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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Premiums and other considerations $ 9,402 $ 7,345
Annuity product charges 43,572 36,505
Net investment income 485,597 450,826
Change in fair value of derivatives 386,533 (74,065)
Net realized gains on investments, excluding other than temporary impairment (OTTI) losses 2,338 2,687
OTTI losses on investments:    
Total OTTI losses 0 (6,018)
Portion of OTTI losses recognized in (from) other comprehensive income (141) 324
Net OTTI losses recognized in operations (141) (5,694)
Total revenues 927,301 417,604
Benefits and expenses:    
Insurance policy benefits and change in future policy benefits 11,875 9,109
Interest sensitive and index product benefits 419,139 97,671
Amortization of deferred sales inducements 62,325 27,479
Change in fair value of embedded derivatives 224,170 265,857
Interest expense on notes and loan payable 7,722 6,880
Interest expense on subordinated debentures 3,336 3,168
Amortization of deferred policy acquisition costs 89,678 49,713
Other operating costs and expenses 27,579 26,830
Total benefits and expenses 845,824 486,707
Income (loss) before income taxes 81,477 (69,103)
Income tax expense (benefit) 27,538 (24,262)
Net income (loss) $ 53,939 $ (44,841)
Earnings (loss) per common share $ 0.61 $ (0.55)
Earnings (loss) per common share - assuming dilution $ 0.60 $ (0.55)
Weighted average common shares outstanding: earnings (loss) per common share [1] 88,647,078 82,128,911
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 89,975,612 82,961,495
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan.