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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Traditional life insurance premiums $ 2,913 $ 3,248 $ 5,611 $ 6,470
Annuity product charges 23,511 21,908 44,992 41,301
Net Investment Income 336,143 320,259 665,833 647,169
Change in fair value of derivatives 64,040 (150,847) 438,002 108,314
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 15,689 (611) 26,274 (6,687)
OTTI losses on investments:        
Total OTTI losses (2,775) (375) (4,964) (2,156)
Portion of OTTI losses recognized from other comprehensive income 0 (603) (1,048) (1,703)
Net OTTI losses recognized in operations (2,775) (978) (6,012) (3,859)
Gains (Losses) on Extinguishment of Debt (589) 0 (589) 0
Total revenues 438,932 192,979 1,174,111 792,708
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 2,106 2,250 3,841 4,367
Interest Sensitive And Index Product Benefits 336,025 142,733 561,834 281,856
Amortization of deferred sales inducements 120,536 25,940 149,367 42,650
Change in fair value of embedded derivatives (408,409) (80,989) (45,137) 278,077
Interest expense on notes payable 6,780 7,072 14,028 14,067
Interest expense on subordinated debentures 3,018 3,563 6,027 7,149
Amortization of deferred policy acquisition costs 169,270 44,848 215,500 79,132
Other Cost and Expense, Operating 24,851 18,902 44,371 40,615
Total benefits and expenses 254,177 164,319 949,831 747,913
Income before income taxes 184,755 28,660 224,280 44,795
Income Tax Expense 64,642 9,901 78,136 15,565
Net Income $ 120,113 $ 18,759 $ 146,144 $ 29,230
Earnings Per Share, Basic $ 1.87 $ 0.31 $ 2.29 $ 0.49
Earnings Per Share, Diluted $ 1.71 $ 0.30 $ 2.09 $ 0.46
Weighted Average Number of Shares Outstanding, Basic 64,254,387 59,943,337 63,786,577 59,821,937
Weighted Average Number of Shares Outstanding, Diluted 70,382,065 64,253,628 69,882,240 64,229,656