7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-06-30 2018-03-31 2017-09-30 2017-06-30 2017-03-31 2016-03-31 2015-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2013-06-30 2013-03-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 
      
    		                                            
      operating activities:
    		                                            
      net income
    		218,000,000 154,000,000 -203,000,000 651,000,000 -332,000,000 18,355,000 342,645,000 -463,450,000 476,114,000 355,146,000 -155,891,000 -18,098,000 312,601,000 360,576,000 566,223,000 93,137,000 152,865,000 -54,694,000 282,684,000 8,742,000 667,200,000 -247,429,000 242,947,000 220,150,000 37,360,000 18,590,000 -30,010,000 93,903,000 140,962,000 56,957,000 26,946,000 53,939,000 -44,841,000 82,845,000 5,903,000 67,815,000 36,744,000 -9,753,000 120,113,000 26,031,000 -7,829,000 18,759,000 10,471,000 -13,068,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                            
      other policy revenue
    		-181,000,000 -172,000,000 -149,000,000 -173,000,000                                         
      accretion on investments
    		-139,000,000 -206,000,000 -206,000,000 -164,000,000 -495,000,000                                        
      amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired
    		345,000,000 332,000,000 318,000,000 290,000,000                                         
      deferral of policy acquisition costs
    		-442,000,000 -395,000,000 -327,000,000 -343,000,000 -373,000,000                                        
      gains on investments and derivatives
    		                                            
      other losses
    		19,000,000 9,000,000 -12,000,000                                          
      provisions for credit losses
    		47,000,000 -1,000,000 -2,000,000 77,000,000                                         
      income from real estate partnerships, investment funds and corporations
    		-114,000,000 -91,000,000 -73,000,000 -46,000,000                                         
      distributions from real estate partnerships, investment funds and corporations
    		60,000,000 46,000,000 131,000,000 128,000,000                                         
      interest credited to policyholders' account balances
    		523,000,000                                            
      change in fair value of embedded derivatives
    		161,000,000 362,000,000 -134,000,000 -692,000,000 725,000,000 203,798,000 162,202,000 977,178,000 -451,806,000 213,764,000 404,440,000 342,409,000 -415,374,000 -885,984,000 -1,393,649,000 186,802,000 -536,404,000 273,713,000 -282,413,000 568,836,000 -1,732,497,000 1,126,935,000 -1,250,061,000 147,879,000 212,278,000 327,562,000 766,323,000 -101,949,000 -867,232,000 229,702,000 174,973,000 224,170,000 265,857,000 -219,601,000 51,213,000 -195,206,000 80,935,000 92,619,000 -408,409,000 363,272,000 188,201,000 -80,989,000 359,066,000 -205,565,000 
      depreciation and amortization
    		38,000,000 33,000,000 51,000,000 -2,000,000 83,000,000                                        
      deferred income taxes
    		96,000,000 98,000,000 -56,000,000 532,000,000 -332,000,000 -396,247,000 93,247,000 -124,960,000 133,452,000 100,538,000 -40,895,000 9,694,000 50,134,000 90,068,000 155,050,000 140,699,000 -39,662,000 -31,128,000 58,514,000 -30,194,000 178,397,000 -78,559,000 71,427,000 71,623,000 -3,469,000 102,000 -11,309,000 -3,665,000 -1,253,000 1,967,000 -37,295,000 -3,670,000 -45,276,000 25,637,000 -22,541,000 3,095,000 -5,558,000 -37,360,000 41,232,000 -2,451,000 -27,220,000 -1,806,000 -12,443,000 -14,588,000 
      changes in operating assets and liabilities:
    		                                            
      insurance-related liabilities
    		-143,000,000 169,000,000 652,000,000 384,000,000 189,000,000                                        
      premiums due and other receivables
    		  -17,000,000                                          
      funds withheld for reinsurance liabilities
    		-82,000,000 -72,000,000 -84,000,000 -174,000,000                                         
      reinsurance recoverables and deposit assets
    		342,000,000 200,000,000 219,000,000 150,000,000 825,000,000                                        
      accrued investment income
    		-51,000,000 29,000,000 -3,000,000 -60,000,000 -6,000,000                                        
      working capital and other
    		159,000,000 -206,000,000 -254,000,000 -1,398,000,000 164,000,000                                        
      cash flows from operating activities
    		430,000,000 535,000,000 671,000,000 418,000,000 727,000,000                                        
      investing activities:
    		                                            
      acquisition of subsidiary, net of cash acquired
    		   -2,821,000,000 0                                        
      purchase of investments:
    		                                            
      available-for-sale fixed maturity securities
    		-6,944,000,000                                            
      equity securities
    		-16,000,000 -21,000,000 -36,000,000 -149,000,000 -140,000,000                                        
      mortgage loans on real estate
    		-403,000,000 -276,000,000 -305,000,000 -1,101,000,000 -301,000,000 -919,126,000 442,126,000 379,190,000 598,869,000 277,438,000 279,348,000 343,908,000 490,185,000 546,019,000 536,216,000 362,526,000 234,765,000 159,997,000 105,378,000 148,770,000 100,511,000 45,947,000 83,584,000 87,302,000 71,019,000 78,436,000 57,599,000 71,127,000 68,017,000 54,839,000 110,296,000 75,110,000 84,248,000 119,333,000 109,846,000 99,056,000 133,050,000 84,735,000 140,541,000 125,998,000 122,348,000 120,224,000 99,199,000 47,481,000 
      private loans
    		-811,000,000 -980,000,000 -631,000,000 -315,000,000 -585,000,000                                        
      investment real estate and real estate partnerships
    		-91,000,000                                            
      investment funds
    		-812,000,000 -875,000,000 -161,000,000 -112,000,000 -69,000,000                                        
      short-term investments
    		-525,000,000 -3,383,000,000 -7,455,000,000 -8,301,000,000 2,268,000,000                                        
      other invested assets
    		-157,000,000 -58,000,000 -20,000,000 236,000,000 -184,000,000                                        
      proceeds from sales and maturities of investments:
    		                                            
      purchases of derivatives
    		-249,000,000 -252,000,000 -213,000,000 -218,000,000 -232,000,000                                        
      proceeds from sales and maturities of derivatives
    		266,000,000 239,000,000 308,000,000 586,000,000                                         
      purchase of intangibles and property and equipment
    		-17,000,000 -20,000,000 -5,000,000 23,000,000 -30,000,000                                        
      proceeds from sales of intangibles and property and equipment
    		   7,000,000 1,000,000                                        
      change in collateral held for derivatives
    		381,000,000 269,000,000 -575,000,000 -495,000,000 156,000,000 -129,978,000 390,978,000 481,127,000 -314,120,000 435,741,000 184,088,000 53,828,000 146,009,000 -466,839,000 -584,969,000 187,794,000 -326,781,000 -80,148,000 236,558,000 434,322,000 220,334,000 379,395,000 -1,106,464,000 453,553,000 56,895,000 255,318,000 424,890,000 55,188,000 -784,932,000 157,662,000 55,266,000 233,992,000 -26,754,000 228,975,000 -326,248,000 -71,293,000 179,692,000 -98,351,000 -60,486,000 224,755,000 149,047,000 -116,494,000 292,043,000 -297,780,000 
      other
    		10,000,000 -17,000,000 29,000,000 -75,000,000 60,000,000 -74,894,000 25,894,000 28,759,000 -30,674,000 14,757,000 -22,855,000 -65,056,000 -59,208,000 -21,713,000 -75,670,000 75,645,000 -62,369,000 -14,770,000 -11,844,000 -3,521,000 -2,402,000 6,852,000 -125,000 3,419,000 -4,990,000 -3,845,000 -2,009,000 -2,266,000 -3,757,000 -4,056,000 -2,529,000 -4,431,000 -2,205,000 -3,510,000 -1,307,000 -1,642,000 11,000 -1,708,000 -854,000 -1,014,000 -4,037,000 646,000 -482,000 -187,000 
      cash flows from investing activities
    		   -4,045,000,000                                         
      financing activities:
    		                                            
      issuance of preferred equity
    		0 0 292,000,000                                          
      redemption of preferred equity
    		0 0 -400,000,000                                          
      dividends paid to stockholders
    		-11,000,000 -11,000,000 -19,000,000                                          
      payments to noncontrolling interests
    		                                            
      borrowings from related parties
    		-1,000,000 10,000,000 197,000,000                                          
      repayment of borrowings to related parties
    		34,000,000 -77,000,000 -14,000,000                                          
      borrowings from external parties
    		511,000,000   600,000,000 0                                        
      repayment of borrowings to external parties
    		0   614,000,000 -286,000,000                                        
      policyholders’ account deposits
    		4,601,000,000 3,903,000,000 3,514,000,000 3,081,000,000 3,733,000,000                                        
      policyholders’ account withdrawals
    		-2,734,000,000 -2,450,000,000 -2,301,000,000 -2,636,000,000 -3,076,000,000                                        
      debt issuance costs
    		-7,000,000   0 0                                        
      issuance of equity, noncontrolling interests
    		2,000,000                                            
      distributions to noncontrolling interests
    		-12,000,000                                            
      cash flows from financing activities
    		2,381,000,000 1,439,000,000 1,267,000,000 1,084,000,000 361,000,000                                        
      cash and cash equivalents
    		                                            
      cash and cash equivalents, beginning of period
    		0 0 11,330,000,000                                          
      net change during the period
    		-536,000,000 4,584,000,000 -3,810,000,000 -2,543,000,000                                         
      cash and cash equivalents, at end of period
    		-536,000,000                                            
      supplementary cash flow disclosure:
    		                                            
      cash taxes paid
    		1,000,000 92,000,000 -38,000,000 324,000,000 63,000,000                                        
      cash interest paid
    		12,000,000 65,000,000 20,000,000 55,000,000 36,000,000                                        
      non-cash transactions:
    		                                            
      available-for-sale fixed maturity securities received in connection with pension risk transfer transactions
    		                                            
      equity securities transferred as consideration paid for acquisition of a subsidiary
    		                                            
      non-cash deposit on reinsurance
    		   0                                         
      transfer of invested assets
    		   7,000,000                                         
      fixed maturities received as proceeds from investment fund sales
    		                                            
      losses (gains) on investments and derivatives
    		 -230,000,000 308,000,000 343,000,000                                         
      premiums due and other receievables
    		                                            
      cash flows used in investing activities
    		 2,610,000,000 -5,748,000,000                                          
      repayment of borrowings issued to reinsurance entities
    		 8,000,000 -6,000,000                                          
      investments received as in-kind consideration from sales of investment funds
    		                                            
      interest credited to policyholder account balances
    		  512,000,000 844,000,000 663,000,000                                        
      fixed maturity, available-for-sale
    		  -2,596,000,000 -3,890,000,000                                         
      real estate and real estate partnerships
    		  -39,000,000 1,326,000,000                                         
      purchase of equity accounted investments
    		                                            
      distributions from equity accounted investments
    		                                            
      borrowings issued to reinsurance entities
    		  6,000,000                                          
      issuance of equity, noncontrolling interest
    		  1,000,000                                          
      distributions to noncontrolling interest
    		  -3,000,000 -53,000,000 4,000,000                                        
      cash and cash equivalents, end of period
    		  7,520,000,000 -2,543,000,000 -22,000,000                                        
      supplementary disclosures of cash flow information:
    		                                            
      non-cash investing and financing activities:
    		                                            
      premium in-kind consideration received
    		                                            
      disposition of subsidiary, net of cash disposed
    		                                            
      issuance of common equity
    		                                            
      payment related to recapture of reinsurance agreement
    		                                            
      fixed maturity securities, available-for-sale received in connection with pension risk transfer transactions
    		   1,167,000,000                                         
      deposit liabilities
    		    -73,000,000                                        
      net change in policy loans
    		                                            
      dividends paid on preferred stock
    		    -11,000,000 -81,000 -10,919,000 -10,919,000 -10,918,000 -10,919,000 -10,919,000 -10,919,000 -10,918,000 -10,919,000 -10,919,000                              
      payments to noncontrolling interest
    		                                            
      cash and cash equivalents, beginning of year
    		    0                                        
      other policy revenue - annuity product charges
    		                                            
      amortization of dac, dsi and voba asset
    		                                            
      losses (gains) on investments and derivatives and from disposition of business, net:
    		                                            
      unrealized losses (gains) on investments and derivatives
    		                                            
      realized losses (gains) on investments and derivatives
    		                                            
      investment credit losses
    		                                            
      income from real estate partnerships and investment funds
    		                                            
      distributions from real estate partnerships and investment funds
    		                                            
      reinsurance funds withheld
    		                                            
      fixed maturity, available for sale
    		                                            
      real estate
    		                                            
      real estate partnerships
    		                                            
      proceeds from (payments upon) sales and maturities of derivatives
    		                                            
      proceeds from noncontrolling interest
    		                                            
      net change during the year
    		                                            
      fixed maturity securities, available for sale received in connection with pension risk transfer transactions
    		                                            
      equity securities transferred as part of acquisition of a subsidiary
    		                                            
      operating activities
    		                                            
      interest sensitive and index product benefits
    		      304,220,000 193,439,000 193,686,000 122,387,000 57,911,000 160,243,000 121,890,000 234,855,000 372,662,000 574,816,000 817,014,000 812,981,000 476,595,000 325,912,000 576,147,000 240,992,000 400,219,000 399,514,000 500,285,000 251,103,000 136,674,000 427,951,000 514,095,000 501,028,000 472,596,000 419,139,000 97,671,000 306,141,000 282,825,000 429,415,000 367,774,000 317,192,000 336,025,000 225,809,000 246,105,000 142,733,000 139,123,000 223,232,000 
      amortization of deferred sales inducements
    		      54,214,000 50,346,000 48,354,000 46,951,000 46,601,000 46,773,000 127,784,000 90,446,000 143,545,000 59,409,000 -17,172,000 -12,520,000 122,975,000 22,768,000 416,983,000 -75,178,000 73,591,000 91,260,000 -55,769,000 19,785,000 33,309,000 78,112,000 100,423,000 14,707,000 33,695,000 62,325,000 27,479,000 75,518,000 10,953,000 40,661,000 55,349,000 666,000 120,536,000 28,831,000 7,709,000 25,940,000 16,710,000 -28,065,000 
      annuity product charges
    		      -95,613,000 -96,947,000 -84,316,000 -71,642,000 -62,591,000 -61,666,000 -60,819,000 -55,514,000 -52,355,000 -60,310,000 -58,480,000 -63,759,000 -60,082,000 -65,963,000 -62,277,000 -63,438,000 -59,549,000 -62,722,000 -63,647,000 -60,700,000 -52,966,000 -55,006,000 -50,723,000 -51,931,000 -48,603,000 -43,572,000 -36,505,000 -32,409,000 -28,682,000 -31,958,000 -29,247,000 -25,272,000 -23,511,000 -21,481,000 -23,875,000 -21,908,000 -19,393,000 -20,405,000 
      change in traditional life and accident and health insurance reserves
    		      -9,563,000 10,277,000 -11,819,000 -10,384,000 1,720,000 -5,479,000 -4,909,000 -3,806,000 -12,779,000 20,603,000 8,147,000 5,966,000 5,374,000 2,187,000 3,185,000 3,360,000 -38,000 1,567,000 -2,224,000 -2,464,000 -425,000 -594,000 2,049,000 48,000 -604,000 726,000    -927,000 1,414,000 -91,000       
      policy acquisition costs deferred
    		      -191,814,000 -209,404,000 -161,250,000 -138,916,000 -66,767,000 -52,125,000 -41,585,000 -48,344,000 -56,569,000 -64,146,000 -63,553,000 -83,154,000 -97,004,000 -76,903,000 -54,390,000 -59,417,000 -64,444,000 -78,223,000 -108,217,000 -127,656,000 -108,420,000 -103,482,000 -96,562,000 -90,446,000 -111,335,000 -110,574,000 -156,934,000 -170,318,000 -121,822,000 -112,092,000 -106,645,000 -93,333,000 -110,881,000 -94,638,000 -100,712,000 -95,396,000 -91,177,000 -119,941,000 
      amortization of deferred policy acquisition costs
    		      77,337,000 72,428,000 70,561,000 68,476,000 68,235,000 64,338,000 183,182,000 142,354,000 225,426,000 82,999,000 -1,588,000 -16,906,000 203,823,000 26,145,000 622,596,000 -119,889,000 120,702,000 133,573,000 -120,934,000 29,946,000 45,132,000 115,049,000 140,639,000 23,023,000 49,547,000 89,678,000 49,713,000 104,700,000 14,286,000 39,671,000 67,084,000 7,194,000 169,270,000 46,230,000 25,954,000 44,848,000 34,284,000 -28,930,000 
      benefit from depreciation and other amortization
    		      3,350,000 2,586,000 2,146,000 896,000 3,025,000 1,340,000 2,581,000 8,014,000 2,250,000 1,542,000 1,214,000 1,253,000 1,518,000 1,342,000 1,372,000 1,403,000 1,082,000 1,205,000 947,000 967,000 949,000 804,000 900,000 832,000 1,004,000 957,000 875,000 1,251,000 1,267,000 2,180,000 2,398,000 3,000,000 4,749,000 4,607,000 4,819,000 4,603,000 4,547,000 4,821,000 
      amortization of discounts and premiums on investments
    		      2,601,000 -107,685,000 79,373,000 18,335,000 13,450,000 2,003,000 5,348,000 -4,453,000 -258,000 1,423,000 2,994,000 7,347,000 8,097,000 20,327,000 19,465,000 7,843,000 9,802,000 4,084,000 9,028,000 8,249,000 4,485,000 3,330,000 6,002,000 2,435,000 5,844,000 2,800,000 -3,103,000 -5,100,000 -1,428,000 -10,076,000 405,000 -2,829,000 15,842,000 -6,296,000 -11,576,000 -24,282,000 -39,738,000 -36,758,000 
      realized gains/losses on investments
    		      94,050,000 38,065,000 44,672,000 24,679,000 27,787,000 -14,411,000 15,860,000 33,272,000 13,127,000 10,478,000 -4,933,000 3,114,000 4,583,000 12,135,000 22,321,000                        
      distributions from equity method investments
    		      24,601,000 74,109,000 33,434,000   -1,008,000 2,894,000   1,712,000 763,000 2,303,000 7,631,000 1,778,000    1,593,000 407,000   60,000 66,000                
      change in fair value of derivatives
    		      -409,767,000 -353,443,000 383,026,000 -242,739,000 -45,890,000 -22,244,000 176,671,000 506,181,000 477,519,000 -522,220,000 70,701,000 -500,880,000 -396,305,000 -443,869,000 -205,011,000 -327,662,000 941,874,000 -465,929,000 20,054,000 -75,945,000 -384,381,000 -132,267,000 450,906,000 -362,775,000 -267,097,000 -386,842,000 73,657,000 22,555,000 30,636,000 -39,773,000 -271,360,000 -48,493,000 -64,040,000 -373,962,000 -161,090,000 150,847,000 -259,161,000 333,063,000 
      share-based compensation
    		      1,946,000 -1,844,000 10,263,000 10,973,000 9,904,000 5,119,000 4,288,000 824,000 5,596,000 5,336,000 6,109,000 8,860,000 4,296,000 2,700,000 3,121,000 2,105,000 2,289,000 1,893,000 2,042,000 3,155,000 4,205,000 2,520,000 3,526,000 1,260,000 1,751,000 2,403,000 2,234,000 1,660,000 1,687,000 522,000 583,000 37,000 1,721,000 1,290,000 1,883,000 1,918,000 1,106,000 1,410,000 
      change in accrued investment income
    		      28,227,000 -15,690,000 44,754,000 9,029,000 426,000 18,798,000 -24,110,000 -8,637,000 -38,805,000 -31,727,000 -15,977,000 12,719,000 -12,030,000 54,565,000 -2,357,000 22,377,000 159,000 24,465,000 -16,627,000 16,800,000 -28,735,000 6,969,000 -25,511,000 -22,700,000 7,662,000 -26,371,000 -31,229,000 15,069,000 -31,682,000 -36,174,000 18,777,000 -21,177,000 10,649,000 -36,508,000 -32,231,000 -8,022,000 -7,685,000 2,665,000 
      change in income taxes recoverable/payable
    		      13,512,000   -4,857,000 4,677,000 48,340,000 31,403,000 30,826,000 519,000 -206,064,000 80,497,000 -60,618,000 20,461,000 33,911,000 1,189,000 10,362,000 -46,753,000 30,706,000 17,807,000 -23,403,000 1,856,000 -103,504,000 37,906,000 -10,115,000 -20,639,000 31,161,000 20,573,000 -35,178,000 22,542,000 30,703,000     13,349,000 -20,934,000 17,441,000 -8,594,000 
      change in other assets
    		      -11,255,000 110,717,000 -60,596,000 -169,907,000 -34,940,000 9,015,000 -10,333,000 -8,175,000 -21,480,000 -2,461,000 -2,236,000 1,399,000 -1,166,000 -3,156,000 -748,000 1,022,000 2,033,000 -3,598,000 2,859,000 133,000 -5,001,000 -892,000 -470,000 -402,000 400,000 33,000 -1,164,000 1,096,000 -918,000 -2,279,000 259,000 -339,000 -1,611,000 1,315,000 4,723,000 -9,395,000 -682,000 2,193,000 
      change in other policy funds and contract claims
    		      -7,645,000 -8,665,000 -6,870,000 -105,696,000 -207,895,000 244,608,000 -257,975,000 96,112,000 197,191,000 -3,838,000 -6,243,000 -2,157,000 -7,571,000 -2,914,000 -3,729,000 -5,734,000 -9,488,000 -5,506,000 -5,860,000 -4,546,000 -6,059,000 -4,824,000 -4,343,000 -5,117,000 -7,839,000 -6,985,000 -12,544,000 -12,944,000 -14,171,000 -16,400,000 -13,569,000 -17,288,000 -7,084,000 -8,451,000 23,020,000 15,324,000 18,224,000 56,948,000 
      change in market risk benefits
    		      -138,771,000 242,436,000 -296,167,000 -155,389,000 192,253,000                                  
      change in funds withheld from reinsurers
    		      256,921,000 187,465,000 703,157,000 600,635,000 342,602,000 302,349,000 415,758,000 132,726,000 80,767,000                              
      change in other liabilities
    		      58,489,000 -208,288,000 -1,023,443,000 1,218,826,000 145,648,000 -149,684,000 90,635,000 -12,555,000 96,591,000 -80,496,000 8,141,000 -56,558,000 -92,813,000 61,276,000 14,126,000 -9,191,000 -27,216,000 -49,277,000 19,364,000 -606,000 1,912,000 -16,625,000 -6,472,000 -25,639,000 1,906,000 -38,754,000 -38,041,000 20,254,000 -7,113,000 -8,024,000 -2,230,000 -30,056,000 6,690,000 -6,215,000 14,863,000 8,102,000 -19,523,000 12,968,000 
      net cash from operating activities
    		      1,070,006,000 910,207,000 -217,889,000 2,382,448,000 865,043,000 919,086,000 812,725,000 212,438,000 99,932,000 3,595,873,000 13,047,000 152,363,000 471,881,000 949,755,000 683,127,000 836,804,000 -1,164,700,000 1,063,122,000 417,046,000 759,242,000 1,111,992,000 299,589,000 -443,176,000 433,714,000 333,153,000 497,927,000 141,612,000 405,712,000 -140,215,000 91,972,000 347,218,000 48,163,000 121,648,000 369,616,000 329,225,000 42,703,000 457,720,000 -85,506,000 
      capex
    		      -4,631,000 -14,050,000 -22,467,000 -9,375,000 -4,192,000 -6,746,000 -25,888,000 -5,903,000 -2,424,000 -3,049,000 -5,272,000 -6,064,000 -3,724,000 -800,000 -816,000 -1,514,000 -10,110,000 -874,000 -1,748,000 -680,000 -720,000 -1,675,000 -1,099,000 -1,400,000 -1,092,000 -1,402,000 -244,000 -297,000 -295,000 -155,000 -422,000 -200,000 -210,000 -78,000 -105,000 -82,000 -191,000 -1,091,000 
      free cash flows
    		      1,065,375,000 896,157,000 -240,356,000 2,373,073,000 860,851,000 912,340,000 786,837,000 206,535,000 97,508,000 3,592,824,000 7,775,000 146,299,000 468,157,000 948,955,000 682,311,000 835,290,000 -1,174,810,000 1,062,248,000 415,298,000 758,562,000 1,111,272,000 297,914,000 -444,275,000 432,314,000 332,061,000 496,525,000 141,368,000 405,415,000 -140,510,000 91,817,000 346,796,000 47,963,000 121,438,000 369,538,000 329,120,000 42,621,000 457,529,000 -86,597,000 
      investing activities
    		                                            
      sales, maturities, or repayments of investments:
    		                                            
      fixed maturity securities, available for sale
    		      4,707,376,000 948,892,000 5,345,751,000 1,954,429,000 3,150,639,000 4,554,798,000 1,679,469,000 1,677,615,000 1,779,328,000  762,640,000 1,416,169,000 1,116,965,000  931,713,000 496,187,000 1,916,960,000  1,324,895,000 572,912,000 286,855,000                  
      derivative instruments
    		      303,371,000 194,542,000 172,594,000 124,471,000 -132,000 6,283,000 204,291,000 92,971,000 280,510,000 519,602,000 571,392,000 769,643,000 400,322,000 226,572,000 203,286,000 109,709,000 320,953,000 305,251,000 114,077,000 183,057,000 55,500,000 369,421,000 479,675,000 400,448,000 400,613,000 349,732,000 6,747,000 237,545,000 214,667,000 353,689,000 291,769,000 241,098,000 262,132,000 146,918,000 166,026,000 53,186,000 57,015,000 156,938,000 
      other investments
    		      1,103,923,000 1,320,165,000 176,252,000 264,466,000 705,059,000 298,948,000 86,023,000 327,680,000 26,376,000 356,829,000 6,426,000 1,393,000 4,189,000 1,086,000 225,000 33,000 2,980,000 464,662,000 4,480,000 2,345,000 1,062,000 1,726,000 153,936,000 1,862,000 2,521,000 4,990,000 4,274,000 3,712,000 7,218,000 3,270,000 4,303,000 8,942,000 6,366,000 5,371,000 15,539,000 5,794,000 4,568,000 34,000 
      acquisitions of investments:
    		                                            
      real estate investments acquired
    		      -35,649,000 -57,469,000 -28,526,000 -110,668,000 -120,907,000 -112,603,000 -250,061,000 -193,732,000 -168,088,000                              
      purchases of property, furniture and equipment
    		      -4,631,000 -14,050,000 -22,467,000 -9,375,000 -4,192,000 -6,746,000 -25,888,000 -5,903,000 -2,424,000 -3,049,000 -5,272,000 -6,064,000 -3,724,000 -800,000 -816,000 -1,514,000 -10,110,000 -874,000 -1,748,000 -680,000 -720,000 -1,675,000 -1,099,000 -1,400,000 -1,092,000 -1,402,000 -244,000 -297,000 -295,000 -155,000 -422,000 -200,000 -210,000 -78,000 -105,000 -82,000 -191,000 -1,091,000 
      net cash from investing activities
    		      3,338,218,000 -1,299,809,000 5,213,132,000 -223,196,000 804,501,000 -177,889,000 358,186,000 -188,970,000 -2,446,238,000 -7,625,767,000 950,944,000 329,787,000 120,729,000 4,505,862,000 -149,104,000 -78,446,000 856,292,000 -149,475,000 -954,227,000 -1,026,070,000 -925,114,000 -36,058,000 -661,329,000 -553,739,000 -834,122,000 -519,913,000 -956,073,000 -1,194,044,000 -1,059,890,000 -1,481,227,000 -90,173,000 -626,567,000 -1,106,520,000 -1,270,294,000 85,566,000 -1,660,336,000 1,153,852,000 -1,061,379,000 
      financing activities
    		                                            
      receipts credited to annuity policyholder account balances
    		      2,348,431,000 1,996,378,000 2,237,786,000 2,000,479,000 1,370,663,000 899,529,000 750,386,000 777,818,000 888,488,000 1,030,741,000 1,293,679,000 1,164,827,000 2,420,777,000 1,837,093,000 563,671,000 548,717,000 699,455,000                     1,267,364,000 
      coinsurance deposits
    		      -91,042,000 375,257,000 -311,913,000 -296,245,000 -215,927,000 55,109,000 -286,854,000 34,351,000 10,757,000 -3,871,161,000 186,432,000 278,410,000 218,987,000 126,475,000 99,410,000 90,228,000 114,531,000 23,380,000 8,668,000 21,388,000 37,802,000 -29,848,000 -6,867,000 -46,000 -32,808,000 63,746,000 -378,412,000 16,261,000 -33,061,000 27,627,000 16,722,000 -2,609,000 10,319,000 5,641,000 12,266,000 20,848,000 -49,478,000 -43,736,000 
      return of annuity policyholder account balances
    		      -2,910,342,000 -2,546,127,000 -1,778,172,000 -1,648,098,000 -1,601,547,000 -1,533,318,000 -1,274,902,000 -1,250,629,000 -1,198,638,000 -1,283,802,000 -1,246,449,000 -1,364,698,000 -1,250,244,000 -1,117,867,000 -950,843,000 -946,323,000 -1,025,021,000 -958,746,000 -900,201,000 -908,274,000 -817,739,000 -761,067,000 -738,219,000 -647,881,000 -673,592,000 -727,494,000 -581,260,000 -530,425,000 -492,242,000 -466,003,000 -469,399,000 -475,280,000 -426,862,000 -402,185,000 -426,836,000 -433,851,000 -414,521,000 -459,420,000 
      repayment of loan payable
    		      -1,875,000 -2,025,000 -1,726,000 -1,874,000 -1,875,000 -1,875,000                                 
      acquisition of treasury stock
    		       231,000 -13,507,000 -2,932,000 -293,193,000 -44,099,000 -154,088,000 -188,984,000 -179,396,000 0 -1,340,000 -95,077,000 -2,998,000                          
      proceeds from issuance of common stock
    		      264,000 1,173,000 20,114,000 2,764,000 -3,631,000 1,117,000 19,000 1,304,000 251,538,000 0 -306,000 154,000 5,006,000 336,323,000 32,000 451,000 1,255,000 1,279,000 394,000 -94,000 112,000 2,988,000 4,516,000 3,673,000 901,000 3,717,000 3,740,000 1,310,000 4,089,000 1,997,000 1,948,000 6,093,000 5,181,000 7,103,000 2,993,000 341,000 721,000 206,000 
      change in checks in excess of cash balance
    		      -19,480,000 159,782,000 50,874,000 20,378,000 -54,932,000 35,363,000 28,228,000 -33,083,000 9,393,000 20,674,000 -24,561,000 -17,707,000 18,384,000 10,206,000 7,654,000 25,900,000 -40,149,000 34,437,000 -651,000 -596,000 -4,021,000 1,653,000 -22,838,000 17,861,000 -16,464,000 -10,084,000 -10,358,000 -31,920,000 -12,126,000 2,027,000 -2,027,000 -32,192,000 -3,637,000 -11,570,000 4,705,000 -6,365,000 -6,243,000 5,365,000 
      net cash from financing activities
    		      -684,963,000 -26,250,000 192,538,000   -629,660,000 -650,004,000 -670,142,000 -228,777,000 -4,145,917,000 196,537,000 -45,010,000 1,398,993,000 983,273,000 -286,026,000 -182,822,000 -151,885,000 241,008,000 459,951,000 366,905,000 584,616,000 272,407,000 394,244,000 -169,226,000 903,134,000 403,468,000 1,123,889,000 1,228,382,000 792,355,000 713,522,000 528,316,000 360,047,000 849,664,000 514,230,000 574,813,000 498,350,000 510,589,000 769,715,000 
      increase in cash and cash equivalents
    		      3,723,261,000 -415,852,000 5,187,781,000 2,222,805,000 858,183,000 111,537,000 520,907,000 -646,674,000 -2,575,083,000 -8,175,811,000 1,160,528,000 437,140,000 1,991,603,000 6,438,890,000 247,997,000 575,536,000 -460,293,000 1,154,655,000 -77,230,000 100,077,000 771,494,000 535,938,000 -710,261,000 -289,251,000 402,165,000 381,482,000 309,428,000      -135,208,000 -386,448,000 989,604,000 -1,119,283,000 2,122,161,000 -377,170,000 
      cash and cash equivalents at beginning of period
    		      9,772,586,000  0 0 1,919,669,000  0 0 4,508,982,000  0 0 9,095,522,000  0 0 2,293,392,000  0 0 344,396,000 0 1,434,045,000 0 0 791,266,000 397,749,000 0 701,514,000 0 0 897,529,000 0 1,268,545,000 0 0 404,952,000 0 
      cash and cash equivalents at end of period
    		      13,495,847,000  5,187,781,000 2,222,805,000 2,777,852,000  520,907,000 -646,674,000 1,933,899,000  1,160,528,000 437,140,000 11,087,125,000  247,997,000 575,536,000 1,833,099,000  -77,230,000 100,077,000 1,115,890,000 535,938,000 723,784,000 -289,251,000 402,165,000 1,172,748,000 707,177,000 440,050,000 293,764,000 -675,733,000 785,361,000 679,172,000 -135,208,000 882,097,000 989,604,000 -1,119,283,000 2,527,113,000 -377,170,000 
      supplemental disclosures of cash flow information
    		                                            
      cash paid during period for:
    		                                            
      interest expense
    		      6,358,000 18,922,000 13,072,000 12,223,000 5,803,000 20,039,000 1,250,000 13,750,000 1,250,000 15,000,000 0 13,750,000 1,250,000 13,750,000 1,250,000 13,904,000 2,523,000 16,389,000 3,977,000 16,721,000 5,792,000 16,661,000 3,488,000 16,844,000 4,057,000 18,682,000 16,278,000 2,946,000 16,580,000 16,993,000 4,104,000 17,993,000 6,125,000 6,470,000 6,550,000 7,294,000 7,014,000 6,919,000 
      income taxes
    		      546,000 5,103,000 0 -260,121,000 262,020,000 0    85,368,000 4,595,000   32,000 4,971,000 -172,000 11,000 220,000 0     38,055,000 71,479,000 47,000 200,000 53,287,000 114,000 23,252,000 46,923,000 21,500,000 37,500,000 10,200,000 9,288,000   15,600,000 
      income tax refunds received
    		      14,059,000 19,999,000 0 -52,447,000 52,500,000 81,457,000 310,000      -440,000                          
      non-cash operating activity:
    		                                            
      deferral of sales inducements
    		      127,704,000 160,506,000 171,164,000 136,856,000 45,267,000 33,617,000 27,386,000 23,242,000 23,446,000 23,477,000 22,021,000 24,812,000 24,850,000 25,142,000 21,206,000 22,710,000 24,552,000 36,981,000 46,969,000 48,370,000 45,621,000 49,468,000 43,670,000 46,984,000 62,847,000 65,245,000 107,673,000 125,600,000 93,591,000 85,320,000 83,270,000 72,687,000 91,033,000 73,898,000 77,536,000 73,229,000 70,019,000 92,176,000 
      real estate investments sold
    		       2,000,000 1,131,000                                    
      proceeds from issuance of loan payable
    		           0                                 
      dividends paid on common stock
    		                                            
      cash and cash equivalents at beginning of year
    		                                            
      cash and cash equivalents at end of year
    		                                            
      cash paid during the year for:
    		                                            
      net cash provided used in financing activities
    		          -811,361,000                                  
      loss on extinguishment of debt
    		                   0 0 0 2,024,000       18,389,000      0         
      change in collateral held for securities lending
    		                   -671,000 -88,000 -5,233,000 -489,047,000 129,509,000 -76,316,000 120,899,000 321,009,000                  
      repayment of subordinated debentures
    		                   0 0 0 -81,450,000                      
      proceeds from issuance of preferred stock
    		                   0 0                        
      fixed maturity securities - available for sale
    		                           2,109,217,000 265,837,000 363,077,000 453,451,000 517,301,000 581,647,000 609,839,000 276,734,000 293,978,000 730,683,000 208,747,000 1,355,616,000 937,343,000 519,354,000 457,896,000 965,283,000 189,011,000 
      net proceeds from (repayments of) amounts due under repurchase agreements
    		                                            
      real estate acquired
    		                -1,025,000                            
      preferred stock dividends
    		                -10,918,000 -10,919,000 -10,919,000  -5,950,000 -5,950,000 -6,611,000                      
      net proceeds from amounts due under repurchase agreements
    		                      186,105,000    134,033,000  137,223,000 -38,131,000               
      cash paid (received) during period for:
    		                                            
      realized gains on investments and net credit losses recognized in operations
    		                      20,336,000                      
      realized gains on investments and net otti losses recognized in operations
    		                       10,383,000 -4,227,000 5,045,000 563,000  605,000 -1,115,000 -2,924,000 -2,197,000             
      financing fees incurred and deferred
    		                             214,000      0 0 -100,000      0 
      proceeds from issuance of notes payable
    		                             0               
      repayment of notes payable
    		                                   0 -65,094,000 -54,583,000       
      dividends paid
    		                                            
      receipts credited to annuity and single premium universal life policyholder account balances
    		                        1,302,810,000 1,497,812,000 1,234,429,000 1,195,904,000 1,020,429,000 908,336,000 1,169,597,000 1,073,583,000 2,089,739,000 1,788,045,000 1,307,792,000 1,066,149,000 1,035,076,000 915,631,000  914,936,000 982,024,000 917,349,000 979,445,000  
      repayment of amounts due under repurchase agreements
    		                                            
      realized (gains) losses on investments and net otti losses recognized in operations
    		                                            
      excess tax benefits realized from share-based compensation plans
    		                                440,000 186,000 2,828,000 536,000 689,000 3,087,000 75,000 305,000 -69,000 28,000 665,000 -57,000 
      non-cash financing activity:
    		                                            
      common stock issued to settle warrants that have expired
    		                                80,000            
      repayment of debt
    		                                            
      increase in traditional life and accident and health insurance reserves
    		                                -858,000       402,000 15,198,000 6,620,000 6,032,000 24,892,000 
      realized gains/losses on investments and net otti losses recognized in operations
    		                                3,007,000 -3,496,000 -4,747,000 3,754,000 2,824,000 1,619,000 -12,914,000 -7,348,000 2,924,000 1,589,000 8,957,000  
      acquisition of investments:
    		                                            
      proceeds from amounts due under repurchase agreements
    		                                  15,075,000          
      non-cash financing activities:
    		                                            
      decrease in traditional life and accident and health insurance reserves
    		                                 2,567,000 -868,000          
      net proceeds from settlement of notes hedges and warrants
    		                                   0         
      non-cash investing activity:
    		                                            
      real estate acquired in satisfaction of mortgage loans
    		                                   1,748,000 8,294,000 1,713,000 0 844,000 2,947,000 8,682,000 3,303,000 11,050,000 
      common stock issued in extinguishment of debt
    		                                   0 33,115,000 23,177,000       
      decrease in cash and cash equivalents
    		                                  -407,750,000   -218,357,000       
      equity securities - available for sale
    		                                        1,999,000 3,000,000 2,605,000 0 
      proceeds from notes payable
    		                                            
      warrants to be settled in cash
    		                                            
      loss on extinguishment of debt, net of tax
    		                                     3,977,000       
      change in income taxes payable
    		                                     7,909,000 -13,921,000 5,438,000     
      fixed maturity securities - held for investment
    		                                        929,878,000 547,513,000 1,140,816,000  
      conversion of subordinated debentures
    		                                        8,216,000 12,494,000 60,000  
      acquisition of common stock
    		                                           -7,000 
      mortgage loan on real estate sold
    		                                           0 
      realized gains on investments and net otti losses recognized
    		                                           26,183,000 
      repayments of notes payable
    		                                            
      purchase of call spread - 2015 notes hedges
    		                                            
      proceeds from issuance of warrants
    		                                            
      adjustments related to interest sensitive products:
    		                                            
      interest credited to account balances
    		                                            
      annuity and single premium universal life product charges
    		                                            
      amortization of discount on contingent convertible notes
    		                                            
      amortization of discount and premiums on investments
    		                                            
      realized gains on investments
    		                                            
      changes in other operating assets and liabilities:
    		                                            
      income taxes recoverable
    		                                            
      other assets
    		                                            
      other policy funds and contract claims
    		                                            
      other amounts due to related parties
    		                                            
      other liabilities
    		                                            
      equity securities, available for sale
    		                                            
      policy loans
    		                                            
      coinsurance deposits - related party
    		                                            
      return of annuity and single premium universal life policyholder account balances
    		                                            
      increase in amounts due under repurchase agreements
    		                                            
      proceeds from issuance of subordinated debentures
    		                                            
      excess tax benefits realized from exercise of stock options
    		                                            
      checks in excess of cash balance
    		                                            
      supplemental disclosures of cash flow information:
    		                                            
      non-cash financing and investing activities:
    		                                            
      premium and interest bonuses deferred as sales inducements
    		                                            
      subordinated debentures issued to subsidiary trusts for common equity securities of the subsidiary trust
    		                                            
      amortization of discounts and premiums on fixed maturity securities
    		                                            
      realized losses (gains) on investments
    		                                            
      federal income taxes recoverable/payable
    		                                            
      fixed maturity securities—available for sale
    		                                            
      fixed maturity securities—held for investment
    		                                            
      coinsurance deposits—related parties
    		                                            
      settlement of option agreement
    		                                            
      tax benefits realized from exercise of stock options, management subscription rights and settlement of option agreement
    		                                            
      non-cash operating, financing and investing activities:
    		                                            
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.