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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income (loss) $ (30,133) $ 88,748
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Interest sensitive and index product benefits 208,792 588,966
Amortization of deferred sales inducements 58,151 86,471
Annuity product charges (77,629) (61,091)
Change in fair value of embedded derivatives 550,160 (168,388)
Change in traditional life and accident and health insurance reserves 2,261 1,699
Policy acquisition costs deferred (304,877) (292,140)
Amortization of deferred policy acquisition costs 100,378 118,986
Provision for depreciation and other amortization 1,745 2,518
Amortization of discounts and premiums on investments (5,342) (6,528)
Realized gains/losses on investments and net OTTI losses recognized in operations 4,716 (8,243)
Change in fair value of derivatives 34,172 53,191
Deferred income taxes (40,257) 3,096
Share-based compensation 3,448 3,347
Change in accrued investment income (15,289) (16,613)
Change in income taxes recoverable/payable (6,078) (12,636)
Change in other assets 706 178
Change in other policy funds and contract claims (23,793) (27,115)
Change in collateral held for derivatives 10,615 (97,273)
Change in other liabilities (41,573) 13,141
Other (7,793) (4,817)
Net cash provided by operating activities 422,380 265,497
Sales, maturities, or repayments of investments:    
Fixed maturity securities - available for sale 1,421,976 886,573
Mortgage loans on real estate 215,904 229,179
Derivative instruments 15,859 452,212
Other investments 11,597 10,930
Acquisition of investments:    
Fixed maturity securities - available for sale (2,542,281) (3,312,404)
Mortgage loans on real estate (229,328) (239,408)
Derivative instruments (289,412) (275,523)
Other investments (6,945) (4,901)
Purchases of property, furniture and equipment (506) (592)
Net cash used in investing activities (1,403,136) (2,253,934)
Financing activities    
Receipts credited to annuity and single premium universal life policyholder account balances 4,181,709 3,095,837
Coinsurance deposits (884,741) (16,800)
Return of annuity policyholder account balances (1,168,302) (1,022,667)
Excess tax benefits realized from share-based compensation plans 441 3,014
Proceeds from issuance of common stock 3,779 5,399
Change in checks in excess of cash balance (2,838) (44,046)
Net cash provided by financing activities 2,130,048 2,020,737
Increase in cash and cash equivalents 1,149,292 32,300
Cash and cash equivalents at beginning of period 397,749 701,514
Cash and cash equivalents at end of period 1,547,041 733,814
Cash paid during period for interest:    
Interest expense 19,390 19,526
Cash paid during period for income taxes:    
Income taxes 29,961 53,401
Non-cash operating activity:    
Deferral of sales inducements 196,207 219,191
Common Stock Issued to Settle Warrants That Have Expired [Member]    
Non-cash financing activities:    
Common stock issued $ 93 $ 0