Derivative Instruments Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	September 30, 2012		December 31, 2011
	(Dollars in thousands)
Assets
Derivative instruments
Call options	$	577,784	$	273,314
Other assets
2015 notes hedges	40,020		45,593
Interest rate caps	3,252		—
	$	621,056	$	318,907
Liabilities
Policy benefit reserves - annuity products
Fixed index annuities - embedded derivatives	$	3,266,782	$	2,530,496
Other liabilities
2015 notes embedded derivatives	40,020		45,593
Interest rate swap	4,319		—
	$	3,311,121	$	2,576,089

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Change in fair value of derivatives:
Call options	$	160,735		$	(292,167	)	$	280,014		$	(161,953	)
2015 notes hedges	1,839			(41,446		)	(5,573		)	(44,900		)
Interest rate swaps	(1,171		)	(8		)	(4,319		)	(144		)
Interest rate caps	(313		)	—			(718		)	—
	$	161,090		$	(333,621	)	$	269,404		$	(206,997	)
Change in fair value of embedded derivatives:
2015 notes embedded derivatives	$	1,839		$	(41,446	)	$	(5,573	)	$	(44,900	)
Fixed index annuities	186,362			(164,119		)	471,851			(93,325		)
	$	188,201		$	(205,565	)	$	466,278		$	(138,225	)

Schedule of Derivative Instruments [Table Text Block]

			September 30, 2012				December 31, 2011
Counterparty	Credit Rating (S&P)	Credit Rating (Moody's)	Notional Amount		Fair Value		Notional Amount		Fair Value
			(Dollars in thousands)
Bank of America	A	A3	$	878,916	$	44,463	$	2,340,213	$	43,481
Barclays	A+	A2	3,114,784		120,239		2,419,339		60,903
BNP Paribas	AA-	A2	2,302,476		92,564		2,533,301		48,293
Citibank, N.A.	A	A3	2,592,111		70,255		—		—
Credit Suisse	A+	A1	842,294		36,414		1,423,802		27,464
Deutsche Bank	A+	A2	832,802		31,926		384,420		7,697
HSBC	AA-	Aa3	210,029		7,361		348,674		4,557
J.P. Morgan	A+	Aa3	1,095,703		47,724		2,109,019		27,961
Morgan Stanley	A	Baa1	1,164,516		45,362		244,180		7,375
UBS	A	A2	282		20		39,147		240
Wells Fargo (Wachovia)	AA-	Aa3	1,897,578		81,456		2,227,235		45,343
			$	14,931,491	$	577,784	$	14,069,330	$	273,314

Schedule of Interest Rate Derivatives [Table Text Block]

	Notional			Pay			September 30, 2012			December 31, 2011
Maturity Date	Amount		Receive Rate	Rate		Counterparty	Fair Value			Fair Value
							(Dollars in thousands)
March 15, 2021	$	85,500	*LIBOR	2.415	%	SunTrust	$	(4,319	)	$	—