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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Premiums and other considerations $ 14,595 $ 11,032 $ 27,808 $ 18,696
Annuity product charges 63,759 63,438 123,841 122,987
Net investment income 499,320 543,704 996,510 1,117,022
Change in fair value of derivatives 500,880 327,662 897,185 (614,212)
Net realized losses on investments (3,114) (25,888) (7,697) (46,224)
Loss on extinguishment of debt 0 0 0 (2,024)
Total revenues 1,075,440 919,948 2,037,647 596,245
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 15,828 13,331 32,252 23,403
Interest sensitive and index product benefits 812,981 240,992 1,289,576 641,211
Amortization of deferred sales inducements (12,520) (75,178) 110,455 (1,587)
Change in fair value of embedded derivatives 273,713 1,126,935 (8,700) (123,126)
Interest expense on notes payable 6,394 6,388 12,787 12,773
Interest expense on subordinated debentures 1,326 1,321 2,652 2,909
Amortization of deferred policy acquisition costs (16,906) (119,889) 186,917 813
Other operating costs and expenses 65,050 41,951 120,915 85,577
Total benefits and expenses 1,145,866 1,235,851 1,746,854 641,973
Income (loss) before income taxes (70,426) (315,903) 290,793 (45,728)
Income tax expense (benefit) (15,732) (68,474) 62,803 (41,246)
Net income (loss) (54,694) (247,429) 227,990 (4,482)
Less: Preferred stock dividends 10,919 5,950 21,838 12,561
Net income (loss) available to common stockholders $ (65,613) $ (253,379) $ 206,152 $ (17,043)
Earnings (loss) per common share $ (0.69) $ (2.76) $ 2.16 $ (0.19)
Earnings (loss) per common share - assuming dilution $ (0.69) $ (2.76) $ 2.15 $ (0.19)
Weighted average common shares outstanding: earnings (loss) per common share 94,800,734 91,803,312 95,265,212 91,723,814
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 95,378,663 92,026,853 95,794,584 92,023,966