Lincoln Benefit Life POS AM 1 Apr 16 Prospectus update (post-effective amendment) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015
Document Information [Line Items]
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Entity Registrant Name	LINCOLN BENEFIT LIFE CO
Entity Central Index Key	910,739
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheet (Suc

Consolidated Balance Sheet (Successor) and Balance Sheet (Predecessor) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost $8,274,194 and $9,231,856)	$ 7,945,942	$ 9,390,647
Commercial mortgage loans	1,509,132	1,115,167
Policy loans	186,827	194,385
Short-term investments	184,820	361,369
Other invested assets	18,412	26,897
Total Investments	9,845,133	11,088,465
Cash	49,121	49,730
Accrued investment income	91,214	96,408
Reinsurance recoverable - non affiliates	5,984,458	5,694,965
Valuation of business acquired	247,702	231,521
Deposit receivable	1,250,328	1,383,388
Other assets	633,091	592,202
Current income tax	1,472
Deferred tax asset, net	65,040
Separate account assets	1,395,141	1,573,865
Total Assets	19,562,700	20,710,544
LIABILITIES
Future policy benefits and other policyholder liabilities	4,757,641	4,528,949
Policyholders' account balances	11,120,565	11,764,312
Accrued expenses and other liabilities	95,826	188,656
Modified coinsurance payable	1,250,328	1,383,388
Deferred tax liability		40,732
Other long-term debt - affiliate	608,700	551,600
Separate account liabilities	1,395,141	1,573,865
Total Liabilities	19,228,201	20,031,502
SHAREHOLDER'S EQUITY
Common stock, $100 par value, 30,000 shares authorized, 25,000 shares issued and outstanding	2,500	2,500
Additional paid-in capital	593,558	593,558
Accumulated other comprehensive income	(154,699)	85,498
Retained earnings (deficit)	(106,860)	(2,514)
Total Shareholder's Equity	334,499	679,042
Total Liabilities and Shareholder's Equity	$ 19,562,700	$ 20,710,544

Consolidated Balance Sheet (Su3

Consolidated Balance Sheet (Successor) and Balance Sheet (Predecessor) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fixed maturities, available-for-sale, amortized cost	$ 8,274,194	$ 9,231,856
Common stock, par value	$ 100	$ 100
Common stock, shares authorized	30,000	30,000
Common stock, shares issued	25,000	25,000
Common stock, shares outstanding	25,000	25,000

Consolidated Statement of Opera

Consolidated Statement of Operations and Comprehensive Income (Loss) (Successor) and Statements of Operations and Comprehensive Income (Loss)(Predecessor) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Revenues
Premiums earned		$ 20,384	$ 8,841
Fee income from policyholders		259,169	353,932
Net investment income		288,571	398,931
Realized investment gains, net		46,092	113,538
Total revenues		614,216	875,242
Expenses
Policyholders' Benefits		216,543	351,744
Return credited to policyholders' account balances		256,703	301,079
Operating and acquisition expenses		96,050	93,671
Total expenses		569,296	746,494
Income (Loss) Before Federal Income Tax		44,920	128,748
Federal Income Tax Expense (Benefit)
Current			22,528
Deferred		14,234	23,566
Total income tax expense		14,234	46,094
NET INCOME (LOSS)		30,686	82,654
Net unrealized investment gains (losses):
Unrealized investment gains (losses) for the period		131,433	(290,511)
Reclassification adjustment for (gains) losses included in net income			79,023
Net unrealized investment gains (losses)		131,433	(369,534)
Less: Income tax expense (benefit) related to:
Unrealized investment gains (losses) for the period		45,935	(101,679)
Reclassification adjustment for (gains) losses included in net income			(27,658)
Net unrealized investment gains (losses)		45,935	(129,337)
Other comprehensive (loss) income		85,498	(240,197)
Comprehensive (loss) income		$ 116,184	$ (157,543)
Predecessor
Revenues
Net investment income	$ 2,350			$ 10,935
Realized investment gains, net	285
Total revenues	2,635			10,935
Expenses
Income (Loss) Before Federal Income Tax	2,635			10,935
Federal Income Tax Expense (Benefit)
Current	914			3,902
Deferred	8			(77)
Total income tax expense	922			3,825
NET INCOME (LOSS)	1,713			7,110
Net unrealized investment gains (losses):
Unrealized investment gains (losses) for the period	2,364			(15,281)
Reclassification adjustment for (gains) losses included in net income	285			1
Net unrealized investment gains (losses)	2,079			(15,282)
Less: Income tax expense (benefit) related to:
Unrealized investment gains (losses) for the period	828			(5,349)
Reclassification adjustment for (gains) losses included in net income	(100)
Net unrealized investment gains (losses)	728			(5,349)
Other comprehensive (loss) income	1,351			(9,933)
Comprehensive (loss) income	$ 3,064			$ (2,823)

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity (Successor) and Statements of Shareholder's Equity (Predecessor) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance (Predecessor) at Dec. 31, 2012	$ 346,518	$ 2,500	$ 180,000	$ 150,215	$ 13,803
Balance, shares (Predecessor) at Dec. 31, 2012		25,000
Comprehensive income (loss)
Net income (loss) | Predecessor	7,110			7,110
Other comprehensive income (loss), net of tax | Predecessor	(9,933)				(9,933)
Total comprehensive income (loss) | Predecessor	(2,823)
Balance (Predecessor) at Dec. 31, 2013	343,695	$ 2,500	180,000	157,325	3,870
Balance, shares (Predecessor) at Dec. 31, 2013		25,000
Comprehensive income (loss)
Net income (loss) | Predecessor	1,713			1,713
Other comprehensive income (loss), net of tax | Predecessor	1,351				1,351
Total comprehensive income (loss) | Predecessor	3,064
Balance (Predecessor) at Mar. 31, 2014	346,759	$ 2,500	180,000	159,038	5,221
Balance at Mar. 31, 2014	595,808	$ 2,500	593,308
Balance, shares (Predecessor) at Mar. 31, 2014		25,000
Balance, shares at Mar. 31, 2014		25,000
Dividends to shareholder	(33,200)			(33,200)
Capital contribution	250		250
Comprehensive income (loss)
Net income (loss)	30,686			30,686
Other comprehensive income (loss), net of tax	85,498				85,498
Total comprehensive income (loss)	116,184
Balance at Dec. 31, 2014	$ 679,042	$ 2,500	593,558	(2,514)	85,498
Balance, shares at Dec. 31, 2014	25,000	25,000
Dividends to shareholder	$ (187,000)			(187,000)
Comprehensive income (loss)
Net income (loss)	82,654			82,654
Other comprehensive income (loss), net of tax	(240,197)				(240,197)
Total comprehensive income (loss)	(157,543)
Balance at Dec. 31, 2015	$ 334,499	$ 2,500	$ 593,558	$ (106,860)	$ (154,699)
Balance, shares at Dec. 31, 2015	25,000	25,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Successor) and Statements of Cash Flows (Predecessor) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)		$ 30,686	$ 82,654
Adjustments to reconcile net income to net cash:
Policy charges and fee income		(259,169)	(353,932)
Interest credited		256,703	301,079
Realized Investment gains, net		(46,092)	(113,538)
Amortization/Accretion of bond premium, net		44,112	44,701
Amortization of VOBA		38,987	40,880
Changes in assets and liabilities:
Decrease (increase) in insurance related liabilities and policy-related balances		(21,964)	(24,884)
Deferred income tax expense (benefit)		14,234	23,566
Decrease (increase) in accrued investment income		6,838	5,194
Decrease (increase) in other assets and liabilities		31,780	(27,417)
Net cash provided by (used in) operating activities		96,115	(34,145)
Cash flows from investing activities:
Fixed maturities, available for sale Proceeds from sales and maturities		1,844,344	4,739,792
Fixed maturities, available for sale, Purchases		(1,898,874)	(3,703,237)
Commercial mortgage loans, proceeds from sales and paydowns		150,849	164,658
Commercial mortgage loans, originations and purchases			(559,110)
Net purchases, sales, maturities of derivatives		(8,636)	(1,379)
Net purchases, sales, maturities of other investments		620,425	184,107
Net cash provided by (used in) investing activities		708,108	824,831
Cash flows from financing activities:
Policyholders' account deposits		340,128	356,916
Policyholders' account withdrawals		(1,141,289)	(922,215)
Dividends paid to shareholder		(33,200)	(187,000)
Change in overdrafts		39,089	(38,996)
Capital contribution		250
Net cash provided by (used in) financing activities		(795,022)	(791,295)
Net increase (decrease) in cash and cash equivalents		9,201	(609)
Cash and cash equivalents, beginning of period		40,529	49,730
Cash and cash equivalents, end of period	$ 40,529	49,730	49,121
Supplemental schedule of cash flow information:
Cash received		9,201	(609)
Income taxes paid			24,000
Interest paid		4,585	6,671
Noncash activities
Issuance of vehicle note		513,000
Issuance of other long-term debt		513,000
Interest income on vehicle note		15,711
Interest expense on other long-term debt		15,711
Increase in vehicle note and other long-term debt		38,600
Increase in modified coinsurance payable and deposit receivable		166,963
Scenario, Adjustment
Adjustments to reconcile net income to net cash:
Realized Investment gains, net			$ (125,986)
Predecessor
Cash flows from operating activities:
Net income (loss)	1,713			$ 7,110
Adjustments to reconcile net income to net cash:
Realized Investment gains, net	(285)
Amortization/Accretion of bond premium, net	94			630
Changes in assets and liabilities:
Decrease (increase) in insurance related liabilities and policy-related balances	6,402			(6,147)
Decrease (increase) in receivable from/payable to affiliate	24,358			(17,255)
Deferred income tax expense (benefit)	921			(329)
Decrease (increase) in other assets and liabilities	(23,192)			16,007
Net cash provided by (used in) operating activities	10,011			16
Cash flows from investing activities:
Fixed maturities, available for sale Proceeds from sales and maturities	21,341			62,645
Fixed maturities, available for sale, Purchases				(38,896)
Net purchases, sales, maturities of other investments	55,924			(31,738)
Net cash provided by (used in) investing activities	77,265			(7,989)
Cash flows from financing activities:
Net increase (decrease) in cash and cash equivalents	87,276			(7,973)
Cash and cash equivalents, beginning of period	5,100	$ 92,376		13,073
Cash and cash equivalents, end of period	92,376			5,100
Supplemental schedule of cash flow information:
Cash received	87,276			(7,973)
Income taxes paid	0			$ 4,200
Invested assets transferred	11,482,637
Predecessor | On April 1, 2014
Cash flows from financing activities:
Net increase (decrease) in cash and cash equivalents	143,348
Supplemental schedule of cash flow information:
Cash received	143,348
Predecessor | Subsequent to April 1, 2014
Cash flows from financing activities:
Net increase (decrease) in cash and cash equivalents	5,946
Supplemental schedule of cash flow information:
Cash received	$ 5,946

General

General	12 Months Ended
	Dec. 31, 2015
General	1. General Lincoln Benefit Life Company (the “Company” or “Lincoln Benefit”) is a stock insurance company domiciled in the State of Nebraska. It is a wholly owned subsidiary of Resolution Life, Inc. (“Resolution”), which in turn is a wholly owned subsidiary of Resolution Life Holdings, Inc. (“Holdings”). Resolution was formed on July 2, 2013 under the General Corporation Law of the State of Delaware. On April 1, 2014, Lancaster Re Captive Insurance Company (“Lancaster Re”), a Nebraska domiciled captive insurance company, became a wholly owned subsidiary of Lincoln Benefit when it was contributed to Lincoln Benefit by Resolution. The Company became a wholly owned subsidiary of Resolution on April 1, 2014 after receiving all required regulatory approvals. Prior to this date, it was a wholly owned subsidiary of Allstate Life Insurance Company (“ALIC”). On July 17, 2013, Holdings executed a Stock Purchase Agreement (the “Purchase Agreement”) to acquire 100% of the Company from ALIC (the “Acquisition”). In November 2013, Holdings assigned the right to acquire all of Lincoln Benefit’s outstanding capital stock to Resolution pursuant to an Assignment Agreement. The purchase price was $595.8 million. The Company is authorized to sell life insurance and retirement products in all states except New York, as well as in the District of Columbia, the U.S. Virgin Islands and Guam. Prior to July 18, 2013, the Company sold interest-sensitive, traditional and variable life insurance products through both exclusive agencies (“Allstate Financial Sales channel”) and independent master brokerage agencies. Effective July 17, 2013, sales through the independent master brokerage agencies ceased, and sales through the Allstate Financial sales channel will continue for a period up to 30 months after the closing date of Acquisition. We operate as a single segment entity, based on the manner in which we use financial information to evaluate business performance and to determine the allocation of resources. On April 1, 2014, immediately prior to the Acquisition, the Company, pursuant to a Partial Commutation Agreement, recaptured all deferred annuity, long-term care, accident and health and life business sold through Lincoln Benefit’s independent master brokerage agencies, other than specified life business, previously reinsured by ALIC. The primary impacts of the Partial Commutation Agreement with ALIC were the receipt of investments, the reduction of the related reinsurance recoverable and the reestablishment of deferred acquisition costs. The Company’s assets and liabilities increased by $1.33 billion and $0.19 billion, respectively. Since the Partial Commutation Agreement occurred between entities under common control, the excess of assets received and liabilities assumed was recorded as a capital contribution through additional paid-in capital. Additionally, Lincoln Benefit and ALIC entered into an Amended and Restated Reinsurance Agreement where ALIC continues to reinsure all life insurance business written by Lincoln Benefit through the Allstate Financial Sales channel, all immediate annuities written by Lincoln Benefit prior to closing of the Acquisition, and certain term life policies written by Lincoln Benefit. Lincoln Benefit’s variable annuity business will remain reinsured by ALIC under an existing reinsurance agreement between Lincoln Benefit and ALIC. This business will continue to be administered by ALIC under an existing administrative services agreement between Lincoln Benefit and ALIC. As part of the Acquisition, ALIC has agreed to indemnify the Company for certain matters. ALIC has also agreed to indemnify the Company for certain litigation, regulatory matters and other liabilities related to the pre-closing activities of the transferred business. Under the acquisition method of accounting, the assets acquired and liabilities assumed are recorded at fair value at the date of acquisition. The following table summarizes the fair values of assets acquired and liabilities assumed as of April 1, 2014: ($ in thousands) Assets Fixed maturities $ 9,194,903 Commercial mortgage loans 1,263,902 Policy loans 196,451 Short-term investments 979,728 Other invested assets 1,104 Cash 40,529 Accrued investment income 103,246 Reinsurance recoverable 5,606,879 Value of business acquired 290,795 Deposit receivable 1,550,351 Intangibles 5,200 Other assets 554,176 Separate account assets 1,661,007 Total assets acquired 21,448,271 Liabilities Future policy benefits and other policyholder liabilities 6,682,833 Policyholders’ account balances 10,367,246 Accrued expenses and other liabilities 78,026 Modified coinsurance payable 1,550,351 Other long-term debt — affiliate 513,000 Separate account liabilities 1,661,007 Total liabilities assumed 20,852,463 Net assets acquired $ 595,808 Included in the assets acquired is the value of business acquired (“VOBA”), which reflects the estimated fair value of in-force contracts acquired and represents the portion of the purchase price that is allocated to the future profits embedded in the acquired contracts at the acquisition date. See Note 11 for further explanation of VOBA. The assessment of fair value in accordance with ASC 805-20-25 included the establishment of intangible assets for VOBA and various state licenses. Basis of Presentation The Company’s financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The financial statements are presented for Successor and Predecessor periods, which relate to the accounting periods after and before April 1, 2014, respectively, the date of the closing of the Acquisition. For periods after April 1, 2014, the accompanying financial statements comprise the consolidated financial statements of the Company, which include the accounts of the Company and its subsidiary. Due to the Acquisition and the application of push-down accounting, different bases of accounting have been used to prepare the Predecessor and Successor financial statements. A black line separates the Predecessor and Successor financial statements to highlight the lack of comparability between these two periods. The principal accounting policies applied in the preparation of these financial statements are set out below and in Note 2. Consolidation The accompanying consolidated financial statements of the Successor include the accounts of Lincoln Benefit and its subsidiary, Lancaster Re. All significant intercompany balances and transactions have been eliminated on consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies	2. Significant Accounting Policies Cash Cash includes cash on hand, amounts due from banks, money market securities, highly liquid overnight deposits, discount notes and commercial paper held in the ordinary course of business and other debt instruments with maturities of three months or less when purchased. Investments Fixed maturities include bonds, asset-backed securities (“ABS”) residential mortgage-backed securities (“RMBS”) and commercial mortgage-backed securities (“CMBS”). Fixed maturities, which may be sold prior to their contractual maturity, are designated as available-for-sale (“AFS”) and are carried at fair value. The difference between amortized cost and fair value, net of deferred income taxes, is reflected as a component of accumulated other comprehensive income. Cash received from calls, principal payments and make-whole payments and cash received from maturities and pay-downs are reflected as a component of proceeds from sales and maturities within the Consolidated Statement of Cash Flows — Successor and Statement of Cash Flows — Predecessor. The Company recognizes other-than-temporary impairments (“OTTI”) for securities classified as AFS in accordance with ASC 320, Investments-Debt and Equity Securities If the Company intends to sell or if it is more likely than not that it will be required to sell an impaired security prior to recovery of its cost basis, then the Company recognizes a charge to earnings for the full amount of the impairment (the difference between the amortized cost and fair value of the security). For fixed maturity securities that are considered OTTI and that the Company does not intend to sell and will not be required to sell, the Company separates the impairment into two components: credit loss and noncredit loss. Credit losses are charged to net realized investment losses and noncredit losses are charged to other comprehensive income. The credit loss component is the difference between the security’s amortized cost and the present value of its expected future cash flows discounted at the current effective rate. The remaining difference between the security’s fair value and the present value of its expected future cash flows is the noncredit loss. For corporate bonds, historical default (by rating) data is used as a proxy for the probability of default, and loss given default (by issuer) projections are applied to the par amount of the bond. Potential losses incurred on structured securities are based on expected loss models rather than incurred loss models. Expected cash flows include assumptions about key systematic risks (e.g., unemployment rates, housing prices) and loan-specific information (e.g., delinquency rates, loan-to-value ratios). Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third parties, along with assumptions and judgments about the future performance of the underlying collateral. Commercial mortgage loans (“CMLs”) acquired at fair value are carried at amortized cost using the effective interest rate method. CMLs held by the Company are diversified by property type and geographic area throughout the U.S. CMLs are considered impaired when it is probable that the Company will not collect amounts due according to the terms of the original loan agreement. The Company assesses the impairment of loans individually for all loans in the portfolio. The Company estimates the fair value of the underlying collateral using internal valuations generally based on discounted cash flow analyses. The Company estimates an allowance for loan and lease losses (“ALLL”) representing potential credit losses embedded in the CML portfolio. The estimate is based on a consistently applied analysis of the loan portfolio and takes into consideration all available information, including industry, geographical, economic and political factors. Policy loans represent loans the Company issues to policyholders. Policy loans are carried at unpaid principal balances. Interest income on such loans is recognized as earned using the contractually agreed upon interest rate and reflected in Net investment income in the Consolidated Statement of Operations and Comprehensive Income (Loss). Generally, interest is capitalized on the associated policy’s anniversary date. Short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at the time of purchase and are stated at estimated fair value or amortized cost, which approximates fair value. Derivatives As part of the Company’s overall risk management policy, the Company uses listed options and exchange traded futures to economically hedge its obligation under certain fixed indexed annuity and universal life contracts. Derivative financial instruments utilized by the Company during the year ended December 31, 2015 and in the period from April 1, 2014 through December 31, 2014 (the “Successor Period”) included index option contracts and futures contracts. Derivatives are carried in the Company’s Consolidated Balance Sheet either as assets within Other invested assets or as liabilities within Accrued expenses and other liabilities at estimated fair value. The Company offsets the fair value amounts recognized for derivatives executed with the same counterparty under the same master netting agreement. Accruals on derivatives are generally recorded in accrued investment income or within other liabilities. However, accruals that are not scheduled to settle within one year are included with the derivatives carrying value in other invested assets or other liabilities. If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the estimated fair value of the derivative are reported in realized investment gains, net in the Consolidated Statement of Operations and Comprehensive Income (Loss). The notional amounts specified in the contracts are used to calculate contractual payments under the agreements and are generally not representative of the potential for gain or loss on these contracts. Futures contracts are defined as commitments to buy or sell designated financial instruments based on specified prices, yields or indexes. Futures contracts provide returns at specified or optional dates based upon a specified index or interest rate applied to a notional amount. The Company uses futures to hedge exposures in indexed annuity and life contracts. Daily cash settlement of variation margins is required for futures contracts and is based on the changes in daily prices. The final settlement of futures contracts is in cash. Index option contracts provide returns at specified or optional dates based on a specified equity index applied to the option’s notional amount. The Company purchases and writes (sells) option contracts primarily to reduce market risk associated with certain annuity and life contracts. When the Company purchases/sells option contracts at specific prices, it is required to pay/receive a premium to/from the counterparties. The amount of premium paid/received is based on the number of contracts purchased/sold, the specified price and the maturity date of the contract. The Company receives/pays cash equal to the premium of written/purchased options when the contract is established. If the option is exercised, the Company receives/pays cash equal to the product of the number of contracts and the specified price in the contract in exchange for the equity upon which the option is written/purchased. If the options are not exercised, then no additional cash is exchanged when the contract expires. Premiums paid are reported as a derivative asset and premiums received are reported as a derivative liability. Purchased put and call index option contracts are cash settled upon exercise and the gain or loss on the settlement is reported in net investment income. If the purchased option contract expires without being exercised, the premiums paid are reported as net investment income and the corresponding asset previously recorded is reversed. The change in the fair value of written option contracts is reported in Realized investment gains, net, with an adjustment to a corresponding liability. Written call index option contracts are cash settled upon exercise and the gain or loss on settlement is reported in Realized investment gains, net. The Company has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value. The Company’s embedded derivatives are equity options in life and annuity product contracts, which provide equity returns to contractholders, guaranteed minimum accumulation and withdrawal benefits in variable annuity contracts. The Company has reinsurance agreements to transfer all the risk related to guarantee minimum income, accumulation and withdrawal benefits in variable annuity contracts to third party reinsurers. None of these derivatives are designated as accounting hedging instruments and all are gross liabilities reported in policyholder account balances or future policy benefits and other policyholder liabilities. Investment Income and Realized Gains and Losses Investment income primarily consists of interest and is recognized on an accrual basis using the effective yield method. Interest income for RMBS and CMBS is determined considering estimated pay-downs, including prepayments, obtained from third party data sources and internal estimates. Actual prepayment experience is periodically reviewed and effective yields are recalculated when differences arise between the prepayments originally anticipated and the actual prepayments received. For RMBS and CMBS of high credit quality with fixed interest rates, the effective yield is recalculated on a retrospective basis. For all others, the effective yield is recalculated on a prospective basis. Accrual of income is suspended for other-than-temporarily impaired fixed maturities when the timing and amount of cash flows expected to be received is not reasonably estimable. It is the Company’s policy to cease to carry accrued interest on commercial mortgage loans that are over 90 days delinquent. The Company held no non-income producing investments as of December 31, 2015 or December 31, 2014. Realized investment gains and losses net include gains and losses on investment sales and write-downs in value due to other-than-temporary declines in fair value. Realized capital gains and losses on investment sales, including principal payments, are determined on a specific identification basis. Recognition of Premium Revenues and Fees, and Related Policyholders’ Benefits and Interest Credited Prior to April 1, 2014 or the periods prior to April 1, 2014 (the “Predecessor Periods”), the Company had reinsurance agreements whereby all premiums, fee income from policyholders and returns credited to policyholders, policyholder benefits and substantially all expenses were ceded to ALIC and other reinsurers. Amounts reflected in the Statements of Operations and Comprehensive Income (Loss) are presented net of reinsurance. Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products. Premiums from these products are recognized as revenue when due from policyholders. Surrender values on traditional life and death benefits are reflected in policyholder benefits. Immediate annuities with life contingencies provide insurance protection over a period that extends beyond the period during which premiums are collected. Premiums from these products are recognized as revenue when received at the inception of the contract. Benefits and expenses are recognized in relation to premiums. As of April 1, 2014, the Company has reinsurance agreements to transfer all the risk related to immediate annuities existing as of or prior to the Acquisition Date. Interest-sensitive life contracts, such as universal life and single premium life, are insurance contracts whose terms are not fixed and guaranteed. The terms that may be changed include premiums paid by the policyholder, interest credited to the policyholder account balance and contract charges assessed against the policyholder account balance. Premiums from these contracts are reported as policyholder account balances. Fee income from policyholders consist of fees assessed against the policyholder account balance for the cost of insurance (mortality risk), contract administration and surrender of the policy prior to contractually specified dates. These charges are recognized as revenue when assessed against the policyholder account balance. Policyholder benefits include life-contingent benefit payments in excess of the policyholder account balance. Contracts that do not subject the Company to significant risk arising from mortality or morbidity are referred to as investment contracts. Fixed annuities, including market value adjusted annuities, equity-indexed annuities and immediate annuities without life contingencies, are considered investment contracts. Consideration received for such contracts is reported as policyholder account balance deposits. Policy fees for investment contracts consist of fees assessed against the contractholder account balance for maintenance, administration and surrender of the contract prior to contractually specified dates, and are recognized when assessed against the policyholder account balance. Return credited to policyholder funds represents interest accrued or paid on interest-sensitive life and investment contracts. Crediting rates for certain fixed annuities and interest-sensitive life contracts are adjusted periodically by the Company to reflect current market conditions subject to contractually guaranteed minimum rates. Crediting rates for indexed life and annuities are generally based on an equity index, such as the Standard & Poor’s (“S&P”) 500 Index. Policy charges for variable life and variable annuity products consist of fees assessed against the policyholder account balances for contract maintenance, administration, mortality, expense and surrender of the contract prior to contractually specified dates. Policy benefits incurred for variable life and variable annuity products include guaranteed minimum death, income, withdrawal and accumulation benefits. The Company incurs costs in connection with renewal insurance business. All acquisition-related costs, including commissions, as well as all indirect costs, are expensed as incurred and reported in Other expenses on the Consolidated Statement of Operations and Comprehensive Income (Loss) for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014. Reinsurance Reinsurance accounting is applied for ceded and assumed transactions when the risk transfer provisions of ASC 944-40, Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts With respect to ceded reinsurance, the Company values reinsurance recoverables on reported claims at the time the underlying claim is recognized in accordance with contract terms. For future policy benefits, the Company estimates the amount of reinsurance recoverables based on the terms of the reinsurance contracts and historical reinsurance recovery information. The reinsurance recoverables are based on what the Company believes are reasonable estimates and the balance is reported as an asset in the Consolidated Balance Sheets (Successor). However, the ultimate amount of the reinsurance recoverable is not known until all claims are settled. Reinsurance contracts do not relieve the Company from its obligations to policyholders, and failure of reinsurers to honor their obligations could result in losses to the Company; consequently, allowances are established for amounts deemed uncollectible. In the Predecessor periods, or the periods prior to April 1, 2014, the Company had reinsurance agreements whereby all insurance risks represented by premiums, fee income from policyholders, returns credited to policyholder account balances, policyholder benefits and substantially all expenses were ceded to ALIC and other reinsurers. Additionally, investment income earned on the assets that supported policyholder account balances and future policy benefits and other policyholder funds were not included in the Company’s financial statements, as those assets were owned and managed by ALIC and other reinsurers under the terms of the reinsurance agreements. Value of Business Acquired (“VOBA”) For interest-sensitive life products, VOBA is amortized over the life of the policies in relation to the emergence of estimated gross profits (“EGP’s”) from margins on mortality, interest, expenses, and surrenders, all of which are net of reinsurance and include actual realized gains and losses on investments. For non-interest sensitive life products, such as term life insurance, VOBA is amortized in relation to premium. VOBA is reviewed periodically for loss recognition to ensure that the unamortized balance is recoverable from future earnings from the business. The carrying amount of VOBA is adjusted for the effects of realized and unrealized gains and losses on debt securities classified as AFS. Separate Accounts Separate accounts assets are carried at fair value. The assets of the separate accounts are legally segregated and available only to settle separate account contract obligations. Separate accounts liabilities represent the contractholders’ claims to the related assets and are carried at an amount equal to the separate accounts assets. Investment income and realized capital gains and losses of the separate accounts accrue directly to the contractholders, and therefore are not included in the Company’s Consolidated Statement of Operations and Comprehensive Income (Successor) or Statements of Operations and Comprehensive Income (Predecessor). Deposits to and surrenders and withdrawals from the separate accounts are reflected in separate accounts liabilities and are not included in cash flows. Absent any contract provision wherein the Company provides a guarantee, variable annuity and variable life insurance contractholders bear the investment risk that the separate accounts’ funds may not meet their stated investment objectives. Future Policy Benefits and Other Policyholder Liabilities Policy liabilities are established for future policy benefits on certain annuity, life, and long term care policies. Such liabilities are established in amounts adequate to meet the estimated future obligations of policies in-force. Changes in policy and contract claims are recorded in policyholder benefits in the Consolidated Statements of Operations and Comprehensive Income (Loss). For ASC 944-20 products, benefit reserves are computed using the net level premium method for individual life, annuity and long-term care policies, and are based upon estimates as to future investment yield, mortality and lapse that include provisions for adverse deviation that were prevalent at the time the reserve was initially established. Mortality, morbidity and lapse assumptions for all policies are based on the Company’s own experience and industry standards. Liabilities for outstanding claims and claims adjustment expenses are estimates of payments to be made on life and health insurance contracts for reported claims and claims adjustment expenses. A liability is also held for claims adjustment expenses incurred but not reported as of the balance sheet date. These liabilities are determined using case basis evaluations and statistical analyses and represent estimates of the ultimate cost of all claims incurred but not paid. These estimates are continually reviewed and adjusted as necessary. Such adjustments are reflected in current operations. Future policy benefit reserves for fixed indexed annuity policies with returns linked to the performance of a specified market index are equal to the excess of the sum of the fair value of the embedded derivative and the host (or guaranteed) component over the policyholder account balance. The change in the fair value of the embedded derivative is linked to the performance of the equity option. The host value is established as of the date of acquisition and is equal to the account value, plus the value of the unexpired options at the date of acquisition, less the embedded derivative, and accreted over the policy’s life at a constant rate of interest. The Company holds additional liabilities for its no lapse guarantees (associated with universal life) and guaranteed minimum withdrawal benefits (associated with fixed indexed annuities). These are accounted for in accordance with ASC 944-20, Financial Services — Insurance Activities Policy liabilities and accruals are based on the various estimates discussed above. Although the adequacy of these amounts cannot be assured, the Company believes that policy liabilities and accruals will be sufficient to meet future obligations of policies in-force. The amount of liabilities and accruals, however, could be revised if the estimates discussed above are revised. Policyholders’ Account Balances Policyholder account balances represent interest-bearing liabilities arising from the sale of products such as interest-sensitive life insurance and fixed annuities. Policyholder funds primarily comprise cumulative deposits received and interest credited to the contractholder less cumulative contract benefits, surrenders, withdrawals and contract charges for mortality or administrative expenses. Future policy benefits reserves for the portion of fixed indexed annuities earning a fixed rate of interest, and other deferred annuity products are computed under a retrospective deposit method and represent policyholders’ account balances before applicable surrender charges. The prior year amount of $1.9 billion has been reclassified from Future Policy Benefits and Other Policyholder Liabilities to Policyholders’ Account Balances to conform with the current year presentation. The Company holds additional liabilities for guaranteed minimum income benefits (“GMIB”) associated with variable annuities, which are accounted for in accordance with ASC 944-20, Financial Services — Insurance Activities Income Taxes — Successor Income taxes are provided for using the asset and liability method under which deferred tax assets and liabilities are recognized for temporary differences between the financial statement and income tax bases of assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The realizability of deferred tax assets is assessed at each reporting date and a deferred tax asset valuation allowance is established when there is uncertainty that such assets will be realized. Tax positions are assessed under a two-step approach, which requires the assessment of recognition and measurement. The Company reports interest expense related to income tax matters and tax penalties in other operating expenses in the Consolidated Statement of Operations and Comprehensive Income (Loss). Income Taxes — Predecessor The income tax provision is calculated under the liability method. Deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax bases of assets and liabilities at the enacted tax rates. The principal assets and liabilities giving rise to such differences are unrealized capital gains and losses, accrued expenses and reinsurance recoverables. A deferred tax asset valuation allowance is established when there is uncertainty that such assets will be realized. Other Long-Term Debt Effective April 1, 2014, and with Nebraska Department of Insurance (the “NE DOI” or the “Department of Insurance”) approval, Lancaster Re issued a variable funding Surplus Note (the “Surplus Note”) to its affiliate, Lanis, LLC. for $513 million and acquired from Lanis a Vehicle Note (the “Vehicle Note”) for $513 million. The Vehicle Note is held to support a portion of Lancaster Re’s reinsurance obligations and has been authorized as an acceptable form of reinsurance collateral pursuant to Nebraska Rev. Stat. §44-8216(8)(c)(i) which allows a special purpose financial captive insurer to establish any method of security that the Department deems acceptable. The scheduled maturity date of the Vehicle Note is April 1, 2034, and the scheduled maturity date of the Surplus Note is April 1, 2039, although each may be cancelled earlier or extended under certain conditions. The Surplus Note does not repay principal prior to maturity and principal payment at maturity is subject to the prior approval of the Department of Insurance. With pre-approval, the Surplus Note is increased each quarter with a corresponding increase in the Vehicle Note. With Department pre-approval, interest on the Surplus Note for the prior quarter is paid on the first day of each subsequent quarter at a rate consistent with the rate received on the Vehicle Note of 4%. The Surplus Note and Vehicle Note increased by $57.1 million and $38.6 million in the Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. Interest expense of $22.9 million and $15.7 million was recognized in the Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. The Surplus Note is unsecured and subordinated to all present and future indebtedness, policy claims and other creditor claims of Lancaster Re. Other Assets and Accrued Expenses and Other Liabilities Other assets consist primarily of premiums due, intangible assets, the Vehicle Note and receivables resulting from sales of securities that had not yet settled at the balance sheet date. Other liabilities consist primarily of accrued expenses, technical overdrafts, derivatives, and payables resulting from purchases of securities that had not yet been settled at the balance sheet date. Reclassifications Certain prior year amounts have been reclassified to conform with the current year financial statement presentation. Adoption of New Accounting Pronouncements In February 2013, the Financial Accounting Standards Board issued guidance requiring expanded disclosures about the amounts reclassified out of accumulated other comprehensive income by component. The guidance requires the presentation of significant amounts reclassified out of accumulated other comprehensive income by income statement line item, but only if the amount reclassified is required under accounting principles generally accepted in the United States of America (“GAAP”) to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, cross-reference to other disclosures that provide additional detail about those amounts is required. The Company adopted the new guidance in 2013. The new guidance affects disclosures only and therefore had no impact on the Company’s results of operations or financial position. Effective November 18, 2014, the Company adopted new guidance on when, if ever, the cost of acquiring an entity should be used to establish a new accounting basis (“pushdown”) in the acquired entity’s separate financial statements. The guidance provides an acquired entity and its subsidiaries with an irrevocable option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. If a reporting entity elects to apply pushdown accounting, its stand-alone financial statements would reflect the acquirer’s new basis in the acquired entity’s assets and liabilities. The election to apply pushdown accounting should be determined by an acquired entity for each individual change-in-control event in which an acquirer obtains control of the acquired entity; however, an entity that does not elect to apply pushdown accounting in the period of a change-in-control can later elect to retrospectively apply pushdown accounting to the most recent change-in-control transaction as a change in accounting principle. The Company has applied pushdown accounting as a result of the Acquisition in the Successor Period, as disclosed in Note 1. In January 2014, the FASB issued updated guidance for troubled debt restructurings clarifying when an in substance repossession or foreclosure occurs, and when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014. This guidance can be elected for prospective adoption or by using a modified retrospective transition method. The adoption of this new guidance in 2015 did not have a material impact on the Company’s consolidated financial position, results of operations or financial statement disclosures. In May 2014, the FASB issued a comprehensive new revenue recognition standard effective for fiscal years beginning after December 15, 2016 and interim periods within those years and should be applied retrospectively. In August 2015, the FASB amended the guidance to defer the effective date by one year, effective for the fiscal years beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new guidance will supersede nearly all existing revenue recognition guidance under GAAP; however, it will not impact the accounting for insurance contracts, leases, financial instruments and guarantees. For those contracts that are impacted by the new guidance, the guidance will require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled, in exchange for those goods or services. The Company is currently assessing the impact of the guidance on the Company’s consolidated financial position, results of operations and financial statement disclosures. In August 2014, the FASB issued guidance requiring that mortgage loans be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position, results of operations or financial statement disclosures. In February 2015, the FASB issued updated guidance regarding consolidation. The pronouncement eliminates specialized guidance for limited partnerships and similar legal entities, and removes the indefinite deferral for certain investment funds. The new guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. This guidance is not expected to have a significant effect on the Company’s consolidated financial position, results of operations or financial statement disclosures. In May 2015, the FASB issued new guidance on short-duration insurance contracts. The amendments in this new guidance are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. The new guidance should be applied retrospectively by providing comparative disclosures for each period presented, except for those requirements that apply only to the current period. The new guidance requires insurance entities to provide users of financial statements with more transparent information about initial claim estimates and subsequent adjustments to these estimates, including information on: (i) reconciling from the claim development table to the balance sheet liability; (ii) methodologies and judgments in estimating claims; and (iii) the timing, and frequency

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Investments	3. Investments The amortized cost, gross unrealized gains and losses and fair value for fixed maturities as of December 31, 2015 and 2014 were as follows: December 31, 2015 — Successor ($ in thousands) Amortized Gross Gross Fair Value Fixed maturities U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 163,096 $ 5,563 $ (81 ) $ 168,578 Obligations of U.S. States and Political Subdivisions 712,948 14,827 (7,018 ) 720,757 Foreign government 72,042 202 (10,601 ) 61,643 Corporate securities 6,060,561 31,263 (353,149 ) 5,738,675 ABS 542,503 2,517 (8,229 ) 536,791 CMBS 513,316 627 (7,244 ) 506,699 RMBS 209,728 4,600 (1,529 ) 212,799 Total fixed maturities $ 8,274,194 $ 59,599 $ (387,851 ) $ 7,945,942 December 31, 2014 — Successor ($ in thousands) Amortized Gross Gross Fair Value Fixed maturities U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 287,077 $ 20,933 $ (58 ) $ 307,952 Obligations of U.S. States and Political Subdivisions 517,378 26,888 (531 ) 543,735 Foreign government 250,008 5,637 (437 ) 255,208 Corporate securities 7,279,391 132,481 (34,127 ) 7,377,745 ABS 378,906 6,145 (2,408 ) 382,643 CMBS 331,041 3,507 (1,065 ) 333,483 RMBS 188,055 2,849 (1,023 ) 189,881 Total fixed maturities $ 9,231,856 $ 198,440 $ (39,649 ) $ 9,390,647 Scheduled Maturities — Successor The scheduled maturities for fixed maturities are as follows as of December 31, 2015: ($ in thousands) Amortized Fair Value Due in one year or less $ 190,261 $ 189,547 Due after one year through five years 1,461,237 1,459,059 Due after five years through ten years 2,148,851 2,092,046 Due after ten years 3,208,298 2,949,002 Total before asset and mortgage-backed securities 7,008,647 6,689,654 Asset and mortgage-backed securities 1,265,547 1,256,288 Total fixed maturities $ 8,274,194 $ 7,945,942 Actual maturities may differ from those scheduled as a result of calls and make-whole payments by the issuers. Asset and mortgage-backed securities are shown separately because of the potential for prepayment of principal prior to contractual maturity dates. Commercial Mortgage Loans — Successor The Company diversifies its commercial mortgage loan portfolio by geographical region to reduce concentration risk. The following table presents the Company’s commercial mortgage loan portfolio by geographical region as of December 31, 2015 and December 31, 2014: ($ in thousands) December 31, December 31, Alabama $ 1,508 $ 1,720 Arizona 34,911 35,481 California 336,310 255,563 Colorado 57,207 22,381 Connecticut 25,374 — Florida 86,698 20,779 Georgia 67,213 27,502 Hawaii 7,134 8,125 Illinois 92,813 53,174 Iowa 1,266 1,490 Kansas 9,200 — Kentucky 7,696 8,260 Maine 3,905 4,114 Maryland 33,844 35,536 Massachusetts 90,897 92,963 Minnesota 148,346 52,496 Missouri — 9,324 Nevada 14,262 14,705 New Jersey 68,720 84,007 New York 94,985 72,625 North Carolina 58,078 31,111 Ohio 36,954 38,400 Oklahoma 10,803 10,835 Pennsylvania 41,975 37,688 South Carolina 2,532 3,130 Tennessee 5,278 5,719 Texas 107,279 103,778 Utah 44,366 45,914 Virginia 2,353 18,572 Washington 11,550 13,138 Wisconsin 5,675 6,637 General allowance for loan loss — — Total commercial mortgage loans $ 1,509,132 $ 1,115,167 Credit Quality of Commercial Mortgage Loans The credit quality of commercial mortgage loans held-for-investment were as follows at December 31, 2015 and December 31, 2014: Recorded Investment Debt Service Coverage Ratios December 31, 2015 ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total (In thousands) (In thousands) Loan-to-value ratios: Less than 65% $ 869,470 $ 85,869 $ 19,862 $ 975,201 64.6 % $ 1,000,948 65.1 % 65% to 75% 508,557 25,374 — 533,931 35.4 535,690 34.9 76% to 80% — — — — 0.0 — 0.0 Greater than 80% — — — — 0.0 — 0.0 Total $ 1,378,027 $ 111,243 $ 19,862 $ 1,509,132 100.0 % $ 1,536,638 100.0 % Recorded Investment Debt Service Coverage Ratios December 31, 2014 ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total (In thousands) (In thousands) Loan-to-value ratios: Less than 65% $ 930,592 $ 151,700 $ 29,460 $ 1,111,752 97.6 % $ 1,146,030 97.6 % 65% to 75% 16,591 10,537 — 27,128 2.4 28,275 2.4 76% to 80% — — — — 0.0 — 0.0 Greater than 80% — — — — 0.0 — 0.0 Total $ 947,183 $ 162,237 $ 29,460 $ 1,138,880 100.0 % $ 1,174,305 100.0 % As of December 31, 2015 and December 31, 2014, the Company had no allowance for credit losses for commercial mortgage loans. As of December 31, 2015 and December 31, 2014, $1,509 million and $1,139 million, respectively, of commercial mortgage loans were in current status with no commercial mortgage or other loans classified as past due. The Company defines current in its aging of past due commercial mortgage and other loans as less than 30 days past due. Impaired loans include those loans for which it is probable that all amounts due will not be collected according to the contractual terms of the loan agreement. As of December 31, 2015 and December 31, 2014, the Company held no impaired commercial mortgage loans. The Company’s commercial mortgage may occasionally be involved in a troubled debt restructuring. As of December 31, 2015, the Company had no commitments to fund to borrowers that have been involved in a troubled debt restructuring. As of December 31, 2015 and December 31, 2014, the Company had no new troubled debt restructurings related to commercial mortgage and no payment defaults on commercial mortgages. Other Invested Assets — Successor The following table sets forth the composition of “Other invested assets” as of December 31, 2015 and December 31, 2014: Amortized Cost Successor Successor ($ in thousands) December 31, December 31, Low income housing tax credit properties $ 677 $ 896 Derivatives 17,735 26,001 $ 18,412 $ 26,897 Net Investment Income Net investment income for Successor Periods for the year ended December 31, 2015 and the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year For the Period from April 1, 2014 For the Period For the Year Fixed maturities $ 334,931 $ 231,972 $ 2,461 $ 11,545 Commercial mortgage loans 63,028 49,417 — — Cash, cash equivalents and short-term investments 511 4,786 16 23 Other investment (loss) income 9,543 7,353 — — Gross investment income 408,013 293,528 2,477 11,568 Investment expenses 9,082 4,957 127 633 Net investment income $ 398,931 $ 288,571 $ 2,350 $ 10,935 Realized Investment Gains and Losses Realized investment gains and losses for Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year For the Period For the Period For the Year Realized investment gains, net Fixed maturities $ 120,421 $ 25,795 $ 285 $ — Commercial mortgage loans 2,325 2,880 — — Derivatives (9,208 ) 17,417 — — Net realized gains $ 113,538 $ 46,092 $ 285 $ — There were no other-than-temporary impairment losses recorded in the Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014. There were no other-than-temporary impairment losses recorded in the Predecessor Period from January 1, 2014 through March 31, 2014. Realized capital gains and losses in the Predecessor year ended December 31, 2013 included $2 thousand of other-than-temporary impairment losses related to RMBS, none of which were included in other comprehensive income. No other-than-temporary impairment losses were included in accumulated other comprehensive income as of December 31, 2015 or as of December 31, 2014. Proceeds from sales of fixed maturities and gross realized investment gains and losses for Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year December 31, For the Period from April 1, 2014 For the Period 2014 For the Year Fixed maturities, available-for-sale Proceeds from sales $ 3,864,356 $ 1,429,177 $ 5,277 $ 9,170 Gross investment gains from sales 147,287 30,403 317 3 Gross investment losses from sales (26,829 ) (4,608 ) (32 ) (1 ) Proceeds from sales excludes taxable exchanges of $72.4 million and $3.0 million for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. Unrealized Investment Gains and Losses — Successor The following table summarizes the gross unrealized losses and fair value of fixed maturities by the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2015 and December 31, 2014: Less than 12 months Greater than 12 months December 31, 2015 ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 18,639 $ (77 ) $ 98 $ (4 ) $ 18,737 $ (81 ) Obligations of U.S. States and Political Subdivisions 207,889 (6,983 ) 4,030 (35 ) 211,919 (7,018 ) Foreign government 41,507 (8,665 ) 5,965 (1,936 ) 47,472 (10,601 ) All other corporate securities 3,523,371 (293,131 ) 209,474 (60,018 ) 3,732,845 (353,149 ) ABS 397,884 (7,031 ) 15,040 (1,198 ) 412,924 (8,229 ) CMBS 437,244 (7,164 ) 8,419 (80 ) 445,663 (7,244 ) RMBS 65,470 (776 ) 29,659 (753 ) 95,129 (1,529 ) Total fixed income securities $ 4,692,004 $ (323,827 ) $ 272,685 $ (64,024 ) $ 4,964,689 $ (387,851 ) Less than 12 months Greater than 12 months December 31, 2014 ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 14,160 $ (58 ) $ — $ — $ 14,160 $ (58 ) Obligations of U.S. States and Political Subdivisions 57,605 (531 ) — — 57,605 (531 ) Foreign government 37,543 (437 ) — — 37,543 (437 ) All other corporate securities 1,683,186 (34,127 ) — — 1,683,186 (34,127 ) ABS 115,568 (2,408 ) — — 115,568 (2,408 ) CMBS 135,203 (1,065 ) — — 135,203 (1,065 ) RMBS 92,804 (1,023 ) — — 92,804 (1,023 ) Total fixed income securities $ 2,136,069 $ (39,649 ) $ — $ — $ 2,136,069 $ (39,649 ) Portfolio Monitoring The Company has a comprehensive portfolio monitoring process to identify and evaluate each fixed maturity security whose carrying value may be other-than-temporarily impaired. For each fixed maturity security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made the decision to sell or whether it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If a security meets either of these criteria, the security’s decline in fair value is considered other-than-temporary and is recorded in earnings. If the Company has not made the decision to sell the fixed maturity security and it is not more likely than not the Company will be required to sell the fixed maturity security before recovery of its amortized cost basis, the Company evaluates whether it expects to receive cash flows sufficient to recover the entire amortized cost basis of the security. The Company calculates the estimated recovery value by discounting the best estimate of future cash flows at the security’s original or current effective rate, as appropriate, and compares this to the amortized cost of the security. If the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the fixed maturity security, the credit loss component of the impairment is recorded in earnings, with the remaining amount of the unrealized loss related to other factors recognized in other comprehensive income. The Company’s portfolio monitoring process includes a quarterly review of all securities to identify instances where the fair value of a security compared to its amortized cost is below established thresholds. The process also includes the monitoring of other impairment indicators such as ratings, ratings downgrades and payment defaults. The securities identified, in addition to other securities for which the Company may have a concern, are evaluated for potential other-than-temporary impairment using all reasonably available information relevant to the collectability or recovery of the security. Inherent in the Company’s evaluation of other-than-temporary impairment for these fixed maturity securities are assumptions and estimates about the financial condition and future earnings potential of the issue or issuer. Some of the factors that may be considered in evaluating whether a decline in fair value is other than temporary are: 1) the financial condition, near-term and long-term prospects of the issue or issuer, including relevant industry specific market conditions and trends, geographic location and implications of rating agency actions and offering prices; 2) the specific reasons that a security is in an unrealized loss position, including overall market conditions which could affect liquidity; and 3) the length of time and extent to which the fair value has been less than amortized cost. Net Unrealized Investment Gains and Losses in AOCI ($ in thousands) Predecessor Net Unrealized VOBA Future Policy Deferred Accumulated Other Balance, December 31, 2012 $ 21,236 $ — $ — $ (7,433 ) $ 13,803 Net investment gains and losses on investments arising during the period (15,281 ) — — 5,349 (9,932 ) Reclassification adjustment for gains and losses included in net income 1 — — — 1 Balance, December 31, 2013 $ 5,954 $ — $ — $ (2,084 ) $ 3,870 Net investment gains and losses on investments arising during the period 2,364 — — (828 ) 1,536 Reclassification adjustment for gains and losses included in net income 285 — — (100 ) 185 Balance, March 31, 2014 $ 8,033 $ — $ — $ (2,812 ) $ 5,221 Successor Balance, April 1, 2014 $ — $ — $ — $ — $ — Net investment gains and losses on investments arising during the period 159,261 — — (55,675 ) 103,586 Reclassification adjustment for gains and losses included in net income — — — — — Impact of net unrealized investment gains and losses on VOBA — (20,287 ) — 7,100 (13,187 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (7,541 ) 2,640 (4,901 ) Balance, December 31, 2014 $ 159,261 $ (20,287 ) $ (7,541 ) $ (45,935 ) $ 85,498 Net investment gains and losses on investments arising during the period (408,019 ) — — 142,807 (265,212 ) Reclassification adjustment for gains and losses included in net income 79,023 — — (27,658 ) 51,365 Impact of net unrealized investment gains and losses on VOBA — 57,061 — (19,971 ) 37,090 Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — 60,447 (21,157 ) 39,290 Balance, December 31, 2015 $ (327,781 ) $ 36,774 $ 52,906 $ 83,402 $ (154,699 )

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Financial Instruments	4. Derivative Financial Instruments See Note 2 for a description of the Company’s accounting policies for derivatives and Note 5 for information about the fair value hierarchy for derivatives. The following table provides a summary of the notional and fair value positions of derivative financial instruments as of December 31, 2015 and 2014: ($ in thousands) Successor December 31, 2015 December 31, 2014 Gross Fair Value Gross Fair Value Notional Assets Liabilities Notional Assets Liabilities Assets Equity Options $ 879,853 $ 28,588 $ (10,961 ) $ 593,610 $ 68,776 $ (43,104 ) Futures 15,373 108 — 20,195 329 — Liabilities Policyholders account balances Derivatives embedded in life and annuity contracts Equity-indexed annuity contracts (2) $ 1,494,084 $ — $ (64,138 ) $ 1,734,264 $ — $ (63,660 ) Equity-indexed life contracts 401,511 — (11,701 ) 347,610 — (18,720 ) Guaranteed accumulation benefits (1) 95,752 — (7,499 ) 120,714 — (6,367 ) Guaranteed withdrawal benefits (1) 13,264 — (315 ) 17,102 — (366 ) (1) As of April 1, 2014, these amounts were ceded in accordance with the Company’s reinsurance agreements (2) Notional amount represents account value of equity indexed contracts The standardized ISDA Master Agreement under which the Company’s derivative transactions are executed include provisions for payment netting. In the normal course of business activities, if there is more than one derivative transaction with a single counterparty, the Company will set-off the cash flows of those derivatives into a single amount to be exchanged in settlement of the resulting net payable or receivable with that counterparty. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related Credit Support Annex (“CSA”) have been executed. At December 31, 2015 and December 31, 2014, the Company held $0.8 million and $6.4 million in cash and securities collateral delivered by trade counterparties. This cash collateral is reported in Cash on the Consolidated Balance Sheet. The following table presents the amount and location of gains (losses) recognized in income, net of reinsurance, for derivatives that were not designated or qualifying as hedging instruments for the Successor Period for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014: For the Year Ended For the Period from April 1, 2014 ($ in thousands) Realized Policyholder Realized Policyholder Assets Equity Options $ (7,557 ) $ — $ 15,230 $ — Futures (1,651 ) — 2,187 — Liabilities Policyholders’ account balances Equity-indexed annuity contracts $ — $ (478 ) $ — $ (5,622 ) Equity-indexed life contracts — 956 — 90 The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments for the Predecessor Period from January 1, 2014 through March 31, 2014 and for the year ended December 31, 2013: For the Period from January 1, For the Year Ended ($ in thousands) Interest Credited (1) Policyholder (1) Interest (1) Policyholder (1) Liabilities Policyholders’ account balances Derivatives embedded in life and annuity contracts $ 16,427 $ 946 $ 36,890 $ 10,177 (1) Prior to April 1, 2014, these amounts were ceded in accordance with the Company’s reinsurance agreements.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2015
Fair Value	5. Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on the Consolidated Balance Sheets (Successor) at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows: Level 1 Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company can access. Level 2 Assets and liabilities whose values are based on the following: (a) Quoted prices for similar assets or liabilities in active markets; (b) Quoted prices for identical or similar assets or liabilities in markets that are not active; or (c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Level 3 Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect the Company’s estimates of the assumptions that market participants would use in valuing the assets and liabilities. The availability of observable inputs varies by instrument. In situations where fair value is based on internally developed pricing models or inputs that are unobservable in the market, the determination of fair value requires more judgment. The degree of judgment exercised by the Company in determining fair value is typically greatest for instruments categorized in Level 3. In many instances, valuation inputs used to measure fair value fall into different levels of the fair value hierarchy. The category level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments. The Company is responsible for the determination of fair value and the supporting assumptions and methodologies. The Company gains assurance that assets and liabilities are appropriately valued through the execution of various processes and controls designed to ensure the overall reasonableness and consistent application of valuation methodologies, including inputs and assumptions, and compliance with accounting standards. For fair values received from third parties or internally estimated, the Company’s processes and controls are designed to ensure that the valuation methodologies are appropriate and consistently applied, the inputs and assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are accurately recorded. For example, on a continuing basis, the Company assesses the reasonableness of individual fair values that have stale security prices or that exceed certain thresholds as compared to previous fair values received from valuation service providers or brokers or derived from internal models. The Company performs procedures to understand and assess the methodologies, processes and controls of valuation service providers. In addition, the Company may validate the reasonableness of fair values by comparing information obtained from valuation service providers or brokers to other third party valuation sources for selected securities. The Company performs ongoing price validation procedures such as back-testing of actual sales, which corroborate the various inputs used in internal models to market observable data. When fair value determinations are expected to be more variable, the Company validates them through reviews by members of management who have relevant expertise and who are independent of those charged with executing investment transactions. Successor There are no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2015 or December 31, 2014. The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and December 31, 2014. December 31, 2015 Description for Each Class of Asset or Liability ($ in thousands) Level 1 Level 2 Level 3 Total Assets at fair value Fixed maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 10,621 $ 157,957 $ — $ 168,578 Obligations of U.S. States and Political Subdivisions — 720,757 — 720,757 Foreign government — 61,643 — 61,643 All Other Corporate Securities — 5,727,155 11,520 5,738,675 ABS — 522,531 14,260 536,791 CMBS — 506,699 — 506,699 RMBS — 212,799 — 212,799 Short term investments 166,358 18,462 — 184,820 Other invested assets Equity Options 17,627 — — 17,627 Futures 108 — — 108 Separate accounts assets 1,395,141 — — 1,395,141 Total assets at fair value $ 1,589,855 $ 7,928,003 $ 25,780 $ 9,543,638 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (64,138 ) $ (64,138 ) Equity indexed life contracts — (11,701 ) — (11,701 ) Guaranteed minimum accumulation benefits — — (7,499 ) (7,499 ) Guaranteed minimum withdrawal benefits — — (315 ) (315 ) Separate accounts liabilities (1,395,141 ) — — (1,395,141 ) Total liabilities at fair value $ (1,395,141 ) $ (11,701 ) $ (71,952 ) $ (1,478,794 ) December 31, 2014 Description for Each Class of Asset or Liability ($ in thousands) Level 1 Level 2 Level 3 Total Assets at fair value Fixed maturities U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 12,408 $ 295,544 $ — $ 307,952 Obligations of U.S. States and Political Subdivisions — 543,735 — 543,735 Foreign government — 255,208 — 255,208 All Other Corporate Securities — 7,370,409 7,336 7,377,745 ABS — 377,393 5,250 382,643 CMBS — 330,790 2,693 333,483 RMBS — 189,881 — 189,881 Short term investments 191,979 145,677 23,713 361,369 Other invested assets Equity Options 25,672 — — 25,672 Futures 329 — — 329 Separate accounts assets 1,573,865 — — 1,573,865 Total assets at fair value $ 1,804,253 $ 9,508,637 $ 38,992 $ 11,351,882 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (63,660 ) $ (63,660 ) Equity indexed life contracts — (18,720 ) — (18,720 ) Guaranteed minimum accumulation benefits — — (6,367 ) (6,367 ) Guaranteed minimum withdrawal benefits — — (366 ) (366 ) Separate accounts liabilities (1,573,865 ) — — (1,573,865 ) Total liabilities at fair value $ (1,573,865 ) $ (18,720 ) $ (70,393 ) $ (1,662,978 ) There were no transfers between Level 1 and Level 2 during the period from April 1, 2014 through December 31, 2014. In 2015, U.S. Treasury securities were transferred to Level 1 as those securities are traded in an active market. The prior year presentation has been updated to conform to the current year presentation. Summary of significant valuation techniques for assets and liabilities measured at fair value on a recurring basis Fixed Maturities The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. The pricing hierarchy is updated for new financial products and recent pricing experience with various vendors. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. U.S. Treasury securities are included within Level 1 due to the market activity. Typical inputs used by these pricing services include but are not limited to, reported trades, benchmark yields, issuer spreads, bids, offers, and/or estimated cash flow, prepayment speeds, and default rates. If the pricing information received from third party pricing services is deemed not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service or classify the securities as Level 3. If the pricing service updates the price to be more consistent with the presented market observations, the security remains within Level 2. Indicative broker quotes are also used to determine fair value in circumstances where vendor pricing is not available, or where the Company ultimately concludes that pricing information received from independent pricing services is not reflective of market activity. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information with an internally-developed valuation. Pricing service overrides, internally-developed valuations and indicative broker quotes are generally included in Level 3 in the fair value hierarchy. The fair value of private fixed maturities, which are comprised of investments in private placement securities are primarily determined using discounted cash flow models. These models primarily use observable inputs that include Treasury or similar base rates plus estimated credit spreads to value each security. The credit spreads are obtained through a survey of private market intermediaries who are active in both primary and secondary transactions, and consider, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Since most private placements are valued using standard market observable inputs and inputs derived from, or corroborated by, market observable data including observed prices and spreads for similar publicly traded or privately traded issues, they have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the price of a security, a Level 3 classification is made. No private placement securities were classified as Level 3 as of December 31, 2015 or December 31, 2014. Short-term Investments Short-term investments include money market instruments, highly liquid debt instruments and certain other investments. Certain money market instruments are valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The remaining instruments in this category are generally fair valued based on market observable inputs and these investments have primarily been classified within Level 2. Short-term investments classified within Level 3 primarily consist of commercial mortgage loans. The fair value of the commercial mortgage loans is based upon the present value of the expected future cash flows discounted at the appropriate U.S. Treasury rate plus an appropriate credit spread for similar quality loans. Other Invested Assets The estimated fair value of derivatives is determined through the use of quoted market prices for exchange-traded derivatives. Separate Account Assets and Liabilities Separate account assets and liabilities consist principally of investments in mutual fund shares. The fair values are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Policyholders’ Account Balances The liabilities for guarantees primarily associated with the optional living benefit features of certain variable annuity contracts and equity indexed annuity contracts are calculated as the present value of future expected benefit payments to contractholders less the present value of assessed rider fees attributable to the optional living benefit feature. This methodology could result in either a liability or contra-liability balance, given changing capital market conditions and various actuarial assumptions. Since there is no observable active market for the transfer of these obligations, the valuations are calculated using internally developed models with option pricing techniques. The models are based on a risk neutral valuation framework and incorporate premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows. The determination of these risk premiums requires the use of management judgment. The significant inputs to the valuation models for these embedded derivatives include capital market assumptions, such as interest rate levels and volatility assumptions, as well as actuarially determined assumptions, including contractholder behavior, such as lapse rates, benefit utilization rates, withdrawal rates, and mortality rates. Since many of these assumptions are unobservable and are considered to be significant inputs to the liability valuation, the liability included in future policy benefits has been reflected within Level 3 in the fair value hierarchy. Actuarial assumptions, including contractholder behavior and mortality, are reviewed at least annually, and updated based upon emerging experience, future expectations and other data, including any observable market data. These assumptions are generally updated annually unless a material change that the Company feels is indicative of a long term trend is observed in an interim period. Level 3 Fair Value Measurements The following table summarizes quantitative information about the significant unobservable inputs used in Level 3 fair value measurements: ($ in thousands) Fair Valuation Unobservable Range Weighted Equity indexed annuity contracts $ (64,138 ) Option Pricing Technique Projected Option Cost 1.40% - 2.11% 1.70% Excluded from the table above at December 31, 2015 and December 31, 2014 are approximately $26 million and $15 million, respectively, Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not reasonably available. These investments primarily consist of certain public debt securities with limited trading activity, including asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company’s reporting significantly higher or lower fair value measurements for these Level 3 investments. The table above also excludes underlying quantitative inputs related to liabilities held for the Company’s guaranteed minimum accumulation benefits and guaranteed withdrawal benefits. These liabilities are not developed by the Company as they are 100% ceded to external reinsurers. The development of these liabilities generally involve actuarially determined models and could result in the Company reporting significantly higher or lower fair value measurements for these Level 3 investments. The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014: ($ in thousands) Balance Net OCI Transfers Transfers Level 3 Purchases Sales Issues Settlements Balance, Assets Fixed income securities All other corporate securities $ 7,336 $ (282 ) $ 30 $ 13,255 $ (2,386 ) $ — $ — $ — $ (6,433 ) $ 11,520 ABS 5,250 134 (2,338 ) 17,191 — — (5,000 ) — (977 ) 14,260 CMBS 2,693 23,506 314 — — — (20,192 ) — (6,321 ) — Short-term investments 23,713 14 — — — — — — (23,727 ) — Liabilities Equity indexed annuity contracts (63,660 ) (478 ) — — — — — — — (64,138 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (6,733 ) (1,081 ) — — — — — — — (7,814 ) ($ in thousands) Balance April 1, Net OCI Transfers Transfers Purchases Sales Issues Settlements Balance, Assets Fixed income securities All other corporate securities $ 396,694 $ 4,514 $ (7,472 ) $ — $ (289,172 ) $ — $ (97,228 ) $ — $ — $ 7,336 ABS 436 — (55 ) — — 4,930 — — (61 ) 5,250 CMBS 3,397 2,179 (314 ) — — — — — (2,569 ) 2,693 Short-term investments 24,095 29 — — — — (411 ) — — 23,713 Liabilities Equity indexed annuity contracts (58,038 ) (5,622 ) — — — — — — — (63,660 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (8,499 ) 1,766 — — — — — — — (6,733 ) (1) These amount are 100% ceded in accordance with the Company’s reinsurance agreements. Transfers into Level 3 are generally the result of unobservable inputs utilized within the valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company is able to validate. The following table presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value. The financial instruments presented below are reported at carrying value on the Company’s Consolidated Balance Sheet; however, in some cases, as described below, the carrying amount equals or approximates fair value as of December 31, 2015 and December 31, 2014: December 31, 2015 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Commercial mortgage loans $ — $ — $ 1,536,638 $ 1,536,638 Policy loans — — 186,827 186,827 Cash 49,121 — — 49,121 Vehicle note — — 638,270 638,270 Total assets at fair value $ 49,121 $ — $ 2,361,735 $ 2,410,856 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,967,973 $ 5,967,973 Other long-term debt — — 638,270 638,270 $ — $ — $ 6,606,243 $ 6,606,243 December 31, 2014 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Commercial mortgage loans $ — $ — $ 1,150,510 $ 1,150,510 Policy loans — — 194,385 194,385 Cash 49,730 — — 49,730 Vehicle note — — 551,600 551,600 Total assets at fair value $ 49,730 $ — $ 1,896,495 $ 1,946,225 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 6,609,253 $ 6,609,253 Other long-term debt — — 551,600 551,600 $ — $ — $ 7,160,853 $ 7,160,853 The fair values presented above have been determined by using available market information and by applying market valuation methodologies, as described in more detail below. Commercial Mortgage Loans The fair value of most commercial mortgage loans is based upon the present value of the expected future cash flows discounted at the appropriate U.S. Treasury rate plus an appropriate credit spread for similar quality loans. Policy Loans The fair value of policy loans was determined by discounting expected cash flows at the current loan coupon rate. As a result, the carrying value of the policy loans approximates the fair value. Cash The Company believes that due to the short-term nature of certain assets, the carrying value approximates fair value. Vehicle Note and Other Long-Term Debt The fair value of the Vehicle note and Other long-term debt is based upon the present value of the expected future cash flows discounted at the appropriate U.S. Treasury rate. Policyholders’ Account Balances — Investment Contracts Only the portion of policyholders’ account balances related to products that are investment contracts (those without significant mortality or morbidity risk) are reflected in the table above. For fixed deferred annuities fair values are derived using discounted projected cash flows based on interest rates that are representative of the Company’s financial strength ratings, and hence reflect the Company’s own nonperformance risk. For those balances that can be withdrawn by the customer at any time without prior notice or penalty, the fair value is the amount estimated to be payable to the customer as of the reporting date, which is generally the carrying value. Predecessor Summary of significant valuation techniques for assets and liabilities measured at fair value on a recurring basis Level 1 Measurements • Fixed maturities: Comprise certain U.S. Treasuries. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access. • Short-term: Comprise actively traded money market funds that have daily quoted net asset values for identical assets that the Company can access. • Separate account assets: Comprise actively traded mutual funds that have daily quoted net asset values for identical assets that the Company can access. Net asset values for the actively traded mutual funds in which the separate account assets are invested and obtained daily from the fund managers. Level 2 Measurements • Fixed maturities U.S. government and agencies: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. Municipal: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. Corporate, including privately placed: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. Also included are privately placed securities valued using a discounted cash flow model that is widely accepted in the financial services industry and uses market observable inputs and inputs derived principally from, or corroborated by, observable market data. The primary inputs to the discounted cash flow model include an interest rate yield curve, as well as published credit spreads for similar assets in markets that are not active that incorporate the credit quality and industry sector of the issuer. Foreign government: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. RMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, prepayment speeds, collateral performance and credit spreads. CMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, collateral performance and credit spreads. • Short-term: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. For certain short-term investments, amortized cost is used as the best estimate of fair value. Level 3 Measurements • Policyholder account balances — Successor; contractholder funds Predecessor: Derivatives embedded in certain life and annuity contracts are valued internally using models widely accepted in the financial services industry that determine a single best estimate of fair value for the embedded derivatives within a block of contractholder liabilities. The models primarily use stochastically determined cash flows based on the contractual elements of embedded derivatives, projected option cost and applicable market data, such as interest rate yield curves and equity index volatility assumptions. These are categorized as Level 3 as a result of the significance of nonmarket observable inputs. The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the period from January 1, 2014 through March 31, 2014. ($ in thousands) Total gains (losses) included in: Balance as of December 31, Net income (1) OCI Transfers Level 3 Transfers out of Level 3 Liabilities Contractholder funds: Derivatives embedded in life and annuity contracts $ (267,859 ) $ 18,525 $ — $ — $ — Total recurring Level 3 liabilities $ (267,859 ) $ 18,525 $ — $ — $ — Purchases Sales Issues Settlements Balance as Liabilities Contractholder funds: Derivatives embedded in life and annuity contracts $ — $ — $ (3,764 ) $ 2,612 $ (250,486 ) Total recurring Level 3 liabilities $ — $ — $ (3,764 ) $ 2,612 $ (250,486 ) (1) The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $17.6 million in interest credited to contractholder funds and $946 thousand in contract benefits. These amounts were ceded in accordance with the Company’s reinsurance agreements. The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the year ended December 31, 2013. ($ in thousands) Total gains (losses) included in: Balance as of December 31, Net income (1) OCI Transfers Level 3 Transfers out of Level 3 Assets Fixed maturities: Corporate $ 312 $ — $ — $ — $ — Total recurring Level 3 assets $ 312 $ — $ — $ — $ — Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ (314,926 ) $ 43,244 $ — $ — $ — Total recurring Level 3 liabilities $ (314,926 ) $ 43,244 $ — $ — $ — Purchases Sales Issues Settlements Balance as Assets Fixed maturities: Corporate $ — $ — $ — $ (312 ) $ — Total recurring Level 3 assets $ — $ — $ — $ (312 ) $ — Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ — $ — $ (6,621 ) $ 10,444 $ (267,859 ) Total recurring Level 3 liabilities $ — $ — $ (6,621 ) $ 10,444 $ (267,859 ) (1) The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $33.0 million in interest credited to contractholder funds and $10.2 million in contract benefits. These amounts were ceded in accordance with the Company’s reinsurance agreements. Transfers between level categorizations may occur due to changes in the availability of market observable inputs, which generally are caused by changes in market conditions such as liquidity, trading volume or bid-ask spreads. Transfers between level categorizations may also occur due to changes in the valuation source. For example, in situations where a fair value quote is not provided by the Company’s independent third-party valuation service provider and as a result the price is stale or has been replaced with a broker quote whose inputs have not been corroborated to be market observable, the security is transferred into Level 3. Transfers in and out of level categorizations are reported as having occurred at the beginning of the quarter in which the transfer occurred. Therefore, for all transfers into Level 3, all realized and changes in unrealized gains and losses in the quarter of transfer are reflected in the Level 3 rollforward table. There were no transfers between Level 1 and Level 2 during the period from January 1, 2014 through March 31, 2014 or 2013. The following table provides the change in unrealized gains and losses included in net income for Level 3 assets and liabilities. ($ in thousands) Period from As of December 31, 2013 Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ 18,525 $ 43,244 Total recurring Level 3 liabilities $ 18,525 $ 43,244 The amounts in the table above represent the change in unrealized gains and losses included in net income for the period of time that the asset or liability was determined to be in Level 3. The amount attributable to derivatives embedded in life and annuity contracts is reported as follows: $17.6 million in interest credited to contractholder funds and $946 thousand in contract benefits in the period from January 1, 2014 through March 31, 2014, $33.0 million in interest credited to contractholder funds and $10.2 million in contract benefits in 2013. These amounts are ceded in accordance with the Company’s reinsurance agreements.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2015
Reinsurance	6. Reinsurance Successor The Company has agreements that provide for reinsurance of certain policy-related risks. Under the agreements, premiums, contract charges, interest credited to policyholder funds, policy benefits and substantially all expenses are reinsured. The Company purchases reinsurance to limit aggregate and single losses on large risks. The Company cedes a portion of the mortality risk on certain life and long-term care policies under coinsurance agreements to a pool of twelve non-affiliated reinsurers. As of December 31, 2015 and December 31, 2014, approximately 99% of the Company’s non-affiliated reinsurance recoverables are due from companies rated A- or better by S&P. ALIC represents over 65% of the Company’s reinsurance recoverables as of December 31, 2015 and 2014. On April 1, 2014, the Company entered into an experience rated modified coinsurance and monthly renewal term reinsurance arrangement with an external reinsurer under which risk on certain universal life and fixed annuity products is transferred. No portion of the assets constituting the consideration has been transferred to the reinsurer. This agreement was structured to finance reserves on certain universal life and fixed annuity products, in exchange for a fee based on those reserves. The profit to the reinsurer expected on the modified coinsurance and monthly renewable term portions is returned through an experience refund. The Company has determined that this agreement does not fulfill the requirements of risk transfer under generally accepted accounting principles and is accounted for on a deposit method of accounting. As of December 31, 2015 and 2014, the Company had a deposit receivable and a modified coinsurance payable of $1,250 million and $1,383 million, respectively, related to this agreement. The effects of reinsurance on premiums earned and fee income from policyholders for the Successor Period for the year ended December 31, 2015 and for the period April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Direct $ 1,463,472 $ 921,444 Assumed 5,939 5,258 Ceded (1,106,638 ) (702,833 ) Premiums and fee income, net of reinsurance $ 362,773 $ 223,869 The effects of reinsurance on return credited to policyholders’ account balances, and policyholder benefits for the year ended December 31, 2015 and for the period April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Direct $ 1,603,724 $ 1,104,420 Assumed 6,743 4,713 Ceded (957,643 ) (635,887 ) Return credited to policyholders’ account balances, and policyholders’ benefits, net of reinsurance $ 652,824 $ 473,246 Predecessor Prior to April 1, 2014, the Company had reinsurance agreements under which it reinsured all of its business to ALIC, Lincoln Benefit Re (“LB Re”) or non-affiliated reinsurers. Under the agreements, premiums, contract charges, interest credited to policyholders account balances, contract benefits and substantially all expenses were reinsured. The Company purchased reinsurance to limit aggregate and single losses on large risks. The Company ceded a portion of the mortality risk on certain life policies under coinsurance agreements to a pool of twelve non-affiliated reinsurers. The effects of reinsurance on premiums and contract charges are as follows: ($ in thousands) Period from January 1, 2014 2013 Direct $ 331,899 $ 1,331,597 Assumed 1,581 6,830 Ceded: Affiliate (244,797 ) (962,576 ) Non-affiliate (88,683 ) (375,851 ) Premiums and fee income, net of reinsurance $ — $ — The effects of reinsurance on return credited to policyholders’ account balances, policyholder benefits and other expenses are as follows: ($ in thousands) Period from January 1, 2014 2013 Direct $ 450,041 $ 1,938,015 Assumed 2,606 8,180 Ceded: Affiliate (336,122 ) (1,505,010 ) Non-affiliate (116,525 ) (441,185 ) Return credited to policyholders, contract benefits and expenses, net of reinsurance $ — $ —

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes	7. Income Taxes Successor In connection with the Acquisition as defined in Note 1, ALIC made an election under Treasury Regulation Section 1.1502-36(d) for ALIC to eliminate tax basis in certain assets and tax attributes under the “unified loss rules”. As a result, the tax basis of certain of the Company’s assets was reduced immediately prior to the Acquisition. The reduced tax bases were used to determine the deferred tax impact under the acquisition method of accounting as discussed in Note 1. The Company is party to a federal income tax allocation agreement (the “Tax Allocation Agreement”) with Lancaster Re. The Company and Lancaster Re will file a separate consolidated federal income tax return for the period April 1, 2014 to December 31, 2014 and will continue to do so in future tax years under Internal Revenue Code Section 1504 (c)(1). Following the Acquisition, the Company exited The Allstate Corporation’s consolidated federal income tax return and is no longer a party to the tax allocation agreement with its former affiliates. Final tax settlements were agreed to with The Allstate Corporation and no future tax allocations are expected to occur with The Allstate Corporation. As part of the Acquisition, although the Company remains jointly and severally liable for consolidated tax liabilities, the Company is held harmless by ALIC in accordance with the Acquisition agreement and believes that the possibility of a tax liability for the pre-sale tax years is remote. Additionally, the Company does not believe it has any uncertain tax positions for its federal income tax return that would be material to its financial condition, results of income, or cash flows. Therefore, the Company did not record a liability for unrecognized tax contingencies/benefits at December 31, 2015 and December 31, 2014. As of December 31, 2015, there were no uncertain tax positions for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase within 12 months of the reporting date. No amounts have been accrued for interest or penalties. The components of the deferred income tax assets and liabilities as of December 31, 2015 and December 31, 2014 are as follows: ($ in thousands) December 31, 2015 December 31, 2014 Deferred tax assets Policyholder reserves $ 2,058,446 $ 2,057,627 Deferred acquisition costs 41,664 24,850 Deferred financing costs 8,707 10,755 Net operating loss carryforward — 7,500 Investments 120,893 — Other assets 688 38 Total deferred tax assets $ 2,230,398 $ 2,100,770 Deferred tax liabilities Value of business acquired $ (86,696 ) $ (81,032 ) Amounts recoverable from reinsurers (2,076,251 ) (2,010,157 ) Investments — (45,935 ) Intangibles (1,820 ) (1,820 ) Other liabilities (591 ) (2,558 ) Total deferred tax liabilities $ (2,165,358 ) $ (2,141,502 ) Net deferred tax asset/(liability) $ 65,040 $ (40,732 ) The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance if necessary to reduce the deferred tax asset to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance the Company considers many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that any tax attribute carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) prudent and feasible tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets will be realized. The Company had no valuation allowance as of December 31, 2015 or December 31, 2014. With respect to deferred tax assets associated with investments, the Company has the ability and intent to hold these securities until recovery. Adjustments to the valuation allowance will be made if there is a change in management’s assessment of the amount of deferred tax asset that is realizable. At December 31, 2015, the Company had no net operating loss carryforwards, no capital loss carryforwards, or tax credit carryforwards. A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Expected federal income tax expense 45,062 $ 15,722 Dividends received deduction (2,443 ) (1,470 ) Other 3,475 (18 ) Total income tax expense $ 46,094 $ 14,234 Other represents the establishment of additional deferred tax liabilities that existed at the time of Acquisition and identified during the completion of the consolidated federal income tax return for the 2014 tax year. The dividends received deduction (“DRD”) reduces the amount of dividend income subject to U.S. tax and is the primary component of the non-taxable investment income, and, as such, is a significant component of the difference between the Company’s effective tax rate and the federal statutory tax rate of 35%. The actual current year DRD can vary from the estimate based on factors such as, but not limited to, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from mutual fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. However, there remains the possibility that the IRS and the U.S. Treasury will address, through subsequent guidance, certain issues related to the calculation of the DRD. For the last several years, the revenue proposals included in the Obama Administration’s budgets included a proposal that would change the method used to determine the amount of the DRD. A change in the DRD, including the possible retroactive or prospective elimination of this deduction through guidance or legislation, could increase actual tax expense and reduce the Company’s consolidated net income. Predecessor Prior to April 1, 2014, the Company joined The Allstate Corporation and its other subsidiaries (the “Allstate Group”) in the filing of a consolidated federal income tax return and was party to a federal income tax allocation agreement (the “Allstate Tax Sharing Agreement”). Under the Allstate Tax Sharing Agreement, the Company paid to or received from The Allstate Corporation the amount, if any, by which the Allstate Group’s federal income tax liability was affected by virtue of inclusion of the Company in the consolidated federal income tax return. The Company also had a supplemental tax sharing agreement with respect to reinsurance ceded to ALIC to allocate the tax benefits and costs related to such reinsurance. Effectively, these agreements resulted in the Company’s annual income tax provision being computed, with adjustments, as if the Company filed a separate return, adjusted for the reinsurance ceded to ALIC. The IRS is currently examining the Allstate Group’s 2013 and 2014 federal income tax returns. The IRS completed the audit of the Allstate Group’s 2011 and 2012 federal income tax returns and issued a final Revenue Agent’s Report on June 10, 2015. The Allstate Group’s tax years prior to 2011 have been examined by the IRS and the statute of limitations has expired on those years. Any adjustments that may result from IRS examinations of the Allstate Group’s tax returns are not expected to have a material effect on the results of operations, cash flows or financial position of the Company. The components of income tax expense are as follows: ($ in thousands) Period from January 1, 2014 2013 Current $ 914 $ 3,902 Deferred 8 (77 ) Total income tax expense $ 922 $ 3,825 The Company paid no income taxes in the period from January 1, 2014 through March 31, 2014. The Company paid income taxes of $4.2 million in 2013. A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations is as follows: Period from January 1, 2014 2013 Statutory federal income tax rate 35.0 % 35.0 % Other — — Effective income tax rate 35.0 % 35.0 %

Future Policy Benefits and Othe

Future Policy Benefits and Other Policyholder Liabilities - Successor	12 Months Ended
	Dec. 31, 2015
Future Policy Benefits and Other Policyholder Liabilities - Successor	8. Future Policy Benefits and Other Policyholder Liabilities — Successor Life insurance liabilities include reserves for death benefits and other policy benefits. As of December 31, 2015 and 2014, future policy benefits and other policyholder liabilities consisted of the following: ($ in thousands) December 31, 2015 December 31, 2014 Traditional life insurance $ 1,567,388 $ 1,492,438 Immediate fixed annuities 584,948 635,858 Accident and health insurance 1,580,809 1,462,110 Equity indexed annuities 38,739 39,174 Other 985,757 899,369 Total $ 4,757,641 $ 4,528,949 Future policy benefits are generally equal to the present value of future benefit payments and related expenses, less the present value of future net premiums. Assumptions as to mortality, morbidity and persistency are based on the Company’s experience, industry data, and/or other factors, when the basis of the reserve is established. Interest rates used in the determination of present values range from 2.5% to 6.0% for setting reserves.

Policyholder Account Balances -

Policyholder Account Balances - Successor	12 Months Ended
	Dec. 31, 2015
Policyholder Account Balances - Successor	9. Policyholder Account Balances — Successor As of December 31, 2015 and 2014, policyholders’ account balances consisted of the following: ($ in thousands) December 31, 2015 December 31, 2014 Interest-sensitive life contracts $ 5,210,152 $ 5,085,470 Individual annuities 5,896,019 6,662,985 Other 14,394 15,857 Total policyholders’ account balances $ 11,120,565 $ 11,764,312 Policyholders’ account balances represent an accumulation of account deposits plus credited interest less withdrawals, expenses and mortality charges, if applicable. These policyholders’ account balances also include provisions for benefits under non-life contingent payout annuities. Interest crediting rates range from 0.4% to 6.0% for interest sensitive contracts. Interest crediting rates for individual annuities range from 0.0% to 6.0%.

Certain Nontraditional Long-Dur

Certain Nontraditional Long-Duration Contracts - Successor	12 Months Ended
	Dec. 31, 2015
Certain Nontraditional Long-Duration Contracts - Successor	10. Certain Nontraditional Long-Duration Contracts — Successor The Company offered traditional variable annuity contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. The Company also offered variable annuity contracts with general and separate account options where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract less any partial withdrawals (“return of net deposits”). In certain of these variable annuity contracts, the Company also contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract less any partial withdrawals plus a minimum return (“minimum return”), and/or (2) the highest contract value on a specified date adjusted for any withdrawals (“contract value”). These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issued annuity contracts with and without market value adjusted investment options (“MVAs”), which provide for a return of principal plus a fixed rate of return if held to maturity, or, alternatively, a “market adjusted value” if surrendered prior to maturity or if funds are allocated to other investment options. The market value adjustment may result in a gain or loss to the Company, depending on crediting rates or an indexed rate at surrender, as applicable. All of the risks associated with the Company’s variable annuity contracts are reinsured with external reinsurers. In addition, the Company issues certain variable life, variable universal life and universal life contracts where the Company contractually guarantees to the contractholder a death benefit even when there is insufficient value to cover monthly mortality and expense charges, whereas otherwise the contract would typically lapse (“no lapse guarantee”). Variable life and variable universal life contracts are offered with general and separate account options similar to variable annuities. The assets supporting the variable portion of both traditional variable annuities and certain variable contracts with guarantees are carried at fair value and reported as “Separate account assets” with an equivalent amount reported as “Separate account liabilities.” Amounts assessed against the contractholders for mortality, administration, and other services are included within revenue in fee income from policyholders and changes in liabilities for minimum guarantees are generally included in policyholder benefits in the Consolidated Statement of Operations and Comprehensive Income (Loss) (Successor) and Statements of Operations and Comprehensive Income (Predecessor). For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, benefit utilization, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility or contractholder behavior used in the original pricing of these products. The Company’s contracts with guarantees may offer more than one type of guarantee in each contract; therefore, the amounts listed may not be mutually exclusive. The liabilities related to the net amount at risk are reflected within Future policy benefits and other policyholder liabilities or Policyholders’ account balances. As of December 31, 2015 and December 31, 2014, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2015 ($ in millions) In the Event of At For Cumulative Accumulation Variable Annuity Contracts Separate account value $ 608.8 $ 127.4 $ 12.8 $ 91.6 Net amount at risk $ 66.3 $ 16.9 $ 0.1 $ 7.4 Average attained age of contractholders 61 years N/A N/A N/A Weighted average waiting period until guarantee date N/A None N/A 5 years Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 307.3 General account value $ 3,639.6 Net amount at risk $ 84,370.9 Average attained age of contractholders 48 years As of December 31, 2014, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2014 ($ in millions) In the Event of At For Cumulative Accumulation Variable Annuity Contracts Separate account value $ 742.7 $ 151.9 $ 16.6 $ 118.4 Net amount at risk $ 57.2 $ 15.2 $ 0.1 $ 6.2 Average attained age of contractholders 60 years N/A N/A N/A Weighted average waiting period until guarantee date N/A None N/A 6 years Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 325.1 General account value $ 3,518.3 Net amount at risk $ 89,942.8 Average attained age of contractholders 51 years Liabilities for Guarantee Benefits The liabilities for guaranteed minimum death benefits (“GMDB”) and secondary guarantees on interest-sensitive life and fixed annuities are included in Future policy benefits and other policyholder liabilities on the Consolidated Balance Sheet (Successor) and the related changes in the liabilities are included in Policyholder benefits in the Consolidated Statement of Operations and Comprehensive Income (Loss) for the Successor Period for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014. Guaranteed minimum income benefits (“GMIB”), guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum accumulation benefits (“GMAB”) features are accounted for as bifurcated embedded derivatives and are recorded at fair value within Policyholders’ account balances on the Consolidated Balance Sheet (Successor). The table below summarizes the changes in general account liabilities for guarantees on variable contracts. GMDB GMIB GMWB/ Secondary ($ in thousands) Variable Variable Variable Interest- Total Predecessor Net balance as of December 31, 2013 $ — $ — $ — $ — $ — Plus reinsurance recoverable 8,444 8,743 9,444 281,771 308,402 Balance as of December 31, 2013 $ 8,444 $ 8,743 $ 9,444 $ 281,771 $ 308,402 Less: reinsurance recoverable 8,444 8,743 9,444 281,771 308,402 Net balance as of December 31, 2013 — — — — — Incurred guarantee benefits — — — — — Paid guarantee benefits — — — — — Net change — — — — — Net balance as of March 31, 2014 — — — — — Plus reinsurance recoverable 8,057 7,122 8,499 293,704 317,382 Balance as of March 31, 2014 $ 8,057 $ 7,122 $ 8,499 $ 293,704 $ 317,382 Successor Balance as of April 1, 2014 $ 8,057 $ 7,122 $ 8,499 $ 552,163 $ 575,841 Less: reinsurance recoverable 8,057 7,122 8,499 67,288 90,966 Net balance as of April 1, 2014 — — — 484,875 484,875 Incurred guarantee benefits — — — 159,104 159,104 Paid guarantee benefits — — — (108,252 ) (108,252 ) Net change — — — 50,852 50,852 Net balance as of December 31, 2014 — — — 535,727 535,727 Plus reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Balance as of December 31, 2014 $ 8,358 $ 8,240 $ 6,733 $ 619,460 $ 642,791 Less: reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Net balance as of December 31, 2014 — — — 535,727 535,727 Incurred guarantee benefits — — — 217,626 217,626 Paid guarantee benefits — — — (118,063 ) (118,063 ) Net change — — — 99,563 99,563 Net balance as of December 31, 2015 — — — 635,290 635,290 Plus reinsurance recoverable 8,844 5,663 7,814 100,317 122,638 Balance as of December 31, 2015 $ 8,844 $ 5,663 $ 7,814 $ 735,607 $ 757,928

Value of Business Acquired - Su

Value of Business Acquired - Successor	12 Months Ended
	Dec. 31, 2015
Value of Business Acquired - Successor	11. Value of Business Acquired — Successor The following reflects the changes to the VOBA asset: ($ in thousands) For the Year For the Period from Balance at beginning of period $ 231,521 $ 290,795 Business acquired — — Amortized to expense during the year (1) (40,880 ) (38,987 ) Adjustment for unrealized investment losses during the year 57,061 (20,287 ) Balance at end of year $ 247,702 $ 231,521 (1) Amount is included in Operating and Acquisition Expenses on the Consolidated Statements of Operations and Other Comprehensive Income (Loss) The following table provides estimated percentage of the VOBA balance to be amortized for the years indicated: VOBA 2016 14 % 2017 12 % 2018 10 % 2019 8 % 2020 and thereafter 56 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	12. Commitments and Contingencies Regulation and Compliance The Company is subject to changing social, economic and regulatory conditions. From time to time, regulatory authorities or legislative bodies seek to impose additional regulations regarding agent and broker compensation, regulate the nature of and amount of investments, and otherwise expand overall regulation of insurance products and the insurance industry. The Company has established procedures and policies to facilitate compliance with laws and regulations, to foster prudent business operations, and to support financial reporting. The Company routinely reviews its practices to validate compliance with laws and regulations and with internal procedures and policies. As a result of these reviews, from time to time the Company may decide to modify some of its procedures and policies. Such modifications, and the reviews that led to them, may be accompanied by payments being made and costs being incurred. The ultimate changes and eventual effects of these actions on the Company’s business, if any, are uncertain. The Company is currently being examined by certain states for compliance with unclaimed property laws. It is possible that this examination may result in additional payments of abandoned funds to states and to changes in the Company’s practices and procedures for the identification of escheatable funds, which could impact benefit payments and reserves, among other consequences; however, it is not likely to have a material effect on the financial statements of the Company. The Company is assessed amounts by the state guaranty funds to cover losses to policyholders of insolvent or rehabilitated insurance companies. Those mandatory assessments may be partially recovered through a reduction in future premium taxes in certain states. At December 31, 2015, the Company accrued $6.7 million for guaranty fund assessments which is expected to be offset by estimated future premium tax deductions of $11.1 million. Litigation The Company is involved from time to time in judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its business. Management believes, based on currently available information, that the results of such proceedings, in the aggregate, will not have a material adverse effect on the Company’s financial condition. Given the inherent difficulty of predicting the outcome of the Company’s litigation and regulatory matters, particularly in cases or proceedings in which substantial or indeterminate damages or fines are sought, the Company cannot estimate losses or ranges of losses for cases or proceedings where there is only a reasonable possibility that a loss may be incurred. However, the Company believes that at the present time there are no pending or threatened lawsuits that are reasonably likely to have a material adverse effect on the consolidated financial position or results of operations. In the normal course of its business, the Company has entered into agreements that include indemnities in favor of third parties, such as contracts with advisors and consultants, outsourcing agreements, information technology agreements and service agreements. The Company has also agreed to indemnify its directors, officers and employees in accordance with the Company’s by-laws. The Company believes any potential liability under these agreements is neither probable nor estimable. Therefore, the Company has not recorded any associated liability. Pledged or Restricted Assets The Company had the following restricted assets: • Certain bonds were on deposit with governmental authorities as required by law with market values of $8.4 million and $8.9 million at December 31, 2015 and December 31, 2014, respectively. • Derivative cash collateral received was reported as cash equivalents of $0.8 million and $6.4 million at December 31, 2015 and December 31, 2014, respectively. • Funds pledged on certain mortgage loans held in the investment portfolio to finance property improvements on underlying real estate totaling $18.4 million at December 31, 2015.

Regulatory Capital and Dividend

Regulatory Capital and Dividends	12 Months Ended
	Dec. 31, 2015
Regulatory Capital and Dividends	13. Regulatory Capital and Dividends The Company prepares its statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the State of Nebraska. Prescribed statutory accounting practices include a variety of publications of the National Association of Insurance Commissioners (“NAIC”), as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. The State of Nebraska requires insurance companies domiciled in its state to prepare statutory-basis financial statements in conformity with the NAIC Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the State of Nebraska Insurance Commissioner. Statutory accounting practices differ from GAAP primarily since they require establishing life insurance reserves based on different actuarial assumptions, and valuing certain investments at amortized cost. Statutory accounting practices do not give recognition to purchase accounting adjustments. Statutory net income was $74 million and $226 million for the years ended December 31, 2015 and December 31, 2014, respectively. Statutory capital and surplus was $555 million and $719 million as of December 31, 2015 and December 31, 2014, respectively. Dividend Limitations The ability of the Company to pay dividends is dependent on business conditions, income, cash requirements and other relevant factors. The payment of shareholder dividends by the Company without the prior approval of the Department of Insurance is limited to formula amounts based on net income and capital and surplus, determined in conformity with statutory accounting practices, as well as, the timing and amount of dividends paid in the preceding twelve months. In connection with the Acquisition, prior approval of the Nebraska Director of Insurance is required for the Company for any dividend or distribution for five years subsequent to the Acquisition. The Company paid dividends of $187.0 million and $33.2 million during the year ended December 31, 2015 and the period from April 1, 2014 through December 31, 2014, respectively. Other Without the prior approval of the Nebraska Director of Insurance, the Company may not: 1. Acquire or enter into an agreement or understanding to acquire control of any insurer, assumptively acquire policies, or bulk reinsure business during the period of three years after the Acquisition. 2. Provide or propose to provide directly or indirectly any loans, advances, guarantees, pledges, or other financial assistance (excluding policy loans or investment portfolio transactions) during the period of three years after the Acquisition. 3. Engage in any material transaction during the period of three years after the Acquisition. “Material transaction” shall mean any transfer or encumbrance of assets that, together with all other transfers or encumbrances made within the preceding twelve months, exceeds in value the greater of five percent of Lincoln Benefit’s surplus as of the December 31st of the last preceding, or the net gain from operations of Lincoln Benefit for the twelve-month period ending the December 31st of the last preceding. For the purposes of this clause, “Material Transaction” shall exclude: (i) investment portfolio transactions; (ii) settlement of balances due to policyholders, agents or third party reinsurers under existing reinsurance agreements or; (iii) settlement of ordinary course payables including but not limited to taxes, third party administrators, suppliers or other ordinary course creditors, and intercompany payables arising under any approved intercompany services agreement Under state insurance laws, insurance companies are required to maintain paid up capital of not less than the minimum capital requirement applicable to the types of insurance they are authorized to write. Insurance companies are also subject to risk-based capital (“RBC”) requirements adopted by state insurance regulators. A company’s “authorized control level RBC” is calculated using various factors applied to certain financial balances and activity. Companies that do not maintain statutory capital and surplus at a level in excess of the company action level RBC, which is two times authorized control level RBC, are required to take specified actions. Company action level RBC is significantly in excess of the minimum capital requirements.

Leases

Leases	12 Months Ended
	Dec. 31, 2015
Leases	14. Leases In December 2014, the Company entered into a lease agreement, effective February 2015, to lease office space under a non-cancellable operating lease agreement that expires in January 31, 2026. For the year ended December 31, 2015, the Company made payments of $0.1 million pursuant to this operating lease. For the period from April 1, 2014 through December 31, 2014, the Company made no payments pursuant to this operating lease. The minimum aggregate rental commitments as of December 31, 2015 were as follows: ($ in thousands) 2015 $ 194 2016 207 2017 212 2018 217 2019 222 All future years 1,489 Aggregate total $ 2,541

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2015
Related Parties	15. Related Parties Successor On April 1, 2014, the Company entered into a management services agreement with Resolution. Under this agreement, Resolution and Lincoln Benefit provide services to each other including but not limited to compliance, legal, risk management, accounting and reporting, treasury, tax and other management related services. Services are provided at cost. Resolution provided $13.9 million and $21.1 million in services to Lincoln Benefit for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. Effective April 1, 2014, the Company entered into a Fee Letter (the “Fee Letter”) with Lanis LLC (“Lanis”) pursuant to which the Company will pay Lanis the risk spread due on the Vehicle Note issued by Lanis to Lancaster Re. The total expense related to this risk spread for the year ended December 31, 2015 and the period from April 1, 2014 through December 31, 2014 was approximately $6.7 million and $4.3 million, respectively. The Company reported the following receivables/ (payables) to affiliates as of December 31, 2015 and December 31, 2014 ($ in thousands): December 31, 2015 December 31, 2014 Resolution $ (2,623 ) $ (4,509 ) Lanis $ (1,742 ) $ (1,564 ) Intercompany receivable and payable balances are evaluated on an individual company basis. Intercompany balances are generally settled quarterly. The Company’s stock is pledged as collateral on Resolution’s term loan agreement with a syndicate of lenders (“Term Loan”). The maturity date of the loan is June 15, 2018. The Term Loan was funded on April 1, 2014. On April 1, 2014, the Company and RLI entered into a Letter Agreement whereby from and after the fifth anniversary of the date of the agreement, if the Company makes any payment pursuant to the Fee Letter, within ten Business Days of such payment by the Company, RLI shall reimburse the Company in cash in an amount equal to such payment by the Company. Predecessor All intercompany balances were settled prior to the Acquisition. Business operations Prior to April 1, 2014, the Company used services performed by its affiliates, Allstate Insurance Company (“AIC”), ALIC and Allstate Investments LLC, and business facilities owned or leased and operated by AIC in conducting its business activities. In addition, the Company shared the services of employees with AIC. The Company reimbursed its affiliates for the operating expenses incurred on behalf of the Company. The Company was charged for the cost of these operating expenses based on the level of services provided. Operating expenses allocated to the Company were $50.1 million and $249.7 million in the period from January 1, 2014 through March 31, 2014, for the years ended December 31, 2013, respectively. Of these costs, the Company retained investment related expenses on the invested assets that were not transferred under the reinsurance agreements. All other costs were ceded to ALIC under the reinsurance agreements. Broker-Dealer agreements Prior to April 1, 2014, the Company had a service agreement with Allstate Distributors, L.L.C. (“ADLLC”), a broker-dealer company owned by ALIC, whereby ADLLC promoted and marketed products sold by the Company. In return for these services, the Company recorded expense of $12 thousand and $71 thousand in the period from January 1, 2014 through March 31, 2014 and for the year ended December 31, 2013, respectively, that was ceded to ALIC under the terms of the reinsurance agreements. Prior to April 1, 2014, the Company received distribution services from Allstate Financial Services, LLC, an affiliated broker-dealer company, for certain annuity and variable life insurance contracts sold by Allstate exclusive agencies. For these services, the Company incurred commission and other distribution expenses of $2.2 million and $7.7 million in the period from January 1, 2014 through March 31, 2014 and for the year ended December 31, 2013, respectively, that were ceded to ALIC under the terms of the reinsurance agreements. Reinsurance The following table summarizes amounts that were ceded to ALIC under reinsurance agreements and reported net in the Statements of Operations and Comprehensive Income: ($ in thousands) Period from January 1, 2014 2013 Premiums and contract charges $ 244,797 $ 962,576 Interest credited to contractholder funds, contract benefits and expenses 336,122 1,505,010 In September 2012, the Company entered into a coinsurance reinsurance agreement with LB Re to cede certain interest-sensitive life insurance policies to LB Re. Income taxes Prior to April 1, 2014, the Company was a party to a federal income tax allocation agreement with The Allstate Corporation (see Note 7). Intercompany loan agreement Prior to April 1, 2014, the Company had an intercompany loan agreement with The Allstate Corporation.

Consolidated Summary of Investm

Consolidated Summary of Investments Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2015
Consolidated Summary of Investments Other Than Investments in Related Parties	($ in thousands) Amortized Fair Value Amount at which Type of Investment Fixed maturities: Bonds: United States government, government agencies and authorities $ 163,096 $ 168,578 $ 168,578 States, municipalities and political subdivisions 712,948 720,757 720,757 Foreign governments 72,042 61,643 61,643 All other corporate bonds 6,060,561 5,738,675 5,738,675 Residential mortgage-backed securities 209,728 212,799 212,799 Commercial mortgage-backed securities 513,316 506,699 506,699 Asset-backed securities 542,503 536,791 536,791 Total fixed maturities $ 8,274,194 $ 7,945,942 $ 7,945,942 Other securities: Mortgage loans $ 1,509,132 $ $ 1,509,132 Derivatives 26,128 17,735 17,735 Other long-term assets 677 677 Policy loans 186,827 186,827 Short-term investments 184,820 184,820 Total other securities $ 1,907,584 $ 17,735 $ 1,899,191 Total investments $ 10,181,778 $ 7,963,677 $ 9,845,133

Consolidated Reinsurance

Consolidated Reinsurance	12 Months Ended
	Dec. 31, 2015
Consolidated Reinsurance	($ in thousands) Gross Amount Ceded to Other Assumed Net Amount Percentage of Successor Year Ended December 31, 2015 Life insurance in force $ 390,226,197 $ 384,704,438 $ 4,601,282 $ 10,123,041 45.5 % Premiums and contract charges: Life and annuities $ 1,405,005 $ (1,056,276 ) $ 5,939 $ 354,668 1.7 % Accident and health insurance 58,467 (50,362 ) — 8,105 0.0 % $ 1,463,472 $ (1,106,638 ) $ 5,939 $ 362,773 1.6 % Period from April 1, 2014 through December 31, 2014 Life insurance in force $ 395,385,878 $ 388,790,881 $ 5,106,566 $ 11,701,563 43.6 % Premiums and contract charges: Life and annuities $ 869,472 $ (669,382 ) $ 5,258 $ 205,348 2.6 % Accident and health insurance 51,972 (33,451 ) — 18,521 0.0 % $ 921,444 $ (702,833 ) $ 5,258 $ 223,869 2.4 % Predecessor Period from January 1, 2014 through March 31, 2014 Premiums and contract charges: Life and annuities $ 313,410 $ (314,991 ) $ 1,581 $ — 0.0 % Accident and health insurance 18,489 (18,489 ) — — 0.0 % $ 331,899 $ (333,480 ) $ 1,581 $ — 0.0 % Year ended December 31, 2013 Life insurance in force $ 389,941,404 $ 395,421,202 $ 5,479,798 $ — 0.0 % Premiums and contract charges: Life and annuities $ 1,250,623 $ (1,257,453 ) $ 6,830 $ — 0.0 % Accident and health insurance 80,974 (80,974 ) — — 0.0 % $ 1,331,597 $ (1,338,427 ) $ 6,830 $ — 0.0 %

General (Policies)

General (Policies)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The financial statements are presented for Successor and Predecessor periods, which relate to the accounting periods after and before April 1, 2014, respectively, the date of the closing of the Acquisition. For periods after April 1, 2014, the accompanying financial statements comprise the consolidated financial statements of the Company, which include the accounts of the Company and its subsidiary. Due to the Acquisition and the application of push-down accounting, different bases of accounting have been used to prepare the Predecessor and Successor financial statements. A black line separates the Predecessor and Successor financial statements to highlight the lack of comparability between these two periods. The principal accounting policies applied in the preparation of these financial statements are set out below and in Note 2.
Consolidation	Consolidation The accompanying consolidated financial statements of the Successor include the accounts of Lincoln Benefit and its subsidiary, Lancaster Re. All significant intercompany balances and transactions have been eliminated on consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash	Cash Cash includes cash on hand, amounts due from banks, money market securities, highly liquid overnight deposits, discount notes and commercial paper held in the ordinary course of business and other debt instruments with maturities of three months or less when purchased.
Investments	Investments Fixed maturities include bonds, asset-backed securities (“ABS”) residential mortgage-backed securities (“RMBS”) and commercial mortgage-backed securities (“CMBS”). Fixed maturities, which may be sold prior to their contractual maturity, are designated as available-for-sale (“AFS”) and are carried at fair value. The difference between amortized cost and fair value, net of deferred income taxes, is reflected as a component of accumulated other comprehensive income. Cash received from calls, principal payments and make-whole payments and cash received from maturities and pay-downs are reflected as a component of proceeds from sales and maturities within the Consolidated Statement of Cash Flows — Successor and Statement of Cash Flows — Predecessor. The Company recognizes other-than-temporary impairments (“OTTI”) for securities classified as AFS in accordance with ASC 320, Investments-Debt and Equity Securities If the Company intends to sell or if it is more likely than not that it will be required to sell an impaired security prior to recovery of its cost basis, then the Company recognizes a charge to earnings for the full amount of the impairment (the difference between the amortized cost and fair value of the security). For fixed maturity securities that are considered OTTI and that the Company does not intend to sell and will not be required to sell, the Company separates the impairment into two components: credit loss and noncredit loss. Credit losses are charged to net realized investment losses and noncredit losses are charged to other comprehensive income. The credit loss component is the difference between the security’s amortized cost and the present value of its expected future cash flows discounted at the current effective rate. The remaining difference between the security’s fair value and the present value of its expected future cash flows is the noncredit loss. For corporate bonds, historical default (by rating) data is used as a proxy for the probability of default, and loss given default (by issuer) projections are applied to the par amount of the bond. Potential losses incurred on structured securities are based on expected loss models rather than incurred loss models. Expected cash flows include assumptions about key systematic risks (e.g. unemployment rates, housing prices) and loan-specific information (e.g. delinquency rates, loan-to- value ratios). Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third parties, along with assumptions and judgments about the future performance of the underlying collateral. Commercial mortgage loans (“CMLs”) acquired at fair value are carried at amortized cost using the effective interest rate method. CMLs held by the Company are diversified by property type and geographic area throughout the U.S. CMLs are considered impaired when it is probable that the Company will not collect amounts due according to the terms of the original loan agreement. The Company assesses the impairment of loans individually for all loans in the portfolio. The Company estimates the fair value of the underlying collateral using internal valuations generally based on discounted cash flow analyses. The Company estimates an allowance for loan and lease losses (“ALLL”) representing potential credit losses embedded in the CML portfolio. The estimate is based on a consistently applied analysis of the loan portfolio and takes into consideration all available information, including industry, geographical, economic and political factors. Policy loans represent loans the Company issues to policyholders. Policy loans are carried at unpaid principal balances. Interest income on such loans is recognized as earned using the contractually agreed upon interest rate and reflected in Net investment income in the Consolidated Statement of Operations and Comprehensive Income (Loss). Generally, interest is capitalized on the associated policy’s anniversary date. Short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at the time of purchase and are stated at estimated fair value or amortized cost, which approximates fair value.
Derivatives	Derivatives As part of the Company’s overall risk management policy, the Company uses listed options and exchange traded futures to economically hedge its obligation under certain fixed indexed annuity and universal life contracts. Derivative financial instruments utilized by the Company during the year ended December 31, 2015 and in the period from April 1, 2014 through December 31, 2014 (the “Successor Period”) included index option contracts and futures contracts. Derivatives are carried in the Company’s Consolidated Balance Sheet either as assets within Other invested assets or as liabilities within Accrued expenses and other liabilities at estimated fair value. The Company offsets the fair value amounts recognized for derivatives executed with the same counterparty under the same master netting agreement. Accruals on derivatives are generally recorded in accrued investment income or within other liabilities. However, accruals that are not scheduled to settle within one year are included with the derivatives carrying value in other invested assets or other liabilities. If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the estimated fair value of the derivative are reported in realized investment gains, net in the Consolidated Statement of Operations and Comprehensive Income (Loss). The notional amounts specified in the contracts are used to calculate contractual payments under the agreements and are generally not representative of the potential for gain or loss on these contracts. Futures contracts are defined as commitments to buy or sell designated financial instruments based on specified prices, yields or indexes. Futures contracts provide returns at specified or optional dates based upon a specified index or interest rate applied to a notional amount. The Company uses futures to hedge exposures in indexed annuity and life contracts. Daily cash settlement of variation margins is required for futures contracts and is based on the changes in daily prices. The final settlement of futures contracts is in cash. Index option contracts provide returns at specified or optional dates based on a specified equity index applied to the option’s notional amount. The Company purchases and writes (sells) option contracts primarily to reduce market risk associated with certain annuity and life contracts. When the Company purchases/sells option contracts at specific prices, it is required to pay/receive a premium to/from the counterparties. The amount of premium paid/received is based on the number of contracts purchased/sold, the specified price and the maturity date of the contract. The Company receives/pays cash equal to the premium of written/purchased options when the contract is established. If the option is exercised, the Company receives/pays cash equal to the product of the number of contracts and the specified price in the contract in exchange for the equity upon which the option is written/purchased. If the options are not exercised, then no additional cash is exchanged when the contract expires. Premiums paid are reported as a derivative asset and premiums received are reported as a derivative liability. Purchased put and call index option contracts are cash settled upon exercise and the gain or loss on the settlement is reported in net investment income. If the purchased option contract expires without being exercised, the premiums paid are reported as net investment income and the corresponding asset previously recorded is reversed. The change in the fair value of written option contracts is reported in Realized investment gains, net, with an adjustment to a corresponding liability. Written call index option contracts are cash settled upon exercise and the gain or loss on settlement is reported in Realized investment gains, net. The Company has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value. The Company’s embedded derivatives are equity options in life and annuity product contracts, which provide equity returns to contractholders, guaranteed minimum accumulation and withdrawal benefits in variable annuity contracts. The Company has reinsurance agreements to transfer all the risk related to guarantee minimum income, accumulation and withdrawal benefits in variable annuity contracts to third party reinsurers. None of these derivatives are designated as accounting hedging instruments and all are gross liabilities reported in policyholder account balances or future policy benefits and other policyholder liabilities.
Investment Income and Realized Gains and Losses	Investment Income and Realized Gains and Losses Investment income primarily consists of interest and is recognized on an accrual basis using the effective yield method. Interest income for RMBS and CMBS is determined considering estimated pay-downs, including prepayments, obtained from third party data sources and internal estimates. Actual prepayment experience is periodically reviewed and effective yields are recalculated when differences arise between the prepayments originally anticipated and the actual prepayments received. For RMBS and CMBS of high credit quality with fixed interest rates, the effective yield is recalculated on a retrospective basis. For all others, the effective yield is recalculated on a prospective basis. Accrual of income is suspended for other-than-temporarily impaired fixed maturities when the timing and amount of cash flows expected to be received is not reasonably estimable. It is the Company’s policy to cease to carry accrued interest on commercial mortgage loans that are over 90 days delinquent. The Company held no non-income producing investments as of December 31, 2015 or December 31, 2014. Realized investment gains and losses net include gains and losses on investment sales and write-downs in value due to other-than-temporary declines in fair value. Realized capital gains and losses on investment sales, including principal payments, are determined on a specific identification basis.
Recognition of Premium Revenues and Fees, and Related Policyholders' Benefits and Interest Credited	Recognition of Premium Revenues and Fees, and Related Policyholders’ Benefits and Interest Credited Prior to April 1, 2014 or the periods prior to April 1, 2014 (the “Predecessor Periods”), the Company had reinsurance agreements whereby all premiums, fee income from policyholders and returns credited to policyholders, policyholder benefits and substantially all expenses were ceded to ALIC and other reinsurers. Amounts reflected in the Statements of Operations and Comprehensive Income (Loss) are presented net of reinsurance. Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products. Premiums from these products are recognized as revenue when due from policyholders. Surrender values on traditional life and death benefits are reflected in policyholder benefits. Immediate annuities with life contingencies provide insurance protection over a period that extends beyond the period during which premiums are collected. Premiums from these products are recognized as revenue when received at the inception of the contract. Benefits and expenses are recognized in relation to premiums. As of April 1, 2014, the Company has reinsurance agreements to transfer all the risk related to immediate annuities existing as of or prior to the Acquisition Date. Interest-sensitive life contracts, such as universal life and single premium life, are insurance contracts whose terms are not fixed and guaranteed. The terms that may be changed include premiums paid by the policyholder, interest credited to the policyholder account balance and contract charges assessed against the policyholder account balance. Premiums from these contracts are reported as policyholder account balances. Fee income from policyholders consist of fees assessed against the policyholder account balance for the cost of insurance (mortality risk), contract administration and surrender of the policy prior to contractually specified dates. These charges are recognized as revenue when assessed against the policyholder account balance. Policyholder benefits include life-contingent benefit payments in excess of the policyholder account balance. Contracts that do not subject the Company to significant risk arising from mortality or morbidity are referred to as investment contracts. Fixed annuities, including market value adjusted annuities, equity-indexed annuities and immediate annuities without life contingencies, are considered investment contracts. Consideration received for such contracts is reported as policyholder account balance deposits. Policy fees for investment contracts consist of fees assessed against the contractholder account balance for maintenance, administration and surrender of the contract prior to contractually specified dates, and are recognized when assessed against the policyholder account balance. Return credited to policyholder funds represents interest accrued or paid on interest-sensitive life and investment contracts. Crediting rates for certain fixed annuities and interest-sensitive life contracts are adjusted periodically by the Company to reflect current market conditions subject to contractually guaranteed minimum rates. Crediting rates for indexed life and annuities are generally based on an equity index, such as the Standard & Poor’s (“S&P”) 500 Index. Policy charges for variable life and variable annuity products consist of fees assessed against the policyholder account balances for contract maintenance, administration, mortality, expense and surrender of the contract prior to contractually specified dates. Policy benefits incurred for variable life and variable annuity products include guaranteed minimum death, income, withdrawal and accumulation benefits. The Company incurs costs in connection with renewal insurance business. All acquisition-related costs, including commissions, as well as all indirect costs, are expensed as incurred and reported in Other expenses on the Consolidated Statement of Operations and Comprehensive Income (Loss) for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014.
Reinsurance	Reinsurance Reinsurance accounting is applied for ceded and assumed transactions when the risk transfer provisions of ASC 944-40, Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts With respect to ceded reinsurance, the Company values reinsurance recoverables on reported claims at the time the underlying claim is recognized in accordance with contract terms. For future policy benefits, the Company estimates the amount of reinsurance recoverables based on the terms of the reinsurance contracts and historical reinsurance recovery information. The reinsurance recoverables are based on what the Company believes are reasonable estimates and the balance is reported as an asset in the Consolidated Balance Sheets (Successor). However, the ultimate amount of the reinsurance recoverable is not known until all claims are settled. Reinsurance contracts do not relieve the Company from its obligations to policyholders, and failure of reinsurers to honor their obligations could result in losses to the Company; consequently, allowances are established for amounts deemed uncollectible. In the Predecessor periods, or the periods prior to April 1, 2014, the Company had reinsurance agreements whereby all insurance risks represented by premiums, fee income from policyholders, returns credited to policyholder account balances, policyholder benefits and substantially all expenses were ceded to ALIC and other reinsurers. Additionally, investment income earned on the assets that supported policyholder account balances and future policy benefits and other policyholder funds were not included in the Company’s financial statements as those assets were owned and managed by ALIC and other reinsurers under the terms of the reinsurance agreements.
Value of Business Acquired ("VOBA")	Value of Business Acquired (“VOBA”) For interest-sensitive life products, VOBA is amortized over the life of the policies in relation to the emergence of estimated gross profits (“EGP’s”) from margins on mortality, interest, expenses, and surrenders, all of which are net of reinsurance and include actual realized gains and losses on investments. For non-interest sensitive life products, such as term life insurance, VOBA is amortized in relation to premium. VOBA is reviewed periodically for loss recognition to ensure that the unamortized balance is recoverable from future earnings from the business. The carrying amount of VOBA is adjusted for the effects of realized and unrealized gains and losses on debt securities classified as AFS.
Separate Accounts	Separate Accounts Separate accounts assets are carried at fair value. The assets of the separate accounts are legally segregated and available only to settle separate account contract obligations. Separate accounts liabilities represent the contractholders’ claims to the related assets and are carried at an amount equal to the separate accounts assets. Investment income and realized capital gains and losses of the separate accounts accrue directly to the contractholders and therefore are not included in the Company’s Consolidated Statement of Operations and Comprehensive Income (Successor) or Statements of Operations and Comprehensive Income (Predecessor). Deposits to and surrenders and withdrawals from the separate accounts are reflected in separate accounts liabilities and are not included in cash flows. Absent any contract provision wherein the Company provides a guarantee, variable annuity and variable life insurance contractholders bear the investment risk that the separate accounts’ funds may not meet their stated investment objectives.
Future Policy Benefits and Other Policyholder Liabilities	Future Policy Benefits and Other Policyholder Liabilities Policy liabilities are established for future policy benefits on certain annuity, life, and long term care policies. Such liabilities are established in amounts adequate to meet the estimated future obligations of policies in-force. Changes in policy and contract claims are recorded in policyholder benefits in the Consolidated Statements of Operations and Comprehensive Income (Loss). For ASC 944-20 products, benefit reserves are computed using the net level premium method for individual life, annuity and long-term care policies, and are based upon estimates as to future investment yield, mortality and lapse that include provisions for adverse deviation that were prevalent at the time the reserve was initially established. Mortality, morbidity and lapse assumptions for all policies are based on the Company’s own experience and industry standards. Liabilities for outstanding claims and claims adjustment expenses are estimates of payments to be made on life and health insurance contracts for reported claims and claims adjustment expenses. A liability is also held for claims adjustment expenses incurred but not reported as of the balance sheet date. These liabilities are determined using case basis evaluations and statistical analyses and represent estimates of the ultimate cost of all claims incurred but not paid. These estimates are continually reviewed and adjusted as necessary. Such adjustments are reflected in current operations. Future policy benefit reserves for fixed indexed annuity policies with returns linked to the performance of a specified market index are equal to the excess of the sum of the fair value of the embedded derivative and the host (or guaranteed) component over the policyholder account balance. The change in the fair value of the embedded derivative is linked to the performance of the equity option. The host value is established as of the date of acquisition and is equal to the account value, plus the value of the unexpired options at the date of acquisition, less the embedded derivative, and accreted over the policy’s life at a constant rate of interest. The Company holds additional liabilities for its no lapse guarantees (associated with universal life) and guaranteed minimum withdrawal benefits (associated with fixed indexed annuities). These are accounted for in accordance with ASC 944-20, Financial Services — Insurance Activities Policy liabilities and accruals are based on the various estimates discussed above. Although the adequacy of these amounts cannot be assured, the Company believes that policy liabilities and accruals will be sufficient to meet future obligations of policies in-force. The amount of liabilities and accruals, however, could be revised if the estimates discussed above are revised.
Policyholders' Account Balances	Policyholders’ Account Balances Policyholder account balances represent interest-bearing liabilities arising from the sale of products such as interest-sensitive life insurance and fixed annuities. Policyholder funds primarily comprise cumulative deposits received and interest credited to the contractholder less cumulative contract benefits, surrenders, withdrawals and contract charges for mortality or administrative expenses. Future policy benefits reserves for the portion of fixed indexed annuities earning a fixed rate of interest, and other deferred annuity products are computed under a retrospective deposit method and represent policyholders’ account balances before applicable surrender charges. The prior year amount of $1.9 billion has been reclassified from Future Policy Benefits and Other Policyholder Liabilities to Policyholders’ Account Balances to conform with the current year presentation. The Company holds additional liabilities for guaranteed minimum income benefits (“GMIB”) associated with variable annuities, which are accounted for in accordance with ASC 944-20, Financial Services — Insurance Activities
Income Taxes	Income Taxes — Successor Income taxes are provided for using the asset and liability method under which deferred tax assets and liabilities are recognized for temporary differences between the financial statement and income tax bases of assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The realizability of deferred tax assets is assessed at each reporting date and a deferred tax asset valuation allowance is established when there is uncertainty that such assets will be realized. Tax positions are assessed under a two-step approach, which requires the assessment of recognition and measurement. The Company reports interest expense related to income tax matters and tax penalties in other operating expenses in the Consolidated Statement of Operations and Comprehensive Income (Loss).
Other Long-Term Debt	Other Long-Term Debt Effective April 1, 2014, and with Nebraska Department of Insurance (the “NE DOI” or the “Department of Insurance”) approval, Lancaster Re issued a variable funding Surplus Note (the “Surplus Note”) to its affiliate, Lanis, LLC. for $513 million and acquired from Lanis a Vehicle Note (the “Vehicle Note”) for $513 million. The Vehicle Note is held to support a portion of Lancaster Re’s reinsurance obligations and has been authorized as an acceptable form of reinsurance collateral pursuant to Nebraska Rev. Stat. §44-8216(8)(c)(i) which allows a special purpose financial captive insurer to establish any method of security that the Department deems acceptable. The scheduled maturity date of the Vehicle Note is April 1, 2034, and the scheduled maturity date of the Surplus Note is April 1, 2039, although each may be cancelled earlier or extended under certain conditions. The Surplus Note does not repay principal prior to maturity and principal payment at maturity is subject to the prior approval of the Department of Insurance. With pre-approval, the Surplus Note is increased each quarter with a corresponding increase in the Vehicle Note. With Department pre-approval, interest on the Surplus Note for the prior quarter is paid on the first day of each subsequent quarter at a rate consistent with the rate received on the Vehicle Note of 4%. The Surplus Note and Vehicle Note increased by $57.1 million and $38.6 million in the Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. Interest expense of $22.9 million and $15.7 million was recognized in the Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014, respectively. The Surplus Note is unsecured and subordinated to all present and future indebtedness, policy claims and other creditor claims of Lancaster Re.
Other Assets and Accrued Expenses and Other Liabilities	Other Assets and Accrued Expenses and Other Liabilities Other assets consist primarily of premiums due, intangible assets, the Vehicle Note and receivables resulting from sales of securities that had not yet settled at the balance sheet date. Other liabilities consist primarily of accrued expenses, technical overdrafts, derivatives, and payables resulting from purchases of securities that had not yet been settled at the balance sheet date.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform with the current year financial statement presentation
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements In February 2013, the Financial Accounting Standards Board issued guidance requiring expanded disclosures about the amounts reclassified out of accumulated other comprehensive income by component. The guidance requires the presentation of significant amounts reclassified out of accumulated other comprehensive income by income statement line item, but only if the amount reclassified is required under accounting principles generally accepted in the United States of America (“GAAP”) to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, cross-reference to other disclosures that provide additional detail about those amounts is required. The Company adopted the new guidance in 2013. The new guidance affects disclosures only and therefore had no impact on the Company’s results of operations or financial position. Effective November 18, 2014, the Company adopted new guidance on when, if ever, the cost of acquiring an entity should be used to establish a new accounting basis (“pushdown”) in the acquired entity’s separate financial statements. The guidance provides an acquired entity and its subsidiaries with an irrevocable option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. If a reporting entity elects to apply pushdown accounting, its stand-alone financial statements would reflect the acquirer’s new basis in the acquired entity’s assets and liabilities. The election to apply pushdown accounting should be determined by an acquired entity for each individual change-in-control event in which an acquirer obtains control of the acquired entity; however, an entity that does not elect to apply pushdown accounting in the period of a change-in-control can later elect to retrospectively apply pushdown accounting to the most recent change-in-control transaction as a change in accounting principle. The Company has applied pushdown accounting as a result of the Acquisition in the Successor Period, as disclosed in Note 1. In January 2014, the FASB issued updated guidance for troubled debt restructurings clarifying when an in substance repossession or foreclosure occurs, and when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014. This guidance can be elected for prospective adoption or by using a modified retrospective transition method. The adoption of this new guidance in 2015 did not have a material impact on the Company’s consolidated financial position, results of operations or financial statement disclosures. In May 2014, the FASB issued a comprehensive new revenue recognition standard effective for fiscal years beginning after December 15, 2016 and interim periods within those years and should be applied retrospectively. In August 2015, the FASB amended the guidance to defer the effective date by one year, effective for the fiscal years beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new guidance will supersede nearly all existing revenue recognition guidance under GAAP; however, it will not impact the accounting for insurance contracts, leases, financial instruments and guarantees. For those contracts that are impacted by the new guidance, the guidance will require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled, in exchange for those goods or services. The Company is currently assessing the impact of the guidance on the Company’s consolidated financial position, results of operations and financial statement disclosures. In August 2014, the FASB issued guidance requiring that mortgage loans be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position, results of operations or financial statement disclosures. In February 2015, the FASB issued updated guidance regarding consolidation. The pronouncement eliminates specialized guidance for limited partnerships and similar legal entities, and removes the indefinite deferral for certain investment funds. The new guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. This guidance is not expected to have a significant effect on the Company’s consolidated financial position, results of operations or financial statement disclosures. In May 2015, the FASB issued new guidance on short-duration insurance contracts. The amendments in this new guidance are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. The new guidance should be applied retrospectively by providing comparative disclosures for each period presented, except for those requirements that apply only to the current period. The new guidance requires insurance entities to provide users of financial statements with more transparent information about initial claim estimates and subsequent adjustments to these estimates, including information on: (i) reconciling from the claim development table to the balance sheet liability; (ii) methodologies and judgments in estimating claims; and (iii) the timing, and frequency of claims. This guidance is not expected to have a significant effect on the Company’s consolidated financial position, results of operations or financial statement disclosures. In May 2015, the FASB issued new guidance on fair value measurement effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years and which should be applied retrospectively to all periods presented. Earlier application is permitted. The amendments remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using NAV per share (or its equivalent) practical expedient. In addition, the amendments remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. This guidance is not expected to have a significant effect on the Company’s consolidated financial position, results of operations or financial statement disclosures. In April 2015, the FASB issued new guidance on accounting for fees paid in a cloud computing arrangement, effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the new guidance is permitted and an entity can elect to adopt the guidance either: (1) prospectively to all arrangements entered into or materially modified after the effective date; or (2) retrospectively. The new guidance provides that all software licenses included in cloud computing arrangements be accounted for consistent with other licenses of intangible assets. However, if a cloud computing arrangement does not include a software license, the arrangement should be accounted for as a service contract, the accounting for which did not change. This guidance is not expected to have a significant effect on the Company’s consolidated financial position, results of operations or financial statement disclosures. In January 2016, the FASB issued new guidance on the recognition and measurement of financial instruments. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for the instrument-specific credit risk provision. The new guidance changes the current accounting guidance related to: (i) the classification and measurement of certain equity investments; (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk; and (iii) certain disclosures associated with the fair value of financial instruments. The Company is currently assessing the impact of the guidance on the Company’s consolidated financial position, results of operations and financial statement disclosures.
Predecessor
Income Taxes	Income Taxes — Predecessor The income tax provision is calculated under the liability method. Deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax bases of assets and liabilities at the enacted tax rates. The principal assets and liabilities giving rise to such differences are unrealized capital gains and losses, accrued expenses and reinsurance recoverables. A deferred tax asset valuation allowance is established when there is uncertainty that such assets will be realized.

General (Tables)

General (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of assets acquired and liabilities assumed as of April 1, 2014: ($ in thousands) Assets Fixed maturities $ 9,194,903 Commercial mortgage loans 1,263,902 Policy loans 196,451 Short-term investments 979,728 Other invested assets 1,104 Cash 40,529 Accrued investment income 103,246 Reinsurance recoverable 5,606,879 Value of business acquired 290,795 Deposit receivable 1,550,351 Intangibles 5,200 Other assets 554,176 Separate account assets 1,661,007 Total assets acquired 21,448,271 Liabilities Future policy benefits and other policyholder liabilities 6,682,833 Policyholders’ account balances 10,367,246 Accrued expenses and other liabilities 78,026 Modified coinsurance payable 1,550,351 Other long-term debt — affiliate 513,000 Separate account liabilities 1,661,007 Total liabilities assumed 20,852,463 Net assets acquired $ 595,808

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule for Fixed Income Securities at Amortized Cost, Gross Unrealized Gains and Losses and Fair Value	The amortized cost, gross unrealized gains and losses and fair value for fixed maturities as of December 31, 2015 and 2014 were as follows: December 31, 2015 — Successor ($ in thousands) Amortized Gross Gross Fair Value Fixed maturities U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 163,096 $ 5,563 $ (81 ) $ 168,578 Obligations of U.S. States and Political Subdivisions 712,948 14,827 (7,018 ) 720,757 Foreign government 72,042 202 (10,601 ) 61,643 Corporate securities 6,060,561 31,263 (353,149 ) 5,738,675 ABS 542,503 2,517 (8,229 ) 536,791 CMBS 513,316 627 (7,244 ) 506,699 RMBS 209,728 4,600 (1,529 ) 212,799 Total fixed maturities $ 8,274,194 $ 59,599 $ (387,851 ) $ 7,945,942 December 31, 2014 — Successor ($ in thousands) Amortized Gross Gross Fair Value Fixed maturities U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 287,077 $ 20,933 $ (58 ) $ 307,952 Obligations of U.S. States and Political Subdivisions 517,378 26,888 (531 ) 543,735 Foreign government 250,008 5,637 (437 ) 255,208 Corporate securities 7,279,391 132,481 (34,127 ) 7,377,745 ABS 378,906 6,145 (2,408 ) 382,643 CMBS 331,041 3,507 (1,065 ) 333,483 RMBS 188,055 2,849 (1,023 ) 189,881 Total fixed maturities $ 9,231,856 $ 198,440 $ (39,649 ) $ 9,390,647
Schedule for Fixed Income Securities Based on Contractual Maturities	The scheduled maturities for fixed maturities are as follows as of December 31, 2015: ($ in thousands) Amortized Fair Value Due in one year or less $ 190,261 $ 189,547 Due after one year through five years 1,461,237 1,459,059 Due after five years through ten years 2,148,851 2,092,046 Due after ten years 3,208,298 2,949,002 Total before asset and mortgage-backed securities 7,008,647 6,689,654 Asset and mortgage-backed securities 1,265,547 1,256,288 Total fixed maturities $ 8,274,194 $ 7,945,942
Schedule of Commercial Mortgage Loan Portfolio by Geographical Region	The Company diversifies its commercial mortgage loan portfolio by geographical region to reduce concentration risk. The following table presents the Company’s commercial mortgage loan portfolio by geographical region as of December 31, 2015 and December 31, 2014: ($ in thousands) December 31, December 31, Alabama $ 1,508 $ 1,720 Arizona 34,911 35,481 California 336,310 255,563 Colorado 57,207 22,381 Connecticut 25,374 — Florida 86,698 20,779 Georgia 67,213 27,502 Hawaii 7,134 8,125 Illinois 92,813 53,174 Iowa 1,266 1,490 Kansas 9,200 — Kentucky 7,696 8,260 Maine 3,905 4,114 Maryland 33,844 35,536 Massachusetts 90,897 92,963 Minnesota 148,346 52,496 Missouri — 9,324 Nevada 14,262 14,705 New Jersey 68,720 84,007 New York 94,985 72,625 North Carolina 58,078 31,111 Ohio 36,954 38,400 Oklahoma 10,803 10,835 Pennsylvania 41,975 37,688 South Carolina 2,532 3,130 Tennessee 5,278 5,719 Texas 107,279 103,778 Utah 44,366 45,914 Virginia 2,353 18,572 Washington 11,550 13,138 Wisconsin 5,675 6,637 General allowance for loan loss — — Total commercial mortgage loans $ 1,509,132 $ 1,115,167
Schedule of Credit Quality of Commercial Mortgage Loans Held-For-Investment	The credit quality of commercial mortgage loans held-for-investment were as follows at December 31, 2015 and December 31, 2014: Recorded Investment Debt Service Coverage Ratios December 31, 2015 ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total (In thousands) (In thousands) Loan-to-value ratios: Less than 65% $ 869,470 $ 85,869 $ 19,862 $ 975,201 64.6 % $ 1,000,948 65.1 % 65% to 75% 508,557 25,374 — 533,931 35.4 535,690 34.9 76% to 80% — — — — 0.0 — 0.0 Greater than 80% — — — — 0.0 — 0.0 Total $ 1,378,027 $ 111,243 $ 19,862 $ 1,509,132 100.0 % $ 1,536,638 100.0 % Recorded Investment Debt Service Coverage Ratios December 31, 2014 ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total (In thousands) (In thousands) Loan-to-value ratios: Less than 65% $ 930,592 $ 151,700 $ 29,460 $ 1,111,752 97.6 % $ 1,146,030 97.6 % 65% to 75% 16,591 10,537 — 27,128 2.4 28,275 2.4 76% to 80% — — — — 0.0 — 0.0 Greater than 80% — — — — 0.0 — 0.0 Total $ 947,183 $ 162,237 $ 29,460 $ 1,138,880 100.0 % $ 1,174,305 100.0 %
Composition of Other Invested Assets	The following table sets forth the composition of “Other invested assets” as of December 31, 2015 and December 31, 2014: Amortized Cost Successor Successor ($ in thousands) December 31, December 31, Low income housing tax credit properties $ 677 $ 896 Derivatives 17,735 26,001 $ 18,412 $ 26,897
Schedule of Net Investment Income	Net investment income for Successor Periods for the year ended December 31, 2015 and the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year For the Period from April 1, 2014 For the Period For the Year Fixed maturities $ 334,931 $ 231,972 $ 2,461 $ 11,545 Commercial mortgage loans 63,028 49,417 — — Cash, cash equivalents and short-term investments 511 4,786 16 23 Other investment (loss) income 9,543 7,353 — — Gross investment income 408,013 293,528 2,477 11,568 Investment expenses 9,082 4,957 127 633 Net investment income $ 398,931 $ 288,571 $ 2,350 $ 10,935
Schedule of Realized Investment Gains and Losses	Realized investment gains and losses for Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year For the Period For the Period For the Year Realized investment gains, net Fixed maturities $ 120,421 $ 25,795 $ 285 $ — Commercial mortgage loans 2,325 2,880 — — Derivatives (9,208 ) 17,417 — — Net realized gains $ 113,538 $ 46,092 $ 285 $ —
Proceeds from Sale of Fixed Maturities and Gross Realized Investment Gains and Losses	Proceeds from sales of fixed maturities and gross realized investment gains and losses for Successor Periods for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 and Predecessor Periods for the period from January 1, 2014 through March 31, 2014 and year ended December 31, 2013 were as follows: Successor Predecessor ($ in thousands) For the Year December 31, For the Period from April 1, 2014 For the Period 2014 For the Year Fixed maturities, available-for-sale Proceeds from sales $ 3,864,356 $ 1,429,177 $ 5,277 $ 9,170 Gross investment gains from sales 147,287 30,403 317 3 Gross investment losses from sales (26,829 ) (4,608 ) (32 ) (1 )
Summary of Gross Unrealized Losses and Fair Value of Fixed Income by Length of Time	The following table summarizes the gross unrealized losses and fair value of fixed maturities by the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2015 and December 31, 2014: Less than 12 months Greater than 12 months December 31, 2015 ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 18,639 $ (77 ) $ 98 $ (4 ) $ 18,737 $ (81 ) Obligations of U.S. States and Political Subdivisions 207,889 (6,983 ) 4,030 (35 ) 211,919 (7,018 ) Foreign government 41,507 (8,665 ) 5,965 (1,936 ) 47,472 (10,601 ) All other corporate securities 3,523,371 (293,131 ) 209,474 (60,018 ) 3,732,845 (353,149 ) ABS 397,884 (7,031 ) 15,040 (1,198 ) 412,924 (8,229 ) CMBS 437,244 (7,164 ) 8,419 (80 ) 445,663 (7,244 ) RMBS 65,470 (776 ) 29,659 (753 ) 95,129 (1,529 ) Total fixed income securities $ 4,692,004 $ (323,827 ) $ 272,685 $ (64,024 ) $ 4,964,689 $ (387,851 ) Less than 12 months Greater than 12 months December 31, 2014 ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 14,160 $ (58 ) $ — $ — $ 14,160 $ (58 ) Obligations of U.S. States and Political Subdivisions 57,605 (531 ) — — 57,605 (531 ) Foreign government 37,543 (437 ) — — 37,543 (437 ) All other corporate securities 1,683,186 (34,127 ) — — 1,683,186 (34,127 ) ABS 115,568 (2,408 ) — — 115,568 (2,408 ) CMBS 135,203 (1,065 ) — — 135,203 (1,065 ) RMBS 92,804 (1,023 ) — — 92,804 (1,023 ) Total fixed income securities $ 2,136,069 $ (39,649 ) $ — $ — $ 2,136,069 $ (39,649 )
Net Unrealized Investment Gains and Losses in AOCI	Net Unrealized Investment Gains and Losses in AOCI ($ in thousands) Predecessor Net Unrealized VOBA Future Policy Deferred Accumulated Other Balance, December 31, 2012 $ 21,236 $ — $ — $ (7,433 ) $ 13,803 Net investment gains and losses on investments arising during the period (15,281 ) — — 5,349 (9,932 ) Reclassification adjustment for gains and losses included in net income 1 — — — 1 Balance, December 31, 2013 $ 5,954 $ — $ — $ (2,084 ) $ 3,870 Net investment gains and losses on investments arising during the period 2,364 — — (828 ) 1,536 Reclassification adjustment for gains and losses included in net income 285 — — (100 ) 185 Balance, March 31, 2014 $ 8,033 $ — $ — $ (2,812 ) $ 5,221 Successor Balance, April 1, 2014 $ — $ — $ — $ — $ — Net investment gains and losses on investments arising during the period 159,261 — — (55,675 ) 103,586 Reclassification adjustment for gains and losses included in net income — — — — — Impact of net unrealized investment gains and losses on VOBA — (20,287 ) — 7,100 (13,187 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (7,541 ) 2,640 (4,901 ) Balance, December 31, 2014 $ 159,261 $ (20,287 ) $ (7,541 ) $ (45,935 ) $ 85,498 Net investment gains and losses on investments arising during the period (408,019 ) — — 142,807 (265,212 ) Reclassification adjustment for gains and losses included in net income 79,023 — — (27,658 ) 51,365 Impact of net unrealized investment gains and losses on VOBA — 57,061 — (19,971 ) 37,090 Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — 60,447 (21,157 ) 39,290 Balance, December 31, 2015 $ (327,781 ) $ 36,774 $ 52,906 $ 83,402 $ (154,699 )

Derivative Financial Instrume27

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Notional and Fair Value Positions of Derivative Instruments	The following table provides a summary of the notional and fair value positions of derivative financial instruments as of December 31, 2015 and 2014: ($ in thousands) Successor December 31, 2015 December 31, 2014 Gross Fair Value Gross Fair Value Notional Assets Liabilities Notional Assets Liabilities Assets Equity Options $ 879,853 $ 28,588 $ (10,961 ) $ 593,610 $ 68,776 $ (43,104 ) Futures 15,373 108 — 20,195 329 — Liabilities Policyholders account balances Derivatives embedded in life and annuity contracts Equity-indexed annuity contracts (2) $ 1,494,084 $ — $ (64,138 ) $ 1,734,264 $ — $ (63,660 ) Equity-indexed life contracts 401,511 — (11,701 ) 347,610 — (18,720 ) Guaranteed accumulation benefits (1) 95,752 — (7,499 ) 120,714 — (6,367 ) Guaranteed withdrawal benefits (1) 13,264 — (315 ) 17,102 — (366 ) (1) As of April 1, 2014, these amounts were ceded in accordance with the Company’s reinsurance agreements (2) Notional amount represents account value of equity indexed contracts
Amount and Location of Gains (Losses) Recognized in Income Net of Reinsurance for Derivatives Not Designated or Qualifying as Hedging Instruments	The following table presents the amount and location of gains (losses) recognized in income, net of reinsurance, for derivatives that were not designated or qualifying as hedging instruments for the Successor Period for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014: For the Year Ended For the Period from April 1, 2014 ($ in thousands) Realized Policyholder Realized Policyholder Assets Equity Options $ (7,557 ) $ — $ 15,230 $ — Futures (1,651 ) — 2,187 — Liabilities Policyholders’ account balances Equity-indexed annuity contracts $ — $ (478 ) $ — $ (5,622 ) Equity-indexed life contracts — 956 — 90 The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments for the Predecessor Period from January 1, 2014 through March 31, 2014 and for the year ended December 31, 2013: For the Period from January 1, For the Year Ended ($ in thousands) Interest Credited (1) Policyholder (1) Interest (1) Policyholder (1) Liabilities Policyholders’ account balances Derivatives embedded in life and annuity contracts $ 16,427 $ 946 $ 36,890 $ 10,177 (1) Prior to April 1, 2014, these amounts were ceded in accordance with the Company’s reinsurance agreements.

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Assets and Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis	The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and December 31, 2014. December 31, 2015 Description for Each Class of Asset or Liability ($ in thousands) Level 1 Level 2 Level 3 Total Assets at fair value Fixed maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 10,621 $ 157,957 $ — $ 168,578 Obligations of U.S. States and Political Subdivisions — 720,757 — 720,757 Foreign government — 61,643 — 61,643 All Other Corporate Securities — 5,727,155 11,520 5,738,675 ABS — 522,531 14,260 536,791 CMBS — 506,699 — 506,699 RMBS — 212,799 — 212,799 Short term investments 166,358 18,462 — 184,820 Other invested assets Equity Options 17,627 — — 17,627 Futures 108 — — 108 Separate accounts assets 1,395,141 — — 1,395,141 Total assets at fair value $ 1,589,855 $ 7,928,003 $ 25,780 $ 9,543,638 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (64,138 ) $ (64,138 ) Equity indexed life contracts — (11,701 ) — (11,701 ) Guaranteed minimum accumulation benefits — — (7,499 ) (7,499 ) Guaranteed minimum withdrawal benefits — — (315 ) (315 ) Separate accounts liabilities (1,395,141 ) — — (1,395,141 ) Total liabilities at fair value $ (1,395,141 ) $ (11,701 ) $ (71,952 ) $ (1,478,794 ) December 31, 2014 Description for Each Class of Asset or Liability ($ in thousands) Level 1 Level 2 Level 3 Total Assets at fair value Fixed maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 12,408 $ 295,544 $ — $ 307,952 Obligations of U.S. States and Political Subdivisions — 543,735 — 543,735 Foreign government — 255,208 — 255,208 All Other Corporate Securities — 7,370,409 7,336 7,377,745 ABS — 377,393 5,250 382,643 CMBS — 330,790 2,693 333,483 RMBS — 189,881 — 189,881 Short term investments 191,979 145,677 23,713 361,369 Other invested assets Equity Options 25,672 — — 25,672 Futures 329 — — 329 Separate accounts assets 1,573,865 — — 1,573,865 Total assets at fair value $ 1,804,253 $ 9,508,637 $ 38,992 $ 11,351,882 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (63,660 ) $ (63,660 ) Equity indexed life contracts — (18,720 ) — (18,720 ) Guaranteed minimum accumulation benefits — — (6,367 ) (6,367 ) Guaranteed minimum withdrawal benefits — — (366 ) (366 ) Separate accounts liabilities (1,573,865 ) — — (1,573,865 ) Total liabilities at fair value $ (1,573,865 ) $ (18,720 ) $ (70,393 ) $ (1,662,978 )
Summary of Quantitative Information About the Significant Unobservable Inputs Used in Level 3 Fair Value Measurements	The following table summarizes quantitative information about the significant unobservable inputs used in Level 3 fair value measurements: ($ in thousands) Fair Valuation Unobservable Range Weighted Equity indexed annuity contracts $ (64,138 ) Option Pricing Technique Projected Option Cost 1.40% - 2.11% 1.70%
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value on a Recurring Basis	The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014: ($ in thousands) Balance Net OCI Transfers Transfers Level 3 Purchases Sales Issues Settlements Balance, Assets Fixed income securities All other corporate securities $ 7,336 $ (282 ) $ 30 $ 13,255 $ (2,386 ) $ — $ — $ — $ (6,433 ) $ 11,520 ABS 5,250 134 (2,338 ) 17,191 — — (5,000 ) — (977 ) 14,260 CMBS 2,693 23,506 314 — — — (20,192 ) — (6,321 ) — Short-term investments 23,713 14 — — — — — — (23,727 ) — Liabilities Equity indexed annuity contracts (63,660 ) (478 ) — — — — — — — (64,138 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (6,733 ) (1,081 ) — — — — — — — (7,814 ) ($ in thousands) Balance April 1, Net OCI Transfers Transfers Purchases Sales Issues Settlements Balance, Assets Fixed income securities All other corporate securities $ 396,694 $ 4,514 $ (7,472 ) $ — $ (289,172 ) $ — $ (97,228 ) $ — $ — $ 7,336 ABS 436 — (55 ) — — 4,930 — — (61 ) 5,250 CMBS 3,397 2,179 (314 ) — — — — — (2,569 ) 2,693 Short-term investments 24,095 29 — — — — (411 ) — — 23,713 Liabilities Equity indexed annuity contracts (58,038 ) (5,622 ) — — — — — — — (63,660 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (8,499 ) 1,766 — — — — — — — (6,733 ) (1) These amount are 100% ceded in accordance with the Company’s reinsurance agreements.
Schedule of Carrying Value of Financial Instruments Presented in Consolidated Balance Sheet	The following table presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value. The financial instruments presented below are reported at carrying value on the Company’s Consolidated Balance Sheet; however, in some cases, as described below, the carrying amount equals or approximates fair value as of December 31, 2015 and December 31, 2014: December 31, 2015 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Commercial mortgage loans $ — $ — $ 1,536,638 $ 1,536,638 Policy loans — — 186,827 186,827 Cash 49,121 — — 49,121 Vehicle note — — 638,270 638,270 Total assets at fair value $ 49,121 $ — $ 2,361,735 $ 2,410,856 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,967,973 $ 5,967,973 Other long-term debt — — 638,270 638,270 $ — $ — $ 6,606,243 $ 6,606,243 December 31, 2014 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Commercial mortgage loans $ — $ — $ 1,150,510 $ 1,150,510 Policy loans — — 194,385 194,385 Cash 49,730 — — 49,730 Vehicle note — — 551,600 551,600 Total assets at fair value $ 49,730 $ — $ 1,896,495 $ 1,946,225 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 6,609,253 $ 6,609,253 Other long-term debt — — 551,600 551,600 $ — $ — $ 7,160,853 $ 7,160,853
Predecessor
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value on a Recurring Basis	The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the period from January 1, 2014 through March 31, 2014. ($ in thousands) Total gains (losses) included in: Balance as of December 31, Net income (1) OCI Transfers Level 3 Transfers out of Level 3 Liabilities Contractholder funds: Derivatives embedded in life and annuity contracts $ (267,859 ) $ 18,525 $ — $ — $ — Total recurring Level 3 liabilities $ (267,859 ) $ 18,525 $ — $ — $ — Purchases Sales Issues Settlements Balance as Liabilities Contractholder funds: Derivatives embedded in life and annuity contracts $ — $ — $ (3,764 ) $ 2,612 $ (250,486 ) Total recurring Level 3 liabilities $ — $ — $ (3,764 ) $ 2,612 $ (250,486 ) (1) The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $17.6 million in interest credited to contractholder funds and $946 thousand in contract benefits. These amounts were ceded in accordance with the Company’s reinsurance agreements. The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the year ended December 31, 2013. ($ in thousands) Total gains (losses) included in: Balance as of December 31, Net income (1) OCI Transfers Level 3 Transfers out of Level 3 Assets Fixed maturities: Corporate $ 312 $ — $ — $ — $ — Total recurring Level 3 assets $ 312 $ — $ — $ — $ — Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ (314,926 ) $ 43,244 $ — $ — $ — Total recurring Level 3 liabilities $ (314,926 ) $ 43,244 $ — $ — $ — Purchases Sales Issues Settlements Balance as Assets Fixed maturities: Corporate $ — $ — $ — $ (312 ) $ — Total recurring Level 3 assets $ — $ — $ — $ (312 ) $ — Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ — $ — $ (6,621 ) $ 10,444 $ (267,859 ) Total recurring Level 3 liabilities $ — $ — $ (6,621 ) $ 10,444 $ (267,859 ) (1) The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $33.0 million in interest credited to contractholder funds and $10.2 million in contract benefits. These amounts were ceded in accordance with the Company’s reinsurance agreements.
Schedule of Change in Unrealized Gains and Losses Included in Net Income for Level 3 Assets and Liabilities Held	The following table provides the change in unrealized gains and losses included in net income for Level 3 assets and liabilities. ($ in thousands) Period from As of December 31, 2013 Liabilities Policyholders’ account balances: Derivatives embedded in life and annuity contracts $ 18,525 $ 43,244 Total recurring Level 3 liabilities $ 18,525 $ 43,244

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Effects of Reinsurance on Premiums and Contract Charges	The effects of reinsurance on premiums earned and fee income from policyholders for the Successor Period for the year ended December 31, 2015 and for the period April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Direct $ 1,463,472 $ 921,444 Assumed 5,939 5,258 Ceded (1,106,638 ) (702,833 ) Premiums and fee income, net of reinsurance $ 362,773 $ 223,869
Schedule of Effects of Reinsurance on Interest Credited to Contractholder Funds, Contract Benefits and Expenses	The effects of reinsurance on return credited to policyholders’ account balances, and policyholder benefits for the year ended December 31, 2015 and for the period April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Direct $ 1,603,724 $ 1,104,420 Assumed 6,743 4,713 Ceded (957,643 ) (635,887 ) Return credited to policyholders’ account balances, and policyholders’ benefits, net of reinsurance $ 652,824 $ 473,246
Predecessor
Schedule of Effects of Reinsurance on Premiums and Contract Charges	The effects of reinsurance on premiums and contract charges are as follows: ($ in thousands) Period from January 1, 2014 2013 Direct $ 331,899 $ 1,331,597 Assumed 1,581 6,830 Ceded: Affiliate (244,797 ) (962,576 ) Non-affiliate (88,683 ) (375,851 ) Premiums and fee income, net of reinsurance $ — $ —
Schedule of Effects of Reinsurance on Interest Credited to Contractholder Funds, Contract Benefits and Expenses	The effects of reinsurance on return credited to policyholders’ account balances, policyholder benefits and other expenses are as follows: ($ in thousands) Period from January 1, 2014 2013 Direct $ 450,041 $ 1,938,015 Assumed 2,606 8,180 Ceded: Affiliate (336,122 ) (1,505,010 ) Non-affiliate (116,525 ) (441,185 ) Return credited to policyholders, contract benefits and expenses, net of reinsurance $ — $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Components of Deferred Income Tax Assets and Liabilities	The components of the deferred income tax assets and liabilities as of December 31, 2015 and December 31, 2014 are as follows: ($ in thousands) December 31, 2015 December 31, 2014 Deferred tax assets Policyholder reserves $ 2,058,446 $ 2,057,627 Deferred acquisition costs 41,664 24,850 Deferred financing costs 8,707 10,755 Net operating loss carryforward — 7,500 Investments 120,893 — Other assets 688 38 Total deferred tax assets $ 2,230,398 $ 2,100,770 Deferred tax liabilities Value of business acquired $ (86,696 ) $ (81,032 ) Amounts recoverable from reinsurers (2,076,251 ) (2,010,157 ) Investments — (45,935 ) Intangibles (1,820 ) (1,820 ) Other liabilities (591 ) (2,558 ) Total deferred tax liabilities $ (2,165,358 ) $ (2,141,502 ) Net deferred tax asset/(liability) $ 65,040 $ (40,732 )
Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate	A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations for the year ended December 31, 2015 and for the period from April 1, 2014 through December 31, 2014 were as follows: ($ in thousands) For the Year For the Period from Expected federal income tax expense 45,062 $ 15,722 Dividends received deduction (2,443 ) (1,470 ) Other 3,475 (18 ) Total income tax expense $ 46,094 $ 14,234
Predecessor
Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate	A reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations is as follows: Period from January 1, 2014 2013 Statutory federal income tax rate 35.0 % 35.0 % Other — — Effective income tax rate 35.0 % 35.0 %
Components of Income Tax Expense	The components of income tax expense are as follows: ($ in thousands) Period from January 1, 2014 2013 Current $ 914 $ 3,902 Deferred 8 (77 ) Total income tax expense $ 922 $ 3,825

Future Policy Benefits and Ot31

Future Policy Benefits and Other Policyholder Liabilities - Successor (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Future Policy Benefits and Other Policyholder Liabilities	Life insurance liabilities include reserves for death benefits and other policy benefits. As of December 31, 2015 and 2014, future policy benefits and other policyholder liabilities consisted of the following: ($ in thousands) December 31, 2015 December 31, 2014 Traditional life insurance $ 1,567,388 $ 1,492,438 Immediate fixed annuities 584,948 635,858 Accident and health insurance 1,580,809 1,462,110 Equity indexed annuities 38,739 39,174 Other 985,757 899,369 Total $ 4,757,641 $ 4,528,949

Policyholder Account Balances32

Policyholder Account Balances - Successor (Tables)	12 Months Ended
	Dec. 31, 2015
Policyholder Account Balances	As of December 31, 2015 and 2014, policyholders’ account balances consisted of the following: ($ in thousands) December 31, 2015 December 31, 2014 Interest-sensitive life contracts $ 5,210,152 $ 5,085,470 Individual annuities 5,896,019 6,662,985 Other 14,394 15,857 Total policyholders’ account balances $ 11,120,565 $ 11,764,312

Certain Nontraditional Long-D33

Certain Nontraditional Long-Duration Contracts - Successor (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Variable Annuity Contracts	As of December 31, 2015 and December 31, 2014, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2015 ($ in millions) In the Event of At For Cumulative Accumulation Variable Annuity Contracts Separate account value $ 608.8 $ 127.4 $ 12.8 $ 91.6 Net amount at risk $ 66.3 $ 16.9 $ 0.1 $ 7.4 Average attained age of contractholders 61 years N/A N/A N/A Weighted average waiting period until guarantee date N/A None N/A 5 years Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 307.3 General account value $ 3,639.6 Net amount at risk $ 84,370.9 Average attained age of contractholders 48 years As of December 31, 2014, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2014 ($ in millions) In the Event of At For Cumulative Accumulation Variable Annuity Contracts Separate account value $ 742.7 $ 151.9 $ 16.6 $ 118.4 Net amount at risk $ 57.2 $ 15.2 $ 0.1 $ 6.2 Average attained age of contractholders 60 years N/A N/A N/A Weighted average waiting period until guarantee date N/A None N/A 6 years Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 325.1 General account value $ 3,518.3 Net amount at risk $ 89,942.8 Average attained age of contractholders 51 years
Liabilities for Guarantee Benefits	The table below summarizes the changes in general account liabilities for guarantees on variable contracts. GMDB GMIB GMWB/ Secondary ($ in thousands) Variable Variable Variable Interest- Total Predecessor Net balance as of December 31, 2013 $ — $ — $ — $ — $ — Plus reinsurance recoverable 8,444 8,743 9,444 281,771 308,402 Balance as of December 31, 2013 $ 8,444 $ 8,743 $ 9,444 $ 281,771 $ 308,402 Less: reinsurance recoverable 8,444 8,743 9,444 281,771 308,402 Net balance as of December 31, 2013 — — — — — Incurred guarantee benefits — — — — — Paid guarantee benefits — — — — — Net change — — — — — Net balance as of March 31, 2014 — — — — — Plus reinsurance recoverable 8,057 7,122 8,499 293,704 317,382 Balance as of March 31, 2014 $ 8,057 $ 7,122 $ 8,499 $ 293,704 $ 317,382 Successor Balance as of April 1, 2014 $ 8,057 $ 7,122 $ 8,499 $ 552,163 $ 575,841 Less: reinsurance recoverable 8,057 7,122 8,499 67,288 90,966 Net balance as of April 1, 2014 — — — 484,875 484,875 Incurred guarantee benefits — — — 159,104 159,104 Paid guarantee benefits — — — (108,252 ) (108,252 ) Net change — — — 50,852 50,852 Net balance as of December 31, 2014 — — — 535,727 535,727 Plus reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Balance as of December 31, 2014 $ 8,358 $ 8,240 $ 6,733 $ 619,460 $ 642,791 Less: reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Net balance as of December 31, 2014 — — — 535,727 535,727 Incurred guarantee benefits — — — 217,626 217,626 Paid guarantee benefits — — — (118,063 ) (118,063 ) Net change — — — 99,563 99,563 Net balance as of December 31, 2015 — — — 635,290 635,290 Plus reinsurance recoverable 8,844 5,663 7,814 100,317 122,638 Balance as of December 31, 2015 $ 8,844 $ 5,663 $ 7,814 $ 735,607 $ 757,928

Value of Business Acquired - 34

Value of Business Acquired - Successor (Tables)	12 Months Ended
	Dec. 31, 2015
Changes to Value of Business Acquired	The following reflects the changes to the VOBA asset: ($ in thousands) For the Year For the Period from Balance at beginning of period $ 231,521 $ 290,795 Business acquired — — Amortized to expense during the year (1) (40,880 ) (38,987 ) Adjustment for unrealized investment losses during the year 57,061 (20,287 ) Balance at end of year $ 247,702 $ 231,521 (1) Amount is included in Operating and Acquisition Expenses on the Consolidated Statements of Operations and Other Comprehensive Income (Loss)
Estimated Percentage of VOBA Balance to Be Amortized	The following table provides estimated percentage of the VOBA balance to be amortized for the years indicated: VOBA 2016 14 % 2017 12 % 2018 10 % 2019 8 % 2020 and thereafter 56 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Minimum Aggregate Rental Commitments	The minimum aggregate rental commitments as of December 31, 2015 were as follows: ($ in thousands) 2015 $ 194 2016 207 2017 212 2018 217 2019 222 All future years 1,489 Aggregate total $ 2,541

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables/ (Payables) to Affiliates	The Company reported the following receivables/ (payables) to affiliates as of December 31, 2015 and December 31, 2014 ($ in thousands): December 31, 2015 December 31, 2014 Resolution $ (2,623 ) $ (4,509 ) Lanis $ (1,742 ) $ (1,564 )
Predecessor
Schedule of Ceded Reinsurance Agreements Reported in Statements of Operations and Comprehensive Income	The following table summarizes amounts that were ceded to ALIC under reinsurance agreements and reported net in the Statements of Operations and Comprehensive Income. ($ in thousands) Period from January 1, 2014 2013 Premiums and contract charges $ 244,797 $ 962,576 Interest credited to contractholder funds, contract benefits and expenses 336,122 1,505,010

General - Additional Informatio

General - Additional Information (Detail) - USD ($) $ in Millions	Apr. 01, 2014	Jul. 17, 2013
Organization and Summary of Significant Accounting Policies Disclosure [Line Items]
Initial purchase price, subject to closing adjustments	$ 595.8
Increase in assets	1,330
Increase in liabilities	$ 190
Predecessor
Organization and Summary of Significant Accounting Policies Disclosure [Line Items]
Ownership interest acquired		100.00%

Fair Value of Assets Acquired a

Fair Value of Assets Acquired and Liabilities Assumed (Detail) $ in Thousands	Apr. 01, 2014USD ($)
Assets
Fixed maturities	$ 9,194,903
Commercial mortgage loans	1,263,902
Policy loans	196,451
Short-term investments	979,728
Other invested assets	1,104
Cash	40,529
Accrued investment income	103,246
Reinsurance recoverable	5,606,879
Value of business acquired	290,795
Deposit receivable	1,550,351
Intangibles	5,200
Other assets	554,176
Separate account assets	1,661,007
Total assets acquired	21,448,271
Liabilities
Future policy benefits and other policyholder liabilities	6,682,833
Policyholders' account balances	10,367,246
Accrued expenses and other liabilities	78,026
Modified coinsurance payable	1,550,351
Other long-term debt - affiliate	513,000
Separate account liabilities	1,661,007
Total liabilities assumed	20,852,463
Net assets acquired	$ 595,808

Significant Accounting Polici39

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Apr. 01, 2014
Summary Of Significant Accounting Policies [Line Items]
Future Policy Benefit Reserves		$ 1,900
Increase in surplus note and vehicle note	$ 38.6	57.1
Interest rate on surplus note			4.00%
Interest expense on surplus note	$ 15.7	$ 22.9
Lancaster
Summary Of Significant Accounting Policies [Line Items]
Surplus note re issued			$ 513
Other Assets | Lancaster
Summary Of Significant Accounting Policies [Line Items]
Vehicle Note acquired			$ 513

Schedule for Fixed Income Secur

Schedule for Fixed Income Securities at Amortized Cost, Gross Unrealized Gains and Losses and Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 8,274,194	$ 9,231,856
Gross Unrealized Gains	59,599	198,440
Gross Unrealized Losses	(387,851)	(39,649)
Fair Value	7,945,942	9,390,647
U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	163,096	287,077
Gross Unrealized Gains	5,563	20,933
Gross Unrealized Losses	(81)	(58)
Fair Value	168,578	307,952
Obligations of U.S. States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	712,948	517,378
Gross Unrealized Gains	14,827	26,888
Gross Unrealized Losses	(7,018)	(531)
Fair Value	720,757	543,735
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	72,042	250,008
Gross Unrealized Gains	202	5,637
Gross Unrealized Losses	(10,601)	(437)
Fair Value	61,643	255,208
All other corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,060,561	7,279,391
Gross Unrealized Gains	31,263	132,481
Gross Unrealized Losses	(353,149)	(34,127)
Fair Value	5,738,675	7,377,745
Asset-backed securities ("ABS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	542,503	378,906
Gross Unrealized Gains	2,517	6,145
Gross Unrealized Losses	(8,229)	(2,408)
Fair Value	536,791	382,643
Commercial mortgage-backed securities ("CMBS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	513,316	331,041
Gross Unrealized Gains	627	3,507
Gross Unrealized Losses	(7,244)	(1,065)
Fair Value	506,699	333,483
Residential mortgage-backed securities ("RMBS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	209,728	188,055
Gross Unrealized Gains	4,600	2,849
Gross Unrealized Losses	(1,529)	(1,023)
Fair Value	$ 212,799	$ 189,881

Schedule for Fixed Income Sec41

Schedule for Fixed Income Securities Based on Contractual Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized cost
Due in one year or less	$ 190,261
Due after one year through five years	1,461,237
Due after five years through ten years	2,148,851
Due after ten years	3,208,298
Total before asset and mortgage-backed securities	7,008,647
Asset and mortgage-backed securities	1,265,547
Amortized Cost	8,274,194	$ 9,231,856
Fair value
Due in one year or less	189,547
Due after one year through five years	1,459,059
Due after five years through ten years	2,092,046
Due after ten years	2,949,002
Total before asset and mortgage-backed securities	6,689,654
Asset and mortgage-backed securities	1,256,288
Total fixed maturities	$ 7,945,942	$ 9,390,647

Schedule of Commercial Mortgage

Schedule of Commercial Mortgage Loan Portfolio by Geographical Region (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	$ 1,509,132	$ 1,115,167
General allowance for loan loss	0	0
Total commercial mortgage loans	1,509,132	1,115,167
ALABAMA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	1,508	1,720
ARIZONA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	34,911	35,481
CALIFORNIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	336,310	255,563
COLORADO
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	57,207	22,381
CONNECTICUT
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	25,374
FLORIDA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	86,698	20,779
GEORGIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	67,213	27,502
HAWAII
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	7,134	8,125
ILLINOIS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	92,813	53,174
IOWA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	1,266	1,490
KANSAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	9,200
KENTUCKY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	7,696	8,260
MAINE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	3,905	4,114
MARYLAND
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	33,844	35,536
MASSACHUSETTS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	90,897	92,963
MINNESOTA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	148,346	52,496
MISSOURI
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		9,324
NEVADA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	14,262	14,705
NEW JERSEY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	68,720	84,007
NEW YORK
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	94,985	72,625
NORTH CAROLINA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	58,078	31,111
OHIO
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	36,954	38,400
OKLAHOMA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	10,803	10,835
PENNSYLVANIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	41,975	37,688
SOUTH CAROLINA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	2,532	3,130
TENNESSEE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	5,278	5,719
TEXAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	107,279	103,778
UTAH
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	44,366	45,914
VIRGINIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	2,353	18,572
Washington
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	11,550	13,138
WISCONSIN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	$ 5,675	$ 6,637

Schedule of Credit Quality of C

Schedule of Credit Quality of Commercial Mortgage Loans Held-For-Investment (Detail) - Commercial Mortgage Loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 1,509,132	$ 1,138,880
Estimated Fair Value	$ 1,536,638	$ 1,174,305
Recorded Investment, % of Total	100.00%	100.00%
Estimated Fair Value, % of Total	100.00%	100.00%
Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 1,378,027	$ 947,183
Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	111,243	162,237
Debt Service Coverage Ratio Less than 1.00x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	19,862	29,460
Loan To Value Ratio Less Than 65%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	975,201	1,111,752
Estimated Fair Value	$ 1,000,948	$ 1,146,030
Recorded Investment, % of Total	64.60%	97.60%
Estimated Fair Value, % of Total	65.10%	97.60%
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 869,470	$ 930,592
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	85,869	151,700
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio Less than 1.00x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	19,862	29,460
Loan To Value Ratio 65% to 75%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	533,931	27,128
Estimated Fair Value	$ 535,690	$ 28,275
Recorded Investment, % of Total	35.40%	2.40%
Estimated Fair Value, % of Total	34.90%	2.40%
Loan To Value Ratio 65% to 75% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 508,557	$ 16,591
Loan To Value Ratio 65% to 75% | Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 25,374	$ 10,537
Loan To Value Ratio 76% to 80%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, % of Total	0.00%	0.00%
Estimated Fair Value, % of Total	0.00%	0.00%
Loan To Value Ratio Greater than 80%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, % of Total	0.00%	0.00%
Estimated Fair Value, % of Total	0.00%	0.00%

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Schedule of Investments [Line Items]
Commercial Mortgage Loan		$ 1,139,000,000	$ 1,509,000,000
Other-than-temporary impairment losses included in accumulated other comprehensive income		0
Taxable exchanges		3,000,000	72,400,000
Commercial Mortgage Loans
Schedule of Investments [Line Items]
Allowance for credit losses		0	0
Impaired loans		0	0
Commitments to fund borrowers troubled debt restructuring		0	0
Residential mortgage-backed securities ("RMBS")
Schedule of Investments [Line Items]
Other-than-temporary impairment losses		$ 0	$ 0
Predecessor | Residential mortgage-backed securities ("RMBS")
Schedule of Investments [Line Items]
Other-than-temporary impairment losses	$ 0			$ 2,000

Other Invested Assets (Detail)

Other Invested Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Line Items]
Other invested assets	$ 18,412	$ 26,897
Low Income Housing Tax Credit Properties
Schedule of Investments [Line Items]
Other invested assets	677	896
Derivative
Schedule of Investments [Line Items]
Other invested assets	$ 17,735	$ 26,001

Schedule of Net Investment Inco

Schedule of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense		$ 293,528	$ 408,013
Investment expenses		4,957	9,082
Net investment income		288,571	398,931
Fixed income securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense		231,972	334,931
Commercial Mortgage Loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense		49,417	63,028
Cash And Short Term Investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense		4,786	511
Other investment (loss) income
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense		$ 7,353	$ 9,543
Predecessor
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	$ 2,477			$ 11,568
Investment expenses	127			633
Net investment income	2,350			10,935
Predecessor | Fixed income securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	2,461			11,545
Predecessor | Cash And Short Term Investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	$ 16			$ 23

Schedule of Realized Investment

Schedule of Realized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Investment Realized gains (losses)
Net realized gains		$ 46,092	$ 113,538
Fixed income securities
Investment Realized gains (losses)
Net realized gains		25,795	120,421
Commercial Mortgage Loans
Investment Realized gains (losses)
Net realized gains		2,880	2,325
Derivative
Investment Realized gains (losses)
Net realized gains		$ 17,417	$ (9,208)
Predecessor
Investment Realized gains (losses)
Net realized gains	$ 285
Predecessor | Fixed income securities
Investment Realized gains (losses)
Net realized gains	$ 285

Proceeds from Sale of Fixed Mat

Proceeds from Sale of Fixed Maturities and Gross Realized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale Proceeds from sales		$ 1,429,177	$ 3,864,356
Fixed maturities, available-for-sale, Gross investment gains from sales		30,403	147,287
Fixed maturities, available-for-sale, Gross investment losses from sales		$ (4,608)	$ (26,829)
Predecessor
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale Proceeds from sales	$ 5,277			$ 9,170
Fixed maturities, available-for-sale, Gross investment gains from sales	317			3
Fixed maturities, available-for-sale, Gross investment losses from sales	$ (32)			$ (1)

Summary of Gross Unrealized Los

Summary of Gross Unrealized Losses and Fair Value of Fixed Maturities by Length of Time (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	$ 4,692,004	$ 2,136,069
Unrealized losses, continuous unrealized loss position for less than 12 months	(323,827)	(39,649)
Fair value, continuous unrealized loss position for Greater 12 months	272,685
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(64,024)
Fair Value	4,964,689	2,136,069
Gross Unrealized Losses	(387,851)	(39,649)
U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	18,639	14,160
Unrealized losses, continuous unrealized loss position for less than 12 months	(77)	(58)
Fair value, continuous unrealized loss position for Greater 12 months	98
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(4)
Fair Value	18,737	14,160
Gross Unrealized Losses	(81)	(58)
Obligations of U.S. States and Political Subdivisions
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	207,889	57,605
Unrealized losses, continuous unrealized loss position for less than 12 months	(6,983)	(531)
Fair value, continuous unrealized loss position for Greater 12 months	4,030
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(35)
Fair Value	211,919	57,605
Gross Unrealized Losses	(7,018)	(531)
Foreign government
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	41,507	37,543
Unrealized losses, continuous unrealized loss position for less than 12 months	(8,665)	(437)
Fair value, continuous unrealized loss position for Greater 12 months	5,965
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(1,936)
Fair Value	47,472	37,543
Gross Unrealized Losses	(10,601)	(437)
All other corporate securities
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	3,523,371	1,683,186
Unrealized losses, continuous unrealized loss position for less than 12 months	(293,131)	(34,127)
Fair value, continuous unrealized loss position for Greater 12 months	209,474
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(60,018)
Fair Value	3,732,845	1,683,186
Gross Unrealized Losses	(353,149)	(34,127)
Asset-backed securities ("ABS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	397,884	115,568
Unrealized losses, continuous unrealized loss position for less than 12 months	(7,031)	(2,408)
Fair value, continuous unrealized loss position for Greater 12 months	15,040
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(1,198)
Fair Value	412,924	115,568
Gross Unrealized Losses	(8,229)	(2,408)
Commercial mortgage-backed securities ("CMBS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	437,244	135,203
Unrealized losses, continuous unrealized loss position for less than 12 months	(7,164)	(1,065)
Fair value, continuous unrealized loss position for Greater 12 months	8,419
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(80)
Fair Value	445,663	135,203
Gross Unrealized Losses	(7,244)	(1,065)
Residential mortgage-backed securities ("RMBS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	65,470	92,804
Unrealized losses, continuous unrealized loss position for less than 12 months	(776)	(1,023)
Fair value, continuous unrealized loss position for Greater 12 months	29,659
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(753)
Fair Value	95,129	92,804
Gross Unrealized Losses	$ (1,529)	$ (1,023)

Net Unrealized Investment Gains

Net Unrealized Investment Gains and Losses in Accumulated other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Net Unrealized Gains Losses on Investment Securities
Schedule of Investments [Line Items]
Balance			$ 159,261
Net investment gains and losses on investments arising during the period		$ 159,261	(408,019)
Reclassification adjustment for gains and losses included in net income			79,023
Balance		159,261	(327,781)
Value of Business Acquired
Schedule of Investments [Line Items]
Balance			(20,287)
Impact of net unrealized investment gains and losses on VOBA		(20,287)	57,061
Balance		(20,287)	36,774
Future Policy Benefits and Policyholders' Account Balances
Schedule of Investments [Line Items]
Balance			(7,541)
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances		(7,541)	60,447
Balance		(7,541)	52,906
Deferred Income Tax (Liability) Asset
Schedule of Investments [Line Items]
Balance			(45,935)
Net investment gains and losses on investments arising during the period		(55,675)	142,807
Reclassification adjustment for gains and losses included in net income			(27,658)
Impact of net unrealized investment gains and losses on VOBA		7,100	(19,971)
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances		2,640	(21,157)
Balance		(45,935)	83,402
Accumulated Net Unrealized Investment Gain (Loss)
Schedule of Investments [Line Items]
Balance			85,498
Net investment gains and losses on investments arising during the period		103,586	(265,212)
Reclassification adjustment for gains and losses included in net income			51,365
Impact of net unrealized investment gains and losses on VOBA		(13,187)	37,090
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances		(4,901)	39,290
Balance		85,498	$ (154,699)
Predecessor | Net Unrealized Gains Losses on Investment Securities
Schedule of Investments [Line Items]
Balance	$ 5,954	8,033		$ 21,236
Net investment gains and losses on investments arising during the period	2,364			(15,281)
Reclassification adjustment for gains and losses included in net income	285			1
Balance	8,033			5,954
Predecessor | Deferred Income Tax (Liability) Asset
Schedule of Investments [Line Items]
Balance	(2,084)	(2,812)		(7,433)
Net investment gains and losses on investments arising during the period	(828)			5,349
Reclassification adjustment for gains and losses included in net income	(100)
Balance	(2,812)			(2,084)
Predecessor | Accumulated Net Unrealized Investment Gain (Loss)
Schedule of Investments [Line Items]
Balance	3,870	$ 5,221		13,803
Net investment gains and losses on investments arising during the period	1,536			(9,932)
Reclassification adjustment for gains and losses included in net income	185			1
Balance	$ 5,221			$ 3,870

Summary of Volume and Fair Valu

Summary of Volume and Fair Value Position of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Contractholder funds | Guaranteed accumulation benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	[1]	$ 95,752	$ 120,714
Gross Fair Value, Liabilities	[1]	(7,499)	(6,367)
Contractholder funds | Guaranteed withdrawal benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	[1]	13,264	17,102
Gross Fair Value, Liabilities	[1]	(315)	(366)
Contractholder funds | Equity-indexed annuity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	[2]	1,494,084	1,734,264
Gross Fair Value, Liabilities	[2]	(64,138)	(63,660)
Contractholder funds | Equity-indexed life contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional		401,511	347,610
Gross Fair Value, Liabilities		(11,701)	(18,720)
Equity Options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional		879,853	593,610
Gross Fair Value, Assets		28,588	68,776
Gross Fair Value, Liabilities		(10,961)	(43,104)
Future
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional		15,373	20,195
Gross Fair Value, Assets		$ 108	$ 329
[1]	As of April 1, 2014, these amounts were ceded in accordance with the Company's reinsurance agreements
[2]	Notional amount represents account value of equity indexed contracts

Derivative Financial Instrume52

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative cash and securities collateral held	$ 0.8	$ 6.4

Amount and Location of Gains (L

Amount and Location of Gains (Losses) Recognized in Income for Derivatives Not Designated or Qualifying as Hedging Instruments (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
		Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Policyholders' Benefits			$ 216,543	$ 351,744
Equity-indexed life contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Policyholders' Benefits			90	956
Derivatives not designated as accounting hedging instruments | Equity Options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized Investment Gains (Losses)			15,230	(7,557)
Derivatives not designated as accounting hedging instruments | Future
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized Investment Gains (Losses)			2,187	(1,651)
Derivatives not designated as accounting hedging instruments | Equity-indexed annuity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Policyholders' Benefits			$ (5,622)	$ (478)
Derivatives not designated as accounting hedging instruments | Predecessor | Life and Annuity Insurance Product Line
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Credited	[1]	$ 16,427			$ 36,890
Policyholders' Benefits	[1]	$ 946			$ 10,177
[1]	Prior to April 1, 2014, these amounts were ceded in accordance with the Company's reinsurance agreements.

Summary of Assets and Liabiliti

Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets at fair value
Fixed income securities	$ 7,945,942	$ 9,390,647
Short-term investments	184,820	361,369
Other invested assets	18,412	26,897
Separate accounts assets	1,395,141	1,573,865
Total assets at fair value	9,543,638	11,351,882
Liabilities at fair value
Separate accounts liabilities	(1,395,141)	(1,573,865)
Total liabilities at fair value	(1,478,794)	(1,662,978)
Guaranteed accumulation benefits
Liabilities at fair value
Policyholders' account balances	(7,499)	(6,367)
Guaranteed withdrawal benefits
Liabilities at fair value
Policyholders' account balances	(315)	(366)
Asset-backed securities ("ABS")
Assets at fair value
Fixed income securities	536,791	382,643
Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed income securities	506,699	333,483
Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed income securities	212,799	189,881
Equity indexed annuity contracts
Liabilities at fair value
Policyholders' account balances	(64,138)	(63,660)
Equity indexed life contracts
Liabilities at fair value
Policyholders' account balances	(11,701)	(18,720)
Foreign government
Assets at fair value
Fixed income securities	61,643	255,208
Recurring basis
Assets at fair value
Short-term investments	184,820	361,369
Separate accounts assets	1,395,141	1,573,865
Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed income securities	168,578	307,952
Recurring basis | States, municipalities and political subdivisions
Assets at fair value
Fixed income securities	720,757	543,735
Recurring basis | All other corporate bonds
Assets at fair value
Fixed income securities	5,738,675	7,377,745
Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed income securities	536,791	382,643
Recurring basis | Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed income securities	506,699	333,483
Recurring basis | Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed income securities	212,799	189,881
Recurring basis | Equity Options
Assets at fair value
Other invested assets	17,627	25,672
Recurring basis | Future
Assets at fair value
Other invested assets	108	329
Recurring basis | Foreign government
Assets at fair value
Fixed income securities	61,643	255,208
Quoted prices in active markets for identical assets (Level 1)
Assets at fair value
Total assets at fair value	1,589,855	1,804,253
Liabilities at fair value
Separate accounts liabilities	(1,395,141)	(1,573,865)
Total liabilities at fair value	(1,395,141)	(1,573,865)
Quoted prices in active markets for identical assets (Level 1) | Recurring basis
Assets at fair value
Short-term investments	166,358	191,979
Separate accounts assets	1,395,141	1,573,865
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed income securities	10,621	12,408
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | Equity Options
Assets at fair value
Other invested assets	17,627	25,672
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | Future
Assets at fair value
Other invested assets	108	329
Significant other observable inputs (Level 2)
Assets at fair value
Total assets at fair value	7,928,003	9,508,637
Liabilities at fair value
Total liabilities at fair value	(11,701)	(18,720)
Significant other observable inputs (Level 2) | Equity indexed life contracts
Liabilities at fair value
Policyholders' account balances	(11,701)	(18,720)
Significant other observable inputs (Level 2) | Recurring basis
Assets at fair value
Short-term investments	18,462	145,677
Significant other observable inputs (Level 2) | Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed income securities	157,957	295,544
Significant other observable inputs (Level 2) | Recurring basis | States, municipalities and political subdivisions
Assets at fair value
Fixed income securities	720,757	543,735
Significant other observable inputs (Level 2) | Recurring basis | All other corporate bonds
Assets at fair value
Fixed income securities	5,727,155	7,370,409
Significant other observable inputs (Level 2) | Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed income securities	522,531	377,393
Significant other observable inputs (Level 2) | Recurring basis | Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed income securities	506,699	330,790
Significant other observable inputs (Level 2) | Recurring basis | Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed income securities	212,799	189,881
Significant other observable inputs (Level 2) | Recurring basis | Foreign government
Assets at fair value
Fixed income securities	61,643	255,208
Significant unobservable inputs (Level 3)
Assets at fair value
Total assets at fair value	25,780	38,992
Liabilities at fair value
Total liabilities at fair value	(71,952)	(70,393)
Significant unobservable inputs (Level 3) | Guaranteed accumulation benefits
Liabilities at fair value
Policyholders' account balances	(7,499)	(6,367)
Significant unobservable inputs (Level 3) | Guaranteed withdrawal benefits
Liabilities at fair value
Policyholders' account balances	(315)	(366)
Significant unobservable inputs (Level 3) | Equity indexed annuity contracts
Liabilities at fair value
Policyholders' account balances	(64,138)	(63,660)
Significant unobservable inputs (Level 3) | Recurring basis
Assets at fair value
Short-term investments		23,713
Significant unobservable inputs (Level 3) | Recurring basis | All other corporate bonds
Assets at fair value
Fixed income securities	11,520	7,336
Significant unobservable inputs (Level 3) | Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed income securities	$ 14,260	5,250
Significant unobservable inputs (Level 3) | Recurring basis | Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed income securities		$ 2,693

Summary of Quantitative Informa

Summary of Quantitative Information About Significant Unobservable Inputs Used in Level Three Fair Value Measurements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value, liability	$ (1,478,794)	$ (1,662,978)
Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value, liability	$ (64,138)
Minimum | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	1.40%
Maximum | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	2.11%
Weighted average | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	1.70%

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Line Items]
Fair value reinsurement rate			100.00%
Quoted prices in active markets for identical assets (Level 1)
Fair Value Disclosures [Line Items]
Fair value measurement of investment			$ 26,000	$ 15,000
Predecessor
Fair Value Disclosures [Line Items]
Gains (losses) for Level 3 assets still held at the balance sheet date, included in interest credited to contract holder funds	$ 17,600	$ 33,000
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in life and annuity contract benefits	$ 946	$ 10,200

Schedule of Rollforward of Leve

Schedule of Rollforward of Level Three Assets and Liabilities Held at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended	12 Months Ended
		Mar. 31, 2014		Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Equity indexed annuity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period				$ (58,038)	$ (63,660)
Level 3 liabilities, Total gains (losses) included in net income				(5,622)	(478)
Level 3 liabilities, Total gains (losses) included in OCI				0	0
Level 3 liabilities, Transfers into Level 3				0	0
Level 3 liabilities, Transfers out of Level 3				0	0
Level 3 liabilities, Purchases				0	0
Level 3 liabilities, Sales				0	0
Level 3 liabilities, Balance at end of period		$ (58,038)		(63,660)	(64,138)
Asset-backed securities ("ABS")
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period				436	5,250
Level 3 assets, Total gains (losses) included in net income					134
Level 3 assets, Total gains (losses) included in OCI				(55)	(2,338)
Level 3 assets, Transfers into Level 3					17,191
Level 3 assets, Purchases				4,930
Level 3 assets, Sales					(5,000)
Level 3 assets, Issues				0	0
Level 3 assets, Settlements				(61)	(977)
Level 3 assets, Balance at end of period		436		5,250	14,260
GMWB/GMAB
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period	[1]			(8,499)	(6,733)
Level 3 liabilities, Total gains (losses) included in net income	[1]			1,766	(1,081)
Level 3 liabilities, Total gains (losses) included in OCI	[1]			0	0
Level 3 liabilities, Transfers into Level 3	[1]			0	0
Level 3 liabilities, Transfers out of Level 3	[1]			0	0
Level 3 liabilities, Purchases	[1]			0	0
Level 3 liabilities, Sales	[1]			0	0
Level 3 liabilities, Balance at end of period	[1]	(8,499)		(6,733)	(7,814)
All other corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period				396,694	7,336
Level 3 assets, Total gains (losses) included in net income				4,514	(282)
Level 3 assets, Total gains (losses) included in OCI				(7,472)	30
Level 3 assets, Transfers into Level 3					13,255
Level 3 assets, Transfers out of Level 3				(289,172)	(2,386)
Level 3 assets, Sales				(97,228)
Level 3 assets, Issues				0	0
Level 3 assets, Settlements					(6,433)
Level 3 assets, Balance at end of period		396,694		7,336	11,520
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period				24,095	23,713
Level 3 assets, Total gains (losses) included in net income				29	14
Level 3 assets, Sales				(411)
Level 3 assets, Issues				0	0
Level 3 assets, Settlements					(23,727)
Level 3 assets, Balance at end of period		24,095		23,713
Commercial mortgage-backed securities ("CMBS")
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period				3,397	2,693
Level 3 assets, Total gains (losses) included in net income				2,179	23,506
Level 3 assets, Total gains (losses) included in OCI				(314)	314
Level 3 assets, Sales					(20,192)
Level 3 assets, Issues				0	0
Level 3 assets, Settlements				(2,569)	$ (6,321)
Level 3 assets, Balance at end of period		3,397		2,693
Predecessor
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period						$ 312
Level 3 assets, Issues						0
Level 3 assets, Settlements						(312)
Level 3 liabilities, Balance at beginning of period		(267,859)		(250,486)		(314,926)
Level 3 liabilities, Total gains (losses) included in net income		18,525	[2]			43,244	[3]
Level 3 liabilities, Total gains (losses) included in OCI		0				0
Level 3 liabilities, Transfers into Level 3		0				0
Level 3 liabilities, Transfers out of Level 3		0				0
Level 3 liabilities, Purchases		0				0
Level 3 liabilities, Sales		0				0
Level 3 liabilities, Issues		(3,764)				(6,621)
Level 3 liabilities, Settlements		2,612				10,444
Level 3 liabilities, Balance at end of period		(250,486)				(267,859)
Predecessor | Derivatives embedded in life and annuity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period		(267,859)		$ (250,486)		(314,926)
Level 3 liabilities, Total gains (losses) included in net income		18,525	[2]			43,244	[3]
Level 3 liabilities, Total gains (losses) included in OCI		0				0
Level 3 liabilities, Transfers into Level 3		0				0
Level 3 liabilities, Transfers out of Level 3		0				0
Level 3 liabilities, Purchases		0				0
Level 3 liabilities, Sales		0				0
Level 3 liabilities, Issues		(3,764)				(6,621)
Level 3 liabilities, Settlements		2,612				10,444
Level 3 liabilities, Balance at end of period		$ (250,486)				(267,859)
Predecessor | All other corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 assets, Balance at beginning of period						312
Level 3 assets, Issues						0
Level 3 assets, Settlements						$ (312)
[1]	These amount are 100% ceded in accordance with the Company's reinsurance agreements.
[2]	The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $17.6 million in interest credited to contractholder funds and $946 thousand in contract benefits. These amounts were ceded in accordance with the Company's reinsurance agreements.
[3]	The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $33.0 million in interest credited to contractholder funds and $10.2 million in contract benefits. These amounts were ceded in accordance with the Company's reinsurance agreements.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 2,410,856	$ 1,946,225
Liabilities	6,606,243	7,160,853
Investment Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	5,967,973	6,609,253
Other Long Term Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	638,270	551,600
Commercial Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,536,638	1,150,510
Policy Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	186,827	194,385
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	49,121	49,730
Vehicle Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	638,270	551,600
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	49,121	49,730
Quoted prices in active markets for identical assets (Level 1) | Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	49,121	49,730
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	2,361,735	1,896,495
Liabilities	6,606,243	7,160,853
Significant unobservable inputs (Level 3) | Investment Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	5,967,973	6,609,253
Significant unobservable inputs (Level 3) | Other Long Term Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	638,270	551,600
Significant unobservable inputs (Level 3) | Commercial Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,536,638	1,150,510
Significant unobservable inputs (Level 3) | Policy Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	186,827	194,385
Significant unobservable inputs (Level 3) | Vehicle Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 638,270	$ 551,600

Schedule of Rollforward of Le59

Schedule of Rollforward of Level Three Assets and Liabilities Held at Fair Value on Recurring Basis (Parenthetical) (Detail) - Predecessor - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Effect to net income included in interest credited to contract holder funds	$ 17,600	$ 33,000
Effect to net income included in contract benefits	$ 946	$ 10,200

Schedule of Change in Unrealize

Schedule of Change in Unrealized Gains and Losses Included in Net Income for Level Three Assets and Liabilities Held (Detail) - Predecessor - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014		Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Inputs Gain Loss [Line Items]
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in earnings	$ 18,525	[1]	$ 43,244	[2]
Derivatives embedded in life and annuity contracts
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Inputs Gain Loss [Line Items]
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in earnings	$ 18,525		$ 43,244
[1]	The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $17.6 million in interest credited to contractholder funds and $946 thousand in contract benefits. These amounts were ceded in accordance with the Company's reinsurance agreements.
[2]	The amount attributable to derivatives embedded in life and annuity contracts was reported as follows: $33.0 million in interest credited to contractholder funds and $10.2 million in contract benefits. These amounts were ceded in accordance with the Company's reinsurance agreements.

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Effects of Reinsurance [Line Items]
Deposit receivable	$ 1,250,328	$ 1,383,388
Modified coinsurance payable	$ 1,250,328	$ 1,383,388
Sales Revenue | Credit Concentration Risk | Non-affiliates | Rated A- or better
Effects of Reinsurance [Line Items]
Reinsurance recoverable	99.00%	99.00%
Sales Revenue | Credit Concentration Risk | Non-affiliates | Rated A- or better | Allstate Life Insurance Company
Effects of Reinsurance [Line Items]
Reinsurance recoverable	65.00%	65.00%

Schedule of Effects of Reinsura

Schedule of Effects of Reinsurance on Premiums and Contract Charges (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Effects of Reinsurance [Line Items]
Direct premiums and contract charges		$ 921,444	$ 1,463,472
Assumed premiums and contract charges		5,258	5,939
Ceded premiums and contract charges		(702,833)	(1,106,638)
Net amount		$ 223,869	$ 362,773
Predecessor
Effects of Reinsurance [Line Items]
Direct premiums and contract charges	$ 331,899			$ 1,331,597
Assumed premiums and contract charges	1,581			6,830
Predecessor | Affiliates
Effects of Reinsurance [Line Items]
Ceded premiums and contract charges	(244,797)			(962,576)
Predecessor | Non-affiliates
Effects of Reinsurance [Line Items]
Ceded premiums and contract charges	$ (88,683)			$ (375,851)

Schedule of Effects of Reinsu63

Schedule of Effects of Reinsurance on Interest Credited to contract holder Funds, Contract Benefits and Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Effects of Reinsurance [Line Items]
Direct interest credited to contractholder funds, contract benefits and expenses		$ 1,104,420	$ 1,603,724
Assumed interest credited to contractholder funds, contract benefits and expenses		4,713	6,743
Ceded interest credited to contractholder funds, contract benefits and expenses		(635,887)	(957,643)
Return credited to policyholders' account balances and policyholder benefits, net of reinsurance		$ 473,246	$ 652,824
Predecessor
Effects of Reinsurance [Line Items]
Direct interest credited to contractholder funds, contract benefits and expenses	$ 450,041			$ 1,938,015
Assumed interest credited to contractholder funds, contract benefits and expenses	2,606			8,180
Predecessor | Affiliates
Effects of Reinsurance [Line Items]
Ceded interest credited to contractholder funds, contract benefits and expenses	(336,122)			(1,505,010)
Predecessor | Non-affiliates
Effects of Reinsurance [Line Items]
Ceded interest credited to contractholder funds, contract benefits and expenses	$ (116,525)			$ (441,185)

Components of Deferred Income T

Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets
Policyholder reserves	$ 2,058,446	$ 2,057,627
Deferred acquisition costs	41,664	24,850
Deferred financing costs	8,707	10,755
Net operating loss carryforward		7,500
Investments	120,893
Other assets	688	38
Total deferred tax assets	2,230,398	2,100,770
Deferred tax liabilities
Value of business acquired	(86,696)	(81,032)
Amounts recoverable from reinsurers	(2,076,251)	(2,010,157)
Investments		(45,935)
Intangibles	(1,820)	(1,820)
Other liabilities	(591)	(2,558)
Total deferred tax liabilities	(2,165,358)	(2,141,502)
Net deferred tax liability		$ (40,732)
Net deferred tax asset	$ 65,040

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward			$ 0
Capital loss carryforwards			0
Federal statutory tax rate		35.00%
Income taxes paid			$ 24,000,000
Predecessor
Schedule Of Income Taxes [Line Items]
Federal statutory tax rate	35.00%			35.00%
Income taxes paid	$ 0			$ 4,200,000

Reconciliation of Statutory Fed

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Income Tax Rate Reconciliation [Line Items]
Expected federal income tax expense		$ 15,722	$ 45,062
Dividends received deduction		(1,470)	(2,443)
Other		(18)	3,475
Total income tax expense		$ 14,234	$ 46,094
Statutory federal income tax rate		35.00%
Predecessor
Income Tax Rate Reconciliation [Line Items]
Total income tax expense	$ 922			$ 3,825
Statutory federal income tax rate	35.00%			35.00%
Other	0.00%			0.00%
Effective income tax rate	35.00%			35.00%

Components of Income Tax Expens

Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Components Of Income Tax Expense Benefit [Line Items]
Current			$ 22,528
Deferred		$ 14,234	23,566
Total income tax expense		$ 14,234	$ 46,094
Predecessor
Components Of Income Tax Expense Benefit [Line Items]
Current	$ 914			$ 3,902
Deferred	8			(77)
Total income tax expense	$ 922			$ 3,825

Schedule of Future Policy Benef

Schedule of Future Policy Benefits and Other Policyholder Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	$ 4,757,641	$ 4,528,949
Traditional life insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	1,567,388	1,492,438
Immediate fixed annuities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	584,948	635,858
Accident And Health Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	1,580,809	1,462,110
Equity indexed annuity contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	38,739	39,174
Other Life Contingent Products
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	$ 985,757	$ 899,369

Future Policy Benefits and Ot69

Future Policy Benefits and Other Policyholder Liabilities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Minimum
Interest rate determination of present values, percentage	2.50%
Maximum
Interest rate determination of present values, percentage	6.00%

Policyholder Account Balances (

Policyholder Account Balances (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	$ 11,120,565	$ 11,764,312
Interest-sensitive life insurance
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	5,210,152	5,085,470
Equity indexed annuity contracts
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	5,896,019	6,662,985
Other investment contracts
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	$ 14,394	$ 15,857

Policyholder Account Balances71

Policyholder Account Balances - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Minimum
Interest crediting rates range for sensitive contracts	0.40%
Interest crediting rates for individual annuities	0.00%
Maximum
Interest crediting rates range for sensitive contracts	6.00%
Interest crediting rates for individual annuities	6.00%

Summary of Variable Annuity Con

Summary of Variable Annuity Contracts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Guaranteed accumulation benefits | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 91.6	$ 118.4
Net amount at risk	$ 7.4	$ 6.2
Weighted average waiting period until guarantee date	5 years	6 years
Guaranteed withdrawal benefits | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 12.8	$ 16.6
Net amount at risk	0.1	0.1
GMIB | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	127.4	151.9
Net amount at risk	$ 16.9	$ 15.2
Weighted average waiting period until guarantee date	0 years	0 years
GMDB | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 608.8	$ 742.7
Net amount at risk	$ 66.3	$ 57.2
Average attained age of contractholders	61 years	60 years
GMDB | Variable Life, Variable Universal Life and Universal Life Contracts
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 307.3	$ 325.1
General account value	3,639.6	3,518.3
Net amount at risk	$ 84,370.9	$ 89,942.8
Average attained age of contractholders	48 years	51 years

Liabilities for Guarantee Benef

Liabilities for Guarantee Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance		$ 575,841	$ 642,791
Less: reinsurance recoverable		90,966	107,064
Net beginning balance		484,875	535,727
Incurred guarantee benefits		159,104	217,626
Paid guarantee benefits		(108,252)	(118,063)
Net change		50,852	99,563
Net ending balance	$ 484,875	535,727	635,290
Plus reinsurance recoverable	90,966	107,064	122,638
Gross ending balance	575,841	642,791	757,928
Predecessor
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	308,402	317,382
Less: reinsurance recoverable	308,402	317,382
Net beginning balance	0	0
Incurred guarantee benefits	0
Paid guarantee benefits	0
Net change	0
Net ending balance	0
Plus reinsurance recoverable	317,382
Gross ending balance	317,382
Variable Annuity | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance		8,057	8,358
Less: reinsurance recoverable		8,057	8,358
Net beginning balance		0	0
Incurred guarantee benefits		0	0
Paid guarantee benefits		0	0
Net change		0	0
Net ending balance	0	0	0
Plus reinsurance recoverable	8,057	8,358	8,844
Gross ending balance	8,057	8,358	8,844
Variable Annuity | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance		7,122	8,240
Less: reinsurance recoverable		7,122	8,240
Net beginning balance		0	0
Incurred guarantee benefits		0	0
Paid guarantee benefits		0	0
Net change		0	0
Net ending balance	0	0	0
Plus reinsurance recoverable	7,122	8,240	5,663
Gross ending balance	7,122	8,240	5,663
Variable Annuity | GMWB/GMAB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance		8,499	6,733
Less: reinsurance recoverable		8,499	6,733
Net beginning balance		0	0
Incurred guarantee benefits		0	0
Paid guarantee benefits		0	0
Net change		0	0
Net ending balance	0	0	0
Plus reinsurance recoverable	8,499	6,733	7,814
Gross ending balance	8,499	6,733	7,814
Variable Annuity | Predecessor | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	8,444	8,057
Less: reinsurance recoverable	8,444	8,057
Net beginning balance	0	0
Incurred guarantee benefits	0
Paid guarantee benefits	0
Net change	0
Net ending balance	0
Plus reinsurance recoverable	8,057
Gross ending balance	8,057
Variable Annuity | Predecessor | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	8,743	7,122
Less: reinsurance recoverable	8,743	7,122
Net beginning balance	0	0
Incurred guarantee benefits	0
Paid guarantee benefits	0
Net change	0
Net ending balance	0
Plus reinsurance recoverable	7,122
Gross ending balance	7,122
Variable Annuity | Predecessor | GMWB/GMAB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	9,444	8,499
Less: reinsurance recoverable	9,444	8,499
Net beginning balance	0	0
Incurred guarantee benefits	0
Paid guarantee benefits	0
Net change	0
Net ending balance	0
Plus reinsurance recoverable	8,499
Gross ending balance	8,499
Secondary Guarantees Interest-Sensitive Life and Fixed Annuities
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance		552,163	619,460
Less: reinsurance recoverable		67,288	83,733
Net beginning balance		484,875	535,727
Incurred guarantee benefits		159,104	217,626
Paid guarantee benefits		(108,252)	(118,063)
Net change		50,852	99,563
Net ending balance	484,875	535,727	635,290
Plus reinsurance recoverable	67,288	83,733	100,317
Gross ending balance	552,163	619,460	$ 735,607
Secondary Guarantees Interest-Sensitive Life and Fixed Annuities | Predecessor
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	281,771	293,704
Less: reinsurance recoverable	281,771	293,704
Net beginning balance	0	$ 0
Incurred guarantee benefits	0
Paid guarantee benefits	0
Net change	0
Net ending balance	0
Plus reinsurance recoverable	293,704
Gross ending balance	$ 293,704

Changes to Value of Business Ac

Changes to Value of Business Acquired (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Dec. 31, 2014	Dec. 31, 2015
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance at beginning of period		$ 290,795	$ 231,521
Business acquired		0	0
Amortized to expense during the year	[1]	(38,987)	(40,880)
Adjustment for unrealized investment losses during the year		(20,287)
Adjustment for unrealized investment gains during the year			57,061
Balance at end of year		$ 231,521	$ 247,702
[1]	Amount is included in Operating and Acquisition Expenses on the Consolidated Statements of Operations and Other Comprehensive Income (Loss)

Estimated Percentage of VOBA Ba

Estimated Percentage of VOBA Balance to be Amortized (Detail)	12 Months Ended
	Dec. 31, 2015
VOBA Amortization
2,016	14.00%
2,017	12.00%
2,018	10.00%
2,019	8.00%
2020 and thereafter	56.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Line Items]
Accrued guaranty fund	$ 6,700,000
Estimated future of premium tax deductions	11,100,000
Amount of deposit with governmental authorities required by law	8,400,000	$ 8,900,000
Derivative cash collateral received	800,000	$ 6,400,000
Mortgage Backed Securities
Commitments and Contingencies Disclosure [Line Items]
Funds pledged on mortgage loans held investment portfolio	$ 18,400,000

Regulatory Capital and Divide77

Regulatory Capital and Dividends - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statutory Accounting Practices [Line Items]
Statutory net income		$ 74,000	$ 226,000
Statutory capital and surplus	$ 719,000	555,000	$ 719,000
Dividends to shareholder	$ 33,200	$ 187,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Property Subject to or Available for Operating Lease [Line Items]
Non-cancellable operating lease agreement, expiration date	Jan. 31, 2026
Lease operating expense		$ 0	$ 100,000

Minimum Aggregate Rental Commit

Minimum Aggregate Rental Commitments (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Property Subject to or Available for Operating Lease [Line Items]
2,015	$ 194
2,016	207
2,017	212
2,018	217
2,019	222
All future years	1,489
Aggregate total	$ 2,541

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Resolution
Related Party Transaction [Line Items]
Related party transactions expense recognized on transaction		$ 21,100	$ 13,900
Lanis
Related Party Transaction [Line Items]
Related party transactions expense recognized on transaction		$ 4,300	$ 6,700
Predecessor | Allstate Life Insurance Company
Related Party Transaction [Line Items]
Allocated operating expenses	$ 50,100			$ 249,700
Predecessor | Allstate Distributors, LLC
Related Party Transaction [Line Items]
Broker-Dealer agreement, Promotion and marketing expense	12			71
Predecessor | Allstate Financial Services, LLC
Related Party Transaction [Line Items]
Broker-Dealer agreement, Commission and other distribution expenses	$ 2,200			$ 7,700

Receivables_ (Payables) to Affi

Receivables/ (Payables) to Affiliates (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Resolution
Related Party Transaction [Line Items]
Receivables/ (Payables) to Affiliates	$ (2,623)	$ (4,509)
Lanis
Related Party Transaction [Line Items]
Receivables/ (Payables) to Affiliates	$ (1,742)	$ (1,564)

Related Parties - Predecessor -

Related Parties - Predecessor - Summary of Ceded Under Reinsurance Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Related Party Transaction [Line Items]
Premiums and contract charges		$ 702,833	$ 1,106,638
Interest credited to contractholder funds, contract benefits and expenses		$ 635,887	$ 957,643
Allstate Life Insurance Company | Predecessor
Related Party Transaction [Line Items]
Premiums and contract charges	$ 244,797			$ 962,576
Interest credited to contractholder funds, contract benefits and expenses	$ 336,122			$ 1,505,010

Schedule I - Consolidated Summa

Schedule I - Consolidated Summary of Investments Other Than Investments in Related Parties (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	$ 10,181,778
Fair value	963,677
Amount at which shown in the Balance Sheet	9,845,133
United States Government, Government Agencies and Authorities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	163,096
Fair value	168,578
Amount at which shown in the Balance Sheet	168,578
States, municipalities and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	712,948
Fair value	720,757
Amount at which shown in the Balance Sheet	720,757
Foreign government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	72,042
Fair value	61,643
Amount at which shown in the Balance Sheet	61,643
All other corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	6,060,561
Fair value	5,738,675
Amount at which shown in the Balance Sheet	5,738,675
Residential mortgage-backed securities ("RMBS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	209,728
Fair value	212,799
Amount at which shown in the Balance Sheet	212,799
Commercial mortgage-backed securities ("CMBS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	513,316
Fair value	506,699
Amount at which shown in the Balance Sheet	506,699
Asset-backed securities ("ABS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	542,503
Fair value	536,791
Amount at which shown in the Balance Sheet	536,791
Fixed income securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	8,274,194
Fair value	7,945,942
Amount at which shown in the Balance Sheet	7,945,942
Mortgage Loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,509,132
Amount at which shown in the Balance Sheet	1,509,132
Policy Loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	186,827
Amount at which shown in the Balance Sheet	186,827
Derivatives
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	26,128
Fair value	17,735
Amount at which shown in the Balance Sheet	17,735
Other long-term assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	677
Amount at which shown in the Balance Sheet	677
Short-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	184,820
Amount at which shown in the Balance Sheet	184,820
Other securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,907,584
Fair value	17,735
Amount at which shown in the Balance Sheet	$ 1,899,191

Schedule IV - Consolidated Rein

Schedule IV - Consolidated Reinsurance (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount		$ 921,444	$ 1,463,472
Ceded to other companies		(702,833)	(1,106,638)
Assumed from other companies		5,258	5,939
Net amount		$ 223,869	$ 362,773
Percentage of amount assumed to net		2.40%	1.60%
Gross amount		$ 395,385,878	$ 390,226,197
Ceded to other companies		388,790,881	384,704,438
Assumed from other companies		5,106,566	4,601,282
Net amount		$ 11,701,563	$ 10,123,041
Percentage of amount assumed to net		43.60%	45.50%
Life and Annuity Insurance Product Line
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount		$ 869,472	$ 1,405,005
Ceded to other companies		(669,382)	(1,056,276)
Assumed from other companies		5,258	5,939
Net amount		$ 205,348	$ 354,668
Percentage of amount assumed to net		2.60%	1.70%
Accident And Health Insurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount		$ 51,972	$ 58,467
Ceded to other companies		(33,451)	(50,362)
Net amount		$ 18,521	$ 8,105
Percentage of amount assumed to net		0.00%	0.00%
Predecessor
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 331,899			$ 1,331,597
Ceded to other companies	(333,480)			(1,338,427)
Assumed from other companies	$ 1,581			$ 6,830
Percentage of amount assumed to net	0.00%			0.00%
Gross amount				$ 389,941,404
Ceded to other companies				395,421,202
Assumed from other companies				$ 5,479,798
Percentage of amount assumed to net				0.00%
Predecessor | Life and Annuity Insurance Product Line
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 313,410			$ 1,250,623
Ceded to other companies	(314,991)			(1,257,453)
Assumed from other companies	$ 1,581			$ 6,830
Percentage of amount assumed to net	0.00%			0.00%
Predecessor | Accident And Health Insurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 18,489			$ 80,974
Ceded to other companies	$ (18,489)			$ (80,974)
Percentage of amount assumed to net	0.00%			0.00%