Transamerica Advisors Life Insurance 10-Q 12 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	TRANSAMERICA ADVISORS LIFE INSURANCE CO
Entity Central Index Key	845,091
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	250,000

BALANCE SHEETS

BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments
Fixed maturity available-for-sale securities, at estimated fair value (amortized cost: 2016 - $1,563,773; 2015 - $1,570,693)	$ 1,745,072	$ 1,665,337
Equity available-for-sale securities, at estimated fair value (cost: 2016 - $32,548; 2015 - $33,777 )	33,827	34,667
Limited partnerships	69,489	63,489
Mortgage loans on real estate	106,949	92,914
Policy loans	639,350	661,466
Derivative assets	1,123	10,893
Total investments	2,595,810	2,528,766
Cash and cash equivalents	332,075	236,482
Accrued investment income	36,947	34,481
Deferred policy acquisition costs	37,078	37,500
Deferred sales inducements	8,420	8,517
Value of business acquired	234,554	259,493
Goodwill	2,800	2,800
Income tax asset	1,512	1,512
Reinsurance receivables	541	68
Affiliated short-term note receivable		25,000
Receivable for investments sold - net		777
Other assets	25,075	28,448
Recoverable of ceded Guaranteed Minimum Income Benefits embedded derivatives, at fair value	73,834	61,426
Separate Accounts assets	5,668,318	5,940,665
Total Assets	9,016,964	9,165,935
Policyholder liabilities and accruals
Policyholder account balances	1,118,444	1,154,871
Future policy benefits	552,500	518,911
Claims and claims settlement expenses	33,187	32,410
Total policyholder liabilities and accruals	1,704,131	1,706,192
Payables for collateral under securities loaned, reverse repurchase agreements and derivatives	297,136	194,537
Checks not yet presented for payment	9,489	9,918
Derivative liabilities	2,470	13,075
Income tax liability	2,086	2,086
Affiliated payables - net	5,439	2,875
Reinsurance payables	211
Payable for investments purchased - net	45,952
Other liabilities	4,552	5,086
Separate Accounts liabilities	5,668,318	5,940,665
Total Liabilities	7,739,784	7,874,434
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	1,500,656	1,514,157
Accumulated other comprehensive income, net of taxes	131,674	56,591
Retained deficit	(357,650)	(281,747)
Total Stockholder's Equity	1,277,180	1,291,501
Total Liabilities and Stockholder's Equity	$ 9,016,964	$ 9,165,935

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fixed maturity available-for-sale securities, amortized cost	$ 1,563,773	$ 1,570,693
Equity available-for-sale securities, cost	$ 32,548	$ 33,777
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	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Policy charge revenue	$ 37,860	$ 42,745	$ 74,899	$ 85,461
Net investment income	27,614	28,416	54,066	57,943
Net realized investment gains (losses)
Other-than-temporary impairment losses on securities	(1,015)	(1,764)	(4,563)	(1,764)
Portion of other-than-temporary impairments previously recognized in other comprehensive income (loss)		(102)	(121)	(102)
Net other-than-temporary impairment losses on securities recognized in income	(1,015)	(1,866)	(4,684)	(1,866)
Net realized investment gains, excluding other-than-temporary impairment losses on securities	1,072	720	4,607	863
Net realized investment gains (losses)	57	(1,146)	(77)	(1,003)
Net derivative losses	(6,665)	(13,291)	(3,294)	(34,213)
Total Revenues	58,866	56,724	125,594	108,188
Benefits and Expenses
Interest credited to policyholder liabilities	13,953	13,546	27,983	26,292
Policy benefits (net of reinsurance recoveries: 2016 - $420; $1,207; 2015 - $1,456; $2,032)	21,859	24,526	64,913	37,831
Amortization (accretion) of deferred policy acquisition costs	(500)	5,189	442	3,838
Amortization of value of business acquired	7,611	6,779	12,991	11,633
Insurance expenses and taxes	10,242	11,639	20,168	22,896
Total Benefits and Expenses	53,165	61,679	126,497	102,490
Income (Loss) Before Taxes	5,701	(4,955)	(903)	5,698
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss)	$ 5,701	$ (4,955)	$ (903)	$ 5,698

STATEMENTS OF INCOME (Parenthet

STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Policy benefits, reinsurance recoveries	$ 420	$ 1,456	$ 1,207	$ 2,032

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income (Loss)		$ 5,701	$ (4,955)	$ (903)	$ 5,698
Net unrealized gains (losses) on available-for-sale securities
Net unrealized holding gains (losses) arising during the period		40,686	(68,253)	89,409	(42,682)
Reclassification adjustment for (gains) losses included in net income (loss)		68	(42)	(1,732)	1,120
Total net unrealized gains (losses) on available-for-sale securities		40,754	(68,295)	87,677	(41,562)
Net unrealized gains (losses) on cash flow hedges
Net unrealized gains (losses) on cash flow hedges arising during the period		1,290	(362)	140	726
Reclassification adjustment for (gains) losses included in net income (loss)		513	626	316	(174)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Total		1,803	264	456	552
Net unrealized other-than-temporary impairments on securities
Change in previously recognized unrealized other-than-temporary impairments		100	(33)	(755)	29
Reclassification adjustment for other-than-temporary impairments included in net income (loss)			102	121	102
Net unrealized other-than-temporary impairments on securities		100	69	(634)	131
Adjustments
Value of business acquired		(7,318)	8,881	(12,416)	5,719
Other Comprehensive Income, Adjustments		(7,318)	8,881	(12,416)	5,719
Total other comprehensive income (loss), net of taxes	[1]	35,339	(59,081)	75,083	(35,160)
Comprehensive Income (Loss)		$ 41,040	$ (64,036)	$ 74,180	$ (29,462)
[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		Retained Deficit
Balance at beginning of period at Dec. 31, 2014				$ 2,500	$ 1,545,665	$ 109,242	[1]	$ (295,405)
Net Income (Loss)		$ 5,698
Total other comprehensive income (loss), net of taxes	[1]	(35,160)
Balance at end of period at Jun. 30, 2015	[1]					74,082
Balance at beginning of period at Dec. 31, 2014				2,500	1,545,665	109,242	[1]	(295,405)
Capital contributions from AEGON USA, LLC					68,492
Net Income (Loss)								13,658
Total other comprehensive income (loss), net of taxes						(52,651)
Cash dividend paid					(100,000)
Balance at end of period at Dec. 31, 2015		1,291,501		2,500	1,514,157	56,591	[1]	(281,747)
Balance at beginning of period at Mar. 31, 2015	[1]					133,163
Net Income (Loss)		(4,955)
Total other comprehensive income (loss), net of taxes	[1]	(59,081)
Balance at end of period at Jun. 30, 2015	[1]					74,082
Balance at beginning of period at Dec. 31, 2015		1,291,501		2,500	1,514,157	56,591	[1]	(281,747)
Net Income (Loss)		(903)						(903)
Total other comprehensive income (loss), net of taxes		75,083	[1]			75,083
Cash dividend paid		(13,501)			(13,501)			(75,000)
Balance at end of period at Jun. 30, 2016		1,277,180		2,500	1,500,656	131,674	[1]	(357,650)
Balance at beginning of period at Mar. 31, 2016	[1]					96,335
Net Income (Loss)		5,701
Total other comprehensive income (loss), net of taxes	[1]	35,339
Balance at end of period at Jun. 30, 2016		$ 1,277,180		$ 2,500	$ 1,500,656	$ 131,674	[1]	$ (357,650)
[1]	All amounts are net of tax.

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)		$ (903)	$ 5,698
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Change in deferred policy acquisition costs		422	3,764
Change in deferred sales inducements		97	864
Change in value of business acquired		12,991	11,633
Change in benefit reserves, net of change in ceded reinsurance recoverable		26,308	2,415
Change in income tax accruals			9
Change in claims and claims settlement expenses		777	6,009
Change in other operating assets and liabilities - net		(10,033)	2,389
Change in checks not yet presented for payment		(429)	(6,272)
Amortization of investments		(452)	1,770
Limited partnership asset distributions		1
Interest credited to policyholder liabilities		27,983	26,292
Net derivative gains		3,294	34,213
Net realized investment losses		77	1,003
Net cash and cash equivalents provided by operating activities		60,133	89,787
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of available-for-sale securities and mortgage loans		199,431	92,490
Maturities of available-for-sale securities and mortgage loans		138,364	189,440
Purchases of available-for-sale securities and mortgage loans		(297,825)	(257,896)
Sales of limited partnerships		2,516	252
Purchases of limited partnerships		(11,145)
Change in affiliated short-term note receivable		25,000	(25,000)
Cash received in connection with derivatives		21,338	18,547
Cash paid in connection with derivatives		(34,410)	(82,632)
Policy loans on insurance contracts - net		22,116	15,921
Net settlement on futures contracts		4,532	(1,359)
Other		2,628	(1,557)
Net cash and cash equivalents provided by/(used in) investing activities		72,545	(51,794)
CASH FLOWS FROM FINANCING ACTIVITIES
Policyholder deposits		5,510	9,834
Policyholder withdrawals		(75,048)	(70,697)
Capital contributions from AEGON USA, LLC			6,842
Cash dividend paid to Transamerica Corporation		(75,000)
Return of capital to Transamerica Corporation	[1]	(12)
Change in payables for collateral under securities loaned, reverse repurchase agreements and derivatives		107,465	2,170
Net cash and cash equivalents used in financing activities		(37,085)	(51,851)
Net increase (decrease) in cash and cash equivalents	[2]	95,593	(13,859)
Cash and cash equivalents, beginning of year		236,482	235,034
Cash and cash equivalents, end of period		$ 332,075	$ 221,176
[1]	Not included in return of capital to Transamerica Corporation is the amount payable to Transamerica Corporation in connection with the tax allocation agreement of $13,489. The amount payable is presented on the Balance Sheets within the affiliated payables - net line item.
[2]	Included in net increase in cash and cash equivalents is interest paid (2016 - $37; 2015 - $8).

STATEMENTS OF CASH FLOWS (Paren

STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Capital payable to Transamerica Corporation	$ 13,489
Interest paid	$ 37	$ 8

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
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 (“AUSA”) 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. For a complete discussion of the Company’s 2015 Financial Statements and accounting policies, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The interim Financial Statements are unaudited; all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the Financial Statements have been included. These unaudited Financial Statements should be read in conjunction with the audited Financial Statements included in the 2015 Annual Report on Form 10-K. The nature of the Company’s business is such that results of any interim period are not necessarily indicative of results for a full year. The Company is a life insurance company that 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 may continue to make subsequent contributions, as permitted by the terms of the CDA contract. 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. 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: the 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. Derivatives and Hedge Accounting Derivatives are 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, the Company only has 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 other comprehensive income (“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. 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. 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 that require adjustments to the Financial Statements. Future Accounting Guidance Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instrument In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) Contingent Put and Call Options in Debt Instruments ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients Deferral of the Effective Date ASU 2016-01, Financial Instruments - Overall In January 2016, FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
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 tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015: June 30, 2016 Level 1 Level 2 Level 3 Total Assets Fixed maturity available-for-sale (“AFS”) securities (a) Corporate securities $ - $ 1,022,552 $ - $ 1,022,552 Asset-backed securities - 77,637 6,760 84,397 Commercial mortgage-backed securities - 81,517 - 81,517 Residential mortgage-backed securities - 161,539 - 161,539 Municipals - 807 - 807 Government and government agencies United States 386,018 - - 386,018 Foreign 1,525 6,717 - 8,242 Total fixed maturity AFS securities (a) $ 387,543 $ 1,350,769 $ 6,760 $ 1,745,072 Equity AFS securities (a) Banking securities $ - $ 27,938 $ - $ 27,938 Industrial securities - 5,889 - 5,889 Total equity AFS securities (a) $ - $ 33,827 $ - $ 33,827 Cash equivalents (b) - 330,702 - 330,702 Derivative assets (c) - 1,123 - 1,123 Limited partnerships (d) - 59,113 10,376 69,489 Fair value recoverable of ceded GMIB embedded derivatives (e) - - 73,834 73,834 Separate Accounts assets (f) 5,668,318 - - 5,668,318 Total assets $ 6,055,861 $ 1,775,534 $ 90,970 $ 7,922,365 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 85,001 $ 85,001 Derivative liabilities (c) - 2,470 - 2,470 Total liabilities $ - $ 2,470 $ 85,001 $ 87,471 December 31, 2015 Level 1 Level 2 Level 3 Total Assets Fixed maturity 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 AFS securities (a) Banking securities $ - $ 28,673 $ - $ 28,673 Industrial securities - 5,994 - 5,994 Total equity AFS 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 Fair value 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 (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 June 30, 2016 and December 31, 2015, there were no fixed maturity AFS securities 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 investments in two limited partnerships for which the fair values are derived from management’s review of the financial information that is obtained from the private equity funds and prepared on a GAAP basis and are considered Level 3 measurements. The valuation input of these financial statements is on a one quarter lag. (e) Guaranteed minimum income benefit (“GMIB”) reinsurance is treated as embedded derivatives and is reported as a recoverable of ceded GMIB embedded derivatives, at fair value in the 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 two 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. For the six months ended June 30, 2016 and twelve months ended December 31, 2015, 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 June 30, 2016 and December 31, 2015: Six Months Ended June 30, 2016 Twelve Months Ended Limited Fixed Limited Fixed Balance at beginning of period (a) $ 2,116 $ 6,666 $ 4,086 $ 8,474 Change in unrealized losses (b) - 166 - (376 ) Purchases 11,145 - - 1,999 Sales (2,516 ) (65 ) (252 ) (126 ) Transfers into Level 3 - 1,947 - 2,049 Transfers out of Level 3 - (1,954 ) - (5,354 ) Changes in valuation (c) (368 ) - (1,718 ) - Net realized investment gains (d) (1 ) - - - Balance at end of period (a) $ 10,376 $ 6,760 $ 2,116 $ 6,666 (a) Recorded as a component of limited partnerships and fixed maturity AFS securities 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. (d) Recorded as a component of net realized investment gains (losses) for fixed maturity and net investment income for limited partnerships in the Statements of Income. In certain circumstances, the Company will obtain non-binding broker 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 investments. If not, the investments are classified as Level 3 due to the unobservable nature of the brokers’ valuation processes. Level 3 fixed maturity securities at June 30, 2016 remained fairly consistent with the December 31, 2015 balance due to two asset backed securities being transferred from Level 2 to Level 3 due to the unavailability of market observable data (Level 2) during the second quarter of 2016. This was offset by the same two securities being transferred from Level 3 to Level 2 due to the availability of market observable data (Level 2) during the first quarter of 2016. 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 liability measurement and an increase (decrease) in volatility in isolation would result in a higher (lower) fair value liability measurement. Changes in the Company’s credit spread and volatility assumptions have an inverse effect on the GMIB reinsurance assets. The expected market rates of returns are based on risk-free rates, such as the current London Inter-Bank Offered Rate (“LIBOR”) forward curve. The credit spread, which is a 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 50 basis points (“bps”) and 40 bps at June 30, 2016 and December 31, 2015, 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 24.4% and 24.2% at June 30, 2016 and December 31, 2015, 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 June 30, 2016 and December 31, 2015: Six Months Ended June 30, 2016 Twelve Months Ended December 31, 2015 GMWB GMIB SALB GMWB GMIB SALB Balance at beginning of period (a) $ 60,618 $ (61,426 ) $ 511 $ 60,702 $ (60,573 ) $ 504 Changes in interest rates (b) 20,657 (13,069 ) - (1,890 ) 979 - Changes in equity markets (b) 3,361 808 - 9,182 (1,976 ) 7 Other (b) (146 ) (147 ) - (7,376 ) 144 - Balance at end of period (a) $ 84,490 $ (73,834 ) $ 511 $ 60,618 $ (61,426 ) $ 511 (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 embedded derivatives, at fair value in the Balance Sheets. (b) Recorded as a component of policy benefits in the Statements of Income. During the six months ended June 30, 2016, the change in the fair value of the GMWB and GMIB reinsurance guarantees was primarily driven by change in interest rates and equity market performance. During 2015, the change in the fair value GMWB and GMIB reinsurance guarantees was primarily driven by lower than expected equity market performance and updated policy holder behavior assumptions. The following table provides a summary of the quantitative inputs and assumptions of the Company’s Level 3 assets and liabilities at June 30, 2016 and December 31, 2015: Description June 30, 2016 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities 3,821 Broker See comment below (a) See comment below (a) Asset-backed securities $ 2,939 Recent Purchase Price Not applicable Not applicable Total fixed maturity securities 6,760 Limited partnership 10,376 Not applicable (a) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 73,834 Discounted cash flows Own credit risk 50 Long-term volatility 25% -30% Total assets $ 90,970 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 84,490 Discounted cash flows Own credit risk 50 Long-term volatility 25% -30% Future policy benefits - SALB 511 See comment below (c) See comment below (c) See comment below (c) Total liabilities $ 85,001 Description December 31, 2015 Estimated Fair Value 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 (c) See comment below (c) See comment below (c) Total liabilities $ 61,129 (a) The Company has obtained non-binding broker quotes which cannot be corroborated by market observable data, to assist in determining the fair values of the Level 3 asset-backed securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and obtains an asset specialist’s review of the broker’s price. (b) The Company has investments in two limited partnerships for which the fair values are 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 valuations from the underlying financial statements. As a result, inputs are not developed by management to determine the fair value measurement for these investments. (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 June 30, 2016 and December 31, 2015: June 30, 2016 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 111,646 $ 111,646 Policy loans (b) - 639,350 - 639,350 Total assets $ - $ 639,350 $ 111,646 $ 750,996 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 (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 similar remaining maturities. (b) Policy loans are stated at unpaid principal balance. The book value of policy loans approximates their fair value.

Investments

Investments	6 Months Ended
	Jun. 30, 2016
Investments	Note 3. Investments Fixed Maturity and Equity Securities The amortized cost/cost, gross unrealized gains and losses, estimated fair values and impairments reflected in other comprehensive income of investments in fixed maturity and equity AFS securities at June 30, 2016 and December 31, 2015 were: June 30, 2016 Gross Unrealized Estimated Amortized Cost/Cost Gains Losses Fair Value OTTI in AOCI (a) Fixed maturity AFS securities Corporate securities $ 943,739 $ 84,492 $ (5,679 ) $ 1,022,552 $ - Asset-backed securities 82,028 2,780 (411 ) 84,397 (11 ) Commercial mortgage-backed securities 77,311 4,217 (11 ) 81,517 - Residential mortgage-backed securities 158,469 3,562 (492 ) 161,539 (27 ) Municipals 911 - (104 ) 807 - Government and government agencies United States 294,764 91,254 - 386,018 - Foreign 6,551 1,691 - 8,242 - Total fixed maturity AFS securities $ 1,563,773 $ 187,996 $ (6,697) $ 1,745,072 $ (38 ) Equity AFS securities Banking securities $ 26,757 $ 1,794 $ (613 ) $ 27,938 $ - Industrial securities 5,791 98 - 5,889 - Total equity AFS securities $ 32,548 $ 1,892 $ (613 ) $ 33,827 $ - December 31, 2015 Gross Unrealized Estimated Amortized Gains Losses Fair Value OTTI (a) 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 AFS securities Banking securities $ 27,986 $ 1,769 $ (1,082 ) $ 28,673 $ - Industrial securities 5,791 203 - 5,994 - Total equity AFS securities $ 33,777 $ 1,972 $ (1,082) $ 34,667 $ - (a) Represents other-than-temporary impairments (“OTTI”) in Accumulated Other Comprehensive Income (“AOCI”), which were not included in earnings. Amount excludes $1,837 and $2,515 of unrealized gains at June 30, 2016 and December 31, 2015, 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 June 30, 2016 and December 31, 2015 were: June 30, 2016 December 31, 2015 Amortized Estimated Value Amortized Estimated Value Investment grade $ 1,461,611 $ 1,642,016 $ 1,467,677 $ 1,565,053 Below investment grade 102,162 103,056 103,016 100,284 Total fixed maturity AFS securities $ 1,563,773 $ 1,745,072 $ 1,570,693 $ 1,665,337 At June 30, 2016 and December 31, 2015, the estimated fair value of fixed maturity securities rated BBB, which is the lowest investment grade rating given by S&P, was $68,640 and $79,958, respectively. 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 June 30, 2016 and December 31, 2015 by contractual maturities were: June 30, 2016 December 31, 2015 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Fixed maturity AFS securities Due in one year or less $ 72,334 $ 72,911 $ 64,114 $ 65,086 Due after one year through five years 535,068 577,160 564,707 599,965 Due after five years through ten years 151,972 163,110 230,858 230,815 Due after ten years 486,591 604,437 465,410 515,868 1,245,965 1,417,618 1,325,089 1,411,734 Mortgage-backed securities and other asset-backed securities 317,808 327,454 245,604 253,603 Total fixed maturity AFS securities $ 1,563,773 $ 1,745,072 $ 1,570,693 $ 1,665,337 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. Unrealized 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 (“AOCI”), 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 June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 Estimated Fair Value Amortized Cost/Cost Gross Unrealized Losses and OTTI (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 8,146 $ 8,604 $ (458 ) Asset-backed securities 24,005 24,164 (159 ) Commercial mortgage-backed securities 2,674 2,680 (6 ) Residential mortgage-backed securities 14,465 14,793 (328 ) Total fixed maturity and equity AFS securities $ 49,290 $ 50,241 $ (951 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities $ 24,978 $ 27,383 $ (2,405 ) Asset-backed securities 6,734 6,887 (153 ) Commercial mortgage-backed securities 481 486 (5 ) Residential mortgage-backed securities 2,241 2,357 (116 ) Total fixed maturity and equity AFS securities $ 34,434 $ 37,113 $ (2,679 ) Greater than one year Fixed maturity AFS securities Corporate securities $ 26,157 $ 28,973 $ (2,816 ) Asset-backed securities 5,269 5,368 (99 ) Residential mortgage-backed securities 817 865 (48 ) Municipals 807 911 (104 ) Equity AFS securities - banking securities 9,683 10,296 (613 ) Total fixed maturity and equity AFS securities $ 42,733 $ 46,413 $ (3,680 ) Total fixed maturity and equity AFS securities $ 126,457 $ 133,767 $ (7,310) December 31, 2015 Estimated Fair Value 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 AFS 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 AFS 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 AFS securities - banking securities 9,214 10,296 (1,082 ) Total fixed maturity and equity AFS securities $ 23,477 $ 31,778 $ (8,301 ) Total fixed maturity and equity AFS securities $ 283,146 $ 303,986 $ (20,840) (a) Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI. The total number of securities in an unrealized loss position was 68 and 133 at June 30, 2016 and December 31, 2015, respectively. There was one security in a continuous unrealized loss position where fair value had declined below amortized cost by more than 20% at June 30, 2016. The security had an estimated fair value of $1,137 with an unrealized loss of ($575). There was one security in a continuous unrealized loss position where the fair value had declined below amortized cost by more than 40% at June 30, 2016. The security had an estimated fair value of $1,175 with an unrealized loss of ($814). 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). Unrealized gains (losses) incurred during the first six months of 2016 and 2015 were primarily due to price fluctuations resulting from changes in credit spreads and interest rates in general. 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 AOCI, net of taxes, at June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 Assets Fixed maturity AFS securities $ 181,297 $ 94,644 Equity AFS securities 1,279 890 Cash flow hedges 4,660 4,202 Value of business acquired (34,229 ) (21,812 ) $ 153,007 $ 77,924 Liabilities Income taxes - deferred $ (21,333 ) $ (21,333 ) $ (21,333 ) $ (21,333 ) Stockholder’s equity Accumulated other comprehensive income, net of taxes $ 131,674 $ 56,591 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. There were no prepayment premiums collected during the three and six months ended June 30, 2016. There were $335 of prepayment premiums collected for the twelve months ended December 31, 2015. Prepayment premiums are included in net realized investment gains (losses), excluding OTTI on securities in the Statements of Income. The fair values of mortgage loans on real estate are 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. The estimated fair value of the mortgages on commercial real estate at June 30, 2016 and December 31, 2015 was $111,646 and $92,923, respectively. 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 when a loan is determined to be impaired for the excess carrying value of the loan over its estimated collateral value. There were no impaired mortgage loans at June 30, 2016 and December 31, 2015. In addition to the valuation allowance for specific loans, a generic reserve is established based on a percent of the outstanding loan balance. The generic reserve was $74 at June 30, 2016 and $78 at December 31, 2015. The change in the reserve is reflected in net realized investment gains (losses), excluding other-than-temporary impairments (OTTI) on securities in the Statements of Income. The change in the credit loss allowances on mortgage loans by type of property at June 30, 2016 and December 31, 2015 was as follows: Six Months Ended Twelve Months Ended Commercial 2016 2015 Balance at beginning of period $ 78 $ 36 Provision (4 ) 42 Balance at end of period $ 74 $ 78 The commercial mortgages are geographically diversified throughout the United States with the largest concentrations in Pennsylvania, Washington, California, Missouri, Texas, Georgia, Virginia, New Hampshire, Florida, and Minnesota, which account for approximately 81% of mortgage loans at June 30, 2016. The credit quality of mortgage loans by type of property at June 30, 2016 and December 31, 2015 was as follows: Commercial June 30, 2016 December 31, AAA - AA $ 35,841 $ 31,835 A 59,153 49,084 BBB 12,029 9,090 BBB - BB - 2,983 Total mortgage loans on real estate $ 107,023 $ 92,992 Less: reserves (74 ) (78 ) Total mortgage loans on real estate, net $ 106,949 $ 92,914 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 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. The following table provides a summary of the securities under securities lending agreements at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Payables for collateral under securities loaned $ 212,793 $ 194,537 Amortized cost of securities out on loan 159,906 162,698 Estimated fair value of securities out on loan 205,204 188,689 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 forward. 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 and reverse repurchase agreements. 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 a 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. The following table provides a summary of the securities under reverse repurchase agreements at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Payable for reverse repurchase agreements $ 66,390 $ - Amortized cost of securities pledged 65,832 - Estimated fair value of securities pledged 66,846 - Collateral Maturities of Reverse Repurchase Agreements and Securities Lending Transactions The following tables provide a summary of collateral maturities of reverse repurchase agreements and securities lending transactions for the periods ended at June 30, 2016 and December 31, 2015: June 30, 2016 Overnight and Continuous Up to 30 days Total Reverse repurchase agreements Residential mortgage-backed securities $ - $ 66,846 $ 66,846 Total - 66,846 66,846 Securities lending transactions U.S. Treasury and agency securities $ 169,279 $ - $ 169,279 Corporate securities 35,169 - 35,169 Equity securities - banking 756 - 756 Total $ 205,204 $ - $ 205,204 Total Borrowings $ 205,204 $ 66,846 $ 272,050 Gross amount of recognized liabilities for reverse repurchase agreements and securities lending in balance sheets $ 279,183 December 31, 2015 Overnight and Continuous Up to 30 days 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 Borrowings $ 188,689 $ - $ 188,689 Gross amount of recognized liabilities for 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. The Company has 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. The Company has 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. 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 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 utilizes put and call options which serve to hedge the risk of equity market declines. 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 of non-qualifying hedging instruments and cash flow hedges at June 30, 2016 and December 31, 2015: Notional Fair Value June 30, December 31, June 30, December 31, Derivative Type 2016 2015 2016 2015 Non-qualifying hedges Short futures $ 27,173 $ 47,221 $ - $ - Long futures 63,722 51,573 - - Interest rate swaps 244,000 192,000 11,541 (2,228 ) Variance swaps 580 675 (1,233) (1,525 ) Total return swaps 686,440 1,315,900 585 (1,429 ) Options 145,727 587,046 836 11,055 Credit default swaps 210,000 210,000 (230) 65 Total non-qualifying hedges $ 1,377,642 $ 2,404,415 $ 11,499 $ 5,938 Cash flow hedges Interest rate swaps $ 49,884 $ 49,884 $ 3,427 $ 3,285 Total cash flow hedges $ 49,884 $ 49,884 $ 3,427 $ 3,285 Derivative Total $ 1,427,526 $ 2,454,299 $ 14,926 $ 9,223 The following table presents the net derivative gains (losses) recognized in the Statements of Income: Net Derivative Gains (Losses) Recognized In Income Three Months Ended June 30, Six Months Ended June 30, Derivative Type 2016 2015 2016 2015 Short futures $ (1,154) $ (42) $ (2,459) $ (1,359) Long futures 3,138 - 6,991 - Variance swaps (1,033) (973) (1,670) (2,215) Total return swaps (10,996) (15,173) (17,039) (34,425) Options (1,784) 2,455 (3,235) 2,455 Interest rate swaps 5,079 2 13,771 3 Credit default swaps 85 440 347 1,328 Total $ (6,665) (13,291) $ (3,294) (34,213) The following table presents the maximum potential amount of future payments, credit rating, and maturity dates for the credit default swaps at June 30, 2016 and December 31, 2015: Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type June 30, 2016 Credit default swaps Corporate debt $ 120,000 A June 2017 - December 2020 Sovereign debt 90,000 AA-A June 2017 - March Credit default swaps total $ 210,000 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 Sovereign debt 90,000 AA-A June 2017 - March Credit default swaps total $ 210,000 The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges: Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Gain (Loss) Recognized in Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest rate swaps $ 1,803 $ 264 $ 456 $ 552 Total $ 1,803 $ 264 $ 456 $ 552 Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion) Net Realized Gains (Losses) Recognized in Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest rate swaps $ 1 $ 2 $ 3 $ 3 Total $ 1 $ 2 $ 3 $ 3 Gain (Loss) Reclassified from Gain (Loss) Reclassified from Three Months Ended June 30, Six Months Ended June 30, Location 2016 2015 2016 2015 Interest rate swaps Net investment income $ (513 ) $ (626 ) $ (316 ) $ 174 Total $ (513 ) $ (626 ) $ (316 ) $ 174 All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness. As of June 30, 2016, 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 $631. 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 June 30, 2016 and December 31, 2015, the Company received cash collateral from counterparties in the amount of $33,536 and $11,405, respectively. 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 $6,168 and $4,136 at June 30, 2016 and December 31, 2015, 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 June 30, 2016 and December 31, 2015: June 30, 2016 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts in the Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 25,776 $ 8,380 $ 16,273 $ 1,123 $ 1,123 $ — $ (0 ) $ 8,177 Total $ 25,776 $ 8,380 $ 16,273 $ 1,123 $ 1,123 $ — $ (0 ) $ 8,177 December 31, 2015 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 38,125 $ 15,827 $ 11,405 $ 10,893 $ 8,158 $ — $ 2,735 $ 9,260 Total $ 38,125 $ 15,827 $ 11,405 $ 10,893 $ 8,158 $ — $ 2,735 $ 9,260 The following tables present the offsetting of derivative liabilities at June 30, 2016 and December 31, 2015. June 30, 2016 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 10,850 $ 8,380 $ 0 $ 2,470 $ 521 $ - $ 1,949 $ 1,417 Total $ 10,850 $ 8,380 $ 0 $ 2,470 $ 521 $ - $ 1,949 $ 1,417 December 31, 2015 Gross Amounts Not Offset in the Description Gross Gross Set in the Derivative Net Amounts Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 28,902 $ 15,827 $ 0 $ 13,075 $ 10,847 $ - $ 2,228 $ 16,440 Total $ 28,902 $ 15,827 $ 0 $ 13,075 $ 10,847 $ - $ 2,228 $ 16,440 There were no other financial assets or financial liabilities at June 30, 2016 and December 31, 2015 that were subject to offsetting. Net Investment Income Net investment income by source for the three and six months ended June 30 was as follows: Three Months Ended June 30, Six Months Ended June 30, Net investment income 2016 2015 2016 2015 Fixed maturity AFS securities $ 16,863 $ 17,863 $ 34,230 $ 35,924 Equity AFS securities 538 561 1,003 1,031 Limited partnerships (90 ) 429 (2,631 ) 1,557 Mortgage loans on real estate 1,264 937 2,467 1,860 Policy loans on insurance contracts 8,382 8,808 16,991 17,610 Derivatives 1,857 929 3,769 1,830 Cash and cash equivalents 564 162 1,015 308 Other 106 (66 ) 213 13 Gross investment income 29,484 29,623 57,057 60,133 Less investment expenses (1,870 ) (1,207 ) (2,991 ) (2,190 ) Net investment income $ 27,614 $ 28,416 $ 54,066 $ 57,943 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 three and six months ended June 30 were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Proceeds $ 97,888 $ 26,696 $ 199,431 $ 92,215 Gross realized investment gains 1,064 1,057 4,943 2,952 Gross realized investment losses (1 ) (403 ) (277 ) (2,151 ) Proceeds on AFS securities sold at a realized loss 16,830 10,993 24,745 27,695 Net realized investment gains (losses) for the three and six months ended June 30 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Fixed maturity AFS securities $ (481) $ (1,387) $ (754) $ (1,240) Equity AFS securities - 175 207 175 Mortgages 12 4 3 7 Adjustment related to VOBA 526 62 467 55 Net realized investment gains $ 57 $ (1,146 ) $ (77 ) $ (1,003 ) OTTI If management determines that a decline in the value of an AFS equity security is other-than-temporary, the cost basis is adjusted to estimated fair value and the decline in value is recorded as a net realized investment loss. For debt securities, the manner in which an OTTI is recorded depends on whether management intends to sell a security or it is more likely than not that it will be required to sell a security in an unrealized loss position before its anticipated recovery. If management intends to sell or more likely than not will be required to sell the debt security before recovery, the OTTI is recognized in earnings for the difference between amortized cost and fair value. If these criteria are not met, the OTTI is bifurcated into two pieces: a credit loss is recognized in earnings at an amount equal to the difference between the amortized cost of the debt security and the present value of the security’s anticipated cash flows, and a noncredit loss is recognized in OCI for any difference between the fair value and the net present value of the debt security at the impairment measurement date. 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 at June 30, 2016 and December 31, 2015: June 30, December 31, 2015 Balance at beginning of period $ (935 ) (185 ) Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income 121 109 Accretion of credit loss impairments previously recognized (502 ) (859 ) Balance at end of period $ (1,316 ) (935 ) The components of OTTI reflected in the Statements of Income for the three and six months ended June 30 were as follows: Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 OTTI Net Net OTTI Net Net Gross OTTI losses $ 1,544 $ - $ 1,544 $ 5,213 $ - $ 5,213 Value of business acquired amortization (529 ) - (529 ) (529 ) - (529 ) Net OTTI losses $ 1,015 $ - $ 1,015 $ 4,684 $ - $ 4,684 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 OTTI Net Net OTTI Net Net Gross OTTI losses $ 1,866 $ - $ 1,866 $ 1,866 $ - $ 1,866 Net OTTI losses $ 1,866 $ - $ 1,866 $ 1,866 $ - $ 1,866

Value of Business Acquired ("VO

Value of Business Acquired ("VOBA"), Deferred Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI")	6 Months Ended
	Jun. 30, 2016
Value of Business Acquired ("VOBA"), Deferred Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI")	Note 4. Value of Business Acquired (“VOBA”), Deferred Acquisition Costs (“DAC”), and Deferred Sales Inducements (“DSI”) For a complete discussion of the Company’s VOBA, DAC and DSI accounting policies, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. 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 life 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, Separate Accounts performance, surrenders, operating expenses, investment returns and other factors. The impact of revisions to long term assumptions of future experience estimates can result in an “unlocking” adjustment being recognized in current operations. 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 change in the carrying amount of VOBA for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Amortization expense $ (7,602 ) $ (6,770 ) $ (12,973 ) $ (11,549 ) Unlocking (9 ) (9 ) (18 ) (84 ) Impairment charge - - - - Adjustment related to realized (gains) losses on investments 526 62 467 55 Adjustment related to unrealized (gains) losses and OTTI on investments (7,318 ) 8,881 (12,416 ) 5,720 Change in VOBA carrying amount $ (14,403 ) $ 2,164 $ (24,940 ) $ (5,858 ) For the three and six months ended June 30, 2016, the decrease in VOBA was primarily driven by an increase in amortization due to lower gross profits and increased adjustments related to unrealized gains due to lower interest rates during the period. 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 a group of contracts. DAC are subject to recoverability testing at the time of policy issuance and loss recognition testing at the end of each reporting period. DAC for variable annuities are 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. Future gross profit estimates are subject to periodic evaluation by the Company with necessary revisions applied against amortization to date. The impact of revisions to long term assumptions of future experience estimates can result in an “unlocking” adjustment being recognized in current operations. The change in the carrying amount of DAC for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, DAC 2016 2015 2016 2015 Capitalization $ 17 $ 42 $ 20 $ 74 Accretion (amortization) expense 516 (5,165 ) (416 ) (3,787 ) Unlocking (16 ) (24 ) (26 ) (51 ) Change in DAC carrying amount $ 517 $ (5,147 ) $ (422 ) $ (3,764 ) For the three months ended June 30, 2016 DAC increased as a result of increased accretion that was driven by lower gross profits. For the six months ended June 30, 2016 DAC decreased as a result of amortization that was driven by higher gross profits. 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. These future gross profit estimates are subject to periodic evaluation by the Company, with necessary revisions applied against amortization to date. The impact of revisions to long term assumptions of future experience estimates can result in an “unlocking” adjustment being recognized in current operations. The change in the carrying amount of DSI for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, DSI 2016 2015 2016 2015 Capitalization $ 1 $ 4 $ 3 $ 5 Accretion (amortization) expense 118 (1,172 ) (94 ) (857 ) Unlocking (4 ) (6 ) (6 ) (12 ) Change in DSI carrying amount $ 115 $ (1,174 ) $ (97 ) $ (864 ) For the three months ended June 30, 2016 DSI increased as a result of increased accretion that was driven by lower gross profits. For the six months ended June 30, 2016 DSI decreased as a result of amortization due to higher gross profits.

Variable Contracts Containing G

Variable Contracts Containing Guaranteed Benefits	6 Months Ended
	Jun. 30, 2016
Variable Contracts Containing Guaranteed Benefits	Note 5. Variable Contracts Containing Guaranteed Benefits The Company records liabilities for contracts containing a 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 components of the changes in the GMDB and GMIB liabilities for the three and six months ended June 30 were as follows: Three Months Ended Six Months Ended June 30, June 30, GMDB 2016 2015 2016 2015 Guaranteed benefits incurred $ 6,486 $ 6,602 $ 12,866 $ 13,084 Guaranteed benefits paid (7,184 ) (7,987 ) (13,298 ) (12,785 ) Unlocking (2,630 ) 3,785 4,841 (725 ) Total $ (3,328 ) $ 2,400 $ 4,409 $ (426 ) Three Months Ended Six Months Ended June 30, June 30, GMIB 2016 2015 2016 2015 Guaranteed benefits incurred $ 3,529 $ 2,781 $ 6,765 $ 5,662 Guaranteed benefits paid (1,308 ) (290 ) (1,406 ) (336 ) Unlocking (1,911 ) 276 5,180 (3,316 ) Total $ 310 $ 2,767 $ 10,539 $ 2,010 During the three and six months ended June 30, 2016, the increase in liabilities was driven by lower equity returns, lower interest rates, and lower Separate Account returns as compared to the favorable Separate Account returns in 2015. The variable annuity GMDB liability at June 30, 2016 and December 31, 2015 was $135,787 and $131,378, respectively. The variable annuity GMIB liability at June 30, 2016 and December 31, 2015 was $105,587 and $95,048, respectively. 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.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes	Note 6. Income Taxes The effective tax rate was not meaningful for the six months ended June 30, 2016, and 2015, respectively. Differences between the effective rate and the U.S. statutory rate of 35% principally were the result of the Separate Accounts dividends-received deduction (“DRD”) and the valuation allowance on net operating loss (“NOL”) carryforwards. 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. The income tax expense (benefit) for each of the three and six months ended June 30, 2016 and 2015 was $0. The provision for income tax asset (liability) consists of the following for the periods ended June 30, 2016 and December 31, 2015: June 30, 2016 December 31, Current federal income tax liability $ (179 ) $ (179 ) Current state income tax liability (287 ) (287 ) Deferred federal income tax liability (1,620 ) (1,620 ) Deferred state income tax assets 1,512 1,512 Net income tax liability $ (574 ) $ (574 ) At June 30, 2016 and December 31, 2015, the Company had a tax valuation allowance for deferred tax assets of $108,363 and $130,946, 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). 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 $3,404 (gross $9,727), respectively, that should not be recognized at June 30, 2016 and December 31, 2015, which primarily relate to uncertainty regarding the sustainability of certain deductions taken on the 2008-2014 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: June 30, 2016 December 31, 2015 Balance at beginning of period $ 3,404 $ 3,041 Additions for tax positions of prior years - 363 Additions for tax positions of current year - 293 Reductions for tax positions of current year - (293 ) Balance at end of period $ 3,404 $ 3,404 At June 30, 2016 and December 31, 2015 the Company had a net operating loss carry forward for federal income tax purposes of $623,721 (net of the ASC 740 reduction of $9,727) and $577,762 (net of the ASC 740 reduction of $9,727), respectively, with a carry forward period of fifteen years that expires at various dates between 2023 and 2031. At June 30, 2016 and December 31, 2015, the Company had a capital loss carry forward of $84 and $84, respectively, for federal income tax purposes with a carry forward period of five years that will expire in 2018. At June 30, 2016 and December 31, 2015, the Company had a foreign tax credit carry forward of $9,203 and $8,869, respectively, with a carry forward period of ten years that will expire at various dates up to 2026. Also, the Company has an Alternative Minimum Tax credit carry forward for federal income tax purposes of $4,216 at June 30, 2016 and December 31, 2015, with an indefinite carry forward 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 June 30, 2016 December 31, 2015. The Company recognized interest (income)/expense of $63 and $86 at June 30, 2016 and December 31, 2015, 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, 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. At June 30, 2016 and December 31, 2015, the Company recognized capital contributions from (distributions to) Transamerica Corporation and contributions from AUSA in connection with the tax allocation agreement in the amount of ($13,489) and $68,492, 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 ("AOCI")	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income ("AOCI")	Note 7. Accumulated Other Comprehensive Income (“AOCI”) The following table presents the change in AOCI by component for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, 2016 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 141,722 $ 2,855 $ (48,242 ) $ 96,335 OCI before reclassifications 40,786 1,290 (7,318 ) 34,758 Amounts reclassified from AOCI 68 513 - 581 Net current period OCI $ 40,854 $ 1,803 $ (7,318 ) $ 35,339 Ending balance $ 182,576 $ 4,658 $ (55,560 ) $ 131,674 Six Months Ended June 30, 2016 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 95,533 $ 4,202 $ (43,144 ) $ 56,591 OCI before reclassifications 88,654 140 (12,416 ) 76,378 Amounts reclassified from AOCI (1,611 ) 316 - (1,295 ) Net current period OCI $ 87,043 $ 456 $ (12,416 ) $ 75,083 Ending balance $ 182,576 $ 4,658 $ (55,560 ) $ 131,674 Three Months Ended June 30, 2015 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 191,016 $ 2,584 $ (60,437 ) $ 133,163 OCI before reclassifications (68,286 ) (362 ) 8,881 (59,767 ) Amounts reclassified from AOCI 60 626 686 Net current period OCI $ (68,226 ) $ 264 $ 8,881 $ (59,081 ) Ending balance $ 122,790 $ 2,848 $ (51,556 ) $ 74,082 Six Months Ended June 30, 2015 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 OCI before reclassifications (42,653 ) 726 5,719 (36,208 ) Amounts reclassified from AOCI 1,222 (174 ) 1,048 Net current period OCI $ (41,431 ) $ 552 $ 5,719 $ (35,160 ) Ending balance $ 122,790 $ 2,848 $ (51,556 ) $ 74,082 (a) All amounts are net of tax. The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended AOCI Components Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ (68 ) $ 1,732 Net realized investment gains (losses) - (121 ) Portion of OTTI previously recognized in OCI $ (68 ) $ 1,611 Total before tax - - Tax expense (benefit) $ (68 ) $ 1,611 Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (513 ) $ (316 ) Net investment income $ (513 ) $ (316 ) Total before tax - - Tax expense (benefit) $ (513 ) $ (316 ) Net of tax Total amounts reclassified from AOCI $ (581 ) $ 1,295 Three Months Ended Six Months Ended AOCI Components Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ 42 $ (1,120 ) Net realized investment gains (losses) (102 ) (102 ) Portion of OTTI previously recognized in OCI $ (60 ) $ (1,222 ) Total before tax - - Tax expense (benefit) $ (60 ) $ (1,222 ) Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (626 ) $ 174 Net investment income $ (626 ) $ 174 Total before tax - - Tax expense (benefit) $ (626 ) $ 174 Net of tax Total amounts reclassified from AOCI $ (686 ) $ (1,048 )

Stockholder's Equity and Statut

Stockholder's Equity and Statutory Accounting Principles	6 Months Ended
	Jun. 30, 2016
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 (loss) income for the six months ended June 30, 2016 and 2015 was ($53,324) and $62,258, respectively. Statutory capital and surplus at June 30, 2016 and December 31, 2015 was $680,416 and $790,252, respectively. For the six months ended June 30, 2016 the Company paid $75,000 in extraordinary dividends to Transamerica Corporation. For the six months ended June 30, 2015, the Company did not pay any dividends to AUSA. During the first six months of 2016 and 2015, the Company paid a $13,501 return of capital to Transamerica Corporation and received capital contributions of $6,842 from AUSA, respectively. A financial examination of the Company by the Insurance Department of the State of Arkansas for the period January 1, 2010 through December 31, 2014, was completed in June 2016. There were no significant examination findings. There were no adjustments made to surplus as a result of the examination.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2016
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. The Company did not have a reinsurance reserve at June 30, 2016 and December 31, 2015. 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 June 30, 2016 and December 31, 2015, 34% and 4% of the account value for variable annuity contracts containing GMIB and GMDB provisions, respectively, were reinsured.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions	Note 10. Related Party Transactions At June 30, 2016, 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 the three and six months ended June 30, 2016, the Company incurred $2,374 and $4,788, respectively, in expenses under this agreement. During the three and six months ended June 30, 2015, the Company incurred $2,635 and $5,505, 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. During the three and six months ended June 30, 2016, the Company accrued and/or received $10 and $27 of interest, respectively. On June 18, 2016 the Company settled the intercompany short-term note receivable of $25,000 with an interest rate of 0.13% that was entered into on June 19, 2015 and the intercompany short-term note receivable of $25,000 with an interest rate of 0.36% that was entered into on February 25, 2016. During the three months ended June 30, 2015, the Company accrued and /or received $1 interest income. 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 the three and six months ended June 30, 2016, the Company incurred $44 and $86, respectively, under this agreement. During the three and six months ended June 30, 2015, the Company incurred charges of $33 and $66, respectively, under this agreement. Mortgage loan origination fees are amortized into net investment income over the life of the mortgage loans. AEGON USA Investment Management, LLC acts as a discretionary investment manager under an investment management agreement with the Company. During the three and six months ended June 30, 2016, the Company incurred $511 and $1,003, respectively, in expenses under this agreement. During the three and six months ended June 30, 2015, the Company incurred $402 and $841, 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 the three and six months ended June 30, 2016, the Company incurred $5,984 and $12,136, respectively, in expenses under this agreement. During the three and six months ended June 30, 2015, the Company incurred $7,303 and $14,653, 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 the three and six months ended June 30, 2016, the Company incurred $5 and $82, respectively, in expenses under this agreement. During the three and six months ended June 30, 2015, the Company incurred $94 and $186, respectively, in expenses under this agreement. 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 such related party funds. The Company has entered into a distribution and shareholder services agreement for certain of such funds. During the three and six months ended June 30, 2016, the Company received $509 and $1,000, respectively, in revenue under this agreement. During the three and six months ended June 30, 2015, the Company received $618 and $1,236, respectively, in revenue under this agreement. 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 three and six months ended June 30, 2016 and 2015 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Investments purchased from related parties: Fixed maturities $ - $ - $ - $ 30,356 Mortgages - 4,000 - 4,000 Limited partnerships - - 10,000 - Investments sold to related parties: Fixed maturities - 3,475 62,859 24,878 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	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015, 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 $4,011 and $4,240 at June 30, 2016 and December 31, 2015. Legal and regulatory proceedings are subject to inherent uncertainties, and future events could change management’s assessment of the probability or estimated amount of potential losses from pending or threatened proceedings. Based on available information, it is the opinion of management that the ultimate resolution of pending or threatened legal and regulatory proceedings both individually and in the aggregate, will not result in losses having a material adverse effect on the Company’s financial position or liquidity as of June 30, 2016. If management believes that, based on available information, it is at least reasonably possible that a material loss (or additional material loss in excess of any accrual) will be incurred in connection with any legal or regulatory proceedings, the Company discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Company’s assessment as of June 30, 2016, no such disclosures were considered necessary.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
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 three and six months ended June 30, 2016 and 2015: Annuity Life Total Three months ended June 30, 2016 Net revenues (a) $ 29,805 $ 15,108 $ 44,913 Amortization (accretion) of VOBA 1,356 6,255 7,611 Policy benefits (net of reinsurance recoveries) 12,902 8,957 21,859 Income tax expense (benefit) 1,324 (1,324 ) - Net income (loss) 5,473 228 5,701 Three months ended June 30, 2015 Net revenues (a) $ 15,418 $ 27,760 $ 43,178 Amortization of VOBA 4,082 2,697 6,779 Policy benefits (net of reinsurance recoveries) 11,942 12,584 24,526 Income tax expense (benefit) (367 ) 367 - Net income (loss) (6,958 ) 2,003 (4,955 ) Annuity Life Insurance Total Six months ended June 30, 2016 Net revenues (a) $ 66,506 $ 31,105 $ 97,611 Amortization of VOBA 3,089 9,902 12,991 Policy benefits (net of reinsurance recoveries) 41,555 23,358 64,913 Income tax expense (benefit) 2,601 (2,601 ) - Net income (loss) 412 (1,315 ) (903 ) Six months ended June 30, 2015 Net revenues (a) $ 43,841 $ 38,055 $ 81,896 Amortization (accretion) of VOBA 5,309 6,324 11,633 Policy benefits (net of reinsurance recoveries) 16,504 21,327 37,831 Income tax expense (benefit) (1,624 ) 1,624 - Net income (loss) (1,005 ) 6,703 5,698 (a) Net revenues include total revenues net of interest credited to policyholder liabilities.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
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 (“AUSA”) 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. For a complete discussion of the Company’s 2015 Financial Statements and accounting policies, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The interim Financial Statements are unaudited; all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the Financial Statements have been included. These unaudited Financial Statements should be read in conjunction with the audited Financial Statements included in the 2015 Annual Report on Form 10-K. The nature of the Company’s business is such that results of any interim period are not necessarily indicative of results for a full year. The Company is a life insurance company that 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 may continue to make subsequent contributions, as permitted by the terms of the CDA contract.
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.
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: the 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.
Derivatives and Hedge Accounting	Derivatives and Hedge Accounting Derivatives are 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, the Company only has 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 other comprehensive income (“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.
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.
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 that require adjustments to the Financial Statements.
Future Accounting Guidance	Future Accounting Guidance Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instrument In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) Contingent Put and Call Options in Debt Instruments ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients Deferral of the Effective Date ASU 2016-01, Financial Instruments - Overall In January 2016, FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015: June 30, 2016 Level 1 Level 2 Level 3 Total Assets Fixed maturity available-for-sale (“AFS”) securities (a) Corporate securities $ - $ 1,022,552 $ - $ 1,022,552 Asset-backed securities - 77,637 6,760 84,397 Commercial mortgage-backed securities - 81,517 - 81,517 Residential mortgage-backed securities - 161,539 - 161,539 Municipals - 807 - 807 Government and government agencies United States 386,018 - - 386,018 Foreign 1,525 6,717 - 8,242 Total fixed maturity AFS securities (a) $ 387,543 $ 1,350,769 $ 6,760 $ 1,745,072 Equity AFS securities (a) Banking securities $ - $ 27,938 $ - $ 27,938 Industrial securities - 5,889 - 5,889 Total equity AFS securities (a) $ - $ 33,827 $ - $ 33,827 Cash equivalents (b) - 330,702 - 330,702 Derivative assets (c) - 1,123 - 1,123 Limited partnerships (d) - 59,113 10,376 69,489 Fair value recoverable of ceded GMIB embedded derivatives (e) - - 73,834 73,834 Separate Accounts assets (f) 5,668,318 - - 5,668,318 Total assets $ 6,055,861 $ 1,775,534 $ 90,970 $ 7,922,365 Liabilities Future policy benefits (embedded derivatives only) (g) $ - $ - $ 85,001 $ 85,001 Derivative liabilities (c) - 2,470 - 2,470 Total liabilities $ - $ 2,470 $ 85,001 $ 87,471 December 31, 2015 Level 1 Level 2 Level 3 Total Assets Fixed maturity 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 AFS securities (a) Banking securities $ - $ 28,673 $ - $ 28,673 Industrial securities - 5,994 - 5,994 Total equity AFS 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 Fair value 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 (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 June 30, 2016 and December 31, 2015, there were no fixed maturity AFS securities 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 investments in two limited partnerships for which the fair values are derived from management’s review of the financial information that is obtained from the private equity funds and prepared on a GAAP basis and are considered Level 3 measurements. The valuation input of these financial statements is on a one quarter lag. (e) Guaranteed minimum income benefit (“GMIB”) reinsurance is treated as embedded derivatives and is reported as a recoverable of ceded GMIB embedded derivatives, at fair value in the 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 two 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 June 30, 2016 and December 31, 2015: Six Months Ended June 30, 2016 Twelve Months Ended Limited Fixed Limited Fixed Balance at beginning of period (a) $ 2,116 $ 6,666 $ 4,086 $ 8,474 Change in unrealized losses (b) - 166 - (376 ) Purchases 11,145 - - 1,999 Sales (2,516 ) (65 ) (252 ) (126 ) Transfers into Level 3 - 1,947 - 2,049 Transfers out of Level 3 - (1,954 ) - (5,354 ) Changes in valuation (c) (368 ) - (1,718 ) - Net realized investment gains (d) (1 ) - - - Balance at end of period (a) $ 10,376 $ 6,760 $ 2,116 $ 6,666 (a) Recorded as a component of limited partnerships and fixed maturity AFS securities 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. (d) Recorded as a component of net realized investment gains (losses) for fixed maturity and net investment income for limited partnerships 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 June 30, 2016 and December 31, 2015: Six Months Ended June 30, 2016 Twelve Months Ended December 31, 2015 GMWB GMIB SALB GMWB GMIB SALB Balance at beginning of period (a) $ 60,618 $ (61,426 ) $ 511 $ 60,702 $ (60,573 ) $ 504 Changes in interest rates (b) 20,657 (13,069 ) - (1,890 ) 979 - Changes in equity markets (b) 3,361 808 - 9,182 (1,976 ) 7 Other (b) (146 ) (147 ) - (7,376 ) 144 - Balance at end of period (a) $ 84,490 $ (73,834 ) $ 511 $ 60,618 $ (61,426 ) $ 511 (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 embedded 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 June 30, 2016 and December 31, 2015: Description June 30, 2016 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Assets Fixed maturity securities Asset-backed securities 3,821 Broker See comment below (a) See comment below (a) Asset-backed securities $ 2,939 Recent Purchase Price Not applicable Not applicable Total fixed maturity securities 6,760 Limited partnership 10,376 Not applicable (a) Not applicable (b) Not applicable (b) Future policy benefits (embedded derivatives) - GMIB Reinsurance 73,834 Discounted cash flows Own credit risk 50 Long-term volatility 25% -30% Total assets $ 90,970 Liabilities Future policy benefits (embedded derivatives) - GMWB $ 84,490 Discounted cash flows Own credit risk 50 Long-term volatility 25% -30% Future policy benefits - SALB 511 See comment below (c) See comment below (c) See comment below (c) Total liabilities $ 85,001 Description December 31, 2015 Estimated Fair Value 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 (c) See comment below (c) See comment below (c) Total liabilities $ 61,129 (a) The Company has obtained non-binding broker quotes which cannot be corroborated by market observable data, to assist in determining the fair values of the Level 3 asset-backed securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and obtains an asset specialist’s review of the broker’s price. (b) The Company has investments in two limited partnerships for which the fair values are 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 valuations from the underlying financial statements. As a result, inputs are not developed by management to determine the fair value measurement for these investments. (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 June 30, 2016 and December 31, 2015: June 30, 2016 Level 1 Level 2 Level 3 Total Assets Mortgage loans on real estate (a) $ - $ - $ 111,646 $ 111,646 Policy loans (b) - 639,350 - 639,350 Total assets $ - $ 639,350 $ 111,646 $ 750,996 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 (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 similar remaining maturities. (b) Policy loans are stated at unpaid principal balance. The book value of policy loans approximates their fair value.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Amortized Cost/Cost, Gross Unrealized Gains and Losses, Estimated Fair Values and Impairments Reflected in Other Comprehensive Income of Investments in Fixed Maturity and Equity Available-for-Sale Securities	The amortized cost/cost, gross unrealized gains and losses, estimated fair values and impairments reflected in other comprehensive income of investments in fixed maturity and equity AFS securities at June 30, 2016 and December 31, 2015 were: June 30, 2016 Gross Unrealized Estimated Amortized Cost/Cost Gains Losses Fair Value OTTI in AOCI (a) Fixed maturity AFS securities Corporate securities $ 943,739 $ 84,492 $ (5,679 ) $ 1,022,552 $ - Asset-backed securities 82,028 2,780 (411 ) 84,397 (11 ) Commercial mortgage-backed securities 77,311 4,217 (11 ) 81,517 - Residential mortgage-backed securities 158,469 3,562 (492 ) 161,539 (27 ) Municipals 911 - (104 ) 807 - Government and government agencies United States 294,764 91,254 - 386,018 - Foreign 6,551 1,691 - 8,242 - Total fixed maturity AFS securities $ 1,563,773 $ 187,996 $ (6,697) $ 1,745,072 $ (38 ) Equity AFS securities Banking securities $ 26,757 $ 1,794 $ (613 ) $ 27,938 $ - Industrial securities 5,791 98 - 5,889 - Total equity AFS securities $ 32,548 $ 1,892 $ (613 ) $ 33,827 $ - December 31, 2015 Gross Unrealized Estimated Amortized Gains Losses Fair Value OTTI (a) 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 AFS securities Banking securities $ 27,986 $ 1,769 $ (1,082 ) $ 28,673 $ - Industrial securities 5,791 203 - 5,994 - Total equity AFS securities $ 33,777 $ 1,972 $ (1,082) $ 34,667 $ - (a) Represents other-than-temporary impairments (“OTTI”) in Accumulated Other Comprehensive Income (“AOCI”), which were not included in earnings. Amount excludes $1,837 and $2,515 of unrealized gains at June 30, 2016 and December 31, 2015, 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 June 30, 2016 and December 31, 2015 were: June 30, 2016 December 31, 2015 Amortized Estimated Value Amortized Estimated Value Investment grade $ 1,461,611 $ 1,642,016 $ 1,467,677 $ 1,565,053 Below investment grade 102,162 103,056 103,016 100,284 Total fixed maturity AFS securities $ 1,563,773 $ 1,745,072 $ 1,570,693 $ 1,665,337
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 June 30, 2016 and December 31, 2015 by contractual maturities were: June 30, 2016 December 31, 2015 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Fixed maturity AFS securities Due in one year or less $ 72,334 $ 72,911 $ 64,114 $ 65,086 Due after one year through five years 535,068 577,160 564,707 599,965 Due after five years through ten years 151,972 163,110 230,858 230,815 Due after ten years 486,591 604,437 465,410 515,868 1,245,965 1,417,618 1,325,089 1,411,734 Mortgage-backed securities and other asset-backed securities 317,808 327,454 245,604 253,603 Total fixed maturity AFS securities $ 1,563,773 $ 1,745,072 $ 1,570,693 $ 1,665,337
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 June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 Estimated Fair Value Amortized Cost/Cost Gross Unrealized Losses and OTTI (a) Less than or equal to six months Fixed maturity AFS securities Corporate securities $ 8,146 $ 8,604 $ (458 ) Asset-backed securities 24,005 24,164 (159 ) Commercial mortgage-backed securities 2,674 2,680 (6 ) Residential mortgage-backed securities 14,465 14,793 (328 ) Total fixed maturity and equity AFS securities $ 49,290 $ 50,241 $ (951 ) Greater than six months but less than or equal to one year Fixed maturity AFS securities Corporate securities $ 24,978 $ 27,383 $ (2,405 ) Asset-backed securities 6,734 6,887 (153 ) Commercial mortgage-backed securities 481 486 (5 ) Residential mortgage-backed securities 2,241 2,357 (116 ) Total fixed maturity and equity AFS securities $ 34,434 $ 37,113 $ (2,679 ) Greater than one year Fixed maturity AFS securities Corporate securities $ 26,157 $ 28,973 $ (2,816 ) Asset-backed securities 5,269 5,368 (99 ) Residential mortgage-backed securities 817 865 (48 ) Municipals 807 911 (104 ) Equity AFS securities - banking securities 9,683 10,296 (613 ) Total fixed maturity and equity AFS securities $ 42,733 $ 46,413 $ (3,680 ) Total fixed maturity and equity AFS securities $ 126,457 $ 133,767 $ (7,310) December 31, 2015 Estimated Fair Value 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 AFS 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 AFS 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 AFS securities - banking securities 9,214 10,296 (1,082 ) Total fixed maturity and equity AFS securities $ 23,477 $ 31,778 $ (8,301 ) Total fixed maturity and equity AFS securities $ 283,146 $ 303,986 $ (20,840) (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 AOCI, net of taxes, at June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 Assets Fixed maturity AFS securities $ 181,297 $ 94,644 Equity AFS securities 1,279 890 Cash flow hedges 4,660 4,202 Value of business acquired (34,229 ) (21,812 ) $ 153,007 $ 77,924 Liabilities Income taxes - deferred $ (21,333 ) $ (21,333 ) $ (21,333 ) $ (21,333 ) Stockholder’s equity Accumulated other comprehensive income, net of taxes $ 131,674 $ 56,591
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 at June 30, 2016 and December 31, 2015 was as follows: Six Months Ended Twelve Months Ended Commercial 2016 2015 Balance at beginning of period $ 78 $ 36 Provision (4 ) 42 Balance at end of period $ 74 $ 78
Credit Quality of Mortgage Loans by Type of Property	The credit quality of mortgage loans by type of property at June 30, 2016 and December 31, 2015 was as follows: Commercial June 30, 2016 December 31, AAA - AA $ 35,841 $ 31,835 A 59,153 49,084 BBB 12,029 9,090 BBB - BB - 2,983 Total mortgage loans on real estate $ 107,023 $ 92,992 Less: reserves (74 ) (78 ) Total mortgage loans on real estate, net $ 106,949 $ 92,914
Collateral Maturities of Reverse Repurchase Agreements and Securities Lending Transactions	The following tables provide a summary of collateral maturities of reverse repurchase agreements and securities lending transactions for the periods ended at June 30, 2016 and December 31, 2015: June 30, 2016 Overnight and Continuous Up to 30 days Total Reverse repurchase agreements Residential mortgage-backed securities $ - $ 66,846 $ 66,846 Total - 66,846 66,846 Securities lending transactions U.S. Treasury and agency securities $ 169,279 $ - $ 169,279 Corporate securities 35,169 - 35,169 Equity securities - banking 756 - 756 Total $ 205,204 $ - $ 205,204 Total Borrowings $ 205,204 $ 66,846 $ 272,050 Gross amount of recognized liabilities for reverse repurchase agreements and securities lending in balance sheets $ 279,183 December 31, 2015 Overnight and Continuous Up to 30 days 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 Borrowings $ 188,689 $ - $ 188,689 Gross amount of recognized liabilities for securities lending in balance sheets $ 194,537
Notional and Fair Value of Non-Qualifying Hedging Instruments and Cash Flow Hedges	The following table presents the notional and fair value of non-qualifying hedging instruments and cash flow hedges at June 30, 2016 and December 31, 2015: Notional Fair Value June 30, December 31, June 30, December 31, Derivative Type 2016 2015 2016 2015 Non-qualifying hedges Short futures $ 27,173 $ 47,221 $ - $ - Long futures 63,722 51,573 - - Interest rate swaps 244,000 192,000 11,541 (2,228 ) Variance swaps 580 675 (1,233) (1,525 ) Total return swaps 686,440 1,315,900 585 (1,429 ) Options 145,727 587,046 836 11,055 Credit default swaps 210,000 210,000 (230) 65 Total non-qualifying hedges $ 1,377,642 $ 2,404,415 $ 11,499 $ 5,938 Cash flow hedges Interest rate swaps $ 49,884 $ 49,884 $ 3,427 $ 3,285 Total cash flow hedges $ 49,884 $ 49,884 $ 3,427 $ 3,285 Derivative Total $ 1,427,526 $ 2,454,299 $ 14,926 $ 9,223
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 Three Months Ended June 30, Six Months Ended June 30, Derivative Type 2016 2015 2016 2015 Short futures $ (1,154) $ (42) $ (2,459) $ (1,359) Long futures 3,138 - 6,991 - Variance swaps (1,033) (973) (1,670) (2,215) Total return swaps (10,996) (15,173) (17,039) (34,425) Options (1,784) 2,455 (3,235) 2,455 Interest rate swaps 5,079 2 13,771 3 Credit default swaps 85 440 347 1,328 Total $ (6,665) (13,291) $ (3,294) (34,213)
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 June 30, 2016 and December 31, 2015: Maximum Potential Future Payments Credit Rating Maturity Date Range Derivative Type June 30, 2016 Credit default swaps Corporate debt $ 120,000 A June 2017 - December 2020 Sovereign debt 90,000 AA-A June 2017 - March Credit default swaps total $ 210,000 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 Sovereign debt 90,000 AA-A June 2017 - March Credit default swaps total $ 210,000
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 OCI on Derivative (Effective Portion) Gain (Loss) Recognized in Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest rate swaps $ 1,803 $ 264 $ 456 $ 552 Total $ 1,803 $ 264 $ 456 $ 552 Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion) Net Realized Gains (Losses) Recognized in Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest rate swaps $ 1 $ 2 $ 3 $ 3 Total $ 1 $ 2 $ 3 $ 3 Gain (Loss) Reclassified from Gain (Loss) Reclassified from Three Months Ended June 30, Six Months Ended June 30, Location 2016 2015 2016 2015 Interest rate swaps Net investment income $ (513 ) $ (626 ) $ (316 ) $ 174 Total $ (513 ) $ (626 ) $ (316 ) $ 174
Offsetting Derivatives Assets	The following tables present the offsetting of derivative assets at June 30, 2016 and December 31, 2015: June 30, 2016 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts in the Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 25,776 $ 8,380 $ 16,273 $ 1,123 $ 1,123 $ — $ (0 ) $ 8,177 Total $ 25,776 $ 8,380 $ 16,273 $ 1,123 $ 1,123 $ — $ (0 ) $ 8,177 December 31, 2015 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 38,125 $ 15,827 $ 11,405 $ 10,893 $ 8,158 $ — $ 2,735 $ 9,260 Total $ 38,125 $ 15,827 $ 11,405 $ 10,893 $ 8,158 $ — $ 2,735 $ 9,260
Offsetting Derivative Liabilities	The following tables present the offsetting of derivative liabilities at June 30, 2016 and December 31, 2015. June 30, 2016 Gross Amounts Not Offset in the Description Gross Gross Set Off in Derivative Net Amounts Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 10,850 $ 8,380 $ 0 $ 2,470 $ 521 $ - $ 1,949 $ 1,417 Total $ 10,850 $ 8,380 $ 0 $ 2,470 $ 521 $ - $ 1,949 $ 1,417 December 31, 2015 Gross Amounts Not Offset in the Description Gross Gross Set in the Derivative Net Amounts Balance Sheet Financial Cash Net Amount Fair Value Not Set Off Derivatives $ 28,902 $ 15,827 $ 0 $ 13,075 $ 10,847 $ - $ 2,228 $ 16,440 Total $ 28,902 $ 15,827 $ 0 $ 13,075 $ 10,847 $ - $ 2,228 $ 16,440
Net Investment Income by Source	Net investment income by source for the three and six months ended June 30 was as follows: Three Months Ended June 30, Six Months Ended June 30, Net investment income 2016 2015 2016 2015 Fixed maturity AFS securities $ 16,863 $ 17,863 $ 34,230 $ 35,924 Equity AFS securities 538 561 1,003 1,031 Limited partnerships (90 ) 429 (2,631 ) 1,557 Mortgage loans on real estate 1,264 937 2,467 1,860 Policy loans on insurance contracts 8,382 8,808 16,991 17,610 Derivatives 1,857 929 3,769 1,830 Cash and cash equivalents 564 162 1,015 308 Other 106 (66 ) 213 13 Gross investment income 29,484 29,623 57,057 60,133 Less investment expenses (1,870 ) (1,207 ) (2,991 ) (2,190 ) Net investment income $ 27,614 $ 28,416 $ 54,066 $ 57,943
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 three and six months ended June 30 were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Proceeds $ 97,888 $ 26,696 $ 199,431 $ 92,215 Gross realized investment gains 1,064 1,057 4,943 2,952 Gross realized investment losses (1 ) (403 ) (277 ) (2,151 ) Proceeds on AFS securities sold at a realized loss 16,830 10,993 24,745 27,695
Net Realized Investment Gains (Losses)	Net realized investment gains (losses) for the three and six months ended June 30 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Fixed maturity AFS securities $ (481) $ (1,387) $ (754) $ (1,240) Equity AFS securities - 175 207 175 Mortgages 12 4 3 7 Adjustment related to VOBA 526 62 467 55 Net realized investment gains $ 57 $ (1,146 ) $ (77 ) $ (1,003 )
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 at June 30, 2016 and December 31, 2015: June 30, December 31, 2015 Balance at beginning of period $ (935 ) (185 ) Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income 121 109 Accretion of credit loss impairments previously recognized (502 ) (859 ) Balance at end of period $ (1,316 ) (935 )
Components of Other-Than-Temporary Impairments Reflected in Statements of Income	The components of OTTI reflected in the Statements of Income for the three and six months ended June 30 were as follows: Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 OTTI Net Net OTTI Net Net Gross OTTI losses $ 1,544 $ - $ 1,544 $ 5,213 $ - $ 5,213 Value of business acquired amortization (529 ) - (529 ) (529 ) - (529 ) Net OTTI losses $ 1,015 $ - $ 1,015 $ 4,684 $ - $ 4,684 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 OTTI Net Net OTTI Net Net Gross OTTI losses $ 1,866 $ - $ 1,866 $ 1,866 $ - $ 1,866 Net OTTI losses $ 1,866 $ - $ 1,866 $ 1,866 $ - $ 1,866
Securities lending agreements
Summary of Securities	The following table provides a summary of the securities under securities lending agreements at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Payables for collateral under securities loaned $ 212,793 $ 194,537 Amortized cost of securities out on loan 159,906 162,698 Estimated fair value of securities out on loan 205,204 188,689
Reverse purchase agreement
Summary of Securities	The following table provides a summary of the securities under reverse repurchase agreements at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Payable for reverse repurchase agreements $ 66,390 $ - Amortized cost of securities pledged 65,832 - Estimated fair value of securities pledged 66,846 -

Value of Business Acquired ("25

Value of Business Acquired ("VOBA"), Deferred Acquisition Costs ("DAC"), and Deferred Sales Inducements ("DSI") (Tables)	6 Months Ended
	Jun. 30, 2016
Change in Carrying Amount of Value of Business Acquired	The change in the carrying amount of VOBA for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Amortization expense $ (7,602 ) $ (6,770 ) $ (12,973 ) $ (11,549 ) Unlocking (9 ) (9 ) (18 ) (84 ) Impairment charge - - - - Adjustment related to realized (gains) losses on investments 526 62 467 55 Adjustment related to unrealized (gains) losses and OTTI on investments (7,318 ) 8,881 (12,416 ) 5,720 Change in VOBA carrying amount $ (14,403 ) $ 2,164 $ (24,940 ) $ (5,858 )
Change in Carrying Amount of Deferred Acquisition Costs	The change in the carrying amount of DAC for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, DAC 2016 2015 2016 2015 Capitalization $ 17 $ 42 $ 20 $ 74 Accretion (amortization) expense 516 (5,165 ) (416 ) (3,787 ) Unlocking (16 ) (24 ) (26 ) (51 ) Change in DAC carrying amount $ 517 $ (5,147 ) $ (422 ) $ (3,764 )
Change in Carrying Amount of Deferred Sales Inducements	The change in the carrying amount of DSI for the three and six months ended June 30 was as follows: Three Months Ended Six Months Ended June 30, June 30, DSI 2016 2015 2016 2015 Capitalization $ 1 $ 4 $ 3 $ 5 Accretion (amortization) expense 118 (1,172 ) (94 ) (857 ) Unlocking (4 ) (6 ) (6 ) (12 ) Change in DSI carrying amount $ 115 $ (1,174 ) $ (97 ) $ (864 )

Variable Contracts Containing26

Variable Contracts Containing Guaranteed Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Components of Changes in Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits Liabilities	The components of the changes in the GMDB and GMIB liabilities for the three and six months ended June 30 were as follows: Three Months Ended Six Months Ended June 30, June 30, GMDB 2016 2015 2016 2015 Guaranteed benefits incurred $ 6,486 $ 6,602 $ 12,866 $ 13,084 Guaranteed benefits paid (7,184 ) (7,987 ) (13,298 ) (12,785 ) Unlocking (2,630 ) 3,785 4,841 (725 ) Total $ (3,328 ) $ 2,400 $ 4,409 $ (426 ) Three Months Ended Six Months Ended June 30, June 30, GMIB 2016 2015 2016 2015 Guaranteed benefits incurred $ 3,529 $ 2,781 $ 6,765 $ 5,662 Guaranteed benefits paid (1,308 ) (290 ) (1,406 ) (336 ) Unlocking (1,911 ) 276 5,180 (3,316 ) Total $ 310 $ 2,767 $ 10,539 $ 2,010

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Provision for Income Tax Receivable (Payable)	The provision for income tax asset (liability) consists of the following for the periods ended June 30, 2016 and December 31, 2015: June 30, 2016 December 31, Current federal income tax liability $ (179 ) $ (179 ) Current state income tax liability (287 ) (287 ) Deferred federal income tax liability (1,620 ) (1,620 ) Deferred state income tax assets 1,512 1,512 Net income tax liability $ (574 ) $ (574 )
Components of Change in Unrecognized Tax Benefits	The components of the change in the unrecognized tax benefits were as follows: June 30, 2016 December 31, 2015 Balance at beginning of period $ 3,404 $ 3,041 Additions for tax positions of prior years - 363 Additions for tax positions of current year - 293 Reductions for tax positions of current year - (293 ) Balance at end of period $ 3,404 $ 3,404

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Income ("AOCI") (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income	The following table presents the change in AOCI by component for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, 2016 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 141,722 $ 2,855 $ (48,242 ) $ 96,335 OCI before reclassifications 40,786 1,290 (7,318 ) 34,758 Amounts reclassified from AOCI 68 513 - 581 Net current period OCI $ 40,854 $ 1,803 $ (7,318 ) $ 35,339 Ending balance $ 182,576 $ 4,658 $ (55,560 ) $ 131,674 Six Months Ended June 30, 2016 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 95,533 $ 4,202 $ (43,144 ) $ 56,591 OCI before reclassifications 88,654 140 (12,416 ) 76,378 Amounts reclassified from AOCI (1,611 ) 316 - (1,295 ) Net current period OCI $ 87,043 $ 456 $ (12,416 ) $ 75,083 Ending balance $ 182,576 $ 4,658 $ (55,560 ) $ 131,674 Three Months Ended June 30, 2015 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 191,016 $ 2,584 $ (60,437 ) $ 133,163 OCI before reclassifications (68,286 ) (362 ) 8,881 (59,767 ) Amounts reclassified from AOCI 60 626 686 Net current period OCI $ (68,226 ) $ 264 $ 8,881 $ (59,081 ) Ending balance $ 122,790 $ 2,848 $ (51,556 ) $ 74,082 Six Months Ended June 30, 2015 Unrealized Holding Unrealized Holding OCI Adjustments for Total (a) Beginning balance $ 164,221 $ 2,296 $ (57,275 ) $ 109,242 OCI before reclassifications (42,653 ) 726 5,719 (36,208 ) Amounts reclassified from AOCI 1,222 (174 ) 1,048 Net current period OCI $ (41,431 ) $ 552 $ 5,719 $ (35,160 ) Ending balance $ 122,790 $ 2,848 $ (51,556 ) $ 74,082 (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 three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended AOCI Components Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ (68 ) $ 1,732 Net realized investment gains (losses) - (121 ) Portion of OTTI previously recognized in OCI $ (68 ) $ 1,611 Total before tax - - Tax expense (benefit) $ (68 ) $ 1,611 Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (513 ) $ (316 ) Net investment income $ (513 ) $ (316 ) Total before tax - - Tax expense (benefit) $ (513 ) $ (316 ) Net of tax Total amounts reclassified from AOCI $ (581 ) $ 1,295 Three Months Ended Six Months Ended AOCI Components Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Unrealized holding gains (losses) on AFS securities Available-for-sale securities $ 42 $ (1,120 ) Net realized investment gains (losses) (102 ) (102 ) Portion of OTTI previously recognized in OCI $ (60 ) $ (1,222 ) Total before tax - - Tax expense (benefit) $ (60 ) $ (1,222 ) Net of tax Unrealized holding losses on cash flow hedges Interest rate swaps $ (626 ) $ 174 Net investment income $ (626 ) $ 174 Total before tax - - Tax expense (benefit) $ (626 ) $ 174 Net of tax Total amounts reclassified from AOCI $ (686 ) $ (1,048 )

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2016
Affiliated Purchasing and Selling of Investments Between Affiliated Companies	The purchasing and selling of investments between affiliated companies for the three and six months ended June 30, 2016 and 2015 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Investments purchased from related parties: Fixed maturities $ - $ - $ - $ 30,356 Mortgages - 4,000 - 4,000 Limited partnerships - - 10,000 - Investments sold to related parties: Fixed maturities - 3,475 62,859 24,878

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
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 three and six months ended June 30, 2016 and 2015: Annuity Life Total Three months ended June 30, 2016 Net revenues (a) $ 29,805 $ 15,108 $ 44,913 Amortization (accretion) of VOBA 1,356 6,255 7,611 Policy benefits (net of reinsurance recoveries) 12,902 8,957 21,859 Income tax expense (benefit) 1,324 (1,324 ) - Net income (loss) 5,473 228 5,701 Three months ended June 30, 2015 Net revenues (a) $ 15,418 $ 27,760 $ 43,178 Amortization of VOBA 4,082 2,697 6,779 Policy benefits (net of reinsurance recoveries) 11,942 12,584 24,526 Income tax expense (benefit) (367 ) 367 - Net income (loss) (6,958 ) 2,003 (4,955 ) Annuity Life Insurance Total Six months ended June 30, 2016 Net revenues (a) $ 66,506 $ 31,105 $ 97,611 Amortization of VOBA 3,089 9,902 12,991 Policy benefits (net of reinsurance recoveries) 41,555 23,358 64,913 Income tax expense (benefit) 2,601 (2,601 ) - Net income (loss) 412 (1,315 ) (903 ) Six months ended June 30, 2015 Net revenues (a) $ 43,841 $ 38,055 $ 81,896 Amortization (accretion) of VOBA 5,309 6,324 11,633 Policy benefits (net of reinsurance recoveries) 16,504 21,327 37,831 Income tax expense (benefit) (1,624 ) 1,624 - Net income (loss) (1,005 ) 6,703 5,698 (a) Net revenues include total revenues net of interest credited to policyholder liabilities.

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Additional Information (Detail)	Jun. 30, 2016StateCountry
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

Hierarchy of Assets and Liabili

Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Assets
Fixed maturity available-for-sale securities, at estimated fair value		$ 1,745,072	$ 1,665,337
Equity available-for-sale securities		33,827	34,667
Derivative assets		1,123	10,893
Limited partnerships		69,489	63,489
Fair value recoverable of ceded GMIB embedded derivatives		73,834	61,426
Separate Accounts assets		5,668,318	5,940,665
Liabilities
Derivative liabilities		2,470	13,075
Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		1,022,552	1,016,792
Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		84,397	122,654
Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		81,517	71,683
Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value		161,539	59,265
Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value		807	807
Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value		386,018	386,288
Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value		8,242	7,848
Banking securities
Assets
Equity available-for-sale securities		27,938	28,673
Industrial securities
Assets
Equity available-for-sale securities		5,889	5,994
Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,745,072	1,665,337
Equity available-for-sale securities	[1]	33,827	34,667
Cash equivalents	[2]	330,702	234,500
Derivative assets	[3]	1,123	10,893
Limited partnerships	[4]	69,489	63,489
Fair value recoverable of ceded GMIB embedded derivatives	[5]	73,834	61,426
Separate Accounts assets	[6]	5,668,318	5,940,665
Total assets		7,922,365	8,010,977
Liabilities
Future policy benefits (embedded derivatives only)	[7]	85,001	61,129
Derivative liabilities	[3]	2,470	13,075
Total liabilities		87,471	74,204
Fair Value, Measurements, Recurring | Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,022,552	1,016,792
Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	84,397	122,654
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	81,517	71,683
Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	161,539	59,265
Fair Value, Measurements, Recurring | Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	807	807
Fair Value, Measurements, Recurring | Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	386,018	386,288
Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	8,242	7,848
Fair Value, Measurements, Recurring | Banking securities
Assets
Equity available-for-sale securities	[1]	27,938	28,673
Fair Value, Measurements, Recurring | Industrial securities
Assets
Equity available-for-sale securities	[1]	5,889	5,994
Level 1 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	387,543	387,787
Separate Accounts assets	[6]	5,668,318	5,940,665
Total assets		6,055,861	6,328,452
Level 1 | Fair Value, Measurements, Recurring | Government and government agencies - United States
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	386,018	386,288
Level 1 | Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,525	1,499
Level 2 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,350,769	1,270,884
Equity available-for-sale securities	[1]	33,827	34,667
Cash equivalents	[2]	330,702	234,500
Derivative assets	[3]	1,123	10,893
Limited partnerships	[4]	59,113	61,373
Total assets		1,775,534	1,612,317
Liabilities
Derivative liabilities	[3]	2,470	13,075
Total liabilities		2,470	13,075
Level 2 | Fair Value, Measurements, Recurring | Corporate securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	1,022,552	1,016,792
Level 2 | Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	77,637	115,988
Level 2 | Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	81,517	71,683
Level 2 | Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	161,539	59,265
Level 2 | Fair Value, Measurements, Recurring | Municipals
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	807	807
Level 2 | Fair Value, Measurements, Recurring | Government and government agencies - Foreign
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	6,717	6,349
Level 2 | Fair Value, Measurements, Recurring | Banking securities
Assets
Equity available-for-sale securities	[1]	27,938	28,673
Level 2 | Fair Value, Measurements, Recurring | Industrial securities
Assets
Equity available-for-sale securities	[1]	5,889	5,994
Level 3 | Fair Value, Measurements, Recurring
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	6,760	6,666
Limited partnerships	[4]	10,376	2,116
Fair value recoverable of ceded GMIB embedded derivatives	[5]	73,834	61,426
Total assets		90,970	70,208
Liabilities
Future policy benefits (embedded derivatives only)	[7]	85,001	61,129
Total liabilities		85,001	61,129
Level 3 | Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Fixed maturity available-for-sale securities, at estimated fair value	[1]	$ 6,760	$ 6,666
[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 June 30, 2016 and December 31, 2015, there were no fixed maturity AFS securities 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 investments in two limited partnerships for which the fair values are derived from management's review of the financial information that is obtained from the private equity funds and prepared on a GAAP basis and are considered Level 3 measurements. The valuation input of these financial statements is on a one quarter lag.
[5]	Guaranteed minimum income benefit ("GMIB") reinsurance is treated as embedded derivatives and is reported as a recoverable of ceded GMIB embedded derivatives, at fair value in the 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 two 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 Liabi33

Hierarchy of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) - Maximum	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity AFS securities, valued using internal models	0.00%	0.00%
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		6 Months Ended	12 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		$ 70,208
Balance at end of period		90,970	$ 70,208
Limited partnership
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	[1]	2,116	4,086
Purchases		11,145
Sales		(2,516)	(252)
Changes in valuation	[2]	(368)	(1,718)
Net realized investment gains	[3]	(1)
Balance at end of period	[1]	10,376	2,116
Fixed maturity AFS securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	[1]	6,666	8,474
Change in unrealized losses	[4]	166	(376)
Purchases			1,999
Sales		(65)	(126)
Transfers into Level 3		1,947	2,049
Transfers out of Level 3		(1,954)	(5,354)
Balance at end of period	[1]	$ 6,760	$ 6,666
[1]	Recorded as a component of limited partnerships and fixed maturity AFS securities in the Balance Sheets.
[2]	Recorded as a component of net investment income in the Statements of Income.
[3]	Recorded as a component of net realized investment gains (losses) for fixed maturity and net investment income for limited partnerships in the Statements of Income.
[4]	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 Instr35

Fair Value of Financial Instruments - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Measurement Inputs, Disclosure [Line Items]
Own credit risk	0.50%	0.40%
Long-term forward rate assumption	25.00%	25.00%
Market based implied volatility inputs	5 years
Standard and Poor's Composite Stock Price Index, Year 20
Fair Value, Measurement Inputs, Disclosure [Line Items]
Long-term forward rate assumption	24.40%	24.20%

Summary of Changes in Fair Valu

Summary of Changes in Fair Value of Level 3 Liabilities (Assets) (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period		$ 61,129
Liabilities, balance at end of period		85,001	$ 61,129
Assets, Balance at beginning of period		(70,208)
Assets, balance at end of period		(90,970)	(70,208)
GMIB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, Balance at beginning of period	[1]	(61,426)	(60,573)
Assets, balance at end of period	[1]	(73,834)	(61,426)
GMIB | Interest rates
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, gain (loss) included in earnings	[2]	(13,069)	979
GMIB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, gain (loss) included in earnings	[2]	808	(1,976)
GMIB | Other
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets, gain (loss) included in earnings	[2]	(147)	144
GMWB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period	[1]	60,618	60,702
Liabilities, balance at end of period	[1]	84,490	60,618
GMWB | Interest rates
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, gain (loss) included in earnings	[2]	20,657	(1,890)
GMWB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, gain (loss) included in earnings	[2]	3,361	9,182
GMWB | Other
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, gain (loss) included in earnings	[2]	(146)	(7,376)
SALB
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, balance at beginning of period	[1]	511	504
Liabilities, balance at end of period	[1]	$ 511	511
SALB | Equity markets
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, gain (loss) included in earnings	[2]		$ 7
[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 embedded 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		6 Months Ended	12 Months Ended
		Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value		$ 90,970	$ 70,208
Future policy benefits (embedded derivatives), fair value		$ 85,001	$ 61,129
Own credit risk		0.50%	0.40%
Long-term volatility		25.00%	25.00%
Fixed maturity AFS securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value	[1]	$ 6,760	$ 6,666	$ 8,474
Fixed maturity AFS securities | Asset-backed securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value		3,821	6,666
Fixed maturity AFS securities | Asset-backed securities 2
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value		2,939
Limited partnership
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value	[1]	10,376	2,116	4,086
GMWB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Future policy benefits (embedded derivatives), fair value	[2]	84,490	60,618	60,702
GMIB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Estimated Fair Value	[2]	73,834	61,426	60,573
SALB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Future policy benefits (embedded derivatives), fair value	[2]	$ 511	$ 511	$ 504
Level 3 | Fixed maturity AFS securities | Asset-backed securities
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Broker
Level 3 | Fixed maturity AFS securities | Asset-backed securities 2
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Recent Purchase Price
Level 3 | Limited partnership
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique	[3]	Not applicable
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		0.50%	0.40%
Long-term volatility		25.00%
Long-term volatility			25.00%
Long-term volatility		30.00%
Level 3 | GMIB
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Valuation Technique		Discounted cash flows
Level 3 | GMIB | Weighted Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Own credit risk		0.50%	0.40%
Long-term volatility		25.00%
Long-term volatility			25.00%
Long-term volatility		30.00%
[1]	Recorded as a component of limited partnerships and fixed maturity AFS securities 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 embedded derivatives, at fair value in the Balance Sheets.
[3]	The Company has obtained non-binding broker quotes which cannot be corroborated by market observable data, to assist in determining the fair values of the Level 3 asset-backed securities. The Company does not receive the unobservable inputs used by the broker but performs annual reviews to approve the use of brokers and obtains an asset specialist's review of the broker's price.

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		Jun. 30, 2016	Dec. 31, 2015
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		$ 750,996	$ 754,389
Mortgage loans on real estate
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[1]	111,646	92,923
Policy loans
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[2]	639,350	661,466
Level 2
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		639,350	661,466
Level 2 | Policy loans
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[2]	639,350	661,466
Level 3
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets		111,646	92,923
Level 3 | Mortgage loans on real estate
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items]
Assets	[1]	$ 111,646	$ 92,923
[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 similar remaining maturities.
[2]	Policy loans are stated at unpaid principal balance. The book value of policy loans approximates their fair value.

Amortized Cost_Cost, Gross Unre

Amortized Cost/Cost, Gross Unrealized Gains and Losses, Estimated Fair Values and Impairments Reflected in Other Comprehensive Income of Investments in Fixed Maturity and Equity Available-for-Sale Securities (Detail) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		$ 1,563,773	$ 1,570,693
Gross Unrealized Gains		187,996	114,402
Gross Unrealized Losses		(6,697)	(19,758)
Fixed maturity available-for-sale securities, at estimated fair value		1,745,072	1,665,337
Gross Unrealized OTTI in AOCI	[1]	(38)	(42)
Equity available-for-sale securities, cost		32,548	33,777
Gross Unrealized Gains		1,892	1,972
Gross Unrealized Losses		(613)	(1,082)
Equity available-for-sale securities, at estimated fair value		33,827	34,667
Gross Unrealized OTTI in AOCI	[1]	0	0
Banking securities
Schedule of Available-for-sale Securities [Line Items]
Equity available-for-sale securities, cost		26,757	27,986
Gross Unrealized Gains		1,794	1,769
Gross Unrealized Losses		(613)	(1,082)
Equity available-for-sale securities, at estimated fair value		27,938	28,673
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		98	203
Equity available-for-sale securities, at estimated fair value		5,889	5,994
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		943,739	977,900
Gross Unrealized Gains		84,492	57,648
Gross Unrealized Losses		(5,679)	(18,756)
Fixed maturity available-for-sale securities, at estimated fair value		1,022,552	1,016,792
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		82,028	118,993
Gross Unrealized Gains		2,780	4,140
Gross Unrealized Losses		(411)	(479)
Fixed maturity available-for-sale securities, at estimated fair value		84,397	122,654
Gross Unrealized OTTI in AOCI	[1]	(11)	(42)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		77,311	70,083
Gross Unrealized Gains		4,217	1,904
Gross Unrealized Losses		(11)	(304)
Fixed maturity available-for-sale securities, at estimated fair value		81,517	71,683
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		158,469	56,527
Gross Unrealized Gains		3,562	2,819
Gross Unrealized Losses		(492)	(81)
Fixed maturity available-for-sale securities, at estimated fair value		161,539	59,265
Gross Unrealized OTTI in AOCI	[1]	(27)
Municipals
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		911	913
Gross Unrealized Losses		(104)	(106)
Fixed maturity available-for-sale securities, at estimated fair value		807	807
Government and government agencies - United States
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		294,764	339,686
Gross Unrealized Gains		91,254	46,634
Gross Unrealized Losses			(32)
Fixed maturity available-for-sale securities, at estimated fair value		386,018	386,288
Government and government agencies - Foreign
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost		6,551	6,591
Gross Unrealized Gains		1,691	1,257
Fixed maturity available-for-sale securities, at estimated fair value		$ 8,242	$ 7,848
[1]	Represents other-than-temporary impairments ("OTTI") in Accumulated Other Comprehensive Income ("AOCI"), which were not included in earnings. Amount excludes $1,837 and $2,515 of unrealized gains at June 30, 2016 and December 31, 2015, respectively.

Amortized Cost_Cost, Gross Un40

Amortized Cost/Cost, Gross Unrealized Gains and Losses, Estimated Fair Values and Impairments Reflected in Other Comprehensive Income of Investments in Fixed Maturity and Equity Available-for-Sale Securities (Parenthetical) (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Unrealized gains	$ 1,837	$ 2,515

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	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	$ 1,563,773	$ 1,570,693
Fixed maturity available-for-sale securities, at estimated fair value	1,745,072	1,665,337
Investment grade
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	1,461,611	1,467,677
Fixed maturity available-for-sale securities, at estimated fair value	1,642,016	1,565,053
Below investment grade
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, amortized cost	102,162	103,016
Fixed maturity available-for-sale securities, at estimated fair value	$ 103,056	$ 100,284

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands		3 Months Ended	6 Months Ended	12 Months Ended
		Jun. 30, 2016USD ($)Investment	Jun. 30, 2016USD ($)InvestmentLoan	Dec. 31, 2015USD ($)InvestmentLoan
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, at estimated fair value		$ 1,745,072	$ 1,745,072	$ 1,665,337
Number of Securities | Investment		68	68	133
Gross Unrealized Losses	[1]	$ (7,310)	$ (7,310)	$ (20,840)
Estimated Fair Value		126,457	126,457	283,146
Prepayment premiums		0	0	335
General reserve		$ 74	$ 74	$ 78
Number of impaired mortgages loans | Loan			0	0
Minimum percentage of fair value of loaned securities		102.00%	102.00%
Deferred net losses on derivatives recorded in AOCI that are expected to be reclassified during the next 12 months		$ 631	$ 631
Fair value of threshold due to credit support agreement		1,000	1,000
Cash collateral received from counterparties		33,536	33,536	$ 11,405
Other financial assets, subject to offsetting		$ 0	$ 0	2,735
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Concentrations of mortgage loans		81.00%	81.00%
General Reserves
Schedule of Available-for-sale Securities [Line Items]
General reserve		$ 74	$ 74	78
Other Financial Liabilities
Schedule of Available-for-sale Securities [Line Items]
Other financial liabilities, subject to offsetting		$ 0	$ 0	$ 0
Decline > 20%
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Investment		1	1	5
Gross Unrealized Losses		$ (575)	$ (575)	$ (4,052)
Estimated Fair Value		$ 1,137	$ 1,137	$ 11,372
Decline > 40%
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Investment		1	1	4
Gross Unrealized Losses		$ (814)	$ (814)	$ (7,279)
Estimated Fair Value		1,175	1,175	5,357
Other Financial Assets
Schedule of Available-for-sale Securities [Line Items]
Other financial assets, subject to offsetting		0	0	0
Future
Schedule of Available-for-sale Securities [Line Items]
Collateral, fair value		6,168	6,168	4,136
Standard & Poor's, BBB rating
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity available-for-sale securities, at estimated fair value		68,640	68,640	79,958
Estimate of Fair Value, Fair Value Disclosure
Schedule of Available-for-sale Securities [Line Items]
Assets		750,996	750,996	754,389
Estimate of Fair Value, Fair Value Disclosure | Mortgage loans on real estate
Schedule of Available-for-sale Securities [Line Items]
Assets	[2]	$ 111,646	$ 111,646	$ 92,923
[1]	Subsequent unrealized gains (losses) on OTTI securities are included in OCI-OTTI.
[2]	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.

Amortized Cost and Estimated 43

Amortized Cost and Estimated Fair Value of Fixed Maturity Available-for-Sale Securities by Contractual Maturities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Amortized cost of fixed maturity AFS securities
Amortized cost of fixed maturity AFS securities due in one year or less	$ 72,334	$ 64,114
Amortized cost of fixed maturity AFS securities due after one year through five years	535,068	564,707
Amortized cost of fixed maturity AFS securities due after five years through ten years	151,972	230,858
Amortized cost of fixed maturity AFS securities due after ten years	486,591	465,410
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Total	1,245,965	1,325,089
Amortized cost of mortgage-backed securities and other asset-backed securities	317,808	245,604
Fixed maturity available-for-sale securities, amortized cost	1,563,773	1,570,693
Estimated fair value of fixed maturity AFS securities
Estimated fair value of fixed maturity AFS securities due in one year or less	72,911	65,086
Estimated fair value of fixed maturity AFS securities due after one year through five years	577,160	599,965
Estimated fair value of fixed maturity AFS securities due after five years through ten years	163,110	230,815
Estimated fair value of fixed maturity AFS securities due after ten years	604,437	515,868
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Total	1,417,618	1,411,734
Estimated fair value of mortgage-backed securities and other asset-backed securities	327,454	253,603
Fixed maturity available-for-sale securities, at estimated fair value	$ 1,745,072	$ 1,665,337

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		Jun. 30, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		$ 126,457	$ 283,146
Amortized Cost/Cost		133,767	303,986
Gross Unrealized Losses and OTTI	[1]	(7,310)	(20,840)
Less than or equal to six months
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		49,290	229,334
Amortized Cost/Cost		50,241	239,090
Gross Unrealized Losses and OTTI	[1]	(951)	(9,756)
Less than or equal to six months | Fixed maturity AFS securities | Corporate securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		8,146	130,718
Amortized Cost/Cost		8,604	139,846
Gross Unrealized Losses and OTTI	[1]	(458)	(9,128)
Less than or equal to six months | Fixed maturity AFS securities | Asset-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		24,005	59,051
Amortized Cost/Cost		24,164	59,312
Gross Unrealized Losses and OTTI	[1]	(159)	(261)
Less than or equal to six months | Fixed maturity AFS securities | Commercial mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		2,674	17,185
Amortized Cost/Cost		2,680	17,450
Gross Unrealized Losses and OTTI	[1]	(6)	(265)
Less than or equal to six months | Fixed maturity AFS securities | Residential mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		14,465	3,896
Amortized Cost/Cost		14,793	3,966
Gross Unrealized Losses and OTTI	[1]	(328)	(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
Amortized Cost/Cost			18,516
Gross Unrealized Losses and OTTI	[1]		(32)
Greater than six months but less than or equal to one year
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		34,434	30,335
Amortized Cost/Cost		37,113	33,118
Gross Unrealized Losses and OTTI	[1]	(2,679)	(2,783)
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		24,978	27,872
Amortized Cost/Cost		27,383	30,597
Gross Unrealized Losses and OTTI	[1]	(2,405)	(2,725)
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		6,734	455
Amortized Cost/Cost		6,887	463
Gross Unrealized Losses and OTTI	[1]	(153)	(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		481	988
Amortized Cost/Cost		486	1,028
Gross Unrealized Losses and OTTI	[1]	(5)	(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		2,241	1,020
Amortized Cost/Cost		2,357	1,030
Gross Unrealized Losses and OTTI	[1]	(116)	(10)
Greater than one year
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		42,733	23,477
Amortized Cost/Cost		46,413	31,778
Gross Unrealized Losses and OTTI	[1]	(3,680)	(8,301)
Greater than one year | Fixed maturity AFS securities | Corporate securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		26,157	8,628
Amortized Cost/Cost		28,973	15,531
Gross Unrealized Losses and OTTI	[1]	(2,816)	(6,903)
Greater than one year | Fixed maturity AFS securities | Asset-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		5,269	4,788
Amortized Cost/Cost		5,368	4,999
Gross Unrealized Losses and OTTI	[1]	(99)	(211)
Greater than one year | Fixed maturity AFS securities | Residential mortgage-backed securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		817	39
Amortized Cost/Cost		865	40
Gross Unrealized Losses and OTTI	[1]	(48)	(1)
Greater than one year | Fixed maturity AFS securities | Municipals
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		807	808
Amortized Cost/Cost		911	912
Gross Unrealized Losses and OTTI	[1]	(104)	(104)
Greater than one year | Equity AFS securities | Banking securities
Gain (Loss) on Investments [Line Items]
Estimated Fair Value		9,683	9,214
Amortized Cost/Cost		10,296	10,296
Gross Unrealized Losses and OTTI	[1]	$ (613)	$ (1,082)
[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	Jun. 30, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of taxes	$ 131,674	$ 56,591
Unrealized Holding Gains (Losses) on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes	153,007	77,924
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	181,297	94,644
Unrealized Holding Gains (Losses) on AFS Securities | Equity AFS securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes	1,279	890
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	(34,229)	(21,812)
Unrealized Holding Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), before taxes	4,660	4,202
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)

Change in Credit Loss Allowance

Change in Credit Loss Allowances on Mortgage Loans by Type of Property (Detail) - Commercial mortgage loans - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Beginning balance	$ 78	$ 36
Provision	(4)	42
Ending balance	$ 74	$ 78

Credit Quality of Mortgage Loan

Credit Quality of Mortgage Loans by Type of Property (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	$ 107,023	$ 92,992
Less: reserves	(74)	(78)
Total mortgage loans on real estate, net	106,949	92,914
AAA - AA
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	35,841	31,835
A
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	59,153	49,084
BBB
Financing Receivable, Recorded Investment [Line Items]
Mortgage loans on real estate	$ 12,029	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	Jun. 30, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Payables for collateral under securities loaned	$ 297,136	$ 194,537
Securities lending agreements
Securities Financing Transaction [Line Items]
Payables for collateral under securities loaned	212,793	194,537
Amortized cost of securities out on loan	159,906	162,698
Estimated fair value of securities out on loan	$ 205,204	$ 188,689

Summary of Securities Under Rev

Summary of Securities Under Reverse Repurchase Agreements (Detail) - Reverse purchase agreement $ in Thousands	Jun. 30, 2016USD ($)
Securities Financing Transaction [Line Items]
Payable for reverse repurchase agreements	$ 66,390
Amortized cost of securities pledged	65,832
Estimated fair value of securities pledged	$ 66,846

Collateral Maturities of Revers

Collateral Maturities of Reverse Repurchase Agreements and Securities Lending Transactions (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 66,846
Securities lending transactions	205,204
Total Borrowings	272,050	$ 188,689
Gross amount of recognized liabilities for reverse repurchase agreements and securities lending in balance sheets	279,183	194,537
Residential mortgage-backed securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	66,846
Corporate securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	35,169	19,786
Equity AFS securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	756	13,317
US Government Corporations and Agencies Securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	169,279	155,586
Maturity Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	205,204
Total Borrowings	205,204	188,689
Maturity Overnight and Continuous | Corporate securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	35,169	19,786
Maturity Overnight and Continuous | Equity AFS securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	756	13,317
Maturity Overnight and Continuous | US Government Corporations and Agencies Securities
Assets Sold under Agreements to Repurchase [Line Items]
Securities lending transactions	169,279	$ 155,586
Maturity up to 30 Days
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	66,846
Total Borrowings	66,846
Maturity up to 30 Days | Residential mortgage-backed securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements and repurchase-to-maturity transactions	$ 66,846

Notional and Fair Value of Non-

Notional and Fair Value of Non-Qualifying Hedging Instruments Hedging Instruments and Cash Flows Hedges (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative, notional value	$ 1,427,526	$ 2,454,299
Derivative, fair value	14,926	9,223
Non-qualifying hedging
Derivative [Line Items]
Derivative, notional value	1,377,642	2,404,415
Derivative, fair value	11,499	5,938
Non-qualifying hedging | Future | Short
Derivative [Line Items]
Derivative, notional value	27,173	47,221
Non-qualifying hedging | Future | Long
Derivative [Line Items]
Derivative, notional value	63,722	51,573
Non-qualifying hedging | Interest Rate Swap
Derivative [Line Items]
Derivative, notional value	244,000	192,000
Derivative, fair value	11,541	(2,228)
Non-qualifying hedging | Variance swaps
Derivative [Line Items]
Derivative, notional value	580	675
Derivative, fair value	(1,233)	(1,525)
Non-qualifying hedging | Total Return Swap
Derivative [Line Items]
Derivative, notional value	686,440	1,315,900
Derivative, fair value	585	(1,429)
Non-qualifying hedging | Options
Derivative [Line Items]
Derivative, notional value	145,727	587,046
Derivative, fair value	836	11,055
Non-qualifying hedging | Credit Default Swaps
Derivative [Line Items]
Derivative, notional value	210,000	210,000
Derivative, fair value	(230)	65
Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional value	49,884	49,884
Derivative, fair value	3,427	3,285
Designated as Hedging Instrument | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional value	49,884	49,884
Derivative, fair value	$ 3,427	$ 3,285

Net Derivative Gains (Losses) R

Net Derivative Gains (Losses) Recognized in Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	$ (6,665)	$ (13,291)	$ (3,294)	$ (34,213)
Future | Short
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(1,154)	(42)	(2,459)	(1,359)
Future | Long
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	3,138		6,991
Variance swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(1,033)	(973)	(1,670)	(2,215)
Total Return Swap
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(10,996)	(15,173)	(17,039)	(34,425)
Options
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	(1,784)	2,455	(3,235)	2,455
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	5,079	2	13,771	3
Credit Default Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses	$ 85	$ 440	$ 347	$ 1,328

Maximum Potential Amount of Fut

Maximum Potential Amount of Future Payments, Credit Rating and Maturity Dates for Credit Default Swaps (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Credit Derivatives [Line Items]
Maximum Potential Amount of Future Payments	$ 210,000	$ 210,000
Corporate securities
Credit Derivatives [Line Items]
Maximum Potential Amount of Future Payments	$ 120,000	120,000
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	$ 90,000
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	2020-03

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	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 1,803	$ 264	$ 456	$ 552
Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	1	2	3	3
Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	(513)	(626)	(316)	174
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	1,803	264	456	552
Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	1	2	3	3
Interest Rate Swap | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	$ (513)	$ (626)	$ (316)	$ 174

Offsetting Derivatives Assets (

Offsetting Derivatives Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	$ 25,776	$ 38,125
Gross Amounts of Recognized Financial Liabilities Set Off in the Balance Sheet	8,380	15,827
Derivative cash Collateral Held, Obligation to Return Cash	16,273	11,405
Net Amounts of Assets Presented in the Balance Sheet	1,123	10,893
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	1,123	8,158
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received (excluding) Surplus Collateral)	0	0
Net Amount	0	2,735
Fair Value of Financial Instruments Received as Collateral Not Set Off in the Balance Sheet	8,177	9,260
Derivatives
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	25,776	38,125
Gross Amounts of Recognized Financial Liabilities Set Off in the Balance Sheet	8,380	15,827
Derivative cash Collateral Held, Obligation to Return Cash	16,273	11,405
Net Amounts of Assets Presented in the Balance Sheet	1,123	10,893
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	1,123	8,158
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received (excluding) Surplus Collateral)	0	0
Net Amount	0	2,735
Fair Value of Financial Instruments Received as Collateral Not Set Off in the Balance Sheet	$ 8,177	$ 9,260

Offsetting Derivative Liabiliti

Offsetting Derivative Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	$ 10,850	$ 28,902
Gross Amounts of Recognized Financial Assets Set Off in the Balance Sheet	8,380	15,827
Derivative cash Collateral Pledged, Right to Receive Cash	0	0
Net Amounts of Liabilities Presented in the Balance Sheet	2,470	13,075
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	521	10,847
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Pledged	0	0
Net Amount	1,949	2,228
Fair Value of Financial Instruments Pledged as Collateral Not Set Off in the Balance Sheet	1,417	16,440
Derivatives
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	10,850	28,902
Gross Amounts of Recognized Financial Assets Set Off in the Balance Sheet	8,380	15,827
Derivative cash Collateral Pledged, Right to Receive Cash	0	0
Net Amounts of Liabilities Presented in the Balance Sheet	2,470	13,075
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	521	10,847
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Pledged	0	0
Net Amount	1,949	2,228
Fair Value of Financial Instruments Pledged as Collateral Not Set Off in the Balance Sheet	$ 1,417	$ 16,440

Net Investment Income By Source

Net Investment Income By Source (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Investment Income [Line Items]
Gross investment income	$ 29,484	$ 29,623	$ 57,057	$ 60,133
Less investment expenses	(1,870)	(1,207)	(2,991)	(2,190)
Net investment income	27,614	28,416	54,066	57,943
Limited partnership
Net Investment Income [Line Items]
Gross investment income	(90)	429	(2,631)	1,557
Fixed maturity AFS securities
Net Investment Income [Line Items]
Gross investment income	16,863	17,863	34,230	35,924
Policy loans
Net Investment Income [Line Items]
Gross investment income	8,382	8,808	16,991	17,610
Cash and Cash Equivalents
Net Investment Income [Line Items]
Gross investment income	564	162	1,015	308
Equity AFS securities
Net Investment Income [Line Items]
Gross investment income	538	561	1,003	1,031
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income	1,264	937	2,467	1,860
Derivatives
Net Investment Income [Line Items]
Gross investment income	1,857	929	3,769	1,830
Other
Net Investment Income [Line Items]
Gross investment income	$ 106	$ (66)	$ 213	$ 13

Proceeds and Gross Realized Inv

Proceeds and Gross Realized Investment Gains (Losses) from Sale of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Proceeds	$ 97,888	$ 26,696	$ 199,431	$ 92,215
Gross realized investment gains	1,064	1,057	4,943	2,952
Gross realized investment losses	(1)	(403)	(277)	(2,151)
Proceeds on AFS securities sold at a realized loss	$ 16,830	$ 10,993	$ 24,745	$ 27,695

Net Realized Investment Gains (

Net Realized Investment Gains (Losses) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	$ 57	$ (1,146)	$ (77)	$ (1,003)
Fixed maturity AFS securities
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	(481)	(1,387)	(754)	(1,240)
Equity AFS securities
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)		175	207	175
Mortgage loans on real estate
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	12	4	3	7
Valuation of business acquired
Gain (Loss) on Investments [Line Items]
Net realized investment gains (losses)	$ 526	$ 62	$ 467	$ 55

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	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Balance at beginning of period	$ (935)	$ (185)
Additional credit loss impairments recognized in the current period on securities previously impaired through other comprehensive income	121	109
Accretion of credit loss impairments previously recognized	(502)	(859)
Balance at end of period	$ (1,316)	$ (935)

Components of Other-Than-Tempor

Components of Other-Than-Temporary Impairments Reflected in Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI Losses on Securities	$ 1,015	$ 1,866	$ 4,684	$ 1,866
Net OTTI Losses Recognized in OCI	0	0	0	0
Net OTTI Losses Recognized in Income	1,015	1,866	4,684	1,866
Gross OTTI losses
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI Losses on Securities	1,544	1,866	5,213	1,866
Net OTTI Losses Recognized in OCI	0	0	0	0
Net OTTI Losses Recognized in Income	1,544	$ 1,866	5,213	$ 1,866
Value of business acquired amortization
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI Losses on Securities	(529)		(529)
Net OTTI Losses Recognized in OCI	0		0
Net OTTI Losses Recognized in Income	$ (529)		$ (529)

Change in Carrying Amount of Va

Change in Carrying Amount of Value of Business Acquired (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition, Acquisition Related Costs [Line Items]
Adjustment related to realized (gains) losses on investments	$ 57	$ (1,146)	$ (77)	$ (1,003)
Valuation of business acquired
Business Acquisition, Acquisition Related Costs [Line Items]
Amortization expense	(7,602)	(6,770)	(12,973)	(11,549)
Unlocking	(9)	(9)	(18)	(84)
Impairment charge	0	0	0	0
Adjustment related to realized (gains) losses on investments	526	62	467	55
Adjustment related to unrealized (gains) losses and OTTI on investments	(7,318)	8,881	(12,416)	5,720
Change in VOBA carrying amount	$ (14,403)	$ 2,164	$ (24,940)	$ (5,858)

Change in Carrying Amount of De

Change in Carrying Amount of Deferred Acquisition Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
DAC
Capitalization	$ 17	$ 42	$ 20	$ 74
Accretion (amortization) expense	516	(5,165)	(416)	(3,787)
Unlocking	(16)	(24)	(26)	(51)
Change in DAC carrying amount	$ 517	$ (5,147)	$ (422)	$ (3,764)

Change in Carrying Amount of 64

Change in Carrying Amount of Deferred Sales Inducements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
DSI
Capitalization	$ 1	$ 4	$ 3	$ 5
Accretion (amortization) expense	118	(1,172)	(94)	(857)
Unlocking	(4)	(6)	(6)	(12)
Change in DSI carrying amount	$ 115	$ (1,174)	$ (97)	$ (864)

Changes in Guaranteed Minimum D

Changes in Guaranteed Minimum Death Benefits and Guaranteed Minimum Income Benefits Liabilities (Detail) - Variable Annuity Contracts - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Guaranteed benefits incurred	$ 6,486	$ 6,602	$ 12,866	$ 13,084
Guaranteed benefits paid	(7,184)	(7,987)	(13,298)	(12,785)
Unlocking	(2,630)	3,785	4,841	(725)
Total	(3,328)	2,400	4,409	(426)
GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Guaranteed benefits incurred	3,529	2,781	6,765	5,662
Guaranteed benefits paid	(1,308)	(290)	(1,406)	(336)
Unlocking	(1,911)	276	5,180	(3,316)
Total	$ 310	$ 2,767	$ 10,539	$ 2,010

Variable Contracts Containing66

Variable Contracts Containing Guaranteed Benefits - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Future policy benefits	$ 552,500	$ 518,911
GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Future policy benefits	135,787	131,378
GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Future policy benefits	$ 105,587	$ 95,048

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Investments, Owned, Federal Income Tax Note [Line Items]
Federal statutory rate			35.00%	35.00%
Income Tax Expense (Benefit)	$ 0	$ 0	$ 0	$ 0
Valuation allowance for deferred tax assets	108,363		108,363		$ 130,946
Unrecognized income tax benefit, net	3,404		3,404		3,404	$ 3,041
Unrecognized income tax benefit, gross	9,727		9,727		9,727
Operating loss carry forward	623,721		$ 623,721		577,762
Operating loss carry forward, expiration period			15 years
Alternative minimum tax credit carry forward	4,216		$ 4,216		4,216
Penalties expense related to federal income tax			0		0
Interest (income)/expense related to federal income tax			(63)		86
Capital contributions from AEGON USA, LLC				$ 6,842	68,492
Capital distribution payable to Transamerica Corporation /AEGON USA, LLC	13,489		13,489
Foreign
Investments, Owned, Federal Income Tax Note [Line Items]
Tax credit carry forward	9,203		$ 9,203		$ 8,869
Foreign tax credit carry forward, expiration date in year			10 years		10 years
Capital Loss Carry forward
Investments, Owned, Federal Income Tax Note [Line Items]
Tax credit carry forward	$ 84		$ 84		$ 84
Capital loss tax credit carry forward, expiration date in year			5 years		5 years
Capital loss tax credit carry forward, expiration year			2,018
Earliest Tax Year
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carry forward, expiration year			2,023
Latest Tax Year
Investments, Owned, Federal Income Tax Note [Line Items]
Operating loss carry forward, expiration year			2,031
Latest Tax Year | Foreign
Investments, Owned, Federal Income Tax Note [Line Items]
Foreign tax credit carry forward, expiration year			2,026

Provision for Income Tax Asset

Provision for Income Tax Asset (Liability) (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Income Tax [Line Items]
Net income tax receivable (payable)	$ (574)	$ (574)
State and Local Jurisdiction
Income Tax [Line Items]
Current income tax receivable (payable)	(287)	(287)
Deferred income tax receivable (payable)	1,512	1,512
Internal Revenue Service (IRS)
Income Tax [Line Items]
Current income tax receivable (payable)	(179)	(179)
Deferred income tax receivable (payable)	$ (1,620)	$ (1,620)

Components of Change in Unrecog

Components of Change in Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Income Tax Contingency [Line Items]
Balance at beginning of period	$ 3,404	$ 3,041
Additions for tax positions of prior years		363
Additions for tax positions of current year		293
Reductions for tax positions of current year		(293)
Balance at end of period	$ 3,404	$ 3,404

Accumulated Other Comprehensi70

Accumulated Other Comprehensive Income by Component (Detail) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended			12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015		Jun. 30, 2016	Jun. 30, 2015		Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period					$ 1,291,501
OCI before reclassifications	[1]	$ 34,758	$ (59,767)		76,378	$ (36,208)
Amounts reclassified from AOCI	[1]	581	686		(1,295)	1,048
Total other comprehensive income (loss), net of taxes	[1]	35,339	(59,081)		75,083	(35,160)
Balance at end of period		1,277,180			1,277,180			$ 1,291,501
Unrealized Holding Gains (Losses) on AFS Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		141,722	191,016	[1]	95,533	164,221	[1]	164,221	[1]
OCI before reclassifications		40,786	(68,286)	[1]	88,654	(42,653)	[1]
Amounts reclassified from AOCI		68	60	[1]	(1,611)	1,222	[1]
Total other comprehensive income (loss), net of taxes		40,854	(68,226)	[1]	87,043	(41,431)	[1]
Balance at end of period		182,576	122,790	[1]	182,576	122,790	[1]	95,533
Unrealized Holding Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		2,855	2,584	[1]	4,202	2,296	[1]	2,296	[1]
OCI before reclassifications		1,290	(362)	[1]	140	726	[1]
Amounts reclassified from AOCI		513	626	[1]	316	(174)	[1]
Total other comprehensive income (loss), net of taxes		1,803	264	[1]	456	552	[1]
Balance at end of period		4,658	2,848	[1]	4,658	2,848	[1]	4,202
OCI Adjustments for Policy holder liabilities, VOBA, and Deferred Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		(48,242)	(60,437)		(43,144)	(57,275)		(57,275)
OCI before reclassifications		(7,318)	8,881		(12,416)	5,719
Total other comprehensive income (loss), net of taxes		(7,318)	8,881		(12,416)	5,719
Balance at end of period		(55,560)	(51,556)		(55,560)	(51,556)		(43,144)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	[1]	96,335	133,163		56,591	109,242		109,242
Total other comprehensive income (loss), net of taxes					75,083			(52,651)
Balance at end of period	[1]	$ 131,674	$ 74,082		$ 131,674	$ 74,082		$ 56,591
[1]	All amounts are net of tax.

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total amounts reclassified from AOCI, net of tax	$ (581)	$ (686)	$ 1,295	$ (1,048)
Net investment income	27,614	28,416	54,066	57,943
Net realized investment gains (losses)	57	(1,146)	(77)	(1,003)
Portion of OTTI previously recognized in OCI		102	121	102
Income (Loss) Before Taxes	5,701	(4,955)	(903)	5,698
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss)	5,701	(4,955)	(903)	5,698
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)	(68)	42	1,732	(1,120)
Portion of OTTI previously recognized in OCI		(102)	(121)	(102)
Income (Loss) Before Taxes	(68)	(60)	1,611	(1,222)
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss)	(68)	(60)	1,611	(1,222)
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	(513)	(626)	(316)	174
Income (Loss) Before Taxes	(513)	(626)	(316)	174
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss)	$ (513)	$ (626)	$ (316)	$ 174

Stockholder's Equity and Stat72

Stockholder's Equity and Statutory Accounting Principles - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Statutory Accounting Practices [Line Items]
Statutory net (loss) income	$ (53,324)	$ 62,258
Statutory capital and surplus	680,416		$ 790,252
Cash dividend paid	75,000
Return of capital to Transamerica Corporation /AEGON USA, LLC	$ 13,501
Capital contributions from AEGON USA, LLC		$ 6,842	$ 68,492

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Maximum amount of mortality risk retained	$ 1,000
Reinsurance reserve	$ 0	$ 0
GMIB
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Percentage of account value for variable annuity contracts reinsured	34.00%	34.00%
GMDB
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Percentage of account value for variable annuity contracts reinsured	4.00%	4.00%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 18, 2016	Feb. 25, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements			$ 2,374	$ 2,635	$ 4,788	$ 5,505
Intercompany short-term note receivable settled	$ 25,000	$ 25,000
Interest on intercompany note receivable	0.13%	0.36%
Intercompany short-term note receivable, date	Jun. 19, 2015	Feb. 25, 2016
Interest income accrued and/or received due to intercompany arrangements			10	1	27
AEGON USA Investment Management LLC
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements			511	402	1,003	841
AEGON USA Realty Advisors, LLC
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements			44	33	86	66
Transamerica Capital, Inc.
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements			5,984	7,303	12,136	14,653
Transamerica Asset Management, Inc.
Related Party Transaction [Line Items]
Expense incurred as result of multiple service agreements			5	94	82	186
Distribution and shareholder services agreement
Related Party Transaction [Line Items]
Revenue from participation agreement			$ 509	$ 618	$ 1,000	$ 1,236

Affiliated Purchasing and Selli

Affiliated Purchasing and Selling of Investments Between Affiliated Companies (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Investments purchased from related parties, Mortgages		$ 106,949		$ 92,914
Investments purchased from related parties, Limited partnerships		11,145
Affiliated companies
Related Party Transaction [Line Items]
Investments purchased from related parties, Fixed maturities			$ 30,356
Investments purchased from related parties, Mortgages	$ 4,000		4,000
Investments purchased from related parties, Limited partnerships		10,000
Investments sold to related parties, Fixed maturities	$ 3,475	$ 62,859	$ 24,878

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Commitment And Contingencies [Line Items]
Estimated liability for future guarantee fund assessment	$ 144	$ 144
Receivable for future premium tax deduction	$ 4,011	$ 4,240

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Segment
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		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net revenues	[1]	$ 44,913	$ 43,178	$ 97,611	$ 81,896
Amortization (accretion) of VOBA		7,611	6,779	12,991	11,633
Policy benefits (net of reinsurance recoveries)		21,859	24,526	64,913	37,831
Income Tax Expense (Benefit)		0	0	0	0
Net Income (Loss)		5,701	(4,955)	(903)	5,698
Annuity
Segment Reporting Information [Line Items]
Net revenues	[1]	29,805	15,418	66,506	43,841
Amortization (accretion) of VOBA		1,356	4,082	3,089	5,309
Policy benefits (net of reinsurance recoveries)		12,902	11,942	41,555	16,504
Income Tax Expense (Benefit)		1,324	(367)	2,601	(1,624)
Net Income (Loss)		5,473	(6,958)	412	(1,005)
Life Insurance
Segment Reporting Information [Line Items]
Net revenues	[1]	15,108	27,760	31,105	38,055
Amortization (accretion) of VOBA		6,255	2,697	9,902	6,324
Policy benefits (net of reinsurance recoveries)		8,957	12,584	23,358	21,327
Income Tax Expense (Benefit)		(1,324)	367	(2,601)	1,624
Net Income (Loss)		$ 228	$ 2,003	$ (1,315)	$ 6,703
[1]	Net revenues include total revenues net of interest credited to policyholder liabilities.