Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017 are summarized below (dollars in thousands):



December 31, 2018:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	23,982,119		$	—	$	22,651,194		$	1,330,925
Canadian government	3,892,385			—		3,364,261			528,124
RMBS	1,869,221			—		1,862,366			6,855
ABS	2,149,204			—		2,053,632			95,572
CMBS	1,419,034			—		1,419,012			22
U.S. government	2,185,874			2,067,529		100,320			18,025
State and political subdivisions	752,194			—		741,992			10,202
Other foreign government	3,742,315			—		3,737,309			5,006
Total fixed maturity securities – available-for-sale	39,992,346			2,067,529		35,930,086			1,994,731
Equity securities	82,197			48,737		—			33,460
Funds withheld at interest – embedded derivatives	109,597			—		—			109,597
Cash equivalents	485,167			473,509		11,658			—
Short-term investments	105,991			4,989		98,774			2,228
Other invested assets:
Derivatives:
Interest rate swaps	37,976			—		37,976			—
Foreign currency forwards	50,740			—		50,740			—
Credit default swaps	4,466			—		4,466			—
Equity options	36,206			—		36,206			—
Foreign currency swaps	51,311			—		51,311			—
FVO contractholder-directed unit-linked investments	197,770			196,781		989			—
Total other invested assets	378,469			196,781		181,688			—
Other assets - longevity swaps	47,789			—		—			47,789
Total	$	41,201,556		$	2,791,545	$	36,222,206		$	2,187,805
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	944,865		$	—	$	—		$	944,865
Other liabilities:
Derivatives:
Interest rate swaps	18,542			—		18,542			—
Foreign currency swaps - non-hedged	4,155			—		4,155			—
CPI swaps	11,384			—		11,384			—
Credit default swaps	(371		)	—		(371		)	—
Equity options	(6,630		)	—		(6,630		)	—
Mortality swaps	369			—		—			369
Total	$	972,314		$	—	$	27,080		$	945,234



December 31, 2017:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	23,210,968		$	—	$	21,873,696		$	1,337,272
Canadian government	4,220,076			—		3,626,134			593,942
RMBS	1,719,880			—		1,611,998			107,882
ABS	1,648,362			—		1,524,888			123,474
CMBS	1,303,387			—		1,300,153			3,234
U.S. government	1,943,592			1,818,006		103,075			22,511
State and political subdivisions	703,428			—		662,225			41,203
Other foreign government	3,401,127			—		3,396,035			5,092
Total fixed maturity securities – available-for-sale	38,150,820			1,818,006		34,098,204			2,234,610
Equity securities:
Non-redeemable preferred stock	39,806			39,806		—			—
Other equity securities	60,346			60,346		—			—
Funds withheld at interest – embedded derivatives	122,194			—		—			122,194
Cash equivalents	356,788			354,071		2,717			—
Short-term investments	50,746			—		47,650			3,096
Other invested assets:
Derivatives:
Interest rate swaps	51,359			—		51,359			—
Foreign currency forwards	730			—		730			—
CPI swaps	(221		)	—		(221		)	—
Credit default swaps	5,908			—		5,908			—
Equity options	16,932			—		16,932			—
Foreign currency swaps	62,905			—		62,905			—
FVO contractholder-directed unit-linked investments	218,541			217,618		923			—
Total other invested assets	356,154			217,618		138,536			—
Other assets - longevity swaps	40,659			—		—			40,659
Total	$	39,177,513		$	2,489,847	$	34,287,107		$	2,400,559
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	1,014,228		$	—	$	—		$	1,014,228
Other liabilities:
Derivatives:
Interest rate swaps	14,311			—		14,311			—
Foreign currency forwards	7,213			—		7,213			—
CPI swaps	1,939			—		1,939			—
Credit default swaps	(760		)	—		(760		)	—
Equity options	(6,339		)	—		(6,339		)	—
Foreign currency swaps	6,194			—		6,194			—
Mortality swaps	1,683			—		—			1,683
Total	$	1,038,469		$	—	$	22,558		$	1,015,911

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Level Transfers [Table Text Block]

There were no transfers between Level 1 and Level 2 for the year ended December 31, 2018. The following table presents the transfers between Level 1 and Level 2 during the year ended December 31, 2017 (dollars in thousands):



	2017
	Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1
Fixed maturity securities - available-for-sale:
Corporate	$	596,809	$	88,674
Other foreign government	317,640		—

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed internally by the Company as of December 31, 2018 and 2017 (dollars in thousands):



	Fair Value				Valuation	Unobservable	Range (Weighted Average)
Assets:	2018		2017		Technique	Input	2018	2017
Corporate	$	642,647	$	173,579	Market comparable securities	Liquidity premium	0-5% (1%)	0-2% (1%)
						EBITDA Multiple	5.9x-7.5x (6.5x)	—
ABS	77,842		—		Market comparable securities	Liquidity premium	0-1% (1%)	—
U.S. government	18,025		22,511		Market comparable securities	Liquidity premium	0-1% (1%)	0-1% (1%)
State and political subdivisions	—		4,616		Market comparable securities	Liquidity premium	—	1%
Other foreign government	5,006		—		Market comparable securities	Liquidity premium	1%	—
Equity securities	25,007		—		Market comparable securities	Liquidity premium	4%	—
						EBITDA Multiple	6.9x-12.3x (7.9x)	—
Funds withheld at interest- embedded derivatives	109,597		122,194		Total return swap	Mortality	0-100% (2%)	0-100% (2%)
						Lapse	0-35% (10%)	0-35% (9%)
						Withdrawal	0-5% (3%)	0-5% (3%)
						CVA	0-5% (1%)	0-5% (1%)
						Crediting rate	2-4% (2%)	2-4% (2%)
Longevity swaps	47,789		40,659		Discounted cash flow	Mortality	0-100% (2%)	0-100% (2%)
						Mortality improvement	(10%)-10% (3%)	(10%)-10% (3%)
Liabilities:
Interest-sensitive contract liabilities- embedded derivatives- indexed annuities	776,940		861,758		Discounted cash flow	Mortality	0-100% (2%)	0-100% (2%)
						Lapse	0-35% (10%)	0-35% (9%)
						Withdrawal	0-5% (3%)	0-5% (3%)
						Option budget projection	2-4% (2%)	2-4% (2%)
Interest-sensitive contract liabilities- embedded derivatives- variable annuities	167,925		152,470		Discounted cash flow	Mortality	0-100% (1%)	0-100% (1%)
						Lapse	0-25% (5%)	0-25% (5%)
						Withdrawal	0-7% (5%)	0-7% (3%)
						CVA	0-5% (1%)	0-5% (1%)
						Long-term volatility	0-27% (13%)	0-27% (8%)
Mortality swaps	369		1,683		Discounted cash flow	Mortality	0-100% (1%)	0-100% (1%)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the year ended December 31, 2018:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government			RMBS			ABS
Fair value, beginning of period	$	1,337,272		$	593,942		$	107,882		$	123,474
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,045		)	13,965			(129		)	224
Investment related gains (losses), net	(4,651		)	—			312			1,910
Included in other comprehensive income	(32,983		)	(79,783		)	(1,786		)	(1,344		)
Purchases⁽¹⁾	509,134			—			52,279			42,120
Sales⁽¹⁾	(106,005		)	—			(4,961		)	(462		)
Settlements⁽¹⁾	(273,898		)	—			(4,633		)	(57,476		)
Transfers into Level 3	9,948			—			3,031			73,289
Transfers out of Level 3	(106,847		)	—			(145,140		)	(86,163		)
Fair value, end of period	$	1,330,925		$	528,124		$	6,855		$	95,572
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(998	)	$	13,965		$	3		$	209
Investment related gains (losses), net	(6,320		)	—			—			—



For the year ended December 31, 2018 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	3,234		$	22,511		$	41,203		$	5,092
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			(423		)	9			—
Investment related gains (losses), net	1			(208		)	—			—
Included in other comprehensive income	(65		)	(436		)	66			(86		)
Purchases⁽¹⁾	—			418			—			—
Sales⁽¹⁾	(1,751		)	—			—			—
Settlements⁽¹⁾	(5		)	(3,837		)	(494		)	—
Transfers into Level 3	1,752			—			9,859			—
Transfers out of Level 3	(3,144		)	—			(40,441		)	—
Fair value, end of period	$	22		$	18,025		$	10,202		$	5,006
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	(417	)	$	8		$	—



For the year ended December 31, 2018 (continued):
	Equity securities			Funds withheld at interest-embedded derivatives			Short-term investments			Other assets - longevity swaps			Interest-sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	—		$	122,194		$	3,096		$	40,659		$	(1,014,228	)	$	(1,683	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	(12,600		)	(12,597		)	—			—			(15,455		)	—
Interest credited	—			—			—			—			27,590			—
Included in other comprehensive income	—			—			1			(2,085		)	—			—
Other revenues	—			—			—			9,215			—			(386		)
Purchases⁽¹⁾	13,962			—			2,624			—			(19,182		)	—
Sales⁽¹⁾	(6,759		)	—			(250		)	—			—			—
Settlements⁽¹⁾	(48		)	—			(461		)	—			76,410			1,700
Transfers into Level 3	38,905			—			—			—			—			—
Transfers out of Level 3	—			—			(2,782		)	—			—			—
Fair value, end of period	$	33,460		$	109,597		$	2,228		$	47,789		$	(944,865	)	$	(369	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	(15,992	)	$	(12,597	)	$	—		$	—		$	(22,393	)	$	—
Other revenues	—			—			—			9,215			—			(386		)
Interest credited	—			—			—			—			(48,819		)	—



For the year ended December 31, 2017:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government		RMBS			ABS
Fair value, beginning of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,429		)	13,180		(346		)	1,776
Investment related gains (losses), net	4,991			—		729			245
Included in other comprehensive income	(6,719		)	104,797		2,341			7,044
Purchases⁽¹⁾	408,995			—		76,792			45,215
Sales⁽¹⁾	(89,248		)	—		(28,043		)	—
Settlements⁽¹⁾	(285,958		)	—		(18,988		)	(87,328		)
Transfers into Level 3	47,360			—		9,100			85,152
Transfers out of Level 3	(12,973		)	—		(93,994		)	(147,910		)
Fair value, end of period	$	1,337,272		$	593,942	$	107,882		$	123,474
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,457	)	$	13,180	$	(196	)	$	669
Investment related gains (losses), net	(5,389		)	—		(346		)	—



For the year ended December 31, 2017 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	21,145		$	24,488		$	41,666		$	12,869
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	709			(461		)	(55		)	(1		)
Investment related gains (losses), net	(595		)	—			—			—
Included in other comprehensive income	(71		)	19			(15		)	(252		)
Purchases⁽¹⁾	—			465			—			496
Sales⁽¹⁾	(3,720		)	—			—			—
Settlements⁽¹⁾	(5,404		)	(2,000		)	(843		)	(672		)
Transfers into Level 3	1,302			—			7,294			—
Transfers out of Level 3	(10,132		)	—			(6,844		)	(7,348		)
Fair value, end of period	$	3,234		$	22,511		$	41,203		$	5,092
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	(461	)	$	(54	)	$	(1	)



For the year ended December 31, 2017 (continued):
	Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity swaps		Interest-sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	3,346		$	(22,529	)	$	26,958	$	(990,308	)	$	(2,462	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	—			144,723			—		32,166			—
Interest credited	—			—			—		(80,062		)	—
Included in other comprehensive income	11			—			4,343		—			—
Other revenues	—			—			9,358		—			(921		)
Purchases⁽¹⁾	3,703			—			—		(55,237		)	—
Settlements⁽¹⁾	(335		)	—			—		79,213			1,700
Transfers out of Level 3	(3,629		)	—			—		—			—
Fair value, end of period	$	3,096		$	122,194		$	40,659	$	(1,014,228	)	$	(1,683	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	—		$	144,723		$	—	$	23,472		$	—
Other revenues	—			—			9,358		—			(921		)
Interest credited	—			—			—		(159,276		)	—



For the year ended December 31, 2016:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government		RMBS			ABS
Fair value, beginning of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,399		)	12,197		(595		)	801
Investment related gains (losses), net	(4,756		)	—		(2,153		)	1,101
Included in other comprehensive income	10,022			47,692		(1,621		)	(2,696		)
Purchases⁽¹⁾	312,720			—		103,553			138,522
Sales⁽¹⁾	(60,399		)	—		(167,684		)	(38,681		)
Settlements⁽¹⁾	(195,016		)	—		(38,495		)	(61,770		)
Transfers into Level 3	14,098			—		1,728			56,105
Transfers out of Level 3	(28,987		)	—		(65,091		)	(177,938		)
Fair value, end of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,343	)	$	12,197	$	(158	)	$	734
Investment related gains (losses), net	(817		)	—		(231		)	—



For the year ended December 31, 2016 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	68,563		$	26,265		$	38,342		$	14,065
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1,677			(487		)	215			—
Investment related gains (losses), net	(876		)	—			—			—
Included in other comprehensive income	(5,887		)	39			962			110
Purchases⁽¹⁾	1,545			508			6,952			—
Sales⁽¹⁾	(41,143		)	—			—			—
Settlements⁽¹⁾	(552		)	(1,837		)	(599		)	(1,306		)
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	(2,182		)	—			(4,206		)	—
Fair value, end of period	$	21,145		$	24,488		$	41,666		$	12,869
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	1,552		$	(487	)	$	215		$	—



For the year ended December 31, 2016 (continued):
	Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity swaps			Interest- sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	—		$	(76,698	)	$	14,996		$	(1,070,584	)	$	(2,619	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	—			54,169			—			7,834			—
Interest credited	—			—			—			10,709			—
Included in other comprehensive income	—			—			(1,133		)	—			—
Other revenues	—			—			13,095			—			(172		)
Purchases⁽¹⁾	3,365			—			—			(12,725		)	—
Settlements⁽¹⁾	(19		)	—			—			74,458			329
Fair value, end of period	$	3,346		$	(22,529	)	$	26,958		$	(990,308	)	$	(2,462	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	—		$	54,169		$	—		$	(4,579	)	$	—
Other revenues	—			—			13,095			—			(172		)
Interest credited	—			—			—			(63,748		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the year ended December 31, 2018:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government			RMBS			ABS
Fair value, beginning of period	$	1,337,272		$	593,942		$	107,882		$	123,474
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,045		)	13,965			(129		)	224
Investment related gains (losses), net	(4,651		)	—			312			1,910
Included in other comprehensive income	(32,983		)	(79,783		)	(1,786		)	(1,344		)
Purchases⁽¹⁾	509,134			—			52,279			42,120
Sales⁽¹⁾	(106,005		)	—			(4,961		)	(462		)
Settlements⁽¹⁾	(273,898		)	—			(4,633		)	(57,476		)
Transfers into Level 3	9,948			—			3,031			73,289
Transfers out of Level 3	(106,847		)	—			(145,140		)	(86,163		)
Fair value, end of period	$	1,330,925		$	528,124		$	6,855		$	95,572
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(998	)	$	13,965		$	3		$	209
Investment related gains (losses), net	(6,320		)	—			—			—



For the year ended December 31, 2018 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	3,234		$	22,511		$	41,203		$	5,092
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			(423		)	9			—
Investment related gains (losses), net	1			(208		)	—			—
Included in other comprehensive income	(65		)	(436		)	66			(86		)
Purchases⁽¹⁾	—			418			—			—
Sales⁽¹⁾	(1,751		)	—			—			—
Settlements⁽¹⁾	(5		)	(3,837		)	(494		)	—
Transfers into Level 3	1,752			—			9,859			—
Transfers out of Level 3	(3,144		)	—			(40,441		)	—
Fair value, end of period	$	22		$	18,025		$	10,202		$	5,006
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	(417	)	$	8		$	—



For the year ended December 31, 2018 (continued):
	Equity securities			Funds withheld at interest-embedded derivatives			Short-term investments			Other assets - longevity swaps			Interest-sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	—		$	122,194		$	3,096		$	40,659		$	(1,014,228	)	$	(1,683	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	(12,600		)	(12,597		)	—			—			(15,455		)	—
Interest credited	—			—			—			—			27,590			—
Included in other comprehensive income	—			—			1			(2,085		)	—			—
Other revenues	—			—			—			9,215			—			(386		)
Purchases⁽¹⁾	13,962			—			2,624			—			(19,182		)	—
Sales⁽¹⁾	(6,759		)	—			(250		)	—			—			—
Settlements⁽¹⁾	(48		)	—			(461		)	—			76,410			1,700
Transfers into Level 3	38,905			—			—			—			—			—
Transfers out of Level 3	—			—			(2,782		)	—			—			—
Fair value, end of period	$	33,460		$	109,597		$	2,228		$	47,789		$	(944,865	)	$	(369	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	(15,992	)	$	(12,597	)	$	—		$	—		$	(22,393	)	$	—
Other revenues	—			—			—			9,215			—			(386		)
Interest credited	—			—			—			—			(48,819		)	—



For the year ended December 31, 2017:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government		RMBS			ABS
Fair value, beginning of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,429		)	13,180		(346		)	1,776
Investment related gains (losses), net	4,991			—		729			245
Included in other comprehensive income	(6,719		)	104,797		2,341			7,044
Purchases⁽¹⁾	408,995			—		76,792			45,215
Sales⁽¹⁾	(89,248		)	—		(28,043		)	—
Settlements⁽¹⁾	(285,958		)	—		(18,988		)	(87,328		)
Transfers into Level 3	47,360			—		9,100			85,152
Transfers out of Level 3	(12,973		)	—		(93,994		)	(147,910		)
Fair value, end of period	$	1,337,272		$	593,942	$	107,882		$	123,474
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,457	)	$	13,180	$	(196	)	$	669
Investment related gains (losses), net	(5,389		)	—		(346		)	—



For the year ended December 31, 2017 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	21,145		$	24,488		$	41,666		$	12,869
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	709			(461		)	(55		)	(1		)
Investment related gains (losses), net	(595		)	—			—			—
Included in other comprehensive income	(71		)	19			(15		)	(252		)
Purchases⁽¹⁾	—			465			—			496
Sales⁽¹⁾	(3,720		)	—			—			—
Settlements⁽¹⁾	(5,404		)	(2,000		)	(843		)	(672		)
Transfers into Level 3	1,302			—			7,294			—
Transfers out of Level 3	(10,132		)	—			(6,844		)	(7,348		)
Fair value, end of period	$	3,234		$	22,511		$	41,203		$	5,092
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	(461	)	$	(54	)	$	(1	)



For the year ended December 31, 2017 (continued):
	Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity swaps		Interest-sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	3,346		$	(22,529	)	$	26,958	$	(990,308	)	$	(2,462	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	—			144,723			—		32,166			—
Interest credited	—			—			—		(80,062		)	—
Included in other comprehensive income	11			—			4,343		—			—
Other revenues	—			—			9,358		—			(921		)
Purchases⁽¹⁾	3,703			—			—		(55,237		)	—
Settlements⁽¹⁾	(335		)	—			—		79,213			1,700
Transfers out of Level 3	(3,629		)	—			—		—			—
Fair value, end of period	$	3,096		$	122,194		$	40,659	$	(1,014,228	)	$	(1,683	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	—		$	144,723		$	—	$	23,472		$	—
Other revenues	—			—			9,358		—			(921		)
Interest credited	—			—			—		(159,276		)	—



For the year ended December 31, 2016:	Fixed maturity securities - available-for-sale
	Corporate			Canadian government		RMBS			ABS
Fair value, beginning of period	$	1,226,970		$	416,076	$	330,649		$	303,836
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,399		)	12,197		(595		)	801
Investment related gains (losses), net	(4,756		)	—		(2,153		)	1,101
Included in other comprehensive income	10,022			47,692		(1,621		)	(2,696		)
Purchases⁽¹⁾	312,720			—		103,553			138,522
Sales⁽¹⁾	(60,399		)	—		(167,684		)	(38,681		)
Settlements⁽¹⁾	(195,016		)	—		(38,495		)	(61,770		)
Transfers into Level 3	14,098			—		1,728			56,105
Transfers out of Level 3	(28,987		)	—		(65,091		)	(177,938		)
Fair value, end of period	$	1,272,253		$	475,965	$	160,291		$	219,280
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,343	)	$	12,197	$	(158	)	$	734
Investment related gains (losses), net	(817		)	—		(231		)	—



For the year ended December 31, 2016 (continued):	Fixed maturity securities - available-for-sale
	CMBS			U.S. government			State and political subdivisions			Other foreign government
Fair value, beginning of period	$	68,563		$	26,265		$	38,342		$	14,065
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1,677			(487		)	215			—
Investment related gains (losses), net	(876		)	—			—			—
Included in other comprehensive income	(5,887		)	39			962			110
Purchases⁽¹⁾	1,545			508			6,952			—
Sales⁽¹⁾	(41,143		)	—			—			—
Settlements⁽¹⁾	(552		)	(1,837		)	(599		)	(1,306		)
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	(2,182		)	—			(4,206		)	—
Fair value, end of period	$	21,145		$	24,488		$	41,666		$	12,869
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	1,552		$	(487	)	$	215		$	—



For the year ended December 31, 2016 (continued):
	Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity swaps			Interest- sensitive contract liabilities embedded derivatives			Other liabilities - mortality swaps
Fair value, beginning of period	$	—		$	(76,698	)	$	14,996		$	(1,070,584	)	$	(2,619	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment related gains (losses), net	—			54,169			—			7,834			—
Interest credited	—			—			—			10,709			—
Included in other comprehensive income	—			—			(1,133		)	—			—
Other revenues	—			—			13,095			—			(172		)
Purchases⁽¹⁾	3,365			—			—			(12,725		)	—
Settlements⁽¹⁾	(19		)	—			—			74,458			329
Fair value, end of period	$	3,346		$	(22,529	)	$	26,958		$	(990,308	)	$	(2,462	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment related gains (losses), net	$	—		$	54,169		$	—		$	(4,579	)	$	—
Other revenues	—			—			13,095			—			(172		)
Interest credited	—			—			—			(63,748		)	—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value Assets Measured On Nonrecurring Basis [Text Block]

Nonrecurring Fair Value Measurements

The following table presents information for financial instruments measured at an estimated fair value on a nonrecurring basis during the periods presented and still held at the reporting date (for example, when there is evidence of impairment). The estimated fair values for these financial instruments were determined using significant unobservable inputs (Level 3).



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At December 31,				Years ended December 31,
(dollars in thousands)	2018		2017		2018			2017
Limited partnership interests⁽¹⁾	$	4,596	$	4,656	$	(3,200	)	$	(7,204	)
Private equities⁽²⁾	—		106		—			(531		)


(1)	The impaired limited partnership interests presented above were accounted for using the cost method. Impairments on these cost method investments were recognized at estimated fair value determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. The market for these investments has limited activity and price transparency.


(2)	The fair value of the Company’s private equity investments is based on external valuation models.

Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block]

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, as of December 31, 2018 and 2017 (dollars in thousands). This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.



			Estimated Fair		Fair Value Measurement Using:
December 31, 2018:	Carrying Value ⁽¹⁾		Value		Level 1		Level 2		Level 3		NAV
Assets:
Mortgage loans on real estate	$	4,966,298	$	4,917,416	$	—	$	—	$	4,917,416	$	—
Policy loans	1,344,980		1,344,980		—		1,344,980		—		—
Funds withheld at interest	5,655,055		5,802,518		—		—		5,802,518		—
Cash and cash equivalents	1,404,566		1,404,566		1,404,566		—		—		—
Short-term investments	36,607		36,607		36,607		—		—		—
Other invested assets	945,731		941,449		4,640		83,203		477,214		376,392
Accrued investment income	427,893		427,893		—		427,893		—		—
Liabilities:
Interest-sensitive contract liabilities	$	14,547,436	$	14,611,011	$	—	$	—	$	14,611,011	$	—
Long-term debt	2,787,873		2,752,047		—		—		2,752,047		—
Collateral finance and securitization notes	681,961		626,731		—		—		626,731		—

December 31, 2017:
Assets:
Mortgage loans on real estate	$	4,400,533	$	4,477,654	$	—	$	—	$	4,477,654	$	—
Policy loans	1,357,624		1,357,624		—		1,357,624		—		—
Funds withheld at interest	5,955,092		6,275,623		—		—		6,275,623		—
Cash and cash equivalents	946,736		946,736		946,736		—		—		—
Short-term investments	42,558		42,558		42,558		—		—		—
Other invested assets	690,198		718,282		28,540		67,778		286,839		335,125
Accrued investment income	392,721		392,721		—		392,721		—		—
Liabilities:
Interest-sensitive contract liabilities	$	12,683,872	$	12,917,243	$	—	$	—	$	12,917,243	$	—
Long-term debt	2,788,365		2,959,912		—		—		2,959,912		—
Collateral finance and securitization notes	783,938		722,145		—		—		722,145		—


(1)	Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.