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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Premiums and policy fees $ 848,183 $ 752,752 $ 1,660,506 $ 1,475,952
Reinsurance ceded (348,255) (396,777) (681,761) (722,617)
Net of reinsurance ceded 499,928 355,975 978,745 753,335
Net investment income 525,576 447,064 1,039,613 886,076
Realized investment gains (losses):        
Derivative financial instruments (36,620) 66,591 (76,194) 70,198
All other investments 80,466 (110,227) 152,612 (114,473)
Other-than-temporary impairment losses (461) (1,789) (884) (3,129)
Portion recognized in other comprehensive income (before taxes) (999) (2,211) (2,167) (5,455)
Net impairment losses recognized in earnings (1,460) (4,000) (3,051) (8,584)
Other income 71,296 60,638 136,810 115,072
Total revenues 1,139,186 816,041 2,228,535 1,701,624
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three months: 2014 - $327,836; 2013 - $371,758; six months: 2014 - $631,972; 2013 - $678,336) 746,641 555,894 1,474,069 1,136,870
Amortization of deferred policy acquisition costs and value of business acquired 60,173 49,688 126,055 99,727
Other operating expenses, net of reinsurance ceded: (three months: 2014 - $47,201; 2013 - $51,018; six months: 2014 - $91,593; 2013 - $92,764) 159,757 131,532 304,185 276,286
Total benefits and expenses 966,571 737,114 1,904,309 1,512,883
Income before income tax 172,615 78,927 324,226 188,741
Income tax expense 56,572 25,923 105,634 61,859
Net income $ 116,043 $ 53,004 $ 218,592 $ 126,882