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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income $ 1,239,400 $ 380,855
Adjustments to reconcile net income to net cash provided by operating activities:    
Interest sensitive and index product benefits 729,407 2,106,590
Amortization of deferred sales inducements 361,775 93,283
Annuity product charges (168,688) (182,321)
Change in fair value of embedded derivatives (2,695,007) (545,104)
Change in traditional life and accident and health insurance reserves (21,494) 19,487
Policy acquisition costs deferred (146,498) (243,711)
Amortization of deferred policy acquisition costs 550,962 185,329
Provision for depreciation and other amortization 12,845 3,985
Amortization of discounts and premiums on investments 637 18,438
Realized gains/losses on investments 62,259 2,764
Distributions from equity method investments 5,098 10,697
Change in fair value of derivatives 1,160,371 (826,484)
Deferred income taxes 295,252 (12,276)
Share-based compensation 10,708 19,265
Change in accrued investment income (71,552) (15,288)
Change in income taxes recoverable/payable 62,748 40,340
Change in other assets (39,988) (2,003)
Change in other policy funds and contract claims 35,328 (15,971)
Change in collateral held for derivatives (905,799) (170,371)
Change in funds withheld from reinsurers 629,251 0
Change in other liabilities 174,671 (141,230)
Other (156,591) (88,983)
Net cash provided by operating activities 1,125,095 637,291
Sales, maturities, or repayments of investments:    
Fixed maturity securities, available for sale 5,136,412 3,295,774
Mortgage loans on real estate 1,572,420 500,140
Derivative instruments 577,772 1,741,357
Other investments 440,079 12,008
Acquisitions of investments:    
Fixed maturity securities, available for sale (5,238,533) (2,283,419)
Mortgage loans on real estate (2,408,977) (621,002)
Real estate investments acquired (611,881) (259,262)
Derivative instruments (586,804) (547,006)
Other investments (1,123,295) (422,070)
Purchases of property, furniture and equipment (34,215) (15,060)
Net cash provided by (used in) investing activities (2,277,022) 1,401,460
Financing activities    
Receipts credited to annuity policyholder account balances 2,416,692 4,879,283
Coinsurance deposits (241,746) 683,829
Return of annuity policyholder account balances (3,724,169) (3,861,391)
Repayment of loan payable (1,875) 0
Proceeds from issuance of loan payable 300,000 0
Acquisition of treasury stock (522,468) (99,415)
Proceeds from issuance of common stock, net 252,861 4,854
Change in checks in excess of cash balance 4,538 (23,884)
Dividends paid on preferred stock (32,756) (32,756)
Net cash provided by (used in) financing activities (1,548,923) 1,550,520
Increase (decrease) in cash and cash equivalents (2,700,850) 3,589,271
Cash and cash equivalents at beginning of period 4,508,982 9,095,522
Cash and cash equivalents at end of period 1,808,132 12,684,793
Cash paid during period for interest:    
Interest expense 16,250 15,000
Income taxes 4,873 80,169
Income tax refunds received 17,187 0
Non-cash operating activity:    
Deferral of sales inducements $ 74,074 $ 71,683