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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Premiums and other considerations $ 13,213 $ 7,664
Annuity product charges 60,082 59,549
Net investment income 497,190 573,318
Change in fair value of derivatives 396,305 (941,874)
Net realized losses on investments (4,583) (20,336)
Loss on extinguishment of debt 0 (2,024)
Total revenues 962,207 (323,703)
Benefits and expenses:    
Insurance policy benefits and change in future policy benefits 16,424 10,072
Interest sensitive and index product benefits 476,595 400,219
Amortization of deferred sales inducements 122,975 73,591
Change in fair value of embedded derivatives (282,413) (1,250,061)
Interest expense on notes payable 6,393 6,385
Interest expense on subordinated debentures 1,326 1,588
Amortization of deferred policy acquisition costs 203,823 120,702
Other operating costs and expenses 55,865 43,626
Total benefits and expenses 600,988 (593,878)
Income before income taxes 361,219 270,175
Income tax expense 78,535 27,228
Net income 282,684 242,947
Less: Preferred stock dividends 10,919 6,611
Net income available to common stockholders $ 271,765 $ 236,336
Earnings per common share $ 2.84 $ 2.58
Earnings per common share - assuming dilution $ 2.82 $ 2.57
Weighted average common shares outstanding: earnings per common share 95,734,851 91,644,315
Weighted average common shares outstanding: earnings per common share - assuming dilution 96,215,665 92,021,079