American National 10-Q6 Aug 192019 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 31, 2019
Cover page.
Entity Registrant Name	AMERICAN NATIONAL INSURANCE CO /TX/
Entity Central Index Key	0000904163
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-34280
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-0484030
Entity Address, Address Line One	One Moody Plaza
Entity Address, City or Town	Galveston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77550-7999
City Area Code	409
Local Phone Number	763-4661
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	ANAT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,887,200

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Fixed maturity, bonds held-to-maturity, at amortized cost (Fair value $8,668,599 and $8,130,084)	$ 8,394,157	$ 8,211,449
Fixed maturity, bonds available-for-sale, at fair value (Amortized cost $6,609,357 and $6,261,621)	6,842,917	6,215,563
Equity securities, at fair value (Cost $685,095 and $714,504)	1,672,394	1,530,228
Mortgage loans on real estate, net of allowance	5,014,710	5,124,707
Policy loans	377,669	376,254
Investment real estate, net of accumulated depreciation of $280,597 and $267,920	582,756	587,516
Short-term investments	597,183	206,760
Other invested assets	54,018	50,087
Total investments	23,535,804	22,302,564
Cash and cash equivalents	312,835	268,164
Investments in unconsolidated affiliates	622,587	571,897
Accrued investment income	197,574	188,630
Reinsurance recoverables	437,152	427,475
Prepaid reinsurance premiums	50,994	53,622
Premiums due and other receivables	364,018	345,705
Deferred policy acquisition costs	1,486,347	1,497,261
Property and equipment, net of accumulated depreciation of $245,609 and $236,922	106,694	109,472
Current tax receivable	0	8,855
Prepaid pension	61,587	57,117
Other assets	181,627	163,222
Separate account assets	1,028,961	918,369
Total assets	28,386,180	26,912,353
LIABILITIES
Life	3,065,431	3,047,421
Annuity	1,569,789	1,524,006
Health	50,372	51,347
Policyholders’ account balances	13,089,053	12,461,833
Policy and contract claims	1,477,780	1,481,294
Unearned premium reserve	953,324	908,856
Other policyholder funds	348,638	318,948
Liability for retirement benefits	72,448	73,631
Notes payable	159,577	137,963
Deferred tax liabilities, net	373,700	264,185
Current tax payable	1,370	0
Other liabilities	428,155	452,985
Separate account liabilities	1,028,961	918,369
Total liabilities	22,618,598	21,640,838
American National stockholders’ equity:
Common stock, $1.00 par value, - Authorized 50,000,000, Issued 30,832,449 and 30,832,449 Outstanding 26,887,200 and 26,885,449 shares	30,832	30,832
Additional paid-in capital	20,971	20,694
Accumulated other comprehensive income (loss)	86,852	(99,738)
Retained earnings	5,727,649	5,413,952
Treasury stock, at cost	(108,469)	(108,492)
Total American National stockholders’ equity	5,757,835	5,257,248
Noncontrolling interest	9,747	14,267
Total equity	5,767,582	5,271,515
Total liabilities and equity	$ 28,386,180	$ 26,912,353

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fair value of bonds held-to-maturity	$ 8,668,599	$ 8,130,084
Amortized cost of bonds available-for-sale	6,609,357	6,261,621
Cost of equity securities	685,095	714,504
Accumulated depreciation of investment real estate	280,597	267,920
Property and equipment, net of accumulated depreciation	$ 245,609	$ 236,922
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	30,832,449	30,832,449
Common stock, shares outstanding (in shares)	26,887,200	26,885,449

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Premiums
Life	$ 86,087	$ 84,595	$ 172,555	$ 165,971
Annuity	56,222	67,228	96,129	137,844
Health	42,224	48,870	80,905	89,885
Property and casualty	371,739	360,047	742,920	712,020
Other policy revenues	75,146	71,138	149,394	142,477
Net investment income	257,730	246,741	550,076	455,410
Net realized investment gains (losses)	(2,937)	5,007	10	6,051
Other-than-temporary impairments	6,968	0	6,968	0
Net gains on equity securities	67,060	57,162	273,437	23,992
Other income	10,374	11,283	21,912	21,796
Total premiums and other revenues	956,677	952,071	2,080,370	1,755,446
Policyholder benefits
Life	104,462	96,958	213,927	195,504
Annuity	72,788	82,103	131,549	166,849
Claims incurred
Health	26,708	32,310	52,475	60,450
Property and casualty	271,608	280,126	509,752	522,616
Interest credited to policyholders’ account balances	123,687	105,731	264,921	176,276
Commissions for acquiring and servicing policies	141,295	149,737	279,940	294,433
Other operating expenses	129,533	123,947	263,143	254,341
Change in deferred policy acquisition costs	(17,308)	(20,116)	(23,939)	(37,082)
Total benefits, losses and expenses	852,773	850,796	1,691,768	1,633,387
Income before federal income tax and other items	103,904	101,275	388,602	122,059
Less: Provision for federal income taxes
Current	14,231	15,638	28,011	13,533
Deferred	7,717	6,319	61,314	9,613
Total provision for federal income taxes	21,948	21,957	89,325	23,146
Income after federal income tax	81,956	79,318	299,277	98,913
Equity in earnings of unconsolidated affiliates	16,790	6,421	57,250	5,876
Other components of net periodic pension costs, net of tax	(871)	(1,677)	(1,785)	(2,469)
Net income	97,875	84,062	354,742	102,320
Less: Net loss attributable to noncontrolling interest, net of tax	(965)	(77)	(2,315)	(596)
Net income attributable to American National	$ 98,840	$ 84,139	$ 357,057	$ 102,916
Earnings per share
Basic (in usd per share)	$ 3.68	$ 3.13	$ 13.28	$ 3.83
Diluted (in usd per share)	3.67	3.12	13.28	3.82
Cash dividends to common stockholders (in usd per share)	$ 0.82	$ 0.82	$ 1.64	$ 1.64
Weighted average common shares outstanding (in shares)	26,881,700	26,883,276	26,883,699	26,886,196
Weighted average common shares outstanding and dilutive potential common shares (in shares)	26,888,964	26,910,257	26,889,936	26,933,123

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 97,875	$ 84,062	$ 354,742	$ 102,320
Other comprehensive income (loss), net of tax
Change in net unrealized gains (losses) on securities	98,360	(36,388)	183,874	(127,721)
Foreign currency transaction and translation adjustments	746	(134)	590	(500)
Defined benefit pension plan adjustment	1,495	1,601	2,911	2,390
Total other comprehensive income (loss), net of tax	100,601	(34,921)	187,375	(125,831)
Total comprehensive income (loss)	198,476	49,141	542,117	(23,511)
Less: Comprehensive loss attributable to noncontrolling interest	(965)	(77)	(2,315)	(596)
Total comprehensive income (loss) attributable to American National	$ 199,441	$ 49,218	$ 544,432	$ (22,915)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Noncontrolling Interest
Balance at beginning of the period at Dec. 31, 2017	$ 5,255,771	$ 30,832	$ 19,193	$ 642,216	$ 4,656,134	$ (101,616)	$ 9,012
Stockholders' Equity [Roll Forward]
Reissuance of treasury shares	745		675			70
Amortization of restricted stock	201		201
Cumulative effect of accounting change	59,931			(637,376)	697,307
Other comprehensive income	(90,910)			(90,910)
Net income attributable to American National	18,777				18,777
Cash dividends to common stockholders	(22,089)				(22,089)
Distributions	(397)						(397)
Net loss attributable to noncontrolling interest	(519)						(519)
Balance at end of the period at Mar. 31, 2018	5,221,510	30,832	20,069	(86,070)	5,350,129	(101,546)	8,096
Balance at beginning of the period at Dec. 31, 2017	5,255,771	30,832	19,193	642,216	4,656,134	(101,616)	9,012
Stockholders' Equity [Roll Forward]
Other comprehensive income	(125,831)
Net income attributable to American National	102,916
Balance at end of the period at Jun. 30, 2018	5,242,067	30,832	20,650	(110,734)	5,401,965	(108,492)	7,846
Balance at beginning of the period at Mar. 31, 2018	5,221,510	30,832	20,069	(86,070)	5,350,129	(101,546)	8,096
Stockholders' Equity [Roll Forward]
Reissuance of treasury shares	(6,448)		498			(6,946)
Amortization of restricted stock	83		83
Cumulative effect of accounting change	1			10,257	(10,256)
Other comprehensive income	(34,921)			(34,921)
Net income attributable to American National	84,139				84,139
Cash dividends to common stockholders	(22,047)				(22,047)
Contributions	0
Distributions	(173)						(173)
Net loss attributable to noncontrolling interest	(77)						(77)
Balance at end of the period at Jun. 30, 2018	5,242,067	30,832	20,650	(110,734)	5,401,965	(108,492)	7,846
Balance at beginning of the period at Dec. 31, 2018	5,271,515	30,832	20,694	(99,738)	5,413,952	(108,492)	14,267
Stockholders' Equity [Roll Forward]
Reissuance of treasury shares	260		237			23
Amortization of restricted stock	20		20
Cumulative effect of accounting change	0			(785)	785
Other comprehensive income	86,774			86,774
Net income attributable to American National	258,217				258,217
Cash dividends to common stockholders	(22,101)				(22,101)
Contributions	3						3
Distributions	(419)						(419)
Net loss attributable to noncontrolling interest	(1,350)						(1,350)
Balance at end of the period at Mar. 31, 2019	5,592,919	30,832	20,951	(13,749)	5,650,853	(108,469)	12,501
Balance at beginning of the period at Dec. 31, 2018	5,271,515	30,832	20,694	(99,738)	5,413,952	(108,492)	14,267
Stockholders' Equity [Roll Forward]
Other comprehensive income	187,375
Net income attributable to American National	357,057
Balance at end of the period at Jun. 30, 2019	5,767,582	30,832	20,971	86,852	5,727,649	(108,469)	9,747
Balance at beginning of the period at Mar. 31, 2019	5,592,919	30,832	20,951	(13,749)	5,650,853	(108,469)	12,501
Stockholders' Equity [Roll Forward]
Amortization of restricted stock	20		20
Other comprehensive income	100,601			100,601
Net income attributable to American National	98,840				98,840
Cash dividends to common stockholders	(22,044)				(22,044)
Contributions	168						168
Distributions	(1,957)						(1,957)
Net loss attributable to noncontrolling interest	(965)						(965)
Balance at end of the period at Jun. 30, 2019	$ 5,767,582	$ 30,832	$ 20,971	$ 86,852	$ 5,727,649	$ (108,469)	$ 9,747

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income	$ 354,742	$ 102,320
Adjustments to reconcile net income to net cash provided by operating activities
Net realized investment gains	(10)	(6,051)
Other-than-temporary impairments	6,968	0
Accretion of premiums, discounts and loan origination fees	(2,547)	(4,736)
Net capitalized interest on policy loans and mortgage loans	(18,397)	(20,555)
Depreciation	30,621	25,783
Interest credited to policyholders’ account balances	264,921	176,276
Charges to policyholders’ account balances	(149,394)	(142,477)
Deferred federal income tax expense	61,314	9,613
Equity in earnings of unconsolidated affiliates	(57,250)	(5,876)
Distributions from equity method investments	64,224	371
Changes in
Policyholder liabilities	120,652	205,125
Deferred policy acquisition costs	(23,939)	(37,082)
Reinsurance recoverables	(9,677)	(17,543)
Premiums due and other receivables	(18,313)	(46,680)
Prepaid reinsurance premiums	2,627	7,835
Accrued investment income	(8,945)	(3,559)
Current tax receivable/payable	10,223	43,453
Liability for retirement benefits	(1,969)	(2,479)
Fair value of option securities	(89,608)	(7,534)
Fair value of equity securities	(273,437)	(23,992)
Other, net	(31,034)	1,911
Net cash provided by operating activities	231,772	254,123
Proceeds from sale/maturity/prepayment of
Held-to-maturity securities	299,968	395,053
Available-for-sale securities	164,925	277,143
Equity securities	149,397	24,369
Investment real estate	6,713	11,577
Mortgage loans	405,768	219,153
Policy loans	22,873	28,747
Other invested assets	41,262	50,238
Disposals of property and equipment	69	0
Distributions from unconsolidated affiliates	37,309	10,105
Payment for the purchase/origination of
Held-to-maturity securities	(647,367)	(780,263)
Available-for-sale securities	(355,920)	(317,902)
Equity securities	(18,280)	(36,894)
Investment real estate	(19,520)	(23,640)
Mortgage loans	(283,312)	(561,586)
Policy loans	(12,033)	(12,886)
Other invested assets	(38,768)	(46,212)
Additions to property and equipment	(9,494)	(8,825)
Contributions to unconsolidated affiliates	(111,620)	(56,907)
Change in short-term investments	(390,423)	355,880
Change in collateral held for derivatives	83,169	(1,532)
Other, net	1,397	(5,739)
Net cash used in investing activities	(673,887)	(480,121)
FINANCING ACTIVITIES
Policyholders’ account deposits	1,288,581	973,556
Policyholders’ account withdrawals	(776,888)	(636,727)
Change in notes payable	21,614	(728)
Dividends to stockholders	(44,145)	(44,136)
Payments to noncontrolling interest	(2,376)	(570)
Net cash provided by financing activities	486,786	291,395
NET INCREASE IN CASH AND CASH EQUIVALENTS	44,671	65,397
Beginning of the period	268,164	375,837
End of the period	$ 312,835	$ 441,234

Nature of Operations

Nature of Operations	6 Months Ended
Nature of Operations	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations American National Insurance Company and its consolidated subsidiaries (collectively “American National” or “the Company”) offer a broad portfolio of insurance products, including individual and group life insurance, annuities, health insurance, and property and casualty insurance. Business is conducted in all 50

Summary of Significant Accounti

Summary of Significant Accounting Policies and Practices	6 Months Ended
Summary of Significant Accounting Policies and Practices	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Practices	Summary of Significant Accounting Policies and Practices The consolidated financial statements and notes thereto have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and are reported in U.S. currency. American National consolidates entities that are wholly-owned and those in which American National owns less than 100% but controls the voting rights, as well as variable interest entities in which American National is the primary beneficiary. Intercompany balances and transactions with consolidated entities have been eliminated. Investments in unconsolidated affiliates are accounted for using the equity method of accounting. Certain amounts in prior years have been reclassified to conform to current year presentation. The interim consolidated financial statements and notes herein are unaudited and reflect all adjustments which management considers necessary for the fair presentation of the interim consolidated statements of financial position, operations, comprehensive income, changes in equity, and cash flows. The interim consolidated financial statements and notes should be read in conjunction with the annual consolidated financial statements and notes thereto included in American National’s Annual Report on Form 10-K as of and for the year ended December 31, 2018 . The consolidated results of operations for the interim periods should not be considered indicative of results to be expected for the full year.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
Recently Issued Accounting Pronouncements	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adoption of New Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, "Revenue from Contracts with Customers" that superseded most existing revenue recognition requirements in GAAP. Insurance contracts generally are excluded from the scope of the guidance. For those contracts which are impacted, the transaction price is attributed to the underlying performance obligations in the contract and revenue is recognized as the entity satisfies the performance obligations and transfers control of a good or service to the customer. The Company’s revenues include premiums, other policy revenues, net investment income, realized investment gains, and other income. Other income includes fee income which is recognized when obligations under the terms specified within a contract with a customer are either (1) satisfied at a point in time or (2) based upon the progress of completion measured over a period of time as the obligation is performed using the input method. The Company adopted the standard on its required effective date of January 1, 2018 using the modified retrospective approach. The majority of our revenue sources are insurance related and not in the scope of the guidance. The adoption of the standard did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the six months ended June 30, 2019 . In January 2016, the FASB issued ("ASU") 2016-01, "Financial Instruments", which changed certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The new guidance requires that equity investments, other than those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value with the changes in fair value recognized through earnings. When the fair value option has been elected for financial liabilities, changes in fair value due to instrument-specific credit risk will be recognized separately in other comprehensive income. The guidance also simplifies the impairment assessment of equity investments and eliminates the disclosure requirements for methods and significant assumptions used to estimate fair value of financial instruments that are measured at amortized cost on the statement of financial position. The Company adopted the standard on its required effective date of January 1, 2018 using a modified retrospective approach. Upon adoption, cumulative unrealized gains on equity securities, net of tax, of $667.7 million , partially offset by $30.4 million participating policyholders’ interest, net of tax, related to unrealized gains and losses on equity securities, were reclassified from accumulated other comprehensive income to retained earnings. In April 2018, an additional $10.2 million deferred policy acquisition cost adjustment, net of tax, related to net unrealized gains and losses on equity securities, was reclassified from accumulated other comprehensive income to retained earnings. The change in net gains on equity securities increased earnings by $216.0 million and $19.0 million , net of tax, for the six months ended June 30, 2019 and 2018, respectively. In October of 2016, the FASB issued ASU 2016-16, “Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory,” which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Prior guidance prohibited the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset was sold to an outside party. The Company adopted the standard on its required effective date of January 1, 2018 using a modified retrospective approach. Upon adoption, a liability was released and retained earnings increased by $59.9 million . In February 2016, the FASB issued ASU 2016-02, “Leases,” that required significant changes to the statement of financial position of lessees. The new standard required lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether the lease is effectively a financed purchase by the lessee. This classification is used to determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months, regardless of their classification. Lessor accounting was less affected by the standard but was updated to align with certain changes in the lessee model and the new revenue recognition standard. The Company adopted the standard on its required effective date of January 1, 2019 using the effective date method, which required a cumulative-effect adjustment to the opening balance of retained earnings. We elected certain practical expedients permitted under the transition guidance. Upon adoption, the Company recorded a right-of-use asset and liability of $13.1 million . In February 2018, the FASB issued ASU 2018-02, “Income Statement-Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The standard was adopted on its required effective date of January 1, 2019 and resulted in a $0.8 million increase in retained earnings and a corresponding decrease to accumulated other comprehensive income. Future Adoption of New Accounting Standards — The FASB issued the following accounting guidance relevant to American National: In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments,” which will significantly change how entities measure credit losses for most financial assets, reinsurance recoverables and certain other instruments that are not measured at fair value through net income. The guidance will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For available-for-sale debt securities, entities will be required to record allowances rather than a direct write down of the investment, as required by the current other-than-temporary impairment model. The standard also requires additional disclosures. This standard will become effective for the Company for all annual and interim periods beginning January 1, 2020. The Company is in the process of determining the impact of adopting the standard on our results of operations and financial position. In August 2018, the FASB issued ASU 2018-12, “Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts,” that seeks to improve financial reporting for insurance companies that issue long-duration contracts. The guidance will improve the timeliness of recognizing changes in the liability for future policy benefits for traditional and limited payment long-duration contracts and will modify the rate used to discount future cash flows. The guidance will also simplify and improve accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, simplify the amortization of deferred acquisition costs and add significant qualitative and quantitative disclosures. This standard will become effective for the Company for all annual and interim periods beginning January 1, 2021. This standard could have a material impact on our results of operations and financial position. The FASB met on July 17, 2019 and proposed delaying the effective date of ASU 2018-12 until January 1, 2022. This proposal is pending final adoption. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement,” guidance that modifies the disclosure requirements on fair value measurements. Certain disclosure requirements are removed, modified or added to improve the relevancy of the fair value measurement disclosures. The new standard will become effective for the Company for all interim and annual periods beginning January 1, 2020. The Company does not expect the adoption of this guidance to have a material impact on the results of operations or financial position. In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General: Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans,” which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance removes certain defined benefit pension or other postretirement plan disclosures that are no longer cost beneficial, clarifies the specific requirements for each disclosure and adds disclosure requirements that are considered relevant. This standard will become effective for all annual periods beginning January 1, 2021. The Company does not expect the adoption of this standard to have a material impact on our results of operations or financial position. In August 2018, the FASB issued ASU 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which seeks to align the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Current GAAP does not specifically address the implementation costs of a cloud computing arrangement that is service contract. This standard will become effective for the Company for all interim and annual periods beginning January 1, 2021. The Company is in the process of determining the impact of adopting the standard.

Investment in Securities

Investment in Securities	6 Months Ended
Investment in Securities	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investment in Securities	The cost or amortized cost and fair value of investments in securities are shown below (in thousands): June 30, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 207,563 $ 7,146 $ (52 ) $ 214,657 Foreign governments 3,934 492 — 4,426 Corporate debt securities 7,849,211 267,162 (10,580 ) 8,105,793 Residential mortgage-backed securities 205,408 8,109 (737 ) 212,780 Collateralized debt securities 127,892 2,944 (43 ) 130,793 Other debt securities 149 1 — 150 Total bonds held-to-maturity 8,394,157 285,854 (11,412 ) 8,668,599 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,300 489 (44 ) 28,745 U.S. states and political subdivisions 1,063,172 42,859 — 1,106,031 Foreign governments 5,000 1,361 — 6,361 Corporate debt securities 5,479,173 203,949 (16,576 ) 5,666,546 Residential mortgage-backed securities 24,006 848 (169 ) 24,685 Collateralized debt securities 9,706 843 — 10,549 Total bonds available-for-sale 6,609,357 250,349 (16,789 ) 6,842,917 Total investments in securities $ 15,003,514 $ 536,203 $ (28,201 ) $ 15,511,516 December 31, 2018 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 245,360 $ 5,840 $ (301 ) $ 250,899 Foreign governments 3,961 469 — 4,430 Corporate debt securities 7,640,891 58,772 (150,834 ) 7,548,829 Residential mortgage-backed securities 315,306 7,237 (2,633 ) 319,910 Collateralized debt securities 5,214 71 — 5,285 Other debt securities 717 14 — 731 Total bonds held-to-maturity 8,211,449 72,403 (153,768 ) 8,130,084 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,304 338 (243 ) 28,399 U.S. states and political subdivisions 848,228 16,827 (3,025 ) 862,030 Foreign governments 5,000 1,210 — 6,210 Corporate debt securities 5,345,579 41,812 (103,573 ) 5,283,818 Residential mortgage-backed securities 31,735 424 (497 ) 31,662 Collateralized debt securities 2,775 675 (6 ) 3,444 Total bonds available-for-sale 6,261,621 61,286 (107,344 ) 6,215,563 Total investments in securities $ 14,473,070 $ 133,689 $ (261,112 ) $ 14,345,647 The amortized cost and fair value, by contractual maturity, of fixed maturity securities are shown below (in thousands): June 30, 2019 Bonds Held-to-Maturity Bonds Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 430,988 $ 436,069 $ 243,111 $ 245,596 Due after one year through five years 4,033,584 4,153,917 3,211,961 3,313,108 Due after five years through ten years 3,099,228 3,223,700 2,513,056 2,623,952 Due after ten years 830,357 854,913 641,229 660,261 Total $ 8,394,157 $ 8,668,599 $ 6,609,357 $ 6,842,917 Actual maturities differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Residential and commercial mortgage-backed securities, which are not due at a single maturity, have been allocated to their respective categories based on the year of final contractual maturity. Proceeds from sales of available-for-sale securities, with the related gross realized gains and losses, are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Proceeds from sales of fixed maturity available-for-sale securities $ — $ 42,932 $ 285 $ 90,113 Gross realized gains — 11,123 — 12,547 Gross realized losses — (32 ) (23 ) (587 ) Gains and losses are determined using specific identification of the securities sold. During the six months ended June 30, 2019 and 2018 , bonds below investment grade with a carrying value of $157,939,000 and $34,850,000 , respectively, were transferred from held-to-maturity to available-for-sale after a deterioration in the issuers’ credit worthiness. No realized loss was recorded in 2019 or 2018. The components of the change in net unrealized gains (losses) on debt securities are shown below (in thousands): Six months ended June 30, 2019 2018 Bonds available-for-sale: change in unrealized gains (losses) $ 279,618 $ (210,413 ) Adjustments for Deferred policy acquisition costs (34,853 ) 41,962 Participating policyholders’ interest (12,811 ) 11,924 Deferred federal income tax benefit (expense) (48,080 ) 28,806 Change in net unrealized gains (losses) on debt securities, net of tax $ 183,874 $ (127,721 ) The components of the change in net gains on equity securities are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Unrealized gains on equity securities $ 51,933 $ 46,087 $ 254,955 $ 11,862 Net gains on equity securities sold 15,127 11,075 18,482 12,130 Net gains on equity securities $ 67,060 $ 57,162 $ 273,437 $ 23,992 The gross unrealized losses and fair value of the investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are shown below (in thousands): June 30, 2019 Less than 12 months 12 months or more Total Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ — $ — $ (52 ) $ 2,613 $ (52 ) $ 2,613 Corporate debt securities (1,661 ) 137,818 (8,919 ) 436,089 (10,580 ) 573,907 Residential mortgage-backed securities (19 ) 7,368 (718 ) 36,651 (737 ) 44,019 Collateralized debt securities (39 ) 10,771 (4 ) 917 (43 ) 11,688 Total bonds held-to-maturity (1,719 ) 155,957 (9,693 ) 476,270 (11,412 ) 632,227 Fixed maturity securities, bonds available-for-sale U.S. treasury and government — — (44 ) 11,124 (44 ) 11,124 U.S. states and political subdivisions — 1,808 — — — 1,808 Corporate debt securities (1,338 ) 91,488 (15,238 ) 371,471 (16,576 ) 462,959 Residential mortgage-backed securities — — (169 ) 1,820 (169 ) 1,820 Total bonds available-for-sale (1,338 ) 93,296 (15,451 ) 384,415 (16,789 ) 477,711 Total $ (3,057 ) $ 249,253 $ (25,144 ) $ 860,685 $ (28,201 ) $ 1,109,938 December 31, 2018 Less than 12 months 12 months or more Total Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (301 ) $ 22,605 $ — $ — $ (301 ) $ 22,605 Corporate debt securities (90,931 ) 2,969,461 (59,903 ) 1,063,679 (150,834 ) 4,033,140 Residential mortgage-backed securities (703 ) 58,119 (1,930 ) 57,661 (2,633 ) 115,780 Total bonds held-to-maturity (91,935 ) 3,050,185 (61,833 ) 1,121,340 (153,768 ) 4,171,525 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (29 ) 9,741 (214 ) 13,478 (243 ) 23,219 U.S. states and political subdivisions (1,274 ) 119,987 (1,751 ) 61,992 (3,025 ) 181,979 Corporate debt securities (65,492 ) 2,383,548 (38,081 ) 572,600 (103,573 ) 2,956,148 Residential mortgage-backed securities (54 ) 6,034 (443 ) 13,515 (497 ) 19,549 Collateralized debt securities (2 ) 158 (4 ) 100 (6 ) 258 Total bonds available-for-sale (66,851 ) 2,519,468 (40,493 ) 661,685 (107,344 ) 3,181,153 Total $ (158,786 ) $ 5,569,653 $ (102,326 ) $ 1,783,025 $ (261,112 ) $ 7,352,678 As of June 30, 2019 , the securities with unrealized losses including those exceeding one year were not deemed to be other-than-temporarily impaired. American National has the ability and intent to hold those securities until a market price recovery or maturity. It is not more-likely-than-not that American National will be required to sell them prior to recovery, and recovery is expected in a reasonable period of time. It is possible an issuer’s financial circumstances may be different in the future, which may lead to a different impairment conclusion in future periods. The following table identifies the total bonds distributed by credit quality rating (in thousands, except percentages): June 30, 2019 December 31, 2018 Amortized Cost Estimated Fair Value % of Fair Value Amortized Cost Estimated Fair Value % of Fair Value AAA $ 771,497 $ 798,910 5.2 % $ 690,009 $ 702,531 4.9 % AA 1,302,861 1,348,881 8.7 1,326,947 1,336,380 9.3 A 5,597,573 5,803,852 37.4 5,350,316 5,314,589 37.0 BBB 6,873,228 7,109,627 45.8 6,584,478 6,507,212 45.4 BB and below 458,355 450,246 2.9 521,320 484,935 3.4 Total $ 15,003,514 $ 15,511,516 100.0 % $ 14,473,070 $ 14,345,647 100.0 % Equity securities by market sector distribution are shown below: June 30, 2019 December 31, 2018 Consumer goods 20.9 % 21.1 % Energy and utilities 9.1 8.2 Finance 18.1 18.1 Healthcare 13.4 13.5 Industrials 8.0 9.0 Information technology 22.7 22.6 Other 7.8 7.5 Total 100.0 % 100.0 %

Mortgage Loans

Mortgage Loans	6 Months Ended
Mortgage Loans	Jun. 30, 2019
Receivables [Abstract]
Mortgage Loans	y, commercial mortgage loans are secured by first liens on income-producing real estate. American National attempts to maintain a diversified portfolio by considering the location of the underlying collateral. The distribution based on carrying amount of mortgage loans by location is as follows: June 30, 2019 December 31, 2018 East North Central 12.5 % 13.9 % East South Central 2.6 2.8 Mountain 21.6 20.0 Pacific 17.3 16.2 South Atlantic 12.5 12.1 West South Central 26.0 27.2 Other 7.5 7.8 Total 100.0 % 100.0 % During the six months ended June 30, 2019 , American National foreclosed on one loan with a total recorded investment of $7,363,000 and one loan with a total recorded investment of $8,644,000 was in the process of foreclosure. For the year ended December 31, 2018 , American National foreclosed on four loans with a total recorded investment of $22,608,000 , and one loan with a total recorded investment of $7,363,000 was in the process of foreclosure. American National did not sell any loans during the six months ended June 30, 2019 or during the year ended December 31, 2018 . The age analysis of past due loans is shown below (in thousands): 30-59 Days 60-89 Days More Than Total June 30, 2019 Past Due Past Due 90 Days Total Current Amount Percent Industrial $ — $ — $ — $ — $ 571,320 $ 571,320 11.3 % Office — — 8,644 8,644 1,660,163 1,668,807 33.1 Retail — — — — 875,078 875,078 17.4 Other — — — — 1,920,927 1,920,927 38.2 Total $ — $ — $ 8,644 $ 8,644 $ 5,027,488 $ 5,036,132 100.0 % Allowance for loan losses (21,422 ) Total, net of allowance $ 5,014,710 December 31, 2018 Industrial $ — $ — $ — $ — $ 761,294 $ 761,294 14.8 % Office — — — — 1,747,926 1,747,926 34.0 Retail — — — — 896,429 896,429 17.4 Other — 4,000 18,888 22,888 1,717,503 1,740,391 33.8 Total $ — $ 4,000 $ 18,888 $ 22,888 $ 5,123,152 $ 5,146,040 100.0 % Allowance for loan losses (21,333 ) Total, net of allowance $ 5,124,707 There were no unamortized purchase discounts as of June 30, 2019 or during the year ended December 31, 2018 . Total mortgage loans were net of unamortized origination fees of $29,356,000 and $31,586,000 at June 30, 2019 and December 31, 2018 , respectively. No unearned income is included in these amounts. Allowance for Credit Losses A loan is considered impaired when it is probable that all amounts due will not be collected according to the contractual terms of the loan agreement. Mortgage loans with temporary difficulties are not considered impaired when the borrower has the financial capacity to fund revenue shortfalls from the properties for the foreseeable future. Individual valuation allowances are established for impaired loans to reduce the carrying value to the fair value of the collateral. Loans not evaluated individually for collectability are segregated by property-type and location, and allowance factors are applied. These factors are developed based on historical loss experience adjusted for the expected trend in the rate of foreclosure losses. Allowance factors are higher for loans of certain property types and in certain regions based on loss experience or a blended historical loss factor. The change in allowance for credit losses in mortgage loans is shown below (in thousands, except number of loans): Collectively Evaluated for Impairment Individually Impaired Total Number of Loans Recorded Investment Valuation Allowance Number of Loans Recorded Investment Valuation Allowance Number of Loans Recorded Investment Valuation Allowance Beginning balance at January 1, 2019 449 $ 5,128,417 $ 18,607 2 $ 17,623 $ 2,726 451 $ 5,146,040 $ 21,333 Change in allowance — — (179 ) — — 268 — — 89 Net change in recorded investment (9 ) (101,423 ) — — (8,485 ) — (9 ) (109,908 ) — Ending balance at June 30, 2019 440 $ 5,026,994 $ 18,428 2 $ 9,138 $ 2,994 442 $ 5,036,132 $ 21,422 Troubled Debt Restructurings American National has granted concessions which are classified as troubled debt restructurings to certain mortgage loan borrowers. Concessions are generally one of, or a combination of, a delay in payment of principal or interest, a reduction of the contractual interest rate or an extension of the maturity date. American National considers the amount, timing and extent of concessions in determining any impairment or changes in the specific allowance for loan losses recorded in connection with a troubled debt restructuring. The carrying value after specific allowance, before and after modification in a troubled debt restructuring, may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. Troubled debt restructuring mortgage loan information is as follows (in thousands, except number of loans): Six months ended June 30, 2019 2018 Number of Loans Recorded Investment Pre-Modification Recorded Investment Post Modification Number of Loans Recorded Investment Pre-Modification Recorded Investment Post Modification Office 1 $ 9,331 $ 9,331 — $ — $ — Retail 2 40,249 40,249 — — — Industrial 4 20,595 20,595 — — — Total 7 $ 70,175 $ 70,175 — $ — $ — There were seven loans determined to be a troubled debt restructuring for the six months ended June 30, 2019. There are commitments of $4,042,000 to lend additional funds to two debtors whose loans have been modified in a troubled debt restructuring during the periods presented.

Real Estate and Other Investmen

Real Estate and Other Investments	6 Months Ended
Real Estate and Other Investments	Jun. 30, 2019
Real Estate [Abstract]
Real Estate and Other Investments	Real Estate and Other Investments Investment real estate by property-type and geographic distribution are as follows: June 30, 2019 December 31, 2018 Industrial 12.8 % 13.1 % Office 38.0 37.3 Retail 37.6 37.0 Other 11.6 12.6 Total 100.0 % 100.0 % June 30, 2019 December 31, 2018 East North Central 5.6 % 5.6 % East South Central 6.0 5.4 Mountain 12.0 11.9 Pacific 7.2 7.3 South Atlantic 15.1 13.8 West South Central 52.5 53.8 Other 1.6 2.2 Total 100.0 % 100.0 % American National regularly invests in real estate partnerships and joint ventures. American National frequently participates in the design of these entities with the sponsor, but in most cases, our involvement is limited to financing. Through analysis performed by American National, some of these partnerships and joint ventures have been determined to be variable interest entities (“VIEs”). In certain instances, in addition to an economic interest in the entity, American National holds the power to direct the most significant activities of the entity and is deemed the primary beneficiary or consolidator of the entity. The assets of the consolidated VIEs are restricted and must first be used to settle their liabilities. Creditors or beneficial interest holders of these VIEs have no recourse to the general credit of American National, as American National’s obligation is limited to the amount of its committed investment. American National has not provided financial or other support to the VIEs in the form of liquidity arrangements, guarantees, or other commitments to third parties that may affect the fair value or risk of its variable interest in the VIEs in 2019 or 2018 . The assets and liabilities relating to the VIEs included in the consolidated financial statements are as follows (in thousands): June 30, 2019 December 31, 2018 Investment real estate $ 135,235 $ 141,843 Short-term investments 501 500 Cash and cash equivalents 10,697 10,392 Other receivables 3,721 3,939 Other assets 12,261 13,231 Total assets of consolidated VIEs $ 162,415 $ 169,905 Notes payable $ 159,577 $ 137,963 Other liabilities 4,755 7,145 Total liabilities of consolidated VIEs $ 164,332 $ 145,108 The notes payable in the consolidated statements of financial position pertain to the borrowings of the consolidated VIEs. The liability of American National relating to notes payable of the consolidated VIEs is limited to the amount of its direct or indirect investment in the respective ventures, which totaled $7,195,000 and $26,635,000 at June 30, 2019 and December 31, 2018 , respectively. The total long-term notes payable of the consolidated VIEs consists of the following (in thousands): Interest rate Maturity June 30, 2019 December 31, 2018 LIBOR 2020 $ 10,842 $ 10,834 4.18% fixed 2024 65,501 42,399 4% fixed 2022 83,234 84,730 Total $ 159,577 $ 137,963 For other VIEs in which American National is a partner, it is not the primary beneficiary, and these entities are not consolidated, as the major decisions that most significantly impact the economic activities of the VIE require consent of all partners. The carrying amount and maximum exposure to loss relating to unconsolidated VIEs follows (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Maximum Exposure to Loss Carrying Amount Maximum Exposure to Loss Investment in unconsolidated affiliates $ 322,901 $ 322,901 $ 330,730 $ 330,730 Mortgage loans 623,141 623,141 633,533 633,533 Accrued investment income 2,114 2,114 2,191 2,191 As of June 30, 2019 , two real estate investments with a carrying value of $22,842,000 met the criteria as held-for-sale.

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	National purchases over-the-counter equity-indexed options as economic hedges against fluctuations in the equity markets to which equity-indexed products are exposed. These options are not designated as hedging instruments for accounting purposes under U.S. GAAP. Equity-indexed contracts include a fixed host universal-life insurance or annuity contract and an equity-indexed embedded derivative. The detail of derivative instruments is shown below (in thousands, except number of instruments): Derivatives Not Designated Location in the Consolidated June 30, 2019 December 31, 2018 Number of Notional Estimated Number of Notional Estimated Equity-indexed options Other invested assets 484 $ 2,498,744 $ 231,044 493 $ 2,391,000 $ 148,006 Equity-indexed embedded derivative Policyholders’ account balances 96,014 2,455,001 695,676 90,440 2,327,769 596,075 Derivatives Not Designated as Hedging Instruments Location in the Consolidated Statements of Operations Gains (Losses) Recognized in Income on Derivatives Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Equity-indexed options Net investment income $ 23,125 $ 21,778 $ 89,610 $ 7,633 Equity-indexed embedded derivative Interest credited to policyholders’ account balances (36,255 ) (17,599 ) (94,411 ) (4,163 ) The Company’s use of derivative instruments exposes it to credit risk in the event of non-performance by the counterparties. The Company has a policy of only dealing with counterparties it believes are creditworthy and obtaining sufficient collateral where appropriate, as a means of mitigating the financial loss from defaults. The Company holds collateral in cash and notes secured by U.S. government backed assets. The non-performance risk is the net counterparty exposure based on the fair value of the open contracts, less the fair value of collateral held. The Company maintains master netting agreements with its current active trading partners. As such, a right of offset has been applied to collateral that supports credit risk and has been recorded in the consolidated statements of financial position as an offset to “Other invested assets” with an associated payable to “Other liabilities” for excess collateral. Information regarding the Company’s exposure to credit loss on the options it holds is presented below (in thousands): June 30, 2019 Counterparty Moody/S&P Rating Options Fair Value Collateral Held in Cash Collateral Held in Invested Assets Total Collateral Held Collateral Amounts used to Offset Exposure Excess Collateral Exposure Net of Collateral Barclays Baa3/BBB $ 53,790 $ 25,393 $ 28,000 $ 53,393 $ 53,393 $ — $ 397 Credit Suisse Baa2/BBB+ 1,223 1,150 — 1,150 1,150 — 73 Goldman-Sachs A3/BBB+ 909 670 — 670 670 — 239 ING Baa1/A- 28,382 12,830 16,000 28,830 28,382 448 — Morgan Stanley A3/BBB+ 26,538 17,516 9,000 26,516 26,516 — 22 NATIXIS* A1/A+ 38,289 38,700 — 38,700 38,289 411 — SunTrust Baa1/BBB+ 48,347 32,350 17,000 49,350 48,320 1,030 27 Wells Fargo A2/A- 33,566 18,550 15,000 33,550 33,313 237 253 Total $ 231,044 $ 147,159 $ 85,000 $ 232,159 $ 230,033 $ 2,126 $ 1,011 December 31, 2018 Counterparty Moody/S&P Rating Options Fair Value Collateral Held in Cash Collateral Held in Invested Assets Total Collateral Held Collateral Amounts used to Offset Exposure Excess Collateral Exposure Net of Collateral Barclays Baa3/BBB $ 38,905 $ 11,063 $ 28,041 $ 39,104 $ 38,905 $ 199 $ — Goldman-Sachs A3/BBB+ 615 670 — 670 615 55 — ING Baa1/A- 24,183 7,960 16,023 23,983 23,983 — 200 Morgan Stanley A3/BBB+ 11,649 2,046 9,013 11,059 11,059 — 590 NATIXIS* A1/A+ 26,786 27,610 — 27,610 26,786 824 — SunTrust Baa1/BBB+ 23,488 6,520 17,025 23,545 23,464 81 24 Wells Fargo A2/A- 22,380 7,030 15,022 22,052 22,052 — 328 Total $ 148,006 $ 62,899 $ 85,124 $ 148,023 $ 146,864 $ 1,159 $ 1,142 * Includes collateral restrictions.

Net Investment Income and Reali

Net Investment Income and Realized Investment Gains (Losses)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Net Investment Income and Realized Investment Gains (Losses)	Net investment income is shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ 150,907 $ 142,529 $ 298,464 $ 282,624 Dividends on equity securities 9,015 10,898 17,307 20,338 Mortgage loans 63,158 58,999 126,357 122,867 Real estate 4,508 4,212 6,363 8,495 Options 23,125 21,778 89,610 7,633 Other invested assets 7,017 8,325 11,975 13,453 Total $ 257,730 $ 246,741 $ 550,076 $ 455,410 Net realized investment gains (losses) are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ 2,611 $ 6,070 $ 5,213 $ 6,737 Mortgage loans (544 ) (856 ) (89 ) (554 ) Real estate (2,728 ) (197 ) (2,886 ) (114 ) Other invested assets (2,276 ) (10 ) (2,228 ) (18 ) Total $ (2,937 ) $ 5,007 $ 10 $ 6,051 Other-than-temporary impairment losses are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ (6,968 ) $ — $ (6,968 ) $ —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The carrying amount and fair value of financial instruments are shown below (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity $ 8,394,157 $ 8,668,599 $ 8,211,449 $ 8,130,084 Fixed maturity securities, bonds available-for-sale 6,842,917 6,842,917 6,215,563 6,215,563 Equity securities 1,672,394 1,672,394 1,530,228 1,530,228 Equity-indexed options 231,044 231,044 148,006 148,006 Mortgage loans on real estate, net of allowance 5,014,710 5,127,595 5,124,707 5,049,468 Policy loans 377,669 377,669 376,254 376,254 Short-term investments 597,183 597,183 206,760 206,760 Separate account assets ($1,012,462 and $905,824 included in fair value hierarchy) 1,028,961 1,028,961 918,369 918,369 Separately managed accounts 30,655 30,655 16,532 16,532 Total financial assets $ 24,189,690 $ 24,577,017 $ 22,747,868 $ 22,591,264 Financial liabilities Investment contracts $ 10,444,204 $ 10,444,204 $ 10,003,990 $ 10,003,990 Embedded derivative liability for equity-indexed contracts 695,676 695,676 596,075 596,075 Notes payable 159,577 159,577 137,963 137,963 Separate account liabilities ($1,012,462 and $905,824 included in fair value hierarchy) 1,028,961 1,028,961 918,369 918,369 Total financial liabilities $ 12,328,418 $ 12,328,418 $ 11,656,397 $ 11,656,397 Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability. A fair value hierarchy is used to determine fair value based on a hypothetical transaction at the measurement date from the perspective of a market participant. American National has evaluated the types of securities in its investment portfolio to determine an appropriate hierarchy level based upon trading activity and the observability of market inputs. The classification of assets or liabilities within the fair value hierarchy is based on the lowest level of significant input to its valuation. The input levels are defined as follows: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Quoted prices in markets that are not active or inputs that are observable directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities other than quoted prices in Level 1; quoted prices in markets that are not active; or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect American National’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models and third-party evaluation, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Valuation Techniques Fixed Maturity Securities and Equity Options— American National utilizes a pricing service to estimate fair value measurements. The estimates of fair value for most fixed maturity securities, including municipal bonds, provided by the pricing service are disclosed as Level 2 measurements as the estimates are based on observable market information rather than market quotes. The pricing service utilizes market quotations for fixed maturity securities that have quoted prices in active markets. Since fixed maturity securities generally do not trade on a daily basis, the pricing service prepares estimates of fair value measurements for these securities using its proprietary pricing applications, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings and matrix pricing. Additionally, an option adjusted spread model is used to develop prepayment and interest rate scenarios. The pricing service evaluates each asset class based on relevant market information, credit information, perceived market movements and sector news. The market inputs utilized in the pricing evaluation, listed in the approximate order of priority, include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and economic events. The extent of the use of each market input depends on the asset class and the market conditions. Depending on the security, the priority of the use of inputs may change or some market inputs may not be relevant. For some securities, additional inputs may be necessary. American National has reviewed the inputs and methodology used and the techniques applied by the pricing service to produce quotes that represent the fair value of a specific security. The review confirms that the pricing service is utilizing information from observable transactions or a technique that represents a market participant’s assumptions. American National does not adjust quotes received from the pricing service. The pricing service utilized by American National has indicated that they will only produce an estimate of fair value if there is objectively verifiable information available. American National holds a small amount of private placement debt and fixed maturity securities that have characteristics that make them unsuitable for matrix pricing. For these securities, a quote from an independent broker (typically a market maker) is obtained. Due to the disclaimers on the quotes that indicate that the price is indicative only, American National includes these fair value estimates in Level 3. For securities priced using a quote from an independent broker, such as the equity-indexed options and certain fixed maturity securities, American National uses a market-based fair value analysis to validate the reasonableness of prices received. Price variances above a certain threshold are analyzed further to determine if any pricing issue exists. This analysis is performed quarterly. Equity Securities— For publicly-traded equity securities, prices are received from a nationally recognized pricing service that are based on observable market transactions, and these securities are classified as Level 1 measurements. For certain preferred stock, current market quotes in active markets are unavailable. In these instances, an estimate of fair value is received from the pricing service. The service utilizes similar methodologies to price preferred stocks as it does for fixed maturity securities. If applicable, these estimates would be disclosed as Level 2 measurements. American National tests the accuracy of the information provided by reference to other services annually. Short-term investments —Short-term investments are primarily commercial paper rated A2 or P2 or better by Standard & Poor's and Moody's, respectively. Commercial paper is carried at amortized cost which approximates fair value. These investments are classified as Level 2 measurements. Separate account assets and liabilities —Separate account assets and liabilities are funds that are held separate from the general assets and liabilities of American National and that represent the investments of variable insurance product contract holders, who bear the investment risk of such funds. Investment income and investment gains and losses from these separate funds accrue to the benefit of the contract holders. Separate accounts are established in conformity with insurance laws and are not chargeable with liabilities that arise from any other business of American National. American National reports separately, as assets and liabilities, investments held in separate accounts and liabilities of the separate accounts if (i) such separate accounts are legally recognized; (ii) assets supporting the contract liabilities are legally insulated from American National’s general account liabilities; (iii) investments are directed by the contract holder; and (iv) all investment performance, net of contract fees and assessments, is passed through to the contract holder. The assets of these accounts are carried at fair value. Deposits, net investment income and realized investment gains and losses for these accounts are excluded from revenues, and related liability increases are excluded from benefits and expenses in the consolidated financial statements. The separate account assets included on the quantitative disclosures fair value hierarchy table is made up of short-term investments, equity securities, and fixed maturity securities of available-for-sale bonds. Equity securities are classified as Level 1 measurements. Short-term investments and fixed maturity securities are classified as Level 2 measurements. These classifications for separate account assets reflect the same fair value level methodologies as listed above as they are derived from the same vendors and follow the same process. The separate account assets account also includes cash and cash equivalents, investments in unconsolidated affiliates, accrued investment income, and receivables for securities. These are not financial instruments and are not included in the quantitative disclosures of fair value hierarchy table. Embedded Derivative— The amounts reported within policyholder contract deposits include equity linked interest crediting rates based on the S&P 500 index within index annuities and indexed life. The following unobservable inputs are used for measuring the fair value of the embedded derivatives associated with the policyholder contract liabilities: • Lapse rate assumptions are determined by company experience. Lapse rates are generally assumed to be lower during a contract’s surrender charge period and then higher once the surrender charge period has ended. Decreases to the assumed lapse rates generally increase the fair value of the liability as more policyholders persist to collect the crediting interest pertaining to the indexed product. Increases to the lapse rate assumption will have the inverse effect decreasing the fair value. • Mortality rate assumptions vary by age and by gender based on company and industry experience. Decreases to the assumed mortality rates increase the fair value of the liabilities as more policyholders earn crediting interest. Increases to the assumed mortality rates decrease the fair value as higher decrements reduce the potential for future interest credits. • Equity volatility assumptions begin with current market volatilities and grow to long-term values. Increases to the assumed volatility will increase the fair value of liabilities, as future projections will produce higher increases in the linked index. At June 30, 2019 and December 31, 2018 , the one year implied volatility used to estimate embedded derivative value was 13.3% and 23.2% , respectively. Fair values of indexed life and annuity liabilities are calculated using the discounted cash flow technique. Shown below are the significant unobservable inputs used to calculate the Level 3 fair value of the embedded derivatives within policyholder contract deposits (in millions, except range percentages): Fair Value Range June 30, 2019 December 31, 2018 Unobservable Input June 30, 2019 December 31, 2018 Indexed Annuities $ 680.5 $ 592.8 Lapse Rate 1-70% 1-70% Mortality Multiplier 90-100% 90-100% Equity Volatility 13-30% 19-26% Indexed Life 15.2 3.3 Equity Volatility 13-30% 19-26% Quantitative Disclosures The fair value hierarchy measurements of the financial instruments are shown below (in thousands): Assets and Liabilities Carried at Fair Value by Hierarchy Level as of June 30, 2019 Total Fair Value Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds available-for-sale U.S. treasury and government $ 28,745 $ — $ 28,745 $ — U.S. states and political subdivisions 1,106,031 — 1,106,031 — Foreign governments 6,361 — 6,361 — Corporate debt securities 5,666,546 — 5,662,313 4,233 Residential mortgage-backed securities 24,685 — 24,685 — Collateralized debt securities 10,549 — 10,549 — Total bonds available-for-sale 6,842,917 — 6,838,684 4,233 Equity securities Common stock 1,651,398 1,651,285 — 113 Preferred stock 20,996 20,996 — — Total equity securities 1,672,394 1,672,281 — 113 Options 231,044 — — 231,044 Short-term investments 597,183 — 597,183 — Separate account assets 1,012,462 253,053 759,409 — Total financial assets $ 10,356,000 $ 1,925,334 $ 8,195,276 $ 235,390 Financial liabilities Embedded derivative liability for equity-indexed contracts $ 695,676 $ — $ — $ 695,676 Separate account liabilities 1,012,462 253,053 759,409 — Total financial liabilities $ 1,708,138 $ 253,053 $ 759,409 $ 695,676 Assets and Liabilities Carried at Fair Value by Hierarchy Level as of December 31, 2018 Total Fair Value Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds available-for-sale U.S. treasury and government $ 28,399 $ — $ 28,399 $ — U.S. states and political subdivisions 862,030 — 862,030 — Foreign governments 6,210 — 6,210 — Corporate debt securities 5,283,818 — 5,279,585 4,233 Residential mortgage-backed securities 31,662 — 31,662 — Collateralized debt securities 3,444 — 3,444 — Total bonds available-for-sale 6,215,563 — 6,211,330 4,233 Equity securities Common stock 1,509,186 1,509,073 — 113 Preferred stock 21,042 21,042 — — Total equity securities 1,530,228 1,530,115 — 113 Options 148,006 — — 148,006 Short-term investments 206,760 — 206,760 — Separate account assets 905,824 227,448 678,376 — Total financial assets $ 9,006,381 $ 1,757,563 $ 7,096,466 $ 152,352 Financial liabilities Embedded derivative liability for equity-indexed contracts $ 596,075 $ — $ — $ 596,075 Separate account liabilities 905,824 227,448 678,376 — Total financial liabilities $ 1,501,899 $ 227,448 $ 678,376 $ 596,075 For financial instruments measured at fair value on a recurring basis using Level 3 inputs during the period, a reconciliation of the beginning and ending balances is shown below (in thousands): Level 3 Three months ended June 30, 2019 Six months ended June 30, 2019 Assets Liability Assets Liability Investment Securities Equity-Indexed Options Embedded Derivative Investment Securities Equity-Indexed Options Embedded Derivative Beginning balance at January 1, 2019 $ 4,346 $ 216,156 $ 668,485 $ 4,346 $ 148,006 $ 596,075 Net gain for derivatives included in net investment income — 23,125 — — 89,610 — Net change included in interest credited — — 36,255 — — 94,411 Purchases, sales and settlements or maturities Purchases — 21,412 — — 38,768 — Settlements or maturities — (29,649 ) — — (45,340 ) — Premiums less benefits — — (9,064 ) — — 5,190 Ending balance at June 30, 2019 $ 4,346 $ 231,044 $ 695,676 $ 4,346 $ 231,044 $ 695,676 Beginning balance at January 1, 2018 $ — $ 204,308 $ 535,641 $ — $ 220,190 $ 512,526 Net gain for derivatives included in net investment income — 21,712 — — 7,567 — Net change included in interest credited — — 17,599 — — 4,163 Purchases, sales and settlements or maturities Purchases — 26,084 — — 43,012 — Settlements or maturities — (34,763 ) — — (53,428 ) — Premiums less benefits — — 39,673 — — 76,224 Ending balance at June 30, 2018 $ — $ 217,341 $ 592,913 $ — $ 217,341 $ 592,913 Within the net gain (loss) for derivatives included in net investment income were unrealized gains of $84,756,000 and unrealized losses of $18,321,000 , relating to assets still held at June 30, 2019 , and 2018 , respectively. There were no transfers between Level 1 and Level 2 fair value hierarchies during the periods presented. Unless information is obtained from the brokers that indicate observable inputs were used in their pricing, there are not enough observable inputs to enable American National to classify the securities priced by the brokers as other than Level 3. American National’s valuation of these securities involves judgment regarding assumptions market participants would use including quotes from independent brokers. The inputs used by the brokers include recent transactions in the security, similar bonds with same name, ratings, maturity and structure, external dealer quotes in the security, Bloomberg evaluated pricing and prior months pricing. None of them are observable to American National as of June 30, 2019 . Fair Value Information About Financial Instruments Not Measured at Fair Value Information about fair value estimates for financial instruments not measured at fair values is discussed below: Mortgage Loans —The fair value of mortgage loans is estimated using discounted cash flow analyses on a loan by loan basis by applying a discount rate to expected cash flows from future installment and balloon payments. The discount rate takes into account general market trends and specific credit risk trends for the individual loan. Factors used to arrive at the discount rate include inputs from spreads based on U.S. Treasury notes and the loan’s credit quality, region, property type, lien priority, payment type and current status. Policy loans —The carrying value of policy loans is the outstanding balance plus any accrued interest. Due to the collateralized nature of policy loans such that they cannot be separated from the policy contracts, the unpredictable timing of repayments and the fact that settlement is at outstanding value, American National believes the carrying value of policy loans approximates fair value. Separately managed accounts —The amounts reported in separately managed accounts consist primarily of notes and private equity. These investments are private placements and do not have a readily determinable fair value. The carrying value of the separately managed accounts is cost or market value if available from the separately managed account manager. Market value is provided by the separately managed account manager in subsequent quarters. American National believes that cost approximates fair value at initial recognition during the quarter of investment. Investment contracts —The carrying value of investment contracts is equivalent to the accrued account balance. The accrued account balance consists of deposits, net of withdrawals, plus or minus interest credited, fees and charges assessed and other adjustments. American National believes that the carrying value of investment contracts approximates fair value because the majority of these contracts’ interest rates reset at anniversary. Notes payable —Notes payable are carried at outstanding principal balance. The carrying value of the notes payable approximates fair value because the underlying interest rates approximate market rates at the balance sheet date. The carrying value and estimated fair value of financial instruments not recorded at fair value on a recurring basis but required to be disclosed were as follows: June 30, 2019 FV Hierarchy Level Carrying Amount Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions Level 2 $ 207,563 $ 214,657 Foreign governments Level 2 3,934 4,426 Corporate debt securities Level 2 & 3 7,849,211 8,105,793 Residential mortgage-backed securities Level 2 205,408 212,780 Collateralized debt securities Level 2 127,892 130,793 Other debt securities Level 2 149 150 Total fixed maturity securities, bonds held-to-maturity 8,394,157 8,668,599 Mortgage loans on real estate, net allowance Level 3 5,014,710 5,127,595 Policy loans Level 3 377,669 377,669 Separately managed accounts Level 3 30,655 30,655 Total financial assets $ 13,817,191 $ 14,204,518 Financial liabilities Investment contracts Level 3 $ 10,444,204 $ 10,444,204 Notes payable Level 3 159,577 159,577 Total financial liabilities $ 10,603,781 $ 10,603,781 December 31, 2018 FV Hierarchy Level Carrying Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions Level 2 $ 245,360 $ 250,899 Foreign governments Level 2 3,961 4,430 Corporate debt securities Level 2 7,640,891 7,548,829 Residential mortgage-backed securities Level 2 315,306 319,910 Collateralized debt securities Level 2 5,214 5,285 Other debt securities Level 2 717 731 Total fixed maturity securities, bonds held-to-maturity 8,211,449 8,130,084 Mortgage loans on real estate, net allowance Level 3 5,124,707 5,049,468 Policy loans Level 3 376,254 376,254 Separately managed accounts Level 3 16,532 16,532 Total financial assets $ 13,728,942 $ 13,572,338 Financial liabilities Investment contracts Level 3 $ 10,003,990 $ 10,003,990 Notes payable Level 3 137,963 137,963 Total financial liabilities $ 10,141,953 $ 10,141,953

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	6 Months Ended
Deferred Policy Acquisition Costs	Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs	Deferred policy acquisition costs are shown below (in thousands): Life Annuity Health Property & Casualty Total Beginning balance at January 1, 2019 $ 839,133 $ 499,588 $ 33,960 $ 124,580 $ 1,497,261 Additions 64,419 48,168 6,544 158,129 277,260 Amortization (50,379 ) (40,779 ) (7,205 ) (154,958 ) (253,321 ) Effect of change in unrealized gains on available-for-sale debt securities (9,809 ) (25,044 ) — — (34,853 ) Net change 4,231 (17,655 ) (661 ) 3,171 (10,914 ) Ending balance at June 30, 2019 $ 843,364 $ 481,933 $ 33,299 $ 127,751 $ 1,486,347 Commissions comprise the majority of the additions to deferred policy acquisition costs.

Liability for Unpaid Claims and

Liability for Unpaid Claims and Claim Adjustment Expenses	6 Months Ended
Liability for Unpaid Claims and Claim Adjustment Expenses	Jun. 30, 2019
Insurance [Abstract]
Liability for Unpaid Claims and Claim Adjustment Expenses	Liability for Unpaid Claims and Claim Adjustment Expenses The liability for unpaid claims and claim adjustment expenses (“claims”) for health and property and casualty insurance is included in “Policy and contract claims” in the consolidated statements of financial position and is the amount estimated for incurred but not reported (“IBNR”) claims and claims that have been reported but not settled. The liability for unpaid claims is estimated based upon American National’s historical experience and actuarial assumptions that consider the effects of current developments, anticipated trends and risk management programs, less anticipated salvage and subrogation. The effects of the changes are included in the consolidated results of operations in the period in which the changes occur. The time value of money is not taken into account for the purposes of calculating the liability for unpaid claims. There have been no significant changes in methodologies or assumptions used to calculate the liability for unpaid claims and claim adjustment expenses. Information regarding the liability for unpaid claims is shown below (in thousands): Six months ended June 30, 2019 2018 Unpaid claims balance, beginning $ 1,305,396 $ 1,218,824 Less reinsurance recoverables 254,466 241,302 Net beginning balance 1,050,930 977,522 Incurred related to Current 591,073 586,516 Prior years (30,691 ) (2,501 ) Total incurred claims 560,382 584,015 Paid claims related to Current 272,650 261,019 Prior years 276,738 268,116 Total paid claims 549,388 529,135 Net balance 1,061,924 1,032,402 Plus reinsurance recoverables 249,245 255,684 Unpaid claims balance, ending $ 1,311,169 $ 1,288,086 The net and gross reserve calculations have shown favorable development as a result of favorable loss emergence compared to what was implied by the loss development patterns used in the original estimation of losses in prior years. Estimates for ultimate incurred claims attributable to insured events of prior years decreased by approximately $30,691,000 during the first six months of 2019 and decreased by approximately $2,501,000 during the same period in 2018 . The favorable development in 2019 was a reflection of lower-than-anticipated losses in the workers compensation and agribusiness lines of business. For short-duration health insurance claims, the total of IBNR plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses at June 30, 2019 was approximately $23,627,000 .

Federal Income Taxes

Federal Income Taxes	6 Months Ended
Federal Income Taxes	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Federal Income Taxes	A reconciliation of the effective tax rate to the statutory federal tax rate is shown below (in thousands, except percentages): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Amount Rate Amount Rate Amount Rate Amount Rate Income tax expense before tax on equity in earnings of unconsolidated affiliates $ 21,819 18.1 % $ 21,267 20.0 % $ 81,606 18.3 % $ 25,632 20.0 % Tax on equity in earnings of unconsolidated affiliates 3,526 2.9 1,348 1.0 12,023 2.7 1,234 1.0 Total expected income tax expense at the statutory rate 25,345 21.0 22,615 21.0 93,629 21.0 26,866 21.0 Tax-exempt investment income (1,109 ) (0.9 ) (836 ) (0.8 ) (1,918 ) (0.4 ) (1,679 ) (1.3 ) Deferred tax change — — (600 ) (0.6 ) — — (909 ) (0.7 ) Dividend exclusion (860 ) (0.7 ) (1,001 ) (0.9 ) (1,781 ) (0.4 ) (1,986 ) (1.6 ) Miscellaneous tax credits, net (3,299 ) (2.7 ) (2,529 ) (2.3 ) (4,991 ) (1.1 ) (4,742 ) (3.7 ) Low income housing tax credit expense 1,783 1.5 1,252 1.2 2,941 0.6 2,504 2.0 Change in valuation allowance 165 0.1 2,700 2.5 165 — 2,700 2.1 Other items, net (77 ) (0.1 ) 356 0.3 1,280 0.3 392 0.3 Provision for federal income taxes $ 21,948 18.2 % $ 21,957 20.4 % $ 89,325 20.0 % $ 23,146 18.1 % American National made income tax payments of $40,440,000 and $14,135,000 during the six months ended June 30, 2019 and 2018 , respectively. As of June 30, 2019, American National has an alternative minimum tax (“AMT”) credit carryforward of $6,933,000 , a general business credit carryforward of $758,000 and capital loss carryforwards of $656,000 . AMT credit carryforwards may be utilized to offset regular tax liability. If not utilized, the credits are fully refundable by 2021. The general business credits and capital loss carryforwards will expire in 2038 and 2022 , respectively, if not utilized. American National’s federal income tax returns for years 2015 to 2017 are subject to examination by the Internal Revenue Service. Tax returns for 2013 and 2014 are subject to examination with certain limitations. In April 2019, American National received notice from the Internal Revenue Service of its intent to audit tax years 2013 to 2016. The audit is in its preliminary phase. In the opinion of management, all prior year deficiencies have been paid or adequate provisions have been made for any tax deficiencies that may be upheld. As of June 30, 2019

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below (in thousands): Net Unrealized Gains (Losses) on Securities Defined Benefit Pension Plan Adjustments Foreign Currency Adjustments Accumulated Other Comprehensive Income (Loss) Beginning balance at January 1, 2019 $ (42,469 ) $ (54,236 ) $ (3,033 ) $ (99,738 ) Amounts reclassified from AOCI (net of tax expense $565 and $774) 2,126 2,911 — 5,037 Unrealized holding gains arising during the period (net of tax expense $58,322) 219,402 — — 219,402 Unrealized adjustment to DAC (net of tax benefit $7,320) (27,533 ) — — (27,533 ) Unrealized gains on investments attributable to participating policyholders’ interest (net of tax benefit $2,690) (10,121 ) — — (10,121 ) Foreign currency adjustment (net of tax expense $157) — — 590 590 Cumulative effect of changes in accounting 16,166 (16,493 ) (458 ) (785 ) Ending balance at June 30, 2019 $ 157,571 $ (67,818 ) $ (2,901 ) $ 86,852 Beginning balance at January 1, 2018 $ 716,878 $ (72,772 ) $ (1,890 ) $ 642,216 Amounts reclassified from AOCI (net of tax benefit $462 and expense $635) (1,740 ) 2,390 — 650 Unrealized holding losses arising during the period (net of tax benefit $39,660) (168,551 ) — — (168,551 ) Unrealized adjustment to DAC (net of tax expense $8,812) 33,150 — — 33,150 Unrealized losses on investments attributable to participating policyholders’ interest (net of tax expense $2,504) 9,420 — — 9,420 Foreign currency adjustment (net of tax benefit $133) — — (500 ) (500 ) Cumulative effect of changes in accounting (net of tax benefit $334,955) (627,119 ) — — (627,119 ) Ending balance at June 30, 2018 $ (37,962 ) $ (70,382 ) $ (2,390 ) $ (110,734 )

Stockholders' Equity and Noncon

Stockholders' Equity and Noncontrolling Interests	6 Months Ended
Stockholders' Equity and Noncontrolling Interests	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity and Noncontrolling Interests	National has one class of common stock with a par value of $1.00 per share and 50,000,000 authorized shares. The amounts outstanding at the dates indicated are shown below: June 30, 2019 December 31, 2018 Common stock Shares issued 30,832,449 30,832,449 Treasury shares (3,945,249 ) (3,947,000 ) Outstanding shares 26,887,200 26,885,449 Restricted shares (10,000 ) (10,000 ) Unrestricted outstanding shares 26,877,200 26,875,449 Stock-based compensation American National has a stock-based compensation plan, which allows for grants of Non-Qualified Stock Options, Stock Appreciation Rights (“SAR”), Restricted Stock (“RS”) Awards, Restricted Stock Units (“RSU”), Performance Awards, Incentive Awards or any combination thereof. This plan is administered by the American National Board Compensation Committee. To date, only SAR, RS and RSU awards have been made. All awards are subject to review and approval by the Board Compensation Committee both at the time of setting applicable performance objectives and at payment of the awards. The number of shares available for grants under the plan cannot exceed 2,900,000 shares, and no more than 200,000 shares may be granted to any one individual in any calendar year. Grants were made to certain officers meeting established performance objectives, and grants are made to directors as compensation and to align their interests with those of other shareholders. SAR, RS and RSU information for the periods indicated are shown below: SAR RS Shares RS Units Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Outstanding at December 31, 2018 335 $ 84.41 10,000 $ 80.05 18,316 $ 111.12 Granted — — — — 8,250 113.19 Exercised — — — — (18,316 ) 111.12 Forfeited — — — — — — Expired (269 ) 77.90 — — — — Outstanding at June 30, 2019 66 $ 110.83 10,000 $ 80.05 8,250 $ 113.19 SAR RS Shares RS Units Weighted-average contractual remaining life (in years) 0.84 3.67 0.84 Exercisable shares 66 N/A N/A Weighted-average exercise price $ 110.83 $ 80.05 $ 111.12 Weighted-average exercise price exercisable shares 110.83 N/A N/A Compensation expense (credit) Three months ended June 30, 2019 $ (12,000 ) $ 20,000 $ 578,000 Three months ended June 30, 2018 (5,000 ) 83,000 760,000 Six months ended June 30, 2019 $ (15,000 ) $ 40,000 $ 941,000 Six months ended June 30, 2018 (34,000 ) 284,000 549,000 Fair value of liability award June 30, 2019 $ 1,000 N/A $ 961,000 December 31, 2018 33,000 N/A 2,426,000 The SARs give the holder the right to cash compensation based on the difference between the stock price on the grant date and the stock price on the exercise date. The SARs vest at a rate of 20% per year for five years and expire five years after vesting. RS awards entitle the participant to full dividend and voting rights. Each RS share awarded has the value of one share of restricted stock and vests 10 years from the grant date. Unvested shares are restricted as to disposition, and are subject to forfeiture under certain circumstances. Compensation expense is recognized over the vesting period. The restrictions on these awards lapse after 10 years and most of these awards feature a graded vesting schedule in the case of the retirement, death or disability of an award holder. Restricted stock awards for 350,334 shares have been granted at an exercise price of zero , of which 10,000 shares are unvested. RSU awards to our directors and advisory directors vest after one -year or upon earlier death, disability or retirement from service after age 65. Upon vesting, RSU awards are settled in cash based upon the market price of our common stock on the date of vesting. Earnings per share Basic earnings per share were calculated using a weighted average number of shares outstanding. Diluted earnings per share include RS and RSU award shares. Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Weighted average shares outstanding 26,881,700 26,883,276 26,883,699 26,886,196 Incremental shares from RS awards and RSUs 7,264 26,981 6,237 46,927 Total shares for diluted calculations 26,888,964 26,910,257 26,889,936 26,933,123 Net income attributable to American National (in thousands) $ 98,840 $ 84,139 $ 357,057 $ 102,916 Basic earnings per share $ 3.68 $ 3.13 $ 13.28 $ 3.83 Diluted earnings per share $ 3.67 $ 3.12 $ 13.28 $ 3.82 Statutory Capital and Surplus Risk Based Capital (“RBC”) is a measure insurance regulators use to evaluate the capital adequacy of American National Insurance Company and its insurance subsidiaries. RBC is calculated using formulas applied to certain financial balances and activities that consider, among other things, investment risks related to the type and quality of investments, insurance risks associated with products and liabilities, interest rate risks and general business risks. Insurance companies that do not maintain capital and surplus at a level at least 200% of the authorized control level RBC are required to take certain actions. At June 30, 2019 and December 31, 2018 , American National Insurance Company’s statutory capital and surplus was $3,403,062,000 and $3,162,808,000 , respectively. American National Insurance Company and each of its insurance subsidiaries had statutory capital and surplus at June 30, 2019 and December 31, 2018 , substantially above 200% of the authorized control level. American National and its insurance subsidiaries prepare statutory-basis financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile, which include certain components of the National Association of Insurance Commissioners’ Codification of Statutory Accounting Principles (“NAIC Codification”). NAIC Codification is intended to standardize regulatory accounting and reporting to state insurance departments. However, statutory accounting practices continue to be established by individual state laws and permitted practices. Modifications by the various state insurance departments may impact the statutory capital and surplus of American National Insurance Company and its insurance subsidiaries. Statutory accounting differs from GAAP primarily by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions, and valuing securities on a different basis. In addition, certain assets are not admitted under statutory accounting principles and are charged directly to surplus. One of American National’s insurance subsidiaries has been granted a permitted practice from the Missouri Department of Insurance to record as the valuation of its investment in a wholly-owned subsidiary that is the attorney-in-fact for a Texas domiciled insurer, the statutory capital and surplus of the Texas domiciled insurer. This permitted practice increases the statutory capital and surplus of both American National Insurance Company and the Missouri domiciled insurance subsidiary by $66,699,000 and $69,787,000 at June 30, 2019 and December 31, 2018 , respectively. The statutory capital and surplus of both American National Insurance Company and the Missouri domiciled insurance subsidiary would have remained substantially above the Company action level RBC had it not used the permitted practice. The statutory capital and surplus and net income of our life and property and casualty insurance entities in accordance with statutory accounting practices are shown below (in thousands): June 30, 2019 December 31, 2018 Statutory capital and surplus Life insurance entities $ 2,146,806 $ 1,989,586 Property and casualty insurance entities 1,268,057 1,183,913 Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Statutory net income (loss) Life insurance entities $ 12,782 $ 12,850 $ 5,698 $ 16,113 Property and casualty insurance entities 12,344 (3,828 ) 50,464 9,230 Dividends We paid a dividend of $ 0.82 for the three months ended June 30, 2019 and December 31, 2018. We expect to continue to pay regular cash dividends, although there is no assurance as to future dividends because they depend on future earnings, capital requirements and financial conditions. American National Insurance Company’s payment of dividends to stockholders is restricted by insurance law. The restrictions require life insurance companies to maintain minimum amounts of capital and surplus, and in the absence of special approval, limit the payment of dividends to the greater of the prior year’s statutory net income from operations, or 10% of prior year statutory surplus. American National Insurance Company is permitted without prior approval of the Texas Department of Insurance to pay total dividends of $316,281,000 during 2019 . Similar restrictions on amounts that can transfer in the form of dividends, loans, or advances to American National Insurance Company apply to its insurance subsidiaries. Noncontrolling interests American National County Mutual Insurance Company (“County Mutual”) is a mutual insurance company owned by its policyholders. American National has a management agreement that effectively gives it control of County Mutual. As a result, County Mutual is included in the consolidated financial statements of American National. Policyholder interests in the financial position of County Mutual are reflected as noncontrolling interest of $6,750,000 at June 30, 2019 and December 31, 2018 . American National Insurance Company and its subsidiaries exercise control or ownership of various joint ventures, resulting in their consolidation into American National’s consolidated financial statements. The interests of the other partners in the consolidated joint ventures are shown as noncontrolling interests of $2,997,000 and $7,517,000 at June 30, 2019 and December 31, 2018 , respectively.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	Management organizes the business into five operating segments: • Life—consists of whole, term, universal, indexed and variable life insurance. Products are primarily sold through career, multiple-line, and independent agents as well as direct marketing channels. • Annuity—consists of fixed, indexed, and variable annuity products. Products are primarily sold through independent agents, brokers, and financial institutions, along with multiple-line and career agents. • Health—consists of Medicare Supplement, stop loss, other supplemental health products and credit disability insurance. Products are typically distributed through independent agents and managing general underwriters. • Property and Casualty—consists of personal, agricultural and targeted commercial coverages and credit-related property insurance. Products are primarily sold through multiple-line and independent agents or managing general agents. • Corporate and Other—consists of net investment income from investments and certain expenses not allocated to the insurance segments and revenues and related expenses from non-insurance operations. The accounting policies of the segments are the same as those described in Note 2 of American National’s 2018 annual report on Form 10-K. All revenues and expenses specifically attributable to policy transactions are recorded directly to the appropriate operating segment. Revenues and expenses not specifically attributable to policy transactions are allocated to each segment as follows: • Recurring income from bonds and mortgage loans is allocated based on the assets allocated to each line of business at the average yield available from these assets. • Net investment income from all other assets is allocated to the insurance segments in accordance with the amount of capital allocated to each segment, with the remainder recorded in the Corporate and Other segment. • Expenses are charged to segments through direct identification and allocations based upon various factors. The results of operations measured as the income before federal income tax and other items by operating segments are summarized below (in thousands): Three months ended June 30, 2019 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 86,087 $ 56,222 $ 42,224 $ 371,739 $ — $ 556,272 Other policy revenues 70,610 4,536 — — — 75,146 Net investment income 63,916 155,355 2,376 16,706 19,377 257,730 Net realized investment losses — — — — (9,905 ) (9,905 ) Net gains on equity securities — — — — 67,060 67,060 Other income 469 574 5,534 2,830 967 10,374 Total premiums and other revenues 221,082 216,687 50,134 391,275 77,499 956,677 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 104,462 72,788 — — — 177,250 Claims incurred — — 26,708 271,608 — 298,316 Interest credited to policyholders’ account balances 15,197 108,490 — — — 123,687 Commissions for acquiring and servicing policies 40,881 23,139 8,692 68,583 — 141,295 Other operating expenses 46,669 13,349 10,707 49,681 9,127 129,533 Change in deferred policy acquisition costs (9,205 ) (4,369 ) (146 ) (3,588 ) — (17,308 ) Total benefits, losses and expenses 198,004 213,397 45,961 386,284 9,127 852,773 Income before federal income tax and other items $ 23,078 $ 3,290 $ 4,173 $ 4,991 $ 68,372 $ 103,904 Three months ended June 30, 2018 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 84,595 $ 67,228 $ 48,870 $ 360,047 $ — $ 560,740 Other policy revenues 67,231 3,907 — — — 71,138 Net investment income 61,082 148,710 2,263 15,493 19,193 246,741 Net realized investment gains — — — — 5,007 5,007 Net gains on equity securities — — — — 57,162 57,162 Other income 512 631 6,809 2,264 1,067 11,283 Total premiums and other revenues 213,420 220,476 57,942 377,804 82,429 952,071 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 96,958 82,103 — — — 179,061 Claims incurred — — 32,310 280,126 — 312,436 Interest credited to policyholders’ account balances 21,046 84,685 — — — 105,731 Commissions for acquiring and servicing policies 39,391 30,355 9,126 70,865 — 149,737 Other operating expenses 48,189 11,853 10,090 45,166 8,649 123,947 Change in deferred policy acquisition costs (7,249 ) (8,811 ) 506 (4,562 ) — (20,116 ) Total benefits, losses and expenses 198,335 200,185 52,032 391,595 8,649 850,796 Income (loss) before federal income tax and other items $ 15,085 $ 20,291 $ 5,910 $ (13,791 ) $ 73,780 $ 101,275 Six months ended June 30, 2019 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 172,555 $ 96,129 $ 80,905 $ 742,920 $ — $ 1,092,509 Other policy revenues 140,854 8,540 — — — 149,394 Net investment income 132,672 346,066 4,796 31,728 34,814 550,076 Net realized investment losses — — — — (6,958 ) (6,958 ) Net gains on equity securities — — — — 273,437 273,437 Other income 1,145 1,263 10,919 5,552 3,033 21,912 Total premiums and other revenues 447,226 451,998 96,620 780,200 304,326 2,080,370 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 213,927 131,549 — — — 345,476 Claims incurred — — 52,475 509,752 — 562,227 Interest credited to policyholders’ account balances 35,516 229,405 — — — 264,921 Commissions for acquiring and servicing policies 78,623 50,005 15,570 135,742 — 279,940 Other operating expenses 95,647 25,823 21,699 101,566 18,408 263,143 Change in deferred policy acquisition costs (14,040 ) (7,389 ) 661 (3,171 ) — (23,939 ) Total benefits, losses and expenses 409,673 429,393 90,405 743,889 18,408 1,691,768 Income before federal income tax and other items $ 37,553 $ 22,605 $ 6,215 $ 36,311 $ 285,918 $ 388,602 Six months ended June 30, 2018 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 165,971 $ 137,844 $ 89,885 $ 712,020 $ — $ 1,105,720 Other policy revenues 134,962 7,515 — — — 142,477 Net investment income 118,850 262,190 4,617 31,354 38,399 455,410 Net realized investment gains — — — — 6,051 6,051 Net gains on equity securities — — — — 23,992 23,992 Other income 1,267 1,356 11,966 4,327 2,880 21,796 Total premiums and other revenues 421,050 408,905 106,468 747,701 71,322 1,755,446 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 195,504 166,849 — — — 362,353 Claims incurred — — 60,450 522,616 — 583,066 Interest credited to policyholders’ account balances 37,311 138,965 — — — 176,276 Commissions for acquiring and servicing policies 78,911 60,359 15,142 140,021 — 294,433 Other operating expenses 99,139 23,172 20,448 92,967 18,615 254,341 Change in deferred policy acquisition costs (13,692 ) (17,684 ) 1,594 (7,300 ) — (37,082 ) Total benefits, losses and expenses 397,173 371,661 97,634 748,304 18,615 1,633,387 Income (loss) before federal income tax and other items $ 23,877 $ 37,244 $ 8,834 $ (603 ) $ 52,707 $ 122,059

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments American National and its subsidiaries lease insurance sales office space, technological equipment, and automobiles. The remaining long-term lease commitments at June 30, 2019 were approximately $18,093,000 . American National had aggregate commitments at June 30, 2019 , to purchase, expand or improve real estate, to fund fixed interest rate mortgage loans, and to purchase other invested assets of $1,136,972,000 of which $558,493,000 is expected to be funded in 2019 with the remainder funded in 2020 and beyond. American National has a $100,000,000 short-term variable rate borrowing facility containing a $55,000,000 sub-feature for the issuance of letters of credit. Borrowings under the facility are at the discretion of the lender and would be used only for funding working capital requirements. The combination of borrowings and outstanding letters of credit cannot exceed $100,000,000 at any time. As of June 30, 2019 and December 31, 2018 , the outstanding letters of credit were $4,006,000 and $2,995,000 , respectively, and there were no borrowings on this facility. This facility expires on October 31, 2019 . Federal Home Loan Bank (FHLB) Agreements In May 2018, the Company became a member of the Federal Home Loan Bank of Dallas (“FHLB”) to augment its liquidity resources. As membership requires the ownership of member stock, the Company purchased $7.0 million of stock to meet the FHLB’s membership requirement. The FHLB member stock is recorded in other invested assets on the Company’s consolidated statements of financial position. Through its membership, the Company has access to the FHLB’s financial services including advances that provide an attractive funding source for short-term borrowing and for access to other funding agreements. As of June 30, 2019 , certain collateralized mortgage obligations (CMO’s) with a fair value of approximately $136.2 million were on deposit with the FHLB as collateral for amounts subject to funding agreements. The deposited securities are included in bonds held-to-maturity on the Company’s consolidated statements of financial position. Guarantees American National has guaranteed bank loans for customers of a third-party marketing operation. The bank loans are used to fund premium payments on life insurance policies issued by American National. The loans are secured by the cash values of the life insurance policies. If the customer were to default on a bank loan, American National would be obligated to pay off the loan. As the cash values of the life insurance policies always equal or exceed the balance of the loans, management does not foresee any loss on these guarantees. The total amount of the guarantees outstanding as of June 30, 2019 , was approximately $136,074,000 , while the total cash value of the related life insurance policies was approximately $142,021,000 . Litigation American National and certain subsidiaries, in common with the insurance industry in general, are defendants in various lawsuits concerning alleged breaches of contracts, various employment matters, allegedly deceptive insurance sales and marketing practices, and miscellaneous other causes of action arising in the ordinary course of operations. Certain of these lawsuits include claims for compensatory and punitive damages. We provide accruals for these items to the extent we deem the losses probable and reasonably estimable. After reviewing these matters with legal counsel, based upon information presently available, management is of the opinion that the ultimate resultant liability, if any, would not have a material adverse effect on American National’s consolidated financial position, liquidity or results of operations; however, assessing the eventual outcome of litigation necessarily involves forward-looking speculation as to judgments to be made by judges, juries and appellate courts in the future. Such speculation warrants caution, as the frequency of large damage awards, which bear little or no relation to the economic damages incurred by plaintiffs in some jurisdictions, continues to create the potential for an unpredictable judgment in any given lawsuit. These lawsuits are in various stages of development, and future facts and circumstances could result in management changing its conclusions. It is possible that, if the defenses in these lawsuits are not successful, and the judgments are greater than management can anticipate, the resulting liability could have a material impact on our consolidated financial position, liquidity or results of operations. With respect to the existing litigation, management currently believes that the possibility of a material judgment adverse to American National is remote and no estimate of range can be made for loss contingencies that are at least reasonably possible but not accrued.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	American National has entered into recurring transactions and agreements with certain related parties. These include mortgage loans, management contracts, agency commission contracts, marketing agreements, health insurance contracts, and legal services. The impact on the consolidated financial statements of significant related party transactions is shown below (in thousands): Dollar Amount of Transactions Six months ended June 30, Amount due to (from) American National Related Party Financial Statement Line Impacted 2019 2018 June 30, 2019 December 31, 2018 Gal-Tex Hotel Corporation Mortgage loan on real estate $ 576 $ 809 $ — $ 576 Gal-Tex Hotel Corporation Net investment income 9 68 — 3 Greer, Herz & Adams, LLP Other operating expenses 5,896 5,379 (494 ) (329 ) Mortgage Loans to Gal-Tex Hotel Corporation (“Gal-Tex”) : American National held a first mortgage loan which originated in 1999, with an interest rate of 7.25% and final maturity date of April 1, 2019 issued to a subsidiary of Gal-Tex, which was collateralized by a hotel property in San Antonio, Texas. This loan has been paid in full. The Moody Foundation owns 34.0% of Gal-Tex and 22.75% of American National, and the Libbie Shearn Moody Trust owns 50.2% of Gal-Tex and 37.0% of American National. Transactions with Greer, Herz & Adams, LLP : Irwin M. Herz, Jr. is a director on the American National Board of Directors and a Partner with Greer, Herz & Adams, LLP, which serves as American National’s General Counsel.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent events On July 1, 2019, the Company sold investment real estate in a consolidated joint venture. Total proceeds from the sale were approximately $27.4 million , and we recognized a pre-tax gain on this sale of approximately $19.0 million . This gain will be recognized in "Net realized investment gains" in the third quarter consolidated statements of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Practices (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Accounting
Consolidation	American National consolidates entities that are wholly-owned and those in which American National owns less than 100%
Reclassification	Certain amounts in prior years have been reclassified to conform to current year presentation.
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the reported consolidated financial statement balances. Actual results could differ from those estimates.

Investment in Securities (Table

Investment in Securities (Tables)	6 Months Ended
Investment in Securities (Tables)	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in Securities	The cost or amortized cost and fair value of investments in securities are shown below (in thousands): June 30, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 207,563 $ 7,146 $ (52 ) $ 214,657 Foreign governments 3,934 492 — 4,426 Corporate debt securities 7,849,211 267,162 (10,580 ) 8,105,793 Residential mortgage-backed securities 205,408 8,109 (737 ) 212,780 Collateralized debt securities 127,892 2,944 (43 ) 130,793 Other debt securities 149 1 — 150 Total bonds held-to-maturity 8,394,157 285,854 (11,412 ) 8,668,599 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,300 489 (44 ) 28,745 U.S. states and political subdivisions 1,063,172 42,859 — 1,106,031 Foreign governments 5,000 1,361 — 6,361 Corporate debt securities 5,479,173 203,949 (16,576 ) 5,666,546 Residential mortgage-backed securities 24,006 848 (169 ) 24,685 Collateralized debt securities 9,706 843 — 10,549 Total bonds available-for-sale 6,609,357 250,349 (16,789 ) 6,842,917 Total investments in securities $ 15,003,514 $ 536,203 $ (28,201 ) $ 15,511,516 December 31, 2018 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 245,360 $ 5,840 $ (301 ) $ 250,899 Foreign governments 3,961 469 — 4,430 Corporate debt securities 7,640,891 58,772 (150,834 ) 7,548,829 Residential mortgage-backed securities 315,306 7,237 (2,633 ) 319,910 Collateralized debt securities 5,214 71 — 5,285 Other debt securities 717 14 — 731 Total bonds held-to-maturity 8,211,449 72,403 (153,768 ) 8,130,084 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,304 338 (243 ) 28,399 U.S. states and political subdivisions 848,228 16,827 (3,025 ) 862,030 Foreign governments 5,000 1,210 — 6,210 Corporate debt securities 5,345,579 41,812 (103,573 ) 5,283,818 Residential mortgage-backed securities 31,735 424 (497 ) 31,662 Collateralized debt securities 2,775 675 (6 ) 3,444 Total bonds available-for-sale 6,261,621 61,286 (107,344 ) 6,215,563 Total investments in securities $ 14,473,070 $ 133,689 $ (261,112 ) $ 14,345,647
Maturities of Investments	The amortized cost and fair value, by contractual maturity, of fixed maturity securities are shown below (in thousands): June 30, 2019 Bonds Held-to-Maturity Bonds Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 430,988 $ 436,069 $ 243,111 $ 245,596 Due after one year through five years 4,033,584 4,153,917 3,211,961 3,313,108 Due after five years through ten years 3,099,228 3,223,700 2,513,056 2,623,952 Due after ten years 830,357 854,913 641,229 660,261 Total $ 8,394,157 $ 8,668,599 $ 6,609,357 $ 6,842,917
Proceeds from Available for Sale Securities and Realized Gain Loss	Proceeds from sales of available-for-sale securities, with the related gross realized gains and losses, are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Proceeds from sales of fixed maturity available-for-sale securities $ — $ 42,932 $ 285 $ 90,113 Gross realized gains — 11,123 — 12,547 Gross realized losses — (32 ) (23 ) (587 )
Change in Net Unrealized Gains (Losses) on Securities	The components of the change in net unrealized gains (losses) on debt securities are shown below (in thousands): Six months ended June 30, 2019 2018 Bonds available-for-sale: change in unrealized gains (losses) $ 279,618 $ (210,413 ) Adjustments for Deferred policy acquisition costs (34,853 ) 41,962 Participating policyholders’ interest (12,811 ) 11,924 Deferred federal income tax benefit (expense) (48,080 ) 28,806 Change in net unrealized gains (losses) on debt securities, net of tax $ 183,874 $ (127,721 ) The components of the change in net gains on equity securities are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Unrealized gains on equity securities $ 51,933 $ 46,087 $ 254,955 $ 11,862 Net gains on equity securities sold 15,127 11,075 18,482 12,130 Net gains on equity securities $ 67,060 $ 57,162 $ 273,437 $ 23,992
Gross Unrealized Losses and Fair Value of Investment Securities	The gross unrealized losses and fair value of the investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are shown below (in thousands): June 30, 2019 Less than 12 months 12 months or more Total Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ — $ — $ (52 ) $ 2,613 $ (52 ) $ 2,613 Corporate debt securities (1,661 ) 137,818 (8,919 ) 436,089 (10,580 ) 573,907 Residential mortgage-backed securities (19 ) 7,368 (718 ) 36,651 (737 ) 44,019 Collateralized debt securities (39 ) 10,771 (4 ) 917 (43 ) 11,688 Total bonds held-to-maturity (1,719 ) 155,957 (9,693 ) 476,270 (11,412 ) 632,227 Fixed maturity securities, bonds available-for-sale U.S. treasury and government — — (44 ) 11,124 (44 ) 11,124 U.S. states and political subdivisions — 1,808 — — — 1,808 Corporate debt securities (1,338 ) 91,488 (15,238 ) 371,471 (16,576 ) 462,959 Residential mortgage-backed securities — — (169 ) 1,820 (169 ) 1,820 Total bonds available-for-sale (1,338 ) 93,296 (15,451 ) 384,415 (16,789 ) 477,711 Total $ (3,057 ) $ 249,253 $ (25,144 ) $ 860,685 $ (28,201 ) $ 1,109,938 December 31, 2018 Less than 12 months 12 months or more Total Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (301 ) $ 22,605 $ — $ — $ (301 ) $ 22,605 Corporate debt securities (90,931 ) 2,969,461 (59,903 ) 1,063,679 (150,834 ) 4,033,140 Residential mortgage-backed securities (703 ) 58,119 (1,930 ) 57,661 (2,633 ) 115,780 Total bonds held-to-maturity (91,935 ) 3,050,185 (61,833 ) 1,121,340 (153,768 ) 4,171,525 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (29 ) 9,741 (214 ) 13,478 (243 ) 23,219 U.S. states and political subdivisions (1,274 ) 119,987 (1,751 ) 61,992 (3,025 ) 181,979 Corporate debt securities (65,492 ) 2,383,548 (38,081 ) 572,600 (103,573 ) 2,956,148 Residential mortgage-backed securities (54 ) 6,034 (443 ) 13,515 (497 ) 19,549 Collateralized debt securities (2 ) 158 (4 ) 100 (6 ) 258 Total bonds available-for-sale (66,851 ) 2,519,468 (40,493 ) 661,685 (107,344 ) 3,181,153 Total $ (158,786 ) $ 5,569,653 $ (102,326 ) $ 1,783,025 $ (261,112 ) $ 7,352,678
Bond by Credit Quality Rating Distribution	The following table identifies the total bonds distributed by credit quality rating (in thousands, except percentages): June 30, 2019 December 31, 2018 Amortized Cost Estimated Fair Value % of Fair Value Amortized Cost Estimated Fair Value % of Fair Value AAA $ 771,497 $ 798,910 5.2 % $ 690,009 $ 702,531 4.9 % AA 1,302,861 1,348,881 8.7 1,326,947 1,336,380 9.3 A 5,597,573 5,803,852 37.4 5,350,316 5,314,589 37.0 BBB 6,873,228 7,109,627 45.8 6,584,478 6,507,212 45.4 BB and below 458,355 450,246 2.9 521,320 484,935 3.4 Total $ 15,003,514 $ 15,511,516 100.0 % $ 14,473,070 $ 14,345,647 100.0 %
Equity Securities by Market Sector Distribution	Equity securities by market sector distribution are shown below: June 30, 2019 December 31, 2018 Consumer goods 20.9 % 21.1 % Energy and utilities 9.1 8.2 Finance 18.1 18.1 Healthcare 13.4 13.5 Industrials 8.0 9.0 Information technology 22.7 22.6 Other 7.8 7.5 Total 100.0 % 100.0 %

Mortgage Loans (Tables)

Mortgage Loans (Tables)	6 Months Ended
Mortgage Loans (Tables)	Jun. 30, 2019
Receivables [Abstract]
Distribution Based on Carrying Amount of Mortgage Loans by Location	The distribution based on carrying amount of mortgage loans by location is as follows: June 30, 2019 December 31, 2018 East North Central 12.5 % 13.9 % East South Central 2.6 2.8 Mountain 21.6 20.0 Pacific 17.3 16.2 South Atlantic 12.5 12.1 West South Central 26.0 27.2 Other 7.5 7.8 Total 100.0 % 100.0 %
Age Analysis of Past Due Loans	The age analysis of past due loans is shown below (in thousands): 30-59 Days 60-89 Days More Than Total June 30, 2019 Past Due Past Due 90 Days Total Current Amount Percent Industrial $ — $ — $ — $ — $ 571,320 $ 571,320 11.3 % Office — — 8,644 8,644 1,660,163 1,668,807 33.1 Retail — — — — 875,078 875,078 17.4 Other — — — — 1,920,927 1,920,927 38.2 Total $ — $ — $ 8,644 $ 8,644 $ 5,027,488 $ 5,036,132 100.0 % Allowance for loan losses (21,422 ) Total, net of allowance $ 5,014,710 December 31, 2018 Industrial $ — $ — $ — $ — $ 761,294 $ 761,294 14.8 % Office — — — — 1,747,926 1,747,926 34.0 Retail — — — — 896,429 896,429 17.4 Other — 4,000 18,888 22,888 1,717,503 1,740,391 33.8 Total $ — $ 4,000 $ 18,888 $ 22,888 $ 5,123,152 $ 5,146,040 100.0 % Allowance for loan losses (21,333 ) Total, net of allowance $ 5,124,707
Change in Allowance for Credit Losses in Mortgage Loans	The change in allowance for credit losses in mortgage loans is shown below (in thousands, except number of loans): Collectively Evaluated for Impairment Individually Impaired Total Number of Loans Recorded Investment Valuation Allowance Number of Loans Recorded Investment Valuation Allowance Number of Loans Recorded Investment Valuation Allowance Beginning balance at January 1, 2019 449 $ 5,128,417 $ 18,607 2 $ 17,623 $ 2,726 451 $ 5,146,040 $ 21,333 Change in allowance — — (179 ) — — 268 — — 89 Net change in recorded investment (9 ) (101,423 ) — — (8,485 ) — (9 ) (109,908 ) — Ending balance at June 30, 2019 440 $ 5,026,994 $ 18,428 2 $ 9,138 $ 2,994 442 $ 5,036,132 $ 21,422
Schedule of Troubled Debt Restructuring Mortgage Loan Information	Troubled debt restructuring mortgage loan information is as follows (in thousands, except number of loans): Six months ended June 30, 2019 2018 Number of Loans Recorded Investment Pre-Modification Recorded Investment Post Modification Number of Loans Recorded Investment Pre-Modification Recorded Investment Post Modification Office 1 $ 9,331 $ 9,331 — $ — $ — Retail 2 40,249 40,249 — — — Industrial 4 20,595 20,595 — — — Total 7 $ 70,175 $ 70,175 — $ — $ —

Real Estate and Other Investm_2

Real Estate and Other Investments (Tables)	6 Months Ended
Real Estate and Other Investments (Tables)	Jun. 30, 2019
Real Estate [Abstract]
Investment Real Estate by Property-Type and Geographic Distribution	Investment real estate by property-type and geographic distribution are as follows: June 30, 2019 December 31, 2018 Industrial 12.8 % 13.1 % Office 38.0 37.3 Retail 37.6 37.0 Other 11.6 12.6 Total 100.0 % 100.0 % June 30, 2019 December 31, 2018 East North Central 5.6 % 5.6 % East South Central 6.0 5.4 Mountain 12.0 11.9 Pacific 7.2 7.3 South Atlantic 15.1 13.8 West South Central 52.5 53.8 Other 1.6 2.2 Total 100.0 % 100.0 %
Assets and Liabilities Related to VIEs	The assets and liabilities relating to the VIEs included in the consolidated financial statements are as follows (in thousands): June 30, 2019 December 31, 2018 Investment real estate $ 135,235 $ 141,843 Short-term investments 501 500 Cash and cash equivalents 10,697 10,392 Other receivables 3,721 3,939 Other assets 12,261 13,231 Total assets of consolidated VIEs $ 162,415 $ 169,905 Notes payable $ 159,577 $ 137,963 Other liabilities 4,755 7,145 Total liabilities of consolidated VIEs $ 164,332 $ 145,108
Schedule of Long-term Notes Payable of Consolidated VIEs	The total long-term notes payable of the consolidated VIEs consists of the following (in thousands): Interest rate Maturity June 30, 2019 December 31, 2018 LIBOR 2020 $ 10,842 $ 10,834 4.18% fixed 2024 65,501 42,399 4% fixed 2022 83,234 84,730 Total $ 159,577 $ 137,963
Carrying Amount and Maximum Exposure to Loss Related to VIEs	The carrying amount and maximum exposure to loss relating to unconsolidated VIEs follows (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Maximum Exposure to Loss Carrying Amount Maximum Exposure to Loss Investment in unconsolidated affiliates $ 322,901 $ 322,901 $ 330,730 $ 330,730 Mortgage loans 623,141 623,141 633,533 633,533 Accrued investment income 2,114 2,114 2,191 2,191

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Reported in Financial Position	The detail of derivative instruments is shown below (in thousands, except number of instruments): Derivatives Not Designated Location in the Consolidated June 30, 2019 December 31, 2018 Number of Notional Estimated Number of Notional Estimated Equity-indexed options Other invested assets 484 $ 2,498,744 $ 231,044 493 $ 2,391,000 $ 148,006 Equity-indexed embedded derivative Policyholders’ account balances 96,014 2,455,001 695,676 90,440 2,327,769 596,075
Schedule of Derivative Instruments Reported in Statements of Operations	Derivatives Not Designated as Hedging Instruments Location in the Consolidated Statements of Operations Gains (Losses) Recognized in Income on Derivatives Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Equity-indexed options Net investment income $ 23,125 $ 21,778 $ 89,610 $ 7,633 Equity-indexed embedded derivative Interest credited to policyholders’ account balances (36,255 ) (17,599 ) (94,411 ) (4,163 )
Schedule of Information Regarding Company's Exposure to Credit Loss on the Options Holds	Information regarding the Company’s exposure to credit loss on the options it holds is presented below (in thousands): June 30, 2019 Counterparty Moody/S&P Rating Options Fair Value Collateral Held in Cash Collateral Held in Invested Assets Total Collateral Held Collateral Amounts used to Offset Exposure Excess Collateral Exposure Net of Collateral Barclays Baa3/BBB $ 53,790 $ 25,393 $ 28,000 $ 53,393 $ 53,393 $ — $ 397 Credit Suisse Baa2/BBB+ 1,223 1,150 — 1,150 1,150 — 73 Goldman-Sachs A3/BBB+ 909 670 — 670 670 — 239 ING Baa1/A- 28,382 12,830 16,000 28,830 28,382 448 — Morgan Stanley A3/BBB+ 26,538 17,516 9,000 26,516 26,516 — 22 NATIXIS* A1/A+ 38,289 38,700 — 38,700 38,289 411 — SunTrust Baa1/BBB+ 48,347 32,350 17,000 49,350 48,320 1,030 27 Wells Fargo A2/A- 33,566 18,550 15,000 33,550 33,313 237 253 Total $ 231,044 $ 147,159 $ 85,000 $ 232,159 $ 230,033 $ 2,126 $ 1,011 December 31, 2018 Counterparty Moody/S&P Rating Options Fair Value Collateral Held in Cash Collateral Held in Invested Assets Total Collateral Held Collateral Amounts used to Offset Exposure Excess Collateral Exposure Net of Collateral Barclays Baa3/BBB $ 38,905 $ 11,063 $ 28,041 $ 39,104 $ 38,905 $ 199 $ — Goldman-Sachs A3/BBB+ 615 670 — 670 615 55 — ING Baa1/A- 24,183 7,960 16,023 23,983 23,983 — 200 Morgan Stanley A3/BBB+ 11,649 2,046 9,013 11,059 11,059 — 590 NATIXIS* A1/A+ 26,786 27,610 — 27,610 26,786 824 — SunTrust Baa1/BBB+ 23,488 6,520 17,025 23,545 23,464 81 24 Wells Fargo A2/A- 22,380 7,030 15,022 22,052 22,052 — 328 Total $ 148,006 $ 62,899 $ 85,124 $ 148,023 $ 146,864 $ 1,159 $ 1,142 * Includes collateral restrictions.

Net Investment Income and Rea_2

Net Investment Income and Realized Investment Gains (Losses) (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Net Investment Income	Net investment income is shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ 150,907 $ 142,529 $ 298,464 $ 282,624 Dividends on equity securities 9,015 10,898 17,307 20,338 Mortgage loans 63,158 58,999 126,357 122,867 Real estate 4,508 4,212 6,363 8,495 Options 23,125 21,778 89,610 7,633 Other invested assets 7,017 8,325 11,975 13,453 Total $ 257,730 $ 246,741 $ 550,076 $ 455,410
Summary of Realized Investment Gains (Losses)	Net realized investment gains (losses) are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ 2,611 $ 6,070 $ 5,213 $ 6,737 Mortgage loans (544 ) (856 ) (89 ) (554 ) Real estate (2,728 ) (197 ) (2,886 ) (114 ) Other invested assets (2,276 ) (10 ) (2,228 ) (18 ) Total $ (2,937 ) $ 5,007 $ 10 $ 6,051 Other-than-temporary impairment losses are shown below (in thousands): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Bonds $ (6,968 ) $ — $ (6,968 ) $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Carrying Amount and Fair Value of Financial Instruments	The carrying amount and fair value of financial instruments are shown below (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity $ 8,394,157 $ 8,668,599 $ 8,211,449 $ 8,130,084 Fixed maturity securities, bonds available-for-sale 6,842,917 6,842,917 6,215,563 6,215,563 Equity securities 1,672,394 1,672,394 1,530,228 1,530,228 Equity-indexed options 231,044 231,044 148,006 148,006 Mortgage loans on real estate, net of allowance 5,014,710 5,127,595 5,124,707 5,049,468 Policy loans 377,669 377,669 376,254 376,254 Short-term investments 597,183 597,183 206,760 206,760 Separate account assets ($1,012,462 and $905,824 included in fair value hierarchy) 1,028,961 1,028,961 918,369 918,369 Separately managed accounts 30,655 30,655 16,532 16,532 Total financial assets $ 24,189,690 $ 24,577,017 $ 22,747,868 $ 22,591,264 Financial liabilities Investment contracts $ 10,444,204 $ 10,444,204 $ 10,003,990 $ 10,003,990 Embedded derivative liability for equity-indexed contracts 695,676 695,676 596,075 596,075 Notes payable 159,577 159,577 137,963 137,963 Separate account liabilities ($1,012,462 and $905,824 included in fair value hierarchy) 1,028,961 1,028,961 918,369 918,369 Total financial liabilities $ 12,328,418 $ 12,328,418 $ 11,656,397 $ 11,656,397
Schedule of Significant Unobservable Inputs Used to Calculate Level 3 Fair Value of Embedded Derivatives within Policyholder Contract Deposits	Shown below are the significant unobservable inputs used to calculate the Level 3 fair value of the embedded derivatives within policyholder contract deposits (in millions, except range percentages): Fair Value Range June 30, 2019 December 31, 2018 Unobservable Input June 30, 2019 December 31, 2018 Indexed Annuities $ 680.5 $ 592.8 Lapse Rate 1-70% 1-70% Mortality Multiplier 90-100% 90-100% Equity Volatility 13-30% 19-26% Indexed Life 15.2 3.3 Equity Volatility 13-30% 19-26%
Quantitative Disclosures Regarding Fair Value Hierarchy Measurements	The carrying value and estimated fair value of financial instruments not recorded at fair value on a recurring basis but required to be disclosed were as follows: June 30, 2019 FV Hierarchy Level Carrying Amount Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions Level 2 $ 207,563 $ 214,657 Foreign governments Level 2 3,934 4,426 Corporate debt securities Level 2 & 3 7,849,211 8,105,793 Residential mortgage-backed securities Level 2 205,408 212,780 Collateralized debt securities Level 2 127,892 130,793 Other debt securities Level 2 149 150 Total fixed maturity securities, bonds held-to-maturity 8,394,157 8,668,599 Mortgage loans on real estate, net allowance Level 3 5,014,710 5,127,595 Policy loans Level 3 377,669 377,669 Separately managed accounts Level 3 30,655 30,655 Total financial assets $ 13,817,191 $ 14,204,518 Financial liabilities Investment contracts Level 3 $ 10,444,204 $ 10,444,204 Notes payable Level 3 159,577 159,577 Total financial liabilities $ 10,603,781 $ 10,603,781 December 31, 2018 FV Hierarchy Level Carrying Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions Level 2 $ 245,360 $ 250,899 Foreign governments Level 2 3,961 4,430 Corporate debt securities Level 2 7,640,891 7,548,829 Residential mortgage-backed securities Level 2 315,306 319,910 Collateralized debt securities Level 2 5,214 5,285 Other debt securities Level 2 717 731 Total fixed maturity securities, bonds held-to-maturity 8,211,449 8,130,084 Mortgage loans on real estate, net allowance Level 3 5,124,707 5,049,468 Policy loans Level 3 376,254 376,254 Separately managed accounts Level 3 16,532 16,532 Total financial assets $ 13,728,942 $ 13,572,338 Financial liabilities Investment contracts Level 3 $ 10,003,990 $ 10,003,990 Notes payable Level 3 137,963 137,963 Total financial liabilities $ 10,141,953 $ 10,141,953 The fair value hierarchy measurements of the financial instruments are shown below (in thousands): Assets and Liabilities Carried at Fair Value by Hierarchy Level as of June 30, 2019 Total Fair Value Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds available-for-sale U.S. treasury and government $ 28,745 $ — $ 28,745 $ — U.S. states and political subdivisions 1,106,031 — 1,106,031 — Foreign governments 6,361 — 6,361 — Corporate debt securities 5,666,546 — 5,662,313 4,233 Residential mortgage-backed securities 24,685 — 24,685 — Collateralized debt securities 10,549 — 10,549 — Total bonds available-for-sale 6,842,917 — 6,838,684 4,233 Equity securities Common stock 1,651,398 1,651,285 — 113 Preferred stock 20,996 20,996 — — Total equity securities 1,672,394 1,672,281 — 113 Options 231,044 — — 231,044 Short-term investments 597,183 — 597,183 — Separate account assets 1,012,462 253,053 759,409 — Total financial assets $ 10,356,000 $ 1,925,334 $ 8,195,276 $ 235,390 Financial liabilities Embedded derivative liability for equity-indexed contracts $ 695,676 $ — $ — $ 695,676 Separate account liabilities 1,012,462 253,053 759,409 — Total financial liabilities $ 1,708,138 $ 253,053 $ 759,409 $ 695,676 Assets and Liabilities Carried at Fair Value by Hierarchy Level as of December 31, 2018 Total Fair Value Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds available-for-sale U.S. treasury and government $ 28,399 $ — $ 28,399 $ — U.S. states and political subdivisions 862,030 — 862,030 — Foreign governments 6,210 — 6,210 — Corporate debt securities 5,283,818 — 5,279,585 4,233 Residential mortgage-backed securities 31,662 — 31,662 — Collateralized debt securities 3,444 — 3,444 — Total bonds available-for-sale 6,215,563 — 6,211,330 4,233 Equity securities Common stock 1,509,186 1,509,073 — 113 Preferred stock 21,042 21,042 — — Total equity securities 1,530,228 1,530,115 — 113 Options 148,006 — — 148,006 Short-term investments 206,760 — 206,760 — Separate account assets 905,824 227,448 678,376 — Total financial assets $ 9,006,381 $ 1,757,563 $ 7,096,466 $ 152,352 Financial liabilities Embedded derivative liability for equity-indexed contracts $ 596,075 $ — $ — $ 596,075 Separate account liabilities 905,824 227,448 678,376 — Total financial liabilities $ 1,501,899 $ 227,448 $ 678,376 $ 596,075
Financial Instruments Measured at Fair Value on Recurring Basis Using (Level 3) Inputs	For financial instruments measured at fair value on a recurring basis using Level 3 inputs during the period, a reconciliation of the beginning and ending balances is shown below (in thousands): Level 3 Three months ended June 30, 2019 Six months ended June 30, 2019 Assets Liability Assets Liability Investment Securities Equity-Indexed Options Embedded Derivative Investment Securities Equity-Indexed Options Embedded Derivative Beginning balance at January 1, 2019 $ 4,346 $ 216,156 $ 668,485 $ 4,346 $ 148,006 $ 596,075 Net gain for derivatives included in net investment income — 23,125 — — 89,610 — Net change included in interest credited — — 36,255 — — 94,411 Purchases, sales and settlements or maturities Purchases — 21,412 — — 38,768 — Settlements or maturities — (29,649 ) — — (45,340 ) — Premiums less benefits — — (9,064 ) — — 5,190 Ending balance at June 30, 2019 $ 4,346 $ 231,044 $ 695,676 $ 4,346 $ 231,044 $ 695,676 Beginning balance at January 1, 2018 $ — $ 204,308 $ 535,641 $ — $ 220,190 $ 512,526 Net gain for derivatives included in net investment income — 21,712 — — 7,567 — Net change included in interest credited — — 17,599 — — 4,163 Purchases, sales and settlements or maturities Purchases — 26,084 — — 43,012 — Settlements or maturities — (34,763 ) — — (53,428 ) — Premiums less benefits — — 39,673 — — 76,224 Ending balance at June 30, 2018 $ — $ 217,341 $ 592,913 $ — $ 217,341 $ 592,913

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	6 Months Ended
Deferred Policy Acquisition Costs (Tables)	Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs	Deferred policy acquisition costs are shown below (in thousands): Life Annuity Health Property & Casualty Total Beginning balance at January 1, 2019 $ 839,133 $ 499,588 $ 33,960 $ 124,580 $ 1,497,261 Additions 64,419 48,168 6,544 158,129 277,260 Amortization (50,379 ) (40,779 ) (7,205 ) (154,958 ) (253,321 ) Effect of change in unrealized gains on available-for-sale debt securities (9,809 ) (25,044 ) — — (34,853 ) Net change 4,231 (17,655 ) (661 ) 3,171 (10,914 ) Ending balance at June 30, 2019 $ 843,364 $ 481,933 $ 33,299 $ 127,751 $ 1,486,347

Liability for Unpaid Claims a_2

Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Insurance [Abstract]
Liability for Unpaid Claims and Claim Adjustment Expenses	Information regarding the liability for unpaid claims is shown below (in thousands): Six months ended June 30, 2019 2018 Unpaid claims balance, beginning $ 1,305,396 $ 1,218,824 Less reinsurance recoverables 254,466 241,302 Net beginning balance 1,050,930 977,522 Incurred related to Current 591,073 586,516 Prior years (30,691 ) (2,501 ) Total incurred claims 560,382 584,015 Paid claims related to Current 272,650 261,019 Prior years 276,738 268,116 Total paid claims 549,388 529,135 Net balance 1,061,924 1,032,402 Plus reinsurance recoverables 249,245 255,684 Unpaid claims balance, ending $ 1,311,169 $ 1,288,086

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	6 Months Ended
Federal Income Taxes (Tables)	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Reconciliation	A reconciliation of the effective tax rate to the statutory federal tax rate is shown below (in thousands, except percentages): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Amount Rate Amount Rate Amount Rate Amount Rate Income tax expense before tax on equity in earnings of unconsolidated affiliates $ 21,819 18.1 % $ 21,267 20.0 % $ 81,606 18.3 % $ 25,632 20.0 % Tax on equity in earnings of unconsolidated affiliates 3,526 2.9 1,348 1.0 12,023 2.7 1,234 1.0 Total expected income tax expense at the statutory rate 25,345 21.0 22,615 21.0 93,629 21.0 26,866 21.0 Tax-exempt investment income (1,109 ) (0.9 ) (836 ) (0.8 ) (1,918 ) (0.4 ) (1,679 ) (1.3 ) Deferred tax change — — (600 ) (0.6 ) — — (909 ) (0.7 ) Dividend exclusion (860 ) (0.7 ) (1,001 ) (0.9 ) (1,781 ) (0.4 ) (1,986 ) (1.6 ) Miscellaneous tax credits, net (3,299 ) (2.7 ) (2,529 ) (2.3 ) (4,991 ) (1.1 ) (4,742 ) (3.7 ) Low income housing tax credit expense 1,783 1.5 1,252 1.2 2,941 0.6 2,504 2.0 Change in valuation allowance 165 0.1 2,700 2.5 165 — 2,700 2.1 Other items, net (77 ) (0.1 ) 356 0.3 1,280 0.3 392 0.3 Provision for federal income taxes $ 21,948 18.2 % $ 21,957 20.4 % $ 89,325 20.0 % $ 23,146 18.1 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2019
Equity [Abstract]
Components of Other Comprehensive Income	The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below (in thousands): Net Unrealized Gains (Losses) on Securities Defined Benefit Pension Plan Adjustments Foreign Currency Adjustments Accumulated Other Comprehensive Income (Loss) Beginning balance at January 1, 2019 $ (42,469 ) $ (54,236 ) $ (3,033 ) $ (99,738 ) Amounts reclassified from AOCI (net of tax expense $565 and $774) 2,126 2,911 — 5,037 Unrealized holding gains arising during the period (net of tax expense $58,322) 219,402 — — 219,402 Unrealized adjustment to DAC (net of tax benefit $7,320) (27,533 ) — — (27,533 ) Unrealized gains on investments attributable to participating policyholders’ interest (net of tax benefit $2,690) (10,121 ) — — (10,121 ) Foreign currency adjustment (net of tax expense $157) — — 590 590 Cumulative effect of changes in accounting 16,166 (16,493 ) (458 ) (785 ) Ending balance at June 30, 2019 $ 157,571 $ (67,818 ) $ (2,901 ) $ 86,852 Beginning balance at January 1, 2018 $ 716,878 $ (72,772 ) $ (1,890 ) $ 642,216 Amounts reclassified from AOCI (net of tax benefit $462 and expense $635) (1,740 ) 2,390 — 650 Unrealized holding losses arising during the period (net of tax benefit $39,660) (168,551 ) — — (168,551 ) Unrealized adjustment to DAC (net of tax expense $8,812) 33,150 — — 33,150 Unrealized losses on investments attributable to participating policyholders’ interest (net of tax expense $2,504) 9,420 — — 9,420 Foreign currency adjustment (net of tax benefit $133) — — (500 ) (500 ) Cumulative effect of changes in accounting (net of tax benefit $334,955) (627,119 ) — — (627,119 ) Ending balance at June 30, 2018 $ (37,962 ) $ (70,382 ) $ (2,390 ) $ (110,734 )

Stockholders' Equity and Nonc_2

Stockholders' Equity and Noncontrolling Interests (Tables)	6 Months Ended
Stockholders' Equity and Noncontrolling Interests (Tables)	Jun. 30, 2019
Equity [Abstract]
Common Stock, Amounts Outstanding	The amounts outstanding at the dates indicated are shown below: June 30, 2019 December 31, 2018 Common stock Shares issued 30,832,449 30,832,449 Treasury shares (3,945,249 ) (3,947,000 ) Outstanding shares 26,887,200 26,885,449 Restricted shares (10,000 ) (10,000 ) Unrestricted outstanding shares 26,877,200 26,875,449
Stock-Based Compensation Information	SAR, RS and RSU information for the periods indicated are shown below: SAR RS Shares RS Units Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Outstanding at December 31, 2018 335 $ 84.41 10,000 $ 80.05 18,316 $ 111.12 Granted — — — — 8,250 113.19 Exercised — — — — (18,316 ) 111.12 Forfeited — — — — — — Expired (269 ) 77.90 — — — — Outstanding at June 30, 2019 66 $ 110.83 10,000 $ 80.05 8,250 $ 113.19 SAR RS Shares RS Units Weighted-average contractual remaining life (in years) 0.84 3.67 0.84 Exercisable shares 66 N/A N/A Weighted-average exercise price $ 110.83 $ 80.05 $ 111.12 Weighted-average exercise price exercisable shares 110.83 N/A N/A Compensation expense (credit) Three months ended June 30, 2019 $ (12,000 ) $ 20,000 $ 578,000 Three months ended June 30, 2018 (5,000 ) 83,000 760,000 Six months ended June 30, 2019 $ (15,000 ) $ 40,000 $ 941,000 Six months ended June 30, 2018 (34,000 ) 284,000 549,000 Fair value of liability award June 30, 2019 $ 1,000 N/A $ 961,000 December 31, 2018 33,000 N/A 2,426,000
Summary of Basic and Diluted Earnings Per Share	Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Weighted average shares outstanding 26,881,700 26,883,276 26,883,699 26,886,196 Incremental shares from RS awards and RSUs 7,264 26,981 6,237 46,927 Total shares for diluted calculations 26,888,964 26,910,257 26,889,936 26,933,123 Net income attributable to American National (in thousands) $ 98,840 $ 84,139 $ 357,057 $ 102,916 Basic earnings per share $ 3.68 $ 3.13 $ 13.28 $ 3.83 Diluted earnings per share $ 3.67 $ 3.12 $ 13.28 $ 3.82
Statutory Capital and Surplus and Net Income of Insurance Entities in Accordance with Statutory Accounting Practices	The statutory capital and surplus and net income of our life and property and casualty insurance entities in accordance with statutory accounting practices are shown below (in thousands): June 30, 2019 December 31, 2018 Statutory capital and surplus Life insurance entities $ 2,146,806 $ 1,989,586 Property and casualty insurance entities 1,268,057 1,183,913 Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Statutory net income (loss) Life insurance entities $ 12,782 $ 12,850 $ 5,698 $ 16,113 Property and casualty insurance entities 12,344 (3,828 ) 50,464 9,230

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2019
Segment Reporting [Abstract]
Summary of Results of Operations Measured as Income Before Federal Income Taxes and Other Items by Operating Segments	The results of operations measured as the income before federal income tax and other items by operating segments are summarized below (in thousands): Three months ended June 30, 2019 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 86,087 $ 56,222 $ 42,224 $ 371,739 $ — $ 556,272 Other policy revenues 70,610 4,536 — — — 75,146 Net investment income 63,916 155,355 2,376 16,706 19,377 257,730 Net realized investment losses — — — — (9,905 ) (9,905 ) Net gains on equity securities — — — — 67,060 67,060 Other income 469 574 5,534 2,830 967 10,374 Total premiums and other revenues 221,082 216,687 50,134 391,275 77,499 956,677 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 104,462 72,788 — — — 177,250 Claims incurred — — 26,708 271,608 — 298,316 Interest credited to policyholders’ account balances 15,197 108,490 — — — 123,687 Commissions for acquiring and servicing policies 40,881 23,139 8,692 68,583 — 141,295 Other operating expenses 46,669 13,349 10,707 49,681 9,127 129,533 Change in deferred policy acquisition costs (9,205 ) (4,369 ) (146 ) (3,588 ) — (17,308 ) Total benefits, losses and expenses 198,004 213,397 45,961 386,284 9,127 852,773 Income before federal income tax and other items $ 23,078 $ 3,290 $ 4,173 $ 4,991 $ 68,372 $ 103,904 Three months ended June 30, 2018 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 84,595 $ 67,228 $ 48,870 $ 360,047 $ — $ 560,740 Other policy revenues 67,231 3,907 — — — 71,138 Net investment income 61,082 148,710 2,263 15,493 19,193 246,741 Net realized investment gains — — — — 5,007 5,007 Net gains on equity securities — — — — 57,162 57,162 Other income 512 631 6,809 2,264 1,067 11,283 Total premiums and other revenues 213,420 220,476 57,942 377,804 82,429 952,071 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 96,958 82,103 — — — 179,061 Claims incurred — — 32,310 280,126 — 312,436 Interest credited to policyholders’ account balances 21,046 84,685 — — — 105,731 Commissions for acquiring and servicing policies 39,391 30,355 9,126 70,865 — 149,737 Other operating expenses 48,189 11,853 10,090 45,166 8,649 123,947 Change in deferred policy acquisition costs (7,249 ) (8,811 ) 506 (4,562 ) — (20,116 ) Total benefits, losses and expenses 198,335 200,185 52,032 391,595 8,649 850,796 Income (loss) before federal income tax and other items $ 15,085 $ 20,291 $ 5,910 $ (13,791 ) $ 73,780 $ 101,275 Six months ended June 30, 2019 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 172,555 $ 96,129 $ 80,905 $ 742,920 $ — $ 1,092,509 Other policy revenues 140,854 8,540 — — — 149,394 Net investment income 132,672 346,066 4,796 31,728 34,814 550,076 Net realized investment losses — — — — (6,958 ) (6,958 ) Net gains on equity securities — — — — 273,437 273,437 Other income 1,145 1,263 10,919 5,552 3,033 21,912 Total premiums and other revenues 447,226 451,998 96,620 780,200 304,326 2,080,370 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 213,927 131,549 — — — 345,476 Claims incurred — — 52,475 509,752 — 562,227 Interest credited to policyholders’ account balances 35,516 229,405 — — — 264,921 Commissions for acquiring and servicing policies 78,623 50,005 15,570 135,742 — 279,940 Other operating expenses 95,647 25,823 21,699 101,566 18,408 263,143 Change in deferred policy acquisition costs (14,040 ) (7,389 ) 661 (3,171 ) — (23,939 ) Total benefits, losses and expenses 409,673 429,393 90,405 743,889 18,408 1,691,768 Income before federal income tax and other items $ 37,553 $ 22,605 $ 6,215 $ 36,311 $ 285,918 $ 388,602 Six months ended June 30, 2018 Property Corporate Life Annuity Health & Casualty & Other Total PREMIUMS AND OTHER REVENUES Premiums $ 165,971 $ 137,844 $ 89,885 $ 712,020 $ — $ 1,105,720 Other policy revenues 134,962 7,515 — — — 142,477 Net investment income 118,850 262,190 4,617 31,354 38,399 455,410 Net realized investment gains — — — — 6,051 6,051 Net gains on equity securities — — — — 23,992 23,992 Other income 1,267 1,356 11,966 4,327 2,880 21,796 Total premiums and other revenues 421,050 408,905 106,468 747,701 71,322 1,755,446 BENEFITS, LOSSES AND EXPENSES Policyholder benefits 195,504 166,849 — — — 362,353 Claims incurred — — 60,450 522,616 — 583,066 Interest credited to policyholders’ account balances 37,311 138,965 — — — 176,276 Commissions for acquiring and servicing policies 78,911 60,359 15,142 140,021 — 294,433 Other operating expenses 99,139 23,172 20,448 92,967 18,615 254,341 Change in deferred policy acquisition costs (13,692 ) (17,684 ) 1,594 (7,300 ) — (37,082 ) Total benefits, losses and expenses 397,173 371,661 97,634 748,304 18,615 1,633,387 Income (loss) before federal income tax and other items $ 23,877 $ 37,244 $ 8,834 $ (603 ) $ 52,707 $ 122,059

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	The impact on the consolidated financial statements of significant related party transactions is shown below (in thousands): Dollar Amount of Transactions Six months ended June 30, Amount due to (from) American National Related Party Financial Statement Line Impacted 2019 2018 June 30, 2019 December 31, 2018 Gal-Tex Hotel Corporation Mortgage loan on real estate $ 576 $ 809 $ — $ 576 Gal-Tex Hotel Corporation Net investment income 9 68 — 3 Greer, Herz & Adams, LLP Other operating expenses 5,896 5,379 (494 ) (329 )

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail)	Jun. 30, 2019state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states	50

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Practices - Additional Information (Detail)	Jun. 30, 2019
Maximum
Schedule Of Significant Accounting Policies [Line Items]
Entity ownership percentage	100.00%

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 01, 2018	Apr. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs			$ 34,853
Retained earnings			5,727,649			$ 5,413,952
Accumulated other comprehensive income (loss)			86,852			$ (99,738)
ASU 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative unrealized gains and losses reclassified from accumulated other comprehensive income to retained earnings	$ 667,700
Offset by participating policyholder's Interest	30,400
Deferred policy acquisition costs		$ 10,200
ASU 2016-01 \| Investment Securities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income from change in unrealized investment gains (losses) on securities			$ 216,000	$ 19,000
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use asset					$ 13,100
ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings					800
Accumulated other comprehensive income (loss)					$ (800)
Retained Earnings \| ASU 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in retained earnings	$ 59,900

Investment in Securities - Inve

Investment in Securities - Investments in Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	$ 8,394,157	$ 8,211,449
Bonds held-to-maturity securities, gross unrealized gains	285,854	72,403
Bonds held-to-maturity securities, gross unrealized (losses)	(11,412)	(153,768)
Fixed maturity securities, bonds held-to-maturity	8,668,599	8,130,084
Bonds available-for-sale securities, amortized cost	6,609,357	6,261,621
Bonds available-for-sale securities, gross unrealized gains	250,349	61,286
Bonds available-for-sale securities, gross unrealized (losses)	(16,789)	(107,344)
Bonds available-for-sale securities, fair value	6,842,917	6,215,563
Bonds investments in securities, cost or amortized cost	15,003,514	14,473,070
Bonds investments in securities, gross unrealized gains	536,203	133,689
Bonds investments in securities, gross unrealized (losses)	(28,201)	(261,112)
Bonds investments in securities, fair value	15,511,516	14,345,647
U.S. states and political subdivisions
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	207,563	245,360
Bonds held-to-maturity securities, gross unrealized gains	7,146	5,840
Bonds held-to-maturity securities, gross unrealized (losses)	(52)	(301)
Fixed maturity securities, bonds held-to-maturity	214,657	250,899
Bonds available-for-sale securities, amortized cost	1,063,172	848,228
Bonds available-for-sale securities, gross unrealized gains	42,859	16,827
Bonds available-for-sale securities, gross unrealized (losses)	0	(3,025)
Bonds available-for-sale securities, fair value	1,106,031	862,030
U.S. treasury and government
Investment [Line Items]
Bonds available-for-sale securities, amortized cost	28,300	28,304
Bonds available-for-sale securities, gross unrealized gains	489	338
Bonds available-for-sale securities, gross unrealized (losses)	(44)	(243)
Bonds available-for-sale securities, fair value	28,745	28,399
Foreign governments
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	3,934	3,961
Bonds held-to-maturity securities, gross unrealized gains	492	469
Bonds held-to-maturity securities, gross unrealized (losses)	0	0
Fixed maturity securities, bonds held-to-maturity	4,426	4,430
Bonds available-for-sale securities, amortized cost	5,000	5,000
Bonds available-for-sale securities, gross unrealized gains	1,361	1,210
Bonds available-for-sale securities, gross unrealized (losses)	0	0
Bonds available-for-sale securities, fair value	6,361	6,210
Corporate debt securities
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	7,849,211	7,640,891
Bonds held-to-maturity securities, gross unrealized gains	267,162	58,772
Bonds held-to-maturity securities, gross unrealized (losses)	(10,580)	(150,834)
Fixed maturity securities, bonds held-to-maturity	8,105,793	7,548,829
Bonds available-for-sale securities, amortized cost	5,479,173	5,345,579
Bonds available-for-sale securities, gross unrealized gains	203,949	41,812
Bonds available-for-sale securities, gross unrealized (losses)	(16,576)	(103,573)
Bonds available-for-sale securities, fair value	5,666,546	5,283,818
Residential mortgage-backed securities
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	205,408	315,306
Bonds held-to-maturity securities, gross unrealized gains	8,109	7,237
Bonds held-to-maturity securities, gross unrealized (losses)	(737)	(2,633)
Fixed maturity securities, bonds held-to-maturity	212,780	319,910
Bonds available-for-sale securities, amortized cost	24,006	31,735
Bonds available-for-sale securities, gross unrealized gains	848	424
Bonds available-for-sale securities, gross unrealized (losses)	(169)	(497)
Bonds available-for-sale securities, fair value	24,685	31,662
Collateralized debt securities
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	127,892	5,214
Bonds held-to-maturity securities, gross unrealized gains	2,944	71
Bonds held-to-maturity securities, gross unrealized (losses)	(43)	0
Fixed maturity securities, bonds held-to-maturity	130,793	5,285
Bonds available-for-sale securities, amortized cost	9,706	2,775
Bonds available-for-sale securities, gross unrealized gains	843	675
Bonds available-for-sale securities, gross unrealized (losses)	0	(6)
Bonds available-for-sale securities, fair value	10,549	3,444
Other debt securities
Investment [Line Items]
Bonds held-to-maturity securities, amortized cost	149	717
Bonds held-to-maturity securities, gross unrealized gains	1	14
Bonds held-to-maturity securities, gross unrealized (losses)	0	0
Fixed maturity securities, bonds held-to-maturity	$ 150	$ 731

Investment in Securities - Matu

Investment in Securities - Maturities of Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Bonds held-to-maturity securities, amortized cost, due in one year or less	$ 430,988
Bonds held-to-maturity securities, amortized cost, due after one year through five years	4,033,584
Bonds held-to-maturity securities, amortized cost, due after five years through ten years	3,099,228
Bonds held-to-maturity securities, amortized cost, due after ten years	830,357
Bonds held-to-maturity securities, amortized cost	8,394,157	$ 8,211,449
Bonds held-to-maturity securities, fair value, due in one year or less	436,069
Bonds held-to-maturity securities, fair value, due after one year through five years	4,153,917
Bonds held-to-maturity securities, fair value, due after five years through ten years	3,223,700
Bonds held-to-maturity securities, fair value, due after ten years	854,913
Bonds held-to-maturity securities, fair value	8,668,599	8,130,084
Bonds available-for-sale securities, amortized cost, due in one year or less	243,111
Bonds available-for-sale securities, amortized cost, due after one year through five years	3,211,961
Bonds available-for-sale securities, amortized cost, due after five years through ten years	2,513,056
Bonds available-for-sale securities, amortized cost, due after ten years	641,229
Bonds available-for-sale securities, amortized cost	6,609,357	6,261,621
Bonds available-for-sale securities, fair value, due in one year or less	245,596
Bonds available-for-sale securities, fair value, due after one year through five years	3,313,108
Bonds available-for-sale securities, fair value, due after five years through ten years	2,623,952
Bonds available-for-sale securities, fair value, due after ten years	660,261
Bonds available-for-sale securities, fair value	$ 6,842,917	$ 6,215,563

Investment in Securities - Proc

Investment in Securities - Proceeds from Available for Sale Securities and Realized Gain Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of fixed maturity available-for-sale securities	$ 0	$ 42,932	$ 285	$ 90,113
Gross realized gains	0	11,123	0	12,547
Gross realized losses	$ 0	$ (32)	$ (23)	$ (587)

Investment in Securities - Addi

Investment in Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Securities transferred from held-to-maturity to available-for-sale	$ 157,939,000,000	$ 34,850,000
Realized loss, transferred securities	$ 0	$ 0

Investment in Securities - Chan

Investment in Securities - Change in Net Unrealized Gains (Losses) on Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Adjustments for
Deferred policy acquisition costs			$ 34,853
Change in net unrealized gains (losses) on debt securities, net of tax	$ 98,360	$ (36,388)	183,874	$ (127,721)
Unrealized gains on equity securities
Net gains on equity securities	67,060	57,162	273,437	23,992
Bonds
Schedule of Available-for-sale Securities [Line Items]
Bonds available-for-sale: change in unrealized gains (losses)			279,618	(210,413)
Adjustments for
Deferred policy acquisition costs			(34,853)	41,962
Participating policyholders’ interest			(12,811)	11,924
Deferred federal income tax benefit (expense)			(48,080)	28,806
Change in net unrealized gains (losses) on debt securities, net of tax			183,874	(127,721)
Equity Securities
Unrealized gains on equity securities
Unrealized gains on equity securities	51,933	46,087	254,955	11,862
Net gains on equity securities sold	15,127	11,075	18,482	12,130
Net gains on equity securities	$ 67,060	$ 57,162	$ 273,437	$ 23,992

Investment in Securities - Gros

Investment in Securities - Gross Unrealized Losses and Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Bonds held-to-maturity securities, less than 12 months, unrealized (losses)	$ (1,719)	$ (91,935)
Bonds held-to-maturity securities, Less than 12 months, fair value	155,957	3,050,185
Bonds held-to-maturity securities, 12 months or more, unrealized (losses)	(9,693)	(61,833)
Bonds held-to-maturity securities, 12 months or more, fair value	476,270	1,121,340
Bonds held-to-maturity securities, total, unrealized (losses)	(11,412)	(153,768)
Bonds held-to-maturity securities, total, fair value	632,227	4,171,525
Bonds available-for-sale securities, less than 12 months, unrealized (losses)	(1,338)	(66,851)
Bonds available-for-sale securities, less than 12 months, fair value	93,296	2,519,468
Bonds available-for-sale securities, 12 months or more, unrealized (losses)	(15,451)	(40,493)
Bonds available-for-sale securities, 12 months or more, fair value	384,415	661,685
Bonds available-for-sale securities, total, unrealized (losses)	(16,789)	(107,344)
Bonds available-for-sale securities, total, fair value	477,711	3,181,153
Bonds investment in securities, less than 12 months, unrealized (losses)	(3,057)	(158,786)
Bonds investment in securities, less than 12 months, fair value	249,253	5,569,653
Bonds investment in securities, more than 12 months, unrealized (losses)	(25,144)	(102,326)
Bonds investment in securities, more than 12 months, fair value	860,685	1,783,025
Bonds investment in securities, total, unrealized (losses)	(28,201)	(261,112)
Bonds investment in securities, total, fair value	1,109,938	7,352,678
U.S. states and political subdivisions
Investment [Line Items]
Bonds held-to-maturity securities, less than 12 months, unrealized (losses)	0	(301)
Bonds held-to-maturity securities, Less than 12 months, fair value	0	22,605
Bonds held-to-maturity securities, 12 months or more, unrealized (losses)	(52)	0
Bonds held-to-maturity securities, 12 months or more, fair value	2,613	0
Bonds held-to-maturity securities, total, unrealized (losses)	(52)	(301)
Bonds held-to-maturity securities, total, fair value	2,613	22,605
Bonds available-for-sale securities, less than 12 months, unrealized (losses)	0	(1,274)
Bonds available-for-sale securities, less than 12 months, fair value	1,808	119,987
Bonds available-for-sale securities, 12 months or more, unrealized (losses)	0	(1,751)
Bonds available-for-sale securities, 12 months or more, fair value	0	61,992
Bonds available-for-sale securities, total, unrealized (losses)	0	(3,025)
Bonds available-for-sale securities, total, fair value	1,808	181,979
U.S. treasury and government
Investment [Line Items]
Bonds available-for-sale securities, less than 12 months, unrealized (losses)	0	(29)
Bonds available-for-sale securities, less than 12 months, fair value	0	9,741
Bonds available-for-sale securities, 12 months or more, unrealized (losses)	(44)	(214)
Bonds available-for-sale securities, 12 months or more, fair value	11,124	13,478
Bonds available-for-sale securities, total, unrealized (losses)	(44)	(243)
Bonds available-for-sale securities, total, fair value	11,124	23,219
Corporate debt securities
Investment [Line Items]
Bonds held-to-maturity securities, less than 12 months, unrealized (losses)	(1,661)	(90,931)
Bonds held-to-maturity securities, Less than 12 months, fair value	137,818	2,969,461
Bonds held-to-maturity securities, 12 months or more, unrealized (losses)	(8,919)	(59,903)
Bonds held-to-maturity securities, 12 months or more, fair value	436,089	1,063,679
Bonds held-to-maturity securities, total, unrealized (losses)	(10,580)	(150,834)
Bonds held-to-maturity securities, total, fair value	573,907	4,033,140
Bonds available-for-sale securities, less than 12 months, unrealized (losses)	(1,338)	(65,492)
Bonds available-for-sale securities, less than 12 months, fair value	91,488	2,383,548
Bonds available-for-sale securities, 12 months or more, unrealized (losses)	(15,238)	(38,081)
Bonds available-for-sale securities, 12 months or more, fair value	371,471	572,600
Bonds available-for-sale securities, total, unrealized (losses)	(16,576)	(103,573)
Bonds available-for-sale securities, total, fair value	462,959	2,956,148
Residential mortgage-backed securities
Investment [Line Items]
Bonds held-to-maturity securities, less than 12 months, unrealized (losses)	(19)	(703)
Bonds held-to-maturity securities, Less than 12 months, fair value	7,368	58,119
Bonds held-to-maturity securities, 12 months or more, unrealized (losses)	(718)	(1,930)
Bonds held-to-maturity securities, 12 months or more, fair value	36,651	57,661
Bonds held-to-maturity securities, total, unrealized (losses)	(737)	(2,633)
Bonds held-to-maturity securities, total, fair value	44,019	115,780
Bonds available-for-sale securities, less than 12 months, unrealized (losses)	0	(54)
Bonds available-for-sale securities, less than 12 months, fair value	0	6,034
Bonds available-for-sale securities, 12 months or more, unrealized (losses)	(169)	(443)
Bonds available-for-sale securities, 12 months or more, fair value	1,820	13,515
Bonds available-for-sale securities, total, unrealized (losses)	(169)	(497)
Bonds available-for-sale securities, total, fair value	1,820	19,549
Collateralized debt securities
Investment [Line Items]
Bonds held-to-maturity securities, less than 12 months, unrealized (losses)	(39)
Bonds held-to-maturity securities, Less than 12 months, fair value	10,771
Bonds held-to-maturity securities, 12 months or more, unrealized (losses)	(4)
Bonds held-to-maturity securities, 12 months or more, fair value	917
Bonds held-to-maturity securities, total, unrealized (losses)	(43)	0
Bonds held-to-maturity securities, total, fair value	$ 11,688
Bonds available-for-sale securities, less than 12 months, unrealized (losses)		(2)
Bonds available-for-sale securities, less than 12 months, fair value		158
Bonds available-for-sale securities, 12 months or more, unrealized (losses)		(4)
Bonds available-for-sale securities, 12 months or more, fair value		100
Bonds available-for-sale securities, total, unrealized (losses)		(6)
Bonds available-for-sale securities, total, fair value		$ 258

Investment in Securities - Bond

Investment in Securities - Bond by Credit Quality Rating Distribution (Detail) - Bonds - Credit Risk Financial Instruments - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Amortized cost	$ 15,003,514	$ 14,473,070
Estimated fair value	$ 15,511,516	$ 14,345,647
Percent of fair value	100.00%	100.00%
AAA
Concentration Risk [Line Items]
Amortized cost	$ 771,497	$ 690,009
Estimated fair value	$ 798,910	$ 702,531
Percent of fair value	5.20%	4.90%
AA
Concentration Risk [Line Items]
Amortized cost	$ 1,302,861	$ 1,326,947
Estimated fair value	$ 1,348,881	$ 1,336,380
Percent of fair value	8.70%	9.30%
A
Concentration Risk [Line Items]
Amortized cost	$ 5,597,573	$ 5,350,316
Estimated fair value	$ 5,803,852	$ 5,314,589
Percent of fair value	37.40%	37.00%
BBB
Concentration Risk [Line Items]
Amortized cost	$ 6,873,228	$ 6,584,478
Estimated fair value	$ 7,109,627	$ 6,507,212
Percent of fair value	45.80%	45.40%
BB and below
Concentration Risk [Line Items]
Amortized cost	$ 458,355	$ 521,320
Estimated fair value	$ 450,246	$ 484,935
Percent of fair value	2.90%	3.40%

Investment in Securities - Equi

Investment in Securities - Equity Securities by Market Sector Distribution (Detail) - Equity Securities - Credit Concentration Risk	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Distribution, percentage	100.00%	100.00%
Consumer goods
Concentration Risk [Line Items]
Distribution, percentage	20.90%	21.10%
Energy and utilities
Concentration Risk [Line Items]
Distribution, percentage	9.10%	8.20%
Finance
Concentration Risk [Line Items]
Distribution, percentage	18.10%	18.10%
Healthcare
Concentration Risk [Line Items]
Distribution, percentage	13.40%	13.50%
Industrials
Concentration Risk [Line Items]
Distribution, percentage	8.00%	9.00%
Information technology
Concentration Risk [Line Items]
Distribution, percentage	22.70%	22.60%
Other
Concentration Risk [Line Items]
Distribution, percentage	7.80%	7.50%

Mortgage Loans - Distribution B

Mortgage Loans - Distribution Based on Carrying Amount of Mortgage Loans by Location (Detail) - Mortgage Loans On Real Estate Concentration Risk - Geographic Concentration Risk	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Distribution, percentage	100.00%	100.00%
East North Central
Concentration Risk [Line Items]
Distribution, percentage	12.50%	13.90%
East South Central
Concentration Risk [Line Items]
Distribution, percentage	2.60%	2.80%
Mountain
Concentration Risk [Line Items]
Distribution, percentage	21.60%	20.00%
Pacific
Concentration Risk [Line Items]
Distribution, percentage	17.30%	16.20%
South Atlantic
Concentration Risk [Line Items]
Distribution, percentage	12.50%	12.10%
West South Central
Concentration Risk [Line Items]
Distribution, percentage	26.00%	27.20%
Other
Concentration Risk [Line Items]
Distribution, percentage	7.50%	7.80%

Mortgage Loans - Additional Inf

Mortgage Loans - Additional Information (Detail)	6 Months Ended		12 Months Ended
Mortgage Loans - Additional Information (Detail)	Jun. 30, 2019USD ($)loan	Jun. 30, 2018loan	Dec. 31, 2018USD ($)loan
Financing Receivable, Modifications [Line Items]
Number of mortgage loan foreclosed \| loan	1		4
Mortgage loans foreclosed \| $	$ 7,363,000		$ 22,608,000
Number of loans in foreclosure process \| loan	1		1
Mortgage loans foreclosure process \| $	$ 8,644,000		$ 7,363,000
Number of mortgage loans sold \| loan	0		0
Unamortized discounts \| $	$ 0		$ 0
Unamortized origination fees, mortgage loans \| $	$ 29,356,000		$ 31,586,000
Number of Loans \| loan	7	0
Commitment to lend additional funds to debtors with modified loans as TDRs \| $	$ 4,042,000
Retail
Financing Receivable, Modifications [Line Items]
Number of Loans \| loan	2	0

Mortgage Loans - Age Analysis o

Mortgage Loans - Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Total past due	$ 8,644	$ 22,888
Current	5,027,488	5,123,152
Gross loan receivable amount	5,036,132	5,146,040
Allowance for loan losses	$ (21,422)	$ (21,333)
Total loans percent	100.00%	100.00%
Total, net of allowance	$ 5,014,710	$ 5,124,707
Industrial
Financing Receivable, Past Due [Line Items]
Total past due	0	0
Current	571,320	761,294
Gross loan receivable amount	$ 571,320	$ 761,294
Total loans percent	11.30%	14.80%
Office
Financing Receivable, Past Due [Line Items]
Total past due	$ 8,644	$ 0
Current	1,660,163	1,747,926
Gross loan receivable amount	$ 1,668,807	$ 1,747,926
Total loans percent	33.10%	34.00%
Retail
Financing Receivable, Past Due [Line Items]
Total past due	$ 0	$ 0
Current	875,078	896,429
Gross loan receivable amount	$ 875,078	$ 896,429
Total loans percent	17.40%	17.40%
Other
Financing Receivable, Past Due [Line Items]
Total past due	$ 0	$ 22,888
Current	1,920,927	1,717,503
Gross loan receivable amount	$ 1,920,927	$ 1,740,391
Total loans percent	38.20%	33.80%
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total past due	$ 0	$ 0
30-59 Days Past Due \| Industrial
Financing Receivable, Past Due [Line Items]
Total past due	0	0
30-59 Days Past Due \| Office
Financing Receivable, Past Due [Line Items]
Total past due	0	0
30-59 Days Past Due \| Retail
Financing Receivable, Past Due [Line Items]
Total past due	0	0
30-59 Days Past Due \| Other
Financing Receivable, Past Due [Line Items]
Total past due	0	0
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total past due	0	4,000
60-89 Days Past Due \| Industrial
Financing Receivable, Past Due [Line Items]
Total past due	0	0
60-89 Days Past Due \| Office
Financing Receivable, Past Due [Line Items]
Total past due	0	0
60-89 Days Past Due \| Retail
Financing Receivable, Past Due [Line Items]
Total past due	0	0
60-89 Days Past Due \| Other
Financing Receivable, Past Due [Line Items]
Total past due	0	4,000
More Than 90 Days
Financing Receivable, Past Due [Line Items]
Total past due	8,644	18,888
More Than 90 Days \| Industrial
Financing Receivable, Past Due [Line Items]
Total past due	0	0
More Than 90 Days \| Office
Financing Receivable, Past Due [Line Items]
Total past due	8,644	0
More Than 90 Days \| Retail
Financing Receivable, Past Due [Line Items]
Total past due	0	0
More Than 90 Days \| Other
Financing Receivable, Past Due [Line Items]
Total past due	$ 0	$ 18,888

Mortgage Loans - Change in Allo

Mortgage Loans - Change in Allowance for Credit Losses in Mortgage Loans (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)loanLoans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Collectively evaluated for impairment, number of loans, beginning balance \| Loans	449
Collectively evaluated for impairment, number of loans, change in recorded investment \| loan	(9)
Collectively evaluated for impairment, number of loans, ending balance \| Loans	440
Collectively evaluated for impairment, recorded investment, beginning balance	$ 5,128,417
Collectively evaluated for impairment, recorded investment, change in recorded investment	(101,423)
Collectively evaluated for impairment, recorded Investment, ending balance	5,026,994
Collectively evaluated for impairment, valuation allowance, beginning balance	18,607
Collectively evaluated for impairment, valuation allowance, change in allowance	(179)
Collectively evaluated for impairment, valuation allowance, ending balance	$ 18,428
Individually impaired, number of loans, beginning balance \| Loans	2
Individually impaired, number of loans, change in recorded investment \| loan	0
Individually impaired, number of loans, ending balance \| Loans	2
Individually impaired, recorded investment, beginning balance	$ 17,623
Individually impaired, recorded investment, change in recorded investment	(8,485)
Individually impaired, recorded investment, ending balance	9,138
Individually impaired, valuation allowance, beginning balance	2,726
Individually impaired, valuation allowance, change in allowance	268
Individually impaired, valuation allowance, ending balance	$ 2,994
Total, number of loans, beginning balance \| Loans	451
Total, number of loans, change in recorded investment \| loan	(9)
Total, number of loans, ending balance \| Loans	442
Total, recorded investment, beginning balance	$ 5,146,040
Total, recorded investment, change in recorded investment	(109,908)
Total, recorded investment, ending balance	5,036,132
Total, valuation allowance, beginning balance	21,333
Total, valuation allowance, change in allowance	89
Total, valuation allowance, ending balance	$ 21,422

Mortgage Loans Mortgage Loans -

Mortgage Loans Mortgage Loans - Schedule of Troubled Debt Restructuring Mortgage Loan Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)loan	Jun. 30, 2018USD ($)loan
Financing Receivable, Modifications [Line Items]
Number of Loans \| loan	7	0
Recorded Investment Pre-Modification	$ 70,175	$ 0
Recorded Investment Post Modification	$ 70,175	$ 0
Office
Financing Receivable, Modifications [Line Items]
Number of Loans \| loan	1	0
Recorded Investment Pre-Modification	$ 9,331	$ 0
Recorded Investment Post Modification	$ 9,331	$ 0
Retail
Financing Receivable, Modifications [Line Items]
Number of Loans \| loan	2	0
Recorded Investment Pre-Modification	$ 40,249	$ 0
Recorded Investment Post Modification	$ 40,249	$ 0
Industrial
Financing Receivable, Modifications [Line Items]
Number of Loans \| loan	4	0
Recorded Investment Pre-Modification	$ 20,595	$ 0
Recorded Investment Post Modification	$ 20,595	$ 0

Real Estate and Other Investm_3

Real Estate and Other Investments - Investment Real Estate by Property-Type and Geographic Distribution (Detail) - Real estate	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Property Type Concentration Risk
Concentration Risk [Line Items]
Percent of fair value	100.00%	100.00%
Property Type Concentration Risk \| Industrial
Concentration Risk [Line Items]
Percent of fair value	12.80%	13.10%
Property Type Concentration Risk \| Office
Concentration Risk [Line Items]
Percent of fair value	38.00%	37.30%
Property Type Concentration Risk \| Retail
Concentration Risk [Line Items]
Percent of fair value	37.60%	37.00%
Property Type Concentration Risk \| Other
Concentration Risk [Line Items]
Percent of fair value	11.60%	12.60%
Geographic Distribution
Concentration Risk [Line Items]
Percent of fair value	100.00%	100.00%
Geographic Distribution \| East North Central
Concentration Risk [Line Items]
Percent of fair value	5.60%	5.60%
Geographic Distribution \| East South Central
Concentration Risk [Line Items]
Percent of fair value	6.00%	5.40%
Geographic Distribution \| Mountain
Concentration Risk [Line Items]
Percent of fair value	12.00%	11.90%
Geographic Distribution \| Pacific
Concentration Risk [Line Items]
Percent of fair value	7.20%	7.30%
Geographic Distribution \| South Atlantic
Concentration Risk [Line Items]
Percent of fair value	15.10%	13.80%
Geographic Distribution \| West South Central
Concentration Risk [Line Items]
Percent of fair value	52.50%	53.80%
Geographic Distribution \| Other
Concentration Risk [Line Items]
Percent of fair value	1.60%	2.20%

Real Estate and Other Investm_4

Real Estate and Other Investments - Assets and Liabilities Related to VIEs (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Investment real estate	$ 582,756	$ 587,516
Short-term investments	597,183	206,760
Cash and cash equivalents	312,835	268,164
Other assets	181,627	163,222
Notes payable	159,577	137,963
Other liabilities	428,155	452,985
VIE, Primary Beneficiary
Variable Interest Entity [Line Items]
Investment real estate	135,235	141,843
Short-term investments	501	500
Cash and cash equivalents	10,697	10,392
Other receivables	3,721	3,939
Other assets	12,261	13,231
Total assets of consolidated VIEs	162,415	169,905
Notes payable	159,577	137,963
Other liabilities	4,755	7,145
Total liabilities of consolidated VIEs	$ 164,332	$ 145,108

Real Estate and Other Investm_5

Real Estate and Other Investments - Additional Information (Detail)	Jun. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)
Real Estate [Abstract]
Maximum amount of investment in long-term notes payable	$ 7,195,000	$ 26,635,000
Number of real estate investment held for sale \| investment	2
Real estate investments held-for-sale	$ 22,842,000

Real Estate and Other Investm_6

Real Estate and Other Investments - Schedule of Long-term Notes Payable of Consolidated VIEs (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Notes payable	$ 159,577	$ 137,963
VIE, Primary Beneficiary
Debt Instrument [Line Items]
Notes payable	159,577	137,963
Long Term Notes Payable Due 2022 \| VIE, Primary Beneficiary
Debt Instrument [Line Items]
Notes payable	$ 83,234	84,730
Interest rate on long-term notes	4.00%
LIBOR \| Long Term Notes Payable Due 2020 \| VIE, Primary Beneficiary
Debt Instrument [Line Items]
Notes payable	$ 10,842	10,834
Basis spread on variable rate	LIBOR
LIBOR \| Long Term Notes Payable Due 2021 \| VIE, Primary Beneficiary
Debt Instrument [Line Items]
Notes payable	$ 65,501	$ 42,399
Basis spread on variable rate	90 day LIBOR + 2.5%
Interest rate percentage	2.50%

Real Estate and Other Investm_7

Real Estate and Other Investments - Carrying Amount and Maximum Exposure to Loss Related to VIEs (Detail) - VIE, Not Primary Beneficiary - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Mortgage loans
Variable Interest Entity [Line Items]
Carrying amount	$ 623,141	$ 633,533
Maximum exposure to loss	623,141	633,533
Investment in unconsolidated affiliates
Variable Interest Entity [Line Items]
Carrying amount	322,901	330,730
Maximum exposure to loss	322,901	330,730
Accrued investment income
Variable Interest Entity [Line Items]
Carrying amount	2,114	2,191
Maximum exposure to loss	$ 2,114	$ 2,191

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments Reported in Financial Position (Detail) - Derivatives Not Designated as Hedging Instruments $ in Thousands	Jun. 30, 2019USD ($)derivative	Dec. 31, 2018USD ($)derivative
Equity-indexed options \| Other invested assets
Derivatives, Fair Value [Line Items]
Number of Instruments \| derivative	484	493
Notional Amount, assets	$ 2,498,744	$ 2,391,000
Estimated Fair Value, assets	$ 231,044	$ 148,006
Equity-indexed embedded derivative \| Policyholders’ account balances
Derivatives, Fair Value [Line Items]
Number of Instruments \| derivative	96,014	90,440
Notional Amount, liabilities	$ 2,455,001	$ 2,327,769
Estimated Fair Value, liabilities	$ 695,676	$ 596,075

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Derivative Instruments Reported in Statements of Operations (Detail) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net investment income \| Equity-indexed options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Income on Derivatives	$ 23,125	$ 21,778	$ 89,610	$ 7,633
Interest credited to policyholders’ account balances \| Equity-indexed embedded derivative
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Income on Derivatives	$ (36,255)	$ (17,599)	$ (94,411)	$ (4,163)

Derivative Instruments - Sche_3

Derivative Instruments - Schedule of Information Regarding Company's Exposure to Credit Loss on the Options Holds (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Credit Derivatives [Line Items]
Options Fair Value	$ 231,044	$ 148,006
Collateral Held	232,159	148,023
Collateral Amounts used to Offset Exposure	230,033	146,864
Excess Collateral	2,126	1,159
Exposure Net of Collateral	1,011	1,142
Barclays \| Moody's, Baa3 Rating \| S&P BBB Rating
Credit Derivatives [Line Items]
Options Fair Value	53,790	38,905
Collateral Held	53,393	39,104
Collateral Amounts used to Offset Exposure	53,393	38,905
Excess Collateral	0	199
Exposure Net of Collateral	397	0
Credit Suisse \| Moody's, Baa2 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Options Fair Value	1,223
Collateral Held	1,150
Collateral Amounts used to Offset Exposure	1,150
Excess Collateral	0
Exposure Net of Collateral	73
Goldman-Sachs \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Options Fair Value	909	615
Collateral Held	670	670
Collateral Amounts used to Offset Exposure	670	615
Excess Collateral	0	55
Exposure Net of Collateral	239	0
ING \| Moody Baa1 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Options Fair Value	28,382	24,183
Collateral Held	28,830	23,983
Collateral Amounts used to Offset Exposure	28,382	23,983
Excess Collateral	448	0
Exposure Net of Collateral	0	200
Morgan Stanley \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Options Fair Value	26,538	11,649
Collateral Held	26,516	11,059
Collateral Amounts used to Offset Exposure	26,516	11,059
Excess Collateral	0	0
Exposure Net of Collateral	22	590
NATIXIS \| Moody's, A1 Rating \| S&P A Plus Rating
Credit Derivatives [Line Items]
Options Fair Value	38,289	26,786
Collateral Held	38,700	27,610
Collateral Amounts used to Offset Exposure	38,289	26,786
Excess Collateral	411	824
Exposure Net of Collateral	0	0
SunTrust \| Moody Baa1 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Options Fair Value	48,347	23,488
Collateral Held	49,350	23,545
Collateral Amounts used to Offset Exposure	48,320	23,464
Excess Collateral	1,030	81
Exposure Net of Collateral	27	24
Wells Fargo \| Moody A2 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Options Fair Value	33,566	22,380
Collateral Held	33,550	22,052
Collateral Amounts used to Offset Exposure	33,313	22,052
Excess Collateral	237	0
Exposure Net of Collateral	253	328
Collateral Held in Cash
Credit Derivatives [Line Items]
Collateral Held	147,159	62,899
Collateral Held in Cash \| Barclays \| Moody's, Baa3 Rating \| S&P BBB Rating
Credit Derivatives [Line Items]
Collateral Held	25,393	11,063
Collateral Held in Cash \| Credit Suisse \| Moody's, Baa2 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	1,150
Collateral Held in Cash \| Goldman-Sachs \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	670	670
Collateral Held in Cash \| ING \| Moody Baa1 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Collateral Held	12,830	7,960
Collateral Held in Cash \| Morgan Stanley \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	17,516	2,046
Collateral Held in Cash \| NATIXIS \| Moody's, A1 Rating \| S&P A Plus Rating
Credit Derivatives [Line Items]
Collateral Held	38,700	27,610
Collateral Held in Cash \| SunTrust \| Moody Baa1 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	32,350	6,520
Collateral Held in Cash \| Wells Fargo \| Moody A2 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Collateral Held	18,550	7,030
Collateral Held in Invested Assets
Credit Derivatives [Line Items]
Collateral Held	85,000	85,124
Collateral Held in Invested Assets \| Barclays \| Moody's, Baa3 Rating \| S&P BBB Rating
Credit Derivatives [Line Items]
Collateral Held	28,000	28,041
Collateral Held in Invested Assets \| Credit Suisse \| Moody's, Baa2 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	0
Collateral Held in Invested Assets \| Goldman-Sachs \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	0	0
Collateral Held in Invested Assets \| ING \| Moody Baa1 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Collateral Held	16,000	16,023
Collateral Held in Invested Assets \| Morgan Stanley \| Moody A3 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	9,000	9,013
Collateral Held in Invested Assets \| NATIXIS \| Moody's, A1 Rating \| S&P A Plus Rating
Credit Derivatives [Line Items]
Collateral Held	0	0
Collateral Held in Invested Assets \| SunTrust \| Moody Baa1 Rating \| S&P BBB Plus Rating
Credit Derivatives [Line Items]
Collateral Held	17,000	17,025
Collateral Held in Invested Assets \| Wells Fargo \| Moody A2 Rating \| S&P A Minus Rating
Credit Derivatives [Line Items]
Collateral Held	$ 15,000	$ 15,022

Net Investment Income and Rea_3

Net Investment Income and Realized Investment Gains (Losses) - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Investment Income [Line Items]
Net Investment Income, Total	$ 257,730	$ 246,741	$ 550,076	$ 455,410
Bonds
Net Investment Income [Line Items]
Net Investment Income, Total	150,907	142,529	298,464	282,624
Dividends on equity securities
Net Investment Income [Line Items]
Net Investment Income, Total	9,015	10,898	17,307	20,338
Mortgage loans
Net Investment Income [Line Items]
Net Investment Income, Total	63,158	58,999	126,357	122,867
Real estate
Net Investment Income [Line Items]
Net Investment Income, Total	4,508	4,212	6,363	8,495
Other invested assets
Net Investment Income [Line Items]
Net Investment Income, Total	7,017	8,325	11,975	13,453
Options
Net Investment Income [Line Items]
Net Investment Income, Total	$ 23,125	$ 21,778	$ 89,610	$ 7,633

Net Investment Income and Rea_4

Net Investment Income and Realized Investment Gains (Losses) - Summary of Realized Investment Gains (Losses) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	$ (2,937)	$ 5,007	$ 10	$ 6,051
Bonds
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	2,611	6,070	5,213	6,737
Mortgage loans
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	(544)	(856)	(89)	(554)
Real estate
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	(2,728)	(197)	(2,886)	(114)
Other invested assets
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	$ (2,276)	$ (10)	$ (2,228)	$ (18)

Net Investment Income and Rea_5

Net Investment Income and Realized Investment Gains (Losses) - Summary of Other Than Temporary Impairment Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Gain (Loss) on Securities [Line Items]
Other-than-temporary impairments	$ 6,968	$ 0	$ 6,968	$ 0
Bonds
Gain (Loss) on Securities [Line Items]
Other-than-temporary impairments	$ (6,968)	$ 0	$ (6,968)	$ 0

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Amount and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial assets
Fixed maturity securities, bonds held-to-maturity	$ 8,394,157	$ 8,211,449
Fixed maturity securities, bonds held-to-maturity	8,668,599	8,130,084
Fixed maturity securities, bonds available-for-sale	6,842,917	6,215,563
Equity securities	1,672,394	1,530,228
Mortgage loans on real estate, net of allowance	5,014,710	5,124,707
Policy loans	377,669	376,254
Short-term investments	597,183	206,760
Separate account assets	1,028,961	918,369
Financial liabilities
Notes payable	159,577	137,963
Separate account liabilities	1,028,961	918,369
Fair Value, Inputs, Level 1, 2 and 3
Financial assets
Separate account assets	1,012,462	905,824
Financial liabilities
Separate account liabilities	1,012,462	905,824
Carrying Amount
Financial assets
Fixed maturity securities, bonds held-to-maturity	8,394,157	8,211,449
Fixed maturity securities, bonds available-for-sale	6,842,917	6,215,563
Equity securities	1,672,394	1,530,228
Equity-indexed options	231,044	148,006
Mortgage loans on real estate, net of allowance	5,014,710	5,124,707
Policy loans	377,669	376,254
Short-term investments	597,183	206,760
Separate account assets	1,028,961	918,369
Separately managed accounts	30,655	16,532
Total financial assets	24,189,690	22,747,868
Financial liabilities
Investment contracts	10,444,204	10,003,990
Embedded derivative liability for equity-indexed contracts	695,676	596,075
Notes payable	159,577	137,963
Separate account liabilities	1,028,961	918,369
Total financial liabilities	12,328,418	11,656,397
Fair Value
Financial assets
Fixed maturity securities, bonds held-to-maturity	8,668,599	8,130,084
Fixed maturity securities, bonds available-for-sale	6,842,917	6,215,563
Equity securities	1,672,394	1,530,228
Equity-indexed options	231,044	148,006
Mortgage loans on real estate, net of allowance	5,127,595	5,049,468
Policy loans	377,669	376,254
Short-term investments	597,183	206,760
Separate account assets	1,028,961	918,369
Separately managed accounts	30,655	16,532
Total financial assets	24,577,017	22,591,264
Financial liabilities
Investment contracts	10,444,204	10,003,990
Embedded derivative liability for equity-indexed contracts	695,676	596,075
Notes payable	159,577	137,963
Separate account liabilities	1,028,961	918,369
Total financial liabilities	$ 12,328,418	$ 11,656,397

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unrealized gain (losses) relating to assets still held and included in net investment income	$ 84,756,000	$ 18,321,000
Transfer between Level 1 and Level 2 fair value hierarchies	$ 0	$ 0
Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity volatility (as percent)	0.133		0.232

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Significant Unobservable Inputs Used to Calculate Level 3 Fair Value of Embedded Derivatives within Policyholder Contract Deposits (Detail) - Policyholder Contract Deposits - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Indexed Annuities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative financial liabilities	$ 680,500	$ 592,800
Indexed Life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative financial liabilities	$ 15,200	$ 3,300
Minimum \| Level 3 \| Indexed Annuities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input, lapse rate	1.00%	1.00%
Unobservable input, mortality multiplier	90.00%	90.00%
Unobservable input, equity volatility	13.00%	19.00%
Minimum \| Level 3 \| Indexed Life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input, equity volatility	13.00%	19.00%
Maximum \| Level 3 \| Indexed Annuities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input, lapse rate	70.00%	70.00%
Unobservable input, mortality multiplier	100.00%	100.00%
Unobservable input, equity volatility	30.00%	26.00%
Maximum \| Level 3 \| Indexed Life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input, equity volatility	30.00%	26.00%

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Quantitative Disclosures Regarding Fair Value Hierarchy Measurements (Detail) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financial assets
Fixed maturity securities, bonds held-to-maturity	$ 8,394,157,000	$ 8,211,449,000
Fixed maturity securities, bonds held-to-maturity	8,668,599,000	8,130,084,000
Fixed maturity securities, bonds available-for-sale	6,842,917,000	6,215,563,000
Equity securities	1,672,394,000	1,530,228,000
Mortgage loans on real estate, net allowance	5,036,132,000	5,146,040,000
Policy loans	377,669,000	376,254,000
Short-term investments	597,183,000	206,760,000
Separate account assets	1,028,961,000	918,369,000
Total assets	28,386,180,000	26,912,353,000
Financial liabilities
Notes payable	159,577,000	137,963,000
Separate account liabilities	1,028,961,000	918,369,000
Total liabilities	22,618,598,000	21,640,838,000
U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds held-to-maturity	207,563,000	245,360,000
Fixed maturity securities, bonds held-to-maturity	214,657,000	250,899,000
Fixed maturity securities, bonds available-for-sale	1,106,031,000	862,030,000
Foreign governments
Financial assets
Fixed maturity securities, bonds held-to-maturity	3,934,000	3,961,000
Fixed maturity securities, bonds held-to-maturity	4,426,000	4,430,000
Fixed maturity securities, bonds available-for-sale	6,361,000	6,210,000
Corporate debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	7,849,211,000	7,640,891,000
Fixed maturity securities, bonds held-to-maturity	8,105,793,000	7,548,829,000
Fixed maturity securities, bonds available-for-sale	5,666,546,000	5,283,818,000
Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	205,408,000	315,306,000
Fixed maturity securities, bonds held-to-maturity	212,780,000	319,910,000
Fixed maturity securities, bonds available-for-sale	24,685,000	31,662,000
Collateralized debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	127,892,000	5,214,000
Fixed maturity securities, bonds held-to-maturity	130,793,000	5,285,000
Fixed maturity securities, bonds available-for-sale	10,549,000	3,444,000
Other debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	149,000	717,000
Fixed maturity securities, bonds held-to-maturity	150,000	731,000
U.S. treasury and government
Financial assets
Fixed maturity securities, bonds available-for-sale	28,745,000	28,399,000
Recurring
Financial assets
Fixed maturity securities, bonds available-for-sale	6,842,917,000	6,215,563,000
Equity securities	1,672,394,000	1,530,228,000
Equity-indexed options	231,044,000	148,006,000
Short-term investments	597,183,000	206,760,000
Separate account assets	1,012,462,000	905,824,000
Total financial assets	10,356,000,000	9,006,381,000
Financial liabilities
Embedded derivative liability for equity-indexed contracts	695,676,000	596,075,000
Separate account liabilities	1,012,462,000	905,824,000
Total financial liabilities	1,708,138,000	1,501,899,000
Recurring \| Common stock
Financial assets
Equity securities	1,651,398,000	1,509,186,000
Recurring \| Preferred stock
Financial assets
Equity securities	20,996,000	21,042,000
Recurring \| U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds available-for-sale	1,106,031,000	862,030,000
Recurring \| Foreign governments
Financial assets
Fixed maturity securities, bonds available-for-sale	6,361,000	6,210,000
Recurring \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	5,666,546,000	5,283,818,000
Recurring \| Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds available-for-sale	24,685,000	31,662,000
Recurring \| Collateralized debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	10,549,000	3,444,000
Recurring \| U.S. treasury and government
Financial assets
Fixed maturity securities, bonds available-for-sale	28,745,000	28,399,000
Recurring \| Level 1
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Equity securities	1,672,281,000	1,530,115,000
Equity-indexed options	0	0
Short-term investments	0	0
Separate account assets	253,053,000	227,448,000
Total financial assets	1,925,334,000	1,757,563,000
Financial liabilities
Embedded derivative liability for equity-indexed contracts	0	0
Separate account liabilities	253,053,000	227,448,000
Total financial liabilities	253,053,000	227,448,000
Recurring \| Level 1 \| Common stock
Financial assets
Equity securities	1,651,285,000	1,509,073,000
Recurring \| Level 1 \| Preferred stock
Financial assets
Equity securities	20,996,000	21,042,000
Recurring \| Level 1 \| U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 1 \| Foreign governments
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 1 \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 1 \| Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 1 \| Collateralized debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 1 \| U.S. treasury and government
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 2
Financial assets
Fixed maturity securities, bonds available-for-sale	6,838,684,000	6,211,330,000
Equity securities	0	0
Equity-indexed options	0	0
Short-term investments	597,183,000	206,760,000
Separate account assets	759,409,000	678,376,000
Total financial assets	8,195,276,000	7,096,466,000
Financial liabilities
Embedded derivative liability for equity-indexed contracts	0	0
Separate account liabilities	759,409,000	678,376,000
Total financial liabilities	759,409,000	678,376,000
Recurring \| Level 2 \| Common stock
Financial assets
Equity securities	0	0
Recurring \| Level 2 \| Preferred stock
Financial assets
Equity securities	0	0
Recurring \| Level 2 \| U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds available-for-sale	1,106,031,000	862,030,000
Recurring \| Level 2 \| Foreign governments
Financial assets
Fixed maturity securities, bonds available-for-sale	6,361,000	6,210,000
Recurring \| Level 2 \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	5,662,313,000	5,279,585,000
Recurring \| Level 2 \| Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds available-for-sale	24,685,000	31,662,000
Recurring \| Level 2 \| Collateralized debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	10,549,000	3,444,000
Recurring \| Level 2 \| U.S. treasury and government
Financial assets
Fixed maturity securities, bonds available-for-sale	28,745,000	28,399,000
Recurring \| Level 3
Financial assets
Fixed maturity securities, bonds available-for-sale	4,233,000	4,233,000
Equity securities	113,000	113,000
Equity-indexed options	231,044,000	148,006,000
Short-term investments	0	0
Separate account assets	0	0
Total financial assets	235,390,000	152,352,000
Financial liabilities
Embedded derivative liability for equity-indexed contracts	695,676,000	596,075,000
Separate account liabilities	0	0
Total financial liabilities	695,676,000	596,075,000
Recurring \| Level 3 \| Common stock
Financial assets
Equity securities	113,000	113,000
Recurring \| Level 3 \| Preferred stock
Financial assets
Equity securities	0	0
Recurring \| Level 3 \| U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 3 \| Foreign governments
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 3 \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	4,233,000	4,233,000
Recurring \| Level 3 \| Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 3 \| Collateralized debt securities
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Recurring \| Level 3 \| U.S. treasury and government
Financial assets
Fixed maturity securities, bonds available-for-sale	0	0
Nonrecurring
Financial assets
Fixed maturity securities, bonds held-to-maturity	8,394,157	8,211,449
Fixed maturity securities, bonds held-to-maturity	8,668,599	8,130,084
Total assets	13,817,191	13,728,942
Total financial assets	14,204,518	13,572,338
Financial liabilities
Total liabilities	10,603,781	10,141,953
Total financial liabilities	10,603,781	10,141,953
Nonrecurring \| Level 2 \| U.S. states and political subdivisions
Financial assets
Fixed maturity securities, bonds held-to-maturity	207,563	245,360
Fixed maturity securities, bonds held-to-maturity	214,657	250,899
Nonrecurring \| Level 2 \| Foreign governments
Financial assets
Fixed maturity securities, bonds held-to-maturity	3,934	3,961
Fixed maturity securities, bonds held-to-maturity	4,426	4,430
Nonrecurring \| Level 2 \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity		7,640,891
Fixed maturity securities, bonds held-to-maturity		7,548,829
Nonrecurring \| Level 2 \| Residential mortgage-backed securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	205,408	315,306
Fixed maturity securities, bonds held-to-maturity	212,780	319,910
Nonrecurring \| Level 2 \| Collateralized debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	127,892	5,214
Fixed maturity securities, bonds held-to-maturity	130,793	5,285
Nonrecurring \| Level 2 \| Other debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	149	717
Fixed maturity securities, bonds held-to-maturity	150	731
Nonrecurring \| Level 3
Financial assets
Mortgage loans on real estate, net allowance	5,014,710	5,124,707
Mortgage loans on real estate, net allowance	5,127,595	5,049,468
Policy loans	377,669	376,254
Policy loans	377,669	376,254
Separately managed accounts	30,655	16,532
Separately managed accounts	30,655	16,532
Financial liabilities
Investment contracts	10,444,204	10,003,990
Investment contracts	10,444,204	10,003,990
Notes payable	159,577	137,963
Notes payable	159,577	$ 137,963
Nonrecurring \| Level 2 and 3 \| Corporate debt securities
Financial assets
Fixed maturity securities, bonds held-to-maturity	7,849,211
Fixed maturity securities, bonds held-to-maturity	$ 8,105,793

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value on Recurring Basis Using (Level 3) Inputs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Embedded Derivative
Fair Value, Liabilities Measured on Recurring Basis [Roll Forward]
Beginning balance	$ 668,485	$ 535,641	$ 596,075	$ 512,526
Net gain for derivatives included in net investment income	0	0	0	0
Net change included in interest credited	36,255	17,599	94,411	4,163
Purchases, sales and settlements or maturities
Purchases	0	0	0	0
Settlements or maturities	0	0	0	0
Premiums less benefits	(9,064)	39,673	5,190	76,224
Ending balance	695,676	592,913	695,676	592,913
Investment Securities
Fair Value, Assets Measured on Recurring Basis [Roll Forward]
Beginning balance	4,346	0	4,346	0
Net gain for derivatives included in net investment income	0	0	0	0
Net change included in interest credited	0	0	0	0
Purchases, sales and settlements or maturities
Purchases	0	0	0	0
Settlements or maturities	0	0	0	0
Premiums less benefits	0	0	0	0
Ending balance	4,346	0	4,346	0
Equity-Indexed Options
Fair Value, Assets Measured on Recurring Basis [Roll Forward]
Beginning balance	216,156	204,308	148,006	220,190
Net gain for derivatives included in net investment income	23,125	21,712	89,610	7,567
Net change included in interest credited	0	0	0	0
Purchases, sales and settlements or maturities
Purchases	21,412	26,084	38,768	43,012
Settlements or maturities	(29,649)	(34,763)	(45,340)	(53,428)
Premiums less benefits	0	0	0	0
Ending balance	$ 231,044	$ 217,341	$ 231,044	$ 217,341

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Deferred Policy Acquisition Costs (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 1,497,261
Additions	277,260
Amortization	(253,321)
Effect of change in unrealized gains on available-for-sale debt securities	(34,853)
Net change	(10,914)
Ending balance	1,486,347
Life
Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	839,133
Additions	64,419
Amortization	(50,379)
Effect of change in unrealized gains on available-for-sale debt securities	(9,809)
Net change	4,231
Ending balance	843,364
Annuity
Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	499,588
Additions	48,168
Amortization	(40,779)
Effect of change in unrealized gains on available-for-sale debt securities	(25,044)
Net change	(17,655)
Ending balance	481,933
Health
Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	33,960
Additions	6,544
Amortization	(7,205)
Effect of change in unrealized gains on available-for-sale debt securities	0
Net change	(661)
Ending balance	33,299
Property & Casualty
Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	124,580
Additions	158,129
Amortization	(154,958)
Effect of change in unrealized gains on available-for-sale debt securities	0
Net change	3,171
Ending balance	$ 127,751

Liability for Unpaid Claims a_3

Liability for Unpaid Claims and Claim Adjustment Expenses - Liability for Unpaid Claims and Claim Adjustment Expenses (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Liability For Unpaid Claims And Claims Adjustment Expense Net
Unpaid claims balance, beginning	$ 1,481,294
Less reinsurance recoverables	427,475
Paid claims related to
Plus reinsurance recoverables	437,152
Unpaid claims balance, ending	1,477,780
Property and Casualty Accident and Health
Liability For Unpaid Claims And Claims Adjustment Expense Net
Unpaid claims balance, beginning	1,305,396	$ 1,218,824
Less reinsurance recoverables	254,466	241,302
Net beginning balance	1,050,930	977,522
Incurred related to
Current	591,073	586,516
Prior years	(30,691)	(2,501)
Total incurred claims	560,382	584,015
Paid claims related to
Current	272,650	261,019
Prior years	276,738	268,116
Total paid claims	549,388	529,135
Net balance	1,061,924	1,032,402
Plus reinsurance recoverables	249,245	255,684
Unpaid claims balance, ending	$ 1,311,169	$ 1,288,086

Liability for Unpaid Claims a_4

Liability for Unpaid Claims and Claim Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Insurance [Abstract]
Description of increase (decrease) in claims and claim adjustment expenses	The net and gross reserve calculations have shown favorable development as a result of favorable loss emergence compared to what was implied by the loss development patterns used in the original estimation of losses in prior years.
Decrease in claims and claim adjustments expenses amount	$ 30,691	$ 2,501
Short-duration health insurance claims	$ 23,627

Federal Income Taxes - Effectiv

Federal Income Taxes - Effective Income Tax Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax expense before tax on equity in earnings of unconsolidated affiliates	$ 21,819	$ 21,267	$ 81,606	$ 25,632
Tax on equity in earnings of unconsolidated affiliates	3,526	1,348	12,023	1,234
Total expected income tax expense at the statutory rate	25,345	22,615	93,629	26,866
Tax-exempt investment income	(1,109)	(836)	(1,918)	(1,679)
Deferred tax change	0	(600)	0	(909)
Dividend exclusion	(860)	(1,001)	(1,781)	(1,986)
Miscellaneous tax credits, net	(3,299)	(2,529)	(4,991)	(4,742)
Low income housing tax credit expense	1,783	1,252	2,941	2,504
Change in valuation allowance	165	2,700	165	2,700
Other items, net	(77)	356	1,280	392
Provision for federal income taxes	$ 21,948	$ 21,957	$ 89,325	$ 23,146
Income tax expense before tax on equity in earnings of unconsolidated affiliates, percentage	18.10%	20.00%	18.30%	20.00%
Tax on equity in earnings of unconsolidated affiliates, percentage	2.90%	1.00%	2.70%	1.00%
Total expected income tax expense at the statutory rate, percentage	21.00%	21.00%	21.00%	21.00%
Tax-exempt investment income, percentage	(0.90%)	(0.80%)	(0.40%)	(1.30%)
Deferred tax change, percentage	0.00%	(0.60%)	0.00%	(0.70%)
Dividend exclusion, percentage	(0.70%)	(0.90%)	(0.40%)	(1.60%)
Miscellaneous tax credits, net, percentage	(2.70%)	(2.30%)	(1.10%)	(3.70%)
Low income housing tax credit expense, percentage	1.50%	1.20%	0.60%	2.00%
Change in valuation allowance, percentage	0.10%	2.50%	0.00%	2.10%
Other items, net, percentage	(0.10%)	0.30%	0.30%	0.30%
Provision for federal income tax before interest expense, percentage	18.20%	20.40%	20.00%	18.10%

Federal Income Taxes - Addition

Federal Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Tax Credit Carryforward [Line Items]
Income taxes paid or refunded, net	$ 40,440,000	$ 14,135,000
Income tax examination description	American National’s federal income tax returns for years 2015 to 2017 are subject to examination by the Internal Revenue Service.
AMT Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 6,933,000
General Business Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	758,000
Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 656,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of the period	$ 5,592,919	$ 5,221,510	$ 5,271,515	$ 5,255,771
Foreign currency adjustment, net of tax benefit	746	(134)	590	(500)
Balance at end of the period	5,767,582	5,242,067	5,767,582	5,242,067
Net Unrealized Gains (Losses) on Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of the period			(42,469)	716,878
Amounts reclassified from AOCI, net of tax expense (benefit)			2,126	(1,740)
Unrealized holding gains (losses) arising during the period, net of tax expense (benefit)			219,402	(168,551)
Unrealized adjustment to DAC, net of tax expense (benefit)			(27,533)	33,150
Unrealized gains (losses) on investments attributable to participating policyholders' interest, net of tax expense (benefit)			(10,121)	9,420
Cumulative effect of changes in accounting	16,166	(627,119)	16,166	(627,119)
Balance at end of the period	157,571	(37,962)	157,571	(37,962)
Defined Benefit Pension Plan Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of the period			(54,236)	(72,772)
Amounts reclassified from AOCI, net of tax expense (benefit)			2,911	2,390
Cumulative effect of changes in accounting	(16,493)		(16,493)
Balance at end of the period	(67,818)	(70,382)	(67,818)	(70,382)
Foreign Currency Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of the period			(3,033)	(1,890)
Foreign currency adjustment, net of tax benefit			590	(500)
Cumulative effect of changes in accounting	(458)		(458)
Balance at end of the period	(2,901)	(2,390)	(2,901)	(2,390)
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of the period	(13,749)	(86,070)	(99,738)	642,216
Amounts reclassified from AOCI, net of tax expense (benefit)			5,037	650
Unrealized holding gains (losses) arising during the period, net of tax expense (benefit)			219,402	(168,551)
Unrealized adjustment to DAC, net of tax expense (benefit)			(27,533)	33,150
Unrealized gains (losses) on investments attributable to participating policyholders' interest, net of tax expense (benefit)			(10,121)	9,420
Foreign currency adjustment, net of tax benefit			590	(500)
Cumulative effect of changes in accounting	(785)	(627,119)	(785)	(627,119)
Balance at end of the period	$ 86,852	$ (110,734)	86,852	(110,734)
Amounts reclassified from AOCI, sale of securities tax expense (benefit)			565	462
Amounts reclassified from AOCI, pension tax expense (benefit)			774	635
Unrealized holding gains (losses) arising during the period, tax expense			58,322	(39,660)
Unrealized adjustment to deferred policy acquisition costs, tax expense (benefit)			7,320	8,812
Unrealized gains (losses) on investments attributable to participating policyholders' interest, tax expense (benefit)			(2,690)	2,504
Foreign currency adjustment, tax expense (benefit)			$ 157	(133)
Cumulative effect of changes in accounting, net of tax benefit				$ 334,955

Stockholders' Equity and Nonc_3

Stockholders' Equity and Noncontrolling Interests - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in usd per share)	$ 1		$ 1		$ 1
Common stock, shares authorized (in shares)	50,000,000		50,000,000		50,000,000
Maximum limit of shares available for grants under stock-based compensation plan	2,900,000		2,900,000
Maximum limit of shares granted to any one individual in any calendar year			200,000
Risk based capital action level percentage			200.00%
Cash dividends to common stockholders (in usd per share)	$ 0.82	$ 0.82	$ 1.64	$ 1.64	$ 820
Description of regulatory capital requirement			American National Insurance Company’s payment of dividends to stockholders is restricted by insurance law. The restrictions require life insurance companies to maintain minimum amounts of capital and surplus, and in the absence of special approval, limit the payment of dividends to the greater of the prior year’s statutory net income from operations, or 10% of prior year statutory surplus.
Noncontrolling interest	$ 9,747		$ 9,747		$ 14,267
Scenario, Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory amount available for dividend payments without regulatory approval						$ 316,281
Parent Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory capital and surplus	3,403,062		3,403,062		3,162,808
Subsidiaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest	2,997		$ 2,997		$ 7,517
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk based capital action level percentage			200.00%		200.00%
Insurance Subsidiary \| Missouri
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory accounting practices permitted practice amount			$ 66,699		$ 69,787
County Mutual
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest	$ 6,750		$ 6,750		$ 6,750
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Expiration of vesting period			5 years
Stock Appreciation Rights \| Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate per year			20.00%
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			10 years
Lapse restrictions on restricted stock awards			10 years
Shares granted	350,334		350,334
Exercise price of Restricted shares granted			$ 0
Number of shares unvested	10,000		10,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period description			RSUs granted vest after a one-year or three-year graded vesting requirement or over a shorter period as a result of death, disability or retirement after age 65.
Graded Vesting \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year

Stockholders' Equity and Nonc_4

Stockholders' Equity and Noncontrolling Interests - Common Stock, Amounts Outstanding (Detail) - shares	Jun. 30, 2019	Dec. 31, 2018
Equity [Abstract]
Shares issued	30,832,449	30,832,449
Treasury shares	(3,945,249)	(3,947,000)
Outstanding shares	26,887,200	26,885,449
Restricted shares	(10,000)	(10,000)
Unrestricted outstanding shares	26,877,200	26,875,449

Stockholders' Equity and Nonc_5

Stockholders' Equity and Noncontrolling Interests - Stock-Based Compensation Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance, shares			335
Forfeited, shares			(269)
Ending balance, shares	66		66
Weighted-Average Grant Date Fair Value, Beginning balance			$ 84.41
Weighted-Average Grant Date Fair Value, Expired			77.90
Weighted-Average Grant Date Fair Value, Ending balance	$ 110.83		$ 110.83
Weighted-average contractual remaining life (in years)			25 days
Exercisable shares	66		66
Weighted-average exercise price			$ 110.83
Weighted-average exercise price exercisable shares	$ 110.83		$ 110.83
Compensation expense (credit)	$ (12,000)	$ (5,000)	$ (15,000)	$ (34,000)
Fair value of liability award	$ 1,000		$ 1,000		$ 33,000
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance, shares			10,000
Ending balance, shares	10,000		10,000
Weighted-Average Grant Date Fair Value, Beginning balance			$ 80.05
Weighted-Average Grant Date Fair Value, Ending balance	$ 80.05		$ 80.05
Weighted-average contractual remaining life (in years)			3 years 8 months 1 day
Weighted-average exercise price			$ 80.05
Compensation expense (credit)	$ 20,000	83,000	$ 40,000	284,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance, shares			18,316
Granted, shares			8,250
Exercised, shares			(18,316)
Ending balance, shares	8,250		8,250
Weighted-Average Grant Date Fair Value, Beginning balance			$ 111.12
Weighted-Average Grant Date Fair Value, Granted			113.19
Weighted-Average Grant Date Fair Value, Exercised			111.12
Weighted-Average Grant Date Fair Value, Ending balance	$ 113.19		$ 113.19
Weighted-average contractual remaining life (in years)			25 days
Weighted-average exercise price			$ 111.12
Compensation expense (credit)	$ 578,000	$ 760,000	$ 941,000	$ 549,000
Fair value of liability award	$ 961,000		$ 961,000		$ 2,426,000

Stockholders' Equity and Nonc_6

Stockholders' Equity and Noncontrolling Interests - Summary of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Weighted average shares outstanding	26,881,700		26,883,276		26,883,699	26,886,196
Incremental shares from RS awards and RSUs	7,264		26,981		6,237	46,927
Total shares for diluted calculations	26,888,964		26,910,257		26,889,936	26,933,123
Net income attributable to American National (in thousands)	$ 98,840	$ 258,217	$ 84,139	$ 18,777	$ 357,057	$ 102,916
Basic earnings per share (in usd per share)	$ 3.68		$ 3.13		$ 13.28	$ 3.83
Diluted earnings per share (in usd per share)	$ 3.67		$ 3.12		$ 13.28	$ 3.82

Stockholders' Equity and Nonc_7

Stockholders' Equity and Noncontrolling Interests - Statutory Capital and Surplus and Net Income of Insurance Entities in Accordance with Statutory Accounting Practices (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Life insurance entities
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 2,146,806		$ 2,146,806		$ 1,989,586
Statutory net income (loss)	12,782	$ 12,850	5,698	$ 16,113
Property and casualty insurance entities
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	1,268,057		1,268,057		$ 1,183,913
Statutory net income (loss)	$ 12,344	$ (3,828)	$ 50,464	$ 9,230

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2019segment
Segment Reporting [Abstract]
Segment information, number of operating segments	5

Segment Information - Summary o

Segment Information - Summary of Results of Operations Measured as Income Before Federal Income Taxes and Other Items by Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Premiums	$ 556,272	$ 560,740	$ 1,092,509	$ 1,105,720
Other policy revenues	75,146	71,138	149,394	142,477
Net investment income	257,730	246,741	550,076	455,410
Net realized investment losses	(9,905)	5,007	(6,958)	6,051
Net gains on equity securities	67,060	57,162	273,437	23,992
Other income	10,374	11,283	21,912	21,796
Total premiums and other revenues	956,677	952,071	2,080,370	1,755,446
Policyholder benefits	177,250	179,061	345,476	362,353
Claims incurred	298,316	312,436	562,227	583,066
Interest credited to policyholders’ account balances	123,687	105,731	264,921	176,276
Commissions for acquiring and servicing policies	141,295	149,737	279,940	294,433
Other operating expenses	129,533	123,947	263,143	254,341
Change in deferred policy acquisition costs	(17,308)	(20,116)	(23,939)	(37,082)
Total benefits, losses and expenses	852,773	850,796	1,691,768	1,633,387
Income before federal income tax and other items	103,904	101,275	388,602	122,059
Life
Segment Reporting Information [Line Items]
Premiums	86,087	84,595	172,555	165,971
Other policy revenues	70,610	67,231	140,854	134,962
Net investment income	63,916	61,082	132,672	118,850
Net realized investment losses	0	0	0	0
Net gains on equity securities	0	0	0	0
Other income	469	512	1,145	1,267
Total premiums and other revenues	221,082	213,420	447,226	421,050
Policyholder benefits	104,462	96,958	213,927	195,504
Claims incurred	0	0	0	0
Interest credited to policyholders’ account balances	15,197	21,046	35,516	37,311
Commissions for acquiring and servicing policies	40,881	39,391	78,623	78,911
Other operating expenses	46,669	48,189	95,647	99,139
Change in deferred policy acquisition costs	(9,205)	(7,249)	(14,040)	(13,692)
Total benefits, losses and expenses	198,004	198,335	409,673	397,173
Income before federal income tax and other items	23,078	15,085	37,553	23,877
Annuity
Segment Reporting Information [Line Items]
Premiums	56,222	67,228	96,129	137,844
Other policy revenues	4,536	3,907	8,540	7,515
Net investment income	155,355	148,710	346,066	262,190
Net realized investment losses	0	0	0	0
Net gains on equity securities	0	0	0	0
Other income	574	631	1,263	1,356
Total premiums and other revenues	216,687	220,476	451,998	408,905
Policyholder benefits	72,788	82,103	131,549	166,849
Claims incurred	0	0	0	0
Interest credited to policyholders’ account balances	108,490	84,685	229,405	138,965
Commissions for acquiring and servicing policies	23,139	30,355	50,005	60,359
Other operating expenses	13,349	11,853	25,823	23,172
Change in deferred policy acquisition costs	(4,369)	(8,811)	(7,389)	(17,684)
Total benefits, losses and expenses	213,397	200,185	429,393	371,661
Income before federal income tax and other items	3,290	20,291	22,605	37,244
Health
Segment Reporting Information [Line Items]
Premiums	42,224	48,870	80,905	89,885
Other policy revenues	0	0	0	0
Net investment income	2,376	2,263	4,796	4,617
Net realized investment losses	0	0	0	0
Net gains on equity securities	0	0	0	0
Other income	5,534	6,809	10,919	11,966
Total premiums and other revenues	50,134	57,942	96,620	106,468
Policyholder benefits	0	0	0	0
Claims incurred	26,708	32,310	52,475	60,450
Interest credited to policyholders’ account balances	0	0	0	0
Commissions for acquiring and servicing policies	8,692	9,126	15,570	15,142
Other operating expenses	10,707	10,090	21,699	20,448
Change in deferred policy acquisition costs	(146)	506	661	1,594
Total benefits, losses and expenses	45,961	52,032	90,405	97,634
Income before federal income tax and other items	4,173	5,910	6,215	8,834
Property & Casualty
Segment Reporting Information [Line Items]
Premiums	371,739	360,047	742,920	712,020
Other policy revenues	0	0	0	0
Net investment income	16,706	15,493	31,728	31,354
Net realized investment losses	0	0	0	0
Net gains on equity securities	0	0	0	0
Other income	2,830	2,264	5,552	4,327
Total premiums and other revenues	391,275	377,804	780,200	747,701
Policyholder benefits	0	0	0	0
Claims incurred	271,608	280,126	509,752	522,616
Interest credited to policyholders’ account balances	0	0	0	0
Commissions for acquiring and servicing policies	68,583	70,865	135,742	140,021
Other operating expenses	49,681	45,166	101,566	92,967
Change in deferred policy acquisition costs	(3,588)	(4,562)	(3,171)	(7,300)
Total benefits, losses and expenses	386,284	391,595	743,889	748,304
Income before federal income tax and other items	4,991	(13,791)	36,311	(603)
Corporate & Other
Segment Reporting Information [Line Items]
Premiums	0	0	0	0
Other policy revenues	0	0	0	0
Net investment income	19,377	19,193	34,814	38,399
Net realized investment losses	(9,905)	5,007	(6,958)	6,051
Net gains on equity securities	67,060	57,162	273,437	23,992
Other income	967	1,067	3,033	2,880
Total premiums and other revenues	77,499	82,429	304,326	71,322
Policyholder benefits	0	0	0	0
Claims incurred	0	0	0	0
Interest credited to policyholders’ account balances	0	0	0	0
Commissions for acquiring and servicing policies	0	0	0	0
Other operating expenses	9,127	8,649	18,408	18,615
Change in deferred policy acquisition costs	0	0	0	0
Total benefits, losses and expenses	9,127	8,649	18,408	18,615
Income before federal income tax and other items	$ 68,372	$ 73,780	$ 285,918	$ 52,707

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	May 31, 2018	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Remaining long-term lease commitments		$ 18,093,000
Commitments outstanding, aggregate amount		1,136,972,000
Commitments expected to be funded in 2019		558,493,000
Short-term borrowing facility, maximum capacity		100,000,000
Short-term borrowing facility, letters of credit		55,000,000
Letters of credit outstanding, amount		$ 4,006,000	$ 2,995,000
Short-term borrowing facility, expiration date		Oct. 31, 2019
FHLB stock purchased	$ 7,000,000
Fair value of collateral held at FHLB		$ 136,200,000
Total amount of guarantees outstanding		136,074,000
Life insurance policies with guarantees, cash value		$ 142,021,000

Related Party Transactions - Re

Related Party Transactions - Related Party Transactions (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Gal-Tex Hotel Corporation \| Mortgage loan on real estate
Related Party Transaction [Line Items]
Dollar Amount of Transactions	$ 576	$ 809
Gal-Tex Hotel Corporation \| Net investment income
Related Party Transaction [Line Items]
Dollar Amount of Transactions	9	68
Gal-Tex Hotel Corporation \| Mortgage loan on real estate
Related Party Transaction [Line Items]
Amount due to (from) American National	0		$ 576
Gal-Tex Hotel Corporation \| Net investment income
Related Party Transaction [Line Items]
Amount due to (from) American National	0		3
Greer, Herz & Adams, LLP \| Other operating expenses
Related Party Transaction [Line Items]
Dollar Amount of Transactions	5,896	$ 5,379
Greer, Herz & Adams, LLP \| Other operating expenses
Related Party Transaction [Line Items]
Amount due to (from) American National	$ (494)		$ (329)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Affiliate	6 Months Ended
	Jun. 30, 2019
Related Party Transaction [Line Items]
Interest rate on mortgage loans	7.25%
Due date of mortgage loans receivable	Apr. 1, 2019
Moody Foundation \| Gal-Tex
Related Party Transaction [Line Items]
Noncontrolling owners, ownership percentage	34.00%
Moody Foundation \| American National
Related Party Transaction [Line Items]
Noncontrolling owners, ownership percentage	22.75%
Libbie Shearn Moody Trust
Related Party Transaction [Line Items]
Noncontrolling owners, ownership percentage	50.20%
Libbie Shearn Moody Trust \| American National
Related Party Transaction [Line Items]
Noncontrolling owners, ownership percentage	37.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event $ in Millions	Jul. 01, 2019USD ($)
Subsequent Event [Line Items]
Proceeds from real estate sale	$ 27.4
Pre-tax gain on sale of real estate	$ 19