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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Traditional life insurance premiums $ 12,877 $ 12,151 $ 11,982
Annuity product charges 89,006 76,189 69,075
Net Investment Income 1,286,923 1,218,780 1,036,106
Change in fair value of derivatives 221,138 (114,728) 168,862
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses (6,454) (18,641) 23,726
OTTI losses on investments:      
Total OTTI losses (5,411) (20,180) (19,544)
Portion of OTTI losses recognized from other comprehensive income (9,521) (13,796) (4,323)
Net OTTI losses recognized in operations (14,932) (33,976) (23,867)
Loss on Extinguishment of Debt 0 0 (292)
Total revenues 1,588,558 1,139,775 1,285,592
Benefits and expenses:      
Insurance policy benefits and change in future policy benefits 8,075 7,870 8,251
Interest Sensitive And Index Product Benefits 818,087 775,757 733,218
Amortization of deferred sales inducements 87,157 71,781 59,873
Change in fair value of embedded derivatives 286,899 (105,194) 130,950
Interest expense on notes payable 28,479 31,633 22,125
Interest expense on subordinated debentures 13,458 13,977 14,906
Interest expense on amounts due under repurchase agreements 0 30 0
Amortization of deferred policy acquisition costs 164,919 143,478 136,388
Other Cost and Expense, Operating 95,495 67,529 114,615
Total benefits and expenses 1,502,569 1,006,861 1,220,326
Income before income taxes 85,989 132,914 65,266
Income Tax Expense 28,191 46,666 22,333
Net Income $ 57,798 $ 86,248 $ 42,933
Earnings Per Share, Basic $ 0.94 $ 1.45 $ 0.73
Earnings Per Share, Diluted $ 0.89 $ 1.37 $ 0.68
Weighted Average Number of Shares Outstanding, Basic 61,258,825 59,482,349 58,506,804
Weighted Average Number of Shares Outstanding, Diluted 65,675,651 63,619,495 64,579,723