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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income $ 186,054 $ 94,806
Adjustments to reconcile net income to net cash provided by operating activities:    
Interest sensitive and index product benefits 802,431 1,114,381
Amortization of deferred sales inducements 152,278 96,676
Annuity product charges (99,066) (86,477)
Change in fair value of embedded derivatives (583,112) (21,652)
Increase in traditional life and accident and health insurance reserves 3,024 396
Policy acquisition costs deferred (464,451) (312,070)
Amortization of deferred policy acquisition costs 186,871 113,949
Provision for depreciation and other amortization 3,733 7,578
Amortization of discounts and premiums on investments (10,730) (12,500)
Realized gains/losses on investments and net OTTI losses recognized in operations (4,173) 8,197
Change in fair value of derivatives 404,085 (359,626)
Deferred income taxes 23,640 (39,823)
Loss on extinguishment of debt 0 10,551
Share-based compensation 5,332 1,142
Change in accrued investment income (48,963) (38,574)
Change in income taxes recoverable/payable 4,794 (6,384)
Change in other assets 1,053 (2,359)
Change in other policy funds and contract claims (36,876) (47,257)
Change in collateral held for derivatives (469,752) 10,048
Change in other liabilities 24,766 (40,310)
Other (9,843) (3,339)
Net cash provided by operating activities 71,095 487,353
Sales, maturities, or repayments of investments:    
Fixed maturity securities - available for sale 1,280,927 1,233,408
Mortgage loans on real estate 354,391 316,841
Derivative instruments 563,125 886,556
Other investments 11,716 16,515
Acquisition of investments:    
Fixed maturity securities - available for sale (5,041,263) (3,998,902)
Mortgage loans on real estate (362,123) (227,244)
Derivative instruments (427,763) (355,473)
Other investments (5,206) (68,891)
Purchases of property, furniture and equipment (913) (777)
Net cash used in investing activities (3,627,109) (2,197,967)
Financing activities    
Receipts credited to annuity and single premium universal life policyholder account balances 4,913,473 3,016,856
Coinsurance deposits 21,623 41,740
Return of annuity policyholder account balances (1,638,598) (1,410,682)
Financing fees incurred and deferred 0 (100)
Repayment of notes payable (48,152) (119,677)
Net proceeds from settlement of notes hedges and warrants 25,775 10,401
Proceeds from amounts due under repurchase agreements 0 81,189
Acquisition of common stock 16 0
Excess tax benefits realized from share-based compensation plans 3,281 4,312
Proceeds from issuance of common stock 111,274 10,038
Change in checks in excess of cash balance (10,546) (32,192)
Net cash provided by financing activities 3,378,114 1,601,885
Decrease in cash and cash equivalents (177,900) (108,729)
Cash and cash equivalents at beginning of period 701,514 897,529
Cash and cash equivalents at end of period 523,614 788,800
Cash paid during period for interest:    
Interest expense 36,136 39,090
Cash paid during period for income taxes:    
Income taxes 66,541 91,675
Non-cash operating activity:    
Deferral of sales inducements 346,410 241,277
Non-cash investing and financing activities:    
Real estate acquired in satisfaction of mortgage loans 0 11,755
Common stock issued in extinguishment of debt $ 0 $ 56,292