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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:                      
Premiums and other considerations                 $ 45,347 $ 76,675 $ 118,912
Annuity product charges                 103,591 89,006 76,189
Net investment income 363,947 354,147 336,143 329,690 321,160 318,594 320,259 326,910 1,383,927 1,286,923 1,218,780
Change in fair value of derivatives 444,985 193,028 64,040 373,962 (48,266) 161,090 (150,847) 259,161 1,076,015 221,138 (114,728)
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 16,364 (2,077) 15,689 10,585 1,471 (1,238) (611) (6,076) 40,561 (6,454) (18,641)
OTTI losses on investments:                      
Total OTTI losses                 (4,964) (5,411) (20,180)
Portion of OTTI losses recognized from other comprehensive income                 (1,270) (9,521) (13,796)
Net OTTI losses recognized in operations 0 (222) (2,775) (3,237) (9,387) (1,686) (978) (2,881) (6,234) (14,932) (33,976)
Loss on extinguishment of debt (30,988) (938) (589) 0         (32,515) 0 0
Total revenues 837,294 580,263 447,570 745,565 304,698 524,173 208,640 614,845 2,610,692 1,652,356 1,246,536
Benefits and expenses:                      
Insurance policy benefits and change in future policy benefits                 53,071 81,481 115,291
Interest sensitive and index product benefits                 1,272,867 808,479 775,097
Amortization of deferred sales inducements                 253,113 87,157 71,781
Change in fair value of embedded derivatives                 133,968 286,899 (105,194)
Interest expense on notes payable                 38,870 28,479 31,633
Interest expense on subordinated debentures                 12,088 13,458 13,977
Amortization of deferred policy acquisition costs                 365,468 164,919 143,478
Other operating costs and expenses                 91,915 95,495 67,559
Total benefits and expenses                 2,221,360 1,566,367 1,113,622
Income before income taxes                 389,332 85,989 132,914
Income tax expense                 136,049 28,191 46,666
Net income $ 50,958 $ 56,181 $ 120,113 $ 26,031 $ 36,397 $ (7,829) $ 18,759 $ 10,471 $ 253,283 $ 57,798 $ 86,248
Earnings per common share $ 0.73 $ 0.86 $ 1.87 $ 0.41 $ 0.58 $ (0.13) $ 0.31 $ 0.18 $ 3.86 $ 0.94 $ 1.45
Earnings per common share - assuming dilution $ 0.65 $ 0.75 $ 1.71 $ 0.38 $ 0.55 $ (0.13) $ 0.30 $ 0.16 $ 3.38 $ 0.89 $ 1.37
Weighted average common shares outstanding: earnings per common share                 65,543,895 [1] 61,258,825 [1] 59,482,349 [1]
Weighted average common shares outstanding: earnings per common share - assuming dilution                 75,040,646 65,675,651 63,619,495
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.