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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Operating activities          
Net income $ 355,146 $ 763,289 [1] $ 199,255 $ 1,442,754 [2]  
Adjustments to reconcile net income to net cash provided by operating activities:          
Interest sensitive and index product benefits     180,298 428,263 [3]  
Amortization of deferred sales inducements 46,951 44,696 [1] 93,552 89,781 [1] $ 181,970
Annuity product charges (71,642) (55,514) [1] (134,233) (107,869) [1]  
Change in fair value of embedded derivatives 213,764 (885,984) [1] 618,204 (2,279,633) [3]  
Change in traditional life and accident and health insurance reserves     (8,664) (57,896) [3]  
Policy acquisition costs deferred     (205,683) (105,290) [3]  
Amortization of deferred policy acquisition costs 68,476 72,485 [1] 136,711 145,454 [3] 284,011
Provision for depreciation and other amortization     3,921 10,264 [3]  
Amortization of discounts and premiums on investments     31,785 (4,711) [3]  
Realized gains/losses on investments 24,679 33,272 [1] 52,466 46,399 [3]  
Distributions from equity method investments     40,845 2,204 [3]  
Change in fair value of derivatives     (288,629) 983,700 [3]  
Deferred income taxes     59,643 381,964 [3]  
Share-based compensation     20,877 6,420 [3]  
Change in accrued investment income     9,455 (47,442) [3]  
Change in income taxes recoverable/payable     (180) 31,345 [3]  
Change in other assets     (204,847) (29,655) [3]  
Change in other policy funds and contract claims     (313,591) 293,303 [3]  
Change in market risk benefits, net     36,864 (116,966) [3]  
Change in collateral held for derivatives     619,829 (1,051,808) [3]  
Change in funds withheld from reinsurers     943,237 213,493 [3]  
Change in other liabilities     1,364,474 78,642 [3]  
Other     (8,098) (40,346) [3]  
Net cash provided by operating activities     3,247,491 312,370 [3]  
Sales, maturities, or repayments of investments:          
Fixed maturity securities, available for sale     5,105,068 3,456,943 [3]  
Mortgage loans on real estate     556,786 1,082,235 [3]  
Real estate investments sold     1,842 0 [3]  
Derivative instruments     124,339 373,481 [3]  
Other investments     969,525 354,056 [3]  
Acquisitions of investments:          
Fixed maturity securities, available for sale     (3,175,094) (4,883,166) [3]  
Mortgage loans on real estate     (1,091,795) (1,664,966) [3]  
Real estate investments acquired     (231,575) (361,820) [3]  
Derivative instruments     (472,354) (393,783) [3]  
Other investments     (1,191,870) (589,861) [3]  
Purchases of property, furniture and equipment     (13,567) (8,327) [3]  
Net cash provided by (used in) investing activities     581,305 (2,635,208) [3]  
Financing activities          
Receipts credited to annuity policyholder account balances     3,371,142 1,666,306 [3]  
Coinsurance deposits     (512,172) 45,108 [3]  
Return of annuity policyholder account balances     (3,249,645) (2,449,267) [3]  
Repayment of loan payable     (3,749) 0 [3]  
Acquisition of treasury stock     (296,125) (368,380) [3]  
Proceeds from issuance of common stock, net     (867) 252,842 [3]  
Change in checks in excess of cash balance     (34,554) (23,690) [3]  
Dividends paid on preferred stock     (21,838) (21,838) [3]  
Net cash used in financing activities     (747,808) (898,919) [3]  
Increase (decrease) in cash and cash equivalents     3,080,988 (3,221,757) [3]  
Cash and cash equivalents at beginning of period     1,919,669 4,508,982 [3] 4,508,982 [3]
Cash and cash equivalents at end of period $ 5,000,657 $ 1,287,225 [3] 5,000,657 1,287,225 [3] 1,919,669
Cash paid during period for:          
Interest expense     18,026 1,250 [3]  
Income taxes     1,899 0 [3]  
Income tax refunds received     53 0 [3]  
Non-cash operating activity:          
Deferral of sales inducements     $ 182,123 $ 23,446 [3] $ 107,692
[1] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.
[2] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.
[3] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.