2020 Q4 Form 10-K Financial Statement

#000103982821000018 Filed on March 01, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $1.030B $1.114B $643.4M
YoY Change -7.55% -346.98% -46.1%
Cost Of Revenue $7.627M
YoY Change -28.86%
Gross Profit $635.8M
YoY Change -46.26%
Gross Profit Margin 98.81%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.50M $134.8M -$120.9M
YoY Change -79.6% -1828.21% -249.2%
% of Gross Profit -19.02%
Operating Expenses $443.2M $675.1M $369.8M
YoY Change -34.35% 144.25% -37.53%
Operating Profit $266.0M
YoY Change -55.0%
Interest Expense -$576.6M -$157.9M -$222.6M
YoY Change 265.17% -119.9% -43.5%
% of Operating Profit -83.69%
Other Income/Expense, Net
YoY Change
Pretax Income $9.900M $280.8M $51.01M
YoY Change -96.47% 324.17% -75.44%
Income Tax $1.200M $60.70M $13.65M
% Of Pretax Income 12.12% 21.62% 26.75%
Net Earnings $8.700M $220.2M $37.36M
YoY Change -96.05% 309.03% -77.94%
Net Earnings / Revenue 0.84% 19.77% 5.81%
Basic Earnings Per Share -$0.07 $2.41 $0.41
Diluted Earnings Per Share -$0.07 $2.40 $0.41
COMMON SHARES
Basic Shares Outstanding 92.02M shares 91.05M shares 91.25M shares
Diluted Shares Outstanding 91.71M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $9.096B $2.293B $1.139B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $52.29B $55.52B $55.76B
YoY Change -5.81% 12.8% 13.04%
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $71.69B $69.70B $68.33B
YoY Change 2.86% 13.1% 7.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $574.0M $652.0M $738.0M
YoY Change -11.96% -11.65% 0.14%
Other Long-Term Liabilities $1.668B $2.146B $1.665B
YoY Change -22.27% 326.64% -9.61%
Total Long-Term Liabilities $2.242B $2.798B $2.403B
YoY Change -19.87% 125.46% -6.82%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $2.242B $2.798B $2.403B
Total Liabilities $65.34B $65.13B $64.20B
YoY Change 0.33% 9.96% 5.32%
SHAREHOLDERS EQUITY
Retained Earnings $2.369B $1.769B $1.576B
YoY Change 33.91% 14.12% 3.58%
Common Stock $95.72M $91.11M $91.01M
YoY Change 5.06% 0.82% 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 6.517M shares 1.344M shares 1.394M shares
Shareholders Equity $6.349B $4.427B $4.127B
YoY Change
Total Liabilities & Shareholders Equity $71.69B $69.70B $68.33B
YoY Change 2.86% 13.1% 7.69%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $8.700M $220.2M $37.36M
YoY Change -96.05% 309.03% -77.94%
Depreciation, Depletion And Amortization $27.50M $134.8M -$120.9M
YoY Change -79.6% -1828.21% -249.2%
Cash From Operating Activities $949.8M $1.063B $417.1M
YoY Change -10.66% -295.78% -42.85%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$900.0K -$1.700M
YoY Change -11.11% 12.5% 142.86%
Acquisitions
YoY Change
Other Investing Activities $4.507B -$148.6M -$952.5M
YoY Change -3132.71% -67.63% -23.82%
Cash From Investing Activities $4.506B -$149.5M -$954.2M
YoY Change -3113.98% -67.49% -23.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 983.2M 241.0M 460.0M
YoY Change 307.97% 10.55% 17.71%
NET CHANGE
Cash From Operating Activities 949.8M 1.063B 417.1M
Cash From Investing Activities 4.506B -149.5M -954.2M
Cash From Financing Activities 983.2M 241.0M 460.0M
Net Change In Cash 6.439B 1.155B -77.10M
YoY Change 457.67% -247.12% -40.92%
FREE CASH FLOW
Cash From Operating Activities $949.8M $1.063B $417.1M
Capital Expenditures -$800.0K -$900.0K -$1.700M
Free Cash Flow $950.6M $1.064B $418.8M
YoY Change -10.66% -296.24% -42.67%

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CY2019 ael Fixed Index Annuities
FixedIndexAnnuities
4603490000 USD
CY2018 ael Fixed Index Annuities
FixedIndexAnnuities
3898366000 USD
CY2020 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
7846000 USD
CY2019 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
10665000 USD
CY2018 ael Fixed Rate Annuities Annual Reset
FixedRateAnnuitiesAnnualReset
46744000 USD
CY2020 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
1295843000 USD
CY2019 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
47016000 USD
CY2018 ael Fixed Rate Annuities Multi Year
FixedRateAnnuitiesMultiYear
22818000 USD
CY2020 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
33461000 USD
CY2019 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
12002000 USD
CY2018 ael Single Premium Immediate Annuities Spias
SinglePremiumImmediateAnnuitiesSpias
23813000 USD
CY2020 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
3646730000 USD
CY2019 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
4673173000 USD
CY2018 ael Premiums And Annuity Deposits
PremiumsAndAnnuityDeposits
3991741000 USD
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimates and Assumptions</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are utilized in the calculation of deferred policy acquisition costs, deferred sales inducements, policy benefit reserves, including the liability for lifetime income benefit riders and the fair value of embedded derivatives in fixed index annuity contracts, valuation of derivatives, valuation of investments, allowances for credit losses on available-for-sale fixed maturity securities, allowances for loan losses on mortgage loans and valuation allowances on deferred tax assets. A description of each critical estimate is incorporated within the discussion of the related accounting policies which follow. It is reasonably possible that actual experience could differ from the estimates and assumptions utilized.</span></div>
CY2020Q4 us-gaap Securities Loaned Asset
SecuritiesLoanedAsset
100000 USD
CY2019Q4 us-gaap Securities Loaned Asset
SecuritiesLoanedAsset
477500000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
CY2019Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0 USD
CY2019Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2020Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2020Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0 USD
CY2019Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2019Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0 USD
CY2020Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
CY2020Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0210
CY2019Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0290
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9624395000 USD
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
8165405000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchasesSalesIssuancesSettlements
235971000 USD
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchasesSalesIssuancesSettlements
896688000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-1922085000 USD
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
562302000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7938281000 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9624395000 USD
CY2020Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0210
CY2019Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0290
CY2019 ael Experience Study Productswith Lifetime Income Benefit Riders Period
ExperienceStudyProductswithLifetimeIncomeBenefitRidersPeriod
P10Y
CY2018Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0310
CY2019Q4 ael Expected Costof Annual Call Options
ExpectedCostofAnnualCallOptions
0.0290
CY2019 ael Mean Reversion Period
MeanReversionPeriod
P20Y
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
42304736000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5549754000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
250826000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
64771000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47538893000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
48238946000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3633599000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
292055000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51580490000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
496563000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
505387000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
7229621000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
7718178000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
8167106000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
9166066000 USD
CY2020Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Ten Yearsthrough Twenty Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTenYearsthroughTwentyYearsAmortizedCost
9254579000 USD
CY2020Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Ten Years Through Twenty Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTenYearsThroughTwentyYearsFairValue
11396733000 USD
CY2020Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Twenty Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTwentyYearsAmortizedCost
6044092000 USD
CY2020Q4 ael Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter Twenty Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterTwentyYearsFairValue
7428622000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
31191961000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
36214986000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
42304736000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47538893000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
5297040000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
3341544000 USD
CY2020Q4 ael Other Comprehensive Income Loss Adjustmentsfor Assumed Changesin Amortizationof Deferred Policy Acquisition Costsand Deferred Sales Inducements
OtherComprehensiveIncomeLossAdjustmentsforAssumedChangesinAmortizationofDeferredPolicyAcquisitionCostsandDeferredSalesInducements
2250520000 USD
CY2019Q4 ael Other Comprehensive Income Loss Adjustmentsfor Assumed Changesin Amortizationof Deferred Policy Acquisition Costsand Deferred Sales Inducements
OtherComprehensiveIncomeLossAdjustmentsforAssumedChangesinAmortizationofDeferredPolicyAcquisitionCostsandDeferredSalesInducements
1473966000 USD
CY2020Q4 ael Other Comprehensive Income Valuation Allowance Deferred Tax Asset Reversal
OtherComprehensiveIncomeValuationAllowanceDeferredTaxAssetReversal
22534000 USD
CY2019Q4 ael Other Comprehensive Income Valuation Allowance Deferred Tax Asset Reversal
OtherComprehensiveIncomeValuationAllowanceDeferredTaxAssetReversal
22534000 USD
CY2020Q4 ael Accumulated Other Comprehensive Income Loss Availableforsale Securities Deferred Income Tax Expense Benefit
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesDeferredIncomeTaxExpenseBenefit
639769000 USD
CY2019Q4 ael Accumulated Other Comprehensive Income Loss Availableforsale Securities Deferred Income Tax Expense Benefit
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesDeferredIncomeTaxExpenseBenefit
392191000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
2429285000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1497921000 USD
CY2020Q4 ael Percentage Of Investment Grade Fixed Maturity Securities At Fair Value
PercentageOfInvestmentGradeFixedMaturitySecuritiesAtFairValue
0.97
CY2019Q4 ael Percentage Of Investment Grade Fixed Maturity Securities At Fair Value
PercentageOfInvestmentGradeFixedMaturitySecuritiesAtFairValue
0.98
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
42304736000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47538893000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
48238946000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51580490000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
843 Securities
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1033 Securities
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
2992944000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
122908000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2771976000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
192689000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
5764920000 USD
CY2020Q4 ael Fixed Maturity Securities Unrealized Loss Position Classified As Investment Grade
FixedMaturitySecuritiesUnrealizedLossPositionClassifiedAsInvestmentGrade
0.75
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
315597000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
3259219000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
59699000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
4448519000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
232356000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
7707738000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
292055000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
64800000 USD
CY2019Q4 ael Fixed Maturity Securities Unrealized Loss Position Classified As Investment Grade
FixedMaturitySecuritiesUnrealizedLossPositionClassifiedAsInvestmentGrade
0.79
CY2020 ael Change In Net Unrealized Gain Or Loss Fixed Maturity Securities Held For Investment
ChangeInNetUnrealizedGainOrLossFixedMaturitySecuritiesHeldForInvestment
0 USD
CY2019 ael Change In Net Unrealized Gain Or Loss Fixed Maturity Securities Held For Investment
ChangeInNetUnrealizedGainOrLossFixedMaturitySecuritiesHeldForInvestment
0 USD
CY2018 ael Change In Net Unrealized Gain Or Loss Fixed Maturity Securities Held For Investment
ChangeInNetUnrealizedGainOrLossFixedMaturitySecuritiesHeldForInvestment
581000 USD
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1955496000 USD
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
3549007000 USD
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-2463693000 USD
CY2020 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs And Deferred Sales Inducements
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsAndDeferredSalesInducements
-776554000 USD
CY2019 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs And Deferred Sales Inducements
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsAndDeferredSalesInducements
-1586537000 USD
CY2018 ael Adjustments For Assumed Changes In Amortization Of Deferred Policy Acquisition Costs And Deferred Sales Inducements
AdjustmentsForAssumedChangesInAmortizationOfDeferredPolicyAcquisitionCostsAndDeferredSalesInducements
1318649000 USD
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
247578000 USD
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
412117000 USD
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-240459000 USD
CY2020 ael Changes Net Unrealized Gains Or Losses For Adjustments In Deferred Policy Acquisition Costs Deferred Sales Inducements Deferred Tax Valuation Allowances And Deferred Income Taxes
ChangesNetUnrealizedGainsOrLossesForAdjustmentsInDeferredPolicyAcquisitionCostsDeferredSalesInducementsDeferredTaxValuationAllowancesAndDeferredIncomeTaxes
-1024132000 USD
CY2019 ael Changes Net Unrealized Gains Or Losses For Adjustments In Deferred Policy Acquisition Costs Deferred Sales Inducements Deferred Tax Valuation Allowances And Deferred Income Taxes
ChangesNetUnrealizedGainsOrLossesForAdjustmentsInDeferredPolicyAcquisitionCostsDeferredSalesInducementsDeferredTaxValuationAllowancesAndDeferredIncomeTaxes
-1998654000 USD
CY2018 ael Changes Net Unrealized Gains Or Losses For Adjustments In Deferred Policy Acquisition Costs Deferred Sales Inducements Deferred Tax Valuation Allowances And Deferred Income Taxes
ChangesNetUnrealizedGainsOrLossesForAdjustmentsInDeferredPolicyAcquisitionCostsDeferredSalesInducementsDeferredTaxValuationAllowancesAndDeferredIncomeTaxes
1559108000 USD
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
931364000 USD
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1550353000 USD
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-904585000 USD
CY2020 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2214550000 USD
CY2019 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2329478000 USD
CY2018 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2167461000 USD
CY2020 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
32472000 USD
CY2019 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
21843000 USD
CY2018 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
19649000 USD
CY2020 us-gaap Net Investment Income
NetInvestmentIncome
2182078000 USD
CY2019 us-gaap Net Investment Income
NetInvestmentIncome
2307635000 USD
CY2018 us-gaap Net Investment Income
NetInvestmentIncome
2147812000 USD
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
5400000000 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1000000000.0 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2500000000 USD
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2900000000 USD
CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2300000000 USD
CY2018 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1400000000 USD
CY2020 us-gaap Gain Loss On Investments
GainLossOnInvestments
-80680000 USD
CY2019 us-gaap Gain Loss On Investments
GainLossOnInvestments
6962000 USD
CY2018 us-gaap Gain Loss On Investments
GainLossOnInvestments
-37178000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 USD
CY2020 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
94560000 USD
CY2020 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
-22436000 USD
CY2020 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
-7353000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
64771000 USD
CY2018Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
175398000 USD
CY2019 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
18271000 USD
CY2019 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
455000 USD
CY2019 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
24422000 USD
CY2019Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
169702000 USD
CY2019Q4 ael Securitieswith Noncredit Other Than Temporary Impairment Amortized Cost
SecuritieswithNoncreditOtherThanTemporaryImpairmentAmortizedCost
248456000 USD
CY2019Q4 ael Other Than Temporary Impairment Losses Investments Cummulative Portion Of Recognized In Comprehensive Income
OtherThanTemporaryImpairmentLossesInvestmentsCummulativePortionOfRecognizedInComprehensiveIncome
-149146000 USD
CY2019Q4 ael Securitieswith Noncredit Other Than Temporary Impairment Losses Changein Fair Value
SecuritieswithNoncreditOtherThanTemporaryImpairmentLossesChangeinFairValue
181705000 USD
CY2019Q4 ael Securitieswith Noncredit Other Than Temporary Impairments Fair Value
SecuritieswithNoncreditOtherThanTemporaryImpairmentsFairValue
281015000 USD
CY2020Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
53500000000 USD
CY2019Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
51600000000 USD
CY2019Q4 us-gaap Fair Value Concentration Of Risk Investments
FairValueConcentrationOfRiskInvestments
0 USD
CY2020Q4 us-gaap Fair Value Concentration Of Risk Investments
FairValueConcentrationOfRiskInvestments
0 USD
CY2020Q4 ael Financing Receivable Numberof Portfolio Segments
FinancingReceivableNumberofPortfolioSegments
3 portfolio_segment
CY2020Q4 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
75300000 USD
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4165489000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
3448793000 USD
CY2020 ael Financing Receivable Allowance For Credit Loss Economic Factors Forecast Period
FinancingReceivableAllowanceForCreditLossEconomicFactorsForecastPeriod
P2Y
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
17779000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1485000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
712000 USD
CY2020 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
15447000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
31029000 USD
CY2020Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
0 USD
CY2019Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
0 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
0 USD
CY2020Q4 ael Financing Receivable Nonaccrual Number Of Loans
FinancingReceivableNonaccrualNumberOfLoans
1 loans
CY2020 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 USD
CY2019Q4 ael Financing Receivable Nonaccrual Number Of Loans
FinancingReceivableNonaccrualNumberOfLoans
0 loans
CY2019 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 USD
CY2018 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 USD
CY2020 ael Financing Receivable Modifications Periodof Timeof Delaying Principal And Or Interest
FinancingReceivableModificationsPeriodofTimeofDelayingPrincipalAndOrInterest
P3M
CY2019 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0 loans
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0 loans
CY2020 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
34666000 USD
CY2019 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
906906000 USD
CY2018 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-777848000 USD
CY2020 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
1286787000 USD
CY2019 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-1454042000 USD
CY2018 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
1389491000 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
1300000000 USD
CY2019Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
1300000000 USD
CY2020 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
35100000 USD
CY2019 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
25200000 USD
CY2020 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
Deferred Policy Acquisition Costs, Deferred Sales Inducements and Liability for Lifetime Income Benefit Riders<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Policy acquisition costs deferred and amortized are as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2018</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,923,454 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,535,838 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,714,523 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs deferred during the year:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commissions</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251,429 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">419,165 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">384,432 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Policy issue costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,351 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,790 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,769)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(280,699)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(358,563)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646,785)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192,982 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,572 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effect of net unrealized gains/losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(483,242)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(947,183)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">761,084 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,045,812 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,923,454 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,535,838 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales inducements deferred and amortized are as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2018</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,966,723 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,516,721 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,001,892 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs deferred during the year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93,610 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,941 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">179,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,063)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(193,292)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(243,666)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(428,101)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104,707 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,465 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effect of net unrealized gains/losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(293,312)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(639,354)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">557,565 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,328,857 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,966,723 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,516,721 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table presents a rollforward of the liability for lifetime income benefit riders (net of coinsurance ceded):</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.561%"><tr><td style="width:1.0%"/><td style="width:56.462%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.556%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.558%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2018</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Dollars in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,303,451 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">808,167 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">704,441 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefit expense accrual</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">311,211 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">179,901 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">157,333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of unlocking</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285,825 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315,383 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(53,607)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Claim payments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance at end of year</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,900,487 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,303,451 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">808,167 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We periodically update the key assumptions used in the calculation of amortization of deferred policy acquisition costs and deferred sales inducements retrospectively through an unlocking process when estimates of current or future gross profits/margins (including the impact of realized investment gains and losses) to be realized from a group of products are revised. In addition, we periodically update the assumptions used in determining the liability for lifetime income benefit riders. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We review these assumptions quarterly and as a result of these reviews, we made updates to assumptions in 2020, 2019 and 2018. In addition, we implemented an enhanced actuarial valuation system during 2019, and as a result, our 2019 assumption updates include model refinements resulting from the implementation.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant assumption updates made in 2020 were to investment spread assumptions, including the net investment earned rate and crediting rates on policies, as well as updates to lapse rate and partial withdrawal assumptions.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due to the current economic and low interest rate environments, we updated our assumption for aggregate investment spread to 2.40% in the near-term increasing to 2.60% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjFhOWEzMGM0NTEzZjRhYzdhZjZmYWI3NDA2OTJmZWY2L3NlYzoxYTlhMzBjNDUxM2Y0YWM3YWY2ZmFiNzQwNjkyZmVmNl8xNDUvZnJhZzo1NDg2ZTgyZjI0N2Q0Mjc2ODQyOTA3MWRmODk1NzBkNi90ZXh0cmVnaW9uOjU0ODZlODJmMjQ3ZDQyNzY4NDI5MDcxZGY4OTU3MGQ2XzI3NDg3NzkwOTM5MDI_7dbe4a09-f31c-4fce-8d1b-7b9897972b94">eight</span>-year reversion period and our assumption for crediting/discount rate to 1.60% increasing to 2.10% over an <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjFhOWEzMGM0NTEzZjRhYzdhZjZmYWI3NDA2OTJmZWY2L3NlYzoxYTlhMzBjNDUxM2Y0YWM3YWY2ZmFiNzQwNjkyZmVmNl8xNDUvZnJhZzo1NDg2ZTgyZjI0N2Q0Mjc2ODQyOTA3MWRmODk1NzBkNi90ZXh0cmVnaW9uOjU0ODZlODJmMjQ3ZDQyNzY4NDI5MDcxZGY4OTU3MGQ2XzI3NDg3NzkwOTM5MTI_fd407426-9c6b-447d-a7bf-d5e6749f791d">eight</span>-year reversion period. Prior to these assumption updates, our long-term assumption for aggregate investment spread was steady at 2.60%, with a near term crediting/discount rate of 1.90% increasing to 2.90% over a 20 year reversion period. The assumption update to decrease aggregate investment spread resulted in lower expected future gross profits as compared to previous estimates and a decrease in the balances of deferred policy acquisition costs and deferred sales inducements. The decrease in the crediting rate, which is used as the discount rate in the calculation of the liability for lifetime income benefit riders, resulted in an increase in the liability for lifetime income benefit riders. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We updated lapse rate and partial withdrawal assumptions based on actual historical experience. For certain annuity products without a lifetime income benefit rider, lapse rate and partial withdrawal assumptions were increased while for certain annuity products with a lifetime income benefit rider, lapse rate and partial withdrawal assumptions were decreased. The net impact of the updates to lapse rate and partial withdrawal assumptions resulted in lower expected future gross profits as compared to previous estimates and a decrease in the balances of deferred policy acquisition costs and deferred sales inducements. The net impact of the updates to lapse rate and partial withdrawal assumptions resulted in an increase in the liability for lifetime income benefit riders due to a greater amount of expected benefit payments in excess of account values.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant assumption updates made during 2019 were to lapse and utilization assumptions. We had credible lapse and utilization data based upon a comprehensive experience study spanning over 10 years on our products with lifetime income benefit riders and have experienced lapse rates that are lower than previously estimated. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Lower lapse assumptions resulted in an expectation that more policyholders will turn on their lifetime income benefit than previously anticipated which results in a greater amount of benefit payments in excess of account value and the need for a greater liability for lifetime income benefit riders. The decrease in lapse rate assumptions also resulted in policies being in force for a longer period of time and an </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">increase in expected gross profits as compared to previous estimates. The higher level of expected future gross profits resulted in an increase in the balances of deferred policy acquisition costs and deferred sales inducements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our historical experience also indicated that the ultimate utilization of certain lifetime income benefit riders was expected to be less than our prior assumptions and the timing of utilization of lifetime income benefit riders is later than in our prior assumptions. We reduced our ultimate utilization assumptions for fee riders from 75% to 60% and for no-fee riders from 37.5% to 30%, for policies issued in 2014 and prior years. The net effect of the utilization assumption revisions resulted in a decrease in the liability for lifetime income benefit riders and partially offset the increase in the reserve for lifetime income benefit riders from the change in lapse assumptions.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In addition, we updated our assumptions regarding future crediting/discount rates. We assumed a 3.80% U.S. Treasury rate with a 20 year mean revision period. Our assumption for aggregate investment spread was 2.60% which translated to an ultimate discount rate of 2.90%. While the aggregate spread of 2.60% did not change from prior estimates, our estimates of the profitability of individual cohorts changed with the use of an aggregate portfolio yield across all cohorts. This assumption update resulted in a change in the allocation of profitability by cohort, which caused a reduction in the deferred policy acquisition costs and deferred sales inducements assets and partially offset the increase in the deferred policy acquisition costs and deferred sales inducements assets from the change in lapse assumptions. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The most significant updates made during 2018 as a result of our quarterly reviews were account balance true-ups which were favorable to us due to stronger index credits than we assumed due to strong equity market performance and adjustments to generally decrease lapse rate assumptions to reflect better persistency experienced than assumed. The favorable impact of the account balance true-ups and lapse rate assumption changes was partially offset by updates to lower our future investment spread assumptions primarily due to an increase in the cost of money we had been experiencing. </span></div>The 2018 updates to the liability for lifetime income benefit riders were consistent with the updates used in the calculation of amortization of deferred policy acquisition costs and deferred sales inducements described above. The 2018 updates were primarily attributable to account balance true-ups and future investment spread assumptions. The impact of the account balance true-ups and future investment spread changes was partially offset by the lapse rate assumptions changes described above.
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CY2018Q4 us-gaap Deferred Policy Acquisition Costs
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CY2019Q4 ael Deferred Tax Liabilities Amounts Due Reinsurer
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
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1998544000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
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564003000 USD
CY2019Q4 us-gaap Deferred Tax Liabilities
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177897000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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0 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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0 USD
CY2020Q4 us-gaap Operating Loss Carryforwards
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CY2019Q4 us-gaap Notes Payable
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14300000 USD
CY2019 ael Repurchase Agreement Average Borrowings
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33000000.0 USD
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19500 USD
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19000 USD
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18500 USD
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2400000 USD
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1800000 USD
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1700000 USD
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2908000 USD
CY2019 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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2547000 USD
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10040000 USD
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CY2018 us-gaap Allocated Share Based Compensation Expense
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1
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P2Y
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16.20
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CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
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40850 shares
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18.87
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771000 USD
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17.41
CY2018Q4 ael Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Total Exercise Price
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0 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
CY2019 ael Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Total Exercise Price
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22600 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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18.14
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4357000 USD
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19.91
CY2019Q4 ael Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Total Exercise Price
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16506000 USD
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2020 ael Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Total Exercise Price
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21778000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
31200 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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21.50
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670000 USD
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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16.98
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6038000 USD
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1257917 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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25.10
CY2020Q4 ael Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Total Exercise Price
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31576000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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3200000 USD
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2400000 USD
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6000000.0 USD
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4400000 USD
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10000000.0 USD
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CY2019 us-gaap Statutory Accounting Practices Statutory Net Income Amount
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143309000 USD
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210049000 USD
CY2020Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
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3728732000 USD
CY2019Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
3490196000 USD
CY2020 us-gaap Statutory Accounting Practices Permitted Practice Amount
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366300000 USD
CY2019 us-gaap Statutory Accounting Practices Permitted Practice Amount
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411700000 USD
CY2020Q4 ael Statutory Accounting Practices Statutory Capital And Surplus Total Ajdusted Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusTotalAjdustedBalance
3978901000 USD
CY2019Q4 ael Statutory Accounting Practices Statutory Capital And Surplus Total Ajdusted Balance
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3824457000 USD
CY2020Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Required
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1069434000 USD
CY2019Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Required
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRequired
1028662000 USD
CY2020Q4 us-gaap Capital To Risk Weighted Assets
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3.72
CY2019Q4 us-gaap Capital To Risk Weighted Assets
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3.72
CY2020Q4 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments Without Regulatory Approval
StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithoutRegulatoryApproval
372900000 USD
CY2018 ael Statutory Accounting Practices Dividends Paid By Insurance Subsidiaries
StatutoryAccountingPracticesDividendsPaidByInsuranceSubsidiaries
0 USD
CY2020 ael Statutory Accounting Practices Dividends Paid By Insurance Subsidiaries
StatutoryAccountingPracticesDividendsPaidByInsuranceSubsidiaries
0 USD
CY2019 ael Statutory Accounting Practices Dividends Paid By Insurance Subsidiaries
StatutoryAccountingPracticesDividendsPaidByInsuranceSubsidiaries
0 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
4200000 USD
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
3300000 USD
CY2018 us-gaap Operating Lease Expense
OperatingLeaseExpense
3200000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11200000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2354000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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2085000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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1866000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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1832000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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1711000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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1397000 USD
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637945000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
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246090000 USD
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458016000 USD
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92055035 shares
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5.01
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91139453 shares
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90347915 shares
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92392496 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91782242 shares
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91422585 shares
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6.93
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EarningsPerShareBasic
2.70
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5.07
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6.90
CY2019 us-gaap Earnings Per Share Diluted
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2.68
CY2020Q4 ael Third Party Equity Investment Number Of Stages
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2 numberOfStages
CY2020Q4 ael Number Of Board Of Directors Seats Third Party Received Following Initial Equity Investment
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1 boardOfDirectorsSeats
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
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500000000 USD
CY2020Q4 us-gaap Treasury Stock Common Shares
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6516525 shares
CY2020Q4 us-gaap Treasury Stock Carrying Basis
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151600000 USD
CY2019Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
1344193 shares
CY2019Q4 us-gaap Treasury Stock Carrying Basis
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11900000 USD
CY2020Q1 ael Policy Charges Insurance And Premiums Earned Net
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67213000 USD
CY2020Q2 ael Policy Charges Insurance And Premiums Earned Net
PolicyChargesInsuranceAndPremiumsEarnedNet
74470000 USD
CY2020Q3 ael Policy Charges Insurance And Premiums Earned Net
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72684000 USD
CY2020Q4 ael Policy Charges Insurance And Premiums Earned Net
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76242000 USD
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573318000 USD
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543704000 USD
CY2020Q3 us-gaap Net Investment Income
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543331000 USD
CY2020Q4 us-gaap Net Investment Income
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521725000 USD
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
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CY2020Q2 us-gaap Derivative Gain Loss On Derivative Net
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327662000 USD
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
205011000 USD
CY2020Q4 us-gaap Derivative Gain Loss On Derivative Net
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443867000 USD
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CY2020Q2 us-gaap Gain Loss On Investments
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CY2020Q3 us-gaap Gain Loss On Investments
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CY2020Q4 us-gaap Gain Loss On Investments
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CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
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CY2020Q2 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q1 us-gaap Revenues
Revenues
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CY2020Q2 us-gaap Revenues
Revenues
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CY2020Q3 us-gaap Revenues
Revenues
798705000 USD
CY2020Q4 us-gaap Revenues
Revenues
1029699000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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236336000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-253379000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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661250000 USD
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.58
CY2020Q2 us-gaap Earnings Per Share Basic
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CY2020Q3 us-gaap Earnings Per Share Basic
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7.20
CY2020Q4 us-gaap Earnings Per Share Basic
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-0.07
CY2020Q1 us-gaap Earnings Per Share Diluted
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2.57
CY2020Q2 us-gaap Earnings Per Share Diluted
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CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.17
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2019Q1 ael Policy Charges Insurance And Premiums Earned Net
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58376000 USD
CY2019Q2 ael Policy Charges Insurance And Premiums Earned Net
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64826000 USD
CY2019Q3 ael Policy Charges Insurance And Premiums Earned Net
PolicyChargesInsuranceAndPremiumsEarnedNet
68799000 USD
CY2019Q4 ael Policy Charges Insurance And Premiums Earned Net
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71568000 USD
CY2019Q1 us-gaap Net Investment Income
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558438000 USD
CY2019Q2 us-gaap Net Investment Income
NetInvestmentIncome
570568000 USD
CY2019Q3 us-gaap Net Investment Income
NetInvestmentIncome
590412000 USD
CY2019Q4 us-gaap Net Investment Income
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588217000 USD
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384469000 USD
CY2019Q2 us-gaap Derivative Gain Loss On Derivative Net
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76045000 USD
CY2019Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
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0 USD
CY2019Q3 us-gaap Derivative Gain Loss On Derivative Net
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CY2019Q4 us-gaap Derivative Gain Loss On Derivative Net
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466434000 USD
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-563000 USD
CY2019Q2 us-gaap Gain Loss On Investments
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CY2019Q3 us-gaap Gain Loss On Investments
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4328000 USD
CY2019Q4 us-gaap Gain Loss On Investments
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7029000 USD
CY2019Q2 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
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1213000 USD
CY2019Q3 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
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101000 USD
CY2019Q4 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
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17412000 USD
CY2019Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2019Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2019Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2019Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2001000 USD
CY2019Q1 us-gaap Revenues
Revenues
1000720000 USD
CY2019Q2 us-gaap Revenues
Revenues
706394000 USD
CY2019Q3 us-gaap Revenues
Revenues
643396000 USD
CY2019Q4 us-gaap Revenues
Revenues
1113835000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30010000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18590000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37360000 USD
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
220150000 USD
CY2019Q1 us-gaap Earnings Per Share Basic
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-0.33
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.41
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
CY2020Q1 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
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CY2020Q2 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
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332519000 USD
CY2020Q3 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
-923874000 USD
CY2020Q4 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
71133000 USD
CY2019Q1 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
118491000 USD
CY2019Q2 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
78397000 USD
CY2019Q3 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
196396000 USD
CY2019Q4 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
-100305000 USD
CY2020Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Cost
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47423579000 USD
CY2020Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount
53605414000 USD
CY2020Q4 us-gaap Supplementary Insurance Information Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationDeferredPolicyAcquisitionCosts
2045812000 USD
CY2020Q4 us-gaap Supplementary Insurance Information Liability For Future Policy Benefits Losses Claims And Loss Expense Reserves
SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves
61768246000 USD
CY2020Q4 us-gaap Supplementary Insurance Information Unearned Premiums
SupplementaryInsuranceInformationUnearnedPremiums
0 USD
CY2020Q4 us-gaap Supplementary Insurance Information Other Policy Claims And Benefits Payable
SupplementaryInsuranceInformationOtherPolicyClaimsAndBenefitsPayable
240904000 USD
CY2019Q4 us-gaap Supplementary Insurance Information Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationDeferredPolicyAcquisitionCosts
2923454000 USD
CY2019Q4 us-gaap Supplementary Insurance Information Liability For Future Policy Benefits Losses Claims And Loss Expense Reserves
SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves
61893945000 USD
CY2019Q4 us-gaap Supplementary Insurance Information Unearned Premiums
SupplementaryInsuranceInformationUnearnedPremiums
0 USD
CY2019Q4 us-gaap Supplementary Insurance Information Other Policy Claims And Benefits Payable
SupplementaryInsuranceInformationOtherPolicyClaimsAndBenefitsPayable
256105000 USD
CY2018Q4 us-gaap Supplementary Insurance Information Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationDeferredPolicyAcquisitionCosts
3535838000 USD
CY2020 us-gaap Supplementary Insurance Information Benefits Claims Losses And Settlement Expense
SupplementaryInsuranceInformationBenefitsClaimsLossesAndSettlementExpense
744389000 USD
CY2020 us-gaap Supplementary Insurance Information Premium Revenue
SupplementaryInsuranceInformationPremiumRevenue
290609000 USD
CY2018Q4 us-gaap Supplementary Insurance Information Liability For Future Policy Benefits Losses Claims And Loss Expense Reserves
SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves
57606009000 USD
CY2018Q4 us-gaap Supplementary Insurance Information Unearned Premiums
SupplementaryInsuranceInformationUnearnedPremiums
0 USD
CY2018Q4 us-gaap Supplementary Insurance Information Other Policy Claims And Benefits Payable
SupplementaryInsuranceInformationOtherPolicyClaimsAndBenefitsPayable
270858000 USD
CY2020 us-gaap Supplementary Insurance Information Net Investment Income
SupplementaryInsuranceInformationNetInvestmentIncome
2182078000 USD
CY2020 us-gaap Supplementary Insurance Information Amortization Of Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts
649554000 USD
CY2020 us-gaap Supplementary Insurance Information Other Operating Expense
SupplementaryInsuranceInformationOtherOperatingExpense
214745000 USD
CY2019 us-gaap Supplementary Insurance Information Premium Revenue
SupplementaryInsuranceInformationPremiumRevenue
263569000 USD
CY2019 us-gaap Supplementary Insurance Information Net Investment Income
SupplementaryInsuranceInformationNetInvestmentIncome
2307635000 USD
CY2019 us-gaap Supplementary Insurance Information Benefits Claims Losses And Settlement Expense
SupplementaryInsuranceInformationBenefitsClaimsLossesAndSettlementExpense
2865621000 USD
CY2019 us-gaap Supplementary Insurance Information Amortization Of Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts
87717000 USD
CY2019 us-gaap Supplementary Insurance Information Other Operating Expense
SupplementaryInsuranceInformationOtherOperatingExpense
195442000 USD
CY2018 us-gaap Supplementary Insurance Information Premium Revenue
SupplementaryInsuranceInformationPremiumRevenue
250968000 USD
CY2018 us-gaap Supplementary Insurance Information Net Investment Income
SupplementaryInsuranceInformationNetInvestmentIncome
2147812000 USD
CY2018 us-gaap Supplementary Insurance Information Benefits Claims Losses And Settlement Expense
SupplementaryInsuranceInformationBenefitsClaimsLossesAndSettlementExpense
483075000 USD
CY2018 us-gaap Supplementary Insurance Information Amortization Of Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts
327991000 USD
CY2018 us-gaap Supplementary Insurance Information Other Operating Expense
SupplementaryInsuranceInformationOtherOperatingExpense
170290000 USD
CY2020Q4 srt Life Insurance In Force Gross
LifeInsuranceInForceGross
52234000 USD
CY2020Q4 srt Life Insurance In Force Ceded
LifeInsuranceInForceCeded
5925000 USD
CY2020Q4 srt Life Insurance In Force Assumed
LifeInsuranceInForceAssumed
49577000 USD
CY2020Q4 srt Life Insurance In Force Net
LifeInsuranceInForceNet
95886000 USD
CY2020Q4 srt Life Insurance In Force Percentage Assumed To Net
LifeInsuranceInForcePercentageAssumedToNet
0.5170
CY2019Q4 srt Life Insurance In Force Gross
LifeInsuranceInForceGross
56451000 USD
CY2019Q4 srt Life Insurance In Force Ceded
LifeInsuranceInForceCeded
6722000 USD
CY2019Q4 srt Life Insurance In Force Assumed
LifeInsuranceInForceAssumed
52653000 USD
CY2019Q4 srt Life Insurance In Force Net
LifeInsuranceInForceNet
102382000 USD
CY2019Q4 srt Life Insurance In Force Percentage Assumed To Net
LifeInsuranceInForcePercentageAssumedToNet
0.5143
CY2018Q4 srt Life Insurance In Force Gross
LifeInsuranceInForceGross
64544000 USD
CY2018Q4 srt Life Insurance In Force Ceded
LifeInsuranceInForceCeded
7832000 USD
CY2018Q4 srt Life Insurance In Force Assumed
LifeInsuranceInForceAssumed
53658000 USD
CY2018Q4 srt Life Insurance In Force Net
LifeInsuranceInForceNet
110370000 USD
CY2018Q4 srt Life Insurance In Force Percentage Assumed To Net
LifeInsuranceInForcePercentageAssumedToNet
0.4862

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