National Western Life Group Inc - Ordinary Shares (NWLI) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 02, 2017
Entity Information [Line Items]
Entity Registrant Name	NATIONAL WESTERN LIFE GROUP, INC.
Entity Central Index Key	1,635,984
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,436,166
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Investments:
Securities held to maturity, at amortized cost (fair value: $7,498,922 and $7,337,611)	$ 7,264,995	$ 7,159,259
Securities available for sale, at fair value (cost: $2,942,594 and $2,991,042)	3,045,603	3,060,363
Mortgage loans, net of allowance for possible losses ($650 and $650)	188,623	174,534
Policy loans	57,466	58,699
Derivatives, index options	163,536	120,644
Other long-term investments	48,933	53,954
Total investments	10,769,156	10,627,453
Cash and cash equivalents	170,560	51,247
Deferred policy acquisition costs	813,642	835,194
Deferred sales inducements	134,636	147,111
Accrued investment income	103,038	99,245
Federal income tax receivable	7,858	0
Other assets	139,401	134,731
Total assets	12,138,291	11,894,981
Future policy benefits:
Universal life and annuity contracts	9,856,403	9,722,313
Traditional life reserves	135,366	136,782
Other policyholder liabilities	137,072	143,391
Deferred Federal income tax liability	56,016	64,990
Federal income tax payable	0	789
Other liabilities	150,752	104,888
Total liabilities	10,335,609	10,173,153
COMMITMENTS AND CONTINGENCIES (Note 8)
Common stock:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income	20,572	10,552
Retained earnings	1,740,358	1,669,524
Total stockholders’ equity	1,802,682	1,721,828
Total liabilities and stockholders' equity	12,138,291	11,894,981
Class A
Common stock:
Common stock, value outstanding	34	34
Class B
Common stock:
Common stock, value outstanding	$ 2	$ 2

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Securities held to maturity-fair value	$ 7,498,922	$ 7,337,611
Securities available for sale-amortized cost	2,942,594	2,991,042
Mortgage loans-allowance for possible losses	$ 650	$ 650
Class A
STOCKHOLDERS’ EQUITY:
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	7,500,000	7,500,000
Common stock, shares issued	3,436,166	3,436,166
Common stock, shares outstanding	3,436,166	3,436,166
Class B
STOCKHOLDERS’ EQUITY:
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	200,000	200,000
Common stock, shares outstanding	200,000	200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Premiums and other revenues:
Universal life and annuity contract charges	$ 40,268	$ 40,333	$ 122,329	$ 123,791
Traditional life premiums	5,285	4,631	13,639	13,721
Net investment income	151,691	126,981	466,045	335,732
Other revenues	4,672	4,476	13,714	14,050
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)	26	27	69	80
Portion of OTTI (gains) losses recognized in other comprehensive income	(26)	(27)	(69)	(80)
Net OTTI losses recognized in earnings	0	0	0	0
Other net investment gains (losses)	2,074	5,426	10,906	10,589
Total net realized investment gains (losses)	2,074	5,426	10,906	10,589
Total revenues	203,990	181,847	626,633	497,883
Benefits and expenses:
Life and other policy benefits	21,015	17,430	58,626	48,571
Amortization of deferred policy acquisition costs	18,722	24,395	85,992	88,581
Universal life and annuity contract interest	107,799	67,776	299,862	179,592
Other operating expenses	22,596	23,595	74,031	66,306
Total benefits and expenses	170,132	133,196	518,511	383,050
Earnings before Federal income taxes	33,858	48,651	108,122	114,833
Federal income taxes	12,045	14,915	37,288	37,553
Net earnings	21,813	33,736	70,834	77,280
Class A
Benefits and expenses:
Net earnings	$ 21,196	$ 32,782	$ 68,831	$ 75,095
Basic earnings per share:
Earnings Per Share, Basic (in dollars per share)	$ 6.17	$ 9.54	$ 20.03	$ 21.85
Diluted earnings per share:
Earnings Per Share, Diluted (in dollars per share)	$ 6.17	$ 9.54	$ 20.03	$ 21.85
Class B
Benefits and expenses:
Net earnings	$ 617	$ 954	$ 2,003	$ 2,185
Basic earnings per share:
Earnings Per Share, Basic (in dollars per share)	$ 3.08	$ 4.77	$ 10.02	$ 10.93
Diluted earnings per share:
Earnings Per Share, Diluted (in dollars per share)	$ 3.08	$ 4.77	$ 10.02	$ 10.93

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 21,813	$ 33,736	$ 70,834	$ 77,280
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period	2,212	2,824	15,479	48,927
Net unrealized liquidity gains (losses)	9	9	22	27
Reclassification adjustment for net amounts included in net earnings	(988)	(1,398)	(2,746)	(1,971)
Net unrealized gains (losses) on securities	1,233	1,435	12,755	46,983
Foreign currency translation adjustments	166	22	(5)	(81)
Benefit plans:
Amortization of net prior service cost and net gain (loss)	(910)	(283)	(2,730)	(850)
Other comprehensive income (loss)	489	1,174	10,020	46,052
Comprehensive income (loss)	$ 22,302	$ 34,910	$ 80,854	$ 123,332

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock:	Additional paid-in capital:	Accumulated other comprehensive income:	Unrealized gains on non-impaired securities:	Unrealized losses on impaired held to maturity securities:	Unrealized losses on impaired available for sale securities:	Foreign currency translation adjustments:	Benefit plan liability adjustment:	Retained earnings:
Total stockholders’ equity at Dec. 31, 2015		$ 36	$ 41,716		$ 12,347	$ (240)	$ (1)	$ 2,825	$ (14,602)	$ 1,569,905
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period, net of tax	$ 48,927				46,956
Amortization						52
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(25)	0
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	(81)							(81)
Amortization of net prior service cost and net loss, net of tax	(850)								(850)
Net earnings	77,280									77,280
Stockholder dividends										0
Total stockholders’ equity at Sep. 30, 2016	1,735,318	36	41,716	$ 46,381	59,303	(213)	(1)	2,744	(15,452)	1,647,185
Total stockholders’ equity at Dec. 31, 2016	1,721,828				22,813	(203)		2,661	(14,718)	1,669,524
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period, net of tax	15,479				12,733
Amortization						45
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(23)	0
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	(5)							(5)
Amortization of net prior service cost and net loss, net of tax	(2,730)								(2,730)
Net earnings	70,834									70,834
Stockholder dividends										0
Total stockholders’ equity at Sep. 30, 2017	$ 1,802,682	$ 36	$ 41,716	$ 20,572	$ 35,546	$ (181)	$ (1)	$ 2,656	$ (17,448)	$ 1,740,358

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net earnings	$ 70,834	$ 77,280
Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest	299,862	179,592
Surrender charges and other policy revenues	(33,682)	(34,955)
Realized (gains) losses on investments	(10,905)	(10,589)
Accretion/amortization of discounts and premiums, investments	308	51
Depreciation and amortization	7,379	5,823
(Increase) decrease in value of derivatives	(138,552)	(8,307)
(Increase) decrease in deferred policy acquisition and sales inducement costs	19,895	10,799
(Increase) decrease in accrued investment income	(3,793)	(1,618)
(Increase) decrease in other assets	(7,762)	(3,683)
Increase (decrease) in liabilities for future policy benefits	6,616	3,408
Increase (decrease) in other policyholder liabilities	(6,319)	(5,175)
Increase (decrease) in Federal income taxes liability	(8,647)	21,661
Increase (decrease) in deferred Federal income tax	(14,370)	10,587
Increase (decrease) in other liabilities	12,530	1,352
Net cash provided by operating activities	193,394	246,226
Proceeds from sales of:
Securities held to maturity	0	0
Securities available for sale	22,184	16,087
Other investments	4,943	3,947
Proceeds from maturities and redemptions of:
Securities held to maturity	303,081	304,190
Securities available for sale	222,841	134,208
Derivatives, index options	151,298	13,273
Property and equipment	2,731	0
Purchases of:
Securities held to maturity	(377,821)	(231,804)
Securities available for sale	(192,670)	(229,932)
Derivatives, index options	(55,780)	(57,224)
Other investments	(329)	(27,525)
Property and equipment	(1,697)	0
Net change in short-term investments	0	(14,972)
Principal payments on mortgage loans	24,199	17,295
Cost of mortgage loans acquired	(38,166)	(55,796)
Decrease (increase) in policy loans	1,233	2,739
Net cash provided by/(used in) investing activities	66,047	(125,514)
Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts	546,966	626,083
Return of account balances on universal life and annuity contracts	(687,087)	(675,389)
Net cash provided by (used in) financing activities	(140,121)	(49,306)
Effect of foreign exchange	(7)	(125)
Net increase (decrease) in cash and cash equivalents	119,313	71,281
Cash and cash equivalents at beginning of period	51,247	106,007
Cash and cash equivalents at end of period	170,560	177,288
Cash paid (received) during the period for:
Interest	30	33
Income Taxes Paid, Net	60,304	5,032
Noncash operating activities:
Deferral of sales inducements	$ (9,696)	$ (7,146)

Consolidation and Basis of Pres

Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation and Basis of Presentation	CONSOLIDATION AND BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements 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 of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position of National Western Life Group, Inc. ("NWLGI") and its wholly owned subsidiaries (“Company”) as of September 30, 2017 , and the results of its operations and its cash flows for the three and nine months ended September 30, 2017 and September 30, 2016 . Such adjustments are of a normal recurring nature. The results of operations for the nine months ended September 30, 2017 are not necessarily indicative of the results to be expected for the full year. It is recommended that these Condensed Consolidated Financial Statements be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 which is accessible free of charge through the Company's internet site at www.nwlgi.com or the Securities and Exchange Commission internet site at www.sec.gov . The Condensed Consolidated Balance Sheet at December 31, 2016 has been derived from the audited consolidated financial statements as of that date. The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of NWLGI and its wholly owned subsidiaries: National Western Life Insurance Company ("NWLIC" or "National Western"), Regent Care San Marcos Holdings, LLC, NWL Investments, Inc., and NWL Services, Inc. National Western's wholly owned subsidiaries include The Westcap Corporation, NWL Financial, Inc., NWLSM, Inc., and Braker P III, LLC. Where comments or disclosures are made specifically in reference to the insurance operations of National Western, the "company" is used in order to distinguish such comments from the consolidated entity. All significant intercorporate transactions and accounts have been eliminated in consolidation. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates in the accompanying Condensed Consolidated Financial Statements include: (1) liabilities for future policy benefits, (2) valuation of derivative instruments, (3) recoverability and amortization of deferred policy acquisition costs, (4) valuation allowances for deferred tax assets, (5) other-than-temporary impairment losses on debt securities, (6) commitments and contingencies, and (7) valuation allowances for mortgage loans and real estate. The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and nine months ended September 30, 2017 and September 30, 2016 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Other net investment gains (losses) $ 1,519 2,151 4,224 3,033 Net OTTI losses recognized in earnings — — — — Earnings before Federal income taxes 1,519 2,151 4,224 3,033 Federal income taxes 532 753 1,478 1,062 Net earnings $ 987 1,398 2,746 1,971

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS In January 2016, the FASB released accounting standards update (ASU) 2016-01, Recognition and Measurement of Financial Assets and Liabilities . The main provisions of the update are to eliminate the available for sale classification of accounting for equity securities and to adjust the fair value disclosures for financial instruments carried at amortized costs such that the disclosed fair values represent an exit price as opposed to an entry price. The provisions of this update will require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value will be adjustments to the income statement. The provisions of this update become effective for interim and annual periods beginning after December 15, 2017. The Company does not expect the requirements of this update to have a material impact on the Company’s financial position, results of operations or cash flows. In June 2016, the FASB released ASU 2016-13, Financial Instruments - Credit Losses , which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model. The objective of the expected credit loss model is for the reporting entity to recognize its estimate of expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. The guidance is effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained income. The Company is currently evaluating this guidance. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities , which amends the amortization period for certain purchased callable debt securities held at a premium. The amortization period for premiums is being shortened to the earliest call date. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company is currently evaluating this guidance. In May 2017, the FASB released ASU 2017-09, Compensation - Stock Compensation . The update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Accounting Standards Codification (ASC) Topic 718. An entity shall account for the effects of a modification described in ASC paragraphs 718-20-35-3 through 35-9, unless all the following are met: (1) The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (2) The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3) The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The provisions of this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In July 2017, the FASB released ASU 2017-11, Earnings Per Share; Distinguishing Liabilities from Equity; and, Derivatives and Hedging . This update includes: (I) Accounting for Certain Financial Instruments with Down Round Features, and (II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interest with a Scope Exception. Part I of this update changes the classification analysis of certain equity-linked financial instruments with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. Part II of this update recharacterizes the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In September 2017, the FASB released ASU 2017-13, Revenue Recognition (Topic 605), Revenue from contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) . This update adds SEC paragraphs pursuant to the SEC Staff Announcement made at the July 20, 2017 Emerging Issues Task Force (EITF) meeting to provide effective dates that differ for (1) public business entities and certain other specified entities and (2) all other entities. The Company does not expect an effect on the results of operations or financial position with the adoption of this ASU. The Company will adopt Topic 606 and 842 within the required effective dates set by the SEC. Amendment to Topic 605 does not affect the Company since management fees amongst affiliates are eliminated upon consolidation. Amendment to Topic 840 does not affect the Company since the Company does not have any Third-Party Value Guarantees embedded within its lease agreements that will have a material effect on the results of operations or financial position. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY NWLIC is restricted by state insurance laws as to dividend amounts which may be paid to stockholders without prior approval from the Colorado Division of Insurance. The restrictions are based on the lesser of statutory earnings from operations, excluding capital gains, from the prior calendar year or 10% of statutory surplus of the company as of previous calendar year-end. The maximum dividend payment which may be made without prior approval in 2017 is $86.0 million . As the sole owner of NWLIC, all dividends declared by National Western are payable entirely to NWLGI and are eliminated in consolidation. In the second quarter of 2017 National Western declared and paid a $4.0 million dividend to NWLGI. During the third quarter of 2017 National Western declared a $3.0 million dividend payable to NWLGI which was subsequently paid on October 16, 2017. In the nine months ended September 30, 2016, National Western declared a cash dividend of $3.0 million payable to NWLGI which was subsequently paid on October 3, 2016. NWLGI did not declare or pay cash dividends on its common shares during the nine months ended September 30, 2017 and 2016 .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share of common stock are computed by dividing net income by the weighted-average basic common shares outstanding during the period. Diluted earnings per share, by definition, assumes the issuance of common shares applicable to stock options in the denominator. However, settlement of stock option exercises in cash or by issuance of shares is at discretion of the Company's optionholders and such exercises have predominantly been in cash. Consequently, the Company's stock options outstanding are not considered potentially dilutive under accounting guidance. Net income for the periods shown is allocated between Class A shares and Class B shares based upon (1) the proportionate number of shares issued and outstanding as of the end of the period, and (2) the per share dividend rights of the two classes under the Company's Restated Certificate of Incorporation (the Class B dividend per share is equal to one-half the Class A dividend per share). Three Months Ended September 30, 2017 2016 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 21,813 33,736 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 21,813 33,736 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 21,196 617 32,782 954 Net income $ 21,196 617 32,782 954 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 Effect of dilutive stock options — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 Basic Earnings Per Share $ 6.17 3.08 9.54 4.77 Diluted Earnings Per Share $ 6.17 3.08 9.54 4.77 Nine Months Ended September 30, 2017 2016 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 70,834 77,280 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 70,834 77,280 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 68,831 2,003 75,095 2,185 Net income $ 68,831 2,003 75,095 2,185 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 Effect of dilutive stock options — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 Basic Earnings Per Share $ 20.03 10.02 21.85 10.93 Diluted Earnings Per Share $ 20.03 10.02 21.85 10.93

Pension and Other Postretiremen

Pension and Other Postretirement Plans	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Pension and Other Postretirement Plans	PENSION AND OTHER POSTRETIREMENT PLANS (A) Defined Benefit Pension Plans National Western sponsors a qualified defined benefit pension plan covering employees enrolled prior to 2008. The plan provides benefits based on the participants' years of service and compensation. The company makes annual contributions to the plan that comply with the minimum funding provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). On October 19, 2007, National Western's Board of Directors approved an amendment to freeze the pension plan as of December 31, 2007. The freeze ceased future benefit accruals to all participants and closed the plan to any new participants. In addition, all participants became immediately 100% vested in their accrued benefits as of that date. Fair values of plan assets and liabilities are measured as of the prior December 31 for each respective year. The following table summarizes the components of net periodic benefit cost. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Service cost $ 27 26 81 79 Interest cost 240 250 718 750 Expected return on plan assets (306 ) (304 ) (920 ) (912 ) Amortization of prior service cost — — — — Amortization of net loss 159 193 477 579 Net periodic benefit cost $ 120 165 356 496 The service cost shown above for each period represents plan expenses expected to be paid out of plan assets. Under the clarified rules of the Pension Protection Act, plan expenses paid from plan assets are to be included in the plan's service cost component. The company's minimum required contribution for the 2017 plan year is $0.2 million . There was no remaining contribution payable for the 2016 plan year as of September 30, 2017 . As of September 30, 2017 , the company had contributed a total of $0.0 million to the plan for the 2017 plan year. National Western also sponsors a nonqualified defined benefit plan primarily for senior officers. The plan provides benefits based on the participants' years of service and compensation. The pension obligations and administrative responsibilities of the plan are maintained by a pension administration firm, which is a subsidiary of American National Insurance Company ("ANICO"). ANICO has guaranteed the payment of pension obligations under the plan. However, the company has a contingent liability with respect to the plan should these entities be unable to meet their obligations under the existing agreements. Also, the company has a contingent liability with respect to the plan in the event that a plan participant continues employment with National Western beyond age seventy, the aggregate average annual participant salary increases exceed 10% per year, or any additional employees become eligible to participate in the plan. If any of these conditions are met, the company would be responsible for any additional pension obligations resulting from these items. Amendments were made to the plan to allow an additional employee to participate and to change the benefit formula for the then Chairman of the company. As previously mentioned, these additional obligations are a liability to the company. Effective December 31, 2004, this plan was frozen with respect to the continued accrual of benefits of the then Chairman and the then President of the company in order to comply with law changes under the American Jobs Creation Act of 2004 ("Act"). Effective July 1, 2005, National Western established a second non-qualified defined benefit plan for the benefit of the then Chairman of the company. This plan is intended to provide for post-2004 benefit accruals that mirror and supplement the pre-2005 benefit accruals under the previously discussed non-qualified plan, while complying with the requirements of the Act. Effective November 1, 2005, National Western established a third non-qualified defined benefit plan for the benefit of the then President of the company. This plan is intended to provide for post-2004 benefit accruals that supplement the pre-2005 benefit accruals under the first non-qualified plan as previously discussed, while complying with the requirements of the Act. The following table summarizes the components of net periodic benefit costs for the nonqualified defined benefit plans. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Service cost $ 204 109 612 327 Interest cost 347 265 1,041 794 Amortization of prior service cost 15 15 45 45 Amortization of net loss 818 501 2,455 1,503 Net periodic benefit cost $ 1,384 890 4,153 2,669 The company expects to contribute $2.0 million to these plans in 2017 . As of September 30, 2017 , the company has contributed $1.6 million to the plans. (B) Defined Benefit Postretirement Healthcare Plans National Western sponsors two healthcare plans to provide postretirement benefits to certain fully-vested individuals. The following table summarizes the components of net periodic benefit costs. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Interest cost $ 35 30 104 90 Amortization of prior service cost 25 26 77 78 Amortization of net loss 10 — 31 — Net periodic benefit cost $ 70 56 212 168 The company expects to contribute minimal amounts to the plan in 2017 .

Segment and Other Operating Inf

Segment and Other Operating Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment and Other Operating Information	SEGMENT AND OTHER OPERATING INFORMATION The Company defines its reportable operating segments as domestic life insurance, international life insurance, and annuities. These segments are organized based on product types and geographic marketing areas. A summary of segment information as of September 30, 2017 and December 31, 2016 for the Condensed Consolidated Balance Sheet items and for the three and nine months ended September 30, 2017 and September 30, 2016 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: September 30, 2017 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 95,894 254,150 598,234 — 948,278 Total segment assets 1,071,664 1,238,990 9,306,527 309,197 11,926,378 Future policy benefits 909,407 904,097 8,178,265 — 9,991,769 Other policyholder liabilities 14,441 14,635 107,996 — 137,072 December 31, 2016 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 90,485 243,106 648,714 — 982,305 Total segment assets 971,990 1,232,648 9,193,980 298,481 11,697,099 Future policy benefits 830,460 919,380 8,109,255 — 9,859,095 Other policyholder liabilities 13,998 10,528 118,865 — 143,391 Condensed Consolidated Statement of Earnings: Three Months Ended September 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 9,907 30,353 5,293 — 45,553 Net investment income 17,385 15,711 114,123 4,472 151,691 Other revenues 11 26 26 4,609 4,672 Total revenues 27,303 46,090 119,442 9,081 201,916 Life and other policy benefits 3,483 8,437 9,095 — 21,015 Amortization of deferred policy acquisition costs 2,517 (21,585 ) 37,790 — 18,722 Universal life and annuity contract interest 14,119 9,112 84,568 — 107,799 Other operating expenses 4,086 5,661 8,714 4,135 22,596 Federal income taxes (benefit) 1,061 15,473 (7,007 ) 1,792 11,319 Total expenses 25,266 17,098 133,160 5,927 181,451 Segment earnings (loss) $ 2,037 28,992 (13,718 ) 3,154 20,465 Nine Months Ended September 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 27,822 91,563 16,583 — 135,968 Net investment income 51,998 48,581 346,031 19,435 466,045 Other revenues 30 73 90 13,521 13,714 Total revenues 79,850 140,217 362,704 32,956 615,727 Life and other policy benefits 13,850 19,399 25,377 — 58,626 Amortization of deferred acquisition costs 8,300 (7,874 ) 85,566 — 85,992 Universal life and annuity contract interest 41,576 36,871 221,415 — 299,862 Other operating expenses 13,975 18,846 28,588 12,622 74,031 Federal income taxes (benefit) 740 25,125 605 7,001 33,471 Total expenses 78,441 92,367 361,551 19,623 551,982 Segment earnings (loss) $ 1,409 47,850 1,153 13,333 63,745 Three Months Ended September 30, 2016 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 8,507 31,066 5,391 — 44,964 Net investment income 12,294 12,763 97,384 4,540 126,981 Other revenues 7 10 139 4,320 4,476 Total revenues 20,808 43,839 102,914 8,860 176,421 Life and other policy benefits 5,338 5,038 7,054 — 17,430 Amortization of deferred acquisition costs (4,331 ) 7,296 21,430 — 24,395 Universal life and annuity contract interest 9,795 11,287 46,694 — 67,776 Other operating expenses 4,847 6,691 7,526 4,531 23,595 Federal income taxes (benefit) 1,667 3,591 6,549 1,209 13,016 Total expenses 17,316 33,903 89,253 5,740 146,212 Segment earnings (loss) $ 3,492 9,936 13,661 3,120 30,209 Nine Months Ended September 30, 2016 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 24,814 95,291 17,407 — 137,512 Net investment income 28,011 30,203 261,579 15,939 335,732 Other revenues 37 50 145 13,818 14,050 Total revenues 52,862 125,544 279,131 29,757 487,294 Life and other policy benefits 13,629 14,789 20,153 — 48,571 Amortization of deferred acquisition costs 989 11,720 75,872 — 88,581 Universal life and annuity contract interest 20,855 19,643 139,094 — 179,592 Other operating expenses 11,745 17,867 23,044 13,650 66,306 Federal income taxes (benefit) 1,833 19,977 6,808 5,229 33,847 Total expenses 49,051 83,996 264,971 18,879 416,897 Segment earnings (loss) $ 3,811 41,548 14,160 10,878 70,397 Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 45,553 44,964 135,968 137,512 Net investment income 151,691 126,981 466,045 335,732 Other revenues 4,672 4,476 13,714 14,050 Realized gains (losses) on investments 2,074 5,426 10,906 10,589 Total condensed consolidated premiums and other revenues $ 203,990 181,847 626,633 497,883 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 11,319 13,016 33,471 33,847 Taxes on realized gains (losses) on investments 726 1,899 3,817 3,706 Total condensed consolidated Federal income taxes $ 12,045 14,915 37,288 37,553 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Net Earnings : Total segment earnings $ 20,465 30,209 63,745 70,397 Realized gains (losses) on investments, net of taxes 1,348 3,527 7,089 6,883 Total condensed consolidated net earnings $ 21,813 33,736 70,834 77,280 September 30, December 31, 2017 2016 (In thousands) Assets : Total segment assets $ 11,926,378 11,697,099 Other unallocated assets 211,913 197,882 Total condensed consolidated assets $ 12,138,291 11,894,981

Share-Based Payments

Share-Based Payments	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	SHARE-BASED PAYMENTS The Company had a stock and incentive plan ("1995 Plan") which provided for the grant of any or all of the following types of awards to eligible employees: (1) stock options, including incentive stock options and nonqualified stock options; (2) stock appreciation rights, in tandem with stock options or freestanding; (3) restricted stock or restricted stock units; and, (4) performance awards. The 1995 Plan began on April 21, 1995, and was amended on June 25, 2004 to extend the termination date to April 20, 2010. The number of shares of Class A, $1.00 par value, common stock which were allowed to be issued under the 1995 Plan, or as to which stock appreciation rights ("SARs") or other awards were allowed to be granted, could not exceed 300,000 . Effective June 20, 2008, the Company's shareholders approved a 2008 Incentive Plan (“2008 Plan”). The 2008 Plan is substantially similar to the 1995 Plan and authorized an additional number of Class A common stock shares eligible for issue not to exceed 300,000 . These plans were assumed by NWLGI from National Western pursuant to the terms of the holding company reorganization in 2015. On June 15, 2016, stockholders of NWLGI approved the Incentive Plan, which is a stock and incentive plan essentially similar to the 2008 Plan. The Incentive Plan includes additional provisions, most notably regarding the definition of performance objectives which could be used in the issuance of the fourth type of award noted above (performance awards). All of the employees of the Company and its subsidiaries are eligible to participate in the current Incentive Plan. In addition, directors of the Company are eligible to receive the same types of awards as employees except that they are not eligible to receive incentive stock options. Company directors, including members of the Compensation and Stock Option Committee, are eligible for nondiscretionary stock options. All current stock options outstanding were granted under the 1995 Plan and 2008 Plan. Employee stock option and SARs granted vest 20% annually following three years of service following the grant date. Directors' stock option and SAR grants vest 20% annually following one year of service from the date of grant. Effective during March 2006, the Company adopted and implemented a limited stock buy-back program with respect to the 1995 Plan which provides stock option holders the additional alternative of selling shares acquired through the exercise of options directly back to the Company. Option holders may elect to sell such acquired shares back to the Company at any time within ninety (90) days after the exercise of options at the prevailing market price as of the date of notice of election. The buy-back program did not alter the terms and conditions of the 1995 Plan; however, the program necessitated a change in accounting from the equity classification to the liability classification. In August 2008, the Company implemented another limited stock buy-back program, substantially similar to the 2006 program, for shares issued under the 2008 Plan. These plans were assumed as well by NWLGI from National Western pursuant to the terms of the holding company reorganization. The Incentive Plan allows for certain other share or unit awards which are solely paid out in cash based on the value of the Company's shares, or changes therein, as well as the financial performance of the Company under pre-determined target performance metrics. Certain awards, such as restricted stock units (RSUs) provide solely for cash settlement based upon the market price of the Company's Class A commons shares, often referred to as "phantom stock-based awards". Unlike share-settled awards, which have a fixed grant-date fair value, the fair value of unsettled or unvested liability awards is remeasured at the end of each reporting period based on the change in fair value of a share. The liability and corresponding expense are adjusted accordingly until the award is settled. For employees, the vesting period for RSUs is 100% at the end of three years from the grant date. The RSUs are payable in cash at the vesting date equal to the closing price of the Company's Class A common share at that time. Other awards may involve performance share units (PSUs) which are units granted at a specified dollar amount per unit, typically linked to the Company's Class A common share price, that are subsequently multiplied by an attained performance factor to derive the number of PSUs to be paid as cash compensation at the vesting date. PSUs also vest three years from the date of grant. For PSUs, the performance period begins the first day of the calendar year in which the PSUs are granted and runs three calendar years. At that time, the three-year performance outcome will be measured against the pre-defined target amounts to determine the number of PSUs earned as compensation. Directors of the Company are eligible to receive RSUs under the Incentive Plan. As shown in the table below, during the nine months ended September 30, 2017 and 2016, the Company granted RSUs to directors based upon the closing market price per Class A common share at the time of the grant. Unlike RSUs granted to officers, the RSUs granted to directors vest one year from the date of grant. They are payable in cash at the vesting date equal to the closing price of the Company's Class A common share at that time. The following table shows all grants issued to officers and directors for the three and nine months ended September 30, 2017 and 2016 . These grants were made based upon closing market price per Class A common share at the grant date. Three Months Ended September 30, 2017 September 30, 2016 Officer Director Officer Director SARs — — — — RSUs — — — — PSUs — — — — Nine Months Ended September 30, 2017 September 30, 2016 Officer Director Officer Director SARs 11,715 — 14,643 — RSUs 2,725 1,660 3,661 2,563 PSUs 4,526 — 5,727 — The Company uses the current fair value method to measure compensation cost for awards granted under the share-based plans. As of September 30, 2017 and 2016 , the liability balance was $16.6 million and $6.4 million , respectively. A summary of shares available for grant and related activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2017 291,000 19,268 $ 240.47 Exercised — (250 ) $ 255.13 Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at September 30, 2017 291,000 19,018 $ 240.28 Liability Awards SAR RSU PSU Balance at January 1, 2017 77,178 6,029 5,426 Exercised (1,862 ) (2,563 ) — Forfeited (400 ) (238 ) — Granted 11,715 4,385 4,526 Balance at September 30, 2017 86,631 7,613 9,952 Stock options, SARs, and RSUs shown as forfeited in the above tables represent vested and unvested awards not exercised by plan participants prior to their termination from the Company. Forfeited stock options, if any, are not shown as being added back to the "Shares Available For Grant" balance as they were awarded under the 1995 Plan which was terminated during calendar year 2010. The total intrinsic value of shared-based compensation exercised was $1.0 million and $0.1 million for the nine months ended September 30, 2017 and 2016 , respectively. The total share-based compensation paid during the period was $1.0 million and $0.1 million for the nine months ended September 30, 2017 and 2016 , respectively. The total fair value of stock options and SARs vested during the nine months ended September 30, 2017 and 2016 was $0.6 million and $0.3 million , respectively. For the nine months ended September 30, 2017 and 2016 , the total cash received from the exercise of stock options under the Plans was $0.0 million and $0.0 million , respectively. The following table summarizes information about stock options and SARs outstanding at September 30, 2017 . Options/SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: 255.13 (options) 13,018 0.5 years 13,018 208.05 (options) 6,000 0.6 years 6,000 114.64 (SARs) 11,900 1.3 years 11,900 132.56 (SARs) 21,968 4.0 years 13,962 210.22 (SARs) 28,050 6.1 years 6,850 216.48 (SARs) 12,998 8.4 years 3,962 311.16 (SARs) 11,512 9.4 years — 310.55 (SARs) 203 9.6 years — Totals 105,649 55,692 Aggregate intrinsic value (in thousands) $ 15,670 $ 9,354 The aggregate intrinsic value in the table above is based on the closing Class A stock price of $ 349.00 per share on September 30, 2017 . The stock options shown above with exercise prices of $255.13 and $208.05 have remaining contractual lives of less than one year each. The option holders for these respective grants have until the end of the contractual life, April 18, 2018 and June 20, 2018, respectively, to exercise these holdings or otherwise forfeit the option grants held. In estimating the fair value of the share-based awards outstanding at September 30, 2017 and December 31, 2016 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. September 30, December 31, Expected term of options 0.5 to 9.6 years 1.3 to 9.1 years Expected volatility weighted-average 23.52 % 23.83 % Expected dividend yield 0.10 % 0.12 % Risk-free rate weighted-average 1.60 % 1.03 % The Company reviewed the contractual term relative to the options as well as perceived future behavior patterns of exercise. Volatility is based on the Company’s historical volatility over the expected term of the option’s expected exercise date. The pre-tax compensation cost/(benefit) recognized in the financial statements related to these plans was $1.3 million and $5.6 million for the three and nine months ended September 30, 2017 and $1.7 million and $(1.1) million for the three and nine months ended September 30, 2016, respectively. The related tax expense/(benefit) recognized was $(0.5) million and $(2.0) million for the three and nine months ended September 30, 2017 and $(0.6) million and $0.4 million for the three and nine months ended September 30, 2016, respectively. As of September 30, 2017 , the total compensation cost related to nonvested share based awards not yet recognized was $5.9 million . This amount is expected to be recognized over a weighted-average period of 1.3 years . The Company recognizes compensation cost over the graded vesting periods.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (A) Legal Proceedings In the normal course of business, the Company is involved or may become involved in various legal actions in which claims for alleged economic and punitive damages have been or may be asserted, some for substantial amounts. In recent years, carriers offering life insurance and annuity products have faced litigation, including class action lawsuits, alleging improper product design, improper sales practices, and similar claims. Given the uncertainty involved in these types of actions, the ability to make a reliable evaluation of the likelihood of an unfavorable outcome or an estimate of the amount of or range of potential loss is endemic to the particular circumstances and evolving developments of each individual matter on its own merits. On October 26, 2011 the Brazilian Superintendence of Private Insurance (“SUSEP”) attempted to serve National Western with a subpoena regarding an administrative proceeding initiated by SUSEP in which it alleged that National Western was operating as an insurance company in Brazil without due authorization. National Western had been informed that SUSEP was attempting to impose a penal fine, based on currency exchange rates at that time, of approximately $6.0 billion on the company. SUSEP unsuccessfully attempted to serve National Western with notice regarding this matter. National Western does not transact business in Brazil and has no officers, employees, property, or assets in Brazil. National Western believes that SUSEP has no jurisdiction over the company, that SUSEP's attempts at service of process were invalid, and that any penal fine would be unenforceable. In addition, due to a new law recently enacted in Brazil the penal fine has been limited to 3 million reais (approximately $960,000 ). For the reasons described above, the Company does not believe that this matter meets the definition of a material pending legal proceeding as such term is defined in Item 103 of Regulation S-K but has included the foregoing description solely due to the purported amount of the fine sought at that time. Despite SUSEP's lack of jurisdiction over National Western and absence of National Western officers, employees, property, or assets in Brazil, SUSEP affirmed its imposition of a penal fine against National Western, but in the reduced amount of 3 million reais (approximately $960,000 ). In light of the substantial reduction in the proposed penal fine by SUSEP, during the fourth quarter of 2016 National Western paid the penal fine in the reduced amount under protest and thereby retained its rights to seek judicial review in Brazil of the merits of the SUSEP charges. In consideration of these developments, National Western ceased accepting new applications in the fourth quarter of 2015 from residents in Brazil. National Western was the named defendant in the case of Damaris Maldonado Vinas, et al. vs. National Western Life Insurance , in which the plaintiffs, after National Western had paid the death benefits to the beneficiary (Francisco Iglesias-Alvarez) upon the annuitant’s (Carlos Iglesias-Alvarez) death, sought to annul two annuity policies issued by National Western at the behest of Carlos Iglesias-Alvarez and which named Francisco Iglesias-Alvarez as their beneficiary. On March 31, 2016, the United States District Court for the District of Puerto Rico (the “Court”) issued its Opinion and Order on the pending Motions for Summary Judgment submitted by the parties, and therein denied National Western’s motion and granted plaintiffs’ motion voiding the two annuities and requesting a refund of the premiums paid ( $2.9 million ). National Western vigorously defended the case and believes that the Court’s Opinion and Order is contrary to applicable law. As such, National Western filed a Motion for Reconsideration of Opinion and Order and Corresponding Judgment with the Court on April 27, 2016, which the Court denied on May 5, 2016. National Western filed a Notice of Appeal on June 10, 2016, filed its Appeal Brief on September 12, 2016, and oral arguments with the U.S. Court of Appeals for the First Circuit were held on March 9, 2017. On June 29, 2017, the Court of Appeals vacated the district court's judgment and remanded to the district court to determine whether it is nevertheless equitable for the case to proceed without Francisco Iglesias-Alvarez. Plaintiffs filed a Motion in Support of Determination in Equity and Good Conscience That Action Should Proceed Among Existing Parties Under Fed.R.Civ.P. 19(B) on September 14, 2017, and National Western filed its Opposition to Plaintiff’s Motion on October 27, 2017. On September 28, 2017, a purported shareholder derivative lawsuit was filed in the 122nd District Court of Galveston County, State of Texas entitled Robert L. Moody, Jr. derivatively on behalf of National Western Life Insurance Company and National Western Life Group, Inc. v. Ross Rankin Moody, et al., naming certain current and former directors and current officers as defendants. The complaint alleges that the defendants breached their fiduciary duties in the conduct of their duties as board members by failing to act (i) on an informed basis and (ii) in good faith or with the honest belief that their actions were in the best interests of the Company. The complaint seeks an undetermined amount of damages, attorneys’ fees and costs, and equitable relief, including the removal of the Company’s Chairman and Chief Executive Officer and other board members and/or officers of the Company. The Company believes that the claims in the complaint are baseless and without merit, will vigorously defend this lawsuit, and will seek reimbursement of all legal costs and expenses from plaintiff. The Company believes, based on information currently available, that the final outcome of this lawsuit will not have a material adverse effect on the Company’s business, results of operations, or consolidated financial position. The companies and directors filed their respective Pleas to the Jurisdiction contesting the plaintiff's standing to even pursue this action, along with their Answers, on October 27, 2017. Although there can be no assurances, at the present time, the Company does not anticipate that the ultimate liability arising from such other potential, pending, or threatened legal actions will have a material adverse effect on the financial condition or operating results of the Company. Separately, in 2015, Brazilian authorities commenced an investigation into possible violations of Brazilian criminal law in connection with the issuance of National Western insurance policies to Brazilian residents, and in assistance of such investigation a Commissioner appointed by the U.S. District Court for the Western District of Texas issued a subpoena upon the Company to provide information relating to such possible violations. No conclusion can be drawn at this time as to its outcome or how such outcome may impact the Company’s business, results of operations, or financial condition. National Western is cooperating with the relevant governmental authorities in regard to this matter. (B) Financial Instruments In order to meet the financing needs of its customers in the normal course of business, the Company is a party to financial instruments with off-balance sheet risk. These financial instruments are commitments to extend credit which involve elements of credit and interest rate risk in excess of the amounts recognized in the Condensed Consolidated Balance Sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amounts, assuming that the amounts are fully advanced and that collateral or other security is of no value. Commitments to extend credit are legally binding agreements to lend to a customer that generally have fixed expiration dates or other termination clauses and may require payment of a fee. Commitments do not necessarily represent future liquidity requirements, as some could expire without being drawn upon. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company controls the credit risk of these transactions through credit approvals, limits, and monitoring procedures. The Company had $14.9 million commitments to fund new loans and $1.4 million in commitments to extend credit relating to existing loans at September 30, 2017 . The Company evaluates each customer's creditworthiness on a case-by-case basis.

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS (A) Investment Gains and Losses The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Available for sale debt securities: Realized gains on disposal $ 1,529 1,773 4,137 2,455 Realized losses on disposal — (23 ) — (29 ) Held to maturity debt securities: Realized gains on disposal 555 3,278 4,059 4,764 Realized losses on disposal — (3 ) (34 ) (109 ) Equity securities realized gains (losses) (10 ) 401 87 607 Real estate gains (losses) — — 2,657 2,901 Totals $ 2,074 5,426 10,906 10,589 Disposals in the held to maturity category during the periods shown primarily represent calls initiated by the credit issuer of the debt security. It is the Company's policy to initiate disposals of debt securities in the held to maturity category only in instances in which the credit status of the issuer comes into question and the realization of all or a significant portion of the investment principal of the holding is deemed to be in jeopardy. The Company uses the specific identification method in computing realized gains and losses. For the three months ended September 30, 2017 and 2016 the percentage of gains on bonds due to the call of securities was 100.0% and 95.0% , respectively. For the nine months ended September 30, 2017 and 2016 the percentage of gains on bonds due to the call of securities was 88.0% and 87.0% , respectively. This includes calls out of the Company's available for sale portfolio of debt securities. The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 26 27 69 80 Portion of loss (gain) recognized in comprehensive income (26 ) (27 ) (69 ) (80 ) Net impairment losses on debt securities recognized in earnings — — — — Equity securities impairments — — — — Totals $ — — — — The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss. Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 1,440 1,440 2,278 Reductions for securities sold during current period — — (838 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — — Ending balance, cumulative credit losses related to other-than-temporary impairments $ 1,440 1,440 1,440 (B) Debt and Equity Securities The table below presents amortized costs and fair values of securities held to maturity at September 30, 2017 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,336 205 — 1,541 States and political subdivisions 455,435 21,927 (723 ) 476,639 Public utilities 1,109,167 37,863 (489 ) 1,146,541 Corporate 4,397,029 146,802 (7,402 ) 4,536,429 Residential mortgage-backed 1,293,507 38,274 (3,922 ) 1,327,859 Home equity 7,377 1,305 — 8,682 Manufactured housing 1,144 87 — 1,231 Totals $ 7,264,995 246,463 (12,536 ) 7,498,922 The table below presents amortized costs and fair values of securities available for sale at September 30, 2017 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 577 9 — 586 Foreign governments 9,962 451 — 10,413 Public utilities 103,908 4,864 — 108,772 Corporate 2,783,263 98,637 (8,125 ) 2,873,775 Residential mortgage-backed 21,790 1,693 (69 ) 23,414 Home equity 8,287 380 — 8,667 Manufactured housing — — — — 2,927,787 106,034 (8,194 ) 3,025,627 Equity securities 14,807 5,371 (202 ) 19,976 Totals $ 2,942,594 111,405 (8,396 ) 3,045,603 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2016 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,333 235 — 1,568 States and political subdivisions 456,069 22,697 (2,841 ) 475,925 Public utilities 1,087,176 36,904 (3,133 ) 1,120,947 Corporate 4,237,029 116,720 (29,701 ) 4,324,048 Residential mortgage-backed 1,367,270 42,345 (6,468 ) 1,403,147 Home equity 8,826 1,462 — 10,288 Manufactured housing 1,556 132 — 1,688 Totals $ 7,159,259 220,495 (42,143 ) 7,337,611 The table below presents amortized costs and fair values of securities available for sale at December 31, 2016 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 580 — (6 ) 574 Foreign governments 9,956 380 — 10,336 Public utilities 127,181 4,745 (232 ) 131,694 Corporate 2,802,852 80,414 (22,603 ) 2,860,663 Residential mortgage-backed 27,110 2,137 (91 ) 29,156 Home equity 9,341 286 — 9,627 Manufactured housing — — — — 2,977,020 87,962 (22,932 ) 3,042,050 Equity securities 14,022 4,657 (366 ) 18,313 Totals $ 2,991,042 92,619 (23,298 ) 3,060,363 The Company does not consider securities to be other-than-temporarily impaired when the market decline is attributable to factors such as interest rate movements, market volatility, liquidity, spread widening and credit quality and when recovery of all amounts due under the contractual terms of the security is anticipated. Based on the review and the Company's ability and intent not to sell these securities until maturity, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2017 . The Company will monitor the investment portfolio for future changes in issuer facts and circumstances that could result in future impairments beyond those currently identified. During the three and nine months ended September 30, 2017 , the Company recorded no other-than-temporary impairment on debt and equity securities. Unrealized losses for securities held to maturity and securities available for sale decreased during the first nine months of 2017 primarily due to the downward movement in market interest rates during this period (which increases the market price of debt securities). The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2017 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 39,659 (723 ) — — 39,659 (723 ) Public utilities 41,567 (489 ) — — 41,567 (489 ) Corporate 456,605 (5,863 ) 104,355 (1,539 ) 560,960 (7,402 ) Residential mortgage-backed 220,414 (3,556 ) 9,036 (366 ) 229,450 (3,922 ) Total temporarily impaired securities $ 758,245 (10,631 ) 113,391 (1,905 ) 871,636 (12,536 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2017 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — — — — — Public utilities — — — — — — Corporate 350,939 (6,120 ) 57,034 (2,005 ) 407,973 (8,125 ) Residential mortgage-backed 1,371 (14 ) 1,115 (55 ) 2,486 (69 ) 352,310 (6,134 ) 58,149 (2,060 ) 410,459 (8,194 ) Equity securities 940 (128 ) 375 (74 ) 1,315 (202 ) Total temporarily impaired securities $ 353,250 (6,262 ) 58,524 (2,134 ) 411,774 (8,396 ) The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2016 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 80,507 (2,841 ) — — 80,507 (2,841 ) Public utilities 162,587 (3,133 ) — — 162,587 (3,133 ) Corporate 1,063,194 (22,867 ) 179,113 (6,834 ) 1,242,307 (29,701 ) Residential mortgage-backed 274,045 (5,989 ) 8,943 (479 ) 282,988 (6,468 ) Total temporarily impaired securities $ 1,580,333 (34,830 ) 188,056 (7,313 ) 1,768,389 (42,143 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2016 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 574 (6 ) — — 574 (6 ) Public utilities 10,765 (232 ) — — 10,765 (232 ) Corporate 680,988 (16,427 ) 106,969 (6,176 ) 787,957 (22,603 ) Residential mortgage-backed 1,292 (91 ) — — 1,292 (91 ) 693,619 (16,756 ) 106,969 (6,176 ) 800,588 (22,932 ) Equity securities 4,154 (305 ) 422 (61 ) 4,576 (366 ) Total temporarily impaired securities $ 697,773 (17,061 ) 107,391 (6,237 ) 805,164 (23,298 ) Debt securities. The gross unrealized losses for debt securities are made up of 168 individual issues, or 12.7% of the total debt securities held by the Company at September 30, 2017 . The market value of these bonds as a percent of amortized cost approximates 98.4% . Of the 168 securities, 28 , or 16.7% , fall in the 12 months or greater aging category; and 163 were rated investment grade at September 30, 2017 . Equity securities. The gross unrealized losses for equity securities are made up of 26 individual issues at September 30, 2017 . These holdings are reviewed quarterly for impairment. The amortized cost and fair value of investments in debt securities at September 30, 2017 , by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Debt Securities Available for Sale Debt Securities Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due in 1 year or less $ 107,418 109,701 327,702 334,140 Due after 1 year through 5 years 1,134,227 1,193,059 2,165,828 2,270,603 Due after 5 years through 10 years 1,604,862 1,638,814 3,103,155 3,174,126 Due after 10 years 51,203 51,972 366,282 382,281 2,897,710 2,993,546 5,962,967 6,161,150 Mortgage and asset-backed securities 30,077 32,081 1,302,028 1,337,772 Total $ 2,927,787 3,025,627 7,264,995 7,498,922 (C) Transfer of Securities During the three and nine months ended September 30, 2017 the Company made no transfers from the held to maturity category to securities available for sale. (D) Mortgage Loans and Real Estate A financing receivable is a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in a company's statement of financial position. Mortgage, equity, participation and mezzanine loans on real estate are considered financing receivables reported by the Company. Credit and default risk is minimized through strict underwriting guidelines and diversification of underlying property types and geographic locations. In addition to being secured by the property, mortgage loans with leases on the underlying property are often guaranteed by the lease payments and also by the borrower. This approach has proved to result in quality mortgage loans with few defaults. Mortgage loan interest income is recognized on an accrual basis with any premium or discount amortized over the life of the loan. Prepayment and late fees are recorded on the date of collection. Loans in foreclosure, loans considered impaired or loans past due 90 days or more are placed on a non-accrual status. If a mortgage loan is determined to be on non-accrual status, the mortgage loan does not accrue any revenue into the Condensed Consolidated Statements of Earnings. The loan is independently monitored and evaluated as to potential impairment or foreclosure. If delinquent payments are made and the loan is brought current, then the Company returns the loan to active status and accrues income accordingly. The Company had no mortgage loans past due 90 days or more at September 30, 2017 or 2016 and as a result all interest income was recognized at September 30, 2017 and 2016 . The following table represents the mortgage loan portfolio by loan-to-value ratio. September 30, 2017 December 31, 2016 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 80,202 42.4 $ 54,783 31.3 50% to 60% 27,630 14.6 12,946 7.4 60% to 70% 64,253 33.9 76,959 43.9 70% to 80% 4,657 2.5 6,192 3.5 80% to 90% 6,999 3.7 18,688 10.7 Greater than 90% 5,532 2.9 5,616 3.2 Gross balance 189,273 100.0 175,184 100.0 Allowance for possible losses (650 ) (0.3 ) (650 ) (0.4 ) Totals $ 188,623 99.7 $ 174,534 99.6 (1) Loan-to-Value Ratio is determined using the most recent appraised value. Appraisals are required at the time of funding and may be updated if a material change occurs from the original loan agreement. All mortgage loans are analyzed quarterly in order to monitor the financial quality of these assets. Based on ongoing monitoring, mortgage loans with a likelihood of becoming delinquent are identified and placed on an internal “watch list”. Among the criteria that may indicate a potential problem include: major tenant vacancies or bankruptcies, late payments, and loan relief/restructuring requests. The mortgage loan portfolio is analyzed for the need for a valuation allowance on any loan that is on the internal watch list, in the process of foreclosure or that currently has a valuation allowance. Mortgage loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. When it is determined that a loan is impaired, a loss is recognized for the difference between the carrying amount of the mortgage loan and the estimated value reduced by the cost to sell. Estimated value is typically based on the loan's observable market price or the fair value of the collateral less cost to sell. Impairments and changes in the valuation allowance are reported in net realized investment gains (losses) in the Condensed Consolidated Statements of Earnings. The following table represents the mortgage loan allowance. September 30, 2017 December 31, 2016 (In thousands) Balance, beginning of period $ 650 650 Provision — — Releases — — Balance, end of period $ 650 650 The Company's direct investments in real estate are not a significant portion of its total investment portfolio and totaled approximately $31.3 million and $31.8 million at September 30, 2017 and December 31, 2016 , respectively. The Company recognized operating income on real estate properties of approximately $2.1 million and $2.0 million for the first nine months of 2017 and 2016 , respectively.

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	FAIR VALUES OF FINANCIAL INSTRUMENTS For financial instruments, the FASB provides guidance which defines fair value, establishes a framework for measuring fair value under GAAP, and requires additional disclosures about fair value measurements. In compliance with this GAAP guidance, the Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the Condensed Consolidated Balance Sheets are categorized as follows: Level 1: Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. These generally provide the most reliable evidence and are used to measure fair value whenever available. The Company's Level 1 assets are equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2: Fair value is based upon significant inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable for substantially the full term of the asset or liability through corroboration with observable market data as of the reporting date. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, model-derived valuations whose inputs are observable or whose significant value drivers are observable and other observable inputs. The Company’s Level 2 assets include fixed maturity debt securities (corporate and private bonds, government or agency securities, asset-backed and mortgage-backed securities), and preferred stock. Valuations are generally obtained from third party pricing services for identical or comparable assets or determined through use of valuation methodologies using observable market inputs. Level 3: Fair value is based on significant unobservable inputs which reflect the entity’s or third party pricing service’s assumptions about the assumptions market participants would use in pricing an asset or liability. The Company’s Level 3 assets are over-the-counter derivative contracts and the Company’s Level 3 liabilities consist of share-based compensation obligations and certain product-related embedded derivatives. Valuations are estimated based on non-binding broker prices or internally developed valuation models or methodologies, discounted cash flow models and other similar techniques. The following tables set forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,025,627 — 3,025,627 — Equity securities, available for sale 19,976 19,976 — — Derivatives, index options 163,536 — — 163,536 Total assets $ 3,209,139 19,976 3,025,627 163,536 Policyholder account balances (a) $ 175,221 — — 175,221 Other liabilities (b) 16,641 — — 16,641 Total liabilities $ 191,862 — — 191,862 During the three and nine months ended September 30, 2017 , the Company had no transfers into or out of Levels 1, 2 or 3. December 31, 2016 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,042,050 — 3,042,050 — Equity securities, available for sale 18,313 18,313 — — Derivatives, index options 120,644 — — 120,644 Total assets $ 3,181,007 18,313 3,042,050 120,644 Policyholder account balances (a) $ 122,666 — — 122,666 Other liabilities (b) 12,027 — — 12,027 Total liabilities $ 134,693 — — 134,693 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation. The following tables present, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,025,627 — 3,025,627 — Priced internally — — — — Subtotal 3,025,627 — 3,025,627 — Equity securities, available for sale: Priced by third-party vendors 19,976 19,976 — — Priced internally — — — — Subtotal 19,976 19,976 — — Derivatives, index options: Priced by third-party vendors 163,536 — — 163,536 Priced internally — — — — Subtotal 163,536 — — 163,536 Total $ 3,209,139 19,976 3,025,627 163,536 Percent of total 100.0 % 0.6 % 94.3 % 5.1 % December 31, 2016 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,042,050 — 3,042,050 — Priced internally — — — — Subtotal 3,042,050 — 3,042,050 — Equity securities, available for sale: Priced by third-party vendors 18,313 18,313 — — Priced internally — — — — Subtotal 18,313 18,313 — — Derivatives, index options: Priced by third-party vendors 120,644 — — 120,644 Priced internally — — — — Subtotal 120,644 — — 120,644 Total $ 3,181,007 18,313 3,042,050 120,644 Percent of total 100.0 % 0.6 % 95.6 % 3.8 % The following tables provide additional information about fair value measurements for which significant unobservable (Level 3) inputs were utilized to determine fair value. For the Three Months Ended September 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2017 $ — — 149,341 149,341 173,356 Total realized and unrealized gains (losses): Included in net income — — 45,130 45,130 48,927 Purchases, sales, issuances and settlements, net: Purchases — — 19,847 19,847 19,847 Sales — — — — — Issuances — — — — 531 Settlements — — (50,782 ) (50,782 ) (50,799 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 163,536 163,536 191,862 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 16,436 16,436 — Benefits and expenses — — — — 17,195 Total $ — — 16,436 16,436 17,195 For the Three Months ended September 30, 2016 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2016 $ — — 63,319 63,319 81,056 Total realized and unrealized gains (losses): Included in net income — — 19,113 19,113 13,492 Purchases, sales, issuances and settlements, net: Purchases — — 18,848 18,848 18,848 Sales — — — — — Issuances — — — — 388 Settlements — — (11,183 ) (11,183 ) (11,255 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 90,097 90,097 102,529 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 23,851 23,851 — Benefits and expenses — — — — 25,150 Total $ — — 23,851 23,851 25,150 Nine Months Ended September 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2017 $ — — 120,644 120,644 134,693 Total realized and unrealized gains (losses): Included in net income — — 138,552 138,552 152,569 Purchases, sales, issuances and settlements, net: Purchases — — 55,226 55,226 55,226 Sales — — — — Issuances — — — — 1,275 Settlements — — (150,886 ) (150,886 ) (151,901 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 163,536 163,536 191,862 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 83,540 83,540 — Other operating expenses — — — — 87,894 Total $ — — 83,540 83,540 87,894 Nine Months Ended September 30, 2016 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2016 $ — — 38,409 38,409 66,028 Total realized and unrealized gains (losses): Included in net income — — 8,307 8,307 (7,691 ) Purchases, sales, issuances and settlements, net: Purchases — — 56,387 56,387 56,387 Sales — — — — — Issuances — — — — 921 Settlements — — (13,006 ) (13,006 ) (13,116 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 90,097 90,097 102,529 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 15,628 15,628 — Other operating expenses — — — — 13,582 Total $ — — 15,628 15,628 13,582 The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: September 30, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 163,536 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 163,536 Policyholder account balances $ 175,221 Deterministic cash flow model Projected option cost Other liabilities 16,641 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 191,862 December 31, 2016 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 120,644 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 120,644 Policyholder account balances $ 122,666 Deterministic cash flow model Projected option cost Other liabilities 12,027 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 134,693 Realized gains (losses) on debt and equity securities are reported in the Condensed Consolidated Statements of Earnings as net investment gains (losses) with liabilities reported as expenses. Unrealized gains (losses) on available for sale debt and equity securities are reported as other comprehensive income (loss) within the stockholders' equity section of the Condensed Consolidated Balance Sheet. The fair value hierarchy classifications are reviewed each reporting period. Reclassification of certain financial assets and liabilities may result based on changes in the observability of valuation attributes. Reclassifications are reported as transfers into and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. The carrying amounts and fair values of the Company's financial instruments are as follows: September 30, 2017 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,264,995 7,498,922 — 7,498,922 — Securities available for sale 3,045,603 3,045,603 19,976 3,025,627 — Cash and cash equivalents 170,560 170,560 170,560 — — Mortgage loans 188,623 189,739 — — 189,739 Policy loans 57,466 102,536 — — 102,536 Other loans 9,786 10,091 — — 10,091 Derivatives, index options 163,536 163,536 — — 163,536 Short-term investments — — — — — Life interest in Trust 7,550 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,806,058 7,418,285 — — 7,418,285 Immediate annuity and supplemental contracts 439,440 469,348 — — 469,348 December 31, 2016 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,159,259 7,337,611 — 7,337,611 — Securities available for sale 3,060,363 3,060,363 18,313 3,042,050 — Cash and cash equivalents 51,247 51,247 51,247 — — Mortgage loans 174,534 176,890 — — 176,890 Policy loans 58,699 101,092 — — 101,092 Other loans 14,343 14,898 — — 14,898 Derivatives, index options 120,644 120,644 — — 120,644 Life interest in Trust 7,550 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,739,337 7,367,851 — — 7,367,851 Immediate annuity and supplemental contracts 443,226 470,414 — — 470,414 Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Derivative Investments

Derivative Investments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Investments	DERIVATIVE INVESTMENTS Fixed-index products provide traditional fixed annuities and universal life contracts with the option to have credited interest rates linked in part to an underlying equity index or a combination of equity indices. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Condensed Consolidated Balance Sheets. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting in which future policy benefits are recorded as discounted debt instruments and accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its fixed-index annuity and life products. The index options act as hedges to match closely the returns on the underlying index or indices. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index or indices. As a result, changes to policyholders' liabilities are substantially offset by changes in the value of the options. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash may be paid to the company depending on the performance of the underlying index or indices and terms of the contract. The Company does not elect hedge accounting relative to these derivative instruments. The index options are reported at fair value in the accompanying Condensed Consolidated Financial Statements. The changes in the values of the index options and the changes in the policyholder liabilities are both reflected in the Condensed Consolidated Statements of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Condensed Consolidated Statements of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Condensed Consolidated Statements of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the company does not expect any of its counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which may further reduce the company's credit exposure. The tables below present the fair value of derivative instruments as of September 30, 2017 and December 31, 2016 , respectively. September 30, 2017 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 163,536 Fixed-index products Universal Life and Annuity Contracts $ 175,221 Total $ 163,536 $ 175,221 December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 120,644 Fixed-index products Universal Life and Annuity Contracts $ 122,666 Total $ 120,644 $ 122,666 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended September 30, 2017 and 2016 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 45,131 19,114 Fixed-index products Universal life and annuity contract interest (48,168 ) (12,194 ) $ (3,037 ) 6,920 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2017 and 2016 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 138,552 8,307 Fixed-index products Universal life and annuity contract interest (148,214 ) 5,645 $ (9,662 ) 13,952

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Subsequent events have been evaluated and no reportable items were identified.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS In January 2016, the FASB released accounting standards update (ASU) 2016-01, Recognition and Measurement of Financial Assets and Liabilities . The main provisions of the update are to eliminate the available for sale classification of accounting for equity securities and to adjust the fair value disclosures for financial instruments carried at amortized costs such that the disclosed fair values represent an exit price as opposed to an entry price. The provisions of this update will require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value will be adjustments to the income statement. The provisions of this update become effective for interim and annual periods beginning after December 15, 2017. The Company does not expect the requirements of this update to have a material impact on the Company’s financial position, results of operations or cash flows. In June 2016, the FASB released ASU 2016-13, Financial Instruments - Credit Losses , which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model. The objective of the expected credit loss model is for the reporting entity to recognize its estimate of expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. The guidance is effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained income. The Company is currently evaluating this guidance. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities , which amends the amortization period for certain purchased callable debt securities held at a premium. The amortization period for premiums is being shortened to the earliest call date. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company is currently evaluating this guidance. In May 2017, the FASB released ASU 2017-09, Compensation - Stock Compensation . The update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Accounting Standards Codification (ASC) Topic 718. An entity shall account for the effects of a modification described in ASC paragraphs 718-20-35-3 through 35-9, unless all the following are met: (1) The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (2) The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3) The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The provisions of this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In July 2017, the FASB released ASU 2017-11, Earnings Per Share; Distinguishing Liabilities from Equity; and, Derivatives and Hedging . This update includes: (I) Accounting for Certain Financial Instruments with Down Round Features, and (II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interest with a Scope Exception. Part I of this update changes the classification analysis of certain equity-linked financial instruments with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. Part II of this update recharacterizes the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In September 2017, the FASB released ASU 2017-13, Revenue Recognition (Topic 605), Revenue from contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) . This update adds SEC paragraphs pursuant to the SEC Staff Announcement made at the July 20, 2017 Emerging Issues Task Force (EITF) meeting to provide effective dates that differ for (1) public business entities and certain other specified entities and (2) all other entities. The Company does not expect an effect on the results of operations or financial position with the adoption of this ASU. The Company will adopt Topic 606 and 842 within the required effective dates set by the SEC. Amendment to Topic 605 does not affect the Company since management fees amongst affiliates are eliminated upon consolidation. Amendment to Topic 840 does not affect the Company since the Company does not have any Third-Party Value Guarantees embedded within its lease agreements that will have a material effect on the results of operations or financial position. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future consolidated financial statements.

Consolidation and Basis of Pr21

Consolidation and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and nine months ended September 30, 2017 and September 30, 2016 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Other net investment gains (losses) $ 1,519 2,151 4,224 3,033 Net OTTI losses recognized in earnings — — — — Earnings before Federal income taxes 1,519 2,151 4,224 3,033 Federal income taxes 532 753 1,478 1,062 Net earnings $ 987 1,398 2,746 1,971

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended September 30, 2017 2016 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 21,813 33,736 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 21,813 33,736 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 21,196 617 32,782 954 Net income $ 21,196 617 32,782 954 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 Effect of dilutive stock options — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 Basic Earnings Per Share $ 6.17 3.08 9.54 4.77 Diluted Earnings Per Share $ 6.17 3.08 9.54 4.77 Nine Months Ended September 30, 2017 2016 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 70,834 77,280 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 70,834 77,280 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 68,831 2,003 75,095 2,185 Net income $ 68,831 2,003 75,095 2,185 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 Effect of dilutive stock options — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 Basic Earnings Per Share $ 20.03 10.02 21.85 10.93 Diluted Earnings Per Share $ 20.03 10.02 21.85 10.93

Pension and Other Postretirem23

Pension and Other Postretirement Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Defined Benefit Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit cost. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Service cost $ 27 26 81 79 Interest cost 240 250 718 750 Expected return on plan assets (306 ) (304 ) (920 ) (912 ) Amortization of prior service cost — — — — Amortization of net loss 159 193 477 579 Net periodic benefit cost $ 120 165 356 496
Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit costs for the nonqualified defined benefit plans. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Service cost $ 204 109 612 327 Interest cost 347 265 1,041 794 Amortization of prior service cost 15 15 45 45 Amortization of net loss 818 501 2,455 1,503 Net periodic benefit cost $ 1,384 890 4,153 2,669
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit costs. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Interest cost $ 35 30 104 90 Amortization of prior service cost 25 26 77 78 Amortization of net loss 10 — 31 — Net periodic benefit cost $ 70 56 212 168

Segment and Other Operating I24

Segment and Other Operating Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Summary of Segment Information, by Quarter	A summary of segment information as of September 30, 2017 and December 31, 2016 for the Condensed Consolidated Balance Sheet items and for the three and nine months ended September 30, 2017 and September 30, 2016 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: September 30, 2017 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 95,894 254,150 598,234 — 948,278 Total segment assets 1,071,664 1,238,990 9,306,527 309,197 11,926,378 Future policy benefits 909,407 904,097 8,178,265 — 9,991,769 Other policyholder liabilities 14,441 14,635 107,996 — 137,072 December 31, 2016 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 90,485 243,106 648,714 — 982,305 Total segment assets 971,990 1,232,648 9,193,980 298,481 11,697,099 Future policy benefits 830,460 919,380 8,109,255 — 9,859,095 Other policyholder liabilities 13,998 10,528 118,865 — 143,391 Condensed Consolidated Statement of Earnings: Three Months Ended September 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 9,907 30,353 5,293 — 45,553 Net investment income 17,385 15,711 114,123 4,472 151,691 Other revenues 11 26 26 4,609 4,672 Total revenues 27,303 46,090 119,442 9,081 201,916 Life and other policy benefits 3,483 8,437 9,095 — 21,015 Amortization of deferred policy acquisition costs 2,517 (21,585 ) 37,790 — 18,722 Universal life and annuity contract interest 14,119 9,112 84,568 — 107,799 Other operating expenses 4,086 5,661 8,714 4,135 22,596 Federal income taxes (benefit) 1,061 15,473 (7,007 ) 1,792 11,319 Total expenses 25,266 17,098 133,160 5,927 181,451 Segment earnings (loss) $ 2,037 28,992 (13,718 ) 3,154 20,465 Nine Months Ended September 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 27,822 91,563 16,583 — 135,968 Net investment income 51,998 48,581 346,031 19,435 466,045 Other revenues 30 73 90 13,521 13,714 Total revenues 79,850 140,217 362,704 32,956 615,727 Life and other policy benefits 13,850 19,399 25,377 — 58,626 Amortization of deferred acquisition costs 8,300 (7,874 ) 85,566 — 85,992 Universal life and annuity contract interest 41,576 36,871 221,415 — 299,862 Other operating expenses 13,975 18,846 28,588 12,622 74,031 Federal income taxes (benefit) 740 25,125 605 7,001 33,471 Total expenses 78,441 92,367 361,551 19,623 551,982 Segment earnings (loss) $ 1,409 47,850 1,153 13,333 63,745 Three Months Ended September 30, 2016 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 8,507 31,066 5,391 — 44,964 Net investment income 12,294 12,763 97,384 4,540 126,981 Other revenues 7 10 139 4,320 4,476 Total revenues 20,808 43,839 102,914 8,860 176,421 Life and other policy benefits 5,338 5,038 7,054 — 17,430 Amortization of deferred acquisition costs (4,331 ) 7,296 21,430 — 24,395 Universal life and annuity contract interest 9,795 11,287 46,694 — 67,776 Other operating expenses 4,847 6,691 7,526 4,531 23,595 Federal income taxes (benefit) 1,667 3,591 6,549 1,209 13,016 Total expenses 17,316 33,903 89,253 5,740 146,212 Segment earnings (loss) $ 3,492 9,936 13,661 3,120 30,209 Nine Months Ended September 30, 2016 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 24,814 95,291 17,407 — 137,512 Net investment income 28,011 30,203 261,579 15,939 335,732 Other revenues 37 50 145 13,818 14,050 Total revenues 52,862 125,544 279,131 29,757 487,294 Life and other policy benefits 13,629 14,789 20,153 — 48,571 Amortization of deferred acquisition costs 989 11,720 75,872 — 88,581 Universal life and annuity contract interest 20,855 19,643 139,094 — 179,592 Other operating expenses 11,745 17,867 23,044 13,650 66,306 Federal income taxes (benefit) 1,833 19,977 6,808 5,229 33,847 Total expenses 49,051 83,996 264,971 18,879 416,897 Segment earnings (loss) $ 3,811 41,548 14,160 10,878 70,397
Reconciliation of Segment Premiums and Other Revenues to Condensed Consolidated Financial Statements	Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 45,553 44,964 135,968 137,512 Net investment income 151,691 126,981 466,045 335,732 Other revenues 4,672 4,476 13,714 14,050 Realized gains (losses) on investments 2,074 5,426 10,906 10,589 Total condensed consolidated premiums and other revenues $ 203,990 181,847 626,633 497,883
Reconciliation of Segment Federal Income Taxes to Condensed Consolidated Financial Statements	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 11,319 13,016 33,471 33,847 Taxes on realized gains (losses) on investments 726 1,899 3,817 3,706 Total condensed consolidated Federal income taxes $ 12,045 14,915 37,288 37,553
Reconciliation of Segment Net Earnings to Condensed Consolidated Financial Statements	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Net Earnings : Total segment earnings $ 20,465 30,209 63,745 70,397 Realized gains (losses) on investments, net of taxes 1,348 3,527 7,089 6,883 Total condensed consolidated net earnings $ 21,813 33,736 70,834 77,280
Reconciliation of Segment Assets to Condensed Consolidated Financial Statements	September 30, December 31, 2017 2016 (In thousands) Assets : Total segment assets $ 11,926,378 11,697,099 Other unallocated assets 211,913 197,882 Total condensed consolidated assets $ 12,138,291 11,894,981

Share-Based Payments (Tables)

Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Shares Available for Grant and Stock Option Activity	The following table shows all grants issued to officers and directors for the three and nine months ended September 30, 2017 and 2016 . These grants were made based upon closing market price per Class A common share at the grant date. Three Months Ended September 30, 2017 September 30, 2016 Officer Director Officer Director SARs — — — — RSUs — — — — PSUs — — — — Nine Months Ended September 30, 2017 September 30, 2016 Officer Director Officer Director SARs 11,715 — 14,643 — RSUs 2,725 1,660 3,661 2,563 PSUs 4,526 — 5,727 — A summary of shares available for grant and related activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2017 291,000 19,268 $ 240.47 Exercised — (250 ) $ 255.13 Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at September 30, 2017 291,000 19,018 $ 240.28
Summary of Information About Stock Options and SARs Outstanding	The following table summarizes information about stock options and SARs outstanding at September 30, 2017 . Options/SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: 255.13 (options) 13,018 0.5 years 13,018 208.05 (options) 6,000 0.6 years 6,000 114.64 (SARs) 11,900 1.3 years 11,900 132.56 (SARs) 21,968 4.0 years 13,962 210.22 (SARs) 28,050 6.1 years 6,850 216.48 (SARs) 12,998 8.4 years 3,962 311.16 (SARs) 11,512 9.4 years — 310.55 (SARs) 203 9.6 years — Totals 105,649 55,692 Aggregate intrinsic value (in thousands) $ 15,670 $ 9,354
Summary of Assumptions Employed Using Black-Scholes Option Pricing Model	In estimating the fair value of the share-based awards outstanding at September 30, 2017 and December 31, 2016 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. September 30, December 31, Expected term of options 0.5 to 9.6 years 1.3 to 9.1 years Expected volatility weighted-average 23.52 % 23.83 % Expected dividend yield 0.10 % 0.12 % Risk-free rate weighted-average 1.60 % 1.03 %
Schedule of activity	Liability Awards SAR RSU PSU Balance at January 1, 2017 77,178 6,029 5,426 Exercised (1,862 ) (2,563 ) — Forfeited (400 ) (238 ) — Granted 11,715 4,385 4,526 Balance at September 30, 2017 86,631 7,613 9,952

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Realized Investment Gains (Losses), Excluding Impairment Losses	The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Available for sale debt securities: Realized gains on disposal $ 1,529 1,773 4,137 2,455 Realized losses on disposal — (23 ) — (29 ) Held to maturity debt securities: Realized gains on disposal 555 3,278 4,059 4,764 Realized losses on disposal — (3 ) (34 ) (109 ) Equity securities realized gains (losses) (10 ) 401 87 607 Real estate gains (losses) — — 2,657 2,901 Totals $ 2,074 5,426 10,906 10,589
Net Impairment Losses Recognized in Earnings	The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 26 27 69 80 Portion of loss (gain) recognized in comprehensive income (26 ) (27 ) (69 ) (80 ) Net impairment losses on debt securities recognized in earnings — — — — Equity securities impairments — — — — Totals $ — — — —
Credit Losses on Securities, Also Recorded as Non-Credit Other-than-Temporary Impairments in Other Comprehensive Loss	The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss. Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 1,440 1,440 2,278 Reductions for securities sold during current period — — (838 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — — Ending balance, cumulative credit losses related to other-than-temporary impairments $ 1,440 1,440 1,440
Schedule of Held-to-Maturity Securities	The table below presents amortized costs and fair values of securities held to maturity at September 30, 2017 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,336 205 — 1,541 States and political subdivisions 455,435 21,927 (723 ) 476,639 Public utilities 1,109,167 37,863 (489 ) 1,146,541 Corporate 4,397,029 146,802 (7,402 ) 4,536,429 Residential mortgage-backed 1,293,507 38,274 (3,922 ) 1,327,859 Home equity 7,377 1,305 — 8,682 Manufactured housing 1,144 87 — 1,231 Totals $ 7,264,995 246,463 (12,536 ) 7,498,922 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2016 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,333 235 — 1,568 States and political subdivisions 456,069 22,697 (2,841 ) 475,925 Public utilities 1,087,176 36,904 (3,133 ) 1,120,947 Corporate 4,237,029 116,720 (29,701 ) 4,324,048 Residential mortgage-backed 1,367,270 42,345 (6,468 ) 1,403,147 Home equity 8,826 1,462 — 10,288 Manufactured housing 1,556 132 — 1,688 Totals $ 7,159,259 220,495 (42,143 ) 7,337,611
Schedule of Available-for-Sale Securities	The table below presents amortized costs and fair values of securities available for sale at September 30, 2017 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 577 9 — 586 Foreign governments 9,962 451 — 10,413 Public utilities 103,908 4,864 — 108,772 Corporate 2,783,263 98,637 (8,125 ) 2,873,775 Residential mortgage-backed 21,790 1,693 (69 ) 23,414 Home equity 8,287 380 — 8,667 Manufactured housing — — — — 2,927,787 106,034 (8,194 ) 3,025,627 Equity securities 14,807 5,371 (202 ) 19,976 Totals $ 2,942,594 111,405 (8,396 ) 3,045,603 The table below presents amortized costs and fair values of securities available for sale at December 31, 2016 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 580 — (6 ) 574 Foreign governments 9,956 380 — 10,336 Public utilities 127,181 4,745 (232 ) 131,694 Corporate 2,802,852 80,414 (22,603 ) 2,860,663 Residential mortgage-backed 27,110 2,137 (91 ) 29,156 Home equity 9,341 286 — 9,627 Manufactured housing — — — — 2,977,020 87,962 (22,932 ) 3,042,050 Equity securities 14,022 4,657 (366 ) 18,313 Totals $ 2,991,042 92,619 (23,298 ) 3,060,363
Schedule of Gross Unrealized Losses and Fair Values of Held-to-Maturity Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2016 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 80,507 (2,841 ) — — 80,507 (2,841 ) Public utilities 162,587 (3,133 ) — — 162,587 (3,133 ) Corporate 1,063,194 (22,867 ) 179,113 (6,834 ) 1,242,307 (29,701 ) Residential mortgage-backed 274,045 (5,989 ) 8,943 (479 ) 282,988 (6,468 ) Total temporarily impaired securities $ 1,580,333 (34,830 ) 188,056 (7,313 ) 1,768,389 (42,143 ) The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2017 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 39,659 (723 ) — — 39,659 (723 ) Public utilities 41,567 (489 ) — — 41,567 (489 ) Corporate 456,605 (5,863 ) 104,355 (1,539 ) 560,960 (7,402 ) Residential mortgage-backed 220,414 (3,556 ) 9,036 (366 ) 229,450 (3,922 ) Total temporarily impaired securities $ 758,245 (10,631 ) 113,391 (1,905 ) 871,636 (12,536 )
Schedule of Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2016 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 574 (6 ) — — 574 (6 ) Public utilities 10,765 (232 ) — — 10,765 (232 ) Corporate 680,988 (16,427 ) 106,969 (6,176 ) 787,957 (22,603 ) Residential mortgage-backed 1,292 (91 ) — — 1,292 (91 ) 693,619 (16,756 ) 106,969 (6,176 ) 800,588 (22,932 ) Equity securities 4,154 (305 ) 422 (61 ) 4,576 (366 ) Total temporarily impaired securities $ 697,773 (17,061 ) 107,391 (6,237 ) 805,164 (23,298 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2017 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — — — — — Public utilities — — — — — — Corporate 350,939 (6,120 ) 57,034 (2,005 ) 407,973 (8,125 ) Residential mortgage-backed 1,371 (14 ) 1,115 (55 ) 2,486 (69 ) 352,310 (6,134 ) 58,149 (2,060 ) 410,459 (8,194 ) Equity securities 940 (128 ) 375 (74 ) 1,315 (202 ) Total temporarily impaired securities $ 353,250 (6,262 ) 58,524 (2,134 ) 411,774 (8,396 )
Schedule of Mortgage Loans by Loan-to-Value Ratio	The following table represents the mortgage loan portfolio by loan-to-value ratio. September 30, 2017 December 31, 2016 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 80,202 42.4 $ 54,783 31.3 50% to 60% 27,630 14.6 12,946 7.4 60% to 70% 64,253 33.9 76,959 43.9 70% to 80% 4,657 2.5 6,192 3.5 80% to 90% 6,999 3.7 18,688 10.7 Greater than 90% 5,532 2.9 5,616 3.2 Gross balance 189,273 100.0 175,184 100.0 Allowance for possible losses (650 ) (0.3 ) (650 ) (0.4 ) Totals $ 188,623 99.7 $ 174,534 99.6 (1) Loan-to-Value Ratio is determined using the most recent appraised value. Appraisals are required at the time of funding and may be updated if a material change occurs from the original loan agreement.
Schedule of Allowance for Mortgage Loans	The following table represents the mortgage loan allowance. September 30, 2017 December 31, 2016 (In thousands) Balance, beginning of period $ 650 650 Provision — — Releases — — Balance, end of period $ 650 650
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of investments in debt securities at September 30, 2017 , by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Debt Securities Available for Sale Debt Securities Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due in 1 year or less $ 107,418 109,701 327,702 334,140 Due after 1 year through 5 years 1,134,227 1,193,059 2,165,828 2,270,603 Due after 5 years through 10 years 1,604,862 1,638,814 3,103,155 3,174,126 Due after 10 years 51,203 51,972 366,282 382,281 2,897,710 2,993,546 5,962,967 6,161,150 Mortgage and asset-backed securities 30,077 32,081 1,302,028 1,337,772 Total $ 2,927,787 3,025,627 7,264,995 7,498,922

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables set forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,025,627 — 3,025,627 — Equity securities, available for sale 19,976 19,976 — — Derivatives, index options 163,536 — — 163,536 Total assets $ 3,209,139 19,976 3,025,627 163,536 Policyholder account balances (a) $ 175,221 — — 175,221 Other liabilities (b) 16,641 — — 16,641 Total liabilities $ 191,862 — — 191,862 During the three and nine months ended September 30, 2017 , the Company had no transfers into or out of Levels 1, 2 or 3. December 31, 2016 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,042,050 — 3,042,050 — Equity securities, available for sale 18,313 18,313 — — Derivatives, index options 120,644 — — 120,644 Total assets $ 3,181,007 18,313 3,042,050 120,644 Policyholder account balances (a) $ 122,666 — — 122,666 Other liabilities (b) 12,027 — — 12,027 Total liabilities $ 134,693 — — 134,693 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation.
Schedule of Assets by Pricing Source and Fair Value Hierarchy Measured on Recurring Basis	The following tables present, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,025,627 — 3,025,627 — Priced internally — — — — Subtotal 3,025,627 — 3,025,627 — Equity securities, available for sale: Priced by third-party vendors 19,976 19,976 — — Priced internally — — — — Subtotal 19,976 19,976 — — Derivatives, index options: Priced by third-party vendors 163,536 — — 163,536 Priced internally — — — — Subtotal 163,536 — — 163,536 Total $ 3,209,139 19,976 3,025,627 163,536 Percent of total 100.0 % 0.6 % 94.3 % 5.1 % December 31, 2016 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,042,050 — 3,042,050 — Priced internally — — — — Subtotal 3,042,050 — 3,042,050 — Equity securities, available for sale: Priced by third-party vendors 18,313 18,313 — — Priced internally — — — — Subtotal 18,313 18,313 — — Derivatives, index options: Priced by third-party vendors 120,644 — — 120,644 Priced internally — — — — Subtotal 120,644 — — 120,644 Total $ 3,181,007 18,313 3,042,050 120,644 Percent of total 100.0 % 0.6 % 95.6 % 3.8 %
Schedule of Significant Unobservable Inputs for Fair Value Measurements	The following tables provide additional information about fair value measurements for which significant unobservable (Level 3) inputs were utilized to determine fair value. For the Three Months Ended September 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2017 $ — — 149,341 149,341 173,356 Total realized and unrealized gains (losses): Included in net income — — 45,130 45,130 48,927 Purchases, sales, issuances and settlements, net: Purchases — — 19,847 19,847 19,847 Sales — — — — — Issuances — — — — 531 Settlements — — (50,782 ) (50,782 ) (50,799 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 163,536 163,536 191,862 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 16,436 16,436 — Benefits and expenses — — — — 17,195 Total $ — — 16,436 16,436 17,195 For the Three Months ended September 30, 2016 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2016 $ — — 63,319 63,319 81,056 Total realized and unrealized gains (losses): Included in net income — — 19,113 19,113 13,492 Purchases, sales, issuances and settlements, net: Purchases — — 18,848 18,848 18,848 Sales — — — — — Issuances — — — — 388 Settlements — — (11,183 ) (11,183 ) (11,255 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 90,097 90,097 102,529 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 23,851 23,851 — Benefits and expenses — — — — 25,150 Total $ — — 23,851 23,851 25,150 Nine Months Ended September 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2017 $ — — 120,644 120,644 134,693 Total realized and unrealized gains (losses): Included in net income — — 138,552 138,552 152,569 Purchases, sales, issuances and settlements, net: Purchases — — 55,226 55,226 55,226 Sales — — — — Issuances — — — — 1,275 Settlements — — (150,886 ) (150,886 ) (151,901 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 163,536 163,536 191,862 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 83,540 83,540 — Other operating expenses — — — — 87,894 Total $ — — 83,540 83,540 87,894 Nine Months Ended September 30, 2016 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2016 $ — — 38,409 38,409 66,028 Total realized and unrealized gains (losses): Included in net income — — 8,307 8,307 (7,691 ) Purchases, sales, issuances and settlements, net: Purchases — — 56,387 56,387 56,387 Sales — — — — — Issuances — — — — 921 Settlements — — (13,006 ) (13,006 ) (13,116 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 90,097 90,097 102,529 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 15,628 15,628 — Other operating expenses — — — — 13,582 Total $ — — 15,628 15,628 13,582
Schedule of quantitative information of Level 3 liabilities	The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: September 30, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 163,536 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 163,536 Policyholder account balances $ 175,221 Deterministic cash flow model Projected option cost Other liabilities 16,641 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 191,862 December 31, 2016 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 120,644 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 120,644 Policyholder account balances $ 122,666 Deterministic cash flow model Projected option cost Other liabilities 12,027 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 134,693
Schedule of quantitative information of Level 3 assets	The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: September 30, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 163,536 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 163,536 Policyholder account balances $ 175,221 Deterministic cash flow model Projected option cost Other liabilities 16,641 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 191,862 December 31, 2016 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 120,644 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 120,644 Policyholder account balances $ 122,666 Deterministic cash flow model Projected option cost Other liabilities 12,027 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 134,693
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of the Company's financial instruments are as follows: September 30, 2017 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,264,995 7,498,922 — 7,498,922 — Securities available for sale 3,045,603 3,045,603 19,976 3,025,627 — Cash and cash equivalents 170,560 170,560 170,560 — — Mortgage loans 188,623 189,739 — — 189,739 Policy loans 57,466 102,536 — — 102,536 Other loans 9,786 10,091 — — 10,091 Derivatives, index options 163,536 163,536 — — 163,536 Short-term investments — — — — — Life interest in Trust 7,550 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,806,058 7,418,285 — — 7,418,285 Immediate annuity and supplemental contracts 439,440 469,348 — — 469,348 December 31, 2016 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,159,259 7,337,611 — 7,337,611 — Securities available for sale 3,060,363 3,060,363 18,313 3,042,050 — Cash and cash equivalents 51,247 51,247 51,247 — — Mortgage loans 174,534 176,890 — — 176,890 Policy loans 58,699 101,092 — — 101,092 Other loans 14,343 14,898 — — 14,898 Derivatives, index options 120,644 120,644 — — 120,644 Life interest in Trust 7,550 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,739,337 7,367,851 — — 7,367,851 Immediate annuity and supplemental contracts 443,226 470,414 — — 470,414

Derivative Investments (Tables)

Derivative Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The tables below present the fair value of derivative instruments as of September 30, 2017 and December 31, 2016 , respectively. September 30, 2017 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 163,536 Fixed-index products Universal Life and Annuity Contracts $ 175,221 Total $ 163,536 $ 175,221 December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 120,644 Fixed-index products Universal Life and Annuity Contracts $ 122,666 Total $ 120,644 $ 122,666
Schedule of Derivative Instruments in Condensed Consolidated Statements of Earnings	The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended September 30, 2017 and 2016 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 45,131 19,114 Fixed-index products Universal life and annuity contract interest (48,168 ) (12,194 ) $ (3,037 ) 6,920 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2017 and 2016 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 138,552 8,307 Fixed-index products Universal life and annuity contract interest (148,214 ) 5,645 $ (9,662 ) 13,952

Consolidation and Basis of Pr29

Consolidation and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other net investment gains (losses)	$ 2,074	$ 5,426	$ 10,906	$ 10,589
Earnings before Federal income taxes	33,858	48,651	108,122	114,833
Federal income taxes	12,045	14,915	37,288	37,553
Net earnings	21,813	33,736	70,834	77,280
Unrealized Gains and Losses on Available-for-sale Securities | Amount Reclassified From Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other net investment gains (losses)	1,519	2,151	4,224	3,033
Net OTTI losses recognized in earnings	0	0	0	0
Earnings before Federal income taxes	1,519	2,151	4,224	3,033
Federal income taxes	532	753	1,478	1,062
Net earnings	$ 987	$ 1,398	$ 2,746	$ 1,971

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Maximum dividend payment which may be paid without prior approval from Colorado Division of Insurance	$ 86,000,000
Dividends	4,000,000
Dividends payable	$ 3,000,000	$ 3,000,000

Earnings Per Share (EPS Calcula

Earnings Per Share (EPS Calculation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 21,813	$ 33,736	$ 70,834	$ 77,280
Dividends	(4,000)
Undistributed income	21,813	33,736	70,834	77,280
Allocation of net income:
Dividends	4,000
Allocation of undistributed income	21,813	33,736	70,834	77,280
Net earnings	21,813	33,736	70,834	77,280
Class A
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	21,196	32,782	68,831	75,095
Dividends	0	0	0	0
Undistributed income	21,196	32,782	68,831	75,095
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	21,196	32,782	68,831	75,095
Net earnings	$ 21,196	$ 32,782	$ 68,831	$ 75,095
Denominator:
Basic earnings per share - weighted-average shares (in shares)	3,436	3,436	3,436	3,436
Effect of dilutive stock options (in shares)	0	0	0	0
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)	3,436	3,436	3,436	3,436
Basic Earnings Per Share (in dollars per share)	$ 6.17	$ 9.54	$ 20.03	$ 21.85
Diluted Earnings Per Share (in dollars per share)	$ 6.17	$ 9.54	$ 20.03	$ 21.85
Class B
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 617	$ 954	$ 2,003	$ 2,185
Dividends	0	0	0	0
Undistributed income	617	954	2,003	2,185
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	617	954	2,003	2,185
Net earnings	$ 617	$ 954	$ 2,003	$ 2,185
Denominator:
Basic earnings per share - weighted-average shares (in shares)	200	200	200	200
Effect of dilutive stock options (in shares)	0	0	0	0
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)	200	200	200	200
Basic Earnings Per Share (in dollars per share)	$ 3.08	$ 4.77	$ 10.02	$ 10.93
Diluted Earnings Per Share (in dollars per share)	$ 3.08	$ 4.77	$ 10.02	$ 10.93

Pension and Other Postretirem32

Pension and Other Postretirement Plans (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)benefit_plan	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)benefit_plan	Sep. 30, 2016USD ($)	Dec. 31, 2007
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of healthcare plans | benefit_plan	2		2
Defined Benefit Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Vesting percentage in accrued benefits from plan freeze					100.00%
Service cost	$ 27,000	$ 26,000	$ 81,000	$ 79,000
Interest cost	240,000	250,000	718,000	750,000
Expected return on plan assets	(306,000)	(304,000)	(920,000)	(912,000)
Amortization of prior service cost	0	0	0	0
Amortization of net loss	159,000	193,000	477,000	579,000
Net periodic benefit cost	120,000	165,000	356,000	496,000
Minimum required contribution	200,000		200,000
Company contributions to plan			0
Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	204,000	109,000	612,000	327,000
Interest cost	347,000	265,000	1,041,000	794,000
Amortization of prior service cost	15,000	15,000	45,000	45,000
Amortization of net loss	818,000	501,000	2,455,000	1,503,000
Net periodic benefit cost	1,384,000	890,000	4,153,000	2,669,000
Company contributions to plan			1,600,000
Company expected contributions to plans in fiscal year	2,000,000		2,000,000
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	35,000	30,000	104,000	90,000
Amortization of prior service cost	25,000	26,000	77,000	78,000
Amortization of net loss	10,000	0	31,000	0
Net periodic benefit cost	$ 70,000	$ 56,000	$ 212,000	$ 168,000
Minimum | Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Aggregate average annual participant salary increase (as a percentage)			10.00%

Segment and Other Operating I33

Segment and Other Operating Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 12,138,291		$ 12,138,291		$ 11,894,981
Other policyholder liabilities	137,072		137,072		143,391
Condensed Consolidated Income Statements:
Premiums and contract revenues	45,553	$ 44,964	135,968	$ 137,512
Net investment income	151,691	126,981	466,045	335,732
Other revenues	4,672	4,476	13,714	14,050
Realized gains (losses) on investments	2,074	5,426	10,906	10,589
Total revenues	203,990	181,847	626,633	497,883
Life and other policy benefits	21,015	17,430	58,626	48,571
Amortization of deferred acquisition costs	18,722	24,395	85,992	88,581
Universal life and annuity contract interest	107,799	67,776	299,862	179,592
Other operating expenses	22,596	23,595	74,031	66,306
Federal income taxes (benefit)	11,319	13,016	33,471	33,847
Taxes on realized gains (losses) on investments	726	1,899	3,817	3,706
Total condensed consolidated Federal income taxes	12,045	14,915	37,288	37,553
Total expenses				416,897
Segment earnings (loss)	20,465	30,209	63,745	70,397
Realized gains (losses) on investments, net of taxes	1,348	3,527	7,089	6,883
Net earnings	21,813	33,736	70,834	77,280
Domestic Life Insurance
Condensed Consolidated Income Statements:
Total expenses				49,051
Segment earnings (loss)				3,811
International Life Insurance
Condensed Consolidated Income Statements:
Total expenses				83,996
Segment earnings (loss)				41,548
Annuities
Condensed Consolidated Income Statements:
Total expenses				264,971
Segment earnings (loss)				14,160
All Others
Condensed Consolidated Income Statements:
Total expenses				18,879
Segment earnings (loss)				10,878
Segments
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	948,278		948,278		982,305
Total segment assets	11,926,378		11,926,378		11,697,099
Future policy benefits	9,991,769		9,991,769		9,859,095
Other policyholder liabilities	137,072		137,072		143,391
Condensed Consolidated Income Statements:
Premiums and contract revenues	45,553	44,964	135,968	137,512
Net investment income	151,691	126,981	466,045	335,732
Other revenues	4,672	4,476	13,714	14,050
Total revenues	201,916	176,421	615,727	487,294
Life and other policy benefits	21,015	17,430	58,626	48,571
Amortization of deferred acquisition costs	18,722	24,395	85,992	88,581
Universal life and annuity contract interest	107,799	67,776	299,862	179,592
Other operating expenses	22,596	23,595	74,031	66,306
Federal income taxes (benefit)	11,319	13,016	33,471	33,847
Total expenses	181,451	146,212	551,982
Segment earnings (loss)	20,465	30,209	63,745
Segments | Domestic Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	95,894		95,894		90,485
Total segment assets	1,071,664		1,071,664		971,990
Future policy benefits	909,407		909,407		830,460
Other policyholder liabilities	14,441		14,441		13,998
Condensed Consolidated Income Statements:
Premiums and contract revenues	9,907	8,507	27,822	24,814
Net investment income	17,385	12,294	51,998	28,011
Other revenues	11	7	30	37
Total revenues	27,303	20,808	79,850	52,862
Life and other policy benefits	3,483	5,338	13,850	13,629
Amortization of deferred acquisition costs	2,517	(4,331)	8,300	989
Universal life and annuity contract interest	14,119	9,795	41,576	20,855
Other operating expenses	4,086	4,847	13,975	11,745
Federal income taxes (benefit)	1,061	1,667	740	1,833
Total expenses	25,266	17,316	78,441
Segment earnings (loss)	2,037	3,492	1,409
Segments | International Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	254,150		254,150		243,106
Total segment assets	1,238,990		1,238,990		1,232,648
Future policy benefits	904,097		904,097		919,380
Other policyholder liabilities	14,635		14,635		10,528
Condensed Consolidated Income Statements:
Premiums and contract revenues	30,353	31,066	91,563	95,291
Net investment income	15,711	12,763	48,581	30,203
Other revenues	26	10	73	50
Total revenues	46,090	43,839	140,217	125,544
Life and other policy benefits	8,437	5,038	19,399	14,789
Amortization of deferred acquisition costs	(21,585)	7,296	(7,874)	11,720
Universal life and annuity contract interest	9,112	11,287	36,871	19,643
Other operating expenses	5,661	6,691	18,846	17,867
Federal income taxes (benefit)	15,473	3,591	25,125	19,977
Total expenses	17,098	33,903	92,367
Segment earnings (loss)	28,992	9,936	47,850
Segments | Annuities
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	598,234		598,234		648,714
Total segment assets	9,306,527		9,306,527		9,193,980
Future policy benefits	8,178,265		8,178,265		8,109,255
Other policyholder liabilities	107,996		107,996		118,865
Condensed Consolidated Income Statements:
Premiums and contract revenues	5,293	5,391	16,583	17,407
Net investment income	114,123	97,384	346,031	261,579
Other revenues	26	139	90	145
Total revenues	119,442	102,914	362,704	279,131
Life and other policy benefits	9,095	7,054	25,377	20,153
Amortization of deferred acquisition costs	37,790	21,430	85,566	75,872
Universal life and annuity contract interest	84,568	46,694	221,415	139,094
Other operating expenses	8,714	7,526	28,588	23,044
Federal income taxes (benefit)	(7,007)	6,549	605	6,808
Total expenses	133,160	89,253	361,551
Segment earnings (loss)	(13,718)	13,661	1,153
Segments | All Others
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	0		0		0
Total segment assets	309,197		309,197		298,481
Future policy benefits	0		0		0
Other policyholder liabilities	0		0		0
Condensed Consolidated Income Statements:
Premiums and contract revenues	0	0	0	0
Net investment income	4,472	4,540	19,435	15,939
Other revenues	4,609	4,320	13,521	13,818
Total revenues	9,081	8,860	32,956	29,757
Life and other policy benefits	0	0	0	0
Amortization of deferred acquisition costs	0	0	0	0
Universal life and annuity contract interest	0	0	0	0
Other operating expenses	4,135	4,531	12,622	13,650
Federal income taxes (benefit)	1,792	1,209	7,001	$ 5,229
Total expenses	5,927	5,740	19,623
Segment earnings (loss)	3,154	$ 3,120	13,333
Other unallocated
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 211,913		$ 211,913		$ 197,882

Share-Based Payments (General D

Share-Based Payments (General Descriptions) (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 17, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 20, 2008	Jun. 25, 2004
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expected Term				10 years
Period in force, from which option holders may elect to sell back acquired shares				90 days
Closing stock price (in usd per share)		$ 349		$ 349
Compensation cost not yet recognized		$ 16.6	$ 6.4	$ 16.6	$ 6.4
Contractual life (in years)				1 year
Pre-tax compensation cost (benefit) recognized		1.3	1.7	$ 5.6	(1.1)
Compensation cost (benefit), tax expense (benefit)		(0.5)	$ (0.6)	2	$ 0.4
Compensation cost related to nonvested options not yet recognized		$ 5.9		$ 5.9
Weighted average period over which the compensation is expected to be recognized (in years)				1 year 3 months 18 days
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (usd per share)		$ 0.01		$ 0.01		$ 0.01
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Requisite service period of awards (in years)				1 year	1 year
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				3 years
1995 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (usd per share)								$ 1
Share-based payments, number of shares authorized under plans (in shares)								300,000
2008 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments, number of shares authorized under plans (in shares)							300,000
SAR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)
SAR | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	11,715	14,643
SAR | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	0	0
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)
PSU | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	4,526	5,727
PSU | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	0	0
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)
Vesting period (in years)	3 years
Performance period (in years)	3 years
RSU | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	2,725	3,661
RSU | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	1,660	2,563

Share-Based Payments (Options a

Share-Based Payments (Options and Stock Appreciation Rights Outstanding) (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Shares Available For Grant
Shares Available For Grant, Beginning Balance (in shares)	291,000
Shares Available For Grant, Exercised (in shares)	0
Shares Available For Grant, Forfeited (in shares)	0
Shares Available For Grant, Expired (in shares)	0
Shares Available For Grant, Granted (in shares)	0
Shares Available For Grant, Ending Balance (in shares)	291,000
Shares/Awards
Opening Balance (in shares)	19,268
Exercised (in shares)	(250)
Forfeited (in shares)	0
Expired (in shares)	0
Granted (in shares)	0
Ending Balance (in shares)	19,018
Weighted-Average Exercise Price (usd per share)
Beginning Balance (in usd per share)	$ 240.47
Exercised (in usd per share)	255.13
Forfeited (in usd per share)	0
Expired (in usd per share)	0
Granted (in usd per share)	0
Ending Balance (in usd per share)	$ 240.28
Liability Awards
Cash received from exercise of options	$ 0.6	$ 0.3
Total fair value of shares vested	$ 0	0
SAR
Liability Awards
Opening balance (in shares)	77,178
Exercised (in shares)	(1,862)
Forfeited (in shares)	(400)
Granted (in shares)	11,715
Closing balance (in shares)	86,631
Total intrinsic value of options exercised	$ 1	0.1
Total share-based liabilities paid	$ 1	$ 0.1
RSU
Liability Awards
Opening balance (in shares)	6,029
Exercised (in shares)	(2,563)
Forfeited (in shares)	(238)
Granted (in shares)	4,385
Closing balance (in shares)	7,613
PSU
Liability Awards
Opening balance (in shares)	5,426
Exercised (in shares)	0
Forfeited (in shares)	0
Granted (in shares)	4,526
Closing balance (in shares)	9,952

Share-Based Payments (Exercise

Share-Based Payments (Exercise Range) (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding (in shares)	105,649
Number Outstanding, Aggregate intrinsic value | $	$ 15,670
Number Exercisable (in shares)	55,692
Options Exercisable, Aggregate intrinsic value | $	$ 9,354
Closing stock price (in usd per share) | $ / shares	$ 349
Exercise Price $255.13
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	255.13
Exercise Price $208.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 208.05
Employee Stock Option | Exercise Price $255.13
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding (in shares)	13,018
Weighted- Average Remaining Contractual Life (in years)	6 months
Number Exercisable (in shares)	13,018
Employee Stock Option | Exercise Price $208.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding (in shares)	6,000
Weighted- Average Remaining Contractual Life (in years)	7 months 6 days
Number Exercisable (in shares)	6,000
SAR | Exercise Price $114.64
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 114.64
Number Outstanding (in shares)	11,900
Weighted- Average Remaining Contractual Life (in years)	1 year 3 months 18 days
Number Exercisable (in shares)	11,900
SAR | Exercise Price $132.56
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 132.56
Number Outstanding (in shares)	21,968
Weighted- Average Remaining Contractual Life (in years)	4 years
Number Exercisable (in shares)	13,962
SAR | Exercise Price $210.22
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 210.22
Number Outstanding (in shares)	28,050
Weighted- Average Remaining Contractual Life (in years)	6 years 1 month 6 days
Number Exercisable (in shares)	6,850
SAR | Exercise Price $216.48
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 216.48
Number Outstanding (in shares)	12,998
Weighted- Average Remaining Contractual Life (in years)	8 years 4 months 24 days
Number Exercisable (in shares)	3,962
SAR | Exercise Price $311.16
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 311.16
Number Outstanding (in shares)	11,512
Weighted- Average Remaining Contractual Life (in years)	9 years 4 months 24 days
Number Exercisable (in shares)	0
SAR | Exercise Price $310.55
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 310.55
Number Outstanding (in shares)	203
Weighted- Average Remaining Contractual Life (in years)	9 years 7 months 6 days
Number Exercisable (in shares)	0

Share-Based Payments (Black Sch

Share-Based Payments (Black Scholes Option Pricing Model Assumptions) (Details)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield (in percentage)	0.10%	0.12%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of awards (in years)	6 months	1 year 3 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of awards (in years)		9 years 1 month 6 days
Weighted-average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, weighted-average (in percentage)	23.52%	23.83%
Risk-free rate, weighted-average (in percentage)	1.60%	1.03%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands, BRL in Millions	Oct. 26, 2011USD ($)	Sep. 30, 2017USD ($)Annuity_Policy	Sep. 30, 2017BRL
Loss Contingencies [Line Items]
Number of annuity policies | Annuity_Policy		2
Brazilian Superintendence of Private Insurance
Loss Contingencies [Line Items]
Fine SUSEP is attempting to impose on the company	$ 6,000,000	$ 960	BRL 3
Existing Loans
Loss Contingencies [Line Items]
Other commitment		1,400
New Loans
Loss Contingencies [Line Items]
Other commitment		14,900
Pending Litigation | Damaris Maldonado Vinas Et Al
Loss Contingencies [Line Items]
Loss contingency accrual		$ (2,900)

Investments (Investment Gains a

Investments (Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Held to maturity debt securities:
Real estate gains (losses)	$ 0	$ 0	$ 2,657	$ 2,901
Totals	$ 2,074	$ 5,426	$ 10,906	$ 10,589
Investments, percentage of gains on bonds, due to calls of securities (in percentage)	100.00%	95.00%	88.00%	87.00%
Total other-than-temporary impairment gains (losses) on debt securities	$ 26	$ 27	$ 69	$ 80
Net OTTI losses recognized in earnings	0	0	0	0
Non-Credit Other-than-Temporary Impairment, Credit Losses Recognized in Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance, cumulative credit losses related to other-than-temporary impairments			1,440	2,278	$ 2,278
Reductions for securities sold during current period	0		0		(838)
Additions for credit losses not previously recognized in other-than-temporary impairments	0		0		0
Ending balance, cumulative credit losses related to other-than-temporary impairments	1,440	1,440	1,440	1,440	$ 1,440
Debt Securities
Available for sale debt securities:
Realized gains on disposal	1,529	1,773	4,137	2,455
Realized losses on disposal	0	(23)	0	(29)
Held to maturity debt securities:
Realized gains on disposal	555	3,278	4,059	4,764
Realized losses on disposal	0	(3)	(34)	(109)
Total other-than-temporary impairment gains (losses) on debt securities	26	27	69	80
Portion of loss (gain) recognized in comprehensive income	(26)	(27)	(69)	(80)
Net OTTI losses recognized in earnings	0	0	0	0
Equity securities
Held to maturity debt securities:
Equity securities realized gains (losses)	(10)	401	87	607
Net OTTI losses recognized in earnings	$ 0	$ 0	$ 0	$ 0

Investments (Securities Held to

Investments (Securities Held to Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Held-to-maturity Securities [Line Items]
Total	$ 7,264,995	$ 7,159,259
Gross Unrealized Gains	246,463	220,495
Gross Unrealized Losses	(12,536)	(42,143)
Fair Value	7,498,922	7,337,611
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	758,245	1,580,333
Less than 12 Months, Unrealized Losses	(10,631)	(34,830)
12 Months or Greater, Fair Value	113,391	188,056
12 Months or Greater, Unrealized Losses	(1,905)	(7,313)
Total, Fair Value	871,636	1,768,389
Total, Unrealized Losses	(12,536)	(42,143)
U.S. Treasury
Schedule of Held-to-maturity Securities [Line Items]
Total	1,336	1,333
Gross Unrealized Gains	205	235
Gross Unrealized Losses	0	0
Fair Value	1,541	1,568
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0	0
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Total	455,435	456,069
Gross Unrealized Gains	21,927	22,697
Gross Unrealized Losses	(723)	(2,841)
Fair Value	476,639	475,925
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	39,659	80,507
Less than 12 Months, Unrealized Losses	(723)	(2,841)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	39,659	80,507
Total, Unrealized Losses	(723)	(2,841)
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Total	1,109,167	1,087,176
Gross Unrealized Gains	37,863	36,904
Gross Unrealized Losses	(489)	(3,133)
Fair Value	1,146,541	1,120,947
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	41,567	162,587
Less than 12 Months, Unrealized Losses	(489)	(3,133)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	41,567	162,587
Total, Unrealized Losses	(489)	(3,133)
Corporate
Schedule of Held-to-maturity Securities [Line Items]
Total	4,397,029	4,237,029
Gross Unrealized Gains	146,802	116,720
Gross Unrealized Losses	(7,402)	(29,701)
Fair Value	4,536,429	4,324,048
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	456,605	1,063,194
Less than 12 Months, Unrealized Losses	(5,863)	(22,867)
12 Months or Greater, Fair Value	104,355	179,113
12 Months or Greater, Unrealized Losses	(1,539)	(6,834)
Total, Fair Value	560,960	1,242,307
Total, Unrealized Losses	(7,402)	(29,701)
Residential mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total	1,293,507	1,367,270
Gross Unrealized Gains	38,274	42,345
Gross Unrealized Losses	(3,922)	(6,468)
Fair Value	1,327,859	1,403,147
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	220,414	274,045
Less than 12 Months, Unrealized Losses	(3,556)	(5,989)
12 Months or Greater, Fair Value	9,036	8,943
12 Months or Greater, Unrealized Losses	(366)	(479)
Total, Fair Value	229,450	282,988
Total, Unrealized Losses	(3,922)	(6,468)
Home equity
Schedule of Held-to-maturity Securities [Line Items]
Total	7,377	8,826
Gross Unrealized Gains	1,305	1,462
Gross Unrealized Losses	0	0
Fair Value	8,682	10,288
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0	0
Manufactured housing
Schedule of Held-to-maturity Securities [Line Items]
Total	1,144	1,556
Gross Unrealized Gains	87	132
Gross Unrealized Losses	0	0
Fair Value	1,231	1,688
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	$ 0	$ 0

Investments (Securities Availab

Investments (Securities Available for Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Total	$ 2,927,787	$ 2,977,020
Gross Unrealized Gains, Debt securities	106,034	87,962
Gross Unrealized Losses, Debt securities	(8,194)	(22,932)
Fair Value, Debt securities	3,025,627	3,042,050
Amortized Cost, Equity securities	14,807	14,022
Gross Unrealized Gains, Equity securities	5,371	4,657
Gross Unrealized Losses, Equity securities	(202)	(366)
Fair Value, Equity securities	19,976	18,313
Amortized Cost	2,942,594	2,991,042
Gross Unrealized Gains	111,405	92,619
Gross Unrealized Losses	(8,396)	(23,298)
Fair Value	3,045,603	3,060,363
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	353,250	697,773
Less than 12 Months, Unrealized Losses	(6,262)	(17,061)
12 Months or Greater, Fair Value	58,524	107,391
12 Months or Greater, Unrealized Losses	(2,134)	(6,237)
Total, Fair Value	411,774	805,164
Total, Unrealized Losses	(8,396)	(23,298)
Due in 1 year or less	334,140
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	3,025,627	3,042,050
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	352,310	693,619
Less than 12 Months, Unrealized Losses	(6,134)	(16,756)
12 Months or Greater, Fair Value	58,149	106,969
12 Months or Greater, Unrealized Losses	(2,060)	(6,176)
Total, Fair Value	410,459	800,588
Total, Unrealized Losses	(8,194)	(22,932)
States and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total	577	580
Gross Unrealized Gains, Debt securities	9	0
Gross Unrealized Losses, Debt securities	0	(6)
Fair Value, Debt securities	586	574
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	0	574
Less than 12 Months, Unrealized Losses	0	(6)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	0	574
Total, Unrealized Losses	0	(6)
Foreign governments
Schedule of Available-for-sale Securities [Line Items]
Total	9,962	9,956
Gross Unrealized Gains, Debt securities	451	380
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	10,413	10,336
Public utilities
Schedule of Available-for-sale Securities [Line Items]
Total	103,908	127,181
Gross Unrealized Gains, Debt securities	4,864	4,745
Gross Unrealized Losses, Debt securities	0	(232)
Fair Value, Debt securities	108,772	131,694
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	0	10,765
Less than 12 Months, Unrealized Losses	0	(232)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	0	10,765
Total, Unrealized Losses	0	(232)
Corporate
Schedule of Available-for-sale Securities [Line Items]
Total	2,783,263	2,802,852
Gross Unrealized Gains, Debt securities	98,637	80,414
Gross Unrealized Losses, Debt securities	(8,125)	(22,603)
Fair Value, Debt securities	2,873,775	2,860,663
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	350,939	680,988
Less than 12 Months, Unrealized Losses	(6,120)	(16,427)
12 Months or Greater, Fair Value	57,034	106,969
12 Months or Greater, Unrealized Losses	(2,005)	(6,176)
Total, Fair Value	407,973	787,957
Total, Unrealized Losses	(8,125)	(22,603)
Residential mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Total	21,790	27,110
Gross Unrealized Gains, Debt securities	1,693	2,137
Gross Unrealized Losses, Debt securities	(69)	(91)
Fair Value, Debt securities	23,414	29,156
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	1,371	1,292
Less than 12 Months, Unrealized Losses	(14)	(91)
12 Months or Greater, Fair Value	1,115	0
12 Months or Greater, Unrealized Losses	(55)	0
Total, Fair Value	2,486	1,292
Total, Unrealized Losses	(69)	(91)
Home equity
Schedule of Available-for-sale Securities [Line Items]
Total	8,287	9,341
Gross Unrealized Gains, Debt securities	380	286
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	8,667	9,627
Manufactured housing
Schedule of Available-for-sale Securities [Line Items]
Total	0	0
Gross Unrealized Gains, Debt securities	0	0
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	0	0
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	19,976	18,313
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	940	4,154
Less than 12 Months, Unrealized Losses	(128)	(305)
12 Months or Greater, Fair Value	375	422
12 Months or Greater, Unrealized Losses	(74)	(61)
Total, Fair Value	1,315	4,576
Total, Unrealized Losses	$ (202)	$ (366)

Investments (Unrealized Losses)

Investments (Unrealized Losses) (Details)	3 Months Ended
	Sep. 30, 2017USD ($)security
Asset-Backed Security
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Securities, other-than-temporarily impaired | $	$ 0
Debt Securities
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of issues	168
Gross unrealized losses, percentage of total debt	12.70%
Gross unrealized losses, market value as a percent of amortized cost	98.40%
Gross unrealized losses, number of securities with maturities of 12 months or greater	28
Gross unrealized losses, number of securities with maturities of 12 months or greater (as a percentage)	16.70%
Equity securities
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of securities rated investment grade	26
External Credit Rating, Investment Grade | Debt Securities
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of securities rated investment grade	163

Investments (Mortgage Loans and

Investments (Mortgage Loans and Real Estate) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 189,273	$ 175,184
Allowance for possible losses, amount	(650)	(650)
Totals, amount	$ 188,623	$ 174,534
Mortgage loans, percentage	100.00%	100.00%
Allowance for possible losses, percentage	(0.30%)	(0.40%)
Totals, percentage	99.70%	99.60%
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of period	$ 650	$ 650
Provision	0	0
Releases	0	0
Balance, end of period	650	650
Less than 50%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 80,202	$ 54,783
Mortgage loans, percentage	42.40%	31.30%
50% to 60%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 27,630	$ 12,946
Mortgage loans, percentage	14.60%	7.40%
70% to 80%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 64,253	$ 76,959
Mortgage loans, percentage	33.90%	43.90%
70% to 80%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 4,657	$ 6,192
Mortgage loans, percentage	2.50%	3.50%
70% to 80%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 6,999	$ 18,688
Mortgage loans, percentage	3.70%	10.70%
Greater than 90%
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 5,532	$ 5,616
Mortgage loans, percentage	2.90%	3.20%

Investments (Contractual Maturi

Investments (Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Securities Available for Sale- Amortized Cost
Due in 1 year or less	$ 107,418
Due after 1 year through 5 years	1,134,227
Due after 5 years through 10 years	1,604,862
Due after 10 years	51,203
Amortized Cost	2,897,710
Mortgage and asset-backed securities	30,077
Total	2,927,787	$ 2,977,020
Debt Securities Available for Sale- Fair Value
Due in 1 year or less	109,701
Due after 1 year through 5 years	1,193,059
Due after 5 years through 10 years	1,638,814
Due after 10 years	51,972
Fair Value	2,993,546
Mortgage and asset-backed securities	32,081
Total	3,025,627	3,042,050
Debt Securities Held to Maturity - Amortized Costs
Due in 1 year or less	327,702
Due after 1 year through 5 years	2,165,828
Due after 5 years through 10 years	3,103,155
Due after 10 years	366,282
Amortized Cost	5,962,967
Mortgage and asset-backed securities	1,302,028
Total	7,264,995	7,159,259
Debt Securities Held to Maturity - Fair Value
Due in 1 year or less	334,140
Due after 1 year through 5 years	2,270,603
Due after 5 years through 10 years	3,174,126
Due after 10 years	382,281
Fair Value	6,161,150
Mortgage and asset-backed securities	1,337,772
Total	$ 7,498,922	$ 7,337,611

Investments (Real Estate) (Deta

Investments (Real Estate) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Other long-term investments	$ 48,933		$ 53,954
Real Estate
Schedule of Available-for-sale Securities [Line Items]
Other long-term investments	31,300		$ 31,800
Operating income from real estate	$ 2,100	$ 2,000

Fair Value of Financial Instr46

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 3,045,603	$ 3,060,363
Derivatives, index options	163,536	120,644
Total assets	3,209,139	3,181,007
Policyholder account balances	175,221	122,666
Other liabilities	16,641	12,027
Total liabilities	$ 191,862	$ 134,693
Percent of total (in percentage)	100.00%	100.00%
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 19,976	$ 18,313
Derivatives, index options	0	0
Total assets	19,976	18,313
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	$ 0
Percent of total (in percentage)	0.60%	0.60%
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 3,025,627	$ 3,042,050
Derivatives, index options	0	0
Total assets	3,025,627	3,042,050
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	$ 0
Percent of total (in percentage)	94.30%	95.60%
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	$ 0
Derivatives, index options	163,536	120,644
Total assets	163,536	120,644
Policyholder account balances	175,221	122,666
Other liabilities	16,641	12,027
Total liabilities	$ 191,862	$ 134,693
Percent of total (in percentage)	5.10%	3.80%
Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 3,025,627	$ 3,042,050
Debt Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,025,627	3,042,050
Debt Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	19,976	18,313
Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	19,976	18,313
Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Derivatives, index options
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	163,536	120,644
Derivatives, index options | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Derivatives, index options | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Derivatives, index options | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	163,536	120,644
Priced by Third-Party Vendors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	163,536	120,644
Priced by Third-Party Vendors | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced by Third-Party Vendors | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced by Third-Party Vendors | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	163,536	120,644
Priced by Third-Party Vendors | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,025,627	3,042,050
Priced by Third-Party Vendors | Debt Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced by Third-Party Vendors | Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,025,627	3,042,050
Priced by Third-Party Vendors | Debt Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced by Third-Party Vendors | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	19,976	18,313
Priced by Third-Party Vendors | Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	19,976	18,313
Priced by Third-Party Vendors | Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced by Third-Party Vendors | Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced Internally | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced Internally | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced Internally | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options	0	0
Priced Internally | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Debt Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Debt Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Priced Internally | Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	$ 0

Fair Value of Financial Instr47

Fair Value of Financial Instruments (Fair Value Measurements for Level 3 Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	$ 149,341	$ 63,319	$ 120,644	$ 38,409
Total realized and unrealized gains (losses):
Included in net income	45,130	19,113	138,552	8,307
Purchases	19,847	18,848	55,226	56,387
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(50,782)	(11,183)	(150,886)	(13,006)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	163,536	90,097	163,536	90,097
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	16,436	23,851	83,540	15,628
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	173,356	81,056	134,693	66,028
Total realized and unrealized gains (losses):
Included in net income	48,927	13,492	152,569	(7,691)
Purchases	19,847	18,848	55,226	56,387
Sales	0	0		0
Issuances	531	388	1,275	921
Settlements	(50,799)	(11,255)	(151,901)	(13,116)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	191,862	102,529	191,862	102,529
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	17,195	25,150	87,894	13,582
Debt Securities, Available for Sale
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Equity Securities, Available for Sale
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Derivatives, index options
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	149,341	63,319	120,644	38,409
Total realized and unrealized gains (losses):
Included in net income	45,130	19,113	138,552	8,307
Purchases	19,847	18,848	55,226	56,387
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(50,782)	(11,183)	(150,886)	(13,006)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	163,536	90,097	163,536	90,097
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	16,436	23,851	83,540	15,628
Net investment income
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	16,436	23,851	83,540	15,628
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net investment income | Debt Securities, Available for Sale
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net investment income | Equity Securities, Available for Sale
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net investment income | Derivatives, index options
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	16,436	23,851	83,540	15,628
Benefits and expenses
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	17,195	25,150	87,894	13,582
Benefits and expenses | Debt Securities, Available for Sale
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Benefits and expenses | Equity Securities, Available for Sale
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Benefits and expenses | Derivatives, index options
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	$ 0	$ 0	$ 0	$ 0

Fair Values of Financial Inst48

Fair Values of Financial Instruments (Quantitative Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 3,209,139	$ 3,181,007
Financial and Nonfinancial Liabilities, Fair Value Disclosure	191,862	134,693
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	163,536	120,644
Financial and Nonfinancial Liabilities, Fair Value Disclosure	191,862	134,693
Derivatives, index options | Broker prices | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	163,536	120,644
Policyholder account balances | Deterministic cash flow model | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	175,221	122,666
Other liabilities | Black-Scholes model | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 16,641	$ 12,027

Fair Values of Financial Inst49

Fair Values of Financial Instruments (Fair Value by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Securities held to maturity	$ 7,498,922	$ 7,337,611
Securities available for sale	3,045,603	3,060,363
Derivatives, index options	163,536	120,644
Fair Values
ASSETS
Securities held to maturity	7,498,922	7,337,611
Securities available for sale	3,045,603	3,060,363
Cash and cash equivalents	170,560	51,247
Mortgage loans	189,739	176,890
Policy loans	102,536	101,092
Other loans	10,091	14,898
Derivatives, index options	163,536	120,644
Short-term investments	0
Life interest in Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,418,285	7,367,851
Immediate annuity and supplemental contracts	469,348	470,414
Carrying Values
ASSETS
Securities held to maturity	7,264,995	7,159,259
Securities available for sale	3,045,603	3,060,363
Cash and cash equivalents	170,560	51,247
Mortgage loans	188,623	174,534
Policy loans	57,466	58,699
Other loans	9,786	14,343
Derivatives, index options	163,536	120,644
Short-term investments	0
Life interest in Trust	7,550	7,550
LIABILITIES
Deferred annuity contracts	7,806,058	7,739,337
Immediate annuity and supplemental contracts	439,440	443,226
Level 1
ASSETS
Securities held to maturity	0	0
Securities available for sale	19,976	18,313
Cash and cash equivalents	170,560	51,247
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Short-term investments	0
Life interest in Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 2
ASSETS
Securities held to maturity	7,498,922	7,337,611
Securities available for sale	3,025,627	3,042,050
Cash and cash equivalents	0	0
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Short-term investments	0
Life interest in Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 3
ASSETS
Securities held to maturity	0	0
Securities available for sale	0	0
Cash and cash equivalents	0	0
Mortgage loans	189,739	176,890
Policy loans	102,536	101,092
Other loans	10,091	14,898
Derivatives, index options	163,536	120,644
Short-term investments	0
Life interest in Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,418,285	7,367,851
Immediate annuity and supplemental contracts	$ 469,348	$ 470,414

Derivative Investments (Balance

Derivative Investments (Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 163,536	$ 120,644
Liability Derivatives	175,221	122,666
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	163,536	120,644
Liability Derivatives	175,221	122,666
Derivatives not designated as hedging instruments | Equity index options | Derivatives, index options
Derivatives, Fair Value [Line Items]
Asset Derivatives	163,536	120,644
Derivatives not designated as hedging instruments | Fixed-index products | Universal Life and Annuity Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 175,221	$ 122,666

Derivative Investments (Stateme

Derivative Investments (Statements of Earnings) (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (3,037)	$ 6,920	$ (9,662)	$ 13,952
Equity index options | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	45,131	19,114	138,552	8,307
Fixed-index products | Universal Life and Annuity Contract Interest
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (48,168)	$ (12,194)	$ (148,214)	$ 5,645