CONDENSED FINAN_3

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Statements Of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Statement of Income Captions [Line Items]
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414		$ 302,361	$ 1,106,532	$ 393,029
Total other comprehensive income (loss)										(1,427,910)	692,994	586,611
Total comprehensive income (loss)										(1,125,549)	1,799,526	979,640
PROTECTIVE LIFE CORPORATION
Condensed Statement of Income Captions [Line Items]
Net income									$ 393,029	302,361	1,106,532	393,029
Total other comprehensive income (loss)										(1,427,910)	692,994	586,611
Total comprehensive income (loss)										$ (1,125,549)	$ 1,799,526	$ 979,640

SCHEDULE II - CONDENSED FINAN_4

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 31, 2015
Assets
Fixed maturities	$ 51,904,699	$ 41,176,052
Equity securities	595,884	754,360
Other long-term investments	759,354	915,595
Total investments	66,128,129	54,621,814
Cash	173,714	252,310	$ 348,182	$ 396,072
Property and equipment, net	184,957	111,417
Income tax receivable	0	76,543
Deferred income tax	730,349	453,852
Other assets	250,036	227,357
Total assets	89,938,754	79,629,767
Liabilities
Income tax payable	38,547	0
Debt	1,101,827	945,052
Subordinated debt	605,426	495,289
Total liabilities	84,171,020	72,502,568
Commitments and contingencies—Note 3
Shareowners' equity
Common stock	0	0
Additional paid-in-capital	5,554,059	5,554,059
Retained earnings, including undistributed income of subsidiaries: (2018 - $1,102,394; 2017 - $891,860)	1,639,441	1,560,444
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net unrealized gains on investments, all from subsidiaries, net of income tax: (2018 - $(368,830); 2017 - $7,416)	(1,387,504)	27,896
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(6,054); 2017 - $(538))	(22,773)	(2,022)
Accumulated gain (loss)—derivatives, net of income tax: (2018 - $(2);2017 - $198)	(7)	747
Postretirement benefits liability adjustment, net of income tax: (2018 - $(4,112); 2017 - $(3,469))	(15,482)	(13,925)
Total shareowner’s equity	5,767,734	7,127,199	5,471,521	$ 4,581,224
Total liabilities and shareowner’s equity	89,938,754	79,629,767
PROTECTIVE LIFE CORPORATION
Assets
Fixed maturities	241,862	140,102
Equity securities	38,176	38,861
Other long-term investments	10	10
Short-term investments	115,625	79,818
Investments in subsidiaries (equity method)	7,289,812	8,563,201
Total investments	7,685,485	8,821,992
Cash	5,982	3,760	$ 78,936		$ 68,615
Receivables from subsidiaries	24,909	38,394
Property and equipment, net	1,105	1,692
Income tax receivable	0	513
Deferred income tax	30,050	103,716
Other assets	38,134	38,487
Total assets	7,785,665	9,008,554
Liabilities
Accrued expenses and other liabilities	411,963	442,696
Income tax payable	10,034	0
Debt	1,100,508	943,370
Subordinated debt	495,426	495,289
Total liabilities	2,017,931	1,881,355
Commitments and contingencies—Note 3
Shareowners' equity
Common stock	0	0
Additional paid-in-capital	5,554,059	5,554,059
Retained earnings, including undistributed income of subsidiaries: (2018 - $1,102,394; 2017 - $891,860)	1,639,441	1,560,444
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net unrealized gains on investments, all from subsidiaries, net of income tax: (2018 - $(368,830); 2017 - $7,416)	(1,387,504)	27,896
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2018 - $(6,054); 2017 - $(538))	(22,773)	(2,022)
Accumulated gain (loss)—derivatives, net of income tax: (2018 - $(2);2017 - $198)	(7)	747
Postretirement benefits liability adjustment, net of income tax: (2018 - $(4,112); 2017 - $(3,469))	(15,482)	(13,925)
Total shareowner’s equity	5,767,734	7,127,199
Total liabilities and shareowner’s equity	$ 7,785,665	$ 9,008,554

SCHEDULE II - CONDENSED FINAN_5

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Balance Sheets Parenthetical (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Information of Registrant
Net unrealized gains (losses) on investments, income tax	$ (368,830)	$ 7,416
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(6,054)	(538)
Accumulated gain (loss) - derivatives, income tax	(2)	198
Postretirement benefits liability adjustment, income tax	(4,112)	(3,469)
PROTECTIVE LIFE CORPORATION
Condensed Financial Information of Registrant
Undistributed income of subsidiaries	1,102,394	891,860
Net unrealized gains (losses) on investments, income tax	(368,830)	7,416
Net unrealized losses relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	(6,054)	(538)
Accumulated gain (loss) - derivatives, income tax	(2)	198
Postretirement benefits liability adjustment, income tax	$ (4,112)	$ (3,469)

SCHEDULE II - CONDENSED FINAN_6

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income	$ 36,654	$ 110,100	$ 81,495	$ 74,112	$ 864,308	$ 82,542	$ 84,268	$ 75,414		$ 302,361	$ 1,106,532	$ 393,029
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment (gains) losses	68,450	$ 47,334	$ 37,337	9,540	18,701	$ 64,191	$ 54,471	47,037		192,385	196,142	(32,623)
Deferred income tax										(14,904)	(697,727)	247,687
Accrued income tax										115,090	40,280	(162,619)
Other, net										(48,444)	(101,784)	(81,091)
Net cash (used in) provided by operating activities										(144,129)	195,272	249,638
Cash flows from investing activities
Sale of investments, available-for-sale										2,576,119	1,802,215	1,956,302
Cost of investments acquired, available-for-sale										(5,577,921)	(4,029,233)	(4,982,907)
Change in other long-term investments										(168,897)	(91,518)	(250,557)
Change in short-term investments										(217,300)	(279,191)	(72,810)
Purchase of property and equipment										(92,269)	(37,533)	(5,295)
Net cash used in investing activities										(1,947,894)	(2,624,770)	(4,366,985)
Cash flows from financing activities
Borrowings under line of credit arrangements and debt										1,075,000	1,035,000	265,000
Principal payments on line of credit arrangement and debt										(757,884)	(1,156,498)	(633,074)
Dividends to shareowner										(140,000)	(143,848)	(89,343)
Net cash provided by financing activities										2,013,427	2,333,626	4,069,457
Change in cash										(78,596)	(95,872)	(47,890)
Cash at beginning of period				252,310				348,182		252,310	348,182	396,072
Cash at end of period	173,714				252,310				$ 396,072	173,714	252,310	348,182
PROTECTIVE LIFE CORPORATION
Cash flows from operating activities
Net income									393,029	302,361	1,106,532	393,029
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment (gains) losses									29,289	(468)	45,091	29,289
Equity in undistributed net income of subsidiaries									163,420	(210,534)	(873,415)	163,420
Depreciation expense									506	587	739
Receivables from subsidiaries									15,181	13,485	(28,794)
Income tax receivable									2,109	513	10,548
Deferred income tax									20,715	45,082	46,020
Accrued income tax									0	10,034	0
Accrued expenses and other liabilities									(33,639)	(28,209)	(52,846)
Other, net									(16,426)	(57,595)	4,226
Net cash (used in) provided by operating activities									574,184	75,256	258,101
Cash flows from investing activities
Sale of investments, available-for-sale									0	675,000	0
Cost of investments acquired, available-for-sale									(59,025)	(776,743)	(26,423)
Return of and/or (additional) capital investments in subsidiaries									(45,762)	(2,600)	38,410
Change in other long-term investments									(10)	0	0
Change in short-term investments									0	(35,807)	(79,818)
Purchase of property and equipment									(1,649)	0	0
Sales of property and equipment									0	0	(100)
Net cash used in investing activities									(106,446)	(140,150)	(67,931)
Cash flows from financing activities
Borrowings under line of credit arrangements and debt									265,000	965,000	1,035,000
Principal payments on line of credit arrangement and debt									(633,074)	(757,884)	(1,156,498)
Dividends to shareowner									(89,343)	(140,000)	(143,848)
Net cash provided by financing activities									(457,417)	67,116	(265,346)
Change in cash									10,321	2,222	(75,176)
Cash at beginning of period				$ 3,760				$ 78,936	$ 68,615	3,760	78,936
Cash at end of period	$ 5,982				$ 3,760					$ 5,982	$ 3,760	$ 78,936

SCHEDULE II - CONDENSED FINAN_7

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Debt and Other Obligations (Details) - USD ($)	May 03, 2018	Dec. 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 10, 2017
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 991,363,000	$ 784,610,000
Total debt			1,101,827,000	945,052,000
Total subordinated debt securities			605,426,000	495,289,000
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Debt maturities due in 2019			416,500,000
Debt maturities due thereafter			684,000,000
Interest Expense
Interest expense			66,500,000	61,300,000	$ 62,100,000
6.40% Senior Notes (2007), due 2018
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			0	150,000,000
Total debt			$ 0	150,518,000
Stated interest rate (as a percent)			6.40%
7.375% Senior Notes (2009), due 2019
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 400,000,000	400,000,000
Total debt			$ 416,469,000	435,806,000
Stated interest rate (as a percent)			7.375%
8.45% Senior Notes (2009), due 2039
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 190,044,000	232,928,000
Total debt			$ 288,547,000	357,046,000
Stated interest rate (as a percent)			8.45%
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Redemption of subordinated debt			$ 65,600,000
Par value of extinguished debt			42,900,000
Pre-tax gain on extinguishment			1,800,000
4.30% Senior Notes (2018), due 2028
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			400,000,000
Total debt			$ 395,492,000	0
Stated interest rate (as a percent)			4.30%
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Discount on notes			$ 1,000,000
Debt issuance costs			$ 3,700,000
5.35% Subordinated Debentures (2017), due 2052
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)			5.35%
6.00% Subordinated Debentures, due 2042
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)			6.00%
6.25% Subordinated Debentures (2012), due 2042, callable 2017
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)			6.25%
2015 Credit Facility
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity			$ 1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request			$ 1,250,000,000
Facility fee percentage			0.125%
2015 Credit Facility | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)			0.50%
2015 Credit Facility | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)			1.00%
2015 Credit Facility as amended
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity			$ 1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	$ 1,500,000,000
Facility fee percentage			0.125%
2015 Credit Facility as amended | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)			0.50%
2015 Credit Facility as amended | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)			1.00%
PROTECTIVE LIFE CORPORATION
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 990,044,000	782,928,000
Total debt			1,100,508,000	943,370,000
Total subordinated debt securities			495,426,000	495,289,000
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Debt maturities due in 2019			416,500,000
Debt maturities due thereafter			684,000,000
PROTECTIVE LIFE CORPORATION | 6.40% Senior Notes (2007), due 2018
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			0	150,000,000
Total debt			$ 0	150,518,000
Stated interest rate (as a percent)			6.40%
PROTECTIVE LIFE CORPORATION | 7.375% Senior Notes (2009), due 2019
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 400,000,000	400,000,000
Total debt			$ 416,469,000	435,806,000
Stated interest rate (as a percent)			7.375%
PROTECTIVE LIFE CORPORATION | 8.45% Senior Notes (2009), due 2039
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			$ 190,044,000	232,928,000
Total debt			$ 288,547,000	357,046,000
Stated interest rate (as a percent)			8.45%
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Redemption of subordinated debt			$ 65,600,000
Par value of extinguished debt			42,900,000
Pre-tax gain on extinguishment			1,800,000
PROTECTIVE LIFE CORPORATION | 4.30% Senior Notes (2018), due 2028
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			400,000,000
Total debt			$ 395,492,000	0
Stated interest rate (as a percent)			4.30%
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Discount on notes			$ 1,000,000
PROTECTIVE LIFE CORPORATION | 5.35% Subordinated Debentures (2017), due 2052
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)			5.35%
PROTECTIVE LIFE CORPORATION | 6.00% Subordinated Debentures, due 2042
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)						6.00%
PROTECTIVE LIFE CORPORATION | 6.25% Subordinated Debentures (2012), due 2042, callable 2017
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)						6.25%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity	1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	$ 1,250,000,000
Facility fee percentage	0.125%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	0.50%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	1.00%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility as amended
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Line of credit, maximum borrowing capacity	$ 1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	$ 1,500,000,000
Facility fee percentage	0.125%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility as amended | Federal Funds Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	0.50%
PROTECTIVE LIFE CORPORATION | 2015 Credit Facility as amended | LIBOR One-Month Rate
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Interest rate added to the base rate (as a percent)	1.00%
PROTECTIVE LIFE CORPORATION | Long-term debt and subordinated debt securities
Interest Expense
Interest expense		$ 60,100,000	$ 63,900,000	61,300,000
Credit Facility | PROTECTIVE LIFE CORPORATION
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			0	0
Total debt			0	0
Subordinated debentures
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			610,000,000	500,000,000
Total subordinated debt securities			605,426,000	495,289,000
Subordinated debentures | 5.35% Subordinated Debentures (2017), due 2052
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			500,000,000	500,000,000
Total subordinated debt securities			495,426,000	495,289,000
Subordinated debentures | PROTECTIVE LIFE CORPORATION
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			500,000,000	500,000,000
Total subordinated debt securities			495,426,000	495,289,000
Subordinated debentures | PROTECTIVE LIFE CORPORATION | 4.30% Senior Notes (2018), due 2028
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Debt issuance costs			3,700,000
Subordinated debentures | PROTECTIVE LIFE CORPORATION | 5.35% Subordinated Debentures (2017), due 2052
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal			500,000,000	500,000,000
Total subordinated debt securities			495,426,000	495,289,000
Future maturities of debt, excluding notes payable to banks, and subordinated debt securities, for the next five years
Debt issuance costs			$ 4,800,000
Subordinated debentures | PROTECTIVE LIFE CORPORATION | 6.00% Subordinated Debentures, due 2042
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal				150,000,000
Subordinated debentures | PROTECTIVE LIFE CORPORATION | 6.25% Subordinated Debentures (2012), due 2042, callable 2017
Condensed Financial Statements, Captions [Line Items]
Outstanding Principal				$ 287,500,000

SCHEDULE II - CONDENSED FINAN_8

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Commitments and Contingencies (Details)	Jan. 15, 2016USD ($)	Oct. 10, 2012USD ($)	Dec. 31, 2018USD ($)installment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2013USD ($)	Dec. 10, 2010USD ($)
Commitments and contingencies
Non-recourse funding obligations			$ 2,632,497,000	$ 2,747,477,000
Outstanding Principal			2,574,691,000	2,693,691,000
Non-recourse funding obligations held by affiliates			554,400,000
Amount collateralized			495,307,000	1,017,749,000
Outstanding nonrecourse funding obligations repurchased at discount			0
Financing Agreement With Golden Gate And Syndicate ff Risk Takers
Commitments and contingencies
Term of debt	18 years
Financing capacity under the agreement	$ 2,188,000,000
Building contiguous to home office
Commitments and contingencies
Approximate price for which the company may purchase building at the end of lease term							$ 75,000,000
PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Non-recourse funding obligations held by affiliates			554,400,000
Outstanding nonrecourse funding obligations repurchased at discount			38,000,000
PROTECTIVE LIFE CORPORATION | Financing Agreement With Golden Gate And Syndicate ff Risk Takers
Commitments and contingencies
Term of debt	18 years
Financing capacity under the agreement	$ 2,188,000,000
PROTECTIVE LIFE CORPORATION | Building contiguous to home office
Commitments and contingencies
Approximate price for which the company may purchase building at the end of lease term							$ 75,000,000
Golden Gate
Commitments and contingencies
Non-recourse funding obligations			$ 1,883,000,000
Stated interest rate (as a percent)			4.75%
Golden Gate Captive Insurance Company
Commitments and contingencies
Non-recourse funding obligations			$ 1,883,000,000	$ 2,014,000,000
Fixed annual rate			4.75%	4.75%
Outstanding Principal			$ 1,883,000,000	$ 2,014,000,000
Golden Gate Captive Insurance Company | PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Non-recourse funding obligations			$ 1,883,000,000
Fixed annual rate			4.75%
Golden Gate II
Commitments and contingencies
Non-recourse funding obligations			$ 17,703,000	$ 49,787,000
Fixed annual rate			4.99%	3.88%
Outstanding non-recourse funding obligations			$ 575,000,000
Outstanding Principal			20,600,000	$ 58,600,000
Amount collateralized			4,900,000
Golden Gate II | PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Outstanding non-recourse funding obligations			575,000,000
Outstanding Principal			20,600,000
Expected payments under support agreement obligation			600,000
Amount collateralized			4,900,000
Golden Gate V and Red Mountain | PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Term of transaction		20 years
Maximum financing capacity under transaction		$ 945,000,000
Red Mountain LLC
Commitments and contingencies
Principal amount of note issued		275,000,000	670,000,000
Red Mountain LLC | PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Maximum financing capacity under transaction		945,000,000
Principal amount of note issued		$ 275,000,000	670,000,000
Golden Gate V
Commitments and contingencies
Non-recourse funding obligations			$ 729,454,000	$ 681,285,000
Fixed annual rate			5.12%	5.12%
Outstanding Principal			$ 670,000,000	$ 620,000,000
Future scheduled capital contributions			114,600,000
Maximum financing capacity under transaction			945,000,000
Principal amount of note issued			$ 670,000,000
Stated interest rate (as a percent)			6.25%
Golden Gate V | PROTECTIVE LIFE CORPORATION
Commitments and contingencies
Expected payments under support agreement obligation			$ 0
Future scheduled capital contributions			114,600,000
Maximum financing capacity under transaction			$ 945,000,000
Stated interest rate (as a percent)			6.25%
Surplus notes | Golden Gate | Steel City Notes
Commitments and contingencies
Amount of debt issued	2,188,000,000		$ 1,883,000,000
Surplus notes | Golden Gate | PROTECTIVE LIFE CORPORATION | Steel City Notes
Commitments and contingencies
Amount of debt issued	2,188,000,000		1,883,000,000
Surplus notes | Steel City LLC | Golden Gate Surplus Notes
Commitments and contingencies
Amount of debt issued	2,188,000,000
Surplus notes | Steel City LLC | PROTECTIVE LIFE CORPORATION | Golden Gate Surplus Notes
Commitments and contingencies
Amount of debt issued	$ 2,188,000,000
Letter of Credit | Golden Gate III | Third Amended and Restated Reimbursement Agreement
Commitments and contingencies
Maximum amount up to which LOC will be periodically increased						$ 935,000,000
Outstanding letters of credit (LOC)			$ 860,000,000
Letter of credit term			15 years
Future scheduled capital contributions			$ 70,000,000
Letter of Credit | Golden Gate III | PROTECTIVE LIFE CORPORATION | Third Amended and Restated Reimbursement Agreement
Commitments and contingencies
Maximum amount up to which LOC will be periodically increased						$ 935,000,000
Outstanding letters of credit (LOC)			$ 860,000,000
Letter of credit term			15 years
Future scheduled capital contributions			$ 70,000,000
Number of installments for future scheduled capital contributions | installment			2
Letter of Credit | Golden Gate III | PROTECTIVE LIFE CORPORATION | Reimbursement Agreement
Commitments and contingencies
Expected payments under support agreement obligation			$ 0
Letter of Credit | Golden Gate IV | Reimbursement Agreement
Commitments and contingencies
Maximum amount up to which LOC will be periodically increased				$ 790,000,000
Outstanding letters of credit (LOC)			$ 770,000,000
Letter of credit term			12 years
Maximum borrowing capacity								$ 270,000,000
Letter of Credit | Golden Gate IV | PROTECTIVE LIFE CORPORATION | Third Amended and Restated Reimbursement Agreement
Commitments and contingencies
Outstanding letters of credit (LOC)			$ 770,000,000
Letter of Credit | Golden Gate IV | PROTECTIVE LIFE CORPORATION | Reimbursement Agreement
Commitments and contingencies
Expected payments under support agreement obligation			$ 0
Letter of credit term			12 years
Maximum borrowing capacity					$ 790,000,000			$ 270,000,000

SCHEDULE II - CONDENSED FINAN_9

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Shareowners' Equity (Details)	Feb. 01, 2015
Protective Life Corporation | Dai-ichi Life
Condensed Financial Statements, Captions [Line Items]
Percent of outstanding shares acquired	100.00%

SCHEDULE II - CONDENSED FINA_10

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash paid during the year for:
Income taxes (reduced by amounts received from affiliates under a tax sharing agreement)	$ (26,856)	$ (14,163)	$ 112,886
PROTECTIVE LIFE CORPORATION
Cash paid during the year for:
Interest paid on debt	83,439	78,944	95,095
Income taxes (reduced by amounts received from affiliates under a tax sharing agreement)	$ (40,986)	$ (23,110)	$ (2,596)

SCHEDULE II - CONDENSED FINA_11

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Derivative Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest rate floor and reinsurance rate cap agreements
Combined liability for interest rate floor and reinsurance rate cap agreements	$ 90	$ 91.6
Unrealized gains (losses) on interest rate floor and reinsurance rate cap agreements	$ 1.5	$ (42.7)
Predecessor
Interest rate floor and reinsurance rate cap agreements
Unrealized gains (losses) on interest rate floor and reinsurance rate cap agreements			$ (29.3)

SCHEDULE III - SUPPLEMENTARY _2

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	$ 3,023,154				$ 2,199,577				$ 3,023,154	$ 2,199,577	$ 2,019,829
Future Policy Benefits and Claims	41,901,552				30,957,592				41,901,552	30,957,592	30,511,085
Unearned Premiums	872,594				875,405				872,594	875,405	848,495
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	20,083,191				16,886,759				20,083,191	16,886,759	15,309,500
Net Premiums and Policy Fees	592,387	$ 608,847	$ 550,927	$ 543,743	516,965	$ 529,968	$ 525,241	$ 544,510	2,295,904	2,116,684	2,093,215
Net Investment Income									2,483,750	2,051,588	1,942,456
Benefits and Settlement Expenses									3,515,869	2,957,270	2,880,435
Amortization of deferred policy acquisition costs and value of business acquired									225,808	78,221	149,064
Other Operating Expenses									916,258	948,244	860,451
Premiums Written									161,624	176,900	154,450
Life Marketing
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	1,499,386				1,320,776				1,499,386	1,320,776	1,218,944
Future Policy Benefits and Claims	15,318,019				15,438,739				15,318,019	15,438,739	14,595,370
Unearned Premiums	98				107				98	107	119
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	422,037				424,204				422,037	424,204	426,422
Net Premiums and Policy Fees									1,043,228	1,011,911	972,247
Net Investment Income									551,781	553,999	525,495
Benefits and Settlement Expenses									1,412,001	1,319,138	1,267,844
Amortization of deferred policy acquisition costs and value of business acquired									116,917	120,753	130,708
Other Operating Expenses									197,346	178,792	177,498
Premiums Written									92	111	122
Acquisitions
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	458,976				74,862				458,976	74,862	106,532
Future Policy Benefits and Claims	25,427,730				14,323,713				25,427,730	14,323,713	14,693,744
Unearned Premiums	2,206				2,423				2,206	2,423	2,734
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	6,018,954				4,377,020				6,018,954	4,377,020	4,247,081
Net Premiums and Policy Fees									952,315	785,188	832,083
Net Investment Income									1,108,218	752,520	764,571
Benefits and Settlement Expenses									1,636,697	1,204,084	1,232,141
Amortization of deferred policy acquisition costs and value of business acquired									18,690	(6,939)	8,178
Other Operating Expenses									143,698	110,607	118,056
Premiums Written									13,750	15,964	18,818
Annuities
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	889,697				772,633				889,697	772,633	655,618
Future Policy Benefits and Claims	1,050,161				1,080,629				1,050,161	1,080,629	1,097,973
Unearned Premiums	0				0				0	0	0
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	8,324,931				7,308,354				8,324,931	7,308,354	7,059,060
Net Premiums and Policy Fees									148,033	152,701	146,458
Net Investment Income									340,685	321,844	322,608
Benefits and Settlement Expenses									226,704	216,629	214,100
Amortization of deferred policy acquisition costs and value of business acquired									24,274	(54,471)	(11,031)
Other Operating Expenses									151,054	149,181	140,409
Premiums Written									0	0	0
Stable Value Products
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	6,121				6,864				6,121	6,864	5,455
Future Policy Benefits and Claims	0				0				0	0	0
Unearned Premiums	0				0				0	0	0
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	5,234,731				4,698,371				5,234,731	4,698,371	3,501,636
Net Premiums and Policy Fees									0	0	0
Net Investment Income									217,778	186,576	107,010
Benefits and Settlement Expenses									109,747	74,578	41,736
Amortization of deferred policy acquisition costs and value of business acquired									3,201	2,354	1,176
Other Operating Expenses									2,798	4,407	3,033
Premiums Written									0	0	0
Asset Protection
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	168,974				24,442				168,974	24,442	33,280
Future Policy Benefits and Claims	52,636				55,847				52,636	55,847	60,790
Unearned Premiums	869,615				872,600				869,615	872,600	844,919
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	0				0				0	0	0
Net Premiums and Policy Fees									140,130	154,166	128,687
Net Investment Income									30,457	27,325	22,082
Benefits and Settlement Expenses									113,073	126,459	106,668
Amortization of deferred policy acquisition costs and value of business acquired									62,726	16,524	20,033
Other Operating Expenses									104,533	160,235	125,957
Premiums Written									135,596	148,093	121,821
Corporate and Other
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Businesses Acquired	0				0				0	0	0
Future Policy Benefits and Claims	53,006				58,664				53,006	58,664	63,208
Unearned Premiums	675				275				675	275	723
Stable Value Products, Annuity Contracts and Other Policyholders’ Funds	$ 82,538				$ 78,810				82,538	78,810	75,301
Net Premiums and Policy Fees									12,198	12,718	13,740
Net Investment Income									234,831	209,324	200,690
Benefits and Settlement Expenses									17,647	16,382	17,946
Amortization of deferred policy acquisition costs and value of business acquired									0	0	0
Other Operating Expenses									316,829	345,022	295,498
Premiums Written									$ 12,186	$ 12,732	$ 13,689

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Life insurance in-force
Gross Amount	$ 765,986,223	$ 751,512,468	$ 739,248,680
Ceded to Other Companies	(302,149,614)	(328,377,398)	(348,994,650)
Assumed from Other Companies	135,407,408	110,205,190	116,265,430
Net life insurance in-force	$ 599,244,017	$ 533,340,260	$ 506,519,460
Percentage of Amount Assumed to Net	23.00%	21.00%	23.00%
Premiums and policy fees:
Gross Amount	$ 3,036,853	$ 3,017,685	$ 2,929,767
Ceded to Other Companies	(1,384,941)	(1,360,735)	(1,314,716)
Assumed from Other Companies	643,992	459,734	478,164
Net Amount	2,295,904	2,116,684	2,093,215
Life insurance
Premiums and policy fees:
Gross Amount	2,681,191	2,655,846	2,610,682
Ceded to Other Companies	(1,173,194)	(1,151,175)	(1,126,915)
Assumed from Other Companies	626,283	435,113	454,999
Net Amount	$ 2,134,280	$ 1,939,784	$ 1,938,766
Percentage of Amount Assumed to Net	29.30%	22.50%	23.50%
Annuity policy fees	$ 177,100	$ 173,500	$ 160,400
Accident/health insurance
Premiums and policy fees:
Gross Amount	47,028	51,991	58,076
Ceded to Other Companies	(30,126)	(33,051)	(36,935)
Assumed from Other Companies	12,826	14,945	17,439
Net Amount	$ 29,728	$ 33,885	$ 38,580
Percentage of Amount Assumed to Net	43.10%	44.10%	45.20%
Property and liability insurance
Premiums and policy fees:
Gross Amount	$ 308,634	$ 309,848	$ 261,009
Ceded to Other Companies	(181,621)	(176,509)	(150,866)
Assumed from Other Companies	4,883	9,676	5,726
Net Amount	$ 131,896	$ 143,015	$ 115,869
Percentage of Amount Assumed to Net	3.70%	6.80%	4.90%

SCHEDULE V - VALUATION AND QU_2

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

Uncategorized Items - pl-201812

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