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Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Of Financial Instruments [Abstract]

Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table Text Block

March 31, 2013:									Fair Value Measurements Using:
						Total			Level 1			Level 2			Level 3
Assets:
	Fixed maturity securities – available-for-sale:
		Corporate securities			$	12,441,501		$	65,890		$	10,728,708		$	1,646,903
		Canadian and Canadian provincial governments				3,942,198			--			3,942,198			--
		Residential mortgage-backed securities				1,076,770			--			936,053			140,717
		Asset-backed securities				756,544			--			468,313			288,231
		Commercial mortgage-backed securities				1,698,144			--			1,522,850			175,294
		U.S. government and agencies securities				331,201			259,892			71,309			--
		State and political subdivision securities				313,097			--			270,458			42,639
		Other foreign government supranational and foreign
			government-sponsored enterprises			1,842,204			272,823			1,541,516			27,865
				Total fixed maturity securities – available-for-sale		22,401,659			598,605			19,481,405			2,321,649
	Funds withheld at interest – embedded derivatives					(156,189)			--			--			(156,189)
	Cash equivalents					367,876			367,876			--			--
	Short-term investments					157,281			118,621			16,659			22,001
	Other invested assets:
		Non-redeemable preferred stock				84,111			73,446			10,665			--
		Other equity securities				136,554			136,554			--			--
		Derivatives:
			Interest rate swaps			83,662			--			83,662			--
			Interest rate options			16,054			--			16,054			--
			CPI swaps			945			--			945			--
			Credit default swaps			(3,391)			--			(3,391)			--
			Equity options			54,351			--			54,351			--
			Foreign currency swaps			140			--			140			--
		Collateral				25,790			14,118			11,672			--
		Other				7,205			7,205			--			--
				Total other invested assets		405,421			231,323			174,098			--
		Total			$	23,176,048		$	1,316,425		$	19,672,162		$	2,187,461
Liabilities:
	Interest sensitive contract liabilities – embedded derivatives				$	890,476		$	--		$	--		$	890,476
	Other liabilities:
		Derivatives:
			Interest rate swaps			1,463			--			1,463			--
			Foreign currency forwards			7,014			--			7,014			--
			Credit default swaps			(120)			--			(120)			--
			Equity options			(440)			--			(440)			--
			Foreign currency swaps			10,687			--			10,687			--
		Total			$	909,080		$	--		$	18,604		$	890,476

December 31, 2012:									Fair Value Measurements Using:
						Total			Level 1			Level 2			Level 3
Assets:
	Fixed maturity securities – available-for-sale:
		Corporate securities			$	12,380,071		$	43,544		$	10,667,964		$	1,668,563
		Canadian and Canadian provincial governments				4,049,334			--			4,049,334			--
		Residential mortgage-backed securities				1,042,064			--			948,133			93,931
		Asset-backed securities				691,555			--			459,164			232,391
		Commercial mortgage-backed securities				1,698,903			--			1,531,897			167,006
		U.S. government and agencies securities				265,190			192,780			67,872			4,538
		State and political subdivision securities				302,498			--			259,286			43,212
		Other foreign government, supranational and foreign
			government-sponsored enterprises			1,861,999			297,025			1,536,694			28,280
				Total fixed maturity securities – available-for-sale		22,291,614			533,349			19,520,344			2,237,921
	Funds withheld at interest – embedded derivatives					(243,177)			--			--			(243,177)
	Cash equivalents					575,864			575,864			--			--
	Short-term investments					239,131			178,923			38,177			22,031
	Other invested assets:
		Non-redeemable preferred stock				74,841			64,268			10,573			--
		Other equity securities				147,859			147,859			--			--
		Derivatives:
			Interest rate swaps			104,972			--			104,972			--
			Foreign currency forwards			1,017			--			1,017			--
			CPI swaps			1,446			--			1,446			--
			Credit default swaps			(1,741)			--			(1,741)			--
			Equity options			62,514			--			62,514			--
		Collateral				17,002			1,323			15,679			--
		Other				11,951			11,951			--			--
				Total other invested assets		419,861			225,401			194,460			--
		Total			$	23,283,293		$	1,513,537		$	19,752,981		$	2,016,775
Liabilities:
	Interest sensitive contract liabilities – embedded derivatives				$	912,361		$	--		$	--		$	912,361
	Other liabilities:
		Derivatives:
			Interest rate swaps			196			--			196			--
			Foreign currency forwards			2,105			--			2,105			--
			Credit default swaps			1,953			--			1,953			--
			Foreign currency swaps			27,398			--			27,398			--
		Total			$	944,013		$	--		$	31,652		$	912,361

Fair Value Unobservable Input Measurements [Table Text Block]

March 31, 2013:							Valuation		Unobservable		Range
				Fair Value			Technique(s)		Input		(Weighted Average)
Assets:
	State and political subdivision securities			$	5,364		Market comparable securities		Liquidity premium		1%
	Corporate securities				429,817		Market comparable securities		Liquidity premium		0-2% (1%)
	Short-term investments				22,001		Market comparable securities		Liquidity premium		1%
	Funds withheld at interest- embedded derivatives				(156,189)		Total return swap		Mortality		0-100% (1%)
									Lapse		0-35% (6%)
									Withdrawal		0-5% (3%)
									Own Credit		0-1% (1%)
									Crediting rate		2-4% (3%)
Liabilities:
	Interest sensitive contract liabilities- embedded derivatives- indexed annuities				769,685		Discounted cash flow		Mortality		0-100% (1%)
									Lapse		0-35% (6%)
									Withdrawal		0-5% (3%)
									Option budget projection		2-4% (3%)
March 31, 2013 (continued):							Valuation		Unobservable		Range
				Fair Value			Technique(s)		Input		(Weighted Average)
	Interest sensitive contract liabilities- embedded derivatives- variable annuities				120,791		Discounted cash flow		Mortality		0-100% (2%)
									Lapse		0-25% (5%)
									Withdrawal		0-7% (3%)
									Own Credit		0-1% (1%)
									Long-term volatility		0-27% (13%)

December 31, 2012:							Valuation		Unobservable		Range
				Fair Value			Technique(s)		Input		(Weighted Average)
Assets:
	State and political subdivision securities			$	5,451		Market comparable securities		Liquidity premium		1%
	Corporate securities				450,177		Market comparable securities		Liquidity premium		0-2% (1%)
	Short-term investments				22,031		Market comparable securities		Liquidity premium		1%
	Funds withheld at interest- embedded derivatives				(243,177)		Total return swap		Mortality		0-100% (1%)
									Lapse		0-35% (6%)
									Withdrawal		0-5% (3%)
									Own Credit		0-1% (1%)
									Crediting rate		2-4% (3%)
Liabilities:
	Interest sensitive contract liabilities- embedded derivatives- indexed annuities				740,256		Discounted cash flow		Mortality		0-100% (1%)
									Lapse		0-35% (6%)
									Withdrawal		0-5% (3%)
									Option budget projection		2-4% (3%)
	Interest sensitive contract liabilities- embedded derivatives- variable annuities				172,105		Discounted cash flow		Mortality		0-100% (2%)
									Lapse		0-25% (5%)
									Withdrawal		0-7% (3%)
									Own Credit		0-1% (1%)
									Long-term volatility		0-27% (14%)

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Level Transfers [Table Text Block]

					Three months ended March 31,
					2013						2012
					Transfers from			Transfers from			Transfers from			Transfers from
					Level 1 to			Level 2 to			Level 1 to			Level 2 to
					Level 2			Level 1			Level 2			Level 1
	Fixed maturity securities - available-for-sale:
		Corporate securities			$	--		$	14,012		$	--		$	4
	Total fixed maturity securities				$	--		$	14,012		$	--		$	4

Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Text Block]

For the three months ended March 31, 2013:				Fixed maturity securities - available-for-sale
								Residential						Commercial			U.S.
								mortgage-						mortgage-		Government
				Corporate				backed			Asset-backed			backed		and agencies
				securities				securities			securities			securities			securities
Fair value, beginning of period				$	1,668,563		$	93,931		$	232,391		$	167,006		$	4,538
	Total gains/losses (realized/unrealized)
		Included in earnings, net:
			Investment income, net of related expenses		(2,027)			105			878			502			--
			Investment related gains (losses), net		(1,262)			(173)			(1,747)			(870)			--
			Claims & other policy benefits		--			--			--			--			--
			Interest credited		--			--			--			--			--
			Policy acquisition costs and other insurance expenses		--			--			--			--			--
		Included in other comprehensive income			963			2,514			12,036			12,500			--
	Purchases(1)				74,671			40,538			55,881			--			--
	Sales(1)				(16,278)			(1,599)			(8,297)			(1,604)			--
	Settlements(1)				(65,366)			(4,923)			(5,877)			(2,240)			--
	Transfers into Level 3				3,773			10,324			2,966			--			--
	Transfers out of Level 3				(16,134)			--			--			--			(4,538)
Fair value, end of period				$	1,646,903		$	140,717		$	288,231		$	175,294		$	--
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
		Included in earnings, net:
			Investment income, net of related expenses	$	(2,027)		$	105		$	882		$	501		$	--
			Investment related gains (losses), net		(202)			--			--			--			--
			Claims & other policy benefits		--			--			--			--			--
			Interest credited		--			--			--			--			--
			Policy acquisition costs and other insurance expenses		--			--			--			--			--

For the three months ended March 31, 2013 (continued):				Fixed maturity securities
				available-for-sale
								Other foreign
					State			government,			Funds withheld						Interest sensitive
					and political			supranational and			at interest-						contract liabilities
					subdivision			foreign government-			embedded			Short-term			embedded
					securities			sponsored enterprises			derivative			investments			derivatives
Fair value, beginning of period					$	43,212		$	28,280		$	(243,177)		$	22,031		$	(912,361)
	Total gains/losses (realized/unrealized)
		Included in earnings, net:
			Investment income, net of related expenses			9			(75)			--			(3)			--
			Investment related gains (losses), net			(4)			--			86,988			--			51,314
			Claims & other policy benefits			--			--			--			--			--
			Interest credited			--			--			--			--			(32,996)
			Policy acquisition costs and other insurance expenses			--			--			--			--			--
		Included in other comprehensive income				(553)			(340)			--			(27)			--
	Purchases(1)					--			--			--			--			(13,860)
	Sales(1)					--			--			--			--			--
	Settlements(1)					(25)			--			--			--			17,427
	Transfers into Level 3					--			--			--			--			--
	Transfers out of Level 3					--			--			--			--			--
Fair value, end of period					$	42,639		$	27,865		$	(156,189)		$	22,001		$	(890,476)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
		Included in earnings, net:
			Investment income, net of related expenses		$	9		$	(75)		$	--		$	(4)		$	--
			Investment related gains (losses), net			--			--			86,988			--			50,123
			Claims & other policy benefits			--			--			--			--			--
			Interest credited			--			--			--			--			(50,424)
			Policy acquisition costs and other insurance expenses			--			--			--			--			--
(1)			The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

For the three months ended March 31, 2012:				Fixed maturity securities - available-for-sale
								Residential						Commercial			State
								mortgage-						mortgage-			and political
				Corporate				backed			Asset-backed			backed			subdivision
				securities				securities			securities			securities			securities
Fair value, beginning of period				$	974,169		$	81,655		$	193,492		$	115,976		$	10,373
	Total gains/losses (realized/unrealized)
		Included in earnings, net:
			Investment income, net of related expenses		30			110			249			588			(5)
			Investment related gains (losses), net		(585)			279			(670)			(12,075)			(4)
			Claims & other policy benefits		--			--			--			--			--
			Interest credited		--			--			--			--			--
			Policy acquisition costs and other insurance expenses		--			--			--			--			--
		Included in other comprehensive income			(682)			1,580			6,696			13,521			406
	Purchases (1)				21,161			244			--			--			--
	Sales(1)				(9,408)			(8,004)			--			--			--
	Settlements(1)				(20,875)			(1,800)			(3,865)			--			(23)
	Transfers into Level 3				17,444			--			1,080			10,846			--
	Transfers out of Level 3				(3,583)			(19,629)			(50,620)			(10,178)			(5,508)
Fair value, end of period				$	977,671		$	54,435		$	146,362		$	118,678		$	5,239
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
		Included in earnings, net:
			Investment income, net of related expenses	$	30		$	106		$	249		$	588		$	(5)
			Investment related gains (losses), net		(727)			(108)			(607)			(12,075)			--
			Claims & other policy benefits		--			--			--			--			--
			Interest credited		--			--			--			--			--
			Policy acquisition costs and other insurance expenses		--			--			--			--			--

For the three months ended March 31, 2012 (continued):				Funds withheld						Reinsurance			Interest sensitive
				at interest-			Other invested			ceded receivable-			contract liabilities
				embedded			assets- other			embedded			embedded
				derivatives			equity securities			derivatives			derivatives
Fair value, beginning of period				$	(361,456)		$	11,489		$	4,945		$	(1,028,241)
	Total gains/losses (realized/unrealized)
		Included in earnings, net:
			Investment income, net of related expenses		--			--			--			--
			Investment related gains (losses), net		(9,428)			--			--			146,375
			Claims & other policy benefits		--			--			--			2,278
			Interest credited		--			--			--			(21,193)
			Policy acquisition costs and other insurance expenses		--			--			(1,329)			--
		Included in other comprehensive income			--			338			--			--
	Purchases(1)				--			--			--			(23,590)
	Sales(1)				--			--			--			--
	Settlements(1)				--			--			(102)			21,089
	Transfers into Level 3				--			--			--			--
	Transfers out of Level 3				--			--			--			--
Fair value, end of period				$	(370,884)		$	11,827		$	3,514		$	(903,282)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
		Included in earnings, net:
			Investment income, net of related expenses	$	--		$	--		$	--		$	--
			Investment related gains (losses), net		(9,428)			--			--			144,624
			Claims & other policy benefits		--			--			--			2,037
			Interest credited		--			--			--			(42,107)
			Policy acquisition costs and other insurance expenses		--			--			(1,188)			--
(1)			The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Financial Instruments Carrying Amounts And Estimated Fair Value [Text Block]

March 31, 2013							Estimated Fair		Fair Value Measurement Using:
				Carrying Value			Value			Level 1		Level 2			Level 3
Assets:
	Mortgage loans on real estate		$	2,325,191		$	2,429,358		$	--		$	--		$	2,429,358
	Policy loans			1,245,812			1,245,812			--			1,245,812			--
	Funds withheld at interest(1)			5,851,967			6,363,220			--			--			6,363,220
	Cash and cash equivalents(2)			633,965			633,965			633,965			--			--
	Short-term investments(2)			23,426			23,426			23,426			--			--
	Other invested assets(2)			552,420			589,979			--			32,250			557,729
	Accrued investment income			230,269			230,269			--			230,269			--
Liabilities:
	Interest-sensitive contract liabilities(1)		$	11,385,069		$	11,805,623		$	--		$	--		$	11,805,623
	Long-term debt			1,815,392			2,025,511			--			--			2,025,511
	Collateral finance facility			491,987			368,625			--			--			368,625

December 31, 2012:							Estimated Fair		Fair Value Measurement Using:
				Carrying Value		Value				Level 1		Level 2			Level 3
Assets:
	Mortgage loans on real estate		$	2,300,587		$	2,426,688		$	--		$	--		$	2,426,688
	Policy loans			1,278,175			1,278,175			--			1,278,175			--
	Funds withheld at interest(1)			5,837,359			6,362,324			--			--			6,362,324
	Cash and cash equivalents(2)			684,028			684,028			684,028			--			--
	Short-term investments(2)			48,951			48,951			48,951			--			--
	Other invested assets(2)			596,336			626,358			--			32,250			594,108
	Accrued investment income			201,344			201,344			--			201,344			--
Liabilities:
	Interest-sensitive contract liabilities(1)		$	11,566,962		$	11,926,339		$	--		$	--		$	11,926,339
	Long-term debt			1,815,253			2,014,062			--			--			2,014,062
	Collateral finance facility			652,010			456,050			--			--			456,050
(1)		Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are embedded derivatives and are measured at fair value on a recurring basis.
(2)																	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are measured at fair value on a recurring basis.

X

- Definition

This element represents the disclosure related to transfers of assets and liabilities between level 1 and level 2 for items measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition.

+ References

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of asset and liability.

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- Definition

Tabular disclosure of the quantitative information regarding significant unobservable inputs used in Level 3 fair value measurements that are developed by the company presented by asset and liability class.

+ References

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Carrying amounts and estimated fair value of financial instruments.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 820

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 1

-Section 50

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

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