Allianz Life Insurance Co Of North America S-1 8 Apr 16 IPO registration Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015
Document Information [Line Items]
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Entity Registrant Name	ALLIANZ LIFE INSURANCE CO OF NORTH AMERICA
Entity Central Index Key	72,499
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fixed-maturity securities:
Available-for-sale, at fair value (amortized cost of $79,180,533 and $72,953,379, respectively)	$ 80,734,468	$ 79,211,785
At fair value through income (amortized cost of $36,474 and $40,535 respectively)	37,111	41,223
Held to maturity, at amortized cost (fair value of $5,279 and $204,489, respectively)	55	180,398
Mortgage loans on real estate (net of valuation allowances of $37,400 and $35,000, respectively)	8,788,018	7,182,169
Short-term securities	4,454	47,897
Derivatives	591,609	721,736
Loans to affiliates	33,005	850,115
Policy loans	163,129	160,141
Acquired loans	224,083	201,268
Equity securities:
Available-for-sale (cost of $71,005 and $6,180, respectively)	68,611	6,226
Trading (cost of $299,017 and $296,992, respectively)	292,816	314,023
Other invested assets	92,977	75,041
Total investments	91,030,336	88,992,022
Cash and cash equivalents	3,608,092	3,832,569
Accrued investment income	1,043,464	919,332
Receivables (net of allowance for uncollectible accounts of $5,560 and $6,631, respectively)	401,926	150,871
Reinsurance recoverables and receivables	4,433,499	4,205,860
Deferred acquisition costs	6,283,236	4,362,771
Net deferred tax asset	542,971
Other assets	2,131,148	1,855,159
Assets, exclusive of separate account assets	109,474,672	104,318,584
Separate account assets	28,243,123	30,789,371
Total assets	137,717,795	135,107,955
Policyholder liabilities:
Account balances and future policy benefit reserves (includes $1,055,301 and $392,388 measured at fair value under the fair value option at December 31, 2015 and 2014)	97,314,497	91,358,761
Policy and contract claims	517,925	443,444
Unearned premiums	154,116	130,701
Other policyholder funds	296,222	331,364
Total policyholder liabilities	98,282,760	92,264,270
Derivative liability	350,321	448,220
Mortgage notes payable	84,761	92,184
Net deferred tax liability		459,506
Other liabilities	4,240,504	3,278,054
Liabilities, exclusive of separate account liabilities	102,958,346	96,542,234
Separate account liabilities	28,243,123	30,789,371
Total liabilities	131,201,469	127,331,605
Stockholder's equity:
Common stock, $1 par value. Authorized, 40,000,000 shares; issued and outstanding, 20,000,001 shares at December 31, 2015 and 2014	20,000	20,000
Additional paid-in capital	4,053,371	4,053,371
Retained earnings	1,935,102	1,906,931
Accumulated other comprehensive income, net of tax	488,950	1,777,145
Total stockholder's equity	6,516,326	7,776,350
Total liabilities and stockholder's equity	137,717,795	135,107,955
Class A, Series A preferred stock
Stockholder's equity:
Preferred stock, value	8,909	8,909
Class A, Series B preferred stock
Stockholder's equity:
Preferred stock, value	$ 9,994	$ 9,994

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized cost of fixed-maturity securities available-for-sale	$ 79,180,533	$ 72,953,379
Fair value through income, amortized cost	36,474	40,535
Held to maturity, fair value	5,279	204,489
Mortgage loans, valuation allowances	37,400	35,000
Available-for-sale equity, at cost	71,005	6,180
Trading securities, at cost	299,017	296,992
Receivables, allowance for uncollectible	5,560	6,631
Account balances and future policy benefit reserves, fair value	$ 1,055,301	$ 392,388
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	20,000,001	20,000,001
Common stock, shares outstanding	20,000,001	20,000,001
Class A, Series A preferred stock
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	8,909,195	8,909,195
Preferred stock, shares issued	8,909,195	8,909,195
Preferred stock, shares outstanding	8,909,195	8,909,195
Preferred stock, liquidation preference	$ 1,560	$ 1,560
Class A, Series B preferred stock
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	9,994,289	9,994,289
Preferred stock, shares outstanding	9,994,289	9,994,289
Preferred stock, liquidation preference	$ 1,750	$ 1,750

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Premiums	$ 244,226	$ 241,704	$ 235,783
Policy fees	1,330,651	1,286,614	1,172,357
Premiums and policy fees, ceded	(125,286)	(120,221)	(119,767)
Net premiums and policy fees	1,449,591	1,408,097	1,288,373
Interest and similar income, net	4,180,103	3,957,298	3,592,117
Change in fair value of assets and liabilities	(532,720)	1,841,989	921,265
Realized investment gains, net	94,413	77,762	188,297
Fee and commission revenue	293,333	282,058	261,926
Other revenue	10,066	29,762	44,853
Total revenue	5,494,786	7,596,966	6,296,831
Benefits and expenses:
Policyholder benefits	1,031,440	689,319	834,552
Change in fair value of annuity and life embedded derivatives	588,595	4,955,984	1,598,061
Benefit recoveries	(499,825)	(371,608)	(268,067)
Net interest credited to account values	1,482,884	602,130	1,539,473
Net benefits and expenses	2,603,094	5,875,825	3,704,019
Commissions and other agent compensation	1,167,109	1,537,224	978,316
General and administrative expenses	641,962	676,815	663,319
Change in deferred acquisition costs, net	239,259	(673,086)	206,699
Total benefits and expenses	4,651,424	7,416,778	5,552,353
Income from operations before income taxes	843,362	180,188	744,478
Income tax expense (benefit):
Current	551,052	265,586	42,854
Deferred	(307,986)	(240,863)	160,438
Income tax expense (benefit) as reported	243,066	24,723	203,292
Net income	600,296	155,465	541,186
Realized investment (losses), net:
Total other-than-temporary impairment losses on securities	(58,975)	(6,445)	(15,048)
Portion of loss recognized in other comprehensive income	0	0	0
Net impairment losses recognized in realized investment gains, net	(58,975)	(6,445)	(15,048)
Other net realized gains	153,388	84,207	203,345
Net realized investment gains	$ 94,413	$ 77,762	$ 188,297

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 600,296	$ 155,465	$ 541,186
Foreign currency translation adjustments, net of tax	(4,009)	(2,103)	(1,650)
Unrealized gain (loss) on postretirement obligation, net of tax	111	(6)	167
Net unrealized loss (gain) on investments, net of shadow adjustments and deferred taxes	(1,284,297)	776,470	(1,228,638)
Total other comprehensive (loss) income	(1,288,195)	774,361	(1,230,121)
Total comprehensive (loss) income	$ (687,899)	$ 929,826	$ (688,935)

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Preferred stock	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income
Beginning balance at Dec. 31, 2012	$ 8,435,459	$ 18,903	$ 20,000	$ 4,053,371	$ 2,110,280	$ 2,232,905
Comprehensive income:
Net income	541,186				541,186
Net unrealized gain (loss) on investments, net of shadow adjustments and deferred taxes	(1,228,638)					(1,228,638)
Net unrealized gain (loss) on postretirement obligation, net of deferred taxes	167					167
Foreign currency translation adjustment, net of deferred taxes	(1,650)					(1,650)
Total comprehensive (loss) income	(688,935)
Dividend to parent	(650,000)				(650,000)
Ending balance at Dec. 31, 2013	7,096,524	18,903	20,000	4,053,371	2,001,466	1,002,784
Comprehensive income:
Net income	155,465				155,465
Net unrealized gain (loss) on investments, net of shadow adjustments and deferred taxes	776,470					776,470
Net unrealized gain (loss) on postretirement obligation, net of deferred taxes	(6)					(6)
Foreign currency translation adjustment, net of deferred taxes	(2,103)					(2,103)
Total comprehensive (loss) income	929,826
Dividend to parent	(250,000)				(250,000)
Ending balance at Dec. 31, 2014	7,776,350	18,903	20,000	4,053,371	1,906,931	1,777,145
Comprehensive income:
Net income	600,296				600,296
Net unrealized gain (loss) on investments, net of shadow adjustments and deferred taxes	(1,284,297)					(1,284,297)
Net unrealized gain (loss) on postretirement obligation, net of deferred taxes	111					111
Foreign currency translation adjustment, net of deferred taxes	(4,009)					(4,009)
Total comprehensive (loss) income	(687,899)
Dividend to parent	(572,125)				(572,125)
Ending balance at Dec. 31, 2015	$ 6,516,326	$ 18,903	$ 20,000	$ 4,053,371	$ 1,935,102	$ 488,950

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows provided by operating activities:
Net income	$ 600,296	$ 155,465	$ 541,186
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment gains	(80,225)	(77,209)	(199,546)
Purchase of fixed-maturity securities at fair value through income	(4,819)	(9,156)	(14,075)
Sale, maturity, and other redemptions of fixed-maturity securities at fair value through income	8,700	8,500	8,306
Purchases of trading securities	(497,657)	(241,188)	(226,555)
Sale and other redemptions of trading securities	503,912	158,825	49,856
Change in annuity-related options, derivatives, and gross reserves	109,763	1,561,437	3,573,672
Deferred income tax (benefit) expense	(307,986)	(240,863)	160,438
Charges to policy account balances	(187,637)	(158,401)	(136,807)
Gross interest credited to account balances	1,618,376	829,932	1,731,843
Amortization and depreciation	60,857	(41,534)	(10,259)
Change in:
Accrued investment income	(124,230)	(87,428)	(63,627)
Receivables	(251,059)	(12,479)	16,560
Reinsurance recoverables and receivables	(227,639)	(100,782)	(25,485)
Deferred acquisition costs	239,259	(673,086)	206,699
Future policy benefit reserves	1,218,582	1,826,979	(764,875)
Policy and contract claims	74,481	27,335	57,377
Other policyholder funds	(35,142)	59,155	85,602
Unearned premiums	(20,157)	11,669	9,639
Other assets and liabilities	521,573	166,689	105,279
Other, net	(5,924)	745	(3,109)
Total adjustments	2,613,028	3,009,140	4,560,933
Net cash provided by operating activities	3,213,324	3,164,605	5,102,119
Cash flows used in investing activities:
Purchase of fixed-maturity securities	(15,028,477)	(15,498,964)	(9,176,417)
Purchase of equity securities	(143,684)	(6,163)	(163,512)
Funding of mortgage loans on real estate	(2,281,527)	(1,854,016)	(559,154)
Sale and other redemptions of fixed-maturity securities	7,224,211	4,264,652	5,822,778
Matured fixed-maturity securities	1,767,133	1,121,527	724,008
Sale of equity securities	58,858	29,209	134,400
Sale of derivative securities	242,298	1,344,736	85,471
Sale of real estate	5,929		15,471
Net change in securities lending	118,958	537,164	970,364
Repayment/disposal of mortgage loans on real estate	673,278	811,372	493,391
Net change in short-term securities	43,443	(40,350)	(2,045)
Purchase of home office property and equipment	(7,486)	(4,882)	(2,831)
Purchase of partnership investments	(19,777)	(2,992)	(1,478)
Options purchased, net	(512,523)	(397,943)	(217,382)
Other, net	(2,958)	(682)	6,132
Net cash used in investing activities	(7,025,871)	(9,378,243)	(3,039,145)
Cash flows provided by financing activities:
Cash received from FHLB advance	500,000
Policyholders' deposits to account balances	10,035,234	13,666,314	7,014,576
Policyholders' withdrawals from account balances	(6,485,558)	(6,207,879)	(6,438,692)
Policyholders' net transfers between account balances	101,897	(98,712)	(1,094,927)
Change in amounts drawn in excess of bank balances	16,045	(884)	(23,062)
Dividend paid to parent company	(572,125)	(250,000)	(650,000)
Repayment of mortgage notes payable	(7,423)	(7,026)	(6,648)
Net cash provided by (used in) financing activities	3,588,070	7,101,813	(1,198,753)
Net change in cash and cash equivalents	(224,477)	888,175	864,221
Cash and cash equivalents at beginning of year	3,832,569	2,944,394	2,080,173
Cash and cash equivalents at end of year	3,608,092	3,832,569	2,944,394
Affiliates
Cash flows used in investing activities:
Change in loan to related parties	817,110	341,055	(1,162,445)
Non Affiliates
Cash flows used in investing activities:
Change in loan to related parties	$ 19,343	$ (21,966)	$ (5,896)

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization	(1) Organization Allianz Life Insurance Company of North America is a wholly owned subsidiary of Allianz of America, Inc. (AZOA or parent company), which is a wholly owned subsidiary of Allianz Europe, B.V. Allianz Europe, B.V. is a wholly owned subsidiary of Allianz SE. Allianz SE is a European Company registered in Munich, Germany, and is the Company’s ultimate parent. Allianz Life Insurance Company of North America and its wholly owned subsidiaries are referred to as the Company. The Company is a life insurance company licensed to sell annuity, group and individual life, and group and individual accident and health policies in the United States, Canada, and several U.S. territories. Based on 2015 statutory net premium written, 94%, 5%, and 1% of the Company’s business is annuity, life insurance, and accident and health, respectively. The annuity business comprises fixed-indexed, long-term broker-dealers, third-party

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP), which vary in certain respects from accounting practices prescribed or permitted by state insurance regulatory authorities. The accounts of the Company’s primary subsidiary, Allianz Life Insurance Company of New York, and all other subsidiaries have been consolidated. All intercompany balances and transactions have been eliminated in consolidation. (b) Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect reported amounts of assets and liabilities, including reporting or disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Future events, including changes in mortality, morbidity, interest rates, capital markets, and asset valuations could cause actual results to differ from the estimates used in the Consolidated Financial Statements. Such changes in estimates are recorded in the period they are determined. (c) Investment Products and Universal Life Business Investment products consist primarily of fixed, variable, and deferred annuity products. Premium receipts are reported as deposits to the contractholders’ accounts. Policy fees on the Consolidated Statements of Operations represent asset fees, cost of insurance charges, administrative fees, charges for guarantees on investment products, and surrender charges for investment products and universal life insurance. These fees have been earned and assessed against contractholders on a daily or monthly basis throughout the contract period and are recognized as revenue when assessed and earned. Amounts assessed that represent compensation to the Company for services to be provided in future periods are not earned in the period assessed. Such amounts are reported as unearned premiums, which include unearned revenue reserves (URR), and are recognized in operations over the period benefited using the same assumptions and factors used to amortize capitalized acquisition costs. Surrender charges are recognized upon surrender of a contract in accordance with contractual terms. Derivatives embedded in fixed-indexed, The Company offers a variable annuity product that combines a separate account option with a general account option that is similar to a fixed-indexed Available-for-sale (d) Life and Accident and Health Insurance Premiums on traditional life products are recognized as earned when due. Benefits and expenses are associated with earned premiums so as to result in recognition of profits over the life of the contracts. This association is accomplished by establishing provisions for future policy benefits and deferral and amortization of related acquisition costs. Accident and health premiums are recognized as earned on a pro rata basis over the risk coverage periods. Benefits and expenses are recognized as incurred. (e) Goodwill Goodwill is the excess of the amount paid to acquire a company over the fair value of its tangible net assets, value of business acquired (VOBA), other identifiable intangible assets, and valuation adjustments (such as impairments), if any. Goodwill is reported in Other assets on the Consolidated Balance Sheets. Goodwill is evaluated annually for impairment at the reporting unit level, which is one level below an operating segment. Goodwill of a reporting unit is also tested for impairment on an interim basis if a triggering event occurs, such as a significant adverse change in the business climate or a decision to sell or dispose of a business unit. (f) Value of Business Acquired and Other Intangible Assets The value of insurance in-force Adjustments to VOBA are made to reflect the estimated corresponding impact on the present value of expected future gross profits from unrealized gains and losses on available-for-sale The recoverability of VOBA is evaluated annually, or earlier if factors warrant, based on estimates of future earnings related to the insurance in-force Intangible assets are identified by the Company in accordance with the Intangibles – Goodwill and Other Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (Codification), which requires an identifiable intangible asset to be recognized apart from goodwill when it arises from contractual or legal rights or it is capable of being separated and valued when sold, transferred, licensed, rented, or exchanged. The Company determines the useful life and amortization period for each intangible asset identified at acquisition, and continually monitors these assumptions. An intangible asset with a determinable life is amortized over that period, while an intangible asset with an indefinite useful life is not amortized. The Company’s intangible assets include trademarks, agent lists, and noncompete agreements that were acquired as a result of the Company’s ownership in field marketing organizations, and are reported in Other assets on the Consolidated Balance Sheets. These intangible assets were assigned values using the present value of projected future cash flows and are generally amortized over five years using the straight-line broker-dealer Recoverability of the value of the amortizing intangible assets is assessed whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Recoverability of the value of the nonamortizing intangible assets is assessed annually or earlier if events or changes in circumstances indicate the carrying amount may not be recoverable. (g) Deferred Acquisition Costs Acquisition costs consist of commissions and other incremental costs that are directly related to the successful acquisition of insurance contracts. Acquisition costs are deferred to the extent recoverable from future policy revenues and gross profits. However, acquisition costs associated with insurance contracts recorded under the fair value option are not deferred as guidance related to the fair value option requires that transaction costs are recorded immediately as an expense. For interest-sensitive two-step in-force Adjustments to DAC are made to reflect the corresponding impact on the present value of expected future gross profits and revenues from unrealized gains and losses on available-for-sale Changes in assumptions can have an impact on the amount of DAC reported for annuity and life insurance products and their related amortization patterns. In the event experience differs from assumptions or assumptions are revised, the Company is required to record an increase or decrease in DAC amortization expense, which is referred to as DAC unlocking. In general, increases in the estimated investment spreads and fees result in increased expected future profitability and may decrease the rate of DAC amortization, while increases in costs of product guarantees, and lapse/surrender and mortality assumptions reduce the expected future profitability of the underlying business and may increase the rate of DAC amortization. The Company formally evaluates the appropriateness of the best-estimate Adjustments may also be made to the EGPs or estimated gross revenues related to DAC that correspond to deferred annuities and universal life products for investment activity, such as write-downs other-than-temporarily fixed-maturity in-force fixed-maturity noninvestment-grade The Company assesses internal replacements on insurance contracts to determine whether such modifications significantly change the contract terms. An internal replacement represents a modification in product benefits, features, rights, or coverages that occurs by the exchange of an in-force (h) Deferred Sales Inducements Sales inducements are product features that enhance the investment yield to the contractholder on the contract. The Company offers two types of sales inducements on certain universal life and annuity contracts. The first type, an immediate bonus, increases the account value at inception, and the second type, a persistency bonus, increases the account value at the end of a specified period. Annuity sales inducements are deferred when credited to contractholders and life sales inducements are deferred and recognized as part of the liability for policy benefits. Deferred sales inducements (DSI) are reported in Other assets in the Consolidated Balance Sheets. They are amortized over the expected life of the contract in a manner similar to DAC and are reviewed annually for recoverability. DSI capitalization and amortization are recorded in Policyholder benefits on the Consolidated Statements of Operations. Adjustments to DSI are made to reflect the estimated corresponding impact on the present value of expected future gross profits and revenues from unrealized gains and losses on available-for-sale Adjustments may also be made to DSI related to deferred annuities for investment activity, such as write-downs other-than-temporarily fixed-maturity fixed-maturity (i) Account Balances and Future Policy Benefit Reserves Policy and contract account balances for interest-sensitive fixed-indexed Certain two-tier period-certain life-contingent Policy and contract account balances for variable annuity products are carried at accumulated contract values. Future policy benefit reserves for any death and income benefits that may exceed the accumulated contract values are established using a range of economic scenarios and are accrued for using assumptions consistent with those used in estimating gross profits or gross revenues for purposes of amortizing DAC. Future policy benefit reserves for accumulation and withdrawal benefits that may exceed account values are established using capital market assumptions, such as index and volatility, along with estimates of future policyholder behavior. Future policy benefit reserves on traditional life products are computed by the net level premium method based upon estimated future investment yield, mortality and withdrawal assumptions, commensurate with the Company’s experience, modified as necessary to reflect anticipated trends, including possible unfavorable deviations. Most life reserve interest assumptions range from 2.3% to 6.0%. Future policy benefit reserves on LTC products are computed using a net level reserve method. Reserves are determined as the excess of the present value of future benefits over the present value of future net premiums and are based on best estimate assumptions at the time of issue for morbidity, mortality, lapse, and interest with provisions for adverse deviation. Most LTC reserve interest assumptions range from 5.0% to 6.0%. An additional reserve has been established to provide for future expected losses that are anticipated to occur after a period of profits. The reserve accrual will be over the profit period and is based on best estimate assumptions as of the current accrual period without provisions for adverse deviation. (j) Policy and Contract Claims Policy and contract claims include the liability for claims reported but not yet paid, claims incurred but not yet reported (IBNR), and claim settlement expenses on the Company’s accident and health business. Actuarial reserve development methods are generally used in the determination of IBNR liabilities. In cases of limited experience or lack of credible claims data, loss ratios are used to determine an appropriate IBNR liability. Claim and IBNR liabilities of a short-term (k) Reinsurance The Company assumes and cedes business with other insurers. Reinsurance premium and benefits paid or provided are accounted for in a manner consistent with the basis used in accounting for original policies issued and the terms of the reinsurance contracts and are included in Premiums and policy fees, ceded, and Benefit recoveries, respectively, on the Consolidated Statements of Operations. Insurance liabilities are reported before the effects of reinsurance. Account balances and future policy benefit reserves, and policy and contract claims covered under reinsurance contracts are recorded in Reinsurance recoverables and receivables on the Consolidated Balance Sheets. Amounts paid or deemed to have been paid for claims covered by reinsurance contracts are recorded as Receivables on the Consolidated Balance Sheets. Reinsurance recoverables are recognized in a manner consistent with the liabilities related to the underlying reinsured contracts. Amounts due to other insurers on assumed business are recorded as a reinsurance payable, and are included in Other liabilities on the Consolidated Balance Sheets. A gain recognized when the Company enters into a coinsurance agreement with a third-party revenue-producing run-off (l) Investments Fixed-Maturity The Company has portfolios of certain fixed-maturity “available-for-sale.” The Company has portfolios of certain fixed-maturity fixed-maturity “held-to-maturity,” fixed-maturity Mortgage-backed loan-backed The fair value of fixed-maturity third-party third-party The Company reviews the available-for-sale held-to-maturity risk-free fixed-income other-than-temporarily fixed-maturity other-than-temporarily available-for-sale held-to-maturity available-for-sale The Company evaluates whether a credit loss exists by considering primarily the following factors: (a) the length of time and extent to which the fair value has been less than the amortized cost of the security, (b) changes in the financial condition, credit rating, and near-term probability-weighted third-party probability-weighted probability-weighted The Company provides a supplemental disclosure on its Consolidated Statements of Operations that presents the total OTTI losses recognized during the period less the portion of OTTI losses recognized in other comprehensive income to equal the credit-related The Company views equity securities that have a fair value of at least 20% below average cost at the end of a quarter or are in an unrealized loss position for nine consecutive months as other-than-temporarily other-than-temporarily Impairments in the value of securities held by the Company, considered to be other than temporary, are recorded as a reduction of the cost of the security, and a corresponding realized loss is recognized on the Consolidated Statements of Operations. The Company adjusts DAC, DSI, and VOBA for impairments on securities, as discussed in their respective sections of this note. Mortgage Loans on Real Estate Mortgage loans on real estate are reflected at unpaid principal balances adjusted for an allowance for uncollectible balances. Interest on mortgage loans is accrued on a monthly basis and recorded in Interest and similar income, net on the Consolidated Statements of Operations. The Company analyzes loan impairment quarterly when assessing the adequacy of the allowance for uncollectible balances. The Company considers recent trends in the Company’s loan portfolio and information on current loans, such as loan-to-value Other Investments Other investments include short-term Short-term straight-line The Company is a member of the Federal Home Loan Bank of Des Moines (FHLB), primarily for the purpose of participating in the Bank’s mortgage collateralized loan advance program with short-term long-term Acquired Loans The Company acquired a portfolio of assets that have deteriorated credit quality and are recorded as Acquired loans on the Consolidated Balance Sheets. Acquired loans are initially recorded at fair value, and changes in expected cash flows are recorded as adjustments to accretable yield, to the carrying amount, or both. Fair values are obtained using a combination of third-party Repurchase Agreements The Company has entered into a tri-party (m) Derivatives The Company utilizes derivatives within certain actively managed investment portfolios. Within these portfolios, derivatives can be used for hedging, replication, and income generation only. The financial instruments are valued and carried at fair value and the unrealized gains and losses on the derivatives are reflected in Change in fair value of assets and liabilities within the Consolidated Statements of Operations. Hedge Accounting To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated changes in cash flow of the hedged item. At hedge inception, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking each hedge transaction. The documentation process includes linking derivatives that are designated as cash flow hedges to specific assets or liabilities on the Consolidated Balance Sheets and defining the effectiveness and ineffectiveness testing methods to be used. The Company also formally assesses, at inception and on a quarterly basis, whether the derivatives used in hedging transactions have been and are expected to continue to be highly effective in offsetting changes in cash flows of hedged items. Hedge effectiveness is assessed using qualitative and quantitative methods. Qualitative methods may include comparison of critical terms of the derivative to the hedged item. Quantitative methods include analysis of changes in fair value or cash flows associated with the hedge relationship. Hedge effectiveness is measured using the dollar offset method. The dollar offset method compares changes in cash flows of the hedging instrument with changes in the cash flows of the hedged item attributable to the hedged risk. Random changes in interest rate movements are assumed. Related changes in the cash flows of the hedging instrument are expected to offset the changes in the cash flows of the hedged item as the notional/par amounts, reset dates, interest rate indices, and business day conventions are the same for both the bond and the swap. The cumulative amount of unrealized gains and losses of the hedging instrument is recognized in Accumulated other comprehensive income, net of tax on the Consolidated Balance Sheets. The ineffective portion of the change in the fair value of the hedging instrument is recognized in Change in fair value of assets and liabilities in the Consolidated Statements of Operations. Interest Rate Swaps and Foreign Currency Swaps The Company utilizes foreign currency swaps to hedge cash flows and applies hedge accounting treatment. The Company also uses foreign currency swaps to hedge foreign currency and interest fluctuations on certain underlying foreign fixed-maturity securities. Until January 2015, the Company also utilized interest rate swaps (IRS) to hedge cash flows and applied hedge accounting treatment. The IRS and foreign currency swaps are reported at fair value as Derivatives on the Consolidated Balance Sheets. The fair value of the interest rate and foreign currency swaps are derived using a third-party The Company has a minor mismatch between the purchase of the derivative and settlement of the bond for foreign currency swaps. Any changes in value of the derivative between the purchase and settlement date are recorded in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. After the bond is settled, the Company completes documentation and designates hedge accounting. Nonqualifying hedging Options and Futures Contracts The Company provides additional benefits through certain life and annuity products, which are linked to the fluctuation of various United States and international stock and bond market indices. In addition, certain variable annuity contracts provide minimum guaranteed benefits. The Company has analyzed the characteristics of these benefits and has entered into over-the-counter exchange-traded exchange-traded exchange-traded in-force The OTC option contracts and ETO contracts are reported at fair value in Derivatives on the Consolidated Balance Sheets. The fair value of the OTCs is derived internally and deemed by management to be reasonable via performing an IPV process. The process of deriving internal derivative prices requires the Company to calibrate Monte Carlo scenarios to actual market information. The calibrated scenarios are applied to derivative cash flow models to calculate fair value prices for the derivatives. The fair value of the ETOs is based on quoted market prices. Changes in unrealized gains and losses on the option contracts and incremental gains and losses from expiring options are recorded in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. The liability for the benefits is reported in Account balances and future policy benefit reserves on the Consolidated Balance Sheets. Futures contracts do not require an initial cash outlay, and the Company has agreed to daily net settlement based on movements of the representative index. Therefore, no asset or liability is recorded on the Consolidated Balance Sheets. Gains and/or losses on futures contracts are included in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. Interest Rate Swaps, Credit Default Swaps, Total Return Swaps, and To Be Announced Securities The Company utilizes IRS, credit default swaps (CDS) and total return swaps (TRS) to hedge market risks embedded in certain annuities. Beginning in 2015, the Company began transacting To Be Announced (TBA) securities, which do not meet the security scope exception, to economically hedge market risks embedded in certain life and annuity products. The IRS, CDS, TRS and TBA securities are reported at fair value in Derivatives on the Consolidated Balance Sheets. The fair value of the over-the-counter IRS, CDS and TBA securities are derived using a third-party (n) Securities Lending The Company accounts for its securities lending transactions as secured borrowings, in which the collateral received and the related obligation to return the collateral are recorded on the Consolidated Balance Sheets as Cash and cash equivalents, and Other liabilities, respectively. Securities on loan remain on the Consolidated Balance Sheets, and interest and dividend income earned by the Company on loaned securities is recognized in Interest and similar income, net on the Consolidated Statements of Operations. The Company participates in restricted securities lending arrangements whereby specific securities are loaned to other institutions. The collateral is defined by the agreement to be cash and cash equivalents, is unrestricted and may be used for general purposes. Company policy requires a minimum of 102% of fair value of securities loaned under securities lending agreements to be maintained as collateral. (o) Receivables Receivable balances (contractual amount less allowance for doubtful accounts) are based on pertinent information available to management as of year-end, (p) Corporate-Owned Corporate-owned individual-life (q) Home Office Property and Equipment Home office property consists of buildings and land. Equipment consists of furniture, office equipment, leasehold improvements, and computer hardware and software. Both are reported at cost, net of accumulated depreciation, in Other assets on the Consolidated Balance Sheets. Major upgrades and improvements are capitalized, while maintenance and repairs are expensed when incurred. Depreciation is computed over the estimated useful lives (3 – 7 years, depending on the asset) of depreciable assets using the straight-line start-up straight-line 39-year (r) Held-for-sale Assets and Liabilities The Company has reported a subsidiary as held-for-sale as of December 31, 2015. A buyer has been identified and a letter of intent has been signed. The Company reclassified assets of $12,436 to held-for-sale, recorded in Other assets on the Consolidated Balance Sheets. The Company reclassified liabilities of $3,223 to held-for-sale, recorded in Other liabilities on the Consolidated Balance Sheets. No income or expense was reclassified as a result of the signed letter of intent. (s) Income Taxes The Company and its subsidiaries file a consolidated federal income tax return with AZOA and all of its wholly owned subsidiaries. The consolidated tax allocation agreement stipulates that each company participating in the return will bear its share of the tax liability pursuant to certain tax allocation elections under the Internal Revenue Code and its related regulations and reimbursement will be in accordance with an intercompany tax reimbursement arrangement. The Company, and its insurance subsidiaries generally will be paid for the tax benefit on their losses and any other tax attributes to the extent they could have obtained a benefit against their post-1990 The Company provides for federal income taxes based on amounts the Company believes it ultimately will owe. Inherent in the provision for federal income taxes are estimates regarding the deductibility of certain items and the realization of certain tax credits. In the event the ultimate deductibility of certain items or the realization of certain tax credits differs from estimates, the Company may be required to significantly change the provision for federal income taxes recorded on the Consolidated Balance Sheets. Any such change could significantly affect the amounts reported on the Consolidated Statements of Operations. Management uses best estimates to establish reserves based on current facts and circumstances regarding tax exposure items where the ultimate deductibility is open to interpretation. Quarterly, management evaluates the appropriateness of such reserves based on any new developments specific to their fact patterns. Information considered includes results of completed tax examinations, Technical Advice Memorandums, and other rulings issued by the Internal Revenue Service or the tax courts. The Company utilizes the asset and liability method of accounting for income tax. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when it is determined that it is more likely than not that the deferred tax asset will not be fully realized or that the related temporary differences will not reverse over time (see further discussion in note 16). (t) Stockholder’s Equity, Accumulated Unrealized Foreign Currency Foreign currency translation adjustments are related to the conversion of foreign currency upon the consolidation of a foreign branch (see further discussion in note 22). The net assets of the Company’s foreign operations are translated into U.S. dollars using exchange rates in effect at each year-end. (u) Separate Accounts and Annuity Product Guarantees The Company issues variable annuity and life contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. The Company also issues variable indexed annuity contracts to its customers. These products have investment options similar to fixed-indexed annuities, but allow contractholders to invest in a variety of variable separate account investment options. The Company recognizes gains or losses on transfers from the general account to the separate accounts at fair value to the extent of contractholder interests in separate accounts, which are offset by changes in contractholder liabilities. The Company also issues variable annuity and life contracts through its separate accounts where the Company provides certain contractual guarantees to the contractholder. These guarantees are in the form of a guaranteed minimum death benefit (GMDB), a guaranteed minimum income benefit (GMIB), a guaranteed minimum accumulation benefit (GMAB), and a guaranteed minimum withdrawal benefit (GMWB). These guarantees provide for benefits that are payable to the contractholder in the event of death, annuitization, or at specified dates during the accumulation period. Separate account assets supporting variable annuity contracts represent funds for which investment income and investment gains and losses accrue directly to contractholders. Each fund has specific investment objectives and the assets are carried at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Separate account assets and liabilities are reported as summary totals on the Consolidated Balance Sheets. Amounts charged to the contractholders for mortality and contract maintenance are included in Policy fees on the Consolidated Statements of Operations. Administrative and other services are included in Fee and commission revenue on the Consolidated Statements of Operations. These fees have been earned and assessed against contractholders on a daily or monthly basis throughout the contract period and are recognized as revenue when assessed and earned. Changes in GMDB and GMIB are calculated in accordance with the Financial Services – Insurance Topic of the Codification and are included in Policyholder benefits on the Consolidated Statements of Operations. GMAB and GMWB are considered to be embedded derivatives under the Derivatives and Hedging Topic of the Codification, and the changes in these embedded derivatives are included in Change in fair value of annuity and life embedded derivatives on the Consolidated Statements of Operations. The GMDB net amount at risk is defined as the guaranteed amount that would be paid upon death, less the current accumulated contractholder account value. The GMIB net amount at risk is defined as the current amount that would be needed to fund expected future guaranteed payments less the current contractholder account value, assuming that all benefit selections occur as of the valuation date. The GMAB net amount at risk is defined as the current guaranteed value amount that would be added to the contracts less the current contractholder account value. The GMWB net amount at risk is defined as the current accumulated benefit base amount less the current contractholder account value. The GMDB provides a specified minimum return upon death. The survivor has the option to terminate the contract or continue it and have the death benefit paid into the contract. The Company’s GMDB options have the following features: • Return of Premium • Reset five-year • Ratchet six-year • Rollup • Earnings Protection Rider The GMIB is a living benefit that provides the contractholder with a guaranteed annuitization value. The GMIB features are: • Return of Premium • Ratchet one-year • Rollup The GMDB and GMIB liabilities are determined each period by estimating the expected future claims in excess of the associated account balances. The Company regularly evaluates estimates used and adjusts the additional liability balance, with a related charge or credit to Policyholder benefits on the Consolidated Statements of Operations, if actual experience or other evidence suggests that earlier assumptions should be revised. The following assumptions were used to determine the GMDB and GMIB liabilities as of December 31, 2015 and 2014: • 100 stochastically generated investment performance scenarios. • Mean investment performance assumption of 6.5% in 2015 and 2014. • Volatility assumption of 13.4% in 2015 and 2014. • Mortality assumption of 87% of the Annuity 2000 Mortality Table for all variable annuity products in 2015 and 90% of the Annuity 2000 Mortality Table for all variable annuity products in 2014. • Lapse rates vary by contract type and duration. Spike rates could approach 40% with an ultimate rate around 15%. • Discount rates vary by contract type and equal an assumed long-term • GMIB contracts only – dynamic lapse assumption. For example, if the contract is projected to have a large additional benefit, then it becomes less likely to lapse. The GMAB is a living benefit that provides the contractholder with a guaranteed value that was established at least five years prior at each contract anniversary.

Risk Disclosures

Risk Disclosures	12 Months Ended
	Dec. 31, 2015
Risk Disclosures	(3) Risk Disclosures The following is a description of the significant risks facing the Company and how it attempts to mitigate those risks: (a) Credit Risk Credit risk is the risk that issuers of fixed-rate The Company mitigates this risk by adhering to investment policies and limits that provide portfolio diversification on an asset class, asset quality, creditor, and geographical basis, and by complying with investment limitations governed by state insurance laws and regulations, as applicable. The Company considers all relevant objective information available in estimating the cash flows related to structured securities. The Company actively monitors and manages exposures, and determines whether any securities are impaired. The aggregate credit risk taken in the investment portfolio is influenced by management’s risk/return preferences, the economic and credit environment, and the ability to manage this risk through liability portfolio management. For derivative counterparties, the Company mitigates credit risk by tracking and limiting exposure to each counterparty through limits that are reported regularly and, once breached, restricts further trades; establishing relationships with counterparties rated BBB+ and higher; and monitoring the CDS of each counterparty as an early warning signal to cease trading when CDS spreads imply severe impairment in credit quality. The Company executes Credit Support Annexes (CSA) with all active and new counterparties which further limits credit risk by requiring counterparties to post collateral to a segregated account to cover any counterparty exposure. (b) Credit Concentration Risk Credit concentration risk is the risk of increased exposure to significant asset defaults (of a single security issuer or class of security issuers); economic conditions (if business is concentrated in a certain industry sector or geographic area); or adverse regulatory or court decisions (if concentrated in a single jurisdiction) affecting credit. Concentration risk exposure is monitored regularly. The Company’s Finance Committee, responsible for asset/liability management (ALM) issues, recommends an investment policy to the Company’s Board of Directors (BOD). The investment policy and accompanying investment mandates specify asset allocation among major asset classes and the degree of asset manager flexibility for each asset class. The investment policy complies, at a minimum, with state statutes. Compliance with the policy is monitored by the Finance Committee who is responsible for implementing internal controls and procedures. Deviations from the policy are monitored and addressed. The Finance Committee and, subsequently, the BOD review the investment policy at least annually. To further mitigate this risk, internal concentration limits based on credit rating and sector are established and are monitored regularly. Any ultimate obligor group exceeding these limits is placed on a restricted list to prevent further purchases, and the excess exposure may be actively sold down to comply with concentration limit guidelines. Further, the Company performs a quarterly concentration risk calculation to ensure compliance with certain state insurance regulations. (c) Liquidity Risk Liquidity risk is the risk that unexpected timing or amounts of cash needed will require liquidation of assets in a market that will result in a realized loss or an inability to sell certain classes of assets such that an insurer will be unable to meet its obligations and contractual guarantees. Liquidity risk also includes the risk that in the event of a company liquidity crisis refinancing is only possible at higher interest rates. Liquidity risk can be affected by the maturity of liabilities, the presence of withdrawal penalties, the breadth of funding sources, and terms of funding sources. It can also be affected by counterparty collateral triggers as well as whether anticipated liquidity sources such as credit agreements are cancelable. The Company manages liquidity within four specific domains: (1) monitoring product development, product management, business operations, and the investment portfolio; (2) setting ALM strategies; (3) managing the cash requirements stemming from the Company’s derivative dynamic hedging activities; and (4) establishing liquidity facilities to provide additional liquidity. The Company has established liquidity risk limits, which are approved by the Company’s Risk Committee, and the Company monitors its liquidity risk regularly. The Company also sets target levels for the liquid securities in its investment portfolio. (d) Interest Rate Risk Interest rate risk is the risk that movements in interest rates or interest rate volatility will cause a decrease in the value of an insurer’s assets relative to the value of its liabilities and/or an unfavorable change in prepayment activity resulting in compressed interest margins. The Company has an ALM strategy to align cash flows and duration of the investment portfolio with policyholder liability cash flows and duration. The Company further limits interest rate risk on variable annuity guarantees through interest rate hedges. (e) Equity Market Risk Equity market risk is the risk that movements in equity prices or equity volatility will cause a decrease in the value of an insurer’s assets relative to the value of its liabilities. The policy value of the fixed-indexed fixed-indexed Variable annuity products may provide a minimum guaranteed level of benefits irrespective of market movements. The Company has adopted an economic hedging program to manage the equity risk of these products. The Company monitors the economic and accounting impacts of equity stress scenarios on assets and liabilities regularly. Basis risk is the risk that the variable annuity hedge asset value changes unexpectedly relative to the value of the underlying separate account funds of the variable annuity contracts. Basis risk may arise from the Company’s inability to directly hedge the underlying investment options of the variable annuity contracts. The Company mitigates this risk through regular review and synchronization of fund mappings, product design features, and hedge design. (f) Operational Risk Operational risk is the risk of loss resulting from inadequate or failed internal processes and systems, fraud or errors, external events, or legal/regulatory risk. Operational risk is comprised of the following seven risk categories: (1) internal fraud; (2) external fraud; (3) employment practices and workplace safety; (4) clients/ third party, products and business practices; (5) damage to physical assets; (6) business disruption and system failure; and (7) execution, delivery and process management. Operational risk is comprehensively managed through a combination of core qualitative and quantitative activities. The Operational Risk Management framework includes the following key activities: (1) loss data capture identifies historical operational events that meet a designated threshold to ensure transparency and remediation of each event; (2) risk and control self-assessments are performed to proactively manage significant operational risk scenarios throughout the organization; and (3) scenario analyses are conducted to quantify operational risk capital. (g) Legal/Regulatory Risk Legal/regulatory risk is the risk that changes in the legal or regulatory environment in which the Company operates may result in reduced demand for its products or additional expenses not assumed in product pricing. Additionally, the Company is exposed to risk related to how the Company conducts itself in the market and the suitability of its product sales to contractholders. The Company mitigates this risk by offering a broad range of products and by operating throughout the United States. The Company actively monitors all market-related In April 2015, the U.S. Department of Labor (DOL) proposed new regulations that, if enacted, will significantly expand the definition of “investment advice” and increase the circumstances in which companies and broker-dealers, insurance agencies and other financial institutions that sell the Company’s products could be deemed a fiduciary when providing investment advice with respect to plans under the Employee Retirement Income Security Act of 1974 (ERISA) or individual retirement accounts (IRAs). The DOL also proposed amendments to longstanding exemptions from the prohibited transaction provisions under ERISA that would increase fiduciary requirements in connection with transactions involving ERISA plans, plan participants and IRAs, and that would apply more onerous disclosure and contract requirements to such transactions. If these proposals are adopted, the Company may find it necessary to change sales representative and/or broker compensation, limit the assistance or advice provided to annuity contractholders, or otherwise change the manner in which the Company designs and supports sales of annuities. (h) Ratings Risk Ratings risk is the risk that rating agencies change their outlook or rating of the Company or a subsidiary of the Company. The rating agencies generally utilize proprietary capital adequacy models in the process of establishing ratings for the Company. The Company is at risk of changes in these models and the impact that changes in the underlying business that it is engaged in can have on such models. To mitigate this risk, the Company maintains regular communications with the rating agencies and evaluates the impact of significant transactions on such capital adequacy models and considers the same in the design of transactions to minimize the adverse impact of this risk. Rating agency capital is calculated and analyzed regularly. Stress tests are performed regularly to assess how rating agency capital adequacy models would be impacted by severe economic events. (i) Mortality Risk Mortality risk is the risk that life expectancy assumptions used by the Company to price its products are too high (i.e., insureds live shorter than expected lives). Conversely, longevity risk is the risk that life expectancy assumptions used by the Company to price its products are too low (i.e., insureds live longer than expected lives). The Company mitigates mortality risk primarily through reinsurance, whereby the Company cedes a significant portion of its new and existing mortality to third parties. The Company manages mortality risk through the underwriting process. The Company also manages both mortality and longevity risks by reviewing its mortality assumptions at least annually, and reviewing mortality experience periodically. (j) Lapse Risk Lapse risk is the risk that actual lapse experience evolves differently than the assumptions used for pricing and valuation exercises leading to a significant loss in Company value and/or income. The Company mitigates this risk by performing sensitivity analysis at the time of pricing to affect policy design, regular ALM analysis and regular monitoring of policyholder experience. The Company quantifies lapse risk regularly. (k) Cyber Security Risk Cyber Security Risk is the risk of denial of service and/or losses due to external and internal attacks leading to numerous impacts on systems, data, and key stakeholders (e.g. policyholders, producers, and employees.) The Company has implemented preventative measures for its internet breakout including Advanced Malware Detection, spyware, anti-virus software, phishing filters, email and laptop encryption, web content filtering, and regular scanning of all servers and network devices to identify vulnerabilities. Controls are implemented to prevent and review unauthorized access. (l) Reinsurance Risk Reinsurance risk is the risk that reinsurance companies default on their obligation where the Company has ceded a portion of its insurance risk. The Company uses reinsurance to limit its risk exposure to certain business lines and to enable better capital management. Reinsurance contracts do not relieve the Company from its obligations to policyholders. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company mitigates this risk by requiring certain counterparties to meet thresholds related to the counterparty’s credit rating, exposure, or other factors. If the thresholds are not met by those counterparties, they are required to establish a trust or letter of credit backed by assets meeting certain quality criteria. All arrangements are regularly monitored to determine whether trusts or letters of credit are sufficient to support the ceded liabilities and that their terms are being met. Also, the Company reviews the financial standings and ratings of its reinsurance counterparties and monitors concentrations of credit risk to minimize its exposure to significant losses from reinsurer insolvencies regularly.

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Investments	(4) Investments (a) Fixed-Maturity At December 31, 2015 and 2014, the amortized cost or cost, gross unrealized gains, gross unrealized losses, and fair values of available-for-sale held-to-maturity Amortized cost Gross Gross Fair OTTI in 2015: Fixed-maturity securities, available-for-sale: U.S. government $ 1,682,642 78,089 5,407 1,755,324 653 Agencies not backed by the full faith and credit of the U.S. government 10,474 91 51 10,514 — States and political subdivisions 8,533,503 514,459 49,428 8,998,534 — Foreign government 269,608 9,675 7,116 272,167 — Public utilities 5,798,475 480,099 56,376 6,222,198 189 Corporate securities 50,603,848 2,275,966 1,933,329 50,946,485 (4,640 ) Mortgage-backed securities 12,263,037 296,408 61,646 12,497,799 — Collateralized mortgage obligations 9,208 1,075 — 10,283 — Collateralized debt obligations 9,738 11,573 147 21,164 11,572 Total fixed-maturity securities, available-for-sale 79,180,533 3,667,435 2,113,500 80,734,468 7,774 Fixed-maturity securities, held-to-maturity: Corporate securities 55 10 — 65 — CDOs — 5,214 — 5,214 — Total fixed-maturity securities held-to-maturity 55 5,224 — 5,279 — Equity securities, available-for-sale: Common stock 71,005 — 2,394 68,611 — Total available-for-sale and held-to-maturity securities $ 79,251,593 3,672,659 2,115,894 80,808,358 7,774 Amortized cost Gross Gross Fair OTTI in 2014: Fixed-maturity securities, available-for-sale: U.S. government $ 1,127,783 105,433 262 1,232,954 — Agencies not backed by the full faith and credit of the U.S. government 130,703 14,671 24 145,350 — States and political subdivisions 6,718,229 824,806 2,093 7,540,942 — Foreign government 308,633 13,505 10,463 311,675 — Public utilities 5,482,698 851,165 5,614 6,328,249 484 Corporate securities 45,725,053 4,067,245 294,841 49,497,457 2,579 Mortgage-backed securities 13,415,946 682,880 929 14,097,897 — Collateralized mortgage obligations 10,697 1,335 — 12,032 — Collateralized debt obligations 33,637 11,745 153 45,229 11,719 Total fixed-maturity securities, available-for-sale 72,953,379 6,572,785 314,379 79,211,785 14,782 Fixed-maturity securities, held-to-maturity: Corporate securities 82 15 — 97 — CDOs 180,316 24,076 — 204,392 — Total fixed-maturity securities held-to-maturity 180,398 24,091 — 204,489 — Equity securities, available-for-sale: Common stock 6,180 46 — 6,226 — Total available-for-sale and held-to-maturity securities $ 73,139,957 6,596,922 314,379 79,422,500 14,782 (1) The amount represents the subsequent changes in net unrealized gain or loss on other-than-temporarily The net unrealized gains on available-for-sale 2015 2014 2013 Available-for-sale securities: Fixed maturity $ 1,553,935 6,258,406 3,697,314 Equity (2,394 ) 46 — Held-for-sale securities 798 — — Cash flow hedges 16,013 2,269 1,570 Adjustments for: Shadow adjustments (825,607 ) (3,542,160 ) (2,174,866 ) Deferred taxes (259,961 ) (951,480 ) (533,407 ) Net unrealized gains $ 482,784 1,767,081 990,611 The unrealized gain on held-for-sale securities relates to fixed maturity securities that were transferred from available-for-sale due to the expected sale of a subsidiary. See note 2 for further details. The amortized cost and fair value of available-for-sale fixed-maturity Amortized Fair value Available-for-sale fixed-maturity securities: Due in one year or less $ 1,686,024 1,714,562 Due after one year through five years 12,759,691 13,454,444 Due after five years through ten years 19,854,889 19,656,047 Due after ten years 32,607,684 33,401,333 Mortgage-backed securities and collateralized mortgage obligations 12,272,245 12,508,082 Total available-for-sale fixed-maturity securities $ 79,180,533 80,734,468 The amortized cost and fair value of held-to-maturity fixed-maturity Amortized Fair value Held-to-maturity fixed-maturity securities: Due after one year through five years $ 55 65 Due after ten years — 5,214 Total held-to-maturity fixed-maturity securities $ 55 5,279 Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The amortized cost of fixed-maturity Proceeds from sales of available-for-sale 2015 2014 2013 Available-for-sale: Fixed-maturity securities: Proceeds from sales $ 996,801 1,479,188 2,503,974 Equity securities: Proceeds from sales 58,858 29,209 134,400 As of December 31, 2015 and 2014, investments with a fair value of $45,393 and $52,027, respectively, were held on deposit with various insurance departments and in other trusts as required by statutory regulations. The Company’s available-for-sale fixed-maturity mortgage-backed (b) Unrealized Investment Losses Unrealized losses on available-for-sale 12 months or less Greater than 12 months Total Fair value Unrealized Fair value Unrealized Fair value Unrealized 2015: Fixed-maturity securities, available-for-sale: U.S. government $ 600,970 5,395 4,959 12 605,929 5,407 U.S. government agency 4,536 51 — — 4,536 51 States and political subdivisions 1,873,125 48,306 28,015 1,122 1,901,140 49,428 Foreign government 42,338 1,787 32,219 5,329 74,557 7,116 Public utilities 1,319,479 50,552 20,454 5,824 1,339,933 56,376 Corporate securities 16,369,002 1,265,080 1,639,373 668,249 18,008,375 1,933,329 Mortgage-backed securities 3,066,569 61,030 15,433 616 3,082,002 61,646 CDOs — — 730 147 730 147 Total temporarily impaired securities $ 23,276,019 1,432,201 1,741,183 681,299 25,017,202 2,113,500 12 months or less Greater than 12 months Total Fair value Unrealized Fair value Unrealized Fair value Unrealized 2014: Fixed-maturity securities, available-for-sale: U.S. government $ 23,411 51 23,481 211 46,892 262 U.S. government agency 3,342 24 — — 3,342 24 States and political subdivisions 51,483 599 146,339 1,494 197,822 2,093 Foreign government 66,859 10,463 — — 66,859 10,463 Public utilities 129,018 3,589 35,919 2,025 164,937 5,614 Corporate securities 4,101,602 211,776 1,198,903 83,065 5,300,505 294,841 Mortgage-backed securities 102,104 491 19,724 438 121,828 929 CDOs 4,176 67 19,792 86 23,968 153 Total temporarily impaired securities $ 4,481,995 227,060 1,444,158 87,319 5,926,153 314,379 As of December 31, 2015 and 2014, there were 1,294 and 356 available-for-sale As of December 31, 2015 and 2014, of the total amount of unrealized losses, $1,773,647 or 83.9% and $267,015 or 84.9%, respectively, are related to unrealized losses on investment grade securities. Investment grade is defined as a security having a credit rating of Aaa, Aa, A, or Baa from Moody’s or a rating of AAA, AA, A, or BBB from Standards and Poor’s (S&P), or a NAIC rating of 1 or 2 if a Moody’s or S&P rating is not available. Unrealized losses on securities are principally related to changes in interest rates or changes in sector spreads from the date of purchase. As contractual payments continue to be met, management continues to expect all contractual cash flows to be received. As mentioned in note 2, the Company reviews these securities regularly to determine whether or not declines in fair value are other than temporary. Further, as the Company neither has an intention to sell, nor does it expect to be required to sell the securities outlined above, the Company did not consider these investments to be other-than-temporarily (c) OTTI Losses The following table presents a rollforward of the Company’s cumulative credit impairments on fixed-maturity 2015 2014 Balance as of January 1 $ 36,948 45,722 Additions for credit impariments recognized on (1): Securities not previously impaired 536 — Securities previously impaired 1,086 4,391 Securities that the Company intends to sell or more likely than not be required to sell before recovery (interest) 57,353 2,054 Reductions for credit impairments previously on: Securities that matured, were sold, or were liquidated during the period (36,558 ) (15,219 ) Balance as of December 31 $ 59,365 36,948 (1) There were $58,975 and $6,445 of additions included in the net OTTI losses recognized in Realized investment gains, net in the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, respectively. (d) Realized Investment Gains (Losses) Gross and net realized investment gains (losses) for the years ended December 31, are summarized as follows: 2015 2014 2013 Available-for-sale: Fixed-maturity securities: Gross gains on sales and exchanges $ 108,094 96,698 160,091 Gross losses on sales and exchanges (15,272 ) (11,114 ) (36,798 ) OTTI (57,598 ) (6,445 ) (14,957 ) Net gains on fixed-maturity securities 35,224 79,139 108,336 Equity securities: Gross gains on sales 2 113 — Gross losses on sales (184 ) (1 ) — Net (losses) gains on equity securities (182 ) 112 — Net gains on available-for-sale securities 35,042 79,251 108,336 Held-to-maturity: Gross gains on exchanges 31,832 — 44,179 Gross losses on exchanges (11 ) (84 ) (11 ) OTTI — — (91 ) Net (losses) gains on held-to-maturity securities 31,821 (84 ) 44,077 (Provision) benefit for mortgage loans on real estate (2,400 ) 5,000 18,500 Gains for mortgage loans on real estate — — 4,929 Investment in affiliates — (6,500 ) 11,810 Gain (loss) on real estate sales 5,929 — (29 ) Net gains on sales of acquired loans 24,027 95 674 Other (6 ) — — Net realized investment gains $ 94,413 77,762 188,297 The 2015 realized gain on real estate sales is related to the recognition of a contingent gain as part of the terms of the 2011 sale of the Company’s real estate portfolio. The $31,832 gross gain in held-to-maturity securities relates to the impact of consolidating a CDO investment. See further details relating to the transaction at the end of note 4. The 2014 realized loss and 2013 realized gain on investment in affiliates is related to the disposal of an affiliate investment and subsidiary, respectively. The 2013 realized gain for mortgage loans on real estate is a result of the sale of certain loans to two subsidiary companies of AZOA. (e) Interest and Similar Income Major categories of interest and similar income, net, for the respective years ended December 31 are shown below: 2015 2014 2013 Interest and similar income: Available-for-sale fixed-maturity securities $ 3,752,867 3,552,896 3,185,680 Mortgage loans on real estate 413,103 377,917 367,196 Interest on acquired loans 28,122 27,548 27,817 Investment income on trading securities 16,472 11,645 9,735 Policy loans 9,834 9,981 10,461 Short-term securities 8,761 7,864 5,575 Held-to-maturity fixed-maturity securities 5,746 15,894 26,781 Interest rate swaps 5,197 1,867 697 Other invested assets 3,286 2,083 196 Interest on assets held by reinsurers 2,626 2,798 2,915 Interest on loans to affiliates 516 980 1,549 Rental income on real estate — — 1,462 Total 4,246,530 4,011,473 3,640,064 Less investment expenses 66,427 54,175 47,947 Total interest and similar income, net $ 4,180,103 3,957,298 3,592,117 (f) Mortgage Loans The Company’s investment in mortgage loans on real estate at December 31 is summarized as follows: 2015 2014 Mortgage loans on real estate: Mortgage loans $ 8,825,418 7,217,169 Valuation allowances (37,400 ) (35,000 ) Total mortgage loans on real estate $ 8,788,018 7,182,169 At December 31, 2015, mortgage loans on real estate in California and Illinois exceeded the 10% concentration levels by state with a concentration of 27.7% or $2,448,008 and 11.6% or $1,025,605, respectively. At December 31, 2014, mortgage loans on real estate in California, Texas and Illinois exceeded the 10% concentration levels by state with a concentration of 29.2% or $2,108,890, 10.1% or $729,761 and 10.0% or $722,225, respectively. Interest rates on investments in new mortgage loans ranged from a minimum of 3.3% to a maximum of 4.8%. The valuation allowances on mortgage loans on real estate at December 31 and the changes in the allowance for the years then ended are summarized as follows: 2015 2014 2013 Balance, beginning of year $ 35,000 66,750 85,250 Release due to discounted payoff — (26,750 ) — Provision (benefit) charged to operations 2,400 (5,000 ) (18,500 ) Balance, end of year $ 37,400 35,000 66,750 In 2015, the Company reevaluated the allowance related to the remainder of the mortgage loan portfolio, resulting in an increase of the provision of $2,400. In 2014, the decrease to the valuation allowance on mortgage loans is a result of the Company releasing a specific reserve of $26,750 on one mortgage loan that was paid-off. The Company also reevaluated the allowance related to the remainder of the mortgage loan portfolio, resulting in a reduction of the provision of $5,000. In 2013, the decrease to the valuation allowance on mortgage loans is a result of the Company reducing a specific reserve on one mortgage loan in the amount of $13,500 related to a change in the estimate of realizable value of the underlying collateral. The Company also reevaluated the allowance related to the remainder of the mortgage loan portfolio during 2013, which resulted in a reduction of the provision of $5,000. (g) Securities Lending The Company had fair value of securities on loan of $2,392,657 and $2,280,442, in fixed-maturity (h) Variable Interest Entities In the normal course of business, the Company enters into relationships with various entities that are deemed to be a VIE. A VIE is an entity that either (1) has equity investors that lack certain essential characteristics of a controlling financial interest (including the ability to control activities of the entity, the obligation to absorb the entity’s expected losses, and the right to receive the entity’s expected residual returns) or (2) lacks sufficient equity to finance its own activities without financial support provided by other entities, which in turn would be expected to absorb at least some of the expected losses of the VIE. The Company’s held-to-maturity asset-backed asset-backed mortgage-backed asset-backed mortgage-backed In addition, the Company invests in structured securities including VIEs. These structured securities typically invest in fixed-income mortgage-backed The Company has carefully analyzed the VIEs to determine whether the Company is the primary beneficiary, taking into consideration whether the Company, or the Company together with its affiliates, has the power to direct the activities of the VIE, that most affect its economic performance and whether the Company has the right to benefits from the VIE. Based on that analysis, the Company has concluded that it is not the primary beneficiary for all but one of the Company’s VIEs and, as such, only one VIE was consolidated in the Consolidated Financial Statements. The non-consolidated CDO is classified as Fixed-maturity held-to-maturity Fixed-maturity available-for-sale Due to the ability to influence returns of the collateral manager, the Company determined in 2015, that consolidation is required for one VIE. The triggering event for consolidation occurred when the Company entered into an agreement with the collateral manager to liquidate some or all of the collateral underlying several classes of notes within one of the CDOs. Creditors of the consolidated VIE do not have any recourse on the Company. The Company does not have any implicit or explicit arrangements to provide financial support to the consolidated VIE. Upon initial consolidation, the Company recorded a gain of $31,832 in Realized investment gains, net on the Consolidated Statements of Operations. The consolidated CDO had net assets of approximately $158,804 as of June 30, 2015. At the Company’s direction, the collateral manager liquidated $163,389 of assets at auction, of which. $96,046 were purchased by the Company. The assets purchased at auction are reported at amortized cost as Acquired loans and at fair value as Fixed-maturity securities, Available-for-sale Available-for-sale. Available-for-sale The Company has $2,789 in liabilities recorded as of December 31, 2015, related to this entity representing its obligation to pay junior tranche noteholders expected discounted future payments in accordance with the contractual priority of payments. The liability is reported in Other liabilities on the Consolidated Balance Sheets. During 2013, the Company issued an acceleration direction to the trustee of one of the Company’s CDOs. The trustee then issued a notice of acceleration to the noteholders and beneficial owners notifying them that the principal and all accrued and unpaid interest on the notes are immediately due and repayable. As a result of this acceleration the underlying collateral was sold at auction. The Company received cash of $253,125 for securities with a book value of $208,946 resulting in a realized gain of $44,179. (i) Redeemable Preferred Stock AZL PF Investments, Inc. (AZLPF), a wholly owned subsidiary of the Company, issued redeemable preferred stock as a result of a prepaid forward agreement settled in 2012. The preferred stock liability of $32,195 was recorded at December 31, 2015 and 2014 and is reported in Other liabilities on the Consolidated Balance Sheets. The preferred stock is mandatorily redeemable on January 9, 2017.

Derivatives and Hedging Instrum

Derivatives and Hedging Instruments	12 Months Ended
	Dec. 31, 2015
Derivatives and Hedging Instruments	(5) Derivatives and Hedging Instruments The Company uses exchange traded and OTC derivative instruments as a risk management strategy to hedge its exposure to various market risks associated with both its products and operations. Derivative assets and liabilities are recorded at fair value in the Consolidated Financial Statements using valuation techniques further discussed in note 6. Each derivative is designated by the Company as either a cash flow hedging instrument (cash flow hedge) or not qualified as a hedging instrument (nonqualifying strategies). Cash Flow Hedges IRS were used by the Company to hedge against the changes in cash flows associated with variable interest rates on certain underlying fixed-maturity fixed-maturity The following table presents the components of the gains or losses related to the effective portion of the derivatives that qualify as cash flow hedges: Derivatives designated as Amount of gains (losses) cash flow hedging instruments 2015 2014 2013 Interest rate swaps, net of tax benefit of ($332), ($217), and ($238), at December 31, 2015, 2014, and 2013, respectively $ (617 ) (403 ) (443 ) Foreign currency swaps, net of tax expense of $15,550, $4,683, and $0 at December 31, 2015, 2014, and 2013, respectively 28,879 8,698 — Total $ 28,262 8,295 (443 ) At December 31, 2015, the Company does not expect to reclassify any pretax gains or losses on cash flow hedges into earnings during the next 12 months. Recurring interest income earned is recorded in Interest and similar income, net in the Consolidated Statements of Operations. The Company has estimated $7,039 of interest income will be earned in 2016 from the cross currency swaps. In the event that cash flow hedge accounting is no longer applied, because the derivatives are no longer designated as a hedge, or the hedge is not considered to be highly effective, the reclassification from accumulated other comprehensive income into earnings may be accelerated. Nonqualifying Strategies Option Contracts The Company utilizes OTC options and ETOs with the objective to economically hedge certain fixed-indexed exchange-cleared As of December 31, the Company held options purchased (asset) and options sold (liability) with the following amortized cost basis, fair value, and notional amounts: 2015 2014 Options: Purchased (asset): Amortized cost $ 589,415 516,120 Fair value 359,949 504,309 Notional 28,073,842 40,747,227 Sold (liability): Basis $ 341,266 323,227 Fair value 226,761 322,185 Notional 24,549,455 32,723,520 Futures The Company utilizes exchange traded futures to economically hedge fixed-indexed Interest Rate Swaps The Company utilizes OTC and exchange traded IRS to economically hedge certain variable annuity and fixed-index annuity guarantees. The Company can receive the fixed or variable rate. The IRS are traded in varying maturities. The Company only enters into OTC IRS contracts with counterparties rated BBB+ or better. IRS traded after May 2013 are centrally cleared through an exchange. For IRS traded prior to June 2013, the interest rate swap exposure was netted with other OTC derivatives upon settlement and were subject to the rules of the International Swaps and Derivatives Association, Inc. agreements. The fair values of the collateral posted for OTC and exchange traded derivatives are discussed in the derivative collateral management section below. Total Return Swaps The Company engages in the use of OTC Total Return Swaps (TRS), which allow the parties to exchange cash flows based on a variable reference rate such as the three-month fixed-indexed To Be Announced Securities Beginning in 2015, the Company began transacting OTC To Be Announced (TBA) securities to economically hedge market risks embedded in certain life and annuity products. The Company uses the OTC TBA forward contracts to gain exposure to the investment risk and return of mortgage-backed securities. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at a specified future date. The Company is exposed to market risk to the extent the Company is over or under-hedged from an economic perspective. To mitigate counterparty credit risk, the Company establishes relationships with only counterparties rated BBB+ and higher. The fair value of the collateral posted for OTC derivatives is discussed in the derivative collateral management section below. Credit Default Swaps The Company utilizes exchange traded CDS, to economically hedge certain fixed-indexed The following table presents the notional amount, fair value, weighted average years to maturity, underlying referenced credit obligation type, and average credit ratings for the credit derivatives in which the Company was assuming credit risk as of December 31, 2015 and 2014: Credit Derivative type by derivative risk exposure and reference type Notional Fair Value Weighted Average 2015: Basket credit default swaps Investment grade risk exposure U.S. corporate credit $ 150,900 1,569 7 BBB+ Total $ 150,900 1,569 2014: Basket credit default swaps Investment grade risk exposure U.S. corporate credit $ 145,300 2,364 8 BBB+ Below investment grade risk Emerging markets sovereign credit 6,200 (642 ) 11 BBB- Total $ 151,500 1,722 Derivative Collateral Management The Company manages separate collateral for exchange traded and OTC derivatives. The total collateral posted for exchange traded derivatives at December 31, 2015 and 2014, had a fair value of $1,019,112 and $1,226,231, respectively, and is included in Fixed-maturity Fixed-maturity Stock Appreciation Rights The Company also enters into contracts with Allianz SE with the objective to economically hedge risk associated with the Allianz SE stock-based stock-based Embedded Derivatives The Company issues certain variable annuity products with guaranteed minimum benefit riders, including GMWB and GMAB, which are measured at fair value separately from the host variable annuity contract, with changes in fair value reported in Change in fair value of annuity and life embedded derivatives on the Consolidated Statements of Operations. These embedded derivatives are classified within Account balances and future policy benefit reserves on the Consolidated Balance Sheets. Certain fixed-indexed equity-indexed The Company bifurcated and separately recorded an embedded derivative related to certain CDOs. The last of these CDOs was liquidated in 2015. See note 4 for further detail relating to the liquidation of this CDO. The embedded derivative was recorded within Derivatives on the Consolidated Balance Sheets, with changes in fair value reported in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. The following table presents the balance sheet location and the fair value of the derivatives, including embedded derivatives, for both cash flow hedges and nonqualifying strategies as of December 31: Fair value Derivatives designated as cash flow hedging instruments 2015 2014 Interest rate swaps $ — 950 Foreign currency swaps 53,794 15,647 Total cash flow hedging instruments $ 53,794 16,597 Derivatives designated as nonqualifying hedging instruments and certain hedged items, net OTC $ 132,574 180,789 ETO — 33 SARs 614 1,302 GMWB (2,170,539 ) (1,491,280 ) GMAB (374,857 ) (264,857 ) MVLO (14,495,312 ) (14,903,758 ) CDO embedded derivative — 3,669 TRS (31,462 ) 7,156 Other embedded derivative 3,097 1,673 Interest rate swaps 82,705 62,297 TBA Securities (34 ) — Total nonqualifying hedging instruments (16,853,214 ) (16,402,976 ) Total derivative instruments $ (16,799,420 ) (16,386,379 ) Location in Consolidated Balance Sheets Derivatives $ 591,609 721,736 Account balances and future policy benefit reserves (17,040,708 ) (16,659,895 ) Derivative liability (350,321 ) (448,220 ) Total derivative instruments $ (16,799,420) (16,386,379) The following table presents the gains or losses recognized in income on the various nonqualifying strategies: Derivatives designated as nonqualifying hedging instruments and Location in Consolidated Amount of (losses) gains on derivatives certain hedged item, net Statements of Operations 2015 2014 2013 MVLO Policy fees $ 79,951 194,229 568,744 MVLO Policyholder benefits 115,737 2,159 10,191 MVLO Change in fair value of annuity and life embedded derivatives 212,758 (3,344,049 ) (2,677,038 ) GMWB Change in fair value of annuity and life embedded derivatives (679,259 ) (1,445,524 ) 912,073 GMAB Change in fair value of annuity and life embedded derivatives (122,094 ) (166,411 ) 166,904 Total change in fair value of annuity and life embedded derivatives (588,595 ) (4,955,984 ) (1,598,061) OTC Change in fair value of assets and liabilities (361,419 ) 862,097 (479,713 ) ETO Change in fair value of assets and liabilities 291 66,855 (11,538 ) Futures Change in fair value of assets and liabilities (423,134 ) (267,628 ) 1,693,399 SARs Change in fair value of assets and liabilities 630 69 1,823 CDO embedded derivative Change in fair value of assets and liabilities (188 ) (150 ) (119 ) Other embedded derivatives Change in fair value of assets and liabilities 1,423 (230 ) (623 ) Forward commitments Change in fair value of assets and liabilities 330 — — Interest rate swaps Change in fair value of assets and liabilities 279,158 1,085,355 (684,511 ) TRS Change in fair value of assets and liabilities 4,093 113,236 391,726 Credit Default Swaps Change in fair value of assets and liabilities (2,220 ) (626 ) — Total change in fair value of freestanding and other derivatives (501,036 ) 1,858,978 910,444 Total derivative loss, net $ (893,943) (2,900,618 ) (108,682 ) Offsetting Assets and Liabilities Certain financial instruments and derivative instruments are eligible for offset in the Consolidated Balance Sheets under GAAP. The Company’s derivative instruments are subject to master netting arrangements and collateral arrangements. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Company’s policy is to recognize amounts subject to master netting arrangements on a gross basis on the Consolidated Balance Sheets. The following tables present additional information about derivative assets and liabilities subject to an enforceable master netting arrangement as of the dates indicated: December 31, 2015 Gross amounts not offset in the Balance Sheet Gross Gross Net amounts Financial (1) Collateral Net Derivative assets $ 587,898 — 587,898 (346,116 ) (216,659 ) 25,123 Derivative liabilities (350,276 ) — (350,276 ) 346,116 4,160 — Net derivatives $ 237,622 — 237,622 — (212,499 ) 25,123 December 31, 2014 Gross amounts not offset in the Balance Sheet Gross Gross Net amounts Financial (1) Collateral Net Derivative assets $ 715,092 — 715,092 (424,495 ) (212,596 ) 78,001 Derivative liabilities (448,220) — (448,220 ) 424,495 23,352 (373 ) Net derivatives $ 266,872 — 266,872 — (189,244 ) 77,628 (1) Represents the amount of assets or liabilities that could be offset by liabilities or assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. In the tables above, the gross amounts of assets or liabilities as presented in the Consolidated Balance Sheets are offset first by financial instruments that have the right of offset under master netting or similar arrangements, then any remaining amount is reduced by the amount of cash and securities collateral.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements	(6) Fair Value Measurements The following assets and liabilities are carried at fair value on a recurring basis in the Company’s Consolidated Financial Statements: available-for-sale fixed-maturity The Fair Value Measurements and Disclosures Topic of the Codification establishes a fair value hierarchy that prioritizes the inputs used in the valuation techniques to measure fair value. Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 2 – Valuations derived from techniques that utilize observable inputs, other than quoted prices included in Level 1, which are observable for the asset or liability either directly or indirectly, such as: (a) quoted prices for similar assets or liabilities in active markets. (b) quoted prices for identical or similar assets or liabilities in markets that are not active. (c) inputs other than quoted prices that are observable. (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 – Valuations derived from techniques in which the significant inputs are unobservable. Level 3 fair values reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). The Company has analyzed the valuation techniques and related inputs, evaluated its assets and liabilities reported at fair value, and determined an appropriate fair value hierarchy level based upon trading activity and the observability of market inputs. Based on the results of this evaluation and investment class analysis, each valuation was classified into Level 1, 2, or 3. Transfers of securities among the levels occur at the beginning of the reporting period. The following tables present the assets and liabilities measured at fair value on a recurring basis and their corresponding level in the fair value hierarchy at December 31: Total Level 1 Level 2 Level 3 2015: Assets accounted for at fair value: Fixed-maturity securities, available-for-sale: U.S. government $ 1,755,324 1,755,324 — — Agencies not backed by the full faith and credit of the U.S. government 10,514 — 10,514 — States and political subdivisions 8,998,534 — 8,998,035 499 Foreign government 272,167 — 238,794 33,373 Public utilities 6,222,198 — 5,572,340 649,858 Corporate securities 50,946,485 — 44,574,746 6,371,739 Mortgage-backed securities 12,497,799 — 12,442,893 54,906 CMOs 10,283 — 10,283 — CDOs 21,164 — — 21,164 Fixed-maturity securities, at fair value through income 37,111 37,111 — — Derivative investments 591,609 — 589,259 2,350 Equity securities, available-for-sale 68,611 68,611 — — Equity securities, trading 292,816 269,956 22,860 — Corporate-owned life insurance 316,926 — 316,926 — Separate account assets 28,243,123 28,243,123 — — Total assets accounted for at fair value $ 110,284,664 30,374,125 72,776,650 7,133,889 Liabilities accounted for at fair value: Derivative liabilities $ 350,321 — 316,509 33,812 Separate account liabilities 28,243,123 28,243,123 — — Reserves at fair value (1) 18,096,009 — — 18,096,009 Total liabilities accounted for at fair value $ 46,689,453 28,243,123 316,509 18,129,821 Total Level 1 Level 2 Level 3 2014: Assets accounted for at fair value: Fixed-maturity securities, available-for-sale: U.S. government $ 1,232,954 1,232,954 — — Agencies not backed by the full faith and credit of the U.S. government 145,350 — 145,350 — States and political subdivisions 7,540,942 — 7,540,942 — Foreign government 311,675 — 277,528 34,147 Public utilities 6,328,249 — 5,807,050 521,199 Corporate securities 49,497,457 — 44,284,896 5,212,561 Mortgage-backed securities 14,097,897 — 14,096,565 1,332 CMOs 12,032 — 12,032 — CDOs 45,229 — — 45,229 Fixed-maturity securities, at fair value through income 41,223 41,223 — — Derivative investments 721,736 32 710,121 11,583 Equity securities, available-for-sale 6,226 6,226 — — Equity securities, trading 314,023 286,971 27,052 — Corporate-owned life insurance 312,419 — 312,419 — Separate account assets 30,789,371 30,789,371 — — Total assets accounted for at fair value $ 111,396,783 32,356,777 73,213,955 5,826,051 Liabilities accounted for at fair value: Derivative liabilities $ 448,220 — 447,463 757 Separate account liabilities 30,789,371 30,789,371 — — Reserves at fair value (1) 17,052,283 — — 17,052,283 Total liabilities accounted for at fair value $ 48,289,874 30,789,371 447,463 17,053,040 (1) Reserves at fair value are reported in Account balances and future policy benefit reserves on the Consolidated Balance Sheets. The following is a discussion of the methodologies used to determine fair values for the assets and liabilities listed in the above table. These fair values represent an exit price (i.e., what a buyer in the marketplace would pay for an asset in a current sale or charge to transfer a liability). (a) Valuation of Fixed-Maturity The fair value of fixed-maturity broker-dealer two-sided difficult-to-price Generally, Treasury securities and exchange-traded third-party The Company is responsible for establishing and maintaining an adequate internal control structure to prevent or detect material misstatements related to fair value measurements and disclosures. This responsibility is especially important when using third parties to provide valuation services. The Company’s control framework around third-party In addition to monitoring the third-party There are limited instances in which the primary third-party At December 31, 2015 and 2014, private placement securities of $6,685,280 and $5,461,205, respectively, were included in Level 3. Internal pricing models based on market proxy securities and U.S. Treasury rates, which are monitored monthly by the investment manager for reasonableness, are used to value these holdings. This includes ensuring there are no significant credit events impacting the proxy security and that the spreads used are still reasonable under the circumstances. The portfolios of securities received as a result of liquidating or consolidating CDOs were priced using a combination of third-party (b) Valuation of Derivatives Active markets for OTC option assets and liabilities do not exist. The fair value of OTC option assets and liabilities is derived internally, by calculating their expected discounted cash flows, using a set of calibrated, risk-neutral Certain derivatives are priced using external third-party third-party (c) Valuation of Corporate-Owned Life Insurance The Company holds COLI policies with unrelated third parties. The cash surrender value of the policies is based on the value of the underlying assets, which are regularly priced. The cash surrender value approximates fair value for these policies and is considered Level 2 based on the use of observable inputs. (d) Valuation of Separate Account Assets and Liabilities Separate account assets are carried at fair value, which is based on the fair value of the underlying assets. Funds in the separate accounts are primarily invested in variable investment options with the following investment types: bond, domestic equity, international equity, or specialty. The separate account funds also hold certain money market funds. Variable investments are included in Level 1. The remaining investments are categorized similar to the investments held by the Company in the general account (e.g., if the separate account invested in corporate bonds or other fixed-maturity (e) Valuation of Reserves at Fair Value Reserves at fair value principally include the equity-indexed fixed-indexed The fair value of the embedded derivative contained in the fixed-indexed interest/equity-indexed The Company issues certain variable annuity products with guaranteed minimum benefit riders, including GMWB and GMAB riders. The fair value for these riders is estimated using the present value of future benefits minus the present value of future fees using actuarial and capital market assumptions related to the projected cash flows over the expected lives of the contracts. A risk neutral valuation methodology is used under which the cash flows from the riders are projected under multiple capital market scenarios using observable overnight index swap rates (OIS) plus funding valuation adjustments, as approximated by LIBOR. These cash flows are then discounted using the current month’s LIBOR plus a company specific spread. Beginning in December of 2014, the expected life-contingent GMWB payments are discounted using a blend of short and long term rates to the date the account value is expected to be exhausted. These obligations are then discounted to the current date using LIBOR plus a spread for the Company’s own nonperformance risk. In 2012 and prior years, these cash flows were discounted using the U.S. Treasury rate plus a company specific spread. The valuation of these riders includes an adjustment for the Company’s own credit standing and a risk margin for noncapital market inputs. The Company’s own credit adjustment is determined taking into consideration publicly available information relating to the Company’s claims paying ability. Risk margin is established to capture the noncapital market risks of the instrument, which represent the additional compensation a market participant would require to assume the risks related to the uncertainties of certain actuarial assumptions including surrenders, annuitization, and premium persistency. The establishment of the risk margin requires the use of significant management judgment. These riders may be more costly than expected in volatile or declining equity markets. Market conditions including, but not limited to, changes in interest rates, equity indices, market volatility, changes in the Company’s own credit standing, and variations in actuarial assumptions regarding contractholder behavior and risk margins related to noncapital market inputs may result in significant fluctuations in the fair value of the riders that could materially affect net income. The Company elected the fair value option for certain insurance contracts related to the variable index annuity product. The fair value is calculated internally using the present value of future expected cash flows. Future expected cash flows are generated using contractual features, actuarial assumptions, and market emergence over a complete set of market consistent scenarios. Cash flows are then averaged over the scenario set and discounted back to the valuation date using the appropriate discount factors adjusted for nonperformance risk on the noncollateralized portions of the contract. The Company also has an embedded derivative asset related to a modified coinsurance agreement with an unrelated third party, which is reported within Derivatives on the Consolidated Balance Sheets. This agreement results in a credit derivative, with a fair value based on the difference between the LIBOR and Corporate A- (f) Level 3 Rollforward The following table provides a reconciliation of the beginning and ending balances for the Company’s Level 3 assets and liabilities measured at fair value on a recurring basis: Realized gains (losses) included in net income Total realized/unrealized related to gains (losses) included in financial Other Purchases Sales Transfer into instruments Beginning comprehensive and and and/or (out of) Ending still held at balance Net income income (loss) issuances settlements Level 3, net balance December 31 2015: Fixed-maturity securities: Available-for-sale: States and political subdivisions $ — — (1 ) 500 — — 499 — Foreign government 34,147 — (774 ) — — — 33,373 — Public utilities 521,199 (1,025 ) (26,113 ) 161,600 (5,803 ) — 649,858 (1,024 ) Corporate securities 5,212,561 (19,428 ) (313,328 ) 1,820,806 (329,689 ) 817 6,371,739 (26,502 ) CDOs 45,229 516 (167 ) — (24,414 ) — 21,164 36 Mortgage-backed 1,332 30 (2 ) — (1,314 ) 54,860 54,906 — Total fixed-maturity securities $ 5,814,468 (19,907 ) (340,385 ) 1,982,906 (361,220 ) 55,677 7,131,539 (27,490 ) Derivative assets $ 11,583 182,923 — — (192,156 ) — 2,350 2,917 Derivative liabilities (757 ) (179,854 ) — — 146,799 — (33,812 ) (28,494 ) Reserves at fair value (17,052,283 ) 273,778 — (2,687,078 ) 1,369,574 — (18,096,009 ) (2,413,300 ) Realized gains (losses) included in net income Total realized/unrealized related to gains (losses) included in financial Other Purchases Sales Transfer into instruments Beginning comprehensive and and and/or (out of) Ending still held at balance Net income income (loss) issuances settlements Level 3, net balance December 31 2014: Fixed-maturity securities: Available-for-sale: Foreign government $ 33,284 — 863 — — — 34,147 — Public utilities 201,195 (63 ) 21,494 205,774 (8,435 ) 101,234 521,199 (63 ) Corporate securities 3,727,803 (3,046 ) 138,923 1,432,088 (144,367 ) 61,160 5,212,561 (11,865 ) CDOs 56,872 2,488 (592 ) — (13,539 ) — 45,229 1,615 Mortgage-backed securities 3,080 112 (41 ) — (1,819 ) — 1,332 112 Total fixed-maturity securities $ 4,022,234 (509 ) 160,647 1,637,862 (168,160 ) 162,394 5,814,468 (10,201 ) Derivative assets $ 8,666 240,700 — — (237,783 ) — 11,583 2,917 Derivative liabilities (29,251 ) (128,330 ) — — 156,824 — (757 ) 28,494 Reserves at fair value (11,943,461 ) (4,077,424 ) — (2,166,876 ) 1,135,478 — (17,052,283 ) (6,244,300 ) (g) Transfers The Company reviews its fair value hierarchy classifications annually. This review could reveal that previously observable inputs for specific assets or liabilities are no longer available or reliable. For example, the market for a Level 1 asset becomes inactive. In this case, the Company may need to adopt a valuation technique that relies on observable or unobservable components causing the asset to be transferred to Level 2 or Level 3. Alternatively, if the market for a Level 3 asset or liability becomes active, the Company will report a transfer out of Level 3. Transfers into and/or out of Levels 1, 2, and 3 are reported as of the end of the period in which the change occurs. The net transfers into Level 3 for the year ended December 31, 2015 and 2014 are a result of observable inputs no longer being used. There were no transfers between Level 1 and Level 2 for the year ended December 31, 2015 and 2014. In 2015, the Mortgage-backed securities transfer into Level 3 related to a Company policy change of valuing certain bonds without active trading markets. (h) Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs The following table provides a summary of the significant unobservable inputs used in the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities on a recurring basis at December 31: Fair value Valuation Technique Unobservable input Range (weighted 2015: Fixed-maturity securities: Available-for-sale: States and political subdivisions $ 499 Discounted cash flow Option adjusted spread 206-206 (206) Foreign government 33,373 Matrix pricing Option adjusted spread 132-182 (165) Public utilities 649,858 Matrix pricing Option adjusted spread 94-492 (193) Corporate securities 6,371,739 Matrix pricing Option adjusted spread 40-1,415 (234) CDOs 21,164 Intex discounted Constant prepayment rate 0%–25% cash flows Loss severity 12%–100% Annual default rate 0.19%–100% Mortgage back securities 54,906 Intex discounted Constant prepayment rate 0%–25% cash flows Loss severity 12%–100% Annual default rate 0.19%–100% Derivative assets: TRS $ 2,350 Third-Party Vendor Spread and discount rates * Derivative liabilities: TRS (33,812) Third-Party Vendor Spread and discount rates * Reserves at Fair Value: MVLO $ (14,495,312) Discounted cash flow Annuitizations 0–25% Surrenders 0–25% Mortality** 0–100% Withdrawal Benefit Election 0-50% GMWB and GMAB (2,545,396) Discounted cash flow Surrenders 0.5–35% Mortality** 0–100% * Management does not have insight into the specific assumptions used. See narrative below for qualitative discussion. ** Mortality assumptions are derived by applying management determined factors to the Annuity 2000 Mortality Table for MVLO and actively issued GMWB and GMAB and the 1994 MGDB Mortality Table for all other GMWB and GMAB. (i) Sensitivity of Fair Value Measurements to Changes in Unobservable Inputs Fixed-maturity Fixed-maturity Derivative assets and liabilities: third-party Reserves at fair value: (j) Nonrecurring Fair Value Measurements Occasionally, certain assets and liabilities are measured at fair value on a nonrecurring basis. There were no nonrecurring fair value adjustments recorded in 2015, 2014 or 2013. (k) Fair Value of Financial Assets and Liabilities The following table presents the carrying amounts and fair values of financial assets and liabilities carried at book value at December 31: 2015 Carrying amount Fair value Level 1 Level 2 Level 3 Total Financial assets: Held-to-maturity fixed-maturity securities $ 55 — — 5,279 5,279 Mortgage loans on real estate 8,788,018 — — 9,042,293 9,042,293 Loans to affiliates 33,005 — — 32,733 32,733 Policy loans 163,129 — 163,129 — 163,129 Acquired loans 224,083 — — 271,927 271,927 Other invested assets 92,977 — — 92,977 92,977 Financial liabilities: Investment contracts $ 89,282,957 — — 90,027,198 90,027,198 Other liabilities 500,000 — — 499,079 499,079 Mortgage notes payable 84,761 — — 98,890 98,890 2014 Carrying amount Fair value Level 1 Level 2 Level 3 Total Financial assets: Held-to-maturity fixed-maturity securities $ 180,398 — — 204,489 204,489 Mortgage loans on real estate 7,182,169 — — 7,618,106 7,618,106 Loans to affiliates 850,115 — 850,115 — 850,115 Policy loans 160,141 — 160,141 — 160,141 Acquired loans 201,268 — 175,888 97,487 273,375 Other invested assets 75,041 — — 75,041 75,041 Financial liabilities: Investment contracts $ 84,156,386 — — 84,921,955 84,921,955 Mortgage notes payable 92,184 — — 109,119 109,119 The Company has portfolios of certain fixed-maturity “held-to-maturity,” The fair value of mortgage loans on real estate is calculated by analyzing individual loans and assigning ratings to each loan based on a combination of loan-to-value The fair value of loans to affiliates balance comprises investments in a cash pool managed by Allianz SE (Cash Pool) and a note receivable from a related party. The Cash Pool does not carry a quoted market price and investment access is limited to entities within the Allianz SE holding company structure. However, the Cash Pool comprises various short term investments whose fair value is based on market observable inputs. Therefore, fair value is classified as Level 2. The note receivable is valued by using an internal valuation comprised of discounted cash flows dependent on unobservable inputs. Therefore, fair value is classified as Level 3. Policy loans, are supported by the underlying cash value of the policies, are carried at unpaid principal balances, which approximate fair value. Therefore, fair value is classified as Level 2. The Company has a portfolio of assets as part of the liquidation and consolidation of CDO investments. A portion of these acquired assets have deteriorated credit quality and are recorded as acquired loans. Acquired loans are initially recorded at fair value, and changes in expected cash flows are recorded as adjustments to accretable yield, to the carrying amount, or both. Fair values are obtained using a combination of third-party Other invested assets relate to an investment in FHLB stock, certain loan receivables, and miscellaneous partnership investments. The loan receivables and partnership investments are carried at cost, and are classified as Level 3 because there is no active market and the fair value is not readily determinable. The FHLB investment is carried at cost, which approximates fair value and is classified as Level 3 due to transfer restrictions and lack of liquidity. The Company held FHLB stock of $50,000 and $30,000 at December 31, 2015 and 2014, respectively. Investment contracts include certain reserves related to deferred annuity products. These reserves are included in the Account balances and future policy benefit reserves on the Consolidated Balance Sheets. The fair values of the investment contracts, which include deferred annuities and other annuities without significant mortality risk, are determined by testing amounts payable on demand against discounted cash flows using market interest rates commensurate with the risks involved, including consideration of the Company’s own credit standing and a risk margin for noncapital market inputs. The Company has a funding agreement with a balance of $500,000 at December 31, 2015 and 2014. In 2015, the Company obtained an advance from FHLB which has a balance of $500,000 as of December 31, 2015, and is recorded in Other liabilities on the Consolidated Balance Sheets. Collateral posted on the FHLB funding agreement and FHLB advance for the years ended December 31, 2015 was $1,313,443. Collateral posted on the FHLB funding agreement was $655,031 for the year ended December 31, 2014. The fair value of mortgage notes payable is the sum of the outstanding balance of the note payable plus the expected prepayment penalty due to the lender if the Company were to prepay the mortgage. The Company believes this approximates fair value, as the calculation of the prepayment penalty is based on current market interest rates and represents lost interest to the lender. The penalty is based on specific provisions provided by the lender, which is an unobservable input; therefore, the liability is classified as Level 3. Changes in market conditions subsequent to year-end year-end

Financing Receivables

Financing Receivables	12 Months Ended
	Dec. 31, 2015
Financing Receivables	(7) Financing Receivables The Company’s financing receivables comprise mortgage loans, nontrade receivables, loans to affiliates, and loans to non-affiliates. Mortgage loans consist of the unpaid balance of mortgage loans on real estate. Nontrade receivables are amounts for policy or contract premiums due from the agents and broker-dealers, Rollforward of Allowance for Credit Losses The allowances for credit losses and recorded investment in financing receivables as of December 31 are shown below: Mortgage Nontrade Loans to Loans to non-affiliates Total 2015: Allowance for credit losses: Beginning balance $ 35,000 6,486 — — 41,486 (Benefit)/provision 2,400 (961 ) — — 1,439 Ending balance 37,400 5,525 — — 42,925 Ending balance individually evaluated for impairment — — — — — Ending balance collectively evaluated for impairment $ 37,400 5,525 — 42,925 Financing receivables: Ending balance $ 8,825,418 30,557 33,000 11,341 8,900,316 Ending balance individually evaluated for impairment — — — — — Ending balance collectively evaluated for impairment $ 8,825,418 30,557 33,000 11,341 8,900,316 Mortgage Nontrade Loans to Loans to non-affiliates Total 2014: Allowance for credit losses: Beginning balance $ 66,750 6,217 — — 72,967 (Benefit)/provision (31,750 ) 269 — — (31,481 ) Ending balance 35,000 6,486 — — 41,486 Ending balance individually evaluated for impairment — 1,505 — — 1,505 Ending balance collectively evaluated for impairment $ 35,000 4,981 — — 39,981 Financing receivables: Ending balance $ 7,217,169 31,962 — 30,335 7,279,466 Ending balance individually evaluated for impairment — 1,505 — 30,335 31,840 Ending balance collectively evaluated for impairment $ 7,217,169 30,457 — — 7,247,626 Credit Quality Indicators The Company analyzes certain financing receivables for credit risk by using specific credit quality indicators. The Company has determined the loan-to-value loan-to-value The loan-to-value 2015 2014 Less than 50% $ 3,562,574 40.4 % $ 2,439,554 33.9 % 50% – 60% 2,650,959 30.0 1,849,502 25.6 60% – 70% 2,098,581 23.8 2,072,965 28.7 70% – 80% 317,950 3.6 599,743 8.3 80% – 90% 182,112 2.0 209,957 2.9 90% – 100% 13,242 0.2 13,426 0.2 Greater than 100% — — 32,022 0.4 Total $ 8,825,418 100.0 % $ 7,217,169 100.0 % The debt service coverage ratio as of December 31 is shown below: 2015 2014 Debt service coverage ratio: Greater than 1.4x $ 6,884,063 5,204,622 1.2x – 1.4x 1,418,724 1,208,043 1.0x – 1.2x 359,399 656,376 Less than 1.0x 163,232 148,128 Total commercial mortgage loans $ 8,825,418 7,217,169 The Company’s nontrade receivables are analyzed for credit risk based upon the customer classification of agent or reinsurer. The nontrade receivable and allowance for credit losses by customer classification as of December 31 are shown below: 2015 2014 Agent Reinsurer Total Agent Reinsurer Total Nontrade receivables $ 6,976 23,581 30,557 6,835 25,127 31,962 Allowance for credit losses (5,525 ) — (5,525 ) (4,981 ) (1,505 ) (6,486 ) Net nontrade receivables $ 1,451 23,581 25,032 1,854 23,622 25,476 Past-Due Aging analysis of past-due 31–60 days 61–90 days Greater than Total past due Current (1) Total 2015: Mortgage loans $ — — — — 8,825,418 8,825,418 Nontrade receivables 6,893 1,796 5,629 14,318 16,239 30,557 Loans to affiliates — — — — 33,000 33,000 Loans to non-affiliates 60 — — 60 11,281 11,341 Total $ 6,953 1,796 5,629 14,378 8,885,938 8,900,316 31–60 days 61–90 days Greater than Total Current (1) Total 2014: Mortgage loans $ — — — — 7,217,169 7,217,169 Nontrade receivables 3,794 2,533 7,021 13,348 18,614 31,962 Loans to non-affiliates — — — — 30,335 30,335 Total $ 3,794 2,533 7,021 13,348 7,266,118 7,279,466 As of December 31, 2015 and 2014, the Company’s financing receivables did not include any balances, which are on a nonaccrual status, classified as a troubled debt restructuring, or impaired without a corresponding allowance for credit loss.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2015
Goodwill	(8) Goodwill Goodwill at December 31, 2015 and 2014, and the changes in the balance for the years then ended are as follows: 2015 2014 Balance, beginning of year $ 482,905 484,401 Reduction in goodwill due to sale of minority interest (1) — (1,496 ) Balance, end of year $ 482,905 482,905 (1) See further discussion regarding the sale of the minority interest in Footnote 17. The goodwill balance at December 31, 2015 and 2014, relates to the Individual Annuity segment. See note 23 for further discussion regarding the operating segments. Goodwill is reviewed on an annual basis and impairment considerations are made depending on economic market conditions. There were no impairments to goodwill in 2015 or 2014.

Value of Business Acquired and

Value of Business Acquired and Other Intangible Assets	12 Months Ended
	Dec. 31, 2015
Value of Business Acquired and Other Intangible Assets	(9) Value of Business Acquired and Other Intangible Assets VOBA at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ — — — Interest 210 314 439 Amortization (2,950 ) (3,479 ) (4,327 ) Change in shadow VOBA 2,740 3,165 3,888 Balance, end of year $ — — — The net amortization of the VOBA in each of the next five years is expected to be as follows: 2016 $ 2,025 2017 1,120 2018 919 2019 392 2020 — Intangible assets at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 2,050 2,120 3,271 Amortization — (70 ) (1,151 ) Transfer to held-for-sale (2,050 ) — — Balance, end of year $ — 2,050 2,120 During 2015, the remaining intangible assets were transferred to held-for-sale assets, and recorded in Other assets on the Consolidated Balance Sheets. See note 2 for further details. During 2014, there were no events or changes in circumstances that warranted recoverability testing for intangible assets. In 2013, the Company determined it is not likely to recover any value from a subsidiary trade name. Intangible amortization of $1,050 was recognized to fully impair this asset. Accumulated amortization of VOBA and other intangible assets are $255,709 and $252,759 as of December 31, 2015 and 2014, respectively.

Deferred Acquisition Costs

Deferred Acquisition Costs	12 Months Ended
	Dec. 31, 2015
Deferred Acquisition Costs	(10) Deferred Acquisition Costs DAC at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 4,362,771 4,820,215 2,603,307 Capitalization 911,425 1,349,236 812,006 Interest 181,239 177,754 186,157 Amortization (1,331,923 ) (853,904 ) (1,204,862 ) Change in shadow DAC 2,159,724 (1,130,530 ) 2,423,607 Balance, end of year $ 6,283,236 4,362,771 4,820,215 The Company reviews its best estimate assumptions each year and records “unlocking” as appropriate. These reviews are based on recent changes in the organization and businesses of the Company and actual and expected performance of in-force in-force The pretax impact on the Company’s assets and liabilities as a result of the unlocking during 2015, 2014, and 2013 is as follows: 2015 2014 2013 Assets: DAC $ (109,797 ) (5,294 ) (82,082 ) DSI (32,400 ) (8,673 ) (20,860 ) VOBA (180 ) (120 ) 116 Reinsurance Recoverables and Receivables 5,471 117 57 Total decrease in assets (136,906 ) (13,970 ) (102,769 ) Liabilities: Account balances and future policy benefit reserves (154,064 ) (38,177 ) (224,023 ) Unearned premiums (48,369 ) (1,968 ) 2,445 Total decrease in liabilities (202,433 ) (40,145 ) (221,578 ) Net increase 65,527 26,175 118,809 Deferred income tax expense 22,934 9,161 41,583 Net increase $ 42,593 17,014 77,226

Deferred Sales Inducements

Deferred Sales Inducements	12 Months Ended
	Dec. 31, 2015
Deferred Sales Inducements	(11) Deferred Sales Inducements DSI at December 31 and the changes in the balance for years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 847,000 1,076,530 673,944 Capitalization 48,546 143,717 131,127 Amortization (284,883 ) (183,504 ) (242,605 ) Interest 33,927 35,528 38,936 Change in shadow DSI 465,602 (225,271 ) 475,128 Balance, end of year $ 1,110,192 847,000 1,076,530 The change in shadow DSI balances are impacted by movements in unrealized gains and losses as a result of market conditions.

Separate Accounts and Annuity P

Separate Accounts and Annuity Product Guarantees	12 Months Ended
	Dec. 31, 2015
Separate Accounts and Annuity Product Guarantees	(12) Separate Accounts and Annuity Product Guarantees Guaranteed minimums for the respective years ended December 31 are summarized as follows (note that the amounts listed are not mutually exclusive, as many products contain multiple guarantees): 2015 2014 Account value Net amount at risk Weighted Account value Net amount Weighted age GMDB: Return of premium $ 22,106,973 144,789 63.4 $ 22,885,613 38,798 62.9 Ratchet and return of premium 4,799,853 265,614 67.1 5,297,482 70,239 66.5 Ratchet and rollup 3,756,726 590,255 70.2 4,413,506 417,237 69.6 Ratchet and earnings protection rider 3,006 1,105 83.2 3,960 1,443 81.0 Reset 88,037 1,422 75.7 102,983 677 74.8 Earnings protection rider 244,262 21,146 68.1 282,696 27,661 67.3 Total $ 30,998,857 1,024,331 $ 32,986,240 556,055 GMIB: Return of premium $ 103,455 390 71.7 $ 123,495 809 71.0 Ratchet and return of premium 2,128,810 39,990 69.4 2,589,470 6,775 68.4 Ratchet and rollup 4,921,715 894,936 66.7 5,801,655 637,535 65.9 Total $ 7,153,980 935,316 $ 8,514,620 645,119 GMAB: Five years $ 3,125,235 75,278 68.8 $ 3,858,091 13,503 67.9 Ten years 3,144 1 81.2 4,231 16 80.0 Target date retirement-7 year 685,742 26,416 63.2 791,444 4,733 62.4 Target date retirement-10 271,947 17,557 59.8 295,251 1,457 58.9 Target date with management levers 3,361,471 189,196 61.3 3,583,692 28,717 60.5 Total $ 7,447,539 308,449 $ 8,532,709 48,426 GMWB: No living benefit $ 689,570 — 68.5 $ 620,033 — 68.8 Life benefit with optional reset 951,084 182,920 68.1 1,086,720 123,933 67.4 Life benefit with automatic reset 1,498,005 205,492 64.4 1,661,153 97,192 63.6 Life benefit with 8% rollup 30,070 6,520 69.1 34,001 3,691 68.3 Life benefit with 10% rollup 1,138,409 338,886 63.8 1,248,797 219,842 63.0 Life benefit with management levers 11,283,267 2,054,036 60.7 11,304,113 936,479 60.2 Total $ 15,590,405 2,787,854 $ 15,954,817 1,381,137 Although account values have declined, the net amount at risk has increased in 2015 due to the benefit base growth outpacing the account value growth. At December 31, variable annuity account balances were invested in separate account funds with the following investment objectives. Balances are presented at fair value: Investment type 2015 2014 Mutual funds: Bond $ 3,447,255 3,712,198 Domestic equity 14,225,576 15,438,301 International equity 1,473,393 1,807,570 Specialty 8,362,991 9,062,822 Total mutual funds 27,509,215 30,020,891 Money market funds 655,648 677,571 Other 78,260 90,909 Total $ 28,243,123 30,789,371 The following table summarizes the liabilities for variable contract guarantees that are reflected in the general account and shown in Account balances and future policy benefit reserves on the Consolidated Balance Sheets: GMDB GMIB GMAB GMWB Totals Balance as of December 31, 2013 $ 67,937 166,333 107,973 45,772 388,015 Incurred guaranteed benefits 28,860 (8,003 ) 166,427 1,445,508 1,632,792 Paid guaranteed benefits (10,375 ) (5,551 ) (9,543 ) — (25,469 ) Balance as of December 31, 2014 86,422 152,779 264,857 1,491,280 1,995,338 Incurred guaranteed benefits 24,238 34,835 122,095 679,259 860,427 Paid guaranteed benefits (13,633 ) (11,149 ) (12,095 ) — (36,877 ) Balance as of December 31, 2015 $ 97,027 176,465 374,857 2,170,539 2,818,888

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2015
Mortgage Notes Payable	(13) Mortgage Notes Payable In 2004, the Company obtained an $80,000 mortgage loan from an unrelated third party for the Company’s headquarters. In 2005, the Company agreed to enter into a separate loan agreement with the same counterparty in conjunction with the construction of an addition to the Company’s headquarters of $65,000. This loan was funded in 2006 and combined with the existing mortgage. As of December 31, 2015 and 2014, the combined loan had a balance of $84,761 and $92,184, respectively. This 20 year, fully amortizing loan has an interest rate of 5.52%, with a maturity date of August 1, 2024. The level principal and interest payments are made monthly. The loan allows for prepayment; however, it is accompanied by a make-whole Interest expense for all loans is $4,871, $5,271, and $5,649 in 2015, 2014, and 2013, respectively, and is presented in General and administrative expenses on the Consolidated Statements of Operations. The future principal payments required under the loan are as follows: 2016 $ 7,844 2017 8,288 2018 8,758 2019 9,254 2020 9,778 2021 and beyond 40,839 Total $ 84,761

Accident and Health Claim Reser

Accident and Health Claim Reserves	12 Months Ended
	Dec. 31, 2015
Accident and Health Claim Reserves	(14) Accident and Health Claim Reserves Accident and health claim reserves are based on estimates that are subject to uncertainty. Uncertainty regarding reserves of a given accident year is gradually reduced as new information emerges each succeeding year, thereby allowing more reliable reevaluations of such reserves. While management believes that reserves as of December 31, 2015, are appropriate, uncertainties in the reserving process could cause such reserves to develop favorably or unfavorably in the near term as new or additional information emerges. Any adjustments to reserves are reflected in the operating results of the periods in which they are made. Movements in reserves could significantly impact the Company’s future reported earnings. Activity in the accident and health claim reserves is summarized as follows: 2015 2014 2013 Balance at January 1, net of reinsurance recoverables of $283,252, $259,829, and $221,718, respectively $ 135,168 127,405 107,410 Adjustment primarily related to commutation and assumption reinsurance on blocks of business 323 (35 ) (70 ) Incurred related to: Current year 71,378 60,474 54,096 Prior years (4,275 ) (11,243 ) 5,359 Total incurred 67,103 49,231 59,455 Paid related to: Current year 4,331 3,677 3,519 Prior years 40,942 37,756 35,871 Total paid 45,273 41,433 39,390 Balance at December 31, net of reinsurance recoverables of $340,048, $283,252, and $259,829, respectively $ 157,321 135,168 127,405 Prior year incurreds for 2015 and 2014 reflect favorable claim development primarily within the individual long term care line of business. This favorable development is partially due to an update to claim continuance assumptions. Prior year incurreds for 2013 reflect unfavorable claim development within the individual long term care line of business, partially offset by favorable development within the group marketing line of business. The unfavorable development within long term care is partially due to an update to claim continuance assumptions.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2015
Reinsurance	(15) Reinsurance The Company primarily enters into reinsurance agreements to manage risk resulting from its life, annuity, and accident and health businesses, as well as businesses the Company has chosen to exit. In the normal course of business, the Company seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding risks under excess yearly renewal term (YRT) coverage. The Company may also enter into coinsurance agreements for the purpose of preserving capital. The Company generally retained between $1,000 and $5,000 coverage per individual life depending on the type of policy for the years ended December 31, 2015 and 2014. The Company monitors the financial exposure to the reinsurers, as well as evaluates the financial strength of the reinsurers on an ongoing basis. The Company attempts to mitigate risk by arranging trust accounts or letters of credit with certain reinsurers. Reinsurance recoverables and receivables at December 31, 2015 and 2014 are covered by collateral of $3,485,810 and $3,669,536, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes	(16) Income Taxes (a) Income Tax (Benefit) Expense Total income tax (benefit) expense for the years ended December 31 is as follows: 2015 2014 2013 Income tax expense (benefit) attributable to operations: Current tax expense $ 551,052 265,586 42,854 Deferred tax (benefit) expense (307,986 ) (240,863 ) 160,438 Total income tax expense (benefit) attributable to net income 243,066 24,723 203,292 Income tax effect on equity: Income tax (benefit) expense allocated to stockholder’s equity: Attributable to unrealized (losses) gains on investments (691,519 ) 418,073 (661,574 ) Attributable to unrealized (losses) gains on postretirement obligation — — (127 ) Attributable to unrealized (losses) gains on foreign exchange (2,159 ) (1,132 ) (889 ) Total income tax effect on equity $ (450,612 ) 441,664 (459,298 ) (b) Components of Income Tax Expense (Benefit) Income tax expense (benefit) computed at the statutory rate of 35% varies from Income tax expense (benefit) reported on the Consolidated Statements of Operations for the respective years ended December 31 as follows: 2015 2014 2013 Income tax expense (benefit) computed at the statutory rate $ 295,177 63,066 260,567 Dividends-received deductions and tax-exempt interest (40,687 ) (27,849 ) (32,037 ) State income tax 4,642 4,106 (2,049 ) Release AZLPF tax — — (5,829 ) (Release) Accrual of tax contingency reserve (10,701 ) 2,180 2,571 Foreign tax, net (3,143 ) (3,202 ) (12,209 ) Corporate-owned life insurance (2,285 ) (7,806 ) (12,933 ) Penalties 529 (6,174 ) 6,376 Other (466 ) 402 (1,165 ) Income tax expense (benefit) as reported $ 243,066 24,723 203,292 (c) Components of Deferred Tax Assets and Liabilities on the Consolidated Balance Sheets Tax effects of temporary differences giving rise to the significant components of the net deferred tax asset (liability). Net deferred tax asset (liability) on the Consolidated Balance Sheets at December 31 are as follows: 2015 2014 Deferred tax assets: Policy reserves $ 3,219,849 2,847,620 Expense accruals 47,412 144,197 Other-than-temporarily impaired assets 20,961 13,352 Provision for postretirement benefits 34,072 31,190 Other 6,898 2,102 Total deferred tax assets 3,329,192 3,038,461 Deferred tax liabilities: Deferred acquisition costs (1,948,643 ) (1,086,964 ) Investment income (230,228 ) (159,754 ) Depreciation and amortization (55,351 ) (51,311 ) Deferred intercompany gain — (3,187 ) Net unrealized gains on investments and foreign exchange (551,999 ) (2,196,751 ) Total deferred tax liabilities (2,786,221 ) (3,497,967 ) Net deferred tax asset (liability) $ 542,971 (459,506) Although realization is not assured, the Company believes it is not necessary to establish a valuation allowance for ordinary deferred tax assets, as it is more likely than not the deferred tax assets will be realized principally through future reversals of existing ordinary taxable temporary differences and future ordinary taxable income. For deferred tax assets that are capital in nature, considering all objective evidence and the available tax planning strategy, it is more likely than not the deferred tax assets that are capital in nature will be realized and no valuation allowance is required. The amount of the ordinary and capital deferred tax assets considered realizable could be reduced in the near term if estimates of future reversals of existing taxable temporary differences and future ordinary and capital taxable income are reduced. Income taxes paid by the Company were $329,563, $250,127, and $74,460 in 2015, 2014, and 2013, respectively. At December 31, 2015 and 2014, respectively, the Company had a tax payable to AZOA of $291,948 and $79,981, reported in Other liabilities on the Consolidated Balance Sheets. At December 31, 2015 and 2014, the Company had a tax payable separate from the agreement with AZOA in the amount of $119 and $134, respectively. These amounts are for foreign taxes. The Company is included in the consolidated group for which AZOA files a federal income tax return on behalf of all group members. As a member of the AZOA consolidated group, the Company is no longer subject to U.S. federal and non-U.S. income tax examinations for years prior to 2012, though examinations of combined returns filed by AZOA, which include the Company by certain U.S. state and local tax authorities, may still be conducted for 2008 and subsequent years. The last Internal Revenue Service examination of AZOA involved amended returns filed by AZOA for the 2008 and 2009 tax years. These amended returns were accepted by the Internal Revenue Service as filed. The Internal Revenue Service has not given notice that any subsequent tax periods are or will be under examination in the near future. In accordance with the Income Taxes Topic of the Codification, the Company recognizes liabilities for certain unrecognized tax benefits. Reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2015 2014 Balance at January 1 $ 59,103 70,174 Additions based on tax positions related to the current year 359 509 Amounts released related to tax positions taken in prior years (58,095 ) (11,580 ) Balance at December 31 $ 1,367 59,103 The balance at December 31, 2015, consists of tax positions for which the deductibility is more likely than not. The disallowance would affect the annual effective tax rate. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in federal income tax expense. During the years ended December 31, 2015, 2014, and 2013, the Company recognized (benefit)/expenses of ($10,701), $2,180, and $2,571, respectively, in interest and penalties. The Company had $1,431 and $12,132 for the payment of interest and penalties accrued at December 31, 2015 and 2014, respectively.

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 31, 2015
Related-Party Transactions	(17) Related-Party (a) Loans to Affiliates The Company held related-party In 2003, the Company entered into an agreement to lend Allianz SE $350,000. In 2004, the Company transferred, in the form of a dividend, a portion of the loan to AZOA with a carrying value of $90,000. In 2006, the Company transferred, in the form of a dividend, an additional portion of the loan to AZOA with a carrying amount of $130,000. The loan was paid off with year-to-date In 2015, the Company entered into an agreement to lend Allianz Managed Operations and Services of America (AMOSA) $33,000. The remaining loan balance was $33,000 as of December 31, 2015. Repayment of this loan will begin in 2016 and has a final maturity date of December 31, 2019. The interest rate is a fixed rate of 2.03%. Interest of $488 was earned during 2015 and is included in Interest and similar income, net on the Consolidated Statements of Operations. (b) Real Estate The Company had a real estate investment property leased to affiliates. The Company reported $1,462 in 2013, for rental income, which is included in Interest and similar income, net on the Consolidated Statements of Operations. This property was sold in 2013. The Company has agreements to sublease office space to related parties, wholly owned by the same parent company, AZOA. The Company earned rental income of $1,065, $1,281, and $1,502 in 2015, 2014, and 2013, respectively, which is included in Other revenue on the Consolidated Statements of Operations. Related to this agreement, the Company had a receivable balance of $76 and $34 at December 31, 2015 and 2014, respectively. In addition, the Company leases office space from Allianz Global Corporate and Specialty (AGCS) pursuant to a sublease agreement. In connection with this subleasing arrangement, the Company has incurred rent expense of $27, $32, and $29, in 2015, 2014, and 2013, respectively, which is included in General and administrative expenses on the Consolidated Statements of Operations. (c) Service Fees The Company incurred fees for services provided by affiliated companies of $63,530, $40,985, and $40,096 in 2015, 2014, and 2013, respectively. The Company’s liability for these expenses was $12,312, and $7,197 at December 31, 2015 and 2014, respectively, and is included in Other liabilities on the Consolidated Balance Sheets. On a quarterly basis, the Company pays the amount due through cash settlement. The Company earned revenues for various services provided to affiliated companies of $6,305, $4,711, and $6,325, in 2015, 2014, and 2013, respectively. The receivable for these revenues was $1,400 and $269 at December 31, 2015 and 2014, respectively, and is included in Receivables on the Consolidated Balance Sheets. On a quarterly basis, the Company receives payment through cash settlement. The Company has agreements with its affiliates Pacific Investment Management Company (PIMCO), Oppenheimer Capital LLC (OpCap), and with certain other related parties whereby (1) specific investment options managed by PIMCO and OpCap are made available through the Company’s separate accounts to holders of the Company’s variable annuity products, (2) the Company receives compensation for providing administrative and recordkeeping services relating to the investment options managed by PIMCO and OpCap. Income recognized by the Company from these affiliates for distribution and in-force (d) Dividends to parent The Company paid cash dividends to AZOA of $572,125, $250,000, and $650,000 in 2015, 2014, and 2013, respectively. (e) Wholly Owned Subsidiary Transaction In July 2015, The Annuity Store (TAS), a wholly owned subsidiary of the Company, purchased a 100% interest in a Field Marketing Organization (FMO), from Fireman’s Fund Insurance Company (FFIC), a subsidiary of AZOA for $2,617. TAS recorded the assets and liabilities of the entity at the historical cost recorded by FFIC. An excess of $2,125 was paid over the basis and charged to equity as a dividend paid to AZOA. The dividend paid as the result of the sale is included in the dividend paid to parent listed above. (f) Reinsurance On October 1, 2010, the Company created a subsidiary named Allianz Annuity Company of Missouri (AAMO), a captive reinsurance entity domiciled in Missouri with a $250 capital contribution. On December 22, 2010, an additional capital contribution was made for $288,234 to AAMO. Prior to December 1, 2015, the Company ceded to AAMO, and AAMO provided indemnity reinsurance on a combined funds withheld coinsurance and modified coinsurance basis, a 20% quota share of the Company’s net liability of variable annuity policies written directly by the Company starting with 2010 policies for a particular product. The impact of this reinsurance agreement is eliminated through consolidation. On December 1, 2015, the Company recaptured all risks ceded to AAMO under the Reinsurance Agreement and terminated the Reinsurance Agreement. Following the recapture and termination, AAMO maintained its license to act as a Missouri Special Purpose Life Reinsurance Captive Insurance Company (SPLRC) under Missouri SPLRC Law. Upon recapture, the liabilities were incorporated into the Company’s general account liabilities and the modified coinsurance and funds withheld trust agreements were terminated. As part of the recapture, bonds and interest rate swaps were sold by AAMO which generated realized gains of $3,806. After intercompany balances were settled, AAMO paid a dividend to the Company in the amount of $455,843. The Company received approval from the Department and the Missouri Department of Insurance, Financial Institutions & Professional Regulation (the Missouri Department) for all transactions noted above. On September 29, 2009, the Company created a subsidiary named AZMO, a captive reinsurance entity domiciled in Missouri with a $250 capital contribution. On December 31, 2009, the Company ceded to AZMO, on a coinsurance basis and modified coinsurance basis, a 100% quota share of the Company’s net liability of level term life insurance policies and certain universal life insurance policies written directly by the Company. A letter of credit was issued under an existing letter of credit facility in which Allianz SE is the applicant and the face amount of the letter of credit is in a qualifying trust established by AZMO. On December 31, 2009, an additional capital contribution was made for $282,000 to AZMO. The impact of this reinsurance agreement is eliminated through consolidation. The Company has reinsurance recoverables and receivables due to reinsurance agreements with other affiliated entities. Total affiliated reinsurance recoverables and receivables were $128 and $173 as of December 31, 2015 and 2014, respectively, and are included in Reinsurance recoverables and receivables on the Consolidated Balance Sheets. (g) Line of Credit Agreement In 2013, the Company entered into a line-of-credit year-end. (h) Minority Interest Transactions The Company held a minority equity interest in a certain FMO. A put option within the stockholders agreement was exercised, which required the Company to purchase all of the remaining stock in the FMO. In lieu of purchasing the remaining stock, the Company purchased a put option for $6,500 on December 3, 2014, and subsequently cancelled it. Simultaneously, the FMO purchased the minority interest for $500. The Company recorded a loss of $6,500 related to the purchase of the put option. As part of the sale of the minority equity interest, goodwill of $1,496 was eliminated.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2015
Employee Benefit Plans	(18) Employee Benefit Plans The Company participates in the Allianz Asset Accumulation Plan (AAAP), a defined contribution plan sponsored by Allianz of America Corporation (AZOAC). Eligible employees are immediately enrolled in the AAAP on their first day of employment. The AAAP will accept participants’ pretax, Roth 401(k), and/or after-tax The AAAP administration expenses and the trust fund, including trustee fees, investment manager fees, and audit fees, are payable from the trust fund but may, at the Company’s discretion, be paid by the Company. Any legal fees are not paid from the trust fund, but are instead paid by the Company. It is the Company’s policy to fund the AAAP costs as incurred. The Company has expensed $14,204, $13,242, and $11,657, in 2015, 2014, and 2013, respectively, toward the AAAP matching contributions and administration expenses. A defined group of highly compensated employees is eligible to participate in the AZOAC Deferred Compensation Plan. The purpose of the plan is to provide tax planning opportunities, as well as supplemental funds upon retirement. The plan is unfunded, meaning no assets of the Company have been segregated or defined to represent the liability for accrued assets under the plan. Employees are 100% vested upon enrollment in the plan for funds they have deferred. Employees’ funds are invested on a pay period basis and are immediately vested. Participants and the Company share the administrative fee. The accrued liability of $20,108 and $17,653 as of December 31, 2015 and 2014, respectively, is recorded in Other liabilities on the Consolidated Balance Sheets. The Company sponsors a nonqualified deferred compensation plan for a defined group of agents. The Company may decide to make discretionary contributions to the plan in the form and manner the Company determines. Discretionary contributions are currently determined based on production. The accrued liability of $45,171 and $29,615 as of December 31, 2015 and 2014, respectively, is recorded in Other liabilities on the Consolidated Balance Sheets. The Company participates in a stock-based The Company participates in the Employee Stock Purchase Plan sponsored by AZOAC that is designed to provide eligible employees with an opportunity to purchase American Depository Shares (ADSs) of Allianz SE at a discounted price. An aggregate amount of 250,000 Ordinary Shares is reserved for this plan. Allianz SE determines the purchase price of the share based on the closing price of an Ordinary Share of Allianz SE on the Frankfurt stock exchange on the date of each purchase. Employees are given the opportunity to purchase these shares quarterly on predetermined dates set by Allianz SE. Employees are not allowed to sell or transfer the shares for a one-year U.S. over-the-counter The Company participates in the AZOAC Severance Allowance Plan. Under the AZOAC Severance Allowance Plan, all employees who are involuntarily terminated due to job elimination or reduction in force are eligible to receive benefits. The Company expensed $1,079, $501, and $774 in 2015, 2014, and 2013, respectively, toward severance payments. The Company offers a life insurance benefit to eligible employees who retired on or before December 31, 1988, or who were hired before December 31, 1988, and who have at least 10 years of service when they reach age 55. The Company’s plan obligation at December 31, 2015 and 2014, was $1,057 and $1,113, respectively. This liability is included in Other liabilities on the Consolidated Balance Sheets. The Company’s plan assets, held in a Welfare Benefit Trust, at December 31, 2015 and 2014 were $160 and $614, respectively. The assets in this trust are used to prefund the Company’s self-insured

Statutory Financial Data and Di

Statutory Financial Data and Dividend Restrictions	12 Months Ended
	Dec. 31, 2015
Statutory Financial Data and Dividend Restrictions	(19) Statutory Financial Data and Dividend Restrictions Statutory accounting practices prescribed or permitted by the Company’s state of domicile are directed toward insurer solvency and protection of policyholders. Accordingly, certain items recorded in financial statements prepared under GAAP are excluded or vary in calculation in determining statutory policyholders’ surplus and gain from operations. Currently, these items include, among others, DAC, furniture and fixtures, deferred taxes, and accident and health premiums receivable, which are more than 90 days past due, reinsurance, certain investments, and undeclared dividends to policyholders. Additionally, account balances and future policy benefit reserves calculated for statutory reporting do not include provisions for withdrawals. The Company’s statutory capital and surplus reported in the statutory annual statement filed with the State of Minnesota as of December 31, 2015 and 2014, was $5,822,117 and $5,255,180, respectively. The Company’s net gain (loss) from operations reported in the statutory annual statement filed with the State of Minnesota as of December 31, 2015 and 2014, was $2,103,975 and $(192,343), respectively. The Company is required to meet minimum statutory capital and surplus requirements. The Company’s statutory capital and surplus as of December 31, 2015 and 2014, were in compliance with these requirements. The maximum amount of dividends that can be paid by Minnesota insurance companies to stockholders without prior approval of the Department is subject to restrictions relating to statutory earned surplus, also known as unassigned funds. Unassigned funds are determined in accordance with the accounting procedures and practices governing preparation of the statutory annual statement. In accordance with Minnesota Statutes, the Company may declare and pay from its surplus cash dividends of not more than the greater of 10% of its beginning-of-the-year 12-month Regulatory Risk-Based An insurance enterprise’s state of domicile imposes minimum risk-based risk-based risk-based

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	(20) Commitments and Contingencies The Company and its subsidiaries are named as defendants in various pending or threatened legal proceedings on an ongoing basis, including one putative class action proceeding, arising from the conduct of business. The class action lawsuit, Sanchez v. Allianz Life Ins. Co. of North America (Superior Court of California, L.A. County), was filed in 2015 and has not been certified. The Company generally intends to vigorously contest the lawsuits, but is or may pursue settlement negotiations in some cases, if appropriate. The outcome of the cases is uncertain at this time, and there can be no assurance that such litigation, or any future litigation, will not have a material adverse effect on the Company and/or its subsidiaries. The Company recognizes legal costs for defending itself as incurred. Certain class action lawsuits were resolved and or dismissed in 2015. With respect to one class action lawsuit, Negrete v. Allianz Life Insurance Company of North America, (CV 05-6838 CAS) (C.D. Cal), the administration of the settlement is ongoing. The Company has reserved an amount which is estimated to cover future costs of settlement. The Company is contingently liable for possible future assessments under regulatory requirements pertaining to insolvencies and impairments of unaffiliated insurance companies. Provision has been made for assessments currently received and assessments anticipated for known insolvencies. The financial services industry, including mutual funds, variable and fixed annuities, life insurance, distribution companies, and broker-dealers, Federal and state regulators, such as state insurance departments, state securities departments, the SEC, the Financial Industry Regulatory Authority (FINRA) and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning various selling practices, including suitability reviews, product exchanges, sales to seniors, and compliance with, among other things, insurance laws and securities laws. The Company is subject to ongoing market conduct examinations and investigations by regulators, which may have a material adverse effect on the Company. These matters could result in legal precedents and new industry-wide When evaluating litigation, claims, and assessments, management considers the nature of the litigation, progress of the case, opinions or views of legal counsel, as well as prior experience in similar cases. Management uses this information to assess whether a loss is probable and if the amount of loss can be reasonably estimated prior to making any accruals. The Company has private placement investments that may require a commitment of capital within the next year. The Company had capital commitments of $167,190 and $188,000 at December 31, 2015 and 2014, respectively. The Company has LIH limited partnership investments that require a commitment of Capital. The Company has open capital commitments of $93,180 and $17,957 at December 31, 2015 and 2014, respectively. The Company has recorded an unfunded commitment liability of $87,928 and $16,185, as of December 31, 2015 and 2014, respectively, within Other liabilities on the Consolidated Balance Sheets. The liability represents the discounted present value of the expected payments. The investments in the limited partnerships were $20,167 and $7,707 for the years ended December 31, 2015 and 2014, respectively. The Company has recognized tax credits related to the LIH partnership investments of $2,793, $1,235, and $1,220 for the years ended December 31, 2015, 2014, and 2013, respectively. The Company has commercial mortgage loan investments that require additional commitments of capital within the next year. The Company had capital commitments for new mortgage loans of $332,773 and $157,050 at December 31, 2015 and 2014, respectively. The Company leases office space and certain furniture and equipment pursuant to operating leases with some leases containing renewal options and escalation clauses. Expense for all operating leases was $3,155, $2,828, and $2,760 in 2015, 2014, and 2013, respectively. The future minimum lease payments required under operating leases are as follows: 2016 $ 2,130 2017 1,993 2018 1,742 2019 1,230 2020 838 2021 and beyond 283 $ 8,216 The Company had capital leases to finance furniture and equipment for the Company’s headquarters. The cost and accumulated depreciation of the financed assets were $2,976 and $2,976 at December 31, 2015 and $2,976 and $2,357 at December 31, 2014, respectively, and are included in Other assets on the Consolidated Balance Sheets. Depreciation on the financed assets was $619, $744, and $745 in 2015, 2014, and 2013, respectively. There are no expected future lease payments in 2016 and beyond. The Company has a service agreement (the agreement) with certain unrelated broker-dealers 90-day broker-dealer

Capital Structure

Capital Structure	12 Months Ended
	Dec. 31, 2015
Capital Structure	(21) Capital Structure The Company is authorized to issue three types of capital stock, as outlined in the table below: Authorized, Voluntary or issued, and Par value, involuntary outstanding per share Redemption rights liquidation rights Common stock 40,000,000 $ 1.00 None None 20,000,001 20,000,001 Preferred stock: Class A 200,000,000 $ 1.00 Designated by Board Designated by Board 18,903,484 for each series issued for each series issued 18,903,484 Class A, Series A 8,909,195 1.00 $35.02 per share plus $35.02 per share plus 8,909,195 an amount to yield a an amount to yield a 8,909,195 compounded annual compounded annual return of 6%, after return of 6%, after actual dividends paid actual dividends paid Class A, Series B 10,000,000 1.00 $35.02 per share plus $35.02 per share plus 9,994,289 an amount to yield a an amount to yield a 9,994,289 compounded annual compounded annual return of 6%, after return of 6%, after actual dividends paid actual dividends paid Class B 400,000,000 1.00 Designated by Board Designated by Board for each series issued for each series issued Holders of Class A preferred stock and of common stock are entitled to one vote per share with respect to all matters presented to or subject to the vote of shareholders. Holders of Class B preferred stock have no voting rights. All issued and outstanding shares are owned by AZOA. See note 1 for further discussion. Each share of Class A preferred stock is convertible into one share of the Company’s common stock. The Company may redeem any or all of the Class A preferred stock at any time. Dividends will be paid to each class of stock only when declared by the BOD. In the event a dividend is declared, dividends must be paid to holders of Class A preferred stock, Class B preferred stock, and common stock, each in that order. As discussed in notes 2 and 17, the Company carried out various capital transactions with related parties during 2015, 2014, and 2013.

Foreign Currency Translation

Foreign Currency Translation	12 Months Ended
	Dec. 31, 2015
Foreign Currency Translation	(22) Foreign Currency Translation An analysis of foreign currency translation, net of tax for the respective years ended December 31 is as follows: 2015 2014 2013 Beginning amount of cumulative translation adjustments $ 10,240 12,343 13,993 Aggregate adjustment for the period resulting from translation adjustments (6,168 ) (3,235 ) (2,539 ) Amount of income tax expense for the period related to aggregate adjustment 2,159 1,132 889 Net aggregate translation included in equity (4,009 ) (2,103 ) (1,650 ) Ending amount of cumulative translation adjustments $ 6,231 10,240 12,343 Canadian foreign exchange rate at end of year 0.71989 0.86337 0.94120

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information	(23) Segment Information The Company has organized its principal operations into the following segments: Individual Annuities, Life, Questar, and Legacy products. The Individual Annuities segment consists of fixed, fixed-indexed, The Life segment issues fixed-indexed in-force The Questar segment consists of two wholly owned subsidiaries, Questar Capital Corporation (Questar Capital) and Questar Asset Management, Inc. (QAM). Questar Capital is registered as a broker-dealer broker-dealer. The Legacy business consists of closed blocks of LTC and Special Markets products. The Special Markets products include individual and group annuity and life products, including universal life and term life insurance. Although Legacy products are part of the consolidated results, the Company does not allocate additional resources to these areas other than to maintain the operational support to its current customers. The Company does not maintain segregated investment portfolios for each segment. All interest and similar income, net and realized investment gains, net are allocated to the segments. Assets are only monitored at the individual company level, and as such, asset disclosures by segment are not included herein. Income and expense related to assets backing policyholder reserves are allocated to the segments based on policyholder reserve levels. The results of the Individual Annuity, Life, and Legacy segments also reflect allocation of income and expense related to assets backing surplus. Income and expense related to assets backing surplus are allocated to the segments based on required capital levels for each segment and are excluded from EGP used in reserve and DAC model projections. Unconsolidated segment results are reconciled to the Consolidated Statements of Operations amounts in the tables below: Year ended December 31, 2015 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,133,285 172,660 — 143,646 — 1,449,591 Interest and similar income, net 4,004,121 103,419 3 72,560 — 4,180,103 Change in fair value of assets and liabilities (492,479 ) (38,553 ) — (1,688 ) — (532,720 ) Realized investment gains, net 90,948 1,597 — 1,868 — 94,413 Fee, commission, and other revenue 236,454 186 105,830 253 (39,324 ) 303,399 Total revenue (loss) 4,972,329 239,309 105,833 216,639 (39,324 ) 5,494,786 Benefits and expenses: Net benefits and expenses 2,296,057 114,377 — 192,660 — 2,603,094 General and administrative and commission 1,554,120 165,479 110,624 18,172 (39,324 ) 1,809,071 Change in deferred acquisition costs, net 279,582 (53,642 ) — 13,319 — 239,259 Total benefits and expenses 4,129,759 226,214 110,624 224,151 (39,324 ) 4,651,424 Pretax income (loss) $ 842,570 13,095 (4,791) (7,512 ) — 843,362 Year ended December 31, 2014 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,148,803 117,950 — 141,344 — 1,408,097 Interest and similar income, net 3,799,849 90,088 (17 ) 67,378 — 3,957,298 Change in fair value of assets and liabilities 1,805,611 41,292 — (4,914 ) — 1,841,989 Realized investment gains, net 74,926 1,579 1 1,256 — 77,762 Fee, commission, and other revenue 246,021 474 102,234 6,217 (43,126 ) 311,820 Total revenue (loss) 7,075,210 251,383 102,218 211,281 (43,126 ) 7,596,966 Benefits and expenses: Net benefits and expenses 5,582,740 147,348 — 145,737 — 5,875,825 General and administrative and commission 1,964,597 162,973 111,967 17,628 (43,126 ) 2,214,039 Change in deferred acquisition costs, net (615,902 ) (72,109 ) — 14,925 — (673,086 ) Total benefits and expenses 6,931,435 238,212 111,967 178,290 (43,126 ) 7,416,778 Pretax income (loss) $ 143,775 13,171 (9,749 ) 32,991 — 180,188 Year ended December 31, 2013 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,050,072 104,715 — 133,586 — 1,288,373 Interest and similar income, net 3,464,951 71,125 (16 ) 56,057 — 3,592,117 Change in fair value of assets and liabilities 843,121 77,920 — 224 — 921,265 Realized investment gains, net 172,940 2,227 8 13,122 — 188,297 Fee, commission, and other revenue 239,692 583 93,485 6,207 (33,188 ) 306,779 Total revenue (loss) 5,770,776 256,570 93,477 209,196 (33,188) 6,296,831 Benefits and expenses: Net benefits and expenses 3,378,366 180,923 — 144,730 — 3,704,019 General and administrative and commission 1,408,107 136,417 110,633 19,666 (33,188 ) 1,641,635 Change in deferred acquisition costs, net 264,068 (71,632 ) — 14,263 — 206,699 Total benefits and expenses 5,050,541 245,708 110,633 178,659 (33,188 ) 5,552,353 Pretax income (loss) $ 720,235 10,862 (17,156) 30,537 — 744,478

Changes in and Reclassification

Changes in and Reclassifications from Accumulated Other Comprehensive Income (AOCI)	12 Months Ended
	Dec. 31, 2015
Changes in and Reclassifications from Accumulated Other Comprehensive Income (AOCI)	(24) Changes in and Reclassifications from Accumulated Other Comprehensive Income (AOCI) Changes in AOCI, net of tax, by component consist of the following: Year ended December 31, 2015 Net unrealized OTTI Net gain Foreign Pension and Total AOCI Beginning balance $ 1,755,998 9,608 1,475 10,240 (176 ) 1,777,145 OCI before reclassifications (1,260,909 ) (2,958 ) 8,933 (4,009 ) 95 (1,258,848 ) Amounts reclassified from AOCI (27,766 ) (1,597 ) — — 16 (29,347 ) Net OCI (1,288,675 ) (4,555 ) 8,933 (4,009 ) 111 (1,288,195 ) Ending balance $ 467,323 5,053 10,408 6,231 (65 ) 488,950 Year ended December 31, 2014 Net unrealized OTTI Net gain Foreign Pension and Total AOCI Beginning balance $ 980,777 8,814 1,020 12,343 (170 ) 1,002,784 OCI before reclassifications 825,079 3,114 455 (2,103 ) (25 ) 826,520 Amounts reclassified from AOCI (49,858 ) (2,320 ) — — 19 (52,159 ) Net OCI 775,221 794 455 (2,103 ) (6 ) 774,361 Ending balance $ 1,755,998 9,608 1,475 10,240 (176 ) 1,777,145 Reclassifications from AOCI, net of tax, consist of the following: Amount Reclassified from AOCI Affected line item December 31, in the Consolidated AOCI 2015 2014 Statements of Operations Net unrealized gain on securities: Available-for-sale securities $ 42,717 76,705 Realized investment gains, net 14,951 26,847 Income tax expense (benefit) 27,766 49,858 Net income OTTI gain (losses) in OCI: Other than temporary impairments 2,457 3,569 Realized investment gains, net 860 1,249 Income tax expense (benefit) 1,597 2,320 Net income Pension and other postretirement plan adjustments: Amortization of actuarial gains (losses) (25 ) (29 ) General and administrative expenses 9 (10 ) Income tax expense (benefit) (16 ) (19 ) Net income Total amounts reclassified from AOCI $ 29,347 52,159 Total net income

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events	(25) Subsequent Events No material subsequent events have occurred since December 31, 2015 through March 31, 2016 that require adjustment to the financial statements. On February 1, 2016, Allegiance Marketing Group, LLC (AMG), a wholly-owned subsidiary of Allianz Individual Insurance Group LLC (AIIG), which is a wholly owned subsidiary of the Company, merged with and into GamePlan Financial Marketing (GamePlan), another wholly-owned subsidiary of AIIG. GamePlan was the surviving entity. On February 2, 2016, GamePlan purchased a 100% interest in an independent FMO for an initial purchase price of $7,500. GamePlan recorded the assets and liabilities of the entity at fair value. On February 23, 2016, the Company’s Board of Directors approved payment of a $600,000 cash dividend to its parent company, AZOA. The Company’s Board of Directors also approved the dividend of the loan agreement with AMOSA in the amount of $33,000 and accrued interest, which is expected to be approximately $150. Based on the ordinary dividend limitations set forth under Minnesota Insurance Law, the dividend is considered ordinary. The dividend was paid and the loan assignment was completed on March 30, 2016.

Summary of Investments - Other

Summary of Investments - Other than Investments in Related Parties	12 Months Ended
	Dec. 31, 2015
Summary of Investments - Other than Investments in Related Parties	Type of investment Cost (1) Fair value Amount at Fixed-maturity securities: Fixed-maturity securities, available-for-sale: U.S. government $ 1,682,642 1,755,324 1,755,324 Agencies not backed by the full faith and credit of the U.S. government 10,474 10,514 10,514 States and political subdivisions 8,533,503 8,998,534 8,998,534 Foreign government 269,608 272,167 272,167 Public utilities 5,798,475 6,222,198 6,222,198 Corporate securities 50,603,848 50,946,485 50,946,485 Mortgage-backed securities 12,263,037 12,497,799 12,497,799 Collateralized mortgage obligations 9,208 10,283 10,283 Collateralized debt obligations 9,738 21,164 21,164 Total fixed-maturity securities, available-for-sale 79,180,533 80,734,468 80,734,468 Fixed-maturity securities, at fair value through income: U.S. government 36,474 37,111 37,111 Total fixed-maturity securities, trading 36,474 37,111 37,111 Fixed-maturity securities, held-to-maturity: Corporate securities 55 65 55 Collateralized debt obligations — 5,214 — Total fixed-maturity securities, held-to-maturity 55 5,279 55 Total fixed-maturity securities 79,217,062 80,776,858 80,771,634 Equity securities: Equity securities, available-for-sale: Common stocks: Industrial and miscellaneous 71,005 68,611 68,611 Equity securities, trading: Common stocks: Industrial and miscellaneous 299,017 292,816 292,816 Total equity securities 370,022 $ 361,427 361,427 Other investments: Mortgage loans on real estate, net 8,788,018 9,042,293 8,788,018 Short-term securities 4,454 4,454 4,454 Derivatives 591,609 591,609 591,609 Loans to affiliates 33,005 32,733 33,005 Policy loans 163,129 163,129 163,129 Acquired loans 224,083 271,927 224,083 Other invested assets 92,977 92,977 92,977 Total other investments 9,897,275 10,199,122 9,897,275 Total investments $ 89,484,359 91,337,407 $ 91,030,336 (1) Original cost of equity securities and, as to fixed-maturities, original cost reduced by repayments and adjusted for amortization of premiums, accrual discounts, or impairments.

Supplementary Insurance Informa

Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2015
Supplementary Insurance Information	Schedule II ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA AND SUBSIDIARIES Supplementary Insurance Information As of and for the years ended December 31, 2015, 2014, and 2013 (In thousands) December 31 Year ended December 31 Deferred Deferred Account and Unearned Policy and Net Interest and Net benefits Net change Net Other 2015: Annuities $ 5,766,176 1,108,877 90,734,164 25,620 — 1,133,285 4,004,121 2,095,788 200,269 279,582 1,514,797 Life 486,195 1,315 2,678,431 70,621 3,335 172,660 103,419 112,236 2,141 (53,642 ) 165,478 Questar — — — — — — 3 — — — 110,624 Legacy 30,865 — 3,901,902 57,875 514,590 143,646 72,560 192,660 — 13,319 18,172 $ 6,283,236 1,110,192 97,314,497 154,116 517,925 1,449,591 4,180,103 2,400,684 202,410 239,259 1,809,071 2014: Annuities $ 3,934,701 843,545 85,548,020 1,164 — 1,148,803 3,799,849 5,578,815 3,925 (615,902 ) 1,930,071 Life 384,073 3,455 2,255,751 74,207 4,187 117,950 90,088 147,014 334 (72,109 ) 154,983 Questar — — — — — — (17 ) — — — 111,967 Legacy 43,997 — 3,554,990 55,330 439,257 141,344 67,378 145,737 — 14,925 17,018 $ 4,362,771 847,000 91,358,761 130,701 443,444 1,408,097 3,957,298 5,871,566 4,259 (673,086) 2,214,039 2013: Annuities $ 4,415,572 1,072,742 72,954,916 24,392 — 1,050,072 3,464,952 3,304,991 73,375 264,068 1,382,537 Life 345,008 3,788 1,843,616 57,647 3,220 104,715 71,125 181,756 (833 ) (71,632 ) 128,799 Questar — — — — — — (16 ) — — — 110,633 Legacy 59,635 — 3,326,680 53,600 412,889 133,586 56,056 144,730 — 14,263 19,666 $ 4,820,215 1,076,530 78,125,212 135,639 416,109 1,288,373 3,592,117 3,631,477 72,542 206,699 1,641,635 * See note 11 for aggregate gross amortization of deferred sales inducements. ** See note 10 for aggregate gross amortization of deferred acquisition costs. See accompanying report of independent registered public accounting firm.

Reinsurance35

Reinsurance	12 Months Ended
	Dec. 31, 2015
Reinsurance	Schedule III ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA AND SUBSIDIARIES Reinsurance Years ended December 31, 2015, 2014, and 2013 (In thousands) Direct Ceded to other Assumed Net Percentage Years ended amount companies companies amount to net December 31, 2015: Life insurance in force $ 30,774,840 21,809,292 60,469 9,026,017 0.7 % Premiums and policy fees: Life $ 219,959 45,746 683 174,896 0.4 % Annuities 1,130,514 (1,447 ) (442 ) 1,131,519 — Accident and health 188,885 80,987 35,278 143,176 24.6 Total premiums and policy fees $ 1,539,358 125,286 35,519 1,449,591 2.5 % December 31, 2014: Life insurance in force $ 28,518,136 19,851,269 67,484 8,734,351 0.8 % Premiums and policy fees: Life $ 162,098 41,659 779 121,218 0.6 % Annuities 1,145,637 (1,445 ) (153 ) 1,146,929 — Accident and health 189,981 80,007 29,976 139,950 21.4 Total premiums and policy fees $ 1,497,716 120,221 30,602 1,408,097 2.2 % December 31, 2013: Life insurance in force $ 26,107,972 17,815,125 80,931 8,373,778 1.0 % Premiums and policy fees: Life $ 149,803 42,857 606 107,552 0.6 % Annuities 1,046,313 (1,966 ) (468 ) 1,047,811 — Accident and health 184,288 78,876 27,598 133,010 20.7 Total premiums and policy fees $ 1,380,404 119,767 27,736 1,288,373 2.2 % The Life and Annuities categories above are prescribed splits based on product and will differ from the results of the Life and Individual Annuity segments. See accompanying report of independent registered public accounting firm.

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation	(a) Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP), which vary in certain respects from accounting practices prescribed or permitted by state insurance regulatory authorities. The accounts of the Company’s primary subsidiary, Allianz Life Insurance Company of New York, and all other subsidiaries have been consolidated. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	(b) Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect reported amounts of assets and liabilities, including reporting or disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Future events, including changes in mortality, morbidity, interest rates, capital markets, and asset valuations could cause actual results to differ from the estimates used in the Consolidated Financial Statements. Such changes in estimates are recorded in the period they are determined.
Investment Products and Universal Life Business	(c) Investment Products and Universal Life Business Investment products consist primarily of fixed, variable, and deferred annuity products. Premium receipts are reported as deposits to the contractholders’ accounts. Policy fees on the Consolidated Statements of Operations represent asset fees, cost of insurance charges, administrative fees, charges for guarantees on investment products, and surrender charges for investment products and universal life insurance. These fees have been earned and assessed against contractholders on a daily or monthly basis throughout the contract period and are recognized as revenue when assessed and earned. Amounts assessed that represent compensation to the Company for services to be provided in future periods are not earned in the period assessed. Such amounts are reported as unearned premiums, which include unearned revenue reserves (URR), and are recognized in operations over the period benefited using the same assumptions and factors used to amortize capitalized acquisition costs. Surrender charges are recognized upon surrender of a contract in accordance with contractual terms. Derivatives embedded in fixed-indexed, The Company offers a variable annuity product that combines a separate account option with a general account option that is similar to a fixed-indexed Available-for-sale
Life and Accident and Health Insurance	(d) Life and Accident and Health Insurance Premiums on traditional life products are recognized as earned when due. Benefits and expenses are associated with earned premiums so as to result in recognition of profits over the life of the contracts. This association is accomplished by establishing provisions for future policy benefits and deferral and amortization of related acquisition costs. Accident and health premiums are recognized as earned on a pro rata basis over the risk coverage periods. Benefits and expenses are recognized as incurred.
Goodwill	(e) Goodwill Goodwill is the excess of the amount paid to acquire a company over the fair value of its tangible net assets, value of business acquired (VOBA), other identifiable intangible assets, and valuation adjustments (such as impairments), if any. Goodwill is reported in Other assets on the Consolidated Balance Sheets. Goodwill is evaluated annually for impairment at the reporting unit level, which is one level below an operating segment. Goodwill of a reporting unit is also tested for impairment on an interim basis if a triggering event occurs, such as a significant adverse change in the business climate or a decision to sell or dispose of a business unit.
Value of Business Acquired and Other Intangible Assets	(f) Value of Business Acquired and Other Intangible Assets The value of insurance in-force Adjustments to VOBA are made to reflect the estimated corresponding impact on the present value of expected future gross profits from unrealized gains and losses on available-for-sale The recoverability of VOBA is evaluated annually, or earlier if factors warrant, based on estimates of future earnings related to the insurance in-force Intangible assets are identified by the Company in accordance with the Intangibles – Goodwill and Other Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (Codification), which requires an identifiable intangible asset to be recognized apart from goodwill when it arises from contractual or legal rights or it is capable of being separated and valued when sold, transferred, licensed, rented, or exchanged. The Company determines the useful life and amortization period for each intangible asset identified at acquisition, and continually monitors these assumptions. An intangible asset with a determinable life is amortized over that period, while an intangible asset with an indefinite useful life is not amortized. The Company’s intangible assets include trademarks, agent lists, and noncompete agreements that were acquired as a result of the Company’s ownership in field marketing organizations, and are reported in Other assets on the Consolidated Balance Sheets. These intangible assets were assigned values using the present value of projected future cash flows and are generally amortized over five years using the straight-line broker-dealer Recoverability of the value of the amortizing intangible assets is assessed whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Recoverability of the value of the nonamortizing intangible assets is assessed annually or earlier if events or changes in circumstances indicate the carrying amount may not be recoverable.
Deferred Acquisition Costs	(g) Deferred Acquisition Costs Acquisition costs consist of commissions and other incremental costs that are directly related to the successful acquisition of insurance contracts. Acquisition costs are deferred to the extent recoverable from future policy revenues and gross profits. However, acquisition costs associated with insurance contracts recorded under the fair value option are not deferred as guidance related to the fair value option requires that transaction costs are recorded immediately as an expense. For interest-sensitive two-step in-force Adjustments to DAC are made to reflect the corresponding impact on the present value of expected future gross profits and revenues from unrealized gains and losses on available-for-sale Changes in assumptions can have an impact on the amount of DAC reported for annuity and life insurance products and their related amortization patterns. In the event experience differs from assumptions or assumptions are revised, the Company is required to record an increase or decrease in DAC amortization expense, which is referred to as DAC unlocking. In general, increases in the estimated investment spreads and fees result in increased expected future profitability and may decrease the rate of DAC amortization, while increases in costs of product guarantees, and lapse/surrender and mortality assumptions reduce the expected future profitability of the underlying business and may increase the rate of DAC amortization. The Company formally evaluates the appropriateness of the best-estimate Adjustments may also be made to the EGPs or estimated gross revenues related to DAC that correspond to deferred annuities and universal life products for investment activity, such as write-downs other-than-temporarily fixed-maturity in-force fixed-maturity noninvestment-grade The Company assesses internal replacements on insurance contracts to determine whether such modifications significantly change the contract terms. An internal replacement represents a modification in product benefits, features, rights, or coverages that occurs by the exchange of an in-force
Deferred Sales Inducements	(h) Deferred Sales Inducements Sales inducements are product features that enhance the investment yield to the contractholder on the contract. The Company offers two types of sales inducements on certain universal life and annuity contracts. The first type, an immediate bonus, increases the account value at inception, and the second type, a persistency bonus, increases the account value at the end of a specified period. Annuity sales inducements are deferred when credited to contractholders and life sales inducements are deferred and recognized as part of the liability for policy benefits. Deferred sales inducements (DSI) are reported in Other assets in the Consolidated Balance Sheets. They are amortized over the expected life of the contract in a manner similar to DAC and are reviewed annually for recoverability. DSI capitalization and amortization are recorded in Policyholder benefits on the Consolidated Statements of Operations. Adjustments to DSI are made to reflect the estimated corresponding impact on the present value of expected future gross profits and revenues from unrealized gains and losses on available-for-sale Adjustments may also be made to DSI related to deferred annuities for investment activity, such as write-downs other-than-temporarily fixed-maturity fixed-maturity
Account Balances and Future Policy Benefit Reserves	(i) Account Balances and Future Policy Benefit Reserves Policy and contract account balances for interest-sensitive fixed-indexed Certain two-tier period-certain life-contingent Policy and contract account balances for variable annuity products are carried at accumulated contract values. Future policy benefit reserves for any death and income benefits that may exceed the accumulated contract values are established using a range of economic scenarios and are accrued for using assumptions consistent with those used in estimating gross profits or gross revenues for purposes of amortizing DAC. Future policy benefit reserves for accumulation and withdrawal benefits that may exceed account values are established using capital market assumptions, such as index and volatility, along with estimates of future policyholder behavior. Future policy benefit reserves on traditional life products are computed by the net level premium method based upon estimated future investment yield, mortality and withdrawal assumptions, commensurate with the Company’s experience, modified as necessary to reflect anticipated trends, including possible unfavorable deviations. Most life reserve interest assumptions range from 2.3% to 6.0%. Future policy benefit reserves on LTC products are computed using a net level reserve method. Reserves are determined as the excess of the present value of future benefits over the present value of future net premiums and are based on best estimate assumptions at the time of issue for morbidity, mortality, lapse, and interest with provisions for adverse deviation. Most LTC reserve interest assumptions range from 5.0% to 6.0%. An additional reserve has been established to provide for future expected losses that are anticipated to occur after a period of profits. The reserve accrual will be over the profit period and is based on best estimate assumptions as of the current accrual period without provisions for adverse deviation.
Policy and Contract Claims	(j) Policy and Contract Claims Policy and contract claims include the liability for claims reported but not yet paid, claims incurred but not yet reported (IBNR), and claim settlement expenses on the Company’s accident and health business. Actuarial reserve development methods are generally used in the determination of IBNR liabilities. In cases of limited experience or lack of credible claims data, loss ratios are used to determine an appropriate IBNR liability. Claim and IBNR liabilities of a short-term
Reinsurance	(k) Reinsurance The Company assumes and cedes business with other insurers. Reinsurance premium and benefits paid or provided are accounted for in a manner consistent with the basis used in accounting for original policies issued and the terms of the reinsurance contracts and are included in Premiums and policy fees, ceded, and Benefit recoveries, respectively, on the Consolidated Statements of Operations. Insurance liabilities are reported before the effects of reinsurance. Account balances and future policy benefit reserves, and policy and contract claims covered under reinsurance contracts are recorded in Reinsurance recoverables and receivables on the Consolidated Balance Sheets. Amounts paid or deemed to have been paid for claims covered by reinsurance contracts are recorded as Receivables on the Consolidated Balance Sheets. Reinsurance recoverables are recognized in a manner consistent with the liabilities related to the underlying reinsured contracts. Amounts due to other insurers on assumed business are recorded as a reinsurance payable, and are included in Other liabilities on the Consolidated Balance Sheets. A gain recognized when the Company enters into a coinsurance agreement with a third-party revenue-producing run-off
Investments	(l) Investments Fixed-Maturity The Company has portfolios of certain fixed-maturity “available-for-sale.” The Company has portfolios of certain fixed-maturity fixed-maturity “held-to-maturity,” fixed-maturity Mortgage-backed loan-backed The fair value of fixed-maturity third-party third-party The Company reviews the available-for-sale held-to-maturity risk-free fixed-income other-than-temporarily fixed-maturity other-than-temporarily available-for-sale held-to-maturity available-for-sale The Company evaluates whether a credit loss exists by considering primarily the following factors: (a) the length of time and extent to which the fair value has been less than the amortized cost of the security, (b) changes in the financial condition, credit rating, and near-term probability-weighted third-party probability-weighted probability-weighted The Company provides a supplemental disclosure on its Consolidated Statements of Operations that presents the total OTTI losses recognized during the period less the portion of OTTI losses recognized in other comprehensive income to equal the credit-related The Company views equity securities that have a fair value of at least 20% below average cost at the end of a quarter or are in an unrealized loss position for nine consecutive months as other-than-temporarily other-than-temporarily Impairments in the value of securities held by the Company, considered to be other than temporary, are recorded as a reduction of the cost of the security, and a corresponding realized loss is recognized on the Consolidated Statements of Operations. The Company adjusts DAC, DSI, and VOBA for impairments on securities, as discussed in their respective sections of this note. Mortgage Loans on Real Estate Mortgage loans on real estate are reflected at unpaid principal balances adjusted for an allowance for uncollectible balances. Interest on mortgage loans is accrued on a monthly basis and recorded in Interest and similar income, net on the Consolidated Statements of Operations. The Company analyzes loan impairment quarterly when assessing the adequacy of the allowance for uncollectible balances. The Company considers recent trends in the Company’s loan portfolio and information on current loans, such as loan-to-value Other Investments Other investments include short-term Short-term straight-line The Company is a member of the Federal Home Loan Bank of Des Moines (FHLB), primarily for the purpose of participating in the Bank’s mortgage collateralized loan advance program with short-term long-term Acquired Loans The Company acquired a portfolio of assets that have deteriorated credit quality and are recorded as Acquired loans on the Consolidated Balance Sheets. Acquired loans are initially recorded at fair value, and changes in expected cash flows are recorded as adjustments to accretable yield, to the carrying amount, or both. Fair values are obtained using a combination of third-party Repurchase Agreements The Company has entered into a tri-party
Derivatives	(m) Derivatives The Company utilizes derivatives within certain actively managed investment portfolios. Within these portfolios, derivatives can be used for hedging, replication, and income generation only. The financial instruments are valued and carried at fair value and the unrealized gains and losses on the derivatives are reflected in Change in fair value of assets and liabilities within the Consolidated Statements of Operations. Hedge Accounting To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated changes in cash flow of the hedged item. At hedge inception, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking each hedge transaction. The documentation process includes linking derivatives that are designated as cash flow hedges to specific assets or liabilities on the Consolidated Balance Sheets and defining the effectiveness and ineffectiveness testing methods to be used. The Company also formally assesses, at inception and on a quarterly basis, whether the derivatives used in hedging transactions have been and are expected to continue to be highly effective in offsetting changes in cash flows of hedged items. Hedge effectiveness is assessed using qualitative and quantitative methods. Qualitative methods may include comparison of critical terms of the derivative to the hedged item. Quantitative methods include analysis of changes in fair value or cash flows associated with the hedge relationship. Hedge effectiveness is measured using the dollar offset method. The dollar offset method compares changes in cash flows of the hedging instrument with changes in the cash flows of the hedged item attributable to the hedged risk. Random changes in interest rate movements are assumed. Related changes in the cash flows of the hedging instrument are expected to offset the changes in the cash flows of the hedged item as the notional/par amounts, reset dates, interest rate indices, and business day conventions are the same for both the bond and the swap. The cumulative amount of unrealized gains and losses of the hedging instrument is recognized in Accumulated other comprehensive income, net of tax on the Consolidated Balance Sheets. The ineffective portion of the change in the fair value of the hedging instrument is recognized in Change in fair value of assets and liabilities in the Consolidated Statements of Operations. Interest Rate Swaps and Foreign Currency Swaps The Company utilizes foreign currency swaps to hedge cash flows and applies hedge accounting treatment. The Company also uses foreign currency swaps to hedge foreign currency and interest fluctuations on certain underlying foreign fixed-maturity securities. Until January 2015, the Company also utilized interest rate swaps (IRS) to hedge cash flows and applied hedge accounting treatment. The IRS and foreign currency swaps are reported at fair value as Derivatives on the Consolidated Balance Sheets. The fair value of the interest rate and foreign currency swaps are derived using a third-party The Company has a minor mismatch between the purchase of the derivative and settlement of the bond for foreign currency swaps. Any changes in value of the derivative between the purchase and settlement date are recorded in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. After the bond is settled, the Company completes documentation and designates hedge accounting. Nonqualifying hedging Options and Futures Contracts The Company provides additional benefits through certain life and annuity products, which are linked to the fluctuation of various United States and international stock and bond market indices. In addition, certain variable annuity contracts provide minimum guaranteed benefits. The Company has analyzed the characteristics of these benefits and has entered into over-the-counter exchange-traded exchange-traded exchange-traded in-force The OTC option contracts and ETO contracts are reported at fair value in Derivatives on the Consolidated Balance Sheets. The fair value of the OTCs is derived internally and deemed by management to be reasonable via performing an IPV process. The process of deriving internal derivative prices requires the Company to calibrate Monte Carlo scenarios to actual market information. The calibrated scenarios are applied to derivative cash flow models to calculate fair value prices for the derivatives. The fair value of the ETOs is based on quoted market prices. Changes in unrealized gains and losses on the option contracts and incremental gains and losses from expiring options are recorded in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. The liability for the benefits is reported in Account balances and future policy benefit reserves on the Consolidated Balance Sheets. Futures contracts do not require an initial cash outlay, and the Company has agreed to daily net settlement based on movements of the representative index. Therefore, no asset or liability is recorded on the Consolidated Balance Sheets. Gains and/or losses on futures contracts are included in Change in fair value of assets and liabilities on the Consolidated Statements of Operations. Interest Rate Swaps, Credit Default Swaps, Total Return Swaps, and To Be Announced Securities The Company utilizes IRS, credit default swaps (CDS) and total return swaps (TRS) to hedge market risks embedded in certain annuities. Beginning in 2015, the Company began transacting To Be Announced (TBA) securities, which do not meet the security scope exception, to economically hedge market risks embedded in certain life and annuity products. The IRS, CDS, TRS and TBA securities are reported at fair value in Derivatives on the Consolidated Balance Sheets. The fair value of the over-the-counter IRS, CDS and TBA securities are derived using a third-party
Securities Lending	(n) Securities Lending The Company accounts for its securities lending transactions as secured borrowings, in which the collateral received and the related obligation to return the collateral are recorded on the Consolidated Balance Sheets as Cash and cash equivalents, and Other liabilities, respectively. Securities on loan remain on the Consolidated Balance Sheets, and interest and dividend income earned by the Company on loaned securities is recognized in Interest and similar income, net on the Consolidated Statements of Operations. The Company participates in restricted securities lending arrangements whereby specific securities are loaned to other institutions. The collateral is defined by the agreement to be cash and cash equivalents, is unrestricted and may be used for general purposes. Company policy requires a minimum of 102% of fair value of securities loaned under securities lending agreements to be maintained as collateral.
Receivables	(o) Receivables Receivable balances (contractual amount less allowance for doubtful accounts) are based on pertinent information available to management as of year-end,
Corporate-Owned Life Insurance	(p) Corporate-Owned Corporate-owned individual-life
Home Office Property and Equipment	(q) Home Office Property and Equipment Home office property consists of buildings and land. Equipment consists of furniture, office equipment, leasehold improvements, and computer hardware and software. Both are reported at cost, net of accumulated depreciation, in Other assets on the Consolidated Balance Sheets. Major upgrades and improvements are capitalized, while maintenance and repairs are expensed when incurred. Depreciation is computed over the estimated useful lives (3 – 7 years, depending on the asset) of depreciable assets using the straight-line start-up straight-line 39-year
Held-for-sale Assets and Liabilities	(r) Held-for-sale Assets and Liabilities The Company has reported a subsidiary as held-for-sale as of December 31, 2015. A buyer has been identified and a letter of intent has been signed. The Company reclassified assets of $12,436 to held-for-sale, recorded in Other assets on the Consolidated Balance Sheets. The Company reclassified liabilities of $3,223 to held-for-sale, recorded in Other liabilities on the Consolidated Balance Sheets. No income or expense was reclassified as a result of the signed letter of intent.
Income Taxes	(s) Income Taxes The Company and its subsidiaries file a consolidated federal income tax return with AZOA and all of its wholly owned subsidiaries. The consolidated tax allocation agreement stipulates that each company participating in the return will bear its share of the tax liability pursuant to certain tax allocation elections under the Internal Revenue Code and its related regulations and reimbursement will be in accordance with an intercompany tax reimbursement arrangement. The Company, and its insurance subsidiaries generally will be paid for the tax benefit on their losses and any other tax attributes to the extent they could have obtained a benefit against their post-1990 The Company provides for federal income taxes based on amounts the Company believes it ultimately will owe. Inherent in the provision for federal income taxes are estimates regarding the deductibility of certain items and the realization of certain tax credits. In the event the ultimate deductibility of certain items or the realization of certain tax credits differs from estimates, the Company may be required to significantly change the provision for federal income taxes recorded on the Consolidated Balance Sheets. Any such change could significantly affect the amounts reported on the Consolidated Statements of Operations. Management uses best estimates to establish reserves based on current facts and circumstances regarding tax exposure items where the ultimate deductibility is open to interpretation. Quarterly, management evaluates the appropriateness of such reserves based on any new developments specific to their fact patterns. Information considered includes results of completed tax examinations, Technical Advice Memorandums, and other rulings issued by the Internal Revenue Service or the tax courts. The Company utilizes the asset and liability method of accounting for income tax. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when it is determined that it is more likely than not that the deferred tax asset will not be fully realized or that the related temporary differences will not reverse over time (see further discussion in note 16).
Stockholder's Equity, Accumulated Unrealized Foreign Currency	(t) Stockholder’s Equity, Accumulated Unrealized Foreign Currency Foreign currency translation adjustments are related to the conversion of foreign currency upon the consolidation of a foreign branch (see further discussion in note 22). The net assets of the Company’s foreign operations are translated into U.S. dollars using exchange rates in effect at each year-end.
Separate Accounts and Annuity Product Guarantees	(u) Separate Accounts and Annuity Product Guarantees The Company issues variable annuity and life contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. The Company also issues variable indexed annuity contracts to its customers. These products have investment options similar to fixed-indexed annuities, but allow contractholders to invest in a variety of variable separate account investment options. The Company recognizes gains or losses on transfers from the general account to the separate accounts at fair value to the extent of contractholder interests in separate accounts, which are offset by changes in contractholder liabilities. The Company also issues variable annuity and life contracts through its separate accounts where the Company provides certain contractual guarantees to the contractholder. These guarantees are in the form of a guaranteed minimum death benefit (GMDB), a guaranteed minimum income benefit (GMIB), a guaranteed minimum accumulation benefit (GMAB), and a guaranteed minimum withdrawal benefit (GMWB). These guarantees provide for benefits that are payable to the contractholder in the event of death, annuitization, or at specified dates during the accumulation period. Separate account assets supporting variable annuity contracts represent funds for which investment income and investment gains and losses accrue directly to contractholders. Each fund has specific investment objectives and the assets are carried at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Separate account assets and liabilities are reported as summary totals on the Consolidated Balance Sheets. Amounts charged to the contractholders for mortality and contract maintenance are included in Policy fees on the Consolidated Statements of Operations. Administrative and other services are included in Fee and commission revenue on the Consolidated Statements of Operations. These fees have been earned and assessed against contractholders on a daily or monthly basis throughout the contract period and are recognized as revenue when assessed and earned. Changes in GMDB and GMIB are calculated in accordance with the Financial Services – Insurance Topic of the Codification and are included in Policyholder benefits on the Consolidated Statements of Operations. GMAB and GMWB are considered to be embedded derivatives under the Derivatives and Hedging Topic of the Codification, and the changes in these embedded derivatives are included in Change in fair value of annuity and life embedded derivatives on the Consolidated Statements of Operations. The GMDB net amount at risk is defined as the guaranteed amount that would be paid upon death, less the current accumulated contractholder account value. The GMIB net amount at risk is defined as the current amount that would be needed to fund expected future guaranteed payments less the current contractholder account value, assuming that all benefit selections occur as of the valuation date. The GMAB net amount at risk is defined as the current guaranteed value amount that would be added to the contracts less the current contractholder account value. The GMWB net amount at risk is defined as the current accumulated benefit base amount less the current contractholder account value. The GMDB provides a specified minimum return upon death. The survivor has the option to terminate the contract or continue it and have the death benefit paid into the contract. The Company’s GMDB options have the following features: • Return of Premium • Reset five-year • Ratchet six-year • Rollup • Earnings Protection Rider The GMIB is a living benefit that provides the contractholder with a guaranteed annuitization value. The GMIB features are: • Return of Premium • Ratchet one-year • Rollup The GMDB and GMIB liabilities are determined each period by estimating the expected future claims in excess of the associated account balances. The Company regularly evaluates estimates used and adjusts the additional liability balance, with a related charge or credit to Policyholder benefits on the Consolidated Statements of Operations, if actual experience or other evidence suggests that earlier assumptions should be revised. The following assumptions were used to determine the GMDB and GMIB liabilities as of December 31, 2015 and 2014: • 100 stochastically generated investment performance scenarios. • Mean investment performance assumption of 6.5% in 2015 and 2014. • Volatility assumption of 13.4% in 2015 and 2014. • Mortality assumption of 87% of the Annuity 2000 Mortality Table for all variable annuity products in 2015 and 90% of the Annuity 2000 Mortality Table for all variable annuity products in 2014. • Lapse rates vary by contract type and duration. Spike rates could approach 40% with an ultimate rate around 15%. • Discount rates vary by contract type and equal an assumed long-term • GMIB contracts only – dynamic lapse assumption. For example, if the contract is projected to have a large additional benefit, then it becomes less likely to lapse. The GMAB is a living benefit that provides the contractholder with a guaranteed value that was established at least five years prior at each contract anniversary. This benefit is first available at the fifth contract anniversary, seventh contract anniversary, or tenth contract anniversary depending on the type of contract. Depending on the contractholder’s selection at issue, this value may be either a return of premium or may reflect market gains, adjusted at least proportionately for withdrawals. The contractholder also has the option to reset this benefit. The GMWB is a living benefit that provides the contractholder with a guaranteed amount of income in the form of partial withdrawals. The benefit is payable provided the covered person is between the specified ages in the contract. The benefit is a fixed rate (depending on the age of the covered person) multiplied by the benefit base in the first year the benefit is taken and contract value in following years. The benefit does not decrease if the contract value decreases due to market losses. The benefit can decrease if the contract value is reduced by withdrawals. The benefit base used to calculate the initial benefit is the maximum of the contract value, the quarterly anniversary value, or the guaranteed annual increase of purchase payments (capped at twice the total purchase payments). Additionally, there is a GMWB living benefit where the benefit is an initial payment percentage established at issue, based on issue age. For each year there is a year-over-year The GMAB and GMWB liabilities are determined each period as the difference between expected future claims and the expected future profits. One result of this calculation is that these liabilities can be negative (contra liability). If the sum of the total embedded derivative balance is negative, the Company will reclassify the balance as an asset on the Consolidated Balance Sheets. The Company regularly evaluates estimates used and adjusts the additional liability balance, with a related charge or credit to Change in fair value of annuity and life embedded derivatives on the Consolidated Statements of Operations, if actual experience or other evidence suggests that earlier assumptions should be revised. Products featuring GMWB benefits were first issued in 2007. In the calendar year that a product launches, the reserves are set to zero, until the policy’s first anniversary date. The following assumptions were used to determine the GMAB and GMWB liabilities as of December 31, 2015 and 2014: • 1000 stochastically generated investment performance scenarios. • Market volatility assumption varies by fund type and grades from a current volatility number to a long-term 2015 Fund index type Current Long-term Large cap 17.6 % 18.1 % Bond 3.4 3.9 International 17.9 23.1 Small cap 20.8 21.3 2014 Fund index type Current Long-term Large cap 16.6 % 18.2 % Bond 3.4 3.9 International 16.3 23.7 Small cap 21.3 21.2 • Mortality assumption of 87% of the Annuity 2000 Mortality Table for all variable annuity products in 2015 and 90% of the Annuity 2000 Mortality Table for all variable annuity products in 2014. • Lapse rates vary by contract type and duration. Spike rates could approach 40% with an ultimate rate around 15%. GMAB cash flows are discounted using a rate equal to current month’s London Interbank Offered Rate (LIBOR) plus a Company specific spread for the years ended December 31, 2015 and 2014. Beginning in December of 2014, the expected life-contingent GMWB payments are discounted using a blend of short and long term rates to the date the account value is expected to be exhausted. These obligations and all cash flows are then discounted to the current date using LIBOR plus a spread for the Company’s own nonperformance risk. Previously, GMWB cash flows were discounted using a rate equal to the current month’s LIBOR plus a Company specific spread. The Company issues fixed-indexed roll-up
Prescribed and Permitted Statutory Accounting Practices	(v) Prescribed and Permitted Statutory Accounting Practices The Company is required to file annual statements with insurance regulatory authorities, which are prepared on an accounting basis prescribed or permitted by such authorities. Prescribed statutory accounting practices include state laws, regulations, and general administrative rules, as well as a variety of publications of the National Association of Insurance Commissioners (NAIC). Permitted statutory accounting practices encompass all accounting practices that are not prescribed; such practices differ from state to state, may differ from company to company within a state, and may change in the future. The Company did not have any permitted practices in effect for 2015. The Company’s subsidiary, Allianz Life Insurance Company of Missouri, LLC (AZMO), has adopted an accounting practice that is prescribed by the Department of Insurance, Financial Institutions, and Professional Registration of the State of Missouri. The effect of the accounting practice allows a letter of credit to be carried as an admitted asset. Under NAIC SAP, this letter of credit would not be allowed as an admitted asset. This prescribed practice does not impact the net income of AZMO and results in a $125,317 increase to statutory surplus as of December 31, 2015.
Recently Issued Accounting Pronouncements - Adopted	(w) Recently Issued Accounting Pronouncements – Adopted In August 2014, the FASB issued amendments to guidance about troubled debt restructurings by creditors. The amendments require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: 1) the loan has a government guarantee that is not separable from the loan before foreclosure, 2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. The revisions are effective for fiscal years beginning after December 15, 2014. This guidance does not have an impact on the Consolidated Financial Statements as the Company does not currently have holdings that would be impacted by this guidance. In March 2014, the FASB amended Topic 205, Presentation of Financial Statements, and Topic 360, Property, Plant and Equipment. These amendments apply to either a component of an entity that either is disposed of or meets the criteria to be classified as held for sale or a business that, on acquisition, meets the criteria to be classified as held for sale. Under these amendments, a component of an entity or a group of components of an entity or a business is required to be reported in discontinued operations if the disposal represents a strategic shift that has a major effect on an entity’s operations and financial results. A strategic shift may include situations such as disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of the entity. These amendments require additional disclosures about discontinued operations. The amendments in this standard should not be applied to a component of an entity that is classified as held for sale before the effective date even if disposed after the effective date. The amendments are effective, prospectively, within annual periods beginning on or after December 15, 2014 and for interim periods within annual periods beginning on or after December 15, 2015. This guidance does not impact the Consolidated Financial Statements as the Company does not currently have discontinued operations.
Recently Issued Accounting Pronouncements - To Be Adopted	(x) Recently Issued Accounting Pronouncements – To Be Adopted In November 2015, the FASB released ASU 2015-17, Income Taxes, to simplify the presentation of deferred income taxes by requiring that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This amendment will better align the accounting of deferred income tax assets and liabilities with IFRS guidance and is effective for financial statements issued for annual periods beginning after December 15, 2016. This guidance does not have an impact on the Consolidated Financial Statements as the Company does not currently have a classified balance sheet. In September 2015, the FASB released ASU 2015-16, Business Combinations, to require that an acquirer recognize changes to provisional amounts that are identified during the measurement period in the period in which the adjustment amounts are determined, rather than retrospectively adjusting with a corresponding adjustment to goodwill. The guidance is effective for fiscal years beginning after December 15, 2015. The Company is assessing the impact of this amendment on the Consolidated Financial Statements. In July 2015, the FASB released ASU 2015-12, Plan Accounting, to reduce complexity in employee benefit plan accounting. Currently, employee benefit plan guidance requires fully benefit-responsive investment contracts to be measured at contract value. The guidance designates contract value as the only required measure for fully benefit-responsive investment contracts and is effective for fiscal years beginning after December 15, 2015. The Company does not have any benefit plans that would be classified as fully benefit-responsive investment contracts; therefore, the guidance will not impact the Consolidated Financial Statements. In May 2015, the FASB released ASU 2015-09, Disclosures about Short-Duration Contracts, to add disclosure requirements for the liability for unpaid claims and claim adjustment expenses on short-duration insurance contracts. The guidance is effective for fiscal years beginning after December 15, 2015. The Company is assessing the impact of this guidance on the Consolidated Financial Statements. In May 2015, the FASB issued an amendment to the existing Topic 820, Fair Value Measurement (Update), permits a practical expedient to measure the fair value of certain investments using the net asset value per share of the investment. The investments valued using the practical expedient are categorized within the hierarchy on the basis of whether the investment is redeemable with the investee at net asset value on the measurement date, never redeemable with the investee at net asset value, or redeemable with the investee at net asset value at a future date. The amendments in this Update remove the requirement to categorize investments for which fair values are measured using the net asset value per share practical expedient. The amendments are effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The Company is assessing the impacts of the amendments on the Consolidated Financial Statements. In April 2015, the FASB issued ASU 2015-05, Intangibles- Goodwill and Other- Internal-Use Software to provide guidance on cloud computing arrangements. Existing GAAP does not include explicit guidance about a customer’s accounting for fees paid in a cloud computing arrangement. The amendments provide guidance to customers about whether a cloud computing arrangement includes a software license. If the arrangement contains a software license, it is accounted for like other software licenses. If no software license exists, then the arrangement is accounted for as a service contract. The amendments will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The amendments to this guidance are not expected to have a material impact on the Consolidated Financial Statements. In February 2015, the FASB issued ASC 2015-02 to reduce the number of consolidation models and place more emphasis on risk of loss when determining a controlling financial interest. Specifically, the amendments: 1. Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities 2. Eliminate the presumption that a general partner should consolidate a limited partnership 3. Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships 4. Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The guidance is effective for public entities for fiscal years beginning after December 15, 2015. The Company is in the process of assessing the impact of these amendments. In January 2015, the FASB issued ASU 2015-01, Extraordinary and Unusual Items, to simplify financial statements by eliminating the concept of extraordinary items. The amendments are effective for interim and fiscal years beginning after December 15, 2015. The Company does not currently report any extraordinary items; therefore, the amendment will not impact the Consolidated Financial Statements. In August 2014, the FASB issued an amendment to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The amendments are intended to reduce diversity in the timing and content of footnote disclosures. Additional disclosures are required. The revisions are effective for annual periods ending after December 15, 2016, and for annual and interim periods, thereafter. The guidance is not expected to have an impact on the Consolidated Financial Statements. In August 2014, the FASB revised guidance related to consolidations of VIEs that are a collateralized financing entity, such as a collateralized debt obligation (CDO) or a collateralized loan obligation (CLO) entity, when the reporting entity determines that it is the primary beneficiary. This revision will apply to reporting entities that are required to consolidate a collateralized financing entity under the variable interest entity guidance when 1) the reporting entity measures the financial assets and liabilities of that collateralized financing entity at fair value based on other Topics and 2) the changes in the fair value are reflected in earnings. The revisions are effective for fiscal years beginning after December 15, 2015. Early adoption is permitted. The guidance is not expected to have an impact on the Consolidated Financial Statements. In May 2014, the FASB issued a new standard for recognizing revenue from contracts when goods and services are transferred to a customer in exchange for payment. The model requires 1) identifying contracts with a customer, 2) identifying separate performance obligations, 3) determining the transaction price, 4) allocating the transaction price to the separate performance obligations and 5) recognizing revenue when (or as) the entity satisfies a performance obligation. The revenue recognition standard does not apply to financial instruments or to insurance contracts. However, the standard will require significantly more disclosures about items that are recorded under the new revenue recognition model. An entity may apply the new guidance using one of the following two methods: (1) retrospectively to each prior period presented, or (2) retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. In July 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which defers the effective date of ASU 2014-09 to the annual reporting period beginning January 1, 2018. Early adoption for periods beginning on or after December 15, 2016, is permitted. The Company is currently evaluating the impact of this guidance on the Consolidated Financial Statements. In June 2014, the FASB revised guidance about share-based payment transactions. These revisions apply to entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The revisions are effective for fiscal years beginning after December 15, 2015. Early adoption is permitted. The guidance is not expected to have an impact on the Consolidated Financial Statements.
Accounting Changes	(y) Accounting Changes On April 1, 2014, the Company applied a prospective change to its method of calculating DAC amortization for variable annuity policies issued prior to 2010. This was a change in estimate that is inseparable from the effect of a related change in accounting principle. For these annuities, acquisition costs are now amortized in relation to the present value of estimated gross revenues, whereas previously the amortization was based on estimated future gross profits. The implementation of the new DAC amortization will better reflect the revenue pattern of the pre-2010 variable block of business, which is currently in run-off. The implementation of this change resulted in a decrease in income from operations before income taxes of approximately $165,790 for the year ended December 31, 2014. On December 1, 2014, the Company applied a prospective change to its method of calculating DAC amortization for variable annuity policies issued after 2010. The change in estimate will minimize accounting mismatches on interest and claim projections within the EGP calculation. The implementation of this change resulted in a decrease in income from operations before income taxes of approximately $45,623 for the year ended December 31, 2014.
Reclassifications	(z) Reclassifications Certain prior year balances have been reclassified to conform to the current year presentation. The reclassifications did not change total assets, stockholders equity or net income as previously reported.

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Market Volatility Assumptions	• Market volatility assumption varies by fund type and grades from a current volatility number to a long-term 2015 Fund index type Current Long-term Large cap 17.6 % 18.1 % Bond 3.4 3.9 International 17.9 23.1 Small cap 20.8 21.3 2014 Fund index type Current Long-term Large cap 16.6 % 18.2 % Bond 3.4 3.9 International 16.3 23.7 Small cap 21.3 21.2

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value of Available-for-Sale and Held -to-maturity Securities	At December 31, 2015 and 2014, the amortized cost or cost, gross unrealized gains, gross unrealized losses, and fair values of available-for-sale held-to-maturity Amortized cost Gross Gross Fair OTTI in 2015: Fixed-maturity securities, available-for-sale: U.S. government $ 1,682,642 78,089 5,407 1,755,324 653 Agencies not backed by the full faith and credit of the U.S. government 10,474 91 51 10,514 — States and political subdivisions 8,533,503 514,459 49,428 8,998,534 — Foreign government 269,608 9,675 7,116 272,167 — Public utilities 5,798,475 480,099 56,376 6,222,198 189 Corporate securities 50,603,848 2,275,966 1,933,329 50,946,485 (4,640 ) Mortgage-backed securities 12,263,037 296,408 61,646 12,497,799 — Collateralized mortgage obligations 9,208 1,075 — 10,283 — Collateralized debt obligations 9,738 11,573 147 21,164 11,572 Total fixed-maturity securities, available-for-sale 79,180,533 3,667,435 2,113,500 80,734,468 7,774 Fixed-maturity securities, held-to-maturity: Corporate securities 55 10 — 65 — CDOs — 5,214 — 5,214 — Total fixed-maturity securities held-to-maturity 55 5,224 — 5,279 — Equity securities, available-for-sale: Common stock 71,005 — 2,394 68,611 — Total available-for-sale and held-to-maturity securities $ 79,251,593 3,672,659 2,115,894 80,808,358 7,774 Amortized cost Gross Gross Fair OTTI in 2014: Fixed-maturity securities, available-for-sale: U.S. government $ 1,127,783 105,433 262 1,232,954 — Agencies not backed by the full faith and credit of the U.S. government 130,703 14,671 24 145,350 — States and political subdivisions 6,718,229 824,806 2,093 7,540,942 — Foreign government 308,633 13,505 10,463 311,675 — Public utilities 5,482,698 851,165 5,614 6,328,249 484 Corporate securities 45,725,053 4,067,245 294,841 49,497,457 2,579 Mortgage-backed securities 13,415,946 682,880 929 14,097,897 — Collateralized mortgage obligations 10,697 1,335 — 12,032 — Collateralized debt obligations 33,637 11,745 153 45,229 11,719 Total fixed-maturity securities, available-for-sale 72,953,379 6,572,785 314,379 79,211,785 14,782 Fixed-maturity securities, held-to-maturity: Corporate securities 82 15 — 97 — CDOs 180,316 24,076 — 204,392 — Total fixed-maturity securities held-to-maturity 180,398 24,091 — 204,489 — Equity securities, available-for-sale: Common stock 6,180 46 — 6,226 — Total available-for-sale and held-to-maturity securities $ 73,139,957 6,596,922 314,379 79,422,500 14,782 (1) The amount represents the subsequent changes in net unrealized gain or loss on other-than-temporarily
Net Unrealized Gains on Available-for-Sale Securities and Effective Portion of Cash Flow Hedges	The net unrealized gains on available-for-sale 2015 2014 2013 Available-for-sale securities: Fixed maturity $ 1,553,935 6,258,406 3,697,314 Equity (2,394 ) 46 — Held-for-sale securities 798 — — Cash flow hedges 16,013 2,269 1,570 Adjustments for: Shadow adjustments (825,607 ) (3,542,160 ) (2,174,866 ) Deferred taxes (259,961 ) (951,480 ) (533,407 ) Net unrealized gains $ 482,784 1,767,081 990,611
Proceeds from Sale of Available for Sale Investments	Proceeds from sales of available-for-sale 2015 2014 2013 Available-for-sale: Fixed-maturity securities: Proceeds from sales $ 996,801 1,479,188 2,503,974 Equity securities: Proceeds from sales 58,858 29,209 134,400
Unrealized Losses on Available-For-Sale Securities and Related Fair Value	Unrealized losses on available-for-sale 12 months or less Greater than 12 months Total Fair value Unrealized Fair value Unrealized Fair value Unrealized 2015: Fixed-maturity securities, available-for-sale: U.S. government $ 600,970 5,395 4,959 12 605,929 5,407 U.S. government agency 4,536 51 — — 4,536 51 States and political subdivisions 1,873,125 48,306 28,015 1,122 1,901,140 49,428 Foreign government 42,338 1,787 32,219 5,329 74,557 7,116 Public utilities 1,319,479 50,552 20,454 5,824 1,339,933 56,376 Corporate securities 16,369,002 1,265,080 1,639,373 668,249 18,008,375 1,933,329 Mortgage-backed securities 3,066,569 61,030 15,433 616 3,082,002 61,646 CDOs — — 730 147 730 147 Total temporarily impaired securities $ 23,276,019 1,432,201 1,741,183 681,299 25,017,202 2,113,500 12 months or less Greater than 12 months Total Fair value Unrealized Fair value Unrealized Fair value Unrealized 2014: Fixed-maturity securities, available-for-sale: U.S. government $ 23,411 51 23,481 211 46,892 262 U.S. government agency 3,342 24 — — 3,342 24 States and political subdivisions 51,483 599 146,339 1,494 197,822 2,093 Foreign government 66,859 10,463 — — 66,859 10,463 Public utilities 129,018 3,589 35,919 2,025 164,937 5,614 Corporate securities 4,101,602 211,776 1,198,903 83,065 5,300,505 294,841 Mortgage-backed securities 102,104 491 19,724 438 121,828 929 CDOs 4,176 67 19,792 86 23,968 153 Total temporarily impaired securities $ 4,481,995 227,060 1,444,158 87,319 5,926,153 314,379
Cumulative Credit Impairments on Fixed-maturity Securities	The following table presents a rollforward of the Company’s cumulative credit impairments on fixed-maturity 2015 2014 Balance as of January 1 $ 36,948 45,722 Additions for credit impariments recognized on (1): Securities not previously impaired 536 — Securities previously impaired 1,086 4,391 Securities that the Company intends to sell or more likely than not be required to sell before recovery (interest) 57,353 2,054 Reductions for credit impairments previously on: Securities that matured, were sold, or were liquidated during the period (36,558 ) (15,219 ) Balance as of December 31 $ 59,365 36,948 (1) There were $58,975 and $6,445 of additions included in the net OTTI losses recognized in Realized investment gains, net in the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, respectively.
Gross and Net Realized Investment Gains (Losses)	Gross and net realized investment gains (losses) for the years ended December 31, are summarized as follows: 2015 2014 2013 Available-for-sale: Fixed-maturity securities: Gross gains on sales and exchanges $ 108,094 96,698 160,091 Gross losses on sales and exchanges (15,272 ) (11,114 ) (36,798 ) OTTI (57,598 ) (6,445 ) (14,957 ) Net gains on fixed-maturity securities 35,224 79,139 108,336 Equity securities: Gross gains on sales 2 113 — Gross losses on sales (184 ) (1 ) — Net (losses) gains on equity securities (182 ) 112 — Net gains on available-for-sale securities 35,042 79,251 108,336 Held-to-maturity: Gross gains on exchanges 31,832 — 44,179 Gross losses on exchanges (11 ) (84 ) (11 ) OTTI — — (91 ) Net (losses) gains on held-to-maturity securities 31,821 (84 ) 44,077 (Provision) benefit for mortgage loans on real estate (2,400 ) 5,000 18,500 Gains for mortgage loans on real estate — — 4,929 Investment in affiliates — (6,500 ) 11,810 Gain (loss) on real estate sales 5,929 — (29 ) Net gains on sales of acquired loans 24,027 95 674 Other (6 ) — — Net realized investment gains $ 94,413 77,762 188,297
Interest and Similar Income, Net	Major categories of interest and similar income, net, for the respective years ended December 31 are shown below: 2015 2014 2013 Interest and similar income: Available-for-sale fixed-maturity securities $ 3,752,867 3,552,896 3,185,680 Mortgage loans on real estate 413,103 377,917 367,196 Interest on acquired loans 28,122 27,548 27,817 Investment income on trading securities 16,472 11,645 9,735 Policy loans 9,834 9,981 10,461 Short-term securities 8,761 7,864 5,575 Held-to-maturity fixed-maturity securities 5,746 15,894 26,781 Interest rate swaps 5,197 1,867 697 Other invested assets 3,286 2,083 196 Interest on assets held by reinsurers 2,626 2,798 2,915 Interest on loans to affiliates 516 980 1,549 Rental income on real estate — — 1,462 Total 4,246,530 4,011,473 3,640,064 Less investment expenses 66,427 54,175 47,947 Total interest and similar income, net $ 4,180,103 3,957,298 3,592,117
Investment in Mortgage Loans on Real Estate	The Company’s investment in mortgage loans on real estate at December 31 is summarized as follows: 2015 2014 Mortgage loans on real estate: Mortgage loans $ 8,825,418 7,217,169 Valuation allowances (37,400 ) (35,000 ) Total mortgage loans on real estate $ 8,788,018 7,182,169
Valuation Allowances on Mortgage Loans on Real Estate	The valuation allowances on mortgage loans on real estate at December 31 and the changes in the allowance for the years then ended are summarized as follows: 2015 2014 2013 Balance, beginning of year $ 35,000 66,750 85,250 Release due to discounted payoff — (26,750 ) — Provision (benefit) charged to operations 2,400 (5,000 ) (18,500 ) Balance, end of year $ 37,400 35,000 66,750
Available-for-sale Securities
Amortized Cost and Fair Value of Fixed Maturity Securities, by Contractual Maturity	The amortized cost and fair value of available-for-sale fixed-maturity Amortized Fair value Available-for-sale fixed-maturity securities: Due in one year or less $ 1,686,024 1,714,562 Due after one year through five years 12,759,691 13,454,444 Due after five years through ten years 19,854,889 19,656,047 Due after ten years 32,607,684 33,401,333 Mortgage-backed securities and collateralized mortgage obligations 12,272,245 12,508,082 Total available-for-sale fixed-maturity securities $ 79,180,533 80,734,468
Held-to-maturity Securities
Amortized Cost and Fair Value of Fixed Maturity Securities, by Contractual Maturity	The amortized cost and fair value of held-to-maturity fixed-maturity Amortized Fair value Held-to-maturity fixed-maturity securities: Due after one year through five years $ 55 65 Due after ten years — 5,214 Total held-to-maturity fixed-maturity securities $ 55 5,279

Derivatives and Hedging Instr39

Derivatives and Hedging Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Components of Gains or Losses Related to Derivatives that Qualify as Cash Flow Hedges	The following table presents the components of the gains or losses related to the effective portion of the derivatives that qualify as cash flow hedges: Derivatives designated as Amount of gains (losses) cash flow hedging instruments 2015 2014 2013 Interest rate swaps, net of tax benefit of ($332), ($217), and ($238), at December 31, 2015, 2014, and 2013, respectively $ (617 ) (403 ) (443 ) Foreign currency swaps, net of tax expense of $15,550, $4,683, and $0 at December 31, 2015, 2014, and 2013, respectively 28,879 8,698 — Total $ 28,262 8,295 (443 )
Company Held Options Purchased (Asset) and Options Sold (Liability) with Amortized Cost Basis, Fair Value, and Notional Amounts	As of December 31, the Company held options purchased (asset) and options sold (liability) with the following amortized cost basis, fair value, and notional amounts: 2015 2014 Options: Purchased (asset): Amortized cost $ 589,415 516,120 Fair value 359,949 504,309 Notional 28,073,842 40,747,227 Sold (liability): Basis $ 341,266 323,227 Fair value 226,761 322,185 Notional 24,549,455 32,723,520
Credit Derivative Type By Derivative Risk Exposure And Reference Type	The following table presents the notional amount, fair value, weighted average years to maturity, underlying referenced credit obligation type, and average credit ratings for the credit derivatives in which the Company was assuming credit risk as of December 31, 2015 and 2014: Credit Derivative type by derivative risk exposure and reference type Notional Fair Value Weighted Average 2015: Basket credit default swaps Investment grade risk exposure U.S. corporate credit $ 150,900 1,569 7 BBB+ Total $ 150,900 1,569 2014: Basket credit default swaps Investment grade risk exposure U.S. corporate credit $ 145,300 2,364 8 BBB+ Below investment grade risk Emerging markets sovereign credit 6,200 (642 ) 11 BBB- Total $ 151,500 1,722
Balance Sheet Location and Fair Value of Derivatives	The following table presents the balance sheet location and the fair value of the derivatives, including embedded derivatives, for both cash flow hedges and nonqualifying strategies as of December 31: Fair value Derivatives designated as cash flow hedging instruments 2015 2014 Interest rate swaps $ — 950 Foreign currency swaps 53,794 15,647 Total cash flow hedging instruments $ 53,794 16,597 Derivatives designated as nonqualifying hedging instruments and certain hedged items, net OTC $ 132,574 180,789 ETO — 33 SARs 614 1,302 GMWB (2,170,539 ) (1,491,280 ) GMAB (374,857 ) (264,857 ) MVLO (14,495,312 ) (14,903,758 ) CDO embedded derivative — 3,669 TRS (31,462 ) 7,156 Other embedded derivative 3,097 1,673 Interest rate swaps 82,705 62,297 TBA Securities (34 ) — Total nonqualifying hedging instruments (16,853,214 ) (16,402,976 ) Total derivative instruments $ (16,799,420 ) (16,386,379 ) Location in Consolidated Balance Sheets Derivatives $ 591,609 721,736 Account balances and future policy benefit reserves (17,040,708 ) (16,659,895 ) Derivative liability (350,321 ) (448,220 ) Total derivative instruments $ (16,799,420) (16,386,379)
Gains or Losses Recognized in Income	The following table presents the gains or losses recognized in income on the various nonqualifying strategies: Derivatives designated as nonqualifying hedging instruments and Location in Consolidated Amount of (losses) gains on derivatives certain hedged item, net Statements of Operations 2015 2014 2013 MVLO Policy fees $ 79,951 194,229 568,744 MVLO Policyholder benefits 115,737 2,159 10,191 MVLO Change in fair value of annuity and life embedded derivatives 212,758 (3,344,049 ) (2,677,038 ) GMWB Change in fair value of annuity and life embedded derivatives (679,259 ) (1,445,524 ) 912,073 GMAB Change in fair value of annuity and life embedded derivatives (122,094 ) (166,411 ) 166,904 Total change in fair value of annuity and life embedded derivatives (588,595 ) (4,955,984 ) (1,598,061) OTC Change in fair value of assets and liabilities (361,419 ) 862,097 (479,713 ) ETO Change in fair value of assets and liabilities 291 66,855 (11,538 ) Futures Change in fair value of assets and liabilities (423,134 ) (267,628 ) 1,693,399 SARs Change in fair value of assets and liabilities 630 69 1,823 CDO embedded derivative Change in fair value of assets and liabilities (188 ) (150 ) (119 ) Other embedded derivatives Change in fair value of assets and liabilities 1,423 (230 ) (623 ) Forward commitments Change in fair value of assets and liabilities 330 — — Interest rate swaps Change in fair value of assets and liabilities 279,158 1,085,355 (684,511 ) TRS Change in fair value of assets and liabilities 4,093 113,236 391,726 Credit Default Swaps Change in fair value of assets and liabilities (2,220 ) (626 ) — Total change in fair value of freestanding and other derivatives (501,036 ) 1,858,978 910,444 Total derivative loss, net $ (893,943) (2,900,618 ) (108,682 )
Derivative Assets Subject to Master Netting Arrangement	The following tables present additional information about derivative assets and liabilities subject to an enforceable master netting arrangement as of the dates indicated: December 31, 2015 Gross amounts not offset in the Balance Sheet Gross Gross Net amounts Financial (1) Collateral Net Derivative assets $ 587,898 — 587,898 (346,116 ) (216,659 ) 25,123 Derivative liabilities (350,276 ) — (350,276 ) 346,116 4,160 — Net derivatives $ 237,622 — 237,622 — (212,499 ) 25,123 December 31, 2014 Gross amounts not offset in the Balance Sheet Gross Gross Net amounts Financial (1) Collateral Net Derivative assets $ 715,092 — 715,092 (424,495 ) (212,596 ) 78,001 Derivative liabilities (448,220) — (448,220 ) 424,495 23,352 (373 ) Net derivatives $ 266,872 — 266,872 — (189,244 ) 77,628

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present the assets and liabilities measured at fair value on a recurring basis and their corresponding level in the fair value hierarchy at December 31: Total Level 1 Level 2 Level 3 2015: Assets accounted for at fair value: Fixed-maturity securities, available-for-sale: U.S. government $ 1,755,324 1,755,324 — — Agencies not backed by the full faith and credit of the U.S. government 10,514 — 10,514 — States and political subdivisions 8,998,534 — 8,998,035 499 Foreign government 272,167 — 238,794 33,373 Public utilities 6,222,198 — 5,572,340 649,858 Corporate securities 50,946,485 — 44,574,746 6,371,739 Mortgage-backed securities 12,497,799 — 12,442,893 54,906 CMOs 10,283 — 10,283 — CDOs 21,164 — — 21,164 Fixed-maturity securities, at fair value through income 37,111 37,111 — — Derivative investments 591,609 — 589,259 2,350 Equity securities, available-for-sale 68,611 68,611 — — Equity securities, trading 292,816 269,956 22,860 — Corporate-owned life insurance 316,926 — 316,926 — Separate account assets 28,243,123 28,243,123 — — Total assets accounted for at fair value $ 110,284,664 30,374,125 72,776,650 7,133,889 Liabilities accounted for at fair value: Derivative liabilities $ 350,321 — 316,509 33,812 Separate account liabilities 28,243,123 28,243,123 — — Reserves at fair value (1) 18,096,009 — — 18,096,009 Total liabilities accounted for at fair value $ 46,689,453 28,243,123 316,509 18,129,821 Total Level 1 Level 2 Level 3 2014: Assets accounted for at fair value: Fixed-maturity securities, available-for-sale: U.S. government $ 1,232,954 1,232,954 — — Agencies not backed by the full faith and credit of the U.S. government 145,350 — 145,350 — States and political subdivisions 7,540,942 — 7,540,942 — Foreign government 311,675 — 277,528 34,147 Public utilities 6,328,249 — 5,807,050 521,199 Corporate securities 49,497,457 — 44,284,896 5,212,561 Mortgage-backed securities 14,097,897 — 14,096,565 1,332 CMOs 12,032 — 12,032 — CDOs 45,229 — — 45,229 Fixed-maturity securities, at fair value through income 41,223 41,223 — — Derivative investments 721,736 32 710,121 11,583 Equity securities, available-for-sale 6,226 6,226 — — Equity securities, trading 314,023 286,971 27,052 — Corporate-owned life insurance 312,419 — 312,419 — Separate account assets 30,789,371 30,789,371 — — Total assets accounted for at fair value $ 111,396,783 32,356,777 73,213,955 5,826,051 Liabilities accounted for at fair value: Derivative liabilities $ 448,220 — 447,463 757 Separate account liabilities 30,789,371 30,789,371 — — Reserves at fair value (1) 17,052,283 — — 17,052,283 Total liabilities accounted for at fair value $ 48,289,874 30,789,371 447,463 17,053,040 (1) Reserves at fair value are reported in Account balances and future policy benefit reserves on the Consolidated Balance Sheets.
Reconciliation of the Beginning and Ending Balances for the Company's Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table provides a reconciliation of the beginning and ending balances for the Company’s Level 3 assets and liabilities measured at fair value on a recurring basis: Realized gains (losses) included in net income Total realized/unrealized related to gains (losses) included in financial Other Purchases Sales Transfer into instruments Beginning comprehensive and and and/or (out of) Ending still held at balance Net income income (loss) issuances settlements Level 3, net balance December 31 2015: Fixed-maturity securities: Available-for-sale: States and political subdivisions $ — — (1 ) 500 — — 499 — Foreign government 34,147 — (774 ) — — — 33,373 — Public utilities 521,199 (1,025 ) (26,113 ) 161,600 (5,803 ) — 649,858 (1,024 ) Corporate securities 5,212,561 (19,428 ) (313,328 ) 1,820,806 (329,689 ) 817 6,371,739 (26,502 ) CDOs 45,229 516 (167 ) — (24,414 ) — 21,164 36 Mortgage-backed 1,332 30 (2 ) — (1,314 ) 54,860 54,906 — Total fixed-maturity securities $ 5,814,468 (19,907 ) (340,385 ) 1,982,906 (361,220 ) 55,677 7,131,539 (27,490 ) Derivative assets $ 11,583 182,923 — — (192,156 ) — 2,350 2,917 Derivative liabilities (757 ) (179,854 ) — — 146,799 — (33,812 ) (28,494 ) Reserves at fair value (17,052,283 ) 273,778 — (2,687,078 ) 1,369,574 — (18,096,009 ) (2,413,300 ) Realized gains (losses) included in net income Total realized/unrealized related to gains (losses) included in financial Other Purchases Sales Transfer into instruments Beginning comprehensive and and and/or (out of) Ending still held at balance Net income income (loss) issuances settlements Level 3, net balance December 31 2014: Fixed-maturity securities: Available-for-sale: Foreign government $ 33,284 — 863 — — — 34,147 — Public utilities 201,195 (63 ) 21,494 205,774 (8,435 ) 101,234 521,199 (63 ) Corporate securities 3,727,803 (3,046 ) 138,923 1,432,088 (144,367 ) 61,160 5,212,561 (11,865 ) CDOs 56,872 2,488 (592 ) — (13,539 ) — 45,229 1,615 Mortgage-backed securities 3,080 112 (41 ) — (1,819 ) — 1,332 112 Total fixed-maturity securities $ 4,022,234 (509 ) 160,647 1,637,862 (168,160 ) 162,394 5,814,468 (10,201 ) Derivative assets $ 8,666 240,700 — — (237,783 ) — 11,583 2,917 Derivative liabilities (29,251 ) (128,330 ) — — 156,824 — (757 ) 28,494 Reserves at fair value (11,943,461 ) (4,077,424 ) — (2,166,876 ) 1,135,478 — (17,052,283 ) (6,244,300 )
Significant Unobservable Inputs Used in Fair Value Measurements for Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table provides a summary of the significant unobservable inputs used in the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities on a recurring basis at December 31: Fair value Valuation Technique Unobservable input Range (weighted 2015: Fixed-maturity securities: Available-for-sale: States and political subdivisions $ 499 Discounted cash flow Option adjusted spread 206-206 (206) Foreign government 33,373 Matrix pricing Option adjusted spread 132-182 (165) Public utilities 649,858 Matrix pricing Option adjusted spread 94-492 (193) Corporate securities 6,371,739 Matrix pricing Option adjusted spread 40-1,415 (234) CDOs 21,164 Intex discounted Constant prepayment rate 0%–25% cash flows Loss severity 12%–100% Annual default rate 0.19%–100% Mortgage back securities 54,906 Intex discounted Constant prepayment rate 0%–25% cash flows Loss severity 12%–100% Annual default rate 0.19%–100% Derivative assets: TRS $ 2,350 Third-Party Vendor Spread and discount rates * Derivative liabilities: TRS (33,812) Third-Party Vendor Spread and discount rates * Reserves at Fair Value: MVLO $ (14,495,312) Discounted cash flow Annuitizations 0–25% Surrenders 0–25% Mortality** 0–100% Withdrawal Benefit Election 0-50% GMWB and GMAB (2,545,396) Discounted cash flow Surrenders 0.5–35% Mortality** 0–100% * Management does not have insight into the specific assumptions used. See narrative below for qualitative discussion. ** Mortality assumptions are derived by applying management determined factors to the Annuity 2000 Mortality Table for MVLO and actively issued GMWB and GMAB and the 1994 MGDB Mortality Table for all other GMWB and GMAB.
Fair Value of Financial Assets and Liabilities	The following table presents the carrying amounts and fair values of financial assets and liabilities carried at book value at December 31: 2015 Carrying amount Fair value Level 1 Level 2 Level 3 Total Financial assets: Held-to-maturity fixed-maturity securities $ 55 — — 5,279 5,279 Mortgage loans on real estate 8,788,018 — — 9,042,293 9,042,293 Loans to affiliates 33,005 — — 32,733 32,733 Policy loans 163,129 — 163,129 — 163,129 Acquired loans 224,083 — — 271,927 271,927 Other invested assets 92,977 — — 92,977 92,977 Financial liabilities: Investment contracts $ 89,282,957 — — 90,027,198 90,027,198 Other liabilities 500,000 — — 499,079 499,079 Mortgage notes payable 84,761 — — 98,890 98,890 2014 Carrying amount Fair value Level 1 Level 2 Level 3 Total Financial assets: Held-to-maturity fixed-maturity securities $ 180,398 — — 204,489 204,489 Mortgage loans on real estate 7,182,169 — — 7,618,106 7,618,106 Loans to affiliates 850,115 — 850,115 — 850,115 Policy loans 160,141 — 160,141 — 160,141 Acquired loans 201,268 — 175,888 97,487 273,375 Other invested assets 75,041 — — 75,041 75,041 Financial liabilities: Investment contracts $ 84,156,386 — — 84,921,955 84,921,955 Mortgage notes payable 92,184 — — 109,119 109,119

Financing Receivables (Tables)

Financing Receivables (Tables)	12 Months Ended
	Dec. 31, 2015
Allowances For Credit Losses And Investment in Financing Receivables	The allowances for credit losses and recorded investment in financing receivables as of December 31 are shown below: Mortgage Nontrade Loans to Loans to non-affiliates Total 2015: Allowance for credit losses: Beginning balance $ 35,000 6,486 — — 41,486 (Benefit)/provision 2,400 (961 ) — — 1,439 Ending balance 37,400 5,525 — — 42,925 Ending balance individually evaluated for impairment — — — — — Ending balance collectively evaluated for impairment $ 37,400 5,525 — 42,925 Financing receivables: Ending balance $ 8,825,418 30,557 33,000 11,341 8,900,316 Ending balance individually evaluated for impairment — — — — — Ending balance collectively evaluated for impairment $ 8,825,418 30,557 33,000 11,341 8,900,316 Mortgage Nontrade Loans to Loans to non-affiliates Total 2014: Allowance for credit losses: Beginning balance $ 66,750 6,217 — — 72,967 (Benefit)/provision (31,750 ) 269 — — (31,481 ) Ending balance 35,000 6,486 — — 41,486 Ending balance individually evaluated for impairment — 1,505 — — 1,505 Ending balance collectively evaluated for impairment $ 35,000 4,981 — — 39,981 Financing receivables: Ending balance $ 7,217,169 31,962 — 30,335 7,279,466 Ending balance individually evaluated for impairment — 1,505 — 30,335 31,840 Ending balance collectively evaluated for impairment $ 7,217,169 30,457 — — 7,247,626
Loan-to-Value Analysis of Commercial Properties	The loan-to-value 2015 2014 Less than 50% $ 3,562,574 40.4 % $ 2,439,554 33.9 % 50% – 60% 2,650,959 30.0 1,849,502 25.6 60% – 70% 2,098,581 23.8 2,072,965 28.7 70% – 80% 317,950 3.6 599,743 8.3 80% – 90% 182,112 2.0 209,957 2.9 90% – 100% 13,242 0.2 13,426 0.2 Greater than 100% — — 32,022 0.4 Total $ 8,825,418 100.0 % $ 7,217,169 100.0 %
Debt Service Coverage Ratio	The debt service coverage ratio as of December 31 is shown below: 2015 2014 Debt service coverage ratio: Greater than 1.4x $ 6,884,063 5,204,622 1.2x – 1.4x 1,418,724 1,208,043 1.0x – 1.2x 359,399 656,376 Less than 1.0x 163,232 148,128 Total commercial mortgage loans $ 8,825,418 7,217,169
Nontrade Receivables and Allowance for Credit Losses	The nontrade receivable and allowance for credit losses by customer classification as of December 31 are shown below: 2015 2014 Agent Reinsurer Total Agent Reinsurer Total Nontrade receivables $ 6,976 23,581 30,557 6,835 25,127 31,962 Allowance for credit losses (5,525 ) — (5,525 ) (4,981 ) (1,505 ) (6,486 ) Net nontrade receivables $ 1,451 23,581 25,032 1,854 23,622 25,476
Aging Analysis of Past Due Financing Receivables	Aging analysis of past-due 31–60 days 61–90 days Greater than Total past due Current (1) Total 2015: Mortgage loans $ — — — — 8,825,418 8,825,418 Nontrade receivables 6,893 1,796 5,629 14,318 16,239 30,557 Loans to affiliates — — — — 33,000 33,000 Loans to non-affiliates 60 — — 60 11,281 11,341 Total $ 6,953 1,796 5,629 14,378 8,885,938 8,900,316 31–60 days 61–90 days Greater than Total Current (1) Total 2014: Mortgage loans $ — — — — 7,217,169 7,217,169 Nontrade receivables 3,794 2,533 7,021 13,348 18,614 31,962 Loans to non-affiliates — — — — 30,335 30,335 Total $ 3,794 2,533 7,021 13,348 7,266,118 7,279,466

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Goodwill	Goodwill at December 31, 2015 and 2014, and the changes in the balance for the years then ended are as follows: 2015 2014 Balance, beginning of year $ 482,905 484,401 Reduction in goodwill due to sale of minority interest (1) — (1,496 ) Balance, end of year $ 482,905 482,905 (1) See further discussion regarding the sale of the minority interest in Footnote 17.

Value of Business Acquired an43

Value of Business Acquired and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Value of Business Acquired and Changes in the Balance	VOBA at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ — — — Interest 210 314 439 Amortization (2,950 ) (3,479 ) (4,327 ) Change in shadow VOBA 2,740 3,165 3,888 Balance, end of year $ — — —
Net Amortization of Value of Business Acquired	The net amortization of the VOBA in each of the next five years is expected to be as follows: 2016 $ 2,025 2017 1,120 2018 919 2019 392 2020 —
Intangible Assets	Intangible assets at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 2,050 2,120 3,271 Amortization — (70 ) (1,151 ) Transfer to held-for-sale (2,050 ) — — Balance, end of year $ — 2,050 2,120

Deferred Acquisition Costs (Tab

Deferred Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Acquisition Costs	DAC at December 31 and the changes in the balance for the years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 4,362,771 4,820,215 2,603,307 Capitalization 911,425 1,349,236 812,006 Interest 181,239 177,754 186,157 Amortization (1,331,923 ) (853,904 ) (1,204,862 ) Change in shadow DAC 2,159,724 (1,130,530 ) 2,423,607 Balance, end of year $ 6,283,236 4,362,771 4,820,215
Pretax Impact on Assets and Liabilities as Result of Unlocking	The pretax impact on the Company’s assets and liabilities as a result of the unlocking during 2015, 2014, and 2013 is as follows: 2015 2014 2013 Assets: DAC $ (109,797 ) (5,294 ) (82,082 ) DSI (32,400 ) (8,673 ) (20,860 ) VOBA (180 ) (120 ) 116 Reinsurance Recoverables and Receivables 5,471 117 57 Total decrease in assets (136,906 ) (13,970 ) (102,769 ) Liabilities: Account balances and future policy benefit reserves (154,064 ) (38,177 ) (224,023 ) Unearned premiums (48,369 ) (1,968 ) 2,445 Total decrease in liabilities (202,433 ) (40,145 ) (221,578 ) Net increase 65,527 26,175 118,809 Deferred income tax expense 22,934 9,161 41,583 Net increase $ 42,593 17,014 77,226

Deferred Sales Inducements (Tab

Deferred Sales Inducements (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Deferred Sales Inducement	DSI at December 31 and the changes in the balance for years then ended are as follows: 2015 2014 2013 Balance, beginning of year $ 847,000 1,076,530 673,944 Capitalization 48,546 143,717 131,127 Amortization (284,883 ) (183,504 ) (242,605 ) Interest 33,927 35,528 38,936 Change in shadow DSI 465,602 (225,271 ) 475,128 Balance, end of year $ 1,110,192 847,000 1,076,530

Separate Accounts and Annuity46

Separate Accounts and Annuity Product Guarantees (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Guaranteed Minimums	Guaranteed minimums for the respective years ended December 31 are summarized as follows (note that the amounts listed are not mutually exclusive, as many products contain multiple guarantees): 2015 2014 Account value Net amount at risk Weighted Account value Net amount Weighted age GMDB: Return of premium $ 22,106,973 144,789 63.4 $ 22,885,613 38,798 62.9 Ratchet and return of premium 4,799,853 265,614 67.1 5,297,482 70,239 66.5 Ratchet and rollup 3,756,726 590,255 70.2 4,413,506 417,237 69.6 Ratchet and earnings protection rider 3,006 1,105 83.2 3,960 1,443 81.0 Reset 88,037 1,422 75.7 102,983 677 74.8 Earnings protection rider 244,262 21,146 68.1 282,696 27,661 67.3 Total $ 30,998,857 1,024,331 $ 32,986,240 556,055 GMIB: Return of premium $ 103,455 390 71.7 $ 123,495 809 71.0 Ratchet and return of premium 2,128,810 39,990 69.4 2,589,470 6,775 68.4 Ratchet and rollup 4,921,715 894,936 66.7 5,801,655 637,535 65.9 Total $ 7,153,980 935,316 $ 8,514,620 645,119 GMAB: Five years $ 3,125,235 75,278 68.8 $ 3,858,091 13,503 67.9 Ten years 3,144 1 81.2 4,231 16 80.0 Target date retirement-7 year 685,742 26,416 63.2 791,444 4,733 62.4 Target date retirement-10 271,947 17,557 59.8 295,251 1,457 58.9 Target date with management levers 3,361,471 189,196 61.3 3,583,692 28,717 60.5 Total $ 7,447,539 308,449 $ 8,532,709 48,426 GMWB: No living benefit $ 689,570 — 68.5 $ 620,033 — 68.8 Life benefit with optional reset 951,084 182,920 68.1 1,086,720 123,933 67.4 Life benefit with automatic reset 1,498,005 205,492 64.4 1,661,153 97,192 63.6 Life benefit with 8% rollup 30,070 6,520 69.1 34,001 3,691 68.3 Life benefit with 10% rollup 1,138,409 338,886 63.8 1,248,797 219,842 63.0 Life benefit with management levers 11,283,267 2,054,036 60.7 11,304,113 936,479 60.2 Total $ 15,590,405 2,787,854 $ 15,954,817 1,381,137
Variable Annuity Account Balances Invested In Separate Account	At December 31, variable annuity account balances were invested in separate account funds with the following investment objectives. Balances are presented at fair value: Investment type 2015 2014 Mutual funds: Bond $ 3,447,255 3,712,198 Domestic equity 14,225,576 15,438,301 International equity 1,473,393 1,807,570 Specialty 8,362,991 9,062,822 Total mutual funds 27,509,215 30,020,891 Money market funds 655,648 677,571 Other 78,260 90,909 Total $ 28,243,123 30,789,371
Summary of Liabilities for Variable Contract Guarantees	The following table summarizes the liabilities for variable contract guarantees that are reflected in the general account and shown in Account balances and future policy benefit reserves on the Consolidated Balance Sheets: GMDB GMIB GMAB GMWB Totals Balance as of December 31, 2013 $ 67,937 166,333 107,973 45,772 388,015 Incurred guaranteed benefits 28,860 (8,003 ) 166,427 1,445,508 1,632,792 Paid guaranteed benefits (10,375 ) (5,551 ) (9,543 ) — (25,469 ) Balance as of December 31, 2014 86,422 152,779 264,857 1,491,280 1,995,338 Incurred guaranteed benefits 24,238 34,835 122,095 679,259 860,427 Paid guaranteed benefits (13,633 ) (11,149 ) (12,095 ) — (36,877 ) Balance as of December 31, 2015 $ 97,027 176,465 374,857 2,170,539 2,818,888

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Future Principal Payments	The future principal payments required under the loan are as follows: 2016 $ 7,844 2017 8,288 2018 8,758 2019 9,254 2020 9,778 2021 and beyond 40,839 Total $ 84,761

Accident and Health Claim Res48

Accident and Health Claim Reserves (Tables)	12 Months Ended
	Dec. 31, 2015
Activity in Accident and Health Claim Reserves	Activity in the accident and health claim reserves is summarized as follows: 2015 2014 2013 Balance at January 1, net of reinsurance recoverables of $283,252, $259,829, and $221,718, respectively $ 135,168 127,405 107,410 Adjustment primarily related to commutation and assumption reinsurance on blocks of business 323 (35 ) (70 ) Incurred related to: Current year 71,378 60,474 54,096 Prior years (4,275 ) (11,243 ) 5,359 Total incurred 67,103 49,231 59,455 Paid related to: Current year 4,331 3,677 3,519 Prior years 40,942 37,756 35,871 Total paid 45,273 41,433 39,390 Balance at December 31, net of reinsurance recoverables of $340,048, $283,252, and $259,829, respectively $ 157,321 135,168 127,405

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax (Benefit) Expense	Total income tax (benefit) expense for the years ended December 31 is as follows: 2015 2014 2013 Income tax expense (benefit) attributable to operations: Current tax expense $ 551,052 265,586 42,854 Deferred tax (benefit) expense (307,986 ) (240,863 ) 160,438 Total income tax expense (benefit) attributable to net income 243,066 24,723 203,292 Income tax effect on equity: Income tax (benefit) expense allocated to stockholder’s equity: Attributable to unrealized (losses) gains on investments (691,519 ) 418,073 (661,574 ) Attributable to unrealized (losses) gains on postretirement obligation — — (127 ) Attributable to unrealized (losses) gains on foreign exchange (2,159 ) (1,132 ) (889 ) Total income tax effect on equity $ (450,612 ) 441,664 (459,298 )
Income Tax (Benefit) Expense Computed at the Statutory Rate	Income tax expense (benefit) computed at the statutory rate of 35% varies from Income tax expense (benefit) reported on the Consolidated Statements of Operations for the respective years ended December 31 as follows: 2015 2014 2013 Income tax expense (benefit) computed at the statutory rate $ 295,177 63,066 260,567 Dividends-received deductions and tax-exempt interest (40,687 ) (27,849 ) (32,037 ) State income tax 4,642 4,106 (2,049 ) Release AZLPF tax — — (5,829 ) (Release) Accrual of tax contingency reserve (10,701 ) 2,180 2,571 Foreign tax, net (3,143 ) (3,202 ) (12,209 ) Corporate-owned life insurance (2,285 ) (7,806 ) (12,933 ) Penalties 529 (6,174 ) 6,376 Other (466 ) 402 (1,165 ) Income tax expense (benefit) as reported $ 243,066 24,723 203,292
Significant Components of Net Deferred Tax Asset (Liability)	Tax effects of temporary differences giving rise to the significant components of the net deferred tax asset (liability). Net deferred tax asset (liability) on the Consolidated Balance Sheets at December 31 are as follows: 2015 2014 Deferred tax assets: Policy reserves $ 3,219,849 2,847,620 Expense accruals 47,412 144,197 Other-than-temporarily impaired assets 20,961 13,352 Provision for postretirement benefits 34,072 31,190 Other 6,898 2,102 Total deferred tax assets 3,329,192 3,038,461 Deferred tax liabilities: Deferred acquisition costs (1,948,643 ) (1,086,964 ) Investment income (230,228 ) (159,754 ) Depreciation and amortization (55,351 ) (51,311 ) Deferred intercompany gain — (3,187 ) Net unrealized gains on investments and foreign exchange (551,999 ) (2,196,751 ) Total deferred tax liabilities (2,786,221 ) (3,497,967 ) Net deferred tax asset (liability) $ 542,971 (459,506)
Reconciliation of Unrecognized Tax Benefits	Reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2015 2014 Balance at January 1 $ 59,103 70,174 Additions based on tax positions related to the current year 359 509 Amounts released related to tax positions taken in prior years (58,095 ) (11,580 ) Balance at December 31 $ 1,367 59,103

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Future Minimum Lease Payments Required under Operating Leases	The future minimum lease payments required under operating leases are as follows: 2016 $ 2,130 2017 1,993 2018 1,742 2019 1,230 2020 838 2021 and beyond 283 $ 8,216

Capital Structure (Tables)

Capital Structure (Tables)	12 Months Ended
	Dec. 31, 2015
Category of Capital Stock Issued	The Company is authorized to issue three types of capital stock, as outlined in the table below: Authorized, Voluntary or issued, and Par value, involuntary outstanding per share Redemption rights liquidation rights Common stock 40,000,000 $ 1.00 None None 20,000,001 20,000,001 Preferred stock: Class A 200,000,000 $ 1.00 Designated by Board Designated by Board 18,903,484 for each series issued for each series issued 18,903,484 Class A, Series A 8,909,195 1.00 $35.02 per share plus $35.02 per share plus 8,909,195 an amount to yield a an amount to yield a 8,909,195 compounded annual compounded annual return of 6%, after return of 6%, after actual dividends paid actual dividends paid Class A, Series B 10,000,000 1.00 $35.02 per share plus $35.02 per share plus 9,994,289 an amount to yield a an amount to yield a 9,994,289 compounded annual compounded annual return of 6%, after return of 6%, after actual dividends paid actual dividends paid Class B 400,000,000 1.00 Designated by Board Designated by Board for each series issued for each series issued

Foreign Currency Translation (T

Foreign Currency Translation (Tables)	12 Months Ended
	Dec. 31, 2015
Foreign Currency Translation, Net of Tax	An analysis of foreign currency translation, net of tax for the respective years ended December 31 is as follows: 2015 2014 2013 Beginning amount of cumulative translation adjustments $ 10,240 12,343 13,993 Aggregate adjustment for the period resulting from translation adjustments (6,168 ) (3,235 ) (2,539 ) Amount of income tax expense for the period related to aggregate adjustment 2,159 1,132 889 Net aggregate translation included in equity (4,009 ) (2,103 ) (1,650 ) Ending amount of cumulative translation adjustments $ 6,231 10,240 12,343 Canadian foreign exchange rate at end of year 0.71989 0.86337 0.94120

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Reconciliation of Unconsolidated Segment Results to Consolidated Statement of Operations	Unconsolidated segment results are reconciled to the Consolidated Statements of Operations amounts in the tables below: Year ended December 31, 2015 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,133,285 172,660 — 143,646 — 1,449,591 Interest and similar income, net 4,004,121 103,419 3 72,560 — 4,180,103 Change in fair value of assets and liabilities (492,479 ) (38,553 ) — (1,688 ) — (532,720 ) Realized investment gains, net 90,948 1,597 — 1,868 — 94,413 Fee, commission, and other revenue 236,454 186 105,830 253 (39,324 ) 303,399 Total revenue (loss) 4,972,329 239,309 105,833 216,639 (39,324 ) 5,494,786 Benefits and expenses: Net benefits and expenses 2,296,057 114,377 — 192,660 — 2,603,094 General and administrative and commission 1,554,120 165,479 110,624 18,172 (39,324 ) 1,809,071 Change in deferred acquisition costs, net 279,582 (53,642 ) — 13,319 — 239,259 Total benefits and expenses 4,129,759 226,214 110,624 224,151 (39,324 ) 4,651,424 Pretax income (loss) $ 842,570 13,095 (4,791) (7,512 ) — 843,362 Year ended December 31, 2014 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,148,803 117,950 — 141,344 — 1,408,097 Interest and similar income, net 3,799,849 90,088 (17 ) 67,378 — 3,957,298 Change in fair value of assets and liabilities 1,805,611 41,292 — (4,914 ) — 1,841,989 Realized investment gains, net 74,926 1,579 1 1,256 — 77,762 Fee, commission, and other revenue 246,021 474 102,234 6,217 (43,126 ) 311,820 Total revenue (loss) 7,075,210 251,383 102,218 211,281 (43,126 ) 7,596,966 Benefits and expenses: Net benefits and expenses 5,582,740 147,348 — 145,737 — 5,875,825 General and administrative and commission 1,964,597 162,973 111,967 17,628 (43,126 ) 2,214,039 Change in deferred acquisition costs, net (615,902 ) (72,109 ) — 14,925 — (673,086 ) Total benefits and expenses 6,931,435 238,212 111,967 178,290 (43,126 ) 7,416,778 Pretax income (loss) $ 143,775 13,171 (9,749 ) 32,991 — 180,188 Year ended December 31, 2013 Individual Legacy annuities Life Questar products Eliminations Consolidated Revenue: Net premiums and policy fees $ 1,050,072 104,715 — 133,586 — 1,288,373 Interest and similar income, net 3,464,951 71,125 (16 ) 56,057 — 3,592,117 Change in fair value of assets and liabilities 843,121 77,920 — 224 — 921,265 Realized investment gains, net 172,940 2,227 8 13,122 — 188,297 Fee, commission, and other revenue 239,692 583 93,485 6,207 (33,188 ) 306,779 Total revenue (loss) 5,770,776 256,570 93,477 209,196 (33,188) 6,296,831 Benefits and expenses: Net benefits and expenses 3,378,366 180,923 — 144,730 — 3,704,019 General and administrative and commission 1,408,107 136,417 110,633 19,666 (33,188 ) 1,641,635 Change in deferred acquisition costs, net 264,068 (71,632 ) — 14,263 — 206,699 Total benefits and expenses 5,050,541 245,708 110,633 178,659 (33,188 ) 5,552,353 Pretax income (loss) $ 720,235 10,862 (17,156) 30,537 — 744,478

Changes in and Reclassificati54

Changes in and Reclassifications from Accumulated Other Comprehensive Income (AOCI) (Tables)	12 Months Ended
	Dec. 31, 2015
Changes In AOCI By Component	Changes in AOCI, net of tax, by component consist of the following: Year ended December 31, 2015 Net unrealized OTTI Net gain Foreign Pension and Total AOCI Beginning balance $ 1,755,998 9,608 1,475 10,240 (176 ) 1,777,145 OCI before reclassifications (1,260,909 ) (2,958 ) 8,933 (4,009 ) 95 (1,258,848 ) Amounts reclassified from AOCI (27,766 ) (1,597 ) — — 16 (29,347 ) Net OCI (1,288,675 ) (4,555 ) 8,933 (4,009 ) 111 (1,288,195 ) Ending balance $ 467,323 5,053 10,408 6,231 (65 ) 488,950 Year ended December 31, 2014 Net unrealized OTTI Net gain Foreign Pension and Total AOCI Beginning balance $ 980,777 8,814 1,020 12,343 (170 ) 1,002,784 OCI before reclassifications 825,079 3,114 455 (2,103 ) (25 ) 826,520 Amounts reclassified from AOCI (49,858 ) (2,320 ) — — 19 (52,159 ) Net OCI 775,221 794 455 (2,103 ) (6 ) 774,361 Ending balance $ 1,755,998 9,608 1,475 10,240 (176 ) 1,777,145
Reclassifications From AOCI	Reclassifications from AOCI, net of tax, consist of the following: Amount Reclassified from AOCI Affected line item December 31, in the Consolidated AOCI 2015 2014 Statements of Operations Net unrealized gain on securities: Available-for-sale securities $ 42,717 76,705 Realized investment gains, net 14,951 26,847 Income tax expense (benefit) 27,766 49,858 Net income OTTI gain (losses) in OCI: Other than temporary impairments 2,457 3,569 Realized investment gains, net 860 1,249 Income tax expense (benefit) 1,597 2,320 Net income Pension and other postretirement plan adjustments: Amortization of actuarial gains (losses) (25 ) (29 ) General and administrative expenses 9 (10 ) Income tax expense (benefit) (16 ) (19 ) Net income Total amounts reclassified from AOCI $ 29,347 52,159 Total net income

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
fixed-indexed annuities
Organization and Nature of Operations [Line Items]
Percentage of net premium written	81.00%
Variable annuity
Organization and Nature of Operations [Line Items]
Percentage of net premium written	13.00%
Variable-indexed annuities
Organization and Nature of Operations [Line Items]
Percentage of net premium written	6.00%
Annuities
Organization and Nature of Operations [Line Items]
Percentage of net premium written	94.00%
Life
Organization and Nature of Operations [Line Items]
Percentage of net premium written	5.00%
Accident and health
Organization and Nature of Operations [Line Items]
Percentage of net premium written	1.00%

Summary Of Significant Accoun56

Summary Of Significant Accounting Policies - Additional Information (Detail)	1 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2014USD ($)Investment	Dec. 31, 2014USD ($)Investment	Dec. 31, 2015USD ($)Investment	Dec. 31, 2014USD ($)Investment	Dec. 31, 2013USD ($)
Significant Accounting Policies [Line Items]
Deferred acquisition costs, amortization period			20 years
Intangible assets, amortization period			5 years
Traditional life products, life reserve interest assumptions range, minimum			2.30%
Traditional life products, life reserve interest assumptions range, maximum			6.00%
LTC reserve interest assumptions range			5.00%
LTC reserve interest assumptions range			6.00%
Fair value of equity securities, percentage below average cost at the end of quarter to be considered other-than-temporarily impaired			20.00%
Property and equipment, net of accumulated depreciation	$ 190,129,000	$ 190,129,000	$ 189,065,000	$ 190,129,000
Property and equipment, accumulated depreciation	159,380,000	159,380,000	85,899,000	$ 159,380,000
Disposed property and equipment, net of accumulated depreciation			80,289,000
Disposed property and equipment, accumulated depreciation			80,289,000
Gain (loss) on disposition of property and equipment			0
Assets held-for-sale recorded in other assets			12,436,000
Liabilities held-for-sale recorded in other liabilities			3,223,000
Increase in statutory surplus due to adopted accounting practice			$ 125,317,000
Annuity policies issued prior to 2010
Significant Accounting Policies [Line Items]
Change in income from operation before income taxes		$ (165,790,000)
Annuity policies issued after 2010
Significant Accounting Policies [Line Items]
Change in income from operation before income taxes	$ (45,623,000)
Guaranteed Minimum Death Benefit and Guaranteed Minimum Income Benefit
Significant Accounting Policies [Line Items]
Stochastically generated investment performance scenarios | Investment	100	100	100	100
Mean investment performance assumption	6.50%	6.50%	6.50%	6.50%
Volatility assumption	13.40%	13.40%	13.40%	13.40%
Mortality assumption			87% of the Annuity	90% of the Annuity
Lapse rates, spike rates	40.00%	40.00%	40.00%	40.00%
Lapse rates, ultimate rate	15.00%	15.00%	15.00%	15.00%
Description of discount rates			Discount rates vary by contract type and equal an assumed long-term investment return (6.5%), less the applicable mortality and expense rate.	Discount rates vary by contract type and equal an assumed long-term investment return (6.5%), less the applicable mortality and expense rate.
Guaranteed Minimum Accumulation And Withdrawal Benefit
Significant Accounting Policies [Line Items]
Stochastically generated investment performance scenarios | Investment	1,000	1,000	1,000	1,000
Mortality assumption			87% of the Annuity	90% of the Annuity
Lapse rates, spike rates	40.00%	40.00%	40.00%	40.00%
Lapse rates, ultimate rate	15.00%	15.00%	15.00%	15.00%
Volatility assumption period			1 year	1 year
Guaranteed Minimum Death Benefit
Significant Accounting Policies [Line Items]
Cap rate of premium			150.00%
Guaranteed Minimum Death Benefit | With no cap
Significant Accounting Policies [Line Items]
Rollup interest rates			5.00%
Guaranteed Minimum Death Benefit | With a cap of 150% of premium
Significant Accounting Policies [Line Items]
Rollup interest rates			3.00%
Minimum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life			3 years
Fair value of securities loaned to be maintained as collateral			102.00%
Maximum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life			7 years
Preoperating and start-up costs
Significant Accounting Policies [Line Items]
Amortization of capitalized cost			$ 2,275,000	$ 2,275,000	$ 2,275,000
Amortization cost of company headquarter			$ 2,118,000	$ 2,115,000	$ 2,104,000
Buildings
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life			39 years

Market Volatility Assumption Va

Market Volatility Assumption Varies by Fund Type and Grades from a Current Volatility to Long-Term Assumption (Detail) - Guaranteed Minimum Accumulation And Withdrawal Benefit	Dec. 31, 2015	Dec. 31, 2014
Large Cap
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	17.60%	16.60%
Large Cap | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	18.10%	18.20%
Bonds
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	3.40%	3.40%
Bonds | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	3.90%	3.90%
International
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	17.90%	16.30%
International | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	23.10%	23.70%
Small Cap
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	20.80%	21.30%
Small Cap | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Volatility assumption	21.30%	21.20%

Amortized Cost or Cost, Gross U

Amortized Cost or Cost, Gross Unrealized Gains, Gross Unrealized Losses, and Fair Values of Available-For-Sale and Held-To-Maturity Securities (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		$ 79,180,533	$ 72,953,379
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		3,667,435	6,572,785
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		2,113,500	314,379
Total fixed-maturity securities, available-for-sale, Fair value		80,734,468	79,211,785
Total fixed-maturity securities, available-for-sale, OTTI in accumulated other comprehensive income	[1]	7,774	14,782
Total fixed-maturity securities, held-to-maturity, Amortized cost of cost		55	180,398
Total fixed-maturity securities, held-to-maturity, Gross unrealized gains		5,224	24,091
Total fixed-maturity securities, held-to-maturity, Gross unrealized losses		0	0
Total fixed-maturity securities, held-to-maturity, Fair value		5,279	204,489
Total fixed-maturity securities, held-to-maturity, OTTI in accumulated other Comprehensive income	[1]	0	0
Equity securities amortized cost		71,005	6,180
Equity securities fair value		68,611	6,226
Available for sale and held-to-maturity securities, Amortized cost or cost		79,251,593	73,139,957
Available for sale and held-to-maturity securities, gross unrealized gains		3,672,659	6,596,922
Available for sale and held-to-maturity securities, gross unrealized losses		2,115,894	314,379
Available for sale and held-to-maturity securities, fair value		80,808,358	79,422,500
Available for sale and held-to-maturity securities, OTTI in accumulated other comprehensive income	[1]	7,774	14,782
Common stock
Schedule of Available-for-sale Securities [Line Items]
Equity securities amortized cost		71,005	6,180
Equity securities gross unrealized gain			46
Equity securities gross unrealized losses		2,394
Equity securities fair value		68,611	6,226
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		50,603,848	45,725,053
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		2,275,966	4,067,245
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		1,933,329	294,841
Total fixed-maturity securities, available-for-sale, Fair value		50,946,485	49,497,457
Total fixed-maturity securities, available-for-sale, OTTI in accumulated other comprehensive income	[1]	(4,640)	2,579
Total fixed-maturity securities, held-to-maturity, Amortized cost of cost		55	82
Total fixed-maturity securities, held-to-maturity, Gross unrealized gains		10	15
Total fixed-maturity securities, held-to-maturity, Gross unrealized losses		0	0
Total fixed-maturity securities, held-to-maturity, Fair value		65	97
Total fixed-maturity securities, held-to-maturity, OTTI in accumulated other Comprehensive income	[1]	0	0
Collateralized debt obligations
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		9,738	33,637
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		11,573	11,745
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		147	153
Total fixed-maturity securities, available-for-sale, Fair value		21,164	45,229
Total fixed-maturity securities, available-for-sale, OTTI in accumulated other comprehensive income	[1]	11,572	11,719
Total fixed-maturity securities, held-to-maturity, Amortized cost of cost			180,316
Total fixed-maturity securities, held-to-maturity, Gross unrealized gains		5,214	24,076
Total fixed-maturity securities, held-to-maturity, Gross unrealized losses		0	0
Total fixed-maturity securities, held-to-maturity, Fair value		5,214	204,392
Total fixed-maturity securities, held-to-maturity, OTTI in accumulated other Comprehensive income	[1]	0	0
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		1,682,642	1,127,783
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		78,089	105,433
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		5,407	262
Total fixed-maturity securities, available-for-sale, Fair value		1,755,324	1,232,954
Total fixed-maturity securities, available-for-sale, OTTI in accumulated other comprehensive income	[1]	653
Agencies not backed by the full faith and credit of the U.S. government
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		10,474	130,703
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		91	14,671
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		51	24
Total fixed-maturity securities, available-for-sale, Fair value		10,514	145,350
States and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		8,533,503	6,718,229
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		514,459	824,806
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		49,428	2,093
Total fixed-maturity securities, available-for-sale, Fair value		8,998,534	7,540,942
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		269,608	308,633
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		9,675	13,505
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		7,116	10,463
Total fixed-maturity securities, available-for-sale, Fair value		272,167	311,675
Public utilities
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		5,798,475	5,482,698
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		480,099	851,165
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		56,376	5,614
Total fixed-maturity securities, available-for-sale, Fair value		6,222,198	6,328,249
Total fixed-maturity securities, available-for-sale, OTTI in accumulated other comprehensive income	[1]	189	484
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		12,263,037	13,415,946
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		296,408	682,880
Total fixed-maturity securities, available-for-sale, Gross unrealized losses		61,646	929
Total fixed-maturity securities, available-for-sale, Fair value		12,497,799	14,097,897
Collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Total available-for-sale fixed-maturity securities, amortized cost		9,208	10,697
Total fixed-maturity securities, available-for-sale, Gross unrealized gains		1,075	1,335
Total fixed-maturity securities, available-for-sale, Fair value		$ 10,283	$ 12,032
[1]	(1) The amount represents the subsequent changes in net unrealized gain or loss on other-than-temporarily impaired securities. It includes the portion of OTTI losses in accumulated other comprehensive income, which was not included in earnings.

Net Unrealized Gains On Availab

Net Unrealized Gains On Available-For-Sale Securities and Effective Portion Of Cash Flow Hedges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Held-for-sale securities	$ 798
Net unrealized gains	482,784	$ 1,767,081	$ 990,611
Fixed-maturity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities	1,553,935	6,258,406	3,697,314
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities	(2,394)	46
Cash flow hedges
Schedule of Available-for-sale Securities [Line Items]
Cash flow hedges	16,013	2,269	1,570
Shadow
Schedule of Available-for-sale Securities [Line Items]
Shadow adjustments	(825,607)	(3,542,160)	(2,174,866)
Deferred taxes
Schedule of Available-for-sale Securities [Line Items]
Deferred taxes	$ (259,961)	$ (951,480)	$ (533,407)

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available for Sale Fixed Maturity Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale fixed-maturity securities, amortized cost
Due in one year or less, amortized cost	$ 1,686,024
Due after one year through five years, amortized cost	12,759,691
Due after five years through ten years, amortized cost	19,854,889
Due after ten years, amortized cost	32,607,684
Mortgage-backed securities and collateralized mortgage obligations, amortized cost	12,272,245
Total available-for-sale fixed-maturity securities, amortized cost	79,180,533	$ 72,953,379
Available-for-sale fixed-maturity securities, fair value
Due in one year or less, fair value	1,714,562
Due after one year through five years, fair value	13,454,444
Due after five years through ten years, fair value	19,656,047
Due after ten years, fair value	33,401,333
Mortgage-backed securities and collateralized mortgage obligations, fair value	12,508,082
Total available-for-sale fixed-maturity securities, fair value	$ 80,734,468	$ 79,211,785

Amortized Cost and Fair Value61

Amortized Cost and Fair Value of Held-to-Maturity Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Held-to-maturity fixed-maturity securities, amortized cost
Due after one year through five years, amortized cost	$ 55
Due after ten years, amortized cost	0
Total fixed-maturity securities, held-to-maturity, Amortized cost of cost	55	$ 180,398
Held-to-maturity fixed-maturity securities, fair value
Due after one year through five years, fair value	65
Due after ten years, fair value	5,214
Total held-to-maturity fixed-maturity securities, fair value	$ 5,279	$ 204,489

Investments - Additional Inform

Investments - Additional Information (Detail)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)Investment	Dec. 31, 2014USD ($)Investment	Dec. 31, 2013USD ($)
Schedule of Investments [Line Items]
Amortized cost of fixed-maturity securities with rights to call or prepay without penalty		$ 26,148,167,000
Carrying value of investments held on deposit with various insurance departments and in other trusts		$ 45,393,000	$ 52,027,000
Available-for-sale investment holdings that were in an unrealized loss position for fixed-maturity securities | Investment		1,294	356
Realized gain on exchanges		$ 31,832,000	$ 0	$ 44,179,000
Mortgage loan on real estate		$ 8,788,018,000	7,182,169,000
Interest rates on investments in new mortgage loans, minimum range		3.30%
Interest rates on investments in new mortgage loans, maximum range		4.80%
Non-consolidated VIE liabilities		$ 0	0
Realized investment gain upon initial consolidation		31,832,000
Acquired loans		224,083,000	201,268,000
Available-for-sale, at fair value		80,734,468,000	79,211,785,000
Notes payable		84,761,000	92,184,000
Other liabilities		4,240,504,000	3,278,054,000
Fixed-maturity securities
Schedule of Investments [Line Items]
Fair value of securities on loan		2,392,657,000	2,280,442,000
Cash and Cash Equivalents
Schedule of Investments [Line Items]
Collateral held		$ 2,480,996,000	$ 2,361,952,000
CALIFORNIA | Mortgage Loans on Real Estate
Schedule of Investments [Line Items]
Mortgage loan on real estate, concentration level		27.70%	29.20%
Mortgage loan on real estate		$ 2,448,008,000	$ 2,108,890,000
TEXAS | Mortgage Loans on Real Estate
Schedule of Investments [Line Items]
Mortgage loan on real estate, concentration level			10.10%
Mortgage loan on real estate			$ 729,761,000
ILLINOIS | Mortgage Loans on Real Estate
Schedule of Investments [Line Items]
Mortgage loan on real estate, concentration level		11.60%	10.00%
Mortgage loan on real estate		$ 1,025,605,000	$ 722,225,000
Variable Interest Entity, Primary Beneficiary [Member]
Schedule of Investments [Line Items]
Available-for-sale, at fair value		26,941,000
Preferred stock
Schedule of Investments [Line Items]
Other liabilities		32,195,000	32,195,000
Collateralized debt obligations
Schedule of Investments [Line Items]
Realized gain on exchanges				44,179,000
Net assets	$ 158,804,000
Assets purchased by the Company	96,046,000
Available-for-sale, at fair value		21,164,000	45,229,000
Cash received for securities				253,125,000
Securities book value				208,946,000
Collateralized debt obligations | Variable Interest Entity, Primary Beneficiary [Member]
Schedule of Investments [Line Items]
Liquidated assets at auction	$ 163,389,000
Acquired loans		44,527,000
Available-for-sale, at fair value		12,611,000
Mortgage Loans on Real Estate
Schedule of Investments [Line Items]
Provision (benefit) charged to operations		2,400,000	(5,000,000)	(18,500,000)
Release due to discounted payoff		0	26,750,000	0
Mortgage Loans on Real Estate | Change in Estimate
Schedule of Investments [Line Items]
Provision (benefit) charged to operations				(13,500,000)
Mortgage Loans on Real Estate | Reevaluation of Allowance
Schedule of Investments [Line Items]
Provision (benefit) charged to operations				$ (5,000,000)
Junior tranche Notes
Schedule of Investments [Line Items]
Notes payable		2,789,000
External Credit Rating, Investment Grade
Schedule of Investments [Line Items]
Unrealized gain loss on investment grade securities		$ 1,773,647,000	$ 267,015,000
Percentage of unrealized loss		83.90%	84.90%

Proceeds from Sale of Available

Proceeds from Sale of Available-for-Sale and Trading Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fixed-maturity securities
Available-for-sale:
Proceeds from sales	$ 996,801	$ 1,479,188	$ 2,503,974
Equity securities
Available-for-sale:
Proceeds from sales	$ 58,858	$ 29,209	$ 134,400

Unrealized Losses on Available-

Unrealized Losses on Available-for-Sale Securities and Related Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	$ 23,276,019	$ 4,481,995
Unrealized losses, 12 months or less	1,432,201	227,060
Fair value, greater than 12 months	1,741,183	1,444,158
Unrealized losses, greater than 12 months	681,299	87,319
Fair value, total	25,017,202	5,926,153
Unrealized losses, total	2,113,500	314,379
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	600,970	23,411
Unrealized losses, 12 months or less	5,395	51
Fair value, greater than 12 months	4,959	23,481
Unrealized losses, greater than 12 months	12	211
Fair value, total	605,929	46,892
Unrealized losses, total	5,407	262
US Government Agency
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	4,536	3,342
Unrealized losses, 12 months or less	51	24
Fair value, greater than 12 months	0	0
Unrealized losses, greater than 12 months	0	0
Fair value, total	4,536	3,342
Unrealized losses, total	51	24
States and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	1,873,125	51,483
Unrealized losses, 12 months or less	48,306	599
Fair value, greater than 12 months	28,015	146,339
Unrealized losses, greater than 12 months	1,122	1,494
Fair value, total	1,901,140	197,822
Unrealized losses, total	49,428	2,093
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	42,338	66,859
Unrealized losses, 12 months or less	1,787	10,463
Fair value, greater than 12 months	32,219	0
Unrealized losses, greater than 12 months	5,329	0
Fair value, total	74,557	66,859
Unrealized losses, total	7,116	10,463
Public utilities
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	1,319,479	129,018
Unrealized losses, 12 months or less	50,552	3,589
Fair value, greater than 12 months	20,454	35,919
Unrealized losses, greater than 12 months	5,824	2,025
Fair value, total	1,339,933	164,937
Unrealized losses, total	56,376	5,614
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	16,369,002	4,101,602
Unrealized losses, 12 months or less	1,265,080	211,776
Fair value, greater than 12 months	1,639,373	1,198,903
Unrealized losses, greater than 12 months	668,249	83,065
Fair value, total	18,008,375	5,300,505
Unrealized losses, total	1,933,329	294,841
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	3,066,569	102,104
Unrealized losses, 12 months or less	61,030	491
Fair value, greater than 12 months	15,433	19,724
Unrealized losses, greater than 12 months	616	438
Fair value, total	3,082,002	121,828
Unrealized losses, total	61,646	929
Collateralized debt obligations
Schedule of Available-for-sale Securities [Line Items]
Fair value,12 months or less	0	4,176
Unrealized losses, 12 months or less	0	67
Fair value, greater than 12 months	730	19,792
Unrealized losses, greater than 12 months	147	86
Fair value, total	730	23,968
Unrealized losses, total	$ 147	$ 153

Cumulative Credit Impairments o

Cumulative Credit Impairments on Fixed-maturity Securities (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Other Than Temporary Impairment Losses Recognized [Line Items]
Beginning Balance		$ 36,948	$ 45,722
Additions for credit impairments recognized on:
Securities not previously impaired	[1]	536	0
Securities previously impaired	[1]	1,086	4,391
Securities that the Company intends to sell or more likely than not be required to sell before recovery (interest)	[1]	57,353	2,054
Reductions for credit impairments previously on:
Securities that matured, were sold, or were liquidated during the period		(36,558)	(15,219)
Ending Balance		$ 59,365	$ 36,948
[1]	There were $58,975 and $6,445 of additions included in the net OTTI losses recognized in Realized investment gains, net in the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, respectively.

Cumulative Credit Impairments66

Cumulative Credit Impairments on Fixed-maturity Securities (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Than Temporary Impairment Losses Recognized [Line Items]
Net impairment losses recognized in realized investment gains, net	$ 58,975	$ 6,445	$ 15,048

Gross and Net Realized Investme

Gross and Net Realized Investment Gains (Losses) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment gains/losses [Line Items]
OTTI	$ (58,975)	$ (6,445)	$ (15,048)
Net gains on available-for-sale securities	35,042	79,251	108,336
Gross gains on exchanges	31,832	0	44,179
Gross losses on exchanges	(11)	(84)	(11)
OTTI	0	0	(91)
Net (losses) gains on held-to-maturity securities	31,821	(84)	44,077
(Provision) benefit for mortgage loans on real estate	(2,400)	5,000	18,500
Gains for mortgage loans on real estate	0	0	4,929
Investment in affiliates	0	(6,500)	11,810
Gain (loss) on real estate sales	5,929	0	(29)
Net gains on sales of acquired loans	24,027	95	674
Other	(6)	0	0
Net realized investment gains	94,413	77,762	188,297
Fixed-maturity securities
Investment gains/losses [Line Items]
Gross gains on sales	108,094	96,698	160,091
Gross losses on sales	(15,272)	(11,114)	(36,798)
OTTI	(57,598)	(6,445)	(14,957)
Net (losses) gains on equity securities	35,224	79,139	108,336
Equity securities
Investment gains/losses [Line Items]
Gross gains on sales	2	113	0
Gross losses on sales	(184)	(1)	0
Net (losses) gains on equity securities	$ (182)	$ 112	$ 0

Major Categories of Interest an

Major Categories of Interest and Similar Income, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest and Other Income [Line Items]
Available-for-sale fixed-maturity securities	$ 3,752,867	$ 3,552,896	$ 3,185,680
Mortgage loans on real estate	413,103	377,917	367,196
Interest on acquired loans	28,122	27,548	27,817
Investment income on trading securities	16,472	11,645	9,735
Policy loans	9,834	9,981	10,461
Short-term securities	8,761	7,864	5,575
Held-to-maturity fixed-maturity securities	5,746	15,894	26,781
Interest rate swaps	5,197	1,867	697
Other invested assets	3,286	2,083	196
Interest on assets held by reinsurers	2,626	2,798	2,915
Interest on loans to affiliates	516	980	1,549
Rental income on real estate			1,462
Total	4,246,530	4,011,473	3,640,064
Less investment expenses	66,427	54,175	47,947
Total interest and similar income, net	$ 4,180,103	$ 3,957,298	$ 3,592,117

Investment in Mortgage Loans on

Investment in Mortgage Loans on Real Estate (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Mortgage loans	$ 8,825,418	$ 7,217,169
Valuation allowances	(37,400)	(35,000)
Total mortgage loans on real estate	$ 8,788,018	$ 7,182,169

Valuation Allowances on Mortgag

Valuation Allowances on Mortgage Loans on Real Estate (Detail) - Mortgage Loans on Real Estate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation Allowance [Line Items]
Balance, beginning of year	$ 35,000	$ 66,750	$ 85,250
Release due to discounted payoff	0	(26,750)	0
Provision (benefit) charged to operations	2,400	(5,000)	(18,500)
Balance, end of year	$ 37,400	$ 35,000	$ 66,750

Components of Gains or Losses R

Components of Gains or Losses Related to Derivatives that Qualify as Cash Flow Hedges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Total	$ 28,262	$ 8,295	$ (443)
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swaps, net of tax	(617)	(403)	$ (443)
Currency Swap
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency swaps, net of tax	$ 28,879	$ 8,698

Components of Gains or Losses72

Components of Gains or Losses Related to Derivatives that Qualify as Cash Flow Hedges (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swaps, tax (benefit) expense	$ (332)	$ (217)	$ (238)
Currency Swap
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency swaps, net of tax expense	$ 15,550	$ 4,683	$ 0

Derivatives and Hedging Instr73

Derivatives and Hedging Instruments - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Contract	Dec. 31, 2014USD ($)Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash flow hedge interest income to be earned in 2016	$ 7,039
Over the Counter
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total collateral for derivatives	1,019,112	$ 1,226,231
Exchange Traded
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total collateral for derivatives	$ 13,939	$ 66,273
Stock Appreciation Rights (SARs)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contracts owned | Contract	7,422	30,897
Contracts owned, cost	$ 293	$ 1,002

Company Held Options Purchased

Company Held Options Purchased (Asset) and Options Sold (Liability) with Amortized Cost Basis, Fair Value, and Notional Amounts (Detail) - Options Held - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Purchased (asset), Amortized cost	$ 589,415	$ 516,120
Purchased (asset), Fair value	359,949	504,309
Purchased (asset), Notional	28,073,842	40,747,227
Sold (liability), Basis	341,266	323,227
Sold (liability), Fair value	226,761	322,185
Sold (liability), Notional	$ 24,549,455	$ 32,723,520

Schedule of Derivative (Detail)

Schedule of Derivative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Amount	$ 150,900	$ 151,500
Fair Value	1,569	1,722
Fitch, BBB+ Rating [Member]
Derivatives, Fair Value [Line Items]
Amount	150,900	145,300
Fair Value	$ 1,569	$ 2,364
Weighted Average Years to Maturity	7 years	8 years
Fitch, BBB- Rating [Member]
Derivatives, Fair Value [Line Items]
Amount		$ 6,200
Fair Value		$ (642)
Weighted Average Years to Maturity		11 years

Balance Sheet Location and Fair

Balance Sheet Location and Fair Value of Derivatives (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	$ (16,799,420)	$ (16,386,379)
Derivative Assets
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	591,609	721,736
Account balances and future policy benefit reserves
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(17,040,708)	(16,659,895)
Derivative Liabilities
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(350,321)	(448,220)
Derivatives Designated As Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	53,794	16,597
Derivatives Designated As Cash Flow Hedges | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivatives, Fair value		950
Derivatives Designated As Cash Flow Hedges | Currency Swap
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	53,794	15,647
Derivatives Not Designated As Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(16,853,214)	(16,402,976)
Derivatives Not Designated As Cash Flow Hedges | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	82,705	62,297
Derivatives Not Designated As Cash Flow Hedges | Exchange Traded Options
Derivatives, Fair Value [Line Items]
Derivatives, Fair value		33
Derivatives Not Designated As Cash Flow Hedges | Stock Appreciation Rights (SARs)
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	614	1,302
Derivatives Not Designated As Cash Flow Hedges | MVLO
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(14,495,312)	(14,903,758)
Derivatives Not Designated As Cash Flow Hedges | Embedded Derivative
Derivatives, Fair Value [Line Items]
Derivatives, Fair value		3,669
Derivatives Not Designated As Cash Flow Hedges | Total Return Swap
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(31,462)	7,156
Derivatives Not Designated As Cash Flow Hedges | Other Embedded Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	3,097	1,673
Derivatives Not Designated As Cash Flow Hedges | TBA Securities
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(34)
Derivatives Not Designated As Cash Flow Hedges | Over the Counter
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	132,574	180,789
Derivatives Not Designated As Cash Flow Hedges | Guaranteed Minimum Withdrawal Benefit
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	(2,170,539)	(1,491,280)
Derivatives Not Designated As Cash Flow Hedges | Guaranteed Minimum Accumulation Benefit
Derivatives, Fair Value [Line Items]
Derivatives, Fair value	$ (374,857)	$ (264,857)

Gains or Losses Recognized in I

Gains or Losses Recognized in Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Policy fees	$ 1,330,651	$ 1,286,614	$ 1,172,357
Change in fair value of annuity and life embedded derivatives	(588,595)	(4,955,984)	(1,598,061)
Change in fair value of assets and liabilities	(893,943)	(2,900,618)	(108,682)
Derivatives Not Designated As Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	(501,036)	1,858,978	910,444
Derivatives Not Designated As Cash Flow Hedges | MVLO
Derivatives, Fair Value [Line Items]
Policy fees	79,951	194,229	568,744
Policyholder benefits	115,737	2,159	10,191
Change in fair value of annuity and life embedded derivatives	212,758	(3,344,049)	(2,677,038)
Derivatives Not Designated As Cash Flow Hedges | Exchange Traded Options
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	291	66,855	(11,538)
Derivatives Not Designated As Cash Flow Hedges | Future
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	(423,134)	(267,628)	1,693,399
Derivatives Not Designated As Cash Flow Hedges | Stock Appreciation Rights (SARs)
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	630	69	1,823
Derivatives Not Designated As Cash Flow Hedges | Embedded Derivative
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	(188)	(150)	(119)
Derivatives Not Designated As Cash Flow Hedges | Other Embedded Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	1,423	(230)	(623)
Derivatives Not Designated As Cash Flow Hedges | Forward Commitments
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	330	0	0
Derivatives Not Designated As Cash Flow Hedges | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	279,158	1,085,355	(684,511)
Derivatives Not Designated As Cash Flow Hedges | Total Return Swap
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	4,093	113,236	391,726
Derivatives Not Designated As Cash Flow Hedges | Credit Default Swaps [Member]
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	(2,220)	(626)	0
Derivatives Not Designated As Cash Flow Hedges | Guaranteed Minimum Withdrawal Benefit
Derivatives, Fair Value [Line Items]
Change in fair value of annuity and life embedded derivatives	(679,259)	(1,445,524)	912,073
Derivatives Not Designated As Cash Flow Hedges | Guaranteed Minimum Accumulation Benefit
Derivatives, Fair Value [Line Items]
Change in fair value of annuity and life embedded derivatives	(122,094)	(166,411)	166,904
Derivatives Not Designated As Cash Flow Hedges | Over the Counter
Derivatives, Fair Value [Line Items]
Change in fair value of assets and liabilities	$ (361,419)	$ 862,097	$ (479,713)

Derivative Assets And Liabiliti

Derivative Assets And Liabilities Subject To Enforceable Master Netting Arrangement (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net amounts presented in the balance sheet, derivatives assets		$ 591,609	$ 721,736
Net amounts presented in the balance sheet, derivatives liabilities		(350,321)	(448,220)
Gross amounts recognized, net derivatives		1,569	1,722
Net amounts presented in the balance sheet, net derivatives		(16,799,420)	(16,386,379)
Derivative Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross amounts recognized, derivatives assets		587,898	715,092
Gross amounts offset in the balance sheet, derivatives assets		0	0
Net amounts presented in the balance sheet, derivatives assets		587,898	715,092
Gross amounts not offset in the balance sheet, financial instruments, derivative assets	[1]	(346,116)	(424,495)
Gross amounts not offset in the balance sheet, collateral pledged/received		(216,659)	(212,596)
Net amount, derivatives assets		25,123	78,001
Derivative liability
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross amounts recognized, derivatives liabilities		(350,276)	(448,220)
Gross amounts offset in the balance sheet, derivatives liabilities		0	0
Net amounts presented in the balance sheet, derivatives liabilities		(350,276)	(448,220)
Gross amounts not offset in the balance sheet, financial instruments, derivative liabilities	[1]	346,116	424,495
Gross amounts not offset in the balance sheet, collateral pledged/received		4,160	23,352
Net amount, derivatives liabilities			(373)
Derivative
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross amounts recognized, net derivatives		237,622	266,872
Net amounts presented in the balance sheet, net derivatives		237,622	266,872
Gross amounts not offset in the balance sheet, collateral pledged/received		(212,499)	(189,244)
Net amount		$ 25,123	$ 77,628
[1]	Represents the amount of assets or liabilities that could be offset by liabilities or assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		$ 80,734,468	$ 79,211,785
Fair value through income		37,111	41,223
Derivative investments		591,609	721,736
Equity securities, available-for-sale		68,611	6,226
Equity securities, trading		292,816	314,023
Corporate-owned life insurance		316,926	312,419
Separate account assets		28,243,123	30,789,371
Total assets accounted for at fair value		110,284,664	111,396,783
Liabilities accounted for at fair value:
Derivative liabilities		350,321	448,220
Separate account liabilities		28,243,123	30,789,371
Reserves at fair value	[1]	18,096,009	17,052,283
Total liabilities accounted for at fair value		46,689,453	48,289,874
U.S. Government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		1,755,324	1,232,954
Agencies not backed by the full faith and credit of the U.S. government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		10,514	145,350
States and political subdivisions
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		8,998,534	7,540,942
Foreign government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		272,167	311,675
Public utilities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		6,222,198	6,328,249
Corporate securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		50,946,485	49,497,457
Mortgage-backed securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		12,497,799	14,097,897
Collateralized mortgage obligations
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		10,283	12,032
Collateralized debt obligations
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		21,164	45,229
Fair Value, Inputs, Level 1
Assets accounted for at fair value:
Fair value through income		37,111	41,223
Derivative investments			32
Equity securities, available-for-sale		68,611	6,226
Equity securities, trading		269,956	286,971
Separate account assets		28,243,123	30,789,371
Total assets accounted for at fair value		30,374,125	32,356,777
Liabilities accounted for at fair value:
Separate account liabilities		28,243,123	30,789,371
Total liabilities accounted for at fair value		28,243,123	30,789,371
Fair Value, Inputs, Level 1 | U.S. Government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		1,755,324	1,232,954
Fair Value, Inputs, Level 2
Assets accounted for at fair value:
Derivative investments		589,259	710,121
Equity securities, trading		22,860	27,052
Corporate-owned life insurance		316,926	312,419
Total assets accounted for at fair value		72,776,650	73,213,955
Liabilities accounted for at fair value:
Derivative liabilities		316,509	447,463
Total liabilities accounted for at fair value		316,509	447,463
Fair Value, Inputs, Level 2 | Agencies not backed by the full faith and credit of the U.S. government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		10,514	145,350
Fair Value, Inputs, Level 2 | States and political subdivisions
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		8,998,035	7,540,942
Fair Value, Inputs, Level 2 | Foreign government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		238,794	277,528
Fair Value, Inputs, Level 2 | Public utilities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		5,572,340	5,807,050
Fair Value, Inputs, Level 2 | Corporate securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		44,574,746	44,284,896
Fair Value, Inputs, Level 2 | Mortgage-backed securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		12,442,893	14,096,565
Fair Value, Inputs, Level 2 | Collateralized mortgage obligations
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		10,283	12,032
Fair Value, Inputs, Level 3
Assets accounted for at fair value:
Derivative investments		2,350	11,583
Total assets accounted for at fair value		7,133,889	5,826,051
Liabilities accounted for at fair value:
Derivative liabilities		33,812	757
Reserves at fair value	[1]	18,096,009	17,052,283
Total liabilities accounted for at fair value		18,129,821	17,053,040
Fair Value, Inputs, Level 3 | States and political subdivisions
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		499
Fair Value, Inputs, Level 3 | Foreign government
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		33,373	34,147
Fair Value, Inputs, Level 3 | Public utilities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		649,858	521,199
Fair Value, Inputs, Level 3 | Corporate securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		6,371,739	5,212,561
Fair Value, Inputs, Level 3 | Mortgage-backed securities
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		54,906	1,332
Fair Value, Inputs, Level 3 | Collateralized debt obligations
Assets accounted for at fair value:
Fixed-maturity securities, available-for-sale		$ 21,164	$ 45,229
[1]	Reserves at fair value are reported in Account balances and future policy benefit reserves on the Consolidated Balance Sheets.

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FHLB stock held	$ 50,000	$ 30,000
Cash received from FHLB advance	500,000
Private placement | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private placement securities	6,685,280	5,461,205
Account balances and future policy benefit reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Funding agreement, balance	500,000	500,000
Amount of collateral	$ 1,313,443	$ 655,031

Reconciliation of the Beginning

Reconciliation of the Beginning and Ending Balances for the Company's Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale Securities
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	$ 5,814,468	$ 4,022,234
Net income	(19,907)	(509)
Other comprehensive income (loss)	(340,385)	160,647
Purchases and issuances	1,982,906	1,637,862
Sales and settlements	(361,220)	(168,160)
Transfer into and/or out of Level 3, net	55,677	162,394
Ending balance	7,131,539	5,814,468
Realized gains (losses) included in net Income related to financial instruments	(27,490)	(10,201)
Available-for-sale Securities | States and political subdivisions
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Other comprehensive income (loss)	(1)
Purchases and issuances	500
Ending balance	499
Available-for-sale Securities | Foreign government
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	34,147	33,284
Other comprehensive income (loss)	(774)	863
Ending balance	33,373	34,147
Available-for-sale Securities | Public utilities
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	521,199	201,195
Net income	(1,025)	(63)
Other comprehensive income (loss)	(26,113)	21,494
Purchases and issuances	161,600	205,774
Sales and settlements	(5,803)	(8,435)
Transfer into and/or out of Level 3, net		101,234
Ending balance	649,858	521,199
Realized gains (losses) included in net Income related to financial instruments	(1,024)	(63)
Available-for-sale Securities | Corporate securities
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	5,212,561	3,727,803
Net income	(19,428)	(3,046)
Other comprehensive income (loss)	(313,328)	138,923
Purchases and issuances	1,820,806	1,432,088
Sales and settlements	(329,689)	(144,367)
Transfer into and/or out of Level 3, net	817	61,160
Ending balance	6,371,739	5,212,561
Realized gains (losses) included in net Income related to financial instruments	(26,502)	(11,865)
Available-for-sale Securities | Collateralized debt obligations
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	45,229	56,872
Net income	516	2,488
Other comprehensive income (loss)	(167)	(592)
Sales and settlements	(24,414)	(13,539)
Ending balance	21,164	45,229
Realized gains (losses) included in net Income related to financial instruments	36	1,615
Available-for-sale Securities | Mortgage-backed securities
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	1,332	3,080
Net income	30	112
Other comprehensive income (loss)	(2)	(41)
Sales and settlements	(1,314)	(1,819)
Transfer into and/or out of Level 3, net	54,860
Ending balance	54,906	1,332
Realized gains (losses) included in net Income related to financial instruments		112
Reserve at Fair Value
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	(17,052,283)	(11,943,461)
Net income	273,778	(4,077,424)
Purchases and issuances	(2,687,078)	(2,166,876)
Sales and settlements	1,369,574	1,135,478
Ending balance	(18,096,009)	(17,052,283)
Realized gains (losses) included in net Income related to financial instruments	(2,413,300)	(6,244,300)
Derivative Assets
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	11,583	8,666
Net income	182,923	240,700
Sales and settlements	(192,156)	(237,783)
Ending balance	2,350	11,583
Realized gains (losses) included in net Income related to financial instruments	2,917	2,917
Derivative liability
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	(757)	(29,251)
Net income	(179,854)	(128,330)
Sales and settlements	146,799	156,824
Ending balance	(33,812)	(757)
Realized gains (losses) included in net Income related to financial instruments	$ (28,494)	$ 28,494

Assets and Liabilities Measur82

Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Detail) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 7,131,539	$ 5,814,468	$ 4,022,234
Available-for-sale Securities | States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 499
Valuation Technique		Discounted cash flow
Available-for-sale Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 33,373	34,147	33,284
Valuation Technique		Matrix pricing
Available-for-sale Securities | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 649,858	521,199	201,195
Valuation Technique		Matrix pricing
Available-for-sale Securities | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 6,371,739	5,212,561	3,727,803
Valuation Technique		Matrix pricing
Available-for-sale Securities | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 21,164	45,229	56,872
Valuation Technique		Intex discounted cash flows
Available-for-sale Securities | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 54,906	1,332	3,080
Valuation Technique		Intex discounted cash flows
Reserve at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ (18,096,009)	(17,052,283)	(11,943,461)
Reserve at Fair Value | MVLO
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ (14,495,312)
Valuation Technique		Discounted cash flow
Unobservable Input, Annuitizations, minimum		0.00%
Unobservable Input, Annuitizations, maximum		25.00%
Reserve at Fair Value | GMWB and GMAB
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ (2,545,396)
Valuation Technique		Discounted cash flow
Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 2,350	11,583	8,666
Derivative Assets | Total Return Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Spread and discount rates	[1]
Derivative Assets | Total Return Swap | Third Party Pricing Valuation Technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ 2,350
Valuation Technique		Third-Party Vendor
Derivative liability
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ (33,812)	$ (757)	$ (29,251)
Derivative liability | Total Return Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Spread and discount rates	[1]
Derivative liability | Total Return Swap | Third Party Pricing Valuation Technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value		$ (33,812)
Valuation Technique		Third-Party Vendor
Minimum | Available-for-sale Securities | States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		206
Minimum | Available-for-sale Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		132
Minimum | Available-for-sale Securities | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		94
Minimum | Available-for-sale Securities | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		40
Minimum | Available-for-sale Securities | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Constant prepayment rate		0.00%
Unobservable Input, Loss severity		12.00%
Unobservable Input, Annual default rate		0.19%
Minimum | Available-for-sale Securities | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Constant prepayment rate		0.00%
Unobservable Input, Loss severity		12.00%
Unobservable Input, Annual default rate		0.19%
Minimum | Reserve at Fair Value | MVLO
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Surrenders		0.00%
Unobservable Input, Mortality		0.00%
Unobservable Input, Withdrawal Benefit Election		0.00%
Minimum | Reserve at Fair Value | GMWB and GMAB
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Surrenders		0.50%
Maximum | Available-for-sale Securities | States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		206
Maximum | Available-for-sale Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		182
Maximum | Available-for-sale Securities | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		492
Maximum | Available-for-sale Securities | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		1,415
Maximum | Available-for-sale Securities | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Constant prepayment rate		25.00%
Unobservable Input, Loss severity		100.00%
Unobservable Input, Annual default rate		100.00%
Maximum | Available-for-sale Securities | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Constant prepayment rate		25.00%
Unobservable Input, Loss severity		100.00%
Unobservable Input, Annual default rate		100.00%
Maximum | Reserve at Fair Value | MVLO
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Surrenders		25.00%
Unobservable Input, Mortality		100.00%
Unobservable Input, Withdrawal Benefit Election		50.00%
Maximum | Reserve at Fair Value | GMWB and GMAB
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Surrenders		35.00%
Weighted Average | Available-for-sale Securities | States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		206
Weighted Average | Available-for-sale Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		165
Weighted Average | Available-for-sale Securities | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		193
Weighted Average | Available-for-sale Securities | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Unobservable Input, Option adjusted spread		234
[1]	Management does not have insight into the specific assumptions used. See narrative below for qualitative discussion.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financial assets, Carrying amount:
Held-to-maturity fixed-maturity securities	$ 55	$ 180,398
Mortgage loans on real estate	8,788,018	7,182,169
Loans to affiliates	33,005	850,115
Policy loans	163,129	160,141
Acquired loans	224,083	201,268
Other invested assets	92,977	75,041
Financial liabilities, Carrying amount :
Investment contracts	89,282,957	84,156,386
Other liabilities	500,000
Mortgage notes payable	84,761	92,184
Financial assets, Fair value:
Held-to-maturity fixed-maturity securities	5,279	204,489
Mortgage loans on real estate	9,042,293	7,618,106
Loans to affiliates	32,733	850,115
Policy loans	163,129	160,141
Acquired loans	271,927	273,375
Other invested assets	92,977	75,041
Financial liabilities, Fair value:
Investment contracts	90,027,198	84,921,955
Other liabilities	499,079
Mortgage notes payable	98,890	109,119
Fair Value, Inputs, Level 2
Financial assets, Fair value:
Loans to affiliates		850,115
Policy loans	163,129	160,141
Acquired loans		175,888
Fair Value, Inputs, Level 3
Financial assets, Fair value:
Held-to-maturity fixed-maturity securities	5,279	204,489
Mortgage loans on real estate	9,042,293	7,618,106
Loans to affiliates	32,733
Acquired loans	271,927	97,487
Other invested assets	92,977	75,041
Financial liabilities, Fair value:
Investment contracts	90,027,198	84,921,955
Other liabilities	499,079
Mortgage notes payable	$ 98,890	$ 109,119

Allowances For Credit Losses An

Allowances For Credit Losses And Investment in Financing Receivables (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Allowance for credit losses:
Beginning balance	$ 41,486	$ 72,967
(Benefit)/provision	1,439	(31,481)
Ending balance	42,925	41,486
Ending balance individually evaluated for impairment		1,505
Ending balance collectively evaluated for impairment	42,925	39,981
Financing receivables:
Ending balance	8,900,316	7,279,466
Ending balance individually evaluated for impairment		31,840
Ending balance collectively evaluated for impairment	8,900,316	7,247,626
Mortgage Receivable
Allowance for credit losses:
Beginning balance	35,000	66,750
(Benefit)/provision	2,400	(31,750)
Ending balance	37,400	35,000
Ending balance collectively evaluated for impairment	37,400	35,000
Financing receivables:
Ending balance	8,825,418	7,217,169
Ending balance collectively evaluated for impairment	8,825,418	7,217,169
Non Trade Receivable
Allowance for credit losses:
Beginning balance	6,486	6,217
(Benefit)/provision	(961)	269
Ending balance	5,525	6,486
Ending balance individually evaluated for impairment		1,505
Ending balance collectively evaluated for impairment	5,525	4,981
Financing receivables:
Ending balance	30,557	31,962
Ending balance individually evaluated for impairment		1,505
Ending balance collectively evaluated for impairment	30,557	30,457
Affiliates
Financing receivables:
Ending balance	33,000
Ending balance collectively evaluated for impairment	33,000
Non Affiliates
Financing receivables:
Ending balance	11,341	30,335
Ending balance individually evaluated for impairment		$ 30,335
Ending balance collectively evaluated for impairment	$ 11,341

Loan-to-Value Analysis of Comme

Loan-to-Value Analysis of Commercial Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 8,900,316	$ 7,279,466
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 8,825,418	$ 7,217,169
Mortgage loan, loan to value percentage	100.00%	100.00%
Mortgage Receivable | Less than 50%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 3,562,574	$ 2,439,554
Mortgage loan, loan to value percentage	40.40%	33.90%
Mortgage Receivable | 50% To 60%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 2,650,959	$ 1,849,502
Mortgage loan, loan to value percentage	30.00%	25.60%
Mortgage Receivable | 60% To 70%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 2,098,581	$ 2,072,965
Mortgage loan, loan to value percentage	23.80%	28.70%
Mortgage Receivable | 70% To 80%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 317,950	$ 599,743
Mortgage loan, loan to value percentage	3.60%	8.30%
Mortgage Receivable | 80% To 90%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 182,112	$ 209,957
Mortgage loan, loan to value percentage	2.00%	2.90%
Mortgage Receivable | 90% To 100%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial	$ 13,242	$ 13,426
Mortgage loan, loan to value percentage	0.20%	0.20%
Mortgage Receivable | Greater than 100%
Financing Receivable, Recorded Investment [Line Items]
Mortgage loan, commercial		$ 32,022
Mortgage loan, loan to value percentage		0.40%

Debt Service Coverage Ratio (De

Debt Service Coverage Ratio (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Commercial mortgage loans	$ 8,825,418	$ 7,217,169
Greater than 1.4x
Financing Receivable, Recorded Investment [Line Items]
Commercial mortgage loans	6,884,063	5,204,622
1.2x To 1.4x
Financing Receivable, Recorded Investment [Line Items]
Commercial mortgage loans	1,418,724	1,208,043
1.0x To 1.2x
Financing Receivable, Recorded Investment [Line Items]
Commercial mortgage loans	359,399	656,376
Less than 1.0x
Financing Receivable, Recorded Investment [Line Items]
Commercial mortgage loans	$ 163,232	$ 148,128

Nontrade Receivables and Allowa

Nontrade Receivables and Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Nontrade receivables	$ 8,900,316	$ 7,279,466
Allowance for credit losses	(42,925)	(41,486)	$ (72,967)
Non Trade Receivable
Financing Receivable, Allowance for Credit Losses [Line Items]
Nontrade receivables	30,557	31,962
Allowance for credit losses	(5,525)	(6,486)	$ (6,217)
Net nontrade receivables	25,032	25,476
Agents | Non Trade Receivable
Financing Receivable, Allowance for Credit Losses [Line Items]
Nontrade receivables	6,976	6,835
Allowance for credit losses	(5,525)	(4,981)
Net nontrade receivables	1,451	1,854
Reinsurer | Non Trade Receivable
Financing Receivable, Allowance for Credit Losses [Line Items]
Nontrade receivables	23,581	25,127
Allowance for credit losses		(1,505)
Net nontrade receivables	$ 23,581	$ 23,622

Aging Analysis of Past Due Fina

Aging Analysis of Past Due Financing Receivables (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 14,378	$ 13,348
Current	8,885,938	7,266,118
Total	8,900,316	7,279,466
Mortgage Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	8,825,418	7,217,169
Total	8,825,418	7,217,169
Non Trade Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	14,318	13,348
Current	16,239	18,614
Total	30,557	31,962
Affiliates
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	33,000
Total	33,000
Non Affiliates
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	60
Current	11,281	30,335
Total	11,341	30,335
Financing Receivables, 31 to 60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	6,953	3,794
Financing Receivables, 31 to 60 Days Past Due | Non Trade Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	6,893	3,794
Financing Receivables, 31 to 60 Days Past Due | Non Affiliates
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	60
Financing Receivables, 61 to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,796	2,533
Financing Receivables, 61 to 90 Days Past Due | Non Trade Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,796	2,533
Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	5,629	7,021
Financing Receivables, Equal to Greater than 90 Days Past Due | Non Trade Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 5,629	$ 7,021

Schedule of Goodwill (Detail)

Schedule of Goodwill (Detail) - USD ($) $ in Thousands	Dec. 03, 2014	Dec. 31, 2015		Dec. 31, 2014
Goodwill [Line Items]
Balance, beginning of year		$ 482,905		$ 484,401
Reduction in goodwill due to sale of minority interest	$ (1,496)	0	[1]	(1,496)	[1]
Balance, end of year		$ 482,905		$ 482,905
[1]	See further discussion regarding the sale of the minority interest in Footnote 17.

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill impairment	$ 0	$ 0

Value of Business Acquired an91

Value of Business Acquired and Changes in the Balances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Balance, beginning of year	$ 0	$ 0	$ 0
Interest	210	314	439
Amortization	(2,950)	(3,479)	(4,327)
Change in shadow VOBA	2,740	3,165	3,888
Balance, end of year	$ 0	$ 0	$ 0

Net Amortization Of VOBA (Detai

Net Amortization Of VOBA (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Schedule Of Estimated Future Amortization Expense [Line Items]
2,016	$ 2,025
2,017	1,120
2,018	919
2,019	392
2,020	$ 0

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Balance, beginning of year	$ 2,050	$ 2,120	$ 3,271
Amortization		(70)	(1,151)
Transfer to held-for-sale	$ (2,050)
Balance, end of year		$ 2,050	$ 2,120

Value of Business Acquired an94

Value of Business Acquired and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Accumulated amortization of VOBA and other intangible assets		$ 255,709	$ 252,759
Trade Names
Business Acquisition [Line Items]
Intangible amortization	$ 1,050

Deferred Acquisition Costs (Det

Deferred Acquisition Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Policy Acquisition Costs [Line Items]
Balance, beginning of year	$ 4,362,771	$ 4,820,215	$ 2,603,307
Capitalization	911,425	1,349,236	812,006
Interest	181,239	177,754	186,157
Amortization	(1,331,923)	(853,904)	(1,204,862)
Change in shadow DAC	2,159,724	(1,130,530)	2,423,607
Balance, end of year	$ 6,283,236	$ 4,362,771	$ 4,820,215

Pretax Impact on Assets and Lia

Pretax Impact on Assets and Liabilities as Result of Unlocking (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liabilities:
Net increase	$ 65,527	$ 26,175	$ 118,809
Deferred income tax expense	22,934	9,161	41,583
Net increase	42,593	17,014	77,226
Unlocking Of Assumptions
Assets:
Total assets (decrease) increase	(136,906)	(13,970)	(102,769)
Liabilities:
Total liabilities increase (decrease)	(202,433)	(40,145)	(221,578)
Unlocking Of Assumptions | Account balances and future policy benefit reserves
Liabilities:
Total liabilities increase (decrease)	(154,064)	(38,177)	(224,023)
Unlocking Of Assumptions | Unearned Premiums
Liabilities:
Total liabilities increase (decrease)	(48,369)	(1,968)	2,445
Unlocking Of Assumptions | DAC
Assets:
Total assets (decrease) increase	(109,797)	(5,294)	(82,082)
Unlocking Of Assumptions | DSI
Assets:
Total assets (decrease) increase	(32,400)	(8,673)	(20,860)
Unlocking Of Assumptions | VOBA
Assets:
Total assets (decrease) increase	(180)	(120)	116
Unlocking Of Assumptions | Reinsurance Recoverable
Assets:
Total assets (decrease) increase	$ 5,471	$ 117	$ 57

Schedule of Deferred Sales Indu

Schedule of Deferred Sales Inducement Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	$ 847,000	$ 1,076,530	$ 673,944
Capitalization	48,546	143,717	131,127
Amortization	(284,883)	(183,504)	(242,605)
Interest	33,927	35,528	38,936
Change in shadow DSI	465,602	(225,271)	475,128
Balance, end of year	$ 1,110,192	$ 847,000	$ 1,076,530

Guaranteed Minimums (Detail)

Guaranteed Minimums (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Guaranteed Minimum Death Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 30,998,857	$ 32,986,240
Net amount at risk	1,024,331	556,055
Guaranteed Minimum Death Benefit | Return of premium
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	22,106,973	22,885,613
Net amount at risk	$ 144,789	$ 38,798
Weighted age (years)	63 years 4 months 24 days	62 years 10 months 24 days
Guaranteed Minimum Death Benefit | Ratchet and return of premium
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 4,799,853	$ 5,297,482
Net amount at risk	$ 265,614	$ 70,239
Weighted age (years)	67 years 1 month 6 days	66 years 6 months
Guaranteed Minimum Death Benefit | Ratchet and rollup
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 3,756,726	$ 4,413,506
Net amount at risk	$ 590,255	$ 417,237
Weighted age (years)	70 years 2 months 12 days	69 years 7 months 6 days
Guaranteed Minimum Death Benefit | Ratchet and earnings protection rider
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 3,006	$ 3,960
Net amount at risk	$ 1,105	$ 1,443
Weighted age (years)	83 years 2 months 12 days	81 years
Guaranteed Minimum Death Benefit | Reset
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 88,037	$ 102,983
Net amount at risk	$ 1,422	$ 677
Weighted age (years)	75 years 8 months 12 days	74 years 9 months 18 days
Guaranteed Minimum Death Benefit | Earnings protection rider
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 244,262	$ 282,696
Net amount at risk	$ 21,146	$ 27,661
Weighted age (years)	68 years 1 month 6 days	67 years 3 months 18 days
Guaranteed Minimum Income Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 7,153,980	$ 8,514,620
Net amount at risk	935,316	645,119
Guaranteed Minimum Income Benefit | Return of premium
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	103,455	123,495
Net amount at risk	$ 390	$ 809
Weighted age (years)	71 years 8 months 12 days	71 years
Guaranteed Minimum Income Benefit | Ratchet and return of premium
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 2,128,810	$ 2,589,470
Net amount at risk	$ 39,990	$ 6,775
Weighted age (years)	69 years 4 months 24 days	68 years 4 months 24 days
Guaranteed Minimum Income Benefit | Ratchet and rollup
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 4,921,715	$ 5,801,655
Net amount at risk	$ 894,936	$ 637,535
Weighted age (years)	66 years 8 months 12 days	65 years 10 months 24 days
Guaranteed Minimum Accumulation Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 7,447,539	$ 8,532,709
Net amount at risk	308,449	48,426
Guaranteed Minimum Accumulation Benefit | Five years
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	3,125,235	3,858,091
Net amount at risk	$ 75,278	$ 13,503
Weighted age (years)	68 years 9 months 18 days	67 years 10 months 24 days
Guaranteed Minimum Accumulation Benefit | Ten years
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 3,144	$ 4,231
Net amount at risk	$ 1	$ 16
Weighted age (years)	81 years 2 months 12 days	80 years
Guaranteed Minimum Accumulation Benefit | Target date retirement - 7 year
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 685,742	$ 791,444
Net amount at risk	$ 26,416	$ 4,733
Weighted age (years)	63 years 2 months 12 days	62 years 4 months 24 days
Guaranteed Minimum Accumulation Benefit | Target date retirement - 10 year
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 271,947	$ 295,251
Net amount at risk	$ 17,557	$ 1,457
Weighted age (years)	59 years 9 months 18 days	58 years 10 months 24 days
Guaranteed Minimum Accumulation Benefit | Target date with management levers
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 3,361,471	$ 3,583,692
Net amount at risk	$ 189,196	$ 28,717
Weighted age (years)	61 years 3 months 18 days	60 years 6 months
Guaranteed Minimum Withdrawal Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 15,590,405	$ 15,954,817
Net amount at risk	2,787,854	1,381,137
Guaranteed Minimum Withdrawal Benefit | No living benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 689,570	$ 620,033
Weighted age (years)	68 years 6 months	68 years 9 months 18 days
Guaranteed Minimum Withdrawal Benefit | Life benefit with optional reset
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 951,084	$ 1,086,720
Net amount at risk	$ 182,920	$ 123,933
Weighted age (years)	68 years 1 month 6 days	67 years 4 months 24 days
Guaranteed Minimum Withdrawal Benefit | Life benefit with automatic reset
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 1,498,005	$ 1,661,153
Net amount at risk	$ 205,492	$ 97,192
Weighted age (years)	64 years 4 months 24 days	63 years 7 months 6 days
Guaranteed Minimum Withdrawal Benefit | Life benefit with 8% rollup
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 30,070	$ 34,001
Net amount at risk	$ 6,520	$ 3,691
Weighted age (years)	69 years 1 month 6 days	68 years 3 months 18 days
Guaranteed Minimum Withdrawal Benefit | Life benefit with 10% rollup
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 1,138,409	$ 1,248,797
Net amount at risk	$ 338,886	$ 219,842
Weighted age (years)	63 years 9 months 18 days	63 years
Guaranteed Minimum Withdrawal Benefit | Life benefit with management levers
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 11,283,267	$ 11,304,113
Net amount at risk	$ 2,054,036	$ 936,479
Weighted age (years)	60 years 8 months 12 days	60 years 2 months 12 days

Account Balances of Variable An

Account Balances of Variable Annuity Which are Invested in Separate Account (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	$ 28,243,123	$ 30,789,371
Mutual Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	27,509,215	30,020,891
Mutual Funds | Bond Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	3,447,255	3,712,198
Mutual Funds | Domestic Equity Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	14,225,576	15,438,301
Mutual Funds | International Equity Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	1,473,393	1,807,570
Mutual Funds | Specialty
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	8,362,991	9,062,822
Money Market Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	655,648	677,571
Other Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate account investment	$ 78,260	$ 90,909

Summary of Liabilities for Vari

Summary of Liabilities for Variable Contract Guarantees (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning balance	$ 1,995,338	$ 388,015
Incurred guaranteed benefits	860,427	1,632,792
Paid guaranteed benefits	(36,877)	(25,469)
Ending balance	2,818,888	1,995,338
Guaranteed Minimum Death Benefit
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning balance	86,422	67,937
Incurred guaranteed benefits	24,238	28,860
Paid guaranteed benefits	(13,633)	(10,375)
Ending balance	97,027	86,422
Guaranteed Minimum Income Benefit
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning balance	152,779	166,333
Incurred guaranteed benefits	34,835	(8,003)
Paid guaranteed benefits	(11,149)	(5,551)
Ending balance	176,465	152,779
Guaranteed Minimum Accumulation Benefit
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning balance	264,857	107,973
Incurred guaranteed benefits	122,095	166,427
Paid guaranteed benefits	(12,095)	(9,543)
Ending balance	374,857	264,857
Guaranteed Minimum Withdrawal Benefit
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Beginning balance	1,491,280	45,772
Incurred guaranteed benefits	679,259	1,445,508
Ending balance	$ 2,170,539	$ 1,491,280

Mortgage Notes Payable - Additi

Mortgage Notes Payable - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2005	Dec. 31, 2004
Notes Payable [Line Items]
Mortgage Loans					$ 80,000
Construction loan				$ 65,000
Mortgage and construction notes payable	$ 84,761	$ 92,184
Debt instrument, interest rate	5.52%
Debt instrument, maturity date	Aug. 1, 2024
Debt instrument, term	20 years
Interest expense for loans	$ 4,871	$ 5,271	$ 5,649

Future Principal Payments Requi

Future Principal Payments Required Under Northwestern Loan (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Scheduled Principal Payments For Borrowings [Line Items]
2,016	$ 7,844
2,017	8,288
2,018	8,758
2,019	9,254
2,020	9,778
2021 and beyond	40,839
Total	$ 84,761

Activity in Accident and Health

Activity in Accident and Health Claim Reserves (Detail) - Accident and health - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease) [Abstract]
Balance at January 1, net of reinsurance recoverables of $283,252, $259,829, and $221,718, respectively	$ 135,168	$ 127,405	$ 107,410
Adjustment primarily related to commutation and assumption reinsurance on blocks of business	323	(35)	(70)
Current year	71,378	60,474	54,096
Prior years	(4,275)	(11,243)	5,359
Total incurred	67,103	49,231	59,455
Current year	4,331	3,677	3,519
Prior years	40,942	37,756	35,871
Total paid	45,273	41,433	39,390
Balance at December 31, net of reinsurance recoverables of $340,048, $283,252, and $259,829, respectively	$ 157,321	$ 135,168	$ 127,405

Activity in Accident and Hea104

Activity in Accident and Health Claim Reserves (Parenthetical) (Detail) - Accident and health - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease) [Abstract]
Reinsurance recoverable	$ 283,252	$ 259,829	$ 221,718
Reinsurance recoverable	$ 340,048	$ 283,252	$ 259,829

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reinsurance [Line Items]
Reinsurance recoverables and receivables, collateral	$ 3,485,810	$ 3,669,536
Minimum
Reinsurance [Line Items]
Reinsurance retained amount per individual	1,000	1,000
Maximum
Reinsurance [Line Items]
Reinsurance retained amount per individual	$ 5,000	$ 5,000

Income Tax (Benefit) Expense (D

Income Tax (Benefit) Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income tax expense (benefit) attributable to operations:
Current tax expense	$ 551,052	$ 265,586	$ 42,854
Deferred tax (benefit) expense	(307,986)	(240,863)	160,438
Total income tax expense (benefit) attributable to net income	243,066	24,723	203,292
Income tax effect on equity:
Attributable to unrealized (losses) gains on investments	(691,519)	418,073	(661,574)
Attributable to unrealized (losses) gains on postretirement obligation			(127)
Attributable to unrealized (losses) gains on foreign exchange	(2,159)	(1,132)	(889)
Total income tax effect on equity	$ (450,612)	$ 441,664	$ (459,298)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
Statutory income tax rate	35.00%
Income taxes paid (recovered)	$ 329,563	$ 250,127	$ 74,460
Tax payable	119	134
Interest and penalties expense related to unrecognized tax benefits	(10,701)	2,180	$ 2,571
Accrued interest and penalties related to unrecognized tax benefits	1,431	12,132
AZOA
Income Tax Disclosure [Line Items]
Tax payable	$ 291,948	$ 79,981

Reconciliation of Income Tax Ex

Reconciliation of Income Tax Expense (Benefit) Computed at Statutory Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components Of Income Tax Expense Benefit [Line Items]
Income tax expense (benefit) computed at the statutory rate	$ 295,177	$ 63,066	$ 260,567
Dividends-received deductions and tax-exempt interest	(40,687)	(27,849)	(32,037)
State income tax	4,642	4,106	(2,049)
Release AZLPF tax			(5,829)
(Release) Accrual of tax contingency reserve	(10,701)	2,180	2,571
Foreign tax, net	(3,143)	(3,202)	(12,209)
Corporate-owned life insurance	(2,285)	(7,806)	(12,933)
Penalties	529	(6,174)	6,376
Other	(466)	402	(1,165)
Income tax expense (benefit) as reported	$ 243,066	$ 24,723	$ 203,292

Significant Components of Net D

Significant Components of Net Deferred Tax Asset (Liability) (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Policy reserves	$ 3,219,849	$ 2,847,620
Expense accruals	47,412	144,197
Other-than-temporarily impaired assets	20,961	13,352
Provision for postretirement benefits	34,072	31,190
Other	6,898	2,102
Total deferred tax assets	3,329,192	3,038,461
Deferred tax liabilities:
Deferred acquisition costs	(1,948,643)	(1,086,964)
Investment income	(230,228)	(159,754)
Depreciation and amortization	(55,351)	(51,311)
Deferred intercompany gain		(3,187)
Net unrealized gains on investments and foreign exchange	(551,999)	(2,196,751)
Total deferred tax liabilities	(2,786,221)	(3,497,967)
Net deferred tax asset	$ 542,971
Net deferred tax liability		$ (459,506)

Reconciliation of Unrecognized

Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Beginning balance	$ 59,103	$ 70,174
Additions based on tax positions related to the current year	359	509
Amounts released related to tax positions taken in prior years	(58,095)	(11,580)
Ending balance	$ 1,367	$ 59,103

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	Dec. 01, 2015	Dec. 03, 2014	Oct. 01, 2010	Sep. 29, 2009	Jul. 31, 2015	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2006	Dec. 31, 2004	Dec. 31, 2003	Dec. 22, 2010	Dec. 31, 2009
Related Party Transaction [Line Items]
Dividends paid in cash						$ 572,125,000		$ 250,000,000		$ 650,000,000
Related party transaction, loan balance						33,005,000		850,115,000
Interest earned						516,000		980,000		1,549,000
Rental income										1,462,000
Income recognized						293,333,000		282,058,000		261,926,000
Fees receivable						401,926,000		150,871,000
General and administrative expenses						641,962,000		676,815,000		663,319,000
Reinsurance recoverables & receivables						4,433,499,000		$ 4,205,860,000
Lending capacity under the agreement, percentage								5.00%
Amounts outstanding under the line of credit agreement						0		$ 0
Amounts borrowed under the line of credit agreement						0		0
Net realized investment gain (loss)						94,413,000		77,762,000		188,297,000
Goodwill eliminated due to sale of minority equity interest		$ 1,496,000				0	[1]	1,496,000	[1]
Noncontrolling Interest
Related Party Transaction [Line Items]
Minority interest repurchased by FMO		500,000
Put Option | Noncontrolling Interest
Related Party Transaction [Line Items]
Net realized investment gain (loss)		(6,500,000)
Put Option | Long | Noncontrolling Interest
Related Party Transaction [Line Items]
Put option purchased		$ 6,500,000
AZOA
Related Party Transaction [Line Items]
Dividends paid in cash						572,125,000		250,000,000		650,000,000
Allianz SE
Related Party Transaction [Line Items]
Related party transaction, loan balance						5,000		850,115,000
Related party transaction, amount of loan agreement													$ 350,000,000
Dividends paid in cash											$ 130,000,000	$ 90,000,000
Related party transaction, loan balance										$ 28,725,000
Annual interest rate on loan										5.18%
Interest earned										$ 1,029,000
Affiliates | Property Available for Operating Lease
Related Party Transaction [Line Items]
Rental income								1,462,000
Affiliates | Office Space Leases
Related Party Transaction [Line Items]
Rental income						1,065,000		1,281,000		1,502,000
Rent expense						27,000		32,000		29,000
Receivable balance of rental income						76,000		34,000
Affiliated Companies
Related Party Transaction [Line Items]
Service fee						63,530,000		40,985,000		40,096,000
Accrued service fee						12,312,000		7,197,000
Revenue earned						6,305,000		4,711,000		6,325,000
Receivables for expenses						1,400,000		269,000
Related Party Transactions
Related Party Transaction [Line Items]
Income recognized						14,102,000		16,260,000		16,516,000
Fees receivable						2,217,000		1,281,000
General and administrative expenses						732,000		848,000		$ 1,060,000
Payable to affiliates						50,000		69,000
Business combination, interest acquired					100.00%
Business combination, consideration					$ 2,617,000
Related party, dividend					$ 2,125,000
Capital contribution to insurance subsidiary			$ 250,000	$ 250,000
Additional capital contributions														$ 288,234,000	$ 282,000,000
Quota share reinsurance ceded, percentage														20.00%	100.00%
Related party, derivative gain	$ 3,806,000
Related party, dividend received	$ 455,843,000
Other affiliated entities
Related Party Transaction [Line Items]
Reinsurance recoverables & receivables						128,000		$ 173,000
Allianz Managed Operations And Services of America (AMOSA)
Related Party Transaction [Line Items]
Related party transaction, amount of loan agreement						$ 33,000,000
Annual interest rate on loan						2.03%
Interest earned						$ 488,000
Related party loan, remaining balance						$ 33,000,000
Related party loan, maturity date						Dec. 31, 2019
[1]	See further discussion regarding the sale of the minority interest in Footnote 17.

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Matching percentage of eligible employee pre tax contributions	80.00%
Defined contribution plan, employer matching contribution, percent of match	7.50%	7.50%	7.50%
Defined contribution plan, employers matching contribution, vesting percentage after three years of service	100.00%
Defined contribution plan, employers matching contribution, service period	3 years
Defined contribution plan employers matching contribution	$ 14,204	$ 13,242	$ 11,657
Severance expense	1,079	501	774
Other Liabilities, life insurance benefit	1,057	1,113
Assets held by trust	160	614
Restricted Stock And Stock Appreciation Rights
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Stock-based compensation	9,820	8,429	8,152
Other liabilities, deferred compensation	17,553	21,339
Employee Stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other liabilities, deferred compensation	$ 754	654	$ 482
Aggregate amount of ordinary shares reserved for plan	250,000
Qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other liabilities, deferred compensation	$ 20,108	17,653
Nonqualified Deferred Compensation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other liabilities, deferred compensation	$ 45,171	$ 29,615

Statutory Financial Data and113

Statutory Financial Data and Dividend Restrictions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 5,822,117	$ 5,255,180
Statutory net gain (loss) from operations	$ 2,103,975	$ (192,343)
Statutory restrictions on dividend	In accordance with Minnesota Statutes, the Company may declare and pay from its surplus cash dividends of not more than the greater of 10% of its beginning-of-the-yearstatutory surplus, or the net gain from operations of the insurer, not including realized gains, for the 12-month period ending the 31st day of the next preceding year.
Ordinary dividend which can be paid without approval	$ 2,103,975

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Claim	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Commitments and Contingencies [Line Items]
Number of putative and certified class action proceedings | Claim	1
Class action lawsuits, pending | Claim	1
Open capital commitments	$ 93,180	$ 17,957
Unfunded commitment liability	87,928	16,185
Investments in limited partnership	20,167	7,707
Recognized tax credits related to partnership investments	2,793	1,235	$ 1,220
Operating lease expenses	3,155	2,828	2,760
Accumulated Depreciation	85,899	159,380
Total expense under the agreement	1,167,109	1,537,224	978,316
Commercial Mortgage Backed Securities
Commitments and Contingencies [Line Items]
Capital commitments due within a year	$ 332,773	157,050
Service Agreements
Commitments and Contingencies [Line Items]
Service fee	0.10%
Additional service fee	0.15%
Agreement termination notice period	90 days
Termination period on which service fee continues to be paid	10 years
Total commitment in the event of termination	$ 53,653
Total expense under the agreement	6,677	7,734	5,980
Service Agreements | Yearly
Commitments and Contingencies [Line Items]
Total commitment in the event of termination	5,365
Furniture and Fixtures
Commitments and Contingencies [Line Items]
Cost of furniture and equipment	2,976	2,976
Accumulated Depreciation	2,976	2,357
Depreciation	619	744	$ 745
Private placement
Commitments and Contingencies [Line Items]
Capital commitments due within a year	$ 167,190	$ 188,000

Future Minimum Lease Payments R

Future Minimum Lease Payments Required under Operating Leases (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ 2,130
2,017	1,993
2,018	1,742
2,019	1,230
2,020	838
2021 and beyond	283
Total	$ 8,216

Capital Stock (Detail)

Capital Stock (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Capital Unit [Line Items]
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	20,000,001	20,000,001
Common stock, shares outstanding	20,000,001	20,000,001
Common stock par value, per share	$ 1	$ 1
Preferred Class A
Capital Unit [Line Items]
Preferred stock, shares authorized	200,000,000
Preferred stock, shares issued	18,903,484
Preferred stock, shares outstanding	18,903,484
Preferred stock, redemption rights description	Designated by Board for each series issued
Preferred stock par value, per share	$ 1
Voluntary or involuntary liquidation rights	Designated by Board for each series issued
Class A, Series A preferred stock
Capital Unit [Line Items]
Preferred stock, shares authorized	8,909,195	8,909,195
Preferred stock, shares issued	8,909,195	8,909,195
Preferred stock, shares outstanding	8,909,195	8,909,195
Preferred stock, redemption rights description	$35.02 per share plus an amount to yield a compounded annual return of 6%, after actual dividends paid
Preferred stock par value, per share	$ 1	$ 1
Preferred stock, redemption price per share	$ 35.02
Percentage of redemption right	6.00%
Voluntary or involuntary liquidation rights	$35.02 per share plus an amount to yield a compounded annual return of 6%, after actual dividends paid
Voluntary or involuntary liquidation rights per share	$ 35.02
Percentage of Voluntary or involuntary liquidation rights	6.00%
Class A, Series B preferred stock
Capital Unit [Line Items]
Voluntary or involuntary liquidation rights	$35.02 per share plus an amount to yield a compounded annual return of 6%, after actual dividends paid
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	9,994,289	9,994,289
Preferred stock, shares outstanding	9,994,289	9,994,289
Preferred stock, redemption rights description	$35.02 per share plus an amount to yield a compounded annual return of 6%, after actual dividends paid
Preferred stock par value, per share	$ 1	$ 1
Preferred stock, redemption price per share	$ 35.02
Percentage of redemption right	6.00%
Voluntary or involuntary liquidation rights per share	$ 35.02
Percentage of Voluntary or involuntary liquidation rights	6.00%
Preferred Class B
Capital Unit [Line Items]
Preferred stock, shares authorized	400,000,000
Preferred stock, redemption rights description	Designated by Board for each series issued
Preferred stock par value, per share	$ 1
Voluntary or involuntary liquidation rights	Designated by Board for each series issued

Capital Structure - Additional

Capital Structure - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Capital Unit [Line Items]
Voting rights	One vote per share
Preferred Class A
Capital Unit [Line Items]
Voting rights	One vote per share
Conversion basis of preferred stock to common stock	Each share of Class A preferred stock is convertible into one share of the Company's common stock
Preferred Class B
Capital Unit [Line Items]
Voting rights	No voting rights

Analysis of Foreign Currency Tr

Analysis of Foreign Currency Translation, Net of Tax (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Cumulative Translation Adjustment Summary [Roll Forward]
Beginning amount of cumulative translation adjustments	$ 10,240	$ 12,343	$ 13,993
Aggregate adjustment for the period resulting from translation adjustments	(6,168)	(3,235)	(2,539)
Amount of income tax expense for the period related to aggregate adjustment	2,159	1,132	889
Net aggregate translation included in equity	(4,009)	(2,103)	(1,650)
Ending amount of cumulative translation adjustments	$ 6,231	$ 10,240	$ 12,343
Canadian foreign exchange rate at end of year	0.71989	0.86337	0.94120

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015Subsidiary
Number of Wholly owned subsidiaries owned by Questar segment	2

Unconsolidated Segment Results

Unconsolidated Segment Results (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Net premiums and policy fees	$ 1,449,591	$ 1,408,097	$ 1,288,373
Interest and similar income, net	4,180,103	3,957,298	3,592,117
Change in fair value of assets and liabilities	(532,720)	1,841,989	921,265
Realized investment gains, net	94,413	77,762	188,297
Fee, commission, and other revenue	303,399	311,820	306,779
Total revenue (loss)	5,494,786	7,596,966	6,296,831
Benefits and expenses:
Net benefits and expenses	2,603,094	5,875,825	3,704,019
General and administrative and commission	1,809,071	2,214,039	1,641,635
Change in deferred acquisition costs, net	239,259	(673,086)	206,699
Total benefits and expenses	4,651,424	7,416,778	5,552,353
Pretax income (loss)	843,362	180,188	744,478
Operating Segments | Annuities
Revenue:
Net premiums and policy fees	1,133,285	1,148,803	1,050,072
Interest and similar income, net	4,004,121	3,799,849	3,464,951
Change in fair value of assets and liabilities	(492,479)	1,805,611	843,121
Realized investment gains, net	90,948	74,926	172,940
Fee, commission, and other revenue	236,454	246,021	239,692
Total revenue (loss)	4,972,329	7,075,210	5,770,776
Benefits and expenses:
Net benefits and expenses	2,296,057	5,582,740	3,378,366
General and administrative and commission	1,554,120	1,964,597	1,408,107
Change in deferred acquisition costs, net	279,582	(615,902)	264,068
Total benefits and expenses	4,129,759	6,931,435	5,050,541
Pretax income (loss)	842,570	143,775	720,235
Operating Segments | Life
Revenue:
Net premiums and policy fees	172,660	117,950	104,715
Interest and similar income, net	103,419	90,088	71,125
Change in fair value of assets and liabilities	(38,553)	41,292	77,920
Realized investment gains, net	1,597	1,579	2,227
Fee, commission, and other revenue	186	474	583
Total revenue (loss)	239,309	251,383	256,570
Benefits and expenses:
Net benefits and expenses	114,377	147,348	180,923
General and administrative and commission	165,479	162,973	136,417
Change in deferred acquisition costs, net	(53,642)	(72,109)	(71,632)
Total benefits and expenses	226,214	238,212	245,708
Pretax income (loss)	13,095	13,171	10,862
Operating Segments | Questar
Revenue:
Interest and similar income, net	3	(17)	(16)
Realized investment gains, net		1	8
Fee, commission, and other revenue	105,830	102,234	93,485
Total revenue (loss)	105,833	102,218	93,477
Benefits and expenses:
General and administrative and commission	110,624	111,967	110,633
Total benefits and expenses	110,624	111,967	110,633
Pretax income (loss)	(4,791)	(9,749)	(17,156)
Operating Segments | Legacy
Revenue:
Net premiums and policy fees	143,646	141,344	133,586
Interest and similar income, net	72,560	67,378	56,057
Change in fair value of assets and liabilities	(1,688)	(4,914)	224
Realized investment gains, net	1,868	1,256	13,122
Fee, commission, and other revenue	253	6,217	6,207
Total revenue (loss)	216,639	211,281	209,196
Benefits and expenses:
Net benefits and expenses	192,660	145,737	144,730
General and administrative and commission	18,172	17,628	19,666
Change in deferred acquisition costs, net	13,319	14,925	14,263
Total benefits and expenses	224,151	178,290	178,659
Pretax income (loss)	(7,512)	32,991	30,537
Eliminations
Revenue:
Fee, commission, and other revenue	(39,324)	(43,126)	(33,188)
Total revenue (loss)	(39,324)	(43,126)	(33,188)
Benefits and expenses:
General and administrative and commission	(39,324)	(43,126)	(33,188)
Total benefits and expenses	$ (39,324)	$ (43,126)	$ (33,188)

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,777,145	$ 1,002,784
OCI before reclassifications	(1,258,848)	826,520
Amounts reclassified from AOCI	(29,347)	(52,159)
Total other comprehensive (loss) income	(1,288,195)	774,361	$ (1,230,121)
Ending balance	488,950	1,777,145	1,002,784
Net Unrealized Gain On Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	1,755,998	980,777
OCI before reclassifications	(1,260,909)	825,079
Amounts reclassified from AOCI	(27,766)	(49,858)
Total other comprehensive (loss) income	(1,288,675)	775,221
Ending balance	467,323	1,755,998	980,777
OTTI Losses In OCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	9,608	8,814
OCI before reclassifications	(2,958)	3,114
Amounts reclassified from AOCI	(1,597)	(2,320)
Total other comprehensive (loss) income	(4,555)	794
Ending balance	5,053	9,608	8,814
Net Gain (loss) on Cash Flow Hedging Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	1,475	1,020
OCI before reclassifications	8,933	455
Total other comprehensive (loss) income	8,933	455
Ending balance	10,408	1,475	1,020
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	10,240	12,343
OCI before reclassifications	(4,009)	(2,103)
Total other comprehensive (loss) income	(4,009)	(2,103)
Ending balance	6,231	10,240	12,343
Pension And Postretirement Plan Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(176)	(170)
OCI before reclassifications	95	(25)
Amounts reclassified from AOCI	16	19
Total other comprehensive (loss) income	111	(6)
Ending balance	$ (65)	$ (176)	$ (170)

Reclassifications From Accumula

Reclassifications From Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities	$ (153,388)	$ (84,207)	$ (203,345)
Amount Reclassified from AOCI, OTTI Losses in OCI, Other than temporary impairments	58,975	6,445	15,048
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, tax	(243,066)	(24,723)	(203,292)
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, net	(600,296)	(155,465)	$ (541,186)
Amount Reclassified from AOCI, pension and other postretirement plan adjustments, net	29,347	52,159
Net Unrealized Gain On Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, pension and other postretirement plan adjustments, net	27,766	49,858
OTTI Losses In OCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, pension and other postretirement plan adjustments, net	1,597	2,320
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gain On Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities	42,717	76,705
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, tax	14,951	26,847
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, net	27,766	49,858
Reclassification out of Accumulated Other Comprehensive Income | OTTI Losses In OCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, OTTI Losses in OCI, Other than temporary impairments	2,457	3,569
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, tax	860	1,249
Amount Reclassified from AOCI, Net unrealized gain on securities, available-for-sale-securities, net	1,597	2,320
Reclassification out of Accumulated Other Comprehensive Income | Pension and Other postretirement Plan Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount Reclassified from AOCI, pension and other postretirement plan adjustments	(25)	(29)
Amount Reclassified from AOCI, Amortization of actuarial gains (losses)	9	(10)
Amount Reclassified from AOCI, pension and other postretirement plan adjustments, net	$ (16)	$ (19)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event - USD ($) $ in Thousands	Feb. 02, 2016	Feb. 23, 2016
Subsequent Event [Line Items]
Business combination, interest acquired	100.00%
Business combination, consideration	$ 7,500
AZOA
Subsequent Event [Line Items]
Cash dividend approved		$ 600,000
Allianz Managed Operations And Services of America (AMOSA)
Subsequent Event [Line Items]
Cash dividend approved		33,000
Related party loan, accrued interest		$ 150

Schedule I Investments Other Th

Schedule I Investments Other Than Investments in Related Parties (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	$ 89,484,359	[1]
Fair Value	91,337,407
Amount at which shown in the consolidated balance sheets	91,030,336
Equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	370,022	[1]
Fair Value	361,427
Amount at which shown in the consolidated balance sheets	361,427
Equity securities | Trading Securities | Common stocks, Industrial and miscellaneous
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	299,017	[1]
Fair Value	292,816
Amount at which shown in the consolidated balance sheets	292,816
Equity securities | Available-for-sale Securities | Common stocks, Industrial and miscellaneous
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	71,005	[1]
Fair Value	68,611
Amount at which shown in the consolidated balance sheets	68,611
Other Investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	9,897,275	[1]
Fair Value	10,199,122
Amount at which shown in the consolidated balance sheets	9,897,275
Other Investments | Mortgage Receivable
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	8,788,018	[1]
Fair Value	9,042,293
Amount at which shown in the consolidated balance sheets	8,788,018
Other Investments | Short-term Investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	4,454	[1]
Fair Value	4,454
Amount at which shown in the consolidated balance sheets	4,454
Other Investments | Derivative
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	591,609	[1]
Fair Value	591,609
Amount at which shown in the consolidated balance sheets	591,609
Other Investments | Loans Related to Affiliated Companies and Other Companies
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	33,005	[1]
Fair Value	32,733
Amount at which shown in the consolidated balance sheets	33,005
Other Investments | Policy loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	163,129	[1]
Fair Value	163,129
Amount at which shown in the consolidated balance sheets	163,129
Other Investments | Acquired Loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	224,083	[1]
Fair Value	271,927
Amount at which shown in the consolidated balance sheets	224,083
Other Investments | Other invested assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	92,977	[1]
Fair Value	92,977
Amount at which shown in the consolidated balance sheets	92,977
Fixed-maturity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	79,217,062	[1]
Fair Value	80,776,858
Amount at which shown in the consolidated balance sheets	80,771,634
Fixed-maturity securities | Trading Securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	36,474	[1]
Fair Value	37,111
Amount at which shown in the consolidated balance sheets	37,111
Fixed-maturity securities | Trading Securities | U.S. Government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	36,474	[1]
Fair Value	37,111
Amount at which shown in the consolidated balance sheets	37,111
Fixed-maturity securities | Available-for-sale Securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	79,180,533	[1]
Fair Value	80,734,468
Amount at which shown in the consolidated balance sheets	80,734,468
Fixed-maturity securities | Available-for-sale Securities | U.S. Government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,682,642	[1]
Fair Value	1,755,324
Amount at which shown in the consolidated balance sheets	1,755,324
Fixed-maturity securities | Available-for-sale Securities | Non Government backed Securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	10,474	[1]
Fair Value	10,514
Amount at which shown in the consolidated balance sheets	10,514
Fixed-maturity securities | Available-for-sale Securities | States and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	8,533,503	[1]
Fair Value	8,998,534
Amount at which shown in the consolidated balance sheets	8,998,534
Fixed-maturity securities | Available-for-sale Securities | Foreign Government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	269,608	[1]
Fair Value	272,167
Amount at which shown in the consolidated balance sheets	272,167
Fixed-maturity securities | Available-for-sale Securities | Public Utility, Bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	5,798,475	[1]
Fair Value	6,222,198
Amount at which shown in the consolidated balance sheets	6,222,198
Fixed-maturity securities | Available-for-sale Securities | Corporate securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	50,603,848	[1]
Fair Value	50,946,485
Amount at which shown in the consolidated balance sheets	50,946,485
Fixed-maturity securities | Available-for-sale Securities | Mortgage-backed securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	12,263,037	[1]
Fair Value	12,497,799
Amount at which shown in the consolidated balance sheets	12,497,799
Fixed-maturity securities | Available-for-sale Securities | Collateralized mortgage obligations
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	9,208	[1]
Fair Value	10,283
Amount at which shown in the consolidated balance sheets	10,283
Fixed-maturity securities | Available-for-sale Securities | Collateralized debt obligations
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	9,738	[1]
Fair Value	21,164
Amount at which shown in the consolidated balance sheets	21,164
Fixed-maturity securities | Held-to-maturity Securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	55	[1]
Fair Value	5,279
Amount at which shown in the consolidated balance sheets	55
Fixed-maturity securities | Held-to-maturity Securities | Corporate securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fair Value	5,214
Fixed-maturity securities | Held-to-maturity Securities | Collateralized debt obligations
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	55	[1]
Fair Value	65
Amount at which shown in the consolidated balance sheets	$ 55
[1]	Original cost of equity securities and, as to fixed-maturities, original cost reduced by repayments and adjusted for amortization of premiums, accrual discounts, or impairments.

Schedule II Supplementary Insur

Schedule II Supplementary Insurance Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs	$ 6,283,236	$ 4,362,771	$ 4,820,215
Deferred sales inducements	1,110,192	847,000	1,076,530	$ 673,944
Account balances and future policy benefit reserves	97,314,497	91,358,761	78,125,212
Unearned premiums	154,116	130,701	135,639
Policy and contract claims	517,925	443,444	416,109
Net premium and policy fees	1,449,591	1,408,097	1,288,373
Interest and similar income, net	4,180,103	3,957,298	3,592,117
Net benefits	2,400,684	5,871,566	3,631,477
Net change in deferred sales inducements	202,410	4,259	72,542
Net change in policy acquisition costs	239,259	(673,086)	206,699
Other operating expenses	1,809,071	2,214,039	1,641,635
Annuities
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs	5,766,176	3,934,701	4,415,572
Deferred sales inducements	1,108,877	843,545	1,072,742
Account balances and future policy benefit reserves	90,734,164	85,548,020	72,954,916
Unearned premiums	25,620	1,164	24,392
Net premium and policy fees	1,133,285	1,148,803	1,050,072
Interest and similar income, net	4,004,121	3,799,849	3,464,952
Net benefits	2,095,788	5,578,815	3,304,991
Net change in deferred sales inducements	200,269	3,925	73,375
Net change in policy acquisition costs	279,582	(615,902)	264,068
Other operating expenses	1,514,797	1,930,071	1,382,537
Life
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs	486,195	384,073	345,008
Deferred sales inducements	1,315	3,455	3,788
Account balances and future policy benefit reserves	2,678,431	2,255,751	1,843,616
Unearned premiums	70,621	74,207	57,647
Policy and contract claims	3,335	4,187	3,220
Net premium and policy fees	172,660	117,950	104,715
Interest and similar income, net	103,419	90,088	71,125
Net benefits	112,236	147,014	181,756
Net change in deferred sales inducements	2,141	334	(833)
Net change in policy acquisition costs	(53,642)	(72,109)	(71,632)
Other operating expenses	165,478	154,983	128,799
Questar
Supplementary Insurance Information, by Segment [Line Items]
Interest and similar income, net	3	(17)	(16)
Other operating expenses	110,624	111,967	110,633
Legacy
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs	30,865	43,997	59,635
Account balances and future policy benefit reserves	3,901,902	3,554,990	3,326,680
Unearned premiums	57,875	55,330	53,600
Policy and contract claims	514,590	439,257	412,889
Net premium and policy fees	143,646	141,344	133,586
Interest and similar income, net	72,560	67,378	56,056
Net benefits	192,660	145,737	144,730
Net change in policy acquisition costs	13,319	14,925	14,263
Other operating expenses	$ 18,172	$ 17,018	$ 19,666

Scedule III Reinsurance (Detail

Scedule III Reinsurance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Life insurance in force, Direct amount	$ 30,774,840	$ 28,518,136	$ 26,107,972
Life insurance in force, Ceded to other companies	21,809,292	19,851,269	17,815,125
Life insurance in force, Assumed from other companies	60,469	67,484	80,931
Life insurance in force, Net amount	$ 9,026,017	$ 8,734,351	$ 8,373,778
Life insurance in force, Percentage of amount assumed to net	0.70%	0.80%	1.00%
Premiums and policy fees, Direct amount	$ 1,539,358	$ 1,497,716	$ 1,380,404
Premiums and policy fees, Ceded to other companies	125,286	120,221	119,767
Premiums and policy fees, Assumed from other companies	35,519	30,602	27,736
Premiums and policy fees, Net amount	$ 1,449,591	$ 1,408,097	$ 1,288,373
Premiums and policy fees, Percentage of amount assumed to net	2.50%	2.20%	2.20%
Life
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Premiums and policy fees, Direct amount	$ 219,959	$ 162,098	$ 149,803
Premiums and policy fees, Ceded to other companies	45,746	41,659	42,857
Premiums and policy fees, Assumed from other companies	683	779	606
Premiums and policy fees, Net amount	$ 174,896	$ 121,218	$ 107,552
Premiums and policy fees, Percentage of amount assumed to net	0.40%	0.60%	0.60%
Annuities
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Premiums and policy fees, Direct amount	$ 1,130,514	$ 1,145,637	$ 1,046,313
Premiums and policy fees, Ceded to other companies	(1,447)	(1,445)	(1,966)
Premiums and policy fees, Assumed from other companies	(442)	(153)	(468)
Premiums and policy fees, Net amount	1,131,519	1,146,929	1,047,811
Accident and health
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Premiums and policy fees, Direct amount	188,885	189,981	184,288
Premiums and policy fees, Ceded to other companies	80,987	80,007	78,876
Premiums and policy fees, Assumed from other companies	35,278	29,976	27,598
Premiums and policy fees, Net amount	$ 143,176	$ 139,950	$ 133,010
Premiums and policy fees, Percentage of amount assumed to net	24.60%	21.40%	20.70%