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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 83,243 $ 219,830 $ 126,023
Adjustments to reconcile net income to net cash provided by operating activities:      
Interest sensitive and index product benefits 725,472 968,053 1,473,700
Amortization of deferred sales inducements 251,166 209,390 131,419
Annuity product charges (173,579) (136,168) (118,990)
Change in fair value of embedded derivatives 543,465 (464,698) 32,321
Increase in traditional life and accident and health insurance reserves 12,724 5,097 2,385
Policy acquisition costs deferred (543,325) (657,639) (426,882)
Amortization of deferred policy acquisition costs 374,012 286,114 163,578
Provision for depreciation and other amortization 3,879 4,610 9,490
Amortization of discounts and premiums on investments 1,070 (8,464) (14,960)
Loss on extinguishment of debt 0 0 12,502
Realized gains (losses) on investments and net OTTI losses recognized in operations 11,155 9,325 6,630
Change in fair value of derivatives (165,727) 334,300 (506,328)
Deferred income taxes (benefits) (10,408) 41,916 (46,504)
Share-based compensation 6,692 7,373 3,544
Change in accrued investment income (35,669) (35,545) (24,918)
Change in income taxes recoverable/payable 18,125 (20,027) (19,405)
Change in other assets 1,812 71 (2,771)
Change in other policy funds and contract claims (34,411) (49,092) (60,931)
Change in collateral held for derivatives 414,655 (269,474) 27,839
Change in other liabilities (55,940) 75,794 (51,008)
Other (14,089) (15,962) (8,948)
Net cash provided by operating activities 1,414,322 504,804 707,786
Sales, maturities, or repayments of investments:      
Fixed maturity securities—available for sale 2,746,510 1,612,121 1,490,906
Mortgage loans on real estate 383,763 468,102 453,937
Derivative instruments 284,470 640,467 1,169,874
Other investments 14,045 16,792 23,165
Acquisitions of investments:      
Fixed maturity securities—available for sale (6,883,895) (7,256,137) (5,191,781)
Mortgage loans on real estate (428,833) (455,286) (327,654)
Derivative instruments (602,349) (588,859) (492,296)
Other investments (11,559) (13,092) (72,548)
Purchases of property, furniture and equipment (1,197) (1,313) (1,352)
Net cash used in investing activities (4,499,045) (5,577,205) (2,947,749)
Financing activities      
Receipts credited to annuity and single premium universal life policyholder account balances 7,092,348 7,051,227 4,160,005
Coinsurance deposits (1,317,555) (80,777) 109,184
Return of annuity policyholder account balances (2,535,669) (2,271,950) (2,025,203)
Financing fees incurred and deferred (1,456) 0 (100)
Repayment of notes payable 0 (48,152) (219,094)
Proceeds from issuance of debt 100,000 0 0
Net proceeds from settlement of notes hedges and warrants 0 25,775 16,558
Acquisition of common stock 0 (16) 0
Excess tax benefits realized from share-based compensation plans 527 3,649 5,184
Proceeds from issuance of common stock 139,654 112,481 13,681
Change in checks in excess of cash balance 21,501 (5,727) (1,252)
Dividends paid (21,110) (17,874) (15,015)
Net cash provided by (used in) financing activities 3,478,240 4,768,636 2,043,948
Increase (decrease) in cash and cash equivalents 393,517 (303,765) (196,015)
Cash and cash equivalents at beginning of year 397,749 701,514 897,529
Cash and cash equivalents at end of year 791,266 397,749 701,514
Cash paid during the year for interest:      
Interest expense 39,647 39,118 42,989
Cash paid during the year for income taxes:      
Income taxes 39,066 91,887 132,754
Non-cash operating activity:      
Deferral of sales inducements 353,966 486,924 330,079
Non-cash investing and financing activities:      
Real estate acquired in satisfaction of mortgage loans 0 0 14,555
Mortgage loan on real estate sold 0 4,879 0
Common Stock Issued in Extinguishment of Debt [Member]      
Non-cash investing and financing activities:      
Common stock issued 0 0 95,993
Common Stock Issued to Settle Warrants That Have Expired [Member]      
Non-cash investing and financing activities:      
Common stock issued $ 93 $ 48 $ 0