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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income $ 219,830 $ 126,023 $ 253,283
Adjustments to reconcile net income to net cash provided by operating activities:      
Interest sensitive and index product benefits 968,053 1,473,700 1,272,867
Amortization of deferred sales inducements 209,390 131,419 253,113
Annuity product charges (136,168) (118,990) (103,591)
Change in fair value of embedded derivatives (464,698) 32,321 133,968
Increase in traditional life and accident and health insurance reserves 5,097 2,385 14,997
Policy acquisition costs deferred (657,639) (426,882) (425,800)
Amortization of deferred policy acquisition costs 286,114 163,578 365,468
Provision for depreciation and other amortization 4,610 9,490 18,375
Amortization of discounts and premiums on investments (8,464) (14,960) 6,861
Loss on extinguishment of debt 0 12,502 32,515
Realized gains/losses on investments and net OTTI losses recognized in operations 9,325 6,630 (34,327)
Change in fair value of derivatives 334,300 (506,328) (1,076,015)
Deferred income taxes (benefits) 41,916 (46,504) 3,013
Share-based compensation 7,373 3,544 10,476
Change in accrued investment income (35,545) (24,918) (39,808)
Change in income taxes recoverable/payable (20,027) (19,405) 5,397
Change in other assets 71 (2,771) 1,113
Change in other policy funds and contract claims (49,092) (60,931) (47,445)
Change in collateral held for derivatives (269,474) 27,839 236,702
Change in other liabilities 75,794 (51,008) (11,435)
Other (15,962) (8,948) (7,059)
Net cash provided by operating activities 504,804 707,786 862,668
Sales, maturities, or repayments of investments:      
Fixed maturity securities—available for sale 1,612,121 1,490,906 3,456,719
Equity securities—available for sale 0 0 46,674
Mortgage loans on real estate 468,102 453,937 539,240
Derivative instruments 640,467 1,169,874 971,432
Other investments 16,792 23,165 24,050
Acquisitions of investments:      
Fixed maturity securities—available for sale (7,256,137) (5,191,781) (7,962,150)
Mortgage loans on real estate (455,286) (327,654) (505,953)
Derivative instruments (588,859) (492,296) (419,345)
Other investments (13,092) (72,548) (29,015)
Purchases of property, furniture and equipment (1,313) (1,352) (948)
Net cash used in investing activities (5,577,205) (2,947,749) (3,879,296)
Financing activities      
Receipts credited to annuity and single premium universal life policyholder account balances 7,051,227 4,160,005 4,160,346
Coinsurance deposits (80,777) 109,184 25,729
Return of annuity policyholder account balances (2,271,950) (2,025,203) (1,763,913)
Financing fees incurred and deferred 0 (100) (11,942)
Proceeds from notes payable 0 0 415,000
Repayment of notes payable (48,152) (219,094) (234,154)
Net proceeds from settlement of notes hedges and warrants 25,775 16,558 22,170
Acquisition of common stock (16) 0 0
Excess tax benefits realized from share-based compensation plans 3,649 5,184 4,043
Proceeds from issuance of common stock 112,481 13,681 31,764
Change in checks in excess of cash balance (5,727) (1,252) 9,212
Dividends paid (17,874) (15,015) (12,643)
Net cash provided by (used in) financing activities 4,768,636 2,043,948 2,645,612
Increase (decrease) in cash and cash equivalents (303,765) (196,015) (371,016)
Cash and cash equivalents at beginning of year 701,514 897,529 1,268,545
Cash and cash equivalents at end of year 397,749 701,514 897,529
Cash paid during the year for interest:      
Interest expense 39,118 42,989 25,608
Cash paid during the year for income taxes:      
Income taxes 91,887 132,754 128,225
Non-cash operating activity:      
Deferral of sales inducements 486,924 330,079 337,787
Non-cash investing and financing activities:      
Real estate acquired in satisfaction of mortgage loans 0 14,555 8,217
Mortgage loan on real estate sold 4,879 0 0
Common Stock Issued in Extinguishment of Debt [Member]      
Non-cash investing and financing activities:      
Common stock issued 0 95,993 117,463
Common Stock Issued to Settle Warrants That Have Expired [Member]      
Non-cash investing and financing activities:      
Common stock issued $ 48 $ 0 $ 0