Derivative Investments (Tables)

9 Months Ended

Sep. 30, 2014

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 September 30, 2014 and December 31, 2013, respectively.

	September 30, 2014
	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	$	109,812
Fixed-index products				Universal Life and Annuity Contracts	$	127,622
Total		$	109,812		$	127,622

	December 31, 2013
	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	$	169,314
Fixed-index products				Universal Life and Annuity Contracts	$	187,399
Total		$	169,314		$	187,399

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 September 30, 2014 and 2013.

		September 30, 2014			September 30, 2013
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	$	3,479		35,615
Fixed-index products	Universal life and annuity contract interest	(4,033		)	(36,857	)
		$	(554	)	(1,242	)

The table below presents the effect of derivative instruments in the Condensed Consolidated Statement of Earnings for the nine months ended September 30, 2014 and 2013.

		September 30, 2014			September 30, 2013
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	$	49,278		126,739
Fixed-index products	Universal life and annuity contract interest	(49,003		)	(129,625	)
		$	275		(2,886	)