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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 1,920,577 $ 553,023 $ 671,460
Adjustments to reconcile net income to net cash provided by operating activities:      
Interest sensitive and index product benefits 554,871 2,231,567 1,543,270
Amortization of deferred sales inducements 181,970 191,884 438,164
Annuity product charges (230,354) (242,631) (251,227)
Change in fair value of embedded derivatives (2,352,598) (358,302) (1,286,787)
Change in traditional life and accident and health insurance reserves (83,456) 83,734 8,694
Policy acquisition costs deferred (199,075) (309,683) (255,154)
Amortization of deferred policy acquisition costs 284,011 306,370 649,554
Provision for depreciation and other amortization 14,185 5,527 5,199
Amortization of discounts and premiums on investments 2,640 19,861 57,437
Loss on extinguishment of debt 0 0 2,024
Realized gains/losses on investments 47,848 13,242 80,680
Change in fair value of derivatives 1,138,127 (1,348,704) (34,668)
Distributions from equity method investments 4,090 12,409 1,968
Deferred income taxes 490,926 149,431 141,071
Share-based compensation 15,827 24,601 10,215
Change in accrued investment income (52,754) (47,015) 74,744
Change in income taxes recoverable/payable 111,088 (165,724) (1,291)
Change in other assets 2,852 (5,085) (849)
Change in other policy funds and contract claims 279,936 (19,809) (21,865)
Change in market risk benefits, net (22,915) 208,257 0
Change in collateral held for derivatives (851,971) 17,423 (72,413)
Change in collateral held for securities lending 0 0 (495,039)
Change in funds withheld from reinsurers 931,600 3,124,740 0
Change in other liabilities 9,033 (224,171) 38,995
Other (152,639) 12,219 804
Net cash provided by operating activities 2,043,819 4,233,164 1,304,986
Sales, maturities, or repayments of investments:      
Fixed maturity securities, available for sale 9,691,210 4,490,736 8,291,316
Mortgage loans on real estate 1,916,328 862,666 378,812
Derivative instruments 584,055 2,260,959 860,520
Other investments 739,027 368,837 4,324
Acquisitions of investments:      
Fixed maturity securities, available for sale (8,894,629) (9,206,733) (2,429,114)
Mortgage loans on real estate (3,092,385) (2,386,712) (1,121,756)
Real estate investments acquired (724,484) (335,767) 0
Derivative instruments (790,229) (748,061) (730,333)
Other investments (1,842,843) (1,512,123) (105,925)
Purchases of property, furniture and equipment (40,961) (18,109) (13,240)
Net cash provided by (used in) investing activities (2,454,911) (6,224,307) 5,134,604
Financing activities      
Receipts credited to annuity policyholder account balances 3,316,221 5,910,024 3,648,936
Coinsurance deposits (186,637) (3,187,332) 430,644
Return of annuity policyholder account balances (5,257,487) (5,145,193) (4,040,054)
Repayment of loan payable (3,750) 0 0
Proceeds from issuance of loan payable 300,000 0 0
Repayment of subordinated debentures 0 0 (81,450)
Proceeds from issuance of common stock, net 253,978 4,854 338,061
Acquisition of treasury stock (566,567) (99,415) (165,094)
Proceeds from issuance of preferred stock, net 0 0 290,260
Change in checks in excess of cash balance 39,901 (3,210) 3,611
Dividends paid on common stock (30,205) (31,450) (28,859)
Dividends paid on preferred stock (43,675) (43,675) (33,515)
Net cash provided by (used in) financing activities (2,178,221) (2,595,397) 362,540
Increase (decrease) in cash and cash equivalents (2,589,313) (4,586,540) 6,802,130
Cash and cash equivalents at beginning of year 4,508,982 9,095,522 2,293,392
Cash and cash equivalents at end of year 1,919,669 4,508,982 9,095,522
Cash paid during the year for:      
Interest expense 36,289 30,000 31,427
Income taxes 4,873 165,537 4,842
Income tax refunds received 98,644 0 0
Non-cash operating activity:      
Deferral of sales inducements $ 107,691 $ 95,161 $ 93,610