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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income (loss) $ 80,885 $ (30,133)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Interest sensitive and index product benefits 891,735 208,792
Amortization of deferred sales inducements 96,020 58,151
Annuity product charges (92,175) (77,629)
Change in fair value of embedded derivatives 399,143 550,160
Change in traditional life and accident and health insurance reserves 122 2,261
Policy acquisition costs deferred (221,909) (304,877)
Amortization of deferred policy acquisition costs 139,225 100,378
Provision for depreciation and other amortization 1,961 1,745
Amortization of discounts and premiums on investments 8,644 (5,342)
Realized gains (losses) on investments and net OTTI losses recognized in operations (5,121) 4,716
Change in fair value of derivatives (653,939) 34,172
Deferred income taxes (40,965) (40,257)
Loss on extinguishment of debt 428 0
Share-based compensation 4,154 3,448
Change in accrued investment income (18,709) (15,289)
Change in income taxes recoverable/payable 10,522 (6,078)
Change in other assets 433 706
Change in other policy funds and contract claims (14,824) (23,793)
Change in collateral held for derivatives 289,258 10,615
Change in other liabilities (36,848) (41,573)
Other (6,960) (7,793)
Net cash provided by operating activities 831,080 422,380
Sales, maturities, or repayments of investments:    
Fixed maturity securities - available for sale 970,752 1,421,976
Mortgage loans on real estate 185,406 215,904
Derivative instruments 750,345 15,859
Other investments 7,511 11,597
Acquisitions of investments:    
Fixed maturity securities - available for sale (2,680,972) (2,542,281)
Mortgage loans on real estate (257,050) (229,328)
Derivative instruments (320,583) (289,412)
Other investments (6,950) (6,945)
Purchases of property, furniture and equipment (2,494) (506)
Net cash used in investing activities (1,354,035) (1,403,136)
Financing activities    
Receipts credited to annuity and single premium universal life policyholder account balances 2,243,180 4,181,709
Coinsurance deposits 30,938 (884,741)
Return of annuity policyholder account balances (1,401,086) (1,168,302)
Financing fees incurred and deferred (5,823) 0
Proceeds from issuance of notes payable 499,650 0
Repayment of debt (100,000) 0
Net proceeds from amounts due under repurchase agreements 61,673 0
Excess tax benefits realized from share-based compensation plans 0 441
Proceeds from issuance of common stock 4,618 3,779
Change in checks in excess of cash balance (26,548) (2,838)
Net cash provided by financing activities 1,306,602 2,130,048
Increase in cash and cash equivalents 783,647 1,149,292
Cash and cash equivalents at beginning of period 791,266 397,749
Cash and cash equivalents at end of period 1,574,913 1,547,041
Cash paid during period for interest:    
Interest expense 22,739 19,390
Cash paid during period for income taxes:    
Income taxes 71,526 29,961
Non-cash operating activity:    
Deferral of sales inducements 128,092 196,207
Non-cash financing activity:    
Common stock issued to settle warrants that have expired $ 0 $ 93