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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net income (loss) $ (44,841) $ 5,903
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest sensitive and index product benefits 97,671 282,825
Amortization of deferred sales inducements 27,479 10,953
Annuity product charges (36,505) (28,682)
Change in fair value of embedded derivatives 265,857 51,213
Increase in traditional life and accident and health insurance reserves (858) (868)
Policy acquisition costs deferred (156,934) (121,822)
Amortization of deferred policy acquisition costs 49,713 14,286
Provision for depreciation and other amortization 875 1,267
Amortization of discounts and premiums on investments (3,103) (1,428)
Realized gains/losses on investments and net OTTI losses recognized in operations 3,007 (4,747)
Change in fair value of derivatives 73,657 30,636
Deferred income taxes (45,276) (22,541)
Share-based compensation 2,234 1,687
Change in accrued investment income (31,229) (31,682)
Change in income taxes recoverable/payable 20,573 22,542
Change in other assets (1,164) (918)
Change in other policy funds and contract claims (12,544) (14,171)
Change in collateral held for derivatives (26,754) (326,248)
Change in other liabilities (38,041) (7,113)
Other (2,205) (1,307)
Net cash provided by (used in) operating activities 141,612 (140,215)
Sales, maturities, or repayments of investments:    
Fixed maturity securities - available for sale 581,647 276,734
Mortgage loans on real estate 84,248 109,846
Derivative instruments 6,747 214,667
Other investments 4,274 7,218
Acquisition of investments:    
Fixed maturity securities - available for sale (1,383,082) (1,434,934)
Mortgage loans on real estate (118,009) (104,793)
Derivative instruments (130,608) (124,948)
Other investments (1,046) (3,385)
Purchases of property, furniture and equipment (244) (295)
Net cash used in investing activities (956,073) (1,059,890)
Financing activities    
Receipts credited to annuity and single premium universal life policyholder account balances 2,089,739 1,307,792
Coinsurance deposits (378,412) (33,061)
Return of annuity policyholder account balances (581,260) (492,242)
Proceeds from amounts due under repurchase agreements 0 15,075
Excess tax benefits realized from share-based compensation plans 440 2,828
Proceeds from issuance of common stock 3,740 4,089
Change in checks in excess of cash balance (10,358) (12,126)
Net cash provided by financing activities 1,123,889 792,355
Increase (decrease) in cash and cash equivalents 309,428 (407,750)
Cash and cash equivalents at beginning of period 397,749 701,514
Cash and cash equivalents at end of period 707,177 293,764
Cash paid during period for interest:    
Interest expense 16,278 16,580
Cash paid during period for income taxes:    
Income taxes 200 114
Non-cash operating activity:    
Deferral of sales inducements 107,673 93,591
Common Stock Issued to Settle Warrants That Have Expired [Member]    
Non-cash financing activities:    
Common stock issued $ 80 $ 0