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Segment and Geographical Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Summary of Assets and Profit or Loss by Segment

Income (loss) before income taxes by segment, including significant expense categories, was as follows:

		Three months ended September 30,								Nine months ended September 30,
		2025				2024				2025				2024
		(In thousands)
Term Life Insurance segment:
Total revenues		$	463,301			$	450,306			$	1,362,975			$	1,317,661
Benefits and expenses:
Benefits and claims			168,319				160,652				488,287				470,766
Future policy benefits remeasurement (gain) loss			(23,392	)			(28,203	)			(32,537	)			(32,802	)
Amortization of DAC			79,876				73,698				235,184				216,105
Insurance expenses			63,058				62,395				189,919				185,849
Insurance commissions			2,755				3,410				7,641				13,242
Total benefits and expenses			290,616				271,952				888,494				853,160
Income before income taxes		$	172,685			$	178,354			$	474,481			$	464,501

		Three months ended September 30,								Nine months ended September 30,
		2025				2024				2025				2024
		(In thousands)
Investment and Savings Products segment:
Total revenues		$	318,788			$	266,073			$	907,898			$	770,695
Expenses:
Amortization of DAC			1,355				1,540				4,060				4,219
Insurance commissions			3,485				3,499				10,229				10,242
Sales commissions:
Sales-based			82,867				66,333				243,069				199,655
Asset-based			87,337				71,012				241,593				201,745
Other operating expenses:
Fees based on client asset values			12,285				10,156				34,604				29,046
Fees based on fee-generating positions			10,341				10,392				33,766				32,300
Other expenses			26,896				23,230				85,662				73,231
Total expenses			224,566				186,162				652,983				550,438
Income before income taxes		$	94,222			$	79,911			$	254,915			$	220,257

		Three months ended September 30,								Nine months ended September 30,
		2025				2024				2025				2024
		(In thousands)
Corporate and Other Distributed Products segment:
Total revenues		$	57,763			$	57,750			$	167,155			$	212,677
Benefits and expenses:
Benefits and claims			3,833				3,711				11,220				9,948
Future policy benefits remeasurement (gain) loss			278				5,184				255				5,508
Amortization of DAC			267				301				847				907
Insurance expenses			1,073				1,134				3,380				3,514
Insurance commissions			(741	)			271				(496	)			729
Sales commissions			4,484				4,909				14,435				14,146
Interest expense			5,985				6,093				17,990				18,964
Other operating expenses			37,812				39,834				121,430				122,984
Total benefits and expenses			52,991				61,437				169,061				176,700
Income (loss) before income taxes		$	4,772			$	(3,687	)		$	(1,906	)		$	35,977

Schedule of Reconciles Segment Revenues to Total Revenues and Segment Income (Loss) Before Income Taxes to Income

The following table reconciles segment revenues to total revenues and segment income (loss) before income taxes to total income from continuing operations before income taxes in the unaudited condensed consolidated statements of income:

		Three months ended September 30,								Nine months ended September 30,
		2025				2024				2025				2024
		(In thousands)
Revenues:
Term Life Insurance segment		$	463,301			$	450,306			$	1,362,975			$	1,317,661
Investment and Savings Products segment			318,788				266,073				907,898				770,695
Corporate and Other Distributed Products segment			57,763				57,750				167,155				212,677
Total revenues		$	839,852			$	774,129			$	2,438,028			$	2,301,033
Income (loss) from continuing operations before income taxes:
Term Life Insurance segment		$	172,685			$	178,354			$	474,481			$	464,501
Investment and Savings Products segment			94,222				79,911				254,915				220,257
Corporate and Other Distributed Products segment			4,772				(3,687	)			(1,906	)			35,977
Total income from continuing operations before income taxes		$	271,679			$	254,578			$	727,490			$	720,735

X

- Definition

Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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