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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value

					March 31, 2013										December 31, 2012
						Notional		Carrying Value/Fair Value								Notional		Carrying Value/Fair Value
						Amount			Assets			Liabilities				Amount			Assets			Liabilities
Derivatives not designated as
	hedging instruments:
	Interest rate swaps				$	1,566,403		$	99,860		$	15,642			$	2,195,059		$	123,085		$	17,867
	Interest rate options					240,000			16,054			--				--			--			--
	Financial futures					113,046			--			--				127,877			--			--
	Foreign currency forwards					70,000			--			7,014				74,400			1,017			2,105
	Consumer price index swaps					85,332			945			--				85,135			1,446			--
	Credit default swaps					716,700			2,160			5,431				714,000			2,228			5,922
	Equity options					812,494			54,791			--				696,776			62,514			--
	Synthetic guaranteed investment contracts					3,185,035			--			--				2,018,073			--			--
	Embedded derivatives in:
		Modified coinsurance or funds
			withheld arrangements			--			--			156,189				--			--			243,177
		Indexed annuity products				--			--			769,685				--			--			740,256
		Variable annuity products				--			--			120,791				--			--			172,105
	Total non-hedging derivatives					6,789,010			173,810			1,074,752				5,911,320			190,290			1,181,432
Derivatives designated as
	hedging instruments:
	Interest rate swaps					55,098			254			2,273				57,275			344			786
	Foreign currency swaps					632,921			1,172			11,719				629,512			--			27,398
	Total hedging derivatives					688,019			1,426			13,992				686,787			344			28,184
Total derivatives					$	7,477,029		$	175,236		$	1,088,744			$	6,598,107		$	190,634		$	1,209,616

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Three months ended March 31,
	2013			2012
Accumulated other comprehensive income (loss), balance beginning of period	$	403		$	(828)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges		1,863			323
Amounts reclassified to investment income		(305)			(357)
Accumulated other comprehensive income (loss), balance end of period	$	1,961		$	(862)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Derivatives in Cash Flow Hedging Relationships		Amount of Gains (Losses) Deferred in AOCI on Derivatives			Amount and Location of Gains (Losses) Reclassified from AOCI into Income (Loss)						Amount and Location of Gains (Losses) Recognized in Income (Loss) on Derivatives
		(Effective Portion)			(Effective Portion)						(Ineffective Portion and Amounts Excluded from Effectiveness Testing)
					Investment Related Gains (Losses)			Investment Income			Investment Related Gains (Losses)			Investment Income
For the three months ended March 31, 2013:
Interest rate swaps		$	1,863		$	--		$	305		$	(17)		$	--
For the three months ended March 31, 2012:
Interest rate swaps		$	323		$	--		$	357		$	(24)		$	--

Derivatives Hedging Instruments In Net Investment Hedging Relationships

			Derivative Gains (Losses) Deferred in AOCI
			For the three months ended March 31,
Type of NIFO Hedge (1) (2)			2013			2012
Foreign currency swaps			$	10,922		$	(10,645)
(1)	There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from accumulated other comprehensive income (loss) into investment income during the periods presented.
(2)	There was no ineffectiveness recognized for the Company's hedges of net investments in foreign operations.

Derivative Instruments Gain Loss By Income Statement Location

A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s income statement for the three months ended March 31, 2013 and 2012 is as follows (dollars in thousands):
							Gain (Loss) for the Three Months Ended
							March 31,
Type of Non-hedging Derivative				Income Statement Location of Gain (Loss)			2013			2012
Interest rate swaps				Investment related gains (losses), net			$	(22,265)		$	(47,352)
Interest rate options				Investment related gains (losses), net				1,982			--
Financial futures				Investment related gains (losses), net				(6,881)			(17,409)
Foreign currency forwards				Investment related gains (losses), net				(5,659)			(1,608)
CPI swaps				Investment related gains (losses), net				(871)			(802)
Credit default swaps				Investment related gains (losses), net				3,904			11,813
Equity options				Investment related gains (losses), net				(30,623)			(37,983)
Embedded derivatives in:
	Modco or funds withheld arrangements			Investment related gains (losses), net				90,257			(9,428)
	Indexed annuity products			Policy acquisition costs and other insurance
					expenses			--			(998)
	Indexed annuity products			Interest credited				(32,996)			(18,741)
	Variable annuity products			Investment related gains (losses), net				51,314			146,375
Total non-hedging derivatives							$	48,162		$	23,867

Disclosure Of Credit Derivatives [Text Block]

			March 31, 2013									December 31, 2012
Rating Agency Designation of Referenced Credit Obligations(1)			Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps(2)			Weighted Average Years to Maturity(3)		Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps(2)			Weighted Average Years to Maturity(3)
AAA/AA-/A+/A/A-
Single name credit default swaps			$	(1,630)		$	124,500		5.7		$	(2,077)		$	124,500		5.9
Credit default swaps referencing indices				--			--		--			--			--		--
	Subtotal			(1,630)			124,500		5.7			(2,077)			124,500		5.9
BBB+/BBB/BBB-
Single name credit default swaps				(2,030)			138,200		5.7			(2,345)			135,500		5.5
Credit default swaps referencing indices				565			430,000		4.7			937			430,000		5.0
	Subtotal			(1,465)			568,200		5.0			(1,408)			565,500		5.1
BB+
Single name credit default swaps				(110)			6,000		4.2			(222)			6,000		4.5
Credit default swaps referencing indices				--			--		--			--			--		--
	Subtotal			(110)			6,000		4.2			(222)			6,000		4.5
Total			$	(3,205)		$	698,700		5.1		$	(3,707)		$	696,000		5.2
(1)	The rating agency designations are based on ratings from Standard and Poor's ("S&P").
(2)	Assumes the value of the referenced credit obligations is zero.
(3)	The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Changes In Estimated Fair Value Related To Embedded Derivatives

		Three months ended
		March 31,
		2013			2012
Embedded derivatives in modco or funds withheld arrangements included
	in investment related gains	$	90,257		$	(9,428)
After the associated amortization of DAC and taxes, the related amounts included in net income			21,624			1,933
Embedded derivatives in variable annuity contracts included in investment related gains			51,314			146,375
After the associated amortization of DAC and taxes, the related amounts included in net income			12,192			15,082
Amounts related to embedded derivatives in equity-indexed annuities included
	in benefits and expenses		(32,996)			(19,739)
After the associated amortization of DAC and taxes, the related amounts included in net income			(29,550)			13,870

Credit Risk

			March 31, 2013			December 31, 2012
Estimated fair value of derivatives in net asset position			$	133,157		$	136,558
	Cash provided as collateral(1)			6,250			27,867
	Securities pledged to counterparties as collateral(2)			14,118			1,565
	Cash pledged from counterparties as collateral(3)			(126,329)			(136,414)
	Securities pledged from counterparties as collateral(4)			(17,664)			(22,458)
Net credit exposure			$	9,532		$	7,118
Margin account related to exchange-traded futures(5)			$	3,529		$	5,605
(1)		Consists of receivable from counterparty, included in other assets.
(2)		Included in other invested assets, primarily consists of U.S. Treasury securities.
(3)		Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities.
(4)		Consists of U.S. Treasury securities.
(5)		Included in cash and cash equivalents.

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This table presents the entity's net position for over-the-counter derivatives after considering the effect of netting agreements and presents the collateral that the entity holds or has posted in relation to over-the-counter derivatives at the reporting date.

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The location and amount of gains and losses reported in the statements of income on derivative instruments not designated or qualifying as hedging instruments, including embedded derivatives, by income statement location.

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Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note).

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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