(7) Funds Withheld Receivables The Company’s consolidated funds withheld receivables are summarized as follows:
| | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | Cost or Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Carrying Value | Funds withheld receivables with FGL | | | | | | | | | | Corporates | $ | 676.5 |
| | $ | 9.7 |
| | $ | (32.8 | ) | | $ | 653.4 |
| | $ | 653.4 |
| Asset/Mortgage-backed securities | 197.9 |
| | 0.5 |
| | (7.3 | ) | | 191.1 |
| | 191.1 |
| Municipals | 12.1 |
| | — |
| | (0.4 | ) | | 11.7 |
| | 11.7 |
| Government bonds | 1.1 |
| | — |
| | (0.1 | ) | | 1.0 |
| | 1.0 |
| Preferred stock | 12.5 |
| | 0.1 |
| | (0.5 | ) | | 12.1 |
| | 12.1 |
| Total funds withheld receivables with FGL | 900.1 |
| | 10.3 |
| | (41.1 | ) | | 869.3 |
| | 869.3 |
| Funds withheld receivables with third parties | | | | | | | | | | Corporates | 397.5 |
| | 5.9 |
| | (8.8 | ) | | 394.6 |
| | 394.6 |
| Asset/Mortgage-backed securities | 133.9 |
| | 1.7 |
| | (1.8 | ) | | 133.8 |
| | 133.8 |
| Municipals | 49.4 |
| | 1.0 |
| | (0.6 | ) | | 49.8 |
| | 49.8 |
| Government bonds | 82.5 |
| | — |
| | (3.9 | ) | | 78.6 |
| | 78.6 |
| Agency bonds | 6.7 |
| | — |
| | — |
| | 6.7 |
| | 6.7 |
| Total funds withheld receivables with third parties | 670.0 |
| | 8.6 |
| | (15.1 | ) | | 663.5 |
| | 663.5 |
| Total fixed maturity and equity securities included in funds withheld receivables | 1,570.1 |
| | 18.9 |
| | (56.2 | ) | | 1,532.8 |
| | 1,532.8 |
| | | | | | | | | | | Call option receivable from FGL included in funds withheld receivables | 9.3 |
| | 2.9 |
| | — |
| | 12.2 |
| | 12.2 |
| Accrued interest | 16.6 |
| | — |
| | — |
| | 16.6 |
| | 16.6 |
| Net receivables | 39.1 |
| | — |
| | — |
| | 39.1 |
| | 39.1 |
| Policy loans and other | 8.3 |
| | — |
| | — |
| | 8.3 |
| | 8.3 |
| Total funds withheld receivables | $ | 1,643.4 |
| | $ | 21.8 |
| | $ | (56.2 | ) | | $ | 1,609.0 |
| | $ | 1,609.0 |
|
| | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | Cost or Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Carrying Value | Funds withheld receivables with FGL | | | | | | | | | | Corporates | $ | 638.5 |
| | $ | 18.2 |
| | $ | (29.5 | ) | | $ | 627.2 |
| | $ | 627.2 |
| Asset/Mortgage-backed securities | 238.8 |
| | 0.6 |
| | (7.9 | ) | | 231.5 |
| | 231.5 |
| Municipals | 12.1 |
| | 0.7 |
| | — |
| | 12.8 |
| | 12.8 |
| Government bonds | 1.1 |
| | — |
| | — |
| | 1.1 |
| | 1.1 |
| Preferred stock | 8.8 |
| | 0.3 |
| | (0.9 | ) | | 8.2 |
| | 8.2 |
| Total funds withheld receivables with FGL | 899.3 |
| | 19.8 |
| | (38.3 | ) | | 880.8 |
| | 880.8 |
| Funds withheld receivables with third parties | | | | | | | | | | Corporates | 390.0 |
| | 18.8 |
| | (2.7 | ) | | 406.1 |
| | 406.1 |
| Asset/Mortgage-backed securities | 118.7 |
| | 1.9 |
| | (1.7 | ) | | 118.9 |
| | 118.9 |
| Municipals | 49.5 |
| | 4.1 |
| | — |
| | 53.6 |
| | 53.6 |
| Government bonds | 67.7 |
| | 1.3 |
| | (0.2 | ) | | 68.8 |
| | 68.8 |
| Agency bonds | 6.6 |
| | 0.3 |
| | — |
| | 6.9 |
| | 6.9 |
| Total funds withheld receivables with third parties | 632.5 |
| | 26.4 |
| | (4.6 | ) | | 654.3 |
| | 654.3 |
| Total fixed maturity and equity securities included in funds withheld receivables | 1,531.8 |
| | 46.2 |
| | (42.9 | ) | | 1,535.1 |
| | 1,535.1 |
| | | | | | | | | | | Call option receivable from FGL included in funds withheld receivables | 9.8 |
| | 1.5 |
| | — |
| | 11.3 |
| | 11.3 |
| Accrued interest | 17.8 |
| | — |
| | — |
| | 17.8 |
| | 17.8 |
| Net receivables | 77.7 |
| | — |
| | — |
| | 77.7 |
| | 77.7 |
| Policy loans and other | 8.5 |
| | — |
| | — |
| | 8.5 |
| | 8.5 |
| Total funds withheld receivables | $ | 1,645.6 |
| | $ | 47.7 |
| | $ | (42.9 | ) | | $ | 1,650.4 |
| | $ | 1,650.4 |
|
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