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Reinsurance (Tables)

12 Months Ended

Dec. 31, 2018

Reinsurance Disclosures [Abstract]

In-force Life Insurance

The following table represents the Company’s in-force life insurance at December 31, 2018 and 2017:

		December 31, 2018				December 31, 2017
		(Dollars in thousands)
Direct life insurance in force		$	783,979,673			$	767,001,938
Amounts ceded to other companies			(682,708,797	)			(668,446,638	)
Net life insurance in force		$	101,270,876			$	98,555,300
Percentage of reinsured life insurance in force			87	%			87	%

Reinsurance Recoverables and Financial Strength Ratings by Reinsurer

Reinsurance recoverables includes ceded reserve balances and ceded claim liabilities. Reinsurance recoverables and financial strength ratings by reinsurer were as follows:

		December 31, 2018						December 31, 2017
		Reinsurance recoverables				A.M. Best rating		Reinsurance recoverables				A.M. Best rating
		(In thousands)
Pecan Re Inc. (1) (2)		$	2,701,326			NR		$	2,725,795			NR
SCOR Global Life Reinsurance Companies (3)			348,109			A+			354,458			A+
Munich Re of Malta (2) (5)			276,154			NR			302,391			NR
Swiss Re Life & Health America Inc. (4)			234,643			A+			245,543			A+
American Health and Life Insurance Company (2)			170,628			B+			172,956			B
Munich American Reassurance Company			114,604			A+			112,841			A+
Korean Reinsurance Company			104,101			A			102,915			A
RGA Reinsurance Company			90,989			A+			90,037			A+
Hannover Life Reassurance Company			31,729			A+			32,250			A+
TOA Reinsurance Company			25,434			A			24,619			A
All other reinsurers			43,852			-			41,368			-
Reinsurance recoverables		$	4,141,569					$	4,205,173

NR – not rated

⁽¹⁾  Pecan Re Inc. (“Pecan Re”) is a wholly owned subsidiary of Swiss Re Life & Health America Inc. (“Swiss Re”).

^{(2) Entity is an IPO coinsurer. Reinsurance recoverables includes balances ceded under coinsurance transactions of term life insurance policies that were in force as of December 31, 2009. Amounts shown are net of their share of the reinsurance receivable from other reinsurers.}

⁽³⁾ Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies.

^{(4) Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.}

^{(5) Entity is rated AA- by S&P.}

X

- Definition

Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 605
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547

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- References

No definition available.

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X

- Definition

Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 825
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=99380617&loc=SL75241803-196195

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