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Future Policy Benefits (Tables) | 6 Months Ended
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Jun. 30, 2025
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] |
Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB | The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB:
|  | Six months ended |  |  | Year ended |
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (Dollars in thousands) |
Present Value of Expected Net Premiums |  | Term Life Insurance |
Balance at then current discount rate, beginning of period |  | $ | 13,854,794 |  |  | $ | 13,977,353 |
Balance at original discount rate, beginning of period |  |  | 14,233,996 |  |  |  | 14,012,553 |
Effect of changes in cash flow assumptions |  |  | - |  |  |  | (74,233 | )
Effect of actual variances from expected experience |  |  | (221,771 | ) |  |  | (373,646 | )
Adjusted balance, beginning of period |  |  | 14,012,225 |  |  |  | 13,564,674 |
Issuances |  |  | 931,555 |  |  |  | 1,884,054 |
Interest accrual at original discount rate |  |  | 314,588 |  |  |  | 608,588 |
Net premiums collected |  |  | (882,397 | ) |  |  | (1,733,262 | )
Foreign currency translation |  |  | 56,193 |  |  |  | (90,058 | )
Expected net premiums at original discount rate, end of period |  |  | 14,432,164 |  |  |  | 14,233,996 |
Effect of changes in discount rate assumptions |  |  | (129,596 | ) |  |  | (379,202 | )
Expected net premiums at then current discount rate, end of period |  | $ | 14,302,568 |  |  | $ | 13,854,794 |
Present Value of Expected Future Policy Benefits |  |  |  |  |  |
Balance at then current discount rate, beginning of period |  | $ | 20,155,487 |  |  | $ | 20,508,435 |
Balance at original discount rate, beginning of period |  |  | 20,763,900 |  |  |  | 20,391,694 |
Effect of changes in cash flow assumptions |  |  | - |  |  |  | (83,975 | )
Effect of actual variances from expected experience |  |  | (231,573 | ) |  |  | (386,512 | )
Adjusted balance, beginning of period |  |  | 20,532,327 |  |  |  | 19,921,207 |
Issuances |  |  | 937,242 |  |  |  | 1,892,529 |
Interest accrual at original discount rate |  |  | 479,202 |  |  |  | 929,078 |
Benefit payments |  |  | (948,856 | ) |  |  | (1,841,162 | )
Foreign currency translation |  |  | 85,479 |  |  |  | (137,752 | )
Expected future policy benefits at original discount rate, end of period |  |  | 21,085,394 |  |  |  | 20,763,900 |
Effect of changes in discount rate assumptions |  |  | (266,692 | ) |  |  | (608,413 | )
Expected future policy benefits at then current discount rate, end of period |  | $ | 20,818,702 |  |  | $ | 20,155,487 |
LFPB |  | $ | 6,516,134 |  |  | $ | 6,300,693 |
Less: reinsurance recoverables |  |  | 2,683,481 |  |  |  | 2,729,022 |
Net LFPB, after reinsurance recoverables |  | $ | 3,832,653 |  |  | $ | 3,571,671 |
Weighted-average duration of net LFPB (in years) |  |  | 8.1 |  |  |  | 8.0 |
Schedule of Reconcile LFPB | The following table reconciles the LFPB to the unaudited condensed consolidated balance sheets:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 6,516,134 |  |  | $ | 6,300,693 |
Other |  |  | 202,910 |  |  |  | 202,371 |
Total |  | $ | 6,719,044 |  |  | $ | 6,503,064 |
Schedule of Reconcile Reinsurance Recoverables | The following table reconciles the reinsurance recoverables to the unaudited condensed consolidated balance sheets:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 2,683,481 |  |  | $ | 2,729,022 |
Other |  |  | 14,663 |  |  |  | 15,143 |
Total |  | $ | 2,698,144 |  |  | $ | 2,744,165 |
Schedule of Amount of Discounted (using the then current discount rate) and Undiscounted Expected Gross Premiums and Expected Future Benefit Payments | The amount of discounted (using the then current discount rate) and undiscounted expected gross premiums and expected future benefit payments were as follows:
| June 30, 2025 |  |  | December 31, 2024 |
| (In thousands) |
Term Life Insurance |  |
| Undiscounted |  |  | Discounted |  |  | Undiscounted |  |  | Discounted |
Expected future benefit payments | $ | 34,624,556 |  |  | $ | 20,818,702 |  |  | $ | 33,966,483 |  |  | $ | 20,155,489 |
Expected future gross premiums | $ | 40,073,448 |  |  | $ | 27,260,908 |  |  | $ | 39,389,917 |  |  | $ | 26,414,010 |
Schedule of Amount of Revenue and Interest Recognized | The amount of revenue and interest recognized in our unaudited condensed consolidated statements of income were as follows:
| Three months ended June 30, |  |  | Six months ended June 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
| (In thousands) |
Term Life Insurance |  |  |  |  |
Gross premiums | $ | 861,919 |  |  | $ | 840,668 |  |  | $ | 1,716,350 |  |  | $ | 1,676,989 |
Interest accretion (expense) | $ | (82,616 | ) |  | $ | (81,252 | ) |  | $ | (164,614 | ) |  | $ | (158,845 | )
Schedule of Weighted Average Discount Rates | The weighted-average discount rates were as follows:
| June 30, 2025 |  |  | December 31, 2024 |
Term Life Insurance |  |  |  |  |
Original discount rate |  | 4.99 | % |  |  | 4.95 | %
Current discount rate |  | 5.78 | % |  |  | 5.69 | %

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