Horace Mann Educators (HMN) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Registrant Name	HORACE MANN EDUCATORS CORP /DE/
Entity Central Index Key	850,141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	HMN
Entity Common Stock, Shares Outstanding		41,014,552

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Investments
Fixed maturity securities, available for sale, at fair value (amortized cost 2018, $7,292,023; 2017, $7,302,950)	$ 7,475,565	$ 7,724,075
Equity securities, at fair value (cost 2017, $116,320)	130,780	135,466
Limited partnership interests	273,787	247,266
Short-term and other investments	352,700	245,541
Total investments	8,232,832	8,352,348
Cash	8,247	7,627
Deferred policy acquisition costs	292,608	257,826
Goodwill	47,396	47,396
Other assets	379,266	381,182
Separate Account (variable annuity) assets	2,195,865	2,151,961
Total assets	11,156,214	11,198,340
Policy liabilities
Investment contract and life policy reserves	5,634,169	5,573,735
Unpaid claims and claim expenses	379,833	347,749
Unearned premiums	260,088	260,539
Total policy liabilities	6,274,090	6,182,023
Other policyholder funds	718,510	724,261
Other liabilities	319,705	341,053
Long-term debt	297,603	297,469
Separate Account (variable annuity) liabilities	2,195,865	2,151,961
Total liabilities	9,805,773	9,696,767
Preferred stock, $0.001 par value, authorized 1,000,000 shares; none issued	0	0
Common stock, $0.001 par value, authorized 75,000,000 shares; issued, 2018, 65,733,532; 2017, 65,439,245	66	65
Additional paid-in capital	470,652	464,246
Retained earnings	1,248,305	1,231,177
Accumulated other comprehensive income (loss), net of tax:
Net unrealized investment gains on securities	125,596	300,177
Net funded status of benefit plans	(13,217)	(13,217)
Treasury stock, at cost, 2018, 24,723,533 shares; 2017, 24,721,372 shares	(480,961)	(480,875)
Total shareholders’ equity	1,350,441	1,501,573
Total liabilities and shareholders’ equity	$ 11,156,214	$ 11,198,340

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost (in usd)	$ 7,292,023	$ 7,302,950
Equity securities, available for sale, cost (in usd)		$ 116,320
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	65,733,532	65,439,245
Treasury stock (in shares)	24,672,932	24,721,372

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Insurance premiums and contract charges earned	$ 205,610	$ 195,718	$ 408,608	$ 391,440
Net investment income	97,101	91,994	188,965	182,705
Net investment gains (losses)	735	2,072	(919)	1,830
Other income	2,811	1,652	5,092	2,765
Total revenues	306,257	291,436	601,746	578,740
Benefits, losses and expenses
Benefits, claims and settlement expenses	168,278	165,879	311,840	309,975
Interest credited	51,071	49,348	101,105	98,122
DAC amortization expense	26,586	24,808	53,291	49,694
Operating expenses	50,218	46,228	98,387	94,984
Interest expense	3,291	2,945	6,464	5,901
Total benefits, losses and expenses	299,444	289,208	571,087	558,676
Income before income taxes	6,813	2,228	30,659	20,064
Income tax expense (benefit)	896	(33)	4,587	2,485
Net income	$ 5,917	$ 2,261	$ 26,072	$ 17,579
Net income per share
Basic (in usd per share)	$ 0.14	$ 0.05	$ 0.63	$ 0.43
Diluted (in usd per share)	$ 0.14	$ 0.05	$ 0.63	$ 0.42
Weighted average number of shares and equivalent shares
Basic (in shares)	41,600	41,368	41,531	41,268
Diluted (in shares)	41,735	41,493	41,659	41,416
Net investment gains (losses)
Total other-than-temporary impairment losses on securities	$ (1,177)	$ (3,564)	$ (1,287)	$ (1,777)
Portion of losses recognized in other comprehensive income	0	0	0	(4,583)
Net other-than-temporary impairment losses on securities recognized in earnings	(1,177)	(3,564)	(1,287)	(6,360)
Sales and other, net	1,789	5,202	3,992	7,685
Change in fair value - equity securities	(1,156)	0	(6,342)	0
Change in fair value and gains (losses) realized on settlements - derivative instruments	1,279	434	2,718	505
Net investment gains (losses)	$ 735	$ 2,072	$ (919)	$ 1,830

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Comprehensive income
Net income	$ 5,917	$ 2,261	$ 26,072	$ 17,579
Other comprehensive income, net of tax:
Change in net unrealized investment gains (losses) on securities	(52,444)	45,239	(159,540)	67,772
Change in net funded status of benefit plans	0	0	0	0
Cumulative effect of change in accounting principle	0	0	(15,041)	0
Other comprehensive income (loss)	(52,444)	45,239	(174,581)	67,772
Total	$ (46,527)	$ 47,500	$ (148,509)	$ 85,351

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income, net of tax:	Treasury stock, at cost
Beginning balance at Dec. 31, 2016		$ 65	$ 453,479	$ 1,155,732	$ 163,921	$ (479,215)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised, 2018, 107,148 shares; 2017, 127,774 shares		0
Conversion of common stock units, 2018, 30,368 shares; 2017, 15,981 shares		0
Conversion of restricted stock units, 2018, 163,835 shares; 2017, 280,341 shares		0
Options exercised and conversion of common stock units and restricted stock units			1,909
Share-based compensation expense			3,929
Net income	$ 17,579			17,579
Dividends, 2018, $0.57 per share; 2017, $0.55 per share				(23,041)
Change in net unrealized investment gains on securities	67,772				67,772
Change in net funded status of benefit plans	0				0
Cumulative effect of change in accounting principle	0			0	0
Acquisition of shares, 2018, 2,161 shares; 2017, 0 shares						0
Ending balance at Jun. 30, 2017	1,362,130	65	459,317	1,150,270	231,693	(479,215)
Beginning balance at Mar. 31, 2017					186,454
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,261
Change in net unrealized investment gains on securities	45,239
Change in net funded status of benefit plans	0
Cumulative effect of change in accounting principle	0
Ending balance at Jun. 30, 2017	1,362,130	65	459,317	1,150,270	231,693	(479,215)
Beginning balance at Dec. 31, 2017	1,501,573	65	464,246	1,231,177	286,960	(480,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised, 2018, 107,148 shares; 2017, 127,774 shares		0
Conversion of common stock units, 2018, 30,368 shares; 2017, 15,981 shares		0
Conversion of restricted stock units, 2018, 163,835 shares; 2017, 280,341 shares		1
Options exercised and conversion of common stock units and restricted stock units			2,259
Share-based compensation expense			4,147
Net income	26,072			26,072
Dividends, 2018, $0.57 per share; 2017, $0.55 per share				(23,985)
Change in net unrealized investment gains on securities	(159,540)				(159,540)
Change in net funded status of benefit plans	0				0
Cumulative effect of change in accounting principle	(15,041)			15,041	(15,041)
Acquisition of shares, 2018, 2,161 shares; 2017, 0 shares						(86)
Ending balance at Jun. 30, 2018	1,350,441	66	470,652	1,248,305	112,379	(480,961)
Beginning balance at Mar. 31, 2018					164,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,917
Change in net unrealized investment gains on securities	(52,444)
Change in net funded status of benefit plans	0
Cumulative effect of change in accounting principle	0
Ending balance at Jun. 30, 2018	$ 1,350,441	$ 66	$ 470,652	$ 1,248,305	$ 112,379	$ (480,961)

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Common stock, par value (in usd per share)	$ 0.001		$ 0.001
Treasury stock (in shares)	24,672,932		24,721,372
Common stock
Common stock, par value (in usd per share)			$ 0.001	$ 0.001
Options exercised (in shares)	107,148	127,774
Conversion of common stock units (in shares)	30,368	15,981
Conversion of restricted stock units (in shares)	163,835	280,341
Retained earnings
Cash dividends (in usd per share)	$ 0.57	$ 0.55
Treasury stock, at cost
Treasury stock (in shares)	24,723,533	24,672,932	24,721,372	24,672,932
Treasury stock, acquisitions (in shares)	2,161	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows - operating activities
Premiums collected	$ 392,103	$ 392,715
Policyholder benefits paid	(272,769)	(274,256)
Policy acquisition and other operating expenses paid	(141,620)	(141,913)
Income taxes paid	(7,393)	(8,068)
Investment income collected	184,749	185,546
Interest expense paid	(6,190)	(5,738)
Other	2,429	6,167
Net cash provided by operating activities	151,309	154,453
Fixed maturity securities
Purchases	(551,984)	(723,354)
Sales	190,023	229,690
Maturities, paydowns, calls and redemptions	383,090	491,739
Equity securities
Purchases	(6,028)	(24,190)
Sales and repayments	5,783	18,196
Limited partnership interests
Purchases	(33,031)	(45,284)
Sales	9,457	6,699
Change in short-term and other investments, net	(109,711)	(41,528)
Net cash used in investing activities	(112,401)	(88,032)
Cash flows - financing activities
Dividends paid to shareholders	(23,320)	(23,041)
Acquisition of treasury stock	(86)	0
Proceeds from exercise of stock options	2,460	3,130
Withholding tax payments on RSUs tendered	(2,155)	(2,604)
Annuity contracts: variable, fixed and FHLB funding agreements
Deposits	199,074	234,133
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets	(218,694)	(200,845)
Transfer of Company 401(k) assets to a third-party provider	0	(77,898)
Life policy accounts
Deposits	3,163	2,240
Withdrawals and surrenders	(2,525)	(2,287)
Change in bank overdrafts	3,795	87
Net cash used in financing activities	(38,288)	(67,085)
Net increase (decrease) in cash	620	(664)
Cash at beginning of period	7,627	16,670
Cash at end of period	$ 8,247	$ 16,006

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements of Horace Mann Educators Corporation (HMEC; and together with its subsidiaries, the Company or Horace Mann) have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and with the rules and regulations of the Securities and Exchange Commission (SEC), specifically Regulation S-X and the instructions to Form 10-Q. Certain information and disclosures normally included in annual financial statements prepared in conformity with GAAP, but are not required for interim reporting purposes, have been omitted. The Company believes that these consolidated financial statements contain all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of June 30, 2018 , the consolidated results of operations and comprehensive income for the three and six month periods ended June 30, 2018 and 2017 and the consolidated changes in shareholders’ equity and cash flows for the six month periods ended June 30, 2018 and 2017 . The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities, (2) disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and (3) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The subsidiaries of HMEC market and underwrite personal lines of property and casualty insurance products (primarily personal lines of automobile and property insurance), retirement products (primarily tax-qualified annuities) and life insurance, primarily to K-12 teachers, administrators and other employees of public schools and their families. HMEC’s principal operating subsidiaries are Horace Mann Life Insurance Company, Horace Mann Insurance Company, Teachers Insurance Company, Horace Mann Property & Casualty Insurance Company and Horace Mann Lloyds. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . The results of operations for the three and six month period ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year. The Company has reclassified the presentation of certain prior period information to conform to the current presentation. Investment Contract and Life Policy Reserves This table summarizes the Company’s investment contract and life policy reserves. ($ in thousands) June 30, 2018 December 31, 2017 Investment contract reserves $ 4,498,302 $ 4,452,972 Life policy reserves 1,135,867 1,120,763 Total $ 5,634,169 $ 5,573,735 Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) (AOCI) represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, AOCI includes the after tax change in net unrealized investment gains and losses on securities and the after tax change in net funded status of defined benefit plans for the periods as shown in the Consolidated Statements of Changes in Shareholders’ Equity. The following tables reconcile these components. ($ in thousands) Net Unrealized Investment Gains and Losses on Securities (1)(2) Defined Benefit Plans (1) Total (1) Beginning balance, April 1, 2018 $ 178,040 $ (13,217 ) $ 164,823 Other comprehensive income (loss) before reclassifications (52,873 ) — (52,873 ) Amounts reclassified from accumulated other comprehensive income (loss) 429 — 429 Cumulative effect of change in accounting principle (3) — — — Net current period other comprehensive income (loss) (52,444 ) — (52,444 ) Ending balance, June 30, 2018 $ 125,596 $ (13,217 ) $ 112,379 Beginning balance, January 1, 2018 $ 300,177 $ (13,217 ) $ 286,960 Other comprehensive income (loss) before reclassifications (162,412 ) — (162,412 ) Amounts reclassified from accumulated other comprehensive income (loss) 2,872 — 2,872 Cumulative effect of change in accounting principle (3) (15,041 ) — (15,041 ) Net current period other comprehensive income (loss) (174,581 ) — (174,581 ) Ending balance, June 30, 2018 $ 125,596 $ (13,217 ) $ 112,379 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(544) thousand and $(3,636) thousand , are included in Net investment gains (losses) and the related income tax expenses, $(115) thousand and $(764) thousand , are included in Income tax expense in the Consolidated Statements of Operations for the three and six month periods ended June 30, 2018 , respectively. (3) The Company adopted guidance on January 1, 2018 that resulted in reclassifying $15,041 thousand of after tax net unrealized gains on equity securities from AOCI to Retained earnings. ($ in thousands) Net Unrealized Investment Gains and Losses on Securities (1)(2) Defined Benefit Plans (1) Total (1) Beginning balance, April 1, 2017 $ 198,271 $ (11,817 ) $ 186,454 Other comprehensive income (loss) before reclassifications 46,303 — 46,303 Amounts reclassified from accumulated other comprehensive income (loss) (1,064 ) — (1,064 ) Net current period other comprehensive income 45,239 — 45,239 Ending balance, June 30, 2017 $ 243,510 $ (11,817 ) $ 231,693 Beginning balance, January 1, 2017 $ 175,738 $ (11,817 ) $ 163,921 Other comprehensive income (loss) before reclassifications 68,633 — 68,633 Amounts reclassified from accumulated other comprehensive income (loss) (861 ) — (861 ) Net current period other comprehensive income 67,772 — 67,772 Ending balance, June 30, 2017 $ 243,510 $ (11,817 ) $ 231,693 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $1,638 thousand and $1,325 thousand , are included in Net investment gains (losses) and the related income tax expenses, $574 thousand and $464 thousand , are included in Income tax expense (benefit) in the Consolidated Statements of Operations for the three and six month periods ended June 30, 2017 , respectively. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in Note 2 -- Investments -- Net Unrealized Investment Gains and Losses on Securities. Adopted Accounting Standards Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued accounting guidance to provide a single comprehensive model in accounting for revenue arising from contracts with customers. The guidance applies to all contracts with customers; however, certain insurance contracts are specifically excluded from this updated guidance. The Company adopted the guidance on January 1, 2018, using the modified retrospective transition method. The guidance did not have an impact on the Company’s consolidated financial position, results of operations, cash flows, or disclosures. Recognition and Measurement of Financial Assets and Liabilities In January 2016, the FASB issued accounting guidance to improve certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. Among other things, the guidance revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The Company adopted the guidance on January 1, 2018 using the modified retrospective approach that resulted in reclassifying $15,041 thousand of after tax net unrealized gains on equity securities from AOCI to Retained earnings. The Company's Consolidated Statements of Operations were impacted as changes in fair value of equity securities are now being reported in Net investment gains and losses instead of reported in other comprehensive income (loss) (OCI). Statement of Cash Flows -- Classification In August 2016, the FASB issued guidance to reduce diversity in practice in the statement of cash flows between operating, investing and financing activities related to the classification of cash receipts and cash payments for eight specific issues. The FASB acknowledged that current GAAP either is unclear or does not include specific guidance on these eight cash flow classification issues: (1) debt prepayment or extinguishment costs; (2) settlement of zero-coupon bonds (pertains to issuers); (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims (pertains to claimants); (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions (pertains to transferors) and (8) separately identifiable cash flows and application of the predominance principle. The Company adopted the guidance on January 1, 2018 using a retrospective approach which had no impact to the prior year amounts reported in the Consolidated Statement of Cash Flows. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On February 14, 2018, the FASB issued accounting guidance that permits recognition of a reclassification adjustment between AOCI and Retained earnings for stranded tax amounts related to the reduced corporate tax rate enacted under the Tax Act. As permitted under its provisions, the Company early adopted the accounting guidance effective for the quarterly period that ended December 31, 2017 and elected to reclassify the stranded tax amounts. The impact from early adoption resulted in an increase to AOCI and a reduction to Retained earnings of approximately $47,900 thousand ; representing the stranded deferred tax liabilities of $50,034 thousand and $(2,134) thousand for Net unrealized investment gains and losses on securities and Defined benefit plans, respectively. Pending Accounting Standards Accounting for Leases In February 2016, the FASB issued accounting and disclosure guidance to improve financial reporting and comparability among organizations about leasing transactions. Under the new guidance, for leases with lease terms of more than 12 months, a lessee will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. Consistent with current accounting guidance, the recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or an operating lease. However, while current guidance requires only capital leases to be recognized on the balance sheet, the new guidance will require both operating and capital leases to be recognized on the balance sheet. This new guidance is effective for annual reporting periods beginning December 15, 2018, and interim reporting periods within those annual periods, with early adoption permitted. The Company will adopt this new guidance on January 1, 2019, and the Company expects to use the optional transition method, which allows the Company to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption (i.e., comparative periods presented in the consolidated financial statements will continue to be in conformity with current GAAP). While the Company is in the process of evaluating the impact of the guidance, it does not expect the guidance to have a material impact on its consolidated financial statements, except for recognizing lease assets and lease liabilities for its operating leases. The Company's lease obligations under various non-cancellable operating lease agreements amounted to approximately $8,416 thousand at June 30, 2018. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments, including reinsurance receivables, held by companies. The new guidance replaces the incurred loss impairment methodology and requires an organization to measure and recognize all current expected credit losses (CECL) for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will need to utilize forward-looking information to better inform their credit loss estimates. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Any credit losses related to available for sale debt securities will be recorded through an allowance for credit losses with this allowance having a limit equal to the amount by which fair value is below amortized cost. The guidance also requires enhanced qualitative and quantitative disclosures to provide additional information about the amounts recorded in the financial statements. For public business entities that are SEC filers, the guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those years, using a modified-retrospective approach. Early application is permitted for annual reporting periods, and interim periods within those years, beginning after December 15, 2018. Management is evaluating the impact this guidance will have on the results of operations and financial position of the Company. Simplifying the Test for Goodwill Impairment

Investments

Investments	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Investments	The Company’s investment portfolio includes free-standing derivative financial instruments (currently over the counter index call option contracts) to economically hedge risk associated with its fixed indexed annuity (FIA) and indexed universal life (IUL) products’ contingent liabilities. The Company’s FIA and IUL products include embedded derivative features that are discussed in Note 1 -- Summary of Significant Accounting Policies -- Investment Contract and Life Policy Reserves -- Reserves for Fixed Indexed Annuities and Indexed Universal Life Policies of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . The Company’s investment portfolio included no other free-standing derivative financial instruments (futures, forwards, swaps, option contracts or other financial instruments with similar characteristics), and there were no other embedded derivative features related to the Company’s investment or insurance products during the six month periods ended June 30, 2018 and 2017 . Fixed Maturity Securities The Company’s investment portfolio is comprised primarily of fixed maturity securities. The amortized cost, net unrealized investment gains and losses and fair values of all fixed maturity securities in the portfolio were as follows: ($ in thousands) Amortized Cost/Cost Unrealized Investment Gains Unrealized Investment Losses Fair Value June 30, 2018 (1) Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 704,330 $ 19,586 $ 16,592 $ 707,324 Other, including U.S. Treasury securities 790,687 15,444 23,908 782,223 Municipal bonds 1,696,693 141,937 11,119 1,827,511 Foreign government bonds 92,872 3,217 584 95,505 Corporate bonds 2,342,531 82,113 26,920 2,397,724 Other mortgage-backed securities 1,664,910 15,663 15,295 1,665,278 Totals $ 7,292,023 $ 277,960 $ 94,418 $ 7,475,565 December 31, 2017 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 669,297 $ 30,460 $ 3,032 $ 696,725 Other, including U.S. Treasury securities 714,613 26,311 5,516 735,408 Municipal bonds 1,711,581 184,107 2,435 1,893,253 Foreign government bonds 96,780 5,958 — 102,738 Corporate bonds 2,409,426 173,862 4,334 2,578,954 Other mortgage-backed securities 1,701,253 22,935 7,191 1,716,997 Totals $ 7,302,950 $ 443,633 $ 22,508 $ 7,724,075 Equity securities (3) $ 116,320 $ 19,425 $ 279 $ 135,466 ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and are excluded from the table above as of June 30, 2018. (2) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $384,676 thousand and $361,955 thousand ; Federal Home Loan Mortgage Corporation (FHLMC) of $395,043 thousand and $400,001 thousand ; and Government National Mortgage Association (GNMA) of $97,103 thousand and $104,168 thousand as of June 30, 2018 and December 31, 2017 , respectively. (3) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds. The following table presents the fair value and gross unrealized losses of securities in an unrealized loss position at June 30, 2018 and December 31, 2017 , respectively. The Company views the decrease in value of all of the securities with unrealized losses at June 30, 2018 -- which was driven largely by changes in interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition -- as temporary. For fixed maturity securities, management does not have the intent to sell the securities and it is not more likely than not the Company will be required to sell the securities before the anticipated recovery of the amortized cost bases, and management expects to recover the entire amortized cost bases of the fixed maturity securities. Therefore, it was determined that the unrealized losses on the securities presented in the table below were not other than temporarily impaired as of June 30, 2018 . ($ in thousands) 12 Months or Less More than 12 Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses June 30, 2018 (1) Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 354,474 $ 12,787 $ 40,302 $ 3,805 $ 394,776 $ 16,592 Other 413,744 14,379 120,081 9,529 533,825 23,908 Municipal bonds 269,872 6,713 75,715 4,406 345,587 11,119 Foreign government bonds 19,912 584 — — 19,912 584 Corporate bonds 833,370 23,370 36,587 3,550 869,957 26,920 Other mortgage-backed securities 888,965 10,400 158,524 4,895 1,047,489 15,295 Total $ 2,780,337 $ 68,233 $ 431,209 $ 26,185 $ 3,211,546 $ 94,418 Number of positions with a gross unrealized loss 1,091 160 1,251 Fair value as a percentage of total fixed maturity securities fair value 36.6 % 5.7 % 42.3 % December 31, 2017 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 134,032 $ 1,053 $ 40,606 $ 1,979 $ 174,638 $ 3,032 Other 168,634 1,849 122,753 3,667 291,387 5,516 Municipal bonds 29,437 100 79,140 2,335 108,577 2,435 Foreign government bonds — — — — — — Corporate bonds 115,113 2,701 36,081 1,633 151,194 4,334 Other mortgage-backed securities 457,166 2,791 168,972 4,400 626,138 7,191 Total fixed maturity securities 904,382 8,494 447,552 14,014 1,351,934 22,508 Equity securities (2) 6,027 249 1,277 30 7,304 279 Combined totals $ 910,409 $ 8,743 $ 448,829 $ 14,044 $ 1,359,238 $ 22,787 Number of positions with a gross unrealized loss 354 158 512 Fair value as a percentage of total fixed maturity and equity securities fair value 11.6 % 5.7 % 17.3 % ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and are excluded from the table above as of June 30, 2018. (2) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds. Fixed maturity securities with an investment grade rating represented 96.6% of the gross unrealized losses as of June 30, 2018 . With respect to fixed maturity securities involving securitized financial assets, the underlying collateral cash flows were stress tested to determine there was no adverse change in the present value of cash flows below the amortized cost basis. Credit Losses The following table summarizes the cumulative amounts related to the Company’s credit loss component of other-than-temporary impairment (OTTI) losses on fixed maturity securities held as of June 30, 2018 and 2017 that the Company did not intend to sell as of those dates, and it was not more likely than not that the Company would be required to sell the securities before the anticipated recovery of the amortized cost bases, for which the non-credit portions of OTTI losses were recognized in OCI: ($ in thousands) Six Months Ended June 30, 2018 2017 Cumulative credit loss (1) Beginning of period $ 3,825 $ 13,703 New credit losses — — Increases to previously recognized credit losses 246 1,910 Gains (losses) related to securities sold or paid down during the period — (2 ) End of period $ 4,071 $ 15,611 ________________ (1) The cumulative credit loss amounts exclude OTTI losses on securities held as of the periods indicated that the Company intended to sell or it was more likely than not that the Company would be required to sell the security before the recovery of the amortized cost basis. Maturities/Sales of Fixed Maturity Securities The following table presents the distribution of the Company’s fixed maturity securities portfolio by estimated expected maturity. Estimated expected maturities differ from contractual maturities, reflecting assumptions regarding borrowers’ utilization of the right to call or prepay obligations with or without call or prepayment penalties. For structured securities, including mortgage-backed securities and other asset-backed securities, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in thousands) Percent of Total Fair Value June 30, 2018 June 30, 2018 December 31, 2017 Fair Value Amortized Cost Estimated expected maturity: Due in 1 year or less 4.2 % 3.2 % $ 312,584 $ 308,703 Due after 1 year through 5 years 24.5 26.7 1,829,489 1,794,597 Due after 5 years through 10 years 32.4 32.6 2,423,204 2,405,751 Due after 10 years through 20 years 25.2 24.2 1,885,539 1,828,415 Due after 20 years 13.7 13.3 1,024,749 954,557 Total 100.0 % 100.0 % $ 7,475,565 $ 7,292,023 Average option-adjusted duration, in years 6.0 5.9 Sales of Fixed Maturity and Equity Securities Proceeds received from sales of fixed maturity and equity securities, each determined using the specific identification method, and gross gains and gross losses realized as a result of those sales for each period were: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Fixed maturity securities Proceeds received $ 100,129 $ 118,818 $ 190,023 $ 229,690 Gross gains realized 2,352 4,080 4,022 6,569 Gross losses realized (1,584 ) (496 ) (1,637 ) (1,377 ) Equity securities Proceeds received $ 3,735 $ 11,507 $ 5,783 $ 16,996 Gross gains realized 977 1,702 1,593 2,750 Gross losses realized (147 ) (236 ) (181 ) (428 ) Net Investment Gains (Losses) The following table reconciles the net investment gains and losses (pretax) by transaction type: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Impairment write-downs $ — $ — $ — $ (1,777 ) Change in intent write-downs (1,177 ) (3,564 ) (1,287 ) (4,583 ) Net OTTI losses recognized in earnings (1,177 ) (3,564 ) (1,287 ) — (6,360 ) Sales and other, net 1,789 5,202 3,992 7,685 Change in fair value - equity securities (1) (1,156 ) — (6,342 ) — Change in fair value and gains (losses) realized on settlements - derivative instruments 1,279 434 2,718 505 Net investment gains (losses) $ 735 $ 2,072 $ (919 ) — $ 1,830 ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, equity securities are reported at fair value with change in fair value recognized in Net investment gains (losses) and are no longer included in impairment write-downs or change in intent write-downs. Net Unrealized Investment Gains and Losses on Securities The following table reconciles the net unrealized investment gains and losses, net of tax, included in AOCI, before the impact of deferred policy acquisition costs (DAC): ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net unrealized investment gains and losses on securities, net of tax Beginning of period $ 206,293 $ 228,337 $ 286,176 $ 202,941 Change in net unrealized investment gains (61,724 ) 54,193 (129,009 ) 79,386 Reclassification of net investment (gains) losses to net income 429 (1,065 ) 2,872 (862 ) Reclassification of unrealized gains on equity securities, net of tax, to Retained earnings (1) — — (15,041 ) — End of period $ 144,998 $ 281,465 $ 144,998 $ 281,465 ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and the related unrealized gains were reclassified from AOCI to Retained earnings. Offsetting of Assets and Liabilities The Company’s derivative instruments (call options) are subject to enforceable master netting arrangements. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event minimum thresholds have been reached. The following table presents the instruments that were subject to a master netting arrangement for the Company. ($ in thousands) Gross Amounts Offset in the Net Amounts of Assets/ Liabilities Presented in the Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts Consolidated Balance Sheets Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount June 30, 2018 Asset derivatives: Free-standing derivatives $ 9,376 $ — $ 9,376 $ — $ 10,484 $ (1,108 ) December 31, 2017 Asset derivatives: Free-standing derivatives $ 15,550 $ — $ 15,550 $ — $ 15,584 $ (34 ) Deposits At June 30, 2018 and December 31, 2017 , fixed maturity securities with a fair value of $17,782 thousand and $17,985 thousand , respectively, were on deposit with governmental agencies as required by law in various states in which the insurance subsidiaries of HMEC conduct business. In addition, at June 30, 2018 and December 31, 2017 , fixed maturity securities with a fair value of $625,165 thousand and $686,790 thousand , respectively, were on deposit with the Federal Home Loan Bank of Chicago (FHLB) as collateral for amounts subject to funding agreements, advances and borrowings which were equal to $625,000 thousand

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The Company is required under GAAP to disclose estimated fair values for certain financial and nonfinancial assets and liabilities. Fair values of the Company’s insurance contracts other than annuity contracts are not required to be disclosed. However, the estimated fair values of liabilities under all insurance contracts are taken into consideration in the Company’s overall management of interest rate risk through the matching of investment maturities with amounts due under insurance contracts. Information regarding the three-level hierarchy presented below and the valuation methodologies utilized by the Company to estimate fair values at a point in time is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , specifically in Note 3 -- Fair Value of Financial Instruments. Financial Instruments Measured and Carried at Fair Value The following table presents the Company’s fair value hierarchy for those assets and liabilities measured and carried at fair value on a recurring basis. At June 30, 2018 , Level 3 invested assets comprised 3.3% of the Company’s total investment portfolio at fair value. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 June 30, 2018 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 707,324 $ 707,324 $ — $ 703,543 $ 3,781 Other, including U.S. Treasury securities 782,223 782,223 13,201 769,022 — Municipal bonds 1,827,511 1,827,511 — 1,777,590 49,921 Foreign government bonds 95,505 95,505 — 95,505 — Corporate bonds 2,397,724 2,397,724 13,397 2,291,664 92,663 Other mortgage-backed securities 1,665,278 1,665,278 — 1,539,998 125,280 Total fixed maturity securities 7,475,565 7,475,565 26,598 7,177,322 271,645 Equity securities 130,780 130,780 80,236 — 50,538 — 6 Short-term investments 176,497 176,497 176,497 — — Other investments 21,876 21,876 — 21,876 — Totals $ 7,804,718 $ 7,804,718 $ 283,331 $ 7,249,736 $ 271,651 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 486 $ 486 $ — $ 486 $ — Other policyholder funds, embedded derivatives 77,788 77,788 — — 77,788 December 31, 2017 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 696,725 $ 696,725 $ — $ 693,375 $ 3,350 Other, including U.S. Treasury securities 735,408 735,408 13,393 722,015 — Municipal bonds 1,893,253 1,893,253 — 1,843,925 49,328 Foreign government bonds 102,738 102,738 — 102,738 — Corporate bonds 2,578,954 2,578,954 14,345 2,491,630 72,979 Other mortgage-backed securities 1,716,997 1,716,997 — 1,612,403 104,594 Total fixed maturity securities 7,724,075 7,724,075 27,738 7,466,086 230,251 Equity securities 135,466 135,466 82,208 53,252 6 Short-term investments 62,593 62,593 62,593 — — Other investments 28,050 28,050 — 28,050 — Totals $ 7,950,184 $ 7,950,184 $ 172,539 $ 7,547,388 $ 230,257 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 594 $ 594 $ — $ 594 $ — Other policyholder funds, embedded derivatives 80,733 80,733 — — 80,733 During the six month period ended June 30, 2018 , there were no transfers between Level 1 and Level 2. During the six month period ended June 30, 2017 , an equity security was transferred into Level 1 from Level 2 as a result of increased liquidity in the market and a sustained increase in the market activity for this asset. The following table presents reconciliations for the periods indicated for all Level 3 assets and liabilities measured at fair value on a recurring basis. ($ in thousands) Financial Assets Financial Liabilities(1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, April, 1, 2018 $ 49,748 $ 78,780 $ 115,334 $ 243,862 $ 6 $ — $ 243,868 $ 78,486 Transfers into Level 3 (3) — 29,709 18,322 48,031 — — 48,031 — Transfers out of Level 3 (3) — (11,279 ) (4,230 ) (15,509 ) — — (15,509 ) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — (246 ) — (246 ) — — (246 ) — Net (gains) losses included in net income related to financial liabilities — — — — — — — (1,291 ) Net unrealized investment gains (losses) included in OCI 397 (700 ) 1,659 1,356 — — 1,356 — Purchases — — — — — — — — Issuances — — — — — — — 2,107 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (224 ) (3,601 ) (2,024 ) (5,849 ) — — (5,849 ) (1,514 ) Ending balance, June 30, 2018 $ 49,921 $ 92,663 $ 129,061 $ 271,645 $ 6 $ — $ 271,651 $ 77,788 Beginning balance, January 1, 2018 $ 49,328 $ 72,979 $ 107,944 $ 230,251 $ 6 $ — $ 230,257 $ 80,733 Transfers into Level 3 (3) — 40,487 33,144 73,631 — — 73,631 — Transfers out of Level 3 (3) — (11,279 ) (4,230 ) (15,509 ) — — (15,509 ) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — (246 ) — (246 ) 3 — (243 ) — Net (gains) losses included in net income related to financial liabilities — — — — — — — (3,513 ) Net unrealized investment gains (losses) included in OCI 840 (1,587 ) 637 (110 ) — — (110 ) — Purchases — — — — — — — — Issuances — — — — — — — 3,439 Sales — — — — (3 ) — (3 ) — Settlements — — — — — — — — Paydowns, maturities and distributions (247 ) (7,691 ) (8,434 ) (16,372 ) — — (16,372 ) (2,871 ) Ending balance, June 30, 2018 $ 49,921 $ 92,663 $ 129,061 $ 271,645 $ 6 $ — $ 271,651 $ 77,788 ________________ (1) Represents embedded derivatives, all related to FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and six month periods ended June 30, 2018 were attributable to changes in the availability of observable market information for individual fixed maturity securities and short-term investments. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined. ($ in thousands) Financial Assets Financial Liabilities(1) Municipal Bonds Corporate Bonds Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, April 1, 2017 $ 53,462 $ 82,495 $ 112,794 $ 248,751 $ 6 $ — $ 248,757 $ 64,261 Transfers into Level 3 (3) — 2,001 9,482 11,483 — — 11,483 — Transfers out of Level 3 (3) (5,557 ) (5,853 ) — (11,410 ) — — (11,410 ) — Total gains or losses Net realized investment gains (losses) included in net income related to financial assets — — (1,714 ) (1,714 ) — — (1,714 ) — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 1,238 Net unrealized investment gains (losses) included in other comprehensive income 1,287 359 3,093 4,739 — — 4,739 — Purchases — — — — — — — — Issuances — — — — — — — 3,397 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (69 ) (1,950 ) (3,331 ) (5,350 ) — — (5,350 ) (901 ) Ending balance, June 30, 2017 $ 49,123 $ 77,052 $ 120,324 $ 246,499 $ 6 $ — $ 246,505 $ 67,995 Beginning balance, January 1, 2017 $ 46,497 $ 60,191 $ 104,659 $ 211,347 $ 6 $ 751 $ 212,104 $ 59,393 Transfers into Level 3 (3) 5,214 31,919 24,521 61,654 — — 61,654 — Transfers out of Level 3 (3) (5,557 ) (11,963 ) — (17,520 ) — (751 ) (18,271 ) — Total gains or losses Net realized investment gains (losses) included in net income related to financial assets — — (1,714 ) (1,714 ) — — (1,714 ) — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 3,546 Net unrealized investment gains (losses) included in other comprehensive income 3,158 455 2,322 5,935 — — 5,935 — Purchases — — — — — — — — Issuances — — — — — — — 6,786 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (189 ) (3,550 ) (9,464 ) (13,203 ) — — (13,203 ) (1,730 ) Ending balance, June 30, 2017 $ 49,123 $ 77,052 $ 120,324 $ 246,499 $ 6 $ — $ 246,505 $ 67,995 ________________ (1) Represents embedded derivatives, all related to FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and six month periods ended June 30, 2017 were attributable to changes in the availability of observable market information for individual fixed maturity securities and short-term investments. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined. For the six month period ended June 30, 2018 , the Company realized a net loss of $243 thousand on two Level 3 securities. For the six month period ended June 30, 2017 , the Company impaired two Level 3 securities for a $1,714 thousand realized loss. For the three and six month periods ended June 30, 2018 , net investment gains of $1,291 thousand and $3,513 thousand , respectively, were included in earnings that were attributable to the changes in the fair value of Level 3 liabilities (embedded derivatives) still held; for the three and six months ended June 30, 2017, the respective loss amounts were $1,238 thousand and $3,546 thousand . The valuation techniques and significant unobservable inputs used in the fair value measurement for financial assets and liabilities classified as Level 3 are subject to the control processes as described in Note 3 -- Fair Value of Financial Instruments -- Investments in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Generally, valuation techniques for fixed maturity securities include spread pricing, matrix pricing and discounted cash flow methodologies; include inputs such as quoted prices for identical or similar securities that are less liquid; and are based on lower levels of trading activity than securities classified as Level 2. The valuation techniques and significant unobservable inputs used in the fair value measurement for equity securities classified as Level 3 use similar valuation techniques and significant unobservable inputs as those used for fixed maturity securities. The sensitivity of the estimated fair values to changes in the significant unobservable inputs for fixed maturity and equity securities included in Level 3 generally relate to interest rate spreads, illiquidity premiums and default rates. Significant spread widening in isolation will adversely impact the overall valuation, while significant spread tightening will lead to substantial valuation increases. Significant increases (decreases) in illiquidity premiums in isolation will result in substantially lower (higher) valuations. Significant increases (decreases) in expected default rates in isolation will result in substantially lower (higher) valuations. Financial Instruments Not Carried at Fair Value; Disclosure Required The Company has various other financial assets and financial liabilities used in the normal course of business that are not carried at fair value, but for which fair value disclosure is required. The following table presents the carrying value, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 June 30, 2018 Financial Assets Investments Other investments $ 154,327 $ 159,019 $ — $ — $ 159,019 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,498,302 4,399,614 — — 4,399,614 Investment contract and life policy reserves, account values on life contracts 84,163 89,761 — — 89,761 Other policyholder funds 640,722 640,722 — 575,928 64,794 Long-term debt 297,603 302,695 — 302,695 — December 31, 2017 Financial Assets Investments Other investments $ 154,898 $ 159,575 $ — $ — $ 159,575 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,452,972 4,366,334 — — 4,366,334 Investment contract and life policy reserves, 82,911 88,620 — — 88,620 Other policyholder funds 643,528 643,528 — 575,622 67,906 Long-term debt 297,469 311,315 — 311,315 —

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	The Company offers FIA products, which are deferred fixed annuities that guarantee the return of principal to the contractholder and credit interest based on a percentage of the gain in a specified market index. The Company also offers IUL products which credit interest based on a percentage of the gain in a specified market index. When deposits are received for FIA and IUL contracts, a portion is used to purchase derivatives consisting of call options on the applicable market indices to fund the index credits due to FIA and IUL policyholders. For the Company, substantially all of such call options are one-year options purchased to match the funding requirements of the underlying contracts. The call options are carried at fair value with changes in fair value included in Net investment gains (losses), a component of Revenues, in the Consolidated Statements of Operations. The change in fair value of derivatives includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open positions. Call options are not purchased to fund the index liabilities which may arise after the next deposit anniversary date. On the respective anniversary dates of the indexed deposits, the index used to compute the annual index credit is reset and new one-year call options are purchased to fund the next annual index credit. The cost of these purchases is managed through the terms of the FIA and IUL contracts, which permit changes to index return caps, participation rates and/or asset fees, subject to guaranteed minimums on each contract’s anniversary date. By adjusting the index return caps, participation rates or asset fees, crediting rates generally can be managed except in cases where the contractual features would prevent further modifications. The future annual index credits on FIA contracts are treated as a "series of embedded derivatives" over the expected life of the applicable contract with a corresponding reserve recorded. For IUL, the embedded derivative represents a single year liability for the index return. The Company carries all derivative instruments at fair value in the Consolidated Balance Sheets. The Company elected to not use hedge accounting for derivative transactions related to the FIA and IUL products. As a result, the Company recognizes the purchased call options and the embedded derivatives related to the provision of a contingent return at fair value, with changes in the fair value of the derivatives recognized immediately as Net investment gains (losses) in the Consolidated Statements of Operations. The fair values of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, are presented in the Consolidated Balance Sheets as follows: ($ in thousands) June 30, 2018 December 31, 2017 Assets Derivative instruments, included in Short-term and other investments $ 9,376 $ 15,550 Liabilities FIA - embedded derivatives, included in Other policyholder funds $ 77,788 $ 80,733 IUL - embedded derivatives, included in Investment contract and life policy reserves 486 594 In general, the change in the fair value of the embedded derivatives related to FIA contracts will not correspond to the change in fair value of the purchased call options because the purchased call options are one-year options while the options valued in the embedded derivatives represent the rights of the policyholder to receive index credits over the entire period the FIA contracts are expected to be in force, which typically exceeds 10 years. The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Change in fair value of derivatives (1): Revenues Net investment gains (losses) $ (2 ) $ 1,729 $ (851 ) $ 4,166 Change in fair value of embedded derivatives: Revenues Net investment gains (losses) $ 1,281 $ (1,295 ) $ 3,569 $ (3,661 ) ________________ (1) Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options. The Company’s strategy attempts to mitigate potential risk of loss under these agreements through a regular monitoring process, which evaluates the program’s effectiveness. The Company is exposed to risk of loss in the event of nonperformance by the counterparties and, accordingly, option contracts are purchased from multiple counterparties, which are evaluated for creditworthiness prior to purchase of the contracts. All of these options have been purchased from nationally recognized financial institutions with a Standard and Poor’s Financial Services LLC (S&P) and/or Moody's Investors Service (Moody's) long-term credit rating of "BBB+" or higher at the time of purchase and the maximum credit exposure to any single counterparty is subject to concentration limits. The Company also obtains credit support agreements that allow it to request the counterparty to provide collateral when the fair value of the exposure to the counterparty exceeds specified amounts. The notional amount and fair value of call options by counterparty and each counterparty’s long-term credit ratings were as follows: ($ in thousands) June 30, 2018 December 31, 2017 Credit Rating Notional Fair Notional Fair Counterparty S&P Moody's Amount Value Amount Value Bank of America, N.A. A+ Aa3 $ 105,100 $ 5,195 $ 85,100 $ 6,320 Barclays Bank PLC A A2 39,100 783 48,900 1,828 Citigroup Inc. BBB+ — — — — Credit Suisse International A A1 11,000 324 21,100 1,444 Societe Generale A 103,400 3,074 91,700 5,958 Total $ 258,600 $ 9,376 $ 246,800 $ 15,550 As of June 30, 2018 and December 31, 2017 , the Company held $10,484 thousand and $15,584 thousand , respectively, of cash received from counterparties for derivative collateral, which is included in Other liabilities on the Consolidated Balance Sheets. This derivative collateral limits the Company’s maximum amount of economic loss due to credit risk that would be incurred if parties to the call options failed completely to perform according to the terms of the contracts to $250 thousand

Property and Casualty Unpaid Cl

Property and Casualty Unpaid Claims and Claim Expenses	6 Months Ended
	Jun. 30, 2018
Insurance Loss Reserves [Abstract]
Property and Casualty Unpaid Claims and Claim Expenses	The following table is a summary reconciliation of the beginning and ending Property and Casualty unpaid claims and claim expense reserves for the periods indicated. The table presents reserves on both gross and net (after reinsurance) bases. The total net Property and Casualty insurance claims and claim expense incurred amounts are reflected in the Consolidated Statements of Operations. The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets. ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Property and Casualty Beginning gross reserves (1) $ 331,255 $ 316,173 $ 319,182 $ 307,757 Less: reinsurance recoverables 62,917 61,804 57,409 61,199 Net reserves, beginning of period (2) 268,338 254,369 261,773 246,558 Incurred claims and claim expenses: Claims occurring in the current period 147,005 148,348 267,993 271,552 Decrease in estimated reserves for claims occurring in prior periods (3) — (600 ) (300 ) (1,600 ) Total claims and claim expenses incurred (4) 147,005 147,748 267,693 269,952 Claims and claim expense payments for claims occurring during: Current period 80,403 95,645 127,451 148,025 Prior periods 45,006 35,538 112,081 97,551 Total claims and claim expense payments 125,409 131,183 239,532 245,576 Net reserves, end of period (2) 289,934 270,934 289,934 270,934 Plus: reinsurance recoverables 62,883 58,897 62,883 58,897 Ending gross reserves (1) $ 352,817 $ 329,831 $ 352,817 $ 329,831 ________________ (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life and Retirement of $27,016 thousand and $22,682 thousand as of June 30, 2018 and 2017 , respectively, in addition to Property and Casualty reserves. (2) Reserves net of anticipated reinsurance recoverables. (3) Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs. (4) Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for Life and Retirement of $21,273 thousand and $44,147 thousand for the three and six month periods ended June 30, 2018 , respectively, in addition to Property and Casualty amounts. Benefits, claims and settlement expenses for Life and Retirement were $18,131 thousand and $40,023 thousand for the three and six month periods ended June 30, 2017 , respectively Net favorable development of total reserves for Property and Casualty claims occurring in prior years was $300 thousand and $1,600 thousand for the six month periods ended June 30, 2018 and 2017 , respectively. The favorable development for both of the six month periods ended June 30, 2018 and 2017

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Indebtedness outstanding was as follows: ($ in thousands) June 30, 2018 December 31, 2017 Short-term debt: Bank Credit Facility, expires June 27, 2023 $ — $ — Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 thousand less unaccrued discount of $518 and $547 thousand (4.5% imputed rate) and unamortized debt issuance costs of $1,879 thousand and $1,984 thousand 247,603 247,469 Federal Home Loan Bank borrowing 50,000 50,000 Total $ 297,603 $ 297,469 The Credit Agreement with certain financial institutions (Bank Credit Facility), 4.50% Senior Notes due 2025 (Senior Notes due 2025) and FHLB borrowing are described in Notes to Consolidated Financial Statements -- Note 7 -- Debt of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Credit Agreement with Financial Institutions (Bank Credit Facility ) Effective June 27, 2018, the Bank Credit Facility was amended and restated to extend the commitment termination date to June 27, 2023 from the previous termination date of July 30, 2019. The interest rate spread relative to Eurodollar base rates and the financial covenants within the agreement were not changed. The Bank Credit Facility is by and between HMEC, certain financial institutions named therein and JPMorgan Chase Bank, N.A., as administrative agent, and provides for unsecured borrowings of up to $150 million . Interest accrues at varying spreads relative to prime or Eurodollar base rates and is payable monthly or quarterly depending on the applicable base rate (Eurodollar base rate plus 1.15% ). The unused portion of the Bank Credit Facility is subject to a variable commitment fee, which was 0.15%

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2018
Insurance [Abstract]
Reinsurance	The Company recognizes the cost of reinsurance premiums over the contract periods for such premiums in proportion to the insurance protection provided. Amounts recoverable from reinsurers for unpaid claims and claim settlement expenses, including estimated amounts for unsettled claims, claims incurred but not yet reported and policy benefits, are estimated in a manner consistent with the insurance liability associated with the policy. The effects of reinsurance on premiums written and contract deposits; premiums and contract charges earned; and benefits, claims and settlement expenses were as follows: ($ in thousands) Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Three months ended June 30, 2018 Premiums written and contract deposits (1) $ 305,864 $ 5,483 $ 1,341 $ 301,722 Premiums and contract charges earned 209,892 5,505 1,223 205,610 Benefits, claims and settlement expenses 170,459 3,330 1,149 168,278 Three months ended June 30, 2017 Premiums written and contract deposits (1) $ 316,123 $ 5,643 $ 1,134 $ 311,614 Premiums and contract charges earned 200,351 5,665 1,032 195,718 Benefits, claims and settlement expenses 168,218 3,185 846 165,879 Six months ended June 30, 2018 Premiums written and contract deposits (1) $ 594,680 $ 10,997 $ 2,047 $ 585,730 Premiums and contract charges earned 417,629 11,033 2,012 408,608 Benefits, claims and settlement expenses 322,427 12,344 1,757 311,840 Six months ended June 30, 2017 Premiums written and contract deposits (1) $ 617,635 $ 11,153 $ 1,864 $ 608,346 Premiums and contract charges earned 400,806 11,199 1,833 391,440 Benefits, claims and settlement expenses 315,489 7,068 1,554 309,975 ________________ (1)

Commitments

Commitments	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments	Investment Commitments From time to time, the Company has outstanding commitments to purchase investments and/or commitments to lend funds under bridge loans. Unfunded commitments to purchase investments were $166,740 thousand and $106,381 thousand at June 30, 2018 and December 31, 2017

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	The Company conducts and manages its business through four segments. The three operating segments, representing the major lines of insurance business, are: Property and Casualty, primarily personal lines automobile and property insurance products; Retirement, primarily tax-qualified fixed and variable annuities; and Life, life insurance. The Company does not allocate the impact of corporate-level transactions to these operating segments, consistent with the basis for management’s evaluation of the results of those segments, but classifies those items in the fourth segment, Corporate and Other. In addition to ongoing transactions such as corporate debt service, net investment gains and losses and certain public company expenses, such items also have included corporate debt retirement costs, when applicable. Summarized financial information for these segments is as follows: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Insurance premiums and contract charges earned Property and Casualty $ 167,333 $ 160,460 $ 332,791 $ 318,778 Retirement 7,825 6,759 15,893 13,360 Life 30,452 28,499 59,924 59,302 Total $ 205,610 $ 195,718 $ 408,608 $ 391,440 Net investment income Property and Casualty $ 10,300 $ 8,113 $ 19,816 $ 17,290 Retirement 67,787 65,139 131,956 128,581 Life 19,166 18,928 37,506 37,216 Corporate and Other 42 18 78 30 Intersegment eliminations (194 ) (204 ) (391 ) (412 ) Total $ 97,101 $ 91,994 $ 188,965 $ 182,705 Net income (loss) Property and Casualty $ (10,896 ) $ (13,956 ) $ (1,174 ) $ (11,221 ) Retirement 14,141 11,800 25,562 23,330 Life 5,879 5,610 9,666 9,495 Corporate and Other (3,207 ) (1,193 ) (7,982 ) (4,025 ) Total $ 5,917 $ 2,261 $ 26,072 $ 17,579 ($ in thousands) June 30, 2018 December 31, 2017 Assets Property and Casualty $ 1,227,650 $ 1,217,394 Retirement 8,033,572 8,063,912 Life 1,786,525 1,815,732 Corporate and Other 141,615 143,784 Intersegment eliminations (33,148 ) (42,482 ) Total $ 11,156,214 $ 11,198,340

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	On December 22, 2017, comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the Tax Act) was enacted by the U.S. government. The Tax Act is generally effective January 1, 2018, and among other changes, reduced the federal corporate income tax rate from 35% to 21%, eliminated the corporate Alternative Minimum Tax, modified numerous insurance-specific provisions, and further limited deductions for executive compensation. The Tax Act reduced the Company’s effective tax rate by 9.2% for the six month period ended June 30, 2018 . The Company recorded provisional amounts in its December 31, 2017 and June 30, 2018 Consolidated Financial Statements related to partnership investments and discounted loss reserves. Reasonable estimates of the tax impacts of these provisional items were reflected in the Company’s results of operations; however, as of June 30, 2018

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements of Horace Mann Educators Corporation (HMEC; and together with its subsidiaries, the Company or Horace Mann) have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and with the rules and regulations of the Securities and Exchange Commission (SEC), specifically Regulation S-X and the instructions to Form 10-Q. Certain information and disclosures normally included in annual financial statements prepared in conformity with GAAP, but are not required for interim reporting purposes, have been omitted. The Company believes that these consolidated financial statements contain all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of June 30, 2018 , the consolidated results of operations and comprehensive income for the three and six month periods ended June 30, 2018 and 2017 and the consolidated changes in shareholders’ equity and cash flows for the six month periods ended June 30, 2018 and 2017 . The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities, (2) disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and (3) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The subsidiaries of HMEC market and underwrite personal lines of property and casualty insurance products (primarily personal lines of automobile and property insurance), retirement products (primarily tax-qualified annuities) and life insurance, primarily to K-12 teachers, administrators and other employees of public schools and their families. HMEC’s principal operating subsidiaries are Horace Mann Life Insurance Company, Horace Mann Insurance Company, Teachers Insurance Company, Horace Mann Property & Casualty Insurance Company and Horace Mann Lloyds. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . The results of operations for the three and six month period ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year. The Company has reclassified the presentation of certain prior period information to conform to the current presentation.
Accumulated Other Comprehensive Income (Loss)	Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in Note 2 -- Investments -- Net Unrealized Investment Gains and Losses on Securities.Accumulated Other Comprehensive Income (Loss)
Adopted and Pending Accounting Standards	Adopted Accounting Standards Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued accounting guidance to provide a single comprehensive model in accounting for revenue arising from contracts with customers. The guidance applies to all contracts with customers; however, certain insurance contracts are specifically excluded from this updated guidance. The Company adopted the guidance on January 1, 2018, using the modified retrospective transition method. The guidance did not have an impact on the Company’s consolidated financial position, results of operations, cash flows, or disclosures. Recognition and Measurement of Financial Assets and Liabilities In January 2016, the FASB issued accounting guidance to improve certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. Among other things, the guidance revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The Company adopted the guidance on January 1, 2018 using the modified retrospective approach that resulted in reclassifying $15,041 thousand of after tax net unrealized gains on equity securities from AOCI to Retained earnings. The Company's Consolidated Statements of Operations were impacted as changes in fair value of equity securities are now being reported in Net investment gains and losses instead of reported in other comprehensive income (loss) (OCI). Statement of Cash Flows -- Classification In August 2016, the FASB issued guidance to reduce diversity in practice in the statement of cash flows between operating, investing and financing activities related to the classification of cash receipts and cash payments for eight specific issues. The FASB acknowledged that current GAAP either is unclear or does not include specific guidance on these eight cash flow classification issues: (1) debt prepayment or extinguishment costs; (2) settlement of zero-coupon bonds (pertains to issuers); (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims (pertains to claimants); (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions (pertains to transferors) and (8) separately identifiable cash flows and application of the predominance principle. The Company adopted the guidance on January 1, 2018 using a retrospective approach which had no impact to the prior year amounts reported in the Consolidated Statement of Cash Flows. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On February 14, 2018, the FASB issued accounting guidance that permits recognition of a reclassification adjustment between AOCI and Retained earnings for stranded tax amounts related to the reduced corporate tax rate enacted under the Tax Act. As permitted under its provisions, the Company early adopted the accounting guidance effective for the quarterly period that ended December 31, 2017 and elected to reclassify the stranded tax amounts. The impact from early adoption resulted in an increase to AOCI and a reduction to Retained earnings of approximately $47,900 thousand ; representing the stranded deferred tax liabilities of $50,034 thousand and $(2,134) thousand for Net unrealized investment gains and losses on securities and Defined benefit plans, respectively. Pending Accounting Standards Accounting for Leases In February 2016, the FASB issued accounting and disclosure guidance to improve financial reporting and comparability among organizations about leasing transactions. Under the new guidance, for leases with lease terms of more than 12 months, a lessee will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. Consistent with current accounting guidance, the recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or an operating lease. However, while current guidance requires only capital leases to be recognized on the balance sheet, the new guidance will require both operating and capital leases to be recognized on the balance sheet. This new guidance is effective for annual reporting periods beginning December 15, 2018, and interim reporting periods within those annual periods, with early adoption permitted. The Company will adopt this new guidance on January 1, 2019, and the Company expects to use the optional transition method, which allows the Company to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption (i.e., comparative periods presented in the consolidated financial statements will continue to be in conformity with current GAAP). While the Company is in the process of evaluating the impact of the guidance, it does not expect the guidance to have a material impact on its consolidated financial statements, except for recognizing lease assets and lease liabilities for its operating leases. The Company's lease obligations under various non-cancellable operating lease agreements amounted to approximately $8,416 thousand at June 30, 2018. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments, including reinsurance receivables, held by companies. The new guidance replaces the incurred loss impairment methodology and requires an organization to measure and recognize all current expected credit losses (CECL) for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will need to utilize forward-looking information to better inform their credit loss estimates. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Any credit losses related to available for sale debt securities will be recorded through an allowance for credit losses with this allowance having a limit equal to the amount by which fair value is below amortized cost. The guidance also requires enhanced qualitative and quantitative disclosures to provide additional information about the amounts recorded in the financial statements. For public business entities that are SEC filers, the guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those years, using a modified-retrospective approach. Early application is permitted for annual reporting periods, and interim periods within those years, beginning after December 15, 2018. Management is evaluating the impact this guidance will have on the results of operations and financial position of the Company. Simplifying the Test for Goodwill Impairment

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment Contract And Life Policy Reserves	This table summarizes the Company’s investment contract and life policy reserves. ($ in thousands) June 30, 2018 December 31, 2017 Investment contract reserves $ 4,498,302 $ 4,452,972 Life policy reserves 1,135,867 1,120,763 Total $ 5,634,169 $ 5,573,735
Accumulated Other Comprehensive Income (Loss)	The following tables reconcile these components. ($ in thousands) Net Unrealized Investment Gains and Losses on Securities (1)(2) Defined Benefit Plans (1) Total (1) Beginning balance, April 1, 2018 $ 178,040 $ (13,217 ) $ 164,823 Other comprehensive income (loss) before reclassifications (52,873 ) — (52,873 ) Amounts reclassified from accumulated other comprehensive income (loss) 429 — 429 Cumulative effect of change in accounting principle (3) — — — Net current period other comprehensive income (loss) (52,444 ) — (52,444 ) Ending balance, June 30, 2018 $ 125,596 $ (13,217 ) $ 112,379 Beginning balance, January 1, 2018 $ 300,177 $ (13,217 ) $ 286,960 Other comprehensive income (loss) before reclassifications (162,412 ) — (162,412 ) Amounts reclassified from accumulated other comprehensive income (loss) 2,872 — 2,872 Cumulative effect of change in accounting principle (3) (15,041 ) — (15,041 ) Net current period other comprehensive income (loss) (174,581 ) — (174,581 ) Ending balance, June 30, 2018 $ 125,596 $ (13,217 ) $ 112,379 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $(544) thousand and $(3,636) thousand , are included in Net investment gains (losses) and the related income tax expenses, $(115) thousand and $(764) thousand , are included in Income tax expense in the Consolidated Statements of Operations for the three and six month periods ended June 30, 2018 , respectively. (3) The Company adopted guidance on January 1, 2018 that resulted in reclassifying $15,041 thousand of after tax net unrealized gains on equity securities from AOCI to Retained earnings. ($ in thousands) Net Unrealized Investment Gains and Losses on Securities (1)(2) Defined Benefit Plans (1) Total (1) Beginning balance, April 1, 2017 $ 198,271 $ (11,817 ) $ 186,454 Other comprehensive income (loss) before reclassifications 46,303 — 46,303 Amounts reclassified from accumulated other comprehensive income (loss) (1,064 ) — (1,064 ) Net current period other comprehensive income 45,239 — 45,239 Ending balance, June 30, 2017 $ 243,510 $ (11,817 ) $ 231,693 Beginning balance, January 1, 2017 $ 175,738 $ (11,817 ) $ 163,921 Other comprehensive income (loss) before reclassifications 68,633 — 68,633 Amounts reclassified from accumulated other comprehensive income (loss) (861 ) — (861 ) Net current period other comprehensive income 67,772 — 67,772 Ending balance, June 30, 2017 $ 243,510 $ (11,817 ) $ 231,693 ________________ (1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $1,638 thousand and $1,325 thousand , are included in Net investment gains (losses) and the related income tax expenses, $574 thousand and $464 thousand , are included in Income tax expense (benefit) in the Consolidated Statements of Operations for the three and six month periods ended June 30, 2017 , respectively.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Unrealized gains and losses on fixed maturities and equity securities	The amortized cost, net unrealized investment gains and losses and fair values of all fixed maturity securities in the portfolio were as follows: ($ in thousands) Amortized Cost/Cost Unrealized Investment Gains Unrealized Investment Losses Fair Value June 30, 2018 (1) Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 704,330 $ 19,586 $ 16,592 $ 707,324 Other, including U.S. Treasury securities 790,687 15,444 23,908 782,223 Municipal bonds 1,696,693 141,937 11,119 1,827,511 Foreign government bonds 92,872 3,217 584 95,505 Corporate bonds 2,342,531 82,113 26,920 2,397,724 Other mortgage-backed securities 1,664,910 15,663 15,295 1,665,278 Totals $ 7,292,023 $ 277,960 $ 94,418 $ 7,475,565 December 31, 2017 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 669,297 $ 30,460 $ 3,032 $ 696,725 Other, including U.S. Treasury securities 714,613 26,311 5,516 735,408 Municipal bonds 1,711,581 184,107 2,435 1,893,253 Foreign government bonds 96,780 5,958 — 102,738 Corporate bonds 2,409,426 173,862 4,334 2,578,954 Other mortgage-backed securities 1,701,253 22,935 7,191 1,716,997 Totals $ 7,302,950 $ 443,633 $ 22,508 $ 7,724,075 Equity securities (3) $ 116,320 $ 19,425 $ 279 $ 135,466 ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and are excluded from the table above as of June 30, 2018. (2) Fair value includes securities issued by Federal National Mortgage Association (FNMA) of $384,676 thousand and $361,955 thousand ; Federal Home Loan Mortgage Corporation (FHLMC) of $395,043 thousand and $400,001 thousand ; and Government National Mortgage Association (GNMA) of $97,103 thousand and $104,168 thousand as of June 30, 2018 and December 31, 2017 , respectively. (3) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds.
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position	The following table presents the fair value and gross unrealized losses of securities in an unrealized loss position at June 30, 2018 and December 31, 2017 , respectively. The Company views the decrease in value of all of the securities with unrealized losses at June 30, 2018 -- which was driven largely by changes in interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition -- as temporary. For fixed maturity securities, management does not have the intent to sell the securities and it is not more likely than not the Company will be required to sell the securities before the anticipated recovery of the amortized cost bases, and management expects to recover the entire amortized cost bases of the fixed maturity securities. Therefore, it was determined that the unrealized losses on the securities presented in the table below were not other than temporarily impaired as of June 30, 2018 . ($ in thousands) 12 Months or Less More than 12 Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses June 30, 2018 (1) Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 354,474 $ 12,787 $ 40,302 $ 3,805 $ 394,776 $ 16,592 Other 413,744 14,379 120,081 9,529 533,825 23,908 Municipal bonds 269,872 6,713 75,715 4,406 345,587 11,119 Foreign government bonds 19,912 584 — — 19,912 584 Corporate bonds 833,370 23,370 36,587 3,550 869,957 26,920 Other mortgage-backed securities 888,965 10,400 158,524 4,895 1,047,489 15,295 Total $ 2,780,337 $ 68,233 $ 431,209 $ 26,185 $ 3,211,546 $ 94,418 Number of positions with a gross unrealized loss 1,091 160 1,251 Fair value as a percentage of total fixed maturity securities fair value 36.6 % 5.7 % 42.3 % December 31, 2017 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 134,032 $ 1,053 $ 40,606 $ 1,979 $ 174,638 $ 3,032 Other 168,634 1,849 122,753 3,667 291,387 5,516 Municipal bonds 29,437 100 79,140 2,335 108,577 2,435 Foreign government bonds — — — — — — Corporate bonds 115,113 2,701 36,081 1,633 151,194 4,334 Other mortgage-backed securities 457,166 2,791 168,972 4,400 626,138 7,191 Total fixed maturity securities 904,382 8,494 447,552 14,014 1,351,934 22,508 Equity securities (2) 6,027 249 1,277 30 7,304 279 Combined totals $ 910,409 $ 8,743 $ 448,829 $ 14,044 $ 1,359,238 $ 22,787 Number of positions with a gross unrealized loss 354 158 512 Fair value as a percentage of total fixed maturity and equity securities fair value 11.6 % 5.7 % 17.3 % ________________ (1) Effective January 1, 2018, with the adoption of new accounting guidance for recognition and measurement of financial instruments, available for sale equity securities were reclassified to equity securities at fair value and are excluded from the table above as of June 30, 2018. (2) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds.
Summary of cumulative credit losses	The following table summarizes the cumulative amounts related to the Company’s credit loss component of other-than-temporary impairment (OTTI) losses on fixed maturity securities held as of June 30, 2018 and 2017 that the Company did not intend to sell as of those dates, and it was not more likely than not that the Company would be required to sell the securities before the anticipated recovery of the amortized cost bases, for which the non-credit portions of OTTI losses were recognized in OCI: ($ in thousands) Six Months Ended June 30, 2018 2017 Cumulative credit loss (1) Beginning of period $ 3,825 $ 13,703 New credit losses — — Increases to previously recognized credit losses 246 1,910 Gains (losses) related to securities sold or paid down during the period — (2 ) End of period $ 4,071 $ 15,611 ________________ (1)
Distribution of the Company's fixed maturity portfolio by estimated expected maturity	The following table presents the distribution of the Company’s fixed maturity securities portfolio by estimated expected maturity. Estimated expected maturities differ from contractual maturities, reflecting assumptions regarding borrowers’ utilization of the right to call or prepay obligations with or without call or prepayment penalties. For structured securities, including mortgage-backed securities and other asset-backed securities, estimated expected maturities consider broker-dealer survey prepayment assumptions and are verified for consistency with the interest rate and economic environments. ($ in thousands) Percent of Total Fair Value June 30, 2018 June 30, 2018 December 31, 2017 Fair Value Amortized Cost Estimated expected maturity: Due in 1 year or less 4.2 % 3.2 % $ 312,584 $ 308,703 Due after 1 year through 5 years 24.5 26.7 1,829,489 1,794,597 Due after 5 years through 10 years 32.4 32.6 2,423,204 2,405,751 Due after 10 years through 20 years 25.2 24.2 1,885,539 1,828,415 Due after 20 years 13.7 13.3 1,024,749 954,557 Total 100.0 % 100.0 % $ 7,475,565 $ 7,292,023 Average option-adjusted duration, in years 6.0 5.9
Proceeds received from sales of fixed maturities and equity securities	Proceeds received from sales of fixed maturity and equity securities, each determined using the specific identification method, and gross gains and gross losses realized as a result of those sales for each period were: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Fixed maturity securities Proceeds received $ 100,129 $ 118,818 $ 190,023 $ 229,690 Gross gains realized 2,352 4,080 4,022 6,569 Gross losses realized (1,584 ) (496 ) (1,637 ) (1,377 ) Equity securities Proceeds received $ 3,735 $ 11,507 $ 5,783 $ 16,996 Gross gains realized 977 1,702 1,593 2,750 Gross losses realized (147 ) (236 ) (181 ) (428 )
Net Realized Investment Gains (Losses)	The following table reconciles the net investment gains and losses (pretax) by transaction type: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Impairment write-downs $ — $ — $ — $ (1,777 ) Change in intent write-downs (1,177 ) (3,564 ) (1,287 ) (4,583 ) Net OTTI losses recognized in earnings (1,177 ) (3,564 ) (1,287 ) — (6,360 ) Sales and other, net 1,789 5,202 3,992 7,685 Change in fair value - equity securities (1) (1,156 ) — (6,342 ) — Change in fair value and gains (losses) realized on settlements - derivative instruments 1,279 434 2,718 505 Net investment gains (losses) $ 735 $ 2,072 $ (919 ) — $ 1,830 ________________ (1)
Reconciliation of net unrealized investment gains (losses) on fixed maturity securities and equity securities	The following table reconciles the net unrealized investment gains and losses, net of tax, included in AOCI, before the impact of deferred policy acquisition costs (DAC): ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net unrealized investment gains and losses on securities, net of tax Beginning of period $ 206,293 $ 228,337 $ 286,176 $ 202,941 Change in net unrealized investment gains (61,724 ) 54,193 (129,009 ) 79,386 Reclassification of net investment (gains) losses to net income 429 (1,065 ) 2,872 (862 ) Reclassification of unrealized gains on equity securities, net of tax, to Retained earnings (1) — — (15,041 ) — End of period $ 144,998 $ 281,465 $ 144,998 $ 281,465 ________________ (1)
Offsetting assets and liability	The following table presents the instruments that were subject to a master netting arrangement for the Company. ($ in thousands) Gross Amounts Offset in the Net Amounts of Assets/ Liabilities Presented in the Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts Consolidated Balance Sheets Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount June 30, 2018 Asset derivatives: Free-standing derivatives $ 9,376 $ — $ 9,376 $ — $ 10,484 $ (1,108 ) December 31, 2017 Asset derivatives: Free-standing derivatives $ 15,550 $ — $ 15,550 $ — $ 15,584 $ (34 )

Fair Value of Financial Instr22

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Summary of Company's fair value hierarchy measured at recurring basis	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured and carried at fair value on a recurring basis. At June 30, 2018 , Level 3 invested assets comprised 3.3% of the Company’s total investment portfolio at fair value. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 June 30, 2018 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 707,324 $ 707,324 $ — $ 703,543 $ 3,781 Other, including U.S. Treasury securities 782,223 782,223 13,201 769,022 — Municipal bonds 1,827,511 1,827,511 — 1,777,590 49,921 Foreign government bonds 95,505 95,505 — 95,505 — Corporate bonds 2,397,724 2,397,724 13,397 2,291,664 92,663 Other mortgage-backed securities 1,665,278 1,665,278 — 1,539,998 125,280 Total fixed maturity securities 7,475,565 7,475,565 26,598 7,177,322 271,645 Equity securities 130,780 130,780 80,236 — 50,538 — 6 Short-term investments 176,497 176,497 176,497 — — Other investments 21,876 21,876 — 21,876 — Totals $ 7,804,718 $ 7,804,718 $ 283,331 $ 7,249,736 $ 271,651 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 486 $ 486 $ — $ 486 $ — Other policyholder funds, embedded derivatives 77,788 77,788 — — 77,788 December 31, 2017 Financial Assets Investments Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 696,725 $ 696,725 $ — $ 693,375 $ 3,350 Other, including U.S. Treasury securities 735,408 735,408 13,393 722,015 — Municipal bonds 1,893,253 1,893,253 — 1,843,925 49,328 Foreign government bonds 102,738 102,738 — 102,738 — Corporate bonds 2,578,954 2,578,954 14,345 2,491,630 72,979 Other mortgage-backed securities 1,716,997 1,716,997 — 1,612,403 104,594 Total fixed maturity securities 7,724,075 7,724,075 27,738 7,466,086 230,251 Equity securities 135,466 135,466 82,208 53,252 6 Short-term investments 62,593 62,593 62,593 — — Other investments 28,050 28,050 — 28,050 — Totals $ 7,950,184 $ 7,950,184 $ 172,539 $ 7,547,388 $ 230,257 Financial Liabilities Investment contract and life policy reserves, embedded derivatives $ 594 $ 594 $ — $ 594 $ — Other policyholder funds, embedded derivatives 80,733 80,733 — — 80,733
Table for reconciliations for all Level 3 assets measured at fair value on a recurring basis	The following table presents reconciliations for the periods indicated for all Level 3 assets and liabilities measured at fair value on a recurring basis. ($ in thousands) Financial Assets Financial Liabilities(1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, April, 1, 2018 $ 49,748 $ 78,780 $ 115,334 $ 243,862 $ 6 $ — $ 243,868 $ 78,486 Transfers into Level 3 (3) — 29,709 18,322 48,031 — — 48,031 — Transfers out of Level 3 (3) — (11,279 ) (4,230 ) (15,509 ) — — (15,509 ) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — (246 ) — (246 ) — — (246 ) — Net (gains) losses included in net income related to financial liabilities — — — — — — — (1,291 ) Net unrealized investment gains (losses) included in OCI 397 (700 ) 1,659 1,356 — — 1,356 — Purchases — — — — — — — — Issuances — — — — — — — 2,107 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (224 ) (3,601 ) (2,024 ) (5,849 ) — — (5,849 ) (1,514 ) Ending balance, June 30, 2018 $ 49,921 $ 92,663 $ 129,061 $ 271,645 $ 6 $ — $ 271,651 $ 77,788 Beginning balance, January 1, 2018 $ 49,328 $ 72,979 $ 107,944 $ 230,251 $ 6 $ — $ 230,257 $ 80,733 Transfers into Level 3 (3) — 40,487 33,144 73,631 — — 73,631 — Transfers out of Level 3 (3) — (11,279 ) (4,230 ) (15,509 ) — — (15,509 ) — Total gains or losses Net investment gains (losses) included in net income related to financial assets — (246 ) — (246 ) 3 — (243 ) — Net (gains) losses included in net income related to financial liabilities — — — — — — — (3,513 ) Net unrealized investment gains (losses) included in OCI 840 (1,587 ) 637 (110 ) — — (110 ) — Purchases — — — — — — — — Issuances — — — — — — — 3,439 Sales — — — — (3 ) — (3 ) — Settlements — — — — — — — — Paydowns, maturities and distributions (247 ) (7,691 ) (8,434 ) (16,372 ) — — (16,372 ) (2,871 ) Ending balance, June 30, 2018 $ 49,921 $ 92,663 $ 129,061 $ 271,645 $ 6 $ — $ 271,651 $ 77,788 ________________ (1) Represents embedded derivatives, all related to FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and six month periods ended June 30, 2018 were attributable to changes in the availability of observable market information for individual fixed maturity securities and short-term investments. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined. ($ in thousands) Financial Assets Financial Liabilities(1) Municipal Bonds Corporate Bonds Mortgage- Backed Securities (2) Total Fixed Maturity Securities Equity Securities Short-term Investments Total Beginning balance, April 1, 2017 $ 53,462 $ 82,495 $ 112,794 $ 248,751 $ 6 $ — $ 248,757 $ 64,261 Transfers into Level 3 (3) — 2,001 9,482 11,483 — — 11,483 — Transfers out of Level 3 (3) (5,557 ) (5,853 ) — (11,410 ) — — (11,410 ) — Total gains or losses Net realized investment gains (losses) included in net income related to financial assets — — (1,714 ) (1,714 ) — — (1,714 ) — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 1,238 Net unrealized investment gains (losses) included in other comprehensive income 1,287 359 3,093 4,739 — — 4,739 — Purchases — — — — — — — — Issuances — — — — — — — 3,397 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (69 ) (1,950 ) (3,331 ) (5,350 ) — — (5,350 ) (901 ) Ending balance, June 30, 2017 $ 49,123 $ 77,052 $ 120,324 $ 246,499 $ 6 $ — $ 246,505 $ 67,995 Beginning balance, January 1, 2017 $ 46,497 $ 60,191 $ 104,659 $ 211,347 $ 6 $ 751 $ 212,104 $ 59,393 Transfers into Level 3 (3) 5,214 31,919 24,521 61,654 — — 61,654 — Transfers out of Level 3 (3) (5,557 ) (11,963 ) — (17,520 ) — (751 ) (18,271 ) — Total gains or losses Net realized investment gains (losses) included in net income related to financial assets — — (1,714 ) (1,714 ) — — (1,714 ) — Net realized (gains) losses included in net income related to financial liabilities — — — — — — — 3,546 Net unrealized investment gains (losses) included in other comprehensive income 3,158 455 2,322 5,935 — — 5,935 — Purchases — — — — — — — — Issuances — — — — — — — 6,786 Sales — — — — — — — — Settlements — — — — — — — — Paydowns, maturities and distributions (189 ) (3,550 ) (9,464 ) (13,203 ) — — (13,203 ) (1,730 ) Ending balance, June 30, 2017 $ 49,123 $ 77,052 $ 120,324 $ 246,499 $ 6 $ — $ 246,505 $ 67,995 ________________ (1) Represents embedded derivatives, all related to FIA products, reported in Other policyholder funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and six month periods ended June 30, 2017
Summary of fair value assets and liabilities measured on nonrecurring basis	The Company has various other financial assets and financial liabilities used in the normal course of business that are not carried at fair value, but for which fair value disclosure is required. The following table presents the carrying value, fair value and fair value hierarchy of these financial assets and financial liabilities. ($ in thousands) Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 June 30, 2018 Financial Assets Investments Other investments $ 154,327 $ 159,019 $ — $ — $ 159,019 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,498,302 4,399,614 — — 4,399,614 Investment contract and life policy reserves, account values on life contracts 84,163 89,761 — — 89,761 Other policyholder funds 640,722 640,722 — 575,928 64,794 Long-term debt 297,603 302,695 — 302,695 — December 31, 2017 Financial Assets Investments Other investments $ 154,898 $ 159,575 $ — $ — $ 159,575 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,452,972 4,366,334 — — 4,366,334 Investment contract and life policy reserves, 82,911 88,620 — — 88,620 Other policyholder funds 643,528 643,528 — 575,622 67,906 Long-term debt 297,469 311,315 — 311,315 —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, are presented in the Consolidated Balance Sheets as follows: ($ in thousands) June 30, 2018 December 31, 2017 Assets Derivative instruments, included in Short-term and other investments $ 9,376 $ 15,550 Liabilities FIA - embedded derivatives, included in Other policyholder funds $ 77,788 $ 80,733 IUL - embedded derivatives, included in Investment contract and life policy reserves 486 594
Derivative Instruments, Gain (Loss)	The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Change in fair value of derivatives (1): Revenues Net investment gains (losses) $ (2 ) $ 1,729 $ (851 ) $ 4,166 Change in fair value of embedded derivatives: Revenues Net investment gains (losses) $ 1,281 $ (1,295 ) $ 3,569 $ (3,661 ) ________________ (1)
Financing Receivable Credit Quality Indicators	The notional amount and fair value of call options by counterparty and each counterparty’s long-term credit ratings were as follows: ($ in thousands) June 30, 2018 December 31, 2017 Credit Rating Notional Fair Notional Fair Counterparty S&P Moody's Amount Value Amount Value Bank of America, N.A. A+ Aa3 $ 105,100 $ 5,195 $ 85,100 $ 6,320 Barclays Bank PLC A A2 39,100 783 48,900 1,828 Citigroup Inc. BBB+ — — — — Credit Suisse International A A1 11,000 324 21,100 1,444 Societe Generale A 103,400 3,074 91,700 5,958 Total $ 258,600 $ 9,376 $ 246,800 $ 15,550

Property and Casualty Unpaid 24

Property and Casualty Unpaid Claims and Claim Expenses (Tables)	6 Months Ended
	Jun. 30, 2018
Insurance Loss Reserves [Abstract]
Reconciliation of property and casualty unpaid claims and claim expenses	The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets. ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Property and Casualty Beginning gross reserves (1) $ 331,255 $ 316,173 $ 319,182 $ 307,757 Less: reinsurance recoverables 62,917 61,804 57,409 61,199 Net reserves, beginning of period (2) 268,338 254,369 261,773 246,558 Incurred claims and claim expenses: Claims occurring in the current period 147,005 148,348 267,993 271,552 Decrease in estimated reserves for claims occurring in prior periods (3) — (600 ) (300 ) (1,600 ) Total claims and claim expenses incurred (4) 147,005 147,748 267,693 269,952 Claims and claim expense payments for claims occurring during: Current period 80,403 95,645 127,451 148,025 Prior periods 45,006 35,538 112,081 97,551 Total claims and claim expense payments 125,409 131,183 239,532 245,576 Net reserves, end of period (2) 289,934 270,934 289,934 270,934 Plus: reinsurance recoverables 62,883 58,897 62,883 58,897 Ending gross reserves (1) $ 352,817 $ 329,831 $ 352,817 $ 329,831 ________________ (1) Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life and Retirement of $27,016 thousand and $22,682 thousand as of June 30, 2018 and 2017 , respectively, in addition to Property and Casualty reserves. (2) Reserves net of anticipated reinsurance recoverables. (3) Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs. (4) Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for Life and Retirement of $21,273 thousand and $44,147 thousand for the three and six month periods ended June 30, 2018 , respectively, in addition to Property and Casualty amounts. Benefits, claims and settlement expenses for Life and Retirement were $18,131 thousand and $40,023 thousand for the three and six month periods ended June 30, 2017 , respectively

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Summary of Indebtedness outstanding	Indebtedness outstanding was as follows: ($ in thousands) June 30, 2018 December 31, 2017 Short-term debt: Bank Credit Facility, expires June 27, 2023 $ — $ — Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 thousand less unaccrued discount of $518 and $547 thousand (4.5% imputed rate) and unamortized debt issuance costs of $1,879 thousand and $1,984 thousand 247,603 247,469 Federal Home Loan Bank borrowing 50,000 50,000 Total $ 297,603 $ 297,469

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2018
Insurance [Abstract]
Effects of reinsurance on premiums and benefits	The effects of reinsurance on premiums written and contract deposits; premiums and contract charges earned; and benefits, claims and settlement expenses were as follows: ($ in thousands) Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Three months ended June 30, 2018 Premiums written and contract deposits (1) $ 305,864 $ 5,483 $ 1,341 $ 301,722 Premiums and contract charges earned 209,892 5,505 1,223 205,610 Benefits, claims and settlement expenses 170,459 3,330 1,149 168,278 Three months ended June 30, 2017 Premiums written and contract deposits (1) $ 316,123 $ 5,643 $ 1,134 $ 311,614 Premiums and contract charges earned 200,351 5,665 1,032 195,718 Benefits, claims and settlement expenses 168,218 3,185 846 165,879 Six months ended June 30, 2018 Premiums written and contract deposits (1) $ 594,680 $ 10,997 $ 2,047 $ 585,730 Premiums and contract charges earned 417,629 11,033 2,012 408,608 Benefits, claims and settlement expenses 322,427 12,344 1,757 311,840 Six months ended June 30, 2017 Premiums written and contract deposits (1) $ 617,635 $ 11,153 $ 1,864 $ 608,346 Premiums and contract charges earned 400,806 11,199 1,833 391,440 Benefits, claims and settlement expenses 315,489 7,068 1,554 309,975 ________________ (1)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Summarized financial information for these segments	Summarized financial information for these segments is as follows: ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Insurance premiums and contract charges earned Property and Casualty $ 167,333 $ 160,460 $ 332,791 $ 318,778 Retirement 7,825 6,759 15,893 13,360 Life 30,452 28,499 59,924 59,302 Total $ 205,610 $ 195,718 $ 408,608 $ 391,440 Net investment income Property and Casualty $ 10,300 $ 8,113 $ 19,816 $ 17,290 Retirement 67,787 65,139 131,956 128,581 Life 19,166 18,928 37,506 37,216 Corporate and Other 42 18 78 30 Intersegment eliminations (194 ) (204 ) (391 ) (412 ) Total $ 97,101 $ 91,994 $ 188,965 $ 182,705 Net income (loss) Property and Casualty $ (10,896 ) $ (13,956 ) $ (1,174 ) $ (11,221 ) Retirement 14,141 11,800 25,562 23,330 Life 5,879 5,610 9,666 9,495 Corporate and Other (3,207 ) (1,193 ) (7,982 ) (4,025 ) Total $ 5,917 $ 2,261 $ 26,072 $ 17,579 ($ in thousands) June 30, 2018 December 31, 2017 Assets Property and Casualty $ 1,227,650 $ 1,217,394 Retirement 8,033,572 8,063,912 Life 1,786,525 1,815,732 Corporate and Other 141,615 143,784 Intersegment eliminations (33,148 ) (42,482 ) Total $ 11,156,214 $ 11,198,340

Basis of Presentation - Investm

Basis of Presentation - Investment Contract and Life Policy Reserves (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment contract reserves	$ 4,498,302	$ 4,452,972
Life policy reserves	1,135,867	1,120,763
Total	$ 5,634,169	$ 5,573,735

Basis of Presentation - Accumul

Basis of Presentation - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 1,501,573
Other comprehensive income (loss) before reclassifications	$ (52,873)	$ 46,303	(162,412)	$ 68,633
Amounts reclassified from accumulated other comprehensive income (loss)	429	(1,064)	2,872	(861)
Cumulative effect of change in accounting principle (3)	0	0	(15,041)	0
Other comprehensive income (loss)	(52,444)	45,239	(174,581)	67,772
Ending balance	1,350,441	1,362,130	1,350,441	1,362,130
Other income tax expense (benefit)	(115)	574	(764)	464
Reclassification of unrealized gains on equity securities, net of tax	0	0	15,041	0
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	164,823	186,454	286,960	163,921
Cumulative effect of change in accounting principle (3)			(15,041)	0
Ending balance	112,379	231,693	112,379	231,693
Net Unrealized Investment Gains and Losses on Fixed Maturity and Equity Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	178,040	198,271	300,177	175,738
Other comprehensive income (loss) before reclassifications	(52,873)	46,303	(162,412)	68,633
Amounts reclassified from accumulated other comprehensive income (loss)	429	(1,064)	2,872	(861)
Cumulative effect of change in accounting principle (3)	0		(15,041)
Other comprehensive income (loss)	(52,444)	45,239	(174,581)	67,772
Ending balance	125,596	243,510	125,596	243,510
Pretax reclassification amounts from accumulated other comprehensive income (loss)	(544)	1,638	(3,636)	1,325
Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(13,217)	(11,817)	(13,217)	(11,817)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Cumulative effect of change in accounting principle (3)	0		0
Other comprehensive income (loss)	0	0	0	0
Ending balance	$ (13,217)	$ (11,817)	$ (13,217)	$ (11,817)

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Basis of Presentation [Line Items]
Cumulative effect of change in accounting principle (3)	$ 0	$ 0	$ (15,041)	$ 0
Future lease commitments	8,416		8,416
Retained earnings
Basis of Presentation [Line Items]
Cumulative effect of change in accounting principle (3)			15,041	0
Accumulated other comprehensive income, net of tax:
Basis of Presentation [Line Items]
Cumulative effect of change in accounting principle (3)			(15,041)	$ 0
Stranded Tax Amounts Reclassified			47,900
Net Unrealized Investment Gains and Losses on Fixed Maturity and Equity Securities
Basis of Presentation [Line Items]
Cumulative effect of change in accounting principle (3)	0		(15,041)
Stranded Tax Amounts Reclassified			50,034
Benefit Plans
Basis of Presentation [Line Items]
Cumulative effect of change in accounting principle (3)	$ 0		0
Stranded Tax Amounts Reclassified			$ (2,134)

Investments - Summary of Fair V

Investments - Summary of Fair Value and Amortized Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	$ 7,292,023	$ 7,302,950
Amortized Cost/Cost		116,320
Fair Value	7,475,565	7,724,075
Federal National Mortgage Association Certificates and Obligations (FNMA)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	384,676	361,955
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	395,043	400,001
Government National Mortgage Association Certificates and Obligations (GNMA)
Unrealized gains and losses on fixed maturities and equity securities
Fair Value	97,103	104,168
Total Fixed Maturity Securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	7,292,023	7,302,950
Unrealized Investment Gains	277,960	443,633
Unrealized Investment Losses	94,418	22,508
Fair Value	7,475,565	7,724,075
Mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	704,330	669,297
Unrealized Investment Gains	19,586	30,460
Unrealized Investment Losses	16,592	3,032
Fair Value	707,324	696,725
Other, including U.S. Treasury securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	790,687	714,613
Unrealized Investment Gains	15,444	26,311
Unrealized Investment Losses	23,908	5,516
Fair Value	782,223	735,408
Municipal bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	1,696,693	1,711,581
Unrealized Investment Gains	141,937	184,107
Unrealized Investment Losses	11,119	2,435
Fair Value	1,827,511	1,893,253
Foreign government bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	92,872	96,780
Unrealized Investment Gains	3,217	5,958
Unrealized Investment Losses	584	0
Fair Value	95,505	102,738
Corporate bonds
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	2,342,531	2,409,426
Unrealized Investment Gains	82,113	173,862
Unrealized Investment Losses	26,920	4,334
Fair Value	2,397,724	2,578,954
Other mortgage-backed securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	1,664,910	1,701,253
Unrealized Investment Gains	15,663	22,935
Unrealized Investment Losses	15,295	7,191
Fair Value	$ 1,665,278	1,716,997
Equity securities
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		116,320
Unrealized Investment Gains		19,425
Unrealized Investment Losses		279
Fair Value		$ 135,466

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses (Details) $ in Thousands	Jun. 30, 2018USD ($)security	Dec. 31, 2017USD ($)security
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 2,780,337	$ 910,409
Fixed maturity securities, Fair Value, More than 12 Months	431,209	448,829
Fixed maturity securities, Fair Value, Total	3,211,546	1,359,238
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	68,233	8,743
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	26,185	14,044
Fixed maturity securities, Gross Unrealized Losses, Total	$ 94,418	$ 22,787
Number of positions with a gross unrealized loss, 12 Months or Less | security	1,091	354
Number of position with a gross unrealized loss, more than 12 months | security	160	158
Number of position with a gross unrealized loss, Total | security	1,251	512
Fair value as a percentage of total fixed maturities and equity securities fair value, 12 Months or Less	36.60%	11.60%
Fair value as a percentage of total fixed maturities and equity securities fair value, more than 12 months	5.70%	5.70%
Fair value as a percentage of total fixed maturities and equity securities fair value, Total	42.30%	17.30%
Mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	$ 354,474	$ 134,032
Fixed maturity securities, Fair Value, More than 12 Months	40,302	40,606
Fixed maturity securities, Fair Value, Total	394,776	174,638
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	12,787	1,053
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	3,805	1,979
Fixed maturity securities, Gross Unrealized Losses, Total	16,592	3,032
Other
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	413,744	168,634
Fixed maturity securities, Fair Value, More than 12 Months	120,081	122,753
Fixed maturity securities, Fair Value, Total	533,825	291,387
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	14,379	1,849
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	9,529	3,667
Fixed maturity securities, Gross Unrealized Losses, Total	23,908	5,516
Municipal bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	269,872	29,437
Fixed maturity securities, Fair Value, More than 12 Months	75,715	79,140
Fixed maturity securities, Fair Value, Total	345,587	108,577
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	6,713	100
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	4,406	2,335
Fixed maturity securities, Gross Unrealized Losses, Total	11,119	2,435
Foreign government bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	19,912	0
Fixed maturity securities, Fair Value, More than 12 Months	0	0
Fixed maturity securities, Fair Value, Total	19,912	0
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	584	0
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	0	0
Fixed maturity securities, Gross Unrealized Losses, Total	584	0
Corporate bonds
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	833,370	115,113
Fixed maturity securities, Fair Value, More than 12 Months	36,587	36,081
Fixed maturity securities, Fair Value, Total	869,957	151,194
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	23,370	2,701
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	3,550	1,633
Fixed maturity securities, Gross Unrealized Losses, Total	26,920	4,334
Other mortgage-backed securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	888,965	457,166
Fixed maturity securities, Fair Value, More than 12 Months	158,524	168,972
Fixed maturity securities, Fair Value, Total	1,047,489	626,138
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	10,400	2,791
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	4,895	4,400
Fixed maturity securities, Gross Unrealized Losses, Total	$ 15,295	7,191
Total Fixed Maturity Securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		904,382
Fixed maturity securities, Fair Value, More than 12 Months		447,552
Fixed maturity securities, Fair Value, Total		1,351,934
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		8,494
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		14,014
Fixed maturity securities, Gross Unrealized Losses, Total		22,508
Equity securities
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		6,027
Fixed maturity securities, Fair Value, More than 12 Months		1,277
Fixed maturity securities, Fair Value, Total		7,304
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		249
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		30
Fixed maturity securities, Gross Unrealized Losses, Total		$ 279

Investments - Rollforward of OT

Investments - Rollforward of OTTI Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cumulative credit loss
Beginning of period	$ 3,825	$ 13,703
New credit losses	0	0
Increases to previously recognized credit losses	246	1,910
Gains (losses) related to securities sold or paid down during the period	0	(2)
End of period	$ 4,071	$ 15,611

Investments - Distribution of F

Investments - Distribution of Fixed Maturity Securities by Expected Maturity (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Percent of Total Fair Value
Due in 1 year or less, Percent of Total Fair Value	4.20%	3.20%
Due after 1 year through 5 years, Percent of Total Fair Value	24.50%	26.70%
Due after 5 years through 10 years, Percent of Total Fair Value	32.40%	32.60%
Due after 10 years through 20 years, Percent of Total Fair Value	25.20%	24.20%
Due after 20 years, Percent of Total Fair Value	13.70%	13.30%
Total, Percent of Total Fair Value	100.00%	100.00%
Fair Value
Due in 1 year or less, Fair Value	$ 312,584
Due after 1 year through 5 years, Fair Value	1,829,489
Due after 5 years through 10 years, Fair Value	2,423,204
Due after 10 years through 20 years, Fair Value	1,885,539
Due after 20 years, Fair Value	1,024,749
Total, Fair Value	7,475,565	$ 7,724,075
Amortized Cost
Due in 1 year or less, Amortized Cost	308,703
Due after 1 year through 5 years, Amortized Cost	1,794,597
Due after 5 years through 10 years, Amortized Cost	2,405,751
Due after 10 years through 20 years, Amortized Cost	1,828,415
Due after 20 years, Amortized Cost	954,557
Total, Amortized Cost	$ 7,292,023	$ 7,302,950
Average option-adjusted duration, in years	6 years	5 years 10 months 24 days

Investments - Summary of Procee

Investments - Summary of Proceeds and Gains (Losses) Realized on Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Debt Securities, Available-for-sale [Line Items]
Proceeds received, Fixed maturity securities	$ 100,129	$ 118,818	$ 190,023	$ 229,690
Proceeds received, Equity securities	3,735	11,507	5,783	16,996
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Gross gains realized	2,352	4,080	4,022	6,569
Gross losses realized	(1,584)	(496)	(1,637)	(1,377)
Equity securities
Debt Securities, Available-for-sale [Line Items]
Gross gains realized	977	1,702	1,593	2,750
Gross losses realized	$ (147)	$ (236)	$ (181)	$ (428)

Investments - Reconciliation of

Investments - Reconciliation of Net Unrealized Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 1,501,573
Change in net unrealized investment gains on securities	$ (52,444)	$ 45,239	(159,540)	$ 67,772
Cumulative effect of change in accounting principle	0	0	(15,041)	0
Ending balance	1,350,441	1,362,130	1,350,441	1,362,130
Net Unrealized Investment Gains and Losses on Fixed Maturity and Equity Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	178,040	198,271	300,177	175,738
Cumulative effect of change in accounting principle	0		(15,041)
Ending balance	125,596	243,510	125,596	243,510
Net Unrealized Investment Gains and Losses on Fixed Maturity and Equity Securities | Fixed maturity securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	206,293	228,337	286,176	202,941
Change in net unrealized investment gains on securities	(61,724)	54,193	(129,009)	79,386
Reclassification of net investment (gains) losses to net income	429	(1,065)	2,872	(862)
Ending balance	$ 144,998	$ 281,465	$ 144,998	$ 281,465

Investments - Offsetting of Ass

Investments - Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Asset derivatives:
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets	$ 9,376	$ 15,550
Free-standing derivatives
Asset derivatives:
Gross Amounts	9,376	15,550
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets	9,376	15,550
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	0	0
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	10,484	15,584
Net Amount	$ (1,108)	$ (34)

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Investment Grade Rate	96.60%
Fair value of issued securities	$ 7,475,565	$ 7,724,075
Federal Home Loan Bank Funding Agreements	625,000	625,000
Federal Home Loans Bank Of Chicago
Investment Holdings [Line Items]
Fair value of issued securities	625,165	686,790
Governmental Agencies as Required by Law in Various States
Investment Holdings [Line Items]
Fair value of issued securities	$ 17,782	$ 17,985

Investments - Net Realized Gain

Investments - Net Realized Gain (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Impairment write-downs	$ 0	$ 0	$ 0	$ (1,777)
Change in intent write-downs	(1,177)	(3,564)	(1,287)	(4,583)
Net OTTI losses recognized in earnings	(1,177)	(3,564)	(1,287)	(6,360)
Sales and other, net	1,789	5,202	3,992	7,685
Change in fair value - equity securities	(1,156)	0	(6,342)	0
Change in fair value and gains (losses) realized on settlements - derivative instruments	1,279	434	2,718	505
Net investment gains (losses)	$ 735	$ 2,072	$ (919)	$ 1,830

Fair Value of Financial Instr40

Fair Value of Financial Instruments - Financial Instruments Measured and Carried at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	$ 1,356	$ 4,739	$ (110)	$ 5,935
Net unrealized investment gains (losses) included in other comprehensive income	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	0
Purchases	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0	0	0
Issuances	2,107	3,397	3,439	6,786
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	271,651	246,505	271,651	246,505	$ 243,868	$ 230,257	$ 248,757	$ 212,104
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	77,788	67,995	77,788	67,995	78,486	80,733	64,261	59,393
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	48,031	11,483	73,631	61,654
Transfers into Level 3	0	0	0	0
Net realized investment gains (losses) included in net income related to financial assets	(246)	(1,714)	(243)	(1,714)
Net realized gains (losses) included in net income related to financial liabilities	(1,291)	1,238	(3,513)	3,546
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	15,509	11,410	15,509	18,271
Transfers out of Level 3	0	0	0	0
Financial Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0	3	0
Sales	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0	0	0
Settlements	0	0	0	0
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPaydownsAndMaturities	1,514	901	2,871	1,730
Paydowns, maturities and distributions	5,849	5,350	16,372	13,203
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	0	0	0	0	0	0	0	751
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	0	0
Net realized investment gains (losses) included in net income related to financial assets	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0	0	0	751
Financial Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0	0	0
Paydowns, maturities and distributions	0	0	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	397	1,287	840	3,158
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	49,921	49,123	49,921	49,123	49,748	49,328	53,462	46,497
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	0	5,214
Net realized investment gains (losses) included in net income related to financial assets	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0	5,557	0	5,557
Financial Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0	0	0
Paydowns, maturities and distributions	224	69	247	189
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	(700)	359	(1,587)	455
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	92,663	77,052	92,663	77,052	78,780	72,979	82,495	60,191
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	29,709	2,001	40,487	31,919
Net realized investment gains (losses) included in net income related to financial assets	(246)	0	(246)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	11,279	5,853	11,279	11,963
Financial Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0	0	0
Paydowns, maturities and distributions	3,601	1,950	7,691	3,550
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	6	6	6	6	$ 6	6	$ 6	$ 6
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	0	0
Net realized investment gains (losses) included in net income related to financial assets	0	0	3	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	0	0	0	0
Financial Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0	3	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0	0	0
Paydowns, maturities and distributions	0	$ 0	0	$ 0
Carrying Amount
U.S. Government and federally sponsored agency obligations:
Investments	7,804,718		7,804,718			7,950,184
Financial Liabilities
Investment contract and life policy reserves, embedded derivatives	486		486			594
Other policyholder funds, embedded derivatives	77,788		77,788			80,733
Carrying Amount | Recurring
U.S. Government and federally sponsored agency obligations:
Investments	7,475,565		7,475,565			7,724,075
Carrying Amount | Short-term investments
U.S. Government and federally sponsored agency obligations:
Investments	176,497		176,497			62,593
Carrying Amount | Mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	707,324		707,324			696,725
Carrying Amount | Other, including U.S. Treasury securities
U.S. Government and federally sponsored agency obligations:
Investments	782,223		782,223			735,408
Carrying Amount | Municipal bonds
U.S. Government and federally sponsored agency obligations:
Investments	1,827,511		1,827,511			1,893,253
Carrying Amount | Foreign government bonds
U.S. Government and federally sponsored agency obligations:
Investments	95,505		95,505			102,738
Carrying Amount | Corporate bonds
U.S. Government and federally sponsored agency obligations:
Investments	2,397,724		2,397,724			2,578,954
Carrying Amount | Other mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	1,665,278		1,665,278			1,716,997
Carrying Amount | Equity securities
U.S. Government and federally sponsored agency obligations:
Investments	130,780		130,780			135,466
Carrying Amount | Other investments
U.S. Government and federally sponsored agency obligations:
Investments	21,876		21,876			28,050
Fair Value
U.S. Government and federally sponsored agency obligations:
Investments	7,804,718		7,804,718			7,950,184
Financial Liabilities
Investment contract and life policy reserves, embedded derivatives	486		486			594
Other policyholder funds, embedded derivatives	77,788		77,788			80,733
Fair Value | Recurring
U.S. Government and federally sponsored agency obligations:
Investments	7,475,565		7,475,565			7,724,075
Fair Value | Short-term investments
U.S. Government and federally sponsored agency obligations:
Investments	176,497		176,497			62,593
Fair Value | Mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	707,324		707,324			696,725
Fair Value | Other, including U.S. Treasury securities
U.S. Government and federally sponsored agency obligations:
Investments	782,223		782,223			735,408
Fair Value | Municipal bonds
U.S. Government and federally sponsored agency obligations:
Investments	1,827,511		1,827,511			1,893,253
Fair Value | Foreign government bonds
U.S. Government and federally sponsored agency obligations:
Investments	95,505		95,505			102,738
Fair Value | Corporate bonds
U.S. Government and federally sponsored agency obligations:
Investments	2,397,724		2,397,724			2,578,954
Fair Value | Other mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	1,665,278		1,665,278			1,716,997
Fair Value | Equity securities
U.S. Government and federally sponsored agency obligations:
Investments	130,780		130,780			135,466
Fair Value | Other investments
U.S. Government and federally sponsored agency obligations:
Investments	21,876		21,876			28,050
Fair Value | Level 1
U.S. Government and federally sponsored agency obligations:
Investments	283,331		283,331			172,539
Financial Liabilities
Investment contract and life policy reserves, embedded derivatives	0		0			0
Other policyholder funds, embedded derivatives	0		0			0
Fair Value | Level 1 | Recurring
U.S. Government and federally sponsored agency obligations:
Investments	26,598		26,598			27,738
Fair Value | Level 1 | Short-term investments
U.S. Government and federally sponsored agency obligations:
Investments	176,497		176,497			62,593
Fair Value | Level 1 | Mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 1 | Other, including U.S. Treasury securities
U.S. Government and federally sponsored agency obligations:
Investments	13,201		13,201			13,393
Fair Value | Level 1 | Municipal bonds
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 1 | Foreign government bonds
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 1 | Corporate bonds
U.S. Government and federally sponsored agency obligations:
Investments	13,397		13,397			14,345
Fair Value | Level 1 | Other mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 1 | Equity securities
U.S. Government and federally sponsored agency obligations:
Investments	80,236		80,236			82,208
Fair Value | Level 1 | Other investments
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 2
U.S. Government and federally sponsored agency obligations:
Investments	7,249,736		7,249,736			7,547,388
Financial Liabilities
Investment contract and life policy reserves, embedded derivatives	486		486			594
Other policyholder funds, embedded derivatives	0		0			0
Fair Value | Level 2 | Recurring
U.S. Government and federally sponsored agency obligations:
Investments	7,177,322		7,177,322			7,466,086
Fair Value | Level 2 | Short-term investments
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 2 | Mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	703,543		703,543			693,375
Fair Value | Level 2 | Other, including U.S. Treasury securities
U.S. Government and federally sponsored agency obligations:
Investments	769,022		769,022			722,015
Fair Value | Level 2 | Municipal bonds
U.S. Government and federally sponsored agency obligations:
Investments	1,777,590		1,777,590			1,843,925
Fair Value | Level 2 | Foreign government bonds
U.S. Government and federally sponsored agency obligations:
Investments	95,505		95,505			102,738
Fair Value | Level 2 | Corporate bonds
U.S. Government and federally sponsored agency obligations:
Investments	2,291,664		2,291,664			2,491,630
Fair Value | Level 2 | Other mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	1,539,998		1,539,998			1,612,403
Fair Value | Level 2 | Equity securities
U.S. Government and federally sponsored agency obligations:
Investments	50,538		50,538			53,252
Fair Value | Level 2 | Other investments
U.S. Government and federally sponsored agency obligations:
Investments	21,876		21,876			28,050
Fair Value | Level 3
U.S. Government and federally sponsored agency obligations:
Investments	271,651		271,651			230,257
Financial Liabilities
Investment contract and life policy reserves, embedded derivatives	0		0			0
Other policyholder funds, embedded derivatives	77,788		77,788			80,733
Fair Value | Level 3 | Recurring
U.S. Government and federally sponsored agency obligations:
Investments	271,645		271,645			230,251
Fair Value | Level 3 | Short-term investments
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 3 | Mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	3,781		3,781			3,350
Fair Value | Level 3 | Other, including U.S. Treasury securities
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 3 | Municipal bonds
U.S. Government and federally sponsored agency obligations:
Investments	49,921		49,921			49,328
Fair Value | Level 3 | Foreign government bonds
U.S. Government and federally sponsored agency obligations:
Investments	0		0			0
Fair Value | Level 3 | Corporate bonds
U.S. Government and federally sponsored agency obligations:
Investments	92,663		92,663			72,979
Fair Value | Level 3 | Other mortgage-backed securities
U.S. Government and federally sponsored agency obligations:
Investments	125,280		125,280			104,594
Fair Value | Level 3 | Equity securities
U.S. Government and federally sponsored agency obligations:
Investments	6		6			6
Fair Value | Level 3 | Other investments
U.S. Government and federally sponsored agency obligations:
Investments	$ 0		$ 0			$ 0

Fair Value of Financial Instr41

Fair Value of Financial Instruments - Rollforward of Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Financial Assets
Beginning balance	$ 243,868	$ 248,757	$ 230,257	$ 212,104
Transfers into Level 3	48,031	11,483	73,631	61,654
Transfers out of Level 3	(15,509)	(11,410)	(15,509)	(18,271)
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	(246)	(1,714)	(243)	(1,714)
Net unrealized investment gains (losses) included in other comprehensive income	1,356	4,739	(110)	5,935
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	(3)	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(5,849)	(5,350)	(16,372)	(13,203)
Ending balance	271,651	246,505	271,651	246,505
Financial Liabilities
Beginning balance	78,486	64,261	80,733	59,393
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Total gains or losses
Net realized gains (losses) included in net income related to financial liabilities	(1,291)	1,238	(3,513)	3,546
Net unrealized investment gains (losses) included in other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Issuances	2,107	3,397	3,439	6,786
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(1,514)	(901)	(2,871)	(1,730)
Ending balance	77,788	67,995	77,788	67,995
Short-term Investments
Financial Assets
Beginning balance	0	0	0	751
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	(751)
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0	0	0
Net unrealized investment gains (losses) included in other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	0	0	0	0
Ending balance	0	0	0	0
Total Fixed Maturity Securities
Financial Assets
Beginning balance	243,862	248,751	230,251	211,347
Transfers into Level 3	48,031	11,483	73,631	61,654
Transfers out of Level 3	(15,509)	(11,410)	(15,509)	(17,520)
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	(246)	(1,714)	(246)	(1,714)
Net unrealized investment gains (losses) included in other comprehensive income	1,356	4,739	(110)	5,935
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(5,849)	(5,350)	(16,372)	(13,203)
Ending balance	271,645	246,499	271,645	246,499
Municipal bonds
Financial Assets
Beginning balance	49,748	53,462	49,328	46,497
Transfers into Level 3	0	0	0	5,214
Transfers out of Level 3	0	(5,557)	0	(5,557)
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0	0	0
Net unrealized investment gains (losses) included in other comprehensive income	397	1,287	840	3,158
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(224)	(69)	(247)	(189)
Ending balance	49,921	49,123	49,921	49,123
Corporate bonds
Financial Assets
Beginning balance	78,780	82,495	72,979	60,191
Transfers into Level 3	29,709	2,001	40,487	31,919
Transfers out of Level 3	(11,279)	(5,853)	(11,279)	(11,963)
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	(246)	0	(246)	0
Net unrealized investment gains (losses) included in other comprehensive income	(700)	359	(1,587)	455
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(3,601)	(1,950)	(7,691)	(3,550)
Ending balance	92,663	77,052	92,663	77,052
Mortgage-Backed Securities
Financial Assets
Beginning balance	115,334	112,794	107,944	104,659
Transfers into Level 3	18,322	9,482	33,144	24,521
Transfers out of Level 3	(4,230)	0	(4,230)	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	(1,714)	0	(1,714)
Net unrealized investment gains (losses) included in other comprehensive income	1,659	3,093	637	2,322
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	(2,024)	(3,331)	(8,434)	(9,464)
Ending balance	129,061	120,324	129,061	120,324
Equity securities
Financial Assets
Beginning balance	6	6	6	6
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Total gains or losses
Net realized investment gains (losses) included in net income related to financial assets	0	0	3	0
Net unrealized investment gains (losses) included in other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	(3)	0
Settlements	0	0	0	0
Paydowns, maturities and distributions	0	0	0	0
Ending balance	$ 6	$ 6	$ 6	$ 6

Fair Value of Financial Instr42

Fair Value of Financial Instruments - Financial Instrument Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Level 1
Investments
Other investments	$ 0	$ 0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	0	0
Investment contract and life policy reserves, account values on life contracts	0	0
Other policyholder funds	0	0
Long-term debt	0	0
Level 2
Investments
Other investments	0	0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	0	0
Investment contract and life policy reserves, account values on life contracts	0	0
Other policyholder funds	575,928	575,622
Long-term debt	302,695	311,315
Level 3
Investments
Other investments	159,019	159,575
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,399,614	4,366,334
Investment contract and life policy reserves, account values on life contracts	89,761	88,620
Other policyholder funds	64,794	67,906
Long-term debt	0	0
Carrying Amount
Investments
Other investments	154,327	154,898
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,498,302	4,452,972
Investment contract and life policy reserves, account values on life contracts	84,163	82,911
Other policyholder funds	640,722	643,528
Long-term debt	297,603	297,469
Fair Value
Investments
Other investments	159,019	159,575
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts	4,399,614	4,366,334
Investment contract and life policy reserves, account values on life contracts	89,761	88,620
Other policyholder funds	640,722	643,528
Long-term debt	$ 302,695	$ 311,315

Fair Value of Financial Instr43

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Fair Value of Financial Instruments (Textual) [Abstract]
Net realized investment gains (losses) included in net income related to financial assets	$ 246	$ 1,714	$ 243	$ 1,714
Level 3
Fair Value of Financial Instruments (Textual) [Abstract]
Percentage of invested assets in total investment portfolio Level 3 recurring	3.30%		3.30%
Net realized investment losses	$ (1,291)	$ (1,238)	$ (3,513)	$ (3,546)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivatives in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Derivative instruments, included in Short-term and other investments	$ 9,376	$ 15,550
Short-term and other investments
Assets
Derivative instruments, included in Short-term and other investments	9,376	15,550
Other policyholder funds
Liabilities
FIA - embedded derivatives, included in Other policyholder funds	77,788	80,733
Investment contract and life policy reserves
Liabilities
IUL - embedded derivatives, included in Investment contract and life policy reserves	$ 486	$ 594

Derivative Instruments - Fair45

Derivative Instruments - Fair Value of Derivatives Included in Consolidated Statements of Operations (Details) - Revenues - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Change in fair value of derivatives:
Net investment gains (losses)	$ (2)	$ 1,729	$ (851)	$ 4,166
Change in fair value of embedded derivatives:
Net investment gains (losses)	$ 1,281	$ (1,295)	$ 3,569	$ (3,661)

Derivative Instruments - Notion

Derivative Instruments - Notional and Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional Amount	$ 258,600	$ 246,800
Fair Value	9,376	15,550
Bank of America, N.A.
Derivative [Line Items]
Notional Amount	105,100	85,100
Fair Value	5,195	6,320
Barclays Bank PLC
Derivative [Line Items]
Notional Amount	39,100	48,900
Fair Value	783	1,828
Citigroup Inc.
Derivative [Line Items]
Notional Amount	0	0
Fair Value	0	0
Credit Suisse International
Derivative [Line Items]
Notional Amount	11,000	21,100
Fair Value	324	1,444
Societe Generale
Derivative [Line Items]
Notional Amount	103,400	91,700
Fair Value	$ 3,074	$ 5,958

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Expected contract term	10 years
Maximum exposure	$ 250,000
Other liabilities
Derivatives, Fair Value [Line Items]
Fair value of collateral	$ 10,484,000	$ 15,584,000

Property and Casualty Unpaid 48

Property and Casualty Unpaid Claims and Claim Expenses - Summary of Reinsurance Reserve Balances (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Beginning Gross reserves				$ 347,749
Claims and claim expense payments for claims occurring during:
Ending Gross reserves	$ 379,833			379,833
Benefits, claims and settlement expenses	168,278	$ 165,879		311,840	$ 309,975
Property and Casualty
Segment Reporting Information [Line Items]
Beginning Gross reserves	331,255	316,173	$ 307,757	319,182	307,757
Less: reinsurance recoverables	62,917	61,804	61,199	57,409	61,199
Net reserves, beginning of year	268,338	254,369	246,558	261,773	246,558
Incurred claims and claim expenses:
Claims occurring in the current period	147,005	148,348		267,993	271,552
Decrease in estimated reserves for claims occurring in prior years	0	(600)		(300)	(1,600)
Total claims and claim expenses incurred	147,005	147,748		267,693	269,952
Claims and claim expense payments for claims occurring during:
Current period	80,403	95,645		127,451	148,025
Prior periods	45,006	35,538		112,081	97,551
Total claims and claim expense payments	125,409	131,183		239,532	245,576
Net reserves, end of year	289,934	270,934	254,369	289,934	270,934
Plus: reinsurance recoverables	62,883	58,897	61,804	62,883	58,897
Ending Gross reserves	352,817	329,831	316,173	352,817	329,831
Life and Annuity segments
Claims and claim expense payments for claims occurring during:
Net reserves, end of year	27,016	$ 22,682		27,016	22,682
Benefits, claims and settlement expenses	$ 21,273		$ 18,131	$ 44,147	$ 40,023

Property and Casualty Unpaid 49

Property and Casualty Unpaid Claims and Claim Expenses - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Insurance Loss Reserves [Abstract]
Favorable development of total reserves for property and casualty claims occurring in prior years	$ 300	$ 1,600

Debt - Summary of Indebtedness

Debt - Summary of Indebtedness (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Short-term debt:
Bank Credit Facility, expires June 27, 2023	$ 0	$ 0
Long-term debt:
Long-term debt	297,603,000	297,469,000
Debt and Capital Lease Obligations	297,603,000	297,469,000
Senior Notes 4.50% [Member]
Long-term debt:
Long-term debt	247,603,000	247,469,000
Unamortized discount	$ 518,000	547,000
Stated rate	4.50%
Face amount	$ 250,000,000
Unamortized debt issuance costs	1,879,000	1,984,000
Federal Home Loan Bank Advances [Member]
Long-term debt:
Long-term debt	$ 50,000,000	$ 50,000,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 27, 2018
Senior Notes 4.50% [Member]
Debt Instrument [Line Items]
Stated rate	4.50%
Line of Credit [Member]
Debt Instrument [Line Items]
Borrowing capacity		$ 150,000,000
Commitment fee percent	0.15%
Eurodollar [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Spread on rate	1.15%

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Gross Amount
Premiums written and contract deposits, Gross Amount	$ 305,864	$ 316,123	$ 594,680	$ 617,635
Premiums and contract charges earned, Gross Amount	209,892	200,351	417,629	400,806
Benefits, claims and settlement expenses, Gross Amount	170,459	168,218	322,427	315,489
Ceded to Other Companies
Premiums written and contract deposits, Ceded to Other Companies	5,483	5,643	10,997	11,153
Premiums and contract charges earned, Ceded to Other Companies	5,505	5,665	11,033	11,199
Benefits, claims and settlement expenses, Ceded to Other Companies	3,330	3,185	12,344	7,068
Assumed from Other Companies
Premiums written and contract deposits, Assumed from Other Companies	1,341	1,134	2,047	1,864
Premiums and contract charges earned, Assumed from Other Companies	1,223	1,032	2,012	1,833
Benefits, claims and settlement expenses, Assumed from Other Companies	1,149	846	1,757	1,554
Net Amount
Premiums written and contract deposits, Net Amount	301,722	311,614	585,730	608,346
Premiums and contract charges earned, Net Amount	205,610	195,718	408,608	391,440
Benefits, claims and settlement expenses, Net Amount	$ 168,278	$ 165,879	$ 311,840	$ 309,975

Commitments - Narrative (Detail

Commitments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments to purchase investments	$ 166,740	$ 106,381

Segment Information - Summary o

Segment Information - Summary of Segment Activity (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Reportable segments | segment			4
Operating segments | segment			3
Summarized financial information for these segments
Insurance premiums and contract charges earned	$ 205,610	$ 195,718	$ 408,608	$ 391,440
Net investment income	97,101	91,994	188,965	182,705
Net income (loss)	5,917	2,261	26,072	17,579
Assets	11,156,214		11,156,214		$ 11,198,340
Intersegment eliminations
Summarized financial information for these segments
Net investment income	(194)	(204)	(391)	(412)
Assets	(33,148)		(33,148)		(42,482)
Property and Casualty
Summarized financial information for these segments
Insurance premiums and contract charges earned	167,333	160,460	332,791	318,778
Property and Casualty | Operating segments
Summarized financial information for these segments
Net investment income	10,300	8,113	19,816	17,290
Net income (loss)	(10,896)	(13,956)	(1,174)	(11,221)
Assets	1,227,650		1,227,650		1,217,394
Retirement
Summarized financial information for these segments
Insurance premiums and contract charges earned	7,825	6,759	15,893	13,360
Retirement | Operating segments
Summarized financial information for these segments
Net investment income	67,787	65,139	131,956	128,581
Net income (loss)	14,141	11,800	25,562	23,330
Assets	8,033,572		8,033,572		8,063,912
Life
Summarized financial information for these segments
Insurance premiums and contract charges earned	30,452	28,499	59,924	59,302
Life | Operating segments
Summarized financial information for these segments
Net investment income	19,166	18,928	37,506	37,216
Net income (loss)	5,879	5,610	9,666	9,495
Assets	1,786,525		1,786,525		1,815,732
Corporate and Other
Summarized financial information for these segments
Net investment income	42	18	78	30
Net income (loss)	(3,207)	$ (1,193)	(7,982)	$ (4,025)
Assets	$ 141,615		$ 141,615		$ 143,784

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
TCJA effect on tax rate	9.20%