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Schedule II - Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Balance Sheets |
| December 31,
| 2015 |  | 2014
Assets |  |  |
Cash and cash equivalents | $ | 38,903 |  |  | $ | 61,139 |
Equity securities of subsidiary trusts | 7,415 |  |  | 7,409 |
Receivable from subsidiaries | 207 |  |  | 221 |
Deferred income taxes | 11,645 |  |  | 20,612 |
Federal income tax recoverable, including amount from subsidiaries | 7,747 |  |  | 10,430 |
Other assets, including 2015 notes hedges | 14,041 |  |  | 47,308 |
| 79,958 |  |  | 147,119 |
Investment in and advances to subsidiaries | 2,526,972 |  |  | 2,708,085 |
Total assets | $ | 2,606,930 |  |  | $ | 2,855,204 |
Liabilities and Stockholders' Equity |  |  |
Liabilities: |  |  |
Notes payable | $ | 400,000 |  |  | $ | 421,679 |
Subordinated debentures payable to subsidiary trusts | 246,450 |  |  | 246,243 |
Other liabilities, including 2015 notes embedded derivative | 15,945 |  |  | 47,406 |
Total liabilities | 662,395 |  |  | 715,328 |
Stockholders' equity: |  |  |
Common stock | 81,354 |  |  | 76,062 |
Additional paid-in capital | 630,367 |  |  | 513,218 |
Accumulated other comprehensive income | 201,663 |  |  | 721,401 |
Retained earnings | 1,031,151 |  |  | 829,195 |
Total stockholders' equity | 1,944,535 |  |  | 2,139,876 |
Total liabilities and stockholders' equity | $ | 2,606,930 |  |  | $ | 2,855,204 |
See accompanying note to condensed financial statements. See accompanying Report of Independent Registered Public Accounting Firm.
Condensed Statements of Operations |
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Revenues: |  |  |  |  |
Net investment income | $ | 62 |  |  | $ | 130 |  |  | $ | 130 |
Dividends from subsidiary trusts | 363 |  |  | 360 |  |  | 361 |
Investment advisory fees | 65,957 |  |  | 58,044 |  |  | 44,469 |
Surplus note interest from subsidiary | 4,080 |  |  | 4,080 |  |  | 4,080 |
Change in fair value of derivatives | (8,225 | ) |  | (17,122 | ) |  | 144,012 |
Loss on extinguishment of debt | — |  |  | (12,502 | ) |  | (32,515 | )
Total revenues | 62,237 |  |  | 32,990 |  |  | 160,537 |
Expenses: |  |  |  |  |
Change in fair value of embedded derivatives | (4,516 | ) |  | (15,227 | ) |  | 141,974 |
Interest expense on notes payable | 28,849 |  |  | 36,370 |  |  | 38,870 |
Interest expense on subordinated debentures issued to subsidiary trusts | 12,239 |  |  | 12,122 |  |  | 12,088 |
Other operating costs and expenses | 8,195 |  |  | 7,928 |  |  | 8,163 |
Total expenses | 44,767 |  |  | 41,193 |  |  | 201,095 |
Income (loss) before income taxes and equity in undistributed income of subsidiaries | 17,470 |  |  | (8,203 | ) |  | (40,558 | )
Income tax expense (benefit) | 7,338 |  |  | 664 |  |  | (13,880 | )
Income (loss) before equity in undistributed income of subsidiaries | 10,132 |  |  | (8,867 | ) |  | (26,678 | )
Equity in undistributed income of subsidiaries | 209,698 |  |  | 134,890 |  |  | 279,961 |
Net income | $ | 219,830 |  |  | $ | 126,023 |  |  | $ | 253,283 |
See accompanying note to condensed financial statements. See accompanying Report of Independent Registered Public Accounting Firm.
Condensed Statements of Cash Flows |
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Operating activities |  |  |  |  |
Net income | $ | 219,830 |  |  | $ | 126,023 |  |  | $ | 253,283 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Change in fair value of 2015 notes embedded conversion derivative | (4,516 | ) |  | (15,227 | ) |  | 141,974 |
Provision for depreciation and amortization | 1,613 |  |  | 2,081 |  |  | 2,831 |
Accrual of discount on equity security | (6 | ) |  | (6 | ) |  | (5 | )
Equity in undistributed income of subsidiaries | (209,698 | ) |  | (134,890 | ) |  | (279,961 | )
Accrual of discount on contingent convertible notes | 698 |  |  | 4,417 |  |  | 12,417 |
Change in fair value of derivatives | 6,377 |  |  | 15,619 |  |  | (144,012 | )
Loss on extinguishment of debt | — |  |  | 12,502 |  |  | 32,515 |
Accrual of discount on debenture issued to subsidiary trust | 207 |  |  | 193 |  |  | 181 |
Share-based compensation | 1,026 |  |  | 1,141 |  |  | 1,407 |
ESOP compensation | — |  |  | 82 |  |  | 110 |
Deferred income taxes (benefits) | 8,967 |  |  | 6,439 |  |  | (5,202 | )
Other | — |  |  | (2,235 | ) |  | (3,608 | )
Changes in operating assets and liabilities: |  |  |  |  |
Receivable from subsidiaries | 93 |  |  | 2,208 |  |  | 995 |
Federal income tax recoverable | 2,683 |  |  | 1,121 |  |  | 62 |
Other assets | (4 | ) |  | 378 |  |  | (1,945 | )
Other liabilities | (1,664 | ) |  | (7,256 | ) |  | 20,131 |
Net cash provided by operating activities | 25,606 |  |  | 12,590 |  |  | 31,173 |
Investing activities |  |  |  |  |
Capital contributions to subsidiaries | $ | (120,000 | ) |  | $ | — |  |  | $ | — |
Net cash used in investing activities | (120,000 | ) |  | — |  |  | — |
Financing activities |  |  |  |  |
Financing fees incurred and deferred | $ | — |  |  | $ | (100 | ) |  | $ | (11,942 | )
Proceeds from notes payable | — |  |  | — |  |  | 415,000 |
Repayments of notes payable | (48,152 | ) |  | (219,094 | ) |  | (234,154 | )
Net proceeds from settlement of notes hedges and warrants | 25,775 |  |  | 16,558 |  |  | 22,170 |
Excess tax benefits realized from share-based compensation plans | — |  |  | 184 |  |  | 159 |
Proceeds from issuance of common stock | 112,481 |  |  | 13,681 |  |  | 31,764 |
Dividends paid | (17,946 | ) |  | (15,221 | ) |  | (12,849 | )
Net cash provided by (used in) financing activities | 72,158 |  |  | (203,992 | ) |  | 210,148 |
Increase (decrease) in cash and cash equivalents | (22,236 | ) |  | (191,402 | ) |  | 241,321 |
Cash and cash equivalents at beginning of year | 61,139 |  |  | 252,541 |  |  | 11,220 |
Cash and cash equivalents at end of year | $ | 38,903 |  |  | $ | 61,139 |  |  | $ | 252,541 |
Supplemental disclosures of cash flow information |  |  |  |  |
Cash paid during the year for: |  |  |  |  |
Interest on notes payable | $ | 27,283 |  |  | $ | 31,206 |  |  | $ | 13,758 |
Interest on subordinated debentures | 11,833 |  |  | 11,765 |  |  | 11,850 |
Non-cash financing activity: |  |  |  |  |
Common stock issued in extinguishment of debt | — |  |  | 95,993 |  |  | 117,463 |
Common stock issued to settle warrants that have expired | 48 |  |  | — |  |  | — |
See accompanying note to condensed financial statements. See accompanying Report of Independent Registered Public Accounting Firm.

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