Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Summary of Income (loss) Before Income Taxes by Segment

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


		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
		(In thousands)
Term Life Insurance segment:
Total revenues		$	443,605			$	441,834			$	908,240			$	899,676
Benefits and expenses:
Benefits and claims			144,174				148,725				311,425				319,968
Future policy benefits remeasurement (gain) loss			(4,858	)			(5,743	)			(12,422	)			(9,145	)
Amortization of DAC			83,567				78,386				166,234				155,308
Insurance expenses			70,020				63,216				135,399				126,861
Insurance commissions			2,223				2,238				4,265				4,887
Total benefits and expenses			295,126				286,822				604,901				597,879
Income before income taxes		$	148,479			$	155,012			$	303,339			$	301,797


		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
		(In thousands)
Investment and Savings Products segment:
Total revenues		$	360,518			$	298,298			$	711,164			$	589,109
Expenses:
Amortization of DAC			1,304				1,368				2,638				2,705
Insurance commissions			3,450				3,468				6,907				6,745
Sales commissions:
Sales-based			95,816				82,935				190,984				160,202
Asset-based			100,677				78,010				196,037				154,256
Other operating expenses:
Fees based on client asset values			14,493				11,404				27,780				22,319
Fees based on fee-generating positions			10,553				11,015				21,674				23,425
Other expenses			30,010				30,677				60,029				58,766
Total expenses			256,303				218,877				506,049				428,418
Income before income taxes		$	104,215			$	79,421			$	205,115			$	160,691


		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
		(In thousands)
Corporate and Other Distributed Products segment:
Total revenues		$	60,944			$	53,202			$	118,355			$	109,392
Benefits and expenses:
Benefits and claims			3,154				3,769				7,157				7,387
Future policy benefits remeasurement (gain) loss			(180	)			(152	)			7				(23	)
Amortization of DAC			257				289				516				579
Insurance expenses			1,139				1,146				2,327				2,307
Insurance commissions			105				45				224				243
Sales commissions			5,431				5,346				10,113				9,951
Interest expense			5,833				6,000				11,693				12,005
Other operating expenses			39,680				36,695				87,135				83,619
Total benefits and expenses			55,419				53,138				119,172				116,068
Income (loss) before income taxes		$	5,525			$	64			$	(817	)		$	(6,676	)

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

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


		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
		(In thousands)
Revenues:
Term Life Insurance segment		$	443,605			$	441,834			$	908,240			$	899,676
Investment and Savings Products segment			360,518				298,298				711,164				589,109
Corporate and Other Distributed Products segment			60,944				53,202				118,355				109,392
Total revenues		$	865,067			$	793,334			$	1,737,759			$	1,598,177


Income (loss) before income taxes:
Term Life Insurance segment		$	148,479			$	155,012			$	303,339			$	301,797
Investment and Savings Products segment			104,215				79,421				205,115				160,691
Corporate and Other Distributed Products segment			5,525				64				(817	)			(6,676	)
Total income before income taxes		$	258,219			$	234,497			$	507,637			$	455,812