Derivative Investments (Tables)

12 Months Ended

Dec. 31, 2021

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 December 31, 2021 and 2020.

	December 31, 2021
	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	$	101,622
Fixed-index products				Universal Life and Annuity Contracts	$	142,761
Embedded derivative on reinsurance contract				Funds Withheld Liability	(84,725)
Total		$	101,622		$	58,036

	December 31, 2020
	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	$	132,821
Fixed-index products				Universal Life and Annuity Contracts	$	161,351
Total		$	132,821		$	161,351

Schedule of Effect of Derivative Instruments in Consolidated Statements of Earnings

The table below presents the effect of derivative instruments in the Consolidated Statements of Earnings for the years ended December 31, 2021, 2020 and 2019.

		Amount of Gain or (Loss) Recognized In Income on Derivatives
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized In Income on Derivatives	2021		2020	2019
		(In thousands)
Equity index options	Net investment income	$	120,718	14,754	123,207
Fixed-index products	Universal life and annuity contract interest	(133,327)		(44,970)	(91,424)
Embedded derivative on reinsurance contract	Net investment income	84,725		—	—
		$	72,116	(30,216)	31,783