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New Accounting Standards - Schedule of Statements of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Premium $ 1,119,335 $ 1,079,282 $ 3,325,345 $ 3,221,293
Net investment income 266,926 246,711 785,275 736,317
Benefits and expenses:        
Life policyholder benefits [1] 515,676 545,933 1,536,317 1,533,726
Health policyholder benefits [2] 193,790 182,409 580,676 561,502
Other policyholder benefits 9,578 9,234 27,488 27,928
Amortization of deferred acquisition costs 95,757 88,012 282,159 258,693
Commissions, premium taxes, and non-deferred acquisition costs 138,677 124,768 414,933 376,490
Income before income taxes 318,815 234,776 857,555 805,401
Income tax benefit (expense) (61,732) (44,190) (161,602) (153,358)
Net income $ 257,083 $ 190,586 $ 695,953 $ 652,043
Basic net income per common share (in dollars per share) $ 2.72 $ 1.96 $ 7.29 $ 6.64
Diluted net income per common share (in dollars per share) $ 2.68 $ 1.94 $ 7.20 $ 6.58
As Previously Reported        
Revenue:        
Net investment income   $ 245,625   $ 733,101
Benefits and expenses:        
Life policyholder benefits   494,627   1,555,004
Health policyholder benefits   198,415   592,488
Other policyholder benefits   6,986   21,110
Amortization of deferred acquisition costs   156,129   469,718
Commissions, premium taxes, and non-deferred acquisition costs   93,028   277,436
Income before income taxes   229,983   648,594
Income tax benefit (expense)   (43,204)   (120,450)
Net income   $ 186,779   $ 528,144
Basic net income per common share (in dollars per share)   $ 1.92   $ 5.38
Diluted net income per common share (in dollars per share)   $ 1.90   $ 5.33
Adoption Impact        
Revenue:        
Net investment income   $ 1,086   $ 3,216
Benefits and expenses:        
Life policyholder benefits   51,306   (21,278)
Health policyholder benefits   (16,006)   (30,986)
Other policyholder benefits   2,248   6,818
Amortization of deferred acquisition costs   (68,117)   (211,025)
Commissions, premium taxes, and non-deferred acquisition costs   31,740   99,054
Income before income taxes   4,793   156,807
Income tax benefit (expense)   (986)   (32,908)
Net income   $ 3,807   $ 123,899
Basic net income per common share (in dollars per share)   $ 0.04   $ 1.26
Diluted net income per common share (in dollars per share)   $ 0.04   $ 1.25
Life insurance        
Revenue:        
Premium $ 788,099 $ 758,875 $ 2,342,429 $ 2,264,895
Life insurance | As Previously Reported        
Revenue:        
Premium   755,115   2,269,641
Life insurance | Adoption Impact        
Revenue:        
Premium   3,760   (4,746)
Health premium        
Revenue:        
Premium $ 331,236 320,406 $ 982,916 956,397
Health premium | As Previously Reported        
Revenue:        
Premium   319,289   955,478
Health premium | Adoption Impact        
Revenue:        
Premium   $ 1,117   $ 919
[1] et of the total remeasurement, including both the impact of assumption changes and the effect of actual to expected experience adjustments, resulting in a $11.3 million gain and a $45.2 million loss for the three months ended September 30, 2023 and 2022, respectively. Net of the total remeasurement gain of $16.5 million for the nine months ended September 30, 2023 and the total remeasurement loss of $49.3 million for the same period in 2022.
[2] $7.8 million gain and $9.7 million gain for the three months ended September 30, 2023 and 2022, respectively. Net of the total remeasurement gain of $8.3 million and $13.8 million for the nine months ended September 30, 2023 and 2022, respectively.