Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Insruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2016 and 2015:

	2016				2015
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturity securities	$	13,190,668	$	13,204,814	$	12,444,394	$	12,462,847
Equity securities available for sale	669,200		669,200		150,866		150,866
Arbitrage trading account	299,999		299,999		376,697		376,697
Loans receivable	106,798		108,299		273,103		275,747
Cash and cash equivalents	795,285		795,285		763,631		763,631
Trading accounts receivable from brokers and clearing organizations	484,593		484,593		383,115		383,115
Due from broker	—		—		1,713		1,713
Liabilities:
Due to broker	19,416		19,416		—		—
Trading account securities sold but not yet purchased	51,179		51,179		37,035		37,035
Subordinated debentures	727,630		687,504		340,320		355,880
Senior notes and other debt	1,760,595		1,914,727		1,844,621		2,029,572