National Western Life Group Inc - Ordinary Shares (NWLI) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 06, 2018
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	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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	Jun. 30, 2018	Dec. 31, 2017
Investments:
Debt securities held to maturity, at amortized cost (fair value: $7,261,763 and $7,434,104)	$ 7,315,947	$ 7,247,024
Debt securities available for sale, at fair value (cost: $3,022,106 and $2,964,510)	2,980,103	3,041,131
Mortgage loans, net of allowance for possible losses ($650 and $650)	196,752	208,249
Policy loans	55,603	56,405
Derivatives, index options	102,007	194,731
Equity securities	18,637	18,478
Other long-term investments	49,969	51,828
Total investments	10,719,018	10,817,846
Cash and cash equivalents	126,519	217,624
Deferred policy acquisition costs	848,392	819,511
Deferred sales inducements	138,920	135,570
Accrued investment income	98,679	96,818
Federal income tax receivable	13,771	0
Other assets	140,520	137,725
Total assets	12,085,819	12,225,094
Future policy benefits:
Universal life and annuity contracts	9,818,830	9,962,589
Traditional life reserves	135,149	135,895
Other policyholder liabilities	133,344	128,009
Deferred Federal income tax liability	24,918	25,408
Federal income tax payable	0	2,701
Other liabilities	126,671	138,318
Total liabilities	10,238,912	10,392,920
COMMITMENTS AND CONTINGENCIES (Note 8)
Common stock:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income	(34,741)	14,281
Retained earnings	1,839,896	1,776,141
Total stockholders’ equity	1,846,907	1,832,174
Total liabilities and stockholders' equity	12,085,819	12,225,094
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	Jun. 30, 2018	Dec. 31, 2017
Debt securities held to maturity - fair value	$ 7,261,763	$ 7,434,104
Debt securities available for sale - cost	3,022,106	2,964,510
Mortgage loans-allowance for possible losses	650	650
Equity securities - cost	$ 13,197	$ 12,890
Class A
STOCKHOLDERS’ EQUITY:
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000	7,500,000
Common stock, shares issued (in shares)	3,436,166	3,436,166
Common stock, shares outstanding (in shares)	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 (in shares)	200,000	200,000
Common stock, shares issued (in shares)	200,000	200,000
Common stock, shares outstanding (in shares)	200,000	200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Premiums and other revenues:
Universal life and annuity contract charges	$ 39,945	$ 40,697	$ 78,465	$ 82,061
Traditional life premiums	4,928	4,133	9,073	8,354
Net investment income	121,802	142,612	182,547	314,354
Other revenues	5,287	4,537	10,284	9,042
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)	3	23	6	43
Portion of OTTI (gains) losses recognized in other comprehensive income	(3)	(23)	(6)	(43)
Net OTTI losses recognized in earnings	0	0	0	0
Other net investment gains (losses)	2,696	6,247	3,307	8,832
Total net realized investment gains (losses)	2,696	6,247	3,307	8,832
Total revenues	174,658	198,226	283,676	422,643
Benefits and expenses:
Life and other policy benefits	17,461	17,854	38,862	37,611
Amortization of deferred policy acquisition costs	31,069	33,058	63,298	67,270
Universal life and annuity contract interest	60,990	82,170	59,172	192,063
Other operating expenses	24,795	26,343	48,428	51,435
Total benefits and expenses	134,315	159,425	209,760	348,379
Earnings before Federal income taxes	40,343	38,801	73,916	74,264
Federal income taxes	7,877	13,318	14,575	25,243
Net earnings	32,466	25,483	59,341	49,021
Class A
Benefits and expenses:
Net earnings	$ 31,548	$ 24,762	$ 57,663	$ 47,635
Basic earnings per share:
Earnings per share, basic (in dollars per share)	$ 9.18	$ 7.21	$ 16.78	$ 13.86
Diluted earnings per share:
Earnings per share, diluted (in dollars per share)	$ 9.18	$ 7.21	$ 16.78	$ 13.86
Class B
Benefits and expenses:
Net earnings	$ 918	$ 721	$ 1,678	$ 1,386
Basic earnings per share:
Earnings per share, basic (in dollars per share)	$ 4.59	$ 3.60	$ 8.39	$ 6.93
Diluted earnings per share:
Earnings per share, diluted (in dollars per share)	$ 4.59	$ 3.60	$ 8.39	$ 6.93

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 32,466	$ 25,483	$ 59,341	$ 49,021
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period	(15,068)	7,788	(49,822)	13,267
Net unrealized liquidity gains (losses)	2	(30)	2	13
Reclassification adjustment for net amounts included in net earnings	(1,564)	(1,068)	(1,597)	(1,758)
Net unrealized gains (losses) on securities	(16,630)	6,690	(51,417)	11,522
Foreign currency translation adjustments	39	(86)	1,207	(171)
Benefit plans:
Amortization of net prior service cost and net gain (loss)	2,801	(933)	5,602	(1,820)
Other comprehensive income (loss)	(13,790)	5,671	(44,608)	9,531
Comprehensive income (loss)	$ 18,676	$ 31,154	$ 14,733	$ 58,552

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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle, net of tax (See Note 2)					$ 0					$ 0
Total stockholders’ equity, beginning of period at Dec. 31, 2016		$ 36	$ 41,716		22,813	$ (203)	$ (1)	$ 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	$ 13,267				11,509
Amortization						28
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Other-than-temporary impairments, non-credit, net of tax							0
Change in shadow deferred policy acquisition costs						(15)	0
Recoveries, net of tax							0
Change in translation adjustments during period	(171)							(171)
Amortization of net prior service cost and net loss, net of tax	(1,820)								(1,820)
Net earnings	49,021									49,021
Stockholder dividends										0
Total stockholders’ equity, end of period at Jun. 30, 2017	1,780,380	36	41,716	$ 20,083	34,322	(190)	(1)	2,490	(16,538)	1,718,545
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle, net of tax (See Note 2)					(4,414)					4,414
Total stockholders’ equity, beginning of period at Dec. 31, 2017	1,832,174	36	41,716		33,664	(10)	(1)	3,223	(22,595)	1,776,141
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	(49,822)				(51,419)
Amortization						5
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Other-than-temporary impairments, non-credit, net of tax							0
Change in shadow deferred policy acquisition costs						(3)	0
Recoveries, net of tax							0
Change in translation adjustments during period	1,207							1,207
Amortization of net prior service cost and net loss, net of tax	5,602								5,602
Net earnings	59,341									59,341
Stockholder dividends										0
Total stockholders’ equity, end of period at Jun. 30, 2018	$ 1,846,907	$ 36	$ 41,716	$ (34,741)	$ (22,169)	$ (8)	$ (1)	$ 4,430	$ (16,993)	$ 1,839,896

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net earnings	$ 59,341	$ 49,021
Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest	59,172	192,063
Surrender charges and other policy revenues	(19,138)	(23,568)
Realized (gains) losses on investments	(3,307)	(8,832)
Accretion/amortization of discounts and premiums, investments	(150)	221
Depreciation and amortization	5,932	4,962
(Increase) decrease in value of equity securities	107	0
(Increase) decrease in value of derivatives	34,102	(93,421)
(Increase) decrease in deferred policy acquisition and sales inducement costs	21,304	20,987
(Increase) decrease in accrued investment income	(1,861)	1,211
(Increase) decrease in other assets	(8,071)	(3,307)
Increase (decrease) in liabilities for future policy benefits	1,389	6,748
Increase (decrease) in other policyholder liabilities	5,335	2,862
Increase (decrease) in Federal income tax liability	(16,472)	(15,182)
Increase (decrease) in deferred Federal income tax	11,367	(12,281)
Increase (decrease) in other liabilities	(3,890)	9,264
Net cash provided by operating activities	145,160	130,748
Proceeds from sales of:
Debt securities held to maturity	0	0
Debt securities available for sale	0	22,184
Other investments	2,220	312
Proceeds from maturities and redemptions of:
Debt securities held to maturity	275,670	233,272
Debt securities available for sale	105,678	144,617
Derivatives, index options	105,615	100,516
Property and equipment	8	2,731
Purchases of:
Debt securities held to maturity	(343,145)	(296,706)
Debt securities available for sale	161,416	116,225
Equity securities	(406)	(702)
Derivatives, index options	(44,943)	(36,587)
Other investments	(586)	(188)
Property and equipment	(2,988)	(233)
Principal payments on mortgage loans	21,521	22,685
Cost of mortgage loans acquired	(9,895)	(31,779)
Decrease (increase) in policy loans	802	800
Net cash provided by/(used in) investing activities	(51,865)	44,697
Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts	316,906	360,928
Return of account balances on universal life and annuity contracts	(502,834)	(478,290)
Net cash provided by (used in) financing activities	(185,928)	(117,362)
Effect of foreign exchange	1,528	(262)
Net increase (decrease) in cash and cash equivalents	(91,105)	57,821
Cash and cash equivalents at beginning of period	217,624	51,247
Cash and cash equivalents at end of period	126,519	109,068
Cash paid (received) during the period for:
Interest	20	19
Income Taxes Paid, Net	19,680	52,706
Noncash operating activities:
Deferral of sales inducements	$ (6,177)	$ (3,986)

Consolidation and Basis of Pres

Consolidation and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 , and the results of its operations and its cash flows for the three and six months ended June 30, 2018 and June 30, 2017 . Such adjustments are of a normal recurring nature. The results of operations for the six months ended June 30, 2018 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, 2017 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, 2017 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 six months ended June 30, 2018 and June 30, 2017 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Other net investment gains (losses) $ 1,981 1,644 2,021 2,705 Net OTTI losses recognized in earnings — — — — Earnings before Federal income taxes 1,981 1,644 2,021 2,705 Federal income taxes 417 576 424 947 Net earnings $ 1,564 1,068 1,597 1,758

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Recent accounting pronouncements not yet adopted In June 2016, the FASB released Accounting Standards Update ("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. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. 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. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. 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. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In June 2018, the FASB released ASU 2018-07 Compensation - Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting . This update largely aligns the accounting for share-based payment awards issued to employees and nonemployees. Previously, nonemployee stock compensation was accounted for under Subtopic 505-50 but will now fall under Topic 718. Changes to the accounting for nonemployee awards include 1) measurement based on fair value of the equity instrument at grant date, rather than previous requirement to measure based on the more reliable option of the fair value of the consideration or the fair value of the equity instrument, 2) initial measurement at grant date, rather than the earlier of the date at which commitment for performance is reached or performance is complete, and 3) when performance conditions are present, the probability of satisfying performance conditions should be considered in measurement rather than the previous requirement to measure at the lowest aggregate fair value. The amendments in the new guidance are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal period. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. Recent accounting pronouncements adopted In January 2018, the Company adopted ASU 2017-07 Compensation-Retirement Benefits (Topic 615): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The new guidance requires that an employer that offers to its employees defined benefit pension or other postretirement benefit plans report the service cost component in the same line item or items as other compensation costs. The other components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item is not used, the line item used in the income statement to present the other components of net periodic benefit cost must be disclosed. In addition, the guidance allows only the service cost component to be eligible for capitalization when applicable. The adoption of the guidance did not have a material impact on the Company’s consolidated financial statements. In February 2018, the FASB released ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The update addresses certain stranded income tax effects in accumulated other comprehensive income caused by the Tax Cuts and Job Act ("Tax Act") which was passed in December 2017. Under the new FASB rules, financial statement preparers are provided the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recorded. Companies must apply the new guidance for fiscal years, including interim periods within such years, starting after December 15, 2018, with early adoption permitted. The amendments are to be applied in either the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the federal corporate income tax rate from the Tax Act is recognized. The Company's accounting policy for the release of stranded tax effects in AOCI is on an aggregate portfolio basis. The Company elected to adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2017 and has reported the resultant reclassification amount, $2.5 million , as a charge to Retained Earnings in the accompanying Consolidated Statements of Changes in Stockholders' Equity. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The guidance requires companies to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. As an insurance enterprise, the primary sources of revenue are excluded from this guidance, including insurance premiums, contract charges, and investment revenues. We have certain types of non-insurance and non-investment revenue from contracts with customers that fall under this guidance. These revenues are recognized when obligations under the terms of the contract are satisfied. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for those services. For these revenues, the performance obligation is fulfilled as services are rendered. Revenues from contracts with customers identified under Topic 606 are not material, approximately 2% of total revenues for the year ended December 31, 2017. The guidance was effective for reporting periods beginning after December 15, 2017. The adoption of this ASU did not have a material effect on the results of operations or financial position of the Company. In January 2016, the FASB released ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities . The main provisions of the update 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 require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value be recorded as adjustments directly to the income statement. The provisions of this update became effective for the Company beginning January 1, 2018. The prospective adoption of this update resulted in the reclassification of $4.4 million pertaining to unrealized gains, net of tax, out of Accumulated Other Comprehensive Income into Retained Earnings as a cumulative effect of a change in accounting principle, as shown in the Condensed Consolidated Statements of Changes in Stockholders' Equity. Equity securities, previously included in Securities Available for Sale are now reported as a separate line item on the Consolidated Balance Sheet. The change in fair value of equity securities, previously reported in Other Comprehensive income, is now included in net investment income in the Condensed Consolidated Statements of Earnings. As the Company's equity securities holdings are not significant, the adoption of the requirements of this update did not have a material impact on the Company’s financial position, results of operations or cash flows. 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 became effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. The adoption of this ASU did not have a material effect on the results of operations or financial position of the Company. 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	6 Months Ended
	Jun. 30, 2018
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 the previous calendar year-end. The maximum dividend payment which may be made without prior approval in 2018 is $127.3 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 first quarter of 2018, National Western declared and paid a $3.0 million dividend to NWLGI. During the second quarter of 2017 National Western declared and paid a $4.0 million dividend to NWLGI. NWLGI did not declare or pay cash dividends on its common shares during the six months ended June 30, 2018 and 2017 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share of common stock are computed by dividing net income available to each class of common stockholders on an as if distributed basis by the weighted-average number of common shares outstanding for the period. Diluted earnings per share, by definition, reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock, that then shared in the distributed earnings of each class of common stock. U.S. GAAP requires a two-class presentation for the Company's two classes of common stock. However, settlement of stock option exercises in cash or by issuance of shares is at the discretion of the Company's option holders and such exercises have been predominantly in cash. Consequently, the Company's stock options outstanding are not considered potentially dilutive under accounting guidance. Net income for the periods shown below 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 June 30, 2018 2017 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 32,466 25,483 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 32,466 25,483 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 31,548 918 24,762 721 Net income $ 31,548 918 24,762 721 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 $ 9.18 4.59 7.21 3.60 Diluted Earnings Per Share $ 9.18 4.59 7.21 3.60 Six Months Ended June 30, 2018 2017 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 59,341 49,021 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 59,341 49,021 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 57,663 1,678 47,635 1,386 Net income $ 57,663 1,678 47,635 1,386 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 $ 16.78 8.39 13.86 6.93 Diluted Earnings Per Share $ 16.78 8.39 13.86 6.93

Pension and Other Postretiremen

Pension and Other Postretirement Plans	6 Months Ended
	Jun. 30, 2018
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. As participants are no longer earning a credit for service, future qualified defined benefit plan expense is projected to be minimal. Fair values of plan assets and liabilities are measured as of the prior December 31 for each year. The following table summarizes the components of net periodic benefit cost. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Service cost $ 28 27 56 54 Interest cost 225 239 450 478 Expected return on plan assets (325 ) (307 ) (650 ) (614 ) Amortization of prior service cost — — — — Amortization of net loss 131 159 262 318 Net periodic benefit cost $ 59 118 118 236 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 2018 plan year is $0.1 million . There was no remaining contribution payable for the 2017 plan year as of June 30, 2018 . As of June 30, 2018 , the company had minimal contributions to the plan for the 2018 plan year. National Western also sponsors three non-qualified defined benefit pension plans. The first plan covers certain senior officers and provides benefits based on the participants' years of service and compensation. The primary 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"), a related party. 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 non-qualified defined benefit plans. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Service cost $ 90 204 180 408 Interest cost 213 347 426 694 Amortization of prior service cost 15 15 30 30 Amortization of net loss 176 819 352 1,637 Net periodic benefit cost $ 494 1,385 988 2,769 The company expects to contribute $2.0 million to these plans in 2018 . As of June 30, 2018 , the company has contributed $0.9 million to the plans. (B) Postretirement Employment Plans Other Than Pension National Western sponsors two healthcare plans that were amended in 2004 to provide postretirement benefits to certain fully-vested individuals. The plan is unfunded. The following table summarizes the components of net periodic benefit costs. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Interest cost $ 40 39 80 69 Amortization of prior service cost 26 26 52 52 Amortization of net loss 38 21 75 21 Net periodic benefit cost $ 104 86 207 142 The company expects to contribute minimal amounts to the plan in 2018 .

Segment and Other Operating Inf

Segment and Other Operating Information	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 for the Condensed Consolidated Balance Sheet items and for the three and six months ended June 30, 2018 and June 30, 2017 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: June 30, 2018 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 112,975 248,621 625,716 — 987,312 Total segment assets 1,173,465 1,227,200 9,086,354 381,620 11,868,639 Future policy benefits 1,004,473 901,729 8,047,777 — 9,953,979 Other policyholder liabilities 12,561 20,453 100,330 — 133,344 December 31, 2017 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 101,253 250,128 603,700 — 955,081 Total segment assets 1,106,410 1,236,733 9,269,956 398,597 12,011,696 Future policy benefits 950,884 915,384 8,232,216 — 10,098,484 Other policyholder liabilities 13,643 11,318 103,048 — 128,009 Condensed Consolidated Statement of Earnings: Three Months Ended June 30, 2018 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 10,114 27,461 7,298 — 44,873 Net investment income 13,556 10,603 86,915 10,728 121,802 Other revenues — 4 18 5,265 5,287 Total revenues 23,670 38,068 94,231 15,993 171,962 Life and other policy benefits 5,103 4,534 7,824 — 17,461 Amortization of deferred policy acquisition costs 2,709 7,336 21,024 — 31,069 Universal life and annuity contract interest 9,907 7,600 43,483 — 60,990 Other operating expenses 5,006 5,628 9,085 5,076 24,795 Federal income taxes (benefit) 185 2,516 2,478 2,132 7,311 Total expenses 22,910 27,614 83,894 7,208 141,626 Segment earnings (loss) $ 760 10,454 10,337 8,785 30,336 Six Months Ended June 30, 2018 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 19,715 55,378 12,445 — 87,538 Net investment income 14,219 12,574 140,458 15,296 182,547 Other revenues — 34 37 10,213 10,284 Total revenues 33,934 67,986 152,940 25,509 280,369 Life and other policy benefits 9,912 10,262 18,688 — 38,862 Amortization of deferred acquisition costs 5,384 14,716 43,198 — 63,298 Universal life and annuity contract interest 7,046 6,450 45,676 — 59,172 Other operating expenses 10,153 11,009 17,020 10,246 48,428 Federal income taxes (benefit) 283 5,023 5,576 2,999 13,881 Total expenses 32,778 47,460 130,158 13,245 223,641 Segment earnings (loss) $ 1,156 20,526 22,782 12,264 56,728 Three Months Ended June 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 9,066 29,710 6,054 — 44,830 Net investment income 15,023 14,251 105,474 7,864 142,612 Other revenues 6 21 38 4,472 4,537 Total revenues 24,095 43,982 111,566 12,336 191,979 Life and other policy benefits 5,448 4,677 7,729 — 17,854 Amortization of deferred acquisition costs 2,994 6,305 23,759 — 33,058 Universal life and annuity contract interest 11,210 11,377 59,583 — 82,170 Other operating expenses 5,157 7,207 9,814 4,165 26,343 Federal income taxes (benefit) (242 ) 4,928 3,656 2,790 11,132 Total expenses 24,567 34,494 104,541 6,955 170,557 Segment earnings (loss) $ (472 ) 9,488 7,025 5,381 21,422 Six Months Ended June 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 17,915 61,210 11,290 — 90,415 Net investment income 34,613 32,870 231,908 14,963 314,354 Other revenues 19 47 64 8,912 9,042 Total revenues 52,547 94,127 243,262 23,875 413,811 Life and other policy benefits 10,367 10,962 16,282 — 37,611 Amortization of deferred acquisition costs 5,783 13,711 47,776 — 67,270 Universal life and annuity contract interest 27,457 27,759 136,847 — 192,063 Other operating expenses 9,889 13,185 19,874 8,487 51,435 Federal income taxes (benefit) (321 ) 9,652 7,612 5,209 22,152 Total expenses 53,175 75,269 228,391 13,696 370,531 Segment earnings (loss) $ (628 ) 18,858 14,871 10,179 43,280 Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 44,873 44,830 87,538 90,415 Net investment income 121,802 142,612 182,547 314,354 Other revenues 5,287 4,537 10,284 9,042 Realized gains (losses) on investments 2,696 6,247 3,307 8,832 Total condensed consolidated premiums and other revenues $ 174,658 198,226 283,676 422,643 Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 7,311 11,132 13,881 22,152 Taxes on realized gains (losses) on investments 566 2,186 694 3,091 Total condensed consolidated Federal income taxes $ 7,877 13,318 14,575 25,243 Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Net Earnings : Total segment earnings $ 30,336 21,422 56,728 43,280 Realized gains (losses) on investments, net of taxes 2,130 4,061 2,613 5,741 Total condensed consolidated net earnings $ 32,466 25,483 59,341 49,021 June 30, December 31, 2018 2017 (In thousands) Assets : Total segment assets $ 11,868,639 12,011,696 Other unallocated assets 217,180 213,398 Total condensed consolidated assets $ 12,085,819 12,225,094

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2018
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 non-qualified stock options; (2) stock appreciation rights ("SARs"), 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 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 stock options were granted under the 1995 Plan and 2008 Plan. Employee stock options and SARs granted vest 20% annually following three years of service following the grant date. Directors' stock options and SARs 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 common 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 shares 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. 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 shares at that time. The following table shows all grants issued to officers and directors for the three and six months ended June 30, 2018 and 2017 . These grants were made based upon closing market price per Class A common share at the time of the grant. Three Months Ended June 30, 2018 June 30, 2017 Officer Director Officer Director SARs — — 203 — RSUs — — 51 — PSUs — — 101 — Six Months Ended June 30, 2018 June 30, 2017 Officer Director Officer Director SARs — — 11,715 — RSUs — — 2,725 1,660 PSUs — — 4,526 — The Company uses the current fair value method to measure compensation cost for awards granted under the share-based plans. As of June 30, 2018 and 2017 , the liability balance was $14.0 million and $15.4 million , respectively. A summary of awards by type and related activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2018 291,000 18,018 $ 242.07 Exercised — (18,018 ) $ 242.07 Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at June 30, 2018 291,000 — $ — Liability Awards SAR RSU PSU Other Share/Unit Awards: Balance at January 1, 2018 92,667 11,721 14,052 Exercised (1,328 ) (1,494 ) — Forfeited (1,442 ) (419 ) — Granted — — — Balance at June 30, 2018 89,897 9,808 14,052 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 share-based compensation exercised was $1.9 million and $0.2 million for the six months ended June 30, 2018 and 2017 , respectively. The total share-based compensation paid during the period was $1.9 million and $0.2 million for the six months ended June 30, 2018 and 2017 , respectively. The total fair value of stock options and SARs vested during the six months ended June 30, 2018 and 2017 was $0.8 million and $0.7 million , respectively. For the six months ended June 30, 2018 and 2017 , the total cash received from the exercise of stock options under the Plans was $0.0 million and $0.2 million , respectively. The following table summarizes information about SARs outstanding at June 30, 2018 . There were no options outstanding as of June 30, 2018. SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: 114.64 (SARs) 10,900 0.6 years 10,900 132.56 (SARs) 20,018 3.5 years 16,115 210.22 (SARs) 26,100 5.5 years 11,600 216.48 (SARs) 11,853 7.6 years 7,717 311.16 (SARs) 10,665 8.6 years 3,572 310.55 (SARs) 203 8.8 years 67 334.34 (SARs) 10,158 9.5 years — Totals 89,897 49,971 Aggregate intrinsic value (in thousands) $ 9,205 $ 6,741 The aggregate intrinsic value in the table above is based on the closing Class A stock price of $ 307.26 per share on June 30, 2018 . The SARs shown above with exercise price of $114.64 have a remaining contractual life of less than one year. The holders for this grant have until the end of the contractual life of February19, 2019 to exercise these holdings or otherwise forfeit the grants held. In estimating the fair value of the share-based awards outstanding at June 30, 2018 and December 31, 2017 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. June 30, December 31, Expected term of options 0.6 to 9.5 years 0.3 to 10.0 years Expected volatility weighted-average 21.67 % 21.55 % Expected dividend yield 0.12 % 0.11 % Risk-free rate weighted-average 2.44 % 1.82 % 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/SARs expected exercise date. The pre-tax compensation cost/(benefit) recognized in the financial statements related to these plans was $1.3 million and $0.7 million for the three and six months ended June 30, 2018 and $3.6 million and $4.3 million for the three and six months ended June 30, 2017, respectively. The related tax expense/(benefit) recognized was $(0.3) million and $(0.1) million for the three and six months ended June 30, 2018 and $(1.2) million and $(1.5) million for the three and six months ended June 30, 2017, respectively. As of June 30, 2018 , the total compensation cost related to non-vested share-based awards not yet recognized was $5.1 million . This amount is expected to be recognized over a weighted-average period of 1.2 years . The Company recognizes compensation cost over the graded vesting periods.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
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. 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 Plaintiffs' Motion on October 27, 2017. On April 2, 2018 the Court asked the parties for additional briefing regarding the Court's jurisdiction over Francisco Iglesias-Alvarez, which the parties filed on April 30, 2018. On May 14, 2018, National Western filed its Opposition to Plaintiffs' Brief. Plaintiffs filed a Motion to Strike on May 22, 2018, which National Western opposed on June 4, 2018. On August 6, 2018, the Court issued an Opinion and Order dismissing plaintiffs’ case without prejudice. 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 challenges the directors’ oversight of insurance sales to non-U.S. residents and 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 ("Pleas") contesting the plaintiff's standing to even pursue this action, along with their Answers, on October 27, 2017. On December 14, 2017, plaintiff filed a Response to the Pleas and on December 21, 2017, the Court heard oral argument on the Pleas. Plaintiff then filed a First Amended Petition on January 11, 2018. The companies and directors filed a Supplement to the Pleas on January 30, 2018, to which plaintiff responded on February 1, 2018, and the companies and directors replied on February 9, 2018. On May 3, 2018, the Court issued a memorandum to all attorneys of record stating that the Court will grant the defendants' Pleas and asking the attorney for defendants to prepare and submit proposed orders/judgments granting the requested relief for consideration by the Court. The defendants filed such proposed order granting the Pleas on May 7, 2018. On May 16, 2018 the Court issued an Order granting the Pleas and dismissing Robert L. Moody, Jr.’s claims with prejudice, and plaintiff then filed a Motion to Transfer Venue (“MTTV”). Defendants filed an Application for Fees, seeking to recover defendants’ legal costs and expenses from plaintiff, and a Response to the MTTV on June 8, 2018. In response plaintiff filed a Motion to Vacate, a Response to the Application for Fees, and their own Request for Attorney’s Fees on July 5, 2018. Defendants filed a Response to the Motion to Vacate and to plaintiff’s Request for Attorney’s Fees on July 11, 2018, and the Court heard oral arguments on July 16, 2018. Plaintiff filed supplemental briefing in support of their July 5, 2018 filings on July 25, 2018, and defendants filed their response to plaintiff's supplemental briefing on July 27, 2018. 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, 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 in March of 2015 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 has been 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 $11.5 million commitments to fund new loans and $8.7 million in commitments to extend credit relating to existing loans at June 30, 2018 . The Company evaluates each customer's creditworthiness on a case-by-case basis.

Investments

Investments	6 Months Ended
	Jun. 30, 2018
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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Available for sale debt securities: Realized gains on disposal $ 1,981 1,635 2,021 2,608 Realized losses on disposal — — — — Held to maturity debt securities: Realized gains on disposal 734 1,982 1,305 3,539 Realized losses on disposal (19 ) (35 ) (19 ) (69 ) Equity securities realized gains (losses) — 8 — 97 Real estate gains (losses) — 2,657 — 2,657 Totals $ 2,696 6,247 3,307 8,832 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 June 30, 2018 and 2017 the percentage of gains on bonds due to the call of securities was 99.9% and 99.0% , respectively. For the six months ended June 30, 2018 and 2017 the percentage of gains on bonds due to the call of securities was 99.7% and 84.0% , 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 Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 3 23 6 43 Portion of loss (gain) recognized in comprehensive income (3 ) (23 ) (6 ) (43 ) 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 June 30, 2018 Six Months Ended June 30, 2018 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 1,440 Reductions for securities sold during current period — — (813 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — — Ending balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 627 (B) Debt Securities The table below presents amortized costs and fair values of debt securities held to maturity at June 30, 2018 . Debt Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,340 131 — 1,471 States and political subdivisions 458,068 11,540 (1,705 ) 467,903 Public utilities 995,587 9,316 (14,698 ) 990,205 Corporate 4,633,657 34,043 (84,964 ) 4,582,736 Residential mortgage-backed 1,222,714 11,955 (19,905 ) 1,214,764 Home equity 3,774 55 (9 ) 3,820 Manufactured housing 807 57 — 864 Totals $ 7,315,947 67,097 (121,281 ) 7,261,763 The table below presents amortized costs and fair values of debt securities available for sale at June 30, 2018 . As indicated in Note (2) New Accounting Pronouncements, effective January 1, 2018, equity securities are no longer included in the Securities Available for Sale category. Debt Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 572 — (5 ) 567 Foreign governments 9,969 11 — 9,980 Public utilities 86,452 1,553 (451 ) 87,554 Corporate 2,900,354 22,050 (66,395 ) 2,856,009 Residential mortgage-backed 17,809 965 (47 ) 18,727 Home equity 6,950 317 (1 ) 7,266 Totals $ 3,022,106 24,896 (66,899 ) 2,980,103 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2017 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,337 177 — 1,514 States and political subdivisions 467,437 21,907 (100 ) 489,244 Public utilities 1,062,545 30,527 (894 ) 1,092,178 Corporate 4,430,099 121,978 (7,876 ) 4,544,201 Residential mortgage-backed 1,280,307 27,445 (6,216 ) 1,301,536 Home equity 4,262 57 (4 ) 4,315 Manufactured housing 1,037 79 — 1,116 Totals $ 7,247,024 202,170 (15,090 ) 7,434,104 The table below presents amortized costs and fair values of securities available for sale at December 31, 2017 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 575 — (29 ) 546 Foreign governments 9,964 326 — 10,290 Public utilities 83,466 3,640 — 87,106 Corporate 2,842,381 81,737 (10,744 ) 2,913,374 Residential mortgage-backed 20,246 1,376 (52 ) 21,570 Home equity 7,878 367 — 8,245 Manufactured housing — — — — 2,964,510 87,446 (10,825 ) 3,041,131 Equity securities 12,890 5,708 (120 ) 18,478 Totals $ 2,977,400 93,154 (10,945 ) 3,059,609 The Company does not consider securities to be other-than-temporarily impaired when the market decline is attributable to factors such as market volatility, liquidity, spread widening and credit quality where it is anticipated that a recovery of all amounts due under the contractual terms of the security will occur and the Company has the intent and ability to hold until recovery or maturity. Based on its review, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2018 . 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 six months ended June 30, 2018 , the Company recorded no other-than-temporary impairment on debt securities. Unrealized losses for debt securities held to maturity and debt securities available for sale increased during the first six months of 2018 primarily due to the upward movement in market interest rates during this period (which decreases the market price of debt securities). The following table shows the gross unrealized losses and fair values of the Company's held to maturity debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 . Debt 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 $ 74,632 (1,521 ) 4,771 (184 ) 79,403 (1,705 ) Public utilities 502,654 (12,539 ) 32,424 (2,159 ) 535,078 (14,698 ) Corporate 2,325,956 (61,863 ) 415,757 (23,101 ) 2,741,713 (84,964 ) Residential mortgage-backed 516,969 (9,169 ) 187,182 (10,736 ) 704,151 (19,905 ) Home equity 2,448 (9 ) — — 2,448 (9 ) Total temporarily impaired securities $ 3,422,659 (85,101 ) 640,134 (36,180 ) 4,062,793 (121,281 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 . Debt 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 $ 567 (5 ) — — 567 (5 ) Public utilities 23,517 (451 ) — — 23,517 (451 ) Corporate 1,550,888 (44,655 ) 304,263 (21,740 ) 1,855,151 (66,395 ) Residential mortgage-backed — — 979 (47 ) 979 (47 ) Home equity 1,371 (1 ) — — 1,371 (1 ) Total temporarily impaired securities $ 1,576,343 (45,112 ) 305,242 (21,787 ) 1,881,585 (66,899 ) 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, 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 $ 6,308 (14 ) 4,869 (86 ) 11,177 (100 ) Public utilities 68,368 (407 ) 34,091 (487 ) 102,459 (894 ) Corporate 248,844 (1,296 ) 431,591 (6,580 ) 680,435 (7,876 ) Residential mortgage-backed 130,015 (738 ) 192,399 (5,478 ) 322,414 (6,216 ) Home equity 2,830 (4 ) — — 2,830 (4 ) Total temporarily impaired securities $ 456,365 (2,459 ) 662,950 (12,631 ) 1,119,315 (15,090 ) 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, 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 $ 546 (29 ) — — 546 (29 ) Corporate 201,575 (1,134 ) 296,845 (9,610 ) 498,420 (10,744 ) Residential mortgage-backed 1,325 (14 ) 1,085 (38 ) 2,410 (52 ) Home equity 1,653 — — — 1,653 — 205,099 (1,177 ) 297,930 (9,648 ) 503,029 (10,825 ) Equity securities 1,246 (77 ) 289 (43 ) 1,535 (120 ) Total temporarily impaired securities $ 206,345 (1,254 ) 298,219 (9,691 ) 504,564 (10,945 ) Debt securities. The gross unrealized losses for debt securities are made up of 658 individual issues, or 50.3% of the total debt securities held by the Company at June 30, 2018 . The market value of these bonds as a percent of amortized cost approximates 96.9% . Of the 658 securities, 123 , or 18.7% , fall in the 12 months or greater aging category; and 648 were rated investment grade at June 30, 2018 . The amortized cost and fair value of investments in debt securities at June 30, 2018 , 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 $ 72,468 74,135 268,904 274,043 Due after 1 year through 5 years 1,220,280 1,229,091 2,652,956 2,661,600 Due after 5 years through 10 years 1,636,845 1,585,446 2,771,865 2,706,537 Due after 10 years 67,754 65,438 394,927 400,135 2,997,347 2,954,110 6,088,652 6,042,315 Mortgage and asset-backed securities 24,759 25,993 1,227,295 1,219,448 Total $ 3,022,106 2,980,103 7,315,947 7,261,763 (C) Transfer of Securities During the three and six months ended June 30, 2018 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. The Company's mortgage, participation and mezzanine loans on real estate are the only financing receivables included in the Consolidated Balance Sheets. 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 June 30, 2018 or 2017 and as a result all interest income was recognized at June 30, 2018 and 2017 . The following table represents the mortgage loan portfolio by loan-to-value ratio. June 30, 2018 December 31, 2017 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 74,261 37.6 $ 82,224 39.4 50% to 60% 15,485 7.9 27,395 13.1 60% to 70% 95,430 48.3 86,849 41.6 70% to 80% 6,787 3.4 — — 80% to 90% 5,439 2.8 6,929 3.3 Greater than 90% — — 5,502 2.6 Gross balance 197,402 100.0 208,899 100.0 Allowance for possible losses (650 ) (0.3 ) (650 ) (0.3 ) Totals $ 196,752 99.7 $ 208,249 99.7 (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 for the periods shown. June 30, 2018 December 31, 2017 (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 $37.0 million and $37.4 million at June 30, 2018 and December 31, 2017 , respectively. The Company recognized operating income on real estate properties of approximately $1.1 million and $1.4 million for the first six months of 2018 and 2017 , respectively.

Fair Values of Financial Instru

Fair Values of Financial Instruments	6 Months Ended
	Jun. 30, 2018
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). 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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,980,103 — 2,980,103 — Equity securities 18,637 18,637 — — Derivatives, index options 102,007 — — 102,007 Total assets $ 3,100,747 18,637 2,980,103 102,007 Policyholder account balances (a) $ 119,009 — — 119,009 Other liabilities (b) 14,004 — — 14,004 Total liabilities $ 133,013 — — 133,013 During the three and six months ended June 30, 2018 , the Company made no transfers into or out of Levels 1, 2 or 3. December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,041,131 — 3,041,131 — Equity securities, available for sale 18,478 18,478 — — Derivatives, index options 194,731 — — 194,731 Total assets $ 3,254,340 18,478 3,041,131 194,731 Policyholder account balances (a) $ 211,159 — — 211,159 Other liabilities (b) 15,242 — — 15,242 Total liabilities $ 226,401 — — 226,401 (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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,980,103 — 2,980,103 — Priced internally — — — — Subtotal 2,980,103 — 2,980,103 — Equity securities: Priced by third-party vendors 18,637 18,637 — — Priced internally — — — — Subtotal 18,637 18,637 — — Derivatives, index options: Priced by third-party vendors 102,007 — — 102,007 Priced internally — — — — Subtotal 102,007 — — 102,007 Total $ 3,100,747 18,637 2,980,103 102,007 Percent of total 100.0 % 0.6 % 96.1 % 3.3 % December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,041,131 — 3,041,131 — Priced internally — — — — Subtotal 3,041,131 — 3,041,131 — Equity securities, available for sale: Priced by third-party vendors 18,478 18,478 — — Priced internally — — — — Subtotal 18,478 18,478 — — Derivatives, index options: Priced by third-party vendors 194,731 — — 194,731 Priced internally — — — — Subtotal 194,731 — — 194,731 Total $ 3,254,340 18,478 3,041,131 194,731 Percent of total 100.0 % 0.6 % 93.4 % 6.0 % The following tables provide additional information about fair value measurements for which significant unobservable (Level 3) inputs were utilized to determine fair value. Three Months Ended June 30, 2018 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2018 $ — — 116,356 116,356 147,502 Total realized and unrealized gains (losses): Included in net income — — 10,292 10,292 10,608 Purchases, sales, issuances and settlements, net: Purchases — — 21,901 21,901 21,901 Sales — — — — — Issuances — — — — — Settlements — — (46,542 ) (46,542 ) (46,998 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 102,007 102,007 133,013 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 $ — — 20,610 20,610 — Benefits and expenses — — — — 21,861 Total $ — — 20,610 20,610 21,861 Three Months Ended June 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2017 $ — — 149,848 149,848 167,008 Total realized and unrealized gains (losses): Included in net income — — 32,216 32,216 39,466 Purchases, sales, issuances and settlements, net: Purchases — — 18,937 18,937 18,938 Sales — — — — — Issuances — — — — 515 Settlements — — (51,660 ) (51,660 ) (52,571 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 149,341 149,341 173,356 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 $ — — 12,559 12,559 — Benefits and expenses — — — — 15,423 Total $ — — 12,559 12,559 15,423 Six Months Ended June 30, 2018 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2018 $ — — 194,731 194,731 226,401 Total realized and unrealized gains (losses): Included in net income — — (34,102 ) (34,102 ) (32,820 ) Purchases, sales, issuances and settlements, net: Purchases — — 44,277 44,277 44,277 Sales — — — — — Issuances — — — — — Settlements — — (102,899 ) (102,899 ) (104,845 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 102,007 102,007 133,013 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 $ — — (23,727 ) (23,727 ) — Other operating expenses — — — — (23,019 ) Total $ — — (23,727 ) (23,727 ) (23,019 ) Six Months Ended June 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 — — 93,422 93,422 103,642 Purchases, sales, issuances and settlements, net: Purchases — — 35,379 35,379 35,379 Sales — — — — — Issuances — — — — 744 Settlements — — (100,104 ) (100,104 ) (101,102 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 149,341 149,341 173,356 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 $ — — 67,104 67,104 — Other operating expenses — — — — 70,519 Total $ — — 67,104 67,104 70,519 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: June 30, 2018 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 102,007 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 102,007 Policyholder account balances $ 119,009 Deterministic cash flow model Projected option cost Other liabilities 14,004 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 133,013 December 31, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 194,731 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 194,731 Policyholder account balances $ 211,159 Deterministic cash flow model Projected option cost Other liabilities 15,242 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 226,401 Realized gains (losses) on debt 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 securities are reported as other comprehensive income (loss) within the stockholders' equity section of the Condensed Consolidated Balance Sheet. Effective January 1, 2018, the change in fair value of equity securities is reported in the Condensed Consolidated Statement of Earnings as net investment income. 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: June 30, 2018 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,315,947 7,261,763 — 7,259,838 1,925 Debt securities available for sale 2,980,103 2,980,103 — 2,980,103 — Cash and cash equivalents 126,519 126,519 126,519 — — Mortgage loans 196,752 197,333 — — 197,333 Policy loans 55,603 92,451 — — 92,451 Other loans 3,969 4,152 — — 4,152 Derivatives, index options 102,007 102,007 — — 102,007 Equity securities 18,637 18,637 18,637 — — Life interest in Trust 8,676 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,684,170 7,188,821 — — 7,188,821 Immediate annuity and supplemental contracts 422,285 427,250 — — 427,250 December 31, 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 $ 7,247,024 7,434,104 — 7,431,810 2,294 Securities available for sale 3,059,609 3,059,609 18,478 3,041,131 — Cash and cash equivalents 217,624 217,624 217,624 — — Mortgage loans 208,249 208,815 — — 208,815 Policy loans 56,405 100,230 — — 100,230 Other loans 5,431 5,603 — — 5,603 Derivatives, index options 194,731 194,731 — — 194,731 Life interest in Trust 8,676 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,865,786 7,338,637 — — 7,338,637 Immediate annuity and supplemental contracts 430,494 443,437 — — 443,437 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	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 , respectively. June 30, 2018 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 $ 102,007 Fixed-index products Universal Life and Annuity Contracts $ 119,009 Total $ 102,007 $ 119,009 December 31, 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 $ 194,731 Fixed-index products Universal Life and Annuity Contracts $ 211,159 Total $ 194,731 $ 211,159 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended June 30, 2018 and 2017 . June 30, June 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 $ 10,292 32,215 Fixed-index products Universal life and annuity contract interest (9,357 ) (36,422 ) $ 935 (4,207 ) The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the six months ended June 30, 2018 and 2017 . June 30, June 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 $ (34,102 ) 93,421 Fixed-index products Universal life and annuity contract interest 33,528 (100,046 ) $ (574 ) (6,625 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Subsequent events have been evaluated through the date of filing and no reportable items were identified.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements	Recent accounting pronouncements not yet adopted In June 2016, the FASB released Accounting Standards Update ("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. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. 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. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. 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. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. In June 2018, the FASB released ASU 2018-07 Compensation - Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting . This update largely aligns the accounting for share-based payment awards issued to employees and nonemployees. Previously, nonemployee stock compensation was accounted for under Subtopic 505-50 but will now fall under Topic 718. Changes to the accounting for nonemployee awards include 1) measurement based on fair value of the equity instrument at grant date, rather than previous requirement to measure based on the more reliable option of the fair value of the consideration or the fair value of the equity instrument, 2) initial measurement at grant date, rather than the earlier of the date at which commitment for performance is reached or performance is complete, and 3) when performance conditions are present, the probability of satisfying performance conditions should be considered in measurement rather than the previous requirement to measure at the lowest aggregate fair value. The amendments in the new guidance are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal period. The Company does not expect a material effect on the results of operations or financial position with the adoption of this ASU. Recent accounting pronouncements adopted In January 2018, the Company adopted ASU 2017-07 Compensation-Retirement Benefits (Topic 615): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The new guidance requires that an employer that offers to its employees defined benefit pension or other postretirement benefit plans report the service cost component in the same line item or items as other compensation costs. The other components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item is not used, the line item used in the income statement to present the other components of net periodic benefit cost must be disclosed. In addition, the guidance allows only the service cost component to be eligible for capitalization when applicable. The adoption of the guidance did not have a material impact on the Company’s consolidated financial statements. In February 2018, the FASB released ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The update addresses certain stranded income tax effects in accumulated other comprehensive income caused by the Tax Cuts and Job Act ("Tax Act") which was passed in December 2017. Under the new FASB rules, financial statement preparers are provided the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recorded. Companies must apply the new guidance for fiscal years, including interim periods within such years, starting after December 15, 2018, with early adoption permitted. The amendments are to be applied in either the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the federal corporate income tax rate from the Tax Act is recognized. The Company's accounting policy for the release of stranded tax effects in AOCI is on an aggregate portfolio basis. The Company elected to adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2017 and has reported the resultant reclassification amount, $2.5 million , as a charge to Retained Earnings in the accompanying Consolidated Statements of Changes in Stockholders' Equity. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The guidance requires companies to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. As an insurance enterprise, the primary sources of revenue are excluded from this guidance, including insurance premiums, contract charges, and investment revenues. We have certain types of non-insurance and non-investment revenue from contracts with customers that fall under this guidance. These revenues are recognized when obligations under the terms of the contract are satisfied. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for those services. For these revenues, the performance obligation is fulfilled as services are rendered. Revenues from contracts with customers identified under Topic 606 are not material, approximately 2% of total revenues for the year ended December 31, 2017. The guidance was effective for reporting periods beginning after December 15, 2017. The adoption of this ASU did not have a material effect on the results of operations or financial position of the Company. In January 2016, the FASB released ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities . The main provisions of the update 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 require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value be recorded as adjustments directly to the income statement. The provisions of this update became effective for the Company beginning January 1, 2018. The prospective adoption of this update resulted in the reclassification of $4.4 million pertaining to unrealized gains, net of tax, out of Accumulated Other Comprehensive Income into Retained Earnings as a cumulative effect of a change in accounting principle, as shown in the Condensed Consolidated Statements of Changes in Stockholders' Equity. Equity securities, previously included in Securities Available for Sale are now reported as a separate line item on the Consolidated Balance Sheet. The change in fair value of equity securities, previously reported in Other Comprehensive income, is now included in net investment income in the Condensed Consolidated Statements of Earnings. As the Company's equity securities holdings are not significant, the adoption of the requirements of this update did not have a material impact on the Company’s financial position, results of operations or cash flows. 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 became effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. The adoption of this ASU did not have a material effect on the results of operations or financial position of the Company. 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)	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 and June 30, 2017 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Other net investment gains (losses) $ 1,981 1,644 2,021 2,705 Net OTTI losses recognized in earnings — — — — Earnings before Federal income taxes 1,981 1,644 2,021 2,705 Federal income taxes 417 576 424 947 Net earnings $ 1,564 1,068 1,597 1,758

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of earnings per share	Three Months Ended June 30, 2018 2017 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 32,466 25,483 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 32,466 25,483 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 31,548 918 24,762 721 Net income $ 31,548 918 24,762 721 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 $ 9.18 4.59 7.21 3.60 Diluted Earnings Per Share $ 9.18 4.59 7.21 3.60 Six Months Ended June 30, 2018 2017 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 59,341 49,021 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 59,341 49,021 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 57,663 1,678 47,635 1,386 Net income $ 57,663 1,678 47,635 1,386 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 $ 16.78 8.39 13.86 6.93 Diluted Earnings Per Share $ 16.78 8.39 13.86 6.93

Pension and Other Postretirem23

Pension and Other Postretirement Plans (Tables)	6 Months Ended
	Jun. 30, 2018
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 Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Service cost $ 28 27 56 54 Interest cost 225 239 450 478 Expected return on plan assets (325 ) (307 ) (650 ) (614 ) Amortization of prior service cost — — — — Amortization of net loss 131 159 262 318 Net periodic benefit cost $ 59 118 118 236
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 non-qualified defined benefit plans. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Service cost $ 90 204 180 408 Interest cost 213 347 426 694 Amortization of prior service cost 15 15 30 30 Amortization of net loss 176 819 352 1,637 Net periodic benefit cost $ 494 1,385 988 2,769
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 Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Interest cost $ 40 39 80 69 Amortization of prior service cost 26 26 52 52 Amortization of net loss 38 21 75 21 Net periodic benefit cost $ 104 86 207 142

Segment and Other Operating I24

Segment and Other Operating Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Summary of segment information, by quarter	A summary of segment information as of June 30, 2018 and December 31, 2017 for the Condensed Consolidated Balance Sheet items and for the three and six months ended June 30, 2018 and June 30, 2017 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: June 30, 2018 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 112,975 248,621 625,716 — 987,312 Total segment assets 1,173,465 1,227,200 9,086,354 381,620 11,868,639 Future policy benefits 1,004,473 901,729 8,047,777 — 9,953,979 Other policyholder liabilities 12,561 20,453 100,330 — 133,344 December 31, 2017 Domestic International Annuities All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 101,253 250,128 603,700 — 955,081 Total segment assets 1,106,410 1,236,733 9,269,956 398,597 12,011,696 Future policy benefits 950,884 915,384 8,232,216 — 10,098,484 Other policyholder liabilities 13,643 11,318 103,048 — 128,009 Condensed Consolidated Statement of Earnings: Three Months Ended June 30, 2018 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 10,114 27,461 7,298 — 44,873 Net investment income 13,556 10,603 86,915 10,728 121,802 Other revenues — 4 18 5,265 5,287 Total revenues 23,670 38,068 94,231 15,993 171,962 Life and other policy benefits 5,103 4,534 7,824 — 17,461 Amortization of deferred policy acquisition costs 2,709 7,336 21,024 — 31,069 Universal life and annuity contract interest 9,907 7,600 43,483 — 60,990 Other operating expenses 5,006 5,628 9,085 5,076 24,795 Federal income taxes (benefit) 185 2,516 2,478 2,132 7,311 Total expenses 22,910 27,614 83,894 7,208 141,626 Segment earnings (loss) $ 760 10,454 10,337 8,785 30,336 Six Months Ended June 30, 2018 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 19,715 55,378 12,445 — 87,538 Net investment income 14,219 12,574 140,458 15,296 182,547 Other revenues — 34 37 10,213 10,284 Total revenues 33,934 67,986 152,940 25,509 280,369 Life and other policy benefits 9,912 10,262 18,688 — 38,862 Amortization of deferred acquisition costs 5,384 14,716 43,198 — 63,298 Universal life and annuity contract interest 7,046 6,450 45,676 — 59,172 Other operating expenses 10,153 11,009 17,020 10,246 48,428 Federal income taxes (benefit) 283 5,023 5,576 2,999 13,881 Total expenses 32,778 47,460 130,158 13,245 223,641 Segment earnings (loss) $ 1,156 20,526 22,782 12,264 56,728 Three Months Ended June 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 9,066 29,710 6,054 — 44,830 Net investment income 15,023 14,251 105,474 7,864 142,612 Other revenues 6 21 38 4,472 4,537 Total revenues 24,095 43,982 111,566 12,336 191,979 Life and other policy benefits 5,448 4,677 7,729 — 17,854 Amortization of deferred acquisition costs 2,994 6,305 23,759 — 33,058 Universal life and annuity contract interest 11,210 11,377 59,583 — 82,170 Other operating expenses 5,157 7,207 9,814 4,165 26,343 Federal income taxes (benefit) (242 ) 4,928 3,656 2,790 11,132 Total expenses 24,567 34,494 104,541 6,955 170,557 Segment earnings (loss) $ (472 ) 9,488 7,025 5,381 21,422 Six Months Ended June 30, 2017 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Premiums and contract revenues $ 17,915 61,210 11,290 — 90,415 Net investment income 34,613 32,870 231,908 14,963 314,354 Other revenues 19 47 64 8,912 9,042 Total revenues 52,547 94,127 243,262 23,875 413,811 Life and other policy benefits 10,367 10,962 16,282 — 37,611 Amortization of deferred acquisition costs 5,783 13,711 47,776 — 67,270 Universal life and annuity contract interest 27,457 27,759 136,847 — 192,063 Other operating expenses 9,889 13,185 19,874 8,487 51,435 Federal income taxes (benefit) (321 ) 9,652 7,612 5,209 22,152 Total expenses 53,175 75,269 228,391 13,696 370,531 Segment earnings (loss) $ (628 ) 18,858 14,871 10,179 43,280
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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 44,873 44,830 87,538 90,415 Net investment income 121,802 142,612 182,547 314,354 Other revenues 5,287 4,537 10,284 9,042 Realized gains (losses) on investments 2,696 6,247 3,307 8,832 Total condensed consolidated premiums and other revenues $ 174,658 198,226 283,676 422,643
Reconciliation of segment federal income taxes to condensed consolidated financial statements	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 7,311 11,132 13,881 22,152 Taxes on realized gains (losses) on investments 566 2,186 694 3,091 Total condensed consolidated Federal income taxes $ 7,877 13,318 14,575 25,243
Reconciliation of segment net earnings to condensed consolidated financial statements	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Net Earnings : Total segment earnings $ 30,336 21,422 56,728 43,280 Realized gains (losses) on investments, net of taxes 2,130 4,061 2,613 5,741 Total condensed consolidated net earnings $ 32,466 25,483 59,341 49,021
Reconciliation of segment assets to condensed consolidated financial statements	June 30, December 31, 2018 2017 (In thousands) Assets : Total segment assets $ 11,868,639 12,011,696 Other unallocated assets 217,180 213,398 Total condensed consolidated assets $ 12,085,819 12,225,094

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 and 2017 . These grants were made based upon closing market price per Class A common share at the time of the grant. Three Months Ended June 30, 2018 June 30, 2017 Officer Director Officer Director SARs — — 203 — RSUs — — 51 — PSUs — — 101 — Six Months Ended June 30, 2018 June 30, 2017 Officer Director Officer Director SARs — — 11,715 — RSUs — — 2,725 1,660 PSUs — — 4,526 — A summary of awards by type and related activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2018 291,000 18,018 $ 242.07 Exercised — (18,018 ) $ 242.07 Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at June 30, 2018 291,000 — $ —
Schedule of activity	Liability Awards SAR RSU PSU Other Share/Unit Awards: Balance at January 1, 2018 92,667 11,721 14,052 Exercised (1,328 ) (1,494 ) — Forfeited (1,442 ) (419 ) — Granted — — — Balance at June 30, 2018 89,897 9,808 14,052
Summary of information about stock options and SARs outstanding	The following table summarizes information about SARs outstanding at June 30, 2018 . There were no options outstanding as of June 30, 2018. SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: 114.64 (SARs) 10,900 0.6 years 10,900 132.56 (SARs) 20,018 3.5 years 16,115 210.22 (SARs) 26,100 5.5 years 11,600 216.48 (SARs) 11,853 7.6 years 7,717 311.16 (SARs) 10,665 8.6 years 3,572 310.55 (SARs) 203 8.8 years 67 334.34 (SARs) 10,158 9.5 years — Totals 89,897 49,971 Aggregate intrinsic value (in thousands) $ 9,205 $ 6,741
Summary of assumptions employed using Black-Scholes option pricing model	In estimating the fair value of the share-based awards outstanding at June 30, 2018 and December 31, 2017 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. June 30, December 31, Expected term of options 0.6 to 9.5 years 0.3 to 10.0 years Expected volatility weighted-average 21.67 % 21.55 % Expected dividend yield 0.12 % 0.11 % Risk-free rate weighted-average 2.44 % 1.82 %

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Realized investment gains and losses, excluding impairment losses	The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Available for sale debt securities: Realized gains on disposal $ 1,981 1,635 2,021 2,608 Realized losses on disposal — — — — Held to maturity debt securities: Realized gains on disposal 734 1,982 1,305 3,539 Realized losses on disposal (19 ) (35 ) (19 ) (69 ) Equity securities realized gains (losses) — 8 — 97 Real estate gains (losses) — 2,657 — 2,657 Totals $ 2,696 6,247 3,307 8,832
Net impairment losses recognized in earnings	The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 3 23 6 43 Portion of loss (gain) recognized in comprehensive income (3 ) (23 ) (6 ) (43 ) Net impairment losses on debt securities recognized in earnings — — — — Equity securities impairments — — — — Totals $ — — — —
Credit losses on securities, also recorded 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 June 30, 2018 Six Months Ended June 30, 2018 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 1,440 Reductions for securities sold during current period — — (813 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — — Ending balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 627
Schedule of held-to-maturity securities	The table below presents amortized costs and fair values of debt securities held to maturity at June 30, 2018 . Debt Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,340 131 — 1,471 States and political subdivisions 458,068 11,540 (1,705 ) 467,903 Public utilities 995,587 9,316 (14,698 ) 990,205 Corporate 4,633,657 34,043 (84,964 ) 4,582,736 Residential mortgage-backed 1,222,714 11,955 (19,905 ) 1,214,764 Home equity 3,774 55 (9 ) 3,820 Manufactured housing 807 57 — 864 Totals $ 7,315,947 67,097 (121,281 ) 7,261,763 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2017 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,337 177 — 1,514 States and political subdivisions 467,437 21,907 (100 ) 489,244 Public utilities 1,062,545 30,527 (894 ) 1,092,178 Corporate 4,430,099 121,978 (7,876 ) 4,544,201 Residential mortgage-backed 1,280,307 27,445 (6,216 ) 1,301,536 Home equity 4,262 57 (4 ) 4,315 Manufactured housing 1,037 79 — 1,116 Totals $ 7,247,024 202,170 (15,090 ) 7,434,104
Schedule of available-for-sale securities	The table below presents amortized costs and fair values of debt securities available for sale at June 30, 2018 . As indicated in Note (2) New Accounting Pronouncements, effective January 1, 2018, equity securities are no longer included in the Securities Available for Sale category. Debt Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 572 — (5 ) 567 Foreign governments 9,969 11 — 9,980 Public utilities 86,452 1,553 (451 ) 87,554 Corporate 2,900,354 22,050 (66,395 ) 2,856,009 Residential mortgage-backed 17,809 965 (47 ) 18,727 Home equity 6,950 317 (1 ) 7,266 Totals $ 3,022,106 24,896 (66,899 ) 2,980,103 The table below presents amortized costs and fair values of securities available for sale at December 31, 2017 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 575 — (29 ) 546 Foreign governments 9,964 326 — 10,290 Public utilities 83,466 3,640 — 87,106 Corporate 2,842,381 81,737 (10,744 ) 2,913,374 Residential mortgage-backed 20,246 1,376 (52 ) 21,570 Home equity 7,878 367 — 8,245 Manufactured housing — — — — 2,964,510 87,446 (10,825 ) 3,041,131 Equity securities 12,890 5,708 (120 ) 18,478 Totals $ 2,977,400 93,154 (10,945 ) 3,059,609
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, 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 $ 6,308 (14 ) 4,869 (86 ) 11,177 (100 ) Public utilities 68,368 (407 ) 34,091 (487 ) 102,459 (894 ) Corporate 248,844 (1,296 ) 431,591 (6,580 ) 680,435 (7,876 ) Residential mortgage-backed 130,015 (738 ) 192,399 (5,478 ) 322,414 (6,216 ) Home equity 2,830 (4 ) — — 2,830 (4 ) Total temporarily impaired securities $ 456,365 (2,459 ) 662,950 (12,631 ) 1,119,315 (15,090 ) The following table shows the gross unrealized losses and fair values of the Company's held to maturity debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 . Debt 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 $ 74,632 (1,521 ) 4,771 (184 ) 79,403 (1,705 ) Public utilities 502,654 (12,539 ) 32,424 (2,159 ) 535,078 (14,698 ) Corporate 2,325,956 (61,863 ) 415,757 (23,101 ) 2,741,713 (84,964 ) Residential mortgage-backed 516,969 (9,169 ) 187,182 (10,736 ) 704,151 (19,905 ) Home equity 2,448 (9 ) — — 2,448 (9 ) Total temporarily impaired securities $ 3,422,659 (85,101 ) 640,134 (36,180 ) 4,062,793 (121,281 )
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, 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 $ 546 (29 ) — — 546 (29 ) Corporate 201,575 (1,134 ) 296,845 (9,610 ) 498,420 (10,744 ) Residential mortgage-backed 1,325 (14 ) 1,085 (38 ) 2,410 (52 ) Home equity 1,653 — — — 1,653 — 205,099 (1,177 ) 297,930 (9,648 ) 503,029 (10,825 ) Equity securities 1,246 (77 ) 289 (43 ) 1,535 (120 ) Total temporarily impaired securities $ 206,345 (1,254 ) 298,219 (9,691 ) 504,564 (10,945 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2018 . Debt 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 $ 567 (5 ) — — 567 (5 ) Public utilities 23,517 (451 ) — — 23,517 (451 ) Corporate 1,550,888 (44,655 ) 304,263 (21,740 ) 1,855,151 (66,395 ) Residential mortgage-backed — — 979 (47 ) 979 (47 ) Home equity 1,371 (1 ) — — 1,371 (1 ) Total temporarily impaired securities $ 1,576,343 (45,112 ) 305,242 (21,787 ) 1,881,585 (66,899 )
Schedule of mortgage loans by loan-to-value ratio	The following table represents the mortgage loan portfolio by loan-to-value ratio. June 30, 2018 December 31, 2017 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 74,261 37.6 $ 82,224 39.4 50% to 60% 15,485 7.9 27,395 13.1 60% to 70% 95,430 48.3 86,849 41.6 70% to 80% 6,787 3.4 — — 80% to 90% 5,439 2.8 6,929 3.3 Greater than 90% — — 5,502 2.6 Gross balance 197,402 100.0 208,899 100.0 Allowance for possible losses (650 ) (0.3 ) (650 ) (0.3 ) Totals $ 196,752 99.7 $ 208,249 99.7 (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 for the periods shown. June 30, 2018 December 31, 2017 (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 June 30, 2018 , 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 $ 72,468 74,135 268,904 274,043 Due after 1 year through 5 years 1,220,280 1,229,091 2,652,956 2,661,600 Due after 5 years through 10 years 1,636,845 1,585,446 2,771,865 2,706,537 Due after 10 years 67,754 65,438 394,927 400,135 2,997,347 2,954,110 6,088,652 6,042,315 Mortgage and asset-backed securities 24,759 25,993 1,227,295 1,219,448 Total $ 3,022,106 2,980,103 7,315,947 7,261,763

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities that are measured at fair value on a 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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,980,103 — 2,980,103 — Equity securities 18,637 18,637 — — Derivatives, index options 102,007 — — 102,007 Total assets $ 3,100,747 18,637 2,980,103 102,007 Policyholder account balances (a) $ 119,009 — — 119,009 Other liabilities (b) 14,004 — — 14,004 Total liabilities $ 133,013 — — 133,013 During the three and six months ended June 30, 2018 , the Company made no transfers into or out of Levels 1, 2 or 3. December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,041,131 — 3,041,131 — Equity securities, available for sale 18,478 18,478 — — Derivatives, index options 194,731 — — 194,731 Total assets $ 3,254,340 18,478 3,041,131 194,731 Policyholder account balances (a) $ 211,159 — — 211,159 Other liabilities (b) 15,242 — — 15,242 Total liabilities $ 226,401 — — 226,401 (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 by pricing source and fair value hierarchy level	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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,980,103 — 2,980,103 — Priced internally — — — — Subtotal 2,980,103 — 2,980,103 — Equity securities: Priced by third-party vendors 18,637 18,637 — — Priced internally — — — — Subtotal 18,637 18,637 — — Derivatives, index options: Priced by third-party vendors 102,007 — — 102,007 Priced internally — — — — Subtotal 102,007 — — 102,007 Total $ 3,100,747 18,637 2,980,103 102,007 Percent of total 100.0 % 0.6 % 96.1 % 3.3 % December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,041,131 — 3,041,131 — Priced internally — — — — Subtotal 3,041,131 — 3,041,131 — Equity securities, available for sale: Priced by third-party vendors 18,478 18,478 — — Priced internally — — — — Subtotal 18,478 18,478 — — Derivatives, index options: Priced by third-party vendors 194,731 — — 194,731 Priced internally — — — — Subtotal 194,731 — — 194,731 Total $ 3,254,340 18,478 3,041,131 194,731 Percent of total 100.0 % 0.6 % 93.4 % 6.0 %
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. Three Months Ended June 30, 2018 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2018 $ — — 116,356 116,356 147,502 Total realized and unrealized gains (losses): Included in net income — — 10,292 10,292 10,608 Purchases, sales, issuances and settlements, net: Purchases — — 21,901 21,901 21,901 Sales — — — — — Issuances — — — — — Settlements — — (46,542 ) (46,542 ) (46,998 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 102,007 102,007 133,013 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 $ — — 20,610 20,610 — Benefits and expenses — — — — 21,861 Total $ — — 20,610 20,610 21,861 Three Months Ended June 30, 2017 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2017 $ — — 149,848 149,848 167,008 Total realized and unrealized gains (losses): Included in net income — — 32,216 32,216 39,466 Purchases, sales, issuances and settlements, net: Purchases — — 18,937 18,937 18,938 Sales — — — — — Issuances — — — — 515 Settlements — — (51,660 ) (51,660 ) (52,571 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 149,341 149,341 173,356 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 $ — — 12,559 12,559 — Benefits and expenses — — — — 15,423 Total $ — — 12,559 12,559 15,423 Six Months Ended June 30, 2018 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2018 $ — — 194,731 194,731 226,401 Total realized and unrealized gains (losses): Included in net income — — (34,102 ) (34,102 ) (32,820 ) Purchases, sales, issuances and settlements, net: Purchases — — 44,277 44,277 44,277 Sales — — — — — Issuances — — — — — Settlements — — (102,899 ) (102,899 ) (104,845 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 102,007 102,007 133,013 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 $ — — (23,727 ) (23,727 ) — Other operating expenses — — — — (23,019 ) Total $ — — (23,727 ) (23,727 ) (23,019 ) Six Months Ended June 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 — — 93,422 93,422 103,642 Purchases, sales, issuances and settlements, net: Purchases — — 35,379 35,379 35,379 Sales — — — — — Issuances — — — — 744 Settlements — — (100,104 ) (100,104 ) (101,102 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 149,341 149,341 173,356 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 $ — — 67,104 67,104 — Other operating expenses — — — — 70,519 Total $ — — 67,104 67,104 70,519
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: June 30, 2018 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 102,007 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 102,007 Policyholder account balances $ 119,009 Deterministic cash flow model Projected option cost Other liabilities 14,004 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 133,013 December 31, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 194,731 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 194,731 Policyholder account balances $ 211,159 Deterministic cash flow model Projected option cost Other liabilities 15,242 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 226,401 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: June 30, 2018 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 102,007 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 102,007 Policyholder account balances $ 119,009 Deterministic cash flow model Projected option cost Other liabilities 14,004 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 133,013 December 31, 2017 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 194,731 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 194,731 Policyholder account balances $ 211,159 Deterministic cash flow model Projected option cost Other liabilities 15,242 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 226,401
Schedule of carrying amounts and fair values of the Company's financial instruments	The carrying amounts and fair values of the Company's financial instruments are as follows: June 30, 2018 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,315,947 7,261,763 — 7,259,838 1,925 Debt securities available for sale 2,980,103 2,980,103 — 2,980,103 — Cash and cash equivalents 126,519 126,519 126,519 — — Mortgage loans 196,752 197,333 — — 197,333 Policy loans 55,603 92,451 — — 92,451 Other loans 3,969 4,152 — — 4,152 Derivatives, index options 102,007 102,007 — — 102,007 Equity securities 18,637 18,637 18,637 — — Life interest in Trust 8,676 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,684,170 7,188,821 — — 7,188,821 Immediate annuity and supplemental contracts 422,285 427,250 — — 427,250 December 31, 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 $ 7,247,024 7,434,104 — 7,431,810 2,294 Securities available for sale 3,059,609 3,059,609 18,478 3,041,131 — Cash and cash equivalents 217,624 217,624 217,624 — — Mortgage loans 208,249 208,815 — — 208,815 Policy loans 56,405 100,230 — — 100,230 Other loans 5,431 5,603 — — 5,603 Derivatives, index options 194,731 194,731 — — 194,731 Life interest in Trust 8,676 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,865,786 7,338,637 — — 7,338,637 Immediate annuity and supplemental contracts 430,494 443,437 — — 443,437

Derivative Investments (Tables)

Derivative Investments (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 , respectively. June 30, 2018 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 $ 102,007 Fixed-index products Universal Life and Annuity Contracts $ 119,009 Total $ 102,007 $ 119,009 December 31, 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 $ 194,731 Fixed-index products Universal Life and Annuity Contracts $ 211,159 Total $ 194,731 $ 211,159
Schedule of derivative instruments in the 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 June 30, 2018 and 2017 . June 30, June 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 $ 10,292 32,215 Fixed-index products Universal life and annuity contract interest (9,357 ) (36,422 ) $ 935 (4,207 ) The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the six months ended June 30, 2018 and 2017 . June 30, June 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 $ (34,102 ) 93,421 Fixed-index products Universal life and annuity contract interest 33,528 (100,046 ) $ (574 ) (6,625 )

Consolidation and Basis of Pr29

Consolidation and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other net investment gains (losses)	$ 2,696	$ 6,247	$ 3,307	$ 8,832
Net OTTI losses recognized in earnings	0	0	0	0
Earnings before Federal income taxes	40,343	38,801	73,916	74,264
Federal income taxes	7,877	13,318	14,575	25,243
Net earnings	32,466	25,483	59,341	49,021
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)	1,981	1,644	2,021	2,705
Net OTTI losses recognized in earnings	0	0	0	0
Earnings before Federal income taxes	1,981	1,644	2,021	2,705
Federal income taxes	417	576	424	947
Net earnings	$ 1,564	$ 1,068	$ 1,597	$ 1,758

New Accounting Pronouncements30

New Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of total revenue, percentage	2.00%
Accumulated other comprehensive income | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle, net of tax (See Note 2)	$ (4,400)
Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification as a charge to retained earnings	2,500
Cumulative effect of change in accounting principle, net of tax (See Note 2)	4,414	$ 0
Retained earnings | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle, net of tax (See Note 2)	$ 4,400

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Dividends Payable [Line Items]
Dividends declared and paid			$ 0	$ 0
National Western
Dividends Payable [Line Items]
Maximum dividend payment which may be paid without prior approval from Colorado Division of Insurance			$ 127,300,000
Dividends declared and paid	$ 3,000,000	$ 4,000,000

Earnings Per Share (EPS Calcula

Earnings Per Share (EPS Calculation) (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 32,466,000	$ 25,483,000	$ 59,341,000	$ 49,021,000
Dividends			0	0
Undistributed income	32,466,000	25,483,000	59,341,000	49,021,000
Allocation of net income:
Dividends			0	0
Allocation of undistributed income	32,466,000	25,483,000	59,341,000	49,021,000
Net earnings	32,466,000	25,483,000	59,341,000	49,021,000
Class A
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	31,548,000	24,762,000	57,663,000	47,635,000
Dividends	0	0	0	0
Undistributed income	31,548,000	24,762,000	57,663,000	47,635,000
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	31,548,000	24,762,000	57,663,000	47,635,000
Net earnings	$ 31,548,000	$ 24,762,000	$ 57,663,000	$ 47,635,000
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)	$ 9.18	$ 7.21	$ 16.78	$ 13.86
Diluted Earnings Per Share (in dollars per share)	$ 9.18	$ 7.21	$ 16.78	$ 13.86
Class B
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 918,000	$ 721,000	$ 1,678,000	$ 1,386,000
Dividends	0	0	0	0
Undistributed income	918,000	721,000	1,678,000	1,386,000
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	918,000	721,000	1,678,000	1,386,000
Net earnings	$ 918,000	$ 721,000	$ 1,678,000	$ 1,386,000
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)	$ 4.59	$ 3.60	$ 8.39	$ 6.93
Diluted Earnings Per Share (in dollars per share)	$ 4.59	$ 3.60	$ 8.39	$ 6.93

Pension and Other Postretirem33

Pension and Other Postretirement Plans (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)benefit_plan	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)benefit_plan	Jun. 30, 2017USD ($)	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	$ 28,000	$ 27,000	$ 56,000	$ 54,000
Interest cost	225,000	239,000	450,000	478,000
Expected return on plan assets	(325,000)	(307,000)	(650,000)	(614,000)
Amortization of prior service cost	0	0	0	0
Amortization of net loss	131,000	159,000	262,000	318,000
Net periodic benefit cost	59,000	118,000	118,000	236,000
Minimum required contribution	100,000		100,000
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	90,000	204,000	180,000	408,000
Interest cost	213,000	347,000	426,000	694,000
Amortization of prior service cost	15,000	15,000	30,000	30,000
Amortization of net loss	176,000	819,000	352,000	1,637,000
Net periodic benefit cost	494,000	1,385,000	988,000	2,769,000
Company contributions to plan			900,000
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	40,000	39,000	80,000	69,000
Amortization of prior service cost	26,000	26,000	52,000	52,000
Amortization of net loss	38,000	21,000	75,000	21,000
Net periodic benefit cost	$ 104,000	$ 86,000	$ 207,000	$ 142,000
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 I34

Segment and Other Operating Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 12,085,819		$ 12,085,819		$ 12,225,094
Other policyholder liabilities	133,344		133,344		128,009
Condensed Consolidated Income Statements:
Premiums and contract revenues	44,873	$ 44,830	87,538	$ 90,415
Net investment income	121,802	142,612	182,547	314,354
Other revenues	5,287	4,537	10,284	9,042
Realized gains (losses) on investments	2,696	6,247	3,307	8,832
Total revenues	174,658	198,226	283,676	422,643
Life and other policy benefits	17,461	17,854	38,862	37,611
Amortization of deferred acquisition costs	31,069	33,058	63,298	67,270
Universal life and annuity contract interest	60,990	82,170	59,172	192,063
Other operating expenses	24,795	26,343	48,428	51,435
Total condensed consolidated Federal income taxes	7,877	13,318	14,575	25,243
Net earnings	32,466	25,483	59,341	49,021
Segments
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	987,312		987,312		955,081
Total segment assets	11,868,639		11,868,639		12,011,696
Future policy benefits	9,953,979		9,953,979		10,098,484
Other policyholder liabilities	133,344		133,344		128,009
Condensed Consolidated Income Statements:
Premiums and contract revenues	44,873	44,830	87,538	90,415
Net investment income	121,802	142,612	182,547	314,354
Other revenues	5,287	4,537	10,284	9,042
Total revenues	171,962	191,979	280,369	413,811
Life and other policy benefits	17,461	17,854	38,862	37,611
Amortization of deferred acquisition costs	31,069	33,058	63,298	67,270
Universal life and annuity contract interest	60,990	82,170	59,172	192,063
Other operating expenses	24,795	26,343	48,428	51,435
Total condensed consolidated Federal income taxes	7,311	11,132	13,881	22,152
Total expenses	141,626	170,557	223,641	370,531
Net earnings	30,336	21,422	56,728	43,280
Segments | Domestic Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	112,975		112,975		101,253
Total segment assets	1,173,465		1,173,465		1,106,410
Future policy benefits	1,004,473		1,004,473		950,884
Other policyholder liabilities	12,561		12,561		13,643
Condensed Consolidated Income Statements:
Premiums and contract revenues	10,114	9,066	19,715	17,915
Net investment income	13,556	15,023	14,219	34,613
Other revenues	0	6	0	19
Total revenues	23,670	24,095	33,934	52,547
Life and other policy benefits	5,103	5,448	9,912	10,367
Amortization of deferred acquisition costs	2,709	2,994	5,384	5,783
Universal life and annuity contract interest	9,907	11,210	7,046	27,457
Other operating expenses	5,006	5,157	10,153	9,889
Total condensed consolidated Federal income taxes	185	(242)	283	(321)
Total expenses	22,910	24,567	32,778	53,175
Net earnings	760	(472)	1,156	(628)
Segments | International Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	248,621		248,621		250,128
Total segment assets	1,227,200		1,227,200		1,236,733
Future policy benefits	901,729		901,729		915,384
Other policyholder liabilities	20,453		20,453		11,318
Condensed Consolidated Income Statements:
Premiums and contract revenues	27,461	29,710	55,378	61,210
Net investment income	10,603	14,251	12,574	32,870
Other revenues	4	21	34	47
Total revenues	38,068	43,982	67,986	94,127
Life and other policy benefits	4,534	4,677	10,262	10,962
Amortization of deferred acquisition costs	7,336	6,305	14,716	13,711
Universal life and annuity contract interest	7,600	11,377	6,450	27,759
Other operating expenses	5,628	7,207	11,009	13,185
Total condensed consolidated Federal income taxes	2,516	4,928	5,023	9,652
Total expenses	27,614	34,494	47,460	75,269
Net earnings	10,454	9,488	20,526	18,858
Segments | Annuities
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	625,716		625,716		603,700
Total segment assets	9,086,354		9,086,354		9,269,956
Future policy benefits	8,047,777		8,047,777		8,232,216
Other policyholder liabilities	100,330		100,330		103,048
Condensed Consolidated Income Statements:
Premiums and contract revenues	7,298	6,054	12,445	11,290
Net investment income	86,915	105,474	140,458	231,908
Other revenues	18	38	37	64
Total revenues	94,231	111,566	152,940	243,262
Life and other policy benefits	7,824	7,729	18,688	16,282
Amortization of deferred acquisition costs	21,024	23,759	43,198	47,776
Universal life and annuity contract interest	43,483	59,583	45,676	136,847
Other operating expenses	9,085	9,814	17,020	19,874
Total condensed consolidated Federal income taxes	2,478	3,656	5,576	7,612
Total expenses	83,894	104,541	130,158	228,391
Net earnings	10,337	7,025	22,782	14,871
Segments | All Others
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	0		0		0
Total segment assets	381,620		381,620		398,597
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	10,728	7,864	15,296	14,963
Other revenues	5,265	4,472	10,213	8,912
Total revenues	15,993	12,336	25,509	23,875
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	5,076	4,165	10,246	8,487
Total condensed consolidated Federal income taxes	2,132	2,790	2,999	5,209
Total expenses	7,208	6,955	13,245	13,696
Net earnings	8,785	5,381	12,264	10,179
Other unallocated
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	217,180		217,180		$ 213,398
Segment Reconciling Items
Condensed Consolidated Income Statements:
Taxes on realized gains (losses) on investments	566	2,186	694	3,091
Realized gains (losses) on investments, net of taxes	$ 2,130	$ 4,061	$ 2,613	$ 5,741

Share-Based Payments (General D

Share-Based Payments (General Descriptions) (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 17, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Jun. 20, 2008	Jun. 25, 2004
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period in force, from which option holders may elect to sell back acquired shares				90 days
Compensation cost not yet recognized		$ 14		$ 14		$ 15.4
Pre-tax compensation cost (benefit) recognized		1.3	$ 3.6	0.7	$ 4.3
Compensation cost (benefit), tax expense (benefit)		(0.3)	$ (1.2)	(0.1)	$ (1.5)
Compensation cost related to nonvested options not yet recognized		$ 5.1		$ 5.1
Weighted average period over which the compensation is expected to be recognized				1 year 2 months 12 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
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				3 years
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				1 year	1 year
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 | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	203	0	11,715
SAR | 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]
Vesting period (in years)	3 years			3 years
RSU | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	51	0	2,725
RSU | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	0	1,660
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				3 years
Performance period (in years)				3 years
PSU | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	101	0	4,526
PSU | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		0	0	0	0
Vesting After Service Period, Year One | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year One | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Two | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Two | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Three | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Three | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Four | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Four | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Five | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Five | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%

Share-Based Payments (Options a

Share-Based Payments (Options and Stock Appreciation Rights Outstanding) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
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)	18,018
Exercised (in shares)	(18,018)
Forfeited (in shares)	0
Expired (in shares)	0
Granted (in shares)	0
Ending Balance (in shares)	0
Weighted-Average Exercise Price (usd per share)
Beginning Balance (in usd per share)	$ 242.07
Exercised (in usd per share)	242.07
Forfeited (in usd per share)	0
Expired (in usd per share)	0
Granted (in usd per share)	0
Ending Balance (in usd per share)	$ 0
Liability Awards
Fair value of vested awards	$ 0.8	$ 0.7
Cash received from exercise of stock options	$ 0	0.2
SAR
Liability Awards
Opening balance (in shares)	92,667
Exercised (in shares)	(1,328)
Forfeited (in shares)	(1,442)
Granted (in shares)	0
Closing balance (in shares)	89,897
Total intrinsic value of options exercised	$ 1.9	0.2
Total share-based liabilities paid	$ 1.9	$ 0.2
RSU
Liability Awards
Opening balance (in shares)	11,721
Exercised (in shares)	(1,494)
Forfeited (in shares)	(419)
Granted (in shares)	0
Closing balance (in shares)	9,808
PSU
Liability Awards
Opening balance (in shares)	14,052
Exercised (in shares)	0
Forfeited (in shares)	0
Granted (in shares)	0
Closing balance (in shares)	14,052

Share-Based Payments (Exercise

Share-Based Payments (Exercise Range) (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding (in shares)	89,897
Number Outstanding, Aggregate intrinsic value | $	$ 9,205
Number Exercisable (in shares)	49,971
Options Exercisable, Aggregate intrinsic value | $	$ 6,741
Closing stock price (in usd per share) | $ / shares	$ 307.26
Contractual life (in years)	1 year
114.64 (SARs)
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 114.64
SAR | 114.64 (SARs)
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)	10,900
Weighted- Average Remaining Contractual Life	7 months 6 days
Number Exercisable (in shares)	10,900
SAR | 132.56 (SARs)
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)	20,018
Weighted- Average Remaining Contractual Life	3 years 6 months
Number Exercisable (in shares)	16,115
SAR | 210.22 (SARs)
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)	26,100
Weighted- Average Remaining Contractual Life	5 years 6 months
Number Exercisable (in shares)	11,600
SAR | 216.48 (SARs)
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)	11,853
Weighted- Average Remaining Contractual Life	7 years 7 months 6 days
Number Exercisable (in shares)	7,717
SAR | 311.16 (SARs)
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)	10,665
Weighted- Average Remaining Contractual Life	8 years 7 months 6 days
Number Exercisable (in shares)	3,572
SAR | 310.55 (SARs)
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	8 years 9 months 18 days
Number Exercisable (in shares)	67
SAR | 334.34 (SARs)
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price (in usd per share) | $ / shares	$ 334.34
Number Outstanding (in shares)	10,158
Weighted- Average Remaining Contractual Life	9 years 6 months
Number Exercisable (in shares)	0

Share-Based Payments (Black Sch

Share-Based Payments (Black Scholes Option Pricing Model Assumptions) (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield (in percentage)	0.12%		0.11%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of awards	7 months 6 days	3 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of awards	9 years 6 months	10 years
Weighted-average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, weighted-average (in percentage)	21.67%		21.55%
Risk-free rate, weighted-average (in percentage)	2.44%		1.82%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2018USD ($)Annuity_Policy
Loss Contingencies [Line Items]
Number of annuity policies | Annuity_Policy	2
New Loans
Loss Contingencies [Line Items]
Other commitment	$ 11.5
Existing Loans
Loss Contingencies [Line Items]
Other commitment	8.7
Pending Litigation | Damaris Maldonado Vinas Et Al
Loss Contingencies [Line Items]
Loss contingency accrual	$ (2.9)

Investments (Investment Gains a

Investments (Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Available for sale debt securities:
Realized gains on disposal	$ 1,981	$ 1,635	$ 2,021	$ 2,608
Realized losses on disposal	0	0	0	0
Held to maturity debt securities:
Realized gains on disposal	734	1,982	1,305	3,539
Realized losses on disposal	(19)	(35)	(19)	(69)
Equity securities realized gains (losses)	0	8	0	97
Real estate gains (losses)	0	2,657	0	2,657
Totals	$ 2,696	$ 6,247	$ 3,307	$ 8,832
Investments, percentage of gains on bonds, due to calls of securities (in percentage)	99.90%	99.00%	99.70%	84.00%
Total other-than-temporary impairment gains (losses) on debt securities	$ (3)	$ (23)	$ (6)	$ (43)
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	627		627	1,440	$ 1,440
Reductions for securities sold during current period	0		0		(813)
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	627		627		$ 627
Debt Securities
Held to maturity debt securities:
Total other-than-temporary impairment gains (losses) on debt securities	(3)	(23)	(6)	(43)
Portion of loss (gain) recognized in comprehensive income	(3)	(23)	(6)	(43)
Net OTTI losses recognized in earnings	0	0	0	0
Equity securities
Held to maturity debt securities:
Net OTTI losses recognized in earnings	$ 0	$ 0	$ 0	$ 0

Investments (Securities Held to

Investments (Securities Held to Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Total	$ 7,315,947	$ 7,247,024
Gross Unrealized Gains	67,097	202,170
Gross Unrealized Losses	(121,281)	(15,090)
Fair Value	7,261,763	7,434,104
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	3,422,659	456,365
Less than 12 Months, Unrealized Losses	(85,101)	(2,459)
12 Months or Greater, Fair Value	640,134	662,950
12 Months or Greater, Unrealized Losses	(36,180)	(12,631)
Total, Fair Value	4,062,793	1,119,315
Total, Unrealized Losses	(121,281)	(15,090)
U.S. Treasury
Schedule of Held-to-maturity Securities [Line Items]
Total	1,340	1,337
Gross Unrealized Gains	131	177
Gross Unrealized Losses	0	0
Fair Value	1,471	1,514
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0	0
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Total	458,068	467,437
Gross Unrealized Gains	11,540	21,907
Gross Unrealized Losses	(1,705)	(100)
Fair Value	467,903	489,244
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	74,632	6,308
Less than 12 Months, Unrealized Losses	(1,521)	(14)
12 Months or Greater, Fair Value	4,771	4,869
12 Months or Greater, Unrealized Losses	(184)	(86)
Total, Fair Value	79,403	11,177
Total, Unrealized Losses	(1,705)	(100)
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Total	995,587	1,062,545
Gross Unrealized Gains	9,316	30,527
Gross Unrealized Losses	(14,698)	(894)
Fair Value	990,205	1,092,178
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	502,654	68,368
Less than 12 Months, Unrealized Losses	(12,539)	(407)
12 Months or Greater, Fair Value	32,424	34,091
12 Months or Greater, Unrealized Losses	(2,159)	(487)
Total, Fair Value	535,078	102,459
Total, Unrealized Losses	(14,698)	(894)
Corporate
Schedule of Held-to-maturity Securities [Line Items]
Total	4,633,657	4,430,099
Gross Unrealized Gains	34,043	121,978
Gross Unrealized Losses	(84,964)	(7,876)
Fair Value	4,582,736	4,544,201
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	2,325,956	248,844
Less than 12 Months, Unrealized Losses	(61,863)	(1,296)
12 Months or Greater, Fair Value	415,757	431,591
12 Months or Greater, Unrealized Losses	(23,101)	(6,580)
Total, Fair Value	2,741,713	680,435
Total, Unrealized Losses	(84,964)	(7,876)
Residential mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total	1,222,714	1,280,307
Gross Unrealized Gains	11,955	27,445
Gross Unrealized Losses	(19,905)	(6,216)
Fair Value	1,214,764	1,301,536
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	516,969	130,015
Less than 12 Months, Unrealized Losses	(9,169)	(738)
12 Months or Greater, Fair Value	187,182	192,399
12 Months or Greater, Unrealized Losses	(10,736)	(5,478)
Total, Fair Value	704,151	322,414
Total, Unrealized Losses	(19,905)	(6,216)
Home equity
Schedule of Held-to-maturity Securities [Line Items]
Total	3,774	4,262
Gross Unrealized Gains	55	57
Gross Unrealized Losses	(9)	(4)
Fair Value	3,820	4,315
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	2,448	2,830
Less than 12 Months, Unrealized Losses	(9)	(4)
12 Months or Greater, Fair Value	0	0
12 Months or Greater, Unrealized Losses	0	0
Total, Fair Value	2,448	2,830
Total, Unrealized Losses	(9)	(4)
Manufactured housing
Schedule of Held-to-maturity Securities [Line Items]
Total	807	1,037
Gross Unrealized Gains	57	79
Gross Unrealized Losses	0	0
Fair Value	864	1,116
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	$ 0	$ 0

Investments (Securities Availab

Investments (Securities Available for Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt securities:
Total	$ 3,022,106	$ 2,964,510
Gross Unrealized Gains	24,896	87,446
Gross Unrealized Losses	(66,899)	(10,825)
Fair Value	2,980,103	3,041,131
Equity securities
Amortized Cost		12,890
Gross Unrealized Gains		5,708
Gross Unrealized Losses		(120)
Fair Value		18,478
Amortized Cost		2,977,400
Gross Unrealized Gains		93,154
Gross Unrealized Losses		(10,945)
Fair Value		3,059,609
Fair Value
Less than 12 Months	1,576,343
12 Months or Greater	305,242
Total	1,881,585
Unrealized Losses
Less than 12 Months	(45,112)
12 Months or Greater	(21,787)
Total	(66,899)
Fair Value
Less than 12 Months		206,345
12 Months or Greater		298,219
Total		504,564
Unrealized Losses
Less than 12 Months		1,254
12 Months or Greater		9,691
Total		10,945
Debt Securities
Fair Value
Less than 12 Months		205,099
12 Months or Greater		297,930
Total		503,029
Unrealized Losses
Less than 12 Months		1,177
12 Months or Greater		9,648
Total		10,825
States and political subdivisions
Debt securities:
Total	572	575
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5)	(29)
Fair Value	567	546
Fair Value
Less than 12 Months	567
12 Months or Greater	0
Total	567
Unrealized Losses
Less than 12 Months	(5)
12 Months or Greater	0
Total	(5)
Fair Value
Less than 12 Months		546
12 Months or Greater		0
Total		546
Unrealized Losses
Less than 12 Months		29
12 Months or Greater		0
Total		29
Foreign governments
Debt securities:
Total	9,969	9,964
Gross Unrealized Gains	11	326
Gross Unrealized Losses	0	0
Fair Value	9,980	10,290
Public utilities
Debt securities:
Total	86,452	83,466
Gross Unrealized Gains	1,553	3,640
Gross Unrealized Losses	(451)	0
Fair Value	87,554	87,106
Fair Value
Less than 12 Months	23,517
12 Months or Greater	0
Total	23,517
Unrealized Losses
Less than 12 Months	(451)
12 Months or Greater	0
Total	(451)
Corporate
Debt securities:
Total	2,900,354	2,842,381
Gross Unrealized Gains	22,050	81,737
Gross Unrealized Losses	(66,395)	(10,744)
Fair Value	2,856,009	2,913,374
Fair Value
Less than 12 Months	1,550,888
12 Months or Greater	304,263
Total	1,855,151
Unrealized Losses
Less than 12 Months	(44,655)
12 Months or Greater	(21,740)
Total	(66,395)
Fair Value
Less than 12 Months		201,575
12 Months or Greater		296,845
Total		498,420
Unrealized Losses
Less than 12 Months		1,134
12 Months or Greater		9,610
Total		10,744
Residential mortgage-backed
Debt securities:
Total	17,809	20,246
Gross Unrealized Gains	965	1,376
Gross Unrealized Losses	(47)	(52)
Fair Value	18,727	21,570
Fair Value
Less than 12 Months	0
12 Months or Greater	979
Total	979
Unrealized Losses
Less than 12 Months	0
12 Months or Greater	(47)
Total	(47)
Fair Value
Less than 12 Months		1,325
12 Months or Greater		1,085
Total		2,410
Unrealized Losses
Less than 12 Months		14
12 Months or Greater		38
Total		52
Home equity
Debt securities:
Total	6,950	7,878
Gross Unrealized Gains	317	367
Gross Unrealized Losses	(1)	0
Fair Value	7,266	8,245
Fair Value
Less than 12 Months	1,371
12 Months or Greater	0
Total	1,371
Unrealized Losses
Less than 12 Months	(1)
12 Months or Greater	0
Total	$ (1)
Fair Value
Less than 12 Months		1,653
12 Months or Greater		0
Total		1,653
Unrealized Losses
Less than 12 Months		0
12 Months or Greater		0
Total		0
Manufactured housing
Debt securities:
Total		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
Equity securities
Fair Value
Less than 12 Months		1,246
12 Months or Greater		289
Total		1,535
Unrealized Losses
Less than 12 Months		77
12 Months or Greater		43
Total		$ 120

Investments (Unrealized Losses)

Investments (Unrealized Losses) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)security	Jun. 30, 2018USD ($)security
Asset-Backed Security
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Securities, other-than-temporarily impaired | $	$ 0	$ 0
Debt Securities
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of issues	658	658
Gross unrealized losses, percentage of total debt	50.30%	50.30%
Gross unrealized losses, market value as a percent of amortized cost	96.90%	96.90%
Gross unrealized losses, number of securities with maturities of 12 months or greater	123	123
Gross unrealized losses, number of securities with maturities of 12 months or greater (as a percentage)	18.70%	18.70%
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	648	648

Investments (Contractual Maturi

Investments (Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Securities Available for Sale- Amortized Cost
Due in 1 year or less	$ 72,468
Due after 1 year through 5 years	1,220,280
Due after 5 years through 10 years	1,636,845
Due after 10 years	67,754
Amortized Cost	2,997,347
Mortgage and asset-backed securities	24,759
Total	3,022,106	$ 2,964,510
Debt Securities Available for Sale- Fair Value
Due in 1 year or less	74,135
Due after 1 year through 5 years	1,229,091
Due after 5 years through 10 years	1,585,446
Due after 10 years	65,438
Fair Value	2,954,110
Mortgage and asset-backed securities	25,993
Total	2,980,103	3,041,131
Debt Securities Held to Maturity - Amortized Costs
Due in 1 year or less	268,904
Due after 1 year through 5 years	2,652,956
Due after 5 years through 10 years	2,771,865
Due after 10 years	394,927
Amortized Cost	6,088,652
Mortgage and asset-backed securities	1,227,295
Total	7,315,947	7,247,024
Debt Securities Held to Maturity - Fair Value
Due in 1 year or less	274,043
Due after 1 year through 5 years	2,661,600
Due after 5 years through 10 years	2,706,537
Due after 10 years	400,135
Fair Value	6,042,315
Mortgage and asset-backed securities	1,219,448
Total	$ 7,261,763	$ 7,434,104

Investments (Mortgage Loans and

Investments (Mortgage Loans and Real Estate) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 197,402	$ 208,899
Allowance for possible losses, amount	(650)	(650)
Totals, amount	$ 196,752	$ 208,249
Mortgage loans, percentage	100.00%	100.00%
Allowance for possible losses, percentage	(0.30%)	(0.30%)
Totals, percentage	99.70%	99.70%
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%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 74,261	$ 82,224
Mortgage loans, percentage	37.60%	39.40%
50% to 60%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 15,485	$ 27,395
Mortgage loans, percentage	7.90%	13.10%
60% to 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 95,430	$ 86,849
Mortgage loans, percentage	48.30%	41.60%
70% to 80%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 6,787	$ 0
Mortgage loans, percentage	3.40%	0.00%
80% to 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 5,439	$ 6,929
Mortgage loans, percentage	2.80%	3.30%
Greater than 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 0	$ 5,502
Mortgage loans, percentage	0.00%	2.60%

Investments (Real Estate) (Deta

Investments (Real Estate) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Other long-term investments	$ 49,969		$ 51,828
Real Estate
Debt Securities, Available-for-sale [Line Items]
Other long-term investments	37,000		$ 37,400
Operating income from real estate	$ 1,100	$ 1,400

Fair Value of Financial Instr47

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	$ 2,980,103	$ 3,041,131
Equity securities	18,637	18,478
Derivatives, index options	102,007	194,731
Total assets	3,100,747	3,254,340
Policyholder account balances	119,009	211,159
Other liabilities	14,004	15,242
Total liabilities	$ 133,013	$ 226,401
Percent of total (in percentage)	100.00%	100.00%
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	$ 0	$ 0
Equity securities	18,637	18,478
Derivatives, index options	0	0
Total assets	18,637	18,478
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]
Debt securities available for sale	$ 2,980,103	$ 3,041,131
Equity securities	0	0
Derivatives, index options	0	0
Total assets	2,980,103	3,041,131
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	$ 0
Percent of total (in percentage)	96.10%	93.40%
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	$ 0	$ 0
Equity securities	0	0
Derivatives, index options	102,007	194,731
Total assets	102,007	194,731
Policyholder account balances	119,009	211,159
Other liabilities	14,004	15,242
Total liabilities	$ 133,013	$ 226,401
Percent of total (in percentage)	3.30%	6.00%
Priced by Third-Party Vendors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	$ 2,980,103	$ 3,041,131
Equity securities	18,637	18,478
Derivatives, index options	102,007	194,731
Priced by Third-Party Vendors | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Equity securities	18,637	18,478
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]
Debt securities available for sale	2,980,103	3,041,131
Equity securities	0	0
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]
Debt securities available for sale	0	0
Equity securities	0	0
Derivatives, index options	102,007	194,731
Priced Internally
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Equity securities	0	0
Derivatives, index options	0	0
Priced Internally | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Equity securities	0	0
Derivatives, index options	0	0
Priced Internally | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Equity securities	0	0
Derivatives, index options	0	0
Priced Internally | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available for sale	0	0
Equity securities	0	0
Derivatives, index options	$ 0	$ 0

Fair Value of Financial Instr48

Fair Value of Financial Instruments (Fair Value Measurements for Level 3 Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	$ 116,356	$ 149,848	$ 194,731	$ 120,644
Total realized and unrealized gains (losses):
Included in net income	10,292	32,216	(34,102)	93,422
Included in other comprehensive income			0	0
Purchases	21,901	18,937	44,277	35,379
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(46,542)	(51,660)	(102,899)	(100,104)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	102,007	149,341	102,007	149,341
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:	20,610	12,559	(23,727)	67,104
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	147,502	167,008	226,401	134,693
Total realized and unrealized gains (losses):
Included in net income	10,608	39,466	(32,820)	103,642
Included in other comprehensive income			0	0
Purchases	21,901	18,938	44,277	35,379
Sales	0	0	0	0
Issuances	0	515	0	744
Settlements	(46,998)	(52,571)	(104,845)	(101,102)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	133,013	173,356	133,013	173,356
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:	21,861	15,423	(23,019)	70,519
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
Included in other comprehensive income			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
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
Included in other comprehensive income			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	116,356	149,848	194,731	120,644
Total realized and unrealized gains (losses):
Included in net income	10,292	32,216	(34,102)	93,422
Included in other comprehensive income			0	0
Purchases	21,901	18,937	44,277	35,379
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(46,542)	(51,660)	(102,899)	(100,104)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	102,007	149,341	102,007	149,341
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:	20,610	12,559	(23,727)	67,104
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:	20,610	12,559	(23,727)	67,104
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
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:	20,610	12,559	(23,727)	67,104
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:	21,861	15,423	(23,019)	70,519
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
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 Inst49

Fair Values of Financial Instruments (Quantitative Information) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 3,100,747	$ 3,254,340
Liabilities, fair value disclosure	133,013	226,401
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	102,007	194,731
Liabilities, fair value disclosure	133,013	226,401
Derivatives, index options | Broker prices | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	102,007	194,731
Policyholder account balances | Deterministic cash flow model | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	119,009	211,159
Other liabilities | Black-Scholes model | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	$ 14,004	$ 15,242

Fair Values of Financial Inst50

Fair Values of Financial Instruments (Fair Value by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Debt securities held to maturity	$ 7,261,763	$ 7,434,104
Debt securities available for sale	2,980,103	3,041,131
Securities available for sale		3,059,609
Derivatives, index options	102,007	194,731
Equity securities	18,637	18,478
Fair Values
ASSETS
Debt securities held to maturity	7,261,763	7,434,104
Debt securities available for sale	2,980,103
Securities available for sale		3,059,609
Cash and cash equivalents	126,519	217,624
Mortgage loans	197,333	208,815
Policy loans	92,451	100,230
Other loans	4,152	5,603
Derivatives, index options	102,007	194,731
Equity securities	18,637
Life interest in Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,188,821	7,338,637
Immediate annuity and supplemental contracts	427,250	443,437
Carrying Values
ASSETS
Debt securities held to maturity	7,315,947	7,247,024
Debt securities available for sale	2,980,103
Securities available for sale		3,059,609
Cash and cash equivalents	126,519	217,624
Mortgage loans	196,752	208,249
Policy loans	55,603	56,405
Other loans	3,969	5,431
Derivatives, index options	102,007	194,731
Equity securities	18,637
Life interest in Trust	8,676	8,676
LIABILITIES
Deferred annuity contracts	7,684,170	7,865,786
Immediate annuity and supplemental contracts	422,285	430,494
Level 1
ASSETS
Debt securities held to maturity	0	0
Debt securities available for sale	0	0
Securities available for sale		18,478
Cash and cash equivalents	126,519	217,624
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Equity securities	18,637	18,478
Life interest in Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 2
ASSETS
Debt securities held to maturity	7,259,838	7,431,810
Debt securities available for sale	2,980,103	3,041,131
Securities available for sale		3,041,131
Cash and cash equivalents	0	0
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Equity securities	0	0
Life interest in Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 3
ASSETS
Debt securities held to maturity	1,925	2,294
Debt securities available for sale	0	0
Securities available for sale		0
Cash and cash equivalents	0	0
Mortgage loans	197,333	208,815
Policy loans	92,451	100,230
Other loans	4,152	5,603
Derivatives, index options	102,007	194,731
Equity securities	0	0
Life interest in Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,188,821	7,338,637
Immediate annuity and supplemental contracts	$ 427,250	$ 443,437

Derivative Investments (Balance

Derivative Investments (Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 102,007	$ 194,731
Liability Derivatives	119,009	211,159
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	102,007	194,731
Liability Derivatives	119,009	211,159
Derivatives not designated as hedging instruments | Equity index options | Derivatives, index options
Derivatives, Fair Value [Line Items]
Asset Derivatives	102,007	194,731
Derivatives not designated as hedging instruments | Fixed-index products | Universal Life and Annuity Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 119,009	$ 211,159

Derivative Investments (Stateme

Derivative Investments (Statements of Earnings) (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 935	$ (4,207)	$ (574)	$ (6,625)
Equity index options | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	10,292	32,215	(34,102)	93,421
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	$ (9,357)	$ (36,422)	$ 33,528	$ (100,046)