Derivative Investments (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

The tables below present the fair value of derivative instruments as of June 30, 2017 and December 31, 2016, respectively.

	June 30, 2017
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	149,341
Fixed-index products				Universal Life and Annuity Contracts	$	157,988
Total		$	149,341		$	157,988

	December 31, 2016
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(In thousands)			(In thousands)
Derivatives not designated as hedging instruments
Equity index options	Derivatives, Index Options	$	120,644
Fixed-index products				Universal Life and Annuity Contracts	$	122,666
Total		$	120,644		$	122,666

Schedule of Derivative Instruments in Condensed Consolidated Statements of Earnings

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended June 30, 2017 and 2016.

		June 30, 2017			June 30, 2016
Derivatives Not Designated  As Hedging Instruments	Location of Gain  or (Loss) Recognized In Income on Derivatives	Amount of Gain or  (Loss) Recognized in  Income on Derivatives
		(In thousands)
Equity index options	Net investment income	$	32,215		2,094
Fixed-index products	Universal life and annuity contract interest	(36,422		)	6,117
		$	(4,207	)	8,211

The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the six months ended June 30, 2017 and 2016.

		June 30, 2017			June 30, 2016
Derivatives Not Designated  As Hedging Instruments	Location of Gain  or (Loss) Recognized In Income on Derivatives	Amount of Gain or  (Loss) Recognized in  Income on Derivatives
		(In thousands)
Equity index options	Net investment income	$	93,421		(10,807	)
Fixed-index products	Universal life and annuity contract interest	(100,046		)	17,839
		$	(6,625	)	7,032