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v3.23.2

Fair Values of Financial Instruments (Carrying Amounts and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021
--- | --- | ---
Assets |  |
Fixed maturity securities, available for sale | $ 39,804,617 | $ 51,305,943
Derivative instruments | 431,727 | 1,277,480
Other investments | 1,817,085 | 1,247,024
Coinsurance deposits (net of allowance for credit losses of $8,737 as of 2022 and $2,264 as of 2021) | 13,254,956 | 8,988,891
Market risk benefits | 229,871 | 526,373
Liabilities |  |
Policy benefit reserves | 318,677 | 402,305
Market risk benefits | 2,455,492 | 3,162,162
Other policy funds - FHLB | 300,000 |
Carrying Amount |  |
Assets |  |
Fixed maturity securities, available for sale | 39,804,617 | 51,305,943
Mortgage loans on real estate | 6,949,027 | 5,687,998
Real estate investments | 1,056,063 | 337,939
Limited partnerships and limited liability companies | 684,835 | 168,711
Derivative instruments | 431,727 | 1,277,480
Other investments | 1,817,085 | 1,247,024
Cash and cash equivalents | 1,919,669 | 4,508,982
Coinsurance deposits (net of allowance for credit losses of $8,737 as of 2022 and $2,264 as of 2021) | 13,254,956 | 8,988,891
Market risk benefits | 229,871 | 526,373
Liabilities |  |
Policy benefit reserves | 58,419,911 | 62,169,441
Market risk benefits | 2,455,492 | 3,162,162
Single premium immediate annuity (SPIA) benefit reserves | 212,119 | 226,207
Other policy funds - FHLB | 300,000 | 0
Notes and loan payable | 792,073 | 496,250
Subordinated debentures | 78,753 | 78,421
Fair Value |  |
Assets |  |
Fixed maturity securities, available for sale | 39,804,617 | 51,305,943
Mortgage loans on real estate | 6,502,463 | 5,867,227
Real estate investments | 1,056,063 | 337,939
Limited partnerships and limited liability companies | 684,835 | 168,711
Derivative instruments | 431,727 | 1,277,480
Other investments | 1,817,085 | 1,247,024
Cash and cash equivalents | 1,919,669 | 4,508,982
Coinsurance deposits (net of allowance for credit losses of $8,737 as of 2022 and $2,264 as of 2021) | 12,640,797 | 8,188,338
Market risk benefits | 229,871 | 526,373
Liabilities |  |
Policy benefit reserves | 55,572,896 | 56,375,076
Market risk benefits | 2,455,492 | 3,162,162
Single premium immediate annuity (SPIA) benefit reserves | 221,130 | 235,891
Other policy funds - FHLB | 300,000 | 0
Notes and loan payable | 774,220 | 569,485
Subordinated debentures | $ 87,293 | $ 93,721

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