National Western Life Group Inc - Ordinary Shares (NWLI) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 06, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	000-55522
Entity Registrant Name	NATIONAL WESTERN LIFE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3339380
Entity Address, Address Line One	10801 N. Mopac Expy Bldg 3
Entity Address, City or Town	Austin,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78759
City Area Code	(512)
Local Phone Number	836-1010
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001635984
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (shares)		3,436,020
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (shares)		200,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments:
Debt securities held to maturity, at amortized cost (fair value: $7,537,665 and $7,228,268)	$ 7,224,459	$ 7,285,254
Debt securities available for sale, at fair value (cost: $3,265,807 and $3,008,624)	3,409,466	2,946,059
Mortgage loans, net of allowance for possible losses ($675 and $675)	224,048	203,180
Policy loans	80,272	54,724
Derivatives, index options	106,364	14,684
Equity securities, at fair value (cost: $14,120 and $14,329)	19,462	17,491
Other long-term investments	62,037	56,851
Total investments	11,126,108	10,578,243
Cash and cash equivalents	171,509	131,976
Deferred policy acquisition costs	736,826	841,704
Deferred sales inducements	108,425	133,714
Value of business acquired	139,900	0
Accrued investment income	98,618	96,338
Federal income tax receivable	11,346	17,934
Other assets	166,862	131,782
Total assets	12,559,594	11,931,691
Future policy benefits:
Universal life and annuity contracts	9,329,867	9,608,850
Traditional life reserves	832,859	135,436
Other policyholder liabilities	129,715	135,694
Deferred Federal income tax liability	47,665	39,384
Other liabilities	127,836	111,550
Total liabilities	10,467,942	10,030,914
COMMITMENTS AND CONTINGENCIES (Note 8)
Common stock:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income (loss)	59,977	(37,015)
Retained earnings	1,989,923	1,896,040
Total stockholders’ equity	2,091,652	1,900,777
Total liabilities and stockholders' equity	12,559,594	11,931,691
Class A
Common stock:
Common stock, value outstanding	34	34
Class B
Common stock:
Common stock, value outstanding	$ 2	$ 2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt securities held to maturity - fair value	$ 7,537,665	$ 7,228,268
Debt securities available for sale, amortized cost	3,265,807	3,008,624
Mortgage loans - allowance for possible losses	675	675
Equity securities - cost	$ 14,120	$ 14,329
Class A
STOCKHOLDERS’ EQUITY:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000	7,500,000
Common stock, shares issued (in shares)	3,436,020	3,436,020
Common stock, shares outstanding (in shares)	3,436,020	3,436,020
Class B
STOCKHOLDERS’ EQUITY:
Common stock, par value (in dollars 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Premiums and other revenues:
Universal life and annuity contract charges	$ 37,840	$ 38,287	$ 112,703	$ 116,753
Traditional life premiums	24,099	4,209	65,492	13,282
Net investment income	108,456	175,553	388,211	358,100
Other revenues	3,273	5,111	13,652	15,396
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)	(1,943)	3	(7,840)	9
Portion of OTTI (gains) losses recognized in other comprehensive income	(2)	(3)	(7)	(9)
Net OTTI losses recognized in earnings	(1,945)	0	(7,847)	0
Other net investment gains (losses)	1,443	2,275	11,549	5,582
Total net realized investment gains (losses)	(502)	2,275	3,702	5,582
Total revenues	173,166	225,435	583,760	509,113
Benefits and expenses:
Life and other policy benefits	39,918	5,744	101,764	44,607
Amortization of deferred policy acquisition costs and value of business acquired	22,998	26,775	86,573	90,073
Universal life and annuity contract interest	59,445	124,145	200,500	183,316
Other operating expenses	25,813	24,037	77,196	72,467
Total benefits and expenses	148,174	180,701	466,033	390,463
Earnings before Federal income taxes	24,992	44,734	117,727	118,650
Federal income taxes	5,003	9,093	23,844	23,668
Net earnings	19,989	35,641	93,883	94,982
Class A
Benefits and expenses:
Net earnings	$ 19,424	$ 34,633	$ 91,228	$ 92,296
Basic earnings per share:
Earnings per share, basic (in dollars per share)	$ 5.65	$ 10.08	$ 26.55	$ 26.86
Diluted earnings per share:
Earnings per share, diluted (in dollars per share)	$ 5.65	$ 10.08	$ 26.55	$ 26.86
Class B
Benefits and expenses:
Net earnings	$ 565	$ 1,008	$ 2,655	$ 2,686
Basic earnings per share:
Earnings per share, basic (in dollars per share)	$ 2.83	$ 5.04	$ 13.28	$ 13.43
Diluted earnings per share:
Earnings per share, diluted (in dollars per share)	$ 2.83	$ 5.04	$ 13.28	$ 13.43

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 19,989	$ 35,641	$ 93,883	$ 94,982
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period	15,586	(1,416)	93,730	(51,238)
Net unrealized liquidity gains (losses)	1	0	3	2
Reclassification adjustment for net amounts included in net earnings	1,380	(936)	4,252	(2,533)
Net unrealized gains (losses) on securities	16,967	(2,352)	97,985	(53,769)
Foreign currency translation adjustments	52	20	519	1,227
Benefit plans:
Amortization of net prior service cost and net gain (loss)	(504)	2,801	(1,512)	8,403
Other comprehensive income (loss)	16,515	469	96,992	(44,139)
Comprehensive income (loss)	$ 36,504	$ 36,110	$ 190,875	$ 50,843

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Unrealized gains (losses) on non-impaired securities	Unrealized losses on impaired held to maturity securities	Unrealized losses on impaired available for sale securities	Foreign currency translation adjustments	Benefit plan liability adjustment	Retained earnings
Total stockholders’ equity, beginning of period at Dec. 31, 2017		$ 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	$ (51,238)				(53,771)
Amortization						7
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(4)	(1)
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	1,227							1,227
Amortization of net prior service cost and net loss, net of tax	8,403								8,403
Net earnings	94,982									94,982
Total stockholders’ equity, end of period at Sep. 30, 2018	1,883,017	36	41,716	$ (34,272)	(24,521)	(7)	(2)	4,450	(14,192)	1,875,537
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle, net of tax					0
Total stockholders’ equity, beginning of period at Jun. 30, 2018		36	41,716		(22,169)	(8)	(1)	4,430	(16,993)	1,839,896
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	(1,416)				(2,352)
Amortization						2
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(1)	(1)
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	20							20
Amortization of net prior service cost and net loss, net of tax	2,801								2,801
Net earnings	35,641									35,641
Total stockholders’ equity, end of period at Sep. 30, 2018	1,883,017	36	41,716	(34,272)	(24,521)	(7)	(2)	4,450	(14,192)	1,875,537
Total stockholders’ equity, beginning of period at Dec. 31, 2018	1,900,777	36	41,716		(30,286)	(7)	(2)	4,577	(11,297)	1,896,040
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	93,730				97,982
Amortization						6
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(3)	0
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	519							519
Amortization of net prior service cost and net loss, net of tax	(1,512)								(1,512)
Net earnings	93,883									93,883
Total stockholders’ equity, end of period at Sep. 30, 2019	2,091,652	36	41,716	59,977	67,696	(4)	(2)	5,096	(12,809)	1,989,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle, net of tax					0
Total stockholders’ equity, beginning of period at Jun. 30, 2019		36	41,716		50,730	(5)	(2)	5,044	(12,305)	1,969,934
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period, net of tax	15,586				16,966
Amortization						2
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(1)	0
Other-than-temporary impairments, non-credit, net of tax							0
Recoveries, net of tax							0
Change in translation adjustments during period	52							52
Amortization of net prior service cost and net loss, net of tax	(504)								(504)
Net earnings	19,989									19,989
Total stockholders’ equity, end of period at Sep. 30, 2019	$ 2,091,652	$ 36	$ 41,716	$ 59,977	$ 67,696	$ (4)	$ (2)	$ 5,096	$ (12,809)	$ 1,989,923

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net earnings	$ 93,883	$ 94,982
Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest	200,500	183,316
Surrender charges and other policy revenues	(25,608)	(28,429)
Realized (gains) losses on investments	(3,702)	(5,582)
Accretion/amortization of discounts and premiums, investments	1,798	(86)
Depreciation and amortization	8,185	8,769
(Increase) decrease in value of equity securities	(2,639)	(254)
(Increase) decrease in value of derivatives	(63,127)	(35,581)
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired	53,837	31,645
(Increase) decrease in accrued investment income	3,837	(4,245)
(Increase) decrease in other assets	280	(12,489)
Increase (decrease) in liabilities for future policy benefits	6,960	(11,566)
Increase (decrease) in other policyholder liabilities	(19,847)	1,520
Increase (decrease) in Federal income tax liability	6,486	(696)
Increase (decrease) in deferred Federal income tax	(17,502)	4,680
Increase (decrease) in other liabilities	(1,340)	(3,882)
Net cash provided by operating activities	242,001	222,102
Proceeds from sales of:
Debt securities available for sale	80,528	13,098
Other investments	35,871	2,749
Proceeds from maturities and redemptions of:
Debt securities held to maturity	486,344	360,036
Debt securities available for sale	189,944	168,638
Derivatives, index options	28,457	160,094
Property and equipment	0	8
Purchases of:
Debt securities held to maturity	(161,617)	(391,548)
Debt securities available for sale	(127,811)	(228,172)
Equity securities	(977)	(1,678)
Derivatives, index options	(57,443)	(63,524)
Other investments	(7,314)	(5,581)
Property and equipment	(2,497)	(3,070)
Payment to acquire businesses, net of cash acquired	(189,121)	0
Principal payments on mortgage loans	22,384	32,374
Cost of mortgage loans acquired	(47,744)	(24,803)
Decrease (increase) in policy loans	2,580	1,931
Net cash provided by/(used in) investing activities	251,584	20,552
Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts	292,551	442,795
Return of account balances on universal life and annuity contracts	(747,260)	(749,245)
Net cash provided by (used in) financing activities	(454,709)	(306,450)
Effect of foreign exchange	657	1,553
Net increase (decrease) in cash and cash equivalents	39,533	(62,243)
Cash and cash equivalents at beginning of period	131,976	217,624
Cash and cash equivalents at end of period	171,509	155,381
Cash paid (received) during the period for:
Interest	252	30
Income taxes	34,758	19,683
Noncash operating activities:
Net deferral and amortization of sales inducements	(13,501)	(8,152)
Noncash investing activities:
Contingent consideration to acquire businesses	$ 3,965	$ 0

Consolidation and Basis of Pres

Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation and Basis of Presentation	CONSOLIDATION AND BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position of National Western Life Group, Inc. ("NWLGI") and its wholly owned subsidiaries (“Company”) as of September 30, 2019 , and the results of its operations and its cash flows for the three and nine months ended September 30, 2019 and September 30, 2018 . Such adjustments are of a normal recurring nature. The results of operations for the nine months ended September 30, 2019 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, 2018 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, 2018 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 Services, Inc., and N.I.S. Financial Services, Inc. ("NIS"). National Western's wholly owned subsidiaries include The Westcap Corporation, NWL Financial, Inc., NWLSM, Inc., Braker P III, LLC, and Ozark National Life Insurance Company ("Ozark National"). The results of operations for Ozark National and NIS include the eight months ended September 30, 2019 subsequent to their acquisition effective January 31, 2019. 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 ("DPAC") and value of business acquired ("VOBA"), (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. During the first nine months of 2019, the Company incorporated accounting estimates for business combinations, value of business acquired, and fair value measurement as a result of its acquisition of Ozark National and NIS. The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and nine months ended September 30, 2019 and September 30, 2018 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Other net investment gains (losses) $ 198 1,185 2,465 3,206 Net OTTI losses recognized in earnings (1,945 ) — (7,847 ) — Earnings before Federal income taxes (1,747 ) 1,185 (5,382 ) 3,206 Federal income taxes (367 ) 249 (1,130 ) 673 Net earnings $ (1,380 ) 936 (4,252 ) 2,533

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Recent accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts . This update is aimed at improving the Codification as it relates to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. Amendments include the following: A. Require insurance entity to (1) review and update assumptions used to measure cash flows at least annually (with changes recognized in net income) and (2) update discount rate assumption at each reporting date (with changes recognized in other comprehensive income). B. Require insurance entity to measure all market risk benefits associated with deposit (i.e. account balance) contracts at fair value, with change in fair value attributable to change in instrument-specific credit risk recognized in other comprehensive income. C. Simplify amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins and require those balances be amortized on constant level basis over expected term of related contract. Deferred acquisition costs are required to be written off for unexpected contract terminations but are not subject to impairment test. D. Require insurance entity to add disclosures of disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities, and deferred acquisition costs. Insurance entity must also disclose information about significant inputs, judgments, assumptions, and methods used in measurement, including changes in those inputs, judgments, and assumptions, and the effect of those changes on measurement. These updates are required to be applied retrospectively to the earliest period presented in the financial statements for periods beginning after December 15, 2021, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In August 2018, FASB issued ASU 2018-13 F air Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure requirements for Fair Value Measurement. This update removed disclosures for 1) amount of and reasons for transfers between Level 1 and Level 2 for fair value hierarchy, 2) policy for timing of transfers between levels, 3) valuation process for Level 3 fair value measurements. This update also added disclosure requirement as follows: 1) changes in unrealized gains and losses for the period included in OCI for recurring Level 3 fair value measurements held at end of reporting period; 2) range and weighted average (or other reasonable quantitative measurement) of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments will be effective for interim periods beginning after December 15, 2019. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. In August 2018, FASB issued ASU 2018-14 Compensation-Retirement Benefits - Defined Benefit Plans-General (Subtopic 715-20) Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . This update removed disclosures for 1) amounts in AOCI expected to be recognized as components of net periodic benefit cost over the next fiscal year, 2) amount and timing of plan assets expected to be returned to the employer, 3) related party disclosures about the amount of future annual benefits covered by insurance and annuity contracts and significant transactions between the employer or related parties and the plan, 4) the effects of a one-percentage-point change in assumed health care cost trend rates on the (a) aggregate of the service and interest cost components of the net periodic benefit costs and (b) benefit obligation for postretirement health care benefits. This update also added disclosures as follow: 1) weighted-average interest crediting rates for cash balance plans and other plans with promised crediting rates, 2) explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. Finally, this update clarified that the following information for defined benefit pension plans should be disclosed: 1) projected benefit obligation (PBO) and fair value of plan assets for plans with PBO in excess of plan assets, 2) accumulated benefit obligation (ABO) and fair value of plan assets for plans with ABOs in excess of plan assets. The amendments will be effective for fiscal periods ending after December 31, 2020. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. In April 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The new guidance simplifies the current two-step goodwill impairment test by eliminating Step 2 of the test. The new guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. The amendments will be effective for annual goodwill impairment tests occurring after December 15, 2019. Adoption of this guidance is not expected to have a material effect on the Company’s results of operations or financial position. In June 2016, the FASB released ASU 2016-13, Financial Instruments-Credit Losses , which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model. The objective of the expected credit loss model is for the reporting entity to recognize its estimate of expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. On April 25, 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The amendments in this Update add clarification and correction to ASU 2016-13 around accrued interest, transfers between classifications or categories for loans and debt securities, consideration of recoveries in estimating allowances, reinsurance recoveries, consideration of prepayments and estimated costs to sell when foreclosure is probable. The guidance for these pronouncements is effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained income. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. Recent accounting pronouncements adopted In August 2018, the SEC released a final rule updating disclosure requirements, Disclosure Update and Simplification, which resulted in the additional interim disclosure of an analysis of changes in stockholders’ equity to be required for the current and comparative quarter and year-to-date interim periods. Registrants are required to provide an analysis of changes in each caption of stockholders’ equity and noncontrolling interests, which will be accompanied by dividends per share and in the aggregate for each class of shares. The disclosure must be presented in the form of a reconciliation, either as a separate statement or in the footnotes. The adoption of this in 2019 did not have a material effect on the results of operations or financial position of the Company as this information in year-to-date format is already provided. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities , which amends the amortization period for certain purchased callable debt securities held at a premium. The amortization period for premiums is being shortened to the earliest call date. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The adoption of this ASU in 2019 did not have a material effect on the results of operations or financial position of the Company. In February 2016, the FASB issued new guidance on leasing transactions (ASU 2016-02, Leases - Topic 842). The new guidance is effective for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and requires a modified retrospective transition approach (subject to optional practical expedients). The new guidance requires a lessee to recognize assets and liabilities for leases with lease terms of more than 12 months. Leases would be classified as finance or operating leases and both types of leases will be recognized on the balance sheet. Lessor accounting will remain largely unchanged from current guidance except for certain targeted changes. The new guidance will also require new qualitative and quantitative disclosures. Early adoption is permitted. The Company elected to early adopt this guidance in 2018. There was no material impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU in 2018. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future Consolidated Financial Statements.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
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. Under these guidelines the maximum dividend payment which may be made without prior approval in 2019 is $30.7 million . As the sole owner of NWLIC, all dividends declared by National Western are payable entirely to NWLGI and are eliminated in consolidation. Ozark National is similarly restricted under the state insurance laws of Missouri as to dividend amounts which may be paid to stockholders without prior approval to the greater of 10% of the statutory surplus of the company from the prior year-end or the company's net gain from operations, excluding capital gains, from the prior calendar year. Based upon this restriction, the maximum dividend payment which may be made in 2019 without prior approval is $20.4 million . As part of the Stock Purchase Agreement dated October 3, 2018, by and between NWLIC and Ozark National's previous owner, the Missouri Department of Insurance granted approval for an extraordinary dividend of $102.7 million to be paid to the prior owner concurrent with the closing of the transaction effective January 31, 2019. Consequently, any additional dividends during 2019 will require prior approval of the Missouri Department of Insurance. All dividends declared by Ozark National going forward are payable entirely to NWLIC as the sole owner and are eliminated in consolidation. In the first quarter of 2019, National Western declared and paid a $32.0 million dividend to NWLGI, the proceeds of which were used as part of the cash purchase of NIS. In the third quarter of 2019, National Western declared a $4.0 million dividend to NWLGI which was subsequently paid on October 17, 2019. In the first quarter of 2018, National Western declared and paid a $3.0 million dividend to NWLGI. In the third quarter of 2018, National Western declared a $3.0 million dividend to NWLGI which was subsequently paid on October 17, 2018. Ozark National did not declare or pay cash dividends on its shares during the eight-month period ended September 30, 2019. NWLGI did no t declare or pay cash dividends on its common shares during the nine months ended September 30, 2019 and 2018

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
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. The Company currently has no share-based compensation awards outstanding that could be redeemed for shares of common stock. 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 September 30, 2019 2018 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 19,989 35,641 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed earnings $ 19,989 35,641 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 19,424 565 34,633 1,008 Net earnings $ 19,424 565 34,633 1,008 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 $ 5.65 2.83 10.08 5.04 Diluted Earnings Per Share $ 5.65 2.83 10.08 5.04 Nine Months Ended September 30, 2019 2018 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 93,883 94,982 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 93,883 94,982 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 91,228 2,655 92,296 2,686 Net income $ 91,228 2,655 92,296 2,686 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 $ 26.55 13.28 26.86 13.43 Diluted Earnings Per Share $ 26.55 13.28 26.86 13.43

Pension and Other Postretiremen

Pension and Other Postretirement Plans	9 Months Ended
	Sep. 30, 2019
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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 24 28 72 84 Interest cost 210 225 630 675 Expected return on plan assets (271 ) (325 ) (815 ) (975 ) Amortization of prior service cost — — — — Amortization of net loss 165 131 495 393 Net periodic benefit cost $ 128 59 382 177 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 2019 plan year is $0.4 million which may be contributed as late as the third quarter of 2020. There were no remaining contributions payable for the 2018 plan year as of September 30, 2019 . As of September 30, 2019 , the Company had made $0.0 million in contributions to the plan for the 2019 plan year. The components of net periodic benefit cost including service cost are reported in the line item “Other operating expenses” in the Condensed Consolidated Statement of Earnings. 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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 126 90 377 270 Interest cost 256 213 768 639 Amortization of prior service cost 14 15 44 45 Amortization of net loss 348 176 1,044 528 Net periodic benefit cost $ 744 494 2,233 1,482 As the plans are not funded, there is no expected return on plan assets shown in the net periodic benefit cost table above. The Company expects to contribute $2.0 million to these plans in 2019 . As of September 30, 2019 , the Company has contributed $1.6 million to the plans. The components of net periodic benefit cost including service cost are reported in the line item “Other operating expenses” in the Condensed Consolidated Statement of Earnings. Ozark National and NIS have no defined benefit 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 plans are unfunded. The following table summarizes the components of net periodic benefit costs. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Interest cost $ 49 40 148 120 Amortization of prior service cost 13 26 39 78 Amortization of net loss 61 38 183 113 Net periodic benefit cost $ 123 104 370 311 As the plans are not funded, there is no expected return on plan assets shown in the net periodic benefit cost table above. The Company expects to contribute minimal amounts to the plans in 2019 . Ozark National and NIS do not offer postemployment benefits. The components of net periodic benefit cost including service cost are reported in the line item “Other operating expenses” in the Condensed Consolidated Statement of Earnings.

Segment and Other Operating Inf

Segment and Other Operating Information	9 Months Ended
	Sep. 30, 2019
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, annuities, and acquired businesses. These segments are organized based on product types, geographic marketing areas, and business groupings. Ozark National and NIS have been combined into the segment "Acquired Businesses" given its inter-related marketing and sales approach which consists of a coordinated sale of a non-participating whole life insurance product (Ozark National) and a mutual fund investment product (NIS). As disclosed in the Company's filings for 2018, National Western discontinued accepting applications for the Company's international products from residents of other countries in May 2018. A fifth category "All Others" primarily includes investments and earnings of non-operating subsidiaries as well as other remaining investments and assets not otherwise supporting specific segment operations. A summary of segment information as of September 30, 2019 and December 31, 2018 for the Condensed Consolidated Balance Sheet items and for the three and nine months ended September 30, 2019 and September 30, 2018 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: September 30, 2019 Domestic International Annuities Acquired Businesses All Totals (In thousands) Deferred policy acquisition costs, sales inducements, and value of business acquired $ 123,348 217,307 501,745 142,751 — 985,151 Total segment assets 1,330,245 1,166,237 8,324,924 970,890 374,254 12,166,550 Future policy benefits 1,144,243 874,980 7,442,615 700,888 — 10,162,726 Other policyholder liabilities 16,811 13,512 85,290 14,102 — 129,715 December 31, 2018 Domestic International Annuities Acquired Businesses All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 122,661 243,518 609,239 — — 975,418 Total segment assets 1,215,864 1,211,036 8,791,463 — 370,118 11,588,481 Future policy benefits 1,039,150 894,891 7,810,245 — — 9,744,286 Other policyholder liabilities 17,439 20,381 97,874 — — 135,694 Condensed Consolidated Statement of Earnings: Three Months Ended September 30, 2019 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 11,387 25,065 5,336 20,151 — 61,939 Net investment income 12,885 6,872 78,000 6,300 4,399 108,456 Other revenues 49 25 8 2,318 873 3,273 Total revenues 24,321 31,962 83,344 28,769 5,272 173,668 Life and other policy benefits 6,099 5,074 12,550 16,195 — 39,918 Amortization of deferred policy acquisition costs and value of business acquired 2,181 (3,047 ) 21,688 2,176 — 22,998 Universal life and annuity contract interest 11,267 14,637 33,541 — — 59,445 Other operating expenses 5,297 5,493 8,596 4,772 1,655 25,813 Federal income taxes (benefit) (107 ) 1,970 1,388 1,133 725 5,109 Total expenses 24,737 24,127 77,763 24,276 2,380 153,283 Segment earnings (loss) $ (416 ) 7,835 5,581 4,493 2,892 20,385 Nine Months Ended September 30, 2019 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 32,897 74,905 16,061 54,332 — 178,195 Net investment income 51,379 30,165 270,727 16,283 19,657 388,211 Other revenues 113 79 80 6,049 7,331 13,652 Total revenues 84,389 105,149 286,868 76,664 26,988 580,058 Life and other policy benefits 13,850 10,195 33,856 43,863 — 101,764 Amortization of deferred policy acquisition costs and value of business acquired 8,898 11,195 60,150 6,330 — 86,573 Universal life and annuity contract interest 45,693 33,967 120,840 — — 200,500 Other operating expenses 14,437 14,278 25,478 12,348 10,655 77,196 Federal income taxes (benefit) 306 7,192 9,426 2,836 3,307 23,067 Total expenses 83,184 76,827 249,750 65,377 13,962 489,100 Segment earnings (loss) $ 1,205 28,322 37,118 11,287 13,026 90,958 Three Months Ended September 30, 2018 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 10,060 26,839 5,597 — — 42,496 Net investment income 26,912 19,731 123,525 — 5,385 175,553 Other revenues 11 5 11 — 5,084 5,111 Total revenues 36,983 46,575 129,133 — 10,469 223,160 Life and other policy benefits 5,839 6,609 (6,704 ) — — 5,744 Amortization of deferred acquisition costs 2,978 6,307 17,490 — — 26,775 Universal life and annuity contract interest 22,355 30,596 71,194 — — 124,145 Other operating expenses 5,215 4,982 8,719 — 5,121 24,037 Federal income taxes (benefit) 122 (322 ) 7,714 — 1,101 8,615 Total expenses 36,509 48,172 98,413 — 6,222 189,316 Segment earnings (loss) $ 474 (1,597 ) 30,720 — 4,247 33,844 Nine Months Ended September 30, 2018 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 29,775 82,218 18,042 — — 130,035 Net investment income 41,131 32,305 263,983 — 20,681 358,100 Other revenues 12 39 48 — 15,297 15,396 Total revenues 70,918 114,562 282,073 — 35,978 503,531 Life and other policy benefits 15,751 16,872 11,984 — — 44,607 Amortization of deferred acquisition costs 8,362 21,023 60,688 — — 90,073 Universal life and annuity contract interest 29,401 37,046 116,869 — — 183,316 Other operating expenses 15,368 15,991 25,741 — 15,367 72,467 Federal income taxes (benefit) 405 4,701 13,290 — 4,100 22,496 Total expenses 69,287 95,633 228,572 — 19,467 412,959 Segment earnings (loss) $ 1,631 18,929 53,501 — 16,511 90,572 Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 61,939 42,496 178,195 130,035 Net investment income 108,456 175,553 388,211 358,100 Other revenues 3,273 5,111 13,652 15,396 Realized gains (losses) on investments (502 ) 2,275 3,702 5,582 Total condensed consolidated premiums and other revenues $ 173,166 225,435 583,760 509,113 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 5,109 8,615 23,067 22,496 Taxes on realized gains (losses) on investments (106 ) 478 777 1,172 Total condensed consolidated Federal income taxes $ 5,003 9,093 23,844 23,668 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Net Earnings : Total segment earnings $ 20,385 33,844 90,958 90,572 Realized gains (losses) on investments, net of taxes (396 ) 1,797 2,925 4,410 Total condensed consolidated net earnings $ 19,989 35,641 93,883 94,982 September 30, December 31, 2019 2018 (In thousands) Assets : Total segment assets $ 12,166,550 11,588,481 Other unallocated assets 393,044 343,210 Total condensed consolidated assets $ 12,559,594 11,931,691

Share-Based Payments

Share-Based Payments	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Payments	SHARE-BASED PAYMENTS The Company had a stock and incentive plan ("1995 Plan") which provided for the grant of any or all of the following types of awards to eligible employees: (1) stock options, including incentive stock options and nonqualified stock options; (2) stock appreciation rights ("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 was 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 an amended and restated 2008 Plan ("Incentive Plan"), which extended the term of the 2008 Plan for ten years from the date of stockholder approval. 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. At the end of 2018, all stock options granted under the 1995 Plan and 2008 Plan had been exercised, forfeited, or expired. SARs granted prior to 2016 vest 20% annually following three years of service following the grant date. Employee SARs granted 2016 forward vest 33.3% annually following one year of service from the date of the grant. Directors' stock option 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 provided stock option holders the additional alternative of selling shares acquired through the exercise of options directly back to the Company. Option holders could 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. There are currently no stock options issued and outstanding. 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" in equity compensation plans. 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 which are paid at the closing price of the Company's Class A common shares on the vesting date. PSU awards covering the three year measurement period ended December 31, 2018 were paid out in the first quarter of 2019. The performance factor during the measurement period used to determine compensation payouts was 93.86% of the pre-defined metric target. 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. No awards were granted to officers and directors during the nine months ended September 30, 2019 and 2018 . The Company uses the current fair value method to measure compensation costs for awards granted under the share-based plans. As of September 30, 2019 and December 31, 2018 , the liability balance was $9.5 million and $11.9 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, 2019 291,000 — $ — Exercised — — $ — Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at September 30, 2019 291,000 — $ — Liability Awards SAR RSU PSU Other Share/Unit Awards: Balance at January 1, 2019 89,443 13,170 19,122 Exercised — (3,051 ) (5,426 ) Forfeited (1,230 ) (307 ) (616 ) Granted — — — Balance at September 30, 2019 88,213 9,812 13,080 Stock options, SARs, RSUs, and PSUs shown as forfeited in the above tables represent vested and unvested awards not exercised by plan participants upon their termination from the Company in accordance with the expiration provisions of the awards. The total intrinsic value of share-based compensation exercised was $2.5 million and $2.2 million for the nine months ended September 30, 2019 and 2018 , respectively. The total share-based compensation paid was $2.5 million and $2.2 million for the nine months ended September 30, 2019 and 2018 , respectively. The total fair value of stock options, SARs, RSUs, and PSUs vested during the nine months ended September 30, 2019 and 2018 was $3.0 million and $0.8 million , respectively. No cash amounts were received from the exercise of stock options under the Plans during the periods reported on. The following table summarizes information about SARs outstanding at September 30, 2019 . There were no options outstanding as of September 30, 2019 . SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: $132.56 19,568 2.2 years 19,568 $210.22 25,000 4.2 years 16,400 $216.48 11,649 6.4 years 11,649 $311.16 10,162 7.4 years 6,753 $310.55 203 7.6 years 135 $334.34 9,557 8.2 years 3,180 $303.77 12,074 9.2 years — Totals 88,213 57,685 Aggregate intrinsic value (in thousands) $ 4,716 $ 4,216 The aggregate intrinsic value in the table above is based on the closing Class A stock price of $ 268.37 per share on September 30, 2019 . In estimating the fair value of the share-based awards outstanding at September 30, 2019 and December 31, 2018 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. September 30, December 31, Expected term 2.2 to 9.2 years 3.0 to 10.0 years Expected volatility weighted-average 21.93 % 22.14 % Expected dividend yield 0.13 % 0.12 % Risk-free rate weighted-average 1.70 % 2.58 % The Company reviewed the contractual term relative to the SARs 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 $1.5 million and $0.1 million for the three and nine months ended September 30, 2019 and $1.7 million and $2.4 million for the three and nine months ended September 30, 2018 , respectively. The related tax expense/(benefit) recognized was $(0.3) million and $0.0 million for the three and nine months ended September 30, 2019 and $(0.4) million and $(0.5) million for the three and nine months ended September 30, 2018, respectively. As of September 30, 2019 , the total compensation cost related to non-vested share-based awards not yet recognized was $3.2 million . This amount is expected to be recognized over a weighted-average period of 1.3 years . The Company recognizes compensation cost over the graded vesting periods.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (A) Legal Proceedings In the normal course of business, the Company is involved or may become involved in various legal actions in which claims for alleged economic and punitive damages have been or may be asserted, some for substantial amounts. In recent years, carriers offering life insurance and annuity products have faced litigation, including class action lawsuits, alleging improper product design, improper sales practices, and similar claims. Given the uncertainty involved in these types of actions, the ability to make a reliable evaluation of the likelihood of an unfavorable outcome or an estimate of the amount of or range of potential loss is endemic to the particular circumstances and evolving developments of each individual matter on its own merits. On 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 challenged the directors’ oversight of insurance sales to non-U.S. residents and alleged 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 sought 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 were baseless and without merit, will continue to vigorously defend this lawsuit, and was awarded reimbursement of legal costs and expenses from plaintiff as detailed below. 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 would grant the defendants' Pleas and asked 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 his 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 his July 5, 2018 filings on July 25, 2018, and defendants filed their response to plaintiff's supplemental briefing on July 27, 2018. On August 8, 2018 the Court issued an Order denying plaintiff's Motion to Vacate. Pursuant to the Court’s instructions, on October 5, 2018, defendants filed an Order Granting Application for Expenses. Defendants then filed a Motion for Entry of Final Judgment and a Request for Submission Date on Motion for Entry of Final Judgment on October 11, 2018, which the Court set as October 30, 2018. Plaintiff filed his Objection to Proposed Final Judgment and Objection to Proposed Order on Attorneys’ Fees on October 25, 2018, to which defendants filed a response on October 30, 2018. On November 11, 2018, the Court issued its Final Judgment: ordering Plaintiff to pay the companies $1,314,054 for reasonable and necessary fees and expenses; denying Plaintiff’s Motion to Transfer Venue, and; dismissing Plaintiff’s counterclaim. Plaintiff has appealed the Court’s Final Judgment and that appeal is pending before the First District Court of Appeals in Houston, TX. In April of 2019, National Western defended a two week jury trial in which it was alleged that the Company committed actionable Financial Elder Abuse in its issuance of a $100,000 equity indexed annuity to the Plaintiff in the case of Williams v Pantaleoni et al , Case No. 17CV03462, Butte County California Superior Court. The Court entered an Amended Judgment on the Jury Verdict on July 27, 2019 against the Company in the amount of $14,949 for economic damages and $2.92 million in non-economic and punitive damages. Plaintiff is also pursuing an award of attorney's fees and costs in the amount of approximately $3 million . The Company vigorously disputes the verdicts and the amounts awarded, and in furtherance of such filed a Motion for Judgment Notwithstanding Jury Verdict and a Motion for New Trial, both of which were rejected by the Court. On September 9, 2019, the Company filed its Notice of Appeal. 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 National Western 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 cooperated 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 $73.8 million in commitments to fund new loans and $0.4 million in commitments to extend credit relating to existing loans at September 30, 2019 . The Company evaluates each customer's creditworthiness on a case-by-case basis.

Investments

Investments	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS (A) Investment Gains and Losses The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Available for sale debt securities: Realized gains on disposal $ 197 1,191 2,548 3,212 Realized losses on disposal — (6 ) (84 ) (6 ) Held to maturity debt securities: Realized gains on disposal 1,246 1,090 2,197 2,395 Realized losses on disposal — — — (19 ) Real estate gains (losses) — — 6,888 — Totals $ 1,443 2,275 11,549 5,582 Disposals in the held to maturity category during the periods shown 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. Net real estate gains for the nine months ended September 30, 2019 primarily pertain to the Company's sale of its nursing home operations in Reno, Nevada and San Marcos, Texas as well as a property sold located in Austin, Texas. The sale of the Reno nursing home was completed effective February 1, 2019 and a gain of $5.7 million was realized on the sale of the land and building associated with the operation. The sale of the San Marcos nursing home was concluded effective May 1, 2019 and the Company recorded a loss of $(2.0) million associated with the sale of the land and building of this operation (an impairment loss on this property of $(2.2) million was recorded in the quarter ended March 31, 2019). The sale of the Company's prior home office completed effective June 7, 2019 realized a gain on the sale of $3.2 million . The Company uses the specific identification method in computing realized gains and losses. For the three months ended September 30, 2019 and 2018 the percentage of gains on bonds due to the call of securities was 99.6% and 97.3% , respectively. For the nine months ended September 30, 2019 and 2018 the percentage of gains on bonds due to the call of securities was 81.0% and 98.7% , respectively. This includes calls out of the Company's available for sale portfolio of debt securities. The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ (1,943 ) 3 (7,840 ) 9 Portion of loss (gain) recognized in comprehensive income (2 ) (3 ) (7 ) (9 ) Net impairment losses on debt securities recognized in earnings (1,945 ) — (7,847 ) — Totals $ (1,945 ) — (7,847 ) — The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss. Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 627 Reductions for securities sold during current period — — — 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 September 30, 2019 . Debt Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 105,201 1,883 — 107,084 U.S. Treasury 3,777 156 — 3,933 States and political subdivisions 441,257 21,832 (53 ) 463,036 Foreign governments 1,149 56 — 1,205 Public utilities 913,445 36,887 (11 ) 950,321 Corporate 4,654,880 211,359 (446 ) 4,865,793 Commercial mortgage-backed 3,039 57 — 3,096 Residential mortgage-backed 1,098,612 41,789 (381 ) 1,140,020 Asset-backed 3,099 78 — 3,177 Totals $ 7,224,459 314,097 (891 ) 7,537,665 The table below presents amortized costs and fair values of debt securities available for sale at September 30, 2019 . Debt Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 100,595 6,178 (2 ) 106,771 Foreign governments 9,981 244 — 10,225 Public utilities 76,916 3,914 — 80,830 Corporate 2,960,272 133,840 (5,343 ) 3,088,769 Commercial mortgage-backed 28,902 1,375 — 30,277 Residential mortgage-backed 13,621 1,213 (107 ) 14,727 Asset-backed 75,520 2,347 — 77,867 Totals $ 3,265,807 149,111 (5,452 ) 3,409,466 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2018 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,341 116 — 1,457 States and political subdivisions 457,404 9,764 (2,376 ) 464,792 Public utilities 930,629 5,928 (12,944 ) 923,613 Corporate 4,715,775 27,652 (87,043 ) 4,656,384 Residential mortgage-backed 1,176,216 13,771 (11,932 ) 1,178,055 Asset-backed 3,889 88 (10 ) 3,967 Totals $ 7,285,254 57,319 (114,305 ) 7,228,268 The table below presents amortized costs and fair values of securities available for sale at December 31, 2018 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 570 — (4 ) 566 Foreign governments 9,974 30 — 10,004 Public utilities 82,943 1,045 (517 ) 83,471 Corporate 2,893,221 15,473 (79,638 ) 2,829,056 Residential mortgage-backed 15,947 937 (84 ) 16,800 Asset-backed 5,969 193 — 6,162 Totals $ 3,008,624 17,678 (80,243 ) 2,946,059 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 September 30, 2019 . The Company monitors the investment portfolio on an ongoing basis for any changes in issuer facts and circumstances that could result in future impairments. During the three and nine months ended September 30, 2019 , the Company recorded $1.9 million and $7.8 million in other-than-temporary impairments on debt securities on one corporate credit, Weatherford International bonds. Weatherford announced its intention to file Chapter 11 bankruptcy on May 10, 2019 which caused its market price to drop considerably. Subsequently, on July 1, 2019, Weatherford filed for bankruptcy. There were no other-than-temporary impairments recorded during the three and nine months ended September 30, 2018. Unrealized losses for debt securities held to maturity and debt securities available for sale decreased during the first nine months of 2019 from the levels in 2018 primarily due to the downward movement in market interest rates during this period (which increases the market price of debt securities). Debt Securities balances at September 30, 2019 include Ozark National holdings of $290.3 million in held to maturity and $428.2 million in available for sale. As part of the acquisition effective January 31, 2019 the Company employed purchase accounting procedures in accordance with GAAP which revalued the acquired investment portfolio to their fair values as of the date of the acquisition. These fair values became the book values for Ozark National from that point going forward. Accordingly, unrealized gains and losses for the Ozark National debt securities represent the changes subsequent to the purchase accounting book values established at January 31, 2019. 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 September 30, 2019 . 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 $ — — 1,689 (53 ) 1,689 (53 ) Public utilities 2,417 (11 ) — — 2,417 (11 ) Corporate 9,220 (95 ) 20,213 (351 ) 29,433 (446 ) Residential mortgage-backed 449 (3 ) 46,891 (378 ) 47,340 (381 ) Total $ 12,086 (109 ) 68,793 (782 ) 80,879 (891 ) 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 September 30, 2019 . 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 $ 474 (2 ) — — 474 (2 ) Corporate 14,860 (139 ) 27,763 (5,204 ) 42,623 (5,343 ) Residential mortgage-backed — — 798 (107 ) 798 (107 ) Total $ 15,334 $ (141 ) $ 28,561 $ (5,311 ) $ 43,895 $ (5,452 ) 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, 2018 . 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 $ 88,253 (2,124 ) 10,645 (252 ) 98,898 (2,376 ) Public utilities 396,980 (8,371 ) 98,632 (4,573 ) 495,612 (12,944 ) Corporate 2,144,969 (55,125 ) 650,401 (31,918 ) 2,795,370 (87,043 ) Residential mortgage-backed 202,986 (2,032 ) 311,374 (9,900 ) 514,360 (11,932 ) Asset-backed — — 1,976 (10 ) 1,976 (10 ) Total $ 2,833,188 (67,652 ) 1,073,028 (46,653 ) 3,906,216 (114,305 ) 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, 2018 . 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 $ 566 (4 ) — — 566 (4 ) Public utilities 38,903 (517 ) — — 38,903 (517 ) Corporate 1,468,953 (44,575 ) 442,798 (35,063 ) 1,911,751 (79,638 ) Residential mortgage-backed — — 878 (84 ) 878 (84 ) Total $ 1,508,422 (45,096 ) 443,676 (35,147 ) 1,952,098 (80,243 ) Debt securities. The gross unrealized losses for debt securities are made up of 43 individual issues, or 2.9% of the total debt securities held by the Company at September 30, 2019 . The market value of these bonds as a percent of amortized cost approximates 95.2% . Of the 43 securities, 19 , or 44.2% , fall in the 12 months or greater aging category; and 39 were rated investment grade at September 30, 2019 . The amortized cost and fair value of investments in debt securities at September 30, 2019 , 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 $ 154,863 156,596 276,185 278,504 Due after 1 year through 5 years 1,180,262 1,218,209 3,039,310 3,136,264 Due after 5 years through 10 years 1,539,500 1,615,794 2,305,328 2,434,780 Due after 10 years 273,139 295,996 498,886 541,824 3,147,764 3,286,595 6,119,709 6,391,372 Mortgage and asset-backed securities 118,043 122,871 1,104,750 1,146,293 Total $ 3,265,807 3,409,466 7,224,459 7,537,665 (C) Transfer of Securities During the three and nine months ended September 30, 2019 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 Condensed 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 September 30, 2019 or 2018 and as a result all interest income was recognized at September 30, 2019 and 2018 . The following table represents the mortgage loan portfolio by loan-to-value ratio. September 30, 2019 December 31, 2018 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 60,867 27.1 $ 66,371 32.6 50% to 60% 50,397 22.4 22,610 11.1 60% to 70% 97,368 43.3 102,857 50.4 70% to 80% 16,091 7.2 6,642 3.3 80% to 90% — — 5,375 2.6 Greater than 90% — — — — Gross balance 224,723 100.0 203,855 100.0 Allowance for possible losses (675 ) (0.3 ) (675 ) (0.3 ) Totals $ 224,048 99.7 $ 203,180 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. September 30, 2019 December 31, 2018 (In thousands) Balance, beginning of period $ 675 650 Provision — 25 Releases — — Balance, end of period $ 675 675 The Company's direct investments in real estate are not a significant portion of its total investment portfolio and totaled approximately $34.7 million and $35.7 million at September 30, 2019 and December 31, 2018 , respectively. Included in the amount at September 30, 2019 is a surface parking property owned by Ozark National which it leases. The value of this real estate investment was appraised at $4.3 million at January 31, 2019 as part of the purchase accounting done as of that date. The Company recognized operating income on real estate properties of approximately $2.1 million and $1.7 million for the first nine months of 2019 and 2018

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Sep. 30, 2019
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. The Company’s Level 3 liabilities consist of share-based compensation obligations, certain product-related embedded derivatives, and contingent consideration in the acquisition of businesses. Valuations are estimated based on non-binding broker prices or internally developed valuation models or methodologies, discounted cash flow models and other similar techniques. The following tables set forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,409,466 — 3,409,466 — Equity securities 19,462 19,462 — — Derivatives, index options 106,364 — — 106,364 Total assets $ 3,535,292 19,462 3,409,466 106,364 Policyholder account balances (a) $ 110,272 — — 110,272 Other liabilities (b) 13,418 — — 13,418 Total liabilities $ 123,690 — — 123,690 During the three and nine months ended September 30, 2019 , the Company made no transfers into or out of Levels 1, 2 or 3. December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,946,059 — 2,946,059 — Equity securities 17,491 17,491 — — Derivatives, index options 14,684 — — 14,684 Total assets $ 2,978,234 17,491 2,946,059 14,684 Policyholder account balances (a) $ 44,781 — — 44,781 Other liabilities (b) 11,923 — — 11,923 Total liabilities $ 56,704 — — 56,704 (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 and contingent consideration for businesses acquired. The following tables present, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,409,466 — 3,409,466 — Priced internally — — — — Subtotal 3,409,466 — 3,409,466 — Equity securities: Priced by third-party vendors 19,462 19,462 — — Priced internally — — — — Subtotal 19,462 19,462 — — Derivatives, index options: Priced by third-party vendors 106,364 — — 106,364 Priced internally — — — — Subtotal 106,364 — — 106,364 Total $ 3,535,292 19,462 3,409,466 106,364 Percent of total 100.0 % 0.6 % 96.4 % 3.0 % December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,946,059 — 2,946,059 — Priced internally — — — — Subtotal 2,946,059 — 2,946,059 — Equity securities, available for sale: Priced by third-party vendors 17,491 17,491 — — Priced internally — — — — Subtotal 17,491 17,491 — — Derivatives, index options: Priced by third-party vendors 14,684 — — 14,684 Priced internally — — — — Subtotal 14,684 — — 14,684 Total $ 2,978,234 17,491 2,946,059 14,684 Percent of total 100.0 % 0.6 % 98.9 % 0.5 % 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 September 30, 2019 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2019 $ — — 89,900 89,900 112,500 Total realized and unrealized gains (losses): Included in net income — — 3,296 3,296 (1,978 ) Purchases, sales, issuances and settlements, net: Purchases — — 19,872 19,872 19,872 Sales — — — — — Issuances — — — — — Settlements — — (6,704 ) (6,704 ) (6,704 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 106,364 106,364 123,690 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 $ — — (2,020 ) (2,020 ) — Benefits and expenses — — — — (464 ) Total $ — — (2,020 ) (2,020 ) (464 ) Three Months Ended September 30, 2018 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2018 $ — — 102,007 102,007 133,013 Total realized and unrealized gains (losses): Included in net income — — 69,683 69,683 65,316 Purchases, sales, issuances and settlements, net: Purchases — — 19,026 19,026 19,026 Sales — — — — — Issuances — — — — — Settlements — — (54,281 ) (54,281 ) (54,519 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 136,435 136,435 162,836 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 $ — — 65,927 65,927 — Benefits and expenses — — — — 67,640 Total $ — — 65,927 65,927 67,640 Nine Months Ended September 30, 2019 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2019 $ — — 14,684 14,684 56,704 Total realized and unrealized gains (losses): Included in net income — — 63,127 63,127 37,255 Purchases, sales, issuances and settlements, net: Purchases — — 56,494 56,494 56,494 Sales — — — — — Issuances — — — — 3,700 Settlements — — (27,941 ) (27,941 ) (30,463 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 106,364 106,364 123,690 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 $ — — 42,794 42,794 — Other operating expenses — — — — 43,111 Total $ — — 42,794 42,794 43,111 Nine Months Ended September 30, 2018 Debt Securities, Available for Sale Equity Securities, Available for Sale 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 — — 35,581 35,581 32,496 Purchases, sales, issuances and settlements, net: Purchases — — 63,303 63,303 63,303 Sales — — — — — Issuances — — — — — Settlements — — (157,180 ) (157,180 ) (159,364 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 136,435 136,435 162,836 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 $ — — 42,200 42,200 — Other operating expenses — — — — 44,621 Total $ — — 42,200 42,200 44,621 The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: September 30, 2019 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 106,364 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 106,364 Policyholder account balances $ 110,272 Deterministic cash flow model Projected option cost Other liabilities, share-based compensation 9,453 Black-Scholes model Expected term, Forfeiture assumptions Other liabilities, contingent consideration on businesses acquired 3,965 Probabilistic Method Projected renewal premium Total liabilities $ 123,690 December 31, 2018 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 14,684 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 14,684 Policyholder account balances $ 44,781 Deterministic cash flow model Projected option cost Other liabilities 11,923 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 56,704 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: September 30, 2019 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,224,459 7,537,665 — 7,536,101 1,564 Debt securities available for sale 3,409,466 3,409,466 — 3,409,466 — Cash and cash equivalents 171,509 171,509 171,509 — — Mortgage loans 224,048 227,159 — — 227,159 Policy loans 80,272 127,874 — — 127,874 Other loans 13,864 14,028 — — 14,028 Derivatives, index options 106,364 106,364 — — 106,364 Equity securities 19,462 19,462 19,462 — — Life interest in Libbie Shearn Moody Trust 8,692 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,087,363 5,827,205 — — 5,827,205 Immediate annuity and supplemental contracts 405,516 432,789 — — 432,789 Contingent consideration on businesses acquired 3,965 3,965 — — 3,965 December 31, 2018 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,285,254 7,228,268 — 7,226,362 1,906 Debt securities available for sale 2,946,059 2,946,059 — 2,946,059 — Cash and cash equivalents 131,976 131,976 131,976 — — Mortgage loans 203,180 202,762 — — 202,762 Policy loans 54,724 90,802 — — 90,802 Other loans 12,272 12,709 — — 12,709 Derivatives, index options 14,684 14,684 — — 14,684 Equity securities 17,491 17,491 17,491 — — Life interest in Libbie Shearn Moody Trust 8,692 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,455,642 6,403,007 — — 6,403,007 Immediate annuity and supplemental contracts 407,413 415,726 — — 415,726 Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Derivative Investments

Derivative Investments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Investments	DERIVATIVE INVESTMENTS Fixed-index products provide traditional fixed annuities and universal life contracts with the option to have credited interest rates linked in part to an underlying equity index or a combination of equity indices. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Condensed Consolidated Balance Sheets. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting in which future policy benefits are recorded as discounted debt instruments and accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The Company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its fixed-index annuity and life products. The index options act as hedges to match closely the returns on the underlying index or indices. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index or indices. As a result, changes to policyholders' liabilities are substantially offset by changes in the value of the options. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash may be paid to the Company depending on the performance of the underlying index or indices and terms of the contract. The Company does not elect hedge accounting relative to these derivative instruments. The index options are reported at fair value in the accompanying Condensed Consolidated Financial Statements. The changes in the values of the index options and the changes in the policyholder liabilities are both reflected in the Condensed Consolidated Statements of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Condensed Consolidated Statements of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Condensed Consolidated Statements of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the Company does not expect any of its counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which may further reduce the Company's credit exposure. The tables below present the fair value of derivative instruments as of September 30, 2019 and December 31, 2018 , respectively. September 30, 2019 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 $ 106,364 Fixed-index products Universal Life and Annuity Contracts $ 110,272 Total $ 106,364 $ 110,272 December 31, 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 $ 14,684 Fixed-index products Universal Life and Annuity Contracts $ 44,781 Total $ 14,684 $ 44,781 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended September 30, 2019 and 2018 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 3,296 69,683 Fixed-index products Universal life and annuity contract interest 3,533 (63,602 ) $ 6,829 6,081 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2019 and 2018 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 63,127 35,581 Fixed-index products Universal life and annuity contract interest (36,937 ) (30,074 ) $ 26,190 5,507

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS Effective January 31, 2019, the Company acquired Ozark National Life Insurance Company (“Ozark National”) and N.I.S. Financial Services, Inc. (“NIS”) following the receipt of regulatory approvals. NWLGI and National Western paid cash in an aggregate amount of approximately $205.4 million in exchange for all of the outstanding stock of Ozark National (wholly owned by National Western) and NIS (wholly owned by NWLGI). In addition to the cash price paid, National Western has a contingent liability for an "earn-out payment" based upon the persistency of Ozark National's in force business that was acquired achieving thresholds as specified in the Stock Purchase Agreement ("Agreement"). The earn-out payment from the Company to the seller per the Agreement has a maximum limit of $5.0 million . Using a probabilistic method for valuing contingent consideration, the Company at January 31, 2019 recorded a liability of $3.7 million representing the estimated fair value of the additional consideration estimated to be paid as part of the acquisition. The contingent consideration was subsequently reported at its fair value of $4.0 million as of September 30, 2019, with the changes in fair value during the three and eights months ended September 30, 2019 recorded through general expenses. In addition to the purchase price, the Company incurred $3.3 million of acquisition-related costs in 2019, and an additional $1.0 million in acquisition-related costs during the year ended December 31, 2018. In accordance with GAAP, these costs are included in other operating expenses in the Condensed Consolidated Statements of Earnings and are not considered a part of the purchase price. The acquisition has been accounted for in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations . Purchase accounting, as defined by ASC 805, requires that the assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The fair values shown below were determined based on management’s best estimates, employing fair valuation methodologies commonly utilized in preparing financial statements in accordance with GAAP, and are subject to revision for one year following the acquisition date. The excess of the purchase price paid above net tangible assets acquired has been assigned to intangible assets and goodwill. The following table presents the fair values of the net assets acquired as of January 31, 2019. January 31, 2019 Assets Fair value (In thousands) Debt securities held to maturity $ 261,059 Debt securities available for sale 400,719 Policy loans 28,128 Real estate 4,600 Cash and cash equivalents 16,275 Accrued investment income 6,116 Value of business acquired 145,768 Reinsurance recoverables 21,895 Other intangible assets 9,600 Other assets acquired 12,075 Total assets acquired 906,235 Liabilities Traditional life reserves 691,297 Other policyholder liabilities 13,867 Other liabilities acquired 5,840 711,004 Net identifiable assets acquired 195,231 Goodwill 13,864 Net assets acquired $ 209,095 Identifiable Intangible Assets The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019: Fair Value Weighted-Average Amortization Period (In thousands) Trademarks / trade names $ 2,800 15 Internally developed software 3,800 7 Insurance licenses 3,000 NA $ 9,600 The value of trademarks was estimated using the relief from royalty method, based on the assumption that in lieu of ownership, an organization would be willing to pay a royalty in order to receive the related benefits of using the brand. The value of insurance licenses was estimated using the market approach to value, based on values paid for licenses in recent shell company transactions. The value of internally developed software was estimated using the replacement cost method. These identified intangible assets will be amortized using a straight-line method over their respective amortization periods and will be reviewed annually for impairments. Value of Business Acquired ("VOBA") VOBA is a purchase accounting convention for life insurance companies in business combinations based upon an actuarial determination of the difference between the fair value of policyholder liabilities acquired and the same policyholder liabilities measured in accordance with the acquiring company's accounting policies. The difference, referred to as VOBA, is an intangible asset subject to periodic amortization. As of the January 31, 2019 acquisition date, the VOBA balance recorded was $145.8 million . Based upon the remaining unamortized balance as of September 30, 2019 , the expected amortization for the next five years is as follows: Expected Amortization (In thousands) Remainder of 2019 $ 1,961 2020 $ 7,446 2021 $ 7,068 2022 $ 6,739 2023 $ 6,445 Financial Information Subsequent to the acquisition date of January 31, 2019, Ozark National and NIS total revenues of $77.1 million and net earnings of $11.7 million have been included in Condensed Consolidated Statements of Earnings for the eight months ended September 30, 2019 . These results for segment reporting purposes have been combined in the Acquired Businesses segment. The following unaudited comparative pro forma total revenues and net earnings represent Condensed Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS by the Company been effective January 1, 2018. Three Months Ended September 30, Nine Months Ended September 30 2019 2018 2019 2018 (In thousands) Total revenues $ 173,166 254,174 593,402 595,964 Net earnings $ 19,989 39,986 95,341 107,726 The pro forma amounts shown above include the estimated total revenues and net earnings of the acquired businesses for each period incorporating amortization of identifiable intangible assets acquired and fair value adjustments to acquired invested assets and traditional life insurance reserves.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
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)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	Recent accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts . This update is aimed at improving the Codification as it relates to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. Amendments include the following: A. Require insurance entity to (1) review and update assumptions used to measure cash flows at least annually (with changes recognized in net income) and (2) update discount rate assumption at each reporting date (with changes recognized in other comprehensive income). B. Require insurance entity to measure all market risk benefits associated with deposit (i.e. account balance) contracts at fair value, with change in fair value attributable to change in instrument-specific credit risk recognized in other comprehensive income. C. Simplify amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins and require those balances be amortized on constant level basis over expected term of related contract. Deferred acquisition costs are required to be written off for unexpected contract terminations but are not subject to impairment test. D. Require insurance entity to add disclosures of disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities, and deferred acquisition costs. Insurance entity must also disclose information about significant inputs, judgments, assumptions, and methods used in measurement, including changes in those inputs, judgments, and assumptions, and the effect of those changes on measurement. These updates are required to be applied retrospectively to the earliest period presented in the financial statements for periods beginning after December 15, 2021, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In August 2018, FASB issued ASU 2018-13 F air Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure requirements for Fair Value Measurement. This update removed disclosures for 1) amount of and reasons for transfers between Level 1 and Level 2 for fair value hierarchy, 2) policy for timing of transfers between levels, 3) valuation process for Level 3 fair value measurements. This update also added disclosure requirement as follows: 1) changes in unrealized gains and losses for the period included in OCI for recurring Level 3 fair value measurements held at end of reporting period; 2) range and weighted average (or other reasonable quantitative measurement) of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments will be effective for interim periods beginning after December 15, 2019. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. In August 2018, FASB issued ASU 2018-14 Compensation-Retirement Benefits - Defined Benefit Plans-General (Subtopic 715-20) Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . This update removed disclosures for 1) amounts in AOCI expected to be recognized as components of net periodic benefit cost over the next fiscal year, 2) amount and timing of plan assets expected to be returned to the employer, 3) related party disclosures about the amount of future annual benefits covered by insurance and annuity contracts and significant transactions between the employer or related parties and the plan, 4) the effects of a one-percentage-point change in assumed health care cost trend rates on the (a) aggregate of the service and interest cost components of the net periodic benefit costs and (b) benefit obligation for postretirement health care benefits. This update also added disclosures as follow: 1) weighted-average interest crediting rates for cash balance plans and other plans with promised crediting rates, 2) explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. Finally, this update clarified that the following information for defined benefit pension plans should be disclosed: 1) projected benefit obligation (PBO) and fair value of plan assets for plans with PBO in excess of plan assets, 2) accumulated benefit obligation (ABO) and fair value of plan assets for plans with ABOs in excess of plan assets. The amendments will be effective for fiscal periods ending after December 31, 2020. Adoption of the guidance is not expected to have a material effect on the Company’s results of operations or financial position. In April 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The new guidance simplifies the current two-step goodwill impairment test by eliminating Step 2 of the test. The new guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. The amendments will be effective for annual goodwill impairment tests occurring after December 15, 2019. Adoption of this guidance is not expected to have a material effect on the Company’s results of operations or financial position. In June 2016, the FASB released ASU 2016-13, Financial Instruments-Credit Losses , which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model. The objective of the expected credit loss model is for the reporting entity to recognize its estimate of expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. On April 25, 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The amendments in this Update add clarification and correction to ASU 2016-13 around accrued interest, transfers between classifications or categories for loans and debt securities, consideration of recoveries in estimating allowances, reinsurance recoveries, consideration of prepayments and estimated costs to sell when foreclosure is probable. The guidance for these pronouncements is effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained income. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. Recent accounting pronouncements adopted In August 2018, the SEC released a final rule updating disclosure requirements, Disclosure Update and Simplification, which resulted in the additional interim disclosure of an analysis of changes in stockholders’ equity to be required for the current and comparative quarter and year-to-date interim periods. Registrants are required to provide an analysis of changes in each caption of stockholders’ equity and noncontrolling interests, which will be accompanied by dividends per share and in the aggregate for each class of shares. The disclosure must be presented in the form of a reconciliation, either as a separate statement or in the footnotes. The adoption of this in 2019 did not have a material effect on the results of operations or financial position of the Company as this information in year-to-date format is already provided. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities , which amends the amortization period for certain purchased callable debt securities held at a premium. The amortization period for premiums is being shortened to the earliest call date. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The adoption of this ASU in 2019 did not have a material effect on the results of operations or financial position of the Company. In February 2016, the FASB issued new guidance on leasing transactions (ASU 2016-02, Leases - Topic 842). The new guidance is effective for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and requires a modified retrospective transition approach (subject to optional practical expedients). The new guidance requires a lessee to recognize assets and liabilities for leases with lease terms of more than 12 months. Leases would be classified as finance or operating leases and both types of leases will be recognized on the balance sheet. Lessor accounting will remain largely unchanged from current guidance except for certain targeted changes. The new guidance will also require new qualitative and quantitative disclosures. Early adoption is permitted. The Company elected to early adopt this guidance in 2018. There was no material impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU in 2018. 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 Pr_2

Consolidation and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income	The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and nine months ended September 30, 2019 and September 30, 2018 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Other net investment gains (losses) $ 198 1,185 2,465 3,206 Net OTTI losses recognized in earnings (1,945 ) — (7,847 ) — Earnings before Federal income taxes (1,747 ) 1,185 (5,382 ) 3,206 Federal income taxes (367 ) 249 (1,130 ) 673 Net earnings $ (1,380 ) 936 (4,252 ) 2,533

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share	Three Months Ended September 30, 2019 2018 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 19,989 35,641 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed earnings $ 19,989 35,641 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 19,424 565 34,633 1,008 Net earnings $ 19,424 565 34,633 1,008 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 $ 5.65 2.83 10.08 5.04 Diluted Earnings Per Share $ 5.65 2.83 10.08 5.04 Nine Months Ended September 30, 2019 2018 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 93,883 94,982 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 93,883 94,982 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 91,228 2,655 92,296 2,686 Net income $ 91,228 2,655 92,296 2,686 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 $ 26.55 13.28 26.86 13.43 Diluted Earnings Per Share $ 26.55 13.28 26.86 13.43

Pension and Other Postretirem_2

Pension and Other Postretirement Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Defined Benefit Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of net periodic benefit costs	The following table summarizes the components of net periodic benefit cost. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 24 28 72 84 Interest cost 210 225 630 675 Expected return on plan assets (271 ) (325 ) (815 ) (975 ) Amortization of prior service cost — — — — Amortization of net loss 165 131 495 393 Net periodic benefit cost $ 128 59 382 177
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 Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 126 90 377 270 Interest cost 256 213 768 639 Amortization of prior service cost 14 15 44 45 Amortization of net loss 348 176 1,044 528 Net periodic benefit cost $ 744 494 2,233 1,482
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of net periodic benefit costs	The following table summarizes the components of net periodic benefit costs. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Interest cost $ 49 40 148 120 Amortization of prior service cost 13 26 39 78 Amortization of net loss 61 38 183 113 Net periodic benefit cost $ 123 104 370 311

Segment and Other Operating I_2

Segment and Other Operating Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summary of segment information, by quarter	A summary of segment information as of September 30, 2019 and December 31, 2018 for the Condensed Consolidated Balance Sheet items and for the three and nine months ended September 30, 2019 and September 30, 2018 for the Condensed Consolidated Statement of Earnings is provided below. Condensed Consolidated Balance Sheet Items: September 30, 2019 Domestic International Annuities Acquired Businesses All Totals (In thousands) Deferred policy acquisition costs, sales inducements, and value of business acquired $ 123,348 217,307 501,745 142,751 — 985,151 Total segment assets 1,330,245 1,166,237 8,324,924 970,890 374,254 12,166,550 Future policy benefits 1,144,243 874,980 7,442,615 700,888 — 10,162,726 Other policyholder liabilities 16,811 13,512 85,290 14,102 — 129,715 December 31, 2018 Domestic International Annuities Acquired Businesses All Totals (In thousands) Deferred policy acquisition costs and sales inducements $ 122,661 243,518 609,239 — — 975,418 Total segment assets 1,215,864 1,211,036 8,791,463 — 370,118 11,588,481 Future policy benefits 1,039,150 894,891 7,810,245 — — 9,744,286 Other policyholder liabilities 17,439 20,381 97,874 — — 135,694 Condensed Consolidated Statement of Earnings: Three Months Ended September 30, 2019 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 11,387 25,065 5,336 20,151 — 61,939 Net investment income 12,885 6,872 78,000 6,300 4,399 108,456 Other revenues 49 25 8 2,318 873 3,273 Total revenues 24,321 31,962 83,344 28,769 5,272 173,668 Life and other policy benefits 6,099 5,074 12,550 16,195 — 39,918 Amortization of deferred policy acquisition costs and value of business acquired 2,181 (3,047 ) 21,688 2,176 — 22,998 Universal life and annuity contract interest 11,267 14,637 33,541 — — 59,445 Other operating expenses 5,297 5,493 8,596 4,772 1,655 25,813 Federal income taxes (benefit) (107 ) 1,970 1,388 1,133 725 5,109 Total expenses 24,737 24,127 77,763 24,276 2,380 153,283 Segment earnings (loss) $ (416 ) 7,835 5,581 4,493 2,892 20,385 Nine Months Ended September 30, 2019 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 32,897 74,905 16,061 54,332 — 178,195 Net investment income 51,379 30,165 270,727 16,283 19,657 388,211 Other revenues 113 79 80 6,049 7,331 13,652 Total revenues 84,389 105,149 286,868 76,664 26,988 580,058 Life and other policy benefits 13,850 10,195 33,856 43,863 — 101,764 Amortization of deferred policy acquisition costs and value of business acquired 8,898 11,195 60,150 6,330 — 86,573 Universal life and annuity contract interest 45,693 33,967 120,840 — — 200,500 Other operating expenses 14,437 14,278 25,478 12,348 10,655 77,196 Federal income taxes (benefit) 306 7,192 9,426 2,836 3,307 23,067 Total expenses 83,184 76,827 249,750 65,377 13,962 489,100 Segment earnings (loss) $ 1,205 28,322 37,118 11,287 13,026 90,958 Three Months Ended September 30, 2018 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 10,060 26,839 5,597 — — 42,496 Net investment income 26,912 19,731 123,525 — 5,385 175,553 Other revenues 11 5 11 — 5,084 5,111 Total revenues 36,983 46,575 129,133 — 10,469 223,160 Life and other policy benefits 5,839 6,609 (6,704 ) — — 5,744 Amortization of deferred acquisition costs 2,978 6,307 17,490 — — 26,775 Universal life and annuity contract interest 22,355 30,596 71,194 — — 124,145 Other operating expenses 5,215 4,982 8,719 — 5,121 24,037 Federal income taxes (benefit) 122 (322 ) 7,714 — 1,101 8,615 Total expenses 36,509 48,172 98,413 — 6,222 189,316 Segment earnings (loss) $ 474 (1,597 ) 30,720 — 4,247 33,844 Nine Months Ended September 30, 2018 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) Premiums and contract revenues $ 29,775 82,218 18,042 — — 130,035 Net investment income 41,131 32,305 263,983 — 20,681 358,100 Other revenues 12 39 48 — 15,297 15,396 Total revenues 70,918 114,562 282,073 — 35,978 503,531 Life and other policy benefits 15,751 16,872 11,984 — — 44,607 Amortization of deferred acquisition costs 8,362 21,023 60,688 — — 90,073 Universal life and annuity contract interest 29,401 37,046 116,869 — — 183,316 Other operating expenses 15,368 15,991 25,741 — 15,367 72,467 Federal income taxes (benefit) 405 4,701 13,290 — 4,100 22,496 Total expenses 69,287 95,633 228,572 — 19,467 412,959 Segment earnings (loss) $ 1,631 18,929 53,501 — 16,511 90,572
Reconciliation of segment premiums and other revenues to condensed consolidated financial statements	Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 61,939 42,496 178,195 130,035 Net investment income 108,456 175,553 388,211 358,100 Other revenues 3,273 5,111 13,652 15,396 Realized gains (losses) on investments (502 ) 2,275 3,702 5,582 Total condensed consolidated premiums and other revenues $ 173,166 225,435 583,760 509,113
Reconciliation of segment federal income taxes to condensed consolidated financial statements	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 5,109 8,615 23,067 22,496 Taxes on realized gains (losses) on investments (106 ) 478 777 1,172 Total condensed consolidated Federal income taxes $ 5,003 9,093 23,844 23,668
Reconciliation of segment net earnings to condensed consolidated financial statements	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Net Earnings : Total segment earnings $ 20,385 33,844 90,958 90,572 Realized gains (losses) on investments, net of taxes (396 ) 1,797 2,925 4,410 Total condensed consolidated net earnings $ 19,989 35,641 93,883 94,982
Reconciliation of segment assets to condensed consolidated financial statements	September 30, December 31, 2019 2018 (In thousands) Assets : Total segment assets $ 12,166,550 11,588,481 Other unallocated assets 393,044 343,210 Total condensed consolidated assets $ 12,559,594 11,931,691

Share-Based Payments (Tables)

Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of shares available for grant and stock option activity	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, 2019 291,000 — $ — Exercised — — $ — Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at September 30, 2019 291,000 — $ —
Schedule of activity	Liability Awards SAR RSU PSU Other Share/Unit Awards: Balance at January 1, 2019 89,443 13,170 19,122 Exercised — (3,051 ) (5,426 ) Forfeited (1,230 ) (307 ) (616 ) Granted — — — Balance at September 30, 2019 88,213 9,812 13,080
Summary of information about stock options and SARs outstanding	The following table summarizes information about SARs outstanding at September 30, 2019 . There were no options outstanding as of September 30, 2019 . SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: $132.56 19,568 2.2 years 19,568 $210.22 25,000 4.2 years 16,400 $216.48 11,649 6.4 years 11,649 $311.16 10,162 7.4 years 6,753 $310.55 203 7.6 years 135 $334.34 9,557 8.2 years 3,180 $303.77 12,074 9.2 years — Totals 88,213 57,685 Aggregate intrinsic value (in thousands) $ 4,716 $ 4,216
Summary of assumptions employed using Black-Scholes option pricing model	In estimating the fair value of the share-based awards outstanding at September 30, 2019 and December 31, 2018 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. September 30, December 31, Expected term 2.2 to 9.2 years 3.0 to 10.0 years Expected volatility weighted-average 21.93 % 22.14 % Expected dividend yield 0.13 % 0.12 % Risk-free rate weighted-average 1.70 % 2.58 %

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Available for sale debt securities: Realized gains on disposal $ 197 1,191 2,548 3,212 Realized losses on disposal — (6 ) (84 ) (6 ) Held to maturity debt securities: Realized gains on disposal 1,246 1,090 2,197 2,395 Realized losses on disposal — — — (19 ) Real estate gains (losses) — — 6,888 — Totals $ 1,443 2,275 11,549 5,582
Schedule of net impairment losses recognized in earnings	The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ (1,943 ) 3 (7,840 ) 9 Portion of loss (gain) recognized in comprehensive income (2 ) (3 ) (7 ) (9 ) Net impairment losses on debt securities recognized in earnings (1,945 ) — (7,847 ) — Totals $ (1,945 ) — (7,847 ) —
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 September 30, 2019 Nine Months Ended September 30, 2019 Year Ended (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 627 627 627 Reductions for securities sold during current period — — — 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 debt securities, available-for-sale securities	The table below presents amortized costs and fair values of securities available for sale at December 31, 2018 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 570 — (4 ) 566 Foreign governments 9,974 30 — 10,004 Public utilities 82,943 1,045 (517 ) 83,471 Corporate 2,893,221 15,473 (79,638 ) 2,829,056 Residential mortgage-backed 15,947 937 (84 ) 16,800 Asset-backed 5,969 193 — 6,162 Totals $ 3,008,624 17,678 (80,243 ) 2,946,059 The table below presents amortized costs and fair values of debt securities available for sale at September 30, 2019 . Debt Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 100,595 6,178 (2 ) 106,771 Foreign governments 9,981 244 — 10,225 Public utilities 76,916 3,914 — 80,830 Corporate 2,960,272 133,840 (5,343 ) 3,088,769 Commercial mortgage-backed 28,902 1,375 — 30,277 Residential mortgage-backed 13,621 1,213 (107 ) 14,727 Asset-backed 75,520 2,347 — 77,867 Totals $ 3,265,807 149,111 (5,452 ) 3,409,466
Schedule of held-to-maturity securities	The table below presents amortized costs and fair values of securities held to maturity at December 31, 2018 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. Treasury $ 1,341 116 — 1,457 States and political subdivisions 457,404 9,764 (2,376 ) 464,792 Public utilities 930,629 5,928 (12,944 ) 923,613 Corporate 4,715,775 27,652 (87,043 ) 4,656,384 Residential mortgage-backed 1,176,216 13,771 (11,932 ) 1,178,055 Asset-backed 3,889 88 (10 ) 3,967 Totals $ 7,285,254 57,319 (114,305 ) 7,228,268 The table below presents amortized costs and fair values of debt securities held to maturity at September 30, 2019 . Debt Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 105,201 1,883 — 107,084 U.S. Treasury 3,777 156 — 3,933 States and political subdivisions 441,257 21,832 (53 ) 463,036 Foreign governments 1,149 56 — 1,205 Public utilities 913,445 36,887 (11 ) 950,321 Corporate 4,654,880 211,359 (446 ) 4,865,793 Commercial mortgage-backed 3,039 57 — 3,096 Residential mortgage-backed 1,098,612 41,789 (381 ) 1,140,020 Asset-backed 3,099 78 — 3,177 Totals $ 7,224,459 314,097 (891 ) 7,537,665
Schedule of gross unrealized losses and fair values of debt securities, 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 debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2019 . 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 $ 474 (2 ) — — 474 (2 ) Corporate 14,860 (139 ) 27,763 (5,204 ) 42,623 (5,343 ) Residential mortgage-backed — — 798 (107 ) 798 (107 ) Total $ 15,334 $ (141 ) $ 28,561 $ (5,311 ) $ 43,895 $ (5,452 ) 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, 2018 . 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 $ 566 (4 ) — — 566 (4 ) Public utilities 38,903 (517 ) — — 38,903 (517 ) Corporate 1,468,953 (44,575 ) 442,798 (35,063 ) 1,911,751 (79,638 ) Residential mortgage-backed — — 878 (84 ) 878 (84 ) Total $ 1,508,422 (45,096 ) 443,676 (35,147 ) 1,952,098 (80,243 )
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 debt securities by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2019 . 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 $ — — 1,689 (53 ) 1,689 (53 ) Public utilities 2,417 (11 ) — — 2,417 (11 ) Corporate 9,220 (95 ) 20,213 (351 ) 29,433 (446 ) Residential mortgage-backed 449 (3 ) 46,891 (378 ) 47,340 (381 ) Total $ 12,086 (109 ) 68,793 (782 ) 80,879 (891 ) December 31, 2018 . 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 $ 88,253 (2,124 ) 10,645 (252 ) 98,898 (2,376 ) Public utilities 396,980 (8,371 ) 98,632 (4,573 ) 495,612 (12,944 ) Corporate 2,144,969 (55,125 ) 650,401 (31,918 ) 2,795,370 (87,043 ) Residential mortgage-backed 202,986 (2,032 ) 311,374 (9,900 ) 514,360 (11,932 ) Asset-backed — — 1,976 (10 ) 1,976 (10 ) Total $ 2,833,188 (67,652 ) 1,073,028 (46,653 ) 3,906,216 (114,305 )
Investments classified by contractual maturity date	The amortized cost and fair value of investments in debt securities at September 30, 2019 , 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 $ 154,863 156,596 276,185 278,504 Due after 1 year through 5 years 1,180,262 1,218,209 3,039,310 3,136,264 Due after 5 years through 10 years 1,539,500 1,615,794 2,305,328 2,434,780 Due after 10 years 273,139 295,996 498,886 541,824 3,147,764 3,286,595 6,119,709 6,391,372 Mortgage and asset-backed securities 118,043 122,871 1,104,750 1,146,293 Total $ 3,265,807 3,409,466 7,224,459 7,537,665
Schedule of mortgage loans by loan-to-value ratio	The following table represents the mortgage loan portfolio by loan-to-value ratio. September 30, 2019 December 31, 2018 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 60,867 27.1 $ 66,371 32.6 50% to 60% 50,397 22.4 22,610 11.1 60% to 70% 97,368 43.3 102,857 50.4 70% to 80% 16,091 7.2 6,642 3.3 80% to 90% — — 5,375 2.6 Greater than 90% — — — — Gross balance 224,723 100.0 203,855 100.0 Allowance for possible losses (675 ) (0.3 ) (675 ) (0.3 ) Totals $ 224,048 99.7 $ 203,180 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. September 30, 2019 December 31, 2018 (In thousands) Balance, beginning of period $ 675 650 Provision — 25 Releases — — Balance, end of period $ 675 675

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
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: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 3,409,466 — 3,409,466 — Equity securities 19,462 19,462 — — Derivatives, index options 106,364 — — 106,364 Total assets $ 3,535,292 19,462 3,409,466 106,364 Policyholder account balances (a) $ 110,272 — — 110,272 Other liabilities (b) 13,418 — — 13,418 Total liabilities $ 123,690 — — 123,690 During the three and nine months ended September 30, 2019 , the Company made no transfers into or out of Levels 1, 2 or 3. December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,946,059 — 2,946,059 — Equity securities 17,491 17,491 — — Derivatives, index options 14,684 — — 14,684 Total assets $ 2,978,234 17,491 2,946,059 14,684 Policyholder account balances (a) $ 44,781 — — 44,781 Other liabilities (b) 11,923 — — 11,923 Total liabilities $ 56,704 — — 56,704 (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 and contingent consideration for businesses acquired.
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: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 3,409,466 — 3,409,466 — Priced internally — — — — Subtotal 3,409,466 — 3,409,466 — Equity securities: Priced by third-party vendors 19,462 19,462 — — Priced internally — — — — Subtotal 19,462 19,462 — — Derivatives, index options: Priced by third-party vendors 106,364 — — 106,364 Priced internally — — — — Subtotal 106,364 — — 106,364 Total $ 3,535,292 19,462 3,409,466 106,364 Percent of total 100.0 % 0.6 % 96.4 % 3.0 % December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,946,059 — 2,946,059 — Priced internally — — — — Subtotal 2,946,059 — 2,946,059 — Equity securities, available for sale: Priced by third-party vendors 17,491 17,491 — — Priced internally — — — — Subtotal 17,491 17,491 — — Derivatives, index options: Priced by third-party vendors 14,684 — — 14,684 Priced internally — — — — Subtotal 14,684 — — 14,684 Total $ 2,978,234 17,491 2,946,059 14,684 Percent of total 100.0 % 0.6 % 98.9 % 0.5 %
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 September 30, 2019 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2019 $ — — 89,900 89,900 112,500 Total realized and unrealized gains (losses): Included in net income — — 3,296 3,296 (1,978 ) Purchases, sales, issuances and settlements, net: Purchases — — 19,872 19,872 19,872 Sales — — — — — Issuances — — — — — Settlements — — (6,704 ) (6,704 ) (6,704 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 106,364 106,364 123,690 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 $ — — (2,020 ) (2,020 ) — Benefits and expenses — — — — (464 ) Total $ — — (2,020 ) (2,020 ) (464 ) Three Months Ended September 30, 2018 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at July 1, 2018 $ — — 102,007 102,007 133,013 Total realized and unrealized gains (losses): Included in net income — — 69,683 69,683 65,316 Purchases, sales, issuances and settlements, net: Purchases — — 19,026 19,026 19,026 Sales — — — — — Issuances — — — — — Settlements — — (54,281 ) (54,281 ) (54,519 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 136,435 136,435 162,836 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 $ — — 65,927 65,927 — Benefits and expenses — — — — 67,640 Total $ — — 65,927 65,927 67,640 Nine Months Ended September 30, 2019 Debt Securities, Available for Sale Equity Securities Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2019 $ — — 14,684 14,684 56,704 Total realized and unrealized gains (losses): Included in net income — — 63,127 63,127 37,255 Purchases, sales, issuances and settlements, net: Purchases — — 56,494 56,494 56,494 Sales — — — — — Issuances — — — — 3,700 Settlements — — (27,941 ) (27,941 ) (30,463 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 106,364 106,364 123,690 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 $ — — 42,794 42,794 — Other operating expenses — — — — 43,111 Total $ — — 42,794 42,794 43,111 Nine Months Ended September 30, 2018 Debt Securities, Available for Sale Equity Securities, Available for Sale 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 — — 35,581 35,581 32,496 Purchases, sales, issuances and settlements, net: Purchases — — 63,303 63,303 63,303 Sales — — — — — Issuances — — — — — Settlements — — (157,180 ) (157,180 ) (159,364 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 136,435 136,435 162,836 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 $ — — 42,200 42,200 — Other operating expenses — — — — 44,621 Total $ — — 42,200 42,200 44,621
Schedule of quantitative information of Level 3 assets	The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: September 30, 2019 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 106,364 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 106,364 Policyholder account balances $ 110,272 Deterministic cash flow model Projected option cost Other liabilities, share-based compensation 9,453 Black-Scholes model Expected term, Forfeiture assumptions Other liabilities, contingent consideration on businesses acquired 3,965 Probabilistic Method Projected renewal premium Total liabilities $ 123,690 December 31, 2018 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 14,684 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 14,684 Policyholder account balances $ 44,781 Deterministic cash flow model Projected option cost Other liabilities 11,923 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 56,704
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: September 30, 2019 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,224,459 7,537,665 — 7,536,101 1,564 Debt securities available for sale 3,409,466 3,409,466 — 3,409,466 — Cash and cash equivalents 171,509 171,509 171,509 — — Mortgage loans 224,048 227,159 — — 227,159 Policy loans 80,272 127,874 — — 127,874 Other loans 13,864 14,028 — — 14,028 Derivatives, index options 106,364 106,364 — — 106,364 Equity securities 19,462 19,462 19,462 — — Life interest in Libbie Shearn Moody Trust 8,692 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,087,363 5,827,205 — — 5,827,205 Immediate annuity and supplemental contracts 405,516 432,789 — — 432,789 Contingent consideration on businesses acquired 3,965 3,965 — — 3,965 December 31, 2018 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities held to maturity $ 7,285,254 7,228,268 — 7,226,362 1,906 Debt securities available for sale 2,946,059 2,946,059 — 2,946,059 — Cash and cash equivalents 131,976 131,976 131,976 — — Mortgage loans 203,180 202,762 — — 202,762 Policy loans 54,724 90,802 — — 90,802 Other loans 12,272 12,709 — — 12,709 Derivatives, index options 14,684 14,684 — — 14,684 Equity securities 17,491 17,491 17,491 — — Life interest in Libbie Shearn Moody Trust 8,692 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,455,642 6,403,007 — — 6,403,007 Immediate annuity and supplemental contracts 407,413 415,726 — — 415,726

Derivative Investments (Tables)

Derivative Investments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of derivative instruments	The tables below present the fair value of derivative instruments as of September 30, 2019 and December 31, 2018 , respectively. September 30, 2019 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 $ 106,364 Fixed-index products Universal Life and Annuity Contracts $ 110,272 Total $ 106,364 $ 110,272 December 31, 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 $ 14,684 Fixed-index products Universal Life and Annuity Contracts $ 44,781 Total $ 14,684 $ 44,781
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 September 30, 2019 and 2018 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 3,296 69,683 Fixed-index products Universal life and annuity contract interest 3,533 (63,602 ) $ 6,829 6,081 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2019 and 2018 . September 30, September 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ 63,127 35,581 Fixed-index products Universal life and annuity contract interest (36,937 ) (30,074 ) $ 26,190 5,507

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of fair value of net assets acquired	The following table presents the fair values of the net assets acquired as of January 31, 2019. January 31, 2019 Assets Fair value (In thousands) Debt securities held to maturity $ 261,059 Debt securities available for sale 400,719 Policy loans 28,128 Real estate 4,600 Cash and cash equivalents 16,275 Accrued investment income 6,116 Value of business acquired 145,768 Reinsurance recoverables 21,895 Other intangible assets 9,600 Other assets acquired 12,075 Total assets acquired 906,235 Liabilities Traditional life reserves 691,297 Other policyholder liabilities 13,867 Other liabilities acquired 5,840 711,004 Net identifiable assets acquired 195,231 Goodwill 13,864 Net assets acquired $ 209,095
Schedule of fair value of identifiable intangible assets acquired	The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019: Fair Value Weighted-Average Amortization Period (In thousands) Trademarks / trade names $ 2,800 15 Internally developed software 3,800 7 Insurance licenses 3,000 NA $ 9,600
Schedule of expected amortization of VOBA	Based upon the remaining unamortized balance as of September 30, 2019 , the expected amortization for the next five years is as follows: Expected Amortization (In thousands) Remainder of 2019 $ 1,961 2020 $ 7,446 2021 $ 7,068 2022 $ 6,739 2023 $ 6,445
Schedule of pro forma total revenues and net earnings	The following unaudited comparative pro forma total revenues and net earnings represent Condensed Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS by the Company been effective January 1, 2018. Three Months Ended September 30, Nine Months Ended September 30 2019 2018 2019 2018 (In thousands) Total revenues $ 173,166 254,174 593,402 595,964 Net earnings $ 19,989 39,986 95,341 107,726

Consolidation and Basis of Pr_3

Consolidation and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net investment gains (losses)	$ 1,443	$ 2,275	$ 11,549	$ 5,582
Net OTTI losses recognized in earnings	(1,945)	0	(7,847)	0
Earnings before Federal income taxes	24,992	44,734	117,727	118,650
Federal income taxes	5,003	9,093	23,844	23,668
Net earnings	19,989	35,641	93,883	94,982
Unrealized Gains and Losses on Available-for-sale Securities | Amount Reclassified From Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net investment gains (losses)	198	1,185	2,465	3,206
Net OTTI losses recognized in earnings	(1,945)	0	(7,847)	0
Earnings before Federal income taxes	(1,747)	1,185	(5,382)	3,206
Federal income taxes	(367)	249	(1,130)	673
Net earnings	$ (1,380)	$ 936	$ (4,252)	$ 2,533

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jan. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Dividends Payable [Line Items]
Extraordinary dividend paid	$ 102,700,000
National Western
Dividends Payable [Line Items]
Maximum dividend payment which may be paid without prior approval from Colorado Division of Insurance		$ 30,700,000				$ 30,700,000
Dividends declared and paid		4,000,000	$ 32,000,000	$ 3,000,000	$ 3,000,000	0	$ 0
Ozark National Life Insurance Company
Dividends Payable [Line Items]
Maximum dividend payment which may be paid without prior approval from Colorado Division of Insurance		$ 20,400,000				$ 20,400,000

Earnings Per Share (EPS Calcula

Earnings Per Share (EPS Calculation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 19,989	$ 35,641	$ 93,883	$ 94,982
Undistributed earnings	19,989	35,641	93,883	94,982
Allocation of net income:
Undistributed earnings	19,989	35,641	93,883	94,982
Net earnings	19,989	35,641	93,883	94,982
Class A
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	19,424	34,633	91,228	92,296
Dividends	0	0	0	0
Undistributed earnings	19,424	34,633	91,228	92,296
Allocation of net income:
Dividends	0	0	0	0
Undistributed earnings	19,424	34,633	91,228	92,296
Net earnings	$ 19,424	$ 34,633	$ 91,228	$ 92,296
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)	$ 5.65	$ 10.08	$ 26.55	$ 26.86
Diluted Earnings Per Share (in dollars per share)	$ 5.65	$ 10.08	$ 26.55	$ 26.86
Class B
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 565	$ 1,008	$ 2,655	$ 2,686
Dividends	0	0	0	0
Undistributed earnings	565	1,008	2,655	2,686
Allocation of net income:
Dividends	0	0	0	0
Undistributed earnings	565	1,008	2,655	2,686
Net earnings	$ 565	$ 1,008	$ 2,655	$ 2,686
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)	$ 2.83	$ 5.04	$ 13.28	$ 13.43
Diluted Earnings Per Share (in dollars per share)	$ 2.83	$ 5.04	$ 13.28	$ 13.43

Pension and Other Postretirem_3

Pension and Other Postretirement Plans (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)benefit_plan	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)benefit_plan	Sep. 30, 2018USD ($)	Dec. 31, 2007
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of non-qualified defined benefit pension plans | benefit_plan	3		3
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	$ 24	$ 28	$ 72	$ 84
Interest cost	210	225	630	675
Expected return on plan assets	(271)	(325)	(815)	(975)
Amortization of prior service cost	0	0	0	0
Amortization of net loss	165	131	495	393
Net periodic benefit cost	128	59	382	177
Minimum required contribution	400		400
Planned contributions remaining	0		0
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	126	90	377	270
Interest cost	256	213	768	639
Amortization of prior service cost	14	15	44	45
Amortization of net loss	348	176	1,044	528
Net periodic benefit cost	744	494	2,233	1,482
Company contributions to plan			1,600
Company expected contributions to plans in fiscal year	2,000		2,000
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	49	40	148	120
Amortization of prior service cost	13	26	39	78
Amortization of net loss	61	38	183	113
Net periodic benefit cost	$ 123	$ 104	$ 370	$ 311
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			10.00%

Segment and Other Operating I_3

Segment and Other Operating Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 12,559,594		$ 12,559,594		$ 11,931,691
Other policyholder liabilities	129,715		129,715		135,694
Condensed Consolidated Income Statements:
Premiums and contract revenues	61,939	$ 42,496	178,195	$ 130,035
Net investment income	108,456	175,553	388,211	358,100
Other revenues	3,273	5,111	13,652	15,396
Total revenues	173,166	225,435	583,760	509,113
Life and other policy benefits	39,918	5,744	101,764	44,607
Amortization of deferred policy acquisition costs and value of business acquired	22,998	26,775	86,573	90,073
Universal life and annuity contract interest	59,445	124,145	200,500	183,316
Other operating expenses	25,813	24,037	77,196	72,467
Total condensed consolidated Federal income taxes	5,003	9,093	23,844	23,668
Net earnings	19,989	35,641	93,883	94,982
Realized gains (losses) on investments	(502)	2,275	3,702	5,582
Segments
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	985,151		985,151		975,418
Total segment assets	12,166,550		12,166,550		11,588,481
Future policy benefits	10,162,726		10,162,726		9,744,286
Other policyholder liabilities	129,715		129,715		135,694
Condensed Consolidated Income Statements:
Premiums and contract revenues	61,939	42,496	178,195	130,035
Net investment income	108,456	175,553	388,211	358,100
Other revenues	3,273	5,111	13,652	15,396
Total revenues	173,668	223,160	580,058	503,531
Life and other policy benefits	39,918	5,744	101,764	44,607
Amortization of deferred policy acquisition costs and value of business acquired	22,998	26,775	86,573	90,073
Universal life and annuity contract interest	59,445	124,145	200,500	183,316
Other operating expenses	25,813	24,037	77,196	72,467
Total condensed consolidated Federal income taxes	5,109	8,615	23,067	22,496
Total expenses	153,283	189,316	489,100	412,959
Net earnings	20,385	33,844	90,958	90,572
Segments | Domestic Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	123,348		123,348		122,661
Total segment assets	1,330,245		1,330,245		1,215,864
Future policy benefits	1,144,243		1,144,243		1,039,150
Other policyholder liabilities	16,811		16,811		17,439
Condensed Consolidated Income Statements:
Premiums and contract revenues	11,387	10,060	32,897	29,775
Net investment income	12,885	26,912	51,379	41,131
Other revenues	49	11	113	12
Total revenues	24,321	36,983	84,389	70,918
Life and other policy benefits	6,099	5,839	13,850	15,751
Amortization of deferred policy acquisition costs and value of business acquired	2,181	2,978	8,898	8,362
Universal life and annuity contract interest	11,267	22,355	45,693	29,401
Other operating expenses	5,297	5,215	14,437	15,368
Total condensed consolidated Federal income taxes	(107)	122	306	405
Total expenses	24,737	36,509	83,184	69,287
Net earnings	(416)	474	1,205	1,631
Segments | International Life Insurance
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	217,307		217,307		243,518
Total segment assets	1,166,237		1,166,237		1,211,036
Future policy benefits	874,980		874,980		894,891
Other policyholder liabilities	13,512		13,512		20,381
Condensed Consolidated Income Statements:
Premiums and contract revenues	25,065	26,839	74,905	82,218
Net investment income	6,872	19,731	30,165	32,305
Other revenues	25	5	79	39
Total revenues	31,962	46,575	105,149	114,562
Life and other policy benefits	5,074	6,609	10,195	16,872
Amortization of deferred policy acquisition costs and value of business acquired	(3,047)	6,307	11,195	21,023
Universal life and annuity contract interest	14,637	30,596	33,967	37,046
Other operating expenses	5,493	4,982	14,278	15,991
Total condensed consolidated Federal income taxes	1,970	(322)	7,192	4,701
Total expenses	24,127	48,172	76,827	95,633
Net earnings	7,835	(1,597)	28,322	18,929
Segments | Annuities
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	501,745		501,745		609,239
Total segment assets	8,324,924		8,324,924		8,791,463
Future policy benefits	7,442,615		7,442,615		7,810,245
Other policyholder liabilities	85,290		85,290		97,874
Condensed Consolidated Income Statements:
Premiums and contract revenues	5,336	5,597	16,061	18,042
Net investment income	78,000	123,525	270,727	263,983
Other revenues	8	11	80	48
Total revenues	83,344	129,133	286,868	282,073
Life and other policy benefits	12,550	(6,704)	33,856	11,984
Amortization of deferred policy acquisition costs and value of business acquired	21,688	17,490	60,150	60,688
Universal life and annuity contract interest	33,541	71,194	120,840	116,869
Other operating expenses	8,596	8,719	25,478	25,741
Total condensed consolidated Federal income taxes	1,388	7,714	9,426	13,290
Total expenses	77,763	98,413	249,750	228,572
Net earnings	5,581	30,720	37,118	53,501
Segments | Acquired Businesses
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	142,751		142,751		0
Total segment assets	970,890		970,890		0
Future policy benefits	700,888		700,888		0
Other policyholder liabilities	14,102		14,102		0
Condensed Consolidated Income Statements:
Premiums and contract revenues	20,151	0	54,332	0
Net investment income	6,300	0	16,283	0
Other revenues	2,318	0	6,049	0
Total revenues	28,769	0	76,664	0
Life and other policy benefits	16,195	0	43,863	0
Amortization of deferred policy acquisition costs and value of business acquired	2,176	0	6,330	0
Universal life and annuity contract interest	0	0	0	0
Other operating expenses	4,772	0	12,348	0
Total condensed consolidated Federal income taxes	1,133	0	2,836	0
Total expenses	24,276	0	65,377	0
Net earnings	4,493	0	11,287	0
Segments | All Others
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	0		0		0
Total segment assets	374,254		374,254		370,118
Future policy benefits	0		0		0
Other policyholder liabilities	0		0		0
Condensed Consolidated Income Statements:
Premiums and contract revenues	0	0	0	0
Net investment income	4,399	5,385	19,657	20,681
Other revenues	873	5,084	7,331	15,297
Total revenues	5,272	10,469	26,988	35,978
Life and other policy benefits	0	0	0	0
Amortization of deferred policy acquisition costs and value of business acquired	0	0	0	0
Universal life and annuity contract interest	0	0	0	0
Other operating expenses	1,655	5,121	10,655	15,367
Total condensed consolidated Federal income taxes	725	1,101	3,307	4,100
Total expenses	2,380	6,222	13,962	19,467
Net earnings	2,892	4,247	13,026	16,511
Other unallocated
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	393,044		393,044		$ 343,210
Segment Reconciling Items
Condensed Consolidated Income Statements:
Taxes on realized gains (losses) on investments	(106)	478	777	1,172
Realized gains (losses) on investments, net of taxes	$ (396)	$ 1,797	$ 2,925	$ 4,410

Share-Based Payments (General D

Share-Based Payments (General Descriptions) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Jun. 20, 2008	Jun. 25, 2004
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				1 year
Period in force, from which option holders may elect to sell back acquired shares				90 days
Performance factor used to determine compensation payout		93.86%
Compensation cost not yet recognized	$ 9.5			$ 9.5		$ 11.9
Pre-tax compensation cost (benefit) recognized	1.5		$ 1.7	0.1	$ 2.4
Compensation cost (benefit), tax expense (benefit)	(0.3)		$ (0.4)	0	$ (0.5)
Compensation cost related to nonvested options not yet recognized	$ 3.2			$ 3.2
Weighted average period over which the compensation is expected to be recognized				1 year 3 months 18 days
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.01			$ 0.01		$ 0.01
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				1 year
1995 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars 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
Employee Stock Options and Stock Appreciation Rights (SARs), Granted Before 2016 | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Requisite service period of awards (in years)				3 years
Employee Stock Options and Stock Appreciation Rights (SARs) | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards (in years)				1 year
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				100.00%
Vesting period (in years)				3 years
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				3 years
Performance period (in years)				3 years
Vesting After Service Period, Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				33.30%
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 One | Employee Stock Options and Stock Appreciation Rights (SARs) | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				20.00%
Vesting After Service Period, Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				33.30%
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (in percentage)				33.30%
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%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Extended term (in years)				10 years

Share-Based Payments (Options a

Share-Based Payments (Options and Stock Appreciation Rights Outstanding) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
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		291,000
Shares/Awards
Opening Balance (in shares)			0
Exercised (in shares)			0
Forfeited (in shares)			0
Expired (in shares)			0
Granted (in shares)			0
Ending Balance (in shares)	0		0
Weighted-Average Exercise Price (usd per share)
Beginning Balance (in dollars per share)			$ 0
Exercised (in dollars per share)			0
Forfeited (in dollars per share)			0
Expired (in dollars per share)			0
Granted (in dollars per share)			0
Ending Balance (in dollars per share)	$ 0		$ 0
Liability Awards
Total intrinsic value of options exercised			$ 2,500,000	$ 2,200,000
Total share-based liabilities paid			2,500,000	2,200,000
Fair value of vested awards			3,000,000	800,000
Cash received from exercise of stock options	$ 0	$ 0	$ 0	$ 0
SAR
Liability Awards
Opening balance (in shares)			89,443
Exercised (in shares)			0
Forfeited (in shares)			(1,230)
Granted (in shares)			0
Closing balance (in shares)	88,213		88,213
RSU
Liability Awards
Opening balance (in shares)			13,170
Exercised (in shares)			(3,051)
Forfeited (in shares)			(307)
Granted (in shares)			0
Closing balance (in shares)	9,812		9,812
PSU
Liability Awards
Opening balance (in shares)			19,122
Exercised (in shares)			(5,426)
Forfeited (in shares)			(616)
Granted (in shares)			0
Closing balance (in shares)	13,080		13,080

Share-Based Payments (Exercise

Share-Based Payments (Exercise Range) (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	88,213
Number Outstanding, Aggregate intrinsic value | $	$ 4,716
Number Exercisable (in shares)	57,685
Options Exercisable, Aggregate intrinsic value | $	$ 4,216
Closing stock price (in dollars per share) | $ / shares	$ 268.37
SAR | 132.56
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	19,568
Weighted- Average Remaining Contractual Life	2 years 2 months 12 days
Number Exercisable (in shares)	19,568
Exercise price (in dollars per share) | $ / shares	$ 132.56
SAR | 210.22
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	25,000
Weighted- Average Remaining Contractual Life	4 years 2 months 12 days
Number Exercisable (in shares)	16,400
Exercise price (in dollars per share) | $ / shares	$ 210.22
SAR | 216.48
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	11,649
Weighted- Average Remaining Contractual Life	6 years 4 months 24 days
Number Exercisable (in shares)	11,649
Exercise price (in dollars per share) | $ / shares	$ 216.48
SAR | 311.16
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	10,162
Weighted- Average Remaining Contractual Life	7 years 4 months 24 days
Number Exercisable (in shares)	6,753
Exercise price (in dollars per share) | $ / shares	$ 311.16
SAR | 310.55
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	203
Weighted- Average Remaining Contractual Life	7 years 7 months 6 days
Number Exercisable (in shares)	135
Exercise price (in dollars per share) | $ / shares	$ 310.55
SAR | 334.34
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	9,557
Weighted- Average Remaining Contractual Life	8 years 2 months 12 days
Number Exercisable (in shares)	3,180
Exercise price (in dollars per share) | $ / shares	$ 334.34
SAR | 303.77
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	12,074
Weighted- Average Remaining Contractual Life	9 years 2 months 12 days
Number Exercisable (in shares)	0
Exercise price (in dollars per share) | $ / shares	$ 303.77

Share-Based Payments (Black Sch

Share-Based Payments (Black Scholes Option Pricing Model Assumptions) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.13%	0.12%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	2 years 2 months 12 days	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	9 years 2 months 12 days	10 years
Weighted-average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, weighted-average	21.93%	22.14%
Risk-free rate, weighted-average	1.70%	2.58%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Jul. 27, 2019	Nov. 11, 2018	Sep. 30, 2019	Apr. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Derivatives, index options			$ 106,364,000		$ 14,684,000
Williams v Pantaleoni et al
Loss Contingencies [Line Items]
Loss contingency, compensatory damages awarded	$ 14,949
Loss contingency, punitive damages awarded	$ 2,920,000
Loss contingency, damages sought			3,000,000
New Loans
Loss Contingencies [Line Items]
Other commitment			73,800,000
Existing Loans
Loss Contingencies [Line Items]
Other commitment			$ 400,000
Pending Litigation | National Western Life Insurance Company and National Western Life Group, Inc. v. Ross Rankin Moody et. al [Member]
Loss Contingencies [Line Items]
Loss contingency, damages awarded		$ 1,314,054
Equity index options | Williams v Pantaleoni et al
Loss Contingencies [Line Items]
Derivatives, index options				$ 100,000

Investments (Investment Gains a

Investments (Investment Gains and Losses) (Details) - USD ($) $ in Thousands	Jun. 07, 2019	May 01, 2019	Feb. 01, 2019	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Available for sale debt securities:
Realized gains on disposal				$ 197		$ 1,191	$ 2,548	$ 3,212
Realized losses on disposal				0		(6)	(84)	(6)
Held to maturity debt securities:
Realized gains on disposal				1,246		1,090	2,197	2,395
Realized losses on disposal				0		0	0	(19)
Real estate gains (losses)				0		0	6,888	0
Totals				$ 1,443		$ 2,275	$ 11,549	$ 5,582
Investments, percentage of gains on bonds, due to calls of securities (in percentage)				99.60%		97.30%	81.00%	98.70%
Total other-than-temporary impairment (“OTTI”) gains (losses)				$ (1,943)		$ 3	$ (7,840)	$ 9
Net OTTI losses recognized in earnings				(1,945)		0	(7,847)	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		627	627	$ 627
Reductions for securities sold during current period				0			0		0
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 (“OTTI”) gains (losses)				(1,943)		3	(7,840)	9
Portion of loss (gain) recognized in comprehensive income				(2)		(3)	(7)	(9)
Net OTTI losses recognized in earnings				$ (1,945)		$ 0	$ (7,847)	$ 0
Nursing Home Operations in Reno, Nevada
Held to maturity debt securities:
Real estate gains (losses)			$ 5,700
Nursing Home Operations, San Marcos, Texas
Held to maturity debt securities:
Real estate gains (losses)		$ (2,000)
Impairment loss					$ 2,200
Nursing Home Operations, Austin, TX
Held to maturity debt securities:
Real estate gains (losses)	$ 3,200

Investments (Securities Held to

Investments (Securities Held to Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Total	$ 7,224,459	$ 7,285,254
Gross Unrealized Gains	314,097	57,319
Gross Unrealized Losses	(891)	(114,305)
Fair Value	7,537,665	7,228,268
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	12,086	2,833,188
Less than 12 Months, Unrealized Losses	(109)	(67,652)
12 Months or Greater, Fair Value	68,793	1,073,028
12 Months or Greater, Unrealized Losses	(782)	(46,653)
Total, Fair Value	80,879	3,906,216
Total, Unrealized Losses	(891)	(114,305)
U.S. agencies
Schedule of Held-to-maturity Securities [Line Items]
Total	105,201
Gross Unrealized Gains	1,883
Gross Unrealized Losses	0
Fair Value	107,084
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0
U.S. Treasury
Schedule of Held-to-maturity Securities [Line Items]
Total	3,777	1,341
Gross Unrealized Gains	156	116
Gross Unrealized Losses	0	0
Fair Value	3,933	1,457
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	441,257	457,404
Gross Unrealized Gains	21,832	9,764
Gross Unrealized Losses	(53)	(2,376)
Fair Value	463,036	464,792
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	0	88,253
Less than 12 Months, Unrealized Losses	0	(2,124)
12 Months or Greater, Fair Value	1,689	10,645
12 Months or Greater, Unrealized Losses	(53)	(252)
Total, Fair Value	1,689	98,898
Total, Unrealized Losses	(53)	(2,376)
Foreign governments
Schedule of Held-to-maturity Securities [Line Items]
Total	1,149
Gross Unrealized Gains	56
Gross Unrealized Losses	0
Fair Value	1,205
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Total	913,445	930,629
Gross Unrealized Gains	36,887	5,928
Gross Unrealized Losses	(11)	(12,944)
Fair Value	950,321	923,613
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	2,417	396,980
Less than 12 Months, Unrealized Losses	(11)	(8,371)
12 Months or Greater, Fair Value	0	98,632
12 Months or Greater, Unrealized Losses	0	(4,573)
Total, Fair Value	2,417	495,612
Total, Unrealized Losses	(11)	(12,944)
Corporate
Schedule of Held-to-maturity Securities [Line Items]
Total	4,654,880	4,715,775
Gross Unrealized Gains	211,359	27,652
Gross Unrealized Losses	(446)	(87,043)
Fair Value	4,865,793	4,656,384
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	9,220	2,144,969
Less than 12 Months, Unrealized Losses	(95)	(55,125)
12 Months or Greater, Fair Value	20,213	650,401
12 Months or Greater, Unrealized Losses	(351)	(31,918)
Total, Fair Value	29,433	2,795,370
Total, Unrealized Losses	(446)	(87,043)
Commercial mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total	3,039
Gross Unrealized Gains	57
Gross Unrealized Losses	0
Fair Value	3,096
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0
Residential mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total	1,098,612	1,176,216
Gross Unrealized Gains	41,789	13,771
Gross Unrealized Losses	(381)	(11,932)
Fair Value	1,140,020	1,178,055
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	449	202,986
Less than 12 Months, Unrealized Losses	(3)	(2,032)
12 Months or Greater, Fair Value	46,891	311,374
12 Months or Greater, Unrealized Losses	(378)	(9,900)
Total, Fair Value	47,340	514,360
Total, Unrealized Losses	(381)	(11,932)
Asset-backed
Schedule of Held-to-maturity Securities [Line Items]
Total	3,099	3,889
Gross Unrealized Gains	78	88
Gross Unrealized Losses	0	(10)
Fair Value	3,177	3,967
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value		0
Less than 12 Months, Unrealized Losses		0
12 Months or Greater, Fair Value		1,976
12 Months or Greater, Unrealized Losses		(10)
Total, Fair Value		1,976
Total, Unrealized Losses	$ 0	$ (10)

Investments (Securities Availab

Investments (Securities Available for Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt securities:
Total	$ 3,265,807	$ 3,008,624
Gross Unrealized Gains	149,111	17,678
Gross Unrealized Losses	(5,452)	(80,243)
Fair Value	3,409,466	2,946,059
Fair Value
Less than 12 Months	15,334	1,508,422
12 Months or Greater	28,561	443,676
Total	43,895	1,952,098
Unrealized Losses
Less than 12 Months	(141)	(45,096)
12 Months or Greater	(5,311)	(35,147)
Total	(5,452)	(80,243)
States and political subdivisions
Debt securities:
Total	100,595	570
Gross Unrealized Gains	6,178	0
Gross Unrealized Losses	(2)	(4)
Fair Value	106,771	566
Fair Value
Less than 12 Months	474	566
12 Months or Greater	0	0
Total	474	566
Unrealized Losses
Less than 12 Months	(2)	(4)
12 Months or Greater	0	0
Total	(2)	(4)
Foreign governments
Debt securities:
Total	9,981	9,974
Gross Unrealized Gains	244	30
Gross Unrealized Losses	0	0
Fair Value	10,225	10,004
Public utilities
Debt securities:
Total	76,916	82,943
Gross Unrealized Gains	3,914	1,045
Gross Unrealized Losses	0	(517)
Fair Value	80,830	83,471
Fair Value
Less than 12 Months		38,903
12 Months or Greater		0
Total		38,903
Unrealized Losses
Less than 12 Months		(517)
12 Months or Greater		0
Total		(517)
Corporate
Debt securities:
Total	2,960,272	2,893,221
Gross Unrealized Gains	133,840	15,473
Gross Unrealized Losses	(5,343)	(79,638)
Fair Value	3,088,769	2,829,056
Fair Value
Less than 12 Months	14,860	1,468,953
12 Months or Greater	27,763	442,798
Total	42,623	1,911,751
Unrealized Losses
Less than 12 Months	(139)	(44,575)
12 Months or Greater	(5,204)	(35,063)
Total	(5,343)	(79,638)
Commercial mortgage-backed
Debt securities:
Total	28,902
Gross Unrealized Gains	1,375
Gross Unrealized Losses	0
Fair Value	30,277
Residential mortgage-backed
Debt securities:
Total	13,621	15,947
Gross Unrealized Gains	1,213	937
Gross Unrealized Losses	(107)	(84)
Fair Value	14,727	16,800
Fair Value
Less than 12 Months	0	0
12 Months or Greater	798	878
Total	798	878
Unrealized Losses
Less than 12 Months	0	0
12 Months or Greater	(107)	(84)
Total	(107)	(84)
Asset-backed
Debt securities:
Total	75,520	5,969
Gross Unrealized Gains	2,347	193
Gross Unrealized Losses	0	0
Fair Value	$ 77,867	$ 6,162

Investments (Unrealized Losses)

Investments (Unrealized Losses) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)security	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)security	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Securities, other-than-temporarily impaired	$ 1,900,000	$ 0	$ 7,800,000	$ 0
Debt securities, held to maturity	7,224,459,000		7,224,459,000		$ 7,285,254,000
Debt securities, available for sale	$ 3,409,466,000		$ 3,409,466,000		$ 2,946,059,000
Debt Securities
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of issues | security	43		43
Gross unrealized losses, percentage of total debt	2.90%		2.90%
Gross unrealized losses, market value as a percent of amortized cost	95.20%		95.20%
Gross unrealized losses, number of securities with maturities of 12 months or greater | security	19		19
Gross unrealized losses, number of securities with maturities of 12 months or greater (as a percentage)	44.20%		44.20%
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 | security	39		39
Ozark National Life Insurance Company
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Debt securities, held to maturity	$ 290,300,000		$ 290,300,000
Debt securities, available for sale	$ 428,200,000		$ 428,200,000

Investments (Contractual Maturi

Investments (Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities Available for Sale- Amortized Cost
Due in 1 year or less	$ 154,863
Due after 1 year through 5 years	1,180,262
Due after 5 years through 10 years	1,539,500
Due after 10 years	273,139
Amortized Cost	3,147,764
Mortgage and asset-backed securities	118,043
Total	3,265,807	$ 3,008,624
Debt Securities Available for Sale- Fair Value
Due in 1 year or less	156,596
Due after 1 year through 5 years	1,218,209
Due after 5 years through 10 years	1,615,794
Due after 10 years	295,996
Fair Value	3,286,595
Mortgage and asset-backed securities	122,871
Total	3,409,466	2,946,059
Debt Securities Held to Maturity - Amortized Costs
Due in 1 year or less	276,185
Due after 1 year through 5 years	3,039,310
Due after 5 years through 10 years	2,305,328
Due after 10 years	498,886
Amortized Cost	6,119,709
Mortgage and asset-backed securities	1,104,750
Total	7,224,459	7,285,254
Debt Securities Held to Maturity - Fair Value
Due in 1 year or less	278,504
Due after 1 year through 5 years	3,136,264
Due after 5 years through 10 years	2,434,780
Due after 10 years	541,824
Fair Value	6,391,372
Mortgage and asset-backed securities	1,146,293
Total	$ 7,537,665	$ 7,228,268

Investments (Mortgage Loans and

Investments (Mortgage Loans and Real Estate) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 224,723	$ 203,855
Allowance for possible losses, amount	(675)	(675)
Totals, amount	$ 224,048	$ 203,180
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	$ 675	$ 650
Provision	0	25
Releases	0	0
Balance, end of period	675	675
Less than 50%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 60,867	$ 66,371
Mortgage loans, percentage	27.10%	32.60%
50% to 60%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 50,397	$ 22,610
Mortgage loans, percentage	22.40%	11.10%
60% to 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 97,368	$ 102,857
Mortgage loans, percentage	43.30%	50.40%
70% to 80%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 16,091	$ 6,642
Mortgage loans, percentage	7.20%	3.30%
80% to 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 0	$ 5,375
Mortgage loans, percentage	0.00%	2.60%
Greater than 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount	$ 0	$ 0
Mortgage loans, percentage	0.00%	0.00%

Investments (Real Estate) (Deta

Investments (Real Estate) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jan. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Other long-term investments	$ 62,037			$ 56,851
Real Estate
Debt Securities, Available-for-sale [Line Items]
Other long-term investments	34,700			$ 35,700
Operating income from real estate	$ 2,100	$ 1,700
Ozark National Life Insurance Company | Real Estate
Debt Securities, Available-for-sale [Line Items]
Other long-term investments			$ 4,300

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available for sale	$ 3,409,466	$ 2,946,059
Equity securities	19,462	17,491
Derivatives, index options	106,364	14,684
Total assets	3,535,292	2,978,234
Policyholder account balances	110,272	44,781
Other liabilities	13,418	11,923
Total liabilities	$ 123,690	$ 56,704
Percent of total	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	19,462	17,491
Derivatives, index options	0	0
Total assets	19,462	17,491
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	$ 0
Percent of total	0.60%	0.60%
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available for sale	$ 3,409,466	$ 2,946,059
Equity securities	0	0
Derivatives, index options	0	0
Total assets	3,409,466	2,946,059
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	$ 0
Percent of total	96.40%	98.90%
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	106,364	14,684
Total assets	106,364	14,684
Policyholder account balances	110,272	44,781
Other liabilities	13,418	11,923
Total liabilities	$ 123,690	$ 56,704
Percent of total	3.00%	0.50%
Priced by Third-Party Vendors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available for sale	$ 3,409,466	$ 2,946,059
Equity securities	19,462	17,491
Derivatives, index options	106,364	14,684
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	19,462	17,491
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	3,409,466	2,946,059
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	106,364	14,684
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 Instr_3

Fair Value of Financial Instruments (Fair Value Measurements for Level 3 Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	$ 89,900	$ 102,007	$ 14,684	$ 194,731
Total realized and unrealized gains (losses):
Included in net income	3,296	69,683	63,127	35,581
Purchases	19,872	19,026	56,494	63,303
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(6,704)	(54,281)	(27,941)	(157,180)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	106,364	136,435	106,364	136,435
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:	(2,020)	65,927	42,794	42,200
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	112,500	133,013	56,704	226,401
Total realized and unrealized gains (losses):
Included in net income	(1,978)	65,316	37,255	32,496
Purchases	19,872	19,026	56,494	63,303
Sales	0	0	0	0
Issuances	0	0	3,700	0
Settlements	(6,704)	(54,519)	(30,463)	(159,364)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	123,690	162,836	123,690	162,836
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:	(464)	67,640	43,111	44,621
Debt Securities, Available for Sale
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Equity Securities
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Derivatives, Index Options
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	89,900	102,007	14,684	194,731
Total realized and unrealized gains (losses):
Included in net income	3,296	69,683	63,127	35,581
Purchases	19,872	19,026	56,494	63,303
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(6,704)	(54,281)	(27,941)	(157,180)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	106,364	136,435	106,364	136,435
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:	(2,020)	65,927	42,794	42,200
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:	(2,020)	65,927	42,794	42,200
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:	(2,020)	65,927	42,794	42,200
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:	(464)	67,640	43,111	44,621
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 Inst_2

Fair Values of Financial Instruments (Quantitative Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 3,535,292	$ 2,978,234
Liabilities, fair value disclosure	123,690	56,704
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	106,364	14,684
Liabilities, fair value disclosure	123,690	56,704
Derivatives, Index Options | Broker prices | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	106,364	14,684
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	110,272	44,781
Other liabilities, share-based compensation | Black-Scholes model | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	9,453	$ 11,923
Other liabilities, share-based compensation | Probabilistic Method | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	$ 3,965

Fair Values of Financial Inst_3

Fair Values of Financial Instruments (Fair Value by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Debt securities held to maturity	$ 7,537,665	$ 7,228,268
Debt securities, available for sale	3,409,466	2,946,059
Derivatives, index options	106,364	14,684
Equity securities	19,462	17,491
Carrying Values
ASSETS
Debt securities held to maturity	7,224,459	7,285,254
Debt securities, available for sale	3,409,466	2,946,059
Cash and cash equivalents	171,509	131,976
Mortgage loans	224,048	203,180
Policy loans	80,272	54,724
Other loans	13,864	12,272
Derivatives, index options	106,364	14,684
Equity securities	19,462	17,491
Life interest in Libbie Shearn Moody Trust	8,692	8,692
LIABILITIES
Deferred annuity contracts	7,087,363	7,455,642
Immediate annuity and supplemental contracts	405,516	407,413
Contingent consideration on businesses acquired	3,965
Fair Values
ASSETS
Debt securities held to maturity	7,537,665	7,228,268
Debt securities, available for sale	3,409,466	2,946,059
Cash and cash equivalents	171,509	131,976
Mortgage loans	227,159	202,762
Policy loans	127,874	90,802
Other loans	14,028	12,709
Derivatives, index options	106,364	14,684
Equity securities	19,462	17,491
Life interest in Libbie Shearn Moody Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	5,827,205	6,403,007
Immediate annuity and supplemental contracts	432,789	415,726
Contingent consideration on businesses acquired	3,965
Level 1
ASSETS
Debt securities held to maturity	0	0
Debt securities, available for sale	0	0
Cash and cash equivalents	171,509	131,976
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Equity securities	19,462	17,491
Life interest in Libbie Shearn Moody Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Contingent consideration on businesses acquired	0
Level 2
ASSETS
Debt securities held to maturity	7,536,101	7,226,362
Debt securities, available for sale	3,409,466	2,946,059
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 Libbie Shearn Moody Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Contingent consideration on businesses acquired	0
Level 3
ASSETS
Debt securities held to maturity	1,564	1,906
Debt securities, available for sale	0	0
Cash and cash equivalents	0	0
Mortgage loans	227,159	202,762
Policy loans	127,874	90,802
Other loans	14,028	12,709
Derivatives, index options	106,364	14,684
Equity securities	0	0
Life interest in Libbie Shearn Moody Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	5,827,205	6,403,007
Immediate annuity and supplemental contracts	432,789	$ 415,726
Contingent consideration on businesses acquired	$ 3,965

Derivative Investments (Balance

Derivative Investments (Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 106,364	$ 14,684
Liability Derivatives	110,272	44,781
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	106,364	14,684
Liability Derivatives	110,272	44,781
Derivatives not designated as hedging instruments | Equity index options | Derivatives, Index Options
Derivatives, Fair Value [Line Items]
Asset Derivatives	106,364	14,684
Derivatives not designated as hedging instruments | Fixed-index products | Universal Life and Annuity Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 110,272	$ 44,781

Derivative Investments (Stateme

Derivative Investments (Statements of Earnings) (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 6,829	$ 6,081	$ 26,190	$ 5,507
Equity index options | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	3,296	69,683	63,127	35,581
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	$ 3,533	$ (63,602)	$ (36,937)	$ (30,074)

Business Combinations (Details)

Business Combinations (Details) - USD ($)	Jan. 31, 2019	Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Value of business acquired			$ 139,900,000	$ 0
Ozark National Life Insurance Company
Business Acquisition [Line Items]
Payments to acquire business	$ 205,400,000
Earn-out payment maximum	5,000,000
Contingent consideration on businesses acquired	3,700,000		4,000,000
Acquisition-related costs		$ 3,300,000		$ 1,000,000
Value of business acquired	$ 145,800,000
Revenues of acquiree since acquisition date			77,100,000
Net earnings of acquiree since acquisition date			$ 11,700,000

Business Combinations - Fair Va

Business Combinations - Fair Value of Net Assets Acquired (Details) - Ozark National Life Insurance Company $ in Thousands	Jan. 31, 2019USD ($)
Assets
Debt securities held to maturity	$ 261,059
Debt securities available for sale	400,719
Policy loans	28,128
Real estate	4,600
Cash and cash equivalents	16,275
Accrued investment income	6,116
Value of business acquired	145,768
Reinsurance recoverables	21,895
Other intangible assets	9,600
Other assets acquired	12,075
Total assets acquired	906,235
Liabilities
Traditional life reserves	691,297
Other policyholder liabilities	13,867
Other liabilities acquired	5,840
Total liabilities acquired	711,004
Net identifiable assets acquired	195,231
Goodwill	13,864
Net assets acquired	$ 209,095

Business Combinations - Fair _2

Business Combinations - Fair Value of Intangible Assets Acquired (Details) - Ozark National Life Insurance Company $ in Thousands	Jan. 31, 2019USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 9,600
Trademarks / trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 2,800
Weighted-average amortization period	15 years
Internally developed software
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 3,800
Weighted-average amortization period	7 years
Insurance licenses
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 3,000

Business Combinations - Expecte

Business Combinations - Expected Amortization (Details) - Ozark National Life Insurance Company $ in Thousands	Jan. 31, 2019USD ($)
Acquired Indefinite-lived Intangible Assets [Line Items]
Remainder of 2019	$ 1,961
2020	7,446
2021	7,068
2022	6,739
2023	$ 6,445

Business Combinations - Pro For

Business Combinations - Pro Forma (Details) - Ozark National Life Insurance Company - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Total revenues	$ 173,166	$ 254,174	$ 593,402	$ 595,964
Net earnings	$ 19,989	$ 39,986	$ 95,341	$ 107,726

Uncategorized Items - nwlgi2019

Label	Element	Value
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,414,000
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (4,414,000)