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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Premiums and policy fees $ 752,752 $ 707,720 $ 1,475,952 $ 1,400,118
Reinsurance ceded (396,777) (336,119) (722,617) (632,414)
Net of reinsurance ceded 355,975 371,601 753,335 767,704
Net investment income 447,064 438,648 886,076 882,180
Realized investment gains (losses):        
Derivative financial instruments 66,591 (47,768) 70,198 (77,677)
All other investments (110,227) 67,879 (114,473) 103,362
Other-than-temporary impairment losses (1,789) (13,582) (3,129) (47,681)
Portion recognized in other comprehensive income (before taxes) (2,211) 140 (5,455) 15,643
Net impairment losses recognized in earnings (4,000) (13,442) (8,584) (32,038)
Other income 60,638 50,121 115,072 125,263
Total revenues 816,041 867,039 1,701,624 1,768,794
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three months: 2013 - $371,758; 2012 - $307,012; six months: 2013 - $678,336; 2012 - $589,788) 555,894 565,414 1,136,870 1,152,423
Amortization of deferred policy acquisition costs and value of business acquired 49,688 64,150 99,727 117,837
Other operating expenses, net of reinsurance ceded: (three months: 2013 - $51,018; 2012 - $46,931; six months: 2013 - $92,764; 2012 - $94,682) 131,532 120,410 276,286 240,401
Total benefits and expenses 737,114 749,974 1,512,883 1,510,661
Income before income tax 78,927 117,065 188,741 258,133
Income tax expense 25,923 35,438 61,859 80,650
Net income $ 53,004 $ 81,627 $ 126,882 $ 177,483