v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Revenue $ 1,297,622 $ 1,217,643 $ 2,567,735 $ 2,417,297
Net investment income 293,820 282,169 583,644 562,783
Realized gains (losses) 7,138 (18,574) 5,660 (18,489)
Other income 1,150 49 2,310 118
Total revenue 1,599,730 1,481,287 3,159,349 2,961,709
Benefits and expenses:        
Total policyholder benefits 798,251 755,998 1,587,835 1,506,763
Amortization of deferred acquisition costs 120,537 111,401 238,819 216,916
Commissions, premium taxes, and non-deferred acquisition costs 173,754 157,411 343,640 321,734
Other operating expense 116,251 108,293 229,986 217,039
Interest expense 36,050 34,885 70,050 69,877
Total benefits and expenses 1,244,843 1,167,988 2,470,330 2,332,329
Income before income taxes 354,887 313,299 689,019 629,380
Income tax benefit (expense) (67,140) (60,550) (130,746) (122,068)
Net income $ 287,747 $ 252,749 $ 558,273 $ 507,312
Basic net income per common share (in dollars per share) $ 3.71 $ 3.09 $ 7.16 $ 6.13
Diluted net income per common share (in dollars per share) $ 3.65 $ 3.05 $ 7.04 $ 6.07
Life Insurance        
Revenue:        
Revenue $ 860,767 $ 839,544 $ 1,713,972 $ 1,669,407
Benefits and expenses:        
Total policyholder benefits [1] 513,959 519,355 1,032,809 1,029,111
Health Insurance        
Revenue:        
Revenue 436,855 378,099 853,763 747,890
Benefits and expenses:        
Total policyholder benefits [2] 277,012 229,924 540,746 463,853
Other        
Benefits and expenses:        
Total policyholder benefits $ 7,280 $ 6,719 $ 14,280 $ 13,799
[1] Net of total remeasurement gain of $23.5 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $16.7 million before tax for the same period in 2025. Net of total remeasurement gain of $42.4 million before tax for the six months ended June 30, 2026 and a total remeasurement gain of $25.3 million before tax for the same period in 2025.
[2] Net of total remeasurement gain of $1.3 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $3.9 million before tax for the same period in 2025. Net of total remeasurement gain of $7.3 million before tax for the six months ended June 30, 2026 and a total remeasurement gain of $4.3 million before tax for the same period in 2025.