Pruco Life Insurance 10-K 5 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 05, 2020
Cover page.
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	033-37587
Entity Registrant Name	PRUCO LIFE INSURANCE CO
Entity Central Index Key	0000777917
Entity Incorporation, State or Country Code	AZ
Entity Tax Identification Number	22-1944557
Entity Address, Address Line One	213 Washington Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	802-6000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		250,000
Entity Public Float	$ 0

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Fixed maturities, available for sale, at fair value (amortized cost: 2019 – $5,283,266; 2018 – $5,244,903)	$ 5,681,970	$ 5,199,595
Fixed maturities, trading, at fair value (amortized cost: 2019 – $59,995; 2018 – $44,759)	59,964	41,627
Equity securities, at fair value (cost: 2019 – $6,360; 2018 – $31,824)	10,494	36,922
Policy loans	1,314,064	1,236,077
Commercial mortgage and other loans	1,239,885	1,209,150
Other invested assets (includes $87,456 and $120,717 measured at fair value at December 31, 2019 and 2018, respectively)	429,558	377,429
Total investments	8,735,935	8,100,800
Cash and cash equivalents	563,199	416,840
Deferred policy acquisition costs	1,855,698	1,613,922
Accrued investment income	89,448	88,278
Reinsurance recoverables	40,710,159	34,682,127
Receivables from parent and affiliates	271,981	289,580
Income Taxes Receivable	102,652	46,102
Other assets	441,543	365,219
Separate account assets	138,387,772	119,077,916
TOTAL ASSETS	191,158,387	164,680,784
LIABILITIES
Policyholders’ account balances	22,878,823	22,059,692
Future policy benefits	25,258,673	19,476,394
Cash collateral for loaned securities	7,529	11,063
Short-term debt to affiliates	2,845	0
Payables to parent and affiliates	216,842	229,345
Other liabilities	1,390,876	1,093,143
Separate account liabilities	138,387,772	119,077,916
Total liabilities	188,143,360	161,947,553
Commitments and Contingent Liabilities
EQUITY
Common stock ($10 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding)	2,500	2,500
Additional paid-in capital	1,153,632	1,146,592
Retained earnings	1,577,453	1,612,435
Accumulated other comprehensive income (loss)	281,442	(28,296)
Total equity	3,015,027	2,733,231
TOTAL LIABILITIES AND EQUITY	$ 191,158,387	$ 164,680,784

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, amortized cost	$ 5,283,266	$ 5,244,903
Fixed maturities, trading, amortized cost	59,995	44,759
Equity securities, at cost	6,360	31,824
Other invested assets, at fair value	$ 87,456	$ 120,717
Common stock, par value (in dollars per share)	$ 10	$ 10
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	250,000	250,000
Common stock, shares outstanding	250,000	250,000

Consolidated Statement of Opera

Consolidated Statement of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUES
Premiums	$ 28,544	$ 50,808	$ 54,706
Policy charges and fee income	544,156	533,327	275,693
Net investment income	393,797	325,287	352,410
Asset administration fees	16,056	14,368	17,593
Other income	83,560	72,964	67,749
Realized investment gains (losses), net:
Other-than-temporary impairments on fixed maturity securities	(8,655)	(3,710)	(8,374)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income	(379)	0	995
Other realized investment gains (losses), net	(107,715)	(163,568)	(72,807)
Total realized investment gains (losses), net	(116,749)	(167,278)	(80,186)
TOTAL REVENUES	949,364	829,476	687,965
BENEFITS AND EXPENSES
Policyholders’ benefits	153,074	149,499	(18,416)
Interest credited to policyholders’ account balances	187,229	171,993	168,391
Amortization of deferred policy acquisition costs	113,318	135,826	95,007
General, administrative and other expenses	336,959	314,371	271,533
TOTAL BENEFITS AND EXPENSES	790,580	771,689	516,515
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	158,784	57,787	171,450
Income tax expense (benefit)	(59,132)	(52,641)	(156,828)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	217,916	110,428	328,278
Equity in earnings of operating joint venture, net of taxes	(917)	(1,790)	(485)
NET INCOME (LOSS)	216,999	108,638	327,793
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	9,572	(17,745)	259
Net unrealized investment gains (losses)	381,447	(259,981)	137,484
Total	391,019	(277,726)	137,743
Less: Income tax expense (benefit) related to other comprehensive income (loss)	81,281	(55,174)	43,372
Other comprehensive income (loss), net of tax	309,738	(222,552)	94,371
Comprehensive income (loss)	$ 526,737	$ (113,914)	$ 422,164

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total Equity
Beginning Balance at Dec. 31, 2016		$ 2,500	$ 986,062	$ 1,448,517	$ 70,975	$ 2,508,054
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital			153,500			153,500
Dividend to parent				(250,000)		(250,000)
Contributed (distributed) capital-parent/child asset transfers			1,530			1,530
Comprehensive income:
Net income (loss)	$ 327,793			327,793		327,793
Other comprehensive income (loss), net of tax	94,371				94,371	94,371
Total comprehensive income (loss)						422,164
Ending Balance at Dec. 31, 2017		2,500	1,141,092	1,526,310	165,346	2,835,248
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital			5,500			5,500
Comprehensive income:
Net income (loss)	108,638			108,638		108,638
Other comprehensive income (loss), net of tax	(222,552)				(222,552)	(222,552)
Total comprehensive income (loss)						(113,914)
Ending Balance at Dec. 31, 2018		2,500	1,146,592	1,612,435	(28,296)	2,733,231
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption	(27)
Cumulative effect of adoption | ASU 2016-01					(1,539)
Contributed capital			5,900			5,900
Dividend to parent				(250,000)		(250,000)
Contributed (distributed) capital-parent/child asset transfers			1,140	0		1,140
Comprehensive income:
Net income (loss)	216,999			216,999		216,999
Other comprehensive income (loss), net of tax	$ 309,738				309,738	309,738
Total comprehensive income (loss)						526,737
Ending Balance at Dec. 31, 2019		$ 2,500	$ 1,153,632	$ 1,577,453	$ 281,442	$ 3,015,027

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 216,999	$ 108,638	$ 327,793
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Policy charges and fee income	(126,300)	(116,675)	(142,781)
Interest credited to policyholders’ account balances	187,229	171,993	168,391
Realized investment (gains) losses, net	116,749	167,278	80,186
Amortization and other non-cash items	(81,847)	(43,259)	(65,536)
Change in:
Future policy benefits	2,538,263	1,843,825	1,920,440
Reinsurance recoverables	(2,739,573)	(1,832,092)	(2,046,215)
Accrued investment income	(1,170)	(5,937)	(3,692)
Net payables to/receivables from parent and affiliates	(7,175)	18,457	43,913
Deferred policy acquisition costs	(338,455)	(211,059)	(183,884)
Income taxes	(138,706)	(28,950)	(76,330)
Derivatives, net	143,004	(44,585)	55,104
Other, net	(22,573)	(4,487)	26,443
Cash flows from (used in) operating activities	(253,555)	23,147	103,832
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	948,693	561,340	1,062,236
Fixed maturities, trading	0	0	214
Equity securities	29,532	6,008	510
Policy loans	162,744	153,124	143,655
Ceded policy loans	(11,953)	(15,131)	(15,188)
Short-term investments	51,117	13,404	72,725
Commercial mortgage and other loans	144,512	64,261	254,635
Other invested assets	18,599	19,527	31,192
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(940,605)	(875,672)	(1,315,508)
Fixed maturities, trading	(15,235)	(6,481)	(15,019)
Equity securities	(110)	(5,039)	(5,000)
Policy loans	(196,508)	(179,968)	(123,645)
Ceded policy loans	19,790	17,036	18,942
Short-term investments	(51,113)	(13,430)	(37,407)
Commercial mortgage and other loans	(171,762)	(199,847)	(180,929)
Other invested assets	(84,762)	(70,902)	(32,275)
Notes receivable from parent and affiliates, net	15,980	(2,464)	5,731
Derivatives, net	(4,056)	639	(17,569)
Other, net	(6,342)	(2,880)	(152,576)
Cash flows from (used in) investing activities	(91,479)	(536,475)	(305,276)
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits	5,407,620	5,093,239	4,540,655
Ceded policyholders’ account deposits	(3,537,492)	(3,230,005)	(3,083,049)
Policyholders’ account withdrawals	(3,568,340)	(3,135,714)	(2,682,445)
Ceded policyholders’ account withdrawals	2,431,701	2,022,519	1,692,756
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities	(3,534)	(22,106)	(110,710)
Dividend to parent	250,000	0	250,000
Contributed Capital	0	0	148,500
Contributed (distributed) capital - parent/child asset transfers	1,443	0	2,354
Net change in financing arrangements (maturities 90 days or less)	2,845	0	0
Drafts outstanding	7,150	(10,334)	59,795
Cash flows from (used in) financing activities	491,393	717,599	317,856
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	146,359	204,271	116,412
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	416,840	212,569	96,157
CASH AND CASH EQUIVALENTS, END OF YEAR	563,199	416,840	212,569
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid (refund)	79,574	(23,684)	(45,538)
Interest Paid	3,204	$ 3,099	$ 2,179
Significant Non-Cash Transactions
Increase (Decrease) In Fixed Maturities, Available For Sale, Investing Activities	(837,000)
Increase (Decrease) In Other Invested Assets, Tax Settlements, Investing Activities	$ (35,000)

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Pruco Life Insurance Company, (“Pruco Life”) is a wholly-owned subsidiary of The Prudential Insurance Company of America (“Prudential Insurance”), which in turn is a direct wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential Financial”). Pruco Life is a stock life insurance company organized in 1971 under the laws of the State of Arizona. It is licensed to sell life insurance and annuities in the District of Columbia, Guam and in all states except New York, and sells such products primarily through affiliated and unaffiliated distributors. Pruco Life has one wholly-owned insurance subsidiary, Pruco Life Insurance Company of New Jersey, (“PLNJ”). PLNJ is a stock life insurance company organized in 1982 under the laws of the state of New Jersey. It is licensed to sell life insurance and annuities in New Jersey and New York only. Pruco Life and its subsidiary are together referred to as the "Company", "we" or "our" and all financial information is shown on a consolidated basis. Through March 31, 2016, the Company reinsured the majority of its variable annuity living benefit guarantees to an affiliated reinsurance company, Pruco Reinsurance, Ltd. ("Pruco Re"). Effective April 1, 2016, the Company recaptured the risks related to its variable annuity living benefit guarantees that were previously reinsured to Pruco Re. In addition, the Company reinsured variable annuity base contracts, along with the living benefit guarantees, to Prudential Annuities Life Assurance Corporation ("PALAC"), excluding the PLNJ business, which was reinsured to Prudential Insurance, in each case under a coinsurance and modified coinsurance agreement. These reinsurance agreements cover new and in force business and exclude business reinsured externally. The product risks related to the reinsured business are being managed in PALAC and Prudential Insurance, as applicable. In addition, the living benefit hedging program related to the reinsured living benefit guarantees is being managed within PALAC and Prudential Insurance, as applicable. Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of 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 DAC and related amortization; fair value of embedded derivative instruments associated with index-linked features of certain universal life products; valuation of investments including derivatives and the recognition of other-than-temporary impairments (“OTTI”); future policy benefits including guarantees; reinsurance recoverables; provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters. Out of Period Adjustments During the third quarter of 2019, the Company recorded an out of period adjustment which increased “Realized investment gains (losses), net” by $13 million , with a corresponding increase to “Interest credited to policyholders’ account balances”, which had related impacts resulting in a decrease of $5 million to "Income (loss) from operations before income taxes and equity in earnings of operating joint venture" for the three months ended September 30, 2019. This adjustment relates to a refinement to the embedded derivative reserve methodology used for the indexed universal life product that should have been recorded during second quarter of 2019. During the second quarter of 2019, the Company recorded an out of period adjustment resulting in a net increase of $11 million to "Income (loss) from operations before income taxes and equity in earnings of operating joint venture" for the three months ended June 30, 2019. This adjustment relates to investment income from equity method investments that should have been recorded during first quarter of 2019. Management has evaluated the impact of all out of period adjustments, both individually and in the aggregate, and concluded that they are not material to any current or previously reported quarterly or annual financial statements. Reclassifications

Significant Accounting Policies

Significant Accounting Policies and Pronouncements	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies and Pronouncements	SIGNIFICANT ACCOUNTING POLICIES AND PRONOUNCEMENTS ASSETS Fixed maturities, available-for-sale, at fair value are comprised of bonds, notes and redeemable preferred stock. Fixed maturities classified as “available-for-sale” are carried at fair value. See Note 5 for additional information regarding the determination of fair value. The associated unrealized gains and losses, net of tax, and the effect on DAC, DSI, future policy benefits, reinsurance recoverables, and policyholders’ account balances that would result from the realization of unrealized gains and losses, are included in “Accumulated other comprehensive income (loss)” (“AOCI”). The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. Interest income, and amortization of premium and accretion of discount are included in “Net investment income” under the effective yield method. Additionally, prepayment premiums are also included in “Net investment income”. For mortgage-backed and asset-backed securities, the effective yield is based on estimated cash flows, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also vary based on other assumptions regarding the underlying collateral, including default rates and changes in value. These assumptions can significantly impact income recognition and the amount of OTTI recognized in earnings and other comprehensive income (loss) ("OCI"). For high credit quality mortgage-backed and asset-backed securities (those rated AA or above), cash flows are provided quarterly, and the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to "Net investment income" in accordance with the retrospective method. For mortgage-backed and asset-backed securities rated below AA or those for which an OTTI has been recorded, the effective yield is adjusted prospectively for any changes in estimated cash flows. See the discussion below on realized investment gains and losses for a description of the accounting for impairments. Fixed maturities, trading, at fair value consists of fixed maturities that are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income,” and interest and dividend income from these investments is reported in “Net investment income”. Equity securities, at fair value is comprised of common stock and mutual fund shares, which are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income,” and dividend income is reported in “Net investment income” on the ex-dividend date. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities using a modified retrospective method. Adoption of this ASU impacted the Company’s accounting and presentation related to equity investments. The most significant impact is that the changes in fair value of equity securities previously classified as “available-for-sale” are reported in net income within “Other income” in the Consolidated Statements of Operations. Prior to this, the changes in fair value on equity securities classified as “available-for-sale” were reported in AOCI. The impact of this standard resulted in an increase to retained earnings of $7.9 million , a reduction to AOCI of $1.5 million , and an increase to equity of $6.4 million upon adoption on January 1, 2018. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Short-term investments primarily consist of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased. These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government sponsored entities and other highly liquid debt instruments. Commercial mortgage and other loans consist of commercial mortgage loans and agricultural property loans. Commercial mortgage and other loans held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses and net of an allowance for losses. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income". Impaired loans include those loans for which it is probable that amounts due will not all be collected according to the contractual terms of the loan agreement. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. Interest received on loans that are past due, including impaired and non-impaired loans as well as loans that were previously modified in a troubled debt restructuring, is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged to interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. The Company reviews the performance and credit quality of the commercial mortgage and other loan portfolio on an on-going basis. Loans are placed on watch list status based on a predefined set of criteria and are assigned one of two categories. Loans are classified as “closely monitored” when it is determined that there is a collateral deficiency or other credit events that may lead to a potential loss of principal or interest. Loans “not in good standing” are those loans where the Company has concluded that there is a high probability of loss of principal, such as when the loan is delinquent or in the process of foreclosure. As described below, in determining the allowance for losses, the Company evaluates each loan on the watch list to determine if it is probable that amounts due will not be collected according to the contractual terms of the loan agreement. Loan-to-value and debt service coverage ratios are measures commonly used to assess the quality of commercial mortgage loans. The loan-to-value ratio compares the amount of the loan to the fair value of the underlying property collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the loan amount exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the loan amount. The debt service coverage ratio compares a property’s net operating income to its debt service payments. Debt service coverage ratios less than 1.0 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 times indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. The loan-to-value ratio is the most significant of several inputs used to establish the internal credit rating of a loan which in turn drives the allowance for losses. Other key factors considered in determining the internal credit rating include debt service coverage ratios, amortization, loan term, and estimated market value growth rate and volatility for the property type and region. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. The allowance for losses includes a loan specific reserve for each impaired loan that has a specifically identified loss and a portfolio reserve for probable incurred but not specifically identified losses. For impaired commercial mortgage and other loans, the allowances for losses are determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or based upon the fair value of the collateral if the loan is collateral dependent. The portfolio reserves for probable incurred but not specifically identified losses in the commercial mortgage and agricultural loan portfolios consider the current credit composition of the portfolio based on an internal quality rating as described above. The portfolio reserves are determined using past loan experience, including historical credit migration, loss probability and loss severity factors by property type. These factors are reviewed and updated as appropriate. The allowance for losses on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. “Realized investment gains (losses), net” includes changes in the allowance for losses. “Realized investment gains (losses), net” also includes gains and losses on sales, certain restructurings, and foreclosures. When a commercial mortgage or other loan is deemed to be uncollectible, any specific valuation allowance associated with the loan is reversed and a direct write down of the carrying amount of the loan is made. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Commercial mortgage and other loans are occasionally restructured in a troubled debt restructuring. These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt as part of a troubled debt restructuring. When restructurings occur, they are evaluated individually to determine whether the restructuring or modification constitutes a “troubled debt restructuring” as defined by authoritative accounting guidance. If the borrower is experiencing financial difficulty and the Company has granted a concession, the restructuring, including those that involve a partial payoff or the receipt of assets in full satisfaction of the debt is deemed to be a troubled debt restructuring. Based on the Company’s credit review process described above, these loans generally would have been deemed impaired prior to the troubled debt restructuring, and specific allowances for losses would have been established prior to the determination that a troubled debt restructuring has occurred. In a troubled debt restructuring where the Company receives assets in full satisfaction of the debt, any specific valuation allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the assets received and the recorded investment in the loan. When assets are received in partial settlement, the same process is followed, and the remaining loan is evaluated prospectively for impairment based on the credit review process noted above. When a loan is restructured in a troubled debt restructuring, the impairment of the loan is remeasured using the modified terms and the loan’s original effective yield, and the allowance for loss is adjusted accordingly. Subsequent to the modification, income is recognized prospectively based on the modified terms of the loans in accordance with the income recognition policy noted above. Additionally, the loan continues to be subject to the credit review process noted above. In situations where a loan has been restructured in a troubled debt restructuring and the loan has subsequently defaulted, this factor is considered when evaluating the loan for a specific allowance for losses in accordance with the credit review process noted above. See Note 3 for additional information about commercial mortgage and other loans that have been restructured in a troubled debt restructuring. Other invested assets consist of the Company’s non-coupon investments in Limited Partnerships and Limited Liability Companies ("LPs/LLCs") (other than operating joint ventures) and derivative assets. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value with changes in fair value reported in “Other income”. The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income”. The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. For the investments reported at fair value with changes in fair value reported in current earnings, the associated realized and unrealized gains and losses are reported in “Other income”. Realized investment gains (losses) are computed using the specific identification method. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as adjustments to the cost basis of investments for net OTTI recognized in earnings. Realized investment gains and losses also reflect changes in the allowance for losses on commercial mortgage and other loans, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. The Company’s available-for-sale securities with unrealized losses are reviewed quarterly to identify OTTI in value. In evaluating whether a decline in value is other-than-temporary, the Company considers several factors including, but not limited to the following: (1) the extent and the duration of the decline; (2) the reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); and (3) the financial condition of and near-term prospects of the issuer. An OTTI is recognized in earnings for a debt security in an unrealized loss position when the Company either (1) has the intent to sell the debt security or (2) it is more likely than not will be required to sell the debt security before its anticipated recovery. For all debt securities in unrealized loss positions that do not meet either of these two criteria, the Company analyzes its ability to recover the amortized cost by comparing the net present value of projected future cash flows with the amortized cost of the security. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security prior to impairment. The Company may use the estimated fair value of collateral as a proxy for the net present value if it believes that the security is dependent on the liquidation of collateral for recovery of its investment. If the net present value is less than the amortized cost of the investment, an OTTI is recognized. When an OTTI of a debt security has occurred, the amount of the OTTI recognized in earnings depends on whether the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. If the debt security meets either of these two criteria, the OTTI recognized in earnings is equal to the entire difference between the security’s amortized cost basis and its fair value at the impairment measurement date. For OTTI of debt securities that do not meet these criteria, the net amount recognized in earnings is equal to the difference between the amortized cost of the debt security and its net present value calculated as described above. Any difference between the fair value and the net present value of the debt security at the impairment measurement date is recorded in OCI. Unrealized gains or losses on securities for which an OTTI has been recognized in earnings is tracked as a separate component of AOCI. The split between the amount of an OTTI recognized in OCI and the net amount recognized in earnings for debt securities is driven principally by assumptions regarding the amount and timing of projected cash flows. For mortgage-backed and asset-backed securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. For structured securities, the payment priority within the tranche structure is also considered. For all other debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. The new cost basis of an impaired security is not adjusted for subsequent increases in estimated fair value. In periods subsequent to the recognition of an OTTI, the impaired security is accounted for as if it had been purchased on the measurement date of the impairment. For debt securities, the discount (or reduced premium) based on the new cost basis may be accreted into net investment income in future periods, including increases in cash flows on a prospective basis. In certain cases where there are decreased cash flow expectations, the security is reviewed for further cash flow impairments. Unrealized investment gains and losses are also considered in determining certain other balances, including DAC, DSI, certain future policy benefits, reinsurance recoverables, policyholders’ account balances and deferred tax assets or liabilities. These balances are adjusted, as applicable, for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. Each of these balances is discussed in greater detail below. Cash and cash equivalents include cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in "Fixed maturities, available-for-sale, at fair value,” and receivables related to securities purchased under agreements to resell (see also "Securities sold under agreements to purchase" below.) The Company also engages in overnight borrowing and lending of funds with Prudential Financial and affiliates which are considered cash and cash equivalents. These assets are generally carried at fair value or amortized cost which approximates fair value. Deferred policy acquisition costs are directly related to the successful acquisition of new and renewal insurance and annuity business that have been deferred to the extent such costs are deemed recoverable from future profits. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully negotiated contracts. In each reporting period, capitalized DAC is amortized to “Amortization of DAC”, net of the accrual of imputed interest on DAC balances. DAC is subject to periodic recoverability testing. DAC, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. DAC related to universal and variable life products and fixed and variable deferred annuity products are generally deferred and amortized over the expected life of the contracts in proportion to gross profits arising principally from investment margins, mortality and expense margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. The Company uses a reversion to the mean approach for equities to derive future equity return assumptions. However, if the projected equity return calculated using this approach is greater than the maximum equity return assumption, the maximum equity return is utilized. Gross profits also include impacts from the embedded derivatives associated with certain of the optional living benefit features of variable annuity contracts, and index-linked crediting features of indexed universal life contracts and related hedging activities. In calculating gross profits, profits and losses related to contracts issued by the Company that are reported in affiliated legal entities other than the Company as a result of, for example, reinsurance agreements with those affiliated entities are also included. The Company is an indirect subsidiary of Prudential Financial, a United States Securities and Exchange Commission (the "SEC") registrant, and has extensive transactions and relationships with other subsidiaries of Prudential Financial, including reinsurance agreements, as described in Note 9 . Incorporating all product-related profits and losses in gross profits, including those that are reported in affiliated legal entities, produces a DAC amortization pattern representative of the total economics of the products. Total gross profits include both actual gross profits and estimates of gross profits for future periods. The Company regularly evaluates and adjusts DAC balances with a corresponding charge or credit to current period earnings, representing a cumulative adjustment to all prior periods’ amortization, for the impact of actual gross profits and changes in the Company's projections of estimated future gross profits. Adjustments to DAC balances include: (i) annual review of assumptions that reflect the comprehensive review of the assumptions used in estimating gross profits for future periods, (ii) quarterly adjustments for current period experience (also referred to as “experience true-up” adjustments) that reflect the impact of differences between actual gross profits for a given period and the previously estimated expected gross profits for that period, and (iii) quarterly adjustments for market performance (also referred to as “experience unlocking”) that reflect the impact of changes to the Company's estimate of total gross profits to reflect actual fund performance and market conditions. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If policyholders surrender traditional life insurance policies in exchange for life insurance policies that do not have fixed and guaranteed terms, the Company immediately charges to expense the remaining unamortized DAC on the surrendered policies. For other internal replacement transactions, except those that involve the addition of a nonintegrated contract feature that does not change the existing base contract, the unamortized DAC is immediately charged to expense if the terms of the new policies are not substantially similar to those of the former policies. If the new terms are substantially similar to those of the earlier policies, the DAC is retained with respect to the new policies and amortized over the expected life of the new policies. See Note 6 for additional information regarding DAC. Accrued investment income primarily includes accruals of interest and dividend income from investments that have been earned but not yet received. Reinsurance recoverables include corresponding receivables associated with reinsurance arrangements with affiliates and third-party reinsurers. For additional information about these arrangements see Note 9 . Income taxes asset primarily represents the net deferred tax asset and the Company’s estimated taxes receivable for the current year and open audit years. The Company is a member of the federal income tax return of Prudential Financial and primarily files separate company state and local tax returns. Pursuant to the tax allocation arrangement with Prudential Financial, total federal income tax expense is determined on a separate company basis. Members record tax benefits to the extent tax losses or tax credits are recognized in the consolidated federal tax provision. Items required by tax regulations to be included in the tax return may differ from the items reflected in the financial statements. As a result, the effective tax rate reflected in the financial statements may be different than the actual rate applied on the tax return. Some of these differences are permanent such as expenses that are not deductible in the Company’s tax return, and some differences are temporary, reversing over time, such as valuation of insurance reserves. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that can be used as a tax deduction or credit in future years for which the Company has already recorded the tax benefit in the Company’s Consolidated Statements of Operations. Deferred tax liabilities generally represent tax expense recognized in the Company’s financial statements for which payment has been deferred, or expenditures for which the Company has already taken a deduction in the Company’s tax returns but have not yet been recognized in the Company’s financial statements. Deferred income taxes are recognized, based on enacted rates, when assets and liabilities have different values for financial statement and tax reporting purposes. The application of U.S. 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 expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. See Note 10 for a discussion of factors considered when evaluating the need for a valuation allowance. In December of 2017, SEC staff issued "SAB 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act" ("SAB 118"), which allowed registrants to record provisional amounts during a 'measurement period' not to extend beyond one year. Under the relief provided by SAB 118, a company could recognize provisional amounts when it did not have the necessary information available, prepared or analyzed in reasonable detail to complete its accounting for the change in tax law. See Note 10 for a discussion of provisional amounts related to The United States Tax Cuts and Jobs Act of 2017 ("Tax Act of 2017") recorded in 2017 and adjustments to provisional amounts recorded in 2018. U.S. 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. First, 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 a 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 has passed. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards (“tax attributes”), the statute of limitations does not close, to the extent of these tax attributes, 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 10 for additional information regarding income taxes. Effective January 1, 2018, the Company adopted ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Loss) , which allowed a reclassification from AOCI to retained earnings for stranded effects resulting from the Tax Act of 2017. The Company elected to apply the ASU subsequent to recording the adoption impacts of ASU 2016-01 as described above. As a result, the Company reclassified stranded effects resulting from the Tax Act of 2017 by increasing AOCI and decreasing retained earnings, each by $30.4 million upon adoption on January 1, 2018. Stranded effects unrelated to the Tax Act of 2017 are generally released from AOCI when an entire portfolio of the type of item related to the stranded effect is liquidated, sold or extinguished (i.e., portfolio approach). Other assets consist primarily of prem

Investments

Investments	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Investments	1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 676,517 $ 18,418 $ 1,912 $ 696,847 60%-69.99% 354,828 12,799 0 367,627 70%-79.99% 149,448 27,506 0 176,954 80% or greater 0 225 0 225 Total commercial mortgage and agricultural property loans $ 1,180,793 $ 58,948 $ 1,912 $ 1,241,653 December 31, 2018 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 696,507 $ 12,771 $ 80 $ 709,358 60%-69.99% 321,586 18,525 0 340,111 70%-79.99% 105,727 27,790 0 133,517 80% or greater 28,000 229 0 28,229 Total commercial mortgage and agricultural property loans $ 1,151,820 $ 59,315 $ 80 $ 1,211,215 The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: December 31, 2019 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,219,456 $ 0 $ 0 $ 0 $ 1,219,456 $ 0 Agricultural property loans 22,197 0 0 0 22,197 0 Total $ 1,241,653 $ 0 $ 0 $ 0 $ 1,241,653 $ 0 (1) As of December 31, 2019 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 . December 31, 2018 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,155,777 $ 0 $ 0 $ 0 $ 1,155,777 $ 0 Agricultural property loans 55,438 0 0 0 55,438 0 Total $ 1,211,215 $ 0 $ 0 $ 0 $ 1,211,215 $ 0 (1) As of December 31, 2018 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 . For the years ended December 31, 2019 and 2018 , there were $0 million and $3 million of commercial mortgage and other loans acquired, other than those through direct origination, respectively. For the years ended December 31, 2019 and 2018 , there were $5 million and $0 million of commercial mortgage and other loans sold, respectively. Other Invested Assets The following table sets forth the composition of “Other invested assets,” as of the dates indicated: December 31, 2019 2018 (in thousands) Company's investment in separate accounts $ 46,573 $ 40,126 LPs/LLCs: Equity method: Private equity 189,095 149,164 Hedge funds 64,002 57,171 Real estate-related 42,432 10,251 Subtotal equity method 295,529 216,586 Fair value: Private equity 62,639 60,118 Hedge funds 562 762 Real estate-related 11,707 9,024 Subtotal fair value 74,908 69,904 Total LPs/LLCs 370,437 286,490 Derivative instruments 12,548 50,813 Total other invested assets $ 429,558 $ 377,429 Equity Method Investments The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities. December 31, 2019 2018 (in thousands) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 26,017,399 $ 3,946,992 Total liabilities(2) $ 164,080 $ 65,903 Partners’ capital 25,853,319 3,881,089 Total liabilities and partners’ capital $ 26,017,399 $ 3,946,992 Total liabilities and partners’ capital included above $ 325,677 $ 269,775 Equity in LP/LLC interests not included above 114,505 83,029 Carrying value $ 440,182 $ 352,804 (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds and other miscellaneous liabilities. Years Ended December 31, 2019 2018 2017 (in thousands) STATEMENTS OF OPERATIONS Total revenue(1) $ 819,904 $ 128,356 $ 319,414 Total expenses(2) (200,666 ) (39,040 ) (31,680 ) Net earnings (losses) $ 619,238 $ 89,316 $ 287,734 Equity in net earnings (losses) included above $ 24,971 $ (2,470 ) $ 12,439 Equity in net earnings (losses) of LP/LLC interests not included above 5,077 (1,452 ) 5,191 Total equity in net earnings (losses) $ 30,048 $ (3,922 ) $ 17,630 (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. Net Investment Income The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities, available-for-sale $ 235,456 $ 220,942 $ 230,060 Fixed maturities, trading 1,374 1,105 834 Equity securities, at fair value 856 885 884 Commercial mortgage and other loans 57,886 49,577 52,127 Policy loans 68,485 66,305 63,884 Short-term investments and cash equivalents 9,266 2,382 1,090 Other invested assets 38,577 2,256 23,518 Gross investment income 411,900 343,452 372,397 Less: investment expenses (18,103 ) (18,165 ) (19,987 ) Net investment income $ 393,797 $ 325,287 $ 352,410 The carrying value of non-income producing assets included $8.4 million in available-for-sale fixed maturities as of December 31, 2019 . Non-income producing assets represent investments that had not produced income for the twelve months preceding December 31, 2019 . Realized Investment Gains (Losses), Net The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities(1) $ 46,738 $ (13,340 ) $ 27,123 Equity securities(2) 0 0 (125 ) Commercial mortgage and other loans 297 (271 ) (337 ) LPs/LLCs (3,400 ) 849 (221 ) Derivatives (160,368 ) (154,208 ) (106,625 ) Short-term investments and cash equivalents (16 ) (308 ) (1 ) Realized investment gains (losses), net $ (116,749 ) $ (167,278 ) $ (80,186 ) (1) Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading. (2) Effective January 1, 2018, realized gains (losses) on equity securities are recorded within “Other income.” Net Unrealized Gains (Losses) on Investments within AOCI The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: December 31, 2019 2018 2017 (in thousands) Fixed maturity securities, available-for-sale—with OTTI $ 1,568 $ (689 ) $ 1,609 Fixed maturity securities, available-for-sale—all other 397,136 (44,619 ) 279,749 Equity securities, available-for-sale(1) 0 0 2,368 Derivatives designated as cash flow hedges(2) 26,126 22,122 (17,678 ) Affiliated notes 4,715 810 4,782 Other investments (4,365 ) 5,055 3,588 Net unrealized gains (losses) on investments $ 425,180 $ (17,321 ) $ 274,418 (1) Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded within “Other income.” (2) For more information on cash flow hedges, see Note 4. Repurchase Agreements and Securities Lending In the normal course of business, the Company sells securities under agreements to repurchase and enters into securities lending transactions. As of both December 31, 2019 and 2018 , the Company had no repurchase agreements. The following table sets forth the composition of “Cash collateral for loaned securities,” which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: December 31, 2019 December 31, 2018 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in thousands) U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 8,169 $ 0 $ 8,169 U.S. public corporate securities 5,048 0 5,048 628 0 628 Foreign public corporate securities 2,481 0 2,481 2,266 0 2,266 Total cash collateral for loaned securities(1) $ 7,529 $ 0 $ 7,529 $ 11,063 $ 0 $ 11,063 (1) The Company did not have agreements with remaining contractual maturities of thirty days or greater, as of the dates indicated. Securities Pledged, Restricted Assets and Special Deposits The Company pledges as collateral investment securities it owns to unaffiliated parties through certain transactions, including securities lending, securities sold under agreements to repurchase, collateralized borrowings and postings of collateral with derivative counterparties. The following table sets forth the carrying value of investments pledged to third parties and the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2019 2018 (in thousands) Pledged collateral: Fixed maturity securities, available-for-sale $ 7,292 $ 10,836 Total securities pledged $ 7,292 $ 10,836 Liabilities supported by the pledged collateral: Cash collateral for loaned securities $ 7,529 $ 11,063 Total liabilities supported by the pledged collateral $ 7,529 $ 11,063 In the normal course of its business activities, the Company accepts collateral that can be sold or repledged. The primary sources of this collateral are securities purchased under agreements to resell. As of December 31, 2019 and 2018 , the fair value of this collateral was $0 million and $143 million , respectively, none of which had either been sold or repledged. As of December 31, 2019 and 2018 , there were available-for-sale fixed maturities of $3.8 million and $3.7 million , respectively, on deposit with governmental authorities or trustees as required by certain insurance laws." id="sjs-B4">3. INVESTMENTS Fixed Maturity Securities The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI in AOCI(3) (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 83,622 $ 2,846 $ 0 $ 86,468 $ 0 Obligations of U.S. states and their political subdivisions 458,152 39,675 0 497,827 0 Foreign government bonds 196,034 26,793 1 222,826 0 U.S. public corporate securities 1,914,503 229,071 2,247 2,141,327 0 U.S. private corporate securities 886,281 44,497 1,006 929,772 0 Foreign public corporate securities 256,843 22,158 385 278,616 0 Foreign private corporate securities 939,603 38,426 19,551 958,478 0 Asset-backed securities(1) 119,602 800 466 119,936 (7 ) Commercial mortgage-backed securities 367,848 15,231 163 382,916 0 Residential mortgage-backed securities(2) 60,778 3,050 24 63,804 (131 ) Total fixed maturities, available-for-sale $ 5,283,266 $ 422,547 $ 23,843 $ 5,681,970 $ (138 ) (1) Includes credit-tranched securities collateralized by loan obligations, sub-prime mortgages, auto loans, education loans and other asset types. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (3) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $1.7 million of net unrealized gains on impaired available-for-sale securities relating to changes in the value of such securities subsequent to the impairment measurement date. December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI in AOCI(3) (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 75,049 $ 2,427 $ 6 $ 77,470 $ 0 Obligations of U.S. states and their political subdivisions 609,955 15,154 2,351 622,758 0 Foreign government bonds 208,009 2,137 8,199 201,947 0 U.S. public corporate securities 1,739,860 46,166 54,401 1,731,625 0 U.S. private corporate securities 890,748 11,181 18,591 883,338 0 Foreign public corporate securities 270,428 3,746 12,151 262,023 0 Foreign private corporate securities 857,604 9,797 40,022 827,379 0 Asset-backed securities(1) 156,818 1,528 750 157,596 (122 ) Commercial mortgage-backed securities 347,570 3,353 4,527 346,396 0 Residential mortgage-backed securities(2) 88,862 1,268 1,067 89,063 (177 ) Total fixed maturities, available-for-sale $ 5,244,903 $ 96,757 $ 142,065 $ 5,199,595 $ (299 ) (1) Includes credit-tranched securities collateralized by loan obligations, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (3) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $0.4 million of net unrealized losses on impaired available-for-sale securities relating to changes in the value of such securities subsequent to the impairment measurement date. The following tables set forth the fair value and gross unrealized losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the dates indicated: December 31, 2019 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Obligations of U.S. states and their political subdivisions 0 0 0 0 0 0 Foreign government bonds 2,152 1 400 0 2,552 1 U.S. public corporate securities 81,622 984 19,206 1,263 100,828 2,247 U.S. private corporate securities 33,264 780 22,143 226 55,407 1,006 Foreign public corporate securities 3,839 23 9,379 362 13,218 385 Foreign private corporate securities 32,800 921 186,693 18,630 219,493 19,551 Asset-backed securities 32,361 243 55,461 223 87,822 466 Commercial mortgage-backed securities 22,153 163 0 0 22,153 163 Residential mortgage-backed securities 3,049 16 692 8 3,741 24 Total fixed maturities, available-for-sale $ 211,240 $ 3,131 $ 293,974 $ 20,712 $ 505,214 $ 23,843 December 31, 2018 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 630 $ 6 $ 630 $ 6 Obligations of U.S. states and their political subdivisions 124,776 1,571 31,215 780 155,991 2,351 Foreign government bonds 77,055 3,184 59,700 5,015 136,755 8,199 U.S. public corporate securities 784,916 37,635 213,147 16,766 998,063 54,401 U.S. private corporate securities 263,934 9,159 287,031 9,432 550,965 18,591 Foreign public corporate securities 124,764 6,286 72,725 5,865 197,489 12,151 Foreign private corporate securities 424,921 22,605 127,201 17,417 552,122 40,022 Asset-backed securities 112,527 650 6,523 100 119,050 750 Commercial mortgage-backed securities 49,616 434 116,786 4,093 166,402 4,527 Residential mortgage-backed securities 34,249 240 32,432 827 66,681 1,067 Total fixed maturities, available-for-sale $ 1,996,758 $ 81,764 $ 947,390 $ 60,301 $ 2,944,148 $ 142,065 As of December 31, 2019 and 2018 , the gross unrealized losses on fixed maturity securities were composed of $16.0 million and $121.3 million , respectively, related to “1” highest quality or “2” high quality securities based on the National Association of Insurance Commissioners (“NAIC”) or equivalent rating and $7.8 million and $20.8 million , respectively, related to other than high or highest quality securities based on NAIC or equivalent rating. As of December 31, 2019 , the $20.7 million of gross unrealized losses of twelve months or more were concentrated in the Company’s corporate securities within the finance , energy and consumer non-cyclical sectors. As of December 31, 2018 , the $60.3 million of gross unrealized losses of twelve months or more were concentrated in the Company’s corporate securities within the finance , energy and consumer non-cyclical sectors. In accordance with its policy described in Note 2 , the Company concluded that an adjustment to earnings for OTTI for these fixed maturity securities was not warranted at either December 31, 2019 or 2018 . These conclusions were based on a detailed analysis of the underlying credit and cash flows on each security. Gross unrealized losses are primarily attributable to general credit spread widening, increases in interest rates and foreign currency exchange rate movements. As of December 31, 2019 , the Company did not intend to sell these securities, and it was not more likely than not that the Company would be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. The following table sets forth the amortized cost and fair value of fixed maturities by contractual maturities, as of the date indicated: December 31, 2019 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 139,614 $ 140,916 Due after one year through five years 688,411 697,057 Due after five years through ten years 1,073,731 1,115,368 Due after ten years 2,833,282 3,161,973 Asset-backed securities 119,602 119,936 Commercial mortgage-backed securities 367,848 382,916 Residential mortgage-backed securities 60,778 63,804 Total fixed maturities, available-for-sale $ 5,283,266 $ 5,681,970 Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Asset-backed, commercial mortgage-backed and residential mortgage-backed securities are shown separately in the table above, as they do not have a single maturity date. The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on impairments of fixed maturities, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 633,787 $ 234,617 $ 569,151 Proceeds from maturities/prepayments 314,906 326,664 492,944 Gross investment gains from sales and maturities 59,557 1,370 44,458 Gross investment losses from sales and maturities (3,785 ) (11,000 ) (9,956 ) OTTI recognized in earnings(2) (9,034 ) (3,710 ) (7,379 ) (1) Includes $0.0 million , $(0.1) million and $(0.1) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) Excludes the portion of OTTI amounts remaining in OCI, representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of the impairment. The following table sets forth a rollforward of pre-tax amounts remaining in OCI related to fixed maturity securities with credit loss impairments recognized in earnings, for the periods indicated: Years Ended December 31, 2019 2018 (in thousands) Credit loss impairments: Balance in OCI, beginning of period $ 1,291 $ 4,374 New credit loss impairments 3,022 0 Increases due to the passage of time on previously recorded credit losses 32 539 Reductions for securities which matured, paid down, prepaid or were sold during the period (679 ) (2,000 ) Reductions for securities impaired to fair value during the period(1) (3,040 ) (1,136 ) Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected (152 ) (486 ) Balance in OCI, end of period $ 474 $ 1,291 (1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. Equity Securities The net change in unrealized gains (losses) from equity securities still held at period end, recorded within “Other income,” was $(1.0) million and $(2.8) million during the years ended December 31, 2019 and 2018 , respectively. The net change in unrealized gains (losses) from equity securities still held at period end, recorded within "Other comprehensive income (loss)," was $2.0 million during the year ended December 31, 2017 . Commercial Mortgage and Other Loans The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: December 31, 2019 December 31, 2018 Amount (in thousands) % of Total Amount (in thousands) % of Total Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 355,175 28.6 % $ 362,811 29.9 % Hospitality 31,449 2.5 16,083 1.3 Industrial 299,803 24.1 263,999 21.8 Office 205,498 16.6 187,450 15.5 Other 136,841 11.0 131,961 10.9 Retail 190,690 15.4 193,473 16.0 Total commercial mortgage loans 1,219,456 98.2 1,155,777 95.4 Agricultural property loans 22,197 1.8 55,438 4.6 Total commercial mortgage and agricultural property loans by property type 1,241,653 100.0 % 1,211,215 100.0 % Allowance for credit losses (1,768 ) (2,065 ) Total commercial mortgage and other loans $ 1,239,885 $ 1,209,150 As of December 31, 2019 , the commercial mortgage and agricultural property loans were secured by properties geographically dispersed throughout the United States (with the largest concentrations in California ( 19% ), Texas ( 14% ) and New York ( 7% )) and included loans secured by properties in Europe ( 9% ), Mexico ( 2% ), and Australia ( 2% ). The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Balance at December 31, 2016 $ 1,513 $ 45 $ 1,558 Addition to (release of) allowance for credit losses 215 21 236 Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2017 $ 1,728 $ 66 $ 1,794 Addition to (release of) allowance for credit losses 298 (27 ) 271 Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2018 $ 2,026 $ 39 $ 2,065 Addition to (release of) allowance for credit losses (283 ) (14 ) (297 ) Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2019 $ 1,743 $ 25 $ 1,768 The following tables set forth the allowance for credit losses and the recorded investment in commercial mortgage and other loans, as of the dates indicated: December 31, 2019 Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance for credit losses: Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 1,743 25 1,768 Total ending balance(1) $ 1,743 $ 25 $ 1,768 Recorded investment(2): Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 1,219,456 22,197 1,241,653 Total ending balance(1) $ 1,219,456 $ 22,197 $ 1,241,653 (1) As of December 31, 2019 , there were no loans acquired with deteriorated credit quality. (2) Recorded investment reflects the carrying value gross of related allowance. December 31, 2018 Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance for credit losses: Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 2,026 39 2,065 Total ending balance(1) $ 2,026 $ 39 $ 2,065 Recorded investment(2): Individually evaluated for impairment $ 0 $ 816 $ 816 Collectively evaluated for impairment 1,155,777 54,622 1,210,399 Total ending balance(1) $ 1,155,777 $ 55,438 $ 1,211,215 (1) As of December 31, 2018 , there were no loans acquired with deteriorated credit quality. (2) Recorded investment reflects the carrying value gross of related allowance. The following tables set forth certain key credit quality indicators for commercial mortgage and agricultural property loans based upon the recorded investment gross of allowance for credit losses, as of the dates indicated: December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 676,517 $ 18,418 $ 1,912 $ 696,847 60%-69.99% 354,828 12,799 0 367,627 70%-79.99% 149,448 27,506 0 176,954 80% or greater 0 225 0 225 Total commercial mortgage and agricultural property loans $ 1,180,793 $ 58,948 $ 1,912 $ 1,241,653 December 31, 2018 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 696,507 $ 12,771 $ 80 $ 709,358 60%-69.99% 321,586 18,525 0 340,111 70%-79.99% 105,727 27,790 0 133,517 80% or greater 28,000 229 0 28,229 Total commercial mortgage and agricultural property loans $ 1,151,820 $ 59,315 $ 80 $ 1,211,215 The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: December 31, 2019 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,219,456 $ 0 $ 0 $ 0 $ 1,219,456 $ 0 Agricultural property loans 22,197 0 0 0 22,197 0 Total $ 1,241,653 $ 0 $ 0 $ 0 $ 1,241,653 $ 0 (1) As of December 31, 2019 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 . December 31, 2018 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,155,777 $ 0 $ 0 $ 0 $ 1,155,777 $ 0 Agricultural property loans 55,438 0 0 0 55,438 0 Total $ 1,211,215 $ 0 $ 0 $ 0 $ 1,211,215 $ 0 (1) As of December 31, 2018 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 . For the years ended December 31, 2019 and 2018 , there were $0 million and $3 million of commercial mortgage and other loans acquired, other than those through direct origination, respectively. For the years ended December 31, 2019 and 2018 , there were $5 million and $0 million of commercial mortgage and other loans sold, respectively. Other Invested Assets The following table sets forth the composition of “Other invested assets,” as of the dates indicated: December 31, 2019 2018 (in thousands) Company's investment in separate accounts $ 46,573 $ 40,126 LPs/LLCs: Equity method: Private equity 189,095 149,164 Hedge funds 64,002 57,171 Real estate-related 42,432 10,251 Subtotal equity method 295,529 216,586 Fair value: Private equity 62,639 60,118 Hedge funds 562 762 Real estate-related 11,707 9,024 Subtotal fair value 74,908 69,904 Total LPs/LLCs 370,437 286,490 Derivative instruments 12,548 50,813 Total other invested assets $ 429,558 $ 377,429 Equity Method Investments The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities. December 31, 2019 2018 (in thousands) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 26,017,399 $ 3,946,992 Total liabilities(2) $ 164,080 $ 65,903 Partners’ capital 25,853,319 3,881,089 Total liabilities and partners’ capital $ 26,017,399 $ 3,946,992 Total liabilities and partners’ capital included above $ 325,677 $ 269,775 Equity in LP/LLC interests not included above 114,505 83,029 Carrying value $ 440,182 $ 352,804 (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds and other miscellaneous liabilities. Years Ended December 31, 2019 2018 2017 (in thousands) STATEMENTS OF OPERATIONS Total revenue(1) $ 819,904 $ 128,356 $ 319,414 Total expenses(2) (200,666 ) (39,040 ) (31,680 ) Net earnings (losses) $ 619,238 $ 89,316 $ 287,734 Equity in net earnings (losses) included above $ 24,971 $ (2,470 ) $ 12,439 Equity in net earnings (losses) of LP/LLC interests not included above 5,077 (1,452 ) 5,191 Total equity in net earnings (losses) $ 30,048 $ (3,922 ) $ 17,630 (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. Net Investment Income The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities, available-for-sale $ 235,456 $ 220,942 $ 230,060 Fixed maturities, trading 1,374 1,105 834 Equity securities, at fair value 856 885 884 Commercial mortgage and other loans 57,886 49,577 52,127 Policy loans 68,485 66,305 63,884 Short-term investments and cash equivalents 9,266 2,382 1,090 Other invested assets 38,577 2,256 23,518 Gross investment income 411,900 343,452 372,397 Less: investment expenses (18,103 ) (18,165 ) (19,987 ) Net investment income $ 393,797 $ 325,287 $ 352,410 The carrying value of non-income producing assets included $8.4 million in available-for-sale fixed maturities as of December 31, 2019 . Non-income producing assets represent investments that had not produced income for the twelve months preceding December 31, 2019 . Realized Investment Gains (Losses), Net The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities(1) $ 46,738 $ (13,340 ) $ 27,123 Equity securities(2) 0 0 (125 ) Commercial mortgage and other loans 297 (271 ) (337 ) LPs/LLCs (3,400 ) 849 (221 ) Derivatives (160,368 ) (154,208 ) (106,625 ) Short-term investments and cash equivalents (16 ) (308 ) (1 ) Realized investment gains (losses), net $ (116,749 ) $ (167,278 ) $ (80,186 ) (1) Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading. (2) Effective January 1, 2018, realized gains (losses) on equity securities are recorded within “Other income.” Net Unrealized Gains (Losses) on Investments within AOCI The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: December 31, 2019 2018 2017 (in thousands) Fixed maturity securities, available-for-sale—with OTTI $ 1,568 $ (689 ) $ 1,609 Fixed maturity securities, available-for-sale—all other 397,136 (44,619 ) 279,749 Equity securities, available-for-sale(1) 0 0 2,368 Derivatives designated as cash flow hedges(2) 26,126 22,122 (17,678 ) Affiliated notes 4,715 810 4,782 Other investments (4,365 ) 5,055 3,588 Net unrealized gains (losses) on investments $ 425,180 $ (17,321 ) $ 274,418 (1) Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded within “Other income.” (2) For more information on cash flow hedges, see Note 4. Repurchase Agreements and Securities Lending In the normal course of business, the Company sells securities under agreements to repurchase and enters into securities lending transactions. As of both December 31, 2019 and 2018 , the Company had no repurchase agreements. The following table sets forth the composition of “Cash collateral for loaned securities,” which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: December 31, 2019 December 31, 2018 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in thousands) U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 8,169 $ 0 $ 8,169 U.S. public corporate securities 5,048 0 5,048 628 0 628 Foreign public corporate securities 2,481 0 2,481 2,266 0 2,266 Total cash collateral for loaned securities(1) $ 7,529 $ 0 $ 7,529 $ 11,063 $ 0 $ 11,063 (1) The Company did not have agreements with remaining contractual maturities of thirty days or greater, as of the dates indicated. Securities Pledged, Restricted Assets and Special Deposits The Company pledges as collateral investment securities it owns to unaffiliated parties through certain transactions, including securities lending, securities sold under agreements to repurchase, collateralized borrowings and postings of collateral with derivative counterparties. The following table sets forth the carrying value of investments pledged to third parties and the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2019 2018 (in thousands) Pledged collateral: Fixed maturity securities, available-for-sale $ 7,292 $ 10,836 Total securities pledged $ 7,292 $ 10,836 Liabilities supported by the pledged collateral: Cash collateral for loaned securities $ 7,529 $ 11,063 Total liabilities supported by the pledged collateral $ 7,529 $ 11,063 In the normal course of its business activities, the Company accepts collateral that can be sold or repledged. The primary sources of this collateral are securities purchased under agreements to resell. As of December 31, 2019 and 2018 , the fair value of this collateral was $0 million and $143 million , respectively, none of which had either been sold or repledged. As of December 31, 2019 and 2018 , there were available-for-sale fixed maturities of $3.8 million and $3.7 million , respectively, on deposit with governmental authorities or trustees as required by certain insurance laws.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS Types of Derivative Instruments and Derivative Strategies Interest Rate Contracts Interest rate swaps are used by the Company to reduce risks from changes in interest rates, manage interest rate exposures arising from mismatches between assets and liabilities and to hedge against changes in their values it owns or anticipates acquiring or selling. Swaps may be attributed to specific assets or liabilities or to a portfolio of assets or liabilities. Under interest rate swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed upon notional principal amount. Equity Contracts Equity options are used by the Company to manage its exposure to the equity markets which impacts the value of assets and liabilities it owns or anticipates acquiring or selling. Equity index options are contracts which will settle in cash based on differentials in the underlying indices at the time of exercise and the strike price. The Company uses combinations of purchases and sales of equity index options to hedge the effects of adverse changes in equity indices within a predetermined range. Foreign Exchange Contracts Currency derivatives, including currency swaps and forwards, are used by the Company to reduce risks from changes in currency exchange rates with respect to investments denominated in foreign currencies that the Company either holds or intends to acquire or sell. Under currency forwards, the Company agrees with counterparties to deliver a specified amount of an identified currency at a specified future date. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at the specified future date. The Company executes forward sales of the hedged currency in exchange for U.S. dollars at a specified exchange rate. The maturities of these forwards correspond with the future periods in which the non-U.S. dollar-denominated earnings are expected to be generated. Under currency swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between one currency and another at an exchange rate and calculated by reference to an agreed principal amount. Generally, the principal amount of each currency is exchanged at the beginning and termination of the currency swap by each party. Credit Contracts The Company writes credit protection to gain exposure similar to investment in public fixed maturity cash instruments. With these credit derivatives the Company sells credit protection on a single name reference, or certain index reference, and in return receives a quarterly premium. This premium or credit spread generally corresponds to the difference between the yield on the referenced name (or an index’s referenced names) public fixed maturity cash instruments and swap rates, at the time the agreement is executed. If there is an event of default by the referenced name or one of the referenced names in the index, as defined by the agreement, then the Company is obligated to pay the referenced amount of the contract to the counterparty and receive in return the referenced defaulted security or similar security or (in the case of a credit default index) pay the referenced amount less the auction recovery rate. In addition to selling credit protection, the Company purchases credit protection using credit derivatives in order to hedge specific credit exposures in the Company’s investment portfolio. Embedded Derivatives The Company sells certain products (for example, variable annuities and index-linked universal life) which may include guaranteed benefit features that are accounted for as embedded derivatives; related to certain of these derivatives, the Company has entered into reinsurance agreements with both affiliated and unaffiliated parties. Effective April 1, 2016, the Company entered into reinsurance agreements (previously reinsured to Pruco Re) with affiliates, PALAC and Prudential Insurance. See Note 1 for additional information on the reinsurance agreements. Additionally, the Company has entered into a reinsurance agreement with an external counterparty, Union Hamilton Reinsurance, Ltd. ("Union Hamilton"). In regard to no-lapse guarantee provision on certain universal life products, the Company had reinsured a portion of it to an affiliate, UPARC, through June 30, 2017 and recaptured the reinsurance effective July 1, 2017. See Note 9 for additional information on the recapture. These embedded derivatives and reinsurance agreements, also accounted for as derivatives, are carried at fair value and marked to market through “Realized investment gains (losses), net” based on the change in value of the underlying contractual guarantees, which are determined using valuation models, as described in Note 5 . Primary Risks Managed by Derivatives The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral. December 31, 2019 December 31, 2018 Primary Underlying Risk/Instrument Type Gross Notional Fair Value Gross Notional Fair Value Assets Liabilities Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 3,615 $ 0 $ (50 ) $ 0 $ 0 $ 0 Foreign Currency Swaps 773,933 36,551 (12,471 ) 719,476 38,333 (16,638 ) Total Derivatives Designated as Hedge Accounting Instruments $ 777,548 $ 36,551 $ (12,521 ) $ 719,476 $ 38,333 $ (16,638 ) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 569,925 $ 33,256 $ (4,490 ) $ 246,925 $ 15,665 $ (3,174 ) Foreign Currency Foreign Currency Forwards 21,580 0 (518 ) 23,043 277 (20 ) Credit Credit Default Swaps 0 0 0 756 0 (9 ) Currency/Interest Rate Foreign Currency Swaps 151,792 7,563 (1,892 ) 98,363 6,303 (2,109 ) Equity Equity Options 2,680,048 174,398 (78,381 ) 1,981,693 17,312 (4,912 ) Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 3,423,345 $ 215,217 $ (85,281 ) $ 2,350,780 $ 39,557 $ (10,224 ) Total Derivatives (1)(2) $ 4,200,893 $ 251,768 $ (97,802 ) $ 3,070,256 $ 77,890 $ (26,862 ) (1) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $ 8,530 million and $ 5,589 million as of December 31, 2019 and 2018 , respectively included in "Future policy benefits" and $ 962 million and $ 13 million as of December 31, 2019 and 2018 , respectively included in "Policyholders' account balances". The fair value of the related reinsurance, included in "Reinsurance recoverables" or "Other liabilities" was an asset of $ 8,540 million and $ 5,600 million as of December 31, 2019 and 2018 , respectively. (2) Recorded in “Other invested assets” and “Other liabilities” on the Consolidated Statements of Financial Position. Offsetting Assets and Liabilities The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position. December 31, 2019 Gross Amounts of Recognized Financial Instruments Gross Amounts Offset in the Consolidated Statement of Financial Position Net Amounts Presented in the Consolidated Statement of Financial Position Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Offsetting of Financial Liabilities: Derivatives(1) $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 December 31, 2018 Gross Amounts of Recognized Financial Instruments Gross Net Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 77,887 $ (27,078 ) $ 50,809 $ (7,307 ) $ 43,502 Securities purchased under agreements to resell 143,000 0 143,000 (143,000 ) 0 Total Assets $ 220,887 $ (27,078 ) $ 193,809 $ (150,307 ) $ 43,502 Offsetting of Financial Liabilities: Derivatives(1) $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty. For information regarding the rights of offset associated with the derivative assets and liabilities in the table above see “Credit Risk” below and Note 13 . For securities purchased under agreements to resell and securities sold under agreements to repurchase, the Company monitors the value of the securities and maintains collateral, as appropriate, to protect against credit exposure. Where the Company has entered into repurchase and resale agreements with the same counterparty, in the event of default, the Company would generally be permitted to exercise rights of offset. For additional information on the Company’s accounting policy for securities repurchase and resale agreements, see Note 2 to the Consolidated Financial Statements . Cash Flow Hedges The primary derivative instruments used by the Company in its cash flow hedge accounting relationships are currency swaps and interest rate swaps. These instruments are only designated for hedge accounting in instances where the appropriate criteria are met. The Company does not use futures, options, credit and equity derivatives in any of its cash flow hedge accounting relationships. The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship. Year Ended December 31, 2019 Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 0 $ 0 $ 0 $ (50 ) Currency/Interest Rate 425 9,007 (1,698 ) 4,081 Total cash flow hedges 425 9,007 (1,698 ) 4,031 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 18,609 0 0 0 Currency 20 0 0 0 Currency/Interest Rate 3,485 0 (5 ) 0 Credit (1 ) 0 0 0 Equity 74,068 0 0 0 Embedded Derivatives (256,974 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (160,793 ) 0 (5 ) 0 Total $ (160,368 ) $ 9,007 $ (1,703 ) $ 4,031 Year Ended December 31, 2018(2) Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Currency/Interest Rate $ (997 ) $ 6,819 $ 10,066 $ 39,801 Total cash flow hedges (997 ) 6,819 10,066 39,801 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (7,688 ) 0 0 0 Currency 1,475 0 0 0 Currency/Interest Rate 6,395 0 44 0 Credit (2 ) 0 0 0 Equity (27,212 ) 0 0 0 Embedded Derivatives (126,179 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (153,211 ) 0 44 0 Total $ (154,208 ) $ 6,819 $ 10,110 $ 39,801 Year Ended December 31, 2017(2) Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Currency/Interest Rate $ 1,061 $ 6,071 $ (8,234 ) $ (58,609 ) Total cash flow hedges 1,061 6,071 (8,234 ) (58,609 ) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (1,565 ) 0 0 0 Currency (1,316 ) 0 0 0 Currency/Interest Rate (8,306 ) 0 (71 ) 0 Credit (46 ) 0 0 0 Equity 30,466 0 0 0 Embedded Derivatives (126,919 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (107,686 ) 0 (71 ) 0 Total $ (106,625 ) $ 6,071 $ (8,305 ) $ (58,609 ) (1) Net change in AOCI. (2) Prior period amounts have been updated to conform to current period presentation. Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in thousands) Balance, December 31, 2016 $ 40,931 Amount recorded in AOCI Currency/Interest Rate (59,712 ) Total amount recorded in AOCI (59,712 ) Amount reclassified from AOCI to income Currency/Interest Rate 1,103 Total amount reclassified from AOCI to income 1,103 Balance, December 31, 2017 $ (17,678 ) Amount recorded in AOCI Currency/Interest Rate 55,689 Total amount recorded in AOCI 55,689 Amount reclassified from AOCI to income Currency/Interest Rate (15,889 ) Total amount reclassified from AOCI to income (15,889 ) Balance, December 31, 2018 $ 22,122 Cumulative-effect adjustment from the adoption of ASU 2017-12(1) (27 ) Amount recorded in AOCI Interest Rate (50 ) Currency/Interest Rate 11,815 Total amount recorded in AOCI 11,765 Amount reclassified from AOCI to income Currency/Interest Rate (7,734 ) Total amount reclassified from AOCI to income (7,734 ) Balance, December 31, 2019 $ 26,126 (1) See Note 2 for details. The changes in fair value of cash flow hedges are deferred in AOCI and are included in "Net unrealized investment gains (losses)" in the Consolidated Statements of Operations and Comprehensive Income (Loss); these amounts are then reclassified to earnings when the hedged item affects earnings. Using December 31, 2019 values, it is estimated that a pre-tax gain of $8 million is expected to be reclassified from AOCI to earnings during the subsequent twelve months ending December 31, 2020 . The exposures the Company is hedging with these qualifying cash flow hedges include the variability of the payment or receipt of interest or foreign currency amounts on existing financial instruments. There were no material amounts reclassified from AOCI into earnings relating to instances in which the Company discontinued cash flow hedge accounting because the forecasted transaction did not occur by the anticipated date or within the additional time period permitted by the authoritative guidance for the accounting for derivatives and hedging. Credit Derivatives The Company has no exposure from credit derivative positions where it has written credit protection as of December 31, 2019 and 2018 . The Company has purchased credit protection using credit derivatives in order to hedge specific credit exposures in the Company’s investment portfolio. The Company has outstanding notional amounts of $0 million and $1 million reported as of December 31, 2019 and 2018 , respectively with a fair value of $0 million for both periods. Credit Risk The Company is exposed to credit-related losses in the event of non-performance by counterparty to financial derivative transactions with a positive fair value. The Company manages credit risk by entering into derivative transactions with its affiliate, Prudential Global Funding LLC (“PGF”), related to its OTC derivatives. PGF, in turn, manages its credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreement, as applicable; (ii) trading through central clearing and OTC parties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	FAIR VALUE OF ASSETS AND LIABILITIES Fair Value Measurement – Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative fair value guidance establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1 - Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. The Company’s Level 1 assets and liabilities primarily include certain cash equivalents and equity securities that trade on an active exchange market. Level 2 - Fair value is based on significant inputs, other than quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, and other market observable inputs. The Company’s Level 2 assets and liabilities include: fixed maturities (corporate public and private bonds, most government securities, certain asset-backed and mortgage-backed securities, etc.), certain equity securities (mutual funds, which do not trade in active markets because they are not publicly available), certain short-term investments, certain cash equivalents, and certain OTC derivatives. Level 3 - Fair value is based on at least one significant unobservable input for the asset or liability. The assets and liabilities in this category may require significant judgment or estimation in determining the fair value. The Company’s Level 3 assets and liabilities primarily include: certain private fixed maturities and equity securities, certain manually priced public fixed maturities, certain highly structured OTC derivative contracts, and embedded derivatives resulting from reinsurance or certain products with guaranteed benefits. Assets and Liabilities by Hierarchy Level - The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated. As of December 31, 2019 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 47,797 $ 38,671 $ 0 $ 86,468 Obligations of U.S. states and their political subdivisions 0 497,827 0 0 497,827 Foreign government bonds 0 222,663 163 0 222,826 U.S. corporate public securities 0 2,141,324 3 0 2,141,327 U.S. corporate private securities 0 893,943 35,829 0 929,772 Foreign corporate public securities 0 278,435 181 0 278,616 Foreign corporate private securities 0 944,408 14,070 0 958,478 Asset-backed securities(2) 0 117,935 2,001 0 119,936 Commercial mortgage-backed securities 0 382,916 0 0 382,916 Residential mortgage-backed securities 0 63,804 0 0 63,804 Subtotal 0 5,591,052 90,918 0 5,681,970 Fixed maturities, trading 0 59,296 668 0 59,964 Equity securities 131 465 9,898 0 10,494 Short-term investments 0 0 0 0 0 Cash equivalents 0 547,642 0 0 547,642 Other invested assets(3) 0 251,764 4 (239,220 ) 12,548 Reinsurance recoverables 0 0 8,539,671 0 8,539,671 Receivables from parent and affiliates 0 119,431 3,135 0 122,566 Subtotal excluding separate account assets 131 6,569,650 8,644,294 (239,220 ) 14,974,855 Separate account assets(4)(5) 0 133,625,669 0 0 133,625,669 Total assets $ 131 $ 140,195,319 $ 8,644,294 $ (239,220 ) $ 148,600,524 Future policy benefits(6) $ 0 $ 0 $ 8,529,566 $ 0 $ 8,529,566 Policyholders' account balances 0 0 962,351 0 962,351 Payables to parent and affiliates 0 97,802 0 (97,802 ) 0 Total liabilities $ 0 $ 97,802 $ 9,491,917 $ (97,802 ) $ 9,491,917 As of December 31, 2018 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 47,654 $ 29,816 $ 0 $ 77,470 Obligations of U.S. states and their political subdivisions 0 622,758 0 0 622,758 Foreign government bonds 0 201,947 0 0 201,947 U.S. corporate public securities 0 1,731,623 2 0 1,731,625 U.S. corporate private securities 0 838,497 44,841 0 883,338 Foreign corporate public securities 0 262,023 0 0 262,023 Foreign corporate private securities 0 815,634 11,745 0 827,379 Asset-backed securities(2) 0 151,040 6,556 0 157,596 Commercial mortgage-backed securities 0 346,396 0 0 346,396 Residential mortgage-backed securities 0 89,063 0 0 89,063 Subtotal 0 5,106,635 92,960 0 5,199,595 Fixed maturities, trading 0 41,627 0 0 41,627 Equity securities 131 20,794 15,997 0 36,922 Short-term investments 0 0 0 0 0 Cash equivalents 69,903 147,043 0 0 216,946 Other invested assets(3) 0 77,886 4 (27,078 ) 50,812 Reinsurance recoverables 0 0 5,600,008 0 5,600,008 Receivables from parent and affiliates 0 125,381 9,261 0 134,642 Subtotal excluding separate account assets 70,034 5,519,366 5,718,230 (27,078 ) 11,280,552 Separate account assets(4)(5) 0 114,947,872 0 0 114,947,872 Total assets $ 70,034 $ 120,467,238 $ 5,718,230 $ (27,078 ) $ 126,228,424 Future policy benefits(6) $ 0 $ 0 $ 5,588,840 $ 0 $ 5,588,840 Policyholders' account balances 0 0 13,015 0 13,015 Payables to parent and affiliates 0 26,862 0 (26,862 ) 0 Total liabilities $ 0 $ 26,862 $ 5,601,855 $ (26,862 ) $ 5,601,855 (1) “Netting” amounts represent cash collateral of $141.4 million and $0.2 million as of December 31, 2019 and 2018 , respectively. (2) Includes credit tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (3) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. At December 31, 2019 and 2018 , the fair values of such investments were $75 million and $70 million , respectively. (4) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Consolidated Statements of Financial Position. (5) Separate account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate, hedge funds and a corporate owned life insurance fund, for which fair value is measured at NAV per share (or its equivalent). At December 31, 2019 and 2018 , the fair value of such investments was $4,762 million and $4,130 million , respectively. (6) As of December 31, 2019 , the net embedded derivative liability position of $8,530 million includes $611 million of embedded derivatives in an asset position and $9,141 million of embedded derivatives in a liability position. As of December 31, 2018 , the net embedded derivative liability position of $5,589 million includes $633 million of embedded derivatives in an asset position and $6,222 million of embedded derivatives in a liability position. The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed Maturity Securities - The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. The pricing hierarchy is updated for new financial products and recent pricing experience with various vendors. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Typical inputs used by these pricing services include but are not limited to, reported trades, benchmark yields, issuer spreads, bids, offers, and/or estimated cash flow, prepayment speeds, and default rates. If the pricing information received from third-party pricing services is deemed not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service or classify the securities as Level 3. If the pricing service updates the price to be more consistent with the presented market observations, the security remains within Level 2. Internally-developed valuations or indicative broker quotes are also used to determine fair value in circumstances where vendor pricing is not available, or where the Company ultimately concludes that pricing information received from the independent pricing services is not reflective of market activity. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information with an internally-developed valuation. As of December 31, 2019 and 2018, overrides on a net basis were not material. Pricing service overrides, internally-developed valuations and indicative broker quotes are generally included in Level 3 in the fair value hierarchy. The Company conducts several specific price monitoring activities. Daily analyses identify price changes over predetermined thresholds defined at the financial instrument level. Various pricing integrity reports are reviewed on a daily and monthly basis to determine if pricing is reflective of market activity or if it would warrant any adjustments. Other procedures performed include, but are not limited to, reviews of third-party pricing services methodologies, reviews of pricing trends, and back testing. The fair values of private fixed maturities, which are originated by internal private asset managers, are primarily determined using discounted cash flow models. These models primarily use observable inputs that include Treasury or similar base rates plus estimated credit spreads to value each security. The credit spreads are obtained through a survey of private market intermediaries who are active in both primary and secondary transactions, and consider, among other factors, the credit quality and the reduced liquidity associated with private placements. Internal adjustments are made to reflect variation in observed sector spreads. Since most private placements are valued using standard market observable inputs and inputs derived from, or corroborated by, market observable data including, but not limited to observed prices and spreads for similar publicly or privately traded issues, they have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the price of a security, a Level 3 classification is made. Equity Securities - Equity securities consist principally of investments in common and preferred stock of publicly traded companies, privately traded securities, as well as mutual fund shares. The fair values of most publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for most privately traded equity securities are determined using discounted cash flow, earnings multiple and other valuation models that require a substantial level of judgment around inputs and therefore are classified within Level 3. The fair values of mutual fund shares that transact regularly (but do not trade in active markets because they are not publicly available) are based on transaction prices of identical fund shares and are classified within Level 2 in the fair value hierarchy. Derivative Instruments - Derivatives are recorded at fair value either as assets, within “Other invested assets”, or as liabilities within “Payables to parent and affiliates”, except for embedded derivatives which are recorded with the associated host contract. The fair values of derivative contracts can be affected by changes in interest rates, foreign exchange rates, credit spreads, market volatility, expected returns, NPR, liquidity and other factors. The Company's exchange-traded futures and options include treasury and equity futures. Exchange-traded futures and options are valued using quoted prices in active markets and are classified within Level 1 in the fair value hierarchy. The majority of the Company’s derivative positions are traded in the OTC derivative market and are classified within Level 2 in the fair value hierarchy. OTC derivatives classified within Level 2 are valued using models that utilize actively quoted or observable market input values from external market data providers, third-party pricing vendors and/or recent trading activity. The Company’s policy is to use mid-market pricing in determining its best estimate of fair value. The fair values of most OTC derivatives, including interest rate and cross-currency swaps, currency forward contracts and single name credit default swaps are determined using discounted cash flow models. The fair values of European style option contracts are determined using Black-Scholes option pricing models. These models’ key inputs include the contractual terms of the respective contract, along with significant observable inputs, including interest rates, currency rates, credit spreads, equity prices, index dividend yields, NPR, volatility and other factors. The Company’s cleared interest rate swaps and credit derivatives linked to an index are valued using models that utilize actively quoted or observable market inputs, including Overnight Indexed Swap discount rates, obtained from external market data providers, third-party pricing vendors and/or recent trading activity. These derivatives are classified as Level 2 in the fair value hierarchy. Cash Equivalents and Short-Term Investments - Cash equivalents and short-term investments include money market instruments and other highly liquid debt instruments. Certain money market instruments are valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The remaining instruments in this category are generally fair valued based on market observable inputs and these investments have primarily been classified within Level 2. Separate Account Assets - Separate account assets include fixed maturity securities, treasuries, equity securities, real estate, mutual funds and commercial mortgage loans for which values are determined consistent with similar instruments described above under “Fixed Maturity Securities” and “Equity Securities”. Receivables from Parent and Affiliates - Receivables from parent and affiliates carried at fair value include affiliated bonds within the Company’s legal entity where fair value is determined consistent with similar securities described above under “Fixed Maturity Securities” managed by affiliated asset managers. Reinsurance Recoverables - Reinsurance recoverables carried at fair value include the reinsurance of the Company’s living benefit guarantees on certain variable annuity contracts. These guarantees are accounted for as embedded derivatives and are recorded in “Reinsurance recoverables” or “Other liabilities” when fair value is in an asset or liability position, respectively. The methods and assumptions used to estimate the fair value are consistent with those described below in “Future policy benefits”. The reinsurance agreements covering these guarantees are derivatives with fair value determined in the same manner as the living benefit guarantee. Future Policy Benefits - The liability for future policy benefits is related to guarantees primarily associated with the living benefit features of certain variable annuity contracts, including guaranteed minimum accumulation benefits ("GMAB"), guaranteed withdrawal benefits ("GMWB") and guaranteed minimum income and withdrawal benefits ("GMIWB"), accounted for as embedded derivatives. The fair values of these liabilities are calculated as the present value of future expected benefit payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. This methodology could result in either a liability or contra-liability balance, given changing capital market conditions and various actuarial assumptions. Since there is no observable active market for the transfer of these obligations, the valuations are calculated using internally developed models with option pricing techniques. The models are based on a risk neutral valuation framework and incorporate premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows. The determination of these risk premiums requires the use of management's judgment. The significant inputs to the valuation models for these embedded derivatives include capital market assumptions, such as interest rate levels and volatility assumptions, the Company’s market-perceived NPR, as well as actuarially determined assumptions, including contractholder behavior, such as lapse rates, benefit utilization rates, withdrawal rates and mortality rates. Since many of these assumptions are unobservable and are considered to be significant inputs to the liability valuation, the liability included in future policy benefits has been reflected within Level 3 in the fair value hierarchy. Capital market inputs and actual policyholders’ account values are updated each quarter based on capital market conditions as of the end of the quarter, including interest rates, equity markets and volatility. In the risk neutral valuation, the initial swap curve drives the total return used to grow the policyholders’ account values. The Company’s discount rate assumption is based on the London Inter Bank Offered Rate ("LIBOR") swap curve adjusted for an additional spread relative to LIBOR to reflect NPR. Actuarial assumptions, including contractholder behavior and mortality, are reviewed at least annually, and updated based upon emerging experience, future expectations and other data, including any observable market data. These assumptions are generally updated annually unless a material change that the Company feels is indicative of a long-term trend is observed in an interim period. Policyholders' Account Balances - The liability for policyholders’ account balances is related to certain embedded derivative instruments associated with certain universal life products that provide the policyholders with the index-linked interest credited over contract specified term periods. The fair values of these liabilities are determined using discounted cash flow models which include capital market assumptions such as interest rates and equity index volatility assumptions, the Company’s market-perceived NPR and actuarially determined assumptions for mortality, lapses and projected hedge costs. As there is no observable active market for these liabilities, the fair value is determined as the present value of account balances paid to policyholders in excess of contractually guaranteed minimums using option pricing techniques for index term periods that contain deposits as of the valuation date, and the expected option budget for future index term periods, where the terms of index crediting rates have not yet been declared by the company. Premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows are also incorporated in the fair value of these liabilities. The determination of these risk premiums requires the use of management’s judgment, and hence these liabilities are reflected within Level 3 in the fair value hierarchy. Capital market inputs, including interest rates and equity markets volatility, and actual policyholders’ account values are updated each quarter. Actuarial assumptions are reviewed at least annually and updated based upon emerging experience, future expectations and other data, including any observable market data. Aside from these annual updates, assumptions are generally updated only if a material change is observed in an interim period that the Company believes is indicative of a long-term trend. Quantitative Information Regarding Internally-Priced Level 3 Assets and Liabilities - The tables below present quantitative information on significant internally-priced Level 3 assets and liabilities. As of December 31, 2019 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 27,816 Discounted cash flow Discount rate 5.24 % 17.47 % 8.25 % Decrease Market Comparables EBITDA multiples(3) 5.7 X 5.7 X 5.7 X Increase Reinsurance recoverables $ 8,539,671 Fair values are determined using the same unobservable inputs as future policy benefits. Liabilities: Future policy benefits(4) $ 8,529,566 Discounted cash flow Lapse rate(6) 1 % 18 % Decrease Spread over LIBOR(7) 0.10 % 1.23 % Decrease Utilization rate(8) 43 % 97 % Increase Withdrawal rate See table footnote (9) below. Mortality rate(10) 0 % 15 % Decrease Equity volatility curve 13 % 23 % Increase Policyholders' account balances(5) $ 962,351 Discounted cash flow Lapse rate(6) 1 % 6 % Decrease Spread over LIBOR(7) 0.10 % 1.23 % Decrease Mortality rate(10) 0 % 24 % Decrease Equity volatility curve 10 % 23 % Increase As of December 31, 2018 Fair Value Valuation Techniques Unobservable Inputs Minimum Maximum Weighted Average Impact of Increase in Input on Fair Value(1) (in thousands) Assets: Corporate securities(2) $ 31,503 Discounted cash flow Discount rate 7 % 20 % 10.21 % Decrease Liquidation Liquidation value 40.71 % 40.71 % 40.71 % Increase Reinsurance recoverables $ 5,600,008 Fair values are determined using the same unobservable inputs as future policy benefits. Liabilities: Future policy benefits(4) $ 5,588,840 Discounted cash flow Lapse rate(6) 1 % 13 % Decrease Spread over LIBOR(7) 0.36 % 1.60 % Decrease Utilization rate(8) 50 % 97 % Increase Withdrawal rate See table footnote (9) below. Mortality rate(10) 0 % 15 % Decrease Equity volatility curve 18 % 22 % Increase (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities and available-for-sale. (3) Represents multiples of earnings before interest, taxes, depreciation and amortization "EBITDA", and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (4) Future policy benefits primarily represent general account liabilities for the living benefit features of the Company’s variable annuity contracts which are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (5) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (6) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (7) The spread over the LIBOR swap curve represents the premium added to the proxy for the risk-free rate (LIBOR) to reflect the Company's estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. (8) The utilization rate assumption estimates the percentage of contracts that will utilize the benefit during the contract duration and begin lifetime withdrawals at various time intervals from contract inception. The remaining contractholders are assumed to either begin lifetime withdrawals immediately or never utilize the benefit. Utilization assumptions may vary by product type, tax status and age. The impact of changes in these assumptions is highly dependent on the product type, the age of the contractholder at the time of the sale, and the timing of the first lifetime income withdrawal. Range reflects the utilization rate for the vast majority of business with living benefits. (9) The withdrawal rate assumption estimates the magnitude of annual contractholder withdrawals relative to the maximum allowable amount under the contract. These assumptions vary based on the age of the contractholder, the tax status of the contract and the duration since the contractholder began lifetime withdrawals. As of both December 31, 2019 and 2018 , the minimum withdrawal rate assumption is 78% and the maximum withdrawal rate assumption may be greater than 100% . The fair value of the liability will generally increase the closer the withdrawal rate is to 100% and decrease as the withdrawal rate moves further away from 100%. (10) The range reflects the mortality rates for the vast majority of business with living benefits and other contracts, with policyholders ranging from 45 to 90 years old. While the majority of living benefits have a minimum age requirement, certain other contracts do not have an age restriction. This results in contractholders with mortality rates approaching 0% for certain benefits. Mortality rates may vary by product, age, and duration. A mortality improvement assumption is also incorporated into the overall mortality table. Interrelationships Between Unobservable Inputs – In addition to the sensitivities of fair value measurements to changes in each unobservable input in isolation, as reflected in the table above, interrelationships between these inputs may also exist, such that a change in one unobservable input may give rise to a change in another, or multiple, inputs. Examples of such interrelationships for significant internally-priced Level 3 assets and liabilities are as follows: Corporate Securities – The rate used to discount future cash flows reflects current risk-free rates plus credit and liquidity spread requirements that market participants would use to value an asset. The discount rate may be influenced by many factors, including market cycles, expectations of default, collateral, term, and asset complexity. Each of these factors can influence discount rates, either in isolation, or in response to other factors. Future Policy Benefits – The Company expects efficient benefit utilization and withdrawal rates to generally be correlated with lapse rates. However, behavior is generally highly dependent on the facts and circumstances surrounding the individual contractholder, such as their liquidity needs or tax situation, which could drive lapse behavior independent of other contractholder behavior assumptions. To the extent more efficient contractholder behavior results in greater in-the-moneyness at the contract level, lapse rates may decline for those contracts. Similarly, to the extent that increases in equity volatility are correlated with overall declines in the capital markets, lapse rates may decline as contracts become more in-the-money. Changes in Level 3 Assets and Liabilities – The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods. When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses)(1) Purchases Sales Issuances Settlements Other(2) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(3) (in thousands) Fixed maturities, available-for-sale: U.S. government $ 29,816 $ 0 $ 8,855 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 38,671 $ 0 Foreign government 0 4 0 0 0 0 0 159 0 163 0 Corporate securities(4) 56,588 (5,229 ) 4,226 (81 ) 0 (18,884 ) 0 13,463 0 50,083 (8,467 ) Structured securities(5) 6,556 1,322 0 (130 ) 0 (6,336 ) 0 77,660 (77,071 ) 2,001 0 Other assets: Fixed maturities, trading 0 (83 ) 0 0 0 0 0 751 0 668 (83 ) Equity securities 15,997 1,668 0 (7,767 ) 0 0 0 0 0 9,898 1,534 Other invested assets 4 0 0 0 0 0 0 0 0 4 0 Short-term investments 0 0 1,388 0 0 (1,388 ) 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 0 0 0 Reinsurance recoverables 5,600,008 1,936,363 1,003,300 0 0 0 0 0 0 8,539,671 2,142,421 Receivables from parent and affiliates 9,261 190 0 0 0 (6,316 ) 0 0 0 3,135 0 Liabilities: Future policy benefits (5,588,840 ) (1,945,323 ) 0 0 (995,403 ) 0 0 0 0 (8,529,566 ) (2,151,380 ) Policyholders' account balances(6) (13,015 ) (765,917 ) 0 0 (183,419 ) 0 0 0 0 (962,351 ) (759,661 ) Year Ended December 31, 2019 Total realized and unrealized gains (losses) Unrealized gains (losses) for asse

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	DEFERRED POLICY ACQUISITION COSTS The balances of and changes in DAC as of and for the years ended December 31, are as follows: 2019 2018 2017 (in thousands) Balance, beginning of year $ 1,613,922 $ 1,376,211 $ 1,341,093 Capitalization of commissions, sales and issue expenses 451,773 346,885 278,892 Amortization-Impact of assumption and experience unlocking and true-ups (34,619 ) (54,772 ) (16,140 ) Amortization-All other (78,699 ) (81,054 ) (78,867 ) Change in unrealized investment gains and losses (37,337 ) 26,652 (5,363 ) Other(1) (59,342 ) 0 (143,404 ) Balance, end of year $ 1,855,698 $ 1,613,922 $ 1,376,211 (1) Represents ceded DAC upon reinsurance agreement with Prudential Arizona Reinsurance Term Company and Prudential Arizona Reinsurance Captive Company in 2019 and Gibraltar Universal Life Reinsurance Company ("GUL Re") in 2017. See Note 9 for additional information.

Policyholders' Liabilities

Policyholders' Liabilities	12 Months Ended
	Dec. 31, 2019
Liability for Future Policy Benefit, before Reinsurance [Abstract]
Policyholders' Liabilities	POLICYHOLDERS’ LIABILITIES Future Policy Benefits Future policy benefits at December 31 for the years indicated are as follows: 2019 2018 (in thousands) Life insurance – domestic $ 14,522,350 $ 11,831,419 Life insurance – Taiwan 1,493,716 1,408,598 Individual and group annuities and supplementary contracts 677,266 609,457 Other contract liabilities 8,565,341 5,626,920 Total future policy benefits $ 25,258,673 $ 19,476,394 Life insurance liabilities include reserves for death benefits. Individual and group annuities and supplementary contract liabilities include reserves for life contingent immediate annuities and life contingent group annuities. Other contract liabilities include unearned premiums and certain other reserves for annuities and individual life products. Future policy benefits for domestic and Taiwanese individual non-participating traditional life insurance policies are generally equal to the present value of future benefit payments and related expenses, less the present value of future net premiums. Assumptions as to mortality, morbidity and persistency are based on the Company’s experience, industry data, and/or other factors, when the basis of the reserve is established. Interest rates used in the determination of the present values range from 1.7% to 7.8% for setting domestic insurance reserves and 6.2% to 7.4% for setting Taiwanese reserves. Future policy benefits for individual and group annuities and supplementary contracts with life contingencies are generally equal to the present value of expected future payments. Assumptions as to mortality are based on the Company’s experience, industry data, and/or other factors, when the basis of the reserve is established. The interest rates used in the determination of the present values generally range from 0.0% to 14.8% , with less than 0.4% of the reserves based on an interest rate in excess of 8.0% . The Company’s liability for future policy benefits are primarily liabilities for guaranteed benefits related to certain long-duration life and annuity contracts. Liabilities for guaranteed benefits with embedded derivative features are primarily in "Other contract liabilities" in the table above. The remaining liabilities for guaranteed benefits are primarily reflected with the underlying contract. The interest rates used in the determination of the present values range from 1.9% to 3.3% . See Note 8 for additional information regarding liabilities for guaranteed benefits related to certain long-duration life and annuity contracts. Policyholders’ Account Balances Policyholders’ account balances at December 31 for the years indicated are as follows: 2019 2018 (in thousands) Interest-sensitive life contracts $ 17,793,669 $ 17,167,713 Individual annuities 3,613,971 3,444,327 Guaranteed interest accounts 207,038 240,886 Other 1,264,145 1,206,766 Total policyholders’ account balances $ 22,878,823 $ 22,059,692 Policyholders’ account balances represent an accumulation of account deposits plus credited interest less withdrawals, expenses and mortality charges, if applicable. These policyholders’ account balances also include provisions for benefits under non-life contingent payout annuities. Interest crediting rates range from 1.9% to 4.6% for interest-sensitive life contracts. Interest crediting rates for individual annuities range from 0.0% to 6.3% . Interest crediting rates for guaranteed interest accounts range from 1.0% to 4.1% . Interest crediting rates range from 0.5% to 8.0%

Certain Long-Duration Contracts

Certain Long-Duration Contracts With Guarantees	12 Months Ended
	Dec. 31, 2019
Long-Duration Contracts, Assumptions Supporting Guarantee Obligations [Abstract]
Certain Long-Duration Contracts With Guarantees	CERTAIN LONG-DURATION CONTRACTS WITH GUARANTEES The Company issues variable annuity contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. The Company also issues variable annuity contracts with general and separate account options where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals (“return of net deposits”). In certain of these variable annuity contracts, the Company also contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return (“minimum return”), and/or (2) the highest contract value on a specified date adjusted for any withdrawals (“contract value”). These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issued annuity contracts with market value adjusted investment options (“MVAs”), which provide for a return of principal plus a fixed rate of return if held to maturity, or, alternatively, a “market adjusted value” if surrendered prior to maturity or if funds are reallocated to other investment options. The market value adjustment may result in a gain or loss to the Company, depending on crediting rates or an indexed rate at surrender, as applicable. The Company also issued fixed deferred annuity contracts without MVA that have a guaranteed credited rate and annuity benefit. In addition, the Company issues certain variable life, variable universal life and universal life contracts where the Company contractually guarantees to the contractholder a death benefit even when there is insufficient value to cover monthly mortality and expense charges, whereas otherwise the contract would typically lapse (“no-lapse guarantee”). Variable life and variable universal life contracts are offered with general and separate account options. The assets supporting the variable portion of all variable annuities are carried at fair value and reported as “Separate account assets” with an equivalent amount reported as “Separate account liabilities.” Amounts assessed against the contractholders for mortality, administration, and other services are included within revenue in “Policy charges and fee income” and changes in liabilities for minimum guarantees are generally included in “Policyholders’ benefits” or “Realized investment gains (losses), net.” For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility and contractholder behavior. The Company’s contracts with guarantees may offer more than one type of guarantee in each contract; therefore, the amounts listed may not be mutually exclusive. The liabilities related to the net amount at risk are reflected within “Future policy benefits”. As of December 31, 2019 and 2018 , the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2019 December 31, 2018 In the Event of At Annuitization/ In the Event of At Annuitization/ Accumulation(1)(2) (in thousands) Annuity Contracts Return of net deposits Account value $ 101,413,706 N/A $ 87,412,536 N/A Net amount at risk $ 23,061 N/A $ 656,027 N/A Average attained age of contractholders 67 years N/A 66 years N/A Minimum return or contract value Account value $ 20,008,013 $ 111,734,329 $ 18,574,416 $ 97,055,710 Net amount at risk $ 1,423,229 $ 2,214,835 $ 3,186,237 $ 4,510,250 Average attained age of contractholders 70 years 68 years 70 years 67 years Average period remaining until earliest expected annuitization N/A 0 years N/A 0 years (1) Balances are gross of reinsurance. (2) Includes income and withdrawal benefits. December 31, 2019 December 31, 2018 In the Event of Death(1)(2) (in thousands) Variable Life, Variable Universal Life and Universal Life Contracts Separate account value $ 3,781,929 $ 3,301,084 General account value $ 9,169,757 $ 8,224,464 Net amount at risk $ 147,370,237 $ 144,225,578 Average attained age of contractholders 55 years 55 years (1) Balances are gross of reinsurance. (2) Excludes assumed reinsurance of GUL business from Prudential Insurance in connection with the acquisition of The Hartford Life Business that is retroceded 100% to PAR U. Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows: December 31, 2019(1) December 31, 2018(1) (in thousands) Equity funds $ 67,526,437 $ 56,191,438 Bond funds 48,484,071 44,794,947 Money market funds 1,877,377 1,610,279 Total $ 117,887,885 $ 102,596,664 (1) Balances are gross of reinsurance. In addition to the amounts invested in separate account investment options above, $3.5 billion at December 31, 2019 and $3.4 billion at December 31, 2018 of account balances of variable annuity contracts with guarantees, inclusive of contracts with MVA features, were invested in general account investment options. For the years ended December 31, 2019 , 2018 and 2017 there were no transfers of assets, other than cash, from the general account to any separate account, and accordingly no gains or losses recorded. Liabilities for Guarantee Benefits The table below summarizes the changes in general account liabilities for guarantees. The liabilities for GMDB and GMIB are included in “Future policy benefits” and the related changes in the liabilities are included in “Policyholders' benefits”. GMAB, GMWB and GMIWB are accounted for as embedded derivatives and are recorded at fair value within “Future policy benefits”. Changes in the fair value of these derivatives, including changes in the Company’s own risk of non-performance, along with any fees attributed or payments made relating to the derivative, are recorded in “Realized investment gains (losses), net.” See Note 5 for additional information regarding the methodology used in determining the fair value of these embedded derivatives. The Company maintains a portfolio of derivative investments that serve as a partial hedge of the risks associated with these products, for which the changes in fair value are also recorded in "Realized investment gains (losses), net." This portfolio of derivative investments does not qualify for hedge accounting treatment under U.S. GAAP. Additionally, the Company externally reinsures the guaranteed benefit features associated with certain contracts. See Note 9 for further information regarding the external reinsurance arrangement. GMDB GMIB GMWB/GMIWB/ GMAB Total Variable Annuity Variable Life, Variable Universal Life & Universal Life Variable Annuity (in thousands) Balance at December 31, 2016 $ 387,993 $ 4,058,181 $ 27,038 $ 5,041,008 $ 9,514,220 Incurred guarantee benefits(1) 16,999 808,834 (8,653 ) 411,575 1,228,755 Paid guarantee benefits (25,942 ) (14,642 ) (1,377 ) 0 (41,961 ) Change in unrealized investment gains and losses 11,288 144,937 123 0 156,348 Balance at December 31, 2017 390,338 4,997,310 17,131 5,452,583 10,857,362 Incurred guarantee benefits(1) 71,467 717,444 1,889 136,256 927,056 Paid guarantee benefits (35,800 ) (76,944 ) (2,032 ) 0 (114,776 ) Change in unrealized investment gains and losses (14,437 ) (405,956 ) (178 ) 0 (420,571 ) Balance at December 31, 2018 411,568 5,231,854 16,810 5,588,839 11,249,071 Incurred guarantee benefits(1) 52,717 1,473,762 2,266 2,940,727 4,469,472 Paid guarantee benefits (25,992 ) (110,642 ) (2,209 ) 0 (138,843 ) Change in unrealized investment gains and losses 22,208 805,259 240 0 827,707 Balance at December 31, 2019 $ 460,501 $ 7,400,233 $ 17,107 $ 8,529,566 $ 16,407,407 (1) Incurred guarantee benefits include the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves. Also includes changes in the fair value of features considered to be derivatives. The GMDB, which includes the liability for no-lapse guarantees, and GMIB liability are established when associated assessments (which include all policy charges including charges for administration, mortality, expense, surrender, and other, regardless of how characterized) are recognized. This liability is established using current best estimate assumptions and is based on the ratio of the present value of total expected excess payments (e.g., payments in excess of account value) over the life of the contract divided by the present value of total expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. Similar to as described above for DAC, the reserves are subject to adjustments based on annual reviews of assumptions and quarterly adjustments for experience, including market performance. These adjustments reflect the impact on the benefit ratio of using actual historical experience from the issuance date to the balance sheet date plus updated estimates of future experience. The updated benefit ratio is then applied to all prior periods’ assessments to derive an adjustment to the reserve recognized through a benefit or charge to current period earnings. The GMAB features provide the contractholder with a guaranteed return of initial account value or an enhanced value if applicable. The most significant of the Company’s GMAB features are the guaranteed return option features, which includes an automatic rebalancing element that reduces the Company’s exposure to these guarantees. The GMAB liability is calculated as the present value of future expected payments in excess of the account balance less the present value of future expected rider fees attributable to the embedded derivative feature. The GMWB features provide the contractholder with access to a guaranteed remaining balance if the account value is reduced to zero through a combination of market declines and withdrawals. The guaranteed remaining balance is generally equal to the protected value under the contract, which is initially established as the greater of the account value or cumulative deposits when withdrawals commence, less cumulative withdrawals. The contractholder also has the option, after a specified time period, to reset the guaranteed remaining balance to the then-current account value, if greater. The contractholder accesses the guaranteed remaining balance through payments over time, subject to maximum annual limits. The GMWB liability is calculated as the present value of future expected payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. The GMIWB features, taken collectively, provide a contractholder two optional methods to receive guaranteed minimum payments over time, a “withdrawal” option or an “income” option. The withdrawal option (which was available under only one of the GMIWBs and is no longer offered) guarantees that a contractholder can withdraw an amount each year until the cumulative withdrawals reach a total guaranteed balance. The income option (which varies among the Company’s GMIWBs), in general, guarantees the contractholder the ability to withdraw an amount each year for life (or for joint lives, in the case of any spousal version of the benefit) where such amount is equal to a percentage of a protected value under the benefit. The contractholder also has the potential to increase this annual amount, based on certain subsequent increases in account value that may occur. The GMIWB can be elected by the contractholder upon issuance of an appropriate deferred variable annuity contract or at any time following contract issue prior to annuitization. Certain GMIWB features include an automatic rebalancing element that reduces the Company’s exposure to these guarantees. The GMIWB liability is calculated as the present value of future expected payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. Sales Inducements The Company defers sales inducements and amortizes them over the anticipated life of the policy using the same methodology and assumptions used to amortize DAC. The Company has offered various types of sales inducements, including: (1) a bonus whereby the policyholder’s initial account balance is increased by an amount equal to a specified percentage of the customer’s initial deposit and (2) additional credits after a certain number of years a contract is held. There were no deferred sales inducements balances at December 31, 2019 and 2018 because they were fully ceded.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
Reinsurance	REINSURANCE The Company participates in reinsurance with its affiliates Prudential Life Insurance Company of Taiwan Inc. (“Prudential of Taiwan”), Prudential Arizona Reinsurance Captive Company (“PARCC”), Prudential Arizona Reinsurance Term Company (“PAR Term”), Prudential Arizona Reinsurance Universal Company (“PAR U”), Prudential Universal Reinsurance Company ("PURC"), Prudential Term Reinsurance Company (“Term Re”), PALAC, Gibraltar Universal Life Reinsurance Company ("GUL Re") and Dryden Arizona Reinsurance Term Company (“DART”), its parent company Prudential Insurance, as well as third parties. The reinsurance agreements provide risk diversification and additional capacity for future growth, limit the maximum net loss potential, manage statutory capital, and facilitate the Company's capital market hedging program. Life reinsurance is accomplished through various plans of reinsurance, primarily yearly renewable term and coinsurance. 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 the Company under the terms of the reinsurance agreements. The Company believes a material reinsurance liability resulting from such inability of reinsurers to meet their obligations is unlikely. Reserves related to reinsured long-duration contracts are accounted for using assumptions consistent with those used to account for the underlying contracts. Amounts recoverable from reinsurers for long-duration reinsurance arrangements are estimated in a manner consistent with the claim liabilities and policy benefits associated with the reinsured policies. Reinsurance policy charges and fee income ceded for universal life and variable annuity products are accounted for as a reduction of policy charges and fee income. Reinsurance premiums ceded for term insurance products are accounted for as a reduction of premiums. Realized investment gains and losses include the impact of reinsurance agreements, particularly reinsurance agreements involving living benefit guarantees. The Company has entered into reinsurance agreements to transfer the risk related to the living benefit guarantees on variable annuities to PALAC excluding the PLNJ business which was reinsured to Prudential Insurance. These reinsurance agreements are derivatives and have been accounted for in the same manner as embedded derivatives and the changes in the fair value of these derivatives are recognized through “Realized investment gains (losses), net”. See Note 4 for additional information related to the accounting for embedded derivatives. Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows: 2019 2018 (in thousands) Reinsurance recoverables $ 40,710,159 $ 34,682,127 Policy loans (142,262 ) (130,502 ) Deferred policy acquisition costs (6,989,618 ) (7,267,847 ) Deferred sales inducements (515,968 ) (562,052 ) Other assets(1) 258,427 185,573 Policyholders’ account balances 4,934,544 5,004,112 Future policy benefits 4,209,817 3,376,048 Other liabilities(2) 884,641 621,856 (1) Includes $0.0 million and $0.1 million of unaffiliated activity as of December 31, 2019 and 2018 , respectively. (2) Includes $43.1 million and $27.2 million of unaffiliated activity as of December 31, 2019 and 2018 , respectively. The reinsurance recoverables by counterparty are broken out below: December 31, 2019 December 31, 2018 (in thousands) PAR U $ 12,380,683 $ 11,444,032 PALAC 11,635,405 8,828,190 PURC 4,692,769 4,127,455 PARCC 2,627,595 2,527,690 GUL Re 2,292,638 2,017,810 PAR Term 1,825,594 1,678,745 Prudential Insurance 1,764,512 1,226,917 Prudential of Taiwan 1,499,685 1,414,669 Term Re 1,506,366 1,259,141 DART 327,235 119,946 Unaffiliated 157,677 37,532 Total reinsurance recoverables $ 40,710,159 $ 34,682,127 Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2019 2018 2017 (in thousands) Premiums: Direct $ 1,882,584 $ 1,807,809 $ 1,720,896 Assumed(1) 206 230 194 Ceded(2) (1,854,246 ) (1,757,231 ) (1,666,384 ) Net premiums 28,544 50,808 54,706 Policy charges and fee income: Direct 3,725,113 3,248,574 3,459,134 Assumed 519,265 497,751 473,573 Ceded(3) (3,700,222 ) (3,212,998 ) (3,657,014 ) Net policy charges and fee income 544,156 533,327 275,693 Net investment income: Direct 398,762 330,058 356,291 Assumed 1,631 1,581 1,484 Ceded (6,596 ) (6,352 ) (5,365 ) Net investment income 393,797 325,287 352,410 Asset administration fees: Direct 355,118 346,727 340,461 Assumed 0 0 0 Ceded (339,062 ) (332,359 ) (322,868 ) Net asset administration fees 16,056 14,368 17,593 Other income: Direct 83,891 68,931 62,830 Assumed(4) (293 ) 96 390 Ceded (59 ) (55 ) (77 ) Amortization of reinsurance income 21 3,992 4,606 Net other income 83,560 72,964 67,749 Realized investment gains (losses), net: Direct (1,912,241 ) 769,114 478,117 Assumed 0 0 0 Ceded(5) 1,795,492 (936,392 ) (558,303 ) Realized investment gains (losses), net (116,749 ) (167,278 ) (80,186 ) Policyholders’ benefits (including change in reserves): Direct 3,352,159 2,647,574 2,436,537 Assumed(6) 885,542 599,589 584,909 Ceded(7) (4,084,627 ) (3,097,664 ) (3,039,862 ) Net policyholders’ benefits (including change in reserves) 153,074 149,499 (18,416 ) Interest credited to policyholders’ account balances: Direct 470,551 499,458 350,262 Assumed 135,355 141,307 135,123 Ceded (418,677 ) (468,772 ) (316,994 ) Net interest credited to policyholders’ account balances 187,229 171,993 168,391 Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization (1,772,111 ) (1,587,360 ) (1,302,020 ) (1) Includes $0.2 million of unaffiliated activity for each of the years ended December 31, 2019 , 2018 and 2017 . (2) Includes $(0.6) million , $(0.2) million and $0.0 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (3) Includes $(34) million , $(20) million and $(8) million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (4) Includes $(0.3) million , $0.1 million and $0.4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (5) Includes $44 million , $(34) million and $(20) million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (6) Includes $1.9 million , $0.0 million and $0.4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (7) Includes $(30) million , $(10) million and $4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. The gross and net amounts of life insurance face amount in force as of December 31, were as follows: 2019 2018 2017 (in thousands) Direct gross life insurance face amount in force $ 993,850,732 $ 936,489,617 $ 882,333,743 Assumed gross life insurance face amount in force 39,877,183 40,811,929 41,782,959 Reinsurance ceded (963,444,461 ) (901,709,295 ) (854,053,110 ) Net life insurance face amount in force $ 70,283,454 $ 75,592,251 $ 70,063,592 Information regarding significant affiliated reinsurance agreements is described below. PAR U Pruco Life reinsures an amount equal to 70% of all the risks associated with Universal Protector policies having no-lapse guarantees as well as certain of its universal policies, with effective dates prior to January 1, 2011 . Effective July 1, 2012 , PLNJ reinsures an amount equal to 95% of all the risks associated with Universal Protector policies having no-lapse guarantees as well as certain of its universal policies, excluding those policies that are subject to principle-based reserving. On January 2, 2013 , Pruco Life began to assume Guaranteed Universal Life ("GUL") business from Prudential Insurance in connection with the acquisition of The Hartford Life Business. The GUL business assumed from Prudential Insurance was subsequently retroceded to PAR U. PALAC Effective April 1, 2016 , the Company entered into a reinsurance agreement to reinsure its variable annuity base contracts, along with the living benefit guarantees to PALAC, excluding the PLNJ business, which was reinsured to Prudential Insurance. This reinsurance agreement covers new and in force business and excludes business reinsured externally. PURC Pruco Life reinsures an amount equal to 70% of all the risks associated with its Universal Protector policies having no lapse guarantees as well as certain of its universal policies, with effective dates from January 1, 2011 through December 31, 2013 with PURC and 95% of all the risks associated with Universal Protector policies having no-lapse guarantees, as well as certain of its universal policies, with effective dates from January 1, 2014 through December 31, 2016. PARCC Prior to July 1, 2019, the Company reinsured 90% of the risks under its term life insurance policies, with effective dates prior to January 1, 2010 through an automatic coinsurance agreement with PARCC. Effective July 1, 2019, the Company amended the coinsurance agreement to increase the percentage from 90% to 100% of the policy risk amount reinsured , which resulted in an initial transfer of $476 million in premiums and $409 million in expenses ceded with the difference being deferred and subsequently amortized through income. GUL Re Effective January 1, 2017 , Pruco Life entered into an automatic coinsurance agreement with GUL Re to reinsure an amount equal to 95% of all the risks associated with Universal Protector policies having no-lapse guarantees, as well as certain of its universal policies, with effective dates on or after January 1, 2017 , excluding those policies that are subject to principle-based reserving. Effective July 1, 2017 , Pruco Life amended this agreement to include 30% of Universal Protector policies having no-lapse guarantees as well as certain of its universal policies with effective dates prior to January 1, 2014 . PAR Term Prior to July 1, 2019, the Company reinsures 95% of the risks under its term life insurance policies with effective dates January 1, 2010 through December 31, 2013 , through an automatic coinsurance agreement with PAR Term. Effective July 1, 2019, the Company amended the coinsurance agreement to increase the percentage from 95% to 100% of the policy risk amount reinsured , which resulted in an initial transfer of $150 million in premiums and $115 million in expenses ceded with the difference being deferred and subsequently amortized through income. Prudential of Taiwan On January 31, 2001 , Pruco Life transferred all of its assets and liabilities associated with its Taiwanese branch, including its Taiwanese insurance book of business, to Prudential of Taiwan, an affiliated company. The mechanism used to transfer this block of business in Taiwan is referred to as a “full acquisition and assumption” transaction. Under this mechanism, Pruco Life is jointly liable with Prudential of Taiwan for two years from the giving of notice to all obligees for all matured obligations and for two years after the maturity date of not-yet-matured obligations. Prudential of Taiwan is also contractually liable, under indemnification provisions of the transaction, for any liabilities that may be asserted against Pruco Life. The transfer of the insurance related assets and liabilities was accounted for as a long-duration coinsurance transaction under U.S. GAAP. Under this accounting treatment, the insurance related liabilities remain on the books of Pruco Life and an offsetting reinsurance recoverable is established. These assets and liabilities are denominated in U.S. dollars. Term Re The Company reinsures 95% of the risks under its term life insurance policies, with effective dates on or after January 1, 2014 , through December 31, 2017 , through an automatic coinsurance agreement with Term Re. Prudential Insurance The Company has a yearly renewable term reinsurance agreement with Prudential Insurance and reinsures the majority of all mortality risks not otherwise reinsured. Effective July 1, 2017 , this agreement has been terminated for certain new business, primarily Universal Life insurance policies. Effective July 1, 2017 , the Company reinsures a portion of the mortality risk directly to third-party reinsurers and retains all of the non-reinsured portion of the mortality risk. Effective July 1, 2019, this agreement has been recaptured for certain term life insurance policies which are now reinsured to PARCC and PAR Term as noted above. On January 2, 2013 , Pruco Life began to assume GUL business from Prudential Insurance in connection with the acquisition of the Hartford Financial Services Group, Inc. ("Hartford Financial"). The GUL business assumed from Prudential Insurance was subsequently retroceded to PAR U. In May 2018, Hartford Financial sold a group of operating subsidiaries, which includes two of Prudential Insurance's counterparties to these reinsurance arrangements. There is no impact to the terms, rights or obligations of Prudential Insurance, or operation of these reinsurance arrangements, as a result of this change in control of such counterparties. Similarly, there is no impact to the Company's reinsurance arrangements with respect to such GUL business as a result of this change in control. The Company has reinsured a group annuity contract with Prudential Insurance, in consideration for a single premium payment by the Company, providing reinsurance equal to 100% of all payments due under the contract. Effective April 1, 2016 , PLNJ entered into a reinsurance agreement to reinsure its variable annuity base contracts, along with the living benefit guarantees to Prudential Insurance. This reinsurance agreement covers new and in force business. DART Effective January 1, 2018 , the Company entered into an automatic coinsurance agreement with DART to reinsure an amount equal to 95% of the risks associated with its term life insurance policies with effective dates on or after January 1, 2018 , excluding those policies that are subject to principle-based reserving. Information regarding significant third-party reinsurance arrangements is described below. UPARC Through June 30, 2017 , Pruco Life reinsured Universal Protector policies having no-lapse guarantees with effective dates through December 31, 2013 with UPARC. UPARC reinsured an amount equal to 27% of the net amount at risk related to the first $1 million in face amount plus 30% of the net amount at risk related to the face amount in excess of $1 million as well as 30% of the risk of uncollectible policy charges and fees associated with the no-lapse guarantee provision of these policies. Effective July 1, 2017 , Pruco Life recaptured the risks related to the no-lapse guarantees that were previously reinsured to UPARC and subsequently included these risks as part of the business ceded to GUL Re under the amended coinsurance agreement on that date. Union Hamilton Between April 1, 2015 and December 31, 2016 , the Company, excluding its subsidiary, reinsured approximately 50% of the new business related to “highest daily” living benefits rider guarantees on HDI v.3.0 product, available with Prudential Premier ® Retirement Variable Annuity, to Union Hamilton. This reinsurance remains in force for the duration of the underlying annuity contracts. New sales of HDI v.3.0 subsequent to December 31, 2016 are not covered by this external reinsurance agreement. As of December 31, 2019 , $3.2 billion of HDI v.3.0 account values are reinsured to Union Hamilton.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following schedule discloses significant components of income tax expense (benefit) for each year presented: Year Ended December 31, 2019 2018 2017 (in thousands) Current tax expense (benefit): U.S. Federal $ 56,371 $ 36,739 $ (52,502 ) Total 56,371 36,739 (52,502 ) Deferred tax expense (benefit): U.S. Federal (115,503 ) (89,380 ) (104,326 ) Total (115,503 ) (89,380 ) (104,326 ) Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures (59,132 ) (52,641 ) (156,828 ) Income tax expense (benefit) on equity in earnings of operating joint ventures (1) (1,773 ) 648 0 Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss) 81,281 (55,174 ) 43,372 Additional paid-in capital 0 0 824 Total income tax expense (benefit) $ 20,376 $ (107,167 ) $ (112,632 ) (1) Prior period amounts have been updated to conform to current period presentation. Reconciliation of Expected Tax at Statutory Rates to Reported Income Tax Expense (Benefit) The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2019 and 2018 and 35% applicable for 2017, and the reported income tax expense (benefit) are provided in the following table: Year Ended December 31, 2019 2018 2017 (in thousands) Expected federal income tax expense $ 33,345 $ 12,136 $ 60,007 Non-taxable investment income (52,291 ) (49,845 ) (157,408 ) Tax credits (40,602 ) (40,272 ) (29,506 ) Domestic production activities deduction, net 0 0 (10,447 ) Changes in tax law 0 3,618 (20,165 ) Settlements with taxing authorities 0 20,984 0 Other 416 738 691 Reported income tax expense (benefit) $ (59,132 ) $ (52,641 ) $ (156,828 ) Effective tax rate (37.2 )% (91.1 )% (91.5 )% The effective tax rate is the ratio of “Income tax expense (benefit)” divided by “Income (loss) from operations before income taxes and equity in earnings of operating joint venture.” The Company’s effective tax rate for fiscal years 2019, 2018 and 2017 was (37.2)% , (91.1)% and (91.5)% , respectively. The following is a description of items that had the most significant impact on the difference between the Company’s statutory U.S. federal income tax rate of 21% applicable for 2019 and 2018 and 35% applicable for 2017, and the Company’s effective tax rate during the periods presented: Changes in Tax Law . The following is a list of notable changes in tax law that impacted the Company’s effective tax rate for the periods presented: Tax Act of 2017 - On December 22, 2017, the Tax Act of 2017 was enacted into U.S. law. As a result, the Company recognized a $20 million tax benefit in “Income tax expense (benefit)” in the Company’s Consolidated Statements of Operations for the year ended December 31, 2017. In accordance with SEC Staff Accounting Bulletin 118, in 2017 the Company recorded the effects of the Tax Act of 2017 using reasonable estimates due to the need for further analysis of the provisions within the Tax Act of 2017 and collection, preparation and analysis of relevant data necessary to complete the accounting. During 2018, the Company completed the collection, preparation and analysis of data relevant to the Tax Act of 2017, and interpreted any additional guidance issued by the IRS, U.S. Department of the Treasury or other standard-setting organizations, and recognized a $1 million increase in income tax benefit for a total of $21 million recognized from the reduction in net deferred tax liabilities to reflect the reduction in the U.S. tax rate from 35% to 21% . 2018 Industry Issue Resolution (IIR). In August 2018, the IRS released a Directive to provide guidance on the tax reserving for guaranteed benefits within variable annuity contracts and principle-based reserves on certain life insurance contracts. Adopting the methodology specified in the Directive resulted in an acceleration of taxable income for the Company's 2017 tax return for which the tax expense was calculated at 35% and an increase in future tax deduction for the same amount to be realized at 21% netting to a $5 million increase to income tax expense. Non-Taxable Investment Income . The U.S. Dividends Received Deduction (“DRD”) reduces the amount of dividend income subject to U.S. tax and accounts for most of the non-taxable investment income shown in the table above. More specifically, the U.S. DRD constitutes $50 million of the total $52 million of 2019 non-taxable investment income, $47 million of the total $50 million of 2018 non-taxable investment income, and $155 million of the total $157 million of 2017 non-taxable investment income. The DRD for the current period was estimated using information from 2018, current year investment results, and current year’s equity market performance. The actual current year DRD can vary based on factors such as, but not limited to, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. Tax credits . These amounts primarily represent tax credits relating to foreign taxes withheld on the Company’s separate account investments. Other . This line item represents insignificant reconciling items that are individually less than 5% of the computed expected federal income tax expense (benefit) and have therefore been aggregated for purposes of this reconciliation in accordance with relevant disclosure guidance. Schedule of Deferred Tax Assets and Deferred Tax Liabilities As of December 31, 2019 2018 (in thousands) Deferred tax assets: Insurance reserves $ 427,843 $ 245,488 Net unrealized loss on securities 0 8,283 Employee benefits 7,141 0 Other 1,969 1,897 Deferred tax assets 436,953 255,668 Deferred tax liabilities: Deferred policy acquisition cost 67,431 55,030 Net unrealized gain on securities 83,801 0 Investments 142,028 95,294 Deferred tax liabilities 293,260 150,324 Net deferred tax asset (liability) $ 143,693 $ 105,344 The application of U.S. GAAP requires the Company to evaluate the recoverability of deferred tax assets and establish a valuation allowance if necessary to reduce the deferred tax asset to an amount that is more likely than not expected 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 considers 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. The Company had no valuation allowance as of December 31, 2019 and 2018 . Adjustments to the valuation allowance will be made if there is a change in management’s assessment of the amount of deferred tax asset that is realizable. The Company’s “Income (loss) from operations before income taxes and equity in earnings of operating joint venture” includes income from domestic operations of $159 million , $58 million and $170 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Tax Audit and Unrecognized Tax Benefits The Company’s liability for income taxes includes the liability for unrecognized tax benefits and interest that relate to tax years still subject to review by the IRS or other taxing authorities. The completion of review or the expiration of the Federal statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The following table reconciles the total amount of unrecognized tax benefits at the beginning and end of the periods indicated. 2019 2018 2017 (in thousands) Balance at January 1, $ 0 $ 30,196 $ 9,488 Increases in unrecognized tax benefits-prior years 0 0 12,373 (Decreases) in unrecognized tax benefits-prior years 0 0 0 Increases in unrecognized tax benefits-current year 0 0 8,335 (Decreases) in unrecognized tax benefits-current year 0 0 0 Settlements with taxing authorities 0 (30,196 ) 0 Balance at December 31, $ 0 $ 0 $ 30,196 Unrecognized tax benefits that, if recognized, would favorably impact the effective rate $ 0 $ 0 $ 30,196 The Company does not anticipate any significant changes within the next twelve months to its total unrecognized tax benefits related to tax years for which the statute of limitations has not expired. The Company classifies all interest and penalties related to tax uncertainties as income tax expense (benefit). At December 31, 2019 , the Company remains subject to examination in the U.S. for tax years 2015 through 2019 . The Company participates in the IRS’s Compliance Assurance Program. Under this program, the IRS assigns an examination team to review completed transactions as they occur in order to reach agreement with the Company on how they should be reported in the relevant tax returns. If disagreements arise, accelerated resolution programs are available to resolve the disagreements in a timely manner.

Equity

Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Equity	EQUITY Accumulated Other Comprehensive Income (Loss) AOCI represents the cumulative OCI items that are reported separate from net income and detailed on the Consolidated Statements of Comprehensive Income. Each of the components that comprise OCI are described in further detail in Note 2 (Foreign Currency Translation Adjustment and Net Unrealized Investment Gains (Losses)). The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Currency Translation Adjustment Net Unrealized Investment Gains (Losses)(1) Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, December 31, 2016 $ (402 ) $ 71,377 $ 70,975 Change in OCI before reclassifications 259 164,482 164,741 Amounts reclassified from AOCI 0 (26,998 ) (26,998 ) Income tax benefit (expense) (91 ) (43,281 ) (43,372 ) Balance, December 31, 2017 $ (234 ) $ 165,580 $ 165,346 Change in OCI before reclassifications (17,745 ) (257,432 ) (275,177 ) Amounts reclassified from AOCI 0 (2,549 ) (2,549 ) Income tax benefit (expense) 581 54,593 55,174 Cumulative effect of adoption of ASU 2016-01 0 (1,539 ) (1,539 ) Cumulative effect of adoption of ASU 2018-02 (50 ) 30,499 30,449 Balance, December 31, 2018 $ (17,448 ) $ (10,848 ) $ (28,296 ) Change in OCI before reclassifications 9,572 435,919 445,491 Amounts reclassified from AOCI 0 (54,472 ) (54,472 ) Income tax benefit (expense) (41 ) (81,240 ) (81,281 ) Balance, December 31, 2019 $ (7,917 ) $ 289,359 $ 281,442 (1) Includes cash flow hedges of $26 million , $22 million , and $(18) million as of December 31, 2019 , 2018 and 2017 , respectively. Reclassifications out of Accumulated Other Comprehensive Income (Loss) Year Ended Year Ended Year Ended (in thousands) Amounts reclassified from AOCI (1)(2): Net unrealized investment gains (losses): Cash flow hedges—Currency/Interest rate(3) $ 7,734 $ 15,889 $ (1,103 ) Net unrealized investment gains (losses) on available-for-sale securities(4) 46,738 (13,340 ) 28,101 Total net unrealized investment gains (losses) 54,472 2,549 26,998 Total reclassifications for the period $ 54,472 $ 2,549 $ 26,998 (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 4 for additional information on cash flow hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs, future policy benefits and policyholders’ account balances. Net Unrealized Investment Gains (Losses) Net unrealized investment gains (losses) on securities classified as available-for-sale and certain other invested assets and other assets are included in the Company’s Consolidated Statements of Financial Position as a component of AOCI. Changes in these amounts include reclassification adjustments to exclude from “Other comprehensive income (loss)” those items that are included as part of “Net income” for a period that had been part of “Other comprehensive income (loss)” in earlier periods. The amounts for the periods indicated below, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities on which an OTTI loss has been recognized Net Unrealized Gains (Losses) on Investments Deferred Policy Acquisition Costs and Other Costs(2) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(3) Deferred Income Tax (Liability) Benefit Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses) (in thousands) Balance, December 31, 2016 $ 4,883 $ (912 ) $ 632 $ (1,643 ) $ 2,960 Net investment gains (losses) on investments arising during the period 375 0 0 (119 ) 256 Reclassification adjustment for (gains) losses included in net income (3,699 ) 0 0 1,171 (2,528 ) Reclassification adjustment for OTTI losses excluded from net income(1) 50 0 0 (16 ) 34 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 813 0 (289 ) 524 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (610 ) 214 (396 ) Balance, December 31, 2017 $ 1,609 $ (99 ) $ 22 $ (682 ) $ 850 Net investment gains (losses) on investments arising during the period (2,150 ) 0 0 451 (1,699 ) Reclassification adjustment for (gains) losses included in net income (20 ) 0 0 4 (16 ) Reclassification adjustment for OTTI losses excluded from net income(1) (128 ) 0 0 27 (101 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 (53 ) 0 11 (42 ) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 15 (3 ) 12 Balance, December 31, 2018 $ (689 ) $ (152 ) $ 37 $ (192 ) $ (996 ) Net investment gains (losses) on investments arising during the period 2,112 0 0 (450 ) 1,662 Reclassification adjustment for (gains) losses included in net income 210 0 0 (45 ) 165 Reclassification adjustment for OTTI losses excluded from net income(1) (65 ) 0 0 14 (51 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 316 0 (67 ) 249 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (355 ) 76 (279 ) Balance, December 31, 2019 $ 1,568 $ 164 $ (318 ) $ (664 ) $ 750 (1) Represents "transfers in" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses. (3) "Other liabilities" primarily includes reinsurance payables. All Other Net Unrealized Investment Gains (Losses) in AOCI Net Unrealized Gains (Losses) on Investments(2) Deferred Policy Acquisition Costs and Other Costs(3) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(4) Deferred Income Tax (Liability) Benefit Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses) (in thousands) Balance, December 31, 2016 $ 107,549 $ (96,752 ) $ 94,291 $ (36,671 ) $ 68,417 Net investment gains (losses) on investments arising during the period 134,613 0 0 (42,628 ) 91,985 Reclassification adjustment for (gains) losses included in net income 30,697 0 0 (9,721 ) 20,976 Reclassification adjustment for OTTI losses excluded from net income(1) (50 ) 0 0 16 (34 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 98,584 0 (35,060 ) 63,524 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (123,289 ) 43,151 (80,138 ) Balance, December 31, 2017 $ 272,809 $ 1,832 $ (28,998 ) $ (80,913 ) $ 164,730 Net investment gains (losses) on investments arising during the period (284,672 ) 0 0 59,778 (224,894 ) Reclassification adjustment for (gains) losses included in net income (2,529 ) 0 0 531 (1,998 ) Reclassification adjustment for OTTI losses excluded from net income(1) 128 0 0 (27 ) 101 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 (67,575 ) 0 14,190 (53,385 ) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 97,003 (20,369 ) 76,634 Cumulative effect of adoption of ASU 2016-01 (2,368 ) 0 0 829 (1,539 ) Cumulative effect of adoption of ASU 2018-02 0 0 0 30,499 30,499 Balance, December 31, 2018 $ (16,632 ) $ (65,743 ) $ 68,005 $ 4,518 $ (9,852 ) Net investment gains (losses) on investments arising during the period 494,861 0 0 (105,395 ) 389,466 Reclassification adjustment for (gains) losses included in net income (54,682 ) 0 0 11,646 (43,036 ) Reclassification adjustment for OTTI losses excluded from net income(1) 65 0 0 (14 ) 51 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 488,806 0 (104,105 ) 384,701 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (549,821 ) 117,100 (432,721 ) Balance, December 31, 2019 $ 423,612 $ 423,063 $ (481,816 ) $ (76,250 ) $ 288,609 (1) Represents "transfers out" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) Includes cash flow hedges. See Note 4 for information on cash flow hedges. (3) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses. (4)

Statutory Net Income and Surplu

Statutory Net Income and Surplus and Dividend Restrictions	12 Months Ended
	Dec. 31, 2019
Insurance [Abstract]
Statutory Net Income and Surplus and Dividend Restrictions	STATUTORY NET INCOME AND SURPLUS AND DIVIDEND RESTRICTIONS The Company is required to prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the AZDOI. Statutory accounting practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions and valuing investments, deferred taxes, and certain assets on a different basis. Statutory net income (loss) for the Company, including its subsidiary PLNJ, amounted to $262 million , $192 million and $(503) million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Statutory surplus of the Company, including its subsidiary PLNJ, amounted to $1,665 million and $1,461 million at December 31, 2019 and 2018 , respectively. The Company does not utilize prescribed or permitted practices that vary materially from the statutory accounting practices prescribed by the NAIC. The Company is subject to Arizona law, which limits the amount of dividends that insurance companies can pay to stockholders without approval of the AZDOI. The maximum dividend, which may be paid in any twelve -month period without notification or approval, is limited to the lesser of 10% of statutory surplus as of December 31 of the preceding year or the net gain from operations of the preceding calendar year. Cash dividends may only be paid out of surplus derived from realized net profits. Also, if any dividend, together with other dividends or distributions made within the preceding twelve months, exceeds the greater of 10% of statutory capital and surplus as of the preceding December 31 or its statutory net gain from operations excluding realized investment gains and losses for the twelve -month period ending on the preceding December 31, the dividend is considered to be an "extraordinary dividend" and requires the prior approval of the AZDOI. Based on these limitations, there is a capacity to pay a dividend of $21 million in 2020 without prior approval since the Company paid dividends to Prudential Insurance of $250 million in 2019, of which $146 million was paid from surplus and $104 million was considered an extraordinary dividend. The Company also paid dividends to Prudential Insurance of $0 million and $250 million in 2018 and 2017 , respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Company has extensive transactions and relationships with Prudential Insurance and other affiliates. Although we seek to ensure that these transactions and relationships are fair and reasonable, it is possible that the terms of these transactions are not the same as those that would result from transactions among unrelated parties. Expense Charges and Allocations The majority of the Company’s expenses are allocations or charges from Prudential Insurance or other affiliates. These expenses can be grouped into general and administrative expenses and agency distribution expenses. The Company’s general and administrative expenses are charged to the Company using allocation methodologies based on business production processes. Management believes that the methodology is reasonable and reflects costs incurred by Prudential Insurance to process transactions on behalf of the Company. The Company operates under service and lease agreements whereby services of officers and employees, supplies, use of equipment and office space are provided by Prudential Insurance. The Company reviews its allocation methodology periodically which it may adjust accordingly. General and administrative expenses include allocations of stock compensation expenses related to a stock-based awards program and a deferred compensation program issued by Prudential Financial. The expense charged to the Company for the stock-based awards program was $1 million for each of the years ended December 31, 2019 , 2018 and 2017 . The expense charged to the Company for the deferred compensation program was $6 million , $6 million and $9 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company is charged for its share of employee benefit expenses. These expenses include costs for funded and non-funded, non-contributory defined benefit pension plans. Some of these benefits are based on final earnings and length of service while others are based on an account balance, which takes into consideration age, service and earnings during a career. The Company’s share of net expense for the pension plans was $20 million , $23 million and $26 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company is also charged for its share of the costs associated with welfare plans issued by Prudential Insurance. These expenses include costs related to medical, dental, life insurance and disability. The Company's share of net expense for the welfare plans was $24 million , $28 million and $28 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Prudential Insurance sponsors voluntary savings plans for its employee 401(k) plans. The plans provide for salary reduction contributions by employees and matching contributions by the Company of up to 4% of annual salary. The Company’s expense for its share of the voluntary savings plan was $9 million , $10 million and $10 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company is charged distribution expenses from Prudential Insurance’s agency network for both its domestic life and annuity products through a transfer pricing agreement, which is intended to reflect a market-based pricing arrangement. The Company pays commissions and certain other fees to Prudential Annuities Distributors, Inc. (“PAD”) in consideration for PAD’s marketing and underwriting of the Company’s annuity products. Commissions and fees are paid by PAD to broker-dealers who sell the Company’s annuity products. Commissions and fees paid by the Company to PAD were $747 million , $739 million and $633 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company is charged for its share of corporate expenses incurred by Prudential Financial to benefit its businesses, such as advertising, executive oversight, external affairs and philanthropic activity. The Company’s share of corporate expenses was $116 million , $69 million and $66 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Corporate-Owned Life Insurance The Company has sold five Corporate Owned Life Insurance (“COLI”) policies to Prudential Insurance, and one to Prudential Financial. The cash surrender value included in separate accounts for these COLI policies was $4,339 million at December 31, 2019 and $3,631 million at December 31, 2018 . Fees related to these COLI policies were $48 million , $45 million and $44 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company retains the majority of the mortality risk associated with these COLI policies up to $3.5 million per individual policy. Affiliated Investment Management Expenses In accordance with an agreement with PGIM, Inc. ("PGIM"), the Company pays investment management expenses to PGIM who acts as investment manager to certain Company general account and separate account assets. Investment management expenses paid to PGIM related to this agreement were $14 million , $13 million and $14 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. These expenses are recorded as “Net investment income” in the Consolidated Statements of Operations and Comprehensive Income (Loss). Derivative Trades In its ordinary course of business, the Company enters into OTC derivative contracts with an affiliate, PGF. For these OTC derivative contracts, PGF has a substantially equal and offsetting position with an external counterparty. See Note 4 for additional information. Joint Ventures The Company has made investments in joint ventures with certain subsidiaries of Prudential Financial. "Other invested assets" includes $96 million and $88 million as of December 31, 2019 and 2018 , respectively. "Net investment income" related to these ventures includes a gain of $9 million , a loss of $1 million and a gain of $8 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Affiliated Asset Administration Fee Income The Company has a revenue sharing agreement with AST Investment Services, Inc. ("ASTISI") and PGIM Investments LLC ("PGIM Investments") whereby the Company receives fee income based on policyholders' separate account balances invested in the AST. Income received from ASTISI and PGIM Investments related to this agreement was $341 million , $333 million and $323 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. These revenues are recorded as “Asset administration fees” in the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company has a revenue sharing agreement with PGIM Investments, whereby the Company receives fee income based on policyholders’ separate account balances invested in The Prudential Series Fund. Income received from Prudential Investments related to this agreement was $10 million , $10 million and $14 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. These revenues are recorded as “Asset administration fees” in the Consolidated Statements Affiliated Notes Receivable Affiliated notes receivable included in “Receivables from parent and affiliates” at December 31, were as follows: Maturity Dates Interest Rates 2019 2018 (in thousands) U.S. dollar floating rate notes 2028 3.83% - 4.25 % $ 0 $ 6,502 U.S. dollar fixed rate notes 2020 - 2027 0.00% - 14.85 % 122,566 128,140 Total long-term notes receivable - affiliated(1) $ 122,566 $ 134,642 (1) All long-term notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances. The affiliated notes receivable shown above are classified as available-for-sale securities carried at fair value. The Company monitors the internal and external credit ratings of these loans and loan performance. The Company also considers any guarantees made by Prudential Insurance for loans due from affiliates. Accrued interest receivable related to these loans was $1 million at both December 31, 2019 and 2018 , and is included in “Other assets”. Revenues related to these assets were $4 million , $5 million and $5 million for the years ended December 31, 2019 , 2018 and 2017 , respectively, and are included in “Other income”. Affiliated Asset Transfers The Company participates in affiliated asset trades with parent and sister companies. Book and market value differences for trades with a parent and sister are recognized within "Additional paid-in capital" ("APIC") and "Realized investment gains (losses), net", respectively. The table below shows affiliated asset trades for the years ended December 31, 2019 and 2018 : Affiliate Date Transaction Security Type Fair Value Book Value APIC, Net of Tax Increase/ (Decrease) Realized Investment Gain/ (Loss) (in thousands) DART January 2018 Purchase Other Invested Assets $ 21,457 $ 21,457 $ 0 $ 0 PALAC April 2018 Purchase Fixed Maturities $ 64,313 $ 64,313 $ 0 $ 0 GUL Re May 2018 Purchase Fixed Maturities $ 87,486 $ 87,486 $ 0 $ 0 GUL Re May 2018 Purchase Fixed Maturities $ 37,921 $ 37,921 $ 0 $ 0 Prudential Realty Securities, Inc. November 2018 Purchase Commercial Mortgages $ 3,259 $ 3,425 $ 0 $ (167 ) Prudential Insurance February 2019 Sale Commercial Mortgages $ 4,995 $ 5,000 $ (4 ) $ 0 PALAC April 2019 Sale Equity Securities $ 14,525 $ 13,466 $ 0 $ 1,059 Term Re September 2019 Sale Fixed Maturities $ 9,178 $ 8,135 $ 0 $ 1,043 PURC September 2019 Sale Fixed Maturities $ 8,399 $ 7,455 $ 0 $ 944 PAR U September 2019 Sale Fixed Maturities $ 31,466 $ 28,146 $ 0 $ 3,320 Prudential Insurance September 2019 Sale Fixed Maturities $ 10,702 $ 9,254 $ 1,144 $ 0 PURC December 2019 Sale Equity Securities $ 7,767 $ 6,002 $ 0 $ 1,765 Par Term December 2019 Sale Fixed Maturities $ 27,330 $ 24,739 $ 0 $ 2,591 PURC December 2019 Sale Fixed Maturities $ 93,830 $ 75,586 $ 0 $ 18,244 PURC December 2019 Sale Fixed Maturities $ 78,884 $ 68,645 $ 0 $ 10,239 Prudential Insurance December 2019 Purchase Other Invested Assets $ 9,000 $ 9,000 $ 0 $ 0 Debt Agreements The Company is authorized to borrow funds up to $2.2 billion from affiliates to meet its capital and other funding needs. Short-term debt outstanding was $2.8 million as of December 31, 2019. There was no debt outstanding as of December 31, 2018 and 2017. The total interest expense to the Company related to loans payable to affiliates was $2.3 million , $0.7 million and $0.8 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Contributed Capital and Dividends In December of 2019, the Company received a capital contribution in the amount of $6 million from Prudential Insurance. In March of 2018, the Company received a capital contribution in the amount of $6 million from Prudential Insurance. In March and July of 2017, the Company received capital contributions in the amounts of $5 million and $149 million , respectively, from Prudential Insurance. In December of 2019, the Company paid a dividend in the amount of $250 million to Prudential Insurance. Through December of 2018, the Company did no t pay any dividends. In December of 2017, the Company paid a dividend in the amount of $250 million to Prudential Insurance. Reinsurance with Affiliates As discussed in Note 9 , the Company participates in reinsurance transactions with certain affiliates.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Commitments The Company has made commitments to fund commercial mortgage loans. As of December 31, 2019 and 2018 , the outstanding balances on these commitments were $26 million and $14 million , respectively. The Company also made commitments to purchase or fund investments, mostly private fixed maturities. As of December 31, 2019 and 2018 , $261 million and $257 million , respectively, of these commitments were outstanding. Guarantees In July 2017, the Company formed a joint venture with CT Corp to provide life insurance solutions in Indonesia. The Company owns a 49% interest in the joint venture and has entered into a shareholders agreement with CT Corp that sets out their respective rights and obligations with respect to the joint venture. Among other things, the shareholders agreement obligates the Company and CT Corp to provide capital to the joint venture, as necessary to comply with applicable law or to maintain a specified minimum amount of capital in the joint venture. This obligation is not limited to a maximum amount. The Company does not expect to make any payments on this guarantee and is not carrying any liabilities associated with the guarantee. Contingent Liabilities On an ongoing basis, the Company and its regulators review its operations including, but not limited to, sales and other customer interface procedures and practices, and procedures for meeting obligations to its customers and other parties. These reviews may result in the modification or enhancement of processes or the imposition of other action plans, including concerning management oversight, sales and other customer interface procedures and practices, and the timing or computation of payments to customers and other parties. In certain cases, if appropriate, the Company may offer customers or other parties remediation and may incur charges, including the cost of such remediation, administrative costs and regulatory fines. The Company is subject to the laws and regulations of states and other jurisdictions concerning the identification, reporting and escheatment of unclaimed or abandoned funds, and is subject to audit and examination for compliance with these requirements. For additional discussion of these matters, see “Litigation and Regulatory Matters” below. It is possible that the results of operations or the cash flows of the Company in a particular quarterly or annual period could be materially affected as a result of payments in connection with the matters discussed above or other matters depending, in part, upon the results of operations or cash flows for such period. Management believes, however, that ultimate payments in connection with these matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company’s financial position. Litigation and Regulatory Matters The Company is subject to legal and regulatory actions in the ordinary course of its business. Pending legal and regulatory actions include proceedings specific to the Company and proceedings generally applicable to business practices in the industry in which it operates. The Company is subject to class action lawsuits and other litigation involving a variety of issues and allegations involving sales practices, claims payments and procedures, premium charges, policy servicing and breach of fiduciary duty to customers. The Company is also subject to litigation arising out of its general business activities, such as its investments, contracts, leases and labor and employment relationships, including claims of discrimination and harassment, and could be exposed to claims or litigation concerning certain business or process patents. In addition, the Company, along with other participants in the businesses in which it engages, may be subject from time to time to investigations, examinations and inquiries, in some cases industry-wide, concerning issues or matters upon which such regulators have determined to focus. In some of the Company’s pending legal and regulatory actions, parties are seeking large and/or indeterminate amounts, including punitive or exemplary damages. The outcome of litigation or a regulatory matter, and the amount or range of potential loss at any particular time, is often inherently uncertain. The Company establishes accruals for litigation and regulatory matters when it is probable that a loss has been incurred and the amount of that loss can be reasonably estimated. For litigation and regulatory matters where a loss may be reasonably possible, but not probable, or is probable but not reasonably estimable, no accrual is established, but the matter, if material, is disclosed. The Company estimates that as of December 31, 2019 , the aggregate range of reasonably possible losses in excess of accruals established for those litigation and regulatory matters for which such an estimate currently can be made is less than $100 million . This estimate is not an indication of expected loss, if any, or the Company's maximum possible loss exposure on such matters. The Company reviews relevant information with respect to its litigation and regulatory matters on a quarterly and annual basis and updates its accruals, disclosures and estimates of reasonably possible loss based on such reviews. Behfarin v. Pruco Life In July 2017, a putative class action complaint entitled Richard Behfarin v. Pruco Life Insurance Company was filed in the United States District Court for the Central District of California, alleging that the Company imposes charges on owners of universal life policies to cure defaults and/or reinstate lapses, that are inconsistent with the applicable universal life policy. The complaint includes claims for breach of contract, breach of implied covenant of good faith and fair dealing, and violation of California law, and seeks unspecified damages along with declaratory and injunctive relief. In September 2017, the Company filed its answer to the complaint. In September 2018, plaintiff filed a motion for class certification. In October 2019, plaintiff filed: (1) the First Amended Complaint adding Prudential Insurance Company of America and Pruco Life Insurance Company of New Jersey as defendants; and (2) a motion seeking preliminary certification of a settlement class, appointment of a class representative and class counsel, and preliminary approval of the proposed class action settlement. In November 2019, the court issued an order granting the motion for preliminary approval of the settlement. Securities Lending and Foreign Tax Reclaim Matter In 2016, Prudential Financial self-reported to the SEC and the U.S. Department of Labor ("DOL"), and notified other regulators, that in some cases it failed to maximize securities lending income for the benefit of certain separate account investments due to a long-standing restriction benefiting Prudential Financial that limited the availability of loanable securities. Prudential Financial has removed the restriction and implemented a remediation plan for the benefit of customers. As part of Prudential Financial’s review of this matter, in 2018 it further self-reported to the SEC, and notified other regulators, that in some cases it failed to timely process foreign tax reclaims for the separate account investments. Prudential Financial has corrected the foreign tax reclaim process and has implemented a remediation plan for the benefit of customers. The DOL’s review of the securities lending matter is closed. In September 2019, Prudential Financial reached a settlement of these matters with the SEC. As part of the settlement Prudential Financial agreed to pay a fine of $5 million and disgorgement of $27.6 million , and consented to the entry of an Administrative Order containing findings that two of its subsidiaries violated certain sections of the Investment Advisers Act of 1940 and the Investment Advisers Act Rules and ordering the subsidiaries to cease and desist from committing or causing any violations and any future violations of those provisions. In reaching this settlement, Prudential Financial neither admitted nor denied the SEC’s findings. Summary The Company’s litigation and regulatory matters are subject to many uncertainties, and given their complexity and scope, their outcome cannot be predicted. It is possible that the Company’s results of operations or cash flows in a particular quarterly or annual period could be materially affected by an ultimate unfavorable resolution of pending litigation and regulatory matters depending, in part, upon the results of operations or cash flows for such period. In light of the unpredictability of the Company’s litigation and regulatory matters, it is also possible that in certain cases an ultimate unfavorable resolution of one or more pending litigation or regulatory matters could have a material adverse effect on the Company’s financial position. Management believes, however, that, based on information currently known to it, the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable reserves and rights to indemnification, is not likely to have a material adverse effect on the Company’s financial position.

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2019 and 2018 are summarized in the table below: Three months ended March 31 June 30 September 30 December 31 (in thousands) 2019 Total revenues $ 222,412 $ 233,359 $ 273,205 $ 220,388 Total benefits and expenses 150,798 219,237 234,568 185,977 Income (loss) from operations before income taxes and equity in earnings of operating joint venture 71,614 14,122 38,637 34,411 Net income (loss) $ 87,788 $ 48,435 $ 43,373 $ 37,403 2018 Total revenues $ 188,712 $ 248,288 $ 183,330 $ 209,146 Total benefits and expenses 179,469 224,981 166,760 200,479 Income (loss) from operations before income taxes and equity in earnings of operating joint venture 9,243 23,307 16,570 8,667 Net income (loss) $ 11,304 $ 36,226 $ 18,725 $ 42,383

Schedule I - Summary of Investm

Schedule I - Summary of Investments Other Than investments in Related Parties Schedule I - Summary of Investments Other Than investments in Related Parties	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments Other Than investments in Related Parties	Type of Investment Amortized Cost or Cost(1) Fair Value Amount Shown in the Balance Sheet Fixed maturities, available-for-sale: Bonds: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 83,622 $ 86,468 $ 86,468 Obligations of U.S. states and their political subdivisions 458,152 497,827 497,827 Foreign governments 196,034 222,826 222,826 Asset-backed securities 119,602 119,936 119,936 Residential mortgage-backed securities 60,778 63,804 63,804 Commercial mortgage-backed securities 367,848 382,916 382,916 Public utilities 737,155 810,229 810,229 All other corporate bonds 3,257,754 3,495,397 3,495,397 Redeemable preferred stock 2,321 2,567 2,567 Total fixed maturities, available-for-sale $ 5,283,266 $ 5,681,970 $ 5,681,970 Equity securities: Common stocks: Other common stocks $ 1,008 $ 3,467 $ 3,467 Mutual funds 376 459 459 Perpetual preferred stocks 4,976 6,568 6,568 Total equity securities, at fair value $ 6,360 $ 10,494 $ 10,494 Fixed maturities, trading $ 59,995 $ 59,964 $ 59,964 Commercial mortgage and other loans(2) 1,239,885 1,239,885 Policy loans 1,314,064 1,314,064 Other invested assets 429,558 429,558 Total investments $ 8,333,128 $ 8,735,935 __________ (1) For fixed maturities available-for-sale, original cost reduced by repayments and impairments and adjusted for amortization of premiums and accretion of discounts. (2) At carrying value, which is net of allowance for credit losses.

Significant Accounting Polici_2

Significant Accounting Policies and Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of 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 DAC and related amortization; fair value of embedded derivative instruments associated with index-linked features of certain universal life products; valuation of investments including derivatives and the recognition of other-than-temporary impairments (“OTTI”); future policy benefits including guarantees; reinsurance recoverables; provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation.
Investments and Investment-Related Liabilities	Fixed maturities, available-for-sale, at fair value are comprised of bonds, notes and redeemable preferred stock. Fixed maturities classified as “available-for-sale” are carried at fair value. See Note 5 for additional information regarding the determination of fair value. The associated unrealized gains and losses, net of tax, and the effect on DAC, DSI, future policy benefits, reinsurance recoverables, and policyholders’ account balances that would result from the realization of unrealized gains and losses, are included in “Accumulated other comprehensive income (loss)” (“AOCI”). The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. Interest income, and amortization of premium and accretion of discount are included in “Net investment income” under the effective yield method. Additionally, prepayment premiums are also included in “Net investment income”. For mortgage-backed and asset-backed securities, the effective yield is based on estimated cash flows, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also vary based on other assumptions regarding the underlying collateral, including default rates and changes in value. These assumptions can significantly impact income recognition and the amount of OTTI recognized in earnings and other comprehensive income (loss) ("OCI"). For high credit quality mortgage-backed and asset-backed securities (those rated AA or above), cash flows are provided quarterly, and the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to "Net investment income" in accordance with the retrospective method. For mortgage-backed and asset-backed securities rated below AA or those for which an OTTI has been recorded, the effective yield is adjusted prospectively for any changes in estimated cash flows. See the discussion below on realized investment gains and losses for a description of the accounting for impairments. Fixed maturities, trading, at fair value consists of fixed maturities that are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income,” and interest and dividend income from these investments is reported in “Net investment income”. Equity securities, at fair value is comprised of common stock and mutual fund shares, which are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income,” and dividend income is reported in “Net investment income” on the ex-dividend date. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities using a modified retrospective method. Adoption of this ASU impacted the Company’s accounting and presentation related to equity investments. The most significant impact is that the changes in fair value of equity securities previously classified as “available-for-sale” are reported in net income within “Other income” in the Consolidated Statements of Operations. Prior to this, the changes in fair value on equity securities classified as “available-for-sale” were reported in AOCI. The impact of this standard resulted in an increase to retained earnings of $7.9 million , a reduction to AOCI of $1.5 million , and an increase to equity of $6.4 million upon adoption on January 1, 2018. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Short-term investments primarily consist of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased. These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government sponsored entities and other highly liquid debt instruments. Commercial mortgage and other loans consist of commercial mortgage loans and agricultural property loans. Commercial mortgage and other loans held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses and net of an allowance for losses. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income". Impaired loans include those loans for which it is probable that amounts due will not all be collected according to the contractual terms of the loan agreement. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. Interest received on loans that are past due, including impaired and non-impaired loans as well as loans that were previously modified in a troubled debt restructuring, is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged to interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. The Company reviews the performance and credit quality of the commercial mortgage and other loan portfolio on an on-going basis. Loans are placed on watch list status based on a predefined set of criteria and are assigned one of two categories. Loans are classified as “closely monitored” when it is determined that there is a collateral deficiency or other credit events that may lead to a potential loss of principal or interest. Loans “not in good standing” are those loans where the Company has concluded that there is a high probability of loss of principal, such as when the loan is delinquent or in the process of foreclosure. As described below, in determining the allowance for losses, the Company evaluates each loan on the watch list to determine if it is probable that amounts due will not be collected according to the contractual terms of the loan agreement. Loan-to-value and debt service coverage ratios are measures commonly used to assess the quality of commercial mortgage loans. The loan-to-value ratio compares the amount of the loan to the fair value of the underlying property collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the loan amount exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the loan amount. The debt service coverage ratio compares a property’s net operating income to its debt service payments. Debt service coverage ratios less than 1.0 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 times indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. The loan-to-value ratio is the most significant of several inputs used to establish the internal credit rating of a loan which in turn drives the allowance for losses. Other key factors considered in determining the internal credit rating include debt service coverage ratios, amortization, loan term, and estimated market value growth rate and volatility for the property type and region. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. The allowance for losses includes a loan specific reserve for each impaired loan that has a specifically identified loss and a portfolio reserve for probable incurred but not specifically identified losses. For impaired commercial mortgage and other loans, the allowances for losses are determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or based upon the fair value of the collateral if the loan is collateral dependent. The portfolio reserves for probable incurred but not specifically identified losses in the commercial mortgage and agricultural loan portfolios consider the current credit composition of the portfolio based on an internal quality rating as described above. The portfolio reserves are determined using past loan experience, including historical credit migration, loss probability and loss severity factors by property type. These factors are reviewed and updated as appropriate. The allowance for losses on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. “Realized investment gains (losses), net” includes changes in the allowance for losses. “Realized investment gains (losses), net” also includes gains and losses on sales, certain restructurings, and foreclosures. When a commercial mortgage or other loan is deemed to be uncollectible, any specific valuation allowance associated with the loan is reversed and a direct write down of the carrying amount of the loan is made. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Commercial mortgage and other loans are occasionally restructured in a troubled debt restructuring. These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt as part of a troubled debt restructuring. When restructurings occur, they are evaluated individually to determine whether the restructuring or modification constitutes a “troubled debt restructuring” as defined by authoritative accounting guidance. If the borrower is experiencing financial difficulty and the Company has granted a concession, the restructuring, including those that involve a partial payoff or the receipt of assets in full satisfaction of the debt is deemed to be a troubled debt restructuring. Based on the Company’s credit review process described above, these loans generally would have been deemed impaired prior to the troubled debt restructuring, and specific allowances for losses would have been established prior to the determination that a troubled debt restructuring has occurred. In a troubled debt restructuring where the Company receives assets in full satisfaction of the debt, any specific valuation allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the assets received and the recorded investment in the loan. When assets are received in partial settlement, the same process is followed, and the remaining loan is evaluated prospectively for impairment based on the credit review process noted above. When a loan is restructured in a troubled debt restructuring, the impairment of the loan is remeasured using the modified terms and the loan’s original effective yield, and the allowance for loss is adjusted accordingly. Subsequent to the modification, income is recognized prospectively based on the modified terms of the loans in accordance with the income recognition policy noted above. Additionally, the loan continues to be subject to the credit review process noted above. In situations where a loan has been restructured in a troubled debt restructuring and the loan has subsequently defaulted, this factor is considered when evaluating the loan for a specific allowance for losses in accordance with the credit review process noted above. See Note 3 for additional information about commercial mortgage and other loans that have been restructured in a troubled debt restructuring. Other invested assets consist of the Company’s non-coupon investments in Limited Partnerships and Limited Liability Companies ("LPs/LLCs") (other than operating joint ventures) and derivative assets. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value with changes in fair value reported in “Other income”. The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income”. The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. For the investments reported at fair value with changes in fair value reported in current earnings, the associated realized and unrealized gains and losses are reported in “Other income”. Realized investment gains (losses) are computed using the specific identification method. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as adjustments to the cost basis of investments for net OTTI recognized in earnings. Realized investment gains and losses also reflect changes in the allowance for losses on commercial mortgage and other loans, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. The Company’s available-for-sale securities with unrealized losses are reviewed quarterly to identify OTTI in value. In evaluating whether a decline in value is other-than-temporary, the Company considers several factors including, but not limited to the following: (1) the extent and the duration of the decline; (2) the reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); and (3) the financial condition of and near-term prospects of the issuer. An OTTI is recognized in earnings for a debt security in an unrealized loss position when the Company either (1) has the intent to sell the debt security or (2) it is more likely than not will be required to sell the debt security before its anticipated recovery. For all debt securities in unrealized loss positions that do not meet either of these two criteria, the Company analyzes its ability to recover the amortized cost by comparing the net present value of projected future cash flows with the amortized cost of the security. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security prior to impairment. The Company may use the estimated fair value of collateral as a proxy for the net present value if it believes that the security is dependent on the liquidation of collateral for recovery of its investment. If the net present value is less than the amortized cost of the investment, an OTTI is recognized. When an OTTI of a debt security has occurred, the amount of the OTTI recognized in earnings depends on whether the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. If the debt security meets either of these two criteria, the OTTI recognized in earnings is equal to the entire difference between the security’s amortized cost basis and its fair value at the impairment measurement date. For OTTI of debt securities that do not meet these criteria, the net amount recognized in earnings is equal to the difference between the amortized cost of the debt security and its net present value calculated as described above. Any difference between the fair value and the net present value of the debt security at the impairment measurement date is recorded in OCI. Unrealized gains or losses on securities for which an OTTI has been recognized in earnings is tracked as a separate component of AOCI. The split between the amount of an OTTI recognized in OCI and the net amount recognized in earnings for debt securities is driven principally by assumptions regarding the amount and timing of projected cash flows. For mortgage-backed and asset-backed securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. For structured securities, the payment priority within the tranche structure is also considered. For all other debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. The new cost basis of an impaired security is not adjusted for subsequent increases in estimated fair value. In periods subsequent to the recognition of an OTTI, the impaired security is accounted for as if it had been purchased on the measurement date of the impairment. For debt securities, the discount (or reduced premium) based on the new cost basis may be accreted into net investment income in future periods, including increases in cash flows on a prospective basis. In certain cases where there are decreased cash flow expectations, the security is reviewed for further cash flow impairments. Unrealized investment gains and losses are also considered in determining certain other balances, including DAC, DSI, certain future policy benefits, reinsurance recoverables, policyholders’ account balances and deferred tax assets or liabilities. These balances are adjusted, as applicable, for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. Each of these balances is discussed in greater detail below.
Cash and cash equivalents	Cash and cash equivalents include cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in "Fixed maturities, available-for-sale, at fair value,” and receivables related to securities purchased under agreements to resell (see also "Securities sold under agreements to purchase" below.) The Company also engages in overnight borrowing and lending of funds with Prudential Financial and affiliates which are considered cash and cash equivalents. These assets are generally carried at fair value or amortized cost which approximates fair value.
Deferred Policy Acquisition Costs	Deferred policy acquisition costs are directly related to the successful acquisition of new and renewal insurance and annuity business that have been deferred to the extent such costs are deemed recoverable from future profits. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully negotiated contracts. In each reporting period, capitalized DAC is amortized to “Amortization of DAC”, net of the accrual of imputed interest on DAC balances. DAC is subject to periodic recoverability testing. DAC, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. DAC related to universal and variable life products and fixed and variable deferred annuity products are generally deferred and amortized over the expected life of the contracts in proportion to gross profits arising principally from investment margins, mortality and expense margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. The Company uses a reversion to the mean approach for equities to derive future equity return assumptions. However, if the projected equity return calculated using this approach is greater than the maximum equity return assumption, the maximum equity return is utilized. Gross profits also include impacts from the embedded derivatives associated with certain of the optional living benefit features of variable annuity contracts, and index-linked crediting features of indexed universal life contracts and related hedging activities. In calculating gross profits, profits and losses related to contracts issued by the Company that are reported in affiliated legal entities other than the Company as a result of, for example, reinsurance agreements with those affiliated entities are also included. The Company is an indirect subsidiary of Prudential Financial, a United States Securities and Exchange Commission (the "SEC") registrant, and has extensive transactions and relationships with other subsidiaries of Prudential Financial, including reinsurance agreements, as described in Note 9 . Incorporating all product-related profits and losses in gross profits, including those that are reported in affiliated legal entities, produces a DAC amortization pattern representative of the total economics of the products. Total gross profits include both actual gross profits and estimates of gross profits for future periods. The Company regularly evaluates and adjusts DAC balances with a corresponding charge or credit to current period earnings, representing a cumulative adjustment to all prior periods’ amortization, for the impact of actual gross profits and changes in the Company's projections of estimated future gross profits. Adjustments to DAC balances include: (i) annual review of assumptions that reflect the comprehensive review of the assumptions used in estimating gross profits for future periods, (ii) quarterly adjustments for current period experience (also referred to as “experience true-up” adjustments) that reflect the impact of differences between actual gross profits for a given period and the previously estimated expected gross profits for that period, and (iii) quarterly adjustments for market performance (also referred to as “experience unlocking”) that reflect the impact of changes to the Company's estimate of total gross profits to reflect actual fund performance and market conditions. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If policyholders surrender traditional life insurance policies in exchange for life insurance policies that do not have fixed and guaranteed terms, the Company immediately charges to expense the remaining unamortized DAC on the surrendered policies. For other internal replacement transactions, except those that involve the addition of a nonintegrated contract feature that does not change the existing base contract, the unamortized DAC is immediately charged to expense if the terms of the new policies are not substantially similar to those of the former policies. If the new terms are substantially similar to those of the earlier policies, the DAC is retained with respect to the new policies and amortized over the expected life of the new policies. See Note 6
Accrued investment income	Accrued investment income
Reinsurance recoverables	Reinsurance recoverables include corresponding receivables associated with reinsurance arrangements with affiliates and third-party reinsurers. For additional information about these arrangements see Note 9 .
Income taxes	Income taxes asset primarily represents the net deferred tax asset and the Company’s estimated taxes receivable for the current year and open audit years. The Company is a member of the federal income tax return of Prudential Financial and primarily files separate company state and local tax returns. Pursuant to the tax allocation arrangement with Prudential Financial, total federal income tax expense is determined on a separate company basis. Members record tax benefits to the extent tax losses or tax credits are recognized in the consolidated federal tax provision. Items required by tax regulations to be included in the tax return may differ from the items reflected in the financial statements. As a result, the effective tax rate reflected in the financial statements may be different than the actual rate applied on the tax return. Some of these differences are permanent such as expenses that are not deductible in the Company’s tax return, and some differences are temporary, reversing over time, such as valuation of insurance reserves. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that can be used as a tax deduction or credit in future years for which the Company has already recorded the tax benefit in the Company’s Consolidated Statements of Operations. Deferred tax liabilities generally represent tax expense recognized in the Company’s financial statements for which payment has been deferred, or expenditures for which the Company has already taken a deduction in the Company’s tax returns but have not yet been recognized in the Company’s financial statements. Deferred income taxes are recognized, based on enacted rates, when assets and liabilities have different values for financial statement and tax reporting purposes. The application of U.S. 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 expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. See Note 10 for a discussion of factors considered when evaluating the need for a valuation allowance. In December of 2017, SEC staff issued "SAB 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act" ("SAB 118"), which allowed registrants to record provisional amounts during a 'measurement period' not to extend beyond one year. Under the relief provided by SAB 118, a company could recognize provisional amounts when it did not have the necessary information available, prepared or analyzed in reasonable detail to complete its accounting for the change in tax law. See Note 10 for a discussion of provisional amounts related to The United States Tax Cuts and Jobs Act of 2017 ("Tax Act of 2017") recorded in 2017 and adjustments to provisional amounts recorded in 2018. U.S. 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. First, 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 a 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 has passed. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards (“tax attributes”), the statute of limitations does not close, to the extent of these tax attributes, 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 10 for additional information regarding income taxes. Effective January 1, 2018, the Company adopted ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Loss) , which allowed a reclassification from AOCI to retained earnings for stranded effects resulting from the Tax Act of 2017. The Company elected to apply the ASU subsequent to recording the adoption impacts of ASU 2016-01 as described above. As a result, the Company reclassified stranded effects resulting from the Tax Act of 2017 by increasing AOCI and decreasing retained earnings, each by $30.4 million upon adoption on January 1, 2018. Stranded effects unrelated to the Tax Act of 2017 are generally released from AOCI when an entire portfolio of the type of item related to the stranded effect is liquidated, sold or extinguished (i.e., portfolio approach).
Other assets and Other liabilities	Other assets Other liabilities consist primarily of accrued expenses, reinsurance payables, and technical overdrafts.
Separate account assets and liabilities	Separate account liabilities primarily represent the contractholders’ account balance in separate account assets and to a lesser extent borrowings of the separate account, and will be equal and offsetting to total separate account assets. See also “ Separate account assets” above. Separate account assets represent segregated funds that are invested for certain contractholders and other customers. The assets consist primarily of equity securities, fixed maturities, and real estate related investments and are reported at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Investment risks associated with market value changes are borne by the contractholders, except to the extent of minimum guarantees made by the Company with respect to certain accounts. The investment income and realized investment gains or losses from separate accounts generally accrue to the contractholders and are not included in the Company’s consolidated results of operations. Mortality, policy administration and surrender charges assessed against the accounts are included in “Policy charges and fee income”. Asset administration fees charged to the accounts are included in “Asset administration fees”. See Note 8 for additional information regarding separate account arrangements with contractual guarantees. See also “ Separate account liabilities” below.
Policyholders' account balances	Policyholders’ account balances liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This liability is primarily associated with the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balance, as applicable. These policyholders’ account balances also include provision for benefits under non-life contingent payout annuities and certain unearned revenues. See Note 7
Future policy benefits	Future policy benefits liability includes liabilities related to certain long-duration life and annuity contracts, which are discussed more fully in Note 8 . These liabilities represent reserves for the guaranteed minimum death and optional living benefit features on our variable annuity products and no lapse guarantees for our variable and universal life products. The optional living benefits are primarily accounted for as embedded derivatives, with fair values calculated as the present value of future expected benefit payments to customers less the present value of assessed rider fees attributable to the embedded derivative feature. For additional information regarding the valuation of these optional living benefit features, see Note 5 . The Company’s liability for future policy benefits also includes reserves based on the present value of estimated future payments to or on behalf of policyholders related to contracts that have fixed and guaranteed terms, where the timing and amount of payment depends on policyholder mortality and maintenance expenses less the present value of future net premiums. Expected mortality is generally based on Company experience, industry data, and/or other factors. Interest rate assumptions are based on factors such as market conditions and expected investment returns. Although mortality, morbidity and interest rate assumptions are “locked-in” upon the issuance of new insurance or annuity business with fixed and guaranteed terms, significant changes in experience or assumptions may require the Company to provide for expected future losses on a product by recognizing a premium deficiency. A premium deficiency exists when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and expenses. If a premium deficiency is recognized, the assumptions without a provision for the risk of adverse deviation as of the premium deficiency test date are locked-in and used in subsequent valuations. The net reserves continue to be subject to premium deficiency testing. Any adjustments to future policy benefit reserves related to net unrealized gains on securities classified as available-for-sale are included in AOCI. See Note 7 for additional information regarding future policy benefits.
Cash collateral for loaned securities	Cash collateral for loaned securities represent liabilities to return cash proceeds from security lending transactions. Securities lending transactions are used primarily to earn spread income or to facilitate trading activity. As part of securities lending transactions, the Company transfers U.S. and foreign debt and equity securities, as well as U.S. government and government agency securities, and receives cash as collateral. Cash proceeds from securities lending transactions are primarily used to earn spread income, and are typically invested in cash equivalents, short-term investments or fixed maturities. Securities lending transactions are treated as financing arrangements and are recorded at the amount of cash received. The Company obtains collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively. The Company monitors the market value of the securities loaned on a daily basis with additional collateral obtained as necessary. Substantially all of the Company’s securities lending transactions are with large brokerage firms and large banks. Income and expenses associated with securities lending transactions used to earn spread income are reported as “Net investment income.”
Securities sold under agreements to repurchase	Securities sold under agreements to repurchase represent liabilities associated with securities repurchase agreements which are used primarily to earn spread income. As part of securities repurchase agreements, the Company transfers U.S. government and government agency securities to a third-party, and receives cash as collateral. For securities repurchase agreements, the cash received is typically invested in cash equivalents, short-term investments or fixed maturities. Receivables associated with securities purchased under agreements to resell are generally reflected as cash equivalents (see also "Cash and cash equivalents" above). As part of securities resale agreements, the Company invests cash and receives as collateral U.S. government securities or other debt securities. Securities repurchase and resale agreements that satisfy certain criteria are treated as secured borrowing or secured lending arrangements. These agreements are carried at the amounts at which the securities will be subsequently resold or reacquired, as specified in the respective transactions. For securities purchased under agreements to resell, the Company’s policy is to take possession or control of the securities either directly or through a third-party custodian. These securities are valued daily and additional securities or cash collateral is received, or returned, when appropriate to protect against credit exposure. Securities to be resold are the same, or substantially the same, as the securities received. The majority of these transactions are with large brokerage firms and large banks. For securities sold under agreements to repurchase, the market value of the securities to be repurchased is monitored, and additional collateral is obtained where appropriate, to protect against credit exposure. The Company obtains collateral in an amount at least equal to 95% of the fair value of the securities sold. Securities to be repurchased are the same, or substantially the same, as those sold. The majority of these transactions are with highly rated money market funds. Income and expenses related to these transactions executed within the insurance companies used to earn spread income are reported as “Net investment income.”
Short-term and long-term debt	Short-term and long-term debt liabilities are primarily carried at an amount equal to unpaid principal balance, net of unamortized discount or premium and debt issue costs. Original-issue discount or premium and debt-issue costs are recognized as a component of interest expense over the period the debt is expected to be outstanding, using the interest method of amortization. Interest expense is generally presented within “General, administrative and other expenses” in the Company’s Consolidated Statements of Operations. Short-term debt is debt coming due in the next twelve months , including that portion of debt otherwise classified as long-term. The short-term debt caption may exclude short-term debt items for which the Company has the intent and ability to refinance on a long-term basis in the near term. See Note 13 for additional information regarding short-term and long-term debt.
Commitments and contingent liabilities	Commitments and contingent liabilities are accrued if it is probable that a liability has been incurred and an amount is reasonably estimable. Management evaluates whether there are incremental legal or other costs directly associated with the ultimate resolution of the matter that are reasonably estimable and, if so, they are included in the accrual. These accruals are generally reported in “Other liabilities”.
Insurance Revenue and Expense Recognition	Insurance Revenue and Expense Recognition Premiums from individual life products, other than universal and variable life contracts, are recognized when due. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net level premium valuation methodology. Premiums from single premium immediate annuities with life contingencies are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium is generally deferred and recognized into revenue based on expected future benefit payments. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net level premium methodology. Certain individual annuity contracts provide the contractholder a guarantee that the benefit received upon death or annuitization will be no less than a minimum prescribed amount. These benefits are accounted for as insurance contracts. The Company also provides contracts with certain living benefits which are considered embedded derivatives. See Note 5 for information regarding the valuation of these embedded derivatives and Note 8 for additional information regarding these contracts. Amounts received as payment for universal or variable individual life contracts, deferred fixed or variable annuities and other contracts without life contingencies are reported as deposits to “Policyholders’ account balances” and/or “Separate account liabilities.” Revenues from these contracts are reflected in “Policy charges and fee income” consisting primarily of fees assessed during the period against the policyholders’ account balances for mortality and other benefit charges, policy administration charges and surrender charges. In addition to fees, the Company earns investment income from the investment of deposits in the Company’s general account portfolio. Fees assessed that represent compensation to the Company for services to be provided in future periods and certain other fees are generally deferred and amortized into revenue over the life of the related contracts in proportion to estimated gross profits. Benefits and expenses for these products include claims in excess of related account balances, expenses of contract administration, interest credited to policyholders’ account balances and amortization of DAC and DSI. Policyholders’ account balances also include amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life products. For additional information regarding the valuation of these embedded derivatives, see Note 5 .
Asset administration fees	Asset administration fees primarily include asset administration fee income received on contractholders’ account balances invested in The Prudential Series Funds, which are a portfolio of mutual fund investments related to the Company’s separate account products. Also, the Company receives fee income calculated on contractholder separate account balances invested in the Advanced Series Trust ("AST") (see Note 13
Other income	Other income includes realized and unrealized gains or losses from investments reported as “Fixed maturities, trading, at fair value”, “Equity securities, at fair value,” and “Other invested assets” that are measured at fair value.
Derivative Financial Instruments	Derivative Financial Instruments Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns, and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk ("NPR") used in valuation models. Derivative financial instruments generally used by the Company include swaps, futures, forwards and options and may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties, while others are bilateral contracts between two counterparties. Derivative positions are carried at fair value, generally by obtaining quoted market prices or through the use of valuation models. Derivatives are used to manage the interest rate and currency characteristics of assets or liabilities. Additionally, derivatives may be used to seek to reduce exposure to interest rate, credit, foreign currency and equity risks associated with assets held or expected to be purchased or sold, and liabilities incurred or expected to be incurred. As discussed in detail below and in Note 4 , all realized and unrealized changes in fair value of derivatives are recorded in current earnings, with the exception of cash flow hedges. Cash flows from derivatives are reported in the operating, investing or financing activities sections in the Consolidated Statements of Cash Flows based on the nature and purpose of the derivative. Derivatives are recorded either as assets, within “Other invested assets”, or as liabilities, within “Payables to parent and affiliates”, except for embedded derivatives which are recorded with the associated host contract. The Company nets the fair value of all derivative financial instruments with counterparties for which a master netting arrangement has been executed. The Company designates derivatives as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow” hedge); or (2) a derivative that does not qualify for hedge accounting. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. Effectiveness of the hedge is formally assessed at inception and throughout the life of the hedging relationship. The Company formally documents at inception all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in its fair value are recorded in AOCI until earnings are affected by the variability of cash flows being hedged (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). At that time, the related portion of deferred gains or losses on the derivative instrument is reclassified and reported in the Consolidated Statements of Operations line item associated with the hedged item. If it is determined that a derivative no longer qualifies as an effective cash flow hedge or management removes the hedge designation, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net”. The component of AOCI related to discontinued cash flow hedges is reclassified to the Consolidated Statements of Operations line associated with the hedged cash flows consistent with the earnings impact of the original hedged cash flows. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, or because it is probable that the forecasted transaction will not occur by the end of the specified time period, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net”. Any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the balance sheet and recognized currently in “Realized investment gains (losses), net”. Gains and losses that were in AOCI pursuant to the hedge of a forecasted transaction are recognized immediately in “Realized investment gains (losses), net”. If a derivative does not qualify for hedge accounting, all changes in its fair value, including net receipts and payments, are included in “Realized investment gains (losses), net” without considering changes in the fair value of the economically associated assets or liabilities. The Company is a party to financial instruments that contain derivative instruments that are “embedded” in the financial instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded instrument possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and (2) a separate instrument with the same terms would qualify as a derivative instrument, the embedded instrument qualifies as an embedded derivative that is separated from the host contract, carried at fair value, and changes in its fair value are included in “Realized investment gains (losses), net.” For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company may elect to carry the entire instrument at fair value and report it within “Fixed maturities, trading, at fair value” or “Equity securities, at fair value". The Company sells variable annuity contracts that include optional living benefit features that may be treated from an accounting perspective as embedded derivatives. The Company had reinsurance agreements to transfer the risks related to certain of these benefit features to an affiliate, Pruco Re through March 31, 2016. Effective April 1, 2016, the Company recaptured the risks related to its variable annuity living benefit guarantees that were previously reinsured to Pruco Re. In addition, the Company reinsured the variable annuity base contracts, along with the living benefit guarantees, to PALAC, excluding the PLNJ business, which was reinsured to Prudential Insurance, in each case under a coinsurance and modified coinsurance agreement. See Note 1 for additional information. The embedded derivatives related to the living benefit features and the related reinsurance agreements are carried at fair value and included in “Future policy benefits" and “Reinsurance recoverables”. Changes in the fair value are determined using valuation models as described in Note 5 and are recorded in “Realized investment gains (losses), net". The Company, excluding its subsidiary, also sells certain universal life products that contain a no lapse guarantee provision that was reinsured with an affiliate, Universal Prudential Arizona Reinsurance Company (“UPARC”). The reinsurance of this no-lapse guarantee resulted in an embedded derivative that incurred market risk primarily in the form of interest rate risk which at times resulted in changes in the reinsurance recoverables that are carried at fair value and included in “Reinsurance recoverables,” for which charges are recorded in “Realized investment gains (losses), net". The Company amended or entered into multiple reinsurance transactions (see Note 9 ). The settlement of recapture and coinsurance premiums related to these reinsurance transactions occurred subsequent to the effective date of the reinsurance transaction. As a result, the recapture and coinsurance premiums were treated as if settled on the effective date and adjusted for the time elapsed between this date and the settlement date. This adjustment was equal to the earned interest and changes in market values from the effective date through the settlement date related to fixed maturity securities from an asset portfolio within the affiliate company. This settlement feature was accounted for as a derivative. As a result of the recapture of the no-lapse guarantee risk from UPARC by Pruco Life on July 1, 2017, as described in Note 9 , this embedded derivative was eliminated.
Accounting for Certain Reinsurance Contracts in the Individual Life Business	Accounting for Certain Reinsurance Contracts in the Individual Life Business In 2017, the Company recognized a pre-tax charge of $2 million , reflecting a change in estimate of reinsurance cash flows associated with universal life products as well as a change in method of reflecting these cash flows in the financial statements. Under the previous method of accounting, with the exception of recoveries pertaining to no lapse guarantees, reinsurance cash flows (e.g., premiums and recoveries) were generally recognized as they occurred. Under the new method, the expected reinsurance cash flows are recognized more ratably over the life of the underlying reinsured policies. In conjunction with this change, the way in which reinsurance is reflected in estimated gross profits used for the amortization of unearned revenue reserves and DAC was also revised. The change represents a change in accounting estimate effected by a change in accounting principle and was included within the Company’s annual reviews and update of assumptions and other refinements. The change in accounting estimate reflected insights gained from revised cash flow modeling enabled by a systems conversion, which prompted the change to a preferable accounting method. This new methodology is viewed as preferable as the Company believes it better reflects the economics of reinsurance transactions by aligning the results of reinsurance activity more closely to the underlying direct insurance activity and by better reflecting the profit pattern of this business for purposes of the amortization of the balances noted above. The impacts of the pre-tax charge of $2 million in the second quarter of 2017 were as follows: Impact of Change in Accounting for Certain Reinsurance Contracts(1) (in millions) Decrease in Policy charges and fee income $ (236 ) Decrease in Policyholders' benefits 253 Increase in Amortization of deferred policy acquisition costs (19 ) Pre-tax charge to income $ (2 ) (1) The corresponding impacts to the Consolidated Statement of Financial Position were a $284 million increase in "Other liabilities", a $247 million increase in "Reinsurance recoverables", a $48 million decrease in "Policyholders’ account balances", a $19 million decrease in "Deferred policy acquisition costs" and a $6 million decrease in "Future policy benefits".
Adoption of New Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB Accounting Standards Codification ("ASC"). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of December 31, 2019 , and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. ASU adopted during the year ended December 31, 2019 Standard Description Effective date and method of adoption Effect on the financial statements or other significant matters ASU 2017-08 , Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities This ASU requires certain premiums on callable debt securities to be amortized to the earliest call date. January 1, 2019 using the modified retrospective method which Adoption of the ASU did not have a significant impact on the Consolidated Financial Statements and Notes to the Consolidated Financial Statements. The impact of the cumulative-effect adjustment to retained earnings was immaterial. ASU 2017-12 , Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU makes targeted changes to the existing hedge accounting model to better portray the economics of an entity’s risk management activities and to simplify the use of hedge accounting. The ASU eliminates separate measurement and recording of hedge ineffectiveness. It requires entities to present the earnings effect of the hedging instrument in the same income statement line item in which the hedged item is reported and also requires expanded disclosures. January 1, 2019 using the modified retrospective method which included cumulative-effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. Adoption of the ASU did not have a significant impact on the Consolidated Financial Statements and Notes to the Consolidated Financial Statements. The impact of the cumulative-effect adjustment to retained earnings and AOCI related to ineffectiveness of the hedge instruments outstanding at the date of the adoption was immaterial. See Note 4 for additional required disclosures.
Future Adoption Of New Accounting Pronouncements	ASU issued but not yet adopted as of December 31, 2019 — ASU 2018-12 ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, was issued by the FASB on August 15, 2018 and is expected to have a significant impact on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements. In October 2019, the FASB issued ASU 2019-09, Financial Services - Insurance (Topic 944): Effective Date to affirm its decision to defer the effective date of ASU 2018-12 to January 1, 2022 (with early adoption permitted), representing a one year extension from the original effective date of January 1, 2021. This ASU will impact, at least to some extent, the accounting and disclosure requirements for all long-duration insurance and investment contracts issued by the Company. Outlined below are four key areas of change, although there are other less significant changes not noted below. In addition to the impacts to the balance sheet upon adoption, the Company also expects an impact to how earnings emerge thereafter. ASU 2018-12 Amended Topic Description Method of adoption Effect on the financial statements or other significant matters Cash flow assumptions used to measure the liability for future policy benefits for non-participating traditional and limited-pay insurance products Requires an entity to review, and if necessary, update the cash flow assumptions used to measure the liability for future policy benefits, for both changes in future assumptions and actual experience, at least annually using a retrospective update method with a cumulative catch-up adjustment recorded in a separate line item in the Consolidated Statements of Operations. An entity may choose one of two adoption methods for the liability for future policy benefits: (1) a modified retrospective transition method whereby the entity will apply the amendments to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or (2) a full retrospective transition method. The options for method of adoption and the impacts of such methods are under assessment. Discount rate assumption used to measure the liability for future policy benefits for non-participating traditional and limited-pay insurance products Requires discount rate assumptions to be based on an upper-medium grade fixed income instrument yield and will be required to be updated each quarter with the impact recorded through OCI. As noted above, an entity may choose either a modified retrospective transition method or full retrospective transition method for the liability for future policy benefits. Under either method, for balance sheet remeasurement purposes, the liability for future policy benefits will be remeasured using current discount rates as of the beginning of the earliest period presented with the impact recorded as a cumulative effect adjustment to AOCI. Upon adoption, under either transition method, there will be an adjustment to AOCI as a result of remeasuring in force contract liabilities using current upper-medium grade fixed income instrument yields. The adjustment upon adoption will largely reflect the difference between the discount rate locked-in at contract inception versus current discount rates at transition. The magnitude of such adjustment is currently being assessed. Amortization of DAC and other balances Requires DAC and other balances, such as unearned revenue reserves and DSI, to be amortized on a constant level basis over the expected term of the related contract, independent of expected profitability. An entity may apply one of two adoption methods: (1) a modified retrospective transition method whereby the entity will apply the amendments to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or (2) if an entity chooses a full retrospective transition method for its liability for future policy benefits, as described above, it is required to also use a retrospective transition method for DAC and other balances. The options for method of adoption and the impacts of such methods are under assessment. Under the modified retrospective transition method, the Company would not expect a significant impact to the balance sheet, other than the impact of the removal of any related amounts in AOCI. Market Risk Benefits Requires an entity to measure all market risk benefits (e.g., living benefit and death benefit guarantees associated with variable annuities) at fair value, and record market risk benefit assets and liabilities separately on the Consolidated Statements of Financial Position. Changes in fair value of market risk benefits are recorded in net income, except for the portion of the change that is attributable to changes in an entity’s non-performance risk (“NPR”), which is recognized in OCI. An entity shall adopt the guidance for market risk benefits using the retrospective transition method, which includes a cumulative-effect adjustment on the balance sheet as of the earliest period presented. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the balance of the market risk benefits upon adoption. Upon adoption, the Company expects an impact to retained earnings for the difference between the fair value and carrying value of benefits not currently measured at fair value (e.g., guaranteed minimum death benefits ("GMDB") on variable annuities) and an impact from reclassifying the cumulative effect of changes in NPR from retained earnings to AOCI. The magnitude of such adjustments is currently being assessed. Other ASUs issued but not yet adopted as of December 31, 2019 Standard Description Effective date and method of adoption Effect on the financial statements or other significant matters ASU 2016-13 , This ASU provides a new current expected credit loss model to account for credit losses on certain financial assets and off-balance sheet exposures (e.g., loans held for investment, debt securities held to maturity, reinsurance receivables, net investments in leases and loan commitments). The model requires an entity to estimate lifetime credit losses related to such financial assets and exposures based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The standard also modifies the current OTTI standard for available-for-sale debt securities to require the use of an allowance rather than a direct write down of the investment, and replaces existing standard for purchased credit deteriorated loans and debt securities. January 1, 2020 using the modified retrospective method which will include a cumulative-effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. However, prospective application is required for purchased credit deteriorated assets previously accounted for under ASC 310-30 and for debt securities for which an OTTI was recognized prior to the date of adoption. Early adoption was permitted beginning January 1, 2019. Adoption of this guidance will result in 1) the recognition of an allowance for credit losses based on the current expected credit loss model on financial assets carried at amortized cost and certain off-balance sheet credit exposures; and 2) related adjustments to retained earnings. We expect the cumulative impact of the adoption to retained earnings, primarily attributable to the reserves for commercial mortgage and other loans, to be immaterial.

Significant Accounting Polici_3

Significant Accounting Policies and Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies and Pronouncements	The impacts of the pre-tax charge of $2 million in the second quarter of 2017 were as follows: Impact of Change in Accounting for Certain Reinsurance Contracts(1) (in millions) Decrease in Policy charges and fee income $ (236 ) Decrease in Policyholders' benefits 253 Increase in Amortization of deferred policy acquisition costs (19 ) Pre-tax charge to income $ (2 ) (1) The corresponding impacts to the Consolidated Statement of Financial Position were a $284 million increase in "Other liabilities", a $247 million increase in "Reinsurance recoverables", a $48 million decrease in "Policyholders’ account balances", a $19 million decrease in "Deferred policy acquisition costs" and a $6 million decrease in "Future policy benefits".

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Fixed Maturities, Available-for-sale Securities	The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI in AOCI(3) (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 83,622 $ 2,846 $ 0 $ 86,468 $ 0 Obligations of U.S. states and their political subdivisions 458,152 39,675 0 497,827 0 Foreign government bonds 196,034 26,793 1 222,826 0 U.S. public corporate securities 1,914,503 229,071 2,247 2,141,327 0 U.S. private corporate securities 886,281 44,497 1,006 929,772 0 Foreign public corporate securities 256,843 22,158 385 278,616 0 Foreign private corporate securities 939,603 38,426 19,551 958,478 0 Asset-backed securities(1) 119,602 800 466 119,936 (7 ) Commercial mortgage-backed securities 367,848 15,231 163 382,916 0 Residential mortgage-backed securities(2) 60,778 3,050 24 63,804 (131 ) Total fixed maturities, available-for-sale $ 5,283,266 $ 422,547 $ 23,843 $ 5,681,970 $ (138 ) (1) Includes credit-tranched securities collateralized by loan obligations, sub-prime mortgages, auto loans, education loans and other asset types. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (3) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $1.7 million of net unrealized gains on impaired available-for-sale securities relating to changes in the value of such securities subsequent to the impairment measurement date. December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI in AOCI(3) (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 75,049 $ 2,427 $ 6 $ 77,470 $ 0 Obligations of U.S. states and their political subdivisions 609,955 15,154 2,351 622,758 0 Foreign government bonds 208,009 2,137 8,199 201,947 0 U.S. public corporate securities 1,739,860 46,166 54,401 1,731,625 0 U.S. private corporate securities 890,748 11,181 18,591 883,338 0 Foreign public corporate securities 270,428 3,746 12,151 262,023 0 Foreign private corporate securities 857,604 9,797 40,022 827,379 0 Asset-backed securities(1) 156,818 1,528 750 157,596 (122 ) Commercial mortgage-backed securities 347,570 3,353 4,527 346,396 0 Residential mortgage-backed securities(2) 88,862 1,268 1,067 89,063 (177 ) Total fixed maturities, available-for-sale $ 5,244,903 $ 96,757 $ 142,065 $ 5,199,595 $ (299 ) (1) Includes credit-tranched securities collateralized by loan obligations, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (3) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $0.4 million of net unrealized losses on impaired available-for-sale securities relating to changes in the value of such securities subsequent to the impairment measurement date.
Duration Of Gross Unrealized Losses On Fixed Maturity Securities	The following tables set forth the fair value and gross unrealized losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the dates indicated: December 31, 2019 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Obligations of U.S. states and their political subdivisions 0 0 0 0 0 0 Foreign government bonds 2,152 1 400 0 2,552 1 U.S. public corporate securities 81,622 984 19,206 1,263 100,828 2,247 U.S. private corporate securities 33,264 780 22,143 226 55,407 1,006 Foreign public corporate securities 3,839 23 9,379 362 13,218 385 Foreign private corporate securities 32,800 921 186,693 18,630 219,493 19,551 Asset-backed securities 32,361 243 55,461 223 87,822 466 Commercial mortgage-backed securities 22,153 163 0 0 22,153 163 Residential mortgage-backed securities 3,049 16 692 8 3,741 24 Total fixed maturities, available-for-sale $ 211,240 $ 3,131 $ 293,974 $ 20,712 $ 505,214 $ 23,843 December 31, 2018 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 630 $ 6 $ 630 $ 6 Obligations of U.S. states and their political subdivisions 124,776 1,571 31,215 780 155,991 2,351 Foreign government bonds 77,055 3,184 59,700 5,015 136,755 8,199 U.S. public corporate securities 784,916 37,635 213,147 16,766 998,063 54,401 U.S. private corporate securities 263,934 9,159 287,031 9,432 550,965 18,591 Foreign public corporate securities 124,764 6,286 72,725 5,865 197,489 12,151 Foreign private corporate securities 424,921 22,605 127,201 17,417 552,122 40,022 Asset-backed securities 112,527 650 6,523 100 119,050 750 Commercial mortgage-backed securities 49,616 434 116,786 4,093 166,402 4,527 Residential mortgage-backed securities 34,249 240 32,432 827 66,681 1,067 Total fixed maturities, available-for-sale $ 1,996,758 $ 81,764 $ 947,390 $ 60,301 $ 2,944,148 $ 142,065
Investments Classified by Contractual Maturity Date	The following table sets forth the amortized cost and fair value of fixed maturities by contractual maturities, as of the date indicated: December 31, 2019 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 139,614 $ 140,916 Due after one year through five years 688,411 697,057 Due after five years through ten years 1,073,731 1,115,368 Due after ten years 2,833,282 3,161,973 Asset-backed securities 119,602 119,936 Commercial mortgage-backed securities 367,848 382,916 Residential mortgage-backed securities 60,778 63,804 Total fixed maturities, available-for-sale $ 5,283,266 $ 5,681,970
Sources of Fixed Maturity Proceeds and Related Investment Gains (Losses) as well as Losses on Impairments	The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on impairments of fixed maturities, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 633,787 $ 234,617 $ 569,151 Proceeds from maturities/prepayments 314,906 326,664 492,944 Gross investment gains from sales and maturities 59,557 1,370 44,458 Gross investment losses from sales and maturities (3,785 ) (11,000 ) (9,956 ) OTTI recognized in earnings(2) (9,034 ) (3,710 ) (7,379 ) (1) Includes $0.0 million , $(0.1) million and $(0.1) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) Excludes the portion of OTTI amounts remaining in OCI, representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of the impairment.
Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company for which a Portion of the OTTI Loss was Recognized in OCI	The following table sets forth a rollforward of pre-tax amounts remaining in OCI related to fixed maturity securities with credit loss impairments recognized in earnings, for the periods indicated: Years Ended December 31, 2019 2018 (in thousands) Credit loss impairments: Balance in OCI, beginning of period $ 1,291 $ 4,374 New credit loss impairments 3,022 0 Increases due to the passage of time on previously recorded credit losses 32 539 Reductions for securities which matured, paid down, prepaid or were sold during the period (679 ) (2,000 ) Reductions for securities impaired to fair value during the period(1) (3,040 ) (1,136 ) Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected (152 ) (486 ) Balance in OCI, end of period $ 474 $ 1,291 (1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Commercial Mortgage and Other Loans	The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: December 31, 2019 December 31, 2018 Amount (in thousands) % of Total Amount (in thousands) % of Total Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 355,175 28.6 % $ 362,811 29.9 % Hospitality 31,449 2.5 16,083 1.3 Industrial 299,803 24.1 263,999 21.8 Office 205,498 16.6 187,450 15.5 Other 136,841 11.0 131,961 10.9 Retail 190,690 15.4 193,473 16.0 Total commercial mortgage loans 1,219,456 98.2 1,155,777 95.4 Agricultural property loans 22,197 1.8 55,438 4.6 Total commercial mortgage and agricultural property loans by property type 1,241,653 100.0 % 1,211,215 100.0 % Allowance for credit losses (1,768 ) (2,065 ) Total commercial mortgage and other loans $ 1,239,885 $ 1,209,150
Allowance for Credit Losses	The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Balance at December 31, 2016 $ 1,513 $ 45 $ 1,558 Addition to (release of) allowance for credit losses 215 21 236 Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2017 $ 1,728 $ 66 $ 1,794 Addition to (release of) allowance for credit losses 298 (27 ) 271 Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2018 $ 2,026 $ 39 $ 2,065 Addition to (release of) allowance for credit losses (283 ) (14 ) (297 ) Charge-offs, net of recoveries 0 0 0 Balance at December 31, 2019 $ 1,743 $ 25 $ 1,768
Allowance for Credit Losses and Recorded Investment in Commercial Mortgage and Other Loans	The following tables set forth the allowance for credit losses and the recorded investment in commercial mortgage and other loans, as of the dates indicated: December 31, 2019 Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance for credit losses: Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 1,743 25 1,768 Total ending balance(1) $ 1,743 $ 25 $ 1,768 Recorded investment(2): Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 1,219,456 22,197 1,241,653 Total ending balance(1) $ 1,219,456 $ 22,197 $ 1,241,653 (1) As of December 31, 2019 , there were no loans acquired with deteriorated credit quality. (2) Recorded investment reflects the carrying value gross of related allowance. December 31, 2018 Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance for credit losses: Individually evaluated for impairment $ 0 $ 0 $ 0 Collectively evaluated for impairment 2,026 39 2,065 Total ending balance(1) $ 2,026 $ 39 $ 2,065 Recorded investment(2): Individually evaluated for impairment $ 0 $ 816 $ 816 Collectively evaluated for impairment 1,155,777 54,622 1,210,399 Total ending balance(1) $ 1,155,777 $ 55,438 $ 1,211,215 (1) As of December 31, 2018 , there were no loans acquired with deteriorated credit quality. (2) Recorded investment reflects the carrying value gross of related allowance.
Financing Receivable Credit Quality Indicators	The following tables set forth certain key credit quality indicators for commercial mortgage and agricultural property loans based upon the recorded investment gross of allowance for credit losses, as of the dates indicated: December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 676,517 $ 18,418 $ 1,912 $ 696,847 60%-69.99% 354,828 12,799 0 367,627 70%-79.99% 149,448 27,506 0 176,954 80% or greater 0 225 0 225 Total commercial mortgage and agricultural property loans $ 1,180,793 $ 58,948 $ 1,912 $ 1,241,653 December 31, 2018 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in thousands) Loan-to-Value Ratio: 0%-59.99% $ 696,507 $ 12,771 $ 80 $ 709,358 60%-69.99% 321,586 18,525 0 340,111 70%-79.99% 105,727 27,790 0 133,517 80% or greater 28,000 229 0 28,229 Total commercial mortgage and agricultural property loans $ 1,151,820 $ 59,315 $ 80 $ 1,211,215
Aging of Past Due Commercial Mortgage and Other Loans and Nonaccrual Status	The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: December 31, 2019 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,219,456 $ 0 $ 0 $ 0 $ 1,219,456 $ 0 Agricultural property loans 22,197 0 0 0 22,197 0 Total $ 1,241,653 $ 0 $ 0 $ 0 $ 1,241,653 $ 0 (1) As of December 31, 2019 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 . December 31, 2018 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 1,155,777 $ 0 $ 0 $ 0 $ 1,155,777 $ 0 Agricultural property loans 55,438 0 0 0 55,438 0 Total $ 1,211,215 $ 0 $ 0 $ 0 $ 1,211,215 $ 0 (1) As of December 31, 2018 , there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 .
Other Invested Assets	The following table sets forth the composition of “Other invested assets,” as of the dates indicated: December 31, 2019 2018 (in thousands) Company's investment in separate accounts $ 46,573 $ 40,126 LPs/LLCs: Equity method: Private equity 189,095 149,164 Hedge funds 64,002 57,171 Real estate-related 42,432 10,251 Subtotal equity method 295,529 216,586 Fair value: Private equity 62,639 60,118 Hedge funds 562 762 Real estate-related 11,707 9,024 Subtotal fair value 74,908 69,904 Total LPs/LLCs 370,437 286,490 Derivative instruments 12,548 50,813 Total other invested assets $ 429,558 $ 377,429
Equity Method Investments	The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities. December 31, 2019 2018 (in thousands) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 26,017,399 $ 3,946,992 Total liabilities(2) $ 164,080 $ 65,903 Partners’ capital 25,853,319 3,881,089 Total liabilities and partners’ capital $ 26,017,399 $ 3,946,992 Total liabilities and partners’ capital included above $ 325,677 $ 269,775 Equity in LP/LLC interests not included above 114,505 83,029 Carrying value $ 440,182 $ 352,804 (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds and other miscellaneous liabilities. Years Ended December 31, 2019 2018 2017 (in thousands) STATEMENTS OF OPERATIONS Total revenue(1) $ 819,904 $ 128,356 $ 319,414 Total expenses(2) (200,666 ) (39,040 ) (31,680 ) Net earnings (losses) $ 619,238 $ 89,316 $ 287,734 Equity in net earnings (losses) included above $ 24,971 $ (2,470 ) $ 12,439 Equity in net earnings (losses) of LP/LLC interests not included above 5,077 (1,452 ) 5,191 Total equity in net earnings (losses) $ 30,048 $ (3,922 ) $ 17,630 (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses.
Net Investment Income	The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities, available-for-sale $ 235,456 $ 220,942 $ 230,060 Fixed maturities, trading 1,374 1,105 834 Equity securities, at fair value 856 885 884 Commercial mortgage and other loans 57,886 49,577 52,127 Policy loans 68,485 66,305 63,884 Short-term investments and cash equivalents 9,266 2,382 1,090 Other invested assets 38,577 2,256 23,518 Gross investment income 411,900 343,452 372,397 Less: investment expenses (18,103 ) (18,165 ) (19,987 ) Net investment income $ 393,797 $ 325,287 $ 352,410
Realized Investment Gains (Losses), Net	The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2019 2018 2017 (in thousands) Fixed maturities(1) $ 46,738 $ (13,340 ) $ 27,123 Equity securities(2) 0 0 (125 ) Commercial mortgage and other loans 297 (271 ) (337 ) LPs/LLCs (3,400 ) 849 (221 ) Derivatives (160,368 ) (154,208 ) (106,625 ) Short-term investments and cash equivalents (16 ) (308 ) (1 ) Realized investment gains (losses), net $ (116,749 ) $ (167,278 ) $ (80,186 ) (1) Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading. (2) Effective January 1, 2018, realized gains (losses) on equity securities are recorded within “Other income.”
Net Unrealized Gains and (Losses) on Investments	The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: December 31, 2019 2018 2017 (in thousands) Fixed maturity securities, available-for-sale—with OTTI $ 1,568 $ (689 ) $ 1,609 Fixed maturity securities, available-for-sale—all other 397,136 (44,619 ) 279,749 Equity securities, available-for-sale(1) 0 0 2,368 Derivatives designated as cash flow hedges(2) 26,126 22,122 (17,678 ) Affiliated notes 4,715 810 4,782 Other investments (4,365 ) 5,055 3,588 Net unrealized gains (losses) on investments $ 425,180 $ (17,321 ) $ 274,418 (1) Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded within “Other income.” (2) For more information on cash flow hedges, see Note 4.
Repurchase Agreements and Securities Lending	The following table sets forth the composition of “Cash collateral for loaned securities,” which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: December 31, 2019 December 31, 2018 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in thousands) U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 8,169 $ 0 $ 8,169 U.S. public corporate securities 5,048 0 5,048 628 0 628 Foreign public corporate securities 2,481 0 2,481 2,266 0 2,266 Total cash collateral for loaned securities(1) $ 7,529 $ 0 $ 7,529 $ 11,063 $ 0 $ 11,063 (1) The Company did not have agreements with remaining contractual maturities of thirty days or greater, as of the dates indicated.
Securities Pledged	The following table sets forth the carrying value of investments pledged to third parties and the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2019 2018 (in thousands) Pledged collateral: Fixed maturity securities, available-for-sale $ 7,292 $ 10,836 Total securities pledged $ 7,292 $ 10,836 Liabilities supported by the pledged collateral: Cash collateral for loaned securities $ 7,529 $ 11,063 Total liabilities supported by the pledged collateral $ 7,529 $ 11,063

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral. December 31, 2019 December 31, 2018 Primary Underlying Risk/Instrument Type Gross Notional Fair Value Gross Notional Fair Value Assets Liabilities Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 3,615 $ 0 $ (50 ) $ 0 $ 0 $ 0 Foreign Currency Swaps 773,933 36,551 (12,471 ) 719,476 38,333 (16,638 ) Total Derivatives Designated as Hedge Accounting Instruments $ 777,548 $ 36,551 $ (12,521 ) $ 719,476 $ 38,333 $ (16,638 ) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 569,925 $ 33,256 $ (4,490 ) $ 246,925 $ 15,665 $ (3,174 ) Foreign Currency Foreign Currency Forwards 21,580 0 (518 ) 23,043 277 (20 ) Credit Credit Default Swaps 0 0 0 756 0 (9 ) Currency/Interest Rate Foreign Currency Swaps 151,792 7,563 (1,892 ) 98,363 6,303 (2,109 ) Equity Equity Options 2,680,048 174,398 (78,381 ) 1,981,693 17,312 (4,912 ) Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 3,423,345 $ 215,217 $ (85,281 ) $ 2,350,780 $ 39,557 $ (10,224 ) Total Derivatives (1)(2) $ 4,200,893 $ 251,768 $ (97,802 ) $ 3,070,256 $ 77,890 $ (26,862 ) (1) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $ 8,530 million and $ 5,589 million as of December 31, 2019 and 2018 , respectively included in "Future policy benefits" and $ 962 million and $ 13 million as of December 31, 2019 and 2018 , respectively included in "Policyholders' account balances". The fair value of the related reinsurance, included in "Reinsurance recoverables" or "Other liabilities" was an asset of $ 8,540 million and $ 5,600 million as of December 31, 2019 and 2018 , respectively. (2) Recorded in “Other invested assets” and “Other liabilities” on the Consolidated Statements of Financial Position.
Offsetting of Financial Assets	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position. December 31, 2019 Gross Amounts of Recognized Financial Instruments Gross Amounts Offset in the Consolidated Statement of Financial Position Net Amounts Presented in the Consolidated Statement of Financial Position Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Offsetting of Financial Liabilities: Derivatives(1) $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 December 31, 2018 Gross Amounts of Recognized Financial Instruments Gross Net Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 77,887 $ (27,078 ) $ 50,809 $ (7,307 ) $ 43,502 Securities purchased under agreements to resell 143,000 0 143,000 (143,000 ) 0 Total Assets $ 220,887 $ (27,078 ) $ 193,809 $ (150,307 ) $ 43,502 Offsetting of Financial Liabilities: Derivatives(1) $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Offsetting of Financial Liabilities	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position. December 31, 2019 Gross Amounts of Recognized Financial Instruments Gross Amounts Offset in the Consolidated Statement of Financial Position Net Amounts Presented in the Consolidated Statement of Financial Position Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 251,765 $ (239,220 ) $ 12,545 $ (12,545 ) $ 0 Offsetting of Financial Liabilities: Derivatives(1) $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 97,802 $ (97,802 ) $ 0 $ 0 $ 0 December 31, 2018 Gross Amounts of Recognized Financial Instruments Gross Net Financial Instruments/ Collateral(1) Net Amount (in thousands) Offsetting of Financial Assets: Derivatives(1) $ 77,887 $ (27,078 ) $ 50,809 $ (7,307 ) $ 43,502 Securities purchased under agreements to resell 143,000 0 143,000 (143,000 ) 0 Total Assets $ 220,887 $ (27,078 ) $ 193,809 $ (150,307 ) $ 43,502 Offsetting of Financial Liabilities: Derivatives(1) $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 26,862 $ (26,862 ) $ 0 $ 0 $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship. Year Ended December 31, 2019 Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 0 $ 0 $ 0 $ (50 ) Currency/Interest Rate 425 9,007 (1,698 ) 4,081 Total cash flow hedges 425 9,007 (1,698 ) 4,031 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 18,609 0 0 0 Currency 20 0 0 0 Currency/Interest Rate 3,485 0 (5 ) 0 Credit (1 ) 0 0 0 Equity 74,068 0 0 0 Embedded Derivatives (256,974 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (160,793 ) 0 (5 ) 0 Total $ (160,368 ) $ 9,007 $ (1,703 ) $ 4,031 Year Ended December 31, 2018(2) Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Currency/Interest Rate $ (997 ) $ 6,819 $ 10,066 $ 39,801 Total cash flow hedges (997 ) 6,819 10,066 39,801 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (7,688 ) 0 0 0 Currency 1,475 0 0 0 Currency/Interest Rate 6,395 0 44 0 Credit (2 ) 0 0 0 Equity (27,212 ) 0 0 0 Embedded Derivatives (126,179 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (153,211 ) 0 44 0 Total $ (154,208 ) $ 6,819 $ 10,110 $ 39,801 Year Ended December 31, 2017(2) Realized Investment Gains (Losses) Net Investment Income Other Income AOCI (1) (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Currency/Interest Rate $ 1,061 $ 6,071 $ (8,234 ) $ (58,609 ) Total cash flow hedges 1,061 6,071 (8,234 ) (58,609 ) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (1,565 ) 0 0 0 Currency (1,316 ) 0 0 0 Currency/Interest Rate (8,306 ) 0 (71 ) 0 Credit (46 ) 0 0 0 Equity 30,466 0 0 0 Embedded Derivatives (126,919 ) 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (107,686 ) 0 (71 ) 0 Total $ (106,625 ) $ 6,071 $ (8,305 ) $ (58,609 ) (1) Net change in AOCI. (2) Prior period amounts have been updated to conform to current period presentation.
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income(Loss) Before Taxes	Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in thousands) Balance, December 31, 2016 $ 40,931 Amount recorded in AOCI Currency/Interest Rate (59,712 ) Total amount recorded in AOCI (59,712 ) Amount reclassified from AOCI to income Currency/Interest Rate 1,103 Total amount reclassified from AOCI to income 1,103 Balance, December 31, 2017 $ (17,678 ) Amount recorded in AOCI Currency/Interest Rate 55,689 Total amount recorded in AOCI 55,689 Amount reclassified from AOCI to income Currency/Interest Rate (15,889 ) Total amount reclassified from AOCI to income (15,889 ) Balance, December 31, 2018 $ 22,122 Cumulative-effect adjustment from the adoption of ASU 2017-12(1) (27 ) Amount recorded in AOCI Interest Rate (50 ) Currency/Interest Rate 11,815 Total amount recorded in AOCI 11,765 Amount reclassified from AOCI to income Currency/Interest Rate (7,734 ) Total amount reclassified from AOCI to income (7,734 ) Balance, December 31, 2019 $ 26,126 (1) See Note 2 for details.

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated. As of December 31, 2019 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 47,797 $ 38,671 $ 0 $ 86,468 Obligations of U.S. states and their political subdivisions 0 497,827 0 0 497,827 Foreign government bonds 0 222,663 163 0 222,826 U.S. corporate public securities 0 2,141,324 3 0 2,141,327 U.S. corporate private securities 0 893,943 35,829 0 929,772 Foreign corporate public securities 0 278,435 181 0 278,616 Foreign corporate private securities 0 944,408 14,070 0 958,478 Asset-backed securities(2) 0 117,935 2,001 0 119,936 Commercial mortgage-backed securities 0 382,916 0 0 382,916 Residential mortgage-backed securities 0 63,804 0 0 63,804 Subtotal 0 5,591,052 90,918 0 5,681,970 Fixed maturities, trading 0 59,296 668 0 59,964 Equity securities 131 465 9,898 0 10,494 Short-term investments 0 0 0 0 0 Cash equivalents 0 547,642 0 0 547,642 Other invested assets(3) 0 251,764 4 (239,220 ) 12,548 Reinsurance recoverables 0 0 8,539,671 0 8,539,671 Receivables from parent and affiliates 0 119,431 3,135 0 122,566 Subtotal excluding separate account assets 131 6,569,650 8,644,294 (239,220 ) 14,974,855 Separate account assets(4)(5) 0 133,625,669 0 0 133,625,669 Total assets $ 131 $ 140,195,319 $ 8,644,294 $ (239,220 ) $ 148,600,524 Future policy benefits(6) $ 0 $ 0 $ 8,529,566 $ 0 $ 8,529,566 Policyholders' account balances 0 0 962,351 0 962,351 Payables to parent and affiliates 0 97,802 0 (97,802 ) 0 Total liabilities $ 0 $ 97,802 $ 9,491,917 $ (97,802 ) $ 9,491,917 As of December 31, 2018 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 47,654 $ 29,816 $ 0 $ 77,470 Obligations of U.S. states and their political subdivisions 0 622,758 0 0 622,758 Foreign government bonds 0 201,947 0 0 201,947 U.S. corporate public securities 0 1,731,623 2 0 1,731,625 U.S. corporate private securities 0 838,497 44,841 0 883,338 Foreign corporate public securities 0 262,023 0 0 262,023 Foreign corporate private securities 0 815,634 11,745 0 827,379 Asset-backed securities(2) 0 151,040 6,556 0 157,596 Commercial mortgage-backed securities 0 346,396 0 0 346,396 Residential mortgage-backed securities 0 89,063 0 0 89,063 Subtotal 0 5,106,635 92,960 0 5,199,595 Fixed maturities, trading 0 41,627 0 0 41,627 Equity securities 131 20,794 15,997 0 36,922 Short-term investments 0 0 0 0 0 Cash equivalents 69,903 147,043 0 0 216,946 Other invested assets(3) 0 77,886 4 (27,078 ) 50,812 Reinsurance recoverables 0 0 5,600,008 0 5,600,008 Receivables from parent and affiliates 0 125,381 9,261 0 134,642 Subtotal excluding separate account assets 70,034 5,519,366 5,718,230 (27,078 ) 11,280,552 Separate account assets(4)(5) 0 114,947,872 0 0 114,947,872 Total assets $ 70,034 $ 120,467,238 $ 5,718,230 $ (27,078 ) $ 126,228,424 Future policy benefits(6) $ 0 $ 0 $ 5,588,840 $ 0 $ 5,588,840 Policyholders' account balances 0 0 13,015 0 13,015 Payables to parent and affiliates 0 26,862 0 (26,862 ) 0 Total liabilities $ 0 $ 26,862 $ 5,601,855 $ (26,862 ) $ 5,601,855 (1) “Netting” amounts represent cash collateral of $141.4 million and $0.2 million as of December 31, 2019 and 2018 , respectively. (2) Includes credit tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (3) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. At December 31, 2019 and 2018 , the fair values of such investments were $75 million and $70 million , respectively. (4) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Consolidated Statements of Financial Position. (5) Separate account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate, hedge funds and a corporate owned life insurance fund, for which fair value is measured at NAV per share (or its equivalent). At December 31, 2019 and 2018 , the fair value of such investments was $4,762 million and $4,130 million , respectively. (6) As of December 31, 2019 , the net embedded derivative liability position of $8,530 million includes $611 million of embedded derivatives in an asset position and $9,141 million of embedded derivatives in a liability position. As of December 31, 2018 , the net embedded derivative liability position of $5,589 million includes $633 million of embedded derivatives in an asset position and $6,222 million of embedded derivatives in a liability position.
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The tables below present quantitative information on significant internally-priced Level 3 assets and liabilities. As of December 31, 2019 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 27,816 Discounted cash flow Discount rate 5.24 % 17.47 % 8.25 % Decrease Market Comparables EBITDA multiples(3) 5.7 X 5.7 X 5.7 X Increase Reinsurance recoverables $ 8,539,671 Fair values are determined using the same unobservable inputs as future policy benefits. Liabilities: Future policy benefits(4) $ 8,529,566 Discounted cash flow Lapse rate(6) 1 % 18 % Decrease Spread over LIBOR(7) 0.10 % 1.23 % Decrease Utilization rate(8) 43 % 97 % Increase Withdrawal rate See table footnote (9) below. Mortality rate(10) 0 % 15 % Decrease Equity volatility curve 13 % 23 % Increase Policyholders' account balances(5) $ 962,351 Discounted cash flow Lapse rate(6) 1 % 6 % Decrease Spread over LIBOR(7) 0.10 % 1.23 % Decrease Mortality rate(10) 0 % 24 % Decrease Equity volatility curve 10 % 23 % Increase As of December 31, 2018 Fair Value Valuation Techniques Unobservable Inputs Minimum Maximum Weighted Average Impact of Increase in Input on Fair Value(1) (in thousands) Assets: Corporate securities(2) $ 31,503 Discounted cash flow Discount rate 7 % 20 % 10.21 % Decrease Liquidation Liquidation value 40.71 % 40.71 % 40.71 % Increase Reinsurance recoverables $ 5,600,008 Fair values are determined using the same unobservable inputs as future policy benefits. Liabilities: Future policy benefits(4) $ 5,588,840 Discounted cash flow Lapse rate(6) 1 % 13 % Decrease Spread over LIBOR(7) 0.36 % 1.60 % Decrease Utilization rate(8) 50 % 97 % Increase Withdrawal rate See table footnote (9) below. Mortality rate(10) 0 % 15 % Decrease Equity volatility curve 18 % 22 % Increase (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities and available-for-sale. (3) Represents multiples of earnings before interest, taxes, depreciation and amortization "EBITDA", and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (4) Future policy benefits primarily represent general account liabilities for the living benefit features of the Company’s variable annuity contracts which are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (5) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (6) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (7) The spread over the LIBOR swap curve represents the premium added to the proxy for the risk-free rate (LIBOR) to reflect the Company's estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. (8) The utilization rate assumption estimates the percentage of contracts that will utilize the benefit during the contract duration and begin lifetime withdrawals at various time intervals from contract inception. The remaining contractholders are assumed to either begin lifetime withdrawals immediately or never utilize the benefit. Utilization assumptions may vary by product type, tax status and age. The impact of changes in these assumptions is highly dependent on the product type, the age of the contractholder at the time of the sale, and the timing of the first lifetime income withdrawal. Range reflects the utilization rate for the vast majority of business with living benefits. (9) The withdrawal rate assumption estimates the magnitude of annual contractholder withdrawals relative to the maximum allowable amount under the contract. These assumptions vary based on the age of the contractholder, the tax status of the contract and the duration since the contractholder began lifetime withdrawals. As of both December 31, 2019 and 2018 , the minimum withdrawal rate assumption is 78% and the maximum withdrawal rate assumption may be greater than 100% . The fair value of the liability will generally increase the closer the withdrawal rate is to 100% and decrease as the withdrawal rate moves further away from 100%. (10) The range reflects the mortality rates for the vast majority of business with living benefits and other contracts, with policyholders ranging from 45 to 90 years old. While the majority of living benefits have a minimum age requirement, certain other contracts do not have an age restriction. This results in contractholders with mortality rates approaching 0% for certain benefits. Mortality rates may vary by product, age, and duration. A mortality improvement assumption is also incorporated into the overall mortality table.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods. When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses)(1) Purchases Sales Issuances Settlements Other(2) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(3) (in thousands) Fixed maturities, available-for-sale: U.S. government $ 29,816 $ 0 $ 8,855 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 38,671 $ 0 Foreign government 0 4 0 0 0 0 0 159 0 163 0 Corporate securities(4) 56,588 (5,229 ) 4,226 (81 ) 0 (18,884 ) 0 13,463 0 50,083 (8,467 ) Structured securities(5) 6,556 1,322 0 (130 ) 0 (6,336 ) 0 77,660 (77,071 ) 2,001 0 Other assets: Fixed maturities, trading 0 (83 ) 0 0 0 0 0 751 0 668 (83 ) Equity securities 15,997 1,668 0 (7,767 ) 0 0 0 0 0 9,898 1,534 Other invested assets 4 0 0 0 0 0 0 0 0 4 0 Short-term investments 0 0 1,388 0 0 (1,388 ) 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 0 0 0 Reinsurance recoverables 5,600,008 1,936,363 1,003,300 0 0 0 0 0 0 8,539,671 2,142,421 Receivables from parent and affiliates 9,261 190 0 0 0 (6,316 ) 0 0 0 3,135 0 Liabilities: Future policy benefits (5,588,840 ) (1,945,323 ) 0 0 (995,403 ) 0 0 0 0 (8,529,566 ) (2,151,380 ) Policyholders' account balances(6) (13,015 ) (765,917 ) 0 0 (183,419 ) 0 0 0 0 (962,351 ) (759,661 ) Year Ended December 31, 2019 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ (8,198 ) $ 0 $ 3,615 $ 680 $ (8,467 ) $ 0 Other assets: Fixed maturities, trading 0 (83 ) 0 0 0 (83 ) Equity securities 0 1,668 0 0 0 1,534 Other invested assets 0 0 0 0 0 0 Short-term investments 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 Reinsurance recoverables 1,936,363 0 0 0 2,142,421 0 Receivables from parent and affiliates 0 0 0 190 0 0 Liabilities: Future policy benefits (1,945,323 ) 0 0 0 (2,151,380 ) 0 Policyholders' account balances (765,917 ) 0 0 0 (759,661 ) 0 Year Ended December 31, 2018 Fair Value, beginning of period Total realized and unrealized gains (losses)(1) Purchases Sales Issuances Settlements Other(2) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(3) (in thousands) Fixed maturities, available-for-sale: U.S. government $ 19,204 $ 0 $ 10,679 $ (67 ) $ 0 $ 0 $ 0 $ 0 $ 0 $ 29,816 $ 0 Foreign government 0 (15 ) 0 0 0 0 174 0 (159 ) 0 0 Corporate securities(4) 75,421 (6,642 ) 13,573 (215 ) 0 (39,459 ) 15 18,877 (4,982 ) 56,588 (1,944 ) Structured securities(5) 111,028 (540 ) 31,067 (10,844 ) 0 (10,216 ) 0 13,513 (127,452 ) 6,556 0 Other assets: Equity securities 17,525 (1,453 ) 0 (75 ) 0 0 0 0 0 15,997 (1,453 ) Other invested assets 0 (5 ) 0 0 0 0 0 18 (9 ) 4 (5 ) Short-term investments 1,339 (47 ) 11,106 (73 ) 0 (12,311 ) (14 ) 0 0 0 (19 ) Cash equivalents 0 (256 ) 4,987 (465 ) 0 (4,266 ) 0 0 0 0 0 Reinsurance recoverables 5,457,649 (782,025 ) 924,384 0 0 0 0 0 0 5,600,008 (573,853 ) Receivables from parent and affiliates 0 47 9,719 0 0 (525 ) 0 6,551 (6,531 ) 9,261 0 Liabilities: Future policy benefits (5,452,583 ) 780,261 0 0 (916,518 ) 0 0 0 0 (5,588,840 ) 572,088 Policyholders' account balances(6) (46,651 ) 24,405 0 0 0 9,231 0 0 0 (13,015 ) 24,405 Year Ended December 31, 2018 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,600 ) $ 0 $ (6,015 ) $ 418 $ (1,944 ) $ 0 Other assets: Equity securities 0 (1,453 ) 0 0 0 (1,453 ) Other invested assets (5 ) 0 0 0 (5 ) 0 Short-term investments (47 ) 0 0 0 (19 ) 0 Cash equivalents (256 ) 0 0 0 0 0 Reinsurance recoverables (782,025 ) 0 0 0 (573,853 ) 0 Receivables from parent and affiliates 0 0 (20 ) 67 0 0 Liabilities: Future policy benefits 780,261 0 0 0 572,088 0 Policyholders' account balances 24,405 0 0 0 24,405 0 The following tables summarize the portion of changes in fair values of Level 3 assets and liabilities included in earnings and OCI for the year ended December 31, 2017 , as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held as of December 31, 2017 . Year Ended December 31, 2017 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ 2,001 $ 0 $ (1,588 ) $ 270 $ (2,736 ) $ 0 Other assets: Equity securities 1,707 0 (38 ) 0 0 2,345 Other invested assets 0 0 0 0 0 0 Short-term investments 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 Reinsurance recoverables (158,623 ) 0 0 0 (315,998 ) 0 Receivables from parent and affiliates 0 0 0 0 0 0 Liabilities: Future policy benefits 463,432 0 0 0 313,532 0 Policyholders' account balances (30,991 ) 0 0 0 (30,991 ) 0 (1) Realized investment gains (losses) on future policy benefits and reinsurance recoverables primarily represent the change in the fair value of the Company's living benefit guarantees on certain of its variable annuity contracts. (2) Other includes reclassifications of certain asset and liabilities between reporting categories. (3) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (4) Includes U.S. corporate public, U.S. corporate private, foreign corporate public and foreign corporate private securities. (5) Includes asset-backed, commercial mortgage-backed and residential mortgage-backed securities. (6) Issuances and settlements for Policyholders' account balances are presented net in the rollforward.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods. When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses)(1) Purchases Sales Issuances Settlements Other(2) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(3) (in thousands) Fixed maturities, available-for-sale: U.S. government $ 29,816 $ 0 $ 8,855 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 38,671 $ 0 Foreign government 0 4 0 0 0 0 0 159 0 163 0 Corporate securities(4) 56,588 (5,229 ) 4,226 (81 ) 0 (18,884 ) 0 13,463 0 50,083 (8,467 ) Structured securities(5) 6,556 1,322 0 (130 ) 0 (6,336 ) 0 77,660 (77,071 ) 2,001 0 Other assets: Fixed maturities, trading 0 (83 ) 0 0 0 0 0 751 0 668 (83 ) Equity securities 15,997 1,668 0 (7,767 ) 0 0 0 0 0 9,898 1,534 Other invested assets 4 0 0 0 0 0 0 0 0 4 0 Short-term investments 0 0 1,388 0 0 (1,388 ) 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 0 0 0 Reinsurance recoverables 5,600,008 1,936,363 1,003,300 0 0 0 0 0 0 8,539,671 2,142,421 Receivables from parent and affiliates 9,261 190 0 0 0 (6,316 ) 0 0 0 3,135 0 Liabilities: Future policy benefits (5,588,840 ) (1,945,323 ) 0 0 (995,403 ) 0 0 0 0 (8,529,566 ) (2,151,380 ) Policyholders' account balances(6) (13,015 ) (765,917 ) 0 0 (183,419 ) 0 0 0 0 (962,351 ) (759,661 ) Year Ended December 31, 2019 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ (8,198 ) $ 0 $ 3,615 $ 680 $ (8,467 ) $ 0 Other assets: Fixed maturities, trading 0 (83 ) 0 0 0 (83 ) Equity securities 0 1,668 0 0 0 1,534 Other invested assets 0 0 0 0 0 0 Short-term investments 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 Reinsurance recoverables 1,936,363 0 0 0 2,142,421 0 Receivables from parent and affiliates 0 0 0 190 0 0 Liabilities: Future policy benefits (1,945,323 ) 0 0 0 (2,151,380 ) 0 Policyholders' account balances (765,917 ) 0 0 0 (759,661 ) 0 Year Ended December 31, 2018 Fair Value, beginning of period Total realized and unrealized gains (losses)(1) Purchases Sales Issuances Settlements Other(2) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(3) (in thousands) Fixed maturities, available-for-sale: U.S. government $ 19,204 $ 0 $ 10,679 $ (67 ) $ 0 $ 0 $ 0 $ 0 $ 0 $ 29,816 $ 0 Foreign government 0 (15 ) 0 0 0 0 174 0 (159 ) 0 0 Corporate securities(4) 75,421 (6,642 ) 13,573 (215 ) 0 (39,459 ) 15 18,877 (4,982 ) 56,588 (1,944 ) Structured securities(5) 111,028 (540 ) 31,067 (10,844 ) 0 (10,216 ) 0 13,513 (127,452 ) 6,556 0 Other assets: Equity securities 17,525 (1,453 ) 0 (75 ) 0 0 0 0 0 15,997 (1,453 ) Other invested assets 0 (5 ) 0 0 0 0 0 18 (9 ) 4 (5 ) Short-term investments 1,339 (47 ) 11,106 (73 ) 0 (12,311 ) (14 ) 0 0 0 (19 ) Cash equivalents 0 (256 ) 4,987 (465 ) 0 (4,266 ) 0 0 0 0 0 Reinsurance recoverables 5,457,649 (782,025 ) 924,384 0 0 0 0 0 0 5,600,008 (573,853 ) Receivables from parent and affiliates 0 47 9,719 0 0 (525 ) 0 6,551 (6,531 ) 9,261 0 Liabilities: Future policy benefits (5,452,583 ) 780,261 0 0 (916,518 ) 0 0 0 0 (5,588,840 ) 572,088 Policyholders' account balances(6) (46,651 ) 24,405 0 0 0 9,231 0 0 0 (13,015 ) 24,405 Year Ended December 31, 2018 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,600 ) $ 0 $ (6,015 ) $ 418 $ (1,944 ) $ 0 Other assets: Equity securities 0 (1,453 ) 0 0 0 (1,453 ) Other invested assets (5 ) 0 0 0 (5 ) 0 Short-term investments (47 ) 0 0 0 (19 ) 0 Cash equivalents (256 ) 0 0 0 0 0 Reinsurance recoverables (782,025 ) 0 0 0 (573,853 ) 0 Receivables from parent and affiliates 0 0 (20 ) 67 0 0 Liabilities: Future policy benefits 780,261 0 0 0 572,088 0 Policyholders' account balances 24,405 0 0 0 24,405 0 The following tables summarize the portion of changes in fair values of Level 3 assets and liabilities included in earnings and OCI for the year ended December 31, 2017 , as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held as of December 31, 2017 . Year Ended December 31, 2017 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(3) Realized investment gains (losses), net(1) Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) (in thousands) Fixed maturities, available-for-sale $ 2,001 $ 0 $ (1,588 ) $ 270 $ (2,736 ) $ 0 Other assets: Equity securities 1,707 0 (38 ) 0 0 2,345 Other invested assets 0 0 0 0 0 0 Short-term investments 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 Reinsurance recoverables (158,623 ) 0 0 0 (315,998 ) 0 Receivables from parent and affiliates 0 0 0 0 0 0 Liabilities: Future policy benefits 463,432 0 0 0 313,532 0 Policyholders' account balances (30,991 ) 0 0 0 (30,991 ) 0 (1) Realized investment gains (losses) on future policy benefits and reinsurance recoverables primarily represent the change in the fair value of the Company's living benefit guarantees on certain of its variable annuity contracts. (2) Other includes reclassifications of certain asset and liabilities between reporting categories. (3) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (4) Includes U.S. corporate public, U.S. corporate private, foreign corporate public and foreign corporate private securities. (5) Includes asset-backed, commercial mortgage-backed and residential mortgage-backed securities. (6) Issuances and settlements for Policyholders' account balances are presented net in the rollforward.
Fair Value Disclosure Financial Instruments Not Carried at Fair Value	The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value. The financial instruments presented below are reported at carrying value on the Company’s Consolidated Statements of Financial Position. In some cases, as described below, the carrying amount equals or approximates fair value. December 31, 2019 Fair Value Carrying Amount(1) Level 1 Level 2 Level 3 Total Total (in thousands) Assets: Commercial mortgage and other loans $ 0 $ 0 $ 1,288,625 $ 1,288,625 $ 1,239,885 Policy loans 0 0 1,314,064 1,314,064 1,314,064 Cash and cash equivalents 15,557 0 0 15,557 15,557 Accrued investment income 0 89,448 0 89,448 89,448 Reinsurance recoverables 0 0 212,368 212,368 211,813 Receivables from parent and affiliates 0 149,415 0 149,415 149,415 Other assets 0 22,505 0 22,505 22,505 Total assets $ 15,557 $ 261,368 $ 2,815,057 $ 3,091,982 $ 3,042,687 Liabilities: Policyholders’ account balances - investment contracts $ 0 $ 1,264,128 $ 277,782 $ 1,541,910 $ 1,541,355 Cash collateral for loaned securities 0 7,529 0 7,529 7,529 Short-term debt to affiliates 0 2,845 0 2,845 2,845 Payables to parent and affiliates 0 216,842 0 216,842 216,842 Other liabilities 0 387,109 0 387,109 387,109 Total liabilities $ 0 $ 1,878,453 $ 277,782 $ 2,156,235 $ 2,155,680 December 31, 2018 Fair Value Carrying Amount (1) Level 1 Level 2 Level 3 Total Total (in thousands) Assets: Commercial mortgage and other loans $ 0 $ 0 $ 1,214,350 $ 1,214,350 $ 1,209,150 Policy loans 0 0 1,236,077 1,236,077 1,236,077 Cash and cash equivalents 56,894 143,000 0 199,894 199,894 Accrued investment income 0 88,278 0 88,278 88,278 Reinsurance recoverables 0 0 0 0 0 Receivables from parent and affiliates 0 154,938 0 154,938 154,938 Other assets 0 28,950 0 28,950 28,950 Total assets $ 56,894 $ 415,166 $ 2,450,427 $ 2,922,487 $ 2,917,287 Liabilities: Policyholders’ account balances - investment contracts $ 0 $ 1,206,747 $ 272,322 $ 1,479,069 $ 1,486,929 Cash collateral for loaned securities 0 11,063 0 11,063 11,063 Short-term debt to affiliates 0 0 0 0 0 Payables to parent and affiliates 0 229,345 0 229,345 229,345 Other liabilities 0 372,997 0 372,997 372,997 Total liabilities $ 0 $ 1,820,152 $ 272,322 $ 2,092,474 $ 2,100,334 (1) Carrying values presented herein differ from those in the Company’s Consolidated Statements of Financial Position because certain items within the respective financial statement captions are not considered financial instruments or out of scope under authoritative guidance relating to disclosures of the fair value of financial instruments.

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule Of Deferred Acquisition Costs	The balances of and changes in DAC as of and for the years ended December 31, are as follows: 2019 2018 2017 (in thousands) Balance, beginning of year $ 1,613,922 $ 1,376,211 $ 1,341,093 Capitalization of commissions, sales and issue expenses 451,773 346,885 278,892 Amortization-Impact of assumption and experience unlocking and true-ups (34,619 ) (54,772 ) (16,140 ) Amortization-All other (78,699 ) (81,054 ) (78,867 ) Change in unrealized investment gains and losses (37,337 ) 26,652 (5,363 ) Other(1) (59,342 ) 0 (143,404 ) Balance, end of year $ 1,855,698 $ 1,613,922 $ 1,376,211 (1) Represents ceded DAC upon reinsurance agreement with Prudential Arizona Reinsurance Term Company and Prudential Arizona Reinsurance Captive Company in 2019 and Gibraltar Universal Life Reinsurance Company ("GUL Re") in 2017. See Note 9 for additional information.

Policyholders' Liabilities (Tab

Policyholders' Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Liability for Future Policy Benefit, before Reinsurance [Abstract]
Schedule of Liability for Future Policy Benefits and Policyholders' Account Balances	Future policy benefits at December 31 for the years indicated are as follows: 2019 2018 (in thousands) Life insurance – domestic $ 14,522,350 $ 11,831,419 Life insurance – Taiwan 1,493,716 1,408,598 Individual and group annuities and supplementary contracts 677,266 609,457 Other contract liabilities 8,565,341 5,626,920 Total future policy benefits $ 25,258,673 $ 19,476,394 Policyholders’ account balances at December 31 for the years indicated are as follows: 2019 2018 (in thousands) Interest-sensitive life contracts $ 17,793,669 $ 17,167,713 Individual annuities 3,613,971 3,444,327 Guaranteed interest accounts 207,038 240,886 Other 1,264,145 1,206,766 Total policyholders’ account balances $ 22,878,823 $ 22,059,692

Certain Long-Duration Contrac_2

Certain Long-Duration Contracts With Guarantees (Tables)	12 Months Ended
	Dec. 31, 2019
Long-Duration Contracts, Assumptions Supporting Guarantee Obligations [Abstract]
Schedule of Net Amount of Risk by Product and Guarantee	As of December 31, 2019 and 2018 , the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2019 December 31, 2018 In the Event of At Annuitization/ In the Event of At Annuitization/ Accumulation(1)(2) (in thousands) Annuity Contracts Return of net deposits Account value $ 101,413,706 N/A $ 87,412,536 N/A Net amount at risk $ 23,061 N/A $ 656,027 N/A Average attained age of contractholders 67 years N/A 66 years N/A Minimum return or contract value Account value $ 20,008,013 $ 111,734,329 $ 18,574,416 $ 97,055,710 Net amount at risk $ 1,423,229 $ 2,214,835 $ 3,186,237 $ 4,510,250 Average attained age of contractholders 70 years 68 years 70 years 67 years Average period remaining until earliest expected annuitization N/A 0 years N/A 0 years (1) Balances are gross of reinsurance. (2) Includes income and withdrawal benefits. December 31, 2019 December 31, 2018 In the Event of Death(1)(2) (in thousands) Variable Life, Variable Universal Life and Universal Life Contracts Separate account value $ 3,781,929 $ 3,301,084 General account value $ 9,169,757 $ 8,224,464 Net amount at risk $ 147,370,237 $ 144,225,578 Average attained age of contractholders 55 years 55 years (1) Balances are gross of reinsurance. (2) Excludes assumed reinsurance of GUL business from Prudential Insurance in connection with the acquisition of The Hartford Life Business that is retroceded 100% to PAR U.
Schedule of Fair Value of Separate Accounts by Major Category of Investment	Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows: December 31, 2019(1) December 31, 2018(1) (in thousands) Equity funds $ 67,526,437 $ 56,191,438 Bond funds 48,484,071 44,794,947 Money market funds 1,877,377 1,610,279 Total $ 117,887,885 $ 102,596,664 (1) Balances are gross of reinsurance.
Schedule of Minimum Guaranteed Benefit Liabilities	The table below summarizes the changes in general account liabilities for guarantees. The liabilities for GMDB and GMIB are included in “Future policy benefits” and the related changes in the liabilities are included in “Policyholders' benefits”. GMAB, GMWB and GMIWB are accounted for as embedded derivatives and are recorded at fair value within “Future policy benefits”. Changes in the fair value of these derivatives, including changes in the Company’s own risk of non-performance, along with any fees attributed or payments made relating to the derivative, are recorded in “Realized investment gains (losses), net.” See Note 5 for additional information regarding the methodology used in determining the fair value of these embedded derivatives. The Company maintains a portfolio of derivative investments that serve as a partial hedge of the risks associated with these products, for which the changes in fair value are also recorded in "Realized investment gains (losses), net." This portfolio of derivative investments does not qualify for hedge accounting treatment under U.S. GAAP. Additionally, the Company externally reinsures the guaranteed benefit features associated with certain contracts. See Note 9 for further information regarding the external reinsurance arrangement. GMDB GMIB GMWB/GMIWB/ GMAB Total Variable Annuity Variable Life, Variable Universal Life & Universal Life Variable Annuity (in thousands) Balance at December 31, 2016 $ 387,993 $ 4,058,181 $ 27,038 $ 5,041,008 $ 9,514,220 Incurred guarantee benefits(1) 16,999 808,834 (8,653 ) 411,575 1,228,755 Paid guarantee benefits (25,942 ) (14,642 ) (1,377 ) 0 (41,961 ) Change in unrealized investment gains and losses 11,288 144,937 123 0 156,348 Balance at December 31, 2017 390,338 4,997,310 17,131 5,452,583 10,857,362 Incurred guarantee benefits(1) 71,467 717,444 1,889 136,256 927,056 Paid guarantee benefits (35,800 ) (76,944 ) (2,032 ) 0 (114,776 ) Change in unrealized investment gains and losses (14,437 ) (405,956 ) (178 ) 0 (420,571 ) Balance at December 31, 2018 411,568 5,231,854 16,810 5,588,839 11,249,071 Incurred guarantee benefits(1) 52,717 1,473,762 2,266 2,940,727 4,469,472 Paid guarantee benefits (25,992 ) (110,642 ) (2,209 ) 0 (138,843 ) Change in unrealized investment gains and losses 22,208 805,259 240 0 827,707 Balance at December 31, 2019 $ 460,501 $ 7,400,233 $ 17,107 $ 8,529,566 $ 16,407,407 (1) Incurred guarantee benefits include the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves. Also includes changes in the fair value of features considered to be derivatives.

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
Reinsurance Impact On Balance Sheet	Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows: 2019 2018 (in thousands) Reinsurance recoverables $ 40,710,159 $ 34,682,127 Policy loans (142,262 ) (130,502 ) Deferred policy acquisition costs (6,989,618 ) (7,267,847 ) Deferred sales inducements (515,968 ) (562,052 ) Other assets(1) 258,427 185,573 Policyholders’ account balances 4,934,544 5,004,112 Future policy benefits 4,209,817 3,376,048 Other liabilities(2) 884,641 621,856 (1) Includes $0.0 million and $0.1 million of unaffiliated activity as of December 31, 2019 and 2018 , respectively. (2) Includes $43.1 million and $27.2 million of unaffiliated activity as of December 31, 2019 and 2018 , respectively.
Reinsurance Table By Affiliate	The reinsurance recoverables by counterparty are broken out below: December 31, 2019 December 31, 2018 (in thousands) PAR U $ 12,380,683 $ 11,444,032 PALAC 11,635,405 8,828,190 PURC 4,692,769 4,127,455 PARCC 2,627,595 2,527,690 GUL Re 2,292,638 2,017,810 PAR Term 1,825,594 1,678,745 Prudential Insurance 1,764,512 1,226,917 Prudential of Taiwan 1,499,685 1,414,669 Term Re 1,506,366 1,259,141 DART 327,235 119,946 Unaffiliated 157,677 37,532 Total reinsurance recoverables $ 40,710,159 $ 34,682,127
Reinsurance Impact On Income Statement	Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2019 2018 2017 (in thousands) Premiums: Direct $ 1,882,584 $ 1,807,809 $ 1,720,896 Assumed(1) 206 230 194 Ceded(2) (1,854,246 ) (1,757,231 ) (1,666,384 ) Net premiums 28,544 50,808 54,706 Policy charges and fee income: Direct 3,725,113 3,248,574 3,459,134 Assumed 519,265 497,751 473,573 Ceded(3) (3,700,222 ) (3,212,998 ) (3,657,014 ) Net policy charges and fee income 544,156 533,327 275,693 Net investment income: Direct 398,762 330,058 356,291 Assumed 1,631 1,581 1,484 Ceded (6,596 ) (6,352 ) (5,365 ) Net investment income 393,797 325,287 352,410 Asset administration fees: Direct 355,118 346,727 340,461 Assumed 0 0 0 Ceded (339,062 ) (332,359 ) (322,868 ) Net asset administration fees 16,056 14,368 17,593 Other income: Direct 83,891 68,931 62,830 Assumed(4) (293 ) 96 390 Ceded (59 ) (55 ) (77 ) Amortization of reinsurance income 21 3,992 4,606 Net other income 83,560 72,964 67,749 Realized investment gains (losses), net: Direct (1,912,241 ) 769,114 478,117 Assumed 0 0 0 Ceded(5) 1,795,492 (936,392 ) (558,303 ) Realized investment gains (losses), net (116,749 ) (167,278 ) (80,186 ) Policyholders’ benefits (including change in reserves): Direct 3,352,159 2,647,574 2,436,537 Assumed(6) 885,542 599,589 584,909 Ceded(7) (4,084,627 ) (3,097,664 ) (3,039,862 ) Net policyholders’ benefits (including change in reserves) 153,074 149,499 (18,416 ) Interest credited to policyholders’ account balances: Direct 470,551 499,458 350,262 Assumed 135,355 141,307 135,123 Ceded (418,677 ) (468,772 ) (316,994 ) Net interest credited to policyholders’ account balances 187,229 171,993 168,391 Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization (1,772,111 ) (1,587,360 ) (1,302,020 ) (1) Includes $0.2 million of unaffiliated activity for each of the years ended December 31, 2019 , 2018 and 2017 . (2) Includes $(0.6) million , $(0.2) million and $0.0 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (3) Includes $(34) million , $(20) million and $(8) million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (4) Includes $(0.3) million , $0.1 million and $0.4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (5) Includes $44 million , $(34) million and $(20) million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (6) Includes $1.9 million , $0.0 million and $0.4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively. (7) Includes $(30) million , $(10) million and $4 million of unaffiliated activity for the years ended December 31, 2019 , 2018 and 2017 , respectively.
Gross And Net Life Insurance In Force	The gross and net amounts of life insurance face amount in force as of December 31, were as follows: 2019 2018 2017 (in thousands) Direct gross life insurance face amount in force $ 993,850,732 $ 936,489,617 $ 882,333,743 Assumed gross life insurance face amount in force 39,877,183 40,811,929 41,782,959 Reinsurance ceded (963,444,461 ) (901,709,295 ) (854,053,110 ) Net life insurance face amount in force $ 70,283,454 $ 75,592,251 $ 70,063,592

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following schedule discloses significant components of income tax expense (benefit) for each year presented: Year Ended December 31, 2019 2018 2017 (in thousands) Current tax expense (benefit): U.S. Federal $ 56,371 $ 36,739 $ (52,502 ) Total 56,371 36,739 (52,502 ) Deferred tax expense (benefit): U.S. Federal (115,503 ) (89,380 ) (104,326 ) Total (115,503 ) (89,380 ) (104,326 ) Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures (59,132 ) (52,641 ) (156,828 ) Income tax expense (benefit) on equity in earnings of operating joint ventures (1) (1,773 ) 648 0 Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss) 81,281 (55,174 ) 43,372 Additional paid-in capital 0 0 824 Total income tax expense (benefit) $ 20,376 $ (107,167 ) $ (112,632 )
Schedule of Effective Income Tax Rate Reconciliation	The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2019 and 2018 and 35% applicable for 2017, and the reported income tax expense (benefit) are provided in the following table: Year Ended December 31, 2019 2018 2017 (in thousands) Expected federal income tax expense $ 33,345 $ 12,136 $ 60,007 Non-taxable investment income (52,291 ) (49,845 ) (157,408 ) Tax credits (40,602 ) (40,272 ) (29,506 ) Domestic production activities deduction, net 0 0 (10,447 ) Changes in tax law 0 3,618 (20,165 ) Settlements with taxing authorities 0 20,984 0 Other 416 738 691 Reported income tax expense (benefit) $ (59,132 ) $ (52,641 ) $ (156,828 ) Effective tax rate (37.2 )% (91.1 )% (91.5 )%
Schedule of Deferred Tax Assets and Liabilities	As of December 31, 2019 2018 (in thousands) Deferred tax assets: Insurance reserves $ 427,843 $ 245,488 Net unrealized loss on securities 0 8,283 Employee benefits 7,141 0 Other 1,969 1,897 Deferred tax assets 436,953 255,668 Deferred tax liabilities: Deferred policy acquisition cost 67,431 55,030 Net unrealized gain on securities 83,801 0 Investments 142,028 95,294 Deferred tax liabilities 293,260 150,324 Net deferred tax asset (liability) $ 143,693 $ 105,344
Unrecognized Tax Benefits Reconciliation	The following table reconciles the total amount of unrecognized tax benefits at the beginning and end of the periods indicated. 2019 2018 2017 (in thousands) Balance at January 1, $ 0 $ 30,196 $ 9,488 Increases in unrecognized tax benefits-prior years 0 0 12,373 (Decreases) in unrecognized tax benefits-prior years 0 0 0 Increases in unrecognized tax benefits-current year 0 0 8,335 (Decreases) in unrecognized tax benefits-current year 0 0 0 Settlements with taxing authorities 0 (30,196 ) 0 Balance at December 31, $ 0 $ 0 $ 30,196 Unrecognized tax benefits that, if recognized, would favorably impact the effective rate $ 0 $ 0 $ 30,196

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Currency Translation Adjustment Net Unrealized Investment Gains (Losses)(1) Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, December 31, 2016 $ (402 ) $ 71,377 $ 70,975 Change in OCI before reclassifications 259 164,482 164,741 Amounts reclassified from AOCI 0 (26,998 ) (26,998 ) Income tax benefit (expense) (91 ) (43,281 ) (43,372 ) Balance, December 31, 2017 $ (234 ) $ 165,580 $ 165,346 Change in OCI before reclassifications (17,745 ) (257,432 ) (275,177 ) Amounts reclassified from AOCI 0 (2,549 ) (2,549 ) Income tax benefit (expense) 581 54,593 55,174 Cumulative effect of adoption of ASU 2016-01 0 (1,539 ) (1,539 ) Cumulative effect of adoption of ASU 2018-02 (50 ) 30,499 30,449 Balance, December 31, 2018 $ (17,448 ) $ (10,848 ) $ (28,296 ) Change in OCI before reclassifications 9,572 435,919 445,491 Amounts reclassified from AOCI 0 (54,472 ) (54,472 ) Income tax benefit (expense) (41 ) (81,240 ) (81,281 ) Balance, December 31, 2019 $ (7,917 ) $ 289,359 $ 281,442 (1) Includes cash flow hedges of $26 million , $22 million , and $(18) million as of December 31, 2019 , 2018 and 2017 , respectively.
Reclassification out of Accumulated Other Comprehensive Income (Loss)	Reclassifications out of Accumulated Other Comprehensive Income (Loss) Year Ended Year Ended Year Ended (in thousands) Amounts reclassified from AOCI (1)(2): Net unrealized investment gains (losses): Cash flow hedges—Currency/Interest rate(3) $ 7,734 $ 15,889 $ (1,103 ) Net unrealized investment gains (losses) on available-for-sale securities(4) 46,738 (13,340 ) 28,101 Total net unrealized investment gains (losses) 54,472 2,549 26,998 Total reclassifications for the period $ 54,472 $ 2,549 $ 26,998 (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 4 for additional information on cash flow hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs, future policy benefits and policyholders’ account balances.
Net Unrealized Investment Gains (Losses) AOCI Rollforward	The amounts for the periods indicated below, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities on which an OTTI loss has been recognized Net Unrealized Gains (Losses) on Investments Deferred Policy Acquisition Costs and Other Costs(2) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(3) Deferred Income Tax (Liability) Benefit Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses) (in thousands) Balance, December 31, 2016 $ 4,883 $ (912 ) $ 632 $ (1,643 ) $ 2,960 Net investment gains (losses) on investments arising during the period 375 0 0 (119 ) 256 Reclassification adjustment for (gains) losses included in net income (3,699 ) 0 0 1,171 (2,528 ) Reclassification adjustment for OTTI losses excluded from net income(1) 50 0 0 (16 ) 34 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 813 0 (289 ) 524 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (610 ) 214 (396 ) Balance, December 31, 2017 $ 1,609 $ (99 ) $ 22 $ (682 ) $ 850 Net investment gains (losses) on investments arising during the period (2,150 ) 0 0 451 (1,699 ) Reclassification adjustment for (gains) losses included in net income (20 ) 0 0 4 (16 ) Reclassification adjustment for OTTI losses excluded from net income(1) (128 ) 0 0 27 (101 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 (53 ) 0 11 (42 ) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 15 (3 ) 12 Balance, December 31, 2018 $ (689 ) $ (152 ) $ 37 $ (192 ) $ (996 ) Net investment gains (losses) on investments arising during the period 2,112 0 0 (450 ) 1,662 Reclassification adjustment for (gains) losses included in net income 210 0 0 (45 ) 165 Reclassification adjustment for OTTI losses excluded from net income(1) (65 ) 0 0 14 (51 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 316 0 (67 ) 249 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (355 ) 76 (279 ) Balance, December 31, 2019 $ 1,568 $ 164 $ (318 ) $ (664 ) $ 750 (1) Represents "transfers in" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses. (3) "Other liabilities" primarily includes reinsurance payables.
All Other Net Unrealized Investment Gains (Losses) in AOCI Rollforward	All Other Net Unrealized Investment Gains (Losses) in AOCI Net Unrealized Gains (Losses) on Investments(2) Deferred Policy Acquisition Costs and Other Costs(3) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(4) Deferred Income Tax (Liability) Benefit Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses) (in thousands) Balance, December 31, 2016 $ 107,549 $ (96,752 ) $ 94,291 $ (36,671 ) $ 68,417 Net investment gains (losses) on investments arising during the period 134,613 0 0 (42,628 ) 91,985 Reclassification adjustment for (gains) losses included in net income 30,697 0 0 (9,721 ) 20,976 Reclassification adjustment for OTTI losses excluded from net income(1) (50 ) 0 0 16 (34 ) Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 98,584 0 (35,060 ) 63,524 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (123,289 ) 43,151 (80,138 ) Balance, December 31, 2017 $ 272,809 $ 1,832 $ (28,998 ) $ (80,913 ) $ 164,730 Net investment gains (losses) on investments arising during the period (284,672 ) 0 0 59,778 (224,894 ) Reclassification adjustment for (gains) losses included in net income (2,529 ) 0 0 531 (1,998 ) Reclassification adjustment for OTTI losses excluded from net income(1) 128 0 0 (27 ) 101 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 (67,575 ) 0 14,190 (53,385 ) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 97,003 (20,369 ) 76,634 Cumulative effect of adoption of ASU 2016-01 (2,368 ) 0 0 829 (1,539 ) Cumulative effect of adoption of ASU 2018-02 0 0 0 30,499 30,499 Balance, December 31, 2018 $ (16,632 ) $ (65,743 ) $ 68,005 $ 4,518 $ (9,852 ) Net investment gains (losses) on investments arising during the period 494,861 0 0 (105,395 ) 389,466 Reclassification adjustment for (gains) losses included in net income (54,682 ) 0 0 11,646 (43,036 ) Reclassification adjustment for OTTI losses excluded from net income(1) 65 0 0 (14 ) 51 Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs 0 488,806 0 (104,105 ) 384,701 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities 0 0 (549,821 ) 117,100 (432,721 ) Balance, December 31, 2019 $ 423,612 $ 423,063 $ (481,816 ) $ (76,250 ) $ 288,609 (1) Represents "transfers out" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) Includes cash flow hedges. See Note 4 for information on cash flow hedges. (3) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses. (4)

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Affiliated Notes Receivable	Affiliated notes receivable included in “Receivables from parent and affiliates” at December 31, were as follows: Maturity Dates Interest Rates 2019 2018 (in thousands) U.S. dollar floating rate notes 2028 3.83% - 4.25 % $ 0 $ 6,502 U.S. dollar fixed rate notes 2020 - 2027 0.00% - 14.85 % 122,566 128,140 Total long-term notes receivable - affiliated(1) $ 122,566 $ 134,642 (1) All long-term notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances.
Affiliated Asset Transfers	The table below shows affiliated asset trades for the years ended December 31, 2019 and 2018 : Affiliate Date Transaction Security Type Fair Value Book Value APIC, Net of Tax Increase/ (Decrease) Realized Investment Gain/ (Loss) (in thousands) DART January 2018 Purchase Other Invested Assets $ 21,457 $ 21,457 $ 0 $ 0 PALAC April 2018 Purchase Fixed Maturities $ 64,313 $ 64,313 $ 0 $ 0 GUL Re May 2018 Purchase Fixed Maturities $ 87,486 $ 87,486 $ 0 $ 0 GUL Re May 2018 Purchase Fixed Maturities $ 37,921 $ 37,921 $ 0 $ 0 Prudential Realty Securities, Inc. November 2018 Purchase Commercial Mortgages $ 3,259 $ 3,425 $ 0 $ (167 ) Prudential Insurance February 2019 Sale Commercial Mortgages $ 4,995 $ 5,000 $ (4 ) $ 0 PALAC April 2019 Sale Equity Securities $ 14,525 $ 13,466 $ 0 $ 1,059 Term Re September 2019 Sale Fixed Maturities $ 9,178 $ 8,135 $ 0 $ 1,043 PURC September 2019 Sale Fixed Maturities $ 8,399 $ 7,455 $ 0 $ 944 PAR U September 2019 Sale Fixed Maturities $ 31,466 $ 28,146 $ 0 $ 3,320 Prudential Insurance September 2019 Sale Fixed Maturities $ 10,702 $ 9,254 $ 1,144 $ 0 PURC December 2019 Sale Equity Securities $ 7,767 $ 6,002 $ 0 $ 1,765 Par Term December 2019 Sale Fixed Maturities $ 27,330 $ 24,739 $ 0 $ 2,591 PURC December 2019 Sale Fixed Maturities $ 93,830 $ 75,586 $ 0 $ 18,244 PURC December 2019 Sale Fixed Maturities $ 78,884 $ 68,645 $ 0 $ 10,239 Prudential Insurance December 2019 Purchase Other Invested Assets $ 9,000 $ 9,000 $ 0 $ 0

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	The unaudited quarterly results of operations for the years ended December 31, 2019 and 2018 are summarized in the table below: Three months ended March 31 June 30 September 30 December 31 (in thousands) 2019 Total revenues $ 222,412 $ 233,359 $ 273,205 $ 220,388 Total benefits and expenses 150,798 219,237 234,568 185,977 Income (loss) from operations before income taxes and equity in earnings of operating joint venture 71,614 14,122 38,637 34,411 Net income (loss) $ 87,788 $ 48,435 $ 43,373 $ 37,403 2018 Total revenues $ 188,712 $ 248,288 $ 183,330 $ 209,146 Total benefits and expenses 179,469 224,981 166,760 200,479 Income (loss) from operations before income taxes and equity in earnings of operating joint venture 9,243 23,307 16,570 8,667 Net income (loss) $ 11,304 $ 36,226 $ 18,725 $ 42,383

Business and Basis of Present_2

Business and Basis of Presentation (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019subsidiary
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Number Of Subsidiaries | subsidiary			1
Interest credited to policyholder account balances
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Out of Period Adjustment	$ 13
Realized investment gains (losses), net
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Out of Period Adjustment	13
Income (loss) from operations before income taxes and equity in earnings of operating joint venture
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Out of Period Adjustment	$ (5)	$ 11

Significant Accounting Polici_4

Significant Accounting Policies and Pronouncements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	[1]	Jan. 01, 2018	Dec. 31, 2016
Accounting Policies [Abstract]
Commercial mortgage and other loans, Loan-to-value ratios (greater than)										100.00%
Commercial mortgage and other loans, Loan-to-value ratios (less than)										100.00%
Commercial mortgage and other loans, Debt service coverage ratios (less than)										1
Commercial mortgage and other loans, Debt service coverage ratios (greater than)										1
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,577,453				$ 1,612,435					$ 1,577,453	$ 1,612,435
Accumulated other comprehensive income (loss)	281,442				(28,296)					281,442	(28,296)
Pre-tax charge to income	34,411	$ 38,637	$ 14,122	$ 71,614	8,667	$ 16,570	$ 23,307	$ 9,243		$ 158,784	57,787	$ 171,450
Cumulative effect of adoption					(27)						(27)
Uncertain tax positions measurement percentage (greater than)										50.00%
Securities Loaned Transactions Collateral Fair Value of Domestic Securities										102.00%
Securities Loaned Transactions Collateral Fair Value of Foreign Securities										105.00%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Repurchase and Resale Agreements, Collateral, Percentage										95.00%
Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income (loss)	281,442				(28,296)					$ 281,442	(28,296)	165,346				$ 70,975
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	281,442				(28,296)					281,442	(28,296)	165,346				70,975
Cumulative effect of adoption															$ 30,400
Accumulated Other Comprehensive Income | ASU 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption					(1,539)						(1,539)				(1,539)
Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,577,453				$ 1,612,435					$ 1,577,453	$ 1,612,435	$ 1,526,310				$ 1,448,517
Cumulative effect of adoption													$ (1,981)		(30,400)
Retained earnings | ASU 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption															7,936
Restatement Adjustment | ASU 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings															7,900
Accumulated other comprehensive income (loss)															(1,500)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest															$ 6,400
Individual Life | Accounting for Certain Reinsurance Contracts
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-tax charge to income									$ (2,000)
[1]	Includes the impact from the adoption of ASUs 2017-08 and 2017-12. See Note 2.

Significant Accounting Polici_5

Significant Accounting Policies and Pronouncements (Impact of Change in Accounting for Certain Reinsurance Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in Accounting Estimate [Line Items]
Decrease in Policy charges and fee income										$ 544,156	$ 533,327	$ 275,693
Decrease in Policyholders' benefits										153,074	149,499	(18,416)
Increase in Amortization of deferred policy acquisition costs										113,318	135,826	95,007
Pre-tax charge to income	$ 34,411	$ 38,637	$ 14,122	$ 71,614	$ 8,667	$ 16,570	$ 23,307	$ 9,243		158,784	57,787	171,450
Other liabilities	1,390,876				1,093,143					1,390,876	1,093,143
Reinsurance recoverables	40,710,159				34,682,127					40,710,159	34,682,127
Policyholders’ account balances	22,878,823				22,059,692					22,878,823	22,059,692
Deferred policy acquisition costs	$ 1,855,698				$ 1,613,922					$ 1,855,698	$ 1,613,922	$ 1,376,211	$ 1,341,093
Individual Life | Accounting for Certain Reinsurance Contracts
Change in Accounting Estimate [Line Items]
Decrease in Policy charges and fee income									$ (236,000)
Decrease in Policyholders' benefits									253,000
Increase in Amortization of deferred policy acquisition costs									(19,000)
Pre-tax charge to income									(2,000)
Other liabilities									284,000
Reinsurance recoverables									247,000
Policyholders’ account balances									(48,000)
Deferred policy acquisition costs									(19,000)
Future policy benefits									$ (6,000)

Investments (Fixed Maturities S

Investments (Fixed Maturities Securities Excluding Investments Classified as Trading) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 5,283,266	$ 5,244,903
Fair Value	5,681,970	5,199,595
Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,283,266	5,244,903
Gross Unrealized Gains	422,547	96,757
Gross Unrealized Losses	23,843	142,065
Fair Value	5,681,970	5,199,595
Fixed Maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	83,622	75,049
Gross Unrealized Gains	2,846	2,427
Gross Unrealized Losses	0	6
Fair Value	86,468	77,470
Fixed Maturities | Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	458,152	609,955
Gross Unrealized Gains	39,675	15,154
Gross Unrealized Losses	0	2,351
Fair Value	497,827	622,758
Fixed Maturities | Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	196,034	208,009
Gross Unrealized Gains	26,793	2,137
Gross Unrealized Losses	1	8,199
Fair Value	222,826	201,947
Fixed Maturities | U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,914,503	1,739,860
Gross Unrealized Gains	229,071	46,166
Gross Unrealized Losses	2,247	54,401
Fair Value	2,141,327	1,731,625
Fixed Maturities | U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	886,281	890,748
Gross Unrealized Gains	44,497	11,181
Gross Unrealized Losses	1,006	18,591
Fair Value	929,772	883,338
Fixed Maturities | Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	256,843	270,428
Gross Unrealized Gains	22,158	3,746
Gross Unrealized Losses	385	12,151
Fair Value	278,616	262,023
Fixed Maturities | Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	939,603	857,604
Gross Unrealized Gains	38,426	9,797
Gross Unrealized Losses	19,551	40,022
Fair Value	958,478	827,379
Fixed Maturities | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	119,602	156,818
Gross Unrealized Gains	800	1,528
Gross Unrealized Losses	466	750
Fair Value	119,936	157,596
Fixed Maturities | Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	367,848	347,570
Gross Unrealized Gains	15,231	3,353
Gross Unrealized Losses	163	4,527
Fair Value	382,916	346,396
Fixed Maturities | Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	60,778	88,862
Gross Unrealized Gains	3,050	1,268
Gross Unrealized Losses	24	1,067
Fair Value	63,804	89,063
OTTI | Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	(138)	(299)
Net Unrealized Gains (Losses)	1,700	(400)
OTTI | Fixed Maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	(7)	(122)
OTTI | Fixed Maturities | Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	0	0
OTTI | Fixed Maturities | Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
OTTI in AOCI	$ (131)	$ (177)

Investments (Fair Value and Los

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - Fixed Maturities - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	$ 211,240	$ 1,996,758
Less than Twelve Months, Gross Unrealized Losses	3,131	81,764
Twelve Months or More Fair Value	293,974	947,390
Twelve Months or More, Gross Unrealized Losses	20,712	60,301
Total, Fair Value	505,214	2,944,148
Total, Gross Unrealized Losses	23,843	142,065
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	0	0
Less than Twelve Months, Gross Unrealized Losses	0	0
Twelve Months or More Fair Value	0	630
Twelve Months or More, Gross Unrealized Losses	0	6
Total, Fair Value	0	630
Total, Gross Unrealized Losses	0	6
Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	0	124,776
Less than Twelve Months, Gross Unrealized Losses	0	1,571
Twelve Months or More Fair Value	0	31,215
Twelve Months or More, Gross Unrealized Losses	0	780
Total, Fair Value	0	155,991
Total, Gross Unrealized Losses	0	2,351
Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	2,152	77,055
Less than Twelve Months, Gross Unrealized Losses	1	3,184
Twelve Months or More Fair Value	400	59,700
Twelve Months or More, Gross Unrealized Losses	0	5,015
Total, Fair Value	2,552	136,755
Total, Gross Unrealized Losses	1	8,199
U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	81,622	784,916
Less than Twelve Months, Gross Unrealized Losses	984	37,635
Twelve Months or More Fair Value	19,206	213,147
Twelve Months or More, Gross Unrealized Losses	1,263	16,766
Total, Fair Value	100,828	998,063
Total, Gross Unrealized Losses	2,247	54,401
U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	33,264	263,934
Less than Twelve Months, Gross Unrealized Losses	780	9,159
Twelve Months or More Fair Value	22,143	287,031
Twelve Months or More, Gross Unrealized Losses	226	9,432
Total, Fair Value	55,407	550,965
Total, Gross Unrealized Losses	1,006	18,591
Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	3,839	124,764
Less than Twelve Months, Gross Unrealized Losses	23	6,286
Twelve Months or More Fair Value	9,379	72,725
Twelve Months or More, Gross Unrealized Losses	362	5,865
Total, Fair Value	13,218	197,489
Total, Gross Unrealized Losses	385	12,151
Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	32,800	424,921
Less than Twelve Months, Gross Unrealized Losses	921	22,605
Twelve Months or More Fair Value	186,693	127,201
Twelve Months or More, Gross Unrealized Losses	18,630	17,417
Total, Fair Value	219,493	552,122
Total, Gross Unrealized Losses	19,551	40,022
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	32,361	112,527
Less than Twelve Months, Gross Unrealized Losses	243	650
Twelve Months or More Fair Value	55,461	6,523
Twelve Months or More, Gross Unrealized Losses	223	100
Total, Fair Value	87,822	119,050
Total, Gross Unrealized Losses	466	750
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	22,153	49,616
Less than Twelve Months, Gross Unrealized Losses	163	434
Twelve Months or More Fair Value	0	116,786
Twelve Months or More, Gross Unrealized Losses	0	4,093
Total, Fair Value	22,153	166,402
Total, Gross Unrealized Losses	163	4,527
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months Fair Value	3,049	34,249
Less than Twelve Months, Gross Unrealized Losses	16	240
Twelve Months or More Fair Value	692	32,432
Twelve Months or More, Gross Unrealized Losses	8	827
Total, Fair Value	3,741	66,681
Total, Gross Unrealized Losses	$ 24	$ 1,067

Investments (Amortized Cost and

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less	$ 139,614
Due after one year through five years	688,411
Due after five years through ten years	1,073,731
Due after ten years	2,833,282
Amortized Cost	5,283,266	$ 5,244,903
Fair Value
Due in one year or less	140,916
Due after one year through five years	697,057
Due after five years through ten years	1,115,368
Due after ten years	3,161,973
Fair Value	5,681,970	$ 5,199,595
Asset-backed securities
Amortized Cost
Debt Maturities, without single maturity date	119,602
Fair Value
Debt Maturities, without Single Maturity Date	119,936
Commercial mortgage-backed securities
Amortized Cost
Debt Maturities, without single maturity date	367,848
Fair Value
Debt Maturities, without Single Maturity Date	382,916
Residential mortgage-backed securities
Amortized Cost
Debt Maturities, without single maturity date	60,778
Fair Value
Debt Maturities, without Single Maturity Date	$ 63,804

Investments (Fixed Maturities_2

Investments (Fixed Maturities Securities Proceeds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Proceeds from maturities/prepayments	$ 948,693	$ 561,340	$ 1,062,236
Fixed Maturities | Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	633,787	234,617	569,151
Proceeds from maturities/prepayments	314,906	326,664	492,944
Gross investment gains from sales and maturities	59,557	1,370	44,458
Gross investment losses from sales and maturities	(3,785)	(11,000)	(9,956)
OTTI recognized in earnings	(9,034)	(3,710)	(7,379)
Non-cash related proceeds	$ 0	$ (100)	$ (100)

Investments (Credit Losses Reco

Investments (Credit Losses Recognized In Earnings on Fixed Maturity Securities Held by the Company) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments [Abstract]
Balance in OCI, beginning of period	$ 1,291	$ 4,374
New credit loss impairments	3,022	0
Increases due to the passage of time on previously recorded credit losses	32	539
Reductions for securities which matured, paid down, prepaid or were sold during the period	(679)	(2,000)
Reductions for securities impaired to fair value during the period	(3,040)	(1,136)
Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected	(152)	(486)
Balance in OCI, end of period	$ 474	$ 1,291

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Fixed maturities, available for sale	$ 5,681,970	$ 5,199,595
Securities sold under agreements to repurchase	0	0
Fair value of collateral	$ 0	$ 143,000
Commercial mortgage loans, Percentage	100.00%	100.00%
Assets Deposited With Governmental Authorities	$ 3,800	$ 3,700
Commercial mortgage and other loans, acquired	0	3,000
Commercial mortgage and other loans, sold	5,000	0
Fixed Maturities
Investment [Line Items]
Fixed maturities, available for sale	5,681,970	5,199,595
Gross Unrealized Losses	23,843	142,065
Gross unrealized losses of twelve months or more concentrated in various sectors	20,712	60,301
Fixed Maturities | NAIC High or Highest Quality Rating
Investment [Line Items]
Gross Unrealized Losses	16,000	121,300
Fixed Maturities | NAIC Other Than High or Highest Quality Rating
Investment [Line Items]
Gross Unrealized Losses	7,800	20,800
Fixed Maturities
Investment [Line Items]
Gross unrealized losses of twelve months or more concentrated in various sectors	20,700	60,300
Other Income (Loss) | Equity securities
Investment [Line Items]
Unrealized Gain (Loss) on Investments	(1,000)	$ (2,800)
Other Comprehensive Income (Loss) | Equity securities
Investment [Line Items]
Unrealized Gain (Loss) on Investments			$ 2,000
Carrying value of non-income producing assets
Investment [Line Items]
Fixed maturities, available for sale	$ 8,400
California
Investment [Line Items]
Commercial mortgage loans, Percentage	19.00%
Texas
Investment [Line Items]
Commercial mortgage loans, Percentage	14.00%
New York
Investment [Line Items]
Commercial mortgage loans, Percentage	7.00%
Europe
Investment [Line Items]
Commercial mortgage loans, Percentage	9.00%
Mexico
Investment [Line Items]
Commercial mortgage loans, Percentage	2.00%
Australia
Investment [Line Items]
Commercial mortgage loans, Percentage	2.00%

Investments (Commercial Mortgag

Investments (Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 1,241,653	$ 1,211,215
Commercial mortgage loans, Percentage	100.00%	100.00%
Allowance for Credit Losses	$ (1,768)	$ (2,065)
Financing Receivable, after Allowance for Credit Loss	1,239,885	1,209,150
Total Commercial mortgage and other loans		1,209,150
Apartments/Multi-Family
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 355,175	$ 362,811
Commercial mortgage loans, Percentage	28.60%	29.90%
Hospitality
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 31,449	$ 16,083
Commercial mortgage loans, Percentage	2.50%	1.30%
Industrial
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 299,803	$ 263,999
Commercial mortgage loans, Percentage	24.10%	21.80%
Office
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 205,498	$ 187,450
Commercial mortgage loans, Percentage	16.60%	15.50%
Other
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 136,841	$ 131,961
Commercial mortgage loans, Percentage	11.00%	10.90%
Retail
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 190,690	$ 193,473
Commercial mortgage loans, Percentage	15.40%	16.00%
Commercial mortgage loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 1,219,456	$ 1,155,777
Commercial mortgage loans, Percentage	98.20%	95.40%
Agricultural property loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 22,197	$ 55,438
Commercial mortgage loans, Percentage	1.80%	4.60%

Investments (Allowance for Cred

Investments (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	$ 2,065	$ 1,794	$ 1,558
Addition to (release of) allowance for credit losses	(297)	271	236
Charge-offs, net of recoveries	0	0	0
Total Ending Balance	1,768	2,065	1,794
Commercial mortgage loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	2,026	1,728	1,513
Addition to (release of) allowance for credit losses	(283)	298	215
Charge-offs, net of recoveries	0	0	0
Total Ending Balance	1,743	2,026	1,728
Agricultural Property Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	39	66	45
Addition to (release of) allowance for credit losses	(14)	(27)	21
Charge-offs, net of recoveries	0	0	0
Total Ending Balance	$ 25	$ 39	$ 66

Investments (Allowance for Cr_2

Investments (Allowance for Credit Losses and Recorded Investment in Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Credit Losses:
Individually evaluated for impairment	$ 0	$ 0
Collectively evaluated for impairment	1,768	2,065
Total ending balance	1,768	2,065	$ 1,794	$ 1,558
Recorded Investment:
Individually evaluated for impairment	0	816
Collectively evaluated for impairment	1,241,653	1,210,399
Total ending balance	1,241,653	1,211,215
Financial Asset Acquired with Credit Deterioration
Recorded Investment:
Financing Receivable Total	0	0
Commercial mortgage loans
Allowance for Credit Losses:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,743	2,026
Total ending balance	1,743	2,026	1,728	1,513
Recorded Investment:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,219,456	1,155,777
Total ending balance	1,219,456	1,155,777
Agricultural Property Loans
Allowance for Credit Losses:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	25	39
Total ending balance	25	39	$ 66	$ 45
Recorded Investment:
Individually evaluated for impairment	0	816
Collectively evaluated for impairment	22,197	54,622
Total ending balance	$ 22,197	$ 55,438

Investments (Credit Quality Ind

Investments (Credit Quality Indicators) (Details) - Commercial Mortgage and Agricultural Property Loans - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	$ 1,241,653	$ 1,211,215
0%-59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	696,847	709,358
60%-69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	367,627	340,111
70%-79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	176,954	133,517
80% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	225	28,229
≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	1,180,793	1,151,820
≥ 1.2X | 0%-59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	676,517	696,507
≥ 1.2X | 60%-69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	354,828	321,586
≥ 1.2X | 70%-79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	149,448	105,727
≥ 1.2X | 80% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	0	28,000
1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	58,948	59,315
1.0X to 1.2X | 0%-59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	18,418	12,771
1.0X to 1.2X | 60%-69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	12,799	18,525
1.0X to 1.2X | 70%-79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	27,506	27,790
1.0X to 1.2X | 80% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	225	229
Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	1,912	80
Less than 1.0X | 0%-59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	1,912	80
Less than 1.0X | 60%-69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	0	0
Less than 1.0X | 70%-79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	0	0
Less than 1.0X | 80% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	$ 0	$ 0

Investments Investments (Analys

Investments Investments (Analysis of Past Due Commercial Mortgage, Agricultural, and Other Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Current	$ 1,241,653	$ 1,211,215
Total Loans	1,241,653	1,211,215
Non-Accrual Status	0	0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Current	1,219,456	1,155,777
Total Loans	1,219,456	1,155,777
Non-Accrual Status	0	0
Commercial mortgage loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Commercial mortgage loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Commercial mortgage loans | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Agricultural Property Loans
Financing Receivable, Past Due [Line Items]
Current	22,197	55,438
Total Loans	22,197	55,438
Non-Accrual Status	0	0
Agricultural Property Loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Agricultural Property Loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Agricultural Property Loans | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Loans | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Accruing Interest	$ 0	$ 0

Investments (Other Invested Ass

Investments (Other Invested Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other Invested Assets [Line Items]
Other invested assets	$ 429,558	$ 377,429
LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	370,437	286,490
Company’s investment in separate accounts
Other Invested Assets [Line Items]
Other invested assets	46,573	40,126
Derivative Instruments
Other Invested Assets [Line Items]
Other invested assets	12,548	50,813
Equity Method | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	295,529	216,586
Equity Method | Private equity | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	189,095	149,164
Equity Method | Hedge funds | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	64,002	57,171
Equity Method | Real estate-related | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	42,432	10,251
Fair Value | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	74,908	69,904
Fair Value | Private equity | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	62,639	60,118
Fair Value | Hedge funds | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	562	762
Fair Value | Real estate-related | LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	$ 11,707	$ 9,024

Investments Investments (Equity

Investments Investments (Equity Method Investments, Statement of Financial Position) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments [Abstract]
Total assets	$ 26,017,399	$ 3,946,992
Total liabilities	164,080	65,903
Partners' capital	25,853,319	3,881,089
Total liabilities and partners’ capital	26,017,399	3,946,992
Total liabilities and partners’ capital included above	325,677	269,775
Equity in LP/LLC interests not included above	114,505	83,029
Carrying value	$ 440,182	$ 352,804

Investments Investments (Equi_2

Investments Investments (Equity Method Investments, Statement of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments [Abstract]
Total revenue	$ 819,904	$ 128,356	$ 319,414
Total expenses	(200,666)	(39,040)	(31,680)
Net earnings (losses)	619,238	89,316	287,734
Earnings in net earnings (losses) included above	24,971	(2,470)	12,439
Equity in net earnings (losses) of LP/LLC interests not included above	5,077	(1,452)	5,191
Total equity in net earnings (losses)	$ 30,048	$ (3,922)	$ 17,630

Investments (Net Investment Inc

Investments (Net Investment Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	$ 411,900	$ 343,452	$ 372,397
Less: investment expenses	(18,103)	(18,165)	(19,987)
Net investment income	393,797	325,287	352,410
Equity securities, at fair value
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	856	885	884
Commercial mortgage and other loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	57,886	49,577	52,127
Policy loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	68,485	66,305	63,884
Short-term investments and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	9,266	2,382	1,090
Other Invested Assets
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	38,577	2,256	23,518
Available-for-sale Securities | Fixed Maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	235,456	220,942	230,060
Trading | Fixed Maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross Investment Income	$ 1,374	$ 1,105	$ 834

Investments (Realized Investmen

Investments (Realized Investment Gains Losses Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	$ (116,749)	$ (167,278)	$ (80,186)
Fixed Maturities
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	46,738	(13,340)	27,123
Equity securities
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	0	0	(125)
Commercial mortgage and other loans
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	297	(271)	(337)
LPs/LLCs
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	(3,400)	849	(221)
Derivatives
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	(160,368)	(154,208)	(106,625)
Short-term investments and cash equivalents
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	$ (16)	$ (308)	$ (1)

Investments (Net Unrealized Gai

Investments (Net Unrealized Gains Losses on Investments by Asset Class) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ 425,180	$ (17,321)	$ 274,418
Fixed Maturities | Available-for-sale Securities | OTTI
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	1,568	(689)	1,609
Fixed Maturities | Available-for-sale Securities | All other
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	397,136	(44,619)	279,749
Equity securities | Available-for-sale Securities
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	0	0	2,368
Derivatives designated as cash flow hedges
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	26,126	22,122	(17,678)
Affiliated notes
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	4,715	810	4,782
Other Investments
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ (4,365)	$ 5,055	$ 3,588

Investments Investments (Repurc

Investments Investments (Repurchase Agreements and Securities Lending) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	$ 7,529	$ 11,063
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	7,529	11,063
Up 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	0
30 days or greater
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	0
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	8,169
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	8,169
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Up 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	0
U.S. public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	5,048	628
U.S. public corporate securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	5,048	628
U.S. public corporate securities | Up 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	0	0
Foreign public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	2,481	2,266
Foreign public corporate securities | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	2,481	2,266
Foreign public corporate securities | Up 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total Cash collateral for loaned securities	$ 0	$ 0

Investments (Securities Pledged

Investments (Securities Pledged) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	$ 7,292	$ 10,836
Total liabilities supported by pledged collateral	7,529	11,063
Fixed Maturities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	7,292	10,836
Cash collateral for loaned securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total liabilities supported by pledged collateral	$ 7,529	$ 11,063

Derivative Instruments (Gross N

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional	$ 4,200,893	$ 3,070,256
Gross Fair Value Assets	251,768	77,890
Gross Fair Value Liabilities	(97,802)	(26,862)
Future policy benefits
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	(8,530,000)	(5,589,000)
Policyholders' account balances
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	(962,000)	(13,000)
Reinsurance recoverables
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	8,540,000	5,600,000
Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	777,548	719,476
Gross Fair Value Assets	36,551	38,333
Gross Fair Value Liabilities	(12,521)	(16,638)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	3,423,345	2,350,780
Gross Fair Value Assets	215,217	39,557
Gross Fair Value Liabilities	(85,281)	(10,224)
Foreign Currency Swaps | Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	773,933	719,476
Gross Fair Value Assets	36,551	38,333
Gross Fair Value Liabilities	(12,471)	(16,638)
Foreign Currency Swaps | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	151,792	98,363
Gross Fair Value Assets	7,563	6,303
Gross Fair Value Liabilities	(1,892)	(2,109)
Interest Rate Swaps | Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	3,615	0
Gross Fair Value Assets	0	0
Gross Fair Value Liabilities	(50)	0
Interest Rate Swaps | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	569,925	246,925
Gross Fair Value Assets	33,256	15,665
Gross Fair Value Liabilities	(4,490)	(3,174)
Foreign Currency Forwards | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	21,580	23,043
Gross Fair Value Assets	0	277
Gross Fair Value Liabilities	(518)	(20)
Credit Default Swaps | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	0	756
Gross Fair Value Assets	0	0
Gross Fair Value Liabilities	0	(9)
Equity Options | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	2,680,048	1,981,693
Gross Fair Value Assets	174,398	17,312
Gross Fair Value Liabilities	$ (78,381)	$ (4,912)

Derivative Instruments (Offsett

Derivative Instruments (Offsetting Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Offsetting of Financial Assets, Derivatives
Gross Amounts of Recognized Financial Instruments	$ 251,765	$ 77,887
Gross Amounts Offset in the Consolidated Statement of Financial Position	(239,220)	(27,078)
Net Amounts Presented in the Consolidated Statement of Financial Position	12,545	50,809
Financial Instruments/Collateral	(12,545)	(7,307)
Net Amount	0	43,502
Securities purchased under agreements to resell
Gross Amounts of Recognized Financial Instruments	0	143,000
Gross Amounts Offset in the Consolidated Statement of Financial Position	0	0
Net Amounts Presented in the Consolidated Statement of Financial Position	0	143,000
Financial Instruments/Collateral	0	(143,000)
Net Amount	0	0
Total Assets
Gross Amounts of Recognized Financial Instruments	251,765	220,887
Gross Amounts Offset in the Consolidated Statement of Financial Position	(239,220)	(27,078)
Net Amounts Presented in the Consolidated Statement of Financial Position	12,545	193,809
Financial Instruments/Collateral	(12,545)	(150,307)
Net Amount	0	43,502
Offsetting of Financial Liabilities, Derivatives
Gross Amounts of Recognized Financial Instruments	97,802	26,862
Gross Amounts Offset in the Consolidated Statement of Financial Position	(97,802)	(26,862)
Net Amounts Presented in the Consolidated Statement of Financial Position	0	0
Financial Instruments/Collateral	0	0
Net Amount	0	0
Securities sold under agreements to repurchase
Gross Amounts of Recognized Financial Instruments	0	0
Gross Amounts Offset in the Consolidated Statement of Financial Position	0	0
Net Amounts Presented in the Consolidated Statement of Financial Position	0	0
Financial Instruments/Collateral	0	0
Net Amount	0	0
Total Liabilities
Gross Amounts of Recognized Financial Instruments	97,802	26,862
Gross Amounts Offset in the Consolidated Statement of Financial Position	(97,802)	(26,862)
Net Amounts Presented in the Consolidated Statement of Financial Position	0	0
Financial Instruments/Collateral	0	0
Net Amount	$ 0	$ 0

Derivative Instruments (Financi

Derivative Instruments (Financial Statement Classification and Impact of Derivatives Used in Qualifying and Non-qualifying Hedge Relationships) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (160,368)	$ (154,208)	$ (106,625)
Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	9,007	6,819	6,071
Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1,703)	10,110	(8,305)
AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	4,031	39,801	(58,609)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	425	(997)	1,061
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	9,007	6,819	6,071
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1,698)	10,066	(8,234)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	4,031	39,801	(58,609)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(160,793)	(153,211)	(107,686)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(5)	44	(71)
Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Interest Rate Swaps | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0
Interest Rate Swaps | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0
Interest Rate Swaps | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0
Interest Rate Swaps | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(50)
Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	18,609	(7,688)	(1,565)
Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Currency | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	20	1,475	(1,316)
Currency | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Currency | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Currency | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Currency/Interest Rate | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	425	(997)	1,061
Currency/Interest Rate | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	9,007	6,819	6,071
Currency/Interest Rate | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1,698)	10,066	(8,234)
Currency/Interest Rate | Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	4,081	39,801	(58,609)
Currency/Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	3,485	6,395	(8,306)
Currency/Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Currency/Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(5)	44	(71)
Currency/Interest Rate | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Credit | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1)	(2)	(46)
Credit | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Credit | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Credit | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Equity | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	74,068	(27,212)	30,466
Equity | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Equity | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Equity | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Embedded Derivatives | Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(256,974)	(126,179)	(126,919)
Embedded Derivatives | Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Embedded Derivatives | Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Embedded Derivatives | Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 0	$ 0	$ 0

Derivative Instruments (Current

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cumulative effect of adoption		$ (27)
Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Balance, beginning	$ 22,122	(17,678)	$ 40,931
Amount recorded in AOCI	11,765	55,689	(59,712)
Amount reclassified into current period earnings	(7,734)	(15,889)	1,103
Balance, ending	26,126	22,122	(17,678)
Interest Rate | Accumulated Gain (Loss), Net, Cash Flow Hedge
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount recorded in AOCI	(50)
Currency/Interest Rate | Accumulated Gain (Loss), Net, Cash Flow Hedge
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount recorded in AOCI	11,815	55,689	(59,712)
Amount reclassified into current period earnings	$ (7,734)	$ (15,889)	$ 1,103

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 8
Credit Derivative, Maximum Exposure, Undiscounted	0	$ 1
Credit Risk Derivatives, at Fair Value, Net Asset (Liability) (less than)	$ 0	$ 0

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	$ 5,681,970	$ 5,199,595
Fixed maturities, trading	59,964	41,627
Equity securities	10,494	36,922
Other invested assets	429,558	377,429
Reinsurance recoverables	40,710,159	34,682,127
Receivables from parent and affiliates	271,981	289,580
Separate account assets	138,387,772	119,077,916
TOTAL ASSETS	191,158,387	164,680,784
Payables to parent and affiliates	216,842	229,345
Total liabilities	188,143,360	161,947,553
Future policy benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability	8,530,000	5,589,000
Embedded Derivative, Fair Value of Embedded Derivative Gross Asset	611,000	633,000
Embedded Derivative, Fair Value of Embedded Derivative Gross Liability	9,141,000	6,222,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	5,681,970	5,199,595
Fixed maturities, trading	59,964	41,627
Equity securities	10,494	36,922
Short-term investments	0	0
Cash equivalents	547,642	216,946
Other invested assets	12,548	50,812
Reinsurance recoverables	8,539,671	5,600,008
Receivables from parent and affiliates	122,566	134,642
Subtotal excluding separate account assets	14,974,855	11,280,552
Separate account assets	133,625,669	114,947,872
TOTAL ASSETS	148,600,524	126,228,424
Future policy benefits	8,529,566	5,588,840
Policyholders’ account balances	962,351	13,015
Payables to parent and affiliates	0	0
Total liabilities	9,491,917	5,601,855
Asset Netting	(239,220)	(27,078)
Liability Netting	(97,802)	(26,862)
Netting	141,400	200
Fair Value, Measurements, Recurring | Other Invested Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Netting	(239,220)	(27,078)
Fair Value, Measurements, Recurring | Payables to parent and affiliates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Netting	(97,802)	(26,862)
Fair Value, Measurements, Recurring | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	86,468	77,470
Fair Value, Measurements, Recurring | Obligations of U.S. states and their political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	497,827	622,758
Fair Value, Measurements, Recurring | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	222,826	201,947
Fair Value, Measurements, Recurring | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,141,327	1,731,625
Fair Value, Measurements, Recurring | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	929,772	883,338
Fair Value, Measurements, Recurring | Foreign corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	278,616	262,023
Fair Value, Measurements, Recurring | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	958,478	827,379
Fair Value, Measurements, Recurring | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	119,936	157,596
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	382,916	346,396
Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	63,804	89,063
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fixed maturities, trading	0	0
Equity securities	131	131
Short-term investments	0	0
Cash equivalents	0	69,903
Other invested assets	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	0	0
Subtotal excluding separate account assets	131	70,034
Separate account assets	0	0
TOTAL ASSETS	131	70,034
Future policy benefits	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Obligations of U.S. states and their political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	5,591,052	5,106,635
Fixed maturities, trading	59,296	41,627
Equity securities	465	20,794
Short-term investments	0	0
Cash equivalents	547,642	147,043
Other invested assets	251,764	77,886
Reinsurance recoverables	0	0
Receivables from parent and affiliates	119,431	125,381
Subtotal excluding separate account assets	6,569,650	5,519,366
Separate account assets	133,625,669	114,947,872
TOTAL ASSETS	140,195,319	120,467,238
Future policy benefits	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	97,802	26,862
Total liabilities	97,802	26,862
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	47,797	47,654
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. states and their political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	497,827	622,758
Fair Value, Measurements, Recurring | Level 2 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	222,663	201,947
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,141,324	1,731,623
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	893,943	838,497
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	278,435	262,023
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	944,408	815,634
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	117,935	151,040
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	382,916	346,396
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	63,804	89,063
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	90,918	92,960
Fixed maturities, trading	668	0
Equity securities	9,898	15,997
Short-term investments	0	0
Cash equivalents	0	0
Other invested assets	4	4
Reinsurance recoverables	8,539,671	5,600,008
Receivables from parent and affiliates	3,135	9,261
Subtotal excluding separate account assets	8,644,294	5,718,230
Separate account assets	0	0
TOTAL ASSETS	8,644,294	5,718,230
Future policy benefits	8,529,566	5,588,840
Policyholders’ account balances	962,351	13,015
Payables to parent and affiliates	0	0
Total liabilities	9,491,917	5,601,855
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	38,671	29,816
Fair Value, Measurements, Recurring | Level 3 | Obligations of U.S. states and their political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	163	0
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	3	2
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	35,829	44,841
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	181	0
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	14,070	11,745
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,001	6,556
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Other Invested Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair valued investment valued at NAV per share	75,000	70,000
Separate Account Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair valued investment valued at NAV per share	$ 4,762,000	$ 4,130,000

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities (Quantitative Info for Level 3 Inputs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Quantiative Information [Line Items]
Corporate securities	$ 6,360	$ 31,824
Fair Value, Measurements, Recurring
Fair Value Quantiative Information [Line Items]
Future policy benefits	8,529,566	5,588,840
Policyholders’ account balances	$ 962,351	13,015
Level 3 | Minimum
Fair Value Quantiative Information [Line Items]
Fair Value Inputs, Policyholder Age	45 years
Level 3 | Minimum | Future policy benefits
Fair Value Quantiative Information [Line Items]
Mortality rate	0.00%
Level 3 | Maximum
Fair Value Quantiative Information [Line Items]
Fair Value Inputs, Policyholder Age	90 years
Level 3 | Fair Value, Measurements, Recurring
Fair Value Quantiative Information [Line Items]
Future policy benefits	$ 8,529,566	5,588,840
Policyholders’ account balances	$ 962,351	$ 13,015
Level 3 | Internal | Minimum | Discounted cash flow | Future policy benefits
Fair Value Quantiative Information [Line Items]
Lapse rate	1.00%	1.00%
Spread over LIBOR	0.10%	0.36%
Utilization rate	43.00%	50.00%
Withdrawal rate (greater than maximum range)	78.00%	78.00%
Mortality rate	0.00%	0.00%
Equity volatility curve	13.00%	18.00%
Level 3 | Internal | Minimum | Discounted cash flow | Policyholders' account balances
Fair Value Quantiative Information [Line Items]
Lapse rate	1.00%
Spread over LIBOR	0.10%
Mortality rate	0.00%
Equity volatility curve	10.00%
Level 3 | Internal | Minimum | Discounted cash flow | Corporate securities
Fair Value Quantiative Information [Line Items]
Discount rate	5.24%	7.00%
Level 3 | Internal | Minimum | Market comparables | Corporate securities
Fair Value Quantiative Information [Line Items]
EBITDA multiples	5.7
Level 3 | Internal | Minimum | Liquidation | Corporate securities
Fair Value Quantiative Information [Line Items]
Liquidation value		40.71%
Level 3 | Internal | Maximum | Discounted cash flow | Future policy benefits
Fair Value Quantiative Information [Line Items]
Lapse rate	18.00%	13.00%
Spread over LIBOR	1.23%	1.60%
Utilization rate	97.00%	97.00%
Withdrawal rate (greater than maximum range)	100.00%	100.00%
Mortality rate	15.00%	15.00%
Equity volatility curve	23.00%	22.00%
Level 3 | Internal | Maximum | Discounted cash flow | Policyholders' account balances
Fair Value Quantiative Information [Line Items]
Lapse rate	6.00%
Spread over LIBOR	1.23%
Mortality rate	24.00%
Equity volatility curve	23.00%
Level 3 | Internal | Maximum | Discounted cash flow | Corporate securities
Fair Value Quantiative Information [Line Items]
Discount rate	17.47%	20.00%
Level 3 | Internal | Maximum | Market comparables | Corporate securities
Fair Value Quantiative Information [Line Items]
EBITDA multiples	5.7
Level 3 | Internal | Maximum | Liquidation | Corporate securities
Fair Value Quantiative Information [Line Items]
Liquidation value		40.71%
Level 3 | Internal | Weighted Average | Discounted cash flow | Corporate securities
Fair Value Quantiative Information [Line Items]
Discount rate	8.25%	10.21%
Level 3 | Internal | Weighted Average | Market comparables | Corporate securities
Fair Value Quantiative Information [Line Items]
EBITDA multiples	5.7
Level 3 | Internal | Weighted Average | Liquidation | Corporate securities
Fair Value Quantiative Information [Line Items]
Liquidation value		40.71%
Level 3 | Internal | Fair Value, Measurements, Recurring | Future policy benefits
Fair Value Quantiative Information [Line Items]
Future policy benefits	$ 8,529,566	$ 5,588,840
Level 3 | Internal | Fair Value, Measurements, Recurring | Policyholders' account balances
Fair Value Quantiative Information [Line Items]
Policyholders’ account balances	962,351
Level 3 | Internal | Fair Value, Measurements, Recurring | Corporate securities
Fair Value Quantiative Information [Line Items]
Corporate securities	27,816	31,503
Level 3 | Internal | Fair Value, Measurements, Recurring | Reinsurance recoverables
Fair Value Quantiative Information [Line Items]
Reinsurance recoverables	$ 8,539,671	$ 5,600,008

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities (Changes in Level 3 Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	$ 15,997	$ 17,525
Purchases	0	0
Sales	(7,767)	(75)
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	9,898	15,997	$ 17,525
Total gains (losses) (realized/unrealized):
Included in earnings	1,668	(1,453)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1,534	(1,453)
Equity securities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	1,707
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Equity securities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	1,668	(1,453)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1,534	(1,453)	2,345
Equity securities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	(38)
Equity securities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Other Invested Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	4	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	18
Transfers out of Level 3	0	(9)
Fair Value, end of period	4	4	0
Total gains (losses) (realized/unrealized):
Included in earnings	0	(5)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(5)
Other Invested Assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	(5)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(5)	0
Other Invested Assets | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Other Invested Assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Other Invested Assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0	1,339
Purchases	1,388	11,106
Sales	0	(73)
Issuances	0	0
Settlements	(1,388)	(12,311)
Other	0	(14)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	0	0	1,339
Total gains (losses) (realized/unrealized):
Included in earnings	0	(47)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(19)
Short-term Investments | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	(47)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(19)	0
Short-term Investments | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Short-term Investments | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Short-term Investments | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Cash and cash equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0	0
Purchases	0	4,987
Sales	0	(465)
Issuances	0	0
Settlements	0	(4,266)
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	0	0	0
Total gains (losses) (realized/unrealized):
Included in earnings	0	(256)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Cash and cash equivalents | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	(256)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Cash and cash equivalents | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Cash and cash equivalents | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Cash and cash equivalents | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Reinsurance recoverables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	5,600,008	5,457,649
Purchases	1,003,300	924,384
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	8,539,671	5,600,008	5,457,649
Total gains (losses) (realized/unrealized):
Included in earnings	1,936,363	(782,025)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	2,142,421	(573,853)
Reinsurance recoverables | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	1,936,363	(782,025)	(158,623)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	2,142,421	(573,853)	(315,998)
Reinsurance recoverables | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Reinsurance recoverables | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Reinsurance recoverables | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Receivables from Parent and Affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	9,261	0
Purchases	0	9,719
Sales	0	0
Issuances	0	0
Settlements	(6,316)	(525)
Other	0	0
Transfers into Level 3	0	6,551
Transfers out of Level 3	0	(6,531)
Fair Value, end of period	3,135	9,261	0
Total gains (losses) (realized/unrealized):
Included in earnings	190	47
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Receivables from Parent and Affiliates | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Receivables from Parent and Affiliates | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Receivables from Parent and Affiliates | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	(20)	0
Receivables from Parent and Affiliates | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	190	67	0
Future policy benefits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(5,588,840)	(5,452,583)
Purchases	0	0
Sales	0	0
Issuances	(995,403)	(916,518)
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	(8,529,566)	(5,588,840)	(5,452,583)
Total gains (losses) (realized/unrealized):
Included in earnings	(1,945,323)	780,261
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(2,151,380)	572,088
Future policy benefits | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(1,945,323)	780,261	463,432
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(2,151,380)	572,088	313,532
Future policy benefits | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Future policy benefits | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Future policy benefits | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Policyholders' account balances
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(13,015)	(46,651)
Purchases	0	0
Sales	0	0
Issuances	(183,419)	0
Settlements	0	9,231
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	(962,351)	(13,015)	(46,651)
Total gains (losses) (realized/unrealized):
Included in earnings	(765,917)	24,405
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(759,661)	24,405
Policyholders' account balances | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(765,917)	24,405	(30,991)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(759,661)	24,405	(30,991)
Policyholders' account balances | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Policyholders' account balances | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Policyholders' account balances | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Available-for-sale | Fixed maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(8,198)	(1,600)	2,001
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(8,467)	(1,944)	(2,736)
Available-for-sale | Fixed maturities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Available-for-sale | Fixed maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	3,615	(6,015)	(1,588)
Available-for-sale | Fixed maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	680	418	270
Available-for-sale | Fixed maturities | US government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	29,816	19,204
Purchases	8,855	10,679
Sales	0	(67)
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	38,671	29,816	19,204
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Available-for-sale | Fixed maturities | Foreign government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	174
Transfers into Level 3	159	0
Transfers out of Level 3	0	(159)
Fair Value, end of period	163	0	0
Total gains (losses) (realized/unrealized):
Included in earnings	4	(15)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Available-for-sale | Fixed maturities | Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	56,588	75,421
Purchases	4,226	13,573
Sales	(81)	(215)
Issuances	0	0
Settlements	(18,884)	(39,459)
Other	0	15
Transfers into Level 3	13,463	18,877
Transfers out of Level 3	0	(4,982)
Fair Value, end of period	50,083	56,588	75,421
Total gains (losses) (realized/unrealized):
Included in earnings	(5,229)	(6,642)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(8,467)	(1,944)
Available-for-sale | Fixed maturities | Structured securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	6,556	111,028
Purchases	0	31,067
Sales	(130)	(10,844)
Issuances	0	0
Settlements	(6,336)	(10,216)
Other	0	0
Transfers into Level 3	77,660	13,513
Transfers out of Level 3	(77,071)	(127,452)
Fair Value, end of period	2,001	6,556	$ 111,028
Total gains (losses) (realized/unrealized):
Included in earnings	1,322	(540)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Trading | Fixed maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0
Purchases	0
Sales	0
Issuances	0
Settlements	0
Other	0
Transfers into Level 3	751
Transfers out of Level 3	0
Fair Value, end of period	668	$ 0
Total gains (losses) (realized/unrealized):
Included in earnings	(83)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(83)
Trading | Fixed maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Trading | Fixed maturities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	(83)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(83)
Trading | Fixed maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0
Trading | Fixed maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	$ 0

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets:
Policy loans	$ 1,314,064	$ 1,236,077
Cash and cash equivalents	563,199	416,840	$ 212,569	$ 96,157
Accrued investment income	89,448	88,278
Reinsurance recoverables	40,710,159	34,682,127
Receivables from parent and affiliates	271,981	289,580
Liabilities:
Cash collateral for loaned securities	7,529	11,063
Short-term debt	2,845	0
Fair Value
Assets:
Commercial mortgage and other loans	1,288,625	1,214,350
Policy loans	1,314,064	1,236,077
Cash and cash equivalents	15,557	199,894
Accrued investment income	89,448	88,278
Reinsurance recoverables	212,368	0
Receivables from parent and affiliates	149,415	154,938
Other assets	22,505	28,950
Total Assets	3,091,982	2,922,487
Liabilities:
Policyholder account balances - investment contracts	1,541,910	1,479,069
Cash collateral for loaned securities	7,529	11,063
Short-term debt	2,845	0
Payables to parent and affiliates	216,842	229,345
Other liabilities	387,109	372,997
Total liabilities	2,156,235	2,092,474
Carrying Amount
Assets:
Commercial mortgage and other loans	1,239,885	1,209,150
Policy loans	1,314,064	1,236,077
Cash and cash equivalents	15,557	199,894
Accrued investment income	89,448	88,278
Reinsurance recoverables	211,813	0
Receivables from parent and affiliates	149,415	154,938
Other assets	22,505	28,950
Total Assets	3,042,687	2,917,287
Liabilities:
Policyholder account balances - investment contracts	1,541,355	1,486,929
Cash collateral for loaned securities	7,529	11,063
Short-term debt	2,845	0
Payables to parent and affiliates	216,842	229,345
Other liabilities	387,109	372,997
Total liabilities	2,155,680	2,100,334
Level 1 | Fair Value
Assets:
Commercial mortgage and other loans	0	0
Policy loans	0	0
Cash and cash equivalents	15,557	56,894
Accrued investment income	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	0	0
Other assets	0	0
Total Assets	15,557	56,894
Liabilities:
Policyholder account balances - investment contracts	0	0
Cash collateral for loaned securities	0	0
Short-term debt	0	0
Payables to parent and affiliates	0	0
Other liabilities	0	0
Total liabilities	0	0
Level 2 | Fair Value
Assets:
Commercial mortgage and other loans	0	0
Policy loans	0	0
Cash and cash equivalents	0	143,000
Accrued investment income	89,448	88,278
Reinsurance recoverables	0	0
Receivables from parent and affiliates	149,415	154,938
Other assets	22,505	28,950
Total Assets	261,368	415,166
Liabilities:
Policyholder account balances - investment contracts	1,264,128	1,206,747
Cash collateral for loaned securities	7,529	11,063
Short-term debt	2,845	0
Payables to parent and affiliates	216,842	229,345
Other liabilities	387,109	372,997
Total liabilities	1,878,453	1,820,152
Level 3 | Fair Value
Assets:
Commercial mortgage and other loans	1,288,625	1,214,350
Policy loans	1,314,064	1,236,077
Cash and cash equivalents	0	0
Accrued investment income	0	0
Reinsurance recoverables	212,368	0
Receivables from parent and affiliates	0	0
Other assets	0	0
Total Assets	2,815,057	2,450,427
Liabilities:
Policyholder account balances - investment contracts	277,782	272,322
Cash collateral for loaned securities	0	0
Short-term debt	0	0
Payables to parent and affiliates	0	0
Other liabilities	0	0
Total liabilities	$ 277,782	$ 272,322

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 1,613,922	$ 1,376,211	$ 1,341,093
Capitalization of commissions, sales and issue expenses	451,773	346,885	278,892
Amortization-Impact of assumption and experience unlocking and true-ups	(34,619)	(54,772)	(16,140)
Amortization-All other	(78,699)	(81,054)	(78,867)
Change in unrealized investment gains and losses	(37,337)	26,652	(5,363)
Other	(59,342)	0	(143,404)
Balance, end of year	$ 1,855,698	$ 1,613,922	$ 1,376,211

Policyholders' Liabilities (Fut

Policyholders' Liabilities (Future Policy Benefits) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Liability for Future Policy Benefit, by Product Segment [Line Items]
Individual and group annuities and supplementary contracts	$ 677,266	$ 609,457
Other contract liabilities	8,565,341	5,626,920
Total future policy benefits	25,258,673	19,476,394
Domestic
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life insurance	14,522,350	11,831,419
Taiwan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life insurance	$ 1,493,716	$ 1,408,598

Policyholders' Liabilities (Nar

Policyholders' Liabilities (Narrative) (Details)	Dec. 31, 2019
Individual nonparticipating Life Insurance | Domestic | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	1.70%
Individual nonparticipating Life Insurance | Domestic | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	7.80%
Individual nonparticipating Life Insurance | Taiwan | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	6.20%
Individual nonparticipating Life Insurance | Taiwan | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	7.40%
Individual and Group Annuities and Supplementary Contracts
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Percentage of reserves based on interest rates in excess of 8%	0.40%
Individual and Group Annuities and Supplementary Contracts | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	0.00%
Individual and Group Annuities and Supplementary Contracts | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	14.80%
Other | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	1.90%
Liability for Policyholders' Account Balances, interest rate	0.50%
Other | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Future Policy Benefits, interest rate	3.30%
Liability for Policyholders' Account Balances, interest rate	8.00%
Interest-sensitive life contracts | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	1.90%
Interest-sensitive life contracts | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	4.60%
Individual annuities | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	0.00%
Individual annuities | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	6.30%
Guaranteed interest accounts | Minimum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	1.00%
Guaranteed interest accounts | Maximum
Liability for Future Policy Benefits and Policyholders' Account Balances, by Product Segment [Line Items]
Liability for Policyholders' Account Balances, interest rate	4.10%

Policyholders' Liabilities (Pol

Policyholders' Liabilities (Policyholders' Account Balances) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Liability for Policyholders' Account Balances, by Product Segment [Line Items]
Total policyholders’ account balances	$ 22,878,823	$ 22,059,692
Interest-sensitive life contracts
Liability for Policyholders' Account Balances, by Product Segment [Line Items]
Total policyholders’ account balances	17,793,669	17,167,713
Individual annuities
Liability for Policyholders' Account Balances, by Product Segment [Line Items]
Total policyholders’ account balances	3,613,971	3,444,327
Guaranteed interest accounts
Liability for Policyholders' Account Balances, by Product Segment [Line Items]
Total policyholders’ account balances	207,038	240,886
Other
Liability for Policyholders' Account Balances, by Product Segment [Line Items]
Total policyholders’ account balances	$ 1,264,145	$ 1,206,766

Certain Long-Duration Contrac_3

Certain Long-Duration Contracts with Guarantees (Variable Annuity, Variable Life, Variable Universal Life and Universal Life Contracts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Annuity Contracts | Return of net deposits | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 101,413,706	$ 87,412,536
Net amount at risk	$ 23,061	$ 656,027
Average attained age of contractholders	67 years	66 years
Annuity Contracts | Minimum return or contract value | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 20,008,013	$ 18,574,416
Net amount at risk	$ 1,423,229	$ 3,186,237
Average attained age of contractholders	70 years	70 years
Annuity Contracts | Minimum return or contract value | At Annuitization / Accumulation
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 111,734,329	$ 97,055,710
Net amount at risk	$ 2,214,835	$ 4,510,250
Average attained age of contractholders	68 years	67 years
Average period remaining until earliest expected annuitization	0 years	0 years
Variable Life, Variable Universal Life and Universal Life Contracts
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 3,781,929	$ 3,301,084
Variable Life, Variable Universal Life and Universal Life Contracts | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
General account value	9,169,757	8,224,464
Net amount at risk	$ 147,370,237	$ 144,225,578
Average attained age of contractholders	55 years	55 years

Certain Long-Duration Contrac_4

Certain Long-Duration Contracts With Guarantees (Separate Account Investment Options) (Details) - Annuity Contracts - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	$ 117,887,885	$ 102,596,664
Equity funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	67,526,437	56,191,438
Bond funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	48,484,071	44,794,947
Money market funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	$ 1,877,377	$ 1,610,279

Certain Long-Duration Contrac_5

Certain Long-Duration Contracts with Guarantees (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net Amount at Risk by Product and Guarantee [Line Items]
Deferred sales inducements	$ 0	$ 0
Annuity Contracts | Market Value Adjusted
Net Amount at Risk by Product and Guarantee [Line Items]
General Account Investment Option	$ 3,500,000	$ 3,400,000

Certain Long-Duration Contrac_6

Certain Long-Duration Contracts with Guarantees (Liabilities for Guarantee Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	$ 11,249,071	$ 10,857,362	$ 9,514,220
Incurred guarantee benefits	4,469,472	927,056	1,228,755
Paid guarantee benefits	(138,843)	(114,776)	(41,961)
Change in unrealized investment gains and losses	827,707	(420,571)	156,348
Ending balance	16,407,407	11,249,071	10,857,362
GMDB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	411,568	390,338	387,993
Incurred guarantee benefits	52,717	71,467	16,999
Paid guarantee benefits	(25,992)	(35,800)	(25,942)
Change in unrealized investment gains and losses	22,208	(14,437)	11,288
Ending balance	460,501	411,568	390,338
GMDB | Variable Life, Variable Universal Life & Universal Life
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	5,231,854	4,997,310	4,058,181
Incurred guarantee benefits	1,473,762	717,444	808,834
Paid guarantee benefits	(110,642)	(76,944)	(14,642)
Change in unrealized investment gains and losses	805,259	(405,956)	144,937
Ending balance	7,400,233	5,231,854	4,997,310
GMIB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	16,810	17,131	27,038
Incurred guarantee benefits	2,266	1,889	(8,653)
Paid guarantee benefits	(2,209)	(2,032)	(1,377)
Change in unrealized investment gains and losses	240	(178)	123
Ending balance	17,107	16,810	17,131
GMWB/GMIWB/ GMAB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	5,588,839	5,452,583	5,041,008
Incurred guarantee benefits	2,940,727	136,256	411,575
Paid guarantee benefits	0	0	0
Change in unrealized investment gains and losses	0	0	0
Ending balance	$ 8,529,566	$ 5,588,839	$ 5,452,583

Reinsurance (Balance Sheet Rein

Reinsurance (Balance Sheet Reinsurance Results) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 40,710,159	$ 34,682,127
Policy loans	(1,314,064)	(1,236,077)
Deferred policy acquisition costs	(1,855,698)	(1,613,922)	$ (1,376,211)	$ (1,341,093)
Deferred sales inducements	0	0
Other assets	441,543	365,219
Other liabilities	1,390,876	1,093,143
Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance recoverables	40,710,159	34,682,127
Policy loans	(142,262)	(130,502)
Deferred policy acquisition costs	(6,989,618)	(7,267,847)
Deferred sales inducements	(515,968)	(562,052)
Other assets	258,427	185,573
Policyholders’ account balances	4,934,544	5,004,112
Future policy benefits	4,209,817	3,376,048
Other liabilities	884,641	621,856
Unaffiliated
Effects of Reinsurance [Line Items]
Other assets	0	100
Other liabilities	$ 43,100	$ 27,200

Reinsurance (Reinsurance Recove

Reinsurance (Reinsurance Recoverable by Counterparty) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 40,710,159	$ 34,682,127
PAR U
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	12,380,683	11,444,032
PALAC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	11,635,405	8,828,190
PURC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	4,692,769	4,127,455
PARCC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,627,595	2,527,690
GUL Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,292,638	2,017,810
PAR Term
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,825,594	1,678,745
Prudential Insurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,764,512	1,226,917
Prudential of Taiwan
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,499,685	1,414,669
Term Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,506,366	1,259,141
DART
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	327,235	119,946
Unaffiliated
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 157,677	$ 37,532

Reinsurance (Income Statement R

Reinsurance (Income Statement Reinsurance Results) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Premiums:
Direct	$ 1,882,584	$ 1,807,809	$ 1,720,896
Assumed	206	230	194
Ceded	(1,854,246)	(1,757,231)	(1,666,384)
Net premiums	28,544	50,808	54,706
Policy charges and fee income:
Direct	3,725,113	3,248,574	3,459,134
Assumed	519,265	497,751	473,573
Ceded	(3,700,222)	(3,212,998)	(3,657,014)
Net policy charges and fee income	544,156	533,327	275,693
Net investment income:
Direct	398,762	330,058	356,291
Assumed	1,631	1,581	1,484
Ceded	(6,596)	(6,352)	(5,365)
Net investment income	393,797	325,287	352,410
Asset administration fees:
Direct	355,118	346,727	340,461
Assumed	0	0	0
Ceded	(339,062)	(332,359)	(322,868)
Net asset administration fees	16,056	14,368	17,593
Other income:
Direct	83,891	68,931	62,830
Assumed	(293)	96	390
Ceded	(59)	(55)	(77)
Amortization of reinsurance income	21	3,992	4,606
Net other income	83,560	72,964	67,749
Realized investment gains (losses), net:
Direct	(1,912,241)	769,114	478,117
Assumed	0	0	0
Ceded	1,795,492	(936,392)	(558,303)
Realized investment gains (losses), net	(116,749)	(167,278)	(80,186)
Policyholders’ benefits (including change in reserves):
Direct	3,352,159	2,647,574	2,436,537
Assumed	885,542	599,589	584,909
Ceded	(4,084,627)	(3,097,664)	(3,039,862)
Net policyholders’ benefits (including change in reserves)	153,074	149,499	(18,416)
Interest credited to policyholders’ account balances:
Direct	470,551	499,458	350,262
Assumed	135,355	141,307	135,123
Ceded	(418,677)	(468,772)	(316,994)
Net interest credited to policyholders’ account balances	187,229	171,993	168,391
Net reinsurance expense allowances, net of capitalization and amortization	(1,772,111)	(1,587,360)	(1,302,020)
Unaffiliated
Premiums:
Assumed	200	200	200
Ceded	(600)	(200)	0
Policy charges and fee income:
Ceded	(34,000)	(20,000)	(8,000)
Other income:
Assumed	(300)	100	400
Realized investment gains (losses), net:
Ceded	44,000	(34,000)	(20,000)
Policyholders’ benefits (including change in reserves):
Assumed	1,900	0	400
Ceded	$ (30,000)	$ (10,000)	$ 4,000

Reinsurance (Life Insurance In

Reinsurance (Life Insurance In Force) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Direct gross life insurance face amount in force	$ 993,850,732	$ 936,489,617	$ 882,333,743
Assumed gross life insurance face amount in force	39,877,183	40,811,929	41,782,959
Reinsurance ceded	(963,444,461)	(901,709,295)	(854,053,110)
Net life insurance face amount in force	$ 70,283,454	$ 75,592,251	$ 70,063,592

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) - USD ($) $ in Thousands

Jul. 01, 2019

Jan. 01, 2018

Jul. 01, 2017

Jun. 30, 2017

Jan. 01, 2017

Jan. 01, 2014

Jul. 01, 2012

Dec. 31, 2010

Dec. 31, 2009

Jan. 31, 2001

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2016

Dec. 31, 2013

Dec. 31, 2013

Effects of Reinsurance [Line Items]

Ceded Premiums

$ (1,854,246)

$ (1,757,231)

$ (1,666,384)

Affiliated Entity | PAR U

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

95.00%

70.00%

Affiliated Entity | PURC

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

95.00%

70.00%

Affiliated Entity | PARCC

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

100.00%

90.00%

Ceded Premiums

$ (476,000)

Ceded Expenses and Reserves

$ (409,000)

Affiliated Entity | GUL Re

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

30.00%

95.00%

Affiliated Entity | PAR Term

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

100.00%

95.00%

Ceded Premiums

$ (150,000)

Ceded Expenses and Reserves

$ (115,000)

Affiliated Entity | Prudential of Taiwan

Effects of Reinsurance [Line Items]

Related Party Transaction, Term

2 years

Affiliated Entity | Term Re

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

95.00%

Affiliated Entity | Prudential Insurance

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

100.00%

Affiliated Entity | DART

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

95.00%

Affiliated Entity | UPARC

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

27.00%

Reinsurance Retention Policy, Amount Retained

$ 1,000

Reinsurance Retention Policy, Uncollected Charges And Fees Risk, Percentage

30.00%

Reinsurance Retention Policy, Excess Retention, Percentage

30.00%

Affiliated Entity | Union Hamilton Reinsurance, Ltd. | Quote Share Reinsurance

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

50.00%

Reinsurance Retention Policy, Amount Retained

$ 3,200,000

Income Taxes (Components of Inc

Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current tax expense (benefit):
U.S. Federal	$ 56,371	$ 36,739	$ (52,502)
Total	56,371	36,739	(52,502)
Deferred tax expense (benefit):
U.S. Federal	(115,503)	(89,380)	(104,326)
Total	(115,503)	(89,380)	(104,326)
Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures	(59,132)	(52,641)	(156,828)
Income tax expense (benefit) on equity in earnings of operating joint ventures	(1,773)	648	0
Income tax expense (benefit) reported in equity related to:
Other comprehensive income (loss)	81,281	(55,174)	43,372
Additional paid-in capital	0	0	824
Total income tax expense (benefit)	$ 20,376	$ (107,167)	$ (112,632)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended			24 Months Ended
	Aug. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate		21.00%		35.00%
Effective tax rate		(37.20%)	(91.10%)	(91.50%)
Tax benefit from the reduction in net deferred tax liabilities	$ 5		$ 1	$ 20	$ 21
DRD constituting non-taxable investment income		$ 50	47	155
Non-taxable investment income		$ 52	50	157
Percent of income tax expense (benefit)		5.00%
Income (loss) from domestic operations		$ 159	$ 58	$ 170

Income Taxes (Reconciliation To

Income Taxes (Reconciliation To Effective Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%		35.00%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Expected federal income tax expense	$ 33,345	$ 12,136	$ 60,007
Non-taxable investment income	(52,291)	(49,845)	(157,408)
Tax credits	(40,602)	(40,272)	(29,506)
Domestic production activities deduction, net	0	0	(10,447)
Changes in tax law	0	3,618	(20,165)
Settlements with taxing authorities	0	20,984	0
Other	416	738	691
Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures	$ (59,132)	$ (52,641)	$ (156,828)
Effective tax rate	(37.20%)	(91.10%)	(91.50%)

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Insurance reserves	$ 427,843	$ 245,488
Net unrealized loss on securities	0	8,283
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits	7,141	0
Other	1,969	1,897
Deferred tax assets	436,953	255,668
Deferred tax liabilities:
Deferred policy acquisition cost	67,431	55,030
Net unrealized gain on securities	83,801	0
Investments	142,028	95,294
Deferred tax liabilities	293,260	150,324
Net deferred tax asset (liability)	$ 143,693	$ 105,344

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$ 0	$ 30,196	$ 9,488
Increases in unrecognized tax benefits-prior years	0	0	12,373
(Decreases) in unrecognized tax benefits-prior years	0	0	0
Increases in unrecognized tax benefits-current year	0	0	8,335
(Decreases) in unrecognized tax benefits-current year	0	0	0
Settlements with taxing authorities	0	(30,196)	0
Balance at December 31,	0	0	30,196
Unrecognized tax benefits that, if recognized, would favorably impact the effective rate	$ 0	$ 0	$ 30,196

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (28,296)
Income tax benefit (expense)	(81,281)	$ 55,174	$ (43,372)
Cumulative effect of adoption		(27)
Ending balance	281,442	(28,296)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(17,448)	(234)	(402)
Change in OCI before reclassifications	9,572	(17,745)	259
Amounts reclassified from AOCI	0	0	0
Income tax benefit (expense)	(41)	581	(91)
Ending balance	(7,917)	(17,448)	(234)
Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(10,848)	165,580	71,377
Change in OCI before reclassifications	435,919	(257,432)	164,482
Amounts reclassified from AOCI	(54,472)	(2,549)	(26,998)
Income tax benefit (expense)	(81,240)	54,593	(43,281)
Ending balance	289,359	(10,848)	165,580
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(28,296)	165,346	70,975
Change in OCI before reclassifications	445,491	(275,177)	164,741
Amounts reclassified from AOCI	(54,472)	(2,549)	(26,998)
Income tax benefit (expense)	(81,281)	55,174	(43,372)
Cumulative effect of adoption				$ 30,400
Ending balance	281,442	(28,296)	165,346
Cash flow hedges | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	22,000	(18,000)
Ending balance	$ 26,000	22,000	$ (18,000)
ASU 2016-01 | Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		0
ASU 2016-01 | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		(1,539)
ASU 2016-01 | Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		(1,539)		$ (1,539)
ASU 2018-02 | Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		(50)
ASU 2018-02 | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		30,499
ASU 2018-02 | Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption		$ 30,449

Equity (Reclassification out of

Equity (Reclassification out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	$ (54,472)	$ (2,549)	$ (26,998)
Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(54,472)	(2,549)	(26,998)
Amounts reclassified from AOCI | Total net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	54,472	2,549	(26,998)
Amounts reclassified from AOCI | Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	54,472	2,549	(26,998)
Amounts reclassified from AOCI | Net unrealized investment gains (losses) on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Unrealized Gain (Loss) on Investments	46,738	(13,340)	28,101
Amounts reclassified from AOCI | Currency/Interest Rate | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Unrealized Gain (Loss) on Investments	$ 7,734	$ 15,889	$ (1,103)

Equity (OTTI Net Unrealized Inv

Equity (OTTI Net Unrealized Investment Gains (Losses) in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (28,296)
Ending balance	281,442	$ (28,296)
Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(10,848)	165,580	$ 71,377
Ending balance	289,359	(10,848)	165,580
OTTI | Net Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(689)	1,609	4,883
Net investment gains (losses) on investments arising during the period	2,112	(2,150)	375
Reclassification adjustment for (gains) losses included in net income	210	(20)	(3,699)
Reclassification adjustment for OTTI losses excluded from net income	(65)	(128)	50
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	0	0	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	0	0	0
Ending balance	1,568	(689)	1,609
OTTI | Deferred Policy Acquisition Costs and Other Costs
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(152)	(99)	(912)
Net investment gains (losses) on investments arising during the period	0	0	0
Reclassification adjustment for (gains) losses included in net income	0	0	0
Reclassification adjustment for OTTI losses excluded from net income	0	0	0
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	316	(53)	813
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	0	0	0
Ending balance	164	(152)	(99)
OTTI | Future Policy Benefits and Policyholders' Account Balances
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	37	22	632
Net investment gains (losses) on investments arising during the period	0	0	0
Reclassification adjustment for (gains) losses included in net income	0	0	0
Reclassification adjustment for OTTI losses excluded from net income	0	0	0
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	0	0	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	(355)	15	(610)
Ending balance	(318)	37	22
OTTI | Deferred Income Tax (Liability) Benefit
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(192)	(682)	(1,643)
Net investment gains (losses) on investments arising during the period	(450)	451	(119)
Reclassification adjustment for (gains) losses included in net income	(45)	4	1,171
Reclassification adjustment for OTTI losses excluded from net income	14	27	(16)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	(67)	11	(289)
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	76	(3)	214
Ending balance	(664)	(192)	(682)
OTTI | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(996)	850	2,960
Net investment gains (losses) on investments arising during the period	1,662	(1,699)	256
Reclassification adjustment for (gains) losses included in net income	165	(16)	(2,528)
Reclassification adjustment for OTTI losses excluded from net income	(51)	(101)	34
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	249	(42)	524
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	(279)	12	(396)
Ending balance	$ 750	$ (996)	$ 850

Equity (All Other Net Unrealize

Equity (All Other Net Unrealized Investment Gains and Losses in AOCI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (28,296)
Cumulative effect of adoption		$ (27)
Ending balance	281,442	(28,296)
Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(10,848)	165,580	$ 71,377
Ending balance	289,359	(10,848)	165,580
ASU 2016-01 | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		(1,539)
ASU 2018-02 | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		30,499
All Other | Net Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16,632)	272,809	107,549
Net investment gains (losses) on investments arising during the period	494,861	(284,672)	134,613
Reclassification adjustment for (gains) losses included in net income	(54,682)	(2,529)	30,697
Reclassification adjustment for OTTI losses excluded from net income	65	128	(50)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	0	0	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	0	0	0
Ending balance	423,612	(16,632)	272,809
All Other | Deferred Policy Acquisition Costs and Other Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(65,743)	1,832	(96,752)
Net investment gains (losses) on investments arising during the period	0	0	0
Reclassification adjustment for (gains) losses included in net income	0	0	0
Reclassification adjustment for OTTI losses excluded from net income	0	0	0
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	488,806	(67,575)	98,584
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	0	0	0
Ending balance	423,063	(65,743)	1,832
All Other | Future Policy Benefits and Policyholders' Account Balances
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	68,005	(28,998)	94,291
Net investment gains (losses) on investments arising during the period	0	0	0
Reclassification adjustment for (gains) losses included in net income	0	0	0
Reclassification adjustment for OTTI losses excluded from net income	0	0	0
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	0	0	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	(549,821)	97,003	(123,289)
Ending balance	(481,816)	68,005	(28,998)
All Other | Deferred Income Tax (Liability) Benefit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,518	(80,913)	(36,671)
Net investment gains (losses) on investments arising during the period	(105,395)	59,778	(42,628)
Reclassification adjustment for (gains) losses included in net income	11,646	531	(9,721)
Reclassification adjustment for OTTI losses excluded from net income	(14)	(27)	16
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	(104,105)	14,190	(35,060)
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	117,100	(20,369)	43,151
Ending balance	(76,250)	4,518	(80,913)
All Other | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,852)	164,730	68,417
Net investment gains (losses) on investments arising during the period	389,466	(224,894)	91,985
Reclassification adjustment for (gains) losses included in net income	(43,036)	(1,998)	20,976
Reclassification adjustment for OTTI losses excluded from net income	51	101	(34)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs	384,701	(53,385)	63,524
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and other liabilities	(432,721)	76,634	(80,138)
Ending balance	$ 288,609	(9,852)	$ 164,730
All Other | ASU 2016-01 | Net Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		(2,368)
All Other | ASU 2016-01 | Deferred Policy Acquisition Costs and Other Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		0
All Other | ASU 2016-01 | Future Policy Benefits and Policyholders' Account Balances
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		0
All Other | ASU 2016-01 | Deferred Income Tax (Liability) Benefit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		829
All Other | ASU 2016-01 | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		(1,539)
All Other | ASU 2018-02 | Net Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		0
All Other | ASU 2018-02 | Deferred Policy Acquisition Costs and Other Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		0
All Other | ASU 2018-02 | Future Policy Benefits and Policyholders' Account Balances
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		0
All Other | ASU 2018-02 | Deferred Income Tax (Liability) Benefit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		30,499
All Other | ASU 2018-02 | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cumulative effect of adoption		$ 30,499

Statutory Net Income and Surp_2

Statutory Net Income and Surplus and Dividend Restrictions (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	$ 262	$ 192	$ (503)
Statutory Accounting Practices, Statutory Capital and Surplus Required	1,665	1,461
Statutory surplus capacity to pay divided without prior approval in 2020	21
Statutory dividend paid to Prudential Insurance	250	$ 0	$ 250
Extra-ordinary dividend
Statutory Accounting Practices [Line Items]
Statutory dividend paid to Prudential Insurance	$ 104
Pruco Life Insurance
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices Dividends And Distributions Surplus Restriction	10.00%
Surplus dividends paid
Statutory Accounting Practices [Line Items]
Statutory dividend paid to Prudential Insurance	$ 146

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	3 Months Ended					12 Months Ended
	Dec. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2019USD ($)policy	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Policy charges and fee income						$ 544,156,000	$ 533,327,000	$ 275,693,000
Net investment income						393,797,000	325,287,000	352,410,000
Debt outstanding	$ 2,845,000					2,845,000	0
Contributed Capital						0	0	148,500,000
Prudential Insurance
Related Party Transaction [Line Items]
Contributed Capital	6,000,000	$ 6,000,000		$ 149,000,000	$ 5,000,000
Dividend	250,000,000		$ 250,000,000				0
Prudential Insurance and Prudential FInancial
Related Party Transaction [Line Items]
Life Insurance, Corporate or Bank Owned, amount	4,339,000,000					4,339,000,000	3,631,000,000
Fees related to Life Insurance, Corporate or Bank Owned, amount						48,000,000	45,000,000	44,000,000
Maximum amount of mortality risk	3,500,000					3,500,000
Prudential Insurance
Related Party Transaction [Line Items]
Stock option program plan expense						1,000,000	1,000,000	1,000,000
Deferred compensation program expense						6,000,000	6,000,000	9,000,000
Pension plan expense						20,000,000	23,000,000	26,000,000
Welfare plan expense						$ 24,000,000	28,000,000	28,000,000
Defined contribution plan, employer matching contribution, percent (up to)						4.00%
Defined contribution plan, cost recognized						$ 9,000,000	10,000,000	10,000,000
Number of Corporate Owned Life Insurance policies sold | policy						5
Prudential Financial
Related Party Transaction [Line Items]
Company's share of corporate expenses						$ 116,000,000	69,000,000	66,000,000
Number of Corporate Owned Life Insurance policies sold | policy						1
Affiliated Entity
Related Party Transaction [Line Items]
Accrued interested receivable related to long-tern notes receivable	1,000,000					$ 1,000,000	1,000,000
Revenues related to long-term notes receivable						4,000,000	5,000,000	5,000,000
Line of credit facility, maximum borrowing capacity	2,200,000,000					2,200,000,000
Interest expense related to loans payable						2,300,000	700,000	800,000
Debt outstanding	2,800,000		$ 0			2,800,000	0	0
Affiliated Entity | PAD
Related Party Transaction [Line Items]
Policy charges and fee income						747,000,000	739,000,000	633,000,000
Affiliated Entity | ASTISI and Prudential Investments
Related Party Transaction [Line Items]
Revenue administrative sharing agreement						341,000,000	333,000,000	323,000,000
Affiliated Entity | Prudential Investments
Related Party Transaction [Line Items]
Revenue administrative sharing agreement						10,000,000	10,000,000	14,000,000
Affiliated Entity | PGIM
Related Party Transaction [Line Items]
Net investment income						14,000,000	13,000,000	14,000,000
Prudential Financial Joint Venture
Related Party Transaction [Line Items]
Other invested assets	$ 96,000,000					96,000,000	88,000,000
Net investment income						$ 9,000,000	$ 1,000,000	$ 8,000,000

Related Party Transactions (Aff

Related Party Transactions (Affiliated Notes Receivable) (Details) - Affiliated Entity - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Total long-term notes receivable - affiliated	$ 122,566	$ 134,642
U.S. dollar floating rate notes
Related Party Transaction [Line Items]
Total long-term notes receivable - affiliated	$ 0	6,502
U.S. dollar floating rate notes | Minimum
Related Party Transaction [Line Items]
Interest Rates	3.83%
U.S. dollar floating rate notes | Maximum
Related Party Transaction [Line Items]
Interest Rates	4.25%
U.S. Dollar fixed rate notes
Related Party Transaction [Line Items]
Total long-term notes receivable - affiliated	$ 122,566	$ 128,140
U.S. Dollar fixed rate notes | Minimum
Related Party Transaction [Line Items]
Interest Rates	0.00%
U.S. Dollar fixed rate notes | Maximum
Related Party Transaction [Line Items]
Interest Rates	14.85%

Related Party Transactions (A_2

Related Party Transactions (Affiliated Asset Transfers) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Realized investment gains (losses), net	$ (116,749)	$ (167,278)	$ (80,186)
Affiliated Entity | DART January 2018 Purchase
Related Party Transaction [Line Items]
Fair Value	21,457
Book Value	21,457
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | PALAC April 2018 Purchase
Related Party Transaction [Line Items]
Fair Value	64,313
Book Value	64,313
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | GULRe May 2018 Purchase
Related Party Transaction [Line Items]
Fair Value	87,486
Book Value	87,486
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | GULRe May 2018 Purchase
Related Party Transaction [Line Items]
Fair Value	37,921
Book Value	37,921
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Pru Realty Securities Inc Nov 2018 Purchase
Related Party Transaction [Line Items]
Fair Value	3,259
Book Value	3,425
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	(167)
Affiliated Entity | Prudential Insurance February 2019 Sale
Related Party Transaction [Line Items]
Fair Value	4,995
Book Value	5,000
APIC, Net of Tax Increase/ (Decrease)	(4)
Realized investment gains (losses), net	0
Affiliated Entity | PALAC April 2019 Sale
Related Party Transaction [Line Items]
Fair Value	14,525
Book Value	13,466
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	1,059
Affiliated Entity | Term Re September 2019 Sale
Related Party Transaction [Line Items]
Fair Value	9,178
Book Value	8,135
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	1,043
Affiliated Entity | PURC September 2019 Sale
Related Party Transaction [Line Items]
Fair Value	8,399
Book Value	7,455
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	944
Affiliated Entity | PARU September 2019 Sale
Related Party Transaction [Line Items]
Fair Value	31,466
Book Value	28,146
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	3,320
Affiliated Entity | Prudential Insurance September 2019 Sale
Related Party Transaction [Line Items]
Fair Value	10,702
Book Value	9,254
APIC, Net of Tax Increase/ (Decrease)	1,144
Realized investment gains (losses), net	0
Affiliated Entity | PURC December 2019 Sale
Related Party Transaction [Line Items]
Fair Value	7,767
Book Value	6,002
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	1,765
Affiliated Entity | PAR Term December 2019 Sale
Related Party Transaction [Line Items]
Fair Value	27,330
Book Value	24,739
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	2,591
Affiliated Entity | PURC December 2019 Sale
Related Party Transaction [Line Items]
Fair Value	93,830
Book Value	75,586
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	18,244
Affiliated Entity | PURC December 2019 Sale
Related Party Transaction [Line Items]
Fair Value	78,884
Book Value	68,645
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	10,239
Affiliated Entity | Prudential Insurance December 2019 Purchase
Related Party Transaction [Line Items]
Fair Value	9,000
Book Value	9,000
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	$ 0

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2017
Commitments and Contingent Liabilities [Line Items]
Litigation and regulatory matters loss contingency, range of possible loss, maximum (less than)		$ 100
Commitments | Commercial mortgage loans
Commitments and Contingent Liabilities [Line Items]
Total outstanding commercial mortgage loan commitments		26	$ 14
Commitments | Investments
Commitments and Contingent Liabilities [Line Items]
Commitments to purchase investment (excluding commercial mortgage loans)		$ 261	$ 257
Indonesia
Commitments and Contingent Liabilities [Line Items]
Joint Venture with CT Corp, Ownership Percentage				49.00%
Settled Litigation
Commitments and Contingent Liabilities [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 5
Disgorgement Ruling
Commitments and Contingent Liabilities [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 27.6

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Results of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Total revenues	$ 220,388	$ 273,205	$ 233,359	$ 222,412	$ 209,146	$ 183,330	$ 248,288	$ 188,712	$ 949,364	$ 829,476	$ 687,965
Total benefits and expenses	185,977	234,568	219,237	150,798	200,479	166,760	224,981	179,469	790,580	771,689	516,515
Income (loss) from operations before income taxes and equity in earnings of operating joint venture	34,411	38,637	14,122	71,614	8,667	16,570	23,307	9,243	158,784	57,787	171,450
Net income (loss)	$ 37,403	$ 43,373	$ 48,435	$ 87,788	$ 42,383	$ 18,725	$ 36,226	$ 11,304	$ 216,999	$ 108,638	$ 327,793

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments Other Than investments in Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Amortized Cost	$ 5,283,266	$ 5,244,903
Fair Value	5,681,970	5,199,595
Equity securities, at cost	6,360	31,824
Equity securities, at fair value	10,494	36,922
Fixed maturities, trading, amortized cost	59,995	44,759
Fixed maturities, trading	59,964	41,627
Commercial mortgage and other loans	1,239,885	1,209,150
Policy loans	1,314,064	1,236,077
Other invested assets	429,558	377,429
Total Investment at Cost	8,333,128
Total investment per Balance Sheet	8,735,935	8,100,800
Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	5,283,266	5,244,903
Fair Value	5,681,970	5,199,595
Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	6,360
Equity securities, at fair value	10,494
Available-for-sale Securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	5,283,266
Fair Value	5,681,970
Trading | Fixed Maturities
Schedule of Investments [Line Items]
Fixed maturities, trading, amortized cost	59,995
Fixed maturities, trading	59,964
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	83,622	75,049
Fair Value	86,468	77,470
Obligations of U.S. states and their political subdivisions | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	458,152	609,955
Fair Value	497,827	622,758
Foreign government bonds | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	196,034	208,009
Fair Value	222,826	201,947
Asset-backed securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	119,602	156,818
Fair Value	119,936	157,596
Residential mortgage-backed securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	60,778	88,862
Fair Value	63,804	89,063
Commercial mortgage-backed securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	367,848	347,570
Fair Value	382,916	$ 346,396
Public utilities | Available-for-sale Securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	737,155
Fair Value	810,229
All other corporate bonds | Available-for-sale Securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	3,257,754
Fair Value	3,495,397
Redeemable preferred stock | Available-for-sale Securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost	2,321
Fair Value	2,567
Other common stocks | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	1,008
Equity securities, at fair value	3,467
Mutual funds | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	376
Equity securities, at fair value	459
Perpetual preferred stocks | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	4,976
Equity securities, at fair value	$ 6,568

Uncategorized Items - prucoform

Label	Element	Value
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,981,000)	[1]
Accounting Standards Update 2016-01 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	6,397,000
Accounting Standard Update 2018-02 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Accounting Standard Update 2018-02 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	30,449,000
Accounting Standard Update 2018-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (30,449,000)
[1]	Includes the impact from the adoption of ASUs 2017-08 and 2017-12. See Note 2.