American National 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 01, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	ANAT
Entity Registrant Name	AMERICAN NATIONAL INSURANCE CO /TX/
Entity Central Index Key	904,163
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		26,885,449

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Fixed maturity, bonds held-to-maturity, at amortized cost (Fair value $7,963,724 and $7,774,353)	$ 7,915,973	$ 7,552,959
Fixed maturity, bonds available-for-sale, at fair value (Amortized cost $6,100,771 and $5,957,901)	6,145,010	6,145,308
Equity securities, at fair value (Cost $776,740 and $757,583)	1,770,753	1,784,226
Mortgage loans on real estate, net of allowance	4,920,041	4,749,999
Policy loans	374,930	377,103
Investment real estate, net of accumulated depreciation of $264,345 and $260,904	536,699	532,346
Short-term investments	284,456	658,765
Other invested assets	82,722	80,165
Total investments	22,030,584	21,880,871
Cash and cash equivalents	329,036	375,837
Investments in unconsolidated affiliates	493,191	484,207
Accrued investment income	193,776	187,670
Reinsurance recoverables	412,805	418,589
Prepaid reinsurance premiums	61,993	63,625
Premiums due and other receivables	329,592	314,345
Deferred policy acquisition costs	1,410,864	1,373,844
Property and equipment, net of accumulated depreciation of $223,034 and $217,076	114,062	115,818
Current tax receivable	6,949	44,170
Other assets	141,420	158,024
Separate account assets	939,605	969,764
Total assets	26,463,877	26,386,764
LIABILITIES
Life	3,002,178	2,997,353
Annuity	1,435,323	1,400,150
Accident and health	55,940	57,104
Policyholders' account balances	12,238,653	12,060,045
Policy and contract claims	1,375,793	1,390,561
Unearned premium reserve	898,117	875,294
Other policyholder funds	325,348	334,501
Liability for retirement benefits	111,028	114,538
Notes payable	137,389	137,458
Deferred tax liabilities, net	294,071	316,370
Other liabilities	428,922	477,855
Separate account liabilities	939,605	969,764
Total liabilities	21,242,367	21,130,993
American National stockholders' equity:
Common stock, $1.00 par value,-Authorized 50,000,000, Issued 30,832,449 and 30,832,449 Outstanding 26,938,341 and 26,931,884 shares	30,832	30,832
Additional paid-in capital	20,069	19,193
Accumulated other comprehensive income (loss)	(86,070)	642,216
Retained earnings	5,350,129	4,656,134
Treasury stock, at cost	(101,546)	(101,616)
Total American National stockholders' equity	5,213,414	5,246,759
Noncontrolling interest	8,096	9,012
Total equity	5,221,510	5,255,771
Total liabilities and equity	$ 26,463,877	$ 26,386,764

Consolidated Statements of Fin3

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fair value of bonds held-to-maturity	$ 7,963,724	$ 7,774,353
Amortized cost of bonds available-for-sale	6,100,771	5,957,901
Cost of equity securities	776,740	757,583
Accumulated depreciation of investment real estate	264,345	260,904
Property and equipment, net of accumulated depreciation	$ 223,034	$ 217,076
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	30,832,449	30,832,449
Common stock, shares outstanding	26,938,341	26,931,884

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Premiums
Life	$ 81,376	$ 77,474
Annuity	70,616	29,809
Accident and health	41,015	37,039
Property and casualty	351,973	327,450
Other policy revenues	71,339	63,452
Net investment income	176,039	228,503
Net realized investment gains	2,099	14,008
Other-than-temporary impairments	(1,595)	(6,783)
Other income	10,513	8,845
Total premiums and other revenues	803,375	779,797
Policyholder benefits
Life	98,546	101,166
Annuity	84,746	43,989
Claims incurred
Accident and health	28,140	24,380
Property and casualty	242,490	227,530
Interest credited to policyholders' account balances	70,545	96,008
Commissions for acquiring and servicing policies	144,696	125,492
Other operating expenses	130,394	126,061
Change in deferred policy acquisition costs	(16,966)	(9,487)
Total benefits, losses and expenses	782,591	735,139
Income before federal income tax and other items	20,784	44,658
Less: Provision (benefit) for federal income taxes
Current	(2,105)	(1,204)
Deferred	3,294	14,939
Total provision for federal income taxes	1,189	13,735
Income after federal income tax	19,595	30,923
Equity in earnings (losses) of unconsolidated affiliates	(545)	9,500
Other components of net periodic pension costs, net of tax	(792)	(1,232)
Net income	18,258	39,191
Less : Net loss attributable to noncontrolling interest, net of tax	(519)	(649)
Net income attributable to American National	$ 18,777	$ 39,840
Earnings per share
Basic	$ 0.70	$ 1.48
Diluted	0.70	1.48
Cash dividends to common stockholders	$ 0.82	$ 0.82
Weighted average common shares outstanding	26,889,151	26,899,648
Weighted average common shares outstanding and dilutive potential common shares	26,964,355	26,972,128

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 18,258	$ 39,191
Other comprehensive income (loss), net of tax
Change in net unrealized gains (losses) on securities	(91,333)	55,912
Foreign currency transaction and translation adjustments	(366)	112
Defined benefit pension plan adjustment	789	1,534
Other comprehensive income (loss), net of tax	(90,910)	57,558
Total comprehensive income (loss)	(72,652)	96,749
Less: Comprehensive loss attributable to noncontrolling interest	(519)	(649)
Total comprehensive income (loss) attributable to American National	$ (72,133)	$ 97,398

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
Balance at beginning of the period at Dec. 31, 2016		$ 30,832	$ 16,406	$ 455,899	$ 4,250,818	$ (101,777)	$ 9,317
Contributions							224
Reissuance of treasury shares			1,379			182
Net income attributable to American National	$ 39,840				39,840
Distributions							(246)
Amortization of restricted stock			207
Other comprehensive income (loss)	57,558			57,558
Cash dividends to common stockholders					(22,080)
Net loss attributable to noncontrolling interest							(649)
Balance at end of the period at Mar. 31, 2017	4,737,910		17,992	513,457	4,268,578	(101,595)	8,646
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
Cumulative effect of accounting change				(637,376)	697,307
Reissuance of treasury shares			675			70
Net income attributable to American National	18,777				18,777
Distributions							(397)
Amortization of restricted stock			201
Other comprehensive income (loss)	(90,910)			(90,910)
Cash dividends to common stockholders					(22,089)
Net loss attributable to noncontrolling interest							(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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net income	$ 18,258	$ 39,191
Adjustments to reconcile net income to net cash provided by operating activities
Net realized investment gains	(2,099)	(14,008)
Other-than-temporary impairments	1,595	6,783
Accretion of premiums, discounts and loan origination fees	(2,325)	(2,661)
Net capitalized interest on policy loans and mortgage loans	(10,808)	(8,368)
Depreciation	12,992	14,981
Interest credited to policyholders' account balances	70,545	96,008
Charges to policyholders' account balances	(71,339)	(63,452)
Deferred federal income tax expense	3,294	14,939
Equity in (earnings) losses of unconsolidated affiliates	545	(9,500)
Distributions from equity method investments	245	410
Changes in Policyholder liabilities	44,688	39,136
Deferred policy acquisition costs	(16,966)	(9,487)
Reinsurance recoverables	5,784	29,163
Premiums due and other receivables	(15,247)	(16,257)
Prepaid reinsurance premiums	1,632	239
Accrued investment income	(6,106)	18
Current tax receivable/payable	37,221	(3,260)
Liability for retirement benefits	(2,511)	(3,366)
Fair value of option securities	14,166	(23,034)
Fair value of equity securities	32,630
Other, net	3,882	22,604
Net cash provided by operating activities	120,076	110,079
INVESTING ACTIVITIES
Held-to-maturity securities	152,587	203,445
Available-for-sale securities	136,481	118,007
Investment real estate	4,264	3,911
Mortgage loans	89,936	104,007
Policy loans	16,893	12,885
Other invested assets	20,527	14,404
Disposals of property and equipment		1,408
Distributions from unconsolidated affiliates	6,461	2,639
Held-to-maturity securities	(529,876)	(28,356)
Available-for-sale securities	(258,285)	(138,132)
Investment real estate	(16,052)	(7,829)
Mortgage loans	(247,555)	(212,561)
Policy loans	(5,976)	(6,201)
Other invested assets	(20,128)	(7,577)
Additions to property and equipment	(4,232)	(10,588)
Contributions to unconsolidated affiliates	(20,926)	(14,748)
Change in short-term investments	374,309	(219,723)
Change in collateral held for derivatives	(17,093)	14,062
Other, net	(5,058)	15,649
Net cash used in investing activities	(323,723)	(155,298)
FINANCING ACTIVITIES
Policyholders' account deposits	461,788	393,369
Policyholders' account withdrawals	(282,386)	(322,746)
Change in notes payable	(70)	3,593
Dividends to stockholders	(22,089)	(22,080)
Payments to noncontrolling interest	(397)	(22)
Net cash provided by financing activities	156,846	52,114
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(46,801)	6,895
Beginning of the period	375,837	289,338
End of the period	$ 329,036	$ 296,233

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 – Nature of Operations American National Insurance Company and its consolidated subsidiaries (collectively “American National” or “the Company”) offer a broad spectrum of insurance products, including individual and group life insurance, annuities, health insurance, and property and casualty insurance. Business is conducted in all 50 states, the District of Columbia and Puerto Rico.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Practices	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Practices	Note 2 – 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, 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 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.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Note 3 – Recently Issued Accounting Pronouncements Future Adoption of New Accounting Standards In February 2016, the FASB issued guidance that will require significant changes to the statement of financial position of lessees. With certain limited exceptions, lessees will need to recognize virtually all of their leases on the statement of financial position, by recording a right-of-use In June 2016, the FASB issued guidance that will significantly change how entities measure credit losses for most financial assets 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 In February 2018, the FASB issued guidance that 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 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company plans to adopt the standard effective January 1, 2019. The guidance changes equity presentation only and will not have an impact on the Company’s consolidated financial position, results of operations, equity or cash flows. Adoption of New Accounting Standards In May 2014, the FASB issued guidance 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 premium, other policy revenue, 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) the progress of completion is 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 three months ended March 31, 2018. Adoption of New Accounting Standards – (Continued) In January 2016, the FASB issued guidance that 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 and the changes in fair value are 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 and losses on equity securities of $667.7 million, partially offset by participating policyholders’ interest related to unrealized gains and losses on equity securities of $30.4 million, net of tax were reclassified from accumulated other comprehensive income to retained earnings. Net investment income decreased $32.6 million from the change in unrealized gains and losses on equity securities for the three months ended March 31, 2018. In October of 2016, the FASB issued guidance requiring an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Whereas, 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, an other liability was released and retained earnings increased by $59.9 million. 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 for the three months ended March 31, 2018. In March 2017, the FASB issued guidance on the presentation of net periodic pension and postretirement benefit costs. The guidance requires the service cost component to be reported in the same line item as other compensation costs. All other components of net periodic pension cost are required to be presented in the income statement separately from the service cost component and outside of income from operations. The Company adopted the standard on its required effective date of January 1, 2018 using a retrospective approach. Upon adoption, other components of net periodic pension costs of $1,232 net of tax for the three months ended March 31, 2017, were reclassified from other operating expenses. The guidance changed presentation only and did not have an impact on the Company’s consolidated financial position, results of operations, equity or cash flows. Since the Company’s defined benefit plans have been frozen, the components of net periodic benefit cost have not materially changed from year-end

Investment in Securities

Investment in Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investment in Securities	Note 4 – Investment in Securities The cost or amortized cost and fair value of investments in securities are shown below (in thousands): March 31, 2018 Cost or Gross Unrealized Gross Unrealized Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 269,946 $ 8,924 $ (204 ) $ 278,666 Foreign governments 3,999 523 — 4,522 Corporate debt securities 7,372,239 112,160 (78,867 ) 7,405,532 Residential mortgage-backed securities 267,929 7,679 (2,517 ) 273,091 Collateralized debt securities 597 22 — 619 Other debt securities 1,263 31 — 1,294 Total bonds held-to-maturity 7,915,973 129,339 (81,588 ) 7,963,724 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,483 403 (274 ) 28,612 U.S. states and political subdivisions 859,090 16,478 (3,856 ) 871,712 Foreign governments 5,000 1,287 — 6,287 Corporate debt securities 5,173,405 83,455 (53,795 ) 5,203,065 Residential mortgage-backed securities 31,708 390 (546 ) 31,552 Collateralized debt securities 3,085 702 (5 ) 3,782 Total bonds available-for-sale 6,100,771 102,715 (58,476 ) 6,145,010 Equity securities Common stock 758,422 1,002,501 (11,545 ) 1,749,378 Preferred stock 18,318 3,657 (600 ) 21,375 Total equity securities 776,740 1,006,158 (12,145 ) 1,770,753 Total investments in securities $ 14,793,484 $ 1,238,212 $ (152,209 ) $ 15,879,487 December 31, 2017 Cost or Gross Unrealized Gross Unrealized Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 266,966 $ 12,466 $ (37 ) $ 279,395 Foreign governments 4,011 582 — 4,593 Corporate debt securities 7,032,464 217,883 (18,020 ) 7,232,327 Residential mortgage-backed securities 246,803 9,702 (1,262 ) 255,243 Collateralized debt securities 923 31 — 954 Other debt securities 1,792 49 — 1,841 Total bonds held-to-maturity 7,552,959 240,713 (19,319 ) 7,774,353 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 27,569 475 (146 ) 27,898 U.S. states and political subdivisions 866,250 31,621 (824 ) 897,047 Foreign governments 5,000 1,460 — 6,460 Corporate debt securities 5,038,908 170,112 (16,093 ) 5,192,927 Residential mortgage-backed securities 15,009 37 (329 ) 14,717 Collateralized debt securities 3,171 651 (4 ) 3,818 Other debt securities 1,994 447 — 2,441 Total bonds available-for-sale 5,957,901 204,803 (17,396 ) 6,145,308 Equity securities Common stock 738,453 1,029,340 (7,166 ) 1,760,627 Preferred stock 19,130 4,469 — 23,599 Total equity securities 757,583 1,033,809 (7,166 ) 1,784,226 Total investments in securities $ 14,268,443 $ 1,479,325 $ (43,881 ) $ 15,703,887 The amortized cost and fair value, by contractual maturity, of fixed maturity securities are shown below (in thousands): March 31, 2018 Bonds Held-to-Maturity Bonds Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 226,948 $ 229,707 $ 137,593 $ 139,037 Due after one year through five years 4,349,837 4,415,709 2,228,746 2,265,488 Due after five years through ten years 2,758,080 2,740,046 3,172,783 3,178,309 Due after ten years 581,108 578,262 561,649 562,176 Total $ 7,915,973 $ 7,963,724 $ 6,100,771 $ 6,145,010 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 Three months ended March 31, 2018 2017 Proceeds from sales of available-for-sale $ 47,181 $ 27,723 Gross realized gains 1,424 10,826 Gross realized losses (555 ) (6 ) Gains and losses are determined using specific identification of the securities sold. During the three months ended March 31, 2018 and 2017, bonds with a carrying value of $34,850,000 and $15,000,000, respectively, were transferred from held-to-maturity available-for-sale The components of the change in net unrealized gains (losses) on debt securities are shown below (in thousands): Three months ended March 31, 2018 2017 Bonds available-for-sale $ (143,168 ) $ 36,075 Adjustments for Deferred policy acquisition costs 20,054 (5,444 ) Participating policyholders’ interest 6,953 (4,971 ) Deferred federal income tax benefit (expense) 24,828 (8,290 ) Change in net unrealized gains (losses) on debt securities, net of tax $ (91,333 ) $ 17,370 The components of the change in unrealized gains (losses) on equity securities are shown below (in thousands): Three months ended March 31, 2018 2017 Net gains (losses) on equity securities $ (31,575 ) $ 70,656 Less: Net gains on equity securities sold (1,055 ) (11,360 ) Unrealized gains (losses) on equity securities $ (32,630 ) $ 59,296 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): March 31, 2018 Less than 12 months 12 Months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (204 ) $ 40,410 $ — $ — $ (204 ) $ 40,410 Corporate debt securities (68,999 ) 2,869,097 (9,868 ) 156,182 (78,867 ) 3,025,279 Residential mortgage-backed securities (1,430 ) 104,506 (1,087 ) 17,564 (2,517 ) 122,070 Total bonds held-to-maturity (70,633 ) 3,014,013 (10,955 ) 173,746 (81,588 ) 3,187,759 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (271 ) 15,456 (3 ) 4,221 (274 ) 19,677 U.S. states and political subdivisions (2,455 ) 183,318 (1,401 ) 27,197 (3,856 ) 210,515 Corporate debt securities (41,341 ) 1,895,863 (12,454 ) 146,268 (53,795 ) 2,042,131 Residential mortgage-backed securities (405 ) 27,023 (141 ) 1,359 (546 ) 28,382 Collateralized debt securities (1 ) 159 (4 ) 123 (5 ) 282 Total bonds available-for-sale (44,473 ) 2,121,819 (14,003 ) 179,168 (58,476 ) 2,300,987 Equity securities Common stock (11,545 ) 76,088 — — (11,545 ) 76,088 Preferred stock (600 ) 5,000 — — (600 ) 5,000 Total equity securities (12,145 ) 81,088 — — (12,145 ) 81,088 Total $ (127,251 ) $ 5,216,920 $ (24,958 ) $ 352,914 $ (152,209 ) $ 5,569,834 December 31, 2017 Less than 12 months 12 Months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (37 ) $ 1,937 $ — $ — $ (37 ) $ 1,937 Corporate debt securities (8,444 ) 951,425 (9,576 ) 192,737 (18,020 ) 1,144,162 Residential mortgage-backed securities (325 ) 49,283 (937 ) 18,888 (1,262 ) 68,171 Total bonds held-to-maturity (8,806 ) 1,002,645 (10,513 ) 211,625 (19,319 ) 1,214,270 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (141 ) 20,352 (5 ) 3,875 (146 ) 24,227 U.S. states and political subdivisions (160 ) 27,669 (664 ) 28,010 (824 ) 55,679 Corporate debt securities (6,657 ) 559,710 (9,436 ) 159,532 (16,093 ) 719,242 Residential mortgage-backed securities (193 ) 12,419 (136 ) 1,428 (329 ) 13,847 Collateralized debt securities — — (4 ) 123 (4 ) 123 Total bonds available-for-sale (7,151 ) 620,150 (10,245 ) 192,968 (17,396 ) 813,118 Equity securities Common stock (7,166 ) 60,391 — — (7,166 ) 60,391 Total equity securities (7,166 ) 60,391 — — (7,166 ) 60,391 Total $ (23,123 ) $ 1,683,186 $ (20,758 ) $ 404,593 $ (43,881 ) $ 2,087,779 As of March 31, 2018, 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 more-likely-than-not The following table identifies the total bonds distributed by credit quality rating (in thousands, except percentages): March 31, 2018 December 31, 2017 Amortized Estimated % of Fair Amortized Estimated % of Fair Cost Fair Value Value Cost Fair Value Value AAA $ 631,251 $ 646,046 4.6 % $ 638,039 $ 664,396 4.8 % AA 1,239,163 1,256,909 8.9 1,220,544 1,264,282 9.0 A 5,041,380 5,061,204 35.9 4,856,802 4,997,574 35.9 BBB 6,575,551 6,631,221 47.0 6,273,220 6,480,719 46.6 BB and below 529,399 513,354 3.6 522,255 512,690 3.7 Total $ 14,016,744 $ 14,108,734 100.0 % $ 13,510,860 $ 13,919,661 100.0 % Equity securities by market sector distribution are shown below: March 31, 2018 December 31, 2017 Consumer goods 20.1 % 20.2 % Energy and utilities 8.1 8.6 Finance 21.3 21.9 Healthcare 11.5 11.8 Industrials 9.6 9.5 Information technology 20.8 20.0 Other 8.6 8.0 Total 100.0 % 100.0 %

Mortgage Loans

Mortgage Loans	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Mortgage Loans	Note 5 – Mortgage Loans Generally, 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: March 31, 2018 December 31, 2017 East North Central 15.2 % 15.4 % East South Central 3.0 3.1 Mountain 15.2 14.0 Pacific 16.7 16.5 South Atlantic 13.5 14.1 West South Central 29.0 29.8 Other 7.4 7.1 Total 100.0 % 100.0 % For the three months ended March 31, 2018, American National foreclosed on two loans with recorded investments of $1,940,000 and $8,376,000. Three loans with a total recorded investment of $12,635,000 were in the process of foreclosure. For the year ended December 31, 2017, American National foreclosed on one loan with a recorded investment of $2,285,000, and four loans with a total recorded investment of $17,263,000 were in the process of foreclosure. American National did not sell any loans during the three months ended March 31, 2018 or during the year ended December 31, 2017. The age analysis of past due loans is shown below (in thousands): 30-59 Days 60-89 Days More Than Total March 31, 2018 Past Due Past Due 90 Days Total Current Amount Percent Industrial $ 28,822 $ — $ — $ 28,822 $ 778,680 $ 807,502 16.4 Office 7,509 5,708 6,432 19,649 1,806,365 1,826,014 37.0 Retail — — — — 759,257 759,257 15.4 Other — 15,102 — 15,102 1,530,221 1,545,323 31.2 Total $ 36,331 $ 20,810 $ 6,432 $ 63,573 $ 4,874,523 $ 4,938,096 100.0 Allowance for loan losses (18,055 ) Total, net of allowance $ 4,920,041 December 31, 2017 Industrial $ 4,985 $ — $ — $ 4,985 $ 781,385 $ 786,370 16.5 Office — 10,713 8,881 19,594 1,764,151 1,783,745 37.4 Retail — — — — 750,979 750,979 15.7 Other — — — — 1,447,771 1,447,771 30.4 Total $ 4,985 $ 10,713 $ 8,881 $ 24,579 $ 4,744,286 $ 4,768,865 100.0 Allowance for loan losses (18,866 ) Total, net of allowance $ 4,749,999 Total mortgage loans are calculated net of unamortized purchase discounts. There were no unamortized purchase discounts for the three months ended March 31, 2018 or during the year ended December 31, 2017. Total mortgage loans were also net of unamortized origination fees of $31,923,000 and $32,766,000 at March 31, 2018 and December 31, 2017, 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 our 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 Recorded Valuation Number of Recorded Valuation Number of Recorded Valuation Beginning balance, 2018 451 $ 4,762,315 16,041 3 $ 6,550 2,825 454 $ 4,768,865 $ 18,866 Change in allowance — — (302 ) — — — — — (302 ) Net change in recorded investment 6 171,171 — (1 ) (1,940 ) (509 ) 5 169,231 (509 ) Ending balance at March 31, 2018 457 $ 4,933,486 $ 15,739 2 $ 4,610 $ 2,316 459 $ 4,938,096 $ 18,055 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 Troubled debt restructuring mortgage loan information is as follows (in thousands, except number of loans): Three months ended March 31, 2018 2017 Number of Recorded investment pre- modification Recorded Number of Recorded investment pre- modification Recorded Other (hotel/motel) — $ — $ — 5 $ 24,801 $ 24,801 Total — $ — $ — 5 $ 24,801 $ 24,801 There are no loans determined to be troubled debt restructurings for the three months from year end to March 31, 2018.

Real Estate and Other Investmen

Real Estate and Other Investments	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Real Estate and Other Investments	Note 6 – Real Estate and Other Investments Investment real estate by property-type and geographic distribution are as follows: March 31, 2018 December 31, 2017 Industrial 5.6 % 6.0 % Office 40.2 39.0 Retail 39.2 39.3 Other 15.0 15.7 Total 100.0 % 100.0 % March 31, 2018 December 31, 2017 East North Central 6.0 % 6.1 % East South Central 4.0 3.6 Mountain 13.0 13.2 Pacific 8.3 8.5 South Atlantic 15.3 14.0 West South Central 51.0 52.4 Other 2.4 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, its 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 2018 or 2017. The assets and liabilities relating to the VIEs included in the consolidated financial statements are as follows (in thousands): March 31, 2018 December 31, 2017 Investment real estate $ 146,533 $ 148,456 Short-term investments 500 501 Cash and cash equivalents 9,722 6,320 Other receivables 5,071 4,461 Other assets 13,628 15,920 Total assets of consolidated VIEs $ 175,454 $ 175,658 Notes payable $ 137,389 $ 137,458 Other liabilities 8,887 5,616 Total liabilities of consolidated VIEs $ 146,276 $ 143,074 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 $27,952,000 and $28,377,000 at March 31, 2018 and December 31,2017, respectively. The total long-term notes payable of the consolidated VIE’s consists of the following (in thousands): Interest rate Maturity March 31, 2018 December 31, 2017 LIBOR 2020 $ 10,129 $ 9,702 90 day LIBOR + 2.5% 2021 40,342 40,124 4% fixed 2022 86,918 87,632 Total $ 137,389 $ 137,458 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): March 31, 2018 December 31, 2017 Carrying Maximum Carrying Maximum Investment in unconsolidated affiliates $ 322,797 $ 322,797 $ 314,808 $ 314,808 Mortgage loans 557,195 557,195 493,014 493,014 Accrued investment income 2,128 2,128 1,817 1,817 As of March 31, 2018, no real estate investments were classified as held for sale.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 7 – Derivative Instruments American National purchases over-the-counter March 31, 2018 December 31, 2017 Derivatives Not Designated as Hedging Instruments Location in the Consolidated Number of Notional Estimated Number of Notional Estimated Equity-indexed options Other invested assets 488 $ 2,086,850 $ 204,308 468 $ 1,885,600 $ 220,190 Equity-indexed embedded derivative Policyholders’ 80,420 1,976,400 535,641 76,621 1,819,523 512,526 Derivatives Not Designated as Hedging Instruments Location in the Consolidated Statements of Operations Gains (Losses) Recognized in Income on Derivatives Three months ended March 31, 2018 2017 Equity-indexed options Net investment income $ (14,145 ) $ 23,133 Equity-indexed embedded derivative Interest credited to policyholders’ account balances 13,436 (25,127 ) The Company’s use of derivative instruments exposes it to credit risk in the event of non-performance non-performance Information regarding the Company’s exposure to credit loss on the options it holds is presented below (in thousands): March 31, 2018 Counterparty Moody/S&P Rating Options Collateral Collateral Excess Exposure Net Barclays Baa2/BBB $ 49,066 $ 49,443 $ 49,066 $ 377 $ — Goldman-Sachs A3/BBB+ 927 1,030 927 103 — ING Baa1/A- 25,617 25,890 25,617 273 — JP Morgan A3/A- 190 — — — 190 Morgan Stanley A3/BBB+ 14,535 14,396 14,396 — 139 NATIXIS* A2/A 38,140 36,980 36,980 — 1,160 SunTrust Baa1/BBB+ 36,763 34,040 34,040 — 2,723 Wells Fargo A2/A- 39,070 37,310 37,310 — 1,760 Total $ 204,308 $ 199,089 $ 198,336 $ 753 $ 5,972 December 31, 2017 Counterparty Moody/S&P Rating Options Collateral Collateral Excess Exposure Net Barclays Baa2/BBB $ 55,215 $ 56,883 $ 55,215 $ 1,668 $ — Goldman-Sachs A3/BBB+ 956 780 780 — 176 ING Baa1/A- 26,650 27,330 26,650 680 — JP Morgan A3/A- 189 — — — 189 Morgan Stanley A3/BBB+ 17,490 18,776 17,490 1,286 — NATIXIS* A2/A 37,550 33,860 33,860 — 3,690 SunTrust Baa1/BBB+ 37,266 36,560 36,560 — 706 Wells Fargo A2/A 44,874 47,230 44,874 2,356 — Total $ 220,190 $ 221,419 $ 215,429 $ 5,990 $ 4,761 * Includes collateral restrictions

Net Investment Income and Reali

Net Investment Income and Realized Investment Gains (Losses)	3 Months Ended
	Mar. 31, 2018
Text Block [Abstract]
Net Investment Income and Realized Investment Gains (Losses)	Note 8 – Net Investment Income and Realized Investment Gains (Losses) Net investment income is shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ 140,095 $ 134,350 Dividends on equity securities 9,440 8,732 Net unrealized losses on equity securities (32,630 ) — Mortgage loans 63,868 57,704 Real estate 4,283 (1,195 ) Options (14,145 ) 23,133 Other invested assets 5,128 5,779 Total $ 176,039 $ 228,503 Realized investment gains (losses) are shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ 667 $ 3,504 Equity securities 1,055 11,360 Mortgage loans 302 (1,626 ) Real estate 83 788 Other invested assets (8 ) (18 ) Total $ 2,099 $ 14,008 Other-than-temporary impairment losses are shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ — $ (6,000 ) Equity securities (1,595 ) (783 ) Total $ (1,595 ) $ (6,783 )

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 9 – Fair Value of Financial Instruments The carrying amount and fair value of financial instruments are shown below (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Value Carrying Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity $ 7,915,973 $ 7,963,724 $ 7,552,959 $ 7,774,353 Fixed maturity securities, bonds available-for-sale 6,145,010 6,145,010 6,145,308 6,145,308 Equity securities 1,770,753 1,770,753 1,784,226 1,784,226 Equity-indexed options 204,308 204,308 220,190 220,190 Mortgage loans on real estate, net of allowance 4,920,041 4,961,466 4,749,999 4,811,006 Policy loans 374,930 374,930 377,103 377,103 Short-term investments 284,456 284,456 658,765 658,765 Separate account assets 939,605 939,605 969,764 969,764 Total financial assets $ 22,555,076 $ 22,644,252 $ 22,458,314 $ 22,740,715 Financial liabilities Investment contracts $ 9,844,880 $ 9,844,880 $ 8,990,771 $ 8,990,771 Embedded derivative liability for equity-indexed contracts 535,641 535,641 512,526 512,526 Notes payable 137,389 137,389 137,458 137,458 Separate account liabilities 939,605 939,605 969,764 969,764 Total financial liabilities $ 11,457,515 $ 11,457,515 $ 10,610,519 $ 10,610,519 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. Fixed Maturity Securities and Equity Options 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 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 Mortgage Loans Embedded Derivative • 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 March 31, 2018 and December 31, 2017, the one year implied volatility used to estimate embedded derivative value was 18.0% and 13.7%, 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 March 31, 2018 December 31, 2017 Unobservable Input Range Indexed Annuities $ 524.7 $ 498.3 Lapse Rate 1-66% Mortality Multiplier 90-100% Equity Volatility 7-30% Indexed Life 10.9 14.2 Equity Volatility 7-30% Other Financial Instruments 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. 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. Quantitative Disclosures The fair value hierarchy measurements of the financial instruments are shown below (in thousands): Fair Value Measurement as of March 31, 2018 Total Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 278,666 $ — $ 278,666 $ — Foreign governments 4,522 — 4,522 — Corporate debt securities 7,405,532 — 7,405,532 — Residential mortgage-backed securities 273,091 — 273,091 — Collateralized debt securities 619 — 619 — Other debt securities 1,294 — 1,294 — Total bonds held-to-maturity 7,963,724 — 7,963,724 — Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,612 — 28,612 — U.S. states and political subdivisions 871,712 — 871,712 — Foreign governments 6,287 — 6,287 — Corporate debt securities 5,203,065 — 5,203,065 — Residential mortgage-backed securities 31,552 — 31,552 — Collateralized debt securities 3,782 — 3,782 — Total bonds available-for-sale 6,145,010 — 6,145,010 — Equity securities Common stock 1,749,378 1,749,260 — 118 Preferred stock 21,375 21,375 — — Total equity securities 1,770,753 1,770,635 — 118 Options 204,308 — — 204,308 Mortgage loans on real estate 4,961,466 — 4,961,466 — Policy loans 374,930 — — 374,930 Short-term investments 284,456 — 284,456 — Separate account assets 939,605 — 939,605 — Total financial assets $ 22,644,252 $ 1,770,635 $ 20,294,261 $ 579,356 Financial liabilities Investment contracts $ 9,844,880 $ — $ — $ 9,844,880 Embedded derivative liability for equity-indexed contracts 535,641 — — 535,641 Notes payable 137,389 — — 137,389 Separate account liabilities 939,605 — 939,605 — Total financial liabilities $ 11,457,515 $ — $ 939,605 $ 10,517,910 Fair Value Measurement as of December 31, 2017 Total Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 279,395 $ — $ 276,450 $ 2,945 Foreign governments 4,593 — 4,593 — Corporate debt securities 7,232,327 — 7,232,327 — Residential mortgage-backed securities 255,243 — 255,243 — Collateralized debt securities 954 — 954 — Other debt securities 1,841 — 1,841 — Total bonds held-to-maturity 7,774,353 — 7,771,408 2,945 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 27,898 — 27,898 — U.S. states and political subdivisions 897,047 — 897,047 — Foreign governments 6,460 — 6,460 — Corporate debt securities 5,192,927 — 5,192,927 — Residential mortgage-backed securities 14,717 — 14,717 — Collateralized debt securities 3,818 — 3,818 — Other debt securities 2,441 — 2,441 — Total bonds available-for-sale 6,145,308 — 6,145,308 — Equity securities Common stock 1,760,627 1,760,499 — 128 Preferred stock 23,599 23,599 — — Total equity securities 1,784,226 1,784,098 — 128 Options 220,190 — — 220,190 Mortgage loans on real estate 4,811,006 — 4,811,006 — Policy loans 377,103 — — 377,103 Short-term investments 658,765 — 658,765 — Separate account assets 969,764 — 969,764 — Total financial assets $ 22,740,715 $ 1,784,098 $ 20,356,251 $ 600,366 Financial liabilities Investment contracts $ 8,990,771 $ — $ — $ 8,990,771 Embedded derivative liability for equity-indexed contracts 512,526 — — 512,526 Notes payable 137,458 — — 137,458 Separate account liabilities 969,764 — 969,764 — Total financial liabilities $ 10,610,519 $ — $ 969,764 $ 9,640,755 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 March 31, Assets Liability Investment Equity-Indexed Embedded Beginning balance, 2018 $ — $ 220,190 $ 512,526 Total realized and unrealized investment gains (losses) included in other comprehensive income — — — Net fair value change included in realized gains (losses) — — — Net loss for derivatives included in net investment income — (14,145 ) — Net change included in interest credited — — (13,436 ) Purchases, sales and settlements or maturities Purchases — 16,928 — Sales — — — Settlements or maturities — (18,665 ) — Premiums less benefits — — 36,551 Gross transfers into Level 3 — — — Gross transfers out of Level 3 — — — Ending balance at March 31, 2018 $ — $ 204,308 $ 535,641 Beginning balance, 2017 $ 14,264 $ 156,479 $ 314,330 Total realized and unrealized investment losses included in other comprehensive income (4,467 ) — — Net fair value change included in realized gains (losses) — — — Net gain for derivatives included in net investment income — 23,058 — Net change included in interest credited — — 25,127 Purchases, sales and settlements or maturities Purchases — 7,552 — Sales (1,957 ) — — Settlements or maturities (3,010 ) (12,831 ) — Premiums less benefits — — 7,177 Carry value transfers in 15,000 — Gross transfers into Level 3 382 — — Gross transfers out of Level 3 (2,883 ) — — Ending balance at March 31, 2017 $ 17,329 $ 174,258 $ 346,634 Within the net gain (loss) for derivatives included in net investment income were unrealized losses of $24,627,000 and gains of $17,028,000, relating to assets still held at March 31, 2018, and 2017, respectively. There were no transfers between Level 1 and Level 2 fair value hierarchies during the periods presented. The transfers into Level 3 during the three months ended March 31, 2017 were the result of existing securities no longer being priced by the third-party pricing service at the end of the period. 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 March 31, 2018. The transfers out of Level 3 during the three months ended March 31, 2017 were securities being priced by the third-party service at the end of the period, using inputs that are observable or derived from market data, which resulted in classification of these assets as Level 2.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Deferred Policy Acquisition Costs	Note 10 – Deferred Policy Acquisition Costs Deferred policy acquisition costs are shown below (in thousands): Life Annuity Accident Property & Total Beginning balance, 2018 $ 791,276 $ 426,497 $ 36,806 $ 119,265 $ 1,373,844 Additions 32,624 29,517 2,812 76,640 141,593 Amortization (26,181 ) (20,644 ) (3,900 ) (73,902 ) (124,627 ) Effect of change in unrealized gains on available-for-sale 13,556 6,498 — — 20,054 Net change 19,999 15,371 (1,088 ) 2,738 37,020 Ending balance at March 31, 2018 $ 811,275 $ 441,868 $ 35,718 $ 122,003 $ 1,410,864 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	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Liability for Unpaid Claims and Claim Adjustment Expenses	Note 11 – Liability for Unpaid Claims and Claim Adjustment Expenses The liability for unpaid claims and claim adjustment expenses (“claims”) for accident and 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. Liability for unpaid claims are 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): Three months ended March 31, 2018 2017 Unpaid claims balance, beginning $ 1,199,233 $ 1,140,723 Less reinsurance recoverables 237,439 216,903 Net beginning balance 961,794 923,820 Incurred related to Current 266,225 282,862 Prior years (10,548 ) (29,054 ) Total incurred claims 255,677 253,808 Paid claims related to Current 101,617 107,669 Prior years 141,147 127,397 Total paid claims 242,764 235,066 Net balance 974,707 942,562 Plus reinsurance recoverables 221,734 195,836 Unpaid claims balance, ending $ 1,196,441 $ 1,138,398 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 $10,548,000 during the first three months of 2018 and decreased by approximately $29,054,000 during the first three months of 2017. This reflected lower-than-anticipated losses in the first three months of 2018 related to accident years prior to 2018 in multi-peril, other commercial, and business owner and commercial package policy 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 March 31, 2018 was $34,751,000.

Federal Income Taxes

Federal Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Federal Income Taxes	Note 12 – 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 March 31, 2018 2017 Amount Rate Amount Rate* Income tax expense before tax on equity in earnings of unconsolidated affiliates* $ 4,365 21.6 % $ 15,630 28.9 % Tax on equity in earnings of unconsolidated affiliates (114 ) (0.6 ) 3,325 6.1 Total expected income tax expense at the statutory rate 4,251 21.0 18,955 35.0 Tax-exempt (843 ) (4.2 ) (1,832 ) (3.4 ) Deferred tax change (309 ) (1.5 ) (767 ) (1.4 ) Dividend exclusion (985 ) (4.9 ) (1,842 ) (3.4 ) Miscellaneous tax credits, net (2,213 ) (10.9 ) (2,257 ) (4.2 ) Low income housing tax credit expense 1,252 6.2 1,253 2.3 Other items, net 36 0.2 181 0.3 Provision for federal income tax before interest expense 1,189 5.9 13,691 25.2 Interest expense — — 44 0.1 Total $ 1,189 5.9 % $ 13,735 25.3 % * Prior year revised to reflect adoption of the new accounting standard issued March 2017. For details, see Note 3, Recently Issued Accounting Pronouncements, of the Notes to the Unaudited Consolidated Financial Statements. American National made income tax payments of $7,000,000 during the three months ended March 31, 2018 and made no income tax payments for the same period in 2017. Management believes that a sufficient taxable income will be achieved over time to utilize the deferred tax assets in the consolidated federal tax return; therefore, no valuation allowance was recorded as of March 31, 2018 and 2017. There are no operating or capital loss carryforwards that will expire by December 31, 2018. American National’s federal income tax returns for years 2014 to 2016 are subject to examination by the Internal Revenue Service. The years 2005 to 2013 have been closed by the Internal Revenue Service and we have received $48.0 million in refunds related to 2013, 2014, 2015, and 2016. 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. No provision for penalties or interest were established during 2018 relating to a dispute with the Internal Revenue Service. Management does not believe there are any uncertain tax benefits that could be recognized within the next twelve months that would decrease American National’s effective tax rate.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 13 – 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 Defined Foreign Accumulated Beginning balance, 2018 $ 716,878 $ (72,772 ) $ (1,890 ) $ 642,216 Amounts reclassified from AOCI (net of tax expense $26 and expense $210) 100 789 — 889 Unrealized holding losses arising during the period (net of tax benefit $30,091) (113,203 ) — — (113,203 ) Unrealized adjustment to DAC (net of tax expense $3,777) 16,277 — — 16,277 Unrealized losses on investments attributable to participating policyholders’ interest (net of tax expense $1,460) 5,493 — — 5,493 Foreign currency adjustment (net of tax benefit $97) — — (366 ) (366 ) Cumulative effect of changes in accounting (net of tax benefit $356,847) (637,376 ) — — (637,376 ) Ending balance at March 31, 2018 $ (11,831 ) $ (71,983 ) $ (2,256 ) $ (86,070 ) Beginning balance, 2017 $ 547,138 $ (88,603 ) $ (2,636 ) $ 455,899 Amounts reclassified from AOCI (net of tax benefit $1,547 and expense $826) (2,873 ) 1,534 — (1,339 ) Unrealized holding gains arising during the period (net of tax expense $34,927) 64,864 — — 64,864 Unrealized adjustment to DAC (net of tax benefit $2,596) (2,848 ) — — (2,848 ) Unrealized gains on investments attributable to participating policyholders’ interest (net of tax benefit $1,740) (3,231 ) — — (3,231 ) Foreign currency adjustment (net of tax expense $60) — — 112 112 Ending balance at March 31, 2017 $ 603,050 $ (87,069 ) $ (2,524 ) $ 513,457

Stockholders' Equity and Noncon

Stockholders' Equity and Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity and Noncontrolling Interests	Note 14 – Stockholders’ Equity and Noncontrolling Interests American 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: March 31, 2018 December 31, 2017 Common stock Shares issued 30,832,449 30,832,449 Treasury shares (3,894,108 ) (3,900,565 ) Outstanding shares 26,938,341 26,931,884 Restricted shares (74,000 ) (74,000 ) Unrestricted outstanding shares 26,864,341 26,857,884 Stock-based compensation American National has a stock-based compensation plan, which allows for grants of Non-Qualified SAR, RS and RSU information for the periods indicated are shown below: SAR RS Shares RS Units Shares Weighted-Average Shares Weighted-Average Units Weighted-Average Outstanding at December 31, 2017 2,586 $ 106.70 74,000 $ 110.19 52,765 $ 106.26 Granted — — — — — — Exercised — — — — (33,699 ) 104.39 Forfeited — — — — — — Expired — — — — — — Outstanding at March 31, 2018 2,586 $ 106.70 74,000 $ 110.19 19,066 $ 109.56 SAR RS Shares RS Units Weighted-average contractual remaining life (in years) 0.30 4.23 0.77 Exercisable shares 2,586 N/A N/A Weighted-average exercise price $ 106.70 $ 110.19 $ 109.56 Weighted-average exercise price exercisable shares 106.70 N/A N/A Compensation expense (credit) Three months ended March 31, 2018 $ (28,000 ) $ 201,000 $ (211,000 ) Three months ended March 31, 2017 (35,000 ) 207,000 130,000 Fair value of liability award March 31, 2018 $ 33,000 N/A $ 1,528,000 December 31, 2017 63,000 N/A 6,376,000 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 74,000 shares are unvested. RSU awards allow the recipient of the awards to settle the vested RSUs in either shares of American National’s common stock, cash or a combination of both. RSUs granted vest after a one-year 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 March 31, 2018 2017 Weighted average shares outstanding 26,889,151 26,899,648 Incremental shares from RS awards and RSUs 75,204 72,480 Total shares for diluted calculations 26,964,355 26,972,128 Net income attributable to American National (in thousands) $ 18,777 $ 39,840 Basic earnings per share $ 0.70 $ 1.48 Diluted earnings per share $ 0.70 $ 1.48 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 March 31, 2018 and December 31, 2017, American National Insurance Company’s statutory capital and surplus was $3,244,268,000 and $3,293,474,000, respectively. American National Insurance Company and each of its insurance subsidiaries had statutory capital and surplus at March 31, 2018 and December 31, 2017, 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 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): March 31, 2018 December 31, 2017 Statutory capital and surplus Life insurance entities $ 2,075,945 $ 2,141,573 Property and casualty insurance entities 1,172,698 1,162,761 Three months ended March 31, 2018 2017 Statutory net income Life insurance entities $ 3,263 $ 2,467 Property and casualty insurance entities 13,058 6,811 Dividends 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 $329,347,000 during 2018. 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 March 31, 2018 and December 31, 2017. 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 $1,346,000 and $2,262,000 at March 31, 2018 and December 31, 2017, respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Note 15 – Segment Information Management organizes the business into five operating segments: • Life—markets whole, term, universal, indexed and variable life insurance on a national basis primarily through career, multiple-line, and independent agents as well as direct marketing channels. • Annuity—offers fixed, indexed, and variable annuity products. These products are primarily sold through independent agents, brokers, and financial institutions, along with multiple-line and career agents. • Health—primary lines of business are Medicare supplement, stop loss, other supplemental health products and credit disability insurance. Health products are typically distributed through independent agents and managing general underwriters. • Property and Casualty—writes personal, agricultural and targeted commercial coverages and credit-related property insurance. These products are primarily sold through multiple-line and independent agents. • Corporate and Other—consists of net investment income from investments not allocated to the insurance segments and revenues from non-insurance The accounting policies of the segments are the same as those described in Note 2 to American National’s 2017 annual report on Form 10-K. • 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 business segment. • Expenses are allocated based upon various factors, including premium and commission ratios of the 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 March 31, 2018 Life Annuity Accident Property Corporate Total Premiums and other revenues Premiums $ 81,376 $ 70,616 $ 41,015 $ 351,973 $ — $ 544,980 Other policy revenues 67,731 3,608 — — — 71,339 Net investment income 57,768 113,480 2,354 15,861 (13,424 ) 176,039 Net realized investment gains — — — — 504 504 Other income 755 725 5,157 2,063 1,813 10,513 Total premiums and other revenues 207,630 188,429 48,526 369,897 (11,107 ) 803,375 Benefits, losses and expenses Policyholder benefits 98,546 84,746 — — — 183,292 Claims incurred — — 28,140 242,490 — 270,630 Interest credited to policyholders’ account balances 16,265 54,280 — — — 70,545 Commissions for acquiring and servicing policies 39,520 30,004 6,016 69,156 — 144,696 Other operating expenses 50,950 11,319 10,358 47,801 9,966 130,394 Change in deferred policy acquisition costs (6,443 ) (8,873 ) 1,088 (2,738 ) — (16,966 ) Total benefits, losses and expenses 198,838 171,476 45,602 356,709 9,966 782,591 Income before federal income tax and other items $ 8,792 $ 16,953 $ 2,924 $ 13,188 $ (21,073 ) $ 20,784 Three months ended March 31, 2017 Life Annuity Accident Property Corporate Total Premiums and other revenues Premiums $ 77,474 $ 29,809 $ 37,039 $ 327,450 $ — $ 471,772 Other policy revenues 59,909 3,543 — — — 63,452 Net investment income 62,209 139,677 2,507 14,040 10,070 228,503 Net realized investment gains — — — — 7,225 7,225 Other income 616 665 4,346 1,938 1,280 8,845 Total premiums and other revenues 200,208 173,694 43,892 343,428 18,575 779,797 Benefits, losses and expenses Policyholder benefits 101,166 43,989 — — — 145,155 Claims incurred — — 24,380 227,530 — 251,910 Interest credited to policyholders’ account balances 15,405 80,603 — — — 96,008 Commissions for acquiring and servicing policies 34,810 17,284 5,890 67,508 — 125,492 Other operating expenses 49,183 10,688 10,230 46,282 9,678 126,061 Change in deferred policy acquisition costs (7,857 ) (2,631 ) 1,332 (331 ) — (9,487 ) Total benefits, losses and expenses 192,707 149,933 41,832 340,989 9,678 735,139 Income before federal income tax and other items $ 7,501 $ 23,761 $ 2,060 $ 2,439 $ 8,897 $ 44,658

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16 – Commitments and Contingencies Commitments American National had aggregate commitments at March 31, 2018, to purchase, expand or improve real estate, to fund fixed interest rate mortgage loans, and to purchase other invested assets of $916,728,000 of which $664,335,000 is expected to be funded in 2018 with the remainder funded in 2019 and beyond. American National has a $100,000,000 short-term variable rate borrowing facility containing a $55,000,000 sub-feature 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 March 31, 2018, was approximately $206,376,000, while the total cash value of the related life insurance policies was approximately $211,003,000. 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	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 17 – 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, accident and 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 Amount due to (from) American National Three months ended March 31, March 31, December 31, Related Party Financial Statement Line Impacted 2018 2017 2018 2017 Gal-Tex Mortgage loan on real estate $ 400 $ 373 $ 1,823 $ 2,223 Gal-Tex Net investment income 38 66 11 13 Greer, Herz & Adams, LLP Other operating expenses 2,607 2,527 (483 ) (386 ) Mortgage Loans to Gal-Tex (“Gal-Tex”) Gal-Tex, Gal-Tex Gal-Tex Transactions with Greer, Herz & Adams, LLP

Summary of Significant Accoun25

Summary of Significant Accounting Policies and Practices (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting	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.
Consolidation Policy	American National consolidates entities that are wholly-owned and those in which American National owns less than 100% but controls, 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.
Reclassification Policy	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)	3 Months Ended
	Mar. 31, 2018
Investments in Securities	The cost or amortized cost and fair value of investments in securities are shown below (in thousands): March 31, 2018 Cost or Gross Unrealized Gross Unrealized Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 269,946 $ 8,924 $ (204 ) $ 278,666 Foreign governments 3,999 523 — 4,522 Corporate debt securities 7,372,239 112,160 (78,867 ) 7,405,532 Residential mortgage-backed securities 267,929 7,679 (2,517 ) 273,091 Collateralized debt securities 597 22 — 619 Other debt securities 1,263 31 — 1,294 Total bonds held-to-maturity 7,915,973 129,339 (81,588 ) 7,963,724 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,483 403 (274 ) 28,612 U.S. states and political subdivisions 859,090 16,478 (3,856 ) 871,712 Foreign governments 5,000 1,287 — 6,287 Corporate debt securities 5,173,405 83,455 (53,795 ) 5,203,065 Residential mortgage-backed securities 31,708 390 (546 ) 31,552 Collateralized debt securities 3,085 702 (5 ) 3,782 Total bonds available-for-sale 6,100,771 102,715 (58,476 ) 6,145,010 Equity securities Common stock 758,422 1,002,501 (11,545 ) 1,749,378 Preferred stock 18,318 3,657 (600 ) 21,375 Total equity securities 776,740 1,006,158 (12,145 ) 1,770,753 Total investments in securities $ 14,793,484 $ 1,238,212 $ (152,209 ) $ 15,879,487 December 31, 2017 Cost or Gross Unrealized Gross Unrealized Fair Value Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 266,966 $ 12,466 $ (37 ) $ 279,395 Foreign governments 4,011 582 — 4,593 Corporate debt securities 7,032,464 217,883 (18,020 ) 7,232,327 Residential mortgage-backed securities 246,803 9,702 (1,262 ) 255,243 Collateralized debt securities 923 31 — 954 Other debt securities 1,792 49 — 1,841 Total bonds held-to-maturity 7,552,959 240,713 (19,319 ) 7,774,353 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 27,569 475 (146 ) 27,898 U.S. states and political subdivisions 866,250 31,621 (824 ) 897,047 Foreign governments 5,000 1,460 — 6,460 Corporate debt securities 5,038,908 170,112 (16,093 ) 5,192,927 Residential mortgage-backed securities 15,009 37 (329 ) 14,717 Collateralized debt securities 3,171 651 (4 ) 3,818 Other debt securities 1,994 447 — 2,441 Total bonds available-for-sale 5,957,901 204,803 (17,396 ) 6,145,308 Equity securities Common stock 738,453 1,029,340 (7,166 ) 1,760,627 Preferred stock 19,130 4,469 — 23,599 Total equity securities 757,583 1,033,809 (7,166 ) 1,784,226 Total investments in securities $ 14,268,443 $ 1,479,325 $ (43,881 ) $ 15,703,887
Maturities of Investments	The amortized cost and fair value, by contractual maturity, of fixed maturity securities are shown below (in thousands): March 31, 2018 Bonds Held-to-Maturity Bonds Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 226,948 $ 229,707 $ 137,593 $ 139,037 Due after one year through five years 4,349,837 4,415,709 2,228,746 2,265,488 Due after five years through ten years 2,758,080 2,740,046 3,172,783 3,178,309 Due after ten years 581,108 578,262 561,649 562,176 Total $ 7,915,973 $ 7,963,724 $ 6,100,771 $ 6,145,010
Proceeds from Available for Sale Securities and Realized Gain Loss	Proceeds from sales of available-for-sale Three months ended March 31, 2018 2017 Proceeds from sales of available-for-sale $ 47,181 $ 27,723 Gross realized gains 1,424 10,826 Gross realized losses (555 ) (6 )
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): March 31, 2018 Less than 12 months 12 Months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (204 ) $ 40,410 $ — $ — $ (204 ) $ 40,410 Corporate debt securities (68,999 ) 2,869,097 (9,868 ) 156,182 (78,867 ) 3,025,279 Residential mortgage-backed securities (1,430 ) 104,506 (1,087 ) 17,564 (2,517 ) 122,070 Total bonds held-to-maturity (70,633 ) 3,014,013 (10,955 ) 173,746 (81,588 ) 3,187,759 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (271 ) 15,456 (3 ) 4,221 (274 ) 19,677 U.S. states and political subdivisions (2,455 ) 183,318 (1,401 ) 27,197 (3,856 ) 210,515 Corporate debt securities (41,341 ) 1,895,863 (12,454 ) 146,268 (53,795 ) 2,042,131 Residential mortgage-backed securities (405 ) 27,023 (141 ) 1,359 (546 ) 28,382 Collateralized debt securities (1 ) 159 (4 ) 123 (5 ) 282 Total bonds available-for-sale (44,473 ) 2,121,819 (14,003 ) 179,168 (58,476 ) 2,300,987 Equity securities Common stock (11,545 ) 76,088 — — (11,545 ) 76,088 Preferred stock (600 ) 5,000 — — (600 ) 5,000 Total equity securities (12,145 ) 81,088 — — (12,145 ) 81,088 Total $ (127,251 ) $ 5,216,920 $ (24,958 ) $ 352,914 $ (152,209 ) $ 5,569,834 December 31, 2017 Less than 12 months 12 Months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ (37 ) $ 1,937 $ — $ — $ (37 ) $ 1,937 Corporate debt securities (8,444 ) 951,425 (9,576 ) 192,737 (18,020 ) 1,144,162 Residential mortgage-backed securities (325 ) 49,283 (937 ) 18,888 (1,262 ) 68,171 Total bonds held-to-maturity (8,806 ) 1,002,645 (10,513 ) 211,625 (19,319 ) 1,214,270 Fixed maturity securities, bonds available-for-sale U.S. treasury and government (141 ) 20,352 (5 ) 3,875 (146 ) 24,227 U.S. states and political subdivisions (160 ) 27,669 (664 ) 28,010 (824 ) 55,679 Corporate debt securities (6,657 ) 559,710 (9,436 ) 159,532 (16,093 ) 719,242 Residential mortgage-backed securities (193 ) 12,419 (136 ) 1,428 (329 ) 13,847 Collateralized debt securities — — (4 ) 123 (4 ) 123 Total bonds available-for-sale (7,151 ) 620,150 (10,245 ) 192,968 (17,396 ) 813,118 Equity securities Common stock (7,166 ) 60,391 — — (7,166 ) 60,391 Total equity securities (7,166 ) 60,391 — — (7,166 ) 60,391 Total $ (23,123 ) $ 1,683,186 $ (20,758 ) $ 404,593 $ (43,881 ) $ 2,087,779
Bond by Credit Quality Rating Distribution	The following table identifies the total bonds distributed by credit quality rating (in thousands, except percentages): March 31, 2018 December 31, 2017 Amortized Estimated % of Fair Amortized Estimated % of Fair Cost Fair Value Value Cost Fair Value Value AAA $ 631,251 $ 646,046 4.6 % $ 638,039 $ 664,396 4.8 % AA 1,239,163 1,256,909 8.9 1,220,544 1,264,282 9.0 A 5,041,380 5,061,204 35.9 4,856,802 4,997,574 35.9 BBB 6,575,551 6,631,221 47.0 6,273,220 6,480,719 46.6 BB and below 529,399 513,354 3.6 522,255 512,690 3.7 Total $ 14,016,744 $ 14,108,734 100.0 % $ 13,510,860 $ 13,919,661 100.0 %
Equity Securities by Market Sector Distribution	Equity securities by market sector distribution are shown below: March 31, 2018 December 31, 2017 Consumer goods 20.1 % 20.2 % Energy and utilities 8.1 8.6 Finance 21.3 21.9 Healthcare 11.5 11.8 Industrials 9.6 9.5 Information technology 20.8 20.0 Other 8.6 8.0 Total 100.0 % 100.0 %
Debt Securities [Member]
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): Three months ended March 31, 2018 2017 Bonds available-for-sale $ (143,168 ) $ 36,075 Adjustments for Deferred policy acquisition costs 20,054 (5,444 ) Participating policyholders’ interest 6,953 (4,971 ) Deferred federal income tax benefit (expense) 24,828 (8,290 ) Change in net unrealized gains (losses) on debt securities, net of tax $ (91,333 ) $ 17,370
Equity Securities [Member]
Change in Net Unrealized Gains (Losses) on Securities	The components of the change in unrealized gains (losses) on equity securities are shown below (in thousands): Three months ended March 31, 2018 2017 Net gains (losses) on equity securities $ (31,575 ) $ 70,656 Less: Net gains on equity securities sold (1,055 ) (11,360 ) Unrealized gains (losses) on equity securities $ (32,630 ) $ 59,296

Mortgage Loans (Tables)

Mortgage Loans (Tables)	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 East North Central 15.2 % 15.4 % East South Central 3.0 3.1 Mountain 15.2 14.0 Pacific 16.7 16.5 South Atlantic 13.5 14.1 West South Central 29.0 29.8 Other 7.4 7.1 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 March 31, 2018 Past Due Past Due 90 Days Total Current Amount Percent Industrial $ 28,822 $ — $ — $ 28,822 $ 778,680 $ 807,502 16.4 Office 7,509 5,708 6,432 19,649 1,806,365 1,826,014 37.0 Retail — — — — 759,257 759,257 15.4 Other — 15,102 — 15,102 1,530,221 1,545,323 31.2 Total $ 36,331 $ 20,810 $ 6,432 $ 63,573 $ 4,874,523 $ 4,938,096 100.0 Allowance for loan losses (18,055 ) Total, net of allowance $ 4,920,041 December 31, 2017 Industrial $ 4,985 $ — $ — $ 4,985 $ 781,385 $ 786,370 16.5 Office — 10,713 8,881 19,594 1,764,151 1,783,745 37.4 Retail — — — — 750,979 750,979 15.7 Other — — — — 1,447,771 1,447,771 30.4 Total $ 4,985 $ 10,713 $ 8,881 $ 24,579 $ 4,744,286 $ 4,768,865 100.0 Allowance for loan losses (18,866 ) Total, net of allowance $ 4,749,999
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 Recorded Valuation Number of Recorded Valuation Number of Recorded Valuation Beginning balance, 2018 451 $ 4,762,315 16,041 3 $ 6,550 2,825 454 $ 4,768,865 $ 18,866 Change in allowance — — (302 ) — — — — — (302 ) Net change in recorded investment 6 171,171 — (1 ) (1,940 ) (509 ) 5 169,231 (509 ) Ending balance at March 31, 2018 457 $ 4,933,486 $ 15,739 2 $ 4,610 $ 2,316 459 $ 4,938,096 $ 18,055
Schedule of Troubled Debt Restructuring Mortgage Loan Information	Troubled debt restructuring mortgage loan information is as follows (in thousands, except number of loans): Three months ended March 31, 2018 2017 Number of Recorded investment pre- modification Recorded Number of Recorded investment pre- modification Recorded Other (hotel/motel) — $ — $ — 5 $ 24,801 $ 24,801 Total — $ — $ — 5 $ 24,801 $ 24,801

Real Estate and Other Investm28

Real Estate and Other Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Investment Real Estate by Property-Type and Geographic Distribution	Investment real estate by property-type and geographic distribution are as follows: March 31, 2018 December 31, 2017 Industrial 5.6 % 6.0 % Office 40.2 39.0 Retail 39.2 39.3 Other 15.0 15.7 Total 100.0 % 100.0 % March 31, 2018 December 31, 2017 East North Central 6.0 % 6.1 % East South Central 4.0 3.6 Mountain 13.0 13.2 Pacific 8.3 8.5 South Atlantic 15.3 14.0 West South Central 51.0 52.4 Other 2.4 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): March 31, 2018 December 31, 2017 Investment real estate $ 146,533 $ 148,456 Short-term investments 500 501 Cash and cash equivalents 9,722 6,320 Other receivables 5,071 4,461 Other assets 13,628 15,920 Total assets of consolidated VIEs $ 175,454 $ 175,658 Notes payable $ 137,389 $ 137,458 Other liabilities 8,887 5,616 Total liabilities of consolidated VIEs $ 146,276 $ 143,074
Schedule of Long-term Notes Payable of Consolidated VIEs	The total long-term notes payable of the consolidated VIE’s consists of the following (in thousands): Interest rate Maturity March 31, 2018 December 31, 2017 LIBOR 2020 $ 10,129 $ 9,702 90 day LIBOR + 2.5% 2021 40,342 40,124 4% fixed 2022 86,918 87,632 Total $ 137,389 $ 137,458
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): March 31, 2018 December 31, 2017 Carrying Maximum Carrying Maximum Investment in unconsolidated affiliates $ 322,797 $ 322,797 $ 314,808 $ 314,808 Mortgage loans 557,195 557,195 493,014 493,014 Accrued investment income 2,128 2,128 1,817 1,817

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Reported in Financial Position	March 31, 2018 December 31, 2017 Derivatives Not Designated as Hedging Instruments Location in the Consolidated Number of Notional Estimated Number of Notional Estimated Equity-indexed options Other invested assets 488 $ 2,086,850 $ 204,308 468 $ 1,885,600 $ 220,190 Equity-indexed embedded derivative Policyholders’ 80,420 1,976,400 535,641 76,621 1,819,523 512,526
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 March 31, 2018 2017 Equity-indexed options Net investment income $ (14,145 ) $ 23,133 Equity-indexed embedded derivative Interest credited to policyholders’ account balances 13,436 (25,127 )
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): March 31, 2018 Counterparty Moody/S&P Rating Options Collateral Collateral Excess Exposure Net Barclays Baa2/BBB $ 49,066 $ 49,443 $ 49,066 $ 377 $ — Goldman-Sachs A3/BBB+ 927 1,030 927 103 — ING Baa1/A- 25,617 25,890 25,617 273 — JP Morgan A3/A- 190 — — — 190 Morgan Stanley A3/BBB+ 14,535 14,396 14,396 — 139 NATIXIS* A2/A 38,140 36,980 36,980 — 1,160 SunTrust Baa1/BBB+ 36,763 34,040 34,040 — 2,723 Wells Fargo A2/A- 39,070 37,310 37,310 — 1,760 Total $ 204,308 $ 199,089 $ 198,336 $ 753 $ 5,972 December 31, 2017 Counterparty Moody/S&P Rating Options Collateral Collateral Excess Exposure Net Barclays Baa2/BBB $ 55,215 $ 56,883 $ 55,215 $ 1,668 $ — Goldman-Sachs A3/BBB+ 956 780 780 — 176 ING Baa1/A- 26,650 27,330 26,650 680 — JP Morgan A3/A- 189 — — — 189 Morgan Stanley A3/BBB+ 17,490 18,776 17,490 1,286 — NATIXIS* A2/A 37,550 33,860 33,860 — 3,690 SunTrust Baa1/BBB+ 37,266 36,560 36,560 — 706 Wells Fargo A2/A 44,874 47,230 44,874 2,356 — Total $ 220,190 $ 221,419 $ 215,429 $ 5,990 $ 4,761 * Includes collateral restrictions

Net Investment Income and Rea30

Net Investment Income and Realized Investment Gains (Losses) (Tables)	3 Months Ended
	Mar. 31, 2018
Text Block [Abstract]
Summary of Net Investment Income	Net investment income is shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ 140,095 $ 134,350 Dividends on equity securities 9,440 8,732 Net unrealized losses on equity securities (32,630 ) — Mortgage loans 63,868 57,704 Real estate 4,283 (1,195 ) Options (14,145 ) 23,133 Other invested assets 5,128 5,779 Total $ 176,039 $ 228,503
Summary of Realized Investment Gains (Losses)	Realized investment gains (losses) are shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ 667 $ 3,504 Equity securities 1,055 11,360 Mortgage loans 302 (1,626 ) Real estate 83 788 Other invested assets (8 ) (18 ) Total $ 2,099 $ 14,008
Summary of Other Than Temporary Impairment Losses	Other-than-temporary impairment losses are shown below (in thousands): Three months ended March 31, 2018 2017 Bonds $ — $ (6,000 ) Equity securities (1,595 ) (783 ) Total $ (1,595 ) $ (6,783 )

Fair Value of Financial Instr31

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 December 31, 2017 Carrying Fair Value Carrying Fair Value Financial assets Fixed maturity securities, bonds held-to-maturity $ 7,915,973 $ 7,963,724 $ 7,552,959 $ 7,774,353 Fixed maturity securities, bonds available-for-sale 6,145,010 6,145,010 6,145,308 6,145,308 Equity securities 1,770,753 1,770,753 1,784,226 1,784,226 Equity-indexed options 204,308 204,308 220,190 220,190 Mortgage loans on real estate, net of allowance 4,920,041 4,961,466 4,749,999 4,811,006 Policy loans 374,930 374,930 377,103 377,103 Short-term investments 284,456 284,456 658,765 658,765 Separate account assets 939,605 939,605 969,764 969,764 Total financial assets $ 22,555,076 $ 22,644,252 $ 22,458,314 $ 22,740,715 Financial liabilities Investment contracts $ 9,844,880 $ 9,844,880 $ 8,990,771 $ 8,990,771 Embedded derivative liability for equity-indexed contracts 535,641 535,641 512,526 512,526 Notes payable 137,389 137,389 137,458 137,458 Separate account liabilities 939,605 939,605 969,764 969,764 Total financial liabilities $ 11,457,515 $ 11,457,515 $ 10,610,519 $ 10,610,519
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 March 31, 2018 December 31, 2017 Unobservable Input Range Indexed Annuities $ 524.7 $ 498.3 Lapse Rate 1-66% Mortality Multiplier 90-100% Equity Volatility 7-30% Indexed Life 10.9 14.2 Equity Volatility 7-30%
Quantitative Disclosures Regarding Fair Value Hierarchy Measurements	The fair value hierarchy measurements of the financial instruments are shown below (in thousands): Fair Value Measurement as of March 31, 2018 Total Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 278,666 $ — $ 278,666 $ — Foreign governments 4,522 — 4,522 — Corporate debt securities 7,405,532 — 7,405,532 — Residential mortgage-backed securities 273,091 — 273,091 — Collateralized debt securities 619 — 619 — Other debt securities 1,294 — 1,294 — Total bonds held-to-maturity 7,963,724 — 7,963,724 — Fixed maturity securities, bonds available-for-sale U.S. treasury and government 28,612 — 28,612 — U.S. states and political subdivisions 871,712 — 871,712 — Foreign governments 6,287 — 6,287 — Corporate debt securities 5,203,065 — 5,203,065 — Residential mortgage-backed securities 31,552 — 31,552 — Collateralized debt securities 3,782 — 3,782 — Total bonds available-for-sale 6,145,010 — 6,145,010 — Equity securities Common stock 1,749,378 1,749,260 — 118 Preferred stock 21,375 21,375 — — Total equity securities 1,770,753 1,770,635 — 118 Options 204,308 — — 204,308 Mortgage loans on real estate 4,961,466 — 4,961,466 — Policy loans 374,930 — — 374,930 Short-term investments 284,456 — 284,456 — Separate account assets 939,605 — 939,605 — Total financial assets $ 22,644,252 $ 1,770,635 $ 20,294,261 $ 579,356 Financial liabilities Investment contracts $ 9,844,880 $ — $ — $ 9,844,880 Embedded derivative liability for equity-indexed contracts 535,641 — — 535,641 Notes payable 137,389 — — 137,389 Separate account liabilities 939,605 — 939,605 — Total financial liabilities $ 11,457,515 $ — $ 939,605 $ 10,517,910 Fair Value Measurement as of December 31, 2017 Total Level 1 Level 2 Level 3 Financial assets Fixed maturity securities, bonds held-to-maturity U.S. states and political subdivisions $ 279,395 $ — $ 276,450 $ 2,945 Foreign governments 4,593 — 4,593 — Corporate debt securities 7,232,327 — 7,232,327 — Residential mortgage-backed securities 255,243 — 255,243 — Collateralized debt securities 954 — 954 — Other debt securities 1,841 — 1,841 — Total bonds held-to-maturity 7,774,353 — 7,771,408 2,945 Fixed maturity securities, bonds available-for-sale U.S. treasury and government 27,898 — 27,898 — U.S. states and political subdivisions 897,047 — 897,047 — Foreign governments 6,460 — 6,460 — Corporate debt securities 5,192,927 — 5,192,927 — Residential mortgage-backed securities 14,717 — 14,717 — Collateralized debt securities 3,818 — 3,818 — Other debt securities 2,441 — 2,441 — Total bonds available-for-sale 6,145,308 — 6,145,308 — Equity securities Common stock 1,760,627 1,760,499 — 128 Preferred stock 23,599 23,599 — — Total equity securities 1,784,226 1,784,098 — 128 Options 220,190 — — 220,190 Mortgage loans on real estate 4,811,006 — 4,811,006 — Policy loans 377,103 — — 377,103 Short-term investments 658,765 — 658,765 — Separate account assets 969,764 — 969,764 — Total financial assets $ 22,740,715 $ 1,784,098 $ 20,356,251 $ 600,366 Financial liabilities Investment contracts $ 8,990,771 $ — $ — $ 8,990,771 Embedded derivative liability for equity-indexed contracts 512,526 — — 512,526 Notes payable 137,458 — — 137,458 Separate account liabilities 969,764 — 969,764 — Total financial liabilities $ 10,610,519 $ — $ 969,764 $ 9,640,755
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 March 31, Assets Liability Investment Equity-Indexed Embedded Beginning balance, 2018 $ — $ 220,190 $ 512,526 Total realized and unrealized investment gains (losses) included in other comprehensive income — — — Net fair value change included in realized gains (losses) — — — Net loss for derivatives included in net investment income — (14,145 ) — Net change included in interest credited — — (13,436 ) Purchases, sales and settlements or maturities Purchases — 16,928 — Sales — — — Settlements or maturities — (18,665 ) — Premiums less benefits — — 36,551 Gross transfers into Level 3 — — — Gross transfers out of Level 3 — — — Ending balance at March 31, 2018 $ — $ 204,308 $ 535,641 Beginning balance, 2017 $ 14,264 $ 156,479 $ 314,330 Total realized and unrealized investment losses included in other comprehensive income (4,467 ) — — Net fair value change included in realized gains (losses) — — — Net gain for derivatives included in net investment income — 23,058 — Net change included in interest credited — — 25,127 Purchases, sales and settlements or maturities Purchases — 7,552 — Sales (1,957 ) — — Settlements or maturities (3,010 ) (12,831 ) — Premiums less benefits — — 7,177 Carry value transfers in 15,000 — Gross transfers into Level 3 382 — — Gross transfers out of Level 3 (2,883 ) — — Ending balance at March 31, 2017 $ 17,329 $ 174,258 $ 346,634

Deferred Policy Acquisition C32

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Deferred Policy Acquisition Costs	Deferred policy acquisition costs are shown below (in thousands): Life Annuity Accident Property & Total Beginning balance, 2018 $ 791,276 $ 426,497 $ 36,806 $ 119,265 $ 1,373,844 Additions 32,624 29,517 2,812 76,640 141,593 Amortization (26,181 ) (20,644 ) (3,900 ) (73,902 ) (124,627 ) Effect of change in unrealized gains on available-for-sale 13,556 6,498 — — 20,054 Net change 19,999 15,371 (1,088 ) 2,738 37,020 Ending balance at March 31, 2018 $ 811,275 $ 441,868 $ 35,718 $ 122,003 $ 1,410,864

Liability for Unpaid Claims a33

Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Liability for Unpaid Claims and Claim Adjustment Expenses	Information regarding the liability for unpaid claims is shown below (in thousands): Three months ended March 31, 2018 2017 Unpaid claims balance, beginning $ 1,199,233 $ 1,140,723 Less reinsurance recoverables 237,439 216,903 Net beginning balance 961,794 923,820 Incurred related to Current 266,225 282,862 Prior years (10,548 ) (29,054 ) Total incurred claims 255,677 253,808 Paid claims related to Current 101,617 107,669 Prior years 141,147 127,397 Total paid claims 242,764 235,066 Net balance 974,707 942,562 Plus reinsurance recoverables 221,734 195,836 Unpaid claims balance, ending $ 1,196,441 $ 1,138,398

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 Amount Rate Amount Rate* Income tax expense before tax on equity in earnings of unconsolidated affiliates* $ 4,365 21.6 % $ 15,630 28.9 % Tax on equity in earnings of unconsolidated affiliates (114 ) (0.6 ) 3,325 6.1 Total expected income tax expense at the statutory rate 4,251 21.0 18,955 35.0 Tax-exempt (843 ) (4.2 ) (1,832 ) (3.4 ) Deferred tax change (309 ) (1.5 ) (767 ) (1.4 ) Dividend exclusion (985 ) (4.9 ) (1,842 ) (3.4 ) Miscellaneous tax credits, net (2,213 ) (10.9 ) (2,257 ) (4.2 ) Low income housing tax credit expense 1,252 6.2 1,253 2.3 Other items, net 36 0.2 181 0.3 Provision for federal income tax before interest expense 1,189 5.9 13,691 25.2 Interest expense — — 44 0.1 Total $ 1,189 5.9 % $ 13,735 25.3 % * Prior year revised to reflect adoption of the new accounting standard issued March 2017. For details, see Note 3, Recently Issued Accounting Pronouncements, of the Notes to the Unaudited Consolidated Financial Statements.

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
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 Defined Foreign Accumulated Beginning balance, 2018 $ 716,878 $ (72,772 ) $ (1,890 ) $ 642,216 Amounts reclassified from AOCI (net of tax expense $26 and expense $210) 100 789 — 889 Unrealized holding losses arising during the period (net of tax benefit $30,091) (113,203 ) — — (113,203 ) Unrealized adjustment to DAC (net of tax expense $3,777) 16,277 — — 16,277 Unrealized losses on investments attributable to participating policyholders’ interest (net of tax expense $1,460) 5,493 — — 5,493 Foreign currency adjustment (net of tax benefit $97) — — (366 ) (366 ) Cumulative effect of changes in accounting (net of tax benefit $356,847) (637,376 ) — — (637,376 ) Ending balance at March 31, 2018 $ (11,831 ) $ (71,983 ) $ (2,256 ) $ (86,070 ) Beginning balance, 2017 $ 547,138 $ (88,603 ) $ (2,636 ) $ 455,899 Amounts reclassified from AOCI (net of tax benefit $1,547 and expense $826) (2,873 ) 1,534 — (1,339 ) Unrealized holding gains arising during the period (net of tax expense $34,927) 64,864 — — 64,864 Unrealized adjustment to DAC (net of tax benefit $2,596) (2,848 ) — — (2,848 ) Unrealized gains on investments attributable to participating policyholders’ interest (net of tax benefit $1,740) (3,231 ) — — (3,231 ) Foreign currency adjustment (net of tax expense $60) — — 112 112 Ending balance at March 31, 2017 $ 603,050 $ (87,069 ) $ (2,524 ) $ 513,457

Stockholders' Equity and Nonc36

Stockholders' Equity and Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Common Stock, Amounts Outstanding	The amounts outstanding at the dates indicated are shown below: March 31, 2018 December 31, 2017 Common stock Shares issued 30,832,449 30,832,449 Treasury shares (3,894,108 ) (3,900,565 ) Outstanding shares 26,938,341 26,931,884 Restricted shares (74,000 ) (74,000 ) Unrestricted outstanding shares 26,864,341 26,857,884
Stock-Based Compensation Information	SAR, RS and RSU information for the periods indicated are shown below: SAR RS Shares RS Units Shares Weighted-Average Shares Weighted-Average Units Weighted-Average Outstanding at December 31, 2017 2,586 $ 106.70 74,000 $ 110.19 52,765 $ 106.26 Granted — — — — — — Exercised — — — — (33,699 ) 104.39 Forfeited — — — — — — Expired — — — — — — Outstanding at March 31, 2018 2,586 $ 106.70 74,000 $ 110.19 19,066 $ 109.56 SAR RS Shares RS Units Weighted-average contractual remaining life (in years) 0.30 4.23 0.77 Exercisable shares 2,586 N/A N/A Weighted-average exercise price $ 106.70 $ 110.19 $ 109.56 Weighted-average exercise price exercisable shares 106.70 N/A N/A Compensation expense (credit) Three months ended March 31, 2018 $ (28,000 ) $ 201,000 $ (211,000 ) Three months ended March 31, 2017 (35,000 ) 207,000 130,000 Fair value of liability award March 31, 2018 $ 33,000 N/A $ 1,528,000 December 31, 2017 63,000 N/A 6,376,000
Summary of Basic and Diluted Earnings Per Share	Diluted earnings per share include RS and RSU award shares. Three months ended March 31, 2018 2017 Weighted average shares outstanding 26,889,151 26,899,648 Incremental shares from RS awards and RSUs 75,204 72,480 Total shares for diluted calculations 26,964,355 26,972,128 Net income attributable to American National (in thousands) $ 18,777 $ 39,840 Basic earnings per share $ 0.70 $ 1.48 Diluted earnings per share $ 0.70 $ 1.48
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): March 31, 2018 December 31, 2017 Statutory capital and surplus Life insurance entities $ 2,075,945 $ 2,141,573 Property and casualty insurance entities 1,172,698 1,162,761 Three months ended March 31, 2018 2017 Statutory net income Life insurance entities $ 3,263 $ 2,467 Property and casualty insurance entities 13,058 6,811

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Life Annuity Accident Property Corporate Total Premiums and other revenues Premiums $ 81,376 $ 70,616 $ 41,015 $ 351,973 $ — $ 544,980 Other policy revenues 67,731 3,608 — — — 71,339 Net investment income 57,768 113,480 2,354 15,861 (13,424 ) 176,039 Net realized investment gains — — — — 504 504 Other income 755 725 5,157 2,063 1,813 10,513 Total premiums and other revenues 207,630 188,429 48,526 369,897 (11,107 ) 803,375 Benefits, losses and expenses Policyholder benefits 98,546 84,746 — — — 183,292 Claims incurred — — 28,140 242,490 — 270,630 Interest credited to policyholders’ account balances 16,265 54,280 — — — 70,545 Commissions for acquiring and servicing policies 39,520 30,004 6,016 69,156 — 144,696 Other operating expenses 50,950 11,319 10,358 47,801 9,966 130,394 Change in deferred policy acquisition costs (6,443 ) (8,873 ) 1,088 (2,738 ) — (16,966 ) Total benefits, losses and expenses 198,838 171,476 45,602 356,709 9,966 782,591 Income before federal income tax and other items $ 8,792 $ 16,953 $ 2,924 $ 13,188 $ (21,073 ) $ 20,784 Three months ended March 31, 2017 Life Annuity Accident Property Corporate Total Premiums and other revenues Premiums $ 77,474 $ 29,809 $ 37,039 $ 327,450 $ — $ 471,772 Other policy revenues 59,909 3,543 — — — 63,452 Net investment income 62,209 139,677 2,507 14,040 10,070 228,503 Net realized investment gains — — — — 7,225 7,225 Other income 616 665 4,346 1,938 1,280 8,845 Total premiums and other revenues 200,208 173,694 43,892 343,428 18,575 779,797 Benefits, losses and expenses Policyholder benefits 101,166 43,989 — — — 145,155 Claims incurred — — 24,380 227,530 — 251,910 Interest credited to policyholders’ account balances 15,405 80,603 — — — 96,008 Commissions for acquiring and servicing policies 34,810 17,284 5,890 67,508 — 125,492 Other operating expenses 49,183 10,688 10,230 46,282 9,678 126,061 Change in deferred policy acquisition costs (7,857 ) (2,631 ) 1,332 (331 ) — (9,487 ) Total benefits, losses and expenses 192,707 149,933 41,832 340,989 9,678 735,139 Income before federal income tax and other items $ 7,501 $ 23,761 $ 2,060 $ 2,439 $ 8,897 $ 44,658

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
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 Amount due to (from) American National Three months ended March 31, March 31, December 31, Related Party Financial Statement Line Impacted 2018 2017 2018 2017 Gal-Tex Mortgage loan on real estate $ 400 $ 373 $ 1,823 $ 2,223 Gal-Tex Net investment income 38 66 11 13 Greer, Herz & Adams, LLP Other operating expenses 2,607 2,527 (483 ) (386 )

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail)	Mar. 31, 2018State
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states	50

Summary of Significant Accoun40

Summary of Significant Accounting Policies and Practices - Additional Information (Detail)	Mar. 31, 2018
Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Entity ownership percentage	100.00%

Recently Issued Accounting Pr41

Recently Issued Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Millions	Jan. 01, 2018	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative unrealized gains and losses reclassified from accumulated other comprehensive income to retained earnings	$ 667.7
Net periodic pension costs net of tax			$ 1,232
Equity Securities [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest related to unrealized gains and losses on equity securities	30.4
Retained Earnings [Member] | Accounting Standards Update 2016-16 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in retained earnings	$ 59.9
Investment Securities [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net investment income from change in unrealized investment gains (losses) on securities		$ (32.6)

Investment in Securities - Inve

Investment in Securities - Investments in Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	$ 7,915,973	$ 7,552,959
Held-to-maturity securities, Gross Unrealized Gains	129,339	240,713
Held-to-maturity securities, Gross Unrealized (Losses)	(81,588)	(19,319)
Held-to-maturity securities, Fair Value	7,963,724	7,774,353
Available-for-sale debt securities, Cost or Amortized Cost	6,100,771	5,957,901
Available-for-sale debt securities, Gross Unrealized Gains	102,715	204,803
Available-for-sale debt securities, Gross Unrealized (Losses)	(58,476)	(17,396)
Available-for-sale debt securities, Fair Value	6,145,010	6,145,308
Available-for-sale equity securities, Cost or Amortized Cost	776,740	757,583
Available-for-sale equity securities, Gross Unrealized Gains	1,006,158	1,033,809
Available-for-sale equity securities, Gross Unrealized (Losses)	(12,145)	(7,166)
Available-for-sale equity securities, Fair Value	1,770,753	1,784,226
Investments in securities, Cost or Amortized cost	14,793,484	14,268,443
Investments in securities, Gross Unrealized Gains	1,238,212	1,479,325
Investments in securities, Gross Unrealized (Losses)	(152,209)	(43,881)
Investments in securities, Fair Value	15,879,487	15,703,887
Foreign Governments [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	3,999	4,011
Held-to-maturity securities, Gross Unrealized Gains	523	582
Held-to-maturity securities, Fair Value	4,522	4,593
Available-for-sale debt securities, Cost or Amortized Cost	5,000	5,000
Available-for-sale debt securities, Gross Unrealized Gains	1,287	1,460
Available-for-sale debt securities, Fair Value	6,287	6,460
Corporate Debt Securities [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	7,372,239	7,032,464
Held-to-maturity securities, Gross Unrealized Gains	112,160	217,883
Held-to-maturity securities, Gross Unrealized (Losses)	(78,867)	(18,020)
Held-to-maturity securities, Fair Value	7,405,532	7,232,327
Available-for-sale debt securities, Cost or Amortized Cost	5,173,405	5,038,908
Available-for-sale debt securities, Gross Unrealized Gains	83,455	170,112
Available-for-sale debt securities, Gross Unrealized (Losses)	(53,795)	(16,093)
Available-for-sale debt securities, Fair Value	5,203,065	5,192,927
Preferred Stock [Member]
Investment [Line Items]
Available-for-sale equity securities, Cost or Amortized Cost	18,318	19,130
Available-for-sale equity securities, Gross Unrealized Gains	3,657	4,469
Available-for-sale equity securities, Gross Unrealized (Losses)	(600)
Available-for-sale equity securities, Fair Value	21,375	23,599
Common Stock [Member]
Investment [Line Items]
Available-for-sale equity securities, Cost or Amortized Cost	758,422	738,453
Available-for-sale equity securities, Gross Unrealized Gains	1,002,501	1,029,340
Available-for-sale equity securities, Gross Unrealized (Losses)	(11,545)	(7,166)
Available-for-sale equity securities, Fair Value	1,749,378	1,760,627
U.S. Treasury and Government [Member]
Investment [Line Items]
Available-for-sale debt securities, Cost or Amortized Cost	28,483	27,569
Available-for-sale debt securities, Gross Unrealized Gains	403	475
Available-for-sale debt securities, Gross Unrealized (Losses)	(274)	(146)
Available-for-sale debt securities, Fair Value	28,612	27,898
U.S. States and Political Subdivisions [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	269,946	266,966
Held-to-maturity securities, Gross Unrealized Gains	8,924	12,466
Held-to-maturity securities, Gross Unrealized (Losses)	(204)	(37)
Held-to-maturity securities, Fair Value	278,666	279,395
Available-for-sale debt securities, Cost or Amortized Cost	859,090	866,250
Available-for-sale debt securities, Gross Unrealized Gains	16,478	31,621
Available-for-sale debt securities, Gross Unrealized (Losses)	(3,856)	(824)
Available-for-sale debt securities, Fair Value	871,712	897,047
Residential Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	267,929	246,803
Held-to-maturity securities, Gross Unrealized Gains	7,679	9,702
Held-to-maturity securities, Gross Unrealized (Losses)	(2,517)	(1,262)
Held-to-maturity securities, Fair Value	273,091	255,243
Available-for-sale debt securities, Cost or Amortized Cost	31,708	15,009
Available-for-sale debt securities, Gross Unrealized Gains	390	37
Available-for-sale debt securities, Gross Unrealized (Losses)	(546)	(329)
Available-for-sale debt securities, Fair Value	31,552	14,717
Collateralized Debt Securities [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	597	923
Held-to-maturity securities, Gross Unrealized Gains	22	31
Held-to-maturity securities, Fair Value	619	954
Available-for-sale debt securities, Cost or Amortized Cost	3,085	3,171
Available-for-sale debt securities, Gross Unrealized Gains	702	651
Available-for-sale debt securities, Gross Unrealized (Losses)	(5)	(4)
Available-for-sale debt securities, Fair Value	3,782	3,818
Other Debt Securities [Member]
Investment [Line Items]
Held-to-maturity securities, Cost or Amortized Cost	1,263	1,792
Held-to-maturity securities, Gross Unrealized Gains	31	49
Held-to-maturity securities, Fair Value	$ 1,294	1,841
Available-for-sale debt securities, Cost or Amortized Cost		1,994
Available-for-sale debt securities, Gross Unrealized Gains		447
Available-for-sale debt securities, Fair Value		$ 2,441

Investment in Securities - Matu

Investment in Securities - Maturities of Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale Securities and Held-to-maturity Securities [Abstract]
Bonds Held-to-Maturity, Amortized Cost, Due in one year or less	$ 226,948
Bonds Held-to-Maturity, Amortized Cost, Due after one year through five years	4,349,837
Bonds Held-to-Maturity, Amortized Cost, Due after five years through ten years	2,758,080
Bonds Held-to-Maturity, Amortized Cost, Due after ten years	581,108
Held-to-maturity securities, Cost or Amortized Cost	7,915,973	$ 7,552,959
Bonds Held-to-Maturity, Fair Value, Due in one year or less	229,707
Bonds Held-to-Maturity, Fair Value, Due after one year through five years	4,415,709
Bonds Held-to-Maturity, Fair Value, Due after five years through ten years	2,740,046
Bonds Held-to-Maturity, Fair Value, Due after ten years	578,262
Held-to-maturity securities, Fair Value	7,963,724	7,774,353
Bonds Available-for-Sale, Amortized Cost, Due in one year or less	137,593
Bonds Available-for-Sale, Amortized Cost, Due after one year through five years	2,228,746
Bonds Available-for-Sale, Amortized Cost, Due after five years through ten years	3,172,783
Bonds Available-for-Sale, Amortized Cost, Due after ten years	561,649
Available-for-sale debt securities, Cost or Amortized Cost	6,100,771	5,957,901
Bonds Available-for-Sale, Fair Value, Due in one year or less	139,037
Bonds Available-for-Sale, Fair Value, Due after one year through five years	2,265,488
Bonds Available-for-Sale, Fair Value, Due after five years through ten years	3,178,309
Bonds Available-for-Sale, Fair Value, Due after ten years	562,176
Available-for-sale debt securities, Fair Value	$ 6,145,010	$ 6,145,308

Investment in Securities - Proc

Investment in Securities - Proceeds from Available for Sale Securities and Realized Gain Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract]
Proceeds from sales of available-for-sale securities	$ 47,181	$ 27,723
Gross realized gains	1,424	10,826
Gross realized losses	$ (555)	$ (6)

Investment in Securities - Addi

Investment in Securities - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2018
Amortized Cost and Fair Value Debt Securities [Abstract]
Securities transferred from held-to-maturity to available-for-sale	$ 15,000,000	$ 34,850,000
Unrealized loss, transferred securities	$ (6,000,000)

Investment in Securities - Chan

Investment in Securities - Change in Net Unrealized Gains (Losses) on Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Adjustments for
Deferred policy acquisition costs	$ (20,054)
Change in net unrealized gains (losses) on debt securities, net of tax	(91,333)	$ 55,912
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in net unrealized gains (losses) on securities during the year	(143,168)	36,075
Adjustments for
Deferred policy acquisition costs	20,054	(5,444)
Participating policyholders' interest	6,953	(4,971)
Deferred federal income tax benefit (expense)	24,828	(8,290)
Change in net unrealized gains (losses) on debt securities, net of tax	(91,333)	17,370
Equity Securities [Member]
Unrealized gains (losses) on equity securities
Net gains (losses) on equity securities	(31,575)	70,656
Less: Net gains on equity securities sold	(1,055)	(11,360)
Unrealized gains (losses) on equity securities	$ (32,630)	$ 59,296

Investment in Securities - Gros

Investment in Securities - Gross Unrealized Losses and Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Bonds held-to-maturity, Less than 12 months, Unrealized (Losses)	$ (70,633)	$ (8,806)
Bonds held-to-maturity, Less than 12 months, Fair Value	3,014,013	1,002,645
Bonds held-to-maturity, 12 months or more, Unrealized (Losses)	(10,955)	(10,513)
Bonds held-to-maturity, 12 months or more, Fair Value	173,746	211,625
Bonds held-to-maturity, Total, Unrealized (Losses)	(81,588)	(19,319)
Bonds held-to-maturity, Total, Fair Value	3,187,759	1,214,270
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(44,473)	(7,151)
Available-for-sale securities, Less than 12 months, Fair Value	2,121,819	620,150
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(14,003)	(10,245)
Available-for-sale securities, 12 months or more, Fair Value	179,168	192,968
Available-for-sale securities, Total, Unrealized (Losses)	(58,476)	(17,396)
Available-for-sale securities, Total, Fair Value	2,300,987	813,118
Investment in securities, Less than 12 months, Unrealized (Losses)	(127,251)	(23,123)
Investment in securities, Less than 12 months, Fair Value	5,216,920	1,683,186
Investment in securities, More than 12 months, Unrealized (Losses)	(24,958)	(20,758)
Investment in securities, More than 12 months, Fair Value	352,914	404,593
Investment in securities, Total, Unrealized (Losses)	(152,209)	(43,881)
Investment in securities, Total, Fair Value	5,569,834	2,087,779
Preferred Stock [Member]
Investment [Line Items]
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(600)
Available-for-sale securities, Less than 12 months, Fair Value	5,000
Available-for-sale securities, Total, Unrealized (Losses)	(600)
Available-for-sale securities, Total, Fair Value	5,000
Corporate Debt Securities [Member]
Investment [Line Items]
Bonds held-to-maturity, Less than 12 months, Unrealized (Losses)	(68,999)	(8,444)
Bonds held-to-maturity, Less than 12 months, Fair Value	2,869,097	951,425
Bonds held-to-maturity, 12 months or more, Unrealized (Losses)	(9,868)	(9,576)
Bonds held-to-maturity, 12 months or more, Fair Value	156,182	192,737
Bonds held-to-maturity, Total, Unrealized (Losses)	(78,867)	(18,020)
Bonds held-to-maturity, Total, Fair Value	3,025,279	1,144,162
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(41,341)	(6,657)
Available-for-sale securities, Less than 12 months, Fair Value	1,895,863	559,710
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(12,454)	(9,436)
Available-for-sale securities, 12 months or more, Fair Value	146,268	159,532
Available-for-sale securities, Total, Unrealized (Losses)	(53,795)	(16,093)
Available-for-sale securities, Total, Fair Value	2,042,131	719,242
Common Stock [Member]
Investment [Line Items]
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(11,545)	(7,166)
Available-for-sale securities, Less than 12 months, Fair Value	76,088	60,391
Available-for-sale securities, Total, Unrealized (Losses)	(11,545)	(7,166)
Available-for-sale securities, Total, Fair Value	76,088	60,391
Equity Securities [Member]
Investment [Line Items]
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(12,145)	(7,166)
Available-for-sale securities, Less than 12 months, Fair Value	81,088	60,391
Available-for-sale securities, Total, Unrealized (Losses)	(12,145)	(7,166)
Available-for-sale securities, Total, Fair Value	81,088	60,391
U.S. Treasury and Government [Member]
Investment [Line Items]
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(271)	(141)
Available-for-sale securities, Less than 12 months, Fair Value	15,456	20,352
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(3)	(5)
Available-for-sale securities, 12 months or more, Fair Value	4,221	3,875
Available-for-sale securities, Total, Unrealized (Losses)	(274)	(146)
Available-for-sale securities, Total, Fair Value	19,677	24,227
U.S. States and Political Subdivisions [Member]
Investment [Line Items]
Bonds held-to-maturity, Less than 12 months, Unrealized (Losses)	(204)	(37)
Bonds held-to-maturity, Less than 12 months, Fair Value	40,410	1,937
Bonds held-to-maturity, Total, Unrealized (Losses)	(204)	(37)
Bonds held-to-maturity, Total, Fair Value	40,410	1,937
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(2,455)	(160)
Available-for-sale securities, Less than 12 months, Fair Value	183,318	27,669
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(1,401)	(664)
Available-for-sale securities, 12 months or more, Fair Value	27,197	28,010
Available-for-sale securities, Total, Unrealized (Losses)	(3,856)	(824)
Available-for-sale securities, Total, Fair Value	210,515	55,679
Residential Mortgage-Backed Securities [Member]
Investment [Line Items]
Bonds held-to-maturity, Less than 12 months, Unrealized (Losses)	(1,430)	(325)
Bonds held-to-maturity, Less than 12 months, Fair Value	104,506	49,283
Bonds held-to-maturity, 12 months or more, Unrealized (Losses)	(1,087)	(937)
Bonds held-to-maturity, 12 months or more, Fair Value	17,564	18,888
Bonds held-to-maturity, Total, Unrealized (Losses)	(2,517)	(1,262)
Bonds held-to-maturity, Total, Fair Value	122,070	68,171
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(405)	(193)
Available-for-sale securities, Less than 12 months, Fair Value	27,023	12,419
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(141)	(136)
Available-for-sale securities, 12 months or more, Fair Value	1,359	1,428
Available-for-sale securities, Total, Unrealized (Losses)	(546)	(329)
Available-for-sale securities, Total, Fair Value	28,382	13,847
Collateralized Debt Securities [Member]
Investment [Line Items]
Available-for-sale securities, Less than 12 months, Unrealized (Losses)	(1)
Available-for-sale securities, Less than 12 months, Fair Value	159
Available-for-sale securities, 12 months or more, Unrealized (Losses)	(4)	(4)
Available-for-sale securities, 12 months or more, Fair Value	123	123
Available-for-sale securities, Total, Unrealized (Losses)	(5)	(4)
Available-for-sale securities, Total, Fair Value	$ 282	$ 123

Investment in Securities - Bond

Investment in Securities - Bond by Credit Quality Rating Distribution (Detail) - Bonds [Member] - Credit Risk Financial Instruments [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Amortized Cost	$ 14,016,744	$ 13,510,860
Estimated Fair Value	$ 14,108,734	$ 13,919,661
Portfolio of investment by credit quality	100.00%	100.00%
AAA [Member]
Concentration Risk [Line Items]
Amortized Cost	$ 631,251	$ 638,039
Estimated Fair Value	$ 646,046	$ 664,396
Portfolio of investment by credit quality	4.60%	4.80%
AA [Member]
Concentration Risk [Line Items]
Amortized Cost	$ 1,239,163	$ 1,220,544
Estimated Fair Value	$ 1,256,909	$ 1,264,282
Portfolio of investment by credit quality	8.90%	9.00%
S&P A Rating [Member]
Concentration Risk [Line Items]
Amortized Cost	$ 5,041,380	$ 4,856,802
Estimated Fair Value	$ 5,061,204	$ 4,997,574
Portfolio of investment by credit quality	35.90%	35.90%
S&P BBB Rating [Member]
Concentration Risk [Line Items]
Amortized Cost	$ 6,575,551	$ 6,273,220
Estimated Fair Value	$ 6,631,221	$ 6,480,719
Portfolio of investment by credit quality	47.00%	46.60%
BB and Below [Member]
Concentration Risk [Line Items]
Amortized Cost	$ 529,399	$ 522,255
Estimated Fair Value	$ 513,354	$ 512,690
Portfolio of investment by credit quality	3.60%	3.70%

Investment in Securities - Equi

Investment in Securities - Equity Securities by Market Sector Distribution (Detail) - Equity Securities [Member] - Credit Concentration Risk [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Equity securities with market sector distribution	100.00%	100.00%
Consumer Goods [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	20.10%	20.20%
Energy and Utilities [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	8.10%	8.60%
Finance [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	21.30%	21.90%
Healthcare [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	11.50%	11.80%
Industrials [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	9.60%	9.50%
Information Technology [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	20.80%	20.00%
Other [Member]
Concentration Risk [Line Items]
Equity securities with market sector distribution	8.60%	8.00%

Mortgage Loans - Distribution B

Mortgage Loans - Distribution Based on Carrying Amount of Mortgage Loans by Location (Detail) - Mortgage Loans On Real Estate Concentration Risk [Member] - Geographic Concentration Risk [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Mortgage loans	100.00%	100.00%
East North Central [Member]
Concentration Risk [Line Items]
Mortgage loans	15.20%	15.40%
East South Central [Member]
Concentration Risk [Line Items]
Mortgage loans	3.00%	3.10%
Mountain [Member]
Concentration Risk [Line Items]
Mortgage loans	15.20%	14.00%
Pacific [Member]
Concentration Risk [Line Items]
Mortgage loans	16.70%	16.50%
South Atlantic [Member]
Concentration Risk [Line Items]
Mortgage loans	13.50%	14.10%
West South Central [Member]
Concentration Risk [Line Items]
Mortgage loans	29.00%	29.80%
Other [Member]
Concentration Risk [Line Items]
Mortgage loans	7.40%	7.10%

Mortgage Loans - Additional Inf

Mortgage Loans - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)MortgageLoan	Dec. 31, 2017USD ($)MortgageLoan
Schedule Of Mortgage Securities And Similar Investments [Line Items]
Number of mortgage loan foreclosed | MortgageLoan	2	1
Mortgage loans foreclosure process	$ 12,635,000	$ 17,263,000
Number of loans in foreclosure process | MortgageLoan	3	4
Number of mortgage loans sold | MortgageLoan	0	0
Unamortized discounts	$ 0	$ 0
Unamortized origination fees, mortgage loans	$ 31,923,000	32,766,000
Number of loans	0
Bank Loan One [Member]
Schedule Of Mortgage Securities And Similar Investments [Line Items]
Mortgage loans foreclosed	$ 1,940,000	$ 2,285,000
Bank Loan Two [Member]
Schedule Of Mortgage Securities And Similar Investments [Line Items]
Mortgage loans foreclosed	$ 8,376,000

Mortgage Loans - Age Analysis o

Mortgage Loans - Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 63,573	$ 24,579
Current	4,874,523	4,744,286
Gross loan receivable amount	4,938,096	4,768,865
Allowance for loan losses	$ (18,055)	$ (18,866)
Total Loans Percent	100.00%	100.00%
Total, net of allowance	$ 4,920,041	$ 4,749,999
Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	28,822	4,985
Current	778,680	781,385
Gross loan receivable amount	$ 807,502	$ 786,370
Total Loans Percent	16.40%	16.50%
Office [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 19,649	$ 19,594
Current	1,806,365	1,764,151
Gross loan receivable amount	$ 1,826,014	$ 1,783,745
Total Loans Percent	37.00%	37.40%
Retail [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 759,257	$ 750,979
Gross loan receivable amount	$ 759,257	$ 750,979
Total Loans Percent	15.40%	15.70%
Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 15,102
Current	1,530,221	$ 1,447,771
Gross loan receivable amount	$ 1,545,323	$ 1,447,771
Total Loans Percent	31.20%	30.40%
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 36,331	$ 4,985
30-59 Days Past Due [Member] | Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	28,822	4,985
30-59 Days Past Due [Member] | Office [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	7,509
60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	20,810	10,713
60-89 Days Past Due [Member] | Office [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5,708	10,713
60-89 Days Past Due [Member] | Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	15,102
More Than 90 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6,432	8,881
More Than 90 Days [Member] | Office [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 6,432	$ 8,881

Mortgage Loans - Change in Allo

Mortgage Loans - Change in Allowance for Credit Losses in Mortgage Loans (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for Credit Losses, Collectively Evaluated for Impairment, Number of Loans, Beginning Balance | Loans	451
Allowance for Credit Losses, Collectively Evaluated for Impairment, Number of Loans, Change in recorded investment | Loans	6
Allowance for Credit Losses, Collectively Evaluated for Impairment, Number of Loans, Ending Balance | Loans	457
Allowance for Credit Losses, Collectively Evaluated for Impairment, Recorded Investment, Beginning Balance	$ 4,762,315
Allowance for Credit Losses, Collectively Evaluated for Impairment, Recorded Investment, Change in recorded investment	171,171
Allowance for Credit Losses, Collectively Evaluated for Impairment, Recorded Investment, Ending Balance	4,933,486
Allowance for Credit Losses, Collectively Evaluated for Impairment, Valuation Allowance, Beginning Balance	16,041
Allowance for Credit Losses, Collectively Evaluated for Impairment, Valuation Allowance, Change in allowance	(302)
Allowance for Credit Losses, Collectively Evaluated for Impairment, Valuation Allowance,, Ending Balance	$ 15,739
Allowance for Credit Losses, Individually Impaired, Number of Loans, Beginning Balance | Loans	3
Allowance for Credit Losses, Individually Impaired, Number of Loans, Change in recorded investment | Loans	(1)
Allowance for Credit Losses, Individually Impaired, Number of Loans, Ending Balance | Loans	2
Allowance for Credit Losses, Individually Impaired, Recorded Investment, Beginning Balance	$ 6,550
Allowance for Credit Losses, Individually Impaired, Recorded Investment, Change in recorded investment	(1,940)
Allowance for Credit Losses, Individually Impaired, Recorded Investment, Ending Balance	4,610
Allowance for Credit Losses, Individually Impaired, Valuation Allowance, Beginning Balance	2,825
Allowance for Credit Losses, Individually Impaired, Valuation Allowance, Change in recorded investment	(509)
Allowance for Credit Losses, Individually Impaired, Valuation Allowance, Ending Balance	$ 2,316
Allowance for Credit Losses, Number of Loans, Beginning Balance | Loans	454
Allowance for Credit Losses, Number of Loans, Change in recorded investment | Loans	5
Allowance for Credit Losses, Number of Loans, Ending Balance | Loans	459
Allowance for Credit Losses, Recorded Investment, Beginning Balance	$ 4,768,865
Allowance for Credit Losses, Recorded Investment, Change in recorded investment	169,231
Allowance for Credit Losses, Recorded Investment, Ending Balance	4,938,096
Allowance for Credit Losses, Valuation Allowance, Beginning Balance	18,866
Allowance for Credit Losses, Valuation Allowance, Change in allowance	(509)
Allowance for Credit Losses, Valuation Allowance, Ending Balance	$ 18,055

Mortgage Loans - Schedule of Tr

Mortgage Loans - Schedule of Troubled Debt Restructuring Mortgage Loan Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)Loans
Financing Receivable, Modifications [Line Items]
Number of loans | Loans	5
Recorded investment pre-modification	$ 24,801
Recorded investment post modification	$ 24,801
Other (Hotel/Motel) [Member]
Financing Receivable, Modifications [Line Items]
Number of loans | Loans	5
Recorded investment pre-modification	$ 24,801
Recorded investment post modification	$ 24,801

Real Estate and Other Investm55

Real Estate and Other Investments - Investment Real Estate by Property-Type and Geographic Distribution (Detail) - Real Estate [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Property Type Concentration Risk [Member]
Concentration Risk [Line Items]
Investment real estate	100.00%	100.00%
Property Type Concentration Risk [Member] | Industrial [Member]
Concentration Risk [Line Items]
Investment real estate	5.60%	6.00%
Property Type Concentration Risk [Member] | Office [Member]
Concentration Risk [Line Items]
Investment real estate	40.20%	39.00%
Property Type Concentration Risk [Member] | Retail [Member]
Concentration Risk [Line Items]
Investment real estate	39.20%	39.30%
Property Type Concentration Risk [Member] | Other [Member]
Concentration Risk [Line Items]
Investment real estate	15.00%	15.70%
Geographic Distribution [Member]
Concentration Risk [Line Items]
Investment real estate	100.00%	100.00%
Geographic Distribution [Member] | East North Central [Member]
Concentration Risk [Line Items]
Investment real estate	6.00%	6.10%
Geographic Distribution [Member] | East South Central [Member]
Concentration Risk [Line Items]
Investment real estate	4.00%	3.60%
Geographic Distribution [Member] | Mountain [Member]
Concentration Risk [Line Items]
Investment real estate	13.00%	13.20%
Geographic Distribution [Member] | Pacific [Member]
Concentration Risk [Line Items]
Investment real estate	8.30%	8.50%
Geographic Distribution [Member] | South Atlantic [Member]
Concentration Risk [Line Items]
Investment real estate	15.30%	14.00%
Geographic Distribution [Member] | West South Central [Member]
Concentration Risk [Line Items]
Investment real estate	51.00%	52.40%
Geographic Distribution [Member] | Other [Member]
Concentration Risk [Line Items]
Investment real estate	2.40%	2.20%

Real Estate and Other Investm56

Real Estate and Other Investments - Assets and Liabilities Related to VIEs (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Investment real estate	$ 536,699	$ 532,346
Short-term investments	284,456	658,765
Cash and cash equivalents	329,036	375,837	$ 296,233	$ 289,338
Other assets	141,420	158,024
Notes payable	137,389	137,458
Other liabilities	428,922	477,855
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investment real estate	146,533	148,456
Short-term investments	500	501
Cash and cash equivalents	9,722	6,320
Other receivables	5,071	4,461
Other assets	13,628	15,920
Total assets of consolidated VIEs	175,454	175,658
Notes payable	137,389	137,458
Other liabilities	8,887	5,616
Total liabilities of consolidated VIEs	$ 146,276	$ 143,074

Real Estate and Other Investm57

Real Estate and Other Investments - Additional Information (Detail)	Mar. 31, 2018USD ($)Investment	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Maximum amount of investment in long-term notes payable | $	$ 27,952,000	$ 28,377,000
Number of real estate investment held for sale | Investment	0

Real Estate and Other Investm58

Real Estate and Other Investments - Schedule of Long-term Notes Payable of Consolidated VIEs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Notes payable	$ 137,389	$ 137,458
Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Notes payable	$ 137,389	137,458
Long Term Notes Payable Due 2022 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Notes payable maturity year	2,022
Notes payable	$ 86,918	87,632
LIBOR [Member] | Long Term Notes Payable Due 2020 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Notes payable maturity year	2,020
Notes payable	$ 10,129	9,702
LIBOR [Member] | Long Term Notes Payable Due 2021 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Notes payable maturity year	2,021
Notes payable	$ 40,342	$ 40,124

Real Estate and Other Investm59

Real Estate and Other Investments - Schedule of Long-term Notes Payable of Consolidated VIEs (Parenthetical) (Detail) - Variable Interest Entity, Primary Beneficiary [Member]	3 Months Ended
	Mar. 31, 2018
Long Term Notes Payable Due 2020 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	LIBOR
Long Term Notes Payable Due 2021 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	90 day LIBOR + 2.5%
Interest rate percentage	2.50%
Long Term Notes Payable Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate on long-term notes	4.00%

Real Estate and Other Investm60

Real Estate and Other Investments - Carrying Amount and Maximum Exposure to Loss Related to VIEs (Detail) - Variable Interest Entity, Not Primary Beneficiary [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Mortgage Loans [Member]
Variable Interest Entity [Line Items]
Carrying Amount	$ 557,195	$ 493,014
Maximum Exposure to Loss	557,195	493,014
Investments in Unconsolidated Affiliates [Member]
Variable Interest Entity [Line Items]
Carrying Amount	322,797	314,808
Maximum Exposure to Loss	322,797	314,808
Accrued Investment Income [Member]
Variable Interest Entity [Line Items]
Carrying Amount	2,128	1,817
Maximum Exposure to Loss	$ 2,128	$ 1,817

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments Reported in Financial Position (Detail) - Derivatives Not Designated as Hedging Instruments [Member] $ in Thousands	Mar. 31, 2018USD ($)Derivative	Dec. 31, 2017USD ($)Derivative
Equity-Indexed Options [Member] | Other Invested Assets [Member]
Derivatives, Fair Value [Line Items]
Number of Instruments | Derivative	488	468
Derivative Notional Amount, Asset	$ 2,086,850	$ 1,885,600
Estimated Fair Value of other invested assets	$ 204,308	$ 220,190
Equity-Indexed Embedded Derivative [Member] | Policyholders' Account Balances [Member]
Derivatives, Fair Value [Line Items]
Number of Instruments | Derivative	80,420	76,621
Derivative Notional Amount, Liability	$ 1,976,400	$ 1,819,523
Derivative Financial Instruments, Estimated Fair Value	$ 535,641	$ 512,526

Derivative Instruments - Sche62

Derivative Instruments - Schedule of Derivative Instruments Reported in Statements of Operations (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Investment Income [Member] | Equity-Indexed Options [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Income on Derivatives	$ (14,145)	$ 23,133
Interest Credited to Policyholders' Account Balances [Member] | Equity-Indexed Embedded Derivative [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Income on Derivatives	$ 13,436	$ (25,127)

Derivative Instruments - Sche63

Derivative Instruments - Schedule of Information Regarding Company's Exposure to Credit Loss on the Options Holds (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Credit Derivatives [Line Items]
Options Fair Value	$ 204,308	$ 220,190
Collateral Held	199,089	221,419
Collateral Amounts used to Offset Exposure	198,336	215,429
Excess Collateral	753	5,990
Exposure Net of Collateral	5,972	4,761
Barclays [Member] | Moody Baa2 Rating [Member] | S&P BBB Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	49,066	55,215
Collateral Held	49,443	56,883
Collateral Amounts used to Offset Exposure	49,066	55,215
Excess Collateral	377	1,668
Goldman-Sachs [Member] | Moody A3 Rating [Member] | S&P BBB Plus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	927	956
Collateral Held	1,030	780
Collateral Amounts used to Offset Exposure	927	780
Excess Collateral	103
Exposure Net of Collateral		176
ING [Member] | Moody Baa1 Rating [Member] | S&P A Minus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	25,617	26,650
Collateral Held	25,890	27,330
Collateral Amounts used to Offset Exposure	25,617	26,650
Excess Collateral	273	680
JP Morgan | Moody A3 Rating [Member] | S&P A Minus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	190	189
Exposure Net of Collateral	190	189
Morgan Stanley [Member] | Moody A3 Rating [Member] | S&P BBB Plus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	14,535	17,490
Collateral Held	14,396	18,776
Collateral Amounts used to Offset Exposure	14,396	17,490
Excess Collateral		1,286
Exposure Net of Collateral	139
NATIXIS [Member] | Moody A2 Rating [Member] | S&P A Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	38,140	37,550
Collateral Held	36,980	33,860
Collateral Amounts used to Offset Exposure	36,980	33,860
Exposure Net of Collateral	1,160	3,690
Sun Trust [Member] | Moody Baa1 Rating [Member] | S&P BBB Plus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	36,763	37,266
Collateral Held	34,040	36,560
Collateral Amounts used to Offset Exposure	34,040	36,560
Exposure Net of Collateral	2,723	706
Wells Fargo [Member] | Moody A2 Rating [Member] | S&P A Minus Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value	39,070
Collateral Held	37,310
Collateral Amounts used to Offset Exposure	37,310
Exposure Net of Collateral	$ 1,760
Wells Fargo [Member] | Moody A2 Rating [Member] | S&P A Rating [Member]
Credit Derivatives [Line Items]
Options Fair Value		44,874
Collateral Held		47,230
Collateral Amounts used to Offset Exposure		44,874
Excess Collateral		$ 2,356

Net Investment Income and Rea64

Net Investment Income and Realized Investment Gains (Losses) - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Investment Income [Line Items]
Net Investment Income, Total	$ 176,039	$ 228,503
Debt Securities [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	140,095	134,350
Dividends on Equity Securities [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	9,440	8,732
Net Unrealized Losses on Equity Securities [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	(32,630)
Mortgage Loans [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	63,868	57,704
Real Estate [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	4,283	(1,195)
Other Invested Assets [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	5,128	5,779
Options [Member]
Net Investment Income [Line Items]
Net Investment Income, Total	$ (14,145)	$ 23,133

Net Investment Income and Rea65

Net Investment Income and Realized Investment Gains (Losses) - Summary of Realized Investment Gains (Losses) and Other Than Temporary Impairment Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	$ 2,099	$ 14,008
Other-than-temporary impairment losses	(1,595)	(6,783)
Debt Securities [Member]
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	667	3,504
Other-than-temporary impairment losses		(6,000)
Equity Securities [Member]
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	1,055	11,360
Other-than-temporary impairment losses	(1,595)	(783)
Mortgage Loans [Member]
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	302	(1,626)
Real Estate [Member]
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	83	788
Other Invested Assets [Member]
Gain (Loss) on Investments [Line Items]
Realized investment gains (losses)	$ (8)	$ (18)

Fair Value of Financial Instr66

Fair Value of Financial Instruments - Carrying Amount and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financial assets
Fixed maturity securities, bonds held-to-maturity	$ 7,915,973	$ 7,552,959
Fixed maturity securities, bonds held-to-maturity	7,963,724	7,774,353
Fixed maturity securities, bonds available-for-sale	6,145,010	6,145,308
Equity securities	1,770,753	1,784,226
Mortgage loans on real estate, net of allowance	4,920,041	4,749,999
Policy loans	374,930	377,103
Short-term investments	284,456	658,765
Separate account assets	939,605	969,764
Financial liabilities
Notes payable	137,389	137,458
Separate account liabilities	939,605	969,764
Carrying Amount [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity	7,915,973	7,552,959
Fixed maturity securities, bonds available-for-sale	6,145,010	6,145,308
Equity securities	1,770,753	1,784,226
Equity-indexed options	204,308	220,190
Mortgage loans on real estate, net of allowance	4,920,041	4,749,999
Policy loans	374,930	377,103
Short-term investments	284,456	658,765
Separate account assets	939,605	969,764
Total financial assets	22,555,076	22,458,314
Financial liabilities
Investment contracts	9,844,880	8,990,771
Embedded derivative liability for equity-indexed contracts	535,641	512,526
Notes payable	137,389	137,458
Separate account liabilities	939,605	969,764
Total financial liabilities	11,457,515	10,610,519
Fair Value [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity	7,963,724	7,774,353
Fixed maturity securities, bonds available-for-sale	6,145,010	6,145,308
Equity securities	1,770,753	1,784,226
Equity-indexed options	204,308	220,190
Mortgage loans on real estate, net of allowance	4,961,466	4,811,006
Policy loans	374,930	377,103
Short-term investments	284,456	658,765
Separate account assets	939,605	969,764
Total financial assets	22,644,252	22,740,715
Financial liabilities
Investment contracts	9,844,880	8,990,771
Embedded derivative liability for equity-indexed contracts	535,641	512,526
Notes payable	137,389	137,458
Separate account liabilities	939,605	969,764
Total financial liabilities	$ 11,457,515	$ 10,610,519

Fair Value of Financial Instr67

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Volatility rate used to estimate derivative values	18.00%		13.70%
Unrealized gain (losses) relating to assets still held and included in net investment income	$ (24,627,000)	$ 17,028,000
Transfer between Level 1 and Level 2 fair value hierarchies	$ 0	$ 0

Fair Value of Financial Instr68

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 [Member] - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Indexed Annuities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative financial liabilities	$ 524.7	$ 498.3
Indexed Life [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative financial liabilities	$ 10.9	$ 14.2
Minimum [Member] | Level 3 [Member] | Indexed Annuities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Unobservable Input, Lapse Rate	1.00%
Unobservable Input, Mortality Multiplier	90.00%
Unobservable Input, Equity Volatility	7.00%
Minimum [Member] | Level 3 [Member] | Indexed Life [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Unobservable Input, Equity Volatility	7.00%
Maximum [Member] | Level 3 [Member] | Indexed Annuities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Unobservable Input, Lapse Rate	66.00%
Unobservable Input, Mortality Multiplier	100.00%
Unobservable Input, Equity Volatility	30.00%
Maximum [Member] | Level 3 [Member] | Indexed Life [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Unobservable Input, Equity Volatility	30.00%

Fair Value of Financial Instr69

Fair Value of Financial Instruments - Quantitative Disclosures Regarding Fair Value Hierarchy Measurements (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	$ 7,963,724	$ 7,774,353
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,145,010	6,145,308
Equity securities, fair value disclosure	1,770,753	1,784,226
Policy loans, fair value disclosure	374,930	377,103
Short-term investments, fair value disclosure	284,456	658,765
Separate account assets, fair value disclosure	939,605	969,764
Financial liabilities
Separate account liabilities, fair value disclosure	939,605	969,764
Preferred Stock [Member]
Financial assets
Equity securities, fair value disclosure	21,375	23,599
Foreign Governments [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	4,522	4,593
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,287	6,460
Corporate Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	7,405,532	7,232,327
Fixed maturity securities, bonds available-for-sale, fair value disclosure	5,203,065	5,192,927
U.S. States and Political Subdivisions [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	278,666	279,395
Fixed maturity securities, bonds available-for-sale, fair value disclosure	871,712	897,047
Residential Mortgage-Backed Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	273,091	255,243
Fixed maturity securities, bonds available-for-sale, fair value disclosure	31,552	14,717
Collateralized Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	619	954
Fixed maturity securities, bonds available-for-sale, fair value disclosure	3,782	3,818
Other Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	1,294	1,841
Fixed maturity securities, bonds available-for-sale, fair value disclosure		2,441
U.S. Treasury and Government [Member]
Financial assets
Fixed maturity securities, bonds available-for-sale, fair value disclosure	28,612	27,898
Common Stock [Member]
Financial assets
Equity securities, fair value disclosure	1,749,378	1,760,627
Recurring [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	7,963,724	7,774,353
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,145,010	6,145,308
Equity securities, fair value disclosure	1,770,753	1,784,226
Equity Indexed Options, fair value disclosure	204,308	220,190
Mortgage loans on real estate, net of allowance, fair value disclosure	4,961,466	4,811,006
Policy loans, fair value disclosure	374,930	377,103
Short-term investments, fair value disclosure	284,456	658,765
Separate account assets, fair value disclosure	939,605	969,764
Total financial assets, fair value disclosure	22,644,252	22,740,715
Financial liabilities
Investment contracts, fair value disclosure	9,844,880	8,990,771
Embedded derivative liability for equity-indexed contracts, fair value disclosure	535,641	512,526
Notes payable, fair value disclosure	137,389	137,458
Separate account liabilities, fair value disclosure	939,605	969,764
Total financial liabilities, fair value disclosure	11,457,515	10,610,519
Recurring [Member] | Preferred Stock [Member]
Financial assets
Equity securities, fair value disclosure	21,375	23,599
Recurring [Member] | Foreign Governments [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	4,522	4,593
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,287	6,460
Recurring [Member] | Corporate Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	7,405,532	7,232,327
Fixed maturity securities, bonds available-for-sale, fair value disclosure	5,203,065	5,192,927
Recurring [Member] | Level 1 [Member]
Financial assets
Equity securities, fair value disclosure	1,770,635	1,784,098
Total financial assets, fair value disclosure	1,770,635	1,784,098
Recurring [Member] | Level 1 [Member] | Preferred Stock [Member]
Financial assets
Equity securities, fair value disclosure	21,375	23,599
Recurring [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	7,963,724	7,771,408
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,145,010	6,145,308
Mortgage loans on real estate, net of allowance, fair value disclosure	4,961,466	4,811,006
Short-term investments, fair value disclosure	284,456	658,765
Separate account assets, fair value disclosure	939,605	969,764
Total financial assets, fair value disclosure	20,294,261	20,356,251
Financial liabilities
Separate account liabilities, fair value disclosure	939,605	969,764
Total financial liabilities, fair value disclosure	939,605	969,764
Recurring [Member] | Level 2 [Member] | Foreign Governments [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	4,522	4,593
Fixed maturity securities, bonds available-for-sale, fair value disclosure	6,287	6,460
Recurring [Member] | Level 2 [Member] | Corporate Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	7,405,532	7,232,327
Fixed maturity securities, bonds available-for-sale, fair value disclosure	5,203,065	5,192,927
Recurring [Member] | Level 3 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure		2,945
Equity securities, fair value disclosure	118	128
Equity Indexed Options, fair value disclosure	204,308	220,190
Policy loans, fair value disclosure	374,930	377,103
Total financial assets, fair value disclosure	579,356	600,366
Financial liabilities
Investment contracts, fair value disclosure	9,844,880	8,990,771
Embedded derivative liability for equity-indexed contracts, fair value disclosure	535,641	512,526
Notes payable, fair value disclosure	137,389	137,458
Total financial liabilities, fair value disclosure	10,517,910	9,640,755
Recurring [Member] | U.S. States and Political Subdivisions [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	278,666	279,395
Fixed maturity securities, bonds available-for-sale, fair value disclosure	871,712	897,047
Recurring [Member] | U.S. States and Political Subdivisions [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	278,666	276,450
Fixed maturity securities, bonds available-for-sale, fair value disclosure	871,712	897,047
Recurring [Member] | U.S. States and Political Subdivisions [Member] | Level 3 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure		2,945
Recurring [Member] | Residential Mortgage-Backed Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	273,091	255,243
Fixed maturity securities, bonds available-for-sale, fair value disclosure	31,552	14,717
Recurring [Member] | Residential Mortgage-Backed Securities [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	273,091	255,243
Fixed maturity securities, bonds available-for-sale, fair value disclosure	31,552	14,717
Recurring [Member] | Collateralized Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	619	954
Fixed maturity securities, bonds available-for-sale, fair value disclosure	3,782	3,818
Recurring [Member] | Collateralized Debt Securities [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	619	954
Fixed maturity securities, bonds available-for-sale, fair value disclosure	3,782	3,818
Recurring [Member] | Other Debt Securities [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	1,294	1,841
Fixed maturity securities, bonds available-for-sale, fair value disclosure		2,441
Recurring [Member] | Other Debt Securities [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds held-to-maturity securities, fair value disclosure	1,294	1,841
Fixed maturity securities, bonds available-for-sale, fair value disclosure		2,441
Recurring [Member] | U.S. Treasury and Government [Member]
Financial assets
Fixed maturity securities, bonds available-for-sale, fair value disclosure	28,612	27,898
Recurring [Member] | U.S. Treasury and Government [Member] | Level 2 [Member]
Financial assets
Fixed maturity securities, bonds available-for-sale, fair value disclosure	28,612	27,898
Recurring [Member] | Common Stock [Member]
Financial assets
Equity securities, fair value disclosure	1,749,378	1,760,627
Recurring [Member] | Common Stock [Member] | Level 1 [Member]
Financial assets
Equity securities, fair value disclosure	1,749,260	1,760,499
Recurring [Member] | Common Stock [Member] | Level 3 [Member]
Financial assets
Equity securities, fair value disclosure	$ 118	$ 128

Fair Value of Financial Instr70

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
	Mar. 31, 2018	Mar. 31, 2017
Equity-Indexed Embedded Derivative [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 512,526	$ 314,330
Total realized and unrealized investment gains (losses) included in other comprehensive income	0	0
Net fair value change included in realized gains (losses)	0	0
Net gain (loss) for derivatives included in net investment income	0	0
Net change included in interest credited	(13,436)	25,127
Purchases	0	0
Sales	0	0
Settlements or maturities	0	0
Premiums less benefits	36,551	7,177
Carry value transfers in		0
Gross transfers into Level 3	0	0
Gross transfers out of Level 3	0	0
Ending balance	535,641	346,634
Investment Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance		14,264
Total realized and unrealized investment gains (losses) included in other comprehensive income		(4,467)
Net fair value change included in realized gains (losses)	0	0
Net change included in interest credited	0	0
Sales		(1,957)
Settlements or maturities		(3,010)
Premiums less benefits	0	0
Carry value transfers in		15,000
Gross transfers into Level 3		382
Gross transfers out of Level 3		(2,883)
Ending balance		17,329
Equity-Indexed Options [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	220,190	156,479
Net fair value change included in realized gains (losses)	0	0
Net gain (loss) for derivatives included in net investment income	(14,145)	23,058
Net change included in interest credited	0	0
Purchases	16,928	7,552
Settlements or maturities	(18,665)	(12,831)
Premiums less benefits	0	0
Ending balance	$ 204,308	$ 174,258

Deferred Policy Acquisition C71

Deferred Policy Acquisition Costs - Deferred Policy Acquisition Costs (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Deferred Policy Acquisition Costs [Line Items]
Beginning balance	$ 1,373,844
Additions	141,593
Amortization	(124,627)
Effect of change in unrealized gains on available-for-sale debt securities	20,054
Net change	37,020
Ending balance	1,410,864
Life [Member]
Deferred Policy Acquisition Costs [Line Items]
Beginning balance	791,276
Additions	32,624
Amortization	(26,181)
Effect of change in unrealized gains on available-for-sale debt securities	13,556
Net change	19,999
Ending balance	811,275
Annuity [Member]
Deferred Policy Acquisition Costs [Line Items]
Beginning balance	426,497
Additions	29,517
Amortization	(20,644)
Effect of change in unrealized gains on available-for-sale debt securities	6,498
Net change	15,371
Ending balance	441,868
Accident & Health [Member]
Deferred Policy Acquisition Costs [Line Items]
Beginning balance	36,806
Additions	2,812
Amortization	(3,900)
Net change	(1,088)
Ending balance	35,718
Property & Casualty [Member]
Deferred Policy Acquisition Costs [Line Items]
Beginning balance	119,265
Additions	76,640
Amortization	(73,902)
Net change	2,738
Ending balance	$ 122,003

Liability for Unpaid Claims a72

Liability for Unpaid Claims and Claim Adjustment Expenses - Liability for Unpaid Claims and Claim Adjustment Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Liability For Unpaid Claims And Claims Adjustment Expense Net
Unpaid claims balance, beginning	$ 1,390,561
Less reinsurance recoverables	418,589
Paid claims related to
Plus reinsurance recoverables	412,805
Unpaid claims balance, ending	1,375,793
Property and Casualty Accident and Health [Member]
Liability For Unpaid Claims And Claims Adjustment Expense Net
Unpaid claims balance, beginning	1,199,233	$ 1,140,723
Less reinsurance recoverables	237,439	216,903
Net beginning balance	961,794	923,820
Incurred related to
Current	266,225	282,862
Prior years	(10,548)	(29,054)
Total incurred claims	255,677	253,808
Paid claims related to
Current	101,617	107,669
Prior years	141,147	127,397
Total paid claims	242,764	235,066
Net balance	974,707	942,562
Plus reinsurance recoverables	221,734	195,836
Unpaid claims balance, ending	$ 1,196,441	$ 1,138,398

Liability for Unpaid Claims a73

Liability for Unpaid Claims and Claim Adjustment Expenses - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
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	$ 10,548,000	$ 29,054,000
Short-duration health insurance claims	$ 34,751,000

Federal Income Taxes - Effectiv

Federal Income Taxes - Effective Income Tax Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense before tax on equity in earnings of unconsolidated affiliates	$ 4,365	$ 15,630
Tax on equity in earnings of unconsolidated affiliates	(114)	3,325
Total expected income tax expense at the statutory rate	4,251	18,955
Tax-exempt investment income	(843)	(1,832)
Deferred tax change	(309)	(767)
Dividend exclusion	(985)	(1,842)
Miscellaneous tax credits, net	(2,213)	(2,257)
Low income housing tax credit expense	1,252	1,253
Other items, net	36	181
Provision for federal income tax before interest expense	1,189	13,691
Interest expense		44
Total provision for federal income taxes	$ 1,189	$ 13,735
Income tax expense before tax on equity in earnings of unconsolidated affiliates	21.60%	28.90%
Tax on equity in earnings of unconsolidated affiliates	(0.60%)	6.10%
Total expected income tax expense at the statutory rate	21.00%	35.00%
Tax-exempt investment income	(4.20%)	(3.40%)
Deferred tax change	(1.50%)	(1.40%)
Dividend exclusion	(4.90%)	(3.40%)
Miscellaneous tax credits, net	(10.90%)	(4.20%)
Low income housing tax credit expense	6.20%	2.30%
Other items, net	0.20%	0.30%
Provision for federal income tax before interest expense	5.90%	25.20%
Interest expense		0.10%
Total, Rate	5.90%	25.30%

Federal Income Taxes - Addition

Federal Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule Of Income Taxes [Line Items]
Income taxes paid or refunded, net	$ 7,000,000	$ 0
Valuation allowance	0	$ 0
Operating loss tax carryforwards subject to expiration	$ 0
Operating loss tax carryforwards expiration date	Dec. 31, 2018
Income tax examination description	American National's federal income tax returns for years 2014 to 2016 are subject to examination by the Internal Revenue Service.
Tax Years for 2013 to 2016 [Member]
Schedule Of Income Taxes [Line Items]
Provision for penalties or interest recognized relating to dispute with Internal Revenue Service	$ 48,000,000

Accumulated Other Comprehensi76

Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of the period	$ 5,255,771
Foreign currency adjustment, net of tax expense (benefit)	(366)	$ 112
Balance at end of the period	5,221,510	4,737,910
Net Unrealized Gains (Losses) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of the period	716,878	547,138
Amounts reclassified from AOCI, net of tax expense (benefit)	(100)	(2,873)
Unrealized holding gains (losses) arising during the period, net of tax expense	(113,203)	64,864
Unrealized adjustment to DAC, net of tax benefit	16,277	(2,848)
Unrealized gains (losses) on investments attributable to participating policyholders' interest, net of tax expense (benefit)	(5,493)	(3,231)
Cumulative effect of changes in accounting	(637,376)
Balance at end of the period	(11,831)	603,050
Defined Benefit Pension Plan Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of the period	(72,772)	(88,603)
Amounts reclassified from AOCI, net of tax expense (benefit)	(789)	1,534
Balance at end of the period	(71,983)	(87,069)
Foreign Currency Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of the period	(1,890)	(2,636)
Foreign currency adjustment, net of tax expense (benefit)	(366)	112
Balance at end of the period	(2,256)	(2,524)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of the period	642,216	455,899
Amounts reclassified from AOCI, net of tax expense (benefit)	(889)	(1,339)
Unrealized holding gains (losses) arising during the period, net of tax expense	(113,203)	64,864
Unrealized adjustment to DAC, net of tax benefit	16,277	(2,848)
Unrealized gains (losses) on investments attributable to participating policyholders' interest, net of tax expense (benefit)	(5,493)	(3,231)
Foreign currency adjustment, net of tax expense (benefit)	(366)	112
Cumulative effect of changes in accounting	(637,376)
Balance at end of the period	$ (86,070)	$ 513,457

Accumulated Other Comprehensi77

Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Parenthetical) (Detail) - Accumulated Other Comprehensive Income (Loss) [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI, sale of securities tax expense (benefit)	$ 26	$ (1,547)
Amounts reclassified from AOCI, pension tax expense	210	826
Unrealized holding gains (losses) arising during the period, tax expense	(30,091)	34,927
Unrealized adjustment to deferred policy acquisition costs, tax expense (benefit)	3,777	(2,596)
Unrealized gains (losses) on investments attributable to participating policyholders' interest, tax expense (benefit)	1,460	(1,740)
Foreign currency adjustment, tax expense (benefit)	(97)	$ 60
Cumulative effect of changes in accounting, net of tax benefit	$ (356,847)

Stockholders' Equity and Nonc78

Stockholders' Equity and Noncontrolling Interests - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value	$ 1	$ 1	$ 1
Common stock, shares authorized	50,000,000	50,000,000	50,000,000
Maximum limit of shares available for grants under stock-based compensation plan	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%
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	$ 8,096,000	$ 9,012,000	$ 9,012,000
Scenario, Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory amount available for dividend payments without regulatory approval				$ 329,347,000
Parent Company [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory capital and surplus	3,244,268,000	3,293,474,000	3,293,474,000
Subsidiaries [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest	$ 1,346,000	2,262,000	$ 2,262,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk based capital action level percentage	200.00%		200.00%
Insurance Subsidiary [Member] | Missouri [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Statutory accounting practices permitted practice amount	$ 69,096,000	$ 66,625,000
County Mutual [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest	$ 6,750,000				$ 6,750,000
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Expiration of vesting period	5 years
Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate per year	20.00%
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 years
Shares granted	350,334
Exercise price of Restricted shares granted	$ 0
Number of shares unvested	74,000
Lapse restrictions on restricted stock awards	10 years
Restricted Stock Units [Member]
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 [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Stockholders' Equity and Nonc79

Stockholders' Equity and Noncontrolling Interests - Common Stock, Amounts Outstanding (Detail) - shares	Mar. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Shares issued	30,832,449	30,832,449
Treasury shares	(3,894,108)	(3,900,565)
Outstanding shares	26,938,341	26,931,884
Restricted shares	(74,000)	(74,000)
Unrestricted outstanding shares	26,864,341	26,857,884

Stockholders' Equity and Nonc80

Stockholders' Equity and Noncontrolling Interests - Stock-Based Compensation Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Shares	2,586
Granted, Shares	0
Forfeited, Shares	0
Expired, Shares	0
Ending balance, Shares	2,586
Weighted-Average Grant Date Fair Value, Beginning balance	$ 106.70
Weighted-Average Grant Date Fair Value, Granted	0
Weighted-Average Grant Date Fair Value, Forfeited	0
Weighted-Average Grant Date Fair Value, Expired	0
Weighted-Average Grant Date Fair Value, Ending balance	$ 106.70
Weighted-average contractual remaining life (in years)	3 months 19 days
Exercisable shares	2,586
Weighted-average exercise price	$ 106.70
Weighted-average exercise price exercisable shares	$ 106.70
Compensation expense (credit)	$ (28,000)	$ (35,000)
Fair value of liability award	$ 33,000		$ 63,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Shares	74,000
Granted, Shares	0
Forfeited, Shares	0
Expired, Shares	0
Ending balance, Shares	74,000
Weighted-Average Grant Date Fair Value, Beginning balance	$ 110.19
Weighted-Average Grant Date Fair Value, Granted	0
Weighted-Average Grant Date Fair Value, Forfeited	0
Weighted-Average Grant Date Fair Value, Expired	0
Weighted-Average Grant Date Fair Value, Ending balance	$ 110.19
Weighted-average contractual remaining life (in years)	4 years 2 months 23 days
Weighted-average exercise price	$ 110.19
Compensation expense (credit)	$ 201,000	207,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Shares	52,765
Granted, Shares	0
Exercised, Shares	(33,699)
Forfeited, Shares	0
Expired, Shares	0
Ending balance, Shares	19,066
Weighted-Average Grant Date Fair Value, Beginning balance	$ 106.26
Weighted-Average Grant Date Fair Value, Granted	0
Weighted-Average Grant Date Fair Value, Exercised	104.39
Weighted-Average Grant Date Fair Value, Forfeited	0
Weighted-Average Grant Date Fair Value, Expired	0
Weighted-Average Grant Date Fair Value, Ending balance	$ 109.56
Weighted-average contractual remaining life (in years)	9 months 7 days
Weighted-average exercise price	$ 109.56
Compensation expense (credit)	$ (211,000)	$ 130,000
Fair value of liability award	$ 1,528,000		$ 6,376,000

Stockholders' Equity and Nonc81

Stockholders' Equity and Noncontrolling Interests - Summary of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted average shares outstanding	26,889,151	26,899,648
Incremental shares from RS awards and RSUs	75,204	72,480
Total shares for diluted calculations	26,964,355	26,972,128
Net income attributable to American National (in thousands)	$ 18,777	$ 39,840
Basic earnings per share	$ 0.70	$ 1.48
Diluted earnings per share	$ 0.70	$ 1.48

Stockholders' Equity and Nonc82

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
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Life [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 2,075,945		$ 2,141,573
Statutory net income	3,263	$ 2,467
Property & Casualty [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	1,172,698		$ 1,162,761
Statutory net income	$ 13,058	$ 6,811

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
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
	Mar. 31, 2018	Mar. 31, 2017
Premiums and other revenues
Premiums	$ 544,980	$ 471,772
Other policy revenues	71,339	63,452
Net investment income	176,039	228,503
Net realized investment gains	504	7,225
Other income	10,513	8,845
Total premiums and other revenues	803,375	779,797
Benefits, losses and expenses
Policyholder benefits	183,292	145,155
Claims incurred	270,630	251,910
Interest credited to policyholders' account balances	70,545	96,008
Commissions for acquiring and servicing policies	144,696	125,492
Other operating expenses	130,394	126,061
Change in deferred policy acquisition costs	(16,966)	(9,487)
Total benefits, losses and expenses	782,591	735,139
Income before federal income tax and other items	20,784	44,658
Life [Member]
Premiums and other revenues
Premiums	81,376	77,474
Other policy revenues	67,731	59,909
Net investment income	57,768	62,209
Other income	755	616
Total premiums and other revenues	207,630	200,208
Benefits, losses and expenses
Policyholder benefits	98,546	101,166
Interest credited to policyholders' account balances	16,265	15,405
Commissions for acquiring and servicing policies	39,520	34,810
Other operating expenses	50,950	49,183
Change in deferred policy acquisition costs	(6,443)	(7,857)
Total benefits, losses and expenses	198,838	192,707
Income before federal income tax and other items	8,792	7,501
Annuity [Member]
Premiums and other revenues
Premiums	70,616	29,809
Other policy revenues	3,608	3,543
Net investment income	113,480	139,677
Other income	725	665
Total premiums and other revenues	188,429	173,694
Benefits, losses and expenses
Policyholder benefits	84,746	43,989
Interest credited to policyholders' account balances	54,280	80,603
Commissions for acquiring and servicing policies	30,004	17,284
Other operating expenses	11,319	10,688
Change in deferred policy acquisition costs	(8,873)	(2,631)
Total benefits, losses and expenses	171,476	149,933
Income before federal income tax and other items	16,953	23,761
Accident & Health [Member]
Premiums and other revenues
Premiums	41,015	37,039
Net investment income	2,354	2,507
Other income	5,157	4,346
Total premiums and other revenues	48,526	43,892
Benefits, losses and expenses
Claims incurred	28,140	24,380
Commissions for acquiring and servicing policies	6,016	5,890
Other operating expenses	10,358	10,230
Change in deferred policy acquisition costs	1,088	1,332
Total benefits, losses and expenses	45,602	41,832
Income before federal income tax and other items	2,924	2,060
Property & Casualty [Member]
Premiums and other revenues
Premiums	351,973	327,450
Net investment income	15,861	14,040
Other income	2,063	1,938
Total premiums and other revenues	369,897	343,428
Benefits, losses and expenses
Claims incurred	242,490	227,530
Commissions for acquiring and servicing policies	69,156	67,508
Other operating expenses	47,801	46,282
Change in deferred policy acquisition costs	(2,738)	(331)
Total benefits, losses and expenses	356,709	340,989
Income before federal income tax and other items	13,188	2,439
Corporate & Other [Member]
Premiums and other revenues
Net investment income	(13,424)	10,070
Net realized investment gains	504	7,225
Other income	1,813	1,280
Total premiums and other revenues	(11,107)	18,575
Benefits, losses and expenses
Other operating expenses	9,966	9,678
Total benefits, losses and expenses	9,966	9,678
Income before federal income tax and other items	$ (21,073)	$ 8,897

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments outstanding, aggregate amount	$ 916,728,000
Commitments expected to be funded in 2018	664,335,000
Short-term borrowing facility, maximum capacity	100,000,000
Short-term borrowing facility, letters of credit	55,000,000
Letters of credit outstanding, amount	$ 3,047,000	$ 4,586,000
Short-term borrowing facility, expiration date	Oct. 31, 2018
Total amount of guarantees outstanding	$ 206,376,000
Life insurance policies with guarantees, cash value	$ 211,003,000

Related Party Transactions - Re

Related Party Transactions - Related Party Transactions (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Gal-Tex Hotel Corporation [Member] | Mortgage Loan On Real Estate Income Statement Effect [Member]
Related Party Transaction [Line Items]
Dollar amount of transactions	$ 400	$ 373
Gal-Tex Hotel Corporation [Member] | Net Investment Income [Member]
Related Party Transaction [Line Items]
Dollar amount of transactions	38	66
Gal-Tex Hotel Corporation [Member] | Mortgage Loans On Real Estate Financial Statement Caption [Member]
Related Party Transaction [Line Items]
Amount due to (from) American National	1,823		$ 2,223
Gal-Tex Hotel Corporation [Member] | Net Investment Income Accrual [Member]
Related Party Transaction [Line Items]
Amount due to (from) American National	11		13
Greer, Herz & Adams, LLP [Member] | Other Operating Expenses [Member]
Related Party Transaction [Line Items]
Dollar amount of transactions	2,607	$ 2,527
Greer, Herz & Adams, LLP [Member] | Other Operating Expenses Accrual [Member]
Related Party Transaction [Line Items]
Amount due to (from) American National	$ (483)		$ (386)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
American National Insurance Co [Member] | Moody Foundation [Member]
Related Party Transaction [Line Items]
Investment ownership percentage in related party	22.75%
American National Insurance Co [Member] | Libbie Shearn Moody Trust [Member]
Related Party Transaction [Line Items]
Investment ownership percentage in related party	37.01%
Gal-Tex Hotel Corporation [Member]
Related Party Transaction [Line Items]
Interest rate on mortgage loans	7.25%
Due date of mortgage loans receivable	Apr. 1, 2019
Gal-Tex Hotel Corporation [Member] | Moody Foundation [Member]
Related Party Transaction [Line Items]
Investment ownership percentage in related party	34.00%
Gal-Tex Hotel Corporation [Member] | Libbie Shearn Moody Trust [Member]
Related Party Transaction [Line Items]
Investment ownership percentage in related party	50.20%