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Future Policy Benefits (Tables) | 9 Months Ended
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Sep. 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:
|  | Nine months ended |  |  | Year ended |
|  | September 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 |  |  | (354,522 | ) |  |  | (74,233 | )
Effect of actual variances from expected experience |  |  | (307,049 | ) |  |  | (373,646 | )
Adjusted balance, beginning of period |  |  | 13,572,425 |  |  |  | 13,564,674 |
Issuances |  |  | 1,268,255 |  |  |  | 1,884,054 |
Interest accrual at original discount rate |  |  | 472,864 |  |  |  | 608,588 |
Net premiums collected |  |  | (1,328,106 | ) |  |  | (1,733,262 | )
Foreign currency translation |  |  | 32,288 |  |  |  | (90,058 | )
Expected net premiums at original discount rate, end of period |  |  | 14,017,726 |  |  |  | 14,233,996 |
Effect of changes in discount rate assumptions |  |  | 47,455 |  |  |  | (379,202 | )
Expected net premiums at then current discount rate, end of period |  | $ | 14,065,181 |  |  | $ | 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 |  |  | (436,663 | ) |  |  | (83,975 | )
Effect of actual variances from expected experience |  |  | (333,555 | ) |  |  | (386,512 | )
Adjusted balance, beginning of period |  |  | 19,993,682 |  |  |  | 19,921,207 |
Issuances |  |  | 1,272,194 |  |  |  | 1,892,529 |
Interest accrual at original discount rate |  |  | 720,798 |  |  |  | 929,078 |
Benefit payments |  |  | (1,393,709 | ) |  |  | (1,841,162 | )
Foreign currency translation |  |  | 49,605 |  |  |  | (137,752 | )
Expected future policy benefits at original discount rate, end of period |  |  | 20,642,570 |  |  |  | 20,763,900 |
Effect of changes in discount rate assumptions |  |  | 32,085 |  |  |  | (608,413 | )
Expected future policy benefits at then current discount rate, end of period |  | $ | 20,674,655 |  |  | $ | 20,155,487 |
LFPB |  | $ | 6,609,474 |  |  | $ | 6,300,693 |
Less: reinsurance recoverables |  |  | 2,581,440 |  |  |  | 2,729,022 |
Net LFPB, after reinsurance recoverables |  | $ | 4,028,034 |  |  | $ | 3,571,671 |
Weighted-average duration of net LFPB (in years) |  |  | 8.2 |  |  |  | 8.0 |
Schedule of Reconcile LFPB | The following table reconciles the LFPB to the unaudited condensed consolidated balance sheets:
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 6,609,474 |  |  | $ | 6,300,693 |
Other |  |  | 207,304 |  |  |  | 202,371 |
Total |  | $ | 6,816,778 |  |  | $ | 6,503,064 |
Schedule of Reconcile Reinsurance Recoverables | The following table reconciles the reinsurance recoverables to the unaudited condensed consolidated balance sheets:
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 2,581,440 |  |  | $ | 2,729,022 |
Other |  |  | 15,157 |  |  |  | 15,143 |
Total |  | $ | 2,596,597 |  |  | $ | 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:
| September 30, 2025 |  |  | December 31, 2024 |
| (In thousands) |
Term Life Insurance |  |
| Undiscounted |  |  | Discounted |  |  | Undiscounted |  |  | Discounted |
Expected future benefit payments | $ | 33,841,648 |  |  | $ | 20,674,656 |  |  | $ | 33,966,483 |  |  | $ | 20,155,489 |
Expected future gross premiums | $ | 39,267,157 |  |  | $ | 27,188,836 |  |  | $ | 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 September 30, |  |  | Nine months ended September 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
| (In thousands) |
Term Life Insurance |  |  |  |  |
Gross premiums | $ | 864,047 |  |  | $ | 847,626 |  |  | $ | 2,580,396 |  |  | $ | 2,524,615 |
Interest accretion (expense) | $ | (83,320 | ) |  | $ | (80,375 | ) |  | $ | (247,934 | ) |  | $ | (239,220 | )
Schedule of Weighted Average Discount Rates | The weighted-average discount rates were as follows:
| September 30, 2025 |  |  | December 31, 2024 |
Term Life Insurance |  |  |  |  |
Original discount rate |  | 5.02 | % |  |  | 4.95 | %
Current discount rate |  | 5.65 | % |  |  | 5.69 | %

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