Lincoln Benefit Life S-1 2 Apr 18 IPO registration Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017
Document Information [Line Items]
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Entity Registrant Name	LINCOLN BENEFIT LIFE CO
Entity Central Index Key	910,739
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Fixed maturities, available-for-sale, at estimated fair value (amortized cost $8,161,592 and $8,284,148)	$ 8,414,961	$ 8,198,125
Fair value option and trading securities, at estimated fair value	109,914	14,615
Common stocks, at estimated fair value	8,152	5,100
Commercial mortgage loans	1,043,187	1,455,156
Policy loans	178,437	178,890
Short-term investments	190,376	129,660
Other invested assets	21,183	19,406
Total Investments	9,966,210	10,000,952
Cash and cash equivalents	78,801	3,388
Accrued investment income	96,354	92,997
Reinsurance recoverables	6,501,700	6,280,337
Valuation of business acquired	135,031	186,701
Deposit receivable	1,111,571	1,199,537
Other assets	714,007	682,654
Current income tax	197	2,051
Deferred tax asset, net		3,686
Separate account assets	1,460,380	1,342,220
Total Assets	20,064,251	19,794,523
LIABILITIES
Future policy benefits and other policyholder liabilities	5,510,050	5,111,791
Policyholders' account balances	10,676,911	10,935,372
Accrued expenses and other liabilities	94,543	104,120
Modified coinsurance payable	1,111,571	1,199,537
Other long-term debt - affiliate	695,000	659,000
Deferred tax liability, net	24,585
Separate account liabilities	1,460,380	1,342,220
Total Liabilities	19,573,040	19,352,040
COMMITMENTS & CONTINGENCIES (NOTE 12)
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 (loss)	72,816	(36,168)
Retained earnings (deficit)	(177,663)	(117,407)
Total Shareholder's Equity	491,211	442,483
Total Liabilities and Shareholder's Equity	$ 20,064,251	$ 19,794,523

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fixed maturities, available-for-sale, amortized cost	$ 8,161,592	$ 8,284,148
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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues
Premiums earned	$ 3,156	$ 16,592	$ 8,841
Fee income from policyholders	346,180	346,027	353,932
Net investment income	401,113	397,083	398,931
Realized investment gains, net	38,123	73,720	113,538
Total revenues	788,572	833,422	875,242
Expenses
Policyholders' benefits	439,910	449,118	351,744
Return credited to policyholders' account balances	277,077	269,488	301,079
Operating and acquisition expenses	77,654	68,716	93,671
Total expenses	794,641	787,322	746,494
Income (loss) before federal income tax	(6,069)	46,100	128,748
Federal income tax expense (benefit)
Current	6,853	17,121	22,528
Deferred	(22,666)	(2,474)	23,566
Total income tax expense (benefit)	(15,813)	14,647	46,094
NET INCOME (LOSS)	9,744	31,453	82,654
Net unrealized investment gains (losses):
Unrealized investment gains (losses) for the period	153,920	100,439	(290,511)
Reclassification adjustment for (gains) losses included in net income	(6,001)	(81,920)	79,023
Net unrealized investment gains (losses)	159,921	182,359	(369,534)
Less: Income tax (benefit) related to:
Unrealized investment gains (losses) for the period	48,837	35,156	(101,679)
Reclassification adjustment for (gains) losses included in net income	2,100	28,672	(27,658)
Net unrealized investment gains (losses)	50,937	63,828	(129,337)
Other comprehensive (loss) income	108,984	118,531	(240,197)
Comprehensive income (loss)	$ 118,728	$ 149,984	$ (157,543)

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2014	$ 679,042	$ 2,500	$ 593,558	$ (2,514)	$ 85,498
Balance, shares at Dec. 31, 2014		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)
Comprehensive income (loss)	(157,543)			82,654	(240,197)
Balance at Dec. 31, 2015	334,499	$ 2,500	593,558	(106,860)	(154,699)
Balance, shares at Dec. 31, 2015		25,000
Dividends to shareholder	(42,000)			(42,000)
Comprehensive income (loss)
Net income (loss)	31,453			31,453
Other comprehensive income (loss), net of tax	118,531				118,531
Comprehensive income (loss)	149,984			31,453	118,531
Balance at Dec. 31, 2016	$ 442,483	$ 2,500	593,558	(117,407)	(36,168)
Balance, shares at Dec. 31, 2016	25,000	25,000
Dividends to shareholder	$ (70,000)			(70,000)
Comprehensive income (loss)
Net income (loss)	9,744			9,744
Other comprehensive income (loss), net of tax	108,984				108,984
Comprehensive income (loss)	118,728			9,744	108,984
Balance at Dec. 31, 2017	$ 491,211	$ 2,500	$ 593,558	$ (177,663)	$ 72,816
Balance, shares at Dec. 31, 2017	25,000	25,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ 9,744	$ 31,453	$ 82,654
Adjustments to reconcile net income (loss) to net cash:
Policy charges and fee income	(346,180)	(346,027)	(353,932)
Interest credited	277,077	269,488	301,079
Investment gains, net	(38,123)	(73,720)	(125,986)
Amortization/Accretion of bond premium, net	69,632	59,337	44,701
Amortization of VOBA	29,827	30,054	40,880
Changes in assets and liabilities:
Change in insurance related liabilities and policy-related balances	29,190	52,316	(24,884)
Change in fair value option and trading securitieses	(100,101)	(15,937)
Deferred income tax expense (benefit)	(22,666)	(2,474)	23,566
Decrease (increase) in accrued investment income	(3,357)	(1,783)	5,194
Decrease (increase) in other assets and liabilities	7,899	(3,961)	(27,417)
Net cash provided by (used in) operating activities	(87,058)	(1,254)	(34,145)
Cash flows from investing activities:
Fixed maturities, available for sale Proceeds from sales and maturities	2,023,946	3,806,768	4,739,792
Fixed maturities, available for sale, Purchases	(1,952,554)	(3,823,450)	(3,703,237)
Commercial mortgage loans, proceeds from sales and paydowns	422,241	265,414	164,658
Commercial mortgage loans, originations and purchases	(5,325)	(208,580)	(559,110)
Purchase of common stocks	(3,052)	(5,100)
Net purchases, sales, maturities of derivatives	17,265	2,642	(1,379)
Net purchases, sales, maturities of other investments	(60,263)	63,097	184,107
Net cash provided by (used in) investing activities	442,258	116,728	824,831
Cash flows from financing activities:
Policyholders' account deposits	790,230	763,748	356,916
Policyholders' account withdrawals	(979,586)	(905,014)	(922,215)
Dividends paid to shareholder	(70,000)	(42,000)	(187,000)
Change in overdrafts	(20,431)	22,059	(38,996)
Net cash provided by (used in) financing activities	(279,787)	(161,207)	(791,295)
Net increase (decrease) in cash and cash equivalents	75,413	(45,733)	(609)
Cash and cash equivalents, beginning of period	3,388	49,121	49,730
Cash and cash equivalents, end of period	78,801	3,388	49,121
Supplemental schedule of cash flow information:
Income taxes paid	5,000	17,700	24,000
Interest paid	7,835	7,328	6,671
Noncash activities
Interest income on vehicle note	26,875	25,069	22,880
Interest expense on other long-term debt	26,875	25,069	22,880
Increase in vehicle note and other long-term debt	36,000	50,300	57,100
Change in modified coinsurance payable and deposit receivable	87,966	50,791	$ 133,060
Bond exchanges	10,959	$ 11,199
Mortgage loan refinance	$ 11,368

General

General	12 Months Ended
	Dec. 31, 2017
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 LBL HoldCo II, Inc. (formerly Resolution Life, Inc.) (“HoldCo”), which in turn is a wholly owned subsidiary of LBL HoldCo, Inc. (formerly Resolution Life Holdings, Inc.). HoldCo was formed on July 2, 2013 under the General Corporation Law of the State of Delaware. Lancaster Re Captive Insurance Company (“Lancaster Re”), a Nebraska domiciled captive insurance company, is a wholly owned subsidiary of Lincoln Benefit. The Company became a wholly owned subsidiary of LBL HoldCo II, Inc. 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 October 2, 2017, LBL HoldCo, Inc., the indirect parent of the Company, announced that a definitive agreement had been entered into for the acquisition of LBL HoldCo, Inc. and subsidiaries (including Lincoln Benefit) by an affiliate of Global Bankers Insurance Group. The Transaction is expected to close in 2018, subject to receipt of appropriate regulatory approvals and satisfaction of other customary closing conditions 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 and the U.S. Virgin Islands. 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 continued through 2017. The Company operates 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. ALIC reinsures and administers all life insurance business written by Lincoln Benefit through the Allstate Financial Sales channel, all immediate annuities written by Lincoln Benefit prior to April 1, 2014, and certain term life policies written by Lincoln Benefit. Lincoln Benefit’s variable annuity business also remains reinsured by ALIC under an existing reinsurance agreement between Lincoln Benefit and ALIC. The variable annuity business continues to be reinsured and administered by ALIC under an existing reinsurance administrative services agreement between Lincoln Benefit and ALIC. Basis of Presentation The Company’s financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). 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 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, 2017
Significant Accounting Policies	2. Significant Accounting Policies Cash and cash equivalents Cash includes cash on hand, amounts due from banks, certain 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”). Certain fixed maturities, which may be sold prior to their contractual maturity, are designated as available-for-sale pay-downs Fair value option and trading securities are stated at estimated fair value and include investments for which the fair value option has been elected and investments that are actively purchased and sold (“Actively Traded Securities”). Actively traded securities principally include U.S. Treasury securities and U.S. Government authorities’ and agencies’ securities. Changes in estimated fair value of these securities are included in Realized investment gains, net on the Consolidated Statement of Operations and Comprehensive Income (Loss). The Company recognizes other-than-temporary impairments (“OTTI”) for securities classified as AFS in accordance with Accounting Standards Codification (“ASC”), 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. Redeemable preferred stock is stated at fair value. Common stock is Federal Home Loan Bank (“FHLB”) of Chicago activity stock, which is purchased or sold based on the level of funding agreements and is also stated at cost, which approximates fair value. 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, certain money market 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 equity index options and futures and interest rate swaps to economically hedge its obligation under certain fixed indexed annuity and universal life 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. Equity index 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. Premiums paid are reported as a derivative asset and premiums received are reported as a derivative liability. 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. Index option contracts are cash settled upon exercise and the gain or loss on the settlement is reported in Realized investment gains, net. If the option contract expires without being exercised, the premiums paid or received are reported as Realized investment gains, net and the corresponding asset or liability previously recorded is reversed. The change in the fair value of options contracts are reported in Realized investment gains, net, with an adjustment to a corresponding asset or liability. The Company employs interest rate swaps to reduce interest rate risk associated with specific investments supporting certain annuity contracts. An interest rate swap is an agreement between two counterparties in which one stream of future interest payments is exchanged for another. Interest rate swaps usually involve the exchange of a fixed interest rate for a floating rate, or vice versa, to reduce or increase exposure to fluctuations in interest rates, or to obtain a marginally lower interest rate. Swaps provide returns at the reset dates based on respective interest rates applied to the notional amount with the net difference in resulting interest payments settled between the counterparties. The change in the fair value of the swap is reported in Realized investment gains, net, with an adjustment to the corresponding asset or liability. Cash flows received/paid at the reset dates are reported in net investment income and consist of any differences in the amounts of contractual interest calculated due to the respective counterparties based on changes in interest rates. Swaps usually terminate upon expiration and the remaining book value is offset to Realized investment gains, net. If terminated through sale, the difference between consideration received or paid and the remaining book value is recorded to Realized investment gains, net. The Company has derivatives embedded in non-derivative 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, non-accrual 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 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. Surrenders 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. 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. Returns 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 years ended December 31, 2017, 2016 and 2015. 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. 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. Value of Business Acquired (“VOBA”) For interest-sensitive life and annuity products, VOBA is amortized over the life of the policies in relation to the emergence of estimated gross profits (“EGPs”) 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 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 (Loss). 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. For ASC 944-20 Financial Services — Insurance Activities 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 life and 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 derivatives 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 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. Policyholders’ Account Balances Policyholders’ account balances represent interest-bearing liabilities arising from the sale of products such as interest-sensitive life insurance and fixed annuities. Policyholders’ account balances 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. 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. Income Taxes 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 realization of such assets is not likely (less than 50% likelihood). Tax positions are assessed under a two-step 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 $513.0 million and acquired from Lanis a Vehicle Note (the “Vehicle Note”) for $513.0 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) pre-approval, pre-approval, 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 The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”). ASU listed below represent those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of the date of this filing. ASU not listed below were assessed and determined to be either not applicable or not material. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance on reporting comprehensive income ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI. In March 2017, the FASB issued new guidance on premium amortization on purchased callable debt securities (ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) In August 2016, the FASB issued new guidance on classification of certain cash receipts and cash payments (ASU 2016-15, Statement of Cash Flows (Topic 230). In June 2016, the FASB issued new guidance for recording credit losses (ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments available-for-sale In February 2016, the FASB issued a new leasing standard (ASU 2016-02, Leases (Topic 842) year-end In January 2016, the FASB issued new guidance on the recognition and measurement of financial instruments (ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10); In May 2014, the FASB issued a comprehensive new revenue recognition standard (ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2015-14)

Investments

Investments	12 Months Ended
	Dec. 31, 2017
Investments	3. Investments The amortized cost, gross unrealized gains and losses and fair value for fixed maturities and equity securities as of December 31, 2017 and 2016 were as follows: December 31, 2017 Gross Gross ($ in thousands) Amortized Unrealized Unrealized Fair Value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 416,639 $ 5,322 $ (12,366 ) $ 409,595 Obligations of U.S. States and Political Subdivisions 741,343 37,908 (2,720 ) 776,531 Foreign government 24,242 234 (1,685 ) 22,791 All other corporate securities 6,169,204 258,440 (37,898 ) 6,389,746 ABS 478,329 5,289 (3,395 ) 480,223 CMBS 189,596 1,377 (3,148 ) 187,825 RMBS 127,439 6,520 (509 ) 133,450 Redeemable preferred stock 14,800 — — 14,800 Total fixed maturities, available for sale $ 8,161,592 $ 315,090 $ (61,721 ) $ 8,414,961 Common stock 8,152 — — 8,152 Total fixed maturities and equity securities $ 8,169,744 $ 315,090 $ (61,721 ) $ 8,423,113 December 31, 2016 Gross Gross ($ in thousands) Amortized Unrealized Unrealized Fair Value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 508,635 $ 7,681 $ (14,979 ) $ 501,337 Obligations of U.S. States and Political Subdivisions 702,415 15,936 (8,614 ) 709,737 Foreign government 31,009 303 (3,257 ) 28,055 All other corporate securities 5,963,354 74,854 (151,382 ) 5,886,826 ABS 512,486 5,370 (10,093 ) 507,763 CMBS 385,757 1,283 (5,778 ) 381,262 RMBS 180,492 5,556 (2,903 ) 183,145 Total fixed maturities, available for sale $ 8,284,148 $ 110,983 $ (197,006 ) $ 8,198,125 Common stock 5,100 — — 5,100 Total fixed maturities and equity securities $ 8,289,248 $ 110,983 $ (197,006 ) $ 8,203,225 Scheduled Maturities The scheduled maturities for fixed maturities, available for sale, were as follows as of December 31, 2017: ($ in thousands) Amortized Fair Value Due in one year or less $ 248,382 $ 249,454 Due after one year through five years 887,745 901,528 Due after five years through ten years 1,130,051 1,166,334 Due after ten years 4,843,874 5,042,200 Total before asset and mortgage-backed securities $ 7,110,052 $ 7,359,516 Asset and mortgage-backed securities 1,051,540 1,055,445 Total fixed maturities $ 8,161,592 $ 8,414,961 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 The Company diversifies its commercial mortgage loan portfolio by geographical region to reduce concentration risk. The Company’s commercial mortgage loan portfolio by geographical region was as follows as of December 31, 2017 and 2016: ($ in thousands) December 31, 2017 December 31, 2016 Alabama $ 1,056 $ 1,287 Arizona 20,009 20,389 California 173,101 255,023 Colorado 57,293 57,269 Connecticut — 25,317 Florida 103,869 123,194 Georgia 63,526 65,414 Hawaii 5,020 6,099 Illinois 87,957 114,549 Iowa 791 1,033 Kansas 9,200 9,200 Kentucky 6,538 7,154 Maine — 3,686 Maryland 19,851 20,975 Massachusetts 53,605 77,772 Minnesota 116,923 132,395 Nevada 80,768 84,721 New Jersey 34,101 65,908 New York 50,691 66,502 North Carolina 34,022 55,851 Ohio 12,526 38,611 Pennsylvania 1,007 31,929 South Carolina 1,310 1,948 Tennessee — 3,238 Texas 100,066 133,020 Utah 7,823 42,641 Virginia 975 1,676 Washington 77 3,681 Wisconsin 1,082 4,674 General allowance for loan loss — — Total commercial mortgage loans $ 1,043,187 $ 1,455,156 Credit Quality of Commercial Mortgage Loans The credit quality of commercial mortgage loans held-for-investment December 31, 2017 Recorded Investment Debt Service Coverage Ratios ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total Loan-to-value Less than 65% $ 731,577 $ 48,895 $ — $ 780,472 74.8 % $ 782,640 74.9 % 65% to 75% 222,771 39,944 — 262,715 25.2 % 261,891 25.1 % 76% to 80% — — — — 0.0 % — 0.0 % Greater than 80% — — — — 0.0 % — 0.0 % Total $ 954,348 $ 88,839 $ — $ 1,043,187 100.0 % $ 1,044,531 100.0 % December 31, 2016 Recorded Investment Debt Service Coverage Ratios ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total Loan-to-value Less than 65% $ 785,149 $ 36,743 $ 11,354 $ 833,246 57.3 % $ 848,702 57.9 % 65% to 75% 581,188 25,317 — 606,505 41.7 % 601,587 41.1 % 76% to 80% 10,493 — — 10,493 0.7 % 10,494 0.7 % Greater than 80% 4,912 — — 4,912 0.3 % 4,330 0.3 % Total $ 1,381,742 $ 62,060 $ 11,354 $ 1,455,156 100.0 % $ 1,465,113 100.0 % As of December 31, 2017 and 2016, the Company had no allowance for credit losses for commercial mortgage loans. As of December 31, 2017, $1,043.2 million of commercial mortgage and other loans were in current status with no commercial mortgage or other loans classified as past due. As of December 31, 2016, $1,450.3 million of commercial mortgage loans were in current status and one commercial mortgage with book value of $4.9 million was 90-179 Impaired loans include those loans for which it is probable that all amounts due will not be collected according to the contractual terms of the loan agreement. During 2017, the Company did not record any impairments related to commercial mortgage loans. For 2016, the fair value of the collateral less costs to sell the past due loan, described above, exceeded book value. The Company’s commercial mortgages may occasionally be involved in a troubled debt restructuring. As of December 31, 2017 and 2016, the Company had no commitments to fund to borrowers that have been involved in a troubled debt restructuring. As of December 31, 2017 and 2016, the Company had no new troubled debt restructurings related to commercial mortgages and no payment defaults on commercial mortgages other than as described above. Other Invested Assets Other invested assets were as follows as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 ($ in thousands) Low income housing tax credit properties $ 138 $ 457 Derivatives 21,045 18,949 $ 21,183 $ 19,406 Net Investment Income Net investment income for the years ended December 31, 2017, 2016 and 2015 was as follows: 2017 2016 2015 ($ in thousands) Fixed maturities, available for sale $ 345,299 $ 330,253 $ 334,931 Common Stock 224 — — Fair value option and trading securities 3,755 454 — Commercial mortgage loans 56,510 69,360 63,028 Cash, cash equivalents and short-term investments 1,718 1,007 511 Other investments 8,421 8,845 9,543 Gross investment income $ 415,927 $ 409,919 $ 408,013 Investment expenses 14,814 12,836 9,082 Net investment income $ 401,113 $ 397,083 $ 398,931 Realized Investment Gains and Losses Realized investment gains and losses for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Realized investment gains, net Fixed maturities, available for sale $ 11,434 $ 66,560 $ 120,421 Fair value option and trading securities 1,486 (733 ) — Commercial mortgage loans 5,935 4,037 2,325 Derivatives 19,360 3,856 (9,208 ) Other invested assets (92 ) — — Net realized gains $ 38,123 $ 73,720 $ 113,538 There were $4.4 million in other-than-temporary impairment losses recorded in the year ended December 31, 2017. These securities were impaired to fair value as of the impairment date and were considered credit impairments. No other-than-temporary impairment losses were included in accumulated other comprehensive income as of December 31, 2017 or 2016. There were no other-than-temporary impairment losses recorded in the years ended December 31, 2016 and 2015. Proceeds from sales of fixed maturities and gross realized investment gains and losses for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Fixed maturities, available-for-sale Proceeds from sales $ 1,496,242 $ 3,027,998 $ 3,864,356 Gross investment gains from sales 29,271 109,282 142,534 Gross investment losses from sales (11,893 ) (35,136 ) (16,348 ) Proceeds from sales excludes non-taxable Unrealized Investment Gains and Losses The gross unrealized losses and fair value of fixed maturities, available for sale, by the length of time that individual securities have been in a continuous unrealized loss position were as follows as of December 31, 2017 and 2016: December 31, 2017 Less than 12 months Greater than 12 months ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 215,767 $ (3,499 ) $ 107,344 $ (8,867 ) $ 323,111 $ (12,366 ) Obligations of U.S. States and Political Subdivisions 38,171 (825 ) 45,877 (1,895 ) 84,048 (2,720 ) Foreign government 296 (4 ) 11,098 (1,681 ) 11,394 (1,685 ) All other corporate securities 740,795 (6,841 ) 489,367 (31,057 ) 1,230,162 (37,898 ) ABS 77,050 (689 ) 99,327 (2,706 ) 176,377 (3,395 ) CMBS 72,725 (593 ) 36,540 (2,555 ) 109,265 (3,148 ) RMBS 6,908 (118 ) 21,835 (391 ) 28,743 (509 ) Total fixed maturities $ 1,151,712 $ (12,569 ) $ 811,388 $ (49,152 ) $ 1,963,100 $ (61,721 ) December 31, 2016 Less than 12 months Greater than 12 months ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 276,025 $ (14,951 ) $ 1,059 $ (28 ) $ 277,084 $ (14,979 ) Obligations of U.S. States and Political Subdivisions 206,090 (8,314 ) 5,274 (300 ) 211,364 (8,614 ) Foreign government 769 (34 ) 14,632 (3,223 ) 15,401 (3,257 ) All other corporate securities 2,385,689 (94,085 ) 512,710 (57,297 ) 2,898,399 (151,382 ) ABS 204,555 (8,456 ) 39,450 (1,637 ) 244,005 (10,093 ) CMBS 228,303 (5,231 ) 43,903 (547 ) 272,206 (5,778 ) RMBS 61,058 (1,659 ) 40,454 (1,244 ) 101,512 (2,903 ) Total fixed maturities $ 3,362,489 $ (132,730 ) $ 657,482 $ (64,276 ) $ 4,019,971 $ (197,006 ) 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 The changes in unrealized gains and losses in accumulated other comprehensive income (loss) (“AOCI”) were as follows for the years ended December 31, 2017, 2016 and 2015: ($ in thousands) Net Unrealized VOBA Future Policy Deferred Accumulated Other 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 ) Net investment gains and losses on investments arising during the period 160,311 — — (56,111 ) 104,200 Reclassification adjustment for gains and losses included in net income (81,920 ) — — 28,672 (53,248 ) Impact of net unrealized investment gains and losses on VOBA — (30,948 ) — 10,832 (20,116 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (28,924 ) 10,123 (18,801 ) Balance, December 31, 2016 $ (85,550 ) $ 5,826 $ 23,982 $ 19,574 $ (36,168 ) Net investment gains and losses on investments arising during the period 332,918 — — (111,486 ) 221,432 Reclassification adjustment for gains and losses included in net income (6,001 ) — — 2,100 (3,901 ) Impact of net unrealized investment gains and losses on VOBA — (21,843 ) — 7,645 (14,198 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (157,156 ) 55,005 (102,151 ) Balance, December 31, 2017 $ 253,369 $ (16,017 ) $ (133,174 ) $ (31,362 ) $ 72,816

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2017
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 notional and fair value positions of derivative financial instruments as of December 31, 2017 and 2016 were as follows: December 31, 2017 December 31, 2016 Notional Gross Fair Value Notional Gross Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities ($ in thousands) Assets Equity Options $ 237,250 $ 234,375 $ 39,397 $ (18,352 ) $ 410,500 $ 419,225 $ 34,248 $ (15,158 ) Futures — — — — 16,913 — — (141 ) Liabilities Policyholders account balances Derivatives embedded in life and annuity contracts Equity-indexed annuity contracts (2) $ — $ 1,095,253 $ — $ (57,531 ) $ — $ 1,281,993 $ — $ (55,871 ) Equity-indexed life contracts — 531,800 — (29,911 ) — 460,261 — (23,803 ) Guaranteed accumulation benefits (1) — 53,517 — (4,557 ) — 77,212 — (6,724 ) Guaranteed withdrawal benefits (1) — 9,939 — (113 ) — 11,064 — (111 ) (1) These amounts are fully ceded in accordance with the Company’s reinsurance agreements. The corresponding receivables have been excluded from the table above. (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 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 years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 Realized Policyholder Realized Policyholder Realized Policyholder ($ in thousands) Assets Equity options $ 17,969 $ — $ 2,472 $ — $ (7,557 ) $ — Futures 1,391 — 884 — (1,651 ) — Interest rate swaps — — 500 — — — Liabilities Policyholders’ account balances Equity-indexed annuity contracts $ — $ (1,660 ) $ — $ 8,267 $ — $ (478 ) Equity-indexed life contracts — (168 ) — (121 ) — 956

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2017
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 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. There are no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2017 or 2016. The Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 and 2016 were as follows: December 31, 2017 Description for Each Class of Asset or Liability Level 1 Level 2 Level 3 Total ($ in thousands) Assets at fair value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 156,959 $ 247,739 $ 4,897 $ 409,595 Obligations of U.S. States and Political Subdivisions — 776,531 — 776,531 Foreign government — 22,791 — 22,791 All other corporate securities — 6,371,395 18,351 6,389,746 ABS — 462,290 17,933 480,223 CMBS — 187,825 — 187,825 RMBS — 133,450 — 133,450 Redeemable preferred stock — 14,800 — 14,800 Fair value option and trading securities — 109,914 — 109,914 Common stock — — 8,152 8,152 Short-term investments 190,376 — — 190,376 Other invested assets Equity options 21,045 — — 21,045 Separate accounts assets 1,460,380 — — 1,460,380 Total assets at fair value $ 1,828,760 $ 8,326,735 $ 49,333 $ 10,204,828 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (57,531 ) $ (57,531 ) Equity indexed life contracts — (29,911 ) — (29,911 ) Guaranteed minimum accumulation benefits — — (4,557 ) (4,557 ) Guaranteed minimum withdrawal benefits — — (113 ) (113 ) Separate accounts liabilities (1,460,380 ) — — (1,460,380 ) Total liabilities at fair value $ (1,460,380 ) $ (29,911 ) $ (62,201 ) $ (1,552,492 ) December 31, 2016 Description for Each Class of Asset or Liability Level 1 Level 2 Level 3 Total ($ in thousands) Assets at fair value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 97,836 $ 396,928 $ 6,573 $ 501,337 Obligations of U.S. States and Political Subdivisions — 709,737 — 709,737 Foreign government — 28,055 — 28,055 All other corporate securities — 5,867,475 19,351 5,886,826 ABS — 481,628 26,135 507,763 CMBS — 381,262 — 381,262 RMBS — 183,145 — 183,145 Fair value option and trading securities — 14,615 — 14,615 Common stock — — 5,100 5,100 Short-term investments 129,660 — — 129,660 Other invested assets Equity options 19,090 — — 19,090 Futures (141 ) — — (141 ) Separate accounts assets 1,342,220 — — 1,342,220 Total assets at fair value $ 1,588,665 $ 8,062,845 $ 57,159 $ 9,708,669 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (55,871 ) $ (55,871 ) Equity indexed life contracts — (23,803 ) — (23,803 ) Guaranteed minimum accumulation benefits — — (6,724 ) (6,724 ) Guaranteed minimum withdrawal benefits — — (111 ) (111 ) Separate accounts liabilities (1,342,220 ) — — (1,342,220 ) Total liabilities at fair value $ (1,342,220 ) $ (23,803 ) $ (62,706 ) $ (1,428,729 ) There were no transfers between Level 1 and Level 2 during 2017 or 2016. Summary of significant valuation techniques for assets and liabilities measured at fair value on a recurring basis Fixed Maturities, Fair Value Option and Trading Securities The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. The pricing hierarchy is updated for new financial products and recent pricing experience with various vendors. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. 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 and redeemable preferred stock, 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, 2017 or 2016. Common Stock The Company’s investment in common stock is not practicable to measure at fair value due to the redemption provisions. Therefore, carrying value approximates fair value. Short-term Investments Short-term investments are primarily money market securities valued using unadjusted quoted prices in active markets that are accessible for identical assets and classified as Level 1. 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. The liabilities for guarantees primarily associated with the optional living benefit features of certain equity indexed life contracts are calculated based on the fair value of the underlying hedging instrument for these contracts. Level 3 Fair Value Measurements Quantitative information about the significant unobservable inputs used in Level 3 fair value measurements was as follows as of December 31, 2017 and 2016: December 31, 2017 ($ in thousands) Fair Value Valuation Technique Unobservable Range Weighted Equity indexed annuity contracts $(57,531) Option Pricing Projected Option 1.40% - 1.64% 1.42 % December 31, 2016 ($ in thousands) Fair Value Valuation Technique Unobservable Range Weighted Equity indexed annuity contracts $ (55,871 ) Option Pricing Projected Option 1.40% - 1.84% 1.45 % Excluded from the table above at December 31, 2017 and 2016 are approximately $49.3 million and $52.1 million, respectively, Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not reasonably available. These investments primarily consist of certain public debt securities with limited trading activity, including asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding The table above also excludes underlying quantitative inputs related to liabilities held for the Company’s guaranteed minimum accumulation benefits and guaranteed withdrawal benefits. These liabilities are not developed by the Company as they are 100% ceded to external reinsurers. The development of these liabilities generally involve actuarially determined models and could result in the Company reporting significantly higher or lower fair value measurements for these Level 3 investments. The rollforward of Level 3 assets and liabilities held at fair value on a recurring basis for the years ended December 31, 2017, 2016 and 2015 was as follows: ($ in thousands) Balance, 2017 Net income OCI Transfers Level 3 Transfers Purchases Sales Issues Settlements Balance, 2017 Assets Fixed income maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies, available for sale $ 6,573 $ (1,308 ) $ (368 ) $ — $ — $ — $ — $ — $ — $ 4,897 All other corporate securities 19,351 (8 ) 121 — — — — — (1,113 ) 18,351 ABS 26,135 1,509 873 — (8,828 ) 16,817 — — (18,573 ) 17,933 Common stock 5,100 — — — — 3,052 — — — 8,152 Liabilities Equity indexed annuity contracts (55,871 ) (1,660 ) — — — — — — — (57,531 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (6,835 ) 2,165 — — — — — — — (4,670 ) ($ in thousands) Balance, Net OCI Transfers to Level 3 Transfers out of Purchases Sales Issues Settlements Balance, Assets Fixed income maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies, available for sale $ — $ (491 ) $ 187 $ — $ — $ 6,877 $ — $ — $ — $ 6,573 All other corporate securities 11,520 (123 ) (246 ) 15,370 (4,483 ) — (955 ) — (1,732 ) 19,351 ABS 14,260 (53 ) 347 3,093 — 11,165 — — (2,677 ) 26,135 Common stock — — — — — 5,100 — — — 5,100 Liabilities Equity indexed annuity contracts (64,138 ) 8,267 — — — — — — — (55,871 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (7,814 ) 979 — — — — — — — (6,835 ) ($ in thousands) Balance, Net OCI Transfers Transfers Purchases Sales Issues Settlements Balance, Assets Fixed income maturities 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 ) (1) These amounts 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. Fair Values of Certain Other Investments The financial instruments presented below are reported at carrying value on the Company’s Consolidated Balance Sheet. However, in some cases, the carrying amount equals or approximates fair value. The carrying amount and fair value by fair value hierarchy level of certain financial instruments not reported at fair value as of December 31, 2017 and 2016 were as follows: December 31, 2017 Level 1 Level 2 Level 3 Total ($ in thousands) Assets Commercial mortgage loans $ — $ — $ 1,044,531 $ 1,044,531 Policy loans — — 178,437 178,437 Cash and cash equivalents 78,801 — — 78,801 Vehicle note — — 736,925 736,925 Total assets at fair value $ 78,801 $ — $ 1,959,893 $ 2,038,694 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,439,621 $ 5,439,621 Other long-term debt — — 736,925 736,925 $ — $ — $ 6,176,546 $ 6,176,546 December 31, 2016 Level 1 Level 2 Level 3 Total ($ in thousands) Assets Commercial mortgage loans $ — $ — $ 1,465,113 $ 1,465,113 Policy loans — — 178,890 178,890 Cash and cash equivalents 3,388 — — 3,388 Vehicle note — — 684,855 684,855 Total assets at fair value $ 3,388 $ — $ 2,328,858 $ 2,332,246 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,418,188 $ 5,418,188 Other long-term debt — — 684,855 684,855 $ — $ — $ 6,103,043 $ 6,103,043 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 and Cash Equivalents The Company believes that due to the short-term nature of certain assets, including sweep account balances, 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.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2017
Reinsurance	6. Reinsurance 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 and yearly renewable term agreements. As of December 31, 2017 and December 31, 2016, approximately 99.8% of the Company’s reinsurance recoverables are due from companies rated A- The Company is party to 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, 2017 and 2016, the Company had a deposit receivable and a modified coinsurance payable of $1.1 billion and $1.2 billion, respectively, related to this agreement. The effects of reinsurance on premiums earned and fee income from policyholders for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Direct $ 1,294,462 $ 1,328,917 $ 1,463,472 Assumed 4,768 4,749 5,939 Ceded (949,894 ) (971,047 ) (1,106,638 ) Premiums and fee income, net of reinsurance $ 349,336 $ 362,619 $ 362,773 The effects of reinsurance on return credited to policyholders’ account balances and policyholder benefits for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Direct $ 1,668,358 $ 1,643,710 $ 1,603,724 Assumed 6,003 6,453 6,743 Ceded (957,374 ) (931,557 ) (957,643 ) Return credited to policyholders’ account balances and policyholders’ benefits, net of reinsurance $ 716,987 $ 718,606 $ 652,824

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Taxes	7. Income Taxes The Company is party to a federal income tax allocation agreement (the “Tax Allocation Agreement”) with Lancaster Re. The Company and Lancaster Re file a separate life consolidated federal income tax return under Internal Revenue Code Section 1504 (c)(1). 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, 2017 and 2016. As of December 31, 2017, 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, 2017 and 2016 were as follows: December 31, 2017 December 31, 2016 ($ in thousands) Deferred tax assets Policyholder reserves $ 1,351,638 $ 2,139,431 Deferred acquisition costs 50,739 65,002 Deferred financing costs 2,154 6,311 Investments — 29,721 Other assets 3,800 5,137 Total deferred tax assets $ 1,408,331 $ 2,245,602 Deferred tax liabilities Value of business acquired $ (28,356 ) $ (65,345 ) Amounts recoverable from reinsurers (1,347,620 ) (2,172,500 ) Intangibles (1,092 ) (1,820 ) Investments (54,605 ) — Other liabilities (1,243 ) (2,251 ) Total deferred tax liabilities $ (1,432,916 ) $ (2,241,916 ) Net deferred tax asset (liability) $ (24,585 ) $ 3,686 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, 2017 or 2016. 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, 2017 and 2016, 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 years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Expected federal income tax expense (benefit) $ (2,124 ) $ 16,135 $ 45,062 Dividends received deduction (1,960 ) (1,960 ) (2,443 ) Tax reform (11,461 ) — — Other (268 ) 472 3,475 Total income tax expense (benefit) $ (15,813 ) $ 14,647 $ 46,094 On December 22, 2017, U.S. Tax Reform was enacted, which made significant changes to federal income tax laws, including, but not limited to: (1) reduction in the overall maximum corporate income tax rate from 35% to 21%; (2) changes to the computations for the dividends received deduction, tax reserves, and deferred acquisition costs; and (3) elimination of the net operating loss (“NOL”) carryback and limiting NOL carryforward deductions to 80% of taxable income for life insurance companies. The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address situations where a company does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting under ASC Topic 740 Income Taxes The discrete tax benefit related to unrealized gains and losses on fixed maturities, VOBA and reserve adjustments will not be amortized out of accumulated other comprehensive income. The Company does not yet know how these federal tax law changes may affect state and local income tax provisioning, but any such impacts are not considered material to the Company’s financial position or operating results. 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 The Company is subject to examination by U.S. federal, state, and local income tax authorities. While the Company is not currently under any examinations, tax years 2014 and forward are generally open and available for examination.

Future Policy Benefits and Othe

Future Policy Benefits and Other Policyholder Liabilities	12 Months Ended
	Dec. 31, 2017
Future Policy Benefits and Other Policyholder Liabilities	8. Future Policy Benefits and Other Policyholder Liabilities Life insurance liabilities include reserves for death benefits and other policy benefits. As of December 31, 2017 and 2016, future policy benefits and other policyholder liabilities consisted of the following: December 31, 2017 December 31, 2016 ($ in thousands) Traditional life insurance $ 1,607,149 $ 1,598,071 Immediate fixed annuities 466,723 520,380 Accident and health insurance 1,809,006 1,693,598 Equity indexed annuities 32,601 40,298 Other 1,594,571 1,259,444 Total $ 5,510,050 $ 5,111,791 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. Accident and health insurance future policy benefit reserves include gross unpaid claim reserves of $256.7 million and $218.0 million as of December 31, 2017 and 2016, respectively. These amounts are fully reinsured as of December 31, 2017 and 2016.

Policyholder Account Balances

Policyholder Account Balances	12 Months Ended
	Dec. 31, 2017
Policyholder Account Balances	9. Policyholder Account Balances As of December 31, 2017 and 2016, policyholders’ account balances consisted of the following: December 31, 2017 December 31, 2016 ($ in thousands) Interest-sensitive life contracts $ 5,499,037 $ 5,370,563 Individual annuities 4,761,155 5,298,452 Funding agreements 408,165 255,200 Other 8,554 11,157 Total policyholders’ account balances $ 10,676,911 $ 10,935,372 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

Certain Nontraditional Long-Dur

Certain Nontraditional Long-Duration Contracts	12 Months Ended
	Dec. 31, 2017
Certain Nontraditional Long-Duration Contracts	10. Certain Nontraditional Long-Duration Contracts 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 issued 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). 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, 2017 and 2016, the Company had the following guarantees associated with these contracts, by product and guarantee type : December 31, 2017 ($ in millions) In the Event of Death At Annuitization/ Accumulation For Cumulative Periodic Withdrawals Accumulation at Specified Dates Variable Annuity Contracts Separate account value $ 543.4 $ 121.8 $ 9.9 $ 52.9 Net amount at risk $ 44.1 $ 10.6 $ 0.1 $ 4.6 Average attained age of contractholders 62 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 $ 396.7 General account value $ 3,687.9 Net amount at risk $ 71,791.0 Average attained age of contractholders 50 years December 31, 2016 ($ in millions) In the Event of Death At Annuitization/ Accumulation For Cumulative Periodic Withdrawals Accumulation at Specified Dates Variable Annuity Contracts Separate account value $ 543.1 $ 116.5 $ 10.9 $ 75.8 Net amount at risk $ 57.5 $ 15.8 $ 0.1 $ 6.2 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 Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 348.0 General account value $ 3,684.1 Net amount at risk $ 77,609.0 Average attained age of contractholders 49 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 and the related changes in the liabilities are included in Policyholder benefits in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2017, 2016 and 2015. 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. The changes in general account liabilities for guarantees on variable contracts were as follows: GMDB GMIB GMWB/GMAB Secondary Guarantees ($ in thousands) Variable Annuity Variable Annuity Variable Annuity Interest- Sensitive Life and Fixed Annuities Total Balance as of December 31, 2014 $ 8,358 $ 8,240 $ 6,733 $ 625,161 $ 648,492 Less: reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Net balance as of December 31, 2014 — — — 541,428 541,428 Incurred guarantee benefits — — — 217,603 217,603 Paid guarantee benefits — — — (118,063 ) (118,063 ) Net change — — — 99,540 99,540 Net balance as of December 31, 2015 — — — 640,968 640,968 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 $ 741,285 $ 763,606 Less: reinsurance recoverable 8,844 5,663 7,814 100,317 122,638 Net balance as of December 31, 2015 — — — 640,968 640,968 Incurred guarantee benefits — — — 316,344 316,344 Paid guarantee benefits — — — (156,067 ) (156,067 ) Net change — — — 160,277 160,277 Net balance as of December 31, 2016 — — — 801,245 801,245 Plus reinsurance recoverable 8,626 3,440 6,835 122,608 141,509 Balance as of December 31, 2016 $ 8,626 $ 3,440 $ 6,835 $ 923,853 $ 942,754 Less: reinsurance recoverable 8,626 3,440 6,835 122,608 141,509 Net balance as of December 31, 2016 — — — 801,245 801,245 Incurred guarantee benefits — — — 309,455 309,455 Paid guarantee benefits — — — (151,946 ) (151,946 ) Net change — — — 157,509 157,509 Net balance as of December 31, 2017 — — — 958,754 958,754 Plus reinsurance recoverable 7,516 2,248 4,670 149,618 164,052 Balance as of December 31, 2017 $ 7,516 $ 2,248 $ 4,670 $ 1,108,372 $ 1,122,806

Value of Business Acquired

Value of Business Acquired	12 Months Ended
	Dec. 31, 2017
Value of Business Acquired	11. Value of Business Acquired The following changes to the VOBA asset occurred for the years ended December 31, 2017, 2016 and 2015: ($ in thousands) 2017 2016 2015 Balance at beginning of period $ 186,701 $ 247,702 $ 231,521 Business acquired — — — Amortized to expense during the year (1) (29,827 ) (30,053 ) (40,880 ) Adjustment for unrealized investment losses during the year (21,843 ) (30,948 ) 57,061 Balance at end of year $ 135,031 $ 186,701 $ 247,702 (1) Amount is included in Operating and acquisition expenses on the Consolidated Statements of Operations and Other Comprehensive Income (Loss) The estimated percentages of the VOBA balance to be amortized for the years indicated were as follows: VOBA Amortization 2018 13 % 2019 11 % 2020 9 % 2021 8 % 2022 and thereafter 59 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
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, premium tax and market conduct compliance. It is possible that these examinations may result in additional payments to states and to changes in the Company’s practices and procedures, which could impact benefit payments, operating and acquisition expenses 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, 2017, the Company accrued $3.3 million for guaranty fund assessments which is expected to be offset by estimated future premium tax deductions of $7.5 million. At December 31, 2016, the Company accrued $3.6 million for guaranty fund assessments. 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 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 $8.6 million and $8.8 million at December 31, 2017 and 2016, respectively. • Derivative cash collateral received was reported as cash equivalents of $0.3 million and $0.9 million at December 31, 2017 and 2016, respectively. • Funds pledged on certain mortgage loans held in the investment portfolio to finance property improvements on underlying real estate totaling $8.5 million and $14.2 million at December 31, 2017 and 2016, respectively. • The Company is a member of the FHLB and is required to pledge collateral to back funding agreements issued to the FHLB. Assets with a market value of approximately $538.7 and $339.9 million were pledged as collateral to the FHLB as of December 31, 2017 and 2016, respectively.

Regulatory Capital and Dividend

Regulatory Capital and Dividends	12 Months Ended
	Dec. 31, 2017
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 $64 million, $52 million, and $74 million for the years ended December 31, 2017, 2016 and 2015, respectively. Statutory capital and surplus was $426 million and $560 million as of December 31, 2017 and December 31, 2016, 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 HoldCo’s acquisition of Lincoln Benefit, prior approval of the Nebraska Director of Insurance is required for the Company for any dividend or distribution for five years subsequent to April 1, 2014. The Company paid dividends of $70.0 million, $42.0 million, and $187.0 million during the years ended December 31, 2017, 2016 and 2015, respectively. Other 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, 2017
Leases	14. Leases The Company has a lease agreement to lease office space under a non-cancellable The minimum aggregate rental commitments as of December 31, 2017 were as follows: ($ in thousands) 2018 $ 208 2019 213 2020 218 2021 224 2022 229 All future years 764 Aggregate total $ 1,856

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2017
Related Parties	15. Related Parties Under the management services agreement with HoldCo, HoldCo 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. HoldCo provided $18.9 million, $14.1 million, and $13.9 million in services to Lincoln Benefit for the years ended December 31, 2017, 2016 and 2015, respectively. The Company has 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 years ended December 31, 2017, 2016 and 2015 was approximately $7.8 million, 7.3 million, and $6.7 million, respectively. The Company reported the following receivables/ (payables) to affiliates as of December 31, 2017 and 2016 ($ in thousands): December 31, 2017 December 31, 2016 HoldCo $ (4,715 ) $ (2,795 ) Lanis $ (2,015 ) $ (1,898 ) 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 HoldCo’s term loan agreement with a syndicate of lenders (“Term Loan”). The maturity date of the Term Loan is June 15, 2018. On April 1, 2014, the Company and HoldCo 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, HoldCo shall reimburse the Company in cash in an amount equal to such payment by the Company.

Schedule I Summary of Investmen

Schedule I Summary of Investments Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2017
Schedule I Summary of Investments Other Than Investments in Related Parties	(A Wholly-Owned Subsidiary of LBL HoldCo II, Inc.) Schedule I Summary of Investments Other Than Investments in Related Parties December 31, 2017 Amortized Cost Fair Value Amount at which shown in the Consolidated Balance Sheet ($ in thousands) Type of Investment Fixed maturities: Available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 416,639 $ 409,595 $ 409,595 Obligations of U.S. States and Political Subdivisions 741,343 776,531 776,531 Foreign government 24,242 22,791 22,791 All other corporate bonds 6,169,204 6,389,746 6,389,746 ABS 478,329 480,223 480,223 CMBS 189,596 187,825 187,825 RMBS 127,439 133,450 133,450 Redeemable preferred stock 14,800 14,800 14,800 Total fixed maturities, available for sale $ 8,161,592 $ 8,414,961 $ 8,414,961 Fair value option and trading securities 110,305 109,914 109,914 Total fixed maturities $ 8,271,897 $ 8,524,875 $ 8,524,875 Other securities: Common stock $ 8,152 $ 8,152 $ 8,152 Commercial mortgage loans 1,043,187 — 1,043,187 Derivatives 19,546 21,045 21,045 Other long-term assets 138 — 138 Policy loans 178,437 — 178,437 Short-term investments 190,376 — 190,376 Total other securities $ 1,439,836 $ 29,197 $ 1,441,335 Total investments $ 9,711,733 $ 8,554,072 $ 9,966,210

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2017
Schedule IV - Reinsurance	(A Wholly-Owned Subsidiary of LBL HoldCo II, Inc.) Schedule IV – Reinsurance ($ in thousands) Gross Amount Ceded to Other Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net Year Ended December 31, 2017 Life insurance in force $ 343,103,636 338,144,016 $ 4,049,125 $ 9,008,745 44.9 % Premiums and contract charges: Life and annuities $ 1,236,410 $ (895,505 ) $ 4,768 $ 345,673 1.4 % Accident and health insurance 58,052 (54,389 ) — 3,663 0.0 % $ 1,294,462 $ (949,894 ) $ 4,768 $ 349,336 1.4 % Year Ended December 31, 2016 Life insurance in force $ 365,008,309 $ 359,316,014 $ 4,180,222 $ 9,872,516 42.3 % Premiums and contract charges: Life and annuities $ 1,270,770 $ (918,414 ) $ 4,749 $ 357,105 1.3 % Accident and health insurance 58,147 (52,633 ) — 5,514 0.0 % $ 1,328,917 $ (971,047 ) $ 4,749 $ 362,619 1.3 % 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 % No reinsurance or coinsurance income was netted against premiums ceded in the years ended December 31, 2017, 2016 and 2015.

General (Policies)

General (Policies)	12 Months Ended
	Dec. 31, 2017
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 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 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 and cash equivalents	Cash and cash equivalents Cash includes cash on hand, amounts due from banks, certain 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”). Certain fixed maturities, which may be sold prior to their contractual maturity, are designated as available-for-sale pay-downs Fair value option and trading securities are stated at estimated fair value and include investments for which the fair value option has been elected and investments that are actively purchased and sold (“Actively Traded Securities”). Actively traded securities principally include U.S. Treasury securities and U.S. Government authorities’ and agencies’ securities. Changes in estimated fair value of these securities are included in Realized investment gains, net on the Consolidated Statement of Operations and Comprehensive Income (Loss). The Company recognizes other-than-temporary impairments (“OTTI”) for securities classified as AFS in accordance with Accounting Standards Codification (“ASC”), 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. Redeemable preferred stock is stated at fair value. Common stock is Federal Home Loan Bank (“FHLB”) of Chicago activity stock, which is purchased or sold based on the level of funding agreements and is also stated at cost, which approximates fair value. 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, certain money market 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 equity index options and futures and interest rate swaps to economically hedge its obligation under certain fixed indexed annuity and universal life 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. Equity index 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. Premiums paid are reported as a derivative asset and premiums received are reported as a derivative liability. 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. Index option contracts are cash settled upon exercise and the gain or loss on the settlement is reported in Realized investment gains, net. If the option contract expires without being exercised, the premiums paid or received are reported as Realized investment gains, net and the corresponding asset or liability previously recorded is reversed. The change in the fair value of options contracts are reported in Realized investment gains, net, with an adjustment to a corresponding asset or liability. The Company employs interest rate swaps to reduce interest rate risk associated with specific investments supporting certain annuity contracts. An interest rate swap is an agreement between two counterparties in which one stream of future interest payments is exchanged for another. Interest rate swaps usually involve the exchange of a fixed interest rate for a floating rate, or vice versa, to reduce or increase exposure to fluctuations in interest rates, or to obtain a marginally lower interest rate. Swaps provide returns at the reset dates based on respective interest rates applied to the notional amount with the net difference in resulting interest payments settled between the counterparties. The change in the fair value of the swap is reported in Realized investment gains, net, with an adjustment to the corresponding asset or liability. Cash flows received/paid at the reset dates are reported in net investment income and consist of any differences in the amounts of contractual interest calculated due to the respective counterparties based on changes in interest rates. Swaps usually terminate upon expiration and the remaining book value is offset to Realized investment gains, net. If terminated through sale, the difference between consideration received or paid and the remaining book value is recorded to Realized investment gains, net. The Company has derivatives embedded in non-derivative
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, non-accrual 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 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. Surrenders 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. 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. Returns 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 years ended December 31, 2017, 2016 and 2015.
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. 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.
Value of Business Acquired ("VOBA")	Value of Business Acquired (“VOBA”) For interest-sensitive life and annuity products, VOBA is amortized over the life of the policies in relation to the emergence of estimated gross profits (“EGPs”) 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
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 (Loss). 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. For ASC 944-20 Financial Services — Insurance Activities 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 life and 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 derivatives 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 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.
Policyholders' Account Balances	Policyholders’ Account Balances Policyholders’ account balances represent interest-bearing liabilities arising from the sale of products such as interest-sensitive life insurance and fixed annuities. Policyholders’ account balances 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. 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.
Income Taxes	Income Taxes 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 realization of such assets is not likely (less than 50% likelihood). Tax positions are assessed under a two-step
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 $513.0 million and acquired from Lanis a Vehicle Note (the “Vehicle Note”) for $513.0 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) pre-approval, pre-approval,
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 The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”). ASU listed below represent those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of the date of this filing. ASU not listed below were assessed and determined to be either not applicable or not material. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance on reporting comprehensive income ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI. In March 2017, the FASB issued new guidance on premium amortization on purchased callable debt securities (ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) In August 2016, the FASB issued new guidance on classification of certain cash receipts and cash payments (ASU 2016-15, Statement of Cash Flows (Topic 230). In June 2016, the FASB issued new guidance for recording credit losses (ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments available-for-sale In February 2016, the FASB issued a new leasing standard (ASU 2016-02, Leases (Topic 842) year-end In January 2016, the FASB issued new guidance on the recognition and measurement of financial instruments (ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10); In May 2014, the FASB issued a comprehensive new revenue recognition standard (ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2015-14)

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2017
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 and equity securities as of December 31, 2017 and 2016 were as follows: December 31, 2017 Gross Gross ($ in thousands) Amortized Unrealized Unrealized Fair Value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 416,639 $ 5,322 $ (12,366 ) $ 409,595 Obligations of U.S. States and Political Subdivisions 741,343 37,908 (2,720 ) 776,531 Foreign government 24,242 234 (1,685 ) 22,791 All other corporate securities 6,169,204 258,440 (37,898 ) 6,389,746 ABS 478,329 5,289 (3,395 ) 480,223 CMBS 189,596 1,377 (3,148 ) 187,825 RMBS 127,439 6,520 (509 ) 133,450 Redeemable preferred stock 14,800 — — 14,800 Total fixed maturities, available for sale $ 8,161,592 $ 315,090 $ (61,721 ) $ 8,414,961 Common stock 8,152 — — 8,152 Total fixed maturities and equity securities $ 8,169,744 $ 315,090 $ (61,721 ) $ 8,423,113 December 31, 2016 Gross Gross ($ in thousands) Amortized Unrealized Unrealized Fair Value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 508,635 $ 7,681 $ (14,979 ) $ 501,337 Obligations of U.S. States and Political Subdivisions 702,415 15,936 (8,614 ) 709,737 Foreign government 31,009 303 (3,257 ) 28,055 All other corporate securities 5,963,354 74,854 (151,382 ) 5,886,826 ABS 512,486 5,370 (10,093 ) 507,763 CMBS 385,757 1,283 (5,778 ) 381,262 RMBS 180,492 5,556 (2,903 ) 183,145 Total fixed maturities, available for sale $ 8,284,148 $ 110,983 $ (197,006 ) $ 8,198,125 Common stock 5,100 — — 5,100 Total fixed maturities and equity securities $ 8,289,248 $ 110,983 $ (197,006 ) $ 8,203,225
Schedule for Fixed Income Securities Based on Contractual Maturities	The scheduled maturities for fixed maturities, available for sale, were as follows as of December 31, 2017: ($ in thousands) Amortized Fair Value Due in one year or less $ 248,382 $ 249,454 Due after one year through five years 887,745 901,528 Due after five years through ten years 1,130,051 1,166,334 Due after ten years 4,843,874 5,042,200 Total before asset and mortgage-backed securities $ 7,110,052 $ 7,359,516 Asset and mortgage-backed securities 1,051,540 1,055,445 Total fixed maturities $ 8,161,592 $ 8,414,961
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 Company’s commercial mortgage loan portfolio by geographical region was as follows as of December 31, 2017 and 2016: ($ in thousands) December 31, 2017 December 31, 2016 Alabama $ 1,056 $ 1,287 Arizona 20,009 20,389 California 173,101 255,023 Colorado 57,293 57,269 Connecticut — 25,317 Florida 103,869 123,194 Georgia 63,526 65,414 Hawaii 5,020 6,099 Illinois 87,957 114,549 Iowa 791 1,033 Kansas 9,200 9,200 Kentucky 6,538 7,154 Maine — 3,686 Maryland 19,851 20,975 Massachusetts 53,605 77,772 Minnesota 116,923 132,395 Nevada 80,768 84,721 New Jersey 34,101 65,908 New York 50,691 66,502 North Carolina 34,022 55,851 Ohio 12,526 38,611 Pennsylvania 1,007 31,929 South Carolina 1,310 1,948 Tennessee — 3,238 Texas 100,066 133,020 Utah 7,823 42,641 Virginia 975 1,676 Washington 77 3,681 Wisconsin 1,082 4,674 General allowance for loan loss — — Total commercial mortgage loans $ 1,043,187 $ 1,455,156
Schedule of Credit Quality of Commercial Mortgage Loans Held-For-Investment	The credit quality of commercial mortgage loans held-for-investment December 31, 2017 Recorded Investment Debt Service Coverage Ratios ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total Loan-to-value Less than 65% $ 731,577 $ 48,895 $ — $ 780,472 74.8 % $ 782,640 74.9 % 65% to 75% 222,771 39,944 — 262,715 25.2 % 261,891 25.1 % 76% to 80% — — — — 0.0 % — 0.0 % Greater than 80% — — — — 0.0 % — 0.0 % Total $ 954,348 $ 88,839 $ — $ 1,043,187 100.0 % $ 1,044,531 100.0 % December 31, 2016 Recorded Investment Debt Service Coverage Ratios ($ in thousands) > 1.20x 1.00x - 1.20x < 1.00x Total % of Total Estimated Fair % of Total Loan-to-value Less than 65% $ 785,149 $ 36,743 $ 11,354 $ 833,246 57.3 % $ 848,702 57.9 % 65% to 75% 581,188 25,317 — 606,505 41.7 % 601,587 41.1 % 76% to 80% 10,493 — — 10,493 0.7 % 10,494 0.7 % Greater than 80% 4,912 — — 4,912 0.3 % 4,330 0.3 % Total $ 1,381,742 $ 62,060 $ 11,354 $ 1,455,156 100.0 % $ 1,465,113 100.0 %
Composition of Other Invested Assets	Other invested assets were as follows as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 ($ in thousands) Low income housing tax credit properties $ 138 $ 457 Derivatives 21,045 18,949 $ 21,183 $ 19,406
Schedule of Net Investment Income	Net investment income for the years ended December 31, 2017, 2016 and 2015 was as follows: 2017 2016 2015 ($ in thousands) Fixed maturities, available for sale $ 345,299 $ 330,253 $ 334,931 Common Stock 224 — — Fair value option and trading securities 3,755 454 — Commercial mortgage loans 56,510 69,360 63,028 Cash, cash equivalents and short-term investments 1,718 1,007 511 Other investments 8,421 8,845 9,543 Gross investment income $ 415,927 $ 409,919 $ 408,013 Investment expenses 14,814 12,836 9,082 Net investment income $ 401,113 $ 397,083 $ 398,931
Schedule of Realized Investment Gains and Losses	Realized investment gains and losses for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Realized investment gains, net Fixed maturities, available for sale $ 11,434 $ 66,560 $ 120,421 Fair value option and trading securities 1,486 (733 ) — Commercial mortgage loans 5,935 4,037 2,325 Derivatives 19,360 3,856 (9,208 ) Other invested assets (92 ) — — Net realized gains $ 38,123 $ 73,720 $ 113,538
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 the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Fixed maturities, available-for-sale Proceeds from sales $ 1,496,242 $ 3,027,998 $ 3,864,356 Gross investment gains from sales 29,271 109,282 142,534 Gross investment losses from sales (11,893 ) (35,136 ) (16,348 )
Summary of Gross Unrealized Losses and Fair Value of Fixed Income by Length of Time	The gross unrealized losses and fair value of fixed maturities, available for sale, by the length of time that individual securities have been in a continuous unrealized loss position were as follows as of December 31, 2017 and 2016: December 31, 2017 Less than 12 months Greater than 12 months ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 215,767 $ (3,499 ) $ 107,344 $ (8,867 ) $ 323,111 $ (12,366 ) Obligations of U.S. States and Political Subdivisions 38,171 (825 ) 45,877 (1,895 ) 84,048 (2,720 ) Foreign government 296 (4 ) 11,098 (1,681 ) 11,394 (1,685 ) All other corporate securities 740,795 (6,841 ) 489,367 (31,057 ) 1,230,162 (37,898 ) ABS 77,050 (689 ) 99,327 (2,706 ) 176,377 (3,395 ) CMBS 72,725 (593 ) 36,540 (2,555 ) 109,265 (3,148 ) RMBS 6,908 (118 ) 21,835 (391 ) 28,743 (509 ) Total fixed maturities $ 1,151,712 $ (12,569 ) $ 811,388 $ (49,152 ) $ 1,963,100 $ (61,721 ) December 31, 2016 Less than 12 months Greater than 12 months ($ in thousands) Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 276,025 $ (14,951 ) $ 1,059 $ (28 ) $ 277,084 $ (14,979 ) Obligations of U.S. States and Political Subdivisions 206,090 (8,314 ) 5,274 (300 ) 211,364 (8,614 ) Foreign government 769 (34 ) 14,632 (3,223 ) 15,401 (3,257 ) All other corporate securities 2,385,689 (94,085 ) 512,710 (57,297 ) 2,898,399 (151,382 ) ABS 204,555 (8,456 ) 39,450 (1,637 ) 244,005 (10,093 ) CMBS 228,303 (5,231 ) 43,903 (547 ) 272,206 (5,778 ) RMBS 61,058 (1,659 ) 40,454 (1,244 ) 101,512 (2,903 ) Total fixed maturities $ 3,362,489 $ (132,730 ) $ 657,482 $ (64,276 ) $ 4,019,971 $ (197,006 )
Net Unrealized Investment Gains and Losses in AOCI	The changes in unrealized gains and losses in accumulated other comprehensive income (loss) (“AOCI”) were as follows for the years ended December 31, 2017, 2016 and 2015: ($ in thousands) Net Unrealized VOBA Future Policy Deferred Accumulated Other 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 ) Net investment gains and losses on investments arising during the period 160,311 — — (56,111 ) 104,200 Reclassification adjustment for gains and losses included in net income (81,920 ) — — 28,672 (53,248 ) Impact of net unrealized investment gains and losses on VOBA — (30,948 ) — 10,832 (20,116 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (28,924 ) 10,123 (18,801 ) Balance, December 31, 2016 $ (85,550 ) $ 5,826 $ 23,982 $ 19,574 $ (36,168 ) Net investment gains and losses on investments arising during the period 332,918 — — (111,486 ) 221,432 Reclassification adjustment for gains and losses included in net income (6,001 ) — — 2,100 (3,901 ) Impact of net unrealized investment gains and losses on VOBA — (21,843 ) — 7,645 (14,198 ) Impact of net unrealized investment gains and losses on future policy benefits and policyholders’ account balances — — (157,156 ) 55,005 (102,151 ) Balance, December 31, 2017 $ 253,369 $ (16,017 ) $ (133,174 ) $ (31,362 ) $ 72,816

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Notional and Fair Value Positions of Derivative Instruments	The notional and fair value positions of derivative financial instruments as of December 31, 2017 and 2016 were as follows: December 31, 2017 December 31, 2016 Notional Gross Fair Value Notional Gross Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities ($ in thousands) Assets Equity Options $ 237,250 $ 234,375 $ 39,397 $ (18,352 ) $ 410,500 $ 419,225 $ 34,248 $ (15,158 ) Futures — — — — 16,913 — — (141 ) Liabilities Policyholders account balances Derivatives embedded in life and annuity contracts Equity-indexed annuity contracts (2) $ — $ 1,095,253 $ — $ (57,531 ) $ — $ 1,281,993 $ — $ (55,871 ) Equity-indexed life contracts — 531,800 — (29,911 ) — 460,261 — (23,803 ) Guaranteed accumulation benefits (1) — 53,517 — (4,557 ) — 77,212 — (6,724 ) Guaranteed withdrawal benefits (1) — 9,939 — (113 ) — 11,064 — (111 ) (1) These amounts are fully ceded in accordance with the Company’s reinsurance agreements. The corresponding receivables have been excluded from the table above. (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 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 years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 Realized Policyholder Realized Policyholder Realized Policyholder ($ in thousands) Assets Equity options $ 17,969 $ — $ 2,472 $ — $ (7,557 ) $ — Futures 1,391 — 884 — (1,651 ) — Interest rate swaps — — 500 — — — Liabilities Policyholders’ account balances Equity-indexed annuity contracts $ — $ (1,660 ) $ — $ 8,267 $ — $ (478 ) Equity-indexed life contracts — (168 ) — (121 ) — 956

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Assets and Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis	There are no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2017 or 2016. The Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 and 2016 were as follows: December 31, 2017 Description for Each Class of Asset or Liability Level 1 Level 2 Level 3 Total ($ in thousands) Assets at fair value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 156,959 $ 247,739 $ 4,897 $ 409,595 Obligations of U.S. States and Political Subdivisions — 776,531 — 776,531 Foreign government — 22,791 — 22,791 All other corporate securities — 6,371,395 18,351 6,389,746 ABS — 462,290 17,933 480,223 CMBS — 187,825 — 187,825 RMBS — 133,450 — 133,450 Redeemable preferred stock — 14,800 — 14,800 Fair value option and trading securities — 109,914 — 109,914 Common stock — — 8,152 8,152 Short-term investments 190,376 — — 190,376 Other invested assets Equity options 21,045 — — 21,045 Separate accounts assets 1,460,380 — — 1,460,380 Total assets at fair value $ 1,828,760 $ 8,326,735 $ 49,333 $ 10,204,828 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (57,531 ) $ (57,531 ) Equity indexed life contracts — (29,911 ) — (29,911 ) Guaranteed minimum accumulation benefits — — (4,557 ) (4,557 ) Guaranteed minimum withdrawal benefits — — (113 ) (113 ) Separate accounts liabilities (1,460,380 ) — — (1,460,380 ) Total liabilities at fair value $ (1,460,380 ) $ (29,911 ) $ (62,201 ) $ (1,552,492 ) December 31, 2016 Description for Each Class of Asset or Liability Level 1 Level 2 Level 3 Total ($ in thousands) Assets at fair value Fixed maturities, available for sale U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies $ 97,836 $ 396,928 $ 6,573 $ 501,337 Obligations of U.S. States and Political Subdivisions — 709,737 — 709,737 Foreign government — 28,055 — 28,055 All other corporate securities — 5,867,475 19,351 5,886,826 ABS — 481,628 26,135 507,763 CMBS — 381,262 — 381,262 RMBS — 183,145 — 183,145 Fair value option and trading securities — 14,615 — 14,615 Common stock — — 5,100 5,100 Short-term investments 129,660 — — 129,660 Other invested assets Equity options 19,090 — — 19,090 Futures (141 ) — — (141 ) Separate accounts assets 1,342,220 — — 1,342,220 Total assets at fair value $ 1,588,665 $ 8,062,845 $ 57,159 $ 9,708,669 Liabilities at fair value Policyholders’ account balances Equity indexed annuity contracts $ — $ — $ (55,871 ) $ (55,871 ) Equity indexed life contracts — (23,803 ) — (23,803 ) Guaranteed minimum accumulation benefits — — (6,724 ) (6,724 ) Guaranteed minimum withdrawal benefits — — (111 ) (111 ) Separate accounts liabilities (1,342,220 ) — — (1,342,220 ) Total liabilities at fair value $ (1,342,220 ) $ (23,803 ) $ (62,706 ) $ (1,428,729 )
Summary of Quantitative Information About the Significant Unobservable Inputs Used in Level 3 Fair Value Measurements	Quantitative information about the significant unobservable inputs used in Level 3 fair value measurements was as follows as of December 31, 2017 and 2016: December 31, 2017 ($ in thousands) Fair Value Valuation Technique Unobservable Range Weighted Equity indexed annuity contracts $(57,531) Option Pricing Projected Option 1.40% - 1.64% 1.42 % December 31, 2016 ($ in thousands) Fair Value Valuation Technique Unobservable Range Weighted Equity indexed annuity contracts $ (55,871 ) Option Pricing Projected Option 1.40% - 1.84% 1.45 %
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value on a Recurring Basis	The rollforward of Level 3 assets and liabilities held at fair value on a recurring basis for the years ended December 31, 2017, 2016 and 2015 was as follows: ($ in thousands) Balance, 2017 Net income OCI Transfers Level 3 Transfers Purchases Sales Issues Settlements Balance, 2017 Assets Fixed income maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies, available for sale $ 6,573 $ (1,308 ) $ (368 ) $ — $ — $ — $ — $ — $ — $ 4,897 All other corporate securities 19,351 (8 ) 121 — — — — — (1,113 ) 18,351 ABS 26,135 1,509 873 — (8,828 ) 16,817 — — (18,573 ) 17,933 Common stock 5,100 — — — — 3,052 — — — 8,152 Liabilities Equity indexed annuity contracts (55,871 ) (1,660 ) — — — — — — — (57,531 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (6,835 ) 2,165 — — — — — — — (4,670 ) ($ in thousands) Balance, Net OCI Transfers to Level 3 Transfers out of Purchases Sales Issues Settlements Balance, Assets Fixed income maturities U.S Treasury Securities and Obligations of U.S. Government Authority and Agencies, available for sale $ — $ (491 ) $ 187 $ — $ — $ 6,877 $ — $ — $ — $ 6,573 All other corporate securities 11,520 (123 ) (246 ) 15,370 (4,483 ) — (955 ) — (1,732 ) 19,351 ABS 14,260 (53 ) 347 3,093 — 11,165 — — (2,677 ) 26,135 Common stock — — — — — 5,100 — — — 5,100 Liabilities Equity indexed annuity contracts (64,138 ) 8,267 — — — — — — — (55,871 ) Guaranteed minimum accumulation benefits and guaranteed minimum withdrawal benefits (1) (7,814 ) 979 — — — — — — — (6,835 ) ($ in thousands) Balance, Net OCI Transfers Transfers Purchases Sales Issues Settlements Balance, Assets Fixed income maturities 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 ) (1) These amounts are 100% ceded in accordance with the Company’s reinsurance agreements.
Schedule of Carrying Value of Financial Instruments Presented in Consolidated Balance Sheet	The carrying amount and fair value by fair value hierarchy level of certain financial instruments not reported at fair value as of December 31, 2017 and 2016 were as follows: December 31, 2017 Level 1 Level 2 Level 3 Total ($ in thousands) Assets Commercial mortgage loans $ — $ — $ 1,044,531 $ 1,044,531 Policy loans — — 178,437 178,437 Cash and cash equivalents 78,801 — — 78,801 Vehicle note — — 736,925 736,925 Total assets at fair value $ 78,801 $ — $ 1,959,893 $ 2,038,694 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,439,621 $ 5,439,621 Other long-term debt — — 736,925 736,925 $ — $ — $ 6,176,546 $ 6,176,546 December 31, 2016 Level 1 Level 2 Level 3 Total ($ in thousands) Assets Commercial mortgage loans $ — $ — $ 1,465,113 $ 1,465,113 Policy loans — — 178,890 178,890 Cash and cash equivalents 3,388 — — 3,388 Vehicle note — — 684,855 684,855 Total assets at fair value $ 3,388 $ — $ 2,328,858 $ 2,332,246 Liabilities at fair value Policyholders’ account balances — investment contracts $ — $ — $ 5,418,188 $ 5,418,188 Other long-term debt — — 684,855 684,855 $ — $ — $ 6,103,043 $ 6,103,043

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2017
Schedule of Effects of Reinsurance on Premiums Earnd and Fee Income	The effects of reinsurance on premiums earned and fee income from policyholders for the years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Direct $ 1,294,462 $ 1,328,917 $ 1,463,472 Assumed 4,768 4,749 5,939 Ceded (949,894 ) (971,047 ) (1,106,638 ) Premiums and fee income, net of reinsurance $ 349,336 $ 362,619 $ 362,773
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 years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Direct $ 1,668,358 $ 1,643,710 $ 1,603,724 Assumed 6,003 6,453 6,743 Ceded (957,374 ) (931,557 ) (957,643 ) Return credited to policyholders’ account balances and policyholders’ benefits, net of reinsurance $ 716,987 $ 718,606 $ 652,824

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Components of Deferred Income Tax Assets and Liabilities	The components of the deferred income tax assets and liabilities as of December 31, 2017 and 2016 were as follows: December 31, 2017 December 31, 2016 ($ in thousands) Deferred tax assets Policyholder reserves $ 1,351,638 $ 2,139,431 Deferred acquisition costs 50,739 65,002 Deferred financing costs 2,154 6,311 Investments — 29,721 Other assets 3,800 5,137 Total deferred tax assets $ 1,408,331 $ 2,245,602 Deferred tax liabilities Value of business acquired $ (28,356 ) $ (65,345 ) Amounts recoverable from reinsurers (1,347,620 ) (2,172,500 ) Intangibles (1,092 ) (1,820 ) Investments (54,605 ) — Other liabilities (1,243 ) (2,251 ) Total deferred tax liabilities $ (1,432,916 ) $ (2,241,916 ) Net deferred tax asset (liability) $ (24,585 ) $ 3,686
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 years ended December 31, 2017, 2016 and 2015 were as follows: 2017 2016 2015 ($ in thousands) Expected federal income tax expense (benefit) $ (2,124 ) $ 16,135 $ 45,062 Dividends received deduction (1,960 ) (1,960 ) (2,443 ) Tax reform (11,461 ) — — Other (268 ) 472 3,475 Total income tax expense (benefit) $ (15,813 ) $ 14,647 $ 46,094

Future Policy Benefits and Ot30

Future Policy Benefits and Other Policyholder Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016, future policy benefits and other policyholder liabilities consisted of the following: December 31, 2017 December 31, 2016 ($ in thousands) Traditional life insurance $ 1,607,149 $ 1,598,071 Immediate fixed annuities 466,723 520,380 Accident and health insurance 1,809,006 1,693,598 Equity indexed annuities 32,601 40,298 Other 1,594,571 1,259,444 Total $ 5,510,050 $ 5,111,791

Policyholder Account Balances (

Policyholder Account Balances (Tables)	12 Months Ended
	Dec. 31, 2017
Policyholder Account Balances	As of December 31, 2017 and 2016, policyholders’ account balances consisted of the following: December 31, 2017 December 31, 2016 ($ in thousands) Interest-sensitive life contracts $ 5,499,037 $ 5,370,563 Individual annuities 4,761,155 5,298,452 Funding agreements 408,165 255,200 Other 8,554 11,157 Total policyholders’ account balances $ 10,676,911 $ 10,935,372

Certain Nontraditional Long-D32

Certain Nontraditional Long-Duration Contracts (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Variable Annuity Contracts	As of December 31, 2017 and 2016, the Company had the following guarantees associated with these contracts, by product and guarantee type : December 31, 2017 ($ in millions) In the Event of Death At Annuitization/ Accumulation For Cumulative Periodic Withdrawals Accumulation at Specified Dates Variable Annuity Contracts Separate account value $ 543.4 $ 121.8 $ 9.9 $ 52.9 Net amount at risk $ 44.1 $ 10.6 $ 0.1 $ 4.6 Average attained age of contractholders 62 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 $ 396.7 General account value $ 3,687.9 Net amount at risk $ 71,791.0 Average attained age of contractholders 50 years December 31, 2016 ($ in millions) In the Event of Death At Annuitization/ Accumulation For Cumulative Periodic Withdrawals Accumulation at Specified Dates Variable Annuity Contracts Separate account value $ 543.1 $ 116.5 $ 10.9 $ 75.8 Net amount at risk $ 57.5 $ 15.8 $ 0.1 $ 6.2 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 Variable Life, Variable Universal Life and Universal Life Contracts No Lapse Guarantees Separate account value $ 348.0 General account value $ 3,684.1 Net amount at risk $ 77,609.0 Average attained age of contractholders 49 years
Liabilities for Guarantee Benefits	The changes in general account liabilities for guarantees on variable contracts were as follows: GMDB GMIB GMWB/GMAB Secondary Guarantees ($ in thousands) Variable Annuity Variable Annuity Variable Annuity Interest- Sensitive Life and Fixed Annuities Total Balance as of December 31, 2014 $ 8,358 $ 8,240 $ 6,733 $ 625,161 $ 648,492 Less: reinsurance recoverable 8,358 8,240 6,733 83,733 107,064 Net balance as of December 31, 2014 — — — 541,428 541,428 Incurred guarantee benefits — — — 217,603 217,603 Paid guarantee benefits — — — (118,063 ) (118,063 ) Net change — — — 99,540 99,540 Net balance as of December 31, 2015 — — — 640,968 640,968 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 $ 741,285 $ 763,606 Less: reinsurance recoverable 8,844 5,663 7,814 100,317 122,638 Net balance as of December 31, 2015 — — — 640,968 640,968 Incurred guarantee benefits — — — 316,344 316,344 Paid guarantee benefits — — — (156,067 ) (156,067 ) Net change — — — 160,277 160,277 Net balance as of December 31, 2016 — — — 801,245 801,245 Plus reinsurance recoverable 8,626 3,440 6,835 122,608 141,509 Balance as of December 31, 2016 $ 8,626 $ 3,440 $ 6,835 $ 923,853 $ 942,754 Less: reinsurance recoverable 8,626 3,440 6,835 122,608 141,509 Net balance as of December 31, 2016 — — — 801,245 801,245 Incurred guarantee benefits — — — 309,455 309,455 Paid guarantee benefits — — — (151,946 ) (151,946 ) Net change — — — 157,509 157,509 Net balance as of December 31, 2017 — — — 958,754 958,754 Plus reinsurance recoverable 7,516 2,248 4,670 149,618 164,052 Balance as of December 31, 2017 $ 7,516 $ 2,248 $ 4,670 $ 1,108,372 $ 1,122,806

Value of Business Acquired (Tab

Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2017
Changes to Value of Business Acquired	The following changes to the VOBA asset occurred for the years ended December 31, 2017, 2016 and 2015: ($ in thousands) 2017 2016 2015 Balance at beginning of period $ 186,701 $ 247,702 $ 231,521 Business acquired — — — Amortized to expense during the year (1) (29,827 ) (30,053 ) (40,880 ) Adjustment for unrealized investment losses during the year (21,843 ) (30,948 ) 57,061 Balance at end of year $ 135,031 $ 186,701 $ 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 Balance to Be Amortized	The estimated percentages of the VOBA balance to be amortized for the years indicated were as follows: VOBA Amortization 2018 13 % 2019 11 % 2020 9 % 2021 8 % 2022 and thereafter 59 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2017
Minimum Aggregate Rental Commitments	The minimum aggregate rental commitments as of December 31, 2017 were as follows: ($ in thousands) 2018 $ 208 2019 213 2020 218 2021 224 2022 229 All future years 764 Aggregate total $ 1,856

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables/ (Payables) to Affiliates	The Company reported the following receivables/ (payables) to affiliates as of December 31, 2017 and 2016 ($ in thousands): December 31, 2017 December 31, 2016 HoldCo $ (4,715 ) $ (2,795 ) Lanis $ (2,015 ) $ (1,898 )

Significant Accounting Polici36

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 01, 2014
Summary Of Significant Accounting Policies [Line Items]
Increase in surplus note and vehicle note		$ 36	$ 50.3	$ 57.1
Interest rate on surplus note					4.00%
Interest expense on surplus note		$ 26.9	$ 25.1	$ 22.9
Lancaster
Summary Of Significant Accounting Policies [Line Items]
Surplus note re issued					$ 513
Scenario, Plan
Summary Of Significant Accounting Policies [Line Items]
Impact of new Accounting guidance, AOCI	$ 9.6
Impact of new Accounting guidance, retained earnings	$ (9.6)
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	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 8,161,592	$ 8,284,148
Gross Unrealized Gains	315,090	110,983
Gross Unrealized Losses	(61,721)	(197,006)
Fair Value	8,414,961	8,198,125
Amortized Cost	8,152	5,100
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	8,152	5,100
Amortized Cost	8,169,744	8,289,248
Gross Unrealized Gains	315,090	110,983
Gross Unrealized Losses	(61,721)	(197,006)
Fair Value	8,423,113	8,203,225
U.S. Treasury Securities and Obligations of U.S. Government Authority and Agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	416,639	508,635
Gross Unrealized Gains	5,322	7,681
Gross Unrealized Losses	(12,366)	(14,979)
Fair Value	409,595	501,337
Obligations of U.S. States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	741,343	702,415
Gross Unrealized Gains	37,908	15,936
Gross Unrealized Losses	(2,720)	(8,614)
Fair Value	776,531	709,737
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	24,242	31,009
Gross Unrealized Gains	234	303
Gross Unrealized Losses	(1,685)	(3,257)
Fair Value	22,791	28,055
All other corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,169,204	5,963,354
Gross Unrealized Gains	258,440	74,854
Gross Unrealized Losses	(37,898)	(151,382)
Fair Value	6,389,746	5,886,826
Asset-backed securities ("ABS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	478,329	512,486
Gross Unrealized Gains	5,289	5,370
Gross Unrealized Losses	(3,395)	(10,093)
Fair Value	480,223	507,763
Commercial mortgage-backed securities ("CMBS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	189,596	385,757
Gross Unrealized Gains	1,377	1,283
Gross Unrealized Losses	(3,148)	(5,778)
Fair Value	187,825	381,262
Residential mortgage-backed securities ("RMBS")
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	127,439	180,492
Gross Unrealized Gains	6,520	5,556
Gross Unrealized Losses	(509)	(2,903)
Fair Value	133,450	$ 183,145
Redeemable Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14,800
Fair Value	$ 14,800

Schedule for Fixed Income Sec38

Schedule for Fixed Income Securities Based on Contractual Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amortized cost
Due in one year or less	$ 248,382
Due after one year through five years	887,745
Due after five years through ten years	1,130,051
Due after ten years	4,843,874
Total before asset and mortgage-backed securities	7,110,052
Asset and mortgage-backed securities	1,051,540
Amortized Cost	8,161,592	$ 8,284,148
Fair value
Due in one year or less	249,454
Due after one year through five years	901,528
Due after five years through ten years	1,166,334
Due after ten years	5,042,200
Total before asset and mortgage-backed securities	7,359,516
Asset and mortgage-backed securities	1,055,445
Total fixed maturities	$ 8,414,961	$ 8,198,125

Schedule of Commercial Mortgage

Schedule of Commercial Mortgage Loan Portfolio by Geographical Region (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	$ 1,043,187	$ 1,455,156
General allowance for loan loss	0	0
Total commercial mortgage loans	1,043,187	1,455,156
ALABAMA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	1,056	1,287
ARIZONA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	20,009	20,389
CALIFORNIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	173,101	255,023
COLORADO
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	57,293	57,269
CONNECTICUT
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		25,317
FLORIDA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	103,869	123,194
GEORGIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	63,526	65,414
HAWAII
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	5,020	6,099
ILLINOIS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	87,957	114,549
IOWA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	791	1,033
KANSAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	9,200	9,200
KENTUCKY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	6,538	7,154
MAINE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		3,686
MARYLAND
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	19,851	20,975
MASSACHUSETTS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	53,605	77,772
MINNESOTA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	116,923	132,395
NEVADA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	80,768	84,721
NEW JERSEY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	34,101	65,908
NEW YORK
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	50,691	66,502
NORTH CAROLINA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	34,022	55,851
OHIO
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	12,526	38,611
PENNSYLVANIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	1,007	31,929
SOUTH CAROLINA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	1,310	1,948
TENNESSEE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		3,238
TEXAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	100,066	133,020
UTAH
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	7,823	42,641
VIRGINIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	975	1,676
Washington
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	77	3,681
WISCONSIN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value	$ 1,082	$ 4,674

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, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 1,043,187	$ 1,455,156
Estimated Fair Value	$ 1,044,531	$ 1,465,113
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	$ 954,348	$ 1,381,742
Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	88,839	62,060
Debt Service Coverage Ratio Less than 1.00x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		11,354
Loan To Value Ratio Less Than 65%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	780,472	833,246
Estimated Fair Value	$ 782,640	$ 848,702
Recorded Investment, % of Total	74.80%	57.30%
Estimated Fair Value, % of Total	74.90%	57.90%
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 731,577	$ 785,149
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	48,895	36,743
Loan To Value Ratio Less Than 65% | Debt Service Coverage Ratio Less than 1.00x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		11,354
Loan To Value Ratio 65% to 75%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	262,715	606,505
Estimated Fair Value	$ 261,891	$ 601,587
Recorded Investment, % of Total	25.20%	41.70%
Estimated Fair Value, % of Total	25.10%	41.10%
Loan To Value Ratio 65% to 75% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 222,771	$ 581,188
Loan To Value Ratio 65% to 75% | Debt Service Coverage Ratio 1.00x - 1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment	$ 39,944	25,317
Loan To Value Ratio 76% to 80%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		10,493
Estimated Fair Value		$ 10,494
Recorded Investment, % of Total	0.00%	0.70%
Estimated Fair Value, % of Total	0.00%	0.70%
Loan To Value Ratio 76% to 80% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		$ 10,493
Loan To Value Ratio Greater than 80%
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		4,912
Estimated Fair Value		$ 4,330
Recorded Investment, % of Total	0.00%	0.30%
Estimated Fair Value, % of Total	0.00%	0.30%
Loan To Value Ratio Greater than 80% | Debt Service Coverage Ratio >1.20x
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment		$ 4,912

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Commercial Mortgage Loan	$ 1,043,200,000	$ 1,450,300,000
Non-taxable exchanges	11,000,000	11,100,000	$ 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	4,400,000	$ 0	$ 0
Past Due 90 to 179 Days
Schedule of Investments [Line Items]
Commercial Mortgage Loan	$ 4,900,000

Other Invested Assets (Detail)

Other Invested Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Other invested assets	$ 21,183	$ 19,406
Low Income Housing Tax Credit Properties
Schedule of Investments [Line Items]
Other invested assets	138	457
Derivative
Schedule of Investments [Line Items]
Other invested assets	$ 21,045	$ 18,949

Schedule of Net Investment Inco

Schedule of Net Investment Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	$ 415,927	$ 409,919	$ 408,013
Investment expenses	14,814	12,836	9,082
Net investment income	401,113	397,083	398,931
Adjustments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Net investment income		397,083
Fixed income securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	345,299	330,253	334,931
Commercial Mortgage Loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	56,510	69,360	63,028
Cash And Short Term Investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	1,718	1,007	511
Other investment (loss) income
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	8,421	8,845	$ 9,543
Common Stock
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	224
Fixed maturities, at fair value option
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income, before expense	$ 3,755	$ 454

Schedule of Realized Investment

Schedule of Realized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment Realized gains (losses)
Net realized gains	$ 38,123	$ 73,720	$ 113,538
Fixed maturities, available for sale
Investment Realized gains (losses)
Net realized gains	11,434	66,560	120,421
Fixed maturities, at fair value option
Investment Realized gains (losses)
Net realized gains	1,486	(733)
Commercial Mortgage Loans
Investment Realized gains (losses)
Net realized gains	5,935	4,037	2,325
Other Invested Assets
Investment Realized gains (losses)
Net realized gains	(92)
Derivative
Investment Realized gains (losses)
Net realized gains	$ 19,360	$ 3,856	$ (9,208)

Proceeds from Sale of Fixed Mat

Proceeds from Sale of Fixed Maturities and Gross Realized Investment Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale Proceeds from sales	$ 1,496,242	$ 3,027,998	$ 3,864,356
Fixed maturities, available-for-sale, Gross investment gains from sales	29,271	109,282	142,534
Fixed maturities, available-for-sale, Gross investment losses from sales	$ (11,893)	$ (35,136)	$ (16,348)

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, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	$ 1,151,712	$ 3,362,489
Unrealized losses, continuous unrealized loss position for less than 12 months	(12,569)	(132,730)
Fair value, continuous unrealized loss position for Greater 12 months	811,388	657,482
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(49,152)	(64,276)
Fair Value	1,963,100	4,019,971
Gross Unrealized Losses	(61,721)	(197,006)
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	215,767	276,025
Unrealized losses, continuous unrealized loss position for less than 12 months	(3,499)	(14,951)
Fair value, continuous unrealized loss position for Greater 12 months	107,344	1,059
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(8,867)	(28)
Fair Value	323,111	277,084
Gross Unrealized Losses	(12,366)	(14,979)
Obligations of U.S. States and Political Subdivisions
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	38,171	206,090
Unrealized losses, continuous unrealized loss position for less than 12 months	(825)	(8,314)
Fair value, continuous unrealized loss position for Greater 12 months	45,877	5,274
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(1,895)	(300)
Fair Value	84,048	211,364
Gross Unrealized Losses	(2,720)	(8,614)
Foreign government
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	296	769
Unrealized losses, continuous unrealized loss position for less than 12 months	(4)	(34)
Fair value, continuous unrealized loss position for Greater 12 months	11,098	14,632
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(1,681)	(3,223)
Fair Value	11,394	15,401
Gross Unrealized Losses	(1,685)	(3,257)
All other corporate securities
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	740,795	2,385,689
Unrealized losses, continuous unrealized loss position for less than 12 months	(6,841)	(94,085)
Fair value, continuous unrealized loss position for Greater 12 months	489,367	512,710
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(31,057)	(57,297)
Fair Value	1,230,162	2,898,399
Gross Unrealized Losses	(37,898)	(151,382)
Asset-backed securities ("ABS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	77,050	204,555
Unrealized losses, continuous unrealized loss position for less than 12 months	(689)	(8,456)
Fair value, continuous unrealized loss position for Greater 12 months	99,327	39,450
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(2,706)	(1,637)
Fair Value	176,377	244,005
Gross Unrealized Losses	(3,395)	(10,093)
Commercial mortgage-backed securities ("CMBS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	72,725	228,303
Unrealized losses, continuous unrealized loss position for less than 12 months	(593)	(5,231)
Fair value, continuous unrealized loss position for Greater 12 months	36,540	43,903
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(2,555)	(547)
Fair Value	109,265	272,206
Gross Unrealized Losses	(3,148)	(5,778)
Residential mortgage-backed securities ("RMBS")
Schedule of Investments [Line Items]
Fair value, continuous unrealized loss position for less than 12 months	6,908	61,058
Unrealized losses, continuous unrealized loss position for less than 12 months	(118)	(1,659)
Fair value, continuous unrealized loss position for Greater 12 months	21,835	40,454
Gross Unrealized losses, continuous unrealized loss position for Greater than 12 months	(391)	(1,244)
Fair Value	28,743	101,512
Gross Unrealized Losses	$ (509)	$ (2,903)

Net Unrealized Investment Gains

Net Unrealized Investment Gains and Losses in Accumulated other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Unrealized Gains Losses on Investment Securities
Schedule of Investments [Line Items]
Balance	$ (85,550)	$ (327,781)	$ 159,261
Net investment gains and losses on investments arising during the period	332,918	160,311	(408,019)
Reclassification adjustment for gains and losses included in net income	(6,001)	(81,920)	79,023
Balance	253,369	(85,550)	(327,781)
Value of Business Acquired
Schedule of Investments [Line Items]
Balance	5,826	36,774	(20,287)
Impact of net unrealized investment gains and losses on VOBA	(21,843)	(30,948)	57,061
Balance	(16,017)	5,826	36,774
Future Policy Benefits and Policyholders' Account Balances
Schedule of Investments [Line Items]
Balance	23,982	52,906	(7,541)
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances	(157,156)	(28,924)	60,447
Balance	(133,174)	23,982	52,906
Deferred Income Tax (Liability) Asset
Schedule of Investments [Line Items]
Balance	19,574	83,402	(45,935)
Net investment gains and losses on investments arising during the period	(111,486)	(56,111)	142,807
Reclassification adjustment for gains and losses included in net income	2,100	28,672	(27,658)
Impact of net unrealized investment gains and losses on VOBA	7,645	10,832	(19,971)
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances	55,005	10,123	(21,157)
Balance	(31,362)	19,574	83,402
Accumulated Net Unrealized Investment Gain (Loss)
Schedule of Investments [Line Items]
Balance	(36,168)	(154,699)	85,498
Net investment gains and losses on investments arising during the period	221,432	104,200	(265,212)
Reclassification adjustment for gains and losses included in net income	(3,901)	(53,248)	51,365
Impact of net unrealized investment gains and losses on VOBA	(14,198)	(20,116)	37,090
Impact of net unrealized investment gains and losses on future policy benefits and policyholders' account balances	(102,151)	(18,801)	39,290
Balance	$ 72,816	$ (36,168)	$ (154,699)

Summary of Notional and Fair Va

Summary of Notional and Fair Value Position of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
Equity Options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Assets		$ 237,250	$ 410,500
Notional Liabilities		234,375	419,225
Gross Fair Value, Assets		39,397	34,248
Gross Fair Value, Liabilities		(18,352)	(15,158)
Future
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Assets			16,913
Gross Fair Value, Liabilities			(141)
Contractholder funds | Guaranteed accumulation benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Liabilities	[1]	53,517	77,212
Gross Fair Value, Liabilities	[1]	(4,557)	(6,724)
Contractholder funds | Guaranteed withdrawal benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Liabilities	[1]	9,939	11,064
Gross Fair Value, Liabilities	[1]	(113)	(111)
Contractholder funds | Equity-indexed annuity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Liabilities	[2]	1,095,253	1,281,993
Gross Fair Value, Liabilities	[2]	(57,531)	(55,871)
Contractholder funds | Equity-indexed life contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Liabilities		531,800	460,261
Gross Fair Value, Liabilities		$ (29,911)	$ (23,803)
[1]	These amounts are fully ceded in accordance with the Company's reinsurance agreements. The corresponding receivables have been excluded from the table above.
[2]	Notional amount represents account value of equity indexed contracts

Derivative Financial Instrume49

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative cash and securities collateral held	$ 0.3	$ 0.9

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) - Derivatives not designated as accounting hedging instruments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Realized investment gains, net | Equity Options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recognized in income, net of reinsurance	$ 17,969	$ 2,472	$ (7,557)
Realized investment gains, net | Future
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recognized in income, net of reinsurance	1,391	884	(1,651)
Realized investment gains, net | Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recognized in income, net of reinsurance		500
Policyholders' benefits | Equity-indexed annuity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recognized in income, net of reinsurance	(1,660)	8,267	(478)
Policyholders' benefits | Equity-indexed life contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recognized in income, net of reinsurance	$ (168)	$ (121)	$ 956

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, 2017	Dec. 31, 2016
Assets at fair value
Short term investments	$ 190,376	$ 129,660
Fixed maturities	8,414,961	8,198,125
Equity securities	8,152	5,100
Separate accounts assets	1,460,380	1,342,220
Total assets at fair value	10,204,828	9,708,669
Liabilities at fair value
Separate accounts liabilities	(1,460,380)	(1,342,220)
Total liabilities at fair value	(1,552,492)	(1,428,729)
Guaranteed accumulation benefits
Liabilities at fair value
Policyholders' account balances	(4,557)	(6,724)
Guaranteed withdrawal benefits
Liabilities at fair value
Policyholders' account balances	(113)	(111)
Foreign government
Assets at fair value
Fixed maturities	22,791	28,055
All other corporate securities
Assets at fair value
Fixed maturities	6,389,746	5,886,826
Asset-backed securities ("ABS")
Assets at fair value
Fixed maturities	480,223	507,763
Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed maturities	187,825	381,262
Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed maturities	133,450	183,145
Redeemable Preferred Stock
Assets at fair value
Fixed maturities	14,800
Equity indexed annuity contracts
Liabilities at fair value
Policyholders' account balances	(57,531)	(55,871)
Equity indexed life contracts
Liabilities at fair value
Policyholders' account balances	(29,911)	(23,803)
Recurring basis
Assets at fair value
Short term investments	190,376	129,660
Equity securities		5,100
Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed maturities	409,595	501,337
Recurring basis | States, municipalities and political subdivisions
Assets at fair value
Fixed maturities	776,531	709,737
Recurring basis | Foreign government
Assets at fair value
Fixed maturities	22,791	28,055
Recurring basis | All other corporate securities
Assets at fair value
Fixed maturities	6,389,746	5,886,826
Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed maturities	480,223	507,763
Recurring basis | Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed maturities	187,825	381,262
Recurring basis | Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed maturities	133,450	183,145
Recurring basis | Redeemable Preferred Stock
Assets at fair value
Fixed maturities	14,800
Recurring basis | Equity Options
Assets at fair value
Other invested assets	21,045	19,090
Recurring basis | Future
Assets at fair value
Other invested assets		(141)
Recurring basis | United States Government, Government Agencies and Authorities at fair value option
Assets at fair value
Fixed maturities		14,615
Recurring basis | Fixed maturities, at fair value option
Assets at fair value
Fixed maturities	109,914
Recurring basis | Common Stock
Assets at fair value
Equity securities	8,152
Quoted prices in active markets for identical assets (Level 1)
Assets at fair value
Separate accounts assets	1,460,380	1,342,220
Total assets at fair value	1,828,760	1,588,665
Liabilities at fair value
Separate accounts liabilities	(1,460,380)	(1,342,220)
Total liabilities at fair value	(1,460,380)	(1,342,220)
Quoted prices in active markets for identical assets (Level 1) | Recurring basis
Assets at fair value
Short term investments	190,376	129,660
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed maturities	156,959	97,836
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | Equity Options
Assets at fair value
Other invested assets	21,045	19,090
Quoted prices in active markets for identical assets (Level 1) | Recurring basis | Future
Assets at fair value
Other invested assets		(141)
Significant other observable inputs (Level 2)
Assets at fair value
Total assets at fair value	8,326,735	8,062,845
Liabilities at fair value
Total liabilities at fair value	(29,911)	(23,803)
Significant other observable inputs (Level 2) | Equity indexed life contracts
Liabilities at fair value
Policyholders' account balances	(29,911)	(23,803)
Significant other observable inputs (Level 2) | Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed maturities	247,739	396,928
Significant other observable inputs (Level 2) | Recurring basis | States, municipalities and political subdivisions
Assets at fair value
Fixed maturities	776,531	709,737
Significant other observable inputs (Level 2) | Recurring basis | Foreign government
Assets at fair value
Fixed maturities	22,791	28,055
Significant other observable inputs (Level 2) | Recurring basis | All other corporate securities
Assets at fair value
Fixed maturities	6,371,395	5,867,475
Significant other observable inputs (Level 2) | Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed maturities	462,290	481,628
Significant other observable inputs (Level 2) | Recurring basis | Commercial mortgage-backed securities ("CMBS")
Assets at fair value
Fixed maturities	187,825	381,262
Significant other observable inputs (Level 2) | Recurring basis | Residential mortgage-backed securities ("RMBS")
Assets at fair value
Fixed maturities	133,450	183,145
Significant other observable inputs (Level 2) | Recurring basis | Redeemable Preferred Stock
Assets at fair value
Fixed maturities	14,800
Significant other observable inputs (Level 2) | Recurring basis | United States Government, Government Agencies and Authorities at fair value option
Assets at fair value
Fixed maturities		14,615
Significant other observable inputs (Level 2) | Recurring basis | Fixed maturities, at fair value option
Assets at fair value
Fixed maturities	109,914
Significant unobservable inputs (Level 3)
Assets at fair value
Total assets at fair value	49,333	57,159
Liabilities at fair value
Total liabilities at fair value	(62,201)	(62,706)
Significant unobservable inputs (Level 3) | Guaranteed accumulation benefits
Liabilities at fair value
Policyholders' account balances	(4,557)	(6,724)
Significant unobservable inputs (Level 3) | Guaranteed withdrawal benefits
Liabilities at fair value
Policyholders' account balances	(113)	(111)
Significant unobservable inputs (Level 3) | Equity indexed annuity contracts
Liabilities at fair value
Policyholders' account balances	(57,531)	(55,871)
Significant unobservable inputs (Level 3) | Recurring basis
Assets at fair value
Equity securities		5,100
Significant unobservable inputs (Level 3) | Recurring basis | United States Government, Government Agencies and Authorities
Assets at fair value
Fixed maturities	4,897	6,573
Significant unobservable inputs (Level 3) | Recurring basis | All other corporate securities
Assets at fair value
Fixed maturities	18,351	19,351
Significant unobservable inputs (Level 3) | Recurring basis | Asset-backed securities ("ABS")
Assets at fair value
Fixed maturities	17,933	$ 26,135
Significant unobservable inputs (Level 3) | Recurring basis | Common Stock
Assets at fair value
Equity securities	$ 8,152

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, 2017	Dec. 31, 2016
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value, liability	$ (1,552,492)	$ (1,428,729)
Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value, liability	$ (57,531)	$ (55,871)
Minimum | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	1.40%	1.40%
Maximum | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	1.64%	1.84%
Weighted average | Equity indexed annuity contracts | Option Pricing Model Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected option cost (as a percent)	1.42%	1.45%

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
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	$ 49.3	$ 52.1

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		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
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		$ (55,871)	$ (64,138)	$ (63,660)
Level 3 liabilities, Total gains (losses) included in net income		(1,660)	8,267	(478)
Level 3 liabilities, Total gains (losses) included in OCI		0	0	0
Level 3 liabilities, Transfers into Level 3		0	0	0
Level 3 liabilities, Transfers out of Level 3		0	0	0
Level 3 liabilities, Purchases		0	0	0
Level 3 liabilities, Sales		0	0	0
Level 3 liabilities, Issues		0	0	0
Level 3 liabilities, Settlements		0	0	0
Level 3 liabilities, Balance at end of period		(57,531)	(55,871)	(64,138)
Asset-backed securities ("ABS")
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period		26,135	14,260	5,250
Level 3 liabilities, Total gains (losses) included in net income		1,509	(53)	134
Level 3 liabilities, Total gains (losses) included in OCI		873	347	(2,338)
Level 3 liabilities, Transfers into Level 3			3,093	17,191
Level 3 liabilities, Transfers out of Level 3		(8,828)
Level 3 liabilities, Purchases		16,817	11,165
Level 3 liabilities, Sales				(5,000)
Level 3 liabilities, Issues		0	0	0
Level 3 liabilities, Settlements		(18,573)	(2,677)	(977)
Level 3 liabilities, Balance at end of period		17,933	26,135	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]	(6,835)	(7,814)	(6,733)
Level 3 liabilities, Total gains (losses) included in net income	[1]	2,165	979	(1,081)
Level 3 liabilities, Total gains (losses) included in OCI	[1]	0	0	0
Level 3 liabilities, Transfers into Level 3	[1]	0	0	0
Level 3 liabilities, Transfers out of Level 3	[1]	0	0	0
Level 3 liabilities, Purchases	[1]	0	0	0
Level 3 liabilities, Sales	[1]	0	0	0
Level 3 liabilities, Issues	[1]	0	0	0
Level 3 liabilities, Settlements	[1]	0	0	0
Level 3 liabilities, Balance at end of period	[1]	(4,670)	(6,835)	(7,814)
All other corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period		19,351	11,520	7,336
Level 3 liabilities, Total gains (losses) included in net income		(8)	(123)	(282)
Level 3 liabilities, Total gains (losses) included in OCI		121	(246)	30
Level 3 liabilities, Transfers into Level 3			15,370	13,255
Level 3 liabilities, Transfers out of Level 3			(4,483)	(2,386)
Level 3 liabilities, Sales			(955)
Level 3 liabilities, Issues		0	0	0
Level 3 liabilities, Settlements		(1,113)	(1,732)	(6,433)
Level 3 liabilities, Balance at end of period		18,351	19,351	11,520
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period				23,713
Level 3 liabilities, Total gains (losses) included in net income				14
Level 3 liabilities, Issues				0
Level 3 liabilities, Settlements				(23,727)
Commercial mortgage-backed securities ("CMBS")
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period				2,693
Level 3 liabilities, Total gains (losses) included in net income				23,506
Level 3 liabilities, Total gains (losses) included in OCI				314
Level 3 liabilities, Sales				(20,192)
Level 3 liabilities, Issues				0
Level 3 liabilities, Settlements				$ (6,321)
United States Government, Government Agencies and Authorities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period		6,573
Level 3 liabilities, Total gains (losses) included in net income		(1,308)	(491)
Level 3 liabilities, Total gains (losses) included in OCI		(368)	187
Level 3 liabilities, Purchases			6,877
Level 3 liabilities, Issues		0	0
Level 3 liabilities, Balance at end of period		4,897	6,573
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Level 3 liabilities, Balance at beginning of period		5,100
Level 3 liabilities, Purchases		3,052	5,100
Level 3 liabilities, Issues		0	0
Level 3 liabilities, Balance at end of period		$ 8,152	$ 5,100
[1]	These amounts are 100% ceded in accordance with the Company's reinsurance agreements.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 2,038,694	$ 2,332,246
Liabilities	6,176,546	6,103,043
Investment Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	5,439,621	5,418,188
Other Long Term Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	736,925	684,855
Commercial Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,044,531	1,465,113
Policy Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	178,437	178,890
Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	78,801	3,388
Vehicle Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	736,925	684,855
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	78,801	3,388
Quoted prices in active markets for identical assets (Level 1) | Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	78,801	3,388
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,959,893	2,328,858
Liabilities	6,176,546	6,103,043
Significant unobservable inputs (Level 3) | Investment Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	5,439,621	5,418,188
Significant unobservable inputs (Level 3) | Other Long Term Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	736,925	684,855
Significant unobservable inputs (Level 3) | Commercial Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,044,531	1,465,113
Significant unobservable inputs (Level 3) | Policy Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	178,437	178,890
Significant unobservable inputs (Level 3) | Vehicle Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 736,925	$ 684,855

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Effects of Reinsurance [Line Items]
Reinsurance recoverable supported by comfort trust	$ 6,501,700	$ 6,280,337
Deposit receivable	1,111,571	1,199,537
Modified coinsurance payable	$ 1,111,571	$ 1,199,537
Sales Revenue | Credit Concentration Risk | Non-affiliates | Rated A- or better
Effects of Reinsurance [Line Items]
Reinsurance recoverable	99.80%	99.80%
Sales Revenue | Credit Concentration Risk | Non-affiliates | Rated A- or better | Comfort Trust [Member]
Effects of Reinsurance [Line Items]
Reinsurance recoverable supported by comfort trust	$ 5,900,000	$ 5,900,000
Sales Revenue | Credit Concentration Risk | Non-affiliates | Rated A- or better | Allstate Life Insurance Company
Effects of Reinsurance [Line Items]
Reinsurance recoverable	73.00%	75.00%

Schedule of Effects of Reinsura

Schedule of Effects of Reinsurance on Premiums and Contract Charges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effects of Reinsurance [Line Items]
Direct premiums and contract charges	$ 1,294,462	$ 1,328,917	$ 1,463,472
Assumed premiums and contract charges	4,768	4,749	5,939
Ceded premiums and contract charges	(949,894)	(971,047)	(1,106,638)
Net amount	$ 349,336	$ 362,619	$ 362,773

Schedule of Effects of Reinsu58

Schedule of Effects of Reinsurance on Interest Credited to contract holder Funds, Contract Benefits and Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effects of Reinsurance [Line Items]
Direct interest credited to contractholder funds, contract benefits and expenses	$ 1,668,358	$ 1,643,710	$ 1,603,724
Assumed interest credited to contractholder funds, contract benefits and expenses	6,003	6,453	6,743
Ceded interest credited to contractholder funds, contract benefits and expenses	(957,374)	(931,557)	(957,643)
Return credited to policyholders' account balances and policyholder benefits, net of reinsurance	$ 716,987	$ 718,606	$ 652,824

Components of Deferred Income T

Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets
Policyholder reserves	$ 1,351,638	$ 2,139,431
Deferred acquisition costs	50,739	65,002
Deferred financing costs	2,154	6,311
Investments		29,721
Other assets	3,800	5,137
Total deferred tax assets	1,408,331	2,245,602
Deferred tax liabilities
Value of business acquired	(28,356)	(65,345)
Amounts recoverable from reinsurers	(1,347,620)	(2,172,500)
Intangibles	(1,092)	(1,820)
Investments	(54,605)
Other liabilities	(1,243)	(2,251)
Total deferred tax liabilities	(1,432,916)	(2,241,916)
Net deferred tax asset (liability)		$ 3,686
Net deferred tax asset (liability)	$ (24,585)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward		$ 0	$ 0
Capital loss carryforwards		$ 0	$ 0
Federal statutory tax rate		35.00%
Income Tax benefit, new tax reform		$ (11,500,000)
Percentage of carryforward NOL limitation, new tax reform		80.00%
Tax Cuts And Jobs Act of 2017 | Scenario, Plan
Schedule Of Income Taxes [Line Items]
Federal statutory tax rate	21.00%

Reconciliation of Statutory Fed

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Rate Reconciliation [Line Items]
Expected federal income tax expense (benefit)	$ (2,124)	$ 16,135	$ 45,062
Dividends received deduction	(1,960)	(1,960)	(2,443)
Tax reform	(11,461)
Other	(268)	472	3,475
Total income tax expense (benefit)	$ (15,813)	$ 14,647	$ 46,094

Schedule of Future Policy Benef

Schedule of Future Policy Benefits and Other Policyholder Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	$ 5,510,050	$ 5,111,791
Traditional life insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	1,607,149	1,598,071
Immediate fixed annuities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	466,723	520,380
Accident And Health Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	1,809,006	1,693,598
Equity indexed annuity contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	32,601	40,298
Other Life Contingent Products
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reserve for life-contingent contract benefits	$ 1,594,571	$ 1,259,444

Future Policy Benefits and Ot63

Future Policy Benefits and Other Policyholder Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Future policy benefit reserves including gross unpaid claim reserves	$ 5,510,050	$ 5,111,791
Accident And Health Insurance
Future policy benefit reserves including gross unpaid claim reserves	$ 256,700	$ 218,000
Minimum
Interest rate determination of present values, percentage	2.50%
Maximum
Interest rate determination of present values, percentage	6.00%

Policyholder Account Balances64

Policyholder Account Balances (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	$ 10,676,911	$ 10,935,372
Adjustments
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	10,676,911
Interest-sensitive life insurance
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	5,499,037	5,370,563
Equity indexed annuity contracts
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	4,761,155	5,298,452
Funding agreements
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	408,165	255,200
Other investment contracts
Policyholder Contract Deposits By Product [Line Items]
Total policyholders' account balances	$ 8,554	$ 11,157

Policyholder Account Balances -

Policyholder Account Balances - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
Minimum
Interest crediting rates range for sensitive contracts	0.40%
Interest crediting rates for individual annuities	0.00%
Interest crediting rates for funding agreements	0.50%
Maximum
Interest crediting rates range for sensitive contracts	6.00%
Interest crediting rates for individual annuities	6.00%
Interest crediting rates for funding agreements	1.00%

Summary of Variable Annuity Con

Summary of Variable Annuity Contracts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Guaranteed accumulation benefits | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 52.9	$ 75.8
Net amount at risk	$ 4.6	$ 6.2
Weighted average waiting period until guarantee date	5 years	5 years
Guaranteed withdrawal benefits | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 9.9	$ 10.9
Net amount at risk	0.1	0.1
GMIB | Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	121.8	116.5
Net amount at risk	$ 10.6	$ 15.8
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	$ 543.4	$ 543.1
Net amount at risk	$ 44.1	$ 57.5
Average attained age of contractholders	62 years	61 years
GMDB | Variable Life, Variable Universal Life and Universal Life Contracts
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 396.7	$ 348
General account value	3,687.9	3,684.1
Net amount at risk	$ 71,791	$ 77,609
Average attained age of contractholders	50 years	49 years

Liabilities for Guarantee Benef

Liabilities for Guarantee Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	$ 942,754	$ 763,606	$ 648,492
Less: reinsurance recoverable	141,509	122,638	107,064
Net beginning balance	801,245	640,968	541,428
Incurred guarantee benefits	309,455	316,344	217,603
Paid guarantee benefits	(151,946)	(156,067)	(118,063)
Net change	157,509	160,277	99,540
Net ending balance	958,754	801,245	640,968
Plus reinsurance recoverable	164,052	141,509	122,638
Gross ending balance	1,122,806	942,754	763,606
Variable Annuity | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	8,626	8,844	8,358
Less: reinsurance recoverable	8,626	8,844	8,358
Plus reinsurance recoverable	7,516	8,626	8,844
Gross ending balance	7,516	8,626	8,844
Variable Annuity | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	3,440	5,663	8,240
Less: reinsurance recoverable	3,440	5,663	8,240
Plus reinsurance recoverable	2,248	3,440	5,663
Gross ending balance	2,248	3,440	5,663
Variable Annuity | GMWB/GMAB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	6,835	7,814	6,733
Less: reinsurance recoverable	6,835	7,814	6,733
Plus reinsurance recoverable	4,670	6,835	7,814
Gross ending balance	4,670	6,835	7,814
Secondary Guarantees Interest-Sensitive Life and Fixed Annuities
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Gross beginning balance	923,853	741,285	625,161
Less: reinsurance recoverable	122,608	100,317	83,733
Net beginning balance	801,245	640,968	541,428
Incurred guarantee benefits	309,455	316,344	217,603
Paid guarantee benefits	(151,946)	(156,067)	(118,063)
Net change	157,509	160,277	99,540
Net ending balance	958,754	801,245	640,968
Plus reinsurance recoverable	149,618	122,608	100,317
Gross ending balance	$ 1,108,372	$ 923,853	$ 741,285

Changes to Value of Business Ac

Changes to Value of Business Acquired (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance at beginning of period		$ 186,701	$ 247,702	$ 231,521
Business acquired		0	0	0
Amortized to expense during the year	[1]	(29,827)	(30,053)	(40,880)
Adjustment for unrealized investment losses during the year		(21,843)	(30,948)
Adjustment for unrealized investment gains during the year				57,061
Balance at end of year		$ 135,031	$ 186,701	$ 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)	Dec. 31, 2017
VOBA Amortization
2,018	13.00%
2,019	11.00%
2,020	9.00%
2,021	8.00%
2022 and thereafter	59.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Line Items]
Accrued guaranty fund	$ 3,300,000	$ 3,600,000
Estimated future of premium tax deductions	7,500,000
Amount of deposit with governmental authorities required by law	8,600,000	8,800,000
Derivative cash collateral received	300,000	900,000
Assets pledged as collateral	538,700,000	339,900,000
Mortgage Backed Securities
Commitments and Contingencies Disclosure [Line Items]
Funds pledged on mortgage loans held investment portfolio	$ 8,500,000	$ 14,200,000

Regulatory Capital and Divide71

Regulatory Capital and Dividends - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statutory Accounting Practices [Line Items]
Statutory net income	$ 64,000	$ 52,000	$ 74,000
Statutory capital and surplus	426,000	560,000
Dividends to shareholder	$ 70,000	$ 42,000	$ 187,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property Subject to or Available for Operating Lease [Line Items]
Lease operating expense	$ 0.2	$ 0.2	$ 0.1

Minimum Aggregate Rental Commit

Minimum Aggregate Rental Commitments (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Property Subject to or Available for Operating Lease [Line Items]
2,018	$ 208
2,019	213
2,020	218
2,021	224
2,022	229
All future years	764
Aggregate total	$ 1,856

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Holdco
Related Party Transaction [Line Items]
Related party transactions expense recognized on transaction	$ 18.9	$ 14.1	$ 13.9
Lanis
Related Party Transaction [Line Items]
Related party transactions expense recognized on transaction	$ 7.8	$ 7.3	$ 6.7

Receivables_ (Payables) to Affi

Receivables/ (Payables) to Affiliates (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Holdco
Related Party Transaction [Line Items]
Receivables/ (Payables) to Affiliates	$ (4,715)	$ (2,795)
Lanis
Related Party Transaction [Line Items]
Receivables/ (Payables) to Affiliates	$ (2,015)	$ (1,898)

Schedule I - Consolidated Summa

Schedule I - Consolidated Summary of Investments Other Than Investments in Related Parties (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	$ 9,711,733
Fair value	8,554,072
Amount at which shown in the Balance Sheet	9,966,210
United States Government, Government Agencies and Authorities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	416,639
Fair value	409,595
Amount at which shown in the Balance Sheet	409,595
States, municipalities and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	741,343
Fair value	776,531
Amount at which shown in the Balance Sheet	776,531
Foreign government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	24,242
Fair value	22,791
Amount at which shown in the Balance Sheet	22,791
All other corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	6,169,204
Fair value	6,389,746
Amount at which shown in the Balance Sheet	6,389,746
Residential mortgage-backed securities ("RMBS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	127,439
Fair value	133,450
Amount at which shown in the Balance Sheet	133,450
Commercial mortgage-backed securities ("CMBS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	189,596
Fair value	187,825
Amount at which shown in the Balance Sheet	187,825
Asset-backed securities ("ABS")
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	478,329
Fair value	480,223
Amount at which shown in the Balance Sheet	480,223
Fixed income securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	8,271,897
Fair value	8,524,875
Amount at which shown in the Balance Sheet	8,524,875
Policy Loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	178,437
Amount at which shown in the Balance Sheet	178,437
Derivatives
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	19,546
Fair value	21,045
Amount at which shown in the Balance Sheet	21,045
Other long-term assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	138
Amount at which shown in the Balance Sheet	138
Short-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	190,376
Amount at which shown in the Balance Sheet	190,376
Other securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,439,836
Fair value	29,197
Amount at which shown in the Balance Sheet	1,441,335
Commercial Mortgage Loan
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,043,187
Amount at which shown in the Balance Sheet	1,043,187
Redeemable Preferred Stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	14,800
Fair value	14,800
Amount at which shown in the Balance Sheet	14,800
Fixed maturities, available for sale
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	8,161,592
Fair value	8,414,961
Amount at which shown in the Balance Sheet	8,414,961
Trading Securities [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	110,305
Fair value	109,914
Amount at which shown in the Balance Sheet	109,914
Common Stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	8,152
Fair value	8,152
Amount at which shown in the Balance Sheet	$ 8,152

Schedule IV - Consolidated Rein

Schedule IV - Consolidated Reinsurance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 1,294,462	$ 1,328,917	$ 1,463,472
Ceded to other companies	(949,894)	(971,047)	(1,106,638)
Assumed from other companies	4,768	4,749	5,939
Net amount	$ 349,336	$ 362,619	$ 362,773
Percentage of amount assumed to net	1.40%	1.30%	1.60%
Gross amount	$ 343,103,636	$ 365,008,309	$ 390,226,197
Ceded to other companies	338,144,016	359,316,014	384,704,438
Assumed from other companies	4,049,125	4,180,222	4,601,282
Net amount	$ 9,008,745	$ 9,872,516	$ 10,123,041
Percentage of amount assumed to net	44.90%	42.30%	45.50%
Life and Annuity Insurance Product Line
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 1,236,410	$ 1,270,770	$ 1,405,005
Ceded to other companies	(895,505)	(918,414)	(1,056,276)
Assumed from other companies	4,768	4,749	5,939
Net amount	$ 345,673	$ 357,105	$ 354,668
Percentage of amount assumed to net	1.40%	1.30%	1.70%
Accident And Health Insurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross amount	$ 58,052	$ 58,147	$ 58,467
Ceded to other companies	(54,389)	(52,633)	(50,362)
Net amount	$ 3,663	$ 5,514	$ 8,105
Percentage of amount assumed to net	0.00%	0.00%	0.00%