American National (ANG-PB) 10-Q 10 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2014	Nov. 03, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'AMERICAN EQUITY INVESTMENT LIFE HOLDING CO	'
Entity Central Index Key	'0001039828	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	75,597,780

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fixed maturity securities:	'	'
Available for sale, at fair value (amortized cost: 2014 - $29,301,310; 2013 - $26,527,730)	$31,023,646	$26,610,447
Held for investment, at amortized cost (fair value: 2014 - $71,499; 2013 - $60,840)	76,387	76,255
Equity securities, available for sale, at fair value (cost: 2014 - $7,507; 2013 - $7,503)	7,756	7,778
Mortgage loans on real estate	2,474,306	2,581,082
Derivative instruments	744,033	856,050
Other investments	283,924	215,042
Total investments	34,610,052	30,346,654
Cash and cash equivalents	788,800	897,529
Coinsurance deposits	3,080,282	2,999,618
Accrued investment income	340,215	301,641
Deferred policy acquisition costs	2,132,926	2,426,652
Deferred sales inducements	1,641,558	1,875,880
Deferred income taxes	76,269	301,856
Other assets	283,427	471,669
Total assets	42,953,529	39,621,499
Liabilities:	'	'
Policy benefit reserves	38,790,456	35,789,655
Other policy funds and contract claims	377,341	418,033
Notes payable	475,295	549,958
Subordinated debentures	246,193	246,050
Amounts due under repurchase agreements	81,189	0
Income taxes payable	3,769	10,153
Other liabilities	1,004,210	1,222,963
Total liabilities	40,978,453	38,236,812
Stockholders' equity:	'	'
Preferred stock, par value $1 per share, 2,000,000 shares authorized, 2014 and 2013 - no shares issued and outstanding	0	0
Common stock, par value $1 per share, 200,000,000 shares authorized; issued and outstanding: 2014 - 74,269,593 shares (excluding 4,527,167 treasury shares); 2013 - 70,535,404 shares (excluding 4,876,735 treasury shares)	74,270	70,535
Additional paid-in capital	541,882	550,400
Unallocated common stock held by ESOP; 2013 - 58,618 shares	0	-631
Accumulated other comprehensive income	545,931	46,196
Retained earnings	812,993	718,187
Total stockholders' equity	1,975,076	1,384,687
Total liabilities and stockholders' equity	$42,953,529	$39,621,499

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parentheticals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Fixed maturity securities:	'	'
Available for sale, at fair value, amortized cost	$29,301,310	$26,527,730
Held for investment, at amortized cost, fair value	71,499	60,840
Equity securities, available for sale, at fair value, cost	$7,507	$7,503
Stockholders' equity:	'	'
Preferred stock, par value (dollars per share)	$1	$1
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (dollars per share)	$1	$1
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	74,269,593	70,535,404
Common stock, shares outstanding	74,269,593	70,535,404
Common stock, shares held in treasury	4,527,167	4,876,735
Unallocated common stock, shares held by ESOP	'	58,618

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Revenues:	'		'		'		'
Premiums and other considerations	$6,043		$9,874		$22,497		$34,508
Annuity product charges	31,958		26,451		86,477		71,443
Net investment income	386,931		354,147		1,127,818		1,019,980
Change in fair value of derivatives	39,218		193,028		358,594		631,030
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses	-3,190		-2,077		-6,134		24,197
OTTI losses on investments:	'		'		'		'
Total OTTI losses	0		0		0		-4,964
Portion of OTTI losses recognized from other comprehensive income	-564		-222		-2,063		-1,270
Net OTTI losses recognized in operations	-564		-222		-2,063		-6,234
Loss on extinguishment of debt	0		-938		-10,551		-1,527
Total revenues	460,396		580,263		1,576,638		1,773,397
Benefits and expenses:	'		'		'		'
Insurance policy benefits and change in future policy benefits	9,109		11,264		30,191		39,792
Interest sensitive and index product benefits	429,415		325,740		1,114,381		881,910
Amortization of deferred sales inducements	40,661		34,625		96,676		183,992
Change in fair value of embedded derivatives	-195,206		36,224		-21,652		-8,913
Interest expense on notes payable	8,741		12,957		28,126		26,985
Interest expense on subordinated debentures	3,044		3,034		9,076		9,061
Amortization of deferred policy acquisition costs	39,671		50,034		113,949		265,534
Other operating costs and expenses	20,616		20,658		60,588		65,029
Total benefits and expenses	356,051		494,536		1,431,335		1,463,390
Income before income taxes	104,345		85,727		145,303		310,007
Income tax expense	36,530		29,546		50,497		107,682
Net income	$67,815		$56,181		$94,806		$202,325
Earnings per common share	$0.90		$0.86		$1.28		$3.15
Earnings per common share - assuming dilution	$0.85		$0.75		$1.19		$2.79
Weighted average common shares outstanding: earnings per common share	75,082,852	[1]	65,129,442	[1]	74,030,290	[1]	64,239,117	[1]
Weighted average common shares outstanding: earnings per common share - assuming dilution	79,467,110		74,559,716		79,477,258		72,459,076
[1]	Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Net income	$67,815		$56,181		$94,806		$202,325
Other comprehensive income (loss):	'		'		'		'
Change in net unrealized investment gains/losses (1)	-15,590	[1]	-123,269	[1]	768,414	[1]	-793,140	[1]
Noncredit component of OTTI losses (1)	9	[1]	239	[1]	703	[1]	586	[1]
Reclassification of unrealized investment gains/losses to net income (1)	-18	[1]	-903	[1]	-294	[1]	-12,189	[1]
Other comprehensive income (loss) before income tax	-15,599		-123,933		768,823		-804,743
Income tax effect related to other comprehensive income (loss)	5,459		43,378		-269,088		281,661
Other comprehensive income (loss)	-10,140		-80,555		499,735		-523,082
Comprehensive income (loss)	$57,675		($24,374)		$594,541		($320,757)
[1]	Net of related adjustments to amortization of deferred sales inducements and deferred policy acquisition costs.

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Unallocated Common Stock Held By ESOP [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]
In Thousands, unless otherwise specified
Stockholders' equity at beginning of period at Dec. 31, 2012	$1,720,237	$61,751	$496,715	($2,583)	$686,807	$477,547
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net income	202,325	'	'	'	'	202,325
Other comprehensive income (loss)	-523,082	'	'	'	-523,082	'
Allocation of common stock by ESOP, including excess income tax benefits	1,392	'	432	960	'	'
Share-based compensation, including excess income tax benefits	7,492	'	7,492	'	'	'
Issuance of common stock under compensation plans, including excess income tax benefits	26,418	2,755	23,663	'	'	'
Extinguishment of convertible senior notes, net of tax, including shares of common stock issued upon conversion	1,764	217	1,547	'	'	'
Warrants to be settled in cash	-41,878	'	-41,878	'	'	'
Stockholders' equity at end of period at Sep. 30, 2013	1,394,668	64,723	487,971	-1,623	163,725	679,872
Stockholders' equity at beginning of period at Dec. 31, 2013	1,384,687	70,535	550,400	-631	46,196	718,187
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net income	94,806	'	'	'	'	94,806
Other comprehensive income (loss)	499,735	'	'	'	499,735	'
Allocation of common stock by ESOP, including excess income tax benefits	1,352	'	721	631	'	'
Share-based compensation, including excess income tax benefits	4,548	'	4,548	'	'	'
Issuance of common stock under compensation plans, including excess income tax benefits	10,944	1,291	9,653	'	'	'
Extinguishment of convertible senior notes, net of tax, including shares of common stock issued upon conversion	9,459	2,444	7,015	'	'	'
Warrants settled in cash	-30,455	'	-30,455	'	'	'
Warrants to be settled in cash	0	'	'	'	'	'
Stockholders' equity at end of period at Sep. 30, 2014	$1,975,076	$74,270	$541,882	$0	$545,931	$812,993

Consolidated_Statements_of_Cha1

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Shares of common stock allocated by ESOP, including excess income tax benefits	58,618	89,150
Shares of common stock issued under compensation plans, including excess income tax benefits	1,290,732	2,755,270
Shares of common stock issued upon extinguishment of convertible senior notes	2,443,457	216,729

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities	'	'
Net income	$94,806	$202,325
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Interest sensitive and index product benefits	1,114,381	881,910
Amortization of deferred sales inducements	96,676	183,992
Annuity product charges	-86,477	-71,443
Change in fair value of embedded derivatives	-21,652	-8,913
Change in traditional life and accident and health insurance reserves	396	11,327
Policy acquisition costs deferred	-312,070	-313,560
Amortization of deferred policy acquisition costs	113,949	265,534
Provision for depreciation and other amortization	7,578	14,285
Amortization of discounts and premiums on investments	-12,500	7,920
Realized gains/losses on investments and net OTTI losses recognized in operations	8,197	-17,963
Change in fair value of derivatives	-359,626	-631,030
Deferred income taxes	-39,823	9,965
Loss on extinguishment of debt	10,551	589
Share-based compensation	1,142	5,942
Change in accrued investment income	-38,574	-45,721
Change in income taxes recoverable/payable	-6,384	23,040
Change in other assets	-2,359	-36
Change in other policy funds and contract claims	-47,257	-31,679
Change in collateral held for derivatives	10,048	115,666
Change in other liabilities	-40,310	5,474
Other	-3,339	-3,200
Net cash provided by operating activities	487,353	604,424
Sales, maturities, or repayments of investments:	'	'
Fixed maturity securities - available for sale	1,233,408	2,955,734
Equity securities - available for sale	0	44,829
Mortgage loans on real estate	316,841	402,233
Derivative instruments	886,556	662,336
Other investments	16,515	18,244
Acquisition of investments:	'	'
Fixed maturity securities - available for sale	-3,998,902	-6,691,800
Mortgage loans on real estate	-227,244	-383,074
Derivative instruments	-355,473	-302,135
Other investments	-68,891	-24,302
Purchases of property, furniture and equipment	-777	-621
Net cash used in investing activities	-2,197,967	-3,318,556
Financing activities	'	'
Receipts credited to annuity and single premium universal life policyholder account balances	3,016,856	3,073,490
Coinsurance deposits	41,740	20,355
Return of annuity policyholder account balances	-1,410,682	-1,226,967
Financing fees incurred and deferred	-100	-9,045
Proceeds from notes payable	0	415,000
Repayment of notes payable	-119,677	-43,243
Net proceeds from settlement of notes hedges and warrants	10,401	0
Proceeds from amounts due under repurchase agreements	81,189	148,180
Excess tax benefits realized from share-based compensation plans	4,312	1,993
Proceeds from issuance of common stock	10,038	25,900
Change in checks in excess of cash balance	-32,192	-25,145
Net cash provided by financing activities	1,601,885	2,380,518
Decrease in cash and cash equivalents	-108,729	-333,614
Cash and cash equivalents at beginning of period	897,529	1,268,545
Cash and cash equivalents at end of period	788,800	934,931
Cash paid during period for interest:	'	'
Interest expense	39,090	19,136
Cash paid during period for income taxes:	'	'
Income taxes	91,675	72,900
Non-cash operating activity:	'	'
Deferral of sales inducements	241,277	250,322
Non-cash investing and financing activities:	'	'
Real estate acquired in satisfaction of mortgage loans	11,755	6,285
Common stock issued in extinguishment of debt	56,292	3,367
Warrants to be settled in cash	$0	$41,878

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Significant Accounting Policies
	Consolidation and Basis of Presentation
	The accompanying consolidated financial statements of American Equity Investment Life Holding Company (“we”, “us” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and notes required by GAAP for complete financial statements. The consolidated financial statements reflect all adjustments, consisting only of normal recurring items, which are necessary to present fairly our financial position and results of operations on a basis consistent with the prior audited consolidated financial statements. Operating results for the three and nine month periods ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ended December 31, 2014. All significant intercompany accounts and transactions have been eliminated. The preparation of financial statements requires the use of management estimates. For further information related to a description of areas of judgment and estimates and other information necessary to understand our financial position and results of operations, refer to the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2013.
	As previously reported in the notes to audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2013, we identified certain classification errors related to the presentation of premiums and other considerations, insurance policy benefits and change in future policy benefits and interest sensitive and index product benefits related to life contingent immediate annuities in our audited consolidated statements of operations. Consistent with that presentation, we have revised the unaudited consolidated statements of operations for the three and nine months ended September 30, 2013. The changes resulted in increases to premiums and other considerations of $7.4 million and $26.4 million and insurance policy benefits and change in future policy benefits of $9.6 million and $34.3 million, as well as decreases to interest sensitive and index product benefits of $2.2 million and $7.9 million for the three and nine months ended September 30, 2013, respectively. These changes had no impact on the consolidated balance sheets, net income or stockholders' equity.
	Reclassifications have been made to prior period unaudited consolidated financial statements to conform to the September 30, 2014 presentation.
	Adopted Accounting Pronouncements
	There were no accounting pronouncements that were adopted during the current period.
	New Accounting Pronouncements
	In June 2014, the Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") that requires that a performance target in a share based payment arrangement that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This ASU will be effective for us on January 1, 2016, and early adoption is permitted, but it is not expected to have a material impact on our consolidated financial statements.

Fair_Values_of_Financial_Instr

Fair Values of Financial Instruments	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Values of Financial Instruments	'
	Fair Values of Financial Instruments
	The following sets forth a comparison of the carrying amounts and fair values of our financial instruments:
		September 30, 2014						December 31, 2013
		Carrying			Fair Value			Carrying			Fair Value
		Amount						Amount
		(Dollars in thousands)
	Assets
	Fixed maturity securities:
	Available for sale	$	31,023,646		$	31,023,646		$	26,610,447		$	26,610,447
	Held for investment	76,387			71,499			76,255			60,840
	Equity securities, available for sale	7,756			7,756			7,778			7,778
	Mortgage loans on real estate	2,474,306			2,536,716			2,581,082			2,615,410
	Derivative instruments	744,033			744,033			856,050			856,050
	Other investments	261,590			267,414			192,198			193,343
	Cash and cash equivalents	788,800			788,800			897,529			897,529
	Coinsurance deposits	3,080,282			2,733,971			2,999,618			2,669,432
	Interest rate caps	3,644			3,644			6,103			6,103
	Interest rate swap	—			—			712			712
	2015 notes hedges	39,061			39,061			107,041			107,041
	Counterparty collateral	198,434			198,434			315,824			315,824
	Liabilities
	Policy benefit reserves	38,453,572			32,240,023			35,453,166			29,670,827
	Single premium immediate annuity (SPIA) benefit reserves	376,980			389,508			417,625			430,835
	Notes payable	475,295			546,548			549,958			699,435
	Subordinated debentures	246,193			238,530			246,050			234,959
	Amounts due under repurchase agreements	81,189			81,189			—			—
	2015 notes embedded conversion derivative	39,061			39,061			107,041			107,041
	Interest rate swap	1,252			1,252			—			—
	Fair value is the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. The objective of a fair value measurement is to determine that price for each financial instrument at each measurement date. We meet this objective using various methods of valuation that include market, income and cost approaches.
	We categorize our financial instruments into three levels of fair value hierarchy based on the priority of inputs used in determining fair value. The hierarchy defines the highest priority inputs (Level 1) as quoted prices in active markets for identical assets or liabilities. The lowest priority inputs (Level 3) are our own assumptions about what a market participant would use in determining fair value such as estimated future cash flows. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. We categorize financial assets and liabilities recorded at fair value in the consolidated balance sheets as follows:
	Level 1—	Quoted prices are available in active markets for identical financial instruments as of the reporting date. We do not adjust the quoted price for these financial instruments, even in situations where we hold a large position and a sale could reasonably impact the quoted price.
	Level 2—	Quoted prices in active markets for similar financial instruments, quoted prices for identical or similar financial instruments in markets that are not active; and models and other valuation methodologies using inputs other than quoted prices that are observable.
	Level 3—	Models and other valuation methodologies using significant inputs that are unobservable for financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in Level 3 are securities for which no market activity or data exists and for which we used discounted expected future cash flows with our own assumptions about what a market participant would use in determining fair value.
	Transfers of securities among the levels occur at times and depend on the type of inputs used to determine fair value of each security. There were no transfers between levels during any period presented.
	Our assets and liabilities which are measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 are presented below based on the fair value hierarchy levels:
		Total			Quoted			Significant			Significant
		Fair Value			Prices in			Other			Unobservable
					Active			Observable			Inputs
					Markets			Inputs			(Level 3)
					(Level 1)			(Level 2)
		(Dollars in thousands)
	September 30, 2014
	Assets
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	37,711		$	4,204		$	33,507		$	—
	United States Government sponsored agencies	1,331,076			—			1,331,076			—
	United States municipalities, states and territories	3,608,592			—			3,608,592			—
	Foreign government obligations	192,519			—			192,519			—
	Corporate securities	20,516,410			25			20,516,385			—
	Residential mortgage backed securities	1,802,186			—			1,801,660			526
	Commercial mortgage backed securities	2,618,928			—			2,618,928			—
	Other asset backed securities	916,224			372			915,852			—
	Equity securities, available for sale: finance, insurance and real estate	7,756			—			7,756			—
	Derivative instruments	744,033			—			744,033			—
	Cash and cash equivalents	788,800			788,800			—			—
	Interest rate caps	3,644			—			3,644			—
	2015 notes hedges	39,061			—			39,061			—
	Counterparty collateral	198,434			—			198,434			—
		$	32,805,374		$	793,401		$	32,011,447		$	526
	Liabilities
	2015 notes embedded conversion derivative	$	39,061		$	—		$	39,061		$	—
	Interest rate swap	1,252			—			1,252			—
Fixed index annuities - embedded derivatives	5,261,554			—			—			5,261,554
	$	5,301,867		$	—		$	40,313		$	5,261,554
December 31, 2013
Assets
Fixed maturity securities:
Available for sale:
United States Government full faith and credit	$	42,925		$	4,805		$	38,120		$	—
United States Government sponsored agencies	1,194,289			—			1,194,289			—
United States municipalities, states and territories	3,306,743			—			3,306,743			—
Foreign government obligations	91,557			—			91,557			—
Corporate securities	17,233,037			20			17,233,017			—
Residential mortgage backed securities	1,971,960			—			1,970,584			1,376
Commercial mortgage backed securities	1,735,460			—			1,735,460			—
Other asset backed securities	1,034,476			359			1,034,117			—
Equity securities, available for sale: finance, insurance and real estate	7,778			—			7,778			—
Derivative instruments	856,050			—			856,050			—
Cash and cash equivalents	897,529			897,529			—			—
Interest rate caps	6,103			—			6,103			—
Interest rate swap	712			—			712			—
2015 notes hedges	107,041			—			107,041			—
Counterparty collateral	315,824			—			315,824			—
	$	28,801,484		$	902,713		$	27,897,395		$	1,376
Liabilities
2015 notes embedded conversion derivative	$	107,041		$	—		$	107,041		$	—
Fixed index annuities - embedded derivatives	4,406,163			—			—			4,406,163
	$	4,513,204		$	—		$	107,041		$	4,406,163
The following methods and assumptions were used in estimating the fair values of financial instruments during the periods presented in these consolidated financial statements.
Fixed maturity securities and equity securities
The fair values of fixed maturity securities and equity securities in an active and orderly market are determined by utilizing independent pricing services. The independent pricing services incorporate a variety of observable market data in their valuation techniques, including:
•	reported trading prices,
•	benchmark yields,
•	broker-dealer quotes,
•	benchmark securities,
•	bids and offers,
•	credit ratings,
•	relative credit information, and
•	other reference data.
The independent pricing services also take into account perceived market movements and sector news, as well as a security's terms and conditions, including any features specific to that issue that may influence risk and marketability. Depending on the security, the priority of the use of observable market inputs may change as some observable market inputs may not be relevant or additional inputs may be necessary.
The independent pricing services provide quoted market prices when available. Quoted prices are not always available due to market inactivity. When quoted market prices are not available, the third parties use yield data and other factors relating to instruments or securities with similar characteristics to determine fair value for securities that are not actively traded. We generally obtain one value from our primary external pricing service. In situations where a price is not available from this service, we may obtain further quotes or prices from additional parties as needed. In addition, for our callable United States Government sponsored agencies, we obtain multiple broker quotes and take the average of the broker prices received. Market indices of similar rated asset class spreads are considered for valuations and broker indications of similar securities are compared. Inputs used by the broker include market information, such as yield data and other factors relating to instruments or securities with similar characteristics. Valuations and quotes obtained from third party commercial pricing services are non-binding and do not represent quotes on which one may execute the disposition of the assets.
We validate external valuations at least quarterly through a combination of procedures that include the evaluation of methodologies used by the pricing services, analytical reviews and performance analysis of the prices against trends, and maintenance of a securities watch list. Additionally, as needed we utilize discounted cash flow models or perform independent valuations on a case-by-case basis using inputs and assumptions similar to those used by the pricing services. Although we do identify differences from time to time as a result of these validation procedures, we did not make any significant adjustments as of September 30, 2014 and December 31, 2013.
Mortgage loans on real estate
Mortgage loans on real estate are not measured at fair value on a recurring basis. The fair values of mortgage loans on real estate are calculated using discounted expected cash flows using current competitive market interest rates currently being offered for similar loans. The fair values of impaired mortgage loans on real estate that we have considered to be collateral dependent are based on the fair value of the real estate collateral (based on appraised values) less estimated costs to sell. The inputs utilized to determine fair value of all mortgage loans are unobservable market data (competitive market interest rates and appraised property values); therefore, fair value of mortgage loans falls into Level 3 in the fair value hierarchy.
Derivative instruments
The fair values of derivative instruments, primarily call options, are based upon the amount of cash that we expect to receive to settle each derivative instrument on the reporting date. These amounts are determined by our investment team using industry accepted valuation models and are adjusted for the nonperformance risk of each counterparty net of any collateral held. Inputs include market volatility and risk free interest rates and are used in income valuation techniques in arriving at a fair value for each option contract. The nonperformance risk for each counterparty is based upon its credit default swap rate. We have no performance obligations related to the call options purchased to fund our fixed index annuity policy liabilities.
Other investments
None of the financial instruments included in other investments are measured at fair value on a recurring basis. Financial instruments included in other investments are policy loans, equity method investments and company owned life insurance (COLI). We have not attempted to determine the fair values associated with our policy loans, as we believe any differences between carrying value and the fair values afforded these instruments are immaterial to our consolidated financial position and, accordingly, the cost to provide such disclosure does not justify the benefit to be derived. The fair values of our equity method investments qualify as Level 3 fair values and were determined by calculating the present value of future cash flows discounted by a risk free rate, a risk spread and a liquidity discount. The risk spread and liquidity discount are rates determined by our investment professionals and are unobservable market inputs. The fair value of our COLI approximates the cash surrender value of the policies and falls within Level 2 of the fair value hierarchy.
Cash and cash equivalents
Amounts reported in the consolidated balance sheets for these instruments are reported at their historical cost which approximates fair value due to the nature of the assets assigned to this category.
Interest rate caps and swap
The fair values of our pay fixed/receive variable interest rate swap and our interest rate caps are obtained from third parties and are determined by discounting expected future cash flows using projected LIBOR rates for the term of the caps and swap.
2015 notes hedges
The fair value of these call options has been determined by a third party who applies market observable data such as our common stock price, its dividend yield and its volatility, as well as the time to expiration of the call options to determine a fair value of the buy side of these options.
Counterparty collateral
Amounts reported in other assets of the consolidated balance sheets for these instruments are reported at their historical cost which approximates fair value due to the nature of the assets assigned to this category.
Policy benefit reserves, coinsurance deposits and SPIA benefit reserves
The fair values of the liabilities under contracts not involving significant mortality or morbidity risks (principally deferred annuities), are stated at the cost we would incur to extinguish the liability (i.e., the cash surrender value) as these contracts are generally issued without an annuitization date. The coinsurance deposits related to the annuity benefit reserves have fair values determined in a similar fashion. For period-certain annuity benefit contracts, the fair value is determined by discounting the benefits at the interest rates currently in effect for newly purchased immediate annuity contracts. We are not required to and have not estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from financial instruments that require disclosures of fair value. Policy benefit reserves, coinsurance deposits and SPIA benefit reserves are not measured at fair value on a recurring basis. All of the fair values presented within these categories fall within Level 3 of the fair value hierarchy as most of the inputs are unobservable market data.
Notes payable
The fair values of our senior unsecured notes and convertible senior notes are based upon pricing matrices developed by a third party pricing service when quoted market prices are not available and are categorized as Level 2 within the fair value hierarchy. Notes payable are not remeasured at fair value on a recurring basis.
Subordinated debentures
Fair values for subordinated debentures are estimated using discounted cash flow calculations based principally on observable inputs including our incremental borrowing rates, which reflect our credit rating, for similar types of borrowings with maturities consistent with those remaining for the debt being valued. These fair values are categorized as Level 2 within the fair value hierarchy. Subordinated debentures are not measured at fair value on a recurring basis.
2015 notes embedded conversion derivative
The fair value of this embedded derivative is determined by pricing the call options that hedge this potential liability. The terms of the conversion option are identical to the 2015 notes hedges and the method of determining fair value of the call options is based upon observable market data.
Fixed index annuities - embedded derivatives
We estimate the fair value of the embedded derivative component of our fixed index annuity policy benefit reserves at each valuation date by (i) projecting policy contract values and minimum guaranteed contract values over the expected lives of the contracts and (ii) discounting the excess of the projected contract value amounts at the applicable risk free interest rates adjusted for our nonperformance risk related to those liabilities. The projections of policy contract values are based on our best estimate assumptions for future policy growth and future policy decrements. Our best estimate assumptions for future policy growth include assumptions for the expected index credit on the next policy anniversary date which are derived from the fair values of the underlying call options purchased to fund such index credits and the expected costs of annual call options we will purchase in the future to fund index credits beyond the next policy anniversary. The projections of minimum guaranteed contract values include the same best estimate assumptions for policy decrements as were used to project policy contract values.
The following tables provide a reconciliation of the beginning and ending balances for our Level 3 assets and liabilities, which are measured at fair value on a recurring basis using significant unobservable inputs for the three and nine months ended September 30, 2014 and 2013:
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
	(Dollars in thousands)
Available for sale securities
Beginning balance	$	668		$	1,541		$	1,376		$	1,812
Principal returned	(68		)	(148		)	(260		)	(709		)
Amortization of premium/accretion of discount	1			(18		)	(164		)	116
Total gains (losses) (realized/unrealized):
Included in other comprehensive income (loss)	127			(61		)	(19		)	95
Included in operations	(202		)	—			(407		)	—
Ending balance	$	526		$	1,314		$	526		$	1,314
The Level 3 assets included in the table above are not material to our financial position, results of operations or cash flows, and it is management's opinion that the sensitivity of the inputs used in determining the fair value of these assets is not material as well.
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
	(Dollars in thousands)
Fixed index annuities - embedded derivatives
Beginning balance	$	5,119,823		$	3,747,052		$	4,406,163		$	3,337,556
Premiums less benefits	496,295			372,363			1,294,024			1,044,756
Change in fair value, net	(354,564		)	(143,553		)	(438,633		)	(406,450		)
Ending balance	$	5,261,554		$	3,975,862		$	5,261,554		$	3,975,862
Change in fair value, net for each period in our embedded derivatives are included in change in fair value of embedded derivatives in the unaudited consolidated statements of operations.
Certain derivatives embedded in our fixed index annuity contracts are our most significant financial instruments measured at fair value that are categorized as Level 3 in the fair value hierarchy. The contractual obligations for future annual index credits within our fixed index annuity contracts are treated as a "series of embedded derivatives" over the expected life of the applicable contracts. We estimate the fair value of these embedded derivatives at each valuation date by the method described above under fixed index annuities - embedded derivatives. The projections of minimum guaranteed contract values include the same best estimate assumptions for policy decrements as were used to project policy contract values.
The most sensitive assumption in determining policy liabilities for fixed index annuities is the rates used to discount the excess projected contract values. As indicated above, the discount rate reflects our nonperformance risk. If the discount rates used to discount the excess projected contract values at September 30, 2014, were to increase by 100 basis points, the fair value of the embedded derivatives would decrease by $355.9 million recorded through operations as a decrease in the change in fair value of embedded derivatives and there would be a corresponding decrease of $213.9 million to our combined balance for deferred policy acquisition costs and deferred sales inducements recorded through operations as an increase in amortization of deferred policy acquisition costs and deferred sales inducements. A decrease by 100 basis points in the discount rate used to discount the excess projected contract values would increase the fair value of the embedded derivatives by $397.8 million recorded through operations as an increase in the change in fair value of embedded derivatives and there would be a corresponding increase of $231.6 million to our combined balance for deferred policy acquisition costs and deferred sales inducements recorded through operations as a decrease in amortization of deferred policy acquisition costs and deferred sales inducements.

Investments

Investments	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
Investments	'
	Investments
	At September 30, 2014 and December 31, 2013, the amortized cost and fair value of fixed maturity securities and equity securities were as follows:
		Amortized				Gross				Gross				Fair Value
		Cost				Unrealized				Unrealized
						Gains				Losses
		(Dollars in thousands)
	30-Sep-14
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	37,910			$	291			$	(490	)		$	37,711
	United States Government sponsored agencies	1,338,476				24,207				(31,607		)		1,331,076
	United States municipalities, states and territories	3,266,015				346,044				(3,467		)		3,608,592
	Foreign government obligations	181,123				13,109				(1,713		)		192,519
	Corporate securities	19,316,396				1,334,353				(134,339		)		20,516,410
	Residential mortgage backed securities	1,684,196				129,298				(11,308		)		1,802,186
	Commercial mortgage backed securities	2,594,756				43,292				(19,120		)		2,618,928
	Other asset backed securities	882,438				38,971				(5,185		)		916,224
		$	29,301,310			$	1,929,565			$	(207,229	)		$	31,023,646
	Held for investment:
	Corporate security	$	76,387			$	—			$	(4,888	)		$	71,499
	Equity securities, available for sale:
	Finance, insurance, and real estate	$	7,507			$	249			$	—			$	7,756
	December 31, 2013
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	44,852			$	367			$	(2,294	)		$	42,925
	United States Government sponsored agencies	1,313,776				1,875				(121,362		)		1,194,289
	United States municipalities, states and territories	3,181,032				164,785				(39,074		)		3,306,743
	Foreign government obligations	86,112				8,907				(3,462		)		91,557
	Corporate securities	17,142,118				606,948				(516,029		)		17,233,037
	Residential mortgage backed securities	1,895,913				119,230				(43,183		)		1,971,960
	Commercial mortgage backed securities	1,821,988				3,287				(89,815		)		1,735,460
	Other asset backed securities	1,041,939				23,300				(30,763		)		1,034,476
		$	26,527,730			$	928,699			$	(845,982	)		$	26,610,447
	Held for investment:
	Corporate security	$	76,255			$	—			$	(15,415	)		$	60,840
	Equity securities, available for sale:
	Finance, insurance, and real estate	$	7,503			$	275			$	—			$	7,778
	At September 30, 2014, 32% of our fixed income securities have call features, of which 0.8% ($0.2 billion) were subject to call redemption and another 4% ($1.0 billion) will become subject to call redemption during the next twelve months. $0.5 billion of U.S. Government sponsored agency securities were called during April 2014.
	The amortized cost and fair value of fixed maturity securities at September 30, 2014, by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. All of our mortgage and other asset backed securities provide for periodic payments throughout their lives and are shown below as separate lines.
		Available for sale								Held for investment
		Amortized				Fair Value				Amortized				Fair Value
		Cost								Cost
		(Dollars in thousands)
	Due in one year or less	$	48,059			$	49,602			$	—			$	—
	Due after one year through five years	1,246,185				1,402,686				—				—
	Due after five years through ten years	8,461,914				8,657,273				—				—
	Due after ten years through twenty years	6,962,630				7,443,830				—				—
	Due after twenty years	7,421,132				8,132,917				76,387				71,499
		24,139,920				25,686,308				76,387				71,499
	Residential mortgage backed securities	1,684,196				1,802,186				—				—
	Commercial mortgage backed securities	2,594,756				2,618,928				—				—
	Other asset backed securities	882,438				916,224				—				—
		$	29,301,310			$	31,023,646			$	76,387			$	71,499
	Net unrealized gains on available for sale fixed maturity securities and equity securities reported as a separate component of stockholders' equity were comprised of the following:
		September 30, 2014				31-Dec-13
		(Dollars in thousands)
	Net unrealized gains on available for sale fixed maturity securities and equity securities	$	1,722,585			$	82,992
	Adjustments for assumed changes in amortization of deferred policy acquisition costs and deferred sales inducements	(917,358		)		(46,588		)
	Deferred income tax valuation allowance reversal	22,534				22,534
	Deferred income tax expense	(281,830		)		(12,742		)
	Net unrealized gains reported as accumulated other comprehensive income	$	545,931			$	46,196
	The National Association of Insurance Commissioners (“NAIC”) assigns designations to fixed maturity securities. These designations range from Class 1 (highest quality) to Class 6 (lowest quality). In general, securities are assigned a designation based upon the ratings they are given by the Nationally Recognized Statistical Rating Organizations (“NRSRO’s”). The NAIC designations are utilized by insurers in preparing their annual statutory statements. NAIC Class 1 and 2 designations are considered “investment grade” while NAIC Class 3 through 6 designations are considered “non-investment grade.” Based on the NAIC designations, we had 98% of our fixed maturity portfolio rated investment grade at September 30, 2014 and December 31, 2013.
The following table summarizes the credit quality, as determined by NAIC designation, of our fixed maturity portfolio as of the dates indicated:
		September 30, 2014								December 31, 2013
NAIC		Amortized Cost				Fair Value				Amortized Cost				Fair Value
Designation
		(Dollars in thousands)
1		$	18,639,433			$	19,873,945			$	16,394,654			$	16,531,250
2		10,160,844				10,657,187				9,630,251				9,598,399
3		508,843				496,899				502,822				474,165
4		67,643				66,563				74,493				66,078
5		—				—				—				—
6		934				551				1,765				1,395
		$	29,377,697			$	31,095,145			$	26,603,985			$	26,671,287
The following table shows our investments' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities (consisting of 628 and 1,047 securities, respectively) have been in a continuous unrealized loss position, at September 30, 2014 and December 31, 2013:
	Less than 12 months								12 months or more								Total
	Fair Value				Unrealized				Fair Value				Unrealized				Fair Value				Unrealized
					Losses								Losses								Losses
	(Dollars in thousands)
September 30, 2014
Fixed maturity securities:
Available for sale:
United States Government full faith and credit	$	506			$	—			$	32,815			$	(490	)		$	33,321			$	(490	)
United States Government sponsored agencies	51,590				(380		)		605,930				(31,227		)		657,520				(31,607		)
United States municipalities, states and territories	75,487				(644		)		71,363				(2,823		)		146,850				(3,467		)
Foreign government obligations	15,057				(214		)		12,937				(1,499		)		27,994				(1,713		)
Corporate securities:
Finance, insurance and real estate	530,312				(6,352		)		451,461				(20,971		)		981,773				(27,323		)
Manufacturing, construction and mining	1,451,461				(22,991		)		839,113				(35,082		)		2,290,574				(58,073		)
Utilities and related sectors	387,420				(5,086		)		461,882				(21,632		)		849,302				(26,718		)
Wholesale/retail trade	192,142				(3,723		)		99,888				(5,437		)		292,030				(9,160		)
Services, media and other	284,105				(3,662		)		260,985				(9,403		)		545,090				(13,065		)
Residential mortgage backed securities	148,490				(2,407		)		204,929				(8,901		)		353,419				(11,308		)
Commercial mortgage backed securities	858,538				(7,695		)		429,678				(11,425		)		1,288,216				(19,120		)
Other asset backed securities	48,967				(2,007		)		81,296				(3,178		)		130,263				(5,185		)
	$	4,044,075			$	(55,161	)		$	3,552,277			$	(152,068	)		$	7,596,352			$	(207,229	)
Held for investment:
Corporate security:
Insurance	$	—			$	—			$	71,499			$	(4,888	)		$	71,499			$	(4,888	)
December 31, 2013
Fixed maturity securities:
Available for sale:
United States Government full faith and credit	$	32,969			$	(2,294	)		$	—			$	—			$	32,969			$	(2,294	)
United States Government sponsored agencies	692,320				(88,671		)		467,309				(32,691		)		1,159,629				(121,362		)
United States municipalities, states and territories	614,056				(39,074		)		—				—				614,056				(39,074		)
Foreign government obligations	26,298				(3,462		)		—				—				26,298				(3,462		)
Corporate securities:
Finance, insurance and real estate	1,690,846				(92,426		)		153,037				(12,873		)		1,843,883				(105,299		)
Manufacturing, construction and mining	3,370,775				(191,245		)		93,608				(16,088		)		3,464,383				(207,333		)
Utilities and related sectors	1,829,868				(102,758		)		83,550				(11,547		)		1,913,418				(114,305		)
Wholesale/retail trade	428,407				(25,189		)		17,687				(1,992		)		446,094				(27,181		)
Services, media and other	834,699				(51,508		)		107,242				(10,403		)		941,941				(61,911		)
Residential mortgage backed securities	309,599				(41,080		)		31,739				(2,103		)		341,338				(43,183		)
Commercial mortgage backed securities	1,450,143				(83,814		)		51,099				(6,001		)		1,501,242				(89,815		)
Other asset backed securities	356,018				(20,426		)		92,372				(10,337		)		448,390				(30,763		)
	$	11,635,998			$	(741,947	)		$	1,097,643			$	(104,035	)		$	12,733,641			$	(845,982	)
Held for investment:
Corporate security:
Insurance	$	—			$	—			$	60,840			$	(15,415	)		$	60,840			$	(15,415	)
The following is a description of the factors causing the temporary unrealized losses by investment category as of September 30, 2014:
United States Government sponsored agencies: These securities are relatively long in duration; however, most are callable in less than 12 months making the value of such securities sensitive to changes in market interest rates. The timing of when some of these securities were purchased gave rise to unrealized losses at September 30, 2014.
United States municipalities, states and territories: These securities are relatively long in duration and their fair values are sensitive to changes in market interest rates. The timing of the purchase of these securities have resulted in unrealized losses.
Corporate securities: The unrealized losses in these securities are due partially to the timing of purchases. These securities carry yields less than those available at September 30, 2014. In addition, a small number of securities have seen their credit spreads remain wide due to issuer or industry specific news while some financial and industrial sector credit spreads remain wide due to continued economic uncertainty and concerns of economic instability.
Residential mortgage backed securities: At September 30, 2014, we had no exposure to sub-prime residential mortgage backed securities. All of our residential mortgage backed securities are pools of first-lien residential mortgage loans. Substantially all of the securities that we own are in the most senior tranche of the securitization in which they are structured and are not subordinated to any other tranche. Our "Alt-A" residential mortgage backed securities are comprised of 35 securities with a total amortized cost basis of $254.3 million and a fair value of $281.6 million. Despite recent improvements in the capital markets, the fair values of RMBS with weaker borrower characteristics continue at prices below amortized cost. These RMBS prices will likely remain below our cost basis until the housing market is able to absorb current and future foreclosures.
Commercial mortgage backed securities: The unrealized losses in these securities are due partially to the timing of purchases. A number of purchases were at yields lower than what could be executed at the end of this quarter due to the increase in the treasury yield since the time of purchase.
Other asset backed securities: The unrealized losses in these securities are predominantly assigned to financial sector capital trust securities which have longer maturity dates and have declined in price due to prolonged stress in the financial sector. No securities in an unrealized loss position are rated below investment grade.
Approximately 89% and 95% of the unrealized losses on fixed maturity securities shown in the above table for September 30, 2014 and December 31, 2013, respectively, are on securities that are rated investment grade, defined as being the highest two NAIC designations. All of the securities with unrealized losses are current with respect to the payment of principal and interest.
Changes in net unrealized gains on investments for the three and nine months ended September 30, 2014 and 2013 are as follows:
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2014				2013				2014				2013
	(Dollars in thousands)
Fixed maturity securities held for investment carried at amortized cost	$	4,883			$	(449	)		$	10,527			$	(802	)
Investments carried at fair value:
Fixed maturity securities, available for sale	$	(54,291	)		$	(276,793	)		$	1,639,619			$	(1,735,347	)
Equity securities, available for sale	(7		)		(84		)		(26		)		(8,033		)
	(54,298		)		(276,877		)		1,639,593				(1,743,380		)
Adjustment for effect on other balance sheet accounts:
Deferred policy acquisition costs and deferred sales inducements	38,699				152,944				(870,770		)		938,637
Deferred income tax asset/liability	5,459				43,378				(269,088		)		281,661
	44,158				196,322				(1,139,858		)		1,220,298
Change in net unrealized gains on investments carried at fair value	$	(10,140	)		$	(80,555	)		$	499,735			$	(523,082	)
Proceeds from sales of available for sale securities for the nine months ended September 30, 2014 and 2013 were $141.8 million and $1.2 billion, respectively. Scheduled principal repayments, calls and tenders for available for sale securities for the nine months ended September 30, 2014 and 2013 were $1.1 billion and $1.9 billion, respectively.
Realized gains and losses on sales are determined on the basis of specific identification of investments based on the trade date. Net realized gains (losses) on investments, excluding net OTTI losses for the three and nine months ended September 30, 2014 and 2013, are as follows:
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2014				2013				2014				2013
	(Dollars in thousands)
Available for sale fixed maturity securities:
Gross realized gains	$	179			$	3,965			$	1,536			$	24,608
Gross realized losses	(148		)		(2,096		)		(910		)		(5,106		)
	31				1,869				626				19,502
Available for sale equity securities:
Gross realized gains	—				—				—				9,571
Other investments:
Gain on sale of real estate	455				201				1,493				1,505
Loss on sale of real estate	—				(278		)		(231		)		(744		)
Impairment losses on real estate	(1,436		)		(678		)		(2,235		)		(823		)
	(981		)		(755		)		(973		)		(62		)
Mortgage loans on real estate:
Increase in allowance for credit losses	(2,240		)		(3,191		)		(5,787		)		(4,814		)
	$	(3,190	)		$	(2,077	)		$	(6,134	)		$	24,197
Losses on available for sale fixed maturity securities were realized primarily due to strategies to reposition the fixed maturity security portfolio that result in improved net investment income, risk or duration profiles as they pertain to our asset liability management.
We review and analyze all investments on an ongoing basis for changes in market interest rates and credit deterioration. This review process includes analyzing our ability to recover the amortized cost basis of each investment that has a fair value that is materially lower than its amortized cost and requires a high degree of management judgment and involves uncertainty. The evaluation of securities for other than temporary impairments is a quantitative and qualitative process, which is subject to risks and uncertainties.
We have a policy and process to identify securities that could potentially have impairments that are other than temporary. This process involves monitoring market events and other items that could impact issuers. The evaluation includes but is not limited to such factors as:
•	the length of time and the extent to which the fair value has been less than amortized cost or cost;
•	whether the issuer is current on all payments and all contractual payments have been made as agreed;
•	the remaining payment terms and the financial condition and near-term prospects of the issuer;
•	the lack of ability to refinance due to liquidity problems in the credit market;
•	the fair value of any underlying collateral;
•	the existence of any credit protection available;
•	our intent to sell and whether it is more likely than not we would be required to sell prior to recovery for debt securities;
•	our assessment in the case of equity securities including perpetual preferred stocks with credit deterioration that the security cannot recover to cost in a reasonable period of time;
•	our intent and ability to retain equity securities for a period of time sufficient to allow for recovery;
•	consideration of rating agency actions; and
•	changes in estimated cash flows of mortgage and asset backed securities.
We determine whether other than temporary impairment losses should be recognized for debt and equity securities by assessing all facts and circumstances surrounding each security. Where the decline in fair value of debt securities is attributable to changes in market interest rates or to factors such as market volatility, liquidity and spread widening, and we anticipate recovery of all contractual or expected cash flows, we do not consider these investments to be other than temporarily impaired because we do not intend to sell these investments and it is not more likely than not we will be required to sell these investments before a recovery of amortized cost, which may be maturity. For equity securities, we recognize an impairment charge in the period in which we do not have the intent and ability to hold the securities until recovery of cost or we determine that the security will not recover to book value within a reasonable period of time. We determine what constitutes a reasonable period of time on a security-by-security basis by considering all the evidence available to us, including the magnitude of any unrealized loss and its duration.
Other than temporary impairment losses on equity securities are recognized in operations. If we intend to sell a debt security or if it is more likely than not that we will be required to sell a debt security before recovery of its amortized cost basis, other than temporary impairment has occurred and the difference between amortized cost and fair value will be recognized as a loss in operations.
If we do not intend to sell and it is not more likely than not we will be required to sell the debt security but also do not expect to recover the entire amortized cost basis of the security, an impairment loss would be recognized in operations in the amount of the expected credit loss. We determine the amount of expected credit loss by calculating the present value of the cash flows expected to be collected discounted at each security's acquisition yield based on our consideration of whether the security was of high credit quality at the time of acquisition. The difference between the present value of expected future cash flows and the amortized cost basis of the security is the amount of credit loss recognized in operations. The remaining amount of the other than temporary impairment is recognized in other comprehensive income (loss).
The determination of the credit loss component of a mortgage backed security is based on a number of factors. The primary consideration in this evaluation process is the issuer's ability to meet current and future interest and principal payments as contractually stated at time of purchase. Our review of these securities includes an analysis of the cash flow modeling under various default scenarios considering independent third party benchmarks, the seniority of the specific tranche within the structure of the security, the composition of the collateral and the actual default, loss severity and prepayment experience exhibited. With the input of third party assumptions for default projections, loss severity and prepayment expectations, we evaluate the cash flow projections to determine whether the security is performing in accordance with its contractual obligation.
We utilize the models from a leading structured product software specialist serving institutional investors. These models incorporate each security's seniority and cash flow structure. In circumstances where the analysis implies a potential for principal loss at some point in the future, we use the "best estimate" cash flow projection discounted at the security's effective yield at acquisition to determine the amount of our potential credit loss associated with this security. The discounted expected future cash flows equates to our expected recovery value. Any shortfall of the expected recovery when compared to the amortized cost of the security will be recorded as the credit loss component of other than temporary impairment.
The cash flow modeling is performed on a security-by-security basis and incorporates actual cash flows on the residential mortgage backed securities through the current period, as well as the projection of remaining cash flows using a number of assumptions including default rates, prepayment rates and loss severity rates. The default curves we use are tailored to the Prime or Alt-A residential mortgage backed securities that we own, which assume lower default rates and loss severity for Prime securities versus Alt-A securities. These default curves are scaled higher or lower depending on factors such as current underlying mortgage loan performance, rating agency loss projections, loan to value ratios, geographic diversity, as well as other appropriate considerations.
The following table presents the range of significant assumptions used to determine the credit loss component of other than temporary impairments we have recognized on residential mortgage backed securities for the nine months ended September 30, 2014 and 2013, which are all senior level tranches within the structure of the securities:
				Discount Rate						Default Rate						Loss Severity
Sector		Vintage		Min			Max			Min			Max			Min			Max
Nine months ended September 30, 2014
Prime		2005		7.5	%		7.5	%		15	%		15	%		50	%		50	%
		2006		6.5	%		7.4	%		11	%		12	%		50	%		50	%
		2007		7	%		7	%		14	%		14	%		55	%		55	%
Alt-A		2005		5.6	%		6.4	%		87	%		89	%		2	%		2	%
Nine months ended September 30, 2013
Prime		2003		5.1	%		5.1	%		2	%		2	%		30	%		30	%
		2005		6.5	%		7.7	%		8	%		18	%		50	%		65	%
		2006		6	%		6.9	%		9	%		16	%		50	%		50	%
		2007		6.2	%		6.7	%		11	%		25	%		40	%		60	%
		2008		6.6	%		6.6	%		16	%		16	%		45	%		45	%
		2009		6.8	%		6.8	%		17	%		17	%		60	%		60	%
Alt-A		2005		5.6	%		8.7	%		15	%		81	%		2	%		65	%
		2007		6.2	%		6.9	%		38	%		52	%		60	%		65	%
The determination of the credit loss component of a corporate bond (including redeemable preferred stocks) is based on the underlying financial performance of the issuer and their ability to meet their contractual obligations. Considerations in our evaluation include, but are not limited to, credit rating changes, financial statement and ratio analysis, changes in management, significant changes in credit spreads, breaches of financial covenants and a review of the economic outlook for the industry and markets in which they trade. In circumstances where an issuer appears unlikely to meet its future obligation, or the security's price decline is deemed other than temporary, an estimate of credit loss is determined. Credit loss is calculated using default probabilities as derived from the credit default swaps markets in conjunction with recovery rates derived from independent third party analysis or a best estimate of credit loss. This credit loss rate is then incorporated into a present value calculation based on an expected principal loss in the future discounted at the yield at the date of purchase and compared to amortized cost to determine the amount of credit loss associated with the security.
In addition, for debt securities which we do not intend to sell and it is not more likely than not we will be required to sell, but our intent changes due to changes or events that could not have been reasonably anticipated, an other than temporary impairment charge is recognized. Once an impairment charge has been recorded, we then continue to review the other than temporarily impaired securities for appropriate valuation on an ongoing basis. Unrealized losses may be recognized in future periods through a charge to earnings, should we later conclude that the decline in fair value below amortized cost is other than temporary pursuant to our accounting policy described above. The use of different methodologies and assumptions to determine the fair value of investments and the timing and amount of impairments may have a material effect on the amounts presented in our consolidated financial statements.
The following table summarizes other than temporary impairments for the three and nine months ended September 30, 2014 and 2013, by asset type:
	Number		Total OTTI				Portion of OTTI				Net OTTI
	of		Losses				Losses				Losses
	Securities						Recognized				Recognized in
							from Other				Operations
							Comprehensive
							Income
			(Dollars in thousands)
Three months ended September 30, 2014
Fixed maturity securities, available for sale:
Residential mortgage backed securities	3		$	—			$	(564	)		$	(564	)
Three months ended September 30, 2013
Fixed maturity securities, available for sale:
Residential mortgage backed securities	2		$	—			$	(222	)		$	(222	)
Nine months ended September 30, 2014
Fixed maturity securities, available for sale:
Residential mortgage backed securities	6		$	—			$	(2,063	)		$	(2,063	)
Nine months ended September 30, 2013
Fixed maturity securities, available for sale:
United States Government sponsored agencies	2		$	(2,775	)		$	—			$	(2,775	)
Corporate securities:
Industrial	1		(1,761		)		—				(1,761		)
Residential mortgage backed securities	6		—				(1,270		)		(1,270		)
Equity security, available for sale:
Industrial	1		(428		)		—				(428		)
	10		$	(4,964	)		$	(1,270	)		$	(6,234	)
The cumulative portion of other than temporary impairments determined to be credit losses which have been recognized in operations for debt securities are summarized as follows:
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2014				2013				2014				2013
	(Dollars in thousands)
Cumulative credit loss at beginning of period	$	(127,459	)		$	(128,513	)		$	(125,960	)		$	(134,027	)
Credit losses on securities for which OTTI has not previously been recognized	—				—				—				(4,536		)
Additional credit losses on securities for which OTTI has previously been recognized	(564		)		(222		)		(2,063		)		(1,270		)
Accumulated losses on securities that were disposed of during the period	—				2,775				—				13,873
Cumulative credit loss at end of period	$	(128,023	)		$	(125,960	)		$	(128,023	)		$	(125,960	)
The following table summarizes the cumulative noncredit portion of OTTI and the change in fair value since recognition of OTTI, both of which were recognized in other comprehensive income (loss), by major type of security, for securities that are part of our investment portfolio at September 30, 2014 and December 31, 2013:
	Amortized Cost				OTTI				Change in Fair				Fair Value
					Recognized in				Value Since
					Other				OTTI was
					Comprehensive				Recognized
					Income
	(Dollars in thousands)
September 30, 2014
Fixed maturity securities, available for sale:
Corporate securities	$	—			$	—			$	25			$	25
Residential mortgage backed securities	597,409				(174,271		)		217,197				640,335
	$	597,409			$	(174,271	)		$	217,222			$	640,360
December 31, 2013
Fixed maturity securities, available for sale:
Corporate securities	$	—			$	—			$	20			$	20
Residential mortgage backed securities	679,265				(176,334		)		216,061				718,992
	$	679,265			$	(176,334	)		$	216,081			$	719,012

Mortgage_Loans_on_Real_Estate

Mortgage Loans on Real Estate	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
Mortgage Loans on Real Estate	'
	Mortgage Loans on Real Estate
	Our mortgage loan portfolio, summarized in the following table, totaled $2.5 billion at September 30, 2014 and $2.6 billion at December 31, 2013, with commitments outstanding of $55.9 million at September 30, 2014.
		September 30, 2014				December 31, 2013
		(Dollars in thousands)
	Principal outstanding	$	2,502,703			$	2,607,698
	Loan loss allowance	(27,864		)		(26,047		)
	Deferred prepayment fees	(533		)		(569		)
	Carrying value	$	2,474,306			$	2,581,082
	The portfolio consists of commercial mortgage loans collateralized by the related properties and diversified as to property type, location and loan size. Our mortgage lending policies establish limits on the amount that can be loaned to one borrower and other criteria to attempt to reduce the risk of default. The mortgage loan portfolio is summarized by geographic region and property type as follows:
		September 30, 2014							December 31, 2013
		Principal				Percent			Principal				Percent
		(Dollars in thousands)
	Geographic distribution
	East	$	751,859			30	%		$	765,717			29.4	%
	Middle Atlantic	143,949				5.8	%		156,489				6	%
	Mountain	307,393				12.3	%		356,246				13.7	%
	New England	14,415				0.6	%		21,324				0.8	%
	Pacific	290,794				11.6	%		317,431				12.2	%
	South Atlantic	490,945				19.6	%		483,852				18.5	%
	West North Central	335,124				13.4	%		351,794				13.5	%
	West South Central	168,224				6.7	%		154,845				5.9	%
		$	2,502,703			100	%		$	2,607,698			100	%
	Property type distribution
	Office	$	517,387			20.7	%		$	590,414			22.6	%
	Medical Office	93,834				3.7	%		125,703				4.8	%
	Retail	719,554				28.7	%		711,364				27.3	%
	Industrial/Warehouse	675,131				27	%		673,449				25.8	%
	Hotel	34,615				1.4	%		61,574				2.4	%
	Apartment	332,694				13.3	%		291,823				11.2	%
	Mixed use/other	129,488				5.2	%		153,371				5.9	%
		$	2,502,703			100	%		$	2,607,698			100	%
	Our financing receivables currently consist of one portfolio segment which is our commercial mortgage loan portfolio. These are mortgage loans with collateral consisting of commercial real estate and borrowers consisting mostly of limited liability partnerships or limited liability corporations.
	We evaluate our mortgage loan portfolio for the establishment of a loan loss allowance by specific identification of impaired loans and the measurement of an estimated loss for each individual loan identified. A mortgage loan is impaired when it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. If we determine that the value of any specific mortgage loan is impaired, the carrying amount of the mortgage loan will be reduced to its fair value, based upon the present value of expected future cash flows from the loan discounted at the loan's effective interest rate, or the fair value of the underlying collateral less estimated costs to sell.
	In addition, we analyze the mortgage loan portfolio for the need of a general loan allowance for probable losses on all other loans on a quantitative and qualitative basis. The amount of the general loan allowance is based upon management's evaluation of the collectability of the loan portfolio, historical loss experience, delinquencies, credit concentrations, underwriting standards and national and local economic conditions.
	We rate each of the mortgage loans in our portfolio based on factors such as historical operating performance, loan to value ratio and economic outlook, among others. We calculate a loss factor to apply to each rating based on historical losses we have recognized in our mortgage loan portfolio. We apply the loss factors to the total principal outstanding within each rating category to determine an appropriate estimate of general loan loss allowance. We also assess the portfolio qualitatively and apply a loss rate to all loans without a specific allowance based on management's assessment of economic conditions, and we apply an additional amount of loss allowance to a group of loans that we have identified as having higher risk of loss.
	The following tables present a rollforward of our specific and general valuation allowances for mortgage loans on real estate:
		Three Months Ended								Three Months Ended
		30-Sep-14								30-Sep-13
		Specific				General Allowance				Specific				General Allowance
		Allowance								Allowance
		(Dollars in thousands)
	Beginning allowance balance	$	(17,282	)		$	(9,300	)		$	(21,176	)		$	(10,500	)
	Charge-offs	958				—				3,749				—
	Change in provision for credit losses	(1,040		)		(1,200		)		(2,691		)		(500		)
	Ending allowance balance	$	(17,364	)		$	(10,500	)		$	(20,118	)		$	(11,000	)
		Nine Months Ended								Nine Months Ended
		30-Sep-14								30-Sep-13
		Specific				General Allowance				Specific				General Allowance
		Allowance								Allowance
		(Dollars in thousands)
	Beginning allowance balance	$	(16,847	)		$	(9,200	)		$	(23,134	)		$	(11,100	)
	Charge-offs	3,715				—				7,930				—
	Recoveries	255				—				—				—
	Change in provision for credit losses	(4,487		)		(1,300		)		(4,914		)		100
	Ending allowance balance	$	(17,364	)		$	(10,500	)		$	(20,118	)		$	(11,000	)
	The specific allowance represents the total credit loss allowances on loans which are individually evaluated for impairment. The general allowance is for the group of loans discussed above which are collectively evaluated for impairment. The following table presents the total outstanding principal of loans evaluated for impairment by basis of impairment method:
		September 30, 2014				December 31, 2013
		(Dollars in thousands)
	Individually evaluated for impairment	$	37,954			$	47,018
	Collectively evaluated for impairment	2,464,749				2,560,680
	Total loans evaluated for impairment	$	2,502,703			$	2,607,698
	Charge-offs include allowances that have been established on loans that were satisfied by taking ownership of the collateral. When the property is taken it is recorded at the lower of the mortgage loan's carrying value or the property's fair value as a component of other investments and the mortgage loan is recorded as fully paid, with any allowance for credit loss that has been established charged off. Fair value of the real estate is determined by third party appraisal. Charge-offs also include situations where we have received a payment from the borrower in an amount greater than the carrying value of the loan (principal outstanding less specific allowance). We define collateral dependent loans as those mortgage loans for which we will depend on the value of the collateral real estate to satisfy the outstanding principal of the loan.
	During the three months ended September 30, 2014, one mortgage loan was satisfied by taking ownership of the real estate serving as collateral and during the nine months ended September 30, 2014, six mortgage loans were satisfied by taking ownership of the real estate serving as collateral compared to three and four mortgage loans for the same periods in 2013. The following table summarizes the activity in the real estate owned which was obtained in satisfaction of mortgage loans on real estate:
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2014				2013				2014				2013
	(Dollars in thousands)
Real estate owned at beginning of period	$	24,606			$	26,609			$	22,844			$	33,172
Real estate acquired in satisfaction of mortgage loans	1,748				5,441				11,755				6,285
Additions	—				52				—				532
Sales	(2,431		)		(5,832		)		(9,579		)		(13,245		)
Impairments	(1,436		)		(678		)		(2,235		)		(823		)
Depreciation	(153		)		(159		)		(451		)		(488		)
Real estate owned at end of period	$	22,334			$	25,433			$	22,334			$	25,433
We analyze credit risk of our mortgage loans by analyzing all available evidence on loans that are delinquent and loans that are in a workout period.
	September 30, 2014				December 31, 2013
	(Dollars in thousands)
Credit Exposure--By Payment Activity
Performing	$	2,490,059			$	2,593,276
In workout	—				6,248
Delinquent	6,032				—
Collateral dependent	6,612				8,174
	$	2,502,703			$	2,607,698
The loans that are categorized as "in workout" consist of loans that we have agreed to lower or no mortgage payments for a period of time while the borrowers address cash flow and/or operational issues. The key features of these workouts have been determined on a loan-by-loan basis. Most of these loans are in a period of low cash flow due to tenants vacating their space or tenants requesting rent relief during difficult economic periods. Generally, we have allowed the borrower a six month interest only period and in some cases a twelve month period of interest only. Interest only workout loans are expected to return to their regular debt service payments after the interest only period. Interest only loans that are not fully amortizing will have a larger balance at their balloon date than originally contracted. Fully amortizing loans that are in interest only periods will have larger debt service payments for their remaining term due to lost principal payments during the interest only period. In limited circumstances we have allowed borrowers to pay the principal portion of their loan payment into an escrow account that can be used for capital and tenant improvements for a period of not more than twelve months. In these situations new loan amortization schedules are calculated based on the principal not collected during this twelve month workout period and larger payments are collected for the remaining term of each loan. In all cases, the original interest rate and maturity date have not been modified, and we have not forgiven any principal amounts.
Mortgage loans are considered delinquent when they become 60 days past due. When loans become 90 days past due, become collateral dependent or enter a period with no debt service payments required we place them on non-accrual status and discontinue recognizing interest income. If payments are received on a delinquent loan, interest income is recognized to the extent it would have been recognized if normal principal and interest would have been received timely. If payments are received to bring a delinquent loan back to current we will resume accruing interest income on that loan. Outstanding principal of loans in a non-accrual status at September 30, 2014 and December 31, 2013 totaled $12.6 million and $8.2 million, respectively.
All of our commercial mortgage loans depend on the cash flow of the borrower to be at a sufficient level to service the principal and interest payments as they come due. In general, cash inflows of the borrowers are generated by collecting monthly rent from tenants occupying space within the borrowers' properties. Our borrowers face collateral risks such as tenants going out of business, tenants struggling to make rent payments as they become due, and tenants canceling leases and moving to other locations. We have a number of loans where the real estate is occupied by a single tenant. Our borrowers sometimes face both a reduction in cash flow on their mortgage property as well as a reduction in the fair value of the real estate collateral. If borrowers are unable to replace lost rent revenue and increases in the fair value of their property do not materialize we could potentially incur more losses than what we have allowed for in our specific and general loan loss allowances.
Aging of financing receivables is summarized in the following table, with loans in a "workout" period as of the reporting date considered current if payments are current in accordance with agreed upon terms:
	30 - 59 Days				60 - 89 Days				90 Days and Over				Total Past Due			Current		Collateral Dependent Receivables		Total Financing Receivables
	(Dollars in thousands)
Commercial Mortgage Loans
30-Sep-14	$	2,484			$	6,032			$	—			$	8,516		$	2,487,575	$	6,612	$	2,502,703
31-Dec-13	$	—			$	—			$	—			$	—		$	2,599,524	$	8,174	$	2,607,698
Financing receivables summarized in the following two tables represent all loans that we are either not currently collecting, or those we feel it is probable we will not collect, all amounts due according to the contractual terms of the loan agreements (all loans that we have worked with the borrower to alleviate short-term cash flow issues, loans delinquent for more than 60 days at the reporting date, loans we have determined to be collateral dependent and loans that we have recorded specific impairments on that we feel may continue to have performance issues).
	Recorded Investment				Unpaid Principal Balance				Related Allowance
	(Dollars in thousands)
September 30, 2014
Mortgage loans with an allowance	$	20,590			$	37,954			$	(17,364	)
Mortgage loans with no related allowance	2,657				2,657				—
	$	23,247			$	40,611			$	(17,364	)
December 31, 2013
Mortgage loans with an allowance	$	30,171			$	47,018			$	(16,847	)
Mortgage loans with no related allowance	3,264				3,264				—
	$	33,435			$	50,282			$	(16,847	)
	Average Recorded Investment				Interest Income Recognized
	(Dollars in thousands)
Three months ended September 30, 2014
Mortgage loans with an allowance	$	22,157			$	539
Mortgage loans with no related allowance	2,656				—
	$	24,813			$	539
Three months ended September 30, 2013
Mortgage loans with an allowance	$	31,488			$	1,135
Mortgage loans with no related allowance	18,781				366
	$	50,269			$	1,501
Nine months ended September 30, 2014
Mortgage loans with an allowance	$	23,580			$	1,696
Mortgage loans with no related allowance	2,656				—
	$	26,236			$	1,696
Nine months ended September 30, 2013
Mortgage loans with an allowance	$	32,315			$	2,069
Mortgage loans with no related allowance	18,822				797
	$	51,137			$	2,866
A Troubled Debt Restructuring ("TDR") is a situation where we have granted a concession to a borrower for economic or legal reasons related to the borrower's financial difficulties that we would not otherwise consider. A mortgage loan that has been granted new terms, including workout terms as described previously, would be considered a TDR if it meets conditions that would indicate a borrower is experiencing financial difficulty and the new terms constitute a concession on our part. We analyze all loans where we have agreed to workout terms and all loans that we have refinanced to determine if they meet the definition of a TDR. We consider the following factors in determining whether or not a borrower is experiencing financial difficulty:
•	borrower is in default,
•	borrower has declared bankruptcy,
•	there is growing concern about the borrower's ability to continue as a going concern,
•	borrower has insufficient cash flows to service debt,
•	borrower's inability to obtain funds from other sources, and
•	there is a breach of financial covenants by the borrower.
If the borrower is determined to be in financial difficulty, we consider the following conditions to determine if the borrower was granted a concession:
•	assets used to satisfy debt are less than our recorded investment,
•	interest rate is modified,
•	maturity date extension at an interest rate less than market rate,
•	capitalization of interest,
•	delaying principal and/or interest for a period of three months or more, and
•	partial forgiveness of the balance or charge-off.
Mortgage loan workouts, refinances or restructures that are classified as TDRs are individually evaluated and measured for impairment. A summary of mortgage loans on commercial real estate with outstanding principal at September 30, 2014 and December 31, 2013 that we determined to be TDRs are as follows:
Geographic Region		Number of TDRs		Principal Balance Outstanding				Specific Loan Loss Allowance				Net Carrying Amount
				(Dollars in thousands)
September 30, 2014
South Atlantic		6		$	11,747			$	(3,319	)		$	8,428
East North Central		1		2,196				(467		)		1,729
West North Central		1		1,894				(857		)		1,037
		8		$	15,837			$	(4,643	)		$	11,194
December 31, 2013
East		1		$	3,712			$	(949	)		$	2,763
Mountain		7		22,140				(329		)		21,811
South Atlantic		7		13,930				(4,177		)		9,753
East North Central		1		2,219				(467		)		1,752
West North Central		1		1,938				(475		)		1,463
West South Central		1		1,714				(256		)		1,458
		18		$	45,653			$	(6,653	)		$	39,000

Derivative_Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments	'
	Derivative Instruments
	We recognize all derivative instruments as assets or liabilities in the consolidated balance sheets at fair value. None of our derivatives qualify for hedge accounting, thus, any change in the fair value of the derivatives is recognized immediately in the consolidated statements of operations. The fair value of our derivative instruments, including derivative instruments embedded in fixed index annuity contracts and derivative instruments embedded in a convertible debt issue, presented in the consolidated balance sheets are as follows:
		September 30,				December 31,
		2014				2013
		(Dollars in thousands)
	Assets
	Derivative instruments
	Call options	$	744,033			$	856,050
	Other assets
	2015 notes hedges	39,061				107,041
	Interest rate caps	3,644				6,103
	Interest rate swap	—				712
		$	786,738			$	969,906
	Liabilities
	Policy benefit reserves - annuity products
	Fixed index annuities - embedded derivatives	$	5,261,554			$	4,406,163
	Other liabilities
	2015 notes embedded conversion derivative	39,061				107,041
	Interest rate swap	1,252				—
		$	5,301,867			$	4,513,204
	The changes in fair value of derivatives included in the unaudited consolidated statements of operations are as follows:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014			2013
		(Dollars in thousands)
	Change in fair value of derivatives:
	Call options	$	45,931			$	129,428			$	391,173		$	532,282
	2015 notes hedges	(6,823		)		73,504				(27,124		)	101,799
	2015 warrants	—				(9,199		)		—			(9,199		)
	Interest rate swap	254				(496		)		(2,996		)	4,039
	Interest rate caps	(144		)		(209		)		(2,459		)	2,109
		$	39,218			$	193,028			$	358,594		$	631,030
	Change in fair value of embedded derivatives:
	2015 notes embedded conversion derivative	$	(6,823	)		$	75,750			$	(31,356	)	$	104,045
	Fixed index annuities—embedded derivatives	(188,383		)		(39,526		)		9,704			(112,958		)
		$	(195,206	)		$	36,224			$	(21,652	)	$	(8,913	)
	We have fixed index annuity products that guarantee the return of principal to the policyholder and credit interest based on a percentage of the gain in a specified market index. When fixed index annuity deposits are received, a portion of the deposit is used to purchase derivatives consisting of call options on the applicable market indices to fund the index credits due to fixed index annuity policyholders. Substantially all such call options are one year options purchased to match the funding requirements of the underlying policies. The call options are marked to fair value with the change in fair value included as a component of revenues. The change in fair value of derivatives includes the gains or losses recognized at the expiration of the option term or upon early termination and the changes in fair value for open positions. On the respective anniversary dates of the index policies, the index used to compute the annual index credit is reset and we purchase new one-year call options to fund the next annual index credit. We manage the cost of these purchases through the terms of our fixed index annuities, which permit us to change caps, participation rates, and/or asset fees, subject to guaranteed minimums on each policy's anniversary date. By adjusting caps, participation rates, or asset fees, we can generally manage option costs except in cases where the contractual features would prevent further modifications.
	Our strategy attempts to mitigate any potential risk of loss under these agreements through a regular monitoring process which evaluates the program's effectiveness. We do not purchase call options that would require payment or collateral to another institution and our call options do not contain counterparty credit-risk-related contingent features. We are exposed to risk of loss in the event of nonperformance by the counterparties and, accordingly, we purchase our option contracts from multiple counterparties and evaluate the creditworthiness of all counterparties prior to purchase of the contracts. All of these options have been purchased from nationally recognized financial institutions with a Standard and Poor's credit rating of A- or higher at the time of purchase and the maximum credit exposure to any single counterparty is subject to concentration limits. We also have credit support agreements that allow us to request the counterparty to provide collateral to us when the fair value of our exposure to the counterparty exceeds specified amounts.
	The notional amount and fair value of our call options by counterparty and each counterparty's current credit rating are as follows:
							September 30, 2014							December 31, 2013
	Counterparty		Credit Rating		Credit Rating (Moody's)		Notional				Fair Value			Notional			Fair Value
			(S&P)				Amount							Amount
							(Dollars in thousands)
	Bank of America		A		A2		$	2,246,624			$	72,983		$	1,683,911		$	73,836
	Barclays		A		A2		3,623,829				103,851			2,396,839			113,513
	BNP Paribas		A+		A1		1,396,822				47,466			1,382,661			38,849
	Citibank, N.A.		A		A2		3,140,186				104,580			1,536,547			72,310
	Credit Suisse		A		A1		2,331,074				76,262			4,060,352			193,304
	Deutsche Bank		A		A3		1,896,694				48,434			747,587			41,074
	HSBC		AA-		A1		119,798				6,223			200,011			10,518
	J.P. Morgan		A+		Aa3		447,612				15,838			786,429			36,863
	Morgan Stanley		A-		Baa2		2,876,299				121,615			3,546,487			150,437
	Royal Bank of Canada		AA-		Aa3		1,383,324				42,089			714,941			25,140
	Wells Fargo		AA-		Aa3		3,282,302				104,692			2,221,874			100,206
							$	22,744,564			$	744,033		$	19,277,639		$	856,050
	As of September 30, 2014 and December 31, 2013, we held $715.3 million and $818.2 million, respectively, of cash and cash equivalents and other securities from counterparties for derivative collateral, which is included in other liabilities on our consolidated balance sheets. This derivative collateral limits the maximum amount of economic loss due to credit risk that we would incur if parties to the call options failed completely to perform according to the terms of the contracts to $64.1 million and $71.7 million at September 30, 2014 and December 31, 2013, respectively.
	The future annual index credits on our fixed index annuities are treated as a "series of embedded derivatives" over the expected life of the applicable contract. We do not purchase call options to fund the index liabilities which may arise after the next policy anniversary date. We must value both the call options and the related forward embedded options in the policies at fair value. During the nine months ended September 30, 2014, we revised future period assumptions for lapse rates and the expected costs of annual call options used in determining fixed index annuity embedded derivatives. These revisions decreased the change in fair value of embedded derivatives for the nine months ended September 30, 2014 by $62.6 million, which after related adjustments to deferred sales inducements and deferred policy acquisition costs and income taxes, increased net income and earnings per common share - assuming dilution by $14.8 million and $0.19, respectively.
	We entered into an interest rate swap and interest rate caps to manage interest rate risk associated with the floating rate component on certain of our subordinated debentures. See Note 10 in our Annual Report on Form 10-K for the year ended December 31, 2013 for more information on our subordinated debentures. The terms of the interest rate swap provide that we pay a fixed rate of interest and receive a floating rate of interest. The terms of the interest rate caps limit the three month London Interbank Offered Rate ("LIBOR") to 2.50%. The interest rate swap and caps are not effective hedges under accounting guidance for derivative instruments and hedging activities. Therefore, we record the interest rate swap and caps at fair value and any net cash payments received or paid are included in the change in fair value of derivatives in the unaudited consolidated statements of operations.
	Details regarding the interest rate swap are as follows:
			Notional						Pay				September 30, 2014			December 31, 2013
	Maturity Date		Amount				Receive Rate		Rate			Counterparty	Fair Value			Fair Value
													(Dollars in thousands)
	15-Mar-21		$	85,500			LIBOR		2.415	%		SunTrust	$	(1,252	)	$	712
Details regarding the interest rate caps are as follows:
		Notional						Cap				September 30, 2014			December 31, 2013
Maturity Date		Amount				Floating Rate		Rate			Counterparty	Fair Value			Fair Value
												(Dollars in thousands)
7-Jul-21		$	40,000			LIBOR		2.5	%		SunTrust	$	1,835		$	3,073
8-Jul-21		12,000				LIBOR		2.5	%		SunTrust	551			923
29-Jul-21		27,000				LIBOR		2.5	%		SunTrust	1,258			2,107
		$	79,000									$	3,644		$	6,103
The interest rate swap converts floating rates to fixed rates for seven years beginning March 2014. The interest rate caps cap our interest rates for seven years beginning July 2014. As of September 30, 2014, we held $2.3 million of cash and cash equivalents from the counterparty for derivative collateral related to the swap and caps, which is included in other liabilities on our consolidated balance sheets.
In September 2010, concurrently with the issuance of $200.0 million principal amount of 3.5% Convertible Senior Notes due September 15, 2015 (the "2015 notes"), we entered into hedge transactions (the "2015 notes hedges") with two counterparties whereby we will receive the cash equivalent of the conversion spread on 16.0 million shares of our common stock based upon a strike price of $12.50 per share, subject to certain conversion rate adjustments in the 2015 notes. The 2015 notes hedges expire on September 15, 2015, and must be settled in cash. The 2015 notes hedges are accounted for as derivative assets and are included in other assets in our consolidated balance sheets. The 2015 notes hedges and 2015 notes embedded conversion derivative are adjusted to fair value each reporting period and unrealized gains and losses are reflected in our unaudited consolidated statements of operations.
In separate transactions, we also sold warrants (the "2015 warrants") to two counterparties for the purchase of up to 16.0 million shares of our common stock at a price of $16.00 per share. We received $15.6 million in cash proceeds from the sale of the 2015 warrants, which was recorded as an increase in additional paid-in capital. The number of shares and strike price of the warrants are subject to adjustment based on dividends we pay subsequent to selling the warrants. The warrants expire on various dates from December 2015 through March 2016 and are intended to be settled in net shares. The total number of shares of common stock deliverable under the 2015 warrants is, however, currently limited to 11.7 million shares. Changes in the fair value of these warrants will not be recognized in our consolidated financial statements as long as the instruments remain classified as equity.
During the nine months ended September 30, 2014, we entered into four separate partial unwind agreements with the two counterparties to the 2015 notes hedges and the 2015 warrants to coincide with the extinguishment of a portion of our 2015 notes (see Note 6) whereby we agreed to settle the related 2015 notes hedges and the 2015 warrants and received net cash from the counterparties totaling $10.4 million. Subsequent to September 30, 2014 we entered into partial unwind agreements with the counterparties to the 2015 notes hedges and the 2015 warrants and will receive net cash totaling $6.2 million. Subsequent to the settlement of these unwind agreements and certain conversion rate adjustments due to dividends paid, 2015 notes hedges remain outstanding whereby we will receive the cash equivalent of the conversion spread on 1.8 million shares of our common stock based upon a strike price of $12.35 per share and warrants remain outstanding for the purchase of up to 1.8 million shares of our common stock at a strike price of $15.75 per share. At September 30, 2014 and 2013, the remaining 2015 warrants were dilutive as the average price of our common stock exceeded the $15.75 strike price of the 2015 warrants and the effect has been included in diluted earnings per share for the three and nine months ended September 30, 2014 and 2013.
On August 26, 2013, we entered into partial unwind agreements with the two counterparties to the 2015 notes hedges and the 2015 warrants. We agreed to settle 50% of both the outstanding call options (2015 notes hedges) and warrants on October 22, 2013, in net cash to be received from each counterparty. This coincides with the expiration of the exchange offer for the outstanding 2015 Notes discussed below. The agreements to settle the warrants in net cash required us to reclassify $41.9 million from equity to a derivative liability which represents the fair value of 50% of the outstanding warrants on the day that we entered into the unwind agreements. Subsequent to the reclassification, we are required to recognize the change in fair value of these warrants committed to the unwind agreements through net income.

Notes_Payable

Notes Payable	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Notes Payable	'
	Notes Payable
	The 5.25% Contingent Convertible Senior Notes due December 15, 2029 (the "2029 notes") are accounted for separately as a liability component and an equity component in the consolidated balance sheets. The carrying amount of the 2015 notes and the 2029 notes, the carrying amount of the equity component of the 2029 notes and the amount by which the if-converted value exceeds the outstanding principal for both the 2015 notes and the 2029 notes are as follows:
		September 30, 2014						December 31, 2013
		September 2015 Notes			December 2029 Notes			September 2015 Notes			December 2029 Notes
		(Dollars in thousands)
	Notes payable:
	Principal amount of liability component	$	45,450		$	32,142		$	91,951		$	68,373
	Unamortized discount	(1,898		)	(399		)	(6,623		)	(3,743		)
	Net carrying amount of liability component	$	43,552		$	31,743		$	85,328		$	64,630
	Additional paid-in capital:
	Carrying amount of equity component				$	4,325					$	15,586
	Amount by which the if-converted value exceeds principal	$	38,728		$	46,282		$	104,403		$	113,169
	The discount is being amortized over the expected lives of the notes, which is the maturity date of September 15, 2015 for the 2015 notes and the first put/call date of December 15, 2014 for the 2029 notes. The effective interest rates during the discount amortization periods are 8.9% and 11.9% on the 2015 notes and the 2029 notes, respectively. The interest cost recognized in operations for the convertible notes, inclusive of the coupon and amortization of the discount and debt issue costs, was $1.9 million and $7.6 million for the three and nine months ended September 30, 2014 compared to $7.1 million and $21.1 million for the same periods in 2013.
	We are required to include the dilutive effect of the 2029 notes in our diluted earnings per share calculation. Because these notes include a mandatory cash settlement feature for the principal amount, incremental dilutive shares will only exist when the fair value of our common stock at the end of the reporting period exceeds the conversion price per share of $9.57. At September 30, 2014 and 2013, the conversion premium of the 2029 notes was dilutive and the effect has been included in diluted earnings per share for the three and nine months ended September 30, 2014 and 2013. The 2015 notes and the 2015 notes hedges are excluded from the dilutive effect in our diluted earnings per share calculation as they are currently to be settled only in cash.
	During the nine months ended September 30, 2014, we extinguished $36.2 million principal amount of our 2029 notes and $46.5 million principal amount of our 2015 notes. Total consideration paid to holders of the 2029 notes consisted of $66.8 million in cash and and $23.2 million in shares of our common stock (946,793 shares). The carrying value of the 2029 notes at extinguishment was $34.6 million which resulted in a loss of $2.5 million on extinguishment of debt, net of income taxes. Total consideration paid to holders of the 2015 notes consisted of $52.9 million in cash and $33.1 million in shares of our common stock (1,496,664 shares). The carrying value of the 2015 notes at extinguishment was $43.8 million which resulted in a loss of $5.4 million, net of income taxes.
	Subsequent to September 30, 2014, we extinguished $23.1 million principal amount of our 2015 notes. Total consideration paid to holders of the 2015 notes consisted of $30.0 million in cash and $15.1 million in shares of our common stock (618,391 shares). The carrying value of the 2015 notes at extinguishment was $22.2 million which resulted in a loss of $1.1 million, net of income taxes.
	Under our $140 million four year unsecured revolving line of credit agreement, we are required to maintain a minimum risk-based capital ratio at our subsidiary, American Equity Investment Life Insurance Company ("American Equity Life"), of at least 275%, a maximum ratio of adjusted debt to total adjusted capital of 0.35, and a minimum level of statutory surplus at American Equity Life equal to the sum of 1) 80% of statutory surplus at September 30, 2013, 2) 50% of the statutory net income for each fiscal quarter ending after September 30, 2013, and 3) 50% of all capital contributed to American Equity Life after September 30, 2013. The agreement contains an accordion feature that allows us, on up to three occasions and subject to credit availability, to increase the credit facility by an additional $50 million in the aggregate. We also have the ability to extend the maturity date by an additional one year past the initial maturity date of November 22, 2017 with the consent of the extending banks. There are currently no guarantors of the credit facility, but certain of our subsidiaries must guarantee our obligations under the credit agreement if such subsidiaries guarantee other material amounts of our debt. No amounts were outstanding at September 30, 2014 and December 31, 2013.
	As part of our investment strategy, we enter into securities repurchase agreements (short-term collateralized borrowings). The maximum amount borrowed was $138.7 million and $258.6 million during the nine months ended September 30, 2014 and 2013, respectively. When we do borrow cash on these repurchase agreements, we pledge collateral in the form of debt securities with fair values approximately equal to the amount due and we use the cash to purchase debt securities ahead of the time we collect the cash from selling annuity policies to avoid a lag between the investment of funds and the obligation to credit interest to policyholders. We earn investment income on the securities purchased with these borrowings at a rate in excess of the cost of these borrowings. Such borrowings averaged $0.9 million and $9.4 million for the three and nine months ended September 30, 2014 compared to $131.5 million and $47.5 million for the three and nine months ended September 30, 2013. The weighted average interest rate on amounts due under repurchase agreements was 0.35% and 0.15% for the three and nine months ended September 30, 2014 compared to 0.17% and 0.18% for the three and nine months ended September 30, 2013.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	We are occasionally involved in litigation, both as a defendant and as a plaintiff. In addition, state regulatory bodies, such as state insurance departments, the SEC, FINRA, the Department of Labor, and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning our compliance with, among other things, insurance laws, securities laws, the Employee Retirement Income Security Act of 1974, as amended, and laws governing the activities of broker-dealers.
	In accordance with applicable accounting guidelines, we establish an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. As a litigation or regulatory matter is developing we, in conjunction with outside counsel, evaluate on an ongoing basis whether the matter presents a loss contingency that meets conditions indicating the need for accrual and/or disclosure, and if not the matter will continue to be monitored for further developments. If and when the loss contingency related to litigation or regulatory matters is deemed to be both probable and estimable, we will establish an accrued liability with respect to that matter and will continue to monitor the matter for further developments that may affect the amount of the accrued liability.
	In recent years, companies in the life insurance and annuity business have faced litigation, including class action lawsuits, alleging improper product design, improper sales practices and similar claims. We were a defendant in a purported class action, McCormack, et al. v. American Equity Investment Life Insurance Company, et al., in the United States District Court for the Central District of California, Western Division and Anagnostis v. American Equity, et al., coordinated in the Central District, entitled, In Re: American Equity Annuity Practices and Sales Litigation (complaint filed September 7, 2005) (the "Los Angeles Case"), involving allegations of improper sales practices and similar claims as described below.
	The Los Angeles Case was a consolidated action involving several lawsuits filed by putative class members seeking class action status for a national class of purchasers of annuities issued by us. The allegations generally attacked the suitability of sales of deferred annuity products to persons over the age of 65. The plaintiffs sought rescission and injunctive relief including restitution and disgorgement of profits on behalf of all class members under California Business & Professions Code section 17200 et seq. and Racketeer Influenced and Corrupt Organizations Act; compensatory damages for breach of fiduciary duty and aiding and abetting of breach of fiduciary duty; unjust enrichment and constructive trust; and other pecuniary damages under California Civil Code section 1750 and California Welfare & Institutions Codes section 15600 et seq. On July 30, 2013, the parties entered into a settlement agreement and stipulated to certification of the case as a class action for settlement purposes only. Notice of the terms of the settlement was mailed to the members of the class on October 7, 2013 and settlement claim forms were due from members of the class on or before December 6, 2013. On January 27, 2014, a hearing was held regarding the fairness of the settlement. On January 29, 2014, the District Court signed a final order approving the settlement and finding the settlement is fair and represents a complete resolution of all claims asserted on behalf of the class. On January 30, 2014, a final judgment was entered dismissing the case on the merits and with prejudice. On February 28, 2014, a member of the class filed an appeal of the District Court's approval of the terms of the settlement agreement with the United States Court of Appeals for the Ninth Circuit.
	We recorded an estimated litigation liability of $17.5 million during the third quarter of 2012 related to the Los Angeles Case. We increased our estimated litigation liability for this matter to $21.2 million during the fourth quarter of 2013 following the passage of the deadline for submission of claims by class members in the lawsuit and based upon information available at that time. However, we decreased the liability by $2.3 million in the first quarter of 2014 as additional information became available concerning the nature and magnitude of the claims received. In addition, during the first quarter of 2014, we paid $7.8 million in legal fees to the plaintiffs' counsel. The estimated litigation liability at September 30, 2014 is $11.1 million. While review of the claim forms has been stayed due to the appeal and it is difficult to predict the amount of the liabilities that will ultimately result from the completion of the claims process, the $11.1 million litigation liability represents our best estimate of probable loss with respect to this litigation. In light of the inherent uncertainties involved in the matter described above, there can be no assurance that such litigation, or any other pending or future litigation, will not have a material adverse effect on our business, financial condition, or results of operations.
	In addition to our commitments to fund mortgage loans, we have unfunded commitments at September 30, 2014 to limited partnerships of $18.6 million and to secured bank loans of $9.1 million.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	The following table sets forth the computation of earnings per common share and earnings per common share - assuming dilution:
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2014			2013		2014		2013
		(Dollars in thousands, except per share data)
	Numerator:
	Net income - numerator for earnings per common share	$	67,815		$	56,181	$	94,806	$	202,325
	Denominator:
	Weighted average common shares outstanding (1)	75,082,852			65,129,442		74,030,290		64,239,117
	Effect of dilutive securities:
	Convertible senior notes	1,982,089			6,601,347		2,485,974		6,601,347
	2015 warrants	1,230,020			1,388,826		1,730,077		462,942
	Stock options and deferred compensation agreements	1,115,927			1,440,101		1,185,973		1,155,670
	Restricted stock units	56,222			—		44,944		—
	Denominator for earnings per common share - assuming dilution	79,467,110			74,559,716		79,477,258		72,459,076
	Earnings per common share	$	0.9		$	0.86	$	1.28	$	3.15
	Earnings per common share - assuming dilution	$	0.85		$	0.75	$	1.19	$	2.79
	-1	Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.
	Options to purchase shares of our common stock that were outstanding during the respective periods indicated but were not included in the computation of diluted earnings per share because the options' exercise price was greater than the average market price of the common shares are as follows:
	Period		Number of	Range of
			Shares	Exercise Prices
				Minimum		Maximum
	Three months ended September 30, 2014		1,275,050	$24.79		$24.79
	Three months ended September 30, 2013		—	$—		$—
	Nine months ended September 30, 2014		1,275,050	$24.79		$24.79
	Nine months ended September 30, 2013		—	$—		$—

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
New Accounting Pronouncements, Policy	'
	Adopted Accounting Pronouncements
	There were no accounting pronouncements that were adopted during the current period.
Fair Values of Financial Instruments, Policy	'
	Fair value is the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. The objective of a fair value measurement is to determine that price for each financial instrument at each measurement date. We meet this objective using various methods of valuation that include market, income and cost approaches.
	We categorize our financial instruments into three levels of fair value hierarchy based on the priority of inputs used in determining fair value. The hierarchy defines the highest priority inputs (Level 1) as quoted prices in active markets for identical assets or liabilities. The lowest priority inputs (Level 3) are our own assumptions about what a market participant would use in determining fair value such as estimated future cash flows. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. We categorize financial assets and liabilities recorded at fair value in the consolidated balance sheets as follows:
	Level 1—	Quoted prices are available in active markets for identical financial instruments as of the reporting date. We do not adjust the quoted price for these financial instruments, even in situations where we hold a large position and a sale could reasonably impact the quoted price.
	Level 2—	Quoted prices in active markets for similar financial instruments, quoted prices for identical or similar financial instruments in markets that are not active; and models and other valuation methodologies using inputs other than quoted prices that are observable.
	Level 3—	Models and other valuation methodologies using significant inputs that are unobservable for financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in Level 3 are securities for which no market activity or data exists and for which we used discounted expected future cash flows with our own assumptions about what a market participant would use in determining fair value.
Investments, Policy	'
	We review and analyze all investments on an ongoing basis for changes in market interest rates and credit deterioration. This review process includes analyzing our ability to recover the amortized cost basis of each investment that has a fair value that is materially lower than its amortized cost and requires a high degree of management judgment and involves uncertainty. The evaluation of securities for other than temporary impairments is a quantitative and qualitative process, which is subject to risks and uncertainties.
	We have a policy and process to identify securities that could potentially have impairments that are other than temporary. This process involves monitoring market events and other items that could impact issuers. The evaluation includes but is not limited to such factors as:
	•	the length of time and the extent to which the fair value has been less than amortized cost or cost;
	•	whether the issuer is current on all payments and all contractual payments have been made as agreed;
	•	the remaining payment terms and the financial condition and near-term prospects of the issuer;
	•	the lack of ability to refinance due to liquidity problems in the credit market;
	•	the fair value of any underlying collateral;
	•	the existence of any credit protection available;
	•	our intent to sell and whether it is more likely than not we would be required to sell prior to recovery for debt securities;
	•	our assessment in the case of equity securities including perpetual preferred stocks with credit deterioration that the security cannot recover to cost in a reasonable period of time;
	•	our intent and ability to retain equity securities for a period of time sufficient to allow for recovery;
	•	consideration of rating agency actions; and
	•	changes in estimated cash flows of mortgage and asset backed securities.
	We determine whether other than temporary impairment losses should be recognized for debt and equity securities by assessing all facts and circumstances surrounding each security. Where the decline in fair value of debt securities is attributable to changes in market interest rates or to factors such as market volatility, liquidity and spread widening, and we anticipate recovery of all contractual or expected cash flows, we do not consider these investments to be other than temporarily impaired because we do not intend to sell these investments and it is not more likely than not we will be required to sell these investments before a recovery of amortized cost, which may be maturity. For equity securities, we recognize an impairment charge in the period in which we do not have the intent and ability to hold the securities until recovery of cost or we determine that the security will not recover to book value within a reasonable period of time. We determine what constitutes a reasonable period of time on a security-by-security basis by considering all the evidence available to us, including the magnitude of any unrealized loss and its duration.
	Other than temporary impairment losses on equity securities are recognized in operations. If we intend to sell a debt security or if it is more likely than not that we will be required to sell a debt security before recovery of its amortized cost basis, other than temporary impairment has occurred and the difference between amortized cost and fair value will be recognized as a loss in operations.
	If we do not intend to sell and it is not more likely than not we will be required to sell the debt security but also do not expect to recover the entire amortized cost basis of the security, an impairment loss would be recognized in operations in the amount of the expected credit loss. We determine the amount of expected credit loss by calculating the present value of the cash flows expected to be collected discounted at each security's acquisition yield based on our consideration of whether the security was of high credit quality at the time of acquisition. The difference between the present value of expected future cash flows and the amortized cost basis of the security is the amount of credit loss recognized in operations. The remaining amount of the other than temporary impairment is recognized in other comprehensive income (loss).
	The determination of the credit loss component of a mortgage backed security is based on a number of factors. The primary consideration in this evaluation process is the issuer's ability to meet current and future interest and principal payments as contractually stated at time of purchase. Our review of these securities includes an analysis of the cash flow modeling under various default scenarios considering independent third party benchmarks, the seniority of the specific tranche within the structure of the security, the composition of the collateral and the actual default, loss severity and prepayment experience exhibited. With the input of third party assumptions for default projections, loss severity and prepayment expectations, we evaluate the cash flow projections to determine whether the security is performing in accordance with its contractual obligation.
	We utilize the models from a leading structured product software specialist serving institutional investors. These models incorporate each security's seniority and cash flow structure. In circumstances where the analysis implies a potential for principal loss at some point in the future, we use the "best estimate" cash flow projection discounted at the security's effective yield at acquisition to determine the amount of our potential credit loss associated with this security. The discounted expected future cash flows equates to our expected recovery value. Any shortfall of the expected recovery when compared to the amortized cost of the security will be recorded as the credit loss component of other than temporary impairment.
	The cash flow modeling is performed on a security-by-security basis and incorporates actual cash flows on the residential mortgage backed securities through the current period, as well as the projection of remaining cash flows using a number of assumptions including default rates, prepayment rates and loss severity rates. The default curves we use are tailored to the Prime or Alt-A residential mortgage backed securities that we own, which assume lower default rates and loss severity for Prime securities versus Alt-A securities. These default curves are scaled higher or lower depending on factors such as current underlying mortgage loan performance, rating agency loss projections, loan to value ratios, geographic diversity, as well as other appropriate considerations.
	The determination of the credit loss component of a corporate bond (including redeemable preferred stocks) is based on the underlying financial performance of the issuer and their ability to meet their contractual obligations. Considerations in our evaluation include, but are not limited to, credit rating changes, financial statement and ratio analysis, changes in management, significant changes in credit spreads, breaches of financial covenants and a review of the economic outlook for the industry and markets in which they trade. In circumstances where an issuer appears unlikely to meet its future obligation, or the security's price decline is deemed other than temporary, an estimate of credit loss is determined. Credit loss is calculated using default probabilities as derived from the credit default swaps markets in conjunction with recovery rates derived from independent third party analysis or a best estimate of credit loss. This credit loss rate is then incorporated into a present value calculation based on an expected principal loss in the future discounted at the yield at the date of purchase and compared to amortized cost to determine the amount of credit loss associated with the security.
	In addition, for debt securities which we do not intend to sell and it is not more likely than not we will be required to sell, but our intent changes due to changes or events that could not have been reasonably anticipated, an other than temporary impairment charge is recognized. Once an impairment charge has been recorded, we then continue to review the other than temporarily impaired securities for appropriate valuation on an ongoing basis. Unrealized losses may be recognized in future periods through a charge to earnings, should we later conclude that the decline in fair value below amortized cost is other than temporary pursuant to our accounting policy described above. The use of different methodologies and assumptions to determine the fair value of investments and the timing and amount of impairments may have a material effect on the amounts presented in our consolidated financial statements.
Mortgage Loans on Real Estate, Allowance for Loan Losses, Policy	'
	We evaluate our mortgage loan portfolio for the establishment of a loan loss allowance by specific identification of impaired loans and the measurement of an estimated loss for each individual loan identified. A mortgage loan is impaired when it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. If we determine that the value of any specific mortgage loan is impaired, the carrying amount of the mortgage loan will be reduced to its fair value, based upon the present value of expected future cash flows from the loan discounted at the loan's effective interest rate, or the fair value of the underlying collateral less estimated costs to sell.
	In addition, we analyze the mortgage loan portfolio for the need of a general loan allowance for probable losses on all other loans on a quantitative and qualitative basis. The amount of the general loan allowance is based upon management's evaluation of the collectability of the loan portfolio, historical loss experience, delinquencies, credit concentrations, underwriting standards and national and local economic conditions.
	We rate each of the mortgage loans in our portfolio based on factors such as historical operating performance, loan to value ratio and economic outlook, among others. We calculate a loss factor to apply to each rating based on historical losses we have recognized in our mortgage loan portfolio. We apply the loss factors to the total principal outstanding within each rating category to determine an appropriate estimate of general loan loss allowance.
Mortgage Loans on Real Estate, Real Estate Acquired Through Foreclosure, Policy	'
	Charge-offs include allowances that have been established on loans that were satisfied by taking ownership of the collateral. When the property is taken it is recorded at the lower of the mortgage loan's carrying value or the property's fair value as a component of other investments and the mortgage loan is recorded as fully paid, with any allowance for credit loss that has been established charged off. Fair value of the real estate is determined by third party appraisal. Charge-offs also include situations where we have received a payment from the borrower in an amount greater than the carrying value of the loan (principal outstanding less specific allowance). We define collateral dependent loans as those mortgage loans for which we will depend on the value of the collateral real estate to satisfy the outstanding principal of the loan.
Mortgage Loans on Real Estate, Non-Accrual Loan Status, Policy	'
	The loans that are categorized as "in workout" consist of loans that we have agreed to lower or no mortgage payments for a period of time while the borrowers address cash flow and/or operational issues. The key features of these workouts have been determined on a loan-by-loan basis. Most of these loans are in a period of low cash flow due to tenants vacating their space or tenants requesting rent relief during difficult economic periods. Generally, we have allowed the borrower a six month interest only period and in some cases a twelve month period of interest only. Interest only workout loans are expected to return to their regular debt service payments after the interest only period. Interest only loans that are not fully amortizing will have a larger balance at their balloon date than originally contracted. Fully amortizing loans that are in interest only periods will have larger debt service payments for their remaining term due to lost principal payments during the interest only period. In limited circumstances we have allowed borrowers to pay the principal portion of their loan payment into an escrow account that can be used for capital and tenant improvements for a period of not more than twelve months. In these situations new loan amortization schedules are calculated based on the principal not collected during this twelve month workout period and larger payments are collected for the remaining term of each loan. In all cases, the original interest rate and maturity date have not been modified, and we have not forgiven any principal amounts.
	Mortgage loans are considered delinquent when they become 60 days past due. When loans become 90 days past due, become collateral dependent or enter a period with no debt service payments required we place them on non-accrual status and discontinue recognizing interest income. If payments are received on a delinquent loan, interest income is recognized to the extent it would have been recognized if normal principal and interest would have been received timely. If payments are received to bring a delinquent loan back to current we will resume accruing interest income on that loan.
Mortgage Loans on Real Estate, Troubled Debt Restructuring, Policy	'
	A Troubled Debt Restructuring ("TDR") is a situation where we have granted a concession to a borrower for economic or legal reasons related to the borrower's financial difficulties that we would not otherwise consider. A mortgage loan that has been granted new terms, including workout terms as described previously, would be considered a TDR if it meets conditions that would indicate a borrower is experiencing financial difficulty and the new terms constitute a concession on our part. We analyze all loans where we have agreed to workout terms and all loans that we have refinanced to determine if they meet the definition of a TDR. We consider the following factors in determining whether or not a borrower is experiencing financial difficulty:
	•	borrower is in default,
	•	borrower has declared bankruptcy,
	•	there is growing concern about the borrower's ability to continue as a going concern,
	•	borrower has insufficient cash flows to service debt,
	•	borrower's inability to obtain funds from other sources, and
	•	there is a breach of financial covenants by the borrower.
	If the borrower is determined to be in financial difficulty, we consider the following conditions to determine if the borrower was granted a concession:
	•	assets used to satisfy debt are less than our recorded investment,
	•	interest rate is modified,
	•	maturity date extension at an interest rate less than market rate,
	•	capitalization of interest,
	•	delaying principal and/or interest for a period of three months or more, and
	•	partial forgiveness of the balance or charge-off.
	Mortgage loan workouts, refinances or restructures that are classified as TDRs are individually evaluated and measured for impairment.
Commitments and Contingencies, Policy	'
	In accordance with applicable accounting guidelines, we establish an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. As a litigation or regulatory matter is developing we, in conjunction with outside counsel, evaluate on an ongoing basis whether the matter presents a loss contingency that meets conditions indicating the need for accrual and/or disclosure, and if not the matter will continue to be monitored for further developments. If and when the loss contingency related to litigation or regulatory matters is deemed to be both probable and estimable, we will establish an accrued liability with respect to that matter and will continue to monitor the matter for further developments that may affect the amount of the accrued liability.

Fair_Values_of_Financial_Instr1

Fair Values of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Carrying Amounts and Fair Values of Financial Instruments	'
	The following sets forth a comparison of the carrying amounts and fair values of our financial instruments:
		September 30, 2014						December 31, 2013
		Carrying			Fair Value			Carrying			Fair Value
		Amount						Amount
		(Dollars in thousands)
	Assets
	Fixed maturity securities:
	Available for sale	$	31,023,646		$	31,023,646		$	26,610,447		$	26,610,447
	Held for investment	76,387			71,499			76,255			60,840
	Equity securities, available for sale	7,756			7,756			7,778			7,778
	Mortgage loans on real estate	2,474,306			2,536,716			2,581,082			2,615,410
	Derivative instruments	744,033			744,033			856,050			856,050
	Other investments	261,590			267,414			192,198			193,343
	Cash and cash equivalents	788,800			788,800			897,529			897,529
	Coinsurance deposits	3,080,282			2,733,971			2,999,618			2,669,432
	Interest rate caps	3,644			3,644			6,103			6,103
	Interest rate swap	—			—			712			712
	2015 notes hedges	39,061			39,061			107,041			107,041
	Counterparty collateral	198,434			198,434			315,824			315,824
	Liabilities
	Policy benefit reserves	38,453,572			32,240,023			35,453,166			29,670,827
	Single premium immediate annuity (SPIA) benefit reserves	376,980			389,508			417,625			430,835
	Notes payable	475,295			546,548			549,958			699,435
	Subordinated debentures	246,193			238,530			246,050			234,959
	Amounts due under repurchase agreements	81,189			81,189			—			—
	2015 notes embedded conversion derivative	39,061			39,061			107,041			107,041
	Interest rate swap	1,252			1,252			—			—
Assets and Liabilities Measured at Fair Value on a Recurring Basis, By Fair Value Hierarchy Level	'
	Our assets and liabilities which are measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 are presented below based on the fair value hierarchy levels:
		Total			Quoted			Significant			Significant
		Fair Value			Prices in			Other			Unobservable
					Active			Observable			Inputs
					Markets			Inputs			(Level 3)
					(Level 1)			(Level 2)
		(Dollars in thousands)
	September 30, 2014
	Assets
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	37,711		$	4,204		$	33,507		$	—
	United States Government sponsored agencies	1,331,076			—			1,331,076			—
	United States municipalities, states and territories	3,608,592			—			3,608,592			—
	Foreign government obligations	192,519			—			192,519			—
	Corporate securities	20,516,410			25			20,516,385			—
	Residential mortgage backed securities	1,802,186			—			1,801,660			526
	Commercial mortgage backed securities	2,618,928			—			2,618,928			—
	Other asset backed securities	916,224			372			915,852			—
	Equity securities, available for sale: finance, insurance and real estate	7,756			—			7,756			—
	Derivative instruments	744,033			—			744,033			—
	Cash and cash equivalents	788,800			788,800			—			—
	Interest rate caps	3,644			—			3,644			—
	2015 notes hedges	39,061			—			39,061			—
	Counterparty collateral	198,434			—			198,434			—
		$	32,805,374		$	793,401		$	32,011,447		$	526
	Liabilities
	2015 notes embedded conversion derivative	$	39,061		$	—		$	39,061		$	—
	Interest rate swap	1,252			—			1,252			—
	Fixed index annuities - embedded derivatives	5,261,554			—			—			5,261,554
		$	5,301,867		$	—		$	40,313		$	5,261,554
	December 31, 2013
	Assets
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	42,925		$	4,805		$	38,120		$	—
	United States Government sponsored agencies	1,194,289			—			1,194,289			—
	United States municipalities, states and territories	3,306,743			—			3,306,743			—
	Foreign government obligations	91,557			—			91,557			—
	Corporate securities	17,233,037			20			17,233,017			—
	Residential mortgage backed securities	1,971,960			—			1,970,584			1,376
	Commercial mortgage backed securities	1,735,460			—			1,735,460			—
	Other asset backed securities	1,034,476			359			1,034,117			—
	Equity securities, available for sale: finance, insurance and real estate	7,778			—			7,778			—
	Derivative instruments	856,050			—			856,050			—
	Cash and cash equivalents	897,529			897,529			—			—
	Interest rate caps	6,103			—			6,103			—
	Interest rate swap	712			—			712			—
	2015 notes hedges	107,041			—			107,041			—
	Counterparty collateral	315,824			—			315,824			—
		$	28,801,484		$	902,713		$	27,897,395		$	1,376
	Liabilities
	2015 notes embedded conversion derivative	$	107,041		$	—		$	107,041		$	—
	Fixed index annuities - embedded derivatives	4,406,163			—			—			4,406,163
		$	4,513,204		$	—		$	107,041		$	4,406,163
Assets Measured at Fair Value on Recurring Basis, Level 3 Reconciliation	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(Dollars in thousands)
	Available for sale securities
	Beginning balance	$	668		$	1,541		$	1,376		$	1,812
	Principal returned	(68		)	(148		)	(260		)	(709		)
	Amortization of premium/accretion of discount	1			(18		)	(164		)	116
	Total gains (losses) (realized/unrealized):
	Included in other comprehensive income (loss)	127			(61		)	(19		)	95
	Included in operations	(202		)	—			(407		)	—
	Ending balance	$	526		$	1,314		$	526		$	1,314
Liabilities Measured at Fair Value on Recurring Basis, Level 3 Reconciliation	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(Dollars in thousands)
	Fixed index annuities - embedded derivatives
	Beginning balance	$	5,119,823		$	3,747,052		$	4,406,163		$	3,337,556
	Premiums less benefits	496,295			372,363			1,294,024			1,044,756
	Change in fair value, net	(354,564		)	(143,553		)	(438,633		)	(406,450		)
	Ending balance	$	5,261,554		$	3,975,862		$	5,261,554		$	3,975,862

Investments_Tables

Investments (Tables)	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
Schedule of Fixed Maturity and Equity Securities	'
	At September 30, 2014 and December 31, 2013, the amortized cost and fair value of fixed maturity securities and equity securities were as follows:
		Amortized				Gross				Gross				Fair Value
		Cost				Unrealized				Unrealized
						Gains				Losses
		(Dollars in thousands)
	30-Sep-14
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	37,910			$	291			$	(490	)		$	37,711
	United States Government sponsored agencies	1,338,476				24,207				(31,607		)		1,331,076
	United States municipalities, states and territories	3,266,015				346,044				(3,467		)		3,608,592
	Foreign government obligations	181,123				13,109				(1,713		)		192,519
	Corporate securities	19,316,396				1,334,353				(134,339		)		20,516,410
	Residential mortgage backed securities	1,684,196				129,298				(11,308		)		1,802,186
	Commercial mortgage backed securities	2,594,756				43,292				(19,120		)		2,618,928
	Other asset backed securities	882,438				38,971				(5,185		)		916,224
		$	29,301,310			$	1,929,565			$	(207,229	)		$	31,023,646
	Held for investment:
	Corporate security	$	76,387			$	—			$	(4,888	)		$	71,499
	Equity securities, available for sale:
	Finance, insurance, and real estate	$	7,507			$	249			$	—			$	7,756
	December 31, 2013
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	44,852			$	367			$	(2,294	)		$	42,925
	United States Government sponsored agencies	1,313,776				1,875				(121,362		)		1,194,289
	United States municipalities, states and territories	3,181,032				164,785				(39,074		)		3,306,743
	Foreign government obligations	86,112				8,907				(3,462		)		91,557
	Corporate securities	17,142,118				606,948				(516,029		)		17,233,037
	Residential mortgage backed securities	1,895,913				119,230				(43,183		)		1,971,960
	Commercial mortgage backed securities	1,821,988				3,287				(89,815		)		1,735,460
	Other asset backed securities	1,041,939				23,300				(30,763		)		1,034,476
		$	26,527,730			$	928,699			$	(845,982	)		$	26,610,447
	Held for investment:
	Corporate security	$	76,255			$	—			$	(15,415	)		$	60,840
	Equity securities, available for sale:
	Finance, insurance, and real estate	$	7,503			$	275			$	—			$	7,778
Schedule of Fixed Maturity Securities by Contractual Maturity Date	'
	The amortized cost and fair value of fixed maturity securities at September 30, 2014, by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. All of our mortgage and other asset backed securities provide for periodic payments throughout their lives and are shown below as separate lines.
		Available for sale								Held for investment
		Amortized				Fair Value				Amortized				Fair Value
		Cost								Cost
		(Dollars in thousands)
	Due in one year or less	$	48,059			$	49,602			$	—			$	—
	Due after one year through five years	1,246,185				1,402,686				—				—
	Due after five years through ten years	8,461,914				8,657,273				—				—
	Due after ten years through twenty years	6,962,630				7,443,830				—				—
	Due after twenty years	7,421,132				8,132,917				76,387				71,499
		24,139,920				25,686,308				76,387				71,499
	Residential mortgage backed securities	1,684,196				1,802,186				—				—
	Commercial mortgage backed securities	2,594,756				2,618,928				—				—
	Other asset backed securities	882,438				916,224				—				—
		$	29,301,310			$	31,023,646			$	76,387			$	71,499
Schedule of Components of Net Unrealized Gains on Available for Sale Fixed Maturity and Equity Securities Reported as Separate Component of Stockholders' Equity	'
	Net unrealized gains on available for sale fixed maturity securities and equity securities reported as a separate component of stockholders' equity were comprised of the following:
		September 30, 2014				31-Dec-13
		(Dollars in thousands)
	Net unrealized gains on available for sale fixed maturity securities and equity securities	$	1,722,585			$	82,992
	Adjustments for assumed changes in amortization of deferred policy acquisition costs and deferred sales inducements	(917,358		)		(46,588		)
	Deferred income tax valuation allowance reversal	22,534				22,534
	Deferred income tax expense	(281,830		)		(12,742		)
	Net unrealized gains reported as accumulated other comprehensive income	$	545,931			$	46,196
Schedule of Credit Quality of Fixed Maturity Security Portfolio by NAIC Designation	'
	The following table summarizes the credit quality, as determined by NAIC designation, of our fixed maturity portfolio as of the dates indicated:
			September 30, 2014								December 31, 2013
	NAIC		Amortized Cost				Fair Value				Amortized Cost				Fair Value
	Designation
			(Dollars in thousands)
	1		$	18,639,433			$	19,873,945			$	16,394,654			$	16,531,250
	2		10,160,844				10,657,187				9,630,251				9,598,399
	3		508,843				496,899				502,822				474,165
	4		67,643				66,563				74,493				66,078
	5		—				—				—				—
	6		934				551				1,765				1,395
			$	29,377,697			$	31,095,145			$	26,603,985			$	26,671,287
Schedule of Gross Unrealized Losses on Investments, By Category and Length of Time	'
	The following table shows our investments' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities (consisting of 628 and 1,047 securities, respectively) have been in a continuous unrealized loss position, at September 30, 2014 and December 31, 2013:
		Less than 12 months								12 months or more								Total
		Fair Value				Unrealized				Fair Value				Unrealized				Fair Value				Unrealized
						Losses								Losses								Losses
		(Dollars in thousands)
	September 30, 2014
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	506			$	—			$	32,815			$	(490	)		$	33,321			$	(490	)
	United States Government sponsored agencies	51,590				(380		)		605,930				(31,227		)		657,520				(31,607		)
	United States municipalities, states and territories	75,487				(644		)		71,363				(2,823		)		146,850				(3,467		)
	Foreign government obligations	15,057				(214		)		12,937				(1,499		)		27,994				(1,713		)
	Corporate securities:
	Finance, insurance and real estate	530,312				(6,352		)		451,461				(20,971		)		981,773				(27,323		)
	Manufacturing, construction and mining	1,451,461				(22,991		)		839,113				(35,082		)		2,290,574				(58,073		)
	Utilities and related sectors	387,420				(5,086		)		461,882				(21,632		)		849,302				(26,718		)
	Wholesale/retail trade	192,142				(3,723		)		99,888				(5,437		)		292,030				(9,160		)
	Services, media and other	284,105				(3,662		)		260,985				(9,403		)		545,090				(13,065		)
	Residential mortgage backed securities	148,490				(2,407		)		204,929				(8,901		)		353,419				(11,308		)
	Commercial mortgage backed securities	858,538				(7,695		)		429,678				(11,425		)		1,288,216				(19,120		)
	Other asset backed securities	48,967				(2,007		)		81,296				(3,178		)		130,263				(5,185		)
		$	4,044,075			$	(55,161	)		$	3,552,277			$	(152,068	)		$	7,596,352			$	(207,229	)
	Held for investment:
	Corporate security:
	Insurance	$	—			$	—			$	71,499			$	(4,888	)		$	71,499			$	(4,888	)
	December 31, 2013
	Fixed maturity securities:
	Available for sale:
	United States Government full faith and credit	$	32,969			$	(2,294	)		$	—			$	—			$	32,969			$	(2,294	)
	United States Government sponsored agencies	692,320				(88,671		)		467,309				(32,691		)		1,159,629				(121,362		)
	United States municipalities, states and territories	614,056				(39,074		)		—				—				614,056				(39,074		)
	Foreign government obligations	26,298				(3,462		)		—				—				26,298				(3,462		)
	Corporate securities:
	Finance, insurance and real estate	1,690,846				(92,426		)		153,037				(12,873		)		1,843,883				(105,299		)
	Manufacturing, construction and mining	3,370,775				(191,245		)		93,608				(16,088		)		3,464,383				(207,333		)
	Utilities and related sectors	1,829,868				(102,758		)		83,550				(11,547		)		1,913,418				(114,305		)
	Wholesale/retail trade	428,407				(25,189		)		17,687				(1,992		)		446,094				(27,181		)
	Services, media and other	834,699				(51,508		)		107,242				(10,403		)		941,941				(61,911		)
	Residential mortgage backed securities	309,599				(41,080		)		31,739				(2,103		)		341,338				(43,183		)
	Commercial mortgage backed securities	1,450,143				(83,814		)		51,099				(6,001		)		1,501,242				(89,815		)
	Other asset backed securities	356,018				(20,426		)		92,372				(10,337		)		448,390				(30,763		)
		$	11,635,998			$	(741,947	)		$	1,097,643			$	(104,035	)		$	12,733,641			$	(845,982	)
	Held for investment:
	Corporate security:
	Insurance	$	—			$	—			$	60,840			$	(15,415	)		$	60,840			$	(15,415	)
Schedule of Changes in Net Unrealized Gains/Losses on Investments	'
	Changes in net unrealized gains on investments for the three and nine months ended September 30, 2014 and 2013 are as follows:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
		(Dollars in thousands)
	Fixed maturity securities held for investment carried at amortized cost	$	4,883			$	(449	)		$	10,527			$	(802	)
	Investments carried at fair value:
	Fixed maturity securities, available for sale	$	(54,291	)		$	(276,793	)		$	1,639,619			$	(1,735,347	)
	Equity securities, available for sale	(7		)		(84		)		(26		)		(8,033		)
		(54,298		)		(276,877		)		1,639,593				(1,743,380		)
	Adjustment for effect on other balance sheet accounts:
	Deferred policy acquisition costs and deferred sales inducements	38,699				152,944				(870,770		)		938,637
	Deferred income tax asset/liability	5,459				43,378				(269,088		)		281,661
		44,158				196,322				(1,139,858		)		1,220,298
	Change in net unrealized gains on investments carried at fair value	$	(10,140	)		$	(80,555	)		$	499,735			$	(523,082	)
Net Realized Gains (Losses) on Investments	'
	Net realized gains (losses) on investments, excluding net OTTI losses for the three and nine months ended September 30, 2014 and 2013, are as follows:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
		(Dollars in thousands)
	Available for sale fixed maturity securities:
	Gross realized gains	$	179			$	3,965			$	1,536			$	24,608
	Gross realized losses	(148		)		(2,096		)		(910		)		(5,106		)
		31				1,869				626				19,502
	Available for sale equity securities:
	Gross realized gains	—				—				—				9,571
	Other investments:
	Gain on sale of real estate	455				201				1,493				1,505
	Loss on sale of real estate	—				(278		)		(231		)		(744		)
	Impairment losses on real estate	(1,436		)		(678		)		(2,235		)		(823		)
		(981		)		(755		)		(973		)		(62		)
	Mortgage loans on real estate:
	Increase in allowance for credit losses	(2,240		)		(3,191		)		(5,787		)		(4,814		)
		$	(3,190	)		$	(2,077	)		$	(6,134	)		$	24,197
Significant Assumptions Used to Determine the Credit Loss Component of Other Than Temporary Impairment on Residential Mortgage Backed Securities	'
	The following table presents the range of significant assumptions used to determine the credit loss component of other than temporary impairments we have recognized on residential mortgage backed securities for the nine months ended September 30, 2014 and 2013, which are all senior level tranches within the structure of the securities:
					Discount Rate						Default Rate						Loss Severity
	Sector		Vintage		Min			Max			Min			Max			Min			Max
	Nine months ended September 30, 2014
	Prime		2005		7.5	%		7.5	%		15	%		15	%		50	%		50	%
			2006		6.5	%		7.4	%		11	%		12	%		50	%		50	%
			2007		7	%		7	%		14	%		14	%		55	%		55	%
	Alt-A		2005		5.6	%		6.4	%		87	%		89	%		2	%		2	%
	Nine months ended September 30, 2013
	Prime		2003		5.1	%		5.1	%		2	%		2	%		30	%		30	%
			2005		6.5	%		7.7	%		8	%		18	%		50	%		65	%
			2006		6	%		6.9	%		9	%		16	%		50	%		50	%
			2007		6.2	%		6.7	%		11	%		25	%		40	%		60	%
			2008		6.6	%		6.6	%		16	%		16	%		45	%		45	%
			2009		6.8	%		6.8	%		17	%		17	%		60	%		60	%
	Alt-A		2005		5.6	%		8.7	%		15	%		81	%		2	%		65	%
			2007		6.2	%		6.9	%		38	%		52	%		60	%		65	%
Other Than Temporary Impairment by Asset Type	'
	The following table summarizes other than temporary impairments for the three and nine months ended September 30, 2014 and 2013, by asset type:
		Number		Total OTTI				Portion of OTTI				Net OTTI
		of		Losses				Losses				Losses
		Securities						Recognized				Recognized in
								from Other				Operations
								Comprehensive
								Income
				(Dollars in thousands)
	Three months ended September 30, 2014
	Fixed maturity securities, available for sale:
	Residential mortgage backed securities	3		$	—			$	(564	)		$	(564	)
	Three months ended September 30, 2013
	Fixed maturity securities, available for sale:
	Residential mortgage backed securities	2		$	—			$	(222	)		$	(222	)
	Nine months ended September 30, 2014
	Fixed maturity securities, available for sale:
	Residential mortgage backed securities	6		$	—			$	(2,063	)		$	(2,063	)
	Nine months ended September 30, 2013
	Fixed maturity securities, available for sale:
	United States Government sponsored agencies	2		$	(2,775	)		$	—			$	(2,775	)
	Corporate securities:
	Industrial	1		(1,761		)		—				(1,761		)
	Residential mortgage backed securities	6		—				(1,270		)		(1,270		)
	Equity security, available for sale:
	Industrial	1		(428		)		—				(428		)
		10		$	(4,964	)		$	(1,270	)		$	(6,234	)
Other Than Temporary Impairment, Credit Losses Recognized in Earnings	'
	The cumulative portion of other than temporary impairments determined to be credit losses which have been recognized in operations for debt securities are summarized as follows:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
		(Dollars in thousands)
	Cumulative credit loss at beginning of period	$	(127,459	)		$	(128,513	)		$	(125,960	)		$	(134,027	)
	Credit losses on securities for which OTTI has not previously been recognized	—				—				—				(4,536		)
	Additional credit losses on securities for which OTTI has previously been recognized	(564		)		(222		)		(2,063		)		(1,270		)
	Accumulated losses on securities that were disposed of during the period	—				2,775				—				13,873
	Cumulative credit loss at end of period	$	(128,023	)		$	(125,960	)		$	(128,023	)		$	(125,960	)
Schedule of Other Than Temporary Impairment Losses, Investments	'
	The following table summarizes the cumulative noncredit portion of OTTI and the change in fair value since recognition of OTTI, both of which were recognized in other comprehensive income (loss), by major type of security, for securities that are part of our investment portfolio at September 30, 2014 and December 31, 2013:
		Amortized Cost				OTTI				Change in Fair				Fair Value
						Recognized in				Value Since
						Other				OTTI was
						Comprehensive				Recognized
						Income
		(Dollars in thousands)
	September 30, 2014
	Fixed maturity securities, available for sale:
	Corporate securities	$	—			$	—			$	25			$	25
	Residential mortgage backed securities	597,409				(174,271		)		217,197				640,335
		$	597,409			$	(174,271	)		$	217,222			$	640,360
	December 31, 2013
	Fixed maturity securities, available for sale:
	Corporate securities	$	—			$	—			$	20			$	20
	Residential mortgage backed securities	679,265				(176,334		)		216,061				718,992
		$	679,265			$	(176,334	)		$	216,081			$	719,012

Mortgage_Loans_on_Real_Estate_

Mortgage Loans on Real Estate (Tables)	9 Months Ended
	Sep. 30, 2014
Mortgage Loans on Real Estate [Abstract]	'
Summary of Mortgage Loan Portfolio	'
	Our mortgage loan portfolio, summarized in the following table, totaled $2.5 billion at September 30, 2014 and $2.6 billion at December 31, 2013, with commitments outstanding of $55.9 million at September 30, 2014.
		September 30, 2014				December 31, 2013
		(Dollars in thousands)
	Principal outstanding	$	2,502,703			$	2,607,698
	Loan loss allowance	(27,864		)		(26,047		)
	Deferred prepayment fees	(533		)		(569		)
	Carrying value	$	2,474,306			$	2,581,082
Mortgage Loan Portfolio Summarized by Geographic Region and Property Type	'
	The mortgage loan portfolio is summarized by geographic region and property type as follows:
		September 30, 2014							December 31, 2013
		Principal				Percent			Principal				Percent
		(Dollars in thousands)
	Geographic distribution
	East	$	751,859			30	%		$	765,717			29.4	%
	Middle Atlantic	143,949				5.8	%		156,489				6	%
	Mountain	307,393				12.3	%		356,246				13.7	%
	New England	14,415				0.6	%		21,324				0.8	%
	Pacific	290,794				11.6	%		317,431				12.2	%
	South Atlantic	490,945				19.6	%		483,852				18.5	%
	West North Central	335,124				13.4	%		351,794				13.5	%
	West South Central	168,224				6.7	%		154,845				5.9	%
		$	2,502,703			100	%		$	2,607,698			100	%
	Property type distribution
	Office	$	517,387			20.7	%		$	590,414			22.6	%
	Medical Office	93,834				3.7	%		125,703				4.8	%
	Retail	719,554				28.7	%		711,364				27.3	%
	Industrial/Warehouse	675,131				27	%		673,449				25.8	%
	Hotel	34,615				1.4	%		61,574				2.4	%
	Apartment	332,694				13.3	%		291,823				11.2	%
	Mixed use/other	129,488				5.2	%		153,371				5.9	%
		$	2,502,703			100	%		$	2,607,698			100	%
Rollforward of Allowance for Credit Losses	'
	The following tables present a rollforward of our specific and general valuation allowances for mortgage loans on real estate:
		Three Months Ended								Three Months Ended
		30-Sep-14								30-Sep-13
		Specific				General Allowance				Specific				General Allowance
		Allowance								Allowance
		(Dollars in thousands)
	Beginning allowance balance	$	(17,282	)		$	(9,300	)		$	(21,176	)		$	(10,500	)
	Charge-offs	958				—				3,749				—
	Change in provision for credit losses	(1,040		)		(1,200		)		(2,691		)		(500		)
	Ending allowance balance	$	(17,364	)		$	(10,500	)		$	(20,118	)		$	(11,000	)
		Nine Months Ended								Nine Months Ended
		30-Sep-14								30-Sep-13
		Specific				General Allowance				Specific				General Allowance
		Allowance								Allowance
		(Dollars in thousands)
	Beginning allowance balance	$	(16,847	)		$	(9,200	)		$	(23,134	)		$	(11,100	)
	Charge-offs	3,715				—				7,930				—
	Recoveries	255				—				—				—
	Change in provision for credit losses	(4,487		)		(1,300		)		(4,914		)		100
	Ending allowance balance	$	(17,364	)		$	(10,500	)		$	(20,118	)		$	(11,000	)
Impaired Mortgage Loans on Real Estate by Basis of Impairment	'
	The following table presents the total outstanding principal of loans evaluated for impairment by basis of impairment method:
		September 30, 2014				December 31, 2013
		(Dollars in thousands)
	Individually evaluated for impairment	$	37,954			$	47,018
	Collectively evaluated for impairment	2,464,749				2,560,680
	Total loans evaluated for impairment	$	2,502,703			$	2,607,698
Real Estate Acquired Via Foreclosure or Deed In Lieu	'
	The following table summarizes the activity in the real estate owned which was obtained in satisfaction of mortgage loans on real estate:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
		(Dollars in thousands)
	Real estate owned at beginning of period	$	24,606			$	26,609			$	22,844			$	33,172
	Real estate acquired in satisfaction of mortgage loans	1,748				5,441				11,755				6,285
	Additions	—				52				—				532
	Sales	(2,431		)		(5,832		)		(9,579		)		(13,245		)
	Impairments	(1,436		)		(678		)		(2,235		)		(823		)
	Depreciation	(153		)		(159		)		(451		)		(488		)
	Real estate owned at end of period	$	22,334			$	25,433			$	22,334			$	25,433
Mortgage Loans By Credit Quality Indicator	'
	We analyze credit risk of our mortgage loans by analyzing all available evidence on loans that are delinquent and loans that are in a workout period.
		September 30, 2014				December 31, 2013
		(Dollars in thousands)
	Credit Exposure--By Payment Activity
	Performing	$	2,490,059			$	2,593,276
	In workout	—				6,248
	Delinquent	6,032				—
	Collateral dependent	6,612				8,174
		$	2,502,703			$	2,607,698
Aging of Financing Receivables	'
	Aging of financing receivables is summarized in the following table, with loans in a "workout" period as of the reporting date considered current if payments are current in accordance with agreed upon terms:
		30 - 59 Days				60 - 89 Days				90 Days and Over				Total Past Due			Current		Collateral Dependent Receivables		Total Financing Receivables
		(Dollars in thousands)
	Commercial Mortgage Loans
	30-Sep-14	$	2,484			$	6,032			$	—			$	8,516		$	2,487,575	$	6,612	$	2,502,703
	31-Dec-13	$	—			$	—			$	—			$	—		$	2,599,524	$	8,174	$	2,607,698
Impaired Financing Receivables	'
	Financing receivables summarized in the following two tables represent all loans that we are either not currently collecting, or those we feel it is probable we will not collect, all amounts due according to the contractual terms of the loan agreements (all loans that we have worked with the borrower to alleviate short-term cash flow issues, loans delinquent for more than 60 days at the reporting date, loans we have determined to be collateral dependent and loans that we have recorded specific impairments on that we feel may continue to have performance issues).
		Recorded Investment				Unpaid Principal Balance				Related Allowance
		(Dollars in thousands)
	September 30, 2014
	Mortgage loans with an allowance	$	20,590			$	37,954			$	(17,364	)
	Mortgage loans with no related allowance	2,657				2,657				—
		$	23,247			$	40,611			$	(17,364	)
	December 31, 2013
	Mortgage loans with an allowance	$	30,171			$	47,018			$	(16,847	)
	Mortgage loans with no related allowance	3,264				3,264				—
		$	33,435			$	50,282			$	(16,847	)
		Average Recorded Investment				Interest Income Recognized
		(Dollars in thousands)
	Three months ended September 30, 2014
	Mortgage loans with an allowance	$	22,157			$	539
	Mortgage loans with no related allowance	2,656				—
		$	24,813			$	539
	Three months ended September 30, 2013
	Mortgage loans with an allowance	$	31,488			$	1,135
	Mortgage loans with no related allowance	18,781				366
		$	50,269			$	1,501
	Nine months ended September 30, 2014
	Mortgage loans with an allowance	$	23,580			$	1,696
	Mortgage loans with no related allowance	2,656				—
		$	26,236			$	1,696
	Nine months ended September 30, 2013
	Mortgage loans with an allowance	$	32,315			$	2,069
	Mortgage loans with no related allowance	18,822				797
		$	51,137			$	2,866
Troubled Debt Restructurings on Financing Receivables	'
	Mortgage loan workouts, refinances or restructures that are classified as TDRs are individually evaluated and measured for impairment. A summary of mortgage loans on commercial real estate with outstanding principal at September 30, 2014 and December 31, 2013 that we determined to be TDRs are as follows:
	Geographic Region		Number of TDRs		Principal Balance Outstanding				Specific Loan Loss Allowance				Net Carrying Amount
					(Dollars in thousands)
	September 30, 2014
	South Atlantic		6		$	11,747			$	(3,319	)		$	8,428
	East North Central		1		2,196				(467		)		1,729
	West North Central		1		1,894				(857		)		1,037
			8		$	15,837			$	(4,643	)		$	11,194
	December 31, 2013
	East		1		$	3,712			$	(949	)		$	2,763
	Mountain		7		22,140				(329		)		21,811
	South Atlantic		7		13,930				(4,177		)		9,753
	East North Central		1		2,219				(467		)		1,752
	West North Central		1		1,938				(475		)		1,463
	West South Central		1		1,714				(256		)		1,458
			18		$	45,653			$	(6,653	)		$	39,000

Derivative_Instruments_Tables

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair Value of Derivative Instruments as Presented in the Consolidated Balance Sheets	'
	The fair value of our derivative instruments, including derivative instruments embedded in fixed index annuity contracts and derivative instruments embedded in a convertible debt issue, presented in the consolidated balance sheets are as follows:
		September 30,				December 31,
		2014				2013
		(Dollars in thousands)
	Assets
	Derivative instruments
	Call options	$	744,033			$	856,050
	Other assets
	2015 notes hedges	39,061				107,041
	Interest rate caps	3,644				6,103
	Interest rate swap	—				712
		$	786,738			$	969,906
	Liabilities
	Policy benefit reserves - annuity products
	Fixed index annuities - embedded derivatives	$	5,261,554			$	4,406,163
	Other liabilities
	2015 notes embedded conversion derivative	39,061				107,041
	Interest rate swap	1,252				—
		$	5,301,867			$	4,513,204
Schedule of Changes in Fair Value of Derivative Instruments	'
	The changes in fair value of derivatives included in the unaudited consolidated statements of operations are as follows:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014			2013
		(Dollars in thousands)
	Change in fair value of derivatives:
	Call options	$	45,931			$	129,428			$	391,173		$	532,282
	2015 notes hedges	(6,823		)		73,504				(27,124		)	101,799
	2015 warrants	—				(9,199		)		—			(9,199		)
	Interest rate swap	254				(496		)		(2,996		)	4,039
	Interest rate caps	(144		)		(209		)		(2,459		)	2,109
		$	39,218			$	193,028			$	358,594		$	631,030
	Change in fair value of embedded derivatives:
	2015 notes embedded conversion derivative	$	(6,823	)		$	75,750			$	(31,356	)	$	104,045
	Fixed index annuities—embedded derivatives	(188,383		)		(39,526		)		9,704			(112,958		)
		$	(195,206	)		$	36,224			$	(21,652	)	$	(8,913	)
Schedule of Call Options by Counterparty	'
	The notional amount and fair value of our call options by counterparty and each counterparty's current credit rating are as follows:
							September 30, 2014							December 31, 2013
	Counterparty		Credit Rating		Credit Rating (Moody's)		Notional				Fair Value			Notional			Fair Value
			(S&P)				Amount							Amount
							(Dollars in thousands)
	Bank of America		A		A2		$	2,246,624			$	72,983		$	1,683,911		$	73,836
	Barclays		A		A2		3,623,829				103,851			2,396,839			113,513
	BNP Paribas		A+		A1		1,396,822				47,466			1,382,661			38,849
	Citibank, N.A.		A		A2		3,140,186				104,580			1,536,547			72,310
	Credit Suisse		A		A1		2,331,074				76,262			4,060,352			193,304
	Deutsche Bank		A		A3		1,896,694				48,434			747,587			41,074
	HSBC		AA-		A1		119,798				6,223			200,011			10,518
	J.P. Morgan		A+		Aa3		447,612				15,838			786,429			36,863
	Morgan Stanley		A-		Baa2		2,876,299				121,615			3,546,487			150,437
	Royal Bank of Canada		AA-		Aa3		1,383,324				42,089			714,941			25,140
	Wells Fargo		AA-		Aa3		3,282,302				104,692			2,221,874			100,206
							$	22,744,564			$	744,033		$	19,277,639		$	856,050
Schedule of Interest Rate Derivatives	'
	Details regarding the interest rate swap are as follows:
			Notional						Pay				September 30, 2014			December 31, 2013
	Maturity Date		Amount				Receive Rate		Rate			Counterparty	Fair Value			Fair Value
													(Dollars in thousands)
	15-Mar-21		$	85,500			LIBOR		2.415	%		SunTrust	$	(1,252	)	$	712
	Details regarding the interest rate caps are as follows:
			Notional						Cap				September 30, 2014			December 31, 2013
	Maturity Date		Amount				Floating Rate		Rate			Counterparty	Fair Value			Fair Value
													(Dollars in thousands)
	7-Jul-21		$	40,000			LIBOR		2.5	%		SunTrust	$	1,835		$	3,073
	8-Jul-21		12,000				LIBOR		2.5	%		SunTrust	551			923
	29-Jul-21		27,000				LIBOR		2.5	%		SunTrust	1,258			2,107
			$	79,000									$	3,644		$	6,103

Notes_Payable_Tables

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Liability and Equity Components of Convertible Senior Notes	'
	The 5.25% Contingent Convertible Senior Notes due December 15, 2029 (the "2029 notes") are accounted for separately as a liability component and an equity component in the consolidated balance sheets. The carrying amount of the 2015 notes and the 2029 notes, the carrying amount of the equity component of the 2029 notes and the amount by which the if-converted value exceeds the outstanding principal for both the 2015 notes and the 2029 notes are as follows:
		September 30, 2014						December 31, 2013
		September 2015 Notes			December 2029 Notes			September 2015 Notes			December 2029 Notes
		(Dollars in thousands)
	Notes payable:
	Principal amount of liability component	$	45,450		$	32,142		$	91,951		$	68,373
	Unamortized discount	(1,898		)	(399		)	(6,623		)	(3,743		)
	Net carrying amount of liability component	$	43,552		$	31,743		$	85,328		$	64,630
	Additional paid-in capital:
	Carrying amount of equity component				$	4,325					$	15,586
	Amount by which the if-converted value exceeds principal	$	38,728		$	46,282		$	104,403		$	113,169

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following table sets forth the computation of earnings per common share and earnings per common share - assuming dilution:
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2014			2013		2014		2013
		(Dollars in thousands, except per share data)
	Numerator:
	Net income - numerator for earnings per common share	$	67,815		$	56,181	$	94,806	$	202,325
	Denominator:
	Weighted average common shares outstanding (1)	75,082,852			65,129,442		74,030,290		64,239,117
	Effect of dilutive securities:
	Convertible senior notes	1,982,089			6,601,347		2,485,974		6,601,347
	2015 warrants	1,230,020			1,388,826		1,730,077		462,942
	Stock options and deferred compensation agreements	1,115,927			1,440,101		1,185,973		1,155,670
	Restricted stock units	56,222			—		44,944		—
	Denominator for earnings per common share - assuming dilution	79,467,110			74,559,716		79,477,258		72,459,076
	Earnings per common share	$	0.9		$	0.86	$	1.28	$	3.15
	Earnings per common share - assuming dilution	$	0.85		$	0.75	$	1.19	$	2.79
	-1	Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
	Options to purchase shares of our common stock that were outstanding during the respective periods indicated but were not included in the computation of diluted earnings per share because the options' exercise price was greater than the average market price of the common shares are as follows:
	Period		Number of	Range of
			Shares	Exercise Prices
				Minimum		Maximum
	Three months ended September 30, 2014		1,275,050	$24.79		$24.79
	Three months ended September 30, 2013		—	$—		$—
	Nine months ended September 30, 2014		1,275,050	$24.79		$24.79
	Nine months ended September 30, 2013		—	$—		$—

Significant_Accounting_Policie2

Significant Accounting Policies (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Premiums and other considerations	$6,043	$9,874	$22,497	$34,508
Insurance policy benefits and change in future policy benefits	9,109	11,264	30,191	39,792
Interest sensitive and index product benefits	429,415	325,740	1,114,381	881,910
Restatement Adjustment [Member]	'	'	'	'
Premiums and other considerations	'	7,400	'	26,400
Insurance policy benefits and change in future policy benefits	'	9,600	'	34,300
Interest sensitive and index product benefits	'	($2,200)	'	($7,900)

Fair_Values_of_Financial_Instr2

Fair Values of Financial Instruments (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Assets, Level 1 to Level 2 transfers, amount	$0	'	$0	'	$0
Liabilities, Level 1 to Level 2 transfers, amount	0	'	0	'	0
Assets, Level 2 to Level 1 transfers, amount	0	'	0	'	0
Liabilities, Level 2 to Level 1 transfers, amount	0	'	0	'	0
Assets, transfers into Level 3, amount	0	0	0	0	'
Liabilities, transfers into Level 3, amount	0	0	0	0	'
Assets, transfers out of Level 3, amount	0	0	0	0	'
Liabilities, transfers out of Level 3, amount	0	0	0	0	'
Other investments	283,924,000	'	283,924,000	'	215,042,000
Fair Value, Measurements, Recurring [Member]	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Other investments	0	'	0	'	'
Fair Value, Sensitivity, Increase in Discount Rate by 10 Percent [Member]	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Fair value, sensitivity, discount rate adjustment (basis points)	100	'	100	'	'
Fixed index annuities embedded derivative, adjustment due to change in discount rate	'	'	-355,900,000	'	'
Deferred policy scquisition costs and deferred sales inducements, combined balance, adjustment due to change in discount rate	'	'	-213,900,000	'	'
Fair Value, Sensitivity, Decrease in Discount Rate by 10 Percent [Member]	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Fair value, sensitivity, discount rate adjustment (basis points)	100	'	100	'	'
Fixed index annuities embedded derivative, adjustment due to change in discount rate	'	'	397,800,000	'	'
Deferred policy scquisition costs and deferred sales inducements, combined balance, adjustment due to change in discount rate	'	'	$231,600,000	'	'

Fair_Values_of_Financial_Instr3

Fair Values of Financial Instruments (Fair Values and Carrying Amounts of Financial Instruments) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Held for investment	$71,499	$60,840
Equity securities, available for sale	7,756	7,778
Mortgage loans on real estate	2,474,306	2,581,082
Other investments	283,924	215,042
Coinsurance deposits	3,080,282	2,999,618
Liabilities	'	'
Policy benefit reserves	38,790,456	35,789,655
Carrying Amount [Member]	'	'
Assets	'	'
Mortgage loans on real estate	2,474,306	2,581,082
Derivative instruments	744,033	856,050
Other investments	261,590	192,198
Cash and cash equivalents	788,800	897,529
Coinsurance deposits	3,080,282	2,999,618
Counterparty collateral	198,434	315,824
Liabilities	'	'
Policy benefit reserves	38,453,572	35,453,166
Single premium immediate annuity (SPIA) benefit reserves	376,980	417,625
Notes payable	475,295	549,958
Subordinated debentures	246,193	246,050
Amounts due under repurchase agreements	81,189	0
Carrying Amount [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Derivative assets	3,644	6,103
Carrying Amount [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Derivative assets	0	712
Liabilities	'	'
Interest rate swap	1,252	0
Carrying Amount [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	39,061	107,041
Carrying Amount [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	39,061	107,041
Carrying Amount [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	31,023,646	26,610,447
Held for investment	76,387	76,255
Carrying Amount [Member] | Equity Securities [Member]	'	'
Assets	'	'
Equity securities, available for sale	7,756	7,778
Fair Value [Member]	'	'
Assets	'	'
Mortgage loans on real estate	2,536,716	2,615,410
Derivative instruments	744,033	856,050
Other investments	267,414	193,343
Cash and cash equivalents	788,800	897,529
Coinsurance deposits	2,733,971	2,669,432
Counterparty collateral	198,434	315,824
Liabilities	'	'
Policy benefit reserves	32,240,023	29,670,827
Single premium immediate annuity (SPIA) benefit reserves	389,508	430,835
Notes payable	546,548	699,435
Subordinated debentures	238,530	234,959
Amounts due under repurchase agreements	81,189	0
Fair Value [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Derivative assets	3,644	6,103
Fair Value [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Derivative assets	0	712
Liabilities	'	'
Interest rate swap	1,252	0
Fair Value [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	39,061	107,041
Fair Value [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	39,061	107,041
Fair Value [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	31,023,646	26,610,447
Held for investment	71,499	60,840
Fair Value [Member] | Equity Securities [Member]	'	'
Assets	'	'
Equity securities, available for sale	$7,756	$7,778

Fair_Values_of_Financial_Instr4

Fair Values of Financial Instruments (Assets and Liabilities Measured on a Recurring Basis by Fair Value Hierarchy) (Details) (Fair Value, Measurements, Recurring [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total Fair Value [Member]	'	'
Assets	'	'
Derivative assets	$744,033	$856,050
Cash and cash equivalents	788,800	897,529
Counterparty collateral	198,434	315,824
Assets	32,805,374	28,801,484
Liabilities	'	'
Fixed index annuities - embedded derivatives	5,261,554	4,406,163
Liabilities	5,301,867	4,513,204
Total Fair Value [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Interest rate derivative assets	3,644	6,103
Total Fair Value [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Interest rate derivative assets	'	712
Liabilities	'	'
Interest rate derivative liabilities	1,252	'
Total Fair Value [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	39,061	107,041
Total Fair Value [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	39,061	107,041
Total Fair Value [Member] | Equity Securities [Member]	'	'
Assets	'	'
Available for sale securities	7,756	7,778
Total Fair Value [Member] | United States Government Full Faith and Credit [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	37,711	42,925
Total Fair Value [Member] | United States Government Sponsored Agencies [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	1,331,076	1,194,289
Total Fair Value [Member] | United States Municipalities, States and Territories [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	3,608,592	3,306,743
Total Fair Value [Member] | Foreign Government Obligations [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	192,519	91,557
Total Fair Value [Member] | Corporate Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	20,516,410	17,233,037
Total Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	1,802,186	1,971,960
Total Fair Value [Member] | Commercial Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	2,618,928	1,735,460
Total Fair Value [Member] | Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	916,224	1,034,476
Quoted Prices in Active Markets (Level 1) [Member]	'	'
Assets	'	'
Derivative assets	0	0
Cash and cash equivalents	788,800	897,529
Counterparty collateral	0	0
Assets	793,401	902,713
Liabilities	'	'
Fixed index annuities - embedded derivatives	0	0
Liabilities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Interest rate derivative assets	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Interest rate derivative assets	'	0
Liabilities	'	'
Interest rate derivative liabilities	0	'
Quoted Prices in Active Markets (Level 1) [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	0	0
Quoted Prices in Active Markets (Level 1) [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Equity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | United States Government Full Faith and Credit [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	4,204	4,805
Quoted Prices in Active Markets (Level 1) [Member] | United States Government Sponsored Agencies [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | United States Municipalities, States and Territories [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Foreign Government Obligations [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Corporate Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	25	20
Quoted Prices in Active Markets (Level 1) [Member] | Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Commercial Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	372	359
Significant Other Observable Inputs (Level 2) [Member]	'	'
Assets	'	'
Derivative assets	744,033	856,050
Cash and cash equivalents	0	0
Counterparty collateral	198,434	315,824
Assets	32,011,447	27,897,395
Liabilities	'	'
Fixed index annuities - embedded derivatives	0	0
Liabilities	40,313	107,041
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Interest rate derivative assets	3,644	6,103
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Interest rate derivative assets	'	712
Liabilities	'	'
Interest rate derivative liabilities	1,252	'
Significant Other Observable Inputs (Level 2) [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	39,061	107,041
Significant Other Observable Inputs (Level 2) [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	39,061	107,041
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]	'	'
Assets	'	'
Available for sale securities	7,756	7,778
Significant Other Observable Inputs (Level 2) [Member] | United States Government Full Faith and Credit [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	33,507	38,120
Significant Other Observable Inputs (Level 2) [Member] | United States Government Sponsored Agencies [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	1,331,076	1,194,289
Significant Other Observable Inputs (Level 2) [Member] | United States Municipalities, States and Territories [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	3,608,592	3,306,743
Significant Other Observable Inputs (Level 2) [Member] | Foreign Government Obligations [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	192,519	91,557
Significant Other Observable Inputs (Level 2) [Member] | Corporate Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	20,516,385	17,233,017
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	1,801,660	1,970,584
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	2,618,928	1,735,460
Significant Other Observable Inputs (Level 2) [Member] | Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	915,852	1,034,117
Significant Unobservable Inputs (Level 3) [Member]	'	'
Assets	'	'
Derivative assets	0	0
Cash and cash equivalents	0	0
Counterparty collateral	0	0
Assets	526	1,376
Liabilities	'	'
Fixed index annuities - embedded derivatives	5,261,554	4,406,163
Liabilities	5,261,554	4,406,163
Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Caps [Member]	'	'
Assets	'	'
Interest rate derivative assets	0	0
Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Swap [Member]	'	'
Assets	'	'
Interest rate derivative assets	'	0
Liabilities	'	'
Interest rate derivative liabilities	0	'
Significant Unobservable Inputs (Level 3) [Member] | 2015 Notes Hedges [Member]	'	'
Assets	'	'
2015 notes hedges	0	0
Significant Unobservable Inputs (Level 3) [Member] | 2015 Notes Embedded Conversion Derivative [Member]	'	'
Liabilities	'	'
2015 notes embedded conversion derivative	0	0
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | United States Government Full Faith and Credit [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | United States Government Sponsored Agencies [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | United States Municipalities, States and Territories [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Foreign Government Obligations [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Corporate Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	526	1,376
Significant Unobservable Inputs (Level 3) [Member] | Commercial Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'
Assets	'	'
Available for sale securities	$0	$0

Fair_Values_of_Financial_Instr5

Fair Values of Financial Instruments (Reconciliation of Beginning and Ending Balances of Level 3 Assets) (Details) (Fair Value, Measurements, Recurring [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fair Value, Measurements, Recurring [Member]	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	$668	$1,541	$1,376	$1,812
Principal returned	-68	-148	-260	-709
Amortization of premium/accretion of discount	1	-18	-164	116
Total gains (losses) (realized/unrealized): included in other comprehensive income (loss)	127	-61	-19	95
Total gains (losses) (realized/unrealized): included in operations	-202	0	-407	0
Ending balance	$526	$1,314	$526	$1,314

Fair_Values_of_Financial_Instr6

Fair Values of Financial Instruments (Reconciliation of Beginning and Ending Balances of Level 3 Liabilities) (Details) (Fair Value, Measurements, Recurring [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fair Value, Measurements, Recurring [Member]	'	'	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	$5,119,823	$3,747,052	$4,406,163	$3,337,556
Premiums less benefits	496,295	372,363	1,294,024	1,044,756
Change in fair value, net	-354,564	-143,553	-438,633	-406,450
Ending balance	$5,261,554	$3,975,862	$5,261,554	$3,975,862

Investments_Narrative_Details

Investments (Narrative) (Details) (USD $)	1 Months Ended	9 Months Ended
	Apr. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
		Securities		Securities
Investments [Abstract]	'	'	'	'
Fixed income securities with call features, percentage	'	32.00%	'	'
Fixed income securities with call features, currently callable, percentage	'	0.80%	'	'
Fixed income securities with call features, currently callable, amount	'	$200,000,000	'	'
Fixed income securities with call features, callable during next 12 months, percentage	'	4.00%	'	'
Fixed income securities with call features, callable during next 12 months, amount	'	1,000,000,000	'	'
Proceeds from calls of United States Government securities	500,000,000	'	'	'
Percentage of fixed maturity portfolio rated investment grade based on NAIC designations	'	98.00%	'	98.00%
Number of individual securities with unrealized losses	'	628	'	1,047
Percentage of unrealized losses on fixed maturity securities where securities are rated investment grade	'	89.00%	'	95.00%
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, amortized cost	'	29,301,310,000	'	26,527,730,000
Scheduled principal repayments, calls and tenders for available for sale securities	'	1,233,408,000	2,955,734,000	'
Fixed Maturity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Scheduled principal repayments, calls and tenders for available for sale securities	'	1,100,000,000	1,900,000,000	'
Other Asset Backed Securities [Member] | Investments, External Credit Rating, Non Investment Grade [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, number of securities in unrealized loss positions	'	0	'	'
Alt-A Sector [Member] | Residential Mortgage Backed Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, number of securities in unrealized loss positions	'	35	'	'
Available for sale securities, amortized cost	'	254,300,000	'	'
Available for sale securities, fair value	'	281,600,000	'	'
Available For Sale Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Proceeds from sales of available for sale securities	'	141,800,000	1,200,000,000	'
Available For Sale Securities [Member] | Fixed Maturity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, fair value	'	31,023,646,000	'	26,610,447,000
Available For Sale Securities [Member] | Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, fair value	'	1,802,186,000	'	1,971,960,000
Available For Sale Securities [Member] | Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Available for sale securities, fair value	'	$916,224,000	'	$1,034,476,000

Investments_Schedule_of_Amorti

Investments (Schedule of Amortized Cost and Fair Value of Fixed Maturity and Equity Securities) (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Investment Holdings [Line Items]	'	'
Held for investment, amortized cost	$76,387	$76,255
Held for investment	71,499	60,840
Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	29,301,310	26,527,730
Available for sale, gross unrealized gains	1,929,565	928,699
Available for sale, gross unrealized losses	-207,229	-845,982
Available for sale securities, fair value	31,023,646	26,610,447
Equity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	7,507	7,503
Available for sale, gross unrealized gains	249	275
Available for sale, gross unrealized losses	0	0
Available for sale securities, fair value	7,756	7,778
United States Government Full Faith and Credit [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	37,910	44,852
Available for sale, gross unrealized gains	291	367
Available for sale, gross unrealized losses	-490	-2,294
Available for sale securities, fair value	37,711	42,925
United States Government Sponsored Agencies [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	1,338,476	1,313,776
Available for sale, gross unrealized gains	24,207	1,875
Available for sale, gross unrealized losses	-31,607	-121,362
Available for sale securities, fair value	1,331,076	1,194,289
United States Municipalities, States and Territories [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	3,266,015	3,181,032
Available for sale, gross unrealized gains	346,044	164,785
Available for sale, gross unrealized losses	-3,467	-39,074
Available for sale securities, fair value	3,608,592	3,306,743
Foreign Government Obligations [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	181,123	86,112
Available for sale, gross unrealized gains	13,109	8,907
Available for sale, gross unrealized losses	-1,713	-3,462
Available for sale securities, fair value	192,519	91,557
Corporate Securities [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	19,316,396	17,142,118
Available for sale, gross unrealized gains	1,334,353	606,948
Available for sale, gross unrealized losses	-134,339	-516,029
Available for sale securities, fair value	20,516,410	17,233,037
Corporate Securities [Member] | Fixed Maturity Securities [Member] | Held For Investment Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Held for investment, amortized cost	76,387	76,255
Held for investment, gross unrealized gains	0	0
Held for investment, gross unrealized losses	-4,888	-15,415
Held for investment	71,499	60,840
Residential Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	1,684,196	1,895,913
Available for sale, gross unrealized gains	129,298	119,230
Available for sale, gross unrealized losses	-11,308	-43,183
Available for sale securities, fair value	1,802,186	1,971,960
Commercial Mortgage Backed Securities [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	2,594,756	1,821,988
Available for sale, gross unrealized gains	43,292	3,287
Available for sale, gross unrealized losses	-19,120	-89,815
Available for sale securities, fair value	2,618,928	1,735,460
Other Asset Backed Securities [Member] | Fixed Maturity Securities [Member] | Available For Sale Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Available for sale, amortized cost	882,438	1,041,939
Available for sale, gross unrealized gains	38,971	23,300
Available for sale, gross unrealized losses	-5,185	-30,763
Available for sale securities, fair value	$916,224	$1,034,476

Investments_Fixed_Maturity_Sec

Investments (Fixed Maturity Securities by Contractual Maturity) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract]	'	'
Available for sale securities, due in one year or less, amortized cost	$48,059	'
Available for sale securities, due after one year through five years, amortized cost	1,246,185	'
Available for sale securities, due after five years through ten years, amortized cost	8,461,914	'
Available for sale securities, due after ten years through twenty years, amortized cost	6,962,630	'
Available for sale securities, due after twenty years, amortized cost	7,421,132	'
Available for sale securities, securities with a single maturity date, amortized cost	24,139,920	'
Available for sale securities, amortized cost	29,301,310	'
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]	'	'
Available for sale securities, due in one year or less, fair value	49,602	'
Available for sale securities, due after one year through five years, fair value	1,402,686	'
Available for sale securities, due after five years through ten years, fair value	8,657,273	'
Available for sale securities, due after ten years through twenty years, fair value	7,443,830	'
Available for sale securities, due after twenty years, fair value	8,132,917	'
Available for sale securities, securities with a single maturity date, fair value	25,686,308	'
Available for sale securities, fair value	31,023,646	26,610,447
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract]	'	'
Held for investment securities, due in one year or less, amortized cost	0	'
Held for investment securities, due after one year through five years, amortized cost	0	'
Held for investment securities, due after five years through ten years, amortized cost	0	'
Held for investment securities, due after ten years through twenty years, amortized cost	0	'
Held for investment securities, due after twenty years, amortized cost	76,387	'
Held for investment securities, securities with a single maturity date, amortized cost	76,387	'
Held for investment, amortized cost	76,387	76,255
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract]	'	'
Held for investment securities, due in one year or less, fair value	0	'
Held for investment securities, due after one year through five years, fair value	0	'
Held for investment securities, due after five years through ten years, fair value	0	'
Held for investment securities, due after ten years through twenty years, fair value	0	'
Held for investment securities, due after twenty years, fair value	71,499	'
Held for investment securities, securities with a single maturity date, fair value	71,499	'
Held for investment	71,499	60,840
Residential Mortgage Backed Securities [Member]	'	'
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract]	'	'
Available for sale securities, securities without a single maturity date, amortized cost	1,684,196	'
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]	'	'
Available for sale securities, securities without a single maturity date, fair value	1,802,186	'
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract]	'	'
Held for investment securities, securities without a single maturity date, amortized cost	0	'
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract]	'	'
Held for investment securities, securities without a single maturity date, fair value	0	'
Commercial Mortgage Backed Securities [Member]	'	'
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract]	'	'
Available for sale securities, securities without a single maturity date, amortized cost	2,594,756	'
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]	'	'
Available for sale securities, securities without a single maturity date, fair value	2,618,928	'
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract]	'	'
Held for investment securities, securities without a single maturity date, amortized cost	0	'
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract]	'	'
Held for investment securities, securities without a single maturity date, fair value	0	'
Other Asset Backed Securities [Member]	'	'
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract]	'	'
Available for sale securities, securities without a single maturity date, amortized cost	882,438	'
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]	'	'
Available for sale securities, securities without a single maturity date, fair value	916,224	'
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract]	'	'
Held for investment securities, securities without a single maturity date, amortized cost	0	'
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract]	'	'
Held for investment securities, securities without a single maturity date, fair value	$0	'

Investments_Net_Unrealized_Gai

Investments (Net Unrealized Gains on Available for Sale Fixed Maturity Securities and Equity Securities Reported as a Separate Component of Stockholders' Equity) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments [Abstract]	'	'
Net unrealized gains on available for sale fixed maturity securities and equity securities	$1,722,585	$82,992
Adjustments for assumed changes in amortization of deferred policy acquisition costs and deferred sales inducements	-917,358	-46,588
Deferred income tax valuation allowance reversal	22,534	22,534
Deferred income tax expense	-281,830	-12,742
Net unrealized gains reported as accumulated other comprehensive income	$545,931	$46,196

Investments_Schedule_of_Credit

Investments (Schedule of Credit Quality of Fixed Maturity Portfolio by NAIC Designation) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment Holdings [Line Items]	'	'
Amortized cost	$29,377,697	$26,603,985
Fair value	31,095,145	26,671,287
NAIC, Class 1 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	18,639,433	16,394,654
Fair value	19,873,945	16,531,250
NAIC, Class 2 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	10,160,844	9,630,251
Fair value	10,657,187	9,598,399
NAIC, Class 3 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	508,843	502,822
Fair value	496,899	474,165
NAIC, Class 4 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	67,643	74,493
Fair value	66,563	66,078
NAIC, Class 5 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	0	0
Fair value	0	0
NAIC, Class 6 Designation [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	934	1,765
Fair value	$551	$1,395

Investments_Gross_Unrealized_L

Investments (Gross Unrealized Losses and Fair Value by Investment Category) (Details) (Fixed Maturity Securities [Member], USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	$4,044,075	$11,635,998
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-55,161	-741,947
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	3,552,277	1,097,643
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-152,068	-104,035
Available for sale securities, continuous unrealized loss position, total, fair value	7,596,352	12,733,641
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-207,229	-845,982
United States Government Full Faith and Credit [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	506	32,969
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	0	-2,294
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	32,815	0
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-490	0
Available for sale securities, continuous unrealized loss position, total, fair value	33,321	32,969
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-490	-2,294
United States Government Sponsored Agencies [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	51,590	692,320
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-380	-88,671
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	605,930	467,309
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-31,227	-32,691
Available for sale securities, continuous unrealized loss position, total, fair value	657,520	1,159,629
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-31,607	-121,362
United States Municipalities, States and Territories [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	75,487	614,056
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-644	-39,074
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	71,363	0
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-2,823	0
Available for sale securities, continuous unrealized loss position, total, fair value	146,850	614,056
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-3,467	-39,074
Foreign Government Obligations [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	15,057	26,298
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-214	-3,462
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	12,937	0
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-1,499	0
Available for sale securities, continuous unrealized loss position, total, fair value	27,994	26,298
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-1,713	-3,462
Corporate Securities [Member] | Finance, Insurance and Real Estate [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	530,312	1,690,846
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-6,352	-92,426
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	451,461	153,037
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-20,971	-12,873
Available for sale securities, continuous unrealized loss position, total, fair value	981,773	1,843,883
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-27,323	-105,299
Corporate Securities [Member] | Manufacturing, Construction and Mining [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	1,451,461	3,370,775
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-22,991	-191,245
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	839,113	93,608
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-35,082	-16,088
Available for sale securities, continuous unrealized loss position, total, fair value	2,290,574	3,464,383
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-58,073	-207,333
Corporate Securities [Member] | Utilities and Related Sectors [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	387,420	1,829,868
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-5,086	-102,758
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	461,882	83,550
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-21,632	-11,547
Available for sale securities, continuous unrealized loss position, total, fair value	849,302	1,913,418
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-26,718	-114,305
Corporate Securities [Member] | Wholesale/Retail Trade [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	192,142	428,407
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-3,723	-25,189
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	99,888	17,687
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-5,437	-1,992
Available for sale securities, continuous unrealized loss position, total, fair value	292,030	446,094
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-9,160	-27,181
Corporate Securities [Member] | Services, Media and Other [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	284,105	834,699
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-3,662	-51,508
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	260,985	107,242
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-9,403	-10,403
Available for sale securities, continuous unrealized loss position, total, fair value	545,090	941,941
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-13,065	-61,911
Corporate Securities [Member] | Insurance [Member]	'	'
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Held for investment securities, continuous unrealized loss position, less than 12 months, fair value	0	0
Held for investment securities, continuous unrealized loss position, less than 12 months, unrealized losses	0	0
Held for investment securities, continuous unrealized loss position, 12 months or longer, fair value	71,499	60,840
Held for investment securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-4,888	-15,415
Held for investment securities, continuous unrealized loss position, total, fair value	71,499	60,840
Held for investment securities, continuous unrealized loss position, total, unrealized losses	-4,888	-15,415
Residential Mortgage Backed Securities [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	148,490	309,599
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-2,407	-41,080
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	204,929	31,739
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-8,901	-2,103
Available for sale securities, continuous unrealized loss position, total, fair value	353,419	341,338
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-11,308	-43,183
Commercial Mortgage Backed Securities [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	858,538	1,450,143
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-7,695	-83,814
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	429,678	51,099
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-11,425	-6,001
Available for sale securities, continuous unrealized loss position, total, fair value	1,288,216	1,501,242
Available for sale securities, continuous unrealized loss position, total, unrealized losses	-19,120	-89,815
Other Asset Backed Securities [Member]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'
Available for sale securities, continuous unrealized loss position, less than 12 months, fair value	48,967	356,018
Available for sale securities, continuous unrealized loss position, less than 12 months, unrealized losses	-2,007	-20,426
Available for sale securities, continuous unrealized loss position, 12 months or longer, fair value	81,296	92,372
Available for sale securities, continuous unrealized loss position, 12 months or longer, unrealized losses	-3,178	-10,337
Available for sale securities, continuous unrealized loss position, total, fair value	130,263	448,390
Available for sale securities, continuous unrealized loss position, total, unrealized losses	($5,185)	($30,763)

Investments_Changes_in_Net_Unr

Investments (Changes in Net Unrealized Gains on Investments) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Investment Holdings [Line Items]	'	'	'	'
Fixed maturity securities held for investment carried at amortized cost	$4,883	($449)	$10,527	($802)
Investments carried at fair value, available for sale	-54,298	-276,877	1,639,593	-1,743,380
Adjustment for effect on other balance sheet accounts:	'	'	'	'
Deferred policy acquisition costs and deferred sales inducements	38,699	152,944	-870,770	938,637
Deferred income tax asset/liability	5,459	43,378	-269,088	281,661
Total adjustment for effect on other balance sheet accounts	44,158	196,322	-1,139,858	1,220,298
Change in net unrealized gains on investments carried at fair value	-10,140	-80,555	499,735	-523,082
Fixed Maturity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Investments carried at fair value, available for sale	-54,291	-276,793	1,639,619	-1,735,347
Equity Securities [Member]	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'
Investments carried at fair value, available for sale	($7)	($84)	($26)	($8,033)

Investments_Net_Realized_Gains

Investments (Net Realized Gains (Losses) on Invesments, Excluding Other Than Temporary Impairments) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Gain (Loss) on Investments [Line Items]	'	'	'	'
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses	($3,190)	($2,077)	($6,134)	$24,197
Fixed Maturity Securities [Member]	'	'	'	'
Gain (Loss) on Investments [Line Items]	'	'	'	'
Gross realized gains	179	3,965	1,536	24,608
Gross realized losses	-148	-2,096	-910	-5,106
Gross realized gains (losses), excluding other than temporary impairments	31	1,869	626	19,502
Equity Securities [Member]	'	'	'	'
Gain (Loss) on Investments [Line Items]	'	'	'	'
Gross realized gains	0	0	0	9,571
Other Investments [Member]	'	'	'	'
Gain (Loss) on Investments [Line Items]	'	'	'	'
Gain on sale of real estate	455	201	1,493	1,505
Loss on sale of real estate	0	-278	-231	-744
Impairment losses on real estate	-1,436	-678	-2,235	-823
Gain (loss) on other investments	-981	-755	-973	-62
Mortgage Loans on Real Estate [Member]	'	'	'	'
Gain (Loss) on Investments [Line Items]	'	'	'	'
Increase in allowance for credit losses	($2,240)	($3,191)	($5,787)	($4,814)

Investments_Significant_Assump

Investments (Significant Assumptions in Determining Credit Loss Component of Other Than Temporary Impairment on Residential Mortgage Backed Securities) (Details) (Residential Mortgage Backed Securities [Member])	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Prime Sector [Member] | Vintage Year 2003 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	5.10%
Default rate	'	2.00%
Loss severity	'	30.00%
Prime Sector [Member] | Vintage Year 2003 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	5.10%
Default rate	'	2.00%
Loss severity	'	30.00%
Prime Sector [Member] | Vintage Year 2005 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	7.50%	6.50%
Default rate	15.00%	8.00%
Loss severity	50.00%	50.00%
Prime Sector [Member] | Vintage Year 2005 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	7.50%	7.70%
Default rate	15.00%	18.00%
Loss severity	50.00%	65.00%
Prime Sector [Member] | Vintage Year 2006 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	6.50%	6.00%
Default rate	11.00%	9.00%
Loss severity	50.00%	50.00%
Prime Sector [Member] | Vintage Year 2006 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	7.40%	6.90%
Default rate	12.00%	16.00%
Loss severity	50.00%	50.00%
Prime Sector [Member] | Vintage Year 2007 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	7.00%	6.20%
Default rate	14.00%	11.00%
Loss severity	55.00%	40.00%
Prime Sector [Member] | Vintage Year 2007 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	7.00%	6.70%
Default rate	14.00%	25.00%
Loss severity	55.00%	60.00%
Prime Sector [Member] | Vintage Year 2008 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.60%
Default rate	'	16.00%
Loss severity	'	45.00%
Prime Sector [Member] | Vintage Year 2008 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.60%
Default rate	'	16.00%
Loss severity	'	45.00%
Prime Sector [Member] | Vintage Year 2009 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.80%
Default rate	'	17.00%
Loss severity	'	60.00%
Prime Sector [Member] | Vintage Year 2009 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.80%
Default rate	'	17.00%
Loss severity	'	60.00%
Alt-A Sector [Member] | Vintage Year 2005 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	5.60%	5.60%
Default rate	87.00%	15.00%
Loss severity	2.00%	2.00%
Alt-A Sector [Member] | Vintage Year 2005 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	6.40%	8.70%
Default rate	89.00%	81.00%
Loss severity	2.00%	65.00%
Alt-A Sector [Member] | Vintage Year 2007 [Member] | Minimum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.20%
Default rate	'	38.00%
Loss severity	'	60.00%
Alt-A Sector [Member] | Vintage Year 2007 [Member] | Maximum [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Discount rate	'	6.90%
Default rate	'	52.00%
Loss severity	'	65.00%

Investments_Other_Than_Tempora

Investments (Other Than Temporary Impairments by Asset Type) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
				Securities
Other than Temporary Impairment Losses, Investments [Abstract]	'	'	'	'
Other than temporary impairment, number of securities	'	'	'	10
Total OTTI losses	$0	$0	$0	($4,964)
Portion of OTTI losses recognized from other comprehensive income	-564	-222	-2,063	-1,270
Net OTTI losses recognized in operations	-564	-222	-2,063	-6,234
Residential Mortgage Backed Securities [Member]	'	'	'	'
Other than Temporary Impairment Losses, Investments [Abstract]	'	'	'	'
Other than temporary impairment, number of securities	3	2	6	6
Total OTTI losses	0	0	0	0
Portion of OTTI losses recognized from other comprehensive income	-564	-222	-2,063	-1,270
Net OTTI losses recognized in operations	-564	-222	-2,063	-1,270
United States Government Sponsored Agencies [Member]	'	'	'	'
Other than Temporary Impairment Losses, Investments [Abstract]	'	'	'	'
Other than temporary impairment, number of securities	'	'	'	2
Total OTTI losses	'	'	'	-2,775
Portion of OTTI losses recognized from other comprehensive income	'	'	'	0
Net OTTI losses recognized in operations	'	'	'	-2,775
Corporate Securities [Member] | Industrial [Member]	'	'	'	'
Other than Temporary Impairment Losses, Investments [Abstract]	'	'	'	'
Other than temporary impairment, number of securities	'	'	'	1
Total OTTI losses	'	'	'	-1,761
Portion of OTTI losses recognized from other comprehensive income	'	'	'	0
Net OTTI losses recognized in operations	'	'	'	-1,761
Equity Securities [Member] | Industrial [Member]	'	'	'	'
Other than Temporary Impairment Losses, Investments [Abstract]	'	'	'	'
Other than temporary impairment, number of securities	'	'	'	1
Total OTTI losses	'	'	'	-428
Portion of OTTI losses recognized from other comprehensive income	'	'	'	0
Net OTTI losses recognized in operations	'	'	'	($428)

Investments_Cumulative_Credit_

Investments (Cumulative Credit Loss Portion of Other Than Temporary Impairment Recognized in Operations) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Investments [Abstract]	'	'	'	'
Cumulative credit loss at beginning of period	($127,459)	($128,513)	($125,960)	($134,027)
Credit losses on securities for which OTTI has not previously been recognized	0	0	0	-4,536
Additional credit losses on securities for which OTTI has previously been recognized	-564	-222	-2,063	-1,270
Accumulated losses on securities that were disposed of during the period	0	2,775	0	13,873
Cumulative credit loss at end of period	($128,023)	($125,960)	($128,023)	($125,960)

Investments_Cumulative_Noncred

Investments (Cumulative Noncredit Portion of Other Than Temporary Impairment Recognized in Other Comprehensive Income and Change in Fair Value Since Other Than Temporary Impairment) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment Holdings [Line Items]	'	'
Amortized cost	$597,409	$679,265
OTTI recognized in other comprehensive income	-174,271	-176,334
Change in fair value since OTTI was recognized	217,222	216,081
Fair value	640,360	719,012
Fixed Maturity Securities [Member] | Corporate Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	0	0
OTTI recognized in other comprehensive income	0	0
Change in fair value since OTTI was recognized	25	20
Fair value	25	20
Fixed Maturity Securities [Member] | Residential Mortgage Backed Securities [Member]	'	'
Investment Holdings [Line Items]	'	'
Amortized cost	597,409	679,265
OTTI recognized in other comprehensive income	-174,271	-176,334
Change in fair value since OTTI was recognized	217,197	216,061
Fair value	$640,335	$718,992

Mortgage_Loans_on_Real_Estate_1

Mortgage Loans on Real Estate (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	loans	loans	loans	loans
	portfolio_segment		portfolio_segment
Mortgage Loans on Real Estate [Abstract]	'	'	'	'	'
Mortgage loans on real estate	$2,474,306,000	'	$2,474,306,000	'	$2,581,082,000
Commitments outstanding	55,900,000	'	55,900,000	'	'
Number of portfolio segments that make up financing receivables	1	'	1	'	'
Number of mortgage loans satisfied by foreclosure	1	3	6	4	'
Impaired mortgage loans, workout terms, interest only payments, six month terms	'	'	'6 months	'	'
Impaired mortgage loans, workout terms, interest only payments, twelve month terms	'	'	'12 months	'	'
Impaired mortgage loans, workout terms, cash flow sweep, number of months	'	'	'12 months	'	'
Number of days past due, delinquent status	'	'	'60 days	'	'
Number of days past due, non-accrual status	'	'	'90 days	'	'
Outstanding principal of loans in a non-accrual status	$12,600,000	'	$12,600,000	'	$8,200,000

Mortgage_Loans_on_Real_Estate_2

Mortgage Loans on Real Estate (Summary of Mortgage Loan Portfolio) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage Loans on Real Estate [Abstract]	'	'
Principal outstanding	$2,502,703	$2,607,698
Loan loss allowance	-27,864	-26,047
Deferred prepayment fees	-533	-569
Mortgage loans on real estate	$2,474,306	$2,581,082

Mortgage_Loans_on_Real_Estate_3

Mortgage Loans on Real Estate (Mortgage Loan Portfolio Summarized by Geographic Region and Property Type) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	$2,502,703	$2,607,698
Percent	100.00%	100.00%
Office [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	517,387	590,414
Percent	20.70%	22.60%
Medical Office [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	93,834	125,703
Percent	3.70%	4.80%
Retail [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	719,554	711,364
Percent	28.70%	27.30%
Industrial/Warehouse [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	675,131	673,449
Percent	27.00%	25.80%
Hotel [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	34,615	61,574
Percent	1.40%	2.40%
Apartment [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	332,694	291,823
Percent	13.30%	11.20%
Mixed Use/Other [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	129,488	153,371
Percent	5.20%	5.90%
East [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	751,859	765,717
Percent	30.00%	29.40%
Middle Atlantic [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	143,949	156,489
Percent	5.80%	6.00%
Mountain [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	307,393	356,246
Percent	12.30%	13.70%
New England [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	14,415	21,324
Percent	0.60%	0.80%
Pacific [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	290,794	317,431
Percent	11.60%	12.20%
South Atlantic [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	490,945	483,852
Percent	19.60%	18.50%
West North Central [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	335,124	351,794
Percent	13.40%	13.50%
West South Central [Member]	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Principal outstanding	$168,224	$154,845
Percent	6.70%	5.90%

Mortgage_Loans_on_Real_Estate_4

Mortgage Loans on Real Estate (Allowance for Loan Losses Rollforward) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified			Specific Allowance [Member]	Specific Allowance [Member]	Specific Allowance [Member]	Specific Allowance [Member]	General Allowance [Member]	General Allowance [Member]	General Allowance [Member]	General Allowance [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Beginning allowance balance	($27,864)	($26,047)	($17,282)	($21,176)	($16,847)	($23,134)	($9,300)	($10,500)	($9,200)	($11,100)
Charge-offs	'	'	958	3,749	3,715	7,930	0	0	0	0
Recoveries	'	'	'	'	255	0	'	'	0	0
Change in provision for credit losses	'	'	-1,040	-2,691	-4,487	-4,914	-1,200	-500	-1,300	100
Ending allowance balance	($27,864)	($26,047)	($17,364)	($20,118)	($17,364)	($20,118)	($10,500)	($11,000)	($10,500)	($11,000)

Mortgage_Loans_on_Real_Estate_5

Mortgage Loans on Real Estate (Impaired Mortgage Loans on Real Estate by Basis of Impairment) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage Loans on Real Estate [Abstract]	'	'
Individually evaluated for impairment	$37,954	$47,018
Collectively evaluated for impairment	2,464,749	2,560,680
Principal outstanding	$2,502,703	$2,607,698

Mortgage_Loans_on_Real_Estate_6

Mortgage Loans on Real Estate (Real Estate Owned) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Mortgage Loans on Real Estate [Abstract]	'	'	'	'
Real estate owned at beginning of period	$24,606	$26,609	$22,844	$33,172
Real estate acquired in satisfaction of mortgage loans	1,748	5,441	11,755	6,285
Additions	0	52	0	532
Sales	-2,431	-5,832	-9,579	-13,245
Impairments	-1,436	-678	-2,235	-823
Depreciation	-153	-159	-451	-488
Real estate owned at end of period	$22,334	$25,433	$22,334	$25,433

Mortgage_Loans_on_Real_Estate_7

Mortgage Loans on Real Estate (Mortgage Loans by Credit Quality Indicator) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage Loans on Real Estate [Abstract]	'	'
Performing	$2,490,059	$2,593,276
In workout	0	6,248
Delinquent	6,032	0
Collateral dependent	6,612	8,174
Principal outstanding	$2,502,703	$2,607,698

Mortgage_Loans_on_Real_Estate_8

Mortgage Loans on Real Estate (Schedule of Financing Receivables Past Due) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage Loans on Real Estate [Abstract]	'	'
30 - 59 days	$2,484	$0
60 to 89 days	6,032	0
90 days and over	0	0
Total past due	8,516	0
Current	2,487,575	2,599,524
Collateral dependent receivables	6,612	8,174
Principal outstanding	$2,502,703	$2,607,698

Mortgage_Loans_on_Real_Estate_9

Mortgage Loans on Real Estate (Schedule of Impaired Financing Receivables) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Financing Receivable, Impaired [Line Items]	'	'	'	'	'
Mortgage loans with an allowance, recorded investment	$20,590	'	$20,590	'	$30,171
Mortgage loans with no related allowance, recorded investment	2,657	'	2,657	'	3,264
Impaired mortgage loans, recorded investment	23,247	'	23,247	'	33,435
Mortgage loans with an allowance, unpaid principal balance	37,954	'	37,954	'	47,018
Mortgage loans with no related allowance, unpaid principal balance	2,657	'	2,657	'	3,264
Impaired mortgage loans, unpaid principal balance	40,611	'	40,611	'	50,282
Mortgage loans with an allowance, related allowance	-17,364	'	-17,364	'	-16,847
Mortgage loans with an allowance, average recorded investment	22,157	31,488	23,580	32,315	'
Mortgage loans with no related allowance, average recorded investment	2,656	18,781	2,656	18,822	'
Impaired mortgage loans, average recorded investment	24,813	50,269	26,236	51,137	'
Mortgage loans with an allowance, interest income recognized	539	1,135	1,696	2,069	'
Mortgage loans with no related allowance, interest income recognized	0	366	0	797	'
Impaired mortgage loans, interest income reoognized	$539	$1,501	$1,696	$2,866	'

Recovered_Sheet1

Mortgage Loans on Real Estate (Troubled Debt Restructurings) (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
	loans	loans
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	8	18
Principal balance outstanding	$15,837	$45,653
Specific loan loss allowance	-4,643	-6,653
Net carrying amount	11,194	39,000
East [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	'	1
Principal balance outstanding	'	3,712
Specific loan loss allowance	'	-949
Net carrying amount	'	2,763
Mountain [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	'	7
Principal balance outstanding	'	22,140
Specific loan loss allowance	'	-329
Net carrying amount	'	21,811
South Atlantic [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	6	7
Principal balance outstanding	11,747	13,930
Specific loan loss allowance	-3,319	-4,177
Net carrying amount	8,428	9,753
East North Central [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	1	1
Principal balance outstanding	2,196	2,219
Specific loan loss allowance	-467	-467
Net carrying amount	1,729	1,752
West North Central [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	1	1
Principal balance outstanding	1,894	1,938
Specific loan loss allowance	-857	-475
Net carrying amount	1,037	1,463
West South Central [Member]	'	'
Financing Receivable, Modifications [Line Items]	'	'
Number of TDRs	'	1
Principal balance outstanding	'	1,714
Specific loan loss allowance	'	-256
Net carrying amount	'	$1,458

Derivative_Instruments_Narrati

Derivative Instruments (Narrative) (Details) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

Share data in Millions, except Per Share data, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Aug. 26, 2013

Sep. 30, 2014

Sep. 30, 2010

Sep. 30, 2010

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2010

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Nov. 10, 2014

partial_unwind_agreement

partial_unwind_agreement

counterparties

2015 Notes Hedges [Member]

2015 Notes Hedges [Member]

2015 Warrants [Member]

2015 Warrants [Member]

September 2015 Notes [Member]

September 2015 Notes [Member]

SunTrust [Member]

SunTrust [Member]

Call Options [Member]

Change in Assumptions for Fair Value [Member]

Subsequent Event [Member]

counterparties

counterparties

counterparties

counterparties

Not Designated as Hedging Instrument [Member]

Three Month London Interbank Offered Rate (LIBOR) [Member]

Not Designated as Hedging Instrument [Member]

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment maturity period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

Derivative collateral

$715,300,000

'

$715,300,000

'

$818,200,000

'

'

'

'

'

'

'

$2,300,000

'

'

'

'

Credit risk, maximum exposure

'

'

64,100,000

'

71,700,000

'

'

'

'

'

'

'

'

'

'

'

'

Change in fair value of embedded derivatives

195,206,000

-36,224,000

21,652,000

8,913,000

'

'

'

'

'

'

'

'

'

'

'

-62,600,000

'

Net income

67,815,000

56,181,000

94,806,000

202,325,000

'

'

'

'

'

'

'

'

'

'

'

14,800,000

'

Earnings per common share - assuming dilution

$0.85

$0.75

$1.19

$2.79

'

'

'

'

'

'

'

'

'

'

'

$0.19

'

Derivative, cap interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

'

'

Interest rate swaps and caps, duration

'

'

'

'

'

'

'

'

'

'

'

'

'7 years

'

'

'

'

Principal amount of convertible senior notes payable at issuance

'

'

'

'

'

'

'

'

'

'

'

200,000,000

'

'

'

'

'

Debt instrument, interest rate, stated percentage

'

'

'

'

'

'

'

'

'

'

3.50%

'

'

'

'

'

'

Number of counterparties

'

'

'

'

'

'

'

2

2

'

'

'

'

'

'

'

'

Derivative, conversion spread, shares of common stock

'

'

'

'

'

'

1.8

16

'

'

'

'

'

'

'

'

'

Derivative asset, strike price

'

'

'

'

'

'

$12.35

$12.50

'

'

'

'

'

'

'

'

'

Warrants, number of securities called by warrants

'

'

'

'

'

'

'

'

16

1.8

'

'

'

'

'

'

'

Warrants, strike price

'

'

'

'

'

'

'

'

$16

$15.75

'

'

'

'

'

'

'

Proceeds from issuance of warrants

'

'

'

'

'

'

'

'

15,600,000

'

'

'

'

'

'

'

'

Warrants, deliverable

'

'

'

'

'

'

'

'

11.7

'

'

'

'

'

'

'

'

Number of partial unwind agreements

4

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of counterparties, partial unwind agreements

2

'

2

'

'

2

'

'

'

'

'

'

'

'

'

'

'

Net cash received from counterparties for settlement of call options and warrants

'

'

10,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

6,200,000

Percentage of outstanding call options and warrants settled pursuant to agreement

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

Warrants reclassified from equity to liability, at fair value

'

'

$0

$41,878,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding warrants reclassified from equity to derivative liabilities upon entering into unwind agreement

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

Derivative_Instruments_Fair_Va

Derivative Instruments (Fair Value of Derivative Instruments as Presented in the Consolidated Balance Sheets) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	$744,033	$856,050
Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	786,738	969,906
Derivative liabilities	5,301,867	4,513,204
Call Options [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	744,033	856,050
2015 Notes Hedges [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	39,061	107,041
Interest Rate Caps [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	3,644	6,103
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets	0	712
Derivative liabilities	1,252	0
Fixed Index Annuities - Embedded Derivatives [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liabilities	5,261,554	4,406,163
2015 Notes Embedded Conversion Derivative [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liabilities	$39,061	$107,041

Derivative_Instruments_Change_

Derivative Instruments (Change in Fair Value of Derivatives Included in the Consolidated Statement of Operations) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	$39,218	$193,028	$358,594	$631,030
Change in fair value of embedded derivatives	-195,206	36,224	-21,652	-8,913
Call Options [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	45,931	129,428	391,173	532,282
2015 Notes Hedges [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	-6,823	73,504	-27,124	101,799
2015 Warrants [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	0	-9,199	0	-9,199
Interest Rate Swap [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	254	-496	-2,996	4,039
Interest Rate Caps [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of derivatives	-144	-209	-2,459	2,109
2015 Notes Embedded Conversion Derivative [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of embedded derivatives	-6,823	75,750	-31,356	104,045
Fixed Index Annuities - Embedded Derivatives [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Change in fair value of embedded derivatives	($188,383)	($39,526)	$9,704	($112,958)

Derivative_Instruments_Derivat

Derivative Instruments (Derivative Call Options, Notional Amount and Fair Value, by Counterparty) (Details) (Call Options [Member], Not Designated as Hedging Instrument [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative [Line Items]	'	'
Notional amount	$22,744,564	$19,277,639
Derivative instruments	744,033	856,050
Bank of America [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	2,246,624	1,683,911
Derivative instruments	72,983	73,836
Barclays [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	3,623,829	2,396,839
Derivative instruments	103,851	113,513
BNP Paribas [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	1,396,822	1,382,661
Derivative instruments	47,466	38,849
Citibank, N.A. [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	3,140,186	1,536,547
Derivative instruments	104,580	72,310
Credit Suisse [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	2,331,074	4,060,352
Derivative instruments	76,262	193,304
Deutsche Bank [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	1,896,694	747,587
Derivative instruments	48,434	41,074
HSBC [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	119,798	200,011
Derivative instruments	6,223	10,518
J.P. Morgan [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	447,612	786,429
Derivative instruments	15,838	36,863
Morgan Stanley [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	2,876,299	3,546,487
Derivative instruments	121,615	150,437
Royal Bank of Canada [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	1,383,324	714,941
Derivative instruments	42,089	25,140
Wells Fargo [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	3,282,302	2,221,874
Derivative instruments	$104,692	$100,206

Derivative_Instruments_Interes

Derivative Instruments (Interest Rate Swap) (Details) (Interest Rate Swap [Member], Interest Rate Swap, Maturity Date, March 15, 2021, 2.415% [Member], SunTrust [Member], Not Designated as Hedging Instrument [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Interest Rate Swap [Member] | Interest Rate Swap, Maturity Date, March 15, 2021, 2.415% [Member] | SunTrust [Member] | Not Designated as Hedging Instrument [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	$85,500	'
Pay rate	2.42%	'
Derivative liabilities	-1,252	'
Derivative assets	'	$712

Derivative_Instruments_Interes1

Derivative Instruments (Interest Rate Caps) (Details) (Interest Rate Caps [Member], SunTrust [Member], Not Designated as Hedging Instrument [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative [Line Items]	'	'
Notional amount	$79,000	'
Derivative assets	3,644	6,103
Interest Rate Caps, Maturity Date, July 7, 2021, 2.50% [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	40,000	'
Cap rate	2.50%	'
Derivative assets	1,835	3,073
Interest Rate Caps, Maturity Date, July 8, 2021, 2.50% [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	12,000	'
Cap rate	2.50%	'
Derivative assets	551	923
Interest Rate Caps, Maturity Date, July 29, 2021, 2.50% [Member]	'	'
Derivative [Line Items]	'	'
Notional amount	27,000	'
Cap rate	2.50%	'
Derivative assets	$1,258	$2,107

Notes_Payable_Liability_and_Eq

Notes Payable (Liability and Equity Components of Convertible Senior Notes) (Details) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

September 2015 Notes [Member]

September 2015 Notes [Member]

December 2029 Notes [Member]

December 2029 Notes [Member]

Convertible Debt [Member]

Convertible Debt [Member]

Convertible Debt [Member]

Convertible Debt [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Principal amount of liability component

'

'

'

'

$45,450

$91,951

$32,142

$68,373

'

'

'

'

Unamortized discount

'

'

'

'

-1,898

-6,623

-399

-3,743

'

'

'

'

Net carrying amount of liability component

'

'

'

'

43,552

85,328

31,743

64,630

'

'

'

'

Carrying amount of equity component

'

'

'

'

'

'

4,325

15,586

'

'

'

'

Amount by which the if-converted value exceeds principal

'

'

'

'

38,728

104,403

46,282

113,169

'

'

'

'

Interest rate, effective percentage

'

'

'

'

8.90%

'

11.90%

'

'

'

'

'

Interest expense on convertible notes

$8,741

$12,957

$28,126

$26,985

'

'

'

'

$1,900

$7,100

$7,600

$21,100

Notes_Payable_2029_Notes_Narra

Notes Payable (2029 Notes Narrative) (Details) (December 2029 Notes [Member], USD $)	9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014
December 2029 Notes [Member]	'
Debt Instrument [Line Items]	'
Debt instrument, interest rate, stated percentage	5.25%
Debt instrument, convertible, conversion price per share	$9.57
Extinguishment of debt, amount	$36.20
Extinguishment of debt, cash paid	66.8
Extinguishment of debt, cash paid for shares of common stock	23.2
Extinguishment of debt, shares issued	946,793
Extinguishment of debt, carrying value at extinguishment	34.6
Extinguishment of debt, loss, net of tax	($2.50)

Notes_Payable_2015_Notes_Narra

Notes Payable (2015 Notes Narrative) (Details) (September 2015 Notes [Member], USD $)	9 Months Ended	1 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014	Oct. 31, 2014
		Subsequent Event [Member]
Debt Instrument [Line Items]	'	'
Extinguishment of debt, amount	$46.50	$23.10
Extinguishment of debt, cash paid	52.9	30
Extinguishment of debt, cash paid for shares of common stock	33.1	15.1
Extinguishment of debt, shares issued	1,496,664	618,391
Extinguishment of debt, carrying value at extinguishment	43.8	22.2
Extinguishment of debt, loss, net of tax	($5.40)	($1.10)

Notes_Payable_Line_of_Credit_N

Notes Payable (Line of Credit Narrative) (Details) (2013 Line of Credit [Member], USD $)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
	occasions
	guarantor
2013 Line of Credit [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Line of credit, maximum borrowing capacity	$140,000,000	'
Line of credit, length of credit agreement, years	'4 years	'
Minimum risk-based capital ratio	275.00%	'
Maximum debt to capital ratio	0.35	'
Minimum capital to be retained	80.00%	'
Minimum portion of net income to be retained	50.00%	'
Minimum capital contributions to be retained	50.00%	'
Line of credit, number of occasions borrowing capacity can be increased	3	'
Line of credit, additional borrowing capacity, aggregate amount	50,000,000	'
Line of credit, maturity date extension available, years	'1 year	'
Line of credit, number of guarantors	0	'
Line of credit, amount outstanding	$0	$0

Notes_Payable_Repurchase_Agree

Notes Payable (Repurchase Agreements Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Debt Disclosure [Abstract]	'	'	'	'
Repurchase agreement, maximum amount borrowed	'	'	$138,700,000	$258,600,000
Repurchase agreement, average borrowings	$882,000	$131,500,000	$9,400,000	$47,500,000
Repurchase agreement, weighted average interest rate	0.35%	0.17%	0.15%	0.18%

Commitments_and_Contingencies_

Commitments and Contingencies (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Estimated litigation liability	'	$11.10	$21.20	$17.50
Change in estimated litigation liability	-2.3	'	'	'
Legal fees paid	7.8	'	'	'
Unfunded commitments to limited partnerships	'	18.6	'	'
Unfunded commitments to secured bank loans	'	$9.10	'	'

Earnings_Per_Share_Schedule_of

Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Earnings Per Share, Basic and Diluted [Line Items]	'		'		'		'
Net income	$67,815		$56,181		$94,806		$202,325
Weighted average common shares outstanding (shares)	75,082,852	[1]	65,129,442	[1]	74,030,290	[1]	64,239,117	[1]
Effect of dilutive securities: 2015 warrants (shares)	1,230,020		1,388,826		1,730,077		462,942
Denominator for earnings per common share - assuming dilution (shares)	79,467,110		74,559,716		79,477,258		72,459,076
Earnings per common share	$0.90		$0.86		$1.28		$3.15
Earnings per common share - assuming dilution	$0.85		$0.75		$1.19		$2.79
Convertible Senior Notes [Member]	'		'		'		'
Earnings Per Share, Basic and Diluted [Line Items]	'		'		'		'
Effect of dilutive securities: convertible senior notes (shares)	1,982,089		6,601,347		2,485,974		6,601,347
Stock Options and Deferred Compensation Agreements [Member]	'		'		'		'
Earnings Per Share, Basic and Diluted [Line Items]	'		'		'		'
Effect of dilutive securities: share-based payment arrangements (shares)	1,115,927		1,440,101		1,185,973		1,155,670
Restricted Stock Units [Member]	'		'		'		'
Earnings Per Share, Basic and Diluted [Line Items]	'		'		'		'
Effect of dilutive securities: share-based payment arrangements (shares)	56,222		0		44,944		0
[1]	Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.

Earnings_Per_Share_Schedule_of1

Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) (Stock Options [Member], USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Number of shares	1,275,050	0	1,275,050	0
Minimum [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Range of exercise prices	24.79	0	24.79	0
Maximum [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Range of exercise prices	24.79	0	24.79	0