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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 174,645 $ 83,243 $ 219,830
Adjustments to reconcile net income to net cash provided by operating activities:      
Interest sensitive and index product benefits 2,023,668 725,472 968,053
Amortization of deferred sales inducements 176,612 251,166 209,390
Annuity product charges (200,494) (173,579) (136,168)
Change in fair value of embedded derivatives 919,735 543,465 (464,698)
Increase in traditional life and accident and health insurance reserves (33) 12,724 5,097
Policy acquisition costs deferred (406,641) (543,325) (657,639)
Amortization of deferred policy acquisition costs 255,964 374,012 286,114
Provision for depreciation and other amortization 3,948 3,879 4,610
Amortization of discounts and premiums on investments 15,431 1,070 (8,464)
Loss on extinguishment of debt 18,817 0 0
Realized gains (losses) on investments and net OTTI losses recognized in operations (5,879) 11,155 9,325
Change in fair value of derivatives (1,678,956) (165,727) 334,300
Deferred income taxes (benefits) (46,730) (10,408) 41,916
Share-based compensation 6,464 6,692 7,373
Change in accrued investment income (31,235) (35,669) (35,545)
Change in income taxes recoverable/payable 45,759 18,125 (20,027)
Change in other assets 448 1,812 71
Change in other policy funds and contract claims (23,101) (34,411) (49,092)
Change in collateral held for derivatives 772,181 414,655 (269,474)
Change in other liabilities (84,416) (55,940) 75,794
Other (13,794) (14,089) (15,962)
Net cash provided by operating activities 1,922,393 1,414,322 504,804
Sales, maturities, or repayments of investments:      
Fixed maturity securities - available for sale 1,911,991 2,746,510 1,612,121
Mortgage loans on real estate 351,255 383,763 468,102
Derivative instruments 1,697,948 284,470 640,467
Other investments 10,571 14,045 16,792
Acquisitions of investments:      
Fixed maturity securities - available for sale (5,026,640) (6,883,895) (7,256,137)
Mortgage loans on real estate (535,249) (428,833) (455,286)
Derivative instruments (691,428) (602,349) (588,859)
Other investments (305,575) (11,559) (13,092)
Purchases of property, furniture and equipment (4,809) (1,197) (1,313)
Net cash used in investing activities (2,591,936) (4,499,045) (5,577,205)
Financing activities      
Receipts credited to annuity policyholder account balances 4,152,264 7,092,348 7,051,227
Coinsurance deposits (6,597) (1,317,555) (80,777)
Return of annuity policyholder account balances (2,809,486) (2,535,669) (2,271,950)
Financing fees incurred and deferred (5,817) (1,456) 0
Proceeds from issuance of notes payable 499,650 0 0
Repayment of notes payable (413,252) 0 (48,152)
Repayment of loan payable (100,000) 0 0
Proceeds from issuance of loan payable 0 100,000 0
Net proceeds from settlement of notes hedges and warrants 0 0 25,775
Acquisition of common stock 0 0 (16)
Excess tax benefits realized from share-based compensation plans   527 3,649
Proceeds from issuance of common stock 14,028 139,654 112,481
Change in checks in excess of cash balance 4,680 21,501 (5,727)
Dividends paid (23,148) (21,110) (17,874)
Net cash provided by (used in) financing activities 1,312,322 3,478,240 4,768,636
Increase (decrease) in cash and cash equivalents 642,779 393,517 (303,765)
Cash and cash equivalents at beginning of year 791,266 397,749 701,514
Cash and cash equivalents at end of year 1,434,045 791,266 397,749
Cash paid during the year for interest:      
Interest expense 55,445 39,647 39,118
Cash paid during the year for income taxes:      
Income taxes 142,627 39,066 91,887
Non-cash operating activity:      
Deferral of sales inducements 216,172 353,966 486,924
Non-cash investing and financing activities:      
Mortgage loan on real estate sold 0 0 4,879
Common stock issued to settle warrants that have expired $ 0 $ 93 $ 48