Transamerica Advisors Life Insurance 10-K 15 Apr 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015USD ($)shares
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	TRANSAMERICA ADVISORS LIFE INSURANCE CO
Entity Central Index Key	845,091
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding | shares	250,000
Entity Public Float | $	$ 0

BALANCE SHEETS

BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Investments
Fixed maturity available-for-sale securities, at estimated fair value (amortized cost: 2015 - $1,570,693; 2014 - $1,705,721)		$ 1,665,337	$ 1,867,913
Equity available-for-sale securities, at estimated fair value (cost: 2015 - $33,777; 2014 - $33,928)		34,667	35,958
Limited partnerships		63,489	64,518
Mortgage loans on real estate		92,914	66,667
Policy loans		661,466	681,071
Derivative assets		10,893	1,055
Total investments		2,528,766	2,717,182
Cash and cash equivalents		236,482	235,034
Accrued investment income		34,481	37,648
Deferred policy acquisition costs		37,500	41,127
Deferred sales inducements		8,517	9,351
Value of business acquired		259,493	268,079
Goodwill		2,800	2,800
Income tax asset		1,512	1,061
Reinsurance receivables - net		68
Affiliated short-term note receivable		25,000
Receivable for investments sold - net		777	807
Other assets		28,448	25,044
Recoverable of ceded GMIB embedded derivatives, at fair value		61,426	60,573
Separate Accounts assets		5,940,665	6,771,369
Total Assets		9,165,935	10,170,075
Policyholder liabilities and accruals
Policyholder account balances		1,154,871	1,207,763
Future policy benefits		518,911	485,832
Claims and claims settlement expenses		32,410	28,939
Total policyholder liabilities and accruals		1,706,192	1,722,534
Payables for collateral under securities loaned,reverse repurchase agreements and derivatives		194,537	265,880
Checks not yet presented for payment		9,918	13,576
Derivative liabilities		13,075	18,744
Income tax liability		2,086	6,170
Affiliated payables - net		2,875	5,491
Reinsurance payables - net			49
Other liabilities		5,086	4,260
Separate Accounts liabilities		5,940,665	6,771,369
Total Liabilities		7,874,434	8,808,073
Stockholder's Equity
Common stock ($10 par value; authorized 1,000,000 shares;issued and outstanding: 250,000 shares)		2,500	2,500
Additional paid-in capital		1,514,157	1,545,665
Accumulated other comprehensive income, net of taxes	[1]	56,591	109,242
Retained deficit		(281,747)	(295,405)
Total Stockholder's Equity		1,291,501	1,362,002
Total Liabilities and Stockholder's Equity		$ 9,165,935	$ 10,170,075
[1]	All amounts are net of tax.

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fixed maturity available-for-sale securities, amortized cost	$ 1,570,693	$ 1,705,721
Equity available-for-sale securities, cost	$ 33,777	$ 33,928
Common stock, par value	$ 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

STATEMENTS OF INCOME

STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Policy charge revenue	$ 166,746	$ 177,913	$ 177,037
Net investment income	112,184	116,938	121,133
Net realized investment gains (losses)
Other-than-temporary impairment losses on securities			(387)
Portion of other-than-temporary impairments previously recognized in other comprehensive income	(1,873)	(104)	(321)
Net other-than-temporary impairment losses on securities recognized in income	(1,873)	(104)	(708)
Net realized investment gains (losses), excluding other-than-temporary impairment losses on securities	3,563	2,732	(3,787)
Net realized investment gains (losses)	1,690	2,628	(4,495)
Net derivative losses	(37,457)	(76,153)	(259,900)
Total Revenues	243,163	221,326	33,775
Benefits and Expenses
Interest credited to policyholder liabilities	54,914	54,599	56,342
Policy benefits (net of reinsurance recoveries: 2015 - $2,321; 2014 - $4,403; 2013 - $10,562 )	105,246	77,877	46,872
Amortization (accretion) of deferred policy acquisition costs	3,783	(6,068)	12,941
Amortization of value of business acquired	22,364	10,840	4,770
Insurance expenses and taxes	47,916	45,121	50,786
Total Benefits and Expenses	234,223	182,369	171,711
Income (Loss) Before Taxes	8,940	38,957	(137,936)
Income Tax Expense (Benefit)	(4,718)	5,424	76,366
Net Income (Loss)	$ 13,658	$ 33,533	$ (214,302)

STATEMENTS OF INCOME (Parenthet

STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Policy benefits, reinsurance recoveries	$ 2,321	$ 4,403	$ 10,562

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Income (Loss)		$ 13,658	$ 33,533	$ (214,302)
Net unrealized gains (losses) on available-for-sale securities
Net unrealized holding gains (losses) arising during the period		(69,336)	72,391	(101,760)
Reclassification adjustment for (gains) losses included in net income (loss)		(484)	281	(23,204)
Total net unrealized gains (losses) on available-for-sale securities		(69,820)	72,672	(124,964)
Net unrealized gains (losses) on cash flow hedges
Net unrealized gains (losses) on cash flow hedges arising during the period		1,807	(278)	1,756
Reclassification adjustment for losses included in net income (loss)		99	761	57
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Total		1,906	483	1,813
Net unrealized other-than-temporary impairments on securities
Change in previously recognized unrealized other-than-temporary impairments		(741)	2,805	588
Reclassification adjustment for other-than-temporary impairments included in net income (loss)		1,873	104	356
Net unrealized other-than-temporary impairments on securities		1,132	2,909	944
Adjustments
Policyholder liabilities				12,912
Value of business acquired		14,131	(6,525)	20,392
Deferred income taxes				31,896
Other Comprehensive Income, Adjustments, Total		14,131	(6,525)	65,200
Total other comprehensive income (loss), net of taxes	[1]	(52,651)	69,539	(57,007)
Comprehensive Income (Loss)		$ (38,993)	$ 103,072	$ (271,309)
[1]	All amounts are net of tax.

STATEMENTS OF STOCKHOLDER'S EQU

STATEMENTS OF STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Total		Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Deficit
Balance at beginning of period at Dec. 31, 2012			$ 2,500	$ 1,366,636	$ 96,710	$ (14,636)
Net Income (Loss)	$ (214,302)					(214,302)
Total other comprehensive income (loss), net of taxes	(57,007)	[1]			(57,007)
Balance at end of period at Dec. 31, 2013	1,179,901		2,500	1,366,636	39,703	(228,938)
Capital contributions from AEGON USA, LLC				179,029
Net Income (Loss)	33,533					33,533
Total other comprehensive income (loss), net of taxes	69,539	[1]			69,539
Cash dividend paid to AEGON USA, LLC						(100,000)
Balance at end of period at Dec. 31, 2014	1,362,002		2,500	1,545,665	109,242	(295,405)
Capital contributions from AEGON USA, LLC				68,492
Net Income (Loss)	13,658					13,658
Total other comprehensive income (loss), net of taxes	(52,651)	[1]			(52,651)
Return of capital to AEGON USA, LLC				(100,000)
Balance at end of period at Dec. 31, 2015	$ 1,291,501		$ 2,500	$ 1,514,157	$ 56,591	$ (281,747)
[1]	All amounts are net of tax.

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)		$ 13,658	$ 33,533	$ (214,302)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by operating activities:
Change in deferred policy acquisition costs		3,627	(6,258)	12,519
Change in deferred sales inducements		834	(1,807)	2,460
Change in value of business acquired		22,364	10,840	4,770
Change in benefit reserves, net of change in ceded reinsurance recoverable		43,176	14,221	(20,714)
Change in income tax asset and liability, net		(4,535)	6,143	84,720
Change in claims and claims settlement expenses		3,471	651	(12,050)
Change in other operating assets and liabilities, net		(2,124)	4,269	(4,165)
Change in checks not yet presented for payment		(3,658)	5,496	1,539
Amortization of investments		3,046	1,836	2,697
Interest credited to policyholder liabilities		54,914	54,599	56,342
Net derivative losses		37,457	76,153	259,900
Net realized investment (gains) losses		(1,690)	(2,628)	4,495
Net cash and cash equivalents provided by operating activities		170,540	197,048	178,211
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of available-for-sale securities and mortgage loans		231,374	108,086	759,249
Maturities of available-for-sale securities and mortgage loans		351,597	273,144	285,378
Purchases of available-for-sale securities and mortgage loans		(475,044)	(476,897)	(917,337)
Sales of limited partnerships		252	962	1,351
Purchases of limited partnerships			(60,000)
Change in affiliated short-term note receivable		(25,000)
Cash received in connection with derivatives		76,494	18,828	76,288
Cash paid in connection with derivatives		(135,918)	(119,059)	(303,826)
Policy loans on insurance contracts, net		19,606	29,015	42,350
Net settlement on futures contracts		(3,030)	(7,819)	8,052
Other		778	(436)	153
Net cash and cash equivalents provided by (used in) investing activities		41,109	(234,176)	(48,342)
CASH FLOWS FROM FINANCING ACTIVITIES
Policyholder deposits		15,578	14,734	26,595
Policyholder withdrawals		(134,335)	(128,712)	(175,979)
Capital contributions from AEGON USA, LLC		68,492	179,029
Return of capital to AEGON USA, LLC		(100,000)
Change in payables for collateral under securities loaned, reverse repurchase agreements and derivatives		(59,936)	5,374	17,856
Dividend cash paid to AEGON USA, LLC			(100,000)
Net cash and cash equivalents used in financing activities		(210,201)	(29,575)	(131,528)
Net increase (decrease) in cash and cash equivalents	[1]	1,448	(66,703)	(1,659)
Cash and cash equivalents, beginning of year		235,034	301,737	303,396
Cash and cash equivalents, end of year		$ 236,482	$ 235,034	$ 301,737
[1]	Included in net increase (decrease) in cash and cash equivalents is interest paid (2015 - $15; 2014 - $5; 2013 - $ 4); and income taxes paid ( 2015 - $0; 2014 - $0; 2013 - $136)

STATEMENTS OF CASH FLOWS (Paren

STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest paid	$ 15	$ 5	$ 4
Income taxes paid	$ 0	$ 0	$ 136

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies Basis of Presentation Transamerica Advisors Life Insurance Company (“TALIC” or the “Company”) is a wholly owned subsidiary of Transamerica Corporation which is an indirect wholly owned subsidiary of AEGON N.V., a limited liability share company organized under Dutch law. The Company was formerly a wholly owned subsidiary of AEGON USA, LLC which merged into Transamerica Corporation effective December 31, 2015. AEGON N.V. and its subsidiaries and joint ventures have life insurance and pension operations in over twenty countries in Europe, the Americas, and Asia and are also active in savings and investment operations, accident and health insurance, general insurance and limited banking operations in a number of these countries. The Company is a life insurance company, who conducts its business primarily in the annuity markets and to a lesser extent in the life insurance markets of the financial services industry. The Company is domiciled in the State of Arkansas and is currently licensed to sell insurance and annuities in forty-nine states, the District of Columbia, the U.S. Virgin Islands and Guam. Currently, the Company is not issuing new life insurance, variable annuity and market value adjusted annuity products. In 2012, the Company began selling a fixed contingent annuity (also sometimes referred to as a contingent deferred annuity (“CDA”)) that includes a stand-alone living benefit (“SALB”). A SALB is essentially a guaranteed lifetime withdrawal benefit which exists independently and is applied to mutual funds and exchange traded funds. As of November 22, 2015, the Company no longer issues CDAs to new investors. Existing certificate owners of the CDA will not be affected and may continue to make subsequent contributions, as permitted by the terms of the CDA. Basis of Reporting The accompanying financial statements have been prepared in conformity with United States generally accepted accounting principles (“GAAP”). The Company also submits financial statements to insurance industry regulatory authorities, which are prepared on the basis of statutory accounting principles (“SAP”). The significant accounting policies and related judgments underlying the accompanying financial statements are summarized below. Income before taxes and net income for the year ended December 31, 2015 reflects a net increase of $3,400 reflecting prior period errors corrected during the year. These include three items that relate to the Company’s model validation initiatives: 1) a $3,700 correction relating to incorrect fee assumptions for revenue sharing, investment management, and fund facilitation fees for variable deferred annuity separate account funds reserve models; 2) a $300 correction relating to variable deferred annuity liabilities specifically implementation issues with Guaranteed Life Withdraw Benefits (“GLWB”) assumptions and incorrect inputs of a GLWB ratchet feature; and 3) an ($800) correction of an error identified in the implementation of the guaranteed minimum death benefit (“GMDB”) lapse assumption which applies to policies without Living Benefit Rider. In addition, a $200 correction was made to ceded reserves for the incorrect assumption that all treaties were monthly renewable term (MRT) when some treaties were actually yearly renewable term (YRT). Management has evaluated the errors and related corrections and concluded they were not material to any previously reported quarterly or annual financial statements or to the current year. Certain corrections have been made to prior period financial statements. In the Statements of Other Comprehensive Income, unrealized losses of $5,818 and $1,888 for the year ended December 31, 2014 and 2013, respectively, were reclassified from “Change in previously recognized unrealized other-than-temporary impairments” to “Net unrealized holding gains arising during the period”. On the Statements of Income, “Reinsurance premium ceded” of $5,384 and $8,559 for the years ended December 31, 2014 and 2013, respectively, have been reclassified to “Policy charge revenue”. In the Balance Sheets, Income taxes, net has been reclassified into new financial statement line items titled “Income tax asset” and “Income tax liability” for $1,061 and $6,170, respectively, at December 31, 2014. In the Balance Sheets, reinsurance on guaranteed minimum income benefit riders (“GMIB reinsurance”), has been reclassified from “Future policy benefits” into a new financial statement line items titled “Recoverable of ceded GMIB embedded derivatives, at fair value” for $60,573, at December 31, 2014. There was no effect on net income, total other comprehensive income or stockholder’s equity of the prior period. Management has evaluated the errors and related corrections and concluded that they were not material to any previously reported quarterly or annual financial statements. Accounting Estimates and Assumptions The preparation of financial statements in conformity to GAAP requires management to make estimates and assumptions affecting the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities. Those estimates are inherently subject to change and actual results could differ from those estimates. Included among the material (or potentially material) reported amounts and disclosures that require extensive use of estimates are: fair value of certain invested assets, asset valuation allowances, deferred policy acquisition costs, deferred sales inducements, value of business acquired, goodwill, policyholder liabilities, income taxes, and potential effects of unresolved litigated matters. Investments Fixed maturity and equity securities The Company’s investments consist principally of fixed maturity and equity securities that are classified as available-for-sale (“AFS”) which are reported at estimated fair value. The fair values of fixed maturity and equity securities are determined by management after taking into consideration several sources of data. When available, the Company uses quoted market prices in active markets to determine the fair value of its investments. The Company’s valuation policy utilizes a pricing hierarchy that dictates that publicly available prices are initially sought from indices and third-party pricing services. In the event that pricing is not available from these sources, those securities are submitted to brokers to obtain quotes. If broker quotes are not available, securities are priced using internal cash flow modeling techniques. These valuation methodologies commonly use reported trades, bids, offers, issuer spreads, benchmark yields, estimated prepayment speeds, and/or estimated cash flows. To understand the valuation methodologies used by third-party pricing services, the Company reviews and monitors their applicable methodology documents. Any changes to their methodologies are noted and reviewed for reasonableness. In addition, the Company performs periodic in-depth reviews of prices received from third-party pricing services. The objective for such reviews is to demonstrate that the Company can corroborate detailed information such as assumptions, inputs and methodologies used in pricing individual securities against documented pricing methodologies. Only third-party pricing services and brokers with a substantial presence in the market and with appropriate experience and expertise are used. Each month, the Company performs an analysis of the information obtained from third-party services and brokers to ensure that the information is reasonable and produces a reasonable estimate of fair value. The Company considers both qualitative and quantitative factors as part of this analysis, including but not limited to, recent transactional activity for similar fixed maturities, review of pricing statistics and trends, and consideration of recent relevant market events. Other controls and procedures over pricing received from indices, third-party pricing services, or brokers include validation checks such as exception reports that highlight significant price changes, stale prices or un-priced securities. Additionally, the Company performs back testing on a sample basis. Back testing involves selecting a sample of securities trades and comparing the prices in those transactions to prices used for financial reporting. Significant variances between the price used for financial reporting and the transaction price are investigated to explain the cause of the difference. The Company’s portfolio of private placement securities is valued using a matrix pricing methodology. The pricing methodology is obtained from a third party service and indicates current spreads for securities based on weighted average life, credit rating and industry sector. Monthly, the Company reviews the matrix to ensure the spreads are reasonable by comparing them to observed spreads for similar securities traded in the market. In order to account for the illiquid nature of these securities, illiquidity premiums are included in the valuation and are determined based upon the pricing of recent transactions in the private placement market, as well as by comparing the value of the privately offered security to a similar public security. The impact of the illiquidity premium to the overall valuation was 2% of the fair value at December 31, 2015 and 2014, respectively. For fixed maturity securities, premiums are amortized to the earlier of the call or maturity date, discounts are accreted to the maturity date, and interest income is accrued daily. For equity securities, dividends are recognized on the ex-dividend date. Investment transactions are recorded on the trade date. Realized gains and losses on the sale or maturity of investments are determined on the basis of specific identification. Changes in the fair value of fixed maturity and equity securities deemed to be AFS securities are reported as a component of accumulated other comprehensive income (loss), net of taxes on the Balance Sheets and are not reflected in the Statements of Income until a sale transaction occurs or when credit-related declines in estimated fair value are deemed other-than-temporary. Other-than-temporary impairments (“OTTI”) The Company regularly reviews each investment in its fixed maturity and equity AFS securities portfolio to evaluate the necessity of recording impairment losses for other-than-temporary declines in the fair value of investments. Management makes this determination through a series of discussions with the Company’s portfolio managers and credit analysts, and review of information obtained from external sources (i.e., company announcements, ratings agency announcements, or news wire releases). For fixed maturity AFS securities, the Company also considers whether it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The factors that may give rise to a potential OTTI include, but are not limited to, 1) certain credit-related events such as default of principal or interest payments by the issuer, 2) bankruptcy of issuer, 3) certain security restructurings, and iv) fair market value less than cost or amortized cost for an extended period of time. In the absence of a readily ascertainable market value, the estimated fair value on these securities represents management’s best estimate and is based on comparable securities and other assumptions as appropriate. Management bases this determination on the most recent information available. For equity securities, once management determines a decline in the value of an AFS security is other-than-temporary, the cost basis of the equity security is reduced to its fair value, with a corresponding charge to earnings. For fixed maturity AFS securities, an OTTI must be recognized in earnings when an entity either 1) has the intent to sell the debt security or 2) is more likely than not to be required to sell the debt security before its anticipated recovery. If the Company meets either of these criteria, the OTTI is recognized in earnings in an amount equal to the entire difference between the security’s amortized cost basis and its fair value at the balance sheet date. For fixed maturity AFS securities in unrealized loss positions that do not meet these criteria, the Company must analyze 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. If the net present value is less than the amortized cost of the investment, an OTTI is recorded. The OTTI is separated into two pieces: an amount representing the credit loss, where the present value of cash flows expected to be collected is less than the amortized cost basis of the security, and an amount related to all other factors (referred to as the non credit portion). The credit loss is recognized in earnings and the non credit loss is recognized in other comprehensive income (“OCI”), net of applicable taxes and value of business acquired. Management records subsequent changes in the estimated fair value (positive and negative) of fixed maturity AFS securities for which non credit OTTI was previously recognized in OCI in OCI-OTTI. Limited partnerships At December 31, 2015 and 2014, the Company had investments in two limited partnerships that were not publicly traded. Both partnerships are carried at estimated fair value determined for which one is derived from management’s review of the underlying financial statements that were prepared on a GAAP basis and the other from which management is able to determine that observable market inputs have been used. The valuation utilizing the underlying financial statements is on a one quarter lag. Mortgage Loans on Real Estate Mortgage loans on real estate are carried at unpaid principal balances adjusted for amortization of premiums and accretion of discounts and are net of valuation allowances and general reserves. The fair value of mortgage loans on real estate is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and/or similar remaining maturities. Interest income is accrued on the principal balance of the loan based on the loan’s contractual interest rate. Premiums and discounts are amortized using the effective yield method over the life of the loan. Interest income and amortization of premiums and discounts are reported in net investment income along with mortgage loan fees, which are recorded as they are incurred. Loans are considered impaired when it is probable that based upon current information and events, the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. When the Company determines that a loan is impaired, a valuation allowance is established for the excess carrying value of the loan over its estimated collateral value. Changing economic conditions impact the Company’s valuation of mortgage loans. Changing vacancies and rents are incorporated into the discounted cash flow analysis that the Company performs for monitored loans and may contribute to the establishment of (or an increase or decrease in) an allowance for losses. In addition, the Company continues to monitor the entire commercial mortgage loan portfolio to identify risk. Areas of emphasis are properties that have deteriorating credits or have experienced debt coverage reduction. Where warranted, the Company has established or increased loss reserves based upon this analysis. The Company does not accrue interest on loans ninety days past due. The Company also establishes a general reserve which is calculated by applying a percentage, based on risk rating and maturity, to the outstanding loan balance. Policy loans Policy loans on insurance contracts are stated at unpaid principal balances. Due to the collateralized nature of policy loans, the Company believes that the fair value of policy loans approximates book value. Policy loans are funds provided to policy holders in return for a claim on the policy. The funds provided are limited to the cash surrender value of the underlying policy. Policy loans have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Derivatives and Hedge Accounting Derivatives are primarily used by the Company to manage risk associated with interest rate or equity market risk or volatility. Freestanding derivatives are carried in the Balance Sheets at fair value. If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the fair value of the derivatives are reported in net derivative gains (losses) in the Statements of Income. To qualify for hedge accounting, the hedge relationship is designated and formally documented at inception, detailing the particular risk management objective and strategy for the hedge (which includes the item and risk that is being hedged), the derivative that is being used and how hedge effectiveness is being assessed. For hedge accounting purposes, a distinction is made between fair value hedges, cash flow hedges and hedges of a net investment in a foreign operation. Currently and during the periods covered by the accompanying financial statements, the Company only has had cash flow hedges. A cash flow hedge is the hedge of the exposure to variability of cash flows to be received or paid related to a recognized asset or liability. For derivatives that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of OCI and reclassified into the Statements of Income when the Company’s earnings are affected by the variability of the hedged item. Any hedge ineffectiveness is recognized as a component of net derivative gains (losses) in the Statements of Income. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and on deposit and short-term investments with original maturities of three months or less. Cash and cash equivalents are primarily valued at amortized cost, which approximates fair value. Checks Not Yet Presented for Payment The Company’s checks not yet presented for payment consists of checks written that have not yet cleared the Company’s bank accounts. The majority of the Company’s bank accounts are zero balance accounts that are funded at the time items clear against the account; therefore, the outstanding checks represent immediately payable liabilities. Because the recipients of these checks have generally not yet received payment, the Company classifies the outstanding checks as a liability. Checks not yet presented for payment are classified in the cash flows from operating activities section of the Company’s Statement of Cash Flows. Securities Lending Financial assets that are lent to a third party or that are transferred subject to a repurchase agreement at a fixed price are not derecognized as the Company retains substantially all the risks and rewards of asset ownership. The loaned securities are included in fixed maturity AFS securities in the Balance Sheets. A liability is recognized for cash collateral received, required initially at 102%, on which interest is accrued. If the fair value of the collateral is at any time less than 102% of the fair value of the loaned securities, the counterparty is mandated to deliver additional collateral, the fair value of which, together with the collateral already held in connection with the lending transaction, is at least equal to 102% of the fair value of the loaned securities. Reverse Repurchase Agreements The Company enters into dollar roll repurchase agreement transactions whereby the Company takes delivery of pools of mortgage-backed securities (“MBS”) and sells them to counterparty along with an agreement to repurchase substantially the same pools at some point in the future, typically one month later. These transactions are accounted for as collateralized borrowings, and the repurchase agreement liability is included in the balance sheets in payables for collateral under securities loaned, reverse repurchase agreements, and derivatives. There is a risk that the MBS pools will not be delivered by the counterparty upon the maturity of the repurchase agreement. However, this risk is considered to be very low as the U.S. MBS market is well-established, deep, and liquid for securities that the counterparty can utilize to source pools required to satisfy its obligation. Counterparties for MBS pools must pass internal credit underwriting standards prior to initiating repurchase agreement transactions. In addition, each month the value of the cash collateral is reset based on the change in the fair value of the MBS, thereby minimizing the amount of counterparty exposure. Value of Business Acquired (“VOBA”), Deferred Policy Acquisition Costs (“DAC”) and Deferred Sales Inducements (“DSI”) VOBA VOBA reflects the estimated fair value of in force contracts acquired and represents the portion of the purchase price that is allocated to the value of the right to receive future cash flows from the insurance and annuity contracts in force at the acquisition date. VOBA is based on actuarially determined projections, for each block of business, of future policy and contract charges, premiums, mortality, policyholder behavior, Separate Account performance, operating expenses, investment returns, and other factors. Actual experience on the purchased business may vary from these projections. If estimated gross profits or premiums differ from expectations, the amortization of VOBA is adjusted to reflect actual experience. The long-term growth rate assumption for the amortization of VOBA was 8% at December 31, 2015 and 2014. For acquired annuity and variable life insurance contracts, VOBA is amortized in proportion to estimated gross profits arising principally from investment margins, mortality and expense margins, rider margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. Revisions in estimates result in changes to the amounts amortized in the reporting period in which the revisions are made and could result in the impairment of the asset and a charge to income if estimated future gross profits are less than the unamortized balance. See Note 4 to the financial statements for further discussion. DAC The costs of acquiring business, principally commissions, certain expenses related to policy issuance, and certain variable sales expenses that relate to and vary with the production of new and renewal business are deferred and amortized based on the estimated future gross profits for the group of acquired contracts. DAC are subject to recoverability testing at the time of the policy issuance and loss recognition testing at the end of each reporting period. DAC for variable annuities is amortized with interest over the anticipated lives of the insurance contracts in relation to the present values of estimated future gross profits from asset-based fees, guaranteed benefit rider fees, contract fees, and surrender charges, less a provision for guaranteed death and living benefit expenses, policy maintenance expenses, and non-capitalized commissions. The long-term equity growth rate assumption for the amortization of DAC was 8% at December 31, 2015 and 2014. Future gross profit estimates are subject to periodic evaluation with necessary revisions applied against amortization to date. The impact of revisions and assumptions to estimates on cumulative amortization is recorded as a charge or credit to current operations, commonly referred to as “unlocking”. Changes in assumptions can have a significant impact on the amount of DAC reported and the related amortization patterns. In general, increases in the estimated Separate Accounts return and decreases in surrender or mortality assumptions increase the expected future profitability of the underlying business and may lower the rate of DAC amortization. Conversely, decreases in the estimated Separate Accounts returns and increases in surrender or mortality assumptions reduce the expected future profitability of the underlying business and may increase the rate of DAC amortization. At December 31, 2015 and 2014, variable annuities accounted for the Company’s entire DAC asset. See Note 4 to the Financial Statements for further discussion. DSI The Company offers a sales inducement whereby the contract owner receives a bonus that increases the initial account balance by an amount equal to a specified percentage of the contract owner’s deposit. This amount may be subject to recapture under certain circumstances. Consistent with DAC, sales inducements for variable annuity contracts are deferred and amortized based on the estimated future gross profits for each group of contracts. The long-term equity growth rate assumption for the amortization of DSI was 8% at December 31, 2015 and 2014. These future gross profit estimates are subject to periodic evaluation by the Company, with necessary revisions applied against amortization to date. The impact of these revisions on cumulative amortization is recorded as a charge or credit to current operations, commonly referred to as “unlocking”. It is reasonably possible that estimates of future gross profits could be reduced in the future, resulting in a material reduction in the carrying amount of the DSI asset. The expense and the subsequent capitalization and amortization (accretion) are recorded as a component of policy benefits in the Statements of Income. At December 31, 2015 and 2014, variable annuities accounted for the Company’s entire DSI asset. See Note 4 to the Financial Statements for further discussion. Goodwill Goodwill is the excess of the purchase price over the estimated fair value of net assets acquired. Goodwill and intangible assets with indefinite lives are not amortized, but are subject to impairment tests conducted at least annually. Impairment testing is performed using the fair value approach, which requires the use of estimates and judgment, at the “reporting unit” level. A reporting unit represents the operating segment which is the level at which the financial information is prepared and regularly reviewed by management. The entire asset amount has been allocated to annuities. Goodwill is reviewed for indications of value impairment, with consideration given to financial performance and other relevant factors. In addition, certain events including a significant adverse change in legal factors or the business climate, an adverse action or assessment by a regulator, or unanticipated competition would cause the Company to review the carrying amounts of goodwill for impairment. When considered impaired, the carrying amounts are written down to fair value based primarily on discounted cash flows. The Company performed annual tests of goodwill at December 31, 2015, 2014, and 2013 and determined there was no impairment of goodwill because the fair value of the goodwill was substantially in excess of its carrying amount. Separate Accounts The Company’s Separate Accounts consist of variable annuities and variable life insurance contracts, of which the assets and liabilities are legally segregated and reported as separate captions in the Balance Sheets. Separate Accounts are established in conformity with Arkansas State Insurance Law and are generally not chargeable with liabilities that arise from any other business of the Company. Separate Accounts assets may be subject to claims of the Company only to the extent the value of such assets exceeds Separate Accounts liabilities. The assets of the Separate Accounts are carried at the daily net asset value of the mutual funds in which they invest. Absent any contract provision wherein the Company guarantees either a minimum return or account value upon death or annuitization, the net investment income and net realized and unrealized gains and losses attributable to Separate Accounts assets supporting variable annuities and variable life insurance contracts accrue directly to the contract owner and are not reported as revenue in the Statements of Income. Mortality, guaranteed benefit fees, policy administration, maintenance, and withdrawal charges associated with Separate Accounts products are included in policy charge revenue in the Statements of Income. Policyholder Account Balances The Company’s liability for policyholder account balances represents the contract value that has accrued to the benefit of the policyholder as of the Balance Sheet dates. The liability is generally equal to the accumulated account deposits plus interest credited less policyholders’ withdrawals and other charges assessed against the account balance. Interest-crediting rates for the Company’s fixed rate products are as follows: 2015 2014 Interest-sensitive life products 4.00% 4.00% Interest-sensitive deferred annuities 0.25% - 4.90% 0.25% - 4.90% These rates may be changed at the option of the Company after initial guaranteed rates expire, unless contracts are subject to minimum interest rate guarantees. Future Policy Benefits The Company’s liability for future policy benefits consists of liabilities for immediate annuities and liabilities for certain guaranteed benefits contained in the variable insurance products the Company manufactures. Liabilities for immediate annuities are equal to the present value of estimated future payments to or on behalf of policyholders, where the timing and amount of payment generally depends on policyholder mortality. Interest rates used in establishing such liabilities were in the range of 0.01% to 8.8% during 2015 and 2014. See Note 5 to the Financial Statements for further discussion. Revenue Recognition Revenues for variable annuity contracts consist of policy charges for i) mortality and expense risks, ii) certain guaranteed benefits selected by the contract owner, iii) administration fees, iv) annual contract maintenance charges, and v) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for variable annuity contracts are recognized when policy charges are assessed or earned. Revenues for variable life insurance contracts consist of policy charges for i) mortality and expense risks, ii) cost of insurance fees, iii) amortization of front-end and deferred sales charges, and iv) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for variable life insurance contracts are recognized when policy charges are assessed or earned. Revenues for interest-sensitive annuity contracts (market value adjusted annuities, immediate annuities, and single premium deferred annuities) and interest-sensitive life insurance contracts (single premium whole life insurance) consist of i) investment income, ii) gains (losses) on the sale of invested assets, and iii) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for interest-sensitive annuity and life insurance contracts are recognized when investment income and investment sales are earned while revenues for contract charges are recognized when assessed or earned. Revenues for CDAs consist of fees assessed based on a percentage of the participants covered asset pool, which are assets that are not internally managed by the Company. Fees on CDAs are recognized as they are assessed or earned. Claims and Claims Settlement Expenses Liabilities for claims and claims settlement expenses equal the death benefit (plus accrued interest) for claims that have been reported to the Company but have not settled and an estimate, based upon prior experience, for unreported claims. Income Taxes The Company provides for income taxes on all transactions that have been recognized in the financial statements in accordance with GAAP guidance . The Company is subject to taxes on premiums and is exempt from state income taxes in most states. Subsequent Events The financial statements are adjusted to reflect events that occurred between the balance sheet date and the date when the financial statements are issued, provided they give evidence of conditions that existed at the balance sheet date. No subsequent events have been iden

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments	Note 2. Fair Value of Financial Instruments Fair Value Measurements ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. Fair Value Hierarchy The Company has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Assets and liabilities recorded at fair value on the Balance Sheets are categorized as follows: Level 1 Level 2 a) Quoted prices for similar assets or liabilities in active markets b) Quoted prices for identical or similar assets or liabilities in non-active markets c) Inputs other than quoted market prices that are observable d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means Level 3 The Company recognizes transfers between levels at the beginning of the quarter. The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis: December 31, 2015 Level 1 Level 2 Level 3 Total Assets Fixed maturity available-for-sale (“AFS”) securities (a) Corporate securities $ - $ 1,016,792 $ - $ 1,016,792 Asset-backed securities - 115,988 6,666 122,654 Commercial mortgage-backed securities - 71,683 - 71,683 Residential mortgage-backed securities - 59,265 - 59,265 Municipals - 807 - 807 Government and government agencies United States 386,288 - - 386,288 Foreign 1,499 6,349 - 7,848 Total fixed maturity AFS securities (a) 387,787 1,270,884 6,666 1,665,337 Equity securities (a) Banking securities - 28,673 - 28,673 Industrial securities - 5,994 - 5,994 Total equity securities (a) - 34,667 - 34,667 Cash equivalents (b) - 234,500 - 234,500 Derivative assets (c) - 10,893 - 10,893 Limited partnerships (d) - 61,373 2,116 63,489 Recoverable of ceded GMIB embedded derivatives (e) - - 61,426 61,426 Separate Accounts assets (f) 5,940,665 - - 5,940,665 Total assets $ 6,328,452 $ 1,612,317 $ 70,208 $ 8,010,977 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 61,129 $ 61,129 Derivative liabilities (c) - 13,075 - 13,075 Total liabilities $ - $ 13,075 $ 61,129 $ 74,204 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Fixed maturity AFS securities (a) Corporate securities $ - $ 1,177,409 $ - $ 1,177,409 Asset-backed securities - 124,686 8,474 133,160 Commercial mortgage-backed securities - 100,801 - 100,801 Residential mortgage-backed securities - 45,447 - 45,447 Municipals - 800 - 800 Government and government agencies United States 400,251 - - 400,251 Foreign 3,564 6,481 - 10,045 Total fixed maturity AFS securities (a) 403,815 1,455,624 8,474 1,867,913 Equity securities (a) Banking securities - 29,702 - 29,702 Industrial securities - 6,256 - 6,256 Total equity securities (a) - 35,958 - 35,958 Cash equivalents (b) - 232,509 - 232,509 Derivative assets (c) - 1,055 - 1,055 Limited partnerships (d) - 60,432 4,086 64,518 Recoverable of ceded GMIB embedded derivatives (e) - - 60,573 60,573 Separate Accounts assets (f) 6,771,369 - - 6,771,369 Total assets $ 7,175,184 $ 1,785,578 $ 73,133 $ 9,033,895 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 61,206 $ 61,206 Derivative liabilities (c) - 18,744 - 18,744 Total liabilities $ - $ 18,744 $ 61,206 $ 79,950 (a) Securities are classified as Level 1 if the fair value is determined by observable inputs that reflect quoted prices for identical assets in active markets that the Company has the ability to access at the measurement date. Level 1 securities primarily include highly liquid U.S. Treasury and U.S. government agency securities. Securities are classified as Level 2 if the fair value is determined by observable inputs, other than quoted prices included in Level 1, for the asset or prices for similar assets. Securities are classified as Level 3 if the valuations are derived from techniques in which one or more of the significant inputs are unobservable. Level 3 consists principally of fixed maturity securities whose fair value is estimated based on non-binding broker quotes and internal models. These internal models primarily use projected cash flows discounted using relevant risk spreads and market interest rate curves. At December 31, 2015 there were no fixed maturity AFS securities valued using internal models. At December 31, 2014, less than 0.5% of fixed maturity AFS securities were valued using internal models. (b) Cash equivalents are primarily valued at amortized cost, which approximates fair value. Operating cash is not included in the above table. (c) Level 2 derivatives include interest rate swaps, inflation swaps, variance swaps, total return swaps, and credit default swaps for which the Company utilized readily accessible quoted index levels and broker quotes. The fair value of interest rate swaps is calculated based on the change in the underlying floating rate curve (LIBOR) at the reporting date, as compared to the fixed leg of the swap. The fair value for inflation swaps is calculated as the difference between the consumer price index (or related readily accessible quoted inflation index level) at the reporting date from the last reset date, multiplied by the notional value of the swap. The fair value for the variance swaps is calculated as the difference between the estimated volatility of the underlying Standard and Poor’s 500 Composite Stock Price Index (“S&P”) at maturity to the actual volatility of the underlying S&P index at initiation (i.e., strike) multiplied by the notional value of the swap. Total return swaps are valued based on the change in the underlying equity index as of the last reset date. Credit default swaps are valued using a discounted cash flow model where future premium payments and protection payments are corrected for the probability of default which is modeled using an arbitrage free credit spread model. (d) Limited partnership investments in which management is able to determine that observable market inputs have been used and can be redeemed at the net asset value in 90 days or less are considered Level 2. The Company has an investment in a limited partnership for which the fair value is derived from management’s review of the financial information obtained from the private equity fund prepared on a GAAP basis and is considered a Level 3 measurement. The valuation utilizing these financial statements is on a one quarter lag. (e) GMIB reinsurance is treated as embedded derivatives and is reported as recoverable of ceded GMIB embedded derivatives, at fair value in Balance Sheets. (f) Separate Accounts assets are carried at the net asset value provided by the fund managers. (g) The Company issued contracts containing guaranteed minimum withdrawal benefit riders (“GMWB”) and obtained GMIB reinsurance. GMWB and GMIB reinsurance are treated as embedded derivatives and are required to be reported separately from the host contract. In addition, the Company issues SALB contracts which are required to be reported at fair value. The fair value of these guarantees is calculated as the present value of future expected payments to policyholders less the present value of assessed fees attributable to the guarantees. Given the complexity and long-term nature of these guarantees, their fair values are determined using stochastic techniques under a variety of market return, discount rates and actuarial assumptions. Since many of the 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 of the fair value hierarchy. During 2015 and 2014, there were no transfers between level 1 and 2, respectively. The following table provides a summary of the change in fair value of the Company’s Level 3 assets at December 31, 2015 and 2014: Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Limited Fixed Securities Limited Partnership Fixed Maturity AFS Securities Balance at beginning of period (a) $ 4,086 $ 8,474 $ 5,044 $ 6,428 Change in unrealized losses (b) - (376 ) - (72 ) Purchases - 1,999 - - Sales (252 ) (126 ) (962 ) (30 ) Transfers into Level 3 - 2,049 - 3,744 Transfers out of Level 3 - (5,354 ) - (1,596 ) Changes in valuation (c) (1,718 ) - 4 - Balance at end of period (a) $ 2,116 $ 6,666 $ 4,086 $ 8,474 (a) Recorded as a component of limited partnerships and fixed maturity AFS in the Balance Sheets. (b) Recorded as a component of Other Comprehensive Income (Loss) in net unrealized holding gains (Losses) on AFS securities arising during the period. (c) Recorded as a component of net investment income in the Statements of Income. In certain circumstances, the Company will obtain non-binding quotes from brokers to assist in the determination of fair value. If those quotes can be corroborated by other market observable data, the investments will be classified as Level 2. If not, the investments are classified as Level 3 due to the unobservable nature of the brokers’ valuation processes. The decrease in Level 3 fixed maturity AFS securities at December 31, 2015 was due to two securities transferring from Level 3 to Level 2 due to the availability of market observable data. The decrease was partially offset by a purchase of a Level 3 security and the transfer of a security from Level 2 to Level 3 due to the unavailability of market observable data. The increase in Level 3 fixed maturity AFS securities at December 31, 2014 was due to a security transferring from Level 2 to Level 3 due to the unavailability of market observable data. The increase was partially offset by a security transferring from Level 3 to Level 2 due to the availability of market observable data. The Company’s Level 3 liabilities (assets) consist of provisions for GMWB, SALB and GMIB reinsurance. The fair value of these guarantees is calculated as the present value of future expected payments to policyholders less the present value of assessed fees attributable to the guarantees. Given the complexity and long-term nature of these guarantees which are unlike instruments available in financial markets, their fair values are determined using stochastic techniques under a variety of market return scenarios. A variety of factors are considered, including expected market rates of return, equity and interest rate volatility, credit spread, correlations of market returns, discount rates and actuarial assumptions. For GMWB and SALB, an increase (decrease) in credit spread in isolation would result in a lower (higher) fair value measurement and increases (decreases) in volatility in isolation would result in a higher (lower) fair value measurement. Changes in the Company’s credit spread and volatility assumption have an inverse reaction for GMIB reinsurance, due to this reserve being an asset. The expected returns are based on risk-free rates, such as the current London Inter-Bank Offered Rate (“LIBOR”) forward curve. The credit spread, which is the most significant unobservable input, is set by using the credit default swap (“CDS”) spreads of a reference portfolio of life insurance companies, adjusted to reflect the subordination of senior debt holders at the holding company level to the position of policyholders at the operating company level (who have priority in payments to other creditors). The credit spread was 40 basis points (“bps”) and 30 bps at December 31, 2015 and 2014, respectively. For equity volatility, the Company uses a term structure assumption with market-based implied volatility inputs for the first five years and a long-term forward rate assumption of 25% thereafter. The volume of observable option trading from which volatilities are derived generally declines as the contracts’ term increases, therefore, the volatility curve grades from implied volatilities for five years to the ultimate rate. The resulting volatility assumption in year 20 for the S&P (expressed as a spot rate) was 24.2% and 24.3% at December 31, 2015 and 2014, respectively. Correlations of market returns across underlying indices are based on historical market returns and their inter-relationships over a number of years preceding the valuation date. Assumptions regarding policyholder behavior, such as lapses, included in the models are derived in the same way as the assumptions used to measure insurance liabilities. These assumptions are reviewed at each valuation date and updated based on historical experience and observable market data as required. The following table provides a summary of the changes in fair value of the Company’s Level 3 liabilities (assets) at December 31, 2015 and 2014: Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 GMWB GMIB Reinsurance SALB GMWB GMIB Reinsurance SALB Balance at beginning of period (a) $ 60,702 $ (60,573 ) $ 504 $ 21,776 $ (39,345 ) $ 41 Changes in interest rates (b) (1,890 ) 979 - 30,760 (26,759 ) - Changes in equity markets (b) 9,182 (1,976 ) 7 762 2,330 463 Other (b) (7,376 ) 144 - 7,404 3,201 - Balance at end of period (a) $ 60,618 $ (61,426 ) $ 511 $ 60,702 $ (60,573 ) $ 504 (a) GMWB and SALB are recorded as a component of future policy benefits in the Balance Sheets and GMIB reinsurance is recorded as recoverable of ceded GMIB embeded derivatives, at fair value in the Balance Sheets. (b) Recorded as a component of policy benefits in the Statements of Income. During 2015, the change in the fair value of the GMWB and GMIB reinsurance guarantees was primarily driven by lower than expected equity market performance and updated policy holder behavior assumptions. During 2014, the change in the fair value GMWB and GMIB reinsurance guarantees was primarily driven by declining interest rates and updated policyholder behavior assumptions. During 2015 and 2014, the change in the SALB reserve was due to an increase in fees collected. The following table provides a summary of the quantitative inputs and assumptions of the Company’s Level 3 assets and liabilities at December 31, 2015 and 2014: Description December 31, Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities $ 6,666 Broker See comment below (a) See comment below (a) Total fixed maturity securities 6,666 Limited partnership 2,116 Not applicable (a) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 61,426 Discounted cash flows Own credit risk 40 bps Long-term volatility 25% Total assets $ 70,208 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 60,618 Discounted cash flows Own credit risk 40 bps Long-term volatility 25% Future policy benefits - SALB 511 See comment below (b) See comment below (b) See comment below (b) Total liabilities $ 61,129 Description December 31, Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities $ 8,474 Broker See comment below (a) See comment below (a) Total fixed maturity securities 8,474 Limited partnership 4,086 Not applicable (b) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 60,573 Discounted cash flows Own credit risk 30 bps Long-term volatility 25% Total assets $ 73,133 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 60,702 Discounted cash flows Own credit risk 30 bps Long-term volatility 25% Future policy benefits - SALB 504 See comment below (c) See comment below (c) See comment below (c) Total liabilities $ 61,206 (a) The Company has obtained non-binding broker quotes that cannot be corroborated by market observable data, to assist in determining fair value of the level 3 asset-back securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and an asset specialist review of the broker price. (b) The Company has an investment in a limited partnership for which the fair value is derived from management’s review of the underlying financial statements that were prepared on a GAAP basis. Management did not make any adjustments to the valuation from the underlying financial statements. As a result, inputs are not developed by management to determine the fair value measurement for this investment. (c) The SALB is a product with fewer than 150 policies. Due to the small size of this block the liability was determined based on fees earned. The following table provides the estimated fair value of the Company’s assets not carried at fair value on the Balance Sheets at December 31, 2015 and 2014: December 31, 2015 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 92,923 $ 92,923 Policy loans (b) - 661,466 - 661,466 Total assets $ - $ 661,466 $ 92,923 $ 754,389 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 71,433 $ 71,433 Policy loans (b) - 681,071 - 681,071 Total assets $ - $ 681,071 $ 71,433 $ 752,504 (a) The fair value of mortgage loans on real estate is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and/or remaining maturities. (b) Policy loans are stated at unpaid principal balance. The fair value of policy loans approximates book value.

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Investments	Note 3. Investments Fixed Maturity and Equity Securities The amortized cost/cost and estimated fair value of investments in fixed maturity and equity AFS securities at December 31, 2015 and 2014 were: December 31, 2015 Amortized Gross Unrealized Estimated OTTI in AOCI (a) Gains Losses Fair Value Fixed maturity AFS securities Corporate securities $ 977,900 $ 57,648 $ (18,756 ) $ 1,016,792 $ - Asset-backed securities 118,993 4,140 (479 ) 122,654 (42) Commercial mortgage-backed securities 70,083 1,904 (304 ) 71,683 - Residential mortgage-backed securities 56,527 2,819 (81 ) 59,265 - Municipals 913 - (106 ) 807 - Government and government agencies United States 339,686 46,634 (32 ) 386,288 - Foreign 6,591 1,257 - 7,848 - Total fixed maturity AFS securities $ 1,570,693 $ 114,402 $ (19,758 ) $ 1,665,337 $ (42) Equity securities Banking securities $ 27,986 $ 1,769 $ (1,082 ) $ 28,673 $ - Industrial securities 5,791 203 - 5,994 - Total equity securities $ 33,777 $ 1,972 $ (1,082 ) $ 34,667 $ - December 31, 2014 Gross Unrealized Estimated Amortized Gains Losses Fair Value OTTI (a) Fixed maturity AFS securities Corporate securities $ 1,095,082 $ 89,852 $ (7,525 ) $ 1,177,409 $ - Asset-backed securities 127,803 5,743 (386 ) 133,160 (97) Commercial mortgage-backed securities 96,594 4,341 (134 ) 100,801 - Residential mortgage-backed securities 42,205 3,244 (2 ) 45,447 - Municipals 916 - (116 ) 800 - Government and government agencies United States 334,448 65,805 (2 ) 400,251 - Foreign 8,673 1,372 - 10,045 - Total fixed maturity AFS securities $ 1,705,721 $ 170,357 $ (8,165 ) $ 1,867,913 $ (97) Equity securities Banking securities $ 28,137 $ 2,135 $ (570 ) $ 29,702 $ - Industrial securities 5,791 465 - 6,256 - Total equity securities $ 33,928 $ 2,600 $ (570 ) $ 35,958 $ - (a) Represents OTTI in AOCI, which were not included in earnings. Amount excludes $2,515 and $3,202 of unrealized gains at December 31, 2015 and 2014, respectively. Excluding investments in U.S. government and government agencies, the Company is not exposed to any significant concentration of credit risk in its fixed maturity securities portfolio. The amortized cost and estimated fair value of fixed maturity AFS securities by investment grade at December 31, 2015 and 2014 were: December 31, 2015 December 31, 2014 Amortized Estimated Value Amortized Estimated Value Investment grade $ 1,467,677 $ 1,565,053 $ 1,615,944 $ 1,776,153 Below investment grade 103,016 100,284 89,777 91,760 Total fixed maturity AFS securities $ 1,570,693 $ 1,665,337 $ 1,705,721 $ 1,867,913 At December 31, 2015 and 2014, the estimated fair value of fixed maturity securities rated BBB- was $79,958 and $107,865, respectively, which is the lowest investment grade rating given by S&P. Below investment grade securities are speculative and are subject to significantly greater risks related to the creditworthiness of the issuers and the liquidity of the market for such securities. The Company closely monitors such investments. The amortized cost and estimated fair value of fixed maturity AFS securities at December 31, 2015 and 2014 by contractual maturities were: December 31, 2015 December 31, 2014 Amortized Estimated Value Amortized Estimated Value Fixed maturity AFS securities Due in one year or less $ 64,114 $ 65,086 $ 61,405 $ 62,356 Due after one year through five years 564,707 599,965 480,098 514,063 Due after five years through ten years 230,858 230,815 453,522 481,957 Due after ten years 465,410 515,868 444,094 530,129 1,325,089 1,411,734 1,439,119 1,588,505 Mortgage-backed securities and other asset-backed securities 245,604 253,603 266,602 279,408 Total fixed maturity AFS securities $ 1,570,693 $ 1,665,337 $ 1,705,721 $ 1,867,913 In the preceding table fixed maturity securities not due at a single maturity date, have been included in the year of final maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The Company had investment securities with an estimated fair value of $14,629 and $20,484 that were deposited with insurance regulatory authorities at December 31, 2015 and 2014, respectively. Unrealized Gains (Losses) on Fixed Maturity and Equity Securities The Company’s investments in fixed maturity and equity securities classified as AFS are carried at estimated fair value with unrealized gains and losses included in stockholder’s equity as a component of accumulated other comprehensive income (loss), net of taxes. The estimated fair value and gross unrealized losses and OTTI related to fixed maturity and equity AFS securities aggregated by length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015 and 2014 were as follows: December 31, 2015 Estimated Amortized Gross (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 130,718 $ 139,846 $ (9,128 ) Asset-backed securities 59,051 59,312 (261 ) Commercial mortgage-backed securities 17,185 17,450 (265 ) Residential mortgage-backed securities 3,896 3,966 (70 ) Government and government agencies - United States 18,484 18,516 (32 ) Total fixed maturity and equity securities 229,334 239,090 (9,756 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities 27,872 30,597 (2,725 ) Asset-backed securities 455 463 (8 ) Commercial mortgage-backed securities 988 1,028 (40 ) Residential mortgage-backed securities 1,020 1,030 (10 ) Total fixed maturity and equity securities 30,335 33,118 (2,783 ) Greater than one year Fixed maturity AFS securities Corporate securities 8,628 15,531 (6,903 ) Asset-backed securities 4,788 4,999 (211 ) Residential mortgage-backed securities 39 40 (1 ) Municipals 808 912 (104 ) Equity securities - banking securities 9,214 10,296 (1,082 ) Total fixed maturity and equity securities 23,477 31,778 (8,301 ) Total fixed maturity and equity securities $ 283,146 $ 303,986 $ (20,840 ) December 31, 2014 Estimated Amortized Gross (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 60,583 $ 64,799 $ (4,216 ) Asset-backed securities 70,078 70,188 (110 ) Commercial mortgage-backed securities 528 529 (1 ) Government and government agencies - United States 9,310 9,312 (2 ) Equity securities - banking securities 8,050 8,500 (450 ) Total fixed maturity and equity securities 148,549 153,328 (4,779 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities 3,363 3,783 (420 ) Residential mortgage-backed securities 9 9 - Total fixed maturity and equity securities 3,372 3,792 (420 ) Greater than one year Fixed maturity AFS securities Corporate securities 44,656 47,545 (2,889 ) Asset-backed securities 6,721 6,997 (276 ) Commercial mortgage-backed securities 8,504 8,637 (133 ) Residential mortgage-backed securities 59 61 (2 ) Municipals 800 916 (116 ) Equity securities - banking securities 1,676 1,796 (120 ) Total fixed maturity and equity securities 62,416 65,952 (3,536 ) Total fixed maturity and equity securities $ 214,337 $ 223,072 $ (8,735 ) (a) Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI. The total number of securities in an unrealized loss position was 133 and 95 at December 31, 2015 and 2014, respectively. There were five securities in a continuous unrealized loss position where fair value had declined below amortized cost by more than 20% at December 31, 2015. The securities had an estimated fair value of $11,372 with an unrealized loss of ($4,052). There were four securities in a continuous unrealized loss position where the fair value had declined below amortized cost by more than 40% at December 31, 2015. The securities had an estimated fair value of $5,357 with an unrealized loss of ($7,279). There were two securities in a continuous unrealized loss position where fair value had declined below amortized cost by more than 20% at December 31, 2014. The securities had an estimated fair value of $3,221 with an unrealized loss of ($2,665). Unrealized gains (losses) incurred during the years ended December 31, 2015 and 2014 were primarily due to price fluctuations resulting from changes in interest rates and credit spreads. If the Company has the intent to sell or it is more likely than not that the Company will be required to sell these securities prior to the anticipated recovery of the amortized cost, securities are written down to fair value. If cash flow models indicate a credit event will impact future cash flows, the security is impaired to discounted cash flows. As the remaining unrealized losses in the portfolio relate to holdings where the Company expects to receive full principal and interest, the Company does not consider the underlying investments to be impaired. The components of net unrealized gains (losses) and OTTI included in accumulated other comprehensive income (loss), net of taxes, at December 31, 2015 and 2014 were as follows: December 31, 2015 2014 Assets Fixed maturity securities $ 94,644 $ 162,192 Equity securities 890 2,030 Cash flow hedges 4,202 2,296 Value of business acquired (21,812 ) (35,943 ) 77,924 130,575 Liabilities Income taxes - deferred (21,333 ) (21,333 ) (21,333 ) (21,333 ) Stockholder’s equity Accumulated other comprehensive income, net of taxes $ 56,591 $ 109,242 The Company records certain adjustments to policyholder account balances in conjunction with the unrealized holding gains or losses on investments classified as available for sale. The Company adjusts a portion of these liabilities as if the unrealized holding gains or losses had actually been realized, with corresponding credits or charges reported in accumulated other comprehensive income (loss), net of taxes. At December 31, 2015 and 2014, there were no adjustments to policyholder account balances in conjunction with the unrealized holding gains or losses on investments classified as available-for-sale. Mortgage Loans on Real Estate Mortgage loans on real estate consist entirely of mortgages on commercial real estate. Prepayment premiums are collected when borrowers elect to prepay their debt prior to the stated maturity, and are included in net realized investment gains (losses), excluding OTTI on securities, in the Statements of Income. There was $335 of prepayment premiums collected for the year ended December 31, 2015. There were no prepayment premiums for the year ended December 31, 2014. Loans are considered impaired when it is probable that based upon current information and events, the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. A valuation allowance is established for the excess carrying value of an impaired loan over its estimated collateral value. In addition to the valuation allowance for specific loans, a general reserve is estimated based on a percent of the outstanding loan balance. The general reserve at December 31, 2015 and 2014 was $78 and $36, respectively. The change in the reserve is reflected in net realized investment gains (losses), excluding OTTI on securities, in the Statements of Income. There were no impaired mortgage loans at December 31, 2015 or 2014. The change in the credit loss allowances on mortgage loans by type of property for the years ended at December 31 was as follows: December 31, Commercial 2015 2014 Balance at beginning of period $ 36 $ 27 Provision 42 9 Balance at end of period $ 78 $ 36 The commercial mortgages are geographically diversified throughout the United States with the largest concentrations in Pennsylvania, California, Missouri, Virginia, New Hampshire, Washington, Florida, and Minnesota, which account for approximately 72% of mortgage loans at December 31, 2015. The credit quality of mortgage loans by type of property at December 31 was as follows: December 31, Commercial 2015 2014 AAA - AA $ 31,835 $ 21,378 A 49,084 45,325 BBB 9,090 - BBB - BB 2,983 - Total mortgage loans on real estate 92,992 66,703 Less: reserves (78 ) (36 ) Total mortgage loans on real estate, net $ 92,914 $ 66,667 The credit quality for the commercial mortgage loans was determined based on an internal credit rating model which assigns a letter rating to each mortgage loan in the portfolio as an indicator of the quality of the mortgage loan. The internal credit rating model was designed based on a rating agency methodology, then modified for credit risk associated with the Company’s mortgage lending process, taking into account such factors as projected future cash flows, net operating income, and collateral value. The model produces a rating score and an associated letter rating that is intended to align with S&P ratings as closely as possible. Information supporting the risk rating process is updated at least annually. While mortgage loans with a lower rating carry a higher risk of loss, adequate reserves for loan losses have been established to cover those risks. Securities Lending The following table provides a summary of the securities under securities lending agreements at December 31: December 31, 2015 2014 Payables for collateral under securities loaned $ 194,537 $ 265,236 Amortized cost of securities out on loan 162,698 215,195 Estimated fair value of securities out on loan 188,689 260,060 Reverse Repurchase Agreements The following table provides a summary of the securities under reverse repurchase agreements at December 31: December 31, 2015 2014 Payable for reverse repurchase agreements $ - $ 644 Amortized cost of securities pledged - 634 Estimated fair value of securities pledged - 646 Collateral Maturities of Reverse Repurchase Agreements and Securities LendingTransactions The following table provides a summary of collateral maturities of reverse repurchase agreements and securities lending transactions at December 31: December 31, 2015 Overnight and Up to 30 days Total Reverse repurchase agreements U.S. Treasury and agency securities - - - Residential mortgage-backed securities $ - $ - $ - Total - - - Securities lending transactions U.S. Treasury and agency securities 155,586 - 155,586 Corporate securities 19,786 - 19,786 Equity securities - banking 13,317 - 13,317 Total 188,689 - 188,689 Total Borrowings $ 188,689 $ - $ 188,689 Gross amount of recognized liabilities for repurchase agreements and securities lending in balance sheets $ 194,537 Derivatives and Hedge Accounting The Company uses several types of derivatives to manage the capital market risk associated with the GMWB. S&P futures contracts and interest rate futures contracts are used to hedge the equity risk and interest rate risk, respectively, associated with these types of variable guaranteed products, in particular the claim and/or revenue risks of the liability portfolio. Net settlements on the futures occur daily. The realized gains (losses) on settlement of these futures are recorded in net derivative gains (losses) in the Statements of Income. The Company uses variance swaps to hedge equity risk. During 2013, the Company also entered into total return swaps that are based on the S&P. The Company recognizes gains (losses) from the change in the fair value of the variance swaps and total return swaps in net derivative gains (losses) in the Statements of Income. During the third quarter of 2013, the Company entered into cash flow hedging transactions on Treasury Inflation Protected Securities (“TIPS”) utilizing interest rate swaps to lengthen portfolio duration and to hedge the variability of cash flows due to changes in inflation. The Company recognizes hedge ineffectiveness gains (losses) from the difference of the change in fair value of the swap and the change in fair value of the underlying Treasury in net derivative gains (losses) in the Statements of Income. During the fourth quarter of 2014, the Company began writing credit default swaps enabling the Company to change the risk profile of the assets in the portfolio by enhancing the overall yield. As a writer of credit default swaps, the Company actively monitors the underlying asset, being careful to note any events (default or similar credit event) that would require the Company to perform on the credit default swap. If such events would take place, the Company has recourse provisions from the proceeds of the bankruptcy settlement of the underlying entity or by the sale of the underlying bond. In the event the representative issuer defaults on its debt obligation referenced in the contract, a payment equal to the notional amount of the contract will be made by the Company and recognized in net derivative gains (losses) in the Statement of Income. During the fourth quarter of 2015, the Company entered into fixed-to-float and float-to-fixed interest rate swaps in order to hedge the interest rate risk on the underlying liability. The Company holds these contracts at fair market value, and gains (losses) related to changes in fair value are recognized in net derivative gains (losses) in the Statements of Income. The Company also uses an option strategy to hedge equity risk. These derivatives were purchased in the second quarter of 2015 as part of a hedging program which hedges a specific range of equity market decline. The strategy has limited profitability but also limited risk characteristics due to the structure of the package of put options. The Company recognizes gains (losses) from the change in fair value of the options in net derivative gains (losses) in the Statements of Income. The following table presents the notional and fair value for hedging instruments as of December 31, 2015 and 2014: Notional Fair Value December 31, December 31, Derivative Type 2015 2014 2015 2014 Non-qualifying hedges Short futures $ 47,221 $ 49,873 $ - $ - Long futures 51,573 - - - Interest rate swaps 192,000 - (2,228 ) - Variance swaps 675 1,059 (1,525 ) (3,243 ) Total return swaps 1,315,900 852,910 (1,429 ) (17,941 ) Options 587,046 - 11,055 - Credit default swaps 210,000 170,000 65 2,017 Total non-qualifying hedges 2,404,415 1,073,842 5,938 (19,167 ) Cash flow hedges Interest rate swaps 49,884 49,884 3,285 1,478 Total cash flow hedges 49,884 49,884 3,285 1,478 Derivative Total $ 2,454,299 $ 1,123,726 $ 9,223 $ (17,689 ) The following table presents the net derivative gains (losses) recognized in the Statements of Income: Net Derivative Gains (Losses) Recognized In Income December 31, Derivative Type 2015 2014 2013 Short futures $ (2,002 ) $ (7,819 ) $ (33,021 ) Long futures (1,029 ) - 41,073 Variance swaps (2,838 ) (5,118 ) (6,964 ) Total return swaps (36,481 ) (60,439 ) 26,941 Options (puts and calls) 7,650 - - Interest rate swaps (2,222 ) (77 ) (84 ) Equity Collar - - (287,845 ) Credit default swaps (535 ) (2,700 ) - Total $ (37,457 ) $ (76,153 ) $ (259,900 ) The following table presents the maximum potential amount of future payments, credit rating, and maturity dates for the credit default swaps at December 31, 2015 and 2014: Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type December 31, 2015 Credit default swaps Corporate debt $ 120,000 A June 2017 - December 2020 Sovereign debt 90,000 AA-A June 2017 - March 2020 Credit default swaps total $ 210,000 Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type December 31, 2014 Credit default swaps Corporate debt $ 100,000 A June 2017 - December 2020 Sovereign debt 70,000 A June 2017 - December Credit default swaps total $ 170,000 The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges: Gain (Loss) Recognized in Net Realized Gains (Losses) Recognized in OCI on Derivative (Effective Portion) Income on Derivative (Ineffective Portion) December 31, December 31, 2015 2014 2013 2015 2014 2013 Interest rate swaps $ 1,906 $ 483 $ 1,813 $ 5 $ (77 ) $ (84 ) Total $ 1,906 $ 483 $ 1,813 $ 5 $ (77 ) $ (84 ) Gain (Loss) Reclassified from AOCI into Income (Effective Portion) December 31, Location 2015 2014 2013 Interest rate swaps Net investment income $ (99 ) $ (761 ) $ (57 ) Total $ (99 ) $ (761 ) $ (57 ) All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness. As of December 31, 2015, the amount of before-tax deferred net losses on derivatives recorded in AOCI that is expected to be reclassified to the Statements of Income during the next twelve months is ($99). This expectation is based on the anticipated interest payments on the hedged investments in TIPS that will occur over the next twelve months, at which time the Company will recognize the deferred gains (losses) as an adjustment to interest income over the term of the investment cash flows. The Company receives or pledges collateral related to these derivative transactions. The credit support agreement contains a fair value threshold of $1,000 over which collateral needs to be pledged by the Company or its counterparty. At December 31, 2015 and 2014, the Company has pledged securities in the amount of $16,439 and $27,862, respectively, to counterparties. At December 31, 2015 the Company held cash collateral received from counter parties in the amount of $11,405. The Company did not hold cash collateral received from counterparties at December 31, 2014. In addition, in order to trade futures, the Company is required to post collateral to an exchange (sometimes referred to as margin). The fair value of collateral posted in relation to the futures margin was $4,136 and $3,235 at December 31, 2015 and 2014, respectively. Offsetting of Financial Instruments The Company has derivative instruments that are subject to master netting agreements. These agreements include provisions to setoff positions with the same counterparties in the event of default by one of the parties. The following tables present the offsetting of derivative assets at December 31, 2015 and 2014: December 31, 2015 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Financial Cash Collateral Net Amount Derivatives $ 38,125 $ 27,232 $ 10,893 $ 8,158 $ - $ 2,735 Total $ 38,125 $ 27,232 $ 10,893 $ 8,158 $ - $ 2,735 December 31, 2014 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 5,467 $ 4,412 $ 1,055 $ - $ - $ 1,055 Total $ 5,467 $ 4,412 $ 1,055 $ - $ - $ 1,055 The following tables present the offsetting of derivative liabilities at December 31, 2015 and 2014: December 31, 2015 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 28,902 $ 15,827 $ 13,075 $ 10,847 $ - $ 2,228 Total $ 28,902 $ 15,827 $ 13,075 $ 10,847 $ - $ 2,228 December 31, 2014 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 23,156 $ 4,412 $ 18,744 $ 17,637 $ - $ 1,107 Total $ 23,156 $ 4,412 $ 18,744 $ 17,637 $ - $ 1,107 There were no other financial assets or financial liabilities at December 31, 2015 and 2014 that were subject to offsetting. Net Investment Income Net investment income by source for the years ended December 31 was as follows: Net investment income 2015 2014 2013 Fixed maturity securities -available-for-sale $ 70,495 $ 72,568 $ 80,560 Equity securities 2,061 2,091 2,083 Limited partnerships (778 ) 436 (153 ) Mortgage loans on real estate 4,111 3,100 3,275 Policy loans on insurance contracts 35,435 36,765 38,334 Derivatives 4,631 4,478 1,573 Cash and cash equivalents 649 559 619 Other 234 351 366 Gross investment income 116,838 120,348 126,657 Less investment expenses (4,654 ) (3,410 ) (5,524 ) Net investment income $ 112,184 $ 116,938 $ 121,133 Realized Investment Gains (Losses) The Company considers fair value at the date of sale to be equal to proceeds received. Proceeds and gross realized investment gains (losses) from the sale of AFS securities for the years ended December 31 were as follows: 2015 2014 2013 Proceeds $ 226,843 $ 106,257 $ 756,322 Gross realized investment gains 6,722 4,754 9,598 Gross realized investment losses (3,119 ) (867 ) (13,787 ) Proceeds on AFS securities sold at a realized loss 74,724 27,987 296,028 Net realized investment gains (losses) for the years ended December 31 were as follows: 2015 2014 2013 Fixed maturity AFS securities $ 1,380 $ 3,753 $ (5,103 ) Equity securities 350 30 171 Mortgage loans on real estate 313 (1,997 ) (2 ) Adjustment related to VOBA (353 ) 842 439 Net realized investment gains (losses) $ 1,690 $ 2,628 $ (4,495 ) In 2015, 2014 and 2013 there were no impaired limited partnerships. There were no impaired mortgage loans at December 31, 2015. There was one impaired mortgage loan during 2014 that was subsequently sold during 2014 for a ($1,997) realized loss. There were no impaired mortgage loans at December 31, 2013. OTTI The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated, for which a portion of the OTTI loss was recognized in OCI, and the corresponding changes in such amounts for the years ended December 31: December 31, 2015 2014 Balance at beginning of period $ (185 ) $ 714 Credit loss impairment recognized in the current period on securities not previously impaired 1,764 - Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income 109 104 Accretion of credit loss impairments previously recognized (859 ) (1,003 ) Balance at end of period $ 829 $ (185 ) The components of OTTI reflected in the Statements of Income for the years ended December 31 were as follows: 2015 2014 2013 Gross OTTI losses on securities $ 1,873 $ 104 $ 743 VOBA - - (35 ) Net OTTI losses recognized in income $ 1,873 $ 104 $ 708 During 2015, the Company impaired its holding of a previously OCI impaired 2006 vintage residential mortgage backed security (“RMBS”), a previously OCI impaired 2007 vintage RMBS and a public non-convertible bond due to adverse changes in cash flows. During 2014, the Company impaired its holding of a previously OCI impaired 2006 vintage RMBS and a previously OCI impaired 2007 vintage RMBS due to adverse changes in cash flows. During 2013, the Company had an intent to sell an impaired corporate bond, two previously OCI impaired 2007 vintage RMBS and one 2006 vintage RMBS due to adverse changes in cash flows.

Value of Business Acquired ("VO

Value of Business Acquired ("VOBA"), Deferred Policy Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI")	12 Months Ended
	Dec. 31, 2015
Value of Business Acquired ("VOBA"), Deferred Policy Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI")	Note 4. VOBA, DAC, and DSI VOBA The change in the carrying amount of VOBA for the years ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 268,079 $ 284,602 Amortization expense (22,478 ) (17,405 ) Unlocking 114 6,565 Adjustment related to realized gains on investments and OTTI (353 ) 842 Adjustment related to unrealized (gains) losses 14,131 (6,525 ) Balance at end of period $ 259,493 $ 268,079 The decrease in VOBA in 2015 was primarily driven by positive gross profits due to favorable performance of Separate Accounts during the year, which resulted in increased amortization. The decrease was partially offset by an increase in adjustments related to unrealized (gains) losses and OTTI on investments resulting from unrealized losses during the year as compared to 2014 which had unrealized gains. The estimated future amortization of VOBA from 2016 to 2020 is as follows: 2016 $ 22,425 2017 21,147 2018 19,721 2019 18,276 2020 17,047 DAC The change in the carrying amount of DAC for the year ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 41,127 $ 34,869 Capitalization 156 190 Accretion (amortization) (2,310 ) 3,690 Unlocking (1,473 ) 2,378 Balance at end of period $ 37,500 $ 41,127 The decrease in DAC in 2015 was primarily driven by amortization from positive gross profits. The increase in DAC in 2014 was driven by negative gross profits from the increase in fair value reserves. DSI The change in the carrying amount of DSI for the year ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 9,351 $ 7,544 Capitalization 22 27 Accretion (amortization) (521 ) 917 Unlocking (335 ) 863 Balance at end of period $ 8,517 $ 9,351 The decrease in DSI in 2015 was primarily driven by positive gross profits due to favorable performance of Separate Accounts during the year which resulted in increased amortization. The change in unlocking was due to change assumption updates during 2015 when compared to 2014.

Variable Contracts Containing G

Variable Contracts Containing Guaranteed Benefits	12 Months Ended
	Dec. 31, 2015
Variable Contracts Containing Guaranteed Benefits	Note 5. Variable Contracts Containing Guaranteed Benefits Variable Annuity Contracts Containing Guaranteed Benefits Prior to 2009, the Company issued variable annuity contracts in which the Company may have contractually guaranteed to the contract owner a guaranteed minimum death benefit (“GMDB”) and/or an optional guaranteed living benefit provision. The living benefit provisions offered by the Company included a guaranteed minimum income benefit (“GMIB”) and a GMWB. Information regarding the general characteristics of each guaranteed benefit type is provided below: • In general, contracts containing GMDB provisions provide a death benefit equal to the greater of the GMDB or the contract value. Depending on the type of contract, the GMDB may equal: (1) contract deposits accumulated at a specified interest rate, (2) the contract value on specified contract anniversaries, (3) return of contract deposits, or (4) some combination of these benefits. Each benefit type is reduced for contract withdrawals. • In general, contracts containing GMIB provisions provide the option to receive a guaranteed future income stream upon annuitization. There is a waiting period of ten years from contract issue that must elapse before the GMIB provision can be exercised. • Contracts containing GMWB provisions provide the contract owner the ability to withdraw minimum annual payments regardless of the impact of market performance on the contract owner’s account value. In general, withdrawal percentages are based on the contract owner’s age at the time of the first withdrawal. The Company had the following variable annuity contracts containing guaranteed benefits at December 31: GMDB GMIB GMWB 2015 Net amount at risk (a) $ 839,586 $ 21,371 $ 8,912 Average attained age of contract owners 71 66 75 Weighted average period remaining until expected annuitization N/A 1.7 Years N/A 2014 Net amount at risk (a) $ 717,444 $ 9,511 $ 3,861 Average attained age of contract owners 72 66 74 Weighted average period remaining until expected annuitization N/A 1.7 Years N/A (a) Net amount at risk for GMDB is defined as the current GMDB in excess of the contract owners’ account balance at the Balance Sheet date. Net amount at risk for GMIB is defined as the present value of the minimum guaranteed annuity payments available to the contract owner in excess of the contract owners’ account balance at the Balance Sheet date. Net amount at risk for GMWB is defined as the difference between the maximum amount payable under the guarantee and the contract owners’ account balance at the Balance Sheet date. The definition for net amount at risk on GMWB was changed to be in compliance with the industry definition. The net amount at risk for GMWB at December 31, 2014 was corrected from $119,712 to $3,861 to reflect this updated definition. The Company records liabilities for contracts containing GMDB and GMIB as a component of future policy benefits in the Balance Sheets and changes in the liabilities are included as a component of policy benefits in the Statements of Income. The GMDB and GMIB liabilities are determined by projecting future expected guaranteed benefits under multiple scenarios for returns on Separate Accounts assets. The Company uses estimates for mortality and policyholder behavior assumptions based on actual and projected experience for each contract type. These estimates are consistent with the estimates used in the calculation of DAC. The Company regularly evaluates the estimates used and adjusts the GMDB and/or GMIB liability balances with a related charge or credit to earnings (“unlocking”), if actual experience or evidence suggests that earlier assumptions should be revised. The changes in the variable annuity GMDB and GMIB liabilities for the years ended December 31 were as follows: GMDB GMIB Balance, January 1, 2014 $ 122,490 $ 63,804 Guaranteed benefits incurred 29,372 11,655 Guaranteed benefits paid (27,516 ) (1,261 ) Unlocking (12,251 ) (4,423 ) Balance, December 31, 2014 112,095 69,775 Guaranteed benefits incurred 26,864 11,919 Guaranteed benefits paid (25,063 ) (1,198 ) Unlocking 17,482 14,552 Balance, December 31, 2015 $ 131,378 $ 95,048 The change in the liability was primarily driven by favorable unlocking do to updated policyholder assumption during 2015 when compared to 2014. At December 31, contract owners’ account balances by mutual fund class by guaranteed benefit provisions were comprised as follows: Equity Bond Balanced Money Total 2015 GMDB only $ 1,313,314 $ 459,890 $ 367,161 $ 125,174 $ 2,265,539 GMDB and GMIB 831,162 273,085 105,572 169,148 1,378,967 GMDB and GMWB 299,298 117,689 1,876 108,445 527,308 GMWB only 124,192 47,519 1,239 43,771 216,721 GMIB only 75,495 24,642 1,587 32,336 134,060 No guaranteed benefit 16,060 5,600 610 12,906 35,176 Total $ 2,659,521 $ 928,425 $ 478,045 $ 491,780 $ 4,557,771 2014 GMDB only $ 1,526,652 $ 508,580 $ 421,177 $ 146,636 $ 2,603,045 GMDB and GMIB 963,229 273,678 130,170 222,413 1,589,490 GMDB and GMWB 350,195 106,693 2,712 154,544 614,144 GMWB only 144,587 43,950 1,805 62,323 252,665 GMIB only 88,566 23,688 1,840 42,583 156,677 No guaranteed benefit 17,657 4,887 585 14,153 37,282 Total $ 3,090,886 $ 961,476 $ 558,289 $ 642,652 $ 5,253,303 Variable Life Contracts Containing Guaranteed Benefits The Company has issued variable life contracts in which the Company contractually guarantees to the contract owner a GMDB. In general, contracts containing GMDB provisions provide a death benefit equal to the amount specified in the contract regardless of the level of the contract’s account value. At December 31, contract owners’ account balances by mutual fund class for contracts containing GMDB provisions were distributed as follows: 2015 2014 Balanced $ 608,486 $ 671,430 Equity 533,700 578,149 Bond 135,117 154,326 Money Market 105,591 114,161 Total $ 1,382,894 $ 1,518,066

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes	Note 6. Income Taxes The following is a reconciliation of the provision for income taxes based on income (loss) before federal income taxes, computed using the federal statutory rate versus the reported provision for income taxes for the years ended December 31: 2015 2014 2013 Provisions for income taxes computed at Federal statutory rate (35%) $ 3,129 $ 13,635 $ (48,278 ) Increase (decrease) in income taxes resulting from: Dividend received deduction (6,622 ) (7,861 ) (8,960 ) Tax credits (302 ) (416 ) (520 ) Valuation allowance on deferred tax assets (1,497 ) (510 ) 133,499 Provision to return adjustment 498 558 (1,740 ) State taxes (benefits) (287 ) (92 ) 2,082 Unrecognized tax benefits 363 110 283 Income tax provision $ (4,718 ) $ 5,424 $ 76,366 The effective tax rate was not meaningful for the twelve months ended December 31, 2015, 2014, and 2013. Differences between the effective rate and the U.S. statutory rate of 35% principally were the result of Separate Accounts dividends-received deduction (“DRD”) and the valuation allowance on net operating loss carryforward. The Company provides for deferred income taxes resulting from temporary differences that arise from recording certain transactions in different years for income tax reporting purposes than for financial reporting purposes. The asset and liability method requires that deferred taxes be adjusted to reflect the tax rates at which future taxable amounts will be settled or realized. The Company provides for federal income taxes based on amounts it believes it will ultimately owe. Inherent in the provision for federal income taxes are estimates regarding the realization of certain tax deductions and credits. Deferred tax assets and liabilities at December 31 were as follows: December 31, 2015 2014 Deferred tax assets Tax DAC $ 29,634 $ 44,525 Net operating and capital loss carry forward 210,363 184,806 Intangible assets 34,942 40,355 Policy holder reserves 22,955 39,840 Tax credits 13,084 12,790 Other 1,528 1,652 Total deferred tax assets 312,506 323,968 Valuation allowance (130,946 ) (113,406 ) Net deferred tax assets 181,560 210,562 Deferred tax liabilities Book DAC and VOBA 109,789 115,270 Policy holder reserves 26,740 31,440 Investments 45,139 68,686 Total deferred tax liabilities 181,668 215,396 Total net deferred tax asset (liability) $ (108 ) $ (4,834 ) The provision for income tax expense (benefit) consists of the following for the years ended: December 31, 2015 2014 2013 Current federal income tax expense (benefit) $ - $ 181 $ (61 ) Current state income tax expense 9 - 158 Deferred federal income tax expense (benefit) (4,275 ) 5,385 73,218 Deferred state income tax expense (benefit) (452 ) (142 ) 3,051 Total income tax expense (benefit) $ (4,718 ) $ 5,424 $ 76,366 The provision for income tax asset/(liability) consists of the following for the periods ending December 31: December 31, 2015 2014 Current federal income tax liability $ (179 ) $ (179 ) Current state income tax liability (287 ) (96 ) Deferred federal income tax liability (1,620 ) (5,895 ) Deferred state income tax asset 1,512 1,061 Net income tax payable $ (574 ) $ (5,109 ) At December 31, 2015 and December 31, 2014, the Company has a tax valuation allowance for deferred tax assets of $130,946 and $113,406, respectively (this includes losses that are anticipated to be used in the consolidated group to reflect the income statement impact of the losses that wouldn’t be used if filing separately). At December 31, 2013, management determined that deferred tax assets on the net operating loss carryforward and other assets were not more likely than not to be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that all or some of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on generation of future taxable income during the periods in which those temporary differences are deductible. Management considers the scheduled reversal of deferred tax liabilities, projected taxable income, and tax-planning strategies in making the assessment. The Company has analyzed all material tax positions under the guidance of ASC 740, Income Taxes, related to the accounting for uncertainty in income tax, and determined there were tax benefits of $3,404 (gross $9,727) and $3,041 (gross $8,689), respectively, that should not be recognized at December 31, 2015 and December 31, 2014, which primarily relate to uncertainty regarding the sustainability of certain deductions taken on the 2008 through 2014 U.S. Federal income tax returns. To the extent these unrecognized tax benefits are ultimately recognized, they will impact the effective tax rate in a future period. It is not anticipated that the total amounts of unrecognized tax benefits will significantly increase within twelve months of the reporting date. The components of the change in the unrecognized tax benefits were as follows: December 31, 2015 2014 Balance at beginning of period $ 3,041 $ 2,931 Additions for tax positions of prior years 363 110 Additions for tax positions of current year 293 - Reductions for tax positions of current year (293 ) - Balance at end of period $ 3,404 $ 3,041 At December 31, 2015 and 2014, the Company had an operating loss carryforward for federal income tax purposes of $577,762 (net of the ASC 740 reduction of $9,727) and $505,102 (net of the ASC 740 reduction of $8,689), respectively, with a carryforward period of fifteen years that expire at various dates up to 2030. At December 31, 2015 and 2014, the Company had a capital loss carryforward of $84 and $2,468, respectively, for federal income tax purposes with a carryforward period of five years that will expire in 2018. At December 31, 2015 and 2014, the Company had a foreign tax credit carryforward of $8,869 and $8,574, respectively, with a carryforward period of ten years that will expire at various dates up to 2025. Also, the Company has an Alternative Minimum Tax credit carryforward for federal income tax purposes of $4,216 at December 31, 2015 and 2014, with an indefinite carryforward period. The Company classifies interest and penalties related to income taxes as interest expense and penalty expense, respectively. The Company did not recognize any penalties in its financial statements at December 31, 2015 and 2014. The Company recognized interest (income) expense of $86 at December 31, 2015 and less than ($1), at December 31 2014 and 2013, respectively. The Company records taxes on a separate company basis. Effective January 1, 2013 for federal income tax purposes the Company joined in a consolidated income tax return filing with its direct parent, AUSA, and its indirect parent, Transamerica Corporation, and other affiliated companies. The method of allocation between the companies is subject to a written tax allocation agreement. Under the terms of the agreement, taxes are payable to or receivable from Transamerica Corporation in amounts that would result had the Company filed a separate tax return with taxing authorities. Any tax differences between the Company’s separately calculated provision and cash flows attributable to benefits from consolidation have been recognized as capital contributions from Transamerica Corporation. As of December 31, 2015 and 2014, the Company recognized capital contributions from Transamerica Corporation in connection with the tax allocation agreement in the amount of $68,492 and $179,029, respectively. Intercompany income tax balances are settled within thirty days of payment to or filing with the Internal Revenue Service. The Company filed a separate federal income tax return for the years 2008 through 2012. The Company was part of the consolidated tax return for 2013 and 2014. An examination by the Internal Revenue Service is in progress for the years 2011 through 2013. The Company believes that there are adequate defenses against or sufficient provisions established related to any open or contested tax positions. A consolidated tax return has not been filed for 2015.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income	Note 7. Accumulated Other Comprehensive Income The following table presents the change in accumulated other comprehensive income by component for the years ended December 31: 2015 Unrealized Holding Gains (Losses) on AFS Securities Unrealized Holding Gains (Losses) on Cash Flow Hedges OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax Total (a) Beginning balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 OCI before reclassifications (70,077 ) 1,807 14,131 (54,139 ) Amounts reclassified from AOCI 1,389 99 - 1,488 Net current period OCI (68,688 ) 1,906 14,131 (52,651 ) Ending balance $ 95,533 $ 4,202 $ (43,144 ) $ 56,591 2014 Unrealized Holding Gains (Losses) on AFS Securities (a) Unrealized Holding Gains (Losses) on Cash Flow Hedges (a) OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax Total (a) Beginning balance $ 88,640 $ 1,813 $ (50,750 ) $ 39,703 OCI before reclassifications 75,196 (278 ) (6,525 ) 68,393 Amounts reclassified from AOCI 385 761 - 1,146 Net current period OCI 75,581 483 (6,525 ) 69,539 Ending balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 2013 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 212,660 - $ (115,950 ) $ 96,710 OCI before reclassifications (101,172 ) 1,756 65,200 (34,216 ) Amounts reclassified from AOCI (22,848 ) 57 - (22,791 ) Net current period OCI (124,020 ) 1,813 65,200 (57,007 ) Ending balance $ 88,640 $ 1,813 $ (50,750 ) $ 39,703 (a) All amounts are net of tax. The following table presents the reclassifications out of accumulated other comprehensive income for the years ended December 31: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is AOCI Components 2015 2014 2013 Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ 484 $ (281 ) $ 23,204 Net realized investment gains (losses) (1,873 ) (104 ) (356 ) Portion of OTTI previously recognized in OCI (1,389 ) (385 ) 22,848 Total before tax - - 8,111 Tax expense (benefit) $ (1,389 ) $ (385 ) $ 14,737 Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (99 ) $ (761 ) $ (57 ) Net investment income (99 ) (761 ) (57 ) Total before tax - - (20 ) Tax benefit $ (99 ) $ (761 ) (37 ) Net of tax Total amounts reclassified from AOCI $ (1,488 ) $ (1,146 ) $ 14,700

Stockholder's Equity and Statut

Stockholder's Equity and Statutory Accounting Principles	12 Months Ended
	Dec. 31, 2015
Stockholder's Equity and Statutory Accounting Principles	Note 8. Stockholder’s Equity and Statutory Accounting Principles The Company’s statutory financial statements are presented on the basis of accounting practices prescribed or permitted by the Insurance Department of the State of Arkansas. The State of Arkansas has adopted the National Association of Insurance Commissioners’ (“NAIC”) statutory accounting principles as the basis of its statutory accounting principles. The Company’s statutory net income (loss) for the years ended December 31, 2015, 2014, and 2013 was ($24,119) $201,479, and $196,612, respectively. Statutory capital and surplus at December 31, 2015 and 2014 was $790,252 and $912,090, respectively. At December 31, 2015 and 2014, approximately $79,025 and $309,501, respectively, of stockholder’s equity was available for dividend distribution that would not require approval by the Arkansas Insurance Department, subject to the availability of unassigned surplus. During 2015, the Company paid a $100,000 return of capital and received $68,492 in capital contributions to or from AUSA. During 2014, the Company paid a $100,000 dividend and received $179,029 in capital contributions to or from AUSA. The NAIC utilizes the Risk Based Capital (“RBC”) adequacy monitoring system. The RBC calculates the amount of adjusted capital that a life insurance company should have based upon that company’s risk profile. At December 31, 2015 and 2014, based on the RBC formula, the Company’s total adjusted capital levels were significantly above the minimum amount of capital required to avoid regulatory action. The Company is currently undergoing a financial examination by the Insurance Department of the State of Arkansas for the period January 1, 2010 through December 31, 2014. The examination is expected to be completed in June 2016.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2015
Reinsurance	Note 9. Reinsurance In the normal course of business, the Company seeks to limit its exposure to loss on any single insured life and to recover a portion of benefits paid by ceding mortality risk to other insurance enterprises or reinsurers under indemnity reinsurance agreements, primarily quota share coverage and coinsurance agreements. The maximum amount of mortality risk retained by the Company is approximately $1,000 on single and joint life policies. Indemnity reinsurance agreements do not relieve the Company from its obligations to contract owners. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company regularly evaluates the financial condition of its reinsurers so as to minimize its exposure to significant losses from reinsurer insolvencies. At December 31, 2015 and 2014, net reinsurance receivable was $68 and net reinsurance payable was ($49), respectively. The Company did not have a reinsurance reserve at December 31, 2015 and 2014. At December 31, 2015, the Company had the following life insurance in force: Gross Ceded to Assumed Net amount Percentage Life insurance inforce $ 4,959,237 $ 188,984 $ 883 $ 4,771,136 0.02 % In addition, the Company seeks to limit its exposure to guaranteed benefit features contained in certain variable annuity contracts. Specifically, the Company reinsures certain GMIB and a GMDB provision to the extent reinsurance capacity is available in the marketplace. At December 31, 2015, 34% ($520,326) and 4% ($182,378) of the account value for variable annuity contracts containing GMIB and GMDB provisions, respectively, were reinsured. At December 31, 2014, 35% ($617,000) and 5% ($217,308) of the account value for variable annuity contracts containing GMIB and GMDB provisions, respectively, were reinsured.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions	Note 10. Related Party Transactions At December 31, 2015, the Company had the following related party agreements in effect: The Company is party to a common cost allocation service agreement between Transamerica Corporation companies in which various affiliated companies may perform specified administrative functions in connection with the operation of the Company, in consideration of reimbursement of actual costs of services rendered. During 2015, 2014 and 2013, the Company incurred $10,818, $9,690, and $10,751, respectively, in expenses under this agreement. Charges attributable to this agreement are included in insurance expenses and taxes, net of amounts capitalized. The Company is party to intercompany short-term note receivable arrangements with its parent and affiliates at various times during the year. On June 19, 2015, the Company entered into an intercompany short-term note receivable with AUSA for $25,000 with an interest rate of 0.13% that is due on June 18, 2016. On June 27, 2014, the Company entered into an intercompany short-term note receivable with AUSA for $50,000 with an interest rate of 0.11% that was paid off in December 2014. On May 21, 2013, the Company entered into an intercompany short-term note receivable of $50,000 with an interest rate of 0.10% that was paid off in December 2013. During 2015, 2014 and 2013, the Company accrued and/or received $18, $27, and $29 of interest, respectively. Interest related to these arrangements is included in net investment income. AEGON USA Realty Advisors, LLC acts as the manager and administrator for the Company’s mortgage loans on real estate under an administrative and advisory agreement with the Company. Charges attributable to this agreement are included in net investment income. During 2015, 2014 and 2013, the Company incurred $149, $89, and $90, respectively, under this agreement. Mortgage loan origination fees are amortized into net investment income over the life of the mortgage loans. There were no mortgage loan origination fees during 2015, 2014 and 2013, respectively. AEGON USA Investment Management, LLC acts as a discretionary investment manager under an investment management agreement with the Company. During 2015, 2014 and 2013, the Company incurred $1,709, $1,770, and $1,673, respectively, in expenses under this agreement. Charges attributable to this agreement are included in net investment income. Transamerica Capital, Inc. provides underwriting and distribution services for the Company under an underwriting agreement. During 2015, 2014 and 2013, the Company incurred $30,356, $30,836 and $32,414, respectively, in expenses under this agreement. Charges attributable to this agreement are included in insurance expenses and taxes, net of amounts capitalized. Transamerica Asset Management, Inc. acts as the investment advisor for certain related party funds in the Company’s Separate Accounts under multiple service agreements. During 2015, 2014 and 2013, the Company incurred $361, $406, and $410, respectively, in expenses under this agreement. Charges attributed to these agreements are included in insurance expenses and taxes, net of amounts capitalized. The Company has a participation agreement with Transamerica Series Trust to offer certain funds in the Company’s Separate Accounts. Transamerica Capital, Inc. acts as the distributor for said related party funds. The Company has entered into a distribution and shareholder services agreement for certain of the said funds. During 2015, 2014 and 2013, the Company received $2,381, $2,584, and $1,873, respectively, in revenue under these agreements. Revenue attributable to this agreement is included in policy charge revenue. The Company purchases and sells investments from/to various affiliated companies. The investments are purchased and sold using the fair value on the date of the acquisition or disposition. The purchasing and selling of investments between affiliated companies for the years ended December 31, were as follows: 2015 2014 2013 Investments purchased from affiliates: AFS fixed maturities $ 30,356 $ 137,281 $ - Mortgages 4,000 - - Limited partnerships - 60,000 - Derivatives - - 15,097 Investments sold to affiliates: AFS fixed maturities $ 24,878 $ 24,844 $ 1,698 Mortgage loans on real estate - 2,038 - Derivatives 82 - - While management believes that the service agreements referenced above are calculated on a reasonable basis, they may not necessarily be indicative of the costs that would have been incurred with an unrelated third party. Affiliated agreements generally contain reciprocal indemnity provisions pertaining to each party’s representations and contractual obligations thereunder.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	Note 11. Commitments and Contingencies State insurance laws generally require that all life insurers who are licensed to transact business within a state become members of the state’s life insurance guaranty association. These associations have been established for the protection of contract owners from loss (within specified limits) as a result of the insolvency of an insurer. At the time insolvency occurs, the guaranty association assesses the remaining members of the association an amount sufficient to satisfy the insolvent insurer’s contract owner obligations (within specified limits). The Company has utilized public information to estimate the future assessments it will incur as a result of life insurance company insolvencies. At December 31, 2015 and 2014, the Company’s estimated liability for future guaranty fund assessments was $144. If future insolvencies occur, the Company’s estimated liability may not be sufficient to fund these insolvencies and the estimated liability may need to be adjusted. The Company regularly monitors public information regarding insurer insolvencies and adjusts its estimated liability as appropriate. In addition, the Company has a receivable for future premium tax deductions of $4,240 and $4,473 at December 31, 2015 and 2014, respectively. In the normal course of business, the Company is subject to various claims and assessments. Management believes the settlement of these matters would not have a material effect on the financial position, results of operations or cash flows of the Company.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information	Note 12. Segment Information In reporting to management, the Company’s operating results are categorized into two business segments: Annuity and Life Insurance. The Company’s Annuity segment consists of variable annuity and interest-sensitive annuity contracts. The Company’s Life Insurance segment consists of variable life insurance and interest-sensitive life insurance contracts. The accounting policies of the business segments are the same as those for the Company’s financial statements included herein. All revenue and expense transactions are recorded at the contract level and accumulated at the business segment level for review by management. The following tables summarize each business segment’s contribution to select Statements of Income information for the years ended December 31: Annuity Life Total 2015 Net revenues (a) $ 114,666 $ 73,583 $ 188,249 Amortization of VOBA 8,110 14,254 22,364 Policy benefits (net of reinsurance recoveries) 68,984 36,262 105,246 Income tax expense (benefit) (9,297 ) 4,579 (4,718 ) Net income (717 ) 14,375 13,658 2014 Net revenues (a) $ 91,381 $ 75,346 $ 166,727 Amortization of VOBA 928 9,912 10,840 Policy benefits (net of reinsurance recoveries) 38,893 38,984 77,877 Income tax expense (benefit) (2,796 ) 8,220 5,424 Net income 19,224 14,309 33,533 2013 Net revenues (a) $ (96,213 ) $ 73,646 $ (22,567 ) Amortization of VOBA 34 4,736 4,770 Policy benefits (net of reinsurance recoveries) 6,421 40,451 46,872 Income tax expense 62,353 14,013 76,366 Net Income (loss) (224,439 ) 10,137 (214,302 ) (a) Net revenues include total revenues net of interest credited to policyholder liabilities. The following tables represent select Balance Sheet information at December 31: Total Assets Total 2015 Annuity $ 6,396,511 $ 609,363 Life Insurance 2,769,424 1,096,829 Total $ 9,165,935 $ 1,706,192 2014 Annuity $ 7,181,270 $ 584,370 Life Insurance 2,988,805 1,138,164 Total $ 10,170,075 $ 1,722,534

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation	Basis of Presentation Transamerica Advisors Life Insurance Company (“TALIC” or the “Company”) is a wholly owned subsidiary of Transamerica Corporation which is an indirect wholly owned subsidiary of AEGON N.V., a limited liability share company organized under Dutch law. The Company was formerly a wholly owned subsidiary of AEGON USA, LLC which merged into Transamerica Corporation effective December 31, 2015. AEGON N.V. and its subsidiaries and joint ventures have life insurance and pension operations in over twenty countries in Europe, the Americas, and Asia and are also active in savings and investment operations, accident and health insurance, general insurance and limited banking operations in a number of these countries. The Company is a life insurance company, who conducts its business primarily in the annuity markets and to a lesser extent in the life insurance markets of the financial services industry. The Company is domiciled in the State of Arkansas and is currently licensed to sell insurance and annuities in forty-nine states, the District of Columbia, the U.S. Virgin Islands and Guam. Currently, the Company is not issuing new life insurance, variable annuity and market value adjusted annuity products. In 2012, the Company began selling a fixed contingent annuity (also sometimes referred to as a contingent deferred annuity (“CDA”)) that includes a stand-alone living benefit (“SALB”). A SALB is essentially a guaranteed lifetime withdrawal benefit which exists independently and is applied to mutual funds and exchange traded funds. As of November 22, 2015, the Company no longer issues CDAs to new investors. Existing certificate owners of the CDA will not be affected and may continue to make subsequent contributions, as permitted by the terms of the CDA.
Basis of Reporting	Basis of Reporting The accompanying financial statements have been prepared in conformity with United States generally accepted accounting principles (“GAAP”). The Company also submits financial statements to insurance industry regulatory authorities, which are prepared on the basis of statutory accounting principles (“SAP”). The significant accounting policies and related judgments underlying the accompanying financial statements are summarized below. Income before taxes and net income for the year ended December 31, 2015 reflects a net increase of $3,400 reflecting prior period errors corrected during the year. These include three items that relate to the Company’s model validation initiatives: 1) a $3,700 correction relating to incorrect fee assumptions for revenue sharing, investment management, and fund facilitation fees for variable deferred annuity separate account funds reserve models; 2) a $300 correction relating to variable deferred annuity liabilities specifically implementation issues with Guaranteed Life Withdraw Benefits (“GLWB”) assumptions and incorrect inputs of a GLWB ratchet feature; and 3) an ($800) correction of an error identified in the implementation of the guaranteed minimum death benefit (“GMDB”) lapse assumption which applies to policies without Living Benefit Rider. In addition, a $200 correction was made to ceded reserves for the incorrect assumption that all treaties were monthly renewable term (MRT) when some treaties were actually yearly renewable term (YRT). Management has evaluated the errors and related corrections and concluded they were not material to any previously reported quarterly or annual financial statements or to the current year. Certain corrections have been made to prior period financial statements. In the Statements of Other Comprehensive Income, unrealized losses of $5,818 and $1,888 for the year ended December 31, 2014 and 2013, respectively, were reclassified from “Change in previously recognized unrealized other-than-temporary impairments” to “Net unrealized holding gains arising during the period”. On the Statements of Income, “Reinsurance premium ceded” of $5,384 and $8,559 for the years ended December 31, 2014 and 2013, respectively, have been reclassified to “Policy charge revenue”. In the Balance Sheets, Income taxes, net has been reclassified into new financial statement line items titled “Income tax asset” and “Income tax liability” for $1,061 and $6,170, respectively, at December 31, 2014. In the Balance Sheets, reinsurance on guaranteed minimum income benefit riders (“GMIB reinsurance”), has been reclassified from “Future policy benefits” into a new financial statement line items titled “Recoverable of ceded GMIB embedded derivatives, at fair value” for $60,573, at December 31, 2014. There was no effect on net income, total other comprehensive income or stockholder’s equity of the prior period. Management has evaluated the errors and related corrections and concluded that they were not material to any previously reported quarterly or annual financial statements.
Accounting Estimates and Assumptions	Accounting Estimates and Assumptions The preparation of financial statements in conformity to GAAP requires management to make estimates and assumptions affecting the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities. Those estimates are inherently subject to change and actual results could differ from those estimates. Included among the material (or potentially material) reported amounts and disclosures that require extensive use of estimates are: fair value of certain invested assets, asset valuation allowances, deferred policy acquisition costs, deferred sales inducements, value of business acquired, goodwill, policyholder liabilities, income taxes, and potential effects of unresolved litigated matters.
Investments	Investments Fixed maturity and equity securities The Company’s investments consist principally of fixed maturity and equity securities that are classified as available-for-sale (“AFS”) which are reported at estimated fair value. The fair values of fixed maturity and equity securities are determined by management after taking into consideration several sources of data. When available, the Company uses quoted market prices in active markets to determine the fair value of its investments. The Company’s valuation policy utilizes a pricing hierarchy that dictates that publicly available prices are initially sought from indices and third-party pricing services. In the event that pricing is not available from these sources, those securities are submitted to brokers to obtain quotes. If broker quotes are not available, securities are priced using internal cash flow modeling techniques. These valuation methodologies commonly use reported trades, bids, offers, issuer spreads, benchmark yields, estimated prepayment speeds, and/or estimated cash flows. To understand the valuation methodologies used by third-party pricing services, the Company reviews and monitors their applicable methodology documents. Any changes to their methodologies are noted and reviewed for reasonableness. In addition, the Company performs periodic in-depth reviews of prices received from third-party pricing services. The objective for such reviews is to demonstrate that the Company can corroborate detailed information such as assumptions, inputs and methodologies used in pricing individual securities against documented pricing methodologies. Only third-party pricing services and brokers with a substantial presence in the market and with appropriate experience and expertise are used. Each month, the Company performs an analysis of the information obtained from third-party services and brokers to ensure that the information is reasonable and produces a reasonable estimate of fair value. The Company considers both qualitative and quantitative factors as part of this analysis, including but not limited to, recent transactional activity for similar fixed maturities, review of pricing statistics and trends, and consideration of recent relevant market events. Other controls and procedures over pricing received from indices, third-party pricing services, or brokers include validation checks such as exception reports that highlight significant price changes, stale prices or un-priced securities. Additionally, the Company performs back testing on a sample basis. Back testing involves selecting a sample of securities trades and comparing the prices in those transactions to prices used for financial reporting. Significant variances between the price used for financial reporting and the transaction price are investigated to explain the cause of the difference. The Company’s portfolio of private placement securities is valued using a matrix pricing methodology. The pricing methodology is obtained from a third party service and indicates current spreads for securities based on weighted average life, credit rating and industry sector. Monthly, the Company reviews the matrix to ensure the spreads are reasonable by comparing them to observed spreads for similar securities traded in the market. In order to account for the illiquid nature of these securities, illiquidity premiums are included in the valuation and are determined based upon the pricing of recent transactions in the private placement market, as well as by comparing the value of the privately offered security to a similar public security. The impact of the illiquidity premium to the overall valuation was 2% of the fair value at December 31, 2015 and 2014, respectively. For fixed maturity securities, premiums are amortized to the earlier of the call or maturity date, discounts are accreted to the maturity date, and interest income is accrued daily. For equity securities, dividends are recognized on the ex-dividend date. Investment transactions are recorded on the trade date. Realized gains and losses on the sale or maturity of investments are determined on the basis of specific identification. Changes in the fair value of fixed maturity and equity securities deemed to be AFS securities are reported as a component of accumulated other comprehensive income (loss), net of taxes on the Balance Sheets and are not reflected in the Statements of Income until a sale transaction occurs or when credit-related declines in estimated fair value are deemed other-than-temporary. Other-than-temporary impairments (“OTTI”) The Company regularly reviews each investment in its fixed maturity and equity AFS securities portfolio to evaluate the necessity of recording impairment losses for other-than-temporary declines in the fair value of investments. Management makes this determination through a series of discussions with the Company’s portfolio managers and credit analysts, and review of information obtained from external sources (i.e., company announcements, ratings agency announcements, or news wire releases). For fixed maturity AFS securities, the Company also considers whether it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The factors that may give rise to a potential OTTI include, but are not limited to, 1) certain credit-related events such as default of principal or interest payments by the issuer, 2) bankruptcy of issuer, 3) certain security restructurings, and iv) fair market value less than cost or amortized cost for an extended period of time. In the absence of a readily ascertainable market value, the estimated fair value on these securities represents management’s best estimate and is based on comparable securities and other assumptions as appropriate. Management bases this determination on the most recent information available. For equity securities, once management determines a decline in the value of an AFS security is other-than-temporary, the cost basis of the equity security is reduced to its fair value, with a corresponding charge to earnings. For fixed maturity AFS securities, an OTTI must be recognized in earnings when an entity either 1) has the intent to sell the debt security or 2) is more likely than not to be required to sell the debt security before its anticipated recovery. If the Company meets either of these criteria, the OTTI is recognized in earnings in an amount equal to the entire difference between the security’s amortized cost basis and its fair value at the balance sheet date. For fixed maturity AFS securities in unrealized loss positions that do not meet these criteria, the Company must analyze 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. If the net present value is less than the amortized cost of the investment, an OTTI is recorded. The OTTI is separated into two pieces: an amount representing the credit loss, where the present value of cash flows expected to be collected is less than the amortized cost basis of the security, and an amount related to all other factors (referred to as the non credit portion). The credit loss is recognized in earnings and the non credit loss is recognized in other comprehensive income (“OCI”), net of applicable taxes and value of business acquired. Management records subsequent changes in the estimated fair value (positive and negative) of fixed maturity AFS securities for which non credit OTTI was previously recognized in OCI in OCI-OTTI. Limited partnerships At December 31, 2015 and 2014, the Company had investments in two limited partnerships that were not publicly traded. Both partnerships are carried at estimated fair value determined for which one is derived from management’s review of the underlying financial statements that were prepared on a GAAP basis and the other from which management is able to determine that observable market inputs have been used. The valuation utilizing the underlying financial statements is on a one quarter lag. Mortgage Loans on Real Estate Mortgage loans on real estate are carried at unpaid principal balances adjusted for amortization of premiums and accretion of discounts and are net of valuation allowances and general reserves. The fair value of mortgage loans on real estate is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and/or similar remaining maturities. Interest income is accrued on the principal balance of the loan based on the loan’s contractual interest rate. Premiums and discounts are amortized using the effective yield method over the life of the loan. Interest income and amortization of premiums and discounts are reported in net investment income along with mortgage loan fees, which are recorded as they are incurred. Loans are considered impaired when it is probable that based upon current information and events, the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. When the Company determines that a loan is impaired, a valuation allowance is established for the excess carrying value of the loan over its estimated collateral value. Changing economic conditions impact the Company’s valuation of mortgage loans. Changing vacancies and rents are incorporated into the discounted cash flow analysis that the Company performs for monitored loans and may contribute to the establishment of (or an increase or decrease in) an allowance for losses. In addition, the Company continues to monitor the entire commercial mortgage loan portfolio to identify risk. Areas of emphasis are properties that have deteriorating credits or have experienced debt coverage reduction. Where warranted, the Company has established or increased loss reserves based upon this analysis. The Company does not accrue interest on loans ninety days past due. The Company also establishes a general reserve which is calculated by applying a percentage, based on risk rating and maturity, to the outstanding loan balance. Policy loans Policy loans on insurance contracts are stated at unpaid principal balances. Due to the collateralized nature of policy loans, the Company believes that the fair value of policy loans approximates book value. Policy loans are funds provided to policy holders in return for a claim on the policy. The funds provided are limited to the cash surrender value of the underlying policy. Policy loans have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Derivatives and Hedge Accounting Derivatives are primarily used by the Company to manage risk associated with interest rate or equity market risk or volatility. Freestanding derivatives are carried in the Balance Sheets at fair value. If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the fair value of the derivatives are reported in net derivative gains (losses) in the Statements of Income. To qualify for hedge accounting, the hedge relationship is designated and formally documented at inception, detailing the particular risk management objective and strategy for the hedge (which includes the item and risk that is being hedged), the derivative that is being used and how hedge effectiveness is being assessed. For hedge accounting purposes, a distinction is made between fair value hedges, cash flow hedges and hedges of a net investment in a foreign operation. Currently and during the periods covered by the accompanying financial statements, the Company only has had cash flow hedges. A cash flow hedge is the hedge of the exposure to variability of cash flows to be received or paid related to a recognized asset or liability. For derivatives that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of OCI and reclassified into the Statements of Income when the Company’s earnings are affected by the variability of the hedged item. Any hedge ineffectiveness is recognized as a component of net derivative gains (losses) in the Statements of Income.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and on deposit and short-term investments with original maturities of three months or less. Cash and cash equivalents are primarily valued at amortized cost, which approximates fair value.
Checks Not Yet Presented for Payment	Checks Not Yet Presented for Payment The Company’s checks not yet presented for payment consists of checks written that have not yet cleared the Company’s bank accounts. The majority of the Company’s bank accounts are zero balance accounts that are funded at the time items clear against the account; therefore, the outstanding checks represent immediately payable liabilities. Because the recipients of these checks have generally not yet received payment, the Company classifies the outstanding checks as a liability. Checks not yet presented for payment are classified in the cash flows from operating activities section of the Company’s Statement of Cash Flows.
Securities Lending	Securities Lending Financial assets that are lent to a third party or that are transferred subject to a repurchase agreement at a fixed price are not derecognized as the Company retains substantially all the risks and rewards of asset ownership. The loaned securities are included in fixed maturity AFS securities in the Balance Sheets. A liability is recognized for cash collateral received, required initially at 102%, on which interest is accrued. If the fair value of the collateral is at any time less than 102% of the fair value of the loaned securities, the counterparty is mandated to deliver additional collateral, the fair value of which, together with the collateral already held in connection with the lending transaction, is at least equal to 102% of the fair value of the loaned securities.
Reverse Repurchase Agreements	Reverse Repurchase Agreements The Company enters into dollar roll repurchase agreement transactions whereby the Company takes delivery of pools of mortgage-backed securities (“MBS”) and sells them to counterparty along with an agreement to repurchase substantially the same pools at some point in the future, typically one month later. These transactions are accounted for as collateralized borrowings, and the repurchase agreement liability is included in the balance sheets in payables for collateral under securities loaned, reverse repurchase agreements, and derivatives. There is a risk that the MBS pools will not be delivered by the counterparty upon the maturity of the repurchase agreement. However, this risk is considered to be very low as the U.S. MBS market is well-established, deep, and liquid for securities that the counterparty can utilize to source pools required to satisfy its obligation. Counterparties for MBS pools must pass internal credit underwriting standards prior to initiating repurchase agreement transactions. In addition, each month the value of the cash collateral is reset based on the change in the fair value of the MBS, thereby minimizing the amount of counterparty exposure.
Value of Business Acquired	VOBA VOBA reflects the estimated fair value of in force contracts acquired and represents the portion of the purchase price that is allocated to the value of the right to receive future cash flows from the insurance and annuity contracts in force at the acquisition date. VOBA is based on actuarially determined projections, for each block of business, of future policy and contract charges, premiums, mortality, policyholder behavior, Separate Account performance, operating expenses, investment returns, and other factors. Actual experience on the purchased business may vary from these projections. If estimated gross profits or premiums differ from expectations, the amortization of VOBA is adjusted to reflect actual experience. The long-term growth rate assumption for the amortization of VOBA was 8% at December 31, 2015 and 2014. For acquired annuity and variable life insurance contracts, VOBA is amortized in proportion to estimated gross profits arising principally from investment margins, mortality and expense margins, rider margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. Revisions in estimates result in changes to the amounts amortized in the reporting period in which the revisions are made and could result in the impairment of the asset and a charge to income if estimated future gross profits are less than the unamortized balance. See Note 4 to the financial statements for further discussion.
Deferred Policy Acquisition Costs	DAC The costs of acquiring business, principally commissions, certain expenses related to policy issuance, and certain variable sales expenses that relate to and vary with the production of new and renewal business are deferred and amortized based on the estimated future gross profits for the group of acquired contracts. DAC are subject to recoverability testing at the time of the policy issuance and loss recognition testing at the end of each reporting period. DAC for variable annuities is amortized with interest over the anticipated lives of the insurance contracts in relation to the present values of estimated future gross profits from asset-based fees, guaranteed benefit rider fees, contract fees, and surrender charges, less a provision for guaranteed death and living benefit expenses, policy maintenance expenses, and non-capitalized commissions. The long-term equity growth rate assumption for the amortization of DAC was 8% at December 31, 2015 and 2014. Future gross profit estimates are subject to periodic evaluation with necessary revisions applied against amortization to date. The impact of revisions and assumptions to estimates on cumulative amortization is recorded as a charge or credit to current operations, commonly referred to as “unlocking”. Changes in assumptions can have a significant impact on the amount of DAC reported and the related amortization patterns. In general, increases in the estimated Separate Accounts return and decreases in surrender or mortality assumptions increase the expected future profitability of the underlying business and may lower the rate of DAC amortization. Conversely, decreases in the estimated Separate Accounts returns and increases in surrender or mortality assumptions reduce the expected future profitability of the underlying business and may increase the rate of DAC amortization. At December 31, 2015 and 2014, variable annuities accounted for the Company’s entire DAC asset. See Note 4 to the Financial Statements for further discussion.
Deferred Sales Inducements	DSI The Company offers a sales inducement whereby the contract owner receives a bonus that increases the initial account balance by an amount equal to a specified percentage of the contract owner’s deposit. This amount may be subject to recapture under certain circumstances. Consistent with DAC, sales inducements for variable annuity contracts are deferred and amortized based on the estimated future gross profits for each group of contracts. The long-term equity growth rate assumption for the amortization of DSI was 8% at December 31, 2015 and 2014. These future gross profit estimates are subject to periodic evaluation by the Company, with necessary revisions applied against amortization to date. The impact of these revisions on cumulative amortization is recorded as a charge or credit to current operations, commonly referred to as “unlocking”. It is reasonably possible that estimates of future gross profits could be reduced in the future, resulting in a material reduction in the carrying amount of the DSI asset. The expense and the subsequent capitalization and amortization (accretion) are recorded as a component of policy benefits in the Statements of Income. At December 31, 2015 and 2014, variable annuities accounted for the Company’s entire DSI asset. See Note 4 to the Financial Statements for further discussion.
Goodwill	Goodwill Goodwill is the excess of the purchase price over the estimated fair value of net assets acquired. Goodwill and intangible assets with indefinite lives are not amortized, but are subject to impairment tests conducted at least annually. Impairment testing is performed using the fair value approach, which requires the use of estimates and judgment, at the “reporting unit” level. A reporting unit represents the operating segment which is the level at which the financial information is prepared and regularly reviewed by management. The entire asset amount has been allocated to annuities. Goodwill is reviewed for indications of value impairment, with consideration given to financial performance and other relevant factors. In addition, certain events including a significant adverse change in legal factors or the business climate, an adverse action or assessment by a regulator, or unanticipated competition would cause the Company to review the carrying amounts of goodwill for impairment. When considered impaired, the carrying amounts are written down to fair value based primarily on discounted cash flows. The Company performed annual tests of goodwill at December 31, 2015, 2014, and 2013 and determined there was no impairment of goodwill because the fair value of the goodwill was substantially in excess of its carrying amount.
Separate Accounts	Separate Accounts The Company’s Separate Accounts consist of variable annuities and variable life insurance contracts, of which the assets and liabilities are legally segregated and reported as separate captions in the Balance Sheets. Separate Accounts are established in conformity with Arkansas State Insurance Law and are generally not chargeable with liabilities that arise from any other business of the Company. Separate Accounts assets may be subject to claims of the Company only to the extent the value of such assets exceeds Separate Accounts liabilities. The assets of the Separate Accounts are carried at the daily net asset value of the mutual funds in which they invest. Absent any contract provision wherein the Company guarantees either a minimum return or account value upon death or annuitization, the net investment income and net realized and unrealized gains and losses attributable to Separate Accounts assets supporting variable annuities and variable life insurance contracts accrue directly to the contract owner and are not reported as revenue in the Statements of Income. Mortality, guaranteed benefit fees, policy administration, maintenance, and withdrawal charges associated with Separate Accounts products are included in policy charge revenue in the Statements of Income.
Policyholder Account Balances	Policyholder Account Balances The Company’s liability for policyholder account balances represents the contract value that has accrued to the benefit of the policyholder as of the Balance Sheet dates. The liability is generally equal to the accumulated account deposits plus interest credited less policyholders’ withdrawals and other charges assessed against the account balance. Interest-crediting rates for the Company’s fixed rate products are as follows: 2015 2014 Interest-sensitive life products 4.00% 4.00% Interest-sensitive deferred annuities 0.25% - 4.90% 0.25% - 4.90% These rates may be changed at the option of the Company after initial guaranteed rates expire, unless contracts are subject to minimum interest rate guarantees.
Future Policy Benefits	Future Policy Benefits The Company’s liability for future policy benefits consists of liabilities for immediate annuities and liabilities for certain guaranteed benefits contained in the variable insurance products the Company manufactures. Liabilities for immediate annuities are equal to the present value of estimated future payments to or on behalf of policyholders, where the timing and amount of payment generally depends on policyholder mortality. Interest rates used in establishing such liabilities were in the range of 0.01% to 8.8% during 2015 and 2014. See Note 5 to the Financial Statements for further discussion.
Revenue Recognition	Revenue Recognition Revenues for variable annuity contracts consist of policy charges for i) mortality and expense risks, ii) certain guaranteed benefits selected by the contract owner, iii) administration fees, iv) annual contract maintenance charges, and v) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for variable annuity contracts are recognized when policy charges are assessed or earned. Revenues for variable life insurance contracts consist of policy charges for i) mortality and expense risks, ii) cost of insurance fees, iii) amortization of front-end and deferred sales charges, and iv) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for variable life insurance contracts are recognized when policy charges are assessed or earned. Revenues for interest-sensitive annuity contracts (market value adjusted annuities, immediate annuities, and single premium deferred annuities) and interest-sensitive life insurance contracts (single premium whole life insurance) consist of i) investment income, ii) gains (losses) on the sale of invested assets, and iii) withdrawal charges assessed on contracts surrendered during the withdrawal charge period. Revenues for interest-sensitive annuity and life insurance contracts are recognized when investment income and investment sales are earned while revenues for contract charges are recognized when assessed or earned. Revenues for CDAs consist of fees assessed based on a percentage of the participants covered asset pool, which are assets that are not internally managed by the Company. Fees on CDAs are recognized as they are assessed or earned.
Claims and Claims Settlement Expenses	Claims and Claims Settlement Expenses Liabilities for claims and claims settlement expenses equal the death benefit (plus accrued interest) for claims that have been reported to the Company but have not settled and an estimate, based upon prior experience, for unreported claims.
Income Taxes	Income Taxes The Company provides for income taxes on all transactions that have been recognized in the financial statements in accordance with GAAP guidance . The Company is subject to taxes on premiums and is exempt from state income taxes in most states.
Subsequent Events	Subsequent Events The financial statements are adjusted to reflect events that occurred between the balance sheet date and the date when the financial statements are issued, provided they give evidence of conditions that existed at the balance sheet date. No subsequent events have been identified through April 14, 2016. Events that are indicative of conditions that arose after the balance sheet date are disclosed, but do not result in an adjustment of the financial statements themselves.
Current Accounting Guidance	Current Accounting Guidance Accounting Standards Codification (“ASC”) 860, Transfers and Servicing In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures
Future Accounting Guidance	Future Accounting Guidance ASC 825, Financial Instruments – Overall In January 2016, FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ASC 740, Income Taxes In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes ASC 205, Presentation of Financial Statements In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ASC 606, Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers: Topic 606 Deferral of the Effective Date

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Interest-Crediting Rates for Fixed Rate Products	Interest-crediting rates for the Company’s fixed rate products are as follows: 2015 2014 Interest-sensitive life products 4.00% 4.00% Interest-sensitive deferred annuities 0.25% - 4.90% 0.25% - 4.90%

Fair Value of Financial Instr24

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis: December 31, 2015 Level 1 Level 2 Level 3 Total Assets Fixed maturity available-for-sale (“AFS”) securities (a) Corporate securities $ - $ 1,016,792 $ - $ 1,016,792 Asset-backed securities - 115,988 6,666 122,654 Commercial mortgage-backed securities - 71,683 - 71,683 Residential mortgage-backed securities - 59,265 - 59,265 Municipals - 807 - 807 Government and government agencies United States 386,288 - - 386,288 Foreign 1,499 6,349 - 7,848 Total fixed maturity AFS securities (a) 387,787 1,270,884 6,666 1,665,337 Equity securities (a) Banking securities - 28,673 - 28,673 Industrial securities - 5,994 - 5,994 Total equity securities (a) - 34,667 - 34,667 Cash equivalents (b) - 234,500 - 234,500 Derivative assets (c) - 10,893 - 10,893 Limited partnerships (d) - 61,373 2,116 63,489 Recoverable of ceded GMIB embedded derivatives (e) - - 61,426 61,426 Separate Accounts assets (f) 5,940,665 - - 5,940,665 Total assets $ 6,328,452 $ 1,612,317 $ 70,208 $ 8,010,977 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 61,129 $ 61,129 Derivative liabilities (c) - 13,075 - 13,075 Total liabilities $ - $ 13,075 $ 61,129 $ 74,204 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Fixed maturity AFS securities (a) Corporate securities $ - $ 1,177,409 $ - $ 1,177,409 Asset-backed securities - 124,686 8,474 133,160 Commercial mortgage-backed securities - 100,801 - 100,801 Residential mortgage-backed securities - 45,447 - 45,447 Municipals - 800 - 800 Government and government agencies United States 400,251 - - 400,251 Foreign 3,564 6,481 - 10,045 Total fixed maturity AFS securities (a) 403,815 1,455,624 8,474 1,867,913 Equity securities (a) Banking securities - 29,702 - 29,702 Industrial securities - 6,256 - 6,256 Total equity securities (a) - 35,958 - 35,958 Cash equivalents (b) - 232,509 - 232,509 Derivative assets (c) - 1,055 - 1,055 Limited partnerships (d) - 60,432 4,086 64,518 Recoverable of ceded GMIB embedded derivatives (e) - - 60,573 60,573 Separate Accounts assets (f) 6,771,369 - - 6,771,369 Total assets $ 7,175,184 $ 1,785,578 $ 73,133 $ 9,033,895 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 61,206 $ 61,206 Derivative liabilities (c) - 18,744 - 18,744 Total liabilities $ - $ 18,744 $ 61,206 $ 79,950 (a) Securities are classified as Level 1 if the fair value is determined by observable inputs that reflect quoted prices for identical assets in active markets that the Company has the ability to access at the measurement date. Level 1 securities primarily include highly liquid U.S. Treasury and U.S. government agency securities. Securities are classified as Level 2 if the fair value is determined by observable inputs, other than quoted prices included in Level 1, for the asset or prices for similar assets. Securities are classified as Level 3 if the valuations are derived from techniques in which one or more of the significant inputs are unobservable. Level 3 consists principally of fixed maturity securities whose fair value is estimated based on non-binding broker quotes and internal models. These internal models primarily use projected cash flows discounted using relevant risk spreads and market interest rate curves. At December 31, 2015 there were no fixed maturity AFS securities valued using internal models. At December 31, 2014, less than 0.5% of fixed maturity AFS securities were valued using internal models. (b) Cash equivalents are primarily valued at amortized cost, which approximates fair value. Operating cash is not included in the above table. (c) Level 2 derivatives include interest rate swaps, inflation swaps, variance swaps, total return swaps, and credit default swaps for which the Company utilized readily accessible quoted index levels and broker quotes. The fair value of interest rate swaps is calculated based on the change in the underlying floating rate curve (LIBOR) at the reporting date, as compared to the fixed leg of the swap. The fair value for inflation swaps is calculated as the difference between the consumer price index (or related readily accessible quoted inflation index level) at the reporting date from the last reset date, multiplied by the notional value of the swap. The fair value for the variance swaps is calculated as the difference between the estimated volatility of the underlying Standard and Poor’s 500 Composite Stock Price Index (“S&P”) at maturity to the actual volatility of the underlying S&P index at initiation (i.e., strike) multiplied by the notional value of the swap. Total return swaps are valued based on the change in the underlying equity index as of the last reset date. Credit default swaps are valued using a discounted cash flow model where future premium payments and protection payments are corrected for the probability of default which is modeled using an arbitrage free credit spread model. (d) Limited partnership investments in which management is able to determine that observable market inputs have been used and can be redeemed at the net asset value in 90 days or less are considered Level 2. The Company has an investment in a limited partnership for which the fair value is derived from management’s review of the financial information obtained from the private equity fund prepared on a GAAP basis and is considered a Level 3 measurement. The valuation utilizing these financial statements is on a one quarter lag. (e) GMIB reinsurance is treated as embedded derivatives and is reported as recoverable of ceded GMIB embedded derivatives, at fair value in Balance Sheets. (f) Separate Accounts assets are carried at the net asset value provided by the fund managers. (g) The Company issued contracts containing guaranteed minimum withdrawal benefit riders (“GMWB”) and obtained GMIB reinsurance. GMWB and GMIB reinsurance are treated as embedded derivatives and are required to be reported separately from the host contract. In addition, the Company issues SALB contracts which are required to be reported at fair value. The fair value of these guarantees is calculated as the present value of future expected payments to policyholders less the present value of assessed fees attributable to the guarantees. Given the complexity and long-term nature of these guarantees, their fair values are determined using stochastic techniques under a variety of market return, discount rates and actuarial assumptions. Since many of the 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 of the fair value hierarchy.
Summary of Change in Fair Value of Level 3 Assets	The following table provides a summary of the change in fair value of the Company’s Level 3 assets at December 31, 2015 and 2014: Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Limited Fixed Securities Limited Partnership Fixed Maturity AFS Securities Balance at beginning of period (a) $ 4,086 $ 8,474 $ 5,044 $ 6,428 Change in unrealized losses (b) - (376 ) - (72 ) Purchases - 1,999 - - Sales (252 ) (126 ) (962 ) (30 ) Transfers into Level 3 - 2,049 - 3,744 Transfers out of Level 3 - (5,354 ) - (1,596 ) Changes in valuation (c) (1,718 ) - 4 - Balance at end of period (a) $ 2,116 $ 6,666 $ 4,086 $ 8,474 (a) Recorded as a component of limited partnerships and fixed maturity AFS in the Balance Sheets. (b) Recorded as a component of Other Comprehensive Income (Loss) in net unrealized holding gains (Losses) on AFS securities arising during the period. (c) Recorded as a component of net investment income in the Statements of Income.
Summary of Changes in Fair Value of Level 3 Liabilities (Assets)	The following table provides a summary of the changes in fair value of the Company’s Level 3 liabilities (assets) at December 31, 2015 and 2014: Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 GMWB GMIB Reinsurance SALB GMWB GMIB Reinsurance SALB Balance at beginning of period (a) $ 60,702 $ (60,573 ) $ 504 $ 21,776 $ (39,345 ) $ 41 Changes in interest rates (b) (1,890 ) 979 - 30,760 (26,759 ) - Changes in equity markets (b) 9,182 (1,976 ) 7 762 2,330 463 Other (b) (7,376 ) 144 - 7,404 3,201 - Balance at end of period (a) $ 60,618 $ (61,426 ) $ 511 $ 60,702 $ (60,573 ) $ 504 (a) GMWB and SALB are recorded as a component of future policy benefits in the Balance Sheets and GMIB reinsurance is recorded as recoverable of ceded GMIB embeded derivatives, at fair value in the Balance Sheets. (b) Recorded as a component of policy benefits in the Statements of Income.
Summary of Quantitative Inputs and Assumptions Related to Level 3 Assets and Liabilities	The following table provides a summary of the quantitative inputs and assumptions of the Company’s Level 3 assets and liabilities at December 31, 2015 and 2014: Description December 31, Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities $ 6,666 Broker See comment below (a) See comment below (a) Total fixed maturity securities 6,666 Limited partnership 2,116 Not applicable (a) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 61,426 Discounted cash flows Own credit risk 40 bps Long-term volatility 25% Total assets $ 70,208 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 60,618 Discounted cash flows Own credit risk 40 bps Long-term volatility 25% Future policy benefits - SALB 511 See comment below (b) See comment below (b) See comment below (b) Total liabilities $ 61,129 Description December 31, Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities $ 8,474 Broker See comment below (a) See comment below (a) Total fixed maturity securities 8,474 Limited partnership 4,086 Not applicable (b) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 60,573 Discounted cash flows Own credit risk 30 bps Long-term volatility 25% Total assets $ 73,133 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 60,702 Discounted cash flows Own credit risk 30 bps Long-term volatility 25% Future policy benefits - SALB 504 See comment below (c) See comment below (c) See comment below (c) Total liabilities $ 61,206 (a) The Company has obtained non-binding broker quotes that cannot be corroborated by market observable data, to assist in determining fair value of the level 3 asset-back securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and an asset specialist review of the broker price. (b) The Company has an investment in a limited partnership for which the fair value is derived from management’s review of the underlying financial statements that were prepared on a GAAP basis. Management did not make any adjustments to the valuation from the underlying financial statements. As a result, inputs are not developed by management to determine the fair value measurement for this investment. (c) The SALB is a product with fewer than 150 policies. Due to the small size of this block the liability was determined based on fees earned.
Estimated Fair Value of Assets Not Carried at Fair Value on Balance Sheets	The following table provides the estimated fair value of the Company’s assets not carried at fair value on the Balance Sheets at December 31, 2015 and 2014: December 31, 2015 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 92,923 $ 92,923 Policy loans (b) - 661,466 - 661,466 Total assets $ - $ 661,466 $ 92,923 $ 754,389 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 71,433 $ 71,433 Policy loans (b) - 681,071 - 681,071 Total assets $ - $ 681,071 $ 71,433 $ 752,504 (a) The fair value of mortgage loans on real estate is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and/or remaining maturities. (b) Policy loans are stated at unpaid principal balance. The fair value of policy loans approximates book value.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Amortized Cost/Cost and Estimated Fair Value of Investments in Fixed Maturity and Equity Available-for-Sale Securities	The amortized cost/cost and estimated fair value of investments in fixed maturity and equity AFS securities at December 31, 2015 and 2014 were: December 31, 2015 Amortized Gross Unrealized Estimated OTTI in AOCI (a) Gains Losses Fair Value Fixed maturity AFS securities Corporate securities $ 977,900 $ 57,648 $ (18,756 ) $ 1,016,792 $ - Asset-backed securities 118,993 4,140 (479 ) 122,654 (42) Commercial mortgage-backed securities 70,083 1,904 (304 ) 71,683 - Residential mortgage-backed securities 56,527 2,819 (81 ) 59,265 - Municipals 913 - (106 ) 807 - Government and government agencies United States 339,686 46,634 (32 ) 386,288 - Foreign 6,591 1,257 - 7,848 - Total fixed maturity AFS securities $ 1,570,693 $ 114,402 $ (19,758 ) $ 1,665,337 $ (42) Equity securities Banking securities $ 27,986 $ 1,769 $ (1,082 ) $ 28,673 $ - Industrial securities 5,791 203 - 5,994 - Total equity securities $ 33,777 $ 1,972 $ (1,082 ) $ 34,667 $ - December 31, 2014 Gross Unrealized Estimated Amortized Gains Losses Fair Value OTTI (a) Fixed maturity AFS securities Corporate securities $ 1,095,082 $ 89,852 $ (7,525 ) $ 1,177,409 $ - Asset-backed securities 127,803 5,743 (386 ) 133,160 (97) Commercial mortgage-backed securities 96,594 4,341 (134 ) 100,801 - Residential mortgage-backed securities 42,205 3,244 (2 ) 45,447 - Municipals 916 - (116 ) 800 - Government and government agencies United States 334,448 65,805 (2 ) 400,251 - Foreign 8,673 1,372 - 10,045 - Total fixed maturity AFS securities $ 1,705,721 $ 170,357 $ (8,165 ) $ 1,867,913 $ (97) Equity securities Banking securities $ 28,137 $ 2,135 $ (570 ) $ 29,702 $ - Industrial securities 5,791 465 - 6,256 - Total equity securities $ 33,928 $ 2,600 $ (570 ) $ 35,958 $ - (a) Represents OTTI in AOCI, which were not included in earnings. Amount excludes $2,515 and $3,202 of unrealized gains at December 31, 2015 and 2014, respectively.
Amortized Cost and Estimated Fair Value of Fixed Maturity Available-for-Sale Securities by Investment Grade	The amortized cost and estimated fair value of fixed maturity AFS securities by investment grade at December 31, 2015 and 2014 were: December 31, 2015 December 31, 2014 Amortized Estimated Value Amortized Estimated Value Investment grade $ 1,467,677 $ 1,565,053 $ 1,615,944 $ 1,776,153 Below investment grade 103,016 100,284 89,777 91,760 Total fixed maturity AFS securities $ 1,570,693 $ 1,665,337 $ 1,705,721 $ 1,867,913
Amortized Cost and Estimated Fair Value of Fixed Maturity Available-for-Sale Securities by Contractual Maturities	The amortized cost and estimated fair value of fixed maturity AFS securities at December 31, 2015 and 2014 by contractual maturities were: December 31, 2015 December 31, 2014 Amortized Estimated Value Amortized Estimated Value Fixed maturity AFS securities Due in one year or less $ 64,114 $ 65,086 $ 61,405 $ 62,356 Due after one year through five years 564,707 599,965 480,098 514,063 Due after five years through ten years 230,858 230,815 453,522 481,957 Due after ten years 465,410 515,868 444,094 530,129 1,325,089 1,411,734 1,439,119 1,588,505 Mortgage-backed securities and other asset-backed securities 245,604 253,603 266,602 279,408 Total fixed maturity AFS securities $ 1,570,693 $ 1,665,337 $ 1,705,721 $ 1,867,913
Estimated Fair Value and Gross Unrealized Losses and Other-Than-Temporary Impairments of Fixed Maturity and Equity Available-for-Sale Securities in Continuous Unrealized Loss Position	The estimated fair value and gross unrealized losses and OTTI related to fixed maturity and equity AFS securities aggregated by length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015 and 2014 were as follows: December 31, 2015 Estimated Amortized Gross (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 130,718 $ 139,846 $ (9,128 ) Asset-backed securities 59,051 59,312 (261 ) Commercial mortgage-backed securities 17,185 17,450 (265 ) Residential mortgage-backed securities 3,896 3,966 (70 ) Government and government agencies - United States 18,484 18,516 (32 ) Total fixed maturity and equity securities 229,334 239,090 (9,756 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities 27,872 30,597 (2,725 ) Asset-backed securities 455 463 (8 ) Commercial mortgage-backed securities 988 1,028 (40 ) Residential mortgage-backed securities 1,020 1,030 (10 ) Total fixed maturity and equity securities 30,335 33,118 (2,783 ) Greater than one year Fixed maturity AFS securities Corporate securities 8,628 15,531 (6,903 ) Asset-backed securities 4,788 4,999 (211 ) Residential mortgage-backed securities 39 40 (1 ) Municipals 808 912 (104 ) Equity securities - banking securities 9,214 10,296 (1,082 ) Total fixed maturity and equity securities 23,477 31,778 (8,301 ) Total fixed maturity and equity securities $ 283,146 $ 303,986 $ (20,840 ) December 31, 2014 Estimated Amortized Gross (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 60,583 $ 64,799 $ (4,216 ) Asset-backed securities 70,078 70,188 (110 ) Commercial mortgage-backed securities 528 529 (1 ) Government and government agencies - United States 9,310 9,312 (2 ) Equity securities - banking securities 8,050 8,500 (450 ) Total fixed maturity and equity securities 148,549 153,328 (4,779 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities 3,363 3,783 (420 ) Residential mortgage-backed securities 9 9 - Total fixed maturity and equity securities 3,372 3,792 (420 ) Greater than one year Fixed maturity AFS securities Corporate securities 44,656 47,545 (2,889 ) Asset-backed securities 6,721 6,997 (276 ) Commercial mortgage-backed securities 8,504 8,637 (133 ) Residential mortgage-backed securities 59 61 (2 ) Municipals 800 916 (116 ) Equity securities - banking securities 1,676 1,796 (120 ) Total fixed maturity and equity securities 62,416 65,952 (3,536 ) Total fixed maturity and equity securities $ 214,337 $ 223,072 $ (8,735 ) (a) Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI.
Components of Net Unrealized Gains (Losses) and Other-Than-Temporary Impairments Included in Accumulated Other Comprehensive Income, Net of Taxes	The components of net unrealized gains (losses) and OTTI included in accumulated other comprehensive income (loss), net of taxes, at December 31, 2015 and 2014 were as follows: December 31, 2015 2014 Assets Fixed maturity securities $ 94,644 $ 162,192 Equity securities 890 2,030 Cash flow hedges 4,202 2,296 Value of business acquired (21,812 ) (35,943 ) 77,924 130,575 Liabilities Income taxes - deferred (21,333 ) (21,333 ) (21,333 ) (21,333 ) Stockholder’s equity Accumulated other comprehensive income, net of taxes $ 56,591 $ 109,242
Change in Credit Loss Allowances on Mortgage Loans by Type of Property	The change in the credit loss allowances on mortgage loans by type of property for the years ended at December 31 was as follows: December 31, Commercial 2015 2014 Balance at beginning of period $ 36 $ 27 Provision 42 9 Balance at end of period $ 78 $ 36
Credit Quality of Mortgage Loans by Type of Property	The credit quality of mortgage loans by type of property at December 31 was as follows: December 31, Commercial 2015 2014 AAA - AA $ 31,835 $ 21,378 A 49,084 45,325 BBB 9,090 - BBB - BB 2,983 - Total mortgage loans on real estate 92,992 66,703 Less: reserves (78 ) (36 ) Total mortgage loans on real estate, net $ 92,914 $ 66,667
Collateral Maturities of Reverse Repurchase Agreements and Securities Lending Transactions	The following table provides a summary of collateral maturities of reverse repurchase agreements and securities lending transactions at December 31: December 31, 2015 Overnight and Up to 30 days Total Reverse repurchase agreements U.S. Treasury and agency securities - - - Residential mortgage-backed securities $ - $ - $ - Total - - - Securities lending transactions U.S. Treasury and agency securities 155,586 - 155,586 Corporate securities 19,786 - 19,786 Equity securities - banking 13,317 - 13,317 Total 188,689 - 188,689 Total Borrowings $ 188,689 $ - $ 188,689 Gross amount of recognized liabilities for repurchase agreements and securities lending in balance sheets $ 194,537
Notional and Fair Value for Hedging Instruments	The following table presents the notional and fair value for hedging instruments as of December 31, 2015 and 2014: Notional Fair Value December 31, December 31, Derivative Type 2015 2014 2015 2014 Non-qualifying hedges Short futures $ 47,221 $ 49,873 $ - $ - Long futures 51,573 - - - Interest rate swaps 192,000 - (2,228 ) - Variance swaps 675 1,059 (1,525 ) (3,243 ) Total return swaps 1,315,900 852,910 (1,429 ) (17,941 ) Options 587,046 - 11,055 - Credit default swaps 210,000 170,000 65 2,017 Total non-qualifying hedges 2,404,415 1,073,842 5,938 (19,167 ) Cash flow hedges Interest rate swaps 49,884 49,884 3,285 1,478 Total cash flow hedges 49,884 49,884 3,285 1,478 Derivative Total $ 2,454,299 $ 1,123,726 $ 9,223 $ (17,689 )
Net Derivative Gains (Losses) Recognized in Statements of Income	The following table presents the net derivative gains (losses) recognized in the Statements of Income: Net Derivative Gains (Losses) Recognized In Income December 31, Derivative Type 2015 2014 2013 Short futures $ (2,002 ) $ (7,819 ) $ (33,021 ) Long futures (1,029 ) - 41,073 Variance swaps (2,838 ) (5,118 ) (6,964 ) Total return swaps (36,481 ) (60,439 ) 26,941 Options (puts and calls) 7,650 - - Interest rate swaps (2,222 ) (77 ) (84 ) Equity Collar - - (287,845 ) Credit default swaps (535 ) (2,700 ) - Total $ (37,457 ) $ (76,153 ) $ (259,900 )
Maximum Potential Amount of Future Payments, Credit Rating and Maturity Dates for Credit Default Swaps	The following table presents the maximum potential amount of future payments, credit rating, and maturity dates for the credit default swaps at December 31, 2015 and 2014: Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type December 31, 2015 Credit default swaps Corporate debt $ 120,000 A June 2017 - December 2020 Sovereign debt 90,000 AA-A June 2017 - March 2020 Credit default swaps total $ 210,000 Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type December 31, 2014 Credit default swaps Corporate debt $ 100,000 A June 2017 - December 2020 Sovereign debt 70,000 A June 2017 - December Credit default swaps total $ 170,000
Components of Gain or Loss on Derivatives that Qualify as Cash Flow Hedges	The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges: Gain (Loss) Recognized in Net Realized Gains (Losses) Recognized in OCI on Derivative (Effective Portion) Income on Derivative (Ineffective Portion) December 31, December 31, 2015 2014 2013 2015 2014 2013 Interest rate swaps $ 1,906 $ 483 $ 1,813 $ 5 $ (77 ) $ (84 ) Total $ 1,906 $ 483 $ 1,813 $ 5 $ (77 ) $ (84 ) Gain (Loss) Reclassified from AOCI into Income (Effective Portion) December 31, Location 2015 2014 2013 Interest rate swaps Net investment income $ (99 ) $ (761 ) $ (57 ) Total $ (99 ) $ (761 ) $ (57 )
Offsetting Derivatives Assets	The following tables present the offsetting of derivative assets at December 31, 2015 and 2014: December 31, 2015 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Financial Cash Collateral Net Amount Derivatives $ 38,125 $ 27,232 $ 10,893 $ 8,158 $ - $ 2,735 Total $ 38,125 $ 27,232 $ 10,893 $ 8,158 $ - $ 2,735 December 31, 2014 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 5,467 $ 4,412 $ 1,055 $ - $ - $ 1,055 Total $ 5,467 $ 4,412 $ 1,055 $ - $ - $ 1,055
Offsetting Derivative Liabilities	The following tables present the offsetting of derivative liabilities at December 31, 2015 and 2014: December 31, 2015 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 28,902 $ 15,827 $ 13,075 $ 10,847 $ - $ 2,228 Total $ 28,902 $ 15,827 $ 13,075 $ 10,847 $ - $ 2,228 December 31, 2014 Gross Amounts Not Offset in the Description Gross Amounts of Gross Amounts Net Amounts of Balance Sheet Financial Cash Collateral Net Amount Derivatives $ 23,156 $ 4,412 $ 18,744 $ 17,637 $ - $ 1,107 Total $ 23,156 $ 4,412 $ 18,744 $ 17,637 $ - $ 1,107
Net Investment Income by Source	Net investment income by source for the years ended December 31 was as follows: Net investment income 2015 2014 2013 Fixed maturity securities -available-for-sale $ 70,495 $ 72,568 $ 80,560 Equity securities 2,061 2,091 2,083 Limited partnerships (778 ) 436 (153 ) Mortgage loans on real estate 4,111 3,100 3,275 Policy loans on insurance contracts 35,435 36,765 38,334 Derivatives 4,631 4,478 1,573 Cash and cash equivalents 649 559 619 Other 234 351 366 Gross investment income 116,838 120,348 126,657 Less investment expenses (4,654 ) (3,410 ) (5,524 ) Net investment income $ 112,184 $ 116,938 $ 121,133
Proceeds and Gross Realized Investment Gains (Losses) from Sale of Available-for-Sale Securities	Proceeds and gross realized investment gains (losses) from the sale of AFS securities for the years ended December 31 were as follows: 2015 2014 2013 Proceeds $ 226,843 $ 106,257 $ 756,322 Gross realized investment gains 6,722 4,754 9,598 Gross realized investment losses (3,119 ) (867 ) (13,787 ) Proceeds on AFS securities sold at a realized loss 74,724 27,987 296,028
Net Realized Investment Gains (Losses)	Net realized investment gains (losses) for the years ended December 31 were as follows: 2015 2014 2013 Fixed maturity AFS securities $ 1,380 $ 3,753 $ (5,103 ) Equity securities 350 30 171 Mortgage loans on real estate 313 (1,997 ) (2 ) Adjustment related to VOBA (353 ) 842 439 Net realized investment gains (losses) $ 1,690 $ 2,628 $ (4,495 )
Credit Loss Impairments on Fixed Maturity Securities, Other-Than-Temporary Impairment Loss Recognized in Other Comprehensive Income, and Corresponding Changes	The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated, for which a portion of the OTTI loss was recognized in OCI, and the corresponding changes in such amounts for the years ended December 31: December 31, 2015 2014 Balance at beginning of period $ (185 ) $ 714 Credit loss impairment recognized in the current period on securities not previously impaired 1,764 - Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income 109 104 Accretion of credit loss impairments previously recognized (859 ) (1,003 ) Balance at end of period $ 829 $ (185 )
Components of Other-Than-Temporary Impairments Reflected in Statements of Income	The components of OTTI reflected in the Statements of Income for the years ended December 31 were as follows: 2015 2014 2013 Gross OTTI losses on securities $ 1,873 $ 104 $ 743 VOBA - - (35 ) Net OTTI losses recognized in income $ 1,873 $ 104 $ 708
Securities lending agreements
Summary of Securities Under Reverse Repurchase Agreements	The following table provides a summary of the securities under securities lending agreements at December 31: December 31, 2015 2014 Payables for collateral under securities loaned $ 194,537 $ 265,236 Amortized cost of securities out on loan 162,698 215,195 Estimated fair value of securities out on loan 188,689 260,060
Dollar roll repurchase agreement transactions
Summary of Securities Under Reverse Repurchase Agreements	The following table provides a summary of the securities under reverse repurchase agreements at December 31: December 31, 2015 2014 Payable for reverse repurchase agreements $ - $ 644 Amortized cost of securities pledged - 634 Estimated fair value of securities pledged - 646

Value of Business Acquired ("26

Value of Business Acquired ("VOBA"), Deferred Policy Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI") (Tables)	12 Months Ended
	Dec. 31, 2015
Change in Carrying Amount of Value of Business Acquired	The change in the carrying amount of VOBA for the years ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 268,079 $ 284,602 Amortization expense (22,478 ) (17,405 ) Unlocking 114 6,565 Adjustment related to realized gains on investments and OTTI (353 ) 842 Adjustment related to unrealized (gains) losses 14,131 (6,525 ) Balance at end of period $ 259,493 $ 268,079
Estimated Future Amortization of Value of Business Acquired	The estimated future amortization of VOBA from 2016 to 2020 is as follows: 2016 $ 22,425 2017 21,147 2018 19,721 2019 18,276 2020 17,047
Change in Carrying Amount of Deferred Acquisition Costs	The change in the carrying amount of DAC for the year ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 41,127 $ 34,869 Capitalization 156 190 Accretion (amortization) (2,310 ) 3,690 Unlocking (1,473 ) 2,378 Balance at end of period $ 37,500 $ 41,127
Change in Carrying Amount of Deferred Sales Inducements	The change in the carrying amount of DSI for the year ended December 31 was as follows: 2015 2014 Balance at beginning of period $ 9,351 $ 7,544 Capitalization 22 27 Accretion (amortization) (521 ) 917 Unlocking (335 ) 863 Balance at end of period $ 8,517 $ 9,351

Variable Contracts Containing27

Variable Contracts Containing Guaranteed Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Variable Annuity Contracts Containing Guaranteed Benefits	The Company had the following variable annuity contracts containing guaranteed benefits at December 31: GMDB GMIB GMWB 2015 Net amount at risk (a) $ 839,586 $ 21,371 $ 8,912 Average attained age of contract owners 71 66 75 Weighted average period remaining until expected annuitization N/A 1.7 Years N/A 2014 Net amount at risk (a) $ 717,444 $ 9,511 $ 3,861 Average attained age of contract owners 72 66 74 Weighted average period remaining until expected annuitization N/A 1.7 Years N/A (a) Net amount at risk for GMDB is defined as the current GMDB in excess of the contract owners’ account balance at the Balance Sheet date. Net amount at risk for GMIB is defined as the present value of the minimum guaranteed annuity payments available to the contract owner in excess of the contract owners’ account balance at the Balance Sheet date. Net amount at risk for GMWB is defined as the difference between the maximum amount payable under the guarantee and the contract owners’ account balance at the Balance Sheet date. The definition for net amount at risk on GMWB was changed to be in compliance with the industry definition. The net amount at risk for GMWB at December 31, 2014 was corrected from $119,712 to $3,861 to reflect this updated definition.
Changes in Variable Annuity Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits Liabilities	The changes in the variable annuity GMDB and GMIB liabilities for the years ended December 31 were as follows: GMDB GMIB Balance, January 1, 2014 $ 122,490 $ 63,804 Guaranteed benefits incurred 29,372 11,655 Guaranteed benefits paid (27,516 ) (1,261 ) Unlocking (12,251 ) (4,423 ) Balance, December 31, 2014 112,095 69,775 Guaranteed benefits incurred 26,864 11,919 Guaranteed benefits paid (25,063 ) (1,198 ) Unlocking 17,482 14,552 Balance, December 31, 2015 $ 131,378 $ 95,048
Contract Owners' Account Balances by Mutual Fund Class by Guaranteed Benefit Provisions	At December 31, contract owners’ account balances by mutual fund class by guaranteed benefit provisions were comprised as follows: Equity Bond Balanced Money Total 2015 GMDB only $ 1,313,314 $ 459,890 $ 367,161 $ 125,174 $ 2,265,539 GMDB and GMIB 831,162 273,085 105,572 169,148 1,378,967 GMDB and GMWB 299,298 117,689 1,876 108,445 527,308 GMWB only 124,192 47,519 1,239 43,771 216,721 GMIB only 75,495 24,642 1,587 32,336 134,060 No guaranteed benefit 16,060 5,600 610 12,906 35,176 Total $ 2,659,521 $ 928,425 $ 478,045 $ 491,780 $ 4,557,771 2014 GMDB only $ 1,526,652 $ 508,580 $ 421,177 $ 146,636 $ 2,603,045 GMDB and GMIB 963,229 273,678 130,170 222,413 1,589,490 GMDB and GMWB 350,195 106,693 2,712 154,544 614,144 GMWB only 144,587 43,950 1,805 62,323 252,665 GMIB only 88,566 23,688 1,840 42,583 156,677 No guaranteed benefit 17,657 4,887 585 14,153 37,282 Total $ 3,090,886 $ 961,476 $ 558,289 $ 642,652 $ 5,253,303
Contract Owners' Account Balances by Mutual Fund Class for Contracts Containing Guaranteed Minimum Death Benefit Provisions	At December 31, contract owners’ account balances by mutual fund class for contracts containing GMDB provisions were distributed as follows: 2015 2014 Balanced $ 608,486 $ 671,430 Equity 533,700 578,149 Bond 135,117 154,326 Money Market 105,591 114,161 Total $ 1,382,894 $ 1,518,066

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Reconciliation of Provision for Income Taxes Based on Income (Loss) Before Federal Income Taxes, Computed using Federal Statutory Rate Versus Reported Provision for Income Taxes	The following is a reconciliation of the provision for income taxes based on income (loss) before federal income taxes, computed using the federal statutory rate versus the reported provision for income taxes for the years ended December 31: 2015 2014 2013 Provisions for income taxes computed at Federal statutory rate (35%) $ 3,129 $ 13,635 $ (48,278 ) Increase (decrease) in income taxes resulting from: Dividend received deduction (6,622 ) (7,861 ) (8,960 ) Tax credits (302 ) (416 ) (520 ) Valuation allowance on deferred tax assets (1,497 ) (510 ) 133,499 Provision to return adjustment 498 558 (1,740 ) State taxes (benefits) (287 ) (92 ) 2,082 Unrecognized tax benefits 363 110 283 Income tax provision $ (4,718 ) $ 5,424 $ 76,366
Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities at December 31 were as follows: December 31, 2015 2014 Deferred tax assets Tax DAC $ 29,634 $ 44,525 Net operating and capital loss carry forward 210,363 184,806 Intangible assets 34,942 40,355 Policy holder reserves 22,955 39,840 Tax credits 13,084 12,790 Other 1,528 1,652 Total deferred tax assets 312,506 323,968 Valuation allowance (130,946 ) (113,406 ) Net deferred tax assets 181,560 210,562 Deferred tax liabilities Book DAC and VOBA 109,789 115,270 Policy holder reserves 26,740 31,440 Investments 45,139 68,686 Total deferred tax liabilities 181,668 215,396 Total net deferred tax asset (liability) $ (108 ) $ (4,834 )
Provision for Income Tax Expense (Benefit)	The provision for income tax expense (benefit) consists of the following for the years ended: December 31, 2015 2014 2013 Current federal income tax expense (benefit) $ - $ 181 $ (61 ) Current state income tax expense 9 - 158 Deferred federal income tax expense (benefit) (4,275 ) 5,385 73,218 Deferred state income tax expense (benefit) (452 ) (142 ) 3,051 Total income tax expense (benefit) $ (4,718 ) $ 5,424 $ 76,366
Provision for Income Tax Receivable (Payable)	The provision for income tax asset/(liability) consists of the following for the periods ending December 31: December 31, 2015 2014 Current federal income tax liability $ (179 ) $ (179 ) Current state income tax liability (287 ) (96 ) Deferred federal income tax liability (1,620 ) (5,895 ) Deferred state income tax asset 1,512 1,061 Net income tax payable $ (574 ) $ (5,109 )
Components of Change in Unrecognized Tax Benefits	The components of the change in the unrecognized tax benefits were as follows: December 31, 2015 2014 Balance at beginning of period $ 3,041 $ 2,931 Additions for tax positions of prior years 363 110 Additions for tax positions of current year 293 - Reductions for tax positions of current year (293 ) - Balance at end of period $ 3,404 $ 3,041

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income	The following table presents the change in accumulated other comprehensive income by component for the years ended December 31: 2015 Unrealized Holding Gains (Losses) on AFS Securities Unrealized Holding Gains (Losses) on Cash Flow Hedges OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax Total (a) Beginning balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 OCI before reclassifications (70,077 ) 1,807 14,131 (54,139 ) Amounts reclassified from AOCI 1,389 99 - 1,488 Net current period OCI (68,688 ) 1,906 14,131 (52,651 ) Ending balance $ 95,533 $ 4,202 $ (43,144 ) $ 56,591 2014 Unrealized Holding Gains (Losses) on AFS Securities (a) Unrealized Holding Gains (Losses) on Cash Flow Hedges (a) OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax Total (a) Beginning balance $ 88,640 $ 1,813 $ (50,750 ) $ 39,703 OCI before reclassifications 75,196 (278 ) (6,525 ) 68,393 Amounts reclassified from AOCI 385 761 - 1,146 Net current period OCI 75,581 483 (6,525 ) 69,539 Ending balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 2013 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 212,660 - $ (115,950 ) $ 96,710 OCI before reclassifications (101,172 ) 1,756 65,200 (34,216 ) Amounts reclassified from AOCI (22,848 ) 57 - (22,791 ) Net current period OCI (124,020 ) 1,813 65,200 (57,007 ) Ending balance $ 88,640 $ 1,813 $ (50,750 ) $ 39,703 (a) All amounts are net of tax.
Reclassifications out of Accumulated Other Comprehensive Income	The following table presents the reclassifications out of accumulated other comprehensive income for the years ended December 31: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is AOCI Components 2015 2014 2013 Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ 484 $ (281 ) $ 23,204 Net realized investment gains (losses) (1,873 ) (104 ) (356 ) Portion of OTTI previously recognized in OCI (1,389 ) (385 ) 22,848 Total before tax - - 8,111 Tax expense (benefit) $ (1,389 ) $ (385 ) $ 14,737 Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (99 ) $ (761 ) $ (57 ) Net investment income (99 ) (761 ) (57 ) Total before tax - - (20 ) Tax benefit $ (99 ) $ (761 ) (37 ) Net of tax Total amounts reclassified from AOCI $ (1,488 ) $ (1,146 ) $ 14,700

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2015
Life Insurance Inforce	At December 31, 2015, the Company had the following life insurance in force: Gross Ceded to Assumed Net amount Percentage Life insurance inforce $ 4,959,237 $ 188,984 $ 883 $ 4,771,136 0.02 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Affiliated Purchasing and Selling of Investments Between Affiliated Companies	The purchasing and selling of investments between affiliated companies for the years ended December 31, were as follows: 2015 2014 2013 Investments purchased from affiliates: AFS fixed maturities $ 30,356 $ 137,281 $ - Mortgages 4,000 - - Limited partnerships - 60,000 - Derivatives - - 15,097 Investments sold to affiliates: AFS fixed maturities $ 24,878 $ 24,844 $ 1,698 Mortgage loans on real estate - 2,038 - Derivatives 82 - -

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Business Segment's Contribution to Select Statements of Income Information	The following tables summarize each business segment’s contribution to select Statements of Income information for the years ended December 31: Annuity Life Total 2015 Net revenues (a) $ 114,666 $ 73,583 $ 188,249 Amortization of VOBA 8,110 14,254 22,364 Policy benefits (net of reinsurance recoveries) 68,984 36,262 105,246 Income tax expense (benefit) (9,297 ) 4,579 (4,718 ) Net income (717 ) 14,375 13,658 2014 Net revenues (a) $ 91,381 $ 75,346 $ 166,727 Amortization of VOBA 928 9,912 10,840 Policy benefits (net of reinsurance recoveries) 38,893 38,984 77,877 Income tax expense (benefit) (2,796 ) 8,220 5,424 Net income 19,224 14,309 33,533 2013 Net revenues (a) $ (96,213 ) $ 73,646 $ (22,567 ) Amortization of VOBA 34 4,736 4,770 Policy benefits (net of reinsurance recoveries) 6,421 40,451 46,872 Income tax expense 62,353 14,013 76,366 Net Income (loss) (224,439 ) 10,137 (214,302 ) (a) Net revenues include total revenues net of interest credited to policyholder liabilities.
Selected Balance Sheet Information	The following tables represent select Balance Sheet information at December 31: Total Assets Total 2015 Annuity $ 6,396,511 $ 609,363 Life Insurance 2,769,424 1,096,829 Total $ 9,165,935 $ 1,706,192 2014 Annuity $ 7,181,270 $ 584,370 Life Insurance 2,988,805 1,138,164 Total $ 10,170,075 $ 1,722,534

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)StateCountryPartnershipUnit	Dec. 31, 2014USD ($)PartnershipUnit	Dec. 31, 2013USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of countries in which company operates | Country	20
Number of states in which company licensed to sell insurance and annuities | State	49
Net Income (Loss)	$ 13,658	$ 33,533	$ (214,302)
Income (loss) Before Taxes	8,940	38,957	(137,936)
Change in previously recognized unrealized other-than-temporary impairments	(741)	2,805	588
Net unrealized holding gains (losses) arising during the period	(69,336)	72,391	(101,760)
Policy charge revenue	166,746	177,913	177,037
Income tax asset	1,512	1,061
Income tax liability	2,086	6,170
Future policy benefits	518,911	485,832
Recoverable of ceded GMIB embedded derivatives, at fair value	$ 61,426	$ 60,573
Percentage of value, impact of illiquidity premium to overall valuation	2.00%	2.00%
Number of limited partnerships in which the company had investments | PartnershipUnit	2	2
Minimum percentage of fair value of loaned securities	102.00%
Impairment of goodwill	$ 0	$ 0	0
Maximum
Summary Of Significant Accounting Policies [Line Items]
Short-term investments with original maturities	3 months
Interest rates for future policy benefits liabilities	8.80%	8.80%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Interest rates for future policy benefits liabilities	0.01%	0.01%
Loans 90 Days Past Due
Summary Of Significant Accounting Policies [Line Items]
Accrue interest	$ 0
Valuation of business acquired
Summary Of Significant Accounting Policies [Line Items]
Long-term growth rate assumption for amortization	8.00%	8.00%
Deferred policy acquisition costs
Summary Of Significant Accounting Policies [Line Items]
Long-term growth rate assumption for amortization	8.00%	8.00%
Deferred sales inducements
Summary Of Significant Accounting Policies [Line Items]
Long-term growth rate assumption for amortization	8.00%	8.00%
Immaterial Out-of-Period Errors
Summary Of Significant Accounting Policies [Line Items]
Net Income (Loss)	$ 3,400
Income (loss) Before Taxes	3,400
Immaterial Out-of-Period Errors | GMDB
Summary Of Significant Accounting Policies [Line Items]
Income (loss) Before Taxes	(800)
Immaterial Out-of-Period Errors | Guaranteed Life Withdraw Benefits
Summary Of Significant Accounting Policies [Line Items]
Income (loss) Before Taxes	300
Immaterial Out-of-Period Errors | Incorrect fee assumptions for revenue sharing, investment management, and fund facilitation fee
Summary Of Significant Accounting Policies [Line Items]
Income (loss) Before Taxes	3,700
Immaterial Out-of-Period Errors | Correction made to ceded reserves for the incorrect assumption that all treaties were monthly renewable term (MRT) when some treaties were actually yearly renewable term (YRT)
Summary Of Significant Accounting Policies [Line Items]
Income (loss) Before Taxes	$ 200
Restatement Adjustment
Summary Of Significant Accounting Policies [Line Items]
Change in previously recognized unrealized other-than-temporary impairments		$ 5,818	1,888
Net unrealized holding gains (losses) arising during the period		(5,818)	(1,888)
Reinsurance premium ceded		5,384	8,559
Policy charge revenue		5,384	$ 8,559
Income tax asset		1,061
Income tax liability		6,170
Future policy benefits		60,573
Recoverable of ceded GMIB embedded derivatives, at fair value		$ 60,573

Interest -Crediting Rates for F

Interest -Crediting Rates for Fixed Rate Products (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Liability for Future Policy Benefit, by Product Segment [Line Items]
Interest-sensitive life products, interest-crediting rates	4.00%	4.00%
Interest-sensitive deferred annuities, interest-crediting rates minimum	0.25%	0.25%
Interest-sensitive deferred annuities, interest-crediting rates maximum	4.90%	4.90%

Hierarchy of Assets and Liabili

Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Assets
Fixed maturity available-for-sale securities, at estimated fair value		$ 1,665,337	$ 1,867,913
Equity available-for-sale securities		34,667	35,958
Derivative assets		10,893	1,055
Limited partnerships		63,489	64,518
Recoverable of ceded GMIB embedded derivatives		61,426	60,573
Separate Accounts assets		5,940,665	6,771,369
Liabilities
Derivative liabilities		13,075	18,744
Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		1,016,792	1,177,409
Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		122,654	133,160
Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		71,683	100,801
Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		59,265	45,447
Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value		807	800
Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value		386,288	400,251
Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value		7,848	10,045
Banking securities
Assets
Equity available-for-sale securities		28,673	29,702
Industrial securities
Assets
Equity available-for-sale securities		5,994	6,256
Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,665,337	1,867,913
Equity available-for-sale securities	[1]	34,667	35,958
Cash equivalents	[2]	234,500	232,509
Derivative assets	[3]	10,893	1,055
Limited partnerships	[4]	63,489	64,518
Recoverable of ceded GMIB embedded derivatives	[5]	61,426	60,573
Separate Accounts assets	[6]	5,940,665	6,771,369
Total assets		8,010,977	9,033,895
Liabilities
Future policy benefits (embedded derivatives only)	[7]	61,129	61,206
Derivative liabilities	[3]	13,075	18,744
Total liabilities		74,204	79,950
Fair Value, Measurements, Recurring | Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,016,792	1,177,409
Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	122,654	133,160
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	71,683	100,801
Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	59,265	45,447
Fair Value, Measurements, Recurring | Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	807	800
Fair Value, Measurements, Recurring | Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	386,288	400,251
Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	7,848	10,045
Fair Value, Measurements, Recurring | Banking securities
Assets
Equity available-for-sale securities	[1]	28,673	29,702
Fair Value, Measurements, Recurring | Industrial securities
Assets
Equity available-for-sale securities	[1]	5,994	6,256
Level 1 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	387,787	403,815
Separate Accounts assets	[6]	5,940,665	6,771,369
Total assets		6,328,452	7,175,184
Level 1 | Fair Value, Measurements, Recurring | Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	386,288	400,251
Level 1 | Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,499	3,564
Level 2 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,270,884	1,455,624
Equity available-for-sale securities	[1]	34,667	35,958
Cash equivalents	[2]	234,500	232,509
Derivative assets	[3]	10,893	1,055
Limited partnerships	[4]	61,373	60,432
Total assets		1,612,317	1,785,578
Liabilities
Derivative liabilities	[3]	13,075	18,744
Total liabilities		13,075	18,744
Level 2 | Fair Value, Measurements, Recurring | Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,016,792	1,177,409
Level 2 | Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	115,988	124,686
Level 2 | Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	71,683	100,801
Level 2 | Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	59,265	45,447
Level 2 | Fair Value, Measurements, Recurring | Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	807	800
Level 2 | Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	6,349	6,481
Level 2 | Fair Value, Measurements, Recurring | Banking securities
Assets
Equity available-for-sale securities	[1]	28,673	29,702
Level 2 | Fair Value, Measurements, Recurring | Industrial securities
Assets
Equity available-for-sale securities	[1]	5,994	6,256
Level 3 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	6,666	8,474
Limited partnerships	[4]	2,116	4,086
Recoverable of ceded GMIB embedded derivatives	[5]	61,426	60,573
Total assets		70,208	73,133
Liabilities
Future policy benefits (embedded derivatives only)	[7]	61,129	61,206
Total liabilities		61,129	61,206
Level 3 | Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	$ 6,666	$ 8,474
[1]	Securities are classified as Level 1 if the fair value is determined by observable inputs that reflect quoted prices for identical assets in active markets that the Company has the ability to access at the measurement date. Level 1 securities primarily include highly liquid U.S. Treasury and U.S. government agency securities. Securities are classified as Level 2 if the fair value is determined by observable inputs, other than quoted prices included in Level 1, for the asset or prices for similar assets. Securities are classified as Level 3 if the valuations are derived from techniques in which one or more of the significant inputs are unobservable. Level 3 consists principally of fixed maturity securities whose fair value is estimated based on non-binding broker quotes and internal models. These internal models primarily use projected cash flows discounted using relevant risk spreads and market interest rate curves. At December 31, 2015 there were no fixed maturity AFS securities valued using internal models. At December 31, 2014, less than 0.5% of fixed maturity AFS securities were valued using internal models.
[2]	Cash equivalents are primarily valued at amortized cost, which approximates fair value. Operating cash is not included in the above table.
[3]	Level 2 derivatives include interest rate swaps, inflation swaps, variance swaps, total return swaps, and credit default swaps for which the Company utilized readily accessible quoted index levels and broker quotes. The fair value of interest rate swaps is calculated based on the change in the underlying floating rate curve (LIBOR) at the reporting date, as compared to the fixed leg of the swap. The fair value for inflation swaps is calculated as the difference between the consumer price index (or related readily accessible quoted inflation index level) at the reporting date from the last reset date, multiplied by the notional value of the swap. The fair value for the variance swaps is calculated as the difference between the estimated volatility of the underlying Standard and Poor's 500 Composite Stock Price Index ("S&P") at maturity to the actual volatility of the underlying S&P index at initiation (i.e., strike) multiplied by the notional value of the swap. Total return swaps are valued based on the change in the underlying equity index as of the last reset date. Credit default swaps are valued using a discounted cash flow model where future premium payments and protection payments are corrected for the probability of default which is modeled using an arbitrage free credit spread model.
[4]	Limited partnership investments in which management is able to determine that observable market inputs have been used and can be redeemed at the net asset value in 90 days or less are considered Level 2. The Company has an investment in a limited partnership for which the fair value is derived from management's review of the financial information obtained from the private equity fund prepared on a GAAP basis and is considered a Level 3 measurement. The valuation utilizing these financial statements is on a one quarter lag.
[5]	GMIB reinsurance is treated as embedded derivatives and is reported as recoverable of ceded GMIB embedded derivatives, at fair value in Balance Sheets.
[6]	Separate Accounts assets are carried at the net asset value provided by the fund managers.
[7]	The Company issued contracts containing guaranteed minimum withdrawal benefit riders ("GMWB") and obtained GMIB reinsurance. GMWB and GMIB reinsurance are treated as embedded derivatives and are required to be reported separately from the host contract. In addition, the Company issues SALB contracts which are required to be reported at fair value. The fair value of these guarantees is calculated as the present value of future expected payments to policyholders less the present value of assessed fees attributable to the guarantees. Given the complexity and long-term nature of these guarantees, their fair values are determined using stochastic techniques under a variety of market return, discount rates and actuarial assumptions. Since many of the 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 of the fair value hierarchy.

Hierarchy of Assets and Liabi36

Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) - Maximum	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity AFS securities, valued using internal models	0.00%	0.50%
Limited partnership investments redeemable period	90 days

Summary of Change in Fair Value

Summary of Change in Fair Value of Level 3 Assets (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		$ 73,133
Balance at end of period		70,208	$ 73,133
Limited partnership
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	[1]	4,086	5,044
Sales		(252)	(962)
Changes in valuation	[2]	(1,718)	4
Balance at end of period	[1]	2,116	4,086
Fixed maturity AFS securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	[1]	8,474	6,428
Change in unrealized losses	[3]	(376)	(72)
Purchases		1,999
Sales		(126)	(30)
Transfers into Level 3		2,049	3,744
Transfers out of Level 3		(5,354)	(1,596)
Balance at end of period	[1]	$ 6,666	$ 8,474
[1]	Recorded as a component of limited partnerships and fixed maturity AFS in the Balance Sheets.
[2]	Recorded as a component of net investment income in the Statements of Income.
[3]	Recorded as a component of Other Comprehensive Income (Loss) in net unrealized holding gains (Losses) on AFS securities arising during the period.

Fair Value of Financial Instr38

Fair Value of Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Measurement Inputs, Disclosure [Line Items]
Own credit risk	0.40%	0.30%
Long-term forward rate assumption	25.00%	25.00%
Market based implied volatility inputs	5 years
Year 20 | Standard and Poor's Composite Stock Price Index
Fair Value, Measurement Inputs, Disclosure [Line Items]
Long-term forward rate assumption	24.20%	24.30%

Summary of Changes in Fair Valu

Summary of Changes in Fair Value of Level 3 Liabilities (Assets) (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period		$ 61,206
Liabilities, balance at end of period		61,129	$ 61,206
Assets, Balance at beginning of period		(73,133)
Assets, balance at end of period		(70,208)	(73,133)
GMIB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, Balance at beginning of period	[1]	(60,573)	(39,345)
Assets, other	[2]	144	3,201
Assets, balance at end of period	[1]	(61,426)	(60,573)
GMIB | Interest rates
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, changes in interest rates and equity markets	[2]	979	(26,759)
GMIB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, changes in interest rates and equity markets	[2]	(1,976)	2,330
GMWB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period	[1]	60,702	21,776
Liabilities, other	[2]	(7,376)	7,404
Liabilities, balance at end of period	[1]	60,618	60,702
GMWB | Interest rates
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, changes in interest rates and equity markets	[2]	(1,890)	30,760
GMWB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, changes in interest rates and equity markets	[2]	9,182	762
SALB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period	[1]	504	41
Liabilities, balance at end of period	[1]	511	504
SALB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, changes in interest rates and equity markets	[2]	$ 7	$ 463
[1]	GMWB and SALB are recorded as a component of future policy benefits in the Balance Sheets and GMIB reinsurance is recorded as recoverable of ceded GMIB embeded derivatives, at fair value in the Balance Sheets.
[2]	Recorded as a component of policy benefits in the Statements of Income.

Summary of Quantitative Inputs

Summary of Quantitative Inputs and Assumptions of Level 3 Assets and Liabilities (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Fair Value		$ 70,208		$ 73,133
Future policy benefits (embedded derivatives), fair value		$ 61,129		$ 61,206
Own credit risk		0.40%		0.30%
Long-term volatility		25.00%		25.00%
Fixed maturity AFS securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Fair Value	[1]	$ 6,666		$ 8,474		$ 6,428
Fixed maturity AFS securities | Asset-backed securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Fair Value		6,666		8,474
Limited partnership
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Fair Value	[1]	2,116		4,086		5,044
GMWB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Future policy benefits (embedded derivatives), fair value	[2]	60,618		60,702		21,776
GMIB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Fair Value	[2]	61,426		60,573		39,345
SALB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Future policy benefits (embedded derivatives), fair value	[2]	$ 511		$ 504		$ 41
Level 3 | Fixed maturity AFS securities | Asset-backed securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Broker		Broker
Level 3 | Limited partnership
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Not applicable	[3]	Not applicable	[4]
Level 3 | GMWB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Discounted cash flows
Level 3 | GMWB | Weighted Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Own credit risk		0.40%		0.30%
Long-term volatility		25.00%		25.00%
Level 3 | GMIB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Discounted cash flows		Discounted cash flows
Level 3 | GMIB | Weighted Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Own credit risk		0.40%		0.30%
Long-term volatility		25.00%		25.00%
Level 3 | SALB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		-	[4]	-	[5]
[1]	Recorded as a component of limited partnerships and fixed maturity AFS in the Balance Sheets.
[2]	GMWB and SALB are recorded as a component of future policy benefits in the Balance Sheets and GMIB reinsurance is recorded as recoverable of ceded GMIB embeded derivatives, at fair value in the Balance Sheets.
[3]	The Company has obtained non-binding broker quotes that cannot be corroborated by market observable data, to assist in determining fair value of the level 3 asset-back securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and an asset specialist review of the broker price.
[4]	The Company has an investment in a limited partnership for which the fair value is derived from management's review of the underlying financial statements that were prepared on a GAAP basis. Management did not make any adjustments to the valuation from the underlying financial statements. As a result, inputs are not developed by management to determine the fair value measurement for this investment.
[5]	The SALB is a product with fewer than 150 policies. Due to the small size of this block the liability was determined based on fees earned.

Estimated Fair Value of Assets

Estimated Fair Value of Assets Not Carried at Fair Value on Balance Sheet (Detail) - Estimate of Fair Value, Fair Value Disclosure - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		$ 754,389	$ 752,504
Mortgage loans on real estate
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[1]	92,923	71,433
Policy loans
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[2]	661,466	681,071
Level 2
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		661,466	681,071
Level 2 | Policy loans
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[2]	661,466	681,071
Level 3
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		92,923	71,433
Level 3 | Mortgage loans on real estate
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[1]	$ 92,923	$ 71,433
[1]	The fair value of mortgage loans on real estate is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and/or remaining maturities.
[2]	Policy loans are stated at unpaid principal balance. The fair value of policy loans approximates book value.

Amortized Cost_Cost and Estimat

Amortized Cost/Cost and Estimated Fair Value of Investments in Fixed Maturity and Equity Available-for-Sale Securities (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		$ 1,570,693	$ 1,705,721
Gross Unrealized Gains		114,402	170,357
Gross Unrealized Losses		(19,758)	(8,165)
Fixed maturity available-for-sale securities, at estimated fair value		1,665,337	1,867,913
Gross Unrealized OTTI in AOCI	[1]	(42)	(97)
Equity available-for-sale securities, cost		33,777	33,928
Gross Unrealized Gains		1,972	2,600
Gross Unrealized Losses		(1,082)	(570)
Equity available-for-sale securities, at estimated fair value		34,667	35,958
Gross Unrealized OTTI in AOCI	[1]	0	0
Banking securities
Schedule of Available-for-sale Securities [Line Items]
Equity available-for-sale securities, cost		27,986	28,137
Gross Unrealized Gains		1,769	2,135
Gross Unrealized Losses		(1,082)	(570)
Equity available-for-sale securities, at estimated fair value		28,673	29,702
Gross Unrealized OTTI in AOCI	[1]	0	0
Industrial securities
Schedule of Available-for-sale Securities [Line Items]
Equity available-for-sale securities, cost		5,791	5,791
Gross Unrealized Gains		203	465
Equity available-for-sale securities, at estimated fair value		5,994	6,256
Gross Unrealized OTTI in AOCI	[1]	0	0
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		977,900	1,095,082
Gross Unrealized Gains		57,648	89,852
Gross Unrealized Losses		(18,756)	(7,525)
Fixed maturity available-for-sale securities, at estimated fair value		1,016,792	1,177,409
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		118,993	127,803
Gross Unrealized Gains		4,140	5,743
Gross Unrealized Losses		(479)	(386)
Fixed maturity available-for-sale securities, at estimated fair value		122,654	133,160
Gross Unrealized OTTI in AOCI	[1]	(42)	(97)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		70,083	96,594
Gross Unrealized Gains		1,904	4,341
Gross Unrealized Losses		(304)	(134)
Fixed maturity available-for-sale securities, at estimated fair value		71,683	100,801
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		56,527	42,205
Gross Unrealized Gains		2,819	3,244
Gross Unrealized Losses		(81)	(2)
Fixed maturity available-for-sale securities, at estimated fair value		59,265	45,447
Municipals
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		913	916
Gross Unrealized Losses		(106)	(116)
Fixed maturity available-for-sale securities, at estimated fair value		807	800
Government and government agencies - United States
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		339,686	334,448
Gross Unrealized Gains		46,634	65,805
Gross Unrealized Losses		(32)	(2)
Fixed maturity available-for-sale securities, at estimated fair value		386,288	400,251
Government and government agencies - Foreign
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		6,591	8,673
Gross Unrealized Gains		1,257	1,372
Fixed maturity available-for-sale securities, at estimated fair value		$ 7,848	$ 10,045
[1]	Represents OTTI in AOCI, which were not included in earnings. Amount excludes $2,515 and $3,202 of unrealized gains at December 31, 2015 and 2014, respectively.

Amortized Cost_Cost and Estim43

Amortized Cost/Cost and Estimated Fair Value of Investments in Fixed Maturity and Equity Available-for-Sale Securities (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Unrealized gains	$ 2,515	$ 3,202

Amortized Cost and Estimated Fa

Amortized Cost and Estimated Fair Value of Fixed Maturity Available-for-Sale Securities by Investment Grade (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	$ 1,570,693	$ 1,705,721
Fixed maturity available-for-sale securities, at estimated fair value	1,665,337	1,867,913
Investment grade
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	1,467,677	1,615,944
Fixed maturity available-for-sale securities, at estimated fair value	1,565,053	1,776,153
Below investment grade
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	103,016	89,777
Fixed maturity available-for-sale securities, at estimated fair value	$ 100,284	$ 91,760

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)InvestmentLoan	Dec. 31, 2014USD ($)InvestmentLoan	Dec. 31, 2013USD ($)Loan
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, at estimated fair value		$ 1,665,337	$ 1,867,913
Number of Securities | Investment		133	95
Gross Unrealized Losses	[1]	$ (20,840)	$ (8,735)
Estimated Fair Value		283,146	214,337
Prepayment premiums		335	0
General reserve		$ 78	$ 36
Number of impaired mortgages loans | Loan		0	0	0
Deferred net losses on derivatives recorded in AOCI that are expected to be reclassified during the next 12 months		$ (99)
Fair value of threshold due to credit support agreement		1,000
Cash collateral received from counterparties		11,405	$ 0
Other financial assets, subject to offsetting		2,735	1,055
Other financial liabilities, subject to offsetting		2,228	$ 1,107
Number of impaired mortgages loans sold subsequently | Loan			1
Net realized investment gains (losses)		$ 1,690	$ 2,628	$ (4,495)
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Concentrations of mortgage loans		72.00%
General Reserves
Schedule of Available-for-sale Securities [Line Items]
General reserve		$ 78	36
Unrealized Holding Gains (Losses) on AFS Securities
Schedule of Available-for-sale Securities [Line Items]
Adjustments in conjunction with the unrealized holding gains or losses on investments classified as available-for-sale.		0	0
Other Financial Liabilities
Schedule of Available-for-sale Securities [Line Items]
Other financial liabilities, subject to offsetting		$ 0	$ 0
Decline > 20%
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Investment		5	2
Gross Unrealized Losses		$ (4,052)	$ (2,665)
Estimated Fair Value		$ 11,372	3,221
Decline > 40%
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Investment		4
Gross Unrealized Losses		$ (7,279)
Estimated Fair Value		5,357
Mortgage loans on real estate
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)			(1,997)
Other Financial Assets
Schedule of Available-for-sale Securities [Line Items]
Other financial assets, subject to offsetting		0	0
Future
Schedule of Available-for-sale Securities [Line Items]
Collateral, fair value		4,136	3,235
Other Derivatives
Schedule of Available-for-sale Securities [Line Items]
Securities pledged to counterparties		16,439	27,862
Standard & Poor's, BBB- Rating
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, at estimated fair value		79,958	107,865
Deposited with insurance regulatory authorities
Schedule of Available-for-sale Securities [Line Items]
Investment securities, estimated fair value		$ 14,629	$ 20,484
[1]	Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI.

Amortized Cost and Estimated 46

Amortized Cost and Estimated Fair Value of Fixed Maturity Available-for-Sale Securities by Contractual Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized cost of fixed maturity AFS securities
Amortized cost of fixed maturity AFS securities due in one year or less	$ 64,114	$ 61,405
Amortized cost of fixed maturity AFS securities due after one year through five years	564,707	480,098
Amortized cost of fixed maturity AFS securities due after five years through ten years	230,858	453,522
Amortized cost of fixed maturity AFS securities due after ten years	465,410	444,094
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Total	1,325,089	1,439,119
Amortized cost of mortgage-backed securities and other asset-backed securities	245,604	266,602
Fixed maturity available-for-sale securities, amortized cost	1,570,693	1,705,721
Estimated fair value of fixed maturity AFS securities
Estimated fair value of fixed maturity AFS securities due in one year or less	65,086	62,356
Estimated fair value of fixed maturity AFS securities due after one year through five years	599,965	514,063
Estimated fair value of fixed maturity AFS securities due after five years through ten years	230,815	481,957
Estimated fair value of fixed maturity AFS securities due after ten years	515,868	530,129
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Total	1,411,734	1,588,505
Estimated fair value of mortgage-backed securities and other asset-backed securities	253,603	279,408
Fixed maturity available-for-sale securities, at estimated fair value	$ 1,665,337	$ 1,867,913

Estimated Fair Value and Gross

Estimated Fair Value and Gross Unrealized Losses and Other-Than-Temporary Impairments related to Fixed Maturity and Equity Available-for-Sale Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		$ 283,146	$ 214,337
Amortized Cost/Cost		303,986	223,072
Gross Unrealized Losses and OTTI	[1]	(20,840)	(8,735)
Less than or equal to six months
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		229,334	148,549
Amortized Cost/Cost		239,090	153,328
Gross Unrealized Losses and OTTI	[1]	(9,756)	(4,779)
Less than or equal to six months | Fixed maturity AFS securities | Corporate securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		130,718	60,583
Amortized Cost/Cost		139,846	64,799
Gross Unrealized Losses and OTTI	[1]	(9,128)	(4,216)
Less than or equal to six months | Fixed maturity AFS securities | Asset-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		59,051	70,078
Amortized Cost/Cost		59,312	70,188
Gross Unrealized Losses and OTTI	[1]	(261)	(110)
Less than or equal to six months | Fixed maturity AFS securities | Commercial mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		17,185	528
Amortized Cost/Cost		17,450	529
Gross Unrealized Losses and OTTI	[1]	(265)	(1)
Less than or equal to six months | Fixed maturity AFS securities | Residential mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		3,896
Amortized Cost/Cost		3,966
Gross Unrealized Losses and OTTI	[1]	(70)
Less than or equal to six months | Fixed maturity AFS securities | Government and government agencies - United States
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		18,484	9,310
Amortized Cost/Cost		18,516	9,312
Gross Unrealized Losses and OTTI	[1]	(32)	(2)
Less than or equal to six months | Equity securities | Banking securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value			8,050
Amortized Cost/Cost			8,500
Gross Unrealized Losses and OTTI	[1]		(450)
Greater than six months but less than or equal to one year
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		30,335	3,372
Amortized Cost/Cost		33,118	3,792
Gross Unrealized Losses and OTTI	[1]	(2,783)	(420)
Greater than six months but less than or equal to one year | Fixed maturity AFS securities | Corporate securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		27,872	3,363
Amortized Cost/Cost		30,597	3,783
Gross Unrealized Losses and OTTI	[1]	(2,725)	(420)
Greater than six months but less than or equal to one year | Fixed maturity AFS securities | Asset-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		455
Amortized Cost/Cost		463
Gross Unrealized Losses and OTTI	[1]	(8)
Greater than six months but less than or equal to one year | Fixed maturity AFS securities | Commercial mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		988
Amortized Cost/Cost		1,028
Gross Unrealized Losses and OTTI	[1]	(40)
Greater than six months but less than or equal to one year | Fixed maturity AFS securities | Residential mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		1,020	9
Amortized Cost/Cost		1,030	9
Gross Unrealized Losses and OTTI	[1]	(10)
Greater than one year
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		23,477	62,416
Amortized Cost/Cost		31,778	65,952
Gross Unrealized Losses and OTTI	[1]	(8,301)	(3,536)
Greater than one year | Fixed maturity AFS securities | Corporate securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		8,628	44,656
Amortized Cost/Cost		15,531	47,545
Gross Unrealized Losses and OTTI	[1]	(6,903)	(2,889)
Greater than one year | Fixed maturity AFS securities | Asset-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		4,788	6,721
Amortized Cost/Cost		4,999	6,997
Gross Unrealized Losses and OTTI	[1]	(211)	(276)
Greater than one year | Fixed maturity AFS securities | Commercial mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value			8,504
Amortized Cost/Cost			8,637
Gross Unrealized Losses and OTTI	[1]		(133)
Greater than one year | Fixed maturity AFS securities | Residential mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		39	59
Amortized Cost/Cost		40	61
Gross Unrealized Losses and OTTI	[1]	(1)	(2)
Greater than one year | Fixed maturity AFS securities | Municipals
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		808	800
Amortized Cost/Cost		912	916
Gross Unrealized Losses and OTTI	[1]	(104)	(116)
Greater than one year | Equity securities | Banking securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		9,214	1,676
Amortized Cost/Cost		10,296	1,796
Gross Unrealized Losses and OTTI	[1]	$ (1,082)	$ (120)
[1]	Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI.

Components of Net Unrealized Ga

Components of Net Unrealized Gains Losses and Other-Than-Temporary Impairments Included in Accumulated Other Comprehensive Income Net of Taxes (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of taxes	[1]	$ 56,591	$ 109,242		$ 39,703		$ 96,710
Unrealized Holding Gains (Losses) on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		77,924	130,575
Accumulated other comprehensive income (loss), net of taxes		95,533	164,221	[1]	88,640	[1]	$ 212,660	[1]
Unrealized Holding Gains (Losses) on AFS Securities | Fixed maturity AFS securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		94,644	162,192
Unrealized Holding Gains (Losses) on AFS Securities | Equity securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		890	2,030
Unrealized Holding Gains (Losses) on AFS Securities | Valuation of business acquired
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		(21,812)	(35,943)
Unrealized Holding Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of taxes		4,202	2,296	[1]	$ 1,813	[1]
Unrealized Holding Gains (Losses) on Cash Flow Hedges | Cash Flow Hedging
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		4,202	2,296
Accumulated Net Unrealized Liability Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		(21,333)	(21,333)
Accumulated Net Unrealized Liability Gain (Loss) | Federal income taxes - deferred
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes		$ (21,333)	$ (21,333)
[1]	All amounts are net of tax.

Change in Credit Loss Allowance

Change in Credit Loss Allowances on Mortgage Loans by Type of Property (Detail) - Commercial mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Beginning balance	$ 36	$ 27
Provision	42	9
Ending balance	$ 78	$ 36

Credit Quality of Mortgage Loan

Credit Quality of Mortgage Loans by Type of Property (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	$ 92,992	$ 66,703
Less: reserves	(78)	(36)
Total mortgage loans on real estate, net	92,914	66,667
AAA - AA
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	31,835	21,378
A
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	49,084	$ 45,325
BBB
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	9,090
BBB - BB
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	$ 2,983

Summary of Securities Under Sec

Summary of Securities Under Securities Lending Agreements (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Securities Financing Transaction [Line Items]
Payables for collateral under securities loaned	$ 194,537	$ 265,880
Securities lending agreements
Securities Financing Transaction [Line Items]
Payables for collateral under securities loaned	194,537	265,236
Amortized cost of securities out on loan	162,698	215,195
Estimated fair value of securities out on loan	$ 188,689	$ 260,060

Summary of Securities Under Rev

Summary of Securities Under Reverse Repurchase Agreements (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Securities Financing Transaction [Line Items]
Payable for reverse repurchase agreements	$ 194,537	$ 265,880
Dollar roll repurchase agreement transactions
Securities Financing Transaction [Line Items]
Payable for reverse repurchase agreements		644
Amortized cost of securities pledged		634
Estimated fair value of securities pledged		$ 646

Collateral Maturities of Revers

Collateral Maturities of Reverse Repurchase Agreements and Securities Lending Transactions (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 0
Securities lending transactions	188,689
Total Borrowings	188,689
Gross amount of recognized liabilities for repurchase agreements and securities lending in balance sheets	194,537
Residential mortgage-backed securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Corporate securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	19,786
Equity securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	13,317
US Government Corporations and Agencies Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Securities lending transactions	155,586
Maturity Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Securities lending transactions	188,689
Total Borrowings	188,689
Maturity Overnight and Continuous | Residential mortgage-backed securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Maturity Overnight and Continuous | Corporate securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	19,786
Maturity Overnight and Continuous | Equity securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	13,317
Maturity Overnight and Continuous | US Government Corporations and Agencies Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Securities lending transactions	155,586
Maturity up to 30 Days
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Maturity up to 30 Days | Residential mortgage-backed securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	0
Maturity up to 30 Days | US Government Corporations and Agencies Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 0

Notional and Fair Value for Hed

Notional and Fair Value for Hedging Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative, notional value	$ 2,454,299	$ 1,123,726
Derivative, fair value	9,223	(17,689)
Non-qualifying hedging
Derivative [Line Items]
Derivative, notional value	2,404,415	1,073,842
Non-qualifying hedging | Future | Short
Derivative [Line Items]
Derivative, notional value	47,221	49,873
Non-qualifying hedging | Future | Long
Derivative [Line Items]
Derivative, notional value	51,573
Non-qualifying hedging | Interest Rate Swap
Derivative [Line Items]
Derivative, notional value	192,000
Derivative, fair value	(2,228)
Non-qualifying hedging | Variance swaps
Derivative [Line Items]
Derivative, notional value	675	1,059
Derivative, fair value	(1,525)	(3,243)
Non-qualifying hedging | Total Return Swap
Derivative [Line Items]
Derivative, notional value	1,315,900	852,910
Derivative, fair value	(1,429)	(17,941)
Non-qualifying hedging | Options
Derivative [Line Items]
Derivative, notional value	587,046
Derivative, fair value	11,055
Non-qualifying hedging | Credit Default Swaps
Derivative [Line Items]
Derivative, notional value	210,000	170,000
Derivative, fair value	65	2,017
Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional value	49,884	49,884
Derivative, fair value	3,285	1,478
Designated as Hedging Instrument | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional value	49,884	49,884
Derivative, fair value	$ 3,285	$ 1,478

Net Derivative Gains (Losses) R

Net Derivative Gains (Losses) Recognized in Statements of Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	$ (37,457)	$ (76,153)	$ (259,900)
Future | Short
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(2,002)	(7,819)	(33,021)
Future | Long
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(1,029)		41,073
Variance swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(2,838)	(5,118)	(6,964)
Total Return Swap
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(36,481)	(60,439)	26,941
Options
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	7,650
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(2,222)	(77)	(84)
Equity Collar
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses			$ (287,845)
Credit Default Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	$ (535)	$ (2,700)

Maximum Potential Amount of Fut

Maximum Potential Amount of Future Payments, Credit Rating and Maturity Dates for Credit Default Swaps (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Maximum Potential Amount of Future Payments	$ 210,000	$ 170,000
Corporate securities
Credit Derivatives [Line Items]
Maximum Potential Amount of Future Payments	$ 120,000	100,000
Corporate securities | Credit Rating
Credit Derivatives [Line Items]
Credit Rating	A
Sovereign Debt Securities
Credit Derivatives [Line Items]
Maximum Potential Amount of Future Payments	$ 90,000	$ 70,000
Sovereign Debt Securities | Credit Rating
Credit Derivatives [Line Items]
Credit Rating	AA-A
Minimum | Corporate securities
Credit Derivatives [Line Items]
Maturity Date Range	2017-06	2017-06
Minimum | Sovereign Debt Securities
Credit Derivatives [Line Items]
Maturity Date Range	2017-06	2017-06
Maximum | Corporate securities
Credit Derivatives [Line Items]
Maturity Date Range	2020-12	2020-12
Maximum | Sovereign Debt Securities
Credit Derivatives [Line Items]
Maturity Date Range	2020-03	2020-12

Components of Gain or Loss on D

Components of Gain or Loss on Derivatives Qualifying as Cash Flow Hedges (Detail) - Cash Flow Hedging - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 1,906	$ 483	$ 1,813
Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	5	(77)	(84)
Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	(99)	(761)	(57)
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	1,906	483	1,813
Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	5	(77)	(84)
Interest Rate Swap | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	$ (99)	$ (761)	$ (57)

Offsetting Derivatives Assets (

Offsetting Derivatives Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	$ 38,125	$ 5,467
Gross Amounts Offset in the Balance Sheet	27,232	4,412
Net Amounts of Assets Presented in the Balance Sheet	10,893	1,055
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	8,158
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0	0
Net Amount	2,735	1,055
Derivatives
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	38,125	5,467
Gross Amounts Offset in the Balance Sheet	27,232	4,412
Net Amounts of Assets Presented in the Balance Sheet	10,893	1,055
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	8,158
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0	0
Net Amount	$ 2,735	$ 1,055

Offsetting Derivative Liabiliti

Offsetting Derivative Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities, Derivatives	$ 28,902	$ 23,156
Gross Amounts Offset in the Balance Sheet, Derivatives	15,827	4,412
Net Amounts of Liabilities Presented in the Balance Sheet, Derivatives	13,075	18,744
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments, Derivatives	10,847	17,637
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Pledged, Total	0	0
Net Amount, Derivatives	2,228	1,107
Derivatives
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities, Derivatives	28,902	23,156
Gross Amounts Offset in the Balance Sheet, Derivatives	15,827	4,412
Net Amounts of Liabilities Presented in the Balance Sheet, Derivatives	13,075	18,744
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments, Derivatives	10,847	17,637
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Pledged, Total	0	0
Net Amount, Derivatives	$ 2,228	$ 1,107

Net Investment Income By Source

Net Investment Income By Source (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Investment Income [Line Items]
Gross investment income	$ 116,838	$ 120,348	$ 126,657
Less investment expenses	(4,654)	(3,410)	(5,524)
Net investment income	112,184	116,938	121,133
Limited partnership
Net Investment Income [Line Items]
Gross investment income	(778)	436	(153)
Fixed maturity AFS securities
Net Investment Income [Line Items]
Gross investment income	70,495	72,568	80,560
Policy loans
Net Investment Income [Line Items]
Gross investment income	35,435	36,765	38,334
Cash and Cash Equivalents
Net Investment Income [Line Items]
Gross investment income	649	559	619
Equity securities
Net Investment Income [Line Items]
Gross investment income	2,061	2,091	2,083
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income	4,111	3,100	3,275
Derivatives
Net Investment Income [Line Items]
Gross investment income	4,631	4,478	1,573
Other
Net Investment Income [Line Items]
Gross investment income	$ 234	$ 351	$ 366

Proceeds and Gross Realized Inv

Proceeds and Gross Realized Investment Gains (Losses) from Sale of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Proceeds	$ 226,843	$ 106,257	$ 756,322
Gross realized investment gains	6,722	4,754	9,598
Gross realized investment losses	(3,119)	(867)	(13,787)
Proceeds on AFS securities sold at a realized loss	$ 74,724	$ 27,987	$ 296,028

Net Realized Investment Gains (

Net Realized Investment Gains (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	$ 1,690	$ 2,628	$ (4,495)
Fixed maturity AFS securities
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	1,380	3,753	(5,103)
Equity securities
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	350	30	171
Mortgage loans on real estate
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	313	(1,997)	(2)
Valuation of business acquired
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	$ (353)	$ 842	$ 439

Credit Loss Impairments on Fixe

Credit Loss Impairments on Fixed Maturity Securities, Other-Than-Temporary Impairment Loss Recognized in Other Comprehensive Income, and Corresponding Changes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Balance at beginning of period	$ (185)	$ 714
Credit loss impairment recognized in the current period on securities not previously impaired	1,764
Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income	109	104
Accretion of credit loss impairments previously recognized	(859)	(1,003)
Balance at end of period	$ 829	$ (185)

Components of Other-Than-Tempor

Components of Other-Than-Temporary Impairments Reflected in Statements of Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses	$ 1,873	$ 104	$ 708
Available-for-sale Securities
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Gross OTTI losses on securities	$ 1,873	$ 104	743
Value of business acquired amortization
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Net OTTI losses			$ (35)

Change in Carrying Amount of Va

Change in Carrying Amount of Value of Business Acquired (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition, Acquisition Related Costs [Line Items]
Balance at beginning of period	$ 268,079
Adjustment related to realized gains on investments and OTTI	1,690	$ 2,628	$ (4,495)
Balance at end of period	259,493	268,079
Valuation of business acquired
Business Acquisition, Acquisition Related Costs [Line Items]
Balance at beginning of period	268,079	284,602
Amortization expense	(22,478)	(17,405)
Unlocking	114	6,565
Adjustment related to realized gains on investments and OTTI	(353)	842	439
Adjustment related to unrealized (gains) losses	14,131	(6,525)
Balance at end of period	$ 259,493	$ 268,079	$ 284,602

Estimated Future Amortization o

Estimated Future Amortization of Value of Business Acquired (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Schedule Of Estimated Future Amortization Expense [Line Items]
2,016	$ 22,425
2,017	21,147
2,018	19,721
2,019	18,276
2,020	$ 17,047

Change in Carrying Amount of De

Change in Carrying Amount of Deferred Policy Acquisition Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
DAC
Beginning Balance	$ 41,127	$ 34,869
Capitalization	156	190
Accretion(amortization)expense	(2,310)	3,690
Unlocking	(1,473)	2,378
Ending Balance	$ 37,500	$ 41,127

Change in Carrying Amount of 68

Change in Carrying Amount of Deferred Sales Inducements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
DSI
Beginning Balance	$ 9,351	$ 7,544
Capitalization	22	27
Accretion(amortization)	(521)	917
Unlocking	(335)	863
Ending Balance	$ 8,517	$ 9,351

Variable Contracts Containing69

Variable Contracts Containing Guaranteed Benefits - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Variable Annuity Contracts
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Guaranteed minimum income benefit waiting period from contract issue	10 years

Variable Annuity Contracts Cont

Variable Annuity Contracts Containing Guaranteed Benefits (Detail) - Variable Annuity Contracts - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Net amount at risk	[1]	$ 839,586	$ 717,444
Average attained age of contract owners		71 years	72 years
GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
Net amount at risk	[1]	$ 21,371	$ 9,511
Average attained age of contract owners		66 years	66 years
Weighted average period remaining until expected annuitization		1 year 8 months 12 days	1 year 8 months 12 days
GMWB
Net Amount at Risk by Product and Guarantee [Line Items]
Net amount at risk	[1]	$ 8,912	$ 3,861
Average attained age of contract owners		75 years	74 years
[1]	Net amount at risk for GMDB is defined as the current GMDB in excess of the contract owners' account balance at the Balance Sheet date. Net amount at risk for GMIB is defined as the present value of the minimum guaranteed annuity payments available to the contract owner in excess of the contract owners' account balance at the Balance Sheet date. Net amount at risk for GMWB is defined as the difference between the maximum amount payable under the guarantee and the contract owners' account balance at the Balance Sheet date. The definition for net amount at risk on GMWB was changed to be in compliance with the industry definition. The net amount at risk for GMWB at December 31, 2014 was corrected from $119,712 to $3,861 to reflect this updated definition.

Variable Annuity Contracts Co71

Variable Annuity Contracts Containing Guaranteed Benefits (Parenthetical) (Detail) - Variable Annuity Contracts - GMWB - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Net Amount at Risk by Product and Guarantee [Line Items]
Net amount at risk	[1]	$ 8,912	$ 3,861
Previously Reported
Net Amount at Risk by Product and Guarantee [Line Items]
Net amount at risk			$ 119,712
[1]	Net amount at risk for GMDB is defined as the current GMDB in excess of the contract owners' account balance at the Balance Sheet date. Net amount at risk for GMIB is defined as the present value of the minimum guaranteed annuity payments available to the contract owner in excess of the contract owners' account balance at the Balance Sheet date. Net amount at risk for GMWB is defined as the difference between the maximum amount payable under the guarantee and the contract owners' account balance at the Balance Sheet date. The definition for net amount at risk on GMWB was changed to be in compliance with the industry definition. The net amount at risk for GMWB at December 31, 2014 was corrected from $119,712 to $3,861 to reflect this updated definition.

Changes in Variable Annuity Gua

Changes in Variable Annuity Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits Liabilities (Detail) - Variable Annuity Contracts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning Balance	$ 112,095	$ 122,490
Guaranteed benefits incurred	26,864	29,372
Guaranteed benefits paid	(25,063)	(27,516)
Unlocking	17,482	(12,251)
Ending Balance	131,378	112,095
GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning Balance	69,775	63,804
Guaranteed benefits incurred	11,919	11,655
Guaranteed benefits paid	(1,198)	(1,261)
Unlocking	14,552	(4,423)
Ending Balance	$ 95,048	$ 69,775

Contract Owners' Account Balanc

Contract Owners' Account Balances by Mutual Fund Class by Guaranteed Benefit Provisions (Detail) - Variable Annuity Contracts - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	$ 4,557,771	$ 5,253,303
GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	2,265,539	2,603,045
GMDB and GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	1,378,967	1,589,490
GMDB and GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	527,308	614,144
GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	216,721	252,665
GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	134,060	156,677
Non Guaranteed Obligations
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	35,176	37,282
Equity
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	2,659,521	3,090,886
Equity | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	1,313,314	1,526,652
Equity | GMDB and GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	831,162	963,229
Equity | GMDB and GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	299,298	350,195
Equity | GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	124,192	144,587
Equity | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	75,495	88,566
Equity | Non Guaranteed Obligations
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	16,060	17,657
Bond
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	928,425	961,476
Bond | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	459,890	508,580
Bond | GMDB and GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	273,085	273,678
Bond | GMDB and GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	117,689	106,693
Bond | GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	47,519	43,950
Bond | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	24,642	23,688
Bond | Non Guaranteed Obligations
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	5,600	4,887
Balanced
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	478,045	558,289
Balanced | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	367,161	421,177
Balanced | GMDB and GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	105,572	130,170
Balanced | GMDB and GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	1,876	2,712
Balanced | GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	1,239	1,805
Balanced | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	1,587	1,840
Balanced | Non Guaranteed Obligations
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	610	585
Money Market
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	491,780	642,652
Money Market | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	125,174	146,636
Money Market | GMDB and GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	169,148	222,413
Money Market | GMDB and GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	108,445	154,544
Money Market | GMWB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	43,771	62,323
Money Market | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	32,336	42,583
Money Market | Non Guaranteed Obligations
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners account balances, guaranteed benefit liabilities	$ 12,906	$ 14,153

Contract Owners' Account Bala74

Contract Owners' Account Balances by Mutual Fund Class for Contracts Containing Guaranteed Minimum Death Benefit Provisions (Detail) - Variable Life - GMDB - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners' account balances, guarantee benefit liabilities net	$ 1,382,894	$ 1,518,066
Balanced
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners' account balances, guarantee benefit liabilities net	608,486	671,430
Equity
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners' account balances, guarantee benefit liabilities net	533,700	578,149
Bond
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners' account balances, guarantee benefit liabilities net	135,117	154,326
Money Market
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Contract owners' account balances, guarantee benefit liabilities net	$ 105,591	$ 114,161

Reconciliation of Provision for

Reconciliation of Provision for Income Taxes Based on Income (Loss) Before Federal Income Taxes, Computed using Federal Statutory Rate Versus Reported Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Effective Income Tax Rate [Line Items]
Provisions for income taxes computed at Federal statutory rate (35%)	$ 3,129	$ 13,635	$ (48,278)
Increase (decrease) in income taxes resulting from:
Dividend received deduction	(6,622)	(7,861)	(8,960)
Tax credits	(302)	(416)	(520)
Valuation allowance on deferred tax assets	(1,497)	(510)	133,499
Provision to return adjustment	498	558	(1,740)
State taxes (benefits)	(287)	(92)	2,082
Unrecognized tax benefits	363	110	283
Income Tax Expense (Benefit)	$ (4,718)	$ 5,424	$ 76,366

Reconciliation of Provision f76

Reconciliation of Provision for Income Taxes Based on Income (Loss) Before Federal Income Taxes, Computed using Federal Statutory Rate Versus Reported Provision for Income Taxes (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Effective Income Tax Rate [Line Items]
Federal statutory rate	35.00%	35.00%	35.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments, Owned, Federal Income Tax Note [Line Items]
Federal statutory rate	35.00%	35.00%	35.00%
Valuation allowance for deferred tax assets	$ 130,946	$ 113,406
Unrecognized income tax benefit, net	3,404	3,041	$ 2,931
Unrecognized income tax benefit, gross	9,727	8,689
Operating loss carryforward	$ 577,762	505,102
Operating loss carryforward, expiration period	15 years
Alternative minimum tax credit carryforward	$ 4,216	4,216
Penalties expense related to federal income tax	0	0
Interest income related to federal income tax	86	(1)	$ (1)
Capital contributions from AEGON USA, LLC	68,492	179,029
Foreign
Investments, Owned, Federal Income Tax Note [Line Items]
Tax credit carryforward	$ 8,869	$ 8,574
Foreign tax credit carryforward, expiration date in year	10 years	10 years
Capital Loss Carryforward
Investments, Owned, Federal Income Tax Note [Line Items]
Tax credit carryforward	$ 84	$ 2,468
Capital loss tax credit carryforward, expiration date in year	5 years	5 years
Capital loss tax credit carryforward, expiration year	2,018	2,018
Maximum
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carryforward, expiration year	2,030
Maximum | Foreign
Investments, Owned, Federal Income Tax Note [Line Items]
Foreign tax credit carryforward, expiration year	2,025	2,025

Deferred Tax Assets and Liabili

Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets
Tax DAC	$ 29,634	$ 44,525
Net operating and capital loss carry forward	210,363	184,806
Intangible assets	34,942	40,355
Policy holder reserves	22,955	39,840
Tax credits	13,084	12,790
Other	1,528	1,652
Total deferred tax assets	312,506	323,968
Valuation allowance	(130,946)	(113,406)
Net deferred tax assets	181,560	210,562
Deferred tax liabilities
Book DAC and VOBA	109,789	115,270
Policy holder reserves	26,740	31,440
Investments	45,139	68,686
Total deferred tax liabilities	181,668	215,396
Total net deferred tax asset (liability)	$ (108)	$ (4,834)

Provision for Income Tax Expens

Provision for Income Tax Expense (Benefits) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax [Line Items]
Current federal income tax expense (benefit)		$ 181	$ (61)
Current state income tax expense (benefit)	$ 9		158
Deferred federal income tax expense (benefit)	(4,275)	5,385	73,218
Deferred state income tax expense (benefit)	(452)	(142)	3,051
Income Tax Expense (Benefit)	$ (4,718)	$ 5,424	$ 76,366

Provision for Income Tax Asset

Provision for Income Tax Asset (Liability) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Net income tax receivable (payable)	$ (574)	$ (5,109)
State and Local Jurisdiction
Income Tax [Line Items]
Current income tax receivable (payable)	(287)	(96)
Deferred income tax receivable (payable)	1,512	1,061
Internal Revenue Service (IRS)
Income Tax [Line Items]
Current income tax receivable (payable)	(179)	(179)
Deferred income tax receivable (payable)	$ (1,620)	$ (5,895)

Components of Change in Unrecog

Components of Change in Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Balance at beginning of period	$ 3,041	$ 2,931
Additions for tax positions of prior years	363	110
Additions for tax positions of current year	293
Reductions for tax positions of current year	(293)
Balance at end of period	$ 3,404	$ 3,041

Accumulated Other Comprehensi82

Accumulated Other Comprehensive Income by Component (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	$ 109,242	$ 39,703		$ 96,710
OCI before reclassifications	[1]	(54,139)	68,393		(34,216)
Amounts reclassified from AOCI	[1]	1,488	1,146		(22,791)
Total other comprehensive income (loss), net of taxes	[1]	(52,651)	69,539		(57,007)
Ending balance	[1]	56,591	109,242		39,703
Unrealized Holding Gains (Losses) on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	164,221	88,640		212,660
OCI before reclassifications		(70,077)	75,196	[1]	(101,172)	[1]
Amounts reclassified from AOCI		1,389	385	[1]	(22,848)	[1]
Total other comprehensive income (loss), net of taxes		(68,688)	75,581	[1]	(124,020)	[1]
Ending balance		95,533	164,221	[1]	88,640	[1]
Unrealized Holding Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	2,296	1,813
OCI before reclassifications		1,807	(278)	[1]	1,756	[1]
Amounts reclassified from AOCI		99	761	[1]	57	[1]
Total other comprehensive income (loss), net of taxes		1,906	483	[1]	1,813	[1]
Ending balance		4,202	2,296	[1]	1,813	[1]
OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(57,275)	(50,750)		(115,950)
OCI before reclassifications		14,131	(6,525)		65,200
Total other comprehensive income (loss), net of taxes		14,131	(6,525)		65,200
Ending balance		$ (43,144)	$ (57,275)		$ (50,750)
[1]	All amounts are net of tax.

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains (losses)		$ 1,690	$ 2,628		$ (4,495)
Net investment income		112,184	116,938		121,133
Portion of OTTI previously recognized in OCI		1,873	104		356
Income (Loss) Before Taxes		8,940	38,957		(137,936)
Income Tax Expense (Benefit)		(4,718)	5,424		76,366
Net of tax		13,658	33,533		(214,302)
Total amounts reclassified from AOCI, net of tax	[1]	(1,488)	(1,146)		22,791
Unrealized Holding Gains (Losses) on AFS Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total amounts reclassified from AOCI, net of tax		(1,389)	(385)	[1]	22,848	[1]
Unrealized Holding Gains (Losses) on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total amounts reclassified from AOCI, net of tax		(99)	(761)	[1]	(57)	[1]
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total amounts reclassified from AOCI, net of tax		(1,488)	(1,146)		14,700
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Holding Gains (Losses) on AFS Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains (losses)		484	(281)		23,204
Portion of OTTI previously recognized in OCI		(1,873)	(104)		(356)
Income (Loss) Before Taxes		(1,389)	(385)		22,848
Income Tax Expense (Benefit)					8,111
Net of tax		(1,389)	(385)		14,737
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Holding Gains (Losses) on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment income		(99)	(761)		(57)
Income (Loss) Before Taxes		(99)	(761)		(57)
Income Tax Expense (Benefit)					(20)
Net of tax		$ (99)	$ (761)		$ (37)
[1]	All amounts are net of tax.

Stockholder's Equity and Stat84

Stockholder's Equity and Statutory Accounting Principles - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	$ (24,119)	$ 201,479	$ 196,612
Statutory capital and surplus	790,252	912,090
Dividend distribution not require approval	79,025	309,501
Cash dividend paid to AEGON USA, LLC		100,000
Capital contributions from AUSA	68,492	$ 179,029
Additional Paid-in Capital
Statutory Accounting Practices [Line Items]
Return of capital to AEGON USA, LLC	$ 100,000

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Account value for variable annuity contracts reinsured	$ 1,000,000
Reinsurance receivables - net	68,000
Reinsurance payables - net		$ 49,000
Reinsurance reserve	0	0
GMIB
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Account value for variable annuity contracts reinsured	$ 520,326	$ 617,000
Percentage of account value for variable annuity contracts reinsured	34.00%	35.00%
GMDB
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Account value for variable annuity contracts reinsured	$ 182,378	$ 217,308
Percentage of account value for variable annuity contracts reinsured	4.00%	5.00%

Life Insurance Inforce (Detail)

Life Insurance Inforce (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Effects of Reinsurance [Line Items]
Gross amount	$ 4,959,237
Ceded to other companies	188,984
Assumed from other companies	883
Net amount	$ 4,771,136
Percentage of amount assumed to net	0.02%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 19, 2015	Jun. 27, 2014	May. 21, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements				$ 10,818	$ 9,690	$ 10,751
Intercompany short-term note receivable	$ 25,000	$ 50,000	$ 50,000	25,000
Interest on intercompany note receivable	0.13%	0.11%	0.10%
Intercompany short-term note receivable, due date	Jun. 18, 2016	Dec. 31, 2014	Dec. 31, 2013
Interest income accrued and/or received due to intercompany arrangements				18	27	29
AEGON USA Investment Management LLC
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements				1,709	1,770	1,673
AEGON USA Realty Advisors, LLC
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements				149	89	90
Mortgage loan origination fees				0	0	0
Transamerica Capital, Inc.
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements				30,356	30,836	32,414
Transamerica Asset Management, Inc.
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements				361	406	410
Distribution and shareholder services agreement
Related Party Transaction [Line Items]
Revenue from participation agreement				$ 2,381	$ 2,584	$ 1,873

Affiliated Purchasing and Selli

Affiliated Purchasing and Selling of Investments Between Affiliated Companies (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Investments purchased from related parties	$ 475,044	$ 476,897	$ 917,337
Investments purchased from related parties, Limited partnerships		60,000
Investments purchased from related parties, Derivatives	135,918	119,059	303,826
Investments sold to related parties	226,843	106,257	756,322
Investments sold to related parties, Derivatives	76,494	18,828	76,288
Affiliated companies
Related Party Transaction [Line Items]
Investments purchased from related parties, Limited partnerships		60,000
Investments purchased from related parties, Derivatives			15,097
Investments sold to related parties, Derivatives	82
Affiliated companies | Fixed maturity AFS securities
Related Party Transaction [Line Items]
Investments purchased from related parties	30,356	137,281
Investments sold to related parties	24,878	24,844	$ 1,698
Affiliated companies | Mortgage loans on real estate
Related Party Transaction [Line Items]
Investments purchased from related parties	$ 4,000
Investments sold to related parties		$ 2,038

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies [Line Items]
Estimated liability for future guarantee fund assessment	$ 144	$ 144
Receivable for future premium tax deduction	$ 4,240	$ 4,473

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015Segment
Segment Reporting Information [Line Items]
Number of reportable segment	2

Business Segment's Contribution

Business Segment's Contribution to Select Statements of Income Information (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net revenues	[1]	$ 188,249	$ 166,727	$ (22,567)
Amortization of VOBA		22,364	10,840	4,770
Policy benefits (net of reinsurance recoveries)		105,246	77,877	46,872
Income tax expense		(4,718)	5,424	76,366
Net income		13,658	33,533	(214,302)
Annuity
Segment Reporting Information [Line Items]
Net revenues	[1]	114,666	91,381	(96,213)
Amortization of VOBA		8,110	928	34
Policy benefits (net of reinsurance recoveries)		68,984	38,893	6,421
Income tax expense		(9,297)	(2,796)	62,353
Net income		(717)	19,224	(224,439)
Life Insurance
Segment Reporting Information [Line Items]
Net revenues	[1]	73,583	75,346	73,646
Amortization of VOBA		14,254	9,912	4,736
Policy benefits (net of reinsurance recoveries)		36,262	38,984	40,451
Income tax expense		4,579	8,220	14,013
Net income		$ 14,375	$ 14,309	$ 10,137
[1]	Net revenues include total revenues net of interest credited to policyholder liabilities.

Selected Balance Sheet Informat

Selected Balance Sheet Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Supplemental Balance Sheet Information [Line Items]
Total Assets	$ 9,165,935	$ 10,170,075
Total policyholder liabilities	1,706,192	1,722,534
Annuity
Supplemental Balance Sheet Information [Line Items]
Total Assets	6,396,511	7,181,270
Total policyholder liabilities	609,363	584,370
Life Insurance
Supplemental Balance Sheet Information [Line Items]
Total Assets	2,769,424	2,988,805
Total policyholder liabilities	$ 1,096,829	$ 1,138,164