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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues:    
Premiums and other considerations $ 7,345 $ 6,997
Annuity product charges 36,505 28,682
Net investment income 450,826 399,669
Change in fair value of derivatives (74,065) (31,100)
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 2,687 4,879
OTTI losses on investments:    
Total OTTI losses (6,018) (132)
Portion of OTTI losses recognized in (from) other comprehensive income 324 0
Net OTTI losses recognized in operations (5,694) (132)
Total revenues 417,604 408,995
Benefits and expenses:    
Insurance policy benefits and change in future policy benefits 9,109 9,220
Interest sensitive and index product benefits 97,671 282,825
Amortization of deferred sales inducements 27,479 10,953
Change in fair value of embedded derivatives 265,857 51,213
Interest expense on notes payable 6,880 7,339
Interest expense on subordinated debentures 3,168 3,016
Amortization of deferred policy acquisition costs 49,713 14,286
Other operating costs and expenses 26,830 21,122
Total benefits and expenses 486,707 399,974
Income (loss) before income taxes (69,103) 9,021
Income tax expense (benefit) (24,262) 3,118
Net income (loss) $ (44,841) $ 5,903
Earnings (loss) per common share $ (0.55) $ 0.08
Earnings (loss) per common share - assuming dilution $ (0.55) $ 0.07
Weighted average common shares outstanding: earnings (loss) per common share [1] 82,128,911 77,041,704
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 82,961,495 79,118,034
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan.