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Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Premiums and other considerations $ 43,767 $ 36,048 $ 32,623
Annuity product charges 173,579 136,168 118,990
Net investment income 1,849,872 1,692,192 1,531,667
Change in fair value of derivatives 164,219 (336,146) 504,825
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 11,524 10,211 (4,003)
OTTI losses on investments:      
Total OTTI losses (21,349) (25,547) 0
Portion of OTTI losses recognized in (from) other comprehensive income (1,330) 6,011 (2,627)
Net OTTI losses recognized in operations (22,679) (19,536) (2,627)
Loss on extinguishment of debt 0 0 (12,502)
Total revenues 2,220,282 1,518,937 2,168,973
Benefits and expenses:      
Insurance policy benefits and change in future policy benefits 52,483 45,458 41,815
Interest sensitive and index product benefits 725,472 968,053 1,473,700
Amortization of deferred sales inducements 251,166 209,390 131,419
Change in fair value of embedded derivatives 543,465 (464,698) 32,321
Interest expense on notes and loan payable 28,248 28,849 36,370
Interest expense on subordinated debentures 12,958 12,239 12,122
Amortization of deferred policy acquisition costs 374,012 286,114 163,578
Other operating costs and expenses 102,231 96,218 81,584
Total benefits and expenses 2,090,035 1,181,623 1,972,909
Income before income taxes 130,247 337,314 196,064
Income tax expense 47,004 117,484 70,041
Net income $ 83,243 $ 219,830 $ 126,023
Earnings per common share $ 0.98 $ 2.78 $ 1.69
Earnings per common share - assuming dilution $ 0.97 $ 2.72 $ 1.58
Weighted average common shares outstanding: earnings per common share [1] 84,793,151 78,936,828 74,431,087
Weighted average common shares outstanding: earnings per common share - assuming dilution 85,605,169 80,960,568 79,893,600
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.